Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 31 January 2023 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 January 2023. Reference and administrative detsils Registered charity name: Council of the Northem Ireland War Memorial (Incorporated) Charity registratlon number.. 103635 Company registration number: N1002888 Princlpal and registered office: 21 Talbot Street Belfast BT12LD Directorsrrrustees: Colonel (Retd) D Bigger- Chairperson (Appointed 9th June 2022) Dr B E Barton Mr K Beattie (Appointed 23rd March 2023) Mrs C Champion DL - Vice Chairperson Flight Lieutenant A J Crowther Mrs C Dixon Mr R Doherty FIRSO Major K M J Guthrie MBE (Appointed 91h June 2022) Mr R B Hannam (Appointsd 24th October 2022) Lieutenant Colonel C T Hogg MBE KStJ UD JP DL Mr M G Logan JP (Appointed 81h December 2022) Chief Officer P Shaw RD DL (Resigned 8th December 2022) Mr l A Wlson (Resigned 15th September 2022) Company secretary= Flight Lieutenant A J Crowther Auditor: Finegan Gibson Ltd Chartered accountant and statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN Bankers: Danske Bank Donegall Square West Belfast BT16JS Solicitors: Crawford Lockhart Black Solicitors 7-11 Linenhall Street Belfast BT2 8AA
Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continue Year ended 31 January 2023 Council members: Colonel JM Steele CB OBE TD DL (Patron) Mr C Bailey (Resigned 23rd April 2023) Lieutenant Colonel M Barnes OBE TD Mr K Beattie Colonel (Retd) D Bigger Lieutenant Colonel C Bennett UD Mrs C Champion DL Commander T I Chrishop Flight Lieutenant Dr J S A Collins DL Mrs L Corken Mrs B M Corry Mr P Cregg MBE Flight Lieutenant A J Crowther Mr J Davies MBE Mrs C Dixon Colonel A M Donaldson MBE OStJ VR DL Dr B Duff Bsc MA Dip CS PhD FRGS FRUSI (Appointed 30th May 2022) Colonel S M Elder MBE TD JP DL Major K M J Guthrie MBE Mr R B Hannam (Appointed 9th June 2022) Colonel l G Henderson OBE TD MSc(Econ) Lieutenant Colonel C T Hogg MBE KStJ UD JP DL MrNJIHogg Mr S Johnston Captain H Mackintosh MBE TD (Resigned 5th August 2022) Captain J D Mccahon Mr C McGuicken (Appointed 9th June 2022) Commander R Milligan Mr l Montgomery (Resigned 61h June 2023) Mr T Parkhill Mr L Quigg BEM Colonel A H Reid OBE TD DL Lieutenant Commander E M Shanks RD Chief Offir P Shaw RD DL Mr N Spence Lieutenant Colonel DW F Twigg MBE CStJ JP Mrs C Walker Mr G Warner Mr l A Wilson (Appointed 15th September 2022) Commander H B White VRD
Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {continuedJ Year ended 31 January 2023 Structure, governance and management Governing document The Council of the Northern Ireland Vvar Memorial (Incorporated) is a company limited by guarantee governed by its Memorandum and Articles of Association. The Council appoints the Board of Trustees who are responsible to the Council for the day-to4ay management of the charity. All decisions are made by the Board of Trustees. Appointment of Trustees The Trustees are appointed by the Council Members at the Annual General Meeting. Each year one third of the Trustees resign by rotation, though they may stand for re-election. Trustee induction and training The Chaimian ensures that appropriate induction and training is given to all Trustees. Each new Trustee is provided with a pack of infomiation about the history of the Council of the Northern Ireland War Memorial (Incorporated) and their responsibilities. a tour of the gallery and an opportunity to meet all staff. Organisation The Trustees have overall responsibility for the charity. The Council, which meets at least once a year, appoints the Trustees to administer the charity and manage its day to day operations. Risk management and internal control The Board of Trustees is responsible for ensuring that an effective system of internal control is maintained and operated by the Counal. The system of intemal financial control is based on a framework of regular management information: administrative procedures" and a system of delegation and accountability. The Board of Trustees has assessed the major risks to which the Council of the Northern Ireland Vvar Memorial (Incorporated) is exposed, in particular those related to the operations and finanS of the Council, and is satisfied that systems are in place to mitigate any exposure to major risks. Public benefit Acknowledgement of the Council of the Northern Ireland V4lar Memorial (Incorporated) public benefit role was confirmed with the award of registration with the Charity Commission for Northern Ireland in September 2015. The Trustees believe that the charitable company provides a public benefit in the commemoration of the men and women from Northern Ireland who died during the World Wars. This is achieved through providing a capital educational resource in the form of a museum gallery open to all members of the public, maintenance of war memorials within the museum gallery, organisation of fitting commemorations and the preservation and development of a museum collection relating to the world wars. The charitable company offers grant fijnding to primary schools towards the travel costs of classes visrting the gallery. The building and its offices within. maintained by the charity, are significant in supporting the amenities and services for the advancement, relief and benefit of present and former members of the armed forces. The Trustees believe they are operating entirely within the guidelines issued by the Charity Commission for Northern Ireland and look forward with Confiden to the development of the Council's work in the province.
Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) {c¢tinued) Year ended 31 January 2023 Objectives and activities of the Council The objectives of the Council are 'to provide and maintain, as an enduring War Memorial for Northern Ireland, a building or buildings which will worthily commemorate the men and women of Northern Ireland who died in the two World Wars 1914-1918 and 1939-1945; to provide and maintain therein accommodation, amenities and services for the Royal British Legion and other charitable bodies which are established and organised for the advancement, relief and benefit of present and former members of the armed forces: to provide and maintain in at least one building therein accommodation to be known as The Hall of Friendship to commemorate the association of the Armed Forces of the United States of America with Northern Ireland in the 1939-1945 War,. Legal opinion has been sought on the actions which the Trustees can take in the furtherance of these objectives. The principal activities of the Council continue to be those of holding properties and other investments. Achievements and performance The Trustees are satisfied with the perfomance of the Charity in meeting its objectives for the year ended 31 January 2023. This was the first full financial year without government restrictions imposed to museum activities since the Coronavirus pandemic began in March 2020. On the abolishment of social distancing guidelines employees retumed to working in the office. However efficiencies brought about through the pandemic have been integrated into daily working routines. Although not as heavily relied upon as in-person education. online platforms remain an effective engagement tool for learning and outreach, especially for those who cannot easily visit the museum. 2022 fulfilled the final year of the current strategic plan (2017-2022). The following 5 strategic aims and their associated objectives, outcomes and key performance indicators provide the framework for the development of the Council of the Northem Ireland War Memorial and how the senior management team report to the Trustees. Strategic aim 1 To care for. preserve. develop, and present the collection to Museum Accreditation standards Ob"ectives Maintain museum accreditation Outcomes Improved performance of the museum. Increased recognition and improved reputation of the museum. . An improved focus on users, needs. Development and support for the workforce. Increased partnerships and loans with other museums. . Formalised procedures. policies, and fopward planning. Ke rformance indicators Accreditation maintained. Annual accreditation review completed in conjunction with Museum Mentor in November 2022. In tandem with the accreditation review, the Museum Mentor delivered a report ft)r consideration by the Board in December 2022. Consultation with stakeholders completed and strategic plan roved in December 2022. 7 acquisitions purchased. 24 donations to the museum. 2 collection related grants applied for and received amounting to £2,500. Develop the collection in line with Collections Development Policy . Collections management framework provides a legal and ethical basis for the acquisition and disposal of objects in the collection. Enables the growih of the collection in line with established themes and priorits'es for future collectin
Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continue Year ended 31 January 2023 Ensures that infomiation held relats'ng to the collection is accurate, secure. reliable, and aCSsible. Enables the Nll4VM to build a substantial oral history archive while the Second l+Vorld War is in living memory. New objects and sound recordings will be used in future publications, exhibitions, interactives. promotional material, and as resour5 for researchers and media. 7 non-accessioned items transferred to a more suitable museum. 34 oral recordings added to the Nlvlffijt collection in line with Documentation Policy, over the following geographical locations: Location Number of InteNiews Antrim Amia Belfast Down Fermana rone Mainland 16 UK Use of the recordings by the museum, researchers. and the media. 40 inteIewS transcribed and roofread b interviewees. Backlog of documentation continues to be addressed. 466 new data entries recorded on MODES. Accuracy of records improved on MODES. 189 objects photographed professionally. 4 objects loaned to and 1 borrowed from other museums for display. HMS Egilsay bell and Dun Laoghaire fire helmet remain on lon -temi loan for dis Record of object cleaning and cleaning of collection store maintained in NIWM housekeeping file. Restricted use of locked cabinet. . Conservation work completed on 8 objects. McKendry frieze cleaned by professional conservator. Housekeeping records reported to Museum Committee re ularl Continue to document the collection as outlined in Documentation Plan and Procedures Manual . Enables the museum to borrow from and lend objects to other museums. New acquisitions because of good communication with donors. Increased public access to the collection. allowing the NIVVM to fulfil leaming role. . Allows the NIIIVM to care for and be accountable for the collection, allowing the museum to arrange appropriate conservation, insurance. and a recovery plan. Continue to implement a Care and Conservation Plan and Policy Enables the museum to follow best practice procedures relating to the care and conservation of its collection. . Allows the museum to address the needs of the collection and set of priorities for conservation work. Long-term care of the collection through a rolling schedule of conservab'on can engage public interest. Remedial conservation of objects increases understandin of their si nificance. Strategic aim 2 Attract new visitors and increase footfall with exhibib'ons, events. lectures and workshops. Ob"ectives Provide access to the collection Outcomes Increased visitor figures from taking an audience-centred a roach to exhibitions, Ke rfonnance indicators . 21 events with 567 participants.
Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 January 2023 learning, events. lectures, website content. resources, and publications. Potential to attract new and return visitors. Increased awareness of museum results in objects and stories being donated to collection. Facilitating access to research and the stored collection increases awareness of the museum as a trusted place for research by historians. community groups and universities. Voluntary donations made by visitors and sales of NIV4lM publications generate additional income. . Visitor feedback improves Servi and contributes to future strategy. . Feedback reiVed from museum users (visitors, schools, informal learners. researchers). Visitor figures and attendance at lectures and commemorative events - refer to visitor figure targets table below. NIWM continue to provide access to the collection by responding to research enquiries from students, journalists. museums and historians. Research outputs (lectures. talks, publications, resources supplied to researchers). contributions to 6 online lectures and 3 conferences. 2 temporary exhibitions installed.. US 80 exhibition to mark the 80th anniversary of the official arrival of US forces in Northern Ireland. Fomiation of US Rangers exhibition to mark the 80th anniversary of the establishment of the US Rangers in June 1942. Number of people reached on all social media platforms: Platfomi Number of People Reached 18,318 users across 21,700 sessions Reach of 293,562 59,184 ressions 10,024 ressions 8,818 NIIMA website Facebook Twitter Instagram Pinterest ressions 1674 views YouTube Draft volunteer policy created and to be formally adopted in 2023. 2 volunteer placements completed at NIWM. 68 book sales made. Visitor feedback and social media engagement. Extemal complaints policy drafted and formally adopted in Dernber 2022. Develop and deliver a marketing plan which raises the profile of the museum . Acting on feedback ensures important improvements are made which ensures visitor satisfaction.
Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantse Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 January 2023 Achievement of visitor targets and audience development by taking an aUdlenntred approach. Demonstrates the NIWM'S values including accountability, self-analysis. and quality of seNice. Correct handling of complaints which mitigates the risk of damage to the NIVVM'S reputation. Ability to track and respond to visitor trends enables more costeffective approach to marketing. Increased awareness of museum by attracting new visitors from outside the main catchment area. Enables greater public access to the collection. Increased interaction with public may encourage the donation of objects and stories. 13 adverts placed on 11 plafft)rms. . Analysis of catchment area of visitors as follows= Northern Ireland Republic of Ireland UK excl Nl Overseas 43/0 9% 27% 21/0 . Continued review of NIWM performance against similar visitor attractions. Continued radio, television, and press coverage. New museum tour leaflet information drafted for print in 2023. Achieve visitor targets . Achievement of set targets 2022 Ta et 2,500 2022 Actual 2,845 Visitors walk-ins Schools (on- site and virtual Informal learnin Outreach 1,361 Events 567 Room usa 94 Visitor total 6,500 8,418 School visits (on-site)- 2,638 pupils and teachers from 95 classes across 60 schools. Loan boxes- 339 users (excl reminiscence). Virtual visits- 308 pupils from 10 classes across 7 schools. Increased geographical reach - 13 primary school visits outside a radius of 30 miles from the museum. Engagement with and feedback from online learning videos. - Leaming homepage on NIWM website visited 887 times. - Resources webpage on NEWM website visited 526 times. 1,500 2,946 750 605 750 1,000 Offer free leaming workshops and reSoUrS to primary school children in Northern Ireland . Increased avrfareness of museum by local families. . Achieve visitor targets. Enable greater public access to the collects'on. . Improved workshops and resources for children. . 4,050 free 'Craft Packs, provided to schools and individuals. New online learning resources created.
Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 January 2023 'Second World War Stories for Kids, viewed 370 times on YouTube. . Travel grants awarded to 58 schools. New evacuee loan box created for use by Key Stage 1, Key Stage 2 and special educational needs classes. Kids in Museums Takeover Days, Nl Science Festival and National Drawing Day Contributions, which helped act visitor fi ures. . 61 participants across 3 workshops as part of Playful Museums event. Early years facilities added, and improvements made to exhibition. Jeannie the Hen loan box borrowed Iwice and used by 61 under 5's. Copies of 'Jeannie's Adventure to the Countryside. illustrated book circulated and provided free when loan box borrowed. . Tour created for secondary schools - 9 post primary classes visited with 244 artici ants. Reminiscence loan box borrowed once by a group of 81 users. Informal Learning - 29 group visits to the museum with 605 visitors. 1,361 people participated in 46 outreach sessions (includes outreach to primary schools). Feedback received from informal learners and outreach participants. Develop new learning experiences for new users and non-users of the museum Enable greater public access to the collection. Increased awareness of museum by local families through Playful Museums Festival. . Increased partnership with secondary schools increases awareness of the museum as a pla for research. Increased awareness of museum results in objects and stories being donated to collection. Expand the informal learning and outreach programmes for groups in the local community, offering more opportunities to current users and non-users . Improved workshops and reSoUrS which are accessible and inspire learning and fulfilment for all. . Increased partnership with ex-service charity tenants and positive impact on veterans. Sncreased awareness of museum enables greater public aCsS to the collection. Increased objects and stories being donated to collection from new audiences. Voluntary donations made by visitors and rou enerates additional income. Strategic aim 3 To provide eX-serVi bodies and charities with afft)rdable office accommodation and facilities for meetings. Ob'ectives Provide affordable office accommodation to ex-seNice charities Outcomes Floor fully rented out to charitable tenants ensures a guaranteed income stream to help fulfil NIWM'S activities. Offices rented out at 113 less than market value to the ex-service tenants helps to strengthen their financial position and safeguard their future in the short-term. Increased partnership with ex-SerVi charty tenants assists the ositive im act on veterans. Ke erforniance indicators 1$1 fioor fully let to 5 charitable tenants - Combat Stress, SSAFA, RAFA, Help for Heroes and Royal British Legion. Rent charged continues to be 113 less than market value in the area.
Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 January 2023 . Increased awareness of museum through footfall of veterans to the charitable tenants. Increased partnership with ex-seniice charity tenants assists the positive impact on veterans. Increased awareness of museum through usage of board room, education room and gallery by other team Members not usually based in Belfast and veterans. Provide additional facilities to the charitable tenants as required Facilities used by the charitable tenants 7 times (94 users). Strateglc aim 4 To administer a small grant scheme towards projects which fulfil the NIWM Statement of Charitable Purpose. Ob"ectives To provide small grant funding towards projects in line with NIWM charitable purpose. Outcomes Enables the charity to reach out to other organisations with similar charitable purpose. Increased awareness of the Chartty by supporting projects throughout Northern Ireland. erformance indicators 4 small grants awarded amounting to £6,500. 1,729 website page views for small grants information. . Press coverage and acknowledgement of NIWM from grant recipients- Robert Hill Hanna VC statue in Kilkeel and Richard Clements. production of 'How to Bury a Dead Mule, at the ric Theatre. . A new small grants application form has been drafted and will be approved and adopted prior to the end of 2023. Formal letter of offer drafted to include eviden of work carried out, bank payment, final invoices and acknowledgment of NIWM support to the project. Letter of offer will be approved and adopted prior to the end of 2023. To improve the small grant application form and monitoring process. Application form is streamlined to fit with the branding and design of other prOdureS and protocols introduced by NIWM. Form clearly sets out requirements of the applicant to meet the objectives and charitable purpose of NIMfj. All prerequisites defined on the fomi, to include number of quotations and description of other funding towards project. Recipient aware of the requirements of the organisation to fuffii their obligations On grant has been awarded through a fomial letter of offer. Ensures NIWM is acknowledged appropriately in press coverage and supporting materials with roved lo os and editorial. Enables the charity to reach out to other organisations with similar charitable purpose. Increased awareness of the museum, Council and Board by supporting projects throughout Northern Ireland. To promote the small grants scheme . 4 small grants awarded amounting to £6,500. 1,729 website page views for small grants information. Press coverage and acknowledgement of NIWM from grant recipients - Robert Hill Hanna VC statue in Kilkeel and Richard Clements, production of 'How to Bury a Dead Mule. at the ric Theatre.
Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 January 2023 Strategic aim 5 Continue to prioritise good governan and organisational health. Ob"ectives Trustee training in good governance Outcomes Strengthens the Trustees, knowledge of charity governance. regulation and best practice. . Affirms the understanding of their role and responsibilities as Trustees. . Offers networking opportunities with other Trustees in the sector. . Safeguards Complian of NIV4hl with charity legislation. Increased Board engagement to create impact, meet objectives and sustain improvement. Motivation of Trustees. Defines the vision, objectives, scope and deliverables of NIIAIM Committees. Outlines the roles and responsibilities of NIWM Committees. Ensures common understanding among members and im roves effectiveness. Enables consideration of the objectives of NIWM and establishes whether they remain fit for purpose. Allows review of articles such as conflict of interest, quorums. ability to hold meetings online, small grant awards and provisions for electronic communications. . Affirms the understanding of the NIIAIM governing documents by the Trustses and management team. . Advancement of Blitz Memorial project with Belfast City Council as a consequence of the consideration of a specific grant funding article. Provides a good foundation for consultation with stakeholders in advance of the new strat lannin eriod 2023-2027 . Clear, appropriate and coherent set of policies and procedures ensures NIWM is well managed. Ensures Complian with goveming laws and regulations. Provides appropriate controls including a framework for delegation by the Trustees to staff and volunteers that set out how charitable business should be conducted and what is expected of people. . Transparency and accountability that the Trustees conduct the work of the charity appropriately. Limits risk. Provides written guidance for employees to ensure structure. control. consistency, faimess and reasonableness are core within the or anisation. Ke erformance indicators All Trustees received a copy of the C03 guide to Great Governance by Roger Courtney. 4 new Trustees recruited to address skills gap - specifically finance, governancelrisk, and museumlcollections expertise. Charities legislation requirements met. Formation of Terms of Referen for Committees (to improve Committee effectiveness) Draft TORS in the process of completion with Committee Chairs. Final TORS to be implemented by the end of 2023. Review of Memorandum and Articles of Association (to comply with best practice recommendations) Communication of proposed amendments to Council of increase in Board members to 12 in May 2023. Ratification by Council at AGM in June 2023. Review and ongoing development of governance policies and procedures HR audit carried out in September 2022 and report received from external consultant in October 2022. Chair involved in the review and formally documented per the Board minutes. Continue to prioritise HR policies for stsff HR audit carried out in September 2022 and report received from external consultant in October 2022. io
Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 January 2023 . Safeguards compliance with employment legislation and informs employees of their responsibilities and NI.5 expectations. Provides transparency as policies are easily accessible to all staff. . Appraisal system provides the opportunity to recognise and reward staff, motivate employees to perform to the best of their ability and develop their potential. o timal or anisation erformance. Allows the museum to fulfil its sustainability obligations to staff, visitors, and stakeholders- and to present and SUCeding generations. . Compulsory requirement of Museum Accreditation which allows the NIIAIM to maintain Museum Accreditats'on standard. Chair involved in the review and formalty documented per the Board minutes. Evidenced completion of performance excellence reviews for all staff. Evidenced completion of probationary reviews for new staff members. Continue to implement an environmental sustainability policy NIWM continues to be aware of environmental sustainability. Going forward the strategic plan 2023 to 2027 prioritises that the organisation will be environmentally conscious by minimising waste and reducing its effect on the environment. Related training has been lanned for 2023. Evidenced review of fire risk register and aC$S security and approval by the Board. Detailed record kept of all fire alarm evacuations. Record kept of all staff training attended. Signed record now maintained of all weekly fire alarm tests for the buildin Continue to prioritise safety of staff and security of the building and collection with an emergency and recovery plan. Health and safety of staff and visitors. Enables the emergency services and the NI1 to respond swiftly and effectively in any given circumstance or event which enables successful recovery of the collection. Compulsory requirement of Museum Accreditation which allows the Nlldvm to maintain Museum Accreditation standard Fundamental to the Trustees is safeguarding the organisation's ability to Self-finan to meet its objective5. As most of the Charity's income is generated from investments. the Trustees engaged two independent investment managers to administer its portFolio in accordancewith a policy of achieving a balance beeen income and capital growth with medium risk. The investments generated income of £153,487 (2022: £128.328) in the year. The loo0 owned subsidiary Nlbvm Holdings Limited. which maintains the investment propety, continues to perform well and is fully let. Financial review The key financial objective is to ensure financial stsbility and continuing solvency year on year, so that the charity can achieve its objectives. The Charity relies on a solid performance from investments to meet their objectives. 