REGISTERED CIIAIUTY BER. 12(KI315 REPORT OF THE TRUSTEES AI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR THE ALFORD WINDMILL TRUST tkxier & Sharpe Chartered Certified Accountants The Old Vicaryage Church Close Boston Lincolnshire PE216NA
THE ALFORD WINDMtLL TRUST CONfENTS OF THE FINANCIAL STATEMEwrs FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report of the Trustees Independent Enminer'5 Report Statement of Fitta4¢ial Adivities Balance Sheet Notes to the Financial Statements 7 to 11 Detailed Statement of Financial Aetivities 12 to 13
THE ALFORD WINDMILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustee5 present their report with the financial ststements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accountin(y and Reporting by Charities: Statement of RecornTnended Prdctice applicable to chariiies preparing their accounts in accordance with the Financial Reporting Standard appli¢able in the UK and R¢publi¢ of Ireland {FRS 102) (effective l January 2019). ORJECTIVES AND ACTIvrrIES For the publi¢ b¢n¢fiL th¢ advancement of education and the preservation. protection and maintenance of the Alford'five-sailed" windmill in particular but not exclusivelv b!= Conserving and maintsining the restored mill as a wotking mill. open to the public: and Developing and facility. to attract Visltors and Tt]aintaiTting the mill site as an educational facility to attra visitors and develop their awareness and understsnding of the history th¢ir awar¢ness and understanding of the history of the mill and the historic occupation of millwrighting. AcHVEMENTS AND PERFORMANCE At th¢ beginning of the vear it was confirnied thai the application to the government for Levelling Up FuTtds by East Lindsey District CouncTI for the Lin¢olnshir¢ Wolds Culiure and Heritsge Projeci has been successful. This included £l.Im for the Alford Wtndmill. This is in addition to the £700.000 previously allocated by Lincolnshire County Council for the refurbtshment of the windmill itself. Together this means the capital funds are availabl¢ for the fijll repair of the windmill into working order, the conversion of the Millers Cottage into a holiday leL the conversion of the Sail Shed cafe into the Millwrights Museum and the building of new tea rooms. During the rest of the year the Trust has worked wtth its paters. Alford Town Council, East Lindsey District Council and Lincolnshtre Countv Council: to progress the project. The complexity of working with several partners and the requirements imposed by the windmill being a Grade l * lisied buildin& has M&t progress has b¢¢n slow. Onc¢ again. the Sail Shed Cafe was opened for the summer months and again stalfing was a problem. As a consequence, the period and number of davs open were reduced on the previous year. The future for Alford Winthnill Trust is bright with the capital funds in place. In 2024 it is anticipated planning pennission will k gained for the proje¢t and work will be placed out to tender. The complexity and type of worl particularly the specialist work on the windmill, mean it is unlikely the project will be complete before 2026. Page I
THE ALFORD WINDl¥ItLL TRUST REPORT OF THE TRUSTEES FOR THE YEAR EIWED 31 DECEMBER 2023 RESERVES The Alford Windmill Trust reviews and moniiors the level of reserves held on a regular basis. Reserves at the year end were £8,846. (2022 £11252). RESPONSIBtLrrIES Th¢ Board of Truste¢s are responsible for ensuring that the Trust's resource5 are managed responsibly, and that we act in the best interests of thc Trust. The Board has $&K)nsIbilIty for approvino and monitoring the implementation of this Policy. LAWS AND REGULATIONS As a registered charity, the Trnst is required to meet relevant legal and regulatory requirements and has a duty. to apply charitable funds within a reasonable Feriod of time in pursuing its objextTV¢5. This Policy sets out the fram¢work the Trust has in place to ¢onfmn the level of reserves the Trnstees hav¢ deterniined is appropriate for the TrusL and draws un guidance such as the Chartties Commission's CCI9. FUTURE PLANS The future for Alford Windmill Trust is bright with the capitsl funds in place. In 2024 it is anticipated planning perniission will be oained for the projeci and work will be placed out to tender. The complexity and type of worl particularly the srttialist work on th¢ windmill. mean it is tu)likely th¢ project will be Complete before 2026. STRUCTURE, GOVERNANCE AND Lth'AGEME The organisation is a Charitsble Incorporated Organisaiion (CIO) registered on 8 September 2022. The organisation is govern by a constitution. The members of the Executive Committee are the TeeS for the purpose of charity law and are collectively referd to as the Trustee5. The Tnjstees have had due regards guidance distributed by the Charity Commission on public benefit. The Tnlee$ 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 reolection ev¢ry year at the Annual General Meeting. Any casual vacancies can be fill¢d by cfroption. The Trnstees are involved in the day to da). management of the Charity. Executive Committee meetings are held monthly through the year. Page 2
THE ALFORD W'INDMILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR EIWED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1200J15 Registered office The Alford Windmill Tn )2 Eau Street Alford Lincolnshi LN13 9EH Trustees DFBell G Allan D P Robinson K Pryke JWJSmith (ffsign¢d 10 March 2024) {resigned 15 July 202)) (appointed 21 December 202)) IndepeDdent Examiller Mrs Nicola Michelle Lenton F.C.C.A. Dexter &. Sharpe Chartered Certified Accountants The Old Vicardge Church Close Boston Lincolnshire PE216NA Report of th¢ trust¢es, in¢orpornting a strategic pOrL approved by order of the board of trustees. as the company directors, on 2024 and signed on th¢ board's b¢half by: DFBell Trustee Page 3
INDEPENDE ExAMINR's REPORT TO THE TRUSTEES OF THE ALFORD MThDTrItLL TRUST Independent eMiner'S report to the trnstees of The Alford Windmill Trnst ('tbe Company,) I rewrt to the charity trustees on my examination of the aOUnts of The Alford Winthnill Trnst (the trust) for the year ended 31 December 2023. Respottsibilities and basis of report As the charity's tnJstr¢s of the Trnst you are restxynsible forthe prepardtion ofthe accounts in accordance with the requirements of the Charities Act 2011 ("the Act-). I report in respect of my examination of the TTUSt's accounts as carried out under Section 145 of the Charities Act 2011 {'the 2011 ACV). In carrying out mv examination I have followed the Diff¢tions given by the Chartty Commission under Section 145(5) (b) of the 2011 ACL Independent examiller's statemeDt I can confirm that l am qualified to undertake the exavnination because l am a registered member of F.C.C.A. which is one of the listed ldIeS. I have completed my examination. I confum that no matters have come to my attention in connection with the examination giving me cause to believe: accounting record5 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 a¢¢ounts do not ¢OTnply with the accounting requireme1 Concerning the forni and content of the accounts set out in the Charities (Accounts and Rep)rts) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered &$ pan of an independent ¢xaTnination- or the accounts have not ken Prepared in acc<)rdanee with the methods and principles of the Ststement of Recommended Practice foraccounting and porting 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 a¢ross no other marters in Connection with the examination to which attention should be drawn in this report in order to enable a proper understanding ofthe xeeounts to be reached. Mrs Nicola Michelle I£nton F.C.C.A. Dexter & Sharpe Chartered Cenified Accountants The Old Vicarage Church Close Boston Lincolnshire PE216NA Date.. 2024 Page 4
