REGISTERED COMPANY NUMBER: 01690404 ff ngland 2nd Wales) REGISTERED CHARITY NUMBER.. 289484 T OF THE TRUSTEES AND FINA CIAL STATEMENTS F R THE YEAR ENDED 31 DECEMBER 2024 FOR tX)VER TRANSPORT MUSEUM SOCIETY A COMPANY LIMITED BY GUARANTEE Cassidys Chartered Accountants South Stour Offices South Stour Road Mersham Ashford Kent TN25 7HS
DOVER TRANSPORT MUSEUM SOCIETY CONTENTS OF THE FINANCIAL STATEMENTS THE YEAR ENDED I DECEMBER 2024 Page Report of th¢ TTUSte¢s I to 4 Ind¢p¢ndent Examiner's Report Statement of Financial Activities Balance Sheet Noi¢5 to the Financial Statements 9 to 14
DOVER TRANSPORT MUSEUM S IETY REPORT OF THE TR STEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees, who are also dir¢ctor5 of the charity for the purposes of the Companies Act 2006. present their report with the financial statements of th¢ charity for the year ended 31 December 2024. The Trustees have adopted the Provisions of Accounting and R¢porting by Charities.. Ststement of Recommended PrdCti¢e applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th¢ UK and Republic of Ir¢land (FRS 102) (effective l January 2019). ORJECTtVES AND AcfivITIES Poli¢ies and objectives The Charitys objectiv¢s continue to be the promotion and furtherance of education and knowledge of transport history and to establish, administer and maintain a museum for such purposes. There are no paid or ll-tiMe staff but the TTUStees meet regularly to manage the museum's affairs. In Setting objectives and planning for activities, the TTU5tees have given considerntion lo general guidance published by the Charity ComTni55ion relating to public ben¢fit, including the guidance'Publi¢ benefit.. tijnning a charity (PB2)'. b. Voluntttrs Active volunteer engagement is the essential factor in the ongoing success of the mu5¢um. There are CUJTently circa 75 activ¢ volunteers with a total paid up membership of 160+. Each year sees a number of volunteer5 leave and new members re¢ruited and 2024 has been no exception. New Trnst¢es were Tecruited during the year with Sue Overall. Clive Taylor 8J)d Gillian Davis joining the tsiJ5tee wup. The torAI number of volunteer hours worked in 2024 was 20,136 Page I
OVER TRANSP RT SEUM SOCIETY ORT OF THE TRUSTEES NDED31 DE EMBER 2024 FOR TH ACHIEVEMENT AND PERFORMANCE Review of actlvities As can be se¢n in the accounts. the year 2024 delivered a healthy finan¢ial su]plus which reflects the museums success in attracting an increasing number of visitors. Visitor numbers in the year were up by some 13 0/6 veTSUS 2023, a tribute to th¢ hard work of all volunte¢r$ involved in delivering a positive visitor experience. The continuing su¢¢¢ss of a reinvigorated and ¢onslSt¢nt catering offer has be¢n a major step toward the overall success of the mlls¢um throughout the year. Visitors rightly expect catering servic¢s at venues such as the mu5¢um and the revenu¢ ihat a¢¢rues from this activity is an essential element in our success. Significant additions to the colle¢tion in the year included the Howard Special, with Dymchurch built fibreglass body and the Mk7 Mini Cooper. Motorcycle additions included th¢ Douglas Dragonf]y, a 1931 Sunbeam, a 1924 OEC Bla¢kbume a Matchless G3 and a rather splendid 1959 Triumph Bonneville. A raTe Norman Cargo bike was added to the 'Norman' collection and a stearn powered model of SS Anglia joined the ever growing collection of maritime exhibits. A wide range of other artefacis continue to be offered by the public and businesses as donations or loan items. Availabl¢ exhibition and storage space rernains a significant influencing factor when considering additional items for the collection. The now traditional ¢v¢nts progTamme was staged at the museum including Driv¢ it Day, the Classic Car Show, the Model Weekend and the Classic Motorcycle Show. This programtne was complemented with a number of single tnarque days including the Triumph Day, which were run alongside nornal open days on a Sunday. This proved to be success] in attracting both exhibitors and visitors. External events attended during the year included The Heritage Show at Detling, East Kent Ploughing Match, Lord of Lydden, Heritage Sprint. River Fete and the Old Timers Rally. Folkestone. Each of these offered opportunity to Taise awar¢ness of the museum and to raise funds through the selling of raffle tickets. For the se¢ond year running the museum was able to run a Pop Up Shop, in St James,, Dover during th¢ period running up lo Christmas. This was a successfitl retail venture for surplu5 