``` 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 2024 ``` ## **`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 2024`** **----- Start of picture text -----**
Page
Reference and Administrative Details 1
Report of the Trustees 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 16
**----- End of picture text -----**
``` WILLESBOROUGH WINDMILL TRUST ``` ``` REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2024 ``` |**`TRUSTEES`**|`Mrs C J Drury (Treasurer)`| |---|---| ||`J R White`| ||`C S George`| ||`A D Terry`| ||`E C Crouch`| ||`Ms F Brann`| |**`COMPANY SECRETARY`**|`Ms F Brann`| |**`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 2024`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present theirreportwiththefinancialstatementsofthecharityfortheyearended31March2024.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`** ``` Theyear2023-2024hasbeenasuccessfulyearforWillesboroughWindmill.TheMillhasbeenopen for smallpartytours;wedding/civilpartnershipceremoniestookplace.Thetearoomhasoperated accepting paymentsmainlybycardandtablecoveringshavebeenreplacedwithcolourfulmattoilclothwhich can beeasilycleanedandsanitisedbetweeneachuse;Afullrangeofsocialeventsalsotookplace, all popularandwell-attended.TheFriendsofWillesboroughWindmillwereabletomakea substantial donation to The Trust to finance the operation of the Windmill. ``` ``` IncommonwithallbusinessestheWindmillhasseenanincreaseincostsforenergy,maintenance and forcateringsupplies.Allusersareaskedtobeeconomicalwithenergyusage.Somecateringcosts have been increased. The tenant of the Mill flat assists with minor maintenance and has cared for the Mill cat. ``` ``` OurMillwright,PaulKemp,haskeptthemillrunningwithregularmaintenancechecks;volunteers have tendedtothegroundsandplanting;ourthanksgotoallthosewhohavegivenfreelyoftheirtime. Grain hasbeenmilledandsoldtothepublicinPluckley,GibbetOakandPerryCourtFarmShopsandis also available at the Mill. ``` ``` TheMillwillopenforMillToursfromApriltoOctober,Saturdays,SundaysandBankHoliday Mondays from 2 - 5pm; during July and August it will also open on Wednesdays. ``` ``` Weddings and Civil partnership ceremonies have fully re-commenced and the Mill is a popular venue. ``` ``` CateringissuppliedbyMrsCobbs'KitchenintheBarnwhichhasreceivedmaximum5Stars hygiene ratingfromAshfordBoroughCouncil"ScoresontheDoorsand"recommended"accoladefrom Restaurant Guru. Our thanks go to the voluntary staff who have made this possible. ``` ``` Duringtheyearwehopetobeabletodevelopourheritagefieldandfinishtherebuilding of WillesboroughlevelcrossingsignalboxandgatesandstarttherebuildingoftheKentish ragstone mortuary building rescued from Willesborough Cemetery. ``` ``` Page 2 ``` ``` WILLESBOROUGH WINDMILL TRUST (REGISTERED NUMBER: 02704659) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024`** ``` 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, there are currently 57 participants. ``` ``` Fundraising events planned for 2024 include: - ``` - `Teddy Bear's Picnic on 26th May` - `Heritage and Craft Fair on 11th August` - `Fun Dog Show 26th August` - `Norman Cycles Club Day 22nd September` - `Musical Evenings on 5th and 6th October` - `Halloween fun on 27th October` - `Christmas Coffee Morning on 5th December` ``` All the Trustees and volunteers are looking forward to a successful 2024. ``` ## **`FINANCIAL REVIEW`** ## **`Financial review`** ``` Incomefortheyearamountedto£30,120(2023:£11,795)andexpendituretotalled£22,573 (2023: £14,451).Thisresultedinasurplusfortheyearof£7,547(2023:deficit£2,656)andnetfundsat 31 March 2024 of £28,114 (2023 :£20,567). ``` ## **`Reserves policy`** ``` TheBoardofManagementhavereviewedthegeneralreservesheldbythecharityandfeelthatthey are not excessive. ``` ``` Duringtheyear,TheBoardofManagementhavereviewedthereservespolicyandfeelthatthe general reservesshouldrepresentatleastoneyear'sexpectedsupportcostswhichwouldamountto £2,400 (2023:£2,400).At31March2024unrestrictedreservesamountedto£6,595(2023: £6,396). MaintenancecostsaremainlycoveredbytheAnnualMaintenancegrantfromAshfordBorough Council withotheressentialcostscoveredbyperiodicdonationsfromWillesboroughWindmillEnterprisesLtd and Friends of Willesborough Windmill. ``` ``` Designatedfundsat31March2024amountedto£nil(2023:£nil)andfurtherdetailscanbefound on page 17. ``` ``` Restrictedfundsat31March2024amountedto£21,519(2022:£14,171)andfurtherdetailscan be 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 2024`** ## **`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 George J White A D Terry F Brann 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,CDruryretiresbyrotationfromtheBoard of Management and, being eligible, offers himself 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. ``` ``` Approved by order of the board of trustees on 15 December 2024 and signed on its behalf by: ``` ``` Ms F Brann - Secretary ``` ``` Page 4 ``` ``` INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WILLESBOROUGH WINDMILL TRUST ``` ``` Independentexaminer'sreporttothetrusteesofWillesboroughWindmillTrust ('the Company') ``` ``` IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended 31 March 2024. ``` ## **`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. ``` ``` David Ashby FCCA ACA ``` ``` Gibbons Mannington & Phipps LLP Chartered Accountants 82 High Street Tenterden Kent TN30 6JG ``` ``` 16 December 2024 ``` ``` Page 5 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024`** |`Unrestricted`
