2021-12-31-accounts

Docusvjn Envdope ID.. 4909E2sE-62A246tts81￿C1o8F73216h8 REGISTERED COMPANY NUMBER..02472345 REGISTERED CHARITY NUMBER.. 803008 ROYAL ARTILLERY MUSEUM REPORT OF THE TRUSTEES AND FINA14CIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 •ABE21XYX* 10r2022 COMPANIES HOUSE

Oocusign Ewelope ID.. 4SIJ9E25E2A246CXM18&C10W3216A6 ROYAL ARTILLERY MUSEUII CONTENTS OF THE FINANCIAL STATEMENTSFOR THE YEARENDE031 DECEMBER 2021 P8ge Chairman's Report Report of the Trustees 2105 Report of th• Independent Auditor5 6t09 Con501idated Statementof FinancialActNits 10 Consolidated Balance Sheet Balancé Sheet 12 Cash Flow Ststement Notes to the Cash Fknw Ststement Notes lo the Financia Statements 15to28

DooJSign En%%lop¢ ID". 4￿9E2SE42A246ots4la&Cl08F73?16A8 CHAIRWN'S REPORT FOR THE YEAR ENDED 310ECEMBER 2021 F01h￿i￿j the intsn5e di￿￿￿M￿lt ai the lateTAiththa•rd oflhè of larwj at AJn Canp Wtst and the rtsuttant loss of the Swindon aThJ WItshi￿ Local Enterprise Parlnership grant of £1.35m in mhl-2020. 2021 has been a perio(J of refiecth?n T￿latiOn as the chanly has sought to deal vthh the reperojssions of the AThny s deosion. It has been reassuring that the Regtymen¢ has rwnained fim)ly rJ)mnytted to ddwirs a rthv hort￿ unique fyJlecb"on near Larkhill. work ￿ this h85 hay to F4ay fidd￿ to debNering a the58￿ adjustment to the stora9e of the c￿llec￿lOn over the kst twefve rnnths as ofthe eX1￿1￿j required to ￿ w&ated foroth¥purposes. Th¢ rnove tyjt of th8 rnaTrJr stw ILKation in lh8 SC4efi￿ Muswm sit8 al Wroughlon was ojfflpleted on budget in the Spring folthn9 an amourrt d kwaratory ty the RAM staff and volunteers. supported ty excellent cnntractor 5UPPYJrt. All the mre rrodem. Iwger artefxts ￿re rrthied into hang￿$ on the Netheravon Airfiehl Carnp wh RAM has secured on a five yw lease. 8￿mIe tIEse harya￿ on an wea of har( Stsnd￿g the charity has finally been able lo brirwj b￿k under its con¢rol ovw frfiy Kxeces vthi¢h haj been St￿Y in the open at the Easl of England Military Museum for overfifteen year5 IfolkThbing the Th)ve (yJi ofthe Rotunda in W(th￿Ch). Boxed rtem5 Isorne 100 pallets ￿rth) were moved fr(xn Wroughton to a temrmry ￿LI1￿ area in Larkhill Camp. In L1ue thuse ￿11 be move# into the secty new storage location in Ihe Road Haroar5, wthich have a150 been 5ecure¢ on a fve year lease from some pjint in 2022. and which will a150 house RAM'5 offi￿5 and conservat￿n workshop. Wroughtub was hatthd badr to the Soence Mu58urn in gcL¥J order nne(L The tough finaroal dw"svJrts frKced on Ihe RAIA board by the of txoiecled vtsilor irKxMne Ifrom 2022} meant Ihat balanced core operats'crol bu¢W wa5 deS￿ned an¢J deh"vered lor 2021. ThKs vtss sup￿e￿￿ted by extemal grants arxt assistarKe wth projects by ￿>th the Rrfirnpml and AMOT en8￿￿ a of ￿"￿ts"Es to be undertaken induding the rnaior WW1 dwJitisalI￿ programm8, an oral history propx, and ConSe￿ation and archive devdopmenl work. At the same Iimts Inrti￿ wy1[ to i(lentfy a w ste fw the futfft mlseum has undertaken wlh the Amiy land others). and a fu11 site opt￿5 ap¥ai¥al w•ill be oeied in 2022. In paralkl this. orth for Ihe initia muswrn project are bw.ry devekJpe¢J. attepb.ro Ihal wth fuTh1iThJ and high bu￿￿1r8 inftatKM rates. ouraspirations v•ill reed to be 8bJnrficanily rnore rn￿t than thLKe fry A¥on Caffp We5L The intent 15 to have FiAM and rwJirnental &Jr8ement to both the inth"￿ pKyed and preferr8(J site by lattr2tr22. In conchJsion. I W¢￿Id b'ke to reo)rd my grnMLKJe ity the7AYxk of the b)d atyj thè 0)n￿￿jbtirt trustees hève made to the tharity's actNIt￿$ dunng a busy year in have cwne io lerms w•th the loss olAvon Camp Wesi and initiated Ihe KcJuciion ol new plans while ￿$0 seoJriNJ acce￿a￿e $tor•Je solutKJrts f( the next five years. I ￿Uld also like to place on re¢ord onc£ again thE board's appreootiw of the woth and achEvErnBnts of ihe teduiEd Staff have delf¥e￿d well beyond eXp￿tatiorS over the last twefve Tr)nths desi*te the tu￿￿1 caused by Covhy tht eXtraCt￿n from Wroughton. JI has been a fantastic effort. Thetnjstees. staff Volunt￿ remain very rn￿h fo(ws&J on delivering a new. sustaina￿• home for 8 unique and natK)nalty important colle￿10n near Regiment's home on Salt5bury Plain. at th8 same time as adthe5sing a number C￿ ￿￿j.rUnrun9 man4wwt defiowxies whth stretch back to the Firepmr daJ3.

Docusign Enwlope ID.. 49O9E2SE2A246￿81B￿ClO8FrY216A6 RepoRT OF THE TRUSTEES FOR THE YEAR EIIOEO 31 OECEIIBER 2021 The trusiees are also dirax￿$ ofthe chwty forthe wrr#)ses ofthe Cornpan￿ Aci 2C#J6. present thwr ￿[KIrt ￿ the financial stateffl￿ts ofthe thanty for yearerKknJ 31 D￿be1 2021. The re￿rt aLw incorporate5 the director5, report as required by cnmpany L4w. The Irustee5 have aS¥ted the wowlsi￿￿ of AcxxNJnting and Reporting by Charities.. statement of Reojrnmended apphcabbe to (hwilies prepariro th'r ￿t￿nts in tLo)rdarK£ %%ilh the Finanual RepclirJ Slandard 4¥Aic4e in the UK ￿ Repub￿ of Irdand IFRS 1021. OBJEcnvES AND ACTIVITIES ObJtctl¥es and ￿rnS The otyec¢ives of the Ch￿tY are to prov¢de a museum, arclwve ￿ litwary. ￿ raise funds for lutur8 museum developrnent. in tsréerto educate the aThJ mwmters olthe Rgjimwi in its htstthy and Irad￿"0n$. These objecb.ves requir? it to iJeAop. ¢￿SerVe a￿j car8kn the Arts C￿n(￿l ETrJL8nd desp3nat￿l r¥llect￿. Folb￿ng the s cl the leasthjld properbEs to Ihe Royal Bmgh cl Greenwith in Nry•wnber 2015 the rnu5eurn ¢n cfosed to tho public w 8 July 2016. The ¢•W ￿pts frrxn trm's Salt. tc¥Jethw writh any future recwpts from fund raising activthes, knill be ftrinvested in the develoNnwt of a new ￿￿￿￿euM near Lthill to the Royal Artillery c￿le¢bon. Publlc benefftt The tru5tee5 ￿ri￿n that they ￿ relw[￿l 10 the Ctwity c￿￿mISs￿)n¥ guid￿0￿ PutAic in ¢Jeoding 8¢bwtie$ t￿Ch￿l8￿￿ ￿panY sh>Jld underte in order trj wieve ts aims and ob￿￿1¥e$. The fLrture Museum wll prmte public benefit by effectFve, interestif¥J a￿￿ accessible ithsp ofthe hitage of the Royal Regiment olArbl thrrKoh the apprcyiale Wewlati￿ of artefxs indudiNJ ali1￿ry piec￿ of national and inlernaticffjal Importar￿8. 11 v•ill kXD¥ide 3 Source of irv￿rnth lorth05e pur5uirvJ educaion. sttthhp and r95earch on matters r4ating to the RegI￿￿t and in wera. anne¢ ￿nSerVO￿.0n that safeguards the cdlecbon, and a progfwnme olgathering in the Regimenfs history lin its broad85t sensel abo dehvefeL1. ACHIEVEMENT AND PÉRFORMANCE Review of DevelO￿ents The museum continued to enjoy SUPFKKt of its maprs¢efwJders ¢JurirKJ 2021. suptk)rt carne pnrKapally from th• Mini51ry of Defer￿e additic¥)al sUp￿rt r￿1V•1 the lihE ofihe Colletitr)) and tf RAI. The main fotsjs of th8 ￿e(￿￿7$ le￿ the thè reb¢aiwm olthe stcrfed in Wroughton to Net Avw Airfidd and Larkhill can¥>. 85 zs the(￿tiN￿￿ rgStryh￿. conservats.on remained a key Q¥KWilh the wwirDnmw of the store5 bery dosety rThNtored paibtsJlty re5P8Ct to Ser￿lts"ve rtems in the ccAled￿. The Museum wnbnLd to ben8fitfrom the expwbse wovthj rxynnNtt￿l Board ofTrustees, chawed by Major Genernl Niek Eelè5. Page 2

