2021-12-31-accounts

				Page
Legal and administrative		information		1-2
Trustees' report				3-22
Independent	auditors'	report		23-26
Consolidated	statement	offinancial	activities	27
Consolidated	balance sheet			28
Charity balance sheet				29
Consolidated	statement	ofcash flows		30
Notes to the	financial statements			31-48

Trustees				Lord Montagu of Beaulieu, President	Lord Montagu of Beaulieu, President	Lord Montagu of Beaulieu, President	Lord Montagu of Beaulieu, President
				Hon. Mary Montagu-Scott
				Christopher Macgowan,			OBE - Chairman
				Caroline Marcus
				Nick Mason
				Lord Strathcarron
				Robert Taylor
				Helen Evenden
				Pierre Bonnet
				Colin McKenzle
				Jeremy Boadle
				Keira Sewell
				Lord Maxwell Beaverbrook
				Andrew Goss
				Andrew Thomas
				Tom Callow
				Jonathan Hewett
Secretary				Philip Johnson
Company	registered		number	05316070
Charity Commission
registration		number		1107656
Registered		office		John Montagu	Building
				Beaulleu
				Hampshire
				5042 7ZN
Chief Executive Officer				Dr Jonathan Murden
Auditors				Saffery Champness		LLP
				Chartered Accountants
				Midland House
				2 Poole Road
				Bournemouth
				BH2 SOY
Bankers				Barclays Bank Pic
				4e Floor
				Block A
				Apex Plaza
				Forbury Road
				Reading
				R61 1AX

					Restricted	Unrestricted	Totalfunds	Total funds
					Funds	Funds	2021	2020
					2021	2021
				Note	f	f
Income from:
Donations and legacies					91,674	305,607	397,281	314,171
Activities to generate funds						51,863	51,863	49,570
Trading activities						124,380	124,380	168,199
Investments						82	82	534
Charitable activities						2,334,730	2,334,730	1,425,835
Total income					91,674	2,816,662	2,908,336	1,958,309
Expenditure on:
Costs ofgenerating	Voluntary			7		165,633	165,633	181,498
Income
Charitable activities				7	110,651	2,705,091	2,815,742	1,874,976
Total expenditure				7	110,651	2,870,724	2,981,375	2,056,474
Net deficit before	investment		gains		(18,977)	(54,062)	(73,039)	(98,165)
Net gains on investment		property				59,000	59,000	15,000
Net degcit before	transfers				(18,977)	4,938	(14,039)	(83,165)
Transfers between	funds				(12,451)	12,451
Net movement in	funds				(31,428)	17,389	(14,039)	(83,165)
Total funds at 1January		2021			305,886	8,665,595	8,971,481	9,054,646
Total funds at 31December 2021					274,458	8,682,984	8,957,442	8,971,481

					2021	2020
				Note	6	f
Cash flows from operating		activities
Net expenditure for the year					(14,039)	(83,165)
AdJustment for:
Depreciation charges					184,128	207,149
Impairment					42,560	42,560
Net gains on investment Donated assets	property				(59,000) (93,500)	(15,000)
Interest receivable Profit on sales offixed assets					(82)	(534)
increase in debtors					(250,281)	(347,739)
Increase in creditors					167,038	123,251
Net cash absorbed by operating activities					(23,176)	(73,478)
Cash flows from investing		activities
Interest received					82	534
Purchase ofproperty, plant Proceeds from sale offixed		and equipment assets			(21,496)	(5,908)
Net cash used In Investing		activities			(21,864)	(5,374)
Change in cash and cash	equivalents		in the year		(45,040)	(78,852)
Cash and cash equivalents		brought forward			758,661	837,513
Cash and cash equivalents		carried forward			713,621	758,661

Leasehold	property		Over the remaining	term ofthe lease
Displays			Over the life ofthe	display
Library and	museum	equipment	10-3396on written	down value

