RECEIVED 2 7 JAN 2025 NEWMAN & CO Cbrity regra number 1180612 (Eoglad *nd W4lt$) Compatty numlxr CE015571 ANNU D FtNAN JAL STATEM FOR THE YEAR ENDED 31 MARC
USE GALAND ADMINIST Tre£S Mr S Mxhaye Mr David HaY Mr Slep1 Greenw(XMI Mr Graham Minshull Mr Keith Kiddic Charlty ttunhber (Engllthd Ithd Wksl Company D¥mb¢r CE01557I Prifj¢ipl addre55 •tioti Road NOrwh Norfolk NRI6 IHZ Regtstered offlee Ststion Rojd FOrett St Peler NorwKh Norfolk NR16 IHZ Indepe*deD¢ examlner WaveDry Arrowitants Limi¢ Tlas Newman & Co 4b Churth Street N(rfolk IP22 4DD
Page Tree5. re)rt Independent examincrf5 rq>ort Statement orrinanctal activities Balance sheel Notc5 to the financial statets 0-13
RS REPO TheTnJstees wesenl I1r at)nual and fin1•1 swements fw the year ended 31 March 2024. The rtnanci&l sttemenlS have been prepared in &¢¢ordance with the accountin8 pollcio sd out in not¢ I to th¢ financial stsiements and Comply with Ihe Cl(Ys governing thTnl. the Compan¥e5 Act 2( and "Accounting a1 Reporting by Chatitl¢s.' Sthicm¢nl of R¢comtnerwJ¢d Prndice alIb]e to rlwitie5 FYepaTing theiT accounts in accord&nce with the FiNncial Reporting Sthndord applicable in ihe UK MI Republi¢ of Ireland {FRS 102>- {as anKndrd for accounling perIS commcncins from l January 20161 Objeetlves thd #etivbties The CIO'S obje¢is are to advawe the educaiion of th¢ publ>¢ by establishing and Thaintaining a mu5eutn for the exhibition and preservalion ofannoured vehi¢les, Weapo[ and wjks. Tl policies adopied in furtherance of these objects are detailed below there has been change in these dum)g ihe year. Pwblie benefil The TNstees have paid due regard to guidat isswd by ihe Chariiy Commissiort in deciding wh&t lIvi11¢S the CIO should undtrtake. Yolunleers 4012022.. 361 volunteers worked for the djarily durin8 the year. A£lLlev¢m¢xts #nd per[Wl<¢ Significani ociiviiles {Yd0¢iernets ttgoinsiobjeciis Financial revlew Reserveswlicy It is the policy of the cio Ihal unrestrieied funds which ittn Iksignaied for a splfIC use sknuld be nwintained at level equival¢ni to b¢Lw¢en ihr¢e and six month's expetxliiwr. The Tnte$ Consider Ihat reseTres M this level will ensure that. in the eveDI of a significanl drop in funding. they will k abl¢ to ¢ontinu¢ th¢ CIO'S ¢utr¢ni activities while c(msideration is givcn to ways in which addl1nal may be rsed. This level ofreserves has been maintained throughoul the year. Major risLT TnteeS have essed the major risks to which the CIO is exposrf afftd are Mi1sfd thai syaems are bll place io mitigate exposure to the major risks. Strn¢t¥re g(v¢rnxn¢e d ThJnXg¢wt CIO is a Charitable Inco)[3¢ed Or8anisalion (CIO) and was estsblished 8th November 2018. The Tru$teffj who are al ihe If10[5 fw the puox6e of MpanY l•w, •nd who served durirt8 the year aThJ up to the d*e of signatu of the financtal Statements w¢r¢'. Mr S Machaye Mr David Hardy Mr Stephen G¥e¢Dwood Mr Graham Minshull Mr Keiih Kiddie Rtt-rNiimem andappoinimem offftuiee None ofthe TAte¢S has any tter1¢la1 in1¢1 in ik company. All of theTFUStccs atc 0( the company snd 8uardnlee to contri11¢ £10 in the EIr a winding up.
