Hornchurch Aerodrome Historical Trust CIO Un•Ilt•d Tnlet¢ re and fin•ndal at•eThts For the year ended 31 Oe(ember 2022
Contents Relerentè and admlnlstratl¥È detsllsofthe tharrty, its tnrtee5 and ath Tnte$ report Indep*ident Examlnerfs report Stat•nwnt of finamial •rtivit BalaKe Sh•et
For theyearended 31 DeCemr 2(122 The Rtht Honourable Sir lain Dunc3n Smith MP IrKe Presldent Brendan Finucar* KC Mr T Philpot Ichairmanl Mr T Robetts (Vice Chalrman) Mrj Sklllman rrreasurerl Mrj Donovan Mr D Goklstein Mr P Mannlng MF M Frlel Mr G Clark Rwlslered Charlty nurnb 1182040 Prlndpwl Olfk• 5utton's HOL 119- 121 Suttons Lane Homthurch RM12 6RU IndepÈndent •xan Mr A Currev Natlonal Westmlnster Bank pk 120- 122 Hlgh Street Hornchurch Essex RM12 4UL
TYustÈeg report The Tnjstees present thelr annual p)rt t(Wlwwlththe finarxial ststements of the Charlty HonKhurth AerrKlrome Histori(al Tntst CIO theyear l January 2022 to311)Ècèmber 2022. The Charity operates under the name ofthe IIAF Homchurth Heiiiage Cent. Oblectl¥es and Atbvrti¢s The objects of the Ch) called HwnchurthAer(xlrome Historlcal Tnt are: l. To advance the educatiryb olthe public in the htOry01 Hornthuyth Aeradrome and Its place in the defen¢e of the United Klngdom thrShoUt its operational life by the establishment and maintenance of a herltage ontre 2. To promote the effldew ofthe Amied Fof¢es ol the Crown. a(fvance edUCath and promote 8ood dtlienshlp •mon8Stthe public by commemoraiin8the pllots and petsne1 who served at Homchurch Aerodrome and the local civilians who supported them in suth way5 as the trustees see frt. In plannlftg our objectives for ihÈ year. theTnJstees have ensurÈd they ha tomplled wfth the duty In S.17 of the Charities Act 2011 and kept in mind the Charity Commissirm's ZUKIan on public benefit. To achieve it5 objectives, the Charity operates the RAF Hornthurch Heritage Centre as an educational herita8e site tothe general publlc at weekends and to School and Private Groups durtng the week. The Charity also attends local events wlth a mobile display and SIts khools ILY dedicat presentatlons. Flnally. theTrust seeksto reCogne and commemorate Homthurth Aercthome. rts personnel and Arnd Forces ofthecrown bythe ganIsatIon of spe¢rfK events suth as art annual Remembran Sei¥i¢e at Herrta8e Centre. The Charlty offk5allyopened the RAF Homdwrth Herlta8e Centre tothe publfic In June 2021 wlth the forn1 opening of the Herita8e Centretak¥ng place on the 19, September 2021 by "r Chief Mayshal Sir Michael Graydon GCB CBE. 2022 became the first full yearof opEration during which time the Herilagecentre erVed a total of 2.568 visitors which includéd 15 schools. 13 youth gr(p$ and 11 adutt groups. Development of the Heritage Centre a150 continued with the compl10n and forn)al openin8 ofthe Amerlcan Room in an outside building which paid homage to the US rny Air Force crews ftying Irom Vlillile. Chlpplng Ongar and the unvellin8 of a new Airfld Marker stone dedKated to all units ar per50n31 WI served at Hrynchurth {Suttons Farml Aerodrome byAirfields of Britain Con5er¥ath)n Trust on the Herila8e Centr¥s second annual Bathe of Britain Open day. The Charity was also succe55ful Én securin8extemal funding from the National Lottery Herr(aBe Fund for £8.5(W) and the Robert CharitsbleTrust for QLKXJ which will greatly assist the Heiitage Centre to develop tts webte. purchase repllca fmng helmets and unrfom)s for school vlsbts. purchase a replka Sp¥ffiYe cockpit and to prrrtluce a sdKK4 WO book to enhancè our school visit offering. Ftnalty, the Heritage Centre hosted its second annual Rernembtse Day in NeMber. In summary. 21r22 was a very successfvl year for the ChaTtywhich ha5 continued togofrom strength tostrenBth. The Charity wa5 registered as a Charttsble (trnisatior•on 14 February 2019 and itsgo¥eming document is its constitutio Pr*InflI
