REGISTERED CHARITY NUMBER: 1200315
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE PERIOD FROM 8 SEPTEMBER 2022 TO 31 DECEMBER 2022
FOR
THE ALFORD WINDMILL TRUST
Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA
THE ALFORD WINDMILL TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD FROM 8 SEPTEMBER 2022 TO 31 DECEMBER 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 11 |
| Detailed Statement of Financial Activities | 12 to 13 |
THE ALFORD WINDMILL TRUST
REPORT OF THE TRUSTEES FOR THE PERIOD FROM 8 SEPTEMBER 2022 TO 31 DECEMBER 2022
The trustees present their report with the financial statements of the charity for the period from 8 September 2022 to 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
For the public benefit, the advancement of education and the preservation, protection and maintenance of the Alford “five-sailed” windmill in particular but not exclusively by:
-
Conserving and maintaining the restored mill as a working mill, open to the public, and
-
Developing and facility to attract visitors and maintaining the mill site as an educational facility to attract visitors and develop their awareness and understanding of the history their awareness and understanding of the history of the mill and the historic occupation of millwrighting.
ACHIEVEMENTS AND PERFORMANCE
This has been a period of steady progress.
During the period the Alford Windmill Trust achieved charitable status with the objects of “for the public benefit, the advancement of education and the preservation, protection and maintenance of the Alford “five-sailed” windmill in particular but not exclusively by: Conserving and maintaining the restored mill as a working mill, open to the public, and developing and facility to attract visitors and maintaining the mill site as an educational facility to attract visitors and develop their awareness and understanding of the history their awareness and understanding of the history of the mill and the historic occupation of millwrighting.
The Trust has worked throughout the period in partnership with Lincolnshire County Council (LCC), East Lindsey District Council (ELDC), Alford Town Council (ATC), and the local community to achieve the full repair of the windmill and associated buildings.
LCC, as the current owners of the site, have committed to the full repair of the windmill and are in the process of completing a specification of the work for tendering purposes.
ELDC, with the Trust and ATC, led an application to the government for £1.1m of Levelling Up Funds which was successful shortly after the financial year end. These funds will be used to refurbish the Miller’s Cottage as a holiday let, build a new café with a bakery and storage for the nationally significant Thomson Millwright Collection and turn the sail shed into a museum.
Also, in the summer, the Trust re-opened the sail shed as a café with mixed success. A substantial amount of grant funds were used to tidy the grounds and re-equip the café before it could be re-opened. Once open, the café was successful in raising the profile of the project in the locality and rebuilding its trade to a respectable level after being closed for several years. The problems of opening late in the summer were exacerbated by the difficult in recruiting experienced staff and these issues combined for the café to operate at a loss.
In 2023 the Trust will look to re-open the café again for the summer months and to progress with the expenditure of the Levelling Up Funds with our partners.
Page 1
THE ALFORD WINDMILL TRUST
REPORT OF THE TRUSTEES FOR THE PERIOD FROM 8 SEPTEMBER 2022 TO 31 DECEMBER 2022
RESERVES
The Alford Windmill Trust reviews and monitors the level of reserves held on a regular basis. Reserves at the year end were £11,102.
RESPONSIBILITIES
The Board of Trustees are responsible for ensuring that the Trust’s resources are managed responsibly, and that we act in the best interests of the Trust. The Board has responsibility for approving and monitoring the implementation of this Policy.
LAWS AND REGULATIONS
As a registered charity, the Trust is required to meet relevant legal and regulatory requirements and has a duty to apply charitable funds within a reasonable period of time in pursuing its objectives.
This Policy sets out the framework the Trust has in place to confirm the level of reserves the Trustees have determined is appropriate for the Trust, and draws upon guidance such as the Charities Commission's CC19.
FUTURE PLANS
ELDC, with the Trust and ATC, led an application to the government for £1.1m of Levelling Up Funds which was successful shortly after the financial year end. These funds will be used to refurbish the Millers Cottage as a holiday let, build a new café with a bakery and storage for the national significant Thomson Millwright Collection and turn the sail shed into a museum.