`Restricted`
`fund`
`funds`
`Notes`
`£`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
**`15,600`**
**`7,000`**
`Investment income`
`3`
**`7,172`**
**`348`**
**`Total`**
**`22,772`**
**`7,348`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`4`
`The Preservation of the Willesborough`
`Windmill for the benefit of the general`
`public.`
**`22,573`**
**`-`**
**`NET INCOME/(EXPENDITURE)`**
**`199`**
**`7,348`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`6,396`**
**`14,171`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`6,595`**
**`21,519`**|**`2024`**
**`Total`**
**`funds`**
**`£`**
**`22,600`**
**`7,520`**
**`30,120`**
**`22,573`**
**`7,547`**
**`20,567`**
**`28,114`**|`2023`
`Total`
`funds`
`£`
`10,800`
`995`
`11,795`
`14,451`
`(2,656)`
`23,223`
`20,567`| |---|---|---| ``` The notes form part of these financial statements ``` ``` Page 6 ``` ``` WILLESBOROUGH WINDMILL TRUST (REGISTERED NUMBER: 02704659) ``` ## **`BALANCE SHEET 31 MARCH 2024`** |`Unrestricted`
`Restricted`
`fund`
`funds`
`Notes`
`£`
`£`
**`FIXED ASSETS`**
`Tangible assets`
`8`
**`98`**
**`-`**
`Investments`
`9`
**`1`**
**`-`**
**`99`**
**`-`**
**`CURRENT ASSETS`**
`Debtors`
`10`
**`-`**
**`-`**
`Cash at bank`
**`8,062`**
**`21,519`**
**`8,062`**
**`21,519`**
**`CREDITORS`**
`Amounts falling due within one year`
`11`
**`(1,566)`**
**`-`**
**`NET CURRENT ASSETS`**
**`6,496`**
**`21,519`**
**`TOTAL ASSETS LESS CURRENT`**
**`LIABILITIES`**
**`6,595`**
**`21,519`**
**`NET ASSETS`**
**`6,595`**
**`21,519`**
**`FUNDS`**
`12`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|**`2024`**
**`Total`**
**`funds`**
**`£`**
**`98`**
**`1`**
**`99`**
**`-`**
**`29,581`**
**`29,581`**
**`(1,566)`**
**`28,015`**
**`28,114`**
**`28,114`**
**`6,595`**
**`21,519`**
**`28,114`**|`2023`
`Total`
`funds`
`£`
`115`
`1`
`116`
`612`
`21,447`
`22,059`
`(1,608)`
`20,451`
`20,567`
`20,567`
`6,396`
`14,171`
`20,567`| |---|---|---| ``` ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006 for the year ended 31 March 2024. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year ended 31 March 2024 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 7 ``` ## **`WILLESBOROUGH WINDMILL TRUST (REGISTERED NUMBER: 02704659)`** ## **`BALANCE SHEET - continued 31 MARCH 2024`** ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable companies subject to the small companies regime. ``` ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on 15 December 2024 and were signed on its behalf by: ``` ``` J R White - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 8 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ``` NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ``` ## **`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 9 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ``` ## **`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 10 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`** |**`2.`**
**`DONATIONS AND LEGACIES`**
`Donations`
`Grants`
`Grants received, included in the above, are as follows:`
`Ashford B C -Maintenance of the Windmill`
`Ashford B C- Administrative costs`
**`3.`**
**`INVESTMENT INCOME`**
`Rents received`
`Deposit account interest`
**`4.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Direct`
`Costs`
`£`
`The Preservation of the`
`Willesborough Windmill for the`
`benefit of the general public. `
**`20,128`**
**`5.`**
**`NET INCOME/(EXPENDITURE)`**
`Net income/(expenditure) is stated after charging/(crediting):`
`Depreciation - owned assets`|**`2024`**
**`£`**
**`13,600`**
**`9,000`**
**`22,600`**
**`2024`**
**`£`**
**`9,000`**
**`-`**
**`9,000`**
**`2024`**
**`£`**
**`6,963`**
**`557`**
**`7,520`**
`Support`
`costs`
`£`
**`2,445`**
**`2024`**
**`£`**
**`17`**||`2023`
`£`
`1,800`
`9,000`|`2023`
`£`
`1,800`
`9,000`| |---|---|---|---|---| ||||`10,800`|| ||||`2023`
`£`
`7,000`
`2,000`
`9,000`
`2023`
`£`
`900`
`95`
`995`
`Totals`
`£`
**`22,573`**|`2023`
`£`
`7,000`
`2,000`| |||||`9,000`| |||||`2023`
`£`
`900`
`95`| |||||`995`| ||||`2023`
`£`
`20`|| ## **`6. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2024nor for the year ended 31 March 2023. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31March2024norfortheyear ended 31 March 2023. ``` ``` continued... ``` ``` Page 11 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`** ## **`7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |`Unrestricted`
`fund`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`3,800`
`Investment income`
`977`
**`Total`**
`4,777`
**`EXPENDITURE ON`**
**`Charitable activities`**
`The Preservation of the Willesborough`
`Windmill for the benefit of the general`
`public.`
`14,451`
**`NET INCOME/(EXPENDITURE)`**
`(9,674)`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`16,070`
**`TOTAL FUNDS CARRIED FORWARD`**
`6,396`
**`8.`**
**`TANGIBLE FIXED ASSETS`**
`Short`
`Equipment,`
`leasehold`
`Fixtures`
`Improvements`
`& Fittings`
`£`
`£`
**`COST`**
`At 1 April 2023 and 31 March 2024`
