1 **NEWARK AIR MUSEUM TRUSTEES REPORT FOR THE YEAR 2022** We started the year in a reasonably optimistic mood, and with Covid Regulations starting to be relaxed. A steady influx of visitors provided an encouraging start; however, this was soon brushed aside with the unprovoked invasion of Ukraine, and the associated cost increases and uncertainty the invasion created. Here is an appropriate time to place on record our thanks to all of the staff, members and visitors who have helped the museum during these challenging times. As a volunteer managed registered charity we rely on public admission fees, shop sales etc. to fund our operation and like most similar organisations in 2022 we once again relied on the generosity of our visitors, volunteers and staff to help us get through – thank you all. However, despite these challenges we still attracted 24,583 paying visitors. External support, advice and guidance was still available, and we would like to give a particular mention to the following organisations: Association of Independent Museums (AIM); Museum Development East Midlands (MDEM); The team at Visit Notts; the tourism & finance teams at Newark & Sherwood District Council (NSDC); Arts Council England; and Visit England – they all helped us greatly and we do appreciate their support. As in previous years the trustees will use this report to detail the museum’s performance against its stated Forward Plan and Strategies. The accompanying accounts have been prepared in line with updated SORP reporting guidelines. We have also complied with the requirements of the Charities Act 2011 in having due regard to public benefit guidance published by the Charity Commission. The trustees aim to retain a reserve fund of £80,000 as part of their budgeting process to cover any period of significant loss through accident or natural adverse events; a point that was highlighted by recent Covid related issues. ## **Performance Against Our Five Year Forward Plan** ## **AIM 1.** _**Development & continued integration of the Southfield Site.**_ Whilst local pressures on the museum’s existing infrastructure started to increase again; the need for the continued integration of the Southfield Site into the museum operation; remains an important part of our development. Rent related issues for the leased site remain in place and we are still monitoring these effects on our Northfield Site lease. Our hardstanding areas on the Southfield Site, and the repositioned aircraft provided ideal focal points for the various museum events that were hosted during the year. Our waste treatment system, continues to operate within specification, as verified by the associated sampling regime and we continue to comply with Environment Agency discharge standards for the cleaned water being discharged into the culvert. The café with its varied menus continued to thrive despite the need for higher prices due to the VAT and ever-increasing costs associated with global economic conditions. The grassed area of the Southfield Site continues to be maintained, which has enabled its continued utilisation as a temporary car parking area for special event days; thereby easing parking issues elsewhere around the local area. The RAF Winthorpe Memorial Garden continues to be well maintained; and we were able to host a Remembrance Sunday service in November. ## **AIM 2.** _**Secure the long-term future of Aircraft and Small Artefacts.**_ The quality of the restoration work and displays coming from the volunteers and staff continues to be of the highest standard. Extensive restoration and cleaning works were carried out on the following exhibits, notably: Ashton, Buccaneer, Canberra PR7, Canberra T19, Clutton FRED, Cushman & David Brown tractors, Chinook, Desford, Dominie, Gannet, Gazelle, Gnat, Harvard, Hastings, Heron, Hunter T7, Jaguar cockpit, Leonides engine, Lockheed T-33, Meteor T7, Merlin engine, MiG-23, MiG-27, Monospar, Mooney, Mystere, Pegasus engine, Puma, Shackleton, Vulcan; Wessex and various munitions. 2 Plans were put into place to start to address the issues raised in the Conservation Reports on our Vulcan and Shackleton aircraft. To some extent work on these two aircraft was run in parallel. Concrete jacking pads were designed and built underneath the Shackleton, which allowed the refurbished jacks to be installed. This allowed the aircraft to be reopened to the public and to start generating income to help with the restoration costs. At the end of May work was completed on the installation of scaffolding around the nose and one wing of the Vulcan, allowing the planned repainting work to commence. A fund-raising campaign had raised some funds towards these costs and the British Aviation Research Group generously agreed to fund the cost of the paint. Work continued when temperatures allowed, the hot summer weather sometimes preventing work being carried out. More work was achieved than anticipated and the scaffolding was moved to the other wing, which was also repainted – the scaffolding was finally removed in December. The Accreditation resubmission process progressed during the early part of the year, and we continued to work updating our Policies and Processes; in July 2022 we were advised that once again we had retained our Accredited status. Rationalisation of some non-accessed items continued to other properly constituted organisations / restoration projects; in line with one of our stated charitable aims of supporting other aviation projects. A programme of building maintenance and upkeep was ongoing. Various fresh displays were incorporated around the museum. Good use of the Archive was maintained and we responded to regular public enquiries, which benefitted a number of local groups and organisations. ## **AIM 3.** _**Continue development of the educational resources we provide.**_ With the easing of Covid regulations we were able to host a record number of facilitated school visits. For the first time ever we hosted more than one thousand young people from across the region, which was a figure of 1,054 from twenty-four different schools; covering age ranges from Reception to Year 9; with topics of World War I; World War II; History of Flight; Transportation & the Wright Brothers; Art & Poetry and the Principles of Flight. In addition, we hosted elven Air Training Corp (ATC) units; seven Cub/Scout packs with 271 young people visiting; and four university group visits of various sizes. Some initial discussions took place with staff from the fast-developing Air and Space Institute in Newark, with a view to providing improved educational learning experiences for local students. The Anderson Shelter/Dig For Victory Garden and the World War II era Royal Observer Corps Post displays continue to provide important focal points for education visits and also members of the public. ## **AIM 4.