C￿rIty reglstratlon number 299327
CompAny wlstr4tlon numbèr 02206865 (England wid Wal68}
TANGMERE MILrrARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
Mr P F Constsble
Mr D Hooley
Dr J H Trevor
Mr T D M Plalton
Mr P S Dav15
Mr P Herbert
MrFBGd9Beer
Miss D J M Randal
Mrc Smart
(Appointed 26 Sèptember 2024)
{Appolnted 26 Septèmber 2024}
(Appoint￿ 26 Septwnbgt 2024)
S•¢r•tsry
Mrs M S Kool
ChaTIty numbèr
299327
Company number
02206885
R¢gltst•rnd offlcg
Tangmere Museum
Gamecod( Terraco
Tangmère
Chkh8stsr
P020 2ES
Audltor
kloorè (South) LLP
CSty Gates
2- 4 So¥Jlhgat
Chlchestsr
West Sussgx
P019 8DJ
8bnkgrn
CAF Bank Umlted
24 Kings Hlll Avenue
lang8 Hlll
W8St M8lllng
ME19 4JQ
Lloyds Bank PIC
10 East street
CNthestsr
West Su888X
P019 1HJ
Sollcltors
Stone lang LLP
Boundary Hou$0
91 Charterhouse Streel
London
EC1M eHR

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Chalmi8n'8 $t8tomant
Twsteas, rep)rt
Sta19ment otlnJst8es' respJn8lbilitle¥
In*8ndont auditorf$ report
stalement off￿an￿81 advlll88
10
Balance sheet
11
Notes to tho ffnanclal statsments
12-25

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
1.1 can repcffi fhatour w8ttor numb8rs In 2024 were 28.910 Compar￿ wlth 30.470 In 2023.
2. In 2024, we held an Open Cod(plt and D Day Evont whlch was muth enJoyod by 811 vl8ltors.
3. In tha ¢uffant year wo ar8 Pteased that we have tu date been ablo to hold e VKtory BO Event whon w8 welGomed
almost I.(￿ ￿sItOrs.
4. The ambi￿On lo devgyop and Improve Museum facililies conllnues. 11 1$ hopgd thel $uble¢l to receiving 8
IlmBly Flanning wnsent thal the next stage can conWnu8 over the usual winter dosgvdown pgrl¢xl.
5. The finania81 ¢ondMton of Iho Museum eonllnues lo bg strong wh*h prov]de8 the OFWrtunity lo a￿UIr0 ralevant
artefacts which may b8￿m0 ovallablè.
6. Flnalty, on behalf of fhe Tw5t Council I want to thank the many volunts•r8 havo supported the Museum
Ihroughout the past year and lor their contlnued fvture supporL The amount of talant and d￿l¢of10n cannot ba
overstated. On behalf ol the Trust Council, l thank them all.
TDMHatton
Ch&lmian
Dal8: .

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Thg trust89S Ptasonl their anFwJal report and finan￿1 Statements for th¢ ygar anded 310ecember 2￿24.
Th? IInHn￿•I stotemenl$ havg been prepor&J in #ccord8nce vhth tho att￿ntIng pojlciès sat out In not8 1 to th
ftnanci81 stalemenls and comply wtth the chariVs Memorandum and Artide3 of A550ciation, Iha Companles Act
2006 and "Acu)untlng and Rèportlng by Charities: Statement of Recommended Pr8¢tiC8 aprAi¢8ble to charftte5
preparing their accounts In amdanc8 Wtth the Flnandal Reportlng Standard appli¢ab16 In the UK 8nd Republic of
Ireland IFRS 102). leffath 1 January 20191.
objèct1￿5 and actlvttl
The charrty is prlncipalty engaged In 8dvandng IhB gducayon of Iha publlc by th8 dlBplay of alr¢rafi, milltary
equlpmènl and ortefacts relating to military avjation hislory.
Tho ¢hariV$ otyg¢Uves are setout In the Memorandum ofA89thJatton and #rè 88 faltows:
o adv8n¢e th& odur*Uon of the publlc by the ￿lStrUctiOn aFKt provtslon Df a Museum fot the wknlic dlspiay of
alrcraft and 88ron8uIIcAI 8qulpm8nt and other items related lo ￿a￿on and a￿allOn hlslory."
Th8 twsle88 conffirm Ihat Ihey have pald duo regard to the guldance glv8n by Iho Charlty Commlsslon on publc
bgnefit.
Th& Museum axlsts to promote awaM6ss of the UK nllitary avlalon herltaya and to odu¢ate prosgnt and future
generaUon8 In mllltary aviatron by..
Exhlbhlng tho hi¥tvry of thg &lrtr8ft ￿ personnel Involved In rn11￿ary aviation wilh part￿￿tar reféreno8 to
RAF Tangmer8 and its unique place #) that hlsiory.
Servtng as a m8morial to those alH•d 8th•n and aIN￿m￿n who gavo thelr Ilves In the 5ervlc& of Ihi
county.
Tho Musaum alms ara to:
. Socuro and ¢on58rvg all art¢facts Ihot together fc￿ the collectlon.
Present and amhibli •rtefaci8 In 8 r8spècUul mann•r for thg ￿uc￿tiOn ofvisitors.
and revlew the operallon a vlew to Fnsvring a kJng-leTm futu￿.
Malntaln a strong sense of cornmltment and partnership 8mong81 all voluntsern and to dwelop t￿1r skills
and ablllues In the interests of excellence.
Buld and maintain 8pproprf8ts Ilnks ￿ othar r8levanl organisations.
In d8livering these alm8, the MuBeum18 ¥taffed gnknroly by volunts9rs. Mgmb¢r¥ of staff wort( aw88 0 w(de range
of activities Indudlng vl8itor 8ervke8, curalTng Ihe coll$¢11￿, education. 8pecial events and gnglneortng.
Tho trustgas have pald due regard to guldance issued by lh8 Chartty Commls$lon In deddlng what aetim￿•S thg
¢hartty sh￿￿d undartakè.
Achlthwntnts and p¢rfomJanc•
Tho Museum anjoys a Strong Iln&ndal coTrJltksn with an adequate cash poslticm.
The Museum coThth)ue8 to attrxrt hlgh qualty voluntoars to sustaln tha of tha Trust

