Regi$ternd number. 07602666 Ch•rlty number. 1144182 DUNCAN &TOPLIS LINCOLNSHIRE BOMBER COMMAND MEMORIAL (A Company Llmltad by Guarantse> GROUP TRUSTEES, REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2024 KRESTON GLOBAL duncantopLis.co.uk &1 Kl YI UNCOLN8HIRE BOMBER COMMAND.MEMORIAL IA Company Umltod by Guarantee) CONTENTS Page Rèferonco and Admlnlstratlvo Dotall8 of thè Company, Its Trustse8 and Adv15ers Tru8t88B' R•port Independent Aydltovs. Report on the Flnanclal 8tstsm8nts Consolidatod 8tstom•nt of Flnanclal A¢tlvltle8 9-13 14 Consolldated Statement of Flnan¢lal Posl¢lon 15 Company Statement of FlnanGlal Posltk)n Consolidated Statement of Cash Flows 16 17 Notss to th• Flnan¢lal Statements 18-38 REFERENCE AND At)MINISTrATIVE DETAILS OF THE COMPANY, rrs rRiK8TEE8 AND ADVISERS FOR THE YEAR ENDED 31 AIARCH 2024 Mrs N M v￿ Der Drfft OBE. Chtef ExecutNe ACM Sir M Graythn GCB CBE FRAeS. Char Mr G Beattie, Trustee Mrs S E R￿￿. TnJste8 Mr D Giw Tntstee AVM (Rot) P A Rob￿￿ OBE FRPA8. Tn￿lee Al of the above trustees. sre atso the for purw)ses of company law. hekl offKe during the year urKler reviv4V. Company reglsleved number 07602e Charlty r¢glstw¢d number 1144182 Canwick Avenue Llncdn Lin¢dn$hire LN4 2HQ Company secretary Mr S Flwnirwj Chlef executlvo offi¢¢r Mr8 NKkyVan Oer Drift OBE Independent audltors & T(* Limi EnterFvise Way Pinchbeck Spalding ncok)shwe PE11 3YR Page 1 UNCOLNSHIRE BOMBER COMMAND IIUK)RIAL TRUSTEES. REPORT FOR THE YEAR ENDED 31 PIARCH 2024 The Trustees present Ihwr annual rw togeltr￿r thith the audited fin￿￿1?1 8tatements of the Company for tho year 1 April 2023 to 31 March 2024. The Annud Repcxt the PU￿ of both a TDJslees' report and a direGtorB' ffjport under company Lvht. Tr Trustees ¢fjnffirn that thè Annual Report and financkl 8latemenl8 of the Charitab￿ c¢ynpany comply with the current statUt￿Y requirwnents, the requirement¥ of the Gharitable comp8nY8 ￿vernIng dcrument and th• provislons of the Statement of Reccfflmended Practice ISORP) applicabto to charflles preparirvJ accounts In aCC￿￿nCe Wbth the FThncial Reportuvj Standard applicable in the UK and Republic of Ireland IFRS102) {effectI￿ 1 January 2019). Slnce the group and th8 Company quolrfy 88 SM￿ uThJor 383 of the Compw*l88 Act 2008, the Group Strategic Ro￿rt requir&1 of medium and lar98 c￿panI￿ under ts Companies kt 2006 {Strategk Report and Diroctorn, R•wt) Re9ulat*Th 2013 hos been (wnlt*J. ObJKtlv•• and actlvltl•• .. ObJ•ctlv•• To foster good citvzenJhip and advance educat￿ for b￿￿rt ol the pubk at large by the provi81on and malr*tenan¢o ol a memorial. ￿Sitor centre and arthrffj lo wnmwnornte who Jerved, $upport•d or $uffered in alr bombing eampalpn8 slnco the fomiatlon al the Royal Alr Fty¢o. A¢hl•v•m•nts and perfomian a. Maln achlw•m•nts ￿ th• l••t 12 monthl . HaNY chared all rArtstandlng and aro n(￿ debt fr•e. - Welcomed 106,618 vi8ii¢YS from 18 different countrtOS. - Pmwded fomial leamlng 8XPgri•nc88 s,￿ chldren knfomMI Iwnlng for 5.383 chikjren and adu￿. - Our catering team preparnd ovar 43.000 meal8. - Recrulled an addit￿n81 25 volunleern. - Continued preserving dc¢uments for the Post-ww Dè*al NJchh* and rocordad 6 ¢x•l t￿￿Mont￿. - Continu¢d preseNal￿ of d(Kuments and P￿091*h¥ fr*thè World War 2 Dlgital Arthi . Defvered 223 events - Hosted 118 groups. - Won 5 natlonal arKI 3 regronal awards including the Sandlonl Award ts knllagè Educatkln, The Visit England Large Visitor AttracliL)n Brcfflzo and the Ktng's Award for Voluntary ￿. - G8mor•l ts Supp￿ d tho NHLF for a grant of £231,CKX) b. M•rk•Ong and PR . Ourwebsite had 203,000 usérs 20 countritss. - Our combined audience on media is 57,000 . TripAdvNor rated 515 frim 1,153 reviewa 2nd 0196 Top Thng8 to Oo In Llncokn . G¢Jagh reviff4¥S. 4.W5 with 2.861 mi Charltabh actlvlll•• Durlng the year the tharfty ha8 set ￿ molim further I￿￿raiSIng athtties to athieN* the aboNB objectNO8 and Page 2 UNCOLNSHIRE BOMBER COMMAND MEMORIAL (A coM￿nY Umlted by Guarant••l TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlovem•nts and perfornianco {¢ontlnuadl d. Bu•lnM8 acllvltlos - A ca8M¢xi and 8en8ltlwty anatysls 18 Prn8•nlad to the Flnance and Operatlon8 Commiitee and Board each quarter - The dsk register for the proJ•¢t 1$ updated quarterty. - The bu8in888 plan Is rea88•88od each year and Submitted to the Board. . All coro poslilons have been recruitgd and Iralnlng pro￿ded. - Thg projgct has U8ed fundlng lo increase solar generation capaclty, providing 8 long-tsm co818avlng. Plan8 are In pl$￿ to o>lend the 8pac• to ac¢¢ymmodole the additlonal bU81n￿ 8Ctlvki08 roqulrod lor 8U8tsinablllty. •. Inv•stm•nl pollcy and porfornian¢• Under the Memorandum and Artl¢le8 of A08￿1allon. the Chathy h88 tho powar to knvesl In any way tho tru81888 As at 31 March 2024 th• charfty hfjld wrporate bond8 and other Snve8lm8nts a8 detailed in the note8 10 th fin8ndo1 $tatament8. Flnanclal r•vl•w •. Golng concern After maklng Jppropf18te onqulrle8. th8 Tru8tee8 have 8 r88sonable expectatlon that the company has adequate ro$ourc88 to contSnue in operatlonal exISten￿ for the fores￿able fulum. For thi8 rea$on, they contlnue to adopt tho golng ¢on¢om ba81s In preparing finan¢ial 8tstem8nl8. Further dgts11• regardlng th• adopt1￿ of th• golng concem basiB can be found In the accounting pollGle8. b. RH•rve• pollcy All r￿erveS are ro8lricted lo the delivery and malntonance of ￿ project. The Iruslee8 are yel lo e8tabS18h the exact fund8 that are lo be requlred 10 8chleve the objects of the chadty. It18 anllcipot¢d Ihal once the site 18 completed and all Indebtedness cloar8d, a r688N8s ￿l1¢Y will be required to providg 4 8uhable malntenanco fvnd. Page 3 UNCOLNSHIRE BOMBER COMMAND MEMORIAL IA Company Umltod by Guarnntee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Structsr•• govemanco and manAg•m•nt a. Organlsatlonal stru¢turn The boord 18 made up of 7 TTu8t•o¥ and o Company Secretary. The Truste88 have bean selected for their 8klll# and oxporlonca