2023-03-31-accounts

Reglstered number: 07602666 Charlty number- 1144182 LklNCOLNSHIRE BOMBER.'COMMAND'MEMORiAL_;_'."-4":.:° GROUP TRUSTEES. REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 'A(G8LKXF* 13111r2023 COPAPANIES m￿JsE

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UNCOLNSHIRE BOMBER COMhlAND MEMORIAL IA comp•ny Ilmited by guarantee) CONTENTS Page R•frrence and admlnlstratfve detalb of the Company. Its Trustees and advlsers Trustees, report Independent auditOf5' rnport on the financlal statements Consolidated stslement of flnanclal activities 10-14 15 Consolldat•d balance sheel 16 Company balance she•t Consolidated staternent of cash flowJ 17 18 Noles to the flnan¢ial statements 19-39

.LiiNCOL.NSHIRE BOMBER COMMAND.,MEMORIAL..- IA'company.limitèd..by.guarantee}￿iIrW'" REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 ￿R¢H 2023 Trustees Mr G Beath"e, Trustee {appointed 30 January 20231 Mrs S E Raine, Trustee lappoinled 3 March 20231 The Baroness Hogg. Trustee Mrs N M Van Der Drift, Chief Exeojtive Mr D Gilbert. Trustee AVM (Retl P A Robinson OBE FRAeS. Trustee ACM Sif M Graydon GC8 CBW FRAeS, Chair Mr S J EIP*ood, Trustee (￿SIgned 27 J8nuary 2023) Mr S T Oufton, Trustee Iresyned 15 Odober 20231 l of the above Iwslees. vtho are also direclcys ol the chJrty for the purp)se$ of company law, held office during the year urKler review. Company registered number 07602666 Charlty registered number 1144182 Registered office Lincdnshiffj Bomber Command Memorial Canwiek Avenue Lincoln Lincolnshire LN4 2HQ Company $ocretsry Mr S Fleming Chief exe¢utlV8 offlcer MTS Nicky Van Der Drift Independent audltOW8 Duncan and Toplts Ath1rt kn"mite(1 Enterprise Way Pinchbe¢k - Spalding Lincolnshire PE11 3YR Page 1

LINCOLNSHIRE BOMBER COMMAND MEMORIAL (A ￿pafiy Ilmlted by guarant￿> TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 21123 The Trustees present their annual report together with the audiled financial statements of the Company for the year 1 April 2022 10 31 March 2023. The Annual reFQrt serves the purposes of bolh a Trustees. report and a directors, report under company law. The Tnjstees confim that Ihe Annual report and financial slatemonls of lh¢ ¢harilabb company compfy with Ihe Current statutory requirements. tho requirements of the charitabl8 company's governing document arKI the provisions of the Statement of Rewmmended Practice ISORPI applicable lo charities prepariThJ therr accounts in accofdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) (effective 1 January 2019). Since the group arKI the Company qualfy as small under section 383 of the Compan*s Act 2006. the Group strategic report required of medium and large companies under the Companies Act 2006 Istralegic Report and D1￿CtOrS, Report) Regulations 2013 has been omi1￿J. Obj•ctiv•s and a¢tiviti•s The Bomber Command project invofved the constntdion of a unique new facility lo commemorate and onsoli(Jale all aspects of the Bomber Command 510ry for aUd￿nCeS across the WOTIJ. This involved the follo￿llg key elements.. Capital Works An Inlerprelation Centre vthich trrings alive the collective hLJnwn stthy of Bomber Command incorporating visitor facilities - A wodd class inleraclive and immersive exhibition An openty accessible arKI in-depth digital archive of those C￿neCted with Ihe Command preserving umants and phologfaphs lo reference and pr¢ynote actess to existing offiaal and personal records and resources across the UK and fvrther afield. - A cornprehensive datsbase of kjsses tr￿ne¢ted Bomber Command providing a Iree-t¢>ac¢ess resource for researchers worldwde. A high-profile landmark memorial of intemaiional arbsb"¢ importan¢e as a focus for individual and collectivè contemplation and remembrance. Prwding the onty place in the workj where all Bomber Command losses are memorialised. - Two landscaped Peace Gardens extending the intwiThlive jOLrmey at tho centre and providing a venue for events and a mutti-purpose communty facilrty. - Two additional Peace Sculptures wrthin the grounds - An amphitheatre for extemal perfom)arKes hA rated accessibl￿ty fa¢ilities A¢ts"vitl8s for engagement - Develop meaningful linkages With other related national attractions, induding the London Bomber Command Memorial, th¢ National Memorial AJbofelum. the Imperial War Museum. Bath ol Britain Memorial and RAF Museums to work to promote UK aviation heritage internalionaljy Continue to develop reLqtTronships with Inlemalional Memoria15 and museums inchJding European and Commonwealth organisations to ¢r05S PFi%nOte and host touring exhibrtions. Promole alliances with all nabons invofved in or affected by Bomber Command ensuring a full and balanced narrative is presenlod. Continue lo develop promotit)nal partnerships with both aviation and other heritage sites and organisalions across the East Midlands to generate a cohesive wsitor offer. Continue to develop relationships with educats.onal establishments ar￿jnd the county and beyond - Continue to develop wth communrty groups an¢J 3$scci8ts"on$ - Continue lo develop partnerships wth other herrtage aitrathions and tourist bodies in the county. Page 2

L.INCOLNSHIRE 80MBER..COMMAND MENIORIAL. (A-coinpaiiy_iiniité<l:by..guaranteel..7.- TRUSTEES. REPORT (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Objectiv¢s and a¢tSvities {¢ontinued) a. ObJe¢tives and aims In setting objeclives and planning for ath"vities. the Trustees have given due consideration lo general guidance published by the Charity Commission ￿lating to public benefii including the gUidan￿'pUbli¢ benefrt.. running charity IPB2)'. b. Slgnlllcant actlvttles During the year the followng activities have been undertaken.. - 92,000 visitors welcomed - Work on the Post-war Digrtal Archive has started with d￿lments and memories b&ng preserved. - Fundraising through events both in house and thfough extemal events - Merchandise sales at the centre. at events and on-line Marketing and PR - Continued population of the dKJrtal afchive wth over 250.000 items and 1921 interviews preserved - CEO continued the Chairmanship of the LEP Visitor Eeonomy Board - We have been gwen the followng awards TnpAdvisor- Awarded Certrficale of Excdlence- May 2023. for the 4th year running Trip Advisor Travellers. Choice Award - 2021. 22 and 23- IBCC now in the lop 10% of attractions gbbally Wisit England Red Visrtor Attracty'on Rosette Visit England Bronze award for 8est Large Visitor Attraction in England Amied Forces Community Covenant Silver award in Employers Recognition stheme Oeslinalion Lincolnshire Gol¢J award for Ethcal, Communty and Sustsinabilty Award YMCA Age Friendly Award TripAdvisor rated 515 from 1.077 re¥￿w$ arKI listed 2nd out of 94 Top Things to L)0 in Lincoln Google reviews - 4.815 wth 2.631 reviews iv. ix. c. Staff Recruited an additional 12 staff - provided training for 19 staff ￿1h 8 different COUT5es and 39 rrKKlules completed. have run 61 events including free children's craft activities. commemorative events and 1940's themed events, plus Virtual Lectures. - have hosted a fvrther 315 extemal events whth indLth a wide rarvJe of COTporale events. coach tours and Veteran gatherings. - have also hosted elhics traning for 486 cadets from RAF Cranwell, this 1$ ongoing. Page 3

