Charity number.. 1182793
ASTON MARTIN HERITAGE TRUST
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

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 Examlner's Report
Statement of Financial Aetivities
10
Balance Sheet
Statement of Cash Flows
12
Notes to the Financial Statements
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 2024
Trustees
Mike Abbott (resigned 20 June 2025)
Tim Coltingham
Mark Gaunllell
Garry Taylor, Treasurer
August von Joesl
John Warden, Chairman
Tom Weslley
Steve Waddingham
Tamalie Newbery
Alan Haig lappointed 12 December 2023, resigned 29 April 20241
Kerry Greene lappoinled 14 May 20251
Charity rggistered
number
1182793
Principal office
Drayton Sl Leonard
Wallingford
Oxfordshire
OX10 7BG
Secretary
Sue Gibbons
A￿oUntantS
James Cowper Kreston
Chartered Accounlanls
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG196AB
Bankers
HSBC
44 Upper High Street
Thame
Oxon
OX9 2DW
Solicitors
Helen Harvey, Charity Consultant
Moore Badow LLP
The Oriel
Sydenham Road
Guildford
Surrey
GU1 3SR
Page 1

ASTON MARTIN HERITAGE TRUST
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The chairman presents his statement for the year.
The mission of the Aston Martin Heritage Trust is to develop and preserve our world-class and comprehensive
collection and share il as far as possible. We do that through an increasingly rich and valuable stable of activities
across preservation, curation, education, research, and events. We support Aston Martin Lagonda plc. the Aston
Martin Owners Club, and many other organisalions and individuals who need to know about the marque's long
and varied heritage.
During 2024, the AMHT Board spent a lot of time working through options for relocation from the Bam. To recap,
the Trust's collection has now grown to a point where the Barn is far loo small to accommodate it, and ils long-
term storage is increasingly difficult in a medieval building. In earfy 2024, the Trust successfully applied for a
grant from the National Lottery Heritage Fund lo engage museum sector specialist consullanls to help us look at
our options and choose a solution, based on our aims, resources, appetite for risk, and potential audience. This
work will continue into 2025, but we have already agreed that the future Trust should do much more online.
sharing our collection and enabling worldwide reach, and this will support us in growing our audience and
fundraising prior to a move in around 2028129. As to the actual new location, we have narrowed the options and
scope, and plan to conclude our choice later in 2025.
Our staff and volunteers have continued lo provide excellent and dedicated support lo the Trust and ils
operations. Museum footFall has increased 37,/0 from 2,125120231 to 2,920120241, and special exhibitions were
mounted for the DB7 model and Aston Martin at Le Mans.
Our AMOC friends in North America recently sel up a charity to preserve the materials they have gathered over
the years, and we have begun to sel up formal links between AMHT and the AMOC North America Historical
Society to work together.
The only change to the Board this year was Alan Haig, who stepped down,. he contributed much in his short time
as Trustee, and we look forward lo continuing to work with him as AMOC Treasurer. In March, we warmly
welcomed Carl-Peter Forster onto our Advisory Council, joining Marek Reichman, David Richards CBE, and
Richard Hayes as our key advisers and ambassadors. Their advice and guidance have been invaluable
throughout the year, and they may well be busier in 2025 as we work towards our relocation choice.
ep
John Warden
Chairman of the Board of Trustees
Dale..
24 June 2025
Page 2

ASTON MARTIN HERITAGE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Trustees present their annual report together with the financial statements of the Charitable Incorporated
Organisalion ICIOI for the year 1 October 2023 to 30 September 2024.
The Trustees confirm that the annual report and the financial statements of the Charitable Incorporated
Organisalion comply with the current statutory reqLJirements, the requirements of the Charitable Incorporated
Organisalion's goveming document and the provisions of the Statement of Recommended Practice (SORPI.
applicable lo charities preparing accounts in accordance with 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 Organisalion, charity number 1182793. Ils aim is=
The advancement of education by making available for study. research material of all types relating to the
automotive engineering and aulomolive 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 'the 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 regular Newsletter and other books or articles covering the
history of 'the 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 items relating to the history of Aston Martin and
the people. companies and organisations associated with that history.,
Display as many of the objects, artefacts and archive items in ils care as it is safe and practical lo do so.
and, where appropriate, demonstrate the Museum's operable objects at events both on and off the
Museum's sile.,
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 site, 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 annLJal Aston Martin Heritage Festival and
others.,
Organising others events targeted at Aston Martin enthusiasts. motoring enthusiasts. and
general audiences.,
Page 3

