2020-12-31-accounts

Trustees		D Coxon
		D Hooley
		K Shepherd
		D Smith
		BThompson
		RJones
		P Stokes
Secretary		J Warren
Charity number		299327
Company	number	02206865
Registered	office	Tangmere Airfield
		Chich ester
		West Sussex
		PO20 2ES
Auditor		Watling & Hirst Limited
		Cawley Place
		15Cawley Road
		Chichester
		West Sussex
		PO19 1UZ
Bankers		Lloyds Bank pic		CAF Bank
		East Street		24 Kings		Hill Avenue
		Chichester		Kings	Hill
		West Sussex		West	Mailing
		PO19 1HJ		Kent
				MR194JQ
Solicitors		Stone King LLP
		91 Charterhouse	Street
		London
		EC1M 6HR
Investment	advisors	Sanlam UK Limited
		Exchange Building
		St.Johns Street
		Chich ester
		West Sussex
		PO19 1UP

			Page
Chairman's	Report
Trustees'	report
Statement	oftrustees'	responsibilities
Independent auditor's		report
Statement	offinancial	activities	10
Balance sheet
Statement	ofcash flows		12
Notes to the financial		statements	13 ~ 24

				Unrestricted	Unrestricted	Total	Unrestricted	Unrestricted	Total
				funds	funds		funds	funds
				general	designated		general	designated
				2020	2020	2020	2019	2019	2019
			Notes	6	f		6
Donations and legacies			3	101,317		101,317	49,402		49,402
QIt~ri Itjlilcctiivi	i	s
Museum entrance		fees		44,568		44,568	220,213		220,213
Investment income				67,917		67,917	88,474		88,474
Rent receivable				1,100		1,100	5,688		5,688
Total income				214,902		214,902	363,777		363,777
Raising funds			7	9,783		9,783	11,565		11,565
~hri a~le giiivi	ies
Museum			6	158,320		158,320	222,075		222,075
Total charitable	expenditure			158,320		158,320	222,075		222,075
Total resources
expended				168,103		168,103	233,640		233,640
Net gains/(losses)		on
investments			11	(11,619)		(11,619)	276,375		276,375
Net movement	in	funds		35,180		35,180	406,512		406,512
Fund balances at 1
January 2020				1,444,832	3,000,000	4,444,832	1,038,320	3,000,000	4,038,320
Fund balances	at	31
December 2020				1,480,012	3,000,000	4,480,012	1,444,832	3,000,000	4,444,832

										2020		2019	2019
						Notes				6	6
Fixed assets
Tangible assets							13				650,460		663,254
Heritage assets							12				117,300		105,300
Investments							14				3,538,448		3,492,340
											4,306,208		4,260.894
Current assets
Stocks							15		13.069		9,231
Debtors							16		64,749		15,975
Cash at bank and	in	hand							109,717		170,611
									187,535		195,817
Creditors: amounts		falling due within
one year							17		(13,731)		(11,879)
Net current assets											173,804		183,938
Total assets less	current			liabilities							4,480,012		4,444,832
Income funds
Unrestricted funds	-	designated									3,000,000		3,000,000
General unrestricted		funds									1,480,012		1,444,832
These financial statements have been subject to the small companies regime. The financial statements were approved						prepared hy th 't		in t	4,480,012 accordance with the provisions applicable to xrr4cssp .'shtNt.				4,444,832 companies

				2020		2019
			Notes	f		8
Cash flows from operating		activities
Cash (absorbed by)/generated		from	23
operations					(32,682)
Investing activities
Purchase oftangible fixed assets				(26,402)		(61,653)
Purchase ofheritage assets				(12,000)
Purchase of investments				(3,909,413)		(1,545,535)
Proceeds on disposal of investments				3,851,686		1,469,372
Interest received				67,917		88,474
Net cash used in investing		activities			(28,212)
Net cash used in financing		activities
Net (decrease)/increase in	cash and		cash
equivalents					(60,894)
Cash and cash equivalents	at beginning		ofyear		170,611
Cash and cash equivalents		at end of	year		109,717

			Museum	Museum
			entrance	entrance
			fees	fees
			2020f	2019 6
Museum	entrance fees		44,568	220,213
Donations		and legacies
			2020	2019
Donations		and gifts	5,600	18,443
Legacies	receivable		50,000	2,324
Government		grant	25,000
Membership		fees	7,298	11,646
Deed ofcovenant			13,419	16,989
			101,317	49,402

		Unrestricted	Unrestricted
		funds	funds
		general	general
		2020f	2019 F
Income	from listed investments	67,510	87,729
Interest	receivable	407	745
		67.917	88,474

2020 6	2019f
1,100	5,688

					Museum	Museum
					2020f	2019f
Depreciation and		impairment			22,396	15,125
Rates and water					1,993	6,408
Light and	heat				6.489	7,661
Advertising					8,961	19,764
Travelling	expenses				7,158	20,669
Insurance					11,420	10,788
Printing,	postage	& stationery		(stock adjusted)	1,958	13,106
Website	development		costs		144	360
Maintenance and		repairs			32,119	52,461
Exhibition	display	and	transport costs		8,205	8,943
Miscellaneous					2,342	4,685
Security	costs and equipment			rental	2,387	7,890
Talking Tangmere						3,308
Memorial	garden					117
					105,572	171,285
Share of	support	costs (see note 8)			29,646	30,280
Share of	governance		costs (see note 8)		23,102	20,510
					158,320	222,075
Raising	funds
					2020	2019
Investment management					9,783	11,565
					9,783	11,565