LINCOLNSHIRE 8OM8ER COMMAND MEMORIAL (A company Ilmited by guarantee)" TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDEO 31 MARCH 2023 Objèctlves and actlvltles {contlnu•d) d. Voluntse - The Trust 1$ ¢urrenVy W￿Ing with 416 volunteers. from 6 different countries. - Have provlded training for 65 volunteers Have recruited and trained 12 additional tOLf guides Choir and Orchestra volunleets conts.nue to refarse every Iv•YJ weeks at the Centre and perfomi al a minimum of 318CC events a year - Four vdunleer nelworking and social events have been run. - We have had volunteers from 3 drfferent orgaNsatKM)s uwng thwr CSR time to support the propct Achlev•fflents and performance a. Charltable actfvlues During the year the charity has set in motton fiJrther fundraising activities to achieve the above objecb.ves and has been successfijl in attracting dOr￿tionS and irueasing erwment. b. Busines$ activities - An income and experKliture plan is kept updated with VISrt￿ figures. income elements and ￿$tS are defined. Thi5 forms part of the Business Plan . The risk register for the project is Wed monthty. - All core positions have been reuurted and training provided. - The project has use(J funding lo increase solar generatson capacrty, providin9 8 Iwj-lerm cost saving. Addits'onal fa¢ilrt¢'es have been bLJiII to WKlen the potential markets and increase engagement with all visitor.4. - The exhibition has been translated into 5 languages and creed in large print format Every RAF Officer Cadet n¢J¥ has their elhics training al the Centre. this provides an influx of new visitors every 9 weeks and produces arnbassadors for the Foje¢t thr￿￿ul Ihe RAF. c. Fundr•lslng activltles - Own Event irthne of £24.288.40 Exlemal Event Income £324,498.28 Donations of £167,891.92 - Catering Income £333.257.39 Merchandise sales £193,407.71 - Have Presented to over 15 diff￿nt dubs. assooatv)ns organisati.ons Held 9 events to engage wider audvdnces. including an eveniry for the Learning Team to intpAact wlh local schoolteachers and attract new donors Inslalled ts¥0 temporary free lo visrt installations which have expanded the number and type$ of audience In 2022123 we have had extenve coverage in 8 7hTrde rarNJe of media platforms, including TV, Radio, print press and online Page 4

UNCOLNSHIRE BOMBER COMMAND MEMORIAL (A Company Ilmlled by guar•nteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Achtevements and performancè Icontlnuedl d. Investment pollcy and perforniante Under the m￿¢￿andUm and Articles of Associth"¢)n. the Charrty has the rM)wer to invest in any way the Iruslees see frt. As al 31 March 2023 the charity helJ corF*Xate borKl5 arKJ other inveslmenls as detsiled in the notes to the financial $tstemenl$. Flnanclal revl•w . Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources lo continue in operational existerKe for the foreseeable future. For this reason. they continue to adopt the going cor￿eM bags in preparing the financial stalemenls. Furlher detsils regarding the ad¢Jption of the going concern basis can be found in acwntiry b. ReseThTes policy All reserves are ￿tricted to the delivery aTrJ maintenanee of the project. The trustees are yel to establish the exact fvnds that are to be required to achieve the objects of the charity. It is ankncipated that once the site is CoMp￿ted and all in¢Jebtedness cleared. a reserves policy will be required to provide a surtable Maintenan￿ fund. Paoe 5

UNCOLNSHIRE BOMBER COMMAND MEMORIAL IA company Ilmit•d by guarantee) TRUSTEES. REPORT ICONTINUEOI FOR THE YEAR ENDEO 31 MARCH 2023 Structure. governance and management a. Mgthods of appolntment or ¥18Ctlon of Trustees The management of the Group and the Company is the responsibilty of the Tru$lees who are elected and co-opted under the lefms of the Memfxan¢Jum of Association. b. Organlsational structure and decision-making policies The Board of Trustees has been refomatted to be leaner and tske a more active Part￿1pati￿ in strategi¢ diredton. The new board 1$ made up of 7 Trustees and a Company Secretary Trustees vtho have resigned are tting on the Bwd pf Patrons wfiieh wll have much more involvement than previously. Suppx)rb'n9 the Trustees are th￿e committees Finance and Operations. chaired by Paul Ro￿nSOn, Partnership, in conjunction with the UnTvefsity of Lincdn. and Investment, chaired by Baroness Hogg. Task forces wll te sel up from these committees io look at elements of Ihe project as required and will support the development and delivery of the main strategy. c. Poli¢ig8 adopted for the induction and training ol Trustèes I new trustees are given a briefing by tr Chairman of Trustees and tr*e use of organisalional briefs arid reports. d. Rlsk management The trustees have a duty to Identify and review the risks to which the charity is exposed and to ensure appropriate contro15 are in pla￿ to provide reasonable assurance against fraLKI and error. In order lo fu￿11 this an analysis of the potenlial operatsonal risks involved in thi$ project has been undertaken, along with an assessment of the like1lhc￿ arKI impact of these risks, as well as consKleration of how Ihese risks might be mitigated or managed. The proie¢t will potentialty involve a number of risks. fvstty in cOnn￿tIon y￿h the achievement of the forecast Vlsilor numbers and secondly Iwth regard lo the achievement of the grant aid. Furthei detai15 of thi5 analy515 ar¢ sel oul bdow. Page 6

LINCOLNSHIRE BOMBER COMMAND MEMORIAL (A company Ilmlt•d by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Struclure. governance and managem8nt (continued) The identif￿d key operational risks arKI the pro￿)Sed strategy ts managing eath of these is set out below.. Description Impart Probability M•na8ement strategy Failure to attract & retain, and temporary loss of. competent seniorlkev staff. High Medium IBCC known as a good place to work- competitive working conditions. remuneration, ethos and public acclamation. Underpinned by annual review of HR policies, including non-divisive bonus policy adopted by Board 26 Jan 22. Bu5iness-continuity plans e.g. cross-training,. nominated deputies. Use of Board members. Consultants & volunteers to assist senior managers le.g. FOC & FECI. 4. Board is ready to pay more to attrart & retain key staff e.g. chefs. 1. 8oard Strategies: a.. Focus on cash flow. b. Repay mort8ège by attracting major grants and donations. c. Re-rnortgage if required. d. Fund-raise for Strètegy Goals. Prepare, approve and delbver balanced 8udgets. LEPIBB loans repaid Mar 22 through donation of £700k. Cashflow spreadsheets forecast bank cash leve15 on monthly basis out to five years ahead. Strategic Dbrecrive (included in Business Plan) lays down Goa15 and programme timescales. HLF rejerted EOI for #2 project due funding pressure but suggested Jpplications in £IOk-£250k category. HLF unlikely to fund new builds but might aBree extension lie Education Centrel. A £250k'Resilience' bid. which included preparatory fundinE for an Education facility, Was turned down by HLF in Mar 23. re-submission is being prepared. (This bid a150 included provision for staff costs. impfoved solar PV reSi1￿nCe and hiring a heritagelexhibition consultant to atlvise on the 2024 Exhibition Refresh project.) A sound supervisory system is in place. underpinned by the Board's en8a8ement. Managers set high standar¢Js, lead by exomple and do not tolerate unprofessional conduct. 18CC practices, standards and ethos are enshrined in its policies and are updated regulody. Regular staff trainine in critical areas like IT & data security. Managers to balance tssks and resources to avoid failure through overreach leg Café, Events). Vital data provlded by partners, contractors & 3 parties to be verified before acceptance. Trustee5 & Patrons act as 18CC champion5 Wlthrn their communities. Failure to achieve long-term financial stability. High Medium Failure to secure new & repeat visitors. High Medium Loss of reputation a5 a well-rvn busirbesslworl d-class memorral & visitor centre. High Low Page 7

LINCOLNSHIRE BOMBER COMMAND MEMORIAL (A company Ilmlted by guarnnteel. TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 PAARCH 2023 Stn•cluTr* governance and management IconlSnued Future Plans - To wntinue to digrtise and preserve memorabilia colleclions on the Digital Archive - Developing the exhibthon to incorporate more reconryliation and post war elements. To create better educatKJnal and hospitality faolit¢es Ihrough fvnding grants, sponsorship and income generation . To continue to increase edu&ilional group uptake - To continue to inuease corporate hospitality sa￿5 at the cent - To complete the fund raising to ensure SLfftient I￿9-tem) investment - To continue lo train stsff and volunteers - To run Ihe cenlre effi￿entlY and meet 811 tsrgets Page 8