and èach will 8eM a to￿ of three before re4le¢tion. Trusteej ar• backtra by a panel of Patron8, many of %thom have prevlou8ly 88rvod a8 Tru$t8e$. Supportlng the Trustee8 four commlttee8 Flnance and Operatlon8, Fundralsing, Pgrtner8hlp and Inve8lmenl. The CEO 8lt8 on all committees. T88k forc48 ￿￿11 bo 88t up from these committee8 lo Iwk at elem¢nl8 ol Ihe prolecl a6 raquired and wlll Support the development and delfvery of the maln strategy. All truste88 glvon a b￿fing by the Chalman of Tru8tea8 and the u8e of organl8atbnal brl•fs and report8. b. 8t•ff •nd volunt••rn Tho Trust and rts Iradlng company employ 45 8taff125 FTE) which 18 an increa8e of 5 In the last year. Some key re8tructuring w8$ undertaken lo redefine role8 and departments to bettor monag8 the bu8lne88. The day-ttrday acllvlltes al the C8nlre are now overnaen by on exp8rlenced Operations Manager who report8 dlroctty lo thg CEO. Th•r• are department leads In place for avory project area each of whom manage a t••m. The bigg•8t gr￿￿h in Staff momb8r¥ has been in ¢alering and events, closely followed by Colwlons. n the last yo•r, wo have prov￿•d work expodence or pl8cemont6 lor over 30 Indfvlduals InclLKJing o wida rango of $lLtd8nts, Duke of Edlnburgh award applicants. ex-OffendeT8 and adults wllh SEND18$ue8. Thg Tru•l l• currentty worklng w6th 418 volunl•8rn, from 8 dlfferent ¢ountrlo8. A Volunle8r CtrordSn•lor, h•r8oir volunteer, manag88 the admln181ration around th• voluntoor pro¢o88 and then the IndlvldualB am managod by Iho rebvanl departmenl18ad, We have proth•d Iralnlng for 94 Indlvlduals covering 129 dlfferent tralning modul88. Page 4 TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 PAARCH 2024 Struc￿Tr. governance and management (contlnwd) c. Rlsk management trustees a duty to Kjenbfy aKI the rtsks to th8 chardy is exposed erKI to ensure appropriate controh are in p*• to prthfflo reawnable as¥ur8rtt a•￿t fra￿1 and em)r. In order to fulfil this an anaty5￿ of the F**enlial operatThAI risks in this projeci ha5 been undertaken. along an assessment of the hTrefihoc*J aThJ Tmpa(a of these iisks. as well as conskderation crf how these risks might be M1￿jaI8d or rnanaged. The id￿tthed keyc4)waknal ri&*s and Ihe prrycoed sts*gy for m¥wiThJ exh ofthese is s8t Lxrt bek>vr. De5crfpt•on Imp•rt Probablllty M•na8ement strategy Fallure to attract & retain, and temporary 105$ Qf, competent seniorlkey staff. High Medlum 1. 18CC known as a good pL4ce to work: competitive worklng conditlons. remuneration. ethos and public acclamation. Underpinned by annual review of HR policies. including non-divislve bonus policy adopted by Board 26 Jan 22. 2. BusinesHontlnuity plans eg cr055-trainingi nominated deputies. 3. Use of Board members. consultants & volunteers to asslst senior managers leB FOC & FEC). 4. Board is ready to pay more to attract & retsin key staff eg thets. Failure to achleve lonB-temi financial stability. High Medium 1. 8oard strategies: a. Focus on cash flow. b. Repay mortgage by attractlng major grants and donatlons. c. Re-mortgage if required. d. Fun&raise for Strategy Goals. 2. Prepare. approve and deliver balanced Budget 3. LEPIBB loans repaid Mar 22 throu8h donation of £700k. 4. Cashflow spreadsheets forecast bank cash levels on monthly ba5iS out to five years ahead. Pag8 S UNCOLNSHIRE 80MBER COhlMAND MEMORIAL .. (A Company Umltod by Guarantee) TRUSTEE8' REPORT ICONTINUEDI FOR THE YEAR ENDED 31 PJJARCH 2024 Structure. governance and management (contlnued) De5¢rlptlon lrnpact Probablllty Management stratsgv Failure to secure new & repeat vlsitors. Hlgh Medlum 11 l. Strateglc Directive (included In Bu5ines5 Plan) lays down Goals and programme mescales. 2. HLF rejected EOI for #2 project due fundin8 pressure but suggested applic3tlons in £IOk-£250k category. HLF unlikely to fund new builds but might agree extenslon lie Education Centrel. 3. A £250k'Reslllence' bid. whlch Included preparatory funding for an Education facility. was turned down by HLF in Mar 23. A re- submission is being prepared. (This bid also included provision for staff costs, improved solar PV resillence and hiring a herits8elexhibition consuttant to a(fvise on the 2024 Exhibition Refresh projett.} Loss of reputatlon as a well-run busine55lworld-class memorlal & vlsitor centre. Hi8h Low l. A sound sUpervi￿ry System is in place, underpinned by the Board's engagement. Managers set high standard5, lead by example and do not tolerate unprofessional conduct. 2. 18CC practlces, Standards and ethos are enshrlned In Its policies and are updated regularly. 3. Regular staff tralnlng in Critical areas like IT & dats security. 4. Managers to balance tasks and resources to avoid fallure through overreach leg Café, Events). S. Vltal data provlded by partners. contractor5 & 3 partles to be verlfled before acceptance. 6. Trustees & Patron5 act as18CC champions withln their ¢ornmun5tles. Pag8 6 UNCOLNSHIRE BOMBER COMMAND MEMORIAL IA Company Llmltod by Guarantso TRUSTEES. REPORT {CONfiNUED} FOR THE YEAR ENDED 31 MARCH 2024 struc￿￿# governanG8 and management l¢ontlnuedl d. Methods of appolntm•nt or electlon of Truste The management of the Group and the Company is the re8pcfflsibilty of the Truste8s are elected and c opted under the lemis of the Memorandum of Asso¢iati¢)n. o. Polklos adopted for the inductlon and tralnlng of Trustegs All new trustees are given a brbfing by the chaI￿nan of Truste8s and the of organisational briets and Pl•n# forfutur• p•rlod6 - To continue to digili50 and preserve memorabllla collectlons on the Oi9ital Archive - Developing the exhibition lo inGoTporate more rec￿clI1at10n and post war elements. To create better educ8tM)nal and hospitalty f8cilities through fvnding grants, $pon$orship and ino)me generatK¥n - To continue to increas& oducatlonal group uptd(e - To continue to increase Gorporale hospitalty sales al the centre - To ¢omplete the fund raising to ensure suffi(y8nl long4em) tr)￿StMent - To continue to train