BrooklaThJs Mu8eurn Trust Limited Brooklands Museum Tntst Umited IA Compary Umited by Guaranteel Report and fincIal Ststemeits . Year Ended 31° December 2024 Charfty Numljer. 296661 Company Number. 2109945 Iiiwiiiii 'AESX89RD' OW0712025 CCXIPANIES HOUSE A12 .P888 1 of36
Brolarth Mu8eum TrustLirnfted li 1&19 sixtth*htof FlftaNAal Ptssthjn . 2>35 P8g82 of35
BTookiands MuseurnTrust Limited Slatement from the Chalrnkin It is a pleasu to wrotè rw fust Chairnun's rw¢ h&ing been appointed last July. Brooklands is a vwy special place with so mJryfKets¥Jhich delght us al aswe revel In Jts pas¢ pre5Wt and futw Sometime5 we foryet what a unique pts(e thi5 i Mt Iu5t lil tr45 Count but anylhwe tn the worfd. We aloné ran boast that we were theworfrfs lst purpose twjllt banked rackng tar ciwruil and that more aewjanes wer? produced herethan anyhereeL%eln Eurw.Add in that thls iswtfe t fir5tBritishGrand Prixtook place In 1926 and where the WeNIn0 b)mber and CorKorde fuselay TAwe.C5U(ted. aThl the Spine begln5 to tile. And that 15 before we bew'n to (sIder ow extr4wdiriaryT StratoWere (hambèr. toyther ith Bame5 Walli< bwr¢tsig bon and other in¥enth)rs that he ¥eloped Nor Cad atylt fail to bt imprèssèd by. ouramuii8 d1ofr$4nd èeroplanesthat conithue to astound.t¥to delightsd bythe 8u5 M1m that one 01.rIe5 W t(MMi%t altrdclh)r& FffjiD 26 public nts to talks and hasality. we are a ' place. A5 for the luture. last year ICM) rnechanks TKre trained'.by Ouf partne the Herltage Sknlls Academi, we hosted.ty4ef. 41>) Sdents in 4yJr Bnxjkfands Inn¢Yatlon AL3deiTry and were bTslted by IS,(#)O xthool childr•n. We opened an >Jtdotr pl•mind and weka the erooklaThls Alr Cadets back to their sptritual trMYrte. We realty are MNesttn8 In ourcuknAI fu1. We managed thts a h•thrkI dedK•trd ftwn•eement tèam. 94pLvt•d by 770 s¥fie5S T4olwrteer> and (wer 7,IMXJ Brookland5 members. I great trilKrte In parlbJ¥ w our CEO. Atex Patterson. and thank al ourvolunte¢rs from the botrom of heart. Oufwderful supwtwSa tskifyd us ontythe nÈrtSts8e ofour jour. We benefftfrryn corporatr sponsors. Her0t Lottery Fund and ottrrerdnts, and ourPioneerBroup of elDUS rndNidual$7those numbers are up a thlrd overthe p3St year. Nor do l under-eqlAe the en¢Jrin8 8oodMI1 atwj 9JPPWt of ow nel8hbour5 and the Thlder com1nLty. Itth l am ryaref. Last year mark£d a financial Ch ftw the better. We alrn to bulld on that thls tftar. and nemt year we can loJk.forward to the M25 IA3 interchary finalty Wng c(wnpleted and to Twwrq8oodbyeto rcrAd erd loan. ..A brlght new beckns that we 71 yasp optimism and both hands. Finally. I would like to pay the wzrniest of personal tribjtes to my predecesw. Slr Ged Acher for all the M{able achievements of hh nine yeats of sÈr¥itè: we are thred you tRcome our PIdent. I was delhted to wekome OorninitAnghileri arnl Maftin GwwKe to the 8o¥d of Trustees and thank Randy Sessons and Gram Chi5Thall ttho both reltred the year lor tr*ir ¥alued contribut10r Heartlelt tiianks art also e to all my otherfElbw Trustees and to our CoDyany Se£retary.Jarnes Thome. Thank all Ntry nCh. Mark Seligman D Chairman
J0619S Pap3of35
BrookiarKls Musaum Trust LKnited 2024 marked an ImwJrtrt 51Mft 8rDokl8nds Muslrn fdb)VA • chaUvqi¥ frw tfftars of W-pandernlc recovery. We havt experICed inueasedgrowth in Tffjiior nurnbew5. driven l•ryely tythe strenoh ofoui events progrnmme, malin¢ thi5 our most Set$Sfvl year 2019. The sttff worknl hard throu8hout the year dtli¥er on key 8roth tsryets. suppNted blf MfantsS¥¢UIiteei5. This is refiéaed In the o¥erall n¢Jmbers for 2024 - 10% el0 in footfall and 12% 8fD¥bth in tatsi incomt. whlth dell¥tred • É127.280 surplus before deprrfiaTh)n. Muth of this came from wr pwrnmm4 Tlthlth wa5 well red and saw an Imwessr¥e Increaseof35%comp¥ed to the •1. The results achleved In 2024. wThlea 5alkl tsjwthiion ftYVopeRtlon: hoY¥erthere is 5ttll sknficant work ' . .to do. Gintinued deTht arml of the Museum's wothJtL woyamme delivery and enhancementto sfjte, isnece5Sèryt09JPPOrt mediuffl-remi gnmth in%isltaDon aDdaw¢iated irthmellnes.Thls work will coniiThJe 2025, with a fr5 on witspped 8rtyth marknt% INfudlng Grc+ups, and fvrther developlng ourE¥ents wo8raffl. Hl8hUgls of 2024 iriduded the of the 50th annfvew of Golf. the first passerwxer airuaft to tary lol people at Mach 2, mld a our Rffjql P•tron, HRH PrIn MKhael of Kent. In Ocfrer. the slte hostÈd an eAtraordlnary e¥enL estab1lsh1r dirertcontsctw(th thelntemational Spaceslatst as part of 4)vr STEM engagement programme. One hUlTed Gwl Guide5 aryj Brownies p)ird us. along with HRH. The Outhess of Edlnburth. In her fDle as Patron of Girl to partiapaie In a ¢xKe kn a lifetime opportunltyto speak to an asvonaut. These rnoments thrvuelKVJt the year have proAed an opportunity to cele&#e our en8ineeriTha heritage, as well as positionin¥ the Museum to be forward attracn ard a cataP¥st of Insplrntion- entourng the r•t geneva1 to thiffik ats0 the luturt. tske 1ftiftai and be arnbloous. Thls atthebwy heartof who ory4thtlon and • th•iity. year was atso marw tri 4 in Charrnarn with Selwn recebviry the baton of5er¥lce from Slr Gerèld kher who stood down ifi ju 2024, fotlowln¢ his.fv11 temi In role. I would le to tske the opportuntty to thank both 55rGu"and Mathforthwrsupwtoverihe lasE.yw. IlonB wlth the Tyuths. Thelr athiKe has hdped shaped our direction to ensiire ¥ft are Mawrni5wO OPPUnItSés and be the $( W tan bE. I would also Ilke ID thank the staff fur their hard work and tlreless.deLlcation. l arn IDrtunate to ha*i passionats and dedicated team, all ofwl¥Jm plw thetr p•rt ddi¥erkn8 a successful 2024. Ixlo6lAs Page4of35
BrooklaThls Museum Trusl Limlted In 2024. a re¥lew olth• prevh)ussith•AaslerPkn tAmScondIed. Tlwsprovkjed anopporturAtytorea55ess the plan vAth a fresh pernwtO¥e and eval Its guldN Pri1P..hich dd artd impfid inear. particularty hi8h-volume e¥ents. The Objecti¥ established in the prAv5ou5 plan were deterrrthned to still be rvant and meet the 0fthetygaThtth as It developk Thefi¥ oble¢ti¥es are: 11 Realist (wjr?5IO~ utilisng BrooWd< hisknyand legaLytodell¥eracii¥ilit5 and experrence5 that are inspiraknal. engaging and mats relEv4nt. 21 thateaflnanclaltyrtsllientbusirss-th6ffi)otra•and asS(th thnertIonVVh i10rstdt. the dpm5haUon of Kome styeafft0 mamlmlse poteniial of our lyand. colledlon and slte. ' 31 Con5erye aThl mrtaln 8rookl•nd¥ Iw•¢e assets- in the hlstoric estatear#l collectfjonto ensure Its lory.term pruerVatK. 41 To be accessible for •M - U11$e the rith breadth dlverse htstory •nd people to ¢rn• experiences that refiea target audiwK¢s and needs. swporting kl-terrn thltor alled with our rnag strate Sl lrnprole envwonmentsl swralnabTr - IkYrtsthni In 4wraded ser¥lw kn Wnprove the $61e's en¥irOnTh¢a1 sustain4bllity wpprytthe reduckn In lorff.term runniw $ ' Ttrst obleciives aR embedded in the t)rgaftisatkm's PknnI arrn55 al TiAKk 5tream5. ensuring incrementsl imwo4ments support our long-temi ¢oa15 of finala1 9JstsThblityand fesilierte. Aswe develop our eSS plan for the coming yea, these t)bfv(lh urthlerpin tNs ertsurry rarzets and outwts ¢omplimw n8.terrn site de¥eiopment as rw in#Me(ojrs In the firtur& Fwdr•151 ftAlowrnga successfvl Nattonal LotteryHerit4e FuThl appuuttonand Fundrnisin8fte¥iew published by Maqdalen FIsr in 2023, a rthf Oire£tor of DlOpment 75 awointed in 2024. Thls was the first Step In the delIrInton ourfundrdisirq 51Trtffjy. Immediate prngrw wa5made ffieetfjth rtquirements ofthe twwear Lottery pmje¢ Indudn¢ trndulng for a ne furth6sin8 and membership CAM. xa1[-UP membership prCSe5 to allowfor8rowth¢re•ila fimdtrqStrato$upjrt¢1Pits1 d¢1)Pment pL•AS. and ateam ski115 audit. We strengthened rtlaknshlps wlth (wJrdon(w5. hty[dI our Plonèws dinnw atthe Perthxla Hotel In Octaber. Corporate 5UPP(xters enga1 that the autumn Brnklands Innordtton Academy wa5 fully fvnded. In December. new taptw machine5 were intslltd atrDSS the museum te. At year furylFa15ed trtcome Sbjod at£380.896 lup 13% In 20231 and at £230.236 lup 171% on 2023 1rt2024.our rnembefshlps readd 7,130. I6 new mernbersjoinkng durrythear. Subscrlptlon revenue amounted to £712.426 lup 29% on 20231. An additsnal £39.131 wa5 gener frDrn Meffl>ership Committee athitles in(111n8 tslk5, outreath the anriual dinner. The Mwnljers cnmIttee wovlded fvrther support In wunnini the Members EntArKe on d•y5 and contert Ax BM.t "Paee5of35
Brooklands Mu8wm Trust Limited
i•arnI and
Jr fum41 learn progrdmme a cLE5ul y with 8roh of 3% on 2023 equthg to 14,627 5th001
pup$. The fu5 on STEM. linked to o¥ffl enginEerIleYQV. Is enakn8 fftine peopleto gain an experience
and uretsndi of Ce subjects of the dasyoryn in the ImMw5f environment of trooklands
Museum. We are 8rntefvl to the Walton Charity who conilnue part fvnd this pr¢>gRmme.
