THE CENTRE FOR MAIDENHEAD HERITAGE TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
The Centre for Maidenhead Heritage Trustees. Report and Financial Statements for the Period l April 2023 to 31 March 2024 The Trustees present their report and the financial statements for the period l April 2023 to 31 March 2024. The cent for Maidenhead Herltage Is an Association Charitable Incorporated Organisation (CIO) registered with the Charity Commission. It was registered on 25 January 2021. Following a vote by members of Maldenhead Heritage Trust in 2019 the CIO was created in order to assume responsibility for the activities of the Trust, which was an unincorporated body. Objectives and activities The purposes for which the charlty was set up a. to advance the education of the public by providing a heritage museum for the exhibition to the public of objetts, documents, photographs and other items connected with the history of Maidenhead and its surrounding districts. The principal activities undertaken by the charity are: providing physScal access to the museum to members and the general public and to the collections; providing online access to an extensive catalogue of historical documents and artefacts; giving talks and presentatlons to interested groups, ranging from schools and youth groups to retlred adults and Ca homes. This engagement wlth the whole local community is of the utmost importance presenting the history of the Second World War aircraft ferrying organisation Air Transport Auxiliary (ATA), which had its headquarters at nearby White Waltham airfield from February 1940 until November 1945. Throughout, the trustees have had due regard to the guidance Issued by the Charity Commission on public benefit. We rely heavily on the input of a band of volunteers without whom the museum would have to cease to operate. We are extremely grateful for all the support they provide. They assist us in multiple ways, includlng: setting up and dismantling exhibits; manning the museum on a daily basis. answering querles. handling sales through our onllne shop and the museum shop.
running the ATA gallery and the Spitfire simulator; delivering historical talks and workshops to schoolsi youth groups and adult groups. assisting with bookkeeping and accounts. We employed two part-time staff, a manager/administrator and a curator. We also owe them a debt of thanks for all their efforts. Achievements and performance The total number of visitors between l April 2023 and 31 March 2024 was 3101, a very small increase on the previous year but still significantly below pre-covid levels. However the number of school and young people (Se cubs/brownies/etc) workshops and talks to adult groups increased over the previous period. Nevertheless, we continue to provide access to a wealth Of historical information and artefacts for the benefit of all of our visitors and, via our website, the wider world. During the year we took delivery of the 1737 Bray fire pump, owned by Bray Parish Council. Its slze requlred a further rearrangement of the ground floor gallery with the reduttion of space previously used for retsil sales. Nevertheless the fire pump has created a great deal of interest among visitors. The nationally important ATA Collection continued to grow. In particular, we know how much people outside the UK appreciate access to the ATA archive because many of the pilots who were in the ATA came to Britaln from overseas durlng the Second World War. We also receive requests for access to the archive for television programmes and for research purposes and regularly cooperate with the authors of fittion based on the ATA story. The Spitffire simulator, part of the ATA gallery, branded as Grandma Flew Spitfires, continues to be extremely popular with people of all ages and visltors from all over the world. Financial review The enclosed financial statements cover the perlod from l April 2023 to 31 March 2024, the second the first full financial year since the CIO took over operations from Maldenhead Heritage Trust on 1st October 2021. In general, visitor numbers are slowly recovering from the effects of the pandemic. The balance sheet has been adversely afferted by a number of factors, i,e. loss of the Kirkstart employment grant with a consequent increase in staff costs, redurtion In Income from core activities, and a substantial increase in support costs (l.e. repairs and maintenance. eneryy, other seniices). As the SOFA shows, our principal sources of income are donations, cultural and educational activities, and physical and onllne shop sales.
