Trustees Annual Report 2023 

The trustees started 2023 with the opening of the new “Made in Wearside” Automotive display at the end of March 2023 by Lucy Winskell OBE. Lord Lieutenant of Tyne and Wear. The event was attended by Sunderland MP Julie Elliott along with 5 regional mayors. 

We are pleased to report that visitors to the museum continue to remain at a healthy level.  The museum trustees entered into a partnership with the Sunderland Maritime Trust which allowed them to bring a significant large vessel to the museum.  This vessel is the last wooden hulled pilot boat and spent all of its operational career out of Sunderland Docks.  It is on site for three years whilst the trust restores it ready to go back into operation on the River Wear. 

The museum trustees also signed an agreement with our neighbouring Royal Air Force Air Cadet Squadron (2214) that permits their use of the museum grounds for training activities.   The Squadron are also supporting the museum by providing Cadets for engagement activities at various events. 

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 2023 was upgrade and re-certification of the site wide electrics.  This was carried out by a local electric company over a period of several months. 

Our RAF 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 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 14,000 visitors per year approximately 20% are part of the community support programme which provides access to schools and community groups. Financially, 2023 has been similar to 2022 with continued investment in improving the museum. At the year end the museum showed a increase in funds. 

The museum trustees take a prudent view and aim to keep a cash at bank reserve equivalent to 6 months operational costs. 


David Charles on behalf of the Trustees 



```
REGISTERED COMPANY NUMBER: 02828043 (England and Wales)
REGISTERED CHARITY NUMBER: 1150286
```

```
Report of the Trustees and
```

```
Unaudited Financial Statements for the Year Ended 31 December 2023
```

```
for
```

```
NE Land Sea and Air Museum Ltd.
```

```
Robert Miller & Co.
Kings Hall
```

> `4 Imperial Buildings Houghton-le-Spring Tyne and Wear DH4 4DJ` 



```
NE Land Sea and Air Museum Ltd.
```

```
Contents of the Financial Statements
for the Year Ended 31 December 2023
```

||`Page`|
|---|---|
|`Report of the Trustees`|`1`|
|`Independent Examiner's Report`|`2`|
|`Statement of Financial Activities`|`3`|
|`Balance Sheet`|`4`|
|`Notes to the Financial Statements`|`5 to 9`|
|`Detailed Statement of Financial`||
|`Activities`|`10`|





```
NE Land Sea and Air Museum Ltd.
```

```
Report of the Trustees
for the Year Ended 31 December 2023
```

```
Thetrusteeswhoarealsodirectorsofthecharityforthepurposesof the
CompaniesAct2006,presenttheirreportwiththefinancialstatementsof the
charityfortheyearended31December2023.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:Statementof Recommended
Practiceapplicabletocharitiespreparingtheiraccountsinaccordancewith the
FinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS
102) (effective 1 January 2019).
```

## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** 

## **`Governing document`** 

```
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust, and
constitutesalimitedcompany,limitedbyguarantee,asdefinedbythe Companies
Act 2006.
```

## **`REFERENCE AND ADMINISTRATIVE DETAILS`** 

## **`Registered Company number`** 

```
02828043 (England and Wales)
```

## **`Registered Charity number`** 

```
1150286
```

## **`Registered office`** 

```
Washington Road
Sunderland
Tyne and Wear
SR5 3HZ
```

## **`Trustees`** 

```
Mrs J Charles Director (deceased 28.3.24)
D Charles Surveyor
A Charles Production Operative
D Dellow Production Operative
S Marlee Salesman
I Mclaren Historian
R Potts Systems Analyst
Mrs K Dellow (appointed 16.11.23)
```

## **`Independent Examiner`** 

```
Philip N. Brown
Robert Miller & Co.
Kings Hall
4 Imperial Buildings
Houghton-le-Spring
Tyne and Wear
DH4 4DJ
```

```
Approvedbyorderoftheboardoftrusteeson16August2024andsignedon its
behalf by:
```

```
D Charles - Trustee
```

```
Page 1
```



```
Independent Examiner's Report to the Trustees of
NE Land Sea and Air Museum Ltd.
```

```
Independentexaminer'sreporttothetrusteesofNELandSeaandAirMuseum Ltd.
('the Company')
```

```
Ireporttothecharitytrusteesonmyexaminationoftheaccountsof the
Company for the year ended 31 December 2023.
```

## **`Responsibilities and basis of report`** 

```
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsfor the
purposesofcompanylaw)youareresponsibleforthepreparationofthe accounts
in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
```

```
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredto be
auditedunderPart16ofthe2006Actandareeligiblefor independent
examination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutunderSection145oftheCharitiesAct2011('the2011Act'). In
carryingoutmyexaminationIhavefollowedtheDirectionsgivenbythe Charity
Commission under Section 145(5) (b) of the 2011 Act.
```

## **`Independent examiner's statement`** 

```
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometo my
attention in connection with the examination giving me cause to believe:
```

`1. accounting records were not kept in respect of the Company 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 Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).` 

```
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwith the
examinationtowhichattentionshouldbedrawninthisreportinorderto enable
a proper understanding of the accounts to be reached.
```

```
Philip N. Brown
```

```
Robert Miller & Co.
Kings Hall
4 Imperial Buildings
Houghton-le-Spring
Tyne and Wear
DH4 4DJ
```

```
16 August 2024
```

```
Page 2
```



```
NE Land Sea and Air Museum Ltd.
```