staff and volunteer8 - To run the centre efficienlly and meet all targets Statfjmont of Truste¢s' responslbllltles Trustees (who are also the directors ol the Company for the Pu￿Ose5 of Company law) are responsible for preparing the Trustees, Report and the financial ststements in accordance with applicable law and United Kingdom Accounting Stsndards (United KNigdom Generally Accepted k¢ountlng Practlce). Company law requires the Trustees to prepare financial statements for 8a¢h finan¢ki1 year. Under ¢￿￿panY kw, the Trustees must not approve the financial statements unless they are SatiSf￿d Ihat they gNe a true and fair ew of the state ol affairs of the Group arKI the Company and of thelr Incoming resources and application of resources, including their inccffie and expenditure, for that period. In preparing these financial statemenls, the Trust••s are required to.. Select suitable accounting pollctes and then apply thom ¢onststenty. observe the method$ and principles of the Charities SORP IFRS 102): make judgments and accounting 8Stimates that are rea80nable and prudent- stalo whether applicable UK A¢¢ounling Stsndards (FRS 102} havè been followed, subject to any material departures disclosed and explalned In the financial slalemenl$'. pr¢pare the financial Stst￿ents on the goirvJ concem ba￿5 unle38 Inappropriate to presume that the Group will continuo in buslness. The Trustee$ are responsible for keeping adequate accounting rewrds that are sufficient to show and explain thg Group and the Companls tTansactiOn8 and disclose with reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the flnanclal statements ccqnpty the Companies Act 2006. They are also responslble for safgguarding the 8ssel8 of the Group and thè Company and hence fortsking reasonable steps for the prevention and dei8Ction of fraud and other irregularith￿. Page 7 TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 DiKlosurn ol Infornxtlon to audltorn Ea¢h ofthè pwsons who we Truste85 at th8 time Wh￿ thi¥ Tn*lee8' Rewt ￿ approved has confimied that.. $0 far 88 thal Tn￿lee is aKdre. tlw is no rekn)t fAMllt thation of vthich the olaritable group's auditors are unaware, that Trustee has tsken au the steps tW ougm to ha%• baen taken as a Trustee in order to be wware of any relevant a￿j11 wrformation ¥KI to estabhh th* the charkable gn)up's auditors are a￿are of that Approved by order afthe membws ofthe bowd ofTnthes on 25 2024 and swjned on their behaff ty. La 44-- ACM Slr M Graydon GCB CBI FRAeS Page 8 IA Company Llmltsd by iknr•ntso> INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF UNCOLNSHIRE BOMBER COMMAND OplThlon We have audited the financial stateff￿￿ of Lincdnshire Bcfflber CLvnmand Mgm¢)ri81 (tho karenl Charitable companl) arKI it8 Subsid￿ries {the 'gnJup') ts th¢ year ended 31 March 2024 ￿tch comprise the Consolidated Statement of Fin•n¢ial ActP4itte8. the Consolvjated Statemert of Financ￿[ Postic￿. the Compary Statement ol Flnandal Posltkm. the Consolidatwj Statwnent ol Cash FkM8 and the related ryJtes, including 8 Summary of 8ignificant accounting pol*es. The finarK¢al repjllng framwhryk that ha$ been applied in Iheir preparalion Is appllcable law arrfl United Klngdc¥n AccountiThJ Standards. including Finan¢ial Rep)rting StarKlard 102 'Th8 Finan￿81 Reporting Standard applkoble In the UK and Repubk of Ire￿nd. {United Klngdom Generally Acceplod AccounUng Practical. In our ¢)plnlon th& finarthl Jtaternents.. giw a true arKI fair vmv of tho 8tato 01 th• Gray'• and of the pa￿1 choritabl• companys affalrd as al 31 Mor¢h 2024 of the Group's inc(¥niw r8eour￿• and of re80urca8. ir*cluding 18 income and expendllure for tho swr then erKled: pro￿(¢&., and have boon prwored In accord•nc• wfth tho requYom•nts of ts Cthnpanl88 Act and the Charlt Act2011. Bash for oplnlon We conducted our in acc￿￿9nCe wtth Intemation•l StaThJ•rd6 ￿ Audltlng (UK) IIW IUKII and applkoble 18w. Our respon8lbilittes urKlw those $landards arn further desuibed in the Auditors, respon$ibllitie8 for the audlt of the ftnan¢ial 8lalements 8ection of our repryl. W• are independent of th8 Group in accordance with the ethkal requlrements that arn rolovant lo our a￿lit of ts financial ststements in tha United Klngdom, Includlng th? Financkgl Reporting cOu￿1v8 Ethkal StarKlard. thp have fU￿1[8d our othor wpon$lbililles In accordance wlth the80 reqUIr￿ents. We beliwrfe that th• audit evthn¢e we have obtalned Is sulfithnl and Approprlate to provklo 8 bo818 fw our rwnknn. Conclu8lon8 rnlatlng lo golng Gon¢•m In a￿9￿lfi9 the fina￿1?1 statements, wo ￿nCIL￿d th• TnAto•8' use of ts golng ¢onwi ba&t8 of a¢¢ounting in the preparat￿ of the fmancial Statem￿ is apwopriale. Based on th• pwftyrnd. TA* not KIentif￿1 ary m•twid un¢ortalnts& relatlng to event8 or condRions that. indNKlualty or cdlectbvety. may 8lgnrfScant dLyJbt on the GTQUP'S or the parent charitablg companvs ability to contlnue as a wnq GOn￿M lor a ol al kn8St months from when the financial statements arn authffted lor issue. Our rosponsibiMkn and the rew$ll)Ilk¥ of Ihe Tr￿85 rw*cl to golry concam arn described tn th8 releyant %dion8 of this reporL Page 9 UNCOLNSHIRE BOMBER COMMAND MEMORIAL . (A Compony Llmlted by Guarantso) INDEPENDENT AUDITORS, RepoRT TO THE MEMBERS OF UNCOLNSHIRE BOMBER COMMAND MEMORIAL ICONTINUED) Other infomwtlon The other infom)alion comprises the infomatron included in the Annual Report other than the finan¢lal $latements and our Auditors, Report thereon. The Tru$te8s are responsible tor other infomiation contained within the Annual Report. Our opinion on the financkil statements does not cover the other infom)alion and, except to the extent otherwise explicitly 81aled in our report. we do not express any forn) of assurance conclu8lon thereon. Our responsibility is to road tho other infomation and, in doing so, consider whether the other information Is malerla15y inconsistent with the finanGial statements or our kno￿edge obtained in th8 course of