CHARITY REGISTRATION NUMBER: 1171026 The Museum of Military Medicine Trust Financial Statements 31 March 2025 The Museum of Military Medicine Trust Financial Statements Year ended 31 March 2025 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 11 The Museum of Military Medicine Trust Trustees. Annual Report Year ended 31 March 2025 The trustees present their report and the financial statements of the charity for the year ended 31 March 2025. Reference and administrative details Registered charity name The Museum of Military Medicine Trust Charity registration number 1171026 Principal office Keogh Barracks Ash Vale Aldershot GU12 5RQ The trustees J Baker Col A Boreham Maj M Ellis Col P Hubbard Prof M Harrison Mr P Nickson Dr C Scott Maj. Gen. A Hawley D Cannon Col G Johnson Col HS Winder (Resigned 26 March 2025) (Resigned 28 November 2024) (Resigned 29 August 2024) (Resigned 28 November 2024) (Appointed 6 January 2025} Auditor CA Ltd Chartered accountants & statutory auditor 269 Farnborough Road Famborough Hampshire GU14 7LY Structure, governance and management The Museum of Military Medicine Trust was established as 'The Army Medical Services 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 (continued) Year ended 31 March 2025 Objectives and activities The Board of Trustees manages the charity, and is responsible for its assets and the charity's strategic direction. The Board has two ex-officio positions.. the RAMS Corps Colonel and RAMS Regimental Secretary. The rest of the trustees are appointed. The Board of Trustees meets four times a year. The trustees are collectively responsible for the Board's decisions. A total of £92,691 was received in Grant in Aid during financial year 2024-25 towards the salaries of the Direct, Curator, and Assistsnt Curator. Between them they carry out the Trust's day-to-day work. Utilities, rent, and rates are provided from public funds. A group of volunteers provide regular support to the museum, who undertook approximately 1,550 hours of work between them during the financial year, or the equivalent of £24,000. The Friends of the Museum of Military Medicine supports the museum financially and practically. Achievements and performance The museum commemorated the 75th anniversary of the Queen Alexandra's Royal Army Nursing Corps in June 2024 with a Study Day held at Keogh Barracks attended by more than 100 serving personnel and veterans, including the Chief Nurse. A temporary exhibition on the history of the Corps was opened at the museum at the same time. There have been more than one hundred group and research visits through the year, and museum staff have delivered off-site talks. Artefacts from the collections have been loaned to other museums for temporary displays. Staff and volunteers Staff have continued to field research enquiries and undertake collections audit and cataloguing. The museum continues to offer training and work experience opportunities to students. Relocation In November 2024 the Defen￿ Infrastructure Organisation, as the representative of the landlord, the Secretary of State for Defen￿, requested that the museum vacates its premises at Keogh Barracks due to rebasing requirements. An alternative location at Whittington Barracks in Staffordshire has been offered to the museum as a substitute. The Museum of Military Medicine Trust Trustees. Annual Report (continued) Year ended 31 March 2025 Financial review The charity received general funding income of £254,642 in the year, with costs of £199,560 and restricted funding income of £205,000, with costs of £5,953. This leaves £7,697,532 of unrestricted reseNes and £1,214,311 of restricted reserves at the year end, making total reserves £8,911,843. Reserves Policy The Trustees have examined the requirement ft)r 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 to 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. It is the intention of the Trustees to move towards this level of reserves as circumstances permit. Trustees. responsibilities statement The trustees are responsible for preparing the trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿). The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing these financial statements, 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 statements on the going cOn￿M basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time 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 tsking reasonable steps for the prevention and detection of fraud and other irregularities. The Museum of Military Medicine Trust Trustees. Annual Report (continued) Year ended 31 March 2025 The trustees, annual report was approved on 26 November 2025 and signed on behalf of the board of trustees by= Maj. Gen. A Hawley Trustee The Museum of Military Medicine Trust Independent Auditor's Report to the Member of The Museum of Militsry Medicine Trust Year ended 31 March 2025 Opinion We have audited the financial ststements of The Museum of Militsry Medicine Trust (the 'charity') for the year ended 31 March 2025 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 AC￿pted Accounting Practice). In our opinion the financial statements= give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of reSoUr￿s, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., have been prepared in accordan￿ wth the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS {UK)) 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 accordan￿ with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan￿ with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern 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 to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees 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 Militsry Medicine Trust (continued) Year ended 31 March 2025 Other inforniation 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 statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, 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 