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← Norfolk Mills And Pumps Trust

2025-03-31-accounts

NORFOLK MILLS & PUMPS TRUST

TRUSTEE'S REPORT & FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

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Charity number: 1033274

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Norfolk Mills & Pumps Trust Trustees Report & Financial Statements

For the year ended 31 March 2025

Index to Financial Statements Page Report of the Trustees' 1-7 Independent Examiner's Report 8 Statement of Financial Activities 9 BalanceNotes to Sheetthe Financial Statements 11-2010

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Norfolk Mills & Pumps Trust

Report of the Trustees

For the year ended 31 March 2025

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The Trustees present their report of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

Reference and Administration Information

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|||||| |---|---|---|---|---| |Charity|Name:|Norfolk|Mills & Pumps|Trust| |Charity|Registration| |Number:|1033274| |Trustees:|Mr P|Duigan — Chairman|(Norfolk County|Council)| |Dr K|Bacon — Vice|Chairman|(Co-opted|member)| |Mr A White|(Norfolk|County|Council)| |Mr|N|Brennan|(Co-opted|member)| |Mr G|Plant|(Norfolk County|Council)|

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———e— ———————oS———/[$—SS ae NN 050 0 w—wowe=s eae T——S][—eeee eee NN 6wwiwiwoas > | | Trust | | | | Legal Services : | FCCA | | |

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Norfolk Mills & Pumps Trust

Report of the Trustees (continued)

For the year ended 31 March 2025

Reference and Administration Information (continued)

Address: NorfolkMills &PumpsTrust
County Hall
Martineau Lane
Norwich
Norfolk
NR1 2SG
Bankers: Barclays Bank Plc
St Stephens Branch
5-7 Red Lion Street
Norwich
Norfolk
NR2 1HS
Solicitors: NorfolkCountyCouncil Legal ServicesServices
County Hall
Martineau Lane
Norwich
Norfolk
Independent Examiner: NR12DH
MrAndrew OrvesFCAFCCA
Sexty&Co
124Thorpe Road
Norwich
NR11RS

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Norfolk Mills & Pumps Trust

Report of the Trustees (continued)

For the year ended 31 March 2025

Objectives and Activities

Principal Objectives The objectives of the trust are the preservation (including maintenance and improvement) for the benefit of the people of the County of Norfolk and of the nation at large of: -

Public benefit

The Trustees have taken due regard to the guidance published by the Charity Commission on public benefit. The Trustees consider the charity provides a public benefit as it provides the maintenance to historical buildings.

The Trust maintains 21 mills and associated buildings. They are icons in the landscape and are an integral part of the heritage of Norfolk. The properties can be seen by the public when driving around the county, from boats on the rivers or when walking on public footpaths. Many of the properties still have their machinery in place, which can be inspected when they are open to the public, on a regular basis. This is a reminder of the skills of our ancestors.

Achievements and Performance

Review of Activities

How Hill Mills (Turf Fen, Boardman’s and Clayrack) — The Trust are working with the County Council on progressing projects to restore the mills at How Hill. At Turf Fen Mill, procurement was completed for a Conservation Accredited Professional with the contract signed in June. Following procurement for a contractor there was shortfall in project funding, and a further application was submitted to Historic England. Work continues to appoint a contractor for the works. At Boardman’s Mill the works are on hold whilst work is focused on Turf Fen Mill. A response was received to the project enquiry submitted to the National Lottery for a wider project at How Hill including works to Clayrack Mill. Work continues to assess the response and agree the way forward for a project to restore Clayrack Mill.

Stracey Arm's Mill (Mill and Marsh Folk Project) - At Stracey Arms Mill the works outstanding from the Mill & Marsh Folk Project were completed. The works included fitting the shutters in the sails, fitting the chain pole, completing the brake mechanism, fitting a lightening conductor and work to the turbine chamber.

High’s Mill, Halvergate — Four bolt through door hinge pintles have been produced to replace the more modern ones currently on site. These are yet to be fitted.

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SN SC | | | | | waterwheel provided. | hoist were were | | at No.53 at the the Trust: | | of income income | Lottery | |

Norfolk Mills & Pumps Trust

Report of the Trustees (continued)

For the year ended 31 March 2025 —————SSaa a eee

Gunton Park Sawmill — the works to the upper sluice gates were completed, four buckets on waterwheel were replaced and the buckets de-rusted, 1-2 teeth on drive gear wheel were fixed and oil cups provided. Paint was purchased to paint the timberwork and new slings and a 2T Yalelift 360 manual chain hoist were were purchased.

St Olaves Mill — Repair and repainting work continues at the mill.

