2020-12-31-accounts - The Battle Of Britain Memorial Trust CIO

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			Page
Trustees' annual report
Independent auditor's	report to the	members
Consolidated statement	offinancial	activities	15
Consolidated statement	offinancial	position	16
Statement offinancial	position		17
Consolidated statement	ofcash flows		18
Notes to the financial statements			19

Reference and administrative	Reference and administrative	Reference and administrative	Reference and administrative	Reference and administrative	details
Registered charity name					The Battle of Britain Memorial Trust			CIO
Charity	registration		number		1169005
Registered Address					PO Box337,West Mailing,	Kent,	ME6			9AA
Patron					HRH Prince Michael ofKent	GCVO
Trustees
President					Air Chief Marshal Sir Stephen Dalton				GCB
Chairman					Richard Hunting CBE
					Violet Lady Aitken (Died 18	February			2021)
					The Hon Rory Aitken
					Mrs Deborah Burns
					Lieutenant Colonel Barry Duffield		DL
					Wing Commander Sophy Antrobus			MBE RAF (Ret'd)
					Mr Robin Green
					Flight Lieutenant Bernard Hyde AE* (Died 2 September 2020)
					Mr Nick Lawn BSc(Hone) MRICS
					Mr Roland Parry BA (Hone)	FCA (res.				6October 2020)
					Air Vice-Marshal the Ven Ray Pentland					CB
					Mr David Rosier
					Wing Commander Andrew Simpson			BScRAFVR(T) (Ret'd)
Hon Secretary					Group Captain Patrick Tootal OBE			DL
Officers	(with no	Trustee		responsibilities)
Life Vice	President				Air Chief Marshal Sir Michael	Graydon				GCBCBE
Life Vice	President				Mrs Shelley Page-Gubelmann
Life Vice	President				John Henderson (Died 16November				2020)
Life Vice	President				Paul Tory
Life Vice	President				Mrs Geraldine Allinson OBE	DL
Life Vice	President				Mr Roland Parry BA (Hons)	FCA (appt				6 October 2020)
Key Management		Person		nel
Hon Treasurer					Mr R Parry BA (Hone) FCA (res. 6		October 2020)
Hon Treasurer					Mrs SJ Pilcher BA (Hons), CSBM		(appt 31 July 2020)
Events Organiser					Mrs J Tootal BEM
Site Manager					Major (Ret'd) J Gomez
Assistant	Site Manager				Mrs A Gomez
PR Consultants					Go4 Marketing and PR Ltd
Assistant	to Hon Secretary				Mrs K Hume
Marketing	Consultants				Realia Marketing

				2020		2019
			Unrestricted	Restricted
			funds	funds	Total funds	Total funds
		Note	F	8		E
Income and endowments
Donations and legacies		4	318,209	61,000	379,209	125,876
Other trading activities		5	155,607		155,607	374,582
Investment income		6	35,041		35,041	52,636
Other income		7	198		198	264
Total income			509,055	61,000	570,055	553,558
Expenditure
Expenditure on raising funds: Costs of
other trading activities		8	61,393		61,393	124,151
Expenditure on charitable	activities	9,10	604,201	5,897	610,098	753,515
Other expenditure		12				246
Total expenditure			665,594	5,897	671,491	877,912
Net gains/(losses) on investments		13	74,256		74,256	(24,681)
Net income/(expenditure)	and net
movement in funds			(82,283)	55,103	(27,180)	(349,035)
Reconciliation offunds
Total funds brought forward			4,670,037	1,963	4,672,000	5,021,035
Total funds carried forward			4,587,754	57,066	4,644,820	4,672,000

	Consolidated	Statement ofFinan 31 December 2020	cial Posit	ion
Group			Note	2020 8	2019
Fixed assets
Intangible assets Tangible fixed assets			18 19	21,000 3,496,656	21,000 3,641,205
Fixed asset investments			20	1,320,250	1,270.653
				4,837,906	4,932,658
Current assets
Stock				84,123	93,903
Debtors			21	44,203	39,251
Cash st bank and in	hand			148,802	93,374
				277,128	226,528
Creditors: amounts	fallmg due within	one year	22	71,305	95,140
Net current assets				205,823	131,388
Total assets less current liabilities				5,043,729	5,064,246
Creditors: amounts	falling due after	more than one year	23	398,909	392,246
Net assets				4,644,820	4,672,000
Funds ofthe charity
Restricted funds				57,066	1,963
Unrestricted funds				4,587,754	4,670,037
Total charity funds			25	4,644,820	4,672,000

