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||||Page||
|---|---|---|---|---|
|Reference and Administrative
Details||1|to|2|
|Report ofthe|Trustees|3|to|10|
|Report ofthe|Independent
Auditors|11|to|14|
|Consolidated|Statement ofFinancial Activities||||
|Consolidated|Balance Sheet||16||
|Balance Sheet|||17||
|Notes to the Consolidated
Financial Statements||18|to|30|
##
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|ACCOUNTANTS|Magee Gammon|Magee Gammon|||
|---|---|---|---|---|
||Henwood
House||||
||Henwood||||
||Ashford||||
||Kent||||
||TN24 8DH||||
||National
Westminster|||Bank PLC|
||20 High Street||||
||Ashford||||
||Kent||||
||TN24 8SH||||
|INVESTMENT MANAGERS|Investec||||
||30 Gresham|Street|||
||London||||
||EC2V 7QN||||
||BlackRock||||
||12Thmgmorton||Avenue||
||London||||
||EC2N 2DL||||
|SOLICITORS|Furley Page|LLP|||
||39StMargaret's||Street||
||Canterbury||||
||Kent||||
||CTI 2TX||||
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||FOR T|HE YEAR E|NDED 31DECEM|BER2022|||
|---|---|---|---|---|---|---|
||||||31.12.22|31.12.21|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
|||||||as restated|
|||Notes|||||
|INCOME AND ENDOWMENTS FROM|||||||
|Donations
and legacies||3|85,022||85,022|236,435|
|Othertrading
activities
Investment
income
Other income||4
5
6|315,733
41,871
1035||315,733
41,871
1035|196,985
31,448
1036|
|Total|||443 661||443 661|~465 904|
|EXPENDITURE ON|||||||
|Raising funds|||||||
|Other trading
activities||7|109,755||109,755|66,895|
|Charitable
activities|||||||
|Heritage
and Education||8|626,636||626,636|530,110|
|Other|||96706||96706|105865|
|Total|||833097||833097|~702 870|
|Net gains/(losses)
on investments|||38382||~38382|132221|
|NET INCOME/(EXPENDITURE)|||(427,818)||(427,818)|(104245)|
|RECONCILIATION|OFFUNDS||||||
|Total funds brought
forward
Transfer offunds|||4,476,544
64,031|64,031
(64,031)|4,540,575|4,644,820|
|TOTAL FUNDS CARRIED FORWARD|||~4112757|-|~4112757|~4540 575|
##
##
|||||||||31.12.22|31.12.21|31.12.21|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Restricted|Total||Total|
|||||||funds|funds|funds||funds|
||||||||||as restated||
|||||Notes|||||||
|FIXEDASSETS|||||||||||
|Intangible
assets|||||14|21,000||21,000||21,000|
|Tangtl&le assets|||||15|3,095,722||3,095,722|3,306,494||
|Investments|||||16|~1238 111||1 238 111|~1428056||
|||||||4,354,833||4,354,833|4,755,550||
|CURRENT ASSETS|||||||||||
|Stock|||||17|84,652||84,652||83,211|
|Debtors|||||18|22,246||22,246||35,691|
|Cash at bank||||||72409||72409||112433|
|||||||179,307||179,307||231,335|
|CREDITORS|||||||||||
|Amounts
falling due within|one year||||19|(65,683)||(65,683)||(65,349)|
|NET CURRENT ASSETS||||||113624||113624||165986|
|TOTAL ASSETSLESSCURRENT LIABILITIES||||||4,468,457||4,468,457|4,921,536||
|CREDITORS|||||||||||
|Amounts
falling due after more than one year|||||20|(355,700)||(355,700)|(380,961)||
|NET ASSETS||||||4 112757|-|4 112757|4|540 575|
|FUNDS|||||22||||||
|Unrestricted
funds||||||||4,112,757|4,476,544||
|Restricted funds||||||||||64 031|
|TOTAL FUNDS
Tr r
ioc
signed on its behalf by:|wp|d myth|B|4|fT|d
h
'|~4112757
dri,2(/l(prrk3||~4540 575
...
