Charity registration number 272381
Company reglstration num￿1 01279396 IEngland and Wales)
CHILTERN OPEN-AIR MUSEUM LIMITED
ANNUAL REPORT AND GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

CHILTERN OPEN-AIR MUSEUM LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trnstees
V K S Clark (Chairman)
N R Goulder
R J Levine
A L Martin
P Phillip$
C Whipp
L V CannoTTr
SJESalem
C Claxton-slevens
J Mulholland
S Fitzpatrick
C Walsh
(Appointed 20 March 20231
(Appointed 20 March 20231
{Resigned 31 O¢tober 20221
{Resigned 31 October 20221
(Resigned 31 October 20221
(Resigned 31 October 20221
Secretary
VKSClark
Charity number
272381
Company numbgr
01279396
Patron$
LionelAnthony Esq.
Countess Howe
Erits Knowlc-
Registered office
Newland Park
Gorelands Lane
Chalfonl Sl Giles
Buckinghamshire
HP8 4AB
Auditor
Azets Audit Services
Suite5 B & D
Bumham Yard
Beaconsfield
Buckinohamshire
HP9 2JH
Bankers
Barclays Bank plc
CAF Bank
COIF Chaiity Fund

CHILTERN OPEN-AIR MUSEUM LIMITED
CONTENTS
Pag*
Chairman's statement
Trustees. report
Slalement of trustee5' responsibilEties
Indepenrlent audilorfs ieport
10-12
Slalemenl of financial activities
13
Balance sheet
14
Slalemenl of c8sh flows
15
Noles to th$ finan¢ial statements
16-30

CHILTERN OPEN-AIR MUSEUM LIMITED
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2023
Ov•NIow
This report is lo pro￿de a summary of the Museum's acliwlies and achievements for the twelve morrths up to 31$1
January 2023. The report also reports on irnportant events after the year end 2nd outlines plans ahead.
Tho Mu6¢vm s¢)von in 2022 wa- 't- fir￿t lull op¢rating p¢riod after thtr pafidcmio with thc r¢introdu¢tion cf rcgular
events combined with the return of school visits in greater numbers, with 8,147 children, compared ￿ 5,730 in
202112. Museum visitor numbers are reported as 32,688 compared to 25,291 in 202112, an excellent 29ty10 9rowth
despite the hottest summer on record for some years whi¢h we believe impa¢ted adversely on V￿sitor number5. The
pattèrn of tspèning ol only four days a week outside Buckinghamshire School holidays and seven days a week
duiing the Easter and summer holidays and summer and aL*tumn half terms ha5 continued, since the pandemic.
The Museum reported a defiat before depreciation of £45,775 la deficit of £80,489 aftèr Depreciation), whilst OUT
Enterprises ietail subsidiary m8de an overall loss of £3.041. This was att￿buted rn0511y lo the higher staff costs of
¢alering with both the lea room and the snack bam open In the school holidays. A review of sile catering to improve
quality and perfomiance was successfully implemented in time lor the 2023124 Season. The Museum retail shop
(Blythe Road) had a change of manager, who slarted in March 2022.
Museum in¢ome w88 3$ vsual made up of uisilor inwme, personal donations, gian15. 5UPPOrt from the Friends of
the Museum, education, filming contracts and legacAes.
Buildingsl Site
The Buildings team was le(1 by John Hydè Trutch until he rètirèd in April 2022 after more than forty years woikn'ng al
the Museum and Luciu5 Ford has ni)w stepped up to take that position. I want to thank John for the enormous
Gonlribution he made to ltte Mu5eutn. MuGh of the last year was 5peni cleailng the rear of the srte beyond Ihe PUDIIC
areas, but work also continued on building maintenance and the completion ol a building.
The Bledlow C8ttle Shelter has been a long rebuild and re-erection project foi Ihe Suriday volunteer team during the
pandemic and was completed in earfy 2023 and is now in operational use by the fami volunteers.
The new robust outdoor learning structure was erected in summer 2022 in the Upper Meso area. bul awaits
thatching which will take place in 2 years, time once the thatching rnalerial has been soijrcèd 8nd the Ihalcher is
available. This was funded by the Rothschild Foundation. Meanwhile the slrueture is usable, however with a
tarpaulin as 8 roof covering.
It has been identffied that significant work lincluding repairs to the brickwork and mortar) n8eds to be carried out on
the Toll House, which has been Closed lo the public for the 2023 summer season lo allow volunteers to tackle it.
For the E5tale team lambing took place in spring 2022 with a fine crop of larnbs which were 501d lo a local farmèr.
The lambing fold has had to be rebuilt Wbth grant funding and has been relocated in the arable field ready for 2023.
There was a continuation of hedgelaying along the boLJndary between Skippings and Grays fields and the
rtrplacement of fèncing continuès unabated, as wèll as mowing and hedge Cutting arTrd keepin9 P8lhs open. We
have also been assisted by outside volunteer groups who h8ve come lo hedgelay and clear the hidden meadow.
Avian Bird Flu has continued to be a Iirlliting lactor for much of the year.
The Museum has not escaped unscathed from the national and welkreported concern about ash dieback and the
estate team has been undertaking a lol ol work in the woodland areas of the site and education areas lo make trees
safe or felling them. We expect this work to continue for a number of years.
The Museum gardens continue to be well-tended and enjoyed by visitors and volunteers alike.

CHILTERN OPEN-AIR MUSEUM LIMITED
CHAIRMAN'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY2023
Wi8ltor S*rvi¢e$
The season opened with a Living History Festival in April and the retuming reonactment groups were pleased lo be
back in costume. Gladiators came at the end of May and the subseqL5ent celebrations lor the Queen's Platinum
Jubilcc wcrc 1950￿ In pCDO￿ with VI￿lting Toyalty look£Jlikc- & tc& pthrty for TCTh¥idcnt- from two local carc homca and
dancing and singing outside in the sunshine. In the summer we had an evening of opera and were Èntertained by
the various musical contribulions by the Bucks Music Tiusl in July and a vèry successful two-day ¢lassic vehicle
show. August weekends weie full of wartike Vikings. Wellingtons Army. VVW1 Re-enaclots and jousting all in the
baking Sun.
Autumn brought Rural LifelHarvesl and Wild aboLJt Wool followed by a very well supported tradition81 Christmas
event in èarfy December. Thère was again an evening ol carnpfire stories from a nijmber ol cultural and minority
comrnunilies in Buckingh8rnshife. The planned Halloween evening event was withdrawn owing lo external issues
which impacted on the anlicipaled visitor income. The staff redesigned il as a daytime only event and the Museum
ran it for three days over the weekend.
The social prescribing 8nd awmpanied walks prograrnrne has continued lo develop with 290 visrtors in this season
(up frorn 116 in 2021121. The e5COrts are an ever expanding nurnber of volunteers frorn varied backgrounds within
Ihe Museum, which gives (he visitor a unique insight into the Museum during their visrt. The programme has boen
supported financially by various local trusts over 3 years. It is being expanded to indude young adU￿S with autism
involving schools and other community groups. The Museum was very proud lo receive the NalionalAward for Best
Local Social Precribing P¥oiecl in eady 2022.
The new playground, buill in the early summer and opened in August 2022, has engendered very good leedback.
The Houses Inhabited project coTrlinues with costume making by a number of volunteers on site during opening
hours and other volunteers wearing the costumes in the houses.
Filming and Weddrngs
A lew weddings took place in the 2022 summer. It has been decided going forward that smaller daytme gatherings
are more suited to the site.
Horiiblè Historie5 retumed in the summèr and filming of a historical dram8 took place over seven day5 in November,
both of which provided some much needed revenue. The lattei a150 alloweLt a huge maiquee to be Ltsed for the
Christrnas weekend.
Edu¢ation
More schools have relurried lo the site. However. we have suffered occasional Short notice cancellations in the
afterrnalh of Coirid. Rising fuel and coach costs and the cost of living squeeze on schools and parenls are having an
adverse impact on visits. There have also been a number of personnel changes in the Education team ¥thi¢h has
led to a restriction on the number of workshops being delivered concurrenuy. Once there is a full-time permaneDI
member of stsff leading the team the programme Can be expanded.
Terrifie Tuesdays contlnue lo entertain chlldren, grandparents and parents throughout the hollday pèriods. They
cleady attract higher visitor numbers than ordinary weekdays. These have been splendidly supported all year by the
Dactsrum Pott$rs Guild, who hava regulady proviised an adivity lor th¢ childrèn.
Adult Edu¢ation was back in the diary and induded willow weaving, baking, bla¢ksmilhing and straw plaiting.
Fundraising
The Museum Fundraiser has continued to source grants and funds to continue the social prescribing work and Msils
lo the Museum, as well as for capital items. We are very grateful to the following trusts for their support this financial
year." the King I Cullitnvre Chaiilable Trust. Horn Hill Village Trust, National Lottery Community Foundation, Heart ot
Buck5 and DEFRA.
Many indivadual private donations and support of varying amounts were recewed duTin9 the year.
LegacAes received in the year were £121,50012022 - £111,000).

