Re9lstered number.. 06460179 Charity numbor: 1133304 THE ROYAL SIGNALS MUSEUM (A COMPANY UMITED BY GUARANTEE) TRUSTEES REPORT AND FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2024 UNAUDITED CONTENTS Comparry Infonnation Trttee$. Report Indèpendent Examln•e$ Report statem•nt of Financlal A¢lfvlties Balonce Shoot Ststement ofcash Flo Notes to tho FlrAnciaF Statsnmnts 10-16
THE ROYAL SIGNALS MUSEUM IA COMPANY LIMITED BY GUARANTEE) COMPANY INFORMATION COMPANY SECREfARY Mr R N KendallQarpent•r TRUSTEES Cwt¢d Brigadier PJ Davies Brigadier EM Flint Colonel A Cunningham TD Lieutenant Colonel R Buston TD- retired 6 Decembèr 2024 'eutenant Colonel RVJ Brar19a- appointed 6 December 2024 Mrs JM Stockdale Mrs S BLKhart-Jon85 Warrant Officer Cla88 2 V Hawl Ex-offiuo Colonel NC Bruce ADC Colongl RS Jacquas£w OBE Warrarlt Officw Class 1 PHJ Sleel- rebred 18 April 21r24 WaThant Officer Class l A Jat¥rwi- appoinied 18 Aptil 2024 OMPANY NUMBER C6460179 (England Wales) CHARITY NUMBER 1133304 PRINCIPAL ADDRESS AIID REGISTERED OFFICE Royal Signals Museum Griffin Hou8e, Blandlord Camp Blandford Forum. Dorset. DT118RH INDEPENDENT EXAMINER R Mara)onald Moorè (Souih} LLP 33 The ClendOn Centre. Salisbury BuSHS Park Dairy Meadow Lane, Salisbury, Wiltshire, SP12TJ BANKERS Uoyds Bank PLC Coxs and Kings Branth POBOX 1thJ BX1 1LT SOUCITORS Wi18<)ns Solicitors LLP Afexandra House. St Johns Strèet Sallsbury Wittshire. SPI 2SB
THE ROYAL SIGNALS MUSEUM IA COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 DECEMBER 2024 The Twslees Present thgir report and thè fin8n¢xal stat¢ments of the Charty f(Y the year ended 31 December 2024. The financial slatements have been prepaied in 8¢uidance with the accounting policies set out in noie 1 lo the nancial statements and cotllply with the Ch8ri1ies Act 2011, Ihè Companie5 A¢t 20C6, the Memandm and Artldes of Associath)n and Aox)w)ting and Reporting by Charities: Statemènt of Recommended Praclice appliixble to tharttses ppafing their arLounts accori¢ance with the Finaria81 Reporting St8ndards applicable in the UK and Republic of Ireland {FRS102) {effe¢tive l January 2019). STRUCTURE. GOVERNANCE AND MANAGEMENT The Royal Sl9nals Museum Trust IRegist8rÉd Chaitty No. 1070420) was established by a Deed of Trust datsd 10 June 1998. On 27 DecembeT 2007 8 new charity w8s incorKK)rated as a company limited by guarantee. Th Royal Signals Museum (Company No. 06460179. Registered Charity No. 11333041. A scheme to transfer the assets ofthe Tru8tto the Limited Company was apwoved by the Charity Commission on 15 December 21)09. The governing document is the Memorandum and AxlKles of Assoct8tion dated 27 Docèmber 27. 83 atiered by Special Resolution passed on 4 March 2008. Exh nv•vty appointed Trustee Teceives an induction pack c<Jntaining the govemlng dowmenls. skatemenls of accounts and a copy of Ihe Ch*ity ComMisOn'S guid6'The Essential Tnjstee." What You Need To Knov. Most ¢urrenl Trustegs aTe familtar with th8 work and procedures ollhe Charity throuoh theii seNiGe in The Roy81 Corps of SignalB. New Tnjstees aTe appointe(I by assuming their ex-offiryo iole or by being rApIed by the esting Trustees. The Board of Trustees usually meel biannually and al any otheT time to mÈei specFfic tequiiements. Thè Twslees agree th8 broad strate9y and the Mtsseum's FopNard Plan. The re8ponsibilty for the day lo day wnning of the Museum is inv6Stèd in the Museum Director who is Secretory lo the Board tsfTwstees. How8ver, th6 Board takes 811 major de¢isMJns conceming the govemance of the Museum. The Board is supported by: The Museum Ftfiare and EXetiVe Committee is chaired by a nominated Trustoè and meets al least quarterfy. 11 considers all fjnancial aspth of the Museum's operatlon. It adwses the Director and Business Managèr 8nd makes tocommendauons lo the Board of Trustees OTr finan matters induding ir$suran. Investmenl. current IncLJme and expenditura. ri$k managewnent and thè annu budget. The Musttmrfs AcqStl9I1S Ad¥FSOry Commiltee. which considers the requiremènts wiisilions to And dispos8ls from tho eA)Mection. It advises the DiiectOF and Cutator 8nd reports to the Board ofTruste8S. The day to day management of thè Ch8Fily is d¢legaled to Mr R N Kendall-CarpenEer who Ixn be contacted at Refjimental Head4uarteTS ROYJ Signals. Griffin House. Blartdford Camp. 8landbrd Forum. Dorset. DT11 8RH. RELATED PARTIES The ROY Stgnals Musewn Trading Compary LimTrted is a sub¥idlary of the ChaEity. Th8 Chatity has a dose WO9 relationship The Royal Signals Ch81ity. Tho Charities havg Sirrsilar objeclives. activÈtre8 and unlts of adminlsts81ion. RISK MANAGEMENT The Twuslees have considered thè MÈior risks to whKh the Charty is expo¥ed and haw revied thosa rtsks and éstablished systom8 and procedures to manage those risks. Two strategic risks have bean idenlified. The Ministry of Defence {MoD) might continue lo redu. or èven curtail, their financial assÈstane£ to such an extent that thè Museum is no longer viablo. The MOD could for relocatTon of th8 MLEseum.' it is likety that this would be laFgety ftjnded by the MOD, but there would b8 a shortfall. To mitigate fhose risks. th& tntslees ofthe Royal Slgnals Charity have given assurances that thèy woukl SUPPDrl the Museum.
