wILL￿m JOHN MILLS cO￿AGEs TR
FINANCIAL STATEMENTS
YEAR ENDED 5 APRIL 2022
Contents
Relerenc¢ and admitti8tsatioD d¢tsih
Truktee8 report
Indep¢n(knt ¢xamin¢r'$
Stst¢rn¢nt of fin8n¢ial a¢¢ivil?
Balance sh¢¢t
Not¢s to th¢ fitw]ciaJ 5tatcments
7-10

JOHN Mtus COThAGFS TRUST
TION DET
Reglstertd chxrlty nwttber
275488
Ch•rity'l prlm¢lpal addr¢
Mjlb St
Si Day
Rthth
IRI6 5LL
Tru5trt•
Mrs E WilsoD . aAtr
MT5 S Burley- Vi¢¢ Chair
Mr S Edwards
Mr K Goldswolthy
Mr C Wilson
Mrs D Birr¢ll (Atp)iti¢e4J 6 2022)
cler￿ to the
Ms C Ftt¢man
Mrs K AthertoD
Ind¢pendent ¢YAmlther
Mrs M Hut¢hin8S
Aspth Waite South West
21 Bampkn Streei
Tiv¢rttyi
Devon EX16 6AA
BAnkeri
CAF Bank L
Kings Mill
We51 MA]Im
K¢DI ME19 4TA
Barclays BaDk pl¢
Tnuo
Cornw￿1
Virwn MoD¢y
Jubilce Hous¢
C￿[Orth
Newcwde upon T
NEI 4XS
United Tn¥t Battk
80 Haymarkel
SWIY 4TE
Hampshire Tru# Bank
55 Bishopsgate
tmdon EC2N 3AS
Solleitors
3 L4n¢
S¢ A￿￿tell
Cornwall P125 4AX

Ib¢ Tr￿8tee$ pffsent th¢jrre1￿rt 8Dd the financial stateu*rts of the ¢lwity forthe )rJr 5 April 2022. The ￿￿teeS have
adopted the provt$ions of the S¢8tanent of Recommcnded PrnctiLY {SORP)"Accounting and Rewkrtsng byChanttes- (FRS
1021 in preporing th¢ atthual re￿rt and of th¢ charity.
owEcrivLs AND ACTIVITIFS
Swllmary of the objects of the charlty vt in its governing doeuD￿nt
To PTVVtdc aeeommodation for ttrU[￿tI0tt by deS￿ing rthr wns bein8 r¢sideDts of. or forll*r reBidents of, thc forn
District of Kerrier LD the County of Comw4]1.
Summary of the maln *etlvhlu In rekndon to th¢•e objet
Providcd 42 uni$ ofaccomTr*thion throughoth thc)ur.
The ttwtees have had te8aTd to the ajarity c(rtllmis￿ gui￿¢ on publi¢ benefit aDd b¢li¢ve this is &thieved via the
charitys objtttivN and aGtiviti&8.
ACHIEVEMEwfs AND PERFORMANCE
Summary of the maln *ehlevements of the eharlty durln% the ye4r
Thc work of th¢ Tn￿ to keep its propcrty estate ￿]1-maIntain￿l as well as takitt8 oppoJThmities to impTOVC and upgrade
fAciliti¢8 where and when opportunitie¥ arise continues UDaba*41 In particulaT. th￿t havc bern a llumbcr of major projects
thai were undertakett.
During i survey of the ventilation system servin8 the tttW8aiows of Mill$ Gardw it was di$￿ve￿￿J that fiaws in th¢ origitt
desi8n was Ic8diTrg to widespr¢ad failur¢ acro￿ the 8ra¢e4rL kn a ¢YK*wUe￿. a mlliorpiett of work w?8 n￿¢8$]￿ted to brin8
li up to & fully fvn¢tionin8 starHlaTd.
