Heron Corn Mill (Beetham) Limited CHARITY NO.. 1131677 COMPANY NO.. 06784856 HERON CORN MILL (BEETHAM) LIMITED A COMPANY LIMITED BY GUARANTEE DIRECTORS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Page 1 Heron Corn Mill (Beetham) Limited Contents Page No. Trustees Report Independent Examinerfs Report 10 Statement of Financial Activities Balance Sheet 12 Cash Flow 13 Accounting Policies and Notes 14-24 Page 2 Heron Corn Mill (Beetham) Limited Re ort of the Trustees for the ear ended 31 December 2020 The Trustees present their report and the financial stslements of the Trust for the year ended 31 December 2020. The Iruslees have adopted the provisions of the Statement of Recommended Practice ISORPI"Accounting and Reporting by Charities" (FRS 1021 in preparing the annual report and financial statements of the Trust. The financial statements have been prepared in accordance with the accounting policies sel out in the notes to the accounts and comply with the Trust's governing document, the Charities Act 2011 and Accounting and Reporting by Charities= Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland published in October 2019. Chair's Raport As Chair of the Heron Corn Mill {Beethaml Ltd l am 8ble lo report an unusually outstanding year in what has been extremely difficult with the Unpre￿dented Covid-19 pandemic arriving in early March. 2020 was lo have been our celebratory year, with the culmination of a major Heritage Lottery project- 1220-20201800 Years of Milling) bul all plans lo compl&le this project and indeed have a showcase of work within an arts festival had lo be shelved. It is hoped to be able to do this in 2021. When the pandemic hil, the mill was having problems with floods, heavy rainfall had been causing concerns over rising water in the barn stairwell, and the possibility of yet another floodwater problem in the mill. Also, during one of our workshops. a major power cable blew up outside, as the water table was rising so quickly. This caused damage to internal lighting, turbine, and equipment throughout the mill, barn and shepherds hut. All activity and events cancelled, the miller set lo with repairing damage. The Creative Projects Manager spent her time applying for and accessing emergency funding for all aspects of the work in hand. The grants were extremely forthcoming for which we are grateful. Our miller could not be furloughed as he needed to repair and maintain equipment to prev6nt it seizing up. The two main members of staff continued lo work, at first in a reduced way. allernale days, and then more fully throughout the tier system. Gradually all work was undertaken and the buildings back in order. The Creative Projects Manager quickly adapted the usual programme of education wth our community groups, so that the children and teenagers could meet regularly and work online with their tutors. and we offered our 20 laptops to those children with no equipment to get online. The elderly groups who do crafts were sent videos and templates of how to continue their craft projects. The elderly and those with memory loss, instead of coming lo the barn for reminiscence work, were sent a large box of reminiscence materials and music, with a hot cooked meal by the volunteers and staff. Over 60 boxes were delivered monthly, and a special Christmas one was delTriered lo over 67 eldefly people, many in their go's and one who is 102 years old. We finished the year in a good position. with all our community groups well seNed and looking forward to a future dale when they can re-convene in the barn for workshops and friendly sessions. Deliveries of materials and resources will continue until that time, thanks to our supporters. In closing, I would like to thank the staff and volunteers, trusts and foundations and a few stalwart volunteers. without whom we would not be able to offer our facilities and resources to the wider community, and I look fO￿ard to celebrating our long-awailed ￿lebratiOn of work in later 2021. Roger Bingham Chair Page 3 Heron Corn Mill (Beetham) Limited ort of the Trustees for the ear ended 31 December 2020 continued Our Purpose and Activitie5 The purposes of the Charity are= al To restore, preserve, and upkeep the Heron Com Mill lo ils original fomi as a fully working water powered corn mill - on a sile first used for a mill in the 13th century - as a working museum open to the public and for the general benefit of the community, and for the educational benefit