**`16,564`**
**`3,087`**
**`DEPRECIATION`**
`At 1 April 2023`
**`16,564`**
**`2,978`**
`Charge for year`
**`-`**
**`16`**
`At 31 March 2024`
**`16,564`**
**`2,994`**
**`NET BOOK VALUE`**
`At 31 March 2024`
**`-`**
**`93`**
`At 31 March 2023`
`-`
`109`|`Restricted`
`funds`
`£`
`7,000`
`18`
`7,018`
`-`
`7,018`
`7,153`
`14,171`
`Donated`
`assets`
`£`
**`500`**
**`494`**
**`1`**
**`495`**
**`5`**
`6`|`Total`
`funds`
`£`
`10,800`
`995`
`11,795`
`14,451`
`(2,656)`
`23,223`
`20,567`
`Totals`
`£`
**`20,151`**
**`20,036`**
**`17`**
**`20,053`**
**`98`**
`115`| |---|---|---| ``` Shortleaseholdimprovementsamountingto£7,683,representimprovementstotheWindmill prior tothegrantingofanew25yearleaseon1April2002.Theyhavebeenwrittenoffoverthelife of the previous lease. ``` ``` Additionalimprovements,totalling£8,881,aretobewrittenoffoveranexpectedusefullifeof 10 years. ``` ``` continued... ``` ``` Page 12 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ``` ## **`9. FIXED ASSET INVESTMENTS`** |**`FIXED ASSET INVESTMENTS`**|| |---|---| ||`Unlisted`| ||`investments`| ||`£`| |**`MARKET VALUE`**|| |`At 1 April 2023 and 31 March 2024`|**`1`**| |**`NET BOOK VALUE`**|| |`At 31 March 2024`|**`1`**| |`At 31 March 2023`|`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: ``` |`%`
`Class of share:`
`holding`
`Ordinary`
**`50`**
`Aggregate capital and reserves`
`Profit/(loss) for the year`
**`10.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Prepayments`
**`11.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other creditors`
`Accruals and deferred income`
**`12.`**
**`MOVEMENT IN FUNDS`**
`At 1/4/23`
`£`
**`Unrestricted funds`**
`General fund`
**`6,396`**
**`Restricted funds`**
`Ashford Borough Council Maintenance`
`Fund`
**`11,424`**
`NHMF Lottery Fund`
**`2,747`**
**`14,171`**
**`TOTAL FUNDS`**
**`20,567`**|**`31/3/24`**
**`£`**
**`5,853`**
**`2,932`**
**`2024`**
**`£`**
**`-`**
**`2024`**
**`£`**
**`450`**
**`1,116`**
**`1,566`**
`Net`
`movement`
`in funds`
`£`
**`199`**
**`7,287`**
**`61`**
**`7,348`**
**`7,547`**|`31/3/23`
`£`
`2,921`
`(566)`
`2023`
`£`
`612`
`2023`
`£`
`450`
`1,158`
`1,608`
`At`
`31/3/24`
`£`
**`6,595`**
**`18,711`**
**`2,808`**
**`21,519`**
**`28,114`**| |---|---|---| ``` continued... ``` ``` Page 13 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ``` ## **`12. MOVEMENT IN FUNDS - continued`** ``` Net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Ashford Borough Council Maintenance`
`Fund`
`NHMF Lottery Fund`
**`TOTAL FUNDS`**
**`Comparatives for movement in funds`**
**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Ashford Borough Council Maintenance`
`Fund`
`NHMF Lottery Fund`
**`TOTAL FUNDS`**
`Comparative net movement in funds, included in the above`
**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Ashford Borough Council Maintenance`
`Fund`
`NHMF Lottery Fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
**`22,772`**
**`7,287`**
**`61`**
**`7,348`**
**`30,120`**
`At 1/4/22`
`£`
`16,070`
`4,424`
`2,729`
`7,153`
`23,223`
`are as follows:`
`Incoming`
`resources`
`£`
`4,777`
`7,000`
`18`
`7,018`
`11,795`|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
**`(22,573)`**
**`199`**
**`-`**
**`7,287`**
**`-`**
**`61`**
**`-`**
**`7,348`**
**`(22,573)`**
**`7,547`**
`Net`
`movement`
`At`
`in funds`
`31/3/23`
`£`
`£`
`(9,674)`
`6,396`
`7,000`
`11,424`
`18`
`2,747`
`7,018`
`14,171`
`(2,656)`
`20,567`

`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(14,451)`
`(9,674)`
`-`
`7,000`
`-`
`18`
`-`
`7,018`
`(14,451)`
`(2,656)`| |---|---|---| ``` continued... ``` ``` Page 14 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ``` ## **`12. MOVEMENT IN FUNDS - continued`** ``` A current year 12 months and prior year 12 months combined position is as follows: ``` ||||`Net`|| |---|---|---|---|---| ||||`movement`|`At`| ||`At 1/4/22`||`in funds`|`31/3/24`| |||`£`|`£`|`£`| |**`Unrestricted funds`**||||| |`General fund`|`16,070`||`(9,475)`|`6,595`| |**`Restricted funds`**||||| |`Ashford Borough Council Maintenance`||||| |`Fund`||`4,424`|`14,287`|`18,711`| |`NHMF Lottery Fund`||`2,729`|`79`|`2,808`| |||`7,153`|`14,366`|`21,519`| |**`TOTAL FUNDS`**|`23,223`||`4,891`|`28,114`| ``` Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Ashford Borough Council Maintenance`
`Fund`
`NHMF Lottery Fund`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`27,549`
`(37,024)`
`(9,475)`
`14,287`
`-`
`14,287`
`79`
`-`
`79`
`14,366`
`-`
`14,366`
`41,915`
`(37,024)`
