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2025-03-31-accounts

REGISTERED CHARITY NUMBER: 1184163

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2025
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 2025

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 2025

The year has been one characterised by repair and renewal alongside new initiatives for a digital age.
Twomajorrepairprojectshappenedintheyear.First,thebaseoftheHurstFramewhichismadeupoflarge oak
beamswhichsupporttheMill'smachinery,hadthelowerpartofeachbeamremovedandreplacedby concrete
blocks.Thisisbecausetheincreasingheightoftidesrisksrottingthebeams.Itwasalongprojectwith unexpected
delayscausedby the tidesandwinterweather.The Trusteesare very gratefulfor the workof the millingand bagging
teamsled by CarolinePeeke andIanGraywhoworkedlonghoursto buildflourstockto coverthe lossof production
whilsttherepairtookplace.WearealsogratefultoEastSuffolkCouncilandtheNationalLotteryHeritageFund for
grants to enable this work to take place.
Thesecondrepairwasneededwhenthe5-tonneoakwheelcameoffoneofitssupports.Ittookalongtimefor the
maintenanceteamtodiagnosethecauseanddevelopaplanforrepair- adelicateoperation.Theneedfornew oak
teethandpaddleswasidentifiedas partof therepairproject.TheTrusteesthanktheMaintenanceTeamledby Rick
ChapmanfortheirworkandtheSocietyfortheProtectionofAncientBuildings,MuseumsDevelopmentSouth East
and East SuffolkCouncilfor grantsthat supportedthe repair.Ian Jacob playeda major role in sourcingthe sustainable
oak needed for the new teeth and paddle boards.
Lookingforward,theTrusteeshavea strategyforopeningtheMillto thosewhocannotvisitallthefloorsbecause of
disabilityorwhoaretoofarawaytovisitatall.Wehavebeensuccessfulinmovingthisstrategyforwardwith two
projects.First,we arenowontheBloomburgConnectplatformwhichallows,usinga smartphoneAPP,thepublic to
view the locationand historyof the Mill togetherwith curatedvideosof how the Mill works.We joinmajor museums
from all over the world with this wonderful capability and we hope to develop it further with Bloomburg's help.
The secondproject,supportedby a grantfrom SuffolkCountyCouncil,will createa 3D walk throughthe Mill,floor by
floor, stoppingat key points to see the machinerywork. The video and audio experiencewill be availablefor visitors to
theMilltoviewontabletsaswellastothosewhocannotvisittheMill.Thiswillhelpwithschoolvisits, disabled
visitors and those interested in the Mill's history, water milling and our renewable energy story all over the world.
The Trustees are very gratefulto volunteerSimon Ballardwho has done so much to make these two outreach projects
happen.
The Mill'sflourproductionhas been maintainedthroughoutthe year not onlydespitethe interruptionI have covered
alreadybut also by the need to find a new grainsource.After a long trawl by Ian Jacob a new supplierwas found who
isbasednottoofarawayinSuffolk.Theverdictbyusersofflourproducedfromthenewgrainhasbeen very
favourable.
ThefrontofhouseteamledbySteveMolyneauxhaskepttheMillopenandwelcometovisitorsthroughout the
seasonandit'sgratifyingtoseetheverypositivecommentsleftbyvisitorsofallagesabouttheMillitself and
members of the team they met whilst visiting.
ThisismylastreportasChairofTrusteesaftereightyears.IthasbeenanhonourtobepartoftheMillteamas we
facedthechallengesofCovid,running,maintainingandpreservinga230-year-oldWoodbridgeiconandusing 21st
century digital technology to bring the Mill alive to new audiences.
J C Carrington, Chair of Trustees
Page 1
Woodbridge Tide Mill Charitable Trust

Report of the Trustees for the Year Ended 31 March 2025

Thetrusteespresenttheirreportwiththefinancialstatementsof thecharityfortheyearended31 March2025. 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£6,792(2024: £462incoming),andthecharity'sfundshaverisento £129,326.
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£79,326.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
listed230yearoldbuildingofthenatureanditsrelatedmachinery.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 2025

Principal address

Woodbridge Tide Mill
Tide Mill Quay
Woodbridge
Suffolk
IP12 1BY

Trustees

G E Holdcroft
J C Carrington -Chairman
F J Hale (appointed 30.9.24) (resigned 6.5.25)
P Gillard (resigned 5.8.24)
Mrs E A De Margary -Treasurer (resigned 11.10.24)
I Mckechnie (resigned 1.10.24)
M J Sutton
Lady V Jessel
M Ryan
I Jacob -Vice Chairman
Mrs C Peeke
J Raithatha (appointed 10.1.25)
R Saunders (appointed 26.7.24)

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 ............................................. 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 2025.

