**Registered number: 1926148 Charity number: 516766** 

**YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL** 

**(A company limited by guarantee)** 

**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 



YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the Companyi its Trustees and advisers
Chaimian's statement
Trustees. report
Independent auditor's report on the financlal statements
Consolidated statement of financial activities
3-11
12-15
16
Consolidated balance sheet
17
Company balance sheet
Consolldated ststement of cash flows
18
19
Notes to the financial statements
20-42

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2022
Trustees
Mrs Rachel Semlyen MBE, Vice Chair. Chair from 3 J8nuary 2022
Mr Martin Withers. Chair until 3 January 2022
Mr Robert Emmett
Mr Anthony Ridge
Colonel (Retdl John Goodsir CYE (resigned 20 April 20221
Wing Command&r Howard Newbould, Vice Chair from 3 January 2022
Mr Jonathan Armstrong lappointed 25 June 20211
Company registered number
1926148
Charity registered number
516766
Re8lstered oifice
Halifax Way, Elvington, York, Y0414AU
Company se¢retsry
Ms Sally W&atherill
Senior management team
Mr Jonathan Brewer, Museum Director Ifrom 25 April 20221
t4Mrs 88rbara George, Museum Director (until 18 January 20221
Ms Eleanor Stead. Interim Museum Director (from 18 J8nuary 2022- 8 April 20221
Mr lan Richardson, Head of Memorial and Heritage
Independent auditor
BHP LLP, Rievaulx House, I St Mary's Court, Blossom Street. York, Y024 IAH
Bankers
Nètwest Bank, York, YOI 9YH
Page I

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 MARCH 2022
The chairman presents her statement for the year.
The year was again beset with problems beyond our control., fiv& months of enforced closure rneant a late start followed
by a resurgence of sickness among all sectors of the population due to Covid. This affected the museum's ability to fully
function. plan for events and recover, especially with recruitment, in time lor the 5umrner season. The trustees wish to
thank 8arbara George, the then museum director for her leadership, all those who had to cover for staff 3bsences with
longer working hours, to the volunteers for their care of the 51te and collection and for helping to keep visitors happy after
such a difficult year. Significant staff changes are detailed below.
Our regenerated business plan was announced in the last report but as with other organisation5. there have been change5
in personnel as individua15 seek new opportunities. This means that the main task has been to recruit the staff needed to
deliver the objectives of the plan. Its principles and vision for the future underlie all that we do. and we now look toward5
the next stage of our development which includes embarking on a programme of increasin8 accessibility to our collection
and archives. conservation ol aircraft and artifacts and restoration of our Grade 2 listed Contrtsl Tower.
I wish to thank Martin Withers for his steady four-year chairmanship and all the trustees, past and present, who have
worked tirelessly behind the scenes during the nearly forty years the museum has evolved frorn its inception. The MBE I
was honoured to receive in the Queen's Birthday Honours in June 2022 is a tribute to them and to all who have worked
unfailingly over the years to make the museum the respected, vigorous and amazing place it 15 todèv.
Mrs Rachel Semlyen MBE. Chair
Date-
Pa8e 2

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company Ilmlted by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their annual report together with the audited financial statements of the Yorkshire Air Museum and
Allied Air Forces Memorial for the year l April 2021 to 31 M8rch 2022. The trustees hève adopted the provisions of the
Statement of Recomrnended Practice ISORPI 'Accounting and Reporting by Charities" in prep3ring the annual report 3nd
financial statements of the charity.
The f1nancial staternents have been prepared in accordance with the 3ccounting policies set out in notes to the accounts
and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charitie5'.
Statement of Recommended Pr8Ctice 8pplic8ble to charitie5 preparing their accounts in accordance with the Financial
Reporting Stsndard èpplicable in the UK and Republic of Ireland published in October 2019.
Since the group and the Company qu81ify as small under section 383 of the Companies Act 2006, the Group strategic
report required of rnediurn ènd large companies under the Companies Act 2(M)6 Istrategic Report and Directors, Report)
Regu13tions 2013 has been omitted.
Objertives and actlvltles
Policies and objectives
The object of the Company is to advance the education of the public by the provision of a museum depicting the hlstory of
aviation and to provide a memorial. particularly to those members of the Allied Air Forces who served during the First and
Second World Wars and subsequent conflicts. There is particular though not exclusive emphasls on Y0r￿h1re as the
horne ol the birth of aviation and of scores of wartime bases.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published
by the Charity Commission relating to public benefit, includin8 the 8uidance 'Public benefit.. running a charity IP821'.
b. Re-stated Statement of Purpose
The Yorkshire Air Museum and Allied Air Forces Memorial is a Registered Charity and 3 Registered Company limited bv
guarantee. set up to advance the education of the public by providing a museum and memorial. The Trust seeks to collect
and interpret items that record and Celebrate the history of aviation and to provide a memorial to the allied air forces.
Yorkshire Air Museum celebrates avi8tion history with a unique collection of aircraft on display at Yorkshire's best-
preserved. original World War 2 airfield site. We tell stories of innovation, ingenuity 3nd courage that give insight into the
aircraft and the people who made 8nd flew them, to inform and inspire current and future generations.
The Trust collects, man3ges. stores. conserves. display5. and u5e5 for education, research, enjoyment and entertainment,
artifacts, airframes, aviation related components, eouipment, material, vehicle5, uniform5, COStume5, textiles, archives,
photographs, books. manuscripts. prints, drawings. paintings, sculpture, ephemera, and other items relating to the history
of aviation in Yorkshire. The Trust achieves this by sustaining and developing the historic RAF Elvington site, its buildings
and its collections to Accreditation standards, and provides access tor the public benefit.
Page 3

YORKSHIRE AIR MUSEUM & ALUED AIR FORCES MEMORIAL
IA company Ilmited by guaranteel
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Objectives and activities lcontinuedl
c. The Memorlal
The vision of the founders was to create a 'living' museum on the original wartime base that would support 8 rnemorial to
those who served in the cause of peace, to educate present and future generations and ensure that the sacrifices of the
allied air forces are not forgotten.
The site of the museum 15 the 8drnini5trative core of the former WW2 RAF Bomber Cornmand station, 'Roy31 Air Force
Elvington,. It consists of the original Control Tower and ancillary buildin8S, tO8ether with workshops, a WW2 hangar and
more thèn Sixty historic aircraft and vehicles. More than 200,000 registered artifacts are held in an archive building
designed and constructed in keeping with the existing 1940$ buildings- and in sixteen exhibitions and displays.
First on RAF Elvington in October 1942 w3s No. 77 Squ8dron RAF with mernbers from at least eight different allied
nations. They were followed by the only two French heavy bomber squadrons.. No. 346 (Guyennel and No. 347 ITunisiel.
The Squadrons flew the Hzndley Page H31ifax aircTalt. and, as none were preserved after the war, the museum started an
ambitious project to create a unique reconstruction. The completed aircraft has pride of place in the T2 hangar. Tours of
the Halifax for veterans, their families and descendants are an important part of the rnemorial aspects.
New Disp13y'. Faces of the Allies
Remembrance Sunday started with a ceremony at the memorial in Elvington and was well attended by local residents and
uniformed organisations. Invited dignitaries from the RAF, France, Poland. Australia, the USA, Can3d8 3nd New Z&31and
were then invited to lay a wreath in the Allied Air Forces Memorial Garden at the museum prior to attending a ceremony
to open a new exhibition financed by the Art5 Council celebrating the diversity of the allied air forces in Great Britain
during WWII.
d. The Museum
l. Visitors
After a concentrated period of cleaning, remedlal gardening and re-or8anising for social distancing, we were pleased to
See visitors return when we were able to r&open on th& 22nd May. In the following ten and a half month5 Iwe closed lor 2
weeks at Christmas) we welcomed 49,000 visitors. (Last year during six months.. 30,000,. previous year of 12 months..
56,000, previtsus years. 60,000 and 53,0001. Our aim 15 to market especially to our catchment areas, attract more familie5.
improve the visitor experience, refresh displays and provide excellent hospit31ity to encourage repe3t visits. A dedicated
Admissions Team supported by steward5 and guides provide front of house welcome and adrninistration.
2. Stafflng
All staff, except those involved directly in the trading company IYAMCOI, from 1st April 2021 are now employed by YAM,
the charity.
In the f1naneial year, 9 full tlme and 13 part time staff lineluding seasonal café staff) were employed.
In the autumn, Museum director Bart)ara George gave notice that she was moving on to a new hi8h-level appointment.
The trustees embarked on a recruitment campaign to find a heritage professional to take over the role. The campaign
attracted international and as well as national interest. Interviews were conducted online and in person. Jonathan Brewer,
an experienced general rnanager with the National Trust was appointed. Eleanor Stead, a non-executive direttor of
YAMCO was appointed 85 interim director frorn 10th January providing continuity and leadership until the new perrnanent
director could start on 25th April.
Page 4

