Stow Maries Great War Aerodrome Limited
Consolidated Financial Statements
Incorporating the Trustees. and Independent Examinerfs Reports
Year ended 31 March 2025
•AECTP4YO'
091101￿)25
COMPANIES HOUSE
A18
#49
Reglstered Company Na. 07863395
Registered Clwily No. 1131099

STOW MARIES GREAT WAR AERODROME UMITED
Yw End•d 31it IAafth 21YIS
CONTENTS
Pag
Trustees. Report
3-12
Statmnt of Trustees. Responsibilities
13
Independent Examinefs Report
14
consi51idat.éd Stateffiem Of Fifianeiai Aetlvifie&
15
cort8Olldatéd BalahÈè Shéèf
16
Charity Balance Sheet
17
COA&Olidatéd Slaféménf of Cash Flows
18
NOle& fo the" Cortsoridaied FihafiÈiai statements
19-30
21Page
•d Ch4rfty 140. 1151099

STOW MARIES GREAT WAR AERODROME LIMITED
A Chafllable Compw Llmited by Guarantee
Ended 31*1 Alarth 2025
TRUSTEES. REPORT
The Trustees are pleased to present Iheir report on the affairs of Slow Maries Great War
Aerodrome Limited (SMGWA), together with the independently examined Financial Statements
of the charitable company and its subsidiary C(￿npanY, SMGWA Trading Limited, for the year to
31 March 2025.
The Consolidated Financial siatements have been prepared in accordance with the accounting
policies set out in Note 1 lo the Consolidated Financial Statements .and comply with Ihe
Companies Act 2006.
1. OBJECTIVES AND ACTMnES
Stow Maries Great War Aerodrome has the largttt and most complete surviving group of Royal
Flying cO￿S buildings on a First World War (WW1) aeiodrome in the country, a rare surviving
example which shows the layout and organisation of a WWI aerodrome. Established in 1916 as
a main base for No 37 (Home Defence) Squadron, Royal Flying Corps (RFC), the aerodrome was
operational for two years during the First World War. playing a pivotal role in helping defend the
British mainland from attacks by German Zeppelln airships and Gotha fixed-wing bombers. 37
Squadron transitioned from Ihe RFC to'the newly formed independent Royal Air Force (RAF) on 1
April 1918 and remained at Stow Maries until 1919 when it transferred to RAF Biggin Hill.
The site was largely untouched after it went out of use and twenty-two Grade two (Star) buildings
remain out of the original forty-nine. The freehold of the site was acquired by the Charity in
Deeembéf 2013.
The sile also contains many ecological habitats capable of supporting a wide variety of species
and plant life and Is reglstered for the rehabilitaiion of endangered species. This combination of
histotic and natural assets Jends the site high significance.
The objects of the Charity, as set out in its Articles of Associatlon. are lo preserve the fabrfc of
Stow Maries World War One Aerodrome for the public benefit. and to advance the educatlon of
the public in the history of Stow Maries World War One Aerodrome. the Great War and the natural
history of the surrounding countryside in such ways as may be deerned chafTtable in law..
With this in mind. the Charitys core vision is lo consrn our ￿1que herltage slte to enable it to
playa vltal witemp¢>rary role in the lives of ow local and wlder communlties and beeome a k•y
The Charitys aims are to:
Research, preserve and tell the stories of the men and women who INed. worked and
died at SMGWA.
Tell the story of London and the South East's hofne defence during the First World
War, through the Inte￿retatIOn and display of previously disparate collections of the
period.
Provide enjoyable educational. hefitage and leaming opportunities for all audiences.
Deliver. with support from industry and training partners, vocational skllls
development and volunteering opportunities, particularly for young people.
Champion and be an exemplar of active participation and lifelong volunteering at the
site.
Make accessible the important natural heritage and biodiversity of the site.
Deliver an exciting. engaging and varied programme of participatory ev￿ts, such as
air displays. talks and family activities.
Conserye all strurtures on the Heritag*at.Risk register.
In pursuing these aims. the Charity takes ils impact on the local and regional community very
seriously. and its officers regularly meet rewesentatives of the community to discuss matters of
coritern.
31Page
R•gisievEd Ch*lty 1151099

STOW MARIES GREAT WAR AERODROME UMITED
Yw Ended 31d la•r¢h 2025
2. ACHIEVEMENTS AND PERFORMANCE
This section of the report summarises ihe achievements and performance of SMGWA in the year
to 31 March 2025 in relation to the aims above. The Trustees have paid due regard to guidance
from ihe Charity Commission on public benefit in deciding what activities the charitable company
should undertake, and the impact of the following achievements. based on SMGWA'S aims,
evidence that public benefit.
Shè Réstoraiioh
The Charrty has clear and staled aims to "Conserve all structures on the HerItag￿t-Risk registerf
and "Make accessible the important natural heritage and biodiversity of the site". The Board Is
keen to reinstate structuies presently missing from their original locations on site - such as
wooden barrack huts and aircraft sheds - when funding allows.
The following activities have taken place over the 2024125 year.
Ongoing monitoring and responsive maintenance to the built estate presently under
renovation including Building 31, 32 & 33 (Officers. Accommodation Blocks). Building 10 (Ihe
Mortuary). and Building 17 (Pilots, Ready Rooms) enabling future planning for their widei use.
Careful and sensitive clearance and upkeep of Building 46 (Generat￿ Hut) including
preventlng access to pests.
Ongoing roof repairs to Building 16 {AlM￿n.$ Mess) and Building 5 (Communication Shed).
Ongoing reinstatement of period paint schemes in Building 34 (Officers, Mess) and Building
16 (Airman's Mess).
Completed structural supporting WO￿ for Officers Mess annex (Buildlngs 35) to mainiain
present surviving elevations.
Cleaced and maintained significant drainage ditches throughout the site.
Installed temporary habitsts for various bird species. including raptors. across the site at
various locations.
ctsyatlofi
The Curatorial Team has benefitted from new volunteers. The following activitles have taken
place-.
Successful installation of "Feeding the Nation" a temporary exhibition hI￿lightIng the
activities of the stte during its tenure as a farm in World War 2.
Successfully established strong relationships with 2 new museum ambassadors leading
to book signings. articles in the press and talks on site covering key parts of the Stow
Maries story.
Successful maintenance of Spectnjm 5 standards for the existing Colle￿lon, new loans
and donations.
RLNestablished relationships with a nwnber of museums ranging from the Wilkin & Sons
archive (Tiptree) and RHS Hyde Hall to RAF Museum and Imperial War Museum.
Naturdl & Envlronmental Conserv*ion
The Stow Maries slte remains of considerable importance for its range of habrtats and potential
to support a wide variety of species including a number of protected species. The Charity is
cOrpo￿e munber of Essex Wildlife Tfust
In 2024125. the Chaiity cominued its membership of the Natural England Entry and Higher Level-
Stewardships schemes targeted at preserving the ecological well-being of the site.
As part of our ongoing commitment io preserving our ecology and io promote the biodiversity
value of the site we have introduced regular wildlife walks and are planning for wildliftrfocused
events for families in summer 2025. We have also installed arKI mainlained pathways through
the wooded area. including a picnic area for families.
41Page
R•glslered Ch*lty 14D. 1151099