`4,891`| |---|---| ``` TheAshfordBoroughCouncilMaintenanceFundisforthepurposeofmaintenanceofthe Windmill. £7,000 is received each year, for 25 years, from Ashford Borough Council. ``` ``` TheLotteryFundisrestrictedtothepurchaseofnewsweepsandatotalof£35,000was initially awarded. ``` ## **`13. RELATED PARTY DISCLOSURES`** ``` CertainmembersofthecompanyarealsomembersofTheFriendsofWillesboroughWindmill. Any surplusarisingfromthetradingactivitiesofTheFriendsofWillesboroughWindmillisdonated to the company in accordance with The Friend's Rules. ``` ``` During the year £13,150 (2023: £2,000) was received from The Friends of Willesborough Windmill. ``` ``` CertainmembersofthecompanyarealsodirectorsofWillesboroughWindmillEnterprisesLtd. Any surplusarisingfromthetradingactivitiesofWillesboroughWindmillEnterprisesLtdisgiftedto the company. ``` ``` During the year £nil (2023: £nil) was received from Willesborough Windmill Enterprises Ltd. ``` ``` continued... ``` ``` Page 15 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`** ## **`14. COMPANY STRUCTURE`** ``` Thecompanyisacompanylimitedbyguaranteeandnothavingasharecapital.Everymember of thecompanyundertakestocontributeinawindingupasumnotexceeding£1whilsttheyare a member,orwithinoneyearafterceasingtobeamember,towardsdebtsandliabilities contracted beforeceasingtobeamember.AllmembersofthecompanyarealsomembersoftheBoard of Management. ``` ## **`15. DESIGNATED FUNDS`** ``` ThedesignatedfundforMillPaintingworkrepresentsfundssetasideforthecyclicalpaintingof the Windmill. The five year cycle of mill painting started in 2018, this was completed in 2021/22. ``` ``` Next year the next cycle of mill painting will commence and funds will be put aside each year. ``` ``` Page 16 ``` ## Willesborough Windmill Cash Account 2023- 2024 |Opening Balance
Plus income
Minus Expenditure
Closing Balance
Balance on statement
Cheques o/s
Balance on statement
chqs|April
May
June
July
7544.23
7193.68
11759.93
9977.87
650.00
15450.00
455.01
450.00
1000.55
10883.75
2237.07
2308.60
7193.68
11759.93
9977.87
8119.27
7593.68
12324.93
9990.87
8119.27
400.00
565.00
13.00
0.00
7193.68
11759.93
9977.87
8119.27|August
8119.27
0.00
2818.75
5300.52
6406.95
1106.43
5300.52|Sept
5300.52
503.91
547.61
5256.82
5656.82
400.00
5256.82|October
5256.82
450.00
1840.57
3866.25
5600.32
1734.07
3866.25
1734.07| |---|---|---|---|---| |November
3866.25
450.00
227.99
4088.26
4488.26
400.00
4088.26
400.00|December
4088.26
564.92
2243.88
2409.30
2409.30
0.00
2409.30|January
2409.30
3450.00
3723.47
2135.83
3425.83
1290.00
2135.83
890.00
400.00|February
2135.83
3700.00
2451.49
3384.34
4274.34
890.00
3384.34
890.00|March
3384.34
452.03
26575.87
30118
1702.32
31986.05
2134.05
2761.03
626.98
2134.05
146.98
480.00| |---|---|---|---|---| less tsf £6k ## Willesborough Windmill Income 2023-24 |Date|Reference|Rent||Donaton|TSF||Int||Total| |---|---|---|---|---|---|---|---|---|---| |April|||||||||| |11.4.23|Colin Marshall||450.00||||||450.00| |21.4.23|Norman Cycles|||200.00|||||200.00| |YTD Sub Totals|||450.00|200.00|||||650.00| |May|||||||||| |9.5.23|Colin Marshall||450.00||||||450.00| |11.5.23|Friends|||15000.00|||||15000.00| |YTD Sub Totals|||900.00|15200.00|||||16100.00| |June|||||||||| |9.6.23|Colin Marshall||450.00||||||450.00| |26.6.23|Int|||||||5.01|5.01| |YTD Sub Totals|||1350.00|15200.00||||5.01|16555.01| |July|||||||||| |10.7.23|Colin Marshall||450.00||||||450.00| |YTD Sub Totals|||1800.00|15200.00||||5.01|17005.01| |September|||||||||| |8.9.23|Colin Marshall||500.00||||||500.00| |26.9.23|Int|||||||3.91|3.91| ||||2300.00|15200.00||||8.92|17508.92| |October|||||||||| |6.10.23|Colin Marshall||450.00||||||450.00| ||||2750.00|15200.00||||8.92|17958.92| |November|||||||||| |3.11.23|Colin Marshall||112.50||||||112.50| |10.11.23|Colin Marshall||112.50||||||112.50| |17.11.23|Colin Marshall||112.50||||||112.50| |24.11.23|Colin Marshall||112.50||||||112.50| ||||3200.00|15200.00||||8.92|18408.92| |December|||||||||| |1.12.23|Colin Marshall||112.50||||||112.50| |8.12.23|Colin Marshall||112.50||||||112.50| |15.12.23|Colin Marshall||112.50||||||112.50| |22.12.23|Colin Marshall||112.50||||||112.50| |27.12.23|Interest|||||||2.42|2.42| |29.12.23|Colin Marshall||112.50||||||112.50| ||||3762.50|15200.00||||11.34|18973.84| |January 2024|||||||||| |4.1.24|TSF from 89238|||||3000.00|||3000.00| |5.1.24|Colin Marshall||112.50||||||112.50| |12.1.24|Colin Marshall||112.50||||||112.50| |19.1.24|Colin Marshall||112.50||||||112.50| |26.1.24|Colin Marshall||112.50||||||112.50| ||||4212.50|15200.00||3000.00||11.34|22423.84| |Feb-24|||||||||| |2.2.24|Colin Marshall||112.50||||||112.50| |9.2.24||Colin Marshall|112.50||||112.50| |---|---|---|---|---|---|---|---| |16.2.24||Colin Marshall|112.50||||112.50| |19.2.24||Norman Cycles||250.00|||250.00| |22.2.24||from 87336|||3000.00||3000.00| |23.2.24||Colin Marshall|112.50||||112.50| ||||4662.50|15450.00|6000.00|11.34|26123.84| ||Mar-24||||||| |1.3.24||Colin Marshall|112.50||||112.50| |8.3.24||Colin Marshall|112.50||||112.50| |15.3.24||Colin Marshall|112.50||||112.50| |22.3.24||Colin Marshall|112.50||||112.50| |26.3.24||Int||||2.03|2.03| ||||5112.50|15450.00|6000.00|13.37|26575.87| ## 15450.00 455.01 450.00 503.91 450 450.00 564.92 3450.00 3700.00 452.03 |Willesborough WindmillCash Account 2023-2024|Willesborough WindmillCash Account 2023-2024|Willesborough WindmillCash Account 2023-2024|Willesborough WindmillCash Account 2023-2024||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Date|ChqNo|Payee|Gen Admin|Electricity|Telephone|Water|Maint|Grounds|Electrical|Total|| ||||||||ABC|Maint|Maint|£|| |April||P|||||||||| |4.4.23|DD|EDF||282.55||||||282.55|| |17.4.23|DD|Account fee|5.00|||||||5.00|| |20.4.23|649|Paul Kemp|||||400.00|||400.00|| |25.4.23|DD|EDF||313.00||||||313.00|| |YTD sub totals|||0.00|595.55|||400.00|||995.55|| |May|||||||||||| |11.5.23|tsf|tsf to 89238|10000.00|||||||10000.00|| |15.5.23|DD|Account fee|5.75|||||||5.75|| |17.5.23|650|Paul