Charlty rezlstrnfjon number SC019830 Ikotlandl
THE MILL ON THE FLEET
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

THE MILL ON THE FLEET
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Barnaby Fryer
David Hart
Diana McGavin
Dlana Proudlove
Yvonne Harrison
Yvonne Glass
(Appointed S JuThe 20251
(Appointed 24 July 20251
Charity reglstrntion
Scotland
SC019830
Independent examlner
Jennifer McDairrnant, FCA
26 High Street
Annan
Dumlries & Gallowav
DG12 6AJ

THE MILL ON THE FLEET
CONTENTS
Trustee5' report
Independent examiner's report
Statement of financial activities
Balance Sheet
Notes tothe fi.nancial statemefjts
6-15

THE MILL ON THE FLEET
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees present their annual report and financSal ststements for the year ended 31 December 2025.
The finaTrcial siatements have been prepared in aecordan¢e wilh the a¢covntinR policies set out in note I to the financial
Statements and comply with the charity's governing document. the Charities and Trustee Investment (Scotlandl Act 2005. the
Charitie5 Accounts Iscotlandl Re8ulations 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic
of Ireland" and the Charitie5 SORP 'Accountin8 and Reportill8 by Charities.. Ststement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Flnancial Reporfjng Standard applicable in the UK and Republlc of
Ireland IFRS 1021"
Objectives and activities
The purpose of the charity 15 to advance. develop, improve and extend-The Mill on the Fleet- as art5. heritage and cultural
centre for the benefit of Gatehouse of Fleet and the wider region.
Activities
The Mill on the Fleet 15 3 large exhibition Cent￿ In a restored 18th century. listed cotton rnill. It h05t5 permanent core displays
on the history and heritsge of Gatehouse of Fleet aThd the Fleet Valley area, and during the season r( put5 on annual
programme of temporary exhSbitions, talks. live Music and other comrnunity events. The Gatehouse Tourist Information Centre
is based in the mill. There 15 also a shop selling regional arts and crafts, a wond-hand bookshop. and a café wilh a riverside
terrdce. Housed within the grounds of the mill 3re.' Wheels of Fleet- the main hub for Active Travel between Oumfries and
Stranraer. and the Mens. Shed and Community Garden. both of which support mental wellbeSng and social inclusion
Achlevements and perfomian¢e
5ignifi'cGnt ocbvities ollLI achievements ugoinst objective5
2025 was something of a 'changing the Euard, year, with Ken Srnyth stsnding down at the AGM in Jun¢ after almost 20 years
service. The board has seen a nurnber of changes over the year, with the sad loss in May of Girry Turnbull. who passed awav
after beinE lost at sea. The board is now entirely new, looking to pick up the reins and steerthe mill into a new chapter.
The riverside cafe is now run by Mill on the Fleet Cafe CIC, as an independent. not-for-profft community cafe. The food and
drink offer has been expanded and a number of events and perforrnances taking place in the cafe area during the year.
The bookshop and PA Arkn5ts shop on the top floor have continued offering a wide range of Eoods fv visitors to explore and
purchase. The art5 and culture programrne in 2025 had a Mixtu￿ of some wellloved regulars as well as some new land
tLITningl fixtures.
A series of classical performances and work5hop5 in the Faed Gallery were well received and we even hosted a celebration
event for a week-long piano course running at various venues in town.
Mill Talks returned, showcasing interesting talk5 by a wide range of speakers. covering cultural and natural heritage topics.
BigLit once again used the mill as a key venue. both for performances and as the green room, f￿ the performers. We also
hosted a book launch by a local author in 2025.
Visitor numbers weTe 12.575 over the 2025 season,. a small increase on 2024.5 figure of 10,982. A Msitor survey was carried
out in 2025. 8Svln8 us loads of useful information about the mlll, to feed into futvre development plans.
Behind the 5¢efies, a huge amount of work ha5 been done on the buildin& which is really showing its a￿. The lrft is still
unysable for the general public. which prevents peoplÈ with mobility Issues reachin8 the top floor. Unlortunatèly. Ihe costs to
repair the lift are not viable for the charity to meet and we really need to be looking at a lift rq)lacement in the future.
We did manage to re-form the Mill Engineering Group. with a number of lotal volunteers stepping forward to help us with the
myriad tasks involved in keeping a building of this size functioning. A £urrent focus of this group is in trying to get the water
wheels back into operatton. as a key showcase of the mill'5 heritage.
A 518nihcant arnount ol money has been spent on upgradin8 the Elertric•l systems in the mill, to ensure legal compliance, with
More work needing to be carried out in 2026.

