**REGISTERED COMPANY NUMBER: 06749627 (England and Wales) REGISTERED CHARITY NUMBER: 1131148**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 December 2021**
## **for**
## **The Jordan Trust**
George Hay Partnership LLP Chartered Accountants Brigham House High Street Biggleswade Bedfordshire SG18 0LD
**The Jordan Trust**
## **Contents of the Financial Statements for the Year Ended 31 December 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**|5|to|6|
|**Notes to the Financial Statements**|7|to|12|
|**Detailed Statement of Financial Activities**|13|to|14|
**The Jordan Trust**
## **Report of the Trustees for the Year Ended 31 December 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The charitable company's objectives are:-
(a) To promote the conservation of Holme Mills Biggleswade, Bedfordshire, and its environs with a view to increasing public knowledge and awareness thereof.
(b) To advance knowledge and educate the public in the understanding, appreciation and enjoyment of milling and its associated cultural and natural environment.
(c) To establish and carry on and maintain an educational and interpretive facility at Holme Mills, Biggleswade, focussed on grain milling and its cultural and environmental setting including farming the natural environment gardens and other habitats including all types of animals and plants therein.
(d) To afford the general public and interested groups of persons access to Holme Mills.
## **Public benefit**
The Trustees continue to develop the Jordans Mill tour experience for visitors to make the most of the Holme Mills site.
Self guided as well as pre-arranged Mill tours are available and cover the process of flour milling, the benefits of wholegrains as well as a background to 1000 years of milling in the Ivel Valley.
Garden tours led by the Head Gardener cover farming, including market gardening, as well as food production in Bedfordshire.
For younger visitors and their families there are a regular series of outside trails which are based in the outlying meadow and which encourage activity and fun.
The Trustees continue to work on improving the gardens and meadow and on interpreting local food stories and food history encapsulated in our slogan "Keeping our food heritage alive"
The Trustees have had due regard to guidance published by the Charity Commission on public benefit. The Trustees confirm that they have referred to the guidance when reviewing the Charity's aims and objectives.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The mill visitor experience benefits from a variety of enhancements to the site and also from exhibitions and events run periodically alongside normal activities.
## **FINANCIAL REVIEW**
## **Financial review and principal funding sources**
Income is derived from mill shop sales, mill admissions and Charity events, plus a contribution from Holme Mills Heritage Centre Limited towards the costs of the gardens and meadow upkeep.
The Covid-19 pandemic and restrictions during the year continued to cause significant downturn in visitor numbers and income to the charity, giving rise to the net deficit reported for the year.
Total income amounted to £171,359 from which had to be deducted expenditure amounting to £205,504 leaving a net deficit of £34,145. This has been included in the unrestricted funds carried forward at the financial year end of £1,326,482.
The trustees are satisfied that the Charity's assets are available and adequate to fulfil its obligations.
## **Reserves policy**
At the year end the trusts unrestricted reserves, excluding fixed assets, are £180,363. These reserves are held to meet the charitable company's objectives as detailed above.
Page 1
**The Jordan Trust**
## **Report of the Trustees for the Year Ended 31 December 2021**
## **FUTURE PLANS**
Considerations for further development of the site and its activities are being investigated having regard to the charity's objectives.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document & constitution**
The Charitable Company is registered as a charitable company limited by guarantee, and was set up by a Memorandum of Association.
The Charitable Company is constituted under a Memorandum of Association and is a registered charity, number: 1131148.
The principal objective of the Charitable Company is to preserve the heritage of Holme Mills, Biggleswade, and its environs.
## **Recruitment and appointment of new trustees**
The management of the Charitable Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
## **Organisational structure**
Mr R D Jordan has been delegated with the day-to-day management of the Trust.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
06749627 (England and Wales)
## **Registered Charity number**
1131148
## **Registered office**
Holme Mills Langford Rd Biggleswade Bedfordshire SG18 9JX
## **Trustees**
W J Jordan Miller R D Jordan Company Director W B Kendall Director
## **Independent Examiner**
George Hay Partnership LLP Chartered Accountants Brigham House High Street Biggleswade Bedfordshire SG18 0LD
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 14 September 2022 and signed on its behalf by:
W J Jordan - Trustee
Page 2
## **Independent Examiner's Report to the Trustees of The Jordan Trust**
## **Independent examiner's report to the trustees of The Jordan Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I 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.