TRUSTEES. R THEYE The Inlees, rqK*rt w&4 approved by the Bwd of TTU5tecs. Mr S Machaye
HE rNDE I report to the Trustc¢s ¢xamina¢1( of thc financial ofThe NorfolkTank Museum CIO (the CIO) for the year ended 31 March 2024. Re$ponsibilitie5 and ba515 of report As the Tru5t¢cs ofihe CIO (and 4150 ils direthors for the wrp)ses ofcomplny lawk you re resp)nsible for the preparntion of the financial sthtements in accordaNe with the wuiffmenis ofihe Companies Aci 2(1)6. Having $atisfied myself that ihe fu¢781 atemen1S ofthe CIO are required be &tIted uDd¢r Part 16 of th¢ c(Inpl¢S Act 2006 and are eligible for indepetthnt examination. I rerA)rt in respecl ofmy examination of ihe CIO'S financial statements arried out under seclioll 145 ofihe Charilies Aci 2011. In canyiTh8 ¢YJt my examination I have followed th¢ Di110n5 giv¢n by the Charity Commission under section 14515Nbl ofihe c1111t5 Act 2011. INd¢peudeht txirnintr's stteme•t I have completed my examination. I conflmi thai mattcrs havc come lo my altenti( in connedion with ihe examination giving me Cause io believc ihat in any Tnalcrial r¢5pcc¢-. accounting records were noi kept in respect ofihe CIO wiired by sectlon 386 of the CffiJpaNics Ari 2(16. the flnancial statements do noi accord with ihose Ttcords: or firwicial statements do not comply with the accounting requirements of section 396 ofthe Companies Act 21MJ6 other than any requiremenf that the financial 5taiements give a true and fair view. which is not a maller ¢oDsid¢r¢d a5 pad of an IndendeI examination-. or the fu)an¢ial statements have not been preparcd ith a¢Cowdat wilh the methods and pnncTpk5 of the Staiement of R¢commended Praclice for arUling and leplIng by thill¢S applicable to rharitie5 preparing their financial siatemenis in attordance wilh Ihe Finan¢ial Re18 sthllda applicabk in the UK IA Rewblic oflreland {FRS 1021. I have no concerns attd have ¢ome across no other m¢¢ In cofinection with the ex4minall to whrh attention should b¢ drawn iti this report in order10 enabk nd¢a.ng of the financial 5tstemrn15 bc reachcd. Mr W T Goddard FCCAACA CTA Wav¢ney Accountanls Limited Tia5 Newman & Co Chartetrd Accountsnts 4b Church &reel Diss Ntsrfolk IP22 4DD Dated..
RFOLK TAN TEMENT OF FtNANCIA OME AND EXPEN ED IMAR H 2024 Unrestrlcted funds 2024 Unrestricted funds 21J23 In¢ome frorn: Donativns and legacies Charitable activities 6,560 116.638 319 91.401 Total IA¢ome 123.198 91.720 Expendlture •D: Raising funds Charitable aciiviti¢$ 2.737 123,055 2,078 86,709 TotAI ¢xpedlture 125,792 88,787 Net Inc•DtPendj1U) aod movement IA fuDds 12,594) 2,933 Re¢DnelllAtloTr of futhd$: Fund balae$ ai l Aprjl 2023 13.556 10,623 Fund bhmc¢s at 31 March 2024 10.962 13.556 The siatement of finartial activities irt¢ltyJes all 1th$ and losses ffcognised in ihe year. All income and expeTKliture derive rrom continuin8 activities.
