**Charity number: 1157742**
## **FRIENDS OF LANGHAM DOME**
**UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **FRIENDS OF LANGHAM DOME**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 7|
|**Independent examiner's report**|8|
|**Statement of financial activities**|9|
|**Balance sheet**|10|
|**Notes to the financial statements**|11 - 24|
**FRIENDS OF LANGHAM DOME**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2020**
|**Trustees**|Mr P J S Allen BEM, Chairman|
|---|---|
||Mr N B Q Back, Secretary|
||Mr E N S Allen|
||Air Commodore J Blakeley OBE (resigned 21 October 2020)|
||Mr R L Goodison MBE|
||Mr H D Labouchere|
||Mr R J Cole, Treasurer|
||Mrs S K Faire|
||Mr R O'B Davis|
||Dr A G Parker|
||Mr J M Clark (appointed 2 April 2020)|
|**Charity registered**
**number**
1157742
**Principal office**
Home Close
North Street
Langham
NR25 7DG
**Principal operating**
**office**
Langham Dome
Cockthorpe Road
Langham
Norfolk
NR25 7BR
**Accountants**
Larking Gowen LLP
Chartered Accountants
43 Bull Street
Holt
NR25 6HP||
Page 1
**FRIENDS OF LANGHAM DOME**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2020**
The Trustees present their annual report together with the financial statements of the charity for the year 1 November 2019 to 31 October 2020.
## **Objectives and activities**
## **a. Policies and objectives**
Langham Dome was originally constructed in 1942 to be one of about forty state-of-the-art Dome Teachers built across the United Kingdom and was at the forefront of Britain's anti-aircraft defence in the second World War. With its projection systems, ventilation machinery and dummy gun, the Dome was on the very cutting-edge of technology and played a key role in helping to train those protecting the country from air attack.
The principal objects of the charity are to:
- Preserve and maintain for the public benefit the Scheduled Ancient Monument known as Langham Dome at Cockthorpe Road, Langham, Norfolk.
- Advance the education of the public in the history of Langham Dome and the RAF airfield at Langham. This includes assisting with the curriculum of local schools.
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 (PB2)'.
## **b. Activities undertaken to achieve objectives**
The Dome is owned by North Norfolk Historic Buildings Trust (NNHBT) and its restoration was completed by NNHBT in 2014 at a cost of approximately £280,000. A range of educational displays have since been installed by NNHBT at a cost of over £300,000. All this expenditure has been financed by grants from the Heritage Lottery Fund (HLF) and several other organisations.
By agreement with NNHBT covering an initial period of over three years up until the end of 2017, FoLD managed the operation of the Dome, and its access to the public, on behalf of NNHBT and received grants for operational expenditure to help us build a reserve.
FoLD and NNHBT have recently negotiated a lease of the Dome to FoLD for 25 years and a transfer to FoLD of ownership of its contents. NNHBT will be responsible for maintaining the structure of the dome building, with FoLD responsible for maintaining the contents.
As a consequence of this arrangement, FoLD has become jointly and severally liable, with NNHBT, to HLF for various substantial commitments to sustain the project.
Page 2
**FRIENDS OF LANGHAM DOME**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020**
## **Objectives and activities (continued)**
## **c. Volunteers**
As a result of the pandemic, we lost the use of many of our regular volunteers who deemed themselves to be ‘vulnerable’. When we were eventually able to open at the beginning of August we had to operate with only about 10 volunteers. Fortunately we had already anticipated a problem and had employed two Coordinators who were contracted to man the Dome alongside a volunteer thus reducing our requirement for volunteers by 50%. The Trustees would like to thank those volunteers who held the fort during this difficult time and also the two Coordinators, Deborah Wilson and Lynn Jackson who were both worth their weight in gold.
In April, during lockdown, Jo Holden stepped down as the Manager and handed over to Calum Meadows. However, in July as we prepared to open to the public, with the relaxation of the lockdown, Calum announced that he was going to be unable to carry on in the role and resigned. Fortunately John Clark, who had been appointed a Trustee in April, offered to step into the role at such short notice. The Trustees are most grateful to him for doing this.
