Caseware UK (AP4) 2023.0.135 2023.0.135 Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-3184208897635030754848801798791022198832586786561392Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Company's accounting policies. On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Company which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.No description of principal activity2023-01-01false8102023-12-31 05639463 2023-01-01 2023-12-31 05639463 2022-01-01 2022-12-31 05639463 2023-12-31 05639463 2022-12-31 05639463 2023-01-01 05639463 2022-01-01 05639463 c:CompanySecretary1 2023-01-01 2023-12-31 05639463 c:RegisteredOffice 2023-01-01 2023-12-31 05639463 d:PlantMachinery 2023-01-01 2023-12-31 05639463 d:PlantMachinery 2023-12-31 05639463 d:PlantMachinery 2022-12-31 05639463 d:FurnitureFittings 2023-01-01 2023-12-31 05639463 d:FurnitureFittings 2023-12-31 05639463 d:FurnitureFittings 2022-12-31 05639463 d:OfficeEquipment 2023-01-01 2023-12-31 05639463 d:OfficeEquipment 2023-12-31 05639463 d:OfficeEquipment 2022-12-31 05639463 d:CurrentFinancialInstruments 2023-12-31 05639463 d:CurrentFinancialInstruments 2022-12-31 05639463 d:CurrentFinancialInstruments 3 2023-12-31 05639463 d:CurrentFinancialInstruments 3 2022-12-31 05639463 c:FRS102 2023-01-01 2023-12-31 05639463 c:IndependentExaminationCharity 2023-01-01 2023-12-31 05639463 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05639463 b:Trustee1 2023-01-01 2023-12-31 05639463 b:Trustee2 2023-01-01 2023-12-31 05639463 b:Trustee3 2023-01-01 2023-12-31 05639463 b:Trustee4 2023-01-01 2023-12-31 05639463 b:Trustee5 2023-01-01 2023-12-31 05639463 b:Trustee7 2023-01-01 2023-12-31 05639463 b:Trustee8 2023-01-01 2023-12-31 05639463 b:Trustee9 2023-01-01 2023-12-31 05639463 b:Trustee10 2023-01-01 2023-12-31 05639463 b:Trustee11 2023-01-01 2023-12-31 05639463 b:Trustee12 2023-01-01 2023-12-31 05639463 b:Trustee13 2023-01-01 2023-12-31 05639463 b:UnrestrictedFundsGeneral 2023-01-01 2023-12-31 05639463 b:RestrictedIncomeFunds 2023-01-01 2023-12-31 05639463 b:RestrictedIncomeFunds 2022-01-01 2022-12-31 05639463 b:TotalEndowmentFunds 2023-01-01 2023-12-31 05639463 b:TotalEndowmentFunds 2022-01-01 2022-12-31 05639463 b:RestrictedIncomeFunds 2023-12-31 05639463 b:RestrictedIncomeFunds 2022-12-31 05639463 b:TotalEndowmentFunds 2023-12-31 05639463 b:TotalEndowmentFunds 2022-12-31 05639463 b:Activity1 2023-01-01 2023-12-31 05639463 b:Activity1 2022-01-01 2022-12-31 05639463 b:Activity1 b:TotalEndowmentFunds 2023-01-01 2023-12-31 05639463 b:Activity1 b:TotalEndowmentFunds 2022-01-01 2022-12-31 05639463 b:Activity2 2023-01-01 2023-12-31 05639463 b:Activity2 2022-01-01 2022-12-31 05639463 b:Activity2 b:TotalEndowmentFunds 2023-01-01 2023-12-31 05639463 b:Activity2 b:TotalEndowmentFunds 2022-01-01 2022-12-31 05639463 b:Activity3 2023-01-01 2023-12-31 05639463 b:Activity3 2022-01-01 2022-12-31 05639463 b:Activity3 b:TotalEndowmentFunds 2023-01-01 2023-12-31 05639463 b:Activity3 b:TotalEndowmentFunds 2022-01-01 2022-12-31 05639463 b:Activity4 2023-01-01 2023-12-31 05639463 b:Activity4 2022-01-01 2022-12-31 05639463 b:Activity4 b:TotalEndowmentFunds 2023-01-01 2023-12-31 05639463 b:Activity4 b:TotalEndowmentFunds 2022-01-01 2022-12-31 05639463 b:TotalUnrestrictedFunds 2023-12-31 05639463 b:TotalUnrestrictedFunds 2022-12-31 05639463 b:TotalRestrictedIncomeFunds 2023-12-31 05639463 b:TotalRestrictedIncomeFunds 2022-12-31 05639463 c:FullAccounts 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 05639463
Charity number: 1115243












THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST
 
(A company limited by guarantee)
 

CONTENTS



Page
Reference and administrative details of the Company, its Trustees and advisers
 
1
Trustees' report
 
2 - 6
Independent examiner's report
 
7
Statement of financial activities
 
8
Balance sheet
 
9
Notes to the financial statements
 
10 - 24

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST
 
(A company limited by guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023


Trustees
Mr D J Ashton, Trustee
Air Vice-Marshal C Bairsto, Vice Chair
Ms K Barker, Trustee
Mr D Benton, Trustee
Ms N Brown, Trustee
Wing Commander E Ferguson MBE, Trustee
Air Vice-Marshal I C Morrison CBE, Chair
Wing Commander L R Powell, Trustee
Air Marshal C Spink, Trustee
Ms S Unadkat, Trustee
Air Commdore I Stewart (appointed 23 January 2024)
Mr G Headland (appointed 23 January 2024)

Company registered number
05639463

Charity registered number
1115243

Registered office
The Bentley Priory Museum
Mansion House Drive
Stanmore
Middlesex
HA7 3FB

Honorary secretary
Wing Commander E Ferguson

Accountants
Magee Gammon Corporate Limited
Chartered Accountants
Henwood House
Henwood
Ashford
Kent
TN24 8DH

Page 1

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST
 
(A company limited by guarantee)
 
  
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their annual report together with the financial statements of the Company for the  1 January 2023 to 31 December 2023The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 
 

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
 

Objectives and activities
 

a. Policies and objectives
 

Bentley Priory Battle of Britain Trust was founded at the request of the Battle of Britain Fighter Association, with a primary objective to create a Museum at Bentley Priory – Headquarters Fighter Command during the Battle of Britain. 
After 5 years of planning, fundraising, restoration and curation of accessible and engaging exhibitions, Bentley Priory Museum was officially opened in September 2013, by HRH Prince of Wales, Patron of the Trust’s fundraising appeal. 
The Museum aims to raise awareness of the important history of Bentley Priory, focusing on its pivotal role during the Battle of Britain as Headquarters Fighter Command, through facilitating engagement with the Museum’s unique collection and architecture. The Museum’s narrative focuses on ‘The One’, Air Chief Marshal Sir Hugh Dowding, ‘The Few’, Battle of Britain aircrew, and ‘The Many’, those on the ground whose work was vital to victory. 
The Trustees consider that they have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to Charity Commission guidance on public benefit.
 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
 

Achievements and performance
 

a. Achievements and audience development
 

The Museum welcomed a total of 10,828 visitors in 2023; our second highest admissions since the Museum opened in 2013 (the highest being in 2018 with the RAF’s centenary celebrations) and an increase of 29% from 2022. The increase in admissions reflects the hard work of the Museum staff and volunteer team in welcoming back visitors within the post-Covid recovery period.  
1,741 of these visitors were School students, participating in facilitated workshops by the Museum’s Learning Manager and volunteers– working as a team to learn how to ‘plot’ the Battle of Britain and exploring the galleries narratives of leadership, courage and technology. 
The Museum celebrated its 10-year anniversary since it opened in September 2013 with a volunteer, staff and Trustee celebration event to thank everyone for their hard work and dedication in making the Museum so successful and welcoming over 80,000 visitors over the last decade. The anniversary was marked by Tonic Choir, who performed ‘Bentley Priory Chronicles’ a series of concerts of the history of Bentley Priory. 
A £83,080 grant was secured from the National Lottery Heritage Fund (NLHF) to deliver a heritage project focusing on the women who served within the WAAF in the role of ‘Clerk, Special Duties’; with £15,000 match
Page 2