Wicklewood Mill site - Small repairs were carried out at the mill house. Damp issues continue at No.53 and the Trust are working towards carrying out works to rectify the damp issues to a later extension at the property.

Volunteers had successful open days at the following mills during the summer season for the Trust: Billingford Mill, Gunton Park Sawmill, Old Buckenham Mill and Wicklewood Mill.

Financial Review

The results of the Trust for the year are set out in detail on pages 9 to 20. The principal source of income income for the Trust is an annual refund from Norfolk County Council for services by the Trust and Heritage Lottery Funding for restoration works to the mills.

Restricted Funds

Restricted funds include funding from grants and donations for works to specific mills. .

Designated Funds

The designated funds are used to cover any unexpected maintenance costs which arise.

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Norfolk Mills & Pumps Trust

Report of the Trustees (continued)

For the year ended 31 March 2025

Reserves Policy

It is the intention of the trustees to use substantially all of the Trust's income towards preservation work on an annual basis and therefore there are no plans to build up the level of the General Fund. As at 31 March 2024 there were free reserves with unrestricted fixed assets exceeding net current assets by £357,477. The Trust has designated funds of £80,343 representing £5,000 to cover maintenance and £75,343 which has been allocated to specific works required over the forthcoming years. Restricted funds of £47,391 were held at 31 March 2024.

Government Grant Accounting Policy

Recognition of Income and Expenditure Activity is accounted for in the year that it takes place, not simply when cash payments are made or received. Government grants and third-party contributions are recognised when there is reasonable assurance that The Norfolk Windmill Trust will fulfil the conditions attached to the payments, and the grants or contributions will be received. Generally, the grants or contributions are shown in the Balance Sheet.

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Plans for Future Periods

In 2025/26 the Trust would like to complete the procurement process and appoint a contractor for Turf Fen Mill and programme the start of works on site. At Boardman’s Mill the Trustees would like to see applications for funding to be submitted for the shortfall to the project and would like works to be programmed to start in 2026. At Clayrack Mill the Trust working with the County Council would like to see the development of a project to restore the mill.

The Trust would like to see the repairs and painted completed at St Olave’s Mill, as well as repairs and redecoration carried out at Ashtree Farm Mill.

The Trust are looking to apply for grant funding towards the redecoration and repairs at Runham Swim Mill and if successful would like to programme and complete the works in 2026.

At the Wicklewood Mill site the Trust would like to carry out works to rectify the damp issues at No.53 and develop a project for the repairs required to the mill.

Structure, Governance and Management

Governing document

Norfolk Mills & Pumps Trust is a Registered Charity (Charity No. 1033274) and governed by the Trust Deed dated 31 March 1992. The charity also uses the working name The Norfolk Windmills Trust. The Trust is registered with the Architectural Heritage Fund.

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Norfolk Mills & Pumps Trust

Report of the Trustees (continued)

For the year ended 31 March 2025

Recruitment and Appointment of Trustees

The Trust is administered by the trustees, three of whom are appointed by Norfolk County Council, two by the Broads Authority, and up to four of whom are co-opted trustees.

The tenure of office of a trustee is normally five years. A trustee appointed by a body continues as an appointee of that body even if he or she ceases to be a member of the appointing body, similarly a coopted member continues to be treated as a co-opted member even if subsequently he or she becomes a member of one of the appointing bodies. The trustees shown on the statutory information page were either in post during the year or at the date the accounts were approved.

Trustees Induction and Training

On appointment Trustees are provided with:

In addition, trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.

Organisational Structure

The board of trustees, who meet quarterly, administer the charity with assistance from Norfolk County Council.

Risk management

The trustees are aware of the Charities Commission recommendation to review the risks to which the trust is exposed. The trust regularly reviews the risks and ways to mitigate these.

Related parties

The charity has a close relationship with Norfolk County Council, which owns many of the properties maintained by the trust.

Independent examiner

A resolution to reappoint Mr Andrew Orves of Sexty & Co, as independent examiner, will be proposed at the next Annual General Meeting.

