REGISTERED COMPANY NUMBER: 02704659 (England and Wales)
REGISTERED CHARITY NUMBER: 1022810
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
FOR
WILLESBOROUGH WINDMILL TRUST
Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG
WILLESBOROUGH WINDMILL TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
----- Start of picture text -----
Page
Reference and Administrative Details 1
Report of the Trustees 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 17
----- End of picture text -----
WILLESBOROUGH WINDMILL TRUST
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2022
TRUSTEES |
Mrs C J Drury (Treasurer) |
|
J R White |
|
C S George |
|
A D Terry |
|
E C Crouch |
|
Ms F Brann (appointed 7/10/2021) |
COMPANY SECRETARY |
Ms M Burge |
REGISTERED OFFICE |
Willesborough Windmill Trust |
|
Mill Lane |
|
Willesborough |
|
Ashford |
|
Kent |
|
TN24 0QG |
REGISTERED COMPANY |
02704659 (England and Wales) |
NUMBER |
|
REGISTERED CHARITY |
1022810 |
NUMBER |
|
INDEPENDENT EXAMINER |
Gibbons Mannington & Phipps LLP |
|
Chartered Accountants |
|
82 High Street |
|
Tenterden |
|
Kent |
|
TN30 6JG |
BANKERS |
CafCash Limited |
|
Kings Hill |
|
West Malling |
|
Kent |
|
ME19 4JQ |
Page 1
WILLESBOROUGH WINDMILL TRUST (REGISTERED NUMBER: 02704659)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31March2022.The trustees
haveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
ThepreservationofWillesboroughWindmillforthebenefitofthegeneralpublicandinparticularfor the
residents of the county of Kent,
The working name of the Trust is 'Ashford's Industrial Heritage Museum'.
Public benefit
TheTrusteesconfirmthattheyhavereferredtotheguidancecontainedintheCharity Commission's
generalguidanceonpublicbenefitwhenreviewingtheTrust'saimsandobjectivesandinplanning future
activities.
ACHIEVEMENT AND PERFORMANCE
Review of the business, incorporating main activities and main achievements and plans for the future
Theyear2021-2022hasagainbeenachallengingtimeforWillesboroughWindmill.TheMillhas been
openforsmallpartytours,wedding/civilpartnershipceremoniestookplaceobservingall necessary
restrictionsandthetearoomoperatedacceptingpaymentsmainlybycardandtablecoveringshave been
replacedwithcolourfulmattoilclothwhichcanbeeasilycleanedandsanitisedbetweeneachuse; all
socialdistancingrecommendationsandnecessaryprecautionswereobserved.Alimitednumberof social
eventstookplace.ThisofcoursehadadetrimentalimpactontheincomeoftheMillandall available
Covidsupportgrantsweresoughtandreceived.AshfordBoroughCouncilwerehighlyefficient in
operatingtheCovidgrantsystemandcontinuedtheirownsupportwithmaintenancefund and
operational grants. It is hoped that the Mill will now be able to resume full normal operation.
OurMillwright,PaulKemp,haskeptthemillrunningwithregularmaintenancechecks;volunteers have
tendedtothegroundsandplanting;socialdistancingregulationswerealwaysobserved;ourthanksgo to
allthosewhohavegivenfreelyoftheirtime.Grainhasbeenmilledandsoldtothepublicinseveral local
Farm Shop outlets including the Mill.
ThetenantoftheflatattheMillhasassistedwithminormaintenanceandhascaredfortheMill cats;
sadly, one of the cats passed away in January 2022 and is missed by all.
DuringtheyearthesmockandcapoftheMillwasre-paintedbyateamofspecialistpainters accessing
the full heights. Our thanks go to them for their excellent work (and bravery).
It is planned to fully re-open the Mill on April 2nd, 2022.
Duringtheyearwehopetobeabletodevelopourheritagefieldandfinishtherebuilding of
WillesboroughlevelcrossingsignalboxandgatesandstarttherebuildingoftheKentish ragstone
mortuary building rescued from Willesborough Cemetery.
Weddings and Civil partnership ceremonies have fully re-commenced.
Willesborough Windmill will continue to observe all Covid precautions as recommended.