	Restricted	Restricted	Restricted	Unrestricted	Total	Restricted	Unrestricted	Total
	funds 2021			funds 2021	funds	funds 2020	funds 2020	funds
					2021			2020
			E	E	E	E	E	E
Donations		65,029		181,822	246,851	64,126	97,381	161,507
Gifts in kind				94,310	94,310		4,400	4,400
Grants		26,645		29,475	56,120	12,000	136,264	148,264
Total donations		9] 674		305,607	397,281	76,126	238,045	314,171
and legacies
Activities to generate		funds
	Restricted			Unrestricted	Total	Restricted	Unrestricted	Total
	funds 2021			funds 2021	funds	funds 2020	funds 2020	funds
					2021			2020
				E	E		E	E
Rental income				25,540	25,540		25,170	25,170
Fundraised				26,323	26,323		24,400	24,400
income
				51,863	51,863		49,570	49,570
Trading results
		Restricted		Unrestricted	Total	Restricted	Unrestricted	Total
		funds	2021	funds 2021	funds	funds 2020	funds 2020	funds
					2021			2020
					E	E	E	E
Charity trading
income
Museum	services			124,380	124,380		168,199	168,199
Trading expenses
Museum	services			82,325	82,325		98,657	98,657
Net income from trading activities				42,055	42,055		69 542	69542

			Restricted	Restricted	Unrestricted	Unrestricted	Total	Restricted	Unrestricted	Unrestricted	Total
			funds 2021		funds 2021		funds	funds 2020	funds 2020		funds
							2021				2020
							f	f		E	f
	Interest
	receivable					82	82			534	534
6	Income from		charitable	activities
			Restricted		Unrestricted		Total	Restricted	Unrestricted		Total
				funds	funds 2021		funds	funds	funds	2020	funds
				2021			2021	2020			2020
				f			E	f			E
	Preserving motoring	history				2,334,730	2,334,730		1,425,835		1,425,835
7	Total expenditure
				Staff costs			Other	Support	Governance		Total 2021
				(Note	10)	direct costs		costs	costs
								(Note 8)
	Expenditure		on raising funds
	Fundraislng			12,187			19,020	52,101			83,308
	Trading			31,296		51,029					82,325
				43,483		70,049		52,101			165,633
	Expenditure		on
	charitable	activities
	Primary purpose trade			372,178		2,009,691		355,880	77,993		2,815,742
	Governance					21,691		56,302	(77,993)
				415,661		2,101,431		464,283			2,981,375
	Support staff		costs	52,999				(52,999)
				468,660				411,284

Prior Year		Staffcosts	Other	Support	Governance	Total 2020
		(Note 10)	direct costs	costs	costs
				(Note 8)
Expenditure	on raising funds
Fundraising		36,687	4,851	41,303		82,841
Trading		29,758	68,899			98,657
		66,445	73,750	41,303		181,498
Expenditure	on
charitable	activities
Primary purpose trade		337,050	1,152,971	320,683	64,272	1,874,976
Governance			19,947	44,325	(64,272)
		403,495	1,246,668	406,311		2,056,474
Support staff costs		21,380		(21,380)
		424,875		384,931

Support costs
		Costs ofgenerating		Preserving	Governance	2021	Total 2021
		voluntary	Income	motoring
			2021 f	history 2021 E		f	E
Staff welfare and	training		122	834		132	1,088
Office costs			30,611	209,091		33,079	272,781
Professional fees			3,912	26,719		4,227	34,858
Staff employment	costs		5,947	40,625		6,427	52,999
Depreciation			11,509	78,611		12,437	102,557
			52,101	355,880		56,302	464,283

	Prior Year			Costs ofgenerating	Costs ofgenerating	Preserving	Governance 2020	Total 2020
				voluntary	income	motoring
					2020 f	history 2020 f	f	f
	Staff welfare	and training			59	459	63	581
	Office costs				26,409	205,039	28,341	259,789
	Professional	fees			1,269	9,853	1,362	12,484
	Staff employment costs				2,173	16,874	2,332	21,379
	Depreciation				11,393	88,458	12,227	112,078
					41,303	320,683	44,325	406,311
9	Net incoming	resources
	This Isstated	after charging:
							2021	2020
							f	6
	Depreciation	oftangible	fixed	assets:
	—owned	by the charitable		group			184,128	207,149
	Impairment						42,560	42,560
	Auditor's remuneration						14,100	13,075
	Auditor's remuneration		—non	audit			6,300	10,655
10	Staff employment costs
	Staff costs were as follows:
							2021	2020
							6	f
	Wages and salaries						404,621	367,557
	Social security	costs					26,810	24,270
	Other pension	costs					37,229	33,048
							468,660	424,875

