Docusign Envelope ID: C3DBD615-1142-4CF9-8E5E-1C0E97C4A65C
Charity number: 1185691
UNAUDITED TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
THE POLISH AIR FORCE MEMORIAL COMMITTEE
Docusign Envelope ID: C3DBD615-1142-4CF9-8E5E-1C0E97C4A65C
THE POLISH AIR FORCE MEMORIAL COMMITTEE
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Accountants' report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 12 |
Docusign Envelope ID: C3DBD615-1142-4CF9-8E5E-1C0E97C4A65C
THE POLISH AIR FORCE MEMORIAL COMMITTEE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
Krzysztof Aleksander de Berg, Chair Julian Roch Kowalski London Borough of Hillingdon Joseph Adam Hill John Stephen Bieniek Philip Andrew Richard Kwissa Rodney Byles Richard Kornicki CBE DL Chris Norman Joanna Mludzinska
Charity registered number 1185691 Principal office 44 Kent Gardens Ealing London W13 8BU
Accountants Menzies LLP Chartered Accountants Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP Bankers HSBC Bank plc 28 Chiswick High Road London W4 4HJ
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THE POLISH AIR FORCE MEMORIAL COMMITTEE
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the financial statements of the Charity for the 1 January 2024 to 31 December 2024.
Objectives and activities
a. Policies and Objectives
The Polish Air Force Memorial Committee was instigated in June 2010 as part of the arrangements for the closing down of the Polish Air Force Association Charitable Trust. Its objective is to maintain the memory of the Polish Air Force’s achievements in the Second World War and to honour Polish airmen and women by the creation and maintenance of public memorials, also to educate and inform the public about the Polish Air Force and its history including by operating Polish Air Force Museums.
The proposed basis of the Committee was formally agreed by the Commander in Chief of the Polish Air Force (Dec 2010) and by the Chief of The Air Staff for the Royal Air Force (Feb 2011); their nominees were founding ex-officio co-Presidents and are now offered 'Associate' status.
In the course of the year a number of administrative improvements were made including to the website, PAFMCs content on You Tube, updating policies etc
Achievements and performance
a. Main achievements of the Charity
The principal event of the year remains the annual Commemoration ceremony held at the Polish Air Force Memorial and RAF Northolt. These were well attended by the general public and special guests, inter alia the Representative Deputy Lieutenant for the London Borough of Hillingdon, the Ambassador of the Republic of Poland, a number of Mayors, Defence Attachés, and other diplomats, senior officers from the Royal Air Force and the Polish Air Force as well as officer cadets of the Polish Air Force. Also in attendance were Royal Air Force Air Cadets, Polish Scouts and Guides young people from Polish Saturday Schools and other organisations.
The Polish Air Force Memorial Committee took part in the formal naming of a locomotive “303 Squadron”. The event was well attended with senior figures from the Polish Embassy and Consulate present, as well as members of the Polish and British communities. The Committee also participated in other commemorative events.
Work continued on cataloguing and displaying artifacts in the Polish Air Force Room at RAF Northolt and the Polish Museum in the Battle of Britain Bunker Uxbridge. Regular visits to both of these were organised through-out the year.
PAFMC expresses its thanks to RAF Northolt and the Battle of Britain Bunker for their generous support and encouragement.
Work started on renovating some graves of prominent Polish Air Force personnel and memorials, including the model Spitfire at the former Orchard Public House.
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THE POLISH AIR FORCE MEMORIAL COMMITTEE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Financial review
Within the year ended 31 December 2024, total income amounted to £16,062 (2023: £6,080). Resources expended were £16,704 (2023: £30,877). The Memorial Committee had funds of £152,694 at 31 December 2024 (2023: £140,830).
Structure, governance and management
a. Constitution
The Polish Air Force Memorial Committee is a registered charity, number 1185691, and is constituted under a Trust deed.
b. 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.
Statement of Trustees' responsibilities
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 Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity 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 to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity 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:
................................................
Krzysztof Aleksander de Berg Chair
27-Oct-2025
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THE POLISH AIR FORCE MEMORIAL COMMITTEE
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE POLISH AIRFORCE MEMORIAL COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2024
In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of The Polish Air Force Memorial Committee for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes from the Charity's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/members handbook.
This report is made solely to the Board of Trustees of The Polish Air Force Memorial Committee, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Polish Air Force Memorial Committee and state those matters that we have agreed to state to the Board of Trustees of The Polish Air Force Memorial Committee, as a body, in this report in accordance with ICAEW Technical Release TECH08/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Polish Air Force Memorial Committee and its Board of Trustees, as a body, for our work or for this report.
It is your duty to ensure that The Polish Air Force Memorial Committee has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and surplus/(deficit) of The Overstall Charitable Trust. You consider that The Polish Air Force Memorial Committee is exempt from the statutory audit requirement for the year ended 31 December 2024.
We have not been instructed to carry out an audit or a review of the accounts of The Polish Air Force Memorial Committee .For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Menzies LLP Chartered Accountants
Magna House 18-32 London Road Staines TW18 4BP Date: 28-Oct-2025
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THE POLISH AIR FORCE MEMORIAL COMMITTEE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Note Income from: Donations and legacies 2 Charitable activities Total income Expenditure on: Charitable activities Total expenditure Net income/(expenditure) before net gains on investments Net gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2024 £ 5,250 - 5,250 - - 5,250 - 5,250 - 5,250 5,250 |
Unrestricted funds 2024 £ 8,945 1,867 10,812 16,704 16,704 (5,892) 12,506 6,614 140,830 6,614 147,444 |
Total funds 2024 £ 14,195 1,867 16,062 16,704 16,704 (642) 12,506 11,864 140,830 11,864 152,694 |
Total funds 2023 £ 4,827 1,253 |
|---|---|---|---|---|
| 6,080 30,877 |
||||
| 30,877 (24,797) 9,191 |
||||
| (15,606) 156,436 (15,606) |
||||
| 140,830 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 12 form part of these financial statements.
