2025-03-31-accounts - The Army Museums Ogilby CIO

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REGISTERED CHARITY NUMBER: 1195441

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2025

`for`

The Army Museums Ogilby CIO

Brewers Chartered Accountants (Statutory Auditors)
Unit 3
Birtley Courtyard
Bramley
Surrey
GU5 0LA

The Army Museums Ogilby CIO

`Contents of the Financial Statements for the Year Ended 31 March 2025`

		`Page`
`Chairman's Report`		`1`
`Report of the Trustees`	`2`	`to`	`4`
`Report of the Independent Auditors`	`5`	`to`	`7`
`Statement of Financial Activities`		`8`
`Balance Sheet`		`9`
`Notes to the Financial Statements`	`10`	`to`	`15`
`Detailed Statement of Financial Activities`	`16`	`to`	`17`

The Army Museums Ogilby CIO

`Chairman's Report`

`for the Year Ended 31 March 2025`

TheArmyMuseumsOgilbyTrust(AMOT)isTheArmyHeritageCharity,withanetworkof140Regimental and
Corpsmuseums,allofwhichraisepublicawarenessoftheArmy.AMOTisindependent,doesnot receive
publicfundingandengageswithamultitudeofstakeholdersasTheVoiceforArmyMuseums.AMOTexists to
supportandpromoteArmymuseumsandcollectionsthroughadvice,advocacyandtheprovisionof small
grants.Itsindependencecreatestrustfromitsnetwork,nearlytwo-thirdsofwhomreceivenofunding or
materialsupportfromtheArmy.ThatsameconfidenceistrueofstakeholderssuchasDCMSandArts Council
EnglandwhichrecogniseAMOTastheleadsubjectspecialist.AMOTalsoprovidestheArmywitha unique
singlepointofcontactthroughwhichitcanengagewithmuseumsthatnolongerhavea forceelementin the
current Army structure, ensuring that they can remain within the Army family, even if not directly funded by it.

DuringthisperiodAMOThasreinstateditsgrantsprogramme.Thegrantsarereviewedbythe Grants
CommitteeonbehalfoftheTrusteeswhohavethefinalauthorityinagreeingtheawards.Several museums
have benefitted from grants this year.

TheAMOT TrusteeBoardhasparticipatedinastrategicreviewday,whichisnowanannualevent,inorder to
review our internal management processes, our financial controls and our support to our network members.

AsaresultwehaverebalancedtheskillsontheTrusteeBoardsothatweensurewehaveexpertisein areas
includingfinance,investment,museumsandthearts,legal,military,marketing,fundraisinganddigital asset
management.InselectingourTrusteeswehavealsomanagedtodevelopageographical representation
across the nation.

Moreimportantlywenowhaveagreaterunderstandingofwhatourmemberswantfromus. This
understandinghasbeenenhancedbysome90orsovisitstomuseumsandwiththeuseofonline "Coffee
Break"talksbyexpertsfromthewiderheritagecommunity.Therehavebeen8ofthese15-minutetalks which
have attracted over 200 participants from our 140 museums.

WehaveengagedwiththeArmy bothdirectlyandthroughtheArmy HeritageBranchandtheArmy Heritage
CommitteewhichistheArmy'stoplevelcommitteedealingwithheritagepolicy.Here,aswith organisations
such as the Arts Council, we fulfil our role as The Voice For Army Museums.

Thelengthyprogrammetodigitise,freeofcharge,theFirstWorldWar archivesof90museumswas completed
andaswereturntherecords,thesemuseumswillhaveapermanentlypreservedarchivewhichwill be
viewableandsearchablebythemandthepublic.Thisprojectwasfundedbycentralgovernmentunder the
LIBOR scheme and is now being concluded by AMOT.

