##
|nts||||
|---|---|---|---|
||||Page|
|Legal and administrative
information||||
|Chairman's
Report||||
|Trustees'
annual
report (incorporating||the Strategic Report)|3 - 12|
|Structure, governance
&management||||
|Strategic report||||
|Objectives &activities||||
|Achievements
&performance||||
|Financial
review||||
|Plans for future periods||||
|Principal
risks &uncertainties||||
|Statement ofTrustees'
responsibilities||||
|Auditor's
report to the Trustees|||14-16|
|Consolidated
Statement offinancial|activities||17|
|Consolidated
balance sheet|||18|
|Cash flow statement|||19|
|Notes tothe financial statements|||20-35|
##
|Charity number|Charity number|297897||
|---|---|---|---|
|Company|number|2109510||
|Registered Office||Middle Wallop||
|||Stockbridge||
|||Ha m ps hire
SO20 BDY||
|Chief Executive||LucyJohnson||
|Trustees||Sir Gary Coward
(Chairman)||
|||Colin Sibun (Vice Chairman)||
|||Caroline
Hopkins (Treasurer)||
|||Phillip Webb||
|||Richard Maloney (deceased 30March 2021)||
|||Colonel Alex Willman|(resigned 28 March 2021)|
|||Colonel Jon Bryant OBE ADC (resigned 27 March 2020)||
|||Rhonda
Smith||
|||Paul Edwards||
|||Alison Shutt||
|||Paul Beaver||
|||Colonel Julian Facer (from 1July 2020)||
|||Colonel Robin Melling|(from 28 March 2021)|
|||Warrant
Officer 1Gavin Good||
|Company|Secretary|Andrew
Simkins||
|Senior Statutory Auditor||Kerry Lawrance
FCA||
|Auditors|and|Compass Accountants|Limited|
|Accountants||Venture
House, The Tanneries||
|||East Street||
|||Titchfield||
|||Hampshire
PO14 4AR||
|Bankers||Royal Bank ofScotland||
|||Halts Farnborough
Branch||
|||Lawrie House, Victoria|Road|
|||Farnborough||
|||Hampshire
GU14 7NR||
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|MEDIA||As at 30/04/2021|As at|'Yo Change|
|---|---|---|---|---|
||||28/04/2020|over year|
|Twitter|Followers|4,195|3,315|26.5'Yo|
|Facebook Followers||8,901|6,506|36.8Yo|
|Instagram||2,363|1,374|71.9%|
|Mailing|List|9,475|4,304|120.1'Yo|
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|||YTD|VISITOR NOS|TICKET INCOME|CAFE INCOME|SHOP INCOME|
|---|---|---|---|---|---|---|
|28|FEB|21*|14,388|f95,093|E46,538|E31,066|
|29|FEB|20**|36,282|E257,320|E188,984|E67,692|
|28|FEB|19**"|23,568|F147,087|E142,183|E58,443|
|28|FEB|18|30,354|6189,758|E146,681|E75,732|
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|STRATEGIC RISK|||||||||||||RESPONSE||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Income Generation|||||||||||||Project Eagle will|substantially||increase|
|The Museum
has,
in the|past,
relied||||on|income|||from events||||footfall
and
trading.
