THE CENTRE FOR MAIDENHEAD HERITAGE TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD I APRIL 2024 to 31 MARCH 2025
The Centre for Maidenhead Heritage Trustees, Report and Financial Statements for the Period l April 2024 to 31 March 2025 The Trustees present their report and the financial statements for the period l April 2024 to 31 March 2025. The Centre for Maidenhead Heritage 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 Maidenhead Heritage Trust in 2019 the CIO was created in order to assume responslbility ft)r the attivities of the Trust, which was an unincorporated body. Objertives and activities The purposes for which the charity was set up are." to advance the education of the public by providing a heritage museum for the exhibition to the publlc of objetts, documents photographs and other items connected with the history of Maidenhead and its surrounding distrltts. The prlncipal attivities undertaken by the charity are: providing physical 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 providing online access to an extensive catalogue of historical documents and artefatts. glving talks and presentations to interested groups, ranging from schools and youth groups to retired adults and care homes. This engagement with the vvhole 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 volunto@rg without whom rnuse nave 10 cease ro operate. We are extremely grateful for all the support they provide. They assist us in multiple ways, including: setting up and dismantling exhlbits; manning the museum on a daily basis. answering queries. handling sales through our online shop and the museum shop; running the ATA gallery and the Spiffire simulator: deiiverlng historical talks and workshops to schoolsi youth groups and adult groups. um woul¢J
assisting with bookkeeping and accounts. In the year 2025-2025 we employed two part-time staff, a manager/administrator and a curator. We owe them a debt of thanks for all their efforts. The curator left our employment in April 2025. Achievements and performance The total number of visltors between i Aprll 2024 and 31 March 2024 was very similar to the previous year and therefore still below pre-covid levels. However the number of school and young people (ie cubs/brownies/etc) workshops and talks to adult gmups increased over the prevlous perlod. We contlnued to provide access to a wealth of hlstorlcal information and artefacts for the benefit of all of our vlsitors, whether in person or remotely vla our two Interconnetted websites. The internationally Important ATA Collection contlnued to grow. In particular, we know how much people outside the UK appreciate access to the ATA archive because many of the pilots who served wlth ATA came to Britain from overseas during the Second World War. We also receive requests for acces5 to the archlve for televlslon programmes and for research purposes and regularly cooperate wlth the authors of fiction based on the ATA story. The Spitfire slmulatori part of the ATA gallery. branded as Grandma Flew Spitfires, continues to be extremely popular wlth people of all ages and vlsltors from all over the world. Financial revlew The enclosed flnancial statements cover the period from l Aprll 2024 to 31 March 2025, durlng which an admlsslon charge for all vlsitors was Introduced to support the balance sheet. Charges for group vlslts and tslks to outslde groups We also Increased In Ilne with Inflatlon. The balance sheet has been adversely affetted by a substantlal Increase in support costs (i.e. repairs and maintenance, energy, other servlces). As the SOFA shows, our prlncipal sources of income are entry charges and Spltflre simulator charges, donations, cultural and educatlonal attivltles, and to a smaller degree than previously physlcal and onllne shop sales. The popular Spltfire slmulator contrlbutes a useful sum to the balance sheet. The trustees will seek ways of increasing the utlllsatlon of the simulator and therefore the Income from it. As explained more fully in the notes to the accounts, these financlal statementg reflect the day-to-day operatlons of the museum which operates 5 days per week from freehold premises at 18 Park Street, Maidenhead purchased in December 2006 by Maidenhead Heritage Trust wlth the help of a Loan from the Baylis Trust, whlch Is secured on the property. The formal legal processes of transferring this loan and ownership of the property to the CIO have not yet been completed and, accordingly, these accounts do not include the property or the loan. Reserrfes equivalent to the net equity position in the property have also not been transferred but w511 be once the legal formalities have been completed, estimated by early 2026. The book value of the property as at l October 2021
was £700,561 and the Loan is £455,000, so the net figure of reserves stlll held by the Trustees of Maidenhead 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 effett from l Ottober 2021. A deficit for the year to 31 March 2025 has arisen amounting to £20,304. We do not have a speciflc policy determinlng the level of reserves that we should hold but we are always conscious to keep annual expendlture wlthln Income where at all posslble. The accounts have been ppad on a going concern basls. Thls assumes that the freehold property and the associated Loan are transferred to the CIO. The Loan will be repayable in December 2026. If Trustees a unable to renegotlate or repay the loan In the meantime, the property may have to be sold to repay the loan. The principal rlsks currently facing the CIO are: whether we will be able to repay the Loan from the Baylls Trust by December 2026; and difficultles ralslng substantlal funds at a tlme when people's Incomes are under continulng pressure due to the cost-of-llving crlsls. To address these risks Trustees must l) Strengthen the board of trustees by recrultlng at least 3 addltlonal trustees, 2) undertake major fund ralsing inltiatlves wlth the utmost urgency, 3) open discussions wlth the Baylls Trust CIO as soon as the property and loan transfers dlscussed above have been completed. 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 Trustee5. The Ilablllty of all members in the event of the CIO havlng to be wound up Is zero. In seletting new trustees we endeavour to broaden the board's business and charltable 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 details 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 principal addsS is: Maidenheaiy Heritage Centre, 18 Park Street, Maldenhead SL6 ISL.