Page 1

The Army Museums Ogilby CIO

`Report of the Trustees`

`for the Year Ended 31 March 2025`

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31March 2025.
ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

TheobjectsoftheCIOaretopromotetheefficiencyoftheArmybyeducatingthepublicand inspiring
membersoftheArmy.ThisisachievedbyitssupportandpromotionofexistingRegimentaland Corps
museumsandbythepromotionoflearningeducationandresearchintomattersrelatingtoBritish Military
Forces.

`Public benefit`

TheTrusteeshavepaiddueregardtotheCharityCommission'sguidanceonpublicbenefitintheirdirection of
the Charity's activities.

TheCharityprovidespublicbenefit(benefittothepublicatlarge)byitspromotionandsupportof Regimental
andCorpmuseumsthateducatethepublicaboutthecharacter,activitiesandhistoryoftheBritishArmy. The
closelinkswiththepublicandtheencouragementofrelationshipbetweenthemuseumsand the
communitiesthattheyserveenhancethereputationoftheBritishArmytherebypromotingtheefficiency of
the Armed Forces of the Crown.

`ACHIEVEMENTS AND PERFORMANCE`

`Charitable activities`

TheCharity'sactivitieshavecontinuedtoconcentrateon"Thesupportandpromotionoftheinterestsof the
RegimentalandCorpsmuseumsoftheBritishArmy,andassistanceinthepreservation,presentation and
interpretation of its history and traditions for the stimulation and education of the public"

Inallareasofactivityanactive,supportiveandknowledgeableBoardofTrusteesthatexerciseseffective and
responsible governance oversees its operation.

Thecharityworkedacrossthe140+strongnetworktobuildresilienceandengagedwithcollections who
wishedtoclosetheirexistingmodelandfindlongtermsustainablesolutionswhichprovidecontinued access.
ThisprocesshelpedtheCIOtothinkaboutthesupportitshouldofferoverthenextfewyearsand the
possibilities around technology.

`FINANCIAL REVIEW`

`Financial position`

Asat31March2025theCIOhadfundsof£2,477,302(2024:£2,554,013)ofwhich£156,811(2024: £156,270)
were restricted and £1,410,530 (2024: £1,475,871) were endowment funds.

ThesmalldropinthecharitiesnetassetsisduethedeprecationoftheCharitiesinvestmentsduringtheyear of
£113,404whichwasinturnduetomarketvolatility.Marketshavenowrecoveredthislosshasbeenmore than
recovered.Ourincomeandexpenditurearenowbackinbalance.Infactattheoperatinglevelwehad a
smallsurplus£36,693fortheyearcomparedwiththesignificantlossesinpreviousyears.Thishasenabled the
trusteestoincreasethebudgetforgrantsandincreasethetimestaffareabletospendonlookingafter our
members.ItdoesalsoreflectthatsomebudgetedexpenditureforthereturningoftheTOMdatato the
respectivemuseumswasdelayedduetooperationalreasonsandwillnowbehappeninginthe current
financial year.

`Investment policy and objectives`

TheassetsofthetrustareinvestedintheBlackRockArmedForcesGrowthandIncomefundThisisa highly
liquidvehiclethatiswelldiversifiedbywayofgeographicalandassetallocationthatisinlinewiththe trust's
InvestmentPolicyStatement.InessencethisistoachieveabalanceofIncomeandGrowthwithout taking
unduerisk.Theperformanceofthefundandtheinvestmentpolicyarereviewedregularlybythe Finance
Committee and all the trustees at least annually.

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The Army Museums Ogilby CIO

`Report of the Trustees for the Year Ended 31 March 2025`

`FINANCIAL REVIEW`

`Reserves policy`

Themajorityofthetrustsassetsareinvestedandthisisitsprincipalsourceofincome.TheTrustDeed permits
expenditureofcapitalaswellasincome.TheTrust'sinvestmentportfoliowasvaluedat£2,379,686 (2024:
£2,353,090)asatthe31stMarch2025.wasvaluedat£2,379,686(2023:£2,353,090)asatthe31stMarch 2024.
Thereasonforthedropinourassetswasthefallinmarketsearlyintheyearasconfidenceabout global
growthandtheimpactofUStariffssawvolatilityreturn.Sinceouryearendmarketshaverecovered strongly
andourtheinvestmentportfolioisnowvaluedat£2,787,968.50(BothAMOTandCameronians, AMOT
£2,631,562Cams£156,406).ThebalanceisheldwiththeTrust'sbankersHoltsLimited.Thereservespolicyis to
have six months expenditure available in cash on an ongoing basis.

`STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document`

The Charity is governed by a Charitable Incorporated Organisation Foundation dated 9th August 2021.

`Recruitment and appointment of new trustees`

TrusteesareappointedforaperiodoffiveyearsbyaResolutionoftheTrusteesandbysigninga Declaration
ofAcceptanceandWillingnesstoAct.Trusteesmaybeappointedforfurthertermsoffiveyearsat the
invitationoftheChairman,butshallnotbeappointedorre-appointedfora termwhichexpiresaftertheir 75th
birthday unless the other Trustees otherwise determine.

`Financial Controls`

ThetrusthasrigorousfinancialcontrolsinplaceandallaccountingisnowdonethroughtheXero Software
package.Ournewaccountantsarenowfirmlyestablishedandthetrusteesarecompletelyconfidentthat the
trusts assets are fully protected.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Charity number`

`Principal address`

Room 121
Robertson House
Royal Military College Sandhurst
Camberley
Surrey
GU15 4NP

`Trustees`

Ms A Spark (appointed 07.05.2025)
Mr K Durward (appointed 04.02.2025)
Dr F Benetti (appointed 09.12.2024)
Ms A Gill (appointed 09.12.2024)
Lt Gen Sir P Trousdell KBE CB
Mr C Elwell
Mr P de Zulueta
Colonel A Gray
Mrs C Cary
Maj Gen C Harvey OBE QVRM
Brigadier A Mallinson
Mr E Sayer
Colonel S Davies MBE (Resigned 06.11.2024)
Maj Gen D McDowall CBE (Resigned 06.11.2024)
Ms T K Robson (Resigned 10.09.24)

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The Army Museums Ogilby CIO

`Report of the Trustees for the Year Ended 31 March 2025`

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Auditors`

Brewers Chartered Accountants (Statutory Auditors)
Unit 3
Birtley Courtyard
Bramley
Surrey
GU5 0LA

`STATEMENT OF TRUSTEES' RESPONSIBILITIES`

ThetrusteesareresponsibleforpreparingtheAnnualReportandthefinancialstatementsinaccordance with
applicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerallyAccepted Accounting
Practice).

Charitylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyear.Underthatlaw, the
trusteeshaveelectedtopreparethefinancialstatementsinaccordancewithUnitedKingdom Generally
Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Undercharitylawthetrusteesmustnotapprovethefinancialstatementsunlesstheyaresatisfiedthat they
givea trueandfairviewofthestateofaffairsofthecharityandoftheincomingresourcesandapplication of
resources,includingtheincomeandexpenditure,ofthecharityforthatperiod.Inpreparingthose financial
statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonable accuracy
atanytimethefinancialpositionofthecharityandtoenablethemtoensurethatthefinancial statements
complywiththeCharitiesAct2011andTheCharity(AccountsandReports)Regulations2008.Theyare also
responsibleforsafeguardingtheassetsofthecharityand hencefortakingreasonablestepsforthe prevention
and detection of fraud and other irregularities.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

...........................................................................
C Elwell - Trustee

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Report of the Independent Auditors to the Trustees of
The Army Museums Ogilby CIO

`Opinion`

WehaveauditedthefinancialstatementsofTheArmy MuseumsOgilbyCIO(the'charity')fortheyear ended
31March2025whichcomprisetheStatementofFinancialActivities,theBalanceSheetandnotesto the
financialstatements,includinga summaryofsignificantaccountingpolicies.Thefinancialreporting framework
thathasbeenappliedintheirpreparationisapplicablelawandUnitedKingdomAccounting Standards
(United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.