Our partnership vith 8wme Educatk>n Trust cOnnueS to grvw in reh. enabllng the MUseuS leafnine
team to engage wlth students in different w. the heart ol this parinethp is tht Bmokland5 Innovation .
Lademy progwarnrne. In 2024. we hosted the twent frjf the thwd consecub¥e year. attTraing stron8 business
5UPPOrtfrom acr0555urrey and en8a8ed ¢rM4LXlShets0n the day. Our Patron. HAH Prince Mithael of
Keot, attended the event and obseryed fitst-hahd thstlents ukinap•rt in STEM themed YJrkshops and tslks.
Our conllnued ¢ollabofatlon with the 36) De8ree Society ha5 thi5 pnyamrne to Increa In vlsiblllty.
. firmty mJklnK i key fature In the sthools(al•idar.
Thn)u41t 2024. the Museum ¢onifjNed to #iat¥lt xoulre artefacts thai represert the true spfjrft of
Innovation and erKtea¥wr. A t
Brookland$ Mu¥eumTrust Limited 011 bullt a55ets. Whllt thtrt b a signrftcant ontroff capitsl in%strnent required across the estats. are 8alnlne a better wderstandin8 of the 5iiuation. puttTrThg in ace a repair and Pre¥ts woy3mme to manage thi5. Lonqer.term ¢2pital imstment wll need to be hdraised for and (LPOted into future de¥eboprr proiert& However. there ts afw3ys the risk of somethine unexpEcted ocoJrrinqth•t requires malorexpendhure. . Therefore, the Thmedlate drive to buNd a sound financial poslthft is to engjre availability ot funds to deal with unplani)ed rnainlenance. Irt 2024. a 5ubskntial Irwe5tment was made lo • sittrTidt firn alarm syth?. AM 1lIng5 a now Cered ty an addresgble maii llre deted1 mort effecdve and UardI our he"rttsge and people. In 2024. Marknkni effort5 ¥Me refixused to implement the strate•es tyjtlined in the 2023 rtvlow. Taryefi was slreamfined and sthwlifted Irj concentre on two key math.. 11 Enthusiastsand 11 mirket wSthln an hour and a halfdii¥eof 8mOkI %kneum Cre•tfve assets starKhI$d to enAre c(h75thy and taryted. to enable m¢imwn benefft from spend, paniculady acros5 di8fjtal pfathnns. The success of 2024,5 8rrywth in evwts Is Ilnked dlrertly to dear, wdl thrMJght-ouL markaiw camp•i8n. Lessfyu been knrnt the year and will be imptemented for 202S. The long4erni Inlvtment rn awarnrss ompays WMI be ala1 to enable a ste•dy 8rty•rth in nonve¥ont tson. As the strategy tl¥t$. it wlll be irnpL¥tsnt ID 01ne the corrert level of inlthnt to keep th erooklands Muse brnnd and mess¥e Maki u5thè desisnalknn of ctioKe in Surrev. 2024 has been oneof our m05t successful yearsfore4ents. The aftdquallty of the 26 e¥tnts overtheyear has delfvued an impressfvegrowlh of35%on 2023. welcomi0116(l¥Slt. ThiSh hasbeen dri%en the In rnarkew strètw. improved prf4rarnm1 plannlTha and derry ofthe ebents. Evems are a C<ITe Ion St•M for BwDoklands Museum and athtiiional resour is bewy invested inthe team to en9Jre we . continue to deloP and 8row In futu )taY& We successfvlty secured sponsorship fur.Ameriran aftd Mu5tsry Ihy thrw8h partrershys wtth Pure Mlchlgan and vIt DetrolL CoUabOraifj with our sponso. TAE We able to 5h¢yKa5e a rany ofopportunities throu8hout the year throu8h shared link5 of ffl0torl heritage. In Juty, the Lieutenant-Governor for . Michl8an. Garlin SlthrtsL $tIed wSth a deleg) to expbjre Brfy)klands Musewn and to find out rn0 about our STEM programme and the hisw cl 8r00ands. IrNestrnent in the ¥i5itor experience Twas foCd on a new •iatioft themed Play8FDurKI. lorated oppog de. This Is an IMPnt step In upWat& fad11t0 support our dri¥et¢ the Fwnily Market. Thè Shell Pa8oda in the Inner Paddock was relurtmshed and trnèd into a tIned secondary reta41 c4rtlet onslte. This operates On E¥ent dtys and hol#lay5 to maKlm15e ttIal spend on hh vohjme days. Page 7 of35
BrookLands Museum Trust Limited Ow ¥OAteering woyamme contir•Jes to be a cort 51m%th of8rooklands Museums0peR. In 2024, thNe wasa tota1of770attvwrtte¢fs, wthKh IndleS 97 new recruits. Volunteers supporta broad r4n8e of acU¥4ty . fmtsed in48team5. From wl10t Expefiencestewardstoba¢kofhousefvnctlon5th rnrysfrofflestate upkeep to Mafjntairri tr coleaSon a total of 105,127 hIS of supp¢yt w•$ Iged in 2024. This ha5 enabled us to dertake a'huge amourt01a throu8htyJtthe ytarto delrbtr our tharttable objecdves. The strength of OUfVdunteerconUnIty isone that oakJands Museum15 PrOALlar1 Ss a assettOQUf operafjon. Aseroes of recognOft events WWE carrd out thrnughovt the year. incIn8 CEO Coffeé Mtynin8s and Long Serylce Award5. The siatementof finanaala¢15TAbe5fof 2024 shows an wJ)YaropwaWsurphJsof £127,280 befo dewecsalS0n. ' Tht dpreciation was E309.77S. an unresrrfjtt operadng defidt of £181495. This was an imsYo¥ernentof£456.933 compared to 2023. .Wh51e sh re5er¥ts are adequzte. cakn s11 affected ty the iong.term C81LS Loan repayfflent with ftnal payment in AuAust 2026. The VEarond ¢ashtlow a)nue to be irnpxted by this urtil the loan has been clead and annual 5wpluses can be fulty realised. We rmain confident in adMewn8 this aThJ movingthe oryisatlon lrto a firwKS•l pos10 thereafter". The sttcess ofthe 2024 events season td•ed a iffttsl rnle kn the fwdal ImprThYnent ofthe operavon. There E a150 rlICeable in * rnnge of arEa& includine Grft Aid con¥er5vJn rates. on the day sales. The SEE fketsystem inwlemented in 2023 has enabled 8te•terllexbUltyof Selling Gift tickets on évent days arKI having the we ar on salt at onc. Therddir¥5ubgdlary. BrooWand$ linte performed better In 2024. WhIlevlI Incomems £I95.5015% )wer in 2023. It turned a wolh ot £391.954 t>efore <kprecialb)n arxl rna1a8ennt thar8e5. Thts an improment of £162,338 compartd to Z023. cost NtrOl me•sure4 smarter and bttter use of core staff enabled the opemion to dell¥er a strorw corrtfibutiw conyared to last year. Work continues across tetail. c4terin& hosmality and naiure to •iSU we ¢aMalise on ow assets and become m¢xe ¢oinmEraalto Yrat•the ad(lts)n•l surplusesto Iffl the thrall financial posltion of the ryn110n. The Sénior Lead5hip Te4m rontinué b) use the grtr•th assumplK)ns ID the 2023 8rfj#an MrGnth 8usine59 Review feport as a benchrnk to 5UPW1 rnedium terrn plannln8. Recwlsjrrf OrNestM Is requlred to ddve the necessaryfoottall and a$SlIted ytyth. the Leadership Team hwe Idfied * 4reas to .facu5 on Sn 2025. These indude develo&Yng the and frn%tl Trnde markel fUrtr enhan¢tments to t everts progrdmme. 3 step change in holldty to attract the farn4 market ¢knln8 peik season and the delw¥of a nèw rnobiltrlri•)dlyTtsite. These areasfAtIII fwther¢oAsolidate the ftnanctal pertormance of 2024. bu11th3 varied (tsth* (fStoourcore markets in 1025 and bwnd. Prtnal ltsk3d UAortahrfles TheAurfit * Risk C(Knmiitee tsa sub<ommittee of the 8oard ofTru5tee5.The cornrnittee hastwts independe rnembE. A rtsk reeisttt has been cvmpiled the Executive team and ts reYived annually * the commlttee. and then by the Trustees. The most si8nifi¢antYisks are di5CU55ed. and mitsgatsn rtrategles are re¢wed. The current areas of mipjr potentjal rf5k5 to the Trust h44t been Identhed as the Mwum's ¢x4oln8 finandal . re¥lience and the maintenance of thea8eing site thfrnstru¢trJfe and est rinanciol resilience-This remains 4 primary ri5kfor 61r#)knds Museum. the (onllnued reprnent ofthe CBILS loan, due to mmplete 2026. the Museu$ r¥e$ pttd to be 111 up. PerfDrrnarKe 2024 has Page 8 of.35