THE ROYAL SIGNALS MUSEUM IA COMPANY UMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) OWECTIVES AND ACTIVITIES Oblectlves Th8 objectives of the Museum 8te to.. Presotve and enhance the historical ¢olFeclion of the Roy81 c ofsignals in acc4)rdance [h ils declaralb)n ol Trust and its Acquisition and Disposal policy. Make the pub14G aware ol the Royal Corps of Signals, its role and a¢htevements ther8by cortrtbuling to thg projection of a positive image of t Army. Co[bute to the esprit de corps ol the Corps. Illuslrale aspects of military life. the dovelopment of weapon8 arÈd equipm• and the Servi aEJd S8CfifKe of the communfty. Promot8 militsry efficier¢y and encourage recFtJilment by public exhibition of its ¢olledions. Provtdè an educaliotml resource tor both adl and children th particular refeience lo the National Cufflculum. Prowde a focal poknl for rnembers of the Corps. both sèNrng and retlred and theii h&rs and sucressors. Vn(knpin the identity and values ofthe Armys Reglmental System throu9h Ihe exlslence oflhe Corps o)Ilectton artd archives. Provide th8 puwtcwith an enjoyable and odue8tional experietrKe at times that tt convenienl lo thè visitor. Promot8 mtlitary scholarship and research. Actsvitles The Museum's operation encLsmpassèÈ a number of diverse activities lo meet its alm$ and objedives. These en8We it to bDth meet the needs of Ihe serving al retired Corps. Ihe Arnry and the wider pbc. The M¥Jseum rnaintasns an inlemet sitÈ. t8serye coll¢¢iK)n. archiv6 and libtary for res•8rch purposes and lo safeguard the heritagé of fhe Corps. The bjsiness Sect is re5portsible for the marketg of the MLtsèum and furKlraising initiatrvés and events. The shop (indudin9 an intemet mail order facility) rvrt throtrgh a subsidlary rA)mpany. The Royal Signals Museum Tradtng Company Limited. The Museum has outr8ach seNlces and loan bDxe¥. ll 8UPPOrts artd encourages the use of the Museum's faolilies by schix)Is. colleges. youth organTrsafM)n8. mililary COUFses. Amiy Cadèt Force. Combine(I Cadet Forcs. adult groups (Éuch as Probus. Lions. Wl. Rotary) and ffluitary assoctatlons. The Museum supports the by providing free visitor access for soldièrs. free access and guided tout3 for olficial vithrs to Ihe ffip. free ac1 to all personnèl based on the Camp. res881th materiaf and acc&%s for pSOnnel on courses and for cOS unils. induclion visiis lo all Y rerjuited officers and soldiers and an artefact loan f8cility for cOS units. There also displays dedIng Current Military Opetalion& PUBUC BENEFIT Takin9 the Charity Commission's guidane into consideration. tho Trustees are satlsfled that th8 puNic beFr11 requirements have been met. The Chartty Provides public bet)efft to the general public by.. educatin9 thwn atout the roles. activlti8g. achievemEnts, capabililifrs. I)ltage aThJ equtpment of the Rr)y81 Corps of Signajs: buildlng and pr&serving a valuablè historic comettion, and encouraging scmarshlp. comrnemorating and remembersng Ihose have lost lives or suffered InAury in the servi(Y of th8 public ofthe United Kingdom: strengthenlng the links bthYÈen the milrt8ry 3nd avllian communities" emphasising the contrlbution that women have ma(lè to effedivone56 of milst8ry ¢yJmmunlcatlms and moting volunle6ring', r8rA>rdin9 and pra$enting the deeds and works of existing members of the Cory)s, as well as those of their forebea. IhÈreby conltibuUng to the espnl d8 CO oftho Royal Corps of Si9na5s and tr) Ihe effirjency of the Bwitsh ArTny.' and providing a tg¥earch library and arch¢val services. guK(le(I tours. and national ojttiwlum based school a¢Xivili8s as well as an enioyable and educational museum experience for thè gèneral pubkc al lime8 convermgnt lo the public and for a Igasonable fae With a variety of Individual and group ry)ncessSons.
