Charity reglslratlon numbor 280061J ROYAL MILITARY POLICE MUSEUM ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ROYAL MILITARY POLICE MUSEUM LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ex4)ffi¢1o: Brfgadisr V W Buck WaTranl Officer (Class 11 J Mlller AGC {RMPI Elect•d'. Colonel S F Boyd David W Evaris VR Jule$ K8nsell-Wooding FHA Tina Kilnan PIA (Dundml Ggoffr8y SalvettTr TO Esqulre Dlr•ctor Fund Manag•r Colonel J T Green OBE IRellrgd} Mslor S E Brooks Curat•r Collectlons Offlc•r Mu4•um A8Bl•tant Mr R J Callaghan BA (Honsl MrA T Brayley Mr8 V A B&ttison Charlty Trumbor 280080 PrlnGlpal addr•ss Rgglmental H8adquarter8, Royal MIl￿Ory Pollce Th6 Old Stgblas, Soulhwlck Hou89 SouthvAck P8rk (Postal Polnl 381 Nr Fareham Hampshlre P017 6EJ Audltor Jones Avèns Llmltgd Piper Hou89 4 Dukes Court Bognor Road Chichèstsr Wesl Suss9X P019 8FX Banker• Barc4ays 8ank plc 74175 East Stro01 Chich8$ler Wesl Sussex P019 1HT COIF Ch8ri1188 Management Ltd COIF Charlty Funds 80 Cheapsldo London EC2V 6DZ Inv•stmont advlsors Barclay's Woallh and Investment Managèment 3CKI Poole Road Boumemouth BH128W ROYAL MILITARY POLICE MUSEUM CONTENTS Page Trustees. report Statamenl of Trustsas. respon$ibllitie8 Independenl eudlloffs report St816rn8nl of flnanclal 8¢Uvlll88 10 Balance shgel Notes lo tho flnanclBI slalemen18 12-22 ROYAL MILITARY POLICE MUSEUM TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The trustees PTesenl their annual report and financsal slatemgnls for the year ended 31 March 2022. The financial 51alements have been prepared In accordance with the a¢¢ounling policies sot out in noie I to the financial staiemenls and Gomply wllh the trust's Dood, the Charillès Act 2011 and 'Accounling and Reporting by ch8rilie8." Statement of Recommended Practice applicable lo charili68 preparing their accounts in accordance with the Flnancial Reporting Standard appllcable in the UK and Republic ol Ir8land IFRS 1021" las an￿nd8¢Y for accounting perlods commencing from 1 January 20191 ObJecllvt8 and a¢tlvttle¥ The Royal Military Police Museum 18 an Unincorporated Charity IRe9lslralion Number 280060) eslabllshed by Ch8rilabl8 Trusl Doed on 29 August 1979 and varied by Schem&s ol the Charlty Commisslon da181130 March 1988. and 4 January 1993, respectively. Tho Ch•rlty l• admlnl$t•rnd from: The Old Stables {Poslal Polnl 381 Soulhwlck Park, Nr., Fai&h8m, Hamp8hlre. P017 6EJ Day-to-day mon8gemant of the Charfty Is vgstod In th8 Museum Dlrecltrr.. Colongl J T Gre8n OBE, Ihg Reglmentsl Secretary. Royal Military Pollog. Oblfrcts ol the Charlty To uphold the tra¢Jllions of the Royal Mllltary Poll¢& I'RMP'I and perpetuatè Its dggds, by en8uTlrg that tho Museum collects, documents. pre$grve8. exhibits, and Interprets material evidence and associated Inf0rn181ion r6latin9 10 tho woildwide a¢￿vItIeS of tha natSon's Military Police and Its antec&d8nts and associated indlviduals in support ol the Unlled Klngdom and Its Interest$ ond lo enable p8ople lo explore the Herttsge Colloctlon for Inspiration, learning, res88r¢h ond enSoymenl. Publ1¢ B•n•fft The Trustees have pald dLse regard to the Charity Commisslon's 'Guida on Public Benefit, In dech8iryJ what a¢llvlli8s th& Charlty undertakes and ensurè that tho RMP Museum collgcts, dixum&nls, preserves and provides acce$8 to malttrtal reloting lo the woddwlde 8cbvllie6 of the nallon's military pollce land Ils antecedenl$l, whlch conlribulos 8nd h89 