North Leverton Windmill Trust
Report and financial statements for the year ended 31 December 2021
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|North Leverton|Windmill|Trust|
|Contents|
|Page|
|Company|information|1|
|Report of|the management|committee|2-5|
|Independent|examiner's|report|6|
|Income and|expenditure|statement|7-8|
|Balance|sheet|9|
|Notes to the|financial statements|10-13|
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North Leverton Windmill Trust
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Charity information
Charity registration 1127200 Trustees Chairman Mr J Barlow Mr P Tuddenham Ms M Keeton Mrs J Taylor Mr K Barlow Mrs S Warner Mrs 1 Brocklehurst Mr J Waterfield Operational address North Leverton Windmill Mill Lane North Leverton Kettord 19N22 OBA Website www.north-leverton-windimill.co.uk email info@jnorth-leverton-windmill.co.uk Accountants darbys limited 19 The Square Retford Nottinghamshire DN22 6DH Bankers NatWest 21 The Square Retford DN22 6DL Solicitors Jones & Co 3 Churchgate Retford DN22 6PB
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North Leverton Windmill Trust
Trustees’ Report for the year ended 31 December 2021
The Trustees present their annual report and audited financial statements for the year ended 31 December 2021,
Structure, governance and management The Trust was formed on Lith December 2008 and registered by the Charity Commission on 16th December 2008. It was formed to receive the assets of North Leverton Windmill Co Ltd.
The charity is constituted under w trust deed dated 11th December 2008 with the approval of the Charity Commission and is a registered charity number | 127200. Copies of the decd are available from Mrs Julie Barlow, the Orchard, Cross St, Sturton-le-Steeple, Retford, DN22 9HL.
Organisational structure
The day-to-day mining of the charity and fund raising activitics arc managed by the Trustees and sub-committees formed from Trustees and volunteers.
Recruitment & appointment of Trustees
The Trustees are elected to serve for 3 years, other than the initial Trustees who have agreed a phased programme of retirement. Thus every year 2 or 3 Trustees retire and are available for re-election.
The charity follows the Charity Commission's recommendations with regard to trustee induction. All new Trustees are provided with the an induction pack along with the latest copy of the full accounts and the Charity Commission publications CC3 Trustee Responsibilitics and CC60 Hallmarks of an Effective Charity,
Risk management
The Trustees actively review the major risks, classified as constitutional, financial, operational and external, which the charity faces on a regular basis and which may impact on the service the charity aims to provide.
Constitutional - The Trustees believe that procedures are in place to cover any risk which may arise regarding constitutional or governance matters,
Financial -he ‘Trustees consider the variability of income to be a risk. The charity requires income of £6,000 to £10,000 per annum to cover on going repairs and maintenance, The level of General Reserve at the end of 2021 could allow the Charity to continue for 8 years while secking further funding or pay for a major repair if required.
Operational - The Trustees recognise the responsibility the charity has to ensure the building, fixtures and fittings are muintained sufficient to mect Health & Safety requirements for public access. Insurance is in place, provided hy NFU Mutual.
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North Leverton Windmill Trust
Trustees’ Report for the year ended 31 December 2021
External Public Liability Insurance up to £1 million ts in place.
Objectives and
activits
Objectives
The Trust Deed states that the objects of the charity are;
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1 ‘The preservation, protection and maintenance of North Leverton windmill for the public benefit.
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2 The advancement of education of the public in the function. history, design and purpose of windmills in gencral and of North Leverton in particular,
The Trustees consider that these objectives provide public benefit for the local community by ensuring the ongoing preservation and accessibility of the windmill. The Trustees have referred to the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning the charity's future activitics.
Activities
The main activities ofthe charity are twofold; raising funds for the ongoing repairs and maintenance of the windmill, and promoting North Leverton Windmill to the general public and encouraging visitors.
The charity ensures the mill is open every Saturday, and at other times by prior arrangement. The mill also hosts other events including school visits and tours for local community groups. Access to the mill yard and garden is always available.
The activities undertaken by the charity provide a benefit to all people either local or tourists from outside the region. The charity's activities are not considered to cause any adverse cffocts to any members of the public. Any personal benefits gained by persons other than visitors are considered to be incidental to the work of the charity.
Achievements and performance
Achicvements
2021 saw the Windmill re-opened on a regular basis in linc with government guidance relating tu the COVID-19 pandemic. We thank our regular visitors for their continued support and custom and enjoyed welcoming new visitors. The highlight of the year was the September Family Fun Weekend. We were fortunate with the weather and conditions were ideal for this event, and aftcr two years the public and exhibitors attended in droves. We know that over 2,000 adults attended over the weekend. Funds raised will be used for insurance and maintenance work in 2022.
