2021-12-31-accounts - The Suffolk Punch Trust

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			Page
Chairman's Report
Report ofthe Trustees		2	to	4
Independent Examiner's	Report
Statement ofFinancial Activities
Balance Sheet		7	to	8
Cash Flow Statement
Notes to the Cash Flow	Statement		10
Notes to the Financial Statements		11	to	19
Detailed Statement ofFinancial Activities		20	to	21

							31.12.21	31.12.20
					Unrestricted	Restricted	Total	Total
					funds	funds	fllllds	funds
				Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies					170,212		170,212	225,666
Charitable activities
Suffolk Punch Heritage	Centre				37,450	34,036	71,486	68,334
Other trading activities					260,251		260,251	156,379
Investment income					646		646	1,030
Total					468,559	34,036	502,595	451,409
EXPENDITURE ON
Charitable activities				6
Suffolk Punch Heritage	Centre				333,512	3,630	337,142	365,001
Supporting the continuation		ofthe Suffolk Punch			39,820	810	40,630	38,417
Total					373,332	4,440	377,772	403,418
NET INCOME					95,227	29,596	124,823	47,991
Transfers between funds					12,824	(12,824)
Other recognised gains/(losses)
Gains/(losses) on revaluation			offixed assets			30,847	30,847	(10,707)
Net movement in funds					108,051	47,619	155,670	37,284
RECONCILIATION	OF FUNDS
Total funds brought forward					361,419	1,591,315	1,952,734	1,915,450
TOTAL FUNDS CARRIED			FORWARD		469,470	1,638,934	2,108,404	1,952,734

					31.12.21	31.12.20
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	fllnds
		Notes
FIXEDASSETS
Tangible	assets	13	118,174	385,731	503,905	445,049
Heritage	assets	14		1,187,167	1,187,167	1,187,167
			118,174	1,572,898	1,691,072	1,632,216
CURRENT ASSETS
Stocks		15	8,186		8,186	9,661
Debtors		16	8,611		8,611	12,882
Cash at bank and in hand			357,408	66,036	423,444	319,455
			374,205	66,036	440,241	341,998
CREDITORS
Ainounts	falling due within one year	17	(22,909)		(22,909)	(21,480)
NET CURRENT ASSETS			351,296	66,036	417,332	320,518
TOTAL	ASSETSLESSCURRENT
LIABILITIES			469,470	1,638,934	2,108,404	1,952,734
NET ASSETS			469,470	1,638,934	2,108,404	1,952,734
FUNDS		18
Unrestricted funds					469,470	361,419
Restricted	funds				1,638,934	1,591,315
TOTAL	FUNDS				2,108,404	1,952,734

			for	the Year Ended 3	1December 2021
					31.12.21	31.12.20
				Notes
Cash flows from operating		activities
Cash generated from operations					152,860	86,733
Net cash provided by operating activities					152,860	86,733
Cash flows from investing		activities
Purchase oftangible fixed	assets				(81,901)	(86,739)
Sale oftangible fixed assets					2,095	35,718
Unrealised gain/loss sale of		livestock			30,847	(10,709)
Interest received					88	472
Net cash used in investing	activities				(48,871)	(61,258)
Change in cash and cash	equivalents		in
the reporting period					103,989	25,475
Cash and cash equivalents		at the
beginning ofthe reporting		period			319,455	293,980
Cash and cash equivalents		at the end	of
the reporting period					423,444	319,455

			Notes to the Cash Flow Statement I'or the Year Ended 31December 2021	Notes to the Cash Flow Statement I'or the Year Ended 31December 2021
1.	RECONCILIATION		OF NET INCOME TO NET CASH FLOW FROM		OPERATING	ACTIVITIES
					31.12.21	31.12.20
	Net income for the	reporting		period (as per the Statement ofFinancial
	Activities)				124,823	47,991
	Adjustments for:
	Depreciation charges				15,469	26,369
	Loss on disposal of	fixed assets			5,481	11,359
	Interest received				(88)	(472)
	Decrease/(increase)	in	stocks		1,475	(1,319)
	Decrease/(increase)	in	debtors		4,271	(1,824)
	Increase in creditors				1,429	4,629
	Net cash provided	by	operations		152,860	86,733
2.	ANALYSIS OF CHANGES IN NET FUNDS

