Company Registration No. 7215941 (England and Wales)
Charity Registration No. 1136034 (England and Wales)
IMPERIAL WAR MUSEUM FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PDF created with pdfFactory Pro trial version www.
dffacto
.com

Imperial War Museum Foundation
Report of the trustees
For the year ended 31 December 2024
The trustees of the Imperial War Museum Foundation ("the Foundation") present their annual
trustees, report together with the financial statements of the charity for the year ended
31 December 2024 which are also prepared to meet the requirements for a directors, report and
accounts for Companies Act purposes.
The financi81 statements comply with the Charities Act 2011, the Companies Act 2006, the
Memorandum and Articles of Association, and Accounting and Reporting by Charities:
Statements of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102).
Our purpose and activltles
The trustees have referred to the Charity Commission's guidance on public benefit when
setting the aims and objectives of, and in the planning of f uture activities of, the Foundation. In
particular, the trustees have considered how planned activities will contribute towards the
aims and objectives they have set.
The main activities and aims of the Foundation are set out below. All the Foundation's
charitable activities are undertaken to further its charitable purposes for the public benefit.
The objects of the Foundation are the advancement of:
the education of the public in the nature, perception, history 8nd impact of modern war
and peoples, experience of war; and
the arts, culture, and heritage related to war and war-time experience, in particular
promoting or supporting such of the charitable objectives of the trustees of the Imperi81
War Museum as the trustees of the Foundation determine from time to time.
Achlevements and performance
During 2024, a donation of £37,500 was received towards the unrestricted funds.
Fundraislng Policy
Fundraising is a standing item at each Foundation board meeting, of which there are two
annually. A progress report is provided to trustees at meetings by IWM'S Director of
Development. Where introductions or approaches to people known to trustees are agreed,
IWM'S Director of Development prepares draft letters, as required, for the relevant trustee. All
follow-up is then undertaken bythe IWM Development team in liaison with individual trustees.
Pa
PDF created with pdfFactory Pro trial version A. dffacto
.com

Imperial War Museum Foundation
Report of the trustees
For the year ended 31 December 2024
The Imperial War Museums, Development Team who inform and support the fundraising
activities of the Foundation, as part of the operating agreement held with Imperial War
Museum, is committed to work to a best practice framework and are members of the Institute
of Fundraising. The team do everything possible to meet the needs of potential supporters and
protect vulnerable people. In particular, they comply with the Code of Fundraising Practice and
all relevant data protection laws. No instances of non-compliance have been identified during
the year.
As part of using IWM'S Development team to support the Foundation's fundraising activities,
the Foundation trustees approve all fundraising communication prior to signature and
dispatch.
The Charity aims to respond to all complaints individually and in a timely manner. All
complaints inform and influence our approach to fundraising. During the year, the Foundation
were not notified bythe Charity Commission of any complaints.
Flnanclal Review
Assessment of golng concern
The trustees have assessed whether the use of the going concern assumption is appropriate In
preparing these financial statements. Having reviewed the financial position, and the forecast
for 2025-26, the trustees consider that there are no material uncertainties about the charity's
ability to continue as a going concern for 12 months from the date of the signing of these
financial statements
Reserves policy
The trustees, policy is to maintain a level of reserves which will provide a stable base for its
continuing activities while atthe same time ensuring excessive funds are not accumulated.
The Balance Sheet shows the total fund balances of £46,961 as at 31 December 2024, which
are all unrestricted funds. The trustees consider this amount to be sufficient to cover the
unrestricted expenditure for 2025 and 2026.
Plans for future periods
At the October Board Meeting, the Board members agreed that the key funding focus for the
Foundation would be for the Spitfire Hangar Exhibition, an integral part of the Duxford
Masterplan.
As such, Trustees considered the need for a new member on the Foundation Board who is well
networked amongst historic aviation enthusiasts.
An overview of conversations held with a prospective new Foundation Board Chair was
discussed with Lord Rothermere and the wider Board members expressing support for
8pproachingthe individual with an invitation to join as the new Foundation Board Chair.
Page 2
PDF created with pdfFactory Pro trial version w4vw.
dffaclo
.com

