**Charity number: 1157742** ## **FRIENDS OF LANGHAM DOME** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 OCTOBER 2023** ## **FRIENDS OF LANGHAM DOME** ## **CONTENTS** ||Page| |---|---| |**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1| |**Trustees' Report**|2 - 6| |**Independent Examiner's Report**|7| |**Statement of Financial Activities**|8| |**Balance Sheet**|9| |**Notes to the Financial Statements**|10 - 26| ## **FRIENDS OF LANGHAM DOME** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2023** |**Trustees**|Richard John Cole| |---|---| ||Roland Lithgow Goodison| ||Patrick John Stafford Allen, Chair| ||Roger O'Byrne Davis (resigned 5 August 2023)| ||Nigel Barry Quarles Back| ||Henry Douglas Labouchere| ||John Murray Clark (resigned 17 April 2023)| ||Dr Allan George Parker| ||Edward Neale Stafford Allen (resigned 23 January 2024)| ||Fiona Caroline Pridham| ||Charles Monteith (appointed 23 January 2024)| ||Anthony Mark Flynn (appointed 23 January 2024)| **Charity registered number** 1157742 **Principal office** Langham Dome Cockthorpe Road Holt Norfolk NR25 7BR **Accountants** MA Partners LLP Chartered Accountants 7 The Close Norwich Norfolk NR1 4DJ Page 1 ## **FRIENDS OF LANGHAM DOME** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2023** The Trustees present their annual report together with the financial statements of the Charity for the year 1 November 2022 to 31 October 2023. ## **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. NNHBT has subsequently leased the Dome to Friends of Langham Dome (“FoLD”) for 25 years and transferred to FoLD ownership of its contents. NNHBT is responsible for maintaining the structure of the dome building, with FoLD responsible for maintaining the contents. FoLD is jointly and severally liable, with NNBHT, to HLF for various substantial commitments to sustain the project. ## **c. 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 105 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. Page 2 ## **FRIENDS OF LANGHAM DOME** **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023** ## **Achievements and performance** ## **a. Review of activities** The Charity continues to seek ways of investing further to preserve the history and bring to life the role of RAF Langham in World War 2, and many aspects of the war itself, to all generations. This year the trustees changed staff roles to give the Manager (upon request) a reduced role whilst transferring some work in the job description to another member of staff to give that member of staff a full-time role. So with our Manager Deborah Preston overseeing some operations, Scott Eltringham became her assistant in a new role as Assistant Manager with Ian Jarvis remaining as Dome-coordinator, both working as our dedicated team at the Dome responsible for the day to day opening up and running of the museum, handling all the cash takings and iZettle card inputs. Their dedication was exemplary, and the Trustees are grateful for their hard work. In addition, Deborah Preston’s efforts in further enhancing the choice of goods available in the shop with exciting new lines of stock sales of which held up despite a significant fall in numbers of visitors. She continued to develop our social-media presence, with regular postings on Facebook and Instagram. This has become an important, and low cost, way to extend our reach to the general public and get our museum greater exposure. Of course, we cannot complete this report without mention of our dedicated band of volunteers, who on a daily basis turn out to support the coordinators and extend their individual knowledge of the Dome and the Airfield to the visitors. Our TripAdvisor and google reviews regularly highlight visitors’ appreciation of their participation in making their visit an amazing and memorable experience. We cannot praise or thank them enough. The Charity was faced with the prospect of replacing the aging projector System at a Capital cost of £7,633 this year. Funds were raised towards this requirement from donations of £2,650 and