Registered number: 05639463 Charity number- 1115243 THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST (A company limited by guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST (A rnpanY Ilmlted by guarantee) CONTENTS Page Reference and adminislrative details of the Company. its Trustses and advisers Trustees. report 2-10 Independent examlnerfs report 11 Statement of flnanclal actlvltles 12 Balance sheet 13 Notes to the financial staternènts 14-29
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST (A company Ilmlted by guarantee) REFERENCE AND ADMINISTRATNE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Mr D J Ashton, Trustee (resigned 17 July 2024) Air v1Marshal C Bairsto. Vice Chair Ms K Barker. Trustee Mr D Benton. Trustee (resigned 15 October 2024} Ms N Brown. Tnjstee Wing Commander E Ferguson OBE, Trustee Alr Vic&Marshal I C Morrison CBE. Chair Air Marshal C Spink. Trustee Ms S Unadkat. Trustee Air Commdore I Stewart (appointed 23 January 2024) Mr G Headland lappoinled 23 January 2024) Company registered number 05639463 Charity registered number 1115243 Registered o)Tice The Bentley Priory Museum Mansion House Drive stanmore Middlesex HA7 3FB Honorary sgcrotary Wing Commander E Ferguson Accountants Magee Gammon Corporate Limited Chartere(J Accountsnts Henwood House Henwood Ashford Kent TN24 8DH Page 1
BENTLEY PRIORY BAThLE OF BRITAIN TRUST (Company knmited by Guarantee) REPORT OF THE TRUSTEES FOR THE PERIOD ENDING 31 DECEMBER 2024 Charf Name The Bentley Priory Battle of Britain Trust Com an Number 5639463 Re istered Cha Number 1115243 istered Office Bentley Priory Museum Mansion House Drive Stanmore. Middlesex. HA7 3FB Secreta Wing Commander Erica Ferguson Directors and Trustees The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. The trustees serving during following the period were as follows: Mr David Ashton {Appointed 28 Nov 17; resigned and reappointed 28 Sep 22: resigned 17 Jul 24) Air Vice-marshal Clive Bairsto (Appointed 6 May 15; resigned and reappointed 20 Sep 21} Miss Karen Barker (Appointed 28 Nov 17; resigned and reappointed 28 Sep 22) Ms N Brown (Appointed 28 Jul 14: resigned and reappointed 22 Aug 17; Signed and reappointed 12 Aug 201 Mr Dean Benton {Appointed 17 Sep 19; resigned IS Oct 2024) Wing Commander Erica Ferguson (Appointed 05 Mar 15; resigned and reappointed 20 Sep 211 Mr Gary Headland {Appointed 23 Jan 241 Air Vice-marshal lan Morrison (Appointed 17 Sep 19: resigned and appointed 17 ort 23} Air Marshal Cliff Spink {Appointed l March 16; resigned and reappointed 17 Sep 20: resigned and reappointed 28 Sep 22} Air Cdre lan Stewart (Appointed 23Jan 24) Ms Sangita Unadkat IAppointed 28 Jul 14; resigned and reappointed 22 Aug 17: reslgned and reappointed 12 Aug 20; resigned and reappointed 17 Oct 231 The Annual Report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirni that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice {SORP} applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 {effective l January 20191.
Since the company qualifies as small under Section 383. the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directorfs Report) Regulations 2013 is not required. Structure, Governance and Management Constltutlon Bentley Priory Battle of Britain Trust is a company limited by guarantee governed by its Memorandum and Articles of Association dated 29 November 2005. as amended by a written resolution on 11 July 2006. It is registered with the Charities Commission, registered number 1115243 with effect from 12 July 2006. Anyone can become a member of the Company. if approved by the board of trustees, and there are currently 10 members, each of whom agree to contribute £10 in the event of the charity winding up. Method of A ointment or Election of Trustee5 As set out in the Articles of Association the Chair of Trustees must be a trustee who should be a retired officer of the Royal Air Force in the rank of at least Air Vi-marshal. If no such person is, in the opinion of the Directors, suitable or no such person is available then at the Directors, dlscretion the chairman may be a Director who is a retired officer of the Royal Air Force. Following the first Annual General Meeting where all directors must retire from office, one third of the directors retire by rotation at subsequent Annual General Meetings. Trustees are eligible for re- election. New Trustees are appointed at the recommendation of the Board of Trustees and all members are circulated with invitations to nominate trustees prior to the AGM. any5ational Structure and Dedslon Makln The Board of Trustees administers the charity. The minimum number of Trustees is 2. and the Trust is fortunate to have an exPeriend, strong board of 9 Trustees, who bring a wide range of skills to the organisation. A Skills Matrix of Trustees is regularly updated. On 28 July 2014, the Trustees endorsed the formation of an Executive Commlttee. to provide the Museum Dlrertor with an interface between the operational management of the museum and the strategic governance provided by trustees. The Executive Committee currently consisting of 5 Trustees and the Museum's Director. While strate8lC 8overnance is effected by the Trustee Board. the Museum Director has delegated authority to manage the museum operation and the associated resources in order to meet the annual objectives set by the Trustee Board. The Executive Committee of Trustees gives operational oversight and support. Routinely. the Executive Committee meet monthly. The Executive Committee can authorise additional expenditure beyond that endorsed by Trustees in the annual budget, which itself is based on the five-year business plan. subject to affordability, up to £5.000 per quarter for runnin8 Costs and £10,000 per quarter for CAPEX.
