Council of the Northern Ireland War Memorial (Incorporated) - The
Company Limited by Guarantse
Trustees. Annual Report (Incorporating the Director's Report)
Year ended 31 January 2024
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 2024.
Reference and administrative details
Registered charity name:
Council of the Northem Ireland War Memorial (Incorporated)
Charity registration nurnber:
103635
Company registratlon
number:
N1002888
Principal and registsred
office:
21 Talbot Street
Belfast
BT12LD
Directorsrrrustees:
Colonel (Retd) D Bigger- Chairperson
Dr B E Barton
Mr K Beattie (Resigned 7th December 2023)
Mrs C Champion DL- VI￿ Chairperson
Mr J L Costain (Appointed P December 2023)
Flight Lieutenant A J Crowther (Resigned 5th April 2024)
Mrs C Dixon (Retired 18th July 2023)
Mr R Doherty FIRSO
Major K M J Guthrie MBE
Mr R B Hannam
Lieutenant Colonel C T Hogg MBE KStJ UD JP DL
Mr M G Logan JP
Ms J R Williams (Appointed 7th De￿mber 2023)
Company secretary:
Flight Lieutenant A J Crowther (Resigned 51h April 2024)
Auditor:
Finegan Gibson Ltd
Chartered accountsnt and statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN
Bankers:
Danske Bank
Donegall Square West
Belfast
BT16JS
Sollcltors:
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 Director's Report) (continued)
Year ended 31 January 2024
Councll
members..
Colonel JM Steele CB OBE TD DL (Patron) (Retired 22nd March 2024)
Mr C Bailey (Resigned 23rd April 2023)
Lieutenant Colonel M Barnes OBE TD
Mr K Beattie (Resigned 71h December 2023)
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 J L Costain (Appointed 7th December 2023)
Mr P Cregg MBE
Flight Lieutenant A J Crowther
Mr J Davies MBE
Mrs C Dixon (Retired 18th July 2023)
Colonel A M Donaldson MBE OStJ VR DL
Dr B Duff Bsc MA Dip CS PhD FRGS FRUSI
Colonel S M Elder MBE TD JP DL
Major K M J Guthrie MBE
Mr R B Hannam
Colonel l G Henderson OBE TD MSc(Econ)
Ms E Hill (Appointed 21st September 2023)
Lieutenant Colonel C T Hogg MBE KStJ UD JP DL
MrNJIHogg
Mr S Johnston
Captain J D Mccahon (Resigned 3151 March 2024)
Mr C McGuicken
Commander R Milligan
Mr l Montgomery (Resigned 6th June 2023)
Mr C Moore (Appointsd 215t September 2023)
Mr T Parkhill
Mr L Quigg BEM
Colonel A H Reid OBE TD DL
Mr T Ringland (Appointed 2181 September 2023)
Lieutenant Commander E M Shanks RD
Chief Officer P Shaw RD DL
Mr N Spence
Lieutenant Colonel K Thomas MBE RE (Appointed 21st March 2024)
Lieutenant Colonel DW F Twigg MBE CStJ JP
Mrs C Walker
Mr G Warner
Mr l A Wilson
Commander H B White VRD
Ms J R Williams (Appointed 7th December 2023)

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 2024
Structure, governance and management
Governing document
The Council of the Northern Ireland War 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-to-day management of the charity. All decisions are made by the Board
of Twstees.
Appolntment 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 reelection.
Trustee induction and training
The Chairman 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 Council.
The system of internal financial control is based on a framework of regular management information;
administrative prO￿dUres. and a system of delegation and accountability.
The Board of Trustees has assessed the major risks to which the Council of the Northern Ireland War Memorial
(Incorporated) is exposed, in particular those related to the operations and finances of the Council, and is
satisfied that systems are in place to mitigate any exposure to major risks.
Public beneflt
Acknowledgement of the Council of the Northern Ireland War 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 funding to
primary schools towards the travel Costs of classes visiting the gallery.
The building and its offices within, maintained by the charity. are significant in supporting the amenities and
ServI￿S 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 Northem
Ireland and look fotward with confidence 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) {continue
Year ended 31 January 2024
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 FOr￿S 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 perf0rnan￿ of the Charity in meeting its objectives for the year ended 31
January 2024.
2023 completed the first year of the current strategic plan (2023-2027).
This five year plan was agreed by the Board in December 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.
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 impact of the war on its people.
Mission Statement
The Northern Ireland War Memorial was established to provide an enduring memorial for the men and women
of Northem Ireland who died in the fwo World Wars, and to commemorate the American presence in
Northem Ireland during the Second World War.
Now an Accredited Museum, our mission is to tell the story of Northern Ireland's role in the Second Wortd 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 Offi￿ 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 excellence- 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.