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Norfolk Mills & Pumps Trust

Report of the Trustees (continued)

For the year ended 31 March 2025

Trustees’ responsibilities

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the trustees on ce BN ON BO2G

Mr P Duigan - Chairman (Norfolk County Council) ......... ClampO. Rikeycnn

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Independent Examiner's Report to the Trustees of

Norfolk Mills & Pumps Trust

For the year ended 31 March 2025

| report on the accounts of the trust for the year ended 31 March 2025, which are set out on pages 9 to 20.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act")

| report in respect of my examination of the Trust's accounts carried under section 145 of the Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner's Statement

| have completed by examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe in any material respect:

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Andrew Orves FCA FCCA

Chartered Certified Accountant for and on behalf of Sexty & Co 124 Thorpe Road Norwich NR1 1RS a4 /:orhort

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Norfolk Mills & Pumps Trust

Balance Sheet

For the year ended 31 March 2025

2025 2024
Notes £ £
Fixed Assets
Tangible Assets		 9 3,000 3,000
Investments 10 560,000 560,000
563,000 563,000
Current Assets
Debtors
Cash atbankand in hand		 11 12,063
196,512		 19,363
213,037
208,575 232,400
Creditors: Amounts falling due
within one year		 12 (27,457) (26,877)
Net Current Assets 181,118 205,523
Net Assets 744,118 768,523
Funds
Restricted funds
Unrestricted funds		 14 42,707 47,391
General fund 14 639,291 640,789
Designated fund 14 62,120 80,343
744,118 768,523

These financial statements were approved by the trustees on... wn ie oom Qi» 2026

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Signed on behalf of the board of trustees

Mr P Duigan : TMaMup S CrreON Chairman (Norfolk County Council)

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The notes on pages 11 to 20 form an integral part of these financial statements.

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Norfolk Mills & Pumps Trust

Notes to the Financial Statements

For the year ended 31 March 2025 EE SS ss. :'::'272_05252—255qQqcQCCC‘ J —_

1 General information

The Trust is an unincorporated charity registered in England and Wales. The address of the registered office is The Norfolk Windmills Trust, County Hall, Martineau Lane, Norwich, Norfolk, NR1 2SG

2 Statement of compliance The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements have been prepared to give a ‘true and fair view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

3 Principal accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.

a) Basis of accounting

The accounts have been prepared using historical cost basis, as modified to include investment assets at fair value.

b) Fund accounting

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Norfolk Mills & Pumps Trust

Notes to the Financial Statements (continued)

For the year ended 31 March 2025

(c) Income

All income is included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Donations and legacies

Cash donations, subscriptions, grants, legacies, gifts and other similar income are included in full in the Statement of Financial Activities in the period in which the trust's entitlement is established.

Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.

(d) Expenditure

Expenditure is recognised on an accrual basis asa liability is incurred. Expenditure includes any VAT which cannot be recovered, and is reported as part of the expenditure to which it relates:

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource.

(e) Fixed assets

Leasehold properties have been capitalised at the trustee's reasonable estimate of their value to the Trust. No depreciation is charged as the amounts involved would not be material.

(f) Investment properties Property investments are included in the balance sheet at open market value based upon a valuation undertaken by TW Gaze on 7" December 2021.

(g) Cash at bank

Cash at bank and in hand includes cash and short term highly liquid investments with a long maturity of twelve months from the date of acquisition or opening of the deposit or similar account.

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Norfolk Mills & Pumps Trust

Notes to the Financial Statements (continued)

For the year ended 31 March 2025

(h) Debtors and creditors receivable/payable within one year

Debtors and creditors with no staled interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

4 Donations and legacies

2025 2024
General Designated Restricted Total Total
E £ £ £ £
Donations
Legacies		 592
-
592		 -
:
-		 100
-
100		 692
-
692		 656
571
1,227

During the year end 31 March 2025 income from donations and legacies was £692 (2024: 1,227), of which £100 (2024: £370) was restricted.

5 Charitable activities

Charitable activities
2025 2024
General Designated Restricted Total Total
£ £ z £ £
Admission to Mills 1,410 - - 1,410 2,821
NCC Management Charge 15,000 - - 15,000 15,000
NCC Contribution - . - - -
16,410 - - 16,410 17,821

During the year ended 31 March 2025 charitable activities was £16,410 (2024: £17,821) of which Nil (2024: £790) was restricted.

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Norfolk Mills & Pumps Trust Notes to the Financial Statements (continued)

For the year ended 31 March 2025

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|||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |6|Other Trading Activities|2025|2024| ||| |General|Designated|Restricted|Total|Total||| |££| |Rental|Income|17,100|-|-|17,100|16,545| |Sales|of Souvenirs|585|-|-|585|394||| |17,685|-|-|17,685|16,938| ||| |During|the|year|ended|31|March|2025|other|trading|activities|was|£17,685|(2024:|£16,938)|of| |which|Nil|(2024:|Nil) was|restricted.||| |7|Expenditure| |2025|2024| |General|Designated|Restricted|Total|Total|||