DouJSigTh Envelope ID." 4￿gE2sE￿2A246Cts818￿108F73216A8 REPORT OF THE TRUSTEes FOR THE YEAR EIIOEO 310ECEIIBER 2021 FINANCIAL REVIEW Grant In¢orn• The muswm Contin￿d to benèfit fnm th8SUWIrt dits maFYsI•l￿. W￿￿jirrfj the Mir4sty of Del￿￿ wh05• contribubons have totslled over £29J.¢XAJ. Investment Poll¢y and Cash Balances At the year end the charity heh4 cash balan￿ of £110,125 {2020 £127,270). In 2017, the t￿teas tc¥Jk thè ¢¥eosion tts invest the maiotity of (ah funts so thal these can t W(J t(rrards IhefuThYirg Of￿ museum. vthils¢ generating a retum in Ihe meaniime. The tsu51ees considered [¥￿t approwwte for inv851ing and put in an investfflen¢ policy which does not n5k the In¥e5ted t?￿tal surn and vknith 15 5uffiLienlly Iyuwl to rneet the prograrnrne's cash requirernents. The truslees derided that the chwity wnll rrt)t invest direcuy in any organisat￿n whose rnain acb¥ty is the pfe(luthon oftobacco, roreotts or wrncvraph￿ matwial. the or en￿1r0 of gamblirKJ. wvi8K)n ol home credit {d￿r5(ep lendir¥Jl orwhK uses Chi￿ latrnur t¥ othw exWtatsve empk)yment rKJioes. In order to rw ¢h95e obJeclNes. fv FinarKe I￿Sk Commthe Iw I)￿ tJelg3ated responsibilrty for Qvw￿lng the Inve5trnents. Th• chty has ¥1￿￿ted sto(brckn to mywje a dNW5Th8d of suite wwestrnents M a discretionary ba8i8. R•srnes pollcy lthr95triLled fund5 ￿￿U￿ted to £2,442,482 {2￿) £2,244.￿?). £2,387,743 {2020 £2.181.6841 15 fr88ty awl¥bl8. RtseNes hdd forthe pury>Jse OffU￿11r￿j day to day ￿ r4xla r•]Lrements and to funding for the n8W MuS￿M. The PDlicy is to the free r85wve5 avawe tortr fwKthrrfJ nth¥ rnu5eum throLsh ca￿[U1 u)rtrol of the day to day ￿rkiThJ ca￿tal requirw￿. Risk Management Poli¢y The board's Fl"sk Mana9ement Group nwts re￿aty to risk asstssrr)t This covws five main areas." Gov9Jnan￿ and Mwjeff￿nL, Finanoa. 0[wat￿n￿. E￿￿￿n￿Al8VtXtwnaI fadors Curatorial. Eath rk8k is rated a(yxsrding to its likelihood Wen11￿ irn￿ a rsk repjrt is presentad to the btsard on a regular basis. Thi5 5d￿u￿ wll be regulwty we4bed and Ukx1ated then arrfwole. Durin9 the transItiC￿ pwK)d. FiAM be uThJwtAI9 a Thiew of rwatiThJ wrKedures to ensure tsr o)ntknued t￿￿cY throughout Ihe Environmental Poliey The boar¢ bdEves thai all busirsses are restYtsible for PJMronmental pradKe operating in SUStainabl8 fflan￿￿. The is therelore committed to redwrrfJ ILS enwwonrnenta I￿￿1%1 and ojntinualy improvry its enVirOnft￿n￿ perforMa￿e as an inte9ra and furth￿￿18( pwt of its tKtsine55 stra¢Wy and operab'ry mell￿d$. Trading $ubsldlary The charitys wthslly oned trfirMJ IRoyat MUs￿rr￿ (Enterwses) Lirlltedl ceased ¢0 trade on the dosurè ofthe museum. The trustees will con5i(Jerthe"rlulure pl￿$ fc¥the Subs￿lary during the period before the new rn￿9)rn Ys 9slablishe(l. DurirwJ the yew Ihe sul>sKli¥y was unab to th￿918 prrfts to Ih8 th•iy. STRUCTURE, GOVERNANCE AND MANAGEldENT Govemin9 document harity is oytrolled by its g)vemiTrJ (k)wmrt ￿ MwTr)rarylum aTrJ ArlKgos ofA5soriabDn. and con51itut85 a I1￿Mied company. limW by 9u¥th. as tjefined by the Ctynpani•s Aci 2rA6. Charity constitutlon The CLJmpary was Inc4)rwa￿J (m 20 Fet￿U￿ IWI as a Iwthl by gU￿ante& nurnbw 2472345. wos sutfjequgnly regsiwgd W￿1h the Chanty Crynmi5siw under Ihe rgJrstsaticffi number BO3(￿, w 9 Marth 199). The registe￿ offir* ofthe CoM￿Y Of￿ u￿r￿S threxaors arn1 nar￿ and address85 of ofessN?nal advisors are gm￿ bekw4. Pay3

OoGuSh3n envdope ID.. 4909E25E42A246oN1￿lo8F73z1fjA8 ROYAL ARTILLERY Museum RepoRf OF Trle TRUSTEES FOR THE YEAR eNOEO 31 OECEIIBER ￿21 Induction and training of nv truslees New director8 e prowded wilh a o)py of the and tKle5 rf ass￿181￿ an(1 infomd of 11)eirobligatio under W1)p￿ and chanty la. All th"redLYS we ￿ to )d ¥prwate ujurses which may a5SiSt thern to carry out th•'r rcle. Key management remuneration The Compan￿5 MemoM¢um ￿ th.des d ASS(KF￿ p￿￿Je the dire(knrs from let￿￿j any rernun9rat￿ f their role astyustets. Fu￿1valson9 Standads The chwty Th)1 ￿nY wnifKWt i¥iy to raise I￿19 frrmn the REFERENCE AND ADMINISTrATIVE DETAILS Reglsteved Company nyrnb•r 02472345 Registered Charfty number 803006 Reg581ered offl¢¢ ArtsI￿ry House Arts"Ikry Barr SalisbLry England SP4 8QT Trustse8 Major G8nw Nir Eeles (Ch•￿nan) Graham Beal G¢een4%t)d Simon Hwkes Pgter Wragg James Bames Mark Milligan Susan Tapliss Peter Carson Peter Thompson Karen Peek Resigned 14112r2021 Company Secretary Sonjeev Sel¥Jta Auditors FiaThJer To¥ell Limite Stag Gales House 6W The Avenue Southamp¢ Hampshire S017 IXS Bankers Lloyds Bank PIC Busines5 Banking SeTh¢ee Centrè 3rd Floor 10 Boolh Street IAanchesler M2 4AW P•¥4

