Charity number.. 1182793
ASTON MARTIN HERITAGE TRUST
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

ASTON MARTIN HERITAGE TRUST
CONTENTS
Page
Reference and Administrative Details of the Charitable Incorporated Organisation, its
Trustees and Advisers
Chairman's Statement
Trustees. Report
Independent Examiner's Report
Statement of Flnanclal Actlvltles
10
8alance Sheet
Statement of Cash Flows
12
Notes to the Financial Ststements
13-28

ASTON MARTIN HERITAGE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE INCORPORATED ORGANISATION.
ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Trustees
Mike Abbott
Tim Collingham
Mark Gaunllell
Marek Reichman (resigned 21 March 20231
Rob Smith, Chairman (resigned 20 August 20221
Garry Taylor, Treasurer
August von Joesl
John Warden, Chairman
Tom Westley
Steve Waddingham lappoinled 21 March 20231
Tamalie Newbery (appointed 21 March 2023)
Charity registered
numbgr
1182793
Principal office
Drayton St Leonard
Wallingford
Oxfordshire
OX10 78G
Secretary
Sue Gibbons
A￿OuntantS
James Cowper Kreslon Audit
Chartered Accountants
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG19 6AB
Bankers
HSBC
44 Upper High Street
Thame
Oxon
OX9 2DW
Barclays Bank PIC
Abingdon
Oxon
OX25 1UB
Solicitors
Helen Harvey, Charity Consultant
Barlow Robbins Solicitors
The Oriel
Sydenham Road
Guildford
Surrey
GU1 3SR
Page 1

ASTON MARTIN HERITAGE TRUST
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2022
The chairman presents his statement for the year.
During this financial year the AMHT continued lo build on its recovery from the lockdown period and develop tts
longer-lerm plans. The Board has agreed a strategy with a vision to be the global aLJthorily for Aston Martin
Heritage, and the AMHT is investigating ways lo reach out beyond the UK,. one such example is the
commissioning of a Matterport 3D scan of the Museum interior which can be accessed from the new AMHT
webstte.
Following the success of the first such event in June 2021, the AMHT, led by Rob Smtth, organised the second
Aston Martin Heritage Festival at Brooklands in August 2022,. despite the high temperatures, the event was
successful, with over one thousand visitors, the largest display of pre-war Astons in many years, and publicity in
Octane magazine and elsewhere. Although marginally profitable, there is considerable logistics in running these
Festivals and the Board is examining ways to redu￿ this for future events. In September the AMHT also had a
stand at the Goodwood Revival which usefully reached a new audience.
We welcomed two new staff members in March 2022 to provide administrative support and a new role of hosting
Museum visitors. Over the year, the staff have developed into a close-knit team and now operate the Museum
and Collection with less direct input from Trustees. We intend lo build on this lo allow the Board to concentrate
on strategic and governance issues and allow the staff team to manage more of the operational activities. The
hosting role has proved very successful, with good feedback on TripAdvisor.
The Board continued to examine options for relocating from the Barn, WTth some publicity locally about the
Newport Pagnell sile. This options work will continue into 2023. Towards the end of the financial year, relations
with AMOC improved subslanlially and we were lo discuss positively a number of issues around finances, use of
the Barn and joint working which had not progressed for some time.
In August 2022, Rob Smith stood down as Chairman and John Warden was elected to the role. The Board
wishes to thank Rob for his tireless support for the Trust as Trustee and Chairman.
] M WArJe
John Warden
Chairman of the Board of Trustees
Dale..
Jul 24, 2023
Page 2