CHILTERN OPEN-AIR MUSEUM LIMITED
CHAIRMAN'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY2023
Marketing
We continue to use social media and other fom)s of advertising to attract audiences.
Vi*itnr niimhg.rg wg.rp. rp.A.4nnahlA hA￿.rt nn thp niimhp.r nf npgning Althniioh rJp.Arfy il h9.r￿m9 trkl hnt in thp.
summer months lor people lo visit. More than four hundred dogs visited in 2022.
Communication with the volunteers at)d Museum community was undertaken Ihrough Instsgram. Twitter, Facebook
and regular emails giving updates lo engage people's interest.
Interprelalion around that sile has been receiving attention and it has been improved lo provide a more c￿Ordinated
presentation style.
Future Plans and Aims
A Strategic review of the Museum for the next ten years ha5 been launched aimed al..
Improving financi31 resilience,.
Developing visitor offer.,
Learning Programme recovèry and development",
New Site development plan., and.
Improve environmental suslainabilty.
Chairman's summary
The Board has mel bi-monthly in person and on zoom over the last year. Four Iruslee5 have Stepped down in the
last ￿e1ve months and a recruitment drive is underway to attract new people. To date, tsyo have been appointed to
the Board, and we hope that another two will have been coopted and join al Ihe AGM.
l arn pleased to say that the transfer of the freehold of the sile has tsken pla￿ in April 2023 wi¢h the gifting of a
further tr40 acres of land, alongside the grant ol a 10 year lease on the laiger part of Greys Field. The unparalleled
support from many local people and entities to finalise the transfer of the freehold ha5 been hugely appreciated.
We are now unde¥going 8 stialegic consullanty period to look at defining the course of the Museum for thtr next ten
yeais and beyond. in conjundioll with some consultants. Financial slabilily 1$ key to the ongoing security of the
Museurn, now that the sile is secure. This consultation is involwng stskeholders. Staff. Iruslees, volunteers. Vlsltors
and non-visilor5. 1 am sure this will lead to a very exciting future ahead and many new opportunities,
The Museum had its Museum ACc￿d￿atiOn reconfimed in May 2022, which was a lot of hard work for many staff.
May I lake this opportunity lo thank very Sincerely my fellow ttuslèes. Museum staff, volunteers, education
interpreters and 5UPPOrters who remain loyal through difficult and uncertain lirnes and have contributed so much
over the last few years. We certainly would not be where we are bul for you all.
l am looking forward lo 2023124 and beyond and a deffined strategic direction with Ihe focus on a sustainable
operating model.
VKSClark
Chairnian
Date..

CHILTERN OPEN-AIR MUSEUM LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 JANUARY 2023
The Injstees present thèir arinual ieport and grtrup financial slalemenls for the year ended 31 J8nu8ry 2023.
The financial statements have been prepared in accordance with the accounting policies set oui in note 1 to the
financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act
2006 and "Accounting and Reporting fly Gttarities.. btatement of Recommended Practice applicable to charities
preparing their accounts in accordan￿ with the Finanaal Reporting Standard applicable in the UK and R￿p￿bE1C of
Ireland IFRS 1021" (effective 7 January 2019}.
Objectlves and activities
The Chillern Open Air Museurn's vision, mission and strategic objectives reflect the full 5ignrficance of the Museum
and it5 collection5. which are rooted in its Chillern identity. The Museurn grew out of pressure in the 1970s within the
Chiltern Society to ensure that the culture. traditions and heritage of the Chilterns were preserved. Over forty yeaTS
on, the Musèum has accumulated a wide range ol material buildings and artel8¢ts - that hold stories attesting lo
the national and intemalional significance of the Chillein5 both historically and today.
The objecls of Ihe charitable company, are..
1. to establish and maintain museumlsl andlor archivelsl lor the benefit of the public, and in pursuit ol that object."
collect and p￿SerVe artefacts and archives including historic buildings, structures and parts
thereof that are of architectural and historic interest, relating to the ChiKems and surrounding
afea to a pvblished poli¢y".
manage, document. conserve and safeguard the Museum collections and holdings 10
appropriate professional standards",
È%hilJil. inlprprèl and prtswd& atcÈ8s to thp Mijspum colloction8 and holding8,
research, promote and publish studies of the Chiherns and $urrounding area, including rts
vemacular buildings and building lechnique5'.
rese8r¢h, manage and prestrrve the skills. crafts, traditions and social history of the Chillern5',
2. to advance education by pioviding engaging expenences and learning gPPOrtunilies lor the public, telling the
history of the Ghillem5 Ihiough the historic buildings. Chillems landscape5 and the people of the area.
The Museurn's rnis5ion statement IS..
To tell the story of the unique heritage of the Chilterns through buildings, landscapes and culture for the enjoymernl,
inspiration and learnin9 of piesent and future communities.
And the Museum operates Wbth the following values..
Learning. Preservation and InspiratK)n.
To deliver these objecb'ves, mission and values, the Chillern Open Air Museum employed staff and volunteers
during the year in support of the charitable mission to operate an open air museum and tell the story of the heritage
of the Chillerns. Staff worked aCfOS$ 3 wid6 r8nge of a¢tivilies indudtng visitor seNices, Interp￿tation. curating the
gllections, 5¢hool vis118, adult education and special events.
Frlènds of the Chlltèm Open Alr Musoum
The Friends of the Chiltern Open Air Museum is a separate charity which supports the Museum by fundraisin9 and
in other ways. The Museum remains very grateftil lo the Friends of the Chillern Open Air Museum for its unstinting
efforts lo support and promote the Museum.
Public benefit
The trustees have paid due regard lo the Charity Commission guidance on public benefit. and our charitable objects
and aims in deciding what activities the Museum should undertake. In line with Charity Commission guidance, the
Chairman's Statement outlines details of visitor numbers, publicity and general access lo the collection of thirty-
seven vernacular historic buildings that have been saved for the public and future generations. In addrtion, the
Chairman's Statement also outlines the wide ranging activities carried out by the Museum and through our volunteer
schemes. The Trustees ol the Museum have given careful consideration to the accessibility of the Museum. lo serve
all members ol the community including those on low incomes or fr)r whom access to our site may be problernalic.
The Museum seèks funding on a regular basis to subsidise admission lees for groups who would otherwise find it
diffi¢ull lo visiL