Willesborough Windmill also participated in the Wheels of Time initiative
Thisisaschemesetupbyaconsortiumoforganisationstoenableyoungpeopletodiscover Kent's
museumsandheritagesites,whilstcollectingindividualbadgesalongtheway.Participantscanvisit any
ofthemuseumsandheritagesitesshownontheRoamin'Rex'smapandcollectoneofthe different
badges at each one. For 2022 there are 53 participants.
Page 2
WILLESBOROUGH WINDMILL TRUST (REGISTERED NUMBER: 02704659)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Fundraising events planned for 2022 include: -
-
Coffee morning on 7th April
-
Frock Up cream tea and Fashion Show on 22nd April
-
Norman Cycles Club Day 22nd May and 2nd October
-
Teddy Bear's Picnic on 5th June
-
Musical Evenings on 25th June and 9th October
-
Local Radio Hams on 31st July
-
Heritage and Craft Fair on 14th August
-
Companions Dog Show 29th September
-
Halloween fun on 30th October
-
Christmas Coffee Morning on 8th December
-
Carol concert in Courtyard on 17th December
All the Trustees and volunteers are looking forward to a successful 2022.
FINANCIAL REVIEW
Financial review
Incomefortheyearamountedto£34,319(2021:£33,958andexpendituretotalled£58,125 (2021:
£18,026).Thisresultedinadeficitfortheyearof£23,806(2021:15,932-surplus)andnetfundsat 31
March 2022 of £23,223 (2021: £47,030).
Reserves policy
TheBoardofManagementhavereviewedthegeneralreservesheldbythecharityandfeelthatthey are
not excessive.
Duringtheyear,TheBoardofManagementhavereviewedthereservespolicyandfeelthatthe general
reservesshouldrepresentatleastoneyear'sexpectedsupportcostswhichwouldamountto £2,400
(2021:£2,400).At31March2022unrestrictedreservesamountedto£16,070(2021: £2,569).
MaintenancecostsaremainlycoveredbytheAnnualMaintenancegrantfromAshfordBorough Council
withotheressentialcostscoveredbyperiodicdonationsfromWillesboroughWindmillEnterprisesLtd and
Friends of Willesborough Windmill.
Designatedfundsat31March2022amountedto£nil(2021:£38,000)andfurtherdetailscanbe found
on page 17.
Restrictedfundsat31March2022amountedto£7,153(2021:£6,461)andfurtherdetailscanbe found
on page 16.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimited company,
limited by guarantee, as defined by the Companies Act 2006.
Page 3
WILLESBOROUGH WINDMILL TRUST (REGISTERED NUMBER: 02704659)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
WillesboroughWindmillTrustwasincorporatedasacompanylimitedbyguarantee,exemptunder section
30,andnothavingasharecapitalundertheCompaniesAct1985on7April1992asamended 13
January 2021 and is a registered charity, number 1022810.
Governance and management
TheBoardofManagementofWillesboroughWindmillTrustareresponsibleforthegeneralcontrol and
managementoftheadministrationofthecompany.TheaffairsofWillesboroughWindmillTrustshall be
managedbytheBoardofManagement.ThenumberofmembersoftheBoardshallnotbelessthan two
nor more than eight.
The members of the Board of Management during the year were as follows :
C Beorge J White
A D Terry F Brann (appointed 7/10/21)
E Crouch
C Drury
ThecompanyhasnosharecapitalandthemembersoftheBoardofManagementhavenointerestin its
surplus or assets and receive no remuneration.
Appointment of the Board of Management
TheBoardofManagementmayatanytimeappointanyperson(beingamemberoftheTrust)tobe a
memberoftheBoardofManagementeithertofillacasualvacancyorasanadditiontothe existing
membership.
Inaccordancewiththecompany'sArticlesofAssociation,MPAdesandECrouchretirebyrotation from
the Board of Management and, being eligible, offer themselves for re-election.
Pay policy for key management personnel
TheBoardofManagementconsiderthattheycomprisethekeymanagementpersonnelofthecharity in
chargeofdirectingandcontrolling,runningandoperatingthecharityonadaytodaybasis.AllBoard of
Management members give of their time freely and no member received remuneration in the year.
Risk management
TheBoardofmanagementhaveexaminedthemajorstrategic,businessandoperationalriskswhich the
charityfacesandconfirmthatsystemshavebeenestablishedtoenablethecharitytolessenor mitigate
those risks.