THE MILL ON THE FLEET
TRusfEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
A range of fundraising acttvities were held, to help rneet the costs of this worl with a fundraising curry eveniTh& as well as the
launch of the Mill 11)) club.
The 21>year lease from the COUACII expired in March 2025. We are on a rolling lease extension. while we work with the counril
to secure a new, long-temi lease through the CornmunityAsset Transfer proce5S.
As part ol that. a huge amount of effort has been put into developing a business plan for the mill to support its development
over the next 20+ years.
We look forward to agreeing the detsi15 lor a new lease in 2026.
Finanelal veview
The delicit in unrestricted funds for the year was £17.574, with a net totsl defi'cit of £15,495. This was primarily due to the
ce55ation of what had been a regular Efant from Dumlries and Galloway council lllothing was received for 201SI26- leadinE to
a E4,000 drop in income against budget) and expenditure of over £IS.000 on urgent electrical upgrade5 and safety
certiticatr.on work. The deficit was funded from tash reseryes.
Reserve5 policy
The tru5tee5 reviewed the Reserves Policy in 2025 and agreed that for the current year a reserve crf E7.500 lan increase from
the previous level of £5.0001 would be retained to provide a contingency against potential risks. unexpected costs and
outstanding liabilities in the event of the windin*up of the charity. It is proposed to further increase the level of ￿serveS to
£IO.000 from 2027.
Strurture. ￿ver￿anCe and manayment
The trustees who ser¥ed duringthe year and tsp to the datÈ of signature of the financial statements were..
Danny Alderslowe
IResi8ned 7 April 20251
Bamaby Fryer
David Hart
Alex Hodson
Dlana McGavin
Diana Proudlove
Ken Smyth
Garry Turnbull
Helen Keating
Yvonne Harrison
Yvonne Gla55
IResigned 5 June 20251
(Resigned 5 June 202SI
IResigned 13 May 20251
(Appointed S June 2025 and resigned 8 August 20251
(Appointed 5 June 20251
IAppointed 24July 20251
Recruitment und oppointment of trustees
Trustees are recruited or appointed at an AGM, orcLH)pted as ￿quired.
The trustees. report was approved by the Board of Trustee5.
Barnaby Fryer
Trustee
Date..

THE MILL ON THE FLEET
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE MILL ON THE FLEET
I report on the financial statements of the charity lor the year ended 31 December 2025, whlch are set out on paEes 4 to 15.
Rtspecknve respon$ibillttts of trustee$ and examlner
The charity's trustees are responsible for the preparation of the finantial staternents in acc(*dance with the terms of the
Charifjes and Trustee Intrestment (Scotlandl Art 2LKIS and the Charities Accounts Iscotlandl RegulatiL￿5 2006. The charity
trustees consider that the audit requirernent of Regulation Iollllaklcl of thÈ Charities Accounts15cotlandl Regulations 2006
does not applv.
It is my responsibllity to examine the financial staternents a5 required under secDon 44llllcl of the Charities and Trustee
Investment Iscotlandl Art 2005 and to State whether partlcular matters have come to my attention.
Basls of Independent examlnees statement
My exarnination is carried out in accordance with Regulation 11 of the Charities Account5 (Scotlandl ReBulation$ 2(X)6. An
examination includes a review of the accounting records kept by the charity and a cornparison of the financial statements
presented with those records. It also include5 c005ideration of any unusual items or disclosu￿5 in the linancial statements.
and seeking explanations from the trustees concerning any Such matter5. The procedures undertaken do not provide all the
evidence that would be required in an audiL and consequently I do not exprèss an audit opinion on the view Riven by the
finant1al sMements.
Independent examlner'5 5tztement
In the course ol my examination, no matter ha5 corne to my attention
l. which give5 rne reasonable cause to believe that in any material ￿SpeCt the requirement5.'
to keep arcounting records in accordance with Section 44llllal of the Charities and Trustee Investment (Scotlandl
Act 2(X)S and Regulation 4 of the Charities Accounts Iscotlandl Regulations 2006, afid
to preparÈ linancial statements which a£¢ord with the accounting records and comply with ReBulation 8 of the
Charities Accounts Iscotlandl Regulations 2(￿)6
have not been met, or
2. to which, in my opinion. attention should be drawn ITh order to enable a proper understsnding of the financial ststements to
be rÈa£hed.
Jennifer M¢Dalrn)ant. FC
26 High Street
Annan
Dumfries & Galloway
DG12 6AJ
Date..

THE MILL ON THE FLEET
srATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
Unrnstritltd
funds
2025
Restrlcted
funds
2025
Total
Unrtstrlrted
funds
20Z4
Restricted
funds
2024
Total
2025
2024
Note5
Income and endowments from..
Donanons and le8acie5
Charitsble activities
Other income
6,127
22.246
6.127
24,154
259
3,816
41,968
607
3.816
41,968
607
259
Totsl In¢ome
28,373
2.167
30.540
46,391
46,391
Empendlture ijn..
Raising funds
Charitable activities
407
4S.540
407
48,818
11,409
48,818
11,409
88
45,628
Total expendlture
45.947
88
46.03S
60,227
60.227
N•1 inromelleMpendl￿r*} and
m¢>¥ement In fund5
117.S741
2,079
115.4951
113,8361
113,8361
Re¢ondllatlon offvnd$:
Fund balances at l January 2025
29,835
iii
29,946
43,671
iii
43,782
Fund balances at 31 De￿mber
2025
12.261
2.190
14,451
29.835
iii
29.946
The ststement of linancial activities includes all gains and 1055es reco8nised in ihe Veèr. All irrome and expenditure derive
from continuing activities.

THE MILL ON THE FLEET
BALANCE SHEET
ASAT31 DECEMBER 2025
2025
2024
Notes
Current assets
Cash at bank and in hand
14.451
29,946
Net current assets
14,451
29.946
The funds of the thorlty
Restricted inctsme fund5
Unrestricted lunds
li
12
2.190
12.261
iii
29.835
Iiiiiiiity
14,451
29,946
nanci31 statements were approved by the trustees on ............
B3rnaby Fryer
Trustee

THE MILL ON THE FLEET
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEM8ER 2025
A(countlng poll¢le$
Charlty InfOrma￿On
The Mill on The Fleet is a Scottish Charitable Incorporated OrgaThisatr"on ISCIOI.
1.1 Basls of preparntion
The h"nancial ststements have been prepared in accordance wlth the charity's governing document, the Charitie5 and
Trustee Investrnenl (Scotlandl Att 2LKIS, the Charities Accounts (Scotlandl Regulations 200G. FRS 102 "The Financial
Reporhng Standard applicable in the UK and Republic of Ireland. and the Charlttes SORP Accounting and ReporDng bv
Charities.. Statement of Recommended Practice applicable to £haritie5 preparing their accounts in al￿rdance with the
Financial ReporrinB Standard applicable in the UK and Republic of Ireland (FR5 1021. The charity is a Publlc Benelit
Entity as defined by FRS 102.
The charity has tsken advantsge of the provisions In the SORP for charities not to p￿pare è statement of cash flows.
The linancial statement5 a￿ prepared in sterliTh& which is the funthonal currency of the chariiy. Monetary amounts in
these financial statement5 are rounded to the nearest £.
The financial staternents have been prepared under the hisrorical cost convention. The principal accounting polic*es
adopted are Set out below.
1.2 Goln8 concern
At the time of approving the financial statements, the trustee5 have a reasonable expeuation that the charity has
adequate resourtes to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt
the going concern basis of accounting in preparin8 the financial statements.
1.3 Charftable fvnd5
Unrestricted funds arÈ available for use at the discretton of the trustees in furtherante of theircharitable objeciive5.
Re5trirted funds are Subject to speclfic conditions by donors or grantors as to how they may be used. The purposes and
uses of the restritted lunds are set Dut in the notes to the financial statements.
Endowrnent funds are subject to speeif5c (onditions by donors that the capital must be maintalned bythe charity.
IA In(ome
Income is recognised when the charity is legally entitled to it after any performance conditions have been met. the
arnounts can be measured reliably. and it is probable that income will be received.
C•5h donations are recogn¢sed on ￿CeiPt. Other donation5 are recognised once the charity has been notifi'ed of the
donation. unless performance condition5 require deferral of the amount. Income tax ¥ecoverable In relation to
donations received under Gift Aid or deeds of covenant 15 recognised èt the time of the donation.
Le8acies are recognised on receipt or otherwise if the Charity has been notifi.ed of an impending distribution. the
amount is known, and recelpt 15 expected. If the amount is not known, the le8acy is treated as a contingent asset.