ASTON MARTIN HERITAGE TRUST
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Oblectlves and actlvltles {contlnuedl
Grow corporate, group and hospitslily visitor numbers through..
Promotion using print and digitsl media advertising-
Attendance at hospitslily and lourisl 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 performance
The Museum
Museum entran￿ is complimentary for AMHT Supporters, AMOC Members and Aston Martin Lagonda
employees. Visitors, whether complimentary or paid, continue lo increase in numbers, with a 370/0 increase in
2024 compared to the previous year. Together with regular rolalion of displays, visitors have an enhanced
experience with our museum hosts guiding them through the Aston Martin heritage.
The heart of the Museum is the cars. The foundation of our heritage fleet began with the bequest of the 1934
Ulster. Over the years, this has grown through purchase, loan and donation. We currently care for many
vehicles, engineering prototypes, design models and culaways. Due lo the size of the museum, we cannot
display all the cars al once bul rotate them on a regular basis.
In addition lo the cars, we display engines, trophies, artefacls, engineering tools, racing memorabilia and a scale
model collection.
DSgltSslng the Reglster and Reglstrar assets
Digitising the paper records of the Master Register is ongoing with 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 identification marks. We will be collecting more photographs lo assist with future setvices for the DVLA
and overseas vehicle registration agencies.
Hlstorlc Vehlcle reglstratlon and UK V765
The AMHT has been, since ils inception, the DVLA'S prescribed organisation lo provide evidence and advice on
the registration of historic Aston Martins. This mostly involves the provision of dating evidence and supporting
cars through the V765 scheme. Dating evidence, or 'daling letters,, are provided for individual cars so that the
DVLA has accurate infomalion about the age of a vehicle, so that the correct Vehicle Excise Duly 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 lo a car that may have lost il over lime. Increasingly, we
are also supporting owners outside of the UK with the registration of historic Aston Martins with less tolerance of
older motor vehicles.
Build SheetslHerStage and "One or Certlflcates
An increasing valuable and popular setvice lo owners and dealers, the AMHT can supply the Build Sheets being
internal documents used by the factory give specific detsils of how a car left the factory. These setwices now
extend to more recent vehicles built between 2017 to 2023.
The Heritage Certificates, based on a car's build sheet, can help lo confirm the provenance of a car. 'One Of
Certificates combine a certificate with a unique research document which identifies how many cars there were
built to a matching specification.
Page 4

ASTON MARTIN HERITAGE TRUST
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Achlevements and performance (contlnuedl
EducatSon and Learnlng
Since its formation, AMHT has always provided education in all things Aston Martin, through the museum,
archive Servi￿$, publishing and public lectures. However, the Trustees wish lo do more in the education field
and ulilise the assets the Trust holds.
Of concern lo the Trustees is the skills shortage in engineering and manufacturing, which impacts the ability lo
maintain and restore our cars. Hence, AMHT is wanting lo work with other partners which support apprentices
and skills development.
Worldwlde reach
The Trustees are aware of being perceived as a UK-based museum. During the year, the aim was to extend the
reach of the AMHT to beyond the UK through our social media channels generating increased woddwide
engagement, email newslellers, allending and participating in overseas events such as Aston Martin Arcadia in
Japan, and subsequent lo the year-end presented lectures in Holland.
Furthemiore, since its lenlative launch in November 2022, the Aston Martin Heritage Podcast gained more
Iraclion last year, with over 8,000 listeners worldwide, with Germany and the USA following the UK in subscriber
numbers. Our podcast often appears within the lop ￿entY of automotive podcast charts.
Flnanclal revlew
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 £158,000 as part of our £363,388 total income.
The total incoming resources for the year are £363,388 12023.. £283,128). Total resources expended in the
period were £402,61712023.. £297,792) and the resulting net deficit was £39,22212023= £14,664 net deficit).
The free unrestricted fund balance (excluding fixed assets) al the end of the period was £250,321 12023=
£299,391).
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.
Reserves policy
The Trust aims to have a minimum of 6 months operating expenditure in liquid reserves at any one time in
addition to reserves maintained to meet specific projects. Reserves dedicated lo a specific project may be
treated as restricted funds. In the year lo September 2024 free reserves amounted to 9 months of operating
expenditure.
Material investments policy
The Trustees follow an investment policy lo optimise investment income consistent with the secure maintenance
of capital.
Page 5

