REGisfKRED COJfPAhY hiiifBER: •67•7945 (Etygl&nd •Dd W&Ies)
REGISTERED CHARrrY NUMBER: 11279119
FOR TBI YEAR ENDKD 31 DF£EMBER 2124
AVJATION HERrrAGE FOUNDATJON LIMrrED
LM Griffith8 & CA)Limited
1&2 MerliAs Court
SA61 ISB

VJATION HERrrAGE FOilhrylATION LIMrrED
for the Year Endtd 31 December 21124
RepDrt of the Trusttts
I to 3
In(kpend¢nt B￿￿5•eV8 Re￿rt
Statement ofFhw*tsl A¢tlvttles
BaJ*Dee Sheet
6 to 7
Nvte5 to the Ilnand*l Ststements
&) 13
14

AVIAIION HERITAGE FOUNDATION LIMTfED
REPORT OF THE TRUSTEF
for the YeAr Ended 31 DeCe*￿T 2OZ4
The tr￿eS who arr al￿) ithrcctors of th¢ for the pwK)5¢s of the Compmies Act 2006, Presfflt ther re[￿ with the
fiDan¢ihl stat¢DWDts of the cjwity for the year ended 31 1)ecember 2024. ThE truske5 have *lotrted the provisions of
Acrountijjg and RKportiDg by Charitie5.' Statement of RxoMrn￿ded Pra¢ti¢e wlicabk to ¢barities preparing their a￿ounts
in a¢Gordauc¢ Thith the Finan¢ial Il¢portiDg Slatmlard applicable in the UK attd R2public of Irclathd (FRS 102) (effe¢tivt I
Jattuary2019).
Objectives
The charitys objcctivss are to adThce th¢ educatioll of the public in Jmtts)￿ aviaty)n htstory by thc e5tsblishDJent
niaintenaftce of a mU3¢UDL
The Tru5tEes ¢onfirm tbat they h&ve ￿nIp1]ed with the thty of section 4 of the a￿ltieS Art 2006 kn IMv¢ due regard to
public beJcfft guidance pubIish¢d by the Charity Comrnism This 8uithll￿ bas br￿ rtre￿¢d to reviewi￿ the
Charitys alTr￿ and objectives and in platining fikn activits¢&
The Ch￿ity ain￿ to mBet5 its objeas by ot¢rntillg a ￿￿kIng museum in to restDre. prrserye. thaintaiti alld
di8play bistoric attd classical air¢raft atKI a&s0¢iatEd m¢morabiliato the public alld ty provide a venue for lects￿¢S. Semi
d practi￿1 workslK)ps on avialion history and d¢vclopllenL To do this tbc charity wilj involve students of t¢cknical
college5 2nd aviation en8iDeers for the preservatM)n work and ts) seek ￿TsIanCe of mcJnb¢rs of the pubIi¢ ID g￿￿al and
schools inp8rts¢u]ar.
The charity hès cstabjished a good WOTkitig r¢]ation5hip with the Cl￿1 AVI￿1011 Audwity thc Lisbt Airc4aft As$(Ki￿10n
The public will be participaliDg it) uoique ¢￿1￿ eithcr by wistiiig diro*with thcproiect or haviDg the opkn to
visit the c¢ntre and fyitig displayB.
V0h￿￿er1
'rh¢ charity shops and nws¢um ar¢ manned by voluot¢tts. The Val￿ ofanyvo1u*￿P is tyjt ioch¥kd in the a¢wunts.
Ch*rit8bb Activl¢ies
The ¢harity suce*&4hlly appiia fijr plaDning permiss￿1￿ for a wrt%abin on WIthYb￿ Airfjeld, Havrrfordwest. The
conv¢rsiott wodt begaD in the year to 31st DevAnber 2010 and th6 W¢lsh Spith officially oP¢ll￿ on 27th
May 2011. Th¢ musewn was moved kn Bridge Stre¢t j￿HaVerf0rdWtstIll 2015 it op¢r•t¢5 today.
A shop has be¢D in opention since October 2008. manttd by voluntm ￿ sell Spitfir¢ related t￿e￿￿1]ll well as
donated g(k)ds. A secoLd shop w&8 Aw 2014. The openi￿8 of these shops h&8 raiSEd th¢ profil¢ of the charity
and dotiatiOll5 were received th￿S n)aknng it a focal point for the ch4ritys a¢tsviti¢s. ltt (ktober 2015 Dwly of thc
exhibits of the rnllsrutD have been ll￿Ved to the shop in Hav¢rfordwEst and this become an attractiol) in th
tOMTr to towists and local p¢opl¢, furtlw rniSiDg the proffle of th¢ dwity whilst prOv￿o84￿J0YMe￿ttO the publi¢.