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST
 
(A company limited by guarantee)
 
Achievements and performance (continued)

funding from the Museum’s designated fund to enhance interpretation within the Operations Room. Project volunteers and Museum staff worked together to research these WAAFs and digitise artefacts to co-curate a temporary exhibition, create new resources for the Brownies and families, and create a permanent interactive timeline ‘Day in the Battle’ for visitors to explore what was happening on each day during the Battle of Britain - on the ground as well as in the skies.  The funding also enabled the Museum to host a Dowding System Families Forum, bringing together families of WAAF veterans, and the first Dowding System Day – a day of talks. The project commenced in February 2023, and was completed in May 2024. The project’s commissioned evaluation report and film highlighted the positive impact of the project on all its participants, from project volunteers to visitors and families of the WAAF who served within these roles. 
An incredible archive relating to the Battle of Britain pilot and youngest Wing Commander in the RAF, Brendan Finucane, has been loaned to the Museum. Finucane’s medals, uniform and treasured pipe are now on display. 
The external redecoration of the Mansion House was completed, paid by residents and the Escrow Fund. The redecoration of the windows was paid directly by the Museum, as outlined in the lease.   
In October, the Museum’s lift broke and after lengthy failed attempts to fix it, it was established that a new control panel is needed. Many visitors and volunteers are dependent on the lift to move between the Museum’s 2 floors so getting it fixed is a priority. 

 


Financial review
 

Visitor admissions of 10,828 generated an income of £55,418.  Shop and café income amounted to £51,794, and  room hire and event income was £6,872, The Endowment Fund granted £116,000 to the Museum, reflecting its stable position
The Museum received a donation of £37,620 from the Stanmore and Harrow Historical Society upon its closure. A £10,000 donation was received to repair the irrigation system and to recreate a handle for the Bunker door to replace one which was destroyed during the site works 10 years ago.
 

a. Key financial performance indicators
 

In the seventh full year of operations, the Museum generated income from admissions, the café, shop, venue hire, fundraising and the Endowment Fund.
Venue Hire continues to be below budget due to levels of corporate hire being lower than pre-Covid periods.
 

b. Going concern
 

The trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
 

Page 3

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST
 
(A company limited by guarantee)
 
Financial review (continued)

c. Reserves
 

At the AGM on 28 September 2022 Trustees agreed and adopted a Reserves Policy which in accordance with the requirements of the Charity Commission takes account of:
a. a major and expensive disruption to our operation;
b. a degradation in revenue that ultimately leads to the failure of the museum;
c. the routine replacement of the interpretation equipment and display material.
The interim total level of reserves for 2017 was set at £100,000 with the expectation of an increase to £200,000 in future years provided that the Museum’s core revenue streams reach their growth targets.
During 2021, in response to the real threats to small museum’s from COVID the Trust further agreed that there was a requirement to further develop the Reserves policy.  It was agreed that there should be:
A Designated Perpetual Maintenance Fund of £100K to meet the routine replacement and maintenance of fixtures and fittings and interpretation and display material
A Designated Closure Reserve of £100,000 is maintained, which would enable the Trust to meet governance, employment and lease obligations in the event of closure.
The Trust had total reserves at 31 December 2023 of £732,944. 
LIBOR Funding is accounted for in a separate designated fund, the LIBOR Fund. The balance on this fund at 31 December 2023 was £277,738. In addition to the LIBOR Fund is the AIM Gallery Blinds Fund which held a balance of £Nil, this was also restricted.
A designated fund of £30,000 as seed funding for a future development of the Operations Room, this had a balance at 31 December 2023 of £23,000. Additionally, a designated fund of £322 has been set towards the funding for the restoration of the bunker door handle.
All other funds amounting to £216,239 are general unrestricted funds.
 

