REfjISIERED COMPANyNUM8EL"￿7488ZS {Engiarnl andW31esl REGISTERED ￿AR￿NuMBER. 1126TA5 REpoKfoFTHETRUSIEESAND FJNANCIALSTATEMENfs FOR THEYE4R ENDED31 DECEMBER 2023 FOR AIABORNEASSAULTIIMJTED Bright 8rown knmited Chartered AccDUllt3nts ststutory AuditDr Exchang? Hous* St. Cross Lane Plewport I￿e of Wight P030 SBZ AIR8ORNEA55AULTUMITED coKrENTS OFTHE RNANCIAL5TATEMENTS FOR YHEYEAR ENOED 31 OECEMBER 2023 Reportof theTiiist*& I to 11 Reportottht tndeptndertAudirtsrs 12 tg 15 $￿t￿ent0f F5n8ncialA¢tÈvrbes 16 alan(e5heet 17 to 18 Notestothe Fin8ni81 stst￿￿ftts 19 to 33 DÈt•ll￿ Ststomeirt of Flnantial Actwities 34 to 35 R8ORNEA55AULTLIMITÉD REPORTOFYNETRU5TEES FOR YEAR ENDED 31 DECEMBER 2023 The trustees who are also directors of the chèrity for the purposes of the coM￿nIeS Att 2006, present their report Mth the financi81 stèietThents of the charity fDr the year ended 31 December 2023. The trustees have 8dopted the prowsions tsf Attounting and Reportin8 by (haritie* Ststement of Rectymme￿ded Practice appr￿ble to charitles preparing thelr accounts in aCCDrdance with the Financial Reporting Stsndaré 2pplKable in th2 UK and Republi¢ of Irdand IFRS IOZI leffe￿ive1JanUary20l9l. OWEcfivES ANOAcnwnES Objtctivesand awn$ The thaT%ttys pUrp￿eS are setout Inthe obje¢t5 contsined in thE rornwny's Articles of Asswiotion-. The educatlon of the publi¢ aftd servke petsonnd aboLrt the history, deed4 t￿d￿orts, and the role of The Para£hErte Regiment and Airbom¢ FDrces. The prornotion of military effitsency by assisting recrultment and retsntion and fostering the esprit de corps of The Pwachute Regimentand Atrborne Forces. The commemoration and rem¢mbrnnce of those mernbeis of The P#achute Rewment and AiiborrE FO￿5 have died while on active setvl¢e- #nd the encourag¢ment of public re¢ognirtr)n of the sacrifice by such persons. AALcompr￿￿10Uf distlnrtdem2ntk' The ￿rburne A55auIt Mltseum Collectlon Is an independent Museum located in the Alr Space Hangar at xford. It ss the Dfficial regimentsl museurn of The Parnchure Regiment. The museurn uses innoval￿e intÈYpretations in its gbject-rich collertion. To integrate wth its online archive fLxed l￿d klosk ierminals are a[50 installed and avadabl2vr4 va5itor¥ mobile devi￿5. ParaDats is Ihe Parachute Re￿Ment'S and Airbcyne Forces, offioal online multi-m¢tha di8ital 3rch¢ve operat¢d, rnaintsined and developed by AAL. It is an encyclopaedla of official 8nd accurdtety re5e4rrhed information ?bout The Parachute Regiment and Airbome Forw. Its aim is To provlde an ea51ty 3cce5sible 3nd complete introductory historyof British Airborne Farce5forthe 5erving501dterand the public, ATh aTthive containing the wortd's gre3tert tollettion of informath?n ¢n British Airborne Forces which Ls ctrlo¢•ted with the museum collectX*D ènd is open to r*Jtarrhers and othef Inter£rted members ol the public by prfor appointsnent. A reserye collection of h￿Ita￿e as*ts that are held and rnanaged in a seture controlled environmènt with objects iegularfy rotated through the rnuseutn di5playp rnade available for outwch Iti￿ or ioan£d to other acuedlted museurns in the IJKand abr¢xd. EnsuringtheTrustee'sWork DEliver5 QurAims The board of truste¢s reviews our aims, objertives and in a forward plan. ￿art looks in detaTI 8t the coming year and to a maxlmum Df S future year& In particufar. at eath meetin#, the trustees covsider how attl￿tIeS will contributett¥theaims and Objecti￿ thathave beertsetaod to rnaxinNse publi¢benefiL PublirBEnefrt A4L's arti￿rIeS fo¢u$ on en￿gIng With gener31 public to edvcate them in the htsttsy Df Brit15h 3irbDme wartsre. the chorarter of an airbome soldier from fomation to the present day. and cornmemoT3ting only the sacrifice ol those who have Serv￿ bui 8150 the achievements of The Parachute ReglmÈfit and Aivborne Forces. To do this AAL has a m¢xfem, Eaptlb%t￿g galkry of objects and history combined w£th 8 free-tituse onlthe diwtsl archlve. musÈum and websiie akn prtsvidÈ a crucial presence in the communtty covering the heritsge link between serving sotthiers. veterans. thelr farnilles and thegeAerdl publiG Page I AIR8QRNEA55AULT UMrrED REPORTOFThETRVSTEE5 FOR THEYEAR ENDED gl DE(fMBER 2023 Who used and benefitedfrom AALS AAL welcomed 94.554 wsltors to its Museum at Duxford. The maiority of v(sltors wÈre the gÈneral public, foltowed by veterans and seNirFg 501diers along wkh thèir families. We were delighted to h05t 740 people on sep3r3te school parties. vthran assotsations. and serving mil¢(ary unli s tsn pre-bDoked group wisits. In addition. we reached 21SO people at outreach events. These actniities allow the team to inter8EL 4nd pruvide a bespoke Service from leLture5 to handlt sw10r￿ and h￿P us achieve our ¢h#rit?ble objectives. The admissions poll£y to the museum albws for free entry for servlTh8 16 Air Assault Brigade Combat TÈam116 AA8cfi units and or8anised re8imentsl assoclations abng wlth a 2-for-I offerforveteran$ and theirfarn11i￿ wsiting not in gfoups. The mwum'5 digital archive. ParaData Iw*Vw.Pa￿Data.or4.Uk), provided ektensfve free-to-vlew contenr contln¥oL¥Iy moderatsd and added to by which be ￿ceSSed worlth¥ide. In 2023 P3raD3ta had 890,922 Visito￿ with 1,280,597 p?ge WEW5. Thi5 was a downturn the prÈviou5 yeat, but *xpe¢ted in > non.èwbome anniversary year. ParaDats provides an uThoqualEed ollline airborne archival resource available for all to vlew. It provide5 3 uniryue resour fDr re5earEhers, veterans, h￿torIanS mifitaria enthusièsts and fJrnily rnembers lo view the complete hi%tory DI Airborne Fortrs and thosethat have served. and continueto serve. ACHIEIIEMENT AND PERFORMANCE Charltsble3dkVittes Achievements For2021 A4L has continued to invest In the wsitor eYperiem￿, ￿thin the gallery* and anline throu4h ParaDats and So￿31 media and an extensive outrÈ3ch program. In ￿￿Ett￿n, increasing co-oper3tion with the 5WM 8nd other Regimental Museums thmu8h the AAi-instt8atsd Mrbome Mu5¢ums NerworK in both Ihe UK and abroad, alk)w$ for engagernent With •$ w(de an avdience as p05siNe. D-Day Tr4il.. The museum team liaised extensive￿ vrith the IWM Public Eneagemert and Leamtng Team to help formulate Day Trail at Dudord, to be launthed in 2024, the 801h annIVer￿ry of Operation Ckndord. The team proposed using the story o* Sgt Sydney ComÈll of the 7th Parachute Battalion, a bl8d( soldier in that ut)it of the first men on th Bround O-Day. Sourang