Docu&gn Envelope KJ.. 4909E25E42A246tXM1B8Q108F7321&48 ROYAL ARTILLERY IIUSEIIII REPORT OF THE TRUSTEES FOR ThE YEAR ENOED 31 DECEM8ER 2021 REFERENCE AND ADMINISTRATIVE DETAILS- ContIn￿d B•nk•rs Icontirydl Lloyds Bank PIC 19121 Powis Street w00￿1¢h Lcty)¢Jn SE186HZ InTn51mvnt m￿age Br￿n Dolph 12 Smilhfielj Str8el Lond EC1A Solicitorn Thompson Snell and Passrrnre 3 Lonsdale Garijens Tunbridge Wdls Kent TN1 1NX statement of trust¢e$' responsibilities Ttretrl￿teeS are 8Ls0 the di￿orS of Rora Artil MuwJm forthe ￿￿pOSe$ of(¥JYwy law) ar• resrMitle preparing Ihe fIn￿rial stemenls in appli￿￿18 la and Ac4)xuthng Stsndard5 (United Kirydom Generalty Ac¢epbJ ACwUnti￿ PrnJice}. Company law requires the Irustees to statwnwts finwKial year whth 9i¥e a true and fwr ol Ihe State of allairs of the ¢hwtsble cfjmpany aThY the inf)%fMNJ resources and applw>tw of wources. Ind￿11￿9 the incx)me an￿ exwth"Iwe. of the chariiabfe (xxtwny lor that rv1￿. In preparirg t￿8 finan￿ statements. the wuyedto selectsvitableaccounting policies andthenapptythemcx￿slstenlty. observe themethtyjs and prinoples in thecharity SORP,. make jud9ement$ estimates that a￿ reasonabk and wjent". prepa￿ finaK4al stateM￿ts (bn the wng o)rwn basis unkss rt is inapprowate to p￿Urne Ihat th? chwtable uNnpany wll ¢xJnb"nue in twtsiness. The tntstees are res[visi￿e for F￿)er amJntirnJ record5 dtsrJc6e ¥fith 1eaX￿ab￿ accjjracy at any lime the finart4al of the ¢haritat4e c(xmpwy and lo enat4e them lo enswe that the ffinancia statements ts)rnpty ￿1￿ the Ccfflpanie5 Act 2￿. They a￿ a150 for 5aleguarding the assets of the charitatye rnpany and ￿nL% for iaknng reasone sw forthe and det&ath of frajd OlherirrwJultties. In so far as Ihe Irus¢ees are aware.. there 1$ no relevant audit infonnab.on of whycti the ¢haTitable companrfs auditor5 are vnaware- and Irustees have tthen all steps that they ougm to have taken to make themsefves Are of rdevant audit inf0m￿tIon lo sstatthh that th¢ audi￿5 ar¢ aware of Ihatinfwnabon. Audito FianderTovdl knrn6ted are lewne(J to ￿ r+arwnteJ urKJer 487121 (rf fv Companw Act 2(Th. This ￿tKIrI has kryOr￿ in a¢oNdm ith the spgial rdatir¥J to srnall r3)mwies within Part 15 of th8 Companie5 Aet 2006. Approved by orderof the tKTrard dtrusi•es on 281912022 1 11= 27 8ST and signed on ils behalf by.. Sonieev Seh)ts company $￿etary P4eS

DocJJSvJn Envdope 10. 4WgE25E42A248tWlWC108F73216A8 ftt)YAL ARTUERY MUSEUIA INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ROYAL ARTILLERY IAUSEUM FOR THE YEAR ENDED 31 DECEMBER 2021 Opinion We have audited the finarlial statern￿ of Roya Musami lthe'parent than18b￿ o)mp8ny'l and its Subs￿larIeS Ithe'group'l for the year ended 31 Lxynwsethe statement offinwxyd actiwties. the balance sheet. Ihe staterrent of c2sh flv•ts an(J TM)tes to the finanri81 statements, i￿lu11r￿ a summary of sKJnrfKanl accounting poliues. The financial rewiting framth%wk that ha$ been ap￿1￿ in thor preparat￿n k% aOicable law and Unrted ￿ngdoM A￿)untIng Staidards, induding Finar￿1 ReFth"ThJ sta￿ 102 The FinwKia Rrfth"ng Slandwd apFI1￿blo in th8 UK and Republic of IrdanLI Ivnrted I￿"r￿￿(X7I Genwalty AcCqJi￿ Alwunl'ng Pracli£¥). In our0￿rri￿ the fiwKaal statwts: give a true and lair thew of the stale of the group's and parent thaiitable cowny's affairs as ai 31 De¢￿ber 2021. and ofthe group's Inc￿ning resourcs and aFVi¢ation ofresourr& indwl¥wJ its income and ewi&iwe. fortheyear ihen ended: Basls foropinion We o)ndua&J our ￿lit in ￿r￿arKe ¥rtth Slandwts on A￿jitI￿j IUKI IISAS (UK}I wd icatle law. Our responsbilities under those stand8rds are lurther dexvbed in the Auditors responsibilities for the audit of the finanaal statements secbon ofour report. We are ¢Alhegroup arnj par￿t (thritstle (ompany in aco)rdance the ethical requirements that are rekvant to our audit of the financial staternents in the UK. Induding the FRC'5 Ethical Standard. and we have fu￿l￿d tyjr otsr dhi¢4 resFoisitMlils in %%ith these requiwents. W¢ bglieve that the audil he obtsird is ￿ffio8nl arwcwaie to prDvth a b8515 forour O￿niOn. Concluslons velatlng to concern In auditing the financial stal￿ents. we have 0)￿ude￿ trustees. ￿etsf the gory l)asis of ￿tsuntI￿j in the preparation oflhe finanual statemerts is 88sed on the ha￿ pwlwrnBd. w8 have ml I￿￿tified ary rnzlerial unfxrtanties rdatiro ￿ events or t£nditions that, individually or collecbvely, rnay (xst $19nificanl doubt on the group's or parent chantable coFnpany's abilrty to g)ntinue as a wn9 cortyn for a periL¥J ofat ka5t ￿)nthS l¥ryn finan(a $¢aiefflwt5 are thrised for issue. (kjr reS￿r￿1￿1th5 and the re$F#kni￿ties ofthetntstees resp8Xto rx￿rn a￿ descri￿ in the rdevant seclitrts of thi5 rqlxi. O¢hor Infonnatlon The tru5tee5 3rg re5wnsble for the otrw Ithrn￿. The othw ir￿￿rn￿on c£¥T￿n5e5 Ihe infTh7nab"on included in the trustees. annual report. other than the financial statements and wr audrtol$ report Ihereon_ t)Jr opinion on the finanaal staternents does mt cover the other inkknwh)n and. excepl to the ot￿7$ •X￿1C1ty State¢ in rAJr ￿port, we tjo not exp￿5 any forrn ofassuran c£ndu%cn therwn. In ojnnecthm w￿1h pur8Lw51 of the fir￿la1 statern￿. our resP￿SItx.￿ty is to re•J the other irfomty)n and, in ¢hJing so. o)nsider whethw the other infrym&￿ is mthally Ir￿￿61$1￿&t th Ihe financial ements or our knovledge obtained intheaudit cf oth8rwseappearsto be mwialty missta18d. ¢dwtysLth materia inc>)nsistenoes orappar￿t material mk%statemen¢s. we are required to deterrAne Wthttether thwe ts a rrisStat￿￿1 in the finanraal $tatwnents or a material Miss￿1￿ of the cthr inI￿rT￿l￿. V. based on the we have F￿￿rnad. we w￿ude that there is material rrwsstsiern￿t of Ihi¥ otsr infrymakn. a￿ to r•Frf(that l We hav• rnthiry to repyi in Ihs rg3¥d.