`Basis for opinion`

WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK)) and
applicablelaw.OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditors' responsibilities
fortheauditofthefinancialstatementssectionofourreport.Weareindependentofthecharity in
accordancewiththeethicalrequirementsthatarerelevanttoourauditofthefinancialstatementsinthe UK,
includingtheFRC'sEthicalStandard,andwehavefulfilledourotherethicalresponsibilitiesinaccordance with
theserequirements.Webelievethattheauditevidencewehaveobtainedissufficientandappropriate to
provide a basis for our opinion.

`Conclusions relating to going concern`

Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasis of
accounting in the preparation of the financial statements is appropriate.

Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoevents or
conditionsthat,individuallyorcollectively,maycastsignificantdoubtonthecharity'sabilitytocontinueas a
goingconcernforaperiodofatleasttwelvemonthsfromwhenthefinancialstatementsareauthorised for
issue.

Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribedin the
relevant sections of this report.

`Other information`

Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformation included
in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttothe extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformation and,
indoingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatements or
ourknowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentify such
materialinconsistenciesorapparentmaterialmisstatements,wearerequiredtodeterminewhetherthis gives
risetoamaterialmisstatementinthefinancialstatementsthemselves.If,basedontheworkwe have
performed,weconcludethatthereisamaterialmisstatementofthisotherinformation,wearerequired to
report that fact.  We have nothing to report in this regard.

`Matters on which we are required to report by exception`

WehavenothingtoreportinrespectofthefollowingmatterswheretheCharities(Accountsand Reports)
Regulations 2008 requires us to report to you if, in our opinion:

the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.

Page 5

Report of the Independent Auditors to the Trustees of
The Army Museums Ogilby CIO

`Responsibilities of trustees`

AsexplainedmorefullyintheStatementofTrustees'Responsibilities,thetrusteesareresponsiblefor the
preparationofthefinancialstatementswhichgiveatrueandfairview,andforsuchinternalcontrolas the
trusteesdetermineisnecessarytoenablethepreparationoffinancialstatementsthatarefreefrom material
misstatement, whether due to fraud or error.

Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sabilityto continue
asagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoing concern
basisofaccountingunlessthetrusteeseitherintendtoliquidatethecharityortoceaseoperations,orhave no
realistic alternative but to do so.

`Our responsibilities for the audit of the financial statements`

WehavebeenappointedasauditorsunderSection144oftheCharitiesAct2011andreportin accordance
with the Act and relevant regulations made or having effect thereunder.

Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawhole are
freefrommaterialmisstatement,whetherduetofraudorerror,andtoissueaReportofthe Independent
Auditorsthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnota guarantee
thatanauditconductedinaccordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhen it
exists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorin the
aggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenon the
basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Basedonourdiscussionswiththecharity'smanagementandtheTrustees,weidentifiedthatthefollowing laws
and regulations are significant to the entity:

Thoselawsandregulationsconsideredtohavea directeffectonthefinancialstatementsincludeUK financial
reporting standards and Charity Law.

Thoselawsandregulationsforwhichnon-compliancemaybefundamentaltotheoperatingaspectsof the
charityandthereforemayhaveamaterialeffectonthefinancialstatementsincludecompliancewith the
charitableobjectives,publicbenefit,safeguardingandhealthandsafetylegislation.Thesematters were
discussedamongsttheengagementteamattheplanningstageandtheteamremainedalert to
non-compliance throughout the audit.

