**Registered number: 01487622 Charity number: 281804**
**NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED (A company limited by guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2025**
## **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
## **(A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Company, its Trustees and advisers**|1|
|**Trustees' report**|2 - 5|
|**Independent examiner's report**|6|
|**Statement of financial activities**|7|
|**Balance sheet**|8 - 9|
|**Notes to the financial statements**|10 - 22|
## **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
## **(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Trustees**|Mr S Bell, Chairman|
|---|---|
||Mrs P Veale, Treasurer|
||Mr C Chapman (appointed 6 October 2025)|
||Mr L Curtis|
||Mr D Dawson (resigned 8 July 2025)|
||Mr C Fowler (resigned 2 February 2026)|
||Mr M Hopkinson|
||Mr P Hunt|
||Mr I Day (appointed 20 August 2025)|
||Mr B Johnson|
||Mr J Self|
|**Company registered**
**number**
01487622
**Charity registered**
**number**
281804
**Registered office**
The Street
Flixton
Bungay
Suffolk
NR35 1NZ
**Company secretary**
Mrs P Veale
**Accountants**
Larking Gowen LLP
Chartered Accountants
Faiers House
Gilray Road
Diss
IP22 4WR||
Page 1
## **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
The Trustees present their annual report together with the financial statements of the Company for the year 1 January 2025 to 31 December 2025. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
The charity's charitable purpose is :
1. To establish and maintain for the benefit of the nation an aeronautical museum and for the like purpose to promote the permanent preservation of military and other aircraft and other forms of conveyance and propulsion, and equipment and items of general aeronautical interest of actual or potential historic or scientific importance and educative value and to acquire aircraft, aircraft components, aeronautical equipment and associated items.
2. To exhibit to the public any such aircraft, equipment and other items by means of temporary or permanent exhibitions and to demonstrate to the public the working and operation of an such aircraft, equipment and items by means of static or mobile displays and by carrying the public on such aircraft or otherwise.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Achievements and performance**
## **a. Review of activities**
The big difference for the museum in 2025 was that we commenced charging admission instead of operating an admission by donation system. This was a difficult decision for us, but seen as necessary due to the decline in donations per head. Unfortunately, numbers suffered as a result, but overall, the change was seen as positive by the trustees as income was up on the previous year despite the difficulties listed below.
Once again, the museum saw an increase in regular volunteers. The museum continued to open three days per week for nine months of the year.
We ran two Scout days during the year; these proved popular and were “sold out”. The year saw a significant increase in school visits, with most Tuesdays in the autumn and winter being booked well in advance.
Event days were up again with several car clubs holding drive-ins and way point stops.
Sadly, we are unable to take on every artefact that is offered due to storage and display space being finite. Most museums now find themselves in similar positions. Indeed, one of the focusses for the year has been to move on items that are highly unlikely ever to be displayed.
Page 2
## **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Achievements and performance (continued)**
During the year we said goodbye to the Sea Harrier which had been on loan from The Imperial War Museum for several years. They did replace it with a development Jaguar though, only this was given to the museum rather than being on loan.
Work on planning permission for the new land and proposed development still continues, but is proving far more complex than anticipated. The museum has contracted-in planning consultancy to facilitate this process. It is hoped that we will be able to submit the planning application and subsequent grant bid during 2026 for at least phase 1 of the programme.
Overall, a very successful year for the museum with Tripadvisor, Google, etc. continuing to show a very positive image of the museum, and feedback from visitors showing that we continue to tell the story of local aviation in a meaningful and interesting way.
## **Financial review**
## **a. Reserves policy**
It is the Company's policy to maintain as far as possible unrestricted reserves at a level it considers necessary to meet the short term cash flow requirements and maintain a surplus to provide headroom for any unexpected short term cash shortfalls. The trustees have set the minimum value of the funds to be included as a strategic reserve at £84,500.
The Company's total income for the year was £194,098 (2024: £154,100) including a legacy of £32,947. Expenditure during the year was £147,205 (2024: £140,743) resulting in a surplus of £46,893 (2024: surplus of £13,357), the majority of which relates to the legacy received in the year.