R C Dilley FCA FCCA George Hay Partnership LLP Chartered Accountants Brigham House High Street Biggleswade Bedfordshire SG18 0LD
15 September 2022
Page 3
**The Jordan Trust**
## **Statement of Financial Activities for the Year Ended 31 December 2021**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Heritage preservation
Other trading activities
2
Other income
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Heritage preservation
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|2021
Unrestricted
fund
£
1,243
17,215
152,901
-
171,359
109,895
95,609
205,504
(34,145)
1,360,627
1,326,482|2020
Total
funds
£
185
29,576
95,933
2,770
128,464
81,872
108,324
190,196
(61,732)
1,422,359
1,360,627|
|---|---|---|
The notes form part of these financial statements
Page 4
**The Jordan Trust**
## **Balance Sheet 31 December 2021**
|Notes
**FIXED ASSETS**
Tangible assets
6
Heritage assets
7
**CURRENT ASSETS**
Stocks
8
Debtors
9
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
11
Unrestricted funds
**TOTAL FUNDS**|2021
Unrestricted
fund
£
21,119
1,125,000
1,146,119
10,820
5,648
179,142
195,610
(15,247)
180,363
1,326,482
1,326,482
1,326,482
1,326,482|2020
Total
funds
£
28,158
1,125,000
1,153,158
11,875
4,973
221,924
238,772
(31,303)
207,469
1,360,627
1,360,627
1,360,627
1,360,627|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
## The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 5
continued...
**The Jordan Trust**
## **Balance Sheet - continued 31 December 2021**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 14 September 2022 and were signed on its behalf by:
W J Jordan - Trustee
The notes form part of these financial statements
Page 6
**The Jordan Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The presentation currency of the financial statements is the Pound Sterling (£).
## **Legal status of the charity**
The Charity is incorporated as a Charitable Company, limited by guarantee. Further details are noted within the Report of the Trustees on page 2 of these accounts.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows;
- the requirement of paragraph 3.17(d);
- the requirement of paragraph 33.7.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## Sale of goods
Turnover from mill shop sales is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
## Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from services such as mill admissions, tour tickets and Charity events is recognised by reference to the stage of completion at the balance sheet date.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance Fixtures and fittings - 25% on reducing balance
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Costs includes costs directly attributable to making the asset capable of operating as intended.
Page 7
continued...
**The Jordan Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **1. ACCOUNTING POLICIES - continued**
## **Heritage assets**
Heritage assets are fixed assets which are of historical significance and are held in order to advance the preservation and conservation objectives of the charity.
Heritage assets are not depreciated, as the trustees believe the life of heritage assets are sufficiently long and the residual value sufficiently high that any depreciation would be immaterial. Any permanent diminution in value is charged to the Statement of financial activities as it occurs.
General repairs and maintenance expenditure is written off in the year to which it relates.
Every endeavour is made to maintain, protect and safeguard the assets for future enjoyment.
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Debtors and creditors receivable / payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
## **2.**
## **OTHER TRADING ACTIVITIES**
|**OTHER TRADING ACTIVITIES**|||
|---|---|---|
||2021|2020|
||£|£|
|Retail and garden sales|152,901|95,933|
Page 8
continued...
**The Jordan Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **3. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||2021|2020|
|---|---|---|
||£|£|
|Depreciation - owned assets|7,039|9,205|
|Independent examination fee|2,750|2,750|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **5. STAFF COSTS**
The average monthly number of employees during the year was as follows:
||2021|2020|
|---|---|---|
|Shop & Garden|3|4|
No employees received emoluments in excess of £60,000.
## **6. TANGIBLE FIXED ASSETS**
|**COST**
At 1 January 2021 and
31 December 2021
**DEPRECIATION**
At 1 January 2021
Charge for year
At 31 December 2021
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020|Plant and
machinery
£
18,370
14,466
976
15,442
2,928
3,904|Fixtures
and
fittings
£
205,521
181,267
6,063
187,330
18,191
24,254|Totals
£
223,891|
|---|---|---|---|
||||195,733
7,039|
||||202,772|
||||21,119|
||||28,158|
Page 9
continued...
**The Jordan Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **7. HERITAGE ASSETS**
|**HERITAGE ASSETS**||
|---|---|
|**VALUATION**
At 1 January 2021 and
31 December 2021
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020|Total
£
1,125,000|
||1,125,000|
||1,125,000|
The Charity owns the Holme Mills Heritage Site consisting of the mill premises, visitor site and shop together with the mill gardens and meadow.
The Holme Mills Heritage Site is classified as a Heritage Asset and is stated at valuation. The Heritage Asset was independently valued in July 2019 by D W Clifton BSc FRICS.
No Heritage Asset transactions have occured in the last 5 years.