just under £3,000 by a trustee cycling West to East 146 miles across England from Whitehaven in Cumbria to Tynemouth in Northumberland on what is known in the cycling world as the C2C route. The balance fell to the Charity to fund from reserves. Regrettably, we could not go ahead with any further fund raising activity such as an open day this year due to other local events In Langham taking precedence. The Charity did not undertake a Raffle this year. We believe that in this fourth year of the full-size replica Spitfire by the Dome, it continues to have a major drawing power on visitors passing by. The table tops in the picnic area surrounding the Dome were replaced at a cost of £1,482 as they had deteriorated due to the impact of weather. These tables work in conjunction with information boards to provide visitors with a great deal of interesting information. They enhance the garden’s use as a picnic area, now surrounded by a well pruned hedge. Visitors appreciate using the area in which to relax and are encouraged to make a donation via the “Donation Post”, purchase food and beverages from an enhanced selection of stock and the beverage machine. Looking forward, the Trustees priority will continue to be to seek ways of investing further to preserve the history and bring to life the role of RAF Langham in World War 2, and many aspects of the war itself, to all generations. Page 3 **FRIENDS OF LANGHAM DOME** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023** ## **Financial review** ## **a. Review of the year** Visitor numbers fell this year due to what can only be explained as a general fall in visitor numbers experiencing a Staycation in North Norfolk. It was inevitable the previous year’s numbers would be high due to restrictions on travel overseas. Numbers fell by 672 to 4,191 (numbers increased by 163 to 4,863 in 2022). This fall inevitably led to a reduction in admission charges, vending machine sales, donations and Gift Aid, proving trustees had been wise to increase entrance fees by 5% both to offset the fall in numbers as well as mitigating the cost of providing support to the Charity due to rising prices. Overall though, total income of £53,891 ( _2022 - £54,618_ ) was marginally less than last year. Total expenditure was £64,294 ( _2022 - £66,012_ ) so marginally less. Net movement in funds was a reduction of £9,539 ( _2022 - £11,394_ ). This figure comprises £5,725 for unrestricted funds and £3,814 in restricted funds. Depreciation of £20,286 ( _2022 - £21,298_ ) continues to impact on Total net assets which are £280,704 ( _2022 - £290,243_ ). The figure of £280,704 is made up of Restricted Funds worth £59,405 (Spitfire and other heritage assets) and £221,299 Unrestricted Funds (all General funds). Looking forward, this depreciation of assets taken over from the Landlord (NNHBT) will reduce over the next 5 years as reflected in our five-year business plan. Whilst not a current cash expenditure, it does indicate the need to conserve funds for renewal of assets. Keeping a very close eye on our liquid assets in the bank, the trustees felt confident they could move a further £20,000 from the Deposit Account into the CCLA Investment portfolio to protect the Charity’s reserves from inflation. Cash at bank and in hand at year end was £34,193 ( _2022 - £52,720_ ) a fall of £18,257. This fall in cash reserves was largely a result of the transfer to funds of CCLA mentioned in the previous sentence. The timing of the investment into reserves coupled with the impact on the Stock Market of the economy in general plus the war in Ukraine showed a reduction in value of the CCLA Fund of £1,399. The value of £90,000 invested as at 31st October 2023 was a sale value of £88,601. ## **b. Reserves policy** Total reserves held as at 31 October 2023 was £280,704 ( _2022_ - _£290,243_ ). Free reserves, being unrestricted funds not represented by fixed assets were £67,095 ( _2022 - £60,167_ ). At the end of 2023 Financial Year we had built up liquid assets of £122,794 being £88,601 invested in CCLA funds