2023-12-31-accounts

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited Brooklands Museum Trust Limited {A Company Limited by Guarantee) Report and Financial Statements Year Ended 31, December 2023 Charity Number: 296661 Company Number: 2109945 Page 10138

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands MuseLJm Trusi Limited Report and Flnancial Statements 31 December 2023 Content5 Statement from the Chairman Chief EKecutive's Report 5-11 Trvstees, Officers and Professional Advisers 12 Report of thÈ Trustees 13-17 IndÈpendent Auditor Report 18-20 ConsDlidated Statement of Financlal ACdvI￿ÈS 21 Statement ol Flnancial Positron 22 statement of Ca5hflows and Consolidated StatomÈnt of Cashflows 23 Notes to thÈ A¢counls 24-37 P8g8 2 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 8rooklands Museum Tiust Limited Statement fyom the Chalrman Brooklands M￿Se￿m is a rÈslllÈnt org)nisation that has expe¥ienced many change5 and challeiiges over the last three years. The strength of the organisation Comes from it5 people stafl, trustees. and volunteers. Their dedicatioTr and hard work ensure improvement5 can be tnade enabling Biookland5 M￿seum to contiTh￿e to be an increasingly popu13r destina￿an for visitors. whlle preserving this slgnlfrcènt slte and collection of British motorlng and 8vlation heritage. Brooklands Museum condnues to dellghi visltors- young and old. ÈnthuslJst and non-speclallst by capturing the Imagination of all those who visit with our siories of risk-taking. Innovètion and world firsts. 2023 was always going to be a dlfticulÈ year following on fiom the Covid pandemic and the impact of ramparkt Inflation. Not only dld our visltors not return In the pre-co￿ld numbers andclpated butweweie badly hit by input price escalation and staff shortages on the caterin8 and hDspiEality sldè. Parts ol our organisation were underperforming particularly in marketing and wlth some events. By th15 time13St ye3r, we could see the odd green shoot sprouting and we had lotake the decision v4hetherto slash Ouf Costs to prÈsÈrve a ￿aSOnable result for the year or to continue to invest and strengthen our DpÈraMtsns in areas of wpakness. I'm dÈllEhtÈd that thè senlor leadershlp team and trustees chose the latter route and although we finlshed the vear on budget albeit with a loss bÈfore depreciation of Some £365l thi5 current year has bounced back with Brooklands tiring on nearly all cyllnd2r5. By ihe halfway mark in 2024, aur footfall was 17% above last year, our vield5 improved aswa5the onsite spend. Membershlpalso leached new height5. A5 a result. we lookforward to a surplus before depreciaiion of £1SOk for 2024- a turn F￿nd of SOMÈ £5￿k- sublectof course to reasonable wÈathÈr durlng the 5umrner holidaysl We tonttnue to put our vision of in5pirinB people to shape the future through Brooklands, hi5to¥y of innov3tion and endeavour at frDnt Ènd centrp Df all we do WEth pducahnn permeating through all our acttvities. Our new Barnes Wallis exhibition. with the backcloth OF hls incredlble StralospheTe chamber. commemorating the 80¢h anniversary of the Dambusters A21d and the part played by thÈt extraordlnary designer and engineer was a signilicant addiknon lo our displays. The Brooklands Innovatton Academy goes from Strength to strenEth in partne￿hIp with the 8ourne Education Trust 2nd we wtre thrillod to be awardÈd tho best LÈarnino Pro2ramme of the Year In thè Museum + Fteritage Awards 2023. Our Staff Team have all worked Incredibly hard during this difficult year. and Indeèd slncÈ. Without thÈir skllls, Pa5slon and comtnittnent we would not be makinR the progress we are now athlevlng. After over five year5 01 heavy lifting. Tamalie Newbery our CEO decided to move on last autumn and I cannot thank her enough lor her masslve achievements In that time and abtsvè all tor leadlng u5 through the difficult Covid perlod SD successfully. After a rigorous interview process, we We￿ delighted to 3ppoint Alex PatteF50ll a5 our new CEO. With his six vear5' experier5ce at Brooklands. he is admirably placÈd to take us through the next stages of our development. Our volunteer5 are 50 specSal to Brookland5. and I salute them all. Trlp Ad￿Sor Comments time and tiFne again reflect how our volunteer5 have enthused our visitors truly believe they are tsnlquo. Also, our Brooklands Members are very special 3nd thelr ctsmmlttee and all its achievements. I would Ilke to tharjk Nell Balley who reti¥ed as thelr ch3liman after nine year5 in offi￿ and I welcome Kevin Lee as he picks up thÈ retn> I would like to thank all Dur partners who work £losely WEth us And especially Professor Brian Cox, Lord Andrew Mawson and the Bovrne Ac4demy TrLfSt who tr>8ether wlth all the 5pon50r5 Tn8ke the Brooklands Innovation Academy SD Sutcessful. A150, the Bu5 Museum which adds an extra dlmÈAslon to OLJr vlsitor ÈxperlÈn¢È aftd the Herltage Skills Academy. It hasbeen a real privilege formÈtoworkwlth such an accomplished, committed 8nd enthused bDard oftrustÈe5. 15hould particula¥ly l¢ke to thank Captaln Mike Banni5Eer, myvice Chairman for his w¥5e counsel. Neil Austin who (halrs our Audit, Risk and Governance Commlttee. a5515ted by Oorninic Anghlleyi and Adam Tyrell. and Slmon Page 3 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited Mtchaelides for hls support on our marketing efforts, Rob Halloway rÈ￿r￿ as a trustÈÈ durlng the y&r as his employment took hlm abroad and RandySes50n znd Graham Chisnell reyre at Ihe forthcDtTtingAGM I'd Ilke to th8nk them all lor their support. FSn8lly, my term as Chairman comÉs to an end at the forihcomlng AGM. The last nine years have flown by. been great fun 3nd, despite Covid and everythlng else thrown at U5, we have achieved an immense amounl. It has been a real honour to lead this unique museum and I wlsh to tongfatulate Mark Seligman, my successor, on his appoiiitment and wish hlm a smooth flight with little turbtJlÈncel I'm truly touched that the board of tru5tee5 wishes to appoint me president and I look forward to supporting the mus@￿M in whatever vlay I can in My new role. Sir Gerald Acher Chairman Page 4 0138

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 BrDoklands Museum Trust Limited Chlef Executlve's Report 2023 was alway5 anticipated to opprationally be a challen8ing year due to ektetrsal factor5 of high inflation and the impact ol the cost-ol-livin8 crisls, potentially Ilmiting peoplel discretlonary spending on thÈir lÈlsute activit?e5 due to tighter personal ffnances. Thls pÈriod of financial constraint occurred as the M4Jseum continued Its recovery from the prolonged effects Df the Covid-19 pandetnic. However, we were determined not to scale b3ck on Bll plans for 2023, but rather we focused on improvÈm@nt strateESes to ensure we are prepared for the future. The organisation did well to effectively manage costs in sÈvÈr21 area5 despite piice increises on materials and products. However, the spike in Inflafjon meant additional pressures across all departmenls, particularly being felt in Brook18nds LimltÈd ITradlng Sub5idiaryl. Vlstallon to 8rooklands Museum for 2023 remallled steady. While we did not see èxcesslvÈ growth In attendance, it did hold at 162.102, a marginal intrÈasÈ of 714 aEain5t 2022 figures. and is 3 9,OOD improvement against the bkndget fortheyear. However, the L62.1021s still b@low pre-COVID levels and a lot olwork throughout 2023 was undertaken to put in place a plan for Erowth In the comlng year5. Visitor incorne lor 20231£2,1188921 was up 12% on 20221£1,884.7S41 however fundralsed IncomÈwasdown l£1,148,4561 versus 2022 IE2.007,9291. This was partly duÈ to several keYErants coming in 2D22 for capital wolks to the Clubhou and limited capaclty within the FurÈdr3islng team to pur5ve additional revenue fundraising activtty. The overall Group posltion fDr 2023 15 an unre5trlcted operati￿8 delicit of £365.205 ￿fOre dtpreEla￿On. Th15 reflects in-year challenges ol high Inflauon, lack of fundraising capacity and under performance ol hospltalltv. The operating cash ffow in 2023, excludin8 the CBILS102n repayfflerlts, was an out flow of £148.199 making the ash balancÈ at year end £1.229*01. At year Ènd the balance on the CBILS loan was £645.831 and thls Is being iepald in equal monthly iastalments through to August 2026. Given these challen8es. 2023 h3d to be a year Df revipw, investment and chanee. The £ommSsslonlng Of several key studtes thro¥ghout 2023 Buslness Plan. Marketing and Fundraising reviews have enabled the senior leadershipteam to idenllfy actions required th Ensure BrDoklands Museum becomes financlally sustalnable, Thls work is to a live-year horizon, wlth thÈ core oble¢tive of sustainably growing revenue to generate ahnual surpluses to build up our reserves and allow for incromenral investrnent In site. RecognlsingthÈ p05ition thp Museum was in durin8 Z023. the budeet for 2024 was set with a cleargrowth tareet of 8% enabling thÈ Group to finish the year on either break Èven or 5tnall surplv5 P051Uon. Con5clous that irnple¥ner¥tahon and retum5 caTr take Ume to yleld results, c1(￿e attention Is beSng pald to both progre55 and the potetltihl r5sks that may preverst ta¥gets from ts￿1￿6 met. Revised forecasts are key to ensuro business decislons are tsken on fact, enabling the senior l@adershlp team to proactively make declsions and Impkment actiwltie5 that enhance perforMa￿e and athleve annual Erowih targets. As wlth any mUltifa￿ted organISa￿On In the tharlty sector In challenging Ume5, It ha5 been importsnt to ftrcus on the acknvity that can ovickly make a difference. whlle Continulng to deliver cole charitable objecrives. The pace at whlch we can develop our longer-term plans have bÈen Èased allowing the team to focus Dn the operational prlorlties to enab￿ us to enhance our efficiency and Èffectivene55. Much of the reward for the changes implemented wlll be felt Ilorn 2024 onwards, however. it has been importsnt to establlsh foundati0Th5 during 2023 to enable this to happen. Stepping up to the role of Chief Executive in November was a huge privile8e. l am grateful to my predecessor. Tamalle Newbery, for putling in pl&ce the buildlng blocks acrossthe orEar>I￿titsn forthe next Stageof Brooklands MusÈum's journey. As the organ¢sation looks forward there Is much t¢ do, however, 8rooklands Museum has successful track record ol delfvery - froffl nallonally recognised exhlbittons and learnlng proRrarnmes. the signllicant partnerships and relatlonshlps fortned eThabltng us todellver on a i3n8e of areas, to the proEre55 made in organisational development. l atn Eonlident that the foundational elements are in pla£e lor 8rookl&nds Museutn to achieve financial sustainably and to Invest In enhancing the site, collectlon and visltor expedento. Page 5 0138

