THE TOWX IAILL TRIIST LYME RElaS REGisfERED CHARITY Ilo.. 1fj41614 COIIPANY No: 2982747 ACCOUNTS FOR ThE YEAR ENOED 31 OCTOBER 2020 *￿98GV1¥• 2310712021 COMPANIES HOUSE #320 THE TOWN MILL TRUST LYME REGIS INDEX Trustèes. Re￿Irt IndeFeiident examinerfs rewl Sialemenl ol financial a¢bvities Summary ol irKome &Jmmary ot expenditure Balance sheet Notes lo the Accounts 10 THE TOWN MILL TRUST LYME REL¥S TRUSTEES. REPORT FOR TME YEAR ENDED 31 OCTOBER 21Y20 The trustees present tr￿lT annual rewl wilh the ac£tyJnts ol the Company foi the year ended 31 Octc4)er 2020 LEGAL AND ADMINISTRATIVE INFORIIATION The Town Mill Tiust b5 a cc¥mpany &'milod by ￿arant8e aThJ is a registered Charity. The Charily Commission registr*KJn number 1$ 1041614 a￿1 thg ¢omp8ny iegistralh)n Nrnb8r is 2982747 registorgd in ÉWan(l and Wa19S. Principal a(hJre55 and registered oir￿e. The Town Mill. M￿[ Lane, Lyme Regi5, tknrsel. DT7 3PU. Bankers: CAF Bank Ltd. 25 Krys Hill Avenue. West MallirvJ. Kent. ME19 4JQ The Ccopefative Bank plc. PO Box 101. 1 Bak)r￿ Street. Manchesier, M60 3QE Solrilors: Scott Flo￿. Raymorxl House, 29 Broad Stiegt. Lymg Regis. DorsgL DT7 30E Indwrwjert èxaminer: Rosy Jellery Ltd. Chartered Certified Accountants, The Loft. Uni( 11. Hunthay Business P Axminsler. Devon. EX13 5RJ TRUSTEES AND GOVERNANCE The trustees in Offi￿ dLrriNJ th8 year were.. Sue Alkirtson Hilary Highel Robert M¢Laughl Jocelyn Bailey Arnlrew DavEs Al liustees ale membets of the ¢Wr￿Al ol ManageTh￿ are ￿s0 directOTS ol the Corwny. TH£ TOWN MILL TRUST LYIIE REGIS TRUSTEES, AEPOAT FOR THE YEAR EM)ED 31 OCT08ER 2020 (eoThtinuedl Struclurn. Go¥•manc• and ManageTh￿l The Trust is consliiutsd as a coThyany and th• gMmM4 is tr• ¢onwanl$ Kl8mtyandum arK1 Ar￿deS ol Assoriation. ¥all reswjnsibility Fes wdh the ol managen*ni. ¢t•tgmiin85 strate9y and and lakes malor decistons. Day lo day managerrRnt 15 delegated lo t1￿ Town Mill Slafl team. Tru61ee5 art usualty seleclod on personal re¢tynmendation. Therè 1$ rto ffoximurn tann for how long someone rnay f¢main a trustg?. ahhough one third of trusl¢g8 must rotir8 by folalion evèry year bui arg g1wJit￿e lor ra￿18¢￿0￿. Thg latter is done by a majority vote at Ihe AGM. Each new Iwslee is prowdeLI with infomialK)n at*xJl Ihe Tnjst induding a copy of Ihe cornpany's ￿￿o￿a￿dUM and Art￿e$. a copy ol the Charrty commks￿Or￿s trf)ctht on trustees, resFxJn5it¥lilie5 and a copy ol the most recent Cr￿panY accounts. Cornpanies House 150 seThd all new corrpany dire￿￿5 a copy tsf Ihpir booklèt ol dirEclLws' r&sp(￿S1￿.11tie$. ￿ trustees ret•i¥è trawmng from the Gha"i ol the Tru￿. The InJslees and Ihe stall learn ¢onbnue to keep Ihe vwiou5 w11c*￿ aTrl pr￿edureS on risk a55e5smeM updated. and training has been given on he*th and safety. Oblectlves and A¢llv Oblocts ol lh• Trugl obje¢ts of TnTrsi are: To secure Ihe westrvath"on, proiedion. developm*M aThJ MYtr￿n¢nt ol leatuies ol Ihe Towm Mill at Lym• Regis, indu¢JirKJ its ielated wateThrnys and en￿ron$. To ed￿ate ll* pu￿1¢ in the history ol Ihe arthitecture of the To*n and mils in general: To promota, impfovg. develop and mainta"n puL* •j￿￿"0n #) aThJ apw8ciat*)n ol th8 wsual. ￿￿OrMing and Yrritten arts in ￿1 their a¥eets: and To implement and wornote gcod en*1rOnn￿rta1 Fvactice. ThE TOWN MILL TRUST LYME REGIS TRUSTEES. REPORT