## 

||Page|
|---|---|
|Report ofthe Trustees<br>Independent<br>Examiner's<br>Report|3<br>19|
|Statement of Financial Activities|21|
|Balance Sheet|22|
|Cash Flow Statement|24|
|Notes to the Cash Flow Statement|25|
|Notes to the Financial Statements|26|
|Detailed Statement<br>of Financial Activities|37|





## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 



## 



## 



## 

## 

## 

## 

## 

## 



## 

## 



## 

## 

## 

## 

## 

## 

## 



|Movement<br>on Reserves||||
|---|---|---|---|
|||31 Dec 23|31 Dec 22|
||||f|
|General Reserve||429,833|440,111|
|The movement<br>in the year is represented<br>by Net Income||||
|off140,812Less E154,419transferred<br>to the||||
|Development<br>Reserve and f3,329transferred<br>from|the|||
|fixed asset reserve.||||
|Investment<br>Reserve||1 000000|1000000|
|There has been no movement<br>during the year||||
|Development<br>Reserve||341,280|149,747|
|Grants and Donations<br>received amounted<br>to 2212,322||||
|including<br>Brigade ofGurkhas 2164,156, National<br>Lottery||||
|Heritage<br>Fund F25,666, Kai Tak Ball E22,500. In addition,||||
|f128,522 (net of investment<br>loss) was transferred<br>from||||
|the Friends'<br>Fund (see below). Charges to the reserve of||||
|f148,655 comprise 294,262 ofcapital additions<br>and<br>f54,393consulting<br>and related work in connection<br>with||||
|Project Kaida.||||
|Fixed Asset Reserve||90,934|0|
|Fixed Asset Reserve comprises f94,262 ofcapital||||
|additions<br>related to Kaida less depreciation<br>ofE3,328.||||
|Friends'<br>Fund|||131,705|
|Historically<br>the Friends'<br>Fund has been designated|by|||
|Trustees for the specific purpose of replenishing<br>the||||
|Museum's<br>displays<br>and archives.<br>During the year the||||
|Trustees approved<br>the transfer ofthis fund to the||||
|Development<br>Reserve.||||
|Restricted reserve||||
|The Museum<br>credited grants from National<br>Lottery||||
|Heritage<br>Fund of825,666 1n relation to the development||||
|phase ofKaida and [f33,652] as contribution<br>to its||||
|incremental<br>ongoing costs (Full Cost Recovery). All||||
|related expenditure<br>was incurred<br>in the year and so|there|||
|is no balance on this reserve as at 31stDecember 2023.||||



## 



## 


## 

## 




## 

## 

## 



|for the Year Ended 31|stD|ec|ember|2023|||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||Total|Total|
|||||Notes|funds<br>f|fundsf|
|INCOME AND ENDOWMENTS<br>Donations<br>and legacies||FROM||2|73,351|54,138|
|Charitable<br>activities<br>Grants received|||||331,483|203,456|
|Other trading activities<br>Gurkha<br>Museum<br>Enterprises<br>Investment<br>income|trading||'<br>3<br>activities 3<br>4||74,899<br>64,856<br>32,229|128,930<br>28,994|
|Total|||||576818|415518|
|EXPENDITURE ON|||||||
|Charitable<br>activities<br>Support services<br>Trading costs<br>Gurkha<br>Museum<br>Enterprises|trading||costs||454,280<br>48,776<br>17,158|464,292<br>61,903|
|Total|||||520,214|526,195|
|Net gains/(losses)<br>on investments|||||84 2DD|J2D5 607)|
|NET INCOME/(EXPENDITURE)|||||140 812|(316284)|
|RECONCILIATION<br>OF FUNDS<br>Total funds<br>brought<br>forward|||||1,721,234|2,037,518|
|TOTAL FUNDS CARRIED|FORWARD||||1 862 046|1,721 254|





|||2023|2022|
|---|---|---|---|
|||Total|Total|
|||funds|funds|
||Notes||E|
|FIXEDASSETS<br>Tangible assets<br>Investments|10<br>11|144,520<br>~1465,874|53,220<br>~1555950|
|||1,610,394|1,609,170|
|CURRENT ASSETS<br>Stocks<br>Debtors<br>Cash at bank and in hand|12<br>13|25,9'lo<br>91,884<br>~165969|29,450<br>39,357<br>~51 298|
|||283,743|120,105|
|CREDITORS<br>Amounts<br>falling due within one year|14|(32,091)|{8,041)|
|NET CURRENT ASSETS||~251 652||
|TOTAL ASSETSLESSCURRENT<br>UABIUTIES||1,862,046|1,721,234|
|NETASSETS||~1862046|1721,2S4|
|FUNDS|15|||
|Unrestrhded<br>funds<br>General fund<br>Investments<br>Friends ofthe Museum<br>Development<br>fund<br>Fixed Asset Reserve||423,322<br>1,000,000<br>347,790<br>~90 934|440,111<br>'l,000,000<br>131,375<br>149,748|
|TOTALFUNDS||~1,862048|~1,721234|