In 2023 the Trust will look to re-open the café again for the summer months and to progress with the expenditure of the Levelling Up Funds with our partners.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The organisation is a Charitable Incorporated Organisation (CIO) registered on 8 September 2022.
The organisation is governed by a constitution.
The members of the Executive Committee are the Trustees for the purpose of charity law and are collectively referred to as the Trustees.
The Trustees have had due regards to guidance distributed by the Charity Commission on public benefit.
The Trustees who served during the period and up to the date of this report are set out elsewhere in this report.
The Trustees are put up for re-election every year at the Annual General Meeting. Any casual vacancies can be filled by co-option.
The Trustees are involved in the day to day management of the charity. Executive Committee meetings are held monthly through the year.
Page 2
THE ALFORD WINDMILL TRUST
REPORT OF THE TRUSTEES FOR THE PERIOD FROM 8 SEPTEMBER 2022 TO 31 DECEMBER 2022
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 1200315
Registered office
The Alford Windmill Trust 32 East Street Alford Lincolnshire LN13 9EH
Trustees
D F Bell (Appointed 8 September 2022) G Allan (Appointed 8 September 2022) D P Robinson (Appointed 8 September 2022) K Pryke (Appointed 8 September 2022)
Independent Examiner
Mrs Nicola Michelle Lenton F.C.C.A. Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 4 May 2023 and signed on the board's behalf by:
D F Bell Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ALFORD WINDMILL TRUST
Independent examiner's report to the trustees of The Alford Windmill Trust ('the Company')
I report to the charity trustees on my examination of the accounts of The Alford Windmill Trust (the trust) for the period from 8 September 2022 to 31 December 2022.
Responsibilities and basis of report
As the charity's trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I can confirm that I am qualified to undertake the examination because I am a registered member of F.C.C.A. which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements concerning the form and content of the 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mrs Nicola Michelle Lenton F.C.C.A. Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA
Date: 4 May 2023
Page 4
THE ALFORD WINDMILL TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD FROM 8 SEPTEMBER 2022 TO 31 DECEMBER 2022
| Notes INCOME FROM Donations and Legacies 2 Charitable Activities Charitable activities 3 Total EXPENDITURE ON Charitable Activities Charitable activities 4 NET INCOME Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Fund £ 33,309 13,752 47,061 35,809 11,252 11,252 - 11,252 |
Restricted Fund £ - - - - - - - - |
Period from 8.9.22 to 31.12.22 Total Funds £ 33,309 13,752 47,061 35,809 11,252 11,252 - 11,252 |
|---|---|---|---|
Page 5
THE ALFORD WINDMILL TRUST
BALANCE SHEET 31 DECEMBER 2022
| Notes FIXED ASSETS Tangible Assets 9 CURRENT ASSETS Debtors 10 Cash at bank and in hand Total CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted Funds Restricted Funds TOTAL FUNDS |
Unrestricted Fund £ 10,272 1,175 692 12,139 887 11,252 11,252 11,252 |
Restricted Fund £ - - - - - - - - |
2022 Total Funds £ 10,272 1,175 692 |
|---|---|---|---|
| 12,139 | |||
| 887 | |||
| 11,252 | |||
| 11,252 | |||
| 11,252 | |||
| 11,252 - |
|||
| 11,252 |
The financial statements were approved and authorised for issue by the Board of Trustees and authorised for issue on 4 May 2023 and were signed on its behalf by:
D F Bell Trustee
Page 6
THE ALFORD WINDMILL TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD FROM 8 SEPTEMBER 2022 TO 31 DECEMBER 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and Fittings
- 25% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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THE ALFORD WINDMILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD FROM 8 SEPTEMBER 2022 TO 31 DECEMBER 2022
2. DONATIONS AND LEGACIES
| Grants Other income Donations – Mayors Fund |
Period from 8.9.22 to 31.12.22 £ 31,969 840 500 |
|---|---|
| 33,309 |
Grants received, included in the above, are as follows:
| Alford Congregational Church East Lindsey District Council Alford Town Council Alford HUB NFU |
Period from 8.9.22 to 31.12.22 £ 10,000 10,000 8,779 3,190 |
|---|---|
| 31,969 |
3. INCOME FROM CHARITABLE ACTIVITIES
| Period from | |
|---|---|
| 8.9.22 to | |
| 31.12.22 | |
| £ | |
| Café | 13,752 |
4. CHARITABLE ACTIVITIES COSTS
| Direct | Support | ||
|---|---|---|---|
| Costs | costs (see | Totals | |
| note 5) | |||
| £ | £ | £ | |
| Charitable Activities | 19,606 | 16,203 | 35,809 |
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THE ALFORD WINDMILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD FROM 8 SEPTEMBER 2022 TO 31 DECEMBER 2022
5. SUPPORT COSTS
| Management £ Charitable Activities 5,555 NET INCOME Net income is stated after charging: Depreciation – owned assets |
Finance £ 30 |
Governance costs £ 10,618 |
Totals £ 16,203 |
|---|---|---|---|
| Period from 8.9.22 to 31.12.22 £ 685 |
6. NET INCOME
Net income is stated after charging:
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31 December 2022.
