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WWI AVIATION
HERITAGE TRUST
WORLD WAR I AVIATION HERITAGE TRUST LIMITED
YEAR ENDED 31 DECEMBER 2023
DIRECTORS, REPORT AND FINANCIAL STATEMENTS

INDEX
3 General Information
4 Director5, Report
7 Chief Trustee's Statement
12 Statement of Directors, Responsibi1Sties
14 Independent Examiner's Report
16 Balance Sheet
17 Statement of Financial Activities
18 Notes
WORLD WAR I AVIATION HERITAGE TRUST LIMITED

GENERAL INFORMATION
SHORT NAME
WWI AHT
MUSEUM PREMISES AND REGISTERED OFFICE
3 The Willows
North Warnborough
Hook
Hants RG29 1 DR
COMPANY REGISTRATION NUMBER
8753767
REGISTERED CHARITY NUMBER
1156699
DIRECTORS AND TRUSTEES
His Honour P Cle88
Mr MK Drayton
Mr RA Forsythe
Mr JH Martin
Mr OCHW Wulff
HON. SECRETARY
Mr RA Forsythe
INDEPENDENT EXAMINER
Anna Coote
MAAT
Gilroy & Brookes
Chartered Accountants
Suite 15, The Enterprise Centre
Coxbf idge Business Centre
Farnham, Surrey
GUIO 5EH
BANKERS
Barclays Bank

WORLD WAR I AVIATION HERITAGE TRUST LIMITED
DIREcfoRS' REPORT
YEAR ENDED 31 DECEMBER 2023
PRINCIPAL AcfiviTY
This is the tenth annual report of the WWI Aviation Heritage Trust Ltd. The company wa5
incorporated on the 29 October 2013, to advance the education in the evolution of military
aviation and the courage of pilots in the Great War through the establishment of a collection
of World War l aircraft. The company is a registered charity, number 8753767 and its
income is derived from educational services, donations, sponsorships, and grants.
GOVERNING DOCUMENT
The World War l Aviatlon Heritage Trust is a company without share capital, limited by
8uarantee, and it is administered in accordance wlth Its Memorandum and Articles of
Association.
ORGANISATION
The day-to-day operation and administration are carried out by the Trustees. The directors
of the companyj who for the purposes of charity law are the trustees, are people whose
knowledge and experience qualify them for election to the Board of the World War I
A viation Heritage Trust Llmited.
MISSION STATEMENT
The World War l Aviation Herita8e Trust seeks to advance education in the evolutlon of
military aviation and the courage of pilots in the Great War through the establishment and
maintenance of a collection of flying, reproduction World War l aircraft.
RESERVES
The directors consider it prudent that, given the nature of the Trust's income, general
reserves, whether designated or free, are always equal to the gr055 operational costs of the
Trust for a calendar quarter. This figure should be considered the absolute minimum to
permit the Trust to operate with freedom.

RISK
The major risks to which the charity is exposed, as identified by the Trustees and the Board,
have been reviewed and systems are in place to mitigate these risks. The uncertainty of alr
shows interested in displaying WWI reproduction aircraft continues to reduce. We have
therefore looked for income streams outside the air show sector.
PUBLIC BENEFIT STATEMENT
The Trust has carried this out bv:
l. Importing 'late-model original, Great War aircraft into the United Kingdom.
2. Undertaking a series of flying and static displays of the aircraft to illustrate the rapid
development of aircraft production and design 1914-1918.
3. Providing a wide-ran8ing education service to schools and colleges lincludin8 pupils with
special educational needs1, families and adults lincludlng lifelong learning for older
people).
4. Working in partnership with other Similar organisations to further the Trust's aims.
S. Training and using volunteers In many area5 of the Trust's work.
6. Raising funds through applying for grants and encouraging sponsorship and donations.
7. Holding pilot chat sessions about our vintage aircraft to spread the word and ralse funds
to keep them flyin8.
8. Beginning a programme of visits to schools and non-aviation events to raise funds as our
1915 vintage simulator controllin8 a VR game called Flyin8 Aces is now mobile.

