2021-12-31-accounts

2021 Report to Members

Once again the start of the year was overshadowed by Covid and in the event we were not permil 17th May. A lot of effort had to go into preparing the site for visitors to sa>sfy the health and safety requirements to the sa>sfac>on of the local council. As expected, the early weeks aHer reopening were very quiet and without the government grants received it would have been impossible to survive. However, with foreign travel difficult we were able during the summer months to benefit from an increase in visitors to the Island. By the end of the year, there had been a total of 6678 visitors, an increase of 25% on 2020 but s>ll 20% less than 2019. By contrast in the first 6 months of 2022 we have already had 3000 visitors and the main season is s>ll to come.

Armoured Personnel rides have not been possible for a couple of years partly due to Covid and partly due to maintenance required to the vehicle. During the Covid periods, Ginge West decided to sell his vehicle and fortunately it has been purchased by one of our staff Will Compton. By the end of 2020 work was s>ll progressing on the vehicle with a view to recommencing rides in 2022.

There were no major addi>ons to the Museum during 2021 although constant improvements and minor altera>ons were made as the year progressed in an ang for repeat visitors. We did however have a major dona>on of items from a family in Woong reassembly in its new home.

At the beginning of December, Andy Fisher handed back his workshop to the Charity and took the major step of moving to a remote Sco\sh island. We wish him and Maria well in their new life. The workshop is temporarily sub let but it is intended that during 2022 it will become a fully opera>onal workshop for the Charity.

Once again, the Charity was well supported by the government and a total of £51925.78 was received in grants and furlough payments. Whilst the final accounts are yet to be inspected by the Charity Commission appointed inspector, a draH version is a<ached to this report.

We promised an update regarding the lease posi>on and we are pleased to report that following the sad death of Owen Hinchliffe, Jon Hinchliffe the surviving landowner was able to find >me to ang at which he has agreed that the Charity should have a new lease for 490 Newport Road Cowes. Subject to >me constraints, it was agreed that if possible a new lease will be in place by 1st January 2023. Nego>a>ons will commence shortly and the members will be kept informed of any major developments.

	STATEMENT OF PROFIT AND LOSS FOR THE PERIOD 1.1.2021 TO 31.12.2021	STATEMENT OF PROFIT AND LOSS FOR THE PERIOD 1.1.2021 TO 31.12.2021	STATEMENT OF PROFIT AND LOSS FOR THE PERIOD 1.1.2021 TO 31.12.2021	STATEMENT OF PROFIT AND LOSS FOR THE PERIOD 1.1.2021 TO 31.12.2021	STATEMENT OF PROFIT AND LOSS FOR THE PERIOD 1.1.2021 TO 31.12.2021	STATEMENT OF PROFIT AND LOSS FOR THE PERIOD 1.1.2021 TO 31.12.2021
		WMAHM CHARITY 1159529
	INCOME
	ENTRY FEES		£53862
	RETAIL SALES		£23693
	RENTS RECEIVED		£22570
	RIDE RECEIPTS		£3837
	DONATIONS RECEIVED		£12136
	OTHER INCOME		£28000
	TOTAL			£144098
	OPENING STOCK		£973
	ADD PURCHASES		£8478
	DEDUCT CLOSING STOCK		£1557
	COST OF GOODS SOLD			£7894
	EXPENSES
	ADVERTISING AND MARKETING		£2621
	RENT		£30240
	STAFF AND VOLUNTEER COSTS		£21493
	EQUIPMENT LEASING		£2033
	REPAIRS AND MAINTENANCE		£7256
	OFFICE EXPENSES		£975
	INSURANCE		£1772
	FUEL AND VEHICLE MAINTENANCE		£856
	SUNDRIES		£218
	PROFESSIONAL FEES		£7881
	RATES		£51
	UTILITIES		£8184
	CLEANING		£654
	FINANCIAL CHARGES		£757
	BAD DEBTS		£622
	DEPRECIATION		£800
	TOTAL EXPENSES			£86413
	NET PROFIT			£49792

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INSPECTORS REPORT AND CERTIFICATION AWAITED. DOCUMENTS IN POSSESSION OF INSPECTOR AND NO CONCERNS RAIOSED