THE MILL ON THE FLEET
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Accounting pollcles
Icontlnuedl
l.S Expendf(ure
Expenditure is reco8nised once there is a legal or constructTrve obligation to transfer economic ba)efit to a third party, rt
is probable that a transfer of economic benefits will be required in settlement. and the amour*t of the obligarion can be
measured reliably.
Expenditure is classified by athvity. The costs of eath acffiw6ty are made up of the total of dIr￿t costs and shared costs.
includin8 SUPPOrt Costs involved in undertaking each activity. Direct costs attributable to a single athvrty are allocated
dlrectly to that actyvity. Sha￿d costs which contrlbute to more than one activity and support ¢05t5 which are not
attributable to a single activity are apportioned between those activitie5 on a basis consistent with the use of resources.
Central staff costs are allocated on the basis of time Spent. and depreciation charge5 are allocated on the portioTh of the
asset's Use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand. deposits held at call with banks. other 5hort-terrn liquid investments
with original maturitie5 of three month5 or less, and bank overdraft5. Bank overdrafts are shown within borrowings in
curreTrr liabilities.
#skflnon¢lolossets
8asit financtal asset5. which include debtor5 and cash and bank balance5. are ini￿allY rnea5ured & tranSaC￿on price
including tran53ction costs and are Subsequently carried at arnortised cost Using the effective interest method unless
the arrangement cor15titutes a financing tran5athon, where the transaction 15 measured at the presert value of the
future receipts discounted at a market rate of inte￿$t. Financlal 8ssets classified as ￿ceivable w•thin one year are not
arnorti5ed.
8usicfinan¢iolliobilities
Basic financial liabilities, iThcludin8 credittsr5 and bank loans are inifjally reeoEnised at transathon Price unless the
arrangemeni constitutes a fi.nancing iransacron, where the debt instrument is measured at the presert value of the
future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are Thot
amortised.
Debt ill5truments are subsequently carried at amortised ¢ost, usin8 the effethve Inte￿$t rate method.
Trade creditors are obligations to pay for goods or service5 that have been acquired in the ordinary course of operations
from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they
are presented as non-current liabilitie5. Trade creditors are recognised initially at transaction price and 5ub5equentlv
measured ￿ amorrised Cost usln8 the effective intefest method.
Derewnltlon ofJSft•n¢l•lllublllrfes
Finarncial Itabilities are derecognised when the charl￿S coThtractual obligations expire or are discharged or cancelled.
1.7 Employee benefits
The cost of any unused holiday entitlemeTht is reco8ntrsed in the period in which the employee's services afe received.
Termination benefi'ts are recognised immediately as an expense when the char¢ty is demonstrably committed to
terminate the ernployrnent of an employee or to providè termination bÈnefits.

THE MILL ON THE FLEET
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Crltkal a¢¢ountin¥ estlmate5 and Judgements
In the application of the charity'5 accounting policies, the trustee5 are required to make jud8etnent5, estimates and
assurnptions about the carrying amount of assets and liabilitie5 that are not readily apparent from other sources. The
e5tirnate5 and associated assumptions are based on historical experience and other factors that are considered to be
relevant. Actual results may differ Irorn these estimates.
The estirnate5 and underlying a55umption5 are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estifflate 15 revised where the revision affects only that perifxl, or in the period of
the ￿viSIon and future periods where the revision affects both current and future peri(Kls.
Income from donations and le8o¢les
Unrestricted
funds
2025
Unrestricted
funds
2024
Donation5 and gifts
Grants
5.110
1.017
3.816
6.127
3,816
Income from charltable 4th￿tieS
Unrestricted Resirirted
lunds
funds
Z025
Z025
Totsl
Unrestricted
funds
2024
Restricted
funds
1024
Total
2025
Z024
Charliable actTrvltl
Sale of goods
Room hi¥e
Events
Fundraisin8
Cafe recharges
Rent
33.768
33.768
601
690
1.705
3,7tX)
15,550
601
778
3,525
3,700
IS.S50
88
1.820
8.200
8,200
22,246
1.908
24.154
41.968
41,968

