``` REGISTERED CHARITY NUMBER: 1184163 ``` ## **`Report of the Trustees and`** ``` Financial Statements for the Year Ended 31 March 2024 ``` ``` for ``` ``` Woodbridge Tide Mill Charitable Trust ``` ``` Knights Lowe Ltd Chartered Accountants Crane Court 302 London Road Ipswich Suffolk IP2 0AJ ``` ``` Woodbridge Tide Mill Charitable Trust ``` ## **`Contents of the Financial Statements for the Year Ended 31 March 2024`** ||**`Page`**| |---|---| |**`Chairman's Report`**|`1`| |**`Report of the Trustees`**|`2 to 3`| |**`Independent Examiner's Report`**|`4`| |**`Statement of Financial Activities`**|`5`| |**`Statement of Financial Position`**|`6`| |**`Notes to the Financial Statements`**|`7 to 13`| |**`Detailed Statement of Financial Activities`**|`14 to 15`| ## **`Woodbridge Tide Mill Charitable Trust`** ## **`Chairman's Report for the Year Ended 31 March 2024`** ``` The year marked a furtherrecovery from the negativeimpact on visitorsand volunteerscaused by Covid. The Trustees areproudof theMillteamled,frontof house,bySeniorWardenSteveMolyneauxforprovidingvisitorswitha great experience which, for another year, enabled the Mill to win a Tripadvisor Travellers' Choice Award. ``` ``` TheMillcontinuedtoproduceflourwhichiswidelyregardedforitsquality.Thevolunteermillershavegrown in number and are lookingforwardto resumingmillingdemonstrationsto visitorsduring2024. We are now the only tide millintheUKproducingflour.Themillingteamiswellsupportedbyvolunteerswhobaganddistributetheflour to retail outlets and restaurants. My thanks to Caroline Peeke and Ian Gray for their leadership of the teams. ``` ``` The exposed positionof the Mill means that the maintenanceteam, our Hon Architectand volunteersurveyorneed to keepakeeneyeontheconditionoftheMill'sstructure.Intheyearwe notedsometimberrotintheinnerpit area. The problemis the timberstayswet forlongernowwiththe highertideheightsthanwhenit was originally installed. The timberin questionsupportsthe verticaldrivethattakespowerfromthe wheelupthroughthe Millto power the stones.It'simportant.A lothasbeendonetoplantherepair,seekcontractorsandgetListedBuildingConsent. Now we need grants to help pay for the essential work. ``` ``` TheawardofagrantfromSHAREMuseumEastallowedustoextendthewonderfulEco-Warriorsworkshops for students.ThesefeaturetheMill,itslocationontheRiverDebenandtheenvironmentalimpactitandthe wider communityareexperiencingtoshowtheimportanceof renewableenergy,as usedbytheMill,todemonstrate what can be done to halt climate change. ``` ``` The Mill has also been used for art workshopsdevelopedby Alice Stallardwhich includedchildren.Magritteat the Mill wasafreefamily-friendlydrop-inartsessionforallagestocomealong-explore,takepart,discoverand create something new. ``` ``` ThewaytheMillexplainsitshistoryandmechanicswasoverhauledintheyear.Amongtheworkdone,the model whichshows how the tide creates the power of the Mill was restoredthanksto our volunteerJohn Harrison.Our Hon Curator Mark Barratt refreshed our display on Tidal Energy as Renewable Power. ``` ``` DuringthewinterourcommunicationsvolunteerSimonBallardcreateda wonderfulnew GuidebookfortheMill and succeeded in getting it sponsored. This means that we can give one copy of the Guide to each visitor group. ``` ``` WhilstgainingnewmemberstotheMillteamwesadlylostJohnWoodapastheadofthemaintenanceteam and Trustee who died in December. ``` ``` I am very grateful for all the support that I have received during the year from all members of the Mill's great team. ``` ``` J C Carrington, Chair of Trustees ``` ``` Page 1 ``` ``` Woodbridge Tide Mill Charitable Trust ``` ## **`Report of the Trustees for the Year Ended 31 March 