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Mu$*um Collecllon
During 2024 and the yearto dats thg Curatorial team have been bu8y rgfr88hlng dlBpla
Tho tru¥ts8& ￿11 ￿nIInUe lo add to the collection relevant artefacts when they be¢ome avallabl¢.
The Museum is fulty acoredlt8d and is r•qulred perlod1¢￿I1Y to ré4pply for wistrafion. The team
responslble have be¢n engaged In prepabln9 Ihe extgn8fve thJuJm•ntallon.
Bulldlng$ 8nd $ll¢ malnfenan¢e
Th8 davalDpm&nt plan ha$ baen in traln lor ￿me lime. Unfortunately. th8 Museum Is dopendonl upon land bglNJ
madg avallable by other8. A planning application has been submtited In order to Incr&a8e 8nd improve vfsltor
faclltues The approval Is awatted In order that the that th& work can be carrlad out durfng the n8xI dosedown perfod.
Stsff Tr#lnlng
The Museum is (except foi one 8mrAoye8) stAffod 6nUr¢ly by volw)leof8. All appllcan18 undertake an
inductlon process whlch Indudas safaty Infomallon, pclwAes. and prrxedures. Gltldes are prO￿ded w6th
detai18d InforMa￿On on the Museum exhlbrts.
FirslAd tralnlng18 providgd.
The Mustsum h88 an ongolng programme for fire tsalnlng.
Worklng wlth schools
The Musèum h8s A dedicatéd 8du¢8lon ts8m whl¢h provldes a number oflh8med programmes desbJned to Interg*
the various $ge grou￿. Pgrhap3 due to Ihe pres8UTe8 of the School ￿rri￿J1um, the numb&r of school8 bolng able to
Mllo¢ats Ilme tD such visits is limite(F. In addttron. the D)st oftsansport continues to have an effact
Flnanclal revlew
11 Is Ihg wllcy of the charfty that unr08tricted fundE whith havo noi baan d8stgngt8d for a 8pectfK use shoukl b&
maintained at a level equivalent to betsveen three- and six-month'g axp8nditur8. The tru81888 C0ft8id8r that r83eNes
at this18vel will ensure that. in the evenl of a slgnlfi¢ant drop in funding. they wll be able to continue the ch8rity8
currant actrvities while considerarfon 15 g￿en to ways In whlch addifjonal fund8 may be ralsed. Thls level of Teserves
has bgon Mainta￿ed thmughout the Y￿r.
Plans lor future p?Tlods
The charivs objectives for 2024 and 2025 ￿ a8 follow3..
To conlnua to provlde a prop8r hlstory ot the Tangmere airfield and thg RAF togethgr exhlblls whlch
11 be of Inlere¥l to vlsltors.
To 8e¢)Jra the fijture of the Museum by conflnulng to attract sultablg commlW volunt88rs.
To *c4uir8 relevant 0rt8facts and dlsplAy In an 8pproprfate mannèr.
To develop and Improv8 tha vlsltor f8dllllèB.
Structurni governance and management
Th8 charity i8 a company 11ml￿d by guarantee. The Trusts, gtsvemlng dowmenl Is the MamcY4ndum and Artldas of
A$socS8ti0n.

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(ACOMPANY LIMITED BY GUARANTEE)
TRUSTEE5' REPORT (INCLUDING DIRECTOR'S REPORn (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Th8 trusteos. who are also the directols for th& purp088 of company18w, and who seNéd during the year and up lo
Ihg date ol slgnature of the financial Sia18ments ￿re..
Mr FA Thomas
Mr P F Consf8bl8
Mr R ￿ne$
Mrs B M Thjmpson
Mr D HO￿8Y
Dr J H Trevor
MrTDMHatton
Mr P S Dav18
Mr P Hèrb8rt
MrFBCde8eer
Mlss O J M Randall
Mr C Sn*rt
{ResIgr￿d 28 September 2024)
{Reslgn8d 26 $8pt8mb8r 2024)
(ResIgn￿ 26 Soptember 2024}
(Appointed 26 SoptsmbÈr 20241
(Appolnkd 26 September 2024)
(Appointed 26 September 2024)
TTUSte8S are elected by a vote and Inllially 8orve for a perfcKI of three years. Tfustoes are ellglNe to put Ihemsthes
lorward for Ig-election al the nexiAGM fonow]ng thelr Ihree-year period.
New truste85 are maiJ¥ famillar wlth their legal obllga*on8 under charfty and company law, the contents of thg
Mgrnorandum and Articlts8 of As8od8llon, Iho committe& and declsion-making process and the fec4nt financAal
P8rfom18n¢e of th8 ¢h8rity. Tru8t•es are 8ncourAg8d to att8nd appropria18 extemal training events where the8e w￿[
fa￿lItate th8 undertaklng of the role.
Audltor
In accordance with th8 ¢ompanW3 arfdes, a r￿lu￿On prO￿{ng Ihat Moore {Southl LLP be reappc4ntgd as auditor
of th• ￿mpanY￿11 bB put al a General Meeling.
Dls¢losur• of Infomiatlon to audftor
Each of the twslees has confirmed that thBre Is nu informa￿On of whlch they are aware whlch 18 relgvanl to Ihg
audll. but of whlch the auditor is unaware. They have further conllrmed 1hal they have taken appTOPrt&te steps trj
1Igntty such r818vanl infom)aUon ond to e6tabll8h that the audltor Is aware of SLth Inforrnalion.
Thi3 rw ha5 been prepared In a¢(x)r(lance wlth the spedol provlslons of Port 15 of the CompaniesAct 2006
relating to small Lx)mpanl88.
Tha trustees, report was epproved by the Board ot Trustee8.
TDMHatton

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Th8 trustees, who ar8 also thg dlrectors of Tangmere Military Avi8Uon Museum Trust Limited foi the pvrpo¥B of
company law, arB responsible for preparfng the Trustees. Report and tho flnancjal sl8t8m8nts in accordance with
appllcable law and United Kiigdom Accounting Standard5 (Unhed lfjngdom Ggngrally Awplod Accounting
Practlca
Company Law requlres the tru6tses ID prepare ftnandal stslements for each ffinancial y8ar whl¢h glv8 8 true and fair
ew of th8 State of affai￿ of the charity and of the Incomlng resouices and applic4Uon of resour¢è8, Inejuthng th8
Incorno and 9xp8ndllurg. of the charftable company for th81 yBer.
In prop￿n9 th989 fln8nclo1 statements. the Iru$te88 are i¢qulred to:
- seleet sullable aceountlng polct8s and then apply them ￿nsIst￿nty.
- observe tha rnethods and wOn¢wles in th$ Charltles SORP.
- mako judgements and eslimates that 8r8 ro88onabl• and prudant.
- st8te ￿elher opplicable UK Accounting Stsndard8 have been followed. subled to any matsrfal departum8
dlsdo8od and axplaln8d in th8 financlal statemgnts; and
- Prepare financral slatements on thg going o)ncem basis unless il 18 inapproprfale lo presume Ihal th8 thorlty
will cLK)tinue in optrrafK)n.
The tnJstee6 are re8pon&ible for keeplng adequatg accountlng rgwrds ihat disdosa with reasonable ac¢ur8cy at
any time the fin8nclal position of the charity and enabl8 them to ensure that the financlal statements comply with th
Companies Act 2008. They are also r6SPDnslble for safeguarding the awts of the chorfty 8nd hence for takjr
Yeasonabio step$ for the prevention and detectlon offraud and othèr Irr8guladlgS.