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Dowslgn En¥dope ID". 49o9E2SE-62A246￿818￿clO8F73216AB ROYAL ARThLERY Museum INDEPENDEPIT AUOITOR'S REPORT TO THE MEMBERS OF ROYALARTILLERY MUSEUM FOR THE YEAR ENDED 31 DECEMBER 2021 Extent to vknich the audit was considered capable of detecting Irregularities. including fraud Our approach to identifyin9 and a$se$sbng the risks of ￿￿er￿1 missiatervent in respect of Irre9ularibes. including frau¢J and non-compliance wilh laws and regUlat￿n5. was asfol1￿-. th• eng￿ernent partner en$ure(l thal the engageme￿ team collertNely had the appropriate com￿tn¢e, capabilities and skills to identfy or recognise non-compliance with aPpI￿able laws and vegulations. wo I￿en￿'r1ed the laws and re9ulalM)n5 applicableto the o)rnpany through rjiscussions difectors and other management. from our commercrdl kntrwle(19e andexperience. we focused on speofic laws ￿lj reguktions which we consw1wed may have a direct material effect on the rinancial statements or the Operat￿n$ of the rx)mpany. indudin9 the Compan￿$ Act 2006. taxab'on legislation. L1ata protecknn, empkjyment. environmental and heamh aThL1 safety legislation. wg assessed the extent of compliance ￿th the laws and re9ulatton$ ￿entir￿ed above through making enquiries of management. We as$e5sed the 5usceptitm.lrty of Ihe compan￿5 finants￿ ststemBrts to matorial mi5$tstement, inth¢iwJ obtaining an understanding of how fraud might ocojr. by". making enquiries of management as to vthere they considwed there was suscepb"bilty to fraud. Iheir knovledge of actu. svspected and alle9ed fraud. consideiin9 the inlemal ￿ntrOl$ in place to rnibgate risks of fraud and non-compliance with laws and regulalK)ns. Audlt response to risks Identlfi¢d Toaddréss ihe riskolfraud through manayement bia5 and ovwide ofcontroLs, we.. P8rforme(J ￿alyt1¢al wocedures to identfy any unusual or unexpected rdationships. lest¥J joumal entries to identrfy unusual transactK>ns. performed transaclKJnal testing on payroll costs in resp￿¢ of those empK)yee$ with responsibility or authority in conne¢lion with the payroll fun¢tirin. assessed whether judgernents assumptK)ns mad? in deterniniThJ Ihe accounting estimates were indicative of polentbal bia5. investKJated the rationale behind srgThficant or unusualtrawcliorts. In fesponse to the risk of irwUla￿ieS and non-￿mplI8n¢e with laws and regulatwjns. we desw)ned proc8dure5 vthich inclut1ed. but were not limited kn.. agreeing finana31 stalement disdosures to underfying SUPPOrtingdDCLmentabon. enquirin9 of man&3ernent as to and polantial ltyatw anddaims. Thew are inh•rent limitatKns in our audit pr￿edureS described above. The more removed that laws antl rgulations a￿ from finanual tran5athK)ns. the less likely it is that we wouKI become aware of non-compliance. Auditing standards also litnit the audit pr(￿dureS reouited to Kjentify non-0)M￿lanCe with laws and regulations to enquiry ol the directors and other managernent an(J the inspection of re9￿atOry and legal correspondence.rf any. Material misstatements Ihat arise due to fraud can be harder to detect than Ihose that 8ri$e from error as they may involv¢ deliberate concealmenl or cd1u$￿n. A further des¢Jptkn) (rf (v for the a￿)rt of the finanria stat?7￿)ts is Socated ￿ the Finanoal RewliThJ Coun£￿,5 ￿bSrte at. ￿￿.fra0T9.ukJaUd1t0r¥esP0n$￿￿th5. This desrytion forn￿ part of ow auditorfs report. Pag28

ROYALARTILLERY IIUSEU INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ROYAL ARTILLERY MUSEUM FOR THE YEAR ENDED 31 DECEMBER 2021 Use of our report This report is made sobly lo the charitable ¢￿pan￿S members. as a bcKty. in a¢¢ortlance Chapter 3 of Part 16 of thè Compan￿$ Ad 2006. Our audil work has been uTrJertak¢n so that ￿ might state to the Gharitable wmpanls trustees those matters we are required to state to them in an audrtorfs ￿port and for no other purpose. To the fullest extent permitted by law. we do not accept or assunE reSpr￿bIl￿ to anyone olh¢r than the charitabt? cornpany and thtr charitable wmpany's trustee$ a$ a body. for our aLKlit work. for this report. or for the opinths we have fomwd. ., ar- (aL L, ,1 31,.[22 Andr•w Jay ACA FCCA Isgnlor Statutory Auql for and on behalf of Flander Tovell Llmlted Charter•d Accoub)tants Rogist•r￿ Audit<) Stag Gates Hous• 63ffj4 The Avenue Southampton Hampshire S017 1XS Paw9

ROYAL ARTILLERY MUSEUM CONSOLIDA TEO STA TEMENT OF FINANCIAL ACTIVITIES {INCLUOING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNTI FOR THEYEAR ENDEO 31 OECEM8ER 2021 Unre$tricted Restrictsd fvnds Funds 2021 Total funds 2020 Total funds INCOME AND ENDOWMENTS FROII Donations and legaciès Charitable activities Othef trading activities Investmenl incorr Othei Income 93273 294,627 387.￿￿ 368.492 9,450 154280 9.450 154.280 14.OC(s 146.082 171 Tot￿ incom• EXPENDITURE ON Raising funds Charitable 8Gtivities 551 122 Totsl Èxpenditurè 551 122 Net gaIn￿(lo$S8$} on inv8strnents 197.613 197,613 14.0021 NET INCOMEIIEXPENDrruRE) 10 198.121 198.121 1182.100) Trartsf8r t)8hv8en furKIs NET MOVEMENT IN FUNDS 198.121 198.121 It82,1001 RECONCILIATION OF FUNDS Totsl funds brought forward TOTAL FUNDS CARRIED FORWARD CONTINUING OPERATIONS l income and expen¢Jiture has arisen from coniinuing activibes. The notes form part of these finanrial statements Page 10

DoGuSign Envdope ID.. 4W9E25E4W46fJM18&C108F732164 CONSOLIDATED BALANCE SHEET FOR THE YEAR ENDEO 31 DECEMBER 2021 Unre8tsici•d Restricl•d 2021 lunds Funds Totsl furrfls 2020 Total funds FIXED ASSETS Tangible asset5 Investments 15 16 31.838 31.838 39.777 2.354,827 2.2￿.fj25 4,635,452 4.411.043 CURREMT ASSETS 17 18 51,070 12 51,070 55.153 127 Cash at twk and in hand 18242 CREDITORS ArTrJunt falliThJ d￿t￿lIhIn LwEyear 19 NET CURRENT ASSETSIILIABimES} 113943 NET ASSET&IILIA8IUTIESI FUNDS Unr8stricted funds Designat￿ fund5 Reslncted fund$ 2.419.582 22.900 2.221.461 22.9)0 2 280 625 TOTAL FUNDS These finanLyal statements have been prepared in ar£IXdar￿ %ith the 8pgp* of P&115 ofthe Cwpanies A(12TrJ6 rekb.rfj ￿ small tharitable c(mpan￿. The statements wwe appro￿1 bythe 8oard ofTrustees on 2819/2022 1 WI￿[￿jned on its behaw by.. MCL OILS MajorGeneral Nick Eeles Chairman and Director Graharn Be81 Director Pa9t11

