**Charity Number -** 1148972 **Company Number-** 7992376 # **ANNUAL REPORT OF THE TRUSTEES OF THE GLIDING HERITAGE CENTRE FOR 2020/21** ## **1 REFERENCE AND ADMINISTRATIVE INFORMATION** This is the report of the trustees of the Gliding Heritage Centre (GHC) covering the period from 1 April 2020 to 31 March 2021. The reference and administration information is given below. **Name -** The Gliding Heritage Centre **Charity Registration Number -** 1148972 **Company Registration Number-** 7992376 **Principal Office-** C/O Lasham Gliding Society Lasham Aerodrome Alton, Hampshire GU34 5SS **The Charity’s Trustees-** Dr A Newbery, Chairman Mr G Bradney, Secretary Mr J Ben-David, Treasurer Mr M Wills, Membership Secretary Mr G Pullen, Aircraft and Hangar Manager 1 ## **2 STRUCTURE, GOVERNANCE AND MANAGEMENT** The GHC is a private company limited by guarantee. There are no share holders and any profit cannot be distributed to members. The governing documents are the company’s Memorandum and Articles of Association. The directors of the company also act as the trustees of the charity and they form the Management Committee of the GHC. New directors/trustees can be appointed in two ways: - a. _By ordinary resolution at a general meeting_ . One third of the directors must retire in rotation each year and can offer themselves for re-election. New directors can be proposed for election by any member of the company. - b. _By a resolution of the current directors_ . New directors appointed in this way must retire at the next annual general meeting. The charity has only one class of member. Membership is open to all, with no restrictions. The primary benefits of membership are being able to participate in the activities of the GHC and support its objectives. There are no employees and all the tasks involved in running and developing the centre are carried out by unpaid volunteer members. ## **3 OBJECTIVE AND ACTIVITIES** The object of the GHC as stated in the Articles of Association is: _“To advance the education of the public in the history of gliding, in particular but not exclusively, by the provision of a heritage centre and the preservation of historical gliders, artefacts and records which can be displayed.”_ In more detail, the key aims are: - To educate the general public, and in particular young people, about gliding and its history. - To raise the awareness and improve the understanding of gliding as a sport and to attract new people so that they can benefit from participating. - To preserve vintage gliders, historical gliding artefacts, knowledge and skills that would otherwise be lost to the nation. - To establish an archive of important documents, records and plans, and to make these available in an easily accessible form. Although they are not primary aims the GHC also: - Provides support and advice to other people who own, operate and restore vintage gliders. This helps to preserve the heritage. - Forms an educational and recreational facility for aviation enthusiasts. - Provides a focus for the vintage gliding movement in the UK. 2 The trustees of the GHC pay due regard to the Charity Commission's public benefit guidance when exercising their powers and duties to which the guidance is relevant. The charity complies with the Fundraising Regulator's voluntary regulation scheme. No professional fund-raisers or commercial organisations are involved. Visitors to the centre and to the internet site are invited to make donations but there is no obligation or pressure to do so. The GHC is located on Lasham Airfield. The airfield is owned by the Lasham Gliding Society (LGS) which granted a 25 year rent-free lease running from February 2013. Many of the current members of the GHC are also members of the LGS but this is not mandatory. At the end of this reporting year the membership was 205. At present, the main facilities of the GHC consists of two hangars and a workshop where vintage gliders and other displays can be seen by visitors. The original hangar was completed in August 2013 and a second hangar was opened in the summer of 2018. The workshop was completed in January 2021, as described below. The GHC is a working heritage centre where vintage gliders can be seen both on the ground and in the air. GHC members, who are suitably qualified, have the opportunity to fly some of the gliders and thus keep alive the knowledge of how to operate historical aircraft of this kind. In normal times, members of the public are able to visit the centre on Sunday afternoons and at other times by arrangement. Flying days are held on the first Sunday of each month (subject to the weather) when visitors can see some of the vintage gliders flying. In order to make the GHC as accessible as possible to members of the public there is no charge for entry although most visitors make voluntary donations to the restricted fund which is used for the development of the centre. The running costs of the