## `Statement of Financial Activities for the Year Ended 31 December 2023` 

|||`31.12.23`|`31.12.22`|
|---|---|---|---|
|||`Unrestricted`|`Total`|
|||`fund`|`funds`|
||`Notes`|`£`|`£`|
|**`INCOME AND ENDOWMENTS FROM`**||||
|`Donations and legacies`||`55,861`|`57,203`|
|`Other trading activities`|`2`|`23,354`|`20,037`|
|**`Total`**||`79,215`|`77,240`|
|**`EXPENDITURE ON`**||||
|**`Charitable activities`**||||
|`Charitable Activities`||`75,319`|`87,083`|
|**`NET INCOME/(EXPENDITURE)`**||`3,896`|`(9,843)`|
|**`RECONCILIATION OF FUNDS`**||||
|`Total funds brought forward`||`48,982`|`58,825`|
|**`TOTAL FUNDS CARRIED FORWARD`**||`52,878`|`48,982`|



```
The notes form part of these financial statements
```

```
Page 3
```



```
NE Land Sea and Air Museum Ltd.
```

## `Balance Sheet 31 December 2023` 

|||`31.12.23`|`31.12.22`|
|---|---|---|---|
|||`Unrestricted`|`Total`|
|||`fund`|`funds`|
||`Notes`|`£`|`£`|
|**`FIXED ASSETS`**||||
|`Tangible assets`|`7`|`17,409`|`19,341`|
|`Investments`|`8`|`2`|`2`|
|||`17,411`|`19,343`|
|**`CURRENT ASSETS`**||||
|`Debtors`|`9`|`9,518`|`3,730`|
|`Cash at bank and in hand`||`44,477`|`46,019`|
|||`53,995`|`49,749`|
|**`CREDITORS`**||||
|`Amounts falling due within one`||||
|`year`|`10`|`(18,528)`|`(20,110)`|
|**`NET CURRENT ASSETS`**||`35,467`|`29,639`|
|**`TOTAL ASSETS LESS CURRENT`**||||
|**`LIABILITIES`**||`52,878`|`48,982`|
|**`NET ASSETS`**||`52,878`|`48,982`|
|**`FUNDS`**|`11`|||
|`Unrestricted funds`||`52,878`|`48,982`|
|**`TOTAL FUNDS`**||`52,878`|`48,982`|



```
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477 of
the Companies Act 2006 for the year ended 31 December 2023.
```

```
Themembershavenotrequiredthecompanytoobtainanauditofits financial
statementsfortheyearended31December2023inaccordancewithSection476 of
the Companies Act 2006.
```

```
The trustees acknowledge their responsibilities for
```

```
(a)ensuringthatthecharitablecompanykeepsaccountingrecordsthat comply
with Sections 386 and 387 of the Companies Act 2006 and
```

- `(b) 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.` 

```
Thesefinancialstatementshavebeenpreparedinaccordancewiththe provisions
applicable to charitable companies subject to the small companies regime.
```

```
ThefinancialstatementswereapprovedbytheBoardofTrusteesand authorised
for issue on 16 August 2024 and were signed on its behalf by:
```

```
D Charles - Trustee
```

```
The notes form part of these financial statements
```

```
Page 4
```



```
NE Land Sea and Air Museum Ltd.
```

```
Notes to the Financial Statements
```

```
for the Year Ended 31 December 2023
```

## **`1. ACCOUNTING POLICIES`** 

## **`Basis of preparing the financial statements`** 

```
Thefinancialstatementsofthecharitablecompany,whichisa public
benefitentityunderFRS102,havebeenpreparedinaccordancewith the
CharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUK and
RepublicofIreland(FRS102)(effective1January2019)', Financial
ReportingStandard102'TheFinancialReportingStandardapplicablein the
UKandRepublicofIreland'andtheCompaniesAct2006.The financial
statementshavebeenpreparedunderthehistoricalcostconvention, with
the exception of investments which are included at market value.
```

## **`Income`** 

```
AllincomeisrecognisedintheStatementofFinancialActivitiesonce the
charityhasentitlementtothefunds,itisprobablethattheincome will
be received and the amount can be measured reliably.
```

## **`Expenditure`** 

```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegal or
constructiveobligationcommittingthecharitytothatexpenditure,it is
probablethatatransferofeconomicbenefitswillberequired in
settlementandtheamountoftheobligationcanbemeasured reliably.
Expenditureisaccountedforonanaccrualsbasisandhasbeen classified
underheadingsthataggregateallcostrelatedtothecategory.Where costs
cannotbedirectlyattributedtoparticularheadingstheyhave been
allocated to activities on a basis consistent with the use of resources.
```

## **`Tangible fixed assets`** 

```
Depreciationisprovidedatthefollowingannualratesinorderto write
off each asset over its estimated useful life.
Fixtures and fittings- 10% on reducing balance
Motor vehicles- 25% on reducing balance
Computer equipment- 25% straight line basis
```

## **`Taxation`** 

```
The charity is exempt from corporation tax on its charitable activities.
```

## **`Fund accounting`** 

```
Unrestrictedfundscanbeusedinaccordancewiththecharitable objectives
at the discretion of the trustees.
```

```
Restrictedfundscanonlybeusedforparticularrestrictedpurposes within
theobjectsofthecharity.Restrictionsarisewhenspecifiedbythe donor
or when funds are raised for particular restricted purposes.
```

```
Furtherexplanationofthenatureandpurposeofeachfundisincluded in
the notes to the financial statements.
```