THE ALFOR WINDMlll TRUST STATEME[ OF FINANCIAL AcrIvrrIES FOR THE YEAR ENDED 31 DECEMBER 2023 Period from 8.9.?2 10 31.1222 Restrirted FyDd Totsl 2023 Total Fund INCOME FROM Donations and LegacÉes 33.309 ChAritsble Activlties Charithble activities 9934 9.934 Tot*1 16ffj19 16ffi19 47.061 EXPENDITURE OY Charitable Activities CharÉtsble activities 19025 19,025 i5,809 NET EXPEIYDITUREI(INCOME) {2A06) (2.406) Net rnovemeltt in funds (2A116) (2,406) 11252 RECONCILIATION OF FUNDS Total funds brought forward 11352 I lJ52 TOTAL FUNDS CARRIED FORWARD &846
THE ALFORD WINDMtLL TRUST BALANCE SHEET 31 DECEMBER 2023 Rtstrided Fund Notes Fnttd 2011 2022 FIXED ASSETS Tansible Assets 93 8393 10272 CURRENT ASSETS Debtors C&sh at bank and in hand io 637 lJ17 637 1017 1,175 69? Totsl 10.447 10.447 CREDITORS Amounts fallin8 due within oneye4r 1.601 887 NET CURRENT ASSETS TOTAL ASSETS LESS CURREP4T LIABILITJES NET ASSETS FUNDS 12 Unrestricted Funds Restricted Funds 1252 TOTAL FUNDS The financial statements were approved and authorised for issue by the Boord of Trustees and authorised for issue on 2024 and were signed on its behalf by: DFBell Trustee
THE ALFORD WINDMILL TRUST NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Basis of preparing tbe fillatt¢ial gtatemellts The financial statements of the charit, 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 Prdctice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable Tn th¢ UK and Republic of Ireland {FRS 102) (effective I January 2019),, Financial Reportints Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements hav¢ been pr¢par¢d under the historical cost convention. Jncome All income is recoonised in the Statement of Financial Activities once the charity has ¢ntitl¢m¢nt to the funds, it is probable that the income will be received and the amount can be measured reliablv. Expenditure LiabilÈties are recognised as expenditure )0 asthere isa legal orconstructive obligation COTnmitting the charity to that expenditure. it is probable that a trsfer of e¢onomi¢ b¢n¢fits will b¢ r¢quir¢d in settlemeT]t and the amount of the obligation ¢an be meaSUd reliabl. Expenditure is accounted for on an accruals basis and has been classlfied 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 b&sis consistent with the use of reUrCeS. Tangible fixed &8sets Depreciation is provided at the following annual Mes in Order to write off each asset over its estiTnated useful life. Fixtures and Fittings 250/0 on reducing balance Stocks Stocks ar¢ valu¢d at th¢ low¢r of cost and net r¢alisabl¢ valuE after making du¢ allowance for obsolete and slow moving items. Taxation The Charity is exempt from corporation tax on its charitable activities. Fund ac¢ounting Unrestricted funds can be used in accordanc¢ with the charitable objective5 at the discretion of the trustees. Pag¢ 7