## 



|||2023|2022|
|---|---|---|---|
|||Total|Total|
|||funds|funds|
||Notes|||
|FIXEDASSETS||||
|Tangible assets<br>Investments|10<br>11|144,520<br>1~465874|53,220<br>1 5~55950|
|||1.810.394|1,809,170|
|CURRENT ASSETS<br>Stocks<br>Debtors<br>Cash at bank and in hand|12<br>13|87,817<br>~133100|29,450<br>39,357<br>~51 298|
|||220,917|120,105|
|CREDITORS<br>Amounts<br>falling due within one year|14|(16,983)|(8,041)|
|NET CURRENT ASSETS||203g54|112084|
|TOTAL ASSETSLESSCURREltT<br>LIASILITIES||1,814,348|1,721,234|
|NETASSETS||~1814348|~1721,234|
|FUNDS|18|||
|Unrestricted<br>funds<br>General fund<br>Investments<br>Friends ofibe Museum<br>Devektpment<br>fund<br>Fixed Asset Reserve||375,624<br>1,000,000<br>347,790<br>~90 934|440,111<br>1,000,000<br>131,375<br>149,748|
|TOTAL FUNDS||~1814348|~1721 234|



## 




|Consolidated<br>Cash Flow State<br>for the Year Ended 31stDece|m<br>m|ent<br>ber 2023|||
|---|---|---|---|---|
||||2023|2022|
|||Notes|||
|Cash flows from operating<br>activities<br>Cash generated<br>from operations|||40,694||
|Net cash provided<br>by/(used<br>in) operating||activities|40,694||
|Cash flows from investing<br>activities<br>Purchase oftangible fixed assets<br>Purchase offixed asset investments<br>Sale offixed asset investments|||(95,466)<br>(30,759)<br>200,202|(45,883)<br>(28,830)<br>93,793|
|Net cash provided<br>by investing<br>activities|||I<br>73977|19,080|
|Change<br>in cash and cash equivalents<br>the reporting<br>period|in||114,671|(117,330)|
|Cash and cash equivalents<br>at the<br>beginning<br>ofthe reporting<br>period|||51,298|168,628|
|Cash and cash equivalents<br>at the end <br>the reporting<br>period|of||165,969|51,298|





## 

|RECONCILIATION<br>OF NET INCOME/(EXPE<br>ACTIVITIES|NDITURE)<br>TO NET CAS|H FLOW FROM|OPERATING|
|---|---|---|---|
|||2023<br>f|2022<br>f|
|Net income/(expenditure)<br>for the reporting<br>Statement of Financial Activities)|period (as per the|140,812|(316,284)|
|Adjustments<br>for:<br>Depreciation<br>charges<br>(Gain)/losses<br>on investments<br>Realised (Gains)/Losses<br>on investments<br>Decrease/(increase)<br>in stocks<br>Increase<br>in debtors<br>Increase<br>in creditors||4,166<br>(84,208)<br>4,841<br>3,540<br>(45,566)<br>17,109|2,464<br>205,607<br>6,207<br>(5,970)<br>(14,933)<br>j13,501)|
|Net cash provided<br>by/(used<br>in) operations||40,694|(136,410)|



## 

## 

|ANALYSIS OF C|HANGES<br>IN NET FUND|S|||
|---|---|---|---|---|
|||At 1.1.23|Cash flow|At 31.12.23|
||||E|E|
|Net cash<br>Cash at bank and|in hand|51,298|114,671|165,969|
|||51,298|114,671|165,969|
|Total||51,298|114,671|165,969|