Of a similar 08ftw< the Trll8t di$¢overed thit post.WW2 buildthg F￿actICe8 iovolviti8 thc use of cem¢nt for render and
pointing had beett cau5in8 Stgnifi¢ani detenlvatton of the facades ofthe two granitr-built rows of fonxer miThin8 COtt&ges. To
addre5$ this issue. listed planniTrg consthlt Was 80u8bt to repl*e the ¢emrDt with a linx-b&se4 mNtCTial whtch is much more
Syll2pathetic io th¢ 8rN¢tures but Si￿1ficanttyl￿tsrC ¢￿y. H•vi08 I¢￿'¢yed the n¢¥¢gS4ry ¢4)D5eni a *kyeBrprO￿C of
Works h&8 be¢n scheduled.
A third sigtiifieant project i#volvcd the re-mofin8 of thT¢e proput]L￿ which $h8tt41 the same roof linc. This rcquircd
ppropriat¢ li81cd planning consent aTh4 involvd thc removal ofold asbesLOS tilcs 4nd theirrep1￿cment with nabjral slat¢. In
addition, Ihe projccl saw the rebuilding of a si8nificani pmion of the roof Stnth￿ luKd￿n8 a hotch-potsh of minoT WOTkB
that had been undertak¢n ID decades 8one by.
AS is the case ¢v¢ry year, acr¢￿ the Trusts bousitig sto¢i thue WLYe prop¢rts'¢s tha¢ rcquired rcfurbi$bJY*ttL some modc81 and
others nK)re sub8thtttsaL r¢lo¢4*d either to other proputiL% ortts a highcr place. In tofai, seven housc5 wcre
furbished during the course of the year and an eighth benefitt£d from rdncw kitchcn. Thes¢ wcrc, ofcourse. in adth.tion to
ongoing maintenanc¢ thnwgh¢)ut ail 42 t
Towards the end of the yeat, a probkm caused by sU￿]da)ce relat&1 to old miTK WOTknn85 msnif¢sted itsdfwithin the
boundari¢s of hvo propertEes. The movement W&8 motsitorcd. prOf￿10n8] ¢xplorntory ex*m1￿0￿4 und&tskth ond an
insuran¢e ¢laim Submitted to 8tt•Ki tti thc matlcr &$ a matterof sonJ¢ urgcncy.
AS Catt be s¢¢n, the last 12 months hLS Se￿ & sub5tsDtial volume of a¢tiVity. SOTrKthing which h&$ beu irtcrcasing stradily
overrecent years. To meet this dcmaD& a thjrd clerk w&8 on ￿￿￿[d5 thc cnd of the talemdar Jrar.
FINANCIAL REVIEW
Net expenditwe for the yEar frKfore revatvation) £6298 &s CornrAr￿ to tn¢on* of £25.278 for the previous ycw.
Although thcrc h&$ been att incr¢8SC PTVFtrty rcpaiTS and improvett*nts, th¢ ovffall TrKrew reneLts th¢ in¢rn5¢ in rcnts
Tcceivable following the rewsion of the weeklymainiet)ance tontributinTr
Brlef of the chfirity'¥ policy on reserves
£50000 held to covcr UDforeseen repaits. Balallce bcid toprovith rnote sutsble for ourle55 able resId￿ts 8nd to
increasc hou5in8 Stock.

OHN MtLLS COTTAGES TRUST
THE Tru
STRUCTURQ GOVERNANCE AND MANAGEMENT
Type of governing docwnetti
How the chan.ly is COTthitutul
stee S¢]￿tIon Tnetl
Tntst
App)inted byexistits8 Tn15
Trllstees. consldergtK*ll of tisk5
The Inistee5 have exwnitted th¢ major 5tratw business and op¢rationAI rL6ks wkn"¢h the tri￿ aDd ¢4)nfirm that ￿tern8
have been e8tsblisbed to le&w thos¢ ri5kJ.
Rel*tlonshlp between ehiiity *nd rel*trd p*rtk¥
The trustees of this tru51 ar¢ also th¢ sam¢ Is those foT W J Mills GrantFu￿1 IclMritynumb¢r l 120627).