museum bric a brac etr. as well as a positive awareness raising exercise for the museum. The total recorded number of visitors to the museum in the year was 10,262. FINANCIAL REVIEW . Going eoncer Reserves at year end were sufficient for the Trustees to have a reasonable expectatitsn that the Charity would continue in operational existence for th¢ foreseeable ture. For this reason. they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves policy Th¢ museum estste is large end ¢onsists of old militsry buildings for which the provision of Maintenance funds is a constant challenge but owning the freehold of the property enables us to be Confident in the securiry of our Continuing investment in the infrastructure. However, notwithstanding thi5 advantageous position th¢ Tru5t¢es consider that maintaining a proportion of income to reserve$ Is essential for prudent financial management and have agreed to strengthen the reserves policy introduced for prior years. The finan¢ial position is reviewed by the Governing Committee on a regular basis and fund5 are Committed to reserv¢5 in line with this policy. Page 2
DOVER TRAN SEUM SOCIETY ORT OF THE TRUSTEES D 31 DECEMBER 2 FOR THE Y STRUCTURE, GOVERNANCE AND MANAGEMENT *. Constltutlon Dover Transport Museum So¢iety is registered as a charitable ¢ompany limited by guarant¢¢ and was set up by a M¢rnorandum of Association. It is a r¢gi$tered chariry number 289484. b. Methods of appointment or election of Trustees The management of the Chariry is the responsibility of the Truste¢s who are elected and co-opted under the ternis of the Articles of Association and the Rul¢s of the Dover Transport Museum Society. The appointtnent of new Twstees of the society is ordinarily made at the AGM. Each year thr¢¢ of the committee of Trnst¢¢5 of the museum according to the njles of the Society must stand down. They Can choose to stand for re<lection at thi5 time alld applications from other members of the Society who may wish to stand are also acceptsd. All members wishing to stand or re-sLd must inform th¢ committee of their intention in MTiting along with a seconder from the mernbership at l¢ast one full week before the published da of the AGM. If there are more people standing than there are pla¢¢s available. a ballot of the memb¢rship is held at the AGM with proxy voting slip5 available for members unable ¢0 attend if requested. e. Finaneial risk management The Trustees have assessed the major risks to which the Charity is exposed. particularly those related to the operations and fmances of the Charity and are satisfied that ad¢quate systems and procedur¢s are in place to mitigate any exp051]r¢. Plans for future periods The principal aiTn5 foT 2025 are to secur¢ improvements to the estate, the c(Ill¢ction and the financial perfom2n¢e of the museum as well as progressing the development of key projects identified as essential to the future of the museum and its mission. To provide suitable and appropriate accommodation for the unique and nationally imporcant Nornian Collection. To house an expected donation of 2 import2nt bu5 exhibits To fulfil an obligation io lay a section of Doverfs tram track - To develop a suitable celebration of Dover's history of ¢ar and train fetTies Essential to all these aims will be tbe effort io increase volunte¢r numbers, enhance staff training, development and management and to fvrther enrich the visitor experience by continuing to sustain our improved catering capacity. REFERENCE AND ADMINISTRATIVE DETAtis R¢gi5¢eTed Company number 01690404 (England and Wales) Registered Charlty number 289484 RegSstered office Willingdon Road Port Zone Whitfield Dover Kent CT16 25X Page J
R TRANSPORT MUSEUM SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR DED 31 DECEMBER 2024 Trustees D Atkins B Flood MBE QPM Rev'd J Lines MBE E Woodruff E Dixon W D Poulter (Resigned 2615r24) K J Preec¢ SJAgg P J L¢t¢hfoTd P Wright G B Davies (Appointed 816125) S S Overal (Appointed 816125) C A Taylor (Appointed 816125) Independent Examiner Cassidys Chartered Accountants South Stour Otyices South Stour Road Mersham Ashford Kent TN25 7HS Approved order of the board of trustees on ............................................. and Signed on its behalf by.. SJA Tru Page 4
