||||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|20|
|Detailed Statement ofFinancial Activities||21|to|22|





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||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<br>and legacies|||132,703||132,703|170,212|
|Charitable<br>activities|||||||
|Suffolk Punch Heritage Centre|||5,070|40,946|46,016|71,486|
|Other trading activities|||289,472||289,472|260,251|
|Investment<br>income|||1,177||1,177|646|
|Total|||428,422|40,946|469,368|502,595|
|EXPENDITURE ON|||||||
|Raising funds|||462||462||
|Charitable<br>activities|||||||
|Suffolk Punch Heritage Centre<br>Supporting<br>the continuation<br>ofthe Suffolk Punch|||488,676<br>44,084|1,030|489,706<br>44,084|337,142<br>40,630|
|Total|||533,222|1,030|534,252|377772|
|NET INCOME/(EXPENDITURE)<br>Other recognised<br>gains/(losses)|||(104,800)|39,916|(64,884)|124,823|
|Gains on revaluation<br>offixed assets||||2,040|2,040|30,847|
|Net movement<br>in funds|||(104,800)|41,956|(62,844)|155,670|
|RECONCILIATION<br>OF|FUNDS||||||
|Total funds brought<br>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<br>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<br>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<br>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<br>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<br>Saleoftangible fixed assets|||||(180,841)<br>16,250|(81,901)<br>2,095|
|Unrealised<br>gain/loss<br>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<br>in year|||||18,541||
|Net cash provided by financing<br>activities|||||18,541||
|Change in cash and cash|equivalents||in||||
|the reporting<br>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<br>period|||||229,992|423,444|





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





## 

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## 

## 

|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|



## 

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## 



## 

## 

||for the Year Ended 31December 2022|for the Year Ended 31December 2022|for the Year Ended 31December 2022|||
|---|---|---|---|---|---|
|2.|DONATIONS<br>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<br>and livery|||52,298|65,639|
||RPA Enterprise<br>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<br>income|||11,570|5,015|
||Shop merchandise<br>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<br>the continuation|ofthe|||||
||Suffolk Punch||||44,084|44,084|
|||||489,706|44,084|533,790|
|8.|SUPPORT COSTS||||||
||||||Governance||
|||||Finance|costs|Totals|
||Supporting<br>the continuation|ofthe Suffolk|||||
||Punch|||4,195|39,889|44,084|
|9.|NET INCOME/(EXPENDITURE)||||||
||Net income/(expenditure)<br>is|stated aAer charging/(crediting):|||||
||||||31.12.22|31.12.21|
||Depreciation<br>- owned assets||||31,857|15,469|
||Surplus/(deficit)<br>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<br>number ofemployees|||during the year was as follows:|||
|||||31.12.22|31.12.21|
|Administrative<br>staff||||11|12|
|No employees<br>received emoluments||in excess off60,000.||||
|COMPARATIVES FOR|THE STATEMENT OF FINANCIAL ACTIVITIES|||||
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
|INCOME AND ENDOWMENTS||FROM||||
|Donations<br>and legacies|||170,212||170,212|
|Charitable<br>activities||||||
|Suffolk Punch Heritage Centre|||37,450|34,036|71,486|
|Other trading<br>activities|||260,251||260,251|
|Investment<br>income|||646||646|
|Total|||468,559|34,036|502,595|
|EXPENDITURE ON||||||
|Charitable<br>activities||||||
|Suffolk Punch Heritage Centre|||333,512|3,630|337,142|
|Supporting<br>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<br>gains/iiosses)||||||
|Gains on revaluation<br>offixed assets||||30,847|30,847|
|Net movement<br>in funds|||108,051|47,619|155,670|
|RECONCILIATION<br>OF|FUNDS|||||
|Total funds brought<br>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<br>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<br>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<br>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<br>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<br>funds|||||||
|General fund|||428,422|(533,222)||(104,800)|
|Restricted funds|||||||
|Capital purchase|fund||40,946|(1,030)||39,916|
|Revaluation<br>reserve|||||2,040|2,040|
||||40,946|(1,030)|2,040|41,956|
|TOTAL FUNDS|||469,368|(534,252)|2,040|(62,844)|
|Comparatives<br>for movement||in funds|||||
|||||Net|Transfers||
|||||movement|between|At|
||||At 1,1.21|in funds|funds|31.12.21|
|Unrestricted<br>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<br>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<br>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<br>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<br>income|11,570|5,015|
|Shop merchandise<br>sales|37,690|27,220|
|Adopt a horse scheme|8,486|13,502|
||289,472|260,251|
|Investment<br>income|||
|Rents received|558|558|
|Deposit account interest|619|88|
||1,177||
|Charitable<br>activities|||
|Grants|46,016|71,486|
|Total incoming resources|469,368|502,595|
|EXPENDITURE|||
|Other trading activities|||
|Hire purchase|462||
|Charitable<br>activities|||
|Wages|256,175|179,303|
|Pensions|3,202|2,049|
|Rent and rates|4,764|2,403|
|Utilities|22,560|11,927|
|Equipment<br>repairs &maint|16,463|10,139|
|Insurance|13,851|13,110|
|Telephone<br>and fax|718|419|
|Subscriptions|1,215|783|
|Post printing &stationery|4,096|6,236|
|Promotion<br>and publicity|8,469|7,865|
|Vehicle expenses|9,853|3,303|
|Volunteer<br>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<br>for the Year Ended 31|nancial Activities<br>December 2022||
|---|---|---|
||31.12.22|31.12.21|
|Charitable<br>activities|||
|Brought forward|374,111|262,099|
|Veterinary,<br>farrier, etc.|31,366|14,451|
|Visitor centre expenses|5,623|2,004|
|Fundraising<br>events expenses|1,692|363|
|Coffee shop supplies|21,248|14,346|
|Shop stock|22,223|17,028|
|Miscellaneous<br>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<br>costs|||
|Accountancy<br>and legal fees|39,889|37,519|
|Total resources expended|534,252|377,772|
|Net (expenditure)/income|(64,884)|124,823|