Registered number: 08896426 Charity number: 1156848 DUNSFOLD COLLECTION (A Company Limited by Guaranteé) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 DUNSFOLD COLLECTION (A Company Limited by Guarantee CONTENTS Page Reference and Administrative Detsils of the Charity, its Trustees and Advisers Trustees, Report Independent Examlner's Report statement of Flnanclal Actlvities Balance Sheet Note8 to the Flnanclal Statements 10-23 DUNSFOLD COLLECTION IA Company Llmited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2025 Trustees P Bashall R Beddall A Munden G Pusey Company registered number 08896426 Charlty reglstered number 1156848 Reglstered offlce The Dunsfold Collection Alfold Road Diin8fold Surrey GU8 4NP Accountants Larking Gowen LLP Chartered Accountants 1 st Floor, Prospect House Rouen Road Norwich NR1 1RE Page 1 DUNSFOLD COLLECTION IA Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2025 The Trustees present their annual report together with the financial statements of the Charity for the 1 August 2024 to 31 July 2025. The Annual Report setves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice ISORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 20191. Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 {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 documents related to the Land Rover company. The museum's unique collection is made available to the wider public by displays at motoring events and items may be loaned to such charitable institutions as the trustees may select. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a charity (PB21'. b. Strategles for achieving objectives Since the museum building opened in 2023, the trustees, strategy has been to mount a number of public open days each year, with the Collection vehicles being rotated between the museum and storage locations, to ensure a different presentation at each. The museum also promotes visits by private individuals and vehicle clubs, with the vehicles on display drawn from the Collection to reflect the specific interests of those groups. The museum building continues to be used as a space in which to host talks given by specialists in Land Rover history and events. Work continues in setting up the archive and it continues to expand as a result of the donation of additional material during the year. c. Activities undertaken to achieve objectives Since August 2024, the Trustees have continued to develop the museum offering wth the successful formula of public open days, private visits by special 1st groups and individuals and the popular specialist talks within the museum environment. These visits have been developed to include affiliate events, partnering with Land Rover social media groups that have used the museum as location for their gatherings. Although the number of Land Rover motoring events has declined since COVID, the Collection continues to exhibit its vehicles at shows where it is commercially practical to do so. Page 2 DUNSFOLD COLLECTION (A Company Limited by Guarantee} TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 Achievements and performance a. Main achlevements of the Charity sin￿ August 2024 there have been 2 very successful public open days. Private tours have continued to increase during the year with a total of 16 taking place with group sizes ranging from 3 to 50 and coming from as far afield as Ecuador and Australia such is the historical importance of the Collection and its vehicles. The afternoon and evening talks have proved to be a successful addition to the programme with 3 taking place and during the year the Collection displayed vehicles at a major national Land Rover show. 2024125 saw for the first time, two very successful affiliate events mounted in conjunction wth ￿ of the largest social media Land Rover groups. b. The Collectlon During 2024125 the Collection was able to dispose of vehicles that had been specifically donated to raise money for the charity as detailed in the accounts, The year saw 6 significant donations or loans enhance the Collection,. British Airways donated the last Land Rover Defender lo be employed by the engineering team at Ga￿l¢k Airport,. the National Brewery Heritage Trust in Burton-on-Trent selected the Collection to be the recipient of two donated Land Rover fire appliances and trailer pumps. In late 2024 the Collection was delighted to accept a long-term loan of the trophies, documents, photographs and artefacts relating to the legendary Camel Trophy event. These have proved a very popular addition to the museum displays. c. The Coldridge Collection Bequest 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. At the time of signing the financial statements, the Charity had accepted receipt of a number of assets from the Coldridge Collection, including tractors, associated implements and railway I transport related paraphernalia. The Trustees are considering the best use of these items for long term investment in the Charity. Trustees will make their decisions after giving consideration of the best interests of the Charity, ensuring public benefit, and allowing the Charity to secure the future of the museum. These assets have been valued at £340,779 and are included within stock and endowment funds as at 31 July 2025. In addition, the bequest includes land and buildings which are still in probate. The late Michael Thorne's executor has not given the trustees any indication as to how long the probate process may take to be resolved and the valuation is uncertain. Therefore, these assets have not been included in the financial statements at this time. Financial review a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Page 3 DUNSFOLD COLLECTION (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 b. Reserves policy Unrestricted funds at 31 July 2025 were £679,810 (2024.. £666,012). Endowment funds at 31 July 2025 were £340,77912024.. £Nill. 