ASTON MARTIN HERITAGE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2022
The Trustees present their annual report together with the financial statements of the Charitable Incorporated
Organisalion ICIOI for the 1 October 2021 to 30 September 2022.
The Trustees confirm that the annual report and the financial statements of the Charitable Incorporated
Organisalion comply wtth the current statutory requirements, the requirements of the Charitable Incorporated
Organisalion's goveming docLJment and the provisions of the Statement of Recommended Practice ISORPI,
applicable lo charities preparing accounts in accordance wtth the Financial Reporting Standard applicable in the
UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191.
Objectives and activities
Objectives, actvities and disclosure of public benefit
The Aston Martin Heritage Trust is a Charitable Incorporated Organisation, chartty number 1182793. Its aim is-.
The advancement of education by making available for study, research material of all types relating to the
automotive engineering and automotive designs of Aston Martin Lagonda I'the Marque'l for the benefit of the
public including reports, documents, drawings, artefacls and any other material including the history of the
companies, products and personalities associated with Aston Martin Lagonda.
The Trustees have had regard to the Charity Commission's guidance on public benefit.
Strategies for achieving objectives
The strategies employed by the AMHT lo achieve these aims and objectives are..
The development of a world-class museum, dedicated solely lo 'lhe MarqLJe
The development and maintenance of the definitive archive relating to 'lhe Marque,;
To produce 'The Register of Aston Martin,, an online database referencing every car made by Aston
Martin and Aston Martin Lagonda from 1913 to dale-
Make accessible to the general public the Collections Catalogue, an online database of objects,
photographs and documents held by the AMHT.,
Publication of an annual joumal ASTON, a quartedy Newsletter and other books or articles covering the
history of 'lhe Marque,;
Producing a Lecture Series addressing both past and present topics relating to Aston Martin-,
Collect, maintain, and conserve motor vehicles relevant to the history of Aston Martin and Aston Martin
Lagonda Ltd. and associated artefacts.,
Collect and maintain or conserve as appropriate archive ttems relating to the history of Aston Martin and
the people, companies and organisalions associated with that history.,
Pul on display as many of the objects, artefacls and archive items in its care as it is safe and practical to
do so and, where appropriate, demonslrale the Museum's operable objects at events both on and off the
Museum's site.,
Make available lo researchers, authors and other interested parties, access to the Museum's collections,
and encourage the publication of articles and books on all aspects of the history of Aston Martin.,
Use the Museum's displays and collections as the foundations for formal and informal learning activities
on and off the Museum sile, especially through the creation of new and upgraded exhibitions.,
Grow public visitor numbers through..
Promotion using print advertising and editorials.,
Promotion through digital and social media such and our own website-,
Promotion through our own events such as the annual Aston Martin Herttage Festival and
others.,
Organising others events targeted at Aston Martin enthusiasts, motoring enthusiasts, and
general audiences.,
Page 3

ASTON MARTIN HERITAGE TRUST
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Objectives and activities {continuedl
Grow corporate, group and hospilalily visitor numbers through..
Promotion using print and digital media advertising-
Allendance at hospilalily and tourist industry events.,
Extend our reach beyond the UK lo a more global authority on Aston Martin Heritage.
The maintenance of members, funding flows via the Aston Martin Owners Club and benefactors which
enable the Trust lo meet ils objectives.
Achievements and perfomiance
The Museum
We are back lo opening 3 days a week plus occasional Saturdays, with approximately 200 visitors per month.
Museum entrance is complimentary for AMHT Supporters, employees of Aston Martin Lagonda and AMOC
Members.
The Museum has changed a lol over the years. It started with just 3 cars (Ulster, AMR1 and a Lagonda} lo the
current display of 7 cars that includes pre-war, Feltham, Bloxham & Gaydon. We currently hold 25 cars, which
some are in secure storage. These cars are rotated on a regular basis lo show in the museum where space
allows.
Digitising the Register and Registrar assets
We are continuing to digilise the paper records of the Master Register although many months of scanning is still
ahead. We now have a growing shared digital archive of build sheets and have a comprehensive archive of
photographs of chassis idenlificalion marks. Vve will both be collecting more photographs lo assist with future
services for the DVLA and overseas vehicle registration agencies.
V765 and other DVLA services
The AMHT has been, since ils inception, the DVLA'S prescribed organisation lo provide evidence and advi￿ on
the registration of historic Aston Martins. This mostly involves the provision of providing dating evidence and lo
support cars through the V765 scheme. Dating evidence or 'dating lellers, are provided for individual cars so that
the DVLA has an accurate information of the age of a vehicle so that the correct Vehicle Excise Duty is charged.
The V765 scheme is an extension of this whereby we provide evidence and support the application by an owner
lo have the original UK registration number reassigned to a car that may have lost il over lime.
Education and Learning
Since ils fomialion, AMHT has always provided education in all things Aston, through the museum, archive
services, publishing and public lectures. However, the Trustees for some lime have wished lo do more in the
education field and ulilise the assets the Trust holds. Although delayed by other mallers during 2022, the AMHT
will now continue to expand ils education remit lo provide more active engagement with the public, schools and
employers in the Aston Martin community.
A continuing concern of the Trustees is the skills shortage in engineering and manufacturing, which impacts the
ability to maintain and restore our cars. Hence AMHT is working with other partners which support apprentices
and skills development such as.. the Heritage Skills Academy, which trains apprentices in heritsge skills,. the
Federations Skills Trust, which provides grants lo support automotive apprenticeships,. and Slartermolor, a
charity which encourages young people to engage with heritage motoring. Working with these partners, AMHT
aims to encourage, support and signpost employers and apprentices in the AML community to maintain the skills
needed in our heritage sector.
Page 4