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 2024
Working together- By promoting 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 ￿rnernber 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 Sha￿ our stories
The following 6 strategic aims and their associated objectives, outcomes and key performance indicators provide
the framework for the development of the Council of the Northern Ireland War Memorial and how the senior
management team report to the Trustees.
Strategic aim 1
Redevelop
strategic priorities
strategic
initiative for
2023
Board to agree on
project concept,
budget and
timeframe for
capital works in
the museum.
Key actions for 2023
Key performance
indicators
We will transft)rm 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 fitting
way.
Agree on key themes and
priorities.
Agreed themes,
priorities, objects.
Select key objects and stories
from NIVVM collection and identify
potential loans and acquisitions.
Research and storyline
initiated.
Site audit and master
plan completed to create
various project concepts.
Begin storyline development,
identifying research requirements.
Engage interpretive planner to
complete site audit, master
planning, visitor experience and
audi¢>visuallAR concept planning
and provide art direction.
Timeframe and budget
for fit-out agreed.
We will embrace digital
technology and ensure
we exhibit objects and
stories that reflect the
whole of Northem
Ireland's experience in
the Second World
War. to full potential.
Suppliers identified
Medialpublic interest in
project.
Identify suitable providers of
environmental control equipment,
heating and lighting for museum
spa￿.
Grants explored.
We will seek grant
assistance and value
for money and consult
our audiences
throughout the
process.
Continued
communication with
tenants.
Ensure public engagement with
project through marketing strategy.
Explore available grant
opportunities.
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.
Liaise with tenants on future
requirements.

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 2024
Strategic aim 2
Income diversification
Strategic priorities
Strateglc
initiative for
2023
Board to begin
to consider
alternative
investment
ortunities.
Key actions for 2023
Key performance indlcators
We will explore new
ways to
create an income for
the charity-
Reach out to propety
management consultants to
consider potential future
opportunities during the
strate
ic
eriod.
No potential or suitable
opportunities highlighted during
the year.
Strategic alm 3
Offering inspiring experiences and increasing our reach
Strategic priorities
strategic initiative
for 2023
Increase engagement
across Northern
Ireland.
Key actions for 2023
Key perfonnance
indicators
Visitor profiling and
access audit completed.
We will develop our
existing learning and
outreach programmes
and increase capacity
by engaging with
people in the museum
and across Northem
Ireland through
outreach.
Undertake visitor
researchlprofiling to
understand who is not visiting
the museum.
Approval of access plan
and achievement of
objectives.
Complete Ac￿sS audit
(required by Museum
Accreditation) and develop
Ac￿sS Plan to ensure
improvements are made.
Achievement of
engagement targets.
We will work with a
wide range of partners
to maximise our
impact.
Implementation of
Marketing Strategy.
Increase capacity for primary
school outreach thn)ugh
revision of Learning Facilitator
role and working hours.
An extended
geographical reach with
outreach activities in all
six counties of Northem
Ireland.
We will continue to
provide small grants to
projects which are in
line with our charitable
objectives.
Increase awareness of primary
school and community
outreach programmes through
Marketing Strategy.
Second World War map
of Nl started to be
developed.
Deliver an expanded range of
outreach and partnership
activities including but not
limited to..
An Elephant Never Forgets
primary school project in
partnership with Belfast Zoo
funded through The Wild
Escape by Art Fund and Arts
Council England (via Northern
Ireland Museums Council).
£3,750 awarded to
projects in line with
charitable objectives.
Victory Voices community
outreach project in partnership
with Karen Diamond funded by
Arts Council Nl Art and Older
People Grant Programme.
Jeannie's Adventure project
with
reschools, funded b the

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 2024
Northern Ireland Museums
Council Playful Museums
Project.
Develop a map of Northem
Ireland highlighting key Second
World War sites.
strategic aim 4
Supporting the erection of a fitting Blitz Memorial in Belfast
Strateglc priorities
Strategic
initiative for
2023
To agree on
design and
budget for Blitz
Memorial.
Key actions for 2023
Key perfomiance
indicators
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.
Support the progress of this
project through development of
a Belfast Blitz Memorial
Committee with NIWM and BCC
representation.
Continued partnership with
Belfast City Council to
ensure progression of
project.
Timetable agreed for
stages of Memorial design
and installation.
Development of terrns of
reference for Belfast Blitz
Memorial Committee.
We will explore
memorials in other
areas that suffered air
raids (Londonderry,
Bangor and
Newtownards).
Committee to undertake
historical research and agree
timetable for public consultation
on names and redesign of
memorial.
Reach out to Bangor and Derry
City Councils regarding
memorial to Blitz victims in
these areas.