AVIATION RERrrAcE FOUNDAIION LIM￿ED
REPORT OF IHE IRUSTEES
ror the Year Ended 31 Derember 21124
Reseryu p0￿CY
The rr5uIts for the year attd finaTh¢iaI position of the Ghzrity for the puitsd cnding 31 December 2024 are showD in d
att1￿2d fin0￿Cial statCD]eDts. At thc balaoGe sheet datc. thwr w¢r¢ resrn of £52.744 {2023 - U8.186).
The Ghority is reliant upon the Sup￿ of trustees contillu￿ witknut7whKh it W￿ll1d bc UDabk fr> LY)Dtinue in
exiStCn￿.
It is eurr¢ntty the Folicy of the Gharity to maintsin res¢rve8 at a levd vthich equates ts at ie&8t Stx ￿￿￿th5 ex￿dith i
order that th¢ chaTity ¢aD coDÉiDue kn fi]n¢tion if incomB from (lurent ￿llre¢S declxtits. This will enable the clwity to
idetitify otlA¢rsourc¢s of fimdin&
It is still boped to carry out fortllcr restoration on the Spitfir¢ held in the mu4euttL Th¢ Charity has now ¢stsbIished
colle¢tii)n of ovu 7,IK>O books 8t￿ magazi￿$ on rnilitsry history 8ndthese will be idex¢d end forni the b&8is of a r6fer¢nce
library.
It also remains the int￿￿10n to e8t8blish rtN)re slw in the (wty and to cx1w￿ the 5th of rEiated menuthilia via a
website svbich cOntiTu￿ to be devclop¢d.
sTrucruRE. GOVEIINANCE AND hlANAGEMENr
Governlllg documeut
The AVI￿]￿ll Heritage FoundalAon limitrd charity Th incoz￿Yr?knj oll 25th Swkmkr 2￿% under the c￿mpa￿leS A
2006 as a privats cornpally limttal by guarantee (Compary NumbrE 06707945). It was as & djarity on 4th
February 2009 with the Clwity Commission for EDgtaaJd and Waks {(knity Nwnber 1127909). It i5 Eoverne41 by its
m¢morattdum atsj articles an￿(￿d by rttOIL￿1on OD 29 Janwry 2009.
The Trustees welcome ]Th tn￿te¢S or membth5 Twkn G8Q asyiqt with th¢ d￿lopIc£￿t of the New appointe¢8
re￿1ve support and Buidao¢c from th¢Arfdiowtrwste¢&
Rlsk
The Tntstses have c4)nsideted th2 major risks hcing the thjity. lTrry are confidcnt thjt appro￿ risk hatidkng
Regr8t¢r¢d COM￿nY nwrAber
06707945 (England and Wales)
Reystered Cbarity ttmber
1127909
Rwstered offxo
l Hall Parkclose
Pret￿er8￿$t
Haverfordwe
Pembrokeshir¢
SA612QZ
MrR Burge85
Ms L ReyrK)Ids