Docv&gn E￿I¢ve ID.. 49]9E2sE42A246[￿%￿cl08F73216A8 BALANCE SHEET FOR THEYEAR ENDe0 31 OECEIABER 2021 2021 Funds Total lunds 2020 Total funds FIXEO ASSETS TaThJible assets Inv85trnents 1$ 16 31.838 31,838 39.777 4 371 268 2.354.829 2.2￿.fi25 4.635.454 4.411.045 CURRENT ASSETS DebtOTS Cash at bank and in han 17 18 51.070 51.070 12 55.153 127287 161.195 161,195 182.440 CREDITORS Amount falling d￿ ￿Tthin ort 19 79 842 NET CURRENT ASSETSIIUABIUTIESI 107658 TOTAL ASSETS LESS CURREI UABIUTIES 2.436.182 2.280.625 4.716.807 4.518.703 NET ASSETSIILIABIUTIESI 2.436.182 2.280,625 4.716.807 FUNDS Unrestricted fuTrJ5 Oesignated fun(J$ R¢stllGie¢J fur¥J5 2.413.2K 22.￿ 2,215.178 22,900 TOTAL FUNDS 4716807 These finaroal staternents have been prepared in axord8nce ¥￿th Ihe speud of Part 15 dthe Cornpanies Act 2(M16 rebtiTrJ to smal thwrtaiMec•mpw*. Th¢financaal Stat￿entS we aFprovgJ by Ihe eow(l of Tntste85 on 28/912022 1 ]4￿￿￿￿9ned on ts ty.. Major General Nick Eeles Chairrnan and Director Graharn Beal Director Pap 12

Docusw Envelop¢ ID". l￿gE25E-62A246[Kk8I8Klo6F732IGA8 ROYAL ARTILLERY IAIISEU ¢(XISOUDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 OECEMBER 2021 2020 Cash generate¢ fromllused by) Operat￿n$ Interest received Interest paKI Net cash pro¥lded byl{used In) oyratin9 Xtivilie$ {132.123) {374,Wl Cash flows frorn invvsting activitles.. Purchase of tangl￿e fixefj assets Sale of tangible fixed assets Pufchase of Invesiment$ Proceeds frorn sale of investments Investment income {4.5681 1747,3201 587.042 1763,3441 1.111.848 146 Not cash provided by {used Inl In￿Sting a¢tiviiies Cash flows from ffi#anclng aeti¥llle Repayrnent of tank loan Repayment of rèpayaNe 9rant Nel cash provided by (US￿ in} flnanclng actlvltles change In cash and cash •qulval•nts lrn th• f•POrtino perrod (142,6891 119.617 Cash and ¢•5h equivalents atth• beglnnlng of the reporting petlod 341 268 221 Cash and cash equivalents atthe end of the reportlrbg period The notes form part of these financial statements Page 13

Docusign Er￿knpe ID." 4909E25E-62AZ46LXP81W108F73216A8 ROYAL ARTILLERY MiISEUAI NOTES TO THE CASMFLOW STATEIfjENT FOR THE YEAR ENDED 31 OECEMBER 2021 RECONCILIATION OF NET INCOMEIIEXPENDfruREI TO NET CASH FLOVI FROM OPERATING ACTMTIES 2020 Net incomellewndilure} for the rtportino piod perthe siaiernent of financlal xllvltlesl Adjusbnents lor. Oepreciation charges Loss/{Profftl on disposal of tangible fixed assets Gain$lAosses on invements Interest and (livTr#ends received Interest paKI tlecrease in stock Decreasellin¢yeasel in tlebtors IDecrease)firK￿ase in eredrtors 198.121 {182.1001 12.507 14,360 467 4,002 1146.0821 {197.fj131 {154,2eo} 4,083 126.312) Net ¢ash provlded byllused In) oper*iny activities ANALYSIS OF CASH AND CASH EoufvALENTS Cash IA hand Bank balances (less than 3 n￿nths) Cash balan¢es within investmenl portr￿10 Ovefdrafts induded in bank loans and overdrafts fafijng due vAthin one year 110,125 127,270 213.998 Total cash and cash equlvalents Page 14

DD0JSion Envelw ID.. 4909E25E42A246DM18&C108F7321&48 ROYALARrnLERY MUSEUM MOTES TO THE FWANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUNTING POLICIES COMPANY INFORMATION Royal Artillery Museum I"RAM"I was incorporatèd on20 February 1990 underthe Cornpanies Aet 1985, asa privatelimiied company Ilimrte(I by9Uaranteewit￿jU1sha￿capitrl)￿j￿ is regisle￿ In ErwJl8nd and Wales. Theregisttrredofficeofthecompanyi5 ArtilleryHouseLathhiM, Ariillwy Barrdcks. Salisbury, England. SP4 8QT. RATrAis a ¢hanty with Charity CornmissK)n registration number 803006. The principal activity of RAM is to provide a museum aTrJ klyary for the exhibilion of artefacts and docvments cornnected with the Royal Regiment ofArtillery. Basis of preparing the financial statements Thefinancial SlateM￿ts orthe (thanW6compwy. is a WAic b￿efit wbty mderFRS 102, We been prepa￿¢ in the Charrties SORP IFRS 1021 'AcC￿l￿ting and ReportiThJ by Chanties.. Statemth ol Recomrywded Prathce to charities preparing their &o)unts in aLwrdance bsith the Financial Reportin9 siwdwd in the UK and of IreL8nd (FRS 1021 {effective l January 2019}', Finanaal S￿da￿d 102 Tr FinarThl RepJrtiTrJ Stwd icable in the UK and Republic of Irdand., Ihe Charities Acl 2011 il CompanB5 A¢t2(K6. The finanaal staternents have been prepared under the historical oist ts)nventM with the eXcep￿"0n of investments which are induded al mathet valve. The presentational fAKrency is £ sterlirrtj ¥alues are ro￿￿e￿ to thg neaf8St ￿lln￿. Going Concern rnzterial uncertaint￿5 about the charity's a￿.1￿ to conbnue as a gThng ccKem. Parent Company dI$¢losu￿ exemption$ In preparing the separate f￿a￿al statements of theparent cA)mpany, Yvant￿￿ has been laken of the followirwJ disclosur8 exemptions.. No Cash flow statement ha5 been p￿ente¢l forthe parent￿rnPany', Di8d0s￿r&S in resped of the pamt LxJmpany'$ ffinan(ial Instrum￿[$ the been pre￿ted as equivalent disclosures a￿ indudetl in ￿pect of Ihe 9rryJp as a wMe,"and No disd05ure has been given for the aggregate rwnvneration of the key managemeni personnel ol the parenlcompany as theirremunerat¥)n is induded in the toials forihegroup as a whole Group Financial Stat•ments Thefinancr81 stateffl￿ts wsolidate Ihe wujts 011hec￿lTrfyp4)d its ￿￿ly(?￿ne￿ Subs￿l￿Y Roya Artillery Museufi￿ lEnte￿se$) Lirnited on a line-by.line ba5¢5. Inwo)mpany and b￿an￿ betsveen the c4Mparwes have be￿ full. A separate Staleff￿t of F¥wnual Acfiwtie5 InoJm& ExwIlitu￿ Atttsjnt for the ¢h¥ty Iws Th)t COryan￿$ Ad 2(Xl6. Fund a¢countin9 Un￿stricted funds can be used in accorL1anc8 with the charitable obiectNes at ihe dtSCX8tion of the trust￿$. Rgstricled fun¢$ onty be US￿ for Partic¥1￿ restricted purposes v4ithin the objects of th8 charily. Restri¢bons arisewhen sperifjed bythtdonororwhenfunlls areiaised forp3￿"¢ular ￿tricted purposes_ Further eXpL8natI￿ of Ihe nure and purpJ5e rl eath indudJ in lo the finarKial statements. Page 15