and £34,193 in cash at bank and in hand. This, as planned, should give us a reasonably comfortable cushion against the ebbs and flows of our operations and some flexibility to take advantage of opportunities for investment to enhance our visitor attraction. The Trustees believe that we should hold in reserve around two years' operational cash expenditure, estimated to be in the order of £80,000. In addition, in due course the depreciation charge will manifest itself in the need for cash to renew assets which is also likely to require us to resort to grant funding. We have no wish to accumulate cash which could be used for further investment but the Trustees continue to believe that the best investment is financial prudence to ensure that our project will continue for many years to come. ## **c. Investment of funds** The Trustees agreed to invest a further £20,000 in CCLA Funds bringing the total invested to £90,000. ## **d. Independent examination** The Trustees re-appointed MA Partners for the ensuing year. Page 4 ## **FRIENDS OF LANGHAM DOME** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023** ## **e. Going concern** The Trustees have considered the charity's position at the time of signing the financial statements, and in particular the ongoing impact of stubbornly high inflation and its potential impact on the Charity and the wider economy and society. The trustees note the Bank of England’s efforts to bring down inflation to the 2% target but this will not be achieved until later in the next financial year. They decided not to increase admission charges further in 2023 because of the fear of driving visitors away. As such under the current circumstances it is again difficult to predict the impact for the remainder of the financial year and medium term on visitor numbers. Having taken action in 2022 in their 5-year business plan to mitigate the impact of inflation by increasing entry fees by a modest 5%, coupled with an anticipated drop in the rate of inflation to 2% during 2023, trustees are confident they can meet their budgeted income stream, but not rule out doing so should visitor numbers continue to fall. 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. After making appropriate enquiries and investigation of the Future of the North Norfolk Historical Building Trust (NNHBT) their Landlord, 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. ## **Structure, governance and management** ## **a. Constitution** Friends of Langham Dome is a registered charity, number 1157742, and is constituted under a Memorandum of Association. ## **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 Memorandum of Association. 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 2023 statemont of Trustees. rosponsiblliti•s The Trustees are responsible for preparing the Trustees, Report and the financial slatements in accordan¢e with applicable law and United ￿ngdorn Accounting Standards (Uniled ￿ngdorn Generally Accepted Accountlng Practice). The I￿ applicable to ¢haritie5 in England & Wales requires the Trustees to prepare financial st*m8nts for each financial year which give a true and fair view of the state of affair5 of the Chafity and of ils incoming resources and application of resour￿, including its inwme and expenditwe. for that period. In preparing these financial slatements, the Trustees are requlred to.. select sultable accounting polirAes and then apply them consistently: observe the methods and principles of Ihe Charlties SORP IFRS 102): make judgments and accounting estrmates that are reasonable and pruden¢ slate whether applicable UK Accounting Standards IFRS 102) have been followed. Subject to any matertal departures disclosed and explained in Ihe financial statements., prepare the finanGial statemen15 On the going Goncern basis unle55 it is ￿appropriate lo presume that the Charity Mll Contin￿ in business. The Trustees are responsible for keeping adequate acGounting records that are sufficient to show and explain the Charity'5 tran5aGtions and disc105e with reasonable acujracy at any time the financial p0S￿On ofthe Charity and enable them to ensure that the financial statements comply w(th the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provislons of the Memorandum of Association. 