##
##
|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|
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|||||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|
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|||||||||||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|
##
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|||||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||
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||||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|
##
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##
||||||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|
##
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|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|
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|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|
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|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|
##
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|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|
##
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|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|