orlginal photos aAd detsils of history. this was iFEcorpoTrted into the trail and link5 the IWM and A4L displaystogeii*rand demonstratesthE CDoperalrDII and synergy l￿￿e￿n th2 2 Ijrgan￿ati￿￿s. Suspended Objects Dismtyjntoig: The exterior of the AAL has had several 'Heavy Dr￿. objects displayed via suspension wire5 since 2008. ￿￿￿$s1or￿ with the IWM over their fuwre develtspment of Al￿Pa￿t led us tg dEEide ￿ di5rn0Unt the objetts. Working with a lotsl enbneering contractor, and the IWM. the objects were 211 suctrssfully dismounted on time 3Thd to CtsL The refreshed display otwartsme Jeeps. mDtorcycles artillery ple￿5 will now form a more accessible And arnic display tor the 8Qth-annNtr￿ry events in 2024. Port that date, and in line with the plans, the dismounting allow5foreasier acce55forr edisplay and movern*ni of objecisand theme L5nks to Swving Units and VeteTaTh Grtyjps: Asthe museum of 8irborne forces we a￿ protjd of our close links ro the units of 16AABcf ar￿ were pltased tD hort 3 Normandy Study day for units, with fectures. subjert matter expwts and a h?ndling ￿$stOn. In addition. the Bri￿des comma￿ Team held a fnrnm at Du>lord. hosted by AIL and Pre￿ed by lecture, by the Curator, on the fom7*￿?￿ and eth05 of airbome forces. We WeTe a150 thrilled to welgotne the bo•td of The rachute Regimenial A$5cdation at Duxford. a￿1n demonstratW8 the close links to both the 5erv¢ng and tommunity whieh we so v21uÈ 2nd is at the ccre of our operation% Reciprocally wt PF(widpd 5UPPOrt for the Re8imental F8milies Dty at Colthester with a heritage di5pky. Pw2 AIRBORNEASSALXT UMJTED REPDRTOFTHEIRUSTEES FOR THEYE4R ENDED310ECEMB8R2025 Edutatton al￿ Ouireath: The team had o year supportyng events at several locations but we were particulady keen to refresh Yetations with the PoI￿h community in the UK bysupporting 2 key events to cornmernor*e the Pdith Airbome Force5 and thEir descendant￿ The fir5¢ Scotland. saw a carefully curated bespoke display be5ng provided for the large Polish commLtnity there. and a furth¢r gne in knncolrL%hire atthe origTrnal s(¥ht of the Polish units billets, and as p3rt of the nveiling of 8 refurbish￿ memorial. The connecbon5 made with Pobsh dipbm8tic Staff. senior Pdi%h officers and the rbome Fo￿$ Museum in Krakow ha5 led tofurtherdisc￿10n onfutwe loo￿5￿ coopeFativeworknng and staff vostts. Adrfit1on￿ pop-up dTsplays were also provSded to suppprt IWM at Duxford on ￿ent and air slM)w days4 including STEM athwties basd on trajectories of fire utilising a repr0dL￿tIOn mortar and foam bombs. with svpportin8 VJ4rtime tr4ininK films playing it) a13rge screen trained staff on hand as £¥plainers. Medi•". A4L prnwided c2refulbrf curated contert for RHa PARA. 16 MBCT and the wlder M¢*)1 Amiy to bè utilFsed on ¥arfous social rn￿ra platforms to engage wlth a variety of users and all Ilnked batk to the museum ar￿ ParaData. We were very pleased io assist wth the research into hoThours awards and f¢1 a reglmentally prtsd￿ed book on Afghanlstan. WE also 1551Sted 4 welkkrth4n authur5 With rese¥ch for books actiJ* as subject matter experts and helpinE to focus on facts and the historical narrdtive, whllst ensuringthe reputstion ofThe Porachute Regimentand mcfe wKlety, Mc)OArmv. ParaDak: For ParaDaia. accessti tlty and se¥th functionalFty continued to oll¢w for dt8thsed ¢cnt£nt to be sourced used by media CLNnpanies worlthwide 2nd for f2mily h￿rIanS to research rela1n￿s. In distUS510n Wth the ￿ supplier. Access. the Qjntent M3nagemÈrJt System. DrupaL was refined tr> allow easier updating of records by the museum tÈam. To exploit thss Irttre￿ed fvncttonalty. in Q2 2024. 2 sTrduate vulunteer5 were tBined in the hO￿e sty￿ of ParaQatH and began tts addres5 areas requlrlng de￿ICI)Ment FowsiTrg intbally an key personaliti￿ 3NJ opetstions. they tyeated enhanc￿ content to be publ￿hed. A5 a re￿tt OVEr 2.454 changes wefe made with additional Imagèry. docurnents and profile$ 3dded to the &te. Thls was a 30% increase Dn the praviou5 year. In addition. Goo@e Anawts was hard coded into the sEt2. withthe museum team undertakng useracceptance testyngt<>en5ure ¢twès worknngcorrectb/. Canfjnvtng Develepmeotof AAL Reset¥e C[￿1ertknn.. A5 the holders of the rnost tornplEte wllecbon of Brit￿h ayborne-relaled artetstts Sn the the m2n8Eem@nt of the collection is central to our proCe￿e$. To thi5 er￿, in QI 2023. with èsststsnie froffl ts Air ￿sault Logistic5 Rtglment RLC and the Missiorn Ready Training Centre. the entire rÈsÈrvE collertion was relocated frDm Merwlle Barracks Cokhe5ter to B8￿r*bOurn Bèrratks. This was a major undert*in¥i Wlth the project iTrduding the full participation of the board vki Ihe Collectlons trustee, along the n￿se￿n team ¥d volunteers and wntractor& A5 a resLdt of the movè we have invetted in new bespoke weapons racks, shelvinL boxes and pathng matèrfals to ettsu￿ the £ollection is tt*%ntained tothe higheststandards possible. The move allowed for easier acc￿ for the ffjuseum teèm 35 they ufidertoke • collecti￿￿ review of the reserve cdlertion over the next 18 months. A new colleci(ons proce55 h?s tse￿ approved and this wll inform the b03rd on flrture tollertions strale8y and ratIonalp￿tleN. ACqui￿tIn￿￿ The collection received 32 separth don4trons DI object4 notably including 2 whips used by female guard5 at Bergen Betsen ¢oThrentTrtion camps afid tsken off thtrm by an airborne artillery offi￿r. Careful consideratin will be wven io how best to pre5eThe the objects and how to contextualizeany potential &15play. RewJkitory Comprian￿. We continue to comply wth all regulatary requirements forvarious aspects of the ¢ollettion from Free From ExJAosives IFFE). R8diatioD and health and safety. Those part5 of the ctslle£tioTr are manaEed to the highest standard to ensure we safèguard both visitors 8nd the museum team of staff and voluntee￿. In late 2023 we began proc￿ to redvce holdings of both FFE and Radioactpie material and are liaising with relevant to engJr¢ the project is manaEed correctly and effiQen￿Y. Complyance is reported to the boaTd at quarterly meetings and forms part of the Governance Calend£ r. Pa￿3 AIRWIVIÉASSAULTUMfTED REPORTOFTHETRusfEES FOR THEYEAR ENDeD 31 DEtEMBER20Z3 Li35son wÈth Other MuseuTh5: In 2023 we rÈestabllshed the A￿bOrne Museutn5 Network after a hlÈtus duÈ to COWD. Under the guidance of a trustee. tontxt was made with every