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 slgned on thelr behalf by: PatslGk John Stafford Allen BEM iiichard Jahn Col& Dale: 24 April 2024 Page 6 ## **FRIENDS OF LANGHAM DOME** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2023** ## **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 2023. ## **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: 16 May 2024 Alice Lynch BSc FCA DChA ## **MA Partners LLP** Chartered Accountants 7 The Close Norwich Norfolk NR1 4DJ Page 7 ## **FRIENDS OF LANGHAM DOME** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2023** |**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
**Total income**
**Expenditure on:**
Raising funds
7
Charitable activities
8
**Total expenditure**
**Net expenditure before net gains on**
**investments**
Net gains on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**6,967**
**37,828**
**8,986**
**110**
**53,891**
**3,706**
**56,774**
**60,480**
**(6,589)**
**864**
**(5,725)**
**227,024**
**(5,725)**
**221,299**|**Restricted**
**funds**
**2023**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**3,814**
**3,814**
**(3,814)**
**-**
**(3,814)**
**63,219**
**(3,814)**
**59,405**|**Total**
**funds**
**2023**
**£**
**6,967**
**37,828**
**8,986**
**110**
**53,891**
**3,706**
**60,588**
**64,294**
**(10,403)**
**864**
**(9,539)**
**290,243**
**(9,539)**
**280,704**|_Total_
_funds_
_2022_
_£_
_3,110_
_37,982_
_13,501_
_25_
_54,618_
_4,002_
_62,010_
_66,012_
_(11,394)_
_-_
_(11,394)_
_301,637_
_(11,394)_
_290,243_| |---|---|---|---|---| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 10 to 26 form part of these financial statements. Page 8 FRIEND8 OF LANGHAM DOME BALANCE 8HEEr AS AT 31 OCTOBER 2023 2023 2022 Noto Plxod assots Intangible assets Tangible assets Heritage assets 12 13 14 4.212 89.606 60A86 4,914 98,684 63,259 104204 166,857 Curr•nt ass•ts stocks Debtors Investments Cash at bank and In hand 15 16 17 2.768 S,aV2 88.601 34,193 2,249 4.569 67,737 52,720 130,914 127,275 Credllors: amounts falllng due wJlhln one ygsr 18 14414 (3,889) N•t curr•nt ass•ts 126.000 123,386 Totil ass0ts1oss ¢urront Ilabllltl•s 280.704 290,243 . Total n•t assots 280.704 290,243 Charfty funds Restrtcted fvnds Unrestrlcted funds 20 20 69A06 221,299 63,219 227,024 Total funds 280.704 290,243 The financial stalemenls were approved arKI aulhorlsed for Issue by the Trustees and slgn8d on thelr behglf by.. Patrick John Stafforil Allon BEM Rlehard John Colo Dale: 24 AFxiI 2024 The notss on page¥ 10 to 26 fom part of these financi81 statements. Page 9 **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **1. General information** Friends of Langham Dome is a registered charity (1157742) registered in England and Wales. The members of 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 in the preparation of these financial statements are set 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 in October 2019 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 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 10 **FRIENDS OF LANGHAM DOME** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **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. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will 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. 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. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 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 on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. 