Risk Man ement The Trustees regularly examine the risk register which records the major strategic. business and operational risks that the charity faces. Trustees carefully monitor the income and expenditure of the Museum at Executive Committee and Board level to ensure financial stabiltty and sustainability. The Risk Re8lster is updated regularly and used to identtfy early waming of trends and to make Strategic decisions at Trustee meetings. Ob'ectives and Actfvltles Bentley Priory Battle of Britain Trust was founded at the request of the Battle of Britain Fighter Association, with a primary objective to create a Museum at Bentley Priory- Headquarters Fighter Command during the Battle of Britain. After 5 years of plannin& fundraisin& restoration and curation of accessible and engaging exhibrf(ions, Bentley Priory Museum was officially opened in September 2013. by HRH the then Prince of Wales. Patron of the Trusvs fundraising appeal. The Museum aims to raise awareness of the important history of Bentley Priory, focusing on its pivotal role during the Battle of Britain as Headquarters Fighter Command, through facilitating engagement with the Museum's unique collection and architecture. The Museum's narrative focuses on The One., Air Chief Marshal Sir Hugh Dowding, The Few, Battle of Britain aircrew, and The Man, those on the ground whose yrk was vltal to victory. The Trustees consider that they have complled with the duty in section 17{51 of the 2011 Ch3rities Act to have due regard to Charity Commission guidance on public benefit. Achievements and Perfomiance Vlsitor Engagement and Audience Developrnent Admlsslons and School Wisits In 2024, the Museum welcomed a total of lo54 vlsitors-the 3 highest number of visltors since the Museum opened in 2013. Of these, 8,784 were general admissions (adults. concessions and children as part of family vlslts) and 1,760 were students visiting as part of School groups to participate in facilitated workshops and gallery tours. The number of students visiting took the totsl number of students visiting the Museum since its doors opened in 2013 to over 10,000.
Projects Our National Lottery Heritage Fund projert'clerk, Speclal Dut5 was completed in 2024 with the creation of the 'Day in the Battle, interactive timeline and Bentley Priory WAAF database, displayed in the pemianent Operations Room gallery. The projett included an oral history recording of WAAF Clerk Special Dutles veteran Kate Orchard and the creation of new resource5 for Brownies. The Museum also commemorated the bicentenary of the Royal National Lifeboat Institute IRNLII with an RNU 200. Remembertng the Rescue of The Few project funded by the National Heritage Lottery Fund. on display from July 2024 until March 2025. Project volunteers researched and co- curated a temporary exhibition with the Museum's Collection Manager, families co-curated a temporary Stained Glass window and participated in family artmties duringthe Easter and Summer Holidays and new resources for Air & Sea Cadets were created. th The 80 Anniversary of DaY in June was marked by Tonic Choirfs 'Operation Nep'tune, concert and a temporary exhibition which highlighted the important role Bentley Priory played in the planning of all air operations for D-Day as the HQ Allied Air Expeditionary Force and HQ Air Defence of Great Britain. The exhibition included the chairs King George Vl and British Prime Minister Winston Churchill sat on to watch the progress of D-Day on 6 June 1944 at RAF Bentley Priorfs Bunker. £86,420 ha5 been secured from the National Lottery Fund to commemorate the Royal Observer Corps and 100 years since they were formed In 1925. The project launched in December 2024 wlth the recruitment of 20 project volunteers. to undertake oral history film and audio interviews of former ROC personnel and incorporate into a temporary exhibition. The ROC 100 project will be completed in November 2025.