Imperial War Museum Foundation
Report of the trustees
Forthe year endèd 31 December 2024
Reference and administrative details
Charity Registration number
1136034
Company Registration number
7215941
Registered off ice
Imperi81 War Museum
Lambeth Road
London SE16HZ
Our advisors
Bankers
C. Hoare & Co.
37 Fleet Street
London
EC4P 4DQ
Lawyers
Reynolds Porter Chamberlain
Tower Bridge Hous8
St Katharine's Way
London
E1W1AA
Dlrectors and trustees
The directors of the charity are its trustees for the purpose of charity law. The trustees and
officers serving during the year and since the year end were as follows.
Patron
HRH The Prince of Wales KG KT ADC
Trustees
Viscount Rothermere (Chairman)
Lord Black of Brentwood IHonoraryTre88urerl
Mr Richard Caring
Dame Vivien Duff ield DBE
Lord Guthrie of Craigiebank GCB LVO OBE DL
MrAlexander Spencer Churchill
Mr Henrywyndham
HonoraryTrustee
Peter Harrison CBE
Secretary
Mrvyvyan Harmsworth LVO
Page 3
PDF created with pdfFactory Pro trial version www.
dffacto
.com

Imperial War Museum Foundation
Report of the trustees
For the year ended 31 December 2024
Structure, Governance and Management
Governlng Instrument
The Imperial War Museum Foundation ("the charity") was incorporated as a company limited by
guarantee with a Company Registration number 7215941 on April 7 2010 and registered as a
charity with the Charity Commission with charity number 1136034 on 20May 2010.
Appolntment of trustees
The trustees of the Imperial War Museum Foundation I'the charity") comprise the only
members of the charity under the Companies Act. The trustees of the charity may at any time
appoint any person duly qualified to be appointed to fill a vacancy in their number. The number
of trustees of the charity are limited to 15 at any one time.
Organlsatlon
The trustees are responsible for the policies, activities and assets of the Foundation. The
trustees will hold at least two meetings a year to review the developments with regard to the
Foundation and make any important decisions. When necessary, the trustees will seek advice
and support from the charity's professional advisors including its bankers and auditors. The
charity is supported by an operating agreement set up with the trustees of the Imperial War
Museum for service provision in respect of fundraising and administration services. Thls
agreement has been entered into on an arms length basis. The over811 management and
control of the Foundation remains with the trustees of the Foundation and no management
function is provided by way of this agreement. The statutory books of the Foundation are held at
th8 registered office.
The role of the trustees is to support the achievement of these charitable objects. In doing so,
trustees will oversee the management of funds invested by the Foundation and make grants to
fund activities and projects that fulfil the objectives.
Key management personnel
The charity has no employees and is run on a voluntary basis by the trustees and by way of an
operating agreement with Imperial War Museum. The key management personnel of the charity,
in charge of directing and controlling the charity, comprise the trustees. The total remuneration
paid to the key management personnel duringthe yearwas £nil12023- £nill.
Related partles
None of our trustees received remuneration from their work with the charity during the year
{2023- none).
Connected charltles
There were no connected charity transactions during 2024 (2023- £nil).
Pa
PDF created with pdfFactory Pro trial version A. dffacto
.com

Imperial War Museum Foundation
Report of the trustees
For the year ended 31 December 2024
Rlsk Management
The trustees have assessed the current risks to which the charity is exposed and are satisfied
that by monitoring reseNe levels and by examiningthe operational and business risks faced by
the charity that they are able to mitigate any potential risks that may arise by ensuring that
effective controls exist over key financial systems. A risk registerwas set up in 2019 which
the trustees discussed and considered the risks towhich the Foundation may be exposed.
Prlnclpal rlsks and uncertalntles
Trustees will continue to monitor the finances on a regular basis at their board meetings.
Trustees, responsibilities in ralatlon to the financlal statements
The charity trustees (who are also directors of the Imperial War Museum Foundation for the
purposes of company lawl are responsible for preparing a trustees, annual report and financial
statements in accordance with applicable law and United Kingdom Accounting standards
{United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year
which give a true and fair view of the state of affairs of the charitable company and of the
income and expenditure, of the charitable companyfor that period.
In preparingthese financial statements, the trustees are required to:
select suitable accounting policies and then applythem consistently;
obseNe the methods and principles of Accounting and Reporting by Charities: Statement
of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the United Kingdom and
Republic of Ireland (FRS 1021;
make judgements and estimates that are reasonable and prudent:
state whether applicable United Kingdom Standards have been followed, subject to any
material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with
reasonable accuracy at any time the financial position of the charitable company and enable
them to ensure that the financial statements comply with the Companies Act 2006. They are
also responsible for safeguarding the assets of the charitable company and hence for taking
reasonabl8 Steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial
information. Legislation in the United Kingdom governing the preparation and dissemination of
financial statements may differ from legislation in other jurisdictions.
Pa
PDF created with pdfFactory Pro trial version A. dffacto
.com