## **`Hire purchase and leasing commitments`** 

```
RentalspaidunderoperatingleasesarechargedtotheStatement of
Financial Activities on a straight line basis over the period of the lease.
```

## **`Pension costs and other post-retirement benefits`** 

```
Thecharitablecompanyoperatesadefinedcontributionpension scheme.
Contributionspayabletothecharitablecompany'spensionscheme are
chargedtotheStatementofFinancialActivitiesintheperiodto which
they relate.
```

```
continued...
```

```
Page 5
```



```
NE Land Sea and Air Museum Ltd.
```

## `Notes to the Financial Statements - continued for the Year Ended 31 December 2023` 

## **`2. OTHER TRADING ACTIVITIES`** 

|**`OTHER TRADING ACTIVITIES`**|||
|---|---|---|
||`31.12.23`|`31.12.22`|
||`£`|`£`|
|`Transfer of profits from Subsidiary`|`18,136`|`3,707`|
|`Ridley Project`|`-`|`5,872`|
|`Rental income`|`3,050`|`3,050`|
|`Government grants`|`-`|`3,059`|
|`Sundry receipts`|`2,168`|`4,349`|
||`23,354`|`20,037`|
|**`NET INCOME/(EXPENDITURE)`**|||
|`Net income/(expenditure) is stated after`|||
|`charging/(crediting):`|||
||`31.12.23`|`31.12.22`|
||`£`|`£`|
|`Depreciation - owned assets`|`2,732`|`2,628`|
|`Hire of plant and machinery`|`238`|`563`|



## **`3. NET INCOME/(EXPENDITURE)`** 

## **`4. TRUSTEES' REMUNERATION AND BENEFITS`** 

```
Therewerenotrustees'remunerationorotherbenefitsfortheyear ended
31 December 2023 nor for the year ended 31 December 2022.
```

## **`Trustees' expenses`** 

```
Therewerenotrustees'expensespaidfortheyearended31December 2023
nor for the year ended 31 December 2022.
```

## **`5. STAFF COSTS`** 

```
The average monthly number of employees during the year was as follows:
```

## **`6.`** 

||`31.12.23`|`31.12.22`|
|---|---|---|
|`Full time`|`1`|`1`|
|`No employees received emoluments in excess of £60,000.`|||
|**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**|||
|||`Unrestricted`|
|||`fund`|
|||`£`|
|**`INCOME AND ENDOWMENTS FROM`**|||
|`Donations and legacies`||`57,203`|
|`Other trading activities`||`20,037`|
|**`Total`**||`77,240`|
|**`EXPENDITURE ON`**|||
|**`Charitable activities`**|||
|`Charitable Activities`||`87,083`|
|**`NET INCOME/(EXPENDITURE)`**||`(9,843)`|
|**`RECONCILIATION OF FUNDS`**|||
|`Total funds brought forward`||`58,825`|



```
continued...
```

```
Page 6
```



```
NE Land Sea and Air Museum Ltd.
```

## `Notes to the Financial Statements - continued for the Year Ended 31 December 2023` 

## **`6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`** 

|||||||`Unrestricted`|
|---|---|---|---|---|---|---|
|||||||`fund`|
|||||||`£`|
||**`TOTAL FUNDS CARRIED FORWARD`**|||||`48,982`|
|**`7.`**|**`TANGIBLE FIXED ASSETS`**||||||
|||`Fixtures`|||||
|||`and`|`Motor`|`Computer`|||
|||`fittings`|`vehicles`|`equipment`||`Totals`|
|||`£`|`£`|`£`||`£`|
||**`COST`**||||||
||`At 1 January 2023`|`33,532`|`4,150`|`1,766`||`39,448`|
||`Additions`|`800`|`-`||`-`|`800`|
||`At 31 December 2023`|`34,332`|`4,150`|`1,766`||`40,248`|
||**`DEPRECIATION`**||||||
||`At 1 January 2023`|`17,106`|`2,140`||`861`|`20,107`|
||`Charge for year`|`1,636`|`503`||`593`|`2,732`|
||`At 31 December 2023`|`18,742`|`2,643`|`1,454`||`22,839`|
||**`NET BOOK VALUE`**||||||
||`At 31 December 2023`|`15,590`|`1,507`||`312`|`17,409`|
||`At 31 December 2022`|`16,426`|`2,010`||`905`|`19,341`|
|**`8.`**|**`FIXED ASSET INVESTMENTS`**||||||
|||||||`Unlisted`|
|||||||`investments`|
|||||||`£`|
||**`MARKET VALUE`**||||||
||`At 1 January 2023 and`||||||
||`31 December 2023`|||||`2`|
||**`NET BOOK VALUE`**||||||
||`At 31 December 2023`|||||`2`|
||`At 31 December 2022`|||||`2`|
||`There were no investment assets outside the UK.`||||||
|**`9.`**|**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**||||||
|||||`31.12.23`||`31.12.22`|
|||||`£`||`£`|
||`Other debtors`|||`8,552`||`3,457`|
||`Prepayments`||||`966`|`273`|
|||||`9,518`||`3,730`|



```
continued...
```

```
Page 7
```



```
NE Land Sea and Air Museum Ltd.
```