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THE POLISH AIR FORCE MEMORIAL COMMITTEE
BALANCE SHEET AS AT 31 DECEMBER 2024
| Note Fixed assets Tangible assets 6 Investments 7 Current assets Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 8 Net current assets / liabilites Total assets less current liabilities Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
14,343 14,343 (3,450) |
2024 £ 396 141,405 141,801 10,893 152,694 152,694 5,250 147,444 152,694 |
- - (3,861) |
2023 £ 792 143,899 |
|---|---|---|---|---|
| 144,691 (3,861) |
||||
| 140,830 | ||||
| 140,830 - 140,830 |
||||
| 140,830 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Krzysztof Aleksander de Berg
Date: 27-Oct-2025
The notes on pages 7 to 12 form part of these financial statements.
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THE POLISH AIR FORCE MEMORIAL COMMITTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 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 to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 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.
The Polish Air Force Memorial Committee meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate reources 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.
1.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it 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.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
All expenditure is inclusive of irrecoverable VAT.
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THE POLISH AIR FORCE MEMORIAL COMMITTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting policies (continued)
1.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to 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:
- Display cases Over 3 years
1.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
1.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term 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.
1.8 Liabilities and provisions
Liabilities 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 Charity 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 to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
1.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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THE POLISH AIR FORCE MEMORIAL COMMITTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting policies (continued)
1.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity 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 Charity 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 statements.
2. Income from donations and legacies
| Donations Total 2023 |
Restricted funds 2024 £ 5,250 - |
Unrestricted funds 2024 £ 8,945 4,827 |
Total funds 2024 £ 14,195 4,827 |
Total funds 2023 £ 4,827 |
|---|---|---|---|---|
3. Income from charitable activities
| Sale of books Museum sales |
2024 £ 1,316 551 1,867 |
2023 £ 906 347 |
|---|---|---|
| 1,253 |
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THE POLISH AIR FORCE MEMORIAL COMMITTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. Expenditure on Charitable activities
| Charitable expenses Accountancy Memorial costs Depreciation Insurance Museum costs Sound systems Miscellaneous IT Costs Donations made |
2024 £ 3,630 10,463 396 202 1,321 432 240 20 - 16,704 |
2023 £ 5,100 7,804 396 192 1,465 408 114 398 15,000 |
|---|---|---|
| 30,877 |
5. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .
During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL) .
6. Tangible fixed assets
| Cost or valuation At 1 January 2024 At 31 December 2024 Depreciation At 1 January 2024 Charge for the year At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
Fixtures and fittings £ 2,941 |
|---|---|
| 2,941 | |
| 2,149 396 |
|
| 2,545 | |
| 396 | |
| 792 |
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Docusign Envelope ID: C3DBD615-1142-4CF9-8E5E-1C0E97C4A65C
THE POLISH AIR FORCE MEMORIAL COMMITTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
7. Fixed asset investments
| Cost or valuation At 1 January 2024 Funds extracted Revaluations At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
Listed investments £ 143,899 (15,000) 12,506 |
|---|---|
| 141,405 141,405 |
|
| 143,899 |
8. Creditors: Amounts falling due within one year
| Bank overdrafts Accruals and deferred income |
2024 £ - 3,450 3,450 |
2023 £ 561 3,300 3,861 |
|---|---|---|
9. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 January 2024 £ 140,830 - 140,830 |
Income £ 10,812 5,250 16,062 |
Expenditure £ (16,704) - (16,704) |
Gains/ (Losses) £ 12,506 - 12,506 |
Balance at 31 December 2024 £ 147,444 5,250 |
|---|---|---|---|---|---|
| 152,694 |
The restricted fund relates to a project to fund a Spitfire flight from London to Poland.
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THE POLISH AIR FORCE MEMORIAL COMMITTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
9. Summary of funds (continued)
Summary of funds - prior year
| Balance at | Balance at | ||||
|---|---|---|---|---|---|
| 1 January | Gains/ | 31 December | |||
| 2023 | Income | Expenditure | (Losses) | 2023 | |
| £ | £ | £ | £ | £ | |
| General funds | 156,436 | 6,080 | (30,877) | 9,191 | 140,830 |
10. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Restricted funds 2024 £ - - 5,250 - 5,250 |
Unrestricted funds 2024 £ 396 141,405 9,093 (3,450) 147,444 |
Total funds 2024 £ 396 141,405 14,343 (3,450) |
|---|---|---|---|
| 152,694 |
Analysis of net assets between funds - prior period
| Tangible fixed assets Fixed asset investments Creditors due within one year Total |
Unrestricted funds 2023 £ 792 143,899 (3,861) 140,830 |
Total funds 2023 £ 792 143,899 (3,861) |
|---|---|---|
| 140,830 |
11. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 December 2024.
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Docusign EnvelopÈ ID". C3DBD615-11424CF9-8E5E-1COE97C4A65C