CHILTERN OPEN-AIR MUSEUM LIMITED
TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY2023
Achlèvèm•nts and pèrformancè
Financial review
A detailed review for the year can be found on the Sialernenl of Financial Activities and the related notes, as the
Charity re-opened from the Covkd pandemic.
The Group's total funds decreased by £83,530 during the year ended 3151 January 2023, compared with an
increase of £88.728 the previous year. Year-on-year income growth of £130,478 was offset by increased
expenditure of £302,736 rnainly duè lo inGièased slaff costs las a result ol statutory and non-statutory pay
increasesl, irrectsverable VAT and professional fees.
The general unrestricted funds of the group decreased from £275,116 to £187,920. a decrease of £87,196,
exdursing the revaluation reserve and the designated funds. The revaluation reserve remains at £3,322,491.
Designated funds increasèd by £3,866 to £484,821. The unrestricted funds of the group (including the revaluation
reSe￿e 8nd designaled fundsl are represented by £1,216.319 of fixed assets. £2,238,739 of heritage assets and
£540.174 of net current a55ets.
Restricted funds decreased by £200 to £238,586. The Board will continue to follow a praclice Ihal all major new
projects must be pre-financed by grants, awards andlor speafic donations. The group seeks to achieve a level of
flee ie5erves which would ¢ovei 811 liabilities. induding the potential cost of winding up the group il such
circumstances were applicable.
The trustees believe that an adequate level of free reserves is be￿een £100.000 and £150.(X)O. The trustees
continue to work with the staff and funding bodies to build free resetves by imDrowng the Drofitabilitv of the srte with
resilient and Profitable income streams.
Plans for the use of designated funds are govemed by the plans for the Museum. Other factor5 such as the volume
of work and limitations imposed by the resources available al the lime will influence the schedule of expenditure
being incurred on particular projects. Restricted funds are employed on speafic projects. Please refer to note 15 for
details of the various restricted funds.
Investmènt Strategy
11 is the policy of the trustees to use any surplus funds for the advancement ol the group's objectwes. Our
investment strategy Is very ¢onservative and surplus monies are placed in easily accessible high interest deposit
accounts with COIF Charities Investment Fund and thé Charititrs Aid Foundation bank ICAF Bank). No stock
exchange investments are maintained. The Board ￿meW$ the Museum's investment policy on a periodic basis.
Rlsk Managemènt
The Board is awarè of ils responsibilities. With the assistance of the Museum Director, the paid staff and
Pfofessional adwsers, the Boaid continues to monitor the major risks to which the Museum is, or may be. exposed.
Any current matters are bToughl lo the notice of the Board of Management at its bi-monthly meetings, unless it is
deerned of such irnportance that all Iru51ees should be alerted by elèctronic means in a mtsre timely npnnÈr. The
Museum Director 2nd th8 Trustees have constructed a Risk Matrix for thè Museum's operations.
Our Peoplè
managed..
Processe5- inadequate or failed interrial proces89S",
Systems- inadequalely designed or m8intaFned systèms., and.
Assets- risks of darnage, misappropriation or theft of the Museum's tangible and intsngible assets.
risks arisiny from an inappropriate level of stafflvolunteers inadequately skilled, trained or
External risk is defined as the risks affecting the Museum in the following four m8in areas".
Economic-risk of recession or adverse economic policy affecting the Mu3eum'5 income or operations.,
Business -competitor activity, supplier unreliability.,
Environment 4isks arising due lo demographic, cultural or environmental change., and,
Political -nsks caused by political unresl or uncertainty.. extremists, and non-compliance withlchanges to
C￿r￿nt regulation.

CHILTERN OPEN-AIR MUSEUM LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
Risks also include the potential or actual impact on the Museum's reputation arising from ils acthlities or condu¢t of
$taff and volunteers.
Risk management is achieved through monitoring the group s exposure in all these areas using a diverse range of
qualitative and quantytslive techniquès. These are reported to the Board as detailed above lo allow the Trustees and
Managernenl team lo lake 8ny adion required in a timely manner.
Al the year-end, the lop risk is that the current business plan is not fit for the CLtrrenl marketplace. Other risks are
the continued impact of higher inflation, which erodes visitor income and increases the Museum's cost b8se',
¢ontinued conffii¢l in the Ukraine putting prèssure on energy and fotsd prices,. and. the ¢onl&nued impact of structura5
ch8ngè$ ansing from Brexit and the Covid pandernic and their eflecl on supply chains 8nd prws.
Our risk management strategy in respect ol these macrokneconomic L¢ncertainlies is..
1. To continue to invèst our facilities and in our Education, Events and Publicity departmènts in order to ensure
we continue lo attract high numbers of wsilois".
2. To tn3na9e our cash-flow carefully by monitoring the liming of supplier paymerils and smoothin9 Outcash spend
as much as practicable.,
3. To explore investing aclivilies thal would safeguard the value of the Museum's liquid assets without compromising
its principles and values.,
4. To continue lo develop and renew the Museum's growth strategy while ensunng that the Museum is a8 a￿￿SSIble
85 P05sible in order lo attract and glow Ils audiences.
At yFar end, the main risk6 faGin9 the organifyation (noted abo￿) are detailed in thp lable below.
COAM Nature of Risk
Pool weather affecting events and
holiday VIS￿ting- loss ol income
Landlord
building
programme
adIa￿nI lo Museum disrupts the
visitor experience.
Int￿aSed UK Inflation and the risk
of a recession reducing the amount
of mone
visitors have lo s
end
Prolonged freehold sile transfe
negotiations with our Landlord
provides uncertainty to future
Catego
External
COAM Risk Management Strateyy
Budgeting takes account of peaks and Irou9hs in
income generation due to weather changes.
Maintain good relationship with landlord and good
communication channels plus Insurance for some
disruption risks.
Review our strategy and marketing plans lo ensur
e offer good value for money lo visitors.
Extemal
Extemal, Intemal
Ssels
Operational
Finanaal
e transfer of the freehold was successfully
negotiated in April 2023.
Lack of fil between Ihe Museum's
business plan and the current
marketplace
External. Inlemal
Bu51ness. Strategic
A Museum-wide Slr8legi¢ Review wrnmenced i
May 2023.
Plans for future periods
The Chairman's report and the Reserves statement include details of plans for the charity in lulure periods.
Structure, governance and management
Chiltern OpeD-Air Museum Limited is a company limited by guarantee. No. 01279396, and a rgJislered charity, No.
272381. 11 is govemed by rts Memorandum and Article5 ofA550ci31ion.