STOW MARIES GREAT WAR AERODROME LIMITED
End•d 3111 March 202S
2. ACHIEVEMENTS AND PERFORMANCE. contirnRd
Vocalional Trainlng & E(￿￿￿10n
The Charity successfully continued a series of key stage 2 leaming visits with local schools.
leading to confirmed uptake and repeat visits planned for 202512026. Over 23 schools and
educational needs groups have visited the aerodrome in the year from a variety of local schools
across the region. including students wilh complicated special needs.
The CANSATS Rocketry Competition returned in March 2025 with double the amount of school
groups. followed by an equally successful retum of the UK Rockety Regional finals in the same
mofith.
Cm Wisitor Off
Ift 2024125. the Charity's Visitor offer Comprised:
Five penThinent and one temporary exhibitions: Home Defence. 37 Squadron. Rule
Britannia.. The Women's War, MT.. Motor Transport, Words without Wires and Terror from
Above (until February 2025) - all based in original buildings.
Introductory tours as part of the admission pr?ce.
Access to two hangars with display aircraft.
A themed retail outlet. and
A café serving fefreshmems. a range of full and light meals. cakes and snacks in the
original Airmen's Mess.
We recorded circa 8.000 admissions in 2024125. These were overwhelmingly aduft visitors and
at events. Oue to the unprecedented re￿nctionS impacting our main access road as a result of
roadworks undertaken by Essex and Suffolk Water l Essex Highways, our visitor journey from
horne to admission was catastrophically impacted. A great deal of work was undertaken by staff
and volunteer4 as well as extemal stskeholders. to bolster visitor footfall and false our profile
during thls time in the face of this direct challenge to our survival. Once full access was possible.
visitors begaTr to retum, alth￿jgh our visitor numbers clid not fulty recover in this year. Thanks to
the Heritage Lottery Fund e￿endIng OUT °Nexl Steps 2024" project, we will deliver significant
promotional work in Spring / Summer 2025 which we hope will go towards returning our visitor
numbers to projected levels. SMGWA continues to occupy position 2 of 29 things to do in Maldon.
as well as holding an average of 4.6 out of 5 for all reviews. (Trip Adviser- March 2025).
Publlc Events, Gnwp Vlslts & Venue H
The Chafitys core visitor offer is complemented by a series of differem W￿1C everrts. fanging
flom flying displays to Remembrance pacades. historic object handling sessions, talk
programmes and olher events.
There were three major air events in the year - Wings and Wheels 2024. Prop Wash - a Festival
of the Ali, and the Large Model Flying Show. Other events included a dog show. craft fayre and
living history events.
The Charity saw continued engagement from fee paying special interesi g￿upS such as Ir3A WI
and local history enthusiasts.
Venue hire income was developed as an area of irrterest with business-to&Jsiness relationships
being developed with local corporate partners.
SIPage
Reglsternl Chty Ilo. 1151099

STOW mAR￿s GREAT WAR AERODROME LIMITED
Year Énded 31# Ma￿h 2025
2. ACHIEVEMEKfs AND PERFORMANCE. continued
SMGWA as an Opwational Affodron
The aerodrome is still operational and accepts flights from light aircraft by prior arrangemem.
A number of private owners base their contemporary, reproduciion and late production historic
aiTcraft on siie. There afe st[￿t terms and conditions attaching lo the use of the site for
hangarage. irKluding no 24-hour access and owners have to comply with the security
arrangements in place.
The site has permission for 3.000 aircraft movements per annum {a landing ￿ ataktroff counting
as one movement). including extra movements on eight specified days per year, allowing foi
flying event days. During 2024125, the" Charity assig1￿d four days for these extra movements.
The number of overall aircraft movements was well within the annual allowance.
Volunteffl
SMGWA presently has circa 110 registered volunteers, comprising a regular core group.
occasional volunteers who support the'core volunteer group. ancl the volunteer Twstees.
The volunteef roles are organised into five 'Fllghts':
1. Curatorial Flight comprising guides, researchers. cataloguers. and consepiationists that
oversee the care of our curatorial and ecological estate.
2. Estate Flight. undertaking landscaping wo¥K and building conservation and maintenance.
3. Mess Flight, serving refreshments in the Airman's Mess café arKI'at stands during events.
4. Welcome Flight, welcoming visitor& selling admission tickets. and funning the shop and event
stands.
5. Admin Flight. volunteer management. and training: and providing ad hoc support on event
days. including site set-up and marshalling.
This overall nurnber has remained broadly stable over the past couple of years. In an average
year. these volunteers give over 26,000 hours of their time for free. an average of over 500 hours
per week and nearly 250 hours per volunteer. Volunteering Irends within the UK continue to
change and the Charity recognises this. We are committed to ongolng development of our
volunteering offerto reflect Ihe diffefing needs ofthe volUnt￿ring community as well as our own.
The Charity corrtinues to. maintain the high standards of sensitivity and professionalism in. its
volunteer operalions that led to it gaining the Queen's Award for Volunteering Services in June
2020.
3. FINANCIAL REVIEW
Ffom a financial perspective. the Group's activilies are sthlivided between tradingactivities and
charitable activities. In greater detail for 2024125:
1. Tradlng activfties
Trading activities are managed and accounted for through Ihe trading subsidiary comparry.
SMGWA Trading Ltd, and comprise admission fees. retail sales and catering (i.e.. Ihe 'core
visitor offerf). public everrts. privale hire, hangarage and lartding fees.
During the course of the year to 31 March 2025 these trading activities generaled income of
£178,918 (2024: £163,938). The direct costs associated with these activities amounted to
£49,854 (2024: £48.691). giving a gross surplus of £129.064 (2024 . £115247). After Ihe
allocation of a fair share of the Group's staff, consultancy and overt￿ad costs (altogether
referTed to as 'support costs.) of £79.746 (2024: £88.379). these trading activilies returned
net surplus of £47.085 (2024 . £24.920).
61Page
R•qlgl•rnd Chrlty Nth 1151099

STOW MARIES GREAT WAR AERODROME LIMITED
A Charilable Company LIMit￿ by Gwantee
Yw Ended 3111 2025
3. HNANCIAL REVIEW. continued
2. Charltablé a￿1￿•$
These activities comprise site restoration. curation, natural & environmental conservation.
vocational training & education. and business development.
Where the direct costs associated with these activities have been funded by grants donated
for the purpose, they are accounted for as restricted charitable activities. To the extent that
these grants are not all defrayed in the year in question. they are carried forward in the Balance
Sheet. In the yearto 31 March 2025 the charitable company received £31.630 (2024.. £49,772)
in restricted grants and expensed £46.611 (2024: £22.603). leaving a carry forwaid of £61,385
(2024: £76.364) for utilisation in 2025126 and bryond. Note 12 10 the Financial Statemenis
provides further detail.
The remainder of the Group's staff. consullancy ar￿ overhead costs (ref. l above) is also
allocated to one or more of the aforementioned charitable activities. In the year 10 31 Marth
2025, these cO￿S tolalled to £158,445 (2024: £137,508). Because they were not funded from
grarrts specified for a particular restricted purpose. these costs are treated as unrestricted.
In greater detail, the Charity's aforementioned unrestricted charitable activities were funded
this year by the following grant:
The Garfield Weston Foundation
50,000
. Total
£50.000
The narrative in Section 2 of this Trustees. Report is aligned with the headline athivities outlined
above, as are Ihe income and expenditure disclosures in Notes 2 to 5 of the Financial Statements.
Aside from trading and chaiitable activities. the Group also generaled incorne froTn:
Doftath)ns & Legades- in the year to 31 March 2025 the Charity received donations (i.e., gifts
made on a voluniary basis without any significanl benefit to the donoi) of £46,898 (2024.
£4,606).
b. Investm¥ts- in the year to 31 Mafch 2025 the Charity received rental income from the Stow
Maries site of £6,032 (2024: £6.782) and bank interest of £1,570 (2024: £2,554). The
subsidiary company received bank interest of £Nil (2024: £Nil).
Reserves Pollcy
The Trustees recognise that it is necessary forthe Group to maintain a minimum level of reserves
to enable it to provide working capital and to act as a contingency to meet any unfofeseen needs.
The charitable company's Reserves Policy requires the Group's minimum unrestricted funds not
invested in fixed assets or stoekto be sufflclent to enablethe company to meet its next 3 montlis.
expenditure on its ￿[eStricted activities.
As of 31 Marth 2025. this equated to a minimum requirement of £62,053 (2024: £65.542). The
Group's actual minimum unrestricted funds not invested in fixed assets Of ￿Ock as ai thai date
amounted to £176.243 (2024: £127.408) - see Note 13 to the Financial Statemerrts.
71Page
Regklwed Ch¥rftyNth 1151099