contributed lo the defence of the n8llon and ils interests. Most importantly. tho Trustees 81s0 ensures that the Museum uses and Interpre18 the material it pr&serv8s for the educatlon and ben8llt ol mèmbers of the Amied For¢os and of the public, of all ages 8nd all background8. Fln8lly. In supportlng the Serving sold18r the RMP Museum Tw8t h95 also contrlbuled directly lo Improving the effocliveness and esprit do cofF6 of the nallon's mllltary polic9. Achl•vgm•nt• And pertorm•nc• Major challeng•$ In common with last year's report. the major challenge facing Ihg Museum has been the COVID-19 Pandemic and ils aftermath. The second natlonal k)ckdown, toggth&r with subsequanl r9Strictions on indc¥)r gatherings, resulted In only a few months of the year when the Museum opèr81gd in anything approachin9 normal r¢umslan¢es. Evèn when restrlctSons were lrfted, th8ro was 8 marked reluctance on Ihg part of the publlc lo resume vislling hèritage slteg. What began as tlny vlsilor nurnb&rs in¢Yg8sed gr8dually, but still fell far short of those Seen up lo December 2019. The valuable additional incom9 $lr98m from providing cuialed D-Day Map Room brSefings a150 saw 8 drarnalc fall, bul with Granl-in-Aid payments malntained, work could continue as well as provide financi81 security for Iht CLtratorio18laff concerned. ROYAL MILITARY POLICE MUSEUM TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Social m•dla pres￿ Wilh the Museum closed lo both the public and Ihe serving ¢ohort for most of the period. mainlainkng a virtual presence became a priorSty. 11 was gratifying to note that the public's expoctatlons had changed, and when unable lo welcome visitors in person. the Musoum endeavored lo offer the same high slandaid of seryice. albeit virtually. Most of those who contacted the Musèum expr0s88d their hope lo be able lo vSsll in person oncè r8slrictiong were lifted and it is somewhat ironic that as curatorial staff were not de81ing with visllors in person, they had tho ts.me 19 delve far deeper Inlo l¢pics of mllltary pollce history than would have prevk)usly bèen possible. The Mu$gum's Facebook p8g8 conllnued to be the maln malhod of Informallon d1ssemlna￿oft, malntalnlng Its upward trend. Wiiltan by all mgmbers LTr1 8taff, the posts coveigd 8 wlde variety of hl8iorlcal lopl¢s and with 5,740 followers 8nd 8 'raach' of 58,500. Posts were also shared wSlh Ihg 1 Military Police Brigade Facebook page lo engender closer tt88 wlih Ihg servlng Soldier and lo keep Museum followers Informed ol RMP actlvSly and the wld&r 'Corps Famlly," whil8 Increaslng the M¢Jsgum's 'r8ach' subslanually. Fa¢8book u88rs, partlcuLarly Ihoso wlth prgvIou8 88rvlce in Ihe RMP, werg 8 constant sour¢8 of Infomiatlon and the digltal orthive continuod to gxpand. StaftSng and volunt••r• Whllg stsfflng 18V91s remalned al Ih08e of 18Bt y8ar'$ report, significant opportunit188 wer8 created by the pandemic and ils aftgmath lo allow the staff an(i volunlaers lo locus on conllnulng lo digilizo and catalogue tho Musgum'8 larg9 pholooraphic or¢hlve, Improvlng $tor8ge ol artilacls nol on d18play. retrDspgctive documentation, ralionalizallon, and a dggper knowledge of material held by the Museurn Tru81, 85 well as lo concentrate on indlvldual areas ol reSea￿h and continued porsonal dèvelopment. Slaft and volunteers also scann8d over 10,000 Items (both photographs and work8 on paperl which h88 resultad in a rnuch more effective