2022 is likely to be remembered as the year of transition as the year's actions saw an end to the era of low inflation and near-zero interest rates. The war in Ukraine. as well as the suppty chain issues. further exarbated this transition, ultimately resulting in the toughest year for multi-asset investors in over 50 years. Net losses in revaluation of investment assets (realised and unrealised) amounted to £515,663 (2022.. gain £571.568). Net losses in revaluation recorded for the year ending January 2023 translate as 6.25 % of portfolio value held at year*nd. Considering the relative minimal impact to the Council despite such a dreadful year for markets globally, the Trustees consider the results to be satisfactory and do not envisage any material change in the nature of activities in the year to 31 January 2024. li
Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (ntinued) Year ended 31 January 2023 Post yearond the Trustees are cautiously optimistic moving forward, while remaining mindful that the worldwide interest rate increase may sts'll result in continued volatility until the effects have been felt throughout the world's economies. The first quarter perfomance shows indicators for investor confidence as returns are broadly in line with set benchmarks. Trustees will continue to monitor the situation and engage with the independent investment managers as necessary. The Statements of Financial Activities are set out on Pages 20 and 21. Reserves policy The Council has established a policy whereby the uninvested funds not committed or invested in tangible fixed assets (the free resenies) held by the Council should be in excess of at least one yeafs resources expended. Reserves are essential to ensure that the Charity has enough resources to fund educational programmes, support ex-service Charities accommodation, cover day to day running costs, staff costs, building repairs. museum acquisitions and conservation requirements. The actual free reserves at 31 January 2023 were £1,072,751 {2022.' £1,105,469) (see note 26). At this level, the Trustees are of the view that they would be able to continue the current activities of the charity for up to 3 years (based on current year expenditure) in the event of a significant drop in investment retum. The reserves policy is reviewed annually by the Trustees and is deemed adequate considering current market unknowns driven by the Russian invasion on Ukraine and inflation. Investment powers and policy Under the Memorandum and Articles of Association the Trustees have the power to invest in any way the Council wishes. The investment policy of the Council of the Northem Ireland War Memorial (Incorporated) is as follows.. The Council, having regard to the liquidity requirements of operating the charity and to the reserves policy, will operate a policy of delegating the management of its investments to professional investment managers with a mandate to manage the investrnents to achieve a balance between growth of income and capital, with medium risk. Donations The Council made charitable donations amounting to £200 (2022: £100) during the year, principally for the benefit of local communities in which the council operates. No donations for political purposes were made in the year (2022.. £nil). Plans for future periods The Board of Trustees will continue to plan for the delivery of consistent, high quality standards in relation to providing and maintaining an enduring Vilar Memorial. Collectively they will ensure that those charged with governance or management of the Council will be made aware of their responsibilities. The charity will demonstrate that it is using its resources to deliver charitable activity and therefore public benefit in the best possible way in these unrtain economic times. Resources will be managed in a cost£ffective manner. Expenditure will be strictly monitored and controlled without compromising quality of service. Management structures will be kept under review and monitored to ensure that good governance prevails and exposure of the charty too is minimised. The five year strategic plan (2023-2027) of the Charity was agreed by the Board in Dernber 2022 to focus future output. The plan was formulated through the input of various stakeholders including Trustees, Council Members, staff, community groups, university students, teachers and visitors. 12
Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 January 2023 As part of this process, the wording of the Vision, Mission Statement and Values of the Charity was revisited and streamlined to more appropriately align with the museums aims and objectives moving forward. Vision An engaging and welcoming museum that provides a window on Northern Ireland's key role in the Second World War and the irnpact of the war on its people. Mission Statement The Northem Ireland INar Memorial was established to provide an enduring memorial for the men and women of Northem Ireland who died in the two Vdorld Wars. and to commemorate the American presence in Northern Ireland during the Second Worfd War. Now an Accredited Museum, our mission is to tell the story of Northern Ireland's role in the Second World War comprehensively and authentically through engaging exhibitions. publications, research, outreach and accessible