Charity rogistralion number 1175948 IEn9land and Wales)
Company regl$tration number 10784046
WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
*AEBZ4U8H*
271(w2￿25
COMPANIES HOLISE
A21
255

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
MrWTC
Mr R Cu￿.$
Mrs H R Blake EOward$
Mr B R Curtis
MrCRK￿￿k
Mr D A Gledhill
Mi D Hughes
(Apkxinted 12 December
20241
(Aptoinled 12 December
20241
(Appointed 12 December
2024)
MrJMCLamb
MSA Porter
Secretary
Mr DA Gledhill
Charity number (England and Wales)
1175948
Company number
10784045
Prlnclpal addre$$
Hangar 2
Sandown, 14e of WghlAirport
Scotchells 8rook Lane
Sandown
Ige of Wght
P036 OJP
Reglstered offlce
9 St Jot￿$ Place
Newport
I￿e of Wght
P030 1LH
Independent examlngr
m(¥)￿ (South) LLP
9 Sl Johns Place
Newport
Isle of IAlght
P030 1LH
Banke
Newport Nat￿st Bank Pk
107 St James Street
Nthy)rt
Isle of Wght
P030 1UT
Sollcllors
RJR Soliolors
Portjand House
18 Memlle Street
Ryde
I￿e of V¥lghl
P033 W

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
CONTENTS
Page
Trustees. report
Independent examinels report
Slalemenl of finanaal ath"vities
Balance sheet
Notes lo the finanual stslemenls
9-17

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and finartial statements for the year ended 31 December 2024.
The financial statements have teen prepared in accordan￿ wilh the accounting policies set OLrt in note 1 to the
financjal slaternenls and Comply the charitys Artides and MemorarKlum of Association, the Companies Acl
20C6, and the eharilies AGi 2011 and -Accounb"ng and Reporh"ng by Charith"es.' Stalemènl of Recommended Practice
applicable lo Charities preparing their a(uunls in accordance wlh the Financial Reporting Standard applicable in
the UK and Republic of I￿land IFRS 1021. (as amended for ac￿Un￿"n9 pencds commenLing from 1 January 2019).
ObJKtlvo$ and a¢tJvltles
The Objects of the Charity have not thènged from tr￿se listed in the Artides and Memorandum ofAssocialion and
in summary they 8re to establish & maintain a working museum for the exhibrtion and preservation of historic and
classic aircraft, associated artefacts memorabilia for the benefft of the pu￿1¢, and to advance the educ*ion of
the w*Jlic in the history of aviation.
PublK benefft
The trustees have paid due regard to guidance issued by the Charrty Commi55ion in deci¢Jing what activities the
tharity should undertake, arKI they are Coll￿tivelY aware of this guKlance in ensuring that all their actions are for the
public benefrt.
Achlevements and perf0m￿nCe
SwnrfKanl actNities and ￿h¢eVementS against obiectwes
Visit by the Isle of Wight High Sheriff-
Followng many months of hard work by the Wght Aviation Museum team of wlunteers. the museum re-opened to
tl)e public on Saturday the 16th Marth 2024.
To help Celebrate our opening weekend we were d￿￿h(ed to be able to give a guided tour to the ngN Isle of Wghl
High Sheriff, Mrs Dawn K Hai*Thomas and her IwJsband Alex.
They were extremdy impressed wlh all that the ￿ght Awalit)n Museum has lo offer, Celebrating t￿e Island's extra-
ordinary hislory in aviation which spans from builthng Ihe earl￿$1 of aircraft in the 1910$, throu￿ to giant Sea
Planes, Fighter Jet￿rcraft and Space Rockets.
Dawn also leamed about extraordinary Island people such as the late Mary Ellis ATA who Ilew mutiipse fighter
aircraft and bombers from the factories to the FL4F airfields. IW2.
She also got to lake controls of our 8eagle Bull Dog aircraft using the very latest in VR technolcgy for a 'virtual
flight. around the Island which she thoroughly enjoyed.
Gavin Stride Directoi of "Crnatl¥e Island". visits the museum:
In April a pidure of pibts Pauh"ne Gower and Dorothy s￿￿r thw'r Spartan Aircraft called "Helen of Troy". was
piesenled to Gavin Stride. Director ofCre*"¥e ISL￿d. ty Helen Blake. chairpers￿ ofwght Aviation
Ltseum (WAMI.
Gavin Stn'de visited WAM on a fact-finding knjr ol the Museum and leamt aboLrt the museum5 plans lo ￿1)g the last
1930's &se8ler Spartan aircraft back to the Isknd fr(¥n ils cuml home in New Zealand.
Creative IslarKI is one of the Counal National Portfolio Organisatw)ns {NPOI on the IslaTrl. with the aim to
encourage shared ambitiM. nurture tslent. support creative eduCatiC￿ and develop a cultural strategy for the IS￿ of
Wight.
Qulz Nlght Fundralsor.
In May, 8 quiz night hdd ty the WghtAviation Musewn and ¢xganised by vohjnteer David 'Hobbif E¢￿ardS raised
£200. wth thanks lo the Fiikin Deck Retsurant at G¢)ddard's Brewery for hosting the evenL

