||||Page|Page| |---|---|---|---|---| |Report ofthe Trustees||1|to|9| |Report ofthe independent
Auditors||10|io|13| |Statement ofFinancial|Activities||14|| |Balance Sheet|||15|| |Notes tothe Financial|Statements|16|to|28| |Detailed Statement of|Financial Activities|29|to|31| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||2022|2021| |---|---|---|---|---|---|---| ||||Unrestricted|Restricted|Total|Total| ||||funds|funds|funds|funds| |INCOME AND ENDOWMENTS|FROllll|Notes||5|5|F| |Donations
and legacies||3|57,683||114,227|495,672| |Charitable acSvities||6||||| |Maintenance
ofthe Wellington
Education|||20,920
336||20,920
336|45| |Other trading
activities
Investment
income|||4,139||242
4,139|56,193
4,654| |Total||||||557764| |EXPENDITURE ON||||||| |Raising funds||7|9,632||9,632|6,804| |Charitable activities||||||| |Maintenance
ofthe Wellington
Education|||166,878
~34443|18,041
~27315|'l84,919
~61758|277,017
~90077| |Total|||210953|||373896| |Net gains on investments|||~14?1||~1471|61742| |NET INCOMEI(EXPENDITURE)|||(126,162)|11,188|(114,974)|245,606| |RECONCIUATION
OF FUNDS||||||| |Total funds brought forward|||903,838|25,042|828,880|| |TOTAL FUNDS CARRIED FORWARD|||~7TT 776|36230|814,006|928980| ## ||||202'I| |---|---|---|---| |FIXEDASSETS|||5| |Tangible assets
Investments|15
16|574,'!58
227,760|575,575
271 189| |||801,918|846,735| |CURRENT ASSETS|||| |Stocks
Debtors
Cash at bank|17
18|4,246
97,133
22 788|163,523
8742| |||125,168|1?3,265| |CREDITORS|||| |Amounts
falling due within one year|19|(113,080)|(91,020)| |NET CURRENT ASSETS||12ON|82245| |TOTAL ASSETSLESSCURRENT|||| |LIABILITIES||8147006|928,980| |NET ASSETS||514288|928 MO| |FUNDS|||| |Unrestricted
funds
Restricted
funds||?77,776
28,2M|903,938
25942| |TOTAL FUNDS||~87
828|828.989| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||Grants receiv|ed,
included|in the above, are as follows:||| |---|---|---|---|---|---| |||||2022|2021| |||||E|5| ||Coronsvirus|Job Retention Scheme|||14,569| ||National
Lottery Heritage||Fund|41,084|219,595| ||The Portal Trust||||10,000| ||1851Commission|||15,460|| ||Westminster|Councii||~13581|| |||||~70 125|244,164| |4.|OTHER TRADING ACTIVITIES||||| ||||||2021| ||||||6| ||Rents receivable||||53,879| ||Sundry rental|and other income|||2,326| ||Functions||||(12)| ||Merchandise|||242|| |||||242|~56 193| |5.|INVESTINENT
INCONIE||||| |||||2022|2021| |||||5|| ||Dividends|||4,127|4,837| ||Deposit account interest|||12|17| |||||4,13$|~4854| ## ||Activity||2022f|2021| |---|---|---|---|---| |Ship tours
Costs reimbursed
Heritage Evenings|Maintenance
Maintenance
Education|ofthe Wellington
ofthe Wellington|125
20,795
336|| ||||~21 266|| ## |RAISING FUNDS|||||| |---|---|---|---|---|---| |Raising donations|and|legacies|||| |Fundraiser
Friends' expenses
Promotional
design,|printing||snd postage|2022f
3,60'7
638
~4173|2021f
1,700
475| |||||~8418|2 175| |Other trading activigss|||||| |Purchases
Closing stock
Bad debts||||2022f
5,285
(4,248)|2021
f
4557| |||||~1048|~4557| |Investment
management||costs|||| |Portfolio management|||||2021f
72| |Aggregate
amounts||||~8632|| ## ## ||Direct
Costs (ses
note 9)|Grant
funding of
activities|Support
costs (see
note 10)|Totals| |---|---|---|---|---| |Maintenance
ofthe Wellington
Education|93,142
~81 758|2
301|6
91,4T6|6
184,919
61,T58| ||164,800||91,478|246,677| |DIRECT COSTSOFCHARITABLE|ACTIVITIES|||| ||||2022|2021| |Staff costs||||6| |Repairs and maintenance
Mooring fees
Rates
Insurance
Website
Utilities
Exhibitions|||35,359
9,682
14,991
7,511
1,542|27.019
87,200
5,0S8
2,419
12,125
8,220
9,831| |Augmented
reality project
Education expenses
Heritage Evenings
Admissions
Depreciation
Loss on sale ofassets|||14,144
28,037
'l6,82T
2,750
134
23,923|11,360
75,200
3,517
13,544| |||||20,694| |||||278,197| |SUPPORT COSTS||||| ||||Governance|| |Maintenance
ofthe Wellington||Management
f
85,476|costs
2
~6000|Totals
81476| ## ## ## ## |||2022|2021| |---|---|---|---| |||Maintenance|| |||ofthe|Total| |||Wellington|activities| |Wages
Social security
Pensions||6
35,000
940|6
S,OSO
1,003| |Consultant
manager
Accounting
Database
Marketing
Bank and payment charges
Sundry expenses
ITand solbvare costs
Legal fees
Professional fees
Auditors'
remuneration||500
5,431
7,901
23,640
605
7398
2,971
880
~8000|26,884
3,444
14,198
10,023
1,192
3.004
3,148
2,180
11,361
~5400| |||~91 476|~80 897| |NET INCOINEI(EXPENDITURE)|||| |Net incomel(expenditure)|is stated after charging/(crediting):||| |||2022|2021| |Auditors'
remuneration
Depreciation
-awned assets
De6cit on disposal ofOxed assets||6
6,000
23,823|6
5,400
'i3,544
20,694| |NET INCOINEI(EXPENDITURE)| |---| |Net incomel(expenditure)
is stated after charging/(crediting):| |Auditors'
remuneration| |Depreciation
-awned assets| |De6cit on disposal ofOxed assets| ## ## ## ## |13.|STAFF COSTS||||| |---|---|---|---|---|---| |||||2022|2021| ||Wages and salaries
Social security costs
Other pension costs|||8
35,000
940|6
33,640
3,288
144| ||||||37072| ||The average
monthly
number ofemployees||during the year was as folkws:||| ||Shipkeepers
and maintenance
Administration||||2021
1
2| ||No employees
received emoluments|in excess of860,000.|||| |14.|COMPARATIVES FORTHE STATEMENT||OF FINANCIAL ACTIVITIES||| ||||Unrestricted|Restricted|Total| ||||funds|funds|funds| ||INCOME AND ENDOWMENTS FROM||6|6|8| ||Donations
and legacies||267,077|229,595|496,672| ||Charitable
activiNes||||| ||Education||||| ||Other trading activities
Investment
income||56,193
4854||56,193
~4854| ||Total||~328 169|229595|557,764| ||EXPENDITURE ON||||| ||Raising funds||6,804||6,804| ||Charitable
activities||||| ||Maintenance
ofthe Wellington
Education||149,551|127,466
90,077|277,017
9O',O77| ||Total||156,355|~217 543|373898| ||Net gains on investments||61 742||61742| ||NET INCOME
Transfem
between funds||233,556
8,450|12,052
(8,450)|245,608| |14.|COMPARATIVES|FORTHE STATEMENT OF FINANCIAL ACTIVITIES-|FORTHE STATEMENT OF FINANCIAL ACTIVITIES-|continued|| |---|---|---|---|---|---| ||||Unrestricted|Restricted|Total| ||||funds|funds|funds| |||||6|F| ||Net movement
in funds||242,006|3,602|245,608| ||RECONCIUATION|OF FUNDS|||| ||Total funds brought|forward|661,932|21,440|683,372| ||TOTAL FUNDS CARRIED FORWARD||~903938|25,042|928980| |15.|TANGIBLE FIXED|ASSETS|||| ||||improvements||| ||||to HQS|HQS|| ||||Wellington|Wellington|Totals| ||COST||5||6| ||At 1 April 2021
Additions||244,652
~22606||849,346
22506| ||At 31 March 2022||267,158||871,852| ||DEPRECIATION||||| ||At 1Apdl 2021
Charge for year||54,987
~8487|218,784
~18436|273,771
~23923| ||At 31 March 2022||~63 474||~297694| ||NET BOOK VALUE||||| ||At 31 March 2022||~203684|~370474|574,158| ||At 31 March 2021||~189665|385,910|575,575| ## |FIXEDA|SSET INVESTMENTS|| |---|---|---| |||Listed| |||investments| |||E| |MARKET|VALUE|| |At 1 April|2021|271,160| |Additions||27,645| |Disposals
Unrealised
Movement|gains/(losses)
in cash|(74,816)
3,277
494| |At 31 March 2022||~227 780| |NET BOOKVALUE||| |At 31 March 2022||227,760| |At 31 March 2021||271 160| |17.|STOCKS||||| |---|---|---|---|---|---| |||||2022|2021| |||||E|E| ||Finished goods|||4246|| |18.|DEBTORS:AMOUNTS||FALLING DUE WITHIN ONE YEAR||| |||||2022|2021| |||||E|| ||Trade debtors
Other debtors|||68,262
257|2,674
38,881| ||VAT|||15,955|47,042| ||Prepayments|and accrued income||~14658|~74926| |||||~87 133|~183 523| ## ## |19.|CREDITORS: AISOUNT|S FALLING DUE WITHIN ONE YE|AR||| |---|---|---|---|---|---| |||||2022|2021| ||Trade creditors
Social security and other|taxes||8
88,154
628|64,500| ||Other creditors
Accruals and deferred income
Accrued expenses|||346
3,858
~9094|173
~6347| |||||~113080|$1020| |20.|ANALYSIS OF NET ASSETSBE)WEEN FUNDS||||| |||||2022|2021| |||Unrestricted|Restricted|Total|Total| |||funds|funds|funds|funds| |||6|F|6|| ||Fixed assets
investmenls
Current assets
Current
lisbiiities|574,158
227,760
88438
~113080)|36,230|574,158
227,760
125,168
(113,080)|575,575
271,160
173,265
~91,020)| |||~777776|~36230|~814006|~928 950| |21.|INOVEISENT IN FUNDS||||| |||||Net|| |||||movement|At| ||||At 1.4.21
5|in funds
2|31.3,22| ||Unrestricted
funds||||| ||General
fund
Ship Removal
Fund||&53,938
~50000|(126,162)|727,776
50,000| ||Restricted funds||903,838|(126,162)|777,776| ||National
Lottery Heritage
Portal Trust
Portal Trust 2020I21
1851Commission|Fund|5,569
9,473
10,000|14,795
(8,776)
(10,000)
~1518$|20,354
6$7
15,169| ||||25,042|11,188|| ||TOTAL FUNDS||~928980|~114$74)|~81
006| ## |Net movement
in funds,|included
in the|above are as follows|:||| |---|---|---|---|---|---| |||Incoming|Resources|Gains and|Movement| |||resources|expended|losses|in funds| |Unrestricted
funds|||6|6|6| |General
fund||83,320|(210,953)|1,471|(126,162)| |Restricted funds|||||| |National
Lottery Heritage
Portal Trust
Portal Trust 2020/21
1851Commission|Fund|41,084|(26,288)
(8,776)
(10,000)
~291)||14,795
(8,776)
(10,000)
~1169| ||||||~11186| |TOTALFUNDS||~138 864|~258308)|~1471|~114874)| ## ||||Net|Transfers|| |---|---|---|---|---|---| ||||movement|between|At| |||At 'I.4.20|in funds|funds|31.3.21| |Unrestricted
funds||||6|F| |General fund
Ship Removal Fund||661,932|233,556|(41,550)
~50000|853,938
50000| |Restricted funds||661,932|233,556|8,450|903,938| |National
Lottery Heritage
Fund
Portal Trust
Replacement
Moonngs Project
Portal Trust 2020/21||12,990
8,450|5,569
(3,517)
~10000|(8,450)|5,569
9,473
10,000| |||~21440|12052|~6450|25,042| |TOTALFUNDS||~663 372|245608||~928980| ## |Comparative
net moveme|nt
in funds, i|ncluded
in the above|am as follows:||| |---|---|---|---|---|---| |||Incoming|Resources|Gains and|Movement| |Unrestricted
funds||resources
6|expended
6|losses
5|in funds
5| |General
fund||328,169|('l56,355)|61,742|233,556| |Restricted funds|||||| |National
Lottery Heritage
Portal Trust
Portal Trust 2020/21|Fund|219,595
10000|(214,026)
(3,517)||5,569
(3,517)
10000| |||229595|217543||12,052| |TOTAL FUNDS||557764|~373898)|61 742|245,608| ## ## ## ##