**REGISTERED COMPANY NUMBER: 01734164 (England and Wales) REGISTERED CHARITY NUMBER: 287745**
**Unaudited Financial Statements for the year ended 31 August 2023**
**for**
## **City of Norwich Aviation Museum**
Haines Watts 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 2023**
||**Page**||
|---|---|---|
|**Report of the Trustees**|1 to|5|
|**Independent Examiner's Report**|6||
|**Statement of Financial Activities**|7||
|**Balance Sheet**|8 to|9|
|**Notes to the Financial Statements**|10 to|19|
|**Detailed Statement of Financial Activities**|20 to|21|
**City of Norwich Aviation Museum**
**Report of the Trustees for the year ended 31 August 2023**
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 2023. 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**
**Report of the Trustees for the year ended 31 August 2023**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
We are pleased to report that a record number of visitors were received at the Museum in 2022/3. The regular Wings and Wheels weekend and a 1940's themed event were well supported.
The major development at the Museum during the year was the construction of an extension to our main display building to accommodate the collection of historical exhibits from the Fenland and West Norfolk Aviation Museum which closed on 31 October 2022. Building work commenced in January 2023 and the construction work was completed by the summer. This work was funded by a combination of incoming funds received from the Fenland and West Norfolk Aviation Museum and from our own income and reserves.
A generous legacy we received in 2021/2 enabled us to be able to fund the installation of solar panels on the roof of the new building. This investment will produce energy for the Museums consumption helping to control our cost of operation.
Movement of exhibits from the Fenland Museums site at Wisbech started in summer 2023. Work by both members of the Fenland Museum and our own volunteers started at this time to create the displays of these items. We envisage that the building will be open to visitors early in the spring of 2024.
All the exhibits received from Fenland are being added to our register of exhibits our MODES computer system. We are grateful to former Fenland members for their input to this important task Work continues to update our records relating to exhibits held on our MODES computer system to present day standards.
Restoration work continued to our aircraft exhibits in 2022/3. Good progress continued to be made with various projects. Funds have been gathered during the year to enable this work to continue during 2023/4.
Organisations such as ours depend on the support and goodwill from volunteers and the progress we continue to achieve would not be possible without the valuable and outstanding efforts of our members. We should also record our gratitude to the commitment of our employees.
2023 marked the 40th Anniversary of the establishment of the City of Norwich Aviation Museum. We were able to mark this milestone with the construction of the extension of the display building.
## **FINANCIAL REVIEW**
## **Financial position**
The trustees consider that the charity is in a strong financial position at the year end with total funds of £550,724 (31/8/2022 - £428,044).
Page 2
**City of Norwich Aviation Museum**
**Report of the Trustees for the year ended 31 August 2023**
## **FINANCIAL REVIEW**
## **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. The fund also exists to provide contingency funding in respect of grant aid projects should the need arise.
The Trustees continue to monitor the level of reserves held by the charity. These reserves, in addition to being sufficient to cover the running costs of the Museum during a time when income may be limited, also have an allocation for the future purchase of exhibits.
Operating costs and the value of potential new exhibits (eg additions to the aircraft collection) have increased significantly over the past two years and the level of reserves held will also need to be proportionally higher. In addition, with the investment made in new buildings and facilities over the past few years, additional accessible funds need to be available to cover unexpected repair costs.
In the medium to longer term, we will need to construct further additional exhibition areas to enable more of the Museums expanding collection to be accessible to public display and improved workshop facilities to enable conservation and restoration of larger exhibits. Funds will need to be accumulated to enable us to meet these aims.
## **FUTURE PLANS**
We continue to work towards regaining 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.
We look forward to the future with a great deal of optimism. Along with similar organisations, the City of Norwich Aviation Museum faces numerous challenges not least with the rising costs of operating the charity. We actively continue to look for ways to contain and reduce our operating costs and will investigate whether joining a co-operative buying group to enable us to make savings on inputs with the benefit of bulk purchasing may be advantageous.
We are confident that with the continued and valued support of our visitors and volunteers that we can meet and exceed these challenges and continue to expand and develop the Museum to our aim of preserving Norfolk's aviation heritage.
## **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.
Page 3
**City of Norwich Aviation Museum**
**Report of the Trustees for the year ended 31 August 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **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
## **Trustees**
K Barwick K C Sloper M Taylor (resigned 14.8.23) R J Walden (resigned 12.10.23) D N Waters C S Kerrison M Thirtle T R D Emms T H Eady R Pointing K Davies (appointed 12.10.23) S M Day (appointed 12.10.23) C Galbraith Smith (appointed 12.10.23)
## **Company Secretary**
R Pointing
## **Independent Examiner**
Elizabeth Claxton FCA FCCA Haines Watts Chartered Accountants Yare House 62-64 Thorpe Road Norwich Norfolk NR1 1RY
Page 4
**City of Norwich Aviation Museum**
**Report of the Trustees for the year ended 31 August 2023**
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 April 2024 and signed on its behalf by:
K C Sloper - Trustee
Page 5
**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 2023.
## **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**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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.
