``` 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 ```