regimentti Museum In the UK wth an arborne fink hi their h6Story. Wth support from The National Army Museum and The Army Museum Ogilby TrusL the Nthork ha5 Stag2d several Zoom meetings to discuss coDperative working. ￿05￿prOMOtion and pr?plann¢ng for anrkwer5arl￿. Six musetsms have accepted an invf(ation to attend the D-oay A1￿hOW at Duxfprd ID June 2024. and we look forward to welcomin8 them hope it will be the fI￿t evert of many. The museum alsL¥ attended the tspentns of "Fled to Fpdht" a néw exhibitim at the Harten5tein Myseum In Holland. The tean wisted with ihe research of m)reTi31 for the dlsplay. and asstsirated bool 3nd also lo aned several objects forth*thsplav. PoraData The NIu5eum's d￿lt31 archive PafaDJts Iwvrn.par3dats.or£.ukl contFnued t¢ act as a ￿1)traI, authentic resource for the wider 21rbL￿e community. The museum tÈam contlnued ￿ provide CUMEd content for sooal medi8 feed5 4Cf955 the rnvseu￿ and in addf(ion. tODk gver posting h￿OriCal content Dn beh&lF of RHQ PARA. Al content was linked b8ck tts ParaData. A stead¥ irtome was obtsined from commercial actNities- n3mely paid enqwries. imagery sates and the unique di4ts1 FriendsScheme. The pry)jert lo audlt the dlgitsl 3rchlve w identify any a￿8$ re¢uiriTrg development arLd b35ed on the surveying of visttor5 and management informalion on vi5thr activity to the site indudirbg sections visited, PaEe views and dwell times continued. This has allowed for the developm•)t of an in-depth audit spreadsheet which can be Hrttssed bythe tearn Sn thè office, but aLso byvolurbteers remotely. This sutveycontinue5 and helps shapethe fiJture5trateEyfor ParaData. Fundraisin8 acti￿￿e$ We were 2gaiTr delighted to a551st wth a number of publlcaEions on a fé&paying ￿515. supplyTng not onty authoritstive historical advte. but also extensive re￿rC￿ ènd 50Ltrcin8 and digitisine marty previously unseen imaw for use in both book In 2ddthn, our Museum Amb855ador. Mr B￿￿ Crompton. ktrklly don*ed a van lor the museum t8am to use. h3S proved inv2luèble in lttendifftg events, and fortr3r￿port1neobjetts seojrety and safely. We are happy to report that we held discu55ions with our partrTrer. the IWM, for support to th￿r events program for 2024. induding provirfine addstsonal displays for the 2024 D-Dty Airshow. AAL wi51 again coordinate a display of Lmng Historyi serving soldlers and the Red Demls Free f351 tearn along wlth attiwtie5 for tsmllie5. In addTtlon, we will provide display4 lectur￿ and joThrt activTbes forthe 2 WEeks of the Amhem anniversary In Sept 2024. For both events. i fee will be payable to AAL At all events, the mv5eum team has had retsil Stock 3vailable. W￿th 4 range of products and prices to meet W5itoTS' needs Teddy Bears proved the best-sellinE itsm, but the cost of living trÈsis has seen a drop in retsil sales. Consthration WI￿ be verbty thE adm￿lStration of stock againstthe benefft5 of retail ￿leS moving forwdl For 2023, our (figltal arthlve. Parathtrd, continued to offer a Steady incNrte stream from paid ertquiries, donation¥ and imagery sales as well 85 med¢a/publishing companies ar￿ incillne from th2 di&tal Frlends premium membership stheme, whlch erfitles those who join to enh8n￿d ac￿$$ ta the diBit41 arthive. including every issue of the reglmental JOUrr￿1. Pegasu5. from 1946 10 2tY)8, in a searchèble format. The mernber5hip Scheme con¥nues to grow steédily. All the ¢OmTne¥aal actThlty Dn PanData is managed vmthin a finèntr module linked t¢ PayPal ané provides a ￿t￿PIe illterfr for rEP(Xtlngincorne, whh miThirDal adMin￿rat￿e overh￿d$ forthe museum team. I fund5 genera*d are design8ted for f￿Ur+ development prDjw15 to o)Thtinue the ongoing work of the Museum and its dlgital archkve. Page 4 AIRBORNEASSAULT LIMITED REPORTOFTHETRUSTEES FOR THEYEAR ENDED31 DECEMBER 2023 FINANCWILREVIEW Ftnarti•l Management TO operate Its busine55 effectniely. AAL produ￿ rnanasement pLinDinE and InfOrn￿￿Ur￿ and applitstion of resources. induding the irKome and e)q)enditur£. of the charitabje company lor that peN)d. lft prepaiinK those finanoal 5taternents. the trustees are ￿1￿[￿ed to selectsuitabfeaccounrin8polioe53nd then apth them corffjistentty- obserwe the metlK>dsand princlptes in the ChaThtySORP,. mèkeiudgemenrsand e5tirnatesthatare re*onable aThl pruden¢. prepare the financial statements on the going concern basts unless inapproprthe to pre5urne that the chaitable companywlll continue in busines& The tr￿tee5 are responsible for keeping proper actountSn8 re¢iKds whith (f15close with re35or*ble accuracy at any tlme the fin3nEial p￿￿On of the charitable company 3nd to enable them to ensure that thÈ financial statements tDmpW the Companie5 Art 2CYJ& They are 81sts re5pon5ible for s￿eBu0rd1ng the assets of the tharftable company and hence for tsking rea50nablÈ stepsforthe prevention detection offraud and other irregUlar￿e$. In so fara5the trustees are aware= there relewdnt8udit intormation of which the tharitable company's authrtors 8re unaware- arx the trustee5 hav2 tsken all steps that they ought to h￿e tsken to make themselves al￿re of any relevant a￿j Information and toesrabllshthattheaudltor5 arèaw8￿of th8tinforrn£tion. Approved by orderof thè boardof trusiees on..._ ._ ._...................-.....-. and signed on its behalf by- Briga e MBE- Trusteè PaEe 11 REPORTOF THE INDEPENDENT AUD￿oRsT07NE MEMBERSOF AIRBORNEASSAULT LIMITED Oplnion We have aLtdited the tinancial &tÈtements of Aithrne As￿V￿ Llmked Ithe 'charitsble cornpany'l for the year ended 31 Decernber 2D23 which comprtse the Statement of Financial Acti￿*$. the Balance Sheet and nDtts tn the fiThaKial st*menig including a summary of si8nifirdnt accounting poliGies. The finan￿31 reporting framework th8t has been 8ppli&d In their preparatioD ￿ applicable law and United AccountiTrE Standards Iunitél Kiwm Generally Acceptsd Accounting p￿ctiCe1. irt¢lu&ing ¥inan£Èal Rep)rbn8 Stsndard 102'The Financial RepDrting Standard applicawe in the UKand Republicof Ire13nd'. In our¢)plnion the linancialstatements: glve a trufr and fair vieej of the state of the charftsble com￿rry'S affairs as at 31 Oeeernber 2023 and of its incom4n8 resources and application of resource¥ induding its income and expenditLtrÈ. fortheyearihen ended.. have been pmpeAy prepared in accordance with United ￿nEdOM GerTreral￿ Accepted AroyntlnE Prdetic< induding Finanaal Fleportingstandard 102'The Financial