way t* US8 and exploSt the Collgdlon partkulady whgn an8werlng anqulres from Ihe publlc. lh& servlng cohort, and 8xlema1 resg8rcheTg. AS the MuJgum'8 volunlgers &￿, on the whol8. of advanced agg, Museum staff were very eon$clous ol Ihèlr vulnerabllilies and as a result, the relum lo the Museum was delayed unlll each ono hBd had Ihalr thlrd dosg of vaccjne. Howèver, ona voluntser was able to ￿ntinUe worklng from home and provldad much-needed material In 8UPPOrt of the Collecllon. Sadly, two volunteerg lell that health Issu&s precluded 8ny future commltmenl, and Ihey Blood down pormanenly. Th8 H15toric V9hlcle Restorallon Group were able lo re$um8 their work when reslricllons werg11ftoJ and plan lor events In Ihe coming year. Work prevSously undertaken on boho11 of Portsmouth Clly Ctsuncil in arnsling tha daterlorallon of 8 25-Pound Fiald Gun was rewarded wllh 8 wèlcome payment 01 £3,000 for use by the group. Mllltary Pollc• g•n•aloglcal data￿•9 The database of forrner m8mbers of the Corps 8nd118 anlecedenls .18 there a Redcap In your familyT remalnod opgrafjonal ￿th offorts focused on remo￿n0 duplicate Information. Lisling tho detalls of 104,045 soldiers who served in Ihe Military Poli¢& between 1813 gnd 1950, the database continued lo attract new users with 356 new feglstralions durfng the period. Feedback continued lo bg posf(ive. wlth many subscrtbers subsequenuy contacting Ihg Museum lo pr￿Ide additional infomialion, photographs and in one inslaneg. the donation of a complete personal archive lo the Museum. The Curator glso contlnued to r88e8r¢h former membèrB of the Mllllary Pollce c4)ncentratlng on th8 perfod covered by Ihe genealogy database, the resvlts'ng material led to two a￿'cleS being published in the RMP Journal., lh• fitst uncovered the stories of a surprising numb8r of Olympic Medal wnners who $8rv6d in the Military Police Corps during the First Worfd War. whilst the second cov&red notablè sports personalities including a World boxing champion 8nd En9land Intemalionals in both Rugby Union on¢J Fotstball. ROYAL MILITARY POLICE MUSEUM TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 New collaboratlons During the period, o ngw harilage forum was created to cover Police Museums and Cdleetions, and the RMP Museum was Invited to join. These bodies are al various Stages of professiDnalisrn, and the Curator w88 able to off8r advice on s8v8ral issues. Historically, the Civil police, particularfy during wartime, provided fnany recruits for the Military Polic&, with many of th8 latt8r joining Ihfr c4vili8n police on thoir discharge or al end of Colour Service and the forum has provided a wonderful opportunity for inlonnalion exchange. Vlsltors With the Museum only open for a very limited numbèr of days, coupjgd wlth additional conslralnls due lo Moo pollcy regarding the site whare il 18 lo¢aled, vislts In person, allhough rising frorn the extrelnely low lavel ol 2020121, wgr& low again when compared lo earller years. The highly popular Southwick vlliago D-Day Revival ovenl In June was also cancelled and th15 event, together wllh other ￿DaY e£bmmemorallons, would nrjrmally account for around 40% of annual Musoum vlslts in pgrson and a welcom8 boosl lo tha R¥glmenlal Shops I, K,1 li 2.1l?'.l j2(}?