Company Registration number.. 11986804
Charity Registration number". 1189611
County Classics Motor Museum
IA company limited by guarantee)
Annual Report and Unaudited Financial Statements
for the Year Ended 31 May 2024
E Bagg - Accounts
51 Kings Drive
Weslonzoyland
Somerset
TA7 OHJ

County Classics Motor Museum
Contents
Company Information
Trustees, Report
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes lo the Financi81 Statements
Income and Expenditure Account
10

County Classics Motor Museum
Company Infonnation
Directors
Mr Patrick Hawkins
Mr Derek Corbett
Mrs Elizabeth Bagg
Janel Linda Pritchard
Company number
11986804
Charity number
1189611
Prlnclpal address
52-53 North Street
Taunton
Somerset
TA1 1ND
Reglstered offlce
E Bagg - Accounts
51 Kings Drive
Weslonzoyland
Somersel
TA7 OHJ
Accountants
E Bagg- Accounts
51 Kings Drive
Westonzoyland
Somerset
TA7 OHJ
Page 1

County Classics Motor Museum
Trustees, Report including Directors, Report
The trustees present their annual report and financial statements for the year ended 31 May 2024.
The financial slalemenls have been p￿ pared in ac¢ord8nce with the accounting policies sel out in note
1 to the financial slalements and comply with the charity's Memorandum and Articles of Association,
the Companies Act 2006 and Accounting and Reporting by Charities. Slalement 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" (effective 1 January 20191.
Objectives and activities
The objects of the charity, as sel out in the governing document are".
To advance education by the eslablishmenl and maintenance of a museum lo promote appreciation
and knowledge in the developrnent and evolution of the motor car and other motor vehicles and their
attendant parts, designs and teehnology.. and by the preservation and restoration of motor vehicles and
moloring related items to inform the study of the motor vehicle.
Achlevements and perfomiance
During the financial year work continued on the refurbishment of the museum in preparation for opening
to the public. During this lime the trustees have applied the guidan￿ on public benefit issued by the
Charity
structure. governance and management
The charity Is a charitable company limited by guarantee registered on 9 May 2019 under charity
number 1189611. The goveming document is the company's Memorandum and Articles of Association
drafted 8 October 2019. Responsibility for setting policy and for determining the parameters within
which the charity should operate rests with the Iruslees who meet regularly to monitor the activities of
the charity.
The trustees, who are also the directors for the purpose of company law, and who served during the
year and up to the dale of signature of the financial ststemenls were..
Mr Patrick Hawkins
Mr Derek Corbett
Mrs Elizabeth Bagg
Janel Linda Prilchard
The charity may by ordin2ry resolution appoint a person who is willing to act to be a trustee either lo fill
a vacancy or as an additional Iruslee and may also determine the rotation in which any additional
trustees are lo retire.
The number of Iruslees shall not be less than three bul there is no maximum number
None of the trustees has any beneficial interest in the company All of the Iruslees are member5 of
the company and guarantee lo contribute a maximum of £10 in the event of a winding up.
Key risks and uncertainties
The charity is exposed lo various risks be they opèrational. financial or reputational. The director
Iruslees review the charity's activities regularly to identify significant risks and, where possible. they
take appropriate measures lo mitigate those risks. The risk register is updated 3 monthly and
considered at each Board meeting.
Page 2

County Classics Motor Museum
Trustees, Report including Directors, Report (Continued)
The trustees, report was approved by the Board of Trustees.
Mr P Hawkins
Chair
24th October 2024
Page 3

Independent Examinerf8 Report to the Trustee8 and Dlrectors of the
County Cla88iC8 Motor Museum
for the Y•ar Ended 31 May 2024
I reportto the trustees on my examination ofthe financial slAtements of County Classts Motor Museu
(the charity) for the year ended 31 May 2024.
Responslblllt106 and bash of report
A% the trustees of the charity land also its directors for the purposes of company law} you are
re$ponsible for the preparat￿ of the financial statements in accordance with the iequirements of the
Companies Act 2006 Ithe 2006 Actl. Having satvsfied myselfthal the finan¢ial ststemenls of the charity
are not required to be audited under Part 16 of the 2006 Act and are eligibl& for independent
examination, I report ir4 respect of my examination of the charity'sfinancial statements carried out urider
sKtion 145 of U).e Cttaritses Act 2011 (the 20? 1 Act}. In carying out my examinab'on I have folkjwed
all the applicable D5￿CtiOns gNen by the Charity Commission ur*der section 145{5}Ib) of the 2011 Act.
Indo￿ndent oxaminef6 ststpmgnt
I have completed my examination. I confirm that no matters have come to my attention in connection
with the examination gtving me cause to believe that in any material respect..
accounting records were not kept ift respect of the charity as required by seth.on 386 of the
20C6 Act.. or
2. the finanttal statements do not accord with those records,, or
3. the financial stateThnts do not compty with the accounting requi￿rne￿ts of section 396 of the
20C6 Act oth8r than any wuirement that the accounts give 8 true and fair view which ig not a
matter considered as part of an Ir￿ePer$denI examination. or
4. the financial statements hav8 riot been prepared in accordance￿th the methods and principles
ofthe Ststement of Recommended Practtce for accounting and rePo￿ng by char￿"e5 applicable
to chaNties preparing their accounts in accordance wth the Financial Reporting Standafd
appl¢able in the UK and Republic of Ireland IFRS 1021.
I have no con¢ems and have come across no other matters in connection with the examination lo which
attention should be drawn in this report in order to enable a proper understsnding of the fin8ncial
ststements to be reached.
Rev Geoff Bowyer FCA CTA
GeeFa Accountsncy Limited
36 Bakers Cbse
Bishops Hull
Tauntors
TAI 5HD
Dated. As 2è1f