The management ofthe Urity isthe responsibihty oltheTrustee5 wtrmj areetected and ctropted underthe term5 of the constFlulion. Accoun Pthv The Charivs accounting poficy for the preparation of its annual repryt arxl firtancial statsments is on the Accsuals basis in accordance with the SORP to pmvide a true and fair vtrew of the artivities of the tharity. Rlsk Managèment The Trustees have assessed the major Tisks to which the Charity is exposed and are satiSfd that systems and procedures are in place to miti8ate its exposure to Ma1 ri5k5. The Charws pollcy on resen$ be summari5ed as". l. To rnaintzin an agreed reserve amount as a contingery for emergency requirements in a liquid fomiat for Immediate attÈss. Thls Is currentty set at £5.(m and is maintsined a5 a minimum account balaft. 2. To undertake regular review oras may be required of the Charivs reser¥e amount to ensure it is proportionateto the on8oint needs of the CharSty taking it)to consideration but r exdvs1ve weratk)nal reqLtiiements. funding requirements. risk mrtall0ft. Worki capital and financial dimate. 3. To allocate specifK feser¥es for 5pecrfK 0Cts or purpD5e5 as may be reqred to ensure that the on8oln8 operation of the Charity 15 not irrwacted. 4. To regularty monltor and fevlew effeCtl¥eOf the Fmilky In the118ht of the ¢han8lr4g fundlng and financial climate and any other assooed rlsk> TheTrustees are responslblt for prepwlngthe Tntee5. iepcrfl and the finandal statements In accordance wlth appllcable law and Unlted KIadOM kcountbrKg Stsndard5 (Unrted Kin8dom Generalty Actepted Accountin8 Prartitel. The law applica to thaTitles In England ab)d Wales requiresthe Tnte5 tr• prepare finandal statements for each financial year which 8r¥e a true and fairview of the stste of affairs of tl Charity of the incoming resour and application of resources of the Charity for the period. In preParitheSe financial statements, the Trustees are requlred to: • selert sultsble accounting Fdities and then appty them consi5tentfy' observe the methods and principles in the Charities SORP: make jLMIKements and accountin8 e5ts"mate5 that are reasonabbe ar wudenL" prèpare the financial sLitewnts cfft the8oryconom basis unless it is inapprowiate to presuine that the O)arity wlll contlnue In operati( The Trustees are responsible lor keeplng proper accounti records that are suffitient to show and explain the Charwstransattlons and dlsclose wtth reasonable accurxy at any Ilme theftnandal [ltIOn of the Charity and enable them to ensure thatthe financial 5tstements comply wrth the chaffti.es Act 201L the Charlty (Accounts and Reports) Regulations and the provisions of the trust deed. TheYa a150 responsible for safe8uardir the assets of the Charity and hence for taking reasonable steps forthe prevention of fraud and other Irregul3ritle& This reportwas completed on 13, FebTuary 2023 al was subsequently appr( by the Trustees and has been SIgF on their behalf. Mrj Sklllman ACIB Trerer and Trustee
