| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 19 |
| Historic Suffolk Ltd (Registered number: 01089324) |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Report of the Trustees |
| for the Year Ended 31 December 2024 |
| 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 31 December 2024. 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 2019). |
| The Charity is a charitable company limited by guarantee and is governed by a Memorandum and Articles of Association which were last amended on 10 June 2014. Its objects are to further the preservation, in appropriate settings for the benefit of the nation, of buildings and other such structures or land of special beauty or special historic or architectural interest. |
| Each director of the Trust undertakes, as a member of the Trust, to contribute to the assets of the Trust such amounts as may be required, not exceeding one pound. Otherwise the directors have no interest in the company. |
| OBJECTIVES AND ACTIVITIES |
| Public benefit |
| The Directors confirm that they have referred to the Commission's general guidance on Public Benefit when reviewing the Charity's aims and objectives and in formulating future plans. |
| STRATEGIC REPORT |
| Financial review |
| Annual Review and Forward Plans |
| I am pleased to report that our three buildings continue to thrive, with visitor numbers up on the previous year. The condition of the buildings is good, with Pakenham Watermill looking resplendent with its re-painted exterior. It is hoped that Thelnetham Windmill will be redecorated in 2025. There are ambitious plans to begin works on transforming the interior of Little Hall to how it appeared during the Gayer-Andersons' ownership. |
| The Sizewell C application to flood land alongside Pakenham Fen continues to cause concern, particularly as EDF continue to maintain silence on their plans. |
| The Trust's efforts to find a sustainable future for Brandon Station have brought about a ray of hope, in the form of a potential leaseholder. The change of government means that our contacts with MP's and ministers have to be re-established, and in the meantime, the condition of some at-risk stations in the region only worsens. |
| A proposal for the Trust to take responsibility for Walpole Old Chapel from the Historic chapels Trust came to nothing. It was agreed that the Chapel's group of volunteers were fully capable of managing the extensive repairs required to the fabric. |
| In spite of the continued unstable international political climate and the dire state of the UK's economy, the Trust's finances remain strong, and our stalwart volunteers continue to manage our buildings in a most professional way. Altogether the Trust is in very good shape. |
| Grants etc |
| Historic Suffolk is most grateful to the organisations for their kind contributions, during 2024, to various projects undertaken by the Trust. Refer to note 2 further information of the organisations. |
| Investment policy and objectives |
| It is the policy of the charity to hold surplus unrestricted funds on deposit with the Charities Official Investment Fund, as these may be needed at relatively short notice for urgent repairs and maintenance to Little Hall, Pakenham Water Mill and Thelnetham Windmill. |
| Historic Suffolk Ltd (Registered number: 01089324) |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Report of the Trustees |
| for the Year Ended 31 December 2024 |
| STRATEGIC REPORT |
| Financial review |
| Reserves policy |
| The Charity plans to reserve £150,000 of unrestricted funds to mitigate the financial impact of possible risks to maintaining the charity's objectives. The risks are perceived as; |
| a. Unforeseen emergencies such as a major building repair bill. |
| b. Unforeseen deficits in day to day operating revenues - for example caused by unplanned closure of buildings. |
| Further the Reserved funds could be required for; |
| c. A future major asset purchase or project that requires some level of matched funding. |
| d. Funding short term deficits in a cash budget - for example while waiting for a funding grant. |
| The Reserves Policy will be reviewed by the Charity's Trustees when necessary, but at least once a year at the last Trustees' meeting in the calendar year. |
| The funds will be held collectively in the Bank accounts of the Trust and its constituent building. The levels held in each account will be agreed as part of the review process. |
| The charity has cash reserves of £403,015 (2023 £266,968) freely available to spend on any of the chanty's purposes. |
| Suffolk Architectural Heritage Trust Donation |
| Historic Suffolk (HS) has enjoyed a long association with the Suffolk Architectural Heritage Trust (SAHT). Unlike HS, SAHT owned no buildings, and its main activity was rescuing buildings at risk, re-purposing them where necessary and finding new owners, using its capital as a revolving fund. However, for the past several years SAHT had been inactive, and its trustees decided to wind up the charity when its chairman, John Norman, retired due to serious health problems. Given the close ties between SAHT and HS, along with their shared objectives, the board of SAHT decided to gift its capital funds to HS, to be used in pursuit of its core activities. The trustees of HS are very grateful for the donation, which will enable them to widen their scope of activities. |