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
Oplnlon
We have audtt8d the ffnandal statements ol T#ngmére Mlllt#ry A￿al￿on Museurn TTUSt Limlted (the '¢harfty) for th
year onded 31 D&c8mber 2024 which comprise the 8tatsmonl of ffinan¢Sal ath￿. Ihe balance sheet and not#s to
thè flnandal statÈm8nt5. including slgnificant accounlng pdIC￿$. The tlnondal repoTUng framework that has been
applled In their preparation Is applleAble law and United Klngdom Accounung Standards. tncluding Financlal
Reportlng Standard 102 The Flnan¢Aal Reporthg Standard 8ppTh¢abl8 In the UK and Repuhlle of Irelond Iunlted
langdom GenerallyAc¢eplod Ac¢ountlng Practica).
In our oplnbn, the finan￿81 3tatements:
glve a true and fair viow of th& sts16 of Iha tharltabla o)mp8nV$ affalrs as at 31 Decem￿r 2024 and of Its
Incomlng resour¢8s and appll¢aUon of resources, Induding its Income and expendlture, for the y6ar then
have bgen Pfoporfy prepared wi arxordonce wilh Unlted lQngdom Generally Accepted Arxounlng P￿ctIce.
and
ha￿ beèn p￿pared Sn a¢o)rdanc¢ wlth the Tequtrement8 of the Compani&8Aca 2(K)6.
Basls for oplnlon
We cE)nduct8d our ¥udll In 8eeordan¢o th IntemaUona Standards on Audlung (UK) (ISAS IUKI) and appllcable
law. Our responslbillues trrNSgr th05• standards ara further descdbed In the AIAlkorfs re8ponslbllilie8 for lh8 audlt ol
the t7nanGlal slatemenls section of our report. We ore Indep￿don1 of the charity in accordance wRh th8 ethlcal
requlTements that are relevant to our audit of the flnanclal statem6nts In the UK including the FRC8 Ethlcal
standard. and we have ftFlfilled our other e1hlcal r8sponslblllll89 In aceordgncg wth these requirements. We b811evo
Ihal the audlt evidence we have obtsined Is 8ufflclent and approprfot8 Iv provldo a basis for our oplnl¢)n.
Coneluslons r•lotlng to golng conc•rn
In audlling the flnanclal Stalen￿ntS, we have concludèd th8t the tnJsl803' use of th& golng C1)n¢￿ bast8 of
accounting in th8 PT8paration of the financial 8tatements18 appropdate.
Based on thè work we have pèrforyned. we have not Identiried any material uncert8inUes relating to events or
Conditior￿ that, indsvidually or collectively. may ￿$t slgnlflcanl doubl on the charW8 ability to continu8 as a going
concam for a period ofal least1we￿ months from whon th& flnandal Statements aré authorised f￿ issue.
Our responSI￿'11tie3 and the r88pon3lblllllg8 of the Irusloes wlth raspact to golng ¢oncgm are described in tho
relevant 88ctions of this repcwL
othèr Infomiatlon
The other inforniation comprfB88 thè infomi8llon Includ8d kn tho annual report other Ihark the flnancjal statements
and our audilorfs Teport thereon. Th8 trustees are re8ponslble for the other information contained within the annual
raport. Our opinlon on the finanoal statements dogs not cover the other information and, 8x(*pt lo the extent
oth8￿[$￿ gxpliatly stated In our report. we do not express any fomi of a8suianc8 CLM¢lu$ion ther￿n. Our
rssponsibilty is to rea(1 tho olher Infomatton and. In doing so, consider whether the other inlomation 18 matarialty
In￿nsIStentwth th8 finandal 8t8tsments or ottr kno￿edge obtained in the course of the audlt, or othe￿iSe appears
to bo m8t8rlally misstat8d. If wa Identlty such material inc4)nsisteno8s or apparent molerial misstatements we are
rèqulred to determine whelher Ih18 slves rise to a wnaterial mi¥stal8ment In tho fina￿la1 statements themselves. tf.
based on the Work wo have perfoTmed, we condud8 th8t there is a mat6rfal TYwsstst¢ment of thls ¢)ther Infomatitin.
we are requlred to report Ihatfact.
We have nothlng to report In thls regard.
Oplnlons on other mattern preser1￿d by th• Companlos Act 2006
n our opinK)n. ba$8d on thtr work undertaken Sn the course of our audit..
the tnfomiatlon given in the Iru5tees' report for Ihe Itnancial yèar for whith th¥ finontyal statements are
prepared. which Indudes th& dlrectors. report prepared for the purposes of comp8ny law, L8 conststent th the
flnan¢ial statements.. and
the dIrect￿S, report Includ￿ w4th1n tNsteBs' report ha8 been prepared in g¢rJJrdance with appllcable legal
Tequir8m8nts.

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
Mattgr8 on whlch wo are requlred to rgport by ox¢4pllr¥n
In the Ilght of thè kr￿wI￿dg8 and und8rstanding of the charity and Its envlronment oblalned in the course ol th8
audit, we have not identified rnaterfal mlsststements in the diw1o￿. ￿port induded wlhin the tru5t8és' ffjpo
We have nothlng to report in respect of th8 following maltorn in rel8￿On to which th8 Companies Act 2006 TequlT03
us to report to you il. In our opinlon..
adequate accounting r￿d8 have not been kept, or r0￿M$ adoquate for our audlt have not been re¢elved
frorn branche8 not vislted by us,. or
Ihe financial 8latemon18 are not In agraamant vAth th8 occounting records and retums.. or
certain disclosuw of Iwste￿. remuneratlon specffied by law are not made,. or
we have not r8ceiv8d all tho infomiation and explanation8 we require for our audit", or
the INstee$ were not enliljed lo prepare thè tlnandal stalemants In acc>)rdanc& th8 small companles
regime and t8ke advantage ofth8 smal ￿1MpanIes, ex0mp￿en5 In preparing the IrLsslees' report on¢J fvom the
reqviremenl to PTepare a strategic reporL
R¥sponslbllltl•s oltrusteo$
As explalned more )lJlly In the statement of tnJ8tees' reBponsibllities, the trustees. who are also the dlrs¢tors of the
charfty for th8 p￿￿oSe of company law. are responsible for the preparallon of Ihe financlal statements avKI for belny
satlsflEd Ihat they givo a IrLtè and fair view. and for such internal control as the Iruslees delemilne Is necessary lo
¢n&tsl¢ thg pr&p8raUM of financlal s18tgments that are free from materfal mlsstatement. whether due lo fraud or
error. In preparing tho fjnanoal statements, the trustees ar8 reSponsI￿e lor assesslng the charitys ability to
continue 8$ a going ￿nceM, dl8ct08ing, as ap￿1¢&bI8, mattèrs r8lal8d to golng concam and uslr¥J the golng
¢on¢em b8Si8 of a¢counUng un1088 tho trust8as althèr Intènd lo IlquIda￿ th8 charftabla company or lo cease
operaUon8. OT have no rea118Uc altsmallv8 but to dL¥ so.
Audltorfs rgsponslbllltlès forth¢ audn of the Ilnanclal 8Lthment8
Our obléctives are to oblain reasonable 8ssurdnc8 8bout whethér th8 llnandal slatemants 85 a who18 are free from
material misstaloment, whether due to fraud or error, and lo Issue an auditorfs report that Indudes our opinKJn.
Reasonabte assurance is a high level of assurance bul Is not a guarantee that an audlt conductsd In acwrdance
h ISAS (UK) will always dete¢t a mat&fjal mlsstatement when It exlsts. MIs5tatetnents can arise from fraud or
error and are consldered matertal If, Ind￿ldUallY or In the aggregate. they c4Juld reasonobly be expected lo InflU￿c8
th9 0(x)non￿¢ d8dslon$ of usèrJ taken on the basls ol these flnandel statemen
A furthèr dès¢rtplon of our r88pon8lbllltlès Is availab18 on thè Flnanclal R8wiin9 Coundl's ￿b5110 al.. htt￿.-IA
www.fr&crg.uklaudilorweBpon8ibililies. Thks description foms part ol our avditorfs r¢port.
The extent to whith wr procethjres are Gapable of d8tecling iffegularillgs, induding fraud, is detailed below.
ExplaDatlon ￿ to what èxtsnt th• •udlt was consld8r•d c&pabh of dotsctlng Irr•gularftl•s, Includlng fraud
Tha objectivès of our audit in rgspaot of fraud, are.. lo Ident*fy and assess the rtsks of malerfal mtsstalemenl of th8
flnanclol statemgnl$ dug to fraud.. to obtaln suffldent apprgpAate audlt evlden¢e regordlng the assessed risks of
matedal mlsstalem&nl t1uo to fraud, through deslgnlng ond IMpleMen￿n9 8PPfOPFlate responses lo hose asse58ed
skg,. and to re$ponsg 8pproprf8t6ly to Inst8nc6s of froud or suspect fraud Identtfied durfng the audit. How8v8r. the
prlm8ry r88pon81hlllty for th8 pr8venUon and d&t8dlon of fraud tests wllh both managomant #nd those charge8
governance ofthe charftable company.