Auditproceduresundertakeninresponsetothepotentialrisksrelatingtoirregularities(whichinclude fraud
andnon-compliancewithlawsandregulations)comprisedof:inquiresofmanagementandtheTrusteesas to
whethertheentitycomplieswithsuchlawsandregulations;enquirieswiththesameconcerninganyactual or
potentiallitigationorclaims;inspectionofrelevantlegalcorrespondence;reviewofTrusteemeeting minutes;
testingtheappropriatenessofjournalentries;andtheperformanceofanalyticalreviewto identify
unexpected movements in account balances which may be indicative of fraud.

Noinstancesofmaterialnon-compliancewereidentified.However,thelikelihoodofdetecting irregularities,
includingfraud,islimitedbytheinherentdifficultyindetectingirregularities,theeffectivenessofthe entity's
controlsandthenature,timingandextentoftheauditproceduresperformed.Irregularitiesthatresult from
fraudmightbeinherentlymoredifficulttodetectthanirregularitiesfromerror.As explainedabovethereis an
unavoidableriskthatmaterialmisstatementsmaynotbedetected,eventhoughtheaudithasbeen planned
and performed in accordance with ISAs (UK).

A furtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedonthe Financial
ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.Thisdescriptionformspartofour Report
of the Independent Auditors.

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Report of the Independent Auditors to the Trustees of
The Army Museums Ogilby CIO

`Use of our report`

Thisreportismadesolelytothecharity'strustees,asabody,inaccordancewithPart4ofthe Charities
(AccountsandReports)Regulations2008.Ourauditworkhasbeenundertakensothatwemightstateto the
charity'strusteesthosematterswearerequiredtostatetotheminanauditors'reportandforno other
purpose.Tothefullestextentpermittedbylaw,wedonotacceptorassumeresponsibilitytoanyone other
thanthecharityandthecharity'strusteesasabody,forourauditwork,forthisreport,orfortheopinions we
have formed.

Brewers Chartered Accountants (Statutory Auditors)
Unit 3
Birtley Courtyard
Bramley
Surrey
GU5 0LA
Date: .............................................

Page 7

`The Army Museums Ogilby CIO`

`Statement of Financial Activities for the Year Ended 31 March 2025`

`Notes` `INCOME AND ENDOWMENTS` `FROM` `Donations and legacies` `Charitable activities` `Charitable` `Other trading activities` `2` `Investment income` `3` `Total` `EXPENDITURE ON` `Charitable activities` `Charitable` `Other` `Total` `Net gains/(losses) on` `investments` `NET INCOME/(EXPENDITURE)` `RECONCILIATION OF FUNDS` `Total funds brought forward` `TOTAL FUNDS CARRIED` `FORWARD`	`Unrestricted` `fund` `£` `-` `34,807` `8,204` `92,562` `135,573` `90,044` `14,317` `104,361` `(43,123)` `(11,911)` `921,872` `909,961`	`Restricted` `funds` `£` `-` `-` `-` `5,481` `5,481` `-` `-` `-` `(4,940)` `541` `156,270` `156,811`	`Endowment` `fund` `£` `-` `-` `-` `-` `-` `-` `-` `-` `(65,341)` `(65,341)` `1,475,871` `1,410,530`	`2025` `Total` `funds` `£` `-` `34,807` `8,204` `98,043` `141,054` `90,044` `14,317` `104,361` `(113,404)` `(76,711)` `2,554,013` `2,477,302`	`2024` `Total` `funds` `£` `855` `44,348` `338` `78,160` `123,701` `368,344` `369,652` `737,996` `13,014` `(601,281)` `3,155,294` `2,554,013`