Elizabeth Claxton FCA FCCA
Haines Watts Chartered Accountants Yare House 62-64 Thorpe Road Norwich Norfolk NR1 1RY
23 April 2024
Page 6
**City of Norwich Aviation Museum**
## **Statement of Financial Activities**
## **(Incorporating an Income and Expenditure Account) for the year ended 31 August 2023**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
**12,036**
**Charitable activities**
Museum
**109,484**
Museum Shop
**36,716**
Other trading activities
4
**42,733**
Investment income
5
**1,663**
**Total**
**202,632**
**EXPENDITURE ON**
Raising funds
6
**23,012**
**Charitable activities**
7
Museum
**101,195**
Museum Shop
**24,081**
**Total**
**148,288**
**NET INCOME**
**54,344**
**Transfers between funds**
19
**116,336**
**Net movement in funds**
**170,680**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**378,044**
**TOTAL FUNDS CARRIED FORWARD**
**548,724**|Restricted
fund
£
**68,336**
**-**
**-**
**-**
**-**
**68,336**
**-**
**-**
**-**
**-**
**68,336**
**(116,336)**
**(48,000)**
**50,000**
**2,000**|**2023**
**Total**
**funds**
**£**
**80,372**
**109,484**
**36,716**
**42,733**
**1,663**
**270,968**
**23,012**
**101,195**
**24,081**
**148,288**
**122,680**
**-**
**122,680**
**428,044**
**550,724**|2022
Total
funds
£
54,400
100,876
31,899
33,802
48|
|---|---|---|---|
||||221,025|
||||20,018
80,147
16,839|
||||117,004|
||||104,021
-|
||||104,021
324,023|
||||428,044|
The notes form part of these financial statements
Page 7
**City of Norwich Aviation Museum**
## **Balance Sheet**
## **31 August 2023**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
13
**325,022**
Heritage assets
14
**24,345**
**349,367**
**CURRENT ASSETS**
Stocks
15
**5,800**
Debtors
16
**4,248**
Cash at bank
**202,199**
**212,247**
**CREDITORS**
Amounts falling due within one year
17
**(11,124)**
**NET CURRENT ASSETS**
**201,123**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**550,490**
**CREDITORS**
Amounts falling due after more than one year
18
**(1,766)**
**NET ASSETS**
**548,724**
**FUNDS**
19
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**2,000**
**2,000**
**-**
**2,000**
**2,000**
**-**
**2,000**|**2023**
**Total**
**funds**
**£**
**325,022**
**24,345**
**349,367**
**5,800**
**4,248**
**204,199**
**214,247**
**(11,124)**
**203,123**
**552,490**
**(1,766)**
**550,724**
**548,724**
**2,000**
**550,724**|2022
Total
funds
£
103,494
27,050
130,544
5,300
3,505
294,543
303,348
(4,082)
299,266
429,810
(1,766)
428,044
378,044
50,000|
|---|---|---|---|
||||428,044|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
Page 8
**City of Norwich Aviation Museum**
## **Balance Sheet - continued 31 August 2023**
## 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.
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 April 2024 and were signed on its behalf by:
K C Sloper - Trustee
The notes form part of these financial statements
Page 9
**City of Norwich Aviation Museum**
**Notes to the Financial Statements for the year ended 31 August 2023**
## **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 exemption 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% reducing balance