centre are covered by the membership fees and by the extra contributions from members who enjoy an incidental benefit by keeping their privately owned vintage gliders in a hangar. ## **4 ACHIEVEMENTS, PERFORMANCE AND PLANS** Due to the COVID 19 pandemic the GHC was closed to visitors for the period covered by this report although some virtual access for members of the public was maintained via an internet site, a Facebook account and occasional newsletters. The main achievement was the completion of a purpose built workshop. This was urgently needed for the following reasons: - a. To enable us to maintain and restore the gliders in the collection. - b. To keep alive the knowledge and skills needed to work on vintage gliders. - c. To provide a viewing room where members of the public could attend talks and see the restoration work underway. 3 The workshop was funded through a large bequest from a former member in 2019. In the Spring of 2020 the main shell of the building was erected by a contractor and during 2020/21 the project was completed by GHC members working within the COVID safety guidelines. The tasks included laying the concrete floor, building the internal rooms and installing the equipment. The general layout of the building is illustrated below and the photographs show some of the work in progress together with the completed visitors viewing room. This was the most ambitious project undertaken by the GHC since its formation. The completion of the workshop during difficult times was only possible because of the enthusiasm and commitment of members. 24m **----- Start of picture text -----**
Working Area
Lobby
Machine room Store Office Public Viewing Room
3m Toilets
**----- End of picture text -----**
## _General layout of the GHC workshop_ _Construction work in progress with GHC members laying the concrete floor._ 4 _The completed visitors viewing room. The large windows on the right allow the work underway in the main area to be seen._ During 2020/21 two extra gliders were donated to the centre, the prototype EON 460 and a Slingsby Skylark 2. This brings the total number of gliders in the collection to 37. The prototype EON 460 Slingsby Skylark 2 When funds are available the next step in the development of the GHC will possibly be to extend the second hangar. The collection is still expanding and we need more space to store gliders including those awaiting restoration. The longer term vision is to add a new building with an archive for historic documents and a museum for displays and presentations. The GHC is in a fortunate financial position. There are no paid employees, the lease is rentfree and all the maintenance work is carried out by unpaid volunteers. The running costs are covered by membership fees and other contributions from members. During 2020/21 the pandemic did not affect the number of members. The future is still uncertain but, all being well, we should be able to weather the storm. ## **By order of the trustees** Signature Date Dr A Newbery Chairman Mr G Bradney Secretary Mr J Ben-David Treasurer 6 ## **5 FINANCIAL REVIEW OF THE GLIDING HERITAGE CENTRE FOR 2020/21** ## **5.1 Funds** The GHC has two funds: ## _**a. The Unrestricted Fund**_ This covers the running costs of the centre. It is used to pay for the following items: - Insurance cover for the GHC gliders, the buildings and public liability - Materials used for the routine maintenance of the gliders, the buildings and the site. (All the work is carried out by members.) - The facility fees that are payable to the Lasham Gliding Society for airworthy gliders operated at Lasham. - General administrative costs - The cost of electricity, gas for heating the workshop and water - Business rates (if these are payable) The income for the fund comes from the following sources: - Membership fees which are paid as regular contributions to the charity - Other occasional donations that are made to support this fund - Contributions from members who enjoy the incidental benefit of flying the GHC gliders or keeping their gliders in the hangar so that they can be displayed to visitors. ## _**b. The Restricted Fund** ._ The restricted income fund is used to develop the GHC facilities and extend the collection of vintage gliders. During 2020/21 the main source of income was donations from supporters and members. In normal times there would also be donations from visitors. ## **5.2 Reserves and Risk Policy** During the current phase of the development of the GHC the running costs are relatively low. There are no paid employees, the lease is rent-free and all the maintenance work is carried out by members. The running costs are paid from the unrestricted fund and they have been covered by the membership fees and the other contributions from members. The policy of the trustees is to maintain the unrestricted fund at greater than £10,000 to allow for unplanned expenses. This insures that the financial risks to the charity are relatively low. 7 ## **5.3 Independent Examination of Accounts** The income and assets of the GHC mean that it is a small company below the threshold and so the accounts are not subject to a statutory audit. The accounts have been independently examined as required by the Charity Commission regulations. ## **5.4 Accounting Standard** The accounts follow the recommendations in the Statement of Recommended Practice (SORP) FRS 102 effective from January 2015. 