Brooklands Musewn Trust Limited dernonstrated the Museum's abllity to operfe mwe efficienVI hvever Tnstees ¢08n1$e that this will take . time. Until the Museum has blt rese5 and fvrther Improved performance across all tts cammeruol actlvities, tt remains Vulnerne. Inuement41 InStrnent in w•JucL fvrther •npr(wem•)t to ftnancial manalement and reporting. and erowlng lundrai5ed income are ktyto enre the long-tefm finaKial mblllty . ofthemUseu The operétitin rernaiAS susceptibleto etemalfactors Indudin8eKtymeweather and Conned dlsnjpbon of mar tfaffic on the M25 JIO. due to rornte Swing 2026. Ever conscb)us of these ch•llen6es. mitS8•tron mSe5 are th place to manaee cost rf inrome tsreets a mrssed. Improved bud8etin8 processes. re8ularfe¥iew ofperfommnte arml cash flNTata twrd SEniar leadetship enable pwacdve decision makln& eststs remains a fisk th could impact opeTrt)n of 8rr¥iklands Museum as a ¥i5itr¥r attrjciltsn and comme141 venue. An upgraded sitewide fi alami system in 2024 ha$ gone some way to ensu better otectlon of ttasset Howev2r.thè obprall condition of buitt a5setsand the backlogof historic fflaintenantt is a continwl chaKen8e. Capitsl IrhYestt is ftecessary to re these jwes: h¥¢r, Trnstees recrqfiise thts ¢anft t adueved quf&ty. The Sumor Lezder5hip team are working on a fivtryear de¥doent proernmmethat why startto address this htyeT iTrrtrtmentwriH needto be thJThJTrised for. In thé intorim. tarytted reactlve malntenance pro8fdrtHne5 are in pSacè to deal with high-ri5k tssuts to stsblise them. An emeryency rnairtenarKe continynry of £50.(NJO was recomme1d Trustees to be induded in the annual ' P&L etfor X124to ensure resliaye lstwjlltinto deal with unfoeen issws, he¥eIth1$ was not wuired to be usèd in yèar. This emewcy rnairtenarKe tIerKY (ontinues lo be butlt into tr 2025 and 2026 .fore£a5ts. Continued lrnwovenrt to srle maintenarKe and management Ce5 111 4150 mitiyte r15 allow5ngtor planned InteentIonS. gradually redung the rnalntenance liability. Brooklands Museum's policy istohold rash knds frra varty asdesthbed 5Aitsfithds and reser5 policy. The Intended luftds fall into thrte broad tategi)ries'. l. UnwestriL-ted FurKl& prryddinethe operf1r re0sd f0rday-tO4 funn1 of the Museum. l. De51gnated FwK15. detvrnlned ty the Trusiees time to tkr lo plm for the Museum's future needs.. and J. Restricted Fuft ftstricknl to a speclfic and whlth can onP¥ be Sed for that purpos< for stsnce as a u>ndrthJn of• ÈML The des18nad fvndsare t#Jilt upfmm YKome that the mus8) rtrei¥es, whkh istyjtside the revenStreamS InCIled in the opuaone bud8et and is not Restrted. Cash swpluw * the el of the financial ytar be . allocated to desi8nated fvnd& The nature of the desw)ated aod allocated to them be deternilned a1 amended * theTrvstees In acrordance tith this poly. lorinstan donors and fvnd•3. At pré5ert. the Musewn Maw1n$ tt necessary Cash resrn tty its operntians and dallv requkements. whkh Indvdes the bank loan obts5ned under the 80%Ment.b?¢knd ron¥rUS 8u5ine5S brrterrup0n Loans Stherne ICBILSI. We aim to incrementally ld up our reserves as our resources perniit,. ensurfr4 a balance between the muse.5 firture needs th ¢urrert requirements. The forecast prDitrtions fc¢ 2025 show a ne¥ brakebn p05ikn bèforè dtpreciation. Owationally this 15 an impro¥emtnt on 2024. dut to higher levels of legaoes rerad ITr 2024 compared to slgnifiontly lower legacles forec¥t tsr 2025. Hty•rner ff¢ 15 ImrtI rlot to be cThi)pk¢ent and be prepared lor thallenEes that may tome al0 Re8ular monitorin4 of res$ 4wsus but*ts wntinues to cruclal to alhyw mrtyting measure5 to be implemented rf wwred. Pag89of36
8rooktarxls Museurn Tru8t Limitrd
The outline torEcast for 2026 a surplw befwe depre¢41ion of ElQ)AK#), thrs will be driven • 4%
Incfe45ein l&i5itOrnumknscnedI1V¢¥menttDVltorelp¢randde¥el0pmert0t non.visitor related
business.
TheTry5tees ha¥e tonsldered both ihe red 1025 Sjreast and atilidpated futwelJa<rythrouth to the end
of 2026. Based on this eW41uad. ar¥1 the aY•1ableush rvA>urw into account. they h4 (tyuded that it is
apwipriate to prepattthe fin•nthl statne a 8¢0Cern ba.
Brooklaftds Museum jolMd the fvndraisirq Rewlor ID 2024. frymalt5lOur tommltmerrt to compty
vAth the Code ofFundrain8 Practre. AIL fvnthisersarp requryl todemnstrate an undertanding of the Code
and makea ctynmrtmentto uphdd rtsvaluesTthentheypin the•5M.wedon0tuseiId partyfundrdfjser5.
No cornplzints vltre receNoJ On relakn to Fundraisin&
We are ? mttnber ofFwTrdrnisirrf eIltr aawe to Code ofFundrnisI Pf4Cttse. In¢lth In rellon
to I]nerable dtyrs. We a Vuknerable Donws 111£Y in place. FundTrislry staff are regTed follow the
polky rich Is re aRnuaUy.
Pl•ns
Tvawd5 the end of 2024. arthite
Brooklond$ Museum Trust Limited. Tfustees. Offlcffs and Professlonal Aa¥tsers twjke ofRkhmoThl SlrGer•ld Ather CBE LVO 3) AtherC8E LVO luty2014> Mr Mark 5elTynan DL lappjknfod jyou4) OlherTThstees Mr Nèll Austlfi Mr Grahzrn ChIm I•10241 Mr &mon Mithaelfjdes Ms Marflyn Scott MBE DL 141r Ad01ph Sesson Ir•swd Mr Geoff Want Mr Oofflinrc P4¥hNeri14wkndoLthl4l Dlrndor& CEO •anke 73 HIAh Street Jnty Kfn IDW &atesWells& •rnrthwaste London SheTrards Employrnent %Mtes Ltd 4 ts0UMe CtyJrt H•ffield P Jbourne EC4R IBE 8N6 908 Menzie5 LLP Chartered Accourrtants Magna Itouse 1&32 London Road . Thvll 48P 8rookland5 lknad . "gjryey Compary Wlstradon 14uAthr. 211P3915 Page11 of35
Brookiands Museum Trust Limtted P2port of the Tnee$ for the Year Endww 31• llecem 2024 The Trustees are to pres•rt thetr annual dwecttirs. fem togeitw Tfv4th the con%4idated financial ststefflents of the drity and its sub5idk?ry forthe year &)din8 31 December 2024. These are also Prepa to meet the requirernents for a dirertor5' rewt aThl accounts fw Companies Act purpose5. The financoal statements Corn whth the'Charitie5 Art 2011, the Companies Aa 26. the MerThirandum and Arttles Association, and kcounb'ng and Reportlng by CharFlfjes." St4me ol Recornmended Prdcknce appkablE to tharities ppanI¥ their Unts in accordaFKe ¥rith the anlI Ilewtin8 StaThlard appjicable in the UK aTh RepublKof Ireland (FAS 1021 leffEctive l January 20191. The otsJeLt oftheTfUStshall be to advance publeduatIOn in the hsttyyarrfl delopMent0f ¥ehides and alrcraft and owects of WthatsOe nature rdaIJ to mad trwrt ftyin& and In pinlwlar any of the fore8oin8 whh are a59xiated in any way wr(h aroland$ at In the cnty of Surrey, Brooktands Aa>Ie#nd 8rooJandsAero aub. Bmoklands Mus•Jm TNst's $[On h.. To IPe people t05hape the future thr(wgh hiswofh)ntrAtknnand endea¥tyJr. Bro(and$ Museum fnJsth45 three c(Ye pu 11 Celebrdte Brooklands. its people and thw achvemerts. 21 8e a place and cornrnunitywhert irNeniines¥ exfftse •nd cofflpelltibpness ltrrfe . 31 Imthsethe Cdlecthn and Httita8e to encoufiie Innovati aNI endewour. today and inthe fibture. isacNe¥ed ttrwh a varfjetyof•c¢rknthat Inckwje opEr4W 8rc)klands Mumum as a vb56ttYattractlon. dell¥eryof an award.wlnninclewni progr. comnwnityengagemen¢ a d1very pro¢r•mme of events •nd . actie4 and supportlfyg a tfjmftnIty of pasale ¥olunteots •rKI rne TheTru5t's gnn8d(uMert5OlE th¢FAemornnthJm ofUndwstaThlwwand Pxthles ofAs%odatlon ot 1987. as ¥mended bn 1999 and 28. The Trust is a rngtstered dmrity, UK Charity No 296661, and is a registered UK company. regirte nber 2109945. The Trust has a wholly sthlthary vadin8 comparhy. trooklands mited. registered number. 2311226. broOkndS Members or8anisation atso fufictTOnS as a ¥hholy ovmed activity of the Trust. FurthernKxE. the Trust has a ¥thalty led non-traing subsidlary comparbv 8rookland5 Wimy Inc inc(KpNated In itie Stste of Delaware in the i• whose sole pp isto own it5Vkers Wimy replka airtrrt on the Museum's behal£ Appolrbtmert of Trustees At tht July AGM. Sir Gerald Ather, fomialty stocd d¢ThTn as cr. He has been sutteeded by Mr Mark Seli8man, who underwent an appropriate reCltMent wxess led * Vktrchaircaptain Mike nister and supported by Trustees on the Renumerati and 14cffinalionscommitte Page 12of35
BrooktarMI5 Museum frust Limrted
Followin8 the appointmerrtof Mark SelwNn aschair, the tru5tee5 unanimou51y dectded to nomrnate Sir Geréld
Athera5 Preydentof 8rooklandsMuseum TrUStdtoe1e¥8te His Grace.The Duke ofRkthmond.to Patron. MRH.