ASTON MARTIN HERITAGE TRUST
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Financial review
The Trust receives its principal funding from subscriptions and donations. The major source of income remains
the Aston Martin Owners Club by which we received £163,924 as part of our £271,688 total income.
As mentioned, the total incoming resources for the year are £271,688 12021.. £275,454). Total resources
expended in the period were £256,301 12021.. £265,194) and the resulting net surplus was £15,387 12021..
£10,260). The free unrestricted fund balance {excluding fixed assets) al the end of the period was £304,144
12021.. £298,035}.
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt
the going concern basis in preparing the financial statements.
Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
Reserves policy
The Trust aims to have a minimum of 6 months operating expenditure in liquid reserves at any one time in
addition lo reserves maintained to meet specific projects. Reserves dedicated by the donor to a specific project
may be treated as restricted funds. In the year to September 2022 free reserves amounted to 12 months of
operating expenditure, which the Trustees believe lo be prudent. The balance of the restricted fund on 30
September 2022 was £nil.
Material investments policy
The Trustees follow an investment policy lo optimise investment income consislenl with the secure maintenance
of capital.
Page 5

ASTON MARTIN HERITAGE TRUST
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 30 SEPTEMBER 2022
structure, governance and management
Constitution
The Trust Iregislered charity number is 11827931 was originally consliluted by a deed dated 5 August 1998, with
modifications dated 23 August 2000 and 14 June 2004. In 2019 the Aston Martin Heritsge Trust became a
Charitable Incorporated Trust and the assets, property and challels from the previous unincorporated Trust were
transferred over in according with a general vesting declaration dated 1 August 2019 signed by the Chairman
and a Trustee.
Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the
terms of the Trust deed. Up to eleven Trustees can be appointed.. up lo seven may be co-opted by virtue of their
personal or professional qualifications by the existing Trustees,. up lo two are nominated by Aston Martin
Lagonda Ltd,. and up lo two are nominated by the Management Committee of the Aston Martin Owners Club.
Policies adopted for the induction and training of Trustees
New Trustees are given induction packs, together with an induction session which takes pla￿ al the Trust's
headquarters al the Barn in Oxfordshire.
Risk management
The Trustees are responsible for the management of the risks faced by the Trust. Risks have been identified,
assessed and controls established, and a fomial review is undertaken periodically. We continue to keep systems
and procedures under review, and these appear to us lo be appropriate lo the Trust's size and the nature of our
operations.
Future plans
Firstly, the AMHT have decided to become an accredited Museum in order lo demonslrale and maintsin the
quality of care and security that the archive and collection deserve. To start this process, we have applied for,
and been awarded, 'Working Towards Accredilalion, status with the Arts Council, which is a Ihree-year project of
quality improvement and organisalional development to achieve Accredilalion. This will give us significant
credibility in the museum sector, give you confidence that we are looking after the archive and collection, and
allow access to heritage grants and inler-museum loans.
Secondly, the Barn al Drayton St Leonard has been the AMHT'S home from our inception and the 13th century
barn has been a fascinating sile- but now il is loo much of a challenge and is a serious restriction to us growing
and fully achieving our charitable goals. With over Iwenty-five years of acquisitions, we have outgrown by some
margin the room available. Therefore, with much sadness, we do need lo move out of the Barn. The Trustees
have set a deadline of six years lo relocate so work is ongoing on a credible business case for relocation.
Page 6

ASTON MARTIN HERITAGE TRUST
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 30 SEPTEMBER 2022
statement of Trustees. responsibilities
The Trustees are responsible for preparing the Trustees, Report and the financial slalements in accordance with
applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally A¢￿pted Accounting
Practice).
The law applicable lo charities in England & Wales requires the Trustees to prepare financial statements for
each financial which give a true and fair view of the slate of affairs of the Charitable Incorporated Organisation
and of its incoming resources and application of resources, including its income and expenditure, for that period.
In preparing these financial statements, the Trustees are required lo..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP IFRS 1021.,
make judgements and accounting estimates that are reasonable and prudent.,
stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material
departures disclosed and explained in the financial stalemenls.,
prepare the financial statements on the going concern basis Ljnless il is inappropriate to presume that the
Charitable Incorporated Organisalion will continue in business.
The Trustees are responsible for keeping adeqLJale accounting records that are sufficient lo show and explain
the Charitable Incorporated Organisation's transactions and disclose with reasonable accuracy al any lime the
finan￿al position of the Charitable Incorporated Organisation and enable them to ensure that the financial
statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the
provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charitable
Incorporated Organisation and hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by..
] M WArde
John Warden
Chairman
Dale..
Jul 24. 2023
Page 7

