COMPANY REGISTRATION NUMBER . 06474550 BAWDSEY RADAR TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 CHARITY NUMBER . 1125600 Illllllll AAF65W7 1511012021 COMPANIES HOUSE
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BAWDSEY RADAR TRUST FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021 CONTEl+JTS PAGE Members of the Board and professional advisers Trustees Annual Report Independent examiner's report to the members Statement of financial activities Ilncluding income and expenditure account) Balance Sheet Notes to the financial siatements 9-16
BAWDSEY RADAR TRUST TRUSTEES AND PROFESSIONAL ADVISERS Registered chafity narne Bawdsey Radar Trust Chaiity number 1125600 Company reglstration number 06474550 Principal Address & Registered Office The Transmrtter Block Bawdsey Woodbridge Suffolk IP12 38A Dirertor5 John Edward 8rooking- resigned 1610612020 Sue Margaret Michell Graham Randall David John Heath- resigned 0910812021 Diane Clouting Toby King - resigned 0910812021 lain Dunnett Peter Graham Murchie Kathryn Jane Riddington Kevin John Sullivan - appointed 1110612020 Independent Examiner Beatons Limited Chartered Accountants 7 Three Rivers Business Park Felixstowe Road Foxhall Ipswich IPIO OBF
BAWDSEY RADAR TRUST TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2021 The Trustees present their report and the independently examined financial statements of the Charity for the year ended 31 March 2021. Reference and Administrative Detai15 Reference and administrative details are shown in the schedule of Trustees and Professional Advisers on page l of the financial Statements. The Trustees John Edward Brooking- resigned 16 June 2020 Sue Margaret Michell Graham Randall Oavid John Heath- resigned 9 August 2021 Diane Clouting Toby King- resigned 9 August 2021 lain Dunnett Peter Graham Murchie Kathryn Riddington Kevin John Sullivan- appointed 16 June 2020 Appointment of Trustees Trustees are recruited through adverts in relevant local publications and recruitment website5 {such as NCVO, AIM etcl. The charity acknowledges the benefits of diversity and is seeking greater diversity through the recruitrnent process. A recruitment panel of selected trustees and an independent person holds final interviews. Objectives of the Charity The Charity is a Company limited by guarantee and has no share capital and was incorporated on the 16 January 2008. The Charity was established under a Memorandum of Association and is governed nder its Articles of Association The objectives of the Charity are - l. To preserve for the benefrt of the people of East Anglia and of the Nation. the historical. architectural and corbstructional heritage that may exist in and around East Anglia. buildings lincluding any strurture or erection, and any part of a building as so defined) of particular beauty or historical, architectural or constructional interest, and 2. To advance education of the public in the discovery. development and use of radio direction and ranging radar at Bawdsey, Suffolk. The Charitable Objects of the Trust were extended during the year to reflect the operation of the museum at the Transmitter Block and now include an additional statement = 'To advante education of the'public by maintaining a museum for the exhibition and preservation of objerts and information illustrating the central role that 8awdsey, Suffolk played in radar development."
The Charities aim is to conserve the transmitter block at 8awdsey. create a unique exhibition, educational facility and visitor attraction. to explain how radar was developed, and to record the centr31 role that Bawdsey and radar played in saving our country during the Battle of Britain. The Trustees confirm that they have paid due regard to the Charity Commi55ion's guidance on public benefit and have strived to ensure that the Charity's artivities reflect thi5. Review of Adi¥itie5 and surnmary of the year With the global Covid-19 pandemic and the national restrictions in place for many months, the year has been one of mainly remote working for trustees and volunteers using the technology of Zoom to maintain contatt and to make progress with a number of projects funded through the National Lottery Heritage Emergency Fund ènd SHARE Museums East. The trustees are immensely grateful for this support and have used the time and funding to improve our sustainability with new features for the museum and to extend our ability to reach national audiences. The volunteers have remained engaged throughout the long closure and have really appreciated the regular 'tea bre3ks' that have been organised by Lynette Burgess (Visitor Services and Outreach Manager). These social gathering on Zoom have been 3 great success with the chance for volunteers to dial in and keep in touch with other volunteers and the trustees. On alternative weeks, a short 'Round Robin, note is sent around with news of other activities and projects that have been progressing in the background. Not only has the volunteer team been engaged throughout the year, but new volunteers have now joined and are already contributing to a