STOW MARIES GREAT WAR AERODROME LIMITED
A Charltabla Company Umlled by Guaran1••
Y•ar Ended 31*t ma￿ 20ZS
3. FINANCIAL REVIEW- c(Mrflnwd
Fundralsing & Donations Pdky
The charitable company is committed to following the Code of Fundraising Practice laid down by
the Fundraising Regulator (the independent non-statutory body that regulates fundraising across
the charttable sector in England, Wales and Northern Ireland). The Charity will only accept
donations and other financial support which can help il to fulfil rts chairtable objectives and airns
and will noi accept donations and olhef financial support which arise from illegal or disreputable
activities, or which could damage ihe Charity's reputation. The Slow Maries Gift Acceptance
Policy rigidly adheres to the guidelines laid down above. The Charity is committed to honest and
transparent communication Wilh donors and supporters about how their contributions are spent.
Investmert Policy
The Trusiees. Investrnent Pdicy is to invest any surplus cash (over and above the Group's short-
term liquidity needs) in deposit accounts with the Group's bankers. currentjy Santander.
The Tiustees perceive the fesidual risk associated with holding cash with Santander (cash which,
from time to time. will exceed the amount guaranteed by the UK govemmeni's deposit protection
scheme - currentty £85,000) lo be minimal. and one that they are prepared to accept.
Rlsk Management
As part of its overall govemance review. the Boafd has developed a Strategc Risk Register to
identify key risks, and to monitor progress in managing these risks. With four Board Sub-
Committees now up-andrfunning (ref: Section S of this Trustees. Report), each Committee will be
regularty reviewing those aspects of the Group's Strategic Risk Register which fall wtthin their
remit or influenced by the activities of the sU￿cOMmIttee. and will implemeni actions to
eliminate or minimise the impacl of the risks under their control. The major risks will then be
taken to Ihe subsequent Board meeting for furthw action, as necessary.
4. PLANS FOR FUTURE PERIODS
Havlng delivered a better-than*xpected result in 2024125. the CharFty intends lo build on this
success going fopNard. focussing on driving up visttor numbers. achieving strong spend per head
figures (in retail and hospitality areas). developing alternative income streams vthere appropriaie
and building on extemal relalionships.
We recognise that the year ended 2025126 will be the first effectively "clear -of the impact of the
Covid 19 pandemic and associated closures. We anticipate a growing return to fonn with the
museum-visiting communrty. and we intend to have a welcome and professional visitor
experience ready to offer. This will be augmented by incr&￿ed cornmercial activity on the siie.
Whil￿ working hard to secure the consistent opening hours that we have established with our
audiences. Having piloted a number of events in our increased program we will aim to strike a
balance between aspiration and resource as we ty io maintain audience MOm￿rtum.
The Charity has budgeted for 10.000 visitors during the 2025/26 financial year. and this we
believe is attainable bearing ni mind the key poims already raised in ihis section. This stralegy
has a key reliance on our ability to communicate and engage with our audiences. In the closing
months of this year we have ideniified a business need for restructurlng to make better use of
our resources and as such will be appointing an Engagement Officer and Marketing and
Communication Officer. both of which will directly influence the delivery of our plans, whilst
dissolving the vacant Bookings Officer arKI Admin Assistant foles. These steps are directly
supporting OUT Strategy of growth.
8IPage
R*gleTed 4**ity No. 1151099

STOW MARIES GREAT WAR AERODROME LIMITED
A Charilabl• Company Llmiled by Guara￿8
Y8v É￿d31ffi Marth 202S
4. PLANS FOR FimiRE PERIODS . e(xitltiued
Stow Maries Great Waf Aerodrome Limiled is registered as a private company limfted by
guarantee, In￿[pOlated in England and Wales wrth registered company nUrnb￿ 07863395. The
Charity is Co￿$titUted under its Articles of Association dated 26th February 2013 and is
registered Charty, number 1151099.
In the event of the company being wound up. the liability in respect of the guarantee is limited to
£10 per member of the company. The registered office is Hackman's Lane. Purleigh, Chelmsford.
E$Sex CM3 6RN.
5. STRUCTURE GOVERNANCE AND MANAGEME￿[
The Board of Twstees meets bi￿n￿rthty. The Trustees who have held Off￿ during the year are
as followg:
Mf M J Gill (Chair)
Mr J F Aldridge
Mr P l Hewitt (Resigned 28 May 2024)
Ms P A Johnson
Mr C J Macgowan OBE
Mf D Mack
Mr A J McQuiggan
Ma S J ThrÉlfall
The Trustees of the charitable company (under Charity law) are also Directors of the charitable
company under company law. The Trustees/Directors are responsible in law for all strategic and
governance decisions made by the charitable company, and they receive ongoing trainlng as
required.
The Articles of Association stipulate that Trustees can be appointed either by the Charity at
general meeting or by a resolution of the oiher Trustees. There is no maximum number of
Trustees. At each Annual General Meeting, ontrthird of the Trustees are required to retire and are
then eligible for r*appointment. TIK)se longest in office SIn￿their last appoinlment are required
to retire first. A Trustee appointed by a resolution of the other Trustees must retire at the next
general meeting and must not be tak￿ into account in determining the Trustees who are to retire
by rotation.
As part of their induction new Tiustees are provided with an information pack which includes
copies of the Articles of Association. the latest Financial Statements and other relevanl
documenti￿10Th.
The Board has established four Sub£ommittees with delegated authority to exercise powers for
certain functions and to take responsibility for making recommendations to the Board.
Each committee has its own Terms of Reference and comprises a number of Trustees and other
mernbeis chosen for their expertise or knowledge in that sphere of operation. Each Committee
meeting is attended by members of the executive team. The Chair of the Board is an ex-officio
mwnber of all Committees. Trustees ale free to attend any meetings they wish.
91Page
RWor•d Clwlty No. 1151099

