Charity number.. 12(M)585 THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees. report Independent examiner's report Statement of financial activities Balance sheet 10 Notes to the financial statements
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM REFERENCEAND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Sir John Shakespeare Allison KCB CBE, Chair Mr N Farmer Mr D Lowry Mr C Griffilhs Mr A Spinks IResgn8d 2 August 20241 Mrs J Crane, Treasurer Dr H Hearn Mrs A Johnson lapFK)inted 8 September 20241 Mr A J Goody (appointed 9 May 20241 Charity registered number 12(K)585 Principal office RAF Air Defence Radar Museum Birds Lane Neatishead Norwch NR12 8YB Accountants MA Partners LLP Chartered Accountants 7 The Close Norwch Norfolk NR14DJ Page 1
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together wlh the financial statements and independent examinerfs report of the Charity for the peri(Kl 1 January 2024 10 31 December 2024. The Charity also trades under the name Air Defence Radar Museum. Objectives and activities a. Policies and objectives In setting objectives and planning for 2clivilies, the Trustees have given due consideration lo general guidance published by the Charity Commission relating to public benefit. b. Strategies for achieving objectives The principal objective of The Royal Air Force Air Defen Radar Museum is to advance the education of the public by establishing and maintaining a museum for the exhibition of the history of air defenTr battle management and associated memorabilia. . Activities undertaken to achieve objectives The focus of our activities remains.. 1) To pserve artefacts relating to radar and air defence and to present these to the public to infom) and educate To maintain an accessible archive of all air defen and associated radar history matters To open the museum on a regularfy published basis to enable any person to access the services offered 2) 3) Muum Site Dis la 8 and Exhibitions The museum operates from freehold premises that N¥Ere once part of the former Royal Air Force Neatishead site. The land and buildings were purchased by the former Trust and separated from the RAF site in 2012. The former Trust was discontinued dLJring 2023 and all assets and trading were transferred to Ihe charitable in¢ortK)rated organisation. The museum continues to be open lo the general public on a seasonal basis from Easter until early November. During the season open days are Tuesday lo Saturday and on Bank Holiday Mondays. Opening hours are 10(KJ 10 1700. Presentations are delivered by volunteers in our World War 2 Room, and our Cold War Operations Room. Many of our volunteers served in the RAF, including al the former RAF Nealishead, or have expertise in the subj1 matter. Entrance fees to the museum are the principal component of the museum's charitable income. The museum is also open for pre-arranged groups, who receive tailored guided tours and catering if required. Gift Sho The shop is operated by volunteers working in the reptiOn area and provides useful additional Charitable incom8. 11 is stocked wlh a wide range of souvenirs that vislors can purchase, including books on air defence, post cards, key rings and m(xJel aircraft. In addition, a range of educational packs are available provide information about aspects of living and working during the Second World War and the Cold War. We continue lo operate our second-hand book department. This f(uses on air defence and military history and we have been fortunate lo receive many donations of relevant books which are proving FX)pular with our visitors and improving our sales. Page 2
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Objectives and activities Icontinuedl Crumbs Cafe The café is run by volunteers and offers a wide range of snacks and beverages. It provides an important contribution lo the museum's charitable income and allows visitors to enjoy a full day out. During the period we were delighted to achieve renewal of out 5 star food hygiene rating from the local council. d. Main activities undertaken to further the Charity's purposes for the public benefit Major projects are normally undertaken during the winter months when the museum 18 closed to the public. Several significant projects were completed during the period, and we are delighted to report the following achievements.. Refurbishment, redecoration and recarpeling of our largest single room, The History Room, was completed during the period and costs in this financial period included the £2.6k balan for the new carpet. Investment in our outside exhibits continued with the laying of concrete bases at a cost of £11.6k. In order lo protect our Bloodhound Missile from the elements, the decison had been taken the previous year lo commission a new open-sided cover for it. During the period the balance of £16k was paid to complete this project following payment of £6.8k the prior year. Improvements were made to the displays in our Cold War Operations room at a nominal wst of £578 representing the component cost only as the work was undertaken over several weeks by our volunteers. For several years the Board