Reglstered number: 08896426
Charity number: 1156848
DUNSFOLD COLLECTION
(A company limited by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

DUNSFOLD COLLECTION
(A company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the Charity. its Trustees and adviser5
Trustees. report
Independent examinetrs report
Statement of financial activities
Balance sheet
Notes to the financial statements
9-22

DUNSFOLD COLLECTION
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 JULY 2024
Trustees
P Bashall
R Beddall
A Munden (appointed 16 January 2024)
G Pusey
Company registered
number
08896426
Chaiity registered
number
1156848
Registered offico
The Dunsfold Collection
Alfold Road
Dunsfold
Surrey
GU8 4NP
Accountants
Larking Gowen LLP
Chartered Accountants
1 st Floor. Prospect House
Rouen Road
Norwich
NR1 1RE
Page 1

DUNSFOLD COLLECTION
(A company limited by guardntee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 JULY 2024
The Trustees present their annual report together the financial statements of the Charity for the year 1
August 2023 to 31 July 2024. The Annual report serves the purposes of both a Trustees, report and a directors,
report under company law. The Trustees confim that the Annual report and financial statements of the
charitable company comply wth the Current statutory requirements, the requirements of the charitable
company's goveming document and the provisions of the Statement of Rec£smmended PractiTr (SORP)
applicable to charities preparing their accounts in accordance with the Finanual Reporting Standard applicable
in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Ccmpanies Act 2006, the Strategic report required
of medium and large companies under the Companies Act 20￿ (Strategic Report and Directors, Report)
Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objects for which the charity is established are the advancement of education for the public benefit by
establishing and maintaining a museum of Land Rover vehicles which have a historic or educative value
together with associated artefacts and d(Kuments related to the Land Rover company. The Dunsfold Collection
is now the largest collection of Land Rovers in the world and June 2023 saw the establishmenl of a permanent
museum building for the first time. The museum's collection is displayed at public events and items may be
loaned to such charitable institutions as the twstees may selecL
In setting objectives and planning for activities. the Trustees have given due consideration to general guidan
published by the Charity Commission relating to public benefit. induding the guidance 'Public benefit.. running a
charity (PB2)'.
b. Strategies for achieving objectlves
Since the museum building opened, the trustees. strategy has been to mount a number of public open days
each year, with the Collection vehicles being rotated betr￿en the museum and storage locations, to ensure a
different presentation at each. The museum was al￿ to be made available for visits by private individuals and
vehicle clubs, with the vehicles on display drawn from the Collection to reflect the S￿Lf1¢ interests of those
groups. The museum building is to be used as a Spa￿ in which to host talks given by specialists in Land Rover
history and events. Work was to continue in setting up the archive to be available for members of the public,
particularly those researching specific aspects of Land Rover history.
c. Activities undertaken to achieve objectlves
Since July 2023 there have been 3 very successful public open days viith, on each occasion, demand for
tickets ex￿edIng available places. Private tours also began in July 2023 ￿￿th a total of 14 taking pla￿ during
the year wth group sizes ranging from 3 to 100 and c£)ming from as far afield as Portugal and the USA. The
first evening talk took place in March 2024 and during the year the Collection displayed vehicles at 3 major
events as well as providing vehicles for filming assignments.
Page 2

