Registered Company Number 07210264 Registered Charity Number 1139207 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS He¢kington Wndmil T￿￿t For the Year 1st Aprl 2024 to 31st March 2025 Prepared by ST Bookkeeplng Services Llmit Tower House Evedon Sleaford NG34 9P8 Heckington WirKlmill Trust Contents of the Fhmnclal stateme￿ For the Year Endlng 31st March 2026 Pages1-2 Report of the Trustees Page 3 Independent EXam￿e￿S Report Page 4 Statement of Financial Actrvities Page 5 Balance Sheet Pages6- 15 Notes to the Financial Ststements Heckingkn Windmill Trust Report ol the Trustees for the Year Ending 31st March 2026 The trustees vtho are also directors of the charity for the purposes of the Companies Act 2006, present their report wltrs the financial statements of the charrty for the year ended 31 Marth 2025. The trustees have adopted the provisions of Accounting and Reporting by Chatities: Ststement of Recommended Practice applicable to charities preparing their accounts in a¢¢ordan¢e with the Finanaal Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102) (effective 1 January 2019). Objectives and Activitles I, To preserve, restore and maintsin Heckington Windmill for the pubk benefit as a building of architectural and historical importance. 2. To advance Ihe edu¢alion of the publc in the h*tory and operation of the Windmill. Publlc benefft The trustees confim that they are avrdre of the giNda￿ contained i) the Charity Comrnission's g8n8ral guidance on publlc benefft and consider that the ongoing operation and development of the mill provides siwFfi¢ant educational and conservation beneffts to Ihe public. Achievement and Perfornwnce The Trust continues to be successful in its objective to open and operate the windmill as ahigh qUa￿ty attraction for the benefft of the Publrc. The windmill vrns opened on approximatety 180 days during the year, and has Ihe highest Tripadvisor rating in the area. Milling operations have been ￿gnificanty expanded with a WFde range of products. This has increased the ability to demonstrate MI￿.ng for our bTrsitors as well as keeping milling skills allve and generating revenue. The National Lottery Hertiage Funded En￿gement & Development Project is being Su￿e$s￿￿1Y delivered supporting and building the volunteer base of the Trust and widening the audience and athibes on site . The Trust had another strong year financial￿ generatin9 a surplLL8 of £21,416, taktng the totsl reserves to £190,064. Volunteers The operation and success of the Tn￿t is underpinned by a very substantial contribution from its voluntsers. Of the 85 registered volunteers most corrtFibute more than 50 hours per year. and many substantialty more. This equates to appr0￿MatelY £48,620 per annum. Financial Review Principal funding sourus The principal funding sources for the charity are by TNay of profts made on sales in the shop and tea room, entrance fees, donations and rerrtal income from the Brewery. Inveslment policy and objectives Cash is held in interest eaming deposits at banks and other fflststrrtlons. FwK15 not reqlured to be immediatety accessed are held in higher interest rate dep08its at varying periods of notice relalmg to the likely timescale on vthich they would need lo be accessed. policy b revlewed annually. Reserves pollcy At 31st March 2025 the charity had £190,C64 (2024.. £168.648) In reserves. £190.064 (2024: £166,676) is unrestricted and £0 (2024: £1,972) were restricted. The reseNes pothcy Is to transfer 50Yts of the anrn￿1 $￿phj5 a Repair & Renewals Fund. This ts retained to fund ongoing major repairs and renewals of equipment a￿osS the site. The tsrget is to maintain a cash reseNe equal to 6 months of r￿rMal operaling costs. The reserves policy 18 reviewed annualty. Page 1 Heckiryton Windmill Trust Report of the Trustees continued for the Year Ending 31st March 2025 Future To continue to open the windmill arKI promote it to1he widesl possl)le audience. This indudes promotion to vl8ftor8 to the area as well as developmenl of an edu¢alional programme. To work abongside LincolnshKe County Council to complete the windmill's ojrrent repair programme. re￿rnIng it to operation at the earliest possibty opporhjnty. To