PhysicalrisksattheMillhavebeenassessedandstepstakentomitigatethesewherepossible.TheMill is
ofcoursefullyinsured.TheMillisequippedwithfireextinguishersandsmokedetectors,good lighting
andemergencylighting.VisitorstotheMillarealwaysaccompaniedbyatrainedMillGuide. Risk
assessments have been carried out as necessary to define mitigation.
Withregardstofinancialrisks,theFriendsofWillesboroughWindmill,inconjunctionwiththeTrust, open
theMillforsevenmonthsofeachyearandholdeventstoraiseadditionalfunds.Theyalsooperate a
smallcaféonsite.TheseactivitieshelpbridgethegapbetweentheCouncilGrantandthecost of
repairs/refurbishment of the Mill. Where possible other Grants are obtained to carry out specific projects.
TheBoardofManagementhavereviewedtherisksassociatedwithCovid-19andhaveputinplace safety
measures to ensure National Guideline will be followed.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Thetrustees(whoarealsothedirectorsofWillesboroughWindmillTrustforthepurposesof company
law)areresponsibleforpreparingtheReportoftheTrusteesandthefinancialstatementsin accordance
withapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerally Accepted
Accounting Practice).
Page 4
WILLESBOROUGH WINDMILL TRUST (REGISTERED NUMBER: 02704659)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyearwhichgive a
trueandfairviewofthestateofaffairsofthecharitablecompanyandoftheincomingresources and
applicationofresources,includingtheincomeandexpenditure,ofthecharitablecompanyforthat period.
In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewith reasonable
accuracyatanytimethefinancialpositionofthecharitablecompanyandtoenablethemtoensure that
thefinancialstatementscomplywiththeCompaniesAct2006.Theyarealsoresponsiblefor safeguarding
theassetsofthecharitablecompanyandhencefortakingreasonablestepsfortheprevention and
detection of fraud and other irregularities.
Approved by order of the board of trustees on 16 December 2022 and signed on its behalf by:
Ms M Burge - Secretary
Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
WILLESBOROUGH WINDMILL TRUST
Independentexaminer'sreporttothetrusteesofWillesboroughWindmillTrust ('the
Company')
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 March 2022.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act
2006 ('the 2006 Act').
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16 of
the2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your
charity'saccountsascarriedoutunderSection145oftheCharitiesAct2011('the2011Act').In carrying
outmyexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionunder Section
145(5) (b) of the 2011 Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentionin connection
with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
Samantha Whiting FCA
Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG
19 December 2022
Page 6
WILLESBOROUGH WINDMILL TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
Unrestricted
Restricted
fund
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
10,200
7,000
Investment income
3
3,952
-
Other income
4
13,167
-
Total
27,319
7,000
EXPENDITURE ON
Charitable activities
5
The Preservation of the Willesborough
Windmill for the benefit of the general
public.
51,817
6,308
NET INCOME/(EXPENDITURE)
(24,498)
692
RECONCILIATION OF FUNDS
Total funds brought forward
40,568
6,461
TOTAL FUNDS CARRIED FORWARD
16,070
7,153 |
2022
Total
funds
£
17,200
3,952
13,167
34,319
58,125
(23,806)
47,029
23,223 |
2021
Total
funds
£
9,300
3,607
21,051 |
|
|
33,958 |
|
|
18,026 |
|
|
15,932
31,097 |
|
|
47,029 |
The notes form part of these financial statements
Page 7
WILLESBOROUGH WINDMILL TRUST (REGISTERED NUMBER: 02704659)
BALANCE SHEET 31 MARCH 2022
Unrestricted
Restricted
fund
funds
Notes
£
£
FIXED ASSETS
Tangible assets
9
135
-
Investments
10
1
-
136
-
CURRENT ASSETS
Debtors
11
1,222
-
Cash at bank
17,346
7,153
18,568
7,153
CREDITORS
Amounts falling due within one year
12
(2,634)
-
NET CURRENT ASSETS
15,934
7,153
TOTAL ASSETS LESS CURRENT
LIABILITIES
16,070
7,153
NET ASSETS
16,070
7,153
FUNDS
13
Unrestricted funds
Restricted funds
TOTAL FUNDS |
2022
Total
funds
£
135
1
136
1,222
24,499
25,721
(2,634)
23,087
23,223
23,223
16,070
7,153
23,223 |
2021
Total
funds
£
159
1
160
4,002
45,889
49,891
(3,022)
46,869
47,029
47,029
40,568
6,461
47,029 |
|
|
|
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006
for the year ended 31 March 2022.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year
ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 8
WILLESBOROUGH WINDMILL TRUST (REGISTERED NUMBER: 02704659)
BALANCE SHEET - continued 31 MARCH 2022
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
16 December 2022 and were signed on its behalf by:
J R White - Trustee
The notes form part of these financial statements
Page 9
WILLESBOROUGH WINDMILL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'Accountingand Reporting
byCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheir accounts
inaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancial Reporting
StandardapplicableintheUKandRepublicofIreland'andtheCompaniesAct2006.The financial
statementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of
investments which are included at market value.
