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REGISTERED NUMBER: 10650172 (England and Wales)















INTERNATIONAL BOMBER COMMAND CENTRE
LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






INTERNATIONAL BOMBER COMMAND CENTRE
LIMITED (REGISTERED NUMBER: 10650172)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


INTERNATIONAL BOMBER COMMAND CENTRE
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs N M van der Drift OBE
ACM Sir M GraydonGCB CBE FRAeS
AVM (Ret) P A Robinson OBE FRAeS





REGISTERED OFFICE: International Bomber Command Centre
Canwick Avenue
Lincoln
Lincolnshire
LN4 2HQ





REGISTERED NUMBER: 10650172 (England and Wales)





AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

INTERNATIONAL BOMBER COMMAND CENTRE
LIMITED (REGISTERED NUMBER: 10650172)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,912 2,024

CURRENT ASSETS
Stocks 39,799 46,487
Debtors 5 12,041 8,616
Cash at bank and in hand 29,533 20,701
81,373 75,804
CREDITORS
Amounts falling due within one year 6 89,185 77,728
NET CURRENT LIABILITIES (7,812 ) (1,924 )
TOTAL ASSETS LESS CURRENT LIABILITIES 100 100

CAPITAL AND RESERVES
Called up share capital 7 100 100
SHAREHOLDERS' FUNDS 100 100

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2024 and were signed on its behalf by:





Mrs N M van der Drift OBE - Director


INTERNATIONAL BOMBER COMMAND CENTRE
LIMITED (REGISTERED NUMBER: 10650172)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

International Bomber Command Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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 business from suppliers. Accounts 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


INTERNATIONAL BOMBER COMMAND CENTRE
LIMITED (REGISTERED NUMBER: 10650172)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 11,928
Additions 7,954
At 31 March 2024 19,882
DEPRECIATION
At 1 April 2023 9,904
Charge for year 2,066
At 31 March 2024 11,970
NET BOOK VALUE
At 31 March 2024 7,912
At 31 March 2023 2,024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,656 4,808
Other debtors 6,385 3,808
12,041 8,616

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 15,200 18,591
Amounts owed to group undertakings 7,188 19,654
Taxation and social security 36,558 23,110
Other creditors 30,239 16,373
89,185 77,728

INTERNATIONAL BOMBER COMMAND CENTRE
LIMITED (REGISTERED NUMBER: 10650172)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alistair Main FCA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

9. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is Lincolnshire Bomber Command Memorial, a charitable company limited by guarantee. The registered office is Lincolnshire Bomber Command Memorial, Canwick Avenue, Lincoln, Lincolnshire, England, LN4 2HQ.