successfjJlty complete the NLHF Engagement and Development Project and to develop a robust plan for continuation at the end of the current funding cyde. Struthre Govemance and Ma Govoming docum•nt The charity is controlled by fts governing document, a deed of trust. and cortstitutes a Ilmited company, limlted by guarantee, as defined by the Companles Act 2006. The goveming document of the charity is its Memorandum and Nrtides of AS8o￿allon. The charity is managed by the tn￿ who meet on a regular basis and decisions are made al these meekngs Key management remuneration The total amount of employee benefft8 re¢eNed by key management personnel is £Nil (2024 £Nil). Risk managemènt The trustees have a duty to identsfy and review the risks to Nthich the tharity is exposed and to ensure appropriat8 ¢ontrols are in place to provide reasonable assLwan¢e against fraud and erTOr. Tru$ts•s C A Pinchbeck M A Hardy J Lewin P Reid Appoinled on 16109r2024 Registered Office Heckington Windmill Hale Road Heckington Lln¢olnshire NG34 9JW Accountsnts ST Bookkeeping Services Limited Tower House Evedon Sleaford NG34 9PB Registered Charity Number 1139207 Registsred Company Number 07210264 {EnglarKI & Wales) Signed :. C A Pinchbeck - C 20th June, 2025 Page 2 Heckington Windmill Trust Ind•pendent EX￿ine￿$ Report to the Trust•es ine rttothet of Hecki Windmill Trust I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025, Responsibilities and basis of ref AS the chatitls trustses of the Company (and also ts directors for the purpo8e8 of wmpany law) you are respO￿ble for the preparation of the a￿)Unts in accordance Nmlh Ihe req￿ernents of the Companies Act 2006 (Ihe 2006 Acr). Having sat'sfied msffjelf that the accounts of the Company are not required to be au(tted under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examinalion of your charity's accounts as ¢arried out under 6eclSon 145 of the Charllies Act 2011 (￿e 2011 Acf). In carying out my examination I have followed the Direcllons given by the Chanty Commission under section 145(5) (b) of the 2011 Act. Independent examinerfs stalen￿ I have completed my examination. I confirm that no matters have come to my attention in connection wllh the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or the accounts do not a¢¢ord vdth th08e records., or the accounts do not comply vdth the accounting rewirements of section 396 of the 2006 Act other than any requirement that Ihe accounts gile a true and fair view %￿leh is not a matter considered as part of an independent examination,. the a¢¢ounts have not been prepared In accordance y￿th the methods and prknciples of the Ststement of Recommended Praclice for accounting and reporting by charities (applicable to charit5es preparing their accounts in accordance with the Finan￿al Reporting Standard applicable in the UK and Rep￿lIC of Ireland (FRS 102)). I have no Goncems and have come acros6 no other matters in ¢oMec1ion with the examination to Tthi¢h attention should be drawn in this report Ki order to enable a proper understsn(kng of the acco￿￿ to be reached. fmothy Ta￿Or (FMAAn ST Bookkeepin9 Services Llmlted Tower House Evedon Sleaford NG34 9PB 20th June, 2025 Page 3 Heckiw Windmill Trust Slatement of Fknanclal Activllies For the Year ErKling 31st March 2026 Repairs & Unrestrided Renewals Funds Funds Restricted Total FuThls Funds 2025 Total Funds 2024 Notes Income and endowments from: Donations and legacies Charitable actvtbes Other trading activibes Investments Other - Scrap I Compensafjon Total 25,270 14,970 129,651 14,670 37,854 63.124 14,970 129,651 14,670 26 222,441 53,285 14,895 115,125 11,559 418 195,282 184,587 37,854 Less: Expenditure on: Ralsing funds Charitable actvitses Separate material expense item Other Total 87.884 58.892 25,334 14.492 113.218 87.807 100,179 57,610 14,423 146.776 14,423 39,826 201.025 157,789 Net income l (expenditure) before tax for the reporting period Transfers between f￿dS N8t mov8ment in fvnds 37,811 10,708 27,103 14.423 10,708 3,715 1.972 21,416 37,493 13 1,972 21,416 37,493 Reconclllatton of funds." Total funds brought fotbyard Net movement in funds Totsl funds carried forward 104,316 27,103 131,419 62,360 3,715 