THE KEW BRTDGE ENCINES TRUST AND WATER SUPPLY MUSEUM LTD {trddiDg as "London Museum of Watet & Steam") FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 COLLARDS Chartered Acfounints &9 Ed¢ll Sireet KinEStOTr-Upon-Thmes Surrty KTI IBQ lllwlll ACEHLWY" IW1W023 COMPANIES HOUSE AcD4T)l. 3010912023 COMPANIES HOUSE A16
142
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THE KEW BRIDGE ENGINES TRU AND WATER SUPPLY MUSEUM LTD (Ir*ding 4s .ndOn Mu5e4ffj ofw4ter & Ste•m") INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Page No. 14 Report of the Tn¢¢5 Report ofthe Ind¢p¢nd¢M Auditors Consolidated StstemeDt of Financial Activiti¢5 10 Col011dated Balance Sheet Company Balance SIKet 12-18 Nffjes to the Financial Statements
THE KEW BIUDGE ENGINLS TRUST AND WATER SUPPLY MUSEUM LTD (trding as"LoDdon Mus¢um ofWter & Steam") COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 21122 Mr Tom Oleary REGISTERED OFFICE: K¢w Bridge Steam Museum Green Dragon lane Brentford Middlesex. TW8 OEN TRUSTEES: Mr Ti)m O'Leary Mr Fwederick Hollom Mr Benjarnin Russell Ms Georgina Salzedo Ms Susan Batchelor Mr Nigel Bames SECRETARY". Mr Frederick Hollom REGISTRATION NUMBER: 1190608 CHARITY NUMBER: 269285 MUSEUM NUMBER: 32 AUDITORS: COLLARDS 5-9 Eden Srreet Kingston-upon-Thames Surrey KTI IBQ
THE KEW BRIDGE ENGINES TRUST AND WATER SUPPLY MUSEUM LTD (¢r4ding 45 "IAbDdon Mus¢vm •fwater & Stsm' REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2022 The Tnlee$ have pleasure in submitting iher annual rewjrt and financial statements for th¢ year ended 31 December 2022. They have adopt&l the provisions of the Ststem¢nt of Recommended Practic¢ appli¢able lo eharities preparing their accounts in aecordance with the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102) {effective l January 2019). OWEcfs OF THE CHARITY Th¢ Trust 1$ estsblished.. To op¢rate and maintain th¢ London Mus¢um of Water and Sieam. in order to advance education of the public in understanding and appreciating the social. economic and technological history of London's wat¢r supply. and the role Clean water played in making London the ¢ity il IS t(NJay. To preserve and con5¢rve for the publi¢ ben¢fiL th¢ 5lte of the Kew Bridge Waterwork4 lis historic buildings and its collection of engirtes and other artefacts SOcIated with the history of London's water supply.. and To educate the public in other subjects of irtdustrial archaeological importan¢ srRUCTURE We are x limited company (no. 1190608). limited by gu8rantee rather than share capital, and registered as a charity (no. 269285). The company's wholly owned subsidiary. Histori¢ St¢arn Lt<L 15 engaged in trading activitie5 of the museum. The trust is Tun by a board of Trustees consisting of Chair. Treasurerlsecretsry. and up to eitht other TnJslee& At the end of 2022. the board ci)n515t¢d of a total of seven ISte¢S. TnEStees have estsblished wmmi¢te¢s for Complianc< Collection4 and Audience5 and Income, and Sustainable Steam to assist in effective managemeni of the charity. Each of the Committees is chaired by a Trust¢e. The TnLStees meet regularly to r¢ceive th¢ reports and recommeftdations of irs Committees and to conduct the business of the Charity- All decisions are taken followtng a vote. Trtee during and sinee the year under Teview were.. C Grist Taylor (Crthair) R1)ed 7 OctoF*r 2022 E Stannard (cchaIr) Resigned 21 July 2022 T O'Leary (Co-chairlchair) Appointed 28 April 2022 H Thorn&% (CTrChair) Appointed 28 April 2022 & resigned 10 July 2023 F Hollom P Roland B Russell G Salzedo S Bat¢h¢lor F Rosso N Bames Resied 7 (knber 2022 Appoinied 28 April 2022 Appointed 28 April 2022 Appointed 28 April 2022 & re5iw)ed 8 August 2022 Apw>inted 22 Augu 2022 Page I
THE KEW BRtDGE ENGtNFS TRUST AND WATER SUPPLY MUSEUM LTD (trading a5 "Londoll Museum of Water & Steam") REPORT OF THE TRUSTEES (CODtined) FOR THE YEAR ENDED 31 DECEMBER 2022 FINANCIAL POSITION The Consolidated Statement of Finan¢i#l Ae¢ivities on page 9 shows a deficit on unrestricted funds of £51,464. This compare5 with a surplus of £45.371 in 2021. Resource5 expended amounted to £319206 compared with £248.756 in 2021. Unrestricted fjjnds at the end Of the yw good At £142.139 and total fijnds at £215,465. SIGNIFICANT EVENTS 2022 w&5 characterised by the first fvll year of opernting after the pandemic. and by change5 in s¢nior leadership in the museum and on the tru5t¢¢ boar(l. The chair of the museum Clar¢ Grist Taylor stood down in early October 2022 and was succeeded by two interim co-chairs from the board. Heather Thomas and Tom O'Leary. Subsequently Mr O'Lwdry became the sole inierim d)air with a view to seeking a n¢w chair by