Reporttng Standard applic3bte in the UK and Republic ot Ireland,: and have been prepared sn acccrdan¢e wth the tsquirements otthecompanies PLt2CM)6. B35isloropinion We conducted our audit in aCCOTd2nce with Intemational Standards on Aud￿n¥ IUKI IISAS (UK)) and appll¢able law. Qur re5ponslbif￿eS under thosÈ standards are further desthbed the Auditors, responsitslittes for the audil of the financlal statemenis sethon of our report. We are Indep￿dent of the charitsble comp8ry in actord8no wtth the ethi￿( uirernents that are relevant to our 3udit of the financi31 statements in the UK, incl￿¢1￿￿ the FRC'5 Ethical Standard. and we have fulfilled our other ethiE41 reSph)nsi￿litieS in a¢cordan¢e wth these reQ￿IreMent& We believe that the audit evidencewe have obtsined ts suFfi¢iEntand appropriate to PTwdeo ba5l5fcrour￿1nI0n. Condusion5 relatiilg togoingconcern In auditing the fJnan¢ial #atementy we have concluded th•t the tnESté&' usè of the going corKem basis of ar￿UntIng in the preyration of thefin8niial staternent5 15 appropriate. Based on the work we h2ve performed. we have not identified ony rTrateri31 unryttrinties relating to evenis or ¢ondititins that, individualfy or collectivety. may Cast signfficant dwbt OTh the charitable company's ability to continue as 3 goir ￿n￿r￿ for a period Df at le85t￿efve monthsfromwh&n thefinan¢i•lst3tements ère authorised forissue. Our reswnsitiilities the responslbiitties ef the trustee5 with respect ts going c¢Ncern are described in the relevant sections of rep otheAityFortnatrDn The trustee5 are rtsponsible for the other infortnation. The other information Cornpr￿e5 the tnformation induded in the Annual Report, otherthan the financrdl statements 3nd our Rerrt)rt of the IndÈpendentAuditUfsthereon. Our O￿nIOn on the linanual statements d¢)es not cover the other infomJatlon ènd, Èxcept to the Èxtent otherwisé gxpficitly statsd (nour￿￿r[ we do not express atryfortn of a55urarto conclusion thereon. lfi eonnectson with our audtt Df the financtal ststemenis. our re5tK>n5ibI￿fy 15 ta read the other iThformation anfl. In doing 50, consider whether the other iThformètion is materially incon$15tent wr(h the financial st*ements or our knowledge obtsined In the audit or otherwise appears tc* be materially mi5Stated. If we iéentify suth material incoThststenciÈs appa￿￿t rnatErial rni5ststements. we arè required tr* de*milne whethar this Br￿$ rise to a mat¢rk*l mi55t3ternpnt in the finaT¥ckl statetnents thems?￿e5. ff, ￿Sed or¢ the work we havè perfonned. we c(>ndude that thero Is a materlal mi55taternert Df this other information, we are required to reportthHtfacL We have fiothingto repDrt inthis regard. page REPORT OFTHEINDEPENDENT AUDITORSTO THE MEMBERS OF AIRBORNE A￿AULTL1MlTEts opinio￿ on gthermatters prèxribed bythe CoMpanie5Art2006 In our opiftion, based Dn the work ttndertakeTh in the course of the au&tt- the inforniation g￿eTh in the R&port of the Trustees for the ftnancièl year for whlch the ftnanti4 $tatemÈnts are prepared is cgnsistentwith the financial ststements.. and the Rewrtof the TrLtsteesh35 been prepared in accprd3D￿with applKablelegal requirement5. Matter50n whachwtare rewiredts reportbye¥reption In the light of the knowledge ind understanding of the tharitsble company and its envrronment obtained in the coutse of the we have not identified matErlEI mismtements inthe Report of the Trustees. We have rwJthir¥ to report In respert of the follo￿ng matters where the CompanÈes Att 20C￿ Tequires us to report to you If, in ouropijion: adequatÈ accounting re¢ord5 have not been kept or fetum5 adequate for our audit have not been received from branches ntrtvisited by us: or the finanoal ststernepts are not in agrÈementwith theaccountitV4 record5 and returns.. or rt?in dlsclosure5 01 trustee5' remuner8tion specified by laware not made,. or we have not re￿Ned all the (tsformat￿n and explanationswe requrefor ourevd¢' or the truste￿ were not entitled ta take advantage of the small coM￿nieS exemption frcm the ￿qUIreMert tts prepare Strategic Repctrt or in preparingthe Reportof th&Trustee& Res￿)rLs￿bIlities of trnstees As ewained mrxe fully in the StHtement of Trustees, Respon5bi i14the5, the trustees Iwho arÈ Alstt the dsre¢tors of the charitable company for the purposes of company lawl are r25POTb5ible fty the preparatign of the fi￿n(la1 statements ènd for being satisfied that they we a true and frair view. and for suth intemal mntrol as the trustee5 detsrmine ￿ n￿sSary tts ¢n2ble the prepaTrtion of fin4noal statementsthèt arefree from rnater1￿ misstatement. whetheTduetofraud orerror. In preparing financial statements, the trustee5 are reSp￿Sible for ?yse$*ng the charitable companrfs ability to contimje as a going £oncern, dI￿1￿51ng1 as ￿p￿ICable, m#ltets related ts going concern and using the going contern b￿[5 of accounting unless the trustee% either intend to liquid8te the thaiitalAe CDmpany or to £ezse oPe￿tIOns. or havè no ali5bcattern3tive but to doso. Page 13 REPORTOFTHE INDEPENDEKfAVDITORSTOTHE MEMBERSOF AIRBORNEA55AUIT UMITED CMrrresp)nsibilities fotth?auditofthe financial ¥tstements Our obie¢Uves are to obtsin iea5onable assurantr gbout whether the financial ttètèments as 8 whole are free from mater5al mis&tat¢ment, whether due tts fraud or error, 8nd to 3 R2port of the Indepeftdent Audr(ors that indude5 our opinion. Reastsnab￿ a55ur8nce is a hi8h level of &ssurarKi but Is not a guarantee that an audr( condurted in a¢¢ord¥nce wlth tSAs IUKI wi51 alw3ys derett a Materrdl mlssrdternetit when it exists. Mi%t*m¢nts ¢èT) aiFse from frdud or error anr£ are cO￿dered material if. indTridually or in the aggregate, thry could reasonably be expected ts influence the economic dw%ortsof users tsken the ba￿S ofthE5efinarTh3lstatement> Irregu￿ritieS. ]r￿lUdIng frnud, are instsntrs of non%ompliance with lows and reEulatiO￿ We design proceduTes in line with OUF re5ponsikn"litles. Outlrned above, todetettmatÈrial rntsststemerts in respeaof irregukrfities, I￿ludingfrav￿. As part irf planning our audit we rletermined materi81ity and ass￿Sed the risks of matefial rrisst3tement in the financtsl sr3tement* eased on our understanding of the tharitible COM￿n¥ we identtffÉd the principal risks to the Charitable company as mana8eEnent overrid2 of Cotffro￿ and potential Ipr In respect ￿ revenue recDgnitK)n. partkubrly In re5Pertof cash income Audkn