Group accounts exemption
ThefinancialstatementscontaininformationaboutWillesboroughWindmillTrustasan individual
companyanddonotcontainconsolidatedfinancialinformationastheparentofagroup. The
charityisexemptunderSection399(2A)oftheCompaniesAct2006fromtherequirements to
prepare consolidated financial statements.
Judgements and key sources of estimation uncertainty
Accountingestimatesandjudgementsarecontinuallyevaluatedandarebasedon historical
experienceandotherfactors,includingexpectationsoffutureeventsthatarebelievedto be
reasonable under the circumstances. There are no areas of judgment or key estimations.
Useful economic lives of tangible assets
Theannualdepreciationchargefortangibleassetsissensitivetochangesintheestimated useful
economiclivesandresidualvaluesoftheassets.Theusefuleconomiclivesandresidualvalues are
reassessedannually.Theyareamendedwhennecessarytoreflectcurrentestimates,based on
technologicaladvancement,futureinvestments,economicutilisationandthephysicalcondition of
the assets.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.
VoluntaryincomeincludingdonationsandgiftsisincludedintheStatementofFinancial Activities
when receivable.
Investment income is included when receivable.
RentalincomeisincludedintheStatementofFinancialActivitiesintheyearinwhichit is
receivable.
IncomefromgrantsisincludedintheStatementofFinancialActivitiesintheyearinwhichit is
receivable.
Governmentgrantsarerecognisedatthefairvalueoftheassetreceivedorreceivablewhen there
isreasonableassurancethatthegrantconditionswillbemetandthegrantswillbereceived. A
grantthatspecifiesperformanceconditionsisrecognisedinincomewhenthe performance
conditionsaremet.Whereagrantdoesnotspecifyperformanceconditionsitisrecognised in
incomewhentheproceedsarereceivedorreceivable.Agrantreceivedbeforethe recognition
criteria are satisfied is recognised as a liability.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.
continued...
Page 10
WILLESBOROUGH WINDMILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES - continued
Expenditure
Charitableexpenditurecomprisesthosecostsincurredbythecharityinthedeliveryofits activities
andservicesforitsbeneficiaries.Itincludesbothcostsallocateddirectlytosuchactivities and
those costs of an indirect nature necessary to support them.
Governancecostsincludethoseincurredinthegovernanceofthecharityandare primarily
associated with constitutional and statutory requirements.
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.
Short leasehold Improvements- Straight line over 10 years
Equipment, Fixtures & Fittings- 15% on reducing balance
Donated assets- 15% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the
charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular
restricted purposes.
Designatedfundsrepresentfundssetasidebythedirectorsforspecificprojects.The designated
fundbalancehasbeenrepresentedtoensurethatfundbalancestatedaccuratelyreflects the
designation policy adopted by the Trustees.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Debtors and creditors receivable/payable within one year
Debtorsandcreditorswithnostatedinterestrateandreceivableorpayablewithinoneyear are
recorded at transaction price.Any losses arising from impairment are recognised in expenditure.
Going Concern
ThefinancialstatementshavebeenpreparedonagoingconcernbasisastheTrusteesbelieve that
nomaterialuncertaintiesexist.TheTrusteeshaveconsideredtheleveloffundsheldand the
expectedlevelofincomeandexpenditurefor12monthsfromauthorisingthese financial
statements.Thebudgetedincomeandexpenditureissufficientwiththelevelofreservesfor the
charitytobeabletocontinueasagoingconcern.TheTrusteeshaveputinplaceplansto mitigate
risksarisingfromCovid-19.Thecharityhasutilisedgovernmentmeasureswhichhave been
introduced to assist through the current crisis, such as the Small Business Grant Fund.
continued...