INDEP ENT EXAMtNER'S REPORT TO THE TRUSTEES OF DOVER TRANSPORT MUSEUM SOCIETY Independent examiner's report ¢0 th¢ trustees of Dover TraMsptsrt Museum Society ('Ihe Company,) I report to th¢ ¢harity truste¢s on my examination of the account5 of th¢ Cornpany for the year ended 31 December 2024. Responsibilities And basis of r¢port As the charity'$ trustee5 of the Company (and also its diTeetor5 for th¢ purposes of company law} you are responsible for the preparation of the accounts in accordance with the requirements of th¢ Companies Act 2006 Cthe 2006 Act,). Having satisfied rny5¢1f that the accounts of the Cotnpany ar¢ not required to be audited under Part 16 of th¢ 2006 Act and are eligible for independent examination, I reTX)rt in respect of my examination of your charity'5 accounts as caled out under Section 145 of the Charities Act 2011 ('the 2011 Acf). In carrying out my examination I have followed the DiTections given by the Chariry Commission under Section 145{5) (b) of the 2011 Act. Indtpendent examiner's ytatem¢nt I have completed my examination. I confwm that no nmtters have come to my attention in connection with the ¢xamination giving me cause to believe.. accounting ordS w¢r¢ not kept in respect of the Company required by Section 386 of the 2000 Act. or the accounts do not accord with those records,. or the accounts do not ¢omply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that th¢ accounts give a true and fair view whi¢h is not a matter considered as part of an independent examination. or the a¢counts have not been prepared in a¢¢ordan¢e with the methods and principles of the Statement of Recommended Practice for ar¢ounting and reporting by Charities (appli¢able to charities preparing their accounts in accordance with the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)). I have no ¢on¢em5 and have come across no other matters in connection with the exaEnination to which attention should be drawn in this report in order to enable a proper understanding of the ac¢ounts to be reached. S G Whorlow Cassidys Chartered Accountants South Stour Offices South Stour Road Mersham Ashford Kent TN25 7HS Date.. Page 5
DOVER TRAN PORT MUSEUM SOCIETY TATEMENT OF FINANCIAL A IVITIES tNCORPORATfNG AN INCOME AND EXPENDITURE ACCO FOR THE YEAR ENDED 31 DE EMBER 2024 31.12.24 Total fvnd5 31.12.23 Totsl funds Unr¢stricted fvnd Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacie5 9,426 9,426 8.334 Charitable attivitie Member5 subscription Museum Door Tea Bar Vehicle Rent Museum Shop Schools Raffle Misc Income Events General 2,559 65,124 27,355 6,440 1,191 2.459 4.085 1.834 3,078 1,355 2.559 65,124 27,355 6,440 2,461 45,903 19,172 3,960 10.633 2.899 3,572 6,109 6,752 242 2,459 4,085 1,834 3,078 1,355 Total 124,906 124,906 110,037 EXPENDITURE ON Charitable activiti¢s Museum Door Tea Bar Museum Shop Schools Raffle Events General 5,828 16,072 3,393 110 2,048 931 67,980 5.828 16,072 3,393 110 2,048 931 68,291 4,939 10,133 4.806 1,859 272 59,024 311 Tutsl 96,362 311 96,673 81,033 r4ET INCOMEI(EXPENDITURE) 28,544 (311) 28,233 29,004 RECONCILIATION OF FUNDS Total funds brought forward 539.253 621 539.874 510.870 TOTAL FUNDS CARRIED FORWARD 567,797 310 568,107 539,874 The notes fom) part of these fuJan¢ial statements Page 6
DOVER TRANSPORT MUSEUM SOCIETY BALANCE SHEET IDE EMBER 2024 31.12.24 31.12.23 Notes FIXED ASSETS Tangible assets 483.761 489.619 CURRENT ASSETS Stocks Debtors Cash at bank and in haTLd 3,500 2.380 7,064 50,530 82,621 86,121 59,974 CREDITORS Amounts falling due within one year (1.775) (9.719) NET CURRENT ASSETS 84.346 50.255 TOTAL ASSETS LESS CURRENT LIABILITtES 568,107 539,874 NET ASSETS 568,107 539,874 FUNDS Unrestricted fimd5 Restricted fund5 io 567,797 310 539.253 621 TOTAL FUNDS 568,107 539,874 The charitable company 1$ entitled to exemption from audTt under Section 477 of the Companies Act 2(x)6 for the year ended 31 December 2024. The members have not required th¢ ¢ompany to obtsin an audit of its financial statements for the year ended 31 December 2024 in a¢¢ordance with Section 476 of th¢ Cornpanies Act 2006. The trustees acknowledg¢ their responsibilities for (a) ensuring that the charitable cotnpany keeps accounting records that Comply with Sections 386 and 387 of the Companies Act 2006 at]d preparÈng finan¢ial statements which give a true and fair view of the state of affairs of the ¢haritsble company as at the end of ea¢h financial year and of its surplus or deficit for each finaneial year in accordance with the requir¢ments of Sections 394 and 395 and which otherwise comply with the requirements of the Companies A¢t 2006 relating to financial statements, so far as applicable to the charitable company. (b) The notes forni part of these financial statements Page 7 ¢ontinued...