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. ## **2.5 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. Page 11 ## **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **2. Accounting policies (continued)** ## **2.6 Intangible assets and amortisation** Intangible assets costing £1 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: |Website|-|5 years| |---|---|---| |Film license|-|5-10 years| ## **2.7 Tangible fixed assets and depreciation** Tangible fixed assets costing £1,000 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 impairment 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, using the straight-line method. Depreciation is provided on the following bases: - Plant and machinery 10 years - Fixtures and fittings 5-25 years Other fixed assets - 15 years ## **2.8 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. Depreciation is provided on the following basis: - Replica Spitfire 25 years ## **2.9 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. Page 12 **FRIENDS OF LANGHAM DOME** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **2. Accounting policies (continued)** ## **2.10 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. ## **2.11 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. ## **2.12 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. ## **2.13 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. ## **2.14 Operating leases** The lease of premises at Trainer Dome, Langham Airfield, Cockthorpe Road, Langham has a term of 25 years beginning on 1 January 2019 and expiring on 31 December 2043. Consideration for the lease has been agreed as annual peppercorn rent. ## **2.15 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. 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 13 ## **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **3. Income from donations and legacies** |**Unrestricted**
**funds**
**2023**
**£**
Donations
6,967
Legacies
-
Grants
-
6,967
_Total 2022_
_3,110_|**Total**
**funds**
**2023**
**£**
**6,967**
**-**
**-**
**6,967**
_3,110_|_Total_
_funds_
_2022_
_£_
_500_
_2,000_
_610_| |---|---|---| |||_3,110_| |||| ## **4. Income from charitable activities** |**Unrestricted**
**funds**
**2023**
**£**
Income from charitable activities - Langham Dome
37,828
_Total 2022_
_37,982_
**Income from other trading activities**
**Income from fundraising events**
**Unrestricted**
**funds**
**2023**
**£**
Raffle
-
_Total 2022_
_3,229_|**Total**
**funds**
**2023**
**£**
**37,828**
_37,982_
**Total**
**funds**
**2023**
**£**
**-**
_3,229_|_Total_
_funds_
_2022_
_£_
_37,982_| |---|---|---| |||_Total_
_funds_
_2022_
_£_
_3,229_| |||| ## **5. Income from other trading activities Income from fundraising events** Page 14 ## **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **5. Income from other trading activities (continued)** ## **Income from non charitable trading activities** |**Unrestricted**
**funds**
**2023**
**£**
Merchandise and refreshment sales
8,986
_Total 2022_
_10,272_|**Total**
**funds**
**2023**
**£**
**8,986**
_10,272_|_Total_
_funds_
_2022_
_£_
_10,272_| |---|---|---| |||| ## **6. Investment income** |**Unrestricted**
**funds**
**2023**
**£**
Investment income - bank interest
110
_Total 2022_
_25_|**Total**
**funds**
**2023**
**£**
**110**
_25_|_Total_
_funds_
_2022_
_£_
_25_| |---|---|---| |||| ## **7. Expenditure on raising funds** ## **Fundraising trading expenses** |**Unrestricted**
**funds**
**2023**
**£**
Raffle
-
_Total 2022_
_400_|**Total**
**funds**
**2023**
**£**
**-**
_400_|_Total_
_funds_
_2022_
_£_
_400_| |---|---|---| |||| Page 15 ## **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **7. Expenditure on raising funds (continued)** ## **Other trading expenses** |**Unrestricted**
**funds**
**2023**
**£**
Merchandise and refreshment sales
3,706
_Total 2022_
_3,602_|**Total**
**funds**
**2023**
**£**
**3,706**
_3,602_|_Total_
_funds_
_2022_
_£_
_3,602_| |---|---|---| |||| ## **8. Analysis of expenditure on charitable activities** ## **Summary by fund type** |**Unrestricted**
**funds**
**2023**
**£**
Langham Dome
56,774
_Total 2022_
_58,196_|**Restricted**
**funds**
**2023**
**£**
3,814
_3,814_|**Total**
**2023**
**£**
**60,588**
_62,010_|_Total_
_2022_
_£_
_62,010_| |---|---|---|---| ||||| ## **9. Analysis of expenditure by activities** |Langham Dome
_Total 2022_|**Activities**
**undertaken**
**directly**
**2023**
**£**
7,412