DUNSFOLD COLLECTION
(A company limited by guarantee)
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
Achievements and perfonnance
a. Main achievements of the Charity
The opening of the mu￿uM building resulted in an increasing workload for the trustees and therefore a further
trustee was recruited in January 2024. A review of govemance led to the derision to appoint new accountants
able to provide specific charity expertise and this took place in 2024 with the engagement of Larking Gowen
LLP.
In October 2023 the Collection v￿n the 'Collections' category in the Royal Automobile Club's annual Historic
Awards. The judges noted that the Collection occupies limited premises which allow only a fraction of the 140-
strong collection to be on display at any one time. However, the museum is curated to make the best possible
use of that limited Spa￿ and is a fascinating and hugely informative place for Land Rover devotees, wth the
rotation of exhibits meaning that visitors can retum again and again and see something different each time.
Financial review
. Going concern
After making appropriate enquiries, the Twstees have a reasonable expectation that the Charity has adequate
reSoU￿S to continue in operational existen￿ for the foreseeable future. For this reason, they continue to
adopt the going concem basis in preparing the finanaal statements. Further details regarding the adoption of
the going concem basis can be found in the accounting policies.
b. Reserves policy
Unrestricted funds at 31 July 2024 I￿re £666,012 (2023: £671.616).
It is the policy of the charity that unrestricted funds (excluding fixed assets) which have not been designed for a
specific use should be maintained at a level equivalent to between three and six month's expenditure. The
trustees consider that reserves at this level wll ensure that. in the event of a significant drop in funding, they
11 be able to continue the charity's current aclivities while consideration is given to ways in which additional
funds may be raised. The trustees have no concems over the level of reserves.
Assets exceed liabilities. and includes cash at bank and in hand of £37.058 (2023= £10,334). The trustees are of
the opinion that the financial performance of the charity and it's trading subsidiary have continued in line with
their expectation and will allow them to fulfil the aims and objects of the charity. No adverse effects have
occurred between the financial pericrfj end and the signing of the tnjstees report that effect this financial
position.
Structure, govemance and management
a. Constitution
Dunsfold Collection is registered as a charitable company limited by guarantee and was set up by a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the
terms of the Trust deed.
Page 3

DUNSFOLD COLLECTION
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
Plans for future periods
Th Coldrid
ollection B
uest
Although occurring in the 2024-25 financial year, it is important to note that in September 2024 the Collection
was advised that it is to be the beneficiary of a very important bequest from the late Michael Thorne. Mike was
the founder of The Coldridge Collection of Ferguson tractors in Devon, and he and the founder of The Dunsfold
Collection, Brian Bashall. were good friends for many years. The Probate prO￿sS is ongoing and will probably
be complete during the 2024-25 financial year. and the trustees a￿ actively planning for it with the intention of
preserving Mike's name and achievements for future generations within the constraints of the restricted site at
Dunsfold.
statement of Trustees. responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for
preparing the Trustees. report and the finanaal ststements in accordance with applicable law and United
Kingdom Accounting Standards (United Ktngd(Yn Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company
law, the Tnjstees must not approve the financial statements unless they are satisfied that they give a true and
fair view of the state of affairs of the Charity and of its incoming resources and application of resources,
including its income and expenditu￿. for that perioj. In preparing these financial statements, the Trustees are
required to:
select suitable accounting policies and then apply them consistently",
observe the meth¢xJs and principles of the Charities SORP (FRS 102):
make judgments and a￿UntIng estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any
material departures disclosed and explained in the financial statements-,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accountirKJ records that are sufficient to show and explain
the Charity's transactions and disclose Yiith reasonable accuracy at any time the financial position of the Charity
and enable them to ensure that the financial statements comply V4ith the Companies Act 2006. They are also
responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
A Mund
Trustee
Date..
25 4r1 2625
Page 4