** _**To improve the Visitors experience whilst at the Museum and increase access to all areas of the collection.**_ As the year progressed we were able to gradually reinstate open cockpit access to an increasing number of exhibits. This involved retraining our volunteers on the various aircraft and cockpit sections; we also introduced a contactless payment option via our Just Giving pages for such cockpit visits. We were able to host an increased number of special event days. This included: A Falklands 40[th] Anniversary event, which was combined with a Cold War reunion event in April/May; Cockpit-Fest and an outdoor Aeroboot in June; two Day Night Photo Shoot events in arch and October; plus, an in-person Remembrance Sunday Service in November. All of these events were well attended and provided a steady and welcome return to some sort of normality. Once again the reasonably good visitor numbers that we were able to record seem to highlight that people felt comfortable in visiting us during this challenging period. 3 ## **AIM 5.** _**Develop further the subject of Training as a key theme of the museum.**_ Sadly, we were unable to make any progress in the process of transferring Eurofighter Typhoon DA4 (ZH590) to the museum. We still intend to complete this project. Progress with Leicestershire County Council (LCC) over the acquisition of the Reid & Sigrist Desford airframe, was however much more positive, but with a few challenges to overcome. After the LCC undertaking additional consultation work within the council and the wider community; an agreement to proceed was secured. Thanks to the support from the Newark & Nottinghamshire Agricultural Society and the Newark Motor Auctions, we were able to prepare for the aircraft to be flown into the airfield’s former runways. The transfer of ownership was notified to the CAA on 15[th] Aguste, and the delivery flight was completed safely on 19[th] August. We would like to place on record our thanks to everyone involved in making the acquisition of this unique aircraft possible. Several training aircraft in the collection the received preparatory work for their eventual restoration in the coming months. ## **AIM 6.** _**To implement better project planning and enhanced communications at all levels of the organisation.**_ Throughout the year significant we prided ourselves on providing regular updates and posting up to date and informative content onto the museum’s website. The Social Media activities continued to be supported with both the Facebook group and a Twitter account flourishing. These platforms helped keep the volunteers and public advised of our opening status and on-site activities. Our quarterly museum membership renewal system continues to encourage more people to take out museum membership. Guest writers continue to contribute articles and features to the Dispersal newsletter; the museum is grateful for this ongoing input from around the world. Following the notification that we had been awarded a grant from the Nottingham Regeneration Trust for funding towards a new Crewroom for our volunteers, we pursued this project with renewed vigour. After consultation with the Newark Community First Aid group, over their experience on a similar project we eventually placed an order with a local modular build company. Throughout the summer the project was developed and finally installed in the late autumn, on an area of the site where the original café had been located. This new unit provided much improved facilities and space for our volunteers; and also more appropriate accommodation for our Restoration Manager. As with previous years, detailed Conservation Studies were carried out on some aircraft, which allowed us to take balanced decisions when needed. This included reviewing the existing Reports and implementing meaningful programmes on aircraft like the Shackleton and Vulcan. Special thanks to those volunteers and staff who undertook these surveys. Gift Aid data started to be entered thanks to the efforts of museum volunteers; albeit the software used for the claim system was struggling to be maintained and we started to look for new software options. During the year various a limited number of meetings were held with a number of external partners / advisors including the local councils; site landlords; local Heritage Fora; reports and feedback information were made available for these activities. The outsourcing of a significant part of the book keeping work, furlough, wages and PAYE continues to work well. Beneficial external programmes, for trustees, staff and volunteers continue to be used as and when appropriate. ## **AIM 7.** _**To invest in people and to encourage an enhanced personal involvement in the Museum and its collection.**_ Post-Covid our volunteers once again stared to attend site and work on a growing number of projects under the supervision of the Restoration Manager, with support from various museum volunteers and the trustees. The role of the working members remains extremely important, and 16’200 volunteer hours were recorded during 2022; and many thanks go out to everyone involved in this vital work. Further working 4 members were inducted at the museum and the aircraft documentation items continued to be integrated into the Conservation Policy. Audience Development work continued with further consultation exercises via the Visitors Book; post codes gathered from Gift Aid data; and online feedback. We also provided feedback for the ONS and VisitEngland – and providing background data for possible future grant applications. The commitment of trustees and staff has continued to address various administrative tasks including: Health & Safety; Food Hygiene Regulations; SORP Compliance for the Charity Commission; the National Minimum Wage; Pension legislation and Radiation Monitoring. In particular, Health & Safety documentation continued to be high on our Agenda along with other policy documents, including the cash-flow forecasting and various items connected to Museum Accreditation. There remained a reduced level of Staff meetings but we endeavoured to main communication channels via, email, telephone and via the website. During the year we had three people retire; one from the shop staff; and two from the ground staff. Recruitment was carried out successfully to replace these much valued people; Julia Wallace, Nigel & Jude Bean, who we thank for their efforts. We