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limlted by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Oblectlves and activtties Itontinuedl
To support the dellvery of the business plan
Accreditstion and Collection.. A Strategy and Action Plan for Digitisation & Digital Interpretation 2021-2024 was
completed by consultsnts, Kevin Bolton and Ruth Darling.
Scientist and conservationist, Michael St3nley A.M.A., F.G.S was 3ppoint&d part-time Consultant Collections Manager in
January 2022 to lead a review of accreditation standards and to formulate a conservation plan to include aircraft and
vehicle5, object collections, library and archives.
Health & Safety.. Scott Smith CMIOSH MinstRE was appointed part-time on a consultancy b8SlS to conduct H&S reviews,
training courses lor staff and volunteers and to oversee the fire detection systems in all buildings.
Marketing and Communications.. after the untimely death of Neill Watson ID April, a mana8er was recruited with the
responsibility of marketing the rnu5eum and its attraction5 to the wider population of aviation enthusiasts and the general
public. to develop the website and to improve internal communications.
Leèrning.. The volunteer education team wa5 Strengthened by appointing one of their number. a former teacher. as School
Liaison Co Ordinator to market and oversee the school visits.
3. Volunteers
The Museurn could not operate without its dedicated and enthusiastic volunteers. They help and support us daily as
guides. stewards, archivists, engineers and gardeners. Recruitment re-commenced after the restrictions lifted and they
receive frequent commendations frorn visitors for their enthusiasm. knowledge. and readine5S to help with information.
Education team
School visit5 are a vital part of our mission. and it is always uplifting to see the group5 on 51te. We ar& very grateful to our
six-stron8 Education Team of School Liaison Co Ordinator and five volunteers.
Activity in the year was greatly affected by Covid like many other rnvseums. Althou8h the museum was open for bookings,
schools were very hesitant arid some Still had restrictions to school excursions. Once the new School term settled down in
September. bookings incre8sed with 36 schools and a total of 1379 children coming for guided sessions in the period to
end of March, bringing in artsund £10,000 to the museum. The schools came frorn various areas of Yorkshire especially
around York. further north schools came from Co Durham and Teesside, and West Yorkshire. The furthest north was from
Scotland, and the furthest south from Surrey.
The school's program provides topics and activities for all age groups from Reception, Year l up to and including Year 9.
Topic5 are discussed with the lead teacher to ensure they are appropriate to their school lesson plan and curriculum. Our
school guides te3m 3re 311 DBS checked and have taken Basic Safeguarding courses.
Achievements andperformon
a. Review of activities
Site Management and Developmènt
The 80-year-old, 19405 buildings require constant maintenance. W& have 8 buildings Maintenance team who work all year
round (supported now by a dedicated Buildings and Facilities Manager). A new fire detection system was investl8ated 3nd
Came into operation early in the current financial year. Security and safety continue to be high priorities.
Page 5

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company Ilmlted by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Achievements and performance Icontinuedl
The iconic Grade 2 listed, Control Tower lor Watch Office) had deteriorated even more during the ltsckdown period. The
first task w3S to Make the building watertight and this was achieved in january 2022 in record time with a new roof and
repairs to the corroded ironwork and gutters. The plan is for the original window5 8nd external rendering to be restored in
2023. The tot31 cost of restoration will be in the region of £200,000, most coming from our own reserves and the rest from
fundraising from the public, grant-makin8 bodies and corporate sponsor5. We wish to record our thanks to Keith
Hardcastle. Built Environment Consultant, for project management and site surveys and to the ongoing support of Williarn
Birch & Sons Ltd, historic buildings specialists.
Nature Conservation
The 'Nature of Flight, conseNation area covery around 1.75 hectares14.3 acres). Thi5 are3 is designated as a Site tsf
Importance for Nature Con5ervation1SINCI by City of York Council due to its special wildlife interest. It is accessible to
museum visitors via an attractive path around the perimeter, including a viewing platforrn overlooking a pond and an area
which ha5 been used for educationèl activities and picnic tables. The area is managed according to a maintenance plan
drawn up by M3rtin H8mmond. Ecologist and Wildlife Consultant.
Environment Policy
YAM and YAMCO make every effort to care for the natural r&50urces of the site and to minimise their impact on the
environment with a programrne ol landscape management, upgrading buildin8 insulation. low-energy lightin& recycling,
running 3ircraft engines cornmensur3te with the maintenance need, reducing the use of single-use plastic and
unnecessary printing.
b. Trading Subsidiary
YAMCO is the wholly-owned trading subsidiary of YAM, is a vital part of our income. A H05Pltality and Retail manager was
appointed to develop the calé 3nd the shop. Along with many other hospitality outlets and venues, recruitment ol st8fl
proves to present onBoin8 recruitment difficulties but both f8cilitie5 h3ve benefited from investment and focused
attention to improve the visitor offer. The café was renamed Café 77 in honour of 77 Squadron Royal Air Force. the first
occupants of RAF Elvington in 1942.
c. Investment policy and performance
Under the memorandum and articles of association. the charity ha5 the power to make any investment that the trustees
See fit. They are guided by the Charity Commission Guidelines ICC141.
d. Fon¥ard planning
A Site Development Group was set up early in the year to look at the future need5 of the museum in terms of buildings
and infrastructure. Plans for a children's playground and a second hangar are high on the list *or development. The new
Strategic Business Plan announced last ye8r continues to underpin the activities of the museum with adjustments to its
progress dependent tsn the general economic situation.
e. Equal opportunities
We are committed to providing equal opportunities to all in employment and volunteering, irrespective of their gender,
race, ethnic origin. disabilityt age, nationality, national orlgin, sexuality, religion, marital status and social cla5S.
Pag& 6

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Financi41 review
a. Results for the year
In the year to 31 March 2022. income to the charity lincluding grants) increased from £939,415 in the previous year to
£1,033,734. Expenditure during the year also increased. from £747,836 in the previous year to £908,344. This resulted in a
net surplu5 for the year of £126,934, a decr&ase of £72,776 on the previous y&ar.
b. Grants, funding and legacles
The grants received during the year were £27,000 from the City of York Council ICYCI as part of the government post
Covid-19 business stsrt-up package and the remainder was the final part of the Cultural Recovery Grant tsf £312,531 which
was awarded by the Dep3rtrnent of Digital Media and Sport IDCMSI in 2020121. Coronavirus Job Retention Scheme grants
totalling £10,068 were received during the year.
We a150 received income totalling £288,060 from sources other than direct visitor contributions. Of this £30,540 came
from two valuable legacies, £50.718 Irtsm grants, £10,000 a5 a donation and £196.802 from a payment made by our
insurance company. Hiscox. under our Business Interruption Policy to cov&r business losses during all three Covid-19
lockdown periods of April - lune 2020, November 2020 and January- May 2021.
c. Going concern
As p3rt of their assessment of the going concern basis of preparation, the trustees have considered the impact of current
and recent events on the group and parent charitable company's activities and workforce, as well as the wider economy
and on the forecasted income for the year to 31 March 2024.
Given the level of assets and reserves and the budg&t forecast up to the end of November 2023. the trustees have a
reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable
future. For this reason, they continue to 3dopt the going concern basi5 in preparing the financi31 statements. Further
details reg8rding the adoption of the going concern basis can be found in the accounting policies.
d. Reserves pollcy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level that
enables the charity to meet its working capital requirernent5 on an ongoing basis. The Trustees believe that they need to
maintain minimum reserves @quivalent to two months tr3din£ giving a target level of 3round £200,000. Free reserves as at
the year end were £643,13912021.. £483,693). an excess holding funds for immediate projects and ongoing restoration of
the Control Tower.
Structure, governotrjce munooement
a. Constitution
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of ￿sOCiatiOn
on 26 June 1985. It is a registered charity number 516766.
Page 7