Indewmkrt Examlnerfs report Foryear ended 31 DeTrther 2022 I reportto the (harity Trustees on my examInatic of the accounts ol the fhrlty H(wnchurch Aerodrome Historical Tntst for the year ended 31 Dfftber 2022. This report is made solely to the Charivs Trustees. as a trK)dy. ift accordance with Part 4 of the Charities (Accounts and Reports) Regulations 28. My work has been yndertaken so that I might state to thè Charit¢s Tnjstees those matters l am required to state to them in an Independeni examinerfs report and for no other purpose. To the fullest extent permitted by law. I do not atrept or assun rewnslNlity to Jnyone other than the Charltvs Trustees a5 a bo, for my work OT for this reFw)rt. R•sponAAlltles and b•sls ot rewt As the Trustees of the tharlty yOLk are respOnsIb forthe preparatkm otthe accounts in accordan wlth the requlrements of the ChantSeskE 20111tr 2011 ACVI. I report respect of my examlnatlon of the Charit¢s Accounts Car out under sectlon 145 of the 2011 Act and in carrying wt my examination I ha¥e followed am the applicable 'TedIonS given bythe Charlty Commssion under section 1451SMbl of the 2011 Aa. Indpenderteyamlnef55tatemert Your attefttion 15 drawn to the fart that Charrty has prepared the attounts in accordance with Accounting and Reporting by Charr¢ies'. Statement of Recomrnended Practice applKable to chorities preparing their a¢¢ounts in accordance with the Financial Reportin8 standard appllcable in the UK and Republic of Ireland IFRS 1021 In preference tothe Attountin8 and Reporting by Charities.. Strtent of Rec4)mmeNSed Prartke Issued on l Aprll 2¢X)5 which is TefefTÈd to in the extent regulations but has been withdrawn. l undefstand that thi5 has been done in order for the attounts to prAde a tn and fair wew in acc<Ydance with the Generally Accepted Accounting Prartice effective for reportin8 1ClS tginning on or aftèr l January 2015. I have completed my examinats"on. l confirnithat no mattefs ha4 wme to my attention In connertion wlth the exarninatlon 8i¥in8 me cause to beliLwe that in any material respect l. actountin8 retords wert not kept in respert of the Charity as required by sertion 130 of the 2011 Act. or 2. thÈ accounts do not accord with ih05e Tecords; ( 3. the accounts do not comt4y with the appllcab* reqLttYerncnts t(Cem0&the forn) and content of acctyjnts set crfrt in the Charitie51Accovnls and reports) Relations 2(8 other than any requirement that the accounts Ive a Irue and fairf view which is not a matterconsidered as part of an independent examination. I have ThoucernS and ha¥e C0ft roSS no other mattets in Connect with the examination to which attention should be drawn In thls reFKrft In orderto enabSe a proper undetstanding OF the accounts to be reached. Signed Dated ia" FebTuary 2023 MY A Currnv 105 iaburnham Walk. HorFthurch. RM12 SRI 12
HornchurrhAerothome Hlstorkal Tn(10 Statement of fln•Klal actl¥ld For ended 31 Detekn2022 Total fvnds Total fvnds 2021 nd5 Intomefrom: Donatlons and legxles Othertrading artMbe5 Investments Total Income 15.234 3.285 412 612 33201 4201 18.519 Charitable actlvltles Totsl Expendhure 17338 17338 17338 17338 Net 1Me/{ex11tUrej before other recogthsed galns and N•t M0m•nt kn funds 8,875 8.875 Reconcilialion of fvr4ds Total fund5 brov8ht forward Total funds urrfed forwanl 14025 7.ISO 16.025 All actNitse5 relate to continuinBoperations and reflert the combwRd operatw of the Charrtv. Balancè sheet As at 31 DÉcember2022 2021 Axed ass•ts Tangible assets Investments Total 17984 ia,285 17384 1328S Cuir•rt wts Debtors Cash at bank and tn hand GiftlSouveniT Stock Tea Room stock Corporate Wearstock io 36.177 219 18.773 296 237 .180 Amounts due wf(hin oneyear Net Current assets 35.193 51177 19,180 32.465 Chaffty Funds Restrirted fvnds Unrestricted funtts 32,465 32.465 4177 Jots7nf1?
Notesto financial statemknts For the year ended 31 Decem2021 The financial ststements have been prepared under the historical oist conve wlth items recognlsed at t05tor transartn value unless OtheSe ststed in the relevant notesto these 3ccounts The financial statements have been prepared in accordan with the Statet of Recommended Practice.. Accountingand RewJrtin8 by Charities preparin8 their accr)unts in accordance with the Financial Reporting Standard applicable in the UK and Republrc of Ireland IFRS 102) issued on 16July 2014 and Financlal Reporting Standard appllcable In the United KtnKd(Nn Republlcof Iweland {FRS 102) and awltles Act 2011. Homthuf¢h Aerodrome Historkal Trust aoconstitutes a wJblK benefftentity a5 defined by FRS 102. All income Is recc£nised once the Charity has an entitlement to the iTKome. It Is wobable that the Incomewlll be received and the amount of income receivable can be measured accurately and reliabty. 1.3 Expendltu Expendlture is recognlsed ore there Is a legal or constructive obll8atlon to transfereconomk benefrt to a third party. it is probable that a translef of economic beneffts ¥wll be required in settlement and the amount of the lgatIOn can be measured reliably. Charitse activtiies afe costs incurred on the Chartty's operations, In¢ludln8 purthase of artefatts. SilFlWt costs and costs relatlr to go¥erne ofthe Char5ty. A revlew for lmpa1rnnt of a fixed asset Is carTled tyjt K nts In drcumstsnos Indlcate that the carrying value of a fixed asset may not be recoverable. Shortfalls between the orryin8 value of fixed assets and thelr reco¥erabte arunts are reco8nlsed as impalmients. Impairnvrt losses are reco8ni5ed in thè Statement of financial actNitses. Tangible red assetsare carried al cost. net of depreciation and any p¥ovision for impaimieni. Depreciation is provKled at rates (akulated io wiite off the c05t of fixed assets. less their estlmated residual value. thelrexperted wefvl onthe follNfing bèsts: Furniture. aThl ewMpment- ItfA per annum 5trai8ht line. The Trust exhlblts artefaLts that been donated to theTrustkn il was a Society wior to becoming a Trnst and a Rew"stered Charfty. The Val otthe5e artefacts Is not irKJuded wrthin the fixed 35sets of the Charity on the basis that to deterniiro an accurate value woukl prove diffKult 3nd costly. This additiorsal cost would not create a benefft to U5er5 01 firtancMI accounts in a55e55irw stewardship ofthe Charitrfs assets. The Trust formally received the gener(s81ft of the Freehokl property kn(ywn as Suiton's House. 119- 121 Suttons lane, Homdwrch, Essex RM12 6RU in No¥ember 2020from 8etWT Home5 Limited to operate the Heritage cent from. However asthis fixed asset was acquired at no charge and is otherwise subjertto a legal covenant whith prebEnts the Trust from 5ellin8 ¢ value is attad to thi5 fixed zsset in the financial PALwAnf14
Interest on funds herd on dewslt Is Induded when recefvable and the amount can be ffasured rellabtrl bv the Charity. This is normal upon notification of the interest paid or payable bythe Bank. L6 Debto Trade and other debtors ue recognised atthe settlement amount after any trade discount offered. epayments a valued atthe annt prepaid net of any trthdi5cJ)unts due. L7 liabilitie5 and provis¥ Liabilities are recoBnised wn there ts an at the Balance sheet date as a result of a pastevent. It is probable that a transfer of economic benefrt 16 be required Trn 5ettlemenL and the amount of the settlement can be estimated reliably. Liabilitbes are recolSe at the amount that the Charityanticipate5 it will pay to settle the debt or the amount it has received as advaed payments forthe go(x45 or services Ft must provide. Totsl fvnds Total funds 2021 funds Entrance fees Membprshlp fees (Annual) Membership fees ILifetimel khool Vlsit fees Group Vlsit fees Donations- Other Donations- Events Donations- Raffles Extemal Fundin8 Total 7A57 7.457 4.516 2.130 3W3 2,1(Kl 793 L087 438 277 1773 773 00 15,234 Donations lotherl was derived from thefolltiwngsources." 2021 Ensign Bu5 Public donations Collection tins Total 750 278 1.087 1773 External Fundsr National Lottery Heritage Fund Robert Gavfon Charwtable Tn Total Pa••qrtf 14
The TrustW4s succèssful in securing external fundin8 fT(xn the NatM)nal Lottwy Herita8e Fund with a Grant of £8.5(Klfor DigTrtal Outptrt1£5JMKII. Historic31 artefacts lQ.(Wl and Educational items {£L5001 and the Robert Gavron CharitsFAe Trust for £2.rx#). Whilst the Heril<e Fund Grdrrt of £85(Kl was sanrtioned and drawn dn during 2022. an outstanding amoLmt of c£6. remains to be swbt during 2023 to complete 2 of the 3 projects which hès been intluded W[l"n erlIre. The completi report and EvaluatFon report are due by expiry of the Grant on 30 September 2023 falli whi(h the unspent fL¢nds will require to be ietumed. As a precaution. this amount has been placed in a ReseNe bank acc(MJnt for safe keeping. To Total funds 2021 fvnds fvnds Giftlsouvenir net inccrfne Refreshrnent net irKome Artef¥rt disposal net income Bank Gesture of GooLtrwlH Bank Interest Totsl 345 2.425 465 1910 1910 1.181 4.612 4.61Z 3.285 Artefart di5P05al net income represents prirfs, kwk5. and other artefacts donated to the Trust hith are then on sold to the publk at no cost to theTrust. Such items arè only sold with the prior permtsslon of the donor and where the Trust alreatty hasa coyi or the artefart does not allgn wrth the dIsplaytheS ofthe Herltw Centre. Othertrading artivities relate to the sale of gFfts. 50uvenir5 and liBht fefreshments totlbttors at a small margin which contributes loward5 the oTall income folkJw5: 2021 2021 GIft/sry•nor 1•5 Less cost of sales Openlng stLKk Punhases Less Closing stock 196 1296) 264 34S Grots Profft Ilncomej 3.438 Opening stk Purchases Les5 aoslng stoc* 1,124 {iii} 1.013 2.425 Gr055 Profft Ilncome) 2.910
Total funds 2021 funds funds Insuiance Ele¢trficlty Ga5 Water Business Rates Legal fees External certificatk)n Printing, Postage and ststion Website fees Card Pentfee5 Fuel Opening Oay costs Remembrance Day costs Prowty Improvements MaintenarKe Fixtures and ringS Depreciation 2279 £528 1279 L528 1.413 390 32 107 59 593 15 744 234 732 1.715 619 23 6,48Y L78B 1709 17J38 2.709 17J38 Total Mater6al chan8es for 2022 reflect an Incr&ise In Flxtures and fftt15 as • result of the purthase of a replacement boller at £5.615 and a Teduction In Gas as a result ol an on8olng155ue vAth the Ga5 suppller Irotal Energy) who due to a technKal Issue has not debited the Tt. T¢)tal Ener8V is still investigating the issue but are aware the Trust has the funds to ¢over the 8as supplied orte resolved with continued suppty not belng an Issue. The amount due has been e5tim¥ted at £1,5(Kl and has been Included In the balance sheet as a cred( (Note 111. TheTn ha5 o 3>wrftd c¢ntr3rt on suppl¥th ends In November 2023. 2021 Number of trusteeSW re pald expenses Natu ofexpenses Total mOt pakl During the year. no Tnts rtcei¥ed any remunerati(m orary berth In kknd. there were tran5acilons with related parties and there paid emrAoyees or Fvtsion sdme paymert512021- Nill. 6. Net IncomelExpendfttwe This is stated after chargin 2021 Depredatlon of tanglble fixed assets 1.715 P#•11 nf 14