Structure, governance and management
 

a. Constitution
 

Bentley Priory Battle of Britain Trust is a company limited by guarantee governed by its Memorandum and Articles of Association dated 29 November 2005, as amended by a written resolution on 11 July 2006. It is registered with the Charities Commission, registered number 1115243 with effect from 12 July 2006. Anyone can become a member of the Company, if approved by the board of trustees, and there are currently 10 members, each of whom agree to contribute £10 in the event of the charity winding up.
 

Page 4

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST
 
(A company limited by guarantee)
 
Structure, governance and management (continued)

b. Methods of appointment or election of Trustees
 

As set out in the Articles of Association the Chair of Trustees must be a trustee who should be a retired officer of the Royal Air Force in the rank of at least Air Vice-Marshal. If no such person is, in the opinion of the Directors, suitable or no such person is available then at the Directors' discretion the chairman may be a Director who is a retired officer of the Royal Air Force. 
Following the first Annual General Meeting where all directors must retire from office, one third of the directors retire by rotation at subsequent Annual General Meetings. Trustees are eligible for re-election. New Trustees are appointed at the recommendation of the Board of Trustees and all members are circulated with invitations to nominate trustees prior to the AGM.
The trustees serving since the last annual report were as follows:
 
Mr David Ashton (Appointed 28 Nov 17; resigned and reappointed 28 Sep 22; resigned 17 Jul 24)
Air Vice-Marshal Clive Bairsto (Appointed 6 May 15; resigned and reappointed 20 Sep 21) 
Miss Karen Barker (Appointed 28 Nov 17; resigned and reappointed 28 Sep 22)
Ms N Brown (Appointed 28 Jul 14; resigned and reappointed 22 Aug 17; resigned and reappointed 12 Aug 20) 
Mr Dean Benton (Appointed 17 Sep 19)
Wing Commander Erica Ferguson MBE (Appointed 05 Mar 15; resigned and reappointed 20 Sep 21) 
Mr Gary Headland (Appointed 23 Jan 24)
Air Vice-Marshal Ian Morrison (Appointed 17 Sep 19; resigned and reappointed 17 Oct 23)
Wing Commander L R Powell (Appointed 17 Sep 09; resigned and reappointed at 6 May 15; resigned and reappointed 18 Sep 18; Resigned 15 Apr 23)
Air Marshal Cliff Spink (Appointed 1 March 16; resigned and reappointed 17 Sep 20; resigned and reappointed 28 Sep 22) 
Air Cdre Ian Stewart (Appointed 23 Jan 24)
Ms Sangita Unadkat (Appointed 28 Jul 14; resigned and reappointed 22 Aug 17; resigned and reappointed 12 Aug 20; resigned and reappointed 17 Oct 23) 
 

c. Organisational structure and decision-making policies
 

The Board of Trustees administers the charity. The minimum number of Trustees is 2, and the Trust is fortunate to have an experienced, strong board of 10 Trustees, who bring a wide range of skills to the organisation. A Skills Matrix of Trustees is regularly updated. 
On 28 July 2014, the Trustees endorsed the formation of an Executive Committee, to provide the Museum Director with an interface between the operational management of the museum and the strategic governance provided by trustees. 
The Executive Committee currently consisting of 5 Trustees and the Museum’s Director. While strategic governance is effected by the Trustee Board, the Museum Director has delegated authority to manage the museum operation and the associated resources in order to meet the annual objectives set by the Trustee Board.  The Executive Committee of Trustees gives operational oversight and support. 
Routinely, the Executive Committee meet monthly. The Executive Committee can authorise additional expenditure beyond that endorsed by Trustees in the annual budget, which itself is based on the five-year business plan, subject to affordability, up to £5,000 per quarter for running costs and £10,000 per quarter for CAPEX. 
 