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North Leverton Windmill Trust
Trustees’ Report for the year ended 31 December 2021
The LEADER funded Visitor Centre and Amenity Space were officially opended to the public as part of the weekend festivitics,
North Leverton Windmill was once again nominated best tourist attraction in North Nottinghamshire. We were delighted to be invited to the awards ceremony, and even more pleased when it was announced that the public had voted the Windmill the winner. Again we have to thank our volunteers and the public for this.
‘The Volunteers
The charity acknowledges the unstinting efforts of its volunteers who are involved in opening the windmill cach weekend, organising open days and other events as well as undertaking routine maintenance and helping with projects.
The churity is also thankful for the continued support of its financial and legal advisors.
Financial review
The charity's Statement of Financial Affairs is shown on pages 7.9 with a net surplus of income over expenses of £27,643.
Principal funding sources
Our principal funding source this ycar was from flour sales, donations from visitors and the Family Fun Weekend.
Reserves policy
It is the policy of the charity to maintain unrestricted reserves, which are available for general use, at a minimum level of £8,000 equal to 12 months operating expenditure. This provides sufficient cover to maintain the mill in the event of a substantial downturn in fund raising, while allernative funding is secured. Reserves are also maintained al un incremental level of £8,000 per annum to allow for a major repair to be carricd out in a timely manner.
lovestment Policy
There are no restrictions on the charity's powers to invest.
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North Leverton Windmill Trust
Trustees’ Report for the year ended 31 December 2021
Plans for future periods
The Trustees aim to grow and build on the progress that has heen made since the Trust was formed. To comply with the objectives of the Trust and to ensure public benefit, the Trustees will promote the educational value of the windmill, this has been greatly enhanced with the creation of the Visitor Centre and Amenity Space which has opened and regularly welcomes visitors. In the short-term maximum henefit will be achieved by utilising and maximising the use ofthe existing[facilities] on[site.]
During 2021, quotes were obtained to paint and re-tar the windmill, We are pleased to confirm that an order has been placed and work is planned to commence in 2022.
The trustees thank the public for their continued support.
This report is prepared in accordance with the Statement of Recommended Practice:Accounting and reporting by Charities (issued March 2005),
This report was approved by the Trustees on 10th August 2022 and signed on their behalfby
James Barlow
Chairman of the Board of Trustees
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North Leverton Windmill Trust
Independent examiners report to the Trusices
T report to the frustecs on my cxammation of the North Leverton Windmill Trust (the Trust) for the year ended 31st December 2021.
Responsibilties and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the acenunts im accordance with the requirements of the Charitics Act 2011 (‘the Act’).
I report in respect of my cxamination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my cxamination I have followed all the applicable Directions given by the Charity Commission under section 145(§)(b) of the Act.
Independent examiners statement
| have completed my cxamination. | confirm that no material matters have come fo my attention in connection with the examination giving me caus¢ to believe that in any material respect:
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1, accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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- the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts sct out in the Charitics (Accounts and Reports) Regulations 2008 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.
1 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.
Amanda Mansell ACA
darbys limited
19 The Square Retford
Nottinghamshire DN22 6DH
10 August 2022
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North Leverton Windmill Trust
| Statementoffinancial activitics | Statementoffinancial activitics | Statementoffinancial activitics | |||
|---|---|---|---|---|---|
| includingincomeand | expenditure account | ||||
| fortheyearended31 | 31 | December2021 | |||
| Restricted | Unrestricted | Total | 2020 | ||
| Notes | |||||
| Incoming resources | |||||
| Incoming resources from generated funds | |||||
| Voluntaryincome | 2 | ||||
| Income fromgrants | - | 16,336 | 16,336 | 66,430 | |
| Othervoluntaryincome | 7 | $53 | $53 | - | |
| - | 16,889 | 16,889 | 66,430 | ||
| Activities forgenerating funds | 3 | ||||
| Cottage rentals | - | 3,740 | 3.740 | 5,102 | |
| Shop& trading income | - | 7,884 | 7.884 | 13,253 | |
| - | 11.624 | 11,624 | 18,355 | ||
| Investment income | - | 2 | 2 | 15 | |
| Incoming resources from charitable activities | |||||
| Opendays | 4 | = | 8,432 | $,432 | 2,389 |
| Totalincomimgresources | - | 36,947 | 36,947 | $7,189 |
The notes on pages 10 to 13 form an integral part of these financial statements.