In|||addition,|
|supported
by the Ministry||of Defence|||to generate|||||a|surplus.||fundraising
will|become a|component||
|These events are no longer||available||and||so additional|||||income||ofcore funding.||||
|needs to be generated
through|||footfall,||trading||and fundra ising.||||||||||
|In addition,
Ministry ofDefence funding|||||and material|||||support||is|||||
|likely to decrease
over time,|||putting||further||pressure||||on the||||||
|Museum
budget.|||||||||||||||||
|Covid-19|||||||||||||All opportunities|for fundraising
and|||
|The impact ofany future|peaks and subsequent|||||||lockdowns
will|||||income
generation
must||be|actioned|
|have a significant
impact|on|the reserves.|||||||||||when possible.||||
|Loss ofReputation|||||||||||||Legal
compliance
and
a||culture
of||
|Adverse
comment
and|poor
reputation||||||affect||||business||customer service|and value|for money.||
|performance.|||||||||||||||||
|Maintenance
liability.|||||||||||||Significant
Improvements|||in
the|
|Pressure
on
Ministry|of||Defence||funding||||has||reduced||material
state ofthe Museum|||through|
|maintenance
support
putting|||additional|||pressure|||on||museum||Project Eagle plus a system||of planned||
|funding|||||||||||||maintenance.||||
|HR Risk|||||||||||||HR
advice
has|been
outsourced
to|||
|Errors in HR management|can||lead to|discontent,|||||stress, loss of||||Peninsula
business services.||||
|productivity
and in extreme||cases, tribunals
and||||||fines.|||||||||
|Health and Safety|||||||||||||Health
and
Safety
advice|||has
been|
|Inadvertent
noncompliance||with
Health||||and Safety||||legislation|||outsourced.||||
|leading to a fine.|||||||||||||||||
|Fraud|||||||||||||Implementation|ofProper|procedures.||
|Staff loading/Incapacity|||||||||||||Careful
monitoring
and|||Keyman|
||||||||||||||insurance||||
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||||Unrestricted|Restricted|2021|Unrestricted|Restricted|2020|
|---|---|---|---|---|---|---|---|---|
||||funds|funds|Total|funds|funds|Total|
|||Notes|f|f|f|f|f|f|
||Income from:||||||||
||Donations
and legacies||||||||
||Grant
in aid|4||61,696|61,696||76,550|76,550|
||Services donated
by the Ministry||||||||
||ofDefence|4||71,571|71,571||71,571|71,571|
||Donations
and grants|4|184,730|115,032|299,762|19,180|464,563|483,743|
||Legacies|5|98,549||98,549|3,003||3,003|
||Charitable
activities||||||||
||Admissions|6|120,379||120,379|351,383|240|351,623|
||Other trading activities||||||||
||Trading company|3|92,728||92,728|291,009||291,009|
||Investments|7|46|386|432|320|1132|1,452|
||Other|8|2,735||2,735|69,469||69,469|
||Total income||499,167|248,685|747,852|734,364|614,056|1,348,420|
||Expenditure
on:||||||||
||Fundraising
and publicity|9|5,387||5,387|9,255|1,172|10,427|
||Trading company|3|143,337||143,337|271,213||271,213|
||Charitable
activities|10|375,763|476,098|851,861|388,199|622,099|1,010,298|
||Total expenditure||524,487|476,098|1,000,585|668,667|623,271|1,291,938|
||Net income/(expenditure)||(25,320)|(227,413)|(252,733)|65,697|(9,215)|56,482|
||Transfers between funds||8,596|(8,596)||(4,977)|4,977||
||Net movement
in funds||(16,724)|(236,009)|(252,733)|60,720|(4,238)|56,482|
|i|Reconciliation
offunds:||||||||
||Total funds brought forward||1,362,556|1,673,004|3,035,560|1,301,836|1,677,242|2,979,078|
||Total funds carried forward||1,345,832|1,436,995|2,782,827|1,362(556|1,673,004|3,035,560|
##
||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|
||||||2021|2020|2021|2020|