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Museum Expanslon:
The same month saw the Wghl Aviabon Museum lease the hangar adjaeent lo the main museum. This wll enable
the museum's collectson to grow over time as well as offer the opportunty to hold MO￿ events and educab.on
aebvi1￿$ as part of WAM'S outreath w(>3ranme.
This also allows the museum to create a bigger workshop facility for its Mell in Sheds group which has proven
extremely popular, as well as enabling the creation of a new arthiving facility in ts pre¥￿u$ workshop.
Tho Wight Aviation Museum Schools Hovercraft ProJecL"
The Wght Aviation Museum Education Team wor*ed wth Year S pupsls from Oakfield School in Ryde. to find out
how and why hovercraft work, the history of hovercraft on the I￿e of Wght and the continued use of them by the
Solent transp)rt provider: Hovertravel.
The firsl ts¥o weeks of the four lessons run by Ihe museum in the schwl classroom and hall, where the pu￿lS
in Mr5 Robinw's dass discovered how hovercraft worked ussng balloons and CDS.
The folowng week the class were very engaged in leaming how a large radioiontrolled model hovercraft operated
over a range of surfaces in the schod hall. which proved great fun for the students.
In the third week the lesson look place on a real hoveiciaft. very kindly hosted by Hovertravel al Ryde. The pupils
were given a guided tour of the companies 'lsland Flyerf hovercraft ty Mike, ￿ not only explained how they
worked but allowed the pupils to tr￿r the vehide aThl sit in the ￿1￿5 Seal.
Pupils also explored the Wght aviatron Museum's CC7 Cushi0Th7aft, vmlh museum volunteer Mark Porter, who's
leading the restoration of the craft.
Mark also demonslraled a muth larger raditr¢Mtrolkd model of a Channet Hovercraft.
Ann Porter. the WAM Edueth"on Tewn memter vtho organised the lesson5 and trips for Oakfield. said
"We wero exlrgmelyplgased Hovertravel We￿ able fo host Iha class fora visk.
°Il gave Ihe pupHs a real-wohd example of why hovemft are used in certain arnas and fitted pwfectly into oui
National Cuniculum scheme of wort( aboul forces."
Tochnology support from Stainless Game5 Ltd:
A flight simulator at the museum %Ya$ ertHn¢ed %Mth the supm of Islanfkbased videogame dgvelopment studio..
Stainle55 Games Ltd.
When WAM needed a high-perfomiance graphics PC to the latest sotrare on a 3D flight simulator, Stainless
Game5 kindly provided the suitable hardware.
The simulator is housed in a genui￿ Bulldog fuselage, vigtors usirvJ r( can experience takin9 off and fftying
above the Island. Another fulty ￿aYable eXhI￿t 1$ of Slainless Games. 2008 trtle.. Red Baron Arcade.
The team from Stainless Games were wetomed lo the museum given a tour before ￿"ng sel free to wt the
Red Baron and the simulators through thwr pa￿.
Helen Blake, the museum's Chairperson said..
"We are very fortunate to be supported al WAM by such a Internat￿allY known company who have
really made a huge Orfle￿nCe to the oper&ion and attRctth of our Flight Simulators."
Slainlv35 were delighted to be involved in supporting this local attraction and the companies D1￿ctor Neil Bamden
'The Wght Aviation Museum is a brilliant celebration of the I￿and'S rich aviation heritage. The foundets of Stsinless
and many of our staff are Islanders by birth or marriage and can trace family lineage that has been involved in some
way with that aeronautical heritage. Stainless is therefore proud lo te able to help the museum in a way that brings
our industries logelherf
Neil also created new hea&iTr the-hole boards for the museum u&ng graphK Al t￿1& The toards ￿ere kindly
dOr￿ted lo the museum by Stsinless games.