8 5.5 Statement of Financial Activities Note Ref Unrestricted Restricted Funds Funds Total Funds Prior Year Total Funds Income and Endowments From: Donations 2nd Legzcies 12103 12103 27703 27703 246824 24&824 Total Expenditure On- Charitable Activities -5978 -5978 -14023 -14023 -20(￿1 -20￿1 .23707 -23707 Total Net IncomÈlexpenditure 6125 1577 7702 223117 Transfer Between Funds Other Recognised Gains/Losses Gains on Revaluation of Fixed Assets for Charity's Own Lhe Netmovementin Funds 6125 77 7702 223117 Reconciliaiion of Funds Total Funds Brou ht Forward Total Funds Carried Forward 36792 42917 515298 51E675 552C81 559792 328974 552CBI 5.6 Balance Sheet Note Ref | Total Funds Prior Year Total Fu nds Fixe d Assets Tangi bl e Assets Heritage Asset5 372863 80530 234266 75530 Total Fixed Assets 453393 309796 CurrentAssets Cash in Bankand in Hand Debto r5 1069 244149 S16 Total Current Assets 1069Th) 244665 abilities Creditors.'Amounts fallin due within one ear sc 2370 N et cU￿e nt Assets or Liabil iti es Tots l A55ets Less Cu rre nt Liabl iti es Net Assets or Liabiitie5 Exclud ing Pe nsion Assets or Liabil ities 1064 242295 559793 552091 559793 552091 552091 Total N et Assets or Liabi l iti es 559793 The Funds of the Charity Restricted Income Funds Unrestricted Fu nds 516875 515298 42917 36792 Total Unrestrirted Funds Totsl Charity Funds 42917 36792 559792 552091 io The notes on pages 12 to 15 form part of the financial statement. The financial report was accepted by the membership at the annual general meeting held on 31st October 2021. For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors’ responsibilities: - the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 - the directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts - these accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. Signature Date Dr A Newbery Chairman Mr G Bradney Secretary Mr J Ben-David Treasurer 11 ## **5.7 Notes** ## _**Note 1**_ The charity is run entirely by volunteers who: - Restore and maintain the gliders - Maintain and develop the hangars and the grounds - Act as guides for visitors - Carry out all the management and administrative tasks. The financial value of these contributions is not included in these accounts. ## _**Note 2**_ ||**Unrestricted**
**Funds**|
**Restricted**
**Funds**|**Total**
**Funds**| |---|---|---|---| |**Donations and Legacies**|**£**|**£**|**£**| ||||| |MembershipSubscriptions|5065||5065| |Donations Towards General RunningCosts|7038||7038| |Donations to Establish the Centre||10600|10600| |Donations in Kind(Gliders)||5000|5000| |Donations in Kind(Other)|||0| |**Total**|**12103**|**15600**|**27703**| ## _**Note 3**_ ||**Unrestricted**
**Funds**|
**Restricted**
**Funds**|**Total**
**Funds**| |---|---|---|---| |**Charitable Activities**|**£**|**£**|**£**| ||||| |Insurance|2960||2960| |Glider Maintenance|291||291| |Fees to LGS and BGA|848||848| |Glider Restoration||112|112| |Repair of Equipment|199||199| |Admin and Marketing|419|384|803| |Buildingand Site Maintenance|288|183|471| |Electicity,Gas and Diesel|972||| |Depreciation of Tangible Assets||13345|13345| |**Total**|**5978**|**14023**|**20001**| 12 ## _**Note 4**_ The major tangible assets are the two hangars and the workshop. The policy is to depreciate the value of the buildings linearly over the 25 year period of the current lease which ends in 2038. Some lower value tangible assets are depreciated linearly over their estimated remaining lives. |**Hangars**||| |---|---|---| |At beginingofyear|230631|| |Additions||| |At End of Year|230631|| |Depreciation|12681|| |Net book value at end|217950|| |||| |**Other Tangible Assets**||| |At beginingofyear|3635|| |Additions(Inc. office equipment)|1128|| |At end of Year|4762|| |Depreciation|664|| |Net book value at end|4098|| |||| |**Workshop**||| |At beginingofyear|0|| |Additions|150815|| |At End of Year|150815|| |Depreciation|0|| |Net book value at end|150815|| |**Cost or valuation of all Tangible Assets**
At the beginningof theyear
234266
Additions
151942
At the end of theyear
386208
**Depreciation and impairment**
Depreciation
13345
At the end of theyear
13345
Net book value at the beginningof theyear
234266
Net book value at the end of theyear
