Washington Road., Sunderland, Tyne & Wear, SR5 3HZ
Trustees Annual Report 2022
The trustees welcomed 2022 as a return to full opening following the COVID pandemic.
We are pleased to report that visitors to the museum returned the museum in numbers comparable with Pre-Covid levels.
Volunteers soon returned in numbers comparable to the pre-Covid levels which permitted projects and school visits to start.
Considerable time and money continues to be invested in improving the visual appearance of the site. It has been the largest area of expenditure and has been met with many favourable comments from the visitors. The major investment in 2022 was the re-configuration of the tram shed to prepare for a new exhibition on automotive manufacture planned for 2023.
The museum was able to hold a number of events through the year one highlight was a very successful classic car show supported by local car owners. In May the Mayor and Mayoress of Sunderland lead commemorations to mark the 40[th] Anniversary of the Falklands Campaign. The event was supported by over 50 veterans. As part of this event the museum were able to obtain the loan of a Sea Harrier aircraft to display alongside the Argentine Pucara. The owner of the aircraft has subsequently gifted the aircraft to the museum in recognition of the good work it carries out.
Another exhibit arrived towards the end of the year when the RAF moved a Hawker Hunter from RAF Waddington for it to be prepared for display at RAF Boulmer. This is an important part of ou partnership with the Royal Air Force. This partnership also saw personnel from RAF Leeming attending for a training day and in August and wreath laying in November.
The museum continued to support the community by offering work experience to local schools, hosting school visits and training placements with both Sunderland and Newcastle Colleges. The museum has an active programme with four specialist autism support providers to help those in the transition to work. Of the 12,500 visitors per year approximately 20% are part of the community support programme which provides access to schools and community groups.
Financially, 2022 has been a continued investment in improving the museum. At the year end the museum showed a reduction in funds due to the level of investment in improving the museum. The museum trustees take a prudent view and aim to keep a reserve equivalent to 6 months operational costs in reserve.
David Charles on behalf of the Trustees
Registered Charity Number 1150286 Company Registration 02828043
IIEGISIERED O)QANf 02828?43 l£ngla.-.d and Wal&s) IIEGISTERED CilALTTY NLN8ER: 1150286 Re ort of the Ttustees and Unaudited Financial StateTrerkt5 for the Year Ended 37 Decernber 2022 for NE Land Sea and Air Museum Ltd. Robert Miller S Co. Kings Hall 4 Imperial Bui I dlngs Houghton-le-spring Tyne and Wear DH4 4DJ
NE Land Sea and Air MuseutA Ltd. Contents of the Financxal Staternents for the Year Ended 31 December 2022 Page Report of the Trustees Independent Examiner, s Report statement of F.. nancial Activities Balance Sheet Notes to the Financial Statements Detailed Staternent of Financial Aetlvities io
NE Land Sea and Ait Ntaseum Ltd. Re ort of the Trustee5 for ihe Year Ended 31 Decetober 2022 The trustees who are also directors of the charity for the purposes of the CornpaDies Act 2006, present their report with the financial staternents of the earitY for the year ended 31 DeceTnber 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities.. state.ent of RecoTtuMendea I Icable to charities preparing their accounts in accordance with the Practice app_ Financi a I Reportin(J Standard applicable in the UK and RepUbLt of Ireland IFRS 1021 (effective l January 20191 SYRUCTUBI, GOVKiINANCE AND MANAGEMENT Governing dc)eument The charity is controlled by its governing document, a deed of trust, and con5titute5 a lirnited companyi lillkited by guarantee, as defined by the Companies Act 2006. RETERENCE AND ADMINTSTRATIVZ DETAILS Regi8teted CoThpany nuTrber 02828043 lingland anu friaièsl Registered Charity number L1502e6 Rogistered office Wasb..ington Roao Sunderland i yne and Wear SR5 3HZ Trustè•s Y.=s J Charles Jitector D Cp.aries Surveyor A Charles Proouction Operative D Del7 oli Production Opurative S Marlee salesrn.an l Mclaren Historian R Potts Systems Analyst Independent Examiner Philip N. Brown Robert Miller & Co. Kings Elall 4 Irnperial Buildings Houg>.ton-l&-Spring Tyne and Wear DH4 4DJ Approved bv order of the board of tré5tèes on 20 Septerober 2023 and signed ts beb.al on D CF.arLes Trustee Page I