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT) {CONTINUEDI
FOR THE YEAR ENDED 310ECEMBER 2024
Men in Sheds Festival-
In June WAM hosted the annual Men in Sheds festival which was kindty sp￿￿ored by Ihe Royal Brrt"rsh Legion in
P8rtnership with WghtAid & Community in Action Isle of Wghl.
The event was well received. presenled joinuy by WAM and the Island's Men in Sheds grow)s with tho offiaal
opening by Antony Meleawe. Head of Community ErMJagemenl al the Royal British Legion and Rob Lloyd from Men
in Sheds.
The festival included a V￿￿e variety of stslls. of Arts and Crafts from a number ol the Island's Men in Sheds
including,. Bembridge Shed, Nettlestone & Seaview Shed, Sandown s￿d, Imghl Shed and of course WAM
Men in Hangars. The VI￿10[5 were entertained ￿th live mugc from MbTrllPS Wootton Ao)ustic Music Shed and
Whippingham Music Shed. There was also a ￿nall Beer Festival.
Due to the rather wel weather this all Ic*)k pLqce in WAM'S nthv Hanger T*tJ. with adth"t￿nal indoor space kindty
promded by our nwghbours at SandowmA"rptyt, Abilty Dogs 4 Ywng PeorAe.
Bull N¢)se Car Club al Ihe WlghlAviation Aquseum-
July saw several busy even15 al the museum induding a visit from 90 members of the "Morris Bulln(r•e C¥ Club"
who travelled from right across the UK to atteThJ.
As well as displaying their vintage cars for all to enjoy, tre members also enjoyed a Sumptuous "Aftemoon Tea.
provided by the museum volunteers in our 2nd Hangar.
1940'$ Weekend at WAM:
July also saw the °The 1940's Weekend" hetd at Sandthvn ￿rfield in partnership Ihe °Vectis 40,$ Vintage"
Group. The event was attended by a rarhge of period ¥eh￿eS and rfrenactors helpsng lo transport Visitors back to
the wartime efa and proved to be very popular.
Open Day at the Museum-
After a busy summer season, the WghtAvialion Museum held an"Open DaK on Saturday the 21 sl September. The
evenl was officially opened by Counallor Carl Love rewesenls East Cowes on the Island, an area that was at
the heart of the Isle of Wgh15 aviab.on industy where Saunders Roe were based and is still the howE of GKN
Aerospace today.
As part of our campaign to le￿M the last &seater Spartan aircraft to the Isle of Vknght, museum volunteer Paul gave
a talk about the history of these amazing 15iAnd built aircraft and the lasting legacy they had. in progressing women
In aviation.
The Open Day also included a fascAnating talk on "*trfnen arKI lty¥u' given by guest speaker Sally Smith aLrthor of
'Magnificenl Women and Flying Machines".
Her tslk proved extremely popular ¥￿th attendees and she very kn'ndty donated the pfofrts from her book sales on the
day, to Ihe museum.
Tony Smart Trlbute:
In late Autumn the Mus￿￿ paid tribute to founding rrwnber and frnr trustee Tony Smart. who sa¢Jy passed
away al the age of 87 after a short illness.
Tony was inslrumental in projecl managing the buihjing of ts museum's replica Black Arrow rocket. wtmch now
stands as a lribute to him. as well as all those who wthed on the rod(et prc•3ram in Ihe 1950's and 60's.

