**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:
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 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
4. 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.
Page 7
## **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**|
Page 8
## **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**|
Page 10
## **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
Page 12
## **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
Page 13