THE ROYAL SIGNALS MUSEUM (A COMPANY LIMITED BY GUARANTEEI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 (c(Jntir4Jedl ACHIEVEMENTS. PERFORIIANCE AhlD FINANCIAL REVIEW The Museum's adrviti93 and vrsitor admissions ale rebuAding aft¢r the Covid-19 pandomK, bul Dot to pre- pandemic levels. The new story-telling exthlbltton (X?jlEd to grow. The planned refocusing of the Museum's aclivitie$. following the redundanel88 In 2023. proceeded in 2024. Total in(x)ffie for the year amounted to £266K 12023". £272K)" 2023 included a 18oacy ye¢1& and dunated ompulers valued at £18K in total. The annLTral general purpose grant fr¢Jtn the Royal SMJnals Charity {RSC) in 2024 anKvJnled to £131K {2023.' £131K). Total expendlture Ixm8 to £296K (2023: £345K}. of which depation arnol to £28K (2023.. £25KJ" also 2023 induded the notional cost of Ihe legacy vehide and redundancies. Thè dÈf41yI for the year amourrted lo £30K {2023'. £72K) of whh £20K12023: £17K) arose in Desnated funds. The Undesignated Gèrfal Reserve reduced by £1 IK to £196K. If the depredation itt the ye8J were to bè ¥Jnored. tho defi(atwould have amounted to less than £4K12023: £44K). RESERVES POUCY The TDJstee5 have decided thal thè Museum shoLtld maintain a minimum reserve in the General Fund of the greatw of either a yearfs Salary r48ts (not Hiduding posts funded by Amy 9tantsl or 6 months operatg o)sts. If the need arose. this should albw the Museum to 6hul down in an ordetty fashion. pay redundancy costs 8nd distribule the contents of the Colleclion and Archive to other 8ppropriate bodiès. The Geneiaj Fund les8e3 (free ol all de8ignationsl ar8 [reAl about £80K in exceg8 ofthis minimum. The General Fund reseryes continue to be Lssed to fvnd the deff<yts on basic opeiations, for working capit81 and roulinè wdatirtg of the displays. EKemal fundirtg will have to sought for fulure major proiecis or aGquisitions. PLANS FOR FUTURE PERIODS The Museum Dir8Ctor continU8S to direct the development of an achievabje 8nd 8UStainable programme of exhibits. exhibitions and activities and in constsll8lion wtth Ihe Trnslees and key stakeholdets, Ilevelop a strategy for the Museum. Th8 Museum staff wibnue to be dIrd at thanging the focus af Ihe Museum so that story-telling b8¢0mè8 principal m88ns of pr+ynoting esprit dg corps and undetstar)dirvJ. This wlt l involv8: Fundin9 and buildin9 a story g8lhering and telling capability.. Reducing the Re5etve Collection to a minimuwn, keeping onty those obierAs Ihat make a cDntiibution to the Museum's ability to tell the C¢tPS' 8101ies" Tuming the Archive into a resource to s1018 and tell the Corp5. Storigs.. RÈduang the stx)po and scale of the Shop to a minimuffl level needed to make a visit to the Museum a 8atisfytng expérien for membws olfhe general pub¢. GOING CONCERN Thè Musouvn continues lo be dependent on thg financtal support of the Royal Signa15 Charity. the Ministry of Defence and the Amiy Museums Ogilvy TWSL as as 01heF grant making bc¥Jiés. There is no tndi£¥lion that any of these may be curtailed the neai ftFtwe. Thè dosing cash po¥ilion al the year-end is Strong as is the rÈÈerves position. The Tnjstees beJie¥e that the Char[3 financial oTrEs and c))nling8ncy pjannlng is sufficitint to ensijre the alxlty of the Charity to continue as a going (x)ncem for the foteseeable fulure and that Ihefe we rjo malertal uncertainties aboui the Chaws abitity to continue. bairtg at least h¥el¥e months from Ihe dat8 018pproval of ihese finan(xal slaÈements atvj therefore have p8[ed the finarla1 statèmènts on a goi)g eA)n(wn b8SiS. As a ie8ult. at the date of Sning. Ihese finandal statements bndt(te that the Charity wtll be able to conknnue to operaie as a going conr8En.
THE ROYAL SIGNALS MUSEUM IA COMPANY LIMITED BY GUARANTEEI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinuedl STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees Iwho aré also directors of the The Royal Sign8ls M[eUm for the pUl)St8 of Company Law) are responsible for pieparing Ihe Trust88s' Annual Report and the finandal stalements in aC[ae th applicable law and Unlled Kingdom Geneially Accepted Aecounting Practi (United Kirtgdom Accounting Standards}. Company law requires the TDJsteÈs to prepare thg finanryal ststements for eac finanoal ar. Undei company law thè Truslees must not approve the finanu81 statements unlgss they are satisfied that they give a tmè and fair view of the alfairs of Ihe charitable cornp8ny and of the inwming resourcgs 8nd the application of resourcès. induding the InMe and expèndiIu, ofthe chaFtsble ClpanY for that period. In preparing the fjnancwl slalements. the Tnjstees are required to". seJe¢t Suitab aCcoUnrIg poJtCTes and then appFy them ConsienY.' )serve the method5 and principles in the Charities SORP; fflakejudgeFnenls and estimates thatare reasonablè and prudent." state whethorapplirable UK 8ixx)untlng Standards have tjeen follts5, subiecl to any material departltres disclosèd ar explalned in the hnancial statements,. preparg the finanual stalemwls on thg going &Mcem b8si8 unless it is aN)rOpriate to presLHlle thatthe Chwity will continue in business. The Twslees aFg responsible for keeping adequatè acD)unting r¢wTds that are suffifyént lo show and explain the charitable u>MpanS Iran$actions. disclose with reasonabl8 x(xuiacy at any time the ancIal StOn of the charitable (xmpany and enable them lo ensure that the financtal statements complywith the Companies Act 2006 and the provi5i0Tk8 of Ch8riVs consblulion. They are also iesponsibl8 lor safeguarding thg assels of thè ChaFity 8rKI hen for taking reasonable sleps for the pievenlion and d&tedion of fraLpJ atKI other iFregularities. In preparing this réport, the dirEdoTS have taken 8th18ntage of th6 small companie¥ oxemptions provbded by sectlon 415A ofthe Companies Ac* 20. Approved by the Tru518 and sIgtd (m thetr behalf by. Brigadier EM Fllnt TSlee ffviL 2025
THE ROYAL SIGNALS MUSEUM (A COMPANY LIMITED BY GUARANTEEI INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 I report to thè trustees on my examination of th8 finanii818lalements ofThg Roy81 SNJnals Museum Ilhe chatity) for thè yeai fjnded 31 Oecemb8r 2024. R•spoMlbllltiè$ and ba81$ of roPQrt As fh& tnjslees ofthe charity land also its director¥ foi fhe purposes of company law) you are responsible for the pr¢paralion ol the fmanoal slateTnents in aGrdance Wth Ihe requirements of the Companr8s Act 20061th8 2( Act). Having 8alY6fied mys¢lfthat the financial 5tst8menls of th& eh8nty are not requrred to be audited und8r Part 18 of the 2006 Act arKI ale eligible for indtrp8t)dent examinalÉon. I rew)rt in respocl of my examination of the than$ finan¢i81 statements carried out under sedion 145 of thg ChaTities Act 2011 (thg 2011 Acl). In (srrying out my examination I have followed all the applIle Directionx giver) by th¢ Chwity Comnwssion undet section 14515){bl of the 2011 Ind•pdent•Xaml&Vs #tatement Since Ihe ¢haril*8 gross income èxcwded £2SO.OCrfJ your examlner must be a member of 8 body listed in wAton 145 oftha 2011 Act. I confiFm that l am qualified to undertake tho examination be(xu8e l am a member ofACCA. whith is one of the listad bodiÈ¥. I haw completed my exafftination. I confim) thai no matter5 have Come to my attentK)n in connectlon wilh the exaEn1nali( 9iving me Se to be]ieve Ihal in any m8terial respect.. accounling records were not kept in r&spèct ol the charty as required by seclton 386 oftha 2006 Act., or Ihefinancial slalements do not accord with those re[d8. or the finandal ststements do not compty the COul7tng 19gulrements of section 396 ofthe 2LTh Ad other than any reqLtirem8nl that the a¢¢ounls give a trLtè and fail view whith l& not a maiter ¢on8id8ied as part o18n 1ndepetenI oxaminalion,. or the financial stalemanls have t1 b¢gn prepared in a¢CA)rdan with tha mèthods and prtnciples ol the Ststement of Rewmmended Prdctio foi ac(x>unlin9 and reporting by charities applicable to chèrilies preparing I•r accounts arxordance the Financial Reporting Stsndard appbcable the UKand Republic of Ireland (FRS 1021. I hav¢ no shoul s and have come across no other matters in o)nnection wth the examlnafton to which attenlro thi rt in order lo enable a proper understanding of theffinanci81 ststements lo be reached. Robèrt MacDonald Moore (South) LLP 33 The Clarendon Centre Salisbury Business Parf( Dairy Meadow Lane Salisbury Willshir8 SPI 2TJ Date. 15 2025
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THE ROYAL SIGNALS MUSEUM IA COMPANY LlhllTED BY GUARANTEE) RegisteTed Company Number 06460179 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note FIXED ASSETS Tangible assets Herilage assèts 320,270 342.1 320.270 342.106 INVESTMENT IN SUBSIDIARY qo CURREIIT ASSETS DebloTS Cash al bank and tn hand 153.250 108.159 160,418 101,133 261.409 261,551 CREDITORS.. Amounts falling due wlhin one year NET CURRENT ASSETS 12 1108,5441 152.865 111)0,941) 160.610 TOTAL NET ASSETS 473,136 502.807 FUNDS UNRESTRICTED Designated Funds Fixed Assgt OtheiAssfyl Fund 267.459 7.025 285.786 274,484 195,517 294,852 206.820 General Fund 13 14 470.001 3.135 501.672 1.135 RESTRICTEO Total Funds 473.136 502,807 For the year ènding 31 DecEFnber 2024 the company enlided to exempllon from audit undei seoaion 477 of the Companies Aet 2005 relating to small companies. The Mere[S havè not reqUId the MpanY to obtain an audit of ils firtanaal ststwnenl8 in accoidance with secliDn 476 ofthe Companles Act 2006. The directors ad[nedge Ihetr r8sponxibility for compIng with the requiromeftts of the Act rgspect to a¢intIng records and forlhe preparation of atsUnts. These financial slalements hBve been wepared in 8ccordan¢e with the PTOViSiOnS TeLgting to thè srnall companies regime within Part 15 of the Companies Act 2006 relalin9 to small cx)mpanies. Th8 fln8nctal stslernents on pages 7 to 16 wer6 appToved by the Board ol Trustees and sig11 on its behalf by= Brigadier EM Flint Trustee The notes on pages 10 10 16 form part of these fin8n(x81 slatem*)ts.
