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 2022 Page 1
Heron Corn Mill (Beetham) Limited Contents Page No. Trustees Report Independent Examiner's Report 10 Statement of Financial Activities Balance Sheet 12 Cash Flow 13 Accounting Polieies and Notes 14-24 Page 2
Heron Corn Mill (Beetham) Limited Re ort of tho Trustees for the èar ended 31 Decembar 2022 The Trustees present their r6POrt of the charity for the year ended 31 De¢8mber 2022 which is also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The Iruslees have adopted the provisions of the Slalement of Recommended Practice ISORPI °Accounling and Reporting by Charities. IFRS 1021 in preparing the annual report and financial slalements of the charity. The fin8n¢ial statements have been prepared in ac¢ordance wth the a¢¢ounting policies set out in notes to the accounts and comply with the charlty's governing docum&nl, the Charities Act 2011 and Accounting and Reporting by Charities.. SlaleTnenl of Recommended Pra¢li¢e applicable to Charities preparing their accounts In accordance with th& Financial Reporting Stsndard applicable in the UK and Republic of Ireland published in October 2019. Chair's Report As Chair of the Heron Corn Mill (Beelhatnl Ltd l am able lo report an unusually outstanding year in what has been extremely difficult with staff members having lo deal with personal health issues. We were however able to continue offering a full programme of events and activities which had been planned and programmed prior to the Creative Project Manager's illness, which kept hèr from WOTking from the office full time. She was however able to work from home several day5 per week and k8pI the fundraising up to date. The week8nd programme of youth club activity was continued with the appointin9 of a new part-time staff mernber lo supervise the group, look after the café and take on some of the fundraising, and began training with the Creative Projects Manager. We finished the year in a good financial position due to the effi¢ient workings of the new automatic screen deaning system on the turbine. enabling less downtime and Cleaning. 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 resour¢es lo the wider community. Roger Bingham Chair Page 3
Heron Corn Mill (Beetham) Limited Rè ort of the Trustees for the aarénded 31 December 2022 contlnuèd Our Purpose and Activities The purposes of the Charity 8re'. al To restore. preserve, and upkeep the Heron Corn Mill to its original fomi as 8 fully working water powered com rnill- on a site 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 ¢harilable purposes tending to encourage inl&resl in the history and industry of the area. bl To advance the education of the public in the eonservalion. protection, impmvem6nl, and mutual co-dependency of the physical and natural environment by derllonstraling and promoting the use of renewable energy technology particularly. but not exclusively, using hydropower. cl In furtherance of the above objects, bul not otherwise, the power lo arrange lectures, exhibitions, shows, projects and evttnts for the benefit of the public, and to print, publish, and make available lo the public by sale or othenlSe of literature, reproductions. photographs and the like. The vision that shapes our annual aclivili&s remains the sustainability and appreciation of the working heritage here at Heron Corn Mill. We have a general aim to contribute to the quality of life and knowledge sharing within our ¢ommunities 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 sectors of th8 community and visiting public. We aim lo give our visitors and sile users a good experience and affordable events and 8Glivilies. and we have done a lol of repair and rllainlenance in 2022 to enable a good and safe opening lo the public and local community in 2023. The Trustees confirm that they have referred lo tha general guidance on public benefits issued by the Charity Commission when reviewing and planning the charity's aims and objectives. The strategies we employed throughout 2022 were- Upkeep of the mill, maintenance and repair, we were