|||||Notes|f|f|f|f|
||Fixed assets||||||||
||Intangible
assets|||14|||||
||Tangible assets|||15|2,347,398|2,575,336|2,303,022|2,515,022|
||Heritage assets|||16|10,000|10,000|10,000|10,000|
||Investments|||17|||100|100|
||||||2,357,398|2,585,336|2,313,122|2,525,122|
||Current assets||||||||
||Stocks||||12,078|16,138|||
|j|Debtors|||18|15,643|175,323|43,375|206,418|
||Cash at bank and in hand||||614,998|598,851|590,801|570,658|
||||||642,719|790,312|634,176|777,076|
||Creditors: amounts||falling||||||
||due within one year|||19|(217,290)|(339,658)|(182,389)|(283,222)|
||Net current assets||||425,429|450,654|451,787|493,854|
||Provisions for|liabilities||||(430)|||
||Net assets||||2,782,827|3,035,560|2,764,909|3,018„976|
||Funds||||||||
||Unrestricted
funds||||987,132|1,005,190|987,132|1,005,190|
||Restricted
funds|||20|1,436,995|1,673,004|1,436,995|1,673,004|
||Revaluation
reserve||||340,782|340,782|340,782|340,782|
||Non Charitable|Trading|funds||17,918|16,584|||
||Total funds||||2,782,827|3,035,560|2,764,909|3,018,976|
##
##
|for the year ended 2g'" February 2021|for the year ended 2g'" February 2021|for the year ended 2g'" February 2021|||||
|---|---|---|---|---|---|---|
||||||Group|Group|
||||||2021|2020|
|Cash flows from operating|activities:||||||
|Net cash provided
by (used|in) operating||activities||46,884|327,330|
|Cash flows from investing
activities:|||||||
|Interest income|||||432|1,452|
|Purchase of fixed assets|||||(31,169)|(357,957)|
|Sale offixed assets||||||575|
|Net cash provided
by (used|in) investing||activities||(30,737)|(355,930)|
|Increase/(decrease)
in cash and cash||equivalents||in the year|16,147|(28,600)|
|Cash and cash equivalents|at 1March|2020|||598,851|627,451|
|Cash and cash equivalents|at 28 February||2021||614,998|598,851|
|Net income/expenditure
for the reporting||period|||(252,733)|56,482|
|Depreciation
and impairment|||||252,756|254,457|
|Income from investments|||||(432)|(1,452)|
|Loss on disposal offixed assets|||||6,351|(575)|
|(Increase)/Decrease
in stocks|||||4,060|(3,868)|
|Decrease/(Increase)
in debtors|||||159,680|307,087|
|(Decrease)/Increase
in creditors|||||(122,368)|(285,231)|
|Increase/(Decrease)
in provisions
for liabilities|||||(430)|430|
|Net cash provided
by (used|in) operating||activities||46,884|327,330|
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|Profit and Loss|Account|||2021|2020|
|---|---|---|---|---|---|
|||||6|6|
|Turnover||||77,868|276,161|
|Cost ofsales||||(118,273)|(242,448)|
|Gross Profit||||(40,405)|33,713|
|Sundry income||||14,860|14,907|
|Grant from parent charity||||51,958||
|Overheads||||(25,494)|(28,335)|
|Net profit/(loss)|before|tax||919|20,285|
|Amount
gifted|to The Museum||ofArmy Flying Limited|(15)|(60)|
|Profit/(loss)
for|year before taxation|||904|20,225|
|Taxation||||430|(430)|
|Retained
profit/(loss)
for the period||||1,334|19,795|
|Retained
profit|brought|forward||16,584|(3,211)|
|Retained
profit|carried|forward||17,918|16,584|
|Called up Ordinary
Share Capital||||100|100|
|Capital and reserves||||18,018|16,684|
##
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##
|||||Unrestricted|Restricted|2021|2020|
|---|---|---|---|---|---|---|---|
|||||funds|funds|Total|Total|
||||||f||E|
|Grant
in|Aid||||61,696|61,696|76,550|
|Services|provided|by Ministry of Defence|||71,571|71,571|71,571|
||||||133,267|133,267|148,121|
|Other grants and||donations:||||||
|General|donations|||36,381|120|36,501|19,180|
|Coronavirus
Job Retention|||Scheme|130,778||130,778||