wocedures ￿rfOrMed bythe￿8ageme￿ttearn induded.. A rev(ew ef journals made In yeparin8 thEfmal result5 for preparatton of thE aLrounts. and ¥ rwiew Lif accountinE estimates made byfnana8ement. Review to ensyre there are fto tran￿￿10￿S that havÈ no apparert bu5i0es5 or charrtable purpose. or that have been processed outstde the usual 3CCDUlltingsy5tems. Exlension of the sample 5iz¥ for audEt testing carried out in relatiC￿ to cash in¢ome. and coftsideration and tssting of controls in place around this income. Disc￿s1on$ with maftagement, ir￿UdIng con&derdtion of any kr50wn or 5￿Pe*￿ed instsnces of non<0mpli￿re with laws and re8ulatiDThS or fraud. There are inherent limitations in the audfc wOCedu￿ d￿Cribed above, and the furthèr removed non-compliance with la￿ and r¢gulatiorts is from events and rÈfiottéd in the financial statements, the less likely wp arg tts bètomè awaie of IL The r￿k of not detecting a material m*sstatemÈnt due to fraud is highw than the r￿k of not dÈtectinE one r25ultingfrDrn e￿)r, asfraud rnay involve deliberate contsalment or intent(onal misrepresÈntat6ons. A further descrlptioTh ot our ￿SpOnsibl11t1es for the audit of the financ4al ststernents 15 lo&ted on the FiRanaal RepDrttng Counol's webyte at wWW.fr&o￿ukla￿dltorSre$ponSlb]IJtles. Thts descrlption foms part of our Report of the Independent Audiior& P3ge 14 REPORTOFTFte INDEPENDÉNT AUDITORSTOTHE MEMBERS OF AIRBORNEA55AULTUMITED Use ofour report Thig report is madt sdely to the charitable c(Knpany's Membet5, a5 4 body. in 8CcOrdan￿ wlth Chapter 3 of Part 16 of the Companie5 Act 21yJ5. our audit work has been undertaken so ihat we might State to the chèrttable cc*np8ny's members tho* matters we are reqvired to state to them Tn an auditors. report 8Ad f¢1 rK) Other purpose. To thÈ fullest extent permtttsd by law, we do not a¢¢£pt or assume responsibility to anyone other than tIE charitsble company and the tharitable companV5 membersas a bDdy.forour audlt WgrLforthi5 report or fcrtheoplnlons we havefomied. ISeThorStatutoryAuditorl frjrand an behalf of Bright &rown Limlted Charrered Atmuntsnts stat￿oryA￿drtor Exchange House SL CED55 Lane Newpert Isl¢ g(w￿ht PO3058Z Date-... Page 15 AIRBORNE ASSAULT UMITED STATEMENTOFANANCIALAcnvfflES IINCOPPORATINGAN INCOME AND EXPENDITURÉACCOVNTI FOSETHEYEAR ENDED 31 DECEMBER 2023 2023 Totsl nds 2022 Total funds Unrestricted funds Re5tricied funds PRAFMT INCOME ANDENtWMENfs ¥ROM Dtinations and legacies 108,416 23.942 132,358 133.945 Charitable Hrtwitres Research and archtve ViSTts U58 1558 2,608 Otherwddin43CtNities Inveslrnent Inrome 635 l362 635 1.362 1.339 478 Totsl IllJ71 23342 135,913 137.370 EXPEND￿RE ON la￿￿ngfundS 107 107 92 Charitabte activiti Museum runTMnR 132,588 28.305 199,957 183,412 Totdl 132,695 200,064 183,504 NÉT ENCOMEIIEXPENDITURE) 120.7241 14,3631 139.0641 164,ts11 146.1341 RECONCILIATtON OF FUNDS fotalfunds broughtforward 159.173 4L481 709.750 910,404 9S6,538 TOTAL FUNLIS¢JRWEO FORWARD 138,449 37,118 670.686 845.253 910A04 The notesfrjryn partof these financk41 statements Page 16 AIRBORNEA55AVLT UMITED BALANCESHE¥T 31 DECEMBER2023 2023 2Q22 Total nds Unrestricted fortds Restricted funds Total funrk PWMT Wote5 FIXEDASSFf5 IntsDgible assets Tangible 455ets Investments 28,610 3.572 28.610 644,791 41.414 684,197 641219 14 32,183 541,219 673,402 725.612 CURRÉNY ASSErs Stodts Debtor5 Cash at bank3nd ITh hand 15 1,458 129.263 96,384 L,458 129,263 162.970 1,565 182,698 176,821 37,118 29.468 227.105 37.118 29,468 293,691 361.084 CREDITORS Arnourts fallirq due wfthin ono year 17 1612601 1612601 1602801 NETCURRENFA5SEf5 164.845 37,118 29,468 23L431 300%04 TOTALASSETS LESS OJRRENT UABILlnES 197.028 37.118 670.687 904,833 S,026A16 CREDITORS Amounts fr6lling due after more than one year 18 (s8￿80> 1585801 1116.0121 N￿ASSETs 13&448 37.118 670,687 846253 910.404 FIJNDS Unrestricted thJn&s Restrithd fund5 IS9.173 751,231 707AOS TOTAL FUNDS 816253 910,404 Th¢ n4Trtesfomi part olthesefinancial statements Page 17 eontlnued... AIR8ORNEASSAULT LIMITED gALANCESHEEf-fontiThupd 31 DECEMBER 2023 These finan£ral statements have been prep#red in acc(*dants With the provision5 8pplicablÈ to £harit3ble tornpanies sub*cittsthÈsm811 companie5 regime. The financial statemerlts wero approved by the Board of Trvstee5 and 3Uthorised for issue on arld weresigntd on its behalf bv.. Lowe MBE-Trvstee The notes form partofthesefinancial ststements Page 18 AIR8ORNEAS5ALILT UMITED NOTESTO ThE FINANCIALsfAIEMEMf5 FOR THEYEAR ENDED31 DECEM8ER 2023 GENEFiALINFORMATrON Airbome Assau￿ Umlted i% a rhaittable compafty litnited by guardntee ané tncorpor3ted in EnglaThd. The financial Ststsm2nts are preseThtsd In Sterling, whlch is the functienal currEncy of the th3ritable cornpaDy. There ?re Tro terial uncenainties about the charity5 abl1 tty tD continue. ￿rbOrne Assau￿ ￿rn￿ed ￿t￿tItuteS a public benefft erttity 35 defined by FR5 102. ACCOUNTING POUCIES Basi5 of preparifieihe ffnancial statemer The fin3na31 ststements of the £hartrdb￿ company, whlth Is a pubbc benefit entity under FRS 101 have beèn prepared In accord3ncE with the (tharities 50RP IFRS 1021 'Accounting and Reporting by Ch4rilie5.' Ststernefit of RecoTnmended Practi￿ applicable ttp charities preFring iheir accounts in actordance with ihe Repcrting Standard applicab12 ill the UK and Republi¢ of IrEland IFRS 1021 leffective l January 20191., Fina￿la1 Reporting 5tandèrd 102 Yhe Financial Reporbng 5*3Ad8rd 8ppltcable in the UK 4nd Republic of Irel3Trd' and the Cornpanies Act 2(Q6. The financial ststements have been prepared under the historical cost convention. wth the o¢ception of i5we51ments which are included atmarketvalue. Income All income is rewBnised iry the Ststement of Financtal Adiwtses ¢nce the charity has entitl*m*nt ts the funds, it i% probabfethatthe incomÈ v411 be tsceived andthe amount tsn be measured tetlabtv. Expenfllwre abilttie5 are recognised as ÈxpÈndtLure as 500n a5 there is a legal OT constructive obliidtKffj cornmittin8 the thority to that expenditure. it is probable that a tnnsfer of economic benefits will be required irt sÈttlÈffient and the amount (rf the Obli￿tIon can be measured relhibly. Ex￿ndItiJre i5 accounted for on an accruals b8s15 and has been dassrfied under headings that a88regate 311 cost related to the cate80ry. Where costs cènnot be directly atiwibuted to particular h&8dings they