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company Ilmited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Structure, governance and management Icontinuedl
b. Management
The rnanagernent team 15 responsible for the operation, org8nisation and promotion of th& Museum on a daily basis. This
includes.. financial management., health & safety and risk management,. site maintenance and coordination,. contractor
hiring and supervision., capital projects p18nning and supervision., collections control, accreditation 3nd cur3tori31 services.,
exhibition planning and design,. staff and volunteer management,. events planning and organisation,. visitor experience and
liaison management,. external public relations and marketing,. outreach event design and participation,. external
partnerships,. fundr8ising,' environmental plannin8', memorial commemorative events and duties,. membership and
databases.. visitor enquiry respon5e5,' IJu5ine55 and professional networking.
c. Role of the Trustees
Trustees have independent and legal responsibilities for the charit¢5 management and administration and for ensuring
that it 15 carrying out it5 purposes for the public ben&fit. The BoarcS meets at l&ast six times a year and is responsible for
defining the mission and strategic priorities of the Museum ancl for setting and supervising the implementation bv
managernent of policies directed at that mission. with reference to finance (trading activities. furid rai5ingl, c8PIt31
projects (premises, structures), content lexhibits, archive and educational materiall, personnel (senior appointments,
relations between staff and volunteersl and any other issues which the Board may find require their input.
The Trustees are aware of the need to strengthen the 8oards of both YAM and YAMCO. Following a recruitment campaign
internally and externally, Jonathan Armstrong was 8ppointed to the Board of YAM with a Skill set in Health and Safety.
Finance 3nd Project Management. As non-executive directors to the b03rd of YAMCO, Mr Micha&l Killoran was 3ppointed
for his experience in retail business and Ms Eleanor Stead for her experience in Human Resources and Corporate Affairs.
The Trustees continue to encourage applications for these Board p051tion5.
d. Board Sub-committees
Trustees and Directors meet six times a year with the following sub-committees..
Finance and Audit
Governance and Nominations
Health and Safety
Fundraising
e. Methods of appointment or election of Trustees
With internal and external advertisements and publicity, the Board actively 5eek5 new Trustees of YAM and non-executive
directors ol YAMCO Ltd to increase its diversity and skills. Appointments were made in 2021. Each new trustee and
director is given induction sessions and encouraged to attend relevant training.
Page 8

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guaranteel
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Strutturej governance and management Icontinuedl
f. Pay pollcy for senior staff
Th& trustees consider that the Board of Dlrectors, who are Trustees, and the senior management team, comprise the key
management personnel of the charity in charge of directing and controlling, running and operating the Trust on a day to
day basis.
Directors review the pay of senior staff annually in line with the pay of staff in comparable museums in the heritage sector
and the pay of the museurn director 15 review&d annually by the Chairman and other directors.
g. Risk management
The Trustees have a risk rnanagement strategy which comprises..
11 Maintaining an up-to-date organisational Risk Register which is broken down into specific areas affecting Governall￿.
Finance and Compli3nce. Risks 8re characterised by allotting a Risk Priority Number IRPNI calculated a5 the multiple of
the S&riousness of the risk and the Likelihood of its occurrence. Risks are then designated as either High, Medium. or
Low depending upon the RPN number.
21 Sel&cting the top live risks for review by the Trustees at each Board rneeting held normally every two months.
31 The establishment of policie5, System5, and procedures to reduce the RPN number on a continuous basis.
41 Monitoring the progress of actions carried out to mitigate risks using a formal monitoring register which is also
updated following every 8oard meeting.
Significant risks affectin8 the financial position of the Museum are additionally overseen by the Board appointed Finance
Committee with regular reviews of incorne and operating costs.
The biggest short-term risk facing the Museum is conn&tted to economic factors that might impact our visitor numbers.
Page 9

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEPIORIAL
{A company limited by guarantee)
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Plans for future periods
The Trustees have established a Site Development Group with senior members of staff and the input of built environment
specialist. Mr Keith Hardcastle, Mr Scott Smith, Health & Safety Consultant and Mr Micheal Stanleyi Ctsnserv3tion
Specialist and new internal appointee to the roles of Buildings and Facilities Manager and Visitor Experience M8nager. The
purpose of the group is to achieve the Strategic objectives of the business plan, namely..
- To care for, understand and present our site ènd collections so they are accessible to current and future generations by
maintaining the fabric of the site, prioritising those areas that are of particular historic importance.
Improve visitor experience and development V15itor numbers. especially with 3 playground by next Easter.
Maximise our positive irnpact on the environment and protect the nature in our care.
Maintain the status a5 an accredited museum.
An accurate ma5terplan of the whole site has been produced and assessments made of the infrastructure, security of
collections and capabilities of utilitie5 for future expansioll.
The next phase is to produce a rnasterplan showing the sites for proposed new buildings,. for which planning permission
and funds will be sought at the appropriate time..
Second display hangar
Restoration hangar and workshop
Education arid Vi51tor Centre
Fundraising
The Yorkshire Air Museum engages in fundraisin8 for new and urgent restoration projects but does not use professional
fundraisers or commercial participators. The Museum nevertheless observes and complies with the relevant fundraising
regulations and codes. During the year there were no complaints rec&ived in relation to the Trust'5 fundr£i5ing practice.
Public benefit
The Trustees review the performance, aims and obj&ctives of the comp3ny every year. In carrying out the review, the
Trustees refer tts the Charity Commission's guidance on public benefit to ensure that all future and planned 3Ctivities meet
th8t guidance.
Page 10

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEPJJORIAL
IA company limited by guaranteal
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
ststement of Trustees, responslbilities
Th& Trustees Iwho are also the directors of the Company for the purposes of company lawl are responsible for preparing
the Trustees, report and the financi81 statements in accordance with applicable law and United Kingdom Accounting
St8nd3rds (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial st3tements for each financi31 . Under company law, th& Trustees
must not approve the financial ststements unless they are satisfied that they give a true and fair view ol the state of
affairs of the Group and the Company and of their incoming resources and application of resources, includin8 their
income 8nd expenditure, for that period. In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently,.
observe the methods and principles of the Charities SORP 2019 IFRS 1021,.
make judgernents 3nd accounting estimates that are reasonable and prudent,.
st3t& whether applicable UK Accounting Standards IF￿ 1021 have been fo51owed, subject to any materièl
departures disclosed and explained in the financial statements.,
prepare the financial Statements on the going comcern basis unless it is inappropriate to presume that the Group
will continue in bu5ines5.
The Trustees are responsible for keepin8 adequate accounting records that are sufficient to show and explain the Grtsup
and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and
the Cornpany and enable them to ensure that the financial statements comply with the Companies Act 2006. They are
Iso responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable step5 for the
prevention and detection of fraud and other irregularities.
Disclosure of informatlon to auditoi
Each of the persons who are Trustees at the time when this Trustees, report is approved has confirmed that-.
so far as that Trustee is aware. there 15 no relevant audit information of which the charitable group's auditor is
unaware. and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant
audit information and to establish thèt the charitable group's auditor 15 aware of that information.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Rachel Semlyen MBE
Chair of Trustees
Date..
Page 11