_12,654_|**Support**
**costs**
**2023**
**£**
53,176
_49,356_|**Total**
**funds**
**2023**
**£**
**60,588**
_62,010_|_Total_
_funds_
_2022_
_£_
_62,010_| |---|---|---|---|---| |||||| Page 16 ## **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **9. Analysis of expenditure by activities (continued)** ## **Analysis of direct costs** |Dome manager fees
_Total 2022_|**Langham**
**Dome**
**2023**
**£**
7,412
_12,654_|**Total**
**funds**
**2023**
**£**
**7,412**
_12,654_|_Total_
_funds_
_2022_
_£_
_12,654_| |---|---|---|---| ||||| ## **Analysis of support costs** |Dome co-ordinator fees
Dome support staff
Services (electricity, insurances, web hosting)
Marketing
Bookkeeping fees
Loss on investment
Repairs and maintenance
Accountancy fees
Sundry
Bank charges
Depreciation
_Total 2022_|**Langham**
**Dome**
**2023**
**£**
14,476
2,727
6,585
2,647
2,988
-
1,158
1,382
540
387
20,286
53,176
_49,356_|**Total**
**funds**
**2023**
**£**
**14,476**
**2,727**
**6,585**
**2,647**
**2,988**
**-**
**1,158**
**1,382**
**540**
**387**
**20,286**
**53,176**
_49,356_|_Total_
_funds_
_2022_
_£_
_7,229_
_2,091_
_6,920_
_2,628_
_2,760_
_2,263_
_2,173_
_1,300_
_262_
_432_
_21,298_| |---|---|---|---| ||||_49,356_| ||||| Page 17 ## **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **10. Independent examiner's remuneration** ||**2023**|_2022_| |---|---|---| ||**£**|_£_| |Fees payable to the Charity's independent examiner for the independent||| |examination of the Charity's annual accounts|**1,380**|_1,302_| ## **11. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits _(2022 - £855)_ . During the year ended 31 October 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ . ## **12. Intangible assets** |**Cost**
At 1 November 2022
At 31 October 2023
**Amortisation**
At 1 November 2022
Charge for the year
At 31 October 2023
**Net book value**
At 31 October 2023
_At 31 October 2022_|**Website**
**£**
**10,000**
**10,000**
**10,000**
**-**
**10,000**
**-**
_-_|**Film licence**
**£**
**11,844**
**11,844**
**6,930**
**702**
**7,632**
**4,212**
_4,914_|**Total**
**£**
**21,844**| |---|---|---|---| ||||**21,844**| ||||**16,930**
**702**| ||||**17,632**| ||||**4,212**| ||||_4,914_| Page 18 ## **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **13. Tangible fixed assets** |**Cost or valuation**
At 1 November 2022
Additions
At 31 October 2023
**Depreciation**
At 1 November 2022
Charge for the year
At 31 October 2023
**Net book value**
At 31 October 2023
_At 31 October 2022_|**Plant and**
**machinery**
**£**
**85,102**
**-**
**85,102**
**67,048**
**8,510**
**75,558**
**9,544**
_18,054_|**Fixtures and**
**fittings**
**£**
**137,196**
**7,633**
**144,829**
**59,926**
**7,821**
**67,747**
**77,082**
_77,270_|**Other fixed**
**assets**
**£**
**7,200**
**-**
**7,200**
**3,840**
**480**
**4,320**
**2,880**
_3,360_|**Total**
**£**
**229,498**
**7,633**| |---|---|---|---|---| |||||**237,131**| |||||**130,814**
**16,811**| |||||**147,625**| |||||**89,506**| |||||_98,684_| Page 19 ## **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **14. Heritage assets** ## **Assets recognised at cost** |Carrying value at 1 November 2022
Charge for the year
**Analysis of heritage asset transactions**
**2023**
**£**
**Purchases**
Replica Spitfire
-
**Total additions**
-|**2022**
**£**
-
-|**2021**
**£**
-
-|**Replica**
**Spitfire**
**2023**
**£**
63,259
(2,773)
60,486
**2020**
**£**
44,840
44,840|**Total**
**2023**
**£**
**63,259**
**(2,773)**
**60,486**
**2019**
**£**
12,750
12,750| |---|---|---|---|---| |**Purchases**
Replica Spitfire
**Total additions**||||| Page 20 ## **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **15. Stocks** |Goods for resale
**16.**
**Debtors**|**2023**
**£**
**2,768**|_2022_
_£_
_2,249_| |---|---|---| |||| |**Due within one year**
Prepayments and accrued income
**17.**
**Current asset investments**
Investments|**2023**
**£**
**5,352**
**5,352**
**2023**
**£**
**88,601**|_2022_
_£_
_4,569_| |---|---|---| |||| |||_4,569_| |||_2022_
_£_
