2022-12-31-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	20
Detailed Statement ofFinancial Activities		21	to	22

	for the	Year En	ded 31Decembe	r 2022
					31.12.22	31.12.21
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies			132,703		132,703	170,212
Charitable activities
Suffolk Punch Heritage Centre			5,070	40,946	46,016	71,486
Other trading activities			289,472		289,472	260,251
Investment income			1,177		1,177	646
Total			428,422	40,946	469,368	502,595
EXPENDITURE ON
Raising funds			462		462
Charitable activities
Suffolk Punch Heritage Centre Supporting the continuation ofthe Suffolk Punch			488,676 44,084	1,030	489,706 44,084	337,142 40,630
Total			533,222	1,030	534,252	377772
NET INCOME/(EXPENDITURE) Other recognised gains/(losses)			(104,800)	39,916	(64,884)	124,823
Gains on revaluation offixed assets				2,040	2,040	30,847
Net movement in funds			(104,800)	41,956	(62,844)	155,670
RECONCILIATION OF	FUNDS
Total funds brought forward			469,470	1,638,934	2,108,404	1,952,734
TOTAL FUNDS CARRIED FORWARD			364,670	1,680,890	2,045,560	2,108,404

				31.12.22	31.12.21
		Unrestricted	Restricted	Total	Total
		funds	fimds	funds	funds
	Notes
FIXEDASSETS
Tangible assets	14	217,552	423,687	641,239	503,905
Heritage assets	15		1,187,167	1,187,167	1,187,167
		217,552	1,610,854	1,828,406	1,691,072
CURRENT ASSETS
Stocks	16	12,514		12,514	8,186
Debtors	17	13,480		13,480	8,611
Cash at bank and in hand		159,956	70,036	229,992	423,444
		185,950	70,036	255,986	440,241
CREDITORS
Amounts falling due within one year	18	(26,480)		(26,480)	(22,909)
NET CURRENT ASSETS		159,470	70,036	229,506	417,332
TOTAL ASSETSLESSCURRENT
LIABILITIES		377,022	1,680,890	2,057,912	2,108,404
CREDITORS
Amounts falling due after more than one year	19	(12,352)		(12,352)
NET ASSETS		364,670	1,680,890	2,045,560	2,108,404
FUNDS	21
Unredacted funds				364,670	469,470
Restricted funds				1,680,890	1,638,934
TOTAL FUNDS				2,045,560	2,108,404

				for the Year Ended 3	1December 2022
					31.12.22	31.12.21
				Notes
Cash flows from operating		activities
Cash generated from operations					(49,600)	152,860
Interest element ofhire purchase payments
paid					(462)
Net cash (used in)/provided		by operating		activities	(50,062)	152,860
Cash flows from investing		activities
Purchase oftangible fixed assets Saleoftangible fixed assets					(180,841) 16,250	(81,901) 2,095
Unrealised gain/loss sale of		livestock			2,041	30,847
Interest received					619	88
Net cash used in investing	activities				(161,931)	(48,871)
Cash flows from financin		activities
Capital repayments in year					18,541
Net cash provided by financing activities					18,541
Change in cash and cash	equivalents		in
the reporting period					(193,452)	103,989
Cash and cash equivalents		at the
beginning ofthe reporting		period			423,444	319,455
Cash and cash equivalents		at the end	of
the reporting period					229,992	423,444

for the Year Ended 31Decem	for the Year Ended 31Decem	ber 2022	ber 2022
RECONCILIATION OFNET (EXPENDITURE)/INCOME		TONET CASH FLOW FROM
OPERATING ACTIVITIES
			31.12.22	31.12.21
Net (expenditure)/income for the reporting	period (as per the
Statement ofFinancial Activities)			(64,884)	124,823
Adjustments for:
Depreciation charges			31,856	15,469
(Profit)/loss on disposal offixed assets			(4,600)	5,481
Interest received Interest element ofhire purchase and finance	lease rental payments		(619) 462	(88)
(Increase)/decrease in stocks			(4,328)	1,475
(Increase)/decrease in debtors			(4,869)	4,271
(Decrease)/increase in creditors			(2,618)	1,429
Net cash (used in)/provided by operations			(49,600)	152,860