are pleased to note that they have all offered their time as volunteers at the museum and it is nice to still see them on site. The new members of staff Matthew Jackson and Peter McEntee have both settled in well to our great team. In the autumn we also hosted the launches of several books published by museum volunteers, which detailed the operational activities associated with the Vulcan aircraft; and these publications are now offered for sale in the Museum Shop. ## _**AIM 8. Foster greater links with the armed services and veterans in the local area**_ Post-Covid the opportunity to establish bonds with the local Royal Air Force Stations was restarted and we hosted a number of visits by Officer Cadets from RAF Cranwell & Force Development visits. As part of the Falkland Anniversary weekend RAF Explosive Ordnance Disposal (EOD) display was formally unveiled and a new EOD Memorial was dedicated in the Memorial Garden; both of which attract a steady flow of visits by ex-EOD personnel. These links continued to be reinforced by recording low flying aircraft on training flights over the museum, on a special page on the museum website. In the summer we took on loan a complete example of a Rapier Field Standard C (FSC) Ground Based Air Defence system. These impressive units form a display that is unique in the UK and attracts interest from current and former RAF Regiment personnel. In the latter part of the year we started to formulate plans to contact former Vulcan personnel who served on our aircraft, this was in support of some anniversary events early in 2023. ## _**Other Milestones**_ The museum again fulfilled some mentoring / consultation work with several like-minded groups mainly via email, telephone communication, but also with a couple of site visits. As has become the sad custom we complete this report when we note the sad passing of long standing museum volunteer Paul Cotten; who complete a significant part of the internal restoration of our Avro Anson aircraft and then also volunteered as an aircraft cockpit opener. On a lighter note a non-accessed helicopter cabin was disposed of to the comedian Johnny Vegas, who visited the museum to film its acquisition for the TV programme, Carry on Glamping. His jovial presence was a great tonic to museum volunteers, staff and our visitors. _**Approved at the AGM on 19[th] August 2023**_ _**The Museum is a registered charity no. 256434**_ Company Reglstration Number: 00930888 The Charliy Reglstratlon Number is: 256434 Newark (Nottinghamshire & Lincolnshire) Air Museum Limited Report and Accounts 31 December 2022 Newark {Nottlnghamshire & Lincoln5hirel Alr Museum Llmited Report and accounts for the year ended 31 De¢ember 2022 Contents Page Independent Examlnerfs Report Funds Statements: Statement of Financial Actlvltles Movement In funds Income and Expenditure Account Balance Sheet Notes to the Accounts Newark INottlngham5hlre & Llncolttshlrel Atr Museum Umited Report ofthÈ Independent Examlnerto the Tn￿ee$ of the tharitsble compa￿V on the accounts forthe vear ended 31 December 2022 I report on the financlal statements of the chaTttable company on pages 3 to 16 forthe year ended 31 December 2022 which. have been prepared in accordance with the Chadties Act 2011 (the Act) and w1th the Flnancial Reportlng Standard J02, leffectNe tst January 20161 a5 modified by FRS 102 SORP1Statement of Recomm&nded Pr3ctSce for AcEounting and Reporting rry Charit esl 2D15 las arnended by Bulletin I Issued February 2016 and Bulletin 2 issued in October 20181 published i)y the Charity Commission in England & Wales ICCEWI, effettive January 2019 lThe SORPI. underthe historical (osr convention and the 8ccountln8 pollcies set out on page 9. Respectlve rRspDngbllltle5 of the Trustees andthe Independent Examiner A5 descrfbed on page 2, rhe charitsblecornpany'sTnJsteeswho are also the Director5 of the CDmpanyfor the purposes of Company law, are responsibleforthe p￿ParatiOn of the flnanaal ststern￿ts Én accordance wlth applicable law and Unlted Kingdom Generally Attepied Atcountin8 Pr*tice, apjlicableto srnallw enttr1￿, and for beln8 Sat￿rIed thatthe financial staterryer.ts gwe a true and fa'r view. TheTrustees consider thatthe audit ￿QuIreMent of Section 14411) of theCharitiesAtt 2011 ItheActl does not apply, and that t.nere Is no requirement In the rnemorandurr. and arUcle5 of the charity for thacondutting of an audit, snd thatthe accounrs do not require an audlt In accordance with Part 16 of the Companie5 Att 2006 and that no member or Members have requested èn audir Pufsuant to Sertlon 476 of the Companl Act 2006. As a consequence. the Trustees b.ave elected that the financial statemdnts be subjert to independent examlnation. Having satlsfied tny5elf that the charity i% not subjf£tto audlt under any legal provlsion, or otherwlse. and Is digib1e for independent exarnination, It is my ￿￿onsIbl1[￿t0:. al examine the accounts under SLytrL￿ 145 of the Att,. bl lollowthe pr￿dUr&S In the General Dirertions gNen bythecharfty Cornrlli5sion under Section 14SlSllbl of theAci and- cl state whether particular mattws have cometo rny attention Bas15 of Independeni Examlner'sStsterneSht and scope of two￿ undertakèn I conducted my examination in accordancevmh the General DirettK)ns wveD by the Charity Commisiion undersection 14515llbl of the Art. settin8 Out thedutie5 0. an Indepe￿dent Emamiller in ￿latiOn to the conducting of an Independent Examination.An Indepepdetbt E￿mInatIon irbclud& a review of the accounting records kept bythe charitable company and irf Lhe aceuunting systems employed by the charitable company and a comp8rison of the flnanclal statements presented wit4 those records. It also includ2sconsideration of any unusual Ktems or dlsclosures in the finanual statements, and seeking explanations frorn you, as Trnstees, concernin8 such matters. The purpose of the examinatlon to establlsh as fa." as pos51ble that there have been no breaches of charity leglslatlon and that ttriefinancial s:. atener.ts Comply with theSORP, on a tESt basis, ol evldence rdewant tD the èmounts and disclosures in thefinancial state*￿ents. The procedure5 undertaken do not prowde all theewdencethat would be required Ir* an audlt, and inforrn3tion supplied bythe Trust￿ In the tourse of 'heexamination is not 5ubjEtted to audit tests or enquirie5, aThd consequently I do notexpress an aud¥t opinion on the wew giver. bythe ftnancial statem@nts. and In part,icular, I ￿presS no oplnion as to wherherthe financial strd:efflent5 8lve a true andfairview tsf the affairs of the charity, and my report is Ilmited to the matter5 set out In the statwnent bek>w. I planned