df||
##
##
||||||||||31.12.22|31.12.21|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted||Restricted|Total|Total|
|||||||funds||funds|funds|funds|
|||||||||||as restated|
|||||Notes|||||||
|FIXEDASSETS|||||||||||
|Intangible
assets|||||14|21,000|||21,000|21,000|
|Tangible
assets|||||15|3,094,982|||3,094,982|3,306,048|
|Investments|||||16|~1238 112|||~1238112|~1428056|
|||||||4,354,094|||4,354,094|4,755,104|
|CURRENT ASSETS|||||||||||
|Debtors
Cash at bank|||||18|261,840
~63075|||261,840
~63075|299,139
~65 452|
|||||||324,915|||324,915|364,591|
|CREDITORS|||||||||||
|Amounts
falling due within|one year||||19|(63,925)|||(63,925)|(63,274)|
|NET CURRENT ASSETS||||||260 990|||~260 990|~301317|
|TOTAL ASSETSLESSCURRENT LIABILITIES||||||4,615,084|||4,615,084|5,056,421|
|CREDITORS|||||||||||
|Amounts
falling due alter more than one year|||||20|(355,700)|||(355,700)|(380,961)|
|NET ASSETS||||||~4259 384||-|4259 384|~4675 460|
|FUNDS|||||22||||||
|Unrestricted
funds
Restricted funds|||||||||4,259,384|4,611,429
~64 031|
|TOTAL FUNDS|||||||||~459384|~4675 460|
|Th
B
hd
signed on its behalf by:|Bp|dhyd|B|d|TT|d
h|Ay|h|gryd(&23|d|
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|DONATIONS
AND LEGACIES|||
|---|---|---|
||31.12.22|31.12.21|
|||as restated|
|Donations|32,593|111,097|
|Collection boxes|15,443|10,081|
|Bequests and legacies|28,501||
|Grants|6,000|115257|
|Sponsorship|~2485||
||~85 022|~236 435|
##
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##
|4.|OTHER|TRADING ACTIVITIES|||||
|---|---|---|---|---|---|---|
|||||31.12.22||31.12.21|
|||||||as restated|
||Shop income|||203,402||139,733|
||The Scramble Experience|||33,923||29,909|
||Friends ofthe Few Association|||14,598||16,142|
||Car park|||14,997||10,246|
||Functions|||~48|813|955|
|||||315|733|196985|
|5.|INVESTMENT INCOME||||||
|||||31.12.22||31.12.21|
|||||||as restated|
||Income trom listed investments|||41,866||30,512|
||Deposit account interest||||5|936|
|||||~41|871|~31 448|
|6.|OTHER|INCOME|||||
|||||31.12.22||31.12.21|
|||||||as restated|
|||||||f.|
||Royalties|and licence fees|||202|436|
||Other income||||833|600|
|||||~1035||~1036|
|7.|RAISING FUNDS||||||
|||||31.12.22||31.12.21|
|||||||as restated|
||Other trading activities:||||||
||Shop purchases|||1~09|755|~66 895|
|8.|CHARITABLE ACTIVITIES COSTS||||||
|||||Support|||
||||Direct|cosm|(see||
||||Costs|note|8)|Totals|
|||||f,|||
||Heritage|and Education|626 636|~96|706|~723 342|
##
##
|SUPPORT|COSTS|||||
|---|---|---|---|---|---|
|||||Governance||
||||Other|costs|Totals|
|Resources expended|||~77 822|18884|~96 706|
|Support costs, included||in the above, are as follows:||||
|Other||||||
|||||31.12.22|31.12.21|
||||||as restated|
|||||Other||
|||||resources|Total|
|||||expended|activities|
|General costs||||48,686|62,965|
|Motor and travel||||9,104|5,395|
|Legal and professional||||945|3,038|
|Bank interest|aud charges|||~19087|~19 223|
|||||77 822|90621|
|Governance|costs|||||
|||||31.12.22|31.12.21|
||||||as restated|
|||||Other||
|||||resources|Total|