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEEI
INDEPENDENT ALIDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
Our approach was as f￿lOW$..
The eng898mont partner $elgcted staff for the audit had appropriate knowledgo of th6 d18nl and
had the requirgd Competen￿ and skills lo be able to hlenlify or reco9nl80 non-complltyncg 18w$ a￿1
rogu1811on$.
We 858essed thg rlsk of lffegulathw as part of our audlt Fdannlng, and ongoing review. induding th080 due
to fraud. management override was Idgntiftpd as a $lgnhlcant ftaud rfsk. Thls is due to the abilty to byp8BS
controls through inappropriat8 8xp8ndllure and accounJng pollcies adopted.
Rev8nue iecognjllon was Ideniified as a SIgnM￿nt rf8k to ts audlt. th8re Is a rfsk thai salas are inCom￿ete
wtthln the accovnting reo)rd$.
We obtalned an underslanding of thè legal and wulatory requlremenls appllcablg lo thè ¢har￿ and we
consFdered tha most slgnifi(anl to be Charfles Act 2011, the Charlty SORP, and UK finand81 reporttng
standards as issued by the Flnandal Reporting Councll. We Considered how the charitablg eompany
complies wlh th¢se roqu1￿ments by dlsujsslons wfth management and those charged with 90￿m&n(￿.
We enquire(l of management and those charged wlth govemance as to any known instsrtces of Th)n-
fximpli8nl* 01 8uspe¢le¢l non-compllan(% wSth laws and r8gulaUon& ConsideratKJn was also mado of fhg
Intemal ¢onlrol8 In pla¢& lo mltigats tha Identlfted rfsks.
Wo asseBsed th8 control envlronmBnL dacumgnting the sysl£ms. controls and processes adopted. The
audit approach Incorporated a comblnation of controls whore appropriate. analyfical revbw and substantive
procedures Involving tests of transacuons and b8larkc88. Any iTregular1￿eS notod wgre di$cJJssed 7thth
martagamenl aTrJ addmonal corroborative evtden¢e was Obta￿e￿ 88 requir¢d.
To S￿dr￿S the rf$k of fraud through management oveTride we..
p8rfom8d an#lytl(¥l pro¢edur89 to Ident￿ any unusual or unexpeded r￿atIOnShIpS.
testgd tran88ctlDnal data lo Idenilfy any unusuHI Irans•clk)ns'.
teBted items of 8xpendituT& to ensurB that they wero v811d and approprfats,.
• re￿eWed transactions wlth related parties, indudh)g Trusle8s' expenses,.
• assessed whether Judgem8nts And assumptlon$ mada kn detèmlnFng th8 accountlng èBtlmatas were
indicative of potential btAs,' and
• r8wewed tha disdosures withln the financlal 8tat8Thnts to en8ur6 they meet the requlfemgnts Lrf tho
accounting standards And rélevant1gJislaUon.
In rgsponse tu the rlsk In respon58 k) the risk of lffegularitles wilh ￿98rd5 to the complglene$$ of Income we:
ayreed a 88mple of income re¢eNed from Source do¢um8nladon Into fv accounlng retxKd8.'
rewewed board minutes foT ewdgnce of any lurther unre¢orded In(x)ma Induding1gg8d98' WKI
F*rformed 8natytical procedures. comp3ring lo •xpectatton8 and prioryaar rgBuIts.
Thera ara inharent limitations in our procedure5 descrfbed above. The more Teffloved that laws arKI
regulatlons aro from financlal bxnsadlon$. the less Ilkely It is that we would becorne avraie of non-compllan¢o.
AudKtng standa￿￿ a150 Ilmlt the audlt pro¢8dures raqulred to klanrffy non.compliance ￿th laws and regulatlons to
enquiry ofthe dIr8cto￿ and olhgr managamenl and the InSpe￿lon of reguIAlory and legal correspondence. If any.
Material mi$5tatements that allse duè to fraud can be harder to dotect than Ihoso th81 artse from orror as they may
Involve deliberate con￿[ment or collusion.

TANGMERE MILrrARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF TANGMERE MILITARYAVIATION MUSEUM TRUST LIMITED
U8• of our report
Th18 r8POrt Is mada solèly to th& charitgble companws members. a8 a body, in accordanc8 Y￿th Ch8Pter 3 of Part 16
of the Componlg5 Act 2006. Our audit work has been undertaken so that we might Stats to the charilabla CoMpan￿S
memb8r3 those m8tters we are ￿qUired to state lo them In an auditots report and for no other purp05a. To thè
fullest extent perrnitted by 18w, we Lfo not 8ccepl or assume responsibility to anyone other than the charilable
company and the ¢haritsb]e I￿pan￿$ memb8rs as 8 body. for our audit wotk. for thls report. or for the oplnlons we
have fomied.
Loulsa Hastlngs ISenk)r Statutory Audltorl
lor and on behall of Moore (South) LLP
Chartored Accountsnts
ststutory Audltor
ty Gatss
2- 4 Southgale
Chichester
Wast Sussex
P019 8DJ

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
unl￿tr￿¢thd Unre8lrfct¢d
fund8
funds
general de*lgnat•d
2024
2024
Total Unrestrl¢ted Unrestslctsd
funds
funds
98nBT41 d•slgnai8d
2023
2023
2024
2023
Incomo and endowmqnts from:
Donallon8 and leg8d08
Chadtablo a¢Uvibe$
Investments
Other Inco
81.387
253.272
131,374
11.925
81.367
253,272
131.374
11.925
51.787
263.284
80.519
10,140
51.787
263.284
80.519
10.140
Total Incomo
477,938
477.938
406,730
405.730
Exp•ndlt￿rè on:
Rol$ln9 funds
Charitable adwfles
21,994
339.161
21,994
339,161
16,668
312,929
16.668
312.929
Totsl expond￿r¢
381,155
361.155
329.597
329,5WI
Nel galnsl(f*)ssesl on
Inveslrnents
10
114,289
114.289
141.383
141.383
N•t In¢om• and mov8mont ln
fund$
231,072
231,072
217J16
217.516
Re¢onclllatlon of fvnds:
Fund balan¢as at 1 January
2024
1.623,708 3.000,000 4,623,708
1A06,192 3.OLN].000 4,406,192
Fund balances at 31
Docember 2024
1,854.780 3.000.000 4.854.780
1,823.708 3.000.￿0 4.623,708
The Statoment offlnandal acUvlU&s Includgs all galns And1088￿ recognlsad In th& y&ar. Al Incom• and 6xpenditure
dar￿ from eonunulng aCt￿lE1￿&
10-