UNCOLNSHIRE 8OM8ER COMMAND.MEMORIAL .IA cornpany limiled by &1ur•nlee) TRUSTEES. REPORT ICONnNUED} FOR THE YEAR ENDED 31 MARCH 2023 Ststemfrnt of Trustees. responslbilftles The Tnjstees (who S￿ also the directors of the Company for the purposes of company lawl are responsible lor p￿parIng the Trustees, report and the finanaal statements in accordan￿ wtth applicable law and United Kingdom Accounting Stsndards (United Kingd¢)m Generally Accepted Accounting Practice). Company Saw requires the Twstees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unley6 they a￿ satisfied that they give a true and fair view of the stste of affairs of the Group and the Company and of their in￿ming reSoUr￿S and application of resources. including Iheir income arn1 exwjiiure, for th peri¢yJ. In preparing those finanoal slalements, the Tiuslees are required to. sew Suilable a￿￿￿ting poliaes and then apply them congslendy" observe the methods and principles of the Charities SORP IFRS 1021.. make judgments and accounting estimate$ thal are reasonable and prudent., state whether appliCa￿e UK A￿nting Siandards IFRS 1021 have been folh)wed, subject to any matefial departures disclosed arKI explained in the finanual slaiements.. prepare the financial statements the going concem basis unle55 rt is inappropriate to presume that the Group wll continue in business. The Trustees are responsible for keeping adequate a¢¢ounting records that are Sufficient to sh¢)w and explain the Group and the Company's transaction$ and disclose with reasonable accuracy al any time the financial PQSltion of the Group and the Company and enable them to ensure that the financial slalemenls comply with the Companies Act 2006. They are also ￿sp(￿S1b1e for safeguaiding the assets of the Group and the Company and hence for taking reasonable steps for the p￿vents.0n arKI detection of fraud and other irregularities. Olsclosure of Infomiatlon to audftors Each of the persons wts) are Trustees al the ts.me when this Trustees. repDrt is approved has confirmed that.. so far as that Trustee is awa￿, there is no relevant audrt information of vthich the eharilable group's auditors a￿ unaware, and that Trustee has taken all the sleps th ought lo have been taken as a Trustee in order lo be aware of any relevant audit infonnation and to establish that the chartsble group's audrtors are aware of that information. Approved by order of the members of the bo¥d ofTrustees on 3 >zJ th￿r behaK by= and signed on ACM Sir M Graydon G (Chair of Tru51eesl CBW FRAeS Page 9

LINCOLNSHIRE BOMBER COMMAND MEMORIAL IA company Ilmlted by guarnnleel INDEPENDENT AUOITORS. REPORT TO THE MEMBERS OF UNCOLNSHIRE BOMBER COMMAND MEMQRIAL Oplnlon We have audited the finan￿al slalements of Lincolnshi￿ Bomber Command Memorial {the 'parenl charitable company'l and it5 SUb￿diar1e5 (the 'group'i for the year eThJed 31 March 2023 which comprise the Consolidated slalement of financial actF"vil￿$, Ihe Consojjdaled slalement of financial position, the Company statement of financial position sheet. the Consolidale(1 ststemenl of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Unf(ed Kingdom Acccyjnting Standards. induding Financial Reporting Standard 102 The Financial Repo￿.ng Standard applicable in the UK and Republic of Ireland. (Unrted Kingdom Generally AC￿pted Accounting Practice). In our opinion the financial statements" give a true and fair vievi of the state of the Group's and of the parent charitable company's affairs as al 31 March 2023 and of the Group's incoming resources and application of resources, induding its income and expenditure for the year then ended. have been property prepared in ￿cordanCe w￿th Unite(l Kingdom Generally Accepted Accounting Praclice.. and have been prepared in a¢￿dance wih the requirements ofthe Companies Act 2006. Basis for opinion We Conducted our audit in accordance with Inlemational Standards on Auditing IUKI (ISA5 IUKII and applicable law. Our responwbilrtEs under t￿>s¢ stsndaids are fvrther described in the Audilor5' responsibilities for the al￿11 of the financial statements section of our report. We are independent of the Group in accordance wilh the ethical requirements that are relevant to our audrt of the financkgl statements in the United Kingdom, including the Financial Reporting Counal'5 Ethical Standard. and we have fvlfilled our olher ethical responsibilrties in accordance ￿ these requirements. We believe that the audrt evidence we have obtained is sufficient and appropriate lo provide a basis for Cmjr opinion. Concluslon8 relatlng to golng ¢on¢8rn In auditing the financial statements. we have conduded that the Tfuslees. use of going coneem basis of accounting in the preparation of the finaniaal statements is appropriate. Based on the Work we have performed, we have not identified any material un￿rtainlieS ￿latsng to events or conditions that, individually or ¢ollecb"vely, may east significant doubt on the Group's or the parent charitab compan*s ability lo Continue as a gtyng ¢oncem for a period of at least months from when the financial statements are aulhorised lor issue. Our re$￿sibIlitieS and the respmsits'lities of the Trustees V•ilh respect lo goiThJ co￿eM are described in the ielevanl seth'ons of this report. Page 10

. ILINCOLNSHIRE 80M8ER'COMfMND,MEMORIAL4¢, .¥IA'¢offlpany..'liintted'.by.guainntèejt4. INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UNCOLNSHIRE BOM8ER COMMAND MEMORIAL (CONTINUED) other infomiation The other information compfises the information indude11 in the Annual report other than the financial statements and our Auditors. repxjrt thereon. The Trustees are responsible for the other informatson contained within the Annual report. Our opinion on the financial slatements does not cover the other information and, except lo the extent otherwse eXpI￿lIty"S￿lQd in our report. V￿ do r￿1 express any form of assurance conclusion thereon. Our responsibilty is to read the other information and. in doing so, consider whether the other information is malerialFy inconsistent with the finanoal statemerts or our knowledge oblained in Ihe course of the audit, or otherwise appears to be materially misststed. If we identsfy such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise lo a material misstatement in the financial statements themselves. If, based on the wor* we have perfomied. we conclude that the￿ is a matefbal misslalement of this other infomiab'on. are required to report that fact. We have nothing to report in this regard. Opinion on other matter5 prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the a￿lit the infomialion gNen in the Trustees, Report lor the fmancial year for the financial statements are Pfepared is consistent wth the financial statements. the Trustees. Report has been prepared in accordance th ap￿ICable legal requirements. Matters on vthlch we are rwulred to report by ¢x¢eption "In the light of the kno￿edge and understanding of'the group and the parent charitable company and ils environment obtained in the r￿ul$e of the audit. we have not identified material misstatements in the Trustees, We have nothing to report in respe(A of Ihe fdlowng matters where the Companies Act 20[￿ requires us to report to you if. in our opinion.. the Infomiation given in the Trustees, report inconsistent in any material respect with the financial stslemenls., or the pa￿nI charitable company has not kept $ufficTrenl accounb.ng recor¢Js'. or the parent chantable company financial Statements are not in agreement wth the aecounb.ng record5 and returns". or certain discbsures of directors arKI trustees remuneration specified by law are not made,. or we hav8 not ieceived all Ihe information and explanations we require for our audrl. Page 11

UNCOLNSHIRE BOMBER COMMANO MEIAORIAL IA ¢ompany Ilrnit•d by guarnn¢•el INOEPENDENT AUOITORS. REPORT TO THE MEMBERS OF UNCOLNSHIRE BOMBER COMMAND MEPIORIAL {CONTINiIEDI Responslbllltl8s of trustees As explained mofe fully in the TfUStees' respon&bililies statement. the Trustees l%tho are also the directors ol the charitable company for the purposes of company lawl are respongbfe for the preparalton of the fina￿la1 statemen15 and for being sth"sfied that they give a true and fair view. and for such intemal control as the Trustees determine is neeessary to ena￿e the pwarab"M of financial stslemenls th are frèe from material misslalement. whether due to fraud or error. In preparing the finanaal statements. the Trustees ¥e ￿spOnsble for assessing the Group's arKI the parent charitable company's ability to continue as a going corwn. disdosing. as applicable. matters related to going concem and using the going concem basis of aecounts.ng unless the Trustees either intend to I￿u}date the Group Of the pa￿nt charita￿e company or to cease opefations. or have no realislic allemative but lo do so. Audltors. r•sponslbllltles forthe audlt of the flftancl•l slatements Our obJ"e¢tives a￿ to obtain reasonable asswance 8bout vthelher the financial statements as a whole are freé from material misslalemenl, whether due lo fraud or error, and to issue an Auditors. report that includes our opinion. ReasOna￿e assurance is a high level of assurance. bul is not a guarantee that an audil conducted in a￿ordanCe wth ISAS IUKI will afway$ delect a material misstatemenl when rt exists. Misstatements can arise from Iraud or error and are considered material if. individually or in the aggregate, they coukl reasonably be expected to influence the economic deasi¢)ns of users taken on the basi5 of these financial statements. Irregularities, including fraud, are instances of non-complianee ￿th laws and regulations. We design procedu￿$ in line with our responsibilrties, outlined above. lo delect malerial misstatements in respect of irregularities. induding fraud. The extent to which w prc¢edure$ are ¢apable of detecting irregularitie3. including fraLKI is detailed below.. We have t¢Jentrfied 8reas of laws and fegulabons that could reasonably be expected to have a material effecl on the financial stalernenls fr¢%n our general crmnmercial experience, kno￿edge of the se¢tor. a ieview of regulatory and legal wrrespondence and through discussions with Truslees and other management obtained as part ol the work required by 3udifiThJ standards. We have also discussed with the Trustees and other management the policies and procedure5 ielating to cornpliance Mth laws and fegulations. We communicated laws and regulations throughout the team and remained alert to any indicatsons of nonthc0mpllan￿ throughout Ihe audit. The potential impact of different laws and regulations varies considerabty. Firsuy. the group is subject lo laws and regulations that directly impact the financial ststements (for examrle financial reporting legislation} anLY we have assessed the extent of compliance with such laws as part of our financ￿1 slalements audit. We evaluated management'5 incentives and opportunities for fraudulent manipulation of the financial Slalemenls lincluth.ng risk of override of controls) and determined that the principal risks were related lo management bias in a¢counting estimates and judgemental areas of the fina￿101 statements such as as depreciation of tangible fixed assets. as well as the risk of inappropriate joumal entries to misdassfy restri¢led income. Audit procedures perfomied by the engagement team included the identsfKation and testing of material and unusual joufnal entries and challenging management on key accounting estimates. assumptions and judgements made in the prepacalion ol the financial slalements. We carried out detaikd subslantive lesls on accounting eslimales. indLKling reviewing the methods used by managemert to make those estimales. re-pertoming the alujlatron, and reviewng the outec¥ne of Frnr year estimates. Page 12