## 

## 

## 

## 

## 



## 

## 



## 

## 

## 

|DONATIONS AND LEGACI|ES||||
|---|---|---|---|---|
||||2023|2022|
||||Group|Group|
||||K|6|
|Donations|||59,318|24,586|
|Gift aid<br>Legacies<br>Friends Subscriptions|||2,145<br>11,888|752<br>19,707<br>9,093|
||||73,351|54,138|
|OTHER TRADING ACTIVITIES|||||
||||2023|2022|
||||Group<br>6|Group<br>6|
|Admissions<br>Shop income<br>Lectures<br>Bar Sales<br>Gallery<br>Hire<br>Archive<br>&Research|||18,243<br>11,264<br>16,822<br>2,700<br>11,383<br>6,487|14,231<br>58,170<br>14,088<br>5,180<br>28,876<br>6,308|
|Burma Book Project<br>Other income|||8,000|2,077|
|Gurkha<br>Museum<br>Enterprises|trading|activities|64,856||
||||139,755|128,930|



## 

## 

## 

|||||2023|2022|
|---|---|---|---|---|---|
|||||Group|Group|
|||||E||
|Dividends<br>and interest||||32,229|28,994|
|INCOME FROM||CHARITABLE ACTIVITIES||2023|2022|
|||||Group|Group|
|Grants|||Activity<br>Grants received|8<br>331,483|8<br>203,456|
|Grants received,||included|in the above, are as follows:|2023|2022|
|||||Group|Group|
||||||F|
|Other grants<br>Salary grant<br>HQBG grant|in aid|||229,580<br>51,903<br>50,000|114,457<br>38,999<br>50,000|
|||||331,483|203,456|





## 

## 

|||||||Support||
|---|---|---|---|---|---|---|---|
||||||Direct|costs (see||
||||||Costs<br>6|note 7)<br>f|Totals<br>f|
|Support <br>Trading <br>Gurkha|services<br> costs<br>Museum|Enterprises|trading|costs|393,804<br>48,776<br>17,158|60,476|454,280<br>48,776<br>17,158|
||||||459,738|60,476|520,214|



## 

## 

## 

## 

|for the ye|ar ended 31st December 2022.|||
|---|---|---|---|
|Trustees'|expenses|2023|2022|
|||Group|Group|
|||6|F|
|Trustees'|expenses|3,989|4,601|



## 

## 

|STAFF COSTS (GROUP)|||
|---|---|---|
||2023|2022|
||Group|Group|
||6||
|Wages and salaries<br>Social securiiy costs<br>Pension costs|258,075<br>19,762<br>11,372|240,083<br>19,612<br>11,233|
||289,209|270,928|



|as follows:||
|---|---|
|2023|2022|
|Group|Group|
|9|g|





## 

## 

## 

|TANGIBLE FIXEDASSETS(GROUP &CHARITY|)|||
|---|---|---|---|
||Fixtures|||
||and|Computer||
||fittings<br>f|equipment<br>f|Totals|
|COST||||
|At 1st January 2023<br>Additions|68,640<br>95,466|10,647|79,287<br>95,466|
|At 31st December 2023|164,106|10,647|174,753|
|DEPRECIATION||||
|At 1st January 2023<br>Charge for year|23,938<br>3,101|2,129<br>1,065|26,067<br>4,166|
|At 31stDecember 2023|27,039|3,194|30,233|
|NET BOOK VALUE<br>At 31st December 2023|137,067|7,453|144,520|
|At 31st December 2022|44,702|8,518|53,220|
|FIXEDASSET INVESTMENTS (GROUP)||||
|||Cash and||
||Listed|settlements||
||investments<br>f.|pending<br>f|Totals<br>f|
|MARKET VALUE||||
|At 1stJanuary 2023<br>Additions|1,447,309<br>27,737|108,641<br>3,022|1,555,950<br>30,759|
|Disposals<br>Revaluations|(155,043)<br>84,208|(50,000)|(205,043)<br>84,208|
|At 31st December 2023|1,404,211|61 663|1,465,874|
|NET BOOK VALUE<br>At 31st December 2023|1 404 211|61,663|1,465,874|
|At 31st December 2022|1,447 3D9|108,641|1.555,95D|