## **d. Main activities undertaken to further the charity's purposes for the public benefit**
The Dome is an exciting visitor experience for young and old alike, providing a fascinating insight into the technology underlying aircraft gunner training during WW2 and into the life of the airfield and surrounding villages at that time.
The Dome offers a host of educational opportunities for children and young people at all stages of their education and we work closely with teachers specialising in Key Stages 1-5.
There are also currently in excess of 100 Friends of the Dome, who each pay an annual subscription of £15 from the locality and far afield. We are really grateful for this support.
## **Achievements and performance**
Page 3
**FRIENDS OF LANGHAM DOME**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020**
## **Achievements and performance (continued)**
## **a. Review of activities**
Inevitably, our activities in 2020 were much restricted by the COVID-19 pandemic.
Despite the complications of sanitisation, and the fact that the volunteer force was significantly reduced by those in vulnerable age groups, we took the decision to open in August. We employed two Dome coordinators. We are immensely grateful to them and all those who participated, in the most trying of circumstances.
In a much reduced opening period, we had 1,265 visitors (compared to 3,500 in the previous year). Regrettably, we could not go ahead with fund raising activity such as open days.
But we were most grateful to receive grants of £20,000 from the Heritage Lottery Emergency Fund towards the salaries of our coordinators, PPE and cleaning as well as helping with ongoing investment. In addition we thank the North Norfolk District Council for our share, of £8,000, of a Business Support grant to NNHBT.
The highlight of the year was the erection on a plinth of the full size replica Spitfire foreshadowed in our report last year. This has been substantially all financed by grants and crowdfunding and we thank all. Early indications are that its dramatic effect on passers by is attracting more visitors.
Looking forward, in the short term, we opened again on 27th May. With the emphasis on staycations, indications are that visitor numbers in North Norfolk will be at record levels, subject of course to the evolution of the pandemic and Government policy.
In the longer term, we need to, and will, invest in enhancing the Dome as a visitor attraction. For example, this year we will have on site beverage facilities. As the Financial Review below demonstrates, while our prudent reserves policy is helping to tide us through at present, we will need to look to grants for investment and reinvestment.
Page 4
**FRIENDS OF LANGHAM DOME**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020**
## **Financial review**
## **a. Going concern**
The trustees have considered the charity's position at the time of signing the financial statements, and in particular the current issues caused by Covid-19 and its potential impact on the charity and the wider economy and society. As such under the current circumstances it is difficult to predict the impact for the remainder of the financial year and medium term. Nevertheless, the trustees have considered the current financial strength of the charity, together with the range of measures the trustees could take to mitigate ongoing costs should they need to.
Based on this, the trustees have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future, and at least twelve months from the date of signing these financial statements. They therefore continue to adopt the going concern basis of accounting in preparing these financial statements.
## **b. Reserves policy and asset ownership**
As indicated above, FoLD now owns the exhibitions in the Dome. The additions of nearly £150,000 of assets to our balance sheet gives more substance to our financial position. But the consequence of the depreciation charge of nearly £20,000 demonstrates that admission fees will need to be supplemented by grants to allow significant investment in and renewals of our displays and software if we are to sustain and enhance the attraction. (The Trustees' priority is therefore to seek essential new sources of charitable funding).
Total funds at 31 October 2020 were £307,493 (2019: £147,771). Of these £240,596 (2019: £106,683) were unrestricted and £66,897 (2019: £41,088) restricted.
At the end of 2020 financial year we had built up cash on hand of £101,266. This, as planned, should give us a reasonably comfortable cushion against the ebbs and flows of our operations not least for the duration of the pandemic.
In the present circumstances, the Trustees believe that we should hold in reserve around three years' operational cash expenditure of say £70,000. We have no wish to accumulate cash which could be used for further investment, but at present the Trustees believe that the best investment is financial prudence to ensure that our project will continue for many years to come.
