| Pages | |
|---|---|
| Trustees'Report | 3-13 |
| StatementofTrustees'Responsibiiities | 14 |
| lndependentExaminers'Report | 15 |
| Consolidated StatementofFinancialActivities | 16 |
| ConsolidatedBalanceSheet | 17 |
| Charity Balance Sheet | 18 |
| Consolidated StatementofCashFlows | 19 |
| Notesto the ConsolidatedFinancialStatements | 20-32 |
| aterdetail,the Charity's aforementioned unrestr earbya numberofgrants,namely: |
ictedcharitable |
|---|---|
| Source | Amount |
| GarfieldWestonFoundation | 20,000 |
| SHAREMuseumsEastdevelopmentday | 601 |
| Total | rza,601 |
| Name | Board | Corporate | Curatorial | Estate | Financeand | Fundraisin |
|---|---|---|---|---|---|---|
| (7meetings) | Governance | Committee | Management | General | l¡ | |
| Committee | (3 meetings) | and | Purposes | Committe | ||
| (3meetings) | Buildings | Committee | e | |||
| Comm¡ttee | (5meetings) | (2 | ||||
| (5meetinqs) | meetinos) | |||||
| BCDickens(1) | 7(chair) | 3(Chair) | 5 (Chair) | |||
| JFAldridge | 6 | 2 | 3 (cha¡0 | 2 | ||
| PAJohnson | R | J | ||||
| MEPlatt | 4 | 2 (Chai0 | ||||
| HMStuchfield(2) | 1 | 1 | 1 | |||
| SJThrelfall | 6 | a | 5(Chai0 | |||
| R'Bob'Pluck | 6 | |||||
| DMack(3) | 5 | 5 | ||||
| Mciil(s) | 3 | 1 | 3 | |||
| N Barnes(4) | 5 |
| rational decisionsare madebyt ganisation'sexecutivestructure |
heexecutive.The comprises: |
Chief Executive |
|---|---|---|
ChiefExecutiveOfficer |
EmPloYee | Fulltime |
| Curator | Volunteer | Vacantrole |
| AssistantCurator | Volunteer | Parttime |
| AirOperationsManager FinanceOfficer |
EmPloYee EmPloYee |
Parttime Parttime |
| AdministrativeAssistant OperationsSupervisor WelcomeSupervisor BookingsClerk VolunteerCo-Ordinator CateringManager CateringAssistant |
Employee EmPloYee EmPloYee EmPloYee Volunteer EmPloYee EmPloYee |
Vacantrole Parttime Parttime Parttime Parttime Parttime Parttime |
| Unrestricted | Restricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|---|
| funds | funds | 2023 | 2022 | |||
| Description | Ê | f | Ê | f | ||
| lncomefrom: | ||||||
| Gharitableact¡v¡t¡es | Note 2 | 20,601 | 13,609 | 34,210 | 85,469 | |
| Tradingactivities | Note3 | 130,296 | 130,296 | 116,963 | ||
| Donations&legacies | 3,607 | 3,607 | 4,439 | |||
| lnvestments | ||||||
| Rents receivable | 9,032 | 9,032 | 9,032 | |||
| lnterestreceivable | 827 | 827 | 121 | |||
| Totalincome | 164,363 | 13,609 | 177,972 | 216,024 | ||
| Expenditureon: | ||||||
| Charitableactivities | Note4 | 141,372 | 8,377 | 149,749 | 158,192 | |
| Tradingactivities | Note5 | 127,156 | 127,156 | 111,437 | ||
| lnvestment management costs | 258 | 258 | 182 | |||
| Total expenditure | 268,786 | 8,377 | 277,163269,811 | |||
| Netincome/(expenditure) beforetransfers |
(104,423) | 5,232 | (99,191)(53,787) | |||
| Transfers between funds | ||||||
| Netmovementinfunds | (104,423) | 5,232 | (99,191)(53,787) | |||
| Totalfundsbroughtforward | 2,166,94443,9632,210,9072,264,694 | |||||
| Totalfundscarried forward | î2,062,521849,195 12111,716t2,210,907 : : |
| Description | Notes | Notes | 2023 Ê |
2022 Ê |
|---|---|---|---|---|
| Fixedassets | ||||
| lntangibleassets | 1 | vi | 1 | 1 |
| Tangibleassets | 7 | 1,822,051 | 1,820,871 | |
| Heritage assets | B | 51,292 | 51,292 | |
| 1,873,344 | 1,872,164 | |||
| Current assets | ||||
| Stock | 13,858 | 19,187 | ||
| Debtors | 10 | 23,755 | 17,186 | |
| Cashatbank and in hand | 244,082 | 357,930 | ||
| 281,695 | 394,303 | |||
| Creditors: amountsfallingdue | ||||
| withinoneyear | 11 | 43,323 | 30,560 | |
| Netcurrent assets | 238,372363,743 | |||
| Total assets less currentliabilities | 2,111,716 | 2,235,907 | ||
| Creditors:amounts fallingdue | ||||
| aftermorethanoneyear | 11 | 25,000 | ||
| Netassets | 14 | î2,111,716î2,210,907 | ||
| Restr¡ctedfunds | 12 | 49,195 | 43,963 |
|
| Unrestricted funds | 13 | 2,062,521 | 2,166,944 | |
| Totalfunds | Ê2,111,71612,210,907 |
| HARITYBALANCE SHEET- ASAT31MARCH2023 | ||||
|---|---|---|---|---|
| Description | Notes | 2023 | 2022 | |
| Fixedassets | Ê | Ê | ||
| lntangible assets | 1 | VI | 1 | 1 |
| Tangibleassets | 7 | 1,822,051 | 1,820,871 | |
| Heritageassets | B | 51,292 | 51,292 | |
| Investments | 9 | 1 | 1 | |
| 1,873,345 | '1,872,165 | |||
| Current assets | ||||
| Debtors | 10 | 42,050 | 71,455 | |
| Cashatbank and in hand | 228,148 | 316,687 | ||
| 270,198 | 388,142 | |||
| Creditors: amountsfallingduewithinoneyear | 11 | 31,827 | 24,400 | |
| Netcurrent assets | 238,371 | 363,742 | ||
| Total Assets less currentliabilities | 2,111,716 | 2,235,907 | ||
| Creditors:amounts fallingdueaftermorethanoneyear | 11 | 25,000 | ||
| Netassets | 14 | L2]11,716 | î.2,210,907 | |
| Restricted funds | 12 | 49,195 | 43,963 | |
| Unrestrictedfunds | 13 | 2,062,521 | 2,166,944 | |
| Totalfunds | 82,111,716 | r.2,210,907 |
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | 2023 | 2022 | |
| Ê | Ê | Ê | f | |
| Netincome/(expenditure) after transfers | ||||
| as perthe Consolidated Statementof FinancialActivities |
(104,423) 5,232 | (99,191) | (53,787) | |
| Adjustmentsfor: | ||||
| Rents receivable | (9,032) | (9,032) | (9,032) | |
| lnterestreceivable | (827) | (827) | (121) | |
| Depreciation charges | 5,944 | 5,944 | 4,014 | |
| Heritageasset impairments | ||||
| Decrease instock | 5,329 | 5,329 | 174 | |
| (lncrease)/decreaseindebtors | (6,569) | (6,569) | (277) | |
| lncrease/(decrease)increditors | 12,763 | 12,763 | 9,291 | |
| Releaseofloanrepayment | ||||
| Netcashprovidedby/(usedin) operat¡ngactivities |
(96,815) 5,232 | (91,583) | (49,738) | |
| Gashflows frominvestingactivities: | ||||
| Rents received | 9,032 | 9,032 | 9,032 | |
| lnterestreceived | 827 | 827 | 121 | |
| Purchase oftangible fixedassets | (7,124) | (7,124) | (5,193) | |
| Netcash providedbyinvesting | ||||
| Activities | 2,735 | 2,735 | 3,960 | |
| Cashflows from financingactivities: | ||||
| Loan repayments | (25,000) | (25,000) | ||
| Netcash(used in)financingactivities | (25,000) |
(25,000) | ||
| Netchangein cash | (119,080)5,232 | (113,848) | (45,778) | |
| Cashbalances brought forward | 323,71434,216357,930 | 403,708 | ||
| Cashbalances carried forward | î204,634î39,448î244,082 | Ê357,930 | ||
| Netincome/(expenditure) after transfers |
| 2 | INCOME FROMCHARITABLE ACTIVITIES | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| Funds | funds | funds | ||
| € | Ê | C | ||
| 2023 | ||||
| Site Restoration | ||||
| Curation | 4,560 | 4,560 | ||
| Natural&Environmental Conservation | 4,049 | 4,049 | ||
| Vocational Training&Education Business Development |
20,601 | 5,000 | 25,601 | |
| Ê20,601Ê13,609 | î34,210 | |||
| 2022 | ||||
| Site Restoration | 17,740 | 15,000 | 32,740 | |
| Curation | 8,000 | 8,000 | ||
| Natural&Environmental Conservation | 3,449 | 4,080 | 7,529 | |
| Vocational Training&Education Business Development |
21,000 16,200 | 37,200 | ||
| t50,189 | Ê.35,280 | Ê.85,469 | ||
| lncomefromCharitableActivitiesincludesthefollowing'government | 2023 | 2022 | ||
| grants': | ||||
| Source | Ê | e | ||
| Essex County Council | ||||
| Maldon Distrlct Council | 16,000 | |||
| National Lottery HeritageFund HMRC-furlough grants |
1,74; | |||
| Rural PaymentsAgency | 4,049 | 3,449 | ||
| r.4,049 | î21,189 | |||
| 3 | INCOME FROMTRADING ACTIVITIES | |||
| 2023 | 2022 | |||
| f | f | |||
| Activity(asdefined in Section2ofthelrustees'Report) | ||||
| CoreVisitor Offer | 69,474 | 70,993 | ||
| Public Events&Private Hires | 42,184 | 32,938 | ||
| SMGWAas anOperationalAerodrome | 18,638 | 13,032 | ||
| e130,296 | î.116,963 |
| PENDITURE ONCHARITABLE ACTIVIT | IES | |||
|---|---|---|---|---|
| Direct | Support | Total | Total | |
| costs | costs | 2023 | 2022 | |
| Ê | Ê, | Ê | Ê | |
| Activity | ||||
| Site Restoration | 4,948 | 32,109 | 37,057 | 76,613 |
| Curation | 1,849 | 16,898 | 18,747 | 16,896 |
| Natural&Environmental | 7,778 | 7,778 | 5,374 | |
| Conservation | ||||
| Vocational Training&Education Business Development |
86,167 | 86,167 | 59,309 | |
| 86,797 | Ê142,952 | î149,749 | Ê,158,192 |
| PENDITUREONTRADINGACTIVITIES | ||||
|---|---|---|---|---|
| Direct | Support | Total | Total | |
| costs | costs | 2023 | 2022 | |
| Ê | Ê, | Ê | Ê | |
| Activity | ||||
| CoreVisitor Offer | 26,397 | 32,769 | 59,166 | 52,062 |
| Public Events&Private Hires | 15,653 | 32,769 | 48,422 | 44,806 |
| SMGWAas anOperationalAerodrome | 8,644 | 10,924 | 19,568 | 14,569 |
| Ê50,694 î76,462 | 1127,156 | Ê.111,437 |
| UPPORTCOSTS he constituent elementsoftheGroup'ssupportcostsareo inancial Statements.They includeL5,944fordeprecialion( terestontheloansfromMaldon DistrictCouncil (2022:Ê60 elated costsarealso includedinsupport costs,asfollows: |
utlinedinNote 2022: Ê4,014)a 0).All theGroup |
1ivtothese ndÊ813for 'ssalaryand |
|---|---|---|
| 2023 | 2022 | |
| f | Ê | |
| Wages andsalaries | 115,070 | 85,475 |
| Employer'snationalinsurancecontributions | 4,431 | 3,476 |
| Employe/scontributions-defined contributionpension | 2,338 | 1,412 |
| scheme | ||
| Totalsalary andrelated cost | t121.839 | 190,363 |
| 25lFç |
| NVESTMENTS(of theGharity) | ||
|---|---|---|
| 2023 | 2022 | |
| lnvestmentinSMGWATradingLimited | Ê1 | E1 |
| TradingLimited | ||
|---|---|---|
| Profit& LossAccount | 2023 Ê' |
2022 E |
| Turnover | 130,296 | 116,963 |
| Costofsales | (49,213) | (42,514) |
| Grossprofit | 81,083 | 74,449 |
| Administrativeexpenses | (77,943) | (70,543) |
| 3,140 | 3,906 |
|
| lnterestreceivable | ||
| Profit for the financialyear | 3,140 | 3,906 |
| Gift aidedprofitsto Stow MariesGreat WarAerodrome | (3,140) | (3,906) |
| Limited | ||
| Reservescarried forward | Ê- | Ê- |
| 2023 | 2022 | |
| Balance Sheet | Ê | r. |
| currentassets | 38,094 | 62,813 |
| Currentliabilities | (38,093) | (62,812) |
| Totalnetassets | Ê1 | î.1 |
| Representedbysharecapital | Ê1 | Ê1 |
| ODEBTORS | ||||
|---|---|---|---|---|
| 2023 Ê |
Group 2022 f |
Charity 2023 2022 ʀ |
||
| Tradedebtors | 5,759 | 2,383_ | ||
| Amountsduefrom subsidiary company | 26,597 | 56,653 | ||
| Value addedtax | 2,017 | 2,077 | ||
| Otherdebtors | 3,233 | 2,560 | ||
| Prepayments | 14,763 | 12,786 | 12,893 | 12,785 |
| î23,755 f17,186 | f-42,050 | 1.71,455 |
| REDITORS | ||||
|---|---|---|---|---|
| Group 2023 2022 Ê û |
Charity 2023 2022 fÊ |
|||
| Amounts fallingduewithinoneyear | ||||
| Trade/other creditors | 10,173 | 6,091 | 8,025 | 5,415_ |
| lncomereceived in advance | 8,623 | 4,904 | ||
| Accruals | 5,656 | 4,924 | 4,931 | 4,344 |
| Loancapital instalments | 12,500 | 12,500 | 12,500 | 12,500 |
| VAT | 2,675 | 2,675 | ||
| Salary relatedcreditors | 3,696 | 2,141 | 3,696 | 2,141 |
| L43,323 | Ê.30,560î31,827 | tt^* | ||
| Amounts fallingdueafteroneyear Loancapital instalments |
Ê25,000 | Ê.25,000 | ||
| Pensionliabilities ncludedwithincreditorsat theyear-end areoutstandingpensioncontributionsofÊ942 |
||||
| 2022:înil). | ||||
| Loancapital instalments SMGWA receivedtwoloansinSeptember2013toenable |
ittopurchase | the freehold of the | ||
| Stow Maries site:Ê200,000fromEssex County Council and Ê100,000fromMaldon | District | |||
| Council.Underthe terms of the loan | agreements,SMGWAwasrequiredtorepaytheloans | |||
| nequalannualinstalmentsofÊ25,000andÊ12,500 respectively overthe8-yearperiod endingin2023.Followingasuccessfulnegotiation,and afinalpaymentofÊ50,000,Essex CountyCouncil agreed, inSeptember2020,toconverttheremainingÊ75,000of theirloan |
||||
| ntoagrant.The loan agreementwithMaldon District Councilisstillinplace. | ||||
| ESTRICTED FUNDS(oftheGroup andtheCharity) | ||||
| Asat | Asat | |||
| lApril lncoming |
Resources | 31March | ||
| 2022 Ê resources s |
expended ff |
Transfers | 2023 f |
|
| Emergency Building WorksFund | 2,029 | 2,029 | ||
| ldeal lnterpretationsFund | 2,770 2,000 |
(4,120) | 6s0 | |
| MagnoxSocio-EconomicFund | 4,391 | 4,391 | ||
| NaturalEngland Environment | 14,106 4,048 |
(1,756) | 16,398 | |
| A.l.M.(Nature Near and Now) | 6,095 | 6,095 | ||
| SEAF Fund | 4,825 | 4,825 | ||
| EssexCommunityFoundation | 5,000 | (2,500) | 2,500 | |
| GoFund Me-"Sopwith toStow" | 2,560 | 2,560 | ||
| 34,216 13,608(8,376) |
39,448 | |||
| Restricted HeritageAssetFund | 9,747 | 9,747 | ||
| TotalRestricted Funds | t-43,963Ê13,608(Ê8,376) | 49,195 |
| UNRESTRICTED FUNDS(oftheGroup andtheCharity) | ||
|---|---|---|
| 2023 | 2022 | |
| c | C | |
| Unrestrictedfundsas at1April | 2,166,944 | 2,221,429 |
| Netmovementinunrestricted funds | (104,423) | (54,485) |
| Unrestricted fundsas at 31 March | î2,062,521Ê.2,166,944 | |
| Groupunrestricted fundsarerepresentedby: | ||
| Stow MariesGreatWarAerodrome-site | 1,795,6301,795,630 | |
| freehold | ||
| Otherfixed assets&stock | 81,825 | 85,975 |
| Cash and cash-equivalent assets | 185,066 | 285,339 |
| î2,062,521[.2,166,944 |
| 14 | ANALYSISOF GROUPNETASSETSBETWEEN | FUNDS | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| Fundst | Funds Ê |
Fundst | ||
| Asat31 March 2023 | ||||
| lntangible fixedassets | 1 | 1 | ||
| Tangible fixedassets | 1,822,051 | 1,822,051 | ||
| Heritageassets | 41,545 | 9,747 | 51,292 | |
| Currentassets-stock | 13,858 | 13,858 | ||
| Currentassets-debtors | 23,755 | 23,755 | ||
| Currentassets-cash at bank and in hand | 204,634 | 39,448 | 244,O82 | |
| Currentliabilities | (43,323) | (43,323) | ||
| Long-term liabilities | ||||
| Netassetsat31March 2023 | t2,062,521Ê49,195 | î2,111,716 |
| hecharitablecom | p | any and Group'sminimumf | uturerentalincomeisasfollows | |
|---|---|---|---|---|
| 2023 | 2022 | |||
| C | r, | |||
| Receivablewithin | 1 | year | Ê503 | Ê503 |
| PARATIVECONSOLIDATEDSTATEME me& ExpenditureAccount) |
NTOF FINANCIALAC | TIVITIES(in | cluding |
|---|---|---|---|
| Unrestricted | Restricted | ||
| Yearended31March2022 | funds f |
funds f |
Total t |
| lncome from: | |||
| Charitableactivities | 50,189 | 35,280 | 85,469 |
| Trading activities | 116,963 | 116,963 | |
| Donations&legacies | 4,439 | 4,439 | |
| lnvestments | |||
| Rents receivable | 9,032 | 9,032 | |
| lnterestreceivable | 121 | 121 | |
| Totalincome | 180,744 | 35,280 | 216,024 |
| Expenditure on: | |||
| Charitableactivities | 123,610 | 34,582 | 158,192 |
| Trading activities | 711,437 | 111,437 | |
| lnvestmentmanagementcosts | 182 | 182 | |
| Totalexpenditure | 235,229 | 34,582 | 269,811 |
| Netincome/(expenditure) beforetransfers |
(54,485) | 698 | (53,787) |
| Transfersbetweenfunds | |||
| Netmovementinfunds | (54,485) | 698 | (53,787) |
| Total fundsbroughtforward | 2,221,429 | 43,265 | 2,264,694 |
| Total fundscarriedferward | t2,166,944 | Ê43,963 | 1.2,210,907 |