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 2024
Strategic aim S
Developing and valuing our Collection
Strategic prioritles
Strategic initiatlve
for 2023
Develop collection
and facilitate
research so that the
NIWM represents
Northern Ireland in
the Second World
War more
comprehensively.
Key actions for 2023
Key perforniance
Indicators
New acquisitions and
donations reported to
Museum Committee
throughout year.
We have a growing
collection which is at
the heart of everything
we do, and we will
ensure it develops to
represent the whole of
Northern 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.
Continue to collect objects
proactively, in line with
Collections Development
Policy, addressing gap areas
highlighted through a review of
the collection.
Museum Accreditation
returns SUC￿SsfUl.
Retain our status as an
Accredited Museum (retum due
June 2023).
Published The American
Red Cross in Northem
Ireland and History of the
Northern Ireland War
Memorial.
Publish and launch The
AmeriGan Red Cross in
Northern Ireland by Clive
Moore.
Publish and launch The History
of the Northern Ireland War
Memorial to mark 60th
anniversary of the opening of
the original War Memorial
building on Waring Street in
October 1963.
We will facilitate and
commission high
quality research and
publications.
Strategic aim 6
Invest in our people and place
Strategic priorities
Strategic initiative
for 2023
Evaluation of roles
and responsibilities,
additional
headcount and
review of salaries,
pensions and other
benefits to inspire
and reward
success.
Key actions for 2023
Key performance
indicators
HR audit
recommendations
completed.
People will remain at
the heart of our
organisatj'on. Vve will
continue to build an
organisational culture
which embeds trust,
respect, and inclusion.
Complete HR audit
recommendations which
include introducing hybrid
working and staff wellbeing
policies.
Staff training records and
regular appraisals with all
staff.
Promote, maintain and develop
professional skills and core
competencies in our staff
through focused training for all
team members.
Our Trustees and staff
will be engaged and
empowered to drive
and enable the NIWM
to continually change
and evolve.
Increased headcount and
reviewed roles.
As an organisation
we will be
environmentally
conscious by
minimising waste
and reducing our
effect on the
environment.
Increased benefits to staff.
Support staff through bi-annual
appraisals.
A happy and valued
operational team and
Board of Trustees.
Trustee succession planning
and training as required.
Term5 of reference
created for sub
Committees.
Increase headcount and review
all roles and salaries.

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 2024
Review NIWM pension
contribution and introduce other
benefits for staff.
Company off-sites
organised.
Reduced impact on the
environment and
environmental champion
appointed.
Conduct effective Board and
Committee meetings.
Organise company off-sites.
Appoint an environmental
champion within the operational
team.
Fundamental to the Trustees is safeguarding the organisation's ability to self-finance to meet its objectives. As
most of the Charity's income is generated from investments, the Trustees engaged ￿0 independent investment
managers to administer its portfolio in accordance with a policy of achieving a balance befween income and capital
growth with medium risk. The investments generated income of £180,740 (2023: £153,487) in the year.
The 1000/0 owned subsidiary NI￿ 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 stability 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. 2023 marked a much-needed
comeback when it came to market performance after a dreadful 2022. Bolstered by the combination of a solid
economy, better than expected corporate earnings, and an apparent end to interest rate hikes, stocks rallied in
the second half of 2023.
Net gains in revaluation of investment assets (realised and unrealised) amounted to £526,629 (2023: Ioss
£515,663). Net gains in revaluation recorded for the year ending January 2024 translates as 6.16 % of portfolio
value held at year-end, with £395k withdrawn from the portfolio during the year to fund charitable objectives. 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 2025.
The Trustees view 2024 as a year of normalisation. The drivers of the equity bull market remain intact and
disintlation continues across developed economies, boosting ￿ntral banks, confidence to stsrt cutting interest
rates. The number of rate cuts may be moderate, but it would signal an orderly soft landing, instead of a
recessionary scenario. 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 16 and 17.

Council of the Northern Ireland War Memorial (Incorporated) - The
Company Limited by Guarantee
Trustees. Annual Report {Incorporating the Director's Report) (eontlnued)
Year ended 31 January 2024
Reserves policy
The Council has established a policy whereby the uninvested funds not committed or invested in tangible fixed
assets (the free reserves) held by the Council should be in excess of at least one year's 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 conseNation requirements.
The actual free reserves at 31 January 2024 were £993,502 (2023: £1,072,751) (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 return. 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 Associats'on the Trustees have the power to invest in any way the Council
wishes. The investment policy of the Council of the Northern 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 investments to achieve a balance between growth of income and capital. with medium
risk.
Donations
The Council made charitable donations amounting to £200 (2023: £200) 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
{2023.- £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 War 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 uncertain economic times.
Resources will be managed in a cost-effective manner. Expenditure will be strictly monitored and controlled
without compromising quality of servi￿. Management structures will be kept under review and monitored to
ensure that good governance prevails and exposure of the charity too is minimised.
Trustees have approved an operational plan and budget for the year ending 31 January 2024 based on the agreed
Strategic priorities set out in the plan (2023-2027). The plan comprises strategic initiatives, key actions and key
performance indicators for the year ahead to safeguard effective governan￿.
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,
port and the financial statements in accordan￿ with applicable law and United Kingdom Accounting Standards
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 2024
(United Kingdom Generally AC￿pted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair
view of the state of affairs of the charitable company and the incoming reSoUr￿S and application of resources,
including the income and expenditure, for that period.
n preparing these financial statements, the trustees are required to..
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP.,
make judgments and accounting estimates that are reasonable and pnjdent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that a￿ 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 infomiation 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 information and to establish that the charity's auditor is aware of that information.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small
companies exemption.
The trustees, annual report was approved on 13th June 2024 and signed on behalf of the board of trustees by:
By order of the Board
Colonel (Retd) D Bigger
Chairman
Date.. 13bl June 2024
11