STOW MARIES GREAT WAR AERODROME LIMrrED
A ClwltsWe Comwy Umiled by Guaranlee
Yw Énded 3111 March 2tr25
5. STrUCTINIE GOVERNANCE AND MANAGEMENT. continued
As at the Balance Sheet date of Ihese Financial Statements. the membeTthip of each of Ihe
four Sub(ommittees comprise Ihe following individuals (the anticipated minimum number
of meetings for 2025126 is sI￿￿M in brackets):
Corporate Governance Comrrikn {3 meetings w annum)
Penelope Johnson (Chair)
Chrislopher Macgowan
Anthony McQuiggan
Sarah Thcelfaii
Curat1x￿ Committee (5 meetings per annum)
John Aldridge (Chair)
Irene Allen (Minute Secfetary)
Mick Broad
Petei Keam
Dale Lljek
Christopher Macgowan
Peter McGee (Independeni Advisor)
Doug Shorter
Suzanne Wood
Estate and Bulldlngs COMTr￿ (4 meetings per anNm>
Sarah Threlfall (Chair)
Jarf Jansen
ROSS Matland
Doug Shorter
Pats"I Wilson
Flnance and Au(rrt Committee (4 meetings per ann￿￿)
Dave Mack (Chair)
Chrlstophef Macgowan
Anthony McQulggan
Richard Tufnell (Independent Advisor).
Table of Board & Sub-commltteeAttenda￿e 2024125
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J FAldthd
P l Hewitt11
PAJohnson
Cjma
D Mack
Cha5rl
Chai
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S ICh4irl
5 J Thre￿1
l Resydas of28My2024
IOIPage
Rwored Charlty 1151099

STOW MARIES GREAT WAR AERODROME LIMITED
Yw End8d 31*t Mafth 2025
5. sTruclliR4 GOVERNANCE AIID MANAGE￿•￿IT. ￿ll•nUed
The Exéartlvé
All operational decisions are made by the executive. The Chief Executive Officer is lan Flint.
The organisation's executlve structure comprises".
Chief Execulive Officei
Employee
Curator
Volunteer
AÈSlStaM Curator
Voluniéér
Finance Officer
Employee
Operations Supervisor
Employee
Welcome Supervisor
Employee
Bookings Officer
Empk>yee
Volunteer C(FOrdinator
Volunteer
Catering Supervisor
Employee
Catering Assistant
Empk)yee
Full time
Vacant role
Part tlme
Part time
Part time
Vacant role
Vacant role
Part time
Part time
Vacant role
The Board of Trustees is responsible for the setting of executive pay. Pay for staff aims to reflect
the market for comparable jobs in comparable organisations. the level of knwledge, skills and
experience required, and the responsibilities and accountabilities associated wilh each role. All
ernployees. corrtractors and volunteers receive the training they need lo allow them to discharge
thelr thties.
The Patrons of the Charity are led by Lead Patron Mfs knmfer Tolhurst (HM LorthLieutenant of
Essex). Other Patrons include Lord Petre KCVO, DL. The Rl Hon Slr John Whittingdale OBE MP,
Dr Saul David. Dan Snow MBE arKI Mrs Fiona Clegg.
SMGWA Trading
SMGWA Trading Limited. incorporated in ENJland and Wales. registered company rKffnber
09925613. is a vtholly owned subsidiary of the charitable company. The company's primary
activity is to sell goods and services associated with the aims of its parent charitable company.
All the profrts generated by SMGWA Trading Limited are gift aided to the parent tharitable
company (ref: Note 9 10 these Financial siatements). The Directors are Mr J F Aldridge. Mr M J
Gill. WI￿ are also TrU￿eeS of the parent charitable company arKI Mr M E Platt.
111Page
Roolsl•f•d Ch•lty No. 1151099

STOW MARIES GREAT WAR AERODROME LIMrrED
A Chwhablq Company Llmtted by Gu•rnnt••
Y••r Ended 31at Marth 2025
6. OTHER REFERENCE AND ADMTrIISTrATIVE DEfAILS
Bankéts
The company's bankers thioughout the year were:
Santander Bank plc
9 Tindal Street
Chelmsford
ESÈÉX CM1 1 ER
lftdependent Examiners
The IndeperKlent Examiner throughout the year was:
Moore King￿On Smith LLP
Chartered Accountants
ort)ifal House
20 Eastem Road
Romford
Essex RM13PJ
Moore Kingston Srnith LLP has indicated its willingness to continue in office and will be pioposed
for reappoinlment at Ihe Annual General Meeting in accordance with Section 485 of the
Companies Act 2006.
Approved by Order of the Board of Trustees ￿ 30 Septe1r￿er 2025 and signed on its behalf by".
Mf Martyn Gill.
Chair of the 8oaid of Ywstees
121Page
Rqglster•d (* 11¢1. 1151099

STOW MARIES GREAT WAR AERODROME LIMITED
Yw Eftded 31•t March 2025
STATEMENT OF TRUSTEES. RESPONSIBILITIES
For the wlod I WI 2024 to 31 March 2025
The Trustees (who are also the Directors of Stow Maries Great War Aerodrome Limited for the
purposes of company law) are responsible for preparing the Trustees. Report and Ihe Financial
Statements in accordance with applicable law and United Kingdom. Accounting Standards
(United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare Financial Statements for each financial year
which give a true and fair view of the state of affaics of the charitable company and of the
incoming resources and application of resources. including the income and expenditure, of
the charitable company for that period. In preparing those Financlal Statements, the Trustees
are required to:
select suitable accounting policies arKd then apply them consistently:
observe Ihe methods arKI principles in ihe Charity SORP;
make judgments and estimates that are reasonable and prudent:
state whether applicable UK accounting standards have been followed, subject to any
material departures disclosed and explained in the Financial Statements; and
prepare the Financial Statements on the going concern basis unless it is
inappropriate io presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with
reasonable accuracy at any time the financial position of the chafitable company and to
enable them to ensure Ihat the Financial Staiements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the charitable company and hence
for taking reasonable steps for the prevention and detection of fraud and other ifregularities.
In so far as the Tfustees are aware:
there is no relevanl infomation of which the charttable company's Independent
Examiners ale unaware- and
the Trustees have taken all sieps that Ihey ought to have taken io make ihemselves
aware of any relevant inforrnation and to establish that the independent examiners
are awaie of that informatlon.
131Page
Reol¥t*al Cl• No. 1157099

STOW MARIES GREAT WAR AERODROME LIMITED
Y•af End￿ 31Bt PAar¢h 202S
INDEPENDENT EXAmINE￿s REPORT TO THE MEMBERS AND TRUSTEES
OF STOW MARIES GREAT WARAERODROME UMITED
I report on the accounts of the Group for the year ended 31 Maich 2025 which are set out
on pages 15 to 30.
As the Trustees (who are also the Group's Directors) of the Grow you are responsible for
the weparation of the accounts in accordance with the requirements of the Companies Act
2006 Cthe 2006 Act?.
Having satisfied myself that the accounts of the Grow) are not required to be a(Klited under
Part 16 of the 2006 Act are eligible for independent examination. I report in respect of
my examination of your Group's accourrts as carried out under section 145 of the Charities
Act 2011 Cthe 2011 Act). In carrying out my examination I have followed the directions
given by the Charity Commission under section 145(5) (b) of the 2011 ACL
Since the Company's gross income exceeded £250.000 your examiner must be a member
or a body listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake
the examination. because l am a member of ICAEW. which is one of the h.sted bodies.
I have completed my examination. I confimi that no rnatters have come to my attention in
connection with the examination giving me cause to believe:
l) accounting records wece not kept in respect of the Group as required by section 386
of the 2006 Act: or
2) the accounts do not accord wrth those records: or
3) the accounts do not comply wtth the accounting requirements of section 396 of the
2006 Act othei than any requirement that the accounts give a Irue and fairf view
which is nol a matter considered as part of an independent examination: or
4) the accounts have not been prepared in accordance with Ihe methods and
inciples of the Statemerrt of Recommended Practice for accounting and reporting
by charities applicable to chartties preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and'Republic of Ireland'(FRS 102).
I have no concems and have come across no other matters in c0fu￿tiOn with the
examination to which attention should be drawn in this report in order to enable a pcoper
understsnding of the accounts to be reached.
Karen
rdell FCCA
For and on behaff of Moore Klngston Smlth LLP
Orbital House
20 Eastem Road
Romford
Esgex RMI 3PJ
141Page
Réql¥¢*eO owlty Ilo. 1151099

