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2020-10-31-accounts

Trustees’ Annual Report for the period

From 1 Nov 2019 Period start date To 31 Oct 2020 Period end date Charity name: The Bentley Priory Mansion House Operational Endowment Fund

Charity registration number: 1138628

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 The trustees must apply the income of the
Charity in furthering the following objects:
to provide financial support to the operation
of a museum at Bentley Priory which
advances the education of the public in the
history of the mansion house site and in the
history and development of aviation,
science and engineering, the history of the
Battle of Britain and the preservation of part
of Bentley Priory as a memorial to those
who served in the RAF and in particular
(but not exclusively) during the Battle of
Britain.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 The financial support from the Endowment
Trust forms a fundamental part of the
Museum Trust’s business plan. The
Trustees of the Endowment Trust seek to
fulfil the objective of “providing financial
support to the operation of a museum at
Bentley Priory” to the greatest level of
support permitted.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 The Trust’s public benefit it vested in
ensuring that the museum can stay open to
the public and accessible to a broad
audience. It is very difficult to raise funds
to meet the costs of the routine activity that
is essential when running a facility open to
the public. Without funding from the
Endowment Trust the Museum would have
to charge vast entrance fees, which would
mean that the important stories of Bentley
Priory and the Battle of Britain would only
be open to the wealthy. Alternatively, the
museum would be unable to operate as a
sustainable ongoing concern and would
have to close. This was particularly

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important during the Covid pandemic when the Museum had to close and generation of income from visitors was very much reduced. Trustees have had regard to the guidance issued by the Charity Commission on public benefit.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 The endowment funds of £2.6M were given
to the Trust in Sep 2012. Following a
comprehensive competitive process and
professional advice the funds have been
split between 2 investment fund managers.
These arrangements have remained in
place during this reporting period. Despite
volatility in the market in the latter part of
the reporting period the Trust has made
available £75,000 to support the Museum
Trust in its work.
Impact of Covid 19 Pandemic
On 18 March 2020, in line with Government
instructions, Bentley Priory Museum closed
its doors to visitors, with non-essential
businesses instructed to close and the
country entering lockdown on 23 March.

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Museum staff were placed on furlough, with minimum essential staff cover provided through rotation of furlough in accordance with Government Guidance, by staff working from home when possible. This ensured the Trust made best use of its resources whilst also meeting the obligation to take care of the grade 2* building through essential checks and maintance. In addition, staff offered support to the Museum’s 100+ volunteers and to continue virtual visitor engagement online, this included talks, family activities and quizzes. The Trust also continued to develop its National Lottery Heritage Fund funded Bunker Project through virtual research and remote interviews. As the first lockdown lifted, Bentley Priory Museum reopened on 18 July 2020 in accordance with Covid-19 safe guidance. The measures included; restricting visitor capacity through pre-booked tickets, social distancing measures, increased cleaning, and changes to its Café menu and operation. In response to significantly lower volunteer availability, the Museum opened two days a week (reduced from 4 days a week, with 2 days reserved for large group visits and Schools). Staff on the newly introduced partial furlough scheme option, were placed in front of house positions in response to decreased numbers of volunteers available and greater front of house support needed with new Covid-19 measures in place. As the UK entered its second lockdown, the Museum closed its doors on 4 November until 2 December, and temporarily opened from 5 December to 12 December 2020, which included a successful ‘Meet Father Christmas’ event for families. As the UK entered geographical tiered restrictions and its third lockdown, the Museum closed its doors for the remainder of 2020 (before re-opening on 19 May 2021, in accordance with Government restrictions on Museums’ operations). Financial Impact of Covid-19 The financial impact of Covid-19 has been significant; with an estimated loss of £144, 000 Museum income from admissions, the Café, shop and venue hire whilst closed during 3 periods in 2020. AS well as lost visitor income, instability within the financial markets due to Covid-19 impacted returns