TRUSTEES RESPONSIBILITIES
The trustCCS 8r¢ responsiblc for prepariti8 the Truste¢s' Ann￿￿ Rq￿rt and th¢ finan¢i818ts*m¢nts ID ￿COrd￿Ce with
applicabl¢ law aod United Kingdom Acrounling stand￿￿8 (iJnit¢d Kingth)m G￿er1]lY Accwl Atcounting Pr8Cti¢¢l.
Law applicable to cbariii¢s in & WaJ¢8 requilts the ¢nwtccs to preparc fmknci81 ststements for cach fiDanci8J year
which give a and fair view of the of L(fair8 of the cbawity and of the iD¢oming resourG￿ l￿d applicNtion or￿80url¢8
of thc chwity for that period. Yn prcpry th¢sc fin￿Cial 5tstem¢nis, the tnjstets u¢ r¢y4uifftI to:
• s¢IKI suit&bl¢ accounting p)lici&8 then 8pply th¢m ¢0rygiqtendy,
observe the rndhods and t￿rtipleS of th¢ CharJ"iie5 SORP 2015 (FRS 102):
' tll8ke jud8emvni$ aThl csiimatss thBt are re&wnthle and prudenl
stato whether applicabl¢ aecourtiin8 Standards h8ve been follow&i wbjecl to azby
m8teri￿ d¢partur¢s discl(bs¢d and uplained ID the si*ieiiieDts;
pr¢part th¢ fin8nci•l Sts¢emcnts on the go1tt8c0nc￿ buil unlem li ii in&wrrynate TO
prnsume that the cb8n.ty will ¢ontitiU¢ ID op¢ratioAI.
The tr￿*¢$ are responsible f¢x keeping gccountin8 fE¢ord8 th81 di5elose wrlh Teason•ble ac¢wxy ai any lime the finuncial
position ofthe charity and cn8ble thm to ensurc that the financi#l s￿tel￿nts comply with the Charitits 2011. Thc Charity
(Accounts RepoTLS) Regulauott5 21KIII ind the P￿viSIonS of th¢ tru51 d¢ed. Th¢y ar¢ dso ttsponsibl¢ for swfe8uardin8 th¢
S5¢ts of th¢ charity and heTK4 for taking r¢&8onabl¢ step5 for the pmcntion and d¢twtion of ftaud other irreuularitiC8.
£6/.•A].%ts4. and Si8D•J on theirbelwlf by.
This rtport WAS wov¢d by the board on..
A Wllgon
Cbalr

TO THE TR
STEES OP WILLIAM JOHN MILLS CO'I"IAG&S ThUST
I report to the ¢harity tnLStX5 ¢)n rnyexami￿ of th¢ ¥touDts of tbc cFATityfor the Itar ¢￿j&1 5 April 2022 which are Bet
out oll pages 5 to 10.
R¢spon$ibilities and bask Of reptsrt
A8 the Ch￿Ity'S tnJ8tee8 you are reS￿￿￿bI¢ fOrth¢pffpthti￿ of the in with th¢ rrquircmcnts of the
Charities A¢t 2011 I'thc Act.).
I report in respect of my examI￿tiOn of the charity's accounts carried undcrsection 145 of th¢ A¢t in canying out my
examination I havc followed all the applicable Directions wvcn by the Charity Commission under section 145(5Xb) of th¢
Ad.
IndepeDdtDt ¢ximln¢Vi *t*temeDt
I have completsd my exwDination. I confirn that Do mfrterisl mattys hav¢ c4)WC to my atlcntion in connection with th¢
examillation giving me caus¢ to t¢li¢v¢ that ill atty ￿￿trIal respecL
accountin8 r¢¢ords were not kcpt in resp￿( of thechaTity ss Ttquir•J by S¢aiott 130 of the ACL or
thc accounts do not accord with those r￿. or
I have no eonceJn$ and b4v¢ ¢ome no other mattu& in c0llDeLti￿ with th¢ eXoD)I￿.0ll to which ￿lIott should be
drawn irt this ryrt in ordcr to en8bl¢ 8 ptw ￿nd￿￿￿ll8 ofthe xcounts to be rexhcd.