DovJSvJn Enve￿pe ID. 4909E2SE42A246L>01WIOW3216A8 ROYAL ARTILLÈRY MUSEUM TES TOTHE FINANCIAL STATEMENTS ICOt4TrNUEDI FOR TPIE YEAR ENDED 310ECEMBER 2021 ACCOUNTING POLICIES.C(NID Incom All income is recognised in the Slalement of Finanoal Activitses oncethecharty ha$ ents"Ikmenttothefunds. it is probable that theincome ill be received andthe amount ean be measuretl reliably. Income is the amount den¥ed from ordinary activibes and staled after any Iliscounls and Is net of VAT. al Grant$ Income frorn 9Tants is reLY)gnised. the performance modd. when the charity has entiilement to the funds, any Perforrnan￿ ￿ndit￿n9 8tla¢hed to the grant have l)een sa&"$fied. receipt of Ihe income is probaUe an¢Jthe amount can be mtsasuredreliably. bl Donations Income from donatK)ns ts Tecogntsed on receTPt except where the donation indudes temis and ￿n￿rt￿)￿s. in which ¢ase income is reeognised once any perfom)ance ￿nditsOn$ attached to the donation have been Satisf￿1. cl Legacies Income from le9aues is rt¢ognised whtn the chaiity is •vwe that there has been giant of pffjbate. noitfication ha5 been received from the executors thai a éistribution will be made and any con¢Jitions attached to the legacy have been satisfied. Whefe the charity ha5 been notified of a legacy but there is ursceriainty tothe aM￿nIO(lhe paYM￿L the le9acy is treated as a cnntirwjent asset. dl Investment income Investment income 1$ re(x)gniseLI Then ￿l¥able and Ihe amcwjnl can be Measu￿(1 ￿l1abty by Ihe charity. Expenditure Liabilitses are recognised as expenditure as soon as Ihere is a legal or cA)nstrucbve obli9ation committing the charity to that expenditure. it ts probable thal a transfer of economic benefits will be required in settlement anij the amount of ihè oblwJation can be measure¢ reliably. Expenditure 15 accoiirited for on an ac￿￿a￿ basis and has been classffjied under headings that aggregate all ujst related lo the cate90ry. Wh¢r¢ ￿$ts ￿nn0¢ be ¢iredty attribute(I to particular headings Ihey have been allocated ¢0 acb"vities on basis fxJnsi$tent the use of resour￿. Redun¢ancy or temiinatK)n payments are recogniset1 when there is a legal or eonstrudwe ob1wJat￿Tr. Allocation and apportionment of costs Supporl costs are those functws tha¢assist thework of the iari¢y but do r￿t Oirectly undertake charitable aclivities. Support costs indude personnl. finance. administrative and 9ovemance costs which support lh8 operat￿n of th8 museum and its activities. These costs are allocaled be￿een the cosis of charitable aclivities and raising funrJ5. Further delails of support costs a￿ pro¥id•d in nDte 9. T•ngible fixed •s$•ts Alltsngible fixed assets areinitialy recogniS8d atcost. Individual tangiblefixed a$￿ts ￿l$ting £500ormore a￿ capitalised and are d*préuaied over th￿1 851imaied economic lives on a straight line basis. Lower amount5 are expensed in the year of purchase. Depreciation is prowded ai ihe fdltsvn'rrfJ anThJal rntes: Fixtures and fittirwJs Motor veh 20% 20% Pa98 16

Oow&"w Enveknpe ID." 49)YE25E42A2460M188£IOW3216A8 ROYALARTUERY 1ILK8EUII NOTES TO THE FIIIJ4CL4L STATEMENTS ICONTIN FOR THEYEAR ENDED31 OECEMBER 2021 ACCOUNTING POUCIES-c£xri Investhients Investrnents are I￿ld as ￿ets. The inlwest in Ihe subsKSary ￿￿ert￿{ing is staled at ojst les$ F¥OWSh)n fordirninulKX) in value. Cxherlnvestn￿nIS are irKg¢yJed on the balan￿ sheet at marketvalue. Changes in Ihe market valle of investments belw years are tharged to Slatement of Finarrial Activitie5 a5 unre81ised gairLs and Profrt5 and Ios585 made on the 5aeofinvestments in the year we sho•vn as ￿￿1$e￿ gas￿ an(1 kxses in the Ststwnwt cl FinarKapJ AdNities. Interest on rash detyffjrted wlh banks Investrnenl mar•3ement com￿leS ts induded in investrnenl inc)Jme Dbtor5 Trade and othw debtors are rec>Jgnised al the Settlèm￿ amount due. P￿paYMents a￿ valued the arnount Prepaid. Creditors c￿110￿ are reco9nised Whe￿ thetharity has a Pfesent obligation ￿ultIn9 Irom past events that w￿11 probably result in the transfer of funds to a Ihird party and the amount to be settled be measured oreslimated reliabty. Cash and cash eq￿1Valents Cash and cash equivalents indu(le ¢ash in hand. deposits held at call with banks. oiher short temi liouiij inve5trnents with original maturilies of Ihree months or less, and bank overdrafts. Financial instwm•nts Th8 clwty only ha5 ffinanoal assets financial h"atrfliti'85 of Ihe ￿"nd that qualfy as basic fina)cial inslnJm￿ts. Basic finwtcial instruments ￿ inrtiaty rWIs￿ al tra￿8¢1￿ value ¢Jebt instrunwnts subsetythtty al rxKL Taxation The charity 1$ exempt from c¥Mporation lax on ts dwrilable actMti¢s. Hire purchase and l•aslng commitments Rentsls pamj under operating leases are charyed to Ihe Statement of Financial Aclivilies on a straigh¢ line basis over the pefiod of the lease. Pn$ion costs and other post-retireinenl benefits Thetharrt8￿e c(mn￿YOlWates a ¢Yefine¢ C(mtribU¢K￿ per￿￿ Steme. Contnbulx￿s payabl8tothe chavtsNe ojmpanys pe￿On scheme ** tharg8d to Statementof Fin￿& Ath'viti•s in the period to rdate. Jud4•ments in •ptyino accounbng poli¢ie5 In Ihe application ol the tharrtls accounti￿ the trustees ar• ieqvire(S to make judgernents, estimates and assumption5 about the wing amount of assets and liabilities that are no¢ ￿adIty apparenllrom Olhers0ur￿. The e$￿"mateS aod assooated assumptions are base on historical experience and other facior5 Ihal are co￿￿1ered to be rele￿an1. Actual resulls may Iffer from these estimates. The est?males and UnderI￿ry assumpt￿n$ a￿ reviHI on an ongoing basis. ReVis￿nI to accounting estimate5 ère recognised in the period in which the estimate 15 revised where the revIs￿n affects only that perKJd. of in Ihe pe￿￿ ol Ihe rèvision and lulurè periods where the rgvisJn affects both currenl and future period$. In yeparing these financi￿ sM•ments th8 Iwu5tees have made th• loll¢)wng judgements.. Detèrmining whether incgNnè is restFiCted or unwestricted. ThÈse decisions depen¢J upon the whetrerthe donor has gfven theinc<me subject to certain terms orconditions which impose a re$tricbon intlU5tL3W. Deierrniningtheallocation of SUpportc￿$t$ t9activit￿5. These dec$5ions depend uponwheth¢r the r￿stS can be dire¢Uy aitributed to an aclivity or Shared behveen SpeCrf￿ activities. Th8 belance of costs are apFKxboned be￿n lheactNi￿8$. Page 17

DOQJS￿n En¥eW)e ID.. 490W5E42A246Ck%818K108F73216A8 ROYAL ARThLERY AIUSEUM NOTES TO THE FIMA14CIAL STATEME14TS ICONnNUEOI FOR THE YEAR ENOED31 DECEMBER 2021 DONATIONS ANO LEGACIES 2020 OonaiN)ns Lwyes Grants (see 7.926 1.892 24,900 78 974 Grams retiv•d. in abrNe. knlry•S.' 2021 Tolal X120 Tolal Unr¢gtrl¢led Restsl¢ted Royal Anillery Institub" Ministry ot Defence Grants from RAHC {from RAI arwj RAHT) RAHT NLHF- WW1 funpnl 9￿3 Covid-19 grants 294,627 294,627 287,848 38,250 2,LN)O 49.(IXI In 2020. £287,848 of we restn¢￿. JI L*r (k￿￿IK￿5 aThJ Lmreslri4Xed. 18