Slik-'44.i Trustees The names of the current CIO Trustees, who were appointed on 25 January 2021 and who were in office throughout the period since incorporation are: Alan Mellins (Chairman) Richard Poad MBE Stewart White Operating with the minimum number of Trustees is not a satisfactory situation. this was emphasized in early 2025 when the Chairman becarne ill and was temporarily unab'le to fulfil all his duties. Potential additlonal trustees have been identlfted and should be In position by early 2026. Richard Poad is one of five people who hold the legal title to 18 Park Street, along wlth four former trustees of Maidenhead Herltage Trust. They have held the title slnce the property was acquired In 2006. As explained above, steps are belng taken to transfer legal ownership to the CIO. The Trustees declare that they have approved the Trustees. report above Signed on behalf f the charity's Trustees by Alan Mellins (Chairman) . ji4&11.', ti'.,:r'.:, jl&i v;14
THE CEpifRE FOR WIIDENHEAD HtRtrAGE sTATENT0F RtIAMOALAcfivirn FOR THE PERIOD El¢31 MARQI Z015 ltsmlL X¢14T031 MARCH 2025 fjeneTrlf Fd$ Totsl INCOM114G RESOURCES Donatnsand Sub5crlpUorts CuttUralandedLu0n KtMtlES Gr¥nts Interest Otlrtradln8actWS 24057 24.057 19,905 1,175 1i34S 375 2,gs1 375 2.953 2,38B 779 41,779 35.813 REuRe£sEXPEOED Expendftuf+ Oh.. Hatsih8funds stsff ro¥t5 3.3X) 35.944 3,350 35.944 170 ZL618 4.462 32,405 3,?50 26,410 5upp)rtcosts 2L964 651 fj54 62,(*3 NETIPXOME TAANSFERS allWEEN FUNOS NETMOVEMENT OF FUNDS OPENING BhLANCE ¢1051hfj wcE 119,6501 16541 120.3041 119A501 16541 120.3041 83,333 51119 24.374 Y1.815
THE CENTRE FOR MAIDENHEAD HERITAGE BAiANCESH£Ef ASAT al MARCH 202S 25 NOTES FIXED 4SSETS Qtber A$5ets 1.%3 1617 cURRENTET$ Stock and rollectn$ P•brotsand prepiynents Cash at nkand in hJnd 217 6,233 2.167 25.833 5,934 J.. 43.397 34.233 cURRENTLmUTIES CreditDr5 accruals NET CUARENT ASSET5 TOTALASSEtS LESsCVRRVLIAÈUrnES $1.255 14.3811 IL7531 29A52 31A15 49,503 52.119 NEfASSETS 31.815 i2,119 UNRE5Tr1CTEClfUND5 Ccumulatodfund 8rought lorword TfaAsferfrom Rostricted Funds Movemorf fotthe period Ck>5ing b8tsrKe 27.091 57.433 t 119.650) 130A421 7.441 27AJ91. REsrRictED FUNDS BroLght fovtyard TrdTrSler io Restricted tsprtal Furhgs T¥[ert0 Restnded Funds Moveient For thè Pèriod Closing balan 21.411 21411 RE¥tIllCTED C4PITALFUNTrS rou8htfllrward Transferfr*m Restrlcteo FdS ovemehtfgf tr peDod ¢Iosin8 bakanre 1617 1,192 1.297 ".gl 18721 k"'£'_0-'4.'; 16S41 TOTALFUNDS 52.J19 Approve4 by ihe Trust 3ndsiEned Onthesrbeh•tr.- Monins.Ch¥irm3
THE CENTrE FOR MAIDENHEAD HERITAGE NOTESTO AND FORM114G PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 I. ACCOUNTING POLiaES lal These finanaal ststements have been prepared under the historO¢al cost convention wlth Items recognised at cost or transaction value unle55 Otherwise stated in the relw3nt notelgl to thesè acttjunts and In accordance wlth the Statement of Recommended Practi.. Accountln8 and Reporting by Charltie5 preparing thelr accounts in accordance with the Financoal Reportlng standard applicable in the UK and Republlc of Ireland ISORP FRS 1021 Issued on 16 ju 2014 and with the Charities Act 