of students, researchers and others. and any other charitable purposes tending to encourage interest in the history and industry of the area. b} To advance the education of the public in the conservation, protection, improvement, and mutual co-dependency of the physical and natural environment by demonstrating and promoting the use of renewable enorgy technology particularly. bul not exclusively, using hydropower. cl In fLlrtheran￿ of the above objects, but not olhenmise. the power to arrange lectures. exhibitions, shows, projects and events for the benefit of the public, and to print, publish, and make available to the public by sale or otherwise of lileralure, ￿prodUctIOns, photographs and the like. The vision that shapes our annual activities remains the sustainability and appreciation of the worf(ing heritage here al Heron Corn Mill. We have a general aim lo contribute to the quality of life and knowledge sharing within our communities and visiting public. In shaping our objectives for the year and planning our activities we continue to refer to the main themes of the heritage sile, which creates a rich and diverse programme for all se¢tors of the community and visiting public. We aim lo give our visitors and site users a good experien￿ and affordable events and activities, and we are planning a re-opening post Covid-19 al some point in the middle of 2021, when restrictions allow. Meantime, we are making the site cleaner, safer and secure. in readiness for the public return. The Trustees confimi that they have referred to the general guidance on public benefits issued by the Chafity Commission when reviewing and planning the charity's aims and objectives. The strategies we employed throughout 2020 were.. Upkeep of the mill, maintenance and repair, and accessible interpretive resources Offered creative and educational activities for a broad range of people, in particular the elderly, with Crafternoons, Bread of Heron, Grain Chain and the new Powsowdie, most activity being online due to the pandemic, but deliveries of food, flour and resources were made lo the elderly and vulnerable in the surrounding villages. Develop our ever-expanding youth group activities lo cover themes of engineering, science and technology and to test out online delivery due lo the pandemic. Review our offer of good educational programmes lo primary schooSs, colleges, university groups and specific interest groups who might visit in future years. Consider using the skills of young artists to help develop new ideas for the education work. Page 4 Heron Corn Mill (Beetham) Limited Re ort of the Trustees for the earended 31 December 2020 continued Putting these activities into action we have the following main areas of activity.. Schools- We tie into the national initiative such as British Science Week, National Mills Weekend, Museums at Night and Heritage Open Days- this can help with funding and certainly helps wtth promotion and free promotional materials. Mill Hoppers Youth Group - now split 10 2 age groups as numbers have risen significantly. There are currently 100 young people as members. Our young people continue lo leam through the main subjects of engineering, science and technology. At teenage level they are invited lo join 808, a teenage group where they are given more creative freedom, and mentored towards becoming volunteers. Archive- creating artists opportunities to engage with our expansive archive and interpret the results into public performances or events through the resear¢h. We are looking lo revive IN the future, in some way. the North West Mills Group to which a lot of archive material is attached. Cr8ftemoons- craft activities for the elderly, these are expanding and over 26 e5derly people now allend once a month, we are looking to expand posl-Covid-19, lo a wider range of activities for the elderly. Milling demonstrations a monthly event for the public lo engage with our milling days will begin again post Covid-19, for the public lo beller understand the value of industrial heritage, water power and the making of fine stoneground flour. Historically these are well-allended, sometimes local history groups will book to come to a milling demonstration, and numbers can be quite high. Biead of Heron- This began as one group, we now have 4 groups, led by enlhusiaslic volunteer bakers, all who have spent many weeks being taught how to make really good bread. This project is exceptional in that it is becoming