372863||| |||| |||234266| |||151942| |||386208| |||| |||| |||13345| |||13345| |||| |||234266| |||372863| 13 ## _**Note 5**_ The current heritage assets shown in the report consist of the vintage gliders which have been donated to the GHC together with their trailers and other equipment. The collection of gliders is listed in the table together with their values. It shows how the collection has grown since the GHC was formed in 2012. The value of vintage gliders is difficult to estimate as the potential market is small and they only change hands infrequently. The figures in the table have been based on recent sales of similar gliders. It is expected that the values the GHC gliders will be static or will possibly increase over time. If appropriate they are re-valued following restoration. The GHC also has an archive of documents, plans and artefacts related to gliding. Although these items are important from a historical point of view they have little or no market value and so they are not included in the financial report at present. |**Glider Type**|**2012/13 **|**2013/14 **|**2014/15 **|**2015/16 **|**2016/17 **|**2017/18 **|**2018/19 **|**2019/20**|**Added**
**2020/21**|**Value**
**2020/21**| |---|---|---|---|---|---|---|---|---|---|---| |Abbott-Baynes Scud 2||||||5000|5000|5000||5000| |Abbott-Baynes Scud 3|5000|5000|5000|5000|5000|5000|5000|5000||5000| |Colditz Cock|||450|450|450|450|450|450||450| |Eon Baby|||500|500|500|500|500|500||500| |Eon Eton|||||250|250|250|250||250| |EoN Olympia 2b|||1250|1250|1250|1250|1250|1250||1250| |EoN Olympia 460|||||||||2500|2500| |EoN Olympia 463||2250|2250|2250|2250|2250|2250|2250||2250| |Grunau Baby|||||750|750|750|750||750| |Jacobs Schweyer Weihe|500|500|500|500|500|500|500|500||500| |JSH Scorpion||||||500|500|500||500| |Kaiser Ka3|||||750|750|750|750||750| |Leister-Kaufmann TG4||||||||2000||2000| |Lo 100||||400|400|400|400|400||400| |Manuel Crested Wren|||500|500|500|500|500|500||500| |Manuel Hawk||500|500|500|500|500|500|500||500| |Oberlerchner Steinadler MG19|7500|7500|7500|7500|7500|7500|7500|7500||7500| |Scheibe Bergfalke 55-11||||||||3500||3500| |Scheibe Flugzeubau Mu13-d|3000|3000|3000|3000|3000|3000|3000|3000||3000| |Scheibe Zugvogel 3b|||||||2500|2500||2500| |Scheibe Zugvogel 3b||||||||3000||3000| |Schleicher K8b||||500|500|500|500|500||500| |Scott Viking||||5830|5830|5830|5830|5830||5830| |SlingsbyDart||||||||3000||3000| |SlingsbyGrasshopper|||1000|1000|1000|1000|1000|1000||1000| |SlingsbyGrasshopper||||||||1000||1000| |SlingsbyPrefect|||3000|3000|3000|3000|3000|3000||3000| |SlingsbyPrefect|||||||3500|3500||3500| |SlingsbySkylark 2|||||||||2500|2500| |SlingsbySkylark 3b||1750|1750|1750|1750|1750|1750|1750||1750| |SlingsbySkylark 3f||||1000|1000|1000|1000|1000||1000| |SlingsbySwallow|1250|1800|1800|1800|1800|1800|1800|1800||1800| |SlingsbyTutor||||||||1500||1500| |Spalinger S21H||||||1500|1500|1500||1500| |SZD Foka 4||2750|2750|4050|4050|4050|4050|4050||4050| |Yorkshire Sailplanes YS53|||||3000|3000|3000|3000||3000| |Zlin Z24|||3000|3000|3000|3000|3000|3000||3000| |**Total value**|**17250**|**25050**|**34750**|**43780**|**48530**|**55530**|**61530**|**75530**|**5000**|**80530**| 14 The Lo 100 is incomplete. The fuselage and tail have been used as a basis for a simulator. The value in the table includes the extra computer equipment that has been added (all of which was donated). A summary analysis of heritage asset transactions is given in the table below. There have been no direct purchases, and no charges for impairment or disposals since the charity was formed in 2012. All transactions are included in the balance sheet. ||**2012/13 **|**2013/14 **|**2014/15 **|**2015/16 **|**2016/17 **|**2017/18 **|**2018/19 **|**2019/20 **|**2020/21**| |---|---|---|---|---|---|---|---|---|---| |Acquisitions|17250|7250|9700|7730|4750|7000|6000|14000|5000| |Revaluations||550||1300|||||| |Total Change in Year|17250|7800|9700|9030|4750|7000|6000|14000|5000| |Cumulative Value|17250|25050|34750|43780|48530|55530|61530|75530|80530| 15 **Charity Number -** 1148972 **Company Number-** 7992376 # **ANNUAL REPORT OF THE TRUSTEES OF THE GLIDING HERITAGE CENTRE FOR 2020/21** ## **1 REFERENCE AND ADMINISTRATIVE INFORMATION** This is the report of the trustees of the Gliding Heritage Centre (GHC) covering the period from 1 April 2020 to 31 March 2021. The reference and administration information is given below. **Name -** The Gliding Heritage Centre **Charity Registration Number -** 1148972 **Company Registration Number-** 7992376 **Principal Office-** C/O Lasham Gliding Society Lasham Aerodrome Alton, Hampshire GU34 5SS **The Charity’s Trustees-** Dr A Newbery, Chairman Mr G Bradney, Secretary Mr J Ben-David, Treasurer Mr M Wills, Membership Secretary Mr G Pullen, Aircraft and Hangar Manager 1 ## **2 STRUCTURE, GOVERNANCE AND MANAGEMENT** The GHC is a private company limited by guarantee. There are no share holders and any profit cannot be distributed to members. The governing documents are the company’s Memorandum and Articles of Association. The directors of the company also act as the trustees of the charity and they form the Management Committee of the GHC. New directors/trustees