The notes form part of these financial statements

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The Army Museums Ogilby CIO

`Balance Sheet`

`31 March 2025`

`Notes` `FIXED ASSETS` `Heritage assets` `7` `Investments` `8` `CURRENT ASSETS` `Debtors` `9` `Cash at bank` `CREDITORS` `Amounts falling due within` `one year` `10` `NET CURRENT ASSETS` `TOTAL ASSETS LESS CURRENT` `LIABILITIES` `NET ASSETS` `FUNDS` `11` `Unrestricted funds` `Restricted funds` `Endowment funds` `TOTAL FUNDS`	`Unrestricted` `fund` `£` `29,000` `840,499` `869,499` `28,785` `24,340` `53,125` `(12,663)` `40,462` `909,961` `909,961`	`Restricted` `funds` `£` `-` `128,657` `128,657` `-` `28,154` `28,154` `-` `28,154` `156,811` `156,811`	`Endowment` `fund` `£` `-` `1,410,530` `1,410,530` `-` `-` `-` `-` `-` `1,410,530` `1,410,530`	`2025` `Total` `funds` `£` `29,000` `2,379,686` `2,408,686` `28,785` `52,494` `81,279` `(12,663)` `68,616` `2,477,302` `2,477,302` `909,961` `156,811` `1,410,530` `2,477,302`	`2024` `Total` `funds` `£` `29,000` `2,353,090` `2,382,090` `11,700` `170,415` `182,115` `(10,192)` `171,923` `2,554,013` `2,554,013` `921,872` `156,270` `1,475,871` `2,554,013`

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:

.............................................
C Elwell - Trustee

The notes form part of these financial statements

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The Army Museums Ogilby CIO

Notes to the Financial Statements
for the Year Ended 31 March 2025

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102) (effective
1January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicablein the
UKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshavebeen prepared
underthehistoricalcostconvention,withtheexceptionofinvestmentswhichareincludedat market
value, as modified by the revaluation of certain assets.

`Income`

All incomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementto the
funds, it is probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.

`Taxation`

The charity is exempt from tax on its charitable activities.

`Fund accounting`

Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.

`2. OTHER TRADING ACTIVITIES`

`3.`

`Report income` `Conference income` `INVESTMENT INCOME` `Investment income` `Interest received`	`2025` `2024` `£` `£` `-` `338` `8,204` `-` `8,204` `338` `2025` `2024` `£` `£` `95,819` `76,483` `2,224` `1,677` `98,043` `78,160`

continued...

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The Army Museums Ogilby CIO

`Notes to the Financial Statements - continued for the Year Ended 31 March 2025`

`4. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2025norfor the
year ended 31 March 2024.

`Trustees' expenses`

Trusteeswerepaid£2,096inrespectofreimbursableexpensesintheyearended31March2025 (2024:
£1,313).

`5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

`INCOME AND ENDOWMENTS FROM` `Donations and legacies` `Charitable activities` `Charitable` `Other trading activities` `Investment income` `Total` `EXPENDITURE ON` `Charitable activities` `Charitable` `Other` `Total` `Net gains/(losses) on investments` `NET INCOME/(EXPENDITURE)` `Transfers between funds` `Net movement in funds` `RECONCILIATION OF FUNDS` `Total funds brought forward` `TOTAL FUNDS CARRIED FORWARD`	`Unrestricted` `fund` `£` `855` `44,348` `338` `76,301` `121,842` `247,570` `369,652` `617,222` `(4,038)` `(499,418)` `(32,701)` `(532,119)` `1,453,991` `921,872`	`Restricted` `funds` `£` `-` `-` `-` `1,859` `1,859` `120,774` `-` `120,774` `8,234` `(110,681)` `32,701` `(77,980)` `234,250` `156,270`	`Endowment` `fund` `£` `-` `-` `-` `-` `-` `-` `-` `-` `8,818` `8,818` `-` `8,818` `1,467,053` `1,475,871`	`Total` `funds` `£` `855` `44,348` `338` `78,160` `123,701` `368,344` `369,652` `737,996` `13,014` `(601,281)` `-` `(601,281)` `3,155,294` `2,554,013`

continued...