self-sustaining. Using our own flour, and receiving a small donation from each baker taking part, it is immensely popular with a long w811ing list for places. Bread of Heron has now been running successfully since 2015. During Covid-19 the bread-making continued under the tier system, but was abandoned later in the year. 11 is hoped to re-start during 2021. The Grain Chain - Now in ils second year, this initiative seeks lo dovelop a baking group for those with mental health issues and leaming difficulties, in need of a therapeutic activity. We have fom)ed a partnership with Men in Growing Well {Sizergh} and are hoping lo engage wilh other groups during the latter half of 2021. The Events Programme We create a twice yearfy programme, spring and summer, autumn and winter. We create and promote a variety of events, activities and experiences for all sectors, ages, abilities and cultures within it. The themes are always broadly based around flour production. bread making, agricultural, rural life, engineering, technology, and hydropower. We engage mainly with local artists and educators to run the events. Due to Covid-19, our activities were offered online or by delivery in a box lo individuals and this continued throughout 2020. A full adapted programme under the umbrella of MAKE YOURSELF AT HOME-BUSINESS AS UNUSUAL was undertaken, with funding from various sources, mainly emergency funding from the Lottery Funds. Page 5 Heron Corn Mill (Beetham) Limited R8 ort of the Trustees for the ear ended 31 December 2020 continued Achievements and Perfom)ance We have been very fortunate with granl-funding during 2020. despite the terrible effects of the pandemic on all organisalions. We have managed lo keep going, with a good adapted programme that offered a range of activities and communications from stsff and volunteers to all our community groups. A fortnighlly newsleller throughout the year kept everyone up lo date with events, and resources and materials were sent or delivered to all those who needed them, including the elderly. isolated and vulnerable members of our community. A project for which we were highly commended by Ihe High Sheriff of Cumbria, who also helped deliver food boxes during the summer of 2020. We are looking forward lo building on our knowledge from working in this adapted way, and to gelling people back into the barn and day visitors back on lo sile al some point during 2021. Covid-19 {Coronavlrus} Review On 23 March 2020 the Prime Minister addressed the nation announcing Unpre￿dented limits on where and how people can meet and gather during the pandemic. This introduced lockdown rules chief of which was the need to °social-distance" keeping at least 2m apart from each other. This effectively kept everyone at home apart from essential services. The Heron Com Mill was not an essential services so had to close - which it did on 14 March 2020. I l Effect on Charity's activities There are two full lime members of staff. Audrey and StU8rt. Audrey was able to work from home full lime and Stuart was not furfoughed as he is needed lo keep the mill running preventing it from seizing up, and lo check the sile and keep the turbine working. He did this 1-2 days per week. All workshops and events were can￿lled. Andy (who is 2 days per weekl works from home and co-ordinates a remote programme which incorporates all the established groups we run, offering them a remote service that they can engage with. It has not been possible lo engage with volunteers since the pandemic began. as many of these are retired people and some with health concems.11 was deemed impossible to engage with others on sile. Volunteers are being kept updated of all activity and measures to continue our services and programme, and will be until they are able lo fully engage with it again. 21 AbS11ty to Fund-raise Fundraising was managed by Audrey from home, and very successfully too. The Small Business Grant was obtained from SLDC in the first fortnight of lockdown, and since then several grants relating to projects have been obtained. together with some emergency funds lo change the way we offer our services and resources to our groups. and to help with paying existing costs to ensure the Charity survives during the pandemic. Emergency funding has been secured to the end of June 2021. as from then il is hoped that a gradual return lo normal can commence. 