and perfonmed my examinatton so as t05atsify thatthe objecdves of the Independent Examin3tlon are achieved and before finalising the report l obtained written as5ur4n£es from the Trusteès of 11 material matters. Newark [NottIn￿amSh1re & Lincolnshlrel Air Museum ijmlted Independent Examinerfg Ststement, Report•nd Oplnlon Sublertto the Ilmitation5 upon thescope of my work as detailed abtrve, In connecuon wth myexaminatiDn, I can confirm that:. The accoynts of this CharItab￿ company are not required tD be audlted under Part 16 of the Companies Act 2006., The grDSS income of the charlt8ble com￿nY1n the yearended 31 Decernber 2022 appears to ex￿ed the sum 5peclfled in sec￿on 145131 of the Att, wamely £250.IX)O. and.hat l am quèlffied to act as Ind&pendent EKaminer accordance wththatsettion bYv¢￿ue of ny bein8 a qualifled mernbero., the Institute of artered Accourf.ant5 in Enland and Wales IICAEWI. This is a report in respect of en ey2mination carrled out undersection 145 of theAct and In accordan￿ wrth Gene￿1 DirectbThs g',ven bytr.e tharityCommLssion'JnderSectTon 14S15llbl of the Act whlch may be appItrAb￿.. and that no matter ha5 come to my aEtentw)n In conneLtion wlth my examtnatxm which ￿Ve5 me reasonable causeto belleve that in any materwl respert the requirerne5rts'.- to keepaccountlng records In accordan￿ wtth Se£tlon 386 of the Companles Att 2C4)6 and Section 130 of the Charl￿e$ACt 2011; io prepareflnandal ststementswhich accord wtth the accountingrecords and comply with the accounting requirernEnts ofsectM)n 396 of theCompanie5 Act 2006 and the CharEttes Act 2011 and; have been prepared in accordance wlth the requirements of Sectvjn 396 of the Curnpan es Att 2006 nd wttl the methods and principle5 5etotrt In FR5102 Ststefflentof Recornmended Pra¢tic?-Accountlng aE2d Reporting by Chari".ies leffecb¥e Jènuary 20191 have not been met orttswh￿h, my opinlon, attentw)rt should bedrdwn in rny T2POrt in iyderto enable a proper L'nd2r5tsndinE of the 8ccount5 to be ¥eached: Hassan Rashid- Independent Exarniner Chartered Accountant IICAEW) 27 Castlegate Newark ottlngh8mshlre NG24 IBA 17 AprS12023 Newark INottlnghamshlre & Linco5nshire) Air Museum Limited- Ststement of Flnancial Activltles foT the year ended 31 December 2022 Statement of Flnanctal AcUvltSe51Includlng the Income and Expendlture Account for the year ended 31 Decpmber 2022. as requlred bythe Companies Art 2006 SORP Qtyrentyear CUTreTrty￿r Ojrrentyear Tot81 funds Prfor year Total Funds Funds ZO72 2022 2022 2021 Income & Endowments from: Donation, Legacles and Grants Charitable activltles Other trading actlvities Investments Al 70.357 217.821 108,848 161 70,357 217,821 108,848 161 109,243 137,C125 71,532 io A3 Totsl income 397,187 397,187 317,BlQ ExpendltUTe on., Raislng funds Charitable activitie5 Bl B2 105.624 325.571 105,624 325,571 82.867 276.488 Total expendlture 431,195 431,195 359,355 Net expenditure lor the year {34.008) I34,￿8) 141,5451 Net expendlture after transfers 134,0081 134,0081 141,5451 Net movement In funds 134,0081 134,0081 141,5451 Rpconcillatlon of funds:. Total fund$ brought forward 666.489 666,489 708,034 Total funds carrled forward 632,481 632,481 666,489 The'50RP Ref indicated above Is the dassification of income set out In the formal SORP documents. A5 required by pa￿graph 4.60 ofthe SORP, the brought forward and ¢affied forward funds above have agreed to the Balance Sheet. A separate Statement of Total Recognise(l Gains and Losses is not required as this statement indudes all recognised gains and losses. All the prior year transactions were unrestricted items. and no further analysis is required. A51 activlties derive from contlnulnB operations. Newark {Nottlnghamshire & Lincolnshlrel Air Museum Llmlted - Ststement of Financlal Activlties for the year ended 31 December 2022 Newark (Nottlnghamshire & Linfolnshirel Alr Museum Limlted- Resources applied in the year ended 31 December 2022 towards flxed assets ter Charlty use:_ 2022 2021 Funds generated in the year as detsiled in the SOFA Resources applled ¢n funrtlonal flxed assets Resources applled on Heritage assets 172,7491 12,4801 Net resources used tofund charftsble artlvitlES 172.7491 12,4801 N¢wark INottln8hamshlrè & Llncolnshirel Air Museum ￿mIted- Statement of Hnandal A¢tlvltles for the year ended 31 December 2022 Movements In revenue and capltal funds for the year ended 31 December 2022 Rev¢nu2 accumulated funds Total Funds 2022 Prforyear Totsl Funds Fwids FuAds Aceumulated funds brought fon#ard 666,489 666,489 708,034 e¢o8nlsed gains and losses beforetrdnsfers 134,(N)81 134.0081 141,5451 632,481 632.481 666,489 0gtnB rov?nue fvnds 632,481 632.481 566,489 Rgvoluatlon Reserve Fund Unrestrkted Fund5 2Q21 Funds 2022 Funds 2022 Funds 2D22 Al 1st J4nunry 2022 Ak3X Dpcember 2022 $ummDry ofFunds Vnrestykted and Unrestricied and Deslgfiated lunds Totsl Funds 2D22 funds Funds 2022 2022 2021 é¢wmul?ted funds 632,481 632.481 666.489 11 Newark (Nottlnghamshire & Lincolnshirel Alr Museum Umited- Statement ol Flnanclal ACtI￿tieS for the ￿ar ended 31 DÈtember 2022 Newark (Nottlnghamshlre & Untolnshlrel Alr Museum Llmtted Income and Expendlture Account forthe year ended 310ecember 2022 a5 requlred bythe Cornpanies Act 2006 2022 20 Income Incomefrom operntions 397,026 317,800 Investment ittcome InteiESt ￿ceiV2b1e 161 io Gross Income In the year before ex¢eptyonal Item5 397.187 317,810 Gr05s Income In the year IncludlnB exteptlonal item5 397,187 317,810 Expendlwre Charitsble expenditure, excluding deprec4ation and arnortisatyon Depreclatyon and arno￿5at￿ Fundraising CDSts Governince c05t 255,569 72,810 100,296 2.520 208,738 69,194 79.143 2,280 Total exPen(ntU￿ In the year 431,195 359,355 Net loss beforètax in the finartcl81 ye 134,0081 141,5451 Tax on deficlt on ordlnary actsvltie5 Net loss aftertaxln the flnartdal year 134,0081 141.5451 Retained deflritfor the financlal year 134,(X)Sl 141.5451 All attiwtSes derfve frorn continuin8 operdtions In accordance wi¥ih the pro￿ls1on5 of the CoM￿nIeS Act 2L￿, the headings and subheadin8s used inthe Income and Expenditure account have b&n adapted to refittt the special natureof the charity'5 3ci1wt￿s. Newark (Nottlnghamshlre & Lincolnshlrel Alr Museum Umited Balance Sheet as at 31 December 2022 Sorp Note Ref 2022 2021 fixed assets Tangible a55ets Heritage assets 9 A2 479.430 24,201 476,432 27,260 Total flxed assets 503.631 503,692 Current assets Stocks Debtors Investment5 held a5 current assets Cash at bank and In hand Bl 11 B2 12 B3 15.922 36.617 14,387 29,812 95.7L6 132.391 Total current assets 148.255 176,590 Credltors:amounts falling due wlthln one year ci 18,1211 112,509 Net current assets 0,ts4 164,OBI Totrl assets less current liablllties 633,765 667.773 Credittsrs.. amoyrrt5 falling due after more than one year 14 C2 11,284 11,284 The total net assets of the charity 632,481 666,489 The total net assets of the charity are funded bythe funds of the charity. a5 follows.'