| Historic Suffolk Ltd (Registered number: 01089324) |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Report of the Trustees |
| for the Year Ended 31 December 2024 |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| The Board of Directors of the Charity normally meets four times a year. Its members are selected by the board by reference to their particular suitability to one or other aspect of the charity's work. Three separate property management committees also exist, one for Little Hall, one for Pakenham Water Mill and the other for Thelnetham Windmill.The Board of Directors approves annual budgets for these three properties and also reviews the Charity's finances at its regular meetings. |
| Charity law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the surplus or deficit of the Trust for that period. In preparing those financial statements, the Directors have: |
| - Selected suitable accounting policies and then applied them consistently; |
| - made judgements and estimates that are reasonable and prudent; |
| - stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
| - prepared the financial statements on the going concern basis. |
| The Directors have overall responsibility for ensuring that the Charity has appropriate systems of controls financial and otherwise. They are also responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with external requirements. They are also responsible for safeguarding assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that: |
| - the Charity is operating efficiently and effectively; |
| - the assets are safeguarded against unauthorised use or disposition; |
| - proper records are maintained and financial information used within the charity or for publication is reliable; |
| - the Charity complies with relevant laws and regulations. |
| The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. |
| As a matter of routine, the board keeps under review any risks to which the Charity is subject and believes its significant number of volunteer helpers are well positioned to bring evolving risks to its attention so as to enable mitigating action to be taken where necessary. An annual risk assessment was carried out during the year. |
| The report of the directors has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| By Order of the Board |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Historic Suffolk Ltd (Registered number: 01089324) |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Report of the Trustees |
| for the Year Ended 31 December 2024 |
| Trustees |
| Independent Examiner |
| James Knights |
| Knights Lowe Chartered Accountants |
| Eldo House |
| Kempson Way |
| Suffolk Business Park |
| Bury St Edmunds |
| Suffolk |
| IP32 7AR |
| Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on |
| Independent Examiner's Report to the Trustees of |
| Historic Suffolk Ltd |
| Independent examiner's report to the trustees of Historic Suffolk Ltd ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024. |
| 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 |
| Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. |
| 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. |
| James Knights |
| The Institute of Chartered Accountants in England and Wales |
| Knights Lowe Chartered Accountants |
| Eldo House |
| Kempson Way |
| Suffolk Business Park |
| Bury St Edmunds |
| Suffolk |
| IP32 7AR |
| 10 June 2025 |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Statement of Financial Activities |
| (Incorporating an Income and Expenditure Account) |
| for the Year Ended 31 December 2024 |
| 2024 | 2023 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations, gifts and grants | 2 |
| Charitable activities | 5 |
| Museum and mill receipts | 3 |
| Investment income | 4 |
| Total |
| EXPENDITURE ON |
| Fundraising and marketing | 6 |
| Direct charitable expenditure | 7 |
| Total |
| Net gains on investments |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 2,689,501 |
| Historic Suffolk Ltd (Registered number: 01089324) |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 13 |
| Investments | 14 |
| CURRENT ASSETS |
| Stocks | 15 |
| Debtors | 16 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 17 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 18 |
| Unrestricted funds | 2,632,825 |
| Restricted funds | 56,676 |
| TOTAL FUNDS | 2,689,501 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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. |
| Historic Suffolk Ltd (Registered number: 01089324) |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Balance Sheet - continued |
| 31 December 2024 |
| 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 |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. |
| 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 |