County Classics Motor Museum
Statement of FinancialActivities including Incom8 and Expenditure Account
forthe year ended 31 May 2024
2024
2023
Income from:
Grants
Donations
S81es
Total Income
24￿7
246,837
Expenditure on..
Purchases
Staff Pensions
Wages
Rent, rates and services
Utilities
Insurance
Repairs & Renewals
Depreciation
Telecommunications
Legal and professional
Accountancy
Advertising
Independent Examination
Printing, postage and stationery
Uniform
Subscriptions
Sundry
Motor Expenses
Bank Charges
Total R8sources Expended
39,531
505
110,766
11471
13,180
2,717
31.336
8,180
81
1,367
538
691
7,595
821
5,984
4,328
250
827
2,000
250
4,007
172
1,135
1,010
49
Not incoming resources
Fund balance at 1 June 2023
&0SB
Fund balance as 31 May 2024
The statement of financial activities includes all gains and losses recognised in the year
All income and expenditure derive f rom continuing activities
The statement of financial activities also complies with the requ irements for an income
and expenditure account under the Companies Act 2006

County Classics Motor Museum
Balance Sheet as at 31 May 2024
Fixed Assets
Tangible Assets
2024
42,999
2023
32,967
Current Assets
Cash at Bank
Debtors
37,287
1,869
1,630
Creditors
Amounts falling due within one year
Trade creditors
Taxation and social security
Accruals
1.180
6,049
13,063
3,677
Net Current Assets
26,093
-2,047
Credltors: amounts falling due after more than one year
Loan
56.058
38,221
Total net assets
13.034
-7.301
Income Funds
Unrestricted funds
Total Funds
The comp8ny is entitled to the exemption from the audit requirement contained in sections477
ofthe Companies Act 2006for theyear ended 31 May2024
The directors acknowledge their responsibilities for complying with the requirements of the
Companies Act 2006 with respect to accounting records and the prep8ration of financi81
statements.
The members have not required the company to obtain and audit of its financial statements for
the year in question in accordance with section 476
These financial statements have been prepared in accordance with the provisions 8ppIic8ble to
companies subject to the small companies regime and in accordance with FRS102 SORP
The financi81 statements were approved by the Trustees on 24, October 2024.
Mr PHawkins
Trustee

County Classics Motor Museum
Notes to the Financial Ststements
for the Year Ended 31 May 2024
1 General information
The company is a company limited by guarantee, incorporated in England and Wales. and consequently
does not have share capital. Each of the members is liable to contribute an amount not exceeding £10
towards the assets of the corllpany in the event of liquidation.
The address of Ils registered office is".
E Bagg Accounts
51 Kings Drive
Weslonzoyland
Somerset
TA7 OHJ
The principal place of business is..
52153 North Street
Taunton
Somersel
TA1 1ND
2 A¢¢ounting pollcles
2.18asis of preparation
The financial statements have been prepared in accordance with the charity's Memorandum and
Articles of Association, the Companies Act 2006, FRS 102 Se¢lion 1A The Financial Reporting
Standard applicable in the UK and Republic of Ireland" l FRS 102,1 and the Charities SORP
"Accounting and Reporting by Charities." Slalemenl of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Stsndard applicable In the UK and
Republic ol Ireland IFRS 1021" leffeclive 1 January 20191
The charity h2s taken advantsge of the provisions in the SORP for charities not lo prepare a Stslement
of Cash Flows.
The financial slalements have been prepared under the hisloricaS cost convention. The principal
accounting policies adopted are sel out below
2.2 Going ¢on¢ern
At the lime of approving the financial slalements. the trustees have a reasonable expectation that the
charity has adequate resources lo continue in operational existence for the lore5eeable future. Thus
the trustees continue lo adopt the going concern basis of accounting in preparing the financial
slalemenls.
2.3 Charitable funds
Unreslricled funds are available for use al the discretion of the trustees in furtherance of their charitable
objectives.
2.4 Ineome
Income is recognised when the charity is legally entitled to it after any performance conditions have
been mel, the amounts can be measured reliably, and il is probable that income will be received.
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit
to a third p8ty. it is probable that a Iransler of economic benefits will be required in settlement, and the
amount of the obligation can be measured reliably.
Page 7