## **Structure, governance and management**
## **a. Constitution**
Friends of Langham Dome is a registered charity, number 1157742, and is constituted under a Written Constitution dated 1 April 2014.
## **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 Written Constitution.
The current Trustees were selected for; their enthusiasm for the project; knowledge of aeronautical matters; financial expertise; and non-executive skills.
Page 5
**FRIENDS OF LANGHAM DOME**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020**
## **Structure, governance and management (continued)**
## **c. Organisational structure and decision-making policies**
The CIO is governed by the Trustees who meet approximately eight times a year. The Trustees during the year were:
Mr P J S Allen BEM (Chairman) Mr R J Cole (Treasurer) Mr R O'B Davis Mr N B Q Back (Secretary) Mr E N S Allen Air Commodore J Blakeley OBE Mr R L Goodison MBE Mr H D Labouchere Mrs S K Faire Dr A G Parker Mr J M Clark (appointed 2 April 2020)
The Chairman ensures that the Trustees know their obligations, regulatory and otherwise.
There is also a management committee comprised principally of a number of the volunteers who operate the opening days.
Ms Nicki Lock is employed as our part time bookkeeper. The Manager and the two Dome Coordinators are also remunerated but no other persons nor Trustees nor volunteers are remunerated.
The charity's Trustees have had due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
Page 6
FRIENDS OF LANGHAM DOME
TRUSTEES. REPORT {CONTINUEOI
FOR THE YEAR ENDED 31 OCTOBER 2020
statement of Tru$tees' rasponsibilitios
The Trustees are responsible for preparing the Tru5tees' report arKI the fin8nu81 slalemenls in accordance wilh
applicable law and United Kingdom Accounb"ng Slandards (United Kingdom Generally Accepted Accounting
Piaclicel.
The law applicable lo Charities in England & Wales requires the Trustees lo prepare financial slalemenls for
each financial year which give a true and fair view of the slate of affairs of the charity and of ils incoming
resources and application of resources, induding its income and expenditure, for that period. In preparing these
financial siatemenls, the Trustees are required to_.
select suitable accounting policies and then apply them consslently..
obseNe Ihe methiKJs and principles of the Charities SORP IFRS 102};
make judgments and accounting eslimales that are reasonable and prudent."
state whether applicable UK Accounting Standards {FRS 1021 have been followed, 5uts.ecl lo any
material departures disclosed and explained in the financial statements..
prepare the financial statements on the going concein bass unless il is inappropriate lo presume that the
charity will continue in bu51ness.
The Trustees are resptx)sible for keeping a[uale aceounting records that are sufficient lo show and explain
the charity's transactions and disclose wlh reasonable accuracy al any lime the financial position of the charity
and enable them to ensure that the financial sialements comply with the Charities Act 2011. the Charity
(Accounts and Reports} Regulations 2008 and the provisions of the Trusl deed They are also responsible for
safèguaiding the assets of the charity and hen for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Approved by order of t
members of the iK)ard of Twslee5 and signed on Iheii behalf by:
Mr P J S Allen BEM. Chairman
Trustee
Date.. l L J 2021
Page 7
## **FRIENDS OF LANGHAM DOME**
**INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2020**
## **Independent examiner's report to the Trustees of Friends of Langham Dome ('the charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 October 2020.