## 

|Cost or valuation<br>at 31stDecember 2023 is|represente|d|by:|||
|---|---|---|---|---|---|
|||||Cash and||
||||Listed|settlements||
||||investments<br>E|pending<br>f|Totals<br>E|
|Valuation<br>in 2023|||1,4D4,211|~61 663|1 465,874|
|FIXEDASSET INVESTMENTS (CHARITY)||||||
||Shares|in||Cash and||
||gi'oup||Listed|settlements||
||undertakings|||investments|pending|
||||Totals|||
||E||E|||
|MARKET VALUE||||||
|At 1"January 2023<br>Additions|100||1,447,309<br>27,737|108,641<br>3,022|1,555,950<br>30,859|
|Disposals<br>Revaluations|||(155,043)<br>84,208|(50,000)|(205,043)<br>84,208|
|At31"December 2023|100||~316284|61,663|1 465974|
|NET BOOK VALUE<br>At 31"December 2023|100||1,404,211|61,663|1,465,974|
|At31"December 2022|||1 447,3DD|108641|1 555,950|



## 

## 

|Gurkha Mu|seum<br>En|terprises<br>Limited|||
|---|---|---|---|---|
|Nature of|business:|GiR shop|||
|Class ofshares||% holding|||
|Ordinary||100.00|||
||||2023|2022|
||||6|6|
|Aggregate<br>Turnover<br>Profit/(loss)|capital and reserves<br>for the year||100<br>64,856<br>~47698||





## 

|STOCKS||||||||
|---|---|---|---|---|---|---|---|
|||||2023|2023|2022|2022|
|||||Group<br>f|Charity|Group|Charity<br>E|
|Stocks||||25,910||29,450|29,450|
|DEBTORS:AMOUNTS||FALLING DUE WITHIN ONE YEAR||||||
|||||2023|2023|2022|2022|
|||||Group<br>f.|Charity<br>f|Group|Charity<br>f|
|Trade debtors<br>Other debtors||||4,005<br>70|424<br>70|3,296<br>70|3,296<br>70|
|VAT<br>Prepayments|and accrued||income|31,380<br>56,409|31,380<br>55,943|35,991|35,991|
|||||91,S64|S7,S17|39,357|39,357|
|CREDITORS:|AMOUNTS||FALLING DUE WITHIN ONE YEAR|||||
|||||2023|2023|2022|2022|
|||||Group<br>f|Charity<br>f.|Group<br>f|Charity<br>f|
|Trade creditors<br>Taxation and social security<br>Other creditors||||10,921<br>18,050<br>3,120|2,734<br>11,109<br>3,120|3,350<br>1,781<br>2,910|3,350<br>1,781<br>2,910|
|||||32,091|16,963|8,041|8,041|



## 

## 



## 

|MOVEMENT<br>IN FUNDS (GRO|UP) -continued|||||
|---|---|---|---|---|---|
||||Nei|Transfers||
||||movement|between|At|
|||At 1.1.23<br>f|in funds<br>f|funds<br>f|31.12.23<br>f|
|Unrestricted<br>funds||||||
|General fund<br>Investments|440,111<br>1,000,000||(16,789)||423,322<br>1,000,000|
|Friends ofthe Museum<br>Development<br>fund<br>Fixed Asset Reserve||131,375<br>149,748|157,601|(131,375)<br>40,441<br>90934|347,790<br>90,934|
|TOTAL FUNDS|1,721,234||140812||1.862 046|



|Net movement|in funds, included|in the above are as follo|ws:|||
|---|---|---|---|---|---|
|||Incoming|Resources|Gains and|Movement|
|||resources<br>f|expended<br>f|losses<br>f|in funds|
|Unrestricted|funds|||||
|General fund||364,496|(465,493)|84,208|(16,789)|
|Development|fund|212,322|~54,721)||157,601|
|TOTAL FUNDS||576,818|(520,214)|84,208|140,812|



## 

|Comparatives|for movement<br>in|funds (Group)||||
|---|---|---|---|---|---|
||||Net|Transfers||
||||movement|between|At|
|||At 1.1.22<br>f|in funds<br>f|funds|31.12.22<br>f|
|Unrestricted<br>General fund|funds|699,432|(305,203)|45,882|440,111|
|Investments<br>Friends of the Museum<br>Designated<br>fund||1,000,000<br>131,375<br>206,711|(11,081)|(45,882)|1,000,000<br>131,375<br>149,748|
|TOTAL FUNDS||2,037.818|~3162847|-|1,721 234|