NOTES TO THE FtYANCIAL STATEMENfs- contillued FOR THE YEAR ENDED 31 DECEMBER 2023 DONATIONS AND LEGACIES Period from 8.9.22 to 31.12.22 2023 Grants Other Income Donation5- Mayors Fund 6,080 605 31,969 840 500 6,685 33,309 Grants receive& in¢lud¢d in the alK)ve. are as follows: Period from 8.9.22 to 31.12.22 2023 G Marsh Alford Congregational Church Eaa Linds¢y Distri¢t Council Alford ToMryJ Council Alford HUB NFU 1.080 i 0,000 i 0,000 8.779 5,000 6,080 31,969 Period from 8.9.22 to 31.12.22 2023 Café 9934 13.752 CHAiiifABLE ACTivrfiES COSTS Dired Costs Support eosts (See Dote S) Total 2023 Total 2022 Charitable Activiiies 10231 8.794 19,025 Page 8
THE ALFORD WINDllLL TRUST NOTES TO THE FINANCLIL STATEMENTS- contiDved FOR THE YEAR ENDED 31 DECEMBER 2023 SUPPORT COSTS Governallce costs Totsl 2023 Totsl 2022 Mallagement Finxnee Charitsbl¢ Activities 7ffj55 139 8,794 16,203 NET INCOME Net income is stated after chargtng: Perii)d from 8.9.22 to Jl.12.22 2023 Depreciation- owned assets 2,765 685 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other nefits for the year ended 31 December 202) (2022 £Nil). Trustees, expenses TheT¢ were no ttwste¢s' ¢xp¢ns¢s paid for the period ended 31 December 2023 (2022 £Nil). STAFF COSTS Period from 8.9.22 to )1.12.22 2023 Wages and Salaries Social Security Costs 5,078 219 12,476 540 5297 13,016 The average monthly number of employees during the vear was as follows: Period from 8.9.22 to 31.12.22 2023 Staff Page 9
E 0RD WINDMILL TRUST NOTES TO ThE FINANCIAL STATEMENfs- eontinued FOR THE YEAR ENDED 31 DECE.MBER 2023 TANGIBLE FIXED ASSETS Fixtures and Fittillgs Totals COST At l January 2023 Additions 10,957 10,957 786 At 31 December 2023 11,743 11,743 DEPRECIATION Ai l January 2023 Charg¢ for year 2,765 2,765 At 31 December 2023 3.450 3,450 NET BOOK VALUE At 31 December 2023 8293 8293 At 31 DecemFKr 2022 10272 10272 10. DEBTORS: AMOUNfs FALLING DUE wrrHIN ONE YEAR Period from 8.9.22 to 31.12.22 2023 Other debtors Prepayments and accrued income 367 270 887 288 At 31 Dernr 2023 637 1,175 11. CREDrroRS: AMOUNtS FALLING DUE wrtHtN ONE YEAR Period from 8.9.22 t() 31.12.22 2023 Trdde creditors Accrued expenses 827 774 167 720 At 31 December 2023 1,601 887 Page 10
NOTES TO THE FINANCIAL STATEMENTS - ¢oDtinued FOR THE YEAR ENDED 31 DECEMBER 2023 12. MOVEMENT IN FUNDS Net movement in lldS At 1.123 At 31.12.23 Unrestrieted funds General fvnd 11252 (2,406) 8046 TOTAL FUNDS 11252 (2.406) 8,846 Net movement in fund% included in the above are as follows: Incoming Movement ID fuDds expended UDrestricted fvnds Generdl fund 16,619 19,025 (2,406) TOTAL FUNDS 16,619 19,025 {2,406) Page 11
THE ALFORD WINDllttLL TRUST DETAILED STATEMENf OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Period from 8.9.22 to 31.12.22 2023 INCOME AND EI¥DOWMENrs DonatioDS and irfaeies Grants Other income Donations- Mayor"s Fund 31,969 840 500 6,685 33,309 Charitsble activities Cafe 9,934 13,752 Total incoming resources 16,619 47,061 This page diKs not forni part of th¢ statutory financial S¢m¢llts Page 12
THE ALFORD WINDMILL TRUST DETAILED sTATE1SENt OF FtNANCIAL ACTIVITIES FOR THE YEAR EIWED 31 DECEMBER 2023 Period from 8.9.22 to 31.12.22 2023 Charitable activities Wages Social security Purch&ses Room Hire Pesf Control Card machine rental Cleaning Wa¢ removal 5.078 219 4.101 12.476 540 5.400 95 461 48 250 336 238 307 10231 19,606 Support Costs Management Wat¢r & Rates Insuran¢¢ Light and heat Telephone Advertising Sundrt¢S R¢pairs and Renewals Depreciation of tangible assets 107 828 I7 1269 138 526 185 2,765 576 1216 487 120 98 2.373 685 7,655 5,555 Finance Bank charges 139 30 139 30 Governgnce eosts A¢¢ountan¢y Legal and professional ftts 774 226 720 9,898 10,618 Total resources expended 19.025 35,809 Total incoming resources Total resour¢es expended 16,619 19,025 47.061 35.809 Net (expenditureyÈncome (2.406) 11252 This page does not forni part of the stattrtory financial sratements Page 13