DUNSFOLD COLLECTION
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 JULY 2024
Independent examinerfs report to the Trustees of Dunsfold Collection ('the Charity.)
I rewrt to the charity Trustees on my examination of ￿￿untS of the Charity for the year ended 31 July
2024.
Responsibilities and basis of report
As the Trustees of the Charity (and its directors for the purposes of ajmpany law) you are responsble for the
preparation of the accounts in a¢¢ordance wth the requirements of the Companies Act 2006 {'the 20C6 Act,).
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the
20Ce Act and are eligible for independent examination, I report in respect of my examination of the Charity's
accounts carried out under section 145 of the Charities Act 2011 ('the 2011 ACV). In carrying out my
examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the
2011 Act.
Independent examinerfs statement
I have completed my examination. I confimi that no matters have come to my attention in connection with the
examination giving me cause to believe".
accounting records were not kept in respect of Ihe Charity as required by section 386 of the 2006 Act., or
the accounts do not accord with those records; or
the accounts do not comply with the accounting reqU1￿ments of section 3￿ of the 2006 Act other than
any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of
an independent examination", or
the accounts have not been prepared in accordan￿ with the methods and principles of the Statement of
Recommended Practice for a¢¢ounting and reporting by charities [applicable to charities preparing their
accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of
Ireland {FRS 102)]
I have no concems and have come across no other matters in connection with the examination to which
attention should be drawn in this reFK)rt in order to enable a proper understanding of the accounts to be
reached.
This report is made solely to the Charity's Trustees, as a LM)dy. in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's
Trustees those matters l am required to state to them in an Independent examinerfs report and for no other
purpose. To the fullest extent pemiitted by law, I do not a￿p1 or assume respon￿bIlIty to anyone other than
the Charity and the Charity's Trustees as a body. for my work or for this report.
Signed.
Giles Kerkham
(c
Dated.. IS f44> "i
FCA DCh4
Larking Gowen LLP
Chartered Accountants
Norwich
Page 5

DUNSFOLD COLLECTION
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 JULY 2024
As restated
Total
funds
2023
Unrestricted
funds
2024
Total
funds
2024
Note
Income from:
Donations and legacies
Charitable activities
Other trading activities
Other income
45,383
17,416
6,349
596
45,383
17.416
6,349
596
22,288
24
Total income
69,744
69.744
22,312
Expenditure on:
Charitable activities
75.348
75,348
14,322
Total expenditure
75,348
75.348
14,322
Net movement in funds
{5,604)
{5,604)
7, 990
Reconciliation of funds:
Total funds brought fowdrd
Net movement in funds
671,616
(5,604)
671,616
(5,604)
663, 626
7.990
Total funds carried forward
666,012
666,012
671,616
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 22 fomi part of these financial statements.
Page 6

DUNSFOLD COLLECTION
(A company limited by guarantee)
REGISTERED NUMBER: 08896426
BALANCE SHEET
AS AT 31 JULY 2024
As restated
2023
2024
Note
Flxed assets
Tangible assets
Heritage assets
Investments
10
794
582,500
1, 058
582, 500
12
$83,295
583, 559
Current assets
Debtors
Cash at bank and in hand
13
49,551
37.058
81.694
10,334
92,028
Creditors: amounts falling due wilhin one
year
14
13,892
(3,971)
Net current assets
82.717
88,057
Total net assets
666,012
671,616
Charlty funds
Unreslricted funds
16
666,012
671,616
Total funds
666.012
671,616
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the (x*npany to obtain an audit for the year in question in accordance with
section 476 of Companies Act 20C6.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act wilh respect to
accounting records and preparation of financial statements. The finanaal statements have been prepared in
accordance with the provisions aP￿iCable to entities suty.ect to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
A Munden
Trustee
Date..
25 Afvl 2025
Page 7

DUNSFOLD COLLECTION
(A company limited by guarantee)
REGISTERED NUMBER: 08896426
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024
The notes on pages 9 to 22 fonn part of these financial statements.
Page 8