WORLD WAR I AVIATION HERITAGE TRUST LIMITED
DIRECTORS, REPORT
YEAR ENDED 31 DECEMBER 2023 Icontinuedl
DIRECTORS
The directors in office during the period were..
His Honour P Cle88
Mr MK Drayton
Mr RA Forsythe
Mr JH Martin
Mr OCHW Wulff
R A Forsyt
Chief Trustee
10 September 2024

WORLD WAR I AVIATION HERITAGE TRUST LIMITED
CHIEF TRUSTEE'S STATEMENT
YEAR ENDED 31 DECEMBER Z022
GENERAL OVERVIEW
Introduction
Our flyin8 season is between April and September each year. We attended both Air Shows
at Stow Maries in accordance with our Contract but we were limited by unserviceability and
crosswlnd limits. Since the end of the WWI Centenary celebrations and the pandemic,
there has been little interest in external shows paying for us to display the aircraft.
The Albatros has proved to be a challenge to keep serviceable and we have changed the
servicln8 arrangements to reduce costs. We have successfully bid to the UK Government
Reach for the Sky Programme and received £24K. By the end of the Year thirty el8ht schools
and 2970 children had particpated in the day long event which was only made possible bv
a team of volunteers of whom Ant and Ed Abery (the Twins) stood out having attended
every visit. The Trustees have sought recognition for the Twins, outstanding volunteerin8
efforts.
In Sep 23, the VAT reclaimed for the Albatros was invested in an annual NSI 8rowth Bond.
In the Spring of 2023, we concluded a succesful programme of podcasts where our pilots
and friends discussed the WWI aeroplanes that they fly. In the Autumn, we commenced a
further programme with the The Vintage Avlator Ltd Chief Pilot, John Lanham, dlscusslng
their amazin8 range of WWI aircraft.
The WWI AHT STEM Programme {SESa Slmulator, WWI Avlatlon Quli and WWI Poem
Wrltin81
The WWI Aviation Heritage Trust has now started an 18-month
Journey visitlng 50+ Primary Schools in Essex with our Simulator
funded by a grant from the CAA'S Reach For the Sky Initiative.
One hundred and thirty-seven schools applied for the WWI
AHT day vi51t so we hope this will become an enduring feature.
The Programme is to encourage and inform Years 5 and 6 about
careers in aviation. It is important that they understand the
origins of the flying machine and how it sur8ed into the front
pages over a hundred years ago in World War l. This is exactly
what the Trust is doing by visiting the Schools with their WWI
Simulator. The Pupils are all motivated by the prospect of
flight in a simulator designed in 1915 based on WWI SE5a
fighter with a VR game that includes all the missions available
to a Scout pilot as they were known back in the dav.

While not in the Sim, they either take part in a quiz about the life and times of the
simulator's designer, Major Lanoe Hawker VC DSO RFC, or take part in poetry writing
workshop based on the Great War which
culminates in each of them wrlting a poem
on seeded paper as a part of another of our
initiatives
Poems, Poppies, and Planes.
Our plan is to drop more than 3000 poems
from our Nieuport 17 (Poetry Plane) over
appropriate sites in N France in Jul 2024
where they will be collected and planted by
the French children as an act of
remembrance and reconciliation.
The
Britlsh, French and German Memorial
Flowers (Poppy, Cornflower, and Forget-
me-Notl are the seeds in the paper. It is our hope for the Poetry Plane to bring some of the
overseas poems back to England in due course. We are delighted with the progress so far.
Sam Dunne, the Headteacher at Colne Engaine Primary School, wrote after our visit:
I would just like to say another big thank youfor the wonderful opportunity the children
had today. The whole Session was so very well orgonised, and the children hove been
talking ubout it ¢711 afternoon. They thoroughly enjoyed leorning the history in clo55 and
then experiencing the simulator. We arefull swing with some wonderful poetry too.
Opportunitie5 like today are those golden moments, moments that moke children
0spir17tionol about theirfutures ond know more about the endle55 opportunities there are
out therefor the toking. Who knows we muy hove onother oviation enthusiast joining you
or seeking out o new interestl
Thank you for bringing your knowledge and enthusiasm to our little School and of course
being part of such o brilliontSTEM opportunity.
è14Vt,
The poetry-writir$8 is not restricted to England (Essex, Surrev,
Cornwall, & Hamp5hirel but children in France, Germany and New
Zealand are being invited to participate. A small team of 8 volunteers
are giving freely of their time. Each visit involves 3 members of the
Team for 6 hours on site- 1500 hours of volunteering.
The Trust
The Trust ha5 one main base of operation, the Stow Maries Great War Aerodrome near
Maldon in Essex, the only largely intact RFC Home Defence still in existence, which is now
heritage site. The BE 2 IG-CJZOI, and the Albatros Dva IG-WAHTI were based at Stow. We
renewed our annual agreement with Stow Maries and with Oliver Wulff (Trusteel who owns
the BE2 and Albatros. We have an open-ended agreement with the owner of the Nieuport