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
ASAT31 DECEMBER 2024
2024
2023
Notes
Flxod oM•ts
Intanglble assets
TarrfJible assets
Herllage 8s$8ts
Investments
15
16
17
39
743,111
183.366
3,755.134
1.995
887,023
174.368
3.584,298
4,681,850
4.447,682
Currènt ass•ts
Debtors
Cash at bank and Sn hand
41,661
157,315
45,326
169,809
198,976
215.135
Credltofs: amounts falllng due withln
ong y¢ar
23
{25,8461
(39.1091
N¢1 ¢umnt a5¥0ts
173.130
178.026
Total assets less current Ilatsllltl85
4,854,780
4,623.708
Nèt assats axcludlng p•nslon Ilablllty
4B54.780
4.623.70B
Tho funds al th• ¢harlty
Unrestrlcted funds- gBneral
unlo$￿¢[0d funds- doslgnaled
1.854.780
3.000,000
1,623,708
3,000.000
25
4,854.780
4,623,708
Thè88 financial statements hava been plepared in accordance Y+ilh the plovlsions applicable to ccrfnpanies subje
to the 8mall companies Teglm&
The flft9nd￿ 5tatsm&nts wgre approved by Ihg trustses on....
TDMHatton
Trustee
Corry)any reglstratton number 02208865 (England and Wales)
11

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng p¢Al¢lè•
Charlty Inf¢mi8tlon
Tangmer6 Milttary AM8tion Mu$8um Trust Llmited is a prfvate company limited by guaTantee ino)rpor8t8d In
EnglanLI and Wales. The ￿gISt￿re￿ offi¢% is Tongmera Museum. Gamecock Terrac8. Tangmer8, Chlch88ter.
P020 2ES.
Every mernber of Ihe company undertake¥ to conlrfbuts ¥uch amount a5 may be rgquirgd Inut pxc90ding £11
to thg companls assels rf it should b& wound up they are a m8mber. or ￿thin (Jne year aft8r ho ￿90$
lo bg a mgrnbor.
The nauro of the charlty And th8 prfnryal aCtiv￿8S of the o)mpany arè noted in th8 Trustees Report.
1.1 Accounting Gonventlon
The finandal ¥tslements have been prepared In ocwrdance wSth Ihe charitls Memorandum and Artides of
As80c18Uon, the Companles Act 2006. FRS 102 The FlnaneAg1 Reporting Stsndoid applicable in th8 UK and
R8publlc of Iroland. fFRS 102.) and thè Ch8ritias SORP 'Ac￿U￿ting and Reporting by Ch8rFh65.' Statemonl
of Recommended Practkg appllcablg to chHrities preparfng their ¥wJunts In 8ccOrdan￿ YAlh thB Finan¢lal
RepoTUng Standard appllcable In the UK and Rapubllc of Sreland (FRS 102r leffe¢tlvo 1 January 2019). Th8
charity Is a Publlc Benefit Entlty as define(I by FRS 102.
The th9rfty has taken advantBg8 of the provisions in the SORP for chaTiiTes not to pr8pare a Statsmenl of
Cash Flchvs.
The tJnan¢lal staternBnts prepared In stwllng, whlch Is thg fvndonal currgncy of thg chgrlty. Mon¢tary
arn(￿nts In these finandal 8tstemgnts are rounded to the Iw8resl £1.
Th8 finandal statem8nts hav8 been prepared under the hFstovical c0510)nvenlion, modified to indude th8
revaluBtton of Investments at markot valu8. The prinupal acuunling pc4iThes adopted are set out below.
1.2 Golng Gonc8m
At the tlrne of approvtng the )Inonclal statements, the InJstee¥ hove a reasonable expectation that the charity
has adequate resources to o)nOnue in operational existence for the foreseeable future. Thus the Irsjstees
continu8 to odopt th8 going corum bosFS of ac£ounting in praporlng fin8na•l statgm8nts.
1.3 Charltablo funds
Unrestrfcted funds are Bvallable for u58 at th8 dk%rellon of the tru3ts88 In furtherance of th8lr charitable
objedves.
Deslgnatsd funds have been allocated by the trusts6s aljow frjr expanslon of tho rnu5eum or replaee th8
buiklkng In the fvture.
Restrtcted fijnds are subject lo specffic conditlons by donors as to how they may be used. The purpose8 and
UBes of the r85tricted funds are set out in the notes to the finandal statements.
1.4 In¢ome
Incijmels recognised and induded in the accounts whon all ofthe foll0v￿ng criteria are met:
Th8 chority has entlllementto Ihe fund$
Any p&rfornianc* ￿ndItionS atlached tD the Incom8 have been met or ar• fully wilhin the control of
the tharlly
There 1$ 8uffidentcertalnty Ix)ncemlng wcelpt 0fts￿ In￿me.. and
The amount mèasured rd18biy
12-

