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##
||||Page|
|---|---|---|---|
|Legal and administrative||information||
|Trustees' report|||2-9|
|Independent|auditors'|report|10-13|
|Consolidated|statement|offinancial activities|14|
|Consolidated|balance sheet||15|
|Charity balance sheet|||16|
|Consolidated|statement|ofcash flows|17|
|Notes to the|financial statements||18-36|
##
|Trustees|||Lt Gen SirAndrew|Ridgway,|Ridgway,|Ridgway,||KBECB DL (resigned|KBECB DL (resigned|7 September 2023)|
|---|---|---|---|---|---|---|---|---|---|---|
||||Mr William Bannister||||||||
||||Mr Steve Rowbotham|||(resigned|||7June 2023)||
||||Mr David Webb||||||||
||||Mr William Suttie||||||||
||||Ms Kate Adie, OBE|DL|||||||
||||Mr Anthony
Woodhouse||||||||
||||Mr Alexander Walters||||||||
||||Mr Oliver Barnham||||||||
||||Col Jason Williams||(resigned|||7|December 2023)||
||||Mrs Yun Sun Choi||||||||
||||Ms Andrea Bishop||||||||
||||Col Nicholas Serle||||||||
||||Col Patrick Williams||MC ADC||||||
||||Mr Scott Milne (appointed||||7 June 2023)||||
||||Sir William Rollo (appointed|||||7|June 2023)||
||||Mr Martin Rutledge||(appointed||||7June 2023)||
||||Brigadier Gavin Thompson|||||(appointed
7 December 2023)|||
|Secretary|||Paul Dolan||||||||
|Company registered||number|04962619||||||||
|Charity Commission|||||||||||
|registration|number||1102661||||||||
|Registered|office||Bovington
Camp||||||||
||||Wareham||||||||
||||Dorset||||||||
||||BH20 6)G||||||||
|Museum Director|||Richard Smith OBE (resigned 20 October 2023)||||||||
||||Simon Prager (interim|||21|October 2023-1January|||2024)|
||||Chris Price (appointed|||2 January 2024)|||||
|Auditors|||Saffery LLP||||||||
||||Chartered
Accountants||||||||
||||Midland
House||||||||
||||2 Poole Road||||||||
||||Bournemouth||||||||
||||BH2 SQY||||||||
|Investment|advisers||Investec Wealth and||||||Bankers|Barclays|
||||Investment|||||||Tagus House|
||||30Gresham Street|||||||Southampton|
||||London|||||||Hampshire|
||||EC2V 7QN|||||||S0142ZP|
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|||||Restricted|Endowment|Unrestricted|Total funds|As restated|
|---|---|---|---|---|---|---|---|---|
|||||Funds|Funds 2023|Funds|2023|Total funds|
|||||2023||2023||2022|
||||Note|E||6|6|6|
|Income from:|||||||||
|Donations,
legacies
grants||and||312,270||1,532,398|1,844,668|2,152,435|
|Other trading activities||||||3,821,030|3,821,030|3,188,194|
|Investments|||||28,285|248,827|277,112|171,154|
|Charitable
activities||||||3,575,551|3,575,551|2,710,519|
|Total income||||312,270|28,285|9,177,806|9,518,361|8,222,302|
|Expenditure
on:|||||||||
|Raising funds|||||6,533|3,700,560|3,707,093|3,267,235|
|Charitable
activities||||699,678||4,318,471|5,018,149|4,290,469|
|Total expenditure||||699,678|6,533|8,019,031|8,725,242|7,557,704|
|Net
income
investment
gains|before|||(387,408)|21,752|1,158,775|793,119|664,598|
|Net
gain/(loss)
investments||on|||76,440|281,912|358,352|(767,069)|
|Net|||||||||
|income/(expenditure)||||(387,408)|98,192|1,440,687|1,151,471|(102,471)|
|before transfers|||||||||
|Transfers between|funds|||43278|~34178|~8300|||
|Net movement
in funds||||~344730|63414|1432 187|1 131471|~202 471|
|Reconciliation offunds:|||||||||
|Total funds at 1January
2023||||11,309,119|1,231,695|15,078,209|27,619,023|27,721,494|
|Total funds at 31
December 2023|||17|10,964,989|1,295,109|16,510,396|28,770,494|27,619,023|
##
##
||||||2023|As restated|
|---|---|---|---|---|---|---|
|||||||2022|
||||Note|||6|