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Nuseum Tru￿ Llmited Thi5 ensures that both current and f￿t￿re vi51tors can understand and experience the history significaThce of the achievements of the men and WDmen who made Brooklands. Vlslon and Purpose Brooklands Museum'5 VlSiOII IS.. To inspire people to shiype thefvture through Brooklonds'historyof innovoiioh Jndendeovour. BrooklaTrds was the cradlÈ of Brltish Innovation endeavour in the worlds of motorsport and aviation. Today. BrooklaTrds Museum celebrates the passion, bravery and invenknveness of the men gnd wornen who designed, bvlli, rated and flew machlnes Ilke those In our Collecllons, on the historic site. throughout the twentieth century. Vi51tor5 can immerse themselves into the Brookland5 StorFe5, and discover firsthand the qvalilies, skills and innovat(ons of It5 pioneers. en8ineers and 8dventurÈL ThÈlr Impactful contributions continue to Insplre us today shapine thè future of Brooklarbds. The Museum has thiÈe corÉ purpose5'. 11 We celebrate Brooklands. its people and thelr achievements. 21 We a￿ 3 placè and tommunily where inventtveness. experti* and corMpelltivene55 Ilve on. 31 We use our Collection al￿ Heiitsge to encourage innovation )nd endeavour, today and in the future. W&achle￿ theseth¥ough a varietyofatuvlties that includè tspèra￿ng Brooklands MLfSeum as a vlsltorattraction, delivery of 8n award-wlnnlng learning prograrnme. community engagement, a dive¥se programme of events and activI￿eS and supporbng a rommunity of passionate volunteers and members. SttatÈglt RÈport uslness Plan lew Consu5taMts Britton McGrath were appointed in January 2023, to ￿ndertake an In-depth Teview of the Museum's business operadon5. Flnancial sU5talnabillty and Krowth are key fo¥ our ltsng-term piosperlty. Thls revtew provlded the opportunlty to examlne each area of the Museum's oporation ob1È¢tiVe￿ff, identilylng potential r¢ew activity thBt could lead lo a slep eh8neÈ In our ablllty ¢0 generate the surplusÈs rÈqulred to rp-invest back into the site and preserve the collecmon. The revlew had a live-yearhorlzon and has prDvlded 3 Structured Irarnework for future budgp.ting and growth targets io be planned against. The BuslnÈss Plan review continues to be an important benchmaYkin8 documÈnl and wtll evolve a5 the perlorrnance of Brooklands Museum tty)tinues to Improve. MèsÉer Plan OevelDprneTrt of the stte wide MastÈr Plan continued throughout 2023 which was lÈd by the Head of Major ProlÈtts and Interpietation and the former CEO, T31nalle Newbery. A key part of thls work was to engage with Elmbrtdge Borough Council to Share our insights before luftheT work conknnued. Work has been undertakÈn to Identify the next project thèt wlll delNer the cole aims of the Master Plan, parkncularly investing in our slte and collection to improve the visltor eKperien¢e at Brooklands Museum. This process has been £onducted In tandem wlth a review of credlble fundln8 OPPOTtunldes to ensure a realisdc mÈlrame and income tsrgets be mEt. within this framework, we idenlifled th8t a new experience inspired by ihe centenary of the 1926 British Grand Prhc. allgnlng with our core themes of Innovadon 2nd endeavour. Pagè 6 of38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum TrLJSt Llmlted would be the most approprlate next phase of the Master Plan. Initial planning commented at the end of 2023, and dpveloprrtent work is set to progress throughoui 2024. Fundralslng Fundraisin Revlew A fundraising ¥eview was tommlssloned in 2023 to assess our current lundraising opÈradon and areas that we can develop along wllh future opporttsnifjÈs. This work was delivered by an Independent consultant. Magdale Figher. The lindings of her report hlghllghted the deci510D to appointa new Head of Development, enhanclng our ¢apabilitie5 to achieve our full potential. Lar e A lication5 Several resrricEÉd IntomÈ grantapplications were successful In 2023 totallingE470,OOOwith funds bein8 re￿Ned over the nekt two years. These 8rantsare for long-term projects that will Ènable a step ¢hange in our fundraising capacity and to delNo¥ 8 new Interp￿tation slyategy that embeds our vtsltsn wlth our wllection a£rDSS all areas of our future development5 On 51te. National Lottery Heritaae Fund- an Èpplicatiop lor £IOO,ODOwas made to the Reslllent HÈrStaEÈ fundlngstrearn in sumtner 2023 for a two-year projÈct to support initial staff costs for the Head of Developmont role along with Investment in new back-ol-house systems to make Durfundralslng operatton more èffective. We were S￿tte$s1￿1 In NovombÈr 2023 wlth the recruitment of the new roletaklng place in quarter one of 2024. The new appointee wlll bè responsible forthp implementation and delivery of recommendations from the Fundraising Revlew. ational Lottery Herlta¥e Fund aA appllcation to ihe Dynamic Collections fundlng stream for £235,0(Xl wa5 approved in January 2023. The project. Brooklonds Stories Uncovered, Is workng WiEh thrÈe targÈt groups young people from dlsadvantagtd b3ckEraunds, the LGBTQ+ community and neurodivergent people researchlngstories and objects in ourcollethoris. A pritnaryoutcnmp. ()f thi£ project is to develop our overarching interpretation Strategy which Is rooted in peopl@, innovatron ènd endeavour and will support the long-term development of our exhibitioTrs and experiences. Engert Watford Motor Muum- an application for É135.000 was suctessftjlly sÈcu¥Èd sn 2023. The fund will support the restoration of thè Museum's Duesenberg engine-a Brooklands pre-wat 51ngle *ater car, which was the fourth fastest arouTrd the Outer Cirtvit. on￿ complete, the car Is scheduled to run at key Brtsoklands Museum events. Fundraisin General In-year revenuÈ fundraising to support our Learning programme, Ihe 8rDoklands Innovatioj Academy, strategic development ol the Master Plan, site improvement and worklng wlth thÈ collection totalled £858.904. We arÈ very g¥ateful to our dnierse rknge of funders including the Walton Ch8tlt¥, Elmbridge Borough Council and our supporters from the Ploneers Group. We were limited In what we were able to false durlng 2023 due to capacityi however this has been remedied with the new Head ol DeveloprTrent belng appoSnted in quartÈr one of 2024. Brooklands Members co¢)tinue to be a huge support to the Museum with overall membership numbers maint25ned at over 7,000 in 2023, contributirbg £552,000 In In£ome. In addition. the proeramme of talks and events th@ M@m￿r Committee orgafiises provides both val￿È to our metnbpr5 and supports overall fundrdiStn8 efforts for the Museum. With the election of a new Chair of Committee, Kevln Lee, In Auturnn 2023, there continues to be a strong posltive relationshlp. Page 7 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited Museum Activitie5 Lèarnin &En ement In 2023, our schools pro£ramme saw continued succÈss. engagingover 14, 231 students in our learning initiative5 throughout the year, m3rking 3 20% increase on 2022111,8991. Pari ol our learning programme Is generousty supported by the Walton Charity, and we are worklng closely with schools In Elmbridge. providing experiences via our learning proÉrammÈ for pupils to Sntera¢t with local history that has national signili￿￿￿. Our partfiershlp wlth BoLJrne Education Twst developed further in 2023. and WÉ continue to woik w4th a sètonded Secondaryschool science teacher who spends one day a week at the Museum. Part of thelr work Is to suppoil U5 develop our STEM offeringi ensuring St Is ￿levant to pupi15 while encour3glng dlffeKÈnt ways ol enEaelnB with s¢hoo15. The strength of thls partnership was rÈco2nised In May 2023 when we were lolntly awardÈd rhÈ BÈst learning Programme at the Museum * Herltage Awards. The Brooklands Innovaiton A￿derny. a core part of our Learnng Dulput, alsD went from strength to strength in 2023. WÈ tonmnue to work ID parEnership wlth WellNorth Enterprlses to dÈllverthe Academy pro8Tamme, which culminated in a one-day event in October. This year we were fortunate to h8vÈ Profe5$0r Brian Cox attend for the day, presenting 2 serles of engaging talks to the 390 KS3 students. Her Royal Hlghness, The Duche55 of Edlnburgh. also attended the event and was given an oveTvlewof the Innovailon Actdemy and thÈ core purpose of engaging more young people in STEM carÈerL We arÈ grat2ful to 0￿r lead sprjnsor. Haleon, who also dellvÈred hand5-on workshops for Students along with a speaker for the rfay, Other partner5 included Ashlord 8nd St Peters NHS Tiust, the Federation Skills Trust and SL¥rrey County Council. Further to the day itself the Learnlng and Engagement team have run a serie5 of le3d4n activities on site and 8t school assemblles, reaching over 1000 students in 2023. Collections The Museum were successful in its acquistion of the test fusÈlaeÈ ol the Hawker S£ddeley P.1121 from the RAF Museum who had put it up fordisp05al from its own collection. WhSle the aircraft never made it into production, the P.1121 is a prlme example ol aeronauucal desSgn and supports our key ifiterpretation iheme of innovatlon. It Ss intended to go on dSsplay In the Ilrooklands Aircraft Factory once the appmpriate conservation work has been undertaken. Durlng 2023 the Museum acqulrÈd 2nd actÈptÈd twenty-thTee item5 into the cellethi)n elther as dOna￿On5 or loans out of a totzl of 160 offe￿d Items. Some ol the highlight5 are a fant2stic new loan of the camera and phoiograph albu¥N of Ivan Drewltt who was employed by the Locke-King family to take photograph5 of the building of the track and a palr of Toby WallbÈnk's (the driver of the Lorralne Dletrichl Goeeles. Inter retadon 2023 marked the 80 annlversary of the Darn Busters Raid. We used this as an opportunity to redi5play the stratosphere Chamber. enhanclt)g the Interpr@tai(on and br(kdening the Tharra￿ve of the Bame5 W311i5 Story. This was very much a staff and volunteer collaborabDn that hzs brou￿ttOgether keyexhibits and stories ¥elated to Bames Wallisi providing our visltors an insight Into thls nationally si8nifi'car¢t 201h century Èngineer and whal he 8chleved at Brookland5. The Brooklunds Storffes Llnrovered project cornmenced In June 2023 followlng the succe55ful receipt of funding frorn the N&tional Lottery HeritagÈ Fund. Two new ro￿$ were establlshed specllically to deliver the project- a Community Engagement Qfficer and Collection5 Research Officer. They are working closely wlth the Collections and Inte¥pretsknon team to identify objects and storlestoworkwith our key communllygroup5. A ciucial elemeTrt of this project Is lo brln£ in groups who do not normally vi5tt BroDklapd5 aad seek their perspecdves on our Page 8 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited h15tory. making it relevant to them 3nd uknmately to our vlsltors. The outcome of thls work wlll Inform a new interpretation strategy as well as our atknvity programme to make our hlstory more inclusive to a broader &udience. The team worked closèly with Learning & EngAgement throughout the year to delwer a dlverse programme of activitythroughout key holiday perlods.Thls Is crucial to engaEe ouryoun8er audlencewhlle provldlng a dlffÈrÈTht experlen£e lo v151tors du¥in8 busy perlods when schools are off. Herita eEn snee In A sub5tanknal èmDunt of woik occurred in 2023 to maintain our heritagÈ Ènglneerfng collection, includin8 the Fegulzr maintenance and runnlng of ourhi5toricvehicles. Weare onlyable to achlevethlsthrouEh 3 collabora￿0￿ of Staff and volunleers and this p12ys a crutlal part in helping to keep th@ slte Ilve forvlsltors. Dernonstr3tion runs happened throughout the year whl¢h enabled visiEor5 to see the colSection running on ihe Flnlshlng Stralght, givin8 them a flavo￿r Into the vibrant atmosphere of Brookland5 durlne Its hÈy<ky. Conhnued improvernents In the Aircraft P3rkoccu¥red throughout 2023. This includes a repalnl of Concorde and preparation work to paint the Sultan of Oman's VCIO. The HeritagÈ EngifteÈring Manager is reviewing the lone- terrn straleEy for 2 programmÈ of painting to ensure these important herlta8e assets are maintaned for the future. The restoration of the DuesenberB englfte was initiated in 2023 following the suttessful recelpt of lundlng. The engine wassp.nt tn engineering speciallsts Crosthwalte & Gardne¥ to undertake ar¢ In-depth 5ufvEV priortoworks belng cornm155ioned. This work will be onguing and h35 a tniTrimum two-year pro8ramme for completion. Estate u kee and B¥ll 2023 the completion of the Clybhou5e Arcess and Renowdtiork project. Thls was partly funded via the Arts CDuncil Ingland MEND fund and ElmbridE@ Borough Cou#cll'sCIL Fund lorwhlch we are verygrateful. Slgnilicant investment In the exteinal roof slructu¥È, wlndows and the Iconic CILsbhouse Tower has now made thls building watErknght and we&the¥proof. The 1nstèlla￿0n of a new Ilft to the fi'rst floor atkd the creadon of a nÈw mÈÈting space, The Locke Kin8 Room. has not only improved