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on the Endowment Trust. Consequently, Endowment income was reduced by quarter from the anticipated £100,000 to £75,000. Museum Staff and trustees worked together to reduce costs. The furlough scheme offered a sustainable life line to the Museum and was essential during the first lockdown when the Museum’s rateable value prevented application for Government support. During the second lock down the rateable value boundaries for Government support were changed and the museum benefitted from grants made available for hospitality and leisure businesses that were unable to operate during lockdown. - Operational Impact on Museum of Covid 19 Covid-19 has also impacted the Museum’s operational infrastructure, with its front of house reliant on volunteers, usually from an older, retired demographic due to Museum opening hours. One volunteer died from Covid-19 at the start of the pandemic, and many volunteers have left the Museum due to existing health conditions where Covid-19 poses too much of a threat despite vaccination. With the Museum closed for much of 2020, volunteer recruitment to replace these volunteers was placed on pause and not able to re-commence until May 2021. Museum Achievements and Performance Audience Engagement & Development Despite Covid-19, when the Museum was able to open, 3369 visitors were welcomed in 2020, which included 300 school students. (To highlight the impact of Covid19, in 2019 the Museum welcomed over 10,000 visitors, 1159 of which were students). Being able to open between July – October 2020, enabled the Museum to engage many families over the summer holidays, who participated in a glider activity, on socially distanced tables in the Museum’s Learning Centre. It also enabled the Museum to commemorate the Battle of Britain period, with its annual Commemorative Day in September able to proceed, but with limitations on visitor numbers and social distancing in place. The Museum’s successful Friday Morning

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Talks programme continued during the open periods, with reduced numbers of talk attendees to meet Covid-19 guidelines and the talk repeated in the afternoon to allow more attendees. In November, the Museum hosted an Online Quiz Cabaret raising morale and funds for the Museum. The delivery of the Libor project continued, with reduced staff capacity and outputs during Covid-19, with elements of gallery enhancement being completed, such as the installation of new interpretation panels in the Operations Room and the repair of the original Operations Clock for display. The Museum secured £68,500 from the National Lottery for Heritage in March 2020 to deliver a heritage project to discover the secret history of the site’s bunker. The ‘Bentley Priory’s Battle of Britain and Cold War Bunker. Defending Britain from Nazi and Nuclear Threat’ project commenced in April 2021, and whilst Covid-19 pushed the project to remote communications and working, the project successfully recruited 17 volunteers, interviewed 20 former WAAF & RAF veterans who worked in the bunker, and curated a temporary exhibition which opened to visitors on 3 October 2020, with families doing a bunker inspired activities during October half-term. The project critically gave project volunteers and participants focus and escapism during a challenging year: “I’ve loved the project and I’d like to think I’ve made some great new friends. This really has been one of the most rewarding experiences to come out of lockdown!” Due to Covid-19, the project was extended and the permanent interpretation at the bunker, and creation of Secondary Schools and Early Years families pushed back, to 2021. Volunteers While volunteer support has always been invaluable to the Museum, volunteers have highlighted how critical Museum staff support of them became during lockdown, with many shielding on their own. The Museum supported volunteers through regular phone calls, online volunteer gatherings and quizzes to ensure socialisation and reduce isolation, and shopping and pharmacy trips where required. When the Museum re-opened in between lockdowns, 28 volunteers felt confident in returning to front of house roles in 2020,

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and 12 volunteers continuing to maintain the beautiful Grade II listed Italian Gardens. Covid-19 essentially placed volunteer recruitment on pause for the majority of 2020. Despite the reduction of Endowment income due to market instability the £75 K the Endowment transferred to the Museum was vital in securing the ongoing survival of the Museum during a challenging year.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against
objectives set		 Para 1.41
Performance of fundraising
activities against objectives
set		 Para 1.41
Investment performance
against objectives		 Para 1.41 The investment objectives set by the
Trustees and which form the basis of the
instructions to the two fund managers are:
•
Preservation of the initial capital
•
Generation of sufficient income and
capital growth to meet the planned
transfer to the Museum Trust
•
Sufficient additional growth in the
underlying capital to ensure the
long-term viability of the Trust
The first of these two objectives were fully
met with the original capital transfer
preserved and the majority of the planned
transfer to the Museum Trust achieved. The
underlying aim of growing the capital by
CPI, has continued to be n adopted as a
measure by the Trustees, over the period of
the report, however, there still remains a
shortfall over the seven year life of the
Trust and it remains the Trustees long-term
objective to fully achieve this objective.

