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← Stotfold Mill Preservation Trust

2024-12-31-accounts

1

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

LEGAL AND ADMINISTRATIVE INFORMATION

Status

The company is limited by guarantee. The company is a registered charity under the Charities Act 1960. The trustees act as directors of the company for the purposes of the Companies Act 2006 and as a Management Committee.

Registered Company Number

4118651

Registered Charity Number

1086392

Management Committee

J. Saunders K. Balderstone M. Wake J. Hunt R. Coulthard D. Burt (appointed 20.8.24)

Secretary

J. Hunt

Chairman

J. Saunders

Registered Office

Stotfold Mill, Mill Lane, Stotfold, Hitchin Herts SG5 4NU

Operation address

Stotfold Mill, Mill Lane, Stotfold, Hitchin Herts SG5 4NU

Accountants

Baldwin & Co. Chartered Certified Accountants 22, Bernard Crescent, Hunstanton Norfolk PE36 6ER

Bankers

HSBC CAF Bank

2

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE MANAGEMENT COMMITTEE

The management committee present their annual report together with the financial statements for the year ended 31st December 2024. The financial statements are prepared in accordance with the provision of the SORP FRS102 together with update Bulletin 1 “Accounting and Reporting by Charities” issued in July 2014.

Constitutional Information

The Charity was incorporated on 1 December 2000 as a company limited by guarantee. It has been registered as a charity since 30 April 2001. The members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up.

The governing documents currently in force are the Memorandum and Articles of Association.

Trustees are appointed by the Board, subject to approval at the following Annual General Meeting. At every AGM one third of the serving Trustees retire by rotation on the basis of longest service retires first but may offer themselves for re-election.

MANAGEMENT OF THE CHARITY AND RISK MANAGEMENT

Management

The names of the Trustees who served during the year are set out on page 1.

Full board meetings are held six-weekly with ad-hoc meetings being held as and when necessary.

Sub groups are established as required to investigate specific requirements and advise the Board of their recommendations. The Board is responsible for the final decision making.

Objects

The company is a charity and exists to preserve, develop and maintain Stotfold Mill, a building of special architectural and historical interest, as a working watermill and display of rural life artefacts, for the education and benefit of the public, It also exists to manage the conservation, protection and preservation of the adjacent Stotfold Nature Reserve and in doing so provide for the care and management of the reserve and the education of the public in the understanding, appreciation and enjoyment of the flora and fauna of the reserve.

Risk review

The management committee has conducted its own review of the major risks to which the charity is exposed and systems have been established to mitigate these risks. Internal cost risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

3

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

REVIEW OF THE MANAGEMENT COMMITTEE

Investment policy

The committee has considered the most appropriate policy for investing funds and has found that a high interest bank deposit account is the most suitable for its purposes and meets the requirement for security of investment as well as providing an element of investment income as interest.

Responsibilities of the Trustees

Company law 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 charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the trustees should follow best practice and:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Members of the Management Committee

Members of the management committee, who are directors for the purposes of company law and trustees for the purposes of charity law, who have served during the year and up to the date of this report are set out on page 1.

Accountants

A resolution for the reappointment of Baldwin & Co. as accountants of the company is to be proposed at the forthcoming annual general meeting.

Small Company Rules

These accounts have been prepared in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities and in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006.

By order of the board

J. Hunt

Trustee

4

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS

Volunteers

Brian Saunders took on the role of organising the volunteers at the beginning of 2024, new projects were planned for the Mill and volunteers, one being the inclusion of the Mill at the new Council organised Stotfest in July. The new marketing team managed to produce another successful recruitment campaign and enhance further the Mill’s profile on social media. Marketing of the Mill was well presented at both fund-raising events with the addition of an information tent positioned in front of the main entrance, which has now become a permanent feature. We currently have over 100 volunteers covering the Mill activities and the major events.

