Reglstered numb¢r.' 07602666 Charlty numbèr. 1144182 I INCOLNSHIRE.:BgMBER COMMAND,MEMORIAL (A CompanyiLlmltédty'Guarantee) GROUP TRUSTEES. REPORT ANO CONSOUDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED.31 MARCH 2025 •AEeC3LP44 1WW2025 CCWPANIES HOUSE 111 *274 UNCOL*NSHIRE BOMBER C¢YAMAND,MEMORIAL IA Company.Lknlt•d by.Guarant•o). CONTENTS Reference and Athilnlstratlve Detalls 01 th• Company. Its Tn￿••$ and fv41¥1s0is Truste•s' Report Independ•nt Auditors. R¢port th• Fln•rtelal stat￿e"Trts Cofisolldat￿ ststement of Flnancial Acdvltles 14 Consolldat•d Staloffl•nl of Flnwclal Posltlon 1s-16 Company Stat•iiwnt of Flnanclal Posltlon Consolldat•d Statement of Cash Flows 1.7-18 19 Notes to th• Flnaftelal 8tat•ments 20-40 UNCOLNSHIRE BOhlBER CIiMMANi),'MEfioRIAL. {A Coinpany Llmlted ty.GuaMt••) REFERENCE AND ADMINISTRATIVE OETAILS OF THE COMPANY. ITS TRUSTEES ANO ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trust Mrs N M Van Der Dfift OBE, Chlof Exeartb ACM Sir M Gra￿On GCB CBE FR4oS. Chair Ilf G Beatti8. Tnjstee The Bwoness HD3g. Tr￿Stee Mfs S E Raine. Tfusle Mr D &lberL TnJstee Avhl (Ret) P A Robins(M) OBE FRAeS, Tnfytee l of Ihe above tnjstees. are aso dyeckxs of the charity lor the pwrthe5 of cornpany law. held during the year under roviaw. Company Mgl8tw•d umber 07602666 Charlty rogSster•d number 1144182 R8gbt•red offieè Lir*colnsNra Bomter CommarAI Alem￿lar Canw(* AveTr ne LirKdnshire LN4 2HQ Company *e¢retsry Mr S Ffemirvj Chlef exgcutlve offic¢r Mrs N￿kY Van Der Drift 08E lftd8wnd•nt audF Duncan & Torfts Athfjt Limtted Enterpme Way nchbgck SpadiThJ PE113YR Pagt 1 UNCOLNSHIRE BOMBER COMMAND MEMORIAL (A Company LlmTh•d.by Guarant•o) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trust¢e$ present thwr annual rn[￿rt tO90th8r with the fin￿•1 statements ol the Company for the 1 Jill 2024 to 31 Mar¢h 2025. The Arrnal R¢port serve5 the pUry￿Se5 of both a TNstees' report and a d5rectois' report und&r company law. The Trustees confm thal Ihe Report and financial ststsments of the ¢harifable company ¢0M￿Y wfth ¢mni statytory rwiirernents. the reqUI￿rn￿ts of the charilable companls goveming t1ocument and the provthrts of tho Statement of Recommended pract￿ (SORPI appli¢able to harilie5 pr¢paring their acCo￿ts in ￿￿an￿o wlh Ihe Fin￿¢181 Rewxbng Standard applkabL* in the UK and RepubJi¢ of Ir¢l*d IFRS102) {effo¢bve 1 J*u*y 2019). Since the group and the Company quallfy as Small uThJer section 383 01 the CcMnp8nies A£t 2006. the Group Strategi¢ Rewrt required ol medium a)d companies under lh¥ Cc•mpanle5 Act 2006 (Strategic Report and Dwectors. Rewtl Regulaliorts 2013 has be￿ omitled. Obj¢¢tiv•s and a¢tivitios . Objectlves To foster good Citizensh￿ arbd advanG¢ ethKation for tl* b8rth of Ihc publio at largo by Ihrj kvovision and IndirilvtldlTh ol a mwnorial. visitsy centre. mvs$um •KI w(*ive". to ￿ld colloctio￿￿ for the benofit of Ihg Pu1￿le io comrnernornte those seP￿d. wc*1ed ty sullered in aw I￿rnb￿lg c•mpalw since the fomiation of the Royal Ajr Force. hlevemenls and performanc• a. Maln aehleyemnts of the last 12 months . Wekomed 106.480 vlsiiors from 19 rffftewt0￿ntrfe8. - Prowded f(wrnal Eearring experiences for 2.629 children 363 adulls and ￿fornIa1 leaming for 4447 chilthen aThJ adults. . Ovr caten'ng team Fyepared 51.812 meals. - Recwited an *dIl•￿al 21 volurtsws. - Installed a pgrman¢nt exhitylion- Women in W8r irt1￿￿k¥j a IMghyofi19 launch. - Continue(1 wesemng documents for the P05t-Ww Dhjltal Ardwve and fee￿ded 6 oral tesknonles Ènd 32 collections . Continued Weserva1￿ of do¢um8nts arnl ph)ttsJra&*>s for Ihe Worfd War 2 Di￿￿1 pr8swving 299 coll8ctions - We have Pfo¥idefF traniNJ fry 72 1ndmdu￿S 66 drfferenl tiahilTrJ mcxlules. - DelNered 225 events and attended 78 extemal events - Hosted 140 groups and 89 >vuth ryp wsits. - Won a re9ional gokl award lor Sustainable. Etrucal and C¢xnmixilty Tour&m the Leaming Team of the Year from the Schools Travd Awards Scheme. b. Marketlng and PR - Our knpbstt• had 215,CKQ ￿er$ frorft 24 cw)lries. - Our Ly)mbinad audierK8 on so¢ial media is $6.C(JO - Our quarterty new51etter ha5 13.968 sub$¢ribers - TllpAdVi￿ rated 4.B15 frorn 1.283 revteV45 and ￿Sted 2nd ￿ of 118 T¢y ThNws lo Do in Lincoln - Googlg ray￿W$- 4.815 with 3.366 reviews Page 2 . UNCOLNSHIRE BOMBER COMMAND IAEMORIAL IA coM￿Y Llmlt•d by Guar￿1￿?) TRUSTEES. REPORT {CONTIMUEDI FOR THE YEAR ENOED 31 MARCH 2025 AchSwements and perforniance (Continued) ¢. Ch•ritabl? aetlvl¢l8s Owing thè year the charity has set rÈ motion further fimdrnising xlivibes to achieve the ¥l>o¥e obje(aives and h¥5 been successful in attractityj donalbyB arnl iweasing engagernent. d, Bu8ln•ss actlvltl . A ¢8sMow 8n¢J Sensiti￿ 8notyws Is wesented to the Ffftance arK1 Opwations Commiitee and Board each quarter - The risk register lor the wcie¢t 1$ updated quarterfy. - The business plan is reassessed each yeai arKJ sthiiled to the Bo#Td. - ￿1 core posltions have been recnjiled and trainiThJ promded. . The project has used lundiThJ to increase sd¥ generation c4)a¢ity. providury a lO￿terrn cost saving. Plan5 are in ptace to extend the space to acwrnmodate the additional busin8ss activities cequlr&J for sustsinability. •. Inv￿tMent policy and p8rf¢>rnian Under the Memorandum and hslkbes of Assodakn. tho Charity has the ptrmer to In￿$¢ thi any way the tnjslees see fit. As al 31 Marth 2025 the charity hetd ￿￿ra19 b(￿ othoc investments as detaikryd in the note5 to the financial statements. Flftanclal revlew . Golng concern After makin9 appropriate enqUir￿S. the Trusiees havé a ￿sonable expethtion that the company nas adequate reswrces to ￿ntinUe in operabonal existence for the fcYeseeabbB future. For th￿ rgason. they c¥)ntwiue to adopt th¥ going ¢¢n¢*rn basis in preparing fInar￿la1 51atements. Further detsi15 regarrfiro the adoption ol Ihe going concern basis can be found in the acC￿n11r￿j pokies. b. Re¥gr¥•s policy Al ￿serVeS are restricted to thè dglivery*rfl mwntenanr* of the projecL The Irustees a￿ yel to estsbli8h Ihe eX￿t ftjrth lh* are to be r¢quired to achieve Ihe obiects of the aharity. It is ntlclpated Ihat once the site 15 complfjled and ¥U indebted￿$ deared. a reserves ￿liCY w411 be require¢J to p￿vIde a suitable maintenance furyj. Page 3 UNCOLNSHIRE'BOMBER Ct)MiiAND MEMORIAL - (A CompHny.L'IMlt•d by Gu¥rantwl TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure. gs>vernanc• and manag•m•nt . Organl$4tion•l stnKiurg Th8 board 1$ made up of 7 Tnjstees ar#J a Company S￿. The Trusttss have bo¢n