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
A¢¢ountlng pollclo8
Icontlnued)
For legaci88, entiiloment 1$ taken a8 the 88rli&r of..
The date on whith thB charity18 aware that probate ha8 been granlgd:
The estate has been fjnalls8d and notificalton made by the exeDJtor(sl to the Museum that a
djslrfbullon ￿1[ ￿ made,. or
Whan dlstrfbutlon15 r8c01v8d from tha astata.
Rece￿t of 8 16gacy. In Who￿ or In part. Is only consldgred probpblo 7knon tho 8m¢unt Can bg maasur8d
reliably and the charity has baen nolTfied of the exe￿IDrfS intention to make a distllbubon. Wherelogaues
have been notified to the cknar6ty. or the thartty is aware of the granting of probate, and the criteria foi Incoff
re¢ognition have not been mel, Ih8n th8 ￿3¢Y is treated as a cThilingenl asset and disclosed tf material.
Intsrest on funds held on deposit 15 INAuded whon receivabl8 and the amount Can be measured reliab￿ bythe
bank.
Govemmtsnl orants ara r8¢ognlsed at tha falr value of thè a￿1 rec8iv•Y or re¢e]Yable whtrn thore 18
reasoftab￿ assurance that th8 grant condltions wll ￿ met and thè grants will bè received.
A grant that spe￿fieS performance condiuons Is reco9nised in Income when the perfonnanc8 condlllons are
mel. Wherg a gfant dogs not sp￿tfy pgrfornian￿ condlllon$ tt Is r¢co9nlsed In Incom$ when the pro¢oed$
Bre Tecetved or recefvable. A grant rece￿ before the recognttlon criterfa are $8Usfied is roc¢gnlsed as a
Ilabl￿.
1.5 Exp•ndltur•
Expendtture18 recogn560d onco thero Is a legal or cort8twcttV8 obllgauon to make a payment to a thlrd party. 5t
is probable that setuement wlll be requlred and the amcyjnt of the obllgatlon can b8 mèasufed rellabty.
ExF￿ndlbjw8 Indudes Irrecoverable VAT. and Is reported as part oftha expandlture to whl¢h It rdatgs:
. Cost of i8￿r￿j funds comprjsas c%ists 8ssodat8d wlth thè m8nagam8nt of cha￿￿& Invèstrngnt
porttolEo.
Charitable oxpendtlure compfises those InCu￿ed by the charity In the delfvery of Its activlU8S
8nd Services for its b8neficiarfes. It indudes r¥Jsts that can be all￿ated directty to such aGu￿tIeS and
th098 costs of an indirect nature necessary to SUPF*Yt them.
Support costs indude th080 costs assoclalad ￿ rn8eUng tho eonstliulon81 8nd statutory
requirements ol tho chority and include tha audm fvgs and costs Ilnkgd lo tho 8traleglc management
oftho ¢1)0rfty. Tho sUPPOrt are all all[￿al￿d to charitablg wsts.
1.6 Intartglbl• fi￿d amots other than goodwlll
Sof￿re development is inllially recognlsed at cost and 1$ sub$equenty measured at cost less accumulated
amortisation. Amortisation is r8cognis8d so as to vnit&off tha ￿st I&s5 thair rasldu81 v8lugS. OV6r their useful
Amorvsation 15 T8￿￿niS￿d so as to wrlte off the cost orvaluatlon of usats18ss r8sfdual valuas ov8r thdr
usaful Ilv8s on the foll￿￿n9 bas8$.'
sof￿var8
33% stra*ht lina basis
13-

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Aecountlng pollclgs
IContlnu•d)
1.7 Tanglbl? ￿•d a8¥0ts
Tangible fixed assets are In￿alty measured at COBI and 8ub8equenlty measured al rA)sl net of depTeclation
and any impalrment losses.
Depreciation is recognised so as to Wflte off the cost of a888t31888 thelr re8klual values over thalr u8eftJl liYe8
on the followlng bas¥'.
Improvement lo freehold propeTty
Flxtuw and fittln
IAotorvehlde$
stralghl Ilne over 50 years
25% redu￿n9 balanco b8818
25% reduclng b8lan¢g ba8ls
The galn or loss artslng on thè dl$poso1 of an a8$8t 1$ detwmlnad as the djfference btheon Ihe proceeds
and the earrylng valua of tho asset. And Is racognlsed In th8 Stotement ofllnandal odtvlUe8.
1.8 H•rftag• assats
The artefacts comprising the Museum collection are hi8toric In nature and fall ￿thin the definition of Herita
Assets wthin Accounting and Reportlng by Chartties: Statement of Recommended Pr8Ctlc& appllcable In the
UK and Republlc of Ireland (FRS102) (effectlve 1 January 2019)- (Charwos SORP {FRS1021).
The trustees constdor thal h would be diffieJJlt 8nd cosuy to attrfbute valu88 to donated artefacts becaus8 of
thglr unlqu8 natur8 and they ara 8ccordlngty axdud8d from thè Balanc• Sh08t 88 p&mlttad by thé Statsm•nt
of Re¢ommèn(led Pra¢ll¢8.
Purchased artefacts roeordod wluln fixed ￿01$ at cost pric8 and ar8 not depredaled on th6 ba8iS that
th￿ 8re consideied to have indefinite useful lives. An annual r6view is ¢atri&J out to cor￿]der Impairment a5
re5uII of, for example. physical deterioration or damage.
1.9 Flxèd ajaet Inve¥tments
The M(tseum holds Ilsted inve¥tments fr)rthe purposes of protscling the capital value of funds heid In Tes8rve.
Tha Mu88um applle8 a policy of revaluallon to mid-markel value.
Investrnents are recorded as flxed aBset trNe8tmenls u￿8S￿ they are expected to be reallsed wlthln 8 12
fflonlh perio¢J from balarÈce 8heel dat8.
1.10 Impalrment of Ilxed assets
Al each r8porting end date, the ¢harfty review8 th& ¢aft￿ng amounts of its tangSble and Intan9lb]e a88ets to
d&tormln8 whether there 18 any Indl(3flon that tho88 assets have SLtffered an impa[M￿nt loss. If any such
Indl(zUon ox18ts, fhe recoverable amount of the 8&8el is estimated in order to d81ennlne the axtenl of the
impalrmenl1088 (tf any).
1.11 Cttsh and ca$h oqulv•lentB
CBsh and ca8h equfva18nts ara baglc flnanclal Instruments and Include Cash in hand, deposits held al ¢all wllh
banks, oth8r 8hort-t8rm Ilquld I￿atr￿￿nIg ￿th or￿Inal maturlÈTes of three months or less. and bank
OYOTdrafts. Bank overdraft8 ar• shown borrowings in curT8nl liabil￿e$.
1.12 Flnan¢lal In$trumgDts
The tharity has financtal asB8ts and finan(¥al Ilabilities of a klnd that quo11fy 8$ bo$1¢ flnancial
Instruments. Baslc financial instwments ara inltialty recognlsed at tr8ns8Ctlon valuo and subsequanuy
measured at Ihelrsettlemenl valuo.

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounllng pollcl
Icontlnuodl
1.13 Taxatlon
The charity Is an exempt charity wllhin Ihe meaning of schedule 3 of the Charflles Act 2011 and Is con81dered
to Pass the tests sèt out in p8r8graph 1 Schedule 6 of Flnance Act 2010 and. theTefore. K meets th8 defintbon
of 8 th¥ritoble company for UK ¢orpoTallon tsx purpos¢s.
1.14 Employee benefits
The wsts of short-lgm employee bon8fits are recogntsgd as a liablllty and an expgnse. unless thosg ¢oslB
are req￿red to be reixjgnised a8 part of Ihe cost of stock or fixed ass¥ts.
The cost of any unused holl¢Jay entillemenl Is recognlsed in th8 pertod In whith the employee's Se￿¢88 8
Tam￿Ra￿On benefits are recogniqed Immedlatsly a8 an expen66 when the chartty Is demn8tsabty commltted
lo termlnate the employmenl of an erwea or lo provlde termlnayon benefits.
c1ft1￿1 a¢¢ounttn9 estlmate* and ludgamonts
In the appfication of th8 ctrAitys accounting pollcies. th& trustees arè required to make judgoments. Bsllmates
and assumpllorb$ about thè eArrylng amount of ass&ts and Ilabl¥Ua$ that are not roadlly gpparont from other
sources. The estlmales and assoclated assumptlons are based on hlstorlcal ¢xperfgnc8 and other factors Ihat
are conslderad to bg relev8nl. Actual results may dlffor from esumaies.
Tha 8gttm8tÉs and Und8￿n9 8sÈumptlons ar6 rèvlèwèd on 8n ongolng b8sls. Revk8ion$ to aceounung
e5ttmate8 are TecognLspd In the perlod In whlch the eS￿rnate Is revi8ed where the revision affects only that
riod. ur In the pertod of the revl8lon and future perfods where the T￿S1on affec18 both c￿￿ent and fuiure
periods.
The In￿86 hav8 c¥)nslder&J th8 assumptlons and thara are no araa8 r￿Ul￿ng g￿n￿l￿t Judgamenl or
stimailon in the ffnandal st8tamants.
Inrom? fr¢m donatlono and leBaclo¥
Unl￿1￿ct•d Unrestrlctsd
funds
nds
goneral
gènèral
2024
Don&lions and grfts
Legac¥8s recelvable
Membership fee8
Deed of Covanant
11,304
31.306
8,897
31,860
10.772
7.716
33.299
81.367
51,787
15-