can be appointed in two ways: - a. _By ordinary resolution at a general meeting_ . One third of the directors must retire in rotation each year and can offer themselves for re-election. New directors can be proposed for election by any member of the company. - b. _By a resolution of the current directors_ . New directors appointed in this way must retire at the next annual general meeting. The charity has only one class of member. Membership is open to all, with no restrictions. The primary benefits of membership are being able to participate in the activities of the GHC and support its objectives. There are no employees and all the tasks involved in running and developing the centre are carried out by unpaid volunteer members. ## **3 OBJECTIVE AND ACTIVITIES** The object of the GHC as stated in the Articles of Association is: _“To advance the education of the public in the history of gliding, in particular but not exclusively, by the provision of a heritage centre and the preservation of historical gliders, artefacts and records which can be displayed.”_ In more detail, the key aims are: - To educate the general public, and in particular young people, about gliding and its history. - To raise the awareness and improve the understanding of gliding as a sport and to attract new people so that they can benefit from participating. - To preserve vintage gliders, historical gliding artefacts, knowledge and skills that would otherwise be lost to the nation. - To establish an archive of important documents, records and plans, and to make these available in an easily accessible form. Although they are not primary aims the GHC also: - Provides support and advice to other people who own, operate and restore vintage gliders. This helps to preserve the heritage. - Forms an educational and recreational facility for aviation enthusiasts. - Provides a focus for the vintage gliding movement in the UK. 2 The trustees of the GHC pay due regard to the Charity Commission's public benefit guidance when exercising their powers and duties to which the guidance is relevant. The charity complies with the Fundraising Regulator's voluntary regulation scheme. No professional fund-raisers or commercial organisations are involved. Visitors to the centre and to the internet site are invited to make donations but there is no obligation or pressure to do so. The GHC is located on Lasham Airfield. The airfield is owned by the Lasham Gliding Society (LGS) which granted a 25 year rent-free lease running from February 2013. Many of the current members of the GHC are also members of the LGS but this is not mandatory. At the end of this reporting year the membership was 205. At present, the main facilities of the GHC consists of two hangars and a workshop where vintage gliders and other displays can be seen by visitors. The original hangar was completed in August 2013 and a second hangar was opened in the summer of 2018. The workshop was completed in January 2021, as described below. The GHC is a working heritage centre where vintage gliders can be seen both on the ground and in the air. GHC members, who are suitably qualified, have the opportunity to fly some of the gliders and thus keep alive the knowledge of how to operate historical aircraft of this kind. In normal times, members of the public are able to visit the centre on Sunday afternoons and at other times by arrangement. Flying days are held on the first Sunday of each month (subject to the weather) when visitors can see some of the vintage gliders flying. In order to make the GHC as accessible as possible to members of the public there is no charge for entry although most visitors make voluntary donations to the restricted fund which is used for the development of the centre. The running costs of the centre are covered by the membership fees and by the extra contributions from members who enjoy an incidental benefit by keeping their privately owned vintage gliders in a hangar. ## **4 ACHIEVEMENTS, PERFORMANCE AND PLANS** Due to the COVID 19 pandemic the GHC was closed to visitors for the period covered by this report although some virtual access for members of the public was maintained via an internet site, a Facebook account and occasional newsletters. The main achievement was the completion of a purpose built workshop. This was urgently needed for the following reasons: - a. To enable us to maintain and restore the gliders in the collection. - b. To keep alive the knowledge and skills needed to work on vintage gliders. - c. To provide a viewing room where members of the public could attend talks and see the restoration work underway. 3 The workshop was funded through a large bequest from a former member in 2019. In the Spring of 2020 the main shell of the building was erected by a contractor and during 2020/21 the project was completed by GHC members working within the COVID safety guidelines. The tasks included laying the concrete floor, building the internal rooms and installing the equipment. The general layout of the building is illustrated below and the photographs show some of the work in progress together with the completed visitors viewing room. This was the most ambitious project undertaken by the GHC since its formation. The completion of the workshop during difficult times was only possible because of the enthusiasm and commitment of members. 24m **----- Start of picture text -----**
Working Area