d. Risk management
 

The Trustees regularly examine the risk register which records the major strategic, business and operational risks that the charity faces. Trustees carefully monitor the income and expenditure of the Museum at Executive Committee and Board level to ensure financial stability and sustainability. The Risk Register is updated regularly and used to identify early warning of trends and to make strategic decisions at Trustee meetings.
 

Page 5

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST
 
(A company limited by guarantee)
 
Statement of Trustees' responsibilities
 

The Trustees (who are also the directors of the Company 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 Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.


The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


 

Approved by order of the members of the board of Trustees on 24 September 2024 and signed on their behalf by: 
 




___________________________
Air Vice-Marshal I C Morrison CBE
(Chair of Trustees)
Page 6

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

Independent examiner's report to the Trustees of The Bentley Priory Battle of Britain Trust ('the Company')

 
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2023.


Responsibilities and basis of report


As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').


Having satisfied myself that the accounts of the Company 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 Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.


Independent examiner's statement


Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.


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:


1.
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2.
the accounts do not accord with those records; or

3.
the accounts 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 accounts 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 accounts to be reached.


This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.


Signed:      Dated: 24 September 2024

Roland Parry FCA     Institute of Chartered Accountants in England and Wales

Magee Gammon Corporate Limited
Chartered Accountants
Page 7

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST
 
(A company limited by guarantee)


 
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023

Restricted funds
2023
Unrestricted funds
2023
Total
funds
2023
Total
funds
2022
Note

Income from:







Donations and legacies

3

77,726

49,648

127,374

15,446
 
Charitable activities

4

-

230,084

230,084

196,749
 
Investments

5

-

3,724

3,724

4,680
 
Other income

6

-

3,680

3,680

3,698
 
Total income
77,726
287,136
364,862
220,573
Expenditure on:







Charitable activities

7

60,766

340,023

400,789

352,986
 
Total expenditure
60,766
340,023
400,789
352,986

Net income/(expenditure)

  

16,960

(52,887)

(35,927)

(132,413)
 
Transfers between funds

 17 

(4,263)

4,263

-

-
 
Net movement in funds
  
12,697
(48,624)
(35,927)
(132,413)

Reconciliation of funds:

  





Total funds brought forward

  

280,696

488,175

768,871

901,284
 
Net movement in funds

  

12,697

(48,624)

(35,927)

(132,413)
 
Total funds carried forward
  
293,393
439,551
732,944
768,871

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 10 to 24 form part of these financial statements.

Page 8

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST
 
(A company limited by guarantee)
REGISTERED NUMBER: 05639463


 
BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note

Fixed assets
  

Tangible assets
 12 
144,864
204,437

  
144,864
204,437

Current assets
  

Stocks
 13 
17,267
13,683

Debtors
 14 
40,848
35,324

Cash at bank and in hand
  
558,365
548,004

  
616,480
597,011

Creditors: amounts falling due within one year
 15 
(28,400)
(32,577)

Net current assets 
  
 
 
588,080
 
 
564,434

Total net assets 
  
732,944
768,871


Charity funds
  

Restricted funds
 17 
293,393
280,696

Unrestricted funds
 17 
439,551
488,175

Total funds
  
732,944
768,871

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

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

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

The financial statements were approved and authorised for issue by the Trustees on 24 September 2024 and signed on their behalf by:




___________________________
Air Vice-Marshal I C Morrison CBE
(Chair of Trustees)

The notes on pages 10 to 24 form part of these financial statements.

