CHARITY REGISTRATION NUMBER: 1171026 The Museum of Military Medicine Trust Financial Statements 31 March 2024
The Museum of Military Medicine Trust Financial Statements Year ended 31 March 2024 Page Trustees, annual report Independent auditor's report to the member Statement of financial activities Statement of financial position 10 Notes to the financial statements
The Museum of Military Medicine Trust Trustees, Annual Report Year ended 31 March 2024 The trustees present their report and the financial statements of the charity for the year ended 31 March 2024. Reference and administrative details Registered charity name The Museum of Military Medicine Trust Charity registration number 1171026 Principal office Keogh Barracks Ash Vale Aldershol GU12 5RQ The trustees J Baker Col A Boreham Maj M Ellis Col P Hubbard Prof M Harrison Mr P Nickson Dr C Scott D Cannon R Good LLB Col G Johnson Maj D McTaggart IResigned 1 July 20231 {Resigned 1 February 20241 Audltor CA Ltd Chartered accountants & statutory auditor 269 Farnborough Road Farnborough Hampshire GU14 7LY structure. governance and management The Museum of Militsry Medicine Trust was established as 'The Army Medical Servi$ Museum Trust. on 11 May 1999. The new charity brought together the collections of the previously separate RAMC Historical Museum, Royal Army Veterinary Corps Museum, Royal Army Dental Corps Museum and Queen Alexandra's Royal Army Nursing Corps Museum.
The Museum of Military Medicine Trust Trustees, Annual Report (conllnuedj Year ended 31 March 2024 Objectives and activities The Board of Trustees manages the charity, and is responsible for ils assets and the charity's strategic direction. The Board has two ex-officio positions.. Colonel AMS and Co-ordinating AMS Regimentsl Secretary, the rest of the Iruslees are appointed. The Board of Trustees meets four limes each year. The Iruslees are collectively responsible for the Board's decisions. A total of £89,992 was reiVed in Grant in Aid during financial year 202312024 towards the salaries of the Director, Curator, and Assistant Curator. The Trust also employed one full-lime Retail Assistant. Beleen them they carry out the Trust's day-lo-day work. Utilities, rent and rates are provided from public funds. A group of volunteers provide regular support to the museum, who undertook approximately 1,600 hours of work for the museum belween them this last FY, or the equivalent of £24,600. A Friends organisation also supports the museum, both financially and practically. Achievements and performance The museum commemorated the 125th Anniversary of the Royal Army Medical Corps in June 2023 with a specially organised study day held at the National Army Museum, with over 200 attendees and a Royal visit by the Duke of Gloucester. A temporary exhibition on the Corps history was launched at the same time. A new series of podcasts on the Field Hospital". past, present, and future was launched in autumn 2023, featuring personnel from 22 Field Hospital at Keogh Barracks and 203 (Welsh) Field Hospital in in Cardiff. More than a hundred group and research visits have tsken pla through the year and museum staff have delivered off-site talks. Items from the museum's collections have been loaned to other museums for temporary displays. The online retail element remained active throughout this period. Staff and volunteers Staff have continued to field research enquiries and undertake collections cataloguing and ralionalisation, as well as undertaking individual CPD activities. The museum continues to offer training and work experience opportunities to students. Relocation Project Work has continued with a view lo raising capital funds lo commence development in Cardiff Bay in 2025. Similarly, new partnerships have been established with a view to diversifying revenue streams.