2024`** ``` Thetrusteespresenttheirreportwiththefinancialstatementsof thecharityfortheyearended31 March2024. The trusteeshaveadoptedthe provisionsof AccountingandReportingby Charities:Statementof Recommended Practice applicableto charitiespreparingtheiraccountsin accordancewiththe FinancialReportingStandardapplicablein the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives`** ``` To preserveand protectthe buildingknownas the Tide Mill for the benefitof the publicand primarilythe inhabitants ofWoodbridgeinthecountyofSuffolkasabuildingofhistoricalandarchitecturalinterestandofhistorical and technicalimportance,andtomaintainamuseumofsocialandculturalhistory,retainedfortheeducationof the present and future generationsand to providefacilitiesavailableto the inhabitantsof Woodbridgeand to members of thepublicatlargeforrecreationorotherleisure-timeoccupationintheinterestsof socialwelfarewiththeobject of improving the conditions of life for the persons for whom the facilities are primarily intended. ``` ## **`FINANCIAL REVIEW`** ## **`Financial report`** ``` Netincomingresourcesamountedto£462(2023:£6,675outgoing),andthecharity'sfundshaverisento £122,534. Full detailsof the financialpositionare shown in the accounts.The trusteesare of the opinionthat the charity's assets are available and adequate to fulfil any and all of its obligations. ``` ## **`Investment policy and objectives`** ``` Surplusfundsnotrequiredforworkingpurposesareinvestedininterestbearingaccountswhichare regularly reviewed. ``` ## **`Funds and reserves`** ``` Attheendoftheperiodthecharityhadunrestrictedgeneralfundsof£50,000andarestrictedpreservation repair fundof£72,534.Thetrusteesregularlyreviewtheavailablereserves,andtheleveltakesintoaccount expected monthlyexpenditure,existingcommitmentsandfuturecapitalcommitmentscommensuratewithaGrade1 listed building. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Structure, Governance and Management`** ``` WoodbridgeTideMillCharitableTrustisgovernedbytheconstitutionof28June2019whichcreatedthe charitable incorporated organisation. ``` ``` WoodbridgeTownCouncilisthecustodiantrusteeofthebuildinginaccordancewiththePublicTrusteeAct 1906. Members of the managing committee are the charity trustees as defined within the meaning of the Charities Act 2011. ``` ## **`The Managing Committee`** ``` The governingdocumentprovidesfor the managingcommitteeto be responsiblefor the Tide Millin accordance with theobjectivesandadministrativeclausessetoutinthegoverningdocument.Alltrusteesarevolunteersand receive no remuneration from the charity in pursuance of their duties as trustees. ``` ## **`Risk management`** ``` Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate controlsareinplacetoprovidereasonableassuranceagainstfraudanderror.Thetrusteeshavereviewedthe major riskstothecharity.TheonlyareaofconcernisfuturemajoritemsofmaintenancecostsassociatedwithaGrade 1 listed220yearoldbuildingofthenatureanditsrelatedmachinery.Accordinglythetrusteeshaveestablished a restricted preservation repair fund to allow available monies to be put to one side each year to build a 'sinking fund'. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ## **`Registered Charity number`** ``` 1184163 ``` ``` Page 2 ``` ``` Woodbridge Tide Mill Charitable Trust ``` ## **`Report of the Trustees for the Year Ended 31 March 2024`** ## **`Principal address`** ``` Woodbridge Tide Mill Tide Mill Quay Woodbridge Suffolk IP12 1BY ``` ## **`Trustees`** ``` G E Holdcroft J C Carrington -Chairman P Gillard R Chapman (resigned 6.2.24) Mrs E A De Margary -Treasurer (appointed 25.8.23) I Mckechnie I Reed -Vice Chairman and Honorary Treasurer (resigned 24.8.23) M J Sutton Lady V Jessel Dr A J Barnes (resigned 21.9.23) Councillor C Page (resigned 22.6.23) M Ryan (appointed 29.2.24) I Jacob -Vice Chairman (appointed 20.12.23) Mrs C Peeke (appointed 26.7.23) ``` ## **`Independent Examiner`** ``` M J Mortimer FCA FCCA Knights Lowe Ltd Chartered Accountants Crane Court 302 London Road Ipswich Suffolk IP2 0AJ ``` ``` Approved by order of the board of trustees on 13 June 2024 and signed on its behalf by: ``` ``` J C Carrington - Trustee ``` ``` Page 3 ``` ## **`Independent Examiner's Report to the Trustees of Woodbridge Tide Mill Charitable Trust`** ## **`Independent examiner's report to the trustees of Woodbridge Tide Mill Charitable Trust`** ``` I report to the charitytrustees on my examinationof the accountsof WoodbridgeTide Mill CharitableTrust (the Trust) for the year ended 31 March 2024. ``` ## **`Responsibilities and basis of report`** ``` AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the requirements of the Charities Act 2011 ('the Act'). ``` ``` I reportin respectof my examinationof the Trust'saccountscarriedoutunderSection145 of the Act andin carrying out my examinationI have followedall applicableDirectionsgiven by the CharityCommissionunderSection 145(5)(b) of the Act. ``` ## **`Independent examiner's statement`** ``` I havecompletedmyexamination.I confirmthatnomaterialmattershavecometomyattentioninconnection with the examination giving me cause to believe that in any material respect: ``` `1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or` `2. the accounts do not accord with those records; or` `3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.` ``` Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ``` ``` M J Mortimer FCA FCCA ``` ``` Knights Lowe Ltd Chartered Accountants Crane Court 302 London Road Ipswich IP2 0AJ ``` ``` 24 June 2024 ``` ``` Page 4 ``` ## **`Woodbridge Tide Mill Charitable Trust`** ## **`Statement of Financial Activities`** ## **`for the Year Ended 31 March 2024`** |`Unrestricted`
`funds`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
**`23,791`**
**`Charitable activities`**
`5`
`Operation of Tide Mill`
**`650`**
`Other trading activities`
`3`
**`53,760`**
`Investment income`
`4`
**`1,253`**
`Other income`
**`67`**
**`Total`**
**`79,521`**
**`EXPENDITURE ON`**
`Raising funds`
**`11,715`**
**`Charitable activities`**
`Operation of Tide Mill`
**`67,344`**
**`Total`**
**`79,059`**
**`NET INCOME/(EXPENDITURE)`**
**`462`**
**`Transfers between funds`**
`12`
**`(462)`**
**`Net movement in funds`**
**`-`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`50,000`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`50,000`**|`Restricted`
`funds`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`462`**
**`462`**
**`72,072`**
**`72,534`**|**`2024`**
**`Total`**
**`funds`**
**`£`**
**`23,791`**
**`650`**
**`53,760`**
**`1,253`**
**`67`**
**`79,521`**
**`11,715`**
**`67,344`**
**`79,059`**
**`462`**
**`-`**
**`462`**
**`122,072`**
**`122,534`**|`2023`
`Total`
`funds`
`£`
`17,916`
`5,148`
`49,732`
`230`
`-`
`73,026`
`7,938`
`71,763`
`79,701`
`(6,675)`
`-`
`(6,675)`
`128,747`
`122,072`| |---|---|---|---| ``` The notes form part of these financial statements ``` ``` Page 5 ``` ## **`Woodbridge Tide Mill Charitable Trust`** ## **`Statement of Financial Position`** ## **`31 March 2024`** |`Unrestricted`
`funds`
`Notes`
`£`
**`FIXED ASSETS`**
`Tangible assets`
`8`
**`2,638`**
**`CURRENT ASSETS`**
`Stocks`
`9`
**`1,913`**
`Debtors`
`10`
**`1,576`**
`Cash at bank and in hand`
**`46,663`**
**`50,152`**
**`CREDITORS`**
`Amounts falling due within one year`
`11`
