Combined Mili Services Coll on io Combined MRlitary Services Collection Report and Financial Statements Year Ended 31" March 2024 Registered Charity No. 1196112
ombined Mili Io Contents Legal and administrative inforn)ation Report of the Trustees Statement of financial activities Notes fom)ing part of the financi statements
Combined Mili Ilection CIO Legal and athninistrative inforniation Trustees". Dr RJ Wooldrid8e {Chainn8n) Dr DA Bleay Mr Richard Lamian l¥incipal Otyice.. Ravenscroft St Josephs Abbey Storrington Wesi Sussex RH20 4GJ Bankers.. Barclays Page I
ined Mili Services C 11 io Report of the trustees for the year ended 31. March 2024 M2n28ement The trusiees that served during the year and since are as follow5.' Dr RJ Wix)Idridse {Chairnian) Dr DA Bleay Mr R Lamlan Objectives ind Activilies The charities objertive 1$.. 'To advance the education of the public by increasing access to and appreciation of The CMSM Collections of UK miliiary artefacts and documents across the UK, and for their conservation. preservation and restoration., The Charity will c(Foperate with other charities, voluntary bTrJies and statulory authorities operating in furtherance of the objective and io exchange infoTmation and advice with them. Achievements And performance The Covid Pandemic rneant the closure of the Combined Military Services Museum. Durin this period. the Museums Govemance was reviewed and il was decided io add an additional CIO Charity thai hold& cares for and adMinier5 the collection itself. This new charity is now sel up and operational. Working alon¥side the 0ri8inaJ charity no 1058595. That continues io run the museum itself operationally. Public Benefii The trustees have complied with Ihe duty in section 4 of the Charities Ath 2006 to have due regard to public benefit guidance as published by the Commission. The charities objective is 'To advance the education of the public by increasing access to and appreciation of The CMSM CollecEions of bK military anefacts. In order to comply with this objective. Ihe trustees will operaie the CMSC Charity and ensure it is available to the public for educational purposes. Volunteers The charity will encourage new volunteers to join and assisting in the Charities objectives. Financial review and reserves The financial results for the year are shown on pa8e 4. Durin8 this first financial year there have not been any purchases of tan8ible fixed assets or property. Plans for future periods During the coming financial year (he trusiee's plan is review ils collections, and plan for the ture in order to fulfil all of its duties in both carin8 for its collections and educaiing the ¥eneral public. Page 2
Combinaj Mili ervices Collection Cl Report of the trustees for the year ended 31° March 2024 (continued) Statement of Trustees responsibililies The Tn]siees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. (Uniied Kingdom Generally Accepted ACc(nting Practice} The law applicable to charities in England and WaleslNorthern Ireland requires Trustees to prepare financial statements for each financial year which give a true and fair view of ihe state of affairs of the charity and of the incoming resource5 and application of resources of the charity for that perithj. In preparin8 these financial statements, the Trusiees are required to.. l. Select suithble accounting policies and ihen apply them consistently. 2. Observ¢ the meth(Mls and principles in the charities SORP. 3. Make judgements and estimates that are reasonable and prudent. 4. State whether applicable accountin8 Standards have been followed. subject to any material departures disclosed and explained in th¢ financial slalementS 5. Prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charity will continue in operation. The trusiees are responsible for keeping accounting records thai disclose with reasonable accuracy al any lime the financial position of Ihe charity and enable them to ensur¢ that the rinancial statements comply with the Charities Act 1993, the Charity {Acwunts Reports) Regulations 2008 and trust deed They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and d¢tcction of fraud other I¢SuIanties On behalf of the Board of Trustees Dr R J Wooldridge Chairnian 14th April 2024 Page 3
ombined Mili Services Collection CIO StatemeDt of financial activities (W•AQ 102 £000 Iod 0.00 Vjth £OOD EO.OD Eoo loo¢ *& IOOD EOOD 4b (M• Pa8e 4