The Museum of Military Medicine Trust Trustees, Annual Report (conllnuedj Year ended 31 March 2024 Financial review The charity received general funding and income of £248,518 in the year, with costs of £229,210. This leaves £7,642,450 of unrestricted reserves and £1,015,264 of restricted reserves al the year end, making total reserves £8,657,714. Reserves Policy The Trustees have examined the requirement for free reserves, which are unrestricted funds which are not represented by tangible fixed assets and which are not designated for specific purposes or otherwise committed. The Trustees have affirmed that, having regard lo the nature of the activities of the AMS Museum, the level of free reserves should be approximately £15,000 which is broadly equivalent to four months ordinary expenditure. The Trustees are of the opinion that this would provide sufficient flexibility to cover fluctuations income flows and in meeting the costs of the other contingencies. 11 is the intention of the Trustees to move towards this level of reserves as circumstances permit. Trustees. responsibilities statement The Iruslees are responsible for preparing the trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Praeticel. The law applicable lo charities in England and Wales requires the charity trustees to prepare financial ststements for each year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing these financial stalemenls, the trustees are required to.. select suitable accounting policies and then apply them consistently, observe the methods and principles in the applicable Charities SORP., make judgments and accounting estimates that are reasonable and prudent., prepare the financial slalemenls on the going conrn basis unless it is inappropriate to presume that the charity will continue in business. The Iruslees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charity's transactions and disclose with reasonable accuracy al any lime the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. 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.
The Museum of Military Medicine Trust Trustees, Annual Report (conllnuedj Year ended 31 March 2024 The trustees, annual report was approved on 29 November 2024 and signed on behalf of the board of trustees by.. Col P Hubbard Trustee
The Museum of Military Medicine Trust Independent Auditor's Report to the Member of The Museum of Military Medicine Trust Year ended 31 March 2024 Opinion We have audited the financial slalements of The Museum of Military Medicine Trust Ilhe 'charity'l for the year ended 31 March 2024 which comprise the statement of financial activities, statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial slalements.. give a true and fair view of the slate of the charity's affairs as al 31 March 2024 and of ils incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi., have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial ststemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalemenls, we have concluded that the Iruslees. use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubl on the charity's ability to continue as a going concern for a period of at least e1ve months trom when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Iruslees with respect to going concern are described in the relevant sections of this report.
The Museum of Military Medicine Trust Independent Auditor's Report to the Member of The Museum of Military Medicine Trust (contlnued) Year ended 31 March 2024 Other infomiation The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial slalements does not cover the other information and, except lo the extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial stalemenls, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstalemenls, we are required to determine whether there is a material misslatemenl In the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing lo report in respect of the following matters in relation to which the Charities Act 2011 requires us to report lo you if, in our opinion. the infr)rmation given in the trustees, report is inconsistent in any material respect with the financial statements., or adequate accounting records have not been kept., or the financial slalements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. Responslbllltles of trustees As explained more fully in the trustees, responsibilities slalement, the trustees are responsible for the preparation of the financial stslemenls and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial ststements that are free from material misstatement, whether due lo fraud or error. In preparing the financial slalemenls, the trustees are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, mallers related lo going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative bul to do so.
The Museum of Military Medicine Trust Independent Auditor's Report to the Member of The Museum of Military Medicine Trust (contlnued) Year ended 31 March 2024 Auditotrs responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstalemenl when il exists. Misstalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial stslemenls. Irregularities, including fraud, are instan$ of non-compliance with laws and regulations. We design prdureS in line with our responsibilities, outlined above, lo delect material misstatements in respect of irregularities, Including fraud. The exlenl to which our procedures are capable of detecting IrrularItie$, including fraud is detailed below.. We identified areas of laws and regulations that could reasonably be expected lo have a material effe¢l on the financial statements from our general auditing and accounting experienTr and through discussion with the directors and other management las required by auditing stsndardsl, the polices and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert lo any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly the company is subject to laws and regulations that directly affect the financial ststemenls including financial reporting legislation lincluding related companies legislation), dislribulable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related fi'nancial ststemenl items. Secondly, the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statement, for instance through the imposition of fines or liligalion. We indemnified areas as those most likely to have such an effect such as anti bribery and certain aspects of company legislation. Auditing standards limit the required audit procedures lo identify non-complian with these laws and regulations lo enquiry of the directors and other management and inspection of regulatory and legal corresponden, if any. As part of an audit in accordance with ISAS IUKI, we exercise professional judgment and maintain professional sptiCIsM throughout the audiL We also.. Identify and assess the risks of material misstatement of the financial statements, whether due lo fraud or error, design and perform audit procedures responsive to those risks, and obtain audit eviden that is sufficient and appropriate to provide a basis for our opinion. The risk of not delecling a material misstslemenl resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant lo the audit in order lo design audit prOdureS that are appropriate in the circumstances, bul not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting eslimales and related disclosures made by the trustees.