	At 1.1.21	Cash flow	At 31.12.21
Net cash
Cash at bank and in hand	319,455	103,989	423,444
	319,455	103,989	423,444
Total	319,455	103,989	423,444

Single farm entitlements			Not depreciated
Freehold property			Not depreciated
Visitor centre and cafe equipment			Straight line over 3 years
Plant and machinery	Miscellaneous	equipment	Straight line over 10years
Plant and machinery	Farm equipment		Straight line over 15years
Plant and machinery	AI equipment		Straight line over 10years
Livestock			Not depreciated
Heritage artifacts			Not depreciated
Motor vehicles			Straight line over 10years
Visitor centre and land			Not depreciated

DONATIONS AND L	E	GAC	IES
				31.12.21	31.12.20
Gifts and donations				170,212	225,666
OTHER TRADING ACTIVITIES
				31.12.21	31.12.20
Friends' contributions				23,889	23,409
Covering and livery				65,639	73,146
RPA Enterprise Scheme				10,225	10,749
Shows and events				3,747
Entrance fees				59,759	13,713
Coffee shop sales				51,255	10,909
Miscellaneous income				5,015	9,166
Shop merchandise sales				27,220	10,980
Adopt ahorse scheme				13,502	4,307
				260,251	156,379
INVESTMENT INCOME
				31.12.21	31.12.20
Rents received				558	558
Deposit account interest				88	472
				646	1,030
INCOME FROM CHARITABLE ACTIVITIES
				31.12.21	31.12.20
			Activity
Grants			Suffolk Punch Heritage Centre	71,486	68,334
Grants received, included		in the above, are as follows:
				31.12.21	31.12.20
Suffolk Horse Society				2,210	100
Landfill tax grant				27,832	15,000
Trustees 1961Charity					3,000
Country Trust				116
AI equipment grant					3,177
Clarke &Simspon					500
East Suffolk Council (COVID			19) - Premises, hospitality &leisure	16,057	25,000
Covid 19Job retention	scheme			7,066	21,557
East Suffolk Council (COVID			19) - Restart grant	12,000
Carried forward				65,281	68,334

5.	INCOME FROM CHARITABLE ACTIVITIES - continued	INCOME FROM CHARITABLE ACTIVITIES - continued	INCOME FROM CHARITABLE ACTIVITIES - continued	INCOME FROM CHARITABLE ACTIVITIES - continued
						31.12.21	31.12.20
	Brought forward					65,281	68,334
	Suffolk Community					6,205
						71,486	68,334
6.	CHARITABLE ACTIVITIES COSTS
						Support
					Direct	costs (see
					Costs	note 7)	Totals
	Suffolk Punch Heritage Centre				337,142		337,142
	Supporting the continuation		ofthe
	Suffolk Punch					40,630	40,630
					337,142	40,630	377,772
7.	SUPPORT COSTS
						Governance
					Finance	costs	Totals
	Supporting the continuation		ofthe Suffolk
	Punch				3,111	37,519	40,630
S.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure)	is	stated after charging/(crediting):
						31.12.21	31.12.20
	Depreciation —owned assets					15,469	26,367
	Deficit on disposal offixed		assets			5,481	11,359
	TRUSTEES' REMUNERATION			AND BENEFITS