|Fixed assets|||||||
|Tangible assets|||||17,571,603|17,684,360|
|Investments|||12||6,009,475|5,423,209|
||||||23,581,078|23,107,569|
|Current assets|||||||
|Stocks|||14|423,174||451,255|
|Debtors|||15|423,607||454,947|
|Current asset investments|||12|1,129,903||1,077,930|
|Cash at bank|and in hand|||3,932,156||3,166,180|
|||||5,908,840||5,150,312|
|Creditors:|||||||
|Amounts
falling due within one year|||16|(719,424)||(638,858)|
|Net current|assets||||5,189,416|4,511,454|
|Total assets|less current liabilities||||28,770,494|27,619,023|
|Represented|by:||||||
|Designated
funds
Restricted funds|||17
17||11,803,906
10,964,989|10,163,646
11,309,119|
|Endowment|funds||17||1,295,109|1,231,695|
|Unrestricted|funds||17||4,706,490|4,914,563|
|Total funds|||||28,770,494|27,619,023|
|The financial|statements|were approved|by the|trustees on|fiJ|and signed on their behalf by:|
|Sir William
Rollo|||||||
##
|||||2023||As restated|
|---|---|---|---|---|---|---|
|||||||2022|
|||Note|||||
|Fixed assets|||||||
|Tangible assets||||17,571,603||17,684,360|
|Investments||12||6,009,477||5,423,211|
|||||23,581,080||23,107,571|
|Currentassets|||||||
|Stocks||14|||||
|Debtors||15|466,143||703,870||
|Current asset investments||12|1,129,903||1,077,930||
|Cash at bank|and in hand||3,545,172||2,671,502||
||||5,141,218||4,453,302||
|Creditors:|||||||
|Amounts
falling due within one year||16|(423,618]||(426,188)||
|Net current|assets|||4,717,600||4,027,114|
|Total assets|less current liabilities|||28,298,680||27,134,685|
|Represented|by:||||||
|Designated
funds||17||11,803,906||10,163,646|
|Restricted funds||17||10,964,989||11,309,119|
|Endowment|funds|17||1,295,109||1,231,695|
|Unrestricted|funds|17||4,234,676||4,430,225|
|Total funds||||28,298,680||27,134,685|
##
##
||||2023|Asrestated|
|---|---|---|---|---|
|||||2022|
|||Note|||
|Net cash provided by operating
activities||19|1,627861|1,097,808|
|Cash flows from investing
activities
Dividends,
interest and rents from investments|||277,112|171,154|
|Purchase ofproperty,
plant
Disposal ofinvestments
Purchase ofinvestments|and equipment||(858,251)
1,183,313
~12**.**69**6**33**.**12**9**99|(417,587)
650,838
~685.316|
|Net cash used in investing|activities||861,025|280,911|
|Change in cash and cash
reporting period|equivalents
in the||765,976|816,897|
|Cash and cash equivalents|brought forward||3,166,180|2,349,283|
|Cash and cash equivalents|carried forward|20|3,932,156|3,166,180|
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||Restricted|Unrestricted|Total|Restmcted|Unrestricted|Total|
|---|---|---|---|---|---|---|
||funds|funds 2023|funds|funds|funds 2022|funds|
||2023||2023|2022||2022|
|||||8|||
|Donations|150,888|383,539|534,427|333,265|279,743|613,008|
|Legacies||21,293|21,293||||
|Grants|161,382|141,516|302,898|286,355|315,414|601,769|
|Gifts in kind||986,050|986,050||937,658|937,658|
|Total|312,270|1,532,398|1,844,668|619,620|1,532,815|2,152,435|
##
|ading activit|ies|||
|---|---|---|---|
|||Total funds|Total funds|
|||2023|2022|
|||6||
|Charity trading income||||
|Turnover||3,821,030|3,188,194|
|||3,821,030|3,188,194|
|Fundraising|trading expenses|||
|Cost ofsales||2,076,793|1,693,570|
|Administrative|expenses|294,229|365,011|
|Salaries and overheads||984,203|646,702|
|||3,355,225|2,705,283|
|Net income from trading activities||465,805|482,911|
##
##
|Total funds|As restated|
|---|---|
|2023|Total funds|
||2022|
||6|
|277,112|171,154|
##
||||Total funds|Total funds|
|---|---|---|---|---|