ASTON MARTIN HERITAGE TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Independent Examinerfs Report to the Trustees of Aston Martin Heritage Trust I'the Charitable
Incorporated Organisation'l
I report to the charity Trustees on my examination of the accounts of the Charitable Incorporated Organisation
for the year ended 30 September 2022.
Responsibilities and Basis of Report
As the Trustees of the Charitable Incorporated Organisation you are responsible for the preparation of the
accounts in accordance with the requirements of the Charities Act 2011 I'the 2011 Act'l.
I report in respect of my examination of the Charitable Incorporated Organisation's accounts carried out under
section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by
the Charity Commission under section 14515llbl of the 2011 Act.
Independent Examiner's Statement
Since the Charitable Incorporated Organisation's gross income exceeded £250,000 your examiner must be a
member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination
because l am a member of Institute of Chartered Accounlanls in England and Wales, which is one of the listed
bodies.
Your attention is drawn to the fact that the Charitable Incorporated Organisation has prepared the accounts in
accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 102) in preference lo the Accounting and Reporting by Charities.. Statement of
Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations bul has been
withdrawn.
l understand that this has been done in order for the accounts to provide a true and fair view in accordance wtth
the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come lo my attention in connection wth the
examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the Charitable Incorporated Organisation as required by
section 130 of the 2011 Act., or
the accounts do not accord with those records., or
the accounts do not comply with the applicable requirements conceming the form and conlenl of
accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fairf view which is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other mallers in connection with the examination lo which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Page 8

ASTON MARTIN HERITAGE TRUST
INDEPENDENT EXAMINER'S REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2022
This report is made solely to the Charitable Incorporated Organisation's Trustees, as a body, in accordance wtth
Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might
stale to the Charitable Incorporated Organisation's Trustees those matters l am required to stale to them in an
Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept
or assume responsibility to anyone other than the Charitable Incorporated Organisalion and the Charitable
Incorporated Organisalion's Trustees as a body, for my work or for this report.
Signed..
Michael Bath
Dated.. 25 July 2023
Bsc FCA DChA
James Cowper Kreston Audit
Chartered AccoLJnlanls
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG19 6AB
Page 9

ASTON MARTIN HERITAGE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Restricted Unrestricted
funds
funds
2022
2022
Total
funds
2022
Total
funds
2021
Note
Income from:
Donations and legacies..
Donations
Grants
Subscriptions
Donated servI￿s
Charitable activities
12,899
4,000
167.574
12,899
4,000
167.574
12,271
15,143
155,774
23,400
53,961
14,893
12
66,294
20,823
98
66,294
20,823
98
Other trading activities
Investments
Total income
271,688
271,688
275,454
Expenditure on:
Raising funds
Charitable activities
9.751
244.557
9.751
246.550
11,849
253,345
1.993
Total expenditure
1,993
254,308
256,301
265,194
Net movement in funds
11.9931
17,380
15,387
10,260
Reconciliation of funds..
Total funds brought forward
Nel movement in funds
1,993
11,9931
856,443
17,380
858,436
15,387
848,176
10,260
Total funds carried forward
873.823
873.823
858,436
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 13 to 28 form part of these financial statements.
Page 10

ASTON MARTIN HERITAGE TRUST
BALANCE SHEET
AS AT 30 SEPTEMBER 2022
2022
2021
Note
Fixed assets
Tangible assets
Heritage assets
15
16
21,811
547,868
13,181
547,220
569,679
560,401
Current assets
Stocks
17
12,007
81,770
268,161
7,006
74,226
238,383
Debtors
Cash at bank and in hand
18
361.938
319,615
Creditors.. amounts falling due within one
year
19
(42,2691
16,5801
Net current assets
319.669
313,035
Total assets less current Ilabllltles
889,348
873,436
Provisions for liabilities
20
115.5251
115,0001
Net assets
873.823
858,436
Total net assets
873,823
858,436
Charity funds
Restricted funds
21
1,993
856,443
Unreslricled funds
21
873,823
Total funds
873,823
858,436
The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by-
] M WAtJe
John Warden
Chairman
Dale..
Jul 24. 2023
The notes on pages 13 to 28 fomi part of these financial statements.
Page11