CHILTERN OPEN-AIR MUSEUM LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED
FOR THE YEAR ENDED 31 JANUARY2023
The trustees, who are also the direetors for the purpose of ¢ompany law, and who served during the year and up to
the dale of signature of tho financial slalemenls were".
V K S Clark Ichaimianl
N R Goulder
R J Levine
A L Martin
P Phillips
C Wthipp
L V Cannon
SJESalem
J Mulholland
C C18Xton-Stevens
S Fitzpalti¢k
C Walsh
(Appointed 20 March 20231
(Appointed 20 March 20231
(Resigned 31 October 20221
IRe51gned 31 October 20221
IRe5igNed 31 October 20221
(Resigned 31 October 20221
The voluntary Board of Management rnanages the activities of the group. Its members (who are directors lor the
purposes of company law and trustees for the purposes of charity lawl receive no remuneration. Coopted members
can be appointed by the Board until the nexl Annual General Meeting when they are eligible for election. At every
Annual Gèneral Me&ting one third of the members of the Board of Managemènt retiré by rotation and are eligible foi
re-election. The number ol members of the Board shall not be less than five noi more than fifteen. The Board ol
Managetnenl notrn311y tneet5 bl-tnonlhly to con510er all a5pecis of the rnanagement of the charltable cofflpany. A
finance sub-committee, which comprises the Treasurer, two Trustees, the Director of the mUse￿m and the Fin8nce
Officei usually meets every other month. The committèè feports back to thè Board ol Trustéès and its minutes are
circulaled lo all ITuslees.
All newlprospeclive trustees are interwewed by the Chaimian and other Trustees. and references are taken up
before eledion. Current Trustees vote to appoint a new trustee.
There is an induction progiamme for new Iru$lees/dire¢tors. Companiès House and the Charily Commission
provide usèful documents orn the responsibilitie5 of a Company Director andlor Trustee and thése 8re provided lo all
new Iruslees. They meet with the ChairTllan and Museum Director for an introduction to the group and a site visit,
observe a Board meeting prior lo appoinlmenl, and receive a copy of the accounts and recent Board papers. 11
existing trustees require additional training, a programme is developed lo meet their specific needs.
The Museum Dire¢tor controls the day-lts-day operations ol the Museum with 8 $18ff roll as al 31 sl January 2023 of
11.1 full-lime equivalenls12022, 13,51. There is a pool of around 34 ca$ual slaff12022. 26 ca5U81 slaffj on zero hour
contracts, who are not included in these numbers. Planning and organi58tion of the Museum operations is
discussed with the senior management team at regular meetings held monthly throughout the year. The Museum
has fv40 Board SU￿cOmmittee groups.. Finance and Marketing & Fundraising, which meets regularty to discuss thè
development of income streams. Staff are encouraged to undergo tiaining eilher by attending ￿LI[Se￿ being run al
the Museum oi delivered exteinally for the purposes of Continued Professional Development ICPDI.
All volunteers operate under the direction of the Museur>7, usually woiking for a member of staff. AJI new volunteers
receive induction training following an initial interview. There is also an ongoing training programm& for all
volunteers, delivered by the Museum staff, as well as by volunteer extemal consultants.

CHILTERN OPEN-AIR MUSEUM LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED}
FOR THE YEAR ENDED 31 JANUARY2023
Disclosure of infom7ation to auditor
Each of the trustees has confirmed that there is no inlorrnation of which they are aware which is ielevanl lo the
audit. but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to
idenb'ty such relevant information and to establish thal the auditor is aware of such informalion.
The trustees. report was approved by the Board of Trustees.
V K S Clark (Chairman)
Trustee
Dale".

CHILTERN OPEN-AIR MUSEUM LIMITED
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 JANUARY2023
The trustees, who are also the director5 of Chillern OpeTrAir Museum Limited for the purpose ol cornpany law, are
iesponsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and
United Kingdom Accounting Standards (United lfjngdom Generally Ac¢epled A¢¢ounting Pra¢li¢el.
Company Law requires the trustees lo prepare financial statements for each financial year which give a true and fair
view of the slate ol affairs of the group and of the incoming resources and appli¢alion of iesources, including the
income and expenditure, of the charitable wmpany for that year.
In preparing these frnancial stslements, the Iruslees are required to..
select suitable accounting polictes and then apply them consistently".
tsbserve the melh¢d$ and prineiplè$ in the Charities SORP.,
rnake judgemen15 and eslirnales that are reasonable and prudent., and
prepare the financial statements on the going ¢on¢em basis unless it is inappropriate to presume that the group
will continue in operation.
The trustees 8re responsible for keeping adequate accounting records that disclose with reasonable a￿VracY al
any time the finanaal posrtion of the group and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the group and hence for laking
reasonable steps for the prevention and deteetion of fraud and other iriegularilies.

CHILTERN OPEN-AIR MUSEUM LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF CHILTERN OPEN-AIR MUSEUM LIMITED
Oplnion
We have audited the finan¢ial stalemènls of Chi￿eM Qpen-Air Museum Limited and irs subsidiary Ithe 'group'l for
the year ended 31 January 2023 which ¢ompri5e the group staternenl ol finanaal statements. the group and charity
balan￿ sheets. the group cashflow staterrent, and notes, including significanl accounting policies. The financial
i¥yuiliiiy Iidiii¥wuik Ilidl lidb bts¥ii dpyli¥d iii Ili¥ii Pi¥V<4ldlivii its 44pplibdtsltt Idw diid Uiiil¥U Killy￿U[TI ALwunling
Standards, including Financial Reporting Standard 102 The Fin&nGi81 Reporting Sl&ndard applicable in the UK and
Republic of Ireland (United Kingdom GeneraltyAccepted Accounting Practi￿).
In our opin￿n. the financial statements".
give a true and fair vièw of the slate of thè group and charity'5 affairs a5 at 31 January 2023 and of it5
incoming iesour¢es and application of resources. for the year then ended..
have been properly prepared in accordance with Untted Kingdom Generally Accepted A¢counting Practi￿..
and
have been prepared in a¢¢ord8n¢e with the requirements of the CornpaniesAd 2006.
Basis for oplnion
We Conducteil our audit in accordance with International Standalds on Auditing IUKI IISA5 IUK)) and applicable
law. Our respon5ibililies under those standards are further described in the Auditorfs ￿SponsIbl1111eS for th6 audit ol
the financial sfatemenls section of our report. We are independent of the group in accordance wrth the ethical
requiremenls that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical iesponsibilities in accordance wrth these rèquirèments. We believe
that the audit ewd&n¢e we have obtsined is SuffI￿ent and appropriate lo piovide a basis for our opinion.
Contluslons rèlating to golng ¢oncern
In audiling the financial statements, we have concluded that the trustees. use of the goin9 concem basis of
accounting in the preparation of the finan¢ial $18lements is appropriate.
B8sed on the work we h8ve performed. we have not identthed any rvalerial uncertainties relating lo events or
conditions that, Individually or collectively, rnay cast significant doubl on the group's abilrty to continue as a going
concem for a period of al least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to goin9 concern a￿ descrtbed in the
r¢levanl sections of this report.
other information
The other information comprises the SnfoTmalion indudtsd in the annual report other than the fina￿la1 statements
and our auditor's report Ihereon. The Iru51ees are responsible for the other information contained within the annual
report. OLtr opinion on the financial stalernents does not Gover the other infomialion and. except to the extent
otherwise explicitfy staled in our report. we do not express any form ol assurance condusion thereon. Our
responsibility is to read the other information and, in doing so, consider whether the other information is material
inconsistent with the financial statements or our knowledge obtained in the course of Ihe audit, or othèrwise appears
to be materially misstated. 11 we Identify such rnalerial inconsistencies or apparent material misstatements. we are
required lo determine whether this gives rise to a material rnisstatement in the financial statements themselves. If,
based on the work we have performed, we condude that there is a material missialernent of this other information,
we are requirecS to report that fact.
We have nothing to report in this iegard.
Oplnlons on other mattèrs prè$¢ribÈd by the Compani•$ A¢t 2006
In our opinion, based on the work undertaken in the Course of our audit..
the information given in the trustees, report for the financial year for which the financjal statements are
prepared. which includes the directors, report prepared for the purposes of company law, is consistent with the
financial statements., and
the directors, report included within the Iru51ee5' report bas been prepared in accordance with applicable legal
requiiernenls.
10-