Kemp|||||400.00|||400.00|| |17.5.23|851|ATTA|165.00|||||||165.00|| |25.5.23|DD|EDF||313.00||||||313.00|| |YTD sub totals|||10170.75|908.55|||800.00|||11879.30|10883.75| |June|||||||||||| |15.6.23|DD|Account fee|9.50|||||||9.50|| |16.6.23|DD|Castle Water||||168.25||||168.25|| |19.6.23|852|Paul Kemp|||||400.00|||400.00|| |19.6.23|853|ICO|40.00|||||||40.00|| |19.6.23|854|M.Burge HMRC|13.00|||||||13.00|| |19.6.23|855|BT|||139.61|||||139.61|| |21.6.23|856|Zurich Insurance|1466.71|||||||1466.71|2237.07| |YTD sub totals|||11699.96|908.55|139.61|168.25|1200.00|||14116.37|| |July|||||||||||| |5.7.23|DD|EDF||1284.10||||||1284.10|| |15.7.23|DD|Account fee|6.50|||||||6.50|| |21.7.23|857|Paul Kemp|||||400.00|||400.00|| |25.7.23|DD|EDF||618.00||||||618.00|2308.60| |YTD sub totals|||11706.46|2810.65|139.61|168.25|1600.00|||16424.97|| |August|||||||||||| |15.8.23|DD|Account fee|5.75|||||||5.75|| |---|---|---|---|---|---|---|---|---|---|---|---| |11.8.23|858|Paul Kemp|||||400.00|||400.00|| |11.8.23|859|PPL PRS|519.86|||||||519.86|| |23.8.23|DD|EDF||618.00||||||618.00|| |25.8.23|DD|Scotsh Water||||568.71||||568.71|2112.32| |26.8.23|860|MBK Electrical|||||||264.00|264.00|| |26.8.23|861|Commercial Services||||||442.43||442.43|2818.75| |YTD sub totals|||12232.07|3428.65|139.61|736.96|2000.00|442.43|264.00|19243.72|| |September|||||||||||| |15.9.23|DD|Account fee|8.00|||||||8.00|| |17.9.23|862|BT|||139.61|||||139.61|| |29.9.23|863|Paul Kemp|||||400.00|||400.00|547.61| |YTD sub totals|||12240.07|3428.65|279.22|736.96|2400.00|442.43|264.00|19791.33|| |October|||||||||||| |5.10.23|864|Garden Centre MB|100.00|||||||100.00|| |15.10.23|DD|Account fee|6.50|||||||6.50|| |31.10.23|865|Commercial Services||||||934.07||934.07|| |31.10.23|866|Paul Kemp|||||400.00|||400.00|| |31.10.23|867|Paul kemp|||||400.00|||400.00|1840.57| ||||12346.57|3428.65|279.22|736.96|2400.00|1376.50|264.00|20831.90|| |November|||||||||||| |8.11.23|DD|EDF||221.49||||||221.49|| |15.11.23|DD|Account fee|6.50|||||||6.50|227.99| ||||12353.07|3650.14|279.22|736.96|2400.00|1376.50|264.00|21059.89|| |December|||||||||||| |6.12.23|868|Paul Kemp|||||400.00|||400.00|| |15.12.23|DD|Account fee|8.00|||||||8.00|| |15.12.23|869|MBK Electrical|||||||1248.00|1248.00|| |15.12.23|870|BT|||139.61|||||139.61|| |18.12.23|DD|Castle Water||||448.27||||448.27|2243.88| ||||12361.07|3650.14|418.83|1185.23|2800.00|1376.50|1512.00|23303.77|| |January2024|||||||||||| |9.1.24|871|GMP Accountant|1062.00|||||||1062.00|| |---|---|---|---|---|---|---|---|---|---|---|---| |10.1.24|872|Paul Kemp|||||400.00|||400.00|| |12.1.24|DD|EDF||964.97||||||964.97|| |15.1.24|DD|Account fee||6.50||||||6.50|| |26.1.24|873|T.Driscoll roofng|||||890.00|||890.00|| |26.1.24|874|Paul Kemp|||||400.00|||400.00|3723.47| ||||13423.07|4621.61|418.83|1185.23|4490.00|1376.50|1512.00|27027.24|| |Feb-24|||||||||||| |15.2.24|DD|Account fee|5.75|||||||5.75|| |29.2.24|DD|EDF||2445.74||||||2445.74|2451.49| ||||13428.82|7067.35|418.83|1185.23|4490.00|1376.50|1512.00|29478.73|| |Mar-24|||||||||||| |7.3.24|875|Paul Kemp|||||480.00|||480.00|| |14.3.24|876|BT|||146.98|||||146.98|| |14.3.24|DD|Account fee|6.50|||||||6.50|| |19.3.24|DD|EDF||588.84||||||588.84|| |28.3.24|877|Paul Kemp|||||480.00|||480.00|1702.32| ||||13435.32|7656.19|565.81|1185.23|5450.00|1376.50|1512.00|31181.05|| ## Willesborough WindmillLotery Grant Account 2023- 2024 |||£|| |---|---|---|---| |Opening Balance||2747.67|| |26.6.23|Int|9.81|| |26.9.23|Int|15.77|| |||2773.25|| |27.12.23|int|17.29|| |||2790.54|agreed| |26.3.24|int|17.39|| |||2807.93|agreed| ## Willesborough Windmill ABC Funding Accoun t 2023- 2024 |||£|| |---|---|---|---| |Opening Balance||10685.30|| |26.6.23|Int|38.18|| |30.8.23|ABC grant|2000.00|| |26.9.23|int|65.01|| |||12788.49|agreed| |27.12.23|int|79.71|| |||12868.20|agreed| |23.1.23|ABC grant|7000.00|| |22.2.24|tsf|-3000.00|| |||16868.20|agreed| |26.3.24|int|103.64|| |||16971.84|agreed| ## Willesborough Windmill General Reserve Account 2023- 2024 |||£|| |---|---|---|---| |Opening Balance||471.47|| |11.5.23|TSF from 5359|10000.00|| |26.6.23|int|20.39|| |26.9.23|Int|60.00|| |||10551.86|agreed| |27.12.23|int|65.77|| |||10617.63|agreed| |13.1.24|tsf to 5359|-3000.00|| |||7617.63|| |26.3.24|int|49.33|| |||7666.96|agreed| ``` 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 2024 ``` ## **`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 2024`** **----- Start of picture text -----**
Page
Reference and Administrative Details 1
Report of the Trustees 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 16
