Company registration number.. 08203004
Charity registration number.. 1150163
The Avro Heritage Trust
Unaudited Financial Statements
for the Year Ended 31 March 2024
Bright Partnership Limited
Chartered Accountsnts
1 Park Street
Macclesfield
Cheshire
SK116SR

The Avro Heritage Trust
Contents
Trustees, Report
1to3
Independent Examiner's Report
4t05
ststement of Financial Activities
Balance Sheet
7t08
Notes to the Financial Statements
9t014
Detailed Statement of Financial Activib-es
15to17

The Avro Heritage Trust
Trustees. Report
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present
their report with the financial statements of the charity for the year ended 31 March 2024. The trustees
have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019}-
The Charity was registered in December 2012 at a time when the BAE systems manufacturing complex at
the Woodford Aerodrome had been shutdown and the site was in process of being sold for development.
On the site was a small but well supported Heritage centre which had been operating for 15 years. This
centre, run by volunteers, had acquired a large amount of exhibits and archive material. As part of the
sale of the aerodrome, BAE Systems was determined to preserve the Heritage of Avro and
consequentially funded the conversion of the airfield fire station into a modern museum complete with
café and shop. Along with the building came XM603 a fine example of a Vulcan bomber which had
remained on the ground at Woodford since its final flight in March 1982.
Objectives and Activities
Objectives and aims
To advan￿ the education of the public and the heritage of the British aircraft manufacturing industry in
relation to the development and history of aircraft design, engineering and manufacture. In particular, the
role played by A V Roe & Co Ltd. through the acquisition, research, preservation, protection, and
expansion of the collections.
To display these collections to the public.
To preserve through archive, documentation, photographs, drawings and all other associated items
connected to the manufacturing industry and in particular the role of A V Roe &Co Ltd.
The year
The primary aim of the museum is to tell the story of Avro aircraft and their development from 1907 to
2011. This includes iconic aircraft such as 504, Anson, Lancaster, Shackleton, Vulcan and Nimrod. A
large archive facility preserves and records all related material which is available for research and study.
During the year the archive systems have been reviewed, from which a plan for future systems updates
has been agreed.
During the year the 748, following its restoration, was added to the exhibits in the main hall and allowed
the public to be able to view another cockpit. This being part of continual refreshment of exhibits and such
action is reflected in the number of repeat visits and an increasing number of friends of the museum. A
dedicated team of volunteers worked hard in improving and restoring several recent additions to the
collection. By way of example, the 707C, a unique Avro two seater delta wing jet that first flew in 1953,
was totalty repainted and further work carried out to allow public aC￿ss.
Visitor numbers again increased and general public admissions increased by 25 %. A large part of this
increase in visitor numbers was from further away in the country and from abroad.
Page 1

The Avro Heritage Trust
Trustees. Report
Volunteers
All members of the museum are volunteers. Numbers have increased and stand at 170. The museum
operating times are for general public, Friday, Saturday, Sunday, and Bank Holiday Mondays. Members
days are Tuesday and Thursday which are also for school and Group visits some of which include
evenings.
The museum could not function without the goodwill and enthusiasm of the volunteers. Of great
encouragement is a very keen junior section an increasing number of volunteers of and age which bodes
well for Suc￿sSion.
Achievement and Perforniance
Achievements
Continually adding to the visitor experience with pop up exhibits
Increased number of events to attract a wider audien
Closer ties with ATC groups and hosting the annual North wing training day
To consolidate the kpi of the friendly and informative connection be￿een volunteers and the public
Protect and preseNe the Avro Heritage legacy for this and future generations
Further our excellent relationship with the community with allowing free use of our facilities
Continue to offer a major attraction to all age group schools and groups, many with special needs
Maintain our position as a major attraction in the North West of England
Reserve policy
The Trustees have a reserve policy to hold in reserve at least one year's costs.
Structure, Governance and Management
Governing document
The charity is controlled by its goveming document, a deed of trust, and constitutes a limited company,
limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
The Trustees are mindful of the need to provide continuity and succession and as such selection of
additional or replacement Trustees is taken by existing Trustees. This is with a view to enhancing
expertise and experience to meet the continuing needs of the charity and to meet the aims and principles
of the articles of association. Potential candidates may arise from the volunteers who may well have
specific skills as identified. Trustees are encouraged to be Ou￿ard facing as well as hands on.
Risk management
Risk management is a feature of Trustees. meetings in particular the impact of any legislation and local
and national events. Alongside this, but closer to home, risks such as Health and Safety and public
protection, feature strongly
Page 2

