##
##
##
||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)|
##
##
##
##
##
##
##
##
##
##