|||||expended|activities|
|Auditors'
remuneration||||3,799|2,595|
|Bookkeeping|costs|||~15085|~12649|
|||||~18 884|~15 244|
##
##
##
##
##
|Remuneration|wss paid as follows:|||
|---|---|---|---|
|||2022|2021|
|Wages||176,048|125,146|
|Social security
Pension costs|cosm|8,967
~3540|5,115
1 003|
|||188555|131264|
##
|The pension cost in the year amounted tof3,540 (2021 —$1,003).|The pension cost in the year amounted tof3,540 (2021 —$1,003).|The pension cost in the year amounted tof3,540 (2021 —$1,003).|||
|---|---|---|---|---|
|COMPARATIVES FOR THE STATEMENT OFFINANCIAL ACI'IVITIES|||||
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||||as restated|
|INCOME AND ENDOWMENTS FROM|||||
|Donations
and legacies||218,715|17,720|236,435|
|Other trading
activities||196,985||196,985|
|Investment
income
Other income||31,448
~1036||31,448
~1036|
|Total||448 184|~17720|465 904|
|EXPENDITURE ON|||||
|Raising funds|||||
|Other trading
activities||66,895||66,895|
|Charitable
activities|||||
|Heritage
and Education||519,355|10,755|530,110|
|Other||105 865||~105 865|
|Total||~692 115|~10755|~702 870|
|Net gains on investments||132721||132721|
|NET INCOME/(EXPENDITURE)||(I11,210)|6,965|(104245)|
|RECONCILIATION|OF FUNDS||||
|Total funds brought
forward||4,587,754|57,066|4,644,820|
|TOTAL FUNDS CARRIED FORWARD||~4476 544|~64 031|~4540 575|
##
##
##
##
|INTANGIBLE FIXEDASSETS||
|---|---|
||Trademarks|
||f,|
|COST||
|At 1 January 2022 aud 31December 2022|21 000|
|NET BOOKVALUE||
|At 31December 2022|21 000|
|At 31December 2021|21 000|
##
|TANGIBLE FIXEDASSE|TS|||||
|---|---|---|---|---|---|
||||Hurricane|Fixtures,||
||Land and|Memorial|and|fittings||
|GROUP|buildings|wall|Spitfire|6? equipment|Totals|
||||8|||
|COST||||||
|At 1 January 2022
Additions|4,470,440|146,111|49,772|193,265
~12021|4,859,588
~12 021|
|At 31December 2022|4470 440|146 111|49 772|~205
86|~4871 609|
|DEPRECIATION||||||
|At I January 2022
Charge for year|1,347,921
~201 086|30,570
~1572|46,229
2266|128,404
~17839|1,553,124
~222 763|
|At 31December 2022|~1549007|~32 142|48 495|146243|I 775 887|
|NET BOOKVALUE||||||
|At 31December 2022|2 921433|113969|~1277|59043|3095 722|
|At 31December 2021|~3122519|~115541|~3543|~64 861|~3306 464|
##
##
|15.|TANGIBLE FIXEDASSETS||||||
|---|---|---|---|---|---|---|
|||||Hurricane|Fixtures,||
|||Land and|Memorial|and|Mings||
|||buildings|wall|Spitfire|&equipment|Totals|
|||8|||8||
||COST||||||
||At I January 2022
Additions|4,470,440|146,111|49,772|191,950
~ll 481|4,858,273
11481|
||At 31December 2022|~4470 440|~146 111|~49 772|203 431|~4869754|
||DEPRECIATION||||||
||At 1 January 2022
Charge for year|1,347,921
~201 086|30,570
~1572|46,229
2 266|127,505
~17623|1,552425
222 547|
||At 31December 2022|~1549007|~32 142|~48 495|145 128|~1774772|
||NET BOOKVALUE
At 31December 2022|~2921 433|~113969|~1277|58 303|~3094 982|
||At 31December 2021|3 122519|~115541|3 543|64445|~3306048|
|16.|FIXEDASSETINVESTMENTS||||||
||GROUP AND~|||Shares in
group
undertakings|Listed
investments|Totals|
|||||||f,|
||MARKET VALUE||||||