-IL,INCOL'NSHIRE BOMBÉR COMMAND MEMORIALJ-, IA company limlted by..guarantee}-, *. .￿￿￿_" INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LINCOLNSHIRE BOMBER COMMANO MEMORIAL {CONTINUEDI Audbtorn. responsibililles for the audtt of the ffin•n¢lal statsrnents Iconiinuedl Secondly. the group is subject to other laws and regulations whwe the consequence for non-compliance coukj have a matwial effect on the amounts or disclosure5 in the finanual slalemenls. We idenlffied the following areas as those most likdy to have such an effect.. Health and Safety regulati￿$ of both employees and visitors, Food Safety regulatsons and Employment laws. The group provhles regular internal trainiThJ for employees on the procedures lo follow and comply with the strict guidelines that are in place. Auditing standards limrt the required audit to rdenlfy non-compl18r￿ these laws and regulations lo enquiry of the Trustees and other management and ins￿lI0n. This InS￿li0n included a review of legal fees for any evidence of non•compliance and discussions around any issues during the year and the policies in place. Through these procedu￿$. rf we became aware of any non.compliance, we consKlered the impacl on the procedures perfomed on the related financial statement items. Owing to the inherent limitations of an audil. there is an unavoidable risk that we may not have detected some material misslatemenrs in the financial statements, even though we have properly ￿anned and perforrned our audr( in accordance with auditing standards. The further removed non-compliance w(th laws and Tegulalions is Irom the events and Iransactions reffected in. the financial stslemenls. the less likely the Inherently limited procedu￿$ requtred by audith'ng standards would idenltty rt. As wrth any audrt, there is a greatei risk of noTrTrdelection of irregularitses as these may involve collusion, intentional omissions of the overri(Je of int&mal conlrols. We are not responsibk lor wevenb'ng rwi-compliance and cannot be expected lo delec¢ n0nvcompl1an￿ with all laws and regulalions. A further description of our resp)nsibilrties for the audrt of the financial statements is k)cated on the Financial Reporting Council's website at: www.frc.org.uklaU¢Jrtorsres￿Si￿"1rtle$. Thhs descripts'on tomis part of our Auditors, report. Page 13

LINCOLNSHIRE BOMBER COMMAND MEMORIAL IA company Ilmit￿ by guarnnt•o) INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS QF UNCOLNSHIRE BOM8ER CoM￿N0 IdEMORIAL {CONTINUED Use of oui rep¢rt This rgport is made solely to the charitable Company's members. as a body, in accordance wlh Ch8Pter 3 of Part 16 of Ihe Compan￿$ Ad 20C6. and to the charita￿e company's trustees, as a boty, in accordance with Part 4 of the Charth'es (Accounts and Reports) Regulat￿rb 2008 Our audit work has been undertaken $0 that we might State to the charrtable companys members those matters we a￿ required lo stale to them in an Audilofs. rekK>rt an(J for no other purpose. To the lullesl extent permitted by law. we ¢Jo not accept or assume respOnSib￿llY to anyone other than the charilable company and ils members, as a body, for our audit wcik, for this report. or for the opinions we have fomied. Alistsir Main FCA (Senior Statstory Auditor) for and on behalf of Duncan and Toplis Audlt Limlted. Statutory Audltor Enterpfise Way Pinchbeck Spalding Lincolnshire PE113YR Dale.. g Page 14

LINCOLNSHIRE BOMBER,COMMAND MEMORIALI "l-S-£"iflA-company.Ilmlted"'by.guaranteejtbwI'II- CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES IINCORPORA TING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted Restricted fund$ funds 2023 2023 Total funds 2023 Total funds 2022 Note Income from: Donations and legacies Charitable aclivrties Other trading ath'vities Investments 77.089 351.832 723.11)0 1,914 307.555 62,783 384.644 414,615 723,100 1.914 1,313,464 295,533 508,677 Total income 1 153 935 370 338 1524 273 2 117683 Expendlture on: Raising funds Charitable aclivities.. 167.382 10.672 178.054 186,258 Memorial and centre Archive Sile landscaping Other charitable activities 877,205 27.319 32.916 314.541 1,191.746 27.319 32,916 925,951 28,171 35.716 165, 141 Tolal expenditure 325 213 1430 035 1341237 Net Sncome before net galns on Investments Nel gain5 on investmenls 49.113 2S7 46,125 94.238 257 776.446 Net Income Transfers btheen funds 49.370 252.547 45,125 1252.5471 94,496 776,446 18 Net movement in funds R¢¢¢nclllallon of funds- Total fvnds brought lo￿ard Nel movement in funds 2.066,386 301.917 5.192.196 1207.422) 7,258,582 94.495 6,482, 136 776,446 Total funds carried forward The Consolidated slalement of finanual ¥tivities indudes all gains and k)sses recognised in the year. The notes on pages 19 to 39 form wt of Ihese financial statements. Page15

1. k- LINCOLNSHIRE BOMBER COMAIAND MEMORIAL, ,k+V.' IIA company limited by.guarantèe)i* ..<!-.￿AREGIsTEREo NUMBER: 07602666, ,¥¥ ¥iY.' CONSOLIDATED STATEMENT OF F114ANCIAL POSMON AS AT 31 MARCH 2023 2023 2022 Note Flxed assets Tangible assets 10 7.335,760 7,538,043 7,335.760 7.538,043 Current assets Stocks Debtors Investments Cash at bank and in hand 12 13 14 46.487 13,808 62,086 753.937 40,524
2. 77t 701.957 876.318 908.252 Creditors.. amounts falling due wilhin one year 15 {322.7021 (445.056) Net current assels 553,616 463, 196 Total ass•ts less current liabllltlos Creditors.. amounts falling due after more than one year 7.eB9,376 8.OQl,239 16 1536.299) (742,657J Ngt assets ¢x¢ludlng penslon a$￿t 7.353.077 7,258,582 Total net assets Charfty funds Restricted funds Unreslricied lunds_ 18 18 4.984.774 -2.368.303 5, 192, 196 2,066.386 Total funds The Twslees ackntyyledge thwr responsibilit￿ for cornptying wrth Ihe requirements of the Act with re5pecl to accounling iecor(Is and preparation of fjnancial slalements. The financial statements have been prepared in acccKdance with the provisions applicable to entities subj'ect lo e small companies regrme. The financial statements were approved and authortsed for i5$ue by Ihe Truslees on and ￿gned on their behalf ty.. 'ACM Slr M Graydon GC8 CBW FRAeS The notes on pages 1910 39 fom pwt of these finanaal St￿1r￿nts. Page 16