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from charitable actfvltleB
Unrè5tri¢tsd
funds
general
2024
Unrestrfcted
fvnd8
g•neral
2023
Musoum
Museum entrance fees
253.272
263.284
In￿m& from lnv￿tm•nts
Unrestrlcted UnreBtrf¢ted
fund¥
nds
ganoral
98noral
202
2023
Income ftom listed Investments
Internst re¢elvable
128,541
2,833
77.695
2,624
131.374
80.519
¢Xhgr In¢omg
Unro$trf¢tsd Unre8trlcièd
nds
funds
general
general
2024
2023
RBnt roceivable
11.925
10,140
Expendlturo on rnlglng fund¥
Unr•strletsd Unr•strlct•d
funds
funds
general
ganoral
2024
2023
Invostment manageThnl
21.994
16.e68
16-

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Exp8ndltur8 on chartta141• activltkns
Museum
2024
Mu$¢um
2023
DITgCt
Staff costs
Depredallon and impawm9nt
R8185 and watsr
Llght and heal
Advertlslng
25,084
18.634
1.148
25,338
19.496
6.230
16,545
1.853
16,697
21,219
k li
Travelling 8xpen8ts8
Insuran¢9
Printing. F*)stsge and stall￿￿ry (stock adjusted)
W8b8ite d8velopment
Maintenance and repair5
Exhlbltlon dlsplay and aqulpm•nt rontal
Miscellaneosjs
Security costs and equlprnent Tental
Prof08$1onal 1898
Momorlal garden
46,141
15,494
59.410
13.778
13.600
2.963
63.686
2,005
24.115
4.770
15.065
435
1.699
70.561
4.070
28.108
16.249
2A18
270
283,354
262.371
Share of #upport #nd gov•rnance costs (Jee note 9)
Support
31.746
18.812
22.763
339.161
312,929
Analysls by fund
Unresldcaed fundB. general
339,161
312,929
Support COSts allocat•d to actMtle•
Total
Tolat
2023
Deptedatsn
Telephone
B8nk ch8ry88 Inter681
Canteen and deanln9
Governanca
11,626
9.114
3,746
8,558
22,763
12,516
8,250
7,318
18,812
55.807
50.558
17-

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Support costs allocat•d to actlvllloj
{Contlnued)
2024
2023
Governance costs comprls•".
Audil fees
Accountancy
Legal and profe8slonal
13.230
10.000
7,828
6,441
22.763
18.812
10 Galns and los•￿ on InV￿lMOnts
Unrnstrlcted UnreBtrfcted
fundts
funds
genoral
5onÉral
2024
2023
Gainsllloss88> arfslng on:
R•valuaUon and 8ale of Inveslmer
114,289
141,383
11 N•1 movemgnt In funds
2024
2023
The net movemeDt In funds 1$ statgLI aftor tharglngl{¢redltlng):
F¢es payablg forth8 audit of the chariW¥ financial statements
Deprgoation ofowned t8nglbt816x•J assats
AmoFlisalton of intsngible assets
13.230
28,304
10.000
27.105
1.956
12 Trustee8
Nono of tha tsusteeg (or any per80ng COn￿¢ted vAth them) recelved any rernunaTa￿c￿ or bervaffts from the
chortty durfng Iho yaar.
Trustses are relmbur8ed travd expenses Sncurred In th•tr role 8s volunto8rs. A total of £88212023.. £2,271)
was relmbursed to 5 twstees In year121)23: 4).
Donatlons In ros￿ of Frfend$ M￿be[shIp $ub8criplion¥ totaling £11712023: £20) were made by 3 ttU8tee
in th8 yoar {2023-. 1}. DonaOon$ m8d8 were deemed to bg unrestricted.
13 Employee4
The average monthly nLvnbgr of gmpfoyeg$ durfrwJ thg yearwas:
2024
Numbor
2023
Numbor
Totsl
18-

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13 Emplo￿•
(Contlnu8dl
Employmwnt costs
2024
2023
Waggs 4nd $818rf0s
Sodal securfty costs
othBr penslon costs
25,000
(4791
563
5.750
480
25,084
6.230
Tho thartty gmployed ono member ofstaff from 1 October 2023.
Ther8 wem no employe8$ whose annual remuneraflon was more than £60.000.
14 Taxatlon
Tho charfty Is axempt from tsx on Incom& and g8ln$ Mlng ￿thIn 80Ctlon SOS of th8 Taxets Act 1988 or 8ecUon
252 ofthe Taxation of Charggable Gains A& 1992 to the extent that theBe are applled to its charitable oblects.
15 Intanglbk fixed amets
SolhYar•
¢￿t
Al 1 January 2024 and 31 December 2024
5.927
Amort18atlon and Impalrnwjt
At 1 January 2024
Amortlsalon Chargod for tho ygar
3.932
1,956
At 31 Dttember 2024
Carrylng amount
At 31 Decèrnbgr 2024
39
At 31 Docgmber 2023
1.995
19-

TANGMERE MIUTARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Tanglblè tlxed as8•ts
Impro¥•iftth Flxlure* •nd Motr*rv•hld
to frgqholll
fittlnu6
proporty
Toiql
At 1 January 2024
Addbkn8
871.712
79,365
136.846
5,027
13,888
1.022A46
84.392
Al 310ec¢mbw 2024
951.077
141,873
13,888
1,106,838
D•prnelatlon and Impalmi•nt
At 1 J8nu8ry 2024
Doweda16on ¢harged In thg year
220,497
18.¢150
101,771
9.671
13.155
183
335.423
28.304
At 31 D8¢emb8r 2024
238.947
111.442
13,338
363.727
Carrylng amount
Al 31 December 2024
712.130
30.431
743.111
At 31 Decernbgr2023
651,215
35,075
733
687,023
17 H•rltago aM•ts
Total
At 1 January 2024
Pur¢hase8
174.366
9.000
At 31 Dec•mb•r 2024
183,366
The chartty holds numerous addluonal hebltage assets donated In th1$ and pr¢vlou5 yoats whi¢h a￿ of o
un￿u8 nature and In whlch th&re 19 no readlty traded market from whl¢h to 8s¢ertaln market values. Thesg
herttag8 ag9818 have b88n èxdudad from th& balancè sheet due to fhe significant ¢0sts thatwould be involved
In th8 valualan, whlth ar8 onon)us ¢ompared V41th tha additional benefft Ihal would be defved by users of the
accounts In a8¥esslng the IfusleeB' 81ewardBhlp of the accounts.
Flve yoar Summ
2024
174.368
9,000
2023
133.800
40,566
2022
133,800
2021
2020
117,300 105.300
16.500
12,000
Co61 bought forwatd
Purd)as6S
183,366
174.366
133,800
133.800 117.300
Du& to tho nature oflhè heFltage a$sal8 no dÉpr8daUon or Impakniont hay been msde.
20-