58.645 1,972 1.972 168.648 21,416 190,064 131,155 37,493 168,648 Page 4 Hecklngton Wlndmill Trust Balance Sheet For the Year Ending 31st March 2026 Repairs & Unrestricted Renewals Restricted Total Fund$ Funds Funds Funds 2026 Totsl Funds 2024 Fixed Assets Notes Tanglble A86ets 7,740 8,740 1,000 Current Assets Stocks Debtors Bank 11.983 12,922 117.020 11,983 12,922 167.925 9,900 23,159 151,580 11 50,905 141,925 50,905 192,830 184,639 Current Liabilities: amounts falliwj due withln one y 10 11,506 11,506 16,991 Net Current a88ets /(Ilabllldes) 130,419 50.905 181.324 167.648 To¢al assets less cuffent Ilablllths 131.419 58,645 190,IX4 168.648 Creditors.. amounts falling due after one year Provisions for liabiltlies Total net assets or llabllllles 131,419 58,645 190,064 168,648 Funds of the Charity Restricted income funds Unrestricted funds Total funds 13 1,972 186,676 168,648 131,419 131,419 58,645 58,645 190.064 190,064 The company was entiued to exempiion from audit under s477 of the Companies Act 2006 relab'ng to small companies. The member8 have not required the company to oblain an au(lit in a¢¢oTdance section 476 of the Companie8 Act 2006. The directors acknowledge their resp0rtslbdit￿ for comptyiry wlh the rewirements of the Companies Act with respect to accounting record3 and the preparation of accounts. These accounts have been prepared in accordance with the provtsiorts applcable to small companies 6ubje¢t to Ihe small ¢ompanies regime and in accordance v￿th FRS 102 SORP. C A Pinchbeck - Chair 20th June, 2025 Page 5 Heckirwn Windmill Trust Notes to the Accounts for the Year Endlng 31st March 2025 Accounting pollcies These a¢counts have been prepared under the historical cost convention items recognised at Cost or transaction value unless otheri￿se stated in the relevant note(s) to these accounts. The accounts have been prepared in a¢¢ordance with the Statement of Recommended Practice: Accounling and Reporting by Charitie8 preparing their accounts in accordance with the Financial Reporkng Stsndard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 JU￿ 2014 and with the Financial Reporling Stsndard appliCa￿e tn1he Unlted Kingdom and Rewblic of Ireland (FRS 102) and wth the Charities Act 2011. The charity constitutes a publi¢ beneft enty as defined by FRS 102. Recognition of in¢ome These are included In the Ststement of Flnancial Actsvibes (SOFA) ￿en. the charty becomes entitted to the resources; it is more likety than nol that the trLk8tees will receive the resources: the monetary value can be measwed with sufficient reliab￿. Offsetting There has been no offsetting of assets and habiMies, or ￿Kome and experoes. unless required or permitted by the FRS 102 SORP or FRS 102. Grants and donations Grants and donations are onty incfuded in the SOFA when the general wicome recognition criteria are met (5.10 to 5.12 FRS 102 SORP). In the case of performance related grarrts. ncome must orty be recognbsed to the extent that the charlty has provided the Speclfied goods or sepAces as enthiement to the grant only occurs when Ihe performance related conditions are met (5.16 FRS 102 SORP). Lega¢l•$ Legacies are included in the SOFA recept is probable, that 18, vthen there has been grant of probate, the executors have establkshed that there are Sufficient assets in the estate and any ￿nditionS attached to the legacy are either ￿￿thIn the control of the Charty or have been met. Gov•rnmont grants The charty has received government grants in Ihe reporting period Tax re¢laim$ on donalims and gifts Gift Aid receivable is included in income when there 18 a valid dedaration from the donor. Ary Gift amount recovered on donation is considered to be part of that gift and is treated as an addilion to the same fund a6 the initial donation unless the donor or the terms of the appeal have spectffied otheThvi8e. COntrac￿al income arKI perforniance related grants This is onty induded in the SOFA once the charty has provided the related goods or seThice8 or met the performance related conditions. Donated goods Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impradical to do so. The cost of any stock of goods donated for dlstribution to beneficiaries is