Page 9

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Bentley Priory Battle of Britain Trust, a charitable trust, incorporated in England and Wales under company number 05639463, registered with the Charity Commission under charity number 1115243. The registered office of the charity is Bentley Priory Museum, Mansion House Drive, Stanmore, Middlesex, HA7 3FB.
The company is limited by guarantee. The members of the company are the trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.


2.Accounting policies

  
2.1

Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Bentley Priory Battle of Britain Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

  
2.2

Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured. 

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Company's accounting policies.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Company which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
 

Page 10

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

2.2

Income (continued)

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

  
2.3

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 allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

 
2.4

Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. 

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on an appropriate basis.

Depreciation is provided on the following bases:

Plant and machinery
-
Between 3 years and 6 years straight line
Fixtures and fittings
-
Between 3 years and 25 years straight line
Office equipment
-
33% straight line

  
2.5

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Page 11

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.6

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

  
2.7

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.


2.8

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

  
2.9

Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

  
2.10

Pensions

The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.

  
2.11

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 12

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.

Income from grants, donations and legacies




Restricted funds
2023
Unrestricted funds
2023
Total
funds
2023
 



Donations

-

49,648

49,648

Grants

77,726

-

77,726



77,726
49,648
127,374




Restricted funds
2022
Unrestricted funds
2022
Total
funds
2022



Donations

-

6,488

6,488

Grants

2,958

6,000

8,958



2,958
12,488
15,446


4.

Income from charitable activities



Unrestricted funds
2023
Total
funds
2023



Museum entrance income

55,418

55,418

Endowment income

116,000

116,000

Shop and catering income

51,794

51,794

Room hire and event income

6,872

6,872



230,084
230,084



Unrestricted funds
2022
Total
funds
2022



Museum entrance income

46,429

46,429

Endowment income

100,000

100,000

Shop and catering income

43,212

43,212

Room hire and event income

7,108

7,108



196,749
196,749

Page 13

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.

Investment income



Unrestricted funds
2023
Total
funds
2023



Interest received

3,724

3,724




Unrestricted funds
2022
Total
funds
2022



Interest received

4,680

4,680



6.

Other incoming resources



Unrestricted funds
2023
Total
funds
2023



Royalties

68

68

Partial exemption VAT recoupment

3,612

3,612



3,680
3,680



Unrestricted funds
2022
Total
funds
2022



Partial exemption VAT recoupment

3,174

3,174

Royalties

24

24

Business interruption claim

500

500



3,698
3,698

Page 14

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.

Analysis of expenditure on charitable activities


Summary by fund type




Restricted funds
2023
Unrestricted funds
2023
Total
2023




Museum costs

60,766

340,023

400,789





Restricted funds
2022
Unrestricted funds
2022
Total
2022




Museum costs

5,987

346,999

352,986



8.

Analysis of expenditure by activities



Support costs
2023
Total
funds
2023



Museum costs

400,789

400,789





Support costs
2022
Total
funds
2022



Museum costs

352,986

352,986



Page 15

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.Analysis of expenditure by activities (continued)

Analysis of support costs



Activities
2023
Total
funds
2023



Staff costs

141,971

141,971

Depreciation

63,836

63,836

Insurance

26,670

26,670

Maintenance costs

40,569

40,569

Rates and utility bills

15,536

15,536

Administration and office expenses

47,450

47,450

Learning centre activities

547

547

Museum costs

50,000

50,000

Marketing costs

1,634

1,634

Accountancy fees

9,270

9,270

Independent examination fees

3,306

3,306



400,789
400,789



Activities
2022
Total
funds
2022



Staff costs

130,249

130,249

Depreciation

74,803

74,803

Insurance

24,613

24,613

Maintenance costs

45,749

45,749

Rates and utility bills

14,405

14,405

Administration and office expenses

37,289

37,289

Learning centre activities

89

89

Museum costs

10,583

10,583

Marketing costs

3,266

3,266

Accountancy fees

8,820

8,820

Independent examination fees

3,120

3,120



352,986
352,986


9.

Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £3,306 (2022 - £3,120).
Page 16

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.