STOW MARIES GREAT WAR AERODROME LIMITED
Yw Ended 31•1 Math 2fj25
CONSOLIDATED STATEMEiif OF FINANCIAL ACTIVITIES (Inckrfing & EA￿dilure
Account)
YEAR.ENDED 31 MARCH 2025
funds
funds
2025
2024
De￿lIP110￿
Incorn frqmn:
Charttable actlvities
Note 2
50.000
178.918
46.898
31.630
81.630
178,918
46.898
73,388
763.938
4.606
Trading activitses
Donallons & legacl
Nole 3
Rents re￿1vable
Interest receivable
6.032
1.570
6,032
1,570
6,782
2,554
Total income
283.418
31.630
315.048
251.268
Charitable actlvltles .
Trading activities
Note 4
116.197
131,833
180
46.611
162.808
131.833
180
745,240
739,020
510
Note 5
Total expendilure
248.210
46.611
294.821
284.770
Net Income / (eXpendI￿re)
35,208
(14.981)
20.227
(33.502)
Transfers btheen funds
Net movement In lunds
35208
(14.981)
20,227
(33.5021
1001.850
76.364 2,078,214 2, 111,716
Total fimds cafried forna
2 037.058
61.383 ZOY8.441 207&214
The. notes'on pages 19 10 30 fomi part of Ihese Financlal Statemenls.
Approved by Order of the Board of Trustees on 30 September 2025 and signed on its behalf by:
Mr Martyn Gill
Chair ol the Board of Trustees
151Page
•r•d Clwmy 110. 1151099

STOW MARIES GREAT WAR AERODROME LIMITED
Y•ar Ended 3111 Matth 2025
CONSOUDATED BALANCE SHEEf.AS AT 31 MARCH 2025
2025
2024
Fixed a8*ets
Intangible assds
Tangible assets
Heritage assets
1,809273 1,816,281
51292
51,292
1,860,566 1.867.574
Stock
Debtors
Cash at bank and in hand
9,997
42,606
21 &766
14.115
17,958
203.881
10
268,369
235.954
Creditors: amouts falllng due
wlthln one year
11
30,494
2S,314
237,875
210.640
2.098,441 1078,214
Creditors: amounts falling due
after more than one year
11
Net xsots
14
2,098,441 2.078214
Restricted funds
12
61383
76.364
Unrestrlcted funds
13
2.037.058 ZOOI.850
Totsl funds
2.098.441 2.078214
For Ihe financial year ended 31 March 2025 the Group was entitled to exemption from audit under
section 477 of the Companies Act 2006. The Members have not required the Group to obtsin an
audit in accordance with section 476 of the Conipanies Act 2006.
The Trustees acknowledge their responsibililies for complying with the requirements of the Act
with respect to accountlng records and the preparation of financial staternents. These accounls
have been prepared in accordance with the provisions applicable to companies subject to small
companies. regime within part 15 of the Companies Act 2(MJ6.
Approved by Ordei of the Board of Trustees on 30 Septernber 2025 and signed on ils behalf by".
Mi Martyn
Chair of the Board of Tfustees
The notes on pages 19 to 30 fomi part of these Flnanclal Statements.
161Page
Reglslernd Ch•rftyllo. 1151099

STOW MARIES GREAT WAR AERODROME LIMITED
A (#hYllabl• Company Limiied by
CHARITY BALANCE SHEEf. AS AT 31 MARCH 2025
2025
2024
Intangible assets
Tangible assets
Heritage assets
Investments
Ivi
1HJ9273
51292
1,876.287
51292
1.860.$67
1.867.575
Debtors
10
64.917
52A79
Cash at bar* and in hand
188.296
172.767
253.213
224.646
Credftors: an￿Unts falllng withwi one y￿r
15339
74.007
237I74
210.639
1098.441
2.074214
Creditors: amounts falling due after more than one year 11
14
1098.441
Z07a214
12
61383
76.364
13
Z037.058
ZOOl.850
Total funds
Z098,441
Z078274
The notes on pages 19 to 30 fo￿ pwt of these Financial
Statements.
A sep8f*e $￿eMeM of Finan￿￿1 Activriies (9)FA) is nol presenied tjecause the eh8Witable comp8ny has taken adyanlage of the
exempt￿$ afforded by settron 408 of Compankn Act 2006. The nel MOV￿ in funds for the parem Charity W8$ a surplus ol
£2U227 (2024,. dél*ll Of £33.5Lf21.
Approved by Order of the Board of Trustees on 30 September 2025 and signed on its behalf by:
Mr Martyn
Chaii of the Ooard of Tiustees
171Page
R41Stor￿ Chartty Na 1151099

STOW MARIES GREAT WAR AERODROME LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS- YEAR ENDED 31 MARCH 2025
T¢)tsl
2025
Total
2024
funds
Net incofflel(expnditure) after transfer5
Flnanclal Aclivitses
35208
(14,981)
20227
(33,502)
Adjustments for.
Rertts receivable
Interest receivable
Depreciation charges
Heritage asset impairments
Decrease in slock
(Increase) Idecrease in debtors
Increase / (decrease) in cieditors
Release of loan repayment
(6.032)
(1.570)
7.008
(6,032)
(1,570)
7,008
(6,782)
(Z554)
6230
4.118
(24.648)
5.180
4,118
(24,648)
5,180
(257)
5.797
(18,009)
Net Cath provthl by l (used in)
19263
(14,979)
4,284
(49.077)
Rents received
Imerest received
Purchase of tangible fixed assets
6.032
1.570
6,032
1,570
6.782
Z554
(460)
7.602
7.602
8,876
Cash flows fram financlng athivrties:
Loan repayments
(-)
{-)
Net dmnge In c
26.865
(14.979)
17￿86
(40207)
137.264
66.617
203.881
244.082
Cath balances wied forward
164.729
51.638
215,767
203,881
18IPage
Regigtored Chwlty No. 11511199

STOW MARIES GREAT WAR AERODROME LIMITED
A Chwliabk c￿PanY Limh•d by Guarantae
Y•4r Enthd 31il Marth 2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
1 ACCOUNTING POLICIES
Basls of accountlng and consolidation
These Financial Staterne￿ts have been prepared urKler the historical cost conveniion and
in accordance wrth the Companies Act 2006. the Charities Act 2011 and the Stalemenl
of Recommended Practice (the Charities SORP) applicable to charities preparing their
accounts in accordance with FRS102 (the Financial Reporting siandard applicable in the
UK arKI Republic of Ireland). They consolidale the accounts of Slow Maries Great Wai
Aerodrome Limited ('the charitable companY). a private company limiied by guarantee,
and SMGWA Trading Limited (Ihe subsidiary company). a private company limited by
shares. Both companies are domiciled and incorporated in England and Wales, and both
have their registered office at Hackman's Lane, Purleigh, Chelmsford, Essex CM3 6RN.
The charitable company is a public benefit entity as defined by FRS102. No separate
Statement of Financial Activities has been presented for the charitable company, as
permitted by Section 408 of the Companies Aci 2006.
These Financial Statements have been prepafed in sterling. which is the functlonal
currency of both the charitsble company and the subsidiary company. Monetary amounts
in these Financial Statements are rounded to nearest pourKI.
The TYuStees havé a reasonable expectation that the charttable company has adequate
resources io contlnue in operational existence for a minimum of 12 months from the date
of approval of these Financial St￿ernentS. As a resujl the Trustees continue to adopt the
going concern basis of accounting in preparing these Financial Statements.
iv.
All income is accounted for on a receivable basis. net of any applicable VAT. Expenditure
is accounted for on an accfuals basis. All income and expenditure is allocated to a
particular activity where it relates directly to thai activity.
All staff and consultancy costs are apportioned across the activities that the particular
functions support. Ovethead costs (including site overheads, administrative costs and
consumables, information technology and insurances) are similarly apportioned. Take
together. all these costs are referred to as 'Support Costs, in Note 6 to these Financial
Staterriems.
Income and expenditure from irading activities (Including related bank interest and a
share of the Group's support costs - see above) is accounted for in the subsidiary
company, SMGWA Trading Limited. All other ir￿rne and expenditure is accounted for in
the charitable company.
Fund ac¢ounting
Unrestricted funds comprise trading income. donations, contract income and other
income receivable or generated for the objects of the charitable company and its
subsidiary company wilhout further specrfied purpose. Restricted funds are grants or
other donations whlch are requiied to be used for specific purposes laid down by the
donor.
191Page