The Avro Heritage Trust
Trustees. Report
Reference and Administrative Details
Charity Registration Number=
1150163
Company Registration Number..
Registered Office..
08203004
AVRO Heritage Museum
Woodford Aerodrome
Chester Road
Woodford
Cheshire
SK7 1AG
Independent Examiner:
Bright Partnership Limited
Chartered Accountants
1 Park Street
Macclesfield
Cheshire
SK116SR
Trustees
Trustees..
T Barnes, Chairman (appointed 28 August 2024)
K Whittaker
E Wennell
J Ambrose
l Lomax
R Yates
A Paterson (appointed 30 July 2024)
The annual report was approved by the trustees of the charity on
by
and signed on its behalf
T Barnes
Trustee
Page 3

The Avro Heritage Trust
Independent Examiner's Report to the trustees of The Avro Heritage Trust ('the
Company.)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31
March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies
Act 2006 ('the 2006 Acf).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of
the 2006 Act and are eligible for independent examination, I report in respect of my examination of your
charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying
out my examination I have followed the Directions given by the Charity Commission under section
14515){b} of the 2011 Act.
Independent examiner's statement
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body
listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because I
am a member of , which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with
the examination giving me cause to believe.
1. accounting records were not kept in respect of The Avro Heritage Trust as required by section 386 of
the 2006 Act., or
2. the accounts do not accord with those records,. or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other
than any requirement that the accounts give a 'true and fair view which is not a matter considered
as part of an independent examination.. or
4. the accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practi￿ for accounting and reporting by charities lapplicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Page 4

The Avro Heritage Trust
Independent Examiner's Report to the trustees of The Avro Heritage Trust ('the
Company.)
Mr Neil Kennington FCA {Senior Statutory Auditor)
for and on behlf of Bright Partnership Limited
Chartered Accountants
1 Park Street
Macclesfield
Cheshire
SK116SR
Date...............................
Page 5

The Avro Heritage Trust
Statement of Financial Activities for the Year Ended 31 March 2024
{Including Income and Expenditure Account and Ststement of Totsl Recognised
Gains and Losses)
Unrestricted
funds
Total
2024
Total
2023
Note
Income and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investment income
Other income
21,893
124,217
100,523
1,212
5,009
21,893
124,217
100,523
1,212
5,009
25,645
93,530
109,205
207
9,736
Total income
252.854
252.854
238,323
Expenditure on:
Charitable activities
{196,252)
(196,252)
(228,5981
Total expenditure
(196,252)
(196,252)
(228,5981
Net income
56,602
56,602
9,725
Net movement in funds
56,602
56,602
9,725
Reconciliation of funds
Total funds brought forward
480,478
480,478
470,753
Total funds carried forward
12
537,080
537,080
480,478
All of the charity's activits-es derive from continuing operations during the above tsvo periods.
The funds breakdown for 2023 is shown in note 12.
The notes on pages 9 to 14 form an integral part of these financial statements.
Page 6

The Avro Heritage Trust
(Registration number: 08203004)
Balance Sheet as at 31 March 2024
2024
2023
Note
Fixed assets
Heritage assets
Tangible assets
258,919
12,353
258,919
16,470
271,272
275,389
Current assets
Stocks
Debtors
Cash at bank and in hand
14,611
20,848
254,323
12,695
50,610
165,737
10
289,782
229,042
Creditors: Amounts falling due within one year
11
23,974
23,953
Net current assets
265,808
205,089
Net assets
537,080
480,478
Funds of the charity:
Unrestricted income funds
Unrestricted funds
537,080
480,478
Total funds
12
537,080
480,478
The notes on pages 9 to 14 form an integral part of these financial statements.
Page 7