|National|Lottery Heritage||Fund||114,912|114,912|428,225|
|Test Valley Borough Council||||17,571||17,571|25,000|
|Project|Eagle general donations||||||11,338|
|||||184,730|115,032|299,762|483,743|
##
|||Unrestricted|Restricted|||
|---|---|---|---|---|---|
|||funds|funds|2021|2020|
||||E|f|f|
|Legacies||98,549||98,549|3,003|
|||%L549||98,549|3,003|
|All the income for 2020 were unrestricted|funds|||||
##
|Activiti|es for g|enerating
funds|||||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|||
||||funds|funds|2021|2020|
||||f|E|E|E|
|Museum|Admissions||90,370||90,370|257,321|
|Gift aid|tax claimed||12,621||12,621|35,556|
|Hire of museum||facilities|7,445||7,445|31,238|
|Special events|||9,943||9,943|17,739|
||||120,379||120,379|351,623|
##
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##
|||||Unrestricted|Unrestricted|Restricted|||
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|2021|2020|
||||||E|f|f|f|
|Dividends|and interest||||46|386|432|1,452|
||||||46|386|432|1,452|
|In 2020E1,132were restricted||funds with|6320 being|unrestricted|funds||||
|Other incoming resources|||||||||
|||||Unrestricted||Restricted|||
||||||funds|funds|2021|2020|
||||||||f|E|
|Museum|&Galleries Exhibition|Tax Relief|(MGETR)||2,735||2,735|69,469|
||||||2,735||2,735|69,469|
|All the income for 2020were||unrestricted|funds||||||
##
##
||||Unrestricted|Restricted|||
|---|---|---|---|---|---|---|
||||funds|funds|2021|2020|
||||||E|E|
|Shop|and restaurant|expenses|143.337||143,337|271,213|
|Event|Expenditure||5,387||5,387|154|
||||148,724||148,724|281,640|
##
##
|||||Unrestricted|Restricted|||
|---|---|---|---|---|---|---|---|
|||||funds|funds|2021|2020|
|||||E||E|E|
|Staff costs||||236,646|64,747|301,393|294,363|
|Costs paid by Ministry of|||Defence||71,571|71,571|71,571|
|Staff training||||250||250|418|
|Development||project costs|||114,581|114,581|276,067|
|Memorial
wall costs|||||300|300|510|
|Repairs and|maintenance|||13,010|1,404|14,414|25,668|
|Computer
expenses||||17,646||17,646|11,263|
|Hire of plant||and machinery||6,108||6,108|2,914|
|Travel and subsistence||||245||245|1,124|
|Unattributable||VAT||8,257||8,257|7,222|
|Professional||fees||10,554||10,554|12,601|
|Depreciation||||28,323|208,495|236,818|238,435|
|Loss on disposal offixed|||assets|6,351||6,351|(575)|
|Other costs|||||||731|
|Office costs||||12,210||12,210|16,534|
|Advertising|&promotion||costs|10,189|15,000|25,189|27,309|
|Governance||and support|costs|25,974||25,974|25,749|
|||||375,763|476,098|851,861|1,010,298|
##
|||Governance|||
|---|---|---|---|---|
|||costs|2021|2020|
||||E|E|
|Staff costs||19,860|19,860|20,606|
|Auditors|remuneration|3,500|3,500|3,500|
|Costs of|Trustees meetings|782|782|86|
|Bank charges and interest||1,832|1,832|1,557|
|||25,974|25,974|25,749|
##
##
##
||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||||E|E|
|Auditors'
remuneration||—audit ofthe financial statements|||||3,500|3,500|
|Auditors'
remuneration||—other fees:|||||||
|- Preparation|ofstatutory||accounts|and payroll|||5,445|5,143|
|—Taxation services|||||||265|520|
|-Consultancy|and advice||regarding|VAT and other charity matters,|including|MGETR|2,080|3,160|
||||||||7,790|7,158|
|Employees|||||||||
||||||||2021|2020|
||||||||E|E|
|Employee costs|||||||||
|Wages and salaries|||||||329,643|351,815|
|Social security|costs||||||16,219|27,422|
|Pension costs|||||||6,796|7,303|
||||||||352,658|386,540|
##
||||2021|2020|
|---|---|---|---|---|
|Management||staff|11|11|