ASTON MARTIN HERITAGE TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
2022
2021
Note
Cash flows from operating activities
Nel cash used in operating activities
24
47.333
2,148
Cash flows from invosting activitios
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Purchase of heritage assets
98
1,000
{18,6531
12
12,6491
12,2351
Net cash used In Investlng actlvltles
117,5551
14.8721
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
29,778
12,7241
241,107
238.383
Cash and cash equlvalents at the end ofthe year
25
268,161
238,383
The notes on pages 13 to 28 fomi part of these financial statements
Page 12

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 2019}, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair, view and have departed from
the Charities (Accounts and Reports} Regulations 2008 only lo the extent required to provide a 'true
and fair, view. This departure has involved following the Charities SORP IFRS 102) published in
October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended
Practice effective from 1 April 2005 which has since been withdrawn.
Aston Martin Heritage Trust meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised al historical cost or transaction value unless othe￿iSe staled in the
relevant accounting policy.
1.2 Fund accounting
General funds are unrestricted funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the Charitable Incorporated Organisation and which have not
been designated for other purposes.
Reslricled funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the Charitable Incorporated Organisalion for particular
purposes. The costs of raising and administering such funds are charged against the specific fund.
The aim and use of each restricted fund is set out in the notes to the financial stalemenls.
Investment income, gains and losses are allocated to the appropriate fund.
Page 13

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Accounting policies Icontinuedl
1.3 Income
All income is recognised once the Charttable Incorporated Organisalion has entillemenl to the
income, il is probable that the income will be received and the amount of income receivable can be
measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of
re￿Ipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of
entillemenl to a legacy exists when the Charitable Incorporated Organisation has sufficient evidence
that a gift has been left to them Ithrough knowledge of the existence of a valid will and the death of
the benefaclorl and the executor is satisfied that the property in question will not be required lo
satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that il will be
received and the fair value of the amount receivable, which will generally be the expected cash
amount lo be distributed to the Charitable Incorporated Organisation, can be reliably measured.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of
income received for specific purposes but not expended during the period is shown in the relevant
funds on the Balance Sheet. Where income is received in advance of entillemenl of re￿ipl, tts
recognition is deferred and included in creditors as deferred income. Where entitlement occurs
before income is received, the income is accrued.
Gifts in kind donated for distribution are included at valuation and recognised as income when they
are distributed to the projects. Gifts donated for resale are included as income when they are sold.
Donated facilities are included al the value to the Charitable Incorporated Organisation where this
can be quantified and a third party is bearing the cost. No amounts are included in the financial
statements for services donated by volunteers.
Donated serVi￿S or facilities are recognised when the Charitable Incorporated Organisation has
control over the item, any conditions associated with the donated item have been met, the receipt of
economic benefit from the use of the Charitable Incorporated Organisation of the item is probable
and that economic benefit can be measured reliably.
On receipt, donated professional services and donated facilities are recognised on the basis of the
value of the gift to the Charitable Incorporated Organisation which is the amount the Charitable
Incorporated Organisalion would have been willing to pay to obtain services or facilities of equivalent
economic benefit on the open market., a corresponding amount is then recognised in expenditure in
the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation.
Income lax recoverable in relation lo investment income is recognised at the lime the investment
income is receivable.
Page 14

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Accounting policies Icontinuedl
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, 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 aclivily. 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 lo 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 allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the Charitable Incorporated
Organisation to raise funds for ils charitable purposes and includes costs of all fundraising activities
events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charitable Incorporated Organisation's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Charitable Incorporated Organisalion,. this is normally upon notification of the interest
paid or payable by the Bank.
1.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £250 or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate
that the carrwng value of any fixed asset may not be recoverable. Shortfalls between the carrying
value of fixed assets and their recoverable amounts are recognised as impairments. Impairment
losses are recognised in the Statement of Financial Activities.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured al cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives.
Depreciation is provided on the following basis..
Motor vehicles
Fixtures and fittings
Museum display cabinets
25,10 reducing balance
40010 reducing balance
1 00/0 slraighl line
Specialised display cabinets have been acquired with funds received specifically for this purpose due
to their long useful life they are separately shovvn and depreciated.
Page 15