ASTON MARTIN HERITAGE TRUST
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2024
structure. governance and management
Constltutlon
The Trust Iregislered charity number is 11827931 was originally constiluled by a deed dated 5 August 1998, with
modifications dated 23 August 2000 and 14 June 2004. In 2019 the Aston Martin Heritage Trust became a
Charitable Incorporated Organisalion 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 appolntment or electlon 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. For the 2024 year, up lo 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 to two are nominated
by Aston Martin Lagonda Ltd,. and up to two are nominated by the Aston Martin Owners Club Management
Committee.
As the Board of Trustees continue to develop ils future skills needs and succession plan, il became clear that
seven independent Trustees aren't enough, so in February 2025 the Constitution was amended lo increase the
Trustee numbers lo 13, including the AML and AMOC nominees, in bringing the right skills onto the Board.
Pollcles adopted for the Inductlon and tralnlng of Trustees
New Trustees are given induction packs, together with an induction session which takes place al the Trust's
headquarters at the Barn in Oxfordshire.
Rlsk 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. Vve 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
Accredltatlon
The AMHT is working towards achieving ACE Museum Accreditation in order to demonstrate and maintain the
quality of care, security and ac￿$5 that the collection deserves. AMHT is nearing the end of the three year
'VVorking Towards Accreditation, submission timeframe and is due to submit in October 2025. This is an ongoing
process of quality improvement and organisational development to achieve and maintain Accreditation.
Becoming a fully accredited museum will give us significant credibilily in the museum sector, give confidence that
we are looking after the collection properfy and allow wider access lo heritage grants and inler-museum loans.
Flndlng the Future
In May 2024, AMHT was awarded £81,000 by the National Lottery Heritage Fund for the Finding the Future
project, which aimed lo enable Iruslees to make infomed decisions about the Trust's long-tem) future, given that
il is unlikely lo be able lo remain in its current location indefinitely. With the funding, expert research and advice
were commissioned on the interests of our potential audiences, fundraising, and business and operational
planning. This insight was then used lo consider a number of potential scenarios for the future of the Trust and
how il might reach audiences and care for and display ils collections.
The project concluded that building a stand-alone museum of any substantial size was not viable in capital or
Page 6

ASTON MARTIN HERITAGE TRUST
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Future plans Icontlnuedl
operational terms, and as a result, il was decided that AMHT could not proceed with the sile for a potential new-
build museum al Newport Pagnell. The Newport Pagnell Council was infomed, and the Trust thanked them for
all the support and patience they have shown.
Excitingly, the audience research showed strong interest in Aston Martin from groups who do not typically visit
museums, and a growing interest in new ways of a¢￿ssIng content, for instance, online, through touring
exhibitions and pop-up experiences. AMHT is looking to build on this by developing its non-venue-based offer,
enabling il to serve UK and global Aston Martin fans, and will look lo C￿lOcate its permanent exhibitions and
collection with another allraction.
statement of Trustees. responslbllltles
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards {United 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 Organisalion
and of its incoming resources and application of resources, including ils 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 accounling eslimales that are reasonable and prudent.,
stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material
departures disclosed and explained in the financial stalemenls.,
prepare the financial statements on the going concern basis unless it is inappropriate to presLJme that the
Charitable Incorporated Organisation will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain
the Charitable Incorporated Organisation's transactions and disclose with reasonable accLJracy al any lime the
financial 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) RegLJlations 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 detedion of fraud and
other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by..
] WArde
John Warden
Chairman
Date..
Garry Taylor
Treasurer
24 June 2025
Page 7