	At 1.1.22	Cash flow	At 31.12.22
Net cash
Cash at bank and in hand	423,444	(193,452)	229,992
	423,444	(193,452)	229,992
Debt
Finance leases		(18,541)	(18,541)
		(18,541)	(18,541)
Total	423,444	(211,993)	211,451

Single farm entitlements			Not depreciated
Freehold property			Not depreciated
Visitor centre and cafe equipment			Straight line over 3years
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

	for the Year Ended 31December 2022	for the Year Ended 31December 2022	for the Year Ended 31December 2022
2.	DONATIONS AND LEGACIES
				31.12.22	31.12.21
	Gifts and donations			132,703	170,212
3.	OTHER TRADING ACTIVITIES
				31.12.22	31.12.21
	Friends' contributions			22,802	23,889
	Covering and livery			52,298	65,639
	RPA Enterprise Scheme			8,505	10,225
	Shows and events			4,416	3,747
	Entrance fees			75,641	59,759
	Coffee shop sales			68,064	51,255
	Miscellaneous income			11,570	5,015
	Shop merchandise sales			37,690	27,220
	Adopt a horse scheme			8,486	13,502
				289,472	260,251
4.	INVESTMENT INCOME
				31.12.22	31.12.21
	Rents received			558	558
	Deposit account interest			619	88
				1,177	646
5.	INCOME FROM CHARITABLE ACTIVITIES
				31.12.22	31.12.21
			Activity
	Grants		Suffolk Punch Heritage Centre	46,016	71,486
	Grants received, included		in the above, are as follows:
				31.12.22	31.12.21
	Suffolk County Council			3,830
	Suffolk Horse Society			4,870	2,210
	Landfill tax grant			27,116	27,832
	Country Trust			200	116
	East Suffolk Council (COVID 19)- Premises, hospitality &leisure				16,057
	Covid 19Job retention	scheme			7,066
	East Suffolk Council (COVID 19)- Restart grant				12,000
	Suffolk Community				6,205
	Lottery			10,000
				46,016	71,486

6.	RAISING FUNDS
	Other trading activities
					31.12.22	31.12.21
	Interest payable and similar	charges			462
7.	CHARITABLE ACTIVITIES COSTS
					Support
				Direct	costs (see
				Costs	note 8)	Totals
	Suffolk Punch Heritage Centre			489,706		489,706
	Supporting the continuation	ofthe
	Suffolk Punch				44,084	44,084
				489,706	44,084	533,790
8.	SUPPORT COSTS
					Governance
				Finance	costs	Totals
	Supporting the continuation	ofthe Suffolk
	Punch			4,195	39,889	44,084
9.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure) is	stated aAer charging/(crediting):
					31.12.22	31.12.21
	Depreciation - owned assets				31,857	15,469
	Surplus/(deficit) on disposal	offixed assets			(4,600)	5,481
10.	TRUSTEES' REMUNERATION		AND BENEFITS

STAFFCOSTS
	31.12.22	31.12.21
Wages and salaries	256,175	179,303
Other pension costs	3,202	2,049
	259,377	181,352