the audf(, or othep￿I$e appears to be materially misstated. If we identrfy such material inconsistencies or apparent material misstatements, we are required to determine whether this gNes rise to a material mbststement In the financial statements themselves. If, ba$¢d on the work we have perfomed. we conclude that there is a makrial mi5Statement of this other infomiation, we are reqUI￿d to ￿POrt that fact. We have nothing to report in thB regard. Oplnlon on other mattors pros¢rlb¢d by th¢ Companleg Ad 2006 In i)ur opinlon. based on the work undertaken in the course of the audit: the infomiation given in the Trustees. Report for the finan¢lal year for which the fin8nctal ststements are prepared 15 Gonsk8tenl with the financial stalem•nts. the Trustees. R•port has been prepared in aGGordance with appfiGable legal requirements. Mattern on Y4hlGh we are requlrod to roP¢Xt by •x¢optton In the I￿h1 of our knowtedge and undornlandlng of t￿ charbtable company and 11$ environment obtained in the course of th¢ audll. V•e have not identified malerial mi8$tatements in the Trustees, Report. We have nothing to report In respect of th8 foU(ywrrYJ matters in relath?n to ￿lch Companies Act 2006 r•quir6S us to report to you rf, in our opinion: the parent charitablg company ha$ not kept adequat8 arKI suffiGient aGcounling record8, or retums adequate for our audit have not been received from bronthes not visited by us: or the parent charitable company fmancial slatemenls ar8 not in agreement wilh the accounting recorfs and retym$.' or ertain dlsclosures 0fTn￿. remunefatK*n specffied by law afa not made.. or we have not received all tha infomiatlon and gxplanalions ￿ require for our audil: IN the Trustees ware not entitled to prepare the financial statements in accordance with the small companies regime and t4(e advantage of the small companies. exempts'ons in preparing the Trustees, Report and from the requirement to prepare a Strategic R8POrt. Pago 10 UNC¢XNSHIRE BOMBER COMMAND MEMORIAL {A Company Umtted by Guarant•g) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LINCOLNSHIRE BOMBER COMMAND MEMORIAL (CONTINUED) Respons1bllitl￿ of trust••8 AS explained more fulty in the Trustees. Re6wns￿1lit1eS Statement, the Trustees Iwho are also the directors of the charitable cL¥npony for the purposes of company lawl are responsible for the preparation of the financial statements and for being 5ati5fied thal they glve 8 Ink and fair wew. and for such inlemal control as the Twslees detemiine i8 necessary to enable the preparation of finandal statements that are free from mslerial mi5Statement, whether due to fraud or error. In prepaty the financial statements, ts Tru$le8s are responsible for assessing the Group's and the parent tharitab18 company's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going ¢on¢em basls of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operallon$, or have no reali8tic allemative but to do so. Page 11 LINCOLNSHIRE BOMBER COMMAND MEMORIAL (A Company Umlted by Guarnnto•) INDEPENDENT AUDrroRS' REPORT TO THE MEM8ER8 OF UNCOLNSHIRE BOMBER COMMAND MEMORIAL ICONTINUEDI AudftoY8' r•8ponslbllltle8 lor th• audft of the flnanclal Statements Our obje¢tiv•i to oblaln reasonable assurance about wheth8r the flnancl81 statement$ as a th1• are fT60 from material mi88tatement, whether due to fraud or 8fror, and lolssue an AL¢dltors' Report that includes our opinlon. Reasonable as8ur8nce is a high level of assuiance, but is not a guarantee that an 8udh conducted In accordance with ISA¥ {UK) will 8W$ detect a material ml8stsloment when il exlsts. MIsst8tements can aTise from fraud or error and are considored matsri81 if, individually or in the aggregate, they could reasonably be expe￿ed to tnfluwKe the aconomlc declBIDn8 of u•er8 tak•n on the ba818 of these financial slatements, IrregulariUe8, In¢tudlng fraud. are In8lance8 of nonr our audA for thts report or for th• opknlon we have lorm•d. All•talr M•ln FCA (S•nlor Statutory Audltor) f￿and on beh8Vof DunrAn & Toplb Audli Llmlt•d, Statutory Au¢*tor Ent•￿TI88 Way Pln¢hb•c* Swlng Un¢olnshlro PE113YR Page 13 UNCOLN8HIRe BOMBER COMMAND MEMOFUL (A Company Llmltsd by Guarantso} CONSOLIDATED STATEMENT OF FINANCIAL ACTivmES IIP4CORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 Unr•strl¢t•d lund$ 2024 Restrfcted funds 2024 Total funds 2024 Total lunds 2023 Income from: Donation8 end legaci85 Charitable 8¢tfvities ot￿r trading activitN8s InvestrMnts 291,937 462.683 878,604 6,570 231,000 522,937 462,683 878,504 6MO 384,644 414,615 723, IL 1.914 Total Incomo 1.639,694 231,000 1,870,694 1.524,273 Exp8ndlturo on: Raising funds Charitable actNities: Memorial and centre Archive Sib larwjscaptr 207,268 207,268 178.054 1.214.140 115A06 1,329,646 32,563 56216 1, 191,746 27,319 3Z916 56,216 Total expondlture 1,510,187 116N06 1,625,S93 1,430,035 Net Income bgfore not galns on Investmonts Net gains on inNwtments 129,507 5.896 116,594 245,101 5,895 94.238 257 Net movem•nt In fvnds 136.402 115,594 260.996 94,495 Reconclllatlon (rf fund8: Total funds brought foNRrd Net movemenl in funds 2.368,303 135,402 4,984,774 115,594 7.3S3,077 250.996 7,258,582 94,495 Totsl funds carrled lo￿41d 2,503,706 5,100,368 7.604.on 7,353.077 The Con801idated Statement of Financial Advities includes all gains and losses reCLbJnl5￿ In the year. The notes on p8ge5 18 to 38 fom part of thése financial stat￿Rnts. Page 14 LINCOLNSHIRE 80MBER COMMAND MEMORIAL IA Company Umltsd by Guarantso) REGISTERED NUMBER: 0760%66 CONSOUDATED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024 2024 2023 Tarylbkn ass 10 7,200M• 7.3x760 7,200A49 7,334760 st¢¢ks Debto InbtsbMrtts Cash at bankar￿ In ￿rtd 12 S1799 266,143 81375 2148S2 46.487 14808 62.086 T51937 13 14 S￿179 87&318 15 {181586) 1322,70 Not¢urrwita•••ts 403,624 551616 T*)tslu•rf• ¢urrgntllthlllUe• 7.804on 7.889.370 Crethlrys". amounts 1oWrvJ du8 aft8r rnore than Meye8r 18 (534299J Not••Mkn oxdudlng pwwlon •Bwt 7.6W073 7.354077 Total notassets 7.eHon 7.351077 Chailty fvnds Reslrfcted lunds Urwestdcted 18 18 4100.368 2.504705 4.984,774 2.368.W3 Total fund 7.IH073 7.3S1077 The T￿te84 8cknv*l*Jye thar for cornptytrw wlrements of lh• Act *llh respqct ID preparthn OftFnancK415tale￿rts. Thg fina￿81 81alem￿¢s hfft been pwwad th x(£(dane• wlth lh• Ntyttlon$ to 8￿1￿5 S￿ie¢l to Ihe imau ¢omp8rfe The ftnandèl I18t￿ent8￿0 approwd and for tytheTruBteu on 25 July2024 0Th1 I￿Jn8d on Ihdr beh4fbr. A¢hl 81r 11 Orwn GCB CBE FR The note• on p8g88 18to 38 fml part ofih858 fin￿¢￿1 8tatemen¢s. Page 15 . IA Company Umlted by Guarantw REGISTERED NUMBEFi".07802666 COMPANY STATEMENT OF FINANc￿L P081TION AS AT 31 laARCH 2024 10 11 7,194537 7.331738 7.1KIJ7 13 14 69,37S 02,081 TJ1237 C•th •t b•nk•r¥l In hwKI 814,994 820,107 15 1107.