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Accounting policies Icontinuedl
1.7 Heritage assets
Motor vehicles are included in the financial statements at cost or the value when donated. Vehicles
are maintained in full working order, insured at their current value with maintenance costs charged to
the Statement of Financial Activities when incurred. Archive items are included at cost or valuation.
Donations of archive items are included at estimated value at the lime of re￿ipl, except where the
cost of obtaining a valuation would be disproportionate. In the opinion of the Trustees, motor
vehicles and archives have an indeterminate life and accordingly tt is not appropriate to charge
depreciation. Conservation of these items is central to the Trust's activities. The Trust's management
policy in respect of its heritage assets is summarised in note 30.
1.8 Stocks
Stocks are valued al the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed
and variable overheads.
1.9 Debtors
Trade and other debtors are recognised at the selllemenl amount after any trade discount offered.
Prepayments are valued at the amount prepaid nel of any trade discounts due.
1.10 Cash at bank and in hand
Cash al bank and in hand includes cash and short-lerm highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
1.11 Liabilities
Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a
result of a past event, it is probable that a transfer of economic benefit will be required in settlement,
and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charitable Incorporated Organisalion anticipates it
will pay to settle the debt or the amount it has received as advanced payments for the goods or
services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific lo the liability- The
unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
1.12 Financial instruments
The Charitable Incorporated Organisalion only has finan￿al assets and financial liabilities of a kind
that qualify as basic financial instruments. Basic financial instruments are initially recognised at
transaelion value and subsequently measured at their settlement value.
1.13 Pensions
The Charitable Incorporated Organisation operates a defined contribution pension scheme and the
pension charge represents the amounts payable by the Charitable Incorporated Organisation to the
fund in respect of the year.
Page 16

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Critical accounting estimates and areas of judgement
Eslimales and judgements are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
Critical accounting estimates and assumptions..
The Charitable Incorporated Organisation makes estimates and assumptions conceming the future. The
resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.
The eslimales and assumptions that have a significant risk of causing a material adjustment to the
carrying amounts of assets and liabiltties within the next financial year are discussed below.
Critical accounting estimates and areas of judgement
Eslimales and judgements are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
Critical accounting estimates and assumptions..
The Charitable Incorporated Organisation makes estimates and assumptions conceming the future. The
resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.
The eslimales and assumptions that have a significant risk of causing a material adjustment to the
carrying amounts of assets and liabiltties within the next financial year are discussed below.
Income from donations and legacies
Unrestricted
funds
2022
Total
funds
2022
Total
funds
2021
Donations
Subscriptions
Grants
Donated services
12,899
167,574
4,000
12,899
167,574
4.000
12,271
155,774
15,143
23,400
184,473
184,473
206,588
Total 2021
206,588
206,588
There are no donated goods and services reflected in the financial statements for the year. Last year, the
Charitable Incorporated Organisalion occupied rent free a building it shared with the Aston Martin Owners
Club. The value of rent on the part occupied and not owned was £23,400 per annum which was reflected
in the financial slalements in both income and expenditure last year.
Page 17

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Income from charitable activities
Unrestricted
funds
2022
Total
funds
2022
Total
funds
2021
Research fees
Archiving
Educational events
Museum income
7,573
14,838
36,445
7,438
7.573
14.838
36.445
7,438
6,335
8,362
35,915
3,349
66,294
66,294
53,961
Total 2021
53,961
53,961
Income from other trading activities
Income from fundraising events
Unrestricted
funds
2022
Total
funds
2022
Total
funds
2021
Advertising
Merchandising
3,834
16,989
3.834
16,989
2,600
12,293
20,823
20.823
14,893
Total 2021
14,893
14,893
Investment income
Unrestricted
funds
2022
Total
funds
2022
Total
funds
2021
Investment income
98
98
12
Total 2021
12
12
Page 18

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Analysis of expenditure on charitable activities
Summary by fund type
Restricted Unrestricted
funds
funds
2022
2022
Total
2022
Total
2021
Educational events
Archiving
Museum costs
Journal expenses
Support costs
35,548
35,238
6,079
41,484
126,208
35,548
35.238
6.079
41,484
128.201
30,794
32,099
13,748
30,794
145,910
1,993
1,993
244,557
246,550
253,345
Total 2021
3,372
249,973
253.345
Summary by expenditure type
Staff costs Depreciation Other costs
2022
2022
2022
Total
2022
Total
2021
Educational events
35,548
3,229
6,079
41,484
71,940
35,548
35,238
6.079
41,484
128,201
30,794
32,099
13,748
30,794
145,910
Archiving
Museum costs
32,009
Journal expenses
Support costs
47,326
8,935
79,335
8,935
158,280
246.550
253,345
Total 2021
74,420
9,464
169,461
253,345
Page 19