Inde endent Examiner, s Re ort to the Trustees of NE Land Sea and Air Museu]n Ltd. Independent examiner's report to the trustee$ of NK Land S¥a and Air Musewu Ltd. (' the Company, I report to the charity trustees on my examination of the accounts of the Cornpany for the year ended 31 Decernber 2022. Responsibilities and basis of report As iFie cbjaritv s tLUStees he Company land also its diractors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the CorTrpanies Act 2006 I'the 2006 Act, I Having satis f .' ed rnyself that Lhe account5 of the Company are not required to be audited uryder Part 16 of the 2006 Act and are eligible f or independent exarnination I report in respect o" rny examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 1 the 2011 Aet'l carrying out rny examination I have followed the Directions given by the Charity ComTni5slon under Section 145151 Ibl of the 2011 Act. Independent exallLiner' s statellkent I h-ve completea Try exatnination. confinn that no matters have come to actention in connection with the exarnination giving me cause o believe- account jp.¢J records were not kept in respect of the Cornpany as required by Section 386 of tAe L006 Ac- or the accounts do not accord with those rÈcords,- or the accounts do not comply with the accounting requireTrents of Secti¢kn 396 of t4e 2000 Ac- Otsher than any requirement that the accounts give a true and fair view hCh is not a rnatter consiaered as part of an independenc exam- na.ion,- or the accounts trJave not been prepared in accordance with t-.ie methods principles of the sLate.ent of Reconunended Practice for accounting reportinu by charLLies lappl icable to charities preparing their accounts accordance with the Financial Reporting Standa*d applicable in Republic 0£ Ireland IERC 10211 I hare no concerns and have corne across no other matters in corinectiori k<lth. tha examinaÈion to which attention should be drawn in this report in order to enable a proper understand.'ng of the accounts to be reached. ana and in and Philip N. Brown Robert Miller & Co. Kings Hall 4 Imperial Buildings Hoijghton-le-spring Tyne and Wear DH4 4DJ 20 Septernber 2023 Page 2
NE Land Sea and Air Museum Ltd. statement of Financial Activities for the Year Ended 31 DeeellLber 2022 31.12.22 31.12.21 Onrestricted Total fund f unds Notes INCOM& AND ENDOTrlbENTS FROM Donarions and legacies 57,203 29,280 Other trad&ng activities 20,037 62,827 otal 77,24'0 92, 107 EXPENDITUTrE ON Charitable actLVltie8 Charitable Act ivities 87,083 101,849 NET INcobs/ IEXPENDIWREI 19, 8431 19,7421 RECONCILIATION OF rns f apas brought f orward 58,825 68, 567 OTAL FU14DS CARRIED FORWARD 48, 982 58,825 The notes form part of these finaDciaL 8taternents Page 3
NE Land Sea and Air Mknseum Ltd. Balance Seet .31 DecellLber 2022 31.12.22 31.12.21 Unrestricted Total fund funds Notes FIXID ASSETS angible assets Investnent5 19,341 21,46S 19, 343 21,467 CURRENT ASSETS Debtors Cash at bank and in hand 3,730 46,019 11, 987 56,064 49,749 68,051 CBEDITORS Anounts falling due within one year io 120,1101 130, 6931 NET CUBPENT ASSETS 29, 639 37,358 TOTAL ASSBTS LESS CLISBENT LIABILITI- 48, 982 58,823 NET ASSETS 48,982 58,825 li Unrestr ricted Tunds 48, 982 58,825 TOYAL FUNDS 48,982 58, 825 The cFiaritable company is entitled to exemption from audit under Section 477 the Cornpanies Act 2006 for the year ended 31 Decerther 2022. The mernbers have not required the company to obtain an audit of its f inancial staveTri eDts for he year ended 31 December 2022 in accordance with Section 476 the Cornpanies Act 2006. The trustees acknowledge t4eir res8ons ibilities f or ensuring that the charitable COrnPall.y keeps accounting records that WiEh Sections 386 and i87 of the onpanies Act 2006 and Ibl preparing financial statements which give a Lrue and fai- vlew 0£ the state of affair5 0£ the cknaritable 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 Af the Companies Act 2006 relating to f inancial staternent51 so far as applicable to the charitable cornpanj. of comply These financial statements have been prepared in accordance with the provisions applicable to charitable cornpanies subject to the small companies regilne. The financial statements were approved by the Board of Trustees and authorised for iSSLie on 20 Cepterober 2023 and were signed on its behalf by: D Cb.arles Trustee The notes forrn part of these financial staternents Page 4