	Statement of Financial Pos	ition
Charity			2020	2D19
		Note
Fixed assets
Intangible assets		18	21,000	21,000
Tangible fixed assets		19	3,496,101	3,640,465
Fixed asset investments		20	1,320,250	1,270,653
			4,837,351	4,932,118
Cunsnt assets
Debtors		21	258,802	196,678
Cash at bank and in	hand		144,419	84,396
			403,221	281,074
Creditors: amounts	falling due within one year	22	68,365	90,821
Net current assets			334,856	190,253
Total assets less current liabilities			5,172,207	5,122,371
Creditors: amounts	falling due after more than one year	23	398,909	392,246
Net assets			4,773,298	4,730,125
Funds ofthe charity
Restricted funds			57,066	1,963
Unrestricted funds			4,716,232	4,728,162
Total charity funds		25	4,773,298	4,730,125

	Year ende	d 31 December	2020
			2020	2019
Cash flows from operating	activities
Net income/(expenditure)			(27,180)	(349,035)
Adjustments for:
Depreciation oftangible fixed assets			215,000	211,377
Net gains/(losses) on investments			(49,596)	24,681
Dividends, interest and rents	from investments		(31,932)	(45,169)
Other interest receivable and similar income			(3,109)	(7,667)
Interest payable and similar	charges		15,026	17,963
Loss on disposal oftangible	fixed assets			246
Accrued expenses			3,045	7,654
Changesim
Stock			9,780	28,536
Trade and other debtors			8,566	(53,611)
Trade and other creditors			(29,399)	23,135
Cash generated from operations			110,201	(141,890)
Interest paid			(15,026)	(17,963)
Interest received			3,109	7,667
Net cash from/(used in) operating activities			98,284	(152,186)
Cash flows from investing	activities
Dividends, interest and rents	from investments		31,932	45,169
Purchase oftangible assets			(70,451)	(22,005)
Proceeds from sale oftangible assets				58,509
Purchases of other investments
Proceeds from sale ofother	investments			112,489
Net cash from investing activities			(38,519)	194,162
Cash flows from financing	activities
Proceeds from borrowings			(4,337)	(19,870)
Net cash used in financing activities			(4,337)	(19,870)
Net increase in cash and cash equivalents			55,428	22,106
Cash and cash equivalents	at beginning	ofyear	93,374	71,268
Cash and cash equivalents	at end ofyear		148,802	93,374

		Unrestricted	Restricted	Total Funds
		Funds	Funds	2020
			f	6
Donations
Donations		130,865		130,865
Collection Boxes		7,840		7,840
Legacies
Legacies		155,675	10,000	165,675
Grants
Government	grants	23,829	51,000	74,829
		318,209	61,000	379,209

Donations	and legacies
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2019
			F
Donations
Donations		46,614		46.614
Collection Boxes		17,487		17,487
Legacies
Legacies		61,775		61,775
Grants
Government	Grants
		125,876		125,876

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds f	2020 f	Funds f	2019 f
Functions	18,357	18,357	88,730	88,730
Friends ofthe Few Association	18,301	18,301	16,404	16,404
Raffle Tickets			610	610
Shop income	94,390	94,390	203,839	203,839
The Scramble Experience	17,964	17,964	49,456	49,456
Car park	6,595	6,595	15,543	15,543
	155,607	155,607	374,582	374,582
nvestment income
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2020	Funds	2019
Income from listed investments	31,932	31,932	45,169	45,169
Bank interest receivable	3,109	3,109	7,667	7,667
	35,041	35,041	52,836	52,836

Other income
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds 5	2020	Funds f	2019 E
Royalties and license fees	198	198	155	155
Other income			109	109
	198	198	264	264
Costs ofother trading activities
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds 5	2020 5	Funds f	2019 E
Shop costs - purchases	61,393	61,393	124,151	124,151
	61,393	61,393	124,151	124,151

Expendit	ure	on charitabl	e activities by f	und type
			Unrestricted	Restricted	Total Funds	Unrestricted	Total Funds
			Funds	Funds	2020 f	Funds 5	2019 8
Heritage	and	Education	509,206	5,897	515,103	640,242	640,242
Support	costs		94,995		94,995	113,273	113,273
			604,201	5,897	610,098	753,515	753,515

