National Army Museum Foundation Charity Accounts

NATIONAL ARMY MUSEUM FOUNDATION - Company Information

0 false false false false false false true false false false false false true No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021_Charity xbrli:pure xbrli:shares iso4217:GBP 8391033 2021-04-01 2022-07-31 8391033 2022-07-31 8391033 2021-03-31 8391033 2020-04-01 2021-03-31 8391033 2021-03-31 8391033 2020-03-31 8391033 bus:LeadAgentIfApplicable 2021-04-01 2022-07-31 8391033 char:Trustee1 2021-04-01 2022-07-31 8391033 char:Trustee5 2021-04-01 2022-07-31 8391033 char:Trustee7 2021-04-01 2022-07-31 8391033 char:Trustee8 2021-04-01 2022-07-31 8391033 bus:CompanySecretary1 2021-04-01 2022-07-31 8391033 char:TotalRestrictedIncomeFunds 2021-03-31 8391033 char:TotalRestrictedIncomeFunds 2021-03-31 8391033 char:TotalRestrictedIncomeFunds 2021-04-01 2022-07-31 8391033 char:TotalRestrictedIncomeFunds 2020-04-01 2021-03-31 8391033 core:WithinOneYear 2021-03-31 8391033 bus:FRS102 2021-04-01 2022-07-31 8391033 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-07-31 8391033 bus:FullAccounts 2021-04-01 2022-07-31 8391033 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-07-31 8391033 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-07-31

COMPANY REGISTRATION NUMBER: 8391033

CHARITY REGISTRATION NUMBER: 1152895

National Army Museum Foundation

Company Limited by Guarantee

Unaudited Financial Statements

31 July 2022

National Army Museum Foundation

Company Limited by Guarantee

Financial Statements

Period from 1 April 2021 to 31 July 2022

	Page

Trustees' annual report (incorporating the director's report)	1

Independent examiner's report to the trustees	3

Statement of financial activities (including income and expenditure account)	4

Statement of financial position	5

Notes to the financial statements	6

National Army Museum Foundation

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Period from 1 April 2021 to 31 July 2022

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the period ended 31 July 2022 .

REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name	National Army Museum Foundation

Charity registration number	1152895

Company registration number	8391033

Principal office and registered	National Army Museum
office	Royal Hospital Road
	London
	SW3 4HT

The trustees

	General Sir John Freegard Deverell
	Mr Bernard Michael De Lerisson Cazenove
	Dr Christopher Melville Edwin Rowland Payne
	Mr William Alexander Wells

Company secretary	Mr Justin Maciejewski DSO MBE

Independent examiner	DAVID BARTLETT, FCA For and on behalf of DALY, HOGGETT & CO.
	5-11 Mortimer Street
	London
	W1T 3HS

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Instrument

The National Army Museum Foundation ("the charity") was incorporated as a company limited by guarantee with a Company Registration number 8391033 on 6th February 2013 and as a charity with the Charity Commission with charity number 1152895 on 16th July 2013.

Trustees

The Trustees of the National Army Museum Foundation ("the charity") comprise the only members of the charity under the Companies Acts. The Trustees of the charity may at any time appoint any person duly qualified to be appointed to fill a vacancy in their number. The number of Trustees is not subject to any maximum. The Trustees of the charity who served during the year and up to the date of signing these accounts are listed above.

Risk management

The Trustees have assessed the current risks to which the charity is exposed and are satisfied that by monitoring reserve levels and considering the potential business risks faced by the charity that they are able to mitigate any potential risks that may arise.

OBJECTIVES AND ACTIVITIES

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

Charitable objectives

The objects of the foundation are the advancement of the education of the public in promoting, supporting and assisting the work of the National Army Museum so far as those objects remain exclusively charitable.

ACHIEVEMENTS AND PERFORMANCE

During the period donations of £4,545 (2021: £6,180) were received.

The Trustees made a donation to the National Army Museum towards research fellowships of £20,000 (2021: £Nil).

In March 2022, the Trustees resolved that the Foundation had achieved its objectives and that the level of expected future income did not merit keeping the Foundation going given the annual costs involved. As a result they resolved that the Foundation be wound up and all of its remaining funds be donated to the National Army Museum (registered charity number 237902). The bank account was closed in July 2022 with a final donation being made to the National Army Museum of £41,757.

RESERVES POLICY

The Trustees' policy was to maintain a level of reserves which would provide a stable base for its continuing activities while at the same time ensuring excessive funds were not accumulated. Following the decision to wind up the Foundation all remaining reserves have been donated to the National Army Museum.

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 30 September 2022 and signed on behalf of the board of trustees by:

Mr William Alexander Wells

Trustee

National Army Museum Foundation

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of National Army Museum Foundation

Period from 1 April 2021 to 31 July 2022

I report to the trustees on my examination of the financial statements of National Army Museum Foundation ('the charity') for the period ended 31 July 2022.

Responsibilities and basis of report

The trustees are also the directors of the company for the purposes of company law are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is appropriate for the charity. I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales (ICAEW). 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:

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 accounts to be reached.

DAVID BARTLETT, FCA For and on behalf of DALY, HOGGETT & CO.

Independent Examiner

5-11 Mortimer Street London W1T 3HS

30 Sep 22

National Army Museum Foundation

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Period from 1 April 2021 to 31 July 2022

	Period from 1 Apr 21 to 31 Jul 22		Year to 31 Mar 21
	Restricted funds	Total funds	Total funds
Note	£	£	£

Income and endowments

Donations and legacies	5	4,545	4,545	6,180
		------	------	------
Total income		4,545	4,545	6,180
		------	------	------

Expenditure

Expenditure on charitable activities	6,7	64,580	64,580	2,548
		-------	-------	------
Total expenditure		64,580	64,580	2,548
		-------	-------	------

	-------	-------	------
Net (expenditure)/income and net movement in funds	( 60,035)	( 60,035)	3,632
	-------	-------	------

Reconciliation of funds

Total funds brought forward	60,035	60,035	56,403
	-------	-------	-------
Total funds carried forward	–	–	60,035
	-------	-------	-------

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

All income and expenditure derive from continuing activities.

National Army Museum Foundation

Company Limited by Guarantee

Statement of Financial Position

31 July 2022

	31 Jul 22		31 Mar 21
Note	£	£	£

Current assets

Cash at bank and in hand	–		67,408

Creditors: amounts falling due within one year	11	–		7,373
		---		-------
Net current liabilities			–	60,035
			---	-------
Total assets less current liabilities			–	60,035
			---	-------
Net liabilities			–	60,035
			---	-------

Funds of the charity

Restricted funds		–	60,035
		---	-------
Total charity funds	12	–	60,035
		---	-------

For the period ending 31 July 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

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

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

These financial statements were approved by the board of trustees and authorised for issue on 30 Sep 22 , and are signed on behalf of the board by:

Mr William Alexander Wells

Trustee

National Army Museum Foundation

Company Limited by Guarantee

Notes to the Financial Statements

Period from 1 April 2021 to 31 July 2022

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is National Army Museum, Royal Hospital Road, London, SW3 4HT.

2. Statement of compliance

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

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Going concern

The Foundation has taken the decision to close and all remaining assets have been donated to the National Army Museum.

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(d) Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and represent restricted income funds.

(e) Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - patron membership is recognised on receipt for individual memberships and over the period of membership for corporate entities. - gift aid is recognised at the time of the applicable donation.

(f) Resources expended

Resources expended are recognised on an accruals basis, inclusive of VAT which cannot be reclaimed.

Governance costs comprise the costs of running the charity, including strategic planning for its future development and all costs of complying with constitutional and statutory requirements, such as the cost of trustee meetings and of preparing the statutory accounts and satisfying public accountability.

4. Limited by guarantee

National Army Museum Foundation was incorporated on 6th February 2013 as a company limited by guarantee.

5. Donations and legacies

Restricted Funds	Total Funds 2022	Restricted Funds	Total Funds 2021
£	£	£	£

Donations

Donations	2,695	2,695	1,380	1,380
Patron Membership	1,850	1,850	4,800	4,800
	------	------	------	------
	4,545	4,545	6,180	6,180
	------	------	------	------

6. Expenditure on charitable activities by fund type

	Restricted Funds	Total Funds 2022	Restricted Funds	Total Funds 2021
	£	£	£	£
Grants payable (see note 9)	61,757	61,757	–	–
Other financial costs	144	144	144	144
Governance costs	2,679	2,679	2,404	2,404
	-------	-------	------	------
	64,580	64,580	2,548	2,548
	-------	-------	------	------

7. Expenditure on charitable activities by activity type

	Grant funding of activities	Total funds 2022	Total fund 2021
	£	£	£
Grants payable (see note 9)	61,757	61,757	–
Other financial costs	144	144	144
Governance costs	2,679	2,679	2,404
	-------	-------	------
	64,580	64,580	2,548
	-------	-------	------

8. Analysis of grants

	Period from
	1 Apr 21 to	Year to
	31 Jul 22	31 Mar 21
	£	£

Grants to institutions

National Army Museum	61,757	–
	-------	---
Total grants	61,757	–
	-------	---

9. Independent examination fees

	Period from
	1 Apr 21 to	Year to
	31 Jul 22	31 Mar 21
	£	£

Fees payable to the independent examiner for:

Independent examination of the financial statements	1,500	1,740
Tax advisory services	270	264
Other financial services	909	400
	------	------
	2,679	2,404
	------	------

10. Trustee remuneration and expenses

The trustees received no remuneration during the period. Expenses of £Nil (2021: £Nil) were reimbursed to the Trustees.

No staff were employed by the Foundation in the current or preceding period.

11. Creditors: amounts falling due within one year

	31 Jul 22	31 Mar 21
	£	£
Accruals and deferred income	–	2,200
Other creditors	–	5,173
	---	------
	–	7,373
	---	------

12. Analysis of charitable funds

Restricted funds

	At 1 April 2021	Income	Expenditure	At 31 July 2022
	£	£	£	£
Restricted Funds	60,035	4,545	(64,580)	–
	-------	------	-------	---

	At 1 April 2020	Income	Expenditure	At 31 March 2021
	£	£	£	£
Restricted Funds	56,403	6,180	(2,548)	60,035
	-------	------	------	-------

13. Analysis of net assets between funds

	Restricted Funds	Total Funds 2022
	£	£
Current assets	–	–
	---	---

	Restricted Funds	Total Funds 2021
	£	£
Current assets	60,035	60,035
	-------	-------

All of the Foundation's assets were regarded as restricted as they had been received to support and donate to the National Army Museum.