2011. Fi8ure5 arè stared In povnds sterlin8. The charlty has taken athanta8e of the pro¥lslons in the SORP lupdaie bulletln 11 not to prepare a Ststement of Cash Flows. The Centre for Maldenhead Herltsge meets the definition of a publrc benefft entity undef FRS 102. Ibl The accounts have bÈen prepared under the 8olng ¢oncem l)asls. Icl These statements are for the wlod from l April 2024 to 31 March 2025. The Charlty took over the operations of Maldenhead Heritage Trust wlth effect from l October 2021. As described in Note5 3 and 4 . the freehold property. 18 Park Street. Maidenhead, from whlch the museum operates, Is not reflected In these flgures because legal title to the property and a new Brant of the Loan from the Baylls Trust. which Is to be seeured on the property and whlch was used to help purthase the property orlglnally, have not yet been transferred into The Centre for Maldenhead Herltage. Idl Where funds are recesved for dedlcated purposes thty are allocated to funds accordln8 to thè restrtctlons placed on them by the donor or payer. lel Depredatlonls pri)vlded at the followln8 annual rates In order to wrlte off each asset over Its estlmated useful Ilfè. IndNidual items under £500 are expensed In the year acqulred. Equlpment 25% Reduc1 balance (Q Income Is recognlsed in the Statement of Financial Artlvltie5 ISOFAI when the charity111 becomes entitled to the resotjrtes, lill it is morè likely than not that the trust wlll recelve the resource5 and11111 the monetsry value can be measured wlth sufflclent rellablllty. Igl Donated goods and services are not recorded in the accounts because of the dlfficultie5 assesslnB their falr value and because the tlme and effort to do so would be dlsproportionate. Ihl Llabllltles are reco8nised where It Is rnore Ilkely than not that there Is a legal or t0nstrudSve obll8ation commSttin8 the eharlty to pay out reso(rrces and the amount of the obli8atlon on be measured wlth iea50nable certalnty. lil The Centre for Maldenhead Herttage Is not Ilable to tsx on Its irtcome or 8alns as these are applled for charltable purposes. li'l Shop Stock Is valued at the lower of cost and net reali5able value.
THE CENTRE FOR MAIDENHEAD HERAGE NOTESTO AND FORMING PARTOF THE ACCOUNTS FOR THE YEAR E14DED31 MARCH 2025 INCOMING RESOURCES 2025 2024 Chorltoble cultvmland edu(otlonolartfvftie5'. Grandma Flew S iffire Simulator and ticket sales Talks River tri School vislts 8,959 2.244 1,370 925 2,325 311 RESOURCES EXPENDÉD 2025 2024 Rulslnqfynds.. Goods for resale Advertisin and marketln Cost of events and exhlbltlons 1,573 791 2,098 4A62 1,018 1,392 3,350 Stu costs Wa e5 and salarles Defined contribution scheme nslon contributions 35.361 583 35,944 31,842 563 32.405 Support C05ts: Pro ert costs Volunteer expenses Prlnt, ost and statione Tele hone Equlpment re Bank charges Credit card and Paypal char8es lind4Jdln Internet and websitè Depreciation M15cellaneous 14,336 131 1,1 837 L491 181 834 1,595 6541 1,458 22.618 16,130 403 1,503 738 2.677 li 762 1,373 $72 1,940 26009 alrs and maintenance rentsl and su rt fees) I resources expended uifimately relate to running our charitsble actlvrtles.