THE ROYAL SIGNALS MUSEUM IA COMPANY UMITEO BY GUARANTEE) RegF31er8d Company Number 06460179 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2Q23 Cash flows from opprntlng xtivities Net expendilLtre Adjuslmenis for 08w8ciation chargès Invesimenl income shown in invesfing a¢A4wtie8 {IncreasollOècreas8 in debtors Incre&sel{Decrea881 creditors (29.6711 (72.339) 28.126 {2.486) 7.168 7.603 24.819 (2.6831 41,286 18.109 Net Cash provlded by operating activltle8 10.7fAJ 9,192 C•$h flows from Investlng aclivitles Intefest and dividends from invèstmenls Purchase offixed assets 2,683 {13,541) {6.200) Net ¢ash pmvld8d by Inve¥tlng activlties 3.734) {10,858 Changg tn cash and cash equIlents In the year 7.026 11.666) Cash and cash equlvalents broughl forward Cash and cash equivalBnts Garrled foTh¥ard 101.133 102,799 108.159 101.133 Cash and cash equivalents CMprSe of Cash in hand 8nd Bank balances
THE ROYAL SIGNALS MUSEUM IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2024 ACCOUTING POUCIES 3. Charfty infonnatk>n Thg Royal Swnal8 Museum is registered 89 an incorporated Chartty limited by guarantee wilh Companio House Iiegistered no. 06460179 England and Wales) and the Ch8tity CornmissKJD {registEred no. 1133304). It8 Regislered Office18 Griffin House. Blandtord Camp, Blandford Forum. Dors81, DT11 8RH. b. Bas59 of PP•tation The finan(aal statements have been preparéd in aroydance with Accounting and Reporting by ChaiilbÈ8'. Statement of Recommended PiactÉce applicable lo tharitiès preparing their [lal ststements in aordanC¥ with the Firtanoal Reporting Standatd appb¢xbJe in the UK and Rapublic of Ifeland {FRS 102) lÈffÈctivÈ 1 January 201g)- (chille5 SORP (FRS 102)), thè FIft8nal Reporting Standard appl¢(xble in the UK and Republic of Irèbnd (FRS 102) and the Chavibes Act 2011 and Companies Ael 2006. The finan¢lal stalemetbfs ha been prepared under tho h4Stori¢al cost convenlion wilh Ihg exception of investmènts which are included at mke1 value. ConsolKlateiJ ar£ounts, inccKporalTrng the subsidkgry o)mpany. are Mit pr¢pared as the group h8S take advantage of Ihe siz8 exemph"tsns. The Royal Sign81# Museum meels the defintthjn of a public benefft entity )der FRS 101 . Golng Concem The Charity has eAsh rèwrces and has no requirement for addittonal axtwnal thrtding. The Trustees have a reasonable eypectatton thal the Charity has adequate resources to conbnue Fn operation81 StenCe for the foreseeabl& futu 8nd there are no material un(xrt8intiès about th& chafivs ability to rA)ntinue. Th&y continu¢ to bBlievg the going concem basis of accounting is appropriatg in preparing ihe annual financial st8tÈmÈnls. The TTu¥tsgs have been in negotiations for a forn1 leasp foi the 18nd on which the museum vra8 built. Progress ilh this stalw during the Strategic D8fence and Security ReVW and thg Borganisalion of th8 Defence Eslatès. It is expected that negotiations wll resume. ThIs txusè$ uncertainty conceming the resid11 v81ue of the museum buildin9 the Balanr£ Sheet aRd potentÈalty the museum's 8btbty to conitnue on the same sit6. The Twustees beIve that th81& is 8 iisk of an tyjtcome whith would put Ihe opwaUon of the museum at significant iisk. d. Connected Charltles The Charity is wnnected to the Royal Signals Charity (an uninwJor8ted thwty), due to their tgfalgd objeCtsS a1 adyvities. The Charity Fs also nnected to Ihe Roy81 Signals Museum Trusl (a domiant unincorporated charity). Thi8 Èntity previousty condyLled the Charilys charitablè operation8. •. l)onadons. Legaeios and Grants ReceSvabl• Inc£•Me from don81ions. fundtaising and lég8cJÈs are accounted for a receipts basis unl&ss thè In)Me will b¢ 1gc8ived and its value c8n be rneasured tswih suffiaenl rdiability. Those funds provided fot a specific pufjwe are laken lo a lgstiithd nd. For legacies. entid8ment is taken as the of the dale on %thlch either. the Charity is aware that probate has been gFatrted, the estate has b8èn finalised and notificalion has made by the exeortoi{s) lo the Charity that a dismbulion will be made. or when a rfistribution is received ftom th& estste. Receipt of 8 legacy, In or In part. 15 onty cons1deA pthble when the amount cAn be rned reli4bty a[ th8 Charity has