Digitally Signed Document Document ID: A954BABCB30FA7
## Document Details:
**----- Start of picture text -----**
R-C188- Companies House accounts for City of Norwich
Filename:
Aviation Museum.pdf
Client of: Haines Watts
Signature Details
Name: Kelvin Sloper
Email: kelvinsloper@yahoo.co.uk
Date & Time: 28/05/2022 10:35:58 (BST)
IP Address: 78.146.254.39
Kelvin Sloper agrees and approves the contents of this
Signing Statement:
document.
**----- End of picture text -----**
## Digital Certificate
The approved PDF file has been digitally certified. Please check the Digital Certificate information in your PDF viewer to verify the Digital Certificate authenticity and the PDF has not been tampered with.
**----- Start of picture text -----**
On behalf of: Haines Watts
PDF digital certificate: IRIS Software Group Limited
Digital certificate issued by: GlobalSign
**----- End of picture text -----**
Please keep a copy of this document for your records.
**REGISTERED COMPANY NUMBER: 01734164 (England and Wales) REGISTERED CHARITY NUMBER: 287745**
**Unaudited Financial Statements for the year ended 31 August 2021**
## **for**
## **City of Norwich Aviation Museum**
Haines Watts Rostrons Chartered Accountants Yare House 62-64 Thorpe Road Norwich Norfolk NR1 1RY
**City of Norwich Aviation Museum**
## **Contents of the Financial Statements for the year ended 31 August 2021**
**----- Start of picture text -----**
Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 18
**----- End of picture text -----**
**City of Norwich Aviation Museum (Registered number: 01734164)**
**Report of the Trustees for the year ended 31 August 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2021. The trustees have adopted the provisions of 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 statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 February 2016.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The charity's objective is the advancement of the education of the public by operating, maintaining and expanding a museum for the preservation and exhibition of aircraft and other exhibits relating to the aviation history of the county of Norfolk. All income raised by the charity is in pursuit of these objectives.
## **Public benefit**
The directors confirm that they have had due regard to the guidance on public benefit published by the Charity Commission, and that all main activities undertaken by the charity are for the public benefit.
## **Relationships and Co-operations**
The charity enjoys a close working relationship with the RAF 100 Group Association, exhibiting the collection gathered by this Association. There is no financial connection between the charity and the RAF 100 Group Association and the relationship was founded and is maintained on mutual objectives.
We have an agreement with RAF 74 Squadron Association that an exhibition of exhibits owned by them is displayed by the charity. We look forward to further co-operation with the 74 Squadron Association with future projects at the museum. There is no financial connection between the charity and this organisation.
Page 1
**City of Norwich Aviation Museum (Registered number: 01734164)**
## **Report of the Trustees for the year ended 31 August 2021**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The global COVID pandemic continued to have an effect on operations of the charity. Restrictions in place to control the spread of the COVID virus meant that for ten months of the period covered by these accounts, the Museum was either closed or only able to open on a limited basis. Whilst our income improved from that of 2019/20, it was reduced from anticipated levels.
Despite being faced with this challenge, we continued to make progress with the improvement and modernisation of facilities at the Museum.
Work was completed on the new building on which construction had started in October 2019.This facility provides a venue for meetings and other gatherings, a larger and better equipped refreshment facility as well as improving our archive storage and Museum office. When we were able to return to more regular opening in July 2021, we could make use of these improved facilities for the first time and they immediately proved to be of great benefit to our visitors, staff and supporters.
In late October 2020, we were pleased to add a significant aircraft to our collection. An Avro RJ85 was gifted to the Museum by City Jet becoming the first example of this aircraft type to be preserved by a UK aviation museum. This relativity modern passenger airliner fits within our collecting policy and gives our visitors an insight into recent developments in civil aircraft design and engineering. Moving this aircraft to the Museum premises from Norwich Airport involved an overnight closure of the adjacent Norwich Northern Distributor Road to allow it to be lifted by crane from the Airport to the road and then a second lift onto the Museum site. This was a major undertaking and we are grateful for the support for this operation provided by all parties concerned.
The Museum collection gained many import smaller items which were donated by our supporters. Work continues to update our records held on our MODES computer system to present day standards.
Restoration of our aircraft exhibits in 2020/21 was again limited by the need to adhere to COVID precautions. However, more work was able to be carried out than in the previous year and progress with various projects was made.