3} Effect on staff and events for the coming year All the activities planned for spring, summer and autumn were cancelled. However, most of our programme 2clivily is part of 8 sponsored project, therefore many events and workshops were to be offered free. and therefore we are losing minimum income there. It is hoped that events and programmes can commence once again from July onwards following the Govemment's announcement on 22 February 2021 of a four-step plan lo lift all restrictions by 21 June 2021. Page 6 Heron Corn Mill (Beetham) Limited ort of the Trustees for tho ear ended 31 December 2020 continued 41 Effect on future aims and activlties Future aims and activities are now back on the agenda following the Govemment's announcement. Detailed plans for these will be drawn up ready to implement once the green light has been signalled. 51 Financial Effect The Covid-19 pandemic has had a positive impact on the finances of the Charity. Emergency funding was secured to help with existing costs, and this is in place until the end of June 2021. In addition we had a good year on the turbine income. Both these factors have helped the Charity's financial position to the point that for the first time ever we are able lo report a surplus of unreslricled reserves. In terms of future sustain8bility the Charity has been granted £75,000 from Power lo Change (Business in the Community) lo enable the Charity to buy a screen cleaning system for the turbine which will add additional unreslricled income each year. This was supported by a three year forecast which remains largely unaffected by the Covid-19 outbreak - assuming of course, that the pandemic comes under control in the coming months. The screen cleaner became operational from the beginning of March 2021. Flnanclal Revlew For the year to 31sl Dec 2020 the charity recorded unrestricted income of £115k (prior yaar £119KI. Unrestricted expenditure amounle(J 10 £95k Ipr yr £111 kl, leaving a surplus over expenditure of £20k Iprior year £8kl. Adding back depreciation improves the surplus to £46k compared lo the comparable surplus of £34k in 2019. This improvement of £12k comes from grants received due to Covid-19 pandemi¢ enabling some items of unreslricled expenditure lo be offset by these grants (hence the lower overall unrestricted expenditure figure). Cash was an inflow of £47k in the year which is a slight reduction on the £50k inflow achieved in 2019 - but another inflow nonetheless. The inflow was achieved due lo the excellent performance of the Creative Projects Manager in securing funding lo keep the Charity open during the Covid-19 pandemic. Reserves Pollcy Unrestricted reserves as at 31 December 2020 are in deficit by £92,977 compared to the 2019 deficit of £137,259- an improvement of £44,282. Included in the deficit is a sum of £116,05712019 £125,496) ￿presentIng a long term loan and other liabilities which, in the main, are not due for repayment until more than 12 months from the balance sheet date. This transforms the unrestricted reserves defi¢il lo a surplus of £23,08012019 a deficit of £2,9761- an improvement of £26,05S. and the first time the Charity has recorded a positive unrestricted reserve. The Charity has now reached ils aim to have ¢ash reserves of some £15,000 lo cover at least 3 months essential operating costs. The next step is to ensure this is maintained and improved upon. Page 7 Heron Corn Mill (Beetham) Limited Re ort of the Trusteas for the earended 31 December 2020 continued Reference and admlnlstratlve details Company number.. 06784856 Charity number.. 1131677 Trustees.. Roger Bingham Robert Dickinson Janice Dyson (Resigned Jan 20211 Paul Lusted Robert Parkinson Sharon Peill Tristan Donato (Appointed Jan 20211 Treasurer.. Denise Noble Secretarylmanager.. Audrey Steeley Registered Office.. Mill Lane Beelham Milnthorpe Cumbria LA7 7pa Bankers.. CAF Bank Ltd 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME194JQ Independent Examiner-. lan Clark FCCA MHA Moore and Smalley Kendal House Murley Moss Business Village Oxenholme Road Kendal LA9 7RL structure, Governance and Management Constltution Heron Com Mill (Beelhaml Limited is a company limited by guarantee and a ￿gIStered charity govemed by its Memorandum & Articles of Association.11 was incorporated on 7 January 2009. Its objectives were amonded by a resolution dated 23 December 2011. Organlsatlon The charity is organised and run by the Trustees. There must always be at least one senior manager of BillerudKorsnas Beelham Limited acting as a