| No depreciation is provided in respect of freehold property. The properties are maintained such that residual value is equivalent to valuation and any depreciation charge would be immaterial. At the request of the Museums and Galleries Commission, the contents of Little Hall are shown at a nil value. Additions are fully depreciated in the year of purchase. Depreciation on other contents and equipment is provided at 20% per annum. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees |
| Designated funds |
| Other funds listed under unrestricted funds are designated by the Trustees for the following purposes: |
| Pakenham Water Mill | External redecoration |
| Trust | Work relating to acquisition |
| Little Hall | Quinquennial report work |
| Thelnetham Windmill | Improvements/ maintenance projects |
| Restricted funds |
| 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. |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 1. | ACCOUNTING POLICIES - continued |
| Fund accounting |
| There funds are named in accordance with their restriction: |
| Pakenham Water Mill |
| Little Hall |
| Thelnetham Windmill |
| 2. | DONATIONS, GIFTS AND GRANTS |
| 2024 | 2023 |
| £ | £ |
| Gifts |
| Grants |
| Grants received, included in the above, are as follows: |
| 2024 | 2023 |
| £ | £ |
| Marsh Christian Trust | - | 600 |
| R Mann Charitable Trust | 1,880 | 1,968 |
| Irving Memorial Trust | - | 2,000 |
| Fitton Charitable Trsut | - | 564 |
| Lord Belstead Charitable Trust | 5,960 | - |
| Aurelia Charitable Trust | 2,500 | 5,640 |
| Repainting Grant | - | 1,760 |
| Williams Charitable Trust | - | 5,640 |
| LMC Charitable Trust | - | 2,000 |
| Pilgrim Trust | - | 5,000 |
| Will Charitable Trust | - | 1,000 |
| Swire Charitable Trust | - | 10,000 |
| LM Carter Charitable Trust | 3,760 | - |
| 14,100 | 36,172 |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 3. | MUSEUM AND MILL RECEIPTS |
| 2024 | 2023 |
| £ | £ |
| Shop income |
| 4. | INVESTMENT INCOME |
| 2024 | 2023 |
| £ | £ |
| Deposit account interest |
| 5. | INCOME FROM CHARITABLE ACTIVITIES |
| 2024 | 2023 |
| Activity | £ | £ |
| Rent receivable | Little Hall | 4,000 | - |
| Rent receivable | Pakenham Water Mill | 8,400 | 8,400 |
| Rent receivable | General | - | 3,000 |
| 6. | FUNDRAISING AND MARKETING |
| Raising donations and legacies |
| 2024 | 2023 |
| £ | £ |
| Marketing |
| Fundraising |
| 9,716 | 11,485 |
| Other trading activities |
| 2024 | 2023 |
| £ | £ |
| Opening stock |
| Closing stock | ( |
) | ( |
) |
| (852 | ) | (197 | ) |
| Aggregate amounts | 8,864 | 11,288 |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 7. | CHARITABLE ACTIVITIES COSTS |
| Support |
| Direct | costs (see |
| Costs | note 8) | Totals |
| £ | £ | £ |
| Little Hall | 23,990 | 1,614 | 25,604 |
| Pakenham Water Mill | 35,003 | - | 35,003 |
| Thelnetham Windmill | 19,407 | 26 | 19,433 |
| General | 10,367 | 3,443 | 13,810 |
| 88,767 | 5,083 | 93,850 |
| 8. | SUPPORT COSTS |
| Managemen |
| £ |
| Little Hall | 1,614 |
| Thelnetham Windmill | 26 |
| General | 3,443 |
| 5,083 |
| 9. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 2024 | 2023 |
| £ | £ |
| Depreciation - owned assets |
| 10. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 11. | STAFF COSTS |
| 2024 | 2023 |
| £ | £ |
| Wages and salaries |
| 74 | 5,420 |
| The average monthly number of employees during the year was as follows: |
| 2024 | 2023 |
| Directors | 9 | 9 |
| Part time staff | 2 | 2 |
| 12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| funds | funds | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations, gifts and grants |
| Charitable activities |
| Museum and mill receipts |
| Investment income |
| Total |
| EXPENDITURE ON |
| Fundraising and marketing |
| Direct charitable expenditure |
| 86,482 | - |
| Total |
| Net gains on investments |
| NET INCOME |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
| Unrestricted | Restricted | Total |
| funds | funds | funds |
| £ | £ | £ |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 2,630,471 | 56,676 |
| TOTAL FUNDS CARRIED FORWARD | 2,632,825 | 56,676 | 2,689,501 |
| 13. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and |
| property | fittings | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2024 and 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| Cost or valuation at 31 December 2024 is represented by: |
| Fixtures |
| Freehold | and |
| property | fittings | Totals |
| £ | £ | £ |
| Valuation in 2017 | 1,259,154 | - | 1,259,154 |
| Cost | 1,047,152 | 56,254 | 1,103,406 |
| 2,306,306 | 56,254 | 2,362,560 |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 1,047,152 | 1,047,152 |
| All three properties were valued on 30 May 2017 by J C Casson FRICS, an independent valuer as defined in the RICS Valuation and Professional Standards 2014. |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 13. | TANGIBLE FIXED ASSETS - continued |
| At the request of the Area Museum Service, the following Clause 3s was added to the Memorandum and Articles of Association at the Annual General Meeting in 1990: |
| "To preserve intact any contents such as furniture, paintings, objects and any other exhibits historically associated with the Trust's individual properties, to buy or acquire further associated items." |