able to get millwright help for Stuart, our millerlmillwrighl, in the forrll of Steve Green Blacksmith who is undertaking a bursary until June 2023. Offered creative and educational activitie5 for a broad range of people, in particular the elderly, with Craflernoons, Bread of Heron, Grain Chain and the new Powsowdie. Hands-on was funded to help people with dementia and mobility problems lo bake and lo do craft work with tutors. Kept our youth group programme on track in the absence of our Creative Projects Manager. The programme ran as smoothly as it Could, with the addition of a new part-time weekend worker. Page 4
Heron Corn Mill (Beetham) Limited Re ort of the Trustèès for the ear endad 31 December2022 continued Putting these a¢livilies into action we have the following main areas of aclivily.. Schools- We tie into the national initiative such as British Sciènce Week, National Mills Weekend and Heritage Open Days - this can help with funding and certainly helps with promotion and free promotional maleri81s. Mill Hoppers Youth Group- now split 10 2 age groups as numbers have risen significantly. There are currently 80 young peop18 as members. Our young people continue to learn IhroLJgh the main subjects of engineering, science and technology. At teenage level they are invited to join 808. a teenage group where they are given more creative fretsdom, and mentored towards becoming volunteers. Funding has been awarded for a new baking prolecl with teenagers with mental health issuas. Milling demonslr8lions- a monthly event for the public lo engage with our milling days ¥MII begin again post Covid-19. for the public lo better understsnd the value of industrial heritage, water power and the making of fine stoneground flour. Historically these are well- attended, sometimes loeal history groups will book to come lo a milling dernonslration. and numbers can be quitè high. This has been enhanced by Foodi8 Fridays - where our Bread of Heron bakers make fresh bread for sale after the milling demo, and other charities sell their work in the bam. Bread of Heron - This began as one group, we now have 4 groups, led by enthusiastic volunteer bakers, all who have spent many weeks being taught how to make really good bread. This project is exceptional in that il is becoming self-sustaining. Using our own flour, and reIving a small donation from each baker taking part. il is immensely popular with a long waiting list for places. Bread of Heron has now been running successfully since 2015. Bread of Heron now tskes place safely in th6 bam four lim&s a month, wth limlted awss to the hilt due to health and safety reslriclions. The Evants Programm¢ We create a twice yeaY programme, spring and summer, autumn and wnter. 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, rur81 life, engineering, lachnology, hydropower. We engage mainly with local artists and educators to run the events.'Nhilsl our monthly e-newsletter continues and is very popular, iffering detailed infom)ation to the publi¢, we are now programming for future evonls and activity. Achievements and Parformance A legacy fund has been awarded from The Expat Foundation for the work we do wfth proje¢ls for the elderly over 3 years. Page 5
Heron Corn Mill (Beetham) Limited ort of the Trustèès for the earended 31 Decembar2022 continued Financial Review For the year to 31st Dec 2022 the ¢h8rily recorded unrestricted in¢ome of £183k (prior year £146KI. Unroslricled expenditure amounted to £156k Iprior year £gOkl, leaving a surplus over expenditure of £27k Iprior year £56kl. Adding back depreciation improves the SLJrplus lo £59k compared to the comparable surplus of £87k in 2021. This reduction of £28k comes despite a record return from the turbine of £157k- some £50k higher than the income achieved last year. However, this higher turbine income was more than offs&l by the reduction in Covid-19 grants against unrestricted expenditure, which is why unrestricted expenditure is £66k higher than last year. The balance of £12k is the reduction in Covid-19 emergen¢y grants received last year from SLDC (grant