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
End of the 2024 Holiday Season:
At the end of October, the museum dosed to the general PU￿1¢ for the winter. although educatton visits continued
Ihrough lo December.
Work also started on creating Ihe new bigger Men in Sheds workshop in the 2TrJ hangar.
This wll also enable the previous smaller workshop to be converted into a r￿W archtve fac41ity. providing crucial
storage for the many detuments the museum has colleded Sin￿ its inception.
The year ended with the museum holding rts annual AGM ￿ the 101h December wthich was ¥￿11 attended by over
40 persons.
This saw the appointment of 3 new directors.. Jonathan Lamb. vtho also took on the role of joint deputy chair
alongside existing deputy chair Brian Curtis. Ann Porter who assists wth WAM'S educ8th.on trjlreach work and
Donald Hughes is now overseeing the museums membership scheme as well as other administralive tssks.
TheAGM also re4ppointed Helen Blake-Edwards as Chairpwson and David Gledhill as the Cornpany Secrelary.
Overvlew of 2024:
The museum saw similar fr￿1 compared lo the p￿¥10￿$ year but overall higher revenue from vi%itors compared
to 2023.
This year also saw an increase in membership wth 14 ad¢lib"Lxwl members Joining compared lo 2023. In addition
several new volunteers Tr)ined the museum's team assisb.ng with a range of athvtties.
Fundraising continued to bring the last 3-se8ler 1930'$ spart￿ airrxaft back to the I￿e of Wght, %Mth the launch of
a new campaign on Just GNing.
The museum is a150 working with RAF Museums wilh the aim of displawng tr* SR-53 jetfighter al the museum. The
aircraft was designe<J and built on the Island by SaurKlers Roe in the 1950,5.
The museum stll faces chalknges in generating revenue tMJt the l*)ard are conf*dent that these can met. as Ihg
museums activities inerease going forward irtto 2025.
Flnanclal review
For the year ended 31 December 2024 Ihe tharty had income of £45,296 12023 - £38.1261 expendilure of
£52.03512023- £25.6531 leaving a deficit of £6,739 (2023- suwus of £12.4731.
The total balance of funds at the year end was £64.427 (2023 - £71,166}. 01 the total fvnds. £36,592 12023 -
£36,592) was invested in the museum couection. and £30,868 of these assets remain 5ubj.ect to restrictions. The
remaining reslricte¢J will be incurred on orKJoing development prqects at the museum.
The charity has £27.118 of free reseNes {2023 - £27,918) Free reserves *e unrestricted fimds not tsed LFP on fixed
assets.
Going concem
The Charty is cautious in crmnmenang proiei#s and incurriTrJ experKliture unlil fijnds afe available, given that the
organisalion is in its infancy. arKI is developing the museum and its artefacts. The charity has suffered with delays lo
opening caused by Ihe pandemie, atthough rt has benefftted support granls from the I￿al aulhonty, and
agreement for a further year at nil ￿nI from rts base at Sandown IW Airport. The trustees are confident that in
following their devel¢Jwient FAans the tharty will remwn a going concern for the next months.
Rgs8Thes p￿￿Y
11 is the policy of the eharrty that unostricted fijnds have not been designated for a specific use should be
maintained al a level equiVa￿nI to between three and six monlh's expenditure. The tnjstees considets that reserves
at this level will ensure that, in the event of a 9gnfficanl drop in fvnding. they wll be atle to continue the charity's
cu￿ent activities while consideration is gNen to ways in whth additKinal lunts may be raised. This thel of ￿serVeS
has been maintained throughout the year.

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Major17sks
The truslees have assessed Ihe major risks lo tpthtch the rt￿rity is exposed. and a￿ sath"sfied that systems are in
place lo mitigate exposure lo Ihe major llsks.
Stru¢tur•. governance and management
The charity is a company limited by guarantee and is govemed by the MemorarKlum and Articles of Association
posted by the charib.es Commission and at C¢Jmpanies House ￿re incorporated on 23 May 2017. There havg
been regular meelin9s of the 608rd since fomation.
There is a monthly meeting of all Directors that is minuted. The Treasurer u￿ateS cash tlows and balances monthly
for discussions by the Truslees. For govemance wrposes there are rules for attendanc* and other matels for
Diredors including spend and financial authorisali¢)n limits for payments. We also operate a wrchase order system
against agreed speryfications for orders placed suppliers.
The trustees, who are also the dIreCt￿S for the purpose of company law, and vtho ser¥ed during the year and up to
the dale of signature of the financial statements were".
Mr WT Cooper
Mr R Curtis
Mrs H R Blake E(hvards
Mr B R Curtis
Mr C R Kurek
Mr D A Gledhill
Mr D Hughes
MrJMCLamb
Ms A Porter
(Apw'nted 12 December 20241
(Apwinted 12 December 2024)
IApp)inted 12 December 2024)
Rocruitn￿nÈ and appointment oftnjstees
The trustees are from paid up members of the V￿ght Aviation Museum and volunteers or through personal
recommendatim. Roles of the trustees are needs assessment based on petsonal skills and eypèrEnces.
N¢)ne of the trustees has any beneficial inleTe5t in the company. All of lh8 trustees are members of the company and
guarantee lo contribute £1 in the event of a wnding up.
The trustees. report was approved by the Bowd of Trustees.
Mr R Curtis
Truslee
Dale..

