IRIS Accounts Production v24.1.9.2 Other Company accounts True false Pounds 1.7.22 30.6.23 30.6.23 FY Mr J Haggerty (Chairman) Mr W Hill Mrs B Charters Mr A Cregan Miss F Patel Mr D Harbord Mr T Spalding Mr J A Walters FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh019288962022-06-30019288962023-06-30019288962022-07-012023-06-30019288962021-06-30019288962021-07-012022-06-30019288962022-06-3001928896ns0:CharitableCompanyLimitedByGuarantee2022-07-012023-06-3001928896ns15:PoundSterling2022-07-012023-06-3001928896ns0:Trustee12022-07-012023-06-3001928896ns0:Trustee22022-07-012023-06-3001928896ns0:Trustee32022-07-012023-06-3001928896ns0:Trustee42022-07-012023-06-3001928896ns0:Trustee52022-07-012023-06-3001928896ns0:Trustee62022-07-012023-06-3001928896ns0:Trustee72022-07-012023-06-3001928896ns0:Trustee82022-07-012023-06-3001928896ns11:FRS1022022-07-012023-06-3001928896ns11:IndependentExaminationCharity2022-07-012023-06-3001928896ns11:SmallCompaniesRegimeForAccounts2022-07-012023-06-3001928896ns11:FullAccounts2022-07-012023-06-3001928896ns11:CharitiesSORP2022-07-012023-06-3001928896ns0:TotalRestrictedIncomeFunds2022-07-012023-06-3001928896ns0:Activity112022-07-012023-06-3001928896ns0:Activity11ns0:TotalRestrictedIncomeFunds2022-07-012023-06-3001928896ns0:Activity112021-07-012022-06-3001928896ns0:TotalRestrictedIncomeFunds2022-06-3001928896ns0:TotalRestrictedIncomeFunds2023-06-3001928896ns0:TotalRestrictedIncomeFundsns10:WithinOneYear2023-06-3001928896ns10:WithinOneYear2023-06-3001928896ns10:WithinOneYear2022-06-3001928896ns0:TotalUnrestrictedFunds2023-06-3001928896ns10:FurnitureFittingsToolsEquipment2022-07-012023-06-300192889622022-07-012023-06-300192889632022-07-012023-06-300192889612022-07-012023-06-300192889612021-07-012022-06-3001928896ns10:OwnedAssets2022-07-012023-06-3001928896ns10:OwnedAssets2021-07-012022-06-3001928896ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-06-3001928896ns10:FurnitureFittings2022-06-3001928896ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-07-012023-06-3001928896ns10:FurnitureFittings2022-07-012023-06-3001928896ns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-06-3001928896ns10:FurnitureFittings2023-06-3001928896ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-06-3001928896ns10:FurnitureFittings2022-06-3001928896ns0:TotalUnrestrictedFunds2022-06-30
REGISTERED COMPANY NUMBER: 01928896 (England and Wales)
REGISTERED CHARITY NUMBER: 292336












REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

HOUSE MILL TRUST LTD

HOUSE MILL TRUST LTD






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2023




Page

Report of the Trustees 1 to 9

Independent Examiner's Report 10

Statement of Financial Activities 11

Balance Sheet 12 to 13

Notes to the Financial Statements 14 to 19

HOUSE MILL TRUST LTD (REGISTERED NUMBER: 01928896)

REPORT OF THE TRUSTEES
for the year ended 30 June 2023


During the reporting period the Chairman, John Haggerty, has spent extensive periods of time in hospital and has not been able to play a full part in the management of the House Mill Trust (HMT). Whilst all trustees increased their activity Beverley Charters and John Walters filled the greater vacuum and enabled HMT to function.We would like at the beginning of this Report also to thank all the House Mill volunteers who have stepped up and once again ensure that the buildings have opened and delivered a wide range of activities.

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of 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 2015).

HMT remains committed to its plans towards the major restoration project, within its overall future strategy but also as an education and intelligence sharing resource, with a range of other heritage projects. Fundraising has begun again, but at this stage in conjunction with planning for an events-based programme, rather than for the main restoration project.

