Charity registration number 1179982
Company registration number 11273253 (England and Wales)
MANSTON HISTORY MUSEUM
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
MANSTON HISTORY MUSEUM
CONTENTS
| Page | |
|---|---|
| Trustees' Report report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 13 |
MANSTON HISTORY MUSEUM
TRUSTEES' REPORT REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: 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)" (effective 1 January 2019).
Objectives and activities
The charity's objectives are to record the history of RAF Manston and its surrounding satellites at RAF Ash, RAF Sandwich and RAF Dunkirk. This is achieved through increasing its collection of artifacts and through maintenance of existing exhibits, and providing an insight into the history through its museum and events.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Significant activities and achievements against objectives
The charity has continued to develop over the period and has continued to meet its aims and objectives.
Financial review
During the year, there was a increase in net assets for the charity of over £40,000.
Reserves policy
The charity has maintained reserves to ensure that it can continue to achieve its aims and to purchase artifacts and exhibits as they become available. These will vary, and the trustees will regularly review the reserves held.
Structure, governance and management
The charity is structured to enable the museum to borrow, purchase and maintain artifacts from the RAF. At the year end there are 10 trustees who serve the charity to ensure it meets its objectives.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
M Everall
T Brooks
D Howlett D Smith J Groombridge M Izzard T Groombridge W Lawrence A Slaney B Wray
Recruitment and appointment of trustees
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.
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MANSTON HISTORY MUSEUM
TRUSTEES' REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
The Trustees' report report was approved by the Board of Trustees.
D Howlett M Izzard
17 December 2024
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MANSTON HISTORY MUSEUM
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MANSTON HISTORY MUSEUM
I report to the trustees on my examination of the financial statements of Manston History Museum (the charity) for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Mark Hurdman BA(Hons) FCA
3 Lloyd Road Broadstairs Kent CT10 1HY
Dated: 19 December 2024
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MANSTON HISTORY MUSEUM
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 147,373 | 120,073 |
| Other trading activities | 4 | 40,693 | 37,891 |
| Investments | 5 | 4,260 | 2,668 |
| Total income | 192,326 | 160,632 | |
| Expenditure on: | |||
| Raising funds | 6 | 21,563 | 15,602 |
| Charitable activities | 7 | 125,941 | 69,635 |
| Total expenditure | 147,504 | 85,237 | |
| Net income and movement in funds | 44,822 | 75,395 | |
| Reconciliation of funds: | |||
| Fund balances at 1 April 2023 | 310,805 | 235,410 | |
| Fund balances at 31 March 2024 | 355,627 | 310,805 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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MANSTON HISTORY MUSEUM
BALANCE SHEET
AS AT 31 MARCH 2024
| Notes Fixed assets Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 16 Net assets excluding pension liability Net assets The funds of the charity Unrestricted funds |
2024 £ 13,186 87,372 100,558 (34,252) |
£ 289,321 66,306 355,627 - 355,627 355,627 355,627 355,627 |
2023 £ - 58,863 58,863 (31,154) |
£ 286,353 27,709 314,062 (3,257) 310,805 310,805 310,805 310,805 |
|---|---|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 17 December 2024
D Howlett
M Izzard
Company registration number 11273253 (England and Wales)
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MANSTON HISTORY MUSEUM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
Charity information
Manston History Museum is a private company limited by guarantee incorporated in England and Wales. The registered office is 3 Lloyd Road, Broadstairs, Kent, CT10 1HY.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: 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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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MANSTON HISTORY MUSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Long leasehold property 2% straight line Fixtures and fittings 15% reducing balance Equipment 15% reducing balance Museum artifacts 5% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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MANSTON HISTORY MUSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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MANSTON HISTORY MUSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | 147,373 | 120,073 |