STOW MARIES GREAT WAR AERODROME LIMITED
NOTES TO THE CONSOLIDATED ANANCIAL STATEMEMrs
YEAR ENDED 31 MARCH 2025
1 AccouKfiNG POLICIES - conlirned
Intan￿ble thd assets
The Group's intangible fixed assels cornprise the ￿)QdwIll generaled on the Stow Maiies
site prior to its purchase bythe charitable company. The value of this goodwill was arrived
at ty the solicitors acting for the charitsble compw)y on the pwchase of the site.
i.
The freehold of the Stow Marbes site was acquired in December 2013. All. the cO￿S of
resI￿1ng and conserving the fTeehold land and buildings. including associated
consultancy fees, are written off as they are incurred.
As of the date of approval of these Financial Statements, the Board of Trustees does not
consider it practicable to provide a more up-ttrdate estimate of the value of the freehold
land and buildings, owing to the muftrfarious arKI complex conservation OFders and
consents which would necessarily have an impact upon such an estirnaled value.
Located on the site is a propety. '￿08d Acres.. which has a secured tenant in residence
on a regulated tenary. Undu the regulated ienancy. the tenant is paying a 'fair renf set
by a rent officer at the Valuation Office Agency. This rent is lower than the marfcei rent.
The remainder of the Stow Maries site is held for operational use as a tangible'fixed asset
but, from time to time. parts of the site may be rented out on short-term operating leases.
Because there is no lontytenn intention to hold the site for investmenl purposes, and
because the fair value of all the rented buildings is very small relative to the value of the
site as a whole and canrK)i be measured reliably without undue cost. it is Ihe charltable
CoMpan￿S policy to account for the entire site as freehold pcoperty within tangible fixed
assets. The freehold property is not depreciated because it is deemed to have an
unlimsted usefuj Jife.
In accordance with FRSI 02. Ihe rentsi income from the site is separatety disclosed in the
Statement of Financial Activities. The future minimum rental receipts are disclosed in
Note 15 to Ihe Flmaneial StateihÈnTS.
vlll. Other tangth fixed assets & depreclatlon
Assets costing in excess of £1,000 are capitalised as tangible fixed assets.
The annual depreclation charge for tangible fixed assets is sensitive to changes in the
estimated useful economic Ibves and residual values of the assets. Consequently, the
useful economic lives and residual values are rtrassessed annualty.
In these Financial Statements. depreciation is provided at the following annual rales in
order to write off each tangible fixed asset ovef its estimated useful life:
Plant & Machinery
. 15% on reducing balance
Motor Vehicles
- 15% on reducing balance
Fixtures, FittirvJs &. Equipment
-IO%onco
ICT Equipmenl
- 20% on cost
ix. Heritage assets
Heiilage assets are inilially capitallsed at hisioric cost. Their values are reviewed annually
and any impairment is accounted for as a chafge to the Income & Expenditure account.
Stocks
Stocks are valued at the lower of cost and r*t realisable value. after making due
allowance foi obsolete slow-moving items.
201Page
R•glstered Charlty 1151099

STOW MARIES GREATWAR AERODROME LIMITED
A Chwlt•bh Company Llmliad by GuaraAt••
Vear Énd•d 31st IAarch 2025
NOTES TO THE CONSOUDATED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
I ACCOUNTING POUCIES- conlhwed
All the Group's financial assets and financial liabilities are 'Basic Financial Instruments,,
as defined in Seciion 11 of FRS102. The Group's financial asseis are measured at the
cash consideration expected to be received. and the Group's financial liabililles are
measured at the cash consideration expected to be paid. The amounts falling due on the
charitable company's loans aTe not discounted back to their presenl value as the time
value of money is considered by ihe Board to be immaterial.
Cash and cash equfvalerts
Cash and cash equivalarts comprise cash in hand and deposits held at call with banks.
The company operates a defined corrtribution pension scheme for all qualifying
employees. The assets of ihe defined contribution scheme are held separatety fiom
those of the company in an independently administered fund. Employer contributions are
chawged in ihe accounts as they becwie payable in accordance wilh the rules of the
scheme.
Taxation
Stow Marles Greal War Aerodrome Limited is a Charity within the meaning of section
506(1) of the Taxes Act 1988. Accordingly, it is potentially exempt from taxation in
respect of income or capital gains received within the categories covered by Section 505
of the Taxes Acl 1988 or Seciion 256 of the Taxation of Chargeable Gains Act 1992 to
the extent that such income or gains are applied to exclusively charitable puq)oses.
Govemment grants are recognised at the fair value of the asset received or receivable
when there is reasonable assurance that the grant conditions will be met and the grarrts
will be received.
Govemment grants are recognised as income over the periods when the related costs
are incurred. Grants relating to an asset are Tecogfmsed in income systematically overthe
asset's expected useful life. If part of such a gram is deferred it is Tecognised as defeffed
income rather than being deducted from the assefs carrylng amount.
xvi. Key sources of esthnation Imicertainty
In ihe application of the Group's accountlng poli￿s. the Trustees are required to make
judgements. estimates and assumptions about the caNying amount of assets and
liabilities that are not readily apparent from other sources. The esiimates and associated
assumptions are based on historical experience and other factors that are considered to
be relevant. Actual results may differ from these estimates.
These estimates and underlying assumptions are reviewed on an ongoing basis.
Revisions to accounting e￿imateS are recognised in the period in which the esiimate is
revised where the revision affects only that period, or in the period of the revision and
future perlods where the revision affects both current and future periods.
Other ihan in relation to the value of the freehold property (see Note 1 vii), Ihe Trustees do
not consider there to be any material estimates or judgements contained within these
Flriancial Statahents.
211Page

STOW MARIES GRFAT WAR AERODROME LIMITED
Yw Efttlad 31•1 Marth
NOTES TO THE CONSOUDATED FINANCIAL STATEMENTS
YEARENDED 31 MARCH 2025
2 INCOME FROM CHARITABLE AcnvmES
2025
Site Restoration
Curation
Natural & Environmental Conservation
Vocational Training & Education
Business Development
25.000
25.000
3.590
1.500
3.590
1,500
50,000
so.000
50,000
31.630
81.630
2024
Site Resioration
Curation
Natural & Environmental Conservation
Vocalional Training & Education
Business Development
1.000
7.000
7,072
7.776
64.200
7.072
4.500
44200
2,676
20,000
23.676
49.772
73.388
Income fTom Charitable Activities includes the following
'govemment grants.:
2024
National Lottery Heritage Fund
Historic England
Rural Payments Ager
44.200
25.000
3.591
4,072
28.591
48,272
3 INCOME FROM TRADING ACTMTIES
2025
2024
(as defi'ned in Section 2 of the Trustees, Report)
Core Visitor Offer
Public Events & Private Hires
SMGWA as an Operational Aerodrome
109203
53.406
16309
700.473
49,636
73.889
178.918
763.938
221Page
lJldt•d Charlty 1151099