OBJECTIVES AND ACTIVITIES
Public benefit
The public benefits of the project have been reviewed and whilst the primary benefit remains the preservation of the Grade 1 listed House Mill and its restoration to a working mill, the peripheral benefits have been redefined.

Since our last report the Trust has continued developing its objectives and planning future activities in line with the Charity Commission's guidance on public benefits. House Mill bookings have started again and we are slowly working back towards re-opening in every sense, although new business opportunities will need to be identified, in view of the continued working from home strategy resulting in less meeting room hire.

A full programme of Activities, Exhibitions and Meetings is slowly developing beyond the financial year end with Newham Heritage Month, Open House and Open Heritage back on the schedule.These are busy events for House Mill but usually important for raising both buildings' profile and an income stream for the café.


HOUSE MILL TRUST LTD (REGISTERED NUMBER: 01928896)

REPORT OF THE TRUSTEES
for the year ended 30 June 2023

ACHIEVEMENT AND PERFORMANCE
Progress
The Trust had continued to undertake some smaller works that were previously part of the original scheme which will mean slight variations on any whole-restoration project resubmission, but they do demonstrate the Trust's ability to deliver. The specialist volunteer work on replacement of some floorboards within the ground floor of House Mill with appropriately sourced reclaimed timber has continued, in addition to the installation of bespoke metal grilles allowing more efficient egress of the tidal water. Listed building consent was obtained for these works.

Archive digitization has also progressed a little, and other works around improving the archive further have recommenced. Works to the Archive itself continue with both volunteer and trustee research ongoing. This too had been curtailed as the main source of our current research is Hackney Archive, which also had to close throughout the pandemic. It is planned that some of the previously sourced material will be used towards the creation of short films, to enhance the visitor offer and the digital presence, going forward. A new archive room has been established for public access. A new publication "Gin Crazy" was written and published by the Trust during lockdown, and this is proving a best seller with our visitors, as it is a collection of historical facts, anecdotes and even cocktail recipes. An important addition to the Trust's more academic range of publications.

As described in last year's Report, a detailed survey of refurbishment works to the exterior of the buildings had been prepared and talks held with Historic England. An exciting initiative, and the main focus during the year was the commencement of those works and the letting of a contract, after due diligence and formal tendering, to refurbish the south elevations of the House Mill and Miller's House. This was financed by a section 106 award, the work undertaken by Fullers Builders, an experienced, listed building, contractor and the works were supervised by Trustees themselves.This is a major step forward for the Trust.

In conjunction with the UCL team, we are gaining better knowledge of the condition of the ground floor of House Mill, and we have more detailed measurements and photographic evidence of the ongoing damage caused by the rising tide levels. This appears to be as a result of changes to the configurations to the tidal River Lea. This, we understand, is further added to by some of the local developments, where permissions have been given, in isolation, to extend into parts of what was the riverbed. UCL are now monitoring the tidal range as part of a much wider scheme. In addition to the annual inspection and reports, two bespoke sensors have been installed, internally and externally by the UCL East London campus, as part of a wider tide monitoring scheme. The Trust is grateful for this collaboration.

Education
Education at the site is delivered by partner organisations, such as Chain Reaction, University College London, The Line art trail, and various local schools. We are building a closer relationship with the Harris Science Academy (previously East London Science School), located in Clock Mill, and increasing use of the buildings is planned in the year ahead, across a range of subjects.

The Trust has offered various local charitable organizations complimentary use of the classroom for a variety of training and educational activities. These have included environmental projects, local residents and other community and education groups.In particular, we were pleased to host weekly sessions for a Dementia Group, led by The Line, and the clients used both the classroom and the sensory parts of the garden to create comfortable places and some interesting and attractive artwork. Art workshops to incorporate areas of the House Mill itself also took place; in line with on site risk assessments to ensure both building and student safety.

General
We are delighted that House Mill Trust has been able to re-open following the pandemic and resultant loss of visitors, income and volunteers and we are aware that many other small industrial heritage sites have not been so fortunate, having either to close or to be "mothballed".