CHILTERN OPEN-AIR MUSEUM LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF CHILTERN OPEN-AIR MUSEUM LIMITED
Matt8rs on whkh we arn r•qu5rèd to rèport by èxception
In the light of the knowledge and understanding of the group and ils environment obtained in the course of the audit,
we have not identrf*ed material misstatements in the directors, report included within the trustees, report.
In the light of the knowledge and understanding of the company and its environment obtained in the course of Ihe
audit. we have not identified material misstatements in the trustees, report. We have nothing to report in respect ol
the following matters in rel?Iion lo which the Companies A¢t 2006 rèquiies us lo report to you if, in our opinion".
adequate a¢¢ovnling le￿r￿S have not been kept, or returns adequate for our audit have not been received
from branche5 not wsiled by us., or
thè financial statèments are not in ayreement with the accounting records and returns,. or
certain disclosures of trusteès, remuneration specified by law are not made,. or
we have not received all Ihe infomialion and explanations we require for our audit; or
the trustees were not entitled to prepare the financial stslemenls in accordance with the 5tDall companies
regime and take advantage of the small companies. exemptions in preparing the trustees, report and from the
requirement to prepare a strategic report.
Responsibllities of trustees
As explained more lully in the slalemenl of trustees, responsibilities. the Iwstees. who a￿ also the directors of the
group for the purpose of company law, are responsible for the preparation of the finan¢ial statements and loi being
satisfied that they give a true and fair view, and for such Internal control as the Iiuslees deletmine is necessary to
enable the preparation of financial statements that are free from material mi55latement, whether due lo fraud or
É*rr(Jr In preparino Ihp finAncial slatomÈnls. the trtsslees are responsible for assessing the group's ability to continije
as a going cOn￿rn. disclosing. as applicable, matters related lo going corlcem 8n¢J using the going ¢oncem basis of
accounting unless the trustees either intend to liqtsidate the charitable company or lo cease opeialions, or have no
realislic alternative but to do so.
A further description of our responsibilities is available on the Financial Reporting Council's website al.. https'.11
.Iro.org.uklaudrtorsresponsibililies. This description forms part of our auditorfs report.

CHILTERN OPEN-AIR MUSEUM LIMITED
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE TRUSTEES OF CHILTERN OPEN-AIR MUSEUM LIMITED
Extent to whlch the audit was consld¢md capablè of d*tè¢tin9 ITr¢gulJritle$. including fraud
Irregularities. Including fraud. are instan¢e5 of non-cornpliance with law5 and regulation5. We design procedures in
line with our ie8ponsibililies, outlined above and on the Financial Reporting Council's website, to delect material
mis51alemenls in respect ol irregularities, including fraud.
We obtsin and update our understanding of the group, its activities, its control environment, and like¢y future
developments, including in relatnn to the legal and regulatory framework applicable and how the entity is complying
with Ihat tramework. Based on this understanding, we identify and assess thg risks ol material misslalement of the
finanaal statements. whether d*Je to fraud or error. design and perfoirn audit pro¢edure5 responsive lo those risks,
aJ)d obtain audit evidènce that 1$ sufficient and appiopriale lo provide a basis for our opinion. This includes
c0115ideralion of the risk of 8c15 by the group that were contrary lo applicable laws and regulalions, induding fraud.
In response to the risk of irregularities and non-complian¢e with law$ and regulations. including fraud, we designed
procedure$ whieh included".
Enquiry ol rnan3gemenl arid those charged with govemance around actual and polenlial litlgation and
dairns as well as actual, suspected and alleged fraud.,
Reviewing minutes of meelings of those charged with govemance",
Assessing the extent ol compliance with the laws and regulations considtt￿d lo have a direct malerwl
effed on the financial statements 01 the operalions of the group through enquiry and inspection.,
Reviewing financial stalernenl disclosures and lesling to supporting documentation lo assess compliance
with applicable laws 8nd regulations.,
Performino audit work over the risk of management bias and override of controls, induding lesling ol
journal gntrig$ and othgr adjustmonts for approprial•ngÈ8, ovalualing thè buGinoGs rationalo of significant
transactions outside the nomial Course of business and Teviewing accounting estimates for indicators ol
potential bia5.
Because of the inherent limitations of an audiL, there is a risk that we will not detect all irregularities. including those
leading to a material misstatement in the financial slalements or nDn-complian¢e wrth regulation. This risk
increases the more that compliance with a law 01 regulation 15 removed frorn the events and Iran5aclions reflected
in the fin8ncial slalemenls, as we will be less likely lo become aware of instances of nortrcompliance. The risk ol
not deleoting a material mi5slatemenl resulting from fraud is higher than for one resulting trom error. as fraud may
involve collusion, forgery. intentional omissions, misrepresentations, or the override of internal control.
Use of our rèport
This report is made solely to the charilable company's members, as a body, in accordance with Chapter 3 01 Part 16
ol the Companies Act 2006. Our audit work has been undertaken $0 that we might slate to the oharrt3ile cornpanls
mÉmbèis those rnatters we arè required to slate to them tn an auditors, report 8nd for no other purpc6e. To the
fullest extent permitted by law, we do not accept 01 assume respon51bility lo anyone other than the charitable
company and the charitable company's rnembers as a body, for our audit work, for this report, or for the opinions we
have formed.
¢hrlstoph¢r Ni$b¢t BAIHonsl FCA IS*nlor Statutory Auditor)
For and on behalf of Azets Audlt SeNlces
0810812023
Chartèrèd Aetountsnts
ststutory Auditor
Suite5 B & D
Buinhatll Yard
Beaconsfield
Bucks
United Kingdon
HP9 2JH
12_