The popular Spitfire simulator contributes a useful sum to the balance sheet. The trustees will seek ways of increasing the utilisation of the simulator and therefore the income from it. As explained more fully In the notes to the accounts, these financlal statements reflect the day-to-day operations of the museum the CIO has taken over from the Heritage Trust. The museum operates from freehold premises at 18 Park Street, Maidenhead purchased by Maidenhead Heritage Trust with the help of a Loan Grant from the Baylis Trust, which is secured on the property. The formal legal processes of transferring the property to the CIO and of replacing the Loan Grant to one made to the CIO have not yet been completed and, accordlngly, these accounts do not include the property or the loan. Reserves equivalent to the net equity position in the property have also not been transferred but will be once the legal formalltSes have been completed. The book value of the property as at l October 2021 was £700,561 and the Loan Grant is £455,000, so the net figure of reserves still held by the Trustees of Maldenhead Heritage Trust is £245,561. The loan is interest-free. Excluding the property and the loan, the balance of reserves totalling some £94,888 was transferred from the Maidenhead Heritage Trust with effect from l Ottober 2021 and at 31 March 2022 they have fallen to £94,742, so there was a net deficit for the period of £146. Overall, no reserves were in deficit at the period end. We do not have a specific policy determining the level of reserves that we should hold but we are always conscious to keep annual expenditure within income where at all possible. The accounts have been prepared on a going concem basis. This assumes that the freehold property and the associated Loan Grant can be transferred to the CIO. The Loan Grant wlll be repayable by December 2026. If we are unable to repay the loan in the meantime, the property may have to be sold to repay the loan. The principal risks facing the charity currently are: whether we will be able to repay the Loan Grant from the Baylis Trust by December 2026. and dlfflcultles raising funds at a time when people's incomes are under pressure due to the cost-of-llvlng crisls. To address these rlsks Trustees must undertake major fund raising initiative wlth the utmost urgency.
Structurei governance and management The CIO Is governed by a Constitution adopted on 25 January 2021. The Trustees are all members of the CIO but as an Association CIO we have members other than the Trustees. The liability of all members in the event of the CIO having to be wound up is zero. In seletting new trustees we endeavour to broaden the board's business and charitable experience as much as possible. Members or existing trustees can appoint trustees. There must be at least three trustees at all times and no more than 12. Reference and administrative detalls The CIO is registered in England and Wales. The registered charity number is 1193240. The charity operates the Maidenhead Heritage Centre and as the Air Transport Auxiliary museum and gallery. Our princlpal address is: Maidenhead Heritage Centre, 18 Park Street, Maidenhead SL6 ISL. Trustees The names of the charity Trustees, who We appointed on 25 January 2021 and who were in office throughout the period since incorporatlon are: Christopher Hobbs (resigned 12 February 2024) Alan Mellins (Chairman) Richard Poad MBE Martin Sandford Stewart White Richard Poad is one of flve people who hold the legal title to 18 Park Street, along with four former trustees of Maidenhead Heritage Trust. They have held the title since the property was aCquid. As explained above. steps are being taken to transfer legal ownership to the CIO. The Trustees declare that they have approved the Trustees. report above Signed on behalf of the charity's Trustees by Alan Mellins (Chairman) Signatu Date: OGTr&cC 2£) L
THE CEPrniE FOR MAIDENHEAD HERAfjE srATEMENT OF FifiANaALAcnviTIES FOR THE PERIOD ENOt031 PAAROI 3t)24 IAPRIL X)23T031 MARCY W24 2023 Get&FundS Total INCOMING RESOURCES tsonationsand ley0è5 SubscdptiQn5 CuEtUfal edu(ational aLIth Grants OthernIactlyltlQ5 19, 1.175 11345 19. 1.175 11445 ZO,759 1,570 14.143 5.426 2J88 3S.813 45,828 RESOUJICÉS EXPENDED Expendlture on.. Raignglund5 Staff costs Le831 and profewhal lees pport cos 4,462 32,405 3,750 26,410 4333 29.355 5,729 17,820 314C6 3,750 25517 8T1 8n 67.027 57.237 p4rriNCOME TRMSFERSBEfwE£N FUNDS Ntr MQVEMENTOF FUNDS OPENING V%iANCE CLOSING BLANCE I341} 13L2141 IIL4091 I.342) 57A3a 27,OYI 18721 IIL4051 94,742 83.3 83.333 52,119 25,028