Family Engagement The Museum continued to engage families through trails. backpacks, Saturday 'Scramble Club, and activities during the school holidays. During 2024, the following themed activities were offered to families durlng the School holidays: February Half-Term: WAAF Trail & Decorate Filter Counter Biscuits Easter: RNLI 200 Stained Glass Window May Half-Term: Intelligence & Invasion Stripes. Summer Holidays- Guinea Pig Trail & RNLI activities October 'Which Witch, Trail December: Meet Father Christmas Bentley Priory is committed to makingthe Museum welcoming and accessible to young people. Visitor feedback in October 2024 highlights the success of the Museum and its stsff and volunteer team in achieving this: Young children are not alway5 the most welcome ot museums.- they ore loud,. they like to run about where they con.. they con'tstoy in one ploce too long,. Sometimes Ifeel people wish they weren't there. But I didn'tfeel thatfor a second ot your museuml Every employee there spoke to my children like they were importont. like they and their time mattered too- and my boys loved itl SO I wanted to SOY thonk you so muchfor giving us o brilliant morning. but alsofor valuing children and the part they ploy in keeping history olive. We will be back soonl Visltor, October 2024 Temporary Exhibitions The Museum's temporary exhibition gallery hosted 2 exhibitions in 2024. Paul Joyce's Remembrance5 of War (November 2023- June 2024) showcased a selection of his painting, in a style reminiscent of Paul Nash. RNLI 200. Remembering The Rescue of The Few lJuFy 2024- March 20251 was co-curated by project volunteers and Museum staff, and highlighted the significance of the RNLI during the Battle of Britain in rescuing aircrew during the Battle of Britain before the development of the RAF'5 Air Sea Rescue later in the war. The exhibition was supported by a 'Guinea Pig. trail for children, inspired by an RNLI rescue story from Dunkirk, bringing back a French soldier and his Guinea Pig.
Battle of Britaln Commemoration The Battle of Britain commemorative period was marked by a visit of 53 Officer Cadets from The Royal Air Force Officer Training Academy at RAF Cranwell who participated in a Plotting Workshop and helped tidythe Italian Gardens and Bunker area. Our annual Battle of Britain commemorative day In September welcomed nearly 2(Kl visitors and was supported by Airfix, Harrow Radio Society, Harrow Apollo Male Choir and re*nattors, and volunteers doing popup talks. VJ Talks Programme Our Friday Morning Talks Programme continues to be well received by visitors, with 14 talks in 2024. Our second Dowding System Day in July welcomed Air Marshal Cliff Spink RAF {Rtd). sharon Ward and Anthony Inglis as speakers. Due to the success of volunteer 'Pop-Up Talks, on special commemorative days, 'Pop-Up Talks, have been introduced on general admission days.
Collertlons Management The Museum's collection has been developed through the loan of a marquette of the Battle of Britain Monument by artist Paul Day, depicting aircrew scrambling and St Paul's Cathedral. This striking marquette is now on display nextto the Battle of Britain Lace Panel, also depicting The Few and St Paul's Cathedral. 501 Squadron have loaned 7 original portraits of Battle of Britain aircrew. Funding will be th sought to add conseNation glass to them to enable their display for the 85 Anniversary of the Battle of Britain in 2025. Financial Review Wisitor Income General admissions of 8,784 generated an income of £48,149, slightly below the outlined budget of £50,000. Admissions cost5 (Single admissions and Annual Membership) will be increased from January 2025, for the first time since the Museum opened in 2013, to increase income generated through admissions. 1,760 students visiting the Museum generated £9,342- slightly above the £8,000 budget. £60,000 of funding from John Lyon's Charity ha5 been secured to help develop the Schools, programme over 3 years and ensure visits are financially accessible to Schools in the John Lyon's Charity beneficiary areas, including Harrow, Brent and Ealing. In the first year of the project (September 2024-August 2025) £20,000 will enable the Museum to develop resources for Secondary Schools and subsidise visits for Primary and Secondary Schools in the John Lyon's Charity benefiaal areas. In the second year of the project, new resources will be developed for KSI students and in the third year. new resources will be developed for SEND students. The Museum's Café performed well generatlng £27,207 profrt (budget of £27,000). The shop generated a profit of £5,999 (budget of £7,500) and venue hire secured £7,157 for the Museum ts-u5t under the £8,000 budget)- with venue hire notably recovering in the latter part of the year after a slow QI & Q2.