CHILTERN OPEN-AIR MUSEUM LIMITED
GROUP STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JANUARY2023
Unre$tri¢ted Re$tri¢t¢d
funds
funds
2023
2023
Totsl Unr*$trictsd Re$tri¢tsd
funds
funds
2022
2022
Total
2022
2022
Notès
Donations and legacies
Charitable activities
Other Ir8ding activilies
Investments
195,829
338,835
256.893
5,779
99,976
{1,8431
7,284
295,805
336,992
264.177
5.779
245,163
218,547
218.639
213
91.873
{4,1011
1.941
337,036
214,446
220.580
213
Total income
797,336
105,417
902,753
682,562
89,713
772,275
Charitable acts"vilies
884.598
101,685
98fj,283
506,904
176,643
683,547
Net loutgoing)lincoming
resources before transfers
187,2621
3.732
{83.5301
175.658
186,9301
88.728
rirnqq trAnsfgT4 hptwppn
funds
3,932
{3,932}
Net lexpenditurellincome for
the yearl
Net movement in funds
{83.330}
12001
183.5301
175,658
{86.9301
88,728
Fund balances at l February
2022
4,078,562
238,766 4,317,328 3.902,904
325,696
4,228,600
Fund balances at 31 January
2023
3,995,232
238.566 4.233,798 4,078.582
238,766
4,317,328
The slatement of financial activities inclL*des all gains and losses recognised in the year.
All income and expenditu￿ derive from ¢ontinuin9 act￿ville$.
The statement of financial activities also ￿mplIeS with the requirements for an income and expenditure a¢¢ovnl
undei tho Compani$$ A¢1 2006.
13

CHILTERN OPEN-AIR MUSEUM LIMITED
GROUP AND CHARITY BALANCE SHEETS
AS Af31 JANUARY2023
2023
2022
Group
Charity
Group
Charity
Note¥
Fixèd assets
Tangible assets
Heritage assels
Investsnents
1.349,223
2.238,739
1,348.699
2,238,739
1,228,582
2,255,739
1,227.536
2.255.739
10
11
3,587,962
3,587.440
3.484,321
3.483,277
Current assets
Stocks
Debtors
Cash al b8nk and in hand
12
13
8,857
71,568
659,924
8,660
104,446
834.395
74,886
650,155
104,003
824,905
740.349
725,041
947.501
928,908
Creditors.. amounts falllng due within
one year
14
194,5131
186.7441
1114,494}
1105,9591
Nel current assets
645,836
838,297
833,007
822,949
Total assets less current liabilities
4,233,798
4,225,737
4,317,328
4,306,226
Income funds
Restricted funds
nr
15
238.566
238,566
238,766
238,766
Designated funds
General unrestricted ftinds
Revaluation reserve
16
484.821
187,920
3.322,491
484.821
179,859
3,322.491
480.955
275,116
3.322,491
480,955
264,014
3,322,491
3,995,232
3,987,171
4.078,562
4,067,460
4,233,798
4,225,737
4,317,328
4,306.226
The financial statements were approved by the Trustees on
V K S Clark Ichairmanl
Trustee
Company registration number 01279396
14-

CHILTERN OPEN-AIR MUSEUM LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JANUARY2023
2023
2022
Notes
Ilows fmm Dppratino activities
Cash labsorbed byllgeneTated from
operations
22
{41,3741
21,080
Investing activities
Purchase of tsngible fixed a$5els
Investment income received
1138,8761
5,779
124,5891
213
Net cash used in Investing activities
1133,0971
124.378}
Net cash used in finan¢ing a¢tivitlès
Net decrease in cash and cash equivalents
{174.471}
13,2961
Cash and r¥sh equivalents al beginning of year
834,395
837,691
Cash and cash •quSvalènts at ènd of yèar
659,924
834,395
15-

CHILTERN OPEN-AIR MUSEUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUAR Y 2023
A¢¢ountlny polS¢lt$
Gharity inforniation
Chiltern Open-Air Museurn Limited is a private company limited by guarantee incorporated in England and
Wales. The registered office is Newland Park. Goielands Lane, ChaKonl St Giles, Buckinghamshire, HP8
4AB. United Kingdom.
1.1 Accounting conventlon
The financial staternents have been prepared in accordance with the ¢harills Memor8ndum and Articles of
Association, the Companies Act 2006, FRS 102 "The Finan¢ial Rèporting Standard applioable In the UK and
Republic of Ireland. I"FRS 102.1 and the Charities SORP 'Accounling 3nd Reporting by Charities.. Slatement
¢1 Recommended Practice applicable lo charities preparing their accounts in accordance with the Finan¢i81
Reportsng Standard applicable in the UK and Republic of Ireland IFRS 102}" (effective 1 January 20191. The
charity is a Public Benefit Entity as defined by FRS 102.
The finanaal stslemenls are Pfep8red m sleiling. which is the functional c¢Jrrency of the group. Monetary
amounts in these financial Statements are rounded lo the nearest £.
The financial statèments have been prepared under the historical Cost ￿nVention. modified lo include the
revaluation of ¢ertain fixed assets al fair value. The princip31 accounting policie5 adopted are sel out below.
1.2 Going concern
At the time of approving the financial siatements, the Lrusteès have a rÉasonable expectation that the group
has adequate resources to continue in operational existence for the foreseeable future. Thus the trLBlees
continue lo adopt the going wncein basis of accounting in preparing the financial slalements.
1.3 Charftsbl6 fund$
Unrestricted funds are available for use at the discretion of the trustees in further8n¢e of their charitable
objectives.
Designated funds comprise funds which have beon sel aside at the dis¢r?l*on of the Iiuslees for specific
Purposes. The purposes and uses of the designated funds are sel out in the note5 to the fir)ancial ststements.
Restricted funds are subject lo specth¢ ￿ndItiOnS by donors as to how they may be used. The purposes and
uses ol the restricted funds are sel out in the notes lo the financial slatemenls.
1.4 Ineomè
Income is recognised when the group is legally entitled to it aftai any pèrfoman¢& condition5 have been met,
the amounts can be measured reliabty, and il is probable that in¢ome wll be received.
Cash dtsnations are ¥ecogni5ed on receipt. Other donations are recognised once the group has been notified
of the donation. ynless performance conditions require deferral of the arnount. Income tax recoverablè in
relation lo donations received under Gift Aid or deeds of covenant is recognised at the time ol the donation.
Le98￿&S are recognised on receipt or otherwise It the group h88 been notrf¢ed of an impending distribution,
the arnount is known, and receipt is expected. If the amount is not known. the legacy is treated as a
contingent asset.
1.5 Expèndtturè
Expenditure is recognised On￿ there is a legal or constructive obligation lo Iransler economi¢ benerrt to a
third party, il is probable that a transfer ol economic benefits will be iequiied in settlément, and the amounl of
the obligation can be measured reliably.
16-