- Restrltted Funds Unrestrlcted Revenue Funds D3 632,481 666,489 Desl8nated Funds rotal Charlty Funds 632,481 666,489 The'SORP Rel, as indicated above ig the classlfication of Ba5antr Sheet ttems as set out ill the formal SORP documents. A5 required by paragraph 4.60 of the SORP. the broU￿t torward and carried forwird funds above have been agreed to the 50FA. The dlrectors are satisfied thatthe company is entitled to exemption from the requirementto obtain an audlt under Section 477 of the Companies Act 2LK16. Newark (Nottlnghamshire & LIncoln5hi￿} Air Museum Limited Balance Sheet a5 31 December 2022 The member5 have not required the companyto obtsin an audlt in accordance with section 476 of the Act. The direcrors acknowledge thwr respon5ibilk¢les for complwng with the requlrements of the Companles Act 2006 with respect to accounting records and the preparatlon of accounts. The charity is subject to Independent Examinauon under charity legislation, and the report of the Independent Examiner is on page I The finanaal 5tstements have been prepared in accordarkce with the provi%ions In Part 15 of the Companie5 Act 2006 applicable to companle5 subject io the 5tnall companie5 regime. H Heeley TTU5tee 17 April 2023 Newark INottlD8hantshlrÈ & Llncolnshlrel Alr Museum Llmited Notasto theAc(ountsfoi theye8r end2d31 D#￿ber 1022 l Auountln8 pollcSes Polldesrdotlngto theprodvrtlMoAtheo(cwnts B451s of prgpBratlL* avdatcDungngConv*￿OD Theaccounts1¥3ve b£en p￿Pared on the acc￿￿1$ basts. underthe hlrtorical c05tcoDvEntitirn ltt attordan￿￿th the Flnanclal Reportln8 star.dard 102.,'effertive 1st January 20161 ar,d FRS 102 SORP (Statement of Recommend Pract5￿ forAxountiN8 and Reportin81ry Chartuesl 2015135 amended by Bulletin l issued February 2016 and Bullttln ? 15sued October 20181 publlshed by the Chadty Cornm.-55Io￿ In Etwand &W3les (C￿￿]. eflertfve Jonuary2019, (The SORPI. and In accordance￿th *ll appllrable13w Inthe th3rity-'5 jurisdi￿01& ?f re•5tration, ex￿pt thatthech31ity has prepared the flnaTraak5taiemext51n atcordance with FKS 10250RP IS>temer.t of ReLYmmended PréLtirE forAccountlngat)Y Reportlng by Charitlesl 2015 IisarnendÈd by Bulletin 115sued in February 2016and BullÈttn 2 ts5u¢d October2018 effettiveJanu*¥ 20191 GolncC*)ncein The tnJstees3re ofthevknthaf the th¥ity ￿a￿VIn8(0nCern. Poll¢lesrtloth4 to coleo￿leS pAlnL*nkandlncornerettsgnltlon Membershlpsubxdplon5 The Income and any assoclated Glft orothertsx rfL'nd from 3 Me￿beT$hsP gJbstrtpUon recefved ￿ the charfty In the nature of J8lfL ts accouftt2d for t>n thesame bas￿ asadonat￿n. Thelncome from a membetsh4p wbscrfpbon receNd by ihe charfry b%here the 5ubscriptton purchasesthe rlght to sernitts or benefits is rectgnlsed a5 Incw.e frorn tharitable actl¥ltles. Reco8nltlon of Ilablljtles and Éxpthd￿Ure A Ilabllty, ènd there',3ted expendlture. ￿r@[￿lISed*herI a legal orcon5truttNe tsbU8afjon exlstsa5 a result of a past event. aDd ￿en It is mole liKetyihan notthat atrnnsfer of ecor.amic beneftts wlll ￿[EqUIred in settlement, Ènd when the amountof the oblis8don (an be rneasurÈ are measured on iniital recogn￿On at settlement amount after any trade dlscounts or amount advanted by the charity. ￿bSeqUen￿y. they measured attht cash sr other consldera¥on expected to be recefved. Current a5setlnvestments These Include cash on dew)slt heldftjr investment PUTposes ratherthan to rneet sh0rt-tem1￿5h conynltments asthey fall due. Creditors and provJsi¢ The charlty h3s whlch a￿ measured at Sett￿rnent amounts le55 anytrade dtscounts Cash and b•nk balance5 Cash held bythe Char￿v,.5 included atthe amount actualty held and o)unted atthe year End. Bank ￿lan05, whether In credit or overdrawn, are shDwn at the amounts woperty reconi3ledtothe bank Statements. 2 Llabllityto taxation The Truste￿ con51deTthat the cPoritysatisfEsthetests set out In paragraph I Schedule 6 of the FlnarTrce Att 2010 for UK corporation taKpL'rposes. Accordir£ly, tfr,e Charty is PK)teDtiallyeKemptfvorn ts¥atlon In respett of Income or capthl g?ins recel¥ed wtd)In the categories covered iychapter 3 part 11 of the CorwrationTax Act2010 orsectlon 256 of the TaKatlon ol Chargeable Galns Act 1992. to the extent that such incor* or gains are applEd eyClUs￿eIY on the specific charitable objects of th.e charlry and for no other purrNJse. V31up Added Tax ￿ not ￿cOVerable bythe charityi and Is the￿fore induded In the relevart wsts Ill the 5tateme#t of Flnanaal Activities. 3 Wlndlng up or dtssoludon of the charfty If upoi wlnding L'P or d15soluiion of the charlty the￿ remain èny as5et5. afterthe satlsfaction of 311 debts and Ilabilltjes, the assets represented bythe accomulated Fup.d shall be transferred to some other chailtable body or bodles havlng slrnltsr ots'ectg to the chaffty. io Neurdrk INottlngh?rnshlre & ￿n£0[￿S￿Ire) Alr Museum Umlted N￿eSte the Accountsftsrthe year ended 31 December Z022 4 Nei delldt before tax In the flnandal year 2022 2021 The net deftcit before tax lft the finarKlal yearts stated after thèr&￿- Depredation of owned fixed assets Depreaatitsn and amortlsatlon of heri(è8e assets 69.751 3.059 56.135 3.059 5 The contributlon 01vo￿nteeYs The value of aDy ￿Iuntsry help rece￿ed*S notI￿l￿ded withlnthe accounts butlt ￿deCribe￿ in the Trvstees. Annual Report. 6 Staff costs ar￿ ernDlum*tts 2022 2021 Average numbeF5 of emph)yeÈs indudln8dlrectors eJ￿￿oyed duringthe year.. Museum Calé Trustees Stalf costs 2022 2021 Salarl&% and w3ge5'. Museurn C¥lé Soc181 securlty and penson costs 96.361 60.085 6.168 162.614 89,592 53,279 5,073 147,944 No employee5 had etnoluments In extssof E60.WO12020-nlll. Y Remunera￿On and p8wnentstoTrustee5 ar￿ persorKsrortne£tedwlth them Ilo trustees orper50ns conrEtted with thetn t￿￿1¥e￿ any remuneratian frorn thedurtty. or ar*y r￿ated entty. The trustees were re-iTbursed tT3vel expen5e5 duriry the year £O12021..