The Endowment Fund The Endowment Fund delivered £116.(KK), reflecting its stable position in 2024. Project Income (Restricted) The £8,308 NLHF Clerk, Special Duties project was completed, with an underspend enabling the creation of a Bentley Priory WAAF database. The RNLI 200 project was successfvlly delivered through a £IO.000 grant from the National Lottery Heritage Fund during 2024. John Lyon's Charity funding of £60,000 will support the development and financial accessibility of the Museum's School Programme over 3 years {September 2024- July 2027), with a £20,000 grant per annum. £86,420 has been secured from the National Lottery Heritage Fund to deliver a Royal Observer Corps heritage project December 2024- November 2025. Interest Trustees reviewed the Trust's interest from its Shawbrook Account, with interest rising from October 2024. Gol Concern The trustees have a reasonable expectation that the company has adequate resourced to continue in operational existence for the foreseeable future. For this reason. they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. Reserves At the AGM on 28 September 2022 Trustees agreed and adopted a Reserves Policy whlch In accordance wlth the requirements of the Charity Commission takes account of: a major and expensive disruption to our operation; a degradation in revenue that ultimately leads to the failure of the museum: the routine replacement of the interpretstion equipment and display material. The interim total level of reserves for 2017 was set at £IOO.Iy)O with the expectation of an increase to £200,000 in future years provided that the Museum's core revenue streams reach their growth target5. During 2021, in response to the real threats to Small museum's from Covid the Trust further agreed that there was a requirement to further develop the Reserves policy. It was agreed that there should be:
A designated maintenance fund of £IOO,000 to meet the routine replacement and maintenance of fixtures and fittings and interpretation and display material A Deslgnated Closure Reserve of £IOO.(NXI whlch wuld enable the Trust to meet governance, employment and lease obligations in the eventofclosure. The Trust had totsl reserves at 31 Dember 2024 of £727.492. Libor Funding is accounted for in a separate designated fund, the Libor Fund. The balance on this fund at 31 December 2024 was £271508. Further restricted funds amounted to £77,759 at the balance sheet date. Detsils of these can be found in Note 17 to the accounts. A designated fund of £30 000 was initially set as seed funding for a future development of the Operations Room, this has a balance at 31 December 2024 of £21,316. Additionally, a designated fund of £322 has been set towards the fvnding for the restoration of the bunker door handle. Thi5 report was approved by the Trustees on 01 July 2025 and signed on their behalf by: Wing Commander E J Ferguson RAF, Secretary io
THE BENTLEY PRIORY BAThLE OF BRITAIN TRUST (A Company Ilmlted by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Indepondent examiner's report to the Trustees of The Bentley Prlory Battle of Brltaln Trust {'the Company.) l Teport lo the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2024. Rgsponsibilities and basls of report As the Trustees of the Company (and ils directors for the purposes of company law) you are responsible for tho preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'l. Having satisfied myself that the accounls of the Company are not required lo be audited under Part 16 of the 2006 Acl and are eligible for independent examination. I report in respect of my examinalion of the Company's accounls carried out under seclion 145 of the Charities Act 2011 1.the 2011 Acl'}- In carrwng out my examination I have followed the Directions given by the Charity Commission under section 145151{b} of the 2011 Act. Independent examinees statement Since the Companls gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified lo undertake the examination because l am a member of The Instttute of Chartered Accountsnts in England and Wales. which is one of the listed bodies. I have completed my examination. I confimi that no matters have come to my attention in connection with the examinalion giving me cause to believe-. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or th6 accounts do not accord with those records: or the 8c¢ounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a Irue and fairf view which is not a matter considered as part of an independent examination: or the accounls have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable lo charities preparing their accounts in a¢cordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no cOnrnS and have come across no other matters in connection with the examination to whlch attention should be drawn in this report in order lo enable a proper understanding of the accounts to b8 reached. This report is made solely to the Companls Trustees. as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Companls Trustees those matters l am required to state to them in an Independent examinerfs report and for no other pose. To Ihe fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the CoMpanS Trustees as a body. for my work or for this report. Signed.. Dated: (}.oq.>" Roland Parry FCA Institute of Chartered Accountants in England and Wales Magee Gammon Corporate Limited Chartered Accounlants Page 11