## **Responsibilities and basis of report**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with 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 (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 I 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: 14 July 2021 Christopher Yeates FCA DChA Larking Gowen LLP Chartered Accountants Holt
Page 8
**FRIENDS OF LANGHAM DOME**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2020**
|**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Investments
5
Assets donated from NNHBT
6
**Total income**
**Expenditure on:**
Charitable activities
7
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2020**
**£**
**8,000**
**18,712**
**82**
**145,134**
**171,928**
**38,015**
**38,015**
**133,913**
**106,683**
**133,913**
**240,596**|**Restricted**
**funds**
**2020**
**£**
**35,980**
**-**
**-**
**-**
**35,980**
**10,171**
**10,171**
**25,809**
**41,088**
**25,809**
**66,897**|**Total**
**funds**
**2020**
**£**
**43,980**
**18,712**
**82**
**145,134**
**207,908**
**48,186**
**48,186**
**159,722**
**147,771**
**159,722**
**307,493**|_Total_
_funds_
_2019_
_£_
_25,127_
_33,385_
_-_
_-_|
|---|---|---|---|---|
|||||_58,512_|
|||||_26,634_|
|||||_26,634_|
|||||_31,878_|
|||||_115,893_
_31,878_|
|||||_147,771_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 11 to 24 form part of these financial statements.
Page 9
FRIENDS OF LANGHAM DOME
BALANCE SHEEr
FOR THE YEAR ENDED 31 OCTOBER 2020
2020
2019
Noto
Fixed a5set8
Intangible assets
Tangible assets
Heritage assets
10
6.318
128.776
68.805
12
24.015
203,899
24,015
Current assgls
Stocks
13
14
1.085
5.413
101.266
420
2.515
122,568
Debtors
Cash al bank and in hand
107.764
125,503
Cfedilors: amounts falling due within one
year
15
{4.170)
{1,747J
Not Current assets
103.594
123, 756
Total assets less Current liabilities
307.493
14T. 771
Total nèt as$ots
307,493
147, 771
Charity funds
Restricted funds..
Reslricled funds- Spittire
Other restricted funds
16
57.068
9.829
41,088
16
Restricted funds
Unrestricted funds
16
66,897
240.596
41,088
106, 683
16
Total funds
307.493
141, 771
The financial statements were approved and authorised for issue by the Truslees and signed on their behalf by..
Mr P J S Allon BEM. Chairman
Mr R Cole, Trgasurer
Date. 12 2021
The note5 on pages 11 to 24 fom part of Ihese financial statements.
Page 10
**FRIENDS OF LANGHAM DOME**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **1. General information**
Friends of Langham Dome is a registered charity (no 1157742) registered in England and Wales. The members on the charity include the Trustees named on page 1.
The financial statements are presented in sterling which is the functional currency of the charity to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are sent out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Friends of Langham Dome meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
The trustees have considered the charity's position at the time of signing the financial statements, including the current financial strength of the charity, together with the range of measures the trustees could take to mitigate ongoing costs should they need to.
Based on this, the trustees have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future, and at least twelve months from the date of signing these financial statements, they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.
Page 11
**FRIENDS OF LANGHAM DOME**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **2. Accounting policies (continued)**
## **2.3 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the charity's accounting policies.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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 service.
## **2.4 Expenditure**
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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
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 inclusive of irrecoverable VAT.
Page 12
**FRIENDS OF LANGHAM DOME**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **2. Accounting policies (continued)**
## **2.5 Intangible assets and amortisation**
Intangible 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.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
The estimated useful lives are as follows:
Amortisation is provided on the following basis:
Film licence - 20 %
## **2.6 Tangible fixed assets and depreciation**
As the Dome is owned by NNHBT, neither it nor its depreciation are reflected in these financial statements.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
- Plant and machinery 10 years straight line - Fixtures and fittings 10 to 25 years straight line Other fixed assets - 15 years straight line
Page 13
**FRIENDS OF LANGHAM DOME**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **2. Accounting policies (continued)**
## **2.7 Heritage assets**
Where heritage assets have been purchased, they are initially recognised at cost. After recognition, under the cost model, heritage assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.
The heritage asset is a replica Spitfire. Langham Dome is open to the general public and the replica Spitfire is displayed as part of the Langham Dome experience and visitor attraction. Heritage assets are carried at cost which in the case of the replica Spitfire is the valuation attributed to the asset by the Trustees on the date when the Spitfire was donated together with any associated costs incurred by the charity installing it. It is believed the replica Spitfire has a useful economic life of 25 years over which it is depreciated.