The Museum of Military Medicine Trust Independent Auditor's Report to the Member of The Museum of Military Medicine Trust (contlnued) Year ended 31 March 2024 Conclude on the appropriateness of the Iruslees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required lo draw allenlion in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtsined up lo the date of our auditor's report. However, future events or conditions may cause the charity to cease lo continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely lo the charity's member, as a body, in accordan with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might stsle to the charity's member those mallers we are required to slate lo them in an auditor's report and for no other purpose. To the fullest exlenl permilled by law, we do not accept or assume responsibility to anyone other than the charity and the charity's member as a body, for our audit work, for this report, or for the opinions we have formed. Thomas Mcmanners (Senior Statutory Auditor) For and on behalf of TTCA Ltd Chartered accountants & slatulory auditor 269 Farnborough Road Farnborough Hampshire GU14 7LY 29 November 2024
The Museum of Military Medicine Trust Statement of Financial Activities Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Not• Income and endowments Donations and legacies Other trading activities Investment income 183,781 54,535 10,202 183,781 54,535 10,202 165,986 65,755 3,925 Total incomo 248,518 248,518 235,666 Expenditure Expenditure on raising funds.. Costs of other trading activities Expenditure on charitable activities Total expenditure 41,938 187,272 41,938 187,272 87,335 199,939 229,210 229,210 287,274 Net ineomellexpenditurel and net movement in funds 19,308 19,308 151,6081 Reconciliation of funds Total funds brought forward Total funds Carried forward 7,623,142 1,015,264 8,638,406 8,690,014 7,642,450 1,015.264 8,657,714 8,638,406 The slalement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 11 to 20 form part of these financial statements.
The Museum of Military Medicine Trust Statement of Financial Position 31 March 2024 2024 2023 Notè Fixed assets Intangible assets Tangible fixed assets Heritage assets 13 42,468 14 84,557 15 7,026,978 45,500 78,641 7,026,978 7,154,003 7,151,119 Currgnt assets Stocks Debtors Cash at bank and in hand 16 17 23,143 2,502 1,482,931 1,508,576 24,531 9,475 1,457,883 1,491,889 Credltors: amounts falllng due wlthln one year Net current assets 18 4,865 4,602 1,503,711 1,487,287 Total assets less current liabilities 8,657,714 8,638,406 Net assets 8,657,714 8,638,406 Funds ofthe charity Restricted funds Unreslricled funds 1,015,264 7,642,450 1,015,264 7,623,142 Total charity funds 19 8,657,714 8,638,406 These financial statements were approved by the board of trustees and authorised for issue on 29 November 2024, and are signed on behalf of the board by.. Col P Hubbard Trustee The notes on pages 11 to 20 form part of these financial statements. 10
The Museum of Military Medicine Trust Notes to the Financial Statements Year ended 31 March 2024 General information The charity is a public benefi't entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Keogh Barracks, Ash Vale, Aldershol, GU12 5RQ. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 IFRS 1021 (Charities SORP IFRS 10211 and the Charities Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Golng concern There are no material uncertainties about the charity's abilty lo continue. Dlsclosure exemptlons The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12ofFRS 102. la} No cash flow stslemenl has been presented for the company. Ibl Disclosures in respect of financial instruments have not been presented. Judgements and key sources of estimation uncertainty Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year consist of estimates of irrecoverable VAT which have been provided for in the accounts. 11
The Museum of Military Medicine Trust Notes to the Financial Statements (¢onllt)ue Year ended 31 March 2024 Accounting policies {conllnu8d) Fund accounting Unreslricled funds are available for use al the dIretIOn of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to reslriclions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes.. reslricled income funds or endowment funds. Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow lo the charity and the amount Can be reliably measured. The following specific policies are applied to particular categories of ineome.. income from donations or grants is recnISed when there is eviden of enlitlemenl to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when reIpt is probable and enlillement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a conlraclual requirement for il lo be spent on a particular purpose and returned if unspent, in which case Il may be regarded as reslricled. 12