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF WIGHT AVIATION MUSEUM
I report lo the trustees on my examinalion of the finanoal statements of IAfjght Aviation Museum (the charity)
for the year ended 31 December 2024.
Re$ponslbllltle$ and basis of report
As the trustees of the chanty land also rts directors for the p￿pose$ of company law). you are responsible for
the Pfepar81ion of the ffinanual statements in accordance vlilh the requirements of the Companies Act 2006.
Having sth"sfied myself that the finanual statements of thanty are not re¢pired to be audited urKler Part 16
of the Companies Ad 20￿ and a￿ digible for independent examinab"on. I report in respect of my examinats'on
of the charity's finanoal statements carrted out under section 145 of the Charities Act 2011. In carying out my
examination I have foll¢)wed the thrections gI￿n by the Charty Cornmission under sedron 14515llb} ol the
CharibesAct 2011.
Independent examinerfs ststernent
I have completed my examination. I confimi th* no matters have cC￿e to my attention in connedion wilh Ihe
examination giving me cause lo believe that in any material iespecl..
ac¢ounting records were rM* kept in resFect of the ehwity as required by seclion 386 of the Companies
Act 2006.
the financial statements do not aeeord those records: or
the finanoal ststements do not comply ¥Mth the accounting fequirements of seciion 396 of the Companies
Act 2006 other than any requirement that the finanaal ststements give a true and fair view. which is r￿t a
matter considered as part of an independent examination.. or
the financial statements have not been prepared in ¥cordan￿ with the methods and principles of th8
Statement of Recommended prath.￿ for accountsro and reporb.ng by charities applicable to charities
preparing their finanoal slatements in x¢tydance ￿ryth the Financial ReportIr￿ Stsndard applicable in the
UK and Republic of Ireland IFRS 102).
have no cOn￿mS and have eome aeross no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper undefslanding of the finanual slalemenls lo
be reached.
tf C&K)L
Kevin Cooper BA FCA DChA
For and on behalf of Moore {Southl LLP
9 Sl Johns Pl￿e
Nevoort
Isle of Wght
P030 1LH
Dated..

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted Res￿cted
funds
funds
2024
2024
Total UnrestrS¢ted Restricted
funds
funds
2023
2023
Total
2024
2023
Notes
Income from:
Donations and legaoes
37.865
7.431
45.296
34.816
3.310
38.126
Total Income
37.865
7.431
4S.296
34,816
3.310
38,126
Expenditure on..
Charitsble activities
41,465
10,570
52.035
24.727
926
25.653
Totsl expendlture
41.465
10.570
52.035
24.727
926
25,653
Net Incomellexpendlturel and
movement In fvnds
{3,600)
13,139)
16,739)
10.089
2.384
12,473
R8¢on¢lllatlon of fund$:
Fund balances al 1 January
2024
36.442
34.724
71,166
26,353
32,340
58,693
Fund balances at 31
December 2024
32.842
31,585
64.427
36.442
34.724
71,186
The statement of financial ac*vrties incMMJes all gains and losses recLwwd in the year. All irwme and expenditure
derive from continuing activrties.

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
ASAT31 DECEMBER 2024
2024
2023
Flxed assets
Tangible assets
10
38,832
39,392
Current assets
Debtors
Cash at bank and in h*KI
11
24,000
23.065
24,000
33.153
47.065
57.153
Credltors.. amounts lalllng due T*lthln
one year
13
{21.470)
125,379)
Net current assets
25.595
31,774
Totsl assets less current liabilities
64.427
71,166
The funds ofthe charity
Restricted income funds
Unrestricted fijnds
14
31.585
32.842
34,724
36.442
64.427
71,166
The company 1$ entitled to the exempts'on from the audrt requirement contained in section 477 01 the CompaniesAct
2006, for the year ended 31 Decernbef 2024.
The d1￿CtOrS acknowledge their ￿SP)nSi1￿"lltles for eomplyrng with the requirements of the Companies Act 2006
th respe￿ to accounting records arn1 the p￿paratiOn of finawal *atements.
The members have not reqiyred the compary to obtain an audit of its ￿￿rKi¥l statements for the year in question in
accordar￿ with section 476.
These financial statements have been prepared ￿ accordance with the provisit)ns applicable to companies subjeet
lo the small companies regime.
The finanaal stalemenls We￿ approved by the trustees on . ....
Mr R Curtis
Trustee
C¢)mpany registration nunber 10784045 {England and Kèles)