THE BENTLEY PRIORY BAThLE OF BRITAIN TRUST (A company limited by guarantee STATEMENT OF FINANCIAL ACTWITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities Investments Other Income 100.518 7.652 233,256 7,173 4,165 108,170 233.256 7,173 4,165 127.374 230,084 3, 724 3, 680 Total in¢orne 100.518 252.246 352.764 364.862 Expgnditure on: Charitable adivities 45,077 313,139 358,216 400,789 Total expenditure 45.077 313.139 358,216 400, 789 Net incomel{expenditure) Transfers between funds 55,441 433 (60,893) 1433) {5,4521 (35,927) 17 Net movement in funds 55.874 {61,326) 15.4521 (35,927) Re¢onclllatlon of funds: Total funds brought forward Net movement in funds 293.393 55,874 439,551 (61,326) 732.944 15.452) 768,871 (35,927) Total funds carrled fonvard 349.267 378.225 727.492 732,944 The Statement of financial activities includes all gains and losses recognised in the year. The note5 on pages 14 to 29 form part of these financial statements. Page 12
THE BENTLEY PRIORY 8ArrLE OF 8RrrAIN TRUST IA company Ilmlt•d by guaranti•? REG18TERED NUMBER: OJe99463 BALANCE SHEET AS AT 31 DECEMBER 2024 2023 Nol• Tangbb assets 12 151,147 144.864 1$1.147 fH.864 13 14 15.193 33W8 561.759 17,267 40.848 554365 Cagh atbank aThJ n hand 616.4ao 15 (33,6151 (28.49 727N92 73194 17 349267 378.225 293.393 4W.551 17 Totsl funds T17A92 732.944 The statements twe b8eTr wepated In adan with lh• ptovi¥l0fis aWKable lo thlili•s suwt the smaN ¢L¥npa1l re. 69mpk slgned on thelr behalf by. I C The nows on pag¢s 14 to 29 f(Mm pwi of Use $lalomonts. • Pago 13
THE BENTLEY PRIORY BAThLE OF BRITAIN TRUST {A company limited by guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General Information The Bentley Priory Battle of Britain TTUSI. a charitable ttU5t. incorporaled in England and Wales under company number 05639463. registered with the Charity Commission under charÉty number 1115243. The registered office of the charity is Bentley Priory Museum, Mansion House Drive. Stanmore. Middlesex. HA7 3FB. The company is limited by guarantee. The members of the company are the trustees named on page 1. In the event of the company being wound up. the liability in respect of the guarantee is limited to £10 per member of the company. Accountlng policies 2.1 Basls of preparation of financial statements The finanaal statements have been prepared in accordance vAth the Charities SORP IFRS 102) - Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporttng Siandard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102} and the Companies Act 2006. The Bentley Priory Batlle of Britain Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheiSe stated in the relevant accounting policy. 2.2 In¢ome All income is recognised On the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of enlitiement to a legacy exists when the Company has sufficient evidence thal a gift has been left to them (through knowledge of the existence of a valid w411 and the death of the benefactor) and the executor is satisfied thal the property in question will not be required lo satisfy claims in the estate. Receipt of a legacy musl be recognised when il is probable that il will be received and the fair value of the amount re¢vable. bthich will generally be the expected cash amount lo be dislribu18d to th8 Company, can be reliably measured. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is defeffed and included in creditors as deferred income. Where entitlement occurs before income is received. the income is accrued. whe the donated good is a fixed asset, it is measured at fair value, unless il is impractical to measure this reliably, in which case the cosl of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amounl is included in Ihe appropriate fixed asset class and depreciated over Ihe useful economic lrfe in accordance wilh the Companvs accounting policies. On receipt. donated professional services and facilities are recognised on the basis of the value of the gift to the Company which is the amount tt would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. a corresponding amount is then recognised in expendiiure in the period of receipt. Page 14
THE BENTLEY PRIORY BALE OF BRITAIN TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting poli¢les (¢ontlnued) 2.2 Income (continued) Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. Income tax recoverable in relation to investment income Is recognised at the time the investment income is receivable. Other income is recognised in the period in which it is receivable and lo the extent the gdS have been provided or on completion of the service. 2.3 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a third paty. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligalion can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direcl costs attributable to a single activity are allocated directly to that activity. Shared costs which contributé lo more than one activity and support costs which are not attributsble to a single adivity are apportioned between those activities on a basis consistent with the use of resources. Central slaff costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on chaTitable actyvities is incurred on difecuy undertaking the activities which further the Companrfs objectives. as well as any associated support costs. All expenditure is indusive of ecOVerable VAT. 2.4 Tangible fixed assets and depreciation Tangible fixed assets costing £500 or more are capstalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initialty recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impaimient losses. All costs incurred to bring a tangible fixed asset into ils intended working condllion should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tsngible fixed assets less their residual value over their estimated useful lives, on an appropriate basis. Depreciation is provided on the fdlowing bases: Plant and machinery Fixtures and fittings Office equipment Between 3 years and 6 years straight line Belween 3 years and 25 years straight line 33YD straight line 2.5 Stocks Stocks are valued at the lower of c05t and net realisable value after making due allowance for obsolete and slow-moving stocks. C05t includes all di¢1 costs and an appropriate proportion of fixed and variable overheads. Page 15
THE BENTLEY PRIORY BAThLE OF BRITAIN TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcles (contlnued) 2.6 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and in hand Cash at bank and in hand includes cash and short-ierm highly liquid investments with a short maturity of three months or less from the date of acquisition or opening ol the deposit or similar accounl. 2.8 Llabilltles and provisions Liabilities are recognised when there is an obligation al the Balance sheel dale as a result of a past event. it is probable that a transfer of economic benefrt will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipales it ¥MII pay to settle the debt or the amount it has received as advanced payments for the goods or services il must provide. Provisions a measured al Ihe best estimate of the amounts required to settle the obligation. Where the effecl of the time value of money is material. Ihe provision is based on the present value of those amounts. discounled at the pre-tax discount rate that reflects the risks specific to Ihe liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cosL 2.9 Financlal Instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial inslruments are initially recognised at transaction value and subsequently measured at their settlement value with thé exception of bank loans which are subsequently measured at amortised cost using the effective inlerest method. 2.10 Penstons The Company operates a defined conlribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of Ihe year. 2.11 Fund accounling General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of Ihe general objectives of the Company and which have not been designated for other purposes. Designated fvnds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each desigrbaled fund is sel out in the notes lo the financial Statements. Restricted funds are funds whtch are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such lunds are charged against the specific fund. The aim and use of each restricted fund is set out in the noles io the financial stalements. Investment income, gains and losses are allocated to the appropriate fund. Page 16
THE BENTLEY PRIORY BALE OF BRITAIN TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from grants, donations and legacies Restricted Unrestrlcted funds funds 2024 2024 Total funds 2024 Donations Grants 7,652 7,652 100.518 100,518 100,518 7.652 108.170 Restricted Unrestricted funds fvnds 2023 2023 Total funds 2023 Donations 49,648 49.648 7T. 726 Grants 77.726 77.726 49.648 127.374 Income from charitsble acllvltles Unrestrf¢ted funds 2024 Total funds 2024 Museum entrance income Endowment income Shop and catering income Room hire and evenl income 57.491 116.000 54,412 5.353 57,491 116,000 54,412 5,353 233,256 233,256 Page 17
THE BENTLEY PRIORY BArrLE OF BRITAIN TRUST (A ¢ompany Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from charitable a¢tlvllles (contlnued) Unrest17Cted funds 2023 Total funds 2023 Museum entrance income 55.418 776,000 51,794 6.872 55.418 116,000 51.794 6,872 Endowment income Shop and catering income Room hire and event income 230,084 230.084 Investment income Unrestricted funds 2024 Total funds 2024 Interest received 7,173 7,173 Unrestricted funds 2023 Total funds 2023 Interest reiVed 3, 724 3, 724 Other incoming rosources Unrestricted funds 2024 Total funds 2024 Royalties Partial exemption VAT recoupment 4.159 4,159 4.165 4,165 Page 18
THE BENTLEY PRIORY BAThLE OF BRITAIN TRUST (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Other incoming resour¢es (¢onllnued) Unr8Stricted fvnds 2023 Total funds 2023 Outreach programme Parhal exemplion VAT recoupment 68 3,612 68 3.612 3,680 3,680 Analysis of expendlture on charitable activities Summary by fund type Restricted Unreslrlcted funds funds 2024 2024 Total 2024 Museum ¢osls 45,077 313.139 358.216 Restricted Unreslricted funds funds 2023 2023 Total 2023 Museum cosls 60, 766 340,023 400. 789 Analysls of expenditure by activities Support costs Total funds 2024 2024 Museum costs 358,216 358,216 Page 19