17, John Gilbert.
The Collection
Now that the conservation of Stow Maries Is well underway and museum status has been
granted, artefacts have been assembled by WWI AHT. They include a Maxim gun as was
fitted to the Albatros, a Lewis gun and a Le Clerget engine kindly loaned by WWI AHT to
Stow Maries.
Alr Shows
The WSngs and Wheels air show took place in May 2023 and the Propwash in July. We were
able to attend both air shows but had to substitute the Albatros with the Nieuport due to
servicing problem for the first Event in May. Sadly, at the Propwash the crosswind limits
precluded any flying but we were able to ground run the Albatros.
Educatlon
See the STEM Programme above.
Englneerlng
While seeking Way5 to reduce the cost of engineering of the aircraft, one of our pllots, John
Gllbert, who repairs aircraft and gliders for a living offered to undertake the servicing of our
aircraft without charging for his labour. Thls is a very generous offer, and the quid pro quo
is that he get5 to fly the aircraft. Thls arrangement has been enshrined in a contract
between WWIAHT.
Activities and Links with Other Agencles
The Trust works with Stow Maries Great War Aerodrome ISMGWAI Trust to meet our aims
which are entirely complementary. We have a 8ood working relationship with the other
Trusts in England that operate WWI aeroplanes.

Patrons of WWI AHT
Membership has been reviewed and a community of Patrons who share the Trust's
ambitions has been set up. The numbers at the end of 2022 were 43. They do not have
voting rights but do receive a Pow IPatron of WWI AHTI card and a newsletter.
Flnances
The Trust incurred very few costs related to flying the aircraft apart from the routine
servlclng and minor unplanned maintenance.
Reserves
The trustees have reviewed the charity's reserves policy and have agreed that the board
will make a fresh assessment annually of the amount the charity need5 to hold in reserve
and for it to be approved by the trustees. The trustees are taking actions to increase the
designated reserve towards the full value of the VAT reclaimed.
For 2023 the designated reserve is £88,889, lar8ely being the amount of the VAT reclaimed
from HMRC in prior years. A portion of this is potentially repayable to HMRC should the
charity cease trading or the Albatros aircraft cease to be operated by the trust. The Trustees
have elected to invest the sum of £95K Ithe VAT Reclaim plus interest) in a l year NSI
Growth Bond as the Payee of the VAT, TVAL, does not seek its repayment. We intend to
revislt the issue when the 10-year HMRC proscription is lifted in Sep 2028. The current Bond
matures on 25 Sep 24 at 6.25% which should release >£6k interest for WWIAHT. It Is our
Intention to invest in a similar Bond for 2025 when this one matures.
Plans
The objects of the charity, as stated in its Memorandum and Articles of Association, are to
advance education in the evolution of military aviation and the coura8e of pilots in the Great
War through the establishment and maintenance of a collection of flyin8 late-model ori8inal
World War l aircraft.
This will be achieved by the followSng aim5'.
To bring different aircraft to the UK to tell the story of the development of men
and machines in WWI.
To establish a permanent squadron of aircraft by getting donors to loan them to
WWI AHT.
To establish an engineering base for the visiting and resident aircraft and to
encourage volunteer 5UPPOrt.
To create an enduring educational programme of school visits, a STEM hub and
io

an apprenticeship scheme with TVAL support.
The Trust's priorities for the period 2015-21 have included the following strategic
objectives..
To increase the size of the collection by loans and leasing.
To provide a permanent home for the collection.
To secure adequate funds and resources to achieve these goals.
R A Forsyt
rustee
10 September 2024
li

WORLD WAR I AVIATION HERITAGE TRUST LIMITED
STATEMENT OF DIRECTORS, RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements
in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year
which glve a true and fair view of the of the company and of the surplus or deficit of the
company for that perlod. In preparing those financial statements, the directors are required
to:
select suitable accountin8 policies and then apply them conslstentlv.
observe the methods and principles in the Charities SORP IFRS 1021:
make judgements and estimates that are reasonable and prudent,.
state whether applicable UK Accounting Standards have been followed, subject
to any material departures disclosed and explained in the financial statements.
prepare the financial 5t3tements on the going concern basls unless It Is
Inappropriate to presume that the company will continue in business.
The dlrectors, who are directors for the purposes of company law and trustees for the
purposes of charity law, are responsible for keeping proper accounting records that disclose
with reasonable accuracy at any time the financial position of the company and to enable
them to ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the company and hence for takin8
reasonable steps for the prevention and detection of fraud and other irre8ularities.
In so far as the directors are aware:
there is no relevant information of which the company's independent examiner
is unaware,. and
the directors have taken all steps that they ought to have taken to make
themselves aware of any relevant information and to establish that the independent
examiner is aware of that information.
12