LIIN¢OLNSHIRE,BOM8ÉR COIAMAND MEMORIAL.... . IA ¢ompa.ny.Ilmite<l'b"y.guarantg*1w.'" REGISTEREO NUM8ER:".07602666Il - COMPANY BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Note Fixed assets Tangible assets Inveslmenls 10 7.333.738 100 7.534.597 100 7.333.838 7,534.697 Current assets Debtors InvestmeTrls Cash at bank and in hand 13 14 194,892 62.086 733.237 670.030 820.167 864.922 Credrtors.. ￿(￿nIS falling due wthin cme year 15 1264.629 (396,906) Net current assets 555.538 468,016 Totsl assets less Current Ilabilitles ' Creditors.. amoLJnts falling due after more . than one year 7.889.376 8.(￿2.713 16 1536,2991 (742.65T) Ngt a$$ets excludlng penslon asset 7.353.077 7,260,056 Tolal net assets Charlty lunds Reslricled funds un￿StriCte{j lun¢Js 18 18 5.013,576 2.339.$01 5, 192, 196 2,067.860 Total funds The Compan￿$ net movement in fijnds for the year was £93.021 (2022- £777.920). The Trustees ackn¢)wled9e their responybilrties for comrAying wrth the requirements of thg Act with res￿¢1 lo accounting records and preparalton of firta￿la1 slatements. The finanual slalements have been prepared in xcordance vrith the wovision5 applicable to enlilies 5ubjed to the small companies regime. The financial slalemenls were apwoved and authorised for issue by the Trustees 9o&s and signed on their behalf by: ACM Slr M Gr•ydon G CBW FRAeS The notes on pages 19 10 39 form part of these financral statements. Page 17

"d:LINCOL'NSHIRE BOMBER COMMAND MEMORIAL-..￿ . -.IA"'¢oiiipany.limltsd..byiguarnnteel CONSOUDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Cash flow5 from operatlng activities Nel cash Ltsed in operating *'vths 362.875 1. 192,220 Cash flows from investing aetivities Dividends. interests and rents from invesbnents 1.914 (9) Purchase of Intangible assets 14443 (14,407) Purchase of invesknenls 161.8291 Net cash used in Investing activllles 164.3581 114,4161 Cash flows from Ilthancing a¢tivltles Repaymwrts of ￿rOWing 1246,5371 (9iW,368) Net cash used In flnaftclng actlvlties {246,5371 1900.3681 Change in cash and cash equlvalents In the y•ar 51.980 277,436 Cash and cash equivalents at the beginning olthe year 701.957 424.521 Cash and cash equlvalents at Ihe end of the year- The notes on pages 19 to 39 fom part of these financial ststements Page 18-

LINCIXNSHIRE BOMBER COAIAIAND MEMORIAL (A c¢)mpany Ilmlted by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 MARCH 2023 General infomialion Lincolnshire Bomber Command Memorial is a privale company. limited by guarantee wrthoul share caprtal, ¥egistered in England and Wales. In the event of being wound up, the liability in respect ol the guarantee is limited to £1 per member of the company. The charitable company's ￿lStered number and gistered office a¢SJress ￿ b& found in the Tfuslees ￿nUal repo The presentation currency of the financrdl statements Is the Pound Sterting (£1. Accountlng poli¢les 2.1 Basls of preparallon of financlal statements The financial statements have been prepared in accordance ￿th the Charrties SORP IFRS 102) - Accounting and Repts￿'ng by Charitses.. Slalement of Recommended Pradice applicable lo charib'es p￿parIng their accounts in act￿dance wrth the Financial Reporting Stsndard applicable in the UK and Repu￿1¢ of IrekrKI IFRS 1021 {effe¢live 1 January 20191, the Financial Reporting Standard applicable in the UK and Repu￿￿ of Ireland IFRS 1021 and the Companps Act 20C6. Lincolnthre Bomber Command Memorial meets the definition of a publ￿ benefft entity under FRS 102. Assets and liabilities are initi.ally reccgnised at historical cost or Iransacth)n value unless otherwise staled in the relevant accounting wlicy. The Consolidated statement of financial act¢Vbties ISOFAI and Consdidaled statement of financial position consolidate the financial siatements of the Company and its subsidiary undertaking. The results of the subsidiary a￿ consolidated M a line by line basis. The Company has taken athantage of the exemption alknwed under section 408 of the Companigs Act 2006 and has presenled its own Statement of finanoal actyvilE$ in these financial statements. Page 19

LINCOLNSHIRE BOMBER COMPaAND MEMORIAL (A ¢ompany limiled by guarnnlee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcles {contlnuedl 2.2 Income l income is recognised once the Company has entitlement lo the income. rt is probable that the income will be received and the amcwt ol In￿Me receivak￿e can be measured reliably. The recognitson of income Irorn legacies is dependent on establishing enlstlemenl, the probability of receipt and the ability to estimate Wlith sufficient acGuraey the amount receivable. Evidence of entitlement lo a legacy exists when the Company has suffiaent evidence that a gift has been left to them Ilhrough kno￿edge of the e￿$tenCe of a valid will and the death of the benefaclor) and the execuloi Is satisfied thai Ihe asset in question will not be required lo satisfy claims in the eslale. Receipt of a legacy must be recognised vthen it is probable that il will be recewed and the fair value of the amount receivable. which will generally be the expected cash amount lo be distributed to the C¢Jmpany, can be rdiably me8sured. Grants are included in the Consolidated statement of financial acb"vilbes on a receNable basis. The balance of income received for specific purposes but not expended during the period is sh¢)wn in the relevant funds ￿ the Balance sheet. IhThere In￿Me is received in advance of enlillemenl of receipt, its recognitson is deferred and included in credrtors as deferred income. Where entitlem￿l occurs before ir￿orne is received, the inttjme is accrued. Gifts in kind donated for ¢JislritAJb"on a￿ included al valuation and recognised as income when they are distributed to the projects. Gifts donate¢J for resale are included as income when they are sold. Donated services or facilibes are recognised when the wnpany has contrd over thè item, any conditions associated with the donation are met, the receipt of economi¢ benefft in the company is probable and that economic benefft can be measLtred ￿lIablY. In accordance wrth the Charities SORP IFRS 1021, the general volunteer lime of the Friends is not ￿Ognise¢l wrthin the financial statements and refer to the Truslees." report for more infomatK)n about corrtributions. On receipt, donated professional Serv￿ and facilities are recognised on the basi5 of the value of the gill lo the Company whth is the amount if would have been willing lo pay lo obtain seThices or facilities of equivalent economic benefit on the open mafket, a corresponding amount is then recogni5ed in expen¢Jrture in of receipt. Income tax recoverable in relation to donabons recerved uTrJer Gift Aid or deedy of covenant is reeognised at the time of the donation. Income tax ￿e0Verable in relati￿ to inve*rnent In￿rne is recogrnsed at the time the investment income is receivaty￿. Page 20

LINCOLNSHIRE BOMBER COMMAND MEMORIAL (A compny lirnited by guar•Trt80) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies l¢ontinued} 2.3 Expendlture Expenditure is recognised once there ts a legal or ConstrL￿I1ye obligalN)n to Iransler economic benefit to a third party. il is prof>able th a transfer of e￿nOmiC benefits wll be required in settlemenl and the amount of the obligatson can be measured reliably. Expendrture is classified by activity. The costs of each artivty are made up of the total of direcl costs and shared costs, including 5UPPOrt costs involved in undertaking each aclivAy. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which conl¥ibute to Tnore than one activity and support costs which are not attributsble to a single activity afe apportioned between those actwities on a basis consislenl wrth Ihe use of resources. Central staff costs are allocated on the basis of time spent. and deprecIa￿On charygs all￿ted on the porti.on of the asset's use. Support cosls ore those costs incurred directty in support of expenditure on Ihe objectives of the company and inclJde project management carried out at Headquarters. Govemance costs are those incurred in CoftneCt￿n wrth administrath)n of the ￿)MpanY and compliance with constitutional and statutory requirements. Expendrture on raising funds indudes all expenditure incurred by the Group to raise funds lor ils charitable purposes and indudes Costs of dl fundraising aCts'V￿.eS events and non-charitable trading. Expenditure on Charitab￿ acbvibes is irhcurred on dKe¢tty undertaking the ath'vities whith further the Group's objectives, as wdl as any assooed supp￿rt costs. l exFenditure is inclusive of I￿ecoverable VAT. 2.4 Govemmgnt granls Government grants felaling lo tangible fixed assets are treated as deferred income and released lo the Consdidated statement of finanoal activities over the expected useful lives ol the assets coneemed. Other grants a￿ credited lo the Cortsolidated slalement of financial activities as the related expenditure is ineurred. 2.5 Interest recefvable Interest on funds held on deposit is induded when receivable and the amount Can be measure(I reliably by the Grtsjp., this is nofmalty upon notffication of the interest paid or payable by the institub.on with wh￿rn the funds are deposrted. 2.6 Taxation The Company is COns￿ere(l to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Acl 2010 and the￿fore it meets the definition of a charitable company for UK Corporation tax purposes. Accordingly. the Company is potentially exempi from taxation in respect of income or ca￿tal gains reteived wilhin categories ¢overed by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chofgeable Gains Act 1992. to the extent that 5u¢h income or gains are applied exclusivety to charitable purposes. Poge 21