**----- End of picture text -----**
``` WILLESBOROUGH WINDMILL TRUST ``` ``` REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2024 ``` |**`TRUSTEES`**|`Mrs C J Drury (Treasurer)`| |---|---| ||`J R White`| ||`C S George`| ||`A D Terry`| ||`E C Crouch`| ||`Ms F Brann`| |**`COMPANY SECRETARY`**|`Ms F Brann`| |**`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 2024`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present theirreportwiththefinancialstatementsofthecharityfortheyearended31March2024.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`** ``` Theyear2023-2024hasbeenasuccessfulyearforWillesboroughWindmill.TheMillhasbeenopen for smallpartytours;wedding/civilpartnershipceremoniestookplace.Thetearoomhasoperated accepting paymentsmainlybycardandtablecoveringshavebeenreplacedwithcolourfulmattoilclothwhich can beeasilycleanedandsanitisedbetweeneachuse;Afullrangeofsocialeventsalsotookplace, all popularandwell-attended.TheFriendsofWillesboroughWindmillwereabletomakea substantial donation to The Trust to finance the operation of the Windmill. ``` ``` IncommonwithallbusinessestheWindmillhasseenanincreaseincostsforenergy,maintenance and forcateringsupplies.Allusersareaskedtobeeconomicalwithenergyusage.Somecateringcosts have been increased. The tenant of the Mill flat assists with minor maintenance and has cared for the Mill cat. ``` ``` OurMillwright,PaulKemp,haskeptthemillrunningwithregularmaintenancechecks;volunteers have tendedtothegroundsandplanting;ourthanksgotoallthosewhohavegivenfreelyoftheirtime. Grain hasbeenmilledandsoldtothepublicinPluckley,GibbetOakandPerryCourtFarmShopsandis also available at the Mill. ``` ``` TheMillwillopenforMillToursfromApriltoOctober,Saturdays,SundaysandBankHoliday Mondays from 2 - 5pm; during July and August it will also open on Wednesdays. ``` ``` Weddings and Civil partnership ceremonies have fully re-commenced and the Mill is a popular venue. ``` ``` CateringissuppliedbyMrsCobbs'KitchenintheBarnwhichhasreceivedmaximum5Stars hygiene ratingfromAshfordBoroughCouncil"ScoresontheDoorsand"recommended"accoladefrom Restaurant Guru. Our thanks go to the voluntary staff who have made this possible. ``` ``` Duringtheyearwehopetobeabletodevelopourheritagefieldandfinishtherebuilding of WillesboroughlevelcrossingsignalboxandgatesandstarttherebuildingoftheKentish ragstone mortuary building rescued from Willesborough Cemetery. ``` ``` Page 2 ``` ``` WILLESBOROUGH WINDMILL TRUST (REGISTERED NUMBER: 02704659) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024`** ``` 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, there are currently 57 participants. ``` ``` Fundraising events planned for 2024 include: - ``` - `Teddy Bear's Picnic on 26th May` - `Heritage and Craft Fair on 11th August` - `Fun Dog Show 26th August` - `Norman Cycles Club Day 22nd September` - `Musical Evenings on 5th and 6th October` - `Halloween fun on 27th October` - `Christmas Coffee Morning on 5th December` ``` All the Trustees and volunteers are looking forward to a successful 2024. ``` ## **`FINANCIAL REVIEW`** ## **`Financial review`** ``` Incomefortheyearamountedto£30,120(2023:£11,795)andexpendituretotalled£22,573 (2023: £14,451).Thisresultedinasurplusfortheyearof£7,547(2023:deficit£2,656)andnetfundsat 31 March 2024 of £28,114 (2023 :£20,567). ``` ## **`Reserves policy`** ``` TheBoardofManagementhavereviewedthegeneralreservesheldbythecharityandfeelthatthey are not excessive. ``` ``` Duringtheyear,TheBoardofManagementhavereviewedthereservespolicyandfeelthatthe general reservesshouldrepresentatleastoneyear'sexpectedsupportcostswhichwouldamountto £2,400 (2023:£2,400).At31March2024unrestrictedreservesamountedto£6,595(2023: £6,396). MaintenancecostsaremainlycoveredbytheAnnualMaintenancegrantfromAshfordBorough Council withotheressentialcostscoveredbyperiodicdonationsfromWillesboroughWindmillEnterprisesLtd and Friends of Willesborough Windmill. ``` ``` Designatedfundsat31March2024amountedto£nil(2023:£nil)andfurtherdetailscanbefound on page 17. ``` ``` Restrictedfundsat31March2024amountedto£21,519(2022:£14,171)andfurtherdetailscan be 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 2024`** ## **`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 George J White A D Terry F Brann 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,CDruryretiresbyrotationfromtheBoard of Management and, being eligible, offers himself 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. ``` ``` Approved by order of the board of trustees on 15 December 2024 and signed on its behalf by: ``` ``` Ms F Brann - Secretary ``` ``` Page 4 ``` ``` INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WILLESBOROUGH WINDMILL TRUST ``` ``` Independentexaminer'sreporttothetrusteesofWillesboroughWindmillTrust ('the Company') ``` ``` IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended 31 March 2024. ``` ## **`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. ``` ``` David Ashby FCCA ACA ``` ``` Gibbons Mannington & Phipps LLP Chartered Accountants 82 High Street Tenterden Kent TN30 6JG ``` ``` 16 December 2024 ``` ``` Page 5 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024`** |`Unrestricted`
`Restricted`
`fund`
`funds`
`Notes`
`£`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
**`15,600`**
**`7,000`**
`Investment income`
`3`
**`7,172`**
**`348`**
**`Total`**
**`22,772`**
**`7,348`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`4`
`The Preservation of the Willesborough`
`Windmill for the benefit of the general`
`public.`
**`22,573`**
**`-`**
**`NET INCOME/(EXPENDITURE)`**
**`199`**
**`7,348`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`6,396`**
**`14,171`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`6,595`**
**`21,519`**|**`2024`**
**`Total`**
**`funds`**
**`£`**
**`22,600`**
**`7,520`**
**`30,120`**
**`22,573`**
**`7,547`**
**`20,567`**
**`28,114`**|`2023`
`Total`
`funds`
`£`
`10,800`
`995`