The Museum of Military Medicine Trust Notes to the Financial Statements (¢onllt)ue Year ended 31 March 2024 Accounting policies {conllnu8d) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which il relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitsble activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of ils beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly lo that activity. Shared eosts are apporboned between the activities they contribute lo on a reasonable, justifiable and consislenl basis. Intanglble assets Intangible assets are initially recorded at cost, and are subsequently slated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded al the fair value at the dale of revaluation, as determined by reference lo an active market, less any subsequent accumulated amortisalion and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably. Amortisation Amortisalion is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows.. Development costs Straight line over 15 years If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisalion is revised prospectively to reflect the new estimates. Tangible assets Tangible assets are initially recorded at eost, and subsequently stated at cost less any accumulated depreciation and impaitment losses. Any tangible assets carried al revalued amounts are recorded al the fair value at the date of revaluab'on less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 13
The Museum of Military Medicine Trust Notes to the Financial Statements (¢onllt)ue Year ended 31 March 2024 Accounting policies {conllnu8d) Tangible assets (conttnued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless il reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except lo which il offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as lo write off the cost or valuation of an asset, less ils residual value, over the useful economic life of that asset as follow5.. Short leasehold property Fixtures and fittings Equipment 10'/o reducing balan 1 00/0 reducing balance 100/0 reducing balance Heritage assets Heritage assets measured under the cost model are recognised initially recorded at acquisition cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Heritage assets measured under the revaluation model are recorded al fair value less any accumulated impairment losses. Where information on the cost or value of an asset is not available and cannot be obtained at a cost which is commensurate with the benefits lo users of the financial statements, the asset shall not be recognised in the statement of financial position. Impairment of fixed assets A review for indicators of impairment is carried out al each reporting dale, with the recoverable amount being estimated where such indicators exist. Vvhere the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting dale. For the purposes of Impairment testing, when it is not possible lo estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generaling unit to which the asset belongs. The cash-generating unil Is the smallest identifiable group of assets that Includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment lesling of goodwill, the goodwill acquired in a business combination is. from the acquisition date, allocated to each of the ¢ash%enerating units that are expected lo benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned lo those units. 14
The Museum of Military Medicine Trust Notes to the Financial Statements (¢onllt)ue Year ended 31 March 2024 Accounting policies {conllnu8d) Stocks Stocks are measured at the lower of cost and eslimaled selling pri less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock lo ils present location and condition. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Grant in Aid funding Other donations and legacies received 45,642 138,139 183,781 45.642 138.139 85,280 80,706 165,986 85,280 80,706 165,986 183,781 other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Shop income 54,535 54,535 65,755 65,755 Investment income Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Bank interest receivable 10,202 10,202 3,925 3,925 Costs of other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Shop Purchases Gross Wages and Social Security Postage Shop Website Costs 20,235 20,278 20,235 20,278 64,826 20,774 159 1,576 64,826 20,774 159 1,576 1,418 1,418 41,938 41,938 87,335 97,335 15