DUNSFOLD COLLECTION
(A company limited by guardntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
General inforniation
Dunsfold Collection is a private company limited by guarantee incorporated in England and Wales. The
registered office is The Dunsfold Collection, Alfold Road. Dunsfold. Surrey, GU8 4NP.
Accounting pollcies
2.1 Basis of preparation of financial statements
The financial ststements have b￿n prepared in accordan￿ with the Charities SORP {FRS 102) -
Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to charities
preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019). the Financial Reporting Standard
applicable in the UK aThJ Republic of Ireland (FRS 102) and the Companies Act 2006.
Dunsfold Collection meets the definition of a public benefit entity under FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a
Statement of Cash Flows.
The financial statements are prepared in sterling. which is the functional currency of the charity.
Monetary amounts in these finanaal statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, except for certain
Heritage assets which are carried at valuation. The principal accounting policies adopted are set out
below.
2.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that
the charity has adequate reSoUr￿S to continue in operational existence for the foreseeable future.
Thus the trustees o)ntinue to adopt the going concem basis of accounting in preparing the financial
statements.
2.3 Income
All income is recognised On￿ the Charity has entitlement to the income, it is probable thal the
income will be received and the amount of inrx)me receivable can be measured reliably. This
applies to donations income. which is largely Wall of Fame donations from individuals and
businesses. Other incorne recognised as above is membership income (subscriptions), and museum
entry income.
The recognition of income from legaaes is dependent on establishing entitlement, the probability of
re￿Ipt and the ability to estimate sufficient accuracy the amount receivable. Evidence of
entitlement to a legacy exists vthen the Charity has sufficient evidence that a gift has been left to
them (through kn￿edge of the existence of a valid will and the death of the benefactor) and the
executor is satisfied that the propety in question wll not be required to satisfy claims in the estate.
Receipt of a legacy must be recognised when it is probable that it will be received and the fair value
of the amount receivable, which will generally be the expected cash amount to be distributed to the
Charity. can be reliably Measured.
Other income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the *[vi￿.
Page 9

DUNSFOLD COLLECTION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Accounting policies (continued)
2.4 Expendfture
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party. it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably.
Expenditure is made up of the total of direct costs and support costs involved in undertaking the
charitable activities.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
All expenditure is indusive of irrecoverable VAT.
2.5 Tanglble fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model.
tangible fixed assets are measured at cost less accumulated depreciation and any accumulated
impaimient losses. All costs incurred to bring a tangible fixed asset into its intended working
condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives,
Depreciation is provided on the following basis:
25% reducing balance
250kn reducing balance
33% on cost
Plant and machinery
Fixtures and f ittings
Computer equipment
Gains and losses on disposals are detemiined by comparing the proceeds with the carrying amount
and are recognised in the Statement of financial activities.
Page 10

DUNSFOLD COLLECTION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Accounting policies (Continued)
2.6 Heritage assets
The museum's collection of motor vehides is reported in the balance sheet based on the Trustees
valuation of individual vehicles. This is considered to be an appropriate method of valuation on the
basis that the trustees are best placed to review the value of these assets each year.
Other non-vehicle heritage assets indude model Land Rovers and historical documentation. These
are reported at cost.
Cost includes the purchase price plus any assochgted costs in bringing the exhibit to the museum.
Depreciation is not provided as estimates of residual value indicate that any depreciation charged
would be immaterial to the financial statements.
Donated assets are included in the financial statements at a deemed cost of the estimated market
value at the date of donation_
Subject to approval of the Trustees. the museum may dispose of items from the collection, although
this will only happen in exceptional circumStan￿s, for example when the disposal proceeds are
needed to help fund the charity.
The mu*um includes in its collection items loaned to them by third parties. These items are not
included in the balance sheet since they are not ovmed by the museum.
2.7 Investments
Investments in subsidiaries are valued at cost less provision for impaiment. The subsidiary is
controlled by the charity.
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade disLount offered.
Prepayments are valued al the amount prepaid net of any trade discounts due.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-temi highly liquid investments wth a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
Page11

DUNSFOLD COLLECTION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Accounting policies (continued)
2.10 Llabilities and provisions
Liabilities are recognised when there is an obligation at the Balan￿ sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement c2n be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or
the amount it has received as adVan￿d payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation.
Where the effect of the time value of money is material, the provision is based on the present value
of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the
liability. The unwnding of the discount is recognised in the Ststement of financial activities as a
finan￿ cost.
2.11 Financial instruments
The Charity only has financial assets and finanaal liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value with the ex￿ptIOn of bank loans which are
subsequently measured at amortised cost using the effective interest method.
2.12 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general obJ"ects"ves of the Charity and which have not been designated for other
purposes.
Income from donations and legacies
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Donations
Legacies
Subscriptions
40,886
40,886
12,343
3,685
6,260
4,497
4.497
45,383
45,383
22,288
Total 2023
22,288
22,288
Page 12