sd¢¢léd for thair skills aThJ experience and each wll serve a term of Ihree y*ars betty* re4edion. TN$tees are bod(ed by a panel of Patrons. many Of*th￿n ha¥e kkniousty seNed as Tn￿. Supportir4J thg Trustees are four cornrnittees - FinwKe and opra￿)n$. Fundraksing, Parlnership and Investrnent The CEO sits on all commiltees. Task forces wyll be set up from these committees to at elements ol project as rwired and vitll su[¢￿ the development and delivery ol the main strategy. All now truste9$ are given a briefing by th8 Chairman ol T￿￿eS and the use of Organisatic￿al briefs and reports. b. Staff and volunteers The Tn￿t and its tra(fin9 company rth¥ employ 41 $laff125 FTE} which is a decrease of 4 in the last year. Some key resinjcluring was urkdertaken to redefine roles arKI departments to bèttèr manoge the business. The day-tO- day activilies at the Certtrts are w overseen by ￿ experienced Operalions Manager who reports flirectly to the CEO. The catering. admiss￿￿￿. customer seTrice retall elements tfft been combined to fom a Front of House team enabliro upskilling of slaff by kYovidirwJ trainirwJ area 8rbJ systerns and efficiencies in terms ol siaff h￿Ts. In the last year. we have provided wvrk experience ty placwnents for over 22 irn*v#*Jals incbjthng a range of studenis. D￿& ol ErfinbJrgh award ap￿ICants. and adutts wth SEND issue5. The Trust is Gurrenly ￿￿kIng wilh 398 ¥dunleers, frDm 6 thfferenl c￿trieS. A Volunteer Co-orthnator. herself volunteer, manages the admiTh3lrntion amund tho NrAurtccr procu and thon the indi￿d￿81￿ 3re.managèd by the relevant d•partmenl lead. Pagg 4 UNCOLINSHIRE.BOMBER COMMAND IIEMORIAL IA Conwany Umlt•dlby Guarnnt••l TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Stru¢lure• 9gvernan¢e and management {conllnu•d) < Rlsk manwm•nt Th? trustees ha￿ a duty lo h4entify and reviw th& risks to t*1￿ch th• charity 1$ expowj al￿ to ensure apprcyiate ¢¥)ntroLs are in placo to wovKlv reasmth assur¥￿ a9alnstfwd and In order lo fl￿ffi Ihi5 an analysis ol the polenlial operntion& risks inbthed in Ihis wc4ect has been undertaken, ong vAth an a5ses$meni of the 11(efhotyJ Irwt olthes• risks. as ¥*ll as considwabon ol hth¥ thes* ri$ks might be mitigated or managed. Th¢ idenbfifjd key opwatiryial risks wxl the Fry)0sed stratsgy for mana&ing •ath of lh￿ 1$ sel out belw. Descrlptlon Impa(t Probability Mana6ement strate8y Failure to auract & retain. and tempornry loss of, ct)mpetent seniorlkey strff. Hlgh Medium I. IBCC known as a good place to work.. competitNe working condfcions. remuneration, ethos and publlc acclamatlon. Underpinned bv annual review of HR policies. IndudlnÉ non. dp4isive bonLFS adopted by Board 26 Jan 22. 2. Bu4ness-contirhuity and reslllence plans eg cross-trainin& nominated deputies. Ops Manager & Trust Administrator will deputise lor ￿0 during her abserhces. 3. Use of Board members, consultants & volunteers to asslst senior manager5 leg FOACI. 4. Board Is ready to pay more to attract & retain key staff. S. FY Learn5￿ Offlcer recruited'ln Ileu of PT 6. Organogram improved. 1. Board strategies= Focus on cash fiowlllquldlty. Bulld capital by attractlng malor grants. cies and donatlons. Fund-raise for Strategy Goal Failure to achleve long-term financial stability. High Medium 11 2. Prepare. approve and dellvef balanced 8sJd8ets. 3. Ca5hfbw spreadsheet5 forecast bank cash levels on fflonth￿ basis gut to flve years ahead. 4. £IOOk Interest-ffee overdraft klndly set In place by a trustee. Page 5 UNCOLNSHIRE'BOMBER.COMPAAND,MEMORIAL {A'Company Llmlted by Gyarnntsol TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2Q25 Strudule. gov•rnan¢• and marngem•nt {cOn￿nU•d) Failure to secure new & repeat ViSitor5. Hlgh Medlum l. Strategic Directive (included in Business Plan) lays down Goa15 and programme timescales. 2. A £231k NHLF 'Resillence' bld linduding prep fvnds for Learning Centre} awarded Nov 23. (Award a150 includes provislon for Staff costs. improved solar PV resilience. hiring a consultant for 2024 Exhibition Refresh bid. 3. An up-tfrdate Strategic Directive and . Strategic Plan are in pla￿. which timetable 8usiness Development initiatives. Loss of reputatk*n as a well-run busines5lworld-das5 memorial & vlsltor centre. High Low l. A sound superylsory system is in place. underpinned by the 8oard's engagement. Manazers set hlgh standards, lead by example and do not tolernte unprofessional ¢ondu¢t. 2. IBCC practi¢es. standards and ethos are enshrined in its policies and are updated regularly. 3. Regulaf Staff training in critical areas like IT & data Sec￿lity. 4. Managers to balance tasks artd resources to avold failure through overf*ach leg Café. Evtntsl. S. Vltal dats provlded by partners, contractors & 3 parties to be verified before acceptance. 6. Tnsstees & Patrons act as IBCC Champion5 withln their communltles. 7 I8CCILloL Partnership Ctte strlve5 to overcome Issues an(1 prote¢t18CC reputatlon. Page 6 .UNCOLNSHIRE BOMBER COMAIAND MEMORIAL (Acompany Umlt•d'by Guarantee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDEO 31 MARCH 2025 st￿¢￿￿1 gov•mance and management (u•ndnued) d. Methods of •ppolntmenl or ¢t•ctl*)n of Trustws The mwagement of the Group and the ￿npanY the r•spJnsibility of the Tr￿te@S vhw) ar• *¢1811 c opt•d under the terms ofth8 Memor*idum ofAssorAalion. ?. Pollde$ adoptèd for th• Indu¢tlofi and tra6nlng of Ttyst¢•s I new truslees are given a Lyiefing by th& Chawrnan of TNslees and th8 use ol (yganIsat￿al bri*f$ and rfjports. Plans lorfuture pwlods - To continufj lo digilise and Pres￿¥¥ memL¥abllia colkdKX)s on ￿ Digilal hlchive - Developing th¢ extubition to I￿p￿al8 more reconc41a1￿ and FQSt war elements. To create better ethjcalional and hospitstty facaltlles thr￿ funding grants. sponsorship and ir￿orne gen$ration . To ¢ontinue to irmas¢ eduuthywl grw uptake . To continue io increase cryra¢e hO$￿Ilty salss al Ihe centro - To cofftplefe the fund raigng to ensure suffioent long-tem) investment - To continue to train staff arKI volunteers - To rnn Ihe ¢enlre effici¢nUy and meet *1 targets Statement of Trnst¢ts' rnsponslbllltks The Trustees Ivtho are also the dre¢tors of thtr CcAnpany lor the PLtyposes of company18w} are responsibte lor preparing the Trustees. Rgwrt and Ihè finaKAI statements in ac¢))Id￿ applicab￿ Law and Uniled Kingdom Accounting Standwd5 (Uniled KinyO)m Generalty fv£cepted AccoLtnting PracticEI. Company lèw Tfustees to prepare fin￿Cial slalwnents for eath finan¢ial ￿r. Under company lèw. the Twstees must approve