`11,795`
`14,451`
`(2,656)`
`23,223`
`20,567`| |---|---|---| ``` The notes form part of these financial statements ``` ``` Page 6 ``` ``` WILLESBOROUGH WINDMILL TRUST (REGISTERED NUMBER: 02704659) ``` ## **`BALANCE SHEET 31 MARCH 2024`** |`Unrestricted`
`Restricted`
`fund`
`funds`
`Notes`
`£`
`£`
**`FIXED ASSETS`**
`Tangible assets`
`8`
**`98`**
**`-`**
`Investments`
`9`
**`1`**
**`-`**
**`99`**
**`-`**
**`CURRENT ASSETS`**
`Debtors`
`10`
**`-`**
**`-`**
`Cash at bank`
**`8,062`**
**`21,519`**
**`8,062`**
**`21,519`**
**`CREDITORS`**
`Amounts falling due within one year`
`11`
**`(1,566)`**
**`-`**
**`NET CURRENT ASSETS`**
**`6,496`**
**`21,519`**
**`TOTAL ASSETS LESS CURRENT`**
**`LIABILITIES`**
**`6,595`**
**`21,519`**
**`NET ASSETS`**
**`6,595`**
**`21,519`**
**`FUNDS`**
`12`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|**`2024`**
**`Total`**
**`funds`**
**`£`**
**`98`**
**`1`**
**`99`**
**`-`**
**`29,581`**
**`29,581`**
**`(1,566)`**
**`28,015`**
**`28,114`**
**`28,114`**
**`6,595`**
**`21,519`**
**`28,114`**|`2023`
`Total`
`funds`
`£`
`115`
`1`
`116`
`612`
`21,447`
`22,059`
`(1,608)`
`20,451`
`20,567`
`20,567`
`6,396`
`14,171`
`20,567`| |---|---|---| ``` ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006 for the year ended 31 March 2024. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year ended 31 March 2024 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 7 ``` ## **`WILLESBOROUGH WINDMILL TRUST (REGISTERED NUMBER: 02704659)`** ## **`BALANCE SHEET - continued 31 MARCH 2024`** ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable companies subject to the small companies regime. ``` ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on 15 December 2024 and were signed on its behalf by: ``` ``` J R White - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 8 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ``` NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ``` ## **`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 9 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ``` ## **`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 10 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`** |**`2.`**
**`DONATIONS AND LEGACIES`**
`Donations`
`Grants`
`Grants received, included in the above, are as follows:`
`Ashford B C -Maintenance of the Windmill`
`Ashford B C- Administrative costs`
**`3.`**
**`INVESTMENT INCOME`**
`Rents received`
`Deposit account interest`
**`4.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Direct`
`Costs`
`£`
`The Preservation of the`
`Willesborough Windmill for the`
`benefit of the general public. `
**`20,128`**
**`5.`**
**`NET INCOME/(EXPENDITURE)`**
`Net income/(expenditure) is stated after charging/(crediting):`
`Depreciation - owned assets`|**`2024`**
**`£`**
**`13,600`**
**`9,000`**
**`22,600`**
**`2024`**
**`£`**
**`9,000`**
**`-`**
**`9,000`**
**`2024`**
**`£`**
**`6,963`**
**`557`**
**`7,520`**
`Support`
`costs`
`£`
**`2,445`**
**`2024`**
**`£`**
**`17`**||`2023`
`£`
`1,800`
`9,000`|`2023`
`£`
`1,800`
`9,000`| |---|---|---|---|---| ||||`10,800`|| ||||`2023`
`£`
`7,000`
`2,000`
`9,000`
`2023`
`£`
`900`
`95`
`995`
`Totals`
`£`
**`22,573`**|`2023`
`£`
`7,000`
`2,000`| |||||`9,000`| |||||`2023`
`£`
`900`
`95`| |||||`995`| ||||`2023`
`£`
`20`|| ## **`6. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2024nor for the year ended 31 March 2023. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31March2024norfortheyear ended 31 March 2023. ``` ``` continued... ``` ``` Page 11 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`** ## **`7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |`Unrestricted`
`fund`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`3,800`
`Investment income`
`977`
**`Total`**
`4,777`
**`EXPENDITURE ON`**
**`Charitable activities`**
`The Preservation of the Willesborough`
`Windmill for the benefit of the general`
`public.`
`14,451`
**`NET INCOME/(EXPENDITURE)`**
`(9,674)`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`16,070`
**`TOTAL FUNDS CARRIED FORWARD`**
`6,396`
**`8.`**
**`TANGIBLE FIXED ASSETS`**
`Short`
`Equipment,`
`leasehold`
`Fixtures`
`Improvements`
`& Fittings`
`£`
`£`
**`COST`**
`At 1 April 2023 and 31 March 2024`
**`16,564`**
**`3,087`**
**`DEPRECIATION`**
`At 1 April 2023`
**`16,564`**
**`2,978`**
`Charge for year`
**`-`**
**`16`**
`At 31 March 2024`
**`16,564`**
**`2,994`**
**`NET BOOK VALUE`**
`At 31 March 2024`
**`-`**
**`93`**
`At 31 March 2023`
`-`
`109`|`Restricted`
`funds`
`£`
`7,000`
`18`
`7,018`
`-`
`7,018`
`7,153`
`14,171`
`Donated`
`assets`
`£`
**`500`**
**`494`**
**`1`**
**`495`**
**`5`**
`6`|`Total`
`funds`
`£`
`10,800`
`995`
`11,795`
`14,451`
`(2,656)`
`23,223`
`20,567`
`Totals`
`£`
**`20,151`**
**`20,036`**
**`17`**
**`20,053`**
**`98`**
`115`| |---|---|---| ``` Shortleaseholdimprovementsamountingto£7,683,representimprovementstotheWindmill prior tothegrantingofanew25yearleaseon1April2002.Theyhavebeenwrittenoffoverthelife of the previous lease. ``` ``` Additionalimprovements,totalling£8,881,aretobewrittenoffoveranexpectedusefullifeof 10 years. ``` ``` continued... ``` ``` Page 12 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ``` ## **`9. FIXED ASSET INVESTMENTS`** |**`FIXED ASSET INVESTMENTS`**|| |---|---| ||`Unlisted`| ||`investments`| ||`£`| |**`MARKET VALUE`**|| |`At 1 April 2023 and 31 March 2024`|**`1`**| |**`NET BOOK VALUE`**|| |`At 31 March 2024`|**`1`**| |`At 31 March 2023`|`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: ``` |`%`