Total fund balances at 31 December 2025 were £764,680 (2024: £717,787) comprising £597,546 (2024: £543,586) of unrestricted funds and £167,134 (2024: £174,201) of restricted funds.
Free reserves, which exclude fixed assets, heritage assets and designated funds, were £262,716 (2024: £211,129) as 31 December 2025. The Museum is currently building reserves in anticipation of seeding a large grant application to develop new buildings.
## **Structure, governance and management**
## **a. Constitution**
The Company is limited by guarantee as defined by the Companies Act 2006, incorporated on 26 March 1980 and registered as a charity on 24 February 1981. The Company is governed by its Memorandum and Articles of Association.
In the event of the Company being wound up, current members and members who ceased membership within one year of the winding up are required to contribute an amount not exceeding £1.
There have been no changes to the objectives since the last annual report.
Page 3
## **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Structure, governance and management (continued)**
## **b. Methods of appointment or election of Trustees**
The committee of management are the trustees. The committee shall consist of not less than ,three and not more than twenty members. Only members of the Company are eligible to be committee members. One third of the committee are elected at the Annual General Meeting, each committee member being elected for a three year term. On completion of the three year term the committee member is eligible to seek re-election.
If a vacancy arises between AGM's or the committee wish to add to the number of committee members (subject to not exceeding the maximum number allowed) the committee may appoint a new member until the next AGM where they may seek re-election.
The committee of management may appoint any person to be an associate committee member provided at any one time these do not exceed ten in number. The associate committee member will only be allowed to attend meetings at the invitation of the chairman and shall not have the right to vote at committee meetings.
## **c. Organisational structure and decision-making policies**
The committee of management are the administers of the Company. A treasurer is appointed to maintain the financial records of the Company.
## **d. Policies adopted for the induction and training of Trustees**
Upon appointment an informal meeting is held with the new trustee where the procedures of the Company are explained and a tour of the museum is arranged as necessary.
Page 4
NORFOLK & SUFFOLK AVIAfioN MUSEUM UMITED
IA cot)yny limited by guarants•}
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2026
Statement ol TNst8es' respon¥ibiliti•s
TDJsta8s (Wt are also Ihe directoY3 of the ComFAny Iof the of rJ)Thpary r&sp)ble for
preparing tha Trust, report and ihe financi81 st8tèm&nts in accordance with appliI2bl$ law 8nd Unit&J
"ngdom Accounting Standards (United Kingdom GerErally Accepted Accounting Pfantieal.
Company law requires the Trustees to pware financial statement5 for 98ch financial Under company law, tl
Tnjstees must not approve thé fin8ncial statements unless thoy 8re satisfied that they give a true and lair viéw
of state of affairs of the C(xnpany and of its incomirKJ resourlxs and appli(xtion of resources, induding it$
income and expendrture, for that penod. In preparing Ihew financi81 statomants, the Trustees a required to"
select suitabl$ ac¢ountiNJ polioes and then apply Ilw con9sttlY.,
observe methods am principles of the Charitias SORP IFRS 102).,
makeitjdgments and accDLnting eslimates th8t 8r8 reasonable and prdent,.
state whether applicable UK Accountirw Standards IFRS 11T21 have teen follchved. sut4ect to
n)alerial departures di3clo8ed oxplaingJ in Ihe fiiancial 31alements,'
prepare the fin8n¢ial $tatgm8nts on the going c3)wn basi8 un19S5 It is inappmpriate to prerne that the
Company wtll continuè in business.
The Trustees are responsiblg kwing ad8quate arUntIng rwds that wfficient to show and explain
the Companls tr8ns*ions 8nd disclose vAth reasonable ac(xJra¢y at time the financial posilion of the
Company and 8nabl8 Ihem lo gnsura that th& f1rW$8J statsrn8nt8 cornply with lh• Companies Act 2. They
are a150 raspmsible for safeguarding the assets of the COnnY and hce f¢x takJ'ThJ Teasonable steps for I
prev9ntion ar3d datèrlion of fraud and other iTregularilie&
Approved by order of tha mombers of the board of Trustee5 and *gnod on thèir behalP by..