Milling Equipment

It was a good year for the milling team. We produced a large quantity of fine wholemeal flour. The sales of the flour have been good and we have managed to sell all the flour that we produced, both wholemeal and white as well as rolled oats. We have done a lot of milling demonstrations on open days and also for visits by children’s groups and adult groups, more than last year. There were enough milling volunteers to help, although mostly of a mature age. Attempts to attract younger volunteers proved to be difficult but it is hoped that things will change in 2025. The machinery worked well and has received constant maintenance. It is however envisaged that parts will need to be replaced and extensive repairs will be needed in the foreseeable future.

Nature Reserve

We were formally judged for the Green Flag this year with a very understanding judge happy to don a pair of wellies and brave the mud of meadow 3. He was impressed with the overall condition of the Nature Reserve, noting works were underway to replace the boardwalk, and once again we were proud to receive our Green Flag. The Nature Reserve boardwalk was in desperate need of repair but after a wet spring and issues with illness we were left in limbo with no access available around the southern end of meadow 3 over the summer. Finally, it was decided to pay for the works to be completed so we would have a circular route once more. The materials had been provided already as part of funding available from the Etonbury Green Wheel so it was just labour that needed to be paid for. There is still more boardwalk which needs to be replaced but at least people could once again access the full route around meadow 3.

We also took delivery of an oak otter sculpture. Very heavy but a cute little chap adding to the interest around Johnstan's wood play area. TEASEL continue to do a great job of caring for the reserve, one job being to shift a tractor trailer load of woodchip from the car park to the paths around the reserve, too many barrow loads to count! The memorial copse in meadow one had another tree added to it to commemorate Geoff, a TEASEL volunteer, and all trees are doing well.

Visitor Numbers

The Mill was open to the general public on selected days during March to October 2024 and numbers were still down on pre-pandemic levels. The Steam Fair and Country Show in May attracted the largest amount of visitors with just over 8K visitors whilst the October event only had 3.5K visitors which was well down on previous years.

Ivel Conference Room

There were a few private functions during the year and exhibitions but the room was again mainly used for educational visits and internal meetings. It is hoped to attract more groups and clubs in the coming year.

5

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS

Literature and Website

Leaflets and programs were produced for the events within the Mill and for May and October. The new marketing group helped the Mill expand its capacity for producing literature and publications. The web site was maintained and kept up to date during the year and proved to be a great marketing tool, with lots of hits from all over the world.

Guides

A volunteer afternoon was organised during the year and we were able to welcome a few new guides to help with tours of the Mill, it is hoped that some more will come forward during 2025. Once again, there were some tours of the Mill during the year and guides were always available to show people round. Response from visitors has been positive and hoped that we will be welcoming even more groups and visitors during 2025.

Archive

The Archive Group put on several displays within the Mill for the 2024 season. Work continued on the on-line collection database and a complete audit of items, images and database is ongoing. It is still planned to transfer all the data to a new platform once the audit has been completed and our records updated.

Art Events

The Stotfold Art Group staged an exhibition over two days in July; hopefully we will be able to hold more events in the future.

Steam Fair and Country Show.

The weeks before the Steam Fair and Country Show again saw a lot of heavy rain, which left areas of standing water on the field, putting on the show again proved a challenge for the volunteers. The weather did improve for the weekend and despite both days, starting off overcast, the sun did come out and we had a successful show. Live @ The Mill was again sold out on the Friday night and visitors over the weekend were entertained with arena acts including Stuntworld, the Rockets child Motorbike display team, Paws for Thought a dog display act, a local dance group, the ever popular Steam Tug of War and a Steam parade. This year saw the second year of the Mill sponsored large Kids Zone, which again proved to be very popular. 8K visitors attended the show, which was the same as the previous year and the event made close to £70K.

Working Steam Weekend

In October, we had rain during the setup of the event, which left the field wet and muddy. Saturday proved to be the most popular day with prolonged sunny periods but the rain returned on the Sunday drastically reducing the number of visitors. Trade pitches and exhibitors were down this year as we had a lot of cancellations due to the weather forecast, our independent caterers like the Fish and Chip trailer from Cromer were however back by popular demand. The show put on a display of Tractor pulling, 25 large steam engines, 26 smaller engines and 67 along with numerous other vintage vehicles. The Sheep Show had to be cancelled due to an outbreak of Bluetongue but we were able to put on a display of Steam Ploughing in a separate field, which again featured the two rare Steam Engines that were destined to be shipped to the United States of America. The weekend only attracted 3.5K visitors, which meant profits were down on the previous year and we made a profit of approximately £9K.

