REGISTERED COMPANY NUMBER: 01089324 (England and Wales)
REGISTERED CHARITY NUMBER: 265212
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2023
for
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Contents of the Financial Statements for the Year Ended 31 December 2023
|
Page |
Report of the Trustees |
1 to 4 |
Independent Examiner's Report |
5 |
Statement of Financial Activities |
6 |
Balance Sheet |
7 to 8 |
Notes to the Financial Statements |
9 to 19 |
Detailed Statement of Financial Activities |
20 to 21 |
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Report of the Trustees for the Year Ended 31 December 2023
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31December2023.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).
TheCharityisacharitablecompanylimitedbyguaranteeandisgovernedbyaMemorandumandArticles of
Associationwhichwerelastamendedon10June2014.Itsobjectsaretofurtherthepreservation,in appropriate
settingsforthebenefitofthenation,ofbuildingsandothersuchstructuresorlandofspecialbeautyor special
historic or architectural interest.
Each directorof the Trust undertakes,as a member of the Trust, to contributeto the assets of the Trust such amounts
as may be required, not exceeding one pound. Otherwise the directors have no interest in the company.
OBJECTIVES AND ACTIVITIES
Public benefit
The Directorsconfirmthat they have referredto the Commission'sgeneralguidanceon PublicBenefit when reviewing
the Charity's aims and objectives and in formulating future plans.
STRATEGIC REPORT
Financial review
Annual Review and Forward Plans
Thepost-pandemicrecoveryisprovingslow:visitornumbersandincomehavenotyetreturnedto pre-pandemic
levels.Theaboveinflationarycostsofbuildingandmaintenance,combinedwithadifficultfundraisingclimate are
worrying,thoughourbuildingsareinprettygoodshapeatthemoment.Thetimingofthediscoveryof deathwatch
beetleintheWatermillwasfortuitous,aswewereabletoreplacetheaffectedtimbersduringplanned exterior
maintenance.Therottedtimberswerecausedbywateringressthrougha crackedtile.As a resultannual inspections
by drone of all buildings will take place.
TheSizewellC applicationtofloodlandalongsidePakenhamcontinuestocauseconcern,thoughtheintervention of
Jo Churchill MP has at least brought EDF to the negotiating table.
The Trust continuesto work alongsideSAVE to rescue a number of stationsin East Angliafrom dereliction.The railway
operatorfinallyerectedatinroofandcladdingtothesidesofBrandonStationtopreventfurtherdecay,though the
extend of the scaffolding now makes access to the building almost impossible.
It was decidedto changethe Trust'snameto HistoricSuffolk,whichis less of a mouthfulthanSBPT andbringsit into
linewithHistoricNorfolkandHistoricEngland.TheTrustalsoamalgamatedwiththeSuffolkArchitectural Heritage
Trust, whose capital was transferred to HS, thus bolstering our reserves.
Inspiteoftheunstableinternationalandeconomicandpoliticalclimate,theTrust'sfinancesremainstrong,and our
stalwartvolunteerscontinueto manageourbuildingsin a most professionalway. Altogetherthe Trustis in very good
shape
Grants etc
The SuffolkBuildingPreservationTrusts is more gratefulto the organisationsfor their kind contributions,during 2023,
to various projects undertaken by the Trust. Refer to note 2 further information of the organisations.
Investment policy and objectives
It is the policyof the charityto holdsurplusunrestrictedfundson depositwith the CharitiesOfficialInvestment Fund,
as thesemaybe neededat relativelyshortnoticeforurgentrepairsandmaintenanceto LittleHall,Pakenham Water
Mill and Thelnetham Windmill.
Page 1
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Report of the Trustees for the Year Ended 31 December 2023
STRATEGIC REPORT Financial review
Reserves policy
TheCharityplanstoreserve£150,000ofunrestrictedfundstomitigatethefinancialimpactofpossiblerisks to
maintaining the charity's objectives. The risks are perceived as;
Further the Reserved funds could be required for;
TheReservesPolicywillbereviewedbytheCharity'sTrusteeswhennecessary,butatleastonceayearatthe last
Trustees' meeting in the calendar year.
ThefundswillbeheldcollectivelyintheBankaccountsoftheTrustanditsconstituentbuilding.Thelevelsheld in
each account will be agreed as part of the review process.
The charity has reserves of £266,968 (2022 £212,076) freely available to spend on any of the charty's purposes.
Page 2
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Report of the Trustees for the Year Ended 31 December 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
TheBoardofDirectorsoftheCharitynormallymeetsfourtimesayear.Itsmembersareselectedbytheboard by
referencetotheirparticularsuitabilitytooneorotheraspectofthecharity'swork.Threeseparate property
managementcommitteesalsoexist,oneforLittleHall,oneforPakenhamWaterMillandtheotherfor Thelnetham
Windmill.TheBoardofDirectorsapprovesannualbudgetsforthesethreepropertiesandalsoreviewsthe Charity's
finances at its regular meetings.
Charitylawrequiresthedirectorstopreparefinancialstatementsforeachfinancialyearwhichgiveatrueand fair
viewofthestateofaffairsoftheTrustandofthesurplusordeficitoftheTrustforthatperiod.Inpreparing those
financial statements, the Directors have:
-
Selected suitable accounting policies and then applied them consistently;
-
made judgements and estimates that are reasonable and prudent;
-
stated whether applicable accounting standards have been followed, subject to any material departures
-
disclosed and explained in the financial statements; and
-
prepared the financial statements on the going concern basis.
TheDirectorshaveoverallresponsibilityforensuringthattheCharityhasappropriatesystemsofcontrols financial
andotherwise.Theyarealsoresponsibleforkeepingproperaccountingrecords,whichdisclosewith reasonable
accuracyatanytimethefinancialpositionoftheCharityandenablethemtoensurethatthefinancial statements
complywithexternalrequirements.TheyarealsoresponsibleforsafeguardingassetsoftheCharityandhence for
takingreasonablestepsforthepreventionanddetectionoffraudandotherirregularitiesandtoprovide reasonable
assurance that:
-
the Charity is operating efficiently and effectively;
-
the assets are safeguarded against unauthorised use or disposition;
-
proper records are maintained and financial information used within the charity or for publication is reliable;
-
the Charity complies with relevant laws and regulations.
Thesystemsofinternalcontrolaredesignedtoprovidereasonable,butnotabsolute,assuranceagainst material
misstatement or loss.
Asamatterofroutine,theboardkeepsunderreviewanyriskstowhichtheCharityissubjectandbelieves its
significantnumberofvolunteerhelpersarewellpositionedtobringevolvingriskstoitsattentionsoasto enable
mitigating action to be taken where necessary. An annual risk assessment was carried out during the year.
ThereportofthedirectorshasbeenpreparedinaccordancewiththespecialprovisionsofPart15ofthe Companies
Act 2006 relating to small companies.
By Order of the Board
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01089324 (England and Wales)
Registered Charity number
265212
Registered office
Little Hall
Market Place
Lavenham
Suffolk
CO10 9QZ
Page 3
Historic Suffolk Ltd (Formerly Suffolk Building Preservation Trust Limited)
Report of the Trustees for the Year Ended 31 December 2023
Trustees
B V Aket
P J R P Hart
J Knight
M J Lightfoot
J W Norman (resigned 13.11.23)
G D Panton
R S Proctor
Dr G R Smith
M A Sutherill
Ms M Lesser (appointed 13.11.23)
Independent Examiner
James Knights
Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR
Reportofthetrustees,incorporatingastrategicreport,approvedbyorderoftheboardoftrustees,asthe company
directors, on 4 July 2024 and signed on the board's behalf by:
R S Proctor - Trustee
Page 4
Independent Examiner's Report to the Trustees of Historic Suffolk Ltd
Independent examiner's report to the trustees of Historic Suffolk Ltd ('the Company')
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 December 2023.
Responsibilities and basis of report
As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe 2006
Actandareeligibleforindependentexamination,I reportinrespectof my examinationof yourcharity'saccounts as
carriedoutunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
James Knights
The Institute of Chartered Accountants in England and Wales
Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR
4 July 2024
Page 5
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation Trust Limited)
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2023
Notes
INCOME AND ENDOWMENTS FROM
Donations, gifts and grants
2
Charitable activities
5
Pakenham Water Mill
General
Museum and mill receipts
3
Investment income
4
Total
EXPENDITURE ON
Fundraising and marketing
6
Direct charitable expenditure
7
Little Hall
Pakenham Water Mill
Thelnetham Windmill
General
Total
Net gains/(losses) on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
funds
£
48,205
8,400
3,000
73,940
4,996
138,541
11,288
15,373
21,210
3,840
86,482
138,193
2,006
2,354
2,630,471
2,632,825 |
Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
56,676
56,676 |
2023
Total
funds
£
48,205
8,400
3,000
73,940
4,996
138,541
11,288
15,373
21,210
3,840
86,482
138,193
2,006
2,354
2,687,147
2,689,501 |
2022
Total
funds
£
44,023
8,400
4,000
61,612
1,119
119,154
3,037
27,076
27,475
5,396
11,771
74,755
(686)
43,713
2,643,434
2,687,147 |
|
|
|
|
|
The notes form part of these financial statements
Page 6
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation Trust Limited)
Balance Sheet
31 December 2023
Notes
FIXED ASSETS
Tangible assets
13
Investments
14
CURRENT ASSETS
Stocks
15
Debtors
16
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
17
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
18
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Unrestricted
funds
£
2,315,359
31,320
2,346,679
7,682
14,201
266,968
288,851
(2,705)
286,146
2,632,825
2,632,825 |
Restricted
funds
£
-
-
-
-
-
56,676
56,676
-
56,676
56,676
56,676 |
2023
Total
funds
£
2,315,359
31,320
2,346,679
7,682
14,201
323,644
345,527
(2,705)
342,822
2,689,501
2,689,501
2,632,825
56,676
2,689,501 |
2022
Total
funds
£
2,317,619
14,314
2,331,933
7,484
1,250
348,866
357,600
(2,386)
355,214
2,687,147
2,687,147
2,630,471
56,676
2,687,147 |
|
|
|
|
|
The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 31 December 2023.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Balance Sheet - continued
31 December 2023
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable companies
subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon4July2024and were
signed on its behalf by:
P J R P Hart - Trustee
The notes form part of these financial statements
Page 8
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Notes to the Financial Statements for the Year Ended 31 December 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
CompaniesAct2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention, with
theexceptionofinvestmentswhichareincludedatmarketvalue,asmodifiedbytherevaluationof certain
assets.
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
Nodepreciationis providedinrespectoffreeholdproperty.Thepropertiesaremaintainedsuchthat residual
valueisequivalenttovaluationandanydepreciationchargewouldbeimmaterial.Attherequestof the
MuseumsandGalleriesCommission,thecontentsofLittleHallareshownatanilvalue.Additionsare fully
depreciatedintheyearofpurchase.Depreciationonothercontentsandequipmentisprovidedat20% per
annum.
Stocks
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete 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
Designated funds
Other funds listed under unrestricted funds are designated by the Trustees for the following purposes:
Pakenham Water Mill |
External redecoration |
Trust |
Work relating to acquisition |
Little Hall |
Quinquennial report work |
Thelnetham Windmill |
Improvements/ maintenance projects |
Restricted funds
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
continued...
Page 9
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
1. ACCOUNTING POLICIES - continued
Fund accounting
There funds are named in accordance with their restriction:
Pakenham Water Mill
Little Hall
Thelnetham Windmill
2. DONATIONS, GIFTS AND GRANTS
Gifts
Grants
Grants received, included in the above, are as follows:
Marsh Christian Trust
R Mann Charitable Trust
Foulerton Charitable Trust
Ganzoni Charitable Trust
Irving Memorial Trust
Scarfe Trust
Fitton Charitable Trsut
Alfred Williams Charitable Trust
Lord Belstead Charitable Trust
Ian Askew Charitable Trust
Michael Marks Charitable Trust
Phillips Charitable Trust
D C Moncrieff Charitable Trust
Aurelia Charitable Trust
Repainting Grant
Williams Charitable Trust
LMC Charitable Trust
Pilgrim Trust
Will Charitable Trust
Swire Charitable Trust |
2023
£
12,033
36,172
48,205
2023
£
600
1,968
-
-
2,000
-
564
-
-
-
-
-
-
5,640
1,760
5,640
2,000
5,000
1,000
10,000
36,172 |
2022
£
20,473
23,550 |
|
|
44,023 |
|
|
2022
£
500
1,000
5,000
2,000
1,000
500
300
3,000
1,000
1,000
5,000
2,500
750
-
-
-
-
-
-
- |
|
|
23,550 |
continued...
Page 10
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
3. MUSEUM AND MILL RECEIPTS
Shop income
4.
INVESTMENT INCOME
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Rent receivable
Pakenham Water Mill
Rent receivable
General
6.
FUNDRAISING AND MARKETING
Raising donations and legacies
Marketing
Fundraising
Other trading activities
Opening stock
Closing stock
Aggregate amounts |
2023
£
73,940
2023
£
4,996
2023
£
8,400
3,000
11,400
2023
£
1,162
10,323
11,485
2023
£
7,484
(7,681)
(197)
11,288 |
2022
£
61,612
2022
£
1,119
2022
£
8,400
4,000
12,400
2022
£
573
3,241
3,814
2022
£
6,707
(7,484)
(777)
3,037 |
|
|
|
continued...
Page 11
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
7. CHARITABLE ACTIVITIES COSTS
Little Hall
Pakenham Water Mill
Thelnetham Windmill
General
SUPPORT COSTS
Little Hall
Thelnetham Windmill
General
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets |
Direct
Costs
£
12,528
21,210
3,768
83,819
121,325 |
Support
costs (see
note 8)
Totals
£
£
2,845
15,373
-
21,210
72
3,840
2,663
86,482
5,580
126,905
Management
£
2,845
72
2,663
5,580
2023
2022
£
£
2,260
2,824 |
|
|
|
8. SUPPORT COSTS
9. NET INCOME/(EXPENDITURE)
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees'remunerationor other benefitsfor the year ended 31 December 2023 nor for the year
ended 31 December 2022.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31December2023norfortheyear ended
31 December 2022.
continued...
Page 12
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
11. STAFF COSTS
Wages and salaries
The average monthly number of employees during the year was as follows:
Directors
Part time staff
No employees received emoluments in excess of £60,000. |
2023
£
5,420
5,420
2023
9
2
11 |
2022
£
3,509
3,509
2022
9
2
11 |
|
|
|
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations, gifts and grants
Charitable activities
Pakenham Water Mill
General
Museum and mill receipts
Investment income
Total
EXPENDITURE ON
Fundraising and marketing
Direct charitable expenditure
Little Hall
Pakenham Water Mill
Thelnetham Windmill
General
Total
Net gains/(losses) on investments
NET INCOME |
Unrestricted
funds
£
43,858
8,400
4,000
61,612
1,119
118,989
3,037
27,076
27,475
5,396
11,771
74,755
(686)
43,548 |
Restricted
funds
£
165
-
-
-
-
165
-
-
-
-
-
-
-
165 |
Total
funds
£
44,023
8,400
4,000
61,612
1,119
119,154
3,037
27,076
27,475
5,396
11,771
74,755
(686)
43,713 |
|
|
|
|
continued...
Page 13
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation Trust Limited)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
- |
continued |
|
|
|
|
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
13.
TANGIBLE FIXED ASSETS
COST OR VALUATION
At 1 January 2023 and 31 December 2023
DEPRECIATION
At 1 January 2023
Charge for year
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
Cost or valuation at 31 December 2023 is represented by:
Valuation in 2017
Cost |
|
Unrestricted
funds
£
2,586,923
2,630,471
Freehold
property
£
2,306,306
-
-
-
2,306,306
2,306,306
Freehold
property
£
1,259,154
1,047,152
2,306,306 |
|
Restricted
funds
£
56,511
56,676
Fixtures
and
fittings
£
56,254
44,941
2,260
47,201
9,053
11,313
Fixtures
and
fittings
£
-
56,254
56,254 |
|
Total
funds
£
2,643,434 |
|
|
|
|
|
|
2,687,147 |
|
|
|
|
|
|
Totals
£
2,362,560
44,941
2,260
47,201
2,315,359
2,317,619
Totals
£
1,259,154
1,103,406
2,362,560 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
If freehold property had not been revalued it would have been included at the following historical cost:
Cost
2023 |
2022 |
|
£ |
£ |
|
1,047,152 |
|
- |
All three propertieswere valuedon 30 May 2017 by J C CassonFRICS, an independentvalueras definedin the
RICS Valuation and Professional Standards 2014.
continued...
Page 14
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
13. TANGIBLE FIXED ASSETS - continued
AttherequestoftheAreaMuseumService,thefollowingClause3swasaddedtotheMemorandum and
Articles of Association at the Annual General Meeting in 1990:
"Topreserveintactanycontentssuchasfurniture,paintings,objectsandanyotherexhibits historically
associated with the Trust's individual properties, to buy or acquire further associated items."
14. FIXED ASSET INVESTMENTS
14. |
FIXED ASSET INVESTMENTS |
|
|
|
|
|
Listed |
|
|
|
investments |
|
|
|
£ |
|
MARKET VALUE |
|
|
|
At 1 January 2023 |
|
14,314 |
|
Additions |
|
15,000 |
|
Revaluations |
|
2,006 |
|
At 31 December 2023 |
|
31,320 |
|
NET BOOK VALUE |
|
|
|
At 31 December 2023 |
|
31,320 |
|
At 31 December 2022 |
|
14,314 |
|
There were no investment assets outside the UK. |
|
|
|
Cost or valuation at 31 December 2023 is represented by: |
|
|
|
|
|
Listed |
|
|
|
investments |
|
|
|
£ |
|
Valuation in 2022 |
|
(686) |
|
Valuation in 2023 |
|
2,006 |
|
Cost |
|
30,000 |
|
|
|
31,320 |
15. |
STOCKS |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Stocks |
7,682 |
7,484 |
continued...
Page 15
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation Trust Limited)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments and accrued income
17.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals and deferred income
18.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Pakenham Water Mill
Trust
Little Hall
Thelnetham Windmill
General fund revaluation reserve
Restricted funds
Pakenham Water Mill
Little Hall
Thelnetham windmill
TOTAL FUNDS |
At 1.1.23
£
1,311,317
12,000
15,000
25,000
8,000
1,259,154
2,630,471
44,000
10,916
1,760
56,676
2,687,147 |
2023
£
14,201
2023
£
319
2,386
2,705
Net
movement
in funds
£
348
-
2,006
-
-
-
2,354
-
-
-
-
2,354 |
2022
£
1,250
2022
£
-
2,386
2,386
At
31.12.23
£
1,311,665
12,000
17,006
25,000
8,000
1,259,154 |
|
2022
£
1,250 |
|
|
|
|
|
2022
£
-
2,386 |
|
|
|
|
|
2,386 |
|
|
|
2,632,825
44,000
10,916
1,760 |
|
|
|
|
|
56,676 |
|
|
|
|
|
2,689,501 |
|
|
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Trust
TOTAL FUNDS |
Incoming
resources
£
138,541
-
138,541
138,541 |
Resources
expended
£
(138,193)
-
(138,193)
(138,193) |
Gains and
Movement
losses
in funds
£
£
-
348
2,006
2,006
2,006
2,354
2,006
2,354 |
Gains and
Movement
losses
in funds
£
£
-
348
2,006
2,006
2,006
2,354
2,006
2,354 |
|
|
|
|
2,354 |
|
|
|
|
2,354 |
continued...
Page 16
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
18. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
Pakenham Water Mill
Trust
Little Hall
Thelnetham Windmill
General fund revaluation reserve
Restricted funds
Pakenham Water Mill
Little Hall
Thelnetham windmill
TOTAL FUNDS |
At 1.1.22
£
1,267,769
12,000
15,000
25,000
8,000
1,259,154
2,586,923
44,000
10,751
1,760
56,511
2,643,434 |
Net
movement
in funds
£
43,548
-
-
-
-
-
43,548
-
165
-
165
43,713 |
At
31.12.22
£
1,311,317
12,000
15,000
25,000
8,000
1,259,154 |
|
|
|
2,630,471
44,000
10,916
1,760 |
|
|
|
56,676 |
|
|
|
2,687,147 |
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Little Hall
TOTAL FUNDS |
Incoming
resources
£
118,989
165
119,154 |
Resources
expended
£
(74,755)
-
(74,755) |
Gains and
Movement
losses
in funds
£
£
(686)
43,548
-
165
(686)
43,713 |
Gains and
Movement
losses
in funds
£
£
(686)
43,548
-
165
(686)
43,713 |
|
|
|
|
43,713 |
continued...
Page 17
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
18. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Pakenham Water Mill
Trust
Little Hall
Thelnetham Windmill
General fund revaluation reserve
Restricted funds
Pakenham Water Mill
Little Hall
Thelnetham windmill
TOTAL FUNDS |
At 1.1.22
£
1,267,769
12,000
15,000
25,000
8,000
1,259,154
2,586,923
44,000
10,751
1,760
56,511
2,643,434 |
Net
movement
in funds
£
43,896
-
2,006
-
-
-
45,902
-
165
-
165
46,067 |
At
31.12.23
£
1,311,665
12,000
17,006
25,000
8,000
1,259,154 |
|
|
|
2,632,825
44,000
10,916
1,760 |
|
|
|
56,676 |
|
|
|
2,689,501 |
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
Unrestricted funds
General fund
Trust
Restricted funds
Little Hall
TOTAL FUNDS |
Incoming
resources
£
257,530
-
257,530
165
257,695 |
Resources
expended
£
(212,948)
-
(212,948)
-
(212,948) |
Gains and
Movement
losses
in funds
£
£
(686)
43,896
2,006
2,006
1,320
45,902
-
165
1,320
46,067 |
Gains and
Movement
losses
in funds
£
£
(686)
43,896
2,006
2,006
1,320
45,902
-
165
1,320
46,067 |
|
|
|
|
45,902
165 |
|
|
|
|
46,067 |
Revaluation Reserve
The general fund revaluation reserve was created by the revaluation of the freehold properties.
All threepropertieswere valuedon 30 May2017by J CassonFRISCS,an independentvalueras definedin the
RICS Valuation and Professional Standards 2014.
Thevaluationwasbasedonanopenmarketvalue,takingintoaccountthehistoricnatureofthe properties.
together with the cost of additions to date.
continued...
Page 18
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
18. MOVEMENT IN FUNDS - continued
Thelnetham Windmill was given to the Trust in 2013, the directors valued it as a heritage asset at £25,000.
LittleHallanditscontentswereofferedasagift,unconditionally,bySurreyCountyCouncilin1974to the
SuffolkPreservationSocietywhichdecidedthatHistoricSuffolkLtd,newlysetupin1973,wouldbe the
appropriate body to hold and administer the gift.
19. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
Page 19
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation
Trust Limited)
Detailed Statement of Financial Activities
for the Year Ended 31 December 2023
INCOME AND ENDOWMENTS
Donations, gifts and grants
Gifts
Grants
Museum and mill receipts
Shop income
Investment income
Deposit account interest
Charitable activities
Rent receivable
Total incoming resources
EXPENDITURE
Raising donations and legacies
Marketing
Fundraising
Other trading activities
Opening stock
Closing stock
Direct charitable expenditure
Wages
Insurance
Light and heat
Milling costs etc
Repairs and renewals
Depreciation of tangible fixed assets
Support costs
Management
Administration expenses
Carried forward |
2023
£
12,033
36,172
48,205
73,940
4,996
11,400
138,541
1,162
10,323
11,485
7,484
(7,681)
(197)
5,420
11,712
7,773
15,081
79,079
2,260
121,325
3,921
3,921 |
2022
£
20,473
23,550
44,023
61,612
1,119
12,400
119,154
573
3,241
3,814
6,707
(7,484)
(777)
3,509
9,962
5,709
14,183
24,831
2,824
61,018
6,028
6,028 |
|
|
|
This page does not form part of the statutory financial statements
Page 20
Historic Suffolk Ltd
(Formerly Suffolk Building Preservation Trust Limited)
Management
Brought forward
Legal and professional fees
Independent examiner
Total resources expended
Net income before gains and losses
Realised recognised gains and losses
Net gains/(losses) on investments
Net income |
Detailed Statement of Financial Activities
for the Year Ended 31 December 2023 |
2023
£
3,921
-
1,659
5,580
138,193
348
2,006
2,354 |
2022
£
6,028
3,352
1,320
10,700
74,755
44,399
(686)
43,713 |
|
|
|
|
This page does not form part of the statutory financial statements
Page 21