THE HOVERCRAFT MUSEUM CIO
The Hovercraft Museum Trust is the worlds only hovercraft museum and through its iconic exhibits tells the ongoing story of the hovercraft in a way that inspires, educates, and provides enjoyment to the public and society in general at its home on a transport heritage site in Lee on the Solent, Hampshire.
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net expenditure deficit of £6,532 for the year ended 31 December 2024, with total income of £61,330 and total expenditure of £67,862. The trustees note that reserves remain sufficient to absorb unforeseen expenses and that the underlying business model is currently sustainable, although they recognize the need to generate a larger surplus to achieve long-term aims. The charity's policy is to hold sufficient reserves to enable it to withstand a financial setback or take advantage of an opportunity.
What the accounts disclose
“The charity will keep sufficient reserves to cover six months operations.” — page 12
Trustees
- Louise Mary Jenkinschair
- Alexander William Wheeler
- David Alexander Kerr
- George Holloway
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £61k | £68k |
| 31/12/2023 | £63k | £0 |
| 30/06/2023 | £0 | £0 |
Common questions
Is THE HOVERCRAFT MUSEUM CIO financially healthy?
Per its FY2024 accounts: The accounts state that the charity reported a net expenditure deficit of £6,532 for the year ended 31 December 2024, with total income of £61,330 and total expenditure of £67,862. The trustees note that reserves remain sufficient to absorb unforeseen expenses and that the underlying business model is currently sustainable, although they recognize the need to generate a larger surplus to achieve long-term aims. The charity's policy is to hold sufficient reserves to enable it to withstand a financial setback or take advantage of an opportunity. Its FY2024 accounts were independently examined.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 02/04/2025 | £116k | "First steps in securing the future of the Hovercraft Museum" |