Small company provisions
This report has been prepared in accordance with the provisions applicable to small
companies subject to the small companies, regime under Part 15 of the Companies Act
2006.
Signed on behalf of the directors
RA Forsythe Director
10 September2024
13

INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS
OF
WORLD WAR I AVIATION HERITAGE TRUST LIMITED
I report on the accounts of the Trust for the year ended 31 December 2023, which are set
out on pages 15 to 19.
Respectlve responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's
trustees consider that an audit is not required for this year (under section 144121 of the
Charities Act 2011 (the Charities Actll and that an independent examination is needed.
It is my responsibility to:
examine the accounts lunder section 145 of the Charities Act),.
to follow the procedure5 laid down in the General Directions given by the Charity
Commission (under section 145151161 of the Charlties Act),. and
to state whether particular matters have come to my attention.
Basls of Inde
endent examlnerfs re
ort
My examlnation was carried out in accordance with the General Directions glven by the
Charity Commission. An examination includes a review of the accountin8 records kept bv
the charity and a comparlson of the accounts presented with those records. It also includes
consideration of any unusual items or disclosures In the accounts and seeking explanations
from the trustees concerning any such matters. The procedures undertaken do not provide
all the evidence that would be required in an audit, and consequently no opinion is given
a5 to whether the accounts present a "true and fair" view and the report is limited to those
matters set out in the statement below.
Inde
endent examlnerfs statement
In connection with my examination, no matter has come to my attention:
111 which gives me reasonable cause to believe that, in any material respect, the
requirements
to keep accounting records in accordance with section 130 of the Charities Act,. and
to prepare account5 which accord with the accounting records and comply with the
accounting requirements of the Charities Act have not been met,. or
14

121 to which, in my opinion, attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
Anna Coote
MAAT
Gilroy & Brookes
Chartered Accountants
Suite 15, The Enterprise Centre
Coxbridge Business Park
Farnham, Surrey
GUIO 5EH
September 2024
15

WORLD WAR I AVIATION HERITAGE TRUST LIMITED
BALANCE SHEET AS AT 31 DECEMBER 2023
Total Funds
31.012.23
Total Funds
31.12.22
Notes
FIXED A55ETS
Tangible Asset5
532
810
CURRENT ASSETS
Debtor5.' amounts falling due wlthln one yèar
Cash at bank and in hand
1,755
97,031
98,786
3,218
99,901
103,119
CREDITORS
Amounts falling due wlthln one year
Loans from Directors
19301
17,9991
19301
13,0001
TOTAL NET ASSETS
90.389
99,999
FUNDS
Unrestricted funds
90,389
99.999
TOTAL FUNDS
90,389
99,999
For the year ending 31 December 2022, the company wa5 entitled to exemption from audit
under section 477 of the Companies Act 2006.
The members have not requlred the company to obtain an audit in accordance with
section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the
Act with respect to accounting records and for the preparation of accounts.
RA FORSYTHE
l Directors
M DRA￿ON
Approved by the Board: 10 September 2024
The notes on pages 18 to 20 form part of these financial statements.
16

WORLD WAR I AVIATION HERITAGE TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
(incorporating the
INCOME AND EXPENDITURE ACCOUNTI
YEAR ENDED 31 DECEMBER 2023
Un￿StrICted
Funds
Restricted
Funds
Total Fun(ts
31.12.23
Total Funds
31.12.22
Note5
INCOMING RESOURCES
Donatlons, 8rant5 and spon50rshlp
Charltable Aetlvlties
Trading Activitie5
Investment Activity
20,935
4,898
20,935
4,898
19.231
7.700
621
621
94
Total kncornlTrg r?sou￿e$
26,454
26.454
27,025
RESOURCES EXPENDED
Charitable AciivitiÈs
Tradin8 Actlvltles
36,064
36,064
22,478
Costs of 8•noratlng funds
36,064
36,064
22.478
NET INCOMINGIIOUTGOINfjI
RESOURCES
19,6101
19,6101
4,547
Transfers betw••n funds
Net movemeni In fund$
19.6101
19,6101
Tot•1 lund$ brought10￿ard
99,999
99,999
95,452
TOTAL FUNOS CARRIED FORWAAD
90,389
90,389
99,999
17