number of the activities. In addition. the Trust hos joined the Kickstart scheme and an intern has been accepted to join the volunteer team. All the trustee5 warmly acknowledge the F)OSitive spirit by the volunteers and their continuing commitment to the museum and to the projects and activities that our visitors so enjoy. In October a Digital Engagement project funded by the National Lottery Heritage Emergency Fund was completed within budget and on time. This project was built around a number of new digital elements designed to broaden our offering and included The recording and broadcast of a series of podcasts A range of family activities added to the website The introduction of an on-line retail shop Installation of an online ticketing system for visitors A Virtual Reality tour showing the inside of the Transmitter Block A short YouTube film diKussing the tracing of WWII service records In the past year. the Trust has been involved in two major initiatives with external partners. During September. the Board was delighted to support the RAF Benevolent Fund in their unique promotion to get RAF veterans and their families 'back on the radar,. They estimated that as many as 300,OCKI members of the RAF Family could be out there and in need of life-changing support. With some stunning video sequentes projected onto the concrete blast walls as the sun went down at Bawdsey, the resultant film captured the imagination of everyone involved. Following discussions that started in 2019. the Trust has partnered with BT Martlesham to support their graduate apprenticeship scheme. Acting as the client to a team of apprentices, the Trust requested a new virtual tour of the Bawdsey radar site to provide our visitors with a graphic illustration of how the area would have appeared when the four large transmttter towers were in
place. Using the purpose-built BT'hothouse' at Martlesh3m, the apprentices are now working on the software implementation of this tour which will be released in phases starting later thbs year. Funded by SHARE Museums East. a project to capture the story of WAAF'S on the frontline during WW2 has been installed in the exhibition together with a short audiolvisual presentation. The Trust will launch this new exhibition in the early part of the season. Funded by SHARE Museums East. a project to capture the story of WAAF'S on the frontline during WW2 was completed and new exhibition panels have been produced together with a short audio/visual presentation. The Trust is eager to formally launch this new exhibition as soon as possible. Achievements and performance In the month of October. the Transmitter Block was opened to the public with full Covid measures in place and although the number of visitors was restricted in line with the published government guidelines, the feedback wa5 very positive. It was clear that the revised operation with pre-booking, timed slots and the one-way flow through the building provided reassurance to visitors, staff and volunteers. With the museum closed again as the next wave of the pandemic took hold, the Trust considered how to expand our digital work and in particular how remote visitors could be offered a tour. Following a review of a robot in use within BT. the Trust purchased a similar robot using donations from visitors and has now developed a fully interactive tour via Zoom for launch in the second half of 2021. One of the major developments behind the scenes during lockdown has been the development of our processes and documentation around our collection. Led by a trustee (David Heathl with a team of volunteers, a new software system (Modes) has been installed and the inventory of all our artefacts has been recorded using the Spertrum standard. In addition, a raft of documents has been produced and signed off by the Board to support our application for museum accreditation against the Arts Council UK standard. These documents cover our governance processes, our visitor services. as well as the management of our collection. The Board 15 working to submit the formal application in the middle of.this year. The 2021 season of public open day5 is planned to start in June and run through until December. During this period the Operations Group will schedule a range of activitie5, talks and are introducing Short tours around the grounds of the Transmitter Block to provide more information on the construction and heritage of the site. The key risks for the next 2 years are centred around our ability to re-build our incorne streams after the pandemic and after the end of our major grants programme. In the light of these major changes, the Board has held future planning workshops and has agreed a 3-year Forward Plan. A further emergency grant of £8,000 has been received from East Suffolk Council and this will help reduce the1055 expected in the coming year based on reduced visitor numbers and the increased ¢ost of cleaninB and other Covid-19 measures introduced. Financial Review At 31 March 2021 the unrestricted funds were £74.432 the restricted funds were £153.393 and funds totalled £227,825.