the finarwi st*ments unles5 they are satisfied thal they giv? a Irue and lair ew of the stste of affalrs of Ihe Group and thè Company and of lh￿r incomng resour￿ and appI￿ation ol resc¥Jrces, induding thwr income aTh1 eXpeThJi￿re, fu fhat wN)d. In preparww these finanrA¥l ststements. the Truslees ero required to: sew >Jilable ￿coun11￿ pJlK4es and lh￿ 8Wy tlwn corststenlly. obserye the m¢lhods and pri￿lpleS of the Charilies SORP IFRS 102): mak¢ judgments and a¢counting estimates thal are reasonabl¥ and wudent $iate whefher apptsca1I8 UK Accounting StsThJ*ds IFRS 1021 have been f¢)lowed, sut¥ect to any materral departures di5d05ed and *xpFainad in tho financial Statements: prepare the fina￿la1 slatements on the bas&% unless It Is inapprowtate to prgsume Ihat the Group VAII continue in ￿sIness. The TNstees are responsible keeping alequate accounting reco￿ that are sufficient lo show expl8ln the Group and the Cornpanls transac1h￿ and disclose reasonable a¢¢uracy at Ymg Ihe financial Position of the Group and the Company and ￿trAe them to ensure that Ihe financwl stst$ments comply with the Companitrs Ath 2006. They are also rnsponsth for safeguardiryJ the a￿ts ol Ihe Group arKI the Company and hence fc* tskirwJ reasonabte sieps for the preventlon ar¥1 detecticffl of fraud oU)er hrewlarilies. Page 7 UNCOLNSHIRE,BOIIBER+COmhl￿lD,ME11OR1AL IA.Compoiiy Limited.byGuarants•) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Dlsclosure of Informatlon to audilorn Ea¢h cl the pwsons who are Tr[thes.￿ thè"tiM th this Trustees. RepNI 1$ approved has cxJnfiTmed that so far as that Truslee is aware, there is no rdevant autht nfomation.of which thè ¢harFtablo group.: audltors are unaware, and ttial Twstee has tsken all the steps ihal to hève been tsken as a Tnsstee in order to be. aware of any rtlevant audit infcyfflalion and to establish that the ch•rftat4e group's a￿lt(l3 are aware of that infonnalicffi. .ApY0￿ by order of mornbw5 01 the bo¥d of Tn￿ ￿ 23 2025 WKI Siw￿d on Ihw behalf by. ACM Slr M Graydan CBE FR**S Page 8 UNCOLMSHIRE BOMBER COMMAND"MEMORIAL (A cOm￿nY Umlted by Gu•r￿￿O) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UNCOLNSHIRE BOMBER COMMAND MEAIORIAL Oplthlon We have audited the financial slatemerts ol ￿ncoln$t￿le Bombpr CommaThJ Mwnorial Ilhe 'parènl charitable company) and lis subsidiatss (the 'grow') lor Iho year #nded 31 Mar¢h 2025 whth com￿$¢ th? Consolidaten We ttfflducted ow aurfrt In xcrydènce with Intmtthyol Sland¥ds on AtsYitir¥J IUIQ IISAS (UK)) and 8ppllc8ble law. Our ￿SPor￿1bIlltVéS under those $landards arn furthw described in th& Auditws, responslbilitses for th8 audit of tho financial statements sèction of our reporL We are indfrpendent of the Group in accordarK8 wlh the ethical requlrements Ih81 ar4 ro￿Vant lo ovr audit of the finandal slatements in the Ur4ied Kingdorn. Ir￿l￿dIng the Financial Reporthng Cwn¢il's Ellical Standard. and have fv1fiI￿d our other ethical responsibilities in accordance with these requir*nents. We beke¥e that tho audit ewthnce we have obtained rs sufficient and apprcpTth to proyhJ8 a ba5Ks fcv ru Conclusions relating to going ¢¢ft¢•m lrt authtlng the financial ststements. we h8¥e that thB Trust*s' use of lh8 gouig concem basis of a¢o)urttirvJ tn ts Preparati￿ ofthe financ0￿ swements 15 4)wo￿late. 88sefJ on Ihe vKrfk we have perform￿, ￿ havo rnl identifigJ any materia wcertsinties rek8tiw io evenls or coTrJiti¢)n$ that. Indtvidually ￿ collectW. may casl swJrkn dwbt the GrOL￿'s or the parent charbtsble companls ability to continue as a gcxng conwn for a period of al bg¥st rnwths IrGYn wknen the flnancial utalernents are auth0ri5gd for Owe. Our reSpon￿￿lItieS and the resF￿s1￿knkn8S cl Ihe Trustees *ith resrrft to gJlng ¢0￿M are described the relevant S8cfions of this reF**t. Page 9 LIMCOLNSHIREIBOMBER COMMAND.IAEMORtAL (A C¥)mpary Umlted byGu•xnts¢l INDEPENDENT AUDITORS'.REPORT TO THE MEMBERS OF LINCOLNSHIRE BOMBER COMPAANO MEMORIAL (CONTINUED) Other Inlomiatlon The other infomiation comkxi%* the knf0lmati￿. AnnLAI Report other than llie financial stalements and our Auctitors. RepcKt thereon. The Tru*ees are respM*ble fty the other infom1ai￿n contsined wlhin the Annual R¢FQrt. Our opinKfi on the finanGial slatements does mt cover Ihe other informatson and, except lo the extent L*herwise èxpjicitly stated in c4Jr report. ￿ ¢*) not express any form of assuranc• concluslon thereon. Our respo￿￿bilIty is to oad ts olher Infom￿tiOn and. in dLSng $0. ￿$[der whethor th& olher Infomialbn 1$ materialy inconsistent vrith th¥ financial statements or cwr kr￿VIledge obtained in the course of the •LKlit. or otherwise appears to be rnateri• mtsstaled. If we identify such material inconsistencies or apparent m8teFial mi5Statements. ￿ aw required to delermirte Y*hether trys gNes rise to ¥ material mis$latement in the rinandal 5tatemen15 thgmsefves. If. based on thè work have perfomied.. ￿ c￿clUde that ther8 15 a material rnisslatement of this other inf0m*r￿. we are wthred to reF￿ that facL Wt have noihing to r•p)rt i) re9ard. Oplnk>n on other matl•rs prns¢rth•d by th• Comynl•s Act 21N)6 In our tipintL)n. bosed on the work ￿dertaken"In th? of th8 lh* inlormalk)r) giv*) in the. Tru5tees' Report for Ihe finwwl year for th8 ffnanckl $tstemen15 are prepared is consislenl the finaThaal statemenls. the TrLFSte$s' Report has been Fffepared in actsydarKo *ilh ok￿Coble legal rewiremenls. M•tt•rs on whlch w• are requSr•d to r¢port by exuptlon Ih. the light of our knovA* aiNI under$tandtng of the charitable ¢oinpony and its environrnenl obtalned in the ¢oursè of thè ¥JdiL ￿ have not iderttified m￿er￿al mlsstatements In the Tntstees, Report. We have nothing" to r*prM in reSp￿t of the folo*irg mattws in rdalion t¢ Ctynpani•s Acl 2006.. requires us to rep)rt lo you if. in our opinlon.. the parent charitat4e ¢(Kn￿Y has keirt *qLth arKI suffrwnl actrJuntiNJ rgccxds. or reiums adequate fry our audit have not been recwved frtyr not vi&ted by us: or the pa￿ftt charitstAe company finartcyd stslwnents are rnl in agroemont wilh Ihe accountww reC￿rdS and retums.. or certaln di3dosures'of.Trnstees' remLmerallon speryfi8(I by law aro not ma¢Je: or we hav• not receNed all the infrym3t￿ 8rnJ exF4aMtiO￿ wo r8quire our aud￿ or thè Trustees were not eniiied to pre.pare the finanual staternenls" in a￿)rdance with small cornpanies re9imt * take advantage. of the small ¢ompanieg exèmptions bn prepar6ng lthe Twstees, Report and lrnm the requlrement lo Fyepare a strateg￿ Rew Page 10 