NE Land Sea and Air Museum 7 td. Notes to the Financial Statements for the Year Ended 31 Decernber 2022 ACCOUNTING POLICIES Basis of preparing the financial statetsÈnts The financial StaeTreAts of the chariLable company which is public benefit entity under ERS 102, have been prepared in accordance with the ChariEies SORP IFRS 1021 'Accounting and Reporting by Charitie5- Statement of Recorrlmended Ptactice applicable to charities preparing their accounts in accordance with tne Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l Jar.uary 20191 Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and RepubLic of Ireland, and the CoThpap.ies kct 2006. The f inancial statements have been prepared under the historical cost convention, with the exception of investments which are included at rnarket value. IncoTr& Axl income is recognised in the Statenent of Kinaricial Activities once charity has entitlement to the fund51 It is probable that tne income be received and the amount can be measured reliably. the will Expe.ryditute Liabilities are recogn&sed a5 expenditure as soon as there is a legal cor.structive obligation coNllt,itting the charity to that expend? ture, probable that transfer econornic benefits will be requir•d in settlement and the aiTiount of the obligation can be rneasured reliably. Expenditure is accounted ior on an accruals basis and has been classified under head.'ngs tha+ aggregate all cost related to th.e category. Where costs cannot be direct I attrii)uted to Farticular headings thes, have been allocated o activities on a basis consisteAiE TAi*h the use of resou=ces. or Tangible f ixed asset8 iep-etrixt-.on -s orcvided at the tollowing annual rate5 in order to off eah asset over its estijr.ated useful Liie. write Fixtures and fittings- 101 on reducing balance Motor vehicles 25% on reducing balance ComDute- equipment 251 straight l ine basis Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds c3n be used in accordance with the charitable at the d,. scretion of the trustees. ob j ectives Restricted funds car. only be fjsed for particular restricted purposes the object5 of the cMarity. Restrictions a-ise t4hen speclfied by the or when funds are raised for particular restricted purposes. donor Further explanation of the nature and purp08e of each fund is included the note5 to the financial statements. in Hire purcha$• and leaying cownitments Rentals paid under operating leases are charged to the Statement Financial ActiviEies on a straight line basi5 over the period of the lease. PertÈion costs and other post-tetirellLent benefits The charitaole cotNpany operg tes def ined cojitribution pension scherne. Contributions payable to the charitable cornpany, s pension scheme are charged to the ateTret of Finan_cial Activities in the perioa to which they relate. Page 5 continued.
NE Land Sea and Air Museum Ltd. Notes to the Financial Statements continued for the Year Ended 31 DecenLber 2022 OTHER TBAf)ING ACTIVITIES 31.12.22 31.12.21 Transfer of proflts froTll Subsidiary Rldley Project Rental incorne Sale of exhibits Job retention scheme grants overnThent grants Sund-y receipts 3,707 5,872 3,050 9,300 5, 4iO 1?,718 29,912 93 3,059 4,349 20,037 62,827 ET INCOME/ IEXPENDITUB£} Net incoThe/ (expenditure l is stated af ter chargingj Icrediting I 31.12.22 31.12.21 Depreciation owned assets Hire of plant and machinery other operating leases 2,628 563 3, 158 •223 5, 910 YRUSTRES, F£blU. PATIQN AND BElFITs There ¥iere no Lruste.es' renuneration or other benefiis for the year 31 Decembee 2022 nor for the year ended 31 DecettLber 2021. ended Trustees, expense8 There were no trustees, expenses paid for the year endèd 31 Decenber 2022 not for tne year ended 31 December 2021. STAFF COSTS The average rnonthly Thufftber of employees during the year was as follows: 31.12.22 31.12.21 Full tiTfLe No empl?yees receiiied ernolue ts ir. excess of £60, OQO. COIQABATIVES YOR THK STATEMKNT OF FINANCIAL AC1vITIEs Unrestricted fund INcob ANll ENDOwbNT8 FROM Donat-. on5 and Legacies 29,280 Other trading activiti 62,827 Total 92,107 EXPENDITURE ON Charitable actlVLtJe8 Charitable Activities 101,849 NKT INCOk4E/ IEXPENDlfUREI 19, 7421 Page 6 continued.