CeiVed £16kl. Cash was an inflow of £1 k in the year Iprior year £11kl. a reduction of £10k compared to 2021, but this is after paying £71 k lo fully repay the loan to the Charity Bank. ReseNes Policy Unrestricted, free resèrves as al 31 December 2022 stood al £87,434, which is a slight fall from the 2021 figure of £92,245 by £4,811 but, in the year, the balance of the loan of £70.518 was repaid. Having reached, and now maintained (for two years at leasll, the policy of having cash reserves to cover a minimum of three months essential operating costs, the next slep is lo build up the reserve figure to help pay for a direct connection lo the grid in case anything should happen to the paper mill across the river. Page 6
Heron Corn Mill (Beetham) Limited Re ort of thè Trustees for tha ear ended 31 December2022 continued Reference and administrative details Company number.. 06784856 Ch8rily number= 1131677 Trustèes: Roger Bingham Robert Dickinson Robert Parkinson Sharon Peill Tristan Donalo (resigned 24 Mar¢h 20231 Treasurer.. Carol Elbourne Secrelarylmanager.. Audrey Sleeley Registered Office.. Mill Lane Beelham Milnlhorpe Curnbria LA7 7PQ Bankers: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West M811ing Kent ME19 4JQ Aldemiore Bank PLC Apex Plaza Forbury Road Reading RG1 IAX Redwood Bank Limited The Nexus .'4uilding Broadway Letchworth Garden City Hertfordshire SG6 3TA Independent Examiner.. Colin Johnson FCCA MHA Moore and Smalley Kendal House Murley Moss Business Village Oxenholme Road Kendal LA9 7RL Page 7
Heron Corn Mill (Beetham) Limited Re ort of thè Trustees for the ear Ènded 31 Decembèr2022 continued Structure, Governance and Management Constitution Heron Corn Mill {Beelhaml Limited is a company limited by guarantee and a registered charity governed by its Memorandum & Articles of Association. It was incorporated on 7 January 2009. Its objectives were amended by a resolution datod 23 December 2011. Organlsation The charity is organised and run by the Trustees. There must always be at least one senior manager of Pella Medical Papers Limited (pVIOuSlY known as BillerudKorsnas 8eelham Limited) acting as a Trustee. In the year ended 31 December 2022 this Trustee was Sharon Peill. Day to day administration is the rasponsibilily of the Charity Manager who reports lo the Trustees. Sèlection and inductlon of new Trustees In selecting individuals for appointment as Trustees, the Trustees lake into consideration the skills, knowledge and experience needed for the effe¢tive administration and future progression of the Charity. The Trustees make available lo each new Trustee. a copy of the goveming document and any amendments thereto, and a copy of the Charlly's latest report and slalemenl of accounts. Rlsk Management The Trustees have identified the major risks to which the charity is exposed. Those risks have been reviewed and systems established to mitigate them. In keeping undèr review the Trust's aclivilies, Trustees are mindful of the Potential for any changes to the present range of risks and will adjust systems when and where required. Page 8
Heron Corn Mill (Beetham) Limited Re ort of the Trustèès for the ear ended 31 Decèmbèr 2022 continued Staternent of Trustees, res onsibilities Accounting and reporting responslbilities The trustees (who are also directors of Heron Corn Mill IBeelhaml Limited for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Aepted Accounting Praclicel. Company law requires the trusta6s to prepare financial slatem8nls for each financial year. whSch give a true and fair view of the slate of affairs of the charitsble company and of the incoming resources and application of resourcas, in¢luding the income and expenditure, of the charitable cornpany for the year. In preparing these financial slatemenls, the Irustetss are required to.. select suitable ac¢ounting policies and then apply them consistently.. observe the methods and principles in the Charilitrs SORP 2019 IFRS 102)., make judgements and estimates that are reasonable and prudènt., slate whether applicable Accounting Standards have been followed, subject to any material departures disclosed and expl8inttd in the financial stalemenls., Prepa the financial statements on the going concem basis unless il 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 lo ensure that the financial slalemenls ¢omply wilh the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and dele¢tlon of fraud and other irregularili8s. Approved by tha Twstees on and signed on their behalf by c, ¢• R K Bingham {Chairmanl or Trustee Page 9
