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|Report ofthe Trustees|1|to|7|
|---|---|---|---|
|Independent
Examiner's
Report||||
|Statement ofFinancial Activities||||
|Balance Sheet|10|to|11|
|Notes to the Financial Statements|12|to|21|
|Detailed Statement ofFinancial Activities|22|to|23|
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|||||2020|2019|
|---|---|---|---|---|---|
|||||Unrestricted|Total|
|||||funds|funds|
||||Notes|||
|INCOME|AND ENDOWMENTS FROM|||||
|Donations|and legacies|||16,846|42,701|
|Charitable|activities|||||
|Restoration|and associated costs|||19,517||
|Other trading activities||||74,528|132,713|
|Investment|income|||1,859|1,330|
|Total||||112,750|176,744|
|EXPENDITURE ON||||||
|Charitable|activities|||||
|Restoration|and associated costs|||158,334|208,189|
|Other||||2,650|2,600|
|Total||||160,984|210,789|
|NET INCOME/(EXPENDITURE)||||(48,234)|(34,045 )|
|RECONCILIATION||OF FUNDS||||
|Total funds brought||forvvard||2,393,067|2,427,112|
|TOTAL FUNDS CARRIED FORWARD||||2,344,833|2,393,067|
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|||2020|2019|
|---|---|---|---|
|||Unrestricted|Total|
|||funds|funds|
||Notes|g|f,|
|FIXEDASSETS||||
|Tangible assets|12|73,080|81,914|
|Heritage
assets|13|1,979,025|1,979,025|
|||2,052,105|2,060,939|
|CURRENT ASSETS||||
|Stocks|14|6,091|6739|
|Debtors|15|9,098|22,203|
|Cash at bank and in hand||290,603|316,317|
|||305,792|344,759|
|CREDITORS||||
|Amounts
falling due within one year|16|(13,064)|(12,631)|
|NET CURRENT ASSETS||292,728|332,128|
|TOTAL ASSETSLESSCURRENT||||
|LIABILITIES||2,344,833|2,393,067|
|NET ASSETS||2,344,833|2,393,067|
|FUNDS|18|||
|Unrestricted
funds.||||
|General
fimd||378,469|426,703|
|Revaluation
reserve||1,966,364|1,966,364|
|||2,344,833|2,393,067|
|TOTAL FUNDS||2,344,833|2,393,067|
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|DONATIONS
AND LEGACIES|||
|---|---|---|
||2020|2019|
||f,|6|
|Gifts|1||
|Donations|11,734|38,764|
|Subscriptions|5, 1 1 1|3,937|
||16,846|42,701|
||||2020|2019|
|---|---|---|---|---|
|Receipts in year (renewals
and new members)|||3,607|4,069|
|Released deferred income from|previous|year|2,841|2,709|
|Income deferred to the following|year||(1,337)|(2,841)|
|Subscription
income recognised|in year||5,111|3,826|
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||||2020|2019|
|---|---|---|---|---|
|Fundraising|events||1,260|48,221|
|Bookshop,|canteen|A, other sales|33,268|44,656|
|Recharges||||1,086|
|IWM Concorde fees|||40,000|38,750|
||||74,528|132,713|
||||||||
|---|---|---|---|---|---|---|
|5.|INVESTMENT INCOME||||||
||||||2020|2019|
||Deposit account interest||||1,859|1,330|
|6.|CHARITABLE ACTIVITIES|||COSTS|||
|||||||Direct|
|||||||Cosh (see|
|||||||note 7)|
||Restoration|and associated costs||||158,334|
||DIRECT|COSTS OF CHARITABLE ACTIVITIES|||||
||||||2020|2019|
||Staff costs||||95,267|85,637|
||Insurance||||14,105|14,148|
||Equipment|repairs, maintenance||and fuel|9,770|32,163|
||Selling costs||||2,246|4,764|
||Members'|events|||130|20,938|
||Airshows||||1,938|4,549|
||Stationery,|communications|and|marketing|3,531|8,594|
||Bank charges and interest||||5,348|1,736|
||Travelling||||705|7,060|