ASTON MARTIN HERITAGE TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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 2024.
Responsibilities and Basis of Report
As the Trustees of the Charitable Incorporated Organisalion you are responsible for the preparation of the
accounts in accordance with the requirements of the Charities Act 2011 1 the 2011 Acl'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 Organisalion'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 iSSLJed 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 lo provide a true and fair view in accordance with
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 mallers have come lo my attention in connection with the
examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the Charitable Incorporated Organisalion as required by
section 130 of the 2011 Act., or
the accounts do not accord with those records., or
the accounts do not comply wlh 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 to 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 (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
This report is made solely to the Charitable Incorporated Organisation's Trustees, as a body, in accordance with
Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might
stale to the Charitable Incorporated Organisalion's Trustees those matters l am required to slate to them in an
Independent Examinerfs Report and for no other purpose. To the fullest extent permilled 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
Bsc FCA DChA
James Cowper Kreston
Chartered Accountants
2 Communications Road
Greenham Business Park
Greenham
Newbury
Bert(shire
RG19 6AB
Page 9

ASTON MARTIN HERITAGE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies..
Donations
Subscriptions
Grant
Charitable activities
Other trading activities
Investments
Other income
10,314
164.362
10,314
164,362
40.500
118,989
24,805
3,418
1.000
23,750
161,783
40.500
118,989
24,805
3,418
1.000
80,262
14,942
2,391
Total income
40,500
322,888
363,388
283,128
Expenditure on:
Raising funds
Charitable activities
15.654
343.024
15.654
386.963
2,108
295,684
43.939
Total expenditure
43,939
358,678
402,617
297,792
Net expenditure
Transfers between funds
13.4391
3,439
(35.7901
13.4391
(39.2291
{14,6641
20
Net movement in funds
(39.2291
(39.2291
114,6641
Reconciliation of funds..
Total funds brought forward
Nel movement in funds
859.159
(39.2291
859,159
(39.2291
873,823
(14,6641
Total funds carried fonNard
819.930
819.930
859,159
The Ststemenl of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 13 to 28 fomi part of these financial statements.
Page 10

ASTON MARTIN HERITAGE TRUST
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
2024
2023
Note
Fixed assets
Tangible assets
Heritage assets
14
15
16,874
552,735
10,938
548,830
569,609
559,768
Current assets
Stocks
16
27,539
98,196
193.528
28,015
104,374
218,712
Debtors
Cash al bank and in hand
17
319.263
351,101
Creditors.. amounts falling due within one
year
18
(53,9421
136,7101
Net current assets
265.321
314,391
Total assets less current liabilities
834,930
874,159
Provisions for liabilities
19
115.0001
115,0001
Net assets
819.930
859,159
Total net assets
819,930
859,159
Charity funds
Restricted funds..
Unrestricted funds
20
819,930
859,159
Total funds
819,930
859,159
The financial stslemenls were approved and authorised for issue by the Trustees and signed on their behalf by-
] WArde
John Warden
Chairman
Dale..
Garry Taylor
Treasurer
24 June 2025
The notes on pages 13 to 28 form part of these financial statements.
Page11

ASTON MARTIN HERITAGE TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2024
2023
Note
Cash flow$ from operating activities
Nel cash used in operating activities
23
{13,5491
{44,5991
Cash flows from investing activitios
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
3.418
1,000
(16,0531
2,392
5,000
112,2421
Net cash used in Snvestlng actlvltles
{11.6351
14.8501
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
{25,1841
218,712
(49.4491
268,161
Cash and cash equlvalents at the end ofthe year
24
193,528
218,712
The notes on pages 13 to 28 form part of these financial statements
Page 12

