STOTFOLD MILL PRESERVATION TRUST TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
Baldwin & Co. Chartered Certified Accountants 22 Bernard Crescent Hunstanton Norfolk PE36 6ER
Stotfold Mill Preservation Trust Contents
| Page | |
|---|---|
| Trustees' Report | 1—2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities (including Income and Expenditure Account) | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6—10 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Statement of Financial Activities (including Income and Expenditure Account) | 11—12 |
Stotfold Mill Preservation Trust Company No. 04118651 Trustees' Report For The Year Ended 31 December 2025
The trustees present their report and the financial statements for the year ended 31 December 2025.
Objectives and Activities
Aims and Objectives
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 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.
During the year the Mill chimney was repaired at significant cost and sections of the boardwalk in the Nature Reserve were also repaired or replaced where necessary.
The two major events in May and Ocotber continue to be very popular and the principal source of income albeit profits being heavily reliant upon good weather.
Public Benefit
The Mill and Nature Reserve are open to the public all year round weather permitting with organised tours and attractions. Entry 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. As well as involving schools through the Education Team, the Trust also offers pre-booked and ad-hoc guided tours of the Mill and the Reserve.
The Trust is dependent upon volunteers and through the Vonunteer Support Team provides a means for local people to become involved in their community.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
Reference and Administrative Details
Trustees
Mr M Wake Mr K Balderstone Mr J Hunt - Company Secretary Mr R Coulthard Mr J Saunders - Chairman Mr D Burt
Charity Number
1086392
Company Number
04118651
Independent Examiner
J M Baldwin FCCA CTA Baldwin & Co. Chartered Certified Accountants 22 Bernard Crescent Hunstanton Norfolk PE36 6ER
Page 1
Stotfold Mill Preservation Trust Trustees' Report (continued) For The Year Ended 31 December 2025
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mr J Hunt
Trustee 03/04/2026
Page 2
Stotfold Mill Preservation Trust Independent Examiner's Report to the Trustees of Stotfold Mill Preservation Trust For The Year Ended 31 December 2025
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.
Responsibilities and Basis of Report
As the charity trustees of the Company (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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).
I 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.
J M Baldwin FCCA CTA 03/04/2026 22 Bernard Crescent Hunstanton Norfolk PE36 6ER
Page 3
Stotfold Mill Preservation Trust Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 December 2025
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Other trading activities 4 Investments 5 EXPENDITURE ON: Raising funds 7 Charitable activities: 7 To preserve, develop and maintain Stotfold Mill NET (EXPENDITURE)/INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 15 |
2025 Unrestricted funds £ 1,024 158,311 8,336 |
2024 Unrestricted funds £ 741 173,315 9,177 |
|---|---|---|
| 167,671 | 183,233 | |
| (111,610) (70,425) |
(110,468) (16,994) |
|
| (182,035) | (127,462) | |
| (14,364) | 55,771 | |
| (14,364) 3,315,989 |
55,771 3,260,218 |
|
| 3,301,625 | 3,315,989 |
The notes on pages 6 to 10 form part of these financial statements.
Page 4
Stotfold Mill Preservation Trust Balance Sheet As At 31 December 2025
| Notes FIXED ASSETS Tangible Assets 11 CURRENT ASSETS Stocks 12 Debtors 13 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 14 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY Unrestricted Funds TOTAL FUNDS 15 |
Unrestricted funds £ 2,809,434 |
Restricted funds £ - |
2025 Total funds £ 2,809,434 |
2024 Total funds £ 2,811,192 |
|---|---|---|---|---|
| 2,809,434 1,250 4,014 491,415 |
- - - - |
2,809,434 1,250 4,014 491,415 |
2,811,192 1,450 2,173 506,354 |
|
| 496,679 (4,488) |
- - |
496,679 (4,488) |
509,977 (5,180) |
|
| 492,191 | - | 492,191 | 504,797 | |
| 3,301,625 | - | 3,301,625 | 3,315,989 | |
| 3,301,625 | - | 3,301,625 | 3,315,989 | |
| 3,301,625 | 3,315,989 | |||
| 3,301,625 | 3,315,989 |
For the year ending 31 December 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr J Hunt Trustee 03/04/2026
Mr J Saunders Trustee
The notes on pages 6 to 10 form part of these financial statements.
Page 5
Stotfold Mill Preservation Trust Notes to the Financial Statements For The Year Ended 31 December 2025
1. General Information
Stotfold Mill Preservation Trust is a company limited by guarantee, incorporated in England and Wales, registered number 04118651 and registered charity number 1086392. The registered office is Stotfold Mill, Mill Lane, Stotfold, Hitchin, Herts SG5 4NU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The charitable company is a Public Benefit Entity as defined by FRS 102.
2.2. Incoming Resources
Income is recognised when receivable. Income received in advance or subject to conditions is deferred until the conditions are met.
2.3. Resources Expended
Resources expended are recognised in the period in which they are incurred. Expenditure includes any costs that support the charity's charitable activities, fundraising or governance, whether paid or payable.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0 Office & Security equipment 20 Nature Reserve and Equipment 25
No depreciation is provided for on freehold land and buildings.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the statement of financial activities. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the statement of financial activities.