Prince Mithiel ol Kent. Royal Patron of OrnobJaf•Js museuMTrtpemIsSw)n was SO priorto these tharys '.
occurfn8.
Two further tNsteÈ5 stood do¥m the Juty AGM, Mr RaThJotph Sessons and Mr Grnham Chisnall. lewhng four
vatandes on the board. A gcwnarte we41 tas rommi55ioned and led lry extemal tartsultant arKI specthlist.
magdal Rsher. who u•yJertook a skills audit of aisttng TruAee5. Fallowlr¥a thls audlt. Gndklates werè
Identified arid appolnted at the O¢rober Boa medin& Mr Martin George and Mr Doftmrric Alri. T
varanoes rern•in on the board and a recrU1trn 15 pI3Med IDT 2025.
The 8oard retslns Inan horwyaryathwcapadtya numbwofrellredseniorTrusteeS.whoaITr1tedto attend
Orn to the CEO 15 a
senior leadership team. who art 5UPPOrted bl a sefies of SP¢Ckilist departmerrt manayr& For 2024, the
organlsatfjon emplrypd a kn)tal of 69 FfE staff. tomp3rn1 to 81 FTE In 2023.
A lar8E nurnber oflurtee (c.) swort the staff In numemu5 way& The Trustées 4e yateful to the staff
nd voluntev5 for tr*ircoSlettrve and personal contributlofts to tht Museurn's suttess.
P8ge13of35
,Brookland3 Museum Trust Limited JwoJMectlon betweena rrusteeorseniormawyTofththaritywith a$eror¢$tWntrmtbeddosed hy Prfi¢yfor Sentor Slaff The TNsttts arn essenllaly the nonxecutrde Bo•rd ofthe and ofthe mmpary. bive their me freety and decror re¢ei¥ed M¥aljOn In the year. Drtaib of direct eÈpen5es and rdated party transaclkrf arethsd05ed In note 10 and note 20 of the accounts. t40 direthxs te1ved eNpensesorhad related party transathinsduring 2024. The Senior management team (the Oirertor& CEO and 5tnior.leaderstrip team) comprise the m4nagernent peNnl of the thartty. In tharKe of dtreciSnc ant controllin& and operniry trTruston a dadaY bas1& The p3y of the senior staff is re¥¥d alon8 with that of all empl$ a regular basis and i1reaSed in aCCLYdance Yoith e4min85 movements wKreè5e5 al50 infornied by the trathrf pos1tr.on of the . Mu5eurn. An elernent of ary ldgeted pay Incm5e for 5tsff 15 for merit.based rnlses and above any yerdl increase. PJI suth intreases are set witt¥n the ayted fimit ty the Dirertw & CEO In . oinwltatton thesenlor managernenttearn. The saryalthe trector&CEOissetbytheRemunernt5on and P4ominatron5 Sub-commltree of the Trust The Trustee5ha¥e had due rewd to the Charity Cornmi55ion public benefit. As a reé(stered charfjty. Broollands myse Trust serknjs responsiblyon fvlffill rtsobligation5fordeWng adear and tangible publKbenefitthrough tts acbvll. The 5xinopalareasinTthith itdelnr5this bentfrtaredefirt•J inthe •ctivthes to athie¥e its ams and obiechve5 as detsiled atthestsrt ofthe wrL The Nfvseurfsfflan4ementstii¥e5 to a balancebetween g•ieraifjn8thefunds re4ulred to malntalnand develop its herltage assets afftl mok1 the Museum's displays and adivtlie5 accessi to the 4de5t Possble audience. To achieve this balanct. we try to keep the core adrni5sion in line ith s•miLar attrdthons and commensurate 71tr¢ ver8 Museum runningojsts, ttlle creatirrfwemluffl rebEnueopportunltle5 suth asthe Cortcorde Experlence w enharKe omll Mo8eWeJd per¥lsitor. We oencoura8e as manyt01535 ptsssible to Gift Ald thelr adrnission. Cfjmpany law requlres the Tni5tee5 to Prepa flnancial smements for eath lInaral year. Under that law the Tiustee5 have elerted th Prepa thE financial statements in ar0)an th United Kingdorn Accounting Stsndards •nd applKable Iw (United Gener31ty Accepted AccwntwiÈ Pncticel. in(1J1e Flftanclal Reporrin8 Standard 102 Tr Financial Re5XJrti Stsndard applroble In the UK and Republic of treland.. Under Comp law the Trustees rNst Thjt appr the fina•1 thtements unle55 they 4rE satisfied th they Bive a tft and fairviewofthe state ofafvits of It(arIty w0fthesrplusor defiutolthe wmparryforthatperiod. In preparfngthose finanoal ststernen tleTntstees ¥e required to.. seled suitable account1 policiesznd then ap them cleth. observe the rnethods and principle5 in the Charities SORP: rnaknlwfgements3nd eslimates that are reasonaTrAe and prudènl pt•pxp th• finAtal thimnt% Thi th• 8ning mnrprn IyrJs lin1p it Is Inp[r¥Iats tn pTpw•mp that the t•rwil[ contwiue in bsxslnes Page 14of35
BrookLands MuseLwn Trust Limited TheTNrteesare reSpjnbleIor Jirigadequate ac¢ounts"rYd $tha1are gJfficientto show and explarn the harlty's transattfons and di5d05e with reasonable xtsJracy * 3ry tirne the financial p051tloTr of the charityand enable them to ensvre that the fiftanaal.5tstemer compty with the. Companies Art 2(X16. are also responsible for safeguardln8 the a5set5 of the Chwty and frjr tskin8 reasonable steps for the preNwllon and detecUon of fraud and other Irregall11eS. Dbsclosure of information to athjitor D15clvsyffe olknf•rni•llon toaw111ty5 Each ol the per%Jns who aredirectors atthe time kn thi5 Trustee< Report is aPPrd has confirnd that: • 50 far as the director 15 aware there 15 Tr) le¥ant alIt inforniatk+fvof which the charirfs auditor is unawa. • the iJrectr hastaken all xepsthattlwov8htt0th takn asa direttor in Ordt0 be aware of anv relevant audit Informati( and to e5tabli5h thattheali1or1sare of that infomiatton In.apprtr4l the Trusttes Anfi pp, the thJstre$ 4$0 appm¥e the Strate8ic Repm In their capacity as rompary dirertois. Under se¢¢fjon 487121 of the Companfjes 2(I)6. Mffizies LLP wll be deeffled to been reappoNrted a5 authtor5 28 after these finanaal 5tements Twere sent to members or 28 kn after the latest date preibed for filinKthe accourts wlth the registrar. whKhe¥tr is1. ApproNtd bythe 8oard olTrustees. Chairman: Mark Seb8m'DL Seuetary. JamesThorne P88816of35
Brookiands Museum Trust Limited lndepende.nt Auditor Rewt to the Member5 01 Brooklands Museum Tft Umlted We ha¥e auditedthefinan¢fjal AatemthtsofBroolands MuseumTrust ithited (the trarent charitable compaTrKI and tts subsldlaries (the 'group'l for tre tRar ended 31 Decernber 2024 which compr15e the Consolldated statemenr of ftnanual acdwties, theconsolidated b•l•nce shoel tr C&Thmpary tsalae sheet the Consolidated sktement of cash fl¢)ws and the related notes. ind1n& a swrnary of signtficant accounllng policle& The flnanoal reportire framewryk thèt been applied in their Pfepambon 15 applicable law and Unf(ed Kingdom Att¢)untln8 standa5, indudiw Financial smdard 102 Yhe Finaftual Repyting Stsndard applkable . the UK and Rewblk"dlrelaftd' (Uniied GenernltyAccepted AcrowtiPAttICe). In ¢winlon tho sktÈment&" l%E a tn and falr of the state of tt Group's and of the parentch3rftable comparry'5 affalr5 as at 31 December 2024 and of the Group's irmmtng resour znd applicatson of rTce$. including its Income and expendItU10T the yearthen ended; have ben property Pfepared In a¢corthrKe ¥Ath Unlled Kh¥dom" GeneTrlty A(wted Accountin8 Practlte: and s l•r •plhlon We condurted our audtt In accordance tlth Intern•tlonal Stsndarfs on Audlti IUKI (ISA5 IUKII and appllcab law. Our re5pon%blities underthose5tandard5 arefurtherde5uibedin tIAlt0, respornsiilie5fOrthe audit of thefinantial statemefitsSe£nof our reporLWe areindepavkntof the Grnupln accordantewith iheethical requirements that are Tde¥ant to tyjr audit ol the finan¢ial statements kn the United Kin¢dom, includi the Financial ReportiTha Cwcl's Wmol Standard. and we fuffilled our other ethlcal responsibilstie5 in acairdance with these requirements. We belie that the autht thrydeA we obtsined 15 5uffKiert and approwiateto probryde a t5 for ouropuiion. Conchmknns r•latsn¢tololr In audltlry the lInl31 5taternerts th the TnJstees' u%e of the gokng wncem basts of . accourtti in the preparntion of the finanaal Statem5 15 apprwiats. . Based on the work have pttfurned. not identified any ffi111 urtertatht5es relating to e4tnt5 or Condin5 ihaL Indo¥fjdual or cdle¢U¥dy, may cast Wfflcant db¢ on the Group's or the p¥ent thadtable a)mpa.nVs •Ility to COnne as a 60iw concem for a o14t least m¢ntr& when the fin•ncl•l sratements are authorfsed for tssue. .Pur fe5ponsiblllths the fe5ponsibiiitles of the Trtee5 Wtth pert to golw concern are de5crlJed in the relevant sertionsof this reporL The other inf0mtion comprise5 the information incIled the Annual rem other than the financial" statements and our Auditors, rep¢rt thefton. The Tntstets ¥e respon%ble for the her Infornn contained thin the Annual rEPOrt. Our opinion on the finantial ststements does It CO the other •)formatfjon and, cèpt to thé extwttathev4Me exp1rdtysu1 In ourrepor¢ notexprèss of assurance ujnelusion thereon. Our reSponbillr¥ is w read the other infom•th)n arnj. th dolni 54 consider whether the other information is materially inconsiAent with thè fin•n¢lal ststemtttts N our kn4)wledEe obtained In the cotsrse of P8qe16ot35
Brooklands Museum Trust Limrted
the audii or otherw15e appears to mateiith misstated. If we ideThOfy S material hiconsistendes or
api>arent material misstatémerts. we requirnl to detemiin.71th this gis rise to a material
mlsstatement in the financval 5tatemtnts them5d¥ek ff. based on the work we ha¥e perfornd, we (lUde
We hwè nothi to report in re¢3rd.