the end of 2023. This decision was tak¢n to provide some stability due to the resttion of th¢ directt>r of the museum which followed thai of the chair. a week later in October 2022, with a leaving date of January 2023. An interim director w&$ successfully recnjiied frorn within the museum. with a success] external carnpaign concludang in April 2023. and the successful candidate for Director of the Museum. Hannah Harte, Starting in June 2023. ' Perforniance for the ye4r was better than forecast. Addiiional income, combined with lower costs meant the museum fjnished the year with an operating loss of -£51,464. a5 opposed to the foret-£9o.7S4. Whilst this was welcome news, the financial posiiion of the mu5eurn remains of significant concern. as these operating losses cannot be sustsined muth b¢yond 2024 depending on the expenditure profil¢. Th¢ financial future for the mus¢um is th¢r¢fore a main focus for the tsustees and for the incoming Director. To achieve sustainability the museum is pursuing a twin track of development funding (trw%ts. foundations etc) and driving up visiior income yield. RESERVES The policy of the Trust tinUeS to be to maintain. as far as possible. unrestricted reserves at a level in excess of £50.000. The Trtl will continu¢ to seek ¢xtern81 funding for all major resloration projeets. and in Ihe light of recent events and successes in revenue fvnd taising will be assessing whether we should Ix airning at a higher lev¢1 of unrestricted reserves to be funded both through trading surpluses and specific grdnt fiJndin8.
THE KEW BRIDGE ENGINLS TRusf AND WATER SUPPLY MUSEUM LTD {trading as "Lotsdon Museum of Water & SttAm"} REPORT OF THE TRUSTELS (continutd) FOR THE YEAR ENDED 31 DECEMBER 2022 RISK MANAGEMENT The risks identified by the Trustees fall under two main headings: i) Operntional Risks The major risk here is to the health and safety of staff. Yolunteers and visitors. There are specific Tisks arising frorn the operaiion of larg¢ mad)inery. pressure vessels and moving vehicles, as well as the more general ones arising from the public opening of amy historic buildtngs. After our experience of the Covid pandemic. we have reviewed and refreshed our protoeol$ should we neeii io ¢los¢ the Museum at short noti¢e, for whatever rejson. The Trust h&5 established a 5pecifi¢ Compliancc Commi¢le¢ to address health and 5afrty. The be advice is SOU1t from Govemment. other Museums and other 51tes opening to the public, and fvnding is secured io deliver any necessary physical ¢hanEes and appropri8t¢ trainin8. Th¢ TTUSt has ¢5tablished a strfifi¢ Complian¢¢ Committee to addre55 h¢alth attd safety, and the Direct(K has specific relevant experience from previous employment. The b¢st advice is sought from Govemment. ottKr Museums and other sltes opening to the public. and funding i5 Seaed to deliver any necessary physical Ghanges and appropria training. li) Financial Risk The Trnst h&8 always been dependent for its finaftcial survival on its operational incorne supplemented by donations from Members and other supporters and grants and fvnding for specific prOjts and purposes. As reported above the museum is rnakirL8 an Olwdting loss which is not sustainable Lwond 2024 and needs to address thi$ a matter of um)ost importance in the corning months. PUBLIC BENEFIT In September 2020, Members adopted a new con5tilulion. whieh irtCOTporat¢s revised Charity Commission approved charitable objects (See above) and r¢inforce5 our commitment to delivering public benefit to, and in association with. our stakeholders and partners. TRUSTEES RESPONSIBILITIES Company Law requires the Trustees to prepare fmancial stalements for each financial year. Under that law the Trustees hav¢ elected to prepare the financial staiernents in aecordanrx with applTeabl¢ law and United Kingdotn Aecoutlting Standar&% (United Kingdom Generally Accepted Accounting Practice), including FinCial Reportin8 Standard 102 -The Financial Reportin8 Standard applicable in th¢ UK and republi¢ of Ireland" Under company law the Trustees must not approve the financial statem¢nts unle55 they are satisfied that they give a true and fair view of the stal¢ of affairs and of the profit or loss of the eompany for that period. In preparing the5¢ financial statements th¢ TrUet$ are r¢quired to: - select suitable a¢¢ounling 11¢1¢5 and apply them consistently. - make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed. subjeci to any maierial departures disc105ed and explained in th¢ financial Matents. - prepare the finan¢ial statements on a going concern basis unless it is inappropriate to pr¢sum¢ that the ¢otnparty will continue in business.