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Charity infonnation
Wight Aviation Museum 1$ a private company limited by guarantee incorp)raled in England and IAkdes. The
registered offi¢e 1$ 9 St Johns Place, Newport, I￿e of Wghl. P030 1 LH.
1.1 A¢¢ountlng convenllon
The finanual slalemenls have been wepared m ac¢¢ydance wth the charitys memoraTrJum and artides the
Compan*s Act 2006 and "Aecfjunkn"ng and Reporring by Charities.. Statement of Recommended Pradiee
applicable lo charities preparing th•r accounts in accordan￿ wrth the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland IFRS 102)- {as amended fc* accounb.ng periods commencing
from 1 January 20191. The charity is a Benefit Enty as defined by FRS 102.
The tharity has taken advantage of the provisions in Ihe SORP f￿ tharities applwng FRS 102 Updats Bulletin
1 r￿t lo prepare a Ststement of Cash Flows.
The finanual 5ts1ement5 are p￿Pared in sterling, whith is the fvnctional currency of the charity. Monetary
amounts in these financkal stslemenls are rounded to the r*arest £.
The financial slalemenls have been wepared ￿der the historical eosl convention. The prinupal accounting
policies adopted are set out bekw.
1.2 Going concem
At the time of approving the finarwl slatements. the trustees have a reasonable expectalron that the charity
has adequate resources to continue in operatsonal e￿$tence fof the foreseeable future. Thus the trntslees
continue to adopt the going concern basis of accounting in preparing the finanaal ststements. The Trustees
monrtor expenditure on projects and only cLJmmence projects and activities when that funding is in pla￿.
1.3 Charitable funds
Uniestricted fvnds are availab￿ for use at ts discrekn.on of the trustees in frjrtheranee of their charitable
obJ'ectNes.
Restricted (￿d$ are subje(a lo spe(ific condrtions by donors ¢X grantors as to how they may ￿ used. The
purposes and uses of the restricted are sel OLrt m the notes to the finanoal statements.
1.4 Income
Income is recognised when the charity is Wlly enlilled to il after any perfomiance condilions have been mel,
the amounts can be measured ￿liably, and il is probable that irKome wll be received.
Cash donations are recognised on receipt. Other donalions are reccgnised once the chartty has been notified
of the donation, unless perfOrmaTr￿ conditK)ns require deferral of the amount. Income tax recoverable in
relation to donations received under Grf1￿"￿ or deeds of covenant i8 recognised at the time of the th)nalion.
Legacie5 are recognised ￿ receipt ￿ olheThMse rf the charity has been notified of an impending distribution,
the amount is kn¢)wn. and receipt is expethd. If the amount is not known, the legxy 15 treated as a
contingent a￿et.
Assets given for use by the tharity are recogrised vthen r￿l¥able. In kind donations indude Ihe rent for the
museum premises for the year.

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcles
l¢ontinued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a
third party. il is pr¢)bable that 8 transfer of ecor￿MiC beneffts ￿11 be required in settlement. and the amount of
the obligath.on can be measured reliabty.
Expenditure is dassified by activrty. vtt¥ch currentty cg)nsists of just one a(*vty of setting up the WghtAwalion
Museum. The costs of each acbvty a￿ made up of the totsl of direct costs and shared costs. including
support costs involved sn undertaking eath acb'vty. Direct costs attn'butable to a single activty are allocated
directly to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a ￿ngle activity ale apPort￿ned betsveen those activities ¢M a basis consistent wilh the use
of resources.
The charty is operate¢J by volunleers at this tme and no valuation is put on their kn"me.
1.6 Tangible fixed assets
Tangible fixed asse15 are initially measured at eosl and subsequently measured at cost or valuation. net of
depreciation and any impaiment losses.
Depreciabon is recognised so as to vKite off the cost or valuation of assets less their reshlual values over their
seful lives on the fdlow.ng bases..
C￿n￿￿e[S
Museum Collection
20% reduong balance
Under develorAnent and Mt depreaated
The gain or loss #ri￿n9 on the disposal of an asset is determined as the drference between the sale proceeds
and the caryng value of the asset. and is recognised in stslemenl of financial actsvrties.
1.7 Impalrment of fixed a￿ets
Al each reporting end date. the chanty reviews the Car￿ng amounts of tts tsngible assets to determine
whether there is any indication that those assets have suffered an impaimienl loss_ If any such indication
exists, the recoverable amount of Ihe asset is estimated in order to detemiine the extent of the impairment
loss (if any).
1.8 Cash and cash •quNalents
Cash and cash equivalents include cash in hand. deposrts held at call banks. other short-term liquid
investments with original malurrties of three months or less. and bank overdrafts. Bank overL1rafts are shown
thin borrowings in cwrrent liabilities.
1.9 Flnanclal Instruments
The charity has dected to apply the provisicMs of Section 11 'Basic Finanaal Irb5truments' and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its finanual instruments.
Financial instruments are reccgnised in the balw sheet when the charity be￿￿$ paty to the
conlTa¢tual provisions of the instrurnent.
Financtal assets and liabililies are offseL *tylh the rt amounts presenled in the financial statements. when
there is a legally enforceable rwJht to set off the recognised aMo￿ts and there is an intention to settle on a net
basis or lo realise the asset and settle Ihe liats.lity Simultaneou￿Y.
10-