STAFF COSTS
					31.12.21	31.12.20
Wages and salaries					179,303	185,090
Other pension costs					2,049	2,558
					181,352	187,648
The average monthly number ofemployees			during	the year was as follows:
					31.12.21	31.12.20
Administrative staff					12	12
No employees received	emoluments	in excess ofZ60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
				Unrestricted	Restricted	Total
				funds	funds	funds
INCOME AND ENDOWMENTS		FROM
Donations and legacies				225,666		225,666
Charitable activities
Suffolk Punch Heritage	Centre			50,157	18,177	68,334
Other trading activities				156,379		156,379
Investment income				1,030		1,030
Total				433,232	18,177	451,409
EXPENDITURE ON
Charitable activities
Suffolk Punch Heritage	Centre			340,982	24,019	365,001
Supporting the continuation ofthe Suffolk
Punch				38,417		38,417
Total				379,399	24,019	403,418
NET INCOME/(EXPENDITURE)				53,833	(5,842)	47,991
Transfers between funds				(10,670)	10,670
Other recognised gains/(losses)
Gains/(losses) on revaluation offixed assets					(10,707)	(10,707)
Net movement in funds				43,163	(5,879)	37,284
RECONCILIATION	OF FUNDS
Total funds brought forward				318,256	1,597,194	1,915,450

	Notes to the Financial Statements - continued	Notes to the Financial Statements - continued
	for the Year Ended 31December	2021
11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL	ACTIVITIES -continued
		Unrestricted	Restricted	Total
		funds	funds	funds
	TOTAL FUNDS CARRIED FORWARD	361,419	1,591,315	1,952,734
12.	INTANGIBLE FIXEDASSETS
				Single
				farm
				entitlements
	COST
	At 1 January 2021 and 31December 2021			10,314
	AMORTISATION
	At 1 January 2021 and 31 December 2021			10,314
	NET BOOK VALUE
	At 31 December 2021
	At 31December 2020

TANGIBLE FIXEDASSETS
		Visitor
		centre &
	Freehold	cafe	Plant and
	property	eqpmt	machinery
COST
At 1 January 2021	422,257	32,933	41,826
Additions	30,695	9,547	3,018
Disposals
At 31 December 2021	452,952	42,480	44,844
DEPRECIATION
At 1 January 2021	114,535	27,331	13,408
Charge for year		7,656	2,679
Eliminated on disposal
At 31 December 2021	114,535	34,987	16,087
NET BOOK VALUE
At 31 December 2021	338,417	7,493	28,757
At 31December 2020	307,722	5,602	28,418

		Heritage	Motor
	Livestock	artefacts	vehicles	Totals
COST
At 1 January 2021	59,321	6,730	58,581	621,648
Additions	38,641			81,901
Disposals	(2,501)		(7,250)	(9,751)
At 31December 2021	95,461	6,730	51,331	693,798
DEPRECIATION
At 1 January 2021			21,325	176,599
Charge for year			5,134	15,469
Eliminated on disposal			(2,175)	(2,175)
At 31 December 2021			24,284	189,893
NET BOOK VALUE
At 31 December 2021	95,461	6,730	27,047	503,905
At 31December 2020	59,321	6,730	37,256	445,049

HERITAGE ASSETS
	Total
MARKET VALUE
At 1 January 2021 and 31 December 2021	1,187,167
NET BOOK VALUE
At 31December 2021	1,187,167
At 31 December 2020	1,187,167

15.	STOCKS
							31.12.21	31.12.20
	Stocks						8,186	9,661
16.	DEBTORS:	AMOUNTS FALLING DUE WITHIN ONE YEAR
							31.12.21	31.12.20
	Trade debtors						6,473	11,738
	Prepayments	and	accrued income				2,138	1,144
							8,611	12,882
17.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
							31.12.21	31.12.20
	Trade creditors						12,246	6,618
	Social security and other taxes						2,810	3,848
	VAT						496	1,683
	AE pension						436	639
	Accruals and	deferred income					6,921	8,692
							22,909	21,480
18.	MOVEMENT IN FUNDS
					Net		Transfers
					movement		between	At
				At 1.1.21	in	funds	funds	31.12.21
						E
	Unrestricted	funds
	General fund			361,419	95,227		12,824	469,470
	Restricted funds
	Capital purchase		fund	1,536,262	29,596		(12,824)	1,553,034
	Revaluation reserve			55,053	30,847			85,900
				1,591,315	60,443		(12,824)	],638,934
	TOTAL FUNDS			1,952,734	155,670			2,108,404

