COMPANY REGISTrATION NO. 1667506 KENT BAITLE OF BRITAIN MUSEUM TRUST UMITED UNAUDITED REPORT AND ACCOUNTS YEAR ENDED 31 DECEMBER 2023
KENT BATTLE OF BRITAIN MUSEIJM TRUST LIMITED CONTEPITS PAGE Inf(ymotM)n Truslees, Rep Independent ExomirEr5' Rep(xl statem6nt ol financial Activities Bolonce Sheel Noles to the Accounts 8-11 Detoiled Profit and Loss Account 12
KENT BATfLE OF BRITAIN MUSEUM TRUST UMFfED INfORMATION Directc D A Brocklehursl. MBE R Windrow D T Sutton E H¢Thkes J Richard50n (Appointed 18106120231 Compony Secrelory P B Giiffilhs. FCA Solicitors Hollett & Co SoOI0r$ I l Bonk Street A5hfc(d Kent TN23 1 DA Accountants Charcroft Baker LLP Ch¢]rtered Accounlonts ond Registered Auditors 5 Wesl Court Enlerpri5e Road Maidslone Kent ME15 6JD Bankers National Westminster Bank PIC POBox4 Moidstone Kent ME14 IXU Regtstered Office H¢3wkinge Airffield A0drOMe Road Hawkinge Nr Folkestone Kent CT18 7AG Registered in England No: 1667XJ6 Regslered Chority.. 2857 Poge I
KENT BAME OF BRITAIN MUSEUM IRUST UMITED TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS. REPORn FOR THE YEAR ENDED 31 DECEMBER 2023 The tnJslee5 present Iheir annual rewl with the financh21 statements of the comFX]ny for Ihe year ended 31 December . Legol ond adm151Te delolls The comF)ony wos incorpoTated on Ihe 27th September 1982 as a Privote Limited Company- a company limited by guarantee and govemed by its memorondum and articles of association. The compony b o chorfty regtstered th the Chtjity Commission. number 285738. The museum is located ot: Hovthnge Aiffidd, Aerodrome Road. HaVInge, Nr Folkeslone. Kent. ObJ•thm (JKI aetlvlll•¥ The objective of the compony is to odvonce tt)e educalion of the pvblic by eslablishing a museum for the exhibitFon ond preswotion of aircraft and oeronoutical equipment of historical ond technical interes1. particularty from the rst ond Second Wortd Wars, ond specialising in tt)e Bottle of Britain period. Kenl Battle of BrFloin Museum Trust's objectives and oclivilies are 501dy for the benefit of Ihe pubknc. The dtorS have hod due regard to guidance pUblhed by the Chority Commission. Revl•w of th• y• The Truslees are pleosed lo rep 11)al the museum continues to be finonciomy viable and continues to imFKove ond expond. Work on the Blenheim ond tt)e Heinkel Bomber contiThJed ond wilh the help from specialists, we ore embarking on *he constnJclion of a Wesland WhInd oirfrome. We have continued to exFX]nd the musevm's collech'on with some major purchase5 including 0 1943 Double Decker Bus. a George Vl telephone boL o Spiifire cockpit and some rare RAF and Geman uniforms. To compliment thè 'SpMt of the Few, mernorial we hove commissioned o further memoriol 'The Last of the Few,. a lribule to GTOUP Coptoin John 'Paddy' HerninV0Y the lost known survivor of the 'Few'. He Ined 105 ye(rs old on 17m Juty 2024. Rnonclal stalvs AdMiSOn fees income have increased from £99,469 to £1 17.756 Ihis year. Donations have decreosed from £29.782 to £4.IW due to the cessotion ol Council Covid grants. Administrolive costs have $ghtty Fncreased from £76,158 to £79,870 but all remain al a $otisfaclory level. The Trustees ore pleased to report a $pIUS of £52.235 f(y the year. The detailed results of operations ore shown in the Slotemenl of financial Acthvitles on page 6. The Trustees consider Ihot tt)e ch¢ty'S tUation shown on page 6 is 5athsfactory. Poge 2