('i.j LL_ D-Day M•p Room Ylllts Tho D-Day W811 Map continued lo bring visitors to Soulhwick Park. albgil in grgally feduced number3. Towards the end of the Pgflod IhB numb9r of 9roups slart8d lo slowly pick up with military groups Including 42 Engineer Reglment (Geographlcl and 26 Reolmenl Royal Englnèer8 vl8Odno. CivAian groups included English Heritage, the Basingsloke MG 0￿er8 Club, and the 8a¢k Tu@sday c￿b. Pleaslngly, after a 2-year hiatus, slud&nls from George Washington Univorsily In Washlngton DC were orbce more abl¢ lo vlsll. All groups donate to Museum funds for 8 curated vl8I1. Slgnlll¢ant new ttcqulsltlon• The bullish aucllon market for Mllllary Police it8ms conllnu8d with lots invarf8bly surpassing estimates and rgalllng prices beyond the reach of available Museum funds. Eatly pholographs and postcards of the Corps often sell for jav44roptN'ng sums, bul the Collections Offl¢er's uncanny knack of b@ing 8ble to spDI 8 'Red Cap, anK)ng a group the seller describes as "a grtsup of Edwardian soldiers" where a CLffl band or whistle chain betrays the soldier's Unit. enables Ihg Museum to buy the itèm for the collection al moro re88¢nablg prfc88. ROYAL MILITARY POLICE MUSEUM TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 An auctk)n 81ert for "Milllary Police" also drew the Curylor's attention lo the archive of Sergeant Emesl Albert Donkersloot who sery8d with the Corps of the Military Police ICMPI. On 17th Aphl 1945, Ernest was a8slgned to Ihe Prisoner-of-war Camp al Celle lo guard SS staff from the Bergen.Belsen Concgnlratlon Camp. A series ol photographs warg taken 8howing th8 camp's Commandant Josef Kramer under escort. many of which have been subsequently published book$ covering the period. The rnosl famous ol Ihese shows Kramer in ankle4rons shuffling along wilh a member ol the CMP. rovolver drawn. In dos8 attendance. Llke tho other pholtsgraphs in Ihe series, non& of the 'Red Caps, are named. The archiv6, which contalned e copy of the linlfamou8 pholo9raph, also conlalned an a¢￿￿nI of the pertod and 81ong with the addllional photographs ol Emesl enabled a comparison, which fesult8d in a positive hlentificalion of the guard with the revofver as hlm. Finally, th6 Trust was abla lo acqulre th8 8oèr War palr laueen's 8nd Kbng B South Amca Med818118sued lo Lance.Corporal John Road8 ol the Military Fool Police. He Is one of slx members of the Corps listed on the South Atrlcan War Memorlal in thè Stslion chU￿h al Stsjlhwick Park. As the aucuon lisllng did not mention th fact that RoadB was a fatality, the pr4¢e the Museum paid was far lower ttian expec16d and did not rdecl 118 relative rartty. Support to th• ••rvlng soldlor, to D•lon¢• and to Oth•r Gov•mm•nt D•partm•nti and ag•n¢l•s Where safe and pracllcable, the Museum conllnuod to support the serylng 8oldl6r by provi¢Jlng 8 focus of e$prfl de eorps uslng hlstorical exomplars for &a¢h naw member of the RMP, logelhor wlth scheduled Pol8ntlal Officers visits. The expanslon of Inform815on r8ldev81 syslerns, many ulilizing tho work undertaken by volurileers, enabled informallon r&qu851s from RMP Units and official bodies to be answèred promplly, partl¢ularfy In support of Ihg ongoing operatlonal legacy enqulr8B and coronlal Inqu6518 in Northern Irèland, re8Urtlng from Operalon BANNER. The Museum also supported olflcial vislts from a variety of olhgr governrnenl departmèntal v181tors and diplomallc bodS8s In aCCo￿anc9 wllh secure COVID-19 preoaullons and procodures and wlthin guSdellne8. P•rforman¢• Statl•tlc* In what ¢ont4nued lo be oxlraordlnary Ilmes.. Total Museum vlsllors In person 12020 Ilgures In pafenlheso81 were 1,125 Militsry 14101. 807 Adults 12251 and 57 Chlldren101. Overall Museum vlsits In Person of 1.989'saw an Increase on 2020121 but wefe significantly Iow9r than 2019120s figure of 7,177. Map Room vlslls ware 1,432 compared to 5,394 In 2019120. web.hils for the relevant Museum Fac*book pagglhitps.'Ilwv4w.f8c&book.comrrh8•Royal-Mllltary-Pollc8. MuseuTr12143043919326561*rotrtsl showed 8 reach of 58,51)O wllh 8 total of 5,740 followgrs. Flnanclal revlow The Ch8rily ha8 increased Ils unreslrlcled res8rv8s by £10,790 10 £325,517. Restricted rpseNes remained al £nll. Rtslrictod funds repr8$onl amounls which have b8gn received lor speclfic purpose5 and whlch have not yel bggn spent. It is tha pojlcy of the Tru91 that unrestrlcted funds whlch have not bean designated for a spedfic use should be m8lntained al a lovel equivalent lo b8lween Ihree- and slx-month's expenditura. Thfj Trustees consider that reserves at thls18vel will ensure that, In th8 event of a significant drop In fundlng, they will be abl8 lo continue the Trusfs curtynl acb'vitios wh118 consldgrotlon is given lo ways In whlch additi'onal funds may be raL8ed. Thls level of Teserves has béen maInts￿ned throughout the year. The trustees has assessed the major risks to whlch the trust is gxposed, and are satisfied that Systems are in place lo mitigate exposur8 to the major ri8k3. ROYAL MILITARY POLICE MUSEUM TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Structure, gov&rn4nco and management Management of tha Museum is vested Sn the Trust888 who ar6 appointed in accordance wtth the D•claralions ol th8 Trust Deed of 29th August 1979 Ivida paragraph 131. Ex-oificit) Twslees elect, in the first, instance individual Trustees lo a limit 016. The number ol individual TNste8s should not fall bglow 2 in number Iheroafter. Individu81 Trustees are elected by the remalning Trustees. Day-to4ay management of the Museum is Ihè rosponsibility of the Dire¢lor. The Irus188s who 88Ned during the year and up lo the datg of signaluw of the financial Stalemenis were.. Brigadier V W Buck ICh8ir of Truslog81', Colonel S F Boyn of the Irusl•g5 In furthaiancg ol Ih8ir charilablo obje¢tlves. RestrS¢led funds are subject to speclflc condlllons by donors as to how Ihey may be usod. The current restricted fund was free of any 8uch condltions, bul the trus￿8$ de8m8d Ihal the lundlng should be treated as restrfcttrd, and lo be us8d for tho glectft)nic archiving of the RMP Joum81. 1.4 Income In¢omo ￿S recognised when the trust Is legally enlilled lo It aftèr any perfomian¢e conditions h8ye b8en m81. the amoun18 can be measured rgliably, and il is probable th81 income will be received. Cash donallon5 are recounlsed on feceipl. Other donations are recognlsed once the trust has b&8n Thjlifiod of the donation. unless performance conditions r8qulre deferral of the amount. Incom& lax recoverable In relation lo donation8 recgSved under GiftAkl or deeds of covgnanl is recognlsed 81 the time of Ihe donation. Lggacies are rgeognls8d on rèceipt or olhetwlse If the trust has been notified of on lrnpendlng dlgtributSon, th8 8mount Is known, and w¢$ipt is expectad. If the amount Is not known. Ihg legacy is Irealed as a conlingenl asset. Grants of 8 revenug nature are ￿￿lled lo income In the period lo vthlch they relate. 1.5 Expendltur• Uabilib'es are recognlsed on the accruals basi5. 12- ROYAL MILITARY POLICE MUSEUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accountlng pollcl•8 {Contlnuedl Governance costs include 811 expenditure d1￿ctlY related lo the compllance wlth Ch9￿labl9 8nd stslulory requiramenls. R&sourc4s exp6ntJed arg recognised either when they fall due or are pahd, whichaver is the sooner. 1.6 T•nglblo flx¥d a89•ts Tangible fixed as8815 are Inillally measured al cost and gub8aquently moa8ured al cost or valuation, n8101 rlepreciation and any Impalrmenl losses. D8preciallon18 recognls8d 80 Is lo wrlto off th& cost or vauallon of 83s&ts lass Ihelr r88ldug1 values over th8ii usgful lives on the following baso8'. Lan(i and bulldlng8 Flxlures, fittings & equlpmenl Fully ￿precIated Slralghl1Snè over th& lile of the 0S801 (museum acquislions- not depro¢1oledl Thg galn or loss artslng on the dlspos81 of an a$s81 Is determlned as the dlfforenc& bètwaen the sale proc8eds and Ihg carrylno value ol the aysel, and Is reoJgni$ed In thè Stalgrnenl of flnanclal acl6vi1188. 1.7 H•rltag• a•s•ts Museum acqulsitlons 8r8 not deprecSated as, In th8 oplnion of the Iruslg99. th& Items havg an Indeflnilè Ilfe 8nd there wlll be no diminution in thelr value In th& lore8eeable luture. Th8 carrying value Is r8vl8wed for Impalmi8nl. 1.8 Flxod a•••t InY•stm•nt• Flxed as861 Investm&nts are Inillally measured al tran98clion prlce excludlng Irans8Ction costs. and are subsoquenlly measured 81 falr valu8 al each reporting date. Changes In falr valuo 8fft recognlsed In nèl Incomellexpendllurg) for the year. Tronsacllon co815 ar• expènyed as Incuryed. Fixed as¥91 Investments aF8 stsled al morket v&lue. Reallsed gains or 1088es aA¥lng on the dlsposal ot Invgslments Ilog8lher wllh provlslons for dimlnutlon In valuè) are cr8dlted or débiled lo the Slalemenl ol Financial Activities Bnd $ubsequenlly tranSfer￿d to Capital r8sorve. Investment Income Ilncludlng aS50ciatgd t8x crèdits) 18 credlled to tho Stslement of Flnanclal 8clivi1185 wh8n receivable. 1.9 Impalrnient of flxed aM•ts Al each reportlng end dale. the trust revlews the corylng amoLtnls of118 tanglble gS89ts to delermlne whether there is any indication that Ihoso assets have suffered an impairmenl loss. If any such indication exi815, tho rgcoverable amount ol the assel18 èsllmaled in ord&r to detsrmine the exlenl ol the Impalmienl loss Irf 8nyl. 1.10 StockB Stocks ore 8taled at the lower ol cost and eslifnat8d 8glllng price less ¢osls lo complete and sèll. Cost comprfs88 direct materials and, Whe￿ applicablg. direct lab￿r costs and those ovott)eads that havo been Incurred in bringing the stocks to their present location and condition. 118ms held for di$trtbulion 8t no or nomin81 consideration are measured the lower of replacement and cost. Nel realisable value 18 the 8sOmated selling prica 198$ all eslimfjlod cost8 of COFnpk8tlon 8nd costs to be Incuned in marktrling, selling and dislributK)n. 13- ROYAL MILITARY POLICE MUSEUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2022 Accountlng policlo$ (Continu￿) 1.11 Cash and cash ￿U1valertts Cash and cash equivalents Include cash in hand. deposits held at call with b8nks, other yhort-lemi liquid Invastmenls wrlh origlnal rnaturiliès of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings In curr8nl118bllities. 1.12 Financlal In8trum•nts Tha trust has elected lo apply thè prowsions of Section 11 'Basic Flnancial Instrument8, and Sectth 12'01heT Flnancial InslrL¢menls1s8u8s' of FRS 102 to all of118 financlal Instrum9nts. Financlal instruments 8r9 recognlsed in thg Irusl's balanca sheet when the trust be¢ome8 party to tha conlrartual provlsions of the Instrument. Flnanclal assets and Ilabllib'es aro off$el, wilh the nel amounts presonted In the financlal 8lalemenlg, when Ihgre Is a legally enIOr￿able rlghl to set off the r8cognisgd amDunl$ and IheTO 18 9n Inlenuon to 8gllle on 8 nel basls or lo r8ali58 Ihe as8el ond $8td6 the Ilability slmullaneou81y. B•sl¢ Iln•nclal •s*•ts Baslc financlal assgts, whlch Indud& doblors and ca8h and bank b818nceg, are Inlllally m8asur8d at tronsaclion pricg Includlng tr8ngacllon costs and ats 3ubsgquenlly carrlad al amortlsed c081 uslng Ihe 8ff8cllve inlerest method unless the arrangement cons1ilut8s a linanclng Iransacllon. where the Iransactlon Is me8sured al the present value ol the future recelpls discountèd al a market r818 of Snleresl. Fln8ncial asset8 classlfied as rgceivabl8 withln one year are not amortised. 8a$l¢ flnanclal Ilabllltl•• Basic financial liabililles, Includlng crgdllor8 and bank loan8 are inlli8lly recognl59d 8t Iransacllon prlcg unle88 the arrangomonl ¢onslStules a ffinanclng transaction, whgre the debt Inslrum8nl is mgasured al th8 pr8sonl value of the fulurg paymènt8 dl$co)untod al a rnorkgt rale of Inter￿1. FSnanGS8l Ilabllille8 clo$slfled Ès poyabte wlthin one year are not amorti8èd. D6bl Instrum6nls or& subs&qLtgnUy carfed al amortl$•d cost, uBlng Ihe effectlvo Interest ral8 method. Trade crgdllors are obllgalion$ to pay for goods or servicès that have been acqulred in th& ordinary cours8 of operations from 8uppll&rs. Amounts payoblg a￿ classifl&d 88 currenl118bililles If paymenl Is due wlthln one year or less. If not, they aro presented as. r￿n.current Ilabllltl8s. Trade cr8(Jthrs are reco9nlsed InStlally al -Iransaclion priee and subsèquenuy measured 81 amortised cosl using the effective intoregl method. D•rn¢ognftlon oflln•ncl•l Ilabllltl•$ Financial liabllilies are derecogni5ed when th8 trust's contractual obllgaUon8 expire pr arè dis¢harg8d or C8n¢o118(l. 1.13 Empl¢ye• b•n•fft8 The co$1 of any unused holiday enlltlemenl is recyjgnised In the perlod In which the employee's seNces arg ree8iv8d. Termlnallon ben8fltS gre recognlsed Immgdlalely as an expense when Ihg trust Is demonstrably commltted lo lemiSnalg the employment of an ompioyèè or to provid6 lermin8tion ben8fil$. 14- ROYAL MILITARY POLICE MUSEUM NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 CrbU¢al accounting •stlmatè8 and ludg•m•nts In the appllcation of Ihg trust's accounting policles, the Ifuslees are required to make jLJdg8ments, estimates 8nd a5sumptioThs ab¢)Ut the carrying amount of assets and Ilabilities thal are not readily apparent from other sources. The eslimal88 and associated assumptions are based on historical exp8rlence and other factors that are consldered lo be relovanl. Actual results may differ from these esllmales. The esllmales and underlying assumpllons ar8 reviewed on an ongoing basis. Revlslons to accounting estirnates 8re recognlsed in the p&riod in which the estimate is revis8d where the revision affects lor audll foe8. Tru•t••8 None of the Iruslees lor any persons conn8clgd with Ih8m) rec¢lved any femuneration or benefrts from thè trust )mmon wlth many entrtyas of our Size and nature we uFg our auditors lo assist with the preparalK)n ot the stalulory ftnandal stalem&nts.