CHILTERN OPEN-AIR MUSEUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY2023
Accounting policies
(Contlnuèdl
1.6 Tangible fixed a$sets
Tèn9ible fixed assets are initially measured at Gotst and tsubsequently measured at cost or valuation. net of
depreciation and any impairment losses. Items costing less than £1,500 and gifts in kind of assets valued by
the Board at less than £1,500 are not capitalised.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over th￿r
useful liv$s on the following bases".
Administr81ive Buildings & Museum
Plant and equipment
Bio109ical assets
Not depiecialed
20-25 /0 reducing balance & 10QA straight line
Not depreciated
The gain or loss arising on the disposal of an asset is detemiined as the drfference between the sale pro¢eeds
and the carrying value of the asset. and is recognised in the statement ol financial activities.
1.7 H•rits9• assèts
Heritage assets are professionally revalued every five years for insurance purposes and their value lor these
accounts are based on this valuation adjusted where appropriate for impairment losses. Gains and lo&%es on
revaluation ale recognisÈd in the statemènt of total rÈco9nisÈd gains and ltsssès. Heritage assets ai4uiied or
constructed between professional valuations are induded in the accounts at cost. The trustees do not
consider il appropriate lo charge depreciation in respect of Heritage Assets since these are deemed to have
indeterminate INes.
1.8 ImpaSmi•nt of fixèd assets
At each reporting end dale, the group reviews the carrying amounts of ils tangible assets to determine
whether there is any indication that those assets have suffered an impaim)ent loss. 11 any such indtalion
exists, the re(x)verable amount of the asset is estimated in order lo delerrnine the exlenl of the impairment
1055 lif 8nyl.
1.9 Sto¢k$
Slo¢ks are stsled at the lowor ol cost and estimated sellin9 price lè$s costs lo complgte and sell.
Nel realisable value is the estimated sèlling pri¢& less all gslimatgd ￿$ts of ￿mpletIon and costs lo be
incurred in marketing, selling and distribution.
1.10 cash and cash equivalents
Cash and cash equivalents indudè cash In hand. dèpts51ts held at call with banks. othei shtsrt-temi liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.11 Flnancial instrumènts
The group has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial InstrLimenls Issues. ol FRS 102 to all of its financial instruments.
Financial instruments are reeognised in the group's balance sheet when the group becomes party lo the
contractual provisions ol the instrument.
Financial assets and liabilMie$ are offset. with the net amounts presented in the financial stalemenls. when
Iheie is a legally enforceable iighl lo sel off the ieco9nised arrounls and there Is an intention lo settle on a net
basts or to realise the 8ssel and settle the liability simultaneousty.
17

CHILTERN OPEN-AIR MUSEUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUAR Y 2023
Accounting policies
(Continued)
Basic financial assets
Basic finantial assets. which include debtc>rs and cash and bank balances. are initially mèA%urÈd at
transaction pri￿ including transaction costs and are subsequently carried al 8mortised cost using the effective
interest rnethod. Financial assets classified as receivable within one year are not amortised.
8asi¢ finan¢i•l liabilitie$
Basic finanu31 liabilities. incltjding crèditors. are initially recognised at transaction.Finanaal liabilities dassified
as payable within one year are not amortised.
Derecognition of financial liabilities
Financial liabilities are deTecognised when the group's contractual obligations expire or are discharged or
cancelled.
1.12 Employee benefits
The cost ol any unused holiday enb'tlèm&nl is ra¢ognised in the pèriod in which the employ8e's services are
receiveLI.
Termination benefrts are recognised immediately as an expense when the group 15 dernonslrably committed to
terminate the employment of an employee or to provide termination benefits.
1.13 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Donations and lègacSÈs
Unrestricted Restricted
funds
fund$
Total Vnreslricted
funds
Re5trKted
funds
Total
2023
2023
2023
2022
2022
2022
Donations and gifts
Grants
191.579
4,250
73,385
26,591
264,964
30,841
179,483
65,680
62,826
29,047
242,309
94,727
195.829
99.976
295,805
245.163
91,873
337,036
18

CHILTERN OPEN-AIR MUSEUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY2023
Charitable activrties
Charitable Charitable
Income
Income
2023
2022
Public admissitsns
Educational services
243.900
93.092
158,723
55,723
336,992
214,446
An8lysSs by fun¢J
un￿striCted funds
Restricted funds
338,83S
{1,843}
218,547
14,1011
336,992
214.446
othor tradln9 actlvltye$
Unrestricted Restricted
funds
funds
Totsl Unreslricled Restricted
fund$
funds
Total
2023
2023
2023
2022
2022
2022
Catering, shop, and
wedding Income
Site access and other
in¢ome
162.187
162,187
123,754
123.754
94.706
7,284
101,990
94,885
1,941
96.826
Other trading activr(ies
256,893
7.284
264,177
218.639
1,941
220,580
Invesknents
Unre$trletsd UrLfeslrJcted
funds
funds
2023
2022
Inte￿￿1 feceiwable
5,779
213
19-

N(ocDts
¢J) ¢% o
¢71 ￿ ¢0
) ro 0)
Lrj N p) ¢D O ¢0
17> Q)
Ln o
¢D fj tr)
Ec

CHILTERN OPEN-AIR MUSEUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY2023
TNsts•$
Norie of the trustees {or any persons connected with them) received any remuneration or benefits from the
group during the year.
Employees
The average monthly number of ernployees during the year was..
2023
Number
2022
Number
37
27
Employm•nt tosts
2023
2022
Wages and salaries
So¢i81 se¢urty costs
Other pension costs
461,098
26,700
7,796
383.806
21.831
6.752
495,594
412,389
These numbers indude permanent staff and casual staff who work seasonally.
The Museum has a pool of casual staff, who work predorninanljy in Education or Catering. The staff costs
pertaining to catering are re-tharged to COAME on a monthly basis.
The key management personnel of the charitable company comprise the 8oard and the Museum Director.
The trustees do not consider il appropriate lo disclose any individual's salary for the purposes of the financial
slalernents.
There were no employees whose annual remuneration was more than £60,000.
21

CHILTERN OPEN-AIR MUSEUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 JANUARY2023
Tan9ible fix*¢l a¥s¢ts
Group and charity
Admlnistrativfr
Bulldlng8 &
Mu$*urn
Plantond
ooulpment
Biotogical
&S8&ts
Total
Cost
At 1 February 2022
Additions
Revaluation
1,176,31
150,782
138.876
2,390
f,329,472
138,876
15001
15001
Al 31 January 2023
1,176,300
289,658
1,890
1,467.848
Depre¢iatlon and Impalmient
Al 1 February 2022
Depreciation charged in the year
100,890
17,735
100,890
17,735
At 31 January 2023
118.625
118,625
Carying amount
Al 31 January 2023
1,176,300
171.033
1.890
1.349,223
Al 31 Jaiiuary 2022
1, 170.300
49.892
2.390
1,220.Ja2
Administrative buildings include the following:
2023
2022
Administrative office building
Mid-site loilets
Toilet lacililies Icaversham & Haveisham}
Blythe Rtsad p8vilio
Slores
Dutch barn
598,500
189,000
182,700
148,500
31,500
26,100
598.500
189,000
182.700
148.500
31.500
26.100
1.176.300
1,176,300
Induded within plant and equipment are assets of the parent charity with a nel book value if £170,509 and
assets of the subsidiary Wlth a net book value of £524.
The A511eh8m Manor Cottage5 and the Blythe Road P8vilion. which 8re both Museum exhibits, are also used
as adrninistrative buildings. The Asueham Manoi Cottages serve as the group s adminislralive Cent￿ and
house the cenlrali5ed security system. The Blythe Road Pavilion serves as the Museum's main entrance
facility and house the shop.
Administrative Buildings and Museum Exhibits were valued in March 2021, by Sedgwick International UK in
accordance with guidance set oirt by the Royal Institution of Chartered Surveyors for Insuranee purposes.
Th$se assèt valuab'on$ will bg rgvigwgd in line wrth insuran¢$ valu*'ons, which ale due lo be ¢airied out al 5
year Intervals.
-22-

CHILTERN OPEN-AIR MUSEUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
10 Heritage assets
Group and charity
Bulldiny$
Art•facts
Total
Al 1 Febwary 2022
Impaiments
2.210,038
117,000)
45,701
2,255,739
117,0001
At 31 January 2023
2,193,038
45,701
2,238,739
Heritage assets were valued in Marth 2021, by Sedgwick International UK in accordance with thè guidance
sel by the Royal Institution ol Chartered Surveyors for insur8nce purposes. These asset valuations will be
reviewed in line with insurance valuations, which are due to be carried out al 5-yeai intervals.
2023
2022
Buildings
Ame15hatn Prefab
Arborfield Barn
Borehamwood
Buildings in Store
Didcol Cart Shed
Elliott's Furniture Factory
Gar51on Forge
Glory Mill Storage Building
Gorhambury Cartshed
Haddenham Coltage
Henley Garage
Henlon Chapel
Hill Farm Bam
Iron Age House
Jackson's Studio
Jenners Pavilion
Leagrave Cottages
Marsworth Buildings
Northolt Barn
Other miscellaneous buildings
Rossway Granary
Shepherds Hut
Skippings Farm Barn
Thame Vicarage Room
Toll House
Well Head Gear
Wing Granary
71.100
81,000
41,400
72.130
58,SOQ
160,700
39,600
96,600
25,500
111,500
4,500
26,100
184,500
90.000
25,008
19,800
142.000
106.000
135.000
298.200
6,600
9.000
158,400
113,400
97,600
7.200
11.700
71,100
81,000
41,400
72,130
58,500
164,700
39.600
98,100
27,000
112,500
4.500
26.100
184,500
90,000
25,008
19,800
144,000
108,000
135,000
298.200
6,600
9.000
158,400
113,400
102.600
7,200
11,700
2.193,038
2.210,038
-23-

CHILTERN OPEN-AIR MUSEUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY2023
10 Htrltsge assets
{con￿n￿ed)
Artefacts
H@nton
1.352
437
5,248
1.431
2,382
7,462
6,937
20,452
1.952
437
5,248
1,431
2,382
7,462
6,937
20.452
Fiack Saw
Fumiture and artefacls in Toll House
Vicarage Roorn artef8¢ts
Prefab artefacts
Leagrave artefacts
The Chesham Collection
Other items
45,701
45,701
2,238,739
2,255,739
11 Fixed asset investments
Fixed asset investments amounting to £212022.. £21 represents the histori¢ ctssl of the charty's investment in
Chimem Open Air Museum Enterprises Limited, the charity's subsidiary undertaking.
Chittern Open Air Museum Enterprises Limrfied oper8les the ¢8lering. gift sales, and wedding faulrties 81 the
Museum. The turnover of the company for the ye8r was £162.188 12022". £123.754}, generating a loss ol
£3,041 12022". profit of £41,164) before distributions under g￿ aid lo Chiltem Open-Air Museum of £nil12022'.
£40.0001. Thè capital and resetv¢s of the company at the balance sheet date were £8,06312022.' £11.1041.
12 Stocks
2023
Group
2023
Charity
2022
Group
2022
Charity
Items for resale
8,857
8,660
13 Debtors
2023
Group
2023
Charity
2022
Group
2022
Charity
Amounts fallSn9 due within one year:
Trade debtors
Amounts owed by subsidiary undertakin9S
Other debtors
Prepayments and accrued income
22,006
22,006
3,318
36.764
12,798
443
36,764
32,798
1.511
1 Q2,492
1.511
102.492
71,568
74.886
104,446 104.003
-24-

CHILTERN OPEN-AIR MUSEUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
14 CrtditorJ- amounts falling due withln one year
2023
Group
2023
Charfty
2022
Group
2022
Charjty
Other taxation and social security
Payments received on account
Trade credrtors
Amounts owed lo Subssdiary undertakings
Ac¢ruals and deferred income
20,5QI
23,984
20,563
19,089
23,713
20,488
7,467
9.338
22,236
5,972
4,930
20,762
47.092
27.203
29.465
23,454
75,453
94,513
86,744
114,494
105,959
-25-

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CHILTERN OPEN-AIR MUSEUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY2023
17 Analysis of net assets between funds
Group
Unrèstricted Rèstrietèd
funds
funds
2023
2023
Totsl Unrestrieted
funds
2022
Restricted
funds
2022
Total
2023
2022
Fund balances al 31
January 2023 are
represented by..
Tangible assets
Heiilage assets
Currtrnl asselsllliabililiesl
1,216,319
2,238.739
540.174
132,904
1,349,223
1,228,582
2,238.739 2,255,739
645,836
594,241
1,228,582
2.255.739
833.007
105.682
238,766
3,995,232
238,566 4,233,798 4,078,562
238,766 4.317,328
18 Operating lease commitments
Al the reporting end dale the group had ovlslanding ¢omrnilmen13 for fijlurè minimum lease payments under
non-cancellable opelating leases, which fall due as foll¢)ws'.
2023
2022
Within one year
Between and five years
2,576
1.941
4,776
3,136
4.517
7.912
19 Ev•nts aft•r the rèportlng dot•
On April 6th 2023 Chiltern Open Air Museum ICOAMI reached agreement ill principle with Asino Ltd, a
subsidiary of Comer Homes Ltd, to acqL*ire the freehold of COAM'S site from Asino Ltd for £1. The transfer
was subsequently completed on 26 April 2023. This transfer was one of the planning conditions Asino Ltd
agreed lo il in ils planning approval for development of Newland Park and included in its section 106
Agreèment with Buckinghamshire County Council dated 4 July 2016. The $106 agreement also Included a
condition that the fieehold Ir8nsfer lo GOAM should includ& a giant lo Asino Ltd Itrènsleiablè for £1 if a trigger
event has occurred) Broadty speaking the triouer events aTe il COAM Is subject to an Insolvency orthe site is
no longer used for the pemitted use as an open air museum.
20 Rèlatsd party transactions
There were no disclosable related party transactions during the year12022- none).
21 Share capltal
Thè chèrty is a eompany limitèd by guarantee and therefore has no share capital. Each member's guarantee
is limited lo £1 whilst they are a member and for ono year after ¢easing to be a member.
-29-

CHILTERN OPEN-AIR MUSEUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY2023
22 Ca$h generatsd from opgratlon$
2023
2022
(DefiotVsurplu5 for the vear
183,5301
88,728
Adjustments for..
Investment income re￿gnISed in $18lemenl of finantyal 8¢tiwlies
Depreciation and imp3irmenl ol tangible fixed assets
15,7791
35,235
{213}
17,7911
Movements in working capilal..
Ilncreaselldecrease in stocks
Decreasellincreasel in debtors
IDecreasellinciease in creditors
{1971
32,878
(19.981}
4,633
1101,4741
37.197
Cash labsorbed byllgenerated from operations
141,374)
21.080
23 AnJty$i$ of ¢h•ngé$ In nèt fund$
The gTOUP had no debt during the year.
-30-