have been allo¢zted to activth5 On 3 IK5iS CDnsistent with the ￿$2 of rEsouf¢E5. Alloca￿￿￿ and apporttofiment of costs The allocation of expendtiurÈ within thE chaTit¢s finonual Statements isthat bar diw¢t costs of raising funds whl¢h aTe the costs of purthasin8 Stock Itom4 211 other costs are fvll allocèted the to the activw 'Museum Runnln8- includinE 100% of 5UPPOrtC05ts. Intsnglblefttedossets IM8n￿ble assets relate to the Computer so￿are of PARAdats and the trustee5 have reviewed the oypected life of the 50ftware 2nd a55essed thatthetostsshould bewritten off overark 8ye¥r perfod tsn a straiÉht line basi& PARAdata ￿ part of the museum and is an Income gener3ting asset which 15 tspable of being 5epaRte identifiable Bnd Mo￿bIe. Tan£iblefixed assèts l ass¢ts Epsting ¥noo than £5LY) aTe caWaI￿rI and induded in the fi￿n￿81 ststerrÉnts at bi#orfic cost le55 ac£umulated deprecladon. Oepreuation is providèd on fixed assets at ntes calculated to write off the c￿t Of valuation less estirnated rÈsidu•l valu< of eath assetoverits expetted usefijl life asfollows.. Page 19 continued... AIRaORfvEASSAULT UMITED NOTE5TOTHE RNANCFALSTATEMENTS- coniinued FOR TrIEYEARENDED31 DECEMBER 2023 ACCOUIrnNG POUQES- contitwed Tan4ibIefiX￿ assèts leasehold Museum property. exhltsts &frtting5 Equipment overthe length of the lease lo % reducing balance & IO% stratght line 25 % straight line Stotb valued ètthe lower of ¢95t and net reali5able value. after m8knnE due allowance for ob501ete aThJ slow moving tsms. Fwbds Unre5tr(tted funds comprise those fvnd5 whlch the tnjsrees are free to use in accordance ￿1th the charjty's obsects. Heritage *set5 The Parath￿e Regimwt and Abrborne F¢￿E5 Museum Tr￿l holds a large number of obiÉttS in t1￿￿￿tI￿On wth the historyof Airborne and ¢ortsist50f the Museum'stollections both and Dff d￿plaY. They induik rned41s, unlfoTms. equlpmenL vehicles, an ext￿￿Ve arthive of do¢¥ments and imagery and other artefacts. The Dbjetts aF2 considered heritsge a55ets wder the Statement tsf Recommended P￿C￿Ce terms ¥ th re tangible assets of h￿￿1r cr artistic importante- £on5equendy, value 15 pla￿d on either the a55et or the danation tor accounung purp05e5. The rnanagement policy in respert of herftsP assÈts1s sumrnartsed in the nrte bel¢)w. Bassof ronx*fidation and presentation of aCco￿ts The rèsults of ￿3rborne Assault Tr3ding Limited have rtot b*en tQAs¢lidai•d wthin lh* a¢¢ounts as these are immaterial, indlwdualty andcdlectively, tothe grou In order to prtiMdÈ t￿￿ Df understa￿¥ng the attounts of Airbome knujt brnited and the PaTrchute Regirnent and AiTborne FOr￿S Museum Trust are disclosed Separats￿ in the Statement of Flnanclal Athvities. balÈ*te sheot and note5 tti the accounts. The balances due b¢twe¢n the two componÈnt Chariti￿ are di5cbsed sep3r*ty on the face of the b31ance Sheet in current assets and curtert li•biliti8s Tespe£tive￿, bur have beeTh eliminatsd fr￿7 the cwsolidated b3lance sheetof the united entity. rborne Assault Linited is a subxdiary of The Parnchute Rewment and ￿rbOrne Forces ICRN 07005997 1 Chartty numbEr I￿19771, re￿￿eTed in Englènd and Wales. The consolid*ed ?ctounts of the 8riiup Can be foynd on Companies House. tyonated servtos t￿nated $eNi¢es and faalities reP￿sents costs borne by thé Min&try of Dèfènte IA Con￿¢￿0￿ wtth staff see￿ded ts the Museum withDUtchHrge. r3tes and other offitr expense Page 20 continued._ A1RBoRNÉ￿uLTlIMITEO NOTESTOThE FINANCIAL ￿ATEmENTS- ¢ontTnu*d FOR THEYEAR ENDED 31 DE￿BER 2023 DONATIONSANO LEGAaES 2023 2022 Total Unrestrirted Restrlcted Totsl Donations- Parèd#tr OonÈtH)ns Grants Donated Servi￿8nd fa¢ilrf*ie$ 3,620 3,620 3.484 84￿08 40,346 3,187 L6.355 75.181 38.222 .966 40.346 23,942 108,416 23,942 132358 1945 Included wkhln doNated *Nices and faThlities 2023 2022 Staff costs 40y6 38.222 Grams are recteved from the Parachute Regiment 2nd Airbome Force5 Charity for the purposes of normal Tunning 5t5 tn line with the ann￿1 budget and is unrestricted in nature. Restricted inwme is from AMOT Iogilby Tnjstl forthepurposes ofstaff cos gonated Servi￿ and faciuties represents costs borne bythe ￿an￿try of Defence in connettion staff to the MLLS&Urn withtxtcharge, rates and other¥fficE expenses. OThER TRADIN6Acfiv￿IEs 2023 2022 Shop income PARAd* photo sales 145 179 1,160 635 1339 Page 21 Conti￿￿ed... AIRBORNEASSAULfuMITED NOTrSTOTHE FINANCWLsfATEMENTS-rvnttThued FOR THEYEARENDED 310ECEM8ER 2023 INVESTMENT INQIME 2023 2022 Dep051t account Iirtèrest 1.362 478 Support costs Isee note 71 Dirert CosES T¢Jtsls Museum running 193,152 6AOS 199,957 Museum ¥vnnifig 2Q23 2022 Wag Property Aérntnistration Maintenan Depreuation Supportcosts 86,567 7,773 15.179 28,974 S4.659 6,805 80,952 6.558 13.8Q6 20522 54.020 7554 Totsl museum running costs 199.957 183.412 SUPPORT COSTS G¢vern•nc¢ costs Museum rttnninE 6,805 NET INCOME/IEXPENDITURO Net inwmellexpenfllturel is stated afterchar8in811crediting)'. 2023 2022 Aud510rs' remuneration Depreciation-owned assets CompLrter50fthre amortisativn 3,340 41,213 41,856 12,804 22 cortinued... AIRBORNEASSAULTuM￿ED NOTESTOTHE FINANCIALsfATEMENT5-tontinued FOR YHEYEAR ENDED31 DECEMBER 2023 TRUSTEES. REMVNERATION AND BENEFITS There were no trsJste@s' remvneration or other banefits for the yeaF ended 31 Oecember 2023 nor for the yeHT ended 31 De￿rnber 2022. Tru5teÈ¢ ex￿r￿e$ 2023 2022 Trusts￿, expenses S82 814 3 truste& wère paid expenses fortravel and subgstente tO*ttend trustee mewngs. Jtx sfAFFCOSTS 2023 2022 Wèges atyd sa￿rieS SocKal sÈoJritycosts Otherpension costs 81.926 1451 76,783 2292 lJ76 86,567 80.951 The ayernge Month￿rtUrnber ofemployees du*n8theyearwasas follows: 2023 2022 ttp*ratk)n No employee5 received erndwnents in exce550f £60,WO. ThÈ vrdges and salarles figwe includes dofiated servlcè5 01£37,89612022.. £38.2221 for mèmbers of stsff employ bythe Ministry of Cefwce based onthe ratesof pay ID plao dufingthe peTrol. The curator is con5klered key management personr￿1. 