access and use ol the fi'rst floor but now prowde5 the Museum wlth a new meeting roDm that can bÈ used both iDternally and foreKternal hire. We held a celebration event tg mark the CoFnplP.ho￿ of the works in June where representstives from Elmbridge aorough Countll, ACE and our community were invited to see firsthand the investment tnade in the Clubhouse. The rnain Clubhouse boller falled in aututnn 2022 and significani investment was made in 2023 for this to be rep13ced. The works were CDmplerÈd in early Summer 2023 resulknng tn drawtic)Ily Èmproved the buildngs tspÈrafjon durlng the winter months. A svccessful lundlng application to Lo Case for £7,745 ènablÈd us tth upgrade our lighting across the slte to become more Enewgy efflcient. All buildings have now been fttted w¢th LED lighting impTovlng our Opera￿onal COSts. Work was undertaken to review the 51tewide FI￿ Al&rrn system to Upgrade to 2 fully addressable system. Ftsllowing & cotnpellfjvetender process, thls work was agreed in winter 2023 ready to be ctstnrnpnced 2024, Page 9 of38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands ML¢seum Trust Limited Mtsseum Opera￿on5 Marketin The prSmary focus ol the 2023 marketing acknvity. In addltton to promo￿nE our busy events programme, was 0￿r summer tampèlgn. Thls was multifaceted. utili5ing a ranee of medla types and reach which includeif Ovtdoor at WeybrldgÈ Traln Stsyon, Petrol Pump5 and other dlgital signage within an hDur's drlvÈ ￿TrIÈ of 8rookland5 Museum. A short promotional film was commissltyned and produced for cinemas, showing at &Èveral tlnemas throughout July Én Southwest London. A str3tegic review ol oui marketing was undertaken In a￿t￿mn 2023 by an external consultant. Rick Lawrence. This was an opportunity to examine how the summer and longstandln8 carnpaigns performed aga4nst growt target5 and long-term asptraknons. One of the key findines was to slmplify the approach focusing on two areas.. 11 Enthusiasts Members- utillslnE our owned rnedia channels to keep them informÈd and engaged 21 Family Market wlthln an hour's drlve ol Brookland5 Museum- IdenNfied as a core growth market attd where the primary focus of thÈ markeknng budget should be spent. The review identified the need for a whole year media plan that mapped our èxtensNÈ Èvents programme and maln vlsltor offor to ÈnsurÈ WÈ maxlrn15ed spending at key points in the year. In rea4lness for the 2024 sea5011, the team st3rted ImplÈmenUng Several ol the key outputs on our dlEltal channels to improve aw8reness gnd visibility wh¢le planning for the full year media ¢ampalEn. The core of all this work is to drive footf311 to support Èr¢)wth throu8h admlsslons and secondary spend In the coming three year5. Site o eration We conllnued tD recover lull operatiop in 2023 following the Impacts of the COVIO pandemic. By February we were finallyablc to tncreasÈ tou££a￿tI￿@S on Con¢orde, moving from 12 to 16. it)creaslngouroverall avallability and meeting dernand. Thls change 55 cru£lal for IK)osting ￿venUe generated from Concorde. Throughout 2023, investment was also made In recruidng voluntÈÈrs, w(th J particular focus on bolsterlng our stewarding teamsdurinR vulnerable periods. As an organlsation th3t dependson the goothNill and passlon of our volunteers, we are keen to ensure we provide both thÈ support Jeeded and11gteTh to the concerns when raised. In July a new Volunteer Programme Man3ger was appolThted and h35 dp.dicated much of hls time to linding 501utiDns when issues arlse and supporhng volunteers when needed. (Xsr volunteers continue to SCDre excepdonally hlgh on post-visitor research and TrlpAdvlsor rpviEW5. Folk)winga recommendation fromthe guslne55 Plan review, we Invested In a newtickcting plarform-SEE Tickets Ehat went live in A￿gUSt 2023. The new plarform h3$ streamlined online ticket purchases. n￿kIng It easler for the vlsltor andls supporting thegrowth of 3dvan¢ed 5ale5. Theflexibility of the newsystem will allow all ticketed elements to be sold through a single platForm. optimising Costs and enhanclng effi¢lency for the staff team to deliv@r. 2023 sèw the return ol our CoTrcorde Signature evenls, Including our Gold and Silver Simulattsr experiences. These a￿ an Important revenuÈ eenÈration strearn which had ljeen Dn hold dije to Covfid. The succe55ful ruitment ol an experienced staff member to review, devek)p and deliver these events has led to all these events being 501d out In 2023. The Signature Event offer is being reviewed for 2024 to explore the opdons for new prtsducts and the abllity to incre3se availabllity to meet dernand. Events The lingering impact of COVIQ continued to affect OL¢r events prograrnme in 2022, however, we linally achieved a full year of acknvity in 2023, marklng the first uTrinterrupted year slncÈ 2019. The NEW Ve3r'5 Day Classlc Czr Gathering welcomed over 50(KJ ￿SItorS and was a posltive way to start the calendar of events. The opportunity Page 10of38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Musèum Trugt Limited was taken to reshapè and refo¢u5 events, with the Introduc￿on of several new onÈ5, including Working Vehicle5 Day in July and French Day in August. The rebranded Best of British Day was held on the Bank Hollday Monday of the King's coronation and proved very popular. A great array of British cars W￿re on dlsplay, embodying rhe spirit of Brooklands. In totsl, our pveTrt5 we￿O[￿ed over 54.751. This prDgr3mme Is an Integ¥81 part of how we tell OL¢f Story and bring the slte to Ilfe while deliwer(ng on key IncomgÈneraUDn and footfall goa15. Ni)w our catering is in-house we hwe giè2ter flÈxlbillty in out50urcin8 event day food vendor5. and this has been a real bonus lor 2023. The range of options available and themed vendors to the events has added another dlmenslon to our program￿. The programme will be further developed in 2024 to ensu¥e that both our visitors and members eèt the lull benefit of these vibrant days. Future Plans As we move to 2024. the locus of the Senlor Leadership Team is embedding the ch8nges In dally operadons to ensure delivery is ÈffÈctive and efficient. By improving the day-to-day dellvÈry perlormance and puthng in place the changes of staff resDurce5 to rnan3ge thi5, the headroom will be ueated to on the next stiges ol our development. In the comin8 year. a new ffve-year plan will be developed wlth Trustees that will outline the PNOtal developmental areas for Brooklands Mustum. Thls wlll be Informed by the work of the Master plan, B*JsinÈss Plan, Fundraising and DnarketinE revlews. UndÈdlnlng all ihi5 work will be a piogramme of growth and revenue generation to ensure the Museum's long-term financlal sustalnablllty. Alex Patterson Chief Executive Officer Page11 of38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited Trustees, Officers and Professional Advisers Royal Patron HRH Prince Michael of Kent Presldent Yhe Duke of Rlchmond board of Trust¢¢s Chalrman Slr Gerald Acher CBE LVO Irèslgned 18thJuW 20241 Mr Mark Seligman lappolnted 18thJuly 20241 Other Trustees Capt. Mlke Bannister Iwce Chairl Mr Neil Austin ITreasurerl Mr Graham Chisnall Ireslgned 181blu￿ 20241 Mr Robert Halloway Irt5iÈned BVh November 20231 Mr Simon Mich3elides Ms Marllyn Scott MDE Mr Mttik Sellgman MT Randolph Sesson Iresigned 18lh July 20241 Mr Geoff Want Ms Ge￿gI￿a Wo Secretary Mr James Thorne Museum Dlre¢tor & CEO Ms Tamalie Newbery (resigned 27th P4ovember 20231 Mr Al@x Patterson lappDlnted 271h November 20231 Bankers National Westmlnster Bank pl¢ 73 ￿18h Street Walton on Thames Surrev r12 IDW Solicitor5 Barlow Robblns LLP Concord House 165 Church Street East Wokin8 Su¥rev GU216HJ Independent Audltors Monzles LLP Chartered Accountants Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP Reglstered and Prlndpal Oflite Brooklands Museum Brooklands Road Weybridge Surrey KT13 DQN Chavlty Reglstration Number.. 296661 Company Heglstratlon Number.. 2109945 Page12Df38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited Report of the Trustees for the Year Ending 31" December 2023 The trustees 3Te pleased to present their 2onual dlrectDrs' report together wlth thÈ consolidated f(nantlal Statements of the charlty and it5 subsidiary lor the year ending 31 December 2023, which are also prepared lo meet the requirements for è d1￿CtorS, report and 8ccounts lor CompaTries Acl puryose5. The financial statement5 comply wlth the Charlties Act 2011, the Companies Act 2006, the MemoraJdum and Articles of Association, 3nd Accou￿ting and Reporhng by Charities.. Statement of ReEomtnended Practice appllcèble to charities preparing their accounts in accordance with the Financial Reporbng Standard appllcable In the UK ?nd StÈpubllc ofr Ireland IFRS 1021 (effective l January 20191. Charltable OblÈttlvè Brooklands Museum Trust was incoyporated in 1987 wlth the folltiwing objpctive.. "Theob}ectof the Trust shollbe to publ1¢ education thehlstoryonddevelgpmentof road vehlcles ond irtrttft (Fnd objects of whotsoever njture reluting to fOULI transporr ond flying, und In porticular ulry of the foregolng Lvhlch (Jre associated in any woy with Brooklonds ut Weybridge Pn the County of Surrey, Biookl(Fnd5 ALltomobile 8o¢ing Club ondBrooklGndsAero Club." Flnanclal Revlew The 5talernent of financial activities lor 2023 shtsw5 an in yeai. unre5trlctÈd opp.r3ting delicit of £3GJ,205 before dÈpreclation. The depredamon charge wa5 £278,D39 glvlng an over811 unrestrlctÈd operatingdelicitof £643.244. This was in liTre with the budgeted defiat for the year. In year there were small. r25trictpd capitsl projects that have beÈn caplta115ed. The rest¥icted funds assuciated wlth these capital projects have been transferred to nTestricled, resulting in a DÈt unrestricted deticit ol E624,014. In 2022 the lin?1 Covid rolated govÈrnrneat graTrt was recèlvÈd1£129,6001, thp abspncp. of thls grant income mpacted the lin3ncial perlormance In 2023 whpn cnmpared to 2022. The hleh Inflation experlenced throughout 2023 drovp overall costs up by Il% con)pared to 2022 based on slmilar footfall numbers. A review of major contra¢t5 Ind tsrgeted efftclencles are helping to reduce the exposure to hlgh Inflautsn. The tradlng subsldl4ryp Brooklands Llmlted, had a busy but chal￿ngin&year In 2023. Whlle Retail performed well, hlgh inflation hltthe Qtering and Hospitalltyareas particularly har￿al￿ngSideOperati0nal challen8Èswhich were resolved mid-year. The yÈar End result lor Brooklands L*mited was breakeven de4)ite increased revenuÈ versu5 2022. Frorn the second half of 2023. 3 focused Tewiew of our tradlng s￿b51d13rY was undertaken wlth the alm of driving prolitabillty, tD ultimately support the parent charity in dellverlng it5 rharit&ble purposes. Thlrd partv experts were consulted to advlse on specialist areas of CateringlHospitalliy and Retail. It is eKpected that the performance of the tradlng subsldlary wlll Improve from 2024 onwards. Throughout 2023, the Senlor Leadership Team worked with 6rittors M£Grath Associates to develop a five-year business plat) to evolve the Museum's business model. Wlth lirnitpd reS￿VeS. it has been Important to have a cle3r Dbjechve to create a credible pathway to 8row Sustainab￿ to deliver annual surpluses to rebuild our reserve5 and allow for incremental Investment acrossthe site. As part of thls protÈss, all Income drfvers and cost bèse5 were analy5ed idenknfying both q￿Ick wlns and medium-term 5trategSes to deliver this sustsinable growth over thÈ flve-yeor peri(Kl. The implemèntation of a new ticketing plattorm in 2023, SEE Ticket5. has already yielded positive ￿Sults. The 5implitication of onllne booklng has Improved adwdnced purchaslngwhlle the 5YStem's flexibllliy has sienlficantly increased Gift Aid sales. on the door, especial￿ durlng event days. MarkÈting and Fundraising were two mediurn teim target areas for improvement whlth led to further work bEing undertaken in 2023 with clear Implementation plans being delSvered frotn 2024. Overall, the approach to 2023 was about planning, organldng Page 13 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited nd InvestlngforthÈfuture. In 2024the effects of tfvlsapproa¢h are belng positively reflected in the performance and the forecast throughout 2025 continue5 this trend. Prlntlpal Rlsks and Uncertalntles An Audlt Rlsk and Governance CDmmlttee Is established as a sub-committee of the Board of Trustees. The cDmmlttee has two independent members. A rlsk reg15ter has been compiled by the fxeturive team and Is reviewed annually by the Committee, and then by the Trustees. ThÈ most significant risks are discussed. and mitigatior) strdte8ies rÈvi@wÈd. The current areas of major potentiil r15ks to the Trust have been identified as the Mu5eLtm's on80Sng flnantlal resllience, rnainten3nce of the agihg site Infrastructure and Govern3nce in relation to upcoming board changÈs In 2024. Financial ie5ilience- The Museum is transltionlng ils business model to build up its rÈs@rvÈs and be ffnancial se1f-supp0rkn￿g. 2023 highlightèd the chall@neÈs the Museum faces as an independent chorlty 5elf-Eenerating all Its intome with Ilmlted reserves. A diverse porffollo ol Income generahng acttvity IlncludineAdmlsslons, Event5, lospltallty, Retail, Site FIiTe and Premium EKperiÈncesl Is viial, along wath the 8bilily to dilve VDlvme each year. Key to our futttrÈ rÈsillence are investment p18ns to ensure experiences and events, backed up wlth stratÈgl¢ marke￿n8, tan deliver market relevant content to eenerate new and repeat V151tation to sustain growth ovÈr successive years. As a vlsittsi ittraction, Brooklat)ds Museum Is susteptible to external factors including extreme weather and tOU8h cotnpetition in the marketplace that can Impede loorfall growth. The organisation is onsciou5 01 these ch3llenÉes and has mitiEatioD measures in place if income targets are missed. to ensure the Museum's futijre Is saftguarded. SÈnslble targets en7bedded in our annual budget PTocess are regularly rÈviÈwed, along with forecast and cashftows. atsenior leadership andtrustee levels keeplngtra¢kolperlormance enabling pm3ctivp. deci51on making. Ageing Infraslructure- ThÈ Brooklands Museutrt site has an hlstorlc legacy ol agelng infrastructure and limited building mainten8nce inheylted when the Trust assumed responsibility for ihè estate in 1987. In recent years there has been Invcstment in tho Clubhouse to relurbtsh key rlsk arÈ3s of the rrjof, towpr and balcony along With a new boilerand hot watersysiem In 2023. A full sitp Management Mainten3rÈce Plan was tommissloned in 2024 to pmvide a benchmark of works required for ihe whole estate. providing 3 rlsk-basÈd a55essrnent 3nd outlinlng costs to make It weatherproof and stable. Thi5 plan will be used to inform lon8-term plannlng and priorttise targeted intervention5 aloTrgside a programme of structured annual maintenance. This will improve bud2eting and malntenance cycle5 Wlth the ability to have IncremÈnial but ongoing irnprovements to slte Infrastructure and bulldings. GDvernance - The current Chalr, Sir Gerald Acher, stands down In j￿1¥ 2024. In addlUon to ihls there are five vacant trustee positions. To ensure a srnDoth transition and transfer of knowledge 3 recruitrnent process for 8 new Chalr has been implemented by the Vice Chair lo work wlthin the ll￿frarne. A skllls audit Is planned to 511PPOrt targeted recruitment of new trustÈes to ensure the Trust condnues l(F have the rorrect knowledge and experience to Support the development of the orE8n15ation. Within the remaining body of trustees there Continues to be strong corporate knowledge that wlll be shared with new trustees and the 5eniar le3der5hip team, mitrgattng thls potential risk. structure. Governance and Managemeni Governlng Dotument The Tru5t'5 8ovemln8 documents are the Memorandum of Understandln8 and Artlcles of Assocladon trf 1987. as amended in 1999 and 2008. The Trusr Is a registÈred <h£ritYi UK Charity No 296661, and 15 H registered UK company, rOgistÈ￿d t)umber 2109945. The Trust has a wholly owned subsidiary trading company, Brookland5 Llmited. ie8lstered number, 2321226. The Brooklands Members organ15aknon a150 functions as a wholly owned ctivity of the Trust. Furthermore, the TftF5t has a wholly owt)ed non-trading subsidiary coinpany Brooklands Pgge 14 of38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited Wirny Inc Incorporated in the State of Delaware In the USA, whose sole purpose Ss to Dwn Its VlckÈrs ￿rny rèp15ca ai¥craft, on the Museum's behalf, AppolntmÈnt of Trustees Current Trustees The trustees bring together 8 seleciiDn of d￿erse backgrounds, reflechne theTrust's totnmitment to incorporate a broad range ol skills and eKpertlsÉ. 2023. one of the trustees resigned due to the need to rÉlocate for a new At prE5ent there are curiently three vacancies on the Board wlth a further three due to become vacant In lulv 2024 when two tru5tee5 Stand down along with the currÈnt Chair. A recruitment processfor a new Chair was put in place for the first 4uaiter of 2024. Mark Seliamars, an exlsting trustee, put forward his candidacy and underwent a thorough Interview Pro￿55 led by the Vice Chair, MI￿ Bannlster, who convened the Nomlnatiens Commlttee. whith included an external panel member to provlde an additionzl level of scrutiny. Followin8 a successful intervlew. the Nomlnaknon5 Committee m?de 8 recommendadDn at the May Board meetingthat Mark Seligman be appointed as Chalr. Mark Seligman will assume Ihe role at the July 2024 AGM, following the retirernent of the current C1￿￿r, Sir Gerald Acher, For the remaining trustee vac3ncies, a skills audlt Is planned to be undertaken prior to recrulting the vac3n¢ positions toensurÈthe board hasthe rlghtskllls and knowlÈdgÈforthptsr8anlsation to besuccessful. Thls pl￿e$S is due to concl4Jde In the Second hallol 2024. Trustees Emerltus and Vlce Presldents The Board retain5 in honoraryadvlsory capacity a numberof retired senKJrTrustees, who are invited to 4ttend octaslon31 Board meetinES and, espedally. ¢ontynue to HSSlSt the Trustees alld staff with fundralslng, Trustees Emeritys are.. Lord TrefEarne Prof Michael Joy OBE stewart John OBE Vl¢e ￿eSIdents.. Allan Wlnn Slr Mlch3È1 Kadoorie GBS KB Prfnclples of Recrultment lor Newyrustees The piinciple is to maintain the widest P0$5ible set5 of skills and expÈrience ielevant to the Museum'5 business. Key aYea5 in which the Trust 5eek5 to maintaln 5tren8th ale finance. buslness management, marketing and heritage, with a balance of aviation and motorln8 Interests. A Remunefation and Nomlnattons Sub-committee composed of four Trustees handles this process knd makes reeommendaknons to the f¢Jll Board on Dew appolntments. Pago 15 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 8roDklancls Museum Trust Limited Trustee Indu¢tion and Tralnlng New Trustees are introduced into the trust's activities through a briefi'ng on their role and the business of the company from the Company Secretary and a brieflng on the activitie5 of thp company from the Museum CEO. All appropriate declarations are obtained from new Trustees by the Company Setretary. Copie5 OF the Charity Commisslon's guidellnes are avallable to Trustees. TrustÈe Indemthity We have prof@$51onal liability insurance of Élm provlded by Eccleslastical Insurance. Organ15aYon The Director & CEO reports to thÈ 8oard of Trustees and heads the staff strutture. Repoiting to the CEO Is senior leadership tearn who supporled hy 3 seFies of specialist dep8rtment managers. For 2023, Ihe organisation employed a total of 81 FTE staff ¢ompared to 88 FTE in 2022. At the end of 2023 the Director & CEO. Tamalle Newbery, stood down. An internal recruitment process wa5 carried out 2nd the E¥ecutive Director. Alex Patterson. WÈS appointed follovfjng an Interview proces5 led by the Chalr. Golng into 2024the CEO reviewed the organisadonal strutture whlch wa5 lrnplemented in February of this year. The simplificadon of the structure also included a refocus51ng of several rolÈs to enable the delivery of the lirst year of the busir¢ess plan. A laree numbÈr of volunteers Ic.8001 support the staff In numerou5 ways. The Trustees are grateful to the staff and volunteer5 for their collecuve and personal contributions to the Museurn'5 succe5S. Related Partles and Co-operadon whh Other org￿150tiOns Any£onnection between a trusteeorsenlormanagÈrofthe charitywith a suppllerorcustomer must be dt5closed to the full board of trustees. In the ¢urrent year, no such rel£ted partytransactions were reported. Pay PO￿¢¥ for Senlorstaff The Trustees are e55erstially the non-execut(ve Board of the Trust and dlrector5 of the compzny. They glve Ihelr time froety and no dirÈttor received ￿M￿neration in the year. Detai15 of dirpctors, expenses and related partv transactions 3re disclosed In note 10 8nd note 20 nf the accounts. No dlrectors recelved expense5 or had related party transactions dL¢rine 2023. The senior management team Iihe Dliector & CEO and senior le&dership team) comprise the key managetnent pe15onnel of the charity, in charge of dlrecting and tontrolling running and ope¥3ting the Trust on a day-to-day basls. ThÈ pay of the senior staff is reviewed along wlth that of all employee5 on a regular basis and incre8sed In acmrdante wSlh average earnlngq movements but increases are also Informed by the tradlng posltfon DI Ihe Museum. An element of any budgeted pay increase lor staff Is re5Erved for merit based ra15es over and above any 8eneral intrease. All such increases a¥e set within the 8Breed budget Ilmlt by the Director & CEO in consultauon wth the senior man3gemÈnt team.The5&1ary of the D¢rector&CEO Issetby the RemuoÈradon and Nominations Sub-committee of the Trustees. Publ1¢ Benetht The Trustee5 have had due re8ard to the Chzrity Commlsslon gUIdan￿ on public benefit. As a reglstered tharily, Brooklands MuseumTrusttakesvery5eiiou51y its responsibilities fordeliverinea ¢lear andtangible public benefit through its acknvittes. The prlnclpal 8rÈas In which it delivers this benefit are defined in the activitie5 to achieve IES aim5 aTrd objeciives as det2lled at the start ol the report. Page 16of3B