Restoration of water and electricity supply around our site was finally made in 2020/21. Delays in receipt of due compensation being made to us following the change in Museum site layout during construction of the NDR and the COVID pandemic resulted in this work being completed two/three years later than first expected.
Our volunteer members have again made great efforts to ensure that the Museum has been able to achieve a great deal during another challenging year. Organisations such as ours depend to a great extent on the efforts and goodwill from volunteers and the progress achieved in 2020/21 would not have been possible without the outstanding support of our members. We should note the support that members provided to allow the Museum to open on a limited basis at times whem COVID restrictions made this possible.
Our employed remained furloughed for the majority of the year under the Job Retention Scheme announced by the UK Government in March 2020, returning to their duties in July 2021. We are grateful for the support that both this scheme and the business recovery grants received have provided. We were greatly encouraged by the record number of visitors we welcomed to the Museum in July and August 2021 once more normal operation was possible.
We continue to plan further improvements to the facilities both in terms of buildings and general facilities at the Museum. Being able to move some of our aircraft exhibits under cover and improving restoration workshops remain medium to long term ambitions.
Page 2
**City of Norwich Aviation Museum (Registered number: 01734164)**
## **Report of the Trustees for the year ended 31 August 2021**
## **FINANCIAL REVIEW**
## **Financial position**
The trustees consider that the charity is in a strong financial position at the year end with total funds of £324,023 (31/8/2020 - £237,105).
## **Reserves policy**
The charity holds an accumulated fund of sufficient level to guarantee payment of the general expenses of operating the Museum for some time to come. There are is allocation in these funds for the future purchase of exhibits. The fund also exists to provide contingency funding in respect of grant aid projects should the need arise.
## **FUTURE PLANS**
Central to our future plans is to regain our Arts Council accreditation, lost prior to the start of construction of the Norwich Northern Distributor Road and the resultant situation concerning our lease on the Museum site. Work has continued to achieve this in the limited time that has been available to progress this.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is a company limited by guarantee, incorporated on 23 June 1983 and governed by its Memorandum and Articles of Association. The liability of each member in the event of a winding up is limited to £1.00.
## **Organisational structure**
All major decisions affecting the day to day running of the charity and those that will affect its future operation are taken at monthly directors meetings. A quorum of four directors is required for a meeting and if necessary, decisions are approved by a majority vote with the charity chairman having a casting vote.
## **Induction and training of new trustees**
New directors are recruited and trained by existing directors and are appointed by the members at Annual General Meetings. New directors are made familiar with their legal obligations under charity and company law, the contents of the charity's Memorandum and Articles of Association, the decisions making process and the recent financial performance of the charity. Directors are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
## **Risk management**
The directors continue to examine the major risks that the charity faces and have developed systems to monitor and control these risks and to mitigate any impact that they may have. Procedures are well established for the review and approval of financial transactions. These matters are subject to ongoing review and the directors are satisfied that systems are in place to mitigate the charity's risk exposure.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
01734164 (England and Wales)
## **Registered Charity number**
287745
## **Registered office**
Old Norwich Road Horsham St Faith Norwich Norfolk NR10 3JF
Page 3
**City of Norwich Aviation Museum (Registered number: 01734164)**
## **Report of the Trustees for the year ended 31 August 2021**
## **Trustees**
K Barwick G Hall (resigned 21.10.21) K C Sloper M Taylor R J Walden D N Waters C S Kerrison M Thirtle T R D Emms T H Eady
## **Company Secretary**
R Pointing
## **Independent Examiner**
Lewis Cooper FCA BFP Haines Watts Rostrons Chartered Accountants Yare House 62-64 Thorpe Road Norwich Norfolk NR1 1RY
## **EVENTS SINCE THE END OF THE YEAR**
Information relating to events since the end of the year is given in the notes to the financial statements.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 23 May 2022 and signed on its behalf by:
K C Sloper - Trustee
Page 4
**Independent Examiner's Report to the Trustees of City of Norwich Aviation Museum**
## **Independent examiner's report to the trustees of City of Norwich Aviation Museum ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also 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 your charity's accounts as 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.