UNCOLP&8HIRE BOMBER COAIMANDMEMOIIIAL {A Cofflp•ny Llmlted,by Gu*r4ntee> INDEPENOENT AUOITORS. REPORT TO THE MEMBERS OF UNCOLNSHIRE BOMBER COMMAfr4D MEMORIAL (CONTINUEDI R•spon$lbllSU•s of trust••s As explained more bjlly in the Trustees. Res￿￿11￿￿￿e3 SlatemenL the Truslee8 (who are also the directors of the chalilal￿o Company for the pwposes of c4Mnpwby law) are responsible th8 preparation of the Itnan¢sal stsiements and for bein9 satlsfi•d that Ilw gNe a and fair v¢ew, and for such internal control as the Tru$18es detemine is nécessary to en￿0 Ihe yeparation of statemenls Ihat are Ire8 from material misst8lemenl. whelher due lo fraud or error. In pwparing the finandal s<ements. the Tntslees ￿ resF¢ffisth tr assessing th• Gr￿￿$ and th• parènt haritable compan1$ ability to c£￿tinUe as a gLMrvJ c¥ncem, di5¢1tssin9, as aP￿￿bLe. mattgr$ ￿late¢l to going concem and using the go¢rvJ cryiwn basis olacewnting t￿lesS Ihe Tntstees either inlend to I￿uldate Ihe Group or the parert ch3ritabl¢ tsynpany or to ¢ease oporauons. or have Th) realisbc altemative bul to do so. Pag8 11 UNCOLMSHIRE 8OMBER.COMMAND.MEMORIAL (A Company Lknlt•d byf¥uarnnt••l INDEPENDEIIT AUDrroRS' REPORT TO THE MEMBERS OF LINCOLNSHIRE BOMBER COMMAND MEMORIAL (CONTINUED) Audl¢orn' r•sp¢)nslbllltles fortho audit of the fin•n¢lal st#temffits Our oW'e¢tives are to obtsffi reasorAble ass4nnce atnrt the financial ststements as a whole are free from rngteri* misslatgmgnt. vAth due to fraud or error. and to ss>Je an Auditors. Rekk)rt Ihal include5 our oplnion. Reasonable assurance a high thl ol a5suranr*. Ixrt ￿ Th)18 guaranieo that an audit conducted accordance wth ISAS IUKI win dete¢t 8 m*èrial misstatemènt vthen it exists. Misststèments can arise from. fraud or error and are cons¥J8fed mat*iat if. ir¥fivthally or In Ihe aggregate, thay could reasonably be expe¢ted to influenc8 the economic decislons of taken C￿ basis of these financial statements. IrregulariUe5. IndudiTrJ fraud. arn in*an¢os ol rM-￿n￿Iar￿ wih la¥B WMI ragubtions. We dgSi9rt procedu￿$ in line wth our reswJnsibilitieS, ouuined abc*ve, lo dete¢t matgrial mLs$tatements in r&spe¢t of iffègulariti¢$. incluE11ng Iraud. The exlent to which our wocedures are capabl• of detecting irragulariti•s. induding fraud is detailed betw. We have identified areas of I￿ and regulations that cts￿d reasonabty be eX￿cted to havè a material effect on the financial statements our gener41 ¢ommercial oxpeiience. knt*Aedg9 of the se¢tor, a review ol regulatory and legal ¢orrespc#id8fKe and through di￿j$s1)rts wih Trustees and oth8r mana9•ment obtsined as part of Ihe work reqwfed by aurfiting stsndards. We have also discussed with the Trust8es and other management the pol(thes and piocedwes reLating lo c￿p1k￿nCe Nhyih laws and regulatiorts. We cornmunicated laws and re9ulation$ throughout the kam aTrJ remained alert to any indicaiion5 of non•compliance throughout th8 Th• po￿ntIal impact ol different kws and re9thati￿￿ consKlerabty. Firsuy. the group is subject to laws and regLtlabons Ihal direcuy irnpact the finanual statements Ifor exwnple financial reportiThJ legislatlonl and we have assessed Ihe extent ol cijmpfkqnce with s￿h laws as part of cw financval staiemerts audit. We evaluated managemenfs incenlbves and OFpr¥lurwties for fraUdl￿￿t manipulati¢)n of the financial statsments {including r¢sk ol override of c3Jntrols} and detem)ined that Ihè Fisks w&r• rdaletj to managem$nt bi85 in accounting ¢$timates and judg&rn•ntal areas of the ffinarti￿ statements stsch as as depreciat￿On of tangible fixed assots, a$ well as the risk of inappropriate ioumal entries to mi5dassify restricted Irwrne. Autlit procedures perfomed by the engagement team (ncluded the TrdenlifKation and testw￿ of material unusual Iwrnal entries and challenging management on key attwniing ¢stim*as. assumptions and jLwJgements made in the kxeparation tsf the fmancial staternents. W8 carried out detaI￿d sthtarttive t¢$ts on ￿e￿ntIng estimat¢s. rn¢fuding rmwing the methods used by managem*nt ￿ make those estimates. rtrpgrfomilng th8 ¢a*utatlon. and rwewirtg the outcome of prior ypar estimal•s. s*Cry￿y. Ihe wp Trs subiect to rAher la￿ WKI re￿￿&110n$ *there thè o)nsequence nOn•c￿phart• ¢ould have a maierial effect or di5doswes in finarwl st*em?nts. We idenlified the following areas as those most likely lo such an •ffeet.' Heallh and S81&ty regulations of both omployee5 and v￿*tOrS. Food Safety regulations and Employm8nt l¥Yo. group provides regular intsmal training lor employees on th proCedu￿S to fdl¢YAf aThJ ¢ompty WTth the strKt gukj8ll￿ that afe in place. Aurfrttng standards Itmil the r•qu*8d audit prwdurès to idénbfy nthFcomF41anc* wrfh Ihosè laws ond rggulèlions to enquiry ol the TnJst8¢8 and other rnanagement and inspectiL￿. This inspecthjn indud8d a revi8w of18gal fees for any e￿der￿e of non-¢¢ynpliance and dIscusSK￿ arrAJFKI any issues during year and the pol￿￿e$ In place. Through thes• procèdures, if be¢am¢ awara of any norFcomptian¢e. w? C￿sIder*d Ihtr impact on th• procedures performed on lh* related Ilnancd statement ilern& ving to tho inhèrant 1Smltattons" ol ￿ audit. thern an una¥oidabt• risk Ihat V￿ may not have detected some material misstafements in tha ffnancial statemerrts, even Ih)ugh wa have properfy planned and pBrformèd our audit in acCorda￿e with #uditing stsndards. The fut1her rernovÈd non-&)m￿1ance wth 18¥￿ and regulations is from Ihe aveftts and transact￿$ ￿fi￿Cl•d in ffinancial statements. th• less likely the inherently limited procedures requireLI ty audiiwi9 si*idard5 Mltintify IL As wilh any authc there is a 9reatW risk ol non- detection IA Irregu￿1￿ ¥S th￿ may In￿ ¢tYkw￿. ￿￿en11￿5 omissllms of thtr o¥erridg of inlemat ￿ntrol$. Page 12 LINCOL14SHIRE 8OMBÉR•2¥ Page 13 UNCOLNSHIRE 8OM8ER COMMAND MEMORIAL (A C¢)mpany Umlt•d,by Guarantee) CONSOLIDATED STATEMENT OF FIIIANCIAL ACTf¥irriES IINCORPORATING INCOME AND EXPENOffURE ACCOUNT) FOR THE YEAR EIIDED 31 MARCH 2025 Totsl funds 2025 funds 2025 funds 2025 funds 2024 Nol• In¢ome from: 0￿￿tIonS and legacitrs Charitable actiwties 247,922 475.509 968.273 {9,050) 238,872 4YS.509 968,273 522.937 462.683 878.504 6.570 other trading acbmties In¥gs(ments Totsl Incom• 1.695.090 19.0501 1.686,040 1.870.694 Expend]ture on: Raising fvrKts Charitable a¢tiMti¢s'. Memorial and cen 229.