## |||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|