OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

Page
Reference and Administrative
Details
Report ofthe Trustees 2 to 6
Report ofthe Independent
Auditors		 7 to 9
Statement ofFinancial Activities 10
Statement ofFinancial Position
Statement ofCash Flows 12
Notes to the Statement ofCash Flows 13
Notes to the Financial Statements 14 to 27

TRUSTEES C M Pemberton
(appointed 8.10.21)
GSBrowne
D D Kent (resigned 27.1.22)
Dr G Hooper
FEA Baxter
JAmador (appointed 29.1.21)
D Sims (resigned 22.1.21)
LStuart (appointed 19.3.21)
A R Mciver (appointed 3.6.21)
TLReed (appointed 3.6.21)(resigned 18.10.21)
J J Brown (appointed 3.6.21)
P R Bamard (appointed 3.6.21)(resigned 20.10.21)
JA Richardson
(appointed 1.7.21)
REGISTERED OFFICE Suite 4.07, Grosvenor
House
Central Park
Telford
Shropshire
TF2 9TW
REGISTERED COMPANY 3376501 (England and Wales)
NUMBER
REGISTERED CHARITY 1062968
NUMBER
AUDITORS Andorran
Limited (Statutory Auditor)
Chartered
Accountants
6Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
GL51 9TX
BANKERS Barclays Bank Plc
Wolverhampton
SOLICITORS Todmans SRE
Barringtons,
Hockley Rd
Rayleigh, Essex
SS68EH
Devonshires
LLP
30Finsbury
Circus
London, EC2M 7DT
SENIOR MANAGEMENT TEAM H Hamlyn
Site Manager
Page 1

31.12.21 31.12.20
Unrestdicted Restricted Total Total
fund funds funds funds
Notes F F
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 4 196,901 196,901 108,775
Charitable
activities
Operation
ofWaltham Abbey Royal
Gunpowder
Mills		 2,617 2,617 30,643
Miscellaneous
income		 99,785 99,785 102,234
Other trading
activities		 1,609 1,609 1,468
Other income 12,041 104,600 116,641 63,518
Total 312,953 104,600 417,553 306,638
EXPENDITURE ON
Commercial
trading
operation costs		 62,979 62,979 13,015
Charitable
activities
Costs of Operation
ofWaltham		 Abbey Royal
Gunpowder
Mills		 410,560 107,488 518,048 493,860
Total 473,539 107,488 581,027 506,875
NET INCOME/(EXPENDITURE) (160,586) (2,888) (163,474) (200,237)
Transfers
between funds		 22 2,879 (2,879)
Net movement
in funds		 (157,707) (5,767) (163,474) (200,237)
RECONCILIATION
OF FUNDS
Total funds brought forward 4,639,417 23,799 4,663,216 4,863,453
TOTAL FUNDS CARPJED FORWARD 4,481,710 18,032 4,499,742 4,663,216

STATEMENT OF STATEMENT OF STATEMENT OF FINANCIAL POSITION
31 DECEMBER2021
31.12.21 31.12.20
Unrestricted Restricted Total Total
fund funds funds funds
Notes F E
FIXEDASSETS
Tangible assets 17 4,462,065 18,032 4,480,097 4,639,626
CURRENT ASSETS
Stocks 18 4514 4,514 6,074
Debtors 19 29,937 29,937 46,227
Cash at bank and in hand 35,189 35,189 26,908
69,640 69,640 79,209
CREDITORS
Amounts
falling due within one year		 20 (49,995) (49,995) (55,619)
NET CURRENT ASSETS 19,645 19,645 23,590
TOTAL ASSETS LESSCURRENT
LIABILITIES 4,481,710 18,032 4,499,742 4,663,216
NET ASSETS 4,481,710 18,032 4,499,742 4,663,216
FUNDS 22
Unrestricted
funds		 4,481,710 4,639,417
Restricted funds 18,032 23,799
TOTAL FUNDS 4,499,742 4,663,216

FOR TH E YEAR ENDED 3 1DECEMBER2021
31.12.21 31.12.20
Notes
Cash flows from operating activities
Cash generated
from operations		 1 13,281 (51,363)
Net cash provided
by/(used		 in) operating activities 13,281 (51,363)
Cash flows from investing activities
Purchase oftangible fixed assets (5,000)
Sale oftangible fixed assets 750
Net cash (used in)/provided by investing activities (5,000) 750
Change
in cash and cash		 equivalents
in the reporting
period		 8,281 (50,613)
Cash and cash equivalents atthe
beginning
ofthe reporting		 period 26,908 77,521
Cash and cash equivalents atthe end
ofthe reporting
period		 35,189 26,908

31.12.21 31.12.20
F
Net expenditure
for the reporting		 period (as per the Statement
ofFinancial Activities) (163,474) (200,237)
Adjustments for:
Depreciation charges 164,529 166,889
Profit on disposal of fixed assets (750)
Decrease in stocks 1,560 956
Decrease in debtors 16,290 13,366
Decrease in creditors (5,624) (31,587)
Net cash provided by/(used in) operations 13,281 (51,363)

ANALYSIS OF CHANGES
IN NET FUNDS
At 1.1.21 Cash flow At31.12.21
Net cash
Cash at bank and in hand 26,908 8,281 35,189
26,908 8,281 35,189
Total 26,908 8,281 35,189

Long leasehold 50years
Exhibition costs 5years
Plant and machinery — 5years

DONATIO NS
AND		 LEGACI ES
31.12.21 31.12.20
Donations 4,299 4,175
Grants from Waltham Abbey Royal Gunpowder Mills Charitable
Foundation 192,602 104,600
196,901 108,775
OTHER TRADING ACTIVITIES
31.12.21 31.12.20
F F
Commercial
trading		 operations 1,609 1,468
INCOME FROM CHARITABLE ACTIVITIES
31.12.21 31.12.20
Activity F
Operation of Waltham Abbey Royal
Admission fees Gunpowder Mills 2,617 30,643
Room rental etc Miscellaneous income 99,785 102,234
102,402 132,877
Included above under the Activity 'Miscellaneous income' is the
following: 31.12.21 31.12.20
F
Filming Rights 47,313 49,860
Room Rental income (other) 47,569 49,106
Functions 1,583 3,268
Corporate hospitality etc 3,320
99,785 102,234

31.12.21 31.12.20
F E
Gain on sale oftangible fixed assets 750
Government grants 116,641 62,768
116,641 63,518
An analysis ofGovernment grants is provided below:
31.12.21 31.12.20
E
Cultural
Recovery		 Fund —Heritage Lottery 104,600
Coronavirus Job Retention Scheme 12,041 37,768
Coronavirus Hospitality for Business Rates 25,000
116,641 62,768
8. COMMERCIAL TRADING OPERATION COSTS
Commercial trading operation costs
31.12.21 31.12.20
Staff costs 32,785 7,410
Insurance 6,597 586
Retail supplies 1,905 1,395
Estate and establishment costs 21,692 3,624
62,979 13,015
9. CHAPJTABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 10) note 11) Totals
F F
Costs ofOperation ofWaltham
Abbey Royal Gunpowder Mills 450,364 67,684 518,048

31.12.21 31.12.20
F
Staffcosts 98,764 172,272
Insurance 19,883 14,064
Marketing 383 7,735
Estate costs 65,327 83,606
Special Projects —Scheduled Monument Management Plan I (2,743)
Special Projects - Project repairs 9,360
Special Projects - HLF 101,478 2,986
Depreciation 164,529 166,889
450,364 454,169
SUPPORT COSTS
Heritage Governance
Retail site costs Totals
F
Costs of Operation ofWaltham Abbey
Royal Gunpowder Mills 4,211 57,314 6,159 67,684
Support costs, included in the above, are as follows:
Retail
31.12.21 31.12.20
Costs of
Operation
of
Waltham
Abbey
Royal
Gunpowder Total
Mills activities
F
Accountancy fees 2,972 557
General office 1,239 177
4,211 734
Heritage site
31.12.21 31.12.20
Costs of
Operation
of
Waltham
Abbey
Royal
Gunpowder Total
Mills activities
F
Accountancy fees 8,957 12,834
Legal and professional fees 44,623 13,713
Gamed forward 53,580 26,547

31.12.21 31.12.20
Costs of
Operation
of
Waltham
Abbey
Royal
Gunpowder Total
Mills activities
F
Brought forward 53,580 26,547
General office 3,734 4,091
57,314 30,638
Governance costs
31.12.21 31.12.20
Costs of
Operation
of
Waltham
Abbey
Royal
Gunpowder Total
Mills activities
Auditors' remuneration 4,700 6,860
Accountancy fees 1,459 1,459
6,159 8,319
31.12.21 31.12.20
F
Auditors' remuneration 4,700 6,860
Depreciation —owned assets 164,529 166,889
Surplus on disposal offixed assets (750)

STAFF COSTS
2021 2020
f
Wages and salaries 126,272 169,607
Social security costs 2,719 7,391
Other pension costs 2,558 2,684
131,549 179,682

FOR THE YEAR ENDED 31DEC FOR THE YEAR ENDED 31DEC FOR THE YEAR ENDED 31DEC FOR THE YEAR ENDED 31DEC EMBER2021
15. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
F F
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 108,775 108,775
Charitable
activities
Operation
ofWaltham Abbey Royal
Gunpowder
Mills		 30,643 30,643
Miscellaneous
income		 102,234 102,234
Other trading
activities		 1,468 1,468
Other income 63,518 63,518
Total 306,638 306,638
EXPENDITURE ON
Commercial
trading
operation		 costs 13,015 13,015
Charitable
activities
Costs of Operation ofWaltham Abbey
Royal Gunpowder
Mills		 478,247 15,613 493,860
Total 491,262 15,613 506,875
NET INCOME/(EXPENDITURE) (184,624) (15,613) (200,237)
Transfers
between funds		 (9,360) 9,360
Net movement
in funds		 (193,984) (6,253) (200,237)
RECONCILIATION
OF FUNDS
Total funds brought forward 4,833,401 30,052 4,863,453
TOTAL FUNDS CARRIED FORWARD 4,639,417 23,799 4,663,216
16. STATEMENT OF CHANGES IN RESOURCES APPLIED FOR FIXEDASSETS FOR COMPANY
USE
2021 2020
Net movement
in funds forthe		 year (163,474) (200,237)
Resources used for net acquisitions oftangible fixed
assets 5,000 (4,000)
Net movement
in funds available for		 future activities (168,474) (196,237)

Long Exhibition Plant and
leasehold costs machinery Totals
E F
COST
At 1 January 2021 7,606,948 1,014,236 415,484 9,036,668
Additions 5,000 5,000
At 31 December 2021 7,606,948 1,014,236 420,484 9,041,668
DEPRECIATION
At 1 January 2021 3,004,334 1,013,560 379,148 4,397,042
Charge for year 152,139 676 11,714 164,529
At 31 December 2021 3,156,473 1,014,236 390,862 4,561,571
NET BOOKVALUE
At 31 December 2021 4,450,475 29,622 4,480,097
At 31 December 2020 4,602,614 676 36,336 4,639,626
18. STOCKS
31.12.21 31.12.20
E
Finished goods 4,514 6,074
19. DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
E
Trade debtors 4,243 5,376
Other debtors 8,200
VAT 5,809
Prepayments and accrued income 25,694 26,842
29,937 46,227

CREDITORS: AIIOUNTS FALLING DUE WITHIN ON E YEAR
31.12.21 31.12.20
Trade creditors 25,060 27,608
Social security and other taxes 2,317 2,569
VAT 3,427
Other creditors 9,677
Accrued expenses 6,701 20,796
Deferred income 2,813 4,646
49,995 55,619

Minimum
lease payments
under non-cancellable
ope		 rating
leases fall due as follows:
31.12.21 31.12.20
Within one year 2,400 2,400
Between one and five years 5,400 7,200
In more than five years 600
7,800 10,200

MOVEM EN T
IN FUN		 DS
Net Transfers
movement between At
At 1.1.21 in funds funds 31.12.21
F
Unrestricted
funds
General fund 4,639,417 (160,586) 2,879 4,481,710
Restricted funds
Scheduled Monument Management
Plan
II		 2,743 (2,743)
Fire Alarm Upgrades 24,042 (6,010) 18,032
Heritage Lottery Fund (2,986) 3,122 (136)
23,799 (2,888) (2,879) 18,032
TOTAL FUNDS 4,663,216 (163,474) 4,499,742

Net movement
 in fund s,
includ		 ed
in the ab		 ove are as follow s:
Incoming Resources Movement
resources expended in funds
Unrestricted
funds
General fund 312,953 (473,539) (160,586)
Restricted funds
Fire Alarm Upgrades (6,010) (6,010)
Heritage Lottery Fund 104,600 (101,478) 3,122
104,600 (107,488) (2,888)
TOTAL FUNDS 417,553 (581,027) (163,474)
Comparatives for movement in funds
Net Transfers
movement between At
At 1.1.20 in funds funds 31.12.20
F F
Unrestricted
funds
General fund 4,833,401 (184,624) (9,360) 4,639,417
Restricted funds
Scheduled
Monument		 Management
Plan
I		 2,743 (2,743)
Scheduled
Monument		 Management
Plan
II		 2,743 2,743
Project Repairs (9,360) 9,360
Fire Alarm Upgrades 30,052 (6,010) 24,042
Heritage Lottery Fund (2,986) (2,986)
30,052 (15,613) 9,360 23,799
TOTAL FUNDS 4,863,453 (200,237) 4,663,216