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||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|
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||||||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|
##
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##
|||||||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|
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|Long leasehold|50years|
|---|---|
|Exhibition costs|5years|
|Plant and machinery|— 5years|
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|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|
##
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##
||||||||||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)|
##
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|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|
##
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##
|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||
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