The Avro Heritage Trust
(Registration number: 08203004)
Balance Sheet as at 31 March 2024
The charitable company is entiled to exemption from audit under Section 477 of the Companies Act 2006
for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year
ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(al ensuring that the charitable company keeps accounting records that comply with Sections 386 and
387 of the Companies Act 2006 and
(bj preparing financial statements which give a true and fair view of the state of affairs of the charitable
company as at the end of each financial year and of its surplus or deficit for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the
charitable company.
These financial statements have been prepared in accordan￿ with the provisions applicable to charitable
companies subject to the small companies regime.
The financial statements on pages 6 to 14 were approved by the trustees, and authorised for issue on
and signed on their behalf by..
T Barnes
Trustee
l Lomax
Trustee
The notes on pages 9 to 14 form an integral part of these financial statements.
Page 8

The Avro Heritage Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)) (issued in
October 2019} {Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 and the Companies Act 2006.
Basis of preparation
The Avro Heritage Trust meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
relevant accounting policy notes.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will
be received and the amount of the income receivable can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing
the charity to that expenditure, it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an
accruals basis and has been classified under headings that aggregate all cost related to the category.
Where costs cannot be directly attributed to particular headings they have been allocated to activities on
a basis consistent with the use of resources
Taxation
The charity is exempt from corporation tax on its charitable acb"vities
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
useful life.
Asset class
Fixtures and fittings
Depreciation method and rate
25 % on reducing balance
Stock
Stocks are valued at the lower of cost and net realisable value, after making due allowan￿ for obsolete
and slow moving items.
Page 9

The Avro Heritage Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Fund structure
Unrestricted funds can be used in accordan￿ with the charitable objectives at the discretion of the
trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the
charity.Restrictions arise when specified by the donor or when funds are raised for particular restricted
purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial
statements.
Heritage Assets
The Museum has a large number of exhibits and artefacts which it has not had to purchase. The exhibits
are of a tangible nature with historic, technological and scientific qualities that are held for the benefit of
the public for their educational and cultural interest.
Many items have been donated or are on loan from generous owners. Records are kept for all items to
track their ownership and existence.
The artefacts and exhibitions owned by the museum as at the year end which have been gifted to them,
are difficult to value due to their historic and irreplaceable nature.
2 Income from other trading activities
Total
funds
Total
2023
Cafe Income
Shop Income
Fundraising events
Exceptional items
25,877
36,972
24,865
12,809
19,322
28,429
17,144
44,310
100,523
109,205
Page 10

The Avro Heritage Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
3 Investment income
Total
2024
Total
2023
Deposit account interest
1,212
207
4 Net incomingloutgoing resources
Net incoming reSoUr￿S for the year include..
2024
2023
Depreciation of fixed assets
4,118
5,491
5 Trustees remuneration and expenses
There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year
ended 31 March 2023.
Trustees. expenses
Trustees make payments on behalf of the charity for various costs for which they are reimbursed
6 Taxation
The charity is a registered charity and is therefore exempt from taxation.
Page 11

The Avro Heritage Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
7 Tangible fixed assets
Furniture and
equipment
Total
Cost
At 1 April 2023
68,444
68,444
At 31 March 2024
68,444
68,444
Depreciation
At 1 April 2023
Charge for the year
51,974
4,117
51,974
4,117
At 31 March 2024
56,091
56,091
Net book value
At 31 March 2024
12,353
12,353
At 31 March 2023
16,470
16,470
Property
The Museum property is owned by a separate third party and is leased to the Museum at a peppercorn
rent of £1 per annum. The lease expires in 2030 but it is understood that it will be open for renewal.
The lease of the property constitutes not only the Museum building and premises but also the Vulcan
aeroplane which is a Museum exhibit.
The use of an adjacent propety commenced August 2020 under a three year lease at a peppercorn rent.
Since 2023 this lease has now become a 6 month rolling lease.
Page 12