AVIATION llER￿AGE FOtJNDATION Lll￿￿rrED
REPORTOF THE TRUSTEES
forthe Year Ended 31 Dtceth2O24
Comp4lly Setretary
Jndependent EuDther
L M Griffiths & Co Limited
Cbart¢TedC¢rtified Ac¢(A]nlaDts
1&2 Merbns Court
Haverfordwcst
P¢mbrokcshir¢
SA61 ISB
Approved byorder ofthe board of truste¢s on....... ....
alld sis￿d on its bel4lf ty.
Mr RBurg¢ss-
rnste¢

INDEPENDENT EXAMLYER'S REPORTTO THE IRusfEFS OF
AVIATION HERITAGK FOLThDATIOh' LLMTfED
tndep¢]Mfrnt exiJDThePi report ts th¢ trn¥teeJ of Aviatioa Herit*Ee FouDdatlon Li￿tte￿ ethe Company,)
I report tD the charity tri￿ on my exarnin￿ of the accouDts of the Company fortheyear ended 3 1 Dccen￿ 2024.
Re8pDns1Thililks and bwls of rew)rt
As the chHritys trusttes of the Coropany {8nd akn its dIrEd0￿ fi)r the PWFrf￿ of ￿)Mp￿Y Iaw) yoll are rr5poThsibie for the
preparatM)ll ofth¢ a¢c%>unL3 in ac¢ord8nce the requirements ofthe comp￿1￿ Act 2W6 (Yhe 2￿ A¢fJ.
Having s*isfKd myself tbat the accounts of the Con]pa4y ar¢ Mt ￿qUIred to be a￿lted Part 16 of the 2006 Act and
arr cligible for indewdcnt examitidio4 l T¢P)rt in resm of my examin￿0￿ of your Charit￿8 accounts as ¢arriwl out
idcr sectio￿ 145 of the Charities Act 2011 Cthe 2011 A¢r). ttl canying out my exzmiwtioll I have foiknved the DireCtio￿S
given by tk Charty under Scction 145(5) (b) of th¢ 2011 AL
Independent examlDer's ststell￿rt
giving me ¢au8e to believe:
acwuntin8 records Thrre not kept in resp¢¢t of tb¢ Cornpany as requircd by ￿￿)n 386 of th¢ 2006 Act or
the accrjuttts th not xcord with tknse re¢ord&' or
accounts dLI ]￿t comply wlth the a¢couttting T¢qu[reM￿ of Section 396 of the 2006 AGt other thw)
requireme￿ tbat the xcounts give a truc aDd fwi vicw whi¢h is Thit a matlez withred ￿ part of au ithpendent
th¢ a¢Gounts bav¢ AKrt b¢¢n prepllTEd in accord￿Ct with the methoth and winciples of the staten￿nt of
R￿0￿mended Practice for accoL￿ting and re￿￿ting by chariiies (appliGable k) ¢barities prepar5ng their in
Gordznce with th¢ Financial Re￿[ting Statyjard appliLxbl¢ itt the UK andRwublic of Irel&nd IFRS 102)).
I have no conc¢rns and have come acr055 no other matters in o)l￿eG￿0￿ with tbe ex￿￿1￿￿0￿ to whrch attetrtion should be
dravrn in this rcport in order to enable apropcr uthstaLditig of th¢ x¢ounts to be ttxl)¢d.
Paul MUTW
L M Griffiths & Co LitDit¢d
Chartered Certified A¢couDtsnts
1&2 McTiin5 Court
WinchLane
HaverfoTdwest
Pembroke5hir¢
SA61 ISB
,(12S.......................
Page 4

AVIATION BIRTfAGE FOUhYPAIION IIMTTED
srATE.MEhT OF FINANC￿ AcrnrmKs
f•r the Year Ended 31 DuYmb¢r2024
2024
2023
INCOME AND EfiDOlVME￿s VROM
DOn￿l00S and Icgaci¢5
32ffi49
28268
31713
28.292
EXPENDrruRE ON
Raising f￿dS
335
Cb&rltsble 8rtivitl
Charitabk activities
155
30,450
Totsl
4155
30,785
ET INCoMKI(EXPEND￿uRE)
{2.493)
RECONCIUATION OF FUNTXS
Total fund5 brought forward
A86
50.679
52,Y44
48,186
Page 5