UNCOLNSHIRE BOMBER COMMAND IAEMORIAL IA cornpany Ilmited by guaranteè) NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng polScles Iconunued) 2.7 Tanglble fixed assets and depreclatlon Tangible fixed assets are initialty recognised at cost. After rewgnrtion, under the cost model, tsngible fixed assets are measured at cost less accumulated depreciatson and any accumulated impairment losses. All cos15 Incurred lo bn.ng a t8ngiNe fixed asset Into its intended working condib.on sh￿Id be induded in the measurement of cost. Al each reporting dale the Company asS￿eS vknether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher ol ils fair value less costs to sell and its value in use. An impairment loss is reeognised where the carrying amount exceeds tbe recoverable amwrt Depreciation is Charged so as lo all￿￿e cost of tangible fixed assets less their resKlual value over their estsmaled usefvl INes. Depreciation is provided on the f￿lD￿n9 bases.. Long-lem) leasehold woperty Plant and mathinery Office equipfflent 2% Slrai9ht Line - 25% Reducing bala￿e 33.33% Straight kn'ne 2.8 Investments Currenl asset investments Current assel investmenls comprising of listed investments are slated at maiket value at the slalement of finanaal position date. The statement of financial activty indudes the nel 9ain5 and losses arising on revaluation and disposal throughoul the period. The gains and losses are tsken to the slalement of financial activrts as they arise. Realised gains and losses on investments are calculated as the different bew sales proceeds and opening market value (value on aequisitK)n date if later). Unrealise(J gains and losses are ¢alculaled as the different between the market value at the period end date and opening market value lor value on a¢qu￿lts0n dale rf ￿tell. Fixed asset inveslments Fixed asset investments are a fomi of ffinanual instrument and are inrtially recognised 81 their transackn.on cost and subsequently measured at fair value al the Balance sheel date. unless the Value Gannol be measured reliabty in whtth case il is measured al cost less impairment. Investment gains aniy losses, whether realised or unrealised. are combined and presented as 'GainsllLossesl on investments. in the ConsolKJed ststemeni of finan(ial aclivitie5. Investments in subsidiaries we valued al cost less FYOVN¢)n for impaimeni. 2.9 Stocks Stocks are valued al the lth¥er of cost and net realisabte vakne after making ¢*Je allowance f obsolete and slow-moving Stocks. Cost iThSudes all direcl costs and an appropriate prcportK)n of rixed and variable overheads. Page 22

LINCOLNSHIRE BOMBER COMMAND MEMORIAL (A company Ilmited by 9uarnnt•e} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcles {conlinuedl 2.10 Debtors Trade and othef deblofs are recognised at the settlement amount after any trade discount offered. Prepayments a￿ ¥alued at Ihe am¢yJnt wepawj r￿t of any trade di%ounts d￿. 2.11 Cash at bank and In hand Cash al bank and in hand indudes cash and short-temi highly IiqLJid investments wlh a short maturity of three months or les5 from the date of acquisrtion or opening of the deposil or similar account. 2.12 Liabilities and provisions Liabilities are reccgnised when the￿ is an obligation al the Balan￿ sheel dale as a result of a past event. it is probable th* a transfer of economic benefit ￿11 be required in settlement, and the amount of the settlement can be estimated reliabty. LLabilities are recognised at the amount thal the Company anticipates rt will pay to setNe the debt or Ihe amount rt has received as adva￿ed payments for the ggods or services il must provide. Provisions are measured at the best estimate of the amounts required to settle the obli9alion. V￿ere the effect of the time value of money is material, the prowsion is based on the present value of Ihose amounts. discounted at the pre.tax discount rale that reflects the risks specific lo the liabilrty. The unwnding of the diseounl is reeognised in the Consolidated statement of financial a¢liMties as a finance cost. 113 Flnanclal Instruments The group onty entets into tMsic financial instrument transactions that result in the ￿¢O9nrt10n of financial assets and liabilities like current asset investments, otrer debtors and credTtors and loans. Finanoal assets that are measure¢J at cost aTh1 amorb.sed cost are assessetj at the end of each reporting period for obieth've evidence of impaiment. If ob•"ve ewdence of impaimenl is f¢)und. an Impaimenl loss is recognised in the irwme statement. For financial assets measured at amortised cost. the impaifftienl loss is measured as the drfference belween an asseys carying amount and Ihe present value of estimated cash flows discounted al the asset's original effective interest rate. If a ffinanckal assel has a variable interest iale. the discount rale for measudng any Impalment loss is the current effective interest rale ¢Jelermined under the contract. For financial assets measured at COSt less impairment. the impairment loss is measured as the ifference bets¥een an asset's carrying amounl and best estimale. wh￿h is an approximation of the amount that the company would reeeive lor the asset if it were sold at the financial ￿porting dale. Fin￿¢•01 assets and liabilities are offset and the net amwnt reported in the slalemenl of financial position when there is an enforceable right lo set off the recognised amounts and there is an intention lo sellje on a net basis or lo realise Ihe assel and settle the liats.lrty simultaneously. Page 23

LINCOLNSHIRE BOMBER COMMANO MEMORIAL IA company Ilmlt•d by guarant8a) NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcles l¢0ntlnu•d) 2.14 Penslons The Group operates a defined contn"bution pension scheme and the penS￿)n charge represents the amounts payable ty the Group to the fund in re¥ect of the year. 2.15 Fund accounting General funds are unrestricted funds which are available for use.al Ihe discretKJn of the Trustees in furtherance of the general objectives of the Group and whbth have nol been desgnaled for other purposes. Restricted funds are fuThJs %thich a￿ to be used in accordance ¥￿h sk)ecifK festrictions impose(I by don¢ys or which have been Taised by the Gioup for parb"cular puwes. The costs of iaising and administering sucb funds a￿ ¢harge(J against the specific fund. The aim and use of each restricted lunJ 1$ sel out in the notes lo the finanual slatemenls. Investment income. gain$ arKI losses are althated to trte appropnale Incomg from donatlons and logacles Unrestrlcted funds 2023 Restricted funds 2023 Total funds 2023 Tolal funds 2022 Donats'ons 76.589 76.589 791,629 Grants 307,S55 308,055 520.551 Govemment grants 7,284 T¢Xal 2022 Page 24

UNCOLNSHIRE BOMBER COhlAIAND MEMORIAL IA cornpa.ny limit•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Income from charllable acllvltles Unr•stricted Restrlcted funds funds 2023 2023 Total funds 2023 To181 funds 2022 Income from charitable activities- Memorol and centre Total 2022 53 Investrnent income Unrestflcted fut)ds 2023 Total lund$ 2023 Total lunds 2022 Investment income - I￿al cash Total 2022 Page 25

UNCOL.NSHIRE BOII£ER COMMAND MEMORIAL {A Company Ilmlted by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Tot1 resou￿$ ¢xp•ndd FLrAlrwsmg certre Are￿￿e Purthases Teth￿¢Yjy ccsts Enersy Costs TelethorE. post4e ¥r#l sla1￿￿1Y t￿1$ Other co$ 0￿ratir￿j kna5e5- Wage5 aTrl sa￿rS Nalional iwrance c[￿¢5 3.199 258.952 27.319 31.756 10.8( 46,218 6.2 415.311 14.285 Support costs a1￿led tO8CtMtses Puichase5 Techrology costs Goveman M•ntenance ofkywtrises Cleaning Tephor. ￿1398 aThJ s￿l￿A￿Y ¢t15 other costs Bank interest and charges Auditors. remuneiion tjepreciatson amtyliSa￿l Di5P05 oli￿gIb fLxed a55ets 149 78.3eil 12.944 8.137 69.959 fA).393 18.454 172.710 34.016 178.051 1,191.746 27,319 Slt• 202J 2022 ¢o¥ts dirncty locat•d to Pwchases Technolw cc¢8 Ewgy CQSts Tdephor. postage aThJ $t8trywytosts Olher eosis (ljeraiing a5e5- (thr Wages aTrl salarie5 Nonal irtsurarte Pension ¢o$ts 262,161 29.117 31,758 17, 51.456 2.(Y)D 415.311 14.285 230,386 11.617 25.305 13.279 26.103 2.000 343.04J 16.216 5.(ts7 Supportcasts aNoutsd to Klhltlo5 Jrchases Te¢hndoyy co$1$ Govemance M￿tenance0tprery Ckanirg Tep￿)￿. kYJslage 8Th1 stabw ¢)Jsts OVEr costs 8arK ￿terest charges P4Jdilor5' rewnwalicty) Oepreciatsw arK1 am￿15¥) ChSPOS81 of taNJible fixed assets 149 28.018 78.417 131,427 53.569 78.360 67.622 8.137 31.682 161.185 60.393 18.454 172.71Q 34.016 112.317 68,672 18,430 177.371 32.916 1.430.035 1.341.237 Page 26