Randall’s Tea Room

2024 was another successful year and our profits were up on 2023. We purchased new chairs in March and they have certainly smartened up the Tea Room. We had twice as many adult group visits compared to the previous year, which we were pleased with. We continue to serve our very popular creams teas and cakes as well as soup and rolls.

6

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS

Kingfisher shop

The shop had a successful year again. Mrs Darlington’s Jams and Pickles are proving very good sellers; they come with complimentary recipe cards for the various products. Giftware also sold well; again, we had a new supplier with better quality items.

Honey was quite scarce due to a problem with bees dying, but we managed to source enough to keep the customers happy.

Education

The first visit in April 2024 began with 28 Home Schooled children of various ages visiting the Mill and Nature Reserve for the day undertaking various activities in each area. Also in the same month was a Mill Tour by a Brownie Pack. May was very popular for pond dipping for 3 different Cub Packs and 2 different Beaver Colonies.

8 classes from 5 different schools visited in June. 4 schools came for a day visit and did activities in the Mill and Nature Reserve linked with the topic the children were studying in class. One school had 3 classes visiting the Mill linked with their topic of study and went into the Nature Reserve to look at the river by themselves. The cost of coaches meant that it wasn’t cost effective for each class to spend the day at the Mill and Nature Reserve. The month finished with a Brownie Pack pond dipping.

July began with a school visit with Reception Class children to the Mill and Nature Reserve for the day. Then 2 classes from another school had a Mill visit linked with a topic they were studying. July finished with a pond dipping visit by a cub Pack.

In October Rainbows visited the Mill, while in November 2 Beaver Colonies experienced Kitchen Science working for their Science badge. The Mill and Nature Reserve activities are linked to relevant badges the Beavers, Cubs and Brownies are working towards.

The members of the Education Team provided badge making at the Mill’s 2 main Fund Raising Events in May and October. Also they had a stall selling flour and oats as well as providing badge making at several air shows at Shuttleworth and provided similar activities at the Bedfordshire Steam Show this year. The Leaders of the Education Team regularly attend Museums’ meetings for Bedfordshire and Hertfordshire throughout the year. Members of the Team met socially for a meal during the year.

Future Developments

The Mill chimney is in need of repair and plans to replace the broken bricks and re-point it with a lime motor will have to be put in place early on in the New Year. Concerns with water levels at the Mill, which developed with the re-introduction of the temporary sluice by one of our neighbours did not cause any major issues during the year and it is hoped that milling can continue without interruption. The Mill is still working on attracting more volunteers and especially new Trustees to help move the Mill forward. The two major events continue to be the main source of income for the Mill and plans are already in place for the coming year, which will be our 21st May show. The Nature Reserve is a great asset to the Mill and sections of the boardwalk were replaced during 2024, it is hoped that the remainder of the damage boardwalk will be replaced during 2025. Visitor numbers are always a concern and we are confident that the marketing team will be able to attract more visitors to the Mill during 2025.

7

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

NUMBER OF COMPANY - 4118651

YEAR ENDED 31ST DECEMBER 2024

PUBLIC BENEFIT STATEMENTS

The Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit arising from the work that the charity undertakes in order to achieve the objects.

All income that is obtained whether by Grant, Local Fundraising or Donations is utilised in furtherance of the objects.

The Trust is run totally by volunteers who give their time and skills to enable the Mill to be opened to the public.

Having completed the restoration of the Mill in 2023 the Trust is now concentrating on maintaining and operating the Mill and Nature Reserve for the benefit of the general public.

Specific Public Benefits are:

The Watermill

The Trust exists to develop and preserve an historic building such that the public can see and understand how milling was carried out from circa 1820. Entry to the Mill is free, ensuring that no one is at a disadvantage if they are unable to pay. All members of the public (including people with disabilities) can access and view all displays and exhibits.

Education - As well as involving schools through the Education Team, the Trust also offers pre-booked and ad-hoc guided tours of the Mill.