| Income from other trading activities | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Fundraising events | - | 1,999 |
| Shop income | 40,693 | 35,892 |
| Other trading activities | 40,693 | 37,891 |
| Income from investments | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Rental income | 3,425 | 2,661 |
| Interest receivable | 835 | 7 |
| 4,260 | 2,668 |
4 Income from other trading activities
5 Income from investments
6 Expenditure on raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Fundraising and publicity | ||
| Staging fundraising events | 6,371 | 1,880 |
| Trading costs | ||
| Shop expenses | 15,192 | 13,722 |
| Total costs | 21,563 | 15,602 |
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MANSTON HISTORY MUSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
7 Expenditure on charitable activities
| Expenses | Expenses | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Direct costs | |||
| Staff costs | 49,417 | - | |
| Depreciation and impairment | 16,047 | 16,593 | |
| Light and heat | 524 | 5,867 | |
| Repairs and maintenance | 23,474 | 22,319 | |
| Insurance | 4,715 | 4,421 | |
| Motor vehicle expenses | 3,422 | 2,619 | |
| Telephone | 657 | 596 | |
| Other office costs | 17,929 | 8,422 | |
| Other interest payable | 2,586 | 2,536 | |
| Accountancy | 284 | - | |
| Accountancy | 726 | 660 | |
| Cleaning | 5,712 | 4,342 | |
| Legal and professional | 448 | 1,260 | |
| 125,941 | 69,635 | ||
| Analysis by fund | |||
| Unrestricted funds | 125,941 | 69,635 | |
| 8 | Net movement in funds | 2024 | 2023 |
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Depreciation of owned tangible fixed assets | 16,047 | 16,593 | |
| 9 | Trustees | ||
| Ms J Groombridge has received £10,416 remuneration during the year. | |||
| 10 | Employees | ||
| The average monthly number of employees during the year was: | |||
| 2024 | 2023 | ||
| Number | Number | ||
| 11 | 11 |
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MANSTON HISTORY MUSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
| 10 Employees Employment costs Wages and salaries Other pension costs |
(Continued) 2024 2023 £ £ 48,117 - 1,300 - 49,417 - |
(Continued) 2024 2023 £ £ 48,117 - 1,300 - 49,417 - |
|---|---|---|
| - |
There were no employees whose annual remuneration was more than £60,000.
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
12 Tangible fixed assets
| 12 Tangible fixed assets |
|
|---|---|
| Long leasehold property Fixtures and fittings Equipment Museum artifacts £ £ £ £ Cost At 1 April 2023 195,927 43,684 46,833 47,016 Additions 7,912 - 5,479 5,623 At 31 March 2024 203,839 43,684 52,312 52,639 Depreciation and impairment At 1 April 2023 10,959 16,436 16,106 3,605 Depreciation charged in the year 4,077 4,087 5,431 2,452 At 31 March 2024 15,036 20,523 21,537 6,057 Carrying amount At 31 March 2024 188,803 23,161 30,775 46,582 At 31 March 2023 184,967 27,248 30,727 43,411 13 Debtors 2024 Amounts falling due within one year: £ Other debtors 13,186 |
Total £ 333,460 19,014 |
| 352,474 | |
| 47,106 16,047 |
|
| 63,153 | |
| 289,321 | |
| 286,353 | |
| 2023 £ - |
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MANSTON HISTORY MUSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
14 Loans and overdrafts
| Bank overdrafts Bank loans Payable within one year Payable after one year Creditors: amounts falling due within one year Notes Bank loans and overdrafts 14 Other taxation and social security Trade creditors Other creditors Creditors: amounts falling due after more than one year Notes Bank loans 14 |
2024 £ 6,343 2,500 8,843 8,843 - 2024 £ 8,843 1,018 16,127 8,264 34,252 2024 £ - |
2023 £ - 7,250 |
|---|---|---|
| 7,250 | ||
| 3,993 3,257 |
||
| 2023 £ 3,993 - 18,960 8,201 |
||
| 31,154 | ||
| 2023 £ 3,257 |
15 Creditors: amounts falling due within one year
16 Creditors: amounts falling due after more than one year
17 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 April | Incoming | Resources | At 31 March | |
|---|---|---|---|---|
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| General funds | 310,805 | 192,326 | (147,504) | 355,627 |
| Previous year: | At 1 April | Incoming | Resources | At 31 March |
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| General funds | 235,410 | 160,632 | (85,237) | 310,805 |
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MANSTON HISTORY MUSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
18 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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