deemed to be the falr value of those gifts at the time of their receipt and they are reCO￿lsed on receipt. In the reporting pwiod in vthich the stocks are distributed, they are recognised as an expense at the carying amowrt of the stocks at distribution. Donated goods for resale are measured at fair value on initial recognition, which ts the expected proceeds from sale less the expected Costs of sale, and recogrmsed in 'lncome from other trading actNrbes' with the correspondwig stock recognised in the balance sheet. On its sale the value of stock is tharged against 'lncome from other trading aclivitses, and the proceeds from sale are at80 recognised 88 "Income from other trading adi¥ibes'. Goods donated for on-golng use by the charity are recognised as tangible r￿ed assets and included in the SOFA as incoming resources when receNable. Glfts h kind for use by the charlty are Inthded in the SOFA as Income from donatlorts vthen receivable. Page 6 Hxkingkn Windmill Trust Notes to the Accounts for the Year Ending 31st March 2025 Accountirwj policies continued Donated services and facilities Donated Se￿ice8 and facilibes are induded in the SOFA when received at the va￿e of the gift to the charity provided the value of the gift can be measured reliably. Donated services and facilibes that are consumed immethalely are recog1ised as income an equfvalent amount recog￿Sed as an expense under the appropriate heading in the SOFA. Support costs The charity has incurred expenditure on support costs. Volunleer help The value of any voluntary help received is not induded in the accounts but is descrbed in the trustees, annual report. Income from interest, royafties and dividends This is in¢luded in the a¢¢ounts when receipt is probable and the amount receNable can be measured reliabty. Income from membership subscriptions Membership 8ubscript.ons receNed in the nalure of a gfft are recognised in Donations and Legacies. Membership subscriptions vthi¢h gives a member the right to buy serNryce8 or other benefits are recognised as income eamed from the provision of goods and seThryces as income from charitable aCts￿ltseS. Sfrttlement of Insurance clalms Insurance claims are onty included in the SOFA vA)en the general income recowilion criteria are met (5.10 to 5.12 FRS 102 SORP) and are included as an item of other income in the SOFA. Investment gains and losses This includes any realised or unrealised gains or losses on the sale of inveslments and any gain or ioss resull¥)g from revaluing investments to market value at the end of the year. EXPENDITURE AND LIABIUTIES Llability recognition Llabilities are recognvJed where it is more likety than not that Ihere is a legal or corthctive obligat'on commitling the chanty to pay out resources and the amount of the obligation can be measured vhth reasonable certainty. Governance and support costs Support Costs have been allocated befvleen govemance costs and other support. Govemance costs comprise all costs involvlng public accountability of the Charity afKI tts compliance with regulation and good practice. Support costs include central fUnCtior￿ and have been allocated to actvity cost ¢ategories on a basB consistent with the use of resources, e.g. allocats'ng property costs by floor areas, or per capita, stsff costs by the time spent and other GO8ts by their usage. Grants with perfomiance corKlitions Where the charty gives a grant Wsth condillons for its payment being a speofic level of service or outy)ut to be provld8d, such grants are onty recognised in the SOFA once the recipient of the grant has provided the specified service or outy)ut. Grants payable without ￿rfOrManCe conditions Where there are no conditrons attachlng to the grant that en8bles the donor charity to realislicalty avoid the commitment, a liabilty for the full funding obligation must be recognised. Redundancy cosl The charity made no redundancy payments thjring reporling perK)d. No material item of deferred income has been in￿ded in the ac¢ounts. Credltors The ¢harty has creditors knthi¢h are measured at settlement amouts less any trade discounts Page 7 Heckiw Windmill Trust Notes to the Accounts Contirn*d for the Y•ar EndSng 31st Ma￿h 2025 Accountlng pollcies continued Provisions for liabilities A liabilty is measured on recogntlion at its historical cost and then subsequenty measured at the best estimate of the amount required to settle the obligation at the reporting date Basic financial instruments The charty accounts for basic financial instruments on inilial recognition as per paragraph 10.7 FRS 102 SORP. Subsequent measurement ts as per paragraphs 11.17 to 11.19. FRS 102 SORP. Tangible f￿ad assets for use by the Charlty These are ¢apitslised if they can be used for more than one year, and cost at least £1.000. They are valued at cost. The depreciation rates and methods L￿d are dis¢losed in rN)te 7. Stocks and Work in Progress Stocks held for sale as part of non-¢harrtable trade are measured at the lower or cost or net realisable value. Goods or services provided as part of a charitable acts￿ty are measured at net realisable value based on the service potential provided by item8 of stock. Work in wogress 18 valued at cost less any foreseeable10s8 that 18 likety to o¢¢ur on the contract. Debtors Debtors (induding trade debtors and loarB reekivable) are measured on irmlial recognition at setdement amount after any trade discounts or amount advanced by the ¢harty. Sthequenty, Ihey are measured at the cash or other consideralTron expected to be received. Taxation The charity is exempt from Corporation tax on its charitable acti¥itses. Fund aCc(￿￿1ng Unrestricted funds can be used in accordar￿e the ¢haritsble objectrrfes at the (kGre1ion of the trustees. Restricted funds can only be used for particular restricted purposes V*ithin the objects of the ¢haTity. Restrictiorts arise when specified by the donor or bthen funds are raised for pait¢ular restricted purposes. Further explanation of the nature and purpose of each fwKI is included in the notes lo Ihe finan(aal statements. Deslgnated funds are funds set aside by trustees out of unrestricted funds for specific futyre pwpose8 or projects. Hlre purchasè and leaslng commlknents Rentals paid under operating leases are charged to the Ststement of Flnancial Activibes on a straight line basis over the period of the lease. Ponsk>n costs and other postwrntirement benefits The Charty operates a defined contribution pension scheme. Contributiorts payable to the Chaiit¢s pension scheme are charged to the Statement of Financial Actvibes in the period lo vthich they relate. Page 8 Heckiryknb Wmdmill Trust Notss to the Accounts conti￿ for the Y•ar Endlng 31st March 2025 Anatysis of income Repairs & Unrestricted Renewals Restricted Funds Funds Funds Total funds Prior year Donations and legacies: Donations and gifts Gift General grants provided by ott￿r chariliet Membership subs and sportsorships Other 2.298 445 21.688 839 2,298 445 59,542 839 3,167 688 48,715 715 37,854 Total 25,270 37,854 63,124 53.285 Charltable activitles: Mill Entrance Group VBits Other 12,639 2,331 12,639 2.331 13.841 1.054 Total 14.970 14.970 14.895 Other trading activities: Tea Room Sales Shop Sales Events Hire 98,312 27.213 1.573 2,553 129.651 98.312 27.213 1.573 2,553 129,651 88,070 22,939 1,876 Total 115,125 Income from Inveslments: Interest income Rental and leasing Income Total 3,138 11,532 14.670 3,138 11,532 14,670 602 10,957 11,559 Separats material ftem of income Compensation I VAT Refund Total 26 26 418 418 TOTAL INCOME 184,587 37.854 222,441 195,282 Other infomk*ion: JI income in the prior year was unrestricted except for: NHLF National Lottery Fund 34,885 34,885 Page 9 Heckington Windmill Trust Notss to the Accounts Continued for tho Year Endlng 315t March 2026 eXpe￿IltUre 2025 Restricted income funds 2024 Restricted income funds Unrestricted funds Unrestricted funds Analysis Expenditiire on raislng funds: Total fvnd5 Totsl funds staging fundraising events Advertising and marketing Generating new futtjre income Professional fees Property repairs and maintenance Total 63 4,414 2Q,920 3,110 4,477 20.920 3,110 15 3,484 21,172 500 3,499 21,172 145 (355) 63 28,444 28,507 340 25,156 24,816 Expendllure on Charitable and othèr tradlNJ aetlvltles: Staging fundraislng events 1,379 1,887 Operating site 42,623 2.637 Operating tearoom and shop 35,077 