KENT BAME OF BRITAIN MUSEUM TRUST uMrrED TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS. REPORI) FOR THE YEAR ENDED 31 DECEMBER 2023 Flnanclal gtrjlvs (conllnu•d) The Museum conthnve5 to hold investments in shares bequeathed by a fomer volued 5UPPC*ter of the museum. Mr P.J. Rich¢Jdson. As shown in the accounts, the morket volue of these investments vories, txjl the Trustees befieve thal the reduction in gowth is lemporory and inlend to reloin invethnents for Ihe benefit of fuhKe 0W1h and dividend potentiol. The accounts do not reflect any volues fcf donoled ossets. Rjrthermore. the Trustee5 consider that the market volue of pvrch¢)sed exhibits. shown in the accounts ol cost of £570,026, substontiolly excee(ts this cost. Futur• plans The locol Councl Dtstrict Plon now been pvljished and it shows porcels of lond thol have been ollocated lo tt)e Museum. We are currenty in negotiation wlh the Council as to the exact locotion and OMInI of k]nd ¥rtwch will Ld Museum expansion. R•s•ry pomcy Cvrrenl unrestricted ieserves amount to £1.253.935 These ore held in a mixture of exhibits, land & buildings. inveslments and cash. Rlsk ass•ssm•nt The Trustees hove reviewed the rnai risks Io v4hich the chcrrty is exposed and ore sotlslied thol procedures are in place to mitigote these risks. Dlr•clors The Trustees, who are oLso Direct of the compony (Ye shown on Poge l. The dlrectors ore nol subjecl lo retirement by rotalion. None of the DirectCrf5 recelved any remuneration during the year. TNstr••s' RPonsIbIlI11•S Compony and charity law reqvwes the Truslees lo ryepcre finoncial statements, which give a true ond lair view ol the slote of offoir5 of the company and of the profil or 1055 of the company for that period. In Flep¢n9 those finoncid slatements the trustees are required to: select suitable accounting policies and then oppty them constslenmy: make judgments and estimates Ihot ore re0sonale ond Fyudent: prepcxe the financial stolements on a g¢ing concem bosis vnless il Is inoppropriote to presume Ihol the Company's bv%nes5 will conlinue; keep adequate accovnling records thal are sufficient to show and explain the company's tronsoclK)ns and disckjse wilh reosonoble accuracy at any time the finonciol posttion of the company ond Ihol enable them to ensure thal Ihe ffnanctal statements compty wilh the Companies Act: resF)onsible for the moinlenance ond inlegrity of the corporate and financiol inf(wmolion included on Ihe compony's website. Page 3
KENT BAME OF BRrrAIN MUSEUM TRUST UMifED TRUSTEE5' ANNUAL REPORT (INCIUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 Smol company speclol provlslons The report ol the Trustees hos been prepared in accordance wth the Stotemenl ol R8comm8nded Praclice and the 5moll company regime Isection 419121 ol the Componies Act 20061. Approved by the Board. including in their copacity 0$ company directors, and signed on beholl of the Board. P B Grlfflths. FCA S•cretary Page 4