Lewis Cooper FCA BFP Haines Watts Rostrons Chartered Accountants Yare House 62-64 Thorpe Road Norwich Norfolk NR1 1RY
23 May 2022
Page 5
**City of Norwich Aviation Museum**
## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31 August 2021**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
**23,324**
**Charitable activities**
Museum
**44,730**
Museum Shop
**17,068**
Other trading activities
4
**11,415**
Investment income
5
**12**
Other income
6
**57,622**
**Total**
**154,171**
**EXPENDITURE ON**
Raising funds
7
**6,239**
**Charitable activities**
8
Museum
**54,312**
Museum Shop
**6,702**
**Total**
**67,253**
**NET INCOME**
**86,918**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**237,105**
**TOTAL FUNDS CARRIED FORWARD**
**324,023**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**2021**
**Total**
**funds**
**£**
**23,324**
**44,730**
**17,068**
**11,415**
**12**
**57,622**
**154,171**
**6,239**
**54,312**
**6,702**
**67,253**
**86,918**
**237,105**
**324,023**|2020
Total
funds
£
827
34,640
10,755
5,885
642
21,237|
|---|---|---|---|
||||73,986
2,891
50,139
6,019|
||||59,049|
||||14,937
222,168|
||||237,105|
The notes form part of these financial statements
Page 6
**City of Norwich Aviation Museum (Registered number: 01734164)**
## **Balance Sheet**
## **31 August 2021**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
14
**105,312**
Heritage assets
15
**20,805**
**126,117**
**CURRENT ASSETS**
Stocks
16
**4,300**
Debtors
17
**41,814**
Cash at bank
**156,345**
**202,459**
**CREDITORS**
Amounts falling due within one year
18
**(2,787)**
**NET CURRENT ASSETS**
**199,672**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**325,789**
**CREDITORS**
Amounts falling due after more than one year
19
**(1,766)**
**NET ASSETS**
**324,023**
**FUNDS**
20
Unrestricted funds
**TOTAL FUNDS**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**2021**
**Total**
**funds**
**£**
**105,312**
**20,805**
**126,117**
**4,300**
**41,814**
**156,345**
**202,459**
**(2,787)**
**199,672**
**325,789**
**(1,766)**
**324,023**
**324,023**
**324,023**|2020
Total
funds
£
92,009
13,336|
|---|---|---|---|
||||105,345
3,400
3,455
129,034|
||||135,889
(2,363)|
||||133,526|
||||238,871
(1,766)|
||||237,105|
||||237,105|
||||237,105|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 7
**City of Norwich Aviation Museum (Registered number: 01734164)**
**Balance Sheet - continued 31 August 2021**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 May 2022 and were signed on its behalf by:
K C Sloper - Trustee
The notes form part of these financial statements
Page 8
**City of Norwich Aviation Museum**
**Notes to the Financial Statements for the year ended 31 August 2021**
## **1. STATUTORY INFORMATION**
City of Norwich Aviation Museum is a private company limited by guarantee without share capital, registered in England and Wales. The company's registered number and registered office address can be found in the report of the trustees.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared on a going concern basis. The trustees have considered the level of funds held and and the expected level of income and expenditure for 12 months from authorising these financial statements in making their assessment.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - over the lease term Equipment - 10% on reducing balance
## **Heritage assets**
Heritage assets are recognised on the balance sheet and initially measured at cost when purchased. Assets are subsequently stated at cost less accumulated depreciation. Depreciation is provided using the 10% reducing balance method.
Page 9
**City of Norwich Aviation Museum**
**Notes to the Financial Statements - continued for the year ended 31 August 2021**
## **2. ACCOUNTING POLICIES - continued**
## **Heritage assets**
Donated heritage assets are not recognised on the balance sheet as information on the valuation of such assets is not available and the cost of providing such information is expected to significantly outweigh any benefit to the users of the accounts.The nature and amount of donated assets is significant to the museum.
Acquisitions of heritage assets consist of aircraft and aviation artefacts, and arise when donated to the charity, or purchased by the charity, and the trustees believe that the asset will further the charity's objectives. Once acquired they are preserved by the charity in order to keep their historic qualities and to contribute to aviation knowledge and culture. A register of all heritage assets held by the charity is being compiled and the assets themselves are accessible to the public in the museum, or if not on general display, then with prior agreement. Heritage assets are to be held for the foreseeable future.
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Donated goods and services**
No amount is included in income in the financial statements for volunteer time 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 nature of contributions supplied by volunteers is significant to the charity.
No amount is included in income in the financial statements for fixed asset donations as information on the valuation of such assets is not available and the cost of providing such information is expected to significantly outweigh any benefit to the users of accounts.