FOA THE YEAR ENDED 31 OCTOBER 2020 {coni*And) Strategy To athieve these ¢Jbp¢bves. our¥7JrreN siraiegy is: To continue lo use the buildings and yte in ways fAthi¢h prowd* aments.es Iof the to￿ and ils visilors, and provide Incom8 for ihe Trust to meei the runnino ry)sts: To open the TO￿ regulaty to wsilors arKI 9rwb". To promote Iho Srt¢ as a e8rtrè lor hKJh quality kxal lood arnl drink ty rn?ans of wr t•narKi8s. patrons and evenls., To mount or facdrtalg $xhbitiorF in th8 IVKI galt8its by local and nalKJnal wtists,. To provh*e space for hxal arfi&s and cralt workws. Ih*•by a*0 enhanc*vJ the e>wrience ol *isilors to tho site: and To continue lo research aryl wThote Ihe hi40￿. ¥¢h•JlDgieal ethuik)nal aspects of lh8 sile. The fru*¢¢$' strategy has due regard to Ihe guklartt by fv chawity ¢on*n&S￿￿ on wtAle benaf Achlev•rnents and p•rfom*nc• The COVID-19 w￿lkI pandernic dedared in Fetsuary 2020 th on to have a severe impacl on The Town M'l Twsl. T working water mill and the gaueries dosed in mid March 2020 ak)ng with all Ihe pubk facing actiwies of the ienanls. As national rggvlations awowod. Ihg cornp*x rfrop8n￿ in a pho$￿ manner Ihè wothiNJ Vdtar mll r8main80 closod as 01 31 0￿9b￿r 2020. Thè OrgaThsal￿n and its tenants W￿re wJprArted by Ihe Govemmenfs COVI(>19 grants aThJ ernployee ludough stheme aThJ The Tnjsl successtully awlie¢J tow a Heritage Emergency Furtd Grani. Tr Trusfs pieviou5 financial pgrfryrn*Ke aTrJ rfs ab"Sty ￿ accoss SUPPOrt has resulled in Th¢ Trust Wgalhgriry th8 pa￿emiC to date *41h confidence that it ￿nE￿iUe to so thJrirrfJ its CQrninuiwJ impau in 2021. The Trustees ratified a Business pfan lor the Twst for the years 2014-2018 ar￿ a Cc*Je ol Ccfftduct lor Trustees in February 2014. These rernained rde¥anl year endiTrJ 31 Cktober 2019 and a of the lorward direcbon ol the Trust was *Ju¢ to comp￿Ie in 2020 txrt Ikn to COVILN19, Ihis ￿11 cornrAeie in 2021. In 5LPPOrt ol Ihe aeliwty, The Trust commissioned 2 5ttJdies trDm ethmal consullanis to support and inlorm Ihe loNard directyon of The Tnjst. Rtports on optic￿S and ￿tenti￿ l¢y tha dev￿c￿l￿1 aTrJ opiois arbj affj du* in ￿￿Y 2Q21. The tenants wrlhin thg ￿H1 ¢oMp￿X r8main an irnFonant part of the Twst. Thg tsnants ￿r61$t ot potter5. 8 micm brewery, seamstress, silversmilh, artlsts and 9raphi¢ designefs. The Town Mil Ans continue 10 occupy the CouFtyard Matthouse galleries. OesFite the d1ftlrth￿ ol the COV1￿19 pandtrn￿. al lenarts remain wJgtNe abwt their futUTa at The Town Mhl. Volunteers afe at the haart ol the cpefakn. $74)pJbng day to day running arnj woiects acffjss all aspe¢ls ol The Tovm Vill Trusvs acthwlies. Section 106 grant fvndirvJ was secured lor hvo ol the oulooor spaces al The Tovm Mill. a garden Wih a scu*tu￿ area was created in front ol Th¢ Mallhouse and Ihe paihways in the W"Il Garden were upgra(led to make Ihem more accessible to wheeled vehicle users. The lor these 2 proJe¢t$ was $uw)rted by our dedicated team of voluntew5. The SUFP(￿t tgarn c1￿1$ts OP Fmanc8 aThJ c(￿Oinat{￿. Sole sor￿ Coorthnator arbts Vtwtor Eypwigncg and Vohjnteer Leader. There ¥*rs no IW￿r￿1¥¢#. THE TOWN MILL TAUST LYME REGIS TRUSTEES. REPORT FOR THE YEAR ENDEO 31 OCTOBER 2020 (¢OntIn￿d) Flnanclal Re¥lew The overall resuth for the y•ar {net w￿MIr￿j resources belore translersl