THE CENTRE FOR MAIDENHEAD HERITAGE NOTESTO AND FORMING PARTOF ThE ACCOllPIt5 FOR THE YEAR EIIDED 31 MARCH 2025 4 TANGIBLE FIXED A55ETS 8rou ht forward Additions Dis osals At 31 March 2025 99.622 99,,622 DepreclatSon Brou hl forward Dls osals Char e for Period Dls Sals At 31 March 2025 97.5 654 65 P4et Book Valu• At 31 March 2024 At 31 March 2025 As explalned above. the freehold property from whlch the museum operate5 has yet to be transferred to TCMH and so has not been refiected In these accounts because the legal tltle has yet to be transferred. Thls process Is underway. LOAN GRANT The Louls 8aWls Maidenhead Advertlsw Trust lént the Trustees of the Maidenhead Hèrita8e Trust £455,CW to help flnance the purchase and refurblshment of 18 Park Street, Maldenhead. LlJblllty has not yet been formally transferred to The Centre for Maidenhead Heriiage but the legal process is underway. Repayment of the loan Is to be extended to Dember 2026. The loan will be secured on the freehold property when that has been transferred to the CIO. The loan rnust be repald In fvll on ihe earllest of: the charfty asIng buslness, the property being sdd is sold or December 2026. 5. RE¥fRicfEO FUNDS ANALYSIS BfOU8ht Forward Transfer In ye•f Chan In perlod Carrled forward R•SIr•d upltsl funds Grandma Flew Spitfires Exhibit Other restrkned fvnds Grandma Flew Spiffires Appeal Lobby Other TOTAL 12,870 S.B59 3.682 12,870 5.859 3,682
THE CENTRE FOR MAIDENHEAD HERffAGE NOTES TO AND FORMING PAirr OF THE ACCOU14fs FOR THE YEAR ENDED 31 MARCH 2025 6. TrANSFER OF UNDERTAKING FROM MAIDENHEAD HERifAGE TRL15T In furtherance ol a ie501ution passed by the members of Maidenhead Heritsge Trust at their 2019 Annual General Meetin& The Centre for Maidenhead Heritage IYCMH") was created as an Association Charitabl@ Incorporated Organlsation. and approval of the Chartty Commission to transfer operations to the CIO from the Maldenhead Heritage Trust was obtained. On 30 September 2021 the frust ceased day-to4ay Operatio and at midnight on that day the operations were transferred to TCMH. The Heritsge Centrds operations have continued unthanged and TCMH has assumed the all but one of the liabilities of Maidenhead Heritage TrusL At the tlme of this report the legal tIe in the freehold property from which the charity operates and the assignment of the Loan Grant from the Baylis Trust are Still in the course of bein8 transfÈrred, subject to final agreement of terms and regulatory approval. Although Maldenhead Heritage Trust is to be wound up in due course. no adjustment to the ¢arryln8 values of the assets or liabilities In these financial statements 15 considèred to be necessary as the transfer to TCMH ha5 been arranged to allow the Centre to continue operate unchanged. The l¥ability of members to contribute to the a¢Y5 liabilitie5 In the event of a winding up 15 capped at zero. under the Conslitulion. 7. TRUSTEES, EXPENSES AND BENEFrr5 None of the trustees réceivèd any remuneration or benefits in the period. Any expenses that were reimbursed were all for acting as a8ent for the CIO. 8. EMPLOYEES The average number of employees in the period was I 9. PENSION5 The CIO provides a defined contribution pension scheme for eligible employees. Contributions are paid as they fall due and are held in separately admlnlstered funds.
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trustses The Centre for Maidenhead Hentsge 31 March 2025 On accounts for the year ended Charity no (If any) 1193240 Sèt out on pages 5-10 I rèport to the trustees on my examination of the accounts of the above charity fthe Trust.) for the year ended 31 March 2025. ftesponsibilltles and basls of report As the charivs trustees. you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 llhe Actl. I report in respect of my examination of the Trust's accounts carried out uThYer section 145 of the 2011 Act and in carying out my examination, I have followed all the applicable Directions given by the Charity Commis8ion unaer section 145(5){b) of the ACL Independent I have completed my examination. I confim that no material matters have examinerfs ststement come lo my attention in connection with the examination which gives me Cause to believe that in. any material resFecl". the accounting records were not kept in accordance with sedion 130 of the Charities Act; or the accounts did not accord with the 8ccounting records; or the accounts did not comply with the applicable requirements conceming the fonn and content of accounts set out in th8 Charitie8 (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair. view which is not a matter consKlered as part of an independent oxamination. I have no con¢ems and have come across no other matters in conneclion with the examination to vthich attention should be drawn in this report in order to enable 2 proper understanding of the a¢¢ounts to be reached. Signed: Date.. 2211W2025 Nam•: Laura Hobson Relevant pro8#10nal qualification(sl or body {rf any): 30. Lancaster Road, Maidenhead, SL6 SEP Addross: