```
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;
```
- `a. Unforeseen emergencies such as a major building repair bill.`
- `b. Unforeseen deficits in day to day operating revenues - for example caused by unplanned closure of buildings.`
```
Further the Reserved funds could be required for;
```
- `c. A future major asset purchase or project that requires some level of matched funding.`
- `d. Funding short term deficits in a cash budget - for example while waiting for a funding grant.`
```
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
```