## `Notes to the Financial Statements - continued for the Year Ended 31 December 2023` 

## **`10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** 

||||`31.12.23`|`31.12.22`|
|---|---|---|---|---|
||||`£`|`£`|
||`Deferred income`||`15,835`|`18,135`|
||`Accrued expenses`||`2,693`|`1,975`|
||||`18,528`|`20,110`|
|**`11.`**|**`MOVEMENT IN FUNDS`**||||
||||`Net`||
||||`movement`|`At`|
|||`At 1.1.23`|`in funds`|`31.12.23`|
|||`£`|`£`|`£`|
||**`Unrestricted funds`**||||
||`General fund`|`48,982`|`3,896`|`52,878`|
||**`TOTAL FUNDS`**|`48,982`|`3,896`|`52,878`|
||`Net movement in funds, included in the above are as follows:`||||
|||`Incoming`|`Resources`|`Movement`|
|||`resources`|`expended`|`in funds`|
|||`£`|`£`|`£`|
||**`Unrestricted funds`**||||
||`General fund`|`79,215`|`(75,319)`|`3,896`|
||**`TOTAL FUNDS`**|`79,215`|`(75,319)`|`3,896`|
||**`Comparatives for movement in funds`**||||
||||`Net`||
||||`movement`|`At`|
|||`At 1.1.22`|`in funds`|`31.12.22`|
|||`£`|`£`|`£`|
||**`Unrestricted funds`**||||
||`General fund`|`58,825`|`(9,843)`|`48,982`|
||**`TOTAL FUNDS`**|`58,825`|`(9,843)`|`48,982`|
||`Comparative net movement in funds, included in the above`||`are as follows:`||
|||`Incoming`|`Resources`|`Movement`|
|||`resources`|`expended`|`in funds`|
|||`£`|`£`|`£`|
||**`Unrestricted funds`**||||
||`General fund`|`77,240`|`(87,083)`|`(9,843)`|
||**`TOTAL FUNDS`**|`77,240`|`(87,083)`|`(9,843)`|



```
continued...
```

```
Page 8
```



```
NE Land Sea and Air Museum Ltd.
```

```
for the Year Ended 31 December 2023
```

## `Notes to the Financial Statements - continued` 

## **`11. MOVEMENT IN FUNDS - continued`** 

```
Acurrentyear12monthsandprioryear12monthscombinedpositionis as
follows:
```

|||`Net`||
|---|---|---|---|
|||`movement`|`At`|
||`At 1.1.22`|`in funds`|`31.12.23`|
||`£`|`£`|`£`|
|**`Unrestricted funds`**||||
|`General fund`|`58,825`|`(5,947)`|`52,878`|
|**`TOTAL FUNDS`**|`58,825`|`(5,947)`|`52,878`|



```
Acurrentyear12monthsandprioryear12monthscombinednetmovement in
funds, included in the above are as follows:
```

|||||`Incoming`|`Incoming`|`Resources`|`Resources`|`Movement`|`Movement`|
|---|---|---|---|---|---|---|---|---|---|
|||||`resources`||`expended`||`in`|`funds`|
|||||`£`||`£`|||`£`|
|**`Unrestricted funds`**||||||||||
|`General fund`||||`156,455`|`(162,402)`|||`(5,947)`||
|**`TOTAL FUNDS`**||||`156,455`|`(162,402)`|||`(5,947)`||
|**`RELATED PARTY`**|**`DISCLOSURES`**|||||||||
|`There`<br>`were`|`no`|`related`|`party`|`transactions`|`for`|`the`|`year`||`ended`|
|`31 December 2023.`||||||||||



## **`12. RELATED PARTY DISCLOSURES`** 

```
Page 9
```



```
NE Land Sea and Air Museum Ltd.
```

|`Detailed Statement of Financial Activities`|`Detailed Statement of Financial Activities`||
|---|---|---|
|`for the Year Ended 31 December 2023`|||
||`31.12.23`|`31.12.22`|
||`£`|`£`|
|**`INCOME AND ENDOWMENTS`**|||
|**`Donations and legacies`**|||
|`Donations`|`4,351`|`2,018`|
|`Museum entrances`|`51,510`|`55,185`|
||`55,861`|`57,203`|
|**`Other trading activities`**|||
|`Transfer of profits from`|||
|`Subsidiary`|`18,136`|`3,707`|
|`Ridley Project`|`-`|`5,872`|
|`Rental income`|`3,050`|`3,050`|
|`Government grants`|`-`|`3,059`|
|`Sundry receipts`|`2,168`|`4,349`|
||`23,354`|`20,037`|
|**`Total incoming resources`**|`79,215`|`77,240`|
|**`EXPENDITURE`**|||
|**`Charitable activities`**|||
|`Wages and salaries`|`21,306`|`21,283`|
|`Pensions`|`1,663`|`465`|
|`Hire of fixed assets`|`238`|`563`|
|`Rent, rates and water`|`119`|`1,516`|
|`Insurance`|`2,438`|`2,297`|
|`Light and heat`|`4,902`|`3,994`|
|`Telephone`|`877`|`899`|
|`Postage and stationery`|`47`|`90`|
|`Sundry expenses`|`1,655`|`3,781`|
|`Repairs and renewals`|`34,880`|`32,218`|
|`Motor and travelling expenses`|`-`|`538`|
|`Acquisition of museum exhibits`|`210`|`12,414`|
|`Depreciation of fixtures and`|||
|`fittings`|`1,635`|`1,733`|
|`Motor vehicles`|`503`|`670`|
|`Computer equipment`|`592`|`226`|
|`Bank charges`|`1,689`|`1,544`|
||`72,754`|`84,231`|
|**`Support costs`**|||
|**`Governance costs`**|||
|`Accountancy and book-keeping`|`2,212`|`2,764`|
|`Legal fees`|`353`|`88`|
||`2,565`|`2,852`|
|`Total resources expended`|`75,319`|`87,083`|
|**`Net income/(expenditure)`**|`3,896`|`(9,843)`|



```
This page does not form part of the statutory financial statements
```

```
Page 10
```



```
REGISTERED COMPANY NUMBER: 02828043 (England and Wales)
REGISTERED CHARITY NUMBER: 1150286
```

```
Report of the Trustees and
```

```
Unaudited Financial Statements for the Year Ended 31 December 2023
```

```
for
```

```
NE Land Sea and Air Museum Ltd.
```

```
Robert Miller & Co.
Kings Hall
```