Page 10
**City of Norwich Aviation Museum**
## **Notes to the Financial Statements - continued for the year ended 31 August 2021**
## **3. DONATIONS AND LEGACIES**
|Grants
Subscriptions
**4.**
**OTHER TRADING ACTIVITIES**
Fundraising events
Tea room income
**5.**
**INVESTMENT INCOME**
Dividend income
Interest received
**6.**
**OTHER INCOME**
Government grants
Exceptional items|**2021**
**£**
**22,262**
**1,062**
**23,324**
**2021**
**£**
**1,959**
**9,456**
**11,415**
**2021**
**£**
**-**
**12**
**12**
**2021**
**£**
**17,622**
**40,000**
**57,622**|2020
£
-
827|
|---|---|---|
|||827|
|||2020
£
1,956
3,929|
|||5,885|
|||2020
£
6
636
642
2020
£
21,237
-|
|||21,237|
Government grants relate to payments received under the Coronavirus Job Retention Scheme.
Exceptional income is detailed in note 22 to the accounts.
Page 11
**City of Norwich Aviation Museum**
**Notes to the Financial Statements - continued for the year ended 31 August 2021**
## **7. RAISING FUNDS**
## **Other trading activities**
|**2021**
**£**
Purchases
**6,239**
**8.**
**CHARITABLE ACTIVITIES COSTS**
Support
Direct
costs (see
Costs
note 9)
£
£
Museum
**36,222**
**18,090**
Museum Shop
**6,702**
**-**
**42,924**
**18,090**
**9.**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Museum
**14,256**
**3,834**
**10.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
**2021**
**£**
Depreciation - owned assets
**5,982**
Fees paid for independent examination
**3,834**
Stock expensed
**19,349**
Depreciation - heritage assets
**1,333**|2020
£
2,891
Totals
£
**54,312**
**6,702**|
|---|---|
||**61,014**|
||Totals
£
**18,090**|
||2020
£
4,307
3,720
7,517
1,482|
## **11. TRUSTEES' REMUNERATION AND BENEFITS**
No trustee (or any person connected with them) received any remuneration or benefits from the charity during the year. Total trustee and key management personnel remuneration benefits were £nil (31/8/20 - £nil).
Page 12
**City of Norwich Aviation Museum**
**Notes to the Financial Statements - continued for the year ended 31 August 2021**
## **11. TRUSTEES' REMUNERATION AND BENEFITS - continued**
## **Trustees' expenses**
During the year 5 trustees (31/8/20- 5) were reimbursed expenses of £2,096 (31/8/20 - £1,407).
## **12. STAFF COSTS**
|Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Museum
Museum shop
Administration|**2021**
**£**
**25,166**
**352**
**25,518**
**2021**
**3**
**3**
**1**
**7**|2020
£
22,675
299|
|---|---|---|
|||22,974|
|||2020
3
3
1
7|
No employees received emoluments in excess of £60,000.
## **13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
827
**Charitable activities**
Museum
33,067
Museum Shop
10,755
Other trading activities
5,885
Investment income
450
Other income
21,237
**Total**
72,221
**EXPENDITURE ON**
Raising funds
2,891
**Charitable activities**
Museum
50,139
Museum Shop
6,019|Restricted
fund
£
-
1,573
-
-
192
-
1,765
-
-
-|Total
funds
£
827
34,640
10,755
5,885
642
21,237|
|---|---|---|
|||73,986
2,891
50,139
6,019|
Page 13
**City of Norwich Aviation Museum**
## **Notes to the Financial Statements - continued for the year ended 31 August 2021**
|**13.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
funds
fund
£
£
**Total**
59,049
-
**NET INCOME**
13,172
1,765
**Transfers between funds**
36,621
(36,621)
**Net movement in funds**
49,793
(34,856)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
187,312
34,856
**TOTAL FUNDS CARRIED FORWARD**
237,105
-
**14.**
**TANGIBLE FIXED ASSETS**
Leasehold
improvements
Equipment
£
£
**COST**
At 1 September 2020
**137,143**
**22,516**
Additions
**16,731**
**2,554**
At 31 August 2021
**153,874**
**25,070**
**DEPRECIATION**
At 1 September 2020
**51,945**
**15,705**
Charge for year
**5,046**
**936**
At 31 August 2021
**56,991**
**16,641**
**NET BOOK VALUE**
At 31 August 2021
**96,883**
**8,429**
At 31 August 2020
85,198
6,811|Total
funds
£
59,049
14,937
-
14,937
222,168
237,105
Totals
£