been notified of the oxg¢utorfs intention lo make a disltibution. f. In¢omo from Investm•rts bncomo frt)m inves11$ Is 8ccount8d for on a lfvable bas18. g. Grants Receivabte Giants recewaue from govemment trAidies and other Sou¥ èF8 received foT SFufic pioieclsl(y)sts and are teco9r7ised In accordance wrfh their bndividual t8(m& and wndiiwis. I10 is rgcogni8ed when the Chaiity has entlt1Br to the funds. which 1$ vthen any perfomiance condrftons attached are met. it is probable th•1 the income will be reived and the arnounl (xn be retlabty meawred. Grant ineA)mè will be defe[1 Éf recewed in advanca ofmeeting perfomiance widitions or rf the funder speiyfKalty 8tales that the income must be sponl in a future arLoUnt pèri¢xl. to
THE ROYAL SIGNALS MUSEUM IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 h. Rè$ource$ Expended Dlrgct Charitable costs 8rÈ allocated lo the par1lar ctivity Y+ther8 th8 o)st relales dlrecuy to that activkty and in accordance with thè objectives of the Chwaty. Suppvrt costs comprise exp8ndrfure incurred direY In support of Charitable Objectives. Govemanee eosts represent professlonal and statutory fees in respect ofthe runNng ofthe chlty. l. Herflag¥ A¥$?ts Hgtitag8 assets are deffined as assets of hlstoric. 8rtislic or scientific impotlance that are held to advan PreSeallOn. cOnseatron and educational objectives of the Charity and through publsc access contritr¥Jte to the nation% culturè and edL&cation at either a national or kncal levd. These assets ale central to fhe 8thi8V8menl of the aims of thè Museum and indud8 exhibits and artetact8. Heiilage assets PLwchasÈd or donated to thp Museum are Charg to expendilure at wsl or valL10n wh&n Ihey are acquired 8nd are nol capitalisèd and depreciat., they have no r6alls8bl8 value. as they h¥ve to be offered to other museums when disposed ol, and they have an indefinito useful lrfe Ise6 not• 9). In 2016 the Museutn was rtraccredtted by the AJts Council Engfand. so it hès beerF judged as meèllng govemmént st8n(Jards for acquisition. pr&8ervation. management. dispos and reravding of the collection. It 1$ open lo the public 7 days ¥ week in the Sutnmer and 5 days a weèk in the Wiriter. j. OtherTangSble Fixed Assets and Depreciafjon The extension to the Museum building was capilah'sed 31 cost. Its rea$8b[e value and usthl life cannot currenlly be detem)ined. due lo the lack of a le8se as mentioned above. It is being d&pLalert al 5°k por annum. by the tedwng balance mèthod. as a reasonable ¢stimation. Equipment, fixtures and fiitings used for 8dmini$lralion. maintenance. 8r¢hives and display purposes. costing more ihan £500 are capitalised at C4)sl and depmaaléd 8115%. 20% or 33.3% per annum. by the strwghl Ilne method. depending orj thè type ofthe asscL Impaitmgnt reviews ar& out regularly. k. Taxatlon Thè ènity is a reglsteted Chity, and as such daiEnS ex¢mptioTh for JJI its Uniled Kingdom incomè and gains. properly applied for its charitablo purposes. Fund Restricted funds ar8 amounts whith have been earmarked by the donors foF spedlc puses. Unrestricted funds a expendable at Ihe disctetton of the Twstees. Deslgnalgd funds are unstrIcte(l fvnds. 5et-ask4• at Ihe dTrscretion ofthe Twstees for sp8¢fific pUe$. . Debtoys Debtors arè COgnised at th8 settlement amount due and prepayments we valued althe amount prepaid. n. Creditors Cieijitors and provlsions are recognwj vtsre the Crity ha8 8 present obltgat4on rÈsulllng from 8 pa¥t event that wlt I probabEy result in the transfer of to a third party and the amount du& to the obligatlon be measured or gslimated r6bfy. Piwsions are not discounted to preserTrt value as thg diflprencewould bg ifflmaterial lo th8 ffinartctal Statements. . Flnan¢lal Instrum¢nts The Charfty onty has financAal assèts and financial li8biliiies of a knnd th81 qualify as b4sir finanual Instsurr]¢nts. Basic fin8n(Jal ittruMents are intttauy rwnised at ttan8action and subsequendy measured at Iheir settlement value. The charitab Company has the fojlomng baslc finanoal inslnjments: C8sh at bank and in ft8nd. deblors and we all measured #t amortised cosL p. Critical accounttng Judgements and key sources ofgstirnatlon uncartalnty Preparation ofthe financtal statemènts requ5res management lo considar making any signifiwil judgements and e5tirnates where n•$S8. Thete are no it8rrts in the fmancial statements where slgnificant judgements and eslimations hav8 been made. 6P1 for derM¢oalN)n 88 noted in 11 above. 11