THE MILL ON THE FLEET
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
other Income
Unrestricted
fund$
2025
Restrlrted
fvnds
2025
Total
Unre5trirted
funds
20Z4
Re5trlcted
funds
2014
Total
2025
20Z4
Other receipts
259
259
607
607
Expendlture on ralslngfunds
Unrestrlcted Unrestrlrted
funds
fund5
2025
2024
Fundraising and publiclty
Other fundraising costs
407
Tradlng costs
Other trading acrivities
48,818
Total cost5
407
48,818

THE MILL ON THE FLEET
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Expenditurt on charitsble activities
Charitable
athvltles
2025
Charitable
aL%fvifje$
2024
Dlrtct rosts
Water and wa#e
Business rates
Insurance
Maintenan
2,750
4,067
1.127
1.356
1.096
4,989
629
I,iio
660
19,374
11,932
1,158
S06
Phone and bioadband
Development
Accountancy
Refreshments
Advertisin8
Events Expenses
Bank charges
Misc payments
Donaffions
864
794
450
850
300
816
142
45.628
11,409
Analysls by fvnd
un￿StrICted funds
Restricted funds
45.540
88
11.409
45,628
11,409
Trustees
Expenses totaling £829.88 were reirnbursed to 5 trustees for purchases made on behalf of the charity, including food
supplies for the fundraising event, key cutting. donation boxes. non-slip decking strips and tea/coffee for the Mill Talks.
Receipts were obtained for all expenses paid.
Employees
The average monthly number of employee5 during the year was..
2025
Number
Z024
Number
There were no ernployee5 whose annual remuneration was more than £fAI.(%JO.
10-

THE MILL ON THE FLEET
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2025
10 Taxatlon
The charity is exempt frorn tsxation on tts acty"wties because all its income is applled for charitable purposes.
li
Restrl¢ted lunds
The restricted funds of the charity comprise the unexpended balances of dOna￿OnS and grant5 held on trust subject to
speclfic condition5 by donors as to how they may be used.
At l January
2025
Incomlng
reSou￿e5
Resources At 31 December
expended
2025
Community Garden Fund
Piano Course Fund
Orphan Cash Funé
Mill 'l(X) Club. Fund
iii
iii
8R
1881
259
1,820
259
1,820
iii
2.167
1881
2,190
Previou5 year:
At l January
2024
Incomlng
resources
Resources At 31 December
*xpended
2024
Community Garden Fund
iii
iii
al Cornmunity Garden Fund
Balance of funds from a grant made In 2023 to support the work of the community ￿drdeD in the ground5 of the Mill on
The Fleet
bl Piano Couyse Fund
Funds related to a piano course and associated Concerts held over the summer in 2025. uslng the Mlll's spaces for sorne
activitie5, the Mill's online book¥ng system and facilitie5 such a5 the piano. On completton of the course. the organi5ers
agreed to donate the balance of £3.05 to the Mill.
cl Orphan Cash Fund
During a clear-out In the Mill in 2025. a number of bags of Cash were found, dating back as far as 2014. apparently
relating to sales in the Mill Shop on behalf of local artists. prior to the closure of the shop. Efforts are underway to
identtfy and contact the arhsts concerned.
dl Mill'lOD Club, Fund
The Mill is launching a 100 Club from January 2026 as a fundralsing Initiative. Cash in this fvnd represent$ 100 Club
Membership fees for 2026 paid in advance.

THE MILL ON THE FLEET
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEM8ER 2025
12
Unrestrirted fund5
The Unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject
to specific conditions by donors and graniors as to how they may be used. These include designated lunds which have
been set aside out of Un￿$t[Icted funds by the trustees for Specifi'c purposes.
At lJanuary
2025
In¢omln£
esources
Resource5 At 31 Oe¢ember
expended
2025
General funds
29.835
28,373
145.9471
12.261
Previous ye•r:
At lJ4nu•ry
2024
Incomin8
resgur(e5
Resources At 31 December
expended
Z024
General fund5
43.671
46,391
160,2271
29.835
12-