WORLD WAR I AVIATION HERITAGE TRUST LIMITED
YEAR ENDED 31 DECEMBER 2022
NOTES TO THE FINANCIAL STATEMENTS
I. ACCOUNTING POLICIES
The principal accounting policies adopted in the preparation of these financlal
statements are set out below.
al Basls of accountlng:
These financial statements have been prepared under the historical cost
convention, and in accordance with the Financial Reporting Standards for Smaller
Entitie5 leffective January 20071. This is in accordance with the Statement of
Recommended Practice for charities.
b) Income and expendlture:
Donations and grants arising in the course of fund raising are credited to the
appropriate funds as and when received. Any income arising by entitlement or
agreement is accounted for when receivable. Expenditure is accounted for, on
the accruals basis, when incurred. Except for donated equipment, no account is
taken of the value of services or facillties provided to the company free of charge.
cl Stock:
Stock Is valued at the lower of cost, or the value advised by the donor for donated
stock, or net realisable value.
el Fund accountlnB:
Unrestricted funds may be used for general charitable purposes at the company's
discretion. Restricted funds are those where the donor has imposed or agreed to
restrictions, which are legally bindin8, on the use of funds contributed.
2. Tanglble Flxed Assets
Cost at l January 2023
Additions
Depreciation5
810
12771
At 31 December 2023
533
18

3. DEBTORS
Amounts falling due within one year
2023
2022
Pre-paid insurance
VAT
1,295
460
3,096
122
1,755
3,218
4. CREDITORS
Amounts falling due within one year..
2023
2022
Other creditors and VAT
930
930
S. RESERVE5
2023
2022
Summary of the year's movements
UNRESTRICTED FUNDS
Net surpluslldeficitl for the financial year
Balance brought forward
19,6101
99,999
4,547
95,452
Balance carried forward
£90,389
£99,999
These reserves are made up of the following amounts
Designated reserves
88,889
94,998
General reserve
1,500
1,500
Designated reserves consist of the majority of the VAT reclaimed from HMRC in prior
Years as per note 5 below. This included an amount of £47,486 12022 £56,9841
repayable to HM RC under the rules of the Capital Goods Scheme should the Trust
cease to operate its Albatros aircraft. This amount reflects the remaining period of
usage of the aircraft under the scheme. The repayable amount will reduce with every
further year of usage. The balance of £41,41312020 £38,004) represents the amount
the trustees intend to repay to the exporting company as and when funds allow.
19

6. TRANSACTIONS INVOLVING OIREcfoRS
There were no transactions in the year involving directors other than in the normal
course of activity.
7. NET INCOME FOR THE YEAR
In accordance with the company's articles, directors are not entitled to remuneration.
The appolntment of Secretary is honorary.
No remuneration or expenses were paid to directors or to connected persons.
The company employed nil staff and no employee recelved emoluments exceeding
£60,000 per annum.
GUARANTEES
Every member of the company undertakes to contribute such amount as may be
required Inot exceeding £ 11 to the company's assets if it should be wound up while
he is a member or within one year after he ceases to be a member.
TAXATION
As a registered charity, the company is exempt from taxation on its income and gains.
10. FUTURE COMMITMENTS
There were no capital expenditure or revenue commitments authorised or
contracted for at 31 December 2023.
11. RELATED PARTY TRANSACTIONS
One of the trustees, Mr O Wulff has made a short-term loan to cover operating
expenses of the charity. repayable as funds allow and the loan was outstandin8 at the
year end.
12 CASH FLOW STATEMENT
The Charity qualifies as a small charity and taken advantage of the exemption
provided by SORP IFRS 1021 as amended by Bulletin I, not to prepare a cash flow
statement
20

13
DETAILED STATEMENT OF FINANCIAL AcfiviTIES
Total
Total
Funds 2023
Funds 2022
Charitable Actlvities lincomin8 resources)
Appearance and other fees
Membership fees and merchandise
4,898
7,260
4,898
7,260
Total
Funds 2023
Total
Funds 2022
Bank Interest Recelvable
621
94
Total
Funds 2023
Total
Funds 2022
Charltable Actfvltles (resources expended)
Bank and other finance costs
Reta iner for expert support
Appearance costs
Aircraft maintenance and other running costs
Insurance
Merchandise
Aircraft restoration
Legal a nd administrative costs
Website, H05ting and consultancy costs
Schools STEM programme Costs
781
600
1,702
600
180
8,260
6,782
823
175
15,690
3,678
1,637
1,020
278
12,378
36,064
1,454
2,852
22,478
This page does not form part of the financial statements
21