**`(2,790)`**
**`NET CURRENT ASSETS`**
**`47,362`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`50,000`**
**`NET ASSETS`**
**`50,000`**
**`FUNDS`**
`12`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`Restricted`
`funds`
`£`
**`-`**
**`-`**
**`-`**
**`72,534`**
**`72,534`**
**`-`**
**`72,534`**
**`72,534`**
**`72,534`**|**`2024`**
**`Total`**
**`funds`**
**`£`**
**`2,638`**
**`1,913`**
**`1,576`**
**`119,197`**
**`122,686`**
**`(2,790)`**
**`119,896`**
**`122,534`**
**`122,534`**
**`50,000`**
**`72,534`**
**`122,534`**|`2023`
`Total`
`funds`
`£`
`5,718`
`2,135`
`604`
`115,533`
`118,272`
`(1,918)`
`116,354`
`122,072`
`122,072`
`50,000`
`72,072`
`122,072`| |---|---|---|---| ``` The financialstatementswere approvedby the Boardof Trusteesandauthorisedfor issueon 13 June 2024and were signed on its behalf by: ``` ``` J C Carrington - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 6 ``` ``` Woodbridge Tide Mill Charitable Trust ``` ## **`Notes to the Financial Statements for the Year Ended 31 March 2024`** ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsof thecharity,whichis a publicbenefitentityunderFRS 102,havebeenprepared in accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ``` ## **`Income`** ``` All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the use of resources. ``` ## **`Tangible fixed assets`** ``` Depreciationis providedat the followingannualrates in orderto write off each asset over its estimated useful life. ``` ``` Plant and machinery- 15% on reducing balance Fixtures and fittings- 20% on reducing balance Computer equipment- 33% on cost ``` ## **`Stocks`** ``` Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete and slow moving items. ``` ## **`Taxation`** ``` The charity is exempt from tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ``` ``` Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial statements. ``` ``` continued... ``` ``` Page 7 ``` ``` Woodbridge Tide Mill Charitable Trust ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 March 2024`** ## **`2. DONATIONS AND LEGACIES`** |`Donations`
`Gift aid`
`Woodbridge Town Council`
`Subscriptions - friends`
`Hire of Tide Mill`
`Norfolk County Council`
**`3.`**
**`OTHER TRADING ACTIVITIES`**
`Fundraising events`
`Admissions`
`Sales`
**`4.`**
**`INVESTMENT INCOME`**
`Deposit account interest`
**`5.`**
**`INCOME FROM CHARITABLE ACTIVITIES`**
`Activity`
`Government and other`
`grants`
`Operation of Tide Mill`
`Insurance claims`
`Operation of Tide Mill`
**`6.`**
**`TRUSTEES' REMUNERATION AND BENEFITS`**|**`2024`**
**`£`**
**`2,007`**
**`3,827`**
**`8,500`**
**`2,452`**
**`4,005`**
**`3,000`**
**`23,791`**
**`2024`**
**`£`**
**`2`**
**`30,576`**
**`23,182`**
**`53,760`**
**`2024`**
**`£`**
**`1,253`**
**`2024`**
**`£`**
**`650`**
**`-`**
**`650`**|`2023`
`£`
`3,019`
`2,799`
`7,500`
`2,598`
`2,000`
`-`
`17,916`
`2023`
`£`
`(186)`
`29,882`
`20,036`
`49,732`
`2023`
`£`
`230`
`2023`
`£`
`4,495`
`653`
`5,148`| |---|---|---| ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2024norforthe year ended 31 March 2023. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31March2024norfortheyear ended 31 March 2023. ``` ``` continued... ``` ``` Page 8 ``` ``` Woodbridge Tide Mill Charitable Trust ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 March 2024`** ## **`7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |`Unrestricted`
`funds`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`17,916`
**`Charitable activities`**
`Operation of Tide Mill`
`5,148`
`Other trading activities`
`49,732`
`Investment income`
`230`
**`Total`**
`73,026`
**`EXPENDITURE ON`**
`Raising funds`
`7,938`
**`Charitable activities`**
`Operation of Tide Mill`
`68,474`
**`Total`**
`76,412`