yI..M-¢L'INCOLNSHIRE BOMBER COMMANO'MEMORIAL, 'IA'company Ilmiled.by.guaranteel": NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Audltorn. remuneratlon 2023 2022 Fees payable to the Group's auditor for the audit of the Group's annual accounts Fees payable lo the Group's audi(or in respect ot All taxation advisory services not induded above All rth-aultht services induded above 8.47S 7,250 3,125 Staff costs Group 2023 Gn￿p 2022 Company 2023 Comparty 2022 Wages and salaries Social security costs Contribution to defined conlriLxrtion pensi schemes 415,311 14,284 343.043 16.216 124,289 7.782 121, 102 8,092 5,5S8 5,067 1.372 1,936 The average nufflber of person$ employed by Ihe Company during the year was as follows: Gnwp 2023 No. Group 2022 No. Company 2023 No. Company 2022 General staff No emptoyee received remuneration anO￿ting to more than £60,000 in either year. Trnstees. remuneration and expenses During the-year. one Truslees has been paid remunerab.on or has received other benefi15 frorn an employment wrth the Company. The value of Truslee$' remunerakn.on and other benefits was as lollows.. 2023 2022 N M Van Oef Drift Remuneration 4.800 4,800 During the year ended 31 March 2023. no Twstee expenses have been incurred (2022- £NILJ. Page 27

UNCOLNSHIRE BOMBER COhlMAND MEMORIAL (A company Ilmltgd by guarnntse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 10. TangSbl* fixed assets roup Freehold property Plant and Flxtures and machlnery fitting$ Computer equlpment Totsl At 1 April 2022 Additions Disposals 8.192.942 17.259 11.926 76,903 8.299,030 4,443 136,9741 136,9741 At 31 March 2023 8.155.968 21.702 11.926 76,903 8,266.499 0opre¢latlon At 1 April 2022 Charge for the yeaf On disposals 674.131 163.119 {2.9SB) 7.266 2.549 8.480 1.424 760.987 172.710 12,9581 5.618 Al 31 March 2023 834.292 9.814 9.904 76.729 930,739 N•t l)ook value Al 31 March 2023 Al 31 Ma￿h 2022 Company Freehold Plant and property maehlnery Computer equipment Total Co•t At 1 April 2022 Additions Dispgsals ,191942 17359 76.903 8,287,104 4,443 136,9741 (36.974) Al 31 March 2023 8.155.968 21.702 76,903 8,254,573 Page 28

r¥.LINCOLINSHIRE BOMBER'COMW4ND MEMORIAL~.:.& -" (A Company lirnite'd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2023 10. Tanglble fixed assets l¢ontlnued) Company Icontinuedl Ffeehold Plant and Computer property machinery equipment Total DeprecSatlon At T Apiil 2022 Charge for the year On disposals 674.137 163.119 {2,958) 7,265 2,$49 71.111 5,618 752,507 171,286 12,958 At 31 March 2023 834.292 9.814 76.729 920,835 Net book value Al 31 March 2023 At 3q Ma￿h 2022 11. FIX￿ asset investments Investments In subsldlary ¢ompanies Company Cost Al 1 Apnl 2022 100 At 31 March 2023 Net book value At 31 March 2023 100 At 31 March 2022 Page 29

L.INCOL'NSHIRE BOMBÉR COMMAND MEMORIAL.,. IA ¢oii)pany.limite(i by guarantee)" "k" i. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2023 12. Stocks Group 2023 Group 2022 FiThshed goods and go￿￿5 for resale 13. D•btoYs Group 2023 Group 2022 Company 2023 Comp8ny 2022 Due withln one year Trade debtors Amounts owed by group undertakn.ngs Other debtors Prepayments and accrued In￿Me 8.137 12.673 3.327 19,654 27 1.836 3.508 42.025 6,203 143, 756 27 6.203 146.895 Included within debtors are amounts due on various grants awarded where conditions have been mel lor recognition within the financial statements. but cash flow is tied to expenditure on the project. Therefo￿, exact *Jates of receipts of these arnol￿ts are uncertain. 14. Current a$$•t inV￿lMents Group 2023 Gmup 2022 Company 2023 Comp8ny 2022 'sled investrnents 15. Credltors: Amounts falling due Twlthln one y•ar Group 2023 Gmup 2022 Company 2023 Company 2022 Bank loans Trade Creditors Other laxalion and social securrty other creditors Accruals and deferred income 211,19S 48,562 24.741 12,792 25.412 208,587 33,274 14,284 155.824 33.087 211,195 29.971 1,632 10.236 11,59S 208,587 22,877 2,252 153, 690 9.500 445 Page 30

LINCOL'NSHIRE BOMBER COMMAND MEMORIAL.., '**IA'company limited jby:guaranteel"",. NOTES TO ThE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 MARCH 2023 16. Credltor6: Amounts falllng du• after more than one year Group 2023 Gniup 2022 Company 2023 Company 2022 Bank loans The bank loans are secured by a fixed and Iloating charge over all the property and undertakings of the company and a legal morigage over the lfrasehold property thated at CanwKk. Total secured liabilities at the year end date amounted to £747.494 (2022 - £951.2441. 17. Flnanclal Instruments Group 2023 Group 2022 Company 2023 Comp8ny 2022 Flnanclol assets Finanual assels measured at amoitised wst Finanual assets measured at fair value Ihrough the statement of financial actw 762.074 714,630 736.$64 673, 538 62.086 62.086 Group 2023 Gmup 2022 Company 2023 Company 2022 Flnan¢5al Ilabilbtles Finanu81 liab￿ltIeS measu￿￿ at amortised Flnanoal assets measured at aM0￿"sed ￿st eompri58 trade debtors and ￿$h at bank. Financial assets measured al fair value thought the statement of financial actNlty comprise cwrenl a5sel investments. The amount recogni5ecJ lo reflect the fair value movement ol financial assets measLÈred al tsir value is strbjwn as a seperate line V￿thin the Slatemenl of Financwl Activity. Finanaal liabilities measured al amortised cost cornprise trade ueditors. b￿k overdraft and bank loans. Page 31

fjLIINCOLNSHIRE BOMBER COMMANO MÉMORIAL IA'"¢ompany.!Imited by. guarantèeli>.. , NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PAARCH 2023 18. Ststement of funds Statement of funds - cunent year Balance at 31 Ma￿h 2023 Balance at 1 April 2022 Tran$fe(s Inlout Galnsl (Lossesl Income Expendituro Uniestrlctsd lund$ General Funds Trading 2.061.313 5.073 430.835 723,100 142S.1241 1679.698) 252,547 257 2,319,828 48,475 2.066.386 1.153.935 11.104.822> 252,547 257 2,368,303 Restrlcted nds Inlemalional Bomber Command Centre HLF Fund MOD Chadwick Centre Fund NKDC Catering Fund BIFFA Award Funding IEN CRF SEGL 561.882 62.783 (41.7211 609.972 1.192.916 1.397.218 307.655 1208,468) IT74.120 722,185 1.985.090 (47.0491 1.938.041 183.352 14.000) 179.352 651,370 247,089 157,549 8.646 1141121 16,1201 13.S631 (1801 {4,4991 632.759 240,969 70,086 8.466 183.900) 5.192.196 370.338 132S,2131 1252.5471 4.984.774 Page 32