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
Date: .............................................
Page 4

Woodbridge Tide Mill Charitable Trust

Statement of Financial Activities

for the Year Ended 31 March 2025

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
21,273
Charitable activities
5
Operation of Tide Mill
-
Other trading activities
3
56,083
Investment income
4
1,480
Other income
-
Total
78,836
EXPENDITURE ON
Raising funds
12,295
Charitable activities
Operation of Tide Mill
59,749
Total
72,044
NET INCOME
6,792
Transfers between funds
12
(6,792)
Net movement in funds
-
RECONCILIATION OF FUNDS
Total funds brought forward
50,000
TOTAL FUNDS CARRIED FORWARD
50,000
Restricted
funds
£
20,683
-
-
-
-
20,683
-
20,683
20,683
-
6,792
6,792
72,534
79,326
2025
Total
funds
£
41,956
-
56,083
1,480
-
99,519
12,295
80,432
92,727
6,792
-
6,792
122,534
129,326
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
The notes form part of these financial statements
Page 5

Woodbridge Tide Mill Charitable Trust

Statement of Financial Position

31 March 2025

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
8
1,256
CURRENT ASSETS
Stocks
9
2,730
Debtors
10
2,642
Cash at bank and in hand
52,659
58,031
CREDITORS
Amounts falling due within one year
11
(9,287)
NET CURRENT ASSETS
48,744
TOTAL ASSETS LESS CURRENT LIABILITIES
50,000
NET ASSETS
50,000
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS
Restricted
funds
£
-
-
-
80,370
80,370
(1,044)
79,326
79,326
79,326
2025
Total
funds
£
1,256
2,730
2,642
133,029
138,401
(10,331)
128,070
129,326
129,326
50,000
79,326
129,326
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
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and 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 2025

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 2025

2.
DONATIONS AND LEGACIES
Donations
Gift aid
Grants
Woodbridge Town Council
Subscriptions - friends
Hire of Tide Mill
Norfolk County Council
Advertising
Grants received, included in the above, are as follows:
Other grants
3.
OTHER TRADING ACTIVITIES
Fundraising events
Admissions
Sales
4.
INVESTMENT INCOME
Deposit account interest
2025
£
3,629
3,406
20,683
5,250
3,593
2,595
-
2,800
41,956
2025
£
20,683
2025
£
50
33,852
22,181
56,083
2025
£
1,480
2024
£
2,007
3,827
-
8,500
2,452
4,005
3,000
-
23,791
2024
£
-
2024
£
2
30,576
23,182
53,760
2024
£
1,253
continued...
Page 8
Woodbridge Tide Mill Charitable Trust

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. INCOME FROM CHARITABLE ACTIVITIES

2025 2024
Activity £ £
Government and other
grants Operation of Tide Mill - 650

6. TRUSTEES' REMUNERATION AND BENEFITS

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2025norforthe year
ended 31 March 2024.

Trustees' expenses

Therewerenotrustees'expensespaidfortheyearended31March2025norfortheyear ended
31 March 2024.