The annual depreciation for tangible assets is sensitive to changes in the estimated useful economic lives and residual value of assets. The useful economic lives and residual values and reassessed annually.
Depreciation is provided on the following basis:
- Heritage assets 25 years straight line
During the year, FoLD and NNHBT negotiated a lease of the building and a transfer of the fixtures and fittings to FoLD. The lease is for 25 years with a peppercorn rent. The donated assets have been recognised at fair value at the point of transfer, see note 6. No income or expenditure is recognised for the rent free occupation because the trustees do not consider that a reliable measure of the amount the charity would have to pay to secure the site can be made.
## **2.8 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **2.9 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.10 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 14
**FRIENDS OF LANGHAM DOME**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **2. Accounting policies (continued)**
## **2.11 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance 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 can 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 advanced 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 unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## **2.12 Financial instruments**
The charity only has financial assets and financial 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 exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.13 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 15
## **FRIENDS OF LANGHAM DOME**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **3. Income from donations and grants**
|**Unrestricted**
**funds**
**2020**
**£**
Donations
-
Grants
8,000
8,000
Donations
**4.**
**Income from charitable activities**
Langham Dome
Langham Dome|**Restricted**
**funds**
**2020**
**Other**
**restricted**
**funds**
**2020**
**£**
**£**
10,980
-
5,000
20,000
15,980
20,000
_Restricted_
_funds_
_2019_
_Restricted_
_funds - class_
_ii_
_2019_
_£_
_£_
_25,127_
_-_
**Unrestricted**
**funds**
**2020**
**£**
18,712
_Unrestricted_
_funds_
_2019_
_£_
_33,385_|**Total**
**funds**
**2020**
**£**
**10,980**
**33,000**|
|---|---|---|
|||**43,980**|
|||_Total_
_funds_
_2019_
_£_
_25,127_|
|||**Total**
**funds**
**2020**
**£**
**18,712**|
|||_Total_
_funds_
_2019_
_£_
_33,385_|
Page 16
**FRIENDS OF LANGHAM DOME**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **. Income from charitable activities consists of:**
|Dome admission charges
Membership subscriptions
Sales of merchandise
General donations (including Group visits)
Dome day
Gift Aid
Fundraising - raffle
Talks
**Total**|**2020**
**£**
**7,012**
**1,644**
**1,403**
**3,508**
**-**
**2,568**
**2,577**
**-**
**18,712**|_2019_
_£_
_16,911_
_1,583_
_1,344_
_2,365_
_5,526_
_4,886_
_-_
_770_|
|---|---|---|
|||_33,385_|
## **5. Investment income**
|**Unrestricted**
**funds**
**2020**
**£**
Investment income - bank interest
82
**Other incoming resources**
**Unrestricted**
**funds**
**2020**
**£**
Assets donated from NNHBT
145,134|**Total**
**funds**
**2020**
**£**
**82**
**Total**
**funds**
**2020**
**£**
**145,134**|_Total_
_funds_
_2019_
_£_
_-_|
|---|---|---|
|||_Total_
_funds_
_2019_
_£_
_-_|
## **6. Other incoming resources**
During the year, FoLD entered into a lease with NNHBT for the Dome site. Under the lease certain fixtures and fittings transferred to FoLD for £nil consideration. The donated assets are recognised in the accounts at an estimate of their fair value at the date of transfer, being £145,134.