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guaranteel
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF YORKSHIRE AIR MUSEUM
& ALLIED AIR FORCES MEMORIAL
Opinion
We have audited the financial Statements of Yorkshire Air Museurn & Allied Air Forces Memorial (the 'parent charitable
company'l and its subsidiaries Ithe'group'l for the year ended 31 March 2022 which comprise the Consolidated statement
of financial activities, the Con501idated balance sheet. the Company balance sheet. the Consolidated statement of cash
flows and the related notes, including a summary of si8nificant accountin8 policies. The financial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, Iunited Kingdom
Generally Accepted Accounting Practice).
In our opinion the financi31 staternents-.
give a true and fair view of the state of the group's and of the parent charitable company's affairs 3s at 31 March
2022 and of the Group's incoming resources and application of resources, including its income and expenditure for
the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. arid
have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our
responsibilities under those stand3rds are further described in the Auditor's responsibilitie5 for the audit of the financia1
statements section of our report. We are independent ol the group and parent charitable company in accordance with
the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with
these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Concluslons relatlng to golng concern
In auditing the financial statements, we have conclud&d that the trustees, use of the going concern ba515 of accouff ting in
the preparation of the financial ststements is appropriate.
B3sed on the work we have performed. we have not identified any rnaterial uncertainties relating to events or condition5
that, individually or collectively, may cast $18nificant doubt on the Group's or the par&nt charitable company's ability to
continue as a going concern for a period of 8t least twelve months from when the financial statements are authorised for
issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant
s&ction5 of this report.
Page 12

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF YORKSHIRE AIR MUSEUM
& ALLIED AIR FORCES MEMORIAL ICONTINUEDI
Other information
The other information comprises the information included in the trustees. report other than the financial statements and
our Auditor's report thereon. The trustees are responsible for the other information contained within the trustees, report.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise
explicitly stated in our report. we do not express any forrn of assurance conclusion th&reon. Our responsibility is to read
th& other information and, in doing so, consider whether the other information is rnaterially inconsistent with the
financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be rnaterially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine
whether this gives rise to a material misstaternent in the financial statements thernselves. If, based on the work we have
performed, we conclude that there is a material misstatement of this other information, we are required to report that
fact.
We have nothing to report in this regard.
Optnions on other matters presc¥lbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the trustees, report (incorporating the directors, report) for the financial year for which
the financial ststements are prepared is consistent with the financial statements,. and.
the directors, report has been prepared in accordance with èpplicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the group and parent charitable company and its environment
oljtained in the course of the audit. we have not identified material misstatements in the directors, report.
We have nothin8 to report in respect of the following matters in relation to which Cornpanies Act 2006 requires us to
report to you if, in our opinion..
adequat& and sufficient accounting records have not been kept by the parent charitable company or returns
adequate for our audit have not been received from branches not visited by us,. or
the parent charitable company's financial statements are not in agreement with the accounting records and
returns., or
certain disclosures of trustees, remuneration specified by law are not made- or
we have not received all the information and explanations we require for our audit,. or
the trustees were not entitled to prepare the financial statements in aecordènce with the small companies regime
and take advantage of the small companies, exernption5 in preparing the directors, report and from the
requirernent to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the Trustees, responsibilities statement. the trustees Iwho are also the directors of the
charitabl& company for the purposes of company lawl are responsible for the preparation of the financial statements and
for being satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary
to enable the preparation of financial ststements that are free from material misstatement. whether due to fraud or
error.
Page 13

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
A ¢ompany Ilmlted by guaranteel
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF YORKSHIRE AIR MUSEUM
& ALLIED AIR FORCES MEMORIAL ICONTINUEDI
In preparing the financial statements, the trustees are responsible for assessing the Group's and the parent charitable
ompany's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the trustees either intend to liquidate the Group or the parent charitsble
company or to cease operations. or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed auditor under the Cornpanies Act 2006 and 5ertion ISI of the Charities Act 2011 alld report in
accordance with those Acts.
Our objectives are to obt3in reasonable assurance about whether the financial statements 8s a whole are free from
material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance. but is not a guarantee that an audit con£Jucted in accordance with ISAS
IUKI will alw3ys detect a materi31 misstatement when it exists. Misstatements can arise from fr3ud or error and are
considered material if, individu3lly or in the aggregate, they could Teasonably be expected tts influence the economic
decisions of users taken on the basis of these financial statements.
Irre8ularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line
with our re5porisibilities, outlined above, to detect material rni5Statements in respect of irregularitie5, including fraud. The
extent to which our proTrdures are Capable of detecting irre8u13rities, including fraud is detailed below..
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non compliance with applicable laws and re8ulations-
we identified the Ièws arid regulations applicable to the group and parent charitable company through discus5ion5
with man8gem&nt and trustees. and from our knowledge 8nd experience of this organisation..
we focused on specific laws and regulations which we considered may have a direct material effect on the financial
statements or the operations of the group and parent charitable company, including the Charities Act 2011. the
Comp3nies Act 2006, data protection, health and safety and employment laws-
we assessed the extent of compliance with the laws and regulation5 identified above through making enquirie5 of
management and trustees,.
Identified laws and regulations were communicated within the audit team regularly and the team remained alert
to inst3nces of non compliance throughout th& audit of the group and parent charitable company.
We a5se5sed the susceptibility of the group and parent charitable company's financial 5taternents to material
misstatement, including obtaining an understanding of how fraud might occur, by.,
making enquiries of management 3nd trustees as to where they considered there wa5 susceptibility tts fraud, their
knowledge of actual, suspected and alleged fraud,. and
considering the internal controls in place to mitigate risks of fraud and non eompliance with laws and regubations.
To address the risks of fraud through management override controls, we..
performed analytical procedures to identify any unusual or unexpected variantr5,'
tested journ31 entries to identify unusual transactions,.
assessed whetherjudgments and assumptions made in determining the accounting estimates set out in note 3
were indicative of potential bias,. and
investigated the rationale behind significant or unusual transactlons.
Pa8e 14

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
{A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF YORKSHIRE AIR MUSEU
& ALLIED AIR FORCES MEMORIAL (CONTINUED)
In response to the risk of irregularities and con-compliance with laws and regulations, we designed procedures which
included, but were not limited to..
agreeing financial statement disclosures to underlying supporting documentation.,
reading the minutes of meetings of those charged with governance.,
enquiring of managernent as to actual and potential litigation and claims.
There are inherent lirnitations in our audit procedures described above. The more rernoved that laws and regulation5 are
from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing st8ndards also
limit the audit procedure5 required to identify non-compliance with laws and regulation5 to enquiry of the director5 and
other management and the inspection of regulatory and le8al correspondence, if any. Material misstatements that arise
due to fraud can be harder to detect than those that arise from error a5 they may involve deliberate concealment or
collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at.. www.frc.or
Our-work
Audit
Audit-and-assurance
Standards-and- uidance
Standards-and
uidance-for-auditors
Auditors-res
descri
tion-of-3uditors-res
This
description form5 part of ourAuditor's report.
Use of our report
This report is made solely to the charitable company's members, as a bodyj in accordance with Chapter 3 of Part 16 of the
Companies Act 2006, and to th& ch8ritable company's truste&s. a5 a body. in accordance with Part 4 01 the Charities
IAccounts and Reports) Regulations 2008. Our audit work has been undertaken so that we mi8ht state to the charitable
company's member5 and its trustees those matters we are required to state to them in an Auditor's report Bnd for no
other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to 3nyon& other than the
charitable company and the charitable cornpany'5 rnembers, as a body. ènd the charitable company's trustees as a body,
for our 8udit work. for this r&port. or for the opinions we h8ve formed.
Jane Marshall (Senlor ststutory audltorl
for and on behalf of
BHP LLP
Chartered Accountants
Statutory Auditor
Rievaulx House
I St Mary's Court
Blossom Street
York
Y024 IAH
Date..
Ja
Page IS