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
						E
Unrestricted	funds
General fund			468,559	(373,332)		95,227
Restricted funds
Capital purchase fund			34,036	(4,440)		29,596
Revaluation	reserve				30,847	30,847
			34,036	(4,440)	30,847	60,443
TOTAL FUNDS			502,595	(377,772)	30,847	155,670
Comparatives for movement		in funds
				Net	Transfers
				movement	between	At
			At 1.1.20	in funds	funds	31.12.20
Unrestricted	funds
General fund			318,256	53,833	(10,670)	361,419
Restricted funds
Capital purchase fund			1,531,434	(5,842)	10,670	1,536,262
Revaluation	reserve		65,760	(10,707)		55,053
			1,597,194	(16,549)	10,670	1,591,315
TOTAL FUNDS			1,915,450	37,284		1,952,734

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
Unrestricted	funds
General fund			433,232	(379,399)		53,833
Restricted funds
Capital purchase		fund	18,177	(24,019)		(5,842)
Revaluation	reserve				(10,707)	(10,707)
			18,177	(24,019)	(10,707)	(16,549)
TOTAL FUNDS			451,409	(403,418)	(10,707)	37,284

				Net	Transfers
				movement	between	At
			At 1.1.20	in funds	funds	31.12.21
Unrestricted	funds
General fund			318,256	149,060	2,154	469,470
Restricted funds
Capital purchase		fund	1,531,434	23,754	(2,154)	1,553,034
Revaluation	reserve		65,760	20,140		85,900
			1,597,194	43,894	(2,154)	1,638,934
TOTAL FUNDS			1,915,450	192,954		2,108,404

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
Unrestricted	funds
General fund			901,791	(752,731)		149,060
Restricted funds
Capital purchase		fund	52,213	(28,459)		23,754
Revaluation	reserve				20,140	20,140
			52,213	(28,459)	20,140	43,894
TOTAL FUNDS			954,004	(781,190)	20,140	192,954

for the Year Ended 31	December 2021
	31.12.21	31.12.20
INCOME AND ENDOWMENTS
Donations and legacies
Gifts and donations	170,212	225,666
Other trading activities
Friends' contributions	23,889	23,409
Covering and livery	65,639	73,146
RPA Enterprise Scheme	10,225	10,749
Shows and events	3,747
Entrance fees	59,759	13,713
Coffee shop sales	51,255	10,909
Miscellaneous income	5,015	9,166
Shop merchandise sales	27,220	10,980
Adopt a horse scheme	13,502	4,307
	260,251	156,379
Investment income
Rents received	558	558
Deposit account interest	88	472
	646	1,030
Charitable activities
Grants	71,486	68,334
Total incoming resources	502,595	451,409
EXPENDITURE
Charitable activities
Wages	179,303	185,090
Pensions	2,049	2,558
Rent and rates	2,403	3,921
Utilities	11,927	9,747
Equipment repairs &maint	10,139	16,537
Insurance	13,110	13,957
Telephone and fax	419	223
Subscriptions	783	200
Post printing &stationery	6,236	7,142
Promotion and publicity	7,865	7,325
Bad debts		5,640
Vehicle expenses	3,303	1,292
Volunteer travel expenses	431	388
Computer costs	2,351	2,265
Animal feed and straw	21,780	28,345
Veterinary, farrier, etc.	14,451	25,963
Visitor centre expenses	2,004	977
Carried forward	278,554	311,570

Detailed Statement ofFi for the Year Ended 31	nancial Activities December 2021
	31.12.21	31.12.20
Charitable activities
Brought forward	278,554	311,570
Fundraising events expenses	363	222
Garden expenses		1,900
Coffee shop supplies	14,346	4,694
Shop stock	17,028	6,122
Miscellaneous expenses	5,901	2,765
Depreciation oftangible fixed assets	15,469	26,369
Loss on sale oftangible fixed assets	5,481	11,359
	337,142	365,001
Support costs
Finance
Bank charges	3,111	1,607
Governance costs
Accountancy and legal fees	37,519	36,810
Total resources expended	377,772	403,418
Net income	124,823	47,991