Page 17
**FRIENDS OF LANGHAM DOME**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **7. Analysis of expenditure on charitable activities**
## **Costs by fund type**
|**Unrestricted**
**funds**
**2020**
**£**
Development manager fees
3,706
Sundry expenses
190
Services (electricity, insurance, web hosting)
4,528
Cost of merchandise
212
Marketing
3,931
Raffle expenses
102
Accountancy fees
1,134
Repairs
1,717
Bookkeeping fees
2,546
Dome co-ordinator fees
-
Depreciation & amortisation
19,949
38,015
_Unrestricted_
_funds_
_2019_
_£_
Development manager fees
_5,514_
Sundry expenses
_679_
Services (electricity, insurance, web hosting)
_4,494_
Cost of merchandise
_853_
Marketing
_4,221_
Accountancy fees
_1,160_
Repairs
_656_
Bookkeeping fees
_2,445_
Support staff/volunteer costs
_1,103_
Dome day costs
_3,606_
_24,731_|**Restricted**
**funds**
**2020**
**£**
-
-
2,788
-
-
-
-
1,262
-
5,080
1,041
10,171
_Restricted_
_funds_
_2019_
_£_
_1,378_
_-_
_56_
_-_
_469_
_-_
_-_
_-_
_-_
_-_
_1,903_|**Total**
**funds**
**2020**
**£**
**3,706**
**190**
**7,316**
**212**
**3,931**
**102**
**1,134**
**2,979**
**2,546**
**5,080**
**20,990**|
|---|---|---|
|||**48,186**|
|||_Total_
_funds_
_2019_
_£_
_6,892_
_679_
_4,550_
_853_
_4,690_
_1,160_
_656_
_2,445_
_1,103_
_3,606_|
|||_26,634_|
Page 18
**FRIENDS OF LANGHAM DOME**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **8. Independent examiner's remuneration**
||**2020**|_2019_|
|---|---|---|
||**£**|_£_|
|Fees payable to the charity's independent examiner for the independent|||
|examination of the charity's annual accounts|**1,154**|_1,250_|
## **9. Trustees' remuneration and expenses**
During the year, one Trustee, J M Clark, received remuneration of £1,883 (2019 NIL).
During the year ended 31 October 2020, no Trustee expenses have been incurred _(2019 - £NIL)_ .
## **10. Intangible assets**
|**Cost**
Additions
At 31 October 2020
**Amortisation**
Charge for the year
At 31 October 2020
**Net book value**
At 31 October 2020
_At 31 October 2019_|**Film licence**
**£**
**9,985**|
|---|---|
||**9,985**|
||**3,667**|
||**3,667**|
||**6,318**|
||_-_|
Page 19
**FRIENDS OF LANGHAM DOME**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **11. Tangible fixed assets**
|**Cost or valuation**
Additions
At 31 October 2020
**Depreciation**
Charge for the year
At 31 October 2020
**Net book value**
At 31 October 2020
_At 31 October 2019_|**Plant and**
**machinery**
**£**
**41,690**
**41,690**
**8,338**
**8,338**
**33,352**
_-_|**Fixtures and**
**fittings**
**£**
**99,609**
**99,609**
**8,505**
**8,505**
**91,104**
_-_|**Other fixed**
**assets**
**£**
**4,800**
**4,800**
**480**
**480**
**4,320**
_-_|**Total**
**£**
**146,099**|
|---|---|---|---|---|
|||||**146,099**|
|||||**17,323**|
|||||**17,323**|
|||||**128,776**|
|||||_-_|
Page 20
**FRIENDS OF LANGHAM DOME**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **12. Charity heritage assets**
## **Assets recognised at cost**
|Carrying value at 1 November 2019
Additions
**Net book value at**
**31 October 2020**|**Heritage**
**asset -**
**replica**
**Spitfire**
**2020**
**£**
24,015
44,790
68,805|**Total**
**2020**
**£**
**24,015**
**44,790**|
|---|---|---|
|||**68,805**|
The heritage asset is a replica Spitfire. This is recognised at valuation at the date it was donated together with installation and restoration costs incurred by the charity. Further details can be seen in accounting policy 2.7 No depreciation was charged for the period due to ongoing restoration costs regarding the Spitfire. Depreciation will be charged again in the next year's accounts.