8ItFK)ugh the pwt is predorninan¥y funded by thÈ MOD. Thetotsl ernployee benEfft5forihis NFStwere £41288. Page 23 toninued... AIR80RNE ASSAULT LIMITED NOTES TOThE FINANCFALSfATEMF14TS-¢ontinued FOR THE YEAR ENDEO 31 DecEMBEft 2Q23 ii. COMPARATIVES FOR THEsfATEMENTQF FINA￿LALA¢￿v￿lES Unrestricted funds Restricted f￿)dS Total funds PRAFhAT INCOMEAND ENDOWMENTS FROM Donationsand legades 110.640 21305 132.945 Charltableattlvitle5 Research and archweM5its 2.508 Othertrading a￿v￿leS Invthment income L339 478 478 TLtsI 115.065 22.805 137370 EXPENDiTURE ON Ral*ngfunds 92 92 Charitableacbvit Museum runnsng 112,131 32,217 39JJ64 183,412 Yotsl 112.223 32.217 3S.064 183.504 NETINCOMEIIEXPENDETURE) 2,842 19,9121 139.0641 146,1341 R£CONCIUAmON OF FUNDS Total funds brought forward 156,332 51J93 748.813 956538 TQTALFUNDS CARWED FORWARD 159.174 41,481 709.749 930.404 P8ge 24 onti*ued... AIR8ORNEA55AULT UMITED NDTesTOTME FINANCIAL5tATEMENTS-¢ontinued FOR THEYEARENDED31 DEceMBER2023 INfANGI&LE FIXEDA￿ETs Computer 50ftware At l Jznuary 2023 and 31 D2￿mber 2023 533,417 AMORTL8AnON At l January 2Q23 èrgeforyear 492.003 IIB At31 CEcember2023 BOOK VALUE At 31 DecetnbEr 2023 28.610 At 31 D*￿rnber2022 4L414 TANGISLEFIXEDASSEf5 F￿lre5 3nd frttings Pl•nt¥nd rn*chinèry leasehokl vehicles T¢tsL% At l January2023 Additiors L250,025 1,522.471 18,587 2.79L083 2.450 2,450 At 31 Oecember 2023 1.250,025 1,522,471 18,587 2A50 1793,533 DEPREOATION At ljanuary 2023 char8ef￿year 569.743 39,064 1,52L439 516 15,704 1,663 106*86 41.856 613 At31 December 2023 608.807 1,5219SS 17.3KI 613 2,14&742 NEf BOOKVALUE At31 December 2023 641,218 516 1,220 l837 644,791 At31 Oecember2022 680,282 1,032 2A83 684,197 Hwif48t A¥s•ts The Parathute Regiment end ￿thrne Forces Muselttn Trust holds a laree number Df objects In connectlDn Wth the hhtsry of Alrbome Forces and Co￿lsts ofthe Mus¢um'scollecttons hgth on and off ￿Splay. They indude medals, unrforrns. equiprnen¢ véhides, gn Èxtensive arch￿￿ of documents and ima8ery and other artefacts. Page 25 centinued._ AIRWRNE ASSAULT LIMITED N¢)TESTOTHE FINANCIALSfATEMENTS-contlnued FOR THÉ YEAR ENDED 31 DECEMBERZOZ3 TANGJBIE FIXED h55ET5- rgntiTwed The objects are ronsidtred heritsge a552ts undEr the Statement of Recommended Practre tern￿ as they are tsThgib￿ 3ssets of histori¢ or artistic impcrtènce,. cortsequentty, nD value ￿ placed on either the CFr the donation for4xountin8 Purp￿e5. There are 4 main elements to the toltettion: the rfisplay ITh Ouxford, the physkal arCh￿e at Dwrford. the di8it41 arthive ParaData. and the re5efft ￿lIe￿￿on held separately at Ba59ingbourn. The public are able to acws the museum irs Duxtsrd thè 51te is open dur¥rE the weEk, the archfve by appointment and VIEW hraoata online. Herita8e a4sÈts frorn the reserve collection can be retrieved ty museum staff for prearranged viewing at ￿l￿f0rd. The ¢hirity doe5 not acuvely s2Ek new items for the museum but does regylady iecefve itetrLS. both donated and on Itsan. frorn both spmng members of the Parachtjte Reeiment and those who have previously 5er¥ed in ￿TbOrne Forces or their families. The d)arity Util*S￿ di8itsl 3Thd phY￿TrI recordirÉ ead) asset and ha5 aTh approved Collect￿n5 Pglicy ar￿ Plan Éo ThE Collecbons Tr￿t SPECTRUM 5.1 guidebTr￿. Any di5posalg from the ¢olFert(¢n, ntluoing the sale of indiwdual objeLts, are approved by thÈ tntstÈes folli)wing The Coll¢ctiDns Trust SPECTRUM S.1 guidelines and the rnu5eums' dIsp￿al policy. The trusts&% reserve the r￿￿t to Sell an indNidual object but only after carefttl co#sideration of its provenants. condition and rdevante. and On￿ after careful considernuon 2#d extrnsive efftjrts to retUTn to the Original dory)r or relocated to other In5tttutims. The entfR collection would never be affered for sale. As the majority of artefa¢rs were accrued in the ￿5￿$ and 19605, UPDn the Initial eSta￿l$hMent of the original museum in Ajdershot. and theywould never be SLld and forthis reason the valueis not includ& in the aCco￿r￿. For insuranrè purposes. thÈ trustees have undertaken a waluaknon of the collection whKh Indicated a potential value of £3,245,370. However. as the charity would be Unab￿ to dispose of the collection by selllng the Items thk Is considered only to be relevant to allowing the £harity to rebuikt the collettton IF destrtyed and in mary cases would not beabteto replacethe r(ems asthey are unique. Asa summary, the total value of obie¢ts retswed into the￿irec￿0￿ Inthe past5 years tsvalued at £14.648. Year 1022 2021 2020 2019 Nootiternsdonated C05t cf aGoui51tion Vahje of donation 256 74 57 6n2S 76 575 Page 26 continued... AIRBORNEASSAULTUMITEO NOTESTOTHE FINANQALSTATEMEN75-cottdnued FOR TKEYEARENDED31 DECEMBEk2023 14. FIXED ASs￿lNvESTmENT5 Unlthd investments mARK￿VAlUE At ljanuary 2023 artd 310ecem&er 2023 8OOKVALUE At310ecember2023 A131 Oe¢emb8r 2022 Therewere no investment assets outsidethe UK. ThÈtompany's imRstrneftts at the ￿lance sheet date in theshlre ¢opital of ¢ompaNes ifidudeth¢followirt8: rborne AssaultTradinE Lim Registered officè". MÈtville BaThack5. Ciralar Road Soth C¢lthestèr, C02 7UT N*ure of bu&nes> Trnding Company aassof shatè.. Or&inary holding Ir 3L12.Z3 31.12.22 Aggregate capital and reserves 13571 13571 STOCK5 2023 2022 Stock5 1,458 1565 16. DEBTORS.. AMOUMTS FALUNG DUE WThIN ONE YEAR 2023 2022 Trade debtors AmouThts owed bygroup underta￿D8$ Otherdebtor5 VAT PrepaymEnts 35 1,1 2289 724 5.102 176,336 1,678 4.566 129.263 182.698 Included In amounts duè to grovp undertakings is £5858012022.. £1160121 whith falk duè after rn0￿ than one year. Page 27 continue&.. RBORNEASSAULTLIMfFEO NOTE5 TOTHE FINANaALSTAYEMEKfs. 123,4051 23.942 167,3681 143,4261 TOTAL FUNDS 135,913 1200,0641 I64.￿1} Page 29 rontinued.- AIRBORNEASSAULTLIMlfED NOTESTOTHE FINANaALsfATeMeNTS-contlnued FOR ThE YEAR ENDED 31 t￿￿MeER 2023 MOVÉMEKfiN FUNDS-¢ontlnued Comparative5for movemenrl*fvNJs Net rnt￿ement in fvnds TransFeis be￿een fuTr At 1.1.22 31.1122 Unrestrirtedfunds fjEneral fijnd ParaDatè Phase11 Other desi8natsd fvnds GHI Developmentfund 34.999 91.873 10,185 2.015 17.260 15.64S 112.8041 lll,1441 58,5(K) 79.059 10.185 2.015 29.404 11144 156332 2,841 159.173 Re511irtedfvnds Parachute RegiFnent and Alrborno Forces MuseumTrust ParaDak Phase15 Colertion Redisplay Fund 748,813 51.083 310 139.0631 19,9121 709,750 41,171 310 800.206 1489751 751,231 TOTAL FUNDS 9$6￿38 146,1341 0.404 Cornparatwe net movement In funds. included in the abovearE a5follow5: Incorning resources Resources expended Movement infunds LlntOStritted funds General fund Pèr808ts Ph3se 11 Otherdes￿nated funds 113.SS9 197,9141 112.8051 11sosi ,64S 112.8041 L505 115,065 1112P41 2A41 Re5trittedfvnd5 Parathut2 Reg¥nentandAirborne For Museum Trust ParaDats PhÈsÈ11 OwlbvTrust grant 139.C631 19.9121 1223051 139,0631 19.9121 