2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.7. Taxation
The charity is exempt from tax as all its income is charitable and applied for charitable purposes.
Page 6
Stotfold Mill Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
- Income from Donations and Legacies
| 3. Income from Donations and Legacies |
|||
|---|---|---|---|
| Donations and gifts 4. Income from Other Trading Activities Fundraising events Tea Room sales Income from merchandising 5. Investment Income Bank interest receivable 6. Net Income/(Expenditure) The net (expenditure)/income is stated after charging/(crediting): Depreciation of tangible fixed assets - owned 7. Analysis of Expenditure Raising funds To preserve, develop and maintain Stotfold Mill |
Activities undertaken directly £ 86,213 - |
2025 Unrestricted funds £ 1,024 |
2024 Unrestricted funds £ 741 |
| 2025 Unrestricted funds £ 143,273 9,663 5,375 |
2024 Unrestricted funds £ 158,819 8,996 5,500 |
||
| 158,311 | 173,315 | ||
| 2025 Unrestricted funds £ 8,336 |
2024 Unrestricted funds £ 9,177 |
||
| 2025 £ 4,483 |
2024 £ 5,131 |
||
| Support costs (see note 8) £ 25,397 70,425 |
2025 Total £ 111,610 70,425 |
||
| 86,213 | 95,822 | 182,035 |
Page 7
Stotfold Mill Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
| Raising funds To preserve, develop and maintain Stotfold Mill . Support Costs Premises expenses General administration Depreciation Interest payable Premises expenses General administration Depreciation Interest payable . Independent Examiner's Remuneration Independent examination of the financial statements |
Activities undertaken directly £ 84,712 - |
Support costs (see note 8) £ 25,756 16,994 |
2024 Total £ 110,468 16,994 |
|---|---|---|---|
| 84,712 | 42,750 | 127,462 | |
| Raising funds £ 5,079 13,539 4,483 2,296 |
To preserve, develop and maintain Stotfold Mill £ 51,901 18,524 - - |
2025 Total £ 56,980 32,063 4,483 2,296 |
|
| 25,397 | 70,425 | 95,822 | |
| Raising funds £ 5,720 12,436 5,131 2,469 |
To preserve, develop and maintain Stotfold Mill £ 10,787 6,207 - - |
2024 Total £ 16,507 18,643 5,131 2,469 |
|
| 25,756 | 16,994 | 42,750 | |
| 2025 £ 3,360 |
2024 £ 3,300 |
8. Support Costs
-
Independent Examiner's Remuneration
-
Average Number of Employees
Average number of employees during the year was: NIL (2024: NIL)
Page 8
Stotfold Mill Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
11. Tangible Assets
| Cost or Valuation As at 1 January 2025 Additions As at 31 December 2025 Depreciation As at 1 January 2025 Provided during the period As at 31 December 2025 Net Book Value As at 31 December 2025 As at 1 January 2025 |
Land & Property Freehold £ 2,794,000 - |
Office & Security equipment £ 76,468 2,725 |
Nature Reserve and Equipment £ 37,699 - |
Total £ 2,908,167 2,725 |
|---|---|---|---|---|
| 2,794,000 | 79,193 | 37,699 | 2,910,892 | |
| - - |
69,272 1,984 |
27,703 2,499 |
96,975 4,483 |
|
| - | 71,256 | 30,202 | 101,458 | |
| 2,794,000 | 7,937 | 7,497 | 2,809,434 | |
| 2,794,000 | 7,196 | 9,996 | 2,811,192 |
| The freehold land and buildings (the Mill) was revalued professionally in June 2023 at £2,794,000 resulting in Reserve of £2,793,999. 12. Stocks 2025 £ Stock 1,250 13. Debtors 2025 £ Due within one year Trade debtors 64 Other debtors 3,950 4,014 14. Creditors: Amounts Falling Due Within One Year 2025 £ Accruals and deferred income 4,488 |
a Revaluation 2024 £ 1,450 |
|---|---|
| 2024 £ - 2,173 |
|
| 2,173 | |
| 2024 £ 5,180 |
Page 9
Stotfold Mill Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
15. Movement in Funds
| Unrestricted funds General: General unrestricted fund Total funds Unrestricted funds General: General unrestricted fund Total funds |
As at 1 January 2025 £ 3,315,989 |
Income £ 167,671 |
Expenditure £ (182,035) |
As at 31 December 2025 £ 3,301,625 |
|---|---|---|---|---|
| 3,315,989 | 167,671 | (182,035) | 3,301,625 | |
| As at 1 January 2024 £ 3,260,218 |
Income £ 183,233 |
Expenditure £ (127,462) |
As at 31 December 2024 £ 3,315,989 |
|
| 3,260,218 | 183,233 | (127,462) | 3,315,989 |
Unrestricted Reserves brought forward and carried forward includes £2,793,999 Revaluation Reserve and a Contingency Reserve of £50,000 that has been set aside in order to cover any unforeseen circumstances that may affect the running of the Steam Fair and Country Show or the Working Steam Weekend.
16. Transactions with Trustees
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
No trustee expenses have been incurred.
17. Related Party Disclosures
There have been no related party transactions in the reporting period that require disclosure.
18. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 10