THE ROYAL SIGNALS MUSEUM IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2 DONATIONS 2024 Reslrided Totsl Funds Funds 2023 Tolal Funds Unrestrictéd Fd$ Blue Card Membetship Scheme Disposal of excess storÈd items Legactes Individuals Other 12,601 1.841 12.601 1.841 14.277 10.500 1,818 8.000 34.595 17.400 34.595 19.900 34.595 Prior Yè8iTotals 3 CHARITABLE ACTIVITIES: GRANTS RECEIVABLE 2024 Restricted Totsl Funds Funds 2023 rotsl Funds Un$t[l(led Funds Royal Signals Chartty- Corps Grant Army Museums Ogilvy Tru$1 Grant in Aid Outreach R8dto Trailor 131.000 131,000 131.000 80.817 80.817 75.505 131.(100 131.000 80.817 75.738 211.817 206.738 206.738 Prior Ye¥Totals 4 INVESTMENT INCOME 2024 Unrestricted Restrwxed Totsl Funds Flsnds FurL(Is 2023 Totsl FLtnds Inlwest on Deposit Accounls Inleresl from Subsidiary Cornpany Inole 15) 2,110 356 2.110 2,227 456 2.683 Prior YearTotals 2,683 S FUND RAISING & PU8LICITY COSTS 2024 Restricted Tot81 FurKI8 Funds 2023 Total FLmds Llnrestsided Funds Museum PubfKbty 6.039 5.796 5,796 6.IY39 5,796 Ptioryear Totals 12
THE ROYAL SIGNALS MUSEUM IA COMPANY LIMITED BY GUARANTEE} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 6 CHARITABLE ACTMTIES COSTS 2024 Restsicted Totsl FurKJs Funds 2(Y23 Total Funds Unreslrrcted Funds Projects and eXhitionS Mainten8nce A¢quisilions- Ajlifaets, Books. Medals. Elc Austin Champ Vehide trom Legacy Outreach. Vehieje Costs Reduction in shDP Stock (Note 15al 827 2.473 11 10.000 30 1.860 317 317 1.870 1,870 5(KJ 13,341 Support $ts.. Staff Costs Redundanoes 156.226 80.817 237.043 263.945 11.169 5.936 6,196 8.500 1.634 315 165 7.737 5.934 7.697 1.707 1.324 IT Support Personnel Expenses Volunteei Expenses Bank Credit Card Charge8 Miscollaneous Expenses Depreciathon (Note 8) Govemance co$l$: Trustee Eypenses Indwdent Examitiatron 7,697 1.707 1.324 511 7,758 511 7,758 226 2.025 188,283 226 2.025 269.600 445 2,4CM) 321.783 81.317 Funded from Designated Funds Depreuatton (Note 8) 20.368 20.368 208.651 81,317 289,968 263.360 75.505 338.865 One Trustee12023.. 2} re¢11 reimbursemÈnl in respECt of travel expenses in 2024" none {2023 none) were remunet8ted. 17.082 338.865 Pritir YearTotals 7 STAFF COSTS AND REMUNERATION OF KEY MANAGEMENT PERSONNEL 2024 2023 Wages and $818ries EmployeRs Pension costs Social sectty costs 210.983 231.383 7.036 8.978 19.024 23.584 237.043 263.945 The Museum gratefully 8 Significant amount of voluntary help during the year. The Chaiity also benefits from staff costs and building wunning costs {unquantfiablè in totall pald for by the Ministy of Def&nce. as part oftheir tribUtIon to Corps Heritage and esptit de ws. Onè empknye¢ eamed In ox(ss of£60,0(Xl pei annum12023." none). aff numbe There werè 6 pem)anent and 1 temporary employees in 2024 (2023: 8 pern78nent 8 I ternporary}. Thes8 numbers refted the reduMlancie8 at tho 8nd of 2023. Remun6 ofke nt nel Aggregate employee costs of key managemonl pwsonn81. the director Mr RN Kendal1-Caonter, wèrè È81.934 (2023.. £78.234). 13
THE ROYAL SIGNALS MUSEUM IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCtAL STATENIENTS FOR THE YEAR ENDEO 31 DECEMBER 2024 8 TANGIBLE FIXED ASSETS Fixlures and Fitttngs Display assets useum Building Tolal Cost At 1 Jarnjary 2024 Addth"ons in the Ye 184.605 308.787 1.043.(KJ2 1.536,394 6.200 At 31 December 21r24 184,805 314.787 1,043,CX)2 1.542,594 Accwnulated depwalion Al 1 JanuaFy 2024 Depre(iation forlhe year 168.778 6.324 298.780 726.640 15.818 1.194,198 28.126 At 31 Decernber 2024 175.102 304.764 742.458 1.222.324 Net book value At 31 December 2024 Al 31 December 23 9,703 15,827 10.023 10,007 300,544 316.362 320,270 342.198 The Museum Burfding is subl¢ct to negotiation of a legal lea6e wth thè Mini$try of Defence, which could impairthe value of th• building. see note 11. 