NE Land Sea and Air Museum Ltd. Notes to the Financial Statements continued for the Year Ended 31 Decernber 2022 COMPARkTIVES FOR THE STATEE4ENT OF FINANCIAL ACTIVITIES continued Unrestricted fund RECONCILIATIOY OF FUblDS rotal funds brough.t forward 68,567 TOTAL FUNDS ClED FORWAPJ) 58,825 TANGIBLE FID ASSETS Fixtures and fitt ngs Motor vehicles CoThputer ew&pment Totals COST p.t l January 2022 Addit ions 33,532 4,150 1,262 504 38,944 504 At 31 Decener 2022 4,150 1,766 39,448 DEPRECIATION At l Jarkuary 2022 Ctrjarge f or year 15,374 1,732 1, 470 670 635 226 17,479 2, 628 A¥ 31 December 2022 17, 106 2,140 861 20,107 NET BOOK VAtuz 31 Dec&NIK)er 2022 16,426 2,010 905 19,341 t 31 DecellLber 2021 2, 680 21,465 FI)D ASSET IlaVESTbENTS Unlis"_ed investfLents l Ja.-.uary 2022 and 31 DeceTher 2022 BOOK VALUK At il Decerbe= 2022 At 31 Decelnber 2021 There were no investment assets outside the UK. Page 7 continued.
NE Land Sea and Air Museurn Ltd. Notes to the Financial Statenents contiiued for the Year Ended 31 Decernber 2022 DBBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.22 31.12.21 Other debtors PrepayEThents 3.457 273 10,816 1,171 3,730 li, 987 io. CPIDITORS.. PtrIOUNTS FALLING DUE WITHIN ONE YEAA 31.12.22 31.12.2-. Ridley project Def erred income A-crued expenses 5, 872 20,435 4,386 18, 135 1,975 20, 110 30, 693 11. MOVEMENT IN FLfNDS Net ovement in f unds At 31..22 At 1.1.22 Unrestricted funds eie=a. -und 58,825 19, 8431 48,982 TOTAL FUNDS 19, 8431 48, 982 Eqet iiiovement in funds, includea in the above ate as follows.. Incoming resources Resources expenaed MovemeiA t in &unds Unrestticted funds Gerts ral f und 77,240 187,0831 19, 8431 TOTAL FUb]DS 77,240 187,0831 19,8431 CoThparative3 fot movw&nt in funds Net movement in funds At 1.1.21 31.12.21 Unrestricted funds General f uThd 68,567 19,7421 58,825 TOTAL FUNDS 68, 567 19,7421 58,825 Page B ctrntinued.
NE aTand Sea and Air Museum Ltd. Notes to the Financial Statements continued for Whe Year Ended 31 December 2022 ii. MOvENT IN FUNDS - continued Comparative Det rnovement in funds. included In the above aze as follows- Incoming resourcÈ5 Res?urces expended Movement in f UDds Unzestrkcted fund General f und 92.107 1101,8491 19,7421 OTAL FLINDS 92,107 1101,8491 19,7421 A current year 12 months and prior year 12 Thonths cojnbined position is follows= as Net moveent in funds At 31.12.22 At 1.1.21 Unrestricted fund8 General fund 68,567 119,5851 48,982 TOTAL FUNDS 68,567 119,5851 48,982 A current year 12 months and prior Jear 12 months eonbined net movement funds, iD.cluded in the above are as follows- in Incorning resources Resources xpended Movenent I n Aunds Unrestricted fund8 Geieral f un.d 169, 347 1188, 9321 119, 5851 TOTAL FUNDS 169,347 1188, 9321 119,5851 12. REIATED PARTY DISCLOSUBES There were no 71 Decellioer 2022. related parry transactic>ns for the year ended Page 9
NE Land Sea and Air Museurn Ltd. Detailed Statement of Financial Act ivities for the Year Ended 31 DècetDber 2022 31.12.22 31.12.21 INCOME AND nND0TrlENTs Donations and legacies Donations Museum entrances 2,018 55, 185 1,30B 27,972 57,203 29,280 othgr trading activities Transfer of profits from Subs idiary idley Project Rental incotrie Sale of exhibits Job retention scherne grants GovÈrr]ment grants Sundrv receiDts 3,707 5,872 3,050 7,374 9,300 430 10,718 29, 912 93 3,059 4,349 20, 037 62,827 Total inttoming resoutces 77,240 9*, 107 EXPENDIWBE Charitable activities hTagos ana sal¢i= Pensions Hire o# fixed assets TransFortation f ees rates arid water Insurance Light and heat Telephone - osta Je and stationery .4dverti sing Sundry expenses Repairs and renewa18 Motor and t=avelling expenses Acquis it i on of museutn exhibits Depreciation of tangible f ixed assets Sank clarges 21,283 46 i63 23, 957 531 223 5, 910 594 2,534 1, 643 815 io 339 10,0?9 3d,655 2,297 3,994 899 90 3,781 32,218 538 12,414 14,547 2,629 1,544 3, 158 927 84,231 99,931 Support costs Govetnance costs Accollr.tancy and book-keeping Legal f ees 2, 764 88 1,798 120 1,918 Yotal resource8 exps4ded 87.083 101,849 Net gxpenditurty 19,8431 19, 7421 This page doe8 not form part of the statutory financial staternent8 Page 10