was a SUTF4us 01 £23,693, compared with a dglicf( of £6.670 in 2019. The surF4us on unrestricted funds Iwhich represent the day-to-day Ope1a￿nS of the Town Mill gtel was £28,345 compared th a deli￿ of £1.888 in 2019. The bank balance at the year end was £129,225 cofflpared with £65,632 in 2019. A￿èThe$ and reseN•s pollcy The Trust Is responsibte for the mintellar￿ of the Mill arKI ￿thOuSe sites, consislsng ol buildings and equipmenl with a re￿a¢ement cost of over £2 Mill￿n. We consthi it prudent lo eslablLsh and maintain reserves of abryjt £30.C(KJ fcK I￿￿5 and renewaL8 whith may be necessary. AlthO￿h The Trust were alle to access financi￿ support thriro the COVID-19 pandemic, this level ol reserves would have provKfjed a degree ol continuity. shm￿d the SUPFXJrt not have been availab￿. Plans lor fulure perlod¥ The truslees contwiue to ¢on5h*r Wa￿ ol devek¥ir#J arnl enhanciry Town sile, as well as maintaining the medievJ bu￿dingS. The current renewable and assKJnable lease ol The Courtyard Calé remains a significant barrier to expanding the Café and enharting the mill site. The cuttenl owner has exFYessed a desire lo sell the business arKI The Trusl are inve5tNJating whether il is teasible to purchase the lease aThJ re-gain control of the area, w4ilh ts view of granting a new lease. with a ligger lootFyinl lo a new Cale owne¥. The atjove repon has been prepared in accordance wilh the FWVi5iors in Part 15 01 th& Companies Act 2006 applicable lo companies subject lo small compwmps wme. Signed on behalf ol the Courtil ol Management 7HS4LL Robert M¢Laughlin Approved by Ihe Councl of Management on THE TOWN MILL TRUST LYME REGIS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report ￿ the accwnts of wryany lor the year eTrJe¢J 31 ¢XoL%r 2020 whith afe sel oul on pages 6 to 13. Respeciive responslblllues ollrust¢es and examlner The Iruslees l%tho are also the (Areutws of Ih? ccwwiy lor the kwrFWS ol c4Jmpany lawl are responsible lor Ihe ￿paratIOn ol the acuunts. The trustees C￿sId￿ ihat an audrt is nol required lor this year under seciion 144121 ol Ihe Charities Act 201 I (the 2011 Acii arnl that an independent oxaminalion is no8dod. l am qualili8d to underlake the examinat￿n by boing a qualit￿(j rnomb8r ol Iho Assc¢ial*)n ol Chartered Certifiods Accountants. Having sat151ied rnys911 that the charity 15 not s￿)j$C[ lo an a￿111 urKlpr ¢ompany law and 15 gJigit49 lor independent exarninab"on, il is rny resp)n$itslty to: examine Ihe aecounts under section 145 01 the 2011 A¢t" Idlow the procedures laNti down in the gene￿￿ Directions tyven ty the Charity C¢)mrnission lunder secbon 1451Sllbl of the 2011 P£1, as arlwded): and state whether parfthlar mallers have Come to my attenb"on. Basis ot independent e￿Ine￿5 report IAY eXa￿nation was ¢arried oul in awtsance with ￿Trer￿ DiredK>ns gNèn by the Charity Cornmisitsn. An exarrrirtation includes a review ol the accountirvJ records kepi by Ihe charity and a corwrison ol the accounts presented with those record5. It also Ir*ludes cortsideration ol any unusual items or disclosures in the accounts. a￿1 seekJ'ThJ explan*ion$ Irorn you as trustees concerning any sv¢h matt9rs. The procedures vrn1ertaken do rnt prowde all lh8 that wwky be requireo in an aLxdil, and consequently no opinion 1$ given as io whether the aL￿unIS present a knje and lairf view aThJ the port is limiied to IM)se matters set in Ihe Statement below. Independent examlnerfs sL*Thnl In conn8dion with my exarnination. no matter has come t¢ my aff¢ntion". 