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Other

Financial Review

Financial Review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 At the end of the period of this report the
Trust retained a sound financial position
with a proven investment policy which has
permitted it to fully support the Museum
Trust whilst also meeting its capital
retention requirements. It is intended to
continue with these policies in order to
permit its objectives to be met in the
forthcoming period.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 In accordance with the Trust’s deed
Trustees must not spend any of the original
capital from the endowment, However, in
line with the approved Total Return Policy
dated 12 February 2014 they may use both
income and capital growth to support the
Museum. The Trust has continued to
closely monitor the return on the initial
investments and has ensured that
appropriate measures are taken to protect
the initial capital and to ensure that the
Trust is able to fulfil its obligations in the
future.
During the period of this report the return
on the investments was a loss of £31,197
and £50,000 was provided to the Museum
Trust to support its activities. Management
costs for the investments were £24,895.
Bank charges totalled £60 and governance
costs were £600. Thus, the total return
contributes to meeting the objective of
increasing the value of the funds invested
in line with the Consumer Price Index, thus
contributing to the long-term viability of the
Trust.
The Trustees will continue to pursue this
objective in order to protect the long-term
viability of the endowment to meet its
objectives.
Amount of reserves held Para 1.22 0
Reasons for holding zero
reserves		 Para 1.22 The Trust maintains a capital with a value
of £2.6M so reserves are not required.
Details of fund materially in
deficit		 Para 1.24
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s principal
sources of funds (including
any fundraising)		 Para 1.47 Trustees confirm that they have referred to
guidance contained in the Charity
Commission’s general guidance on public
benefit when reviewing the Trust’s aims
and objectives and in planning the award of
grants to the Bentley Priory Battle of Britain
Trust.
The Trust was established under planning
obligations laid down by the LB Harrow in a
Planning Obligation document (S106) in
Sep 2014 to ensure sustainability of the
Bentley Priory Museum. The Museum is
located within a Grade II* listed building
known as Bentley Priory. The Museum
Trust holds a 60-year lease on the
historically significant part of the building.
The S106 also contained provision for the
developer of the overall Bentley Priory site
to provide, on the signing of the lease, the
sum of £2,600,000 to establish a “Heritage
Facility Fund” to assist the trustees of the
Bentley Priory Battle of Britain Trust (The
Museum Trust) to fulfil its objectives to
create and maintain the Museum.
The S106 stipulates that this sum of money
is to be “disbursed on the basis that the
income only will be made available to the
nominated operator [of the museum] and
will be used solely towards the operating
costs of the heritage facility”. The S106
further stipulates that the Heritage Facility
Fund remains attached to the building itself
and does move with the museum operator.
The responsibility for managing this fund
lies with this charity known as ‘The Bentley
Priory Mansion House Operational
Endowment Trust’. The funds were
transferred to the Endowment Trust on 8
September 2012.
The financial support from the Endowment
Trust forms a fundamental part of the
Museum Trust’s business plan. The
Trustees of the Endowment Trust seek to
fulfil the objective of “providing financial
support to the operation of a museum at
Bentley Priory” to the greatest level of
support permitted.
Trustees have worked to ensure best
possible investments to support the work of
the museum whilst ensuring capital is
preserved and grows with inflation and to

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ensure that the provisions of the Charity
Commission Order dated 12 February 2014
are observed.
The financial support given to the Museum
is essential to the day-to-day operations of
the museum. The planned support of £100
000 per annum is approximately 50% of the
museum’s regular annual income. The
donation from the Trust is used to pay
museum staff and for routine costs such as
utility and maintenance contracts.
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46 The endowment funds of £2.6M were given
to the Trust in Sep 2012. Following a
comprehensive competitive process and
professional advice the funds have been
split between 2 investment fund managers.
These arrangements have remained in
place during this reporting period.
A description of the principal
risks facing the charity		 Para 1.46 Investment Objectives and Risk
The Trustees must apply the income of the
Fund in furthering the following objectives
(“the Objectives”): to provide financial
support to the operation of a museum at
Bentley Priory which advances the
education of the public in the history of the
Mansion House site and in the history and
development of aviation, science and
engineering, the history of the Battle of
Britain and the preservation of part of
Bentley Priory as a memorial to those who
served in the Royal Air Force and in
particular (but not exclusively) during the
Battle of Britain.
The Trustees will not spend any of the
Capital of the Fund in furthering these
Objectives.
The asset strategy should seek to maintain
the principle capital of the Fund using
appropriate investment vehicles.
Additional investment objectives are to:
Preserve capital;
Invest prudently;
Maximize investment return;
Mitigate inflation
The Trustees delegate the day-to-day
management of its assets to professional
investment advisers.
Other