Oplrlon othw m1ttthsprextsQd C•itsArt 2006
In ouropinlon. based on the work urKlertaken in the rour5e of the audlt:
the Krforrnation in the TNsted rryort ind11 the StTew fty the flnanclal ¥ear for
. thith theftnancfjal are preparéd is cor4istentwrth trefinanci•l st•tennts.
the Intstees. rewt'and the 5trnttyc rep(rt ha4E been pitpafed m actoanCe wrth applKable Wl
M•tt•n on •rn v•quhd byexry
In the light ofour knryle afftd ur&randin8 of charitle (oinpary and rts enwronment obtsined in the
coutse of the auth¢ we have not 5dentlfied matwial mostattmentslhthe Tfustéeg kn¢hJdln8 thestrnteitc
report.
We have nothln8 to report In respea of the fallry4r mattw5 In rel•tkJn to blth Cornpanle5ActllTh requlres
us to report to you If. in ouropinion=
the parent charttable conw•rw has not kept ailequatr sufficiont ac¢ountJn8 re¢ord5, or tUrnS
adequate lor our audit ha¥enot been Cel¥ed frorn branchts It vistted by u5" or
the parert thwitable
BrooklarKls Museum TTu Lirnited oplnlon. Roasonats assurdnce ts a hieh &e1 of assuraKe. but 15 not a that an aL[t conducted in accordance wlth IUKI wlll detett a riuterial rnisststenient when 11 exlsts. Mlsststements can arlse from fraud or error and arE cor6idereil material bf. indN#lualty or in the aggrt8ale. they ¢odd reasonably be ' expecieoto Infiuence theeconomtc decin5 of user5 tsken on bassof thesefirhinaal Statements. Irrneularitie irKlul frdud. are irthnces of non-coryliance with lawSd regrtIonS. l•ledegin predureS In h'ne our resp0ri5ibilities. oudirled abob, to dEtert rnateroal mtsst•temeAts th respert of trregulzrfile5. in¢ludln8 fraud. The extent to whxh our procedffts are capable of dete£Ory Irre8ularltles. includini fvaud is detailed belo¥r. Tre GroLV and parent Charltsble conwary are subleci to laws and rwiatlons that d1¥ affect the financial sraternents inclLYng"financial repOrtfjng1eIathn.We detemi1nedth•tthefonowl laws and re8ulations were Irst stlficant indudirva the Charibe5 kt 2011, Compan5 Act 2006. Employment Hekn and Safety le4islatlon,and the W SafetyAct 19YO. Weassessed the extentof compliance W4th th&e laws and regulatfofts as part of our wIXedu on the e financial Sement Trtems. Wt understood lthi the Gro and pant charitsble ffjmpary Is compWing ¥Ath those legzl and reiulatoryframe•orksty maknng irquyieslo managen( those rE5F51bJe for legal and compliance procedures arHI tre ¢Thnparry wetary. We corroborated our inqulries throuth tyjr rthfw of bowd mMtrf. The engagefflent parrner assessed the engagemèrt team collerti¥ely had the approprlate competence and PabIlItS to idernufy or Ytwftise Aon-cornI3nce knith lawts and regulattons. The aS5e55mentdid nut idwitify ary Issues In thls a1 We assessed the susceptibilty of the Gmup ald parent chorr<ible comparfs financlal ststemrt to rnaterial mi55taternent. Indud1 how frèud mvAlrt o¢¢ur. We consldered the OPFLVtunitie5 and xKentivesthat may existwithinthe tyKafiisaknforfraLI Idemified the yeate5t entral forfr•Jd in the follo4nq areas.. of fraudulentloum41 entries
Pothng of fraudulent payments and receipts in theacCoFjn0l sofvare AuthorisatioT>, pro¢tssin& and paVmentoffrnJdulertpen%e5 Timln¢ of revenue reWEOn Audit prdU5 perfd by the en8a8ementte•rn lThcluded: Identhiln8 aThl assessiThg the design effeCtseSS of contrLls management ha5 In plare to pthrt ahd detert frnud: undetstandI h¢MT those tharyed Tith emance corwdwed and addressed the potentlal for ofcontrols or othér 1napwriatr Infle ortrthe finIal reponlngprnoss." Challen8in8 assnpnS and rnade by management in ts si8nifi(xnt accounting esrimates; and Idenffiithg •nd testlw JrnaL ertrfes, in particular. journal errtrie5 Posted with unusual ' Knt combinations. Because of the intrwent liTrMtsti0Tr5 of an audi¢ thffe is a riskthat we wlll detect all iffegulaTMes. IncJdl those leadlng to a materlal mi$5tatement in the finarKlal sratements +y rn-¢011•n¢e with regulat*)n. Th15 risk increases the more that compliance with a law w fegulalb)n is rem¢wed from the events ar#1 tw3nsacMns reftected in the financial statemens as we t11 be kss"likely to become aware of tStanS of rw]n<ompllance. The risk i5 akn 8reater re8ardin8 ITlal$ 0¢ITing due to fvaud rnther thah error. a5 frzud in%dve5 itrntieAoI eaNeIMent, loryery, eolluyion. omfjjjlon or mlyeycxntoilon. Poge 1aof35
BrorKI¥ Museum TnJ8t Llmited A further dewiptson of tyjr respon%bdities forthe audlt of the financial staternents 15 located on the Financial lieportlng cnd1'S website at: ¥A¥W.frcorg.UVOths. Thls dtsuip knrn5 part of cwr Auditor5. reprrt. This rEportis rnade 501etyto the tharltabk ffwnber% as a body. In acCordae wrth Chapter 3 of Part 16 of the Crrfnpanles P£t 2¢Th. Our aud ¥Mrk has been undertaen $0 that we rnht 5t*e to the thafftable (ornpaWs members m•tters we are to stste to them In an Auditors, reptyt and for no other purww. To the fullestextent perrThtted trrylaw. wedo ta¢{ept or assume resporkSlbllity to wryone other than the ctsritsble cornparty and its rnember& as a bo&¢. for ow for this regrt or for the opin5 MoAILVs LIP JANICE MATTHEWS FCA ISenl(Y StatulryyAudknr) For and on behalf of MEN21ES iLP Chartered A(ntants arnl StstutoryAwJltor asna House. 1&32 London Road Staine5-U¥ft•Tham•s . TWI8 4BP Page 19of35.
