COMPANY REGISTRATION NUMBER . 06474550 BAWDSEY RADAR TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CHARITY NUMBER . 1125600
BAWDSEY RADAR TRUST FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 CONTENTS 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) 8alance Sheet Notes to the financial statements 8-16
BAWDSEY RADAR TRUST TRUSTEES AND PROFESSIONAL ADVISERS Reglstered charlty name Bawdsey Radar Trust Charlty number 1125600 Company reglstratlon number 06474550 Principal Address & Re85stered Offlce The Transmitter Block Bawdsev Woodbridge Suffolk IP12 3BA Directors Keith Julian Willett5 - resigned 28/06/2023 Sue Margaret Michell Peter Abery Diane Clouting resigned 1610712024 Rachel Jean Boon - resigned 1410312024 Tom Lewis Cox- resigned 3010112024 Clare Sulllvan lain Dunnett- resigned 2210512024 Peter Graham Murchie Kevin John Sulllvan - resSgned 2011112024 Peter Wain- appointed 24/10/2023 Alan Austin - appointed 0511212024 Vanessa Austln - appointed 05/12/2024 Paul Whitin8 - appointed 18101/2025 Independent Examlner Beatons Limited Chartered Accountants 7 Three Rlvers Business Park Felixstowe Road Foxhall Ipswich IPIO OBF
BAWDSEY RADAR TRUST TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2024 Objectlves of the Charity The Charity is a Company limited by guarantee and has no share capital and was incoTporated on the 16 January 2008. The Charity was established under a Memorandum of Association arbd is governed under its Articles of Association. The aim is to conserve the Transmitter Block at Bawdsey, maintain 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 and thereafter. The Trustees confirm that they have paid due re8ard to the Charity Commission's guidance on public benefit and have strived to ensure that the Charity's activities reflect this. Appointment of Trustees Trustee5 are recruited through adverts in relevant local publications and recruitment websites15uch as NCVO, AIM etc). The charity acknowledEes the benefits of diversity and Is seeking greater diversity through the recruitment process. A recruitment panel of selected trustees and an independent person holds final interviews. In September 2023 Graham Murchie was appointed as Chair of the Trustees for a period of twelve months. For various reasons the following stood down as Trustees during the period under review- Graham Randall, Keith Willetts, Rachel Boon and Tom Cox. Peter Waln was appolnted as a Trustee in October 2023. Georgy Jamleson has supported BRT over a period of years whilst part of the B8C Radio Suffolk team. Since leaving that role, we are delighted that she has agreed to become a Patron and has proactively supported us in that role. Revlew of Actlvltles and summary of the year The volunteer team has continued to grow and the Trust was delighted to host a Thank You day at Bawdsey Manor (courtesy of PGL the estate ownersl for all volunteers in March 2024. All the trustees warmly acknowledge the positive spirit shown by the volunteers and their continuing commitment to the museum and to the projects and activlties that our visitors so enjoy. In June 2023, BRT exhibited at the Suffolk Show with a stand in the Military Village and attracted a great deal of public interesl. During the year, the Trust continued to operate with pre-booking, timed slots as well as'walk-in5'. The number of visitors was c105e to budget but increased numbers are required to ensure financial viability. Following the success of the Virtual Reality project lead by a team of BT apprentices, a second project has been initiated with a new team of BT apprentices. This will result in a video of inside and outside Bawdsey Manor and incorporates the latest Artificial Intelligence techniques to give animated versions of Robert Watson Watt and Arnold Wilkins explaining some of the work carried out in the Manor in the late 1930s.