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North Leverton Windmill Trust
Statement of financial activities including income and expenditure account for the year ended 31 December 2021
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|Restricted|Unrestricted|Total|2020|
|Notes|
|Net|income|availabic|for|
|charitable|activities|-|36,947|36,947|87,189|
|Resources|expended|5|
|Cost of fundraising|activities|
|Cottage expenses|4|-|-|-|
|Costs of trading|-|3,570|3,570|4,491|
|Fundraising events|-|-|151|
|General|expenses|-|45|45|230|
|-|3,615|3,615|A872|
|Charitable|activities|
|Maintenance|-|5,689|5,689|25.746|
|Governance|costs|-|-|=|=|
|Total|resources expended|-|9,304|9,304|30,618|
|Net incoming|(outgoing)|resources|-|27.643|27,643|36.571|
|Net movement|in|funds|10|-|27,643|27,643|$6,571|
|Funds|brought forward|-|129,448|129,448|72,877|
|Transfers|between|funds|=|=|>|z|
|Funds carried|forward|-|[$7,091|IS7,091|[29.448|
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The notes on pages 10 to 13 form an integral part of these financial statements.
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= North Leverton Windmill Trust
| Balancesheet | Balancesheet | |||||
|---|---|---|---|---|---|---|
| as at31 December2021 | 2021 | |||||
| Restricted | Unrestricted | Total | 2020 | |||
| Notes | ||||||
| Fixed assets | ||||||
| Tangibleassets | 7 | - | 49,475 | 49,475 | 49,475 | |
| - | 49.475 | 49.475 | 49.475 | |||
| Current asscts | ||||||
| Stocks | - | 519 | 519 | 470 | ||
| Debtors | Ss | - | t | |||
| Cash atbankand inhand | - | 108,619 | 108,619 | 79,397 | ||
| - | 109,139 | 109.139 | 79,973 | |||
| Creditors: amounts falling | ||||||
| duewithin oncyear | ||||||
| Current creditors | 9 | 1,523 | 1,523 | - | ||
| ~ | 1,523 | 1,523 | - | |||
| Netcurrentassets | - | 107,616 | 107,616 | 79,973 | ||
| Total assets less current | ||||||
| linbilities | - | S701 | 157,091 | 129.448 | ||
| Netassets | - | 157,091 | 157,091 | 129,448 | ||
| Retained funds | ||||||
| General reserve - unrestricted | - | 157.09) | 157,091 | 129,448 | ||
| Restricted reserve | = | - | = | = | ||
| Totalfunds | 11 | - | 157,091 | 157,091 | 129,448 |
The financial statements were approved by the Trustees on 10th August 2022 and signed on their behalf hy
WSusse Basjiess
Mrs J Barlow - Treasurer
The notes on pages 10 to 13 form an integral part of these financial statements,
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North Leverton Windmill Trust
Notes to the financial statements
for the year ended 31 Deeember 2021
1 Accounting policies
1.1. Basis of preparation of the accounts
The accounts are prepared under the historical cost convention, in accordance with Accounting and
Reporting hy Charities: Statement of Recommended Practice applicable to Charities preparing their
accounts in accordance with FRS 102 (cttective 1 January 2015) - (Charitics SORP (FRS 102)) and
the Charities Act 2011.
The charity mects the definition of a public benefit entity under FRS 102. Assets and liabilities are
initially recognised at historical cost or transaction value unless otherwise stated in the relevant
accounting policy note(s). There are no material uncertainties about the charity's ability to continuc
as a going concern.
1.2. Incoming resources
All incoming resources are included in the financial statements when the charity is entitled to the
income and the amount can be quantified with reasonable accuracy.
The income from fundraising ventures is shown gross with the associated expenditure shown as
cost of generaling income.
Unrestricted funds ure available for use at the discretion of the trustees in Surtherance of the general
objectives of the charity-
Restricted funds are subject to restrictions on their expenditure imposed by the donor.
1.3. Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT
where it cannot he recovered.
This comprises the costs associated with attracting voluntary income, and the costs associated with
fundraising ventures,
These eosts are incurred by the charity in the delivery of its activities. lt includes both costs that can
be allocated direct to such activities and those costs of an indirect nature necessary to support them.
This includes those costs associated with meeting the constitulional and statutory requirements of
the charity, and include professional fees and all costs linked with the strategic management of the
charity,
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All costs are allocated between the categories of the SoPA on a hasis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, other are apportioned on an appropriate basis.