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The Army Museums Ogilby CIO

`Notes to the Financial Statements - continued for the Year Ended 31 March 2025`

`6. TANGIBLE FIXED ASSETS`

`TANGIBLE FIXED ASSETS`
	`Fixtures`
	`and`
	`fittings`
	`£`
`COST`
`At 1 April 2024 and 31 March 2025`	`4,497`
`DEPRECIATION`
`At 1 April 2024 and 31 March 2025`	`4,497`
`NET BOOK VALUE`
`At 31 March 2025`	`-`
`At 31 March 2024`	`-`

The values of the following assets belonging to the CIO are not reflected in these financial statements:
- Library Books

- The Founder's Medals, Uniform and Desk (on loan to The London Scottish Regimental Trust)
- Nine Pictures

`7. HERITAGE ASSETS`

`HERITAGE ASSETS`
`MARKET VALUE` `At 1 April 2024 and 31 March 2025` `NET BOOK VALUE` `At 31 March 2025` `At 31 March 2024`	`Total` `£` `29,000`
	`29,000`
	`29,000`

`8. FIXED ASSET INVESTMENTS`

`MARKET VALUE` `At 1 April 2024` `Additions` `Revaluations` `At 31 March 2025` `NET BOOK VALUE` `At 31 March 2025` `At 31 March 2024` `There were no investment assets outside the UK.` `Cost or valuation at 31 March 2025 is represented by:` `Valuation in 2025`	`Listed` `investments` `£` `2,353,090` `140,000` `(113,404)` `2,379,686` `2,379,686` `2,353,090` `Listed` `investments` `£` `2,379,686`

continued...

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The Army Museums Ogilby CIO

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

`8. FIXED ASSET INVESTMENTS - continued`

ListedinvestmentsaremanagedbyBlackrockFundManagersLimitedandheldintheBLK Armed
Forces Charities Growth & Income Fund without charge.

Thehistoriccostoftheinvestmentsheldat31March2025was£2,469,577(2024:£2,329,577)of which
£878,162washeldinthegeneralfund,£124,362intheCameroniansFundand£1,467,053in the
endowment fund.

`9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`Other debtors` `10.` `CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Other creditors` `11.` `MOVEMENT IN FUNDS`	`2025` `£` `28,785` `2025` `£` `12,663`	`2024` `£` `11,700`
		`2024` `£` `10,192`

`Unrestricted funds` `General fund` `Restricted funds` `Cameronians` `Endowment funds` `Endowment Fund` `TOTAL FUNDS`	`At 1.4.24` `£` `921,872` `156,270` `1,475,871` `2,554,013`	`Net` `movement` `in funds` `£` `(11,911)` `541` `(65,341)` `(76,711)`	`At` `31.3.25` `£` `909,961` `156,811` `1,410,530`
			`2,477,302`

Net movement in funds, included in the above are as follows:

`Unrestricted funds` `General fund` `Restricted funds` `Cameronians` `Endowment funds` `Endowment Fund` `TOTAL FUNDS`	`Incoming` `Resources` `Gains and` `Movement` `resources` `expended` `losses` `in funds` `£` `£` `£` `£` `135,573` `(104,361)` `(43,123)` `(11,911)` `5,481` `-` `(4,940)` `541` `-` `-` `(65,341)` `(65,341)` `141,054` `(104,361)` `(113,404)` `(76,711)`

continued...

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`Notes to the Financial Statements - continued for the Year Ended 31 March 2025`