Heron Corn Mill (Beetham) Limited Inde endent Examiner's Re ort to the Members of Heron Corn Mill Beetham Limltèd I report to th& Charity Iruslees on my examination of the accounts of the company for the year ended 31 De¢8mber 2022 which are sel out on pages 11 10 24. Responsibilities and basis of report As the charity Iruslees of the company land also its directors foT the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Aol 20061'lhe 2006 Act'l. Having sallsfled mys8lf that the a¢counts of the corNpany are not required to be audited und&r Part 16 of the 2006 Aol and are eligible for independent examination. I report in respect of my examination of your company's accounts as carried out under seotion 145 of the Charities Act 2011 I'lha 2011 Ad'l. In carrying out my examination I have followed the Directions given by the Charity Commission under séction 14515llbl of the 2011 Act. Independent examlnerfs statèment Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualifi'ed lo undertake the examination because l am a member of Association of Chartered Certified Accounlanls which Is one of the listed bodies. I havo comp18ted my examination. I confirm that no mallers have come to my attention in connècllon with the examination giving m8 cause lo believe that in any material respect.. accounting records were not kept in respect of the COTnP8ny as required by section 386 of the 2006 Act., or the accounts do not aOrd with those records,. or the accounts do not comply with the a¢¢ounting requirements of section 398 of the 2006 Act other than any requirement th81 the accounts give a 'lrue and fair view, which is not a matter considered as part of independent examination., or 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 18pplicable lo charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland {FRS 10211. I have no concems and have come across no olhor mallers 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 Colin Johnson FCCA For and on behalf of MHA Moore and Smalley Chartered Accountsnts Kendal House Murley Moss Business Village Kendal Cumbria LA9 7RL Dale . 1410612023 Page 10
Heron Corn Mill (Beetham) Limited SLit•ment of FlnBndÈl A&vlilos {Including Ihth)m• and ExpendItre Aeeount} far th? yèar •nd•d 31 DecambDf 2022 R09trlcted Fund {Prolèctsl 2022 Total Funds TXal Fund Furtds 1¢Sener411 2022 2022 2021 Notg INCOME AND ENDoWmYs FROM: {Flol8 41 DonaCIoD5 and L8gaclgs Charttable AGt111." Racal e,563 4,667 6.$63 80.217 5.585 8B.180 75.550 otherTTpdlng Aet118'. Admisslons etG HEritB98 Lotlèry Fund sales Turn& InGome 5,147 5.331 9.4BD 6.808 157.246 3.853 73.177 1.863 107.174 9.480 8,808 1S7.248 InNestm&nt Inttam Other InGOrne 1,334 1.334 1.146 160 1.770 TOTAL 182.741 268.127 2BI.S87 EXPENDITURE ON- Rtylslro Funds.. Coyt ol Goods Sold 2,469 1.549 106 3.009 3Q2 78 20.998 106 259 22.227 Olher Costs Wo9eS 235 21,702 io 525 24,406 26.610 24.387 Chadiable ActlMlIg". ArtlstslProfe¥sitshal Péés Exhibition cttsls TrHwl & SubslstenGe VLlunteer Expon¥¢¥ We9P& 2.498 3Q.654 33.152 25.012 378 1.651 2.179 59.495 8.762 59.915 13.197 47.867 420 84.332 103.640 87.se6 Prep8rty'. eÉt & Ll9hl 1.98a 7.$88 192 1,048 R£te5 Rtspalrs.alnIenancQ aèthno 1.291 3.381 1.291 6,642 3,261 14,171 Other Admlni$tration.' Audlt & AGGountaney Fé48S BaDk Ghes CalBrtnglRefroshrnentg Depreciation EquipmÈrtt Purchases 3.065 81 2.760 97 240 81 773 31.810 377 5,g26 1.762 4,245 027 31.810 31.834 3.259 7.1g8 650 2.979 HardwarqlSoftw" Leg?1 FEÈS Pttst. Packlng, TelgphDna Statlonery, Conpumablès. CopySng Sub¥¢riPtions srtary Tralnlng We9eS 504 2.266 4.518 942 273 15 845 462 939 827 627 887 500 627 8.022 392 627 105 7.017 7,652 $8.7Y2 63,420 63.166 Othar. LO Int8r8st Other 1.455 7.31 1.459 1.459 7.313 TOTAL 1771 205.242 199.196 NET INCOMEI{EXPEPJDITLIREI BÉFORE TRANSFERS 26.970 35.$15 62.885 82,191 TtPn5tars Admln Charges MOVEMEFif IN FLINDS 28.970 3S.915 82.191 Funds BalanGe5 blf FUNDS BALANCES elf 1 311.057 1.33b.027 1 418.924 1.479.809 1 334 733 1.416.>24 141.782 Page11
Heron Corn Mill (Beetham) Limited Balance Sheet 88 at 31 Decernber 2022 Note 2022 2021 Flxed Assets Tangible Assets Heritagè Assèt$ 12 13 378,563 872.030 410.373 872,030 1250,593 1.282,403 Current At$ Debtors & Prepayments Cash 8t Bank Ènd in H8nd 14 74,714 186,784 48.450 185,587 261.498 234,037 Credltors Amounts falling du8 wthin onÈ year 15 32,282 35,923 Net Currènt A8sets 229,216 198,114 Totsl Asg8ts18s5 current liabilities 1,479,809 1,480,517 Long T8rm Llabllltles Charfly Bank Loan 16 63,593 Net Assets 17 1479,809 1,416,924 F¥nds Unrestricted..Cen8ral ReslrictÉd..ProjeGts 1,338,027 141,782 1.311,7 105.867 1479,809 1,416,924 For the year 31 Decemb8r 2022 th8 carnpany was entitled to 8xemptlon from audit urKler section 471 of th& Companies Act 2006 relating lo sm811 compani&s. The m8mbÈts ha not required th8 company to obtain an audit in accordanc8 wth s8Ction 476 of the Compani88 Act 2(W)6. The directors acknow18dge their re5POn5ibilily for complying with the requirerllent5 of the Act th resp8ct to accounting reG(Kds and fijr the y8paralion of accounts. These accounts hale been prepared in accordanGe Yith the pr0I4sions ap1¢£ble to companies subject to the sm811 compani&s regime. ApprOd by t Trusteas on . and signed on their b8half by TTu5teelDirector RK Bingharn as TNste8 & Chalrfflan Company Registration Numb8r.' 06784856 Page 12
Heron Corn Mill (Beetham) Limited Cash Flow Statement as at 31 De¢¢mber 2022 Note 2022 2021 Cash génerated in Operatlng Actlvltles 20 71,715 94,884 Cash Flows from Inkpsling Actibities.. Proceeds from the sale of plant and aquipment Pur¢hases of plant and equipment Cash provlded by (used inl Inv&stlng Activitles 133 42,946 42,813 Cash Flows from Financing Aclimties.. Repayment of borrowng 16 {70,5181 141,2141 Cash used In Flnancing A¢fjvltl&s 0,518 41.214 Increase Ide¢reasel in cash in the year Cash at the beginning of the year 1,197 185,587 10,857 174.730 Total Cash at thè end of the yèar 186,784 185,587 Page 13
Heron Corn Mill (Beetham) Limited Note$ to the Flnancial Statem2nts for the year ended 31 December 2022 1. Accounting Pollcle$ 1.1 Company Information Heron Corn Mill IBeethaml Limited 15 a company linvted by guarantee incorrK)rated in England and Wal8s. The registered office is M'll Lane , Beetham, Milnthorp8, Currbria, LA7 7PQ 1.1.a Basis of preparation Th8 financial statements b8en prepared in accordance wth Accounts'ng and Reporting by Chariti8S'. stateNt of RecorrThended Practice applicable to charities preparing their accounts in 8ccordan¢e th the Fin8nci81 Reportyng Standard applicab in Ihe UK and Republic of Ireland IFRS1021 leffects. 1 January 20151-IChariti8s SINIP IFRS10211, arKI the Companies A¢1 2006. Heron Corn Mill IBeethaml Limlted rrEets th8 definition of a publlc entity under FRS 102. Assets and 'abiliti8s are initially recogni5ed 8t historical cost or transaction value unS otheNise stated in Ihe rekvanl accounting policy ttotalsl. Th8 financial slatements are prepared in stsrfing, vhi¢h is the functional currency of the cowny. Monetary amunts in these financial Stalen1$ are rounded lo the nearest £. 1.2 Fund accountlng Gener81 funds are unrestricted funds 1¢h are avaikble for us8 at the discretion of the Truste85 in furtherance of the g8n8ral objeclibes of the charity. Restricted funds are funds which 8r8 to be used in a¢[dance wryth spe¢ifi¢ restrictions irrposed by donors or ]ch hake b88n raised by the charity for particular purposes. The cost of raisi and adrrinistering such funds are charged against the swif1¢ furKI. 1.3 Golng Goncern At the tiTne of approiing the financial staternents. Ihe directors ha ¢oTrsidered Ihe p8riod of 12 wmlhs f01kmng and have re£SOnab eypectations Ihat the Charity has adequate r8sources to ¢onts"nue in operational ekistence for the forseeabb ILrture. Tris is backed up by 8 2 year forecast Coring the years 2023 and 2024. This, together wth the fact that the Charity has rositike unrestricl8d reser after repaying all of its loan, gikEs Ihe Directors confid8n¢e in ¢onlinuing to adopt the going concern basis of accounting in preparing these financial statements. Page 14
Heron Corn Mill (Beetham) Limited Notes to the Flnancial Statempnt5 l¢ontintJedl for the year ended 31 December 2022 1.4 Incoming re$ource$ Al incoming resources are Included in th8 StsterrEnt of Financial AC1"eS then the charity is kgally entit to the ine0rn8, It is probab it vill be r8c81d and the amunt can be rneasured reliabty. Th8 follovAng specific policies ar8 applied to parbcuL9r cat8gorles of income.. lal Vduntary incon is recei by way of grants lthether c2Pital or renuel, donations and gifts and is illeludl in ful in th8 Statement ol Financial Actiiities. Grants. there enlitlennt is not eondiliona1 on the dlry of a specific performance by the ¢harity. are recoon1s then it is probable the in¢onE 41 be receid. Ibl Donated professional s6nAces and donat8d faC]lIeS are recogni as inCoff then th8 charity has control rner the it8m, any conditions 8ssociated wilh the donat8d itern ha been met, thè receipt of economi¢ ben8fit from Ihe use by the charity of Ihe item is probab18 and that econorric benefit can be rr*asured r81iably. In aocordan¢e th Ihe Charities SCRP IFRS 1021, the general wlunt8er tirrE of the lUnteerS is not recognised. (h rec8ipI. donated professional seriices 8nd donated faciliti8s are reCognis on the basis of the value ol the gift to Ihe charity thi¢h is Ihe Ihe charity Uld have been wlling lo pay to obtain seDAces or fa¢ilits8s of equiwant economic benefit the open marke(" 2 Corresponding anK)unt is then recognis8d in eypendiiure in thg pariod of receipt. {cl InvestrrEnt income is Incd&d then receibIe. Idl If incom8 is recei1 Iwl the relat8d performance does not tske place untsl a furlh8r accounlng wriod the income 11 be deferr8d until ihe crltwia for incoTrE recognition are rn8t. 1.5 Resources expended Eypenditure is recognised once there is a18gal or conslructike obligation b make a paymgnt to a third party, it is wobabb th8t SettTrEnt wll be required and the 2nI of th8 obligats.on can be measur8d relialAy. E>pendityr8 is CLq55irits under the folowng actimty headings.. Costs of raising funds compri58 the costs of ¢ormwrcial trading Including costs of goods, rnarketing and staff Costs. Ewenditure on Charitab actiMlies includes lh8 costs of performances. exhibikn'ons and other 8duGational a¢tiuties undertaken to further the purposes of the charity and their associated support costs and ¢osts associated Ihe turbine. (Jher eypenditure repr88ents those items notf2lling into any other heading. lrr8corab1e VAT is charged as a cost against the actiiity for Ml)ich the exFdI1Ure was In¢urred. Where costs cannot b8 direcly aitributed to parbcu18r headings they ha b88n althated on a basis congslent wilh use of the resources. 1.6 Investment incom8 InvestnEnt Income represents interest earned on Ihe innt ol temporary 8urplu5 funds pLqced on deFK)Sit and is included in the accounts then recovabl8. Page 15
Heron Corn Mill (Beetham) Limited Notes to the Financlal Statements Icontinuedl for the year ended 31 December 2022 1.7 Tanglble fixed assets and depreciation All fixed assets are originalty record at cost. Depreciation is ¢akulated so as to wite off the cost of an asset, less its estimated residual value, 0r Ihe useful econorric life of th8t asset as folbvts.. Barn and Other equiprn8nt Computer equipmnt dro rbIne 10°A- 20¥0 straight line 33% Straight line 40h straight line 1.8 Heritage Assets The IrnprokEments to Heron Corn Mill. Beetham are slated at C051. Significant funds ha been ewended In restoring and maintainirYJ Heron Corn and in iiewof this Ihe Trustees do not belie any pro1s1On for depreciaty'on or iwirrnenl is required. 1.9 Operating leases Rent8ls appli¢able lo operalng leases are charg8d to the statent of Financial Acbmties o¥Er the period of the knse a slraigm line b8SiS. 1.10 Debtors and credltors receivablel payable within one year D8btors and ¢redilors wth no stated interest rate and receivab or payable wlthin one year are record al transaction pric8. Any bsses arising from irnpairment are r8¢ryJnised in e¥endiiure. 1.11 Cash at bank and in hand Cash at bank and cash in hand include5 cash and short term highly liquid inS1ftnts Mryth a short rnalurity of three mnlhs or less from the dat8 of acquisition or opening of the d8POSIt or sinular account. 1.12 Flnanclal Instruments The charity only has financial asset- 8nd financial liabilities of a knrKI that qualify as basic financial Instrutrnts. Basic financial instruments are inillally recognised at tr8nsaction value and subsequently me8sured al their settlernent lue ¥th the 8xception ol bank loans [ch ar8 subsequenlly measured at atrK>rtised cost using the effecb'¥e interest method. Page 16
Heron Corn Mill (Beetham) Limited Note5 to the FFn8ncial Statements Icontinuedl for the year ended 31 December 2022 2. Donations and Legacles 2022 2021 Donations from M5itors Dollation from BK Be8lham Ltd 3,563 5,000 5.000 6,563 All donations in 2022 are unrestri¢led incorne, as re all Ihe donations in 2021. 5.585 3. Grants ReCead (>8nts tre received frorn Ihè fdbvAng bodies., 2022 2021 Eypat Foundation cutna Comnwnity Foundation SLDC LCVS Th8 Radcliffe Trust The Cotton Industry War MenKJfi81 John GIln Trust Sharp5 Fund WG EdrdS Henry Herd Trust Harold & Aice Bridges Bryan LaaSter Power To Charv¥ Garfi8kS Weston The Van Naste Foundation D'fyly Carte Charit3b18 Trust RHU Foundation Schr(er Charity Trust Th8 Areti charitab TrLE5t Francis WinhaTn Fort Foundabon ELgpeth J Thompson Sablna Sutherfand Charitaue Trust P8rsirrmons kbm8S Amold Clark Community Fund The GF charitab Trust Croppers Blak8rfK)Te 56,000 9,200 2,667 2.000 2,000 2,000 2.000 1,500 1.500 500 5,000 16,335 2,000 1,125 1.000 350 27,440 10,000 5,IK)O 3,000 3,000 3.000 2,400 2,000 2,000 1,200 1,000 500 100 60 88,160 80.217 Thé irbcorrE from grants reCeId totall8d £80,217 in 202212021-. £88,16010l thi¢h £75,550 was restri¢Èd 12021.. £61,825) and £4,667 was unrestr¢ted12021.. 6,3351. Page 17
Heron Corn Mill (Beetham) Limited %aÈ* IÉ£ £ i li I g !! } Ili'ii, Page 18
Heron Corn Mill (Beetham) Limited a£a*£ 9 & 9 ¥ Page 19
Heron Corn Mill (Beetham) Limited Notes to the Flnan¢lal Statement5 Icontinuedl for the year ended 31 December 2022 2022 2021 5. Heritage Lottery Fund National Lottery Awards For All Culture Recolery Fund 122202018[K> Years of Milling) 9,480 70,552 2.625 9,480 73,177 6. Investment Income 2022 2021 Interest Receivdble 1.334 7. Net incomell8XP8nditurel for the year 2022 2021 rhls is &ated after charging.. Depreciation Indépendent Examination 31,810 2,980 31.834 2,760 8. Expendlture on Gharttable activities Expenditu on ¢harilable aGtikiles in 2022 was £113,75312021'. £104,328) of which £42,569 vas restricled 12021.. £78.5801 and £71,184 wa5 unreslricted12021.. £25,748). 9. Trustees Robert Dickinson, a trustee, who li5 closest to the Mill, gets P8id for keeping the turbine uoing outside of norfflal office hours. He quite regulady cleans the turbin8 in the eady hours of the mOTningl He inwices th8 Corn Mill for this seNce whith In 2022 amounted to £Nil12021 £3.0001. In 2023 it has been 8gre8d lo only pay tra1 exp8ns8s. None ol the other Trustees reCeId any remuneration during the year, nor were any of the Trustees reimbutsed for any exp8nses12021- None). 10. Wages There were 3 8mployees under contract by the charity during th8 y8ar12021 - 21. No employe8 was paid more than £60.(KIO In the year. 2022 2021 Breakdown of costs.. Gross Wages paid NIC ttblIonS Pension conlribLEtlons 83,667 3,554 2,943 90,164 71,343 3,408 1.766 76,517 Page 20