DUNSFOLD COLLECTION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Income from charitable activities
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Museum Entry
17,416
17,416
Income from other trading actlvlties
Income from non charitable trading activities
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Merchandise Sales
6,349
6,349
Other incoming resources
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Other income
596
596
24
Total 2023
24
24
Page 13

DUNSFOLD COLLECTION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Anatysis of expenditure by activities
Activities
undertaken
directty
2024
Support
costs
2024
Total
funds
2024
Total
funds
2023
Charitable activities
70,648
4,700
75,348
14,322
Total 2023
11,778
2, 544
14,322
Analysis of dire¢t costs
Totsl
funds
2024
Total
funds
2023
Activities
2024
Depreciation
Telephone
Printing and postage
Membership costs
Photography
Waste
Sundry expenditure
Insurance
Bank charges
Utilities
Motor expenses
Food and refreshments
Website costs
Rates
Other charitable expenditure
Security
Rent costs {note 17)
264
264
353
938
624
5,089
624
5,089
860
3,870
1,809
67
1,063
1.809
67
1,063
66
3,876
1,988
3,528
43
714
1.820
227
92
60
3,876
1,988
3,528
43
714
1,820
227
1,894
1,571
48.610
48,610
70,648
70,648
11,778
Total 2023
11,778
11,778
Page 14

DUNSFOLD COLLECTION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Analysis of expenditure by activities (continued)
Analysis of support costs
Total
funds
2024
Total
funds
2023
Activlties
2024
Professional fees
4.700
4,700
2,544
Total 2023
2,544
2, 544
Independent examinerfs remuneration
2024
2023
Fees payable to the Charity's independent examiner for the inde￿ndent
examination of the Charity's annud accounts
2, 544
Trustees. remuneration and expenses
During the year, no Trustees re￿iVed any remuneration or other benefits (2023 - £NIL).
During the year ended 31 July 2024, no Trustee expenses have been incurred (2023 - £NIL).
10. Tangible fixed assets
Plant and Fixtures and
machinery
fittings
Computer
equipment
Total
Cost or valuation
At 1 August 2023
S,727
807
11.877
At 31 July 2024
5,727
807
11.877
Page 15

DUNSFOLD COLLECTION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
10. Tangible fixed assets (continued)
Plant and Fixtures and
machinery
rrttings
Computer
equipment
Totsl
Depreclation
At 1 August 2023
Charge for the year
4.942
100
5,070
164
807
10,819
264
At 31 July 2024
5.042
5,234
807
11.083
Net book value
At 31 July 2024
301
493
794
At 31 July 2023
401
657
1.058
Page 16

DUNSFOLD COLLECTION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
11.
Heritage assets
Heritage
Assets -
Non-
vehicles
2024
Heritage
Assets -
Vehicles
2024
At 1 August 2023 (as restated)
35,000
547,500
At 31 July 2024
35,000
547,500
Heritage assets include approximately 40 Land Rover vehicles wth a value of £547,500, and in non-
vehicle heriage assets, a model Land Rover collection wth a book value of £25.000 and a historical
documentation archive Trmth a LMx)k value of £10.000. These models and documentation are held on the
balance sheet on a cost basis.
The majority of the above heritage assets arose from aquisition by donation The value of the vehicles
held has been reassessed by the Trustees under the valuation model rather than cost. and has been
applied restrospectively. Had these been carried under the historic cost model, the vehicle assets would
have been held on the balants sheet at £183,080.
Heritage Assets do not include approximately 102 vehides which are loaned to the collection, 45 by Mr
Bashall (trustee) and 57 from other sources.
Anatysls of heritage asset transactions
2024
2023
2022
2021
2020
Donations
Heritage asset- vehides al
valuation
8,000
8,000
Total additions
8.000
8.000
Page 17