THE MILL ON THE FLEET
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
12
Unresiflcted funth
Icontlnuedl
111 Donation5
Bookshop
Visitor donations- cash
Visitor donations- card
Mill talk5 donation5
Other donations
Total donations
17
2,138
1,195
756
S,109
121 Grant$
A grant of £1,017 was ￿te1Ved from the 2024125 Dumfries and Galloway Council Communsty Fund toward5 the runrning
costs of the Mill. An unsuccessful application was made for grant support for 2025126.
131 Rental Income
Mill on the Fleet Cafe CIC
PA Arrists Pop-up
Mill on the Fleet Bookshop
Wheels of Fleet
Totsl rental income
3.SCrf)
5.150
15.550
141 Room Hire
Room hi￿ income compftsed f 3tJ) from the BigLit festival. which was h05ted in the Mill. and £301 from hire of the River
Roorn and Faed Galleryto external organisation5 and indfviduals.
151 Events Incorne
This represÈnts titket sales from two concerts held in the Faed Gallery.
161 Fundrni$in£ Income
This ￿presents the 8ross ¢ncome from one fvndraising event held in the Mill Cafe.
171 Cafe Recharges
These represent costs paid by the Mill for the electricity Supplied to the cafe l£1,1401 and business rates lor 25126
1£2,5601. both rechargéd to the Mlll on the Fleet Cafe CIC.
181 Tradln8 Recelpts and Payments
The trading receipts and payment5 fi8ures for the previous period relate to the in-house cafe. which was permanentlv
c105ed at the end of October 2024. The incorne liguTe represent$ 8ross cafe salès and thé èxpenditure fi8ure includes
aTh element of overhead £05ts (including water and waste. in5urante, elertricity, advÈrDsing, phone. atcountancy etcl
apporknoned to the cafe. In 2025, the Mill expenditure figure5 include the full c05t5 of the overh&ds, an appropriate
proportion of which are covered by the rent charged to the new tenant, the Mill on the Fleet Cafe Cl.
191 Business Rates
As a ¢onsequence of the level of income from the in-house cale, the Mill became liable to pay business rates from the
2024125 fi.nancial year. Business rates payments in 2025 include the payments relating to the financial years 202412S
and 2025126. the latter being re-charged to the Mill on the Fleet Cale CIC. Discussions are underway with the Councll
valuation departrnent to arrange for separate ratin8 of the t•fe from 2026127.
13-

THE MILL ON THE FLEET
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2025
12
Unrestrlcted funds
(Continued)
1101 Malntenance Costs
Maintenafice costs include £12,959 for ele￿rital upgrades and 3 safety certificate for the Mill ground floor and cafe, and
£2,374 for the elertrical safety irsspection of the rernaining areas of the Mill. IThe necessary elertrical upgrade work to
the remaining areas is due to be carried out in early 2026.1
1111 Development Ci)sts
Development costs include for new si£na8e and the purchase of a card machine for visitor donations.
1121 Refreshments Costs
RefTe5hrnent5 COSt5 include £770 for the provision ol tea/coffee to volunteers managing the welcome and tourist
inforrn3tion desk in the Mill. and £24 for the provision of refreshments at the Mill Talks events.
1131 Mlscellaneou$ Payments
Mlscellaneous payment5 relating to charitable acknvitie5 include £380 for the re-printin8 of local walks leafle15, the PRS
music licence for the Mlll, and support costs for the card machlne.
13
Anaty5is of net assets between funds
Unre5trlrted
Restrlrted
fund5
2015
Total
lunds
202S
2025
At 31 December 2015..
Current assetsllliabilifjesl
12.261
2,190
14,451
12.261
2,190
14,451
Unre5trirted
fund5
2024
Rettrfrted
funds
2014
Total
2024
At 31 De￿rnber 2024..
Current assets/lliabiliMesl
29.835
iii
29.946
29.835
iii
29.946
14
Related party transactlons
14-

THE MILL ON THE FLEET
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
14
Related party transactlons
Icontlnuedl
Ken Smyth. a trustee un￿1 5 June 2025, ha5 an ir5terest in two businesses whtch pay rent to the clority, the Mill
Bookshop and the PA Arnst's pop-up. Ken Srnyth a150 ha5 an interest in a design company to which the Mill paid E35.29
for a new entrance Sign whilst he wa5 a trustee.
Barnaby Fryer. 8 trustee. is 3150 a director of the Mill on the Fleet Cale CIC. which pays rent to the Mill, and which the
Mill pays for services including the provision of refreshments for volunteers.
15-