> `4 Imperial Buildings Houghton-le-Spring Tyne and Wear DH4 4DJ` 



```
NE Land Sea and Air Museum Ltd.
```

```
Contents of the Financial Statements
for the Year Ended 31 December 2023
```

||`Page`|
|---|---|
|`Report of the Trustees`|`1`|
|`Independent Examiner's Report`|`2`|
|`Statement of Financial Activities`|`3`|
|`Balance Sheet`|`4`|
|`Notes to the Financial Statements`|`5 to 9`|
|`Detailed Statement of Financial`||
|`Activities`|`10`|





```
NE Land Sea and Air Museum Ltd.
```

```
Report of the Trustees
for the Year Ended 31 December 2023
```

```
Thetrusteeswhoarealsodirectorsofthecharityforthepurposesof the
CompaniesAct2006,presenttheirreportwiththefinancialstatementsof the
charityfortheyearended31December2023.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:Statementof Recommended
Practiceapplicabletocharitiespreparingtheiraccountsinaccordancewith the
FinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS
102) (effective 1 January 2019).
```

## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** 

## **`Governing document`** 

```
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust, and
constitutesalimitedcompany,limitedbyguarantee,asdefinedbythe Companies
Act 2006.
```

## **`REFERENCE AND ADMINISTRATIVE DETAILS`** 

## **`Registered Company number`** 

```
02828043 (England and Wales)
```

## **`Registered Charity number`** 

```
1150286
```

## **`Registered office`** 

```
Washington Road
Sunderland
Tyne and Wear
SR5 3HZ
```

## **`Trustees`** 

```
Mrs J Charles Director (deceased 28.3.24)
D Charles Surveyor
A Charles Production Operative
D Dellow Production Operative
S Marlee Salesman
I Mclaren Historian
R Potts Systems Analyst
Mrs K Dellow (appointed 16.11.23)
```

## **`Independent Examiner`** 

```
Philip N. Brown
Robert Miller & Co.
Kings Hall
4 Imperial Buildings
Houghton-le-Spring
Tyne and Wear
DH4 4DJ
```

```
Approvedbyorderoftheboardoftrusteeson16August2024andsignedon its
behalf by:
```

```
D Charles - Trustee
```

```
Page 1
```



```
Independent Examiner's Report to the Trustees of
NE Land Sea and Air Museum Ltd.
```

```
Independentexaminer'sreporttothetrusteesofNELandSeaandAirMuseum Ltd.
('the Company')
```

```
Ireporttothecharitytrusteesonmyexaminationoftheaccountsof the
Company for the year ended 31 December 2023.
```

## **`Responsibilities and basis of report`** 

```
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsfor the
purposesofcompanylaw)youareresponsibleforthepreparationofthe accounts
in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
```

```
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredto be
auditedunderPart16ofthe2006Actandareeligiblefor independent
examination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutunderSection145oftheCharitiesAct2011('the2011Act'). In
carryingoutmyexaminationIhavefollowedtheDirectionsgivenbythe Charity
Commission under Section 145(5) (b) of the 2011 Act.
```

## **`Independent examiner's statement`** 

```
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometo my
attention in connection with the examination giving me cause to believe:
```

`1. accounting records were not kept in respect of the Company 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 Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).` 

```
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwith the
examinationtowhichattentionshouldbedrawninthisreportinorderto enable
a proper understanding of the accounts to be reached.
```

```
Philip N. Brown
```

```
Robert Miller & Co.
Kings Hall
4 Imperial Buildings
Houghton-le-Spring
Tyne and Wear
DH4 4DJ
```

```
16 August 2024
```

```
Page 2
```



```
NE Land Sea and Air Museum Ltd.
```

## `Statement of Financial Activities for the Year Ended 31 December 2023` 

|||`31.12.23`|`31.12.22`|
|---|---|---|---|
|||`Unrestricted`|`Total`|
|||`fund`|`funds`|
||`Notes`|`£`|`£`|
|**`INCOME AND ENDOWMENTS FROM`**||||
|`Donations and legacies`||`55,861`|`57,203`|
|`Other trading activities`|`2`|`23,354`|`20,037`|
|**`Total`**||`79,215`|`77,240`|
|**`EXPENDITURE ON`**||||
|**`Charitable activities`**||||
|`Charitable Activities`||`75,319`|`87,083`|
|**`NET INCOME/(EXPENDITURE)`**||`3,896`|`(9,843)`|
|**`RECONCILIATION OF FUNDS`**||||
|`Total funds brought forward`||`48,982`|`58,825`|
|**`TOTAL FUNDS CARRIED FORWARD`**||`52,878`|`48,982`|



```
The notes form part of these financial statements
```

```
Page 3
```



```
NE Land Sea and Air Museum Ltd.
```