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7 Expenditure

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2025|2024| |General|Designated|Restricted|Total|Total||| |£|£|£|£|-| |Charitable|Activities| |Property|advice|-|-|-|-|-| |Professional|fees|-|-|-|-|2,160| |Survey|and|planning|fees|-|-|-|-|-| |Rates|and|council|tax|87|-|-|87|90||| |H&S|Fire|prevention|594|623|-|1,216|488| |Landscape|2,102|-|-|2,102|1,947||| |Lease|5|-|-|5|5| |Restoration|and|repairs|2,879|20,000|4,286|27,165|13,968| |Routine|maintenance|1,586|.|-|1,586|4,013||| |Small|equipment|155|-|366|§21|7| |Electricity|&|Gas|381|-|-|381|236| |Advertising|32|-|99|132|136| |Insurance|17,198|-|-|17,198|33,292| |Memberships|268|-|33|301|33|:| |Rental|Expenses|7,347|-|-|7,347|7,293||| |Other|expenses|151|-|-|151|102||| |Governance|cost|(see|below)|1,000|-|-|1,000|1,000|!| |33,785|20,623|4,784|59,191|64,769||| |Governance Costs||| |2025|2024| |General|Total|Total||| |£|£||| |Independent|Examination|1,000|1,000|1,000| |During|the|year ended|31|March|2025|charitable|activities|expenditure|was|£53,018|(2024:| |£64,769)|of which|£4,784|(2024:|£7,744) was|restricted.|||

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Norfolk Mills & Pumps Trust

Notes to the Financial Statements (continued)

For the year ended 31 March 2025

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||||| |---|---|---|---| |8|Employees|and|Trustees| |2025|2024| |Total|Total| |£|£| |Salaries & Wages|:|;| |Administration|-|-|

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The average number of part time monthly employees, excluding trustees, during the year was zero. No.employees received emoluments greater than £60,000.

No trustees were reimbursed for expenditure during the year. No trustees received emoluments during the year.

9 Tangible Fixed Assets

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Leasehold|Total| |Properties| |£|£| |Cost| |At|1|April|2024|and|31|March|2025|3,000|3,000| |Net|book value| |At|31|March|2025|3,000|3,000| |At|31|March|2024|3,000|3,000|

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The following lease properties are owned by the Trust:

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||||||||| |---|---|---|---|---|---|---|---| |2025|2024| |Total|Total| |£|£| |Seven|Mile|Diesel|Engine|Shed,|Reedham|-|-| |Little|Cressingham|Mill|(999|year|lease)|3,000|3,000| |High's|Mill,|Halvergate|(99|year|lease)|-|-| |Runham|Swim|Mill|-|-| |Reedham|Marsh|Steam|Engine|House|-|-| |Ashtree|Farm|-|-| |3,000|3,000|

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Norfolk Mills & Pumps Trust

Notes to the Financial Statements (continued)

For the year ended 31 March 2025

These property valuations represent a reasonable estimate of the properties’ current value to the trust. As this is the twentieth year that a balance sheet has been prepared, the properties have been capitalised sometime after acquisition and it is not possible to ascertain original costs.

The following properties are currently owned or leased by Norfolk County Council, but maintained by the trust:

Freehold properties

Billingtord Mill Boardman's Mill, How Hill Cadge's Mill, Reedham Clayrack Mill, How Hill Old Buckenham Cornmill Polkey's Mill, Reedham Stracey Arms Mill Turf Fen Windpump, How Hill

Leasehold properties

Gunton Park Sawmill Hobb's Mill, Horning Neave's Mill, Horning St Olaves Windpump

10 Investments

Investments
Investment
Property
£
Valuation
At 1 April 2024 560,000
Fair value movements 0
At31March2025 560,000

Investment property comprises of two cottages in Wicklewood, which were donated in 2008 and are included at market value based upon a valuation undertaken TW Gaze on 7" December 2021.

11 Debtors

Debtors
2025 2024
£ £
Debtor 11,405 19,205
Other Debtors 568 -
Prepayments 90
12,063		 158
19,363

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Norfolk Mills & Pumps Trust

Notes to the Financial Statements (continued)

For the year ended 31 March 2025

12 Creditors: Amounts falling due within one year

2025 2024
£ £
Other Creditors 27,457 24,812
VAT Creditor - 2,065
Receipts inAdvance -
—_27,457		 -
26,87

13 Reconciliation of Movement in Funds Year ended 31 March 2025

Year endedended 31 March 2025
Opening NetIncome/ Transfers/ Closing
Funds (Expenditure) Gains Funds
£ £ £ £
Restricted Funds
Billingford Mill 15,216 - - 15,216
Stracey Arms Mill 6,457 - - 6,457
Wicklewood Mill 10,000 - - 10,000
Other 15,718 (4,684) - 11,034
47,391 (4,684) - 42,707
Unrestricted Funds
General
Designated — Billingford Mill		 640,789
10,000		 902
-		 (2,400)
.		 639,291
10,000
Designated — Old Buckenham Mill 23,035 - - 23,035
Designated—Other
Total		 47,309
768,523		 (20,623)
(24,405)		 2,400
-		 29,085
744,118

Restricted Funds

Gunton Park Sawmill Funds received in 2024-25 of £100 donation from Your Golf Ltd.