Thanks to continued financial support in terms of grants the loss of income caused by the pandemic was largely offset. The trustees have also looked carefully at all expenditure and have put in place prudent budgets for the next few years Reserves Poliry The Trustees previously agreed that an Operational Reserve of £20K should be built up when possible in case of a major incident not covered by our insurance. The current level of £ISK ha5 been reviewed by the Trust and it was agreed that this will remain at this level for the coming year although the Trustees will continue to review this level in the light of Covid-19 experience. Future Strategy The 20215e3son is being viewed as a transitional year as the governTnent relaxes the widespread Covid-19 restrictions. The Trust will continue to operate a cautious approach to public open days and will in particular Seek visitor feedback throughout the year. The coming year will again be challenging with the need to carefully manage the cost base as we rebuild the visitor numbers and torresponding income. With the introduction of new and innovètive digital resources. the Trust is adively seeking to introduce new income Streams from a.national and international audience. The.Trust is committed to achieving formal museum accreditation as a key step in our continuing growth. An AIM Pilgrim Trust award has also been secured to review our collections documentation and for a conservator to work with the team to improve the care of the collection. This will help shape the work in the coming year and provide guidance around best practice. The future is clearly going to be very demanding but the Trust continues to draw on the skills and dedication of all of the team. Approved by the Tr Stee5 and signed on their behalf by: G. Randal Chair of Bawdsey Radar Trust 21 september 2021
BAWDSEY RADAR TRUST INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE BAWDSEY RADAR TRUST YEAR ENDED 31 MARCH 2021 I report on the accounts of the company for the year ended 31 March 2021 which are set out on pages 7 to 16. Respective responsibilities of trustees and independent examiner The trustees (who are also the director5 of the company for the purposes of company lawl are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144121 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination. it is my responsibility to.. examine the accounts under section 145 of the 2011 Act- follow the procedures laid down in the general Dirertion5 gwen by the Charity Commission under section 1451511bl of the 2011 Act- and state whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried OLbt in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking explan3tions from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given a5 to whether the accounts present a "true and fair Vie% and the report is limited to those matters set out in the statement below. Independent examiner's Statement In connection with my examination, no matter has come to my attention:. 111 which give5 me reasonable cause to believe that. in any material respect. the requirement5- to keep accounting records in accordance with sertion 386 of (he Companies Act 2006,- and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice= Accounting and Reporting by Charities have not been met: or 12) to which. in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. 8eatons Limited Chartered Accountants 7 Three Rivers Business Park Felixstowe Road Foxhall. Ipswich IPIO OBF 21st September 2021 J J Oakley F. C. A
BAWDSEY RADAR TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNTI YEAR ENDED 31 MARCH 2021 Unrestricted Funds Restricted Funds Total Funds 2021 Total Funds 2020 Note INCOMING RESOURCES Incoming resources from Eenerating funds.. Voluntary income Donations and other income Activities for generating funds Bawdsey Reunion Asso Merchandise sales Income from charitable activities Grants Investment income 2.530 2,530 27.170 2.590 10.9S6 1.913 1.913 350 53,527 li 53.877 17 94,708 75 TOTAL INCOMING RESOURCES 4,799 53,538 58.337 135,499 RESOURCES EXPENOED Costs of generating funds= Bawdsey Reunion A550C Costs Charitable Activities Fund Raising and Advertisin8 inc website Merchandise costs 3,621 5,518 11,681 4,306 132 3.804 9.557 3.936 9.557 679 679 Charitable activities 2,933 75,801 78,734 112.889 Governance costs 1,620 1,620 1.200 TOTAL RESOURCES EXPENDED 3,744 90,782 94,526 139.215 NET OUTGOING RESOURCES FOR THE THE YEAR I NET EXPENDITURE FOR THE YEAR 1.055 137.2441 136,189) 13.7161 Transfers between funds RECONCILIATION OF FUNOS Total funds brought forward 73.377 190,637 264,014 267,730 TOTAL FUNOS CARRIED FORWARD 74,432 153,393 227,825 264,014 The statement of Financial Activities includes 311 gains and losse5 in the year and therefore a 5taternent of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities The notes on pages 9 to 16 form part of these financial statements
