Charity registration number 1179982
Company registration number 11273253 (England and Wales)
MANSTON HISTORY MUSEUM
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
MANSTON HISTORY MUSEUM
CONTENTS
Page
Trustees' Report report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 12
MANSTON HISTORY MUSEUM
TRUSTEES' REPORT REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charity's objectives are to record the history of RAF Manston and its surrounding satellites at RAF Ash, RAF Sandwich and RAF Dunkirk. This is achieved through increasing its collection of artifacts and through maintenance of existing exhibits, and providing an insight into the history through its museum and events.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance
Significant activities and achievements against objectives

The charity has continued to develop over the period and has continued to meet its aims and objectives.

Financial review

During the year, there was a increase in net assets for the charity of over £75,000

Reserves policy

The charity has maintained reserves to ensure that it can continue to achieve its aims and to purchase artifacts and exhibits as they become available. These will vary, and the trustees will regularly review the reserves held.

 

Structure, governance and management

The charity is structured to enable the museum to borrow, purchase and maintain artifacts from the RAF. At the year end there are 10 trustees who serve the charity to ensure it meets its objectives.

 

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

M Everall
T Brooks
D Howlett
D Smith
J Groombridge
M Izzard
T Groombridge
W Lawrence
A Slaney
B Wray
A Cowell
(Resigned 2 March 2023)
Recruitment and appointment of trustees

 

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

MANSTON HISTORY MUSEUM
TRUSTEES' REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -

 

The Trustees' report report was approved by the Board of Trustees.

D Howlett
M Izzard
19 February 2024
MANSTON HISTORY MUSEUM
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF MANSTON HISTORY MUSEUM
- 3 -

I report to the trustees on my examination of the financial statements of Manston History Museum (the charity) for the year ended 31 March 2023.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Mark Hurdman BA(Hons) FCA
3 Lloyd Road
Broadstairs
Kent
CT10 1HY
UK
Dated: 19 February 2024
MANSTON HISTORY MUSEUM
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:
Donations and legacies
3
120,073
107,032
Other trading activities
4
37,891
64,518
Investments
5
2,668
2,320
Total income
160,632
173,870
Expenditure on:
Raising funds
6
15,602
12,472
Charitable activities
7
69,635
63,137
Total expenditure
85,237
75,609
Net income and movement in funds
75,395
98,261
Reconciliation of funds:
Fund balances at 1 April 2022
235,410
137,149
Fund balances at 31 March 2023
310,805
235,410

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

MANSTON HISTORY MUSEUM
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 5 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
11
286,353
257,563
Current assets
Cash at bank and in hand
58,863
14,344
Creditors: amounts falling due within one year
13
31,154
16,171
Net current assets/(liabilities)
27,709
(1,827)
Total assets less current liabilities
314,062
255,736
Creditors: amounts falling due after more than one year
14
(3,257)
(20,326)
Net assets
310,805
235,410
The funds of the charity
Unrestricted funds
310,805
235,410
310,805
235,410

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 19 February 2024
D Howlett
M Izzard
Trustee
Trustee
Company registration number 11273253 (England and Wales)
MANSTON HISTORY MUSEUM
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
1
Accounting policies
Charity information

Manston History Museum is a private company limited by guarantee incorporated in England and Wales. The registered office is 3 Lloyd Road, Broadstairs, Kent, CT10 1HY, UK.

 

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
MANSTON HISTORY MUSEUM
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 7 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Long leasehold property
2% straight line
Fixtures and fittings
15% reducing balance
Equipment
15% reducing balance
Museum artifacts
5% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

MANSTON HISTORY MUSEUM
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 8 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Donations and gifts
120,073
106,832
Membership fees
-
200
MANSTON HISTORY MUSEUM
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 9 -
4
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Fundraising events
1,999
-
Shop income
35,892
64,518
Other trading activities
37,891
64,518
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Rental income
2,661
2,320
Interest receivable
7
-
2,668
2,320
6
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Fundraising and publicity
Staging fundraising events
1,880
602
Trading costs
Operating charity shops
13,722
11,870
Total costs
15,602
12,472
MANSTON HISTORY MUSEUM
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 10 -
7
Expenditure on charitable activities
Heading #ac982
Heading #ac982
2023
2022
£
£
Direct costs
Depreciation and impairment
16,593
14,469

Light and heat

5,867
-

Repairs and maintenance    

22,319
19,820

Insurance    

4,421
4,264

Motor vehicle expenses

2,619
1,447

Telephone

596
413

Other office costs

8,422
10,357

Other interest payable

2,536
1,309

Accountancy

660
570

Cleaning

4,342
6,658

Equipment hire

-
1,907

Legal and professional

1,260
1,923
69,635
63,137
Analysis by fund
Unrestricted funds
69,635
63,137
8
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
11
10
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

10
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

MANSTON HISTORY MUSEUM
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 11 -
11
Tangible fixed assets
Long leasehold property
Fixtures and fittings
Equipment
Museum artifacts
Total
£
£
£
£
£
Cost
At 1 April 2022
195,927
43,684
34,700
13,766
288,077
Additions
-
-
12,132
33,250
45,382
At 31 March 2023
195,927
43,684
46,832
47,016
333,459
Depreciation and impairment
At 1 April 2022
6,883
11,627
10,683
1,320
30,513
Depreciation charged in the year
4,077
4,809
5,422
2,285
16,593
At 31 March 2023
10,960
16,436
16,105
3,605
47,106
Carrying amount
At 31 March 2023
184,967
27,248
30,727
43,411
286,353
At 31 March 2022
189,044
32,057
24,017
12,445
257,563
12
Loans and overdrafts
2023
2022
£
£
Bank overdrafts
-
450
Bank loans
7,250
24,319
7,250
24,769
Payable within one year
3,993
4,443
Payable after one year
3,257
20,326
13
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Bank loans and overdrafts
12
3,993
4,443
Trade creditors
18,960
4,148
Other creditors
8,201
7,580
31,154
16,171
MANSTON HISTORY MUSEUM
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 12 -
14
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans
12
3,257
20,326
15
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2022
Incoming resources
Resources expended
At 31 March 2023
£
£
£
£
General funds
235,410
160,632
(85,237)
310,805
Previous year:
At 1 April 2021
Incoming resources
Resources expended
At 31 March 2022
£
£
£
£
General funds
137,149
173,870
(75,609)
235,410
16
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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