THE KEW BRIDGE ENGINES TRusf AND WATER SUPPLY MUSEUM LTD (Inding as"London Musturn of Water & Sttgm") REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 DECEMBER 2022 TRUSTEFS RFSPONSIBILITIFS (e0*t1•ed) The TTU5t¢es are responsibl¢ for k¢epinE adequate a)UntIng records are sufficient to show and explain the companys transactions and disclose with re&sonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companie5 Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking steps for the prevention and detection of fraud and other irregularitt¢s. STATEMENT AS TO DISCLOSURFS OF INFORMATION TO AUDITORS So far as the Tnjstees are aware. there is no relevant audit infonnation (as defjned by Section 418 of iht Companies Ad 2006) of which th¢ company's auditors are unaware, and the Trustees have taken all the step5 that ought io have been ¢aken in order to make themselves aware of any relevant audit inforn)ation and io establish that ihe company'$ auditOTS are aware of that infomiation. AUDITORS A resolution io re-appoini Collard% auditots will be propsed at the annual Beneral meeting. .This report been prepared in aOrdance with th¢ S¥al provisions of Part 15 of the Cornpanies Act 2006 relatin8 io small eompani¢s. ON BEHALF OF THE TRUSTEES Mr F Hollom - SECREfARY Date.. i/oq/tot3
THE KEW BRIDGE ENGINES TRUST AND WATER SUPPLY MUSEUM LTD (trading *s "L•ndon Museum of Water & Steam") INDEPENDENT AUDITORS, REPORT TO THE MEMBERS ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 OPINION We have audited the financial stslements of Association of The Kew Bridge Engines Trust and Water Supply Museum Ltd {the 'parent charitsble company.) and it's subsidiary (Ihe group) for the year ended 31 December 2022 which comprise the Con501idated Statemertt of Financial Activities, the Consolidated Balance Sheel, company Ba]an¢e Sheet and notes to the financial slatements. including a summary of significant accounting policies. The finan¢ial rewprting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards (Uniied Kingdom Generally Accepted A¢UntIng Practice)- In our opinion the financial statements: give a true and fair view of the state of the group and parent charitable company's affairs as at 31 December 2022 and of its in¢omin8 resources and application of resources, including the group's income and expenditurè. for the year then ended- have been properly prepared in accordance with United Kingdom Generally Ac¢epted AontIng Practice applicable to Smaller Entities- and have been prepared in accordance with the requirements of the Companies Aci 2006 and the Charilies Act 201 BASIS OF OPINION We conducted our audit in accordance with Intemaiional Standards on Auditing (UK) (ISAS (UK)) and applicable Saw. Our resp)nsibilities under ihose Stsndards are further described in Ihe Auditors responsibilities for the audit of the financial ststemenls section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financi ststements in the UK, including the FRC'S Ethi¢a] Standard. and we have fulfilled our oiher ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is Sufficient and appropriate to provide a basi5 for our opinion. CONCLUSION RELATING TO Goif4G CONCERN We have nothing to report in respect of the following matters in relation to which the ISA5 (UK) require us to rep)rt to you where.. the trustees, use of the going concem blS of accounting in the preparation of the financial statements is noi appropriaie- or the trUee$ have not disclosed in the financial statements any identified material uncertainties that may clst significant doubt about the charitable company's ability to continue to adopt the goÈng concern blS of accounting for a period of at le1 twelve months from the date when the finan¢ial staiemenis are auihorised for issue. OTHER INFORMATION The tru51ees are responsible for the other inforniation. The other inforniation comprises the inforniation included in the annual report. other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements doe5 not cover the other inforniation and, except to the extent otherwise explicitly stated in our reporL we do not express any forni of assurance conclusion thereon. Page 5
