REGISTERED CHARITY NiIMBER: 1053705
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2026
FOR
RUSKIN MILL LAND TRUST
Bron5ens