VER TRANSPORT ANCE SHEET- continued 31 DECEMBER2024 Th¢se financial Statements have been prepared in accordance with the provisions applicable to eharitable compani¢s subject io the small ¢omparties regime. n¢i s¢aiements were 8pproYed by the Board of Trustees and authorised for issue and were signed on its behalf by.. on SJAgg- rust The notes fonn part of these financial statements Page 8
OVER TRAN PORT MUSEUM SOCIETY NOTES T THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basts of preparing the nnaneial ststements The financial Statements of the ¢haritable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102}'Accounting and Reportin8 by Charities.. Statement of Recomm¢nd¢d Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applic&ble in the UK and R¢publi¢ of Ireland (FRS 102) (effecttve l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Aci 2006. The financial statements have been prepared under the historical cost convention. Income All in¢orne is recognised in the Staternent of Financial Activities once the ¢harity has entitlement to the funds. it is probable that the income will be received and the arnount Can be measured reliably. Income t&Y recov¢rable in relation to donations received under Gift Aid or deeds of ¢ovenant is recognised at the tim¢ of the donation. Expenditure Liabilities are recognised as expenditure a5 soon as there is a legal or constru¢tiv¢ obligation cornmittin8 the clwity to that expenditur¢, it is probable that a transfer of economic b¢n¢fits will be required in settlement and the amount of the obligation Can be measured reliably. Expenditure is a¢¢ounted for on an accruals basis and has been cl&8sifi¢d under headings that aggregate all cost related to the category. Where c05ts cannot be directly attributed to particular headings they have been allocated to activities on a basi5 consistent with th¢ use of Tesources. All expenditure 15 inclusive of irrecoverable VAT. Tangible fixed 955ets Depreciation is provided at the following annual rates in ord¢r to write off ea¢h asset over its estimat¢d u5¢ful Plant and machiT]ery Motor vehicles Computer equipment 150/0 on cost 250/0 on cost 33Q/o on ¢o$t Stocks Stocks are valued at the lower of ¢05t and net realisable value, after making due allowance for obsolete and slow moving items. Taxation The charity is exempt from corporation tax on its ch2Titsble activities. Fund atcounting Ut]re5tricted funds can be used in aOrdanCe with the charitable objectives at the discretion of the trustees. Restricted fijnds can only be used for particular restricted purposes within the objects of the charity. Restriction5 arise when sp¢¢ifi¢d by the donor or when fimds are raised for particular restri¢ted purposes. Further explanation of the nature and purpose of each fund is included in the notes to th¢ financial statements. Page 9 continued...
DOVER TRANSPORT MUSEUM SOCIErY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 NET INCOMEI(EXPENDITURE) Net income/(expenditur¢} is stated after chargin(CredIting).' 31.12.24 31.12.23 Depreciation- owned assets 5,858 5,966 TRusfEES' REMUF4ERATION Af4D BENEFITS During the year, no Trustees received any remuneration or other benefits (2022.. £Nil). During the year ¢nd¢d 31 Dx¢mb¢T 2023, no Trustee expenses have been incurred (2022-. £Nil). Tru5tees' expenses There were no trustees, expens¢$ paid for the year ended 31 December 2024 nor for the year ended 31 Decernber 2023. COMPARATIVES FOR THE STATEMENf OF FINANCIAL ACTIvrrtES Unrestricted fund Restricted fitnds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 8,334 8,334 Charitable activities Members subscription Museum Door Tea Bar Vehicle Rent Museum Shop schl1$ Raffle Misc Income Events G¢neral 2,401 45.903 19.172 3,960 10,633 2,899 3,572 6,109 6,752 242 2,461 45.903 19.172 3,960 10,633 2,899 3,572 6,109 6.752 242 Totsl 110,037 110,037 EXPENDITURE ON Ch8rltsble aetivitle$ Museum Door Tea Bar Museum Shop Raffle Events General 4,939 10,133 4,806 1,859 272 58,703 4.939 10,133 4,806 1,859 272 59,024 321 Total 80,712 321 81,033 NET INCOMEI(EXPENDITURE) 29.325 (321) 29,004 Page 10 ontinu¢d.-.