THE KEW BRIDGE ENGINES TRUST AND WATER SUPPL Y MUSEUM LTD (trading as "London Museum of Water & St¢*m" INDEPENDENT AUDITORS. REPORT TO THE MEMBERS {continued) ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 In connection with our audit of ihe finan¢ial statements, our responsibiliry is to read the other inforniation and, in doing so, consider whether the other information is maierially inconsistent with the financial statemenls or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such Tllaterial in¢onsistencies or apparent material mis5tale1nen we are required to detemiine whether there is a maierial misstatement in the financial siatements or a material misstatemeni of the other infomation. If, bed on the work we have perfomied. we conclude that there is a material misstatement of this other inforniation, we are required to report that fact. We have nothing to report in this regard. OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 21K16 In our opinion, based on the work undertaken in the course of the audil.. the information given in ihe Report of the Trustees for the financial year for which the financial statements are prepared is consistent with rhe financial statements. and - the Report of ihe Trustees been prepared in accordance with applicable legal requirements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit. we have not id¢nlified material misstatements in the Report of the.Trustees. We have nothing to report in respect of the following matters where ihe Companies Aci 2006 requires us to report to you if. in our opinion= adequate accounting records have not been kept or returns adequate for our audit have not been received from brnnches noi visiied by us. or the financial statements are not in agreement with the accounting records and returns. or ¢¢rtain dis¢losure5 of tru5tees' remuneration specified by law are not Tnade,. or we have not received all the InforntIon and explanations we require for our audil. or the trustees were not entitled to prepare ihe financial statements in accordance with the small companies reEime and take advantage of the Small companies exemption from the requiremeni to prepare a StraieEi¢ Report or in preparing the Report of ihe Trustees. RESPONSJBILITIES OF TRUSTEES As explained more fully in the Staiement of Trustees Responsibililie& ihe mjstees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees detemiine is necessary ¢nable the preparation of firw)¢ial thtemenLS thai are free from material missiatemenl whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the group's and charitable company's ability to Continue as a going concern. disclosing, as appl]ble, 31[erS related to going concern and using the going concem basis of ac¢ounting unless rhe tnjstees either intend to liquidate the group and charitable company or to cease operations. or have no realistic alternative bul to do so. Page 6