**159,659**
**19,285**
**178,944**
**67,650**
**5,982**
**73,632**
**105,312**
92,009|Total
funds
£|
|---|---|---|
|||59,049|
|||14,937
-|
|||14,937
222,168|
|||237,105|
Page 14
**City of Norwich Aviation Museum**
## **Notes to the Financial Statements - continued for the year ended 31 August 2021**
## **15. HERITAGE ASSETS**
|**MARKET VALUE**
At 1 September 2020
Additions
At 31 August 2021
**PROVISIONS**
At 1 September 2020
Charge for year
At 31 August 2021
**NET BOOK VALUE**
At 31 August 2021
At 31 August 2020|Total
£
**42,821**
**9,780**|
|---|---|
||**52,601**|
||**29,485**
**2,311**|
||**31,796**|
||**20,805**|
||13,336|
## **Summary analysis of heritage asset transactions**
||**31/8/21**|31/8/20|31/8/19|31/8/18|31/8/17|
|---|---|---|---|---|---|
||**£**|£|£|£|£|
|||||||
|||||||
|Cost of acquisitions in the year|9,780|-|-|-|3,542|
|||||||
|Donated assets not recognised in the balance
sheet|**-**|-|-|-|-|
|||||||
|Charge for impairment in the year|**-**|-|-|-|-|
|||||||
|Carrying amount of assets disposed of in the year|**-**|-|-|-|-|
|||||||
|Proceeds from disposals|**-**|-|-|-|-|
|||||||
During the year the charity received a donation of an RJ85 airliner.
Page 15
**City of Norwich Aviation Museum**
## **Notes to the Financial Statements - continued for the year ended 31 August 2021**
|**16.**
**STOCKS**
Stocks
**17.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments and accrued income
**18.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Social security and other taxes
Accruals and deferred income
**19.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Other creditors
**20.**
**MOVEMENT IN FUNDS**
At 1.9.20
£
**Unrestricted funds**
General fund
**237,043**
Members deposits
**62**
**237,105**
**TOTAL FUNDS**
**237,105**|**2021**
**£**
**4,300**
**2021**
**£**
**40,000**
**1,814**
**41,814**
**2021**
**£**
**537**
**2,250**
**2,787**
**2021**
**£**
**1,766**
Net
movement
in funds
£
**86,918**
**-**
**86,918**
**86,918**|2020
£
3,400
2020
£
1,871
1,584
3,455
2020
£
113
2,250
2,363
2020
£
1,766
At
31.8.21
£
**323,961**
**62**||2020
£
3,400|
|---|---|---|---|---|
|||||2020
£
1,871
1,584|
|||||3,455|
|||||2020
£
113
2,250|
|||||2,363|
|||||2020
£
1,766|
|||**324,023**|||
|||**324,023**|||
Page 16
**City of Norwich Aviation Museum**
**Notes to the Financial Statements - continued for the year ended 31 August 2021**
## **20. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
Members deposits
**Restricted funds**
Restricted fund
**TOTAL FUNDS**
Comparative net movement in funds, included in
**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
£
**154,171**
**154,171**
Net
movement
At 1.9.19
in funds
£
£
187,250
13,172
62
-
187,312
13,172
34,856
1,765
222,168
14,937
the above are as follows:
Incoming
resources
£
72,221
1,765
73,986|Resources
Movement
expended
in funds
£
£
**(67,253)**
**86,918**
**(67,253)**
**86,918**
Transfers
between
At
funds
31.8.20
£
£
36,621
237,043
-
62
36,621
237,105
(36,621)
-
-
237,105
Resources
Movement
expended
in funds
£
£
(59,049)
13,172
-
1,765
(59,049)
14,937|
|---|---|---|
The restricted fund was held for the purpose of constructing additional charity buildings. The restricted funds were fully allocated during the year ended 31 August 2020. At 31 August 2020 the charity held no restricted funds.
Page 17
**City of Norwich Aviation Museum**
**Notes to the Financial Statements - continued for the year ended 31 August 2021**
## **21. RELATED PARTY DISCLOSURES**
There were no related party transactions during the year except for reimbursed expenses to certain trustees which are disclosed in note 11.
## **22. POST BALANCE SHEET EVENTS**
After the year end a £40,000 financial settlement was received in compensation for disruption caused to operations by the NDR road building. This has been included in the Statement of Financial Activities as exceptional income and is shown in the Balance Sheet as Other debtors at 31 August 2021.
Page 18