BAWDSEY RADAR TRUST TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2024 With £7k funding from the Association of Independent Museums IAIMI and the National Lottery Heritage Fund, plus Innovation funding from the University of Suffolk, the Connections Project has gone live to help trace and record the details of those who were based at the Manor between 1936 and 1991. BRT is collaborating with Liberation Route Europe (www.liberationeurope.coml a network organization that shares a missiorb to preserve and promote the history and heritage of the Second World War with a focu5 on remembrance and education. A successful bid was made for a grant of £200 from Afsm to pay for the production of Spy School booklets to engage with younger children. Shop sales for the year contlnued to plck up but are not yet fully returned to pre Covid levels. New slgnage has been Snstalled at Felixstowe Ferry and Bawdsey Quay and increased signage to the Museum and car park has been incorporated. In early March 2024 the Air Source Heat Pump (ASHP) installed in 2017 failed just a short period before the museum was scheduled to open for the season. A rapid decision was taken to purchase a replacement using reserve funds. This decision enabled the museum to open on time. Flnanclal Revlew At 31 March 2024 the unrestricted funds were £61,898 the restricted funds were £96,411 and funds totalled £158,309. The income of the Trust decreased very slightly year on year and is still running below pre-pandemlc levels. Every effort is being made to generate greater income over the coming years. With increased focus on costs, expenditure was reduced over 2023/24 by more than the reduction in income. The completion of the Heritage Lottery funded project was recognised for having Increased the operational costs for the Trust in a number of areas, staff costs, repairs and maintenance, IT support etc. which was due to be financed by increased income untll the pandemic came along and set the projected income levels back by 2-3 years. This has resulted in the Trust operating at a loss for this year, and probably for the next 1-2years, a5 the income position recovers. This recovery period can be funded out of reserves that have been built up for such a contingency. Reserves Pollcy 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. It turns out the loss of income caused by the pandemic was one of these incidents. The current level of £20k has been reviewed by the Trust and it was agreed that this will remain at this level for the time being although the Trustees acknowledge this money may be required to meet operation expenditure in the short-term,
BAWDSEY RADAR TRUST TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2024 In additlon a reserve fund of £50k has been aslde to meet current and future malntenance on the refurbished bullding and surroundlng infrastructure, but every opportunity will be taken to flnd addltlonal grant support for major works, such as wlndow replacement, to mlnlmlse the draln on thls reserve. Future strately The key rlsks forthe next 2 years are centred around our ablllty to re-build our Income streams after the pandemlc and In light of the financlal situatlon In the LIK. Alon8 wlth other museums and slmilar organlsatlons thefe Is currentty a definrte trend for visitors to restrlct thelr spendln8. The 3-year FoNiard Plan coverin8 the perlod up to 2025 contlnues to underpin the actlvltie5 undertaken and applicatlons for external 8rants and fundin8 w511 be submltted when relevant opportunltles are Identlfied. A serles of events are stheduled throughoijt the year includln8 talks and tours of the site to further explaln the herlta8e. Also the number of talks 8lven externally by Trustees and Volunteers has been sl8nlflcantty increased resultln8 in additlonal Income, follow-up talks and prlvate vlslts to the museum. The Trust Is commltted to bulldlng on the fornial Museum Accredltatlon as a key step In our contlnulng grovrth. The future Is clearly 8oln8 to be very dernandln8 but the Trust continues to draw on Ihe skllls and dedlcatlon ofall of the team. Graham Mur¢hle Chalr Vanessa Austln Treasurer