||At 1 January 2022||||1,428,055|1,428,056|
||Additions||||383,677|383,677|
||Disposals
Revaluations||||(410,814)
~16266|(410,814)
~162807)|
||At 31December 2022||||I 238 111|~1238 112|
||NET BOOK VALUE||||||
||At 31December 2022|||1|~138 111|~1238 112|
||At 31December 2021|||I|~1428055|I 428 056|
##
|||NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31DECEMBER2022||||
|---|---|---|---|---|---|
|17.|STOCK|||||
||||31.12.22||31.12.21|
||GROUP||||as restated|
||||||g|
||Stocks||84|652|~83 211|
|18.|DEBTORS:AMOUNTS|FALLING DUE WITHIN ONE YEAR||||
||||31.12.22||31.12.21|
||||||as restated|
||GROUP|||||
||Trade debtors||1,432||106|
||Other debtors and prepayments||~20|814|~35 585|
||||22|46|~35 691|
||CHARITY|||||
||Trade debtors||6,679||42,066|
||Other debtors and prepayments||20,814||35,023|
||Amounts
due trom group|||||
||undertakings||~234|347|222 050|
||||261|840|~299 139|
|19.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||||
||||31.12.22||31.12.21|
||||||as restated|
||GROUP|||||
||Bank loans and overdratts|(see note 19)|23,960||23,000|
||Trade creditors||17,441||16,826|
||Social security and other taxes||3,670||4,106|
||Other creditors and accruals||~20|612|21417|
||||65|683|~63 349|
||CHARITY|||||
||Bank loans and overdrafts|(see note 19)|23,960||23,000|
||Trade creditors||17,884||16,826|
||Social security and other taxes||3,471||4,106|
||Other creditors and accruals||~18|610|19342|
||||~63|925|~63 274|
|20.|CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR|||||
||||31.12.22||31.12.21|
||GROUP AND CHARITY||||as restated|
||||8|||
||Bank loans (seenote 19)||~355|700|380961|
##
##
##
##
|LOANS||||||
|---|---|---|---|---|---|
|An analysis ofthe|maturity of|loans is given below:||31.12.22|31.12.21|
||||||as restated|
|Bank loans falling|due within one year on demand|||23 960|~23 000|
|Bank loans falling|due between|one and two years||~26 000|~27 600|
|Bank loans falling|due betwe two and five years|||~88 000|~85 400|
|Bank loans falling|due in more|than five years: Repayable|by instalments|241,700|267,961|
##
|The
initial
bank
loan of $500,000 was for 19|The
initial
bank
loan of $500,000 was for 19|years|and
is repayable|and
is repayable|by monthly|instalments.|There|was a 5-year|
|---|---|---|---|---|---|---|---|---|
|commitment
period, interest for the 5-year period||is at|base rate +2.33%.Jhe lender|||maintains
a fixed charge over The|||
|Wing, Battle ofBritain Memorial,|New Dover Road, Capel-le-Feme,|||Folkestone,
Kent,||CT18 7JJ as|security for the loan||
|balance.|||||||||
|MOVEMENT IN FUNDS|||||||||
||||||Net||||
||||||movement|Transfer||At|
||||At 1.1.22||in funds|offunds||31.12.22|
|GROUP|||||||||
|Unrestricted
funds|||||||||
|General fund|||1,778,834||(226,506)|2,560,429|4,112,757||
|Visitor Centre Fund|||2,501,526||(197,474)|(2,304,052)|||
|Friends ofThe Few Association|||107,748|||(107,748)|||
|Hurricane
Fund
Memorial
Wall Fund||33,582
~54 854||(2,266)
~3572||(31,316)
~53282|||
||||4,476,544||(427,818)|64,031|4,112,757||
|CHARITY|||||||||
|Unrestricted