THE BENTLEY PRIORY BAThLE OF BRITAIN TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expenditure by activities (continued) Support costs Total funds 2023 2023 Museum costs 400, 789 400, 789 Analysis of support costs Total funds 2024 Activitles 2024 Staff costs 150,158 40,183 29,388 33.787 26,075 21,964 489 19.216 2,011 11.089 3.258 20.598 150,158 40,183 29,388 33,787 26,075 21,964 489 19.216 2,011 11,089 3,258 20.598 D8pr8ciation Insurance Mainlenance costs Rales and utility bills Administration and office expenses Learning centre activities Museum costs Marketing costs Accountancy fees Independenl examination fees Shop and catering expenses 358.216 358.216 Page 20
THE BENTLEY PRIORY BAThLE OF BRITAIN TRUST (A company Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expendlture by actlvltles Icontlnued) Analysis of support c¢)sts (continued) Total funds 2023 Activities 2023 Slaff costs Depreciation Insurance 14t,971 63.836 26,670 40,569 15,536 27,927 547 14 1.971 63,836 26,670 40,569 15,536 27,927 547 Maintenance costs Rates and utility bills Administration and office expenses Learning centre aclivities Museum costs 50,000 1.634 9.270 3.306 19.523 50, 000 1,634 9,270 3,306 19,523 Marketing costs Accountancy fees Independent examination fees Shop and catering expenses 400, T89 400, 789 Independent examinerfs remuneration The independent examinerfs remuneration amounts to an independent examiner fee of £3.258 12023 - £3,306). Page 21
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribulion pension schemes 140.249 6,097 3.812 133,381 4. 988 3,602 150.158 141.971 The average number of pers$ employed by the Company during the year was as follows.. 2024 2023 No. No employee received remuneration amounting to more than £60.000 in either year. 11. Trustees. remuneratlon and expenses During Ihe year. no Trustees received any remuneration or other benefits (2023- £NIL). During the year ended 31 December 2024. no Trustee expenses have been incurred (2023 - £NILJ. Page 22
THE BENTLEY PRIORY BArrLE OF BRITAIN TRUST (A ¢ompany Ilmlted by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. Tangible fixed assets Plant and Flxlures and machinery flttings Office equipment Total Cost or valuatlon At 1 January 2024 Additions 174.881 43,927 1.032,246 1.299 27,492 1,238 1.234,619 46,464 At 31 December 2024 218,808 1,033,545 28,730 1,281,083 Depreciation At l January 2024 Charge for the year 170.599 10,258 892,333 29,265 26,823 658 1,089,755 40,181 At 31 December 2024 180,857 921,598 27.481 1,129,936 Net book value At 31 December 2024 37.951 111.947 1,249 151,147 At 31 December 2023 4.282 739.913 669 144,864 13. Stocks 2024 2023 Finished goods 15.193 t7,267 14. Debtor5 2024 2023 Due within one year Other debtors Prepayments and accrued income 7,535 25,473 16,294 24.554 33.008 40,848 Page 23
THE BENTLEY PRIORY BAThLE OF BRITAIN TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Credltors: Amounts falling due within one year 2024 2023 Trade creditors Other taxation and social secunty Pension fund loan payable Accruals and deferred income 2,666 3,298 1.101 26,550 3,499 3,219 1,020 20,662 33,615 28,400 16. Financial instruments 2024 2023 Flnanclal assets Financial assets measured at fair value through income and expenditure 561.759 558,364 Financial assels measured at fair value through income and expenditure comprise cash al bank and in hand. Page 24
THE BENTLEY PRIORY BAThLE OF BRITAIN TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Statement of funds statement of funds - current year Balance at 31 Balance at 1 January 2024 Transfers inlout December 2024 Income ExpendHure Unrestricted funds Designated funds Perpetual Maintenance Fund Closur8 Reserve 100.000 100.000 23.000 322 100,000 100,000 21.316 322 Operations Room Bunker Door Handle (1,684) 223,322 11,684) 221,638 General funds General Funds 216.229 252.246 1311.455) (433) 156,587 Total UnTe5tricted funds 439,551 252.246 (313,139) (4331 378,225 Restrlcted funds The Ministry of Defence ILIBORI Clerk Special Duties IHLF) IWM 14-18 NOW Legacy Fund RNLI 200.. Remembering of 'The Few, The Eyes and Ears of the RAF John Lyons Charity 277.738 15,655 16.230) {24,402) 271,508 8,308 439 19,000 13,408) 15.592 10,000 43.210 20,000 (9,994) (6) 43,210 18,957 (1,043) 293,393 100,518 (45,077) 433 349,267 Tolal of funds 732.944 352.764 (358.2161 727,492 Page 25
THE BENTLEY PRIORY BAThLE OF BRITAIN TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Statement of funds (continued) statement of funds - prior year 8818nce at 31 December 2023 Balance at 1 January 2023 Trdnsfers in/0 Income Expenditure Unrestricted funds Designated funds Perpetual Maintenance Fund Closure Reserve Operalions Room Bunker Door Handle 100.0(2) 100,000 30.000 322 100.000 100,000 23,000 322 (7,000) 230,322 (7,000) 223,322 General fund5 General Funds 257,853 287.736 (340,023) 11.263 216,229 Total Unrestricted fund5 488. 7 75 287.136 (340,023) 4,263 439,551 Restrided funds The Ministy of Defence ILIBOR) AIM Gallery Blinds Clerk Special Duties IHLF) 277,738 2.958 277.738 2.954 74.772 (5.912) (54,854) (4,263J 15,655 280,696 77, 726 (60, 766) (4.263) 293,393 Total of funds 768.871 364,862 {400, 789) 732,944 Page 26