Staff costs


2023
2022


Wages and salaries
133,381
123,130

Social security costs
4,988
3,733

Contribution to defined contribution pension schemes
3,602
3,386

141,971
130,249

The average number of persons employed by the Company during the year was as follows:


2023
2022

No.
No.


8
10

No employee received remuneration amounting to more than £60,000 in either year.





11.


Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the year ended 31 December 2023, no Trustee expenses have been incurred (2022 - £NIL).

Page 17

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Tangible fixed assets




Plant and machinery
Fixtures and fittings
Office equipment
Total


Cost or valuation

At 1 January 2023
171,476
1,032,246
26,634
1,230,356

Additions
3,405
-
858
4,263


At 31 December 2023

174,881
1,032,246
27,492
1,234,619


Depreciation

At 1 January 2023
154,906
846,031
24,982
1,025,919

Charge for the year
15,693
46,302
1,841
63,836


At 31 December 2023

170,599
892,333
26,823
1,089,755


Net book value


At 31 December 2023
4,282
139,913
669
144,864


At 31 December 2022
16,570
186,215
1,652
204,437


13.



Stocks


2023
2022

Finished goods
17,267
13,683


14.



Debtors


2023
2022


Due within one year

Other debtors
16,294
13,817

Prepayments and accrued income
24,554
21,507

40,848
35,324

Page 18

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

15.



Creditors: Amounts falling due within one year


2023
2022


Trade creditors
3,499
1,846

Other taxation and social security
3,219
2,542

Pension fund loan payable
1,020
912

Accruals and deferred income
20,662
27,277

28,400
32,577


16.



Financial instruments


2023
2022

Financial assets

Financial assets measured at fair value through income and expenditure
558,364
548,004


Financial assets measured at fair value through income and expenditure comprise cash at bank and in hand.

Page 19

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

17.

Statement of funds


Statement of funds - current year

Balance at 1 January 2023
Income
Expenditure
Transfers in/out
Balance at 31 December 2023

Unrestricted funds






Designated funds







Perpetual Maintenance Fund

100,000

-

-

-

100,000
 
Closure Reserve

100,000

-

-

-

100,000
 
Operations Room

30,000

-

-

(7,000)

23,000
 
Bunker Door Handle

322

-

-

-

322
 



230,322
-
-
(7,000)
223,322

General funds







General Funds

257,853

287,136

(340,023)

11,263

216,229
 
Total Unrestricted funds




488,175

287,136

(340,023)

4,263

439,551

Restricted funds







The Ministry of Defence (LIBOR)

277,738

-

-

-

277,738
 
AIM Gallery Blinds

2,958

2,954

(5,912)

-

-
 
Clerk Special Duties (HLF)

-

74,772

(54,854)

(4,263)

15,655
 



280,696
77,726
(60,766)
(4,263)
293,393

Total of funds


768,871
364,862
(400,789)
-
732,944

Page 20

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

17.

Statement of funds (continued)



Statement of funds - prior year

Balance at
1 January 2022
Income
Expenditure
Transfers in/out
Balance at
31 December 2022

Unrestricted funds






Designated funds







Perpetual Maintenance Fund

100,000

-

-

-

100,000
 
Closure Reserve

100,000

-

-

-

100,000
 
Operations Room

30,000

-

-

-

30,000
 
Bunker Door Handle

-

322

-

-

322
 



230,000
322
-
-
230,322

General funds







General Funds

374,251

217,293

(346,999)

13,308

257,853
 
Total Unrestricted funds




604,251

217,615

(346,999)

13,308

488,175


Restricted funds







The Ministry of Defence (LIBOR)

281,805

-

(4,067)

-

277,738
 
NLHF Bunker Project

15,228

-

(1,920)

(13,308)

-
 
AIM Gallery Blinds

-

2,958

-

-

2,958
 



297,033
2,958
(5,987)
(13,308)
280,696


Total of funds


901,284
220,573
(352,986)
-
768,871

Page 21

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

18.