||||2023|2022|
|||||6|
|Primary|purpose|trade|3,334,093|2,521,656|
|Ancillary|trade||241,458|188,863|
||||3,575,551|2,710,519|
##
|6
Total|expenditure|expenditure||||||
|---|---|---|---|---|---|---|---|
|Currentyear|||Staff'|Other|Support|Governance|Total|
||||costs|direct|costs|costs|2023|
||||(Note 10)|costs|[Note 7)|||
|Expenditure||on raising||||||
|funds||||||||
|Fuudraising||||32,884|33,890||66,774|
|Publicity and||advertising||194,803|||194,803|
|Fundraising||trading|1,000,702|2,354,523|||3,355,225|
|Generation|ofinvestment|||90,291|||90,291|
|income||||||||
||||1,000,702|2,672,501|33,890||3,707,093|
|Expenditure||on charitable||||||
|activities||||||||
|Primary purpose trade|||64,327|1,569,764|2,344,129|53,880|4,032,100|
|Intangible|expenditure|||986,049|||986,049|
||||64,327|2,555,813|2,344,129|53,880|5,018,149|
|Governance||||19,990|33,890|(53,880]||
||||1,065,029|5,248,304|2,411,909||8,725,242|
|Support staff costs|||1,907,698||(1,907,698)|||
||||2,972,727||504,211|||
##
##
|6|Total expenditure|(continued)||||||
|---|---|---|---|---|---|---|---|
|Prior Year as restated||Stafi||Other|Support|Governance|Total|
|||costs||direct|costs|cos'ts|2022|
|||(Note 10)||costs|(Note 7)|||
|Expenditure
on raising||||||||
|funds||||||||
|Fundraising||||16,776|29,068||45,844|
|Publicity and advertising||||205,018|||205,018|
|Fundraising
trading||805,383||2,148,681|||2,954,064|
||Generation
ofinvestment|||62,309|||62,309|
|income||||||||
|||805,383||2,432,784|29,068||3,267,235|
||Expenditure
on charitable|||||||
||activities|||||||
||Primary purpose trade
Intangible
expenditure|62,070||1,162,816
937,658|2,084,840|43,085|3,352,811
937,658|
|||62,070||2,100,474|2,084,840|43,085|4,290,469|
||Governance|||14,017|29,068|(43,085)||
|||867,453||4,547,275|2,142,976||7,557,704|
||Support staff costs|1,747,308|||(1,747,308)|||
|||2,614,760|||395,668|||
|7
Support costs||||||||
||Current year|Costs ofgenerating||Governance||Primary|Total 2023|
|||voluntary|income|||purpose||
||||6|||||
||Staifrelated costs||1,630||1,630|159,732|162,992|
||Other costs||4,274||4,274|332,672|341,220|
||Wages and salaries||24,355||24,355|1,495,845|1,544,555|
||National insurance||2,058||2,058|201,712|205,828|
||Pension cost||1,573||1,573|154,168|157,314|
||||33,890||33,890|2,344,129|2,411,909|
##
##
|pport costs (contin|ued)|ued)||||
|---|---|---|---|---|---|
|Prior Year|Costs ofgenerating||Governance|Primary|Total 2022|
||voluntary|income||purpose||
|Staffrelated costs||1,044|1,044|102,341|104,429|
|Other costs||3,441|3,441|284,356|291,238|
|Wages and salaries||21,575|21,575|1,403,342|1,446,492|
|National insurance||1,967|1,967|192,768|196,702|
|Pension cost||1,041|1,041|102,032|104,115|
|||29,068|29,068|2,084,839|2,142,976|
##
##
##
|etincoming
r|esources|esources|||||
|---|---|---|---|---|---|---|
|This isstated|after charging:||||||
||||||2023|2022|
||||||6|6|
|Depreciation|oftangible|fixed assets:|||||
|—owned|by the charitable||group||971,008|862,224|
|Auditor's
remuneration||—audit|||19,250|19,800|
|||—non audit services|||5,100|1,350|
|Stock provision|||||10,042|7,000|
|During the year, no trustees received any remuneration||||(2022:Enil)|||
##
##
|affcosts|||
|---|---|---|
|Stafi'costs were as follows:|2023|2022|
||6||
|Wages and salaries|2,590,205|2,301,345|
|Social security costs|216,661|205,131|
|Other pension costs|165,861|108,284|
||2,972,727|2,614,760|
|mployees
durin
taff):|g the year expressed as full time|equivalents