|Museum|staff||24|27|
|||||38|
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|Group and charity|||||vvebsite|vvebsite|Total|
|---|---|---|---|---|---|---|---|
|||||||f|f|
|Cost||||||||
|At 1March 2020|||||24,|294|24,294|
|At 28 February 2021|||||24,294||24,294|
|Amortisation||||||||
|At 1March 2020|||||24,|294|24,294|
|Charge for the year||||||||
|At 29 February 2021|||||24,294||24,294|
|Net book values||||||||
|At 29 February 2021||||||||
|At 28 February 2020||||||||
|Tangible fixed assets||||||||
|Group
Leasehold|Property|Shop &Kitchen|Museum|Displays|Heritage|||
|&Improvement||Equipment|&Equipment||Assets||Total|
||f|f||f|f||f|
|Cost||||||||
|At 1March 2020|1,518,710|135,368||1,756,224|10,000||3,420,302|
|Additions|2,252|||28,917|||31,169|
|Transfers
between categories||||||||
|Disposals|(38,138)|||(13,780)|||(51,918)|
|At 28 February 2021|1,482,824|135,368||1,771,361|10,000||3,399,553|
|Depreciation||||||||
|At 1March 2020|394,029|75,054||365,883|||834,966|
|Charge for the year|19,554|15,938||217,264|||252,756|
|Eliminated
on disposal|(31,787)|||(13,780)|||(45,567)|
|At 28 February 2021|381,796|90,992||569,367|||1,042,155|
|Net book values||||||||
|At 28 February 2021|1,101,028|44,376||1,201,994|10,000||2,357,398|
|At 28 February 2020|1,124,681|60,314||1,390,341|10,000||2,585,336|
##
##
|e year ended 28|th February 20|21||||||
|---|---|---|---|---|---|---|---|
|Charity||Leasehold|Property|Museum|Displays|Heritage||
|||&Improvement||&Equipment||Assets|Total|
||||f||f||f|
|Cost||||||||
|At 1March 2020|||1,518,710||1,756,224|10,000|3,284,934|
|Additions|||2,252||28,917||31,169|
|Transfers
between|categories|||||||
|Disposals|||(38,138)||(13,780)||(51,918)|
|At 28 February 2021|||1,482,824||1,771,361|10,000|3,264,185|
|Depreciation||||||||
|At 1March 2020|||394,029||365,883||759,912|
|Charge for the year|||19,554||217,264||234,200|
|Eliminated
on disposal|||(31,787)||(13,780)||(45,567)|
|At 28 February 2021|||381,796||569,367||948,545|
|Net book values||||||||
|At 28 February 2021|||1,101,028||1,201(994|10,000|2,313,022|
|At 28 February 2020|||1,124,681||1,390,341|10,000|2,525,022|
##
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##
||||Charity|Charity|
|---|---|---|---|---|
||||Unlisted|Total|
||||E||
|Market|value|or cost at 28 February 2021|100|100|
|Historic|cost|at 28 February 2020|100|100|
|Market|value|or cost at 28 February 2021|100|100|
|Historic|cost|at 28 February 2020|100|100|
##
|The compan|y
holds 2|0%or m|ore ofthe sh|are capital oft|he following companies:|||
|---|---|---|---|---|---|---|---|
||||||||Proportion|
|||||Nature of||Shares held|ofshares|
|Company||||business||class|held|
|Army
Flying|Museum|Trading|Company|Commercial|activities ofthe parent|Ordinary|1009o|
|Limited||||company||||
##
|Debtors||||||
|---|---|---|---|---|---|
|||Group|Group|Charity|Charity|
|||2021|2020|2021|2020|
|||E|E|E|E|
|Amounts|due within 1year:|||||
|Trade debtors||2,037|3,242|2,037|3,242|
|Other taxes and social security||7,538||7,538||
|Other debtors|||4,691||4,691|
|Accrued|income|2,735|166,581|2,735|166,581|
|Prepayments||3,333|809|3,333|809|
|Amount|owed by group undertakings|||27,732|31,095|
|||15,643|175,323|43,375|206,418|
##
##
|within one year||||||||
|---|---|---|---|---|---|---|---|
||||Group|Group|Charity||Charity|
||||2021|2020||2021|2020|
||||E|E||||
|Trade creditors|||15,370|21,685||15,248|16,046|
|Other taxes and social security||||11,826|||11,826|
|Other creditors|||153,465|153,530|151,981||151,725|