**`NET INCOME/(EXPENDITURE)`**
`(3,386)`
**`Transfers between funds`**
`3,386`
**`Net movement in funds`**
`-`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`50,000`
**`TOTAL FUNDS CARRIED FORWARD`**
`50,000`|`Restricted`
`funds`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`3,289`
`3,289`
`(3,289)`
`(3,386)`
`(6,675)`
`78,747`
`72,072`|`Total`
`funds`
`£`
`17,916`
`5,148`
`49,732`
`230`
`73,026`
`7,938`
`71,763`
`79,701`
`(6,675)`
`-`
`(6,675)`
`128,747`
`122,072`| |---|---|---| ``` continued... ``` ``` Page 9 ``` ``` Woodbridge Tide Mill Charitable Trust ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 March 2024`** ## **`8. TANGIBLE FIXED ASSETS`** |`Fixtures`
`Plant and`
`and`
`Computer`
`machinery`
`fittings`
`equipment`

`£`
`£`
`£`
**`COST`**
`At 1 April 2023`
**`151`**
**`2,139`**
**`5,052`**
`Disposals`
**`-`**
**`-`**
**`(548)`**
`Reclassification`
**`-`**
**`(2,000)`**
**`2,000`**
`At 31 March 2024`
**`151`**
**`139`**
**`6,504`**
**`DEPRECIATION`**
`At 1 April 2023`
**`78`**
**`87`**
**`1,459`**
`Charge for year`
**`14`**
**`11`**
**`3,055`**
`Eliminated on disposal`
**`-`**
**`-`**
**`(548)`**
`At 31 March 2024`
**`92`**
**`98`**
**`3,966`**
**`NET BOOK VALUE`**
`At 31 March 2024`
**`59`**
**`41`**
**`2,538`**
`At 31 March 2023`
`73`
`2,052`
`3,593`
**`9.`**
**`STOCKS`**
**`2024`**
**`£`**
`Stocks`
**`1,913`**
**`10.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
**`2024`**
**`£`**
`Trade debtors`
**`1,576`**|`Totals`
`£`
**`7,342`**
**`(548)`**
**`-`**
**`6,794`**
**`1,624`**
**`3,080`**
**`(548)`**
**`4,156`**
**`2,638`**
`5,718`
`2023`
`£`
`2,135`
`2023`
`£`
`604`| |---|---| ``` continued... ``` ``` Page 10 ``` ``` Woodbridge Tide Mill Charitable Trust ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 March 2024`** ## **`11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |`Trade creditors`
`Taxation and social security`
`Other creditors`
**`12.`**
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Preservation repair fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are a`
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
**`Comparatives for movement in funds`**
**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Preservation repair fund`
**`TOTAL FUNDS`**|`At 1.4.23`
`£`
**`50,000`**
**`72,072`**
**`122,072`**
`s follows:`
`At 1.4.22`
`£`
`50,000`
`78,747`
`128,747`|`Net`
`movement`
`in funds`
`£`
**`462`**
**`-`**
**`462`**
`Incoming`
`resources`
`£`
**`79,521`**
**`79,521`**
`Net`
`movement`
`in funds`
`£`
`(3,386)`
`(3,289)`
`(6,675)`|**`2024`**
`2023`
**`£`**
`£`
**`1,353`**
`711`
**`293`**
`224`
**`1,144`**
`983`
**`2,790`**
`1,918`
`Transfers`
`between`
`At`
`funds`
`31.3.24`
`£`
`£`
**`(462)`**
**`50,000`**
**`462`**
**`72,534`**
**`-`**
**`122,534`**
`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
**`(79,059)`**
**`462`**
**`(79,059)`**
**`462`**
`Transfers`
`between`
`At`
`funds`
`31.3.23`
`£`
`£`
`3,386`
`50,000`
`(3,386)`
`72,072`
`-`
`122,072`| |---|---|---|---| ``` continued... ``` ``` Page 11 ``` ``` Woodbridge Tide Mill Charitable Trust ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 March 2024`** ## **`12. MOVEMENT IN FUNDS - continued`** ``` Comparative net movement in funds, included in the above are as follows: ``` ||`Incoming`|`Resources`|`Movement`| |---|---|---|---| ||`resources`|`expended`|`in funds`| ||`£`|`£`|`£`| |**`Unrestricted funds`**|||| |`General fund`|`73,026`|`(76,412)`|`(3,386)`| |**`Restricted funds`**|||| |`Preservation repair fund`|`-`|`(3,289)`|`(3,289)`| |**`TOTAL FUNDS`**|`73,026`|`(79,701)`|`(6,675)`| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Preservation repair fund`