Imperial War Museum Foundation
Report of tha trustees
Forthè year ended 31 December 2024
Each of the trustees confirms that:
so far as the trustee is aware, there is no relevant audit information of which the charity's
auditor is unaware: and
the trustee has taken all the steps that he or she ought to have taken as a trustee in order
to make himself or herself aware of any relevant audit information and to establish that
the charity's auditor is aware of that information.
This confirmation is given and should be interpreted in 8ccordance with the provisions of $418
of the Companies Act 2006.
The directors, report has been prepared in accordance with the special provisions as set out in
Financial Reporting standard 102 section 1A and part 15 of the Companies Act 2006 applicable
to small companies.
Approved by the trustees and signed on their behalf by:
Page 6
PDF created with pdfFactory Pro trial version www.
dffacto
.com

Imperial War Museum Foundation
Statement of Financial Activities
For the year ended 31 Decemb8r 2024
Unrestrlcted
Funds 2024
Unrestrlcted
Funds 2023
Note
Income from:
Donations & Gifts
37,526
644
Total
37,526
644
Expendlture on..
Charltable Actlvltles
Support Costs
5,888
420
Total
5,888
420
Net Income
31,638
224
Net movement In funds
31,638
224
Total funds brought forward
15,323
15,099
Total funds carried forward
46,961
15,323
All recognised gains and losses are included in the statement of financial activities.
The results for the above two periods relate to continuing operations.
The notes on pages 10 to 13 form part of these financial statements.
Page 7
PDF created with pdfFactory Pro trial version ￿vw.
dffacto
.com

Imperialwar Museum Foundation
Balance Sheet
As at 31 December 2024
Total
Unrestrlcted
Funds 2024
Total
Unrestrlcted
Note
Funds 2023
Current Assets
Cash at bank and in hand
46,961
19,373
46,961
19,373
Creditors: amounts falling due within one year
{4,0501
(4,0501
Net current assets and net assets
46,961
15,323
Represented by:
Funds
46,961
15,323 1
The notes on pages 10 to 13 form part of these financial statements.
Trustee
Company registration number: 7215941
Page 8
PDF created with pdfFactory Pro trial version www.
dffacto
.com

Imperial War Museum Foundation
Statement of Cash Flows
for the year ended 31 December 2024
2024
2023
Note
Cash flows from operatlng activities:
Net Cash from Operating 8Ctivities
27,588
224
Change in cash and cash equivalents in the year
27,588
224
Cash and cash equivalents at the beginning of the year
19,373
19,149
Cash and cash equivalents at the end of the year
46,961
19,373
A Reconclllatlon of net Income to net cash flowfrom operatlng actlvitles
2024
2023
Net income l {expenditure) as per Statement of financial activites
31,638
224
Adjustments for:
Decrease in creditors
(4,050)
Net cash from operating activities
27,588
224
2024
2023
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents
46,961
19,373
C No separate reconciliation of net debt has been prepared as there is no difference between the net cash
{debtl of the Trust and the above cash and cash equivalents.
Page 9
PDF created with pdfFactory Pro trial version www.
dffacto
.com

Imperialwar Museum Foundation
Notes to the Financial Statements
Forthe year ended 31 December 2024
Accounting policies
Basls of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) - (Charities SORP FRS
102), the Financial Reporting standard applicable in the UK and Republic of Ireland {FRS 1021 including
section 1A of FRS102 and the Companies Act 2006.
Imperial War Museum Foundation meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise Stated in the relevant
accountino Dolicv notelsl.
Assessment of Golng Concern
The Trustees have assessed whether the use of going concern assumption Is appropriate in preparing these
financial statements. The Trustees have made this assessment in respect of a period of one year from the
date of aporoval of these financial statements.
These financi81 statements have been prepared on a going concern basls. The unrestricted funds of the
charity are considered by the Trustees to be sufficient to cover the charity's fixed operatlon81 costs until
rJp.r.AmhAr ?n?R.
The Trustees are confident that the charity will be able to meet its liabilities as theyfall due for the foreseeable
future and have plans to ensure that the charity can build up its reserves to an acceptable level. For this
reason the fin8ncial statements have been prepared on a going concern basis.
The financial statements are presented in sterling and are rounded to the nearest pound.
Crltlcal accounting estimates and areas of judgements
Preparation of the financial statements requires the trustees and management to make significant
iudAements and estimates.
The trustees and management are of the opinion that there are no areas of significantjudgement or
estimation within these financial statements.
Page 10
Imperialwar Museum Foundation
PDF created with pdfFactory Pro trial version www.
dffacto
.com