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North Leverton Windmill Trust
Notes to the financial statements for the year ended 31 December 2()21
1.4. Donated goods & services
The charity has not received any material donated goods for own usc. Small items are not recognised in the Statement of Financial Activitics.
‘The monctary valuc of volunteer services is not recognised in the Statement of Financial activities.
1.5. Tangible fixed assets and depreciation
Fixed asscts are stated at cust less accumulated depreciation.
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant & machinery
- 25% on reducing balance
1.6. Stock
Stock is valued at the lower of[cost][ and][net][realisable][value.]
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|2.|Voluntary income|Restricted|Unrestricted|‘Total|2020|
|(rants|
|LEADER|-|-|-|54,810|
|Bassetlaw|DC|- COVID|-|16,336|16,336|11,620|
|-|16,336|16,336|66.430|
|Other voluntary|income|
|Visitor Donations|$53|553|=|
|-|$53|$53|-|
|Total voluntary|income|-|16,889|16,889|66,430|
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Iurimg the year the charity received COVID support grants from Bassctlaw District Council.
3. Fundraising income
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|Sale of flour and souvenirs|-|7,884|7.884|13.253|
|Collage rent|3,740|3.740|5,102|
|Total income|from|fundraising|activities|-|11,624|11,624|18,355|
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-12North Leverton Windmill Trust
Notes to the financial statements for the year ended 31 December 202i
4. Income from charitable activitics
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|Open days|$A3Z2|8,432|2,389|
|‘Total|income from|charitable|activities|-|8,432|8.432|2.389|
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- Total resources expended
The total resources expended are recorded as cither charity expenditure or Cost of Generating Funds. Within these categories costs are apportioned as follows
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|Cost of Generating|2020|
|Funds|
|General|Fundraising|Cottage|Total|
|Event costs|-|-|151|
|Purchases|3.570|3,570|4A91|
|Administrative|costs|45|45|230|
|Establishment|costs|S|
|Total costs|-|3,615|-|3,615|4.872|
|Charity expenditure|Maintenance|Admin|Open days|Total|
|Insurance|1,951|1,951|325|
|Electricity|47|47|.|
|Repairs|2.841|2.841|25,421|
|Event Costs|$30|850|
|Total costs|4,839|-|$50|5.689|25,746|
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6. Taxation
The charity is exempt from taxation on income and gains falling within Section 505 of the Taxes Act 1988 or 5256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are upplicd to its charitable objects.
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North Leverton Windmill Trust
Notes to the financial statements for the year ended 31 December 2021
| 7. | Tangible fixed asscts | Buildings | Plantand | Plantand | |||
|---|---|---|---|---|---|---|---|
| cquipment | Total | ||||||
| Cost | |||||||
| At! January 2021 | 49 474 | ||||||
| At31 December2021 | 49,474 | I | 49.475 | ||||
| Net bookvalucs | |||||||
| At31! December2021 | AQAT4 | ||||||
| At31 December2020 | 49.474 | ] | 49.475 | ||||
| 8. | Debtors | 2020 | |||||
| VAT Debtor | |||||||
| 1 | 106 | ||||||
| 9. | Creditors: amounts fallingdue | 2020 | |||||
| withinoneycur | |||||||
| Trade creditors | 544 | > | |||||
| Accrualsand deferred income | 979 | - | |||||
| 1,523 | - | ||||||
| 10. | Analysisofnctassets betweenfunds | Restricted | Unrestricted | Total | 2020 | ||
| Tangible fixed assets | 49.475 | 49,AT§ | 49,475 | ||||
| Current assets | 109,139 | 109,139 | 79,973 | ||||
| Current liabilities | (1,523) | (1.523) | - | ||||
| - | 157.091 | 157,091 | 129,448 |
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- North Leverton Windmill Trust
Notes to the financial statements for the year ended 31 December 2021
| 11. | Movements in funds | Asat | Incoming | Outgoing | Transfers | Asat | |
|---|---|---|---|---|---|---|---|
| 31/12/20 ~—sresources |
resources =resources | Between | 31/12/21 | ||||
| funds | |||||||
| Restricted fonds | - | - | - | - | - | ||
| Varestricted funds | |||||||
| General fund | 129,448 | 36,947 | (9,304) | - | 157,091 | ||
| 129,448 | 36,947 | (9,304) | - | 1$7.091 | |||
| Totalfunds | 129,448 | 36,947 | (9,304) | - | 157,091 |
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