Page 11
WILLESBOROUGH WINDMILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
2. |
DONATIONS AND LEGACIES |
|
|
|
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Donations |
|
8,200 |
300 |
|
Grants |
|
9,000 |
9,000 |
|
|
|
17,200 |
9,300 |
|
Grants received, included in the above, are as follows: |
|
|
|
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Ashford B C -Maintenance of the Windmill |
|
7,000 |
7,000 |
|
Ashford B C- Administrative costs |
|
2,000 |
2,000 |
|
|
|
9,000 |
9,000 |
3. |
INVESTMENT INCOME |
|
|
|
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Rents received |
|
3,950 |
3,600 |
|
Deposit account interest |
|
2 |
7 |
|
|
|
3,952 |
3,607 |
4. |
OTHER INCOME |
|
|
|
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Covid grants |
|
13,167 |
21,051 |
5. |
CHARITABLE ACTIVITIES COSTS |
|
|
|
|
|
Direct |
Support |
|
|
|
Costs |
costs |
Totals |
|
|
£ |
£ |
£ |
|
The Preservation of the |
|
|
|
|
Willesborough Windmill for the |
|
|
|
|
benefit of the general public. |
55,480 |
2,645 |
58,125 |
6. |
NET INCOME/(EXPENDITURE) |
|
|
|
|
Net income/(expenditure) is stated after charging/(crediting): |
|
|
|
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Depreciation - owned assets |
|
24 |
29 |
continued...
Page 12
WILLESBOROUGH WINDMILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
7. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2022nor for
the year ended 31 March 2021.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31March2022norfortheyear ended
31 March 2021.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2,300
Investment income
3,607
Other income
21,051
Total
26,958
EXPENDITURE ON
Charitable activities
The Preservation of the Willesborough
Windmill for the benefit of the general
public.
12,888
NET INCOME
14,070
Transfers between funds
1,694
Net movement in funds
15,764
RECONCILIATION OF FUNDS
Total funds brought forward
24,804
TOTAL FUNDS CARRIED FORWARD
40,568
9.
TANGIBLE FIXED ASSETS
Short
Equipment,
leasehold
Fixtures
Improvements
& Fittings
£
£
COST
At 1 April 2021 and 31 March 2022
16,564
3,087
DEPRECIATION
At 1 April 2021
16,564
2,936
Charge for year
-
23
At 31 March 2022
16,564
2,959
NET BOOK VALUE
At 31 March 2022
-
128
At 31 March 2021
-
151 |
Restricted
funds
£
7,000
-
-
7,000
5,138
1,862
(1,694)
168
6,293
6,461
Donated
assets
£
500
492
1
493
7
8 |
Total
funds
£
9,300
3,607
21,051
33,958
18,026
15,932
-
15,932
31,097
47,029
Totals
£
20,151
19,992
24
20,016
135
159 |
Total
funds
£
9,300
3,607
21,051 |
|
|
|
33,958 |
|
|
|
18,026 |
|
|
|
15,932
- |
|
|
|
15,932
31,097 |
|
|
|
47,029 |
continued...
Page 13
WILLESBOROUGH WINDMILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
9. TANGIBLE FIXED ASSETS - continued
Shortleaseholdimprovementsamountingto£7,683,representimprovementstotheWindmill prior
tothegrantingofanew25yearleaseon1April2002.Theyhavebeenwrittenoffoverthelife of
the previous lease.
Additionalimprovements,totalling£8,881,aretobewrittenoffoveranexpectedusefullifeof 10
years.
10. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
|
|
Unlisted |
|
investment |
|
£ |
MARKET VALUE |
|
At 1 April 2021 and 31 March 2022 |
1 |
NET BOOK VALUE |
|
At 31 March 2022 |
1 |
At 31 March 2021 |
1 |
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the
following:
Willesborough Windmill Enterprises Ltd
Registered office:
|
Registered office: |
|
|
|
|
|
% |
|
|
|
Class of share: |
holding |
|
|
|
Ordinary |
50 |
|
|
|
|
|
31/3/22 |
31/3/21 |
|
|
|
£ |
£ |
|
Aggregate capital and reserves |
|
3,487 |
4,557 |
|
Profit for the year |
|
1,070 |
1,304 |
11. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Other debtors |
|
- |
2,170 |
|
Prepayments |
|
1,222 |
1,832 |
|
|
|
1,222 |
4,002 |
continued...