BAWDSEY RADAR TRUST INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE BAWDSEY RADAR TRUST YEAR ENDED 31 MARCH 2024 I report on the accounts of the company for the year ended 31 March 2024 which are set out on pages 6 to 16. R4)msilMliliesand bastsof rep(wt As the charitytrustees of the company (and also its directors forthe purposes of company law} you are responsible forthe preparation of the accounts in accordan with the requirements of the Companies Act 2CIJ6 I'the 2006AcVI. Having satisfied myself that the accounts of the company are rt required to be audited under Part 16 of the 2CI)6 Art and are eligible for independent examination, I report in respect of my examination of your companrfs accounts as carried out under section 145 of the Charities Art 20111'the 2011 ACVI. In carrying out mv examination I have followed the D1ctionS given by the Charity Commission under section 14515){b} of the 2011 Att. I have completed myexamination. I confirm that no matters have come to my attention in connection with the examination &ving me cause to believe that in any material respect: accounting records were not kept In respect of the company as required by section 386 of the 2CX% Act; or 2. the accounts do not accord with those records, or 3. the accounts do not comply with the accounting requirements of section 396 of the 200SArt other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practi for accounting and reporting bycharities lapplicable to charities pparing their accounts in accordance with the Financial ReportinE Standard applicable in the UK and Republic of Ireland IFRS 1021]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper urKlerstanding of the accounts to be reached. Beatons Limited Chartered Accountants 7 Three Rivers Business Park Felixstowe Road Foxhall, Ipswich IPIO OBF 28 January 2025 J J Oakley F. C. A Ih
BAWDSEY RADAR TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2024 Unrestrlcted Funds Restricted Funds Total Funds 2024 Total Funds 2023 Note INCOMING RESOURCES Incoming resources from generating funds.. Voluntary income Donations and other income Activities for generating funds Merchandise sales Income from charitable activities Giants Investment income 24,786 24,786 26,833 10,606 10,606 8,987 5,971 5,971 1,562 10,584 357 1,562 TOTAL INCOMING RESOURCES 36,954 5,971 42,925 46,761 RESOURCES EXPENDEO Costs of generating funds: Charitable Activities Fund Raising and Advertislng Inc website Merchandise costs 2,585 21)0 2,585 6.300 5,024 5,611 7,455 4,320 6,100 5,024 Charitable activities 39,006 13,946 52,952 69,857 Governance costs 1,182 1.182 I,soo TOTAL RESOURCES EXPENDED 51,312 16,731 68,043 88,743 NET OUTGOING RESOURCES FOR THE THE YEAR I NET EXPENDITURE FOR THE YEAR (14,3581 (10,760) (25,118) 141,982) Transfers between funds (9731 973 RECONCILIATION OF FUNDS Total funds brought forward 77,229 IOS,198 183,427 225,409 TOTAL FUNDS CARRIED FORWARD 61,898 96,411 158,309 183,427 The statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities The notes on pages 8 to 15 form part of these financial statements
8AWDSEY kADAR TRUST BALANCE SHEET YEAR ENDED 31 MARCH 2024 Noto 2024 2023 FIXEO ASSETS Tan8lble assets 72,935 79,881 CURRENT ErS Stock Debtors Cash at bank and In hand 6,536 9.419 72,989 88.944 6,712 2.418 96.599 105,729 CREDITORS: thounts lallln8 du• wlthln one year io (3,570 12,183) NEf CURRENT ASSETS 85,374 103,$46 TOTAL ASSEfs LESS CURRENT UA8IUTIES 158,309 183.427 NET ASSEf5 158,309 183,427 FUNDS Restrlcted Income funds Unrestrlcted Income funds 12 13 96,411 61,898 106,198 77,229 TOTAL FUNDS 158.309 183.427 For the financlal year ended 31 March 2024 the Company was entitled to exemptlon from audlt under section 477 of the Companies Act 21J)6 relatln8 to small companles. Trustees responsibilllies: The members have not requlred the company to obtaln an audlt of Its financlal statements for the year In questlon In accordance wlth sectlon 476; The trustees acknowledges thelr responslbllltles for complyln8 wlth the requlrernents of the Act with respect to ac¢ountin8 records and the preparatlon of financial statements. These financial statements have been prepared in accordance wlth the prov151ons appllcable to companles subject to the small comp3nles' re8ime. anclal statements were approved by the Dlrectors and Management Board on the , and are s18ned on thelr behalf by.. Graham Murchie Chalr Company registration Number. 06474550 Vanessa Austln Treasurer The notes on pa8es 8 to 15 form part of these financlal statements