Advertising and marketing Generating new future income Purchases for shop and tea room Other trading activities Property repairs and maintenance Totsl 2,825 13,050 2,825 36,116 28,613 45.260 35.077 23,066 28,613 42,053 4,737 31,452 157,321 42,053 9,467 33,565 168,688 36,982 3,486 17,990 110,137 379 1,942 676 18,872 37,361 5,428 18,666 129,009 4,730 2,113 11,367 Other Professional fees Bank Charges Accountancy Total other expend￿re 2.098 1,717 3.815 15 2.113 1.717 3,830 1,819 2,145 3,964 1,819 2,145 3,964 15 TOTAL EXPENDrruRE 161,199 39,826 201.025 113.761 44,028 1 57.789 Other infomiation: Anaty8is of expendlture on charitsble actr4iti88 2025 2024 Activity or programme Activities Grant undèrtaken fvnding of directly activities Support Total this Costs Activities Grant undertaken fvndlng of directly activities Support Total last Costs Tea Room Shop Other Total 26,938 15,115 126,635 168,688 26.938 15,115 126,635 168,688 24,160 13,201 91,648 129,009 24,160 13,201 91,648 129,009 Page 10 Heckityton Windmill Trust Not•s to the Accounts ContIN￿ for the Year Ending 31st March 2025 Detsbls of certain types of •xpendhurn 4.1 Fees lor examlnakn of the accounts 2026 2024 Independent examiner's fees A6suran¢e seThices other than independent examination Tax a(fvisory fees Other fees (for example: financial athryce. ¢on6thncy, accountancy ÉeNices) paid to the examiner 870 870 1,717 2,145 Pald employees 5.1 Staff Costs 2025 2024 Salaries and wages Social security costs Pension costs (defined contribution scheme) Total staff costs 55,590 49,398 407 55,997 387 This year: No stsff V￿rkIng for the charity whose c¢)ntracts are with and are paid by a related party Last year.. No staff workttig for the charity vthose ¢ontra¢ts are and are paid by a related party No employees received employee benefrts (excluding employer pension costs) for the reportlng period of more than £60,000 No amount has been paid to key management personnel (includes trustees and senior management) f￿ their services lo the charity. 5.2 Average head ¢ount In the year 2025 Number 2024 Number The parts of the charity Én vthich the employees work Fundraising Charitable Activities Govemance Tcrtal Defined contribution pension scheme or defined benefft scheme accounted for as a defined wrtribution schemo. 6.1 Dellned Contrlburfon Penslon Schem• 2025 2024 Amount of contrbbutions re¢ognised in the SOFA as an expense 407 387 Defined conthbution pension scheme costs are allocated between ac1p4itses and between restricted and unrestrictsd lunds based on the role the relevant employee undertakes and Ythtch fund provides the remuneration for that employee. Page11 Heckington Windmill Trust Notes to the Accounts conti￿ for the Yoar Endlng 31st Ma￿h 2025 Tangible r￿d assets 7.1 Co4t or valuatlon Plant and machinery Total At the beginning of the year Additions Revaluation8 DisposaLs At end of the year 1,000 8,600 1,000 8,600 9,600 9,600 72 Depreciation and impaimieits SL or RB (Straight Line or Reducing Balance) Doprn¢iatlon Rate SL 200/0 At beginnw)g of the year Disposals DeprecIa￿on At end of the year 860 860 7.3 Net book value Net book value at the begiming of the year Net book value at the end of the year 8.740 St¢xks 8.1 Amount of stock and Wcfk In progress ￿edbolWOen aetfvlil•& Stock For dBtribulion For resale For distrlbution For resale Other trading actfvttkn: Opening Added in period Expensed in period Closing Total this year 9,900 44.136 42,053 11,983 Total prevlou8 year 9.900 Debtors and prepayments 9.1 Analy31$ of debtors 2026 2024 Trade debtors Prepayments and a¢¢Ned income Other debtor8 Total 3,085 7,359 2,478 12,922 12,392 10,767 23,159 Page 12 Heckington Windmill Trust Notss to tho ACc￿nts ConliNed for the Year EndiThJ 31st March 2025 10. Creditors and aC¢n￿lS 10.1 Analy818 of credlto Amounts falling duo wilhin one year Amounts falliNJ due after more than one year 2026 2024 2025 2024 Trade ¢redltors Accruals and deferred In￿Me Taxation and social security Other creditor T¢)tsl 9,501 1.617 388 7,926 1,638 7,427 11,506 16,991 11. Cash at bank and in hand 2026 2024 Cash at bank and in hand Other Total 167,925 151,580 167,925 151,580 12. Leasing Agreemeiits Minimum18ase payments under rK)n