£01. S Her1￿e asseis included In the accounts Total ol valuatiL and c051 2022 Ttrtal of valuatoi) and cost 2022 At C4)5t At V81ua¥on 2022 At lJanuary 2022 Addftions 61.178 61,178 61,178 At Sl Decemb9r 2022 61.178 61,178 61,178 Depreahtio At lJ2nuary 2022 Ch4rgÈ fvthe year 33,918 3,059 33,918 3,059 33,918 3,059 At31 ￿e￿mber 2Ct22 36.977 36.977 36,977 Net bookwdltso at31 December 2022 24.201 24.201 24,201 li Newark INottlnghamshire & Lincoln5hirel Alr Museum Limlted Note5 to the Accounts forthe year ended 31 December 2022 Land and Bulldings Plant and Machlnery 9 Tangible fixed assÈts Total Cvst At l January 2022 Additions Disposals At 31 December 2Q22 1.243,332 71,663 44,213 1,086 2,0101 43,289 1,287,545 72,749 12.0101 1,358,284 1.314,995 OéprecSatlon At l January 2022 Charge for the year Dlsposa15 At 31 De￿n￿er 2022 787,706 63,327 23,407 6,424 12,0101 27,821 811,113 69,751 12.OID 878,854 851,033 Net book value At 31 December 2022 463,962 15,468 479,430 At 31 December 2021 455,626 20,806 476,432 10 Stocks & work In progress 2022 2021 Stocks before wdte down5 15.922 14,388 15,922 14,388 11 Debtors 202Z Z021 Trade debtors Prepaynènts and accrued income Other debtors 9,215 27,402 10,261 19,551 36,617 29,812 12 Investments hekl a5 turrent assets ar market value at 31 Deomber 2022 2022 2021 Cash on deposlt- more than 3 months notice 12 Newark (Nottingham5hlre & Llncolnshlrel Alr Museum Llmlted Notes to the Ac(ounts for the year ended 31 December 2022 13 Creditor5'.amounts fallln8 due wlthth one year 2022 2021 Trade creditor5 Accruals 6,523 11.598 923 11,587 18,121 12,510 14 Credltor5: #mounts falling due after more than onèyèar 2022 2021 Othercre(Iltors-non intsrest bearfng redeemable bond 1,284 1.284 15 Loan5 to trustees in¢luded In debtors The￿ are no loans to trustee5. 16 Guarantees made bythe charlty on behalfoftrustee5 The￿ are no guarantees made bythe chartty on behalf of the trustees. 17 Income and Expendlture accountsummary 2022 2021 At I january 2022 Surplus/lDefititl after tax tor the yeai 666,489 134,CX)81 708,034 141,5451 At 31 December2022 632,481 666,489 18 Related partytr3nsactlons Durlng the year the company used the serwces of Dowrs to Earth Promotions, a bugness operated by Mr Howard Heeley. a trustee. Expendlture in the year amounted to £6,98012021.. £6,756). From Istjanuary 1988 the shop at the museum has been operated by the Newark Air Museum Trading Company mlted. to comply with charity law. All profits of the tradinu company3￿ covenantod to the museum. The shares in the trading eompany are heSd by Mr H Heeley and Mr R Bryan. 19 Ultlmate controltlng partv Every member of the charity Is obli8ed to contributr such amount as may be required not exceeding £ito the assets ol thè company in the event of ti bein8wound up while he or she is a member, or wlthin one year after he or she ceases to be a member. 13 Newark INottinBhamshire & Llncolnshlrel Atr Museum ilmlted Detallèd analysi5 of Income and ￿pendknre forthe yeaT end￿ 31 D￿mber2021 95 requlred byth? SORP 2019 Thls omily515 Is ¢I￿ed bY¢o￿Vent￿M•lnOrnlnOldesufptkn5u￿dn0t by#rtknty ZQ Donatlons and L•gacle5 Ojrrent y#f Currerrtyear Current yQ8r Prlor Year Llrwestrlrted Re5trirt•d fotsl Fund5 Total Funds Funds Funds ZD22 202Z 2022 2021 DOna￿on$ and wfts from indfvkluals Small donation$ Ind￿lduallY ￿sS*han £l.fK)O Legac￿$ Total donadons and gift5 frcm Inthvlduals 11.856 11,856 11,488 11.856 11.856 11,488 Granis recelved 16,465 16.465 67,814 Membershlp 5ubs¢rlptlons 55 donatlijns 9,593 9.593 9,695 Gift ald BIKI covernanted pmffts 32.443 32,443 20.246 Totsl Donati￿5 and Legaa•s 70,357 70,357 109,243 21 Incomefrom Charitab￿ actfv1￿￿T￿din& ArtITthi¢s Current year ￿rEent year OJtTentyoar Unréstrthd Restricted Total Funds FuThJ5 Funds 2022 2022 PTlorYear T￿al Funds 2022 2021 PrÈmary purpD5e and andlLerytradlng Adrnission fee5-Ew. I planned and perfonmed my examinatton so as t05atsify thatthe objecdves of the Independent Examin3tlon are achieved and before finalising the report l obtained written as5ur4n£es from the Trusteès of 11 material matters. Newark [NottIn￿amSh1re & Lincolnshlrel Air Museum ijmlted Independent Examinerfg Ststement, Report•nd Oplnlon Sublertto the Ilmitation5 upon thescope of my work as detailed abtrve, In connecuon wth myexaminatiDn, I can confirm that:. The accoynts of this CharItab￿ company are not required tD be audlted under Part 16 of the Companies Act 2006., The grDSS income of the charlt8ble com￿nY1n the yearended 31 Decernber 2022 appears to ex￿ed the sum 5peclfled in sec￿on 145131 of the Att, wamely £250.IX)O. and.hat l am quèlffied to act as Ind&pendent EKaminer accordance wththatsettion bYv¢￿ue of ny bein8 a qualifled mernbero., the Institute of artered Accourf.ant5 in Enland and Wales IICAEWI. This is a report in respect of en ey2mination carrled out undersection 145 of theAct and In accordan￿ wrth Gene￿1 DirectbThs g',ven bytr.e tharityCommLssion'JnderSectTon 14S15llbl of the Act whlch may be appItrAb￿.. and that no matter ha5 come to my aEtentw)n In conneLtion wlth my examtnatxm which ￿Ve5 me reasonable causeto belleve that in any materwl respert the requirerne5rts'.- to keepaccountlng records In accordan￿ wtth Se£tlon 386 of the Companles Att 2C4)6 and Section 130 of the Charl￿e$ACt 2011; io prepareflnandal ststementswhich accord wtth the accountingrecords and comply with the accounting requirernEnts ofsectM)n 396 of theCompanie5 Act 2006 and the CharEttes Act 2011 and; have been prepared in accordance wlth the requirements of Sectvjn 396 of the Curnpan es Att 2006 nd wttl the methods and principle5 5etotrt In FR5102 Ststefflentof Recornmended Pra¢tic?-Accountlng aE2d Reporting by Chari".ies leffecb¥e Jènuary 20191 have not been met orttswh￿h, my opinlon, attentw)rt should bedrdwn in rny T2POrt in iyderto enable a proper L'nd2r5tsndinE of the 8ccount5 to be ¥eached: Hassan Rashid- Independent Exarniner Chartered Accountant IICAEW) 27 Castlegate Newark ottlngh8mshlre NG24 IBA 17 AprS12023 Newark INottlnghamshlre & Linco5nshire) Air Museum Limited- Ststement of Flnancial Activltles foT the year ended 31 December 2022 Statement of Flnanctal AcUvltSe51Includlng the Income and Expendlture Account for the year ended 31 Decpmber 2022. as requlred bythe Companies Art 2006 SORP Qtyrentyear CUTreTrty￿r Ojrrentyear Tot81 funds Prfor year Total Funds Funds ZO72 2022 2022 2021 Income & Endowments from: Donation, Legacles and Grants Charitable activltles Other trading actlvities Investments Al 70.357 217.821 108,848 161 70,357 217,821 108,848 161 109,243 137,C125 71,532 io A3 Totsl income 397,187 397,187 317,BlQ ExpendltUTe on., Raislng funds Charitable activitie5 Bl B2 105.624 325.571 105,624 325,571 82.867 276.488 Total expendlture 431,195 431,195 359,355 Net expenditure lor the year {34.008) I34,￿8) 141,5451 Net expendlture after transfers 134,0081 134,0081 141,5451 Net movement In funds 134,0081 134,0081 141,5451 Rpconcillatlon of funds:. Total fund$ brought forward 666.489 666,489 708,034 Total funds carrled forward 632,481 632,481 666,489 The'50RP Ref indicated above Is the dassification of income set out In the formal SORP documents. A5 required by pa￿graph 4.60 ofthe