THE BENTLEY PRIORY BAThLE OF BRITAIN TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Description of funds The Ministry of Defen (LIBOR) (Restricted Fund) LIBOR funding from the Ministry of Defence IMOD) on behalf of Her Majesws Treasury (HMTI to enable the enhancemenl of the Museum's Leaming Centre, devebp the Schools Leaming Resource and to subsidise school lessons. The National Lottery Heritsge Fund (Restricted Fund) The Bunker funding from the National Lottery Fund for Heritage is a granl lo deliver a project. focusing on the changing role of the Bentley Priory Bunker and ihose who worked underground in it from World War 2 to the Cold War. The transfer in the year is to reimburse the exp8ndilure and staff costs incurred by the general fund on behalf of this project. Association of Independent Museums (AIM) {Restricted Fund) The funding received from Association of Independent Museum5 is a grant for the fitting of blinds to one of the museums galleries to prevenl sunlight damage to the collection. This was fully expensed by the balan sheet date. Perpetual Maintenance Fund (Designated Fund) In 2017 the trustees set up this designated fund to cover the Charitvs running costs in the event of major disruption. Closure Fund (Designated Fund) In 2021 the trustees set up this designaled fund. of £100.000. which would enable the Trust to m8et governan. employment and lease obligation in the event of closure. Operations Room Fund (Designated Fund) A designaled fund of £30.000 has been set towards the funding for future developments of the Operations Room, by the trustees, in Ihe previous year. Expenditure since has seen the balance redu to £21.316 at the balance sheet date. Bunker Door Handle Fund (Designated Fund) A designated fund of £322 has been sel lowards the funding for the restoration of the bunker door handle. Clerk Special Duties IHLF) A grant received from The National Lottery Heritage Fund. focusing on the WAAF who served in the role of 'Clerk, Special Duties. during World War 11. Project volunteers recnjited to co-curale a t9mporary exhibition and new interactive timeline 'Day in the Battle.. with new resources created for families and for Brownie5. IWM 14-18 NOW Legacy Fund A grant for a new project initiated in 2024 working with community partners and artisits on a new art commissions and related public engagement activities. Page 27
THE BENTLEY PRIORY BAThLE OF BRITAIN TRUST {A Company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Des¢rlptlon of funds contlnued RNLI 200: Remembering of The Fe A Granl received in 2024 to create a temporary exhibition to highlight the significance of the Royal National Lifeboat Instttution during the Batt]e of Britain in rescuing aircrew during the Bawe of Britain before the development of the FiAF's Ir Sea Rescue later in the war. The Eyes and Ears of the RAF A new projeci in December 2024 lo commemorate the Royal Observer Corps and its form8tion in 1925. Half ol the fursding has been received by Ihe balance sheet date. John Lyons Charity John Lyon's Charity funding of £60.000 will support the development and financial accessibility of the Museum's School Programme over 3 years (September 2024 July 2027), with a £20,000 granl per annum. 19. Summary offunds Summary of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Transfers inlout Income Expenditure Designated funds General funds Restricted funds 223.322 216,229 293.393 (1,684) (311,455) (45.077) 221,638 156,587 349,267 252246 100.518 14331 433 732.944 352,764 1358,216) 727.492 Summary of funds- prforyear BalanGe at 31 Dember 2023 Balance at 1 January 2023 Transfers inlout Income Expenditure Designated funds General funds Restricted funds 230,322 257.853 280,696 {7.OOOJ 11,263 (4.263) 223,322 216,229 293,393 287. 136 77, 726 (340.023) (60, 766) 768,871 364.862 (400, 789) 732,944 Page 28
THE BENTLEY PRIORY BArrLE OF BRITAIN TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. Analysis of net assets between funds Analysis of net assets between funds - current period Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assels Current assets 151.147 260,693 133,6151 151.147 609,960 (33,6151 349,267 Creditors due within one year Total 349,267 378,225 727,492 Analysis of net assets between funds - prlor perlod Restricted Unrestricted fvnds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year 144.864 321.177 (26,490) 144,864 616,480 (28,400) 295.303 (1,910) Total 293.393 439.551 732,944 21. Pension commitments The trust operates a defined contribution pension scheme. The assets of the Scheme are held separately from those of the tnjst in an independently administered fund. The pension cost charge represents contributions payable by Ihe Irust to the fund and amounted to £3,812 12023 - £3,602). Contributions totalling £1,101 (2023 - £1,020) We payable lo the fund at the balance sheet date and are included in creditors. Page 29