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brookiands Museurn Trust Limited Prfdng Poll¢y The Museum's management strives to achSÈve a balance between generating the funds requlred to m3intain and flÈvelop Irs heritage asset5 Znd making the Museum's displays and acknvities accessiblÈ to thÈ wldest possible audien￿. To achieve this balance, we try to keep the core admission price in line wlth slmilar attraEtion5 and commensvrate with ¢ove¥inE Museum running tosts, while creating premlum revenue opportunllles such as the Concorde Experlence to enhance overall average yield per vlsltor. We a150 encourage as manyvisltors as posslble to Gift Ald their admission. Reserve5 Polky and Golng Concern Brooklands Museum's policy is to hold ￿sh funds for a vBriety of purposes. described in its f￿ndS and reserves pollcy. The Intended funds fall into three broad categorlÈs'. l. Unrestricted Funds, provlrtlng the operating cash requlred for day-to-day runnlng of the Museum: 2. Deslgnated Fund5, determlrled by the TrustÈÈs from Ume to time to plan for the Museum's future needs. 3. Restrlcted Funds, restricted to a specific Purpose and whlch can only bÈ used for that purpose. for Instènte Ès a condition of a grant. The dp.signatp.d fund5 are b*Ailt from In¢ome that the Museum receives. whlth Is ouiside the revenue 5tre£ms included Sn the operating budgel and Is not REstricted. Cash SLtrpluses at the end ol the financial year rnèy be allocatÈd to de51gnated funds. The naturE ol the designated funds and &mounts allocated to ihern can be dÈtermlned and 4mended by the Trustees in accordance with ihis policy. Rest¥icted Reserves tompr15e fund5 committed for speclflc puiposÈs undÈr terms set out by the Thlrd Pariles, for Instan￿ dtsnors and funders. At present, thè Museum maintains the nÉtÈ55ary cash resp.rves lor its on8oinB opÈra11ons and dailv requiremÈnts, which includps the ba￿k loan obt8inÈd under the government-backed Coronavirus Buslness Interruption L03ns Stheme ICBILSI. We aSm to InuemÈntally bulld up our reserves as our resour￿5 permit, ensuring a balance botween the Museurn's future needs wlth ¢u¥rent reguirements. ThÈ lore¢&st projections for 2024 show a net P05iDvp. Surplus of£155,489 befts￿ deprecSation. This will be an in- year irnprovp.ment of £520.694 compa¥ed to the operating deficit of IE365,2051 in 2023. This fore￿St has been preparèd uslthg the first six months of 2024 trend data on tootfall and income. The staff team have worked hard to ImplemEnt the chan8es to deliver thls turnaround, howevei it Is Important not to bÈ tomplacent and be prepared for unknown ¢halleDge5 that may come along. RÈeular mot>itoring of results versus budget5 continues to be crucial to allow for mittgattng Measures to be ImplÈmented 11 required. The outllne fore¢èst lor 2025 shows a slmllar pÈrforman¢e based on a further 5% 8rowth on 2024 result5. The key to achievin8 thiswlll be to sustaln momentum, buildin8on the success of the current plan alongside tar8eted investment to Improve the vlsltor experience. The Trustees have considered both the revSsed 2024 forecast and anticlpated future trading throu8h to the end of 2025. Based on this evalLiation, and thp available cash resources Into a¢¢oun( they have concluded that Ft is approprlate to preparethe financlal statement5 OTh a goiTr8 concern basls. FundralsinE The Charlty is not a member of The FundraistnE Regulator. who hold the Code of Fundrai5iDg Practice torthe UK. However, ottr3pproath to fundraising Isto ensurethat, where prdcllcally possible, we comply wlththestandards as set out In the Coile 4rros5 all of our fundraising acdvlty, Including those relatit)g to vulnerable donors. We do not lJ5e any third-pa¥ty professloftal fundraisers to approach potential donors or supporters although we have Pag817of38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited workèd In partneY5hip with Well North Enlerpri5estO Secure support for the Brooklands Innovalion Academy. All fundralsers a￿ iequired to demonstrate an undÈr5tanding of the Code and make a commitment tts uphold its values when they loln the Museum. This year, we dld ni)t recelve any complaints related to the lundrb15in8 efforts, Approved by the Board of Tru5tee5 rald Acher Chairman Date". lames Thorne Secretary Date.. J810 4Ja Page 18of38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited Independent Auditor Report to the Members of Brooklands Museum Trust Llmlted Oplnlo We have audlted the fin3ncial statements of Brooklands Museum Trust limlted (the 'paient charitable compan¢) and its subsidiaries (the 'group'l foF the year ended 31 DÈ¢ember 2023 which comprise the Consolidated statement of financial attivitles, the Consolidated balance sheet, the Company balance sheèt, the Consolidated statement of cash flows and Ihe related notÈ5, including a summary of slgnlflcant accounting policle5. The financi31 reportin8 framework that h35 been applied in rhelr prÈp2ratKon is applicable law and Unlted Kingdorn Accountlng Standards, iDclu(fiTrg Finzncial Reportlmg St3ndard 102 'The Financlal Reportln£ Standardapplicable in the UK and Republicof Ireland. Iunlted Kingdom Generally AcceptedAccountlng Practlcel. In our opinion the financial statements.. give a true and falr v4ew of the State ol the Group's and of the parent charitable company's aflalrs as at 31 Decembèr 2023 and ol the Group's Incomlng re50uices and application of resou¥¢&. includlnE It5 income and expenditure for the year then end￿,. have been property prepared in accordance with United Klngdom Generally Accepted Accounting Practice., and have been prepBred in accordbnce with the requirements of the Companies Act 2006. Basls for opinion We condutted our audit in accordance wlth Intel[￿tiOnal Standards on AudltlnE IUKI IISAS IUKII and 3pplltsble law. Our responsibilities under those standards are further described in the Auditors, ¥esponsibllities for the audlt olthe finanual slatemeNtS section ol our report. We 8re Independent of the Group in accordancewith the ethical requirements thal are relevant to aur audlt of the financial Statements in the United Klngilom, including the Financial Reporting Council's F.thlcal Standaid, artd we have fulfilled our other ethical re5ponslbllitles in accordance wlth these requirements. We believe that the 3udit evidence have oL)talned is sufficient and appropriate to provide a basls for our opinlon. Conduslons ielètlng to golng concern In auditing the flDan¢lal Statements, we have concludÈd that the Trustees, use of the going CDrTrcern basis of tcourkting in the preparation ol the Ilnanci£l st&temenEs is appropriate. Based on the work we have performed, we have not iLlentined any matÈrièl uncertainties relatine to events gr condition5 thal. ifidividually or colleclively. may cast Sl8nlfScant doubt on the Grottp's or thè paiÈni charitable company's abllSty to continue as a Boing concern for a perlod of at least twelve months from wheTr the financlal statetnent5 are authorised for issue. Our responslbllÈtles and the responstbilities of the Trustee5 Wlth respecl to going £oncÈrn are described in the relÈvant sectlons of this report. Other Informatlon The other Information comprlses the InformatioTr included in the Annual repori other than the Flnancial statements and tsur Auditors, report thereon. The Trustees are responsible for the other informatk)n contalned wlthin the Annual report. Our opinion on the flnantlal statements does not cover the other Inforrnation and. extept to the extent otherwise eKpllcltly stated in our report, we do not Èxpress any form of assurance con¢lu510n thereon. Our resp0Tr51bility 15 to read the other Informatlon and, in doing so, conslder whether the other informatKJn Is materlally inconsistent with the flnancial statetnents oi our knowledge obtained in the Course of the audlt, or otherwlse appears to be materlally misstated. If we IdenWfy such tn3terial inconsistenc￿& or apparÈnt mate*ial mi5Statements, we are required to determine whether this gives rise to a MatÈ￿al mi55tatement In Ihe financial statements themselves. If, based on the work we have performed, we conclude that there is a materlal mi55tatement of thls other information. we are required to report that f￿t. We have nothing to report in thls regard. Page 19of38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 BrookLands Museum Tiust Limited Oplt)Son on other matters PTexilbed by the Companles Act 2006 In our opinion, based on the work undertaken In the course of the 3udit'. the ¢nformation given in the Trustee5' fEPOrt including the Strategic report for the financial year lor which the financial statements prepared 15 COTrSlStent with thÈ flnancial statements. the Trustees, report and the StrateEiC report have bÈ2n prepared in accordance with applicable legal requirements. Matters on whlch we ale required to report by exception In the Ilght of our knowledge and understanding of the charltable company and Its environment obtained in the course of the audlt, WÈ have not ident¥fied materlal misstBt2ments in theTrustee5' report includlnetheStrateEIc report. We have nothing to report in respert of the followlng matters in relation to whlch Companle5Act 2006 requires us to ieport to you il, In our opinion.. the p3rent charitable company has not kept adÈquate and sufficient atcountln8 rÈcord5, or returns ade.quate for our audit havÈ not been received lrom bra*)chÈs not v15ited by vs,. or the parent charitable company linancial statements are not In aEfftment with the accounting records and return5,' or rtain disclosures of Trustees, remuneratlon specified by law are not made,. or we have not received all the information 3nd eKplanations WÉ rÈquirÈ for our audit. The Trustees were not entitled to prÈparE the fiThanclal st4tements in accordance wlth the small comp?nlE5 regimp. and take advantage of the small ¢ompanies' exemption in prÈparlng the Dlrectors, rpport. Responsibllitles of YN5tees As eKplalned more fully in the Trustees. re5ponslbllltles statement, the Trustees (who are also Ihe d1￿ctorS DI the charitablÈ tornpany for the purposes of company lawl are rpspansible for the preparatlon of the financl31 statements and forbclng satlsfied that thÈy2ivÈ a tlueand fairview. and forsuch Intprnal iontrol as the.Truste25 determine is necessary to enable the preparatlon of financi81 statÈmenis that are free from materlal mlsstatÈmont, whethÈr d￿e lo fraud or error. In preparlne thÈ financial 5tatement5. the Trustee5 are responsible for assesslng the Group's and the parent charitable companWs absllty tu contiTrue as a golng concern, disclosinK as appllcable, matter5 re13ted to goirkg concwn and usingthe goSng concern b3si50f aCCo￿ntIng unle55 theTrustee5 eitherintend to liquidate the Group or the parent charitable cornpany or to cease operatSons. or have no realistlc altemative but to do so. Audltors. responslbllltle5 for the aud5t of the financlal st•tements Our objectives are to obtaln ie450Trable assurance about whether the flnanclal statements as 3 whole are IreÈ from material mlsstatement, whether due to fraud or eryor, and to issue an Auditors, report that Indudes our opinion. Reasonable Jssurance Ss a high level of 355urance. but Is not a guarantee that an atjdit conducted in accordance with ISAS IUKI will always detect a maierial misstatement when it exists. Mlsstatements can arise Iroin fraud or error aod are considÈred materlal if, individually or In the aggreEare, they could ieasonably be expected to influence the ecDnomic de£i5ions ol users taken on the basls of these financial slatements. IrrÈgularitles, Includingfraud. are instances of nun-ci)mpliance with18ws arÉd re8ulatlons. We desi8n procedures in lifie wlth our respDnsibllltlÈs, outllned above. to detect matÈrlal rni55t8ternents In respect of Irregularitles. including fraud. The extent to which our procedures are capable of detecting irre8ularities. intludlng fraud 15 detalled below.. The Group and parent ¢hailtable company are subject to laws and regulatlons that dtrectly 2ffe(t thÈ financial statements including financial reportltEg legislation. We determlned that the following laws and regulations were most signifl£ani In¢ludlng the charities Act 2011. Companie5 Act 2006, Employment Law, Health and Safety leglsl4tion. and the Food Safety Act 1990. We a55essed the extent of compliance wtth the5È laws and rpgulitlofis as part of our procedures on the related flnancial statÈmÈnt items. Pag& 20 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 BrDoklands Mustsum Tiust Limited We understood how the Group and p3rent charltable company Is Complying wSth those legal and regulatory framework5 by making inquiries to man8gÈmÈnt, those ¥espon5ible for legal and compllance procÈdures and the company secretary. WÈ ttrrrobofated our inquiries through our review of board mlTrutes. The Èngagptnent partner assessed whether the engagetnent team collectively had the approprlate competence and £apabilitles to identify or recogni5e non-compliance wth laws and regulations, The assessment did not identify any i55ues in this area. We a55e5sed the susceptlblllty Df the Grovp and siarent charitable compan(s financlal 5taternents to materlal misstatemÈnt, Including how fraud mlght occur. We considered the opportunities and incentives Ihit may exist wsthln the organlsation for fraud and Identified the greatest Polentlal for Iraud in the followiTrg areas..

