2022-12-31-accounts - The Waltham Abbey Royal Gunpowder Mills Company Limited

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	Page	Page
Reference and Administrative Details
Report ofthe Trustees	2	to	6
Report ofthe Independent Auditors	7	lo	9
Statement of Financial Activities		10
Statement ofFinancial Position
Notes to the Financial Statements	12	to	24

TRUSTEES		C M Pemberton
		GS Browne
		D D Kent (resigned	27.1.22)
		Dr G Hooper
		F E A Baxter
		J Amador
		L Stuart
		A R Mciver
		J J Brown (resigned	9.5.23)
		J A Richardson
		R Lawes (appointed	29.3.23)
		P D Egan (appointed		27.2.23)
REGISTERED OFFICE		Column House
		London Road
		Shrewsbury
		Shropshire
		SY2 6NN
REGISTERED COMPANY		3376501 (England	and Wales)
NUMBER
REGISTERED CHARITY		1062968
NUMBER
AUDITORS		Andorran Limited (Statutory				Auditor)
		Chartered Accountants
		6 Manor Park Business			Centre
		Mackenzie Way
		Cheltenham
		Gloucestershire
		GL51 9TX
BANKERS		Barclays Bank Pic
		Wolverhampton
SOLICITORS		Todmans SRE
		Barringtons, Hockley Rd
		Rayleigh, Essex, SS6BEH
		Devonshires LLP
		30 Finsbury Circus
		London, EC2M 7DT
SENIOR MANAGEMENT	TEAM	A Macdonald (appointed			1.7.23)
		Chief Executive
		H Hamlyn (resigned	12.7.23)
		Site Manager

						31.12.22	31.12.21
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
			Notes	E	F	6	F
INCOME AND ENDOWMENTS		FROM
Donations and legacies			4	208,045	10,000	218,045	196,901
Charitable activities
Operation ofWaltham	Abbey Royal
Gunpowder Mills				37,787		37,787	2,617
Miscellaneous income				227,646		227,646	99,785
Other trading activities			5	5,512		5,512	1,609
Other income			7				116,641
Total				478,990	10,000	488,990	417,553
EXPENDITURE ON
Commercial trading operation costs			8	55,911		55,911	62,979
Charitable activities			9
Costs of Operation ofWaltham		Abbey Royal
Gunpowder Mills				590,617	6,010	596,627	518,048
Total				646,528	6,010	652,538	581,027
NET INCOME/(EXPENDITURE)				(167,538)	3,990	(163,548)	(163,474)
RECONCILIATION OF FUNDS
Total funds brought forward				4,481,710	18,032	4,499,742	4,663,216
TOTAL FUNDS CARRIED FORWARD				4,314,172	22,022	4,336,194	4,499,742

				31.12.22	31.12.21
		Unrestricted	Restricted	Total	Total
	Notes	funds 6	funds f	funds f	fundsf
FIXEDASSETS
Tangible assets	17	4,303,920	12,022	4,315,942	4,480,097
CURRENT ASSETS
Stocks	18	5,394		5,394	4,514
Debtors	19	53,111		53,111	29,937
Cash at bank and in hand		33,449	10,000	43,449	35,189
		91,954	10,000	101,954	69,640
CREDITORS
Amounts falling due within one year	20	(81,702)		(81,702)	(49,995)
NET CURRENT ASSETS		10,252	10,000	20,252	19,645
TOTAL ASSETSLESSCURRENT
LIABILITIES		4,314,172	22,022	4,336,194	4,499,742
NET ASSETS		4,314,172	22,022	4,336,194	4,499,742
FUNDS	22
Unrestricted funds				4,314,172	4,481,710
Restricted funds				22,022	18,032
TOTAL FUNDS				4,336,194	4,499,742

DONATIONS	AND	L	EGACIES
					31.12.22	31.12.21
					8
Donations					15,407	4,299
Grants from	Waltham		Abbey Royal Gunpowder	Mills Charitable
Foundation					202,638	192,602
					218,045	196,901
OTHER TRADING		ACTIVITIES
					31.12.22	31.12.21
						8
Commercial	trading	operations			5,512	1,609

	INCOME F		ROM	CH	ARIT	AB	LE A	CTIV	ITIE	S
															31.12.22	31.12.21
							Activity								F	F
							Operation		ofWaltham				Abbey	Royal
	Admission		fees				Gunpowder		Mills						33,787	2,617
							Operation		ofWaltham				Abbey	Royal
	Grants						Gunpowder		Mills						4,000
	Filming Rights etc						Miscellaneous			income					227,646	99,785
															265,433	102,402
	Included above under the					Activity		'Miscellaneous				income'		is the
	following:														31.12.22	31.12.21
															6	6
	Filming Rights														141,791	47,313
	Room Rental income				(other)										50,656	47,569
	Business Continuity				Insurance claim										32,025
	Functions														2,448	1,583
	Corporate	hospitality			etc										726	3,320
															227,646	99,785
	Grants received,			included		in	the above,		are as		follows:
															31.12.22	31.12.21
																F
	Epping Forest District Council														4,000
7.	OTHER INCOME
															31.12.22	31.12.21
																6
	Government		grants													116,641
	An analysis		of Government			grants		is provided			below:
															31.12.22	31.12.21
															E
	Cultural Recovery			Fund -		Heritage		Lottery								104,600
	Coronavirus		Job	Retention		Scheme										12,041
																116,641

COMMERCIA	L TRADING OPE	L TRADING OPE	L TRADING OPE	RATION COSTS
Commercial	trading operation			costs			31.12.22 E	31.12.21 f
Staff costs							24,236	32,785
Insurance							3,973	6,597
Retail supplies							2,301	1,905
Estate and establishment			costs				25,401	21,692
							55,911	62,979
CHARITABLE ACTIVITIES COSTS
						Direct	Support
						Costs (see	costs (see
						note 10) 8	note 11) f	Totals 8
Costs of Operation		ofWaitham
Abbey Royal Gunpowder			Mills			528,188	68,439	596,627
DIRECT COSTS OF CHARITABLE ACTIVITIES
							31.12.22	31.12.21
							E	6
Staff costs							160,418	98,764
Insurance							26,298	19,883
Marketing							9,148	383
Estate costs							168,169	65,327
Special Projects -		HLF						101,478
Depreciation							164,155	164,529
							528,188	450,364
SUPPORT COSTS
						Heritage	Governance
					Retail f	site 6	costs E	Totals
Costs of Operation		ofWaltham		Abbey
Royal Gunpowder		Mills			2,796	59,016	6,627	68,439

Retail
				31.12.22	31.12.21
				Costs of
				Operation
				of
				Waltham
				Abbey
				Royal
				Gunpowder	Total
				Mills	activities
				f	6
Accountancy		fees		1,636	2,972
General oftice				1,160	1,239
				2,796	4,211
Heritage	site
				31.12.22	31.12.21
				Costs of
				Operation
				of
				Waltham
				Abbey
				Royal
				Gunpowder	Total
				Mills	activities
				F	F
Accountancy		fees		10,828	8,957
Legal and professional			fees	40,508	44,623
General	office			7,680	3,734
				59,016	57,314
Governance		costs
				31.12.22	31.12.21
				Costs of
				Operation
				of
				Waltham
				Abbey
				Royal
				Gunpowder	Total
				Mills	activities
				6
Auditors'	remuneration			5,168	4,700
Accountancy		fees		1,459	1,459
				6,627	6,159

15.	COMPARATIVES FOR THE STATEMENT OF	COMPARATIVES FOR THE STATEMENT OF	COMPARATIVES FOR THE STATEMENT OF	COMPARATIVES FOR THE STATEMENT OF	FINANCIAL	AC'TIVITIES
						Unrestricted	Restricted	Total
						fund 6	funds E	fundsf
	INCOME AND ENDOWMENTS		FROM
	Donations and legacies					196,901		196,901
	Charitable activities
	Operation ofWaltham Abbey Royal Gunpowder Mills Miscellaneous income					2,617 99,785		2,617 99,785
	Other trading activities					1,609		1,609
	Other income					12,041	104,600	116,641
	Total					312,953	104,600	417,553
	EXPENDITURE ON
	Commercial trading operation	costs				62,979		62,979
	Charitable activities
	Costs of Operation ofWaltham	Abbey
	Royal Gunpowder Mills					410,560	107,488	518,048
	Total					473,539	107,488	581,027
	NET INCOME/(EXPENDITURE)					(160,586)	(2,888)	(163,474)
	Transfers between funds					2,879	(2,879)
	Net movement in funds					(157,707)	(5,767)	(163,474)
	RECONCILIATION OF FUNDS
	Total funds brought forward					4,639,417	23,799	4,663,216
	TOTAL FUNDS CARRIED FORWARD					4,481,710	18,032	4,499,742
16.	STATEMENT OF CHANGES	IN	RESOURCES		APPLIED	FOR FIXEDASSETS FOR COMPANY
	USE
							2022	2021
							6	F
	Net movement in funds for the	year					(163,548)	(163,474)
	Resources used for net acquisitions			of tangible	fixed
	assets							5,000
	Net movement in funds available		for	future activities			(163,548)	(168,474)

	NOTES TO THE FINANCIAL STATE FOR THE YEAR ENDED 31 DE	NOTES TO THE FINANCIAL STATE FOR THE YEAR ENDED 31 DE	MENTS -continu CEMBER 2022	ed
17.	TANGIBLE FIXEDASSETS
		Long	Exhibition	Plant and
		leasehold f	costs	machinery	Totals f
	COST
	At 1 January 2022 and 31 December 2022	7,606,948	1,014,236	420,484	9,041,668
	DEPRECIATION
	At 1 January 2022 Charge for year	3,156,473 152,139	1,014,236	390,862 12,016	4,561,571 164,155
	At 31 December 2022	3,308,612	1,014,236	402,878	4,725,726
	NET BOOK VALUE
	At 31 December 2022	4,298,336		17,606	4,315,942
	At 31 December 2021	4,450,475		29,622	4,480,097
18.	STOCKS
				31.12.22	31.12.21
				6	F
	Finished goods			5,394	4,514
19.	DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
				31.12.22	31.12.21
					E
	Trade debtors			8,336	4,243
	Other debtors			10,000
	VAT			8,488
	Prepayments and accrued income			26,287	25,694
				53,111	29,937
20.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE		YEAR
				31.12.22	31.12.21
	Trade creditors			53,955	25,060
	Social security and other	taxes		3,839	2,317
	VAT				3,427
	Other creditors			11,221	9,677
	Accrued expenses Deferred income			5,400 7,287	6,701 2,813
				81,702	49,995

Minimum lease payments	under	non-cancellable operating leases fall due	as follows:
			31.12.22	31.12.21 f
Within one year Between one and five years			2,450 3,050	2,400 5,400
			5,500	7,800
MOVEMENT IN FUNDS
			Net
			movement	At
		At 1.1,22	in funds	31.12.22
		F	F	6
Unrestricted funds
General fund		4,481,710	(167,538)	4,314,172
Restricted funds
Fire Alarm Upgrades WARGM Friends Association		18,032	(6,010) 10,000	12,022 10,000
		18,032	3,990	22,022
TOTAL FUNDS		4,499,742	(163,548)	4,336,194
Net movement in funds,	included	in the above are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		8	8	F
Unrestricted funds
General fund		478,990	(646,528)	(167,538)
Restricted funds
Fire Alarm Upgrades WARGM Friends Association		10,000	(6,010)	(6,010) 10,000
		10,000	(6,010)	3,990
TOTAL FUNDS		488,990	(652,538)	(163,548)

Compar	atlves for mo	veme	nt In fun	ds
						Net	Transfers
						movement	between	At
					At 1.1.21	in funds	funds	31.12.21
					6	F	E	6
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
Comparative net movement			in funds,	included	in the above	are as follows:
						Incoming	Resources	Movement
						resources	expended	in funds
						6		6
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)