## 

||Comparative|net movement<br>in funds,<br>inc|luded<br>in the above|are as follows:|||
|---|---|---|---|---|---|---|
||||Incoming|Resources|Gains and|Movement|
||||resources<br>6|expended<br>K|losses<br>f|in funds<br>f|
||Unrestricted|funds|||||
||General fund||299,158|(425,438)|(178,923)|(305,203)|
||Development|fund|116,360|(100,757)|~26,684)|~11,081)|
||||415,518|(526,195)|(205,607)|(316,284)|
||TOTAL FUNDS||415,518|(526,195)|(205,607)|(316,284)|
|16.|MOVEMENT|IN FUNDS (CHARITY)|||||
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.1.23<br>6|in funds<br>f|funds|31.12.23<br>F|
||Unrestricted|funds|||||
||General fund<br>Investments||440,111<br>1,000,000|(16,789)||423,322<br>1,000,000|
||Friends ofthe Museum||131,375||(131,375)||
||Development<br>fund<br>Fixed Asset Reserve||149,748|157,801|40,441<br>90,934|347,790<br>90,934|
||TOTAL FUNDS||1,721 264|146,812||1,862,846|



|Net movement|in funds,<br>included|in the above are as follo|ws:|||
|---|---|---|---|---|---|
|||Incoming|Resources|Gains and|Movement|
|||resources|expended|losses|in funds|
|||F||||
|Unrestricted|funds|||||
|General fund||364,496|(465,493)|84,208|(16,789)|
|Development|fund|212,322|~54,721)||157,601|
|TOTAL FUNDS||576,8'I8|(520,214)|84,208|140,812|





## 

## 

|Comparatives|for movement<br>in|funds (Charity)||||
|---|---|---|---|---|---|
||||Net|Transfers||
||||movement|between|At|
|||At 1.1.22|in funds|funds|31.12.22|
||||||E|
|Unrestricted|funds|||||
|General fund<br>Investments<br>Friends ofthe|Museum|699,432<br>1,000,000<br>131,375|(305,203)|45,882|440,111<br>1,000,000<br>131,375|
|Designated<br>fund||206,711|(11,081)|(45,882)|149,748|
|TOTAL FUNDS||2837 818|~3182847|.|1 721,234|



|Comparative|net movement<br>in fu|nds, included<br>in the above|are as follows|:||
|---|---|---|---|---|---|
|||Incoming|Resources|Gains and|Movement|
|||resources<br>f|expended<br>f|losses|in funds<br>6|
|Unrestricted|funds|||||
|General fund<br>Development|fund|299,158<br>116,360|(425,438)<br>(100,757)|(178,923)<br>~26,684)|(305,203)<br>~11,081)|
|||415,518|(526,195)|(205,607)|(316,284)|



## 

## 

## 



## 



||||2023|2022|
|---|---|---|---|---|
||||Group|Groupf|
|INCOME AND ENDOWMENTS|||||
|Donations<br>and legacies<br>Donations|||59,318|24,586|
|Gift aid<br>Legacies<br>Friends Subscriptions|||2,145<br>11,888|752<br>19,707<br>9,093|
||||73,351|54,138|
|Other trading activities<br>Admissions|||18,243|14,231|
|Shop income<br>Lectures|||11,264<br>16,822|58,170<br>14,088|
|BarSales<br>Gallery<br>Hire<br>Archive<br>&Research|||2,700<br>11,383<br>6,487|5,180<br>28,876<br>6,308|
|Burma Book Project<br>Other income|||8,000|2,077|
|Gurkha<br>Museum<br>Enterprises|trading|activities|64,856||
||||139,755|128,930|
|Investment<br>income|||||
|Dividends<br>and interest|||32,229|28,994|
|Charitable activities|||||
|Grants|||331,483|203,456|
|Total incoming resources|||576,818|415,518|
|EXPENDITURE|||||
|Charitable activities|||||
|Support Services<br>Trading costs<br>Gurkha<br>Museum<br>Enterprises|trading|costs|393,804<br>48,776<br>17,158|390,470<br>61,903|
||||459,738|452,373|
|Support costs|||||
|Governance costs|||||
|Trustees' expenses<br>Office and Administration|||3,989|4,601<br>14,656|
|Friends AGM|||1,630|1,180|
|Proportion<br>of Directors salary<br>Audit &Accountancy|||32,500<br>22,357|32,500<br>20,885|
||||60,476|73,822|





|||2023|2022|
|---|---|---|---|
|||Group|Group|
|Total resources expended||520,214|526,195|
|Net income/(expenditure)<br>and losses|before gains|56,604|(110,677)|
|Realised recognised<br>gains and losses<br>Realised gains/(losses)<br>on fixed asset investments||~4,841)|~6,207)|
|Net income/(expenditure)||51,763||