THE KEW BIUDGE ENGINES TRvsf AND WATER SUPPLY MUSEUM LTD (IrAding a$ .ndOn Museum ofW8ter & Steirn INDEPENDENT AVDITOILS. REPORT TO THE MEMBERS (eontinued) ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 OUR RESPONSIBILITIFS FOR THE AUDIT OF THE FtNAiYCIAL STATEMENT OUT obj¢divcs are to obtsin reasonable a5SUtanc¢ aboui whether th¢ financial statements as a whole are fre¢ from material misstatement. whether due to fraud or error. and to issue a RerA)rt of the Independent Audito that inGludes our opinion. Reawnablc assuTart¢¢ is a high level of assuraD¢e, but is ttot a 8uararhie¢ that art audit conducted in accordance with ISAS {UKI will always deteci a rnaterial misstatement when it exists. M15StaiCnts can arise from fraud or ¢rror and are ¢onsidwed Merial if, sndividua]ly or in the aggregat¢, th¢y could reortablY be expcctcd to influence the economic deci5•Jn5 of users laken on thc basis of these financial statemcnts. W¢ gained an understanding of th¢1¢831 and r¢8ulatory fram¢work wplicable to the company and the industy in which it operaies and, considered ihe risk of acts by Management whi¢h were o)ntrary to appli¢abl¢ laws and regulations, including fraud. We rnade cnquiries of the Directors to obtain further understanding of risks of non- ¢ompltanc¢. We focused on laws ond regulations that could give rise io a material misstatement in th¢ financial agreementof the financial statement disclosures to underlyin8 supwrting documentatÈon- - enquirie5 of mana8¢m¢nt T¢g¥dln8k or suspe¢ied instances of non-cornpliance with laws and regulaiions. - review of minutes of the Board mcelin8S throughout the ycar. and - obtaining an understandingof the control environment in plxe to prevent and detect iTregulariiies. Our audii PToCeduS were de$led to respond to risks of materia] misstrtemeni in the finark¢ial siatements, Teco8nisin8 that the risk of not detecting a material misstsicment due to fraud is higher than the risk of not dde¢ting on¢ re5ultin8 from error, ¥ fraud may involve delib¢rat¢ concealment by. for example. forgery. misTepre5entations or ihrough collusion. There are inheTellt limitations in the audit pr>jUre$ perfomied and the further removed non-compliance with la and rc8ulations is from the tvents and transaction5 Teflectcd in the rjnancial $eMent& the less likely we are io beme aware of IL A fvnh¢r des¢ription of our T¢swJnsibiliti¢s for the audit of the flnancial statements is k)cated on tht Financial Reporting Council's website at www.fr¢.org.uklauditorsTesponsibilities. Tbis description fomis part of OUT Rep)rt of the lTrdepcndent Auditors. Pa8e 7
THE KEW BRIDGE ENCINES TRUST AND WATER SUPPLY MUSEUM LTD (trading as "Lotsdoo Museum ofwattr & SteAm") INDEPENDETrrf AUDITORS. REPORT TO THE MEMBERS (continued) ON THE FINANCIAL STATEMEP4TS FOR THE YEAR ENDED 31 DECEMBER 20n USE OF OUR REPORT This report is made solely to the charitable company's members. a5 a body, in a¢dance with Chapt¢r 3 of Part 16 of the Companies Aet 2006. Our audit work ha5 been widertaken $0 that we might state to ihe thaTitabl¢ WTnpany's TnembeT$ thos¢ rnatt¢rs we are required to state to them in an auditors. report and for no other purpos¢. To the Ojllest extent perniirted by law. we do ty)t accept or 18sume responsibility to anyone other than the charilable Company and the charitable compan5 rnembers 15 a body. for our audil worK for thi5 report. or for th¢ opÈnion5 we hav¢ fonned. onathan Addison FCA (Senior Siatutory Auditor) For and on behalf ofCOLLARDS Chartered A¢courttsThts & Regislered Auditors 5-9 Eden Street Kingston.upon-Thames SUeY KTI IBQ Dated.. 41 15 /1•4 J Page 8
