```
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.
```
```
Page 2
```
```
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`**
```
1195441
```
## **`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)
```
```
Page 3
```
```
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
```
```
Page 4
```
```
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.
```
```
Page 6
```
```
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
```
```
Page 8
```
```
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
```
```
Page 9
```
```
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...
```
```
Page 10
```
```
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...
```
```
Page 11
```
```
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...
```
```
Page 12
```
```
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...
```
```
Page 13
```
```
The Army Museums Ogilby CIO
```
## **`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.
```
```
continued...
```
```
Page 14
```
```
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.
```
```
Page 15
```
```
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
```
```
Page 16
```
```
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
```