8. STAFF COSTS
| Wages and Salaries Social Security Costs The average monthly number of employees during the period was as follows: Staff |
Period from 8.9.22 to 31.12.22 £ 12,476 540 |
|---|---|
| 13,016 | |
| Period from 8.9.22 to 31.12.22 £ 6 |
The average monthly number of employees during the period was as follows:
Page 9
THE ALFORD WINDMILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD FROM 8 SEPTEMBER 2022 TO 31 DECEMBER 2022
| 9. TANGIBLE FIXED ASSETS COST At 8 September 2022 Additions At 31 December 2022 DEPRECIATION At 8 September 2022 Charge for year At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 8 September 2022 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments and accrued income |
Fixtures and Fittings £ - 10,957 10,957 - 685 685 10,272 - |
Totals £ - 10,957 |
|---|---|---|
| 10,957 | ||
| - 685 |
||
| 685 | ||
| 10,272 | ||
| - | ||
| Period from 8.9.22 to 31.12.22 £ 887 288 |
||
| 1,175 |
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Accrued expenses |
Period from 8.9.22 to 31.12.22 £ 167 720 |
|---|---|
| 887 |
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THE ALFORD WINDMILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD FROM 8 SEPTEMBER 2022 TO 31 DECEMBER 2022
12. MOVEMENT IN FUNDS
| At 8.9.22 £ Unrestricted funds General fund - TOTAL FUNDS - Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 47,061 TOTAL FUNDS 47,061 |
Net movement in funds £ 11,252 11,252 Resources expended £ 35,809 35,809 |
At 31.12.22 £ 11,252 |
|---|---|---|
| 11,252 | ||
| Movement in funds £ 11,252 |
||
| 11,252 |
.
Page 11
THE ALFORD WINDMILL TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD FROM 8 SEPTEMBER 2022 TO 31 DECEMBER 2022
| INCOME AND ENDOWMENTS Donations and Legacies Grants Other income Donations – Mayor’s Fund Charitable activities Cafe Total incoming resources |
Period from 8.9.22 to 31.12.22 £ 31,969 840 500 |
|---|---|
| 33,309 | |
| 13,752 | |
| 47,061 |
This page does not form part of the statutory financial statements
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THE ALFORD WINDMILL TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD FROM 8 SEPTEMBER 2022 TO 31 DECEMBER 2022
| EXPENDITURE Charitable activities Wages Social security Purchases Room Hire Pest Control Card machine rental Cleaning Waste removal Support Costs Management Insurance Light and heat Telephone Advertising Sundries Repairs and Renewals Depreciation of tangible assets Finance Bank charges Governance costs Accountancy Legal and professional fees Total resources expended Total incoming resources Total resources expended Net income |
Period from 8.9.22 to 31.12.22 £ 12,476 540 5,400 95 461 48 250 336 |
|---|---|
| 19,606 576 1,216 487 120 98 2,373 685 |
|
| 5,555 30 |
|
| 30 720 9,898 |
|
| 10,618 | |
| 35,809 | |
| 47,061 35,809 |
|
| 11,252 |
This page does not form part of the statutory financial statements
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