111 which gives reasonatle causo to bokg¥9 that in any material r05PKt, fv rgqu1rerT￿ts.' to keep a￿UM]￿J re¢ollls in acC￿￿a￿e with se¢D"on 386 01 the Cryrpan￿s Act 2006., and to prepare a￿Ounts which accord the a￿￿nting record5, ¥￿th the accounting requirements ol Sectiors 394 and 395 01 the Companies Acl 2006 ar¥J with the melhods and principl￿ ol Iho Accounting and Fl8POrtirs by Chariti"8s.' Statem•nl of Re¢ommètKlèd Pra¢li¢e apFlI￿le to charil*s prepan.ng their accounts in accorda1￿￿ with the Financial Rewting &andard applicable rn the UK and ol I￿larKI IFRS 1021 have r￿1 ken met., o 121 io which, in my opinKJn, atten￿1n shwkl b¥ ¢Yrawn in ord¢r w enabb a proF4r und8rsiar*Jing ol Ihe accounts to be reached. Oale.. 716121 R05y Jgttary Ltd Chartered Certilied Accountants THE TOWN MILL TRUST LYME REGIS STATEMENT OF FWANCIAL ACTMTIES YEAR ENDED 31 OCTOBER 2019 Totsl Rethlcled Unrealrf¢led Tolal IrLome and enthjwments (Foge 7) 146.597 146.597 118,415 Expendsiure Ipaye 8) 118.352 122,904 125.085 Nel incoTh* l(expenthturel 14,$521 28,245 16,6701 Funds brought lopKard 1 Novert¢r 2019 61.011 724,407 731.077 Transfer bets¥een funds Furvjs carried lomard 31 Cttot*r 2020 E658.844 £ 89.256 £748,100 £ 724,407 Contlnulng operallon$ All income and expenditure ha5 arisen from con11￿￿[￿j activili&s. ThE TOWN MILL TRUST LYME REGIS SUMMARY OF INCOME YEAA ENDED 31 OCTOBER 2ffal 2019 Towi Donatlons gnd legAcl•s Owabons Gilt ai Grdn15 IOi%abtsd l(xlEtI Grants IGardenl Grani$ (Natm)n￿ Heritèjel Gran15 (CovKI191 DJnaiioD for All C￿r5e Wai•Mknoel donaiws 14.212 t4212 4,470 4,470 10.507 10,S07 33.XJ) 33,3(￿1 28.088 28.088 8.170 8.170 2,8 Olhef trqdlng a¢ltht FundraiwJ wents IncorAe Imm charilable acti¥ths # WJM￿SIon IWS Mll SIK 3.837 3.837 2.873 2,8n 34.643 34.643 14.W 8,872 38.051 9,352 8.092 14,522 6,872 38.￿1 9.352 Art exhlyiiw crAnrni$5Tr2n (Wery hir8 8ThJ 8xhitrt*)n 1885 Xmas s8*s o)mmissTrJn and ￿a5 EdvGalhin roorn Wcrt5bops SeNce charges frtydrTrek¢lrr S¢hEme 356 517 10.257 2.101 517 10,257 2.101 4.518 1,981 4,518 1,981 65.821 Inv•stsrnrt in¢¢ 8￿K Irrtwe51 31 31 31 31 Totsl 146,597 146,597 1 t8.415 118,415 TIIE TOWN MLL TAUST RErJs SUMMAAY OF EXPENDrnIRE YEAR ENDEO 31 OUOBeA 2020 2019 expeDdliUte oh lalglng lunds Flour puichases FUTrJra1s￿￿ events 2.430 4.925 4.449 1,143 4,449 3.573 9.374 9.374 Exp¢ndllure On eharltthle •cUv#les Dlreei ¢o*is Maintena Di%atAed i01￿ts eipe 08W8c4alhin Shop costs Insurance Wat8r rai88 Heal. Iyhl and Statl costs Posiag6. siabonwy aTrl t8W Prol85ssw)nal faos T￿ Klill Arts Guikl Sur*ry 19,698 19.698 18.1S5 3,894 184 2.099 6.1e8 6.188 1.9 1.963 13,09S 13,096 46.944 46.944 2.357 2.357 18.135 215 4.767 4.782 4.966 6.149 1.891 13,424 13,424 .554 $0,554 1.671 11.368 6.149 11.368 5,143 1.991 5.143 1.991 271 Supporteo#¢8 Bank cThargES Book.keepw and acoJunthwJ Go¥emanc8 cosls 1,420 3.YJ5 1.390 2.8(X) LeBal fees Pubbeity 1,1(Kl 3.470 3.470 114.779 119 331 110.929 115551 118,352 722.9)4 4,782 120 THE TOWN kllLL TRUST LYME REGIS BALANCE SHEET YEAR ENDED 31 OCTOBER 2020 2019 Fixed assets Tangible assols veslmerts 652.624 