IIEGISIERED O)QANf 02828?43 l£ngla.-.d and Wal&s) IIEGISTERED CilALTTY NLN8ER: 1150286 Re ort of the Ttustees and Unaudited Financial StateTrerkt5 for the Year Ended 37 Decernber 2022 for NE Land Sea and Air Museum Ltd. Robert Miller S Co. Kings Hall 4 Imperial Bui I dlngs Houghton-le-spring Tyne and Wear DH4 4DJ
NE Land Sea and Air MuseutA Ltd. Contents of the Financxal Staternents for the Year Ended 31 December 2022 Page Report of the Trustees Independent Examiner, s Report statement of F.. nancial Activities Balance Sheet Notes to the Financial Statements Detailed Staternent of Financial Aetlvities io
NE Land Sea and Ait Ntaseum Ltd. Re ort of the Trustee5 for ihe Year Ended 31 Decetober 2022 The trustees who are also directors of the charity for the purposes of the CornpaDies Act 2006, present their report with the financial staternents of the earitY for the year ended 31 DeceTnber 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities.. state.ent of RecoTtuMendea I Icable to charities preparing their accounts in accordance with the Practice app_ Financi a I Reportin(J Standard applicable in the UK and RepUbLt of Ireland IFRS 1021 (effective l January 20191 SYRUCTUBI, GOVKiINANCE AND MANAGEMENT Governing dc)eument The charity is controlled by its governing document, a deed of trust, and con5titute5 a lirnited companyi lillkited by guarantee, as defined by the Companies Act 2006. RETERENCE AND ADMINTSTRATIVZ DETAILS Regi8teted CoThpany nuTrber 02828043 lingland anu friaièsl Registered Charity number L1502e6 Rogistered office Wasb..ington Roao Sunderland i yne and Wear SR5 3HZ Trustè•s Y.=s J Charles Jitector D Cp.aries Surveyor A Charles Proouction Operative D Del7 oli Production Opurative S Marlee salesrn.an l Mclaren Historian R Potts Systems Analyst Independent Examiner Philip N. Brown Robert Miller & Co. Kings Elall 4 Irnperial Buildings Houg>.ton-l&-Spring Tyne and Wear DH4 4DJ Approved bv order of the board of tré5tèes on 20 Septerober 2023 and signed ts beb.al on D CF.arLes Trustee Page I
Inde endent Examiner, s Re ort to the Trustees of NE Land Sea and Air Museu]n Ltd. Independent examiner's report to the trustee$ of NK Land S¥a and Air Musewu Ltd. (' the Company, I report to the charity trustees on my examination of the accounts of the Cornpany for the year ended 31 Decernber 2022. Responsibilities and basis of report As iFie cbjaritv s tLUStees he Company land also its diractors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the CorTrpanies Act 2006 I'the 2006 Act, I Having satis f .' ed rnyself that Lhe account5 of the Company are not required to be audited uryder Part 16 of the 2006 Act and are eligible f or independent exarnination I report in respect o" rny examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 1 the 2011 Aet'l carrying out rny examination I have followed the Directions given by the Charity ComTni5slon under Section 145151 Ibl of the 2011 Act. Independent exallLiner' s statellkent I h-ve completea Try exatnination. confinn that no matters have come to actention in connection with the exarnination giving me cause o believe- account jp.¢J records were not kept in respect of the Cornpany as required by Section 386 of tAe L006 Ac- or the accounts do not accord with those rÈcords,- or the accounts do not comply with the accounting requireTrents of Secti¢kn 396 of t4e 2000 Ac- Otsher than any requirement that the accounts give a true and fair view hCh is not a rnatter consiaered as part of an independenc exam- na.ion,- or the accounts trJave not been prepared in accordance with t-.ie methods principles of the sLate.ent of Reconunended Practice for accounting reportinu by charLLies lappl icable to charities preparing their accounts accordance with the Financial Reporting Standa*d applicable in Republic 0£ Ireland IERC 10211 I hare no concerns and have corne across no other matters in corinectiori k<lth. tha examinaÈion to which attention should be drawn in this report in order to enable a proper understand.'ng of the accounts to be reached. ana and in and Philip N. Brown Robert Miller & Co. Kings Hall 4 Imperial Buildings Hoijghton-le-spring Tyne and Wear DH4 4DJ 20 Septernber 2023 Page 2