Mr$ M Hut¢hln81
Aspen Walte South West
21 Strn¢t
Tlverton
Devnn EX16 6AA
Date:

wttLIAM JOHN MILLS co￿AGEs TRUST
F FINANCIAL A
YEAR ENDED S APRIL 2022
Unr&%tricted E
No
oral 202
Income
Cban'table activitics
R¢nts receivable
Inv¢stm¢nt income
Bank initrest
Oth¢r income
Tot81 in¢om¢
250.781
250.781
220296
929
29
2,110
33
33
251.743
251.743
222.409
Expenditutt
Chantable activits
Other
Total expendiDJre
214,829
214,829
159,567
37.564
197.13 1
258,041
258.041
Net incumel{expcndi¢ure) for th¢ I
Rcvaluation of w)8Lble fixed a35cts
Nct movemeni in fiu)ds
Balance brought foThMrd
Balanc¢ carried forward
(6.298)
62,807
149.427
56.509
149,427
09 956 4.980.875
2.266,465
5.130J02
16.2981
212
205,936
7,190.831
7 396.767
2S,278
152 289
177,567
7.013.264
7 190.831

WILLIAM JOFTrI MItis c(YrrAGES TRUST
BAtANCE SHEE[
S APRIL2022
2022
202
JnvestmentS
W J Mi115 (Propcty) Wtd
Fixed assets
T¥ngible fixeAI ass¢ts
7286,681
7,074.447
Current ￿sets
DebtOTS
Cath ￿ bank knd in hand
63.678
225,172
288.850
48.011
250.442
298,453
Creditors.. Arllo￿ts withtn otte year
22.316
N¢t ¢urr¢nt assrts
250.065
7.536,748
276.137
7.350.586
Creditor5 .' Amounts due after one
Net 2ssets
139.981
7.396,767
159,755
7.190,831
Capitsl fvnds
ndowments
Income fLLnds
Uoregtricttd fiwds
S,130J02
4,980,875
2 266 465
7 396 767
2 209,956
7.190831
Tho financi￿ sthtemthts were appToveA and Buthwisa foT issue by the on..
and Sign￿* on theirb¢half ty.
Mrs L A WilyoD- CbAlr
Mn S Burley- Vkeihair
Th8 mleson pages 7 to 10 form wl ol

JOHN MILIS COThAGES TRUST
NO
REND
S APIUL 2022
l. s￿mMary of sffignl(k*Dt #ceoutttlni polkl¢s
(*) Genernl 1ttforn￿¢6DTh **d ba¥is Of prep•YAtlon
willia￿jObll Mills cotta￿ Th]st 15 J d￿1￿1¢ Tbe TnLQ is a TepSt￿ ¢harity iti EWDd within the Ut)ited
Kingth)m.
Th¢ charity COTthI￿leS a public be￿rit entity as defined by FRS 102. The fllwKial statrments hav¢ been pry8red in
aCCi)rd￿ce with A¢¢outttsng Re￿tio8 by Charities.. Sts1¢n￿t of RecomTnAdal Practic¢ applicable to charities
prepanng tbeir a¢COUTLts in accoTdan¢e with th¢ FiTwKial Rwting sI￿d￿rd applicable in the UK aDd Republic of
IrelaDd (FRS 102) is8u￿ on 16 July 2014 (as updated thmgh Urth Bulletin I published on 2 Fthiwy 2016). the
Charitie$ Act 2011 and UK GeTher811y A￿ep￿j Accountin8 Prncts"ce.
The fJn8n¢i81 statements ate prepar￿ on th 8oin8 ¢on¢ern basi8 unthr the c4)St convention. A￿difie￿ to iDclude
c¢rt8in itemy ai fair vah*. The financial Statrm￿ts a¥¢ p￿Se￿Ie4 iti steTliDg which 1$ th¢ ffitsnctiOJ41 CUTren¢y of the ¢heTity
alld TOU1￿￿j to the Deozr¥t £
The Bignifjcant aC¢OUDting Tx>licies applied in the pryaratiots of these fjnancial $tatemcnts we Set out below. These
policics hav¢ tr￿eTh Gotisiswjtly applied to all ye415 presentcd uttlw othertvisc sta*d.