'.*.L.INCOLNSHIRE BOMBÉR COMMAND MEMORIAL'￿.:.. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Statement of fund$ {conllnued Statement ol funds - prlor yèar Balance at 31 March 2022 Balance at l Apiil 2021 Transfels out Income . Expendfture. Unrestricted funds General Funds Trading 885.242 40,920 982.506 ,961 {40,0691 (545,808) 233.634 2,061,313 5,073 926. 162 1,492.467 f585,8T7J 233.634 2.066,386 Restr5cied funds Inlernational Bomber ommand Centre HLF Fund MOD Chadwick Centre Fund NKDC Catering Fun(J BIFFA Award Fundin9 WREN CRF SEGL 611,855 1, 648.893 2,032. 139 187.352 665,482 253,209 148.218 8.826 112. 765 (162. 738) (120.840) (47,049J (4,OOOJ (14, 112) f6. 120) (40Q.321) (180) 561,882 7.397,218 1.985.090 183.352 651.370 247,089 157,549 8,646 (130.835) 512.451 (102, 799) 5.555.9T4 625,216 (755.360) (233,634J 5, 192, 196 Total of funds Page 33

LINCOLNSHIRE BOMBER COMMAND MEMORIAL (A company Ilmit￿ by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18, Stat•m•nt ol funds (continu￿) Description. nature and purpose of restrKted lunds: Intemation81 Bomber Command Centre The memorial lund is fomed from donat￿)n$ and grants for the realisation and subsequent operation of the International Bomber Command Centre. HLF Fund The Heritsge Lottery Fund IHLFI was awarded for the ¢Jevelopmenl of the ChadW￿k Cgnlre. memorial garden and archive and is ¢Jrawn down as when exFenLlrtuie occurs. MOD chad￿"¢k Centre Fund The Ininislry of Defence fund has been awarded for the constructson of visf(or and educationol facilities. NKDC Catering Fund The fund has been awarded for the compJeti¢yi of Ihe reSta￿an1 facililies al the centre. BIFFA Award Fund The grant has been awwded for the conslr¥Jction of mem￿al walls and stones. WREN Fund The Waste Recylcing Environmental (IIREN) grant ha5 been awarde(I for the land$￿Ping of the $f¢e. CRF The Cu￿Ural Recovery Fund (CRF) was avrdrded to assist the centre in reeoveriNJ unavoidable costs dunng the Covid-19 p3ndemic and to assisl in re-opening impro¥emenl$. SEGL The Smart Energy Greater ￿ne￿Inshit (SEGLI grant was awarded to assist in the purchase of salar panels for the cent￿. Transfefs beN¥een fijnds.. Material transfers betsveen funds have been made in the current year to align the current posilion of the restricted fvnd$. In particular this relates to the HLF fvnd. the International 8omber Command Centre and the General funds. Ml grant income from the HLF fund has been paid based on a cost report subrnitted prior to payment and has therefofe been spent on both and on90ing expenditure. Some of the ongoing expenditure has not been all￿ated to the HLF fund in the accounts in previous periods and therefore this is purely an accounting enty to realign the fvnds. All restricted income has been Irealed approprialety and spent in line with the grant Condi￿S. Page 34

l.it. -fi￿LINcoLNSHIRE BOMBER"COMMANO"MEMORIAL j ! 'jA"¢oinpany..Ilrh)Ited by:guaranteel' NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 WRCH 2023 19. Sunwnary of funds Sunwnary of funds- current year Balance at 31 March 2023 Balance at 1 Aprll 2022 TrdnsfeTS Inlout Gainsl (Losses) Inc¢)me EX￿ndItUrn General funds Restricted funds 2.066.386 5,192.196 1.153.935 11,104.8221 370.338 (32S.213) 252.S47 1252.5471 2S7 2.368,303 4.984.774 Summary of funds- prlor year 88￿¢ 81 31 March 2022 Balance at l Apnl 2021 Transle inlout Incon Expenditure General funds Restricted funds 926. 162 5.555.974 1.492.46T 625.216 (585,87TJ (755.360) 233,634 (233.634) 2.066,386 5, 192. 196 20. Analysls of net assets between funds Analysis of net assets funds- Current ygar Unrnstrlct•d Restrl¢t•d fvnds funds 2023 2023 Totsl funds 2023 Tangible fixed assets Current assets Creditofs due within one year Creditors due in more than one year Totsl 2.432.346 794,958 (322.7021 (536.2991 4.903,414 81,360 7.335.760 876,318 {322.702} 1536,2991 Page 35

UNCOLNSHIRE 8OM8ER COMMAND MEMORIAL IA Company Ilmlt•d by 9uaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 20. Analysls of ngt assets b•tween funds Icontlnued Anolysls of net assets between funds - prlor year Unrestricted R&slncted fvnds lunds 2022 2022 Total fijnds 2022 Tangible fixed assets Current assets Creditors due wlhin one year Cre¢Jitors in more than Me year Total 2.797,187 456,912 (445,056) (742,657J 4, 740,856 451,340 7,538,043 908,252 {445,056J (742,657) 21. RKoncSllatlon of net movement In funds to net cash flow from operatAng a¢tlvltles Group 2023 Group 2022 Nel income for the year las Statement of Finawal AclTriil*s) 94,495 776,446 Adjustments for: Depreciabon Charges Finance costs Gainslllosses) on investments Dividends, interests and rents investments Disposal of lan9ible fixed assets Decreasellincreasel in stocks Decrease in debtors Decrease in creditors 172.710 42,78f 12571 11.9141 34,016 15.9631 151,963 {124.9621 777,371 11,324 287,239 (60. 160) Net cash provided by operatlng acllvllles Page 36

4*pL.'INCOLNsfrfiRE BOM8ER"COMMAND MEMoRIAL-k4￿.'￿:&kRJ￿" ly . IA'¢ompany.liMlt￿l byiguararite•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Analysis ol cash and cash equlvalgnts Group 2023 Grwp 2022 Cash in hand 753,937 701.957 Total cash and ¢•sh equfvalents Analy815 of changes In net debl Changes in markèt value and exchange At 1 April rate 2022 Cash fl¢)ws movements Other non-cash At 31 March Changes 2023 Cash * bank and in hand Debt due wthin 1 year Debt due after 1 year Liquid investments 701.957 1208.5871 r142.657) 51.980 203.750 753,937 211.1951 1536,2991 62,086 1206,358 206.3S8 61.829 257 24. Penslon commltments The group oFerates a defined conlnbubon pw)sion stheme and made conlribulions of £5.559 12022- £5.067) during the year. Page 37

UNCOLNSHIRE BOM8ER COMMAND MEMORIAL ' IA company IlmSted by guarnnleel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 25. Operatlng lease Commitments At 31 March 2023 the Group and the Company had ¢ommitments to make futwe minimum lease payments under non-canceuable opeiatw leases as follows.. Group 2023 Grnup 2022 Company 2023 Company 2022 Not later than 1 year Later than 1 year and not later than 5 years 276 276 T59 276 276 759 The f(Alowng lease payments have been rec(gnised as an expense in the Statement of financial activities.. Group 2023 Gmup 2022 Company 2023 Company 2022 Operating lease rentsls 276 276 276 276 26. Related party Iransa¢tloDs During the year, the trustees arKI related partie5 eontribuled £55.221 12022 £4.000} to the charity, represenllng donaiions and the SUPFQrt of lundraising events. One of Ihe trustee$ of the chanty is also a d*ector of Esserte Events Solutions Ltd. Durtng the year. the charity made purchases totalling £109.176 12022 - £124,131) in reiatson to a¢Jm1nistrat￿n support received from the company. The balance owed to Essence Events solutio￿ Ltd at the year end was £7,836 (2022 - £7,836). 27. Prlnclpal subskllarles The loN¢Jwing was a SUbs￿lary undertaking ofthe Company.. Name Company nurnber Charity Registered office or principal registration place of bu$lnes$ number Inlemational Bomber Command Centre 1CK50172 Limited Mla Intematsonal Bomber Command Memorial, Canwick Avenue, Lincoln, Lincolnshire. LN4 2HQ Page 38

.aLINCOLNSHIRE BOMBER COMMAND MEMORIAL'L-:. ¥.fv&". ': jA'¢ompany.limlte(l.;by yuaranteel:. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2023 27. Princlpal subsidiaries {continuedl Prfnclpal actfvity Class of Holding shares Included in con$(>lidatlon Trathng actNities of a Ordinary reg15tered charity. 100% Yes The financial resufts of the sthbjiary for the year were." Name Income .Expenditure ProfftllLoyJl I Surplu IDefJc>t) for 'the year Not as$ets Inlemational Bomber Command Centre Limited 795.793 681.173 114.620 100 Page 39