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND
EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 MARCH 2022
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Total
funds
2021
Note
Income from:
Donations and le8acies
Charitable activities
50.872
487,045
236,577
27
25,343
76,215
487.045
236,577
27
449,656
283,399
85,681
96
Other trading 3Ctivities
Investments
Other income
233,870
233.870
120,583
Totsl Éncome
1,008,391
25.343
1.033,734
939.415
Expenditure on-
Raising funds
Charitable activities
258,695
603.947
258,695
649.649
155,670
590,622
45.702
Total expenditure
862,642
4S,702
908,344
746,292
Net incomellexpenditurel before taxation
Taxation
145,749
1.544
120,3591
125,390
193.123
11,5441
Net incomellexpenditurel after tsxation
Transfer5 between fund5
14Y.293
1.496
120,3591
11,4961
126,934
191,579
20
Net movement in funds
148,789
121,8551
126,934
191,579
Reconciliation of funds:
Total funds brought forward
Net movernent in funds
880,370
148,789
252,352
121,8551
1.132,722
126,934
941,143
191.579
Total funds carrièd forward
1,029,159
230,497
1,259,656
1.132,722
The Con501idated Staternent of Financial Activities include5 all gain5 and105ses reco8nised in the year.
The notes on pages 20 to 42 form part of these financial statements.
Pa8e 16

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
REGISTERED NUMBER.. 1926148
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2022
2022
2021
Note
Fixed assets
Tangible assets
Heritage 8ssets
Investments
14
572,590
593.004
15
16
loo
loo
572,690
593.104
Current assets
Stocks
17
22.487
23A80
684,659
13,708
85,263
488,414
Debtors
18
Cash at bank and in hand
730,626
587,385
Creditors.. amounts falling due within one year
19
143.6601
147,7671
Net current assets
686,966
539,618
Total net assets
1,259,656
1,132,722
Charity funds
Restricted funds
20
230.497
1,029.159
2S2,352
880,370
Unrestricted funds
20
Tot31 funds
1,259,656
1,132,722
The Trustees acknowledge their responsibilities for complyin8 With the requirements of the Act with respect to accounting
records and prepar3tion of financi31 staternent5.
The financial staternents have been prepared in aecordanee with the provisions applicable to entities subject to the sm311
companies regim&.
The financial statements were approved and authorised for issue by the Trustees and signed on th&ir behalf by..
Mfs Rachel Semlyen MBE
Chair of Trustees
Date..
The notes on pages 20 to 42 form part of these financial statements.
Pa8e 17

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limitèd by guarantee)
REGISTERED NUMBER.. 1926148
COMPANY BALANCE SHEET
AS AT 31 MARCH 2022
2022
2021
Note
Fixed assets
Tangible assets
Heritage assets
Investments
14
559,306
580,069
15
16
200
200
559,506
580,269
Current assets
Debtors
18
84.7S6
641.026
103,102
469,280
Cash at bank and in hand
725.782
572,382
Creditors.. amounts falling due within one year
19
138.6261
136,7131
Net turrent assets
687,156
535,669
Total net assets
1,246,662
1,115,938
Charityfunds
R&stricted funds
20
230,497
252,352
863.586
Unrestricted funds
20
1,016.165
Totsl funds
1,246.662
1,115.938
The Trustees acknowledge their responsibilities for complying Wlth the requirements of the Act with respect to accounting
records and preparation of financial statements.
As permitted by s408 Companies Act 2006. the company has not presented its own profit and loss account and related
notes. The comp8ny's profit for the year was £130.724.12021- £229,915).
Th& financial statements have been prepared in accordance with the provisiorEs applicable to entities subject to the small
companies regime.
Th& financial statements were approved and authorised for issue by the Trustees and signed on their behalf bv..
Mrs Rachel Semlyen M8E
Chair of Trustees
Date..
The notes on p3ges 20 to 42 form part of th&se financial statement5.
Page 18

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2022
2022
2021
Note
Cash flows from operatlng actlvltles
Net C3sh provid&d by operating activities
23
222,688
208,160
Cash flows from investing activities
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
1,414
I27￿57)
177,0981
Net cash used in investing activitie5
126A431
177,0981
Change in cash and cash equivalents in the year
196.245
131,062
Cash and cèsh equivalents at the beginning of the year
488,414
357,352
Cash and cash equlvalents at the end of the year
24
684,659
488,414
The notes on pag&5 20 to 42 form p3rt of these fin8ncial statements
Page 19

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
General information
The Yorkshire Air Museum and Allied Air Forces Memorial is an incorporated charity registered in England and
Wales. The address of the registered office is given in the charity information on page l of these financial
statements. The nature of the charity's operations 3nd activities are set out on page 2 of these financibl statements
and include advancing the education ol the public by the provision of a museum depicting the history of aviation
and to provide a memorial, particularly to those members of the allied Air Forces who served durin8 the First and
Second World War5 and subsequent conflicts.
Ac¢ountinE policles
2.1 Bosis oApreparotion offinonciulstutements
The financial statements have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Pr3Ctice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ir&land issued in October 2019. the
Financial Reporting Standard applicable in the United Kingdom and Republic of IreSand IFRS 1021, the
Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
Yorkshire Air Museurn & Allied Air Forces Memorial meets the definition of a public benefit entity under FRS
102. Assets and liabilities are initially recognised at historical cost or tran58Ction value unless otherwise stèted
in the relevant accounting policv.
The statement of financial activities ISOFAI and b31ance sheet consolidate the financial statements of the
Company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The Comp3ny h3S taken 3dvantage of the exemption allowed under section 408 of the Companies Act 2006
and has not presented its own statement of financial activities in these fin8ncial st3t&rnents.
The financial statements are prep8red in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
2.2 Going concern
As part of their assessment of the going concern basis of preparation. the trustees have considered the
impact of current and recent events on the group and parent charitable company's activitie5 and workforce.
as well as the wider econorny and oll the forecasted income for the year to 31 March 2024. The trustees are
confident that they have in place plans to deal with any financial losses that may arise.
At the time of approving th& financial statements. the trustees have a reasonable expectation that the group
and parent charitable company have adequate resources to continue in operational existence for the
foreseeable future. For thi5 reason. the trustee5 continue to adopt the going concern basis in preparing the
financial ststements.
Page 20

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Accounting policies Icontinuedl
2.3 Income
All Income is recognised once the Company has entitlement to the income. it is probable that the ineorne will
be received and the amount of income receivable can be measured reliably.
For legacies. entitlement is taken as the earlier of the date on which either.. the company is aware that
probate has been granted, the est3te has been finalised and notification has been mède by the executorlsl to
the Trust that 3 distribution will be made, or when a distribution is received from the estate. Receipt of 8
legacy, in whole or in part, is only considered probable when the èmount can be measured reliably and the
company has been notified of the executor's intention to make 3 distribution. Where legacies have been
notifi&d to the company, OT the company is aware of the granting of probate, and the criteria for incorne
recognition have not been met, then the legacy is treat&d as a contingent asset and disclosed if material.
Grants are included in the consolidated statement of financial attivities on a receivable basis. The balance of
income received for specific purposes but not expended during the period is shown in the relevant funds on
the balance sheet. Where income 15 received in advance of entitlement of receipt, its recognition is deferred
and included in creditors as deferred income. Where entitlem&nt occurs before income is received. the
income is accrued.
Income tax recoverable in relation to donations rec&ived under Gift Aid or deed5 of covenant1s recognised at
the time of the donation.
Other income is recognised in the period in which it is receivable and to the extent the goods have been
provided or On cornpletion tsf the service.
Grants received in relation to the government Coronavirus Job Ret&ntion Scheme (Furloughl have been
recognised within other incoming re50urce5. The grant 15 accounted for on the accruals basis once the related
payroll return has been submitted.
Page 21