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting poli¢ios
(Continued)
Basie financial assets
Ba&c financial assets. vthith indude debtors and cash and bank balan￿s. are initially meaSU￿d at
transactifm price including Iran5ac*"on costs and are subsequentty carried at amorti5ed t￿t usng the effeth've
inlere$l method unless the arrangement constrtutes a finanong transaction, where the transaction is
measured at the wesenl value of the future rec•pls discwnted at a m*et rate of interest. Financial assets
classified as r￿1Vable wthin one year are not aM0￿.Sed.
Basic financialllabllitles
Basic financial liabilities. induding credrtors and bank loans are initially recognised at transaction price unless
the arrarrfjement constrtutes a financing transaction. where the debt instrument is measured al the present
value of Ihe future payments discounted at a market rate of intere*. FIna￿val lialylrties dassified as payable
Athin one year are not am¢Ylised.
Trade creditors are obligations to pay fof gts)ds or serwces thal have been acquired in the ordin*y course of
operat'ons from suppliers. Amounts payable are dassffied as current liabilities rf payment is due within ong
year OT less. If nol. they are presented as non-ojrrent liaknlities. Trade Creditors are recognised initially at
transaclion price and subsequentty measured at amthsed cost usng the effective interest method.
Critlcal accountlng estimates and judgements
In the application of the Charity's accounling pyicies. the trustees a￿ required to make judgements, estsmales
and assumplions about the carrying amount of assets and liabilities that are not reaclily apparent from other
sources. The e5b"mate5 arKI associated aSsumpt￿n$ are based on historical experience and other factors that
a￿ considered to be relevant. Actual results may differ from these esb"males.
The estimates and underfyry asyJmptions are re￿e•l￿d ￿ an orooing basis. Revisions to accounts.ng
estimates are recognised in the period in wl)id) the estimate is revised ￿re the revision affeets ￿lY that
period, or in the period of the revisi￿ and future periods where the revision affects t)oth current and future
peri¢xIs.
Income from donations and leg8¢ies
Unrestricted Restricted
funds
funds
2024
2024
Total Unrnstrictsd Restricted
fund$
funds
2023
2023
T¢)tal
2024
2023
Don*ions and gifts
Grants
Membership fees
35.242
255
7.116
315
42.358
570
2.368
32.
2,310
1,000
35.276
1,000
1,850
37.865
7,431
45.296
34.816
3,310
38,126
11

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expenditure on charltable aclivities
AvS•tlon
Museum
2024
Aviation
Museum
2023
Dlrect costs
Oepreoab'on and impairni￿t
Museum proiect costs
Marffeling and promobon
Insurance
Rent (donated in kindl
Brothures and pnntsTr3
Website costs
560
22,001
458
2.570
7,000
302
145
700
5,641
908
3,039
6,000
1.082
306
¥ 11
Heating and lighting
Travel and subsistence
Fundraising
Office and COMM￿￿OtionS
Maintenance
Sundry costs
1,358
3,197
2,705
4,381
3,327
1,649
1,454
1.758
389
816
1.193
315
49.653
23,601
Share of support and governance costs (see note S)
Govemance
2,382
2.052
52,035
25.653
Analysb by lund
unrestn.cled funds
Re$tricled funds
41.465
10.570
24.727
926
52.035
25,653
Support costs allocated to activities
2024
2023
Govemance costs
2.382
2,052
Anaty5ed betwwn:
Aviation Museum
2.382
2.052
2024
2023
Governance costs compri￿.
Accounting and examination
2.382
2.052
2.382
2,052
12-