DOVER TRANSP RT MUSEUM SOCIETY NOTES TO THE FINANCIAL STATEMENTS - c FOR THE YEAR ENDED 31 DECEMBER 2 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- eontinued Unresrricted Restri¢ted fid fjjnds Total funds RECONCILIATION OF FUNDS Total fiJnd$ brought ft>rward 509,928 942 510,870 TOTAL FUNDS CARRIED FORWARD 539,253 621 539,874 TANGIBLE FIXED ASSETS Fixtures and fitting5 Freehold property Plant and machinery COST At l January 2024 and 31 Deeemb¢r 2024 452,624 18,912 36,371 DEPRECIATION Ai l January 2024 Charge for year 697 697 24,791 2,761 Ai 31 December 2024 1,394 27,552 NET BOOK VALUE At 31 December 2024 452.624 17,518 8.819 At 31 December 2023 452,624 18,215 11,580 Motor vehicl¢s Computer equipment Tots]s COST At l January 2024 and 31 December 2024 13,000 2.713 523,620 DEPRECIATION At l January 2024 Charge for year 5.800 2,400 2.713 34,001 5,858 At 31 December 2024 8,200 2,713 39,859 NET BOOK VALUE At 31 December 2024 4.800 483,761 At 31 De¢¢mber 2023 7,200 489,619 Included in land and buildings is freehold land at a Cosi of £360,012 {2023 £360,012) which is not depreciated. Th¢ Trustees consider the value of fr¢ehold property to be approximately £1.4 but no revaluauon has been implemented. For this rea50n. depreciation is ¢on$ider¢d inappropriate. Page 11 continued...
DOVER TRANSPORT MUSEUM SOCIETY NOTES TO THE FINANCIAL STATEMENTS - continued OR THE YEAR EN 31 DECEMBER 2024 STOCKS 31.12.24 31.12.23 Sto¢k5 3,500 2,380 DEwfoRS: AMOUNTS FALLING DUK wrrHIN ONE YEAR 31.12.24 31.12.23 Prepayments 7,064 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Trade Creditors Other creditor5 Acced expen5¢S 213 90 1,472 7,192 90 2.437 1,775 9,719 ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.12.24 Total nd5 31.12.23 Total fijnds Unrestricted fund Restricted funds Fixed assets Current assets Current liabilities 483.761 85,811 (1,775) 483,761 86.121 (1,775) 489.619 59,974 (9,719) 310 567.797 310 568,107 539.874 MOVEMENT IN FUNDS Net movement in funds Ai 31.12.24 Atl.1.24 Unrestricted funds General fund 539,253 28,544 567.797 Restrieted funds Kent County Council - Security 621 (311} 310 TOTAL FUNDS 539,874 28233 568,107 Page 12 ontinu¢d...
VER TRANSPORT MUSEUM SOCIETY NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 DECEMBER 2024 io. MOVEMENT IN FUNDS- eoDtinued Net movem¢nt in funds, included in the above are as follows.. Incoming resources R¢souTces expended Movement in funds Unrestrittsd funds Generdl fund 124,906 (90,362) 28.544 Restrleted funds Kent County Council- Security (311} TOTAL FUNDS 124,906 (96.673) 28,233 Comparatives for movejnent in funds Net movement in fund5 At 31.12.23 At 1.1.23 Unrestricted funds General fiEnd 509,928 29,325 539,253 Restrleted funds Kent County Council - Se¢urity 942 (321) 621 TOTAL FUNDS 510,870 29,004 539,874 Comparative net movement in fi]nds, included in the above are as follows.. Incorning resources Resources expended Movement in fvnds Unrestricted funds General fund 110,037 (80.712) 29,325 Restricted funds Kent County Council- Security (321) (321} TOTAL FUNDS 110,037 (81.033) 29,004 Page 13 continu¢d...
DOVER TRANSPORT MUSEUM SOCIETY N(yfES TO THE FINANCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31 DECEMBER 2024 io. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows.. Net ove]n¢nt tn fithds At 31.12.24 At 1.1.23 Unrestricted funds General fijnd 509,928 57,869 567,797 Restricted fullds Kent County Council - Security 942 (632) 310 TOTAL FUNDS 510,870 57,237 568,107 A ¢urr¢nt year 12 Months and prior year 12 months combined net movement in funds. included in the above are as follow5.. Jncoming resources R¢50ur¢¢5 expended Movement in ndS Unrestricted funds General fund 234,943 (177,074) 57,869 Restricted fuDds Kent County Council- S¢¢urity (632) {632) TOTAL FUNDS 234,943 (177,706) 57,237 ij. RELATED PARTY DISCLOSUREI S There were no related paty transactions for the year ended 31 December 2024. Page 14