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarante8}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Actounting polrc5es Icontinuedl
2.4 Expenditure
Exp&nditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party, it is probable that a transfer of economic benefits will be required in settlement and the amount
of the obligation can be measured reliably. Expenditure is classified by activity. The costs ol each activity are
made up of the total of direct costs 8nd shared costs. including 5UPPOrt costs involved in undertaking each
activity. Direct Costs èttributèble to a single activity are allocated directly to th8t activity. Shared costs which
contribute to more than one activity and support cost5 which are not attributable to a single activity are
apportioned between those activities on a basis consistent with the use of resources. Central staff costs are
allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use.
C05t5 of Tai5ing funds are costs incurred in attracting voluntary income, and those incurred in trading
activities that raise funds.
Charitable activitie5 and governance costs are costs incurred on the company's operation5, including 5UPPOrt
costs and costs relating to the governance of the company apportioned to charitable activities.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivoble
Interest on fund5 held on dep051t is included when receivable and the amount can be measured reliably by
the Group., this is normally upon notification of the interest paid or payable by the bank.
2.6 Tuxution
The company is considered to pass the tests set out in Sch. 6. para. l of the Finance Act 2010 and therefore it
eets the definition of a charitable company for UK corporation t3x purpos&s. Accordingly. the company is
potentially exempt from taxation in respect of income or capital gèins received within categories covered bv
Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s.256 of the T8X8tion of Chargeable Gains Act 1992, to the
extent that such income or gaills are applied exclusively to charitable purposes.
The trading subsidiary recognises tax in the Consolidated statement of financial activities.
2.7 Tungiblefixed assets onddepreclutlon
Acquisitions only arise when donated to the charity or if it is believed that they will further the chariws
objectives. Once acquired they will be preserved by the charity in order to keep their historical, artistic,
scientific. technologic81, geophysical or environrnental qualities to such a high level as to contribute to
knowledge and culture. A register of 811 assets held by the ch3rity is available and the assets themselves are
8ccessible to the public with pritsr agreement. Heritage assets are to be held for the foresee3ble future.
Page 22

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Accounting policies Icontlnuedl
2.7 TL7ngiblefixed o5sets und depretiution (continuedj
A Teview for impairment of a fixed asset is carried out if events or changes in circumst3nce5 indic3te that the
carrying value of any fixed asset may not be recoverable. Shortfa115 between the carrying value of fixed assets
and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the
Statement of fin8ncial activities.
Tangible fixed 355ets are carried at cost, net of depreciation and any provision for impairm&nt. Depr&ci3tion
is not charged on freehold land. Depreciation is provided at rates calculated to write off the cost of fixed
assets. less their estimated residual value, over their expected useful lives on the following bases..
Freehold land
Freehold building5
Exhibits and displays
Equipment and vehicles
2.5% & 20% per annum straight line
IO% to 20% per annum straight line
20% per annum straight line or 25% per annum
reducing balance
2.8 HeritQge tsssets
Heritage assets are recognised on the balance sheet and initially measured at cost when purchased or if
donated. their valuation. As5et5 are subsequently stated at cost or valuation less accumulated depreciation
and accumulated impairment losses. Fair v81ues for donated assets are estimated by reference to market
prices.
Where information on the cost or valuation of heritage 3ssets is not available or the cost of providing such
inforrnation significantly outweighs any benefit to the users of the accounts then heritage assets are not
recognised on the balance sheet.
2.9 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their tr3nsaction cost
and subsequently measured at fair value at the Balance Sheet date, unless fair value cannot be measured
reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or
unre31ised, ar& combined and shown in the heading 'Gainslllossesl on investments. in the Statement of
Investments in subsidi3ri&s are valued 3t cost less provision for impairment.
2.10 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and
slow-rnoving stocks.
2.11 Debtors
Trad& and other debtors are recognised at the Settlement èmount after any trade discount ottered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 23

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Accountlng pollcles lcontlnuedl
2.12 CG5h ut bank ond in hond
Cash at bank and in hand include5 eash and 5hort-tem highly liquld investments with a short maturity of
three months or less from the date of acquisition or opening of the deposit or similar account.
2.13 Liabilities ondprovisions
Liabilitie5 are recognised when there is an obligation at the Balance sheet date as a result of 8 past event, it is
probable that a transfer ol economic benefit will be required in settlement, and the amount of the settlement
can be estimated reliably. Liabilities are recognised at the amount th3t the company anticipates it will pay to
settle the debt or the amount it ha5 received as advanced payments for the goods or services it must provide.
2.14 Flnonclul instruments
The Group only has financial assets and fin8ncial li3bilities of a kind that qualify a5 basic financial in5trument5.
Basic financial instruments are initially recognised at transaction value 8nd subsequently m&asured at their
settlement V31u& with the exception ol bank loans which are subsequently measured at amortised cost using
the effective interest method.
2.15 Pension5
The Group operates a defined contribution pension scheme and the pension charge repre5ent5 the amounts
payable by the Group to the fund in respect of the year.
2.16 Fund uccountlng
General funds are unrestricted funds which are available for use at the dlscretion of the Trustees in
furtherance of the general objectives of the Group and which have not been designated for other purposes.
Designated funds comprise unrestricted fund5 that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to th& financi31 statements.
Restricted funds are funds which are to be used in accordance with specific restrietions imptssed by donors or
which have been raised by the Group for particular purposes. The costs of r3ising and 3dminist&ring such
funds are ch8rg&d 8gainst the Specific fund. The aim and use of each restricted fund is set out in the notes to
the financial statements.
Page 24

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Critical accounting estimates and areas of Judgement
Estimates and judgements are continually evaluated and are based on historical experience and other facto￿.
including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions..
The Company m3kes estimates and assumptions concerning the future. The resultin8 accounting estimates and
assumptions will, by definition, seldom equal the relbted actual results. There are no estimates and assumptions
that have a significant risk ol causing a materi81 adjustment to the carrying amounts of assets and liabilities within
the next financial year.
Intome from donation5 and legacies
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Total
funds
2021
Oonation5
20,332
30,540
1,625
21,957
30,540
23,718
12,543
3,000
434,113
Legacies
Grants
23.718
50,872
25.343
76,215
449,656
Total 2021
12,468
437,188
449,656
Income from charitable acttvities
Unrestricted
funds
2022
Total
funds
2022
Total
funds
2021
Educational (museum and memorial)
487.045
487,045
283,399
Total 2021
283,399
283,399
Page 25

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEPIORIAL
IA company limited by guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Unrestricted
funds
2022
Total
funds
2022
Total
funds
2021
Membership subseriptlons
Gat& r&ceipts
Income tax recoverable
5,967
430,954
45,784
1,850
2,490
5,967
430,954
45,784
1,850
2,490
7,525
235,529
35,153
Guide books
Other income
5.192
487,045
487,045
283,399
Other trading activities
Uniestrlcted
funds
2022
Total
funds
2022
Total
funds
2021
Churity tmdlng Income
NAAFI. shop, site and roorn hire income
Fundroising truding expenses
Light and heat
Maintenance
228,446
228,446
85,681
4,337
1.885
454
4,337
1,885
454
2,488
328
Telephone
Recruitment
435
2,064
5.276
6,303
105.776
927
2.064
5,276
6,303
105,776
927
Irrecoverable VAT
2,003
3,611
43,313
4.268
94.916
4.308
Bank charg&s
NAAFI and shop cost of sales
Bookkeeping and payro15
Staff costs
127,604
4,069
127.604
4,069
Depreciation
258,695
258,695
155.670
Net expenditureArom other troding octivitffes
30.249
30,249
69,989
Page 26

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Other Incomlng resources
Unrestricted
funds
2022
Total
funds
2022
Total
funds
2021
Coron8virus job retention scheme grant
Other income
10.068
10.068
99.294
75
Local restrictions support grant
Insurance claim
27.000
196.802
27,000
196.802
21.214
233.870
233.870
120,583
Total 2021
120,583
120,583
Analysis of expenditure on charitable activities
Summory byfund type
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Total
funds
2021
Educational Imuseum and memorial)
603,947
45,702
649.649
590,622
Total 2021
343,601
247,021
590,622
Page 27