$0•) 64.629) Totsl ••••t• l••• Il•blll 7,oHon 7.88A376 (SM299) 7.604on 7,301077 7.351077 Ctt•rttyfund• 18 18 4.984774 Unrfj8lrfL*ed frjrth IK70J Toial fwi41• 7.eKon 7.303,077 Thi C•• rAlrnObVr￿rf kn ￿￿￿£280.998 ¢w23.£￿021•. weglTh. ACII Slr IA ar•ydoTh IX8 COE FRA•8 Page 16 CONSOUDATED STATEMENT OF CASH FLOWS FOR ThE YEAR ENDED 31 MARCH 2024 2024 2023 268J81 362.875 Cash Ilows Imm Invosting a¢Uvltl•s DNidends. interests ￿ rents frcffi inbwti Purchase oftangbi ￿ fixed assets Purchase of investrnents 6.570 (¥473} 1.914 (4.443) (61,829) Not cash usfjd In Inv¢stlng actfvltles 127,9031 {64,358) Cosh from financlng actlvhles Repaymwts of twrning 1776.7631 (246,537) Net Gash in financlng activitl•g {T15,7S31 1246.537) Change In cash and cash equlvalents In tho yoar Cash and cash ￿Ul¥thnts at the beginning of the Jwr {535.076} 753,937 61,980 701.957 C•8h and cash equlvalents at tho end of th• y•ar 218I62 753,937 The n¢Jtes on pages 18 to 38 fo￿ part ofthese fnan¢4al stst￿ Page 17 UNCOLNSHIRE BOIABER COMMAND MW)IIIAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AIARCH 2024 General Informafjon Lints)Inshlre Bomber Command ￿1￿10r1aI is a cixnp8ny, Iwnited by guarantee without sha capTtal, registered in ErwJland and Wa￿. In the cl being ¥•vund up, the liabilty in r8spgct of th6 guarantee is limited to £1 per member of ts company. The char￿le companws regrstered numbw and register&l offtt athjress can be fouTrJ in the Tr￿tee5 annual rq)ort The presentatN)n currency of Ihe ffinarwl stat￿nIS is the P0￿d SteTtiTrJ {£). ountlng polklgs 2.1 Basls of pr•paratlon of flnanclal Stat￿ The finanaal Statements habe been prepared in accordance with charit￿ SORP {FRS 102) . A(xounting and ReF￿Ing by Charittes: Stalement of RWXThmend￿ Pract￿ applicable to chariti85 preparing their accounts ￿ accord￿ w￿h the Financial Reporbrtg StarKlard appl￿ble In the UK and Republtc of Ireland IFRS 102} {effeCtI￿ 1 January 20191, the Financial Rewting standard appl￿ in the UK and Republ￿ d Ireland IFRS 102) and the Compan￿9 Act 2006. Uncolnshire Bomber Command Plomorial mèets the definttion of a publ￿ benefft enlty under FRS 11x2. Assets and 1hqbtht￿ are inilialy rwnised at hi5toTul cost or tranSact￿n value unless The Cormiftdated Statwnent of Fina￿￿ klbifjlm (SOFA) and Ctytsolidated Stslement of Financkql POSItM￿ consor￿ale the ffinarKial statwnérts of the Company and its subsKliary undertakirKJ. The resuts ofthe subsidiary *• tt*tsolKlated on a Ine by lÉne basi8. The Company has taken adv￿ d the exwnplion alkY￿j under ￿￿on 408 of the Companies Act 2006 and has not preserrtwj its sta1wn￿l of FinancHI Acts¥itw in these financial Page 18 MOTES TO THE HNANCIAL 8TATEMENT8 FOR THE YEAR ENDED 31 PaARCH 2024 Accountlng polklm (contlnu•d) 12 Incom• I Income 18 recogni8ed once the Cunpwry has to the IbK(Mrn. proboble that the In¢ome wlll be recerMI the aM￿￿t of ¥Korn• Tecerrf•bkn can bo m•a8urod rdiably. The recogni￿n cl incL¥ne frLwn is on •8t*)li8hkng ant6tlom*tt, Iho probabilty of r￿elpt and the thlty to estlmate 8uffictent acujracy the amount receNable. Evidence of entlllemenl to a *aGy exhts tho Company has suftlant 84rydence that a glft has been left to them Ithrc4wh kn(￿kdge of the e￿stence Ll 8 valtd wil de*h of ts benefactor) and the •XO¢Utor Is 88tlsfied thal th8 pmpety in questicm will not be requir•J to ¥all8fy ¢lalm$ In the eststa. Recelpt of a kgocy must be rwni8ed when it is wobabl8 that it will be rnceNed 8nd the falr value ol the amount recaiv•bl¢. vthkh VAII gwwaly ￿ th• •xpxted cath amowbt to be dhtrlbulad to the Company. Can be reliqbty measured. Grant8 are IrKluded in the Con8Otfjd818d Stathent of Fln8ncial Arlfvltles on a receTvable basis. Tho bdance ol jncomo re¢oprtl spth purpo￿ nol expended during the peflod Is shown in th? relevonl fvnds on the Balance ShegL Where *mme 15 re¢•Ned in •Jvonce of enlitlemenl of rwAlpl. tts recognitK)n o d￿Irred and Induded in Creditorn as deferrnd incom8. Where entttlement LKGUrn Glfts kn kiKI dwtod (or dlstrltAAkn grn Included r*KI recognlwj as in¢m Ththen they ore diitrlbuted to tho prq•d•. Gift8 dcrnted ftr re￿Ie ve Inclu￿j M Inc NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollclu Icontlnuod) 2.12 Uabllltlu and provl•lon• Ll8bSlllle8 are recogni8ed %then there Is an obllgation al the Balance Sheet date a8 a r88utt of a pa8t •vent. it 1$ prt)bable that a transfer of economlc b8n8llt wlll be requlred th 88tUemanl. and the amount of th8 8ettlgment can be estimated reliably. Llabililiè8 are recognlsed al the amount that the Company anlicipales it will pay to 88tt18 the debt or the amount It h8$ received a$ advan¢ed paymwb18 for the gocés or 8￿c&S11 musl provtde. PrOV￿10n8 are measured al th8 b￿t ejtlmate of the amounts requlred to settle the obllgatlon. Wher8 the effect of the tim• valua of morw 1$ materlal. the prov181on18 based on the present value of IhoBe •mount8, d18counled al the pre-tax dlscount rale that refi8ct$ the rf8k8 8p6cifi¢ lo the liablllty. The unwlndlng of the dlscount 18 recogn188d In the Con801idatsd Statement of Financial Activitie8 ab nance cost. 113 Flnonclal Instruments The group onty enter8 Into ba8lc flnanclal In8trum•nt