Page 10
**City of Norwich Aviation Museum**
**Notes to the Financial Statements - continued for the year ended 31 August 2023**
## **2. ACCOUNTING POLICIES - continued**
## **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.
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 11
**City of Norwich Aviation Museum**
## **Notes to the Financial Statements - continued for the year ended 31 August 2023**
|**3.**
**DONATIONS AND LEGACIES**
Donations
Grants
Subscriptions
**4.**
**OTHER TRADING ACTIVITIES**
Fundraising events
Tea room income
**5.**
**INVESTMENT INCOME**
Interest received
**6.**
**RAISING FUNDS**
**Other trading activities**
Purchases|**2023**
**£**
**78,336**
**280**
**1,756**
**80,372**
**2023**
**£**
**4,720**
**38,013**
**42,733**
**2023**
**£**
**1,663**
**2023**
**£**
**23,012**|2022
£
50,000
2,667
1,733|
|---|---|---|
|||54,400|
|||2022
£
3,573
30,229|
|||33,802|
|||2022
£
48
2022
£
20,018|
Page 12
**City of Norwich Aviation Museum**
**Notes to the Financial Statements - continued for the year ended 31 August 2023**
## **7. CHARITABLE ACTIVITIES COSTS**
|Support
Direct
costs (see
Costs
note 8)
£
£
Museum
**50,406**
**50,789**
Museum Shop
**24,081**
**-**
**74,487**
**50,789**
**8.**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Museum
**45,129**
**5,660**
**9.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
**2023**
**£**
Depreciation - owned assets
**6,222**
Deficit on disposal of fixed assets
**-**
Fees paid for independent examination
**5,660**
Stock expensed
**43,558**
Depreciation - heritage assets
**2,705**|Totals
£
**101,195**
**24,081**|Totals
£
**101,195**
**24,081**|
|---|---|---|
||**125,276**||
|||Totals
£
**50,789**|
|||2022
£
6,396
492
5,760
42,819
3,005|
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
No trustee received remuneration from the charity during the year. Total trustee and key management personnel remuneration benefits were £0. (31/8/22 - £447).
Page 13
**City of Norwich Aviation Museum**
**Notes to the Financial Statements - continued for the year ended 31 August 2023**
## **10. TRUSTEES' REMUNERATION AND BENEFITS - continued**
## **Trustees' expenses**
During the year 5 trustees (31/8/22 - 6 ) were reimbursed expenses of £8,355 (31/8/22 - £3,943).
## **11. STAFF COSTS**
|Wages and salaries
Other pension costs|**2023**
**£**
**35,586**
**993**
**36,579**|2022
£
28,692
834|
|---|---|---|
|||29,526|
The average monthly number of employees during the year was as follows:
|Museum
Museum shop/Tea Room
Administration|**2023**
**1**
**2**
**1**
**4**|2022
1
2
1|
|---|---|---|
|||4|
No employees received emoluments in excess of £60,000.
## **12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
4,400
**Charitable activities**
Museum
100,876
Museum Shop
31,899
Other trading activities
33,802
Investment income
48
**Total**
171,025
**EXPENDITURE ON**
Raising funds
20,018
**Charitable activities**
Museum
80,147|Restricted
fund
£
50,000
-
-
-
-
50,000
-
-|Total
funds
£
54,400
100,876
31,899
33,802
48|
|---|---|---|
|||221,025|
|||20,018
80,147|
Page 14
**City of Norwich Aviation Museum**
**Notes to the Financial Statements - continued for the year ended 31 August 2023**
|**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
funds
fund
£
£
Museum Shop
16,839
-
**Total**
117,004
-
**NET INCOME**
54,021
50,000
**RECONCILIATION OF FUNDS**
Total funds brought forward
324,023
-
**TOTAL FUNDS CARRIED FORWARD**
378,044
50,000
**13.**
**TANGIBLE FIXED ASSETS**
Leasehold
improvements
Equipment
£
£
**COST**
At 1 September 2022
**153,874**
**28,819**
Additions
**224,037**
**3,713**
At 31 August 2023
**377,911**
**32,532**
**DEPRECIATION**
At 1 September 2022
**62,037**
**17,162**
Charge for year
**4,685**
**1,537**
At 31 August 2023
**66,722**
**18,699**
**NET BOOK VALUE**
At 31 August 2023
**311,189**
**13,833**
At 31 August 2022
91,837
11,657|Total
funds
£
16,839
117,004
104,021
324,023
428,044
Totals
£
**182,693**
**227,750**
**410,443**
**79,199**
**6,222**
**85,421**
**325,022**
103,494|Total
funds
£
16,839|
|---|---|---|
|||117,004|
|||104,021
324,023|
|||428,044|
Page 15
**City of Norwich Aviation Museum**
**Notes to the Financial Statements - continued for the year ended 31 August 2023**
## **14. HERITAGE ASSETS**
|**MARKET VALUE**
At 1 September 2022 and 31 August 2023
**PROVISIONS**
At 1 September 2022
Charge for year
At 31 August 2023
**NET BOOK VALUE**
At 31 August 2023
At 31 August 2022|Total
£
**61,851**|
|---|---|
||**34,801**
**2,705**|
||**37,506**|
||**24,345**|
||27,050|