(Chair of Trustees)
Date.
PwJe 5
## **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
## **(A company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Independent examiner's report to the Trustees of Norfolk & Suffolk Aviation Museum Limited ('the Company')**
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2025.
## **Responsibilities and basis of report**
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited 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 section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper 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 work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
Signed: 17 June 2026
Christopher Yeates FCA DChA
**Larking Gowen LLP** Chartered Accountants Diss
Page 6
## **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Note**
**Income from:**
Grants, donations and legacies
3
Other trading activities
4
Other income
5
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**63,002**
**120,972**
**118**
**184,092**
**130,132**
**130,132**
**53,960**
**543,586**
**53,960**
**597,546**|**Restricted**
**funds**
**2025**
**£**
**8,388**
**1,618**
**-**
**10,006**
**17,073**
**17,073**
**(7,067)**
**174,201**
**(7,067)**
**167,134**|**Total**
**funds**
**2025**
**£**
**71,390**
**122,590**
**118**
**194,098**
**147,205**
**147,205**
**46,893**
**717,787**
**46,893**
**764,680**|_Total_
_funds_
_2024_
_£_
_72,693_
_80,604_
_803_|
|---|---|---|---|---|
|||||_154,100_|
|||||_140,743_|
|||||_140,743_|
|||||_13,357_|
|||||_704,430_
_13,357_|
|||||_717,787_|
The notes on pages 10 to 22 form part of these financial statements.
Page 7
## **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
## **(A company limited by guarantee) REGISTERED NUMBER: 01487622**
## **BALANCE SHEET AS AT 31 DECEMBER 2025**
|**Note**
**Fixed assets**
Tangible assets
10
Heritage assets
11
**Current assets**
Stocks
12
Debtors
13
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
14
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
15
Unrestricted funds
15
**Total funds**|**7,537**
**37,824**
**287,720**
**333,081**
**(5,836)**|**2025**
**£**
**424,367**
**13,068**
**437,435**
**327,245**
**764,680**
**764,680**
**167,134**
**597,546**
**764,680**|_7,888_
_5,107_
_270,822_
_283,817_
_(4,917)_|_2024_
_£_
_425,819_
_13,068_|
|---|---|---|---|---|
|||||_438,887_
_278,900_|
|||||_717,787_|
||||||
|||||_717,787_|
|||||_174,201_
_543,586_|
||||||
|||||_717,787_|
Page 8
NORFOLK & SUFFOLK AVIATION MUSEUM LIMITEO
IA company limite(I by guaranteol
REGISTERED NUMBER: 01487622
BALANCE SHEET ICONTINUEO}
AS AT 31 DECEMBER 2025
The Company was entitled lo exemption from audit urnjer section 477 of the Cc*npanies Act 20C6.
The members have not required the company to obtain an audit ftx the in question in accordance with
section 476 of C¢)mpanies Act 20C6.
Th8 Twst8es ac*nowledge the responssbilities for comptying with ihe rewirements of thg Act W51h r8sFgCt to
accounting records and preparation of financial stalemenls.
The financial statemenls have been preparal in *Lordarte th the provi&ons applicgbla to antitias subject to
the small companies regime.
The linancial slalements were approve
sed issue by the Trustees and signed on their behalf by..
Mr S Boll
(Chair of Trusleesl
Dale..
The notes on we$ 70 10 22 f(ym part of these financtal statements.
PaJe 9
# **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **1. General information**
Norfolk and Suffolk Aviation Museum Limited is a private company limited by guarantee and incorporated in England and Wales, registration number 01487622. The Company is also a registered charity, charity number 281804. The registered office is The Street, Flixton, Bungay, Suffolk, NR35 1NZ.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
Norfolk & Suffolk Aviation Museum Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Income**
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Page 10
**NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **2. Accounting policies (continued)**
## **2.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.4 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
|Freehold property|- not provided|
|---|---|
|Hangars|- straight line over 75 years|
|Huts and buildings|- straight line over 75 years|
|Site improvements|- 5% straight line|
|Bridge construction|- 5% reducing balance|
|Plant and machinery|- 15% reducing balance|
Page 11
**NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **2. Accounting policies (continued)**
## **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 founded in 1980.
The Trustees feel that owing to the incomparable nature of the collection, conventional valuation lacks sufficient reliability and that, even if valuations could be obtained, the costs would be onerous compared with the additional benefits derived by the charity and users of the accounts. As a result, where exhibits have been donated to the charity, no value is reported for these assets in the charity’s accounts. Where exhibits are purchased for the collection, the asset is included at its initial cost to the charity. It is believed the assets have an indefinite life given regular maintenance and therefore are not depreciated.