The Museum of Military Medicine Trust Notes to the Financial Statements (¢onllt)ue Year ended 31 March 2024 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Insurance Computer expenses and software support Postage, stationery and printing Repairs and renewals Travel expenses Telephone and fax Security Bank Charges Stsff training costs Entertainment General expenses Museum curator's salary and national insurance Museum director's salary Support costs 7,773 6.315 10.490 7,773 4.402 10,490 3,216 4,774 230 33 1,613 2,212 100 65,624 48,095 36,837 3,216 4,774 230 33 1,613 2,212 100 65,624 48,095 36,837 187,272 187,272 Unreslricled Funds Reslricled Total Funds Funds 2023 Insurance Computer expenses and Soare support Postage, stationery and printing Repairs and renewals Travel expenses Telephone and fax Security Bank Charges Museum curator's salary and national insurance Museum director's salary Museum relocation and development costs Support costs 7,315 3,662 6,556 507 4,000 2,642 260 301 43,061 43,176 7,315 3,662 6,556 507 4,000 2,642 260 301 43,061 43,176 45,030 43,419 45,030 43,419 154,909 45,030 199,939 Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Museum activities Governan costs 150,435 30,851 5.986 181,286 5,986 193,548 6,391 150,435 36,837 187,272 199,939 16
The Museum of Military Medicine Trust Notes to the Financial Statements (¢onllt)ue Year ended 31 March 2024 10. Net incomellexpenditure) Nel incomellexpendilurel is staled after chargingllcreditingl.. 2024 2023 Amortisalion of intangible assets Depreciation of tangible fixed assets 3,032 8,580 8,738 11. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows". 2024 2023 Wages and salaries 132,177 107,010 The average head count of employees during the year was 412023.. 41. No employee received employee benefits of more than £60,000 during the year12023.. Nill. 12. Trustee remuneration and expenses Neither the trustees nor any persons connected with them have received any remuneration, either in the current year or the prior year. No trustees or employees received emoluments above £60,000 in the period to 31 March 2024. 12023. none) During the period travel expenses lotalling £2,210 were paid to four trustees. 13. Intanglble assets Development costs Cost At 1 April 2023 and 31 March 2024 Amortisation Charge for the year At 31 March 2024 45,500 3,032 3.032 Carrying amount At 31 March 2024 42,468 Al 31 March 2023 45,500 17
The Museum of Military Medicine Trust Notes to the Financial Statements (¢onllt)ue Year ended 31 March 2024 14. Tangible fixed assets Short leasehold Fixtures and property fittings Equipment Total Cost Al 1 April 2023 Additions 383,175 34,179 7,197 69,511 7,299 486,865 14,496 At 31 March 2024 383, 175 41,376 76,810 501,361 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 335,269 4,791 340,060 18,818 1,538 54,137 2,253 56,390 408,224 8,580 20,354 416,804 Carrying amount At 31 March 2024 43,115 21,022 20,420 84,557 At 31 March 2023 47,906 15,361 15,374 78,641 15. Heritage assets The heritage assets held by the charity consist of the exhibits and historical collections held by the museum. These consist of medals, documents, and other ephemera and collections which have been donated and obtained by the museum. Heritage assets Cost or valuation At 1 April 2023 and 31 March 2024 Accumulated depreciation At 1 April 2023 and 31 March 2024 Carrying amount At 31 March 2024 7,026,978 7,026,978 Al 31 March 2023 7,026,978 All heritage assets are shown at a revalued level and no depreciation is applied to these assets. the last revaluation look place in 2023. 16. Stocks 2024 2023 Finished goods and goods for resale 23,143 24,531 17. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 1,111 1,261 130 3.477 1.792 4.206 2,502 9,475 18
The Museum of Military Medicine Trust Notes to the Financial Statements (¢onllt)ue Year ended 31 March 2024 18. Creditors.. amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income Social security and other taxes 921 3,596 348 999 3,603 4,865 4,602 19. Analysis of charitable funds Unrestricted funds Al 1 April 2023 At Income Expenditure 31 March 2024 General funds 7,623,142 248,518 1229,2101 7,642,450 Al 1 April 2022 At Income Expenditure 31 March 2023 General funds 7,629,720 235.666 1242,2441 7,623, 142 Restricted funds Al 1 April 2023 At Income Expenditure 31 March 2024 Restricted Fund 1,015,264 1,015,264 Al 1 April 2022 At Income Expenditure 31 March 2023 Restricted Fund 1,060,294 145,0301 1,015,264 19
The Museum of Military Medicine Trust Notes to the Financial Statements (¢onllt)ue Year ended 31 March 2024 20. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Intangible assets Tangible fixed assets Heritsge assets Current assets Creditors less than 1 year Net assets 42.468 84.557 7,026.978 493.312 14,8651 7,642,450 42,468 84,557 7,026,978 1,508,576 14,8651 8,657,714 1,015,264 1,015,264 Unrestricted Funds Restricted Total Funds Funds 2023 Intangible assets Tangible fixed assets Heritage assets Current assets Creditors less than 1 year Net assets 45.500 78.641 7,026.978 476,625 14,6021 7,623,142 45,500 78,641 7,026,978 1,491,889 14,6021 8,638,406 1,015,284 1,015,264 20