21305 22305 rJi28DI 148,9751 TOTAL FUNDS 137,370 1183,5041 146.1341 PJ£e30 ontinU￿.. Alk8OANE ASSAULTLIMifED NOTESTOThE FINANaALSTATEMENTS-£ontinued FOR THE YEAR ENDED al DÉtsMBER 2023 MOVEMENTIN FIJNDS-ttJntirtued Acur¥entye3r 12 months and PriOTyRar 12 rncrrth5cornbined posrtion is 3s*ollow5.' Net movement in fvnd5 rransfets bth8en At 31.12.23 At i.1.2Z Unr&tricted funds General fund ParèData Phase11 otherd￿E￿a1ed fvntts GHI Developmenifvnd 17.635 125,6091 IU1441 40,490 66.264 10.170 2,015 19,509 9L873 io. 2,015 17.260 12J44 156,332 117A841 138.448 Aestrittedf￿rfs P3rathute Regiment and AirborrE For MuseumTrust Pa￿Data Phase11 Collection Redi5PtayFund OwlbyTru518rart 178,1261 114,8121 670.687 .2n 310 537 5I083 310 537 8CKI,206 1914011 TOTALFUNDS 956,538 1110,28SI 846,253 Page 31 ntinued... AIRBORNEA55AULTUMITED NOTESTO ThE F1NANaAL￿ATEMENT5.C0thfirt￿ed FOR TrEYEAR ENDED31 DECEMBER Z023 MOVEMENTIN FUNDS-continued A current year 12 months and prior year IZ rngnths comblned net Movement in fijnds irKluded rn the above are s follow5- IncomiThg re50urce5 Mov*mEnt in fvnds expended Unrestrictè*fvDds Genertl fund ParaData Phase11 Other deggnated fuftds Oevelopmentftjnd 225,530 1207.89SI 12S.6101 115201 1939SI 17.635 125,61Y)I 1151 19.8951 227,036 1244,9201 117.8841 Re5trirtèdfunds Parathute Regirnentand AirboFne F¥rtes Mu5eumTrLtst ParaDats Phase11 Og&1bYTn￿gra￿t 178.1261 114A121 145.7101 178,1261 114,8121 537 46,247 4Q247 I138￿43) 192,4011 TOTALFUNOS 273.2g3 I883￿58) I1￿.285) Funds UnrestrKted funds The charivs unrestricted funds compTlSe= al Generèl fund which the trustee5 are tree to use In accordanL* with the th3rty¥ objtcts, 2nd forrr6 the charity's e￿e$. bl ￿￿ated fund5: - PardDats Ph2sÈ11- FundsdÈsign*ed bytheTntstees and donors forth¢ redevelcpfflent Of ￿raData andthÈ aneoing rnainten3n￿. . Od)er rJesignated-A Thumberof 5rnallTrustee de51Rnated fundsforsmall or one￿ff protects. - Oisplay. fund$￿e￿g￿atedfQrIhe upkeep 3TKI FTr3intenaTr￿ of the Museu￿ display& - Developmentfufid- Fundsset aside foTthefirture developn3entof thetharty Restrktedfvnd5 The prifttipal restritted fund indudad in the accou￿ts ￿lateS to the assets and liabllitRs of The Parachute Re￿ment and AiTborne F￿￿tr$ Myseum Tru5f. which are ClaS￿f￿d a5 a restricted fund under the unitlng dlrecdon ès detalled in 2L The charity held three other r2Stricted fvnd5 as follows.. - PardDatt Phase11-TheTru5teesgener8ted fundingspttificallyforthe r¢4¥¥elopmentand ongoin8 Mainte￿rKe Of PataDara Phase11. Paze 32 continued... AIRWRNEASSAULTLIMITED NOTESTOTHEFINANaALSfATEMErit5- continued FOR THE YEAR ENDED31 DECEM8ER21723 MOVEMENTIN FUNDS-continued - Collectlon Redisplay- A genetOU5 donor provided the charitywith ? Biftre5trtiedforthe wrpose of collection redisplay. - 08TlbyTrustGrant-An annual Brant provided bythe Am)y Museums 0811 byTrusL which ￿ used to part-fund one ofthe Museum staff'5 PQ5iti0n. ULMMATE PARENTCOMPANY The Ultimate parent of the charitable company 1$ The Parachute Rewment and Ayrbome For￿ charity ICRN 07005997 1 Chaitty nuTnber 11319771 whith ￿ the 501e CO￿0[3t& member. The pareThVs principal purpwÈs a promoting the eifioency of the Parachute ReBiment and ￿rbOrne Force5. SUPPOrtin8 Past present members of the Parachute RegSment and Alrfoorne For￿ and promoting and mairtsinillg the hÈrltage of the Parachuts Regiment3nd￿tsrb0rne Forces. Copie5 of account5 are awdilable from Companies House. RELATED PARTY OLSCLOSURES Duringthe pertud, the tharit¥blt compaThy has undertaken tr0￿c￿onsWlrh.. Par8thute Rwment and Airbome Forces Charity. The charitable rompany received funding 01 £55,223 12022.. £51,370) ftsr the Thorm31 runThlng costs of the rnLLseum under 3 three yeaT funding agreement. At the year end, £116,01212022: £171.2351 was due from Pirathute ReWm2nt and Airborne F￿r￿ Charty in rdatic%n to fundirbg agreed for 2024 and 202S. Aep Retsll Ltm¢ted-. The charrtsble comp6ry has sold goods for the value of £NlI 12022= £3811. At the year end. £NII 12022.. ÉNlll owed toABP Retsil Lim*ed. SUB51DIARYUNDB￿AK1NSS The thaiity ovms 100% of ts issued S￿re Eapital Df Airb¢me Assault Trdding Limited. a company irKorporated in ETh￿and and Wale& The companybezznto trode in 2012 and ceased in 2014. The net assets of the Eornp?ny at 31 OeTrmber 2023 amounted to £13S711202L. £135711. At the year e￿￿, the tradin8 tompanyowed Its parent £5.10112022: £5.1011. Thè ch8r(ty has a further subsidiary, belng, The ParaCh￿e Regiment and Airbome Forces Museurn Irust which 15 Ilnked by 3 uniting direcknon under s96 of the Charities Act 20D6 and the results of the linked tharity have been ggregated with the reportlng tharity following L)est wacticÉ as laid down ln the 5tstement of ReCO￿rner￿1￿d Pra¢t1ce"Account￿gAnd Reporknng By Charths" ISORP 20191 Issu￿1 In October2019. Page ¥3 AIABORNEA55AULTIIMITED D￿AlLED ￿ATEMENT0F ANANCIALAcfwiTIES FOR TH£ YEAR ENOED 31 DECEM8ER 2023 2023 2022 INCOME AND ENDOWME14TS Donationsajtd le8aues Do￿tiOns- PARAdata Donations Grants Donated servKesand fa¢ilities 3,520 3.484 84.908 40.346 3,187 16,354 75,181 38,223 I32.￿8 132,945 Othertr*in8 athili85 Shop income PARAdats photo sales 145 179 1.160 635 L339 Investment income Dep￿lt acffjunt interest 1.362 478 charita￿eaCh*rtles Research and ardiive wsTts 1,5S8 2.608 Totsl incomtng rwurces 135.913 137,370 EXPENDITURE Oll￿rtrading￿￿￿1tse$ MÈrthandtse purthas 107 92 Charitable Ktivities 8L926 2,451 2,190 956 6,817 76,783 2,292 IA76 701 5,857 Sodalsecurfty Pen*ons Rates andwater Insurance Telephone Postage and stationery Advertysi Sundrie5 arried f¢Nvard 531 456 665 328 216 91158 98,972 Thts page does notfomi partofthe statutoryfffiano31 ststements A]RBOIINEASSAULTLIMJTED tIFfAILED sfATEMENTOF FINANCIALACTivifiES FOR THEYEARENDED 31 DECEMBER 2023 2023 2022 CharTri able ath)fftiÈs 8rou8htfoTr￿rd Maintenanee of musewn and displays a¢alling Travel Stsff andvDlunteer expens Memberghip subscriptions Baftk charges Irrewverable VAT VehKle Éxpenses Depreciation 98,972 28.974 32 931 1340 Iso 213 s￿33 2.038 54.659 91158 20.522 2￿99 220 5.811 54.020 193,152 17S,858 sup5￿¢0st$ Govefnahce Costs Trustee5' expense5 Auditors, remunÈrdtion TrusteÈ's insurance Professional fees 582 3,2(X) 2,435 588 814 3540 2,085 315 6.80S 7,554 Totsl Trsources expÈrAed 200.06 183304 Netexpeno 164.1511 146.1341 This pagedoes notforrn part o*the statutoryfinancial staternents Page 35