SORP, the brought forward and ¢affied forward funds above have agreed to the Balance Sheet. A separate Statement of Total Recognise(l Gains and Losses is not required as this statement indudes all recognised gains and losses. All the prior year transactions were unrestricted items. and no further analysis is required. A51 activlties derive from contlnulnB operations. Newark {Nottlnghamshire & Lincolnshlrel Air Museum Llmlted - Ststement of Financlal Activlties for the year ended 31 December 2022 Newark (Nottlnghamshire & Linfolnshirel Alr Museum Limlted- Resources applied in the year ended 31 December 2022 towards flxed assets ter Charlty use:_ 2022 2021 Funds generated in the year as detsiled in the SOFA Resources applled ¢n funrtlonal flxed assets Resources applled on Heritage assets 172,7491 12,4801 Net resources used tofund charftsble artlvitlES 172.7491 12,4801 N¢wark INottln8hamshlrè & Llncolnshirel Air Museum ￿mIted- Statement of Hnandal A¢tlvltles for the year ended 31 December 2022 Movements In revenue and capltal funds for the year ended 31 December 2022 Rev¢nu2 accumulated funds Total Funds 2022 Prforyear Totsl Funds Fwids FuAds Aceumulated funds brought fon#ard 666,489 666,489 708,034 e¢o8nlsed gains and losses beforetrdnsfers 134,(N)81 134.0081 141,5451 632,481 632.481 666,489 0gtnB rov?nue fvnds 632,481 632.481 566,489 Rgvoluatlon Reserve Fund Unrestrkted Fund5 2Q21 Funds 2022 Funds 2022 Funds 2D22 Al 1st J4nunry 2022 Ak3X Dpcember 2022 $ummDry ofFunds Vnrestykted and Unrestricied and Deslgfiated lunds Totsl Funds 2D22 funds Funds 2022 2022 2021 é¢wmul?ted funds 632,481 632.481 666.489 11 Newark (Nottlnghamshire & Lincolnshirel Alr Museum Umited- Statement ol Flnanclal ACtI￿tieS for the ￿ar ended 31 DÈtember 2022 Newark (Nottlnghamshlre & Untolnshlrel Alr Museum Llmtted Income and Expendlture Account forthe year ended 310ecember 2022 a5 requlred bythe Cornpanies Act 2006 2022 20 Income Incomefrom operntions 397,026 317,800 Investment ittcome InteiESt ￿ceiV2b1e 161 io Gross Income In the year before ex¢eptyonal Item5 397.187 317,810 Gr05s Income In the year IncludlnB exteptlonal item5 397,187 317,810 Expendlwre Charitsble expenditure, excluding deprec4ation and arnortisatyon Depreclatyon and arno￿5at￿ Fundraising CDSts Governince c05t 255,569 72,810 100,296 2.520 208,738 69,194 79.143 2,280 Total exPen(ntU￿ In the year 431,195 359,355 Net loss beforètax in the finartcl81 ye 134,0081 141,5451 Tax on deficlt on ordlnary actsvltie5 Net loss aftertaxln the flnartdal year 134,0081 141.5451 Retained deflritfor the financlal year 134,(X)Sl 141.5451 All attiwtSes derfve frorn continuin8 operdtions In accordance wi¥ih the pro￿ls1on5 of the CoM￿nIeS Act 2L￿, the headings and subheadin8s used inthe Income and Expenditure account have b&n adapted to refittt the special natureof the charity'5 3ci1wt￿s. Newark (Nottlnghamshlre & Lincolnshlrel Alr Museum Umited Balance Sheet as at 31 December 2022 Sorp Note Ref 2022 2021 fixed assets Tangible a55ets Heritage assets 9 A2 479.430 24,201 476,432 27,260 Total flxed assets 503.631 503,692 Current assets Stocks Debtors Investment5 held a5 current assets Cash at bank and In hand Bl 11 B2 12 B3 15.922 36.617 14,387 29,812 95.7L6 132.391 Total current assets 148.255 176,590 Credltors:amounts falling due wlthln one year ci 18,1211 112,509 Net current assets 0,ts4 164,OBI Totrl assets less current liablllties 633,765 667.773 Credittsrs.. amoyrrt5 falling due after more than one year 14 C2 11,284 11,284 The total net assets of the charity 632,481 666,489 The total net assets of the charity are funded bythe funds of the charity. a5 follows.'- Restrltted Funds Unrestrlcted Revenue Funds D3 632,481 666,489 Desl8nated Funds rotal Charlty Funds 632,481 666,489 The'SORP Rel, as indicated above ig the classlfication of Ba5antr Sheet ttems as set out ill the formal SORP documents. A5 required by paragraph 4.60 of the SORP. the broU￿t torward and carried forwird funds above have been agreed to the 50FA. The dlrectors are satisfied thatthe company is entitled to exemption from the requirementto obtain an audlt under Section 477 of the Companies Act 2LK16. Newark (Nottlnghamshire & LIncoln5hi￿} Air Museum Limited Balance Sheet a5 31 December 2022 The member5 have not required the companyto obtsin an audlt in accordance with section 476 of the Act. The direcrors acknowledge thwr respon5ibilk¢les for complwng with the requlrements of the Companles Act 2006 with respect to accounting records and the preparatlon of accounts. The charity is subject to Independent Examinauon under charity legislation, and the report of the Independent Examiner is on page I The finanaal 5tstements have been prepared in accordarkce with the provi%ions In Part 15 of the Companie5 Act 2006 applicable to companle5 subject io the 5tnall companie5 regime. H Heeley TTU5tee 17 April 2023 Newark INottlD8hantshlrÈ & Llncolnshlrel Alr Museum Llmited Notasto theAc(ountsfoi theye8r end2d31 D#￿ber 1022 l Auountln8 pollcSes Polldesrdotlngto theprodvrtlMoAtheo(cwnts B451s of prgpBratlL* avdatcDungngConv*￿OD Theaccounts1¥3ve b£en p￿Pared on the acc￿￿1$ basts. underthe hlrtorical c05tcoDvEntitirn ltt attordan￿￿th the Flnanclal Reportln8 star.dard 102.,'effertive 1st January 20161 ar,d FRS 102 SORP (Statement of Recommend Pract5￿ forAxountiN8 and Reportin81ry Chartuesl 2015135 amended by Bulletin l issued February 2016 and Bullttln ? 15sued October 20181 publlshed by the Chadty Cornm.-55Io￿ In Etwand &W3les (C￿￿]. eflertfve Jonuary2019, (The SORPI. and In accordance￿th *ll appllrable13w Inthe th3rity-'5 jurisdi￿01& ?f re•5tration, ex￿pt thatthech31ity has prepared the flnaTraak5taiemext51n atcordance with FKS 10250RP IS>temer.t of ReLYmmended PréLtirE forAccountlngat)Y Reportlng by Charitlesl 2015 IisarnendÈd by Bulletin 115sued in February 2016and BullÈttn 2 ts5u¢d October2018 effettiveJanu*¥ 20191 GolncC*)ncein The tnJstees3re ofthevknthaf the th¥ity ￿a￿VIn8(0nCern. Poll¢lesrtloth4 to coleo￿leS pAlnL*nkandlncornerettsgnltlon Membershlpsubxdplon5 The Income and any assoclated Glft orothertsx rfL'nd from 3 Me￿beT$hsP gJbstrtpUon recefved ￿ the charfty In the nature of J8lfL ts accouftt2d for t>n thesame bas￿ asadonat￿n. Thelncome from a membetsh4p wbscrfpbon receNd by ihe charfry b%here the 5ubscriptton purchasesthe rlght to sernitts or benefits is rectgnlsed a5 Incw.e frorn tharitable actl¥ltles. Reco8nltlon of Ilablljtles and Éxpthd￿Ure A Ilabllty, ènd there',3ted expendlture. ￿r@[￿lISed*herI a legal orcon5truttNe tsbU8afjon exlstsa5 a result of a past event. aDd ￿en It is mole liKetyihan notthat atrnnsfer of ecor.amic beneftts wlll ￿[EqUIred in settlement, Ènd when the amountof the oblis8don (an be rneasurÈ are measured on iniital recogn￿On at settlement amount after any trade dlscounts or amount advanted by the charity. ￿bSeqUen￿y. they measured attht cash sr other consldera¥on expected to be recefved. Current a5setlnvestments These Include cash on dew)slt heldftjr investment PUTposes ratherthan to rneet sh0rt-tem1￿5h conynltments asthey fall due. Creditors and provJsi¢ The charlty h3s whlch a￿ measured at Sett￿rnent amounts le55 anytrade dtscounts Cash and b•nk balance5 Cash held bythe Char￿v,.5 included atthe amount actualty held and o)unted atthe year End. Bank ￿lan05, whether In credit or overdrawn, are shDwn at the amounts woperty reconi3ledtothe bank Statements. 