STOW MARIES GREATWAR AERODROME LIMITED
Year Erttled 31# March 2025
4 EXPENDITIIRE ON CHARrrABLE ACTIVITIES
Totsl
2025
2024
iv
Site Restoration
Curation
Natural & Environmental
Conseryation
Vocational Training & Education
Business t)evelopment
3.451
911
12.791
14.723
13.076
16,242
15,634
13.076
20,079
76,627
75,703
176
117.680
176
117,680
4,229
88,608
4.362
158.446
162,808
145.240
The method of apportionment of the Group's support costs to each of the Group's
charitable and tradiThJ activities is explained in Note liv to these Financial Statemems.
5 EXPENDITUREON TRADING ACTivmES
DIT•et Support
Tot•1
2025
Total
2024
Core Visitor Offer
Public Events & Private Hiies
SMGWA as an Operational Aerodrome
32.728
14,114
5.245
34,176
34.176
11294
66.904
48.290
16,639
67,748
56,329
74,943
52.087
79.746
131.833
739,020
The method of apportionment of the Group's support costs to each of the Group's charitable
and trading activities is explaiwl in Note 1 Iv to these Financial Statements.
6 SUPPORT COSTS
The constituent elements of Group's support costs are outlined in Note 1 iv 10 ihese
Financial Slatements. They include £7.008 for depreciation (2024: £6230). All Ihe Group's
salary and related costs are also included in support costs, as follows:
2025
2024
Wages and salaries
Employefs national insurance conttibutions
Employefs coniributions - defined contribirtion pension
120.467
5,136
3,900
730,428
4,772
3.276
Total salary and related cost
138476
231Page
R¢glsl•rnd Ck¥lty l 151099

STOW MARIES GREAT WARAERODROME LIMITED
A Chafitable Company Limited by Guarantee
Ye¥ Ended 31st March 21n5
6 SUPPORT COSTS - continued
The average number of staff employed during the year was 3 (2024: 4). The average number
of volunteers over the course of the year was in excess of 11 O. It is not practical to place a
value on the time volunteered by these individuals.
Support costs include the following amounts in respect of governance costs for the Group.".
2025
2024
Salary and on-costs (10% of ihe CEO'S salary and onfosts)
Independent Examiner's fees
Statutory accounts and tax fees
5.981
4,700
675
6,209
4,000
650
11.356
70,859
7 TANGIBLE FIXED ASSEfs (of the Group and the CharSty)
Freehold
land
Plant & Fixtures, frttings Motor
machinery & equipment vehicles
Total
Cost I Valuatlon
At l April 2024
Additions
1,795.630
18.787
41,767
5.897 1,862,081
At 31 March 2025
1.795,630
18,787
41,767
5,897 1,862,081
Depreclallon
At l April 2024
Charge for period
12.777
901
28.218
5,943
4,805
164
45,800
7,008
13,678
34,161
4,969
52,808
Net book value
At 37 March 2024
1.795,630
6,010
13,549
1,092 1,816.281
At 37 March 2025
7. 795.630
5,109
7.606
928 1,809,273
HERITAGE ASSETS (of the Group and the Chaffty)
2025
2024
Cost and Valuation as at 1 April 24
Reclassifications as iangible fixed assets
Impairments
51.292
51.292
Cost and Valuation at 31 March 25
51,292
51,292
241Page
Registered Charity No. 1151099

STOW MARIES GREAT WAR AERODROME LIMITED
Year Ended 3.1*1 March 2025
9 INVESTMEKfs (of the Ch*lty)
2025
2024
Investment in SMGWA Trading Limited
£1
£7
SMGWA Trading Limited is a wholty owned subsidiary of the Charity. The Financial
Statements of SMGWA Trading Limited for the year to 31 March 2025 are surnmarised
2025
2024
Turr#)ver
Cost of sales
178,918
763,938
(49.854) (48.691)
Gross profit
Administrative expenses
129,064
115.247
(81,979) (90.327)
47.085
24.920
Interest ceceNable
Profit for the financial year
Gift aided profits to Slow Maries Great War Aerodrome
Lithit'ed
47.085
24.920
(47.085) (24.920)
Reserves carried fO￿ard
2025
2024
Baiarté Shéét
Current assets
Current liabilities
40,767
52.186
(40.766) (52185)
Toial net assets
Represented by share capital
10 DE8TORS
Grnp
2024
2025
2025
20Z4
Trade debtois
Amounts due from subsidiary company
Other debtors
Prq>ayments
3.408
1.488
25,743
24.558
14.616
40.878
24.558
14,640
7,484
14,986
11.607
42.606
77,958
64,917
52,479
25IPage

STOW MARIES GREAT WAR AERODROME LIMITED
Y•ar Endod 31* M•￿h 2025
11 CREDITORS
arity
2024
2025
2024
2025
Arn
within
Trade/other creditors
Income recewed in advance
Accruals
VAT
Salary related creditors
7.852
12.918
6.019
654
3.051
6.315
9.248
6.432
296
3.023
6.440
5.037
5,193
654
3.052
5.651
296
3.023
30.494
25.374
15,339
74.007
Included within creditors at Ihe year-erKI are outstanding pension contributlons of £581
(2024: £542).
12 RESTRICTED FUNDS (ofthe Group and the Charfty)
Asat
Asat
31 March
2025
21Y24 re$ow¢￿ •xpended
Trfs
Emergency Buikling Woths Fund
Magnox SocitrEconomic Fund
Natural England Environmefrt
A.l.M. {Nature Near and Now)
SEAF Fund
Go'Fund Me"Sopwith to Stow"
Head in the Clouds
H.L.F Next Steps 2024
Historic England 2024
Feed The Nation
Spencer West Foundation
713
717
18218
260
4.825
514
271
40.999
(183)
(717)
{1.396)
(260)
(4.413)
530
3.590
20.512
412
514
95
7,573
20,500
(176)
(33.426)
(4.500)
(1.540)
25.000
1,540
1.500
1.500
66,617
9.747
31.630
{46.611)
51,636
9,747
Restricted Heritage Asset Fwd
Total Restricted Funds
76364
31.630
(46.611)
61.383
261Page
RegIsl•r￿ N•. 1151099