misstatements, we are required to determine whether there is a material misstatement 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 to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion.. the information 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 statements are not in agreement with the accounting records and returns,. or we have not received all the infomiation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees. responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees detemiine is ne￿SSary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to 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 but to do so. The Museum of Military Medicine Trust Independent Auditor's Report to the Member of The Museum of Militsry Medicine Trust (continued) Year ended 31 March 2025 Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to 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 (UK) will always detect a material misstatement when it exists. Misstatements 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 ststements. Irregularities, including fraud, are instances of non-complian￿ with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below= We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general auditing and accounting experience and through discussion with the directors and other management (as required by auditing standards), the polices and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to 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 statements including financial reporting legislation (including related companies legislation), distributable 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 financial statement 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 litigation. We indemnified areas as those most likely to have such an effect such as anti bribery and ￿rtain aspects of company legislation. Auditing standards limit the required audit procedures to identify non-complian￿ with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. Vve also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement 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 to the audit in order to design audit procedures that are appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of the intemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. The Museum of Military Medicine Trust Independent Auditor's Report to the Member of The Museum of Militsry Medicine Trust (continued) Year ended 31 March 2025 Conclude on the appropriateness of the trustees. 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 Un￿rtaInty exists, we are required to draw attention in our auditorfs 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 obtained up to the date of our auditorfs report. However, future events or conditions may cause the charity to ￿ase to continue as a going concem. 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 to the charity's member, as a body, in accordance 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 stste to the charity's member those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted 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 (benior btatutory Auditor) For and on behalf of CA Ltd Chartered accountants & statutory auditor 269 Farnborough Road Farnborough Hampshire GU14 7LY 26 November 2025 The Museum of Military Medicine Trust Statement of Financial Activities Year ended 31 March 2025 2025 Restricted funds Total funds 2024 Unrestricted funds Total funds Note Income and endowments Donations and legacies other trading activities Investment income 187,369 37,383 29,890 205,000 392,369 37,383 29,890 183,781 54,535 10,202 Total income 254,642 205,000 459,642 248,518 Expenditure Expenditure on raising funds.. Costs of other trading activities Expenditure on charitable acts'vities Total expenditure 24,976 174,584 24,976 180,537 41,938 187,272 5,953 199,560 5,953 205,513 229,210 Net income and net movement in funds 55,082 199,047 254,129 19,308 Reconciliation of funds Total funds brought forward Total funds carried fonNard 7,642,450 1,015,264 8,657,714 8,638,406 7,697,532 1,214,311 8,911,843 8,657,714 The statement 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 forni part of these financial statements. The Museum of Military Medicine Trust Statement of Financial Position 31 March 2025 2025 2024 Note Fixed assets Intangible assets Tangible fixed assets Heritage assets 13 39,436 14 81,030 15 7,026,978 42,468 84,557 7,026,978 7,147,444 7,154,003 Current assets Stocks Debtors Cash at bank and in hand 16 17 21,421 231,604 1,517,257 23,143 2,502 1,482,931 1,770,282 1,508,576 Creditors: amounts falling due within one year Net current assets 18 5,883 4,865 1,764,399 1,503,711 Total assets less current liabilities 8,911,843 8,911,843 8,657,714 8,657,714 Net assets Funds of the charity Restricted funds Unrestricted funds 1,214,311 7,697,532 1,015,264 7,642,450 Total charity funds 19 8,911,843 8,657,714 These financial statements were approved by the board of trustees and authorised for issue on 26 November 2025, and are signed on behalf of the board by.. Maj. Gen. A Hawley Trustee The notes on pages 11 to 20 forni part of these financial statements. 10 The Museum of Military Medicine Trust Notes to the Financial Statements Year ended 31 March 2025 General information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Keogh Barracks, Ash Vale, Aldershot, 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 (FRS 102) {Charities SORP (FRS 102)) 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. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty Key SoUr￿S 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 Un￿rtaInty 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 (continued) Year ended 31 March 2025 Accounting policies (continued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds eamarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub