RElyST￿cOmPANY1￿￿BEIt on10264 IE*Thl and Wale5) REGisfEREDOIARrrY NUM8ER: 1139207 HECXINGfoN WINt)MIiL TRiST Duncan &Topts Ltmtted 18 Nfftte Sleaford Uncolnshlre NG34 7PJ HECKINGTON WINDMILL TRUST CO￿E￿[r5 OF THE RNANaAL sfATEMEpirs FOR THE YEAR ENDED 31 MARCH 2021 Report oftheTru5tees I to 3 6 to 7 8 to 15 16 to 17 HKKIN6foN WIt40MUTRLST REPORTOFTHETRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 Thè trustees who are akn dlre¢tors of the d￿rity for the purrxw of the cornpan￿ Act 21x6. kwnt their report th the financrdl statements of the tharity for the year ended 31 Marth 202L The trustees have adopted the PToMsions of Accounting and Reportirvg by (harftles: Statement of RecommeThJeil Prattt￿ applicable to charities prÈpaTing their accotlnts in acCOrdar￿ ￿ the Finanoal ReportitE Standard art)licab￿ in the UK 3nd Republic of Ireland IFRS 1021 lefferti￿ lJanu3ry 20191. OBJEcnvES ANDACrnlmES Obierths and aims l. To preserve. resto￿ and maintaln HÈckiWI Wmdm151 kn the t*nefit as a buiklir¥ of archlteciural and hlstorical importan￿. 2. To aoknnce the edutation Of￿ public in ts htstory and operation ofthe v[H￿rni11. Public benefft The trustees confirm that they are aware of the guVJan￿ cortained in CharÈty Commission's gefterdl guldance on public benefrt and consider that the owat1￿ ￿e￿0Pment of the mill pmwdes significant edU￿tiOnal and conservation benefits to the publiG ACHIEVEMENT AND PERFORMANCE The Trust has been successful in tts prin(apal obJeuive5 of and pr(XnOtirE He(*iW Wrndmrll. partttularty havin8 regard to the e￿ptional arcUmStan￿ ol the co￿￿ Pandemi We o￿ned the wiThYmill to the public on all the adverbsed days when it was safe and legal to do $0. We akn tLx)k addftional steps to maintsin a suppfy of both white and wholemeal flour during a time rf national shortage. The Ios5 of income was a potential threat to the stabli lty of the organlsabon. H¢)wever. the Trust was able to secvre external grant akl from a number of Sour￿ whidj not onty COve￿d SI￿rtraI1$ in income a￿1 addÉlional costs resulting from the pande￿G but atso enabled reser¥e5 to ￿ bL4lt up to ¢1)han￿ the lon8-temi financial staknlity of the organisation. Principal fundln8 50U The principal fvnding sources for the tharity are by way of woftts made on sale& entran￿ fee5. donatKJrL% and rental income from the ￿￿ry. sh is held in interest earnir* deposrrs at banks and other Furbds not requtred to be Imn7ediate accessed are held in hfgher interest rate de￿Sit$ at varying wtods of notice relati￿ to the likety times¢a* on whith would need to be accessed. Thi5 policy is rewewed annualty. At 31st Ma¥ch 2021 the charity had £74A)53 1202tr. £5LE￿I In reserves. £70.41421))2(tr. £42A421 is unrestricted and £3,61112020.. £9.1641 were r￿tricted. The rèseNes poliry is to the annual Surplus an operational and Renewal Reserve. The tsrEet is to acc¥￿ a Renewals Reserve of ￿0.co) by 2025. and an Operatml Rtserye of 6 months normal OP*F3tiona cort5, a tsrget of £50,(KK). The reserves kxilky is rewtewed annual￿. HEc￿NGToN WINDMILL TRi FOR THE YEAR ENDED31 MARCH 2021 FiFnJRE PiANS We wll plan po￿tIVet¥ for recovery from the Co¥id 19 ￿1 pandemic arKI to ensure the windmill and the Trust's operations have a SLLstslnable long-term fJJture. To cortbnue to open the ￿ndM￿l and promote it to the wde5t Jssible audience. This Indudes promotion to visitor5 to the area as well as development of an educational prcerdmme. Development of management SySteni% fouJ5ed on the operation and oFen1￿ of the site. To work alOn￿l￿e Lincolnshire County Council to complete the windmill's current repair prc8ramrne and ￿turn Ft to operation at the earliest P055ible opportunty. Develop a h*hqua￿ty trdining prtyamme fLY nullers aThJ coopwate wkth other b￿lieS to evolve a nationalty recognised Stsndard. GtrMnln8do¢UM￿t The charity is controlled by its governin8 docum￿ a deed of trust a limited company, Ilmtted by Buaranteè. as defined Companies Act 2CQ6. The charfty is controlted by rts Bovernirg dcoJm*)t a deed of tru5¢ and CO￿titUteS a Ihnlted company, limited by guarantee. as defined bythè Cornpanies Act X(6. Theg0Vemi￿ dcumentofthecharrty is tts MemoraThJum ar￿Ats Of￿￿￿13t1￿￿ The thadty ts Managed byts￿ trustees who meet on a rwlar basis&nd we n*de3tthese The total amount ofemployee tenefits reCeI￿d mawement personnel is £Nil12020 £Nill. The trustees have a dLrty to i(knfjfy and rknv the risk5 to which the charrty is exp)sed and to ens(we appropriate controls are in pla￿ to provttle reasonab￿ assutsnce agaTrnstfraud and error. 07210264 IEIWand and W*sl Register￿ Charity number 1139207 18 Northgate Sleaford ncolnshire NG34 7BJ C A Pinthbeck Director J W ￿lleY Director Iresi8ned 110.201 M A Hardy Director P Reid Oirector (appointed ZiO.201 Keith PhillryJ5 FCA DurKan & Top1￿ Umited 18 Northgate Sleaford incolnshire NG34 78J HECKIN6foN w1NDM￿Tr REPORTOFTHE TRusfEES FOR THE YEAR ENDED 31 MARCH 2021 Approved by orderofthe t#)ard 0ftr￿ on............... . nd sgned on it5 behalf ￿.. .4£ CAPin beck. Trustee INDEPENDE1￿ EXAMINER'S REPORTTOTHE IRLSTE￿ OF HECKINGTON WINDMILL TRUST I rèport to the charitytrustees on my ex3minatic¥) of the aCcO￿ts of the Company forthe year eniled 31 Marth 202L As the charivs trustee5 of the Company land also tts direttor5 fLY the purposes of compary lawl you are re5ponslble ftsrthe preparation oftheaccounts in accordano with requrynents ofthe Q>mpanieskt 2C•J61'the 2￿6 Aa'l. Having satisfied myself that the accounts of the Compary are not required to be aLKlited under Part 16 o*the 2Q)6 Act and are eligible for Independent examination, I report in respect of my examination of your chaTtVs accounts as carried out under sectior¢ 145 of the char￿e5 Act 2011 I￿ 2011 ACVI. In Carr￿￿ out my examination I have followed the Diwlons￿en the (tharityCommr4ion ￿*r5e(ti￿ 145151 Ibl ofthÈ2011 ACL I have cOrn￿eted my examrnation. I confirni that no matter5 h￿e come to my attention in connecbon wilh the examination 8lVtng me cause to belw: accountong record5 ￿re not kept in resF*rt of the Company a5 required 386 of the 2C116Act; or the accounts do not accord wtth those recor(Is: or the accounts do not compty wth the accountire requirtynents of s&tion 396 of the 2(￿ Art other than anv requirement that the accounts gve a Jlue fair whith is not a matter t£¥nsidered as part of an Independentexamination- or thè accounts have not been prePa￿d in ac£ordar￿ vAth the methods and prinripjes of the StstÈn￿nt of Recommended Practi￿ for ac£ounDre and reFKJfbrg by d)artbes (applicable to chartties preparing thetrr atCOUnts in aiEordarKe wÈth the ￿nanual Reportirg Standard applKable in the UK and ReptJbli¢ of Ireland IFRS 10211. I have no concerns and have come across no other matters in cont)ection wrth the examination to which attention should be dtswn in thts report in orderto enable a Kryer undertandir8of the accounts to bè reathed. Keith Phillrps FCA Dijncan &Toplis ￿mIted 18 NorthEate Sleaford incoln5hire NG34 7BJ Date". Page4 HECKINGTON WINDMILL Trusf STATEMENT OF RNANCIALAcrivtnES FOR ThE YEAR ENDED 31 MARCH 2021 2021 2020 Operational reseNes and Totrdl funds fund Totsl tund5 fvnd fithd5 Notes INCOME AND ENtXXVMEp¥fs FROM Donations and legaci 29AOi 43.4 13,124 Charit8ble attiwties 6?18 6318 17.506 OtherfundFaislng aatvrlie5 Investment income 21.949 8.750 21519 8,750 68,837 6.750 Total 29301 81107 I(￿.217 EXPENt¥TURE ON Raising f￿r￿S 21,237 2L237 53,377 lTharÈts￿e aciwttle5 Charitable actiwtjes 8￿33 292 37A23 42,485 29,270 293 95.862 NET INCOME 22.036 411 22.447 10355 13 15259) 11223 15364} Net mo¥ement in fvnds 16,n7 11.223 155531 22A47 10.355 RECONauATKJN OF FUNDS Total browfmrd 33%7 8.455 9.164 SLÉ 41.251 TOTAL FUNDS CARRIED 50.764 19.678 3.611 74.053 5L6C6 The ￿te$fOrnI partofthesefinarwl ststements HECKINGTON WFNLMLL TR￿(REG￿TERED NUM8EK' 07210￿) SHEEr 31 MARCH 2021 2021 2020 and Toial fvnds Total fvnds fvnd nd funds FIXEDASSET5 Tanglbleassets CuRREF￿A5$frS Stocks Debtors Cash at bank and in hand 6A15 6.174 392rii 6.815 6,174 62A93 9.886 4,236 41.736 19.678 3.611 51193 19.678 3.611 75.482 55,858 Amounts *alllng due wÈthin one year li 12.4291 12A29} 15,2521 NETCuRRETr￿ ASSErs 49.764 L9.678 3.611 73,053 50. UABIUTrES 50.764 19.678 3ffj11 74.053 5Lf NET ASSETS 50.764 19.678 3.611 74,053 51,FJJ6 FUND5 Llnrestrtrted funds Restrirted funds: Peter Lett donation fvn Publlcttyfund Shopfund FirstAid Tuxford Fund 70A42 42A42 2.011 2,011 2,153 3.611 9.164 TOTAL WNDS 74.053 5L606 The charttable compan¥ is Èntttted tt* e¥ernption frw ￿11[ under section 477 of the Companies Act 2[￿ for the year ended 31 March 2021. The member5 have not required the company to obtsin an audFt of tts fina￿￿81 ststements for the year endeil 31 March 2021 in accordance wtth Sertion 476 of the Companie%Art2L￿. The fomi partofthesellnarrial siatsr￿nts continued... HECKINGfoN WINDMILL TRisf IREGITrED NUMBEL. on102M) BALAKESHEEf. tontIn￿l 31 MARCH 2021 The trustees aCkno%￿edge thar reSpo￿lEY]￿tiesf0r {al ensuring that the charttsble company keeF6 accountÈr8 records that COM￿ wrth Sections 386 and 387 of the Companie5 Act 21x6 and preparing financial Statements whith w¥e a true and fair view of the stste of affairs of the charitable company as at the end of eath financral year ar¥1 of its 5uWus or defictt for eath finar￿￿41 year In xcordantr with the requirements of Secbons 394 and 395 and whlch otherwise compfy with the requtrements of the Companies Act 2(JJ6 reFatingto finanrial statements. so far as app4itat4eto the tharrtaFAe company. Ibl These financial stateme[￿ have been prepared In accordan￿ wtth the p￿[￿￿% appl￿ble to charitsble companies Subject to the small companles regime. The financial statements were approved and atrthorised for issue ty the Board of Tritstees and authorised for issue on •and 1%￿re sr8ned on its ￿haff ty. CA Pinchbe(k-Trustee Page 7 HECKFNGTON WINDMILL TrUST NOTESTO THE HNANCIALsfATEMEP￿s FOR THE YEAR ENDED 31 MARCH 2021 The financlal ststements of the tharttable tompany. which is a pubfic benefft entity under FF15 102. have been prepared in accordanco Mth thè Charttbes SORP (FI￿ 1021 'Accountin8 3nd RewrknrE by charit￿$. Statement of Recommended practi￿ applicable to charttie5 preparinE their accounts in accordano with the Finanrial Rewrbng Standard appI￿able in the UK and RepU￿1C of I￿land IFRS 1021 leffwtive l January 20191,, FFnancial Reporbng Standard 102 The Financial Reporbre Stand3rd applicable in the UK and Republic of Ireland, and the Companies Act 2((6. The financsal sktements have been prepared under hf5torital cost convention. All Incoming resources a￿ induded in the Ststement of Fjnantial Atti￿￿e5 ISOFAI when the thathy is legal entitted to the income after any perfOrn￿rI￿ condition5 have been meL the al￿tsnt can be measured rellably anil it i% probablethat the it)tome will be rtteived. For donations to be recoEnistiJ the charrty will have been nottfied of the aTh￿￿nts a￿1 the settlement date in wrr(ing. If there a￿ cofKlitions attached to the donation and this require5 a lÉvel of perf0mlan￿ before entr(lement can be obtsined then iwKome is deferred until those COnd￿.0nS are fulty met or the fijlfilment of those conditions is ￿￿kn the control of the d)arty and rt is probaiAe that tywll ￿ fuffilled. Donated faolitie5 and donated professional services are recognised in income at their fair value when their econoFnic benefit is probable. tt on be measured reliabty and the thartty has corltrol over the item. Fair value detemitned on the basL% of the value of the 8tft to the tharity. For example the amount the chartty would be willing to pay in the open market for such fatilities and servrce& A cotte-5pondTrrE 8￿nt ts recognlsed In expenditure. For lewacies. entidernent ￿ the earlter of the charity bel￿ notified of an impendi1￿ distributlon or the legacy being received. At this ￿1n￿ Iiicome i5 recwiiw. On occasion leBaae5 will be r￿tified to the thaniv however It is not Possible to measure the amunt expectal to distributed. On thtse octa5*)n¥ the Iwdcy is treated as a tontingentasset and di5dosed. Income includes income from fundrai￿￿ Lwents attd acmes to raise fund5 for the charity. Income is received in exchange for the 5uppty of 8¢x￿$ and in order to rdise funds and is recognised when entiuement ha5 occurred. Exwiditure Liabilities a￿ reC(￿l$ed as expenditure as soon as there is a tegal or Constr￿￿e obliÈation committire the dtarity to that expendtture. it is probable that a transfer of econcThic benefits will be required in settlement and the amount of the obligation on be measured reliaNy. ExFEndtture 15 acmunted for on an acuuals basis and has been dasstfied under headings that aweEate all cost rEl3ted to the category. Where costs tannot be directly attributed to particular headings they have been allrKated to actmttes on a basis consistent with the usè of resources. TangIble￿ed assets Depreciation 15 provided at the fo[low￿ annual rates in OFder to write off each asset ob*r its estimated useful lrfe. Stocks Stock% are valued at the Iw of c05t ar*J net realisabte Y￿Ue, after makir£ due allowan￿ for obsofete and slow m0>7ng items. T3xatTon The charity ￿ exemptfrom corporation tax on its tharttrble aCts￿des. Continued... HE(XINGTON WINDMILL TRU NOTES TO THE FlNANQAL￿ATEmETr1rs. FOR THE YEAR ENDED31 MARCH 2021 un￿tricted funds can be in acCOrdar￿ with thecharitabk Obi￿&￿ atthe discretion of the trustees. Resthcted fvnds can onty be tL£ed for particukr restrthd purposes wtthin the object5 of the charity. Restrictions arise when specrfled bythÈ donoror*then fvnds ère I?￿edfol partttylar restricted purp05e& Further explanation of the nature and purpose OF each is induded in the notes to the finanaal statements. De5i8nated funds are fvnds set aside ty tr￿tee5 Out of unrestricted fijnds for 5peufic firture purposes or projects. Rentals paid under Operati￿ leases are charged to the Statement of ￿nan(la1 Activrbes on a straiÈht Ilne basis overthe pericN OF FUNDS 30,639 8.287 2325 41.251 TofAL FUND5 CARRIED FORWARD 33387 8A55 9.164 51,6t6 TANGIBLE ￿XED￿￿T5 Lathe arKI milllng machine At l April 2020 and 31 March 2021 B￿K VALUE At 31 March 2021 At31 March 2020 The Wdlue of thÈ assets 15 not aNpected to dIm￿lSh beJ(Mf the inttial cost arKI thereft>re no provlsion for depre13ation has been made. STOCKS 2021 2020 Finished gwd5 6315 9,886 Pa8e li continued... HECKINGTON ￿NDMILL TR PK)TES ro THE RNANaAL ￿ATEmE1￿rs.u FOR THE YEAR ENDED 31 MARCH 2021 DEBTORS: AfvKIUNTS FAIUNG LXJE wrrHIN ONE YEAR 2021 2020 Detrtors Other debtors 1.163 5JJll 4,236 6.174 4236 ii. cREE￿)RS.AMouplrs FALUNG DUE WItHIN OP4EYEAR 2021 2020 Trade tyedttors Othercre(litors 3.395 36 1.821 2,429 5.252 Iz. LEASING AGREEMEpirs Minimum lease payrnents UndernC¥K3￿eH3b1e o[EraEl￿ fall due as fol￿. 2021 2020 Within one year Between one and fi¥e yeays In rnorethan fve years 750 750 66.750 67JX) 70SC 71.250 MOVEMENfiN FU14DS Net m￿ement in fvnds TransfeF5 between funds At 1.4.20 At 31.3.21 U￿trICted fvnts General fvr Operntk?nal re5eNes and renw15 fund 33￿7 8A55 U036 15.2591 11,223 50,764 19.678 42A42 036 5,964 70.442 Peter Lett d)nation fvnd Publicityftjnd Shop fund AIM Tearoom Cowkwltsnt Funds rstAid Tuxford Fund ioii 2.011 (s,(￿) 19521 1121 2.153 {1.2011 12 9.164 411 15364) 3,611 TOTAL FUNDS 51.E 74,053 Page HECKINGfoN WtNDMILL TRUST FOR THE Y&4R ENDED ai MARCH 2021 Net movement in funds. induded in the above areas follows: IncomiF Resources Movement expended In funds Unre5trirted fvnds General fund 513C 1292701 22,036 Shop fund AIM Tearoom Con5uhant FuNts First Ald Tuxford Fund He¥tt%e Lottery Funthj i.¢xsi 12.2021 IL4881 112011 12 25.7CKI 125.7(01 29.801 129MI 411 TOTAL FUNDS 81.107 (s8.6￿? 22.H7 Net Transfer5 betsveen funds At 31.3.20 At L4.Lg in funds General fund Operational reserves and rertewals fiJTh 8A26 14.2701 15.0781 33.987 8.455 38926 16401 42.442 Peter Lett donation fiJThl Retail fund Publirity fund Shop fund 2J25 13141 16401 2.011 2.IS3 1153 2325 9.164 TOTAL FUNDS 4L251 10,355 51.flJ6 ntlnueil... NEc￿NGrO14 WINDMILL Tri TOTHE FINANCIALsfATEMENTS.cathw FOR ThEYEAR ENDED 31 MARCH 2021 MOVEMENf IN FUND5.continwl Comparaiive net movement in funds irKluded in are a5 follows: Incomir resour Resourw Movement expended in fiJnd5 Unrestrided General fund Operational reserves and renewats 95.717 1872911 142701 8,426 14.2701 95.717 191.S611 4.156 Peter Lett donation fiEnd Retrdil fijnd Publicity fund 5hopfund 13141 111401 13141 16401 113471 1153 10s(K) 14,3011 TOTAL FUNDS 1(6.217 195,8621 10.355 Peter Lett donation furKI are d￿atIO￿ rEcei%td in ￿Lation toa proposed memorial to the late Peter LetL Operational resew a￿1 renewals fund is a dewated fvnd set by the trustees Tnto which 50% of the annual net income is to be transfe￿ed eath year. The publicity fvnd relates to a ￿ant rei* to wbfKtse tourist attraC￿or6 around li￿OIn$hire. Hecklngton Windmill Trust h05ted ￿ launth Theshop fund relatesto a 8rant re￿r￿ to maintsin and impro¥è the on site s￿. The Ffrst￿d fvnd was r￿1Ved to payforfirst a*J trarnir¥*orstaff andvoluntea5. The Tuxford fund ￿ to coverthecost ofa bookon theT￿ ety￿. The Herf13ge Lottery fund was received to supw)rt thÈ TrErt thro￿ COWtk19 enabkd the opening of the STtesafety and to make contlryn¢y ptansforthe ftrtur& Being those costs inojrred irythe Trust rKrt dlretttyt(￿tred bythe restritted fvnds Tecewed. Page 14 continued... HECKINGTON WINDMILL TRusr NOTESToThe ￿NANc￿LsTAYEMENTS.ayrtlIm FOR ThEYEAR ENDED 31 MAROI 2021 There were rKJ rel8ted partytran5acbons forthe yèarended 31 Marth 2021. Page IS HECWNGTON WINDMILiTRisr DEfALED 5fATEMENfoF FINANaALKrivmES FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 INCOME AND ENDOWMENTS Donattons and legaaes Donations Grants 1288 41,202 2,624 10sc*J 43,4 13,124 Otr*r fiJndrai5in8acb¥itE5 Shop irjcome Mill House tearooms income 11,498 10,451 19332 48905 68.837 Rents ￿teNed 8.750 6.750 Chartlable actl¥ytie5 Mlll entran Events income Svbscriwions Job retention scheme 162 14,582 2,038 992 3.764 6.918 17,5C6 Total Ino)mry¥ re50ur 81,107 106.217 EXPENDITLIRE RalslnB donaknsarKI lega(Je5 Publicity 729 3.861 Otherfvndraisin8 acii¥lbe5 Opening stock Shop Opening stockte3roort5 Purchases Shop Purthases tearoon ages "losing stockshop losing stocktearoom5 9,2L 678 4342 2347 678 11.523 17.145 21.0?6 19.2081 16781 16A501 13651 49.516 Events expenditure Tower rent Carried forward 20 750 770 750 This page dces rkxform partoftheststUWfinaThial ststemems Pa8e HECKINGTON WINDMILL TRLsr DETAILED STATEMEp¥foF FINANaALAcrnimES FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 8rought forward Rates and water Light and heat Telephone Postsge and ststronery Materials and maintenan Courses and trainin8 SPABIMuseum association Trdvel expe￿e5 Minoi equipment Tearoom catering review Computer cost5 Insurance Heritsge Iotteryfundir Miscellaneous eXp￿SeS 14,5461 4.392 661 495 7.104 1.239 6,543 541 62 61 7.106 14.001 824 6.162 L682 33.364 35A51 nan Bank char8es 353 758 Accountsncy fees Professional fees 3.053 653 3,716 2￿60 3.7[ 6.276 Total resou￿5 expended 95%62 22,447 10,355 This pagedoes notf0rn7 part ofthestatui(ryflnarKial Statements Page 17