`11. MOVEMENT IN FUNDS - continued`

`Comparatives for movement in funds`

`At 1.4.23` `£` `Unrestricted funds` `General fund` `1,453,991` `Restricted funds` `Libor Fund` `88,072` `Grant in Aid` `2` `Cameronians` `146,176` `234,250` `Endowment funds` `Endowment Fund` `1,467,053` `TOTAL FUNDS` `3,155,294` `Comparative net movement in funds, included in the above` `Incoming` `resources` `£` `Unrestricted funds` `General fund` `121,842` `Restricted funds` `Libor Fund` `(1)` `Cameronians` `1,860` `1,859` `Endowment funds` `Endowment Fund` `-` `TOTAL FUNDS` `123,701`	`Net` `movement` `in funds` `£` `(499,418)` `(120,775)` `-` `10,094` `(110,681)` `8,818` `(601,281)` `are as follows:` `Resources` `expended` `£` `(617,222)` `(120,774)` `-` `(120,774)` `-` `(737,996)`	`Transfers` `between` `funds` `£` `(32,701)` `32,703` `(2)` `-` `32,701` `-` `-` `Gains and` `losses` `£` `(4,038)` `-` `8,234` `8,234` `8,818` `13,014`	`At` `31.3.24` `£` `921,872` `-` `-` `156,270` `156,270` `1,475,871` `2,554,013` `Movement` `in funds` `£` `(499,418)` `(120,775)` `10,094` `(110,681)` `8,818` `(601,281)`

`Restricted funds`

`LIBOR Fund`

HMTreasuryprovideda grantfromtheLIBORfundamountingto£5,000,000in2016.ThisisfortheTrust to
completethedigitilisationoftheWW1recordswiththeRegimentalandCorpMuseumsofthe British
Army.

`Cameronians Fund`

ApaymentfromtheclosureoftheCameronians(ScottishRifles)Trustamountingto£136,000 was
received in 2016. This is restricted to expenditure on Cameronians heritage.

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The Army Museums Ogilby CIO

`Notes to the Financial Statements - continued`

`for the Year Ended 31 March 2025`

`12. RELATED PARTY DISCLOSURES`

At31March2025TOMCommerceLimited,awhollyownedsubsidiaryofthecharity,owed £14,317
whichhasbeenwrittenoffat theyearend.ArrangementsarebeingmadetowindupTOM Commerce
Limited in the following year to 31 March 2026.

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The Army Museums Ogilby CIO

Detailed Statement of Financial Activities
for the Year Ended 31 March 2025

`INCOME AND ENDOWMENTS` `Donations and legacies` `Donations` `Other trading activities` `Report income` `Conference income` `Investment income` `Investment income` `Interest received` `Charitable activities` `Fees re GIA administration` `Consultancy income` `Total incoming resources` `EXPENDITURE` `Charitable activities` `Wages` `Insurance` `Conference` `Travel and subsistence` `Subscriptions` `Website and computer costs` `Grants to museums` `Grant refunds` `Admin and office` `Office support` `LIBOR` `Other` `Impairment of inter-co debt` `Impairment of employee loan` `Support costs` `Other` `Bank charges`	`2025` `£` `-` `-` `8,204` `8,204` `95,819` `2,224` `98,043` `34,807` `-` `34,807` `141,054` `54,559` `1,154` `9,538` `4,125` `1,975` `-` `11,360` `(21,755)` `4,751` `5,894` `-` `71,601` `14,317` `-` `14,317` `559`	`2024` `£` `855` `338` `-`
		`338` `76,483` `1,677`
		`78,160` `33,948` `10,400`
		`44,348`
		`123,701` `55,729` `1,080` `3,939` `4,931` `-` `7,756` `2,423` `-` `1,809` `91,015` `117,933`
		`286,615` `-` `369,652`
		`369,652` `-`

This page does not form part of the statutory financial statements

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The Army Museums Ogilby CIO

`Detailed Statement of Financial Activities`

`for the Year Ended 31 March 2025`

`Other` `Governance costs` `Auditors' remuneration` `Legal & Professional fees` `Accountancy fees` `Total resources expended` `Net income/(expenditure) before gains and` `losses` `Realised recognised gains and losses` `Unrealised gains/losses fa inv` `Net expenditure`	`2025` `£` `7,560` `2,779` `7,545` `17,884` `104,361` `36,693` `(113,404)` `(76,711)`	`2024` `£` `6,000` `57,929` `17,800` `81,729` `737,996` `(614,295)` `13,014` `(601,281)`

This page does not form part of the statutory financial statements

Page 17