%1 229.961 2Q7.268 1.206.016 51.079 28J30 325.236 1.531.2S2 51.079 28.930 1,329,546 32.563 56.216 Site landscaping Total expendlturn 1.511986 32S.236 1.841.222 1,625.593 Net In¢om8llexpendlturn) before nat gains on Inve5tm¢fftts Net gains on Investments 179.104 4.153 (334.286) {15&1821 4,153 245.101 5.895 Net moY•m8nt In funds 183251 {334.2861 {151.0291 250.996 Rocondll•tl¢n of lunds: Totsi fvjnds txought forw¥rd Not movement In fvnds 2.$03.705 183257 4100,368 1334.286) 7.604.073 (151.029) 7.353.077 250,996 Total funds u¥rf•d fonvafd 2.686.962 4.766.082 7.453.044 T,604,073 The Consolkjated Statemenl ol Fmancral A¢￿¥1￿ incjudes ￿1 galns and losses reccy)i$od In the year. The Tr)tes on pages 20 ￿ 40 ftym W of these fwwrwl slatemenf& Page 14 UNCOLNSHIRE BOMBER COMPIAND MEMDRIAL .(A Company L.Im5ted'.by.Guarante•) REGISTERED'.NUMBEL. 07602666 CONSOLIOATEO STATEIAENT OF ANANCWL posinoN AS AT 31 MARCH 2025 2025 2024 Flxed ass•ts Tangiblg assets 10 7,096.545 7,200,449 7.096,545 7,200.449 Cunent assets Stocks Debtors Inveslments Cash at bank and in hand 12 49,378 116.816 72.329 295.849 39.799 265,143 69.375 218,862 13 .14 534.370 593,179 ' Cfedrtofs." amounts fallng *ithiTr c 15 (177.871) f189.555) Net ¢urrent asvt$ 356.499 403,624 T¢)tal ￿￿ets less ¢uriEnt liabllltles 7.453.044 7.604,073 Net assets excluding pension asset 7.453.044 7.604,073 Totsl net ass¢ts 7.453,044 T,604.073 Chaflty fvnds Restricted fijnds Unr•strlcted funds 17 17 476qoe2 1686.962 5,100.368 2,503,705 Total funds 7.453.044 7.604.073 Th&.Tru$tge¥ acknowle(*Je their respOnsits￿lI¢S f¢y Compl￿n9 wlh the requwemtnts d Ihè A¢t V*ith r•spe¢t to a¢cwntin9 records and preporntiry) of ststements. Page 1q UNCOLNSHIIIE 80MBER?COMMAND,IAEMOiIIAL .IA Company Lwiiitod tsy.Guararite¢) - REGISTEREDINUMBER.":'07603668-, CONSOLIDATED STATEMENT OF FINAJ4CIAL posifioN (CO*￿INUED) AS AT 31 M*RCH 2025 The fin$ncial ststem¢nt$ have baen prepared kn a¢cordm wilh Ihg pr￿tsk)n$ ¥p￿1¢0b19 lo •ntb1￿5 subject to the small companies regime. The ffinandal statements approv8d and ￿t￿Y{s￿￿ ksue byth• Tru￿8¢S ￿ 23 Juty W25 8nd slgned on their behalf by. lioLJ G,L ACM Slr M Grayd CBE FIiA¢S The nole5 Gffl pages 20 to 40 form part of thes¢ firwdal slateM￿. P¥go 16 IXCOLNSHIRE BOMBER'COMMMD,PIEMORJAL IA compa.ny Lilmltedtby Guarants81 'REGISTERED,NUMBER: 07102666 COMPANY STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025 2025 2024 Fixèd ass¢ts Tangibb assets Invtrsim￿ts 10 11 7.088.933 1110 7. 192.537 1¢ 7.009.033 7.192,637 Current 48gets Debtws Investments Cash at bank afKI in hand 13 117.047 72.329 264.761 260.290 69,375 189,329 14 454.937 518.994 Crerfitors: amounts.Ning due *ithin t 15 (90,9261 (107.558) N•1 cu¢r•nt assels 364.011 411.436 Total as￿1$ less GuThent Il#blllties 7.453.044 7.6Q4.073 Net ￿sets ex¢ludlng pènslon asset 7,453.044 7.604.073 Total net assets 7.453.044 7.604.073 Ch•rlty funds Restricted Unre3iriL*ed funds 17 17 4975.082 1477.962 5.100.368 2.503.705 Total funds 7.453.044 7.604.073 The Compwhgs r￿ movern8nl in fvThJs for the ￿ was 4151.0291 (2024. £250.996). The Trustees acxno￿dge Iheir resporbsiblitws for o)mpliw *ilh the req￿rements of tho Act wlh resp8rt to Page 17 I NCOLMSHIRE.BOPABERICOiIM*J4D MEMORIAL .'{A"Coriwany Llmlted by.Guarants¢l" .RÈGISTEREDINUMBER: 0760266E. COMPANY STATEMENT OF RNANCIAL POSITION {CONT114UEDI AS AT 31 MARCH 2025 The financlal statements have been prepar&J in acc4¥dw¢è wwsions applicabb& to •ntitio8 $ut¥'ect to Ihe smal companies regime. Thg financlal stalem8nts apmed and wknised for by the Trustges ￿ rJ JU￿ 2025 and signed on their behalf ty. ACM Slr M Grnydon GC E FR**S The note8 on p•9es 20 to 40 fLYm pwt crfthese finanoa Slatements. Pag¢ 18 UNCOL*NSHIRE BOMBÉR'COMPAANDIMEMORIAL. (ACompa.ny.Llmit•dlty Gu¥Jn¢o•1 CONSOLIOATED STATEMEKf OF CASH FLOWS FOR THE YEAR ENDEO 31 IAARCH 2025 2025 2024 Cash flows from operatlng actl¥ltles Nel Cash usfyy n operatln9 Xli￿tieS 155,601 268.581 Cash tlows from inv•stlng actlvhle5 Dividend5. Interests renls from ii¥¢skngnts Purcha$8 of langible fued assets 3.386 (82.000) 6.570 (34.473) Nei cash used In lftv¢sling adfvStl8s (78.614) 127.903) Cash flows fr¢)m finan¢lng a¢tivltles Rep8wnents of (775.753) Met cash provld•d byJlus•d In) finaftdng •ctl¥itl {T15,7531 Chang• kn cash and cash equiva￿￿￿ in th• y•ar Cash and cash ￿U1Valents at thtr be9inning of thg year 76.987 ($35,075) 753.937 218.862 Cash and ¢Ash •qulval•nts at th• end ot the ye¥ 295,849 218.862 The no*s 20.10 40 ltym partoftheso fI￿nI￿al 5tst8Me￿s Pagè 19 LINCOLNSHIRE,BOMBERICOMMANOIMEMORIAL IA Company Llmllediby GtsArnnt¢¢) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 G•nornl Inforn￿t￿l Lirthn$Pure Bombor Cc*mmand Mernorial 13 a prwate ciNnpony: limitod by gJorant¢o wthoul charo, capital, registered in EryJl￿d 8nd Wdc%. In Ihe evont of bwn9 wound w). the liability in respect of the guarantee is limit￿ to £1 per member of the ¢ompany. Thc compan￿5 fQJtstered number and reglstefed office address can be found in the Tnjstees gnThJal reim TM prewitatton ¢urren¢yd financ481 slatefflents is th• Pound Sterlityj 1£). AccouJ)Ilng pollci•s 2.1 Basis ¢)f proporatlon of finan¢ial *t#t•mortts finan¢ial statements ha¥e been prepared In acctrdarte vAth Ihe Charitses SORP (FRS 1021 . AccounlirrfJ and Reporling by Charititrs".'Ststement of Recommended Prnclico applublo lo charllies preparing their acoJunts rn accrydance Ihc Firwciaj Repx)rtirrfJ Slandard appI￿able in the UK and Republic of Ireland (Fn: 102) (effective 1 January 2019). tho Financlal Roprytin9 StJnd3rd applicable in the UK arKI RewbfK of IrelaTrJ IFRS 102) and th8 CoMpan￿S A¢t 2006. Lincolnshwo Brynber Commw*J Mgmryiol meets the definit￿￿ of a public benefft entity under FRS 102. Assets liabiltbes are irmtialty fycognised at 1¥5torKal cost or transadion valug unless OlheNs$ slated bn th8 rel&¥ant a¢counting p)Iw. The C￿OI￿￿al¢d ￿tatement of Finawa A¢ti4rybes (SOFA) and ￿￿50]KIatCd Statcmenl of F￿ancIal PositioTr conscAhlatè Ihe financial sl*ments of thc c￿panY and IL ￿l￿￿1d1&ty vndertuking.. Tho r•s￿lS of the subsidiary arn ¢LMisoI1(18t•d on a kn by basi> The Company has tsken thantage of exernpticfft alowed Ur￿Ly section 408 of the Companies Aci 2006 and has rn)t presented its own StateM￿t of Fwwn¢ial A¢tivrfies u)" th•so financial statements. Pagg 20 UNCOLNSHIRE BOMBER COMMAND MEMORIAL IA Company Lknlt•d,by Guafant¢• 140TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng poll¢l•s l¢ondnu•d .22 In¢om• All income Ys recc*3nl*J ¢)nce the Ccrfnpany has ènthlement lo the inc￿7e. It Is probabl8 that th& inwme wll be receive¢J arwj Ihe amount of incorna receivat4e can be meaSU￿d rellably. The rwyuon of in(JJme fr￿n legarAes is dep¥wjentrc￿ estsbltshir¥J enliU8menL tho probèblity of rec￿p1 and the abikty to estimate suffiaent a¢curacy th8 am0￿1 r￿e1Vable. Evidenc8 01 entiuement to a legacy ex¢5ts when the Company ha5 suffident evidence that a h?