(b) Inurnt rrtognltlo
All incoming re8OUTce8 aY¢ included in thc StstemEni of Finan¢ial Activities (SOFA) when the Lharity is Icgally entitlcd to
thc incom¢ after fyny pcrfornwv ¢L￿dItiOnS Iwve bLW m¢{ th #ll￿uDI L*n be rdiably and it 1% PTobibl¢ that
the incom¢ wjll be ￿¢1Ve(L
No amount 1$ irtcluded in the fiDaneid ststemmts frff volunteer time in li￿ with the SORP (FRS 102).
{t) re¢fjKDlflon
All ¢xpeDditur¢ Is accoiinted for ￿ aD aL*n￿￿ ba￿ aThl b•$ b¢en ela$8ifioJ 48regak costs related
to the ¢gte80ry. ExFenditur¢ 13 reeognised whete there is a Iwl orconstr￿ve obligatioD to ￿￿ke p*yments to third
portie5, it is probablc that the $¢tticrn¢nt will be rwuirnj •TrJ the amouDt of the obli8•tsOD b¢ measured reliably. It 1$
categoristyj under thc following headin￿..
EX￿)diture on cbaritsble activities; and
Otherex5Knditure
rc¢ovcrnble VAT is ¢barg￿ an expe4w again￿ th¢ adiviry foT whi¢h ¢xpeoditiwe
(3rants payable to third partits are wtthin the th8ritsble objeclivw. Whcre unconditional ryits arc off¢re& this is accrned
as Soon as the rec%pietht is notified of the 8ran( &9 this gives risc to a rcawTrJblc expca&tion the Tecipienl will receivc
the wts. Whet¢ ￿allts 8re conditiODaJ reknttDgto perforttADce then the Brant is only a¢¢tued wheD sny unfvlfilled
conditions are ¢iutside of th¢ CODtrol of thc ¢b￿"ty.
(d) T•n8lble flyed &￿ets
Freehold ]4lld and buildings arc at fair tAlue.
Other sundry fixed asg¢LS 8Te ]￿lU&d in the SOFA in the)wrof pw¢h&*.

OTES TO THE FIN
{e) Investments
InvulDJellts subsidiaries ar¢ Meas￿ at t4)￿ le&5
(O Debtors and creditors rrtdvable I payable witlthi one ymr
DebtOTS and creth.tors with no ititrre5t and receivable or within onc >rar arc re¢orded at transa¢tion
(gl Caih
Cash and ¢8sh ¢quivalents ate basic fiDan¢wl 8ss¢t$ and iTKI￿ cash in harf deposits held at call with W oth¢r8hort-
tern) liquid invcslments with ori￿￿81 Mati￿1￿¢% ofthrec moDitrks oz l¢s& and bADk ovudratls.
Ih) Funds
Unrestricted fimdg art available for use at the dtudiott of the thtstees in of th¢ Bw)ernE objective8 of the
Charity Al￿ which have Dot been designatcd for other purrrtTrse&
Endowm¢nt funth repres¢nt th08e 8$9¢ts which must be held r￿nn￿n￿tIYbY the ¢lthTity, PTincipAlly freehold Propetty in Si
l)ay. Income arising on thc cndowTrent funds can b¢ used in •ttOTdantx with the objccts of th¢ ¢h8rity and is included os
unrcstritted incotnc. Anyc4pital 88ins or losses arisingon th¢ inv¢stm¢nts forni of the fun& Invc5tmeDI man8g¢menl
charges 8tMt l¢gal advsce relatin8 to th¢ fwhd jre thc fund.