ombined Mili Statement of fmanciat activities (Continued) The financial slatements on page 4 were approved by the trustees on 14th April 2024 Dr R J Wooldridge On behalf of the board of Trustees Page 5
ined Mili Services Collection Notes forming part of the financial statrments for the year ended 31 st March 2023 l. Accounting policies (a) BASIS of preparation The financial staiements have been pr¢paTed under the hiswical Cost convention, with the exception of investments which are included at the market value. The financial slatements have been prepAre3d in accordance with the Statement of Recommended Practice (SORP) 'Accountin8 and Reportin8 by Charities, published in 2005 and applicable accountin8 siandards (b) Chirity Si*tus The chariiy is constituted by a Governin8 Document (CIO) Ic) Fundj All the funds are unrestricted funds which are available for use at the discretion of the trusiees in funherance of the general ci)jectives of the charity and whi¢h have not been designated for other purposes. (d) Incoming rtjourcej All incomin¥ resources are included in the statement of financial activities when the charity is legally entitled io ihe income and ihe amount can be quantified with reasonable ac¢uTa¢y. {e) Grxnts And donalions Grants and don4tions are only includ¢d in lh¢ sthiement of financial activities when the charity has unconditional ¢ntitl¢ment to the reswrces. (D Resourtes expended All expendilure TS accounted for on an accruals basis and has been Classified under headings thai aregate all costs relaied to the category Where costs cannot be directly attributed to particular headings they have been allocaied to activities on a basis consisteni with the use of the reS(rceS. (8) Tangible fixed asseis and deprffialion There are no &n8ible assets in this years aCc(nI. however. il is the chaTities policy to depreciate ils assets ai rates ca]culaied io write off the costs over their expecied useful onomir Iivc5 35 fdiows. Freehold land and buildings (see note 2.1) Not depreciated Artefacts Isee note 3) 40t depreciated Plant l(P/o reducin8 balance basis Fixtures. fittings and equipment 10•/0. 2/fj and 250/0 reducin8 bal&nc¢ basis (h) Trusteej remuneration The trustees neither received nor waived any ernoluments during the year under Page 6
in ces Collecti (i) Stock The charity does not currently hold any stock However, for future year5 it is planned to hold a stock of merchandise and refreshmenis for sale to the genLYal public It is the chariues policy that these will be valued at the lower CO and the nel realisable value. ti) Foreign currencies Transactions in forei8n currencies are recorded al the raie ruling al the date of the transaclion. Monetary assels and liabilities are translaied ai ihe rale of exchan¥e ruling at the balance sheet date All differences are iaken to the statement of financial activities. (k) Volunlary ijsistsnce The N'alue of any volunwy help received is not included in the accounls. (l) Tax clwirns on donalions and gifts Incoming resources from tax reclaims will be included in the statement of financial activities at the same lime as the 8ifi to which they relat¢. (m) Investment income This is included in the acCniS when received. 2. TAngible As$el$ There are no tan8ible assets owned by the charity for ihis financial year. 2.1 Deprecialion of freehold property The tNstee$ are of the opinion that the value of property over the lon8 terni will in genernl increase Therefore. the realisable value of any property owned will always be in exce55 of cosL and as such no depreciation need be provided. 3. Historic Assets Some exhibit5 on display at the Combined Military. seIce5 Collection are on pemianent loan or on lease to the charity. Therefore, these do not fom pan of the charities assets. All artefacts owned by the charity will be valued at cost The truslees are of the opinion that the value of historic artefacts over ihe long lerni will in general increase. Therefore. the realisable value of an), artefacis owned will always be in excess of COSL and tt3 Juch no depreciation need be provided. 4. Unrestricled funds The Irnstees are of the opinion that all fees rerxived to date are unr¢stri¢l in nature. 5. Tour income l Merchandise ttc These are shown net of related expenses. S. TaxAlion The Combined Military Services mUsLm is a registered charity. As such its source of income and 8ains are exempt from i&xation io ihe exieni thai they are applied exclusively io its charitable objectives No tax charge has arisen in the charity during the year. Pa8e 7