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Analysis of expenditure by activities
Activitres
undertaken
directly Support costs
2022
2022
Total
funds
2022
Total
funds
2021
Educational Imuseum and memorial)
349,225
300,424
649,649
590,622
Total 2021
309,370
281,252
590,622
Analysis of direct costs
Total
funds
2022
Total
fund5
2021
Educational
2022
Staff costs
73,800
42,505
202,875
2,326
73,800
42,505
202,875
2,326
13,799
13,920
85,146
50.324
136.064
Depreciation
Site costs and services
Guide books
Insurance
13,799
13,920
13.812
24,024
Publicity
349,225
349,225
309,370
Total 2021
309.370
309,370
Page 28

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Analysis of expenditure by activities Icontinuedl
Analysis of support costs
Total
funds
2022
Total
funds
2021
EducatlOn31
2022
Staff costs
213,968
29.532
30,963
25,961
213,968
29,532
30,963
25,961
186,032
20.070
44,312
30,838
Administration services
Office expenses
Governance costs (note 101
300,424
300,424
281,252
Total 2021
281,252
281,252
io.
Governance Costs
Unrestrirted
funds
2022
Restricted
funds
2022
Totsl
funds
2022
Total
funds
2021
Audit 3nd accountancy
Legal and professional fees
Bad debts
8.990
12,346
225
8.990
16,746
225
7.625
23,213
4,400
21.561
4.400
25,961
30,838
Total 2021
8.578
22.260
30,838
Page 29

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
ii.
Auditor's remuneration
2022
2021
Auditor's remuneration- audit
9,535
20.188
7,000
22.050
All non-audit services not included above
12.
Staff costs
Group
2022
Group
2021
Company
Company
2021
2022
Wages and salaries
Social security costs
Pension costs
383,716
25,435
6,221
338,341
21,725
6,028
262.502
20,200
5,066
247,453
18,592
5,133
415,372
366,094
287,768
271,178
Redundancy payments were made in the year totalling £4,29612021: £7,3621.
The average number of persons employed by the group during the year was as follow5..
Group
Group
2021
No.
2022
No.
Operation81
Administrative
16
18
22
23
No employee received remuneration amounting to more than £60,000 in either year.
During the year key management personnel's remuneration, including employers, pension and national insurance,
totalled £106,99712021.. £109,030).
Page 30

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA COTnpany limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
13.
Trustees, remuneratÉon and expenses
During the year. no Trustees received any remuneration or other benefits12021- £NILI.
During the year ended 31 March 2022, a tot31 of £334 12021 - £NILI was reimbursed to 2 Trustees relating to
office expenses.
14.
Tangible fixed assets
Group
Freehold
property
Exhlblts and Equlpment and
displays
vehicles
Total
Costor vuluation
At l April 2021
Additioris
1,032,481
781
135,505
3.451
289.080
23.625
12,1211
1,4S7.066
27.857
12.1211
Disposals
At 31 March 2022
1,033.262
138.956
310,584
1,482,802
Depreclation
At l April 2021
Charge for the year
On disposals
523,024
20.271
124,268
1.934
216,770
24.369
14241
864.062
46.574
14241
At 31 March 2022
543,295
126.202
240,715
910.212
Net book value
At 31 March 2022
489,967
12.754
69.869
572.590
At 31 March 2021
509,457
11,237
72,310
593,004
Included in land 3nd buildings is freehold land at a cost of £97,59112021.. £97.5911 which is not depreciated.
Page 31

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
14.
Tangible fixed 35sets Icontinuedl
Company
Freehold
property
Exhibit5 and Equipment and
displays
vehicles
Totsl
C05t or vuluotion
At l April 2021
Additions
1,032.481
781
135,505
3,451
201.249
19,207
12.1211
1,369.235
23,439
12.1211
Disposals
At 31 M3rch 2022
1,033.262
138,9S6
218.335
1390.553
Depreciotion
At l April 2021
Charge for the year
On disposals
523.024
20,271
124.268
1,934
141.874
20.300
14241
789.166
42.505
14241
At 31 Mèrch 2022
S43,295
126.202
161,750
831,247
Net b(￿k vulue
At 31 March 2022
489,967
12.754
56,585
559,306
At 31 March 2021
509,457
11,237
59,375
580.069
Included in land and buildings is freehold land 8t a cost of £97,59112021-. £97,591] which is not depreciated.
Page 32

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
15.
Heritage assets
The charity holds a variety of historic aircraft. vehicles and other items that may be considered to be herit3ge
assets. The assets are held for the purpose of allowing the charity to fulfil its objective of advancing the educatio
of the public by the provision of 3 museurn depicting the history of aviation.
The trustees consider that obtaining valuations for the majority of the historic aircraft and other items that are
exhibited in the museum would involve disproportionate cost. Furthermore, given the specialist nature of the
assets and the absence of comp3rable market values It 15 considered that conventlOn31 valuation approaches mav
in any event lack sufficient reliability. As such, the charity does not recognise heritage assets on its balance sheet,
except to the extent that there have been recent acquisitions where an exhibit or artif3Ct has been purchased, in
which case the asset is initially included at cost and is subsequently depreciated. All of these herita8e assets have
been fully depreciated in previous years.
Any expenditure on heritage assets that in the view of the trustees is required to preserve individual assets is
recogni5ed in the statement of financial activities as incurred.
In the past 5 year5, no heritage assets have been purchased or disposed of.
One heritage a55et ha5 been donated during the period.. Hunting Percival IBACI Jet Prov05t T.3è XN582
Given the nature of th& ass&t and the absence of comparable market V31ues. a reliable estimate for the value of the
asset could not be obtained.
16.
Flxed asset investments
Investments In
subsidiary
companles
Group
Costorvoluution
At l April 2021
loo
At 31 March 2022
100
Inve5tment5 in
subsidiary
companies
Company
Costorvoluutlon
At l April 2021
200
At 31 March 2022
200
Page 33

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
The following were subsidiary undertakings of the Cornpany..
Names
Company
number
Principal artivity
Holding
Airspeed (York) Limited
YAMCO Limited
08734418
02801334
Dormant
C8tering, retail and
venue hire
loo%
loo%
The financial results of the subsidiaries for the year were..
Names
Aggregate of
share capital
and reserves
ProfitllL0551
Airspeed Iyorkl Limited
YAMCO Limited
loo
146,9061
163,7901
17.
Stocks
Group
2022
Group
2021
Goods for resale
22.487
13,708
18.
Oebtor5
Group
2022
Group
2021
Company
Companv
2021
2022
Trade debtors
3.085
467
3,085
71,307
1,7S8
8,606
225
Amounts owed by group undertakin8S
Other debtors
24,765
1,454
76,658
11.427
8,968
8,138
76.658
Pr&payments and accrued income
23.480
85,263
84,756
103,102
Page 34

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
19.
Creditors.. Amounts falling due within one year
Group
2022
Group
2021
Companv
2022
Compèny
2021
Trade creditors
21.305
26,4132
1,544
6.037
1,106
12.648
20.482
26,365
Corporation tax
Other taxation and social security
Other eredittsrs
2.091
1.43S
18,829
2,091
Accruals and deferred income
16,053
10,348
43,660
47.767
38,626
36,713
Page 35

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarnnteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
20.
ststement of funds
ststement of funds- current year
Balance at I
April 2021
Transfers
in/ovt
Balance at 31
March 2022
Intome
Expendlture
UrJrestrictedAund5
DeslgnotedAunds
Fixed assets
396,576
137,0981
26.442
385,920
GenerolAunds
General fund
467,009
16,785
761,439
246,952
1513,2571
1310.7431
124.9461
690.245
147,0061
Trading fund
483,794
1,008,391
1824.0001
124,9461
643.239
rotsl UnrestrittedAunds
880.370
1,008.391
1861,0981
1,496
1.029.159
Restrlctedfvnds
Grants and donation5
6.587
83,890
23,191
112,537
7,427
1,496
500
1.625
11,4371
16,0001
6,775
77,890
23,191
108,778
7,427
1,496
soo
Canadian Memorial Han8er
Airgunner5
Aircrew Association
13,7591
Control Tower
Archives Security
Museum Memorial Fund
Kirby Foundation
HLF Emergency fund
DCMS grant fund
3,679
9,054
3,991
IS141
17,1801
126,8121
13001
12991
18971
2.865
1.575
23,718
252,352
25.343
145.7021
11,4961
230,497
Totulollunds
1,132.722
1,033.734
1906.8001
1.259,6S6
Page 36