||Miscellaneous
office costs||||11,456|11,254|
||Donations|||||70|
||Goods for|resale|||1,875|454|
||Office and|yard rent|||3,129|970|
||Depreciation||||8,834|15,818|
||Exceptional
items|||||34|
||||||158,334|208,189|
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||||2020|2019I|
|---|---|---|---|---|
|Depreciation|- owned assets||8,834|15,698|
|Independent|Examiner's|fee|2,650|2,600|
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|STAF|F COSTS|||
|---|---|---|---|
|||2020I|2019|
|Wages|and salaries|92,325|81,521|
|Social|security costs|1,627|2,760|
|Other|pension costs|1,315|1,356|
|||95,267|85,637|
||2020|2019|
|---|---|---|
|Aircratt restoration|1|1|
|Miliary Vehicles restoration|1|1|
|Administration|2|2|
|Aircraft stewards|8|8|
|Military Vehicles drivers|1|1|
||13|13|
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|COMPARATIVES F|ORTHK STATEMENT OF FINANCIAL ACT|IVITIES|
|---|---|---|
|||Unrestricted|
|||funds|
|INCOME AND ENDOWMENTS FROM|||
|Donations
and legacies||42,701|
|Other trading activities
Investment
income||132,713
1,330|
|Total||176,744|
|EXPENDITURE ON|||
|Charitable
activities|||
|Restoration
and associated costs||208,189|
|Other||2,600|
|Total||210,789|
|NET INCOME/(EXPENDITURE)||(34,045)|
|RECONCILIATION|OF FUNDS||
|Total funds brought|forward|2,427,112|
|TOTAL FUNDS CARRIED FORWARD||2,393,067|
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|TANGIBLE FIXEDASSET|S|||||
|---|---|---|---|---|---|
|||Aircraft||||
|||and|Fixtures|||
||Short|display|and|Motor||
||leasehold|equipment|fittings|vehicles|Totals|
||6||I,|f,||
|COST||||||
|At 1 January 2020 and
31December 2020|42,261|304,546|74,104|8,384|429795|
|DEPRECIATION||||||
|Atl January 2020
Charge for year|6,278
1,878|279,816
5,063|53,151
1,800|8,136
93|347,381
8,834|
|At 31 Deceinber 2020|8, 1.56|284,879|54,951|8,229|356,215|
|NET BOOKVALUE||||||
|At 31 December 2020|34,105|19,667|19,153|155|73,080|
|At 31 December 2019|35,983|24,730|20,953|248|81,914|
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|HERITAGE ASSETS||
|---|---|
||Total|
|MARKET VALUE||
|At 1 January 2020 and 31 December 2020|1,979,025|
|NET BOOKVALUE||
|At 31December 2020|1,979,025|
|At 31December 2019|1,979,025|
##
||M~III
V|hl||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2020||2019||2018|2017||2016||
||||||||||||8|||||||
||Purchases||||||||||||||||11,775|
||Disposals|||||||||||||||||
||In common|with|the|Aircraft|noted|above,|due|to the||accounting||system|change|on
1|January||2015,|
||revaluations|had|been|carried|out under|the old accounting||||framework,||these|were converted||to deemed||cost|
||the adoption|ofFRS102.||||||||||||||||
|14.|STOCKS|||||||||||||||||
|||||||||||||||2020||2019||
|||||||||||||||f||||
||Finished goods|||||||||||||6,091|||6,239|
|15.|DEBTORS:AMOUNTS FALLING DUE WITHIN||||||||ONE|YEAR||||||||
|||||||||||||||2020||2019||
||Trade debtors|||||||||||||175||13,836||
||Other debtors|||||||||||||8,923|||8,367|
|||||||||||||||9,098||22,203||
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|CREDITORS|: AMOUNTS FALLING DUE WITHIN O|NE YEAR||
|---|---|---|---|
|||2020|2019|
|Trade creditors||2,811|1,114|
|Social security|and other taxes|874|1,574|