|Accruals|||48,455|152,617||15,160|103,625|
||||217,290|339,658|182,389||283,222|
|Restricted funds||||||||
|||1March 2020|Incoming|Outgoing|Transfers|28 February 2021||
|||E|E|E||E|E|
|Grant
in aid||8,620|61,695|(64,745)|||5,570|
|Ministry of Defence services provided|||71,571|(71,571)||||
|Heritage
&Archive appeal|fund|1,283|||||1,283|
|Project Eagle development|fund|1,653,402|90,420|(323,079)|||1,420,743|
|Memorial
Garden &Wall|fund|4,732||(300)|||4,432|
|Cannon
display fund||4,472|||||4,472|
|National
Lottery Heritage|Fund||25,000|(16,404)|(8,596)|||
|Emergency||||||||
|Other restricted
funds||495|||||495|
|||1,673,004|248,686|(476,099)|(8,596)||1,436,995|
|||1March 2019|Incoming|Outgoing|Transfers|29February 2020||
|||E|E|E|E||E|
|Grant in aid|||76,550|(67,930)|||8,620|
|Ministry of Defence services provided|||71,571|(71,571)||||
|Heritage
&Archive appeal|fund|1,283|||||1,283|
|Project Eagle development|fund|1,664,476|465,935|(481,986)|4,977||1,653,402|
|Memorial
Garden 8 Wall|fund|5,242||(510)|||4,732|
|Cannon
display fund||4,472|||||4,472|
|Other restricted
funds||1,769||(1,274)|||495|
|||1,677,242|614,056|(623.271)|4,977||1,673,004|
##
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||||||Tangible|Net Current|Provisions for|||
|---|---|---|---|---|---|---|---|---|---|
|||||Fixed Assets||Assets|Liabilities|2021|2020|
||||||E|E|6|E|f|
|Unrestricted||funds|||1,123,725|204,189||1,327,914|1,34S,972|
|Restricted|funds||||1,189,397|247,598||1,436,995|1,673,004|
||||||2,313,122|451,787||2,764,909|3,018,976|
|Non charitable|||trading funds||44,276|(26,358)||17,918|16,584|
||||||2,357,398|425,429||2,782,827|3,035,560|
|Included|in|the|above figures|is the revaluation|reserve:|||||
|Revaluation||reserve||||340,782||340,782|340,782|
||||||Tangible|Net Current|Provisions for|||
|||||Fixed Assets||Assets|Liabilities|2020|2019|
|||||||||6|6|
|Unrestricted||funds|||1,147,326|198,646||1,345,972|1,305,047|
|Restricted|funds||||1,377,796|295,208||1,673,004|1,677,242|
||||||2,525,122|493,854||3,018,976|?,982,289|
|Non charitable|||trading funds||60,214|(43,200)|(430)|16,584|(3,211)|
||||||2,585,336|450,654|(430)|3,035,560|2,979,078|
|Included|in|the|above figures|is the revaluation|reserve:|||||
|Revaluation||reserve||||340,782||340,782|340,782|
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|Analysis ofchanges|Analysis ofchanges|in net funds||||
|---|---|---|---|---|---|
|Group|||Opening|Cash|Closing|
||||balance|flows|balance|
||||E|E||
|Cash at bank and|in hand||598,851|16,147|61.4,998|
|Net funds|||598,851|16,147|614,998|
|Charity|||Opening|Cash|Closing|
||||balance|flows|balance|
||||E|E||
|Cash at bank and|in hand||570,658|20,143|590,801|
|Net funds|||570,658|20,143|590,801|
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|The carrying amounts
ofthe|The carrying amounts
ofthe|charity's|financial|financial|instruments|are as follows:|||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||6|6|
|Financial assets|||||||||
|Debt instruments|measured|at amortised||cost:|||||
|-Trade debtors (note 18)|||||||2,037|3,242|
|—Other taxes and|social security (note 18)||||||7,538||
|—Other debtors (note 18)|||||||2,735|4,691|
||||||||12,310|7,933|
|Financial liabilities|||||||||
|Measured
at amortised cost:|||||||||
|—Trade creditors|(note 19)||||||15,370|21,685|
|-Other taxes and|social security (note 19)|||||||11,826|
|-Other creditors|(note 19)||||||153,465|153,530|
||||||||168,835|187,041|
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