The cost of associated maintenance and refurbishment is reported in the Statement of Financial Activity in the year it is incurred.
## **2.6 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **2.7 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued 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-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.9 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
Page 12
# **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **2. Accounting policies (continued)**
## **2.10 Financial instruments**
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.11 Pensions**
The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.
## **2.12 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed 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 set out in the notes to the financial statements.
## **3. Income from donations and legacies**
|**Unrestricted**
**funds**
**2025**
**£**
Donations
24,229
Legacies
32,947
Grants
-
Membership
5,826
63,002
_Total 2024_
_72,693_|**Restricted**
**funds**
**2025**
**£**
-
-
8,388
-
8,388
_-_|**Total**
**funds**
**2025**
**£**
**24,229**
**32,947**
**8,388**
**5,826**
**71,390**
_72,693_|_Total_
_funds_
_2024_
_£_
_44,557_
_25,000_
_-_
_3,136_|
|---|---|---|---|
||||_72,693_|
|||||
Page 13
**(A company limited by guarantee)**
## **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **4. Income from other trading activities**
|**Unrestricted**
**funds**
**2025**
**£**
Fundraising events
140
NAAFI sales
21,993
Shop income
21,609
Bric a Brac sales
2,426
Educational visits
-
Cockpit tickets
4,480
Admission income
70,324
120,972
_Total 2024_
_77,735_
**5.**
**Other incoming resources**
**Unrestricted**
**funds**
**2025**
**£**
Miscellaneous income
118
**6.**
**Analysis of expenditure by activities**
Museum
_Total 2024_|**Restricted**
**funds**
**2025**
**£**
-
-
-
1,618
-
-
-
1,618
_2,869_
**Restricted**
**funds**
**2025**
**£**
-
**Support**
**costs**
**2025**
**£**
147,205
_140,743_|**Total**
**funds**
**2025**
**£**
**140**
**21,993**
**21,609**
**4,044**
**-**
**4,480**
**70,324**
**122,590**
_80,604_
**Total**
**funds**
**2025**
**£**
**118**
**Total**
**funds**
**2025**
**£**
**147,205**
_140,743_|_Total_
_funds_
_2024_
_£_
_313_
_32,607_
_31,759_
_7,172_
_310_
_8,443_
_-_|
|---|---|---|---|
||||_80,604_|
||||_Total_
_funds_
_2024_
_£_
_803_|
||||_Total_
_funds_
_2024_
_£_
_140,743_|
|||||
Page 14
**NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **6. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Staff costs
Depreciation
Computer costs
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Shop purchases
NAAFI purchases
Health and safety requirements
Accountancy and bookkeeping
Exhibits and museum projects
Legal and professional
Special activity days
Donations
Tools and equipment
Credit card and donation processing fees
Travel and accommodation
Bank charges|**Total**
**funds**
**2025**
**£**
**31,800**
**11,414**
**565**
**3,378**
**6,931**
**10,527**
**918**
**346**
**6,123**
**9,571**
**10,046**
**9,749**
**2,710**
**6,945**
**33,946**
**-**
**-**
**-**
**872**
**1,218**
**-**
**146**
**147,205**|_Total_
_funds_
_2024_
_£_
_30,720_
_10,643_
_468_
_2,515_
_7,231_
_11,784_
_1,259_
_460_
_8,709_
_4,743_
_15,376_
_11,342_
_493_
_7,080_
_21,775_
_3,839_
_26_
_500_
_-_
_1,567_
_168_
_45_|
|---|---|---|
|||_140,743_|
## **7. Independent examiner's remuneration**
The independent examiner's remuneration amounts to an independent examiner fee of £2,420 ( _2024_ - _£2,200_ ).