tran8actlonJ that rosuli In the remgnlllon ol flnanclol a88ets and IlablliUeB liko curronl a888t Inve8lmen18, Other debtor# and eredliors and loans. Fknanclal assell that ar• m•a8ured at ¢081 and amortbBed cost are a88•18ed at the end ol oach reportlng period f¢x ab￿CtIVe avldence of Impaimienl.11 oblecl￿e evldenca of impalrmenl18 lound, an Impalmiont tOS8 18 recogn1s￿ In the Income 8talement. For financlal •89818 mea8ured al gmortW cost, the Smpalmianl1098 ly measured as th• dlffèrence between an asset's ¢arryng amount and the posont valua ol e$llmo18d ca8h flow8 di8counled al tho a5sefs orglnlal effeclNe intera81 rale.11 a finon¢ial asset has a variable llitemt rate, the dlscounl r818 for measurlng any knpairment loss 1$ th• current effectlve Interest rate detemlned un(ler the contract. For financlal a588ts measured at C08t 1688 tmpalmient, the Impalmionl 1088 18 mea$ur¢d a8 th• dlfference betsveen an Ssset's ¢arylng amount and boot •8tlmate. whlch 18 an approxlmation of t amount that the company would re¢alv8 for the a88et if it wero Sold al the financlal reporting d8t•. Flnancial assets and li8bllilles are offset and the net amount reported In the Statement of financial P08111on when thère Is an enforceable iighl to $•t off the recogni88d 8mounl$ and there 18 an Intqnlton to $ott1o on a net bas18 or to rea118e the a880t and 8ettte the Ilabllmy 8lmultaneou$ly. 2.14 Pon•loM The Group operates a defined ¢ontrbLrtlon pen6ton 8cheme and tho pon$ton tharge represents th• amoun18 pay4)le by the Group to the lund In respect of the year. Page 22 UNCOLNSHIRE BOMBER COMMAND PAEMORIAL (A Compny Llmltsd by GUarnn￿) NOTES TO THE FINANCIAL 8TATEMENT8 FOR THE YEAR ENDED 31 hJARCH 2024 Accountlng pollcles {contInu￿> 2.16 Fund accountlng General lundts oro unre81rfcted funds whlch ore available for u8e at tho di8cretlon of the TNste88 In furtheTanc8 of tho general obl￿8 of ts Group and whlch have not b￿n de5i9nated for other purpo8e8. Restrfcted fund8 are funds whlth are to be used In accordance w￿h 8p8clftc re81rlclbrA Imposed by donors or whi¢h have been ral8ed by the Group for partkular purposes. The ¢o$ts of raI￿ng ond admini8terirrfJ such fund$ are ¢haryed agaln81 the specKtc furKI. Th• aim and use of oach ro8trf¢tad fund 18 8et out In the nots8 to thè financlal statamenls. Investment in¢omg. g•ln8 and losses are allocated to tho approprfato fvnd. Incom• from donatlon• •nd l•gaclo1 Unmtrlct•d R•8trlctsd fund• funds 2024 2024 Total funds 2024 Tot81 funds 2023 Donatlon8 Gran18 291,937 291,937 231,000 71589 231,000 291,937 231.000 522,937 384,644 Tolal 2023 77,089 307,555 384,644 In¢om• from charftable xtlvltl Unr•8lrlcted Ro8trf¢t¢d fund• funds 2024 2024 Total funds 2024 Tolal funds 2023 Income from charftable actlvities- Mamorf•l aThl centre 462.683 462.683 414,015 Total 2023 351,832 62, 783 414.615 Page 23 UNCOLNSHIRE BOMeER COMMAND MEMORIAL IA Company Llmlted by Guarantee> NOTE8 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investmfrnt Income Unrestri¢t¢d fvnds 2024 Total funds 2024 funds 2023 Investment incom8- local cash 6.570 6,670 1.914 Tota12023 1,914 1,914 Page 24 UNCOLNSHIRE BOMBER COMMAND MEMORIAL (A Company Lknlted by Guarantoe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Tol41 r•4our¢o• •xpend•d Memorfal & n¢ Ar¢h Cmts dlrnw aUo¢atsdt04*1111 2,961 2.667 303,093 Te¢hnc4¢wcos 32,563 45,689 6,358 51,723 2,orso 502,707 22,530 7,575 Tdephone. pjslage ar¥J slalknpry ¢osls Otherc081s Operalkng lea508-ot￿r V•*es aTrd saltho$ Nqttonpl kn$urnn¢o Jn ¢osts 4.652 1,333 159 Tethnolowyrz*ts 71,360 13,195 62,543 9,182 88nlng Telephone. pJ5tag¥ stthary co$1$ Otherco818 Bank Int8fB51 w%d th•rp¢s Awdllor* r8muTwBOon Deweuth and grnthallon tli￿￿1 oftarffjlblefixed•$6ets 104.060 87,97S 51,203 7,021 169,7e8 207268 1,329,546 32,563 L•ndBcapln9 Costs dlr•cty •10¢•1od to a¢trAIi08 308,074 35,230 45,669 11,010 53,05S 282,161 29,417 31,756 17,064 51.456 2.000 415.311 14.285 Sts50 TK*nol¢)yyc• T8lephone, *)d Otherojsts a￿a￿nD18a8O8-thr Wao818nd Sa￿rIeS ltsbonal Ins￿8￿¢ 502.707 22.530 7.575 Support •llo¢al8d to4¢U¥lts* Purth& TechnologyiyJBts 782eo 121.C 9.182 78.360 67.622 8.137 Mwnbnan¢•olweThthses Ckaning Tekphone. t￿189¥ •nd Skknary c4)ots 45,271 10.94S 2O3,OCrfJ 51,203 7,021 169,786 161.185 60.393 18.454 172,710 34.018 k (ftlwe$t•)d chapJ88 ors, remun¢ratknn bn 8nd 8morUs8l¢n C4¥wl oltanoltleknd 8886ts 56,218 1.625.893 1.430.035 Page 25 LINCOLNSHIRE BOMBER COMMAND MEIAORIAL . IA Company Llmltad ty Guarant•8> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Audltorn. rnmun•ratlon 2024 2023 Fees payable to ttlg Companvs auditor for tha audit ofthè Companys annual accounts 7.196 7.250 Foes payable to the Companys auditor in resp￿1 ot. Ai taxation advisory services not Included above Al noMLKlit not Included above 4,830 6,994 7,680 staff costs Group Group Company Company 2023 2024 2023 Wages arKI sakries Socol $ecurlty costs Contribution lo defined contrlbution pen8ion sCh￿e$ 502,707 22,530 415,311 14,284 137,182 8,469 124.289 7, 782 7,575 1.878 1,372 $32,812 435. 153 147,529 133,443 The average number of Par￿n$ empwd by thg Cc￿PanY during the year was as follows: Group 2024 No. Gmup Company 2023 2024 No. Company 2023 No. General staff 35 29 No ￿nP￿Yth received remuneration amounting to more than £60,000 in either year. T￿￿te05, romumratlon and exp￿8•1 During the year, one Trustees has bèen paid remunerati1￿ or has receN8d other benefrts from On nployment with thè Company. value of Trustees. remuneration and oth8r benefits was as folk￿¥$. 