had considered the purchase of solar panels in order to reduce our carbon footprint and to decrea the very substantial cost of electricity. Previous quotes had proved unaffordable with loo long a pay-back peri. However, after careful monitoring of the costs and benefits and with a substantial reduction in capital outlay for the panels now possble, the decision was made to go ahead and 96 panels with an output of 43.2kW were installed followng our SLJccessful planning application during the summer of 2024. This investment has already reduced our running costs and will enable further investment in the museum's operations in the future. The anlieipaled payback period is 718 years. Following these investments, we remain in the fortunate position of retaining substantial reserves and the Board continues to plan carefully future improvements to the museum, subject to our reserves policy. Page 3
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and perfomiance Key perfomiance indicatots The Board is enormoudy grateful for the continuing hard work and dedication of all of our volunteers without vknom the museum could not operate, and also for the continued support of the Friends of the Museum, whose subscription income has largely Continued despite the recent pandemic and adve economic fartors. We were delighted to receive the TripAdvisor travellers, choice award for the second year running, placing the museum in the lop 10D/o of Trip Advisor attractions woddwde. Overall a net reduction in reserves of £14. 1 k was recorded for the period. However, this figure is struck after the substantial capital Costs t out above lotalling £59k. Vislor numbers were slightly reduced during the year in line with many other attractions. Several factors affect these numbers including the weather and the general economy and under the circumstances the Board was satisfied with a decline of around 5°/0 in entranTr fee income. It was also very pleasing lo S the continuing excellent contribution of Crumbs café despite difficulties in finding sufficient numbers of volunteers. The café contributed £17.4k net surplus. The museum shop also continues to contribute to our bottom line, although it is aCknoedged that there remains r(K)m for improvement. The net contribution from the shop during the year was £5.5k. Based upon the museum's cash reserves, and trading forecasts, the Trustees have a reasonable expectation that the Charity has adequate resources lo Continue operating for the foreseeable future. b. Going concem As noted in the Key Financial PerformanTr Indicators the Trustees continue to adopt the going concern basis in preparing the financial statements. Further details regarding Ihe adoption of the going concem basis can be found in the Accounting Policies. Overall, the Trustees have reason to look towards the long term future of the Museum with confiden. Structure. goveman¢e and management Constitution The Charity is governed by ils CIO Constitution and was registered by the Charity Commission on 5 October 2022. Registered charity number is 1200585. This entity took over from the previous unincorporat8d Trust that became a registered charity 28 October 1996, number 1058887. b. Methods of appointment or eledion of Trustees The management of the Charity is the responsibility of the Trustees who are elected and w-opled under the terms of the Charity's Consilitution. Page 4
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, govemance and management Icontinuedl c. Organisational structure and decision-making policies Trustees normally meet at least once a quarter lo provide strategic direction of the museum, including financial management and to decide on policy, prOdureS and major issues. The Museum Manager oversees the daily operation of the museum on behalf of the Trustees. The Museum Manager is the only paid member of staff. Al Trustees give their lime voluntarily and receive no remuneration or other benefits. Plans for future periods Reserves Polic The Covid 19 pandemic caused the Board lo reflect upon its rerVeS policy. We were extremely fortunate lo receive a substantial legacy just before the outbreak of the pandemic, and thus the survival of the museum from a purely cash and trading point of view was never in doubt despite our inability lo open the museum and generate income. However, it was reCognid that we need to retain a subslanlial reserve lo cover our costs should sv¢h a situation arise again in the future. We will no longer have the benefit of business interrLJPtion insurance as such clauses wlhin insurance policies have now been re-written to avoid pay-out under such circUmstans. After much consideration the Board decided that we should retain a minimum of £100,000 in cash reserves to allow for approximately 18 months of operating costs which will protect us should similar circumstances prevail in the future. The figure was struck on a conservative basis and also bears in mind the need for a contingency should there be unforeseen repair costs in respect of our aging buildings. Future Develo ments The overarching objective MaInS to continue to improve the museum's offering in