Trustee. In the year ended 31 De￿rnber 2020 this Trustee was Sharon Peill. Day lo day administration is the responsibility of the Charity Manager who reports lo the Trustees. Page 8 Heron Corn Mill (Beetham) Limited Re ort of the Trustees for the ear ended 31 December 2020 continued Selection and inductlon of new Trustees In selecting individuals for appointment as Trustees, the Trustees take into consideration the skills. knowledge and experience needed for the effective administration and future progression of the Charity. The Trustees make available to each new Trustee, a copy of the governing document and any amendments thereto. and a copy of the Charity's latest report and statement of accounts. Risk Management The Trustees have identified the major risks lo which the charity is exposed. Those risks have been reviewed and systems established to mitigate them. In keeping under review the Trust's activities, Trustees are mindful of the potential for any changes lo the present range of risks and will adjust systems when and where required. statement of Trustees, res onsibilltles Accounting and reporting responsibilities The trustees (who are also directors of Heron Corn Mill (Beethaml Limited for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial ststemenls in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Praclicel. Company law requires the trustees lo prepare financial slalements for each financi81 year, which give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and applic81ion of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements. the trustees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP 2019 {FRS 1021,. make judgements and estimates that are reasonable and prudent.. slate whether applicable Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements- Prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any lime the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the pravenlion and detection of fraud and other irregularitias. Approved by the Trustees on and signed on their behalf by R K Bingham {Chairmanl Page 9 Heron Corn Mill (Beetham) Limited Inde endent Examiner's Re ort to the Members of Heron Corn Mill Beetham Limited I report to the Trust Iruslees on my examination of the accounts of the Company for the year ended 31 December 2020 which are set out on pages 11 to 24. Responsibilities and basis of report As the charity trustees of the company land also ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'lhe 2006 Act'l. Having satisfied myself that the accounts of the company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's a￿Ount$ as carried out under section 145 of the Charities Act 2011 {'the 2011 Acl'l. In Carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerfs statement Since the company's gross income exceeded £250.000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of ACCA, which is one of the listed bodies. 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 that in any m8terial respect.. accounting records were not kept in respect of the company as required by sects'on 386 of the 2006 Act- or 2. the accounts do not accord wlh those records., or 3. the accounts do not comply wth the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue 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 St8nd8rd applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. lan Clark FCCA For and on behalf of MHA Moore and Smalley Chartered Accountants Kendal House Murley Moss Business Village Kendal Cumbria LA9 7RL Dale 0610712021 Page 10 Heron Corn Mill (Beetham) Limited Statsmantof Flnanelal Acti￿tIo8 (Includ￿g Incpenditure Wds incurred. Where oosts c8nnol b8 direcly attributed to particuL4r headings they have boen althated on a basis consstent wlh use of the resources. 1.6 Investment income Inv8strn&nt income represents interest earned on the investment of ternporary surpius funds placed on deposit, and is inclLKJed in the accounts then recelvablè. Page 15 Heron Corn Mill {Beetham) Limited Notes to the Flnanclal Statements {continuedl for the year ended 31 December 2020 1.7 Tangible fixed assets and d&preciation All fixed assets are originalty recorded al cost. Depreciabon is calculated so as to wite off the cost of an asse( Ip￿5 its estinTrted residual Vdlue, over the useful economic life of that ass81 as folkM6'. Bam and Olher equiprnenl Computer equiprnent dro turblntr 10Y. - 200/0 straight lin8 33Qk straight line 4.10 straight Ine 1.8 Hèrltagè Ass•ts The improvements to Heron Corn Mill, Beeiham are stated at cost. Significant funds have been ewended in restoring and Maintaining Heron Corn Mill and in iiew of this the Trustees do not believe any promsion for depreclation or ImpalrrrÉnt is required. 