## `Balance Sheet 31 December 2023` 

|||`31.12.23`|`31.12.22`|
|---|---|---|---|
|||`Unrestricted`|`Total`|
|||`fund`|`funds`|
||`Notes`|`£`|`£`|
|**`FIXED ASSETS`**||||
|`Tangible assets`|`7`|`17,409`|`19,341`|
|`Investments`|`8`|`2`|`2`|
|||`17,411`|`19,343`|
|**`CURRENT ASSETS`**||||
|`Debtors`|`9`|`9,518`|`3,730`|
|`Cash at bank and in hand`||`44,477`|`46,019`|
|||`53,995`|`49,749`|
|**`CREDITORS`**||||
|`Amounts falling due within one`||||
|`year`|`10`|`(18,528)`|`(20,110)`|
|**`NET CURRENT ASSETS`**||`35,467`|`29,639`|
|**`TOTAL ASSETS LESS CURRENT`**||||
|**`LIABILITIES`**||`52,878`|`48,982`|
|**`NET ASSETS`**||`52,878`|`48,982`|
|**`FUNDS`**|`11`|||
|`Unrestricted funds`||`52,878`|`48,982`|
|**`TOTAL FUNDS`**||`52,878`|`48,982`|



```
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477 of
the Companies Act 2006 for the year ended 31 December 2023.
```

```
Themembershavenotrequiredthecompanytoobtainanauditofits financial
statementsfortheyearended31December2023inaccordancewithSection476 of
the Companies Act 2006.
```

```
The trustees acknowledge their responsibilities for
```

```
(a)ensuringthatthecharitablecompanykeepsaccountingrecordsthat comply
with Sections 386 and 387 of the Companies Act 2006 and
```

- `(b) 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.` 

```
Thesefinancialstatementshavebeenpreparedinaccordancewiththe provisions
applicable to charitable companies subject to the small companies regime.
```

```
ThefinancialstatementswereapprovedbytheBoardofTrusteesand authorised
for issue on 16 August 2024 and were signed on its behalf by:
```

```
D Charles - Trustee
```

```
The notes form part of these financial statements
```

```
Page 4
```



```
NE Land Sea and Air Museum Ltd.
```

```
Notes to the Financial Statements
```

```
for the Year Ended 31 December 2023
```

## **`1. ACCOUNTING POLICIES`** 

## **`Basis of preparing the financial statements`** 

```
Thefinancialstatementsofthecharitablecompany,whichisa public
benefitentityunderFRS102,havebeenpreparedinaccordancewith the
CharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUK and
RepublicofIreland(FRS102)(effective1January2019)', Financial
ReportingStandard102'TheFinancialReportingStandardapplicablein the
UKandRepublicofIreland'andtheCompaniesAct2006.The financial
statementshavebeenpreparedunderthehistoricalcostconvention, with
the exception of investments which are included at market value.
```

## **`Income`** 

```
AllincomeisrecognisedintheStatementofFinancialActivitiesonce the
charityhasentitlementtothefunds,itisprobablethattheincome will
be received and the amount can be measured reliably.
```

## **`Expenditure`** 

```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegal or
constructiveobligationcommittingthecharitytothatexpenditure,it is
probablethatatransferofeconomicbenefitswillberequired in
settlementandtheamountoftheobligationcanbemeasured reliably.
Expenditureisaccountedforonanaccrualsbasisandhasbeen classified
underheadingsthataggregateallcostrelatedtothecategory.Where costs
cannotbedirectlyattributedtoparticularheadingstheyhave been
allocated to activities on a basis consistent with the use of resources.
```

## **`Tangible fixed assets`** 

```
Depreciationisprovidedatthefollowingannualratesinorderto write
off each asset over its estimated useful life.
Fixtures and fittings- 10% on reducing balance
Motor vehicles- 25% on reducing balance
Computer equipment- 25% straight line basis
```

## **`Taxation`** 

```
The charity is exempt from corporation tax on its charitable activities.
```

## **`Fund accounting`** 

```
Unrestrictedfundscanbeusedinaccordancewiththecharitable objectives
at the discretion of the trustees.
```

```
Restrictedfundscanonlybeusedforparticularrestrictedpurposes within
theobjectsofthecharity.Restrictionsarisewhenspecifiedbythe donor
or when funds are raised for particular restricted purposes.
```

```
Furtherexplanationofthenatureandpurposeofeachfundisincluded in
the notes to the financial statements.
```

## **`Hire purchase and leasing commitments`** 

```
RentalspaidunderoperatingleasesarechargedtotheStatement of
Financial Activities on a straight line basis over the period of the lease.
```

## **`Pension costs and other post-retirement benefits`** 

```
Thecharitablecompanyoperatesadefinedcontributionpension scheme.
Contributionspayabletothecharitablecompany'spensionscheme are
chargedtotheStatementofFinancialActivitiesintheperiodto which
they relate.
```

```
continued...
```

```
Page 5
```



```
NE Land Sea and Air Museum Ltd.
```