BALANCE SHEET 2024 2023 Flied ssets Tangjble sse¢S 12 10.505 10,524 Currynt assets StKks Debtt>rs sh al bank and in hand ij 14 2(• 2,247 200 1,935 2,167 3,227 4J02 Creditors: amounts f#llingdue wi¢hiN one is (2.7701 (1.270) Ntt Current assets 457 3.032 Tot*l 4s5ets less eurremt liabilities 10,962 13,556 The fund5 •f the CIO UDreMricled (unds 16 10.962 13.556 10.962 13.556 The company is entitled io the exemption from ihe audit uireMent coThtained in sec11 477 of th¢ Companies Aci 211)6, for Ihe year endcd 31 March 2024. The dire¢lor kr¥]edses his r¢spon5ibilJis for complying with the requirements of ihe Companies A¢1 2006 wi¢h re4)eci to aceounttn8 records and Ihe preparalion of financial sialements. The members have not required the ¢ompany io olxain 4n audil of its fuwKial staternents for the year in qucstion in xcordance wilh s¢clion 476. These flnancial statern¢nt5 havc bccn prqMrcd in xcordwKe with the wovisi¢xhs arq>licabie to companies subject to the small ompanies regime. Q7-01- 202£ The financial Statem were approved by the Trustees on ......................... Mr S Ma¢haye Trustee Company re$tralI0 rtwnber CE015571 (Englarnl 0j Wales)
ActOliDtlnE poild Ch#rhy inforthtlo Th¢ Norfolk Tank Museum CIO is a charitable i0[ped organisalion incolted in England and Waks. The re8isl¢red otri¢e is Swion Rot Fonwett St P¢l¢r. Norwic NoTfolk. NR16 IHZ. The financial sthtemenis hove been pv¢pared in attordatKe with ihe CIO'S goveming dwument. the Companies A¢t 21X)6 aryJ"Arcounting 3j R¢tIlg by Charities: Sthknnent of Recommended Prxiice applicable to charitics preparing their accounts in accordance with the Financial Reponing SiaThJard opplicabl¢ in the UK and Republic of ireland (FRS 102)" las arnd¢d for accouting periods ¢ommen¢ing l January 2016}. The CIO is a Publi¢ B¢n¢fit Enlity as defined by FRS 102. Thr CIO has takcn JvaDlagc of wovisions in the SORP for chariiies applying FRS 102 Update Bullctin I nol to prepare a Sthtemeni of Ch Flow The fina11 stalements are prepared in sterling. which is the functi)¥1 currettcy ofthe CIO. Mcrfthry amounis in ihese financial staternents arc rounded to the nearest L The fitla1 stalements have been wepared the hisIcal cosl convention. The principal xcountin8 policies adopied are sei out below. 1.2 C•lng coneern At the lime of approving the fina¢ial slateMen the Tnw¢es have a re&sonable expectation that the CIO has adequate resoU¢S io ¢ontinue in operniional existen¢¢ fw Ihe fores¢¢able fuluTe. Thu5 th¢ TnJst¢es tLI1nUe to ado the goin8 ¢on¢etn losis of accvunling in prep2rin8 the fu18] statements. IJ Ch•rltble funds v[¢51n¢t¢d funds ar¢ available for use at the dixretion oftheTru5tees in lurtherance of theircharitable objertivcs. Restricted fuThLs are 5ubjecl lo specific conditions by donors i)r 8rnhtLXS as to lW they may be used The purposes ind uses ofthe reslricted funds are set out ITh the notes ¢0 the finWl81 statements. Enthwmeni futwjs are subject io spttifie conditi(% by that thecapiMI must be mainiained by ihe CIO. IA Ineome Incoffle 15 recognised when ihe CIO is legally eniit]¢d lo it after my conditions have been mei, the u1$ can be measured teliably. and it is FYob•bk ihat income will k ffceived. Cash doxolions are ¢081$¢d on receiv. Other th)n•i(rf)s are re¢o8nis¢d cmce the CIO has been rLOtified of the donation, unless perfoTmWKC ¢ondiliorts require deferral of the amcrttht. Income thx tecoverable in relation to donations received UJ¢r Gift Aid ordeeds ofcovenani is the time of the donation. L¢go¢i¢5 are re¢ognised on recei or oihenvise ifih¢ CIO h¥ been notifd oran impending distribution. Ihe &Thunt is kTh)wn, and rrc¢ipt 15 exp(. a[11 15 Thot kw4 the legacy J$ treated as a contingeni asset. 1.5 Expendlture Expenditur¢ is x¢ounted for on an accruals basis and has been ClSIfIed UTKler IadIng5 thal aggregale all cost relalrd the category. Where cost can not directly atiributed io particular IIng5 they have been all(Kated activities on a basis ¢onsistenl with the e of rwurces. 1.6 T••gIb flxed a$5ets Tangible flxed &ssets are Ilbltially measured at CO subsequently Meas at Cost or val110, of deweciation and any ifflpairrnent losses.