House Mill is working on reinstating the full programme of Tours, Events, Exhibitions and Special openings. However, with the three lengthy lockdowns during the pandemic, like other venues, we have had to start once again from the bottom up, and this is proving to be slower than had been hoped. Clearly the major events need to have long lead in times, and there are some exciting exhibitions and tours in the planning stages, However, in addition to the weekly public guided tours, it has been possible to deliver a selection of events, to include a wide range of private group tours, gin tastings, a wedding, several exhibitions in the gallery, and we are delighted with their success. Furthermore, Miller's House hosts a weekly coffee morning for a Wellbeing Walk, a Friday youth club, and is the independent venue for Sunday services for Christchurch at Three Mills.


HOUSE MILL TRUST LTD (REGISTERED NUMBER: 01928896)

REPORT OF THE TRUSTEES
for the year ended 30 June 2023

The Miller's House is the site for two major artworks on The Line art trail, and we have just given permission to extend these for a further three years. Madge Gill "Untitled" print on the rear of first floor, overlooking the garden and the walkway up to Three Mills Green, and the "Juniper" weathervane on the third floor balcony, overlooking Three Mills Lane. These are important additions, and enjoyed by walkers and visitors to the buildings. Inside the Miller's House, cafe area there is currently an exhibit of works by Madge Gill, provided by LB Newham heritage. This is the largest of the LBN exhibitions within the borough, and links nicely with the other Madge Gill works currently showing along the route of The Line.

House Mill was featured in The Wharf publication in March 2023, and this did raise interest in the buildings from the Canary Wharf community, with resultant visitor increase when we opened for the Season in April.

A "big lunch" and community street party was held for the Coronation in 2023, and this was a huge success for local residents and communities, and was attended by the Mayor of Newham.

The one area where we have not been able to return to pre-pandemic numbers is the hire and catering for the meeting rooms, which was a major source of income. With the working from home, and meetings being held by zoom and teams for instance, it is unlikely that the previous hire levels will once again be achieved.

Visitor numbers are the following:

Art Gallery 517
Classroom 570
Meeting Rooms/Events 645
Cafe 6,789
Guided Tours, special openings only 837
Community groups 2,695
Total Visitors numbers 12,053
(excluding digital visitors, and cafe takeaway clients)


HOUSE MILL TRUST LTD (REGISTERED NUMBER: 01928896)

REPORT OF THE TRUSTEES
for the year ended 30 June 2023

FINANCIAL REVIEW
Financial position
The financial results for the year to 30 June 2023 are shown in the attached financial statements (pages 10 to 12).

Total income increased from £36,036 to £43,692 and total expenditure decreased from £52,182 to £39,869 in comparison with the previous period. This is largely because of the pandemic, and resultant closure of activities.

These expenses included additional maintenance items, pilot replacement window, continuing floorboard replacement, fire alarm upgrade and digitalisation of the Trust's archive.

There was a net increase in funds of £3,823 (2022 - net decrease £16,156) with total unrestricted funds (excluding the designated funds) carried forward of £(6,132) (2022- £(9,955).

Reserves and Investment Policy and Risk Review
It is the policy of the charity to maintain unrestricted funds at a level which equates to at least three months unrestricted expenditure. As at 30 June 2023 the required level was £9,970. This provides sufficient funds to cover administration and support costs on an ongoing basis. Unrestricted funds were maintained above this level throughout the year.

At the year end the charity had negative reserves of £(6,132) (2022 - £(9,955). In calculating the reserves, the trustees have excluded from total funds, the value of fixed assets less related loan obligations.

The trustees have always reviewed the major risks to which the charity is exposed, in particular those related to the assets including operations and finances of the charity, the pandemic was an obvious one and the continued and increased problem of flooding is another. However, during the reporting period unexpected risks were exposed which impacted on our finances.

The House Mill and The Miller's House have been valued for insurance purposes at £12,193,842 and £2,009,499 respectively. These are rebuilding valuations.


Business Plan
The Trust's Business Plan contains full details of the restoration project, the Trust's operation, and income and expenditure projections for five years post restoration. The Plan is robust and a living document.The business case proposes that with the employment of key staff, supported by the volunteer team, the House Mill itself will be open for at least 5 days a week, with some seasonal variations. The café will be open up to 7 days a week (depending upon measured footfall) and also with seasonal variations. It includes a full range of Events, corporate hire, meeting room hire, gin tastings and weddings. Successful pilots have been held of all planned new activities.