8	Support costs	Support costs
			Support	Governance	2020	Support	Governance	2019
			costs	costs		costs	costs
			E	E	E	E	E
	Depreciation		16,800		16,800	13,602		13,602
	Telephone		4,652		4,652	5,285		5,285
	Bank charges	& interest	1,047		1,047	2,438		2,438
	Canteen &cleaning		5,601		5,601	6,110		6,110
	Miscellaneous		1,546		1,546	2,845		2,845
	Audit fees			7,840	7,840		7,500	7,500
	Accountancy			3,200	3,200		3,100	3,100
	Legal and professional			12,062	12,062		9,910	9,910
			29,646	23,102	52,748	30,280	20,510	50,790
	Analysed between
	Charitable activities		29,646	23,102	52,748	30,280	20,510	50,790

Heritage assets
	Total
	E
At 1 January 2020	105,300
Purchases	12,000
At 31 December 2020	117,300

Five year summary
	2020	2019	2018	2017	2016
	E	E	E	E	E
Cost brought forward	105,300	105,300	30,300	30,300	30,300
Purchases	12,000		75,000
Cost carried forward	117,300	105,300	105,300	30,300	30,300

13	Tangible fixed assets	Tangible fixed assets
				Improvement	Fixtures and Motor vehicles		Total
				to freehold	fittings
				property
				8
	Cost
	At 1 January	2020		780,777	88,721	13,888	883,386
	Additions				26,402		26,402
	Disposals			(9,334)			(9,334)
	At 31 December 2020			771,443	115,123	13,888	900,454
	Depreciation	and impairment
	At 1 January	2020		160,624	47,938	11,570	220,132
	Depreciation	charged	in the year	14,165	16,800	580	31,545
	Eliminated in	respect ofdisposals		(1,683)			(1,683)
	At 31 December 2020			173,106	64,738	12,150	249,994
	Carrying amount
	At 31 December 2020			598,337	50,385	1,738	650,460
	At 31 December 2019			620,153	40,783	2,318	663,254

			Listed	Cash in	Other	Total
			investments	porffolio	investments
			6
	Cost or valuation
	At 1 January 2020		3,319,791	172,449	100	3,492,340
	Additions		3,909,413	3,820,279		7,729,692
	Valuation changes		193,429			193,429
	Disposals		(3,957,817)	(3,919.196)		(7,877,013)
	At 31 December 2020		3,464,816	73,532	100	3,538,448
	Carrying amount
	At 31 December 2020		3,464,816	73,532	100	3,538,448
	At 31 December 2019		3,319,791	172,449	100	3,492,340
					2020	2019
	Other investments	comprise:		Notes	6	6
	Investments in subsidiaries			21	100	100
15	Stocks
					2020 8	2019f
	Finished goods and goods for resale				13,069	9,231
16	Debtors
	Amounts falling due within one year:				2020 f	2019f
	Other debtors					6,000
	Prepayments and	accrued income			64,749	9,975
					64,749	15,975

Creditors: amounts f	alling due within one year
		2020f	2019 6
Trade creditors		1,085	1,179
Accruals and deferred	income	12,646	10,700
		13,731	11,879

		Movement		Movement
		in funds		in funds
	Balance at	Incoming	Balance at	Incoming	Balance at
1	January 2010	resources1	January 2020	resources	31 December
					2020
			6		6
	3,000,000		3,000,000		3,000,000
	3,000,000		3,000,000		3,000,000

Analysis o	f net assets	between funds
		Unrestricted	Designated	Total	Unrestricted	Designated	Total
		funds	funds		funds	funds
		2020	2020	2020	2019	2019	2019
		6	6	6		6	F
Fund balances at 31
December	2020 are
represented	by:
Tangible assets		650,460		650,460	663,254		663,254
Heritage assets		117,300		117,300	105,300		105,300
Investments		538,448	3,000,000	3,538,448	492,340	3,000,000	3,492,340
Current assets/
(liabilities)		173,804		173,804	183,938		183,938
		1,480,012	3,000,000	4,480,012	1,444,832	3,000,000	4,444,832

23	Cash generated from operations	Cash generated from operations	Cash generated from operations			2020	2019
						E	6
	Surplus for the year					35,180	406,512
	Adjustments for:
	Investment income recognised		in statement		offinancial activities	(67,917)	(88,474)
	Loss on disposal of	tangible fixed assets				7,651
	Loss on disposal of	investments				205,048	14,701
	Fair value gains and	losses on	investments			(193,429)	(291,076)
	Depreciation and impairment oftangible			fixed assets		31,545	28,727
	Movements in working capital:
	(Increase)/decrease	in stocks				(3,838)	3,408
	(Increase) in debtors					(48,774)	(7,147)
	Increase in creditors					1,852	407
	Cash (absorbed by)/generated		from operations			(32,682)	67,058