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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.. Slalement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financi81 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 102} 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 lo 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
Practi￿ effective from 1 April 2005 which has since been withdrawn.
The financial stslemenls 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 enlily under FRS 102. Assets and
liabilities are initially recognised al historical cost or transaction value unless otherwise staled in the
relevant accounting policy.
1.2 Fund accounting
General funds are unreslricled funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the Charitable Inco￿orated Organisation and which have not
been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the Charitsble 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 lo the financial stslemenls.
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 2024
Accounting policies (continued)
1.3 Income
All income is recognised once the Charitable Incorporated Organisalion has entillemenl to the
income, it 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
receipt 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 it will be
received and the fair value of the amount receivable, which will generally be the expected cash
amount to be distributed to the Charitable Incorporated Organisalion, can be reliably measured.
Grants are included in the Statement of Financial Aclivtties 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 receipt, ils
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 paty is bearing the cost. No amounts are included in the financial
statements for services donated by volunteers.
Donated services 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 Organisalion 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 Organisation 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 lime of the donation.
Income lax recoverable in relation lo investment income is recognised at the time the investment
income is receivable.
Page 14

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Accounting policies (continued)
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 apporboned 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 inclLJdes all expenditure incurred by the Charitable Incorporated
Organisation to raise funds for its 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 capilalised 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 carryng 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 Ljseful lives.
Depreciation is provided on the following basis..
Motor vehicles
Fixtures and fittings
Museum display cabinets
25'/o reducing balance
400/0 reducing balance
100/0 straight line
Specialised display cabinets have been acquired with funds received specifically for this purpose dLJe
to their long usefLJI life they are separately shown and depreciated.
Page 15

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Accounting policies (continued)
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 lo
the Statement of Financial Activities when incurred. Archive items are included at cost or valuation.
Donations of archive items are included at estimated value al the lime of receipt, except where the
cost of obtaining a valuation would be disproporbonate. In the opinion of the Trustees, motor
vehicles and archives have an indeterminate life and accordingly il is not appropriate to charge
depreciation. Conservation of these items is central to the Trust's activities. The TrLJSt's management
policy in respect of ils 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 settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid net of any trade discounts due.
1.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-lerm highly liquid investrnenls with a short maturity
of three months or less from the dale 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 Organisation anticipates it
will pay to sellle the debt or the amount il has received as advanced payments for the goods or
services it musl provide.
Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where
the effect of the time valLJe 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 discoLJnt is recognised in the Statement of Financial Activities as a finance cost.
1.12 Financial instruments
The Charitable Incorporated Organisation only has financial assets and financial liabilities of a kind
that qualify as basic financial instruments. Basic financial instrLJments are initially recognised at
transaction value and subsequently measured at their selllement 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 2024
Income from donations and legacies
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Donations
Subscriptions
Grants
10,314
164,362
10,314
164,362
40.500
23,750
161,783
40,500
40,500
174,676
215,176
185,533
Total 2023
185,533
185,533
There are no donated goods and services reflected in the financial statements for the year.
Income from charitable activities
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Research fees
Archiving
Educational events
Museum income
350
45,851
52,078
20,710
350
45.851
52,078
20,710
100
28,939
39,109
12,114
118,989
118.989
80,262
Total 2023
80,262
80,262
Page 17

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Income from other trading activities
Income from fundraising events
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Advertising
Merchandising
10,475
14,330
10,475
14.330
1,800
13,142
24,805
24,805
14,942
Total 2023
14,942
14,942
Investment income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Investment income
3,418
3,418
2,391
Total 2023
2.391
2,391
other Incomlng resources
Unrestrlcted
funds
2024
Total
funds
2024
Total
funds
2023
Profit on disposal of fixed assets
1.000
1,000
Page 18