The Plan indicates that the Trust will be financially sustainable, with income from education, entrance fees, events, corporate hire, weddings, enhanced café and shop and hydro-electricity. There is further income from tenants and potential for income from an evening/weekend bar, but these have not been included into the Plan, at this stage.

Disappointingly, as part of their financial cutbacks to the south of the park, the annual grant of £3,000 from Lee Valley Regional Park Authority has been withdrawn.

The Trust had planned to extend its activities, to challenge both the Activity Plan and the Business Plan, and to continue financial sustainability in advance of the restoration project. However, this has not been possible in the light of the negative outcomes of the pandemic, as stated elsewhere above.However, the Trust is working to establish new business models and previous income streams in some areas are unlikely to return to pre-pandemic levels.

HMT is licensed by the LB Newham as a an approved Premises for Marriages in Pursuance of Section 26(1) of The Marriage Act 1949 and as a Venue for Civil Partnerships in Pursuance of Section 6(3a)(A) of The Civil Partnership Act 2004. Only one wedding was possible during this year, as in the majority of weddings a long lead in time is required.


HOUSE MILL TRUST LTD (REGISTERED NUMBER: 01928896)

REPORT OF THE TRUSTEES
for the year ended 30 June 2023

The third-floor room continues to be rented to another charitable organisation, Chain Reaction Theatre Company. They are a small charity, which has been working for more than 25 years; delivering education and inspiring young people to make positive choices about issues that affect their day to day lives. Chain Reaction also uses other parts of the building for education and its own board meetings.

Prospects
Three Mills Island remains in a period of regeneration, with several local major regeneration projects underway or proposed. The House Mill is on the cusp of all of them but not directly included in any, although the Trust is in discussion with the main developers and the planning authorities, and in particular, the LLDC there is, as yet, nothing positive to report. The developments, in the main, a mixture of residential and business use, give the Trust the possibility of Sec 106 benefits. These developments are constantly monitored by one of our advisors who is in regular contact with the relevant Planning Authorities and developers.

LLDC is currently the designated planning authority for the Three Mills area, and in June 2013 it began a public consultation process for plans to regenerate the Bromley by Bow area. This is of enormous importance to the House Mill restoration project. We have previously quoted on the LLDC literature regarding the regeneration of Bromley by Bow and the new conservation area.

The core of the Legacy Corporation's role, as defined by the Mayor of London, is "to promote and deliver physical, social, economic and environmental regeneration in the Olympic Park and surrounding area". The Southern Olympic Fringe comprises Pudding Mill Lane, Sugar House Lane, Three Mills, and Bromley by Bow. The area was incorporated within the LLDC's boundary for inter alia the following reasons:

- It has a huge regeneration potential given its strategic location, extensive areas of unused or underused industrial land and unique waterway and heritage setting.
- The prospects of successful regeneration are assisted by the Legacy Corporation as a single regeneration organisation.
- Securing the delivery of the regeneration of Bromley by Bow, in particular the connectivity improvements, is key to unlocking the potential of the Three Mills site.

As previously reported, the Trust is always encouraged and motivated by these kinds of statements. The Trust contributed to the LDDC consultation document regarding the Bromley by Bow SPD Masterplan and Public Realm Strategy in November 2016. More recently the Trust has contributed to the consultation on the new LLDC Three Mills Conservation Area. Within this we are seeking to retain our existing section 106 parking facility and obtaining further section 106 gains.

The Trust continues its relationship with Historic England and pre-lockdown was in talks around the planned refurbishment works to the buildings' exteriors. We understand that House Mill is one of their priority projects for restoration.

The Trust also acknowledges the encouragement and support of numerous bodies, and it will continue to build on those relationships in the interests of the Mill and its environs.

Our risk assessment process continues to be reviewed and maintained. We are working towards further improving our website, and our other social media, to become our main information points. This will enable House Mill to become more visible even when the building is physically closed, and to ensure that both the heritage of the building, and the ongoing and future activities, are widely publicized.

