REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Argos Hill Windmill Trust Limited |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Argos Hill Windmill Trust Limited |
Argos Hill Windmill Trust Limited |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Report of the Trustees | 1 | to | 2 |
Statement of Financial Activities | 3 |
Balance Sheet | 4 | to | 5 |
Notes to the Financial Statements | 6 | to | 9 |
Argos Hill Windmill Trust Limited (Registered number: 07249293) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
The trustees who are also directors of the charity for the purpose of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005 and the provisions of UK GAAP. |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The aim of the Society is to repair and restore Argos Hill Windmill which is a Grade 2 starred listed building. |
The objectives of the charity are specifically restricted to the following: |
To preserve for the benefit of the people of Kent and Sussex and of the Nation the historical, architectural and constitutional heritage that may exist in and around Kent and Sussex in buildings (including any structure or erection, and any part of a building as so defined) of particular beauty or historical, architectural or constructional interest. |
Method of operation |
The organisation is managed by the Members of the Executive Committee, who are the Directors/Trustees of the charity. |
All of these activities are carried out by dedicated volunteers as the Charity has no employees. |
ACHIEVEMENT AND PERFORMANCE |
The Trustees are pleased to report that the Mill was washed, cleaned and repainted white in the summer months of 2023 with the aid of a cherry picker which had to be removed after each day's work due to restrictions imposed by the owner of the land surrounding the mill. A team of volunteers some of whom were entirely new to the Mill attended in rotation on a daily basis to ensure the task was completed during a prolonged period of dry weather. All the shutters in the sails were repainted and stored over winter in the back of the Mill body. |
The drive system for the new carriage wheels attached to the fantail carriage had to be carefully aligned and adjusted once the wheels were mounted. Further reinforcement of the fittings and frame will be needed but we are confident that the fantail will be fully functional in due course. |
The Trustees also wish to express their sincere thanks to all the volunteers including the ladies who without fail provide tea, coffee and cakes twelve times a year to visitors to the Mill on our public open afternoons. |
FINANCIAL REVIEW |
Reserves policy |
The trustees maintain sufficient reserves to support future charitable activities. |
The charity had net outflow of resources of £110 during the year and had reserves of £12,610 as at 31 December 2023. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
New trustees are recruited and appointed according to its governing document. |
Organisational structure |
All decisions are approved by the trustees of the charity. |
Argos Hill Windmill Trust Limited (Registered number: 07249293) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Induction and training of new trustees |
New trustees go through a formal induction and training process. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Solicitors |
CooperBurnett LLP |
14-16 Mount Ephraim Road |
Tunbridge Wells |
Kent |
TN1 1EE |
GOING CONCERN |
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the trustees. |
Approved by order of the board of trustees on |
Argos Hill Windmill Trust Limited |
Statement of Financial Activities |
for the Year Ended 31 December 2023 |
2023 | 2022 |
Unrestricted | Endowment | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2,488 | - | 2,488 | 2,607 |
EXPENDITURE ON |
Construction Costs | - | 2,049 |
Charitable activities | 2 |
General | 549 | - | 549 | 616 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 12,720 |
Argos Hill Windmill Trust Limited (Registered number: 07249293) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Unrestricted | Endowment | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Cash at bank |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 5 |
Unrestricted funds | 12,720 |
TOTAL FUNDS | 12,720 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year 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. |
Argos Hill Windmill Trust Limited (Registered number: 07249293) |
Balance Sheet - continued |
31 December 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Argos Hill Windmill Trust Limited |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
INCOME |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
EXPENDITURE |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
TANGIBLE FIXED ASSETS |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Computer equipment | - |
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. |
Restricted and endowment funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Argos Hill Windmill Trust Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | CONSTRUCTION COSTS |
31.12.23 | 31.12.22 |
£ | £ |
Windmill restoration, repairs & maintenance cost | 2,051 | 898 |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
TRUSTEES' EXPENSES |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 January 2023 and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 12,720 | (110 | ) | 12,610 |
TOTAL FUNDS | (110 | ) | 12,610 |
Argos Hill Windmill Trust Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2,488 | (2,598 | ) | (110 | ) |
TOTAL FUNDS | ( |
) | (110 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 11,627 | 1,093 | 12,720 |
TOTAL FUNDS | 11,627 | 1,093 | 12,720 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2,607 | (1,514 | ) | 1,093 |
TOTAL FUNDS | 2,607 | (1,514 | ) | 1,093 |
Argos Hill Windmill Trust Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 11,627 | 983 | 12,610 |
TOTAL FUNDS | 11,627 | 983 | 12,610 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 5,095 | (4,112 | ) | 983 |
TOTAL FUNDS | 5,095 | (4,112 | ) | 983 |
6. | RELATED PARTY DISCLOSURES |