## **13. Stocks**
||**2020**|_2019_|
|---|---|---|
||**£**|_£_|
|Goods for resale|**1,085**|_420_|
## **14. Debtors**
|**Due within one year**
Prepayments and accrued income|**2020**
**£**
**5,413**
**5,413**|_2019_
_£_
_2,515_|
|---|---|---|
||||
|||_2,515_|
## **15. Creditors: Amounts falling due within one year**
||**2020**|_2019_|
|---|---|---|
||**£**|_£_|
|Accruals and deferred income|**4,170**|_1,747_|
Page 21
**FRIENDS OF LANGHAM DOME**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **16. Statement of funds**
|**Statement of funds**||||
|---|---|---|---|
|**Statement of funds - current year**
**Balance at 1**
**November**
**2019**
**£**
**Unrestricted funds**
**Designated funds**
Designated funds
**25,000**
**General funds**
General Funds
**81,683**
**Total Unrestricted funds**
**106,683**
**Restricted funds**
Restricted Funds - Replica
Spitfire
**41,088**
**Other restricted funds**
Other restricted funds
**-**
**Total Restricted funds**
**41,088**
**Total of funds**
**147,771**|**Income**
**£**
**Expenditure**
**£**
**-**
**-**
**171,928**
**(38,015)**
**171,928**
**(38,015)**
**15,980**
**-**
**20,000**
**(10,171)**
**35,980**
**(10,171)**
**207,908**
**(48,186)**|**Transfers**
**in/out**
**£**
**(25,000)**
**25,000**
**-**
**-**
**-**
**-**
**-**|**Balance at**
**31 October**
**2020**
**£**
**-**|
||||**240,596**|
||||**240,596**|
||||**57,068**|
||||**9,829**|
||||**66,897**|
||||**307,493**|
## **Designated funds:**
A designated fund was established by the Trustees for the refurbishment of equipment and educational display under obligation to NNHBT. This is no longer required given that FoLD now owns the assets.
## **Restricted funds:**
These represent the income and expenses in relation to funds relating to the donation and installation of a replica Spitfire.
Page 22
**FRIENDS OF LANGHAM DOME**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **16. Statement of funds (continued)**
|**Statement of funds - prior year**
_Balance at_
_1 November_
_2018_
_£_
**Unrestricted funds**
**Designated funds**
Designated Funds
_25,000_
**General funds**
General Funds
_73,029_
**Total Unrestricted funds**
98,029
**Restricted funds**
Restricted Funds - Replica Spitfire
_17,864_
**Total of funds**
_115,893_
**17.**
**Analysis of net assets between funds**
**Analysis of net assets between funds - current period**
**Unrestricted**
**funds**
**2020**
**£**
Tangible fixed assets
125,725
Intangible fixed assets
-
Heritage assets
11,737
Current assets
107,304
Creditors due within one year
(4,170)
**Total**
240,596|_Income_
_£_
_-_
_33,385_
33,385
_25,127_
_58,512_
**Restricted**
**funds -**
**Spitfire**
**2020**
**£**
-
-
57,068
-
-
57,068|_Expenditure_
_£_
_-_
_(24,731)_
(24,731)
_(1,903)_
_(26,634)_
**Other**
**restricted**
**funds**
**2020**
**£**
3,051
6,318
-
460
-
9,829|_Balance at_
_31 October_
_2019_
_£_
_25,000_
_81,683_
_106,683_
_41,088_
_147,771_
**Total**
**funds**
**2020**
**£**
**128,776**
**6,318**
**68,805**
**107,764**
**(4,170)**
**307,493**|
|---|---|---|---|
Page 23
**FRIENDS OF LANGHAM DOME**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **17. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior period**
|Heritage assets
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2019_
_£_
-
108,430
(1,747)
106,683|_Restricted_
_funds_
_2019_
_£_
24,015
17,073
-
41,088|_Total_
_funds_
_2019_
_£_
_24,015_
_125,503_
_(1,747)_
_147,771_|
|---|---|---|---|
## **18. Related party transactions**
The Chairman of Trustees is also a Trustee of NNHBT.
During the year payments were made to Mr J M Clark, a trustee, amounting to £1,883 (2019: £nil) for work completed as Development Manager.
Page 24