was as follows (including
casua|l and part-time|
|---|---|---|---|
|||2023|2022|
|||Number|Number|
|Museum staff||98|92|
|Administration|staff|1|1|
|||99|93|
##
##
##
##
##
|e table belo|w|details the heri|tage assets|in the course ofb|eing catalogued|and the progr|ess to date.|ess to date.|
|---|---|---|---|---|---|---|---|---|
|||||||Total 2023|Total 2022||
|||||||Number||Number|
|Documents|&60c/o completed|||||63,410||62,455|
|Journals||||||2,616||2,628|
|Maps/technical||drawings||||4,314||4,296|
|Photographs|and images|||||264,310||263,000|
|Total||||||334,650||332,379|
|Catalogued|heritage assets||2023|Net|2022|2021|2020|2019|
|||||movement|||||
||||Number|Number|Number|Number|Number|Number|
|Vehicles,||trailers,|409|1|408|384|378|378|
|turrets etc.|||||||||
|Audio visual|||5,438|48|5,390|5,071|4,960|4,707|
|Books|||10,269|(665)|10,934|10,797|10,292|10,276|
|Equipment
Art/silver
Flags
Medals|||5,280
850
470
3,627|(15)
(13)
(12)
(170)|5,295
863
482
3,797|5,250
857
477
3,713|5,068
830
460
3,192|4,971
926
460
3,175|
|Memorabilia|||3,213|(64)|3,277|3,232|2,979|2,966|
|Models|||1,068|9|1,059|1,112|1,046|1,044|
|Uniforms|||7,559|161|7,398|7,849|7,077|7,046|
|Weapons|||1,064|12|1,052|1,159|955|949|
|Total|||39,247|(708)|39,955|39,901|37,237|36,898|
##
|xed asset investments||
|---|---|
||Listed|
||Securities|
|Group and Charity||
|Market value||
|At 1January 2023|6,501,140|
|Additions|1,463,199|
|Disposals|(1,183,313)|
|Gain on investments|358,352|
|At 31December 2023|7,139,378|
|rincipal subsidiaries|rincipal subsidiaries|||||||
|---|---|---|---|---|---|---|---|
|Name ofundertaking||Registered|office|Class ofshare held|e%%d|Assets|Liabilities|
||||||Held|||
|The Tank|Museum Trading|Bovington|Camp,|Ordinary|100.00|1,008,631|524,291|
|Company|Limited|Wareham,|Dorset,|||||
|(registered|no.02236998)|BH20 6JG||||||
##
##
##
|ebtors||||||||
|---|---|---|---|---|---|---|---|
||||||Grou||Charit|
|||||2023|2022|2023|2022|
||||||||6|
|Trade debtors||||66,232|37,725|38,734|16,279|
|Amounts|due|from|subsidiary|||153,129|311,595|
|Other debtors||||29,620|12,753|19,697|12,779|
|Prepayments||and accrued income||327,755|404,469|254,583|363,217|
|||||423,607|454,947|466,143|703,870|
|editors:|Amounts||falling due within|one year||||
||||||Grou||Charit|
|||||2023|2022|2023|2022|
|||||6||||
|Trade creditors||||267,796|219,832|88,241|87,577|
|Other taxation and social security||||30,943|53,705|28,332|53,705|
|Other creditors||||106,067|56,409|103,857|52,816|
|Accruals|aud deferred income|||314,618|308,912|203,188|232,090|
|||||719,424|638,858|423,618|426,188|
##
##
|Movement|offunds for|the year|||||
|---|---|---|---|---|---|---|
||As|Incoming|Resources|Transfers|Gains/Posses)|At31|
|Current|restated|resources|expended|in/(out)|on|December|
|year|At||||investments|2023|
||1January||||||
||2023||||||
||6||||||
|Designated|||||||
|funds|||||||
|Fixed assets|4,601,910||(137,224)|||4,464,686|
|Vehicle store|1,000,000|||1,000,000||2,000,000|
|2054 fund|3,483,806|79,924|(19,019)|411,620|252,986|4,209,317|
|General|||||||
|resource|1,077,930|28,649|(5,602)||28,926|1,129,903|
||10163646|ltl8 573|~362045|1411620|281,912|11,803,906|
|General|||||||
|funds|||||||
|Reserves|4,914,563|9,069,233|(7,857,186)|(1,420,120)||4,706,490|
|Total unrestricted
funds
15,078,209||9177806|~8039033|~8500|281,912|16,510396|
|Restricted|||||||
|funds|||||||
|Buildings|10,331,966|15,768|(333,984)|||10,013,750|
|Exhibitions|856,704|75,323|(218,526)|34,778||748,279|