INDEPENDENT EXAMINERS. REPORT TO THE BOARD OF DIRECTORS ON THE UNALIDITED ACCOUPIIS OF KENf BATILE OF BRITAIN MUSEUM TRUST UMifED FOR THE YEAR ENDED 3151 DECEMBER 2023 I report on the occovnls of Ihe company for Ihe yeor ended 31 December 2023 which are Set oul on Fxjges 6 to I l. The Trustees Iwho are also the dIrectcS of the compony fcK the ppOSeS of company lawl are responsible for the preparation ol the accounts. The Trustees consider thol an audit 15 nol reqvwed lor Ihi5 year under section 144121 of Ihe Chorities Act 2011 (the 2011 Act) and thol an independent examinotion needed. Having sotisfied myself thot ch(Yity is nol sufy'ecl to audit under Part 16 of the Companies Act 3J)6 and 15 eligible for independent examination. it my responsibility exomine the occovnts under section 145 of the X)I l Act: lo follow Ihe procedures loid down in the General Dwections given by the Charity Commi5SK)n Undef section 14515llbl of the l Act., and to state whether pcjlicvlcx motters hove come to fXK omenlion. My examinolion was caThied out in acc¢ydance with Ihe Generol Directions given by the Charity Commission. An examination includes a review of the occounting Tecords kept by the charity and o comporison of the occounls presented wilh those records. 11 olso inclvdes considefotion of ony unusvol ilem5 or disclosures in the occounts, ond the seeking of explonalions from you as Irustees conceming ony such matters. The procedures undertaken do not provide oll the evidence Ihal would be required in on audit ond. consequently, no opinion is given as to vlhether the occounts present a 'true ond foir view, ond Ihe rewl is limited to those matters sel out in the 5talement below. In connection with my exam1rtiQn, rK) maller has come lo my attenti¢)n". ol whlch J'ves me reasonable covse to believe that. in any molerid respect, the requirements: lo keep occounling records in aCCdanCe Vth seclion 396 01 the Componies Act 2(K)6.' and to prepore accounts which accord wtt) tt)e accounting records. compty with the accounting reqvirements of seclion 396 of the Companies Act XQ6 hove not been met. or ore nol COnlent vth Ihe Ch(rrilies SORP IFRS 1021: or bl to which. in my opinion, attention shId be drawn in order lo enable a proper understanding of Ihe accounts to be reoched. Michael Baker BA FCA On behalf of Chorcroft Baker LLP Chartered Accovntonts and Statutory Aurfit(Ks 5 Wesl Courl Enterprise Rood Moidstone Kent ME15 6JD Dale: L?£ £Lr Page 5
KENT BATTLE OF BRITAIN MUSEUM IRVST LIIAITED STATEMENT OF FINANCIAL AcnvmES FOR THE YEAR ENDED 31ll DECEMBER 2023 2023 2022 TURNOVER 117,756 99.469 Administralive expenses 79.870 76.158 37.886 23.311 Gainlllossl on revaluatton of investments 16601 Donotions and legocies 4.ieii 29.782 Income from inveslments 3.215 2.936 other operaling income 6.911 Nel income I lexpenditurel on ordin¢Jy activities before ond oflw loxotion 52.235 62.280 Unrestricted Fund5 Brought Ford 1.201.71X) 1.139,4XI Unreslricted Funds C+JThed FOrwd 12 1.253,935 I.l.7¢Xl Poge 6
KENT BAME OF BRITAIN MUSEUM TRUST UMITED BALANCE SHEET AS AT 31Sf DECEMBEtt 2023 Nol 2023 2022 FIXED ASSEYS Museum Exhibits Memorial Planl & Equipment Land & Buildings 570.026 183.4 27.451 138.158 482.6elJ 168.3Q) 3.193 138.158 919.115 792.331 CURRENT ASSETS Inveslments Cash ol bank ond in hond 59.682 293.526 367,041 425,069 CREDITORS: Amoun15 falling due thIn one year 18,388 15.7 NEY CURRENT ASSErs 334.8x1 409.369 TOTAL ASSETS LESS CURRENT LIABILITIES 1.2S3.935 1.201.7C() CAPITAL AND RESERVES Shar• Capttal Unrestricted lunds Foir value reserve 1.291.165 I37.21 1.240,584 138.8841 TOTAL UNRESTRICTED FUNDS 1.253.935 1.201,7CQ Footnote5: PTO Page 7a