_67,737_| Page 21 ## **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **18. Creditors: Amounts falling due within one year** |Other taxation and social security
Other creditors
Accruals and deferred income|**2023**
**£**
**55**
**1,870**
**2,489**
**4,414**|_2022_
_£_
_469_
_605_
_2,815_| |---|---|---| |||| |||_3,889_| ## **19. Financial instruments** ||**2023**|_2022_| |---|---|---| ||**£**|_£_| |**Financial assets**||| |Financial assets measured at fair value through income and expenditure|**122,794**|_120,457_| Financial assets measured at fair value through income and expenditure comprise of cash and cash equivalents. Page 22 ## **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **20. Statement of funds** ## **Statement of funds - current year** |**Balance at 1**
**November**
**2022**
**£**
**Unrestricted funds**
General Funds - all funds
**227,024**
**Restricted funds**
Restricted Fund - Other
**7,747**
Restricted Fund - Spitfire
**55,472**
**63,219**
**Total of funds**
**290,243**|**Income**
**£**
**Expenditure**
**£**
**53,891**
**(60,480)**
**-**
**(1,041)**
**-**
**(2,773)**
**-**
**(3,814)**
**53,891**
**(64,294)**|**Gains/**
**(Losses)**
**£**
**864**
**-**
**-**
**-**
**864**|**Balance at**
**31 October**
**2023**
**£**
**221,299**| |---|---|---|---| ||||**6,706**
**52,699**| ||||**59,405**| ||||**280,704**| Page 23 ## **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **20. Statement of funds (continued)** ## **Statement of funds - prior year** |**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Restricted Fund - Other
Restricted Fund - Spitfire
**Total of funds**|_Balance at_
_1 November_
_2021_
_£_
_234,604_
_8,788_
_58,245_
_67,033_
_301,637_|_Income_
_£_
_54,618_
_-_
_-_
_-_
_54,618_|_Expenditure_
_£_
_(62,198)_
_(1,041)_
_(2,773)_
_(3,814)_
_(66,012)_|_Balance at_
_31 October_
_2022_
_£_
_227,024_| |---|---|---|---|---| |||||_7,747_
_55,472_| |||||_63,219_| |||||_290,243_| ## **21. Summary of funds** ## **Summary of funds - current year** |**Balance at 1**
**November**
**2022**
**£**
General funds
**227,024**
Restricted funds
**63,219**
**290,243**|**Income**
**£**
**Expenditure**
**£**
**53,891**
**(60,480)**
**-**
**(3,814)**
**53,891**
**(64,294)**|**Gains/**
**(Losses)**
**£**
**864**
**-**
**864**|**Balance at**
**31 October**
**2023**
**£**
**221,299**
**59,405**| |---|---|---|---| ||||**280,704**| Page 24 ## **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **21. Summary of funds (continued)** ## **Summary of funds - prior year** |||_Balance at_|||_Balance at_| |---|---|---|---|---|---| |||_1 November_|||_31 October_| |||_2021_|_Income_|_Expenditure_|_2022_| |||_£_|_£_|_£_|_£_| |General funds||_234,604_|_54,618_|_(62,198)_|_227,024_| |Restricted funds||_67,033_|_-_|_(3,814)_|_63,219_| |||_301,637_|_54,618_|_(66,012)_|_290,243_| |**Analysis of net assets between funds**|||||| |**Analysis of net assets between funds**|**- current year**||||| ||||**Unrestricted**|**Restricted**|**Total**| ||||**funds**|**funds**|**funds**| ||||**2023**|**2023**|**2023**| ||||**£**|**£**|**£**| |Tangible fixed assets|||89,506|-|**89,506**| |Intangible fixed assets|||4,212|-|**4,212**| |Heritage assets|||60,486|-|**60,486**| |Current assets|||71,509|59,405|**130,914**| |Creditors due within one year|||(4,414)|-|**(4,414)**| |**Total**|||221,299|59,405|**280,704**| |**Analysis of net assets between funds - prior**||**year**|||| ||||_Unrestricted_|_Restricted_|_Total_| ||||_funds_|_funds_|_funds_| ||||_2022_|_2022_|_2022_| ||||_£_|_£_|_£_| |Tangible fixed assets|||_98,684_|_-_|_98,684_| |Intangible fixed assets|||_4,914_|_-_|_4,914_| |Heritage assets|||_63,259_|_-_|_63,259_| |Current assets|||_64,056_|_63,219_|_127,275_| |Creditors due within one year|||_(3,889)_|_-_|_(3,889)_| |**Total**|||_227,024_|_63,219_|_290,243_| ||||||| ## **22. Analysis of net assets between funds** Page 25 ## **FRIENDS OF LANGHAM DOME** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **23. Related party transactions** During the year the Charity received a grant of £2,000 (2022 - £nil) from North Norfolk Historic Buildings Trust, a charity with one trustee in common. Page 26