THE KEW BRIDGE ENGINFS TRUST AND WATER SUPPLY MUSEUM LTD (tradSng $"London Museum of Witer & Steam") CONSOLIDATED ATEMEr OF FtNANCJAL ACTIVITIES FOR THE YEAR ENDED JI DECEMBER 2022 UnKstriLted Trading Dcsignated R¢s¢Tirted subsidiary Total 2021 2022 Illcomlllg Re50utteJ tknnaiions bequests and 8rants Membership Rents receivable Admissiotis Gift-aid on season tickets Trading subsidiary SIKIp 5aJc5 Site & fundion strvi¢es Enneering sales Intercst Teceived Insurance ¢laims SMP recovery 16.665 5.110 62.549 79214 5,110 234.355 4,670 88.674 58.795 8.868 114.487 11.208 14,487 12,458 1.250 15.195 6.5(K) 15,195 6,500 127 214 2,943 760 8.884 5.940 250 127 214 2,943 760 6,618 Totsl Imcoming Resounes 246.047 21.695 63.926 331,668 417.063 Re50uTce5 Expended Direct charitable expendiluTe- Restoration and upade Iw¢s Trtding subsidiary.. Shop losi of sales Site & function 5eNces Public opening.. Advert15ing & publicity Site maintenan¢e Reopening ¢osts & ele£triciiy Cos¢ of ga Other expenses.. Payroll costs Renied prortY mwntcnance Tnsurance Business costs 8md bank Charges Rtrtt rtductiort grani IT pdeS D¢preciaiion Bad debts 23.819 25.819 29.172 9.T22 6.936 9,722 6,936 4,819 717 1.169 41,955 103 3,699 9,107 1.8rJ 25.449 710 8.095 10.379 47.527 25,449 44,137 24,193 5.021 46,896 49,843 38,359 12,281 39.908 14.794 3,519 103.711 9,145 11,320 124,176 95.672 22.n4 29,903 24.728 32,540 19.154 26.939 2,637 683 7299 420 7.680 677 .357 Audit fees Leal and profe55ional ftts Financial & sttretarial fees 6.367 2,211 7.611 561 195 671 7,888 2,406 8.282 6.126 180 8,878 Totsl Re50urcts E%pended Trading (kficit of subsidiary 278,033 19,478 41.173 (19,478) 83.333 402.539 352,459 Net IntOlDTngl(Oulgoing) Resourc¢5 b¢for¢ Tr¥n$f¢rs Transfer bemeen fijnds Fund balanc¢s Ught forWd (51,464) (19.407) (70.871) 193.603 50,711 42,022 286,336 221,732 Fumd bai•ntes cthtd forrd 142,139 50.711 22,615 215,465 286.336 Th¢ group tK)t wuired or commcnced any ncw bu5iTLess aaivilies in (h¢ y¢ar and it has no other comprehen5jVt gaitLS or105se5 othcrthan the deficit for year. The notes set outon pages 12 to 18 fomi partof th¢ fin¥Thal Staten Page 9
THE KEW BRIDGE ENGINES TRUST AND WATER SUPPLY MUSEUM LTD (tradine #s "IAndoTr Mwsellm of Watsr & st. CONSOLIDATED BALANCE SHEET FOR THE YEAR E]YDED 31 DECEMBER 2022 2022 2021 No¢e5 FIXED A&SETS: Tangible assets 59.268 62213 CURRENT ASSETS: Stocks Debtors Cash at bank and in hand 5.367 22,902 172.806 6,053 53.191 218.412 201.075 277,656 CREDITORS: Amounis falllng due within ODe y¢aT io 44.878 53.533 NET CURRENT ASSETS 156.197 224.123 NET ASSETS 215.465 286.336 CAPITAL AND RLSERVES: Profit and Loss accounl Restricted fidS Desi8natEd funds 142,139 22.615 50.711 193.603 42,022 50,711 12 215,465 286,336 These financial stat¢rnents haye been w¢par¢d in accordae with th¢ special provisions of Part 15 of the Companie5 Act 2006 relatin8 to small cOmnie& or4 BEHA OF THE BOARD: TO'tAry F Hollom Dale: Th¢ note5 set out on pa8e5 12 to 18 forn) part of these fmancial statem¢nls Pag¢ 10
THE KEW BRIDCE ENGLNES TRUST AND WATER SUPPLY MUSEUM LTD (tradithg as "IA)ndon Museum of Water & Steam") COMPANY BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Notes FIXED ASSETS: Tangibl¢ assets Inve5tmcnt 59,268 100.100 62,213 100.100 159.368 162.313 CURREPIT ASSETS: Debtors Cash at bank and in hand 153.794 172.806 165.291 218.412 326.600 383.703 CREDITORS: Amounts falling due within one year 10 44,878 53,533 NET CiJRRENT ASSETS 281.722 330,170 NET ASSETS 441.090 492.483 CAPITAL AI¥D RESERVES Profit and loss account of the company Restricted Furtds Designaied Funds 367.764 22,615 SO,71 399,750 42.022 50,711 12 441,090 492,483 These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. ON BEHALF OF ThE BOARD: T (YLeary F Hollom The notes ser oui on pages 12 to 18 forni part of these finan¢ial statements Pagell