The Avro Heritage Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
8 Heritage assets
The Museum has a large number of exhibits and artefacts which it has not had to purchase. The exhibits
are of a tangible nature with historic. technological and scientific qualities that are held for the benefit of
the public for their educational and cultural interest.
Many items have been donated or are on loan from generous owners. Records are kept for all items to
track their ownership and existence.
The artefacts and exhibitions owned by the museum as at the year end which have been gifted to them,
are difficult to value due to their historic and Irrepla￿able nature.
Assets have however also been purchased for the purpose of exhibiting in the Museum and in the
Trustees opinion fall within the category of Heritage Assets. This includes a heritage asset bought for
exhibition purchased at a cost of £200,000 in October 2020.
9 Stock
2024
2023
Stocks
14,611
12,695
10 Debtors
2024
2023
Prepayments
Other debtors
3,990
16,858
5,096
45,514
20,848
50,610
11 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Other creditors
Accruals
8,086
4,442
11,446
15,951
8,002
23,974
23,953
Page 13

The Avro Heritage Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
12 Funds
Balance at 1
April 2023
Incoming
resources
Resources
expended
Balance at 31
March 2024
Unrestricted funds
General
480.478
252.854
(196,252)
537,080
Balance at 1
April 2022
Incoming
resources
Resources
expended
Balance at 31
March 2023
Unrestricted funds
General
470,753
238,323
(228,598)
480,478
13 Related party transactions
There were no related party transactions for the year ended 31 March 2024.
Page 14

The Avro Heritage Trust
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
Total
2024
Total
2023
Income and Endowments from:
Donations and legacies {analysed below)
Charitable activities {analysed below)
Other trading activities (analysed below)
Investment income (analysed below)
Other income (analysed below)
21,893
124,217
100,523
1,212
5,009
25,645
93,530
109,205
207
9,736
Total income
252,854
238,323
Expenditure on:
Charitable activits'es {analysed below)
(196,252)
(228,598)
Total expenditure
196,252
228,598
Net income
56,602
9,725
Net movement in funds
56.602
9,725
Reconciliation of funds
Total funds brought forward
480,478
470,753
Total funds carried forward
537,080
480,478
This page does not form part of the statutory financial statements.
Page 15

The Avro Heritage Trust
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
Total
2024
Total
2023
Donations and legacies
Donations
21,893
25,645
21,893
25,645
Charitable activities
Subscriptions
Admissions
Cockpit Experience
1,911
97,481
24,825
3,328
70,827
19,375
124,217
93,530
Other trading activities
Cafe income
Shop income
Fundraising events
Exceptional items
25,877
36,972
24,865
12,809
19,322
28,429
17,144
44,310
100,523
109,205
Investment income
Interest on cash deposits
1,212
1,212
207
207
Other income
Room Hire
Other income
3,952
1,057
1,445
8,291
5,009
9,736
Charitable activities
Purchases
Cafe cost of sales
EPOS costs
Exhibition Expenses
(21,805)
{19,581)
(4,103)
(6.414)
(17,193)
(10,3831
(4,9951
(3,4381
L 41
Office costs
Rates
Light, heat and power
Insuran
Repairs and maintenance
Computer sofvare and Maintenan￿ costs
(6,341)
(7,306)
(52,269)
(6,300)
(12,898)
{561)
(4,7861
{19,917)
(15,2791
(6,3101
(52,1601
(29)
This page does not form part of the statutory financial statements.
Page 16

The Avro Heritage Trust
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
Total
2024
Total
2023
Other costs
Cleaning
Event costs
Project costs
Advertising
Depreciation of fixtures and fittings
Accountancy fees
Legal and professional fees
(3,912)
(7,348)
(17,742)
(15,860)
(3,052)
(4,117)
(2.200)
(4,443)
196,252
(5,3801
(8,7321
(16,2621
(39,0961
(3,0681
(5,4901
(1,9421
{14,138}
228,598
This page does not form part of the statutory financial statements.
Page 17