PostlnÉ of fraudulentlournal entries PostinE of fraudulent payments and rÈ£Élpts in the ac<ountinE softW3rÈ Authori5ation, processlDg, and payment of fraudulent expenses Tlming of revenue recognitio Audit procedures pÈrfo¥med by the engagement team Included.. Identlfying and a5sessln8 the design effectlveness of tontrols Fnanagement has in place to pr￿etht and detect fraud., Understanding how those charged with governart￿ c9Tr5idered and addressed the potential for override of controls or other inappropriate Influence overthe financial reportlng proce55' Challenging assumptions and ludgmenls made by management ifb its significant a¢¢ountlng estimales,. and Identifying and testing journal entriÈs, In particular, any journal entries posted wSth unusual accounl combinations. Becau5E of the tnherent limitations of an audlt, there Is a risk that we will not detect 211 IrrÈ8ularlties, in¢ludlng those leading to a materlal mlsstslÉment in the fir5anclal statements or non-cornpllance w¢th re8ulattron. Thls rlsk increases tho More that compliance with a law Dr rÉgulatlOn 15 removed from the events and trènsa¢tlons reflected in the financial statements, as WÈ wlll be le55 Itkely lo bemm 3warÈ of In5t3nce5 of Don-r.OTfSpliance. The risk 15 also greatÈr rÈg6rdlDg 1rregu12rities occurrlng duo to fraud rather than error. as fraud Involve5 intentlonal cuncealtnent, lorgeryj collusson. omlsslon or mSstepresentaEion. A further des£rlptlDn of our rÈspon5ibilit4es lor the audlt of the financial slatements Is located on the Flnant131 Reportlng Coundl's website at.. www.frc.org.uklauditorsrespon5ibilities. Thls des¢vlptSon forms part of our Auditor5. report. Use of our report Th15 report 15 madp. solely to the charitable ttsn)pany'5 members, as a body, In accoidancp with Chapter 3 of Part 16 of the Companles Act 2006. Our 8udil work has been undertaken sts th3t we might state to the charltable company's mtsmbÈrs those rnatters we are requlred to state to them In 3n Auditors, report and for Tho other purpose. To the fullest extent permltted by law, we do not accept or assume respoDslbility to anyone otherthan the charitable company and Its mernbe¥s, as a bolty. for our audlt work, lor thi5 report. or for the oplnions we have formed. fj3IF24DE92A¥71 23-Jul-2024 JANICE MAThHEWS FCA1SenknrStatutoryAudltorl For bnd on behalf of MENZIES LLP Chartered Accountants and Statutory Aurfltor Magna House, 18-32 London Road Stalnes-Upon-Thames TW18 4BP Page 21 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited CDnsolldtÈdSt•t•mehlpf FITrir￿0IArt￿llp5 Year ErtdEd3151 DeieTnbEI2023 2011 kÈstrlrtÈd Funds Unréstrltt F￿d$ WptE unrestr1￿4& Rostrkthd P￿dS Funds Total Total In￿me D0nètlDns/Grantsandle￿È1 IrKome[roMcfvorllobltsotlilHlles.. 0￿ratIOn olMusÈuMèndÈxhib I￿.552 975,ri)3 Z,(K17,9Z9 L949.969 1,949, 1,719m5 1.719ffi9 Commerd3ltradSngoyeiatlons 1006.487 2.IY)6A87 54.373 1054,373 Inv¢5tmEllt 2Q497 10097 4166 4,166 Totalkn¢omkniiès(wrc¢S 483%857 5.125AO SWI LOJ2.9t6 5.585.$27 Cgs15olr<V5￿gIV￿d5'. Fundrals[ngexp￿nSe9 CommÈrtlaIlradnQo￿ErIha￿5 I2(￿7 IWlffi39 226,947 I￿1,639 232,936 IW9,903 I,639,￿3 3,4SO,SIS 2ÉS.73$ 3.736.251 3￿811752 3a64979 Totale￿EndI1￿r 5.764.817 4.953.591 28L227 5.235J18 opelètinsldEft(h}15ur￿usft¥lh￿Ylar beloiet&xXEon 16412441 3￿1£ 1619ft29 14QD.99D 750.659 349.705 NEt{out¥vlr¥lllncoMIM<vosourtOJ Fotallund5 bioulht lorward evaluatltsh r¢SW¥06rD￿hI lorw4rd an tlrrd fDrwAi 9.986m6 130554 la21￿50 9,852,ts3 14,308 4W6,941 1.650 1.É5QlX)) L650W 1,650JKAI Totalfund5c3rrlpdfDryMd 9,362,e82 9.986M96 880S54 I1866,￿) DepreckntTunlncludod Inoutgok*￿s0Urtts 01 total fund5, £11,431,027 IlncludinE £1,650,000 revaluation reservel comprises iangible 455ets 15 not avallablÈ to be spent. The 5tatemerÈt of finan¢lal activities includes all gains and losses tecoeftisÈd In the year. All incomin8 resources and resources expendÈd derivÈ from tonttrbuing activities. The note5 on page5 24 to 37 form part of thesè consolidated linancial statements. Page 22 0138

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited CtsThsDlldatBdStstErnent of FIna￿la1 Posltlon Year Ended 31st December2023 Group De(-23 ChaFIty Dec-2J Note De¢-22 D2c-22 FIKed assets L406,684 10,QZ4J43 I,4￿,614 9,943,040 1.406.684 9.979.725 50.100 11,43&509 I,4[￿.￿84 9,g(6,524 50,1(X) 11,363.308 li Investmerbis Total Flxed Assets 11,431,027 11,349,714 Current assets Stodrs-goods for resale Debtors Cash at bank and In hènd TotalCurrentAssetS Is 16 80,257 316A18 I.229￿01 I,626￿6£ 111.985 756￿83 1.628J)iK> 2.496,568 322,446 1,059,263 1.381.709 I￿3￿5(￿> I,314￿15 ?,352￿29 LI3￿¥t1e5 CrEditors.' fallingdue withln one year 17 192A581 1818,8091 1638,8B41 1636,8911 Plet wwreTrt assets 702,028 1,677,759 742￿25 1,715.738 Total as5et5 less curreni IlèbllltEes 12,133,055 13,027,483 12,179,334 13.079,046 Credftois.. falllngdue aftermo[e than oneyear 19D5.8331 11,160A331 1905,8331 IL160.8331 p￿￿S[￿S1Ors1obl[Itles and charge5 Nèt A55&ts IL227,222 IIA66.$50 11,273,5DI 11,918,213 Thefund5 of the tharlty.. 19 215,140 9.362J>82 1.65D,O 230,554 9ts86￿96 1,650,( 215,140 9,408.361 1.650,DOO 230,554 lo￿3?,659 1,650,( Unrestikted lund$ Aevaluation reseFve zo 11.227,222 11866,650 11.273,501 11,918.113 Of totsl funds, Ell,431,027 Ilndudlng £1,65D,000 rev81uadon reserve) cornpri5e5 tsngible assets and Is not awailable to be spent. The tinancial statements have been prepared in atcordance with the provlslons appllcable to enutfes sublett to thÈ small tomp4nles regime. ThÈ notÈs orb pages 24tC 37 form parl ol these cos)golldated financlal Statements. These financial statemÈnts were app*oved by the Trustee5 and signed on thelr behalf by.. SlrG akl AchÈr Chalrman Page 23 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Nuseum Trust Limited 51atemethi of C8$hflow5 and Cornsoltdated C•shlknw5 Year Ended 31st DecembÈr 2023 The ￿m￿P Dec-23 Oec-22 The Charlty tsecll23 De¢-22 Mote Cash IIow5 from opewatlmgactfvitles.. Net¢ushpiovkledbyoperutin9 uctivlties 22 293,766 Z67.554 361343 321,687 Cash Ilows trom Investlhgactlvlttes.. lrnterest Income Income from sale of flxed agsÈts Puriha5e of tanglble fixpd assets 20,497 4.166 16,095 3,274 1364,1321 1*3,73SI ia30,8741 1953,7011 Net ¢•sh In sh¥estlw actI￿tIeS 989,570 1943.6351 ￿ 1314.7791 1960,427 C85hflow5 frornflnaThdngartbJhles'. Interest on CBIL5 I￿tereSt on Brookland5 bond5 Repaymeatof boriowin8 I24￿30) 124,1(x)I 13(M),(KK)I 131,7221 124,4001 1263.5401 124,0301 124,3001 124,4001 1255.0001 1263,5401 Cash used In finan¢lnKartlvkles 345.330 319.662 1303.1301 1319.6621 Decre35e in cash & cash equlvaleTrl5 Ill the year 1398,1991 11.041.678) 1254.7661 1958,4021 Cash & cash equlvaknts ai the beglnnlng of theyear 1,628,( 2.669.678 L314.029 2.272A31 Total cash and LAsb 4qulvalents •tthe end of thèyÈar 23 1.229.8DI 1,628,000 1,059,263 I.314￿19 The notes on pages 24to 37 form part of these consolldèted financlal 5tatetnEnt5. P&ge 24 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands MLtseum Trust Limited Notes to Atcounts Year Ended 315t December 2023 General Itrfotmatlo Brooklands Museum Trust limited is a private company Ilmlted byguarantpe Incorporated in England and Wales. The addre55 of its regi51ered office Is disclosed on page 12. The presenlatson81 ttrrrÈn¢y is Éhe sarne a5 the funcllonal currency which 15 pounds ste¥llng. The accounts are rounded to the nearest £. 2. Llablllty of Members Llmited by Guarantee Every merYFber of the company vndertakes to tontrlbute to the a55ets of the company. In the event of the same being wound up, such amount5 a5 may be requlred not exceedine the sum of £5. 3. Museurn Collectlon Under the terms of a Trust deed dated 26 July 1989, the Brooklands Museum Collection Trust wès foirned for the purpose of holdingsome of the exhibtts of Brooklands Museum. On 31 Malch 1990ownershipof all Museum exhlblts at that datÈ was tiansfeired from this company to the Biookl3nd5 musp.urn Collection Trust. The Brooklands Mu5eurn Collectlon TrusL by the tÈrms trl the said deed. loans the exhlb5ts to th15 company fDr display purpose5. The Collectltsns Tru511s a separately reglstered Charity Icharlty numbe¥'. 296661-11 from 14 Marih 2006 and 15 cla55lfled as a subsidiary Df the Mtjseutn. It conducted no trade during the period and refftaSned entirety dormant. The assets af the Collection Trust have never been valued and are not consolidated Into these accounts. 4. Accountlng Pollc5es 8asls of Preparatlon The finanoal statements are prepared In accordance with Accountlng and Reporting by Charitles- Ststement ol Recommended PraLtice applicable to charities preparlng thelr accounts in accordance with the Financi81 Reportine Standard applicable in the UK and ihÈ Republic of Ireland IFRS1021 leflective l January 20191 and the Cornpanies Act 20(16. Assets aÈ)d liabllltles arÈ Inltlally recognised at hlstorlcal cosl or tran5actloD value unless Dtherwise stated In the relpvant ar.counting policy notelsl. The statement ol financial actlvities ISOFAI and the balat)ce sheet consolidate the financlal Statements DI thp charlty and its subsidiary undertaklng. The results of the subsidiary are consolldated on a Ilne by l¢ne basls. The charlty con51ders itselF to be a Publlc Benefit Entity as deflnÈd by FRSIO2. Accountln8 e5tirnates and assumptioTrs are made concernln8 the future and, by their nature, will rarely tqual the related actual outcome. The key assumpt4ons and othpr Soufces ol estimation uncertalnty that have a Significant risk of causlng a material adjustment to the carrying 3mounts of assets and liabilitlE5 Wlthin the next financial year are dlscussed below. Income 15 recognised in the St8temÈntof Financl)l Activities once the Museum has entitletnetbt to the resource5. However. the entltlement to these resources and a5sumptlorÈs regardlnÉ when Intome is recognlsed Is dtswn to InteiprEtatlon. Liabllitie5 are recognlsed where there is a legal and consliuctlve obligatlon commlttlnk the ¢harity to the expenditure. However, the level Df legal obligatlon to whlch these iestsurce5 a￿ incurred and assumptions regarding the obligations are recorded is down to Interpretation. olng Cottctrn The Trustees have pre￿red dÈtalled projectiOn5 for the neKt 18 months and outline protrectlon5 UP to 2025. based on experted Income frorn regula¥ actlvlties, grants and donatlons from funders 8nd Dther donations, against exppcted general and project expÈndlture. On the basis of those prolectlons they tonsider the ¢harityto be a going concèrn for at least 12 rnonths followin8 approval of the ac¢ounts and for the foreseeable future. No material ut)certalDtles that may cast Sl8n¢ficant do￿bt about the ability of the Nluseum to continue as J golng oncern have been identified by management or ihe T¥ustees. The flnanclal statemÈnts have been prepzred on the going concern basls. Pag8 25 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Nuseum Trusi Llmited fjroup FÉnancialStatements The ftnÈntial statements COn501idate the results of the charity and its wholly owned subsidlary Brooklands Ltd on a line-by-line basis. A separate Statetnent of FinancÈal Activities and income and expendSture actount fw the charity has not been presented ljecause the Trust has taken advantage of the eKemption 8ffordÉd by sectlon 408 01 the Companies Act 21X>6. Fund At¢ounting Accumulated 5urplus in the General Fund are Included within Unrestricted Funds and are