Description of funds

The Ministry of Defence (LIBOR) (Restricted Fund)
LIBOR funding from the Ministry of Defence (MoD) on behalf of Her Majesty's Treasury (HMT) to enable the enhancement of the Museum's Learning Centre, develop the Schools Learning Resource and to subsidise school lessons. 
The National Lottery Heritage Fund (Restricted Fund)
The Bunker funding from the National Lottery Fund for Heritage is a grant to deliver a project, focusing on the changing role of the Bentley Priory Bunker and those who worked underground in it from World War 2 to the Cold War. The transfer in the year is to reimburse the expenditure and staff costs incurred by the general fund on behalf of this project.
Association of Independent Museums (AIM) (Restricted Fund)
The funding received from Association of Independent Museums is a grant for the fitting of blinds to one of the museums galleries to prevent sunlight damage to the collection.
Perpetual Maintenance Fund (Designated Fund)
In 2017 the trustees set up this designated fund to cover the Charity's running costs in the event of a major disruption.
Closure Fund (Designated Fund) 
In 2021 the trustees set up this designated fund, of £100,000, which would enable the Trust to meet governance, employment and lease obligation in the event of closure. 
Operations Room Fund (Designated Fund) 
A designated fund of £30,000 has been set towards the funding for future developments of the Operations Room, by the trustees, in the year. 
Bunker Door Handle Fund (Designated Fund)
A designated fund of £322 has been set towards the funding for the restoration of the bunker door handle.
Clerk Special Duties (HLF)
A grant received from The National Lottery Heritage Fund, focusing on the WAAF who served in the role of 'Clerk, Special Duties' during World War II. Project volunteers recruited to co-curate a temporary exhibition and new interactive timeline 'Day in the Battle', with new resources created for families and for Brownies.

Page 22

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

19.

Summary of funds


Summary of funds - current year

Balance at 1 January 2023
 
Income
 
Expenditure
 
Transfers in/out
 
Balance at 31 December 2023
 
Designated funds

230,322

-

-

(7,000)

223,322
 
General funds

257,853

287,136

(340,023)

11,263

216,229
 
Restricted funds

280,696

77,726

(60,766)

(4,263)

293,393
 


768,871
364,862
(400,789)
-
732,944


Summary of funds - prior year

Balance at
1 January 2022
 
Income
 
Expenditure
 
Transfers in/out
 
Balance at
31 December 2022
 
Designated funds

230,000

322

-

-

230,322
 
General funds

374,251

217,293

(346,999)

13,308

257,853
 
Restricted funds

297,033

2,958

(5,987)

(13,308)

280,696
 


901,284
220,573
(352,986)
-
768,871


20.

Analysis of net assets between funds

Analysis of net assets between funds - current year

Restricted funds
2023
Unrestricted funds
2023
Total
funds
2023



Tangible fixed assets

-

144,864

144,864

Current assets

295,303

321,177

616,480

Creditors due within one year

(1,920)

(26,480)

(28,400)

Difference

10

(10)

-

Total 


293,393
439,551
732,944


Page 23

 
THE BENTLEY PRIORY BATTLE OF BRITAIN TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

20.Analysis of net assets between funds (continued)


Analysis of net assets between funds - prior year

Restricted funds
2022
Unrestricted funds
2022
Total
funds
2022



Tangible fixed assets

-

204,437

204,437

Current assets

282,616

314,395

597,011

Creditors due within one year

(1,920)

(30,657)

(32,577)

Total 

280,696
488,175
768,871


21.


Pension commitments

The trust operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the trust in an independently administered fund. The pension cost charge represents contributions payable by the trust to the fund and amounted to £3,602 (2022 - £3,386). Contributions totalling £1,020 (2022 - £912) were payable to the fund at the balance sheet date and are included in creditors.

Page 24