656.767 Currwii 4￿1$ Stoths Debtois Cash at ba￿( in hand 6,732 12,761 136.457 78,893 Cre(Iltors: omounts tslhvj wlthln one year Nét euryent assets 95.475 Tolal ass•ts less curr•nt IWllilies 748.1 724,407 Net assets 748.1(Xl 724,407 Fund9 Unrestricted AesiwKiÈd 89256 61,011 663,396 10 748.100 724,407 Tha ithrectors ar& sallST￿ Ihat iho coNwny is enlilknj to exernpti￿ fr(xn the requir8m&nt to obtatn an audrt under se¢ts"on 477 ot the CoMpan￿S Acl 2￿6. Members have rK)i requiro(J Ihe coffparry lo oblain accordance *ith sectirm 476 01 the Aci. The directors athTh)wAeth3e thw'r TeSFwfybhlie5 for ￿)rr￿￿.ThJ vrfh thè rw"r•ments of th8 Companies Aci 2006 with rèspect lo accounting records aThl the weparation ol accounts. The a￿OUn13 have been prepared ift at£ordancè *ilti th& Pfovrsims in Part IS ol the COrnpan￿$ Act 20￿ a￿4￿able lo companies sutieGI to Ihe snwll c(Nnpanie5 reginE. gned on behall ol the Irusiees ?llSfyM Rotert mCLa￿lIn AH)roved by th* C￿nCil of Managernent on ......... THE TOWN MILL TRUST LYME REGIS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2020 1. Statutory kntorniatlon The Town Mrfl Trust Lyme Regis is a registeréd charity arkl pwate eompany limited by guarantee wth no share eawal. incorwaled in England aThJ Wales. The registered ottice is The Town Mill. Mill Lang. Lyrnè Regi5. t>Nset. DT7 3PU. The natu￿ of ltte charitable companls operatsons and activilies ss disclosed wrlhin the Rel￿ ol the Trustees. The financial statements are presented in Steffjng (£1, tr* compatys functional currerw, and rounded to Ihe nearest pourKI. The signilicarbt acC￿ntir￿j Fdrues apph'ed in Ihe preparaiK)n ol these linaftci￿ slalemenls are sel out bebw. These poliei#s have been consistentty appl￿d lo am years presented unless olheThMse slated. 2. Accountlng Polleles (a) Basls of preparlng the lin•n¢i•l The fina￿la1 statements of the charrtable cornpany. which is a putlic benefit entty undèr FRS 102, have been prepared in accordance wrth the Charilies SORP IFRS 1021 'Accounl*r¥J and Reporbng by Charilie5'. Statement ol Re¢ommerKled PractKe applic*e lo charits'es rxeparing their a¢¢ounts in accordance wth the Financkil Rep)rting Starbyard applicable in UK and Republic ol Ireland IFRS 1021 lelledive 1 January 2015).. Fir￿￿1￿ Reporting Standard 102'The FinarKial Rep￿tIng StarKJard aFplicable in the UK and Rewblic of Ireland. and the Compari8S Act 2006. The financial staternent5 have been wepared under the histor￿al cost convention. The T¢yvn Mill Trust Lyme Regis meets Ihe delinrtion (rf a pUb￿.C benefrt enbty as demonsiiated within the Report ol the Trustees. There have been no material depanures Irom FinwKiaF ReWir¥J SlaThYard 102. bel*￿ fvnds Mill Fund Mamous8 Fu￿1 Garden Fund Leai Resitya1r￿ FLffid tyilro 88cirb¢ E(•JpYw4 408￿76 139204 486.076 139.20¢ 14 8,622 14 unres1￿8(1.1ul¥J5 416 89,256 652ffj24 95.476 748.1 11. Conllngtnt 1obllNI** The mill b￿￿ding5 *ould ￿vert to Wesi L%2rnet lJstrf￿I Icrf M consAYeraion rf corfenaAts rogwrfro their u$e ¢￿￿led Tr*ith. or il tt* Tr￿1 allery￿ to S81 th8m b8fcKe the year 207S. These buil￿r¥j$ are Iherefor8 held s8paratdy *iifrin Ihe K*"Il tuTrl Lottery grants r￿￿ed for th8 resioraii)Tr 01 Ihe bjrfdngs 01 £240.00) beuJry* repW d the *pre sobj LY were vsed lor pupxes not apprDVtrJ ot by ihe NattOn￿ Lotsy. 13