8rookiands Museum Trust Limited $07 11gJS2 S96518 JJiSJ17 31$)17 tJOlJ07 2X116N17 IOA97 IQAY7 IA>.7•3 135>555 113.7•1 iJ5135J IlJJ74 113,174 Qpyalon 4Jlll.714 4Jss.nA . JJs7Ji? 24n6 41> 5JtU14
s.ns wsJ•J
JU5• u?J•• JJ16 61JJl 30g.ns 178JJll JL450 tsAW5) 109A 491 1445• 1192JOI i• is 230.551 IOJ16thS0 SOIW L6501 27 The statement of finafKial activities ideS all 8ainsaThl losses rn¢•tsed in the year. PJI In0¢ resoue5 The note5 on pzgE5 23to 35 frjrn) Partofttr IlnaKlal slmert& Page 20 of36
Brooklands Museum Trust Llmited Ch•ity Oetr24 . Detr21 HwtrpAssets TawibleJ55ets InwlJn•its Trt4flM¢4JMts li IA06N4 i.6 9946J¥O IOml343 I08.614 9910353 50.100 1,106.684 9,979.72S 50.1(KI IW4505 li iU$1$64 U43 Stock$-•d$ l¢r rs•le . 77A34 34J529 n6A56 1.19719 8OJ57 316A28 1229JOI L616N6 317,154 522.236 839.390 322A46 1.059.263 Bl.705 C•¥h Itk and in h• LIMlies ityrs:affltsuts duev4thkn•fyEir 17 163ZWYI 12 J31 11574A38 12,179334 16s5)ll t90SJ331 1655J331 "1905J133 IIW,727 11217JIZ lo.91805 IlJ73501 Tho Rosrriaed iJfire5tricted Iwds 115.110 li90 9J147J)15 ISOj10 215.140 9J7J.137 1.650 A•luation reSE 1.650JYOO 20 iiw:n7 11227222 lo.9185 11273.501 The Companvs net M0MentIn furKls frythe rWIS{£354.8Y61[1o23- q644.71211 Oftotsl fvnds. £11,3S3,$64 lindudlniÉl,650,IYXI comprtses I4ble and is not avail>le to be speni in the norni•l course of bUseS The notes pa8e$ 23 to 35 form partofthtse nlIdated finaMi State.. . These IlnarKlal statements*reapprn¥ed bythe Trustees•nd swd onthw behalftrr. Mark Seugman DL Chwrnian l¥/ooIzs Page 21 of35
ookiands Museum Trust L•nited . Statement ol and Consoldaled Cathlh)ws. 31 December 2024 Ikt-14 D•¢43 363 IJJIL IOA97 9.349 16mS lrtor¢ sale alfix•4 assets biseoftswblefimdassets P64.1311 1224JS11 P30I741 JS IrtErestorth COI irfttektan Brookliftds t4J¥ 116J611 113,32SI 124x1301 1243tsJl 116.96ZI I2430} 1233251 1243001 12SOA))I P550) Iwtsse Ide£wsellncash• ¢aSheW4ents Inther 1453J4¥ gU991 1537JJ271 12547661 Cash thsh ¢qulBI•Lts atthebryOMlr¢rftheTrf LmgJ63 1,314J)19 776 noteson page5 23to 35 form part ofthoe c50&dat fimartfj $eMer£ Pqge 22 of 35
Brookiands Museum Trust L¥nTted Notes to Accow Year Ended 31st De<enw 2024 . i. rordl Inlimrnthi Bfooklands Museum Umlted a c(¥ryary Ilmited by8•wantee incrypryed tn EnBland aThl Wales. The addre55 of its rewstered Offi45 dSsclosed cffi pa¢e 12. The presentational currency is lthe sarne as the fvnc¢iowl curww whith 15 pounds $terrM The accounts are mundèd to the nearest L Evuy member of the companyundertakesto tribrtetothe assets of the company, In the event oithe same hel up, suth amowts as may be reqsJ4ed not exeedii18 swn of£S. 3. Museym CoUe¢tlon Under the terrrfj of a Trurt deed ded 26 July 1989. the fvooktands Museum Comedlon Tnst W45 formed for the purposeof hoklin8s(wne of theexlithtsof Br(Jklands Museurn. On 31 P+1arch 1990ownewshipofall Museum exhlbits at that date was transferwEd frorn thi5 company to the BrooJan¢ts muse Collertvx Tfust. The Brooklands Museum Colection Tru ty the tenns of the sald deed, loans the exhibits to thts company for dlsplay purposes. The Colteaions Trust ts a sep¥atrly r4isteTed Charity ltharity wmber.. 2%661-11 froiii 14 arch 2(A% ar1 Is dasslfjed as a wbsidiary of the" Musetsffl. li conducted no trade thring thè period and remalned entlretydormanL Theassets of the Collertion Tnjst hawe rever been Valwl and a rK consdidated Fnto these accounts. 4. •x(4unfjn¥PolKles B•sls olPrwratio The financial 5tsternents are wep¥ed th xcorf•nce wlth Paountins and Reportlng by Charftles.. Statement of Recommended practi applicable to thaftties Prepari thehr acCOts In accordance the FaIla1 Reporrlng Standard appfiuble In the UK and the Republic of Ireland IFRS1021 (effective ljanuary 20191 and the Cornpanies Art 2006. A55ets aTrJ liabdities are initrally recwmsed at historkal cost or transactlon value unless othyAse stated in the relevant accounting poltty notelsl. The statement of finandal a¢D¥it ISOFAI and the balance sheet cowolldatE the financial statements of the tharity ind its subsidiary Undertak1. The results of the subsidlary are C(Kldate&l on a lir-ty4ne basi& The tharlty consider5 itsdf to be a Publlc Beneflt Entlty .as deftned FR5102. Acrnuntir¥d estimates and aswmptins are made c¢Jncerni the firture a1. by their natur¢ I11 Arely equal the related actual outcome. The key assnptiofts and other sourtt5 of eMimaticffi uncertalnty that have a 5i8nificant risk of cau5iiis a matewial luse¢tothe arryini arntyjnts ol assets and Ilabllltles wlthln next financial year aredi5CU55ed btkJw. Income lsrecognised in the Ststement of Flnanual Athitiesonce the Museurn has entiilernentto the resou$. HowÈ¥er. the entitlementto these resourtts and re8anliThg ¥then income is recognised ts down to interpretation. tiabilitle5 are recognised there there 5$ a lepl and ¢$ttIVe obllKation committin8 the charity to the expènditure. Noer. the IE¥el of Wl obliryion to thi¢h these resrceS We inojrred and assumptions regardi ¥•thén Obligatio arn recorded is do¥ffl to inierpretation. The Trustee5 have 5ryiared detsiled praierlions Ipr tht next 18 M(th$ and Artline proiectrbns up to 2026. based on experted inc¢Jme frorn re8Utar activitie5* 8rants and d(Thtion5 from lur¥Jer5 and uther donations. against expected general and project expenthture. On the basis of tfrhise proierti¢)ns, tw consAlef the tharlty and 8roup to èe a ¢01 corKern for at least 12 months following aFyroval of the %counts and for the foreseeable future. No rnerial certntieS that may casr sI1fiCant drvjbt about the ablity of the Museum to tontlnue as a yxng concem have been identlfied by mana8ernert or Trustees. The financial statements a¥e been prepared on the gowvd concern.basis. Page 23 of35
Brookiand8 Mu8eumTrust Limiied Grwp FlnaKlalStatmeThts The financial statements con501idate the resultsof the tharity and its whol1 owned gJbswlary Brooklands itd on a lintrby4ine basis. A separatestateffrt0f Financial ACtI¥it arml income and expendtlure account forthe chawity ha5 not been presented becausethe Trust hastaken advanta8e ofthe exemption afforded by section 408 ofthe tpaThe5Act Accvrnulated surpluses in ts General hind awe inthded within Unrestricted Fund5 and are avalable for use at the discre0 of the Tru5tee5 in lurthefance ol the Trusts general ¢harltatrAe abiecti¥e& Restrkted Funds a subjert to spe¢ffi¢cOndltins imposed the donor5. All income is recogni5ed in the Staternent of Hnancial Acti¥rtie5Twhen the condit{c$for receipt ha¥e been there is feasonable 455uranceof receip¢ and the amount can be measLLred th sufficlent rtliabilitv. For legacle5. endent is taken a5 the earlier of: the d on thich the charity isaware that probate has bEen yanted: the estate has been finallsed, and notificth ha5.l>een made lrytheewkn(sltothe Trustthatdistributbon will be made.. or when a distribution is.received frt theestate. Receipt ol a le8acy. in whok ¢x in pan. is probable the arUnt Can be rneasud. rellably and the charity has be•i notified of the executorfs intent•)n to make a distribution. Vlhere le8aae5 have been notified io the charity, Ot the thartty is aware of the granting of probate. the citterta for kncome reco8nlrlon have not been met then the le83qT is a treated as a contingent asset and disclosed If. material. (NanI D¢)natk>ns ond all other recdptsfroffl funlkai5iart repted¢TO$$andtdatÈd fUndtsInIco5ts areleported in otherÉxptndÉlure. Donations are induded in fvll In thtMKome and exwd(wre account on a receipts bèsis. Income tsx re¢oveRble in