available for use at thÈ dis¢retion of the Trustees in furtherance of the Trust's general charftable objectives. Restricted Funds a 5ubjecl to speclfic conditions imposed by the donors. Income All income is recoBalsÈd In the StatpnTrent of Flnancial Activiti@s when the wnditions for receipt have beeA met, the¥e is reasonable assur3nce of receipt ènd the amount can be measured with sufficlÈnt rÈllablllty. For legaties, entitlement is taken as the earller ol.. the date on whlch the charity is aware that probate has been granted,. the ostato h8s been Dali5ed and nolificatfon has been made by the executorlsl tothe Trvst that dlstributior¢ wlll be m3de,' or when a distrlbution is received from thÈÈstate. Receipt of a lÈg)¢V* in whole or in part. Is only ¢on5ideTed probable when ihe amount can be measured rell8bly and the clia¥iiy has bÈÈ# notified of the executorfs intention to make a distribution, Where legacies have been notlfled ro the ch3rity, or the charlty Is aware of the granting of probate, and the crlteria lor Incomè recognltion have not been met, then the legacy 15 a treated as a contlngent asset and disclosed if materlal. Donatlons Donation5 and all other re￿1ptsf￿o￿ fund-raisingare reported eross and related fund-raising costs are reported in vther expenditure. Donation5 are included In full in the income and expenditure account on a receipts basis. Income tax recoverable In relatlon to don4tlon5 recelved undergiftald Is ￿¢08n[Sed at thetime of the don8tlon. Nn amounts are includers In the flnancial 5tatemeThts for servlce5 donated by volunteers. Government Grants Government grants are incomlng resourtes whlch are retrived from government, Bovernrnent agencles and slmilar bodies whether local or n4tional. Such 8r&nts are accounted for when they are receivable. Amount5 specllted for future peiiads are carried forward ès deferred incorne. Income from Charfjtsble Actlvltles and Tradln8 Income fron) ticket sales is recognlsed at the point of the vlsit and is shown net of Value Added Tax. Income eived in respect of furure pÈrlods is Carried lorward as deferred Income. Income frDni thE sale of goods is reco8nised at the point ol sale is shown net of Valuè Added Tax. Income from £aterlne Is ¥e¢ogni5ed at the polnt of priwlslon of the catering and is shown net ol Value Added Tax. IncDme received in respect of f¢Jture perlod5 is carried forwa¥d as deferred incorne. EKpendlture Expenditure is recognised on an accruals basis as 2 Ilability És Incurred. Expend¢ture Includes any VAT which Annot be fully recoverecj and is repOr￿d as pari of the expendlture to whlch it relate5. Costs of generating funds comprise thÈcostsassociated with attraC￿nE¥01unt4ry incomeandthe costs Dttradin8 forfund-rai5ing purposes. Page 26 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Biooklands Museum Trust Limitèd Chatltable expenditure comprlses those costs In¢urred by the Museum in the delivery ol thelr activlties and sÈrvicÈs for bÈneficlaries. It includes both COSIS that can be alloc3ted dlrectly to those activities and those £osts of an and1￿¢t Dzture necessarytosupport ihem. Costs in relation to compliance with constitutiDnal and statutory requirements are shown undergovern3nce Costs. Governance c05Es include those costs associated with Mee￿n£ the conskntutional and statutory requirements of the Museum and include the audit fees and costs Support costs are shared across 311 activities undertaken by the MusÈum and include governznce costs. administration. Human RÈsour¢es, IT and general r￿nnIne costs. The ba515 on which these cost5 h3ve been allo¢ated is set out in Note 9. Termiaadon benefit$ 8rlse where an em￿oyee is made redund4nt or accepts voluntary redunda￿CY and are charged lo the Statement of Flnancial Activitie5 immediately. The liablllty Is reco8nlsed as the best estim3te of the cost at the ¥eporring date. Hire Purchase Agreements AsseÉ5 linanced underhlre purchase contract5are£apita115ed In the balance sheet and are deprÈtiated overtheir estimated useful Economlc lives. Flnance charges 2nd Interest In connection with hire purchase contracts are charged to the profit and loss account. FIMed Assets Individual fixed assets ctssting more than £l.ODO are caplt?Ilsed at C05t. Buildings and tnajor muspum works are depreciated Over 20 years. plant & equlpment 15 dep¥eciated over 5 years. The land elÈmÈnt ofthe 51te is carrled ata valuation of£l.650.000 whl¢h Was￿1[U1￿ted when the site wa5 glfted to the museum by Japan Tobacco International, No depreclation Is chargod on 5aThd. The BAF project was comploted in 2017 and the (ndvidual elements of the spend are being deprp.clated over thÈlr useful economic Ilves. The malDrSty of ihe projpct Is being depreciated over 50 years, some eletnents between 10-25 yea¥5. HerltageAssetS The museum's collectlon Of mottsT cars, motorcycles and aircraft, Èxcludlng the assets held in the Brooklands Museum Collpctlon Trust, is reported in the BalancÈ Sheet at cosl. Thls is considered to be an approprlatÈ method of recognition on the basls that the V8lue. of many of these items does not fluctuate dTamaticallv. C05t include5 the purchase prlce plus any associated costs in bringit)8 the exhlblt to its 51te the Museum and to its current condltlon. Depreciation is not provided on any Museum exhibts as the residual value of the exhibit5 equate5 to at least the net book valu@ stated in the financial 5talemenLs. Most dOna￿d 3ssets are nol ascribed a value as the cost ol obtalnlnB svch a value would be prohibitive. Subject to the approval of theTfUStees. the Museum m4y d15PQ5e of items frcm the collettion. although thls will only happen in eKceptional clrcumstancÈs, for Èxample when the Item cannot be d15played or the dSsposal proceeds can be used to purchase a bettei example. Due protÈss and asses5meat would lje lollowed that satlsfies the Mu5eum'5 disposal prLFcedures. The Museum's exhlblts IrKlude a collection of items loaned to theffl by thlrd partles. These assets are not Included on the Balance Sheet since they are not owned by the Museum. In addltlon. the Museum hold5 a collection of motorlng and aviation ephemera which is not recognlsed In the Balance Sheet as COSt InfoTmation Is not readlly avallabl@ and the Trustees belleve the benellt5 of obtaining a valuation for these Items would not justify the c05t. The Mu5evm's management ptsllcy respect of It5 heritage assets Is summar15ed In Note 12. The Museum makes Bwallable on its webslte a lull listing of Its collÈctlDn of rnotor cars and planes whlch also Include5 informatlon on the h15tDry and provenance of each exhlLJlt. Thi5 listing clearly dlstln8ulshES betwepn a55ets whlch are owned by the Museum at)d those that are on short or long term loan to the entity. Page 27 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands MuséLJm Trust Limited Investmenis Investments are stated at cost less provlslon for any Imp8lrrnÈnt In val￿. Stocks stocks, being finlshed goods and soods for r￿le, are valued at thE IDwer of c05t and net reall￿ble value. Debtor$ Trade and other debtors arÈ rÈtognlsÈd at the settlement amount due èfter any trade dlscount offered. PrÈp8yments are v4lued at the amoLJnt prepald after taklng atcount of any tr3dÈ dlsc¢vnts d￿t. Credltors and Provlslons Creditors and prO￿510n$ arÈ rÈco8nispd where the Eharily has a present obligation resuldnE from a past Èvent that will probably result In the transfer of lund5 to a thlrd party and the amount due to sp.ttle the obligatton can be measured or estimated rellably. Creditors and provlslons are normally recognised at thelr settlement amount after allowlne for any trade d15counts due. Flnanclal Instruments The group only has flnanclal assets and liabilitl@s of a klnd that quallfy as baslc financial instruments. Baslc financial instr￿MentS are Inltlalty mpa5urpd attransaction value and Subsequently meaS￿red atthelr settlemÈnt value. Deferred Ta¥atlon Deferred ta¥ Is re¢ognlsed in respectof all timlng dlfferentÈs that have orlginated but Trot Tever5ed &t the balaace sheÈt date where tran5BctitTrn5 or events have occuried at that date that wlll re$ulr In an obllgation to pay more, or a right to pay less or to receive more tax. 5. Income from Donatlon5 2023 2022 Donabon5 Corporate donatlons Ltgoty Donatlon FundralslnE Donalitrns Govevnment 8raDts'. KickstartGr4llt- 5urrey Chambers Of Commerce DofE- Apprtntlte rebale Arts Countll- Culture Recovery Fund 31,957 71,931 85,075 1,030.424 20,QOO 1.78D,142 3.256 3,000 129,600 2,007,929 Of the £1,148,456 received in 202312022.. E2.007,9291 £289,552 was held In ¥estrl£ted funds12021.. £1.032.9261 6. In¢ome frtsm Charltable Artlvltles u￿restE1Cted funds 2Q23 Llnre5trltted fvnd$ 2022 Gate revenue Slte blre Concorde other incomlng resource 1,714,419 53,189 134,485 47.876 1,949,969 L512,488 52.792 114.892 38.887 ￿719.(￿9 Page 28 ot 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Biooklands Museum Trust Limited 7. Income from TradI￿ActIvItIeS The wholly owned tradlng 5ub5idiary Brooklands Ltd is incorporated In the United KlnEdorn (company number 23212261. Its re8*Stered office Is the same a5 Brooklands Museum Trust LlmltÈd. 11 pays all ol Its profits to the harlty under the glft ald scheme. Brooklands Ltd operates the Museum Shop, BroDkland5 Concorde Simulatcr 2nd all ¢atering activities onsite. A summary of the triding results 15 shi)wn below. The registered oflit@ of Brgoklands Lrmited is at BrDokland5 MusEum, Brooklands Road, Weybridge, Surrey Kr13 ONQ Oet-23 DEC-22 Turnover Costof sale5 Gross profSt 2,006.487 9GI,975 1.042,$12 1,854.373 910 4991 943,874 min15trative expenses 11,04k,6641 1933,4031 Operallngprofit 848 10,471 Interest re¢eivableand slmllar Income 4,402 Profrt (Lossl ordlttary artlvltles befoye taxatlo 5,Z50 Openlng retalned oarrlngs 151,5281 162.8911 Ret•lned proflt tarrled forwaTd 4fj.278 At the year end the agg￿￿te assets of Brookland5 Llmited were E319,83612022.. £475.2431. aggregate IlablllUe5 £366,D1312022.. f5?.G,6711 and shareholdÈr fund$1£46,1781,12022:1£51,4281. Projechons for 2024 indicate a retalned surplus In 2024. 8. Expendlture for the Year TheGIoup The C￿r￿l¥ )et-22 Dei-Z2 The Èxpandituie tortheyearlndudek. AudltOF rernuneration -4udit lees aiion ano otherconsult8nty -other9e￿tr$ DÈpI￿latkn￿s". In Year 27,2 2L175 510 2,76E 19,050 1&975 9,166 278￿3￿ 314.499 9,166 2S7.673 285,889 766 317,961 19,7Ql P8gÈ 29 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited Allocation of Expenses (excludes restrlcted eKpendlturel Cost rfch3rltable costd<h¥r4tablp tte5- Mèiketlthg& tthseum Operatl¢ns' cost ol ratlnlfu￿S- Mu5eUrn lund ialsln8¢ostS Wratoiw and ie5tor3tlon costs Group lJnre5trfctyd 2023 staltCosr5 rect Co&tS ,932 Bl.912 3&¥,281 503,972 J,579,961 1,169h70 109A79 175.193 ¥￿6.554 10979 196,634 107,297 19,4S4 440.251 21,440 styrè &£ttrnms 107,257 19,454 307,664 21,8 110,778 s￿￿Ort¢0￿13 19.354 2.845 9&310 14,449 8,gg9 19.581 12.6S9 11.223 7.374 273m3 40.13Ci 24,994 54.382 35,158 E6.n6 76,027 Flnan 57h24 Ft & Comms SS l492 6,147 1389 71,818 SO,305 124ty6 IW790 GoverllanEe TOt•l Unrèstrlc 22 947 LZ99,913 a.951231 5A79 101 2D22 77.553 8aiYJ 393,930 J183,870 1,167.815 1.13Q823 46 169,931 6¥799 1,69¢851 h￿rketI#B 12,778 182,709 9661Z 1%564 402,008 96.612 IT& Comm5 15,564 28D,939 15,914 101,155 port ctssts Staff¢osts Flnance 11.858 111.030 18,327 103 15.665 16.35D 23,511 I8￿59 308,3S7 50,899 21505 43.￿6 44&2S5 718a4 31,204 61255 ,977 114307 71,770 Insuratt IT& Comw6 Admkni#rJtlon 1,596 5,084 3,l19 5,613 3.555 79,183 50.156 G￿Ver￿n(e Totèl ilnrestiitted 232,936 I291￿11 3029,Q43 4953,SYI lncludin£ the costs of the tradlng sub51dlary Brooklands Ltd (Note 71 Page300138