AVIA￿0￿ HEBnAGE FOUNDAT(ON LIMrrED
31 Ilecewber 21)24
21n4
Unrt8tricted
fu*d
2023
FLKED ASSETS
Tangiblc L8srts
lo￿62
12.205
DebtOTS
Cash at bank
200
879
42.454
36,772
43J33
37.698
Amounts falliti8 due withtn olle year
(1051)
(1,717)
44182
35,981
TOTAL ASSETS IISS CL'BIIENT
51744
48,186
Nrf A&gETS
51744
186
FiIIYDS
Unrestrided fuJMIs
io
S2,744
48.186
TOTAL FUNDS
51744
48.186
The Charitable comp2lly is ¢ntitl¢d to fi￿￿￿dit Sedion 477 of the CoryaDi&% Act 2006 fDrth¢yetr eThlEd
31 De¢enther2024.
Th¢ mernbers have tKJt rrquir¢d the ClbtllpaDy kn obtaitt aD 8￿JIt of its fir￿lle1￿ statements for the Irar roded
31 Dec¢mber2024 in accordance with Se¢tion 476 ofthe Compatii¢s Act2006.
Th¢ trust¢es a¢knowl¢dge their Tc5poMi￿llTt1¢S for
(a)
¢D$uriDg tbat the th8ritable cotnpany k¢¢ps ￿U￿tillg re4xrds &)mply pith Sertiow 386 aud 387 of the
Compallies Act2006 and
ptEparing fjnanciai Stat¢rn￿ts Fknich givo a kne end fair vi¢w of the state of affairs of tho charitabk company as at
the end of f￿￿￿la1 year alld of tts surplu5 or deficit for e&ch finanGial ye4r inacGOrda￿t withthe rqutrem¢nts
of Sections 394 and 395 and which otherwise comply with the re4w]r￿ of the CDmpgDies Act 21106 r¢lakng to
fiD8ncial stat¢Jllents, so faras appliGabl¢ to the charitable company.
(b)
n¢In￿l...

AVIATION HERfTAGE FOIrn)ATION iJMfTED
B￿NCE SHEET. eoBtinued
31 Deceuther 2024
These fjThaDcial statemeots hwve becn PTep8red in XIXJrd￿ with tk provis￿ aFpIl￿￿ to charitable wnJpatiieB subject
to thc small conwanies regimB.
attd were sigAedon its iEhalf by..
hfrRBws- Trust¢¢