**`TOTAL FUNDS`**|`At 1.4.22`
`£`
`50,000`
`78,747`
`128,747`|`Net`
`movement`
`in funds`
`£`
`(2,924)`
`(3,289)`
`(6,213)`|`Transfers`
`between`
`funds`
`£`
`2,924`
`(2,924)`
`-`|`At`
`31.3.24`
`£`
`50,000`
`72,534`| |---|---|---|---|---| |||||`122,534`| ``` A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above are as follows: ``` ||`Incoming`|`Resources`|`Movement`| |---|---|---|---| ||`resources`|`expended`|`in funds`| ||`£`|`£`|`£`| |**`Unrestricted funds`**|||| |`General fund`|`152,547`|`(155,471)`|`(2,924)`| |**`Restricted funds`**|||| |`Preservation repair fund`|`-`|`(3,289)`|`(3,289)`| |**`TOTAL FUNDS`**|`152,547`|`(158,760)`|`(6,213)`| ``` continued... ``` ``` Page 12 ``` ``` Woodbridge Tide Mill Charitable Trust ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ``` ## **`13. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the year ended 31 March 2024. ``` ``` Page 13 ``` ``` Woodbridge Tide Mill Charitable Trust ``` ## **`Detailed Statement of Financial Activities`** ## **`for the Year Ended 31 March 2024`** |**`for the Year Ended 31`**|**`March 2024`**|| |---|---|---| ||`2024`|`2023`| ||`£`|`£`| |**`INCOME AND ENDOWMENTS`**||| |**`Donations and legacies`**||| |`Donations`|**`2,007`**|`3,019`| |`Gift aid`|**`3,827`**|`2,799`| |`Woodbridge Town Council`|**`8,500`**|`7,500`| |`Subscriptions - friends`|**`2,452`**|`2,598`| |`Hire of Tide Mill`|**`4,005`**|`2,000`| |`Norfolk County Council`|**`3,000`**|`-`| ||**`23,791`**|`17,916`| |**`Other trading activities`**||| |`Fundraising events`|**`2`**|`(186)`| |`Admissions`|**`30,576`**|`29,882`| |`Sales`|**`23,182`**|`20,036`| ||**`53,760`**|`49,732`| |**`Investment income`**||| |`Deposit account interest`|**`1,253`**|`230`| |**`Charitable activities`**||| |`Government and other grants`|**`650`**|`4,495`| |`Insurance claims`|**`-`**|`653`| ||**`650`**|`5,148`| |**`Other income`**||| |`Gain on sale of tangible fixed assets`|**`67`**|`-`| |**`Total incoming resources`**|**`79,521`**|`73,026`| |**`EXPENDITURE`**||| |**`Other trading activities`**||| |`Opening stock`|**`2,135`**|`-`| |`Purchases`|**`9,496`**|`9,546`| |`Packaging`|**`1,997`**|`527`| |`Closing stock`|**`(1,913)`**|`(2,135)`| ||**`11,715`**|`7,938`| |**`Charitable activities`**||| |`Insurance`|**`3,537`**|`3,358`| |`Electricity and water`|**`662`**|`2,337`| |`Carried forward`|**`4,199`**|`5,695`| ``` This page does not form part of the statutory financial statements ``` ``` Page 14 ``` ## **`Woodbridge Tide Mill Charitable Trust`** ## **`Detailed Statement of Financial Activities`** |**`Charitable activities`**
`Brought forward`
`Postage and stationery`
`Advertising`
`Maintenance and cleaning`
`Pest control & extinguishers`
`Wardens`
`Administration officers`
`Accountancy`
`Professional fees`
`Pension cost`
`Telephone`
`Learning & activities`
`Bank charges`
`Wages - Education`
`Curation costs`
`Sundry office expenses`
`Office machine costs`
`Depreciation - plant and machinery`
`Depreciation - fixtures and fittings`
`Depreciation - computer equipment`
`Total resources expended`
**`Net income/(expenditure)`**|**`for the Year Ended 31 March 2024`**
`2024`
`2023`
`£`
`£`
**`4,199`**
`5,695`
**`189`**
`391`
**`1,129`**
`860`
**`12,751`**
`10,660`
**`1,108`**
`1,781`
**`22,014`**
`18,088`
**`9,733`**
`21,816`
**`1,136`**
`964`
**`1,314`**
`164`
**`217`**
`508`
**`652`**
`674`
**`3,452`**
`2,399`
**`2,155`**
`1,744`
**`2,750`**
`4,008`
**`937`**
`298`
**`223`**
`400`
**`304`**
`631`
**`15`**
`13`
**`10`**
`13`
**`3,056`**
`656`
**`67,344`**
`71,763`
**`79,059`**
`79,701`
**`462`**
`(6,675)`| |---|---| ``` This page does not form part of the statutory financial statements ``` ``` Page 15 ```