			2021	2020
			Number	Number
Museum	services		11	13
Administration		staff	7	7
			18	20

11	Tangible fixed assets
		Leasehold	Displays,	Historic	Exhibits,	Total
		property	Rbrary and	motor	library
			museum	vehicles	books, Rima
			equipment		and
					photographs
	Group and Charity				E
	Cost
	1January 2021	1,791,531	3,383,267	5,525,150	387,450	11,087,398
	Additions		21,946	93,500		115,446
	Dlsposals		(220,174)			(220,174)
	31December 2021	1,791,531	3,185,039	5,618,650	387,450	10,982,670
	Depreciation
	1January 2021	847,389	2,411,198		127,681	3,386,268
	Charge forthe year	55,834	128,294			184,128
	Impairment				42,560	42,560
	Eliminated on disposal		(220,174)			(220,174)
	31December 2021	903,223	2,319,318		170,241	3,392,782
	Net book value
	31December 2021	888,308	865,721	5,618,650	217,209	7,589,888
	31December 2020	944,142	972,069	5,525,150	259,769	7,701,130

				Group		Charity
			2021	2020	2021	2020
			6	6	6	6
Trade debtors			116,535	159,557	72,317	56,872
Amounts	owed by group undertakings
Amounts	owed by related parties		284,488	226,105	284,693	225,986
Other taxation			58,855	63,112	58,855	63,112
Prepayments		and accrued income	362,350	123,160	345,029	101,957
			822,228	571,934	760,894	447,927

15 Creditors
								Group		Charity
							2021	2020	2021	2020
							f	6	6	f
Trade	creditors					74,286		16,055	70,055	12,237
Amounts		owed	to	group undertakings					27,067	2,367
Other	taxation		and social security			11,989		18,883	9,848	8,648
Other	creditors					406,020		290,306	358,412	241,632
						492,295		325,244	465,382	264,884
16 Statement	offunds
				At 1January	Incoming		Resources		Net gains and	At 31December
				2021	resources		expended		transfers	2021
				f		f		f	6	6
Designated funds		(group
and charity) Acquisition/Conservation				6,491						6,491
fund
Historic Vehicle				3,455,650		93,500				3,549,150
Collection
Fixed assets fund				3,503,581				(85,789)		3,417,792
Strategic Plan				250,000				(80,585)		169,415
Development	fund
				7,215,722		93,500		(166,374)		7,142,847
General funds				1,449,873	2,723,162		(2,704,350)		71,451	1,540,136
Total unrestrkted		funds		8,665,595	2,816,662		(2,870,724)		71,451	8,682,984
(group)
Total unrestricted		funds		8,592,248	2,760,855		(2,786,711)		71,451	8,637,843
(charity)

16 Statement offunds (continued)	16 Statement offunds (continued)	16 Statement offunds (continued)
		At 1January	Incoming	Resources	Net gains	At 31
		2021	resources	expended	and	December
					transfers	2021
						E
Restricted funds	(group
and charity)
Capital funds
Golden Arrow		2,457				2,457
Restoration fund
Outreach Program fund		5,944		(53)		5,891
Motor Cycle Gallery		127,843		(12,782)		115,061
fund
Arts Council Designation		12,656		(1,318)		11,338
Film and Video Curation		22,088		(2,772)		19,316
Viral Marketing		1,046		(1,046)
HLF-Caravans &		768		(768)
Charabancs
Steam Car "Inspiration"		14,904		(1,490)		13,414
Collection Care			15,800	(24)		15,776
Equipment
Laptop Grant			2,405	(331)		2,074
Revenue funds
Small Acquisition	fund	1,867	3,000	(3,179)		1,688
Restoration fund		42,929	14,013	(9,033)		47,909
Steam Car "Inspiration"		4,742				4,742
Workshop Trainee	fund	36,655	6,645	(15,768)	(12,451)	15,081
ACE DDF —Golden		26,975	29,811	(47,115)		9,671
Arrow
Audience Development			20,000	(14,972)		5,028
fund
Conservation fund		5,012				5,012
		305,886	91,674	(110,651)	(12,451)	274,458
Total funds (group)		8,971,481	2,908,336	(2,981,375)	59,000	8,957,442
Total funds (charity)		8,898,134	2,852,529	(2,897,362)	59,000	8,912,301