## **Summary analysis of heritage asset transactions**
||**31/8/23**|31/8/22|31/8/21|31/8/20|31/8/19|
|---|---|---|---|---|---|
||**£**|£|£|£|£|
|||||||
|||||||
|Cost of acquisitions in the year|-|9,250|9,780|-|-|
|||||||
|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|**-**|-|-|-|-|
|||||||
Page 16
**City of Norwich Aviation Museum**
## **Notes to the Financial Statements - continued for the year ended 31 August 2023**
|**15.**
**STOCKS**
Stocks
**16.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments and accrued income
**17.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Accruals and deferred income
**18.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Other creditors
**19.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.9.22
in funds
£
£
**Unrestricted funds**
General fund
**377,982**
**54,344**
Members deposits
**62**
**-**
**378,044**
**54,344**
**Restricted funds**
Restricted fund
**50,000**
**68,336**
**TOTAL FUNDS**
**428,044**
**122,680**|**2023**
**£**
**5,800**
**2023**
**£**
**4,248**
**2023**
**£**
**5,529**
**595**
**5,000**
**11,124**
**2023**
**£**
**1,766**
Transfers
between
funds
£
**116,336**
**-**
**116,336**
**(116,336)**
**-**|2022
£
5,300
2022
£
3,505
2022
£
-
482
3,600
4,082
2022
£
1,766
At
31.8.23
£
**548,662**
**62**||2022
£
5,300|
|---|---|---|---|---|
|||||2022
£
3,505|
|||||2022
£
-
482
3,600|
|||||4,082|
|||||2022
£
1,766|
|||**548,724**
**2,000**|||
|||**550,724**|||
Page 17
**City of Norwich Aviation Museum**
**Notes to the Financial Statements - continued for the year ended 31 August 2023**
## **19. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
Members deposits
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
**202,632**
**(148,288)**
**54,344**
**68,336**
**-**
**68,336**
**270,968**
**(148,288)**
**122,680**
Net
movement
At
At 1.9.21
in funds
31.8.22
£
£
£
323,961
54,021
377,982
62
-
62
324,023
54,021
378,044
-
50,000
50,000
324,023
104,021
428,044|
|---|---|
Page 18
**City of Norwich Aviation Museum**
**Notes to the Financial Statements - continued for the year ended 31 August 2023**
## **19. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
£
171,025
50,000
221,025|Resources
Movement
expended
in funds
£
£
(117,004)
54,021
-
50,000
(117,004)
104,021|
|---|---|---|
The transfer of £116,336 between the restricted and unrestricted fund was to allocate these funds against their intended purpose of expenditure incurred in the year for the building work at Fenland Hall.
## **20. RELATED PARTY DISCLOSURES**
There were no related party transactions during the year except for reimbursed expenses to certain trustees which are disclosed in note 10.
Page 19
**City of Norwich Aviation Museum**
## **Detailed Statement of Financial Activities for the year ended 31 August 2023**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Grants
Subscriptions
**Other trading activities**
Fundraising events
Tea room income
**Investment income**
Interest received
**Charitable activities**
Museum
Museum shop
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Tea room purchases
Publicity costs
**Charitable activities**
Wages
Pensions
Exhibitions and displays
Conservation
Carried forward|2023
£
**78,336**
**280**
**1,756**
**80,372**
**4,720**
**38,013**
**42,733**
**1,663**
**109,484**
**36,716**
**146,200**
**270,968**
**21,663**
**1,349**
**23,012**
**35,586**
**993**
**1,599**
**4,056**
**42,234**|2022
£
50,000
2,667
1,733|
|---|---|---|
|||54,400
3,573
30,229|
|||33,802
48
100,876
31,899|
|||132,775|
|||221,025
16,805
3,213|
|||20,018
28,692
834
52
6,318
35,896|
This page does not form part of the statutory financial statements
Page 20
**City of Norwich Aviation Museum**
## **Detailed Statement of Financial Activities for the year ended 31 August 2023**
|**Charitable activities**
Brought forward
Museum shop
Exhibit Purchases
Depreciation of tangible fixed assets
Loss on sale of tangible fixed assets
**Support costs**
**Management**
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Training
Repairs
Subscriptions
Bank charges
Payroll fees
Legal fees
**Governance costs**
Accountancy fees
Total resources expended
**Net income**|2023
£
**42,234**
**22,395**
**931**
**8,927**
**-**
**74,487**
**350**
**5,062**
**8,825**
**388**
**536**
**2,075**
**-**
**23,953**
**239**
**2,380**
**658**
**663**
**45,129**
**5,660**
**148,288**
**122,680**|2022
£
35,896
16,839
-
9,401
492|
|---|---|---|
|||62,628
283
3,491
4,915
1,137
-
1,028
325
14,247
323
1,889
960
-|
|||28,598
5,760|
|||117,004|
|||104,021|
This page does not form part of the statutory financial statements
Page 21