1.9 Operating leases Rentsls applicable to operal'ng ￿aSeS are charged to the StaterNenl of Financial AotiMUes the period of the kase on a straight line basis. 1.10 Debtors and créditors ree&tvablel payable within one year Debtors and creditors wth no stated interest rate and receivablè or payab￿ wthin one year are recorded al transa¢b"on PTlCé. Any losses arising from i￿airment are recognised in e)p8nditure. 1.11 Cash at bank and in hand Cash 81 bank and cash in hand includes cash and short term highly liquid investn￿nts t short malurity of three months or less from Ihe date of aoquisition or opgning of the deposit or similar account 1.12 Flnanclal Instruments The charity only has financial ass8ts and financial liabilities of a knnd that qualify as basic financial instrurmnts. Basi¢ financial instruffents are init'ally recognised at transaction value and subsequenly measured at their setuement value wlh the exception of bank loans thich are subsequenty measured at amrtised cost using the ttffecti￿ interest ￿ethod. Page 16 Heron Corn Mill {Beetham) Limited Not&s to thè Financial Statements Icontinuedl for the year ended 31 December 2020 2. Donatitsns and Lagacles 2020 2019 Donations from Msitors Donation from BK Beetham Ltd 931 5,OLKI 2,805 7,997 5.931 10,802 All donations in 2019 are unreslricled income, bul in 2020 £35 is restricted. 3. Grants Raeèl¥ed Grants MEre reCeI￿d from th8 follo￿l￿g b(xlies', 2020 2019 Pow8r To Change SLDC Cumbria Comn￿nity Foundation Garfiekj Weston The Hadfield Charitsbk Trust D'oily Carte Charital￿e Trust The Dowager Peel Tesco IBags of Helpl Concertina Charitab Expat Foundation Henry Herd Trust Sharples Fund Swre Charitable Trust Foyb Foundation Derbyshire EniAronmental Trust {Tarrnacl Ed￿￿rd &)sling Foundakn'on ￿ne￿h Trust CCF + #lwl Fund Radcliffe Trust The Cotton Industy War VEmorial Trust JSF Pollitzer Charitable Trust Fort Foundation John Gilpin Mrs K Laurence's Charitable Trust Elspeth J Thompson Harold & Aice Bridgès WG Edwards Holmes Hines Croppers Blakemore 55,000 11,334 9,963 5,000 3,000 2,000 1,500 1,166 100 14,2(X) 500 2,000 17,500 13,000 7,000 6,900 S,(￿0 4.250 3,000 2,000 2,(XlO 2,C(JO 2,000 1.500 I,(K)O 1,(KJO 1.000 500 500 2.000 500 50 92,063 86,900 The inconE from grants recei￿d totalled £92,063 in 202012019.. £86,900) of thi¢h £Tt,729 was restricted 12019.. £86,900) and £14,334 was Ljnreslricted {2019.' £01. Page 17 Heron Corn Mill (Beetham) Limited -slthg rf- uéi80) Page 18 Heron Corn Mill (Beetham) Limited U) (F& I 11 gg888È&8gÈ>{ oo* o rq * I giig{&&£88-8 ? P4 rfj*ooo Page 19 Heron Corn Mill (Beetham) Limited Notes to the Financial Staten￿nts Icontinuedl for the year ended 31 Decembèr 2020 2020 2019 5. Heritage Lottery Fund J220-20201800 Years of Milling) National Lottery Comd 19 Fund Fkritagg Emergency Fund Culture ReCO￿rY Fund 2,625 22,350 19,000 68,040 21,0(M) 112,015 21,￿0 6. Investment Income 2020 2019 Inlerost R¢cèiYatAè 38 75 7. Net inconpll8xpendTrturel for thè yèar 2020 2019 This is stated after charging- Depreciation Independent Eyamination 26,102 2,680 26,155 2,600 8. Expèndlture on charttable activlties Eyenditure on charitable actimties in 2020 was £123,81912019-. £109,084) of ythich £102,119 Wds restrict 12019.. £70,31618nd £2,170 Mvds unrèstrlct6d12019.' £38,768). 9. Trustees Robert Dickinson, a trust88, li￿5 closest to the Mill, gets paid for keeping the turbine golng ou&id* of norml office hcxjrs. He quite regularly ckans Ihe turbin8 in th8 early hoLJrs of the morning! He inwices the Corn Mill for this serwloe ￿1¢h in 2020 amounted to £4,56012019 £5,240). Non6 of Ihe other Trustees reCeI￿d any remunerakn'on during the year, rK)r there any of the Trustees reimbursed for any e>penses12019- None). 