terms of variety and quality of exhibits, and to attract increasing numbers of visitors from more diverse backgrourKls. By these means the Trustees seek to grow the museum organically Mqthin existing resources. thereby rendering its long term future increasingly Qure. The previously agreed slralegi¢ objectives remain. We continue to strive to improve our interprelalion and presentslion of the museum's artefacts and lo increase and improve the museum's educational offering lo local schools and community groups. Further improvements planned inciude continued resloralion of our Type 14 Radar in our new wod(shop building. It remains an ambition to acquire more land should an opportunity become available wlh the objeclive of increasing and improving our car parng capacity and allowing easier access for coaches. Further enhancements to disabled access lo the museum are reviewed on a regular basis. However, our historic buildings are themselves part of the Museum's offering and, from a practical standpoint, were not designed wlh the less able-bodied in mind. Thus modification presents very significant challenges in some areas. In order lo assist our less able-bodied visitors we have sel up a live streaming service which provides all vislors wth ae$S lo our Cold War Room PrenliOnS in a fully accessible location. Page 5
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of Trustees, responsibilities The Trustee8 are responslble for preparing the Trustees, report and the financial slalemerkts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable lo charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of ils incoming resources and application of resources, including ils income and expenditure, for that period. In preparing these financial statements, the Trustees are requir1 to.. select suitable accounting poliThes and then apply them consistently., observe the methods and principles of the Charities SORP {FRS 1021., make judgments and accounting eslimales that ar8 reasonable and prudent,. stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements,. prepare the financial statements on the going Cornrn basis unless it is inappropriate to presume that the Charity will continue in business. The Truslees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charity's transactions and disd0 with reasonable accuracy al any time the financial tK)silion of the Charity and enable them to ensure that the financial slalements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constilulion. They are also responsible for safeguarding the assets of the Charity and hen for taking reasonable steps for the prevention and delectii)n of fraud and other irregulari118S. Approved by order of the members of the board of Trustees and sign on their behalf by: Sir John Shakespeare Allison KCB CBE (Chair of Trusleesl Dale.. 23 August 2025 Page 6
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM INDEPENDENT EXAMINER'S REPORT FOR THE YEJIR ENDED 31 DECEMBER 2024 Independent examiner's report to the Trustees of The Royal Air Force Air Defence Radar Museum I'the Charity.) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2024. Responsibilities and basis of report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe 2011 Act'i. I report in respect of my examination of tha Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's statement Your attention is drawn to the fact that the Charity has prgpared the accounts in accordance wlh Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preferen to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations but has been withdrawn. l understand Ihat this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting practi effective for reporting peric(Is beginning on or after l January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection wth t examination giving me cause lo believe that in any material respect.. accounting records were nol kept in respect of the Charily as required by section 130 of the 2011 Act., or the accounts do not accord wlh those records,. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) RulationS 2008 other than any requirement that the accounts give a 'true and faiff view which is not a matter consdered as part of an independent examination. I have no wncems and have come across no other matters in wnnection wlh the examination to which attention should be drawn in this rewrt in order lo enable a proper understanding of the accounts to be reached. Page 7
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEJIR ENDED 31 DECEMBER 2024 This rewrt is made solely lo the Charity's Trustees, as a body, in accordance wth Part 4 of tre Charities (Accounts and Reports} Regulations 2008. My work has been undertaken so that I might stale to the Charity's Trustees those mallers l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my wk or for this report. Signed.. Dated.. 5 September 2025 Aice Lynch Bsc FCA DChA MA Partners LLP Charter1 Accountants 7 The Close Norwich Norfolk NR1 4DJ Page 8