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES General Snformation and basis of preparatlon The Charity is a Company limited by guarantee and has no share capital. The Charity is incorporated in EnEland and Wales. The address of the registered office is The Transmitter Block, Bawdsey, Woodbridge, Suffolk, IP12 3BA. The company number is 06474550. The nature of the charity's operations and principal activities are to conserve 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 accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the Unlted Kingdom and Republic of Ireland IFRS 102}, and the Charities Act 2011, and UK Generally Accepted Accounting Practice. The flnanclal statements have been prepared to 8lve a 'true and fair, view and have been departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide true and fair view., This departure has invloved following the Accounting and Reportin8 by Charities., Statement of Recommended Practice applicable to charities preparing their accounts In accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland issued in October 2019, rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective frorn l April 2005 which has since been withdrawn. The financial statements are prepared on a going concern basls under the hlstorlcal cost conventlon, modified to include certain iterns at fair value. The financial statements are presented in sterlirlg which is the functional currency of the charity and rounded to the nearest £. The signif icant accounting policies applied in the preparatlon of these flnancial statements are set out below. These policies have been conslstently applied to all years presented unless otherwise stated. Golng Concern The funding model for the charity has changed significantly since the completion of the Lottery project funding and the reduction in visitor numbers following the pandemic, The trustees, staff and volunteers, have been working hard to increase visitor numbers but in reality these are not back to pre-pandemic levels, leaving the Trust drawing on reserves to cover the increased costs. Since the Balance Sheet date the trustees have been working on a Finance Plan to address the shortfall in funds over the coming years and are confident that there are sufficient reserve5 in place to cover any funding issues whilst the plan is given time to take effect. The trustees have therefore considered the level of funds held and the expected level of income and expenditure for the 12 months from the date of authorising these f inancial statements and consider that 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 appropriate 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 designated for other purposes.
BAWDSEY RADAR TRUST NOTES TO THE FINANCIALSTATEMENTS YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES 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, 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. Pension costs The company operates a defined contribution scheme for the benefit of its employee5, The costs of contributions are written off against profits in the year they are payable. Income recognltlon All incoming resources are included in the Statement of Financlal Actlvitles (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it 15 probable that the income will be received Expense recognltlon All expendlture 15 accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligatlon to make payments to third parties, it Is probable that the settlement will be required and the amount of the obligation can be measured reliably, Grants recelved Income from government and other grants are reco8nised 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. Flxed 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 as Intended. Depreciatlon is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Fixtures and Fittings 25% reducing balance or over the length of the warranty Exhibition equipment 25% reducing balance Land and Buildings are not depreciated Cash and cash equlvalents Cash and cash equivalents are basic financial assets and inculde cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Provlslons 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 with•n one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price, Any losses arising from impalrment are recognised in expenditure. Stock Stocks are stated at the lower of cost and estimated selllng prlce less costs to complete and sell. VOLUNTARY INCOME Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 DONATIONS AND OTHER INCOME Membership subscriptions Donations Talks / Hire Entrance Fees Gift Aid 778 954 1.754 19,333 1.967 778 954 1,754 19,333 1,967 728 3,838 738 19,471 2,058 24,786 24,786 26,833 INVESTMENT INCOME Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 Bank interest receivable 1,562 1.562 357 io-
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 CHARITABLE ACTIVITIES Unrestricted Funds Restricted Funds Total Funds Total Funds 2023 2024 Gross Salaries and Pension Payroll and Training Repairs, renewals and waste Meeting expenses Travel & subsistence Telephone and Internet Postage, Printing and Stationery Subscriptions Water and Rates Insurance Bank and Credlt card charges Buildlng and refurbishment Professional and consultancy Computer software Sundry Depreciation Loss on disposal of flxed assets 25,906 490 4,528 34 25,906 490 4,528 34 956 1,114 121 246 45 2,963 209 30,287 458 3,555 86 1,821 659 268 510 122 3,470 185 6,000 163 956 1,114 121 246 45 2.963 209 477 801 195 921 477 801 195 14,867 947 501 19,712 1,113 13,946 39,006 13,946 52,952 69,857 GOVERNANCE COSTS Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 Independent Examination Fee 1,182 1,182 1,500 1,182 1,182 1,500 11-