Lobby
Machine room Store Office Public Viewing Room
3m Toilets
**----- End of picture text -----**
## _General layout of the GHC workshop_ _Construction work in progress with GHC members laying the concrete floor._ 4 _The completed visitors viewing room. The large windows on the right allow the work underway in the main area to be seen._ During 2020/21 two extra gliders were donated to the centre, the prototype EON 460 and a Slingsby Skylark 2. This brings the total number of gliders in the collection to 37. The prototype EON 460 Slingsby Skylark 2 When funds are available the next step in the development of the GHC will possibly be to extend the second hangar. The collection is still expanding and we need more space to store gliders including those awaiting restoration. The longer term vision is to add a new building with an archive for historic documents and a museum for displays and presentations. The GHC is in a fortunate financial position. There are no paid employees, the lease is rentfree and all the maintenance work is carried out by unpaid volunteers. The running costs are covered by membership fees and other contributions from members. During 2020/21 the pandemic did not affect the number of members. The future is still uncertain but, all being well, we should be able to weather the storm. ## **By order of the trustees** Signature Date Dr A Newbery Chairman Mr G Bradney Secretary Mr J Ben-David Treasurer 6 ## **5 FINANCIAL REVIEW OF THE GLIDING HERITAGE CENTRE FOR 2020/21** ## **5.1 Funds** The GHC has two funds: ## _**a. The Unrestricted Fund**_ This covers the running costs of the centre. It is used to pay for the following items: - Insurance cover for the GHC gliders, the buildings and public liability - Materials used for the routine maintenance of the gliders, the buildings and the site. (All the work is carried out by members.) - The facility fees that are payable to the Lasham Gliding Society for airworthy gliders operated at Lasham. - General administrative costs - The cost of electricity, gas for heating the workshop and water - Business rates (if these are payable) The income for the fund comes from the following sources: - Membership fees which are paid as regular contributions to the charity - Other occasional donations that are made to support this fund - Contributions from members who enjoy the incidental benefit of flying the GHC gliders or keeping their gliders in the hangar so that they can be displayed to visitors. ## _**b. The Restricted Fund** ._ The restricted income fund is used to develop the GHC facilities and extend the collection of vintage gliders. During 2020/21 the main source of income was donations from supporters and members. In normal times there would also be donations from visitors. ## **5.2 Reserves and Risk Policy** During the current phase of the development of the GHC the running costs are relatively low. There are no paid employees, the lease is rent-free and all the maintenance work is carried out by members. The running costs are paid from the unrestricted fund and they have been covered by the membership fees and the other contributions from members. The policy of the trustees is to maintain the unrestricted fund at greater than £10,000 to allow for unplanned expenses. This insures that the financial risks to the charity are relatively low. 7 ## **5.3 Independent Examination of Accounts** The income and assets of the GHC mean that it is a small company below the threshold and so the accounts are not subject to a statutory audit. The accounts have been independently examined as required by the Charity Commission regulations. ## **5.4 Accounting Standard** The accounts follow the recommendations in the Statement of Recommended Practice (SORP) FRS 102 effective from January 2015. 