Argos Hill Windmill Trust Limited - Charities report

REGISTERED COMPANY NUMBER: 07249293 (England and Wales)

REGISTERED CHARITY NUMBER: 1141597

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Argos Hill Windmill Trust Limited

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

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 2024. 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.

ACHIEVEMENTS AND PERFORMANCE

Works undertaken in 2024 involved the reinforcement and repair of the roundhouse roof to stop it leaking. Radial oak planks had been fitted in a previous restoration which had expanded and twisted over time. An additional ring beam has been fitted in sections to support the roof and a proprietary covering has been applied to provide weatherproofing.

The fantail has finally been restored to working order and reinforced as necessary. However, it cannot be fully tested until permission is granted to restore the Mill's turning circle.

The striking gear which facilitates the opening and closing of the shutters in each of the sails have been serviced and further modifications are anticipated in 2025.

The Trustees wish to express their sincere thanks to all the volunteers, visitors and donors for their continuing support throughout the year.

FINANCIAL REVIEW

Reserves policy

The trustees maintain sufficient reserves to support future charitable activities.

The charity had net inflow of resources of £691 during the year and had reserves of £13,301 as at 31 December 2024.

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.

Induction and training of new trustees

New trustees go through a formal induction and training process.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07249293 (England and Wales)

Registered Charity number

1141597

Registered office

Thatcher House

12 Mount Ephraim

Tunbridge Wells

Kent

TN4 8AS

Trustees

G W Daughtrey Director

A F H L Corneille Beaupain Director (resigned 6/8/2025)

C Bottomley Director

D Stiff Director

C H Marshall Director

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 16 September 2025 and signed on its behalf by:

G W Daughtrey - Trustee

2024

2023

Unrestricted

Endowment

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

1,873

-

1,873

2,488

EXPENDITURE ON

Construction Costs

733

-

733

2,049

Charitable activities

2

General

449

-

449

549

Total

1,182

-

1,182

2,598

NET INCOME/(EXPENDITURE)

691

-

691

(110

)

RECONCILIATION OF FUNDS

Total funds brought forward

12,610

-

12,610

12,720

TOTAL FUNDS CARRIED FORWARD

13,301

-

13,301

12,610

2024

2023

Unrestricted

Endowment

Total

fund

funds

Notes

£

CURRENT ASSETS

Cash at bank

13,301

-

13,301

12,610

NET CURRENT ASSETS

13,301

-

13,301

12,610

TOTAL ASSETS LESS CURRENT
LIABILITIES

13,301

-

13,301

12,610

NET ASSETS

13,301

-

13,301

12,610

FUNDS

5

Unrestricted funds

13,301

12,610

TOTAL FUNDS

13,301

12,610

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.

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 16 September 2025 and were signed on its behalf by:

G W Daughtrey - Trustee

C H Marshall - Trustee

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

-

33% on cost

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.

2.	CONSTRUCTION COSTS

31.12.24

31.12.23

£

Windmill restoration, repairs & maintenance cost

732

2,051

3.	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.

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024 and 31 December 2024

458

DEPRECIATION

At 1 January 2024 and 31 December 2024

458

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.24

in funds

31.12.24

£

Unrestricted funds

General fund

12,610

691

13,301

TOTAL FUNDS

12,610

691

13,301

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

1,873

(1,182

)

691

TOTAL FUNDS

1,873

(1,182

)

691

Comparatives for 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

12,720

(110

)

12,610

Comparative 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

2,488

(2,598

)

(110

)

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

12,720

581

13,301

TOTAL FUNDS

12,720

581

13,301

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

4,361

(3,780

)

581

TOTAL FUNDS

4,361

(3,780

)

581

6.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2024.