THE CENTRE FOR MAIDENHEAD HERryAGE BALANtETrEEfASATJI MNJIOI 1014 FLXEDASSEYS (thr KdAsSl% 717 i? CVRREiifASSErs Sto(kand rolletdon5 Debtorsand prepaymth and ifthand 5JJl 25 43397 6.410 2396 T2274 8LOJY CVRREiifuAB ethtors attd artru3& NETCURRÉinASSETS 123S 49S)3 &V33 51119 83333 NAESTRICTEOFUM rnulated fund BrauWrtfor¥fdrd MDvèmÈntlttrthèpEftod Owin8 balance 57M33 1303421 195211 17 57833 PEsfRICJEDFUND5 Brought forward Transfèrto Rtsttstwd Ca0 Movemenrf¢rthepef Clwn8ba14n 24.7C (U97) IX433 21411 REsfRIcYEDCAPITALFIIMDS L191 TrafroM Restrfftd Movementfurthe petiod (8n) 217 L192 TQTAIWJNP5 52.E19 83333 Appr(fved b¥thETrl•e5 0d¢tre¥ beWbY- AMdnn4th3lrrn
THE CENTRE FOR MAIDENHEAD HERrrAGE NOTES TO AND FORMING PART OF THE Accourfrs FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNllNG POLICIES lal These flnanclal statements have been prepared under the histortcal cost convention w6th Items colnIsed at ¢ost or transaction value unless othenvise stated in the relevant notelsl to these accounts and in accordance with the Statèment of Re¢ommeAded Pra¢tice= Accounting and Reporting by Charitie5 pieparing thebr account5 in accordance wth the Financial Reporting siandard applicable in the UK and Republic of Ireland ISORP FRS 1021 Issued on 16 July 2014 and with the tharities Act 2011. Figures are stsied in pounds sterlln8. The charity has taken adv3ntage of the provisions in the SORP (update bulletin Il not to prepare a Statement of Cash Flows. The Centre for Maidenhead Herftage meets the definltlon of a publlc benefft en1¥ under FR5 102. Ibl The accounts have been prepared under the going concem basis. Icl These statements ère for the period from l April 2023 to 31 March 2024. The Charity took over the operations of Maidenhead Herttage Trust wlth effett from l Ortober 2021. As described in Notès 3 and 4 , the freehold properly, 18 Park Street, Maidenhead, from which the museum operates. is not reflected in these figure5 beca¢Jse le8al title to the property and a new 8rant of the Loan from the Baylis Trust, which is to be secured on the property and whith was used to help purchase the property originally, have not yet been transferred Into The Centre for Maldenhead Hèrltage. Idl Where funds are reIVed for dedicated purposes they are allocated to funds ac¢ordln8 to the restrlrtions placed on them by the donor or payer. lel DepcIatIOn is prowded at the following annual rates in order to wrlte off ea¢h asset ovef its èstimated useful Ilfe. IndIVdlla1 Items under £500 are expensed in the year acquired. Equlpment 25% Reducing bèlan lfj Income is retognlsed In the Statement of Financial Activities ISOFAI when thè charlty lil becomes entltled to the resources, lill it is more likely than not that the trustees will recelve the reSoUe$ and liiil the monetary value can be measured with sufficlent reliability- Igl Donated Boods and servl¢es are not recorded in the accounts because of the dlfflcultles assessing their falr value and because the time and effort lo do so would be disproportionate. Ihl Llabilltles are recognised where it is more likely than not that there Is a legal or constructlve obllgatlon commlttlng the charity to pay out re50tsrces and the amount of the obligation ran be measured WTth reasonable rtainty. lil The Centre for Maldenhead Herltage is not liable to tax on Its Income or galns as these are applied for charitsble purposes. til Shop stock Is va5ued at the lower of cost and net alISable value.
THE CENTRE FOR MAIDENHEAO HERITAGE NOTES TO AND FORMING PART OF ThE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 INCOMING RESOURCES 2024 2023 Chantable cultural ond educotlonol artivities: Grdndma Flew Spiffire Sirnulator and ticket sales Talks River trf School vistts 7.806 2.244 1,370 925 11345 9.168 2,501 1,910 564 14.143 Grants Kickstart employment support grant 6,151 6.151 RESOURCES EXPENDED 2024 2023 Raislnqlund5'. Goods for resale A(Svertisin and marketin Cost of events and exhibitions 1,573 791 2,098 4A62 295 2,670 1.368 4.333 5toff costs Wages and salaries Defined contribution scheme penslon contrlbutior 31.842 563 31405 22.737 467 23,204 ortcostr. Property costs Volunteer expenses Print. post and stationery Tele hone Equipment repaSrs and malntenance Bank charges Credit Card ènd Pav al char Internet and website Depreciation Miscellaneous 16,130 403 7,452 674 682 783 1.627 90 1,476 1,995 206 1.672 16,657 738 2.677 li 762 1,373 872 1,940 26A09 es lincludin rental and su rt fees) All res¢)urces expended UltiMater relate to runnin8 our charitable aclivities.