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Support costs
Restricted Unrestricted
funds
funds
2022
2022
Total
funds
2022
Total
funds
2021
Office expenses
Insurance costs
10,140
10,339
9,230
47,326
2,260
14,630
661
5,934
3,638
10.140
10,339
9.230
47,326
2.260
14,630
661
5.934
3.638
9,177
10,538
7,725
51,619
71
33,053
651
2,695
2,652
4,904
43
628
12,690
9,464
Website and IT costs
Salaries
Travel and meeting costs
Rent
Mis￿lIaneOUS
Repairs
Motor costs
Irrecoverable VAT
Bad debt written off
Bank charges
Governance costs
1,060
14,048
8,935
1.060
14.048
8,935
Depreciation
128,201
128.201
145,910
Total 2021
3,372
142,538
145,910
10.
Governance costs
Unrestricted
funds
2022
Total
funds
2022
Total
funds
2021
Accountancy fees
Legal fees
11,713
2,335
11,713
2.335
12,250
440
14,048
14,048
12,690
Page 20

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
11.
Taxation
The Charitable Incorporated Organisalion is a registered charity and accordingly is exempt from taxation
on its income and gains where they are applied for charitable purposes.
12.
Independent examiner's remuneration
2022
2021
Fees payable lo the Charitable Incorporated Organisalion's independent
examiner for the independent examination of the Charitable Incorporated
Organisalion's annual accounts
3.000
2,200
13. Staff costs
2022
2021
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
71.220
6,626
1,489
66,692
6,458
1,270
79,335
74,420
The average number of persons employed by the Charitable Incorporated Organisalion during the year
was as follows..
2022
2021
Employees
No employee received remuneration amounting to more than £60,000 in either year.
14.
Trustees. remuneration and expenses
During the year, no Trustees re￿iVed any remuneration or other benefits12021 £NILI.
During the year ended 30 September 2022, no Trustee expenses have been incurred12021- £NILI.
Page 21

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Tangible fixed assets
Motor Fixtures and
vehicles
fittings
Office
equipment
Total
Cost or valuation
At 1 October 2021
Additions
Disposals
13,495
15,850
18,0001
122.535
2,715
33.661
169.691
18,565
18,0001
At 30 September 2022
21,345
125.250
33.661
180.256
Depreciation
At 1 October 2021
Charge for the year
On disposals
9,375
991
13,8801
115.467
2,831
31.668
1.993
156.510
5,815
13,8801
At 30 September 2022
6,486
118.298
33.661
158.445
Net book valuo
At 30 September 2022
14,859
6,952
21,811
At 30 September 2021
4,120
7,068
1,993
13,181
Page 22

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
16.
Heritage assets
Assets recognised at cost
Heritage
motor
vehicles
2022
Archives
2022
Total
2022
Carrying value al 1 October 2021
409,819
138,049
547.868
409,819
138,049
547,868
Analysis of heritage asset transactions
2022
2021
2020
2019
2018
Additions
Archives
2,235
137
292
1,277
Totsl additions
2,235
137
292
1,277
All additions were purchases or in the case of vehicles, capital costs of resloralion. Items and
memorabilia donated to the collections have been included at £nil value as in the opinion of the Trustees
obtaining separate valuations would be disproportionately expensive.
17.
Stocks
2022
2021
Closing merchandise stock
12.007
7,006
18.
Debtors
2022
2021
Due wlthln one year
Trade debtors
Other debtors
Prepayments and accrued income
1,281
1.722
78,767
10,820
786
62,620
81.770
74,226
Page 23

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
19.
Creditors: Amounts falling due within one year
2022
2021
Trade creditors
Other taxation and social security
Other Creditors
Accruals and deferred income
22.222
2,975
214
3,000
1,100
280
2,200
16.858
42.269
6,580
20.
Provisions
Car register
At 1 October 2021
Increase
15.000
525
1 S,525
Car register
The register provision is for updating and publication of the Aston Martin Heritage Trust Register of Cars.
It has recently been transferred lo an online version so it only includes data management costs. Any
amount released relates to income l expenditure of updating part of the final stage of the online Car
register.
Page 24

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
21.
Statement of funds
Statement of funds - current year
Balance at
30
September
2022
Balance at 1
October
2021
Income Expenditure
Unrestricted funds
General Funds
856,443
271,688
1254,3081
873,823
Restricted funds
Museum display cabinets
1,993
11,9931
Total of funds
858,436
271,688
1256,3011
873,823
statement of funds - prior year
Balance at
30
September
2021
Balance al
1 October
2020
Income Expenditure
Unrestricted funds
General Funds
842,811
275,454
1261,8221
856,443
Restrlcted funds
Museum display cabinets
5,365
13,3721
1,993
Totsl offunds
848,176
275,454
1265,1941
858,436
Page 25