## `Notes to the Financial Statements - continued for the Year Ended 31 December 2023` 

## **`2. OTHER TRADING ACTIVITIES`** 

|**`OTHER TRADING ACTIVITIES`**|||
|---|---|---|
||`31.12.23`|`31.12.22`|
||`£`|`£`|
|`Transfer of profits from Subsidiary`|`18,136`|`3,707`|
|`Ridley Project`|`-`|`5,872`|
|`Rental income`|`3,050`|`3,050`|
|`Government grants`|`-`|`3,059`|
|`Sundry receipts`|`2,168`|`4,349`|
||`23,354`|`20,037`|
|**`NET INCOME/(EXPENDITURE)`**|||
|`Net income/(expenditure) is stated after`|||
|`charging/(crediting):`|||
||`31.12.23`|`31.12.22`|
||`£`|`£`|
|`Depreciation - owned assets`|`2,732`|`2,628`|
|`Hire of plant and machinery`|`238`|`563`|



## **`3. NET INCOME/(EXPENDITURE)`** 

## **`4. TRUSTEES' REMUNERATION AND BENEFITS`** 

```
Therewerenotrustees'remunerationorotherbenefitsfortheyear ended
31 December 2023 nor for the year ended 31 December 2022.
```

## **`Trustees' expenses`** 

```
Therewerenotrustees'expensespaidfortheyearended31December 2023
nor for the year ended 31 December 2022.
```

## **`5. STAFF COSTS`** 

```
The average monthly number of employees during the year was as follows:
```

## **`6.`** 

||`31.12.23`|`31.12.22`|
|---|---|---|
|`Full time`|`1`|`1`|
|`No employees received emoluments in excess of £60,000.`|||
|**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**|||
|||`Unrestricted`|
|||`fund`|
|||`£`|
|**`INCOME AND ENDOWMENTS FROM`**|||
|`Donations and legacies`||`57,203`|
|`Other trading activities`||`20,037`|
|**`Total`**||`77,240`|
|**`EXPENDITURE ON`**|||
|**`Charitable activities`**|||
|`Charitable Activities`||`87,083`|
|**`NET INCOME/(EXPENDITURE)`**||`(9,843)`|
|**`RECONCILIATION OF FUNDS`**|||
|`Total funds brought forward`||`58,825`|



```
continued...
```

```
Page 6
```



```
NE Land Sea and Air Museum Ltd.
```

## `Notes to the Financial Statements - continued for the Year Ended 31 December 2023` 

## **`6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`** 

|||||||`Unrestricted`|
|---|---|---|---|---|---|---|
|||||||`fund`|
|||||||`£`|
||**`TOTAL FUNDS CARRIED FORWARD`**|||||`48,982`|
|**`7.`**|**`TANGIBLE FIXED ASSETS`**||||||
|||`Fixtures`|||||
|||`and`|`Motor`|`Computer`|||
|||`fittings`|`vehicles`|`equipment`||`Totals`|
|||`£`|`£`|`£`||`£`|
||**`COST`**||||||
||`At 1 January 2023`|`33,532`|`4,150`|`1,766`||`39,448`|
||`Additions`|`800`|`-`||`-`|`800`|
||`At 31 December 2023`|`34,332`|`4,150`|`1,766`||`40,248`|
||**`DEPRECIATION`**||||||
||`At 1 January 2023`|`17,106`|`2,140`||`861`|`20,107`|
||`Charge for year`|`1,636`|`503`||`593`|`2,732`|
||`At 31 December 2023`|`18,742`|`2,643`|`1,454`||`22,839`|
||**`NET BOOK VALUE`**||||||
||`At 31 December 2023`|`15,590`|`1,507`||`312`|`17,409`|
||`At 31 December 2022`|`16,426`|`2,010`||`905`|`19,341`|
|**`8.`**|**`FIXED ASSET INVESTMENTS`**||||||
|||||||`Unlisted`|
|||||||`investments`|
|||||||`£`|
||**`MARKET VALUE`**||||||
||`At 1 January 2023 and`||||||
||`31 December 2023`|||||`2`|
||**`NET BOOK VALUE`**||||||
||`At 31 December 2023`|||||`2`|
||`At 31 December 2022`|||||`2`|
||`There were no investment assets outside the UK.`||||||
|**`9.`**|**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**||||||
|||||`31.12.23`||`31.12.22`|
|||||`£`||`£`|
||`Other debtors`|||`8,552`||`3,457`|
||`Prepayments`||||`966`|`273`|
|||||`9,518`||`3,730`|



```
continued...
```

```
Page 7
```



```
NE Land Sea and Air Museum Ltd.
```