BAWDSEY RADAR TRUST BALANCE SHE YEAR ENDED 31 MARCH 2021 Note 2021 2020 FIXED ASSETS Tangible assets 124,783 155.381 CURRENT ASSETS Stock Debtors Cash at bank and in hand 6.970 13,687 88,034 108.691 6,594 53.616 60.144 120.354 CREDITORS: Amounts falling due within one year io 15.6491 111,7211 NET CURRENT ASSETS 103.042 108,633 TOTAL ASSETS LESS CURRENT UABILITIE5 227.825 264,014 NET ASSETS 227.825 264.014 FUNDS Restricted income funds Unrestricted income funds 12 13 153.393 74.432 190.637 73,377 TOTAL FUNDS 227.825 264.014 For the financial year ended 31 March 2021 the company was entitled to exemption from audit urbder section 477 of the Companies Act 2006 relating to small companies. Trustees responsibilities- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476,. The trustees acknowledges their responsibilities for cornplying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companie5. regime. These financial statements were approved by the Directors and Management 8oard on the 21st September 2021 and are si on their behalf by= G. Rand Chair o Bawdsey Radar Trust Company registration Number= 06474550 The notes on pages 9 to 16 form part of these financial 5tatement5
BAWD5EY RADAR TRusr NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES General information and basis of pieparation The Charity is a Company limited by guarantee and has no share capital. The Charity is incorporated in England and Wales. The address of the registered office is The Transmitter Block, Bawdsey, Woodbridge, Suffolk, IP12 3BA. The nature of the charity's operations and principal activities are to conseThe the transmitter block at Bawdsey, create a unique exhibition. educational facility and visitor attraction, to explain how radar was developed. and to record the central role that Bawdsey and radar played in saving our country during the Battle of Britain. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16th July 2014 las updated through Update Bulletin I published on 2nd February 20161. the Finantial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, and the Charities Act 2011. The disclosure requirements of section IA of FRS102 have been applied other than where additional disclosure is required to show a true and fair View. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Goin8 Concern The trustees have considered the impact of the covid19 pandemic on the going corbcern basis for the financial statements. Following the relaxing of covid restrictions after the balance sheet date the exhibition re-opened in June 2021. Whilst the restrictions have now been removed there is still some uncertainty if there will be further future restrictions due to the pandemic. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from the date of authorising these financial statement5 including a reduced income scenario, and consider the charity will still have sufficient access to cash resources to operate in that period. The trustees therefore have a reasonable expectation that the charity can continue in operation for the next 12 months and it is approprrate to prepare the financial statements on a going concern basis. Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been desienated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL sfATEMENTS YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES Pension tosts The company operates a defined contribution scheme for the benefit of its employees. The costs of contributions are written off against profits in the year they are payable. Income recognition All incoming re50urces are included in the Statement of Financial Activities ISOFAI when the charity is legally entitled to the income after any performance con(litions have been met, the amount can be measured reliably and it is probable that the income will be received Expense recognition All expenditure is accounted for on an accruals basis and ha5 been classifi'ed under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or tonstructive obligation to make payments to third partie5, It Is probable that the settlement will be required and the amount of the obligation can be measured reliably. Grants received Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Fixed assets Tangible fixed assets are stated at cost lor deemed costl or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating a5 intended. Depreciation is provided on all tangible fixed assets. at rates calculated to write off the cost, les5 estimated residual value, of each asset on a 5YStematic basis over its expected useful life as follows-. Fixtures and Fittings 25% reducing balance Exhibition equipment 25% reducing balance Land and Buildings are not depreciated Cash and cash equivalents Cash and cash equivalents are basic financial assets and inculde cash in hand, dewsits held at tall with banks, other short-term liquid investment5 With original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. -io-
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES Provisions Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. Debtors and creditors receivable / payable within one year Debtois and creditors Wlth no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. St¢xk Stocks are stated at the lower of cost and estimated selling price le55 Costs to complete and sell. VOLUNTARY INCOME Unrestritted Funds Restricted Funds Total Funds Total Funds 2021 2020 DONATIONS AND OTHER INCOME Membership subscriptions Donations Entrance Fees Gift Aid 360 1,613 557 360 1,613 SS7 1,032 1,603 21,848 2,687 2,530 2.$30 27,170 INVESTMENT INCOME Unrestricted Funds Re5tricied Funds Total Funds 2021 Total Funds 2020 8ank interest receivable li 17 75 li-