NE Land Sea and Air Museum Ltd. statement of Financial Activities for the Year Ended 31 DeeellLber 2022 31.12.22 31.12.21 Onrestricted Total fund f unds Notes INCOM& AND ENDOTrlbENTS FROM Donarions and legacies 57,203 29,280 Other trad&ng activities 20,037 62,827 otal 77,24'0 92, 107 EXPENDITUTrE ON Charitable actLVltie8 Charitable Act ivities 87,083 101,849 NET INcobs/ IEXPENDIWREI 19, 8431 19,7421 RECONCILIATION OF rns f apas brought f orward 58,825 68, 567 OTAL FU14DS CARRIED FORWARD 48, 982 58,825 The notes form part of these finaDciaL 8taternents Page 3
NE Land Sea and Air Mknseum Ltd. Balance Seet .31 DecellLber 2022 31.12.22 31.12.21 Unrestricted Total fund funds Notes FIXID ASSETS angible assets Investnent5 19,341 21,46S 19, 343 21,467 CURRENT ASSETS Debtors Cash at bank and in hand 3,730 46,019 11, 987 56,064 49,749 68,051 CBEDITORS Anounts falling due within one year io 120,1101 130, 6931 NET CUBPENT ASSETS 29, 639 37,358 TOTAL ASSBTS LESS CLISBENT LIABILITI- 48, 982 58,823 NET ASSETS 48,982 58,825 li Unrestr ricted Tunds 48, 982 58,825 TOYAL FUNDS 48,982 58, 825 The cFiaritable company is entitled to exemption from audit under Section 477 the Cornpanies Act 2006 for the year ended 31 Decerther 2022. The mernbers have not required the company to obtain an audit of its f inancial staveTri eDts for he year ended 31 December 2022 in accordance with Section 476 the Cornpanies Act 2006. The trustees acknowledge t4eir res8ons ibilities f or ensuring that the charitable COrnPall.y keeps accounting records that WiEh Sections 386 and i87 of the onpanies Act 2006 and Ibl preparing financial statements which give a Lrue and fai- vlew 0£ the state of affair5 0£ the cknaritable 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 Af the Companies Act 2006 relating to f inancial staternent51 so far as applicable to the charitable cornpanj. of comply These financial statements have been prepared in accordance with the provisions applicable to charitable cornpanies subject to the small companies regilne. The financial statements were approved by the Board of Trustees and authorised for iSSLie on 20 Cepterober 2023 and were signed on its behalf by: D Cb.arles Trustee The notes forrn part of these financial staternents Page 4
NE Land Sea and Air Museum 7 td. Notes to the Financial Statements for the Year Ended 31 Decernber 2022 ACCOUNTING POLICIES Basis of preparing the financial statetsÈnts The financial StaeTreAts of the chariLable company which is public benefit entity under ERS 102, have been prepared in accordance with the ChariEies SORP IFRS 1021 'Accounting and Reporting by Charitie5- Statement of Recorrlmended Ptactice applicable to charities preparing their accounts in accordance with tne Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l Jar.uary 20191 Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and RepubLic of Ireland, and the CoThpap.ies kct 2006. The f inancial statements have been prepared under the historical cost convention, with the exception of investments which are included at rnarket value. IncoTr& Axl income is recognised in the Statenent of Kinaricial Activities once charity has entitlement to the fund51 It is probable that tne income be received and the amount can be measured reliably. the will Expe.ryditute Liabilities are recogn&sed a5 expenditure as soon as there is a legal cor.structive obligation coNllt,itting the charity to that expend? ture, probable