Page 15
**(A company limited by guarantee)**
## **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **8. Staff costs**
||**2025**|**2025**|_2024_|
|---|---|---|---|
||**£**||_£_|
|Wages and salaries|**31,800**||_30,600_|
|Contribution to defined contribution pension schemes|**-**||_120_|
||**31,800**||_30,720_|
|The average number of persons employed by the Company during the year was as follows:||||
||**2025**||_2024_|
||**No.**||_No._|
|Museum Keeper|**1**||_1_|
No employee received remuneration amounting to more than £60,000 in either year.
Total key management personnel remuneration during the period was £31,800 (2024: £30,720).
## **9. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2024 - £NIL)_ .
During the year ended 31 December 2025, no expense reimbursements were waived (2024 - None).
Page 16
## **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **10. Tangible fixed assets**
|**Cost or valuation**
At 1 January 2025
Additions
At 31 December 2025
**Depreciation**
At 1 January 2025
Charge for the year
At 31 December 2025
**Net book value**
At 31 December 2025
_At 31 December 2024_|**Freehold**
**property**
**£**
**59,109**
**-**
**59,109**
**-**
**-**
**-**
**59,109**
_59,109_|**Hangars**
**£**
**258,514**
**-**
**258,514**
**55,150**
**3,447**
**58,597**
**199,917**
_203,364_|**Huts and**
**buildings**
**£**
**155,997**
**-**
**155,997**
**33,482**
**2,080**
**35,562**
**120,435**
_122,515_|**Site**
**improvements**
**£**
**60,853**
**-**
**60,853**
**49,963**
**1,577**
**51,540**
**9,313**
_10,890_|**Bridge**
**£**
**22,807**
**-**
**22,807**
**13,732**
**454**
**14,186**
**8,621**
_9,075_|**Plant and**
**machinery**
**£**
**57,687**
**9,962**
**67,649**
**36,821**
**3,856**
**40,677**
**26,972**
_20,866_|**Total**
**£**
**614,967**
**9,962**|
|---|---|---|---|---|---|---|---|
||||||||**624,929**|
||||||||**189,148**
**11,414**|
||||||||**200,562**|
||||||||**424,367**|
||||||||_425,819_|
Page 17
**NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **11. Heritage assets**
## **Assets recognised at cost**
|Carrying value at 1 January 2025
**Analysis of heritage asset transactions**
**2025**
**£**
**Purchases**
Lightning cockpit
-
**Total additions**
-
**12.**
**Stocks**
Paint stocks and goods for resale
**13.**
**Debtors**
**Due within one year**
Other debtors
Prepayments and accrued income
Grants and legacies receivable|**2024**
**£**
-
-|**2023**
**£**
-
-|**Exhibits**
**2025**
**£**
13,068
13,068
**2022**
**£**
13,068
13,068
**2025**
**£**
**7,537**
**2025**
**£**
**83**
**4,794**
**32,947**
**37,824**|**Total**
**2025**
**£**
**13,068**|
|---|---|---|---|---|
|||||**13,068**|
|||||**2021**
**£**
-|
||||||
|||||-|
|||||_2024_
_£_
_7,888_|
|||||_2024_
_£_
_125_
_4,982_
_-_|
||||||
|||||_5,107_|
Page 18
**(A company limited by guarantee)**
## **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **14. Creditors: Amounts falling due within one year**
|Trade creditors
Accruals and deferred income
**15.**
**Statement of funds**
**Statement of funds - current year**
**Balance at 1**
**January**
**2025**
**£**
**Unrestricted funds**
**Designated funds**
Site development
**60,922**
**General funds**
General funds
**482,664**
**Total Unrestricted funds**
**543,586**
**Restricted funds**
Hangar one
**20,925**
Hangar two
**145,426**
Site improvements
**1,002**
Collection Development
**6,848**
WW1 leather flying coat
**-**
Bloodhound restoration
**-**
**174,201**
**Total of funds**
**717,787**|**2025**
**£**
**561**
**5,275**
**5,836**
**Income**
**£**
**Expenditure**
**£**
**-**
**-**
**184,092**
**(130,132)**
**184,092**
**(130,132)**
**-**
**(355)**
**-**
**(2,465)**
**-**
**(1,002)**
**1,618**
**(8,466)**
**7,488**
**(4,785)**
**900**
**-**
**10,006**
**(17,073)**
**194,098**
**(147,205)**|_2024_
_£_
_1,486_
_3,431_|
|---|---|---|
||||
|||_4,917_|
|||**Balance at**
**31**
**December**
**2025**
**£**
**60,922**|
|||**536,624**|
|||**597,546**|
|||**20,570**
**142,961**
**-**
**-**
**2,703**
**900**|
|||**167,134**|
|||**764,680**|
Page 19
## **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **15. Statement of funds (continued)**
## **Restricted funds**
The Hangar and Site Improvements funds represent monies received by the company to erect and maintain the various properties referred to.