## `Notes to the Financial Statements - continued for the Year Ended 31 December 2023` 

## **`10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** 

||||`31.12.23`|`31.12.22`|
|---|---|---|---|---|
||||`£`|`£`|
||`Deferred income`||`15,835`|`18,135`|
||`Accrued expenses`||`2,693`|`1,975`|
||||`18,528`|`20,110`|
|**`11.`**|**`MOVEMENT IN FUNDS`**||||
||||`Net`||
||||`movement`|`At`|
|||`At 1.1.23`|`in funds`|`31.12.23`|
|||`£`|`£`|`£`|
||**`Unrestricted funds`**||||
||`General fund`|`48,982`|`3,896`|`52,878`|
||**`TOTAL FUNDS`**|`48,982`|`3,896`|`52,878`|
||`Net movement in funds, included in the above are as follows:`||||
|||`Incoming`|`Resources`|`Movement`|
|||`resources`|`expended`|`in funds`|
|||`£`|`£`|`£`|
||**`Unrestricted funds`**||||
||`General fund`|`79,215`|`(75,319)`|`3,896`|
||**`TOTAL FUNDS`**|`79,215`|`(75,319)`|`3,896`|
||**`Comparatives for movement in funds`**||||
||||`Net`||
||||`movement`|`At`|
|||`At 1.1.22`|`in funds`|`31.12.22`|
|||`£`|`£`|`£`|
||**`Unrestricted funds`**||||
||`General fund`|`58,825`|`(9,843)`|`48,982`|
||**`TOTAL FUNDS`**|`58,825`|`(9,843)`|`48,982`|
||`Comparative net movement in funds, included in the above`||`are as follows:`||
|||`Incoming`|`Resources`|`Movement`|
|||`resources`|`expended`|`in funds`|
|||`£`|`£`|`£`|
||**`Unrestricted funds`**||||
||`General fund`|`77,240`|`(87,083)`|`(9,843)`|
||**`TOTAL FUNDS`**|`77,240`|`(87,083)`|`(9,843)`|



```
continued...
```

```
Page 8
```



```
NE Land Sea and Air Museum Ltd.
```

```
for the Year Ended 31 December 2023
```

## `Notes to the Financial Statements - continued` 

## **`11. MOVEMENT IN FUNDS - continued`** 

```
Acurrentyear12monthsandprioryear12monthscombinedpositionis as
follows:
```

|||`Net`||
|---|---|---|---|
|||`movement`|`At`|
||`At 1.1.22`|`in funds`|`31.12.23`|
||`£`|`£`|`£`|
|**`Unrestricted funds`**||||
|`General fund`|`58,825`|`(5,947)`|`52,878`|
|**`TOTAL FUNDS`**|`58,825`|`(5,947)`|`52,878`|



```
Acurrentyear12monthsandprioryear12monthscombinednetmovement in
funds, included in the above are as follows:
```

|||||`Incoming`|`Incoming`|`Resources`|`Resources`|`Movement`|`Movement`|
|---|---|---|---|---|---|---|---|---|---|
|||||`resources`||`expended`||`in`|`funds`|
|||||`£`||`£`|||`£`|
|**`Unrestricted funds`**||||||||||
|`General fund`||||`156,455`|`(162,402)`|||`(5,947)`||
|**`TOTAL FUNDS`**||||`156,455`|`(162,402)`|||`(5,947)`||
|**`RELATED PARTY`**|**`DISCLOSURES`**|||||||||
|`There`<br>`were`|`no`|`related`|`party`|`transactions`|`for`|`the`|`year`||`ended`|
|`31 December 2023.`||||||||||



## **`12. RELATED PARTY DISCLOSURES`** 

```
Page 9
```



```
NE Land Sea and Air Museum Ltd.
```

|`Detailed Statement of Financial Activities`|`Detailed Statement of Financial Activities`||
|---|---|---|
|`for the Year Ended 31 December 2023`|||
||`31.12.23`|`31.12.22`|
||`£`|`£`|
|**`INCOME AND ENDOWMENTS`**|||
|**`Donations and legacies`**|||
|`Donations`|`4,351`|`2,018`|
|`Museum entrances`|`51,510`|`55,185`|
||`55,861`|`57,203`|
|**`Other trading activities`**|||
|`Transfer of profits from`|||
|`Subsidiary`|`18,136`|`3,707`|
|`Ridley Project`|`-`|`5,872`|
|`Rental income`|`3,050`|`3,050`|
|`Government grants`|`-`|`3,059`|
|`Sundry receipts`|`2,168`|`4,349`|
||`23,354`|`20,037`|
|**`Total incoming resources`**|`79,215`|`77,240`|
|**`EXPENDITURE`**|||
|**`Charitable activities`**|||
|`Wages and salaries`|`21,306`|`21,283`|
|`Pensions`|`1,663`|`465`|
|`Hire of fixed assets`|`238`|`563`|
|`Rent, rates and water`|`119`|`1,516`|
|`Insurance`|`2,438`|`2,297`|
|`Light and heat`|`4,902`|`3,994`|
|`Telephone`|`877`|`899`|
|`Postage and stationery`|`47`|`90`|
|`Sundry expenses`|`1,655`|`3,781`|
|`Repairs and renewals`|`34,880`|`32,218`|
|`Motor and travelling expenses`|`-`|`538`|
|`Acquisition of museum exhibits`|`210`|`12,414`|
|`Depreciation of fixtures and`|||
|`fittings`|`1,635`|`1,733`|
|`Motor vehicles`|`503`|`670`|
|`Computer equipment`|`592`|`226`|
|`Bank charges`|`1,689`|`1,544`|
||`72,754`|`84,231`|
|**`Support costs`**|||
|**`Governance costs`**|||
|`Accountancy and book-keeping`|`2,212`|`2,764`|
|`Legal fees`|`353`|`88`|
||`2,565`|`2,852`|
|`Total resources expended`|`75,319`|`87,083`|
|**`Net income/(expenditure)`**|`3,896`|`(9,843)`|



```
This page does not form part of the statutory financial statements
```

```
Page 10
```