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021 CHARITABLE AcfiviTIES Unrestrirted Funds Restrirted Funds Total Funds 2021 Total Funds 2020 Gross Salarie5 and Pension Payroll and Traning Repair5, renewals and waste Meeting expense5 Travel & subsistence Telephone and Internet Postage. Printing and Stationery Subscriptions Water and Rates Insurance Bank and Credit card charges Building and refurbishment Professional fees .' Building Professional and consultancy Computer software Sundry Depreciation 25,174 458 5.406 25.174 458 5.911 15 386 1.392 36,111 1,406 8,635 332 3,004 1,569 1,509 699 383 2,346 303 259 500 7.736 2.082 1,339 44.676 505 15 386 1.392 597 549 549 179 91 2.214 295 2.305 366 3.120 71 3.120 1.410 2.086 164 1.410 2.086 200 34,572 36 1,652 32,920 2.933 75.801 78.734 112.889 GOVERNANCE COSTS Unrestricted Funds Restr*cted Funds Total Funds 2021 Total Funds 2020 Independent Examination Fee 1.620 1.620 1,200 1.620 1,620 1.200 12-
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021 NET OUTGOING RESOURCES FOR THE YEAR This is stated after charging- 2021 2020 Depreciation 34,572 44,676 STAFF COSTS AND EMOLUMENTS Total staff costs were as follows: 2021 2020 Wages and Salaries costs Social Security Pension costs 24.308 35,259 866 852 Total 25.174 36,111 Particulars of employees". The average monthly nurnber of employees and full time equivalent IFTEI during the year was as follows-. 2021 Numbew 2021 2020 Number 2020 FTE No employee received remuneration of more than £60.000 during the year12020- Nil) During the year the Charity made pension contributions totalling £86612020- £8521 The number of directors for whom retirernent benefits are accruing under defined contribution schemes amounted to Nil12020.. Nil) 13-
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL sfATEMENTS YEAR ENDED 31 MARCH 2021 TANGIBLE FIXED ASSETS Land & Buildings Fixtures & Fittings Exhlbltion Total COST At l April 2020 Additions 21,069 16.lJ90 312,438 3,973 349,597 3,973 At 31 March 2021 21.069 16.090 316.411 353.570 DEPRECIATION At l April 2020 Charge for the year 8.892 1.800 185.323 32.772 194,215 34,572 At 31 March 2021 10,692 218,095 228.787 NET BOOK VALUE At 31 March 2021 21,069 5,398 98,316 124,783 At 31 March 2020 21,069 7.198 127.114 155.381 DEBTORS 2021 2020 Trade Debtors Prepayments 11.626 2,061 49,278 4.338 13,687 53,616 10. CREDITORS: Amounts falling due within one year 2021 2020 Trade Creditors Accruals and deferred income PAYE 3,401 1.930 318 9,315 1,931 475 5,649 11,721 14-
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021 11. DEFERRED INCOME Under l Year Over l Year Total At l April 2020 Addition5 during the year Released during the year 6C At 31 March 2021 600 Income has been deferred as income has been receNed in advance of dèltvering the services required by thai conditbon, or is subject to unmet conditions. 12. RESTRicfEO INCOME FUNDS 8alance at Incoming rescource5 Outgoing resources Between Funds Transfer Balance at 01 Apr 2020 31 Mar 2021 NHLF Grant FuThd 145.166 45,471 23,320 li 160,5751 107.911 45.482 Historic En8land Granr Fund Heriiage Emergency Fund SHARE Support Grant 27.4C*J 2.807 127.4(KJl 12.8071 190.637 53.538 190.7821 153.393 NHLF Grants are for the operation of the site lincluding plannin& promoting and holding events) for 3 years ending Octobei 2020. Due to the pandemic this 15 now extended to Ottober 2021 The Historic England grants are part of the match fundin8 required by NHLF as pèrt of the original project Brant for the conservation of the Transmitter Block. The Heritage Emergenty Fund ènd SHARE Support Grani were awarded in respect ofthe work required to open under the government mandated-covid" restriction5 13. UNRESTrICTED INCOME FUNDS Balance at 01 Apr 2020 Incoming re5cources Outgoing Transfer resources 8etweEn Funds Balance at 31Mai2021 General Funds 73.377 4.799 13.7441 74,432 The General reseNes represent the free funds of the chafity which are not designated for particular purposes. 15-
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021 14. ANALYSIS OF NET A55ETS BETWEEN FUNDS NHLF Grant Fund Historic England Grant Fund Unrestricted General Fund Total Fund balan¢es at 31 Mar¢h 2021 are represented bv- Tan8ib1e fixed assets Net Current Assets/Liabilities 120.296 112,3851 4.487 69,945 124.783 103.042 45,482 Toial Funds 107.911 45,482 74.432 227.825 16. INDEPENOENTEXAMINERS REMUNERATION The independent examiners remuneration amounts to an independent examination fee of £1,2C 12020-. £1.2001. 17. TRUSTEES EXPENSES Ouring the year expenses totalling £366 were paid to four trustees12020.. £8121. Ouring the year no remuneration was paid to the trustees. 18. RELATED PARTY TRANSACTIONS The remuneration of key management personnel is as follows = 2021 2020 AggreEate compensation There are no related party transactions during the year12020.. Nil) -16-