The Equipment fund represents monies provided for the purchase of equipment.
The Adair Walk fund represents donations made for improvements to the Adair Walk.
The Collection Development Fund represents the proceeds from the sale of artifacts which must be spent on further development of the collection.
The WW1 leather flying coat fund represents grants and donations made for the conservation of the World War One leather flying coat.
The Bloodhound restoration fund represents grants reecived for the restoration of the Mark 1 Bloodhound and its associated mobile radar transmitter.
Where restricted funds are spent on the purchase of fixed assets where the asset is held for a general and not a restricted purpose, a transfer is made from restricted to unrestricted funds for the corresponding amount.
## **Designated funds**
The Site Development Fund represents the funds set aside by the trustees for development of the site at Flixton and includes the unspent funds resulting from legacies received in 2022 and 2024.
Page 20
**(A company limited by guarantee)**
## **NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **15. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
Site development
**General funds**
General funds
**Total Unrestricted funds**
**Restricted funds**
Hangar one
Hangar two
Site improvements
Adair Walk
Collection Development
**Total of funds**|_Balance at_
_1 January_
_2024_
_£_
_40,569_
_485,987_
_526,556_
_21,280_
_147,891_
_2,007_
_3,000_
_3,696_
_177,874_
_704,430_|_Income_
_£_
_25,000_
_125,781_
_150,781_
_-_
_-_
_-_
_-_
_3,319_
_3,319_
_154,100_|_Expenditure_
_£_
_(4,647)_
_(129,104)_
_(133,751)_
_(355)_
_(2,465)_
_(1,005)_
_(3,000)_
_(167)_
_(6,992)_
_(140,743)_|_Balance at_
_31_
_December_
_2024_
_£_
_60,922_|
|---|---|---|---|---|
|||||_482,664_|
|||||_543,586_|
|||||_20,925_
_145,426_
_1,002_
_-_
_6,848_|
|||||_174,201_|
|||||_717,787_|
Page 21
**NORFOLK & SUFFOLK AVIATION MUSEUM LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **16. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2025**
**£**
Tangible fixed assets
260,836
Heritage assets
13,068
Current assets
329,478
Creditors due within one year
(5,836)
**Total**
597,546|**Restricted**
**funds**
**2025**
**£**
163,531
-
3,603
-
167,134|**Total**
**funds**
**2025**
**£**
**424,367**
**13,068**
**333,081**
**(5,836)**
**764,680**|
|---|---|---|
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Heritage assets
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2024_
_£_
_258,466_
_13,068_
_276,969_
_(4,917)_
_543,586_|_Restricted_
_funds_
_2024_
_£_
_167,353_
_-_
_6,848_
_-_
_174,201_|_Total_
_funds_
_2024_
_£_
_425,819_
_13,068_
_283,817_
_(4,917)_
_717,787_|
|---|---|---|---|
## **17. Pension commitments**
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £Nil (2024 - £120). There were no contributions payable to the fund at the balance sheet date (2024 - £Nil).
## **18. Related party transactions**
The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 31 December 2025.
Page 22