9 HERITAGE ASSETS Heritage assèts arè not capit8llsed in (he finana81 ststements in accordance wih the accoynting policy disdosed in Note 1h. Th have an apprtiximale insurance v8lub of £1.100,CW. thls Indudes A&sets acqulred in past accwnting periods. The TrustÈèÈ nSider the eo81 of carying out 8 piofesswjnal valuation to indude these assets at a valug In the financtal statements to be consider8bJe compared to thè limited acklitional benefft dertved ty the u$ers of Ihe financial st8ternents. 10 INVESTMENT IN SUBSIDIARY 2024 2023 The Royal Sawa16 Museum Tiading Company Limiled Register6d Thjmber.. 03685523 This iepresents I% ofthe sh8r6 capital. The prindpal activity of that Comp8ny is the operatlon of the MLFseum's strK>P. Ils traditw rÈBults for the year, as oxtr8ded from the finHwK481 statements. ate as follows: 2024 2023 Tumover Cost of Sales Staff costs Govemment grants Deplson Other charges Taxalion Grfl Aid donation Net ILos8yPTofrt Share Capital Shareholdevs D8fi(it 63.724 (48.712) {6.622) 67.582 151.343) {8.599) (139} (6.155) (170) (7,240) 2,096 8.138 {tO,233 14
THE ROYAL SIGNALS MUSEUM IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11 DEBTORS 2024 2023 Amounts due Irom Subsidiary Amount due from Rel8ied Charity Other Debto Prepayments 63.339 82.7 7.121 27.486 124.256 153,250 160.418 The afflourrt due from the subsidiary Is repayable upon demand and caftiès inieTest al 1¥• {1% in 20231. 12 CREDITORS- P4nount lalling due within one year 2024 2023 Trade Credttor Social Sewrty and Othèr Taxes Accruals and Provisions Detstred Incoma 3.112 5,799 79.267 20.366 4.420 10.323 65.310 20,888 108,544 100.941 13 UIIRESTRICTED FUNDS 1 J8rNJary 2024 Movernenls in Year Transfers Expenditure 31 Dmber 2024 Designated Asset Funds Fixed Asset Fund Other Assèts Fund 285.786 9.066 (18.327) 12.041) 120.368} {194,3221 14.690 287.459 294.8S2 2(6.820 501.672 Gen8ial Fund 274,484 195.517 470,001 183,019 183.019 1 January 2023 Movernents in Year Tfansfgrs Expenditure 31 Decèmber 2023 Designated Assgl Funds Fixed Asset Fund Oth&rAsseis Fund 300,827 10.602 311,429 257.082 568.511 115.041) (2.041) 117.0821 (246,8461 .928 285.786 9.066 General Fund 294.852 206.820 501.672 196,584 197.089 Deslgnatgd Asset Funds The A68el Fund$ represent tho deprect8teil a88et valuea thal have been fijnded by extemal Gr18 and Donations. and are adlustei£ by Ihe annual depwiation charges. Fixed AssÈt Fund- the deprerAated value of th& museum builrlrng and its fL%tures and fitting&. Olher Assets Fund- other assets which have been capitalised at cost or valuation (if donated). G¢neral Fund This is the tokl of UnCltted accumulatad Èurpluses and defioats from ptior periods. 15
THE ROYAL SIGNALS MUSEUM {A COMPANY LIMITED BY GUAFiANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14 RESTRICTED FUNDS 1 January 2024 Movetnents in Year Ex nditure 31 De(mb81 2024 IAedal Gall8ry Rèfurbtshmenl Project Exhibition GrÈrts and Donalw)n Gr8nt in Aid 1,135 1.135 2,000 2.500 80.817 83.317 (S} 180.817) {81.317) 1.135 3,135 1 Janvary 2023 Movernenls in Year Irwme Expenditura 31 D8cetnber 2023 M&d81 Gallery Refurbishmerrt Proffioct Outrèach Radio T¥ailor STEM Prosed equlprllent Giant in Aid 1.135 1.135 233 (7331 {5,0) 175,5051 81.2381 75.505 8.635 75.738 1.135 Medal Gallery Refvrbishment Project Donations received fwthe Medal Gallery Refurt)ishmÈnt Projed. Grant in Aid Grants to coverw)mg payroll cosls aThJ MuSM enhancements. IS RELATED PARTY TRANSACTIONS 2024 2023 The Chwity 18 related to Thè Royal Stgnals Museum Tr8ding Ccrfnpany Limited, its subsidiary. At the year end 1he arnount receivable amounted to 63.339 The movement in this debt consisted of the net effect of both recet5 and paym8nls by each Company on behalf ofthe other. and Indud.. Provision for slow ry1ng and redundant shop stock Increase 8rising from intet due from thè Tr8ding Company Charitable Donatton from the Trading Comp8lly b The Charity ts afso related &) the Royal Signals Chariiy (an unincorFNated chatity) due to their Telated obledlves and activities. At the yearend the a1 reCeN8b amounted to 1.870 82.79D 124256 DuJiThJ the yeai grants receivable amountsd to 131.000 131.(#]O 18 ALLOCATION OF NET ASSETS The restricted 01 £3,13512023'. £1.135} were held as cash balèr$ and Ihe unreslfjcted funds are represent•d by all the Olher as5e¢s and liabilities. 16