8 5.5 Statement of Financial Activities Note Ref Unrestricted Restricted Funds Funds Total Funds Prior Year Total Funds Income and Endowments From: Donations 2nd Legzcies 12103 12103 27703 27703 246824 24&824 Total Expenditure On- Charitable Activities -5978 -5978 -14023 -14023 -20(￿1 -20￿1 .23707 -23707 Total Net IncomÈlexpenditure 6125 1577 7702 223117 Transfer Between Funds Other Recognised Gains/Losses Gains on Revaluation of Fixed Assets for Charity's Own Lhe Netmovementin Funds 6125 77 7702 223117 Reconciliaiion of Funds Total Funds Brou ht Forward Total Funds Carried Forward 36792 42917 515298 51E675 552C81 559792 328974 552CBI 5.6 Balance Sheet Note Ref | Total Funds Prior Year Total Fu nds Fixe d Assets Tangi bl e Assets Heritage Asset5 372863 80530 234266 75530 Total Fixed Assets 453393 309796 CurrentAssets Cash in Bankand in Hand Debto r5 1069 244149 S16 Total Current Assets 1069Th) 244665 abilities Creditors.'Amounts fallin due within one ear sc 2370 N et cU￿e nt Assets or Liabil iti es Tots l A55ets Less Cu rre nt Liabl iti es Net Assets or Liabiitie5 Exclud ing Pe nsion Assets or Liabil ities 1064 242295 559793 552091 559793 552091 552091 Total N et Assets or Liabi l iti es 559793 The Funds of the Charity Restricted Income Funds Unrestricted Fu nds 516875 515298 42917 36792 Total Unrestrirted Funds Totsl Charity Funds 42917 36792 559792 552091 io The notes on pages 12 to 15 form part of the financial statement. The financial report was accepted by the membership at the annual general meeting held on 31st October 2021. For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors’ responsibilities: - the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 - the directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts - these accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. Signature Date Dr A Newbery Chairman Mr G Bradney Secretary Mr J Ben-David Treasurer 11 ## **5.7 Notes** ## _**Note 1**_ The charity is run entirely by volunteers who: - Restore and maintain the gliders - Maintain and develop the hangars and the grounds - Act as guides for visitors - Carry out all the management and administrative tasks. The financial value of these contributions is not included in these accounts. ## _**Note 2**_ ||**Unrestricted**
**Funds**|
**Restricted**
**Funds**|**Total**
**Funds**| |---|---|---|---| |**Donations and Legacies**|**£**|**£**|**£**| ||||| |MembershipSubscriptions|5065||5065| |Donations Towards General RunningCosts|7038||7038| |Donations to Establish the Centre||10600|10600| |Donations in Kind(Gliders)||5000|5000| |Donations in Kind(Other)|||0| |**Total**|**12103**|**15600**|**27703**| ## _**Note 3**_ ||**Unrestricted**
**Funds**|
**Restricted**
**Funds**|**Total**
**Funds**| |---|---|---|---| |**Charitable Activities**|**£**|**£**|**£**| ||||| |Insurance|2960||2960| |Glider Maintenance|291||291| |Fees to LGS and BGA|848||848| |Glider Restoration||112|112| |Repair of Equipment|199||199| |Admin and Marketing|419|384|803| |Buildingand Site Maintenance|288|183|471| |Electicity,Gas and Diesel|972||| |Depreciation of Tangible Assets||13345|13345| |**Total**|**5978**|**14023**|**20001**| 12 ## _**Note 4**_ The major tangible assets are the two hangars and the workshop. The policy is to depreciate the value of the buildings linearly over the 25 year period of the current lease which ends in 2038. Some lower value tangible assets are depreciated linearly over their estimated remaining lives. |**Hangars**||| |---|---|---| |At beginingofyear|230631|| |Additions||| |At End of Year|230631|| |Depreciation|12681|| |Net book value at end|217950|| |||| |**Other Tangible Assets**||| |At beginingofyear|3635|| |Additions(Inc. office equipment)|1128|| |At end of Year|4762|| |Depreciation|664|| |Net book value at end|4098|| |||| |**Workshop**||| |At beginingofyear|0|| |Additions|150815|| |At End of Year|150815|| |Depreciation|0|| |Net book value at end|150815|| |**Cost or valuation of all Tangible Assets**
At the beginningof theyear
234266
Additions
151942
At the end of theyear
386208
**Depreciation and impairment**
Depreciation
13345
At the end of theyear
13345
Net book value at the beginningof theyear
234266
Net book value at the end of theyear
372863||| |||| |||234266| |||151942| |||386208| |||| |||| |||13345| |||13345| |||| |||234266| |||372863| 13 ## _**Note 5**_ The current heritage assets shown in the report consist of the vintage gliders which have been donated to the GHC together with their trailers and other equipment. The collection of gliders is listed in the table together with their values. It shows how the collection has grown since the GHC was formed in 2012. The value of vintage gliders is difficult to estimate as the potential market is small and they only change hands infrequently. The figures in the table have been based on recent sales of similar gliders. It is expected that the values the GHC gliders will be static or will possibly increase over time. If appropriate they are re-valued following restoration. The GHC also has an archive of documents, plans and artefacts related to gliding. Although these items are important from a historical point of view they have little or no market value and so they are not included in the financial report at present. |**Glider Type**|**2012/13 **|**2013/14 **|**2014/15 **|**2015/16 **|**2016/17 **|**2017/18 **|**2018/19 **|**2019/20**|**Added**