relairontodonations receibdundergiftaid 15 recogriised atthe time of the donatlon. . No amounts are included In the financial staternents for seryvs d<>nated.by volunteers. G¢wernrnent grants are IrK(xning resour vjlxh are,re£ei¥ed'frun 8ty4ernfflent agend and. . similar bodie5 whethu kncal or national. &xh erants aFE accouTrtrd for art rtce5¥able. Amourrts spedffied for fvture pertods are carried fopard as deferyed IrKome. Incomefr4fft ChafftableActl¥knand Tradlry Incon from tickd sale5 is recognised at the of the vislt •thl is of Value Added Tax. "kncome recew in Pert Offure Fier40ds Is carrd forward as deferred irKome. Incomefrom the saleof Is rewi5ed at the pthnt otsale and is Shown netof Vye Added Ta Income from caterini 15 reISed at the paDii of PfWSK)n of the ¢ateMg and i5 shown net of Value Added Tax. Incorne received In respect of fvtwe periods is carT*l forward as delerred rncme. Expendl¢¥ve Expenditure is recolSed on an accNats ba515 as • kbilrry ts irttwred. Exgerrfljtute Ihrludes any VAT vthlch nnot bc lully rccovcrcd and i5rcportcd 05 PQrtof theexpendituro towhlth itfelotC5. Costs of 6LYcroting fundtJ ompiisethe¢oMsassOfiated with attrnc•"nIbntsry income andtheaistsof trath8lorfuAd-rJisingpurposes. P8ge 24 of35
8ro(thnds Musèum Trust Limited ' Charabk expenditure CompSe$ costs itKurrEd ty the Museum kn the delivery of thelr Ktrvities and servkes for benefioarte5. ft indudes both costs that can bt allocated dirertlyto those actiV4tie5 and those costs ofanlndect naturenece55aryto suppxtthem. Costsin rttiont0 comlanceh consfjtutional and statutory quirenients areshoym underg0¥wne Gthrnance costs ildethI)Se costs assoclated with meeljng . the cLy1ttanal and statsrtory requirErnents of the Museum and indude the audit feesand costs Support tost5 are shartd atras5 all attivilies undertaken thè Museum and Indje 11Th¢e cost allocated is Set0 in Note 9. TeMn30 btneffts ar15e where ernp ts rethndarrt or acLEpts aThl are chad to the Statemert of Fwwitial immediatety. liabikty 15 recwwl as the best esdnmte of the ¢4151 at the repowtini da As%etsfinanced under hire purthasecontractsare catytalised Inthe balaicesFttt and aredepred3tederthe1T eAimated usefvl.econfnlc t$. FInae and intewE5t in aJnrth tmth hire pufthase contracts are tharyed w the profft and lossaccounL Individual ffftd assets rostin8 more than El.(XM) are tapitalised atco ildiny and major Thiseum work5•re deprttiaod sy4er 20 year& Plart & equipment sdepre¢i•ted ¢) 5 ya . The land elementofthe site is arrled ata valuaocffi of £1,650.(D)•kh wascalcated whentht 4tswas glf to ttre museum japan Tobac Internati¢xo1. No depreciat.on 15 cha on land. The 8AF pmiert was corntted In 2017 and thE individual elements of the spend are bery deprnclated over between I25 year& H•rllryeAssets The ffluseurn'5 colledion of motor £ar5. mQtorryde5 and airtt•fL exdudine the assets held in the Bfooklands Museum Collealon Trus( Is Ported the Sheet at cosL Thls Is conlered to be an appropriate metho4 of ¢08nitIofi M the b•5is thattht vakn of of these Items C flu¢DJate but are av•ilable to be sold In the normal course of l¥Jsiness. Cost Includes the purthase prire S any associated costs the exhlblt to its Se in the Muswin arml to its currènt tondliion. Depryiation is not providul on arry Museum exhilmts astheftsidu vahjeof the exhibits Èquates to atleastthe net book v31ué stated in the financial Staterne Mort thmted assets are fiot ascred • value as the costof obtaini suth a value would bE prohibitiw Subltt0 the apwoval of theTnotee5.the Museum maydlspD5e of•t•n5frnm the c4jlleclK althuu8h this wil onty h3ppen in Wtional clrcum5tsntes, for example when the rtem canr•Ot be dtsFAayed or the disposal. proceed5 can be used to purchase a better example. Due FY(xes5 and a55e5sment w0d be followed that satisfies Museunfs di¥hyAI edUreS. The Museum's exhibits Klude a ojllection of items loaned to them by thlrd partiE5. These assets we not 1je on the Balancesheet Sre thry are not v•med tythe Museum. In additlon. the Museum hdds a of and aviation ephemera Is not recognlsed in the Balance Sheèt as c05t urf0mtIon 15 not re•JiPy avaitsble and tht Trustees believe the Iefits of obtainlng a Valuation for these items wwld not jV5tify the cosL The Museum's management policy in respert of its heiiwe assets i% 5urnmartsed in 14ote 12. The museTr makes avallablt on its website a lull IMing of its Collett of motor cars aThl planes wNch aLso inchJde5 inforniatlon on the history and pro¥enance of èath exhibiL Thi5 listing dearly disiin8uithes between o5ets whlth are owrd by t Mu5ewn and those that awe on short orlow term loan to the entity. Page25of35
Brooklands Museum Trust Limited Stacks St¢Kks. belngfinlshed 8ood5 afKI yods forresale. ValUed atthe lowerof cost •MI net rtalisable value. ' Qblo Trade other dekn" a¥e rècwised at the selvewrt due atw ary trade discount offered. Prep3JYMnts are ¥31ued attheamOt wepaid aftertakI %¢wttofarry twadt due. that will probabfy result kn the tronsferof fo athkd party and the •mount due to settle the obligzthn rarh be measured oresv"med reliabty. Crediwrs and wovish?nsare normalty recolSed attheirsettlement amount after allowingfor anytr3dedixounts thje. FINndal utruments The y¢wp onl¥ h43 financial assets and liabilknes of a kirml that QlIfy as basic ftnaft(i41 instrwnetit& Bask financbal instrumerts are Inilialyt)Uredat twan5aclion Value subwuenty mEaswed atthelrsettlement value. Deferred tax is re£o8nised in respettof al1timldiffIVthèthaofIJted butTr)t rerttsedatthe bal•tKe sheet date where transadions or eve1 (Koxfed atthat datethat wlll In an obltWoD w payrno, or a ri¥M to pay less or trt receive rn0 1024 2013 Oonatloris 14acy Dtsnati¢Jrt GIftAd Restricted DoMti<>fis 71452 230,236 205,147 31957 85.075 181.934 289.552 816279 596Jl8 Ofthe£811279 cecebrnl In 202412023: £3]8) £308.444 was hekl in re$tykt funds12023.. £289.$521 . Grfi Ald 15 dalmed on don•thn% nmbersNps admts5k>rfj. **wethe correa GIftAld dedarnfjon5 hwe . been madt. Uwestrkled fimd5' 2024 Gate relue Menbtrships 'te hire Concorde Other in¢omin6 resource5 1.953,416 712.426 73.771 154,754 121020 3A115J87 1.714,419 551,938 53,189 134.485 L501J07 Psge 26of35
BrookLands Museum Trust Limited The wholty owned trad1 gAb5hJl4ry 8rookknds itd 15 Unitedin¥dom Icornpany number 23212261. Its registered office is the s•ne as Bfooklands IAuseuffl Tn tirnited. It pays all of its yofjts to the tharity under the gift ad sthemi Bmoklands Ltd opeTrtes the Museum Shop. Bmoklands Concorde Simulawr and all caterin¢athviifjes onsite. A summary of the Irathng results 15 sh( beknw. The re8i5tered office of Brookland51irnited 15 at DobJ•nds Brookl•nds Roa4 Vlrybridge. rItY Kr13 Turno¥•r Costof sale5" Gross prollt IA95502 2,006,487 3975 I42.$12 11195247 PAmlnt3tratiT•E expe5.. (926x181 11,041,fj641 168.439 848 Inwest rttefjwableand slmll•r Incorre ' 3962 4.402 172401 5250 Op•m r•tskn•d earntty . 1462781 151.5281 IZ6J?J ' 1462711 At the yearend tha88repts assets af Bffjoklarth L¢rhdwere £418.S2212023.. £310.5241. aggregate liabilities £292.29912023.. E356.7021 and shareholderfvThls £126223.12023: W46.17811. Dec-23 mana8emerf f••$ fflan4emert f••s•Mltautllln 0recIation M•nayrrntFff5 Prnfrt •n ordln 39lJ54 22916 1SJS3 20.366 204 000 204 i)00 50 •al¥lllesbefo t•x•tlon Pag• 27 of&5