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 NET OUTGOING RESOURCES FOR THE YEAR This is stated after charging: 2024 2023 Depreciation Loss on disposal of flxed assets 14,867 19,712 1,113 STAFF COSTS AND EMOLUMENTS Total staff costs were as follows: 2024 2023 Wages and Salaries costs Pension costs 24,970 936 29,304 983 Total 25,906 30,287 Particulars of employees: The average monthly number of employees and full time equivalent IFTE) during the year wa5 as follows: 2024 Number 2024 FTE 2023 Number 2023 FfE No employee received remuneration of more than £60,000 durln8 the year12023 - Nill During the year the Charity made pension contributions totalling £936 (2023 - £9831 The number of director5 for whom retirement beneflts are accruing under defined contribution schemes amounted to Nil (2023.. Nil) 12-
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASSETS Land & Buildings Fixtures & Flttlngs Exhlbltlon Total COST At l Aprll 2023 Additions Disposals 21,069 14,858 7,921 314,679 350,606 7,921 164) (641 At 31 March 2024 21,069 22,779 314,615 358,463 DEPRECIATION At l April 2023 Charge for the year Charge on disposals 10,971 1,135 259,754 13,732 {64) 270,725 14,867 (641 At 31 March 2024 12,106 273,422 285,528 NET 800K VALUE At 31 March 2024 21,069 10,673 41,193 72,935 At 31 March 2023 21,069 3,887 54,925 79,881 DEBTORS 2024 2023 Trade Debtors Prepayments 6,444 2,975 2,418 9,419 2,418 10. CREDITORS: Amounts falling due wlthln one year 2024 2023 Trade Creditors Accrua15 and deferred income PAYE 2,316 1,080 174 334 1,472 377 3,570 2,183 13-
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 11. DEFERRED INCOME Under l Year Over l Year Total At l April 2023 Additions during the year Released durin8 the year 32 32 (321 132) At 31 March 2024 Income has been deferred as income ha5 been received in advance of deliverlng the services required by that condition, or is subject to unmet conditions. 12. RESTRicfED INCOME FUNDS Balance at 01 Apr 2023 Incoming rescources Outgoing Transfer Balance at resources Between Funds 31 Mar 2024 NLHF Asset Reserve NLHF Blast Wall Reserve NLHF Management Reserve Connections Project Spy School 76,198 27,000 3,000 (13,9461 62,252 27,000 3,000 4,159 5,771 200 (2,5851 1200) 973 106,198 5,971 116,731) 973 96,411 NLHF Asset Reserve NLHF Blast Wall Reserve NLHF Management Reserve Connections Project Spy School To cover net book value of assets purchased by NHLF Funds To cover future maintenance work on the blast walls To cover future increases in management and maintenance costs To cover future increases in management ancl maintenance costs To pay for th8 production of Spy School booklets to engage with vounger children 14-
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 13. UNRESTRICTED INCOME FUNDS Balance at 01 Apr 2023 Incoming rescources Outgolng resources Transfer Balance at Between Funds 31 Mar 2024 Unrestricted Funds.. General Funds 37,229 36,954 151,3121 11,973) 20,898 Designated funds: Finance Reserve Malntenance Reserve Windows Project 20,000 20,000 20,000 20,000 1,000 1,000 40,000 1,000 41,000 General Funds 77,229 36,954 (51,3121 (9731 61,898 General Funds Designated funds: Finance Reserve Maintenance Reserve Windows Project Free funds of the charlty whlch are not designated for particular To cover unexpected finance costs To cover unexpected maintenance costs To cover the repair costs for window5 at the Museum 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS Restrlcted Fund Vnrestricted General Fund Total Fufid balances at 31 Marth 2024 are represented by . Tanglble fixed assets Net Current AssetslLiabilities 63,284 33.127 9,651 52,247 72,935 85,374 Total Fund5 96,411 61,898 158,309 15. INDEPENDENT EXAMINERS REMUNERATION The Independent examiners remuneration amounts to an independent examlnation fee of £1,182 12023: £1,500). 15.
BAWDSEY RADAR TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 16. TRUSTEES EXPENSES During the year expense5 totalling £Nil were paid to one trustee12023: £171). Durin8 the year no remuneiation was paid to the trustees. 17. RELATED PARTY TRANSACTIONS The remuneration of key management personnel is as follows 2024 2023 Aggregate compensation There are no related party transactions during the year (2023: Nil) 16-