Community Involvement - The Trust is dependent upon volunteers and through the Volunteer Support Team provides a means for people to become involved in their community

The Nature Reserve

There is no charge for members of the public who wish to visit the Reserve. Wherever possible the Trust makes the entire area accessible to all.

Education – Guides are trained to escort people through the Reserve whilst giving an explanation of the flora and fauna. This is an additional resource for school visits.

Recreation – The Nature Reserve provides a fine facility for families and individuals to enjoy an interesting and pleasant country walk.

8

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

NUMBER OF COMPANY - 4118651

YEAR ENDED 31ST DECEMBER 2024

REPORT OF THE INDEPENDENT EXAMINER TO THE MEMBERS OF STOTFOLD MILL PRESERVATION TRUST

I report on the accounts of the company for the year ended 31st December 2024, which are set out on pages 10 to 14.

Respective responsibilities of management committee and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charities trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (The Charities Act”) and that an independent examination is needed

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as directors concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair” view and the report is limited to those matters set out in the statement below.

9

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

NUMBER OF COMPANY - 4118651

YEAR ENDED 31ST DECEMBER 2024

REPORT OF THE INDEPENDENT EXAMINER TO THE MEMBERS OF STOTFOLD MILL PRESERVATION TRUST (continued)

Independent examiner’s statement

In connection with my examination, no material matters have come to my attention which give me cause to believe that, in any material respect:

I 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.

J M BALDWIN FCCA CTA CHARTERED CERTIFIED ACCOUNTANT BALDWIN & CO. 22, BERNARD CRESCENT HUNSTANTON NORFOLK PE36 6ER

DATE: 8TH APRIL 2025

10

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31ST DECEMBER 2024

Unrestricted
Funds
Notes
Incoming resources
Fundraising
156,304
Tea Room and merchandising
14,496
Donations and misc. income
1
2,974
Investment income and interest
9,177
Total incoming resources
182,951
Resources expended
Cost of generating funds
Fund raising
77,263
Tea Room and merchandising
7,167
Charitable expenditure
Nature Reserve
6,207
Management and administration
Operating costs
31,412
Depreciation
5,131
Total resources expended
127,180
Net incoming resources
-Net surplus for the year
2
55,771
Net movement in funds
55,771
Total funds 31st December 2023
416,219
Total funds 31st December 2024
471,990		 Total
Funds
2024
156,304
14,496
2,974
9,177
182,951
77,263
7,167
6,207
31,412
5,131
127,180
55,771
55,771
416,219

471,990		 Total
Funds
2023
155,434
14,517
12,105
6,255
188,311
76,411
8,183
2,337
30,201
5,888
123,020
65,291
65,291
350,928
416,219

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

11

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET

AS AT 31ST DECEMBER 2024

Notes
FIXED ASETS
Tangible assets
4
CURRENT ASSETS
Stock
Cash at bank and in hand
Contingency reserve bank deposit
Debtors and accrued income
5
CREDITORS
Amounts falling due within one year 6
NET CURENT ASSETS
FUNDS AND RESERVES
Capital Reserve
8
Contingency Reserve
9
Unrestricted Funds
1,450
456,354
50,000
2,173
509,977
5,180




 2024
2,811,192
504,797
3,315,989
2,793,999
50,000
471,990
3,315,989
1,577
391,656
50,000
9,133
452,366
5,256




 2023
2,813,108
447,110
3,260,218
2,793,999
50,000
416,219
3,260,218

For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities

J. Saunders

Directors

K. Balderstone

Approved by the board on 8th April 2025.

The notes appearing on pages 12 to 14 form part of these financial statements.

12

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:-

Basis of accounting

The accounts have been prepared under the historical cost convention and in accordance with the FRS Section 1A Small Entities – The FRS applicable in the UK and Republic of Ireland and the Companies Act 2006 and follow the recommendations in Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102) together with Update Bulletin 1.

Stotfold Mill Preservation Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Reconciliation with previous Generally Accepted Accounting Practice In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required.

Donations

Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. The values of services provided by volunteers has not been included. Donations received were all general donations.