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEJIR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from.. Donations and legacies Other trading activities Investrments 15,304 128.654 7,863 15,304 128,654 7,863 15,924 139,747 4,438 Total income 151,821 151,821 160, 109 Expenditure on: Charitable activities 16&966 16&966 763,973 Total expenditure 165.966 165.966 163,973 Nel movement in funds 114,145) 114,145) (3,864) Reconciliation of funds: Total funds brought forward Net movement in funds 418.766 114,145) 418.766 114,145) 422,630 (3,864) Total funds carried fonvard 404621 404621 418,766 The Statement of financial activities includes all gains and losses recnISed in the year. The notes on pages 11 to 21 form part of these financial slalements. Page 9
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Current assets Cash at bank and in hand 404.621 418, 766 404.621 418,766 Current liabilities Net current assets 404,621 418,766 Total net assets 404,621 418,766 Charlty funds Unrestricted funds 10 404,621 4f8,766 Total funds 404,621 418,766 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Sir John Shakespeare Allison KCB CBE (Chair of Trusleesl Date.. 23 August 2025 The notes on pages 11 10 21 form part of the finanThal slalemenls. Page 10
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEJIR ENDED 31 DECEMBER 2024 Accounting policies 1.1 Basis of preparation of financial statements The financial slalements have been prepared in accordance with the Charities SORP IFRS 102) Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo ¢hari118S preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'lrue and fairf view and have departed from the Charities (Accounts and Reports) Regulations 21K)8 only to the exlenl required to provide a 'true and fairf view. This departure has involved following the Charities SORP {FRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommend8d Practice effective from 1 April 2005 which has since been wlhdrawn. The Royal Air Force Air D8fence Radar Museum meets the definition of a public b9ngfil entity under FRS 102. Assets and liabili118s are initially recognised at historical cost or transaction value unl8SS othewse slated in the relevant accounting policy. 1.2 Going concern The Trusl8es assess whether th8 US8 of going concern is appropriate, i.e. whether ther8 ar8 any material uncertainies related to gvenls or conditions that may cast SignifinI doubl on th9 ability of the charity to continue as a going Gonm. The Trustees make this assessment in respect of a period of al least one year from the dale of authorisalion for issue of the financial statements and have concluded that the charity has adequate resources lo continue in operational existence for the fore*eable future. 1.3 Income All incom8 resources are includ8d in th8 Slalement of Financial Activities when received. Income lax recoverable in relation to investment income is recognis8d at the tim8 the investment income is receivable. 1.4 Expenditure Expenditure is recognIs on a payments basis. Support costs are thos8 Costs incurred direcuy in support of eXndItUre on the obj8ds of the Charity. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's obltIves, as well as any associal8d support costs. 1.5 Interest receivable Inlgr8St on funds held on deposit is includ8d when receivable and th8 amount can be mgasured reliably by the Charity,. this is normally upon nolificalion of the in18rgsl paid or payable by th8 institution with whom the funds are deposited. Page11
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEJIR ENDED 31 DECEMBER 2024 Accounting policies {continued} 1.6 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 1.7 Financial instmments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their selllemenl value with the exception of bank loans which are subsequently measured at amorlised cost using the effective interest method. 1.8 Pensions The Charity operates a defined contribution pension scheme and the pension charge represents the amounts paid by the Charity to the fund in respect of the year. 1.9 Fund accountlng General funds are unreslricled funds which are available for use al the discretion of the Trustees in furtheran¢8 of the general objectiV8s of the Charity and which hav8 not b88n d8signal8d for olh8r purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for partIlar purposes. The costs of raising and administering such funds are charged against the speafic fund. The aim and use of each restricted fund is set out in the notes to the financial stslements. Investment income, gains and losses are allocated lo the appropriate fund. Income from donations and legacies Restrlcted Unrestrlcted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations, grants and l&aacies 15,304 15.304 15,924 Total 2024 15,304 15.304 15,924 Total 2023 395 15,529 15,924 Page 12
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEJIR ENDED 31 DECEMBER 2024 Income from other tradlng actlvltles Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Entrance fees Friends support Shop sales Tea Room sales Other services 82,729 5,493 11,283 28,825 324 82.729 5,493 11.283 28.825 324 87,090 6, 709 11,567 33,854 617 Total 2024 128,654 128,654 139,747 Total 2023 139,747 139, 747 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Investment income 7,863 7.863 4,438 Total 2024 7,863 7.863 4,438 Total 2023 4.438 4,438 Page 13