STOW MARIES GREAT WAR AERODROME LIMITED
A Charllable Compw Umlted by Guara
Yw Ended 31•1 Mareh 202S
12 RESTrICTED FUNDS (ofthe Group andthe Charrty). Continued
li
Histowic England has been funding emergency WOTks to the buildings on the slow Maries site
since 2013. and match funding has been generously provided by a number of chaiitable
trusts. Rounds l and 2 of the emergency w0￿S were concluded during the year to 31 March
2020. There has been £183 spent in Ihe year.
In accordance with the underlying socio-economic funding agreement Magnox Llmlted,
a whollyowned subsidiary of the Nuclear Decommissioning Authority, Ihis grant continues
to be used to develop the site's wildlife areas. There has been £717 expenditijre from this
fund in 202412025 which completes the fund.
This funding from Natuwal England (received via the Rural Paymarts Agency) continues to
be used io maintain the site's grasslands and to enhance the naiural environment to make frt
more attractive to wildlife and insects. There has been £1,396 spent in the year.
ndN
This funding from Association of Independent Museums. is applied to the Nature Near and
Now Project. an ecological pcoject aimed at bringing more families on to Stow Maries. There
was £260 expenditure from this fund in 2024/2025 which completes the fund.
The Social Enterprise Accelerator Fund. administered by Maldon District c0￿clI. was set up
by the South East Local Entefprise Partnership (SELEP) to lund business recovery from the
cov1[￿7 9 Pandemic. SMGWA was successful in its application for funding lo cover the costs
of new external, temporary Marquees. These are to be used to provide covered spaces
extemally for visitors not yet comfortable in the reduction of Social Distancing within the
Café area: thereby enabling thitering sales to grow. There has been £4,413 expenditure in the
year.
To facilitate the installation of Ihe Sopwrth Tabloid 168 at SMGWA. There was no expendilure
in the year.
-Essex Community Foundation provided funding for revenue and material costs for a serles
of Wofkshops ihat welcomed over 300 young people and helped them explore the stories of
eafly avia1ion, STEM and the history of Stow Maries Great War Aerodrome. There was £176
expenditure from this furKI in the year.
National Lottery Heritage Fund {NLHF) have awarded clfca £88,000 to cover a variety of
expenses. The 18 month Next Steps 2024 project is designed to drlve footfall to meet or
mitigate our income shortfall on our journey towards sustainability post pandemic. The
appioved purposes for this funding range from promotional materials through to event
Costs and staffing. There has been £33.426 expenditure from this fund in the year.
Having recognised with our funding partner, Historic England. that future works in our
renovation plan would require some data of greater depth than presently held. this fund is
covering professional fees for ground investigatlon and monitoring work golng on through
this and the following yeai.
271Page
Rogl•iw4d Charlty 1151099

STOW MARIES GREAT WAR AERODROME LIMITED
A Clwllabl• C•mpony Llmlt•d by Guwa
Y••r EAd•d 31•t March 2025
12 RESTrICTED FUNDS (ofthe Group andthe Charlty). Continued
Coming from two separate funders mie Middlewick Wind Farm Communty Benefft fund -
administered by the Essex Communrty Foundation and the NFU Essex Charitable TrusL) this
fund is targ￿ed towards our new exhibition opening April 2025 °Feeding the Nation.
Fighting without flying" and its supporting activity plan.
Following an introduction from one of the wider volunteer cadre. the Spencer West
Foundation was very happy to donate this sum for the Specif￿ purpose of subsidising
educational group travel co*s to 0￿ museum.
Fun
The Restricted Heritage Asset Fund represents the cost of heritage assets acquired from
re￿ricted funds. There has been no expenditure from this fund in 202412025.
13 UNRESTrICTED FUNDS (ofthe Group and the tharlty)
2025
2024
Unrestricted funds as at 1 April
Net movement in unrestricted funds
1001.850
35208
Z06Z521
(60,677)
Unrestricted funds as at 31 March
2,037,058
2.001.850
Stow Maries Great War Aefodrome- site
freehold
Other fixed assets & stock
Cash and cash*quivalent assets
1,795,630
1.794630
65.185
176,243
78,812
727.408
1037.058
2.001.850
14 ANALYSIS OF GROUP NEf ASSEfs BEfwEEN FUNDS
Funts
Funds Funds
At at 31 Maréh 2025
Inlangible fixed assets
Tangible fixed assets
Heritage assets
Current assets - stock
Current assets - debtors
Currerrt assets -' cash ai bank and in hand
Current liabilities
Long-term liabilities
1.809.273
41.545
9.996
42.606
164.131
{30.494)
1,809,273
51,292
9.996
42.606
215,767
(30.494)
9.747
51,636
Net assets at 31 March 2025
2.037.058
61383 2.098,441
281Page
Reglst¢r•d CW 1151099

STOW MARIES GREAT WAR AERODROME LIMrrED
A Ch•rli•bh C•mpany Llffllled by Guorant••
Y••r End•d 3111 March 2025
15 AMOUNTS RECEIVABLEIINDER OPERATNG LEASES
The charttable company and Group's minimum future rental income is as follows:
2025
2024
Receivable within 1 year
503
503
Located on Ihe Stow Maries site is a property. '8road Acres.. which has a secured tenant in
residence on a regulated tenancy. Under the regulated tenancy. the tenant is paying a fair
rent. set by a rent officer at the Valuation Office Agency. This rent is payable in monthty
instalments of £503. The lenant is only required to glve one month's notice to sever the
tenancy: hence, at any point in tirne, the minimum fulufe refflal is £503.
16 FINANCIAL COMMITMENTS
The Charity employs the services of architects and contractors to deliver the building
restoration works outlined in Section 2 of the Trustees, Report. The form of contract used to
regulate the pfovision of these services is the. JCT Minoi Works Building Contrath with
Contractors Design. 2016. issued by the Joint Conlract Tribunal. Undet the te(ms of this JCT
contract. Ihere is no obligation, at any point in time, for the Charity to pay any cO￿S beyond
Ihe total value of work properly executed and the cost of materials or goods ordered for t
works. As at 37 March 2025, all such costs were recognised in these FIn￿CIal StatemeMs,
and there were no additional financial commitrnents (2024: none)..
17 RELATED PARMES
SMGWA is eonirolled by its Board of Trustees which comprises seven Trustees. No member
of the Board of Trustees receives remuneration from the company. and rM)ne had expenses
reimbursed (2024: £nil). All Trustees are required to declare wential conflicts of interest
ai meetings of the Board and its sutscommittees.
The trading activities of the Charity are carried out through a vAK)lty owned subsidiary, SMGWA
Trading Limited. All the profits generated by SMGWA Trading Limited are gift aided to the
Charity (ref- N(rte 9 to these Financial Statements). During the course of the year the Charity
recharged to SMGWA Trading. on an ami's length basis, support Costs of £79.746 (2024:
£88,379). A balance of £25.743 (2024: £40.878) was owing by SMGWA Trading at the year
ènd.
SMGWA Trading Limiterfs Board of Directors comprises three Directors. two of whom are also
Trustees of the Charity. None of the Directors of SMGWA Trading Limited received any
remuneration from SMGWA Trading Limited during the year (2024". none) and none had
expenses reimbursed to them (2024: none).
291Page
Ruglstw•d Charlty No. 1151099

row MARIES GREAT WAR AERODROME LIMtTED
Year Erid•d 31￿ Mar¢h 2025
18 COMPARATIVE CONSOUDATED STATEklEKfoF FINANCIAL ACTivrriES (Incbjdlng
Ywr ended 31 Mar¢h 2024
fvnds
Total
Income from.
Charitable activities
Tfading activities
Donations & legacies
InVe￿MentS
Rents receivable
Interest receivable
23.016
763.938
4.606
49.772
73.388
763.938
4.606
6.782
2554
6,782
2,554
Tthal income
201.496
49.772
251,268
Expenditure on:
Charltable activilies
Trading activities
Investment management costs
72Z637
139.020
570
2Z603
145.240
139.020
510
Total expenditure
262.167
22,603
284.770
Net income / (expenditure)
before transfers
(60.671)
27,169
(33,502)
Transfers between funds
Net movement in funds
(60,671)
Z062521
27.769
(33.502)
Totsl fvnds brought forward
49.195
2111.716
Total funds carried foThYard
ZOO7,850
76.364
2078,214
301Page
Rogl•t•rnl No. 1151099