learning programmes. In addition. we maintain war memorials to the fallen in the First and Second World War and the Belfast Blitz. We organise respectful commemorations, provide office and meeting accommodation to ex-service charities. and award small grants to projects which are in line with our charitable objectives. Values AuthentiGity- Our collection is at the heart of everything we do to inspire research and create unique learning experiences, resources and publications. Striving for exllenGe - We are responsible for the professional care and interpretation of the collection. We will share our knowledge by presenting the collection and our research to their full potential. Working together- By promots'ng teamwork and exploring collaborative ideas we reflect the whole of Northern Ireland, ensuring our activities are wide-reaching and relevant to our varied audiences, both current and new. Showing respect- We host fitting commemorations which are inclusive of all. We support diversity and a work Culture which values and empowers our team and recognises their achievements. We remember our roots and help towards building a more dynamic future for the organisation. Innovative - We are ambitious and imaginative about finding better ways to do things. embracing technology and partnerships, to share our stories The following six strategic priorities were set for the 5 year period (2023-2027) . Redevelop We will transform the museum with a phased programme of capital works on the ground floor, ensuring that the Hall of Friendship and existing memorials are integrated in a fith'ng way. We will embrace digital technology and ensure we exhibit objects and stories that reflect the whole of Northern Ireland 's experien in the Second World War, to full potential. We will seek grant assistance and value for money and consult our audiences throughout the process. In the long-term the Board is committed to expand the museum space within the building and is considering a number of options on how best to achieve this. 13
Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 January 2023 2. Income diversification We will explore new ways to create an income for the charity. 3. Offering inspiring experiences and increasing our reach We will develop our existing learning programmes and increase capacity by engaging with people in the museum and across Northern Ireland through outreach. We will work with a wide range of partners to maximise our impacL We will continue to provide small grants to projects which are in line with our charitable objectives. 4. Supporting the erection of a fftting Blitz Memorial in Belfast We will continue to work in partnership with Belfast City Council to erect a fitting memorial to the people who lost their lives in the air raids on Belfast in 1941. We will explore memorials in other areas that suffered air raids (Londonderry, Bangor and Nevrtownards). 5. Developing and valuing our collection We have a growing collection which is at the heart of everything we do. and we will ensure it develops to reflect the whole of Northem Ireland's experience in the Second World War. We will review our collection and proactively collect objects which address underrepresented aspects of the Second World War in Northern Ireland. We will facilitate and commission high quality research and publications. 6. Invest in our people and pla People wll remain at the heart of our organisation. We will continue to build an organisational culture which embeds trust, respect, and inclusion. Our Trustees and staff will be engaged and empowered to drive and enable the NIWM to continually change and evolve. This will include an evaluation of roles and responsibilities, additional headcount and review of salaries, pensions and other benefits to inspire and reward success. As an organisation we will be environmentally conscious by minimising waste and reducing our effect on the environment. Trustees have approved an operational plan and budget for the year ending 31 January 2024 based on these agreed strategic priorities. The plan comprises strategic initiatives, key actions and key performance indicators for the year ahead to safeguard effective governance. Funds held as custodian Trustee on behalf of others There are no funds held as custodian Trustee on behalf of others. Statement of Trustees, responsibilities The trustees, who are also directors for the purposes of company law. are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each yearwhich give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure. for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consiSteny. 14
Council of the Northern Ireland War Memorial (Incorporated) - The Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continuedj Year ended 31 January 2023 observe the methods and principles in the applicable Charities SORP., make judgments and accounting estimates that are reasonable and prudent. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor Each of the persons who is a trustee at the date of approval of this report confirms that: so far as they are aware. there is no relevant audit infonatIon of which the charity's auditor is unaware., and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit infomation and to estsblish that the charity's auditor is aware of that information. Small company provisions This report has been ppared in accordance wth the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 22ThJ June 2023 and signed on behalf of the board of trustees by: By order of the Board onel (Retd} D Bigger Chairnian Date.. 22rd June 2023 15