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEJIR ENDED 31 DECEMBER 2024 Analysls of expendItu on charltable actlvllles Summary by fund type Restrlcted Unrestrlcted funds funds 2024 2024 Total 2024 Total 2023 Museum Operations 165,966 165,966 163,973 Total 2024 165,966 165.966 163,973 Total 2023 2,455 161,518 163,973 alysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 Tolal funds 2024 Total funds 2023 Museum Operations 49,755 116,211 165.966 163,973 Total 2024 49.755 116.211 165,966 163,973 Total 2023 59,518 104,455 163,973 Page 14
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEJIR ENDED 31 DECEMBER 2024 Analysls of expendItu by actlvltles Icontlnued) Analysls of dlrect costs Total funds 2024 Total funds 2023 Staff costs Shop Stock Sp8cial Functions Tea Room 29.711 5.691 3.017 11.336 33,885 1,436 4,894 13,3Q3 Total 2024 49.755 59,518 Page 15
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEJIR ENDED 31 DECEMBER 2024 Analysls of expendItu by actlvltles Icontlnued) Analysls of support costs Total funds 2024 Total funds 2023 AdvertisirKJ Bank Charges InSurare Maintenance Printing, postage & stationery Professional Fees 4.606 1.280 6.358 18.615 1,656 3.300 4,459 1,809 6, 703 25,124 1,373 8,132 F- li Telecoms Travel Utiltties Assel Purcha - Building Improvements Asset Purchase - Equipment Computer costs Staff training Memberships Office expenses 1.678 1.301 15.031 43.222 16.573 133 1,8(K) 2,651 17,224 9,310 23,437 481 178 44 528 720 1.752 1,128 Total 2024 116,211 104,455 Independent examiner's remuneration The independent examiner's remuneration amounts to an independent examiner fee of £1,800 (2023 - £1,620). and other servi8 and fees of £34212023 - £2491. Staff costs 2024 2023 Wages and salaries ConlribLJtion to defined contribution pension schemes 28.998 713 33,187 698 29.711 33,885 Page 16
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEJIR ENDED 31 DECEMBER 2024 Stsff costs Icontlnued) The average number of pgrsons em Joyed by the Charity during the year was as follows.. 2024 No. 2023 No. Administration No employee reiVed remuneration amounting to more than £60,000 in either year. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023- £NIL). During the year ended 31 December 2024, no Trustee expenses have been incurred (2023- £NIL). Page 17
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEJIR ENDED 31 DECEMBER 2024 10. ststement of funds statement of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Income Expenditure Unrestricted funds General Funds 418.766 151,821 1165.966) 404,621 In prior years the Charity had received grant8 from 'Love the Broads, and 'Brighter Days, tolalling £2,220 and £2,226 respectively. The Love on the Broads furKI was to be used towards Wideo 'Recording of Memories. and was fully expended in the 2023 financial year. The Brighter Days fund was to be Ljsed towards "Library and display storage" and was fully expended in the 2023 financial year. I funds are unrestricted in the 2024 financial year. Page 18
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEJIR ENDED 31 DECEMBER 2024 10. ststement of funds Icontlnued) statement of funds - prlor year Balance al 31 December 2023 Balance at l November 2022 Transfers Nn/oul Income Expenditur6 Unrestricted funds General Funds 420,432 159. 714 (161,518J 138 418,766 Restrlcted funds Love the Broads Brighler Days 1,938 260 (1,800) (655) (t38) 395 2,198 395 (2,455) (138) Total of funds 422, 630 160, 109 (163,973J 418,766 11. Summary of funds Summary of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Income Expendlture General funds 418,766 151,821 1165,9661 404,621 Page 19
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEJIR ENDED 31 DECEMBER 2024 Summary of funds Icontlnuedl Summary of funds - prlor year Balance al 31 December 2023 Balance at l November 2022 Transfers Nn/oul Income Expenditur6 General funds Restrided funds 420,432 2,198 159, 714 395 {161,5f 8) f2,455) 138 (138) 418,766 422, 630 160, 109 (163,973) 418,766 12. Analysis of net a$set$ between fund$ Analysis of net assets between funds - current period Unrestricted funds 2024 Total funds 2024 Current assets 404,621 404621 Total 404,621 404,621 Analysis of net assets between funds - prior period Unrestricted funds 2023 Total funds 2023 Current assets 418, 766 418,766 Total 418,766 418,766 Page 20
THE ROYAL AIR FORCE AIR DEFENCE RADAR MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEJIR ENDED 31 DECEMBER 2024 13. Assets retalned for Charlty's own use at the end of the perlod Total funds 2024 Total funds 2023 2024 Building and Building Improvements Museum Displays Equipment 193.371 39,950 24,779 193.371 39,950 24.779 154,403 29,996 28,057 258,100 258,100 2f2,456 14. Pension commitments The Charity operates a defined contritxjtion pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity lo the fund and amounted to £713. 15. Related party transactions The Charity has not entered into any related paty transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 December 2024. Page 21