KENT BATllE OF BRITAIN MUSEUM TRUST UMITED BALANCE SHEET AS AT 315F DECEMBER 2023 The company is entiled to exemption Irom audit under Section 477 of Ihe Companies Act 2006 for Ihe yeor ended 31 December 2023 The members have not required the company to obtain an ovdil of its finoncial 5*otement5 f(x the year ended 31 December 2023 in accordanc& wth 58clion 476 of the Componies Act 2(X)6. The Twslees acknowledge Ihe¥ responsikyllie5 for. ensuring that the company keeps occc4Jnting records which cornp wilh Section 386 and 387 01 the Companies Acl 20 and preparing financiol statements which gNe a true and fair view ol the stale ol affairs on the company as Ot Ihe end ol each financial yeor and ol ils profit ond loss for eoch finonciol yeor in occordonce with the requirements of Section 394 ond 395. ond which otheTh¥ise comply wlh Ihe requirements ol the Companies Act 2C06 relating lo financial slalements. $0 for 05 opplicable to the compony. bl These financial slotements have been prepared in accordance with Ihe special provisions of Port 15 01 the Componie5 Act XN)6 relating to small companies and wlh the Financial Reping Slandord appcOble in the UK and Repvblic of Ir8lond IFRS 1021. The finonciol stol8menls were approved by the Tiustees on....... ond were signed on its beholf by.. O A 8rocklehursl. MBE Trustee l Director Poge 7b
KENT BATfiE OF BRITAIN MUSEUIA TRUST UAIITED NOTES TO THE ACCOUNTS YEAR ENDED 31d DECEMBER 2023 STATUTORY INFORMATION Kent Battle of Britain Museum Trust Limited is o private comF)ony. limited by guarantee. registered in Englond ond Wales. The company is also a charity regi5teTed wth the Charity Commission. The company's registered office, company number and charity number con be found on the infomotion page. ACCOUNTING POLICIES The financial statemenls have been ryepared under the histoal cost convention and in accordance wilh the nonC101 Reporting Slandard opplicable in the UK ond RepU1C of Irelond IFRS 1021 leflective l Jonvory 20151. the Componies Act 2C06 and the Stalement of.Recommended Proctice: Accounting and Rewling by Chorilies IFRS 102 SORPI. Kenl Bathe of Britain Museum Trust Limited meets the definition of a public benetit entity under FRS 102. The Financial Statements have been prepored on an occnjols t)oys and include income ond expenditure 0$ they are ecmed (x incurred. rather thon os cash is received or paid. Deprecialion - FLxed Assets ore depreciated at rates colculoled lo wrfte them off over their estimoted lives os follows.. Plant & Equipment 25% of n8t b¢)ok value No depreciotion hos been provided in respect of freehold buildings. In the opinion of the Truslees the residvol volue. being the amount that the compony would currentty obtoin from the disposol ol the freehold buildings, after deducting the estimaled costs of disposol ond if the propety were ol Ihe age and in the condilion expecled al the end of its uselul life. is not malerially different lo the omount included in the financial statements and as such any depreciolion amount W¢)vld be immoterid. No depreciation hos been provided on musevm exhibits and tt)e memorial os the Directors consider thol, having regard to the nalure ol this class of 0$5els, their useful economic life and reydual value. any depreciolion would be immotal. The Trustees believe that the current value of exhibits substantially exceeds the omounl shown 05 Cost in these occounts. The company has taken odvonlage of the exemption under FRS 102 not to prepare a cash fk)w slatemenl. os the company qvolifies as a smoll compony. Turnover represents museum admL5%0n fees. Frxed 0$5el inve51ments in quoted shores ore meosured initiolly at cosl and subsequentty at fair volve Imorket value) al the rep(xling date. There are no material uncertainties aboul the cknties ability lo continue as a going concem. Page 8