2024 2023 Mrs N M Van Der Drift OBE Remuneration 4MOO During the year ended 31 Mgr¢h 2024. no Trustee expenses have incurred {2023- £NIL). Page 26 UNCOLN8HIRe BOMBER COMMAND MEMORIAL (A Company Umltgd by Guarantoe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Tanglblo flxed assots Group Frnehold pvoperty Planl and FIx￿re$ and maGhinory rittings Computer ¢quipment Totsl Cost or valuatlon At 1 Aprll 2023 Additiort$ 8,155,968 21,702 11,926 76,903 742 8,266A99 34N73 At 31 March 2024 8,155,968 47N79 19,880 77.646 8,300,972 Depreclatlon At 1 April 2023 Charge fcrf the year 834,292 163,119 9.814 4,184 9.904 1064 76,729 417 930,739 169.784 At 31 March 2024 997N11 13.998 11,968 77,146 1,100,523 Net book value At 31 March 2024 7,158,557 33N81 7.912 7,200,449 At31 March 2023 7.321.676 11.888 2,022 174 7.334760 Company Fr•ehold property Plant and Computer machingry •qulpment Totsl Cost or v?luation At 1 April 2023 Iditions 8,1SS,968 21,702 2S,777 76.903 742 8.254.573 26,S19 At 31 March 2024 8,16S,968 47,479 77.645 8,281,092 Depreclatl¢)n Al 1 April 2023 Charge for the year 834,292 163.119 9014 4,184 76.729 417 920M36 167.720 At 31 Marth 2024 997h11 13.998 Tl,146 1,088,565 Pagè 27 UNCOLNSHIRE BOMBER COMIAAND MEfioRIAL (A Company Umlled by Guorantse) NOTES TO ThE RNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. T•nglbh flx•d aM6ts {contlnu•d) Company {GontInu￿> Freehold Planl and Computsr property machlnory •qulpment Tt)l•l N•t book valu• At 31 March 2024 7,158157 33A81 7,192,637 At 31 March 2ff23 7.321.676 11,888 174 7,333.738 11. Flx¢d •••et InV•¥th￿nts Invmthwnts In •ub•ldlary ¢omp4nl Company Cojt or valuatlon At l Aprll 2023 100 At 31 March 2024 100 N•t book valuo At 31 Marth 2024 Al 31 Merch 2ff23 12. stocks Group 2024 Group 23 46,487 Page 28 UNCOLN8HIRE BOMBER COMAIAND MVIORIAL IA Compw Lhnltod lry Gu•rnnt¢e) NOTES TO THE FINANCIAL STATEMEPtrs FOR THE YEAR ENDED 31 IIARCH 2024 Group 2024 G￿uP Company Company 2024 r23 Duo wlthln one y 4137 7.185 7.188 3.038 242,879 3.327 19.654 27 Amounls o*ed by group undert*irys Other dèbto 3,038 27 2K143 13.& 260,290 24,844 Ir￿uded *fjthin debtors are amounts due on var*xL4 ayarded 7th rA￿rt￿)n$ haye been mot for recognitK)n within the financial stat￿nts. bul cash is tied to eXPe￿IrtU1e on the project. Therefore. exa¢t dales of receipts ofth8se amounts We wwxrtaln. 14. Currnnt a8sat Investmonts Gn)up Gw Company 23 2024 Company 2023 69,375 69.375 1& Cr•dltorn: Amounts falllng due wlthln ono year Gn)up 2024 Gnwp Company Company 2023 2024 2023 Bank loan$ Trade credftors 211. 195 48,562 24.741 IZ792 24412 211, 195 29,971 1,632 10,236 11,595 78.039 2.600 15,129 39,158 17,632 3$￿8 Other credltors 189,SSS 32Z702 107A58 264.629 Page 29 UNCOLNSHIRE BOMBER COMMAND MEMORIAL (A Company Umltod by Guarnnlo01 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Credltor8: Amounts falllng •fter moro than ¢)n• year Group 2024 Gmup Company 23 2024 Company 2023 Bank loans 536,299 536,299 The bank loans are secured by a fixed and floating Gharge over all ts propoety and undertaking8 of the ompany and a legal mortgage over the leasehold propoty I￿ated ai Canvlck. Total secured Ilabllliles at the year erKI date amounted to £Nil (2023- £747.494). 17. Flnanclal Instruments Group 2024 Group Company Company 23 2024 2023 Flnanclal assets Flnanclal assets measured at fair Yalue through the statement of financial actimty Financial assets measured at ￿l$ed c05t 69,375 231.703 62,086 762,074 69.376 196,514 62.086 301,078 824, 160 265,￿9 798.650 Group 2024 Group Company Conpany 2023 2024 2023 Fln•nclal li•bllttl•s Financid liabilities measured al amortised 193339) fr96,056) 178.039) (777,465) FinanGial assets measured at fair value thrcvgh the $latement of fThncial actwty ¢cthprise current a88et investrnents. The amount recognised to r&flect the falr value movement of financial assets m¢a$ured at fair value is shown as a seper8re line within the statement of financial 8Ctiwty. Financial asset$ measured at omortised Mst compr18e trade debtors and cash at bank. Financial liabilitie¥ measured at amortised Cost comprlse trade creditors. bank loan$ and bank overdrafL Pag6 30 UNCOLNSHIRE BOMBER COMMAND MEMORIAL . IA Company Umltod ty Gu•rnnl¢•) NOTES TO THE RNANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 18. 8tstement of funds Stalemont of fvnds- ¢urrnit y Balance at 31 March 2024 Balance at 1 AP￿ 2023 Income Expe￿I￿Vre Gainsl (Losses) unrestr1d￿ funds General Funds Trading 1319.828 48876 761,190 878M14 1687.08S) (823.102) 6,8 2.399.828 103.8TI 1368,303 1.639.694 (1.510,18n &895 2,503,70S Command Centre HLF Fund MOD Chathhick Centre Furrfl NKDC Catering Fund BIFFA Award FundwKJ WREN CRF SEGL 1,191916 ni185 1.938.041 179,352 631759 240.969 (26,$34) (144021 (47,0491 140001 (14112 18,120) 13,0091 11801 1.166.382 938,783 1,890.992 175,352 618.647 231JJOO 67.077 4,98i7T4 231,1)00 4100,368 Tolal of funds 7.363.071 1170.694 (1,62&693 5095 7,604,073 Pagg 31 UNCOLNSHIRE BOMBER COMMAND MEMOFUAL (A Company Umllad by Guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Statement of funds lcontlnued 8tat•mfrnt of funds- prloryear Balance af 31 March 2023 Balgnce af 1 Apn7 2022 Trnnslery G81n (Loss8s) Income ExpendRurn Unrestrf¢tod funds General Funds Trading 1061,313 5,073 43Q&85 721100 (425, 124) (679,698) 252,547 257 2,319.828 48,475 2066,386 1, 1&3,935 (1, 104.822) 252,547 257 2,368,303 R¢strlcted funds Intornatlonal Bomber Ccmmand Centre HLF Fuftd MOD Chadwick Centre Fund NKDC Catering Fund BIFFA Award Funding INREN CRF SEGL 561,882 1,397,218 62 783 307,555 (41, 721) 609.972 (208,468J (774, 120) 1, 192,916 722,185 1.984090 (47,049) 1,938,041 183,352 (4.0￿) 179.352 651.370 247.089 157,549 4646 (14, 112) (6. 