funds|||||||||
|General fund|||1,913,719||(214,764)|2,560,429|4,259,384||
|Visitor Centre Fund|||2,501,526||(197,474)|(2,304,052)|||
|Friends ofThe Few Association|||107,748|||(107,748)|||
|Hurricane
Fund
Memorial
Wall Fund|||33,582
54 854|(2,266)
~7572||(31,316)
~53
82|||
||||4 611429|~416076||64031|4259384||
|GROUP AND CHARITY|||||||||
|Restricted funds|||||||||
|Biggin Kll|||1,963|||(1,963)|||
|The Wing Roof
The Wing Lights||39,668
~22 400||||(39,668)
~22 400|||
##
##
##
|Net movement||in funds, included|in the above are as follows:||||
|---|---|---|---|---|---|---|
||||Incoming|Resources|Gains and|Movement|
|GROUP|||resources|expended
f,|losses|in funds
f|
|Unrestricted|funds||||||
|General fund|||443,661|(833,097)|(38,382)|(427,818)|
|Visitor Centre|Fund||||||
|Hurricane
Fund|||||||
|Memorial
Wall||Fund|||||
||||~443 661|833097|38382|(4427 818|
|TOTAL FUNDS|||~443 661|833097|~38 382)|~427 818)|
||||Incoming|Resources|Gains and|Movement|
||||resources|expended|losses|in funds|
|CHARITY|||||||
|Unrestricted|funds||||||
|General fund|||319,196|(696,890)|(38,382)|(416,076)|
|Visitor Centre|Fund||||||
|Hurricane
Fund|||||||
|Memorial
Wall||Fund|||||
||||~319196|~696 890|38382|41607|
|TOTAL FUNDS|||~319196|~696 890)|38382|~416076)|
##
##
##
|Cornparatives
for movement
in funds||||
|---|---|---|---|
|||Net||
|||movement|At|
||At 1.1.21|in funds|31.12.21|
|GROUP|8|||
|Unrestricted
funds||||
|General fund|1,684,985|93,849|1,778,834|
|Visitor Centre Fund|2,702,525|(200,999)|2,501,526|
|Friends ofThe Few Association|107,748||107,748|
|Hurricane
Fund
Memorial
Wall Fund|36,070
~56 426|(2,488)
~1772|33,582
~54 854|
||~4587 754|111210|~4476 544|
|CHARITY||||
|Unrestricted
funds||||
|General fund|1,813,463|100,256|1,913,719|
|Visitor Centre Fund|2,702,525|(200,999)|2,501,526|
|Friends ofThe Few Association|107,748||107,748|
|Hurricane
Fund
Memorial
Wall Fund|36,070
56 426|(2,488)
~1572)|33,582
54 854|
||4716
32|104803|4611429|
|GROUP AND CHARITY||||
|Restricted funds||||
|Edggin Hill|1,963||1,963|
|The Wing Roof
The Wing Lights|45,334
~9769|(5,666)
~12 631|39,668
~22 400|
||57066|6965|64031|
|Net movement|in funds, included
in the|above are as follows:||||
|---|---|---|---|---|---|
|||Incoming|Resources|Gains and|Movement|
|||resources|expended|losses|in funds|
|GROUP||6||||
|Unrestricted|funds|||||
|General fund||448,184|(487,056)|132,721|93,849|
|Visitor Centre|Fund||(200,999)||(200,999)|
|Hurricane
Fund
Memorial
Wall Fund|||(2,488)
~1572)||(2,488)
~1572|
|||~448 184|692 115|~132 721|111210|
##
##
##
|MOVEMENT IN FUNDS - continued|||||
|---|---|---|---|---|
||Incoming|Resources|Gains and|Movement|
||resources|expended|losses|in funds|
|CHARITY|||f.||
|Unrestricted
funds|||||
|General fund|366,717|(399,182)|132,721|100,256|
|Visitor Centre Fund||(200,999)||(200,999)|
|Hurricane
Fund
Memorial
Wall Fund||(2,488)
~1572||(2,488)
~1572|
||366717|604 241|~132721|104803|
|GROUP AND CHARnT|||||
|Restricted funds|||||
|The Wing Roof
The Wing Lights|~17 720|(5,666)
~5089||(5,666)
~12 631|
||~17 720|10755||6965|
##