KENT BAITLE OF BRIYAIN MUSEUM TRUST UMITED NOTES TO THE ACCOVNTS (Contlnuod) YEAR ENDED 31ST DECEMBER 2023 EMPLOYEES AND DIRECTORS The averoge number of employ d)g Ihe year wa5 I122. 11. PROFIT ON ORDINARY ACTivinES 2023 2022 Profil on ordinary activilies is staled after charging: Depreciation on Owned Assets 4.378 1.064 Diiectors, Emoluments: No Direct of the Compony received ony rernneration during the period. TAXAnoN The compony is o regislered charity. Consequenlly. it ts exempt from cfxporalion lax in respecl of its trading income ond injerest received. TANGIBLE ASS$ Frhold Land & Exhlblh Bulldlngs Plant & M•morf(4 Eqvlpm•nl Total Cost Al 151 Jonuory 2023 Additions Disposols 1&3,198 482.6P 87,346 i68,X 15.IE 23,955 28.636 858,133 131,162 Al 31 sl December Xi23 183.198 570.026 183.480 52.591 989,295 Depr•¢lollon At 1st January 23 Chorge the yeor Disposals 20.762 4,378 65.802 4.378 At 31st December 2023 45,040 25.140 70.ie£i N•t Book Value Al 315t December 2023 138,158 570.026 27.451 919,115 At 3151 December 3)22 139.159 482. 169.3)) 3.193 792.331 Poge 9
KENT BALE OF BRrrAIN MUSEUM TRUST LFMITED NOTES TO THE ACCOUNTS {Conllnved) YEAR ENDED 3151 DECEMBER 2023 CURRENT ASSEI INVESTMEPIIS 2023 2022 Listed Inve5trnents 59.682 58.028 CREDITORS Amounts falling due within one ye(x 2023 2022 Accruais and Credit(ys 18.388 15,7 SHARE CAPITAL The Company is limited by gu(ffontee and Iherefore hos no shore copltal. io. CAPITAL COMMrrMENTS AND CONTINGENT UA8iullES The Trvslees consider that there were no liabilities under this heoding at the Balance Sheet date. requiring disclosure other Ihon those creoted by normal trading operolions. Poge 10
KENT BAME OF BRrrAIN MUSEUM TRUST UMITED NOTES TO THE ACCOVNTS (Contlnued) YEAR ENDED 31ST DECEMBER 2023 MOVEMENT IN IEEStRVES Falr Volvo R•seNe Relolned Eomings UnT•sMeled Fvnds Bolonce (* l Janvory 2022 1.177.644 (38.224) 1.139.420 Profit 62.2 62.28 Transfer to faw value resefve 660 Bolonc• ol 31 D•¢•mb•r 2022 1240.584 (38,884) 1.201.700 Profit 52.235 52.235 Tronsfer lo faK vofve reserve 11.6541 balanc• a131 D•¢•mb•r 2023 1291.165 (37230) 1.253.935 12. TRANSACTIONS WITH TRUSTEES During the year. D Brocklehursl was reimbursed by the charity for expens6s incurred on behalf of Ihe Choiity rdating to pcryments for materiols l exhibits, printing & stothonery and travel costs. The tolal amount reimbursed wos £15.38812)22: £13.71X)I. Pagell
KENT BAME OF BRITAIN MUSEUNI TrUST UMITED DETAILED PROFIT AND LOSS ACCOUNT YEAR ENDED 31ST DECEMBER 2023 Noles 2023 2022 Turnovor. AdMilOn fees 17.756 99,469 Galnlloss on rev¢allOn ol assets GoinllLossl on revoluotion of inveslments 1.654 16601 ADMINISTRAIIVE EXPENSES Tronsport ond Equipment hré Slaff Wages Repairs and mointenonce Electricity Rent ond Rales stationary, postoge and telephone Advertising Insurance Accoun*ancy and tM)okkeeping Bank charges Depreciation Sundry 21.040 15,884 10,957 10.538 3.105 2,250 1.414 5,341 4.220 332 1.064 13 21.7x1 8.158 73.768 2.311 3.317 270 4.378 79,870 76,158 39,540 22,651 other operoling income: Donalion5 Interest receivabie Dividends G¥onts receivable 4.1 29.782 1.613 2.936 5.298 3.215 12.695 39.629 PROFIT FOR FINANCIAL YEAR TRANSFEIIIED TO RESERVES 52.2&5 62.280 Page 12