2020-10-31-accounts - De Havilland Aircraft Museum Trust Limited

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		Page
Chairman's Report
Trustees' Report
Independent Examiner's	Report
Statement ofFinancial Activities		10
Balance Sheet
Notes to the Accounts		12

			Year ended 31stO	ctober 2020
			Note	Restricted	Unrestricted	Total
Income						E
Donations and	legacies				48,049	48,049
Hangar Fundraising				340,621		340,621
Charitable Activities					173,989	173,989
Investments					83	83
				340,621	222,121	562,742
Expenditure	on:
Raising Funds				3,375	21,694	25,069
Charitable Activities				79684	172,942	252,625
				83,059	194,635	277,694
Net income				257,562	27,486	285,048
Transfers between		funds		3,114	(3,114)
Net Movement	in Funds			260,676	24,372	285,048
Funds Brought	Forward			1,640,203	774,473	2,414,676
Funds Carried	Forward			1,900,879	798,845	2,699,724

		2020	2019
Fixed Assets
Buildings	11	2,930,352	2,579,794
Plant &Equipment	11	19,109	24,426
Investments	12	1	1
		2,949,461	2,604,221
Current Assets
Debtors	13	18,390	10,930
Cash at bank and in hand		190016	133133
		208,407	144,063
Liabilities
Creditors falling due within one year	14	226,887	127,358
Net Current Assets		(18,481)	16,705
Creditors failing due afier more than one year	15	231,256	206,250
Total Assets less Current Liabilities		2,699,724	2,414,676
The Funds ofthe Charity
Restricted Income Funds	18	1,900,879	1,640,203
Unrestricted income Funds:	18	798,845	774,473
Total charity funds		2,699,724	2,414,676

De Havilland Aircraft Museum Trust Ltd Notes tothe Accounts Year ended 31stOctober 2020	De Havilland Aircraft Museum Trust Ltd Notes tothe Accounts Year ended 31stOctober 2020
1.Accounting Policies
	Charity Information
	De Havilland Aircraft Museum Trust Ltd isa private company limited by guarantee incorporated in England and	Wales. The registered		oNce	is Salisbury Hall,
	London Colney, StAlbans, Hertfordshire, AL2 1BU.
1.1	Accounting Convention
	The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounts and			Reporting		by Charities:
	Statement ofRecommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabie							in the		UK
	and Republic ofIreland (FRS102)"(as amended for accounting periods commencing from 1 January 2016). The charity is a		Public Benefit Entity as				defined			by
	FRS102. The accounts have been prepared under the historical cost convention with the exception ofinvetsments which are induded			at market value.
1.2	Going Concern
	At the time ofapproving the accounts, the Trustees have a reasonable expectation that the charity has adequate	resources to continue		in operational				existence for
	the foreseeable future. The Trustees therefore continue to adopt the going concern basis ofaccounting in preparing the accounts.
1.3	Charitable Funds
	Unrestricted Funds are available for use at the discretion ofthe Trustees in furtherance oftheir charitable objectives unless the funds have been designated									for
	other purposes.
	Where Restricted Funds have been provided to the charity for particular purposes, it is the policy ofthe Board ofTrustees to		carefully	monitor the application						of
	those funds, as and when received, in accordance with the restrictions placed upon them.
1.4	Incoming Resources
	Income is recognised when the charity is legally entitled to it aRer any performance conditions have been met, the amounts can be measured				reliably,			and it		is
	probable that income will be received.
	Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified ofthe donation,		unless	the performance					conditions
	require deferral ofthe amount. Income tax recoverable in relation to donations received under Gift Aid or deeds	ofcovenant is recognised at			the time		ofdonation.
	Legacies are recognised on receipt or otherwise ifthe charity has been notified ofan impending distribution, the	amount is known, and		receipt		is expected.				Ifthe
	amount is not known, the legacy istreated as a contingent asset.
	Grant Income is recognised at fair value when the charity has entitlement after any performance conditions have	been met, it	is probable that		the income will					be
	received and the amount can be measured reliably. Ifentitlement is not met then these amounts are deferred.
	Income from Charitable Activities and Trading Income are measured at the fair value ofthe consideration received or receivable for services				rendered,				and is
	recognised as the services are delivered.
1.5	Resources Expended
	All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all	costs related	to the category.			Expenditure is
	recognised where there is a legal or constructive obligation to make payments to third parbes, it is probable that	the settlement will be		required		and the			amount of
	the obligation can be measured reliably.
	Support costs are those that assist the work ofthe charity but do not directly represent charitable activities and indude office		costs, governance			costs,
	administrative payroll costs. These are incurred directly in support ofexpenditure on the objects ofthe charity.	Where support costs cannot			be directly				atbibuted
	to particular headings, they have been allocated to expenditure on charitable activities on a basis consistent with use ofthe resources.
1.6	Tangible Fixed Assets
	Tangible Fixed Assets are initially measured at cost and subsequently measured at cost or valuation, net ofdepreciation and		any impairment		losses.
	Depreciation is recognised soas to write offthe cost or valuation ofassets less their residual values over their useful lives on		the following bases:
	Freehold Properly - 2%on cost
	Plant and Machinery -at varying rates on cost
	Fixtures and Fittings -25'k on reducung balance
	Computer Equipment - 33%on cost
	The gain or loss arising on the disposal ofan asset is determined as the difference between the sales proceeds	and the canying value		ofthe	asset, and is
	recognised in net income/(expenditure) for the year.
1.7	Taxation
	The Charity is an exempt charity within the meaning ofSchedule 3ofthe Charities Act 2011 and is considered to pass the tests set out in Paragraph						1		Schedule 6
	Finance Act 2010and it therefore meets the degnition ofa charitable company for UK Corporation Tax purposes.
1.6	Pension costs and other post-retirement benefits
	The charity and its subsidiary company operate defined contribution pension schemes. Conributions payable to the pension schemes			are charged as				an expense
	as they fall due.
2.Critical Accounting Estimates and Judgements
	In the application ofthe Group and Charity's Accounting Policies, the Trustees are required to make judgements,	estimates and assumptions			about the				carrying
	amount ofassets and liabilities that are not readily apparent from other sources. The estimates and associated	assumptions	are based on historical				experience
	and other factors that are considered to be relevant. Actual results may differ from these estimates.
	The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period					in which			the
	estimate is revised where the revision affects only that period, or in the period ofthe revision and future periods	where the revision affects both				current		and future
	periods.
	Ithas been judged that the fair value ofall assets and liabilities is equal to book value, and a number ofestimates have been		made to	calculate		Accruals as				at 31st
	October 2020.