|Revenue|120,449|221,179|(147,168)|8,500||202,960|
||11,309,119|312,270|~699.678|43,278||10,964,989|
|Endowment|||||||
|funds|1,231,695|28,285|(6,533)|(34,778)|76,440|1,295,109|
|7
7% 0*|27,619,023|9518361|~8,725,242||358,352|28,770,494|
##
##
|Stateme|nt of|funds (continu|ed)|||||
|---|---|---|---|---|---|---|---|
|||At|Incoming|Resources|Transfers|Gains/[losses)|At 31|
|Prior Year as
restated||1January
2022|resources|expended|in/(out)|on
investments|December
2022|
|Designated||||||||
|funds||||||||
|Fixed assets||4,740,771||(138,861]|||4,601,910|
|Vehicle||||(20,471)|20,471|||
|restoration||||||||
|Vehicle store||1,000,000|||||1,000,000|
|2054 fund||3,591,537|78,694|(14,763)|290,000|(461,662)|3,483,806|
|General||||||||
|resource||1,164,220|26,421|[5,198)||(107,513)|1,077,930|
|||10496528|105,115|~179.293|31tl,471|~569.175|10,163,646|
|General||||||||
|funds||||||||
|Reserves||4,430,752|7,469,035|(6,695,224)|(290,000)||4,914,563|
|Total unrestricted
funds
14,927,280|||757415tl|~6874517|20471|~569375|15078209|
|Restricted||||||||
|funds||||||||
|Buildings||10,567,793|101,285|[337,112)|||10,331,966|
|Exhibitions||638,417|336,465|[186,721)|68543||856,704|
|Revenue||112,387|181,870|(153,337)|(20,471)||120,449|
|||11,318,597|619,62~|~677.170|48,~72||11,309,119|
|Endowment||||||||
|funds||1,475,617|28,532|[6,017)|(68,543)|(197,894)|1,231,695|
|7
17|0|27721494|8222302|~7557704||~767,069|27,619023|
##
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||As restated fund bala|nces a|sa|t31December 202|2 are represented|2 are represented|2 are represented|by:||
|---|---|---|---|---|---|---|---|---|---|
|||||Restricted|Endowment|||Unrestricted|Total funds|
|||||funds 2022|funds 2022|||funds|2022|
|||||||||2022||
|||||||||6||
||Tangible fixed assets
Fixed asset investments|||11,120,127|1,231,695|||6,564,233
4,191,514|17,684,360
5,423,209|
||Current asset investments|||||||1,077,930|1,077,930|
||Current assets
Creditors due within|one year||188,992||||3,883,390
~638,838|4,072,382
~638.858|
||Total|||11,309,119|1,231,695|||15,078,209|27,619,023|
|19|Reconciliation ofnet movement|||in funds tonet cash flow from|||operating activities|||
|||||||||2023|As restated|
||||||||||2022|
||||||||||6|
||Net income/[expenditure)||for|the year (as per Statement||of||1,151,471|(102,471]|
||Financial Activities)|||||||||
||Adjustment
for:|||||||||
||Depreciation
charges
Loss on disposal offixed assets|||||||971,008|862,224
2,087|
||Non-cash fixed asset|accrual||||||116,451|(116,452)|
||(Gains)/losses
on investments|||||||(358,352)|767.069|
||Dividends, interest and rents from investments|||||||(277,112)|(171,154)|
||Decrease in stocks|||||||28,081|15,201|
||Decrease/(increase)|in debtors||||||31,341|(89,670)|
||Decrease in creditors|||||||(35,887)|(69,026)|
||Net cash provided by operating activities|||||||1,627,001|1,097,808|
|20|Analysis ofchanges in|net debt||||||||
||Currentyear|||Balance at
1January
2023|Cash flows|||Other
non-cash
changes|Balance at
31December
2023|
|||||6|||E|6|6|
||Cash in hand|||3,166,180|765,976||||3,932,156|
|||||3,166,180|765,976||||3,932,156|
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|lysis|ofchanges in|net debt (continued)||||
|---|---|---|---|---|---|
|Prior|Fear|Balance at||Other|Balance at|
|||1January||non-cash|31December|
|||2022|Cash flows|changes|2022|
|||6|6||6|
|Cash|in hand|2,349,283|816,897||3,166,180|
|||2,349,283|816,897||3,166,180|
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