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
23,791
Charitable activities
Operation of Tide Mill
650
Other trading activities
53,760
Investment income
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
462
Transfers between funds
(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
Total
funds
£
23,791
650
53,760
1,253
67
79,521
11,715
67,344
79,059
462
-
462
122,072
122,534
continued...
Page 9
Woodbridge Tide Mill Charitable Trust

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

8. TANGIBLE FIXED ASSETS

Fixtures
Plant and
and
Computer
machinery
fittings
equipment
£
£
£
COST
At 1 April 2024
151
139
6,504
Additions
-
-
220
At 31 March 2025
151
139
6,724
DEPRECIATION
At 1 April 2024
92
98
3,966
Charge for year
9
8
1,585
At 31 March 2025
101
106
5,551
NET BOOK VALUE
At 31 March 2025
50
33
1,173
At 31 March 2024
59
41
2,538
9.
STOCKS
2025
£
Stocks
2,730
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Trade debtors
2,642
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Trade creditors
7,627
Taxation and social security
249
Other creditors
2,455
10,331
Totals
£
6,794
220
7,014
4,156
1,602
5,758
1,256
2,638
2024
£
1,913
2024
£
1,576
2024
£
1,353
293
1,144
2,790
continued...
Page 10
Woodbridge Tide Mill Charitable Trust

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

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
Restricted funds
Renovation project
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Preservation repair fund
TOTAL FUNDS
At 1.4.24
£
50,000
72,534
122,534
s follows:
At 1.4.23
£
50,000
72,072
122,072
Net
movement
in funds
£
6,792
-
6,792
Incoming
resources
£
78,836
20,683
99,519
Net
movement
in funds
£
462
-
462
Transfers
between
At
funds
31.3.25
£
£
(6,792)
50,000
6,792
79,326
-
129,326
Resources
Movement
expended
in funds
£
£
(72,044)
6,792
(20,683)
-
(92,727)
6,792
Transfers
between
At
funds
31.3.24
£
£
(462)
50,000
462
72,534
-
122,534
continued...
Page 11
Woodbridge Tide Mill Charitable Trust

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

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 79,521 (79,059) 462
TOTAL FUNDS 79,521 (79,059) 462
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 1.4.23
£
50,000
72,072
122,072
Net
movement
in funds
£
7,254
-
7,254
Transfers
between
funds
£
(7,254)
7,254
-
At
31.3.25
£
50,000
79,326
129,326
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 158,357 (151,103) 7,254
Restricted funds
Renovation project 20,683 (20,683) -
TOTAL FUNDS 179,040 (171,786) 7,254
continued...
Page 12
Woodbridge Tide Mill Charitable Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.
Page 13
Woodbridge Tide Mill Charitable Trust

Detailed Statement of Financial Activities

for the Year Ended 31 March 2025

for the Year Ended 31 March 2025
2025 2024
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 3,629 2,007
Gift aid 3,406 3,827
Grants 20,683 -
Woodbridge Town Council 5,250 8,500
Subscriptions - friends 3,593 2,452
Hire of Tide Mill 2,595 4,005
Norfolk County Council - 3,000
Advertising 2,800 -
41,956 23,791
Other trading activities
Fundraising events 50 2
Admissions 33,852 30,576
Sales 22,181 23,182
56,083 53,760
Investment income
Deposit account interest 1,480 1,253
Charitable activities
Government and other grants - 650
Other income
Gain on sale of tangible fixed assets - 67
Total incoming resources 99,519 79,521
EXPENDITURE
Other trading activities
Opening stock 1,913 2,135
Purchases 12,343 9,496
Packaging 769 1,997
Closing stock (2,730) (1,913)
12,295 11,715
Charitable activities
Insurance 3,355 3,537
Electricity and water 3,305 662
Postage and stationery 108 189
Carried forward 6,768 4,388
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
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
for the Year Ended 31 March 2025
2025
2024
£
£
6,768
4,388
2,358
1,129
32,308
12,751
2,120
1,108
23,539
22,014
6,038
9,733
1,140
1,136
356
1,314
55
217
715
652
1,339
3,452
573
2,155
-
2,750
153
937
1,215
223
153
304
9
15
8
10
1,585
3,056
80,432
67,344
92,727
79,059
6,792
462
for the Year Ended 31 March 2025
2025
2024
£
£
6,768
4,388
2,358
1,129
32,308
12,751
2,120
1,108
23,539
22,014
6,038
9,733
1,140
1,136
356
1,314
55
217
715
652
1,339
3,452
573
2,155
-
2,750
153
937
1,215
223
153
304
9
15
8
10
1,585
3,056
80,432
67,344
92,727
79,059
6,792
462
67,344
79,059
462
This page does not form part of the statutory financial statements
Page 15