Expendit	ure	on charitable acti	vities by activity type
			Activities
			undertaken	Support	Total funds	Total fund
			directly	costs	2020	2019
					6	5
Heritage	and	Education	515,103	93,420	608,523	752,015
Governance		costs		1,575	1,575	1,500
			515,103	94,995	610,098	753,515

		Total 2020 f	Total 2019 6
General office		52,313	47,003
Governance costs		1,575	1,500
Other motor/travel	costs	4,190	10,995
Legal and professional		5,721	14,446
Bookkeeping costs		11,346	14,359
Interest and other bank charges		19,850	24,970
		94,995	113,273

12.	Other e	xpenditu	re
						Unrestricted	Total	Funds	Unrestricted	Total Funds
						Funds		2020	Funds	2019
						5			5	E
	Loss on	disposal oftangible			fixed
	assets held for		charity's	own	use				246	246
13.	Net gains/(losses) on investments
						Unrestricted	Total	Funds	Unrestricted	Total Funds
						Funds		2020	Funds	2019
						5			F	E
	Gains/(losses)		on listed	investments		74,256		74,256	(24,681)	(24,681)
14.	Net income/(expenditure)
	Net income/(expenditure)			is stated after charging/(crediting);
									2020	2019
										E
	Depreciation of		tangible	fixed assets					215,000	211,377
	Loss on	disposal oftangible fixed assets								246
	Interest	payable	on bank	loans					11,201	13,424
15.	Auditors'	remuneration
									2020	2019
										F
	Fees payable for the audit ofthe financial					statements			1,575	1,500

the auditor ofthe Charity Staff costs	, by The	Battle of Britain Memorial	Limited	, a subsidiary of	the Charity.
The total staff costs and	employee	benefits for the reporting	period	are analysed as	follows:
				2020	2019
					6
Wages and salaries				153,927	148,351
Social security costs				6,782	8,669
Employer contributions	to pension	plans		2,237	1,975
				162,946	158,995

Year ended 31 December 202 Intangible assets SdCh	0
~	Trademarks
Cost
At 1January 2020 and 31 December 2020	21,000
Amortisation
At 1January 2020 and 31 December 2020
Carrying amount
At 31December 2020	21,000
At 31 December 2019	21,000

Tangible fixed ass	ets
				Security,
			Furniture,	site and
	Land and	Hurricane	fittings and	office	Memorial
~Grou	buildings	and Spitfire f	equipment F	equipment 6	wall F	Total
Cost
At 1 Jan 2020	4,413,407	49,772	31,872	116,752	146,111	4,757,914
Additions	57,033		8,339	5,079	—	70,451
At 31 Dec 2020	4,470,440	49,772	40,211	121,831	146,111	4,828,365
Depreciation
At 1 Jan 2020	946,082	41,252	12,558	89,392	27,425	1,116,709
Charge for the
year	200,840	2,489	2,623	7,475	1,573	215,000
At 31 Dec 2020	1,146,922	43,741	15,181	96,867	28,998	1,331,709
Carrying amount
At 31 Dec 2020	3,323,518	6,031	25,030	24,964	117,113	3,496,656
At 31 Dec 2019	3,467,325	8,520	19,314	27,360	118,686	3,641,205
				Security,
			Furniture,	site and
	Land and	Hurricane	fittings and	office	Memorial
~charit	buildings 6	and Spitfire	equipment f	equipment	wall	Total f
Cost
At 1 Jan 2020	4,413,407	49,772	31,007	116,302	146,111	4,756,599
Additions	57,033		8,339	5,079		70,451
At 31 Dec 2020	4,470,440	49,772	39,346	121,381	146,111	4,827,050
Depreciation
At 1 Jan 2020	946,082	41,252	12,152	89,223	27,425	1,116,134
Charge for the
year	200,840	2,489	2,508	7,405	1,573	214,815
At 31 Dec 2020	1,146,922	43,741	14,660	96,628	28,998	1,330,949
Carrying amount
At 31 Dec 2020	3,323,518	6,031	24,686	24,753	117,113	3,496,101
At 31 Dec2019	3,467,325	8,520	18,855	27,079	118,686	3,640,465