THE KEW BRtDGE ENGINES TRUST AND WATER SUPPLY MUSEUM LTD {¢r•ding as "London Mwseum of Wa¢¢r & Sie•rn" NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 DECEMBER 2022 Princip41 Aeeountiwg Polieies Si¢7141ory Informatson Kew Bridge Engines Trust & Water Supply Mwum Ltd is a private company> limited by guarantee and registered in England and Wales. The coMpanS registered number and registered office addr¢ss can be found on the Company Information page. Accounling Conventioh The financial statements art prepar¢d on a going Concern b&sis in accordance with the provisions of Section IA "Small EntitiES" of FIrje7a1 Reporting Stsndard 102 Yhe Financial Reporting Stsndard applicable in the UK and Republic of Ireland-. the Companies Act 2006 and the Charities Ch Flow Slalement In the opinion of the TnJst¢¢s the group qualifi¢s as a &811 group and accordingly a cath flow statement is not required. Dtpreelaiion Depreciation is calculaled io write down the WSL less e5tima¢ed residual value. of all tangibl¢ fixed &8sets. which comprise, in the eornpanYs and 0UP 8ecounts, onty equipment used to support museum operaiions over their exed usefijl lives. The rates genually applicable are.. Workshop Plant and machinerylDiesel house improvemenL% Office equipment Furniture Steam lo¢ornotive straight line over SO years straight line over 10 years 330/0 reducing balance basi5 Strdight lin¢ over 10 years straighi line over 30 y¢at3 Invesllnents Investments are included at cost less amounts written off. Profit or losses arising from disposals of flxed asset investments are treatrd as pth of the result from ordinary aciiviti¢s. Siocks Stocks and WOTk in progress 4r¢ valued at the lower of cost and net realisable valu¢. after making due allowance for obsolete and slow moving itans. Limited Liability The company is limited by guarantee and doe5 not have a Share opital. Page 12
THE KEW BRIDGE ENGTNES TRUST AND WATER SUPPLY MUSEUM LTD (¢r4dinE as ,ndOn M5¢¥ of Water & Steam") NOTLS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 21122 3 Operatittg (Defieitysurplus The operatlng (Deficitysurplus is stated fter charging or 2022 2021 Group Amounts pay#ble to the auditOTS in Tespeet of audit services Depr¢¢iatioll 3.510 8,356 2.925 7,299 CompaDy 2022 2021 ATnounts payable to the auditors in reSt of audit services Depreciation 3,510 8.356 2.925 7,299 4 Donations btquests and Grants Designated Restrictrd Unr¢5tricted Funds FUT Funds 2022 2022 2022 Total Total 2022 2021 FJblic Authorities Private Donations 62.549 4.000 12.665 66.549 12,665 188,939 45.416 62.549 16.665 79214 234,355 The charity received £4.000 in grant funding from the local authority a5 part of the Coronavirus support schemes. S Trustees, R¢munera¢ion Ben¢frts During the year no Tn receiv¢d rnleration (21)21- zero) Trustees,, Expenses During the year £76 (2021- £nil) w&5 paid to trust¢¢s for ¢xp¢nses incurred on behalf of the charity. 6 S¢*ff Co$t$ and Numbers 2022 2021 Salaries and wages Social security costs 122,078 2,098 94.888 784 124.176 95.672 The average number of staff employed wos 9 (2021- 6). No employees received emoluments in exc¢ss of £60.000. Pw13
THE KEW BIUDGE ENCINES TRUSfAND WATER SUPPLY MUSEUM LTD Itrnding as"Lindon Mweum of Water & Stexm") No TO THE FINAf4CIAL StATEMENIS FOR THE YEAR ENDED 31 DECEMBER2022 7 Tabble Fixed Asstts Groupand Comp•ny Lasehtrld Steam Plant and FwNtur¢ & Cornpwer ICMotIVe mathi rittin Cosr: Al l January 2022 Additi( 82,399 5&512 33.794 4A696 21831 5.411 244,232 5,411 At 31 Decem2022 82.399 5(512 33.794 4@696 28242 249,643 DEPRECIATION: At l January 2022 ChaTEe foryear 71.745 1298 24.704 1,950 29.763 1.816 37.396 2,127 21831 1.165 186,439 8.356 At 31 Dccemi%r 2022 73.043 26,6Y 31,579 39.523 23.996 194.795 NET BOOK VALUE: Al 31 Dettmlxr 2022 9J56 31.858 1215 7.173 4,246 54,848 At 31 Decemr 2021 10.654 33.808 4,031 9.3(K) 57,793 H¢rita8¢ COST: At l January 2022 Additions 244232 5.41 I 4.420 248.652 5.411 Ai 31 D¢¢%rDb¢r 2022 249.043 4.420 254. DEPRECtATION: At l January 2022 Ch8rge foryear 186,439 8,356 181439 8,356 At 31 DeCemr 2022 194.795 194,795 NET BOOK VALUE: At 31 D¢c¢mb¢r 2022 54.848 4.420 59,268 At 31 2021 57.793 4.420 61213 PBc 14