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
19 Flxèd ass￿ Inv•8tm•nt8
Llsted
InveBtments
Ca8h In
oth•T
portfollo Investments
Total
Cost or valuatlon
At f January 2024
Addluons
Valuation change3
DtSPO8819
3.530.874
1,083,262
114,289
(1,040.8481 (1.155.257)
47.424
1,169,390
6.000
3.584.298
2,252.652
114.289
12,196.105)
At 3108c4mb8r 2024
3.687.577
61,557
6,OC#)
3,755,134
Cavrylng amount
At31 Decen7ber 2024
3.687.577
61,557
3,755,134
Al 31 D8c8mber 2023
3.530.874
47.424
6.000
3.584.298
2024
2023
Other inve3trnent8 comprf8e.'
Invesknen15 kn subsldlarf8s
21
0.000
6,OLKI
2024
2023
Inv8slments hold over 5%
Axa Act crtjn Tmstn Stg BLry Inc
Bny Mellon Glb Fd$ US Hi Yld Beta X GBP Dis H
European Spec Inv M&G Cred Inv A GBP Hgd Di8
Robeo) QI Gbl mul￿ Factor Z
state Stre81 Gbl Aggrg Bd
stale StrgBt Gbl Tsy Bd Idx
5.13
5.16
5.02
5.21
12.44
11.11
10.04
5.18
11.47
7A3
2024
2023
Investments at fair value C¥)mpris8:
Ll8tsd Investments
3.887,577
3,530,874
3,887.577
3,530,874
-21

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
20 Flnon¢lal In•trumèTht8
2024
2023
Carrylng amount of flnAnclal assèts
Instwments measured at fdr value IhT¢Jugh prof￿ or1055
3,687.577
3.530.874
21 Sub51dlarfos
These fin￿n￿81 8falem8nts are $8p8rate charfty flnandal slat8m8nts for Tangmere Mlllt8ry Avl&Uon Museum
Tru$l Limited.
Datsils oftha charity8 subsidiaries at 310ecember2024 aro a8 follDW8:
Namo of undartaklny
R•g15tered
office
Maturo of buslneJ$
Class el
% Held
shafeg held Dlrect IndlroGt
T8ngmèr8 Musgum Tradlng UK
Compally Ltsl
useum glft shop
Ordinary
100.00
The aggregate Capit￿ and reserve& and th8 r08uIt for tho year of 8ubsidiarie8 excluded from consolld8ll(
was a5 follows-
Nam• of und•rtaklng
ProfiV(Loss) Capltal and
Ros•rv•s
T8ngmar6 Musaum Tradlng
Company Ltd
31.860
8.000
At the year end an amount of £32.154 (2023.. £33.593) wa8 due frorn the subsidiary. £31,86012023: £33,299)
Is due specffically in rètalion to Deed of Covenant Incomè for th8 ye8T.
22 Debtors
2024
2023
Amounts fallSng duo wlthln one ygar.
Amounts 0￿d by feNow group und¢rtakSrys
Prepayments arKI accnkd ineome
32.154
9.507
33.593
11.733
41.861
45.328
23 Cr•dttors: amount8 falllng du• wlthln on• y•ar
2024
2023
other taxation and soclal sgcurfty
Trade creditors
Accrua18 and dgferred wKom8
580
13,255
12,011
1.313
25N96
12,300
25.846
39,11)9
22-

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Retlr•ment benefrt schem
2024
2023
D¢tJngd ¢ontrfbullon ¥¢h8rn•s
Charge to profit or loss In raspoct of detkned contrlbudon schemes
The charity oporal89 8 defined conlrfbulk)n ￿nsIOn 8chem8 for all qual￿ng employag8. assets of the
8chèm6 are held 8epardtsly from thosa oftho charty In 8n Indepondanlly 8dmlnlgtar8d fijnd.
25 Unr•strlcted fundB- deslgnated
D8slgnat8d fvndg arg thoso wN¢h have boen sot asldg Out of unr9strf¢￿ funds by thp Inthg9 for 8pedfic
purposes.
These ars unreytri¢tod fullds whlch arè m8tertal to thè charfty8 a¢tMU8s.
At 1 January
2024
At31
DoGembDr
2024
FubJr• d•valopm•nl fund
3.000.000
3,000.000
Pr•vlous y•ar.
At l January
2023
At31
D*c•mb•r
2023
Futtrn devglopmenl knd
3,000.000
3,000,000
De8lgnatsd ftjnds were approwd to be 881 a81de 81 a Tw8ts8 meetlng hetd on qoth February 2009 for th8
fLrture developrnenl of a new or extended Musevm.
28 Unrostrlctgd fund$- g•n•ral
The unrestdcled fund5 of the charity comprf$e tha unexpended balances of donations and grants vthlch are
not subled to spe¢lfic eA)ndGtlons by donorg and grantors as to how they may be used.
At 1 January
Incomlng
2024 rnsourc•s
Resources
•XP8ndad
Galns and
loss•s
At31
D0￿M￿r
2024
General fund8
1.623.708
477.938
(361.155)
114,289
1.854.780
23-

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestrlctod funds- general
{Contlnuod)
Pr￿0￿$ ￿ar.
At l January
2023
Incomlng R•sources
rasourcas
•xpond8d
Gjlns ond
loss•s
At31
Doc8mb8r
2023
G8neral lunds
1,406.192
405,730
{329,5971
141.383
1.623.708
27 Anatysls of net assets ￿tWO•n fundB
Unr•8tricted Unrostrlct•d
fvnd$
funds
g¢n•rnl deslgnatod
2024
21Y24
Total
2024
At 31 Do¢•mbor 2024:
Intangible fixed assets
Tangibl8 ￿ets
H8ritag8 a8s8ts
Investments
Current a889ts1(lthilltie8)
39
743.111
181366
755,134
173.130
743.111
183,366
3,755,134
173.130
3,CKJO,IJOO
1.854.780
3.000.C
4,854,780
UnT•Strlcted Unra8trktsd
funds
fvnd8
neral deslgnated
2023
2023
Total
2023
At 31 D¥eèmb•r 2023:
IntsrvJible fixed assets
Tangible 8838ts
Haritago ass•t8
Investments
Current assetsllliabllities)
1.995
687.023
174.366
564.298
176,026
1.995
687.023
174,366
3,584.298
176,026
3,000,000
1,623,708
3.000.0
4,623,708

TANGMERE MILITARY AVIATION MUSEUM TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
28 Oporatlng ￿&#& ¢ommttmonts
Lo$s•e
At tho reporting and dale the ch8rity had outstanding commitments for futura minimum1e8se paymnts vThJer
nono8ncallabl6 oporating leases. which fall due as follow6-
2024
2023
Wthln one year
B8tsv88n and fv8 yaars
In ¢)wfive years
2.956
8.991
2,615
10,458
11,947
13.509