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Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document
(trust deed, royal charter)		 Para 1.25 Trust Deed
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 Charitable Trust
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 There must be at least 2 trustees with no
upper limit on numbers. Two trustees of
the Charity at any time must be members
or employees or nominees of Harrow
Council. Other trustees must be appointed
by a resolution of trustees passed at a
special meeting.

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction Para 1.51 and training of trustees The charity’s organisational structure and any wider Para 1.51 network with which the charity works Relationship with any related Para 1.51 parties Other

Reference and Administrative details

Charity name The Bentley Priory Mansion House Operational Endowment
Fund
Other name the charity uses
Registered charity number 1138628
Charity’s principal address Wendleberie, Moor Common
Lane End
Bucks
HP14 3HS

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Names of the charity trustees who manage the charity

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2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
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18
19
20		 Trustee name Office (if any) Dates acted if not for whole
**year **		 Name of person (or body) entitled
to appoint trustee (ifany)
Keith Ferry LB Harrow
Leslie Powell
Richard Romain Resigned 31 December
2020
Clive Bairsto
Norman Stevenson Chair LB Harrow

– Corporate trustees names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

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Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity

Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

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Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)
Full name(s)
Position (eg Secretary,
Chair, etc)
Date
Norman Stevenson

Chair
31 Aug 2021
31 Aug 2021

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Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ members of

Charity Name The Bentley Priory Mansion House Operational Endowment Trust

On accounts for the year 31 October 2020 Charity no 1138628 ended (if any) Set out on pages 1 to 17

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 October 2019.

Responsibilities and basis of report

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

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Independent I have completed my examination. I confirm that no material matters have come examiner's statement to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Date: 27 August 2021 Signed: Name: Christopher Whiteley Relevant professional Member of the Institute of Chartered Accountants (SA) qualification(s) or body (if any): Address: 93 New Road, Marlow Bottom, Bucks, SL7 3NN

Section B Disclosure

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

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Give here brief details of any items that the examiner wishes to disclose .

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The Bentley Priory Mansion House Operational Endowment Fund The Bentley Priory Mansion House Operational Endowment Fund The Bentley Priory Mansion House Operational Endowment Fund The Bentley Priory Mansion House Operational Endowment Fund The Bentley Priory Mansion House Operational Endowment Fund
Period Ended 31 October 2020
Start Value **Investment ** Management Closing
Balance Income Fees Grants Museum Balance
SG Hambros 1,243,928.00 13,238.00 11,672.00 37,500.00 1,207,994.00
Close Bros 1,535,451.00 (44,435.00) 13,223.00 37,500.00 5,000.00 1,435,293.00
2,779,379.00 (31,197.00) 24,895.00 75,000.00 5,000.00 2,643,287.00
2,648,287.00
TB - 2020
Opening Opening Closing Closing
Balances Balances 2020 Entries 2020 Entries Balances Balances
Dr Cr Dr Cr Dr Cr
Investments 2,779,379 (31,197.00) 104,895 2,643,287
Bank 395 3,750 60 4,085
Creditors 615 10 625
Museum 5,000 5,000 -
Accumulated Funds 2,779,159 2,779,159
Investment Income (31,197.00) 31,197
-
Accountingfees 1,260 1,260
Management fees 24,895 24,895
Bank charges 60 60
Grants 75,000 75,000
2,779,774 2,779,774 78,768 78,768 2,748,587 2,748,587

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