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Net movement In funds
2024
2023
The net movement in fund$ is stated after dwrgiWlcredthng}".
Depreciation of I￿ned tangible fixed assets
560
700
Trusteeg
None of the trustees (or any persons connected wlh them) received any remunerntion or benefits from the
charity during the year.
Employees
The average monthly number of ern￿OYeeS durirKJ the year was"
2024
Number
2023
Number
Totsl
There were no ern￿oYeeS annu￿ remunerats'on wa5 more than £60.000.
TaxatSon
The charity is exempl Irom taxation on its activitbes because all its wKcrfne is applied for charitsble purposes.
10 Tangible fixed assets
Aluseuffl
col￿tIon
Tolal
Cost
At 1 January 2024
3,500
36.592
40.092
At 31 December 2024
3,500
36.592
40.092
Depre¢latlon and impairment
At 1 January 2024
Depreciation charged in the year
700
560
700
560
At 31 December 2024
1,260
.1,260
Carying arnount
At 31 0Kember 2024
2,240
36,S92
38,832
At 31 December 2023
2.800
36,592
39,392
13-

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11 Oebtorn
2024
2023
Amounts falllng due wlthln one year.
other debtors
24,000
24,000
other debtors includes the prepayment to secure the FpartanAireraft for the museum.
12 Loans and overdrafts
2024
2023
L¢)ans from re￿ted parties
20.000
24,000
Payable within one year
20,000
24.000
The loan is unseeured.
The loan was made from a Trustee towards the Nwchase of the Spartan ￿rcraft proiect. The loan carries no
interest an¢J has no repayment date.
13 CredIto￿- amounts falling due within one year
2024
2023
Loan from relate¢l party
Accruals and deferred income
20,000
1.470
24,000
1,379
21.470
25.379
14-

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
14 Restricted funds
The restricted funds of the charity comwse the unexpended balances of donaDons and grants held on trust
subject to specific condrticms by donors as to hlyw they may be used.
At 1 January
2024
Incomlng
Resources
expended
At31
December
2024
Museum Exhibits
Mary Ellis display
Rocket HLF Project
Sthools Hoverrxaft Project
Spartan Aircraft Projecl
Men in Sheds Festiv
IOW Science Festival
Education Project
30.868
356
997
1.000
1.503
30.868
{3561
19971
11.0001
12.6031
12,2991
13.0001
13151
1.1C
3.016
3,0
315
717
34.724
7.431
110,570)
31,585
Prevlous year.
Al 1 January
2023
Incomlng
Resources
expended
At31
December
2023
Museum Exhibits
Mary Elli$ display
Rocket HLF Project
Schools Hovercraft Project
Spartan Aircraft Project
30,868
475
997
30.868
356
997
1,000
1,503
11191
2.310
18071
32.340
3.310
{926)
34.724
IndivithJal donations have t>een prowded t¢Jward5 building the collections, including Black Arrow Projed,
Rocket and Cushion Craft. The balarKes also inclusjes lI￿Se incurred on the museum collection and which
are reflected in restrKte(l assets totslling £30.868 at the period end {2023- £30.8681.
15-

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15 Unrostrlcted funds
The unrestricted funds of the chwty ¢xympnse the unexpended balarKes of donations and granls which are
not subject lo specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside QLrt of unrestricted funds by the trustees for speufic purposes.
Al 1 January
2024
Ineoming
Tesources
Re$ourees
expended
At31
December
2024
General fvnds
36,442
37.865
(41,465)
32,842
Previous ye*r:
At 1 January
2023
Incomlng Resources
resources
expended
At31
December
2023
General fvnds
26,353
34.816
124,727)
36,442
16 Analysi$ of net assets bètween funds
Unrestricted
funds
2024
Rtstricted
funds
2024
Total
2024
At 31 December 2024:
Tangible assets
Current assetsllliabilth"es)
30,868
717
38,832
25,595
24,878
32.842
31,585
64.427
Unrestricted
funds
2023
Restricted
funds
2023
Total
2023
At 31 December 2023:
Tangible assets
Current assetsllliabilities)
8.524
27.918
30.868
3,856
39,392
31,774
36.442
34,724
71,166
17 Operating lease commnments
Lessee
The Charity ocujpies Hangar 2 at SandovmAirport on a licence to on a ￿nI free basis.
16-

WIGHT AVIATION MUSEUM
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18 Related party transactions
Transactions with related partles
During the year the chanty entered into the follow.ng transactions with related parties:
Disdosed wthin Lyedrtors is the oulstandirwJ loan from th8 Trustee for ts Spartan airuaft purchase project.
The balance is £20.000 (2023- £24.000).
17-