$ been lo them (through knowledge ol the existe￿2 ol a val*J *ryll 8nd the deaih of th& benef8Ctorl 8nd the exfjcutor is satisfied that the mrty kn qugstion *ryll not ￿ TeqLHred to satisfy daims in the estaie. Re¢eipl ol a tegacy mu51 be reo>gnt$ed when il is kxrknble that it V+ill be r￿1ved and Ihe lair value of the arnO￿t re¢eivable, vthich generdmy be the expected cash amount tr> be distr*JuW to the Ctynpany. Can be rdKqbly measured. .Gr8rts are Induded in the Statement of Finandal kbvit*s a re¢¥ivable basi8. The balance ol income receNed for specrftc purFK)ses but Mt exFended dumg the period 15 Shown in the relevant funds on Ihe Balartt Sh8gL Where Incomg rncoiv¥d in advance of entitjement ol receipl. its ￿CognI1￿￿ Is defefred and induded in ¢redilorn a5 deferred irtcome. Whefe eniillement occurs baftyo Irwne 1$ ro¢fji¥e<1. th? i￿¥ is accwed. Gifts in kind donat•d fty diStritMAb￿ are wKtuded at ¥aluafkn and ￿COgniSed as i1￿yThe when they are di8tritrArted to the projects. Gifts dC￿ted for resale are In¢1￿ as Ir￿Me vthen they are s(4d. Income lax recoveraile in rglation to rec91¥￿1 ￿dfjr Gift Ahj w d¢eds of ¢¢vgnanl 1$ re¢cwJnlsed at th• tim8 of the dtwtion. Inc¢me tsx re¢overabEe in Io fNestrnent iicthne is reuwL80d at the tim& Iho invesbnent incomo ss receiv8lAe. 2.3 Exp•ndlture Expen(knJre is iecogrised once t￿8 15 a legal or constructwe obl19ati￿ to transfer eojnomic b•nefit lo a thlrd paty. it is wobatrAe that a transfer of eC0￿MiC benefits will be r•quired in settlement and the amount of the 0￿￿34t10n can b& measured relthy. Exp8nditiJr8 15 Classrf￿ by a¢tivity. Thg ¢L)sts of eth ¥¢tiwty a￿ madè up of the total of direct cx6ts and shared costs. Inc1￿j1n9 support costs Involved kn undertakI￿j oach thty. Direct c£6ts atttibutable to a sfftgle activity ar8 allocoled directly to that actiwty. Sh¥ret1 ¢osts vthh ¢ontritMrt• to morè than LTh a¢ll￿ty and $upk￿ ￿$ts which are noi attn.butat￿O to ¥ singl¢ acts￿￿ •r* apportioned betr*ften tho* adiwbes M a basis ¢onsi$t¥rtt with the use ol resources. Central stsff ¢o¥ts are alhxatsd on the basis ol time spenL ar￿ dèpr•¢iaiI￿l charges allocated on the of the a55eVs use. Support costs are those costs incUTh￿ directy in supm of expendlture on the objecttves ol the company antj include project management carried rxrt al HeadquartW5. Govemance costs a￿ those in¢urr8I in ¢onnection with •*ntrislfattcffl ol th• a)mpany cunpkan¢e constitutional and statuw requirwnents. Expenditu￿ ￿ ralsiThJ IuKts indthles an expen(thtUTe wKxwred by the lo ralse funds for its chwitsbte Pl￿0$e5 and ¢￿ts of all fvndrdisirKJ a¢#Nllie$ events and rkyFcharitable Irg(ling. Expenditu￿ M charilatle acbvbi*s vK#Jrred i>n dire¢dy ￿ertakIng the activit￿ vthich futthBr the Group's objectives, as weu a5 ￿ associ*ed support cL6ts. Pa9e 21 UNCOLNSHIRE.8OMBER COMAIAND:MEMORIAL (A LDlmll•diby Gu•rarrtM) NOTES TO THE FINANCL4L STATEMENTS .FOR THE YEAR ENDED 31 MARCH 2025 AGcountlng poll¢l¢s Icontlnuedl 2.3 Ex￿ndItuWe (cont1n￿dI JI exp•rnliture is inctsive of i1￿CO¥er￿ VAT. 2.4 G¢)vernment grants Gmmment grants relating lo tsngible r￿ed assets ara tr¢•ted as deferred inGomo and released to th8 Cortsolidated Stalement of Financial Acti￿11e5 over thg ¢¥￿¢￿d useful live5 of the assets con¢omcd, Olher granls are c¥edited lo the ConvolK13ted ststemenl.of FinanG￿l hdivit10￿ tho 2.5 Interest rrtelvab Interest on lunds hold on d*posit is indtyJ•d rnc¢ivable and th& amount m8asur•d reliably by Ihe Group: tris is narm*ty notification ol interest paid or payablè bytho instituti with whorn the funds are Ilepo&ted. lfj Taxatl¢n The Cc#mpaw is conshjered to w th8 tests set out in Paragrwh 1 sched￿ 6 of th& Finw Act 10 8nd therefore it meot tho dofiniticffl of a cha.ritable company lor UK corporglion tsx purptsse". .A¢￿T￿Ingty. ￿ Ccmnpany is potential￿ exempt Imm tsxation in respect of income or capital gains recwvttd vAthin calegor*s c4)vered by Chapter 3 Part 11 01 the Corporation Tax Act 2010 or Scction 256 of the Taxation of Chargeatse Gains Act 1992. to the extent that such or gains arè ap￿1#￿ èxdusively to tharita￿a purposes. 17 Taiolble fixed assets and depreclatlon TaTh)ib￿ fLxed assets c05tirwJ £NIL w more are caWlk%ed arvj rectrjnised bthen future gconomlc be￿fits are probable and the or Yalue of lh8 as6el can be measured reliabty. T￿gible r￿ed assets are irM• re¢ognW al c4xt Mter recoJniticffi, under the mo on inv9stm￿1S. in the crmsc4bja￿1 statement ￿ rwwicial acbvitses. Inve5tsnents In 5ubsidi8rns w• ¥aW * u3St Iw prowsw for impaimient. 19 SI￿￿¥ Sto¢ks are valued at the ol cost and net realisabfe value after making due allo¥Yance for obsolete and S￿.rn￿ng stocks. C¢xt wKludes au dire£a costs and an appropriate PrOF￿￿￿ of fixed and variall• ovetheads. 2.10 O¢btors Trade and olher debtots rec¢giised at sthmwt amount after any trade dkscounl offered. Prepawts are vaJu8d at the •xwnt prepaid n8t of any trade th￿O￿nIs due. 2.11 Cash at bank and In hand Cosh at bank in hand indude5 cash aTh1 slw)rt-term hKJhty irwesknents wilh a short rnat￿ty of three monlhs or less from the date of acwistion oropwdrG of the d8posIt CY slmllar accy)¢ Page 23" UNCOLNSHIRE BOMBER COMMAND MEMORIAL (AC•)mpany Llmlted by G￿rant•6) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 A¢¢ountlng pollcks (continued 2.12 Li•bili¢ies and wvl$lon Liabilities are recognised vthen therè is an djfigaticffi at thè B8[a￿e Sheei tste as a ￿Su[l of a past event It is probable that a trans18r of eccwmk benefit %wJl be ffequi￿d in s&tllomont. and Ihe amount ofthe settlement c￿ b• •slim¥led relobty. abilities are r¢wnis•d at am￿nt that ￿ Company anlicipat•$ it pay to $etU¢ the debt or the amount it has reGeived as advanced for tho goods or servires it musl provide. Prowskybs are measured at the best estimate of the amounts required to settle th8 obliga1￿. Vvhtre Ihe effect of the time value of mcw 15 matwial. the provision is based on the wesent valuo of those arnounls. discounted at the wfrtax dis¢¢xmt rate that reflects thè risks specifi¢ to th& ligbilily. The unwnding ol the discount is rec￿JnIsed in ts Consolhlateo stolem￿t of Financial Activities a5 8 fill￿¢0 cosL 2.13 Flnanclal Instruments The group onty entets into basK irtstrwwl I￿rI￿tiOnS thal result in thg recognition of ffnancAal awts and lli te vmnt assel