3.Donations	and Legacies	Unrestricted Funds	Restricted Funds	Total 2020	Total 2019
		6	E	f	E
From the estate	of L. Hugget	500		500	49,622
Donantion from	Breitling SA				30,000
Mosquito Aircraft	Museum
CSClients LLP		48,931		48,931
Other donations		1,382		1,382	22,320
		48,049		48,049	101,942

4.Hangar Fundraising	4.Hangar Fundraising	4.Hangar Fundraising	4.Hangar Fundraising	Unrestricted Funds	Restricted	Funds	Total 2020	Total 2019
							E	E
Heritage Lottery		Grant Received				336,098	336,098	1,507,386
Donations to Hangar			funding			4,523	4,523	13,176
						340,621	340,621	1,520,562
				Unrestricted
5.Charitable		Activities		Fundsf	Restricted	Funds	Total 2020	Total 2019 E
Grants and sponsorship				60,278			60,278	487
Admission fees				97,547			97,547	134,807
Supporters Subscriptions				5,320			5,320	3,715
Event Income
Special Events				3,391			3,391	7,248
Miscellaneous	income			96			96	304
Premises Hire for Filming etc				3,150			3,150	600
Other Revenue				4,206			4,206
				173,989			173,989	147,161
6.Raising Funds			Expenditure	Unrestricted Funds	Restricted	Funds	Total 2020	Total 2019
								E
Direct Costs				20,569		2,990	23,559	20,491
Staff Costs
Other Costs				1,125		385	1,510	1,039
				21,694		3,375	25,069	21,530
7.Charitable		Activities Expenditure		Unrestricted Funds	Restricted f	Funds	Total 2020 f	Total 2019 f
Direct Costs				98,187			98,187	84,285
Staff Costs				4,001		6,115	10,116	25,423
Depreciation						65,828	65,828
Share of support		costs		65,564		7,740	73,304	121,122
Share ofgovernance			costs	5,190			5,190	7,332
Total				172,942		79,684	252,625	238,163

8.Support Costs	8.Support Costs			Unrestricted Funds	Restricted Funds	Restricted Funds	Total 2020	Total 2019
				F			F
Support Costs
Rent				6,480			6,480	11,718
Rates				3,683			3,683	4,989
Premises- Repairs 8 Maintenance				9,555			9,555	15,207
Insurance				5,115			5,115	4,504
Light, Power, Heating				8,061			8,061	5,922
Cleaning				1,107			1,107	2,447
Telephone &Internet				6,131			6,131	9,505
ITSoftware and Consumables				858	3,041		3,897	248
IT Hardware Purchases				112		93	205	10,099
Special Event Hosting	Costs			575			575	11,807
Staff Training				200		857	1,057	1,734
Travel				55			55	42
Subscriptions				403			403	941
Charitable and Political		Donations						69
Awards								235
General Expenses				1,252		93	1,345	4,742
Bank Fees				8,347			8,347	3,066
Interest Paid				5,898			5,898	15,177
Depreciation Expense				6,314			6,314	15,505
Loss on disposal ofassets								3,165
Publicity &Promotion				579	2,	125	2,704
Increased Management		&Mantenance	Costs		1,531		1,531
Foreign Currency Profit/Loss				12			12
Health And Safety				827			827
Total Support Costs				65,564	7,740		73,304	121,122
Governance Costs
Audit &Accountancy	Fees			4,406			4,406	3,857
Professional Fees				784			784	3,476
Total Governace costs				5,190			5,190	7,332
Total				70,754	7,740		78,494	128,455

11.Tangible	Fixed Assets
				Plant and
		Freehold	Property	Machinery	Fixtures and	Fittings	Totals
				8	6
Cost
At 1st November	2019	2,628,772		122,141		2,875	2,753,788
Additions			416,386			997	417,383
Disposals
At 31stOctober	2020	3,045,158		122,141		3,872	3,171,171
Depreciation
At 1st November	2019		48,978	98,928		1,662	149,568
Charge for the year			65,828	5,803		511	72,143
Eliminated on disposals
At 31st October	2020		114,806	104,731		2,173	221,711
Net BookValue
At 31stOctober	2020	2,930,352		17,410		1,699	2,949,460
At 31stOctober	2019	2,579,794		23,213		1,213	2,604,220

19.Provision	19.Provision
Final accounts regarding		the building	works on the new	hanger are	not concluded		with a provision		induded	in the accounts ofE53,467.
20.Related Party Disclosure
Mosquito Aircraft Museum		Ltd is a 100%%downed trading		subsidiary.	A summary	of	the trading	results ofthis		company are:
											2020		2019
											E		E
Income from	shop and cafe											39,926	64,679
Cost ofsales												31503	43,413
Gross profit												8,423	21,266
Overheads												(25,916)	(28,564)
Donations													0
Net position												17493	7298
Shareholder	funds											8752	8,741