that transfer econornic benefits will be requir•d in settlement and the aiTiount of the obligation can be rneasured reliably. Expenditure is accounted ior on an accruals basis and has been classified under head.'ngs tha+ aggregate all cost related to th.e category. Where costs cannot be direct I attrii)uted to Farticular headings thes, have been allocated o activities on a basis consisteAiE TAi*h the use of resou=ces. or Tangible f ixed asset8 iep-etrixt-.on -s orcvided at the tollowing annual rate5 in order to off eah asset over its estijr.ated useful Liie. write Fixtures and fittings- 101 on reducing balance Motor vehicles 25% on reducing balance ComDute- equipment 251 straight l ine basis Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds c3n be used in accordance with the charitable at the d,. scretion of the trustees. ob j ectives Restricted funds car. only be fjsed for particular restricted purposes the object5 of the cMarity. Restrictions a-ise t4hen speclfied by the or when funds are raised for particular restricted purposes. donor Further explanation of the nature and purp08e of each fund is included the note5 to the financial statements. in Hire purcha$• and leaying cownitments Rentals paid under operating leases are charged to the Statement Financial ActiviEies on a straight line basi5 over the period of the lease. PertÈion costs and other post-tetirellLent benefits The charitaole cotNpany operg tes def ined cojitribution pension scherne. Contributions payable to the charitable cornpany, s pension scheme are charged to the ateTret of Finan_cial Activities in the perioa to which they relate. Page 5 continued.
NE Land Sea and Air Museum Ltd. Notes to the Financial Statements continued for the Year Ended 31 DecenLber 2022 OTHER TBAf)ING ACTIVITIES 31.12.22 31.12.21 Transfer of proflts froTll Subsidiary Rldley Project Rental incorne Sale of exhibits Job retention scheme grants overnThent grants Sund-y receipts 3,707 5,872 3,050 9,300 5, 4iO 1?,718 29,912 93 3,059 4,349 20,037 62,827 ET INCOME/ IEXPENDITUB£} Net incoThe/ (expenditure l is stated af ter chargingj Icrediting I 31.12.22 31.12.21 Depreciation owned assets Hire of plant and machinery other operating leases 2,628 563 3, 158 •223 5, 910 YRUSTRES, F£blU. PATIQN AND BElFITs There ¥iere no Lruste.es' renuneration or other benefiis for the year 31 Decembee 2022 nor for the year ended 31 DecettLber 2021. ended Trustees, expense8 There were no trustees, expenses paid for the year endèd 31 Decenber 2022 not for tne year ended 31 December 2021. STAFF COSTS The average rnonthly Thufftber of employees during the year was as follows: 31.12.22 31.12.21 Full tiTfLe No empl?yees receiiied ernolue ts ir. excess of £60, OQO. COIQABATIVES YOR THK STATEMKNT OF FINANCIAL AC1vITIEs Unrestricted fund INcob ANll ENDOwbNT8 FROM Donat-. on5 and Legacies 29,280 Other trading activiti 62,827 Total 92,107 EXPENDITURE ON Charitable actlVLtJe8 Charitable Activities 101,849 NKT INCOk4E/ IEXPENDlfUREI 19, 7421 Page 6 continued.
NE Land Sea and Air Museum Ltd. Notes to the Financial Statements continued for the Year Ended 31 Decernber 2022 COMPARkTIVES FOR THE STATEE4ENT OF FINANCIAL ACTIVITIES continued Unrestricted fund RECONCILIATIOY OF FUblDS rotal funds brough.t forward 68,567 TOTAL FUNDS ClED FORWAPJ) 58,825 TANGIBLE FID ASSETS Fixtures and fitt ngs Motor vehicles CoThputer ew&pment Totals COST p.t l January 2022 Addit ions 33,532 4,150 1,262 504 38,944 504 At 31 Decener 2022 4,150 1,766 39,448 DEPRECIATION At l Jarkuary 2022 Ctrjarge f or year 15,374 1,732 1, 470 670 635 226 17,479 2, 628 A¥ 31 December 2022 17, 106 2,140 861 20,107 NET BOOK VAtuz 31 Dec&NIK)er 2022 16,426 2,010 905 19,341 t 31 DecellLber 2021 2, 680 21,465 FI)D ASSET IlaVESTbENTS Unlis"_ed investfLents l Ja.-.uary 2022 and 31 DeceTher 2022 BOOK VALUK At il Decerbe= 2022 At 31 Decelnber 2021 There were no investment assets outside the UK. Page 7 continued.