We remain convinced that the Trust has a unique and magnificent project in the House Mill. We believe the Trust can go forward with confidence, moving towards successful fundraising in the future enabling the restoration to take place and saving the largest remaining tidal mill in the world for generations to come.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


HOUSE MILL TRUST LTD (REGISTERED NUMBER: 01928896)

REPORT OF THE TRUSTEES
for the year ended 30 June 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. The Trustees have approved Articles of Association that represent the Trusts current objects, and which have been filed with Companies House and the Charity Commission.

The Code of Governance prepared as part of the development and restructuring of the management of the restoration project and the Trust continues to be significant, well managed and undergoes regular review.

Additionally, the recent plethora of Codes of Practice, Guidelines, GDPR and changes in legislation place further pressures on trustees and volunteers alike. The trust is conscious of the need to comply, to these policies, and will endeavour to do so. Governance covers a broad spectrum of requirements. The Governance Working Group is drawing up new guidance, in line with the NCVO guidance for micro charities, but with particular relevance to House Mill Trust, and these will ensure that The Trust has correct procedures in place covering all aspects of our activities.

Recruitment and appointment of new trustees
The Articles of Association stipulate that there must be a minimum of three trustees and there is no maximum number of trustees. Additional trustees may be appointed by the existing trustees at any time, either to fill a casual vacancy or as an addition to the existing trustees. Any trustees so appointed will hold office only until the next Annual General Meeting and will then be eligible for re-election.

Potential trustees are invited to informally attend trustee meetings prior to appointment and a comprehensive induction programme is available. Additionally, individual trustees may undertake external training in a particular area of their role on the Governing Body.

Induction and Training of new trustees
The charitable entity strives to ensure equal opportunities and diversity in the employment of staff and trustee appointments. Selection criteria and procedures are regularly reviewed to ensure that individuals are selected, promoted and treated on the basis of their relevant merits and abilities.

Organisational Structure
The company was once again managed and run during the year by volunteers. Strategic, financial, and technical management is exercised by the appropriate directors. Operational management is mostly undertaken by three of the directors, who have involvement with volunteers, operations and events. The need for operational staff is identified and it is hoped that once the pandemic has passed that funding will become available towards this.

The Trust remains conscious of the need to maintain its trustee numbers and expertise, going forward.

Working Groups
Each group is chaired by a Trustee with each working group deciding its own agenda, meeting regularly, and reporting actions directly to the board. The members consist of Trustees, Advisors and key partners, reporting back to the main board.

For much of this year the working groups have either met largely by zoom or been put on hold.

All directors of the company are also trustees of the charity and there are no other trustees. At each Annual General Meeting, one-third of the directors (the longest serving) are obliged to retire from office. Each director so retiring is eligible for re-election. The Board has the power to appoint additional directors; any director co-opted during the year must stand for election at the next annual general meeting. Trustees with relevant experience or expertise are sought through canvassing and advertising and newly appointed trustees are provided with relevant training and induction.

Going forward we also hope to attract more of the immediately local communities, and young people. As the season progresses we will host some "meet the neighbours" initiatives to introduce them to this site, and also to encourage new and existing residents to join us on the journey, and to share their thoughts both on its current use and potential for wider use, in the future.


HOUSE MILL TRUST LTD (REGISTERED NUMBER: 01928896)

REPORT OF THE TRUSTEES
for the year ended 30 June 2023

Once again, much credit must be given to the greater involvement of our volunteers who have continued to embrace the new and wide-ranging opportunities, we have brought to House Mill during the last few years. Our volunteers ensure we remain open for the public on our regular published openings. We thank them all for their continued support without which the Trust could not operate.We were saddened by of the death of one of our maintenance team, Andy Poole, in January 2023. Andy was a very popular and much valued volunteer and is missed by all his colleagues.

Induction and training of new trustees
The charitable entity strives to ensure equal opportunities and diversity in the employment of staff and trustee appointments. Selection criteria and procedures are regularly reviewed to ensure that individuals are selected, promoted and treated on the basis of their relevant merits and abilities.

Risk management
The trustees have reviewed the risks to which the charity is exposed and ensures appropriate controls are in place. The Trust has re-valued its properties for insurance purposes.