STAFFCOSTS - continued	STAFFCOSTS - continued	STAFFCOSTS - continued
The average monthly number ofemployees			during the year was as follows:
				31.12.22	31.12.21
Administrative staff				11	12
No employees received emoluments		in excess off60,000.
COMPARATIVES FOR	THE STATEMENT OF FINANCIAL ACTIVITIES
			Unrestricted	Restricted	Total
			funds	funds	funds
INCOME AND ENDOWMENTS		FROM
Donations and legacies			170,212		170,212
Charitable activities
Suffolk Punch Heritage Centre			37,450	34,036	71,486
Other trading activities			260,251		260,251
Investment income			646		646
Total			468,559	34,036	502,595
EXPENDITURE ON
Charitable activities
Suffolk Punch Heritage Centre			333,512	3,630	337,142
Supporting the continuation	ofthe Suffolk
Punch			39,820	810	40,630
Total			373,332	4,440	377,772
NET INCOME			95,227	29,596	124,823
Transfers between funds			12,824	(12,824)
Other recognised gains/iiosses)
Gains on revaluation offixed assets				30,847	30,847
Net movement in funds			108,051	47,619	155,670
RECONCILIATION OF	FUNDS
Total funds brought forward			361,419	1,591,315	1,952,734
TOTAL FUNDS CARRIED FORWARD			469,470	1,638,934	2,108,404

INTANGIBLE FIXEDASSETS
	Single
	farm
	entitlements
COST
At 1 January 2022 and 31December 2022	10,314
AMORTISATION
At 1 January 2022 and 31December 2022	10,314
NET BOOKVALUE
At 31December 2022
At 31December 2021

TANGIBLE FIXEDASSETS
		Visitor
		centre &
	Freehold	cafe	Plant and
	property	eqpmt	machinery
COST
At 1 January 2022	452,952	42,480	44,844
Additions	70,774	52,426	7,947
Disposals		(6,518)	(2,397)
At 31December 2022	523,726	88,388	50,394
DEPRECIATION
At 1 January 2022	114,535	34,987	16,087
Charge for year		21,787	3,211
Eliminated on disposal		(6,518)	(2,397)
At 31December 2022	114,535	50,256	16,901
NET BOOKVALUE
At 31December 2022	409,191	38,132	33,493
At 31December 2021	338,417	7,493	28,757

		Heritage	Motor
	Livestock	artefacts	vehicles	Totals
COST
At 1 January 2022	95,461	6,730	51,331	693,798
Additions	21,690		28,004	180,841
Disposals	(9,900)		(3,500)	(22,315)
At 31December 2022	107,251	6,730	75,835	852,324
DEPRECIATION
At 1 January 2022			24,284	189,893
Charge for year			6,859	31,857
Eliminated on disposal			(1,750)	(10,665)
At 31December 2022			29,393	211,085
NET BOOKVALUE
At 31December 2022	107,251	6,730	46,442	641,239
At 31December 2021	95,461	6,730	27,047	503,905

HERITAGE ASSETS
	Total
MARKET VALUE
At 1 January 2022 and 31December 2022	1,187,167
NET BOOKVALUE
At 31December 2022	1,187,167
At 31December 2021	1,187,167

				Notes to the Financial Statements - continued for the Year Ended 31December 2022
16.	STOCKS
					31.12.22	31.12.21
	Stocks				12,514	8,186
17.	DEBTORS:	AMOUNTS		FALLING DUE WITHIN ONE YEAR
					31.12.22	31.12.21
	Trade debtors				3,831	6,473
	Other debtors				387
	VAT				5,507
	Prepayments	and accrued		income	3,755	2,138
					13,480	8,611
18.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
					31.12.22	31.12.21
	Hire purchase	(see note 20)			6,189
	Trade creditors				8,071	12,246
	Social security and other taxes					2,810
	VAT					496
	AE pension				1,025	436
	Accruals and	deferred income			11,195	6,921
					26,480	22,909
19.	CREDITORS:		AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
					31.12.22	31.12.21
	Hire purchase	(see note 20)			12,352
20.	LEASING AGREEMENTS
	Minimum lease		payments	fall due as follows:
					Hire purchase	contracts
					31.12.22	31.12.21
	Net obligations		repayable:
	Within one year				6,189
	Between one and five years				12,352
					18,541
					Non-cancellable	operating
					leases
					31.12.22	31.12.21
	Within one year				2,543	1,896
	Between one and five years				4,266	6,162
					6,809	8,058