County Classics Motor Museum
Notes to the Financial Statements
for the Year Ended 31 May 2024
2. Accounting polieles
{Continuedl
2.6 Tangible fixed assets
Tangible fixed assets are initially measured al cost and subsequently measured at ¢051 or valuation.
nel of depreciation and any impairment losses.
Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values
over their useful lives on the following bases..
Plant and equipment- 200/0 pa
2.7 Impairment of flxed assets
Al each reporting end dale. the charity reviews the carying amounts of its tangible assets lo determine
whether there is any Indication that those assets have suffered an impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order lo determine the exlenl of the
impairment loss lif snyl.
2.8 Financial instruments
The charity has elected lo apply the provisions of Section 11 'Basic Financial Inslrumenls. and Section
12 '01her Financial Instruments Issues, of FRS 102 to all of ils financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes paty lo
the contractual provisions of the Instrument.
Financial assets and liabilities are offset, with the nel amounts presented in the financial stalemenls,
when there is a legally enforceable right lo set off the recognised amounts and there is an intention to
settle on a net ba51s or lo realise the asset and settle the liability simultaneously.
Basic financial assets
Basic fi'nancial 8ssets, which include debtors and cash and bank balances, are initially measured al
transaction price Including transaction costs and are subsequently carried al amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the
transaction is measurerj 81 the present value of the future receipts discounted al a market rate of
interest. Financial assets classified as re￿1vable within one year 8re not amortised.
Basic financial liabilities
Basic financial liabi5i11es. Including creditors and bank loans are initially recognised at transaction price
unless the arrangement conslilutes a financing Iransaclion. where the debt Instrument Is measured at
the present value of the future payments discounted at a market rale of interest. Financial liabi1ilies
classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary
course of operations from suppliers. Amounts payable are classified as current liabilities if payment is
due within one year or less. If not, they are presented as non-currenl liabilities. Tmde creditors are
recognised initially al transaction price and subsequently measured al amortised cost using the effective
interest method.
Derecognition of financial liabilities
Financial Iiabililies are derecognised when the charity's contractual obligation5 expire or are discharged
or cancèlled.
Page 8

County Classics Motor Museum
Notes to the Financial Statements
for the Year Ended 31 May 2024
3. Critical accountlng estimates and judgements
In the application of the charity's accounting policies, the trustees are required lo make judgen)ents,
eslimales and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other Sources. The eslimales and associated assumptions are based on historical
experience and other faetors that are considered to be relevant. Actual results may differ from these
estimates
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only
that period, or in the period of the revision and future peiiods where the revision affects both current
and future periods.
4. Trustees
None of the Iruslees lor any persons connected with Iheml received any remuneration or benefits from
the charity during the year.
5. Tangible fixed assets
Plant and
equipment
Cost
Al 1 June 2023
Additions
Disposals
At 31 May 2024
53,037
26,380
-8169
Depre¢iatlon and Impaimient
At 1 June 2023
Depreciation charged in the year
Al 31 May 2024
20,070
8,179
Carrying amount
Al 31 May 2023
Al 31 May 2023
32,967
42,999
6. Related party transactions
E B2gg-Accounts, who provides accountancy 2nd bookkeeping services lo the charity, is owned by Mrs
Elizabeth Bagg who is a trustee. The value of services provided during the year were £5,984 12023
£2.0001 including VAT and are considered at arms length. There is an accrual of £5,984 at the year end
for these services.
There were no other disclosable related party transactions during the year.
Page 9

This page does not form part of the statutory financial statements.
Page 10

Company Registration No 11986804
County Classics Motor Museum
Income and Expenditure Account forthe year ended 31 May 2024
2024
2023
Income from:
Grants
Donations
Sales
Total Incom8
246,837
Expendlture on:
Purchases
Staff Pensions
Wages
Rent, rates and services
Utilities
I nsurance
Repairs & Renewals
Depreciation
Telecommunications
Legal and professional
Accountancy
Advertising
Independent Examination
Printing, postage and stationery
Uniform
Subscriptions
Sundry
Motor Expenses
Bank Charges
Total Resources Expended
39,531
505
110,766
11471
13,180
2.717
31,336
8.180
81
1,367
538
691
7.595
821
5,984
4.328
250
827
4,007
172
2.000
250
1,135
1.010
49
226.47
Net incoming resources
20,364
Fund balance at 1 June 2023
Fund balance as 31 May2024
13,063