| 14. | FIXED ASSET INVESTMENTS |
| Listed |
| investments |
| £ |
| MARKET VALUE |
| At 1 January 2024 |
| Additions |
| Revaluations |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 | 33,234 |
| At 31 December 2023 | 31,320 |
| There were no investment assets outside the UK. |
| Cost or valuation at 31 December 2024 is represented by: |
| Listed |
| investments |
| £ |
| Valuation in 2022 | (686 | ) |
| Valuation in 2023 | 2,006 |
| Valuation in 2024 | 1,914 |
| Cost | 30,000 |
| 33,234 |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 15. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Stocks |
| 16. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| 17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Accruals and deferred income |
| 18. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.1.24 | in funds | 31.12.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 1,311,665 | 99,668 | 1,411,333 |
| Pakenham Water Mill | 12,000 | 26,259 | 38,259 |
| Trust | 17,006 | - | 17,006 |
| Little Hall | 25,000 | 23,254 | 48,254 |
| Thelnetham Windmill | 8,000 | 1,271 | 9,271 |
| General fund revaluation reserve | 1,259,154 | - | 1,259,154 |
| 150,452 |
| Restricted funds |
| Pakenham Water Mill | 44,000 | - | 44,000 |
| Little Hall | 10,916 | - | 10,916 |
| Thelnetham windmill | 1,760 | - | 1,760 |
| - |
| TOTAL FUNDS | 150,452 | 2,839,953 |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 18. | MOVEMENT IN FUNDS - continued |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Gains and | Movement |
| resources | expended | losses | in funds |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 123,379 | (25,625 | ) | 1,914 | 99,668 |
| Pakenham Water Mill | 55,954 | (29,695 | ) | - | 26,259 |
| Little Hall | 51,116 | (27,862 | ) | - | 23,254 |
| Thelnetham Windmill | 20,803 | (19,532 | ) | - | 1,271 |
| ( |
) | 150,452 |
| TOTAL FUNDS | ( |
) | 150,452 |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.1.23 | in funds | 31.12.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 1,311,317 | 348 | 1,311,665 |
| Pakenham Water Mill | 12,000 | - | 12,000 |
| Trust | 15,000 | 2,006 | 17,006 |
| Little Hall | 25,000 | - | 25,000 |
| Thelnetham Windmill | 8,000 | - | 8,000 |
| General fund revaluation reserve | 1,259,154 | - | 1,259,154 |
| 2,630,471 | 2,354 | 2,632,825 |
| Restricted funds |
| Pakenham Water Mill | 44,000 | - | 44,000 |
| Little Hall | 10,916 | - | 10,916 |
| Thelnetham windmill | 1,760 | - | 1,760 |
| 56,676 | - | 56,676 |
| TOTAL FUNDS | 2,687,147 | 2,354 | 2,689,501 |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 18. | MOVEMENT IN FUNDS - continued |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Gains and | Movement |
| resources | expended | losses | in funds |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 138,541 | (138,193 | ) | - | 348 |
| Trust | - | - | 2,006 | 2,006 |
| 138,541 | (138,193 | ) | 2,006 | 2,354 |
| TOTAL FUNDS | 138,541 | (138,193 | ) | 2,006 | 2,354 |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.1.23 | in funds | 31.12.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 1,311,317 | 100,016 | 1,411,333 |
| Pakenham Water Mill | 12,000 | 26,259 | 38,259 |
| Trust | 15,000 | 2,006 | 17,006 |
| Little Hall | 25,000 | 23,254 | 48,254 |
| Thelnetham Windmill | 8,000 | 1,271 | 9,271 |
| General fund revaluation reserve | 1,259,154 | - | 1,259,154 |
| 2,630,471 | 152,806 | 2,783,277 |
| Restricted funds |
| Pakenham Water Mill | 44,000 | - | 44,000 |
| Little Hall | 10,916 | - | 10,916 |
| Thelnetham windmill | 1,760 | - | 1,760 |
| 56,676 | - | 56,676 |
| TOTAL FUNDS | 2,687,147 | 152,806 | 2,839,953 |
| Historic Suffolk Ltd |
| (Formerly Suffolk Building Preservation |
| Trust Limited) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 18. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming | Resources | Gains and | Movement |
| resources | expended | losses | in funds |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 261,920 | (163,818 | ) | 1,914 | 100,016 |
| Pakenham Water Mill | 55,954 | (29,695 | ) | - | 26,259 |
| Trust | - | - | 2,006 | 2,006 |
| Little Hall | 51,116 | (27,862 | ) | - | 23,254 |
| Thelnetham Windmill | 20,803 | (19,532 | ) | - | 1,271 |
| 389,793 | (240,907 | ) | 3,920 | 152,806 |
| TOTAL FUNDS | 389,793 | (240,907 | ) | 3,920 | 152,806 |
| Revaluation Reserve |
| The general fund revaluation reserve was created by the revaluation of the freehold properties. |
| All three properties were valued on 30 May 2017 by J Casson FRISCS, an independent valuer as defined in the RICS Valuation and Professional Standards 2014. |
| The valuation was based on an open market value, taking into account the historic nature of the properties. together with the cost of additions to date. |
| Thelnetham Windmill was given to the Trust in 2013, the directors valued it as a heritage asset at £25,000. |
| Little Hall and its contents were offered as a gift, unconditionally, by Surrey County Council in 1974 to the Suffolk Preservation Society which decided that Historic Suffolk Ltd, newly set up in 1973, would be the appropriate body to hold and administer the gift. |
| 19. | RELATED PARTY DISCLOSURES |