111 Golh¢ ¢4#¢ern
Following theBiobal impact of'C.OVID-19', * the lime of •p￿ll¥ the finaDcuJ •wn¢nt4 the trusteu bavc a reLwnthle
•xprKtytion that the chan'ty h8$ nSOUT¢O towMinu¢ in existt*¢eforthe fiw¢<•bk Thus thttDJSte&4
2. Inveitmenti In Sub$ldl*ry
lo￿￿ holding of W J Mills (Propeny) ￿ which itieorpoT8ted on 25 Novemb¢r 2019. Its Componynumber is
12331192. The comp8rtgs fiT51 accounts will cover the period entsj 5 April 2022.
3. T*nglble nxed gsKts
Freeh Id I
d buildi
Valuation
At 6 April 2021
7.074.447
212.234
7286.681
IThcrc￿C in valuation
Ai 3 April 2022
Depreciation
At 6 April 2021
Lhar8e for the yur
At 5 April 2022
Nct book value
At 5 April 2022
At 6 April 2021
7 286 681
7.074.447
In thc abscncc of an cxÈem8J valuatio]K forvthich cost5 have to br IT￿lIr(L th¢ bcst available infornalion is represent
by rcÉnststcment values adoptd for wp05¢5 ￿￿111￿8 £7286.68] (21Y21 £7.074.447) in rwect of the freehold
prop¢rtie5 ¢xGluding land valucs.
If freehold land and buildi￿sS W ttoi btert rrv•iwJ in pmious yr4T4 Tt would bavc bccn on thc histori￿1 Cost
basis of £1,567,457.

IHE WttLIAM JOHN MILLS COTfAGES TRUST
YEAR ENDED S APRIL 2022
4. Debtors
2022
2021
Trade d¢btoY¥
2.978
59.074
1,626
63.678
46.430
48,011
5. Credltors: faMsuE due wlthlD omt ye*r
2022
Rent in Advow¢
Othertreditors
18,818
l J22
18,645
4,799
17,517
6. Cred5ton: AmouDts f*llln8 *ft¢r one y¢•r
2022
2021
iKJ
139981
159755
The total amouftt of tbe loatt Tr CIthTity Bank outsthnding at 5 April 2022 li £15&626 (2021.. £177.272). Th1$
amount doc5 Dot include inter&8t which 18 due on the 0uLth￿￿8 ball￿e.
7. An*lyilJ of net •Mtts betw¢¢n f¥Ads
Fwid balwcu ￿ 5 April 2022
are rq)Tesented by
Investments
T8n8ibl¢ fkxgj assets
Current a&8ets
Liabitlties
2,156J79
288.850
5.130.302
7.286,681
288.850
178,766
7.396.767
2,266.465
5 130.302

10
1NE WTLUAMJOHN MTLtS COThAGES TRugr
OTRg T
IHE FINANCIAL STAIEMEKES
ENDED 5 APRIL2022
8. Expenditsre. Dnr¢gtricted
Totsl 2
202
lJ31
a¢t*$ wa8
Twtee$ trav¢1 expeD
AdmÈDistrth've costs
Bookk¢¢pin8
A¢¢ountancy
1.331
21.135
1.583
1659
1.623
15,765
826
2.094
21.135
1583
L659
510
869
1.713
381
510
869
1.713
381
4,760
37,756
7.477
163,305
97
488
831
2.460
381
4,695
26.869
.82J
124.557
Oth¢r professiotwl fees
Trustces iAdcmDity
Propety insur8nc¢
He81. light, wer and r•*&
Caretoker8lld 8ard¢nin¥
4,760
37,756
7.477
163J05
Bgnk charges
LoAn ¢ornmitment fee
Loan iBt¢restpaid
1497
3228
3,228
12,153
197 131
1531
213 298
9. W*8tt Mlarl
Social Stturiiy Costs
19,191
14,818
947
13,765
21.135
There wer¢ no en4>101tts with enK+lwRents iti exeew of £(iXIJO.
10.Trustees reM•￿trItIOn #nd expem
NIL
826
1.583
Trustees exp¢nsc5 n*loEy￿jatc to tr4vEI costs wue ckninxd by2 (21Y21: 21
I l.Related ￿rtytr￿$*t1lo
As at 5 April 2022 W J Mills (PD)Fty) Ijd owc4J the Tntst £59.074 (2021.. £46.430). MrK Goldsworthyw
Mr S FAlwaT& are a150 of W J Mills (Prow) L￿.