			At 1January	Incoming	Resources	Net gains	At 31December
Prior Year			2020 as	resources	expended	and	2020
			restated			transfers
			f			6	f
Designated funds	(group	and
charity)
Acquisition/conservation		fund	6,754		(263)		6,491
Historic vehicle collection			3,455,650				3,455,650
Masterplan fund			391,813		(55,596)		336,217
Fixed assets fund			3,222,232		(54,868)		3,167,364
Strategic plan development			250,000				250,000
			7,346,449		(110,727)		7,215,722
General funds			1,401,982	1,882,183	(1,841,525)	7,233	1,449,873
Total unrestricted	funds		8,728,431	1,882,183	(1,952,252)	7,233	8,665,595
(group)
31December 2020			8,695,108	1,739,417	(1,849,510)	7,233	8,592,248

16 Statement offunds (continued)	16 Statement offunds (continued)	16 Statement offunds (continued)
Prior Year		At 1January	Incoming	Resources	Net gains	At 31
		2020 as	resources	expended	and	December
		restated			transfers	2020
		f				f
Restricted funds	(group
and charity)
Capital funds
Golden Arrow		2,457				2,457
Restoration fund
Outreach Program	fund	5,944				5,944
Motor Cycle Gallery		150,401		(22,560)		127,841
fund
Arts Council Designation		14,890		(2,234)		12,656
Film and Video Curation		25,986		(3,898)		22,088
Viral Marketing		1,230		(184)		1,046
HLF —Caravans Ik		903		(135)		768
Charabancs
Woman's Suffragette		500				500
Badge
inspiration steam	car				14,904	14,904
Revenue funds
Small Acquisition	fund		3,000	(1,633)		1,367
Restoration fund		44,384	10,000	(10,688)	(764)	42,929
Film and Video Curator		709			(709)
Steam Car "Inspiration"		22,276		(2,630)	(14,904)	4,742
Workshop Trainee	fund	31,037	10,000	(13,623)	9,240	36,655
Advocacy Booth		19,918		(19,918)
Motoring in Miniature		2,080	8,600	(10,680)
Future in Focus fund		3,500		(3,500)
ACE DDF —Golden			37,514	(10S39)		26,975
Arrow
Ready to Reopen grant			2,000	(2,000)
Conservation fund			5,012			5,012
		326,215	76,126	(104,222)	7,767	305,886
Total funds (group)		9,054,646	1,958,309	(2,056,474)	15,000	8,971,481
31December 2020		9,021,323	1,815,543	(1,953,732)	15,000	8,898,134

		Restricted	Unrestricted	Total	Restricted	Unrestricted	Total
		funds	funds	funds	funds	funds 2020	funds
		2021	2021	2021	2020		2020
		E	6	6	6	f	E
Tangible fixed		163,512	7,426,376	7,589,888	184,044	7,517,086	7,701,130
assets
Investment			324,000	324,000		265,000	265,000
property
Current assets		110,946	1,424,903	1,535,849	121,842	1,208,753	1,330,595
Creditors	due		(492,295)	(492,295)		(325,244)	(325,244)
within one year
		274,458	8,682,984	8,957,442	305,886	8,665,595	8,971,481

mily member ofth	e two trustees who are also dire	ctors of BED
			2021	2020
			E	E
Services provided	by BELto the Charity amounted	to	1,843,789	950,136
Services provided	by the Charity to BELamounted	to	30,562	22,047
Admission income	allocated to NMMT from 8EL		1,852,902	1,015,091

						2021	2020
						f	f
Services	provided	by	VTS	to the Charity amounted	to
Services	provided	by	the	Charity to VTS amounted	to	25,540	25,170

										2021	2020
										6	f
Services	provided	by	the	estate	to	the	Charity	amounted	to	14,642	17,841