Registered Company Number 07210264 RegisteTed Chanty Number1139207 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS He¢kiigtM Wndmill Tn*t For the Year 1st Aprl 2023 to 31st March 2024 Prepared ty ST Bookk•epfng servi￿ Limited Tower House Evedon Sleaford NG34 9PB Heckington Wlndmill Trust Contsnts of th• Financial stateme￿ For tho Y•ar Ending 31st March 2024 Pages1-2 Report of the Tr￿tee8 Page 3 Independefrt Examlnerfs Report Page 4 Statement of Financial Aclivibes Page 5 Balance Sheet Pages6- 15 Notes to the Flnan¢ial St8tements HeckllWt￿ Windmill Trust Report of the TNstoes for the Year Endin9 31st March 2024 The trustees vtho are also director5 of the charity for the purposes of the Companies Act 2006, present their report Ihe financial ststemerts of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to chaTtties preparing their accounts in accordance with the Financial Reportmw Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). Objectives arKI Aclivlties 1. To preserve, restore and maintswi Heckington Windmill for the public benefft as a builthg of architeoknal and historical importance. 2. To athnce the educalion of the pthlic in the history and operalion of the Windmill. Public benofit The trl￿teeS confirm that they are aware of the guidance contained ff) the Chaiity Commission's general guidance on publi benefft and consider that the ongong operation arkl development of the m￿1 provides signlficant educational and cowrvation beneffts to the public. Achievement and Perfom￿nce The Trust Continues to be successful in ts objeG*ve to open and operate the wil￿mIl for the benefrt of the public. The vindmll was opened on approximately 180 days thring the year, and the Mwii Millers programmed aimed at KS 2 children has been successful in its second full year. The National Lottery Heritage Funded Engagement & Development Project is ongoing, with the Engagement & Development Officei appointed at the beginning of 2023. The objective of Ihe project is to support and buikl the volunteer base of the Tntst, and widening the audience and activitses on sits . The Trust had another strong year generatmg a of £37.493, the total reseNes to £166.876. Voluntsers The operation and success of1he TnBt r8 underpinned by a very substantial contribution from ts volunteers. Of the 85 registered volunteers most conlribute more than 50 hours per year, and many substsnt•lly more. This equates to approximately £44.285 per annum. Fknan¢ial Rev Principal funding sources The principal funding sources for ts Charty are by vrdy of proffts made on sales in the shop and tea room, entrance fees, dOnatiOr￿ and rentsl income from the Brewery. Investment policy and objectives Cash Is held In Interest eamlng deposits at banks and other It￿1¥￿￿0￿5. not required to be immedlately a￿eSSed are held in higher interest rate deposits at varying periods of nolice relating to the iikety timescale ￿ vknich they Y￿uld need to be accessed. This policy is reNiewed amualty. Reserves policy At 31 st Marth 2024 the charity had £168,648 (2023: £131.155) ff) reserves. £166.676 (2023: £129,916) r6 unrestricted and £1,972 (2023: £1239) were restricted. The reserves poliw ss to trar6fer 500/0 of the anwal surplu% Into a Repalr & Renewab Fund. TNS Is retained to fund ongoing major repairs and renewals of eq¥irnent across the site. The target is to maintsin a cash reserve equal to 6 montrts of nomial operating costs. The reserves policy is reM¥ed anr￿lly. Page 1 Heckiw Wmdmill Tnist Report of tho Trustees continued for the Year Endiry 31st March 2024 Future Plans To continue to open the windrnill and promote it to the Wide￿ POSStAe audience. This Kicludes promoton to visttors to the area as well as development of an educational programme. To work alon￿de Lincolnshire County Council to complete the windmill's current repair programme. re￿rnIng it to operation at the earliest possibly opportunty. To Successfulty complete the NLHF Engagement and Development Project and to develop a robust plan for continualion at the end of the currerrt fundin9 cyde. Struthre overnance Governing document The charty r6 controlled by ts goveming dowment, a deed of trust. and Constr￿eS a Im5ted company, limited by guarantee, as defined by the Companies Act 2006. Ma The goveming documenl of Ihe charity is its Memorandum and ￿tiCleS of AssOC6alion. The charity is managed by the trustees who meet on a fegular basis and decisior￿ are made at these meetings Key management remuneration The tot81 arnount of employee benefits received by key management pe￿Onnel is £Nil {2023 £NI). Risk management The trustees have a duty to tdeniify and review the risks to the charity is exposed and lo ensure appropriate controls are in place to provide reasonable asswance against fraud and error. Trustees C A Pinchbeck M A Hardy J Lewin M Andrev+E M R Surtleet Resigned 10th June 2023 Resigned 10th 2023 Registered Office Heckington Windmill Hale Road Heckington Lincolnshire NG34 9JW ST Bookkeeping Services Limited Tower House Evedon Sleaford NG34 9PB Registered Charity Number 1139207 Registered Company Number 07210264 (England & Wales) Slgned :. C A Pinchbe¢k- 28th June, 2024 Page 2 Hecklngton Windmill Trust xlepw￿•nt Examinerfs ReS￿rt to the Trustees ent examiner's re rt to the trustees of Heck. mill TTh￿t I report to the charity trustees on my examination of the aCCo￿ts of Compary for the year ended 31 March 2024. Responsibililies and basis of re￿rt As the chartt¢s trustees of the Company (and also its directors for the purposes of compary law) you are responsible for the preparation of the accounts in accordance vitth the rewirements of the Companies Act 2006 {￿e 2006 A¢f). Having salisfied myself that the aCcO￿ts of the Company are r￿1 re(pired to be audited unts Part 16 of the 2006 Act and are ell￿'ble for independent examination, I report in respect of my examination of your charit￿8 accomts as carried out under section 145 of the Charities Act 2011 Cthe 2011 Act). In canying out my examlnatlon I have followed Ihe Dlrections ven by the Charity Commission under section 145(5) (b) of the 2011 Act. kKlependent examin•rfs statsmwrt I have completed my examinath'on. I cMfjnn that no matt￿5 have come to my attenlron wi connection with the examination giving me cause to believe: accounting records were r￿t kept in respect of the Company as required by section 386 of the 2006 Act: or the accounts do not accord Y￿th those records; or the ac¢ounts do r￿t compty valh the accounting rewirements of section 396 of the 2006 Act other than any requirement that the accounts gNe a true and fair view V*l)ith ss not a matter ¢on&dered as part of an Independent examnation. or the a¢¢ouTrts have not been prepared In acGordanGe wlh the methods and pm¢ipFe3 of the Statement of Recommended Practice for accounting and reporting by charities (applicable to chartties preparing their accounts in a¢cordan¢e the Financial Reporling Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no con¢ems and have come across no other matters in connection vhth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Timothy Tajlor (FMA4r) ST Bookkeeplng Servlces Umlled Tower House Evedon Sleaford NG34 9P8 28th June, 2024 Page 3 HKkiW ￿1ndmill Trust Statement of Flnancial Activillos For the Year Ending 31st March 2024 Repairs Unrestricted& Renewals Restricted Total Funds Funds Funds Funds 2024 Total Funds 2023 Notes Donations and legacies Charitable a¢bvibes Other trading actsvitses Investments Other- coMper￿tion I VAT Refund 17,205 16.090 115,125 11.559 418 160.397 35,365 (480) 52.570 15,610 115,125 11,559 418 195282 9,781 14,927 100,536 9,798 3,602 138,644 34.885 Less: EX￿nditUrn on: Rai&ng funds Charitable activibes Separate material expense item Other Total 65.610 52.699 34,569 3,003 100,179 57,610 58,740 55,522 1,908 118,309 1.908 37,572 157,789 114,262 Net income I {eX￿ndI￿re) bèfore tax for the reporling period Transfers between funds Net movement in fvnds 42,088 .16 19,921 1,908 18,747 16,839 2,687 3,420 733 37,493 24,382 13 37.493 24,382 Reconclllallon of funds." Total funds brou*rt forward Net movement in funds Totsl fund5 carried forward 84.395 19,921 104,316 45.521 16.839 62.360 1.239 733 1.972 131,155 37,493 168.648 106,773 83,122 131,155 Page 4 Heckingtm Windmill Trust Balance Sheel For the Year Ending 31st March 2024 Repairs Unrestrictsd& Renewals Restricted Total Fund$ FurKJs Funds Funds 2024 Total Fund$ 2023 Fixed Assets Notes Tangible Assets 1,oiXI 1.000 Current Assets Stocks Debtors Bank 9,900 23,159 87,248 9,636 10,115 118,884 23,159 151,580 62,360 1.972 120,307 62,360 1,972 184.639 138,635 Current Liabilities: arnounts falliThJ due within on• year 10 16.991 16,991 8,480 Net current amets /Olablllties) 103.316 62,360 1,972 167,648 130,155 Total a680ts 1088 ceffrent Ilabll 104,316 62,360 1.972 168.648 131.155 Creditors: amounts falling due after one year Provisions for liabilities Totalnet assets or liabllths 104,316 62,360 1,972 168,648 131,155 Funds ol the Charity Restricted in￿rne funds Unrestricted funds Total funds 13 1,972 1,972 166,676 168,648 1,239 129,916 131,155 104,316 104,316 62,360 62,360 1,972 The company Yrns entiued to exemption from audit under s477 of the Companies Act 2006 relaling to small companies. The members have not required the company to obtsin an aut*t in accordance seclion 476 of the Comparmes Act 2006. The directors acknowledge thew respor￿1b￿l￿ for eomplwng knith Ihe re(Fllrements of the Companies Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance ￿ryth the proviwns appkable to small companies subjed to the small companies regime and in attordance with FRS 102 SORP. C A Plnchbo¢k- Chair 28th June. 2024 Page 5 H¢ckifVJton Windmill Trust Notss to the Accounts for the Year EndwvJ 31st March 2024 Accounting policies These a¢¢ounts have been prepared under the historical cost corNention items recognised at ¢ost or transaction value unless otherwise stated in the relevant note(s) to these aG¢ounts. The accounts have been prepared in accordance %*ith the Statement of Re￿Mrnended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 Juky 2014 and ￿ the Financial Reportir¥J Slandard applicable in the Unlted Kingdom and Republic of Ireland (FRS 102) and with the Charilies Act 2011. The charÈty constitutes a public benefft entsty as defined by FRS 102. Recognition of income These are Included In the Statement of Finandal Aclivitses {SoFA) ￿. the chartty becomes entiued to tho resources; it is more likely than not that the trustees will receive the resources: the monetary value can be measured sufficient reliabilty. Offsetting There has been offsetting of assets and fbabifities, or irKome and expenses, unlv68 required or permitted by the FRS 102 SORP or FRS 102. Grants and donations Grants and donations are onty included In Ihe SOFA when the general rncome re￿gnitIon criteria are met (5.10 to 5.12 FRS 102 SORP). In the case of performance related grants, income must only be recogimsed to the extent thatthe charity has provided the specified goods or seThfjces as entitlement to the grant only occurs when Ihe perforn)ance related conditions are met (5.16 FRS 102 SORP). Legacles Legacies are Induded in the SOFA vthen receipt is probable, that 15. ¥then there has been grant of probate, the executors have e8tsbtished that there are sufficient assets in the estate and any condrti'or6 attached to the legacy are either vathin the control of the charity or have been met. Govemment grants The charty has received govemm8nt grants in the reporlwig period Tax reclaims on donations and gifts Gift Aid receNable is induded in income vthen there is 8 vatid dedaration from the donor. Any Gift Aid amount recovered on donation is considered to be part of that gift and is treated as an addilion to the same fmd as the i)btial donation unless the donor or the termg of the appeal have 8p¢cified 01he￿. Contraclual income and perfommnce rnlated grants This is only included in the SOFA once the charity has provided ts related goods or ser¥ice8 or met tr* performance related ¢onditÉons. Donated goods Donated goods are measured at fa* value (the arno￿t fw the asset could be exchanged) unless impra¢tical to do so. The cost of any stock of goods donated for dlstribution to beneficiaries b deemed to be the falr value of those ￿ at the Ilme of thelr reCe￿t and they are recO￿lsed on receipt. In the report¥ig period in Nthich the stocks are diStrib￿ed, they are recognlsed as an expense at the carrying amount of the stocks at (tstribution. Donated goods for resale are measured at far value on ini¢ial re¢ognthon. vthi¢h is the expected proceeds from sale less the expeGted costs of sale. and recognised in 'lncome from other tratal Income from inv•slm•nts: Interest income Rental and leasing irKome Total 602 10,957 11.559 10,957 11,559 9.798 9,798 Separato material itom of incom# Compensation I VAT Refund T¢)tal 418 418 418 418 3,602 3,602 TOTAL INCOME 160,397 34,885 195.282 138,644 All income in the prior year was unrestricted ex¢ept for: NHLF National Lottery Fund 7,725 7,725 Page 9 Heckiryton Windmill Trust Not•s to the Accounts Contlnuod for the Year Ending 31st March 2024 EXPendi￿re 2024 Restricted income rrfls Total funds 2023 Restricted income nds Total fund8 Unreslricted funds Unrestrided funds Analysis Expenditure on raising funds: staging fundraising events Advertising and marketing Generating new fijture income Professlonal fees Property repalrs and maintenance Totsl 15 3,484 21.172 SC 3,499 21.172 145 692 1,158 2,474 2,037 1,850 2,474 2,037 (355) 340 25,156 24.816 692 5,669 6,361 Expenditure charitable and olh•r tradiry athilies: Staglng fvndralslng events 2,825 Operating site 13,050 Operating tearoom and 9hop Advertising and marketing Generating new future income Purthases for shop and tea room Other trading activitses Property repairs and maintenance Total 2.825 36,116 28,613 680 3,557 684 23,547 25,329 23,066 28,613 19,990 25,329 36,982 3,486 17,990 110.137 379 1.942 676 18.872 37,361 5,428 18,666 129,009 28.895 3,251 17,507 94.976 192 2,436 143 7.008 29,087 5,687 17,650 101,984 Profe&sional fees Bank charge8 Accountancy Total other ￿Pendi￿re 1,301 1,624 2,992 5,917 1,301 1.624 2.992 5.917 1.819 2,145 3,964 1.819 2.145 TOTAL EXPENDrruRE 113,761 44,028 157.789 101,585 12,677 114.262 Other infommtion: Analw of expendtiure on charitable activibes 2024 2023 Activity or prngramme Actlvllles Grant undertaken ftMKllry of directy actMIIos Activilies Grant undertaken fundN￿ of directty activrlies Support Total tast Costs Support Total this Costs Tea Room Shop Other Total 24,160 13,201 91,648 129,009 24.160 13,201 91,648 129,009 18.825 10.262 72,897 101,984 18,825 10,262 72,897 101,984 Page 10 Heckiw w4￿mIll Trust N¢)tes to the Accounts Continued for the Year Endiry 31st March 2024 Details of certain types of expenditure 4.1 Fees for examlnadon of the accounts 2024 2023 Independent examinerfs fees Assurance services other than ndependent examination Tax advtsory fees Other fees (for example: ffftanoal advice. ¢onsthncy. accountsncy services) paid to Ihe examiner 870 1.038 1,275 2,145 1,954 2,992 Pakl employ¢¢s 5.1 Staff Costs 2024 2023 Salaries and wages Social security costs Pension costs (defined contributs'on scheme) Total staff costs 49,398 27.473 387 49,785 330 This year: No stsff working for the charity whose contracts are vfilh and are paid by a related party Last year: No staff vmrking for the char￿1 ￿ose contracts are wilh and are paid by a related party No employees received employee beneffts (excluding employer pension eosts) for the reportw)g period of more than £60,000 No amount has been paid to key management personnet fmdudes trustees and Senior Management) for their services to the charity. 5.2 Average h•ad count In the year 2024 Number 2023 Number The parts of the charity in vthich the employees w￿k FundraisiNJ Charitable Actlvit*s Governa￿e Total 6.1 Dellned Contrlbudon Penslon Schom• 2024 2023 Amount of contributions recognised in the SOFA as an expense 387 330 Defined contribubon pertsion scheme costs are allocated between activitses and between restricted and unrestricted funds based on the role the relevant employee undertakes and ￿lch fund provides the remuneration for that employee. Page11 Heckington Windmill Trust Notes to the Accounts Continued for the Year EndiThJ 31st March 2024 Tangible fixed assets 7.1 Cost or valuadon Plant and machinery Total At the beginning of Ihe year Additions Revaluations Disposals Al end of the year 1.000 1.000 1,000 72 Depreclation and impaimwnts SL or RB (Straight Line or Reducing Balance) Depreciation Rate RB At beginning of Ihe year Dlsposals Depreciation At end of the year 7.3 Net book value Net book value at the beginning of the year 1.000 Net book value at the end of the year 1,000 1,000 Stock For di9tribulion For resale For dstributton For resale Other trading activities: Opening Added in period Expensed in period Closing Total this year 9,636 37,625 37,361 9,900 9,900 Totalprevlous year Dobtors and prepaym*ts 9.1 Anaty818 of debto 2024 2023 Trade debtors Prepayments and accrued income Other debtors Totsl 12.392 10.767 ,770 1,345 23,159 10,115 Page 12 Heckingkn Windmill Trust Notes to the Accounts Continued lor the Year EndlNJ 31st March 2024 10. Credltors and accruals 10.1 Analysls of Credltors Amounts falling due within one y￿r Arno￿￿ falling due after more than one 2024 2023 2024 2023 Tiade credÉtors Acctuals and deferred income Taxation and social security Other creditor5 Total 7,926 1,638 7,427 6,813 1,038 629 16,991 8,480 11. Ca$h at bank and in hand 2024 2023 Cash at bank and in hand Other Total 151,580 118,884 151,580 118,884 12. Leaslng Agreements Minimum lease payments under non4anceUable operating leases fall due as follows.. 2024 2023 Within one year Between one and five years In more than fve yea[5 750 3,000 64,500 750 65,250 Page 13 Heckington Windmill Trnst Notss to the AcC￿nts Continued for the Year Ending 31st March 2024 13. Charity funds 13.1 Delalls ofmaterfal funds held and movements duiry the CURRENT reporty pwlod . Key.. PE- pem?anent endowment fvnds.. EE- expendable endowment fvnds." R- restn"ct8d income fvnds, including special tnists, ofth8 charity." and U - unr8Strict8d fvnds ' Purpose and Restrictions, the purposes and restricts'on8 on fvnds afft detailed below Fund Fund balances carried forwanl brought forward kncome pe Fund names iture Transfers UR General Fund UR Repairs and Renewa15 NH Lottery Fund Peter Lett Fund Tuxford Fund Total Funds as per bala￿8 sheet 84,395 45,521 (1,435) 1,674 1,000 131,155 160,397 (118,309) (1,908) (36.870) (627) 75 157.789 (22,167) 18,747 3,420 104,316 62,360 34,885 1,047 925 168,648 195,282 13.2 0etall8 ofmaterlal fill￿$ held andmovements dwlng the PREVIOUS repofthg perfod Fund balances brought forward Fund balances carried fofward Fund name5 iture Transfe UR General Fund UR Repairs and Renewa Bicker Trust Fund MDEM Collections MDEM Small Bus. Grant NH Lottery Fund Peter Lett Fund Tuxford Fund Totsl Funds as per balanc• sh¢et 65,313 130.919 35,269 1,174 1,500 700 (99,646) (12,191) (1.939) 12,191 (1.174) (1,000) (1.200) (9.160) (143) 84,395 45.521 (500) 500 7.725 (1,435) 1,674 1,000 131,155 1,817 1,000 106,773 138,644 114.262 - 13.3 Purposes and Restrlcoons of Funds Peter Lett donalim fund are donations received in memory of and are used in englneering and restoration projects. Repairs and renewals fund 15 a designated fvnd set by the trustees Inlo vths¢h 50% of the amual net siKplus is to be transferred each year. The Tuxford fund is to cover the cost of a book on Ihe Tuxford en￿e. The National Lottery Heril4e Fund (NLHFI is for a 3 year Engagement and Development Project aims to expand the a¢tsvrtie8 on site, increase visitor numbers and swport volunteer reffl#tment and training. MDEM Collections and Bicker Trust fund are grants received to enable the development of e(kn¢a*onal facilities for schools & youth groups. MDEM Small Busir￿S Grant fund is fundng r￿elled to supwt collecliorB and mltseum developmenL Transfers between Funds Being those costs incurred by the Trust not dire¢ty covered by the restricted funds received. Page 14 Heckington Windmill Trust Notes to the Accounts Continued for the Year Endirvj 31st March 2024 14. Transactions with trustees and r•lated parties 14.1 Trustee remunerakn andbeneffts This year None of the trustees have been paid any remuneration or ie¢eNed any other benefits from an emplownent ￿ their charity or related entity. Last yoar None of the tru6tees have been pald any remuneralion or r8ceNed any other beneffts from an employment wlth thelr charity or a related entity. 14.2 Trustees. expenses Type of expenT•es reimbursed 2024 2023 Publlcity Event expenditure Shop / Tearoom purchases Materials and mawrtenance Minor equipment Postsge and stationery Training Mlscellaneous expenses Telephone Travel expenses 107 711 603 1.711 1.421 1.121 33 415 42 404 382 4,494 4,549 1,083 293 488 152 TOTAL 6,681 12,163 Number of trustees reimbursed for expenses or th had e>penses paid by the charTty 14.3 frans•cllorf8) th related parfes This year There have been no relatsd party trarffAc1ionB in the reporting period. Last year There have been no related party transactions in Ihe reporting period. Page 15