AVIATION UERfTAGK FOiJNDATION LIMrrED
for the yurE￿I￿d 31 IkreM￿ 2024
AccoirNTING POLfCIF3
Basls 0[pre￿rIng the fjnalld•l gt*tem¢nts
The finaTt¢ial ststem¢nts of the thwitsble ￿Mpatty, Trtiich is a public bmefit entity uoder FRS 102, have be¢n
prepared ID accordan¢e with th¢ Charities SORP (FRS 102) 'AccouDting R¢poitiDg by Charities: Statemellt of
Recommended Practice appltcabl¢ to ¢haritiC5 prep9r1￿ thcir p*coutJts in ac&)rdan¢e with thc Financia] ReporttD
Standard applicablc the UK atKI Republic of Irelatml IFRS 102) (eff￿]ve l January 2019),, Financiat Reporting
Standard 102 The Finan¢iai R¢porttD8 sts￿d￿ applicabk ID th¢ UK arml R¢pvb]i¢ of bEland' afid th¢ Componics
Act 2006. Tr financial statrynts have beenpttparrd wklerthe hithric￿ costconveDtiO]L
Tbe chartty ts dep¢ndent upoty the levrl of dorAions re¢eived. The dire¢ton of any mAtcrial
i]D¢ertainties in JnakiD8 their ass¢ssmeAtt of goTng c¥m(*rn. As a Tesutt Iky have ￿pted ts going c4)ncem bas&8 of
Income
All in¢ome is T¢￿guised in the Ststrment of FiDaD¢ial Actsvitrs thc has eotidem¢nt to the ffimth. it is
probable tt￿tthe inGome will b¢ receAved and the aDWt¢an be meas￿ed rdiabty.
peRdithTe
Liabxiities ar¢ recogtiised &8 expetiditiue a% S￿)n there is a legal or consttth obligation Con￿l￿g the cb￿lty
to that expenditure. it is probable that a troDsfrr of t￿￿Mi¢ benefits will t¢ requtred ID settIement atsd the amount
of the obtigatiOD be rn¢a$￿d reliably. EXp￿d1th is &couDt&l for on JD b&gis and hR5 becn ¢1￿16ed
under ILeadin8s that aEgrr8at¢ ail cost relat¢d to tbe category. Where tr*sts c4unot be dittGtly attrIbut￿ to parti¢u]ar
TaDgfble fixed
Deprcciation 15 provided atthc foIiowAng r8trs in ord¢rtO TrTAt¢ off eak* awtove¥ its estim￿ ￿efUl Iif
Improvemeats to propety
Pknt and machinery
Stocks
8￿ks are valu¢d at the of cost ￿lIS￿￿ vahK after maknrg th* allow￿ fi)r obsolet¢ attd slow
movingitejns.
IO% un T￿luci￿8 balawe
15%otsT¢duGing ba]anL%
Tlzalion
Fund 8ecoiiiitillg
Unr¢stricted fjJnds w be wed iti accA>rdw withthe charitabl¢ obje¢tivu atth disttetioll of the trustees.
Restrftctsd fw¥Js onfy be for partic￿ar restri(t￿ pur[￿ within objeGts of the clwity. Rthirtiotts
Hire purthase aDd1•95ing
Rentsls paid under oporoting leases ar¢ dwged to th¢ Stst¢mEn¢ ofFJttanCj￿ Activitie5 on & strdight line basis over
th¢p¢TityI ofthe leas¢.
The cothpty5 lumov¢r repres¢nts the sak of goods alowide donth Ttttivod from the gernrnl publi¢.
donation.
Pag¢ 8
continued..

AVIATION HERrrAGE FoU￿￿ATION IIMTfED
NOTES TO ThE FIliANCIAL STATFMEhTS.eo]thMe41
forth¢ YearEn<kd 31 Jkcellkn2O24
2024
2023
D¢p)sitaccountAnteRst
64
NET INCOIKFJ(EXPENDfniR
Net i1￿me/{cXpeUditU￿C) is stated 2ft0rclw￿(¢rC￿￿￿g)."
2024
2023
Dcpr¢¢ialM)n. owned assets
1.913
15,0
isooo
TheT¢ were rK> trll5te¢s' or oth¢r b￿fits hrtl¥ year c￿led 31 D￿eMber2024 ￿yr for the year ended
31 Dxembcr 2023.
Trus¢ee5' expenge
There W¢T¢ ￿ trustee's expeNe5 paid duritigthey¢ar (2022.kni
COMPARATtVES FOR THE sfATEMENf OF FINANCIAL AcTivIfIES
Donations 8Th1 legacies
28.268
Investment in¢ome
Total
28.292
EXPENI)ITtIRX ON
335
ChAr￿ble attfvities
ChaTitable activities
30.450
30,785
{1493)
RECONCIIJATtON OVFUNDS
Tothl ffi￿ds brougbt folv
50.679
continued...