wwesknents. olhcr dobt¢f44 and cr8th￿s and loans. Financial assets that are measLKed at cost and amortised cost are assessed 81 th¢ end ol each reporling period obiecfive avidence of impaimicnt. If ot4odiv¢ ev￿enCe of impirmtnt ic found, an impairment knss 1$ recognised in the incc¥Y)e ststement. For fThncial assets rneamd at amcffbsed c•sC the impalm￿l btsss is measured as Ihe difference b&tsv8en an assefs Carryi￿ am(Kmt kyesent value of estimated Cash flows discounted at Ihe assefs orgiThal effeclive interest rale. If a finanoaS asset has 8 vaiiab]e interest rate. the discount rate lor measuring any Impaimi•nt loss ks Iho ¢urrwrt #ff8ctibT interest rate d*rmined und¢r the contrxt. For fin￿8[ ¥ssets mèaswed 81 cost kss wnpaimenL the impairrnent Ioss 15 measured as the diff•r8ne4 bets¥een an asse¥s CarryW￿ amount and best estimate. which is an akwroximaliM of the ¥mcwAt that tr* c¢ynponyvAyJd recwv8 the asset rf it V•pre sold at the fina￿la1 rewrurg date. rinartcial a55et5 arhd liabihlie3 are ¢)ffset thc amtyJnt re￿ted in thc ptslcm¢nt of financi31 posil¢on there is an enrorceable right to set off Ihe recc9nised amounts and Ihere 1$ an intention to setue a net basis LY to wfLse the wtarrfl setde ihe Natslty simuft8neously. 2.14 Penslons The Grw operate5 8 dgfined cmtributh)n penskn s(*wme the p￿slon charge rewes8nts tho amounts paya￿8 by the to the fund H) respact oflhg Page 24 UNCOLNSHIRE BOMBER COMPAAND MEAIORIAL IA Company.Uinltsd by Guaranle•) NOTES TO THE HNANCIAL STATEAIENTS FOR ThE YEAR ENDED 31 MARCH 202S Ac¢ourrtlng pollcles {contlnu•d) 115 Fund a¢couTrting General fvnds are uNestricted funds vthich are a¥all￿e u58 al Ihe discretKJn of the Trustèes in ftJrthe[a￿e ol the general objec￿5 of the GrOl￿ and have not been d8signated lor other purpose& Restricted lund8 are hJnds wlith we t(1 be used in x£wdance with Specif￿ restrictions imposed by donors or which have been raised by th? Group kn partKular purpose5. The costs of rgisSng and adrnwbiSteriAg such funds are charge(l against th8 SF*dfic lund. The airn and use of each restricted fund is Set out in the ntsk5 to Ihe financ￿ ststements. Investment In¢(￿0. g￿nS ar￿ k>sses are alkncat￿l lo the apprqThle fund. In¢om• from donations and l•gacl•¥ Unr•strf¢ted Restrlcttd funds funds 202S 202S Total funds 2025 Tolal funds 2024 Oonolio Grants 247.922 247.922 19.050) 291,937 231.000 l9.050) 247.922 (9.0501 238.872 522.937 Tot812024 291.937 231.oc 522,937 Inct)m• frorn charitable aGtlvltles Unrnstrfct nds 202S Total lunds 2025 Tolal lunds 2024 475.509 475,509 462,683 Tolal 2024 462.683 402.683 Page 25 UNCOLWSHIRE BOMBER COMIIAND MEMORIAL. .(A C¢)ftwny.Llmlt•d.by Guarantee) NofES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S Inveslmgnl Incom• Unr•strict•d funds 2025 Totsl funds 2025 Tot81 funds 2024 Invesknont Sncom•- I(￿1 cash 3.386 3.386 6.570 Tcrfo12024 6.570 6,570 Pag8 26 UNCOLNSHIRE,BOMBER COMPAAND MEMORIAL IA Company Llmltod'.by Guaranteej. IIOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Totsi •xp•nd•d AvEar VAS a$ folb**S." Group 2025 GroÉ 2024 Company 2025 Company 2024 No. General stsff 41 .35 No eniploye• recei*￿1 remuneration amountry to more than £60.000 kn 91th8r yeaf. Trnxtees. r•muneratlon and expenses Lhjring Ihe year. one Tntstees has been I￿n￿er8￿ or has receiNEd other bentrffts fr¢th #n efflployrnent the C(￿nPanY. The vak* ofTntstees' reffiuner*i￿ and other beneffts was as follow8.' 2025 2024 Mrs N M Van Der Drift 08E 4,800 Page 28 ,UNCOLNSHIRE BOMBER,COMMAND.MEMORIAL .{A Ctyiipany Llmll¢d by Gu¥ant•o} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 'Ty￿1??¥. r•muner•tlon and expens•$ (continued) OuM9 the WKl•d 31 Marth 2025. expwws lotsllrs £129 were reimbursed or paid dlreGtly to Trustee (2024 . £NIL to Tntsts•). These axp¥M3 rewed to *c￿n0datk￿ whtch vras requwed as port of th¥ trust*'s role.. 10. Tan9lble r￿ed assets Group Fr￿1￿Id Plant and Flxtures and prop•rty machlnery ffttings C•mput•r equlpment Total COBI or valuatlon At 1 April 2024 Additiefis 154968 15.245 47.479 45.140 19.882 2,147 77.645 19.468 8,300.974 62.000 At 31 Mafth 202S .171,213 92.619 22,029 97.113 8,3B2.974 D•prec5atlon At 1 ApTiI 2024 Ch8rye lor the year 997.411 164.955 14998 14198 11.970 1447 77,146 1,100,525 184904 A131 Marth 2025 1.162,366 28,196 14,417 81.450 1.286.429 Net Imik valuo At 31 Marth 2ff25 7.1)0I847 64423 7.612 15.663 7.096.545 At 31 Alarch 2024 T.158.557 33.481 7.912 499 7.200.449 Corymny Freehold Plant and Computer property machlnery equlpm•nt Total Cost or valuation Al 1 April 2024 8.154968 15.245 47.479 44140 77,64S 19,488 1,281,092 79.853 At 31 March 2025 .171213 92.fj19 97.113 8.360.945 P89¢ 29 LINCOLNSHIRE 8OM8ER COMMAMD MEMORIAL. (Acompany UmA•diby.Gu•r•r•t••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 . 10. T•Rglbl• Ilx•d assets (¢onllnued} Company {Gontlnu•d) Freehold plant and property maehin•ry Computer gqulpmènt Total Depreciatlon At 1 WI 2024 Charg¢ forth¥ y 997,411 164.95$ 13.998 14.198 77.146 4,304 1.088,SSS 183.457 At 31 •Awch 2025 1.164366 28.196 81.450 1,272.012 Not book value Al 31 Mor¢h 2025 7.008.847 64.423 15,663 7,088,933 Al 31 March 2024 7.158.55T 33.481 499 7. 192,537 11. Flxed a$srf Investm•nts Invtstm•nts In subsldlary ompanles Company Cost or valuatlon At 1 April 2024 100 Al 31 March 2025 100 N•t b•ok valu• At 31 Mar¢h 2025 100 A131 Meth 2024 1¢ Page 30 UNCOL.NSHIRE BOMBER COMMAND MEmOR￿L. IA'Comp•ny Umite(Ilby Gu•rnnt•o) NOTES TO THE FINANCIAL STATEMENYS FOR THE YEAR ENDEO 31 MARCH 2025 12. StOGkJ Group 2025 Group 2024 Raw m8teriaL* an(1 c￿[￿n8b1&S 49,376 39,799 13, Debtors Group 2025 Gmup Company 2024 2025 Company 2024 Du¢ wlthln one y•ar Trade debtors Amounts owed by group un¢*rt¥kiThJs 0th8r deblors Pr•payments and accrued in¢om¢ 10.326 12841 3.658 14583 934 91872 7,185 7.188 3.038 242.879 (934 99.556 3,038 249.264 116.816 265, 143 117.847 260,290 Included within debtors are arnounts thie on variryjs gr8nls awarded where conditions have mel for recognition wthin the financial statements. tsjt cash is i*d to gxpendilure on the project. Thefelore. exact dates ofrecelpts of these amLYuts are ￿CerI￿1rL .14. Cunent ass•t InVestm￿ts Gn>up 2025 Company 2025 Ctynpany 2024 2024 Listed invesfments 72,329 69,375 72,329 69.375 f& Cr•dltors: Amounts falllng du• wlthln one y•ar Group 2025 Group Comparty C•ny 2024 2025 2024 Trad8 ¢r•( Olhw laxalion and sooal seuwity Olher rAedltors A¢eruals and def8rred in￿rne 49J57 34.459 31.838 62217 91239 39.158 17.632 39.526 29.676 1784 28.690 