Year ended 31 December 202 Fixed asset investments	0
	Listed
~GdCh r	investmentsf
Cost or valuation
At 1 January 2020	1,270,653
Additions	176,553
Dispos ala	(163,133)
Fair value movements	36,177
At 31December 2020	1,320,250
Impairment
At 1January 2020 and 31 December 2020
Carrying amount
At 31December 2020	1,320,250
At 31 December 2019	1,270,653

e following investments amo	unted	to more than	5%ofthe tot	al asset in	vestments of	the CIO.
			2020 f	2020	2019 f	2019
Hunting Ord 25p			54,537	4.1%	102,312	8.1%
Goldman Sachs AM Stirling	Liquid	Reserves	92 017	7 0%	132017	104%
BlackRock Armed Forces Charities		Growth	591 262	44.8%	564 116	44 4%
8 Income Fund

Debtors
~Grou		2020 f	2019 F
Trade debtors		175	534
Prepayments	and accrued income	20,715	9,616
Other debtors		23,313	29,101
		44,203	39,251

21.	Debtors (cont.i
			2020	2019
	~charit		6
	Trade debtors		45,590	14,053
	Amounts owed by group undertakings		172,448	144,837
	Prepayments and accrued income		20,715	9,616
	Other debtors		20,049	28,172
			258,802	196,678
22.	Creditors: amounts	falling due within one year
	~Grou		2020	2019
			6
	Bank loans and overdrafts		23,000	34,000
	Trade creditors		20,159	24,987
	Accruals and deferred	income	23,046	20,001
	Social security and other taxes		3,540	3,598
	Other creditors		1,560	12,554
			71,305	95,140
	~Chari		2020	2019
			r	6
	Bank loans and overdrafts		23,000	34,000
	Trade creditors		18,749	22,868
	Accruals and deferred	income	21,516	17,801
	Social security and other taxes		3,540	14,913
	Other creditors		1,560	1,239
			68,365	90,821
23.	Creditors: amounts falling due after more than one year
	~Gd Ch r		2020 f	2019
	Bank loans and overdrafts		398,909	392,246

							At 31
			At 1 January			Gains and	December
~Grou			2020 f	Income 8	Expenditure F	losses 6	2020 E
General funds			1,562,366	509,055	(460,692)	74,256	1,684,985
Visitor's Centre		Fund	2,903,365		(200,840)		2,702,525
Friends of	The Few
Association			107,748				107,748
Hurricane	Fund		38,559		(2,489)		36,070
Memorial Wall Fund			57,999		(1,573)		56,426
Total unrestricted		funds	4,670,037	509,055	(665,594)	74,256	4,587,754
							At 31
			At 1 January			Gains and	December
			2020	Income	Expenditure	losses	2020
~charit			F	F	6	F	F
General funds			1,620,491	489,572	(370,856)	74,256	1,813,463
Visitor's Centre		Fund	2,903,365		(200,840)		2,702,525
Friends of	The Few
Association			107,748				107,748
Hurricane	Fund		38,559		(2,489)		36,070
Memorial Wall Fund			57,999		(1,573)		56,426
Total unrestricted		funds	4,728,162	489,572	(575,758)	74,256	4,716,232
Restricted	funds
							At 31
~Qd	Cl	di	At 1 January 2020 5	Income f	Expenditure f	Gains and losses	December 2020
Biggin Hill The Wing The Wing	Roof Lights		1,963	51,000 10,000	(5,666) (231)		1,963 45,334 9,769
Total general funds			1,963	61,000	(5,897)		57,066

Analysis	of net a	sse	ts between fun	ds
						Total	Total
				Unrestricted	Restricted	Funds	Funds
				Funds	Funds	2020	2019
~Grou				6	E	E	E
Intangible	assets			21,000		21,000	21,000
Tangible	fixed assets			3,451,722	44,934	3,496,656	3,641,205
Investments				1,320,250		1,320,250	1,270,653
Current assets				264,996	12,132	277,128	226,528
Creditors	less than	1	year	(71,305)		(71,305)	(95,140)
Creditors	greater than		1 year	(398,909)		(398,909)	(392,246)
Net assets				4,587,754	57,066	4,644,820	4,672,000
						Total	Total
				Unrestricted	Restricted	Funds	Funds
				Funds	Funds	2020	2019
~Chari				E			E
Intangible	assets			21,000		21,000	21,000
Tangible	fixed assets			3,451,167	44,934	3,496,101	3,640,465
Investments				1,320,250		1,320,250	1,270,653
Current assets				391,088	12,132	403,220	281,074
Creditors	less than	1	year	(68,365)		(68,365)	(90,821)
Creditors	greater than		1 year	(398,909)		(398,909)	(392,246)
Net assets				4,716,231	57,066	4,773,297	4,730,125