## **8. STOCKS**
|Stocks
**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Holme Mills Heritage Centre Ltd
VAT
Prepayments and accrued income
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
W Jordan & Son (Holdings) Ltd
Holme Mills Heritage Centre Ltd
Accruals and deferred income|2021
£
10,820
2021
£
737
3,374
1,537
5,648
2021
£
11,143
-
-
4,104
15,247|2020
£
11,875|2020
£
11,875|
|---|---|---|---|
|||2020
£
-
4,973
-
4,973
2020
£
11,919
6,678
6,230
6,476|2020
£
-
4,973
-|
||||4,973|
|||31,303||
Page 10
continued...
**The Jordan Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **11. MOVEMENT IN FUNDS**
|At 1.1.21
£
**Unrestricted funds**
General fund
1,360,627
**TOTAL FUNDS**
1,360,627
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
171,359
**TOTAL FUNDS**
171,359
**Comparatives for movement in funds**
At 1.1.20
£
**Unrestricted funds**
General fund
1,422,359
**TOTAL FUNDS**
1,422,359
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
128,464
**TOTAL FUNDS**
128,464||Net
movement
in funds
£
(34,145)
(34,145)
Resources
expended
£
(205,504)
(205,504)
Net
movement
in funds
£
(61,732)
(61,732)
Resources
expended
£
(190,196)
(190,196)|At
31.12.21
£
1,326,482
1,326,482
Movement
in funds
£
(34,145)
(34,145)
At
31.12.20
£
1,360,627
1,360,627
Movement
in funds
£
(61,732)
(61,732)|
|---|---|---|---|
|||||
|||||
|||||
|||||
Page 11
continued...
**The Jordan Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **11. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.20
£
1,422,359
1,422,359|Net
movement
in funds
£
(95,877)
(95,877)|At
31.12.21
£
1,326,482|
|---|---|---|---|
||||1,326,482|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
299,823
299,823|Resources
Movement
expended
in funds
£
£
(395,700)
(95,877)
(395,700)
(95,877)|
|---|---|---|
All the charity's funds are unrestricted general funds held to preserve the heritage of Holme Mills, Biggleswade, and it's environs.
## **12. RELATED PARTY DISCLOSURES**
The charity recharged an element of costs incurred to maintain the mill premises and gardens to Holme Mills Heritage Centre Ltd, a company under common control of trustees Mr W J Jordan and Mr R D Jordan. The amount recharged during the year was £7,000 (2020 - £7,000).
At the period end the charity was owed £737 (2020 - £6,230 due to) by Holme Mills Heritage Centre Ltd.
At the period end the charity owed and was owed £nil (2020 - £6,678 due by) to/from W Jordan & Son (Holdings) Limited, a company under common control of the trustees, Mr W J Jordan and Mr R D Jordan.
Page 12
**The Jordan Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Other trading activities**
Retail and garden sales
**Charitable activities**
Mill admission
Recharged garden costs
Trust event sales
Government Grants
**Other income**
Revaluation gain
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Opening stock
Shop purchases for resale
Garden purchases for resale
Wages
Social security
Pensions
Volunteer costs
Closing stock
**Charitable activities**
Wages
Social security
Pensions
Gardening and landscaping
Trust event purchases
Plant and machinery depreciation
Fixtures and fittings depreciation
**Support costs**
**Management**
Wages
Social security
Carried forward|2021
£
1,243
152,901
-
7,000
6,530
3,685
17,215
-
171,359
11,875
73,006
609
28,388
2,048
465
-
(10,821)
105,570
31,987
2,727
646
3,046
4,421
976
6,063
49,866
21,619
1,991
23,610|2020
£
185
95,933
1,188
7,000
6,566
14,822
29,576
2,770
128,464
14,218
47,776
2,498
28,062
989
151
53
(11,875)
81,872
35,637
2,919
700
4,353
1,899
1,121
8,084
54,713
27,077
2,345
29,422|
|---|---|---|
This page does not form part of the statutory financial statements
Page 13
**The Jordan Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2021**
|**Management**
Brought forward
Pensions
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Computer expenses
Repairs and renewals
Cleaning
Health and safety
**Finance**
Bank charges
**Governance costs**
Accountancy
Legal fees
Total resources expended
**Net expenditure**|2021
£
23,610
470
1,742
1,212
9,653
484
222
988
457
1,753
4,589
284
239
45,703
1,050
2,750
565
3,315
205,504
(34,145)|2020
£
29,422
519
1,150
1,639
9,963
646
100
321
93
1,962
946
410
1,229
48,400
847
2,750
1,614
4,364
190,196
(61,732)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 14