NE Land Sea and Air Museurn Ltd. Notes to the Financial Statenents contiiued for the Year Ended 31 Decernber 2022 DBBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.22 31.12.21 Other debtors PrepayEThents 3.457 273 10,816 1,171 3,730 li, 987 io. CPIDITORS.. PtrIOUNTS FALLING DUE WITHIN ONE YEAA 31.12.22 31.12.2-. Ridley project Def erred income A-crued expenses 5, 872 20,435 4,386 18, 135 1,975 20, 110 30, 693 11. MOVEMENT IN FLfNDS Net ovement in f unds At 31..22 At 1.1.22 Unrestricted funds eie=a. -und 58,825 19, 8431 48,982 TOTAL FUNDS 19, 8431 48, 982 Eqet iiiovement in funds, includea in the above ate as follows.. Incoming resources Resources expenaed MovemeiA t in &unds Unrestticted funds Gerts ral f und 77,240 187,0831 19, 8431 TOTAL FUb]DS 77,240 187,0831 19,8431 CoThparative3 fot movw&nt in funds Net movement in funds At 1.1.21 31.12.21 Unrestricted funds General f uThd 68,567 19,7421 58,825 TOTAL FUNDS 68, 567 19,7421 58,825 Page B ctrntinued.
NE aTand Sea and Air Museum Ltd. Notes to the Financial Statements continued for Whe Year Ended 31 December 2022 ii. MOvENT IN FUNDS - continued Comparative Det rnovement in funds. included In the above aze as follows- Incoming resourcÈ5 Res?urces expended Movement in f UDds Unzestrkcted fund General f und 92.107 1101,8491 19,7421 OTAL FLINDS 92,107 1101,8491 19,7421 A current year 12 months and prior year 12 Thonths cojnbined position is follows= as Net moveent in funds At 31.12.22 At 1.1.21 Unrestricted fund8 General fund 68,567 119,5851 48,982 TOTAL FUNDS 68,567 119,5851 48,982 A current year 12 months and prior Jear 12 months eonbined net movement funds, iD.cluded in the above are as follows- in Incorning resources Resources xpended Movenent I n Aunds Unrestricted fund8 Geieral f un.d 169, 347 1188, 9321 119, 5851 TOTAL FUNDS 169,347 1188, 9321 119,5851 12. REIATED PARTY DISCLOSUBES There were no 71 Decellioer 2022. related parry transactic>ns for the year ended Page 9
NE Land Sea and Air Museurn Ltd. Detailed Statement of Financial Act ivities for the Year Ended 31 DècetDber 2022 31.12.22 31.12.21 INCOME AND nND0TrlENTs Donations and legacies Donations Museum entrances 2,018 55, 185 1,30B 27,972 57,203 29,280 othgr trading activities Transfer of profits from Subs idiary idley Project Rental incotrie Sale of exhibits Job retention scherne grants GovÈrr]ment grants Sundrv receiDts 3,707 5,872 3,050 7,374 9,300 430 10,718 29, 912 93 3,059 4,349 20, 037 62,827 Total inttoming resoutces 77,240 9*, 107 EXPENDIWBE Charitable activities hTagos ana sal¢i= Pensions Hire o# fixed assets TransFortation f ees rates arid water Insurance Light and heat Telephone - osta Je and stationery .4dverti sing Sundry expenses Repairs and renewa18 Motor and t=avelling expenses Acquis it i on of museutn exhibits Depreciation of tangible f ixed assets Sank clarges 21,283 46 i63 23, 957 531 223 5, 910 594 2,534 1, 643 815 io 339 10,0?9 3d,655 2,297 3,994 899 90 3,781 32,218 538 12,414 14,547 2,629 1,544 3, 158 927 84,231 99,931 Support costs Govetnance costs Accollr.tancy and book-keeping Legal f ees 2, 764 88 1,798 120 1,918 Yotal resource8 exps4ded 87.083 101,849 Net gxpenditurty 19,8431 19, 7421 This page doe8 not form part of the statutory financial staternent8 Page 10