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
22.
Summary offunds
Summary offunds - current year
Balance at
30
September
2022
Balance at 1
October
2021
Income Expenditure
General funds
Restricted funds
856.443
1.993
271.688
1254.3081
11,9931
873.823
858,436
271,688
1256,3011
873,823
Summary of funds - prior year
Balance at
30
September
2021
Balan￿ al
1 October
2020
Income Expenditure
General funds
842,811
5,365
275,454
1261,8221
13,3721
856,443
1,993
Restricted funds
848,176
275,454
1265,1941
858,436
23.
Analysis of ngt as$gt$ betwegn funds
Analysis of ngt assgts between funds - currgnt year
Unrestricted
funds
2022
Total
funds
2022
Tangible fixed assets
Heritage assets
Current assets
Creditors due within one year
Provisions for liabilities and charges
21,811
547,868
361,938
142,2691
115,5251
21.811
547.868
361,938
142,2691
115.5251
Totsl
873,823
873,823
Page 26

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
23.
Analysis of net assets between funds Icontinuedl
Analysis of net assets between funds - prior year
Restricted Unrestricted
funds
funds
2021
2021
Total
funds
2021
Tangible fixed assets
Heritage assets
Current assets
Creditors due within one year
Provisions for liabilities and charges
1,993
11,188
547,220
319,615
16,5801
115,0001
13,181
547,220
319,615
16,5801
115,0001
Totsl
1,993
856,443
858,436
24.
Reconciliation of net movement in funds to net cash flow from operating activities
2022
2021
Nel income for the year las per Statement of Financial Acliviliesl
15,387
10,260
Adjustments for-
Depreciation charges
Loss on disposal of fixed asset
Investment income
(Increase) I decrease in stocks
Increase in debtors
5,815
3,120
1981
15,0011
17,5441
35,654
9,464
1121
3,779
118,1751
832
14,0001
Increase in creditors
IDecreasel in provision
Net cash provided by operating activities
47,333
2,148
25.
Analysis of¢a$h and cash equivalgnts
2022
2021
Cash in hand
268.161
238,383
Total cash and cash equivalents
268,161
238,383
Page 27

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
26.
Analysis of changes in net debt
At1
October
2021 Cash flows
At30
Soptember
2022
Cash at bank and in hand
238,383
29.778
268.161
238,383
29,778
268.161
27.
Pension commitments
The Charitable Incorporated Organisalion operates a defined contribution pension scheme. The assets of
the scheme are held separately from those of the Charitable Incorporated Organisalion in an
independently administered fund. The pension cost charge represents contributions payable by the
Charitable Incorporated Organisalion to the fund and no amounts were unpaid al the period end 12021..
£nil}.
28. Related party transactions
During the period the Charitable Incorporated Organisalion made purchases of £6,00012021'. £6,000) for
accountancy services provided by Goose Taxation, owned by one of ils Trustees. There was no amount
outstanding at the period end12021'. £nill.
29.
Heritage asset management policy
The Charitable Incorporated Organisalion's objectives include maintaining and developing the already
extensive archives of material relating to Aston Martin, Lagonda and Aston Martin Lagonda cars, and
preserving a collection of significant cars. At 30 September 2022 there were 4 cars in the collection
including A3, which is the earliest surviving Aston Martin in the worfd. Cars are made available for public
inspection at the Charitable Incorporated Organisalion's premises in Oxfordshire and are also exhibited at
various events throughout the UK, and occasionally abroad. The Archive contains an impressively large
collection of material relating to the history of Aston Martin. 11 holds a large number of original
manufacturing plans, drawings and blueprints dating back lo the 1920s. It also has an extensive collection
of factory records and publications, including order books, workshop manuals, and original publicity
material. The archive also holds a collection of over 250 books, many of which are rare. In addition there
is a major photo archive, including the work of Louis Klemantaski for Aston Martin, the Roger Stowers
collection, and the Neill Bruce collection. Where possible the Charitable Incorporated Organisation is
pleased lo supply images for use in publications and research. Public aC￿sS lo the archive is encouraged
for consullalion and research by both members and the general public.
Acquisitions are made by purchase or donation, and occasionally, the Charitable Incorporated
Organisalion disposes of items where the Trustees are satisfied that lo do so does not delracl from the
integrity of the collection.
Page 28