Heron Corn Mill (Beetham) Limited Notes to the Financsal Statements Icontinuedl for the year ended 31 December 2022 11. Related Party Transactions The lollowng Trustees are also rronagers of P81ta M8dical Papers Ltd IfornErFy kno as BIlrUdKorsn8S Beetham Limited).. Sharon Peill & Robert Dickinson (manager until 8 April 20221 Pelta M8dical Papers Limited ows th8 Site of Pkron Com M'l IB88thaml LIr[ted and does nol charge any rent to charity. The lease dated 23 May 1974 b&ing for 99 years and a p8ppeTcorn rent payable. In the year Fkron Corn 111 (Beethaml Limit8d In)iced Pets Ibledi¢al P8P8rs Llrnited £TT,7n in iespect of ele¢tricity g8neratecS by Ihe Turbine12021.. £40,583). In¢ludgd in Olher debkns at the year end is £30,653 due from Pdta M8dic81 Paper5 Lir112021.. £12,278). 12. Tanglble Fixed *ssets Hydro Turbine other Computer Equlpment Equiprnent Total Cost At 1 January 2022 Additions in year Disposals and TIte-offS al Cost At 31 Decewber 2022 643.362 60,856 6,569 710,787 643,362 60,856 6,569 710,787 Auumulated Deprectation At 1 January 2022 Charged for Ihe year Disposals and wits-offs At 31 Decewnber 2022 247,312 26.793 46.533 5,017 6.569 300,414 31,810 274 105 51,550 6,569 332,224 Net Book Value At 31 DeceIntT 2022 369,257 9,306 378,563 At 31 Decemtrer 2021 396,050 14,323 410,373 Page 21
Heron Corn Mill (Beetham) Limited Note$ to the Flnanclal Statements Icontinu8dl for the year ended 31 December 2022 13. H8ritage Assets Leasehold Property ImprovenIS Cost At 1 January and 31 D8e8mb8r 2022 872,030 Net Book Value At 31 Decerrber 2022 872,020 On 13 June 2013 a Legal Charge obEr the leasehold property knovm as Heron Corn Mill Wds signed in faur of the Trustees of the Fkritage Lottery Fund a5 part of Ihe conditions that had to be met before the grant of £939.100 COU commn¢e to be spenL The grant ha5 the tile of'WalerpoM8r Connection" 14. Debtors and Prepayments falllng due withln one year 2022 2021 PrepaymBnts (Xher D8btors 42,863 31,851 74,714 36,086 12,364 48,450 15. Creditors-. amunts falllng due wlthln one yèar 2022 2021 Rewnue & Custorr6- PAYE & NIC + VAT Charity Bank loan Other Credltors-Pen5ion Trade creditors 6,303 4,388 6,925 147 21,512 2.951 35,923 20,888 4,607 32,282 AccruaLs and deferred income Page 22
Heron Corn Mill (Beetham) Limited Notes to the Financial Ststements Icontinuedl for the year ended 31 December 2022 16. Cr8dltors falling du8 after one year 2022 2021 Charity Bank Loan 83,593 Analysis of loan5 Wholly repayable within years By Instalments Not wholly repayabl8 Wlthin y8ars By instalments 70,518 70,518 Included in current liabilities 6.925 63,593 The Trust had a twanty year loan agreement 1th the Charity Bank expiring No*mber 2029. The loan was made in 2 tranches and 1 tranche was repaid in llecember 2021, 8nd the other tran¢he was paid in March 2022. 17. Summary of Net Assets by fund Rèstrlcted Unrestrlcted Fund$ Funds Total INote 41 Fund balances at 31 Oecernber 2022 are represented by.. Heritage Assets Tangible Fixed A$$ets Net Current AssetsllLiabiif(i881 672,030 378.563 87,434 1,338,027 872,030 378,563 229,218 1.479,809 141,782 141,782 Long Tem) Liabilities 141,782 1,338.027 1.479,809 Page 23
Heron Corn Mill (Beetham) Limited Notes to the Flnanclal Ststements Icontlnuedl for the year ended 31 Decewnber 2022 17. SummaryofNetAwtsbyfund l¢ontlnuedl Restrlcted Unrestrlcted Funds Funds Total INote 41 Fund balances at 31 DeCemr 2021 ar8 repras8nt8d by.. Heritage Assets Tangibl8 Fixed Assets N8t Curr8nt AssetsllLiabilitiesl 872,030 410,373 92,247 1,374,650 872.030 410,373 198,114 1,480,517 105.867 105,867 Long Term Liabilitie5 163,5931 163.5931 105,867 1,311,057 1,416,924 18. Taxation As a charity, Heron Com Mill IBeethaml Limited Is exempt from tax on In¢orne and gains falling wthin 58Ctions 472- 474 of the Corporation Tax Act 2010, s8Ctions 478- 489 of th6 Corporation Tax Act 2010, or se¢lion 258 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to Its charitable objects. No tax charges ha arisen in the Charity. f9. Control There is no single controlling party of the charity for th8 current or premous y8ar. 20. Reconciliation of n8t movement in funds to net cash flow from operating activities 2022 2021 Net m0m8nt in funds Add ba¢k depre¢ialion U8crease lincre88el in debtors In¢aSe Ide¢reasel in ¢dItorS Loss Iprofitl on disposals 62.885 31,810 126,2641 3,284 82,191 31,834 112,8511 15.1571 11331 Net cash generated in operating activities 71,715 94,884 Page 24