THE KEW BRIDGE ENGINESTRUST AND WATER SUPPLY MUSEUM LTD (irndig $"L•ndon Mus¢u of Water & Stum") NOTES TO THE FIP4ANCiAL sfATEMEprrs FOR THE YEAR ENDED 31 DECEMBER 2022 8 FSxed Asset InvestmtTrts- Company Goup Undertaking C05t At l Janw 2022 ar¥J 31 December 2022 i}.100 Net Book Valu¢ At 31 De¢¢mber 2022 l(Ml,100 Ai 31 December 2021 loo,100 D¢tsiJs of group undeffakit)8s at the balance slttl daL¢ar¢ as follows.. Collntry of Registration (or JncoTpor¥liott) Cl#s$ Prnportlott Natsre of and Optrtio• of Shr¢ Hdd Business Net Defi¢it for the Year TotAI net Llabilitles N*m¢ Hisioric Sream Enand Limited Ordinary I shaFES TAling 1VitieS (125.525) (19.478) of the museum at Kew Bridge Pumping Stsiioo 9 D¢btors- Growp 2022 2021 Trdde debtors Other deor$ 2.775 20.127 7.436 45.755 22,12 5J,191 Debton- CoJnpaDy 2022 2021 Amount foTrm subsidrary Trade debtor5 Other debtors 130,892 2,775 20,127 112,10(1 7,436 45,755 153.794 165.291 Page 15
THE KEW BRIDGE ENGINES TRUST AND WATER SUPPLY MUSEUM LTD {trgding 4$ "London Mu5¢wm of Water & Stem") NOTFS TO THE FINANCIAL ATEME1yTs FOR THE YEAR ENDED 31 DECEMBER 2022 10 Credltors- Croup Amounts falllng due within one year 2022 2021 Tr&de creditors Taxes and Social Security ATUal$ 28,779 3.382 12.717 30.119 4.026 19,388 44.878 53,533 Creditors- coMnY Arnouots fllitsg due within one ye*r 2022 2021 Trade creditors T&xe5 and Social Security Accruals 28.779 3J82 12.717 30,119 4.026 19,388 44,878 53.533 Page 16
THE KEW BRIDGE ENGIP4LS TRUST AND WATER SUPPLY MUSEUM LTD (tradiDg as "tAbndon Mu5¢um of Water & Steam") NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 11 Restricted Funds Balance oiioir22 Grdntsllncome Expenditure Trdll5frrs Received Incurred b¢tween funds Balance 31112122 EleTtri¢•l Fund 3238 (1,497) 1.741 Collectitrns Fund 1,475 1.013 (1.846) 642 W4ddoTr 3.436 3.436 Brenrford Towers 1665 2.665 Water C•nservtors 1.190 (560) 630 Steam TeamlN47tioDal ttery 1.980 (1.980) Boul¢fjn #nd Watt Model 3.51)0 1.250 (663) 4.087 Hounslow Community Grts FundteaM TeAm 7.577 (9.120) (1,543) Arts Council EnglndlCRn Winter proofing 18233 17.653 (35.886) KielL8t*rt (1272) 5.128 (3,856) Trlplt ExpgTrsio (40) Wild Play GardenlLondoTr Borowgb of Hounslow 28,704 (22,151) 6J53 STEAM Explorers C1brnater Con5erv8tioD Tryst 3.700 (1.615) 2.085 W¥Jrm Sp•eesIndoTr Borough of Hou•slow (3.000) Colleetion Care AIMIPllgrim Trust 3.438 (1.119) 2.319 42,022 63.926 83,333 22,615 Page 17
TIIE KEW BRIDGE ENGINES TRUST AND WATER SUPPLY MUSEUM LTD (trading as "IA)ndoll Museum of Water & Steam") NOTES TO THE FINANCIAL STATEMEiYrs FOR THE YEAR ENDED 31 DECETrtBER 2022 12 Designated Funds Balance Incom¢ Receivedl Designated incurred Expenditure Transfers between funds Balance 01101122 31112122 Tower fund 711 711 Closedowll costs 50.000 50,000 50.711 50,711 13 Analysis of Net Assèts belween funds 2022 Total 2021 Totsl Restricted Designated Unrestricted Tangible fixed assets Current assets Creditors 59,268 127,749 (44.878) 59,268 201,075 (44,878) 62,213 277,656 (53,533) 22,615 50,711 22,615 50,711 142.139 215.465 286.336 14 Individual statement of comprehensive income As pemitted by Se¢tion 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. Page 18