The risk register is being rewritten to reflect the working group definitions. Each of the working groups will identify the risks to assets within their responsibilities and ensure the treatment of those risks is managed effectively.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01928896 (England and Wales)

Registered Charity number
292336

Registered office
The Millers House
Three Mill Lane
Bromley-by-Bow
London
E3 3DU

Trustees
Mr J Haggerty (Chairman)
Mr W Hill
Ms B Charters
Mr A Cregan
Miss F Patel resigned 12 January 2024
Mr D Harbord
Mr A Spalding
Mr J A Walters

Company Secretary
Mr J Haggerty


HOUSE MILL TRUST LTD (REGISTERED NUMBER: 01928896)

REPORT OF THE TRUSTEES
for the year ended 30 June 2023

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01928896 (England and Wales)

Registered Charity number
292336

Registered office
The Millers House
Three Mill Lane
Bromley-by-Bow
London
E3 3DU

Trustees
Mr J Haggerty (Chairman)
Mr W Hill
Mrs B Charters
Mr A Cregan
Miss F Patel resigned 12 January 2024
Mr D Harbord
Mr T Spalding
Mr J A Waltersr

Company Secretary
Mr J Haggerty

Independent Examiner
Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

PRINCIPAL ACTIVITY
The principal activity of the company is the House Mill Restoration Project, and the aim of The House Mill Trust, formally the River Lea Tidal Mill Trust continues to be the:

- Restoration of the machinery to working condition;

- Development of House Mill into an education and community resource;

- Production of hydroelectric power by using the 18th century wheels alongside 21st century turbines; unique in delivering alternative energy using technology spanning four centuries.

All of which involves the raising and management of funds to restore and maintain the 1776 Grade I listed House Mill, a tidal mill at Three Mills, London E3 and the largest remaining one in the World.

The company sold its freehold and leasehold interests in The North Woolwich Old Station Museum Pier Road, London E16.

The company is limited by guarantee of £1 per member (company number 01928896), governed by a Memorandum and Articles of Association and is a registered charity (number 292336).


HOUSE MILL TRUST LTD (REGISTERED NUMBER: 01928896)

REPORT OF THE TRUSTEES
for the year ended 30 June 2023

Approved by order of the board of trustees on 23 September 2024 and signed on its behalf by:





Mr J Haggerty (Chairman) - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
HOUSE MILL TRUST LTD

Independent examiner's report to the trustees of House Mill Trust Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with 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)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Mr Thurairatnam Sudarshan

Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

23 September 2024

HOUSE MILL TRUST LTD

STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 30 June 2023

2023 2022
Unrestricted Designated Restricted Total Total
fund fund funds funds funds
Notes £    £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 718 - - 718 3,826

Other trading activities 2 4,587 - - 4,587 4,350
Investment income 3 38,387 - - 38,387 27,850
Total 43,692 - - 43,692 36,026

EXPENDITURE ON
Raising funds 5,721 - - 5,721 7,080

Charitable activities
General 34,148 - - 34,148 45,102
Total 39,869 - - 39,869 52,182

NET
INCOME/(EXPENDITURE)

3,823

-

-

3,823

(16,156

)


RECONCILIATION OF FUNDS
Total funds brought forward (9,955 ) 235,595 2,500,307 2,725,947 2,742,103

TOTAL FUNDS CARRIED
FORWARD

(6,132

)

235,595

2,500,307

2,729,770

2,725,947

HOUSE MILL TRUST LTD (REGISTERED NUMBER: 01928896)

BALANCE SHEET
30 June 2023

2023 2022
Unrestricted Designated Restricted Total Total
fund fund funds funds funds
Notes £    £    £    £    £   
FIXED ASSETS
Tangible assets 7 126,050 - 2,499,578 2,625,628 2,512,015

CURRENT ASSETS
Stocks 8 1,000 - - 1,000 1,000
Debtors 9 12,320 - - 12,320 1,898
Cash at bank 34,852 235,595 729 271,176 411,349
48,172 235,595 729 284,496 414,247

CREDITORS
Amounts falling due within one
year

10

(180,354

)

-

-

(180,354

)

(200,315

)

NET CURRENT
ASSETS/(LIABILITIES)

(132,182

)

235,595

729

104,142

213,932

TOTAL ASSETS LESS
CURRENT LIABILITIES

(6,132

)

235,595

2,500,307

2,729,770

2,725,947

NET ASSETS (6,132 ) 235,595 2,500,307 2,729,770 2,725,947
FUNDS 12
Unrestricted funds 229,463 225,640
Restricted funds 2,500,307 2,500,307
TOTAL FUNDS 2,729,770 2,725,947

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.