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Analysis of expenditure on charitable activities
Summary by fund type
Restricted Unrestricted
funds
funds
2024
2024
Total
2024
Total
2023
Educational events
Archiving
Museum costs
Journal expenses
Support costs
44,513
62,609
14,853
62,818
158,231
44,513
62,609
14,853
62,818
202,170
40,668
43,230
12,862
43,474
155,450
43,939
43,939
343,024
386,963
295,684
Total 2023
295,684
295,684
Summary by expenditure type
Staff costs Depreciation Other costs
2024
2024
2024
Total
2024
Total
2023
Educational events
44,513
3,322
14,853
62,818
136,404
44,513
62,609
14,853
62,818
202,170
40,668
43,230
12,862
43,474
155,450
Archiving
Museum costs
59,287
Journal expenses
Support costs
59,554
6,212
118,841
6,212
261,910
386.963
295,684
Total 2023
91.156
17,152
187.376
295,684
Page 19

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Support costs
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Office expenses
Insurance costs
11,469
18,705
15,470
59,554
2,929
17,166
461
4,524
7,461
2,250
11,469
18,705
15,470
59,554
2,929
17,166
461
4.524
7,461
2,250
43,939
12.030
6.212
12,741
15,472
23,869
47,709
2,798
13,630
1,115
4,601
962
1,911
Website and IT costs
Salaries
Travel and meeting costs
Rent
Mis￿lIaneOUS
Repairs
Motor costs
Bank charges
Consultancy
Governance costs
Depreciation
43,939
12,030
6,212
11,150
17,152
43,939
158,231
202,170
153,110
Tol812023
153,110
153,110
Governance costs
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Accountancy fees
Legal fees
10,062
1,968
10,062
1.968
9,894
1,256
12,030
12,030
11,150
Page 20

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
10.
Taxation
The Charitable Incorporated Organisalion is a registered charity and accordingly is exempl from taxation
on its income and gains where they are applied for charitable purposes.
11.
Independent examiner's remuneration
2024
2023
Fees payable lo the Charitable Incorporated Organisalion's independent
examiner for the independent examination of the Charitable Incorporated
Organisalion's annual accounts
3.200
3,090
12.
Staff costs
2024
2023
Wages and salaries
Social security costs
Contribution lo defined contribution pension schemes
112.403
5,148
1,290
86,784
2,549
1,823
118,841
91,156
The average number of persons employed by the Charitable Incorporated Organisalion during the year
was as follows..
2024
2023
Employees
No employee received remuneration amounting to more than £60.000 in either year.
13.
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefils12023 - £NILI.
During the year ended 30 September 2024, no Trustee expenses have been incurred12023- £NIL}-
Page 21

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
14.
Tangible fixed assets
Motor Flxtures and
vehicles
fittings
Office
equlpment
Total
Cost or valuation
At 1 October 2023
Additions
Disposals
5,495
10,990
15,4951
136.529
1,158
33.661
175.685
12,148
15,4951
At 30 September 2024
10,990
137,687
33,661
182.338
Depreciation
At 1 October 2023
Charge for the year
On disposals
5,495
1,374
15,4951
125.591
4,838
33.661
164.747
6,212
15.4951
At 30 September 2024
1,374
130,429
33,661
165.464
Net book valuo
At 30 September 2024
9,616
7,258
16,874
At 30 September 2023
10,938
10.938
Page 22

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
15.
Heritage assets
Assets recognised at cost
Heritage
motor
vehicles
2024
Archives
2024
Total
2024
Carrying value at 1 October 2023
Additions
409,819
139,011
3,905
548.830
3.905
409,819
142,916
552,735
Analysis of heritage asset transactions
2024
2023
2022
2021
2020
Additions
Archives
3,905
963
2,235
137
Total additions
3,905
963
2,235
137
All additions were pu￿haSe$ or in the case of vehicles, capital ￿St$ of restoration. Items and
memorabilia donated to the wlleclions have been included at £nil value as in the opinion of the Trustees
obtaining separate valuations would be disproportionately expensive.
16. Stocks
2024
2023
Closing merchandise stock
27,539
28,015
17.
Debtors
2024
2023
Due within one year
Trade debtors
other debtors
Prepayments and accrued income
46,704
8.172
43.320
17,678
4,490
82,206
98,196
104,374
Page 23