10. Wages There ￿tre 2 eThpbyees under contract by the charity during the year12019- 21. emFloyee was paid rrK)re than t60,000 in Ihe year. 2020 2019 Breakdow of costs.. (>oss Wages paid NIC contributions Pension contiibLJtions 7Q,261 3.283 1,735 75,279 68.511 4,087 1,549 74,147 Page 20 Heron Corn Mill (Beetham) Limited Notes to the Financial Stalements Icontlnuedl ft)r the year ended 31 December 2020 11. Related Party Transaetlons The foll0v￿n￿ Trustees are also rnanagers of 8illerudKorsnas Beetham Limited.. Sharon Peill & Robert Dickinson BillerudKorsnas Beelham Limited 0￿5 the site of Fkron Corn M'll (Beethaml Linited and does not charge any rent to thè charity. The lease dated 23 May 1974 being for 99 years and a peppercorn rent payable. In the year Heron Corn Mill IBe8thaml knmited inwiced BillerudKorsnas Beetham Liniled £22,347 In respect of el¢Gtricity gener2ted by the Turbine12019.' £26.5991. Included in other debtors al the y8ar end is £1,250 due from Bil￿rUdKorsnaS Beetham Lirrwted 12019- £10,304). 12. Tangible Fixed Assets Hydro Turbine Other Computer Equipment Equipment Total Cost At 1 January 2020 Additions in year Disposals and wite-offs at cost Al 31 December 2020 538.484 64,267 58,888 6,569 603.941 64,267 602.751 58,888 4569 668,208 Accumulated Depreciation At 1 January 2020 Charged for the year Disposak and wit&offs At 31 December 2020 198,971 21,548 37,305 4,554 6,569 242,845 26,102 220,519 41.859 6.569 Net Book Value At 31 December 2020 382,232 17.029 399 261 At 31 December 2019 339,513 21,583 361,0 Page 21 Heron Corn Mill (Beetham) Limited Notes to the Financial Statement5 IconlSnuedl for the year ended 31 December 2020 13. Herltage Assèts Lèasehold Property Improvements Cost Al 1 January arKI 31 De¢errt)er 2020 872,030 Net Book Value At 31 December 2020 872,030 Ckn 13 June 2013 a Legal Charge over the ￿asehOld propèrty kno￿ as Heron Corn M'll was signed in fawur of the Trustees of the Heritsge Lottery Fund as part of the conditions that had to be nEI before the grant of £939,1(Kl could ¢omm8n¢8 to bè spènt Th6 grant has the tile of 'Waterp￿r Connection" 14. Debtors and Prepaymènts falling due wtthln onè year 2020 2019 HM Revenue & CustonB- VAT Prepayments & Accrued Inco her Debtors 34,317 1,250 35,5gg 18,470 10,665 29,135 15. Credltors: an￿￿ntS falling due within one year 2020 2019 Rekenue & CUSto￿- PAYE & NSC + VAT 1,932 9,421 145 26,975 6,103 44,576 4,188 8,787 329 25,665 5,105 44,074 Charity Bank loan (Xher Creditors- Pension Trade ereditr>rs Accruals and deferred Inco￿ Page 22 Heron Corn Mill {Beetham) Limited Notes to the Financial Statements Icontinuedl for the year ended 31 Dacèmber 2020 16. Cr8ditors falllng due after one year 2020 2019 Charity Bank Loan 102,311 111,751 Analysis of loans Wholty repayable wrythin five years By instalments Not ￿011Y repayab￿ wthin fi￿ years By Instalments 111,732 120.538 111.732 120,538 Included in current liabilities 9.421 8,787 102,311 111,751 The Trust has a IwEnty year loan wth the Charity Bank thich wll be repaid in full by th￿rrt)er 2029. The loan bears interest al 7°h and is secured by a fixed legal charge the leasehokl property kn¢ as Fkron Corn Mill and a chattel rTK>rtgagè 0￿r NFrr Kaplan Turbine and asscciated eqUip￿￿￿t There is aLs0 a d&bethre the enl're undertaking. 17. Summary of Net Assets by fvnd R•strlcted Unrestricted FLsnds Funds Total (Note 4) Fund b81ant6s at 31 Decen*er 2020 are represenied by.. H8ritage Assets T8noible Fixed Assets Net Current AssetsllLiabilitiesl 872,030 399,261 9,334 1,280,625 872,030 399,261 165,753 1,437,044 156,419 156.419 Long Temi Liatxlities 1102,3111 1102,3111 156,419 1 178,314 1,334,733 Page 23 Heron Corn Mill (Beetham) Limited Notes to the Flnanclal Statements Icontinuedl for the yèar Èndèd 31 Dècember 2020 17. Summary of Net Assets by fund Icontinuedl Restricted Unrestricted Funds Funds Total (Note 41 Fund balances at 31 DeCeM￿r 2019 are represented by.. Heritsge Assets Tangible Fixed Assets Nel Current AssetsllLiÈbilitiesl 872,030 361,096 125,5081 1.207,618 872.030 381,096 113,056 1,346,182 138,564 138,564 Long Term Liabilities {111,751} 1111,7511 138,564 1,095,867 1,234,431 18. Taxation As a charity, Heron Corn Mll (Beetraml Llmiled is exgrnpt from Èx on income and gains falling wlhln sections 472 - 474 of the Corporation Tax Act 2010, sections 478- 489 of the Corporation Tax Act 2010, or section 256 of the Tayalion of chargeab￿ Gains Act 1￿2 to the extent that these are applied to its Charitable objects. No t£x charges have arisen in the Charity. 19. Control Thère is no single controlling party of the charity for the current or prfjiAous year. 20. Reconciliation of net movement In funds to nat cash flow from operating activities 2020 2019 Net mvement in funds Add back depreciation Decrease lin¢reasel in debtors Increase Idecreasel in creditors 100,302 26.102 (6,464) 11321 27,699 26,155 2,164 6,221 Nèt cash g8narat&d In operating activitie5 119.808 62,239 Page 24