Docusign Envelope ID.. 49O9E25E42A246c¥>81￿c103F732lGAe ROYAL ARTJLLERY IILL8EUM IIOTES TO THE F4ANCIAL STATEMEPITS ICONTINUEOI FOR THE YEAR ENOED 31 DECEMBER 2021 INCOPAE FROM CHARITA8LE ACTIVITIES 2021 Tolal 202 Vssitcf iro)m• EducAkY) and OThER TRADING ACTIVITES 2021 2020 Loans incoff Tradirg oper 14,CtsJ INVESTMENT INCOME 2021 2020 Investment F￿rtf￿10 income Deposit account interest Other interest 154.279 146.079 6. OTHER INCOMÉ 2021 2020 Olher income Profft ¢)n disposal of long leaseholds 171 P￿19

tkxu5igTh Etrwelopt ID." 4909E25E-62A246Cts81W108F73216A8 ROYAL ARTILLERY WSEUII MOTES TO THE FINAIICIAL STATEMENTS ICONTINLIEOI FOR THE YEAR ENDED 31 DECEMBER 2021 7. KAISING FiINDS 20 2021 2021 Total 2020 Totsl Ral$lng donatSons and 1ggad•o Fund raising Public relatsorts and mark8br¥J Tradlffj: Costof sal•¥ othermsts Cost of sa Repairs an¢ Maint￿¢ Public r￿at￿5 and mathets.ng ht heat Suppjrteosts CHARITABLE ACTMTIES COSTS 20 2021 2021 Tot•1 2020 Total Collection management Staff fAxts Motor and travel Conser¥ Storage Packir Tran5POrt Support costs lrnle 9) 122.975 122.975 5.240 20.otso 30.833 187.(M)4 11,130 311 73.403 125 5,240 17 89.914 45.618 135.532 98 47 Planning for the future museum Projec¢ man er Project consu taTrcy Architect. strudural and quantity surveyors Planning, Environmenlal and rountl InvesD9aD'on Je rnaT an¢ other IW advKe Exhibilrfjn design Tra¥elling and motor expenses Other cosls Trusteè expenses SuppJrt cos15 {r#)le 91 39.920 39.W20 34.625 168,692 479 81 61 18.331 8.211 3.597 8,211 3.597 3.189 8.958 2.786 47 6LM) Total Charilawe AcMs (

OooJSign En¥elope 10.. 49J9E25E4S2A246WIWIOEFP3216A8 ROYALARThLERY MUSEUM NOTES TO THE FINANCIAL STATEMENTS I¢ONTINIED) FOR THEYEAR ENDED31 OECEMBER2021 SITrPORT COSTS 2021 2021 Unrestrl¢ted Restrl¢t¢d 2021 To¢al 2020 Total Stsff cnsfs and emoluments Staff recruitment and trainwvJ Computer costs De￿I81[0n. other Loss on disros InsurarKe Legal fees Bank interest and chargés Investment ¢x)rtfolio fees Postage and stalh?nery Sundry expenses Telephone and fax Bad debis Accountancy Audrtors wureralK 95,201 95.201 104.470 7.2 12,S)7 7.280 12.507 6,801 14.360 467 18.824 6.500 24.557 24.557 519 17.423 1.978 427 &583 519 17,423 1.978 427 3.583 23,603 2.010 1,258 3.596 5.686 480 10. NET EXPENDITURE 2021 2020 AuditoFs' remunerab"¢)n- F6anderTovel Lea58 r￿tal$ L055 ￿ ¢Jisr Oeprecaatson- wets 7.244 26,167 6.975 58,760 11. TRUSTEES. REPIUNERATION ANDBENEFITS DuriThJ th8 year. folkwTrJ prevJL￿ ￿nsUmatiOn wth th8 Charity¢￿mrn1￿IOn. ttchar￿S chairman invoiL¥d the charty £31.IXX) 12020". £34.6251 in respect ot consultancy services. administrative Supporl and research. The¢hairman not fec8ivè any rernuneratK￿ in resF￿OfhiS role as a tmste8ofthe charity. No other Irustee5 receive¢ ￿m￿neratIon orother benefts ft¥lheyear ende(J 31 December 2021 norfor theyear ended 31 Oecember2020. Trustees. expenses During Ihe yew 3 trustees we rambuts￿ 11a￿ exper&ts ILxall¥J t3.779 {20J. 4 trustees totalling £4,275). P•3e 21

Dr￿￿519￿ En¥dDpe ID.. 49o9E25E-62A2460N1￿C1o8F732j ROYAL ARTILLERY MUSEUM NOTES TO THE FINANCIAL STATEMENTS ICONmNUEO} FOR THE YEAR ENDED 31 DECEMBER 2021 12. STAFF COSTS 2￿20 Wages and salar So¢k81 Se￿nty c£6ts O¢her pens)n costs 188.860 14,595 259.569 20.717 C4leclk)n 81 Support costs (r￿• g) )n payroll costs indLwJed 122.975 95.201 187.CQ4 104,470 2021 2020 No. Museum No ern￿oYeeS recwed emoknts in extxs of£60.CI)O. Th8 fA)mpanYs a ful￿time p05IMin to be filled by several pwt tirne •iees which ensures lh a greaterflexI￿Ity ￿510￿1¥j w be duriro busy The mus•um b8nrfrts lffjm grrt ￿E￿NI[￿M th8 MOD. 2021 2020

Docuslgn En¥elope ID.. 4909E25E42A2460M1WIOW3216A8 ROYALARTLLERY MUSEUII 110IES TO THE FW4J4CIAL STATEIIJENTS ICONnNUEDI FOR THE YEAR ENOED 310ECEIIBER 2021 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Urw4strid•d R•strlcted Total funds funds funds INCOME AND ENt>OWllENTS FROM Oonation5 and legacies Charitable activitEs Other trading activit Investmtrnt Incomg Other Income 287,848 368,492 14,CX)O 146,082 171 14,CKJO 146,082 171 Total EXPENDITURE ON Raising fvntys Charitable actNilBs Olher costs 418,995 287,848 7(.843 Total 41 Net gain$￿￿)SSes} on inveslmerts {4,(#)2) 14,0021 NET INCOMEIIEXPEP4DITUREI Transfer belween funds 1182.1CrfJ} 1182,1001 NET AIOVEMENT IN FUNDS 1182.ffyJ} {182,fOOI RECONCILIATION OF FUNDS Total fvnds brought lorwArd 2 426 461 4 707 086 TOTAL FUNDS CARRIED FORWARD 14. PARENT CHARITY RESULT FOR THE YEAR The parent chanty has taken advantwje oflhe ex•mpthon alknveL1 undersectK)n 408 ofthe Companies Act 2006 and has notpresented its own separate siaternentof Finan￿al Activf(ies and Incorne and Expenditurè Account. The nel surpk6 olthecharity lor th? y?ar was £198.104 {2020' £182.081 defiotl. Page 23

D￿S￿j￿ Erivdow ID. 4￿9E2SE42A24o[x>Bl8￿1OaF73216Aa ROYAL ARTLLeRY IAUSEV IIOTES TO THE FIMAJ4CIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 OECEMBER 2021 TANGIBLE FIXED ASSETS Fixturns and fittir4s Moior vehlcles Total Group ch COST At 1 January2021 AdditWS DisrKJS At 31 December 2021 11.650 95.048 DEPRECIATION At 1 January 2021 Charge for year Eliminated on diws At December 2021 51.193 10.177 4,078 55,271 12.507 NET BOOK VALUE At 31 D￿rnber 2021 Ai 31 DwAmber2020 16. FIXED ASSET INVESTIIENTS Quoted Tolal COST OR VALUAnoN At 1 January 2021 Acquisrtm￿s a¢ cost Disp¥)5als at oFeniTrJ txok valu8 G8insllk)s$l on investrnent At 31 DecernbEY 2021 4.371.266 621,7n 1501.4831 112054 4.371.266 21,777 1501.483 112054 Investrnents hekl by the charity i￿ude an add￿n81 £212020." È21 relab.ng to the investments In th• subsidiary wmpanies (See below). Induded within the quote(l in¥pstrnent porffoko B £88.454 {2020.. £213.9981 ofcash balarKs. The￿ wefe no in¥estrnent assets oulside the LIK. Royal Arti118ry Museum5 {Enter￿e5) Lwnitwj. a a)fflpany rwistered in ErK￿L￿O aThJ Waks w￿1hthe regtstwèj nunbw02692172. cthned trèjir0sub5id￿ry ofRoyaArtilkry Museums knmrted. The re$￿ts ol Ihe subshji￿ are iK4uded in Ihe o)n5dKlaled ao)Junts. A summary finanod as fdbJw5.' Turnov*i 17 Total asse15 6.680 Totsl ￿"abl1￿.es Paye 24