VIATtON HERITAGE FOiJNDAIION LIMrrBD
NOTFS TO THE FLWAliCIAL sfATEMEN7S.eoxthi￿l
for the YeAr Endtd31 Iletwber2024
COMPAR&TIVES FOR ThE &rATE}IK￿r OF FINAliCIALAcrJvrriFS.eoAthill¢d
Unr¢stri¢ted
ftuhd
48,186
TANGIBLE FIXED A￿ETs
PknDt ar
Totals
COST
At l Jattury 2024 and 31 DeceDthtt2024
15152
21J53
37,11•5
DEPRECIA￿oN
At l J￿ll￿ry 2024
Char8e foryear
lia66
13,434
1378
24JIHI
1,643
At3 1 De￿rnber2024
11.731
14,712
26843
NET BOOK VALUE
At 31 DeCe￿ber 2024
3J21
7341
IOJ62
At3 1 DeceM1￿r 2023
8J19
12,20S
2(124
2023
stocks
2011
200
KBTOR8.. AMOUTh FAILING DiJE wn￿￿.0￿r VEAR
2024
2023
Page io
e4mtinued...

AVlaTION HERTTACE FOiJNDATION LIMfTED
NOTES TO ThE FJNLYCL4L STATEMEYTS.tontiDued
for the Year Ended 31 DeeembtT 2024
2023
lJ51
1.717
io.
Net
movemetrt
At
31.1224
At 1.124
unwert￿ttcd fundry
4&1
4558
52,744
48,186
4558
51744
Nct rnovemenl xti fijll￿ illcludcd in theabove are &% follows:
¢xpcnded itifund3
Unrogtrleted
3L713
(28J55)
32,713
(28.155)
558
C•mpAratives foT IIIDveiiient in fDMds
Net
At
31.12.23
At 1.123
ULretrl¢ted
50.679
(2.4931
48,186
50,679
(2,493)
48,186
Ptge li

AVIATION HE￿AGE FOilI￿ATION LU¥IITED
for the Yexr Ended 31 December 2Q24
io.
CompaTativenetmovementin funds, iti thE above #rcas follows:
UnrEstsicted fvmds
General fi￿d
28,Y2
{30.785)
11493)
TOTAL Ft7NDS
28292
(30.785)
(2,493)
A cwrentyear 12 8Dd priotyE4r 12 corobitied posity)tt i8 a5 6)ll0￿.
'et
At 1.123
31.12.24
Unrestricted IUD
GBn¢ral fimd
50.679
1065
51744
TOTAL FUNDS
50,679
2.065
52.744
A CUTr¢nt year 12 months aThq prior year 12 nM)nttL4 combtr•J net ID)Ve￿ in fi￿, itsclud¢d Att the above are as
folloME:
CAPYMled in funds
Unrestrirted
Gmeral fund
61.￿5
(58.940)
1065
TiYfAL FUNDS
61.(M15
(58940)
2,065
Po8¢ 12

AVIATIONHERrrAGE IYJUNDATION IIMrrED
NOTIS TO THE FI￿ANCIAL sfATEMENTS.cDmtinved
ror the YEar EDd¢d 31 Detember 2024
li.
Pagc 13

AVIATION ll￿R￿AGE FOUNDAITON lJh(rrED
for tle Yt4r Ettded 31 December 2124
2024
2023
COME ANDXThDOWMENTS
Dollations aDd legaci
Don&ions and sale of doDat¢d goods
Gift aid
32A•6
28.268
3209
28268
Investment Income
D¢posit accomnt ittterest
64
31713
282
xPE1￿MIB
Rllskng donatiOk4 and kgacies
Purchases
335
Cknrltab]E acthill
ReDt
ItDprovements to property dePr￿latiOll
Plant andmathin¢ry depreciation
15.•M
366
1378
15.000
410
1,503
16.913
Other
Rates and v
97
1,811
4.364
2.611
774
237
l.LOI
Light and hcat
TElepho
Postage andstationery
Sundrir5
1319
3,110
Motor and tsavel
SubS￿lpt1o
Computer ewscs
Accountoncy
Bank charges
ProfessiotMI fe<$
32•
71
630
213
1.080
365
47
11,511
13537
155
30,785
Net incomel(exp¢Mlithrn)
4JS8
(1493)
Page 14