120) (3,563) (180) (4,499) 63Z759 240.969 70.086 8,466 I83,9￿)) 5,192, 196 370,338 (324213) (25Z547) 4,984.774 Total of funds 7,258,582 1.524,273 (1,430.035) 257 7,353,077 Page 32 UNCOLNSHIRE BOMBER COMMAND MEMORIAL Company Llmltod by Guarnntso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Statement of fvndB Icontlnued) Owcdptton, nature aNJ purp)se of restr1c￿ fund8: Inlem8lional Bomber Command Cenlrè Thg memorlal fund Is fornied from donation8 and grnnts for the re8M8atlon and 8ub8equenl operalion of the InleTnalional Bomber Command Centre. HLF Fund Tha Herllage Lottery Fund IHLFI was awarded for the development of tho Chadwkk Cantre. memrlal garden and archive and Is drawn down a8 and whan expenditure (wJr8. MOD Chadwlck Centre Fund The Mlnl81ry of Dofence fund has beon aworded for the construction of vi8itor and educallonol fKIIItI¢$. NKDC Calerlng Fund The fund has been awarded lor th• completlon of tha restaurant f8ci1it188 at the centre, BIFFA Award Fund The grant hao bean *wardod for tho conilructi¢m af mèmorfal walls and 8tonoo. VffiEN Fund Tho Walte Rwlng Envlronmental (WREN) grant ha8 been awarded for th• land$caplng of the Slte. CRF The Cultural Recovery Fund ICRFI wa8 awarded to 8881$l the centre In rxovering unavoldablè Co￿1 durlng tha COVIO-19 pandemic 8nd to 888181 in rewopening Improvement8. SEGL The Smart Engtgy Greater Llncoln8hbr• ISEGL) grant wa8 awarded lo 88i8t in thè pur¢ha80 of 801or panelb for th• centr•. 19. 8ummary of fund• Summary of funds. currant y•ar B•l•n¢o at 31 Mar¢h 2024 Balanc• •t 1 Aprll 2023 Galn•l ILo•8esI Incom• Expendlturn General funds Reslrt¢l¢d fund8 2,368203 4.984,774 1.639,694 11,610,187) 231.000 1116,406) 896 2,603,708 5,100,368 7,353,077 1,870,094 11,626.6931 5,895 7,604,073 Page 33 UNCOLN8HIRE BOMBER COMMAND MEMORIAL (A Compary Umltad by Guaranto•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. summary of fund8 (contlnu•dl 8ummary of fund•- prlory•ar Balanc8 81 31 M8rch 2023 Bal8n¢a at l Apnl 2022 rrnnsle inlout Galn (Li3sses) Income Expondllurn Gonoral fund8 Restrtded fund• 2,066,386 & 192, 196 1. 153,935 {1. 104,822) 252,547 370.338 (324213) (252,547J 257 2,368,303 4,984,774 7,258,582 1.524,273 (1.430,035) 257 7,353,077 Analy•l• of n•t i•••ts botwa•n fund• Analpl• of n•t ••••ts botwoen fund• . curront Porlod Unr••trlGt•d R••lrfGted funds fund• 2024 2024 Total fund8 2024 T•nglbl8 flxod 8$8•11 Current a88at8 Creditors due wllhln one yew 2.412,711 280,549 1189,5551 4,787,738 312,630 7,200,449 693,179 (189,5661 Total 2,503,705 5,100,388 7,804,073 Analy•l• ol n•t a•••ts botwmn fund•- prlor p•rlod Unrestrfcled fvnds 2023 R8slrict funds 2023 funds 2023 Tangible Ilxed 888ets Curr6nt a88el8 Crèdltors due %wthin one year Ciedltors due in more than one year 2.432,346 794,958 (322,702J {536,299J 4,903.414 81,360 7,335 760 876,318 (321702) (53&299J Total 2,368,303 4.984.774 7,353,077 Page 34 LINCOLNSHIRE BOMBER COMMAND MEMORIAL IA Company Umlt¢d by Guarnnt•o) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Reconclllatlon of n•t movement In funds lo net cash flow from oporatlng activities GTOUP 2024 Group 2023 Nel in¢ome for the period (as per Statement of Financial Activities) 2SO,996 94.495 Adjustmonts for: Depreciation charges Flnanee costs LO￿8$ on Investments Dtvidends, interests and rents frcAn Inv¢$tment8 Di8posal of tangible fixed assets Detyeasellin¢rease) in 8tocks DecreasellinGrea5e) in debtor8 Increasel{decreasel in creditcn 169.784 28,259 17,2891 {6,6701 172.710 42.787 (257) {1,914J 34,016 (&963) 151,963 (124.962) {261.3351 78.048 N¢t ¢ash provlded by owratlng actlvttles 268,581 362,875 Analys15 of cash and cash equlvalent8 Group 2024 Group 2023 Cash Ni har 218,862 753,937 Totsl ¢a8h and cash equlvalents 218,862 751937 Page 35 UNCOLNSHIRE BOMBER COt41MAND MEMORIAL (A Company Lknllod by Guarantee) MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2& Analysls of Ghanges In net debt Changes In market value and exchange Other non- Cash At 31 March ¢hang•s 2024 At 1 Aprll 2023 Cash flows movemMts Cash at bank and in harHI Debt due within 1 year Debt due after 1 year Lwid investments 753,937 1535,076) 747,494 218062 1536,299) 536,299 (636,299) 61086 7289 69,375 68,629 212,419 7,289 288,237 Capltal ¢ommllm¢nts Group 2024 Group 2023 Company 2024 Company 2023 Contractod for but not provldod In th8s0 Ilnanclal ststements P4uisition of tangible fixed assets 17,209 17.209 Ponsion ¢ommltments The group operates a deffi￿d contribution pension s¢hem& and made c0ntr1butKN￿ of £7,575 (2023 - £5,559> durlng th8 year. Page 36 UNCOLNSHIRE BOMBER COMMAND.MEMORIAL (A Company Umlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Operatlng lease commllm•nts At 31 March 2024 the Group and Ihg Compary had commitments to make future minimum lea5• payments under nonwcancdlable operating leases as follows: Group 2024 Group 2023 Company 2024 Company Nol later than 1 year Later than 1 year and [￿1 l*r than S year8 Later than S years 2,276 8,207 220MB8 2.276 8,483 222,888 2.276 8,207 220,888 2,276 8.483 222,888 231,371 233,647 231,371 233,647 The followng lease payments have been re¢fy3nisad as an expense in the Statement of Financial Group 2024 Group Company Company 2023 2024 2023 Operating l¢w rentaL8 2276 2,276 2,276 2,276 Related party transactions Ouring th8 yoar, the truste88 and related partles ¢ontrlbuled £46,646 (2023 - £55,221) to the ¢harty. raprosentlng donations and the ssupport of fundraising eNYnts. One of the trustees of the charity is also a director of Essence Events Solutions Ltd. During the year. the harity made purchasos tolalllng £111.811 12023 - £109.176) in relation to administration support rec¢ived from the company. The charty also purchased some items for sale totalling £15,000. The balance t%¥ed to Essence Events Solution¥ Ltd at the end was £10,680 (2023- £7.8361. 28. Prlnclpal subsldlarles The foll0v￿n9 was a subsidiary undertaking ofthe Company. Name Company Charfty Reglstered offlG? or prlnclpal number reglstrntlon place of buslnèss numbér Internatinal Bomber Command Centre 10650172 Limited Inlemaltonal Bombgr Ccdnmand Memorial, Canwick Avenue, Llncoln, Lincs, LN4 2HQ Page 37 LINCOLN8HIRE BOMBER COMMAND MEIAORIAL IA Company Umlt•d by Guarante0} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Prlnclpal sub8ldlarte8 {contlnuod) Prlnclpal actlvlty Cl￿9 of •haM• Holdlng Included In Th8olldatlon Trading actlvllle8 of o Ordlnary regi•l8red charty 100% Ye8 Tho financhl resutts of tho $ub81dlary lor the year were.. N•m• Income Expondltur• Profltl(LoM) I Surplu IDoft¢ltl for the yur Not a8Mt• Inlernatlonal Bomber C¢)mmand Centre Limllod 878,504 823,102 66,402 100 Page 38