NOTES TO.IEIE EINANCJI L STATE_MENT&ICQ_NT_WEDJ RTH IMAR 2024 ACCOtIng polltl¢s (CODtlned) Deprttiaiion is recognised w as io wri otythe Cl or valuation of &ssets less theirTesidual values over their yr1 lives on the followin8 bases.. Leasthold land aThI buildings Plani atKI equipment deweciafrd 25%Tcducing bala¢ The gain or 105s arising di5P0531 oran a55cL is thtcffliiI a5 the dilT<¥rThce bdwcen thc Sak pre¢d5 the carrying value of the •ssrf. and is £07$¢d in the slaiement orrts)an¢ial adiviiies. 1.7 Impainnenl of filed sets At each reling end da, thc CIO ¥1¢WS ihc canyin8 aMniS of its lan8iblc asscts io detern)ine whether re is any indicaiion thai those assets have sutTered an impairn)eni loss ifany such indication exists. the recoverable amount of the asset is esiimaied in th¢r to deiernune ¢xnt of the impairnient loss (If any). 1.8 Stocks Siocks are stated at th¢ lower of c05t 8j c51imthted selling pnce less Costs to ¢omplclc thj sell. Co# comptises direei materials and. where applicable. dir¢ labour costs and Uw)se ovvhcads that have been IUrred in bringing the stock5 to IheLT present location and condili¢M. liems held for disinbutiLm at Th) or nominal consideraiion are rtwdsured the lower ol replacement C05t and c05t. N¢t Trali5abk value 15 Ihc ¢51itnaEed selling wice less all tlMa{ed of tNnpl¢l and Costs to be in¢urred in markeiing. selling and diMritXLII(_ 1.9 Cash And eqlvkts Cash and ¢ash equiv•knts include cash in hanLI d$t$ ld ai call with kS other short-iemi liquid investments with original maiurities of three months or less, at)d bank ov¢rdrafts. Bank overdralts shown within iKrowings in Current l.l• Financlai iThstruments The CIO ha5 ¢]*d io apply the wivisM)ns of Section I I 'B&%ic Financial InstnLments' and Seclion 12 '0ther Financial Instrnmettts Issues'of FRS 102 to a]1 ofits financial insuwnthts. Financial in5tru¥Tren15 arc Te¢ognJ5¢d in the Cl(Ys balance sheet when the CIO ttcomes pany io the contraclull provisiorts o(Ihe instrimKni. Financial a$sds athl liabilili¢s are otTset, with the net amounts presenied in th¢ finan¢ial Matemthts, when there is a legally enfoweabk right IO sd off the ¢081$¢d amounrs and tlm is an iniemion ¢0 settle on an basis or 10 Tealise the as5d atKi sdtle the liability simUltaneolY. Basic fmaneial which incluck debtors and cash armi bank balance4 S initially measured at transaction pri¢¢ including transa¢lion eosts and are sllbsewly caffied al amlxtised cost 18 the etTective interest method unless the arrangemeni ¢on51liUt a finan¢ing traTrsacii¢m. where the tran5aclion is me&5ur¢d at ih¢ tK¢seDi valu¢ of ¢h¢ fuiur¢ rtteipls discounted at a rnarkd rate of intertsi. Financial &s5cts classifKd receivable within one year arc not amorlised.