2 Llabllityto taxation The Truste￿ con51deTthat the cPoritysatisfEsthetests set out In paragraph I Schedule 6 of the FlnarTrce Att 2010 for UK corporation taKpL'rposes. Accordir£ly, tfr,e Charty is PK)teDtiallyeKemptfvorn ts¥atlon In respett of Income or capthl g?ins recel¥ed wtd)In the categories covered iychapter 3 part 11 of the CorwrationTax Act2010 orsectlon 256 of the TaKatlon ol Chargeable Galns Act 1992. to the extent that such incor* or gains are applEd eyClUs￿eIY on the specific charitable objects of th.e charlry and for no other purrNJse. V31up Added Tax ￿ not ￿cOVerable bythe charityi and Is the￿fore induded In the relevart wsts Ill the 5tateme#t of Flnanaal Activities. 3 Wlndlng up or dtssoludon of the charfty If upoi wlnding L'P or d15soluiion of the charlty the￿ remain èny as5et5. afterthe satlsfaction of 311 debts and Ilabilltjes, the assets represented bythe accomulated Fup.d shall be transferred to some other chailtable body or bodles havlng slrnltsr ots'ectg to the chaffty. io Neurdrk INottlngh?rnshlre & ￿n£0[￿S￿Ire) Alr Museum Umlted N￿eSte the Accountsftsrthe year ended 31 December Z022 4 Nei delldt before tax In the flnandal year 2022 2021 The net deftcit before tax lft the finarKlal yearts stated after thèr&￿- Depredation of owned fixed assets Depreaatitsn and amortlsatlon of heri(è8e assets 69.751 3.059 56.135 3.059 5 The contributlon 01vo￿nteeYs The value of aDy ￿Iuntsry help rece￿ed*S notI￿l￿ded withlnthe accounts butlt ￿deCribe￿ in the Trvstees. Annual Report. 6 Staff costs ar￿ ernDlum*tts 2022 2021 Average numbeF5 of emph)yeÈs indudln8dlrectors eJ￿￿oyed duringthe year.. Museum Calé Trustees Stalf costs 2022 2021 Salarl&% and w3ge5'. Museurn C¥lé Soc181 securlty and penson costs 96.361 60.085 6.168 162.614 89,592 53,279 5,073 147,944 No employee5 had etnoluments In extssof E60.WO12020-nlll. Y Remunera￿On and p8wnentstoTrustee5 ar￿ persorKsrortne£tedwlth them Ilo trustees orper50ns conrEtted with thetn t￿￿1¥e￿ any remuneratian frorn thedurtty. or ar*y r￿ated entty. The trustees were re-iTbursed tT3vel expen5e5 duriry the year £O12021..£01. S Her1￿e asseis included In the accounts Total ol valuatiL and c051 2022 Ttrtal of valuatoi) and cost 2022 At C4)5t At V81ua¥on 2022 At lJanuary 2022 Addftions 61.178 61,178 61,178 At Sl Decemb9r 2022 61.178 61,178 61,178 Depreahtio At lJ2nuary 2022 Ch4rgÈ fvthe year 33,918 3,059 33,918 3,059 33,918 3,059 At31 ￿e￿mber 2Ct22 36.977 36.977 36,977 Net bookwdltso at31 December 2022 24.201 24.201 24,201 li Newark INottlnghamshire & Lincoln5hirel Alr Museum Limlted Note5 to the Accounts forthe year ended 31 December 2022 Land and Bulldings Plant and Machlnery 9 Tangible fixed assÈts Total Cvst At l January 2022 Additions Disposals At 31 December 2Q22 1.243,332 71,663 44,213 1,086 2,0101 43,289 1,287,545 72,749 12.0101 1,358,284 1.314,995 OéprecSatlon At l January 2022 Charge for the year Dlsposa15 At 31 De￿n￿er 2022 787,706 63,327 23,407 6,424 12,0101 27,821 811,113 69,751 12.OID 878,854 851,033 Net book value At 31 December 2022 463,962 15,468 479,430 At 31 December 2021 455,626 20,806 476,432 10 Stocks & work In progress 2022 2021 Stocks before wdte down5 15.922 14,388 15,922 14,388 11 Debtors 202Z Z021 Trade debtors Prepaynènts and accrued income Other debtors 9,215 27,402 10,261 19,551 36,617 29,812 12 Investments hekl a5 turrent assets ar market value at 31 Deomber 2022 2022 2021 Cash on deposlt- more than 3 months notice 12 Newark (Nottingham5hlre & Llncolnshlrel Alr Museum Llmlted Notes to the Ac(ounts for the year ended 31 December 2022 13 Creditor5'.amounts fallln8 due wlthth one year 2022 2021 Trade creditor5 Accruals 6,523 11.598 923 11,587 18,121 12,510 14 Credltor5: #mounts falling due after more than onèyèar 2022 2021 Othercre(Iltors-non intsrest bearfng redeemable bond 1,284 1.284 15 Loan5 to trustees in¢luded In debtors The￿ are no loans to trustee5. 16 Guarantees made bythe charlty on behalfoftrustee5 The￿ are no guarantees made bythe chartty on behalf of the trustees. 17 Income and Expendlture accountsummary 2022 2021 At I january 2022 Surplus/lDefititl after tax tor the yeai 666,489 134,CX)81 708,034 141,5451 At 31 December2022 632,481 666,489 18 Related partytr3nsactlons Durlng the year the company used the serwces of Dowrs to Earth Promotions, a bugness operated by Mr Howard Heeley. a trustee. Expendlture in the year amounted to £6,98012021.. £6,756). From Istjanuary 1988 the shop at the museum has been operated by the Newark Air Museum Trading Company mlted. to comply with charity law. All profits of the tradinu company3￿ covenantod to the museum. The shares in the trading eompany are heSd by Mr H Heeley and Mr R Bryan. 19 Ultlmate controltlng partv Every member of the charity Is obli8ed to contributr such amount as may be required not exceeding £ito the assets ol thè company in the event of ti bein8wound up while he or she is a member, or wlthin one year after he or she ceases to be a member. 13 Newark INottinBhamshire & Llncolnshlrel Atr Museum ilmlted Detallèd analysi5 of Income and ￿pendknre forthe yeaT end￿ 31 D￿mber2021 95 requlred byth? SORP 2019 Thls omily515 Is ¢I￿ed bY¢o￿Vent￿M•lnOrnlnOldesufptkn5u￿dn0t by#rtknty ZQ Donatlons and L•gacle5 Ojrrent y#f Currerrtyear Current yQ8r Prlor Year Llrwestrlrted Re5trirt•d fotsl Fund5 Total Funds Funds Funds ZD22 202Z 2022 2021 DOna￿on$ and wfts from indfvkluals Small donation$ Ind￿lduallY ￿sS*han £l.fK)O Legac￿$ Total donadons and gift5 frcm Inthvlduals 11.856 11,856 11,488 11.856 11.856 11,488 Granis recelved 16,465 16.465 67,814 Membershlp 5ubs¢rlptlons 55 donatlijns 9,593 9.593 9,695 Gift ald BIKI covernanted pmffts 32.443 32,443 20.246 Totsl Donati￿5 and Legaa•s 70,357 70,357 109,243 21 Incomefrom Charitab￿ actfv1￿￿T￿din& ArtITthi¢s Current year ￿rEent year OJtTentyoar Unréstrthd Restricted Total Funds FuThJ5 Funds 2022 2022 PTlorYear T￿al Funds 2022 2021 PrÈmary purpD5e and andlLerytradlng Adrnission fee5-E