**2020/21**|**Value**
**2020/21**| |---|---|---|---|---|---|---|---|---|---|---| |Abbott-Baynes Scud 2||||||5000|5000|5000||5000| |Abbott-Baynes Scud 3|5000|5000|5000|5000|5000|5000|5000|5000||5000| |Colditz Cock|||450|450|450|450|450|450||450| |Eon Baby|||500|500|500|500|500|500||500| |Eon Eton|||||250|250|250|250||250| |EoN Olympia 2b|||1250|1250|1250|1250|1250|1250||1250| |EoN Olympia 460|||||||||2500|2500| |EoN Olympia 463||2250|2250|2250|2250|2250|2250|2250||2250| |Grunau Baby|||||750|750|750|750||750| |Jacobs Schweyer Weihe|500|500|500|500|500|500|500|500||500| |JSH Scorpion||||||500|500|500||500| |Kaiser Ka3|||||750|750|750|750||750| |Leister-Kaufmann TG4||||||||2000||2000| |Lo 100||||400|400|400|400|400||400| |Manuel Crested Wren|||500|500|500|500|500|500||500| |Manuel Hawk||500|500|500|500|500|500|500||500| |Oberlerchner Steinadler MG19|7500|7500|7500|7500|7500|7500|7500|7500||7500| |Scheibe Bergfalke 55-11||||||||3500||3500| |Scheibe Flugzeubau Mu13-d|3000|3000|3000|3000|3000|3000|3000|3000||3000| |Scheibe Zugvogel 3b|||||||2500|2500||2500| |Scheibe Zugvogel 3b||||||||3000||3000| |Schleicher K8b||||500|500|500|500|500||500| |Scott Viking||||5830|5830|5830|5830|5830||5830| |SlingsbyDart||||||||3000||3000| |SlingsbyGrasshopper|||1000|1000|1000|1000|1000|1000||1000| |SlingsbyGrasshopper||||||||1000||1000| |SlingsbyPrefect|||3000|3000|3000|3000|3000|3000||3000| |SlingsbyPrefect|||||||3500|3500||3500| |SlingsbySkylark 2|||||||||2500|2500| |SlingsbySkylark 3b||1750|1750|1750|1750|1750|1750|1750||1750| |SlingsbySkylark 3f||||1000|1000|1000|1000|1000||1000| |SlingsbySwallow|1250|1800|1800|1800|1800|1800|1800|1800||1800| |SlingsbyTutor||||||||1500||1500| |Spalinger S21H||||||1500|1500|1500||1500| |SZD Foka 4||2750|2750|4050|4050|4050|4050|4050||4050| |Yorkshire Sailplanes YS53|||||3000|3000|3000|3000||3000| |Zlin Z24|||3000|3000|3000|3000|3000|3000||3000| |**Total value**|**17250**|**25050**|**34750**|**43780**|**48530**|**55530**|**61530**|**75530**|**5000**|**80530**| 14 The Lo 100 is incomplete. The fuselage and tail have been used as a basis for a simulator. The value in the table includes the extra computer equipment that has been added (all of which was donated). A summary analysis of heritage asset transactions is given in the table below. There have been no direct purchases, and no charges for impairment or disposals since the charity was formed in 2012. All transactions are included in the balance sheet. ||**2012/13 **|**2013/14 **|**2014/15 **|**2015/16 **|**2016/17 **|**2017/18 **|**2018/19 **|**2019/20 **|**2020/21**| |---|---|---|---|---|---|---|---|---|---| |Acquisitions|17250|7250|9700|7730|4750|7000|6000|14000|5000| |Revaluations||550||1300|||||| |Total Change in Year|17250|7800|9700|9030|4750|7000|6000|14000|5000| |Cumulative Value|17250|25050|34750|43780|48530|55530|61530|75530|80530| 15 Independent Examlnerfs Report To the Trustees of: The Gliding Herftage Centre My report covers the accounts of the company for the year ended 31 March 2021, which are set out in section 5 of the annual report of the trustees of The Gliding Heritage Centre. Respertlve Responsibilities of Trustees and Examiner The trustees (who are also the directors of the company for the purposes of company lawl, are responsible for the preparation of the accounts. The trustees consider that an audit is not required for the this year under sertion 14412) of the Charities Act 2011 Ithe 2011 Act} and that an independent examination is acceptable as the charitW5 gross income does not exceed £250.000. The company is also exempt from an audit under section 477 of the Companies Att 2006 relating to small companies. The examinerfs responsibilities are therefore to: l. Examine the account5 under section 145 of the 2011 Act: 2. To follow the procedures laid down in the general direttions given by the Charity Commission under settion 14515llbl of the 2011 Act- and 3. To state whether particular matters have come to my attention. Ba$15 of Independent Examinerfs Report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seekin8 explanations from you astrustees concerning anysuch matters. The proceduresundertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a °true and fair Vie￿ and the report is limited to those matters set out in the statement below. Independent Examlnerfs Statement In connection wlth my examination. no matter has come to my attention: l. Which gives me reasonable cause to believe that in any material aspect the requlrements: To keep accounting records in accordance with section 386 of the Companies Act 2006: and b. To prepare accounts which accord with the accounting records, comply with the accounting requirement of section 396 of the Companies Att 2006 and with the method5 and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities. Have not been met; or 2. To whlch In my opinion. attention should be drawn in order to enable proper understanding of the accounts to be reached. Signed..... Name: Date: Address: Susan Brooke 14 August 2021 l Maplehurst Chase Hatch Warren Basingstoke Hants RG22 4XQ FMAAT (Full Member Association of Accounting Technician51 Number- 0241673 Professional Qualification: