Regi8tsred numbar: 01487622
Charity numbgr: 281804
NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
(A company limited by guarante8)
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
(A company Ilmlted by guarJnt¢o)
CONTENTS
Page
R?ference and admini8trative d•tslls of the Company. its Tntste8s and adviser5
Tru$teas' report
Indopendent examingrf$ report
Statement of financlal activiti
Balanco 6heet
Note8 to the financial statements
10-22

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
{A company limited by guarnnteo}
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees
Mr S Bell, Chaimian
Mrs P Veale, Treasurer
Mr L Curtis
Mr D Dawson
Mr l Dunlop
Mr C FO%￿eT
Mr 8 Johnson
Mr A LaL*by
Mf J Self
Mr D Wright (resigned 31 Juty 2022)
Company registgrod
numb•r
01487622
Charity registered
number
281804
Rogistered offico
The Street
Flixton
Bungay
Suffolk
NR35 1NZ
Company secretary
Mrs P Veale
Accountants
Larking Gcwen LLP
Chartered Accountants
Faiers House
Gilray Road
Diss
IP22 4WR
Page 1

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
(A Company limft•d by guarnTrtee
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees piesenl their annual reFort toFther with the fin￿¢la1 statements of the Company for the 1
January 2022 to 31 December 2022. The Annual report serves the purposes of trKJth a Trust￿, report and a
dire¢lors' rerx)rt under company law. The Trust*s confim) that the Annual rewrt and financial statements of
the ¢h8rilable company compty wth the cuffent statutory requirements, the requirements of the charitable
company's govemir@ document and the provisions of the Stsltsynenl of Recommended Practice ISORPI
applicable to charities preparing their ac￿nts in accordance with the Fina￿131 Reporting Standard applicable
in the UK and Republic of Ireland IFRS102) (effective 1 January 20191.
Since the Ccxmpany qualifies as ynall under section 382 of the c￿PanieS Act 21JA, the Strategic rewrt
required of medium and large companies under the Companies Act 20C6 (Strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Objectives and activities
a. Pollcles and objectives
To establish and maintain for the benefit of the nation an aerO￿a￿l¢al museum arKI for the like purpose lo
promote the permanent preseryation of military and other aircraft arKI other forms of conveyance and
propulsion, and equipment and items of general aeronautical interest of actual or potential historic or scientific
imFK)rtance and educative value and lo a¢JJuire aircraft, aircraft components, aeronautical equipment and
associated items.
To exhibit to the public any such aircraft, equipment and other items by means of lemrK>rary or pemianent
exhibitions and lo d￿OnStrate lo the public the working and op*rab'on of an such aircraft, equipment and items
by means of slalic or mobile displays and by carrying Ihe public on such aircraft or otherwse.
In setting objectives and planning for activities. the Trustees have given due consideration 10 general guidance
published by the Chaiily Cc¥nmiswon relating to public benefit. including the guidance'Public benefit. running a
charity.
Achievomonts and pgrfomiance
. Review of activities
2022 saw things start to rettjver to a more nomial stuation. A new manager was ￿ruited who commenced
employment in June and who has contributed significantly to the day to day running of the museum.
The museum continued to only open Ihiee days per s%Eek. a more detailed look al numbers indicates that we
had around 88% of the vi&lors that h&1 pre-pandemic when we were open five days per week. 11 also
showed that income was around pre-pandemic levels.
Tripajvisor, Google, elc. conlinue to show a very wtive image of Ihe museum and feedback from visitors
shows that we continue to tell the slory of local aviation in a me8niNJful atxl interesting way.
Our education adivities have restarted with several sch(K>l visits duriThJ the yeai. We were also able lo restart
Scout Days and ran Iwo of these in the latter part of the year.
Event days were lo pre-pandemic levels. The East Coast Pirates day in May saw the single largest
number of visilof5 in one day ever. We filled trK&th the main caT park and overflow one. That had never
previously happened. The museum also celebrated its 501h anniversary towards the end of the year.
We purchased one new exhibit during the year. a Lightning Cockpit Section whKh has proved to be a very
Page 2

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
IA company lirnitgd by guar4nts•)
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2022
Achievements and porfornian¢• {¢ontInu￿)
popular visitor attraction.
The build up of reserves continued vAth the intention of completing ￿ me4or purchases in 2023 (we had
originally hoped to Complete these in 2022)- The ￿serveS a￿ further bolstered by a legacy which is due lo be
eived in 2023, but is provided for in these financial statements.
Financlal review
. Re8er4e8 poIIcy
11 is the Company's policy to maintain as far as powble unrestricted reserves al a level il considers necessary
to meet the short lemi cash flow requirements and maintsin a surplus lo provide headroom for any unexpected
short lemi cash shortfalls. The trustees have set the minimum value of the funds lo be included as a strategic
reserve at £77.000.
The Company's lolal income for the year Wds £213,194 12021: £140,186). Expenditure during the year was
£117,82812021_ £69,991) resulling in a surplus of £95.366 (2021.. £70.1951.
Total fund balances at 31 D￿mber 2022 were £709.530 12021.. £614,164) LL)mpri￿ng £534,527 {2021.'
£435,337) of unreslricled funds and £175.003 (2021." £178,827) of restricted funds.
Free reserves, which exclude fixed assets, were £310.839 {2021. £228.5321 as 31 December 2022. These
additional reserves have been eamiarked for kn major purchases during 2023.
The increase in income, total reseNes aThJ free reserves has been largely impacted by the recognition of a
legacy totslling £112,253 in the year.
Structure. govemance and managemnt
a. Constitution
The Company is limited by guarantee as defined by the Companies Act 20￿. incorporated on 26 March 1980
and registered as 8 charity on 24 February 1981. The Crynpany is g)verned by ils Memorandum and Articles of
Association
In the event of the Company ￿Ing vA)und up, current members and member5 who ceased membership wthin
one year of the wnding up are required to ¢onlribuie an amounl not ex￿edIng £1.
There have been no changes to the ot4'ectives wnce the last annL￿1 report.
b. Mgthods of appointment or èlection of Trustees
The committee of management are the trustees. The committee shall consist of not less than three and not
more than b￿nty members. Onty members of the Company are digiNe to be committee members. One third
of the committee are elected at the Annual General Meebng, e&h 4x)mmittee member being elected for a three
year temi. On completion of the three year lemi the committee member is elTrgible to seek re-e￿lIOn.
If a vacancy arises belween AGM'S or the committee wsh to a(kl lo the number of committee Members
Isubject lo not exceeding the maximum nUmt￿r all(A¥edl the Committ￿ may appY)inl a new member until the
next AGM where they may seek reelection.
Page 3

NORFOLK & SUFFOLK AVIATION MUSEUM LIMThED
(A company Ilmlted by guaTante8)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Structure. governance and manag•ment (continuod)
The committee of mar￿ernent may aN>oint any perx)n lo ￿ an assoaate committee member provided al any
one lime these do not ex￿ed ten in number. The associate committee member wll only be allowed to attend
meetings al the invitation of the chaim)an and shall not have the right to vote al COTnmillee meetings.
. Oryanisational stru¢ture and decisionrymaking policies
The committee of management are the administers of the Company. A treasurer is appointed lo maintain the
financial records of the Company.
d. Policies adoptod for tho induction and training of Trustees
Upon appointment an infomal meeting is held wth the ne4V twske where the prrKedures of the Company are
explained and a tour of the museum is arranged as necessary.
statement of Trustees. r8$ponsibilitles
The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for
preparing the Trustees. report and the finanaal slalemenls in axordanee with applicable law and United
Kingdom Accounting Standards (United KIn9J￿ Generalty Accepte(l Accounting Praclicel.
Company law requires the Tnjstees to prepare finarrial statements for each financial year. Under company
law, the Trustees musl not approve the financial statements unle&8 they are satisfied that they gtve a true and
fair view of the slate of affairs of the c￿panY and of its incoming resources and application of resources,
including its income and expenditure. for that period. In preparing Ihe5e financial stalemenls, the Trustees are
required lo..
lect suitable accounting policies and then appty them congstenlly".
observe the methods and principles of the Charities SORP {FRS 102},'
make judgments and a¢￿￿ntIng estimates that are reasonat4e and prudent.,
slate whether applicable UK Accounting Standards IFRS 1021 have been followed. subject to any
material departures diselosed and explain&J in the financial statements",
prepare the financial statements on the gosng concern basis unless il is inappropriate lo presume that the
Company will continue in bvgness.
The TrLsslees are responsible fof keeping adequate a(£ountiThJ records that are sufficient lo show and explain
the Company's transactions and disclose with reasonable accurary al any lime the financial position of the
Company and enable them to ensure that the financial slalements comply with the Companies Act 2006 They
are also responsible for safeguarding the assets of the Company and hen￿ for taking reasonable steps for the
prevention and detecb.on of fraud and other irreguiaribes.
Page 4

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
(A company limited by guarantsa)
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2022
Approved by order of the members of the board of Trustees and signèd on their behalf by".
Mr S Bell
(Chair of Trustees)
Date..
19 June 2023
Page 5

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
IA company limited by guarants•}
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
Independent examlnerfs report to the Trustees of Norfolk & Suffolk Aviation Museum Llmltsd
{Ihe Company'l
I report to the charity Trustees ￿ my examination of the accounts of the c￿panY for the year ended 31
Decemter 2022.
Responslbllltlos and basis of report
As the Trustees of the Company land its directors for the PUTPW5 of C￿mpanY lawl you are responsible for the
preparation ol the accounts in accordance with the requirements of the Companies Act 20061.lhe 2(K>6 Acl'}.
Having satisfied myself that the alrounts of the Company are not reqUIr￿j to be audit￿ under Part 16 of the
2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's
accounts carried out under seclion 145 of the Charities A¢1 2011 1.the 2011 Act'l. In carying out my
examination I have followed the Directsons given by the Charity Cornmission under section 145(5llb} of the
2011 Act.
Independent examlnerfs ststement
I have completed my examination. I confimi that no matters have come to my attention in connection wth the
examination giving me cause to believe"
accounting records were rwjl kept in resFect of the CL¥npany as required by section 386 of the 2006 Act;
or
the accounts do not accord wth those records". or
the accounts do not comply wth the accounting requirements of section 3* of the 20￿ Act other than
any requirement that the accounts gNe a 'true and fairf view is not a maltef considered as part of
an independent examination", or
the accounts have not been prepared in accordan￿ with the melhcKls and principles of the Statement of
Recommended Practi￿ for accounting and rerx)rting by charities appli(3ble lo tharilies preparing their
accounts in accordan￿ wlh the Financial Rew>rting Standard applicable in the UK and Republic of
Ireland IFRS 102)
I have no concerns and have cc*ne ￿0$$ no other matter5 in connection wth the examination to which
allenlion should k drawn in this report in order lo enable a prq)er understanding of the accounts to be
reached.
This report is made solely to the Company's Trustees. as a body, in accordance with Part 4 of the Charities
(Accounts and Reports} Regulations 2008. My vrfork has been t1￿￿ertaken so that I mi9ht slate to the Company's
TTU51ees tho* matters l am fequired to slate to them in an Indyndent examinerfs repx)rt and for no other
purpose To the fullest extent pemitted by law, I do not accept or assume responsbility to anyone other than
the Company and the Companls Trustees as a LKMJY. for my work or for this report.
Signed..
Christopher Yeales FCA DChA
For and on behalf of Larking Gowen LLP
Chartered Accounlanls
Diss
Dated.. 22 June 2023
Page 6

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
(A ¢ompany Ilmltod by guarnntso)
STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 DECEMBER 2022
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Total
funds
2021
Note
Income from:
Grants, donations and legacies
Other trading activities
Other income
156,243
56.951
156.243
56.951
71,910
68,117
159
Total income
213.194
213.194
140, 186
Expenditure on:
Charitable activities
114,004
3,824
117.828
69,991
Total exponditure
114.004
3.824
117.828
69,991
Net movoment in funds
99,190
13.824}
95,386
70, 195
Reconciliatlon of funds-
Total funds brought forward
Nel movement in funds
435.337
99,190
178.827
13.824}
614.164
95,366
543.969
70.195
Totsl funds carried forward
534.527
175.003
709.530
614. 164
The notes on page5 10 to 22 fomi part of these finanaal statements.
Page 7

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
(A Company limit¢d by guarantee)
REGISTERED NUMBER: 01487622
BALANCE SHEET
AS AT 31 DECEMBER 2022
2022
2021
Note
FIX￿ a888ts
Tangible assets
Heritsge asse15
385,623
13.068
385.632
10
398.691
385,632
Current a88ets
stocks
Debtors
Cash al bank and in hand
11
5.931
118,323
200.702
7.363
11,199
212,940
12
324,956
231.502
credito￿ amounts falling due wthin one
year
13
{14.11n
(2.970)
Net current assots
310.839
228.532
Total assets less current liabllltles
709.530
614, 164
Total net a8sets
709,530
614, 164
Charity funds
Reslricled funds
Unrestricted funds
14
175.1)03
534,527
178,827
435,337
14
Total funds
709,530
614, 164
The Company was entrtled lo exemption from audit under section 477 d the CompanEs Act 20(￿.
The members have not required Ihe company to obtain an audit for the year in question in accordance with
section 476 of Companies Act 20(E.
The Trustees ackn￿edge their responsibilits.es for comptying wlh Ihe requirements of the Act with re￿e¢t to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordan￿ with the Fyovisions applicable lo enlilies subject lo
the small companies regime.
Page 8

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
(A company Ilmited by guardnteel
REGISTERED NUMBER.. 01487622
BALANCE SHEET (CONTINUED}
AS AT 31 DECEMBER 2022
The financial slalements were approved and authorised for issue by the Truslees and signed on their behalf by..
(Chair of Truslees)
Date.. 19 June 2023
The notes on pages 10 10 22 form part of these financkAI stslements.
Page 9

NORFOLK & SUFFOLK AVIATION MUSEIAq LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Genoral infomiation
Norfolk and Suffolk Aviation Museum Limited is a private company limited by guarantee and
incorporated in England and Wales. registration numb￿ 01487622. The Company is also a registered
charity. charity number 281804. The registe￿ office is The Street. Flixton, Bungay, Suffolk, NR35 1 NZ.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in aC£Ordan￿ wlh Ihe Charitbes SORP IFRS 1021-
Accounting and Reporting by Charities". Stslement of Recommend￿1 Practice applicable to charib.es
preparing their &counts in accordance with the Finantial ReportirrfJ Standard applicable in the UK
and Republic of Ireland IFRS 102} (effective 1 January 20191. the Finanaal Reporting Standard
applicable in the UK aTrJ Republic of Ireland {FRS 102) and the Companies Ad 2006.
The financial statements are presented in sterting which is ihe functional currency of the CLYnpany
and rounded lo the nearest £.
Ntyfolk & Suffolk Avi8tson Museum Limited meets the definition of a public benefit entity under FRS
102. Assets and liabilities are initially recDJnised at historical cost or transaction value unless
OtheTh￿Se ststed in Ihe relevant aeecNJnting policy.
2.2 Income
All income is recognised On￿ the Company has entillement lo the income. it is probable that the
incc*ne vJill be received and the amount of income reeeivaWe can be measured reliably.
The rec(yJnilion of income from legacies is dependent on establishing entitlement. the probability of
receipt and the ability to estimate with gjfficient accuracy the amount recwvable. Eviden¢e of
enlillemenl to a legacy exists vthen the Company has sufficient eviden￿ that a gift has been left to
them {through knowledge of the existence of a valid wll and the dealh of the benefactor} and the
executor is satisfied that the propety in quests.on will rk)t be required to satisfy Claims in the estate.
R￿lpl of a legacy must be recognised when it is probable that it will be received and the fail value
of the amount r￿1vable. which wll generally be the eXP￿d cash amount lo be distributed lo the
Company, can be reliably measured.
Grants are indud8J in the Stalemet)l of financial activities on a reCeiVa￿e basis. The balance of
income received for speafic purwses bul not expend￿ during the pericyj Is shown in the relevant
funds on the Balan￿ sheet_ Where income is received in advance of enlillement of receipt, its
r￿QgnitIOn is deferred and included in (xeditors as deferred income. Where entitlement occurs
before incL¥ne is received. the incorne is accrued.
Income lax recoverable in relation lo donalions received under Gift ￿"d 01 deeds of coven8nl is
recL¥Jnised al the time of the donation.
Page 10

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
{A company Ilmitod by guardntse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Accounting poli¢io$ (continued
2.3 Expenditure
ExpeThYilure is rw>Jnised once there 15 a legal or constructive obligation lo transfer economic
benefit to a Ihird party, il is probable that a transfer of economic tenefits will be required in
settlement and the amount of the obligatson can be measvred reliably. Expenditure is classified by
activity. The cKJsts of each activity are made up of the total of direct costs and shared costs,
including support cosls invofved in urwjertaking e￿h activity. Diwt costs attributable lo a single
activity are allocated directly to that activity. shar￿ costs which contribute to more than one activity
and supwrt rnsts which a￿ not attributable to 8 single activity are apportioned ￿tween those
activities on a basis consistent with the use of resour￿. Central staff costs are allocated on the
basis of time spent. and depreciats.on charges alkK*ed on the wrtion of the 8ssel's use.
Expenditu￿ on charitalle activities is incurred on direclly undertaking the actNits"es which further the
Companls objective& aswell as any asg)ckated yjpport costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Tangible fixed assots and depreciation
Tangible fixed assets a￿ carried at cost, nel of depwiab.on arKI any provisions for impaimienl.
Depr￿latIOn is provided al rates calculated to WTite off the co* of fixed assets, less their estimated
residual life. over their Qxpected useful lives on Ihe followng base&
Freehold propety
Hangers
Huts and buildings
Site improvements
Bridge conslrudion
Plant and machinery
not provided
straight line over 75 years
slraighl line over 75 yeaTS
5% slraighl line
5% reducing balan
- 15% ￿￿Ing bala
2.5 Heritage assets
The charity maintains a collection of aircraft and aviation-related artifacts. This collection has been
building up since the charity was foun(￿ in 1980.
The Trustees feel that Lwng lo the inccrfnparai4e nature of the collection, conventional valuation
lad(s sufficient reliability and that, even if valuations could be obtained, the wsls would be onerous
compared wlh the *litional benefits derived by the charity and users of the accounts. As a result,
vthere exhibits have been donated to the charity, no value is rewrted for these assets in the
charity's accounts Where exhibits are purchased for the collecb"on, the assel is included at its initial
cost to the charity. 11 is believ￿ the assets have an indefinite life given regular maintenance and
the￿fOre are not depreciated.
The cost of a5Xtialed Maintenan￿ and refurtrA"shment is rewrted in the Slalement of Financial
Activity in the year it is incurred.
2.6 Slocks
Stocks are valued al the lo￿￿[ of cost and net realisable value after making due allowance for
ca)solele and slow-moving *0￿S. Cost includes all direct costs a￿1 an appiopriale proportion of
fixed and variable overheads.
Page 11

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
IA ￿rnPany limlted by guarnntgo)
NOTES TO THE FINANCIAL sTATEmE￿s
FOR THE YEAR ENDED 31 DECEMBER 2022
Accounting poli¢ies Icontlnuod)
2.7 Debtor8
Trade and other debtors are t￿nised at the *tVement amount after any trade discount offered.
Prepayments are value(l at the amount prepaid net of any trade discounts due.
2.8 Cash at bank and In hand
Cash at bank and in hand includes cash and short-lerm highly liquid investments with 8 short
maturity of three mLN)Ihs or less from the date of wvisition or opening of the depoyl or ￿Milar
account.
2.9 Liabilltle$ and provlslons
Liabilities are recognised when there is an obligatson al the Balance sheet dale as a result of a past
event, il is probable that a transfer of economic tenefit will be required in settlement, and the
amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company antI￿pate$ it wll pay to settle the debt or
the amount it has receNed as adVan￿d payments for the ￿0dS or setvices il musl provide.
Provi￿0￿$ are measured al the best estimate of the amounts required lo settle the obligation.
Where the effect of Ihe b.me value of money is material. the provision is based on the present value
of those amounts, discounted 8t the pre-tax discount rale that reflects the risks specific lo the
liability. The unwinding of the discount is recognised in the Statement of financial activities as a
finance cost.
2.10 Financial Instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic
rinancial instnjments. Bay¢ finanual instruments are initially recognised at transaction value and
subsequently measured at their settlement value with the exception of bank loans which are
subsequently measured at amortised cost ugng the effective interest melhc¥J.
2.11 Pension8
The Company operates a defined contribubon pengon scheme and the pension charge represents
the amounts payable by the c{￿panY lo the fund in rewect of the year.
2.12 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trust*s in
furtherance of the general oty"eth'ves of the Company ar￿ wh￿h have not been desgnaled for other
Pkjrroses.
Restricted funds are funds wthich are to be used in accordance with stttific restrictions impo￿] by
donors or which have been raised by the Company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is sel out in the notes to the financial slalemenls.
Page 12

NORFOLK & SUFFOLK AVIATION MUSEUM LIMrrED
IA company limited by guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Incom8 from donatlons. memberships and grants
Unrestricted Rostricted
funds
funds
2022
2022
Total
funds
2022
Tol81
funds
2021
Grants
Arts Council England grant
Government grants
11,546
Covid-19 business grant
29,807
Total grant8
4.000
41.353
Donations
Legacies
Membership
38.618
112.253
1.372
38.618
112.253
1.372
28, 653
1.904
Subtotal
152.243
152,243
30,557
Total 2022
156,243
156.243
71,910
Total 2021
60,364
11.546
71,910
Page 13

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
IA company limlted by guarant¢e)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Income frorn other trading activities
Total
funds
2022
Total
funds
2021
funds
2022
Fundraising events
NAAFI sales
Shop income
Bric a Brac sa
Insurance claim
Educational Vi￿lS
787
787
25.731
22,526
7.782
2T4
25,731
22,526
7.782
18,073
18.805
5,925
25,OLTr)
40
125
12S
Total 2022
56.951
56,951
68,117
Total 2021
68,117
68,117
Income of £25,000 was received in the year ended 31 tkcwnber 2021 in res￿¢1 of an insurance claim
for loss ol eamings due lo the coronavirus pandemic.
Anatysis of expenditure by activitles
Support
costs
2022
Total
funds
2022
Total
funds
2021
Museum
117,828
117.828
69.991
Total 2021
69,991
69,g91
Page 14

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
IA company limited by guarnnt¢e}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 310ECEMBER 2022
Analysis of expenditure by a¢tivlties (Continued
Analysls of $upport costs
Total
funds
2022
Total
funds
2021
Stsff costs
Depreciation
Computer costs
Rates and water
Insurance
Light and heal
Telephone
Postsge and stationery
Advertising
Sundries
Shop purchases
NAAFI purcha
Health and safety requirements
Accounlanw and bookkeeping
Exhibits and museum projec15
Legal and professional
Special activity days
tknnalions
cr￿14t card and donation prrKe&sing fees
Travel and accommodation
16,508
11,389
308
2,885
6,037
7.687
1.214
477
4Lk)
11,879
535
1,301
4,711
6,489
1.266
859
1,303
1,191
9, 184
6,519
1,074
3,025
17,675
1,501
4,038
2,023
11,888
11.036
819
6,736
21,373
11.234
550
1,084
502
1.079
117.828
69, 991
Independent examinerfs remuneration
2022
2021
Fees payable lo the Company's indyNknl examiner for the inderendent
examination of the Company's annu81 accounts
Fees payable to the Companrfs ind￿ndent examiner in re¥*¢t of..
Al assurance serVI￿S not Includ￿ a￿Ve
2,200
1, 625
850
Page15

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
(A company Ilmltod by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
staff costs
2022
2021
Wages and salaries
Contribution to defined contribjtion pension schemes
16,242
266
400
16,508
4IKI
The average number of pemns employed by the Company during the year was as follo￿..
2022
No.
2021
No.
Museum Manager
No employee re￿iVed remuneration amoLbnting to more than £60.0￿ in either year.
Total key management pewnnel remuneration during the period was £16,508 (2021." £NILI.
Trusteos. rgmuneration and expenses
During the year, no Trustees re￿Ned any remuneration or other benefits (2021- £NIL).
During the year ended 31 December 2022, one trustee waived reimbursemenl of expenses12021 - no
trustees waived reimbuTsemenl of exFenses}-
Page 16

0 05 0

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
(A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
10.
Heritage assets
Assets recognised at cost
Exhibits
2022
Total
2022
Additions
13.(68
13,068
13,068
13,068
Anatysis of heritage a$sgt transactions
2022
2021
2020
2019
2018
Pur¢ha$es
Lightening cockpit
I3.￿8
Total additions
13,¢
Page 18

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
IA company limited by guarantge
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Stocks
2022
2021
Paint stocks and goods for resale
5,931
7,363
12. Debtorn
2022
2021
Due wlthln one year
Other debtors
Prepayments and accrued income
Grants and legacies receivable
1,326
4.744
112,253
7, 735
3,464
118.323
11,199
13. Crodltors: Amounts falling due within one year
2022
2021
Trade creditois
Other taxation and social security
Pension creditor
Accruals and deferred income
9,437
1,916
124
1,020
1,950
14.117
2,970
Page 19

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
(A company limited by guarant#)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
14. Statemènt of lunds
statement of fund8- ¢Ufrent year
Balanco at
31
December
2022
Balance at 1
January
2022
Income Ex￿ndIture
Unrestri¢t¢d funds
General Funds
435.337
213.194
{114.004)
$34,527
Restricted funds
HangaT one
Hangar tsyo
Sile improvements
21.989
152.821
4.017
(3541
12.465)
(i.oosi
21,635
150.356
3.012
178,827
13,8241
175,003
Total of funds
614.164
213.194
1117,8281
709,530
Page 20

NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED
(A company lirnited by guardntoe)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
14. Statement of funds {¢ontinued)
Statement of fund8 - prioryear
Balance al
31
TraTrSfe￿ Decemb
in/out
2021
Balan￿ at
l January
2021
Income Expenditu
Unrestricted funds
General Funds
361.318
128.640
(54.385)
(236)
435,337
Restrlctsd funds
Hangar one
Hangar
Sile improvements
Arts Coun￿1 England
22,343
t55.286
5,022
{354)
(2,465)
(1,005)
(11.782)
21,989
152,821
4,017
11.546
236
182.651
11,546
(15.606J
236
178,827
Total of funds
543,969
140, 186
(69,991)
614, 164
Each of the reslricled funds represents monies received by the company lo erect and maintain various
properties referred lo. with the ex￿ptiOn of the grant from Arts Council England, which was paid to
assist the Museum in transitsoning badi to a viable and sustainable opwating model follo¥Mng the Covid-
19 pandemic.
The transfer in 2021 represent the overspend of restricted funds in the year.
Page21

NORFOLK & SUFFOLK AVIATION MUSEUM LIfiIITED
(A company Ilmlted by guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
15. Anatysi¥ of net assets between fund8
Analysis of nèt a88ets betweon funds- current yoar
UnTostricted Restricted
funds
funds
2022
2022
Total
funds
2022
Tangible fixed assets
Heritage assets
Current assets
Cfedilors due within one year
210,620
13,(
324.956
114.1171
175.003
385.623
13.068
324,956
(14,117)
ToLIl
534,527
175.003
709.530
Analysis of net assets between funds- prior year
UnTrstiicted
funds
2021
Restncled
funds
2021
Total
funds
2021
Tangible fixed assets
Current assets
Creditors due within one year
206,805
231,502
(2.970)
178,827
385,632
231,502
(2,970)
Total
435,337
178,827
614, 164
16. Pgnsion commitments
The Company oK￿rateS a defined contribution scheme. The assets of the scheme are held
separately from those of the Company in an indepentsnlly administered fund. The pen&on Cost charge
represents contributions payable by the group to the fund and amounted lo £266 12021
£Nill.
Contribution totslling £124 12021 £Nil} were payable lo the fund at the balance sheet date and are
Includ￿ in creditor&
17.
Related party transactions
The Company has nol enter￿j into any related party transaction during the year. nor are there any
oulslanding balances owng between related parties and the Company at 31 December 2022.
Page 22