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 will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. The trustees have no concerns over the level of reserves. Net current assets at 31 July 2025 were £422,249 (2024.. £82,717), and includes stock of £340,77912024'. £Nil), cash at bank and in hand of £15,090 (2024.. £37,058) and amounts receivable from the trading subsidiary of £55,656 {2024.' £44,231) backed by cash in the subsidiary company of £49,379 (2024.. £40,095}. The trustees are of the opinion that the finariLial perlormance of the charity iind its Irddiiig subsidiary have Lonti iiued in liiie with their expectation and will allow them to fulfil the aims and objects of the charity No adverse effects have occurred between the financial period end and the signing of the trustees report that effect this financial position. Structure, governance and management a. Constltutlon Dunsfold Collection is registered as a charitable company limited by guarantee and was set up by a Trust deed. b. Methods of appolntment 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 4 DUNSFOLD COLLECTION (A Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 Statement of Trustees, responsibilities The Trustees (who are also the directors of the Charity for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees 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 expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 102)., make judgments and accounting 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 accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy al any time the financial position of the Charity and enable them to ensure that the financial statements comply with 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 f raud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. AMU Trustee Date.. en 23 4 ,1202G Page 5 DUNSFOLD COLLECTION (A Company Limited by Guarantee INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2026 Independent Examiner's Report to the Trustees of Dunsfold Collection {'the Charity,) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 July 2025. Responsibilities and Basis of Report As the Trustees of the Charity land its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance wth the requirements of the Companies Act 2006 {'the 2006 Act'i. Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 I'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Gommission under section 145lb)(b) of the 2011 Act. Independent Examine￿8 Statement I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the 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 wth Ihe 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 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for a¢counting and reporting by charities lapplicable to charities prepari ng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}1. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the Charity's Trustees, as a body, 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 Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. Dated.. IL¥ IIp-1 3c>l FCA DChA Giles Kerkham Larking Gowen LLP Chartered Accountants Nowich Page 6 DUNSFOLD COLLECTION (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 JULY 2025 Unrestricted Endowment funds funds 2025 2025 Total funds 2025 Total funds 2024 Note Income and endowments from: Donations and legacies Charitable activities Other trading activities Other income 42,031 20,104 4,383 1,138 340,779 382,810 20,104 4,383 1,138 45,383 17,416 6,349 596 Total incom8 and endowments 67,656 340,779 408,435 69, 744 Expendlture on: Charitable activities 53,858 53,858 75,348 Total expenditure 53,858 53,858 75,348 Net movement in funds 13,798 340,779 354,577 (5, 604) Reconciliation of funds: Total funds brought forward Net movement in funds 666,012 13,798 666,012 354,577 671,616 (5, 604) 340,779 Total funds carried forward 679,810 340,779 1,020,589 666,072 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 10 to 23 form part of these financial statements, Page 7 DUNSFOLD COLLECTION (A Company Limited by Guaranteel REGISTERED NUMBER: 08896426 BALANCE SHEET AS AT 31 JULY 2025 2025 2024 Note Fixed assets Tangible assets Heritage assets Investments 11 12 13 6,839 592,500 794 582, 500 598,340 583,295 Current assets Stocks Debtors Cash at bank and in hand 14 15 340,779 72,802 15,090 49,551 37,058 428,671 86, 609 Current liabilities Creditors.. amounts falling due within one year 16 16,422) (3, 892) Net current a8set8 422,249 82,717 Total net assets 1,020,589 666,012 Charity funds Endowment funds Unrestricted funds 17 17 340,779 679,810 666,012 Total funds 1,020,589 666,012 Page 8 DUNSFOLD COLLECTION (A Company Limited by Guarantee) REGISTERED NUMBER: 08896426 BALANCE SHEET (CONTINUED) AS AT 31 JULY 2025 The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees a¢knO￿edge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject 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.. 23 1111 2026 The notes on pages 10 to 23 form part of these financial statements. Page 9 DUNSFOLD COLLECTION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 General information 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. Accountlng pollcles 2.1 Basls of preparatlon of flnancial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019), the Financial Reporting Standard applicable iii tlie U K