				Net
				movement	At
			At 1.1.22	in funds	31.12.22
Unrestricted	funds
General fund			469,470	(104,800)	364,670
Restricted funds
Capital purchase		fund	1,553,034	39,916	1,592,950
Revaluation	reserve		85,900	2,040	87,940
			1,638,934	41,956	1,680,890
TOTAL FUNDS			2,108,404	(62,844)	2,045,560

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
Unrestricted funds
General fund			428,422	(533,222)		(104,800)
Restricted funds
Capital purchase	fund		40,946	(1,030)		39,916
Revaluation reserve					2,040	2,040
			40,946	(1,030)	2,040	41,956
TOTAL FUNDS			469,368	(534,252)	2,040	(62,844)
Comparatives for movement		in funds
				Net	Transfers
				movement	between	At
			At 1,1.21	in funds	funds	31.12.21
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)	1,638,934
TOTALFUNDS			1,952,734	155,670		2,108,404

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
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
A current year 12months			and prior year 12months combined position	is as follows:
				Net	Transfers
				movement	between	At
			At 1.1.21	in funds	funds	31.12.22
Unrestricted	funds
General fund			361,419	(9,573)	12,824	364,670
Restricted funds
Capital purchase		fund	1,536,262	69,512	(12,824)	1,592,950
Revaluation	reserve		55,053	32,887		87,940
			1,591,315	102,399	(12,824)	1,680,890
TOTAL FUNDS			1,952,734	92,826		2,045,560

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
Unrestricted	funds
General fund			896,981	(906,554)		(9,573)
Restricted funds
Capital purchase		fund	74,982	(5,470)		69,512
Revaluation	reserve				32,887	32,887
			74,982	(5,470)	32,887	102,399
TOTAL FUNDS			971,963	(912,024)	32,887	92,826

for the Year Ended 31	December 2022
	31.12.22	31.12.21
INCOME AND ENDOWMENTS
Donations and legacies
Gifts and donations	132,703	170,212
Other trading activities
Friends' contributions	22,802	23,889
Covering and livery	52,298	65,639
RPA Enterprise Scheme	8,505	10,225
Shows and events	4,416	3,747
Entrance fees	75,641	59,759
Coffee shop sales	68,064	51,255
Miscellaneous income	11,570	5,015
Shop merchandise sales	37,690	27,220
Adopt a horse scheme	8,486	13,502
	289,472	260,251
Investment income
Rents received	558	558
Deposit account interest	619	88
	1,177
Charitable activities
Grants	46,016	71,486
Total incoming resources	469,368	502,595
EXPENDITURE
Other trading activities
Hire purchase	462
Charitable activities
Wages	256,175	179,303
Pensions	3,202	2,049
Rent and rates	4,764	2,403
Utilities	22,560	11,927
Equipment repairs &maint	16,463	10,139
Insurance	13,851	13,110
Telephone and fax	718	419
Subscriptions	1,215	783
Post printing &stationery	4,096	6,236
Promotion and publicity	8,469	7,865
Vehicle expenses	9,853	3,303
Volunteer travel expenses	596	431
Computer costs	1,691	2,351
Animal feed and straw	30,458	21,780
Carried forward	374,111	262,099

Detailed Statement ofFi for the Year Ended 31	nancial Activities December 2022
	31.12.22	31.12.21
Charitable activities
Brought forward	374,111	262,099
Veterinary, farrier, etc.	31,366	14,451
Visitor centre expenses	5,623	2,004
Fundraising events expenses	1,692	363
Coffee shop supplies	21,248	14,346
Shop stock	22,223	17,028
Miscellaneous expenses	6,187	5,901
Depreciation oftangible fixed assets	31,856	15,469
Loss on sale oftangible fixed assets	(4,600)	5,481
	489,706	337,142
Support costs
Finance
Bank charges	4,195	3,111
Governance costs
Accountancy and legal fees	39,889	37,519
Total resources expended	534,252	377,772
Net (expenditure)/income	(64,884)	124,823