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
20.
ststement of funds Iconttnuedl
Statement of funds- prior year
Balance at
31 March
2021
Balance at
l April 2020
Transfers
in/out
Income
Expenditure
UnrestrittedAund5
Designutedfunds
Fixed assets
362,104
144,2611
78,733
396.576
6eneralAunds
General fund
277,381
55.120
317.177
185,050
1295,5861
1160,9681
168,037
162.4171
467,009
16.785
Trading fund
332,501
502,227
1456,5541
105,620
483,794
Total Unrestrictedjunds
694,605
502,227
15(M),8151
184,353
880.370
Restrlctedlunds
Grant5 and donations
6,595
89.890
23,191
116.908
7,454
2.000
500
2,637
11.0091
16,0001
11,6361
6,587
83,890
23.191
Canadian Memorial Hanger
Airgunners
Aircrew Association
14,3711
1271
13021
112.537
7.427
1,496
soo
Control Tower
Archives Security
Museum Memorial Fund
1,438
11,6401
Kirby Foundation
HLF Emergency fund
DCMS grant fund
10,000
134,300
288.813
11.1001
163,3531
1170.8591
15,2211
161,8931
1113,9631
3,679
9.054
3,991
246,538
437,188
1247,0211
1184,3531
252,352
TotulolAunds
941,143
939,415
1747,8361
1,132,722
Page 37

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
20.
Statement of funds Iconttnuedl
Deslgnated funds
The fixed asset fund represents the fixed assets held in unrestricted funds of the parent chaTIty.
Restricted funds
Grants and donations relate to amount received to be spent on specific projects.
The Canadian Memorial Hangar fund represents a grants awarded towards the cost of construction of the T2
Canadian Memorial Hangar. Terms of the National Heritage Memori81 Fund gr3nt st3te that the company will not
sell, let, pledge. mortgage, charge or otherwise encumber the property without prior consent of the National
Heritage Memorial Fund. A grant from the PRISM Grant Fund w8s provided on behalf of the Museums & Galleries
Commission. The assistance was provided subject to the condition that the Hang8r is distinguished in title from the
remaining assets of the Yorkshire Air Museum and will not be mortgaged or charged in any way. The fund is being
reduced in line with the annual depreciation charge of the building.
The Airgunners fund represents amounts received dedicated to the Airgunners memorial room.
The Aircrew Association fund relate5 to the cost of the archives building which was funded by grants from the
Aircrew Association. The fund is being reduced in line with the 8nnu31 d&preciation charge of the building.
The Control Tower fund represent5 a grant received from the Arnold 8urton Foundation for a project to improve
and maintain the control tower display.
The Archives Security fund consists of 8 don8tion received specifically for the archives collectitsn.
The Museum Memori31 Fund represents donations towards the rnemorial aspect of the museum.
The Kirby Foundation repre5ent5 8 grant received from the Kirby Foundation for a families and children's project.
The HLF Emergency Fund represents 8 grant received to cover essential costs for 4 months in response to the
COVID-19 crisis.
The DCMS grant fund represents a gr3nt received in response to the COVID-19 crisis towards essential site
maintenance and staff costs, promotion and marketin8, and includes a resetves boost which has been shown as a
transfer from restricted to unrestricted funds.
Fund transfers
A transfer has been made from the general fund and various restricted funds to the designated fixed 3ssets fund
equal to the fixed asset 3ddition5 net of di5POsal proceeds of £26.442.
Page 38

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
{A ¢ompany limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
21.
Summary of funds
Summary of funds- current year
Balance at I
Aprfl 2021
Transfers
Balance at 31
Marth 2022
Income
Expenditure
Designated funds
General funds
396,576
483.794
252.352
137,0981
1824,0001
145,7021
26,442
124,9461
1.4961
385,920
643,239
230,497
1.008,391
25,343
Restricted funds
1.132,722
1.033,734
1906,8001
1,259,656
Summary of funds- prlor year
Balance at
31 March
2021
Balance at
l April 2020
Transfers
inlout
Income
Expenditure
Designated funds
GeneTal funds
362,104
332,501
246,538
144,2611
1456,5541
1247.0211
78,733
105,620
1184,3531
396.576
483,794
252.352
502,227
437.188
Restrirted funds
941,143
939,415
1747,8361
1.132,722
22.
Analysis of net assets between funds
Analysis of net assets between funds- current year
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Tangible fTxed assets
Fixed ass&t investments
385.920
loo
186,670
572,59)
i(K)
Current assets
686,799
143,6601
43,827
730,626
143.6601
Creditors due within one year
1.029,159
230,497
1,259,656
P3ge 39

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
22.
Analysis of net assets between funds Icontinuedl
Analysis of net assets between funds- prior yeai
Unrestricted
funds
2021
Restricted
funds
2021
Total
funds
2021
Tangible fixed assets
Fixed asset investments
396,577
loo
196,427
593,004
loo
Current assets
531,460
147,7671
55,925
587,385
147,7671
Creditors due within one year
880,370
252,352
1,132,722
Reconcillatlon of net movement in funds to net cash fl¢)w from operating activities
Group
Group
2021
2022
Net income for the year las per Statement of Financial Activities)
126,934
191,579
AdjustmentsAor.'
Depreciation charges
Loss on the sale of IiKed assets
Decrease/lincreasel in stocks
Decreasellincreasel in debtors
Increaselldecreasel in creditors
Taxation charge
46,574
283
54,632
18,7791
61,783
12,5631
11,5441
4,845
149.5391
5,099
1,544
NetCQ5h pmvided byopen7ting uctivities
222,688
208,160
Page 40

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
24.
Analysis of cash and cash equivalents
Group
Group
2021
2022
Cash in hand
684,659
488,414
Totulcosh ondcash equlvolents
684,659
488,414
25.
Analysis of changes In net debt
At l April
2021
At 31 March
2022
Cash Ilows
Cash at bank and in hand
488,414
196,245
684,659
488,414
196,245
684,659
26.
Pension commitments
The charity operates a defined contribution pension p13n for its employees. The amount recognised as an expense
in the period was £6,22112021.. £6,028).
27.
Related party transactlons
At the balance sheet date the charity had an outstanding net debtor balance due from its subsidiary undertaking,
YAMCO Limited. amountifig to £131,30712021.. £24,765). At the year end a provision has been made for £60,000
in the Yorkshire Alr Museum company accounts relating to the net liabilities of YAMCO. Ouring the year,
expenditure wa5 recharged from the 5ub5idiary company of £49.795 12021.. £271,179) for group setwices, wa8es
and rent. Also durin8 the year, expenditure was recharged to the subsidiary company of £2.94512021.' nill for cafe
sales.
Durin6 the period, 2 Trustees made total donations of £1,210 to the chèTIty.
Controlling patty
The trustees consider that there is no ultimate controlling party of the group or the charity other than the board of
trustees as a body.
Page 41

YORKSHIRE AIR MUSEUM & ALLIED AIR FORCES MEMORIAL
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
29.
Company limited by guarantee
The charity, being a company limited by guarantee, has no share capital. Every rnember 15 liable to contribute a
sum not exceeding £1 in the event of the company being wound up whilst still a member or within one year
thereafter. The members are not entitled to any distribution of the income or property of the company and. in the
unlikely event of the winding up or dissolution of the company. any surplus rem8ining shall be transferred to some
other charitable institution having charitable objects similar to those of the company.
Page 42