||||Page||
|---|---|---|---|---|
|Chairman's<br>Report|||||
|Report ofthe Trustees||2|to|4|
|Independent<br>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|





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||||||||31.12.21|31.12.20|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|Total|
||||||funds|funds|fllllds|funds|
|||||Notes|||||
|INCOME AND ENDOWMENTS FROM|||||||||
|Donations<br>and legacies|||||170,212||170,212|225,666|
|Charitable<br>activities|||||||||
|Suffolk Punch Heritage|Centre||||37,450|34,036|71,486|68,334|
|Other trading activities|||||260,251||260,251|156,379|
|Investment<br>income|||||646||646|1,030|
|Total|||||468,559|34,036|502,595|451,409|
|EXPENDITURE ON|||||||||
|Charitable<br>activities||||6|||||
|Suffolk Punch Heritage|Centre||||333,512|3,630|337,142|365,001|
|Supporting<br>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<br>between funds|||||12,824|(12,824)|||
|Other recognised<br>gains/(losses)|||||||||
|Gains/(losses)<br>on revaluation|||offixed assets|||30,847|30,847|(10,707)|
|Net movement<br>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|





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||||||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<br>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<br>from operations|||||152,860|86,733|
|Net cash provided<br>by operating<br>activities|||||152,860|86,733|
|Cash flows from investing||activities|||||
|Purchase oftangible fixed|assets||||(81,901)|(86,739)|
|Sale oftangible<br>fixed assets|||||2,095|35,718|
|Unrealised<br>gain/loss<br>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<br>period|||||103,989|25,475|
|Cash and cash equivalents||at the|||||
|beginning<br>ofthe reporting||period|||319,455|293,980|
|Cash and cash equivalents||at the end|of||||
|the reporting<br>period|||||423,444|319,455|





||||Notes to the Cash Flow Statement<br>I'or the Year Ended 31December 2021|Notes to the Cash Flow Statement<br>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<br>for:||||||
||Depreciation<br>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|





## 

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## 

## 

|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|



## 

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## 



## 

## 

## 

|DONATIONS<br>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<br>Scheme||||10,225|10,749|
|Shows and events||||3,747||
|Entrance fees||||59,759|13,713|
|Coffee shop sales||||51,255|10,909|
|Miscellaneous<br>income||||5,015|9,166|
|Shop merchandise<br>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<br>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<br>the continuation||ofthe|||||
||Suffolk Punch|||||40,630|40,630|
||||||337,142|40,630|377,772|
|7.|SUPPORT COSTS|||||||
|||||||Governance||
||||||Finance|costs|Totals|
||Supporting<br>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<br>—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<br>number ofemployees|||during|the year was as follows:|||
||||||31.12.21|31.12.20|
|Administrative<br>staff|||||12|12|
|No employees<br>received|emoluments|in excess ofZ60,000.|||||
|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|||||||
|||||Unrestricted|Restricted|Total|
|||||funds|funds|funds|
|INCOME AND ENDOWMENTS||FROM|||||
|Donations<br>and legacies||||225,666||225,666|
|Charitable<br>activities|||||||
|Suffolk Punch Heritage|Centre|||50,157|18,177|68,334|
|Other trading<br>activities||||156,379||156,379|
|Investment<br>income||||1,030||1,030|
|Total||||433,232|18,177|451,409|
|EXPENDITURE ON|||||||
|Charitable<br>activities|||||||
|Suffolk Punch Heritage|Centre|||340,982|24,019|365,001|
|Supporting<br>the continuation<br>ofthe Suffolk|||||||
|Punch||||38,417||38,417|
|Total||||379,399|24,019|403,418|
|NET INCOME/(EXPENDITURE)||||53,833|(5,842)|47,991|
|Transfers<br>between<br>funds||||(10,670)|10,670||
|Other recognised<br>gains/(losses)|||||||
|Gains/(losses)<br>on revaluation offixed assets|||||(10,707)|(10,707)|
|Net movement<br>in funds||||43,163|(5,879)|37,284|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought<br>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<br>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<br>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<br>fund|||361,419|95,227||12,824|469,470|
||Restricted<br>funds||||||||
||Capital purchase||fund|1,536,262|29,596||(12,824)|1,553,034|
||Revaluation<br>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<br>fund|||468,559|(373,332)||95,227|
|Restricted funds|||||||
|Capital purchase<br>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<br>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<br>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<br>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<br>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<br>Scheme|10,225|10,749|
|Shows and events|3,747||
|Entrance fees|59,759|13,713|
|Coffee shop sales|51,255|10,909|
|Miscellaneous<br>income|5,015|9,166|
|Shop merchandise<br>sales|27,220|10,980|
|Adopt a horse scheme|13,502|4,307|
||260,251|156,379|
|Investment<br>income|||
|Rents received|558|558|
|Deposit account interest|88|472|
||646|1,030|
|Charitable<br>activities|||
|Grants|71,486|68,334|
|Total incoming<br>resources|502,595|451,409|
|EXPENDITURE|||
|Charitable<br>activities|||
|Wages|179,303|185,090|
|Pensions|2,049|2,558|
|Rent and rates|2,403|3,921|
|Utilities|11,927|9,747|
|Equipment<br>repairs &maint|10,139|16,537|
|Insurance|13,110|13,957|
|Telephone<br>and fax|419|223|
|Subscriptions|783|200|
|Post printing &stationery|6,236|7,142|
|Promotion<br>and publicity|7,865|7,325|
|Bad debts||5,640|
|Vehicle expenses|3,303|1,292|
|Volunteer<br>travel expenses|431|388|
|Computer<br>costs|2,351|2,265|
|Animal<br>feed and straw|21,780|28,345|
|Veterinary,<br>farrier, etc.|14,451|25,963|
|Visitor centre expenses|2,004|977|
|Carried forward|278,554|311,570|





## 

## 

|Detailed Statement ofFi<br>for the Year Ended 31|nancial Activities<br>December 2021||
|---|---|---|
||31.12.21|31.12.20|
|Charitable<br>activities|||
|Brought forward|278,554|311,570|
|Fundraising<br>events expenses|363|222|
|Garden expenses||1,900|
|Coffee shop supplies|14,346|4,694|
|Shop stock|17,028|6,122|
|Miscellaneous<br>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<br>costs|||
|Accountancy<br>and legal fees|37,519|36,810|
|Total resources expended|377,772|403,418|
|Net income|124,823|47,991|