DUNSFOLD COLLECTION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
12.
Fixed asset investments
Investments
in
subsidiary
companles
Cost or valuation
At 1 August 2023
At 31 July 2024
Net book value
At 31 July 2024
At 31 July 2023
Principal subsidiaries
The followng was a subsidiary undertaking of the Charity:
Registered office or principal Principal activity
place of business
Name
Company
number
Dunsfold Collection Trading
Limited
08898867
The Dunsfold Collection, Alfold Sale of merchandise
Road. Dunsfold. Surrey, GU8
4NP
Class of
shares
Holdlng
Ordinary
1000
The financial results of the subsidiary for the year were:
Name
Income
Expenditure
ProfiU(Loss Net assetsl
)1 Surplusl
(liabilities)
(Deficit) for
the year
Dunsfold Collection Trading Limited
53.634
(31.364)
22,270
(15,489)
Page 18

DUNSFOLD COLLECTION
(A company limited by guaranteo)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
13.
Debtor5
2024
2023
Due within one year
Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income
4,336
77,358
44,231
5.320
49,551
81,694
Page 19

DUNSFOLD COLLECTION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
14.
Creditors: Amounts falling due within one year
2024
2023
Trade creditors
Accruals and deferred income
231
3,661
1,571
2,400
3,892
3,971
15.
Prior year adjustments
The value of the vehides held has been ￿asSessed by the Trustees under the valuation model rather
than cost, as this is more apFfopriate. and this adjustrnent has been applied restrospectively.
Heritage asset vehicles held on the balan￿ sheet have been adjusted in the prior period by £364,420
from £183,080 cost to £547.500 valuation. This has in turn increased prior year funds from £307.196 to
£671.616.
16.
Statement of funds
ststement of funds - current year
As restated
Balance at 1
August
2023
Balance at
Income Expenditure 31 July 2024
Unr8Stricted funds
General Funds
671,616
69.744
175.348)
666,012
Statement of fvnds - prioryear
Balance at
l August
2022
Balance at
Income Expenditu￿ 31 July 2023
Unrestricted funds
General Funds
663.626
22,312
(14,322)
671.616
Page 20

DUNSFOLD COLLECTION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMEiirs
FOR THE YEAR ENDED 31 JULY 2024
17. Analysis of net assets between funds
Analysis of net assets between funds - current period
Unrestricted
funds
2024
Total
funds
2024
Tangible fixed assets
Fixed asset investments
Heritage assets
Current assets
Creditors due vlithin one year
794
794
582,500
86,609
(3,892)
582,500
86,609
(3,892)
Total
666.012
666,012
Analysis of net assets between funds- prior period
Unrestricted
funds
2023
Total
funds
2023
Tangible fixed assets
Fixed asset investments
Heritage assets
Current assets
Creditors due within one year
1,058
1,058
582,500
92,028
(3,971)
582, 500
92, 028
(3,971)
671,616
Total
671,616
18.
Related party transactions
During the year to 31 July 2024. charges ￿Ere made from Dunsfold Collection Trading (subsidiary) to
Dunsfold Collection (parent) to re-charge in year and retrospective rental payments paid by the
subsidiary on behalf of the parent. These re-charges totalled £51,150. Recharges of £3,250 were made
from Dunsfold Collection to Dunsfold Collection Trading. reflecting Insuran￿ and merchandise costs
paid by the parent. At the year end. £44,231 (2023. £77.358) was owing from the subsidiary to the
parent (note 13)
Mr Bashall, a trustee, loans approximately 45 vehides to the Collection for display, and these are not
recognised wthin heritage assets. Mr Bashall also leases out the museum on a peppercom rent to the
Collection.
Page 21

DUNSFOLD COLLECTION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
19.
Post balance sheet events
In September 2024, the Collection were notified of a significant bequest to the charity. With probate
ongoing. this has not been adjusted for in these financial statements, and be recognised in the year
to Juty 2025. s￿ the trustees report for more detail.
Page 22