Dowsign En¥do*10." 49)9E25E42A248D>81￿CloBF732lfo6 ROYAL ARTILLERY IAUSEU IK)TES TO THE FINANCIAL STATEMENTS ICONMNUED) FOR THÉ YEAR ENDEO 31 DEceMBER 2021 17. DE8TORS: AIAOUNTS FALUNG DUE WITHIN ONE YEAR Group C¢#npany 2021 20 Group C¢xnpany 2020 2020 Trade debtors Amounts owed by group undertaknng5 VAT Prepayments and accrued In￿rne Accrued income debtors 19.870 19.870 14,768 14.768 13.￿$7 13.507 18. CASH AT BANK AND INHAND Group 2021 Company 2021 Group 2020 Company 2020 Charrties Official Investsnent Fund alc Other bank accounts Cash in hand 10 110.115 10 110.115 10 127,260 10 127.277 19. ¢REDfTORS.. AMOUNTS FAWPIG DUE WITHIN ONeYEAR Grow> C<ffipany 2021 2021 Group 2020 Company 2020 Trade creditor5 Amounts owed to 9roup undertakings Tax and social security Accfua15 and defe￿ed incorne 11,935 11,935 6.754 18.545 37,063 37,063 6,754 18.963 18.997 19,415 20. FIP4ANCIAL INSTRUMENTS Group Company 2021 2021 Group 2020 Company 2020 Finantsal assets measured at fair value Pay 25

OotyJ&gn Envdope ID". 49)9E2SE42A246￿818￿Cl(￿732l6A8 ROYAL ARThLeRY MUSEUII 140TES TO TrIE FINANc￿L STATEMENTS ICONmt4U FOR THE YEAR ENDED 31 OECEIABER 2021 21. FUNDS Un￿$1￿cle￿1U￿ds8reuSedaIIhedisUelionoflhet￿2steesfOranyofthe￿8￿tyS PUfposes.thisisrnainly for the operation olthemuseum. DesKJnated funds are amounts eannarked by the trustees for specific purposes. Restricted funds comprise the lolltrm'ng". Rausing {Jonat￿n.. A donatK•n I￿¢1¥¢d which 1$ to be used for educational purposes T￿Y Hwtt IB9acy: A lrfxy Wueathed to charty to u￿1 fLY ts lutwe ¢kndopmfrnt oftho new museum Mu$•um cwtd fuTrJ.. Grants forthe rapi cc6ts oflhe ddivery ofthe nw RA rNs•Jrn Herrt&Je and furn1.. A Iw beq￿ahed to ￿ thity 15 to be ￿ed for the fiJture d8vehJprnent of Ministy of Deferxe fund5'. Grdnts r•x¥ed to fund ￿"11￿ c4JBts. 21 MOVEMENT IN FUNOS Group movemont At 111121 in funds At 31n2r41 Unrestrieted fund General fund Designated fund5 Future museum pro1￿ Restricted funda Rausing DonatK)n Tony Howitt Legacy Museum capital fund HeThtage and educabon lund 2.221.461 198.121 2,419.582 22.900 22.900 580.625 100.000 700.000 580.625 100,000 700,(100 TOTALFUNDS Ntst movement in funds. induded in the above are as folthls: IncorniThJ Resources In¥oslmonts Mo¥¢ment in funds Lknfestri¢i•d funds Gweral 257.(*)3 {256.495) 197.613 198,121 D8sSgnated funds Future museum prop R•strf¢t•d funds Ministy of Oefm grth in Mintstry of Defen￿ support 215.528 79 (215.528) TOTAL FiINOS Pago 26

Docusign En￿loPe10.. 4gNJ9E25E41A246E>81￿l0dF732lSA8 ROYAL ARTILLERY MUSEUM IIOTESTO THE FWANCLAL STATEMENTS ICONTIPIUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 22. MOVEMENT IM FUNDS - CONTIXVED In the pricrf year, the re51TK#&J Ministy of 9rant in arfl had inc4>nry resour￿8 01£210,678 and resour￿ expended 01 £210.678. the r8StriLted MiiNsty of Wence suppjrt fvr¥J had inoJrnirrfJ resources 01 £77.170 and ￿$(¥jr￿ exFended of£77.170.These wwe ￿ onty nw)VeM￿lS on restrid funds for Ihe wewus year. Ch¥ty At 111121 Net At 31112121 movement In £ funds Unrestricted funds General fvnd 2.215.178 198,104 2.413.282 D•signat•d funds Future museum prc¥ec4 Rèstricted funds Rausing Donat￿￿ Tony Howitt Legacy Museum caprtal fun Heritage and education fund 22,grKJ 580.625 1(￿•,000 7LKI.000 1(X),(xw) 22￿625 TOTAL FUNDS Net movernent in funds. iiduded in the abové e as lolhyw5: In funds Unreslrfcied lunth General fund O¢$i9nat•d funds Future muse￿1 prc¥e¢t 257.(X)3 (256.512) 197.613 198.104 Restrfctsd funds Ministry of D8fenc8 in MiTh5ty of CfenL suf¢•yi 215,S28 1215.528} 79,¢M 179.CP39} 197 TOTAL FUNDS 23. RELATED PARTY DI￿LOSUREs Grgnl$oie49.OW{2020.. £38.29)) recew&J frryn thg RoyalAJlillery In$trtutw{IWII and amounts of£Nil12020' £Nill included in ijebtors althe I￿nCe she8t date. Members of the Master Gunners, Cornrnthee have the right to become M￿berS d the Royal Arblery •xl ¢)thw ap￿￿￿$ kn nw)bership must be ty the c￿nrnrftee. 24. MEMBERS. GUARA1￿5 The m8mber5' fiability is fiThMted to £1 is payable in the evert of the comp8ny being up. Page 27

DowSvJn En¥elope Kl". 49)9E25E-62A246DO-81W108Fll216A8 ROYAL ARTILLERY PIUSEUIA NOTES TO THE FWAMCIAL STATEMENTS ICONTIWVEO> FOR THE YEAR EIIDED 31 DECEMBER 2021 25. LEASING AGREEIAENTS Minimum lease payments under non-cancellable operating lease5 fall due as follows.. 2021 2020 v￿1n one year 8etr4een one and five years S3.735 26,167 PENSION SCHEME COIIMITMENTS th effect from 1 jL￿Y 1997 a pers<￿al pension stheme thth Standard Life was irymented for all permanent employees who wished to partripate. The CA)mpany matches ihe employee's Contributic￿ up to 5% and the employee has the optson io pay addition81 contrilxthons. The amount of pension conlnbuti￿s recoynised in the year as an expense is £9.386 12020." £7,388). 27. ANALYSIS OF NET ASSETS BETWEEN FUNDS The of net assels belw al 31 D￿embtr 2021 i8 shoym in Ihe bala￿e sheets on pages 11￿￿12. Unrestricted fund$ Restrlcted fvnds Total Fund balance5 at 31 D￿rnber 2020 are represented by.. Group.. Tangible fixed assets Inveslment5 Current assets Cr¢ditoTr.' arnount faling *•thin ortsy 39.777 2.(W,641 182,423 39.777 22￿.625 ' 4.371266 182.423 Company.. Taryiblefixed assds In¥KstmenlS Current assets Cr&ltots.' wnount tsling due ￿7th1￿ orny 39.777 2.C￿.643 182.440 39.777 4,371,268 182.440 2,280,625 Paye 28