Brooklands mus9m Trust Limited . 8. Ythy D24 DEt-23 - auditfees . taxation and OlherconsthtsVKY .other s¥vic¢5 (le£lation.. In Yer 27295 19.050 10.148 309.775 346A73 9,16& 278 314A99 10.148 .294222 324370 9.166 257.673 U5A19 2Q24 stsflC45ts rtttcosts Flnonce 621JlO 82J47 1SOBJ35 1.17111 I166 202S2 1955J70 1,759 105J66 506.781 its207 111207 15518 49191$ IT&ConrG Fidlitie 25511 W27 sknIIc05ts 20JII4 404m4 33A15 26J72 7L331 9A95 .?a6 iowi IT&C4r¢ra s56 IY.745 35J40 ujii F•dllYe5 6957 4291 9&149 60574 W79 5> 714 Stswcos reKtCo%ts $8932 8ZJII 365281 503Jn IS791 I.16970 io¥J l?Xl93 tJJU4l74 A.7W54 196W3 147J97 19454 InSranCe IT&Cqn¥r I397 1gA54 307M4 110.778 IY3S4 ' 10 14A49 8J95 11 171pJa 40.130 24.994 54S•Z JW67 $7 Finartc• Insuran IT•Cgl 1.7n 3155 1492 6j47 5389 11.659 31223 17A74 Fatiliffjes f4¢f•re 8471S 76.027 XO1,790 $2211 •1 'In¢l*Jdirya the costs of the tr•dk¥5ubs#liary Broo11•r Ltd (Not• 7) Page 28 of35
8rooklarKl$ Museum Trust Lifflited minlstra¥an &Fra[%1S te& Se(urlty Collociions & Hvlta¢e GenerallneFunds i&rnlne& Stsyt¢ 19 16 67 ij 81 Employecosts duringth•y¥èr'. Wates and s•l•rles SocSal security eosts 2J86.lJS 104.390 2.16Z.764 189.716 P•bslon 65914 66,724 19 A¥erayThJffwofpwsons w1+)d.. IdmiStratsQn & Fundraisiry Slte& CollttbLNlS.& Herittie Iknerabn¢Fun& ieaminÉ& M511tir Sev¥itts 19 17 34 13 17 20 76 65 53 Do¢44 W4E% arml salarie5 So¢i•l sttuiitytg5ts IW,560 151 $4 1.529.124 142A65 50391 L711J80 In the ranp £60.(JJ to £70.IXWJ Inthe range £70.LThJJ to £.11 . Inthe £.( to 1.( Key managnent personnel ofthe charityduring 2024cornprlsedolthe Chief Exeojttve Officer. Finartce Director. Chlel oPerdti Olfw. HR & BusnvS Services Ixrecior. Head of Dfftk>pmenl and Direcior of Herlwe. Interpretztson & Enga¢ernent 7ts)se employee costs total £404.88412023.. £289.8051. Durin8 thè 1. Trustees recelbyd any mumeratiM orothw benellts12023: £NIL). Durin8theyearended 31st December 2024, no Tntsexpense$14¥ been incwr*d12023: ENILI. Pa8e29 of 35
Brookiands Museum Tnlst Limtted ii. Talble Flxed Assets 675A I17)16 L43J9J 2294,569 Agj IS397 233Wi 99 dditir 015PJ5•15 At31 Qxefflbv2024 $?SA li zJn.7?1 Al J•nuary1024 lwpfarthiar fj?SML Il*jI? 105.164 ISJ 4372J70 JOY.775 5210 .4 677 555 2Wii At31OKontsr 1024 67$ 8t At3ll)e¢effllpw2014 IJSltsg1 IL353ts AtJlthrEnthr IOIJ 4J4&X)L l)75 IL43WY
lJ•rwry1014
6750 IW7JJ6 14Lrn 15.40&43S 214JSI 135? OiSpos•Is $31 675AC 1156SJ35 iJafvJèry1024 CharyEfr¥theyeat 675X 204u 294222 67S 4 Il6 74$ 1224J65 11317W• lJ48901 IlaOJ14 113X.409 te FwEehold vauathsn The Musewn holds th ofthe MuSm srte freelvJld hine been the benefriary of a ge5 transfer from JapanTobac(o IrK in 2010. The propertywa5edonan exi5tin8Use ba5T5by refeet0 itsearnin85 Potenfjal IV PAatthEw5 Goodm LLP. The property Is subiert to ts Cry4want that the ewent the slty part of il 15. 501d fvr redevetopmentforcommertlal pln. al pro£eed5 rVrtIO theoty, Iwn Tobacto Internaib)nal. ThelUatI of£l.650,11(Kl, indudedin thtg•xI bulidtyycosts Ixwhtfryward. h45 been an the basls thatthe tille is unenwmbered andfree frtym onerous OT re5trictsve m¥en¥hta5 to it5 use. However. It has been a5sufTd thatthe slte conllnue to be used for r[8t purposes. Theorryin8vae0ffftXed assets are edged as securityfor fAblllbes b£ll,353.56412023: É11,43I0271. Page 30 of3S
BrorA(Land8 Museum Trust Llmlted 411 J>J 310e¢1024 Totyl Cavrwwwlu Other than dtsdosed •bo¥A the rnaltyity of tr$1¢0n$ in ephemera the ptrthid acquislllorts by Ojnalkn. In the Tru5tee< the v31ue oltlw donakn Is not merfal obtaintry a curr•rt valuatlo ThY)ukl inw)e disproportlonats rosL b1¢e$lNch refiecl the hlAoryof 6rool•nds. Allthe5• Item$are th¢•Ayto the ythli The Museurn also holds a la cotleckn of fflotoriya and a¥iaiionephemerd aSSOCi•ted vrith the histw of the slte. Thls collertEw ccrfnprlge5 50JXJO iierns indudmw manual8 t1vles. Wes. models fufnltu worfvshop equipment. prfnts, palnihyand dM¥in¢s plus a ènd eensfve photo and tethnlcal alth17. The Invtstsnent ¥nount of £50JXX) Ioecembu 2023 . £50.(Wl Is In re5pert ol • debenture loan rrode to BrookJand5 Limited, thE tsadry wbsidiary of Brooklands Museum Trust LiTrMted. Thi5 debpnture loan ¥A5 for perfod of5 yews wlth the balaft reptyable In ful atthe erMI of the terni.. in Practi it is renewed on a rollln8 basis upon the date of expiry and b ttvefoye due in m¢¥re than l year. It15 the1? a)ildnI to be a red asset In¥estmenL It15 seujred rn the ats the 5ub5khry o)mp and lrtert 15 Chaed at 1% above se rate anmAIIy. Subsldkry. Countyof Onllnary Sh•rns Il•ld 8r•)bJands iimtted Ernd and Wales aThl ffrthandtse latIn¥t0 the 8rooWands NJseum The resutt50fthls gjbthry are5lwY Nrte 7 to theaccourA 14 Qpltal fgmmi There we no Contszrttd tapiial comnths for the grnup and the comp•ny at 31st pernber 2024131st Deomber 2023. É60.0ty)J. Pag•31 of
Brookiarwjs Museum Trust Limited Group stsxks held by thetrad1sbSOdfjary. De¢-24 Shop stock Gen¥al Shop Stock kS twingstock. Food and 8edv•qa 40.124 7,115 30.595 77.834 44h58 8.293 27 80,257 Pro¥i51on for51rywnVI 5trKk 77.834 11•(-24 TAdodebtrKs 30Jii ITM4 11374 30JJ39 I81)5 by4ubsSth•ry Piepayrnlnts oth 297317 2J13 1211 J17 17. 2$0A 21152 2S0AIO 144547 126A87 Tr•deert4i¢•ts VAT.ts¥a¥onand S41 sttwlty lits dtjeb) SLsldiarycornpry kcrwls d drf4rr I64.¥ 7&Z81 23.564 115.206 U2SSJ lo27 175.719 1&105 9&713 OAlevrndlnvJrn• * iJawy2•t4 8?05 {8.7051 3J lJJ141 8.705 164J%) 10.193 (12J591 SI•Are¥saIa OelrndtyFC41arytsf 55A91 O•l•vw•d trrtW•# ii0•t•b*t2024 pa a2 of36
8rooklands Museum Trust Limlted
The aHr
D•tr24
DK.23
Bank loan- (W15
erolandS BorKI
14533
siojx
395.833
510A
145133
510JXA)
395A33
Slo.)0
655
33
33
655
33
905A3J
The aro)kJands 8ot41 of£SIO.IYYJ.rela¢esto bonds Issued in ma 2015. Intorest b payablt annually at 3.5%to
. 4.s%d•perth8 on the Itrtl oftnds155ed. The next 8rookW dwill be In Marth 2028.
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Brooklandsmuseum Trust Limikd T#ial lknre51rfcttdfd5 Restrictedfvnds 9.703.5fj4 1.65Qfft) 125.406 IllS90 165SJ331 9.173,13.. IA71590 IL353 655.J331 .727 L•n¢Tevm T4 1014 Unrestrictvj fvnds Restrici•Jfvnd5 .717J17 IMomo 1142891 221590 165SA331 g)J47.015 I17190 li 107 655 8a3 L•iTern 21113 ' Unre51rfctEd Ratricted fvDds 9.781m7 1.65QJXKI 19)5.833 9J62I18Z I65.110 215.140 27 905.813 22 Tthl Ihwe5trttyJ fvrtds Re5tri¢ted fuftds 9.786508 1.650DXI 517.685 215.140 053> 9.408J60 U65.J40 IIA36 742 33 The $Its of the trnthng Jubsithry Bwool•rts Urnlted is slK¥Wll In 14ote 7. the aMrrtS due to and Mana8ement thargesto Blooand$Urntted durw¥tsyearwere£204.00012023: £l04.L). At 31 Defflber 2024 8M0and5 Limited £23564 p•mt th•th (2023,. 0.039 owed to P3rent wmparyl. In ye¥. the tharity. Brookl•¥Js MuseurnTrus¢ rerIed don*15 frornthe Trustee5totaNin8£2L333. Page 34 of35
Bfooktands Mu8eum Trust Ltmit¢d TheCtr•v lJw24 DÈ¢-23 (t43 NEtlncom•ll•¥wdivwellortrrewti 1182A951 P54.8951 1644.7131 4tli¥ities'. Deweclallgn th#r8e L055 on thsposal Int¥tstinromE 5ha¥JN In Intere51¢m(OILS Inwest¢)ts OrookJ4nds (IrseO¢crE9S¢ in sthck .11reaSe)1d¢£reaS¢In reisewincreaseln crathbirs 309.775 278A139 294222 157A73 1133111 16362 23.325 2A1¥ P6.7Qll P4A1351 (20A971 ¢9.9491 1636Z 2JJ25 I169$ 24030 2430 14J 31.728 439.75$ 1S1)M9 S.IY2 16.7951 n6.155 1993 32 363343 Der44 Cash In hènd 776.456 1229WI 522236- lJ)$9.263 Totsl (ash andcash eouSvalts)ts 776.456 122901 522236 IXIS9.263 ¢4SaJ451 7768S6 1453J451 tsllln6due¥thIll LIVIei 12SIIOOII 1250AKOI {655M331 73 03 129J At 31st Decefflber 1024. the group and the tharity had cofflnto make fvture minrmuffl lease payments under nonrytantellable opefating leases as follow5. Notlatwthen I iat Iyfj¥•fid ncrtlarthan Sir$ 5J17 5917 li1 17.778 The1ollnI1oaS1)Thty h•¥Eb¢wrwjs1% •••purylntreSl•lryr•irfAryl•I tilIes. L479 35 of