`Class of share:`
`holding`
`Ordinary`
**`50`**
`Aggregate capital and reserves`
`Profit/(loss) for the year`
**`10.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Prepayments`
**`11.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other creditors`
`Accruals and deferred income`
**`12.`**
**`MOVEMENT IN FUNDS`**
`At 1/4/23`
`£`
**`Unrestricted funds`**
`General fund`
**`6,396`**
**`Restricted funds`**
`Ashford Borough Council Maintenance`
`Fund`
**`11,424`**
`NHMF Lottery Fund`
**`2,747`**
**`14,171`**
**`TOTAL FUNDS`**
**`20,567`**|**`31/3/24`**
**`£`**
**`5,853`**
**`2,932`**
**`2024`**
**`£`**
**`-`**
**`2024`**
**`£`**
**`450`**
**`1,116`**
**`1,566`**
`Net`
`movement`
`in funds`
`£`
**`199`**
**`7,287`**
**`61`**
**`7,348`**
**`7,547`**|`31/3/23`
`£`
`2,921`
`(566)`
`2023`
`£`
`612`
`2023`
`£`
`450`
`1,158`
`1,608`
`At`
`31/3/24`
`£`
**`6,595`**
**`18,711`**
**`2,808`**
**`21,519`**
**`28,114`**| |---|---|---| ``` continued... ``` ``` Page 13 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ``` ## **`12. MOVEMENT IN FUNDS - continued`** ``` Net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Ashford Borough Council Maintenance`
`Fund`
`NHMF Lottery Fund`
**`TOTAL FUNDS`**
**`Comparatives for movement in funds`**
**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Ashford Borough Council Maintenance`
`Fund`
`NHMF Lottery Fund`
**`TOTAL FUNDS`**
`Comparative net movement in funds, included in the above`
**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Ashford Borough Council Maintenance`
`Fund`
`NHMF Lottery Fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
**`22,772`**
**`7,287`**
**`61`**
**`7,348`**
**`30,120`**
`At 1/4/22`
`£`
`16,070`
`4,424`
`2,729`
`7,153`
`23,223`
`are as follows:`
`Incoming`
`resources`
`£`
`4,777`
`7,000`
`18`
`7,018`
`11,795`|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
**`(22,573)`**
**`199`**
**`-`**
**`7,287`**
**`-`**
**`61`**
**`-`**
**`7,348`**
**`(22,573)`**
**`7,547`**
`Net`
`movement`
`At`
`in funds`
`31/3/23`
`£`
`£`
`(9,674)`
`6,396`
`7,000`
`11,424`
`18`
`2,747`
`7,018`
`14,171`
`(2,656)`
`20,567`

`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(14,451)`
`(9,674)`
`-`
`7,000`
`-`
`18`
`-`
`7,018`
`(14,451)`
`(2,656)`| |---|---|---| ``` continued... ``` ``` Page 14 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ``` ## **`12. MOVEMENT IN FUNDS - continued`** ``` A current year 12 months and prior year 12 months combined position is as follows: ``` ||||`Net`|| |---|---|---|---|---| ||||`movement`|`At`| ||`At 1/4/22`||`in funds`|`31/3/24`| |||`£`|`£`|`£`| |**`Unrestricted funds`**||||| |`General fund`|`16,070`||`(9,475)`|`6,595`| |**`Restricted funds`**||||| |`Ashford Borough Council Maintenance`||||| |`Fund`||`4,424`|`14,287`|`18,711`| |`NHMF Lottery Fund`||`2,729`|`79`|`2,808`| |||`7,153`|`14,366`|`21,519`| |**`TOTAL FUNDS`**|`23,223`||`4,891`|`28,114`| ``` Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Ashford Borough Council Maintenance`
`Fund`
`NHMF Lottery Fund`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`27,549`
`(37,024)`
`(9,475)`
`14,287`
`-`
`14,287`
`79`
`-`
`79`
`14,366`
`-`
`14,366`
`41,915`
`(37,024)`
`4,891`| |---|---| ``` TheAshfordBoroughCouncilMaintenanceFundisforthepurposeofmaintenanceofthe Windmill. £7,000 is received each year, for 25 years, from Ashford Borough Council. ``` ``` TheLotteryFundisrestrictedtothepurchaseofnewsweepsandatotalof£35,000was initially awarded. ``` ## **`13. RELATED PARTY DISCLOSURES`** ``` CertainmembersofthecompanyarealsomembersofTheFriendsofWillesboroughWindmill. Any surplusarisingfromthetradingactivitiesofTheFriendsofWillesboroughWindmillisdonated to the company in accordance with The Friend's Rules. ``` ``` During the year £13,150 (2023: £2,000) was received from The Friends of Willesborough Windmill. ``` ``` CertainmembersofthecompanyarealsodirectorsofWillesboroughWindmillEnterprisesLtd. Any surplusarisingfromthetradingactivitiesofWillesboroughWindmillEnterprisesLtdisgiftedto the company. ``` ``` During the year £nil (2023: £nil) was received from Willesborough Windmill Enterprises Ltd. ``` ``` continued... ``` ``` Page 15 ``` ``` WILLESBOROUGH WINDMILL TRUST ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`** ## **`14. COMPANY STRUCTURE`** ``` Thecompanyisacompanylimitedbyguaranteeandnothavingasharecapital.Everymember of thecompanyundertakestocontributeinawindingupasumnotexceeding£1whilsttheyare a member,orwithinoneyearafterceasingtobeamember,towardsdebtsandliabilities contracted beforeceasingtobeamember.AllmembersofthecompanyarealsomembersoftheBoard of Management. ``` ## **`15. DESIGNATED FUNDS`** ``` ThedesignatedfundforMillPaintingworkrepresentsfundssetasideforthecyclicalpaintingof the Windmill. The five year cycle of mill painting started in 2018, this was completed in 2021/22. ``` ``` Next year the next cycle of mill painting will commence and funds will be put aside each year. ``` ``` Page 16 ```