Notes to tha Financlal Statements
For the year to 31 December 2024
Donations and gifts
Donations are recognised when the charity becomes legally entitled to the funds. any restrictions attached to
the itemlsl of income have been met. it is probable that the income will be received and the amount can be
reliably measured.
Interest receivable
Interest on funds held on deposit is recognised when the charity becomes legally entitled to the funds, it is
probable that the income will be received and the amount can be measured reliably by the charity& this is
normally upon notification of the interest paid or payable by the bank.
Fund accounting
Unrestricted funds are funds which can be used in accordance with the charitable objects at the discretion of
the trustees. Restricted funds are those funds which have been restricted by restrictive conditions imposed
by the donors or by the purpose of the appeal. No restricted funds wer8 held by the Foundation during 2024
12023 £nill.
Expendlture and Irrecoverable VAT
Expenditure is r8cognised on an accruals basis in the period in which they 8re incurred. It includes related VAT
which can not be recovered. All expenses are allocated to the applicable expenditure headings
Liabilities are recognlsed as expenditure as soon as there is a legal or constructive obligation committing the
charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required
in settlement and the amount of the oblioation can be measured reliablv.
Expenditure is classif led under the f ollowing headings:
a. Raising funds comprise the costs of fundraising events for prospective donors.
b. Expenditure on charitable activities comprises grants made to Imperial War Museum.
c. Support costs represent indirect charitable expenditure. In order to carry out the primary purpose of the
charity, it is necessary to provide support in the form of personnel development, financi81 procedures,
Drovision of office and eauiDment and a suitable workino environment.
Taxation
The company is a registered charity No. 1136034. and is not liable to United Kingdom income tax or
corporation tax on its charitable activities.
Page 11
Imperialwar Museum Foundation
PDF created with pdfFactory Pro trial version www.
dffacto
.com

Notes to the Financial Statements
Forthe year to 31 Decembor 2024
Debtors
Debtors are recognised at their settlement amount, less any provision for non-recoverability, they have been
discounted to the present value of the future cash receipt where such discounting is material.
Cash at banl(and in hand
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a
maturity of less than three months from the date of acquisition.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will
probably result in the transfer of funds to a third party and the amount due to settle the obligation can be
measured or estimated reliably. Creditors are recognised at the amount the charity anticipates it will pay to
settle the debt.
Legal status of the Foundation
The Foundation is a company limited by guarantee and has no share capital.
1 Income from Donatlons and glfts
Includes the following amounts:
Total Funds
2024
Total Funds
2023
Donations
37,526
644
2 Expendlture on
Total Funds
2024
Total Funds
2023
Expendlture on Charitable actlvlties
Operating agreement fees
Other costs
Auditor's remuneration
Statutory audit
Other services
900
758
420
1,020
3.210
5,888
420
5,888
420
Page 12
Imperialwar Museum Foundation
• PDF created with pdfFactory Pro trial version www.
dffacto
.com

Notes to the Financial Statements
Forthe yearto 31 December 2024
The charity has no employees and is run on a voluntary basis by the trustees and by way of an operating
agreement with ImDerial War Museum.
The trustees received no remuneration for their services during the ye8r12023 - £nil). No trustee received
reimbursements for expenses during the year.
The key management personnel of the charity, in charge of directing and controlling the charity, comprise the
trustees. The total remuneration paid to the key management personnel was £nil (2023- £nil).
3 Credltors
Total Funds
Total Funds
2023
2024
Accruals
4,050
4,050
4 Connected Charities
Imperlalwar Museum
During the year, Trustees approved grants of £nil (2023: £nil) to Imperial War Museum.
5 Restricted Funds
No restricted funds were held in 2024 (2023- £nll)
Page 13
PDF created with pdfFactory Pro Irial version www.
dffacto
.com