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limitèd io. lformation Regardlng Employees Th Grtsup•d Charfly Oe¢-23 Gioup D￿23 No. De£-22 FTE ra8È N¢. AVeraEenu￿e1 of p¥sons ÈwlDyÈd.. Inlslr?Ilon & Fu￿raISI￿8 s11￿&S¢¢l￿1ty 18 IB 16 L6 69 75 48 57 Learfjlng& Wsltor Sorvl¢e5 IOG 109 Bl 88 fyoup DetrZ3 D•¢d12 Emplw¢osts durlM8thEyear'. Waees antlsaloii Social security(￿Sts Conlrlbutlon ￿ dofined ¢¢htrIbu￿On peThslon schÈm05 feduDdaDcy costs 2.162.764 189,715 66,724 2.384,263 209h38 71,032 2.419 2D4 2 66Jl 733 Ihe6EoupAndthe Charlty Defr12 Dets13 Aver4e t Charftv De￿23 No. Dpc-22 FTE AverBgenuEnbeF olpÈT&ons mloyed.. n¥n15¢rètlon & Fttndrai5ing Slte&5e¢urlty Collecbon5 & Heilta8e 19 16 27 34 20 26 LearffllDg & Vlsltor Servlies 65 68 53 57 D•Tr23 Detr22 Employ0ec￿ls durlnBlheye3r-. Wages antlsalarles 1,529,134 142.46$ 50,391 I￿33,32$ 166.299 56,242 Contsibutionto definedcontribud¢Th penslonsthet￿S RÈJundan¢y cosls 1721980 66 Durln8theye?rtwo employeeswefe p￿￿e￿oIuM0ThEslTr￿￿￿￿ol£Eo￿9OaSf¢1￿wS.' 2021 2021 No. In th¢ rangeof E60,DDO IDE?0,(￿0 inthe rungeolE70.000 tD£80.WO Key management personnel ol the charlty during 2023 com6irlsed of the ChlÈf ExÈcuttvÈ Offi¢er, Executive D1￿ctOr, Finance Director and Marketing DirÈ£torwhose employee Costs total £289.80512022= E274.0981. During the year, no Tru5t2e5 recefved any re￿umeratiOn or other benÈfits12022.. £NILI. Durlng the year Ènded 31st Dpcember 2023, noTrustee expenses have been In¢urred12022.. £NILI. Page 31 Df 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited ii. Tanglble Flxed Assets HÈilt3go Ethlbtt5 In Tot Grwp C05t'. 1.40fjM4 675.fjOB 2￿17￿? 15.448.941 On5 sposals t31 D￿em￿2023 (tuniul&leddepiorWlon'. 76 15 80) 997 67$408 2 294569 S75.408 2A96,37P 927fv3 95.951 14.2861 4.￿9,21? th4tyÈfortheYe31 Ch3fvFDll ￿5P0saI5 At31 DL￿7brT 2Q23 pt bpokvthE.' At31 D(￿th￿ber 2023 GF5008 I￿?8￿35 IA06ffj84 lE13J￿27 At31 OÈternbEr2022 I.406￿8 75 HerftZEe Ex1￿111 Mu5Filln Atl lan￿01Y2[23 ill(￿5 675.40& 1.665.P17 97.584 J3QB74 At31 D£￿err￿et2￿I3 uMuWg&dqgrtd•tlon'. At l JahUary2023 A96.J?I 182m8 59?SGB P5h15 3.764.J53 MJI OocombÈr2*21 Etbookvakn.. Alll Doc¢mbpr2Q23 2th7E 35 26 L230.È14 Alal DE[En￿[lO22 IA06ts84 8833375 Slte Freehold V81uation The Museum holds title Df the Museum site freehold having been the beneflclary Df 8 eÈnÈrous transfer liom Japan Tobacco Inc In 2010. The propertywasvalued on an existing use basls by reference to ltsearnlngs potential by Matthews and Goodman LLP. The property 15 owned SLsbject to the Covenant thÈt in thÈ ÈvÈnt the site, or any part of it. is sold for redevelopment for commercial gain, all protreds revertto the donor, Jap4n Tob3cco Internztional. The valuation of £1,650.000, Included the slte and bulldings Costs brought forward. has been Calculated Ehe basis that the title is vnencumbered and free from any onerous or restrictive covenant as to its use, Howev&. it has been assumed that the slte would conunue to be used for heritage purposes. The carrying value Df ftxed assets which are pledged as securlty ltsi liabllities is £11,431.02712022., £11,349.7241. Pagè 32 of38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited 12. Herltage Assets Cosi Vknta8eCars Motoicydeslwes At I 2023 6,583 416 33,233 DJSPOSaL% DèprèdAIits Al 31 De¢2023 Fl¥trVe4rSurnrn&ryol h•¥iiogt￿ettr￿n5acI1uryS 416,86B 33.233 zfjzy 2022 Addltons Don4tiTrns 50Q D¢5pos&k 91.891 74,99D sales proceods Other than disclosed above, the malorlty of tiansacttOa5 in ephemera during the pÈrlod We￿ a¢qvisiknon5 by donation. In the Tr￿steeS. vlew, the value ol these donations 15 not mater131 at)d obtalnln8 a current valu3tion woyld involve di5pfDportionate cost. Herltage assets management policy The Museum dlsplays a tollection of oveT 100 vehlcles. over 30 motortyclÈs, nearly 40 zircraft znd over 100 bicycles which reflect the history of BrOokla￿d$. All these items are on dlsplay Eo the public. The Museum also holds a large collection of motorlng and aviation ephemera aSSDciated wlth the hlstory of the site. Thls collection comprises some 50,000 itEtn5 Includlng manuz15. trophles. badges. models, lurrliture workshop Èqulpment prints. paintings and drawlnss plus a library and eKtenslve photo and technital ar¢hlve. 13. Investments Companv 100 ordtnary5hares In subsldlary companyat COSI 1st january 2023 and 31st DÈtember 2023. Debentvre loan seturpd1Tr 5ubsldlary company at 1st Fanuayy 2023 ènd 31st Dttember 2023. The Investment amouni of £50,000 (December 2022 - £5D,0001 15 in respect of a debenture loan made to Brooklands Llmlted. the trading stJb5idiary of BrcM)klands Museum Tlvst Limited. This debenturÈ loan wa5 for a period of 5 years wlth the balance repayable in full at the end of thÈ tprtn,. however, In pracknce it Is renewed on rolling basis upon the date of expiry and ¢s therefore dL*e In more than l year. It is therefore consldered to bÈ a fixed asset investment. It is secured on the asset5 Of the subsSdSary tompa¢w and interest is charged at 1% above base rale annually. 5ubsidlary Country of Incorporatton Percentage of Otdlnary Shares Held Actlvlty Catering. conferences, shtrp and merchandlse relating to the BT(K>klaDd5 Museum rooklands Limited EnglaDd and Wales loo% The ￿5vIt5 of this sub51diary are shown in Note 7 to the accounts. Page 33 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brook18nds mus2￿m Trust Limitèd 14. Capllal Commitments At 3151 December 2023 there were tapital commitments of £60.000 relating to a lire èlarm upgrade and new playground131sl December 2022- £9Q.0001. 15. Stocks Group slock5 held by the trading subsidiarv. Dec 2023 Dec 2022 Shop Sto¢k general Shop stock book5 Catering Stock- food and beverage5 44,658 56,393 8,293 17.104 27,306 38,488 80,257 111,985 Provision for slow moving stock 80,257 111,985 16. Debtws The Group Dc-Z3 ThÈChirfly Detr23 Oe(.22 D￿21 Tradedebt0I5 Amountowed &Y￿b5[dIary undgrtaklng 30.211 IlQ958 1¥374 30,039 9E,222 206,006 140.827 593,545 52,OEO 593.545 repaymÈht>and IncDtn@ 281617 28lm3 316 828 756,583 a22A¢6 LO38.60D Page 34 of38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Llmlted 17. Credltors: Amounts Falling Due Wlthln One Year TheG¢oup 0èts23 7hoCharlty D&tr23 Dts22 Bankltsafi aTrd overdrafts Tiadecredilur5 VAT. tèxatlots and SocLtyl seiurlt¥ 250.(￿0 250.000 349.091 37,278 250.￿) 2SO,OCO 202.273 37,278 226,487 102,981 Ac(ruals aTrd delerred Inwme Brooklands Bond otheruditorB 175,719 127.9DI 45.1 9.53 96,743 92,8DI 45,IY)D 9.535 2E.IUS 6.6D3 924,858 81Wg 638,884 Movements In Defer¢ed TheGroup Thecharlty Dec.23 D4tr22 De￿22 Dolorr8d1nrompat IJan￿Jry202j Slgnature EventslTScket Sales Relcaxd OurfnA Year Tkket 58le5 dEfErred to lo11D￿ng¥￿ar S￿31￿re Event 5alesDeferied to FotlowlnEYepr DEIEired In¢OJnè•t3A t*¢4Thb•r20Z3 22,559 122.5591 8,705 SS.dg1 64,196 119. 8,705 3,114 22,559 &705 18. Credltors.. Amount5 Fallln8 Due After More Than One Year YheGro￿￿ Der-lj Thp£hBrfty DK43 Oec-22 D￿42 bahkl¢èn-CBILS Bioowands Bond 395W33 SI0￿ 645￿53 5150 395,833 510.QQO £45,833 515.D J5 J 16lJ 835 The 8rooklands Bond of £510,000 relates to bonds issued In March 2013. Interest is payable annually at 3.5%tD 4.5% dependingon the level ofbond5 Issued. The Brooklands Bond wasrenewed in 2023, with some bonds belng redeemed and others belng Inciea5ed by existing bofid holders. There is an additional tharge over the freehold property which aT05e on securing fundin8 from NLHF. The CBILS loan of £645.833 Ilncludin8 £250.(X)OpayablÈ In onÈyÈ2rl12022,. E895,833 Includlng £250,(IODpayable In one yearl is secured on all assets of the Company. Page 35 of 38

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust L6mited 19. Movement In Restrlcted Funds Balan￿41)51 Trart51Ètsth •Slil(ted nd5 ¢¥ab Clybhou5?hr￿5sPrO1tCt 16L￿s￿l 1g0.Q151 )6.121 15 56.WD HEiltageSkFll&Ar3￿￿v1WQ￿ks￿￿ ￿17 Bro{&land5Slorf￿ Vn(oYwed' èsSÈnbèrÉRÈsto￿I1￿ & Exhlbll OlherFund£ Rthluatknn 4539 17.4$1 135.cw 8).D9B 117rt541 115,￿) s4￿1 .65G I,E4 Brook18nds Innovèyon Academy is part of the th3tion31 Science Summer School programme, co-founded by Professor Brian COK CBE and Lord Andrew Mawson OBE and WÈll North Enterprises. ITh SurreyTr It is represented by Brooklands Museum and delivered in partnership with Boume Educa￿0￿ Trust. ** Brookl3nd55tories UncovÈrÈd Isa prolÉctfunded prirnarily by thÈ Nadonal Lottwy Heritage Fund.Thi5 enables work with nÈufodlvergent, LGBTQ+ and young people to uTr£over the diver51ty of hlstoric people at Brooklands 8nd tell theli storie5 $0 diverse communlties feel represented, rekbrated. and inspired by Brooklarbds. herltage. Pagg 36 0138

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limite 20. Analysls of Net Assets Between Funds Grll 202) Net CuTrent A552t5 lo￿7¢rM Flxed 2013 provlslonsl UhrE5tIl(td funds 9,781,027 1,650,( 486,888 1905.8331 9.361￿? 1,865,140 11,431,02? 7ts2,D2È 905.833 Charf 2423 LOnETeFm xed Asse*s Assots 2D23 UnrestrIct￿a lund5 Re5trlcted ￿ndS 9.786.508 I,E50,000 527.685 215,140 190S,8331 9,408,36D I.B65.14ID 11.43S.$08 742.825 11.273 SIX> Grou 2022 tlet curr￿￿1 A55ets ion#YErm FSA8 Asgets T¢lt31 2071 WOylslonsI Unreslr(cEed lund5 9,699,724 1.65D,QiKI 1.441.2¢15 23Q,554 9,986.096 1.880,554 1.677.759 1.160.833 11 E66650 harft 202Z lu￿￿TerM L￿bIlIt￿$ F￿d Currem Assots Ttstsi iz prov1￿0￿5) 9,713,308 1.650.0 L485,184 230.554 (LI￿,￿)3) 10,037,659 LBW.554 Restrkted funfjs 11363 3Q8 1.715738 L160 833 IL9W213 21. Relotsd PartyTransa¢tion5 The results of ihÈ trading 5ubsidlary Brookla[￿S Llmited is shown In Note 7, the amoL¢nts due to and from Brookland5 Limited 8t the year-end Is dls¢losed In Notes 16 and 17 respectively. Man2£èm@nt charges to Yrooklands Limited during the year were £204.00012022.. £204.0(X)I. At 31 De￿mber 2023 BroDklands Limited owed £30,039 to the parent charity12022.. E206.0061. Page 37 013B

Docusign EnvelopÈ ID." 3492BOEC-B9AeA24E-gC6C-11AA4987BD57 Brooklands Museum Trust Limited 22. Reconciliation of Net Income lejwendlturel to Net Cash Flow from Operatln8 A¢llvlt1¢5 TheG¥oup Dec-23 De<-ZZ The Chorlty Dec-23 ec-2Z Net lexpendlturelllnwme for the reporting peilod las per the ststementof fin3nual acthitles.. Adluslments for: Depreciation charEe L05son Disposal Inieresi In¢omeshown In Investin8 alli￿lIes Interest OTr CBIts Inieresi on Brooklands bonds t>Ècrease lincreèsel in stock Detre3se IlncrÈasÈl In debttsrs Increase Idecreasel In creditors 1639,4281 349,709 1644,7131 338,347 178.039 4,790 120,4971 24,030 24,3DD 31.728 439,7S5 151,049 293, 257,673 273,978 14,k661 31,722 24,4( 116,0951 24,030 24,3f 13,2741 31,722 24,400 1451,7501 57,231 716,155 1,993 1395,6891 52,203 Plet (ash used in operatknyaulvltles 293,766 267 554 32 363,343 ￿687 23. Analysis of Cash and Cash EquivalÈni$ ThÈ Group IhèchBrfty Oetr23 De¢4Z Dec-23 Dec-22 sh In hand 1229WI L628,iKM) L059,265 L314,029 TDt31 cash and cash eoulvblen15 12Z9.801 1.059.265 L314.029 24. Analysls of Changes In Net tlebt- GrDUP It5kaFto1Ye￿l ¢￿0w5 (Ith•rnanrfKh Atendolye4w 398.1991 1229.801 Ca5hÈ4ulvaleh itsansfi1llnÈdue￿TrlhIth￿nesWr ioanstsllln8due•fttf rMiethaThorteyi 300mD 125%0001 255.1 115DmO 1995011 73.968 Page 38 of 38