Income

Incoming resources from fund raising activities and sales and from investments are included when receivable.

Expenditure

Resources expended are recognised in the period in which they are incurred.

Depreciation

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their anticipated residual value, over their expected useful lives on the following basis:

Nature Reserve Equipment 25% reducing balance Office and Site Equipment 20% reducing balance

No depreciation is provided for on freehold land and buildings.

13

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

Funds

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.

2. NET INCOMING RESOURCES FOR THE YEAR

This is stated after charging:

Depreciation 2024
5,131		 2023
5,888

3. TAXATION

The charitable company is exempt from corporation tax on its charitable activities.

4. TANGIBLE FIXED ASSETS

Office &
Nature
Security
Reserve &
Equipment
Equipment
Cost
At 31 December 2023
73,253
37,699
Additions
3,215
-
At 31 December 2024
76,468
37,699
Depreciation
At 31 December 2023
67,473
24,371
Charge in year
1,799
3,332
At 31 December 2024
69,272
27,703
Net Book Value
31 December 2024
7,196
9,996
31 December 2023
5,780
13,328		 Freehold
Land &
Buildings
2,794,000
-
2,794,000
-
-
-
2,794,000
2,794,000		 Total
2,904,952
3,215
2,908,167
91,844
5,131
96,975
2,811,192
2,813,108

14

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

5. DEBTORS

5. DEBTORS
Prepayments and accrued income

All debtors fall due within one year.		 2024
2,173		 2023
9,133

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accruals and deferred income 2024
5,180		 2023
5,256

7. ANALYSIS OF NET ASSETS BETWEEN FUNDS

All assets and liabilities relate to the General Funds. The charitable company has no Designated Funds nor Restricted Funds.

8. CAPITAL RESERVE

The Capital Reserve of £2,793,999 arises from the revaluation of the Mill based on a professional valuation carried out in June 2023 and is non distributable.

9. CONTINGENCY RESERVE

The Contingency Reserve of £50,000 has been set aside in order to cover any unforeseen circumstances which may affect the running of the Steam Fair and Country Show and the Working Steam Weekend.

10. MOVEMENT OF FUNDS

Unrestricted
Total
Funds Funds
At 1st January 2024 416,219 416,219
Incoming Resources 182,951 182,951
Outgoing Resources (127,180) (127,180)
At 31st December 2024 471,990 471,990

15

STOTFOLD MILL PRESERVATION TRUST

(A COMPANY LIMITED BY GUARANTEE)

INCOME AND EXPENDITURE ACCOUNT

YEAR ENDED 31ST DECEMBER 2024

FUNDRAISING
Income
156,304
Expenditure
77,263
TEA ROOM
Income
8,996
Expenditure
3,585
MERCHANDISING
Income
5,500
Expenditure
3,582
Other income donations and gifts
Bank interest
EXPENSES
Repairs renewals and maintenance
10,787
Insurance
5,848
Marketing, computer and website expenses
1,288
Light and heat
5,024
Telephone
1,220
Water rates
696
Printing postage and stationery
417
Nature Reserve
6,207
Archive costs
190
Accountancy
3,300
Sundry expenses
173
Bank and credit card charges
2,469
Depreciation of office and security equipment 1,799
Depreciation of Nature Reserve equipment
3,332

 2024
155,434
76,411
79,041

8,622
3,421
5,411
5,895
4,762
1,918
2,974

9,177
______

98,521

6,702
5,472
2,682
6,929
1,179
424
201
2,337
144
3,000
971
2,497
1,445
4,443
42,750

55,771
 2024
155,434
76,411
79,041

8,622
3,421
5,411
5,895
4,762
1,918
2,974

9,177
______

98,521

6,702
5,472
2,682
6,929
1,179
424
201
2,337
144
3,000
971
2,497
1,445
4,443
42,750

55,771
 2023


79,023


5,201


1,133
12,105
6,255
_
103,717














38,426
65,291


8,622
3,421
5,895
4,762



6,702
5,472
2,682
6,929
1,179
424
201
2,337
144
3,000
971
2,497
1,445
4,443