HOUSE MILL TRUST LTD (REGISTERED NUMBER: 01928896)

BALANCE SHEET - continued
30 June 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 23 September 2024 and were signed on its behalf by:





Mr J Haggerty (Chairman) - Trustee

HOUSE MILL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 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.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the charitable company qualifies as a small charitable company.

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.


Furniture & equipment - 15% on reducing balance

Debtors
Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to be present value of the future cash receipt where such discounting is material.

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 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.

Cash at bank and in hand
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months form the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits


HOUSE MILL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

1. ACCOUNTING POLICIES - continued

Creditors and provision
Creditors and provision are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provision are recognised at the moment the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payments where such discounting is material.

Service provided by volunteers
For the purpose of these accounts, no monetary value has been placed on volunteer services as it cannot be quantified reliably.

2. OTHER TRADING ACTIVITIES
2023 2022
£    £   
Cafe sales 4,587 4,350

3. INVESTMENT INCOME
2023 2022
£    £   
Rent and hire of facilities 38,387 27,850

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 448 526

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022.



HOUSE MILL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

6. INDEPENDENT EXAMINERS FEES

The Independent Examiners fees for the period were £3,200.

7. TANGIBLE FIXED ASSETS
Freehold Furniture
property & equipment Totals
£    £    £   
COST
At 1 July 2022 2,509,030 50,208 2,559,238
Additions 114,061 - 114,061
At 30 June 2023 2,623,091 50,208 2,673,299
DEPRECIATION
At 1 July 2022 - 47,223 47,223
Charge for year - 448 448
At 30 June 2023 - 47,671 47,671
NET BOOK VALUE
At 30 June 2023 2,623,091 2,537 2,625,628
At 30 June 2022 2,509,030 2,985 2,512,015

No depreciation has been provided against the cost of the freehold property on the basis that the residual value will be higher than the cost stated in the financial statements.

8. STOCKS
2023 2022
£    £   
Stocks 1,000 1,000

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
VAT 12,320 1,898


HOUSE MILL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 11) 177,154 197,315
Accruals and deferred income 3,200 3,000
180,354 200,315

11. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year on demand:
Bank overdrafts 177,154 197,315

12. MOVEMENT IN FUNDS
Net
movement At
At 1.7.22 in funds 30.6.23
£    £    £   
Unrestricted funds
General fund (9,955 ) 3,823 (6,132 )
Restoration of House Mill 235,595 - 235,595
225,640 3,823 229,463
Restricted funds
Grant aided building restoration works (pre
2003)

2,497,597

-

2,497,597
Refurbishment of cafe 2,710 - 2,710
2,500,307 - 2,500,307
TOTAL FUNDS 2,725,947 3,823 2,729,770

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 43,692 (39,869 ) 3,823

TOTAL FUNDS 43,692 (39,869 ) 3,823


HOUSE MILL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.7.21 in funds 30.6.22
£    £    £   
Unrestricted funds
General fund 6,201 (16,156 ) (9,955 )
Restoration of House Mill 235,595 - 235,595
241,796 (16,156 ) 225,640
Restricted funds
Grant aided building restoration works (pre
2003)

2,497,597

-

2,497,597
Refurbishment of cafe 2,710 - 2,710
2,500,307 - 2,500,307
TOTAL FUNDS 2,742,103 (16,156 ) 2,725,947

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 36,026 (52,182 ) (16,156 )

TOTAL FUNDS 36,026 (52,182 ) (16,156 )

Name of fund

Grant aided building restoration works (pre 2003) To restore the heritage Grade I listed House Mill itself,
and built the adjoining Miller's House.

Restoring House Mill Projects To enable us to employ a range of consultants to work up
the eventual major restoration project.

Refurbishment of café To refurbishment of the café.

Bag for help To restore community garden

Designated fund
The trustees have decided to designate the funds received from the sale of the investment property towards the restoration project of the House Mill.


HOUSE MILL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 June 2023 nor 30 June 2022.