NOT R T EY Accounllng PDlkles (Contlnuedl B4$i¢Jln4nciqlliubUlll¢f Basic flnancial liabtlitie5. includin8 crediloT5 and bank loans are itlitially at Iran5action pri¢¢ unlc5s the arrangement Co[lituteS a finarKing trdnsacllon. where thbt in51rumeTht is measured ai ihe present value of the future payments diScound al a marke¢ rate of inteTest. Financial liabililics classified as payablE Wlthin one yr are T1 amortised. Debt inMnJments are subsequently wried ai amonised cosL sing the ¢(f¢c¢ive inlere5t rale rnetlvjd. Trade Creditors are obligalions to pay for go or services thai have be xqutred in the ordinary course of operations fmm suppliers. A¢Th)unts payable ¥r¢ ¢lassifi¢d as liabiliiies if payment is within one year or less. If not. they ar¢ presented as non-curreni liabiliLLes. Trade creditors are recognised initially at transaclion price and subsequently measured ai amon1sl Cost using the ¢ffe¢iive interest me Financial liabilities are dere¢ognised when Ihe CIO'S colmrn obligations expire OT ar¢ dischargd or cancelled. 1.11 Employtt benefits The cost of any unused holiday eniitlement is recognised in the in which the employee's ser¥ic¢s are received. Ternjinalion beIr11S arc rccogni5d imNKdialely as an eXn5¢ wIKn the CIO is d¢owtWrably ¢ommitt¢d to tenninate the employmenl of art employee or to provide ¢em)in•tion E¢nefits. Criti¢AI estimte5 In application of Ihe CIO'S ac¢ouming policie& the Trusiees are requi1 io make judgemeThts, estimates and assumptions aboui the Carrying anh)uN of assets aThJ liabiliiies Ihai are not r¢adily appaw)t from oth¢w 50ur¢es. The cstima1¢5 and a5WCiatd a55wnplion5 bJ5ed hi5tsKical expritnce and other fxlots that are (WISered to be levant. Actual resulis may differ from these esiimates. The emimafes and tsnderlying assumwions are miewed on an ongthng basis. Revisions lo cOUnting estimates are reeognised in Ihe period in which the ¢•mate is revised wh¢ lh¢ revision affects only ihat p¢riod. or in the p¢riod gf thE vISI) and future wltt thr r¢vision affects currtslt and futtsre periods. latome from doM*tl•D5 leEiE5 UDre5tricted fujbds 2024 Umre5tricted futtd$ 2D23 Donation$ and gifts 6.560 319
TE THEF TEbA Ch•rlt*ble athirfe5 MMse4 2•24 Museum 2023 Cafe and admissi¢)n5 116,638 91,401 Expenditure r4ising fuAds UDreitrlcted UDrestrlct¢d funds fuDd5 21124 2023 F•ndral$lng and publclty Advertising 2.737 2,078 Charitable aetivitie$ Mwseu Museu 2024 2023 Sthffcosts Dewtciation and impairnient Machinery running costs Machinery rcpair5 and maintenarKC Mu5¢um cxpethditu Rent and other estsbli5hment Costs Light and heat InsuraT CrtdJL card charges Posia8e. printing and stationery Telephone Care eXltUre. subsisleThce and enlertainment 8,867 1,459 24.308 13,199 16,428 8.7(K) 5.896 3,540 4,583 1,995 6.750 7,431 34,585 6,(K)O (9881 3.053 1.074 992 518 19.245 1,579 912 35.635 121.167 85.238 Share of governance c0515 (see 7) 1.888 1.471 123.055 86,709