29.TT6 IQO39 1600 14 129 11.790 17T.871 189,555 90.926 107.558 Page 31 LINCOLNSHIRE BOMBER COMMAND.MEMORIAL {A compa.iiy Llmltad by Guarante•) NOTES TO THE FINANCIAL. STATEMENTS FOR THE YEAR ENOED 31 MARCM 2025 15. Credittys: Amounts falllng due wlthin one yw l¢ontlnu•d) Group 2025 Company Compeny 2025 2024 2024 16. Finan¢lal Inslrumwts Group 2025 Company Company 2025 2024 2024 Flnaftclal ass•ts Finanoal assets measured at fwr value through the statement of finBn¢ial athity FIna￿l* assets Measur￿ at anc 1.138,491 706.444 1.843.943 171.357 604.535 228,729 64.482 8.106 4100.360 (9.050) 1325.236) 4.766.082 T(tsl ol funds .7.604.073 1.686.040 11.841.222) 4.153 7,453.044 Page 33 LIMCOLINSHIRE BOMBER COMMAND.MEMORIAL (A Company Llmh•d by Guarnnt••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S 17. . Statement of funds {¢ontlnued) stat•ment ¢1 fvnds- prlory•ar 88lancg al 31 March 2024 8alanGe 01 l Awd2023 Gainr fLos$gs) Inm Expen(*lure Unrestrkted funds Ger*ral F.urtds Tradirt9 2.319.828 475 761.190 . 878. (687.085) (823.1021 5.895 2399.828 103,877 2.M303 1.639.694 {1.510.18 4895 2,503.705 R•$trkt•d funds Inlemallo￿l 8tsmber Command Centre HLF Fund MOO Cha¢h¥ick Centre F￿d NKDC Calerirg Fund BIFFA Awafd FuThfirvJ WREN CRF SEGL 1.19Z916 T22. 185 1.934041 179.352 632.759 240.969 70,086 (26.534) {14.402) (4T.049J (4.000) (14.112) (&120) f3.LWJ (180) 1, 166,382 938.783 1.890.992 175.352 618,647 234,849 67,077 . &286 231.(X¥) 4.984,774 231.0th9 (115.406) Slt)0,368 Total of funds 7,353,07T 1.870,694 (1.624593) 5,895 7,604,QT3 P•9• 34 UMCOLNSHIRE BOMBER COMMAND.MEMORIAL {A Cr•mpany Umll•d by Guarnnte•) NOTES TO THE FINANCIAL STATEMENTS FOR The YEAR ENDED 31 MARCH 2025 17. Stat•ment of funds (contlnuod) De5cripllon, na￿￿ and pUrF￿¢ of reslrithd fund&. Intemational B￿lber Command Centre The memori4 lund is fomied from dwtsons arrfl grarts fLY Ihe roalisalir)n aThJ S￿¢￿ent operation of Ihe Intem8tion81 Bomber Commartd Centre. HLF Fund The Heritage Lottery Fund IHLF) w8$ avrdrded the d¢velopThent of the Chadwick Centre. memorial gardgn and archive and'is as Ind **wi exper#J*￿¢ O¢allS. MOD Chad￿Ck Centr8 Fund The Ministry of Defence fund has been avrnwded fr￿the ¢*￿tru¢bOn of vsitor and ethKational lacilibes. NKDC CateriTrJ Fund The lund has been awarded for the ¢&￿5￿ell￿ of res1o￿tt facArfes al the centre. BIFFA Award Fu￿1 Thg gmt ha$ ba￿ ward8d for the cor61ftth of memorHI walls stones. WREN Fund The Waste RecycliTrJ Envwonmentsl (WREN) gr4Ath8$ 1)eon 8war¢led for the lanLlscapJng ol tho site. CRF The Culturnl Recovery Fund ICRF) was awdod to assisl Ihe contre in I￿0ver1r0 unavoidabl$ cDsts durirYJ the cov1￿19 paNJemic and to assist in r&o￿Try imwmments. SEGL The Smart Energy Grets LIn￿￿￿h1O (SEGLI pnt was awarded lo asbst in the pjrthase ol solar panels for the centre. 18. Summary of funds Summary offunds- current year 8alan¢e at 31 March 2025 Balaoc• at 1 Aprll 2024 Galnsl (Losses) Incom• Expenditure General furnls Reslricted fund$ 150&70S s.10￿368 1.fj9S.09D (1.515.986) {9,050) 1325.236} 4153 2.686.962 4.766.082 7.604.073 1.686,IJ40 (1.841,2221 4153 7,453.044 .Page 35 UNCOLNSHIRE,80MBER,COMIAAND'IAEPAORIAL (A Compny L.Imltod by Gu•rdnt••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 l& Summ8ry offvnds (¢ontlnu•d) Summary of funds- W10r￿ar Bglanc8 et 37 Marclj 2024 Balance al Gainw l Ayil 2023 Incom• Expenthture (Losses) G*￿ra1 fuThJs Restricted lund$ Z368,303 4.984.n4 1.639,694 {1.510,187) 231.L (115.406) 4895 2,￿3,705 Al￿,366. 7,353.077 1,870.694 (1.625,593) 4895 7,604,073 19. Analysls of n•t ass•ts l)•tween funds Analysls of net assets l>etween funds- currenl year Unr•strlcted Rostri¢tsd fund$ fi•nds 2025 2025 Total lunds 2025 TarottAe rtxed assets Current assets Cre rat• Al 31 Mweh 2024 Cash flows movements 2025 C8sh 8t bank in ha￿1 quid investments 214862 .375 76.987 29S.849 72,329 2,954 288.237 76.987 1954 368,178 23. Capital ¢ommltm•nts Groyp 2025 Group Company 3024 2025 Company 2024 Contraded for but not w>vlded Ih th•s• rin4n¢lal.ststernents Acquisibon of tangiNe fixed assets 1T,209 17.209 2& -Penslon commitments The group operates a dofr¢d pfjnsth schome made contribubons 01 £10.26812024 - £7,575> dwing t￿ ￿r. pa￿ 38 UNCOLNSHIRE BOMBER COMMWID MEMORIAL. IA CryaThy Umlted by Guarant••) NOTES 70 THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2& Operatlng leas• ¢ommJtm•nts At 31 March 2025 the Grw and Ihe C(xnpany had commtbrents kn make lulur• minlmum lea$6 p￿ents undw rnn4ancd1*4e opwatiry leases as folbvA'. Group 202S Group 2024 Company 2025 Company 2024 Not later than 1 year Later than 1 year al￿ not later than 5 ￿r5 Later than 5 years 1769 10.246 280.347 2,276 8.207 220.888 2.769 10.246 280.347 2.276 8,207 220,888 293.362 231.371 293.362 331.371 Th8 Idknwjng loase paynents ha￿ be￿ rec(banised as an 8xpense in the Statsrnent of Flnancial Activities Group 2025 Group Company 2024 2025 ompany 2024 Operatirg 1g•$e fents 4133 2,276 4133 2,276 26. Rel4ted pwty transactlons During the year. the truslfjes and related parties c￿tri[>Jted E36.Wl (2024 - £46,646) to the charity. representry donations and the suFportof fundraksw￿ events. One of the trusle8s 01 tho charity 1$ also a direthr of E&8ence Events SoKJtions Lttl. Duftng Ihe yoar, the ¢harity rnade purchase5 totalhng £117.106 12024 £111.8111 in relaticffl to adminBtrabon SLJPPOrt receNed frLKn thè compar)y. In the s￿, the ¢trArity also pJrchased sc¥ne items for Sale totalling £15.000. Th8 balance owe(I to EsSe￿e Evenls ￿Ul11Th Ltd at tho was £10.50512024. E10.6601. One of the trnstees of the charities 1%gs mats a loan to Iho dwrity to wpF*>1 on900￿ *wk. At tho ywr end, the balance of this loan was £12.339 PrJn¢lpal ¥ubsldlaries The f￿10￿r￿a was a subsidiwy undwlaking ofth& Company. Name Company number Charlty Registered offl¢• or wiD¢lpal veglstrntloD placo of bu5ines$ nuM￿r P¥ge 39 UNCOLNSHIRe BOMBER COMhiAND,MEMORIAL (A Coinp•ny Llmlt•d by.Guaranteel NOTES TO THE FIIIANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 27. Prlnclp•l T￿b$Id{ar1ffts (¢ODtlnued) Interrnllonal Bomber Command Centre 1C650172 Nla Llmitsd ltemalional BL%nber Comrnand Memtyl81, car￿￿ Averw, ncoln. Lincs, LN4 2HQ Prjnclpal a¢ll¥lty Class of shares Hokllng In¢lud•d IA >nsolid*ion Trading activilles of a Ordinory Iste￿d chartty I(MN Ye5 The finan¢W ￿Ldts of th? subsithary for Ihe.Jearwere: Nam• Incom . Exp•ndl¢uro ProfiU(L05s) I Surplusl (Dolleltl for the year. Net assets Inlemational BOrn￿r CarnmarKI Centre Llmited 943.507 2{766' 100 Page 40