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
18.
Creditors: Amounts falling due within one year
2024
2023
Trade creditors
Other taxation and social security
Accruals and deferred income
49,222
1,520
3,200
17,049
4,452
15,209
53.942
36,710
19.
Provisions
Car register
At 1 October 2023
15,000
15.000
Car register
The register provision is for updating and publication of the Aston Martin Heritage Trust Register of Cars.
It has recently been transferred to 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 2024
20.
Statement of funds
Statement of funds - current year
Balance at
30
Transfers September
inlout
2024
Balance at 1
October
2023
Income Expenditure
Unrestrlcted funds
General Funds - all funds
859,159
322,888
{358,6781
(3,4391
819,930
Restricted funds
National lottery heritage fund
40,500
(43.939)
3,439
Total of funds
859,159
363,388
{402,6171
819,930
statement of funds - prior year
Balance at
30
September
2023
Balance al
1 October
2022
Income Expenditure
Unrestricted funds
General Funds - all funds
873,823
283,128
1297,7921
859,159
Page 25

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
21.
Summary offunds
Summary offunds - current year
Balance at
30
Transfers September
inlout
2024
Balance at 1
October
2023
Income Expenditure
General funds
Restricted funds
859.159
322.888
40,500
{358.6781
(43.9391
(3.4391
3,439
819.930
859.159
363,388
{402,6171
819,930
Summary offunds - prlor year
Balance at
30
September
2023
Balance al
1 October
2022
Income Expenditure
General funds
873,823
283.128
1297,7921
859.159
22.
Analysis of net assets between funds
Analysis of net assets between funds - Current period
Unrestricted
funds
2024
Total
funds
2024
Tangible fixed assets
Heritage assets
Current assets
Creditors due within one year
Provisions for liabilities and charges
16,874
552,735
319,263
153,9421
115,0001
16,874
552,735
319.263
153.9421
(15.0001
Total
819,930
819,930
Page 26

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
22.
Analysis of net assets between funds {continuedl
Analysis of net assets between funds - prior period
Unrestricted
funds
2023
Total
funds
2023
Tangible fixed assets
Heritage assets
Current assets
Creditors due within one year
Provisions for liabilities and charges
10,938
548,830
351,101
136,7101
115,0001
10,938
548,830
351,101
{36,7101
115,0001
Total
859,159
859,159
23.
Reconciliation of net movement in funds to net cash flow from operating activities
2024
2023
Nel expenditure for the period las per Statement of Financial Aclivilies)
{39.2291
114,6641
Adjustments for-
Depreciation charges
{Profitl I loss on disposal of fixed asset
Investment income
{Increasel I decrease in stocks
{In¢reasel I decrease in debtors
Increaselldecreasel in creditors
6,212
(1.0001
(3.4181
476
6,178
17.232
7.293
9,859
12,3911
(16,0081
122,6041
16,0841
Net cash used In operatlng actlvltles
113.5491
144,5991
24.
Analysis of cash and cash equivalents
2024
2023
Cash in hand
193.528
218,712
Total cash and cash equivalents
193,528
218,712
Page 27

ASTON MARTIN HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
25.
Analysis of changes in net debt
At1
October
2023 Cash flows
At30
Soptember
2024
Cash at bank and in hand
218,712
{25,1841
193,528
218.712
125,1841
193,528
26.
Penslon commltments
The Charitable Incorporated Organisalion operates 8 defined contribution pension scheme. The assets of
the scheme are held separately from those of the Charitable Incorporated Organisalion in an
independently administe￿d 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 12023:
£nil}.
27. Related party transactlons
During the period the Charitable Incorporated Organisalion made purchases of £6,00012023". £6,000) for
accountancy services provided by Goose Taxation. owned by one of ils Trustees. There was no amount
outstanding at the period end {2023'. £nill.
28. Herltage asset management pollcy
The Charitable Incorporated Organisation'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. Al 30 September 2024 there were 23 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 Charitsble 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
maleri81. 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 Slowers
collection, and the Neill Bruce collection. Where possible the Charitable Incorporated Organisation is
pleased lo supply images for use in publications and research. Public access lo the archive is encouraged
for consultation and research by both members and the general public.
Acquisitions are made by purchase or donation, and occasionally, the Charitsble 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