TH TE R THEYEAR Support eosts S4pport e•sts CovffThnee costs 2•24 202J Accountancy 1,888 1,888 1,471 1.888 1.888 1.471 Analysed between Chariiable activilies IA88 1.888 1.471 Net rnoyemenl ID fund5 2024 2023 The nEt movement in funds is 8d afttt chawgu)(crtth"ng). Fees payable for the it*nthi examination of the ¢haviry's f¢•al slalements Dewe¢i¥tion ofown¢d taTrgib red assets 1,888 1,459 1,471 1,995 Trustees None ofthe TTUStee5 (or any rrtf50n5 conrttted with them) received any remuneralion or btncfits frotn tIK CIO durin th¢ year. 10 ErnphJyets The average monthly numberof ernployee5 during Ihe yedr w&s.' 2024 Number 2•23 Nwmber Employment eosts 2024 2•23 Wages and salaries 8,867 4,583 TherE were emploYeeS whose aThnual uncltIOn was moTe than £60.(. Remuneratlon of key maoagement persDTh•d The remuneraiion of key managemeTht tOntI¢l was &$ follows.. Nil. The charity is exempi from iaxati(th on its aciiwiiies bec•use all its iKome is applied for charlble puws. 10-
LKTANK TE THE FIN R THEYEA 12 TxDgibJe Ilxed Assets Le•sthold IArthd To Cost Ai l Apnl 2023 Additions 4.740 13.898 18,638 Ai 31 March 2024 4,740 15,338 20,078 Depreclathn and impalrmellt At l April 2023 D¢we¢iation charged in the year 8,114 1,459 8.114 1.459 Al 31 Match 2024 9J73 9,573 CarrySAg amount Al 31 March 2024 4.740 5,765 10.505 At 31 March 2023 4.740 5,784 10,524 The asset$ on sh7w ai the museum are on loan fmm Mr S Machaye. one of the tnlees. No char8e h&$ been rne in respeci olthe loan and it is ongoin& subje¢1 to the assets being on show 10 the public. 13 stks 2024 2023 Consumable sI(k 200 14 Debloys 2024 2(123 AmouDts falling due wllhlm year. Prepayttwits arLd aCen income 2247 1,935 15 CredSt•r5: *inouDts falling the wlthlx •ne yur 24 2Q23 Aeernals deferred income 2.770 1,270 11
NOT DED31 16 UThrestrlcted fund$ The unserIc1Cd funts ofthe clwity comprise the 18¢5 of dorolioN5 aTwJ gran¢s whith ate noi subjec¢ lo specific conditions by th)r)r$ a1 Branlors as lW Ihey may be used. These irtlude designated fuTrJs which hawe been sel aside out olunrcslric*d by the trustres for Slf pOs. At l Apyll 2•Z3 Resource5 At 31 M8r¢h expended 2024 r¢sowr¢ General (unds 13.556 123.198 (125,792) 10,962 Prevlous yur: At I APTII 21122 IneomlD¥ Resowrce5 At 31 March txptnded 2(123 General funds 10.623 91.720 188,7871 13J56 17 AD8lysls of net ets betwee• fund5 Unrestrleted funds 21124 At 31 Mir¢h 2024: Tangible issels Curreni &&$e1(l1abil1tieS 10,505 457 10.962 Unre5trlcted fu5 2023 At 31 Mareh 21123: Tangjblr ass¢ts Curreni ass¢W(liabiliLies) 10.524 3,032 13,556 18 Operating kase tomrnltments iwee At the reporting end da the CIO had outstsndin8 cornmitmen¢s for fU[C minirnum lease paentS undEr non n¢¢ll4bk opalIng kase& which (all as follows. 2024 2023 In over fiveyezTS 12-
THEN RFOLK TANK MUSEUM CJ TO THE FtNANCtAL STAT ED YEAR E DED31M 19 Related rtY trnsadlo Trnsxetiotis vlith relted prths During the year theCIO o)red inio ihe following ttw)sa¢iions wilh la1¢d parties.. A ten year lease agreemeni for the land was enteyed inio Ofy 8 Novemtr 2018 with Mrs N M%hye. Rthi payable under the agreement is a minimum of£3.(XMI perannum. 13-