THE CENTRE FOR MAIDENHEAD HERITAGE NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 4 TANGIBLE FIXED ASSETS Total Cost Biou t fon¥ard Addition5 Disposals At 31 March 2024 99.622 99,,622 99 22 De reciation Brought forward Disposals CharEe for Period Dis osals At 31 March 2024 96,133 96.133 872 872 Net Book Value At 31 March 2023 At 31 Marth 2024 As explained above. the freehold property from whith the museum operate5 has yet to be transferred to TCMH and so has not been reflected in these accounts because the legal tide ha5 yet to be transferred. This process 1% underway. LOAN GRANT The Loui5 Baylls Maidenhead Advertiser TrtE5t lent the Trustees of the Maidenhead Heritage Trust £455,0 to help finance the purchase and refurbishment of 18 Park Street, Maidenhead. Uability has not yet been formally transferred to The Centre for Maldenhead Herttage but the leB31 proce5$ 15 underway. Repayment of the loan is to be extended to December 2026. The loan will be secured on the freehold property when that has been transferred to the CIO. The loan must be repaid in full on the earlt of= the drity ?5n8 busine55, the property beln8 sold Is sold or December 2026. 5. RESTRICTED FUNDS ANALYSIS Brought Forward Transfer in year Change in period Carrled fOnard Restrlrted capital funds Giandma Flew Spitfires Exhlbit 2297 Other restrlrted funds Grandma Flew Spiffires Appe31 Lobby Other TOTAL 15.167 5.859 3,682 -1297- 12,870 5.859 3,682
THE CENTRE FOR MAIDENHEAD HERITAGE NOTES TO ANO FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 6. TRANSFER OF UPIDERTAKING FROM W410ENHEAD HERITAGE TRusr In furtherance of a resolutlon passed by thè members of Maidenhead Herltage Trust at their 2019 Annual General Meetin& The Centre ftsr Maidenhead Herttage IYCMH") was created as an Association Charitable Incofporated Organisation, and approval of the Charity Commlssion to transfer operalons to the CIO from ihe Maidenhead Heritage Trust wa5 obtalned. On 30 September 2021 the Tntst ceased day-ttrday operations and at midnight on that day the operations were transferred to TCMH. The Heritage Centre's operations have continued unchanged and TCMH has assumed the all but one of the Ilabllltles of Maiderthead Heritage Trust. At the time of th report the legal trile in the freehold property from which the charitv operates and the assi8nment of the Loan Grant from the Baylis Trust are still in the COrSe of being transferred, sublett to flnal agreement of terms and regulatory approval. Although Maidenhead HeTita8e Trust is to be wound up in due course. no adju5trnent to the carrying values of the assets or liabilities in these financial statements is considered to be nece55ary as the transfer to TCMH has been arranged to allow the Centre to continue operate unchanged. The Ilablllty of members to contrlbute to the CIO'S Ilabllities In the event of a winding up is capped at zero. under the Constitution. 7. TrUSTEES' EXPENSES AND BENEFITS None of the trustees received any remuneratlon or benefits in the period. Any experses that were reimbutsed were all for acting a5 agent for the CIO. 8. EMPLOYEES The average number of eMploS In the perfod was 2. 9, PENSIONS The CIO provides a defined contribution pension stheme for ellglble ernployee5. Contributsons are paid as they fall due and are held in Separately administered funds.
CHARITY COMMISSION I Independent examinerfs report on the FOR ENGIAND AND WALES accounts Section A Independent Examiner's Roport Report to the trustses The Centre for Maidenhead Heritagg On accounts for the year 31 March 2024 Charlty no lif any) 1193240 Set out on pago91 I report to the trustees my examination of th8 accounts of the above charity llhe Trust") for the year ended 31 March 2024. Responsibllltles and bo$1$ of report As the charivs tNst8es, you are reswngible for the preparation of the accounts in accordance requirements of the Charites Act 2011 he Act") I report in respect of my examination of the Tfusvs accounts carried out under seth'on 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Chanty Commi*sion un¢Jer s&¢tion 145(51{b} of the Act. Independent I have completed my examination. S confim that no material matters have examin•r'$ 8t2t8ment come lo my attenb.on in cnnnection Yth the examination which gives me cause to believe that in, any material respect.. Itte accounts.ng records were not kept in accordance with section 130 of the Charibes Act; or the accounts dtd not accord wth the accounting records. or the accounts not comply wrth the applicable requirements oneerning the fom and content of accounts set out in the chariti.es (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ITue and fair, view which is not a matter consKlered as part of an independenl examination. I have no Goncems and have come attoss no olher matters in connection with the examination to which attention should be drawn in this report order to enable a proper understanding of the accx)unts to be reached. Signed: Date: 24- 30 Name: ROSALIND HAZELDINE Relevant professional qualiflcatlon($l or body {If any): Edelwyn, Dean Lane, Cookham Dean, Maidenhead SL6 9AG Address: