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||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|





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|aterdetail,the Charity's aforementioned unrestr<br>earbya numberofgrants,namely:|ictedcharitable|
|---|---|
|Source|Amount|
|GarfieldWestonFoundation|20,000|
|SHAREMuseumsEastdevelopmentday|601|
|Total|rza,601|



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|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||||||





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|rational decisionsare madebyt<br>ganisation'sexecutivestructure|heexecutive.The<br>comprises:|Chief Executive|
|---|---|---|
|<br>ChiefExecutiveOfficer|EmPloYee|Fulltime|
|Curator|Volunteer|Vacantrole|
|AssistantCurator|Volunteer|Parttime|
|AirOperationsManager<br>FinanceOfficer|EmPloYee<br>EmPloYee|Parttime<br>Parttime|
|AdministrativeAssistant<br>OperationsSupervisor<br>WelcomeSupervisor<br>BookingsClerk<br>VolunteerCo-Ordinator<br>CateringManager<br>CateringAssistant|Employee<br>EmPloYee<br>EmPloYee<br>EmPloYee<br> <br>Volunteer<br>EmPloYee<br>EmPloYee|Vacantrole<br>Parttime<br>Parttime<br>Parttime<br>Parttime<br>Parttime<br>Parttime|



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|||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)<br>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<br>:<br>:|||||





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|Description|Notes|Notes|2023<br>Ê|2022<br>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|<br>43,963|
|Unrestricted funds|13||2,062,521|2,166,944|
|Totalfunds|||Ê2,111,71612,210,907||





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|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|





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||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|
||funds|funds|2023|2022|
||Ê|Ê|Ê|f|
|Netincome/(expenditure) after transfers|||||
|as perthe Consolidated Statementof<br>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)<br>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|<br>(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|||||





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|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<br>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<br>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<br>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|





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|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<br>Business Development||86,167|86,167|59,309|
||86,797|Ê142,952|î149,749|Ê,158,192|



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|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|



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|UPPORTCOSTS<br>he constituent elementsoftheGroup'ssupportcostsareo<br>inancial Statements.They includeL5,944fordeprecialion(<br>terestontheloansfromMaldon DistrictCouncil (2022:Ê60<br>elated costsarealso includedinsupport costs,asfollows:|utlinedinNote<br>2022: Ê4,014)a<br>0).All theGroup|1ivtothese<br>ndÊ813for<br>'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|
|||25lF*ç*|





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|NVESTMENTS(of theGharity)|||
|---|---|---|
||2023|2022|
|lnvestmentinSMGWATradingLimited|Ê1|E1|



|TradingLimited|||
|---|---|---|
|Profit& LossAccount|2023<br>Ê'|2022<br>E|
|Turnover|130,296|116,963|
|Costofsales|(49,213)|(42,514)|
|Grossprofit|81,083|74,449|
|Administrativeexpenses|(77,943)|(70,543)|
||3,140|<br>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|



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|ODEBTORS|||||
|---|---|---|---|---|
||2023<br>Ê|Group<br>2022<br>f|Charity<br>2023<br>2022<br>Ê€||
|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|





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|REDITORS|||||
|---|---|---|---|---|
||Group<br>2023<br>2022<br>Ê<br>û||Charity<br>2023<br>2022<br>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<br>Loancapital instalments||Ê25,000||Ê.25,000|
|Pensionliabilities<br>ncludedwithincreditorsat theyear-end areoutstandingpensioncontributionsofÊ942|||||
|2022:înil).|||||
|Loancapital instalments<br>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<br>endingin2023.Followingasuccessfulnegotiation,and afinalpaymentofÊ50,000,Essex<br>CountyCouncil agreed, inSeptember2020,toconverttheremainingÊ75,000of theirloan|||||
|ntoagrant.The loan agreementwithMaldon District Councilisstillinplace.|||||
|ESTRICTED FUNDS(oftheGroup andtheCharity)|||||
||Asat|||Asat|
||lApril<br>lncoming|Resources||31March|
||2022<br>Ê<br>resources<br>s|expended<br>ff|Transfers|2023<br>f|
|Emergency Building WorksFund|2,029|||2,029|
|ldeal lnterpretationsFund|2,770<br>2,000|(4,120)||6s0|
|MagnoxSocio-EconomicFund|4,391|||4,391|
|NaturalEngland Environment|14,106<br>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<br>13,608(8,376)|||39,448|
|Restricted HeritageAssetFund|9,747|||9,747|
|TotalRestricted Funds|t-43,963Ê13,608(Ê8,376)|||49,195|



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|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<br>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|



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|hecharitablecom|p|any and Group'sminimumf|uturerentalincomeisasfollows||
|---|---|---|---|---|
||||2023|2022|
||||C|r,|
|Receivablewithin|1|year|Ê503|Ê503|





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|PARATIVECONSOLIDATEDSTATEME<br>me& ExpenditureAccount)|NTOF FINANCIALAC|TIVITIES(in|cluding|
|---|---|---|---|
||Unrestricted|Restricted||
|Yearended31March2022|funds<br>f|funds<br>f|Total<br>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|<br>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|<br>269,811|
|Netincome/(expenditure)<br>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|