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17

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Norfolk Mills & Pumps Trust

Notes to the Financial Statements (continued)

For the year ended 31 March 2025 ———L SS 13 Reconciliation of movement in funds (continued) Other There were no other restricted funds received in 2024-25.

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||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Unrestricted|Funds| |General|Fund|Funds|for|the|general|use|of the|Trust.| |Other|Designated|Funds|The|maintenance|fund|has|been|set|up|to|cover|any|unexpected| |maintenance|costs|which|arise.| |A|further|designation|was|made|by|the|Trustees|to|ensure|that| |sufficient|balances|were|held|for|projects|which|are|currently|being| |planned|or due to commence|in|the|near future.|

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Tangible|Current|Current|Current|Total| |Fixed|Assets|Assets|Liabilities| |Assets &|Cash|Other| |Investments| |£|£|£|£|£| |Restricted|Funds| |Billingford|Mills|.|15,216|-|-|15,216| |Gunton|Park|Sawmill|-|5|834|-|-|5|834| |Stracey Arms|Mill|-|6,457|-|-|6,457| |Old|Buckenham|Mill|.|200|-|-|200| |Other|-|15,000|:|-|15,000| |-|42,707|.|-|42,707| |Unrestricted|Funds| |General|563,000|91,685|12,063|(27,457)|639,291| |Designated|-|62,120|-|-|62,120| |Total|563,000|196,512|12,063|(27,457)|744,118|

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Norfolk Mills & Pumps Trust

Notes to the Financial Statements (continued) For the year ended 31 March 2025

14 Analysis of Assets Between Funds (continued)

As at 31 March 2024

Tangible Current Current Current Total
Fixed Assets Assets Liabilities
Assets & Cash Other
Investments
£ £ £ £ £
Restricted Funds
Billingford Mills - 15,216 . . 15,216
Gunton Park Sawmill - 10,485 33 - 10,518
StraceyArms Mill . 6,457 - - 6,457
Old Buckenham - 200 . - 200
Other . 15,000 - - 15,000
- 47,358 33 - 47,391
Unrestricted Funds
General 563,000 85,336 19,330 (26,877) 640,789
_
Designated		 - 80,343 - - 80,343
Total 563,000 213,037 19,363 (26,877) 768,523

Included in general unrestricted funds is £260,000 of non-distributable reserves relating to the 2016/17 and 2021/22 Wicklewood Cottages revaluations. 15 Preservation Work Scheduled for 2025/26

The following work is expected to be completed in the year to 31 March 2026 and beyond.

NWTGeneral Total
Funds
Ashtree Farm 531 531
Billingford Mill 477 477
Gunton Park Sawmill 300 300
Hobb’s Mill 154 154
Little Cressingham 154 154
Old Buckenham Mill 340 340
Polkey’s Mill 300 300
StraceyArms Mill 454 454
Runham Swim 300 300
St Olaves Mill 231 231
Total 3,241 3,241

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19

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Norfolk Mills & Pumps Trust

Notes to the Financial Statements (continued)

For the year ended 31 March 2025 SS

eee

16 Commitments Under Operating Leases

As at 31 March 2025 the Trust had aggregate annual commitments under non-cancellable operating as set out below.

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||||| |---|---|---|---| |2025|2024| |£|£| |Operating|leases|which|expire;| |After more than|5 years|5|5|

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17 Related Party Transactions

Little Cressingham. The Trust, incurred costs of £5 (2024: £5) due to Norfolk Historic Buildings Trust.

As at 31 March 2025 Nil (2024: £18,000) was owed from Norfolk County Council. Nil owing to or from Norfolk Historic Buildings Trust. 18 Financial Instruments

The carrying amounts of the Trust's financial instruments are as follows:

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|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |£|£| |Financial|assets|that|are|debit|instruments|measured|at|amortised| |cost;| |Other|Debtors|(note|11)|12,063|19,363| |Financial|liabilities|measured|at|amortised|cost;| |Other|Creditors|(note|12)|27,457|26,877|

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