Page 14
WILLESBOROUGH WINDMILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
Accruals and deferred income
13.
MOVEMENT IN FUNDS
At 1/4/21
£
Unrestricted funds
General fund
40,568
Restricted funds
Ashford Borough Council Maintenance
Fund
3,732
NHMF Lottery Fund
2,729
6,461
TOTAL FUNDS
47,029
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
27,319
Restricted funds
Ashford Borough Council Maintenance
Fund
7,000
TOTAL FUNDS
34,319
Comparatives for movement in funds
Net
movement
At 1/4/20
in funds
£
£
Unrestricted funds
General fund
24,804
14,070
Restricted funds
Ashford Borough Council Maintenance
Fund
1,870
1,862
NHMF Lottery Fund
4,423
-
6,293
1,862
TOTAL FUNDS
31,097
15,932 |
2022
2021
£
£
2,634
3,022
Net
movement
At
in funds
31/3/22
£
£
(24,498)
16,070
692
4,424
-
2,729
692
7,153
(23,806)
23,223
Resources
Movement
expended
in funds
£
£
(51,817)
(24,498)
(6,308)
692
(58,125)
(23,806)
Transfers
between
At
funds
31/3/21
£
£
1,694
40,568
-
3,732
(1,694)
2,729
(1,694)
6,461
-
47,029 |
|
|
continued...
Page 15
WILLESBOROUGH WINDMILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Ashford Borough Council Maintenance
Fund
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
26,958
(12,888)
14,070
7,000
(5,138)
1,862
33,958
(18,026)
15,932 |
|
|
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1/4/20
in funds
£
£
Unrestricted funds
General fund
24,804
(10,428)
Restricted funds
Ashford Borough Council Maintenance
Fund
1,870
2,554
NHMF Lottery Fund
4,423
-
6,293
2,554
TOTAL FUNDS
31,097
(7,874) |
Transfers
between
At
funds
31/3/22
£
£
1,694
16,070
-
4,424
(1,694)
2,729
(1,694)
7,153
-
23,223 |
Transfers
between
At
funds
31/3/22
£
£
1,694
16,070
-
4,424
(1,694)
2,729
(1,694)
7,153
-
23,223 |
|
|
7,153 |
|
|
23,223 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
Unrestricted funds
General fund
Restricted funds
Ashford Borough Council Maintenance
Fund
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
54,277
(64,705)
(10,428)
14,000
(11,446)
2,554
68,277
(76,151)
(7,874) |
|
|
TheAshfordBoroughCouncilMaintenanceFundisforthepurposeofmaintenanceofthe Windmill.
£7,000 is received each year, for 25 years, from Ashford Borough Council.
TheLotteryFundisrestrictedtothepurchaseofnewsweepsandatotalof£35,000was initially
awarded.
continued...
Page 16
WILLESBOROUGH WINDMILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
14. RELATED PARTY DISCLOSURES
CertainmembersofthecompanyarealsomembersofTheFriendsofWillesboroughWindmill. Any
surplusarisingfromthetradingactivitiesofTheFriendsofWillesboroughWindmillisdonated to
the company in accordance with The Friend's Rules.
During the year £nil (2021: £nil) was received from The Friends of Willesborough Windmill.
CertainmembersofthecompanyarealsodirectorsofWillesboroughWindmillEnterprisesLtd. Any
surplusarisingfromthetradingactivitiesofWillesboroughWindmillEnterprisesLtdisgiftedto the
company.
During the year £8,000 (2021: £nil) was received from Willesborough Windmill Enterprises Ltd.
15. COMPANY STRUCTURE
Thecompanyisacompanylimitedbyguaranteeandnothavingasharecapital.Everymember of
thecompanyundertakestocontributeinawindingupasumnotexceeding£1whilsttheyare a
member,orwithinoneyearafterceasingtobeamember,towardsdebtsandliabilities contracted
beforeceasingtobeamember.AllmembersofthecompanyarealsomembersoftheBoard of
Management.
16. DESIGNATED FUNDS
ThedesignatedfundforMillPaintingworkrepresentsfundssetasideforthecyclicalpaintingof the
Windmill. The five year cycle of mill painting started in 2018, this was completed in 2021/22.
During the year designated funds of £38,000 were used towards mill painting costs of £37,356.
In two years the next cycle of mill painting will commence and funds will be put aside each year.
Page 17