|VAT||4,975|4,087|
|Other creditors||187|415|
|Accruals
and deferred income||4,217|5,441|
|||13,064|12,631|
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|MOVEMEN|T IN FUNDS||||
|---|---|---|---|---|
||||Net||
||||movement|At|
|||At 1/1/20|in funds|31/12/20|
|||||6|
|Unrestricted|funds||||
|General fund||426,703|(48,234)|378,469|
|Revaluation|reserve|1,966,364||1,966,364|
|||2393067|(48434)|2,344,833|
|TOTALFUNDS||2,393,067|(48,234)|2,344,833|
|Net movement|in funds, included
in the abov|e are as follows;|||
|---|---|---|---|---|
|||Incoming|Resources|Movement|
|||resources|expended|in funds|
||||6|f.|
|Unrestricted|funds||||
|General fund||112,750|(160,984)|(48,234)|
|TOTAL FUNDS||112,750|(160,984)|(48,234)|
##
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||||Net||
|---|---|---|---|---|
||||movement|At|
|||At I/I/19|in funds|31/12/19|
|Unrestricted|funds||||
|General fund||460,748|(34,045)|426,703|
|Revaluation|reserve|1,966,364||1,966,364|
|||2,427,112|(34,045)|2,393,067|
|TOTAL FUNDS||2,427,112|(34,045)|2,393,067|
||||Incoming|Resources|Movement|
|---|---|---|---|---|---|
||||resources|expended|in funds|
|Unrestricted||funds||||
|General|fund||176,744|(210,789)|(34,045)|
|TOTAL|FUNDS||176,744|(210,789)|(34,045)|
||||Net||
|---|---|---|---|---|
||||movement|At|
|||At I/I/19|in funds|31/12/20|
||||8||
|Unrestricted|funds||||
|General fund||460,748|(82,279)|378,469|
|Revaluation|reserve|1,966,364||1,966,364|
|||2,427, 1 12|(82,279)|2,344,833|
|TOTAL FUNDS||2,427,112|(82,279)|2,344,833|
|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|||8|||
|Unrestricted|funds||||
|General fund||289,494|(371,773)|(82,279)|
|TOTAL FUNDS||289,494|(371,773)|(82,279)|
##
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|||||2020|2019|
|---|---|---|---|---|---|
|||||8||
|INCOME|AND ENDOWMENTS|||||
|Donations|and legacies|||||
|Gifts||||1||
|Donations||||11,734|38,764|
|Subscriptions||||5,111|3,937|
|||||16,846|42,701|
|Other trading
activities||||||
|Fundraising|events|||1,260|48,221|
|Bookshop,|canteen &other|sales||33,268|44,656|
|Recharges|||||1,086|
|IWM Concorde fees||||40,000|38,750|
|||||74,528|132,713|
|Investment|income|||||
|Deposit account interest||||1,859|1,330|
|Charitable|activities|||||
|Grants||||19,517||
|Total incoming resources||||112,750|176,744|
|EXPENDITURE||||||
|Charitable|activities|||||
|Wages||||92,325|81,521|
|Social security||||1,627|2,760|
|Pensions||||1,315|1,356|
|Insurance||||14,105|14,148|
|Equipment|repairs, maintenance||and fuel|9,770|32,163|
|Selling costs||||2,246|4,764|
|Members'|events|||130|20,938|
|Airshows||||1,938|4,549|
|Stationery.|communications|and|marketing|3,531|8,594|
|Bank charges and interest||||5,348|1,736|
|Travelling||||705|7,060|
|Miscellaneous
office costs||||11,456|11,254|
|Donations|||||70|
|Goods for|resale|||1,875|454|
|Oftice and|yard rent|||3,129|970|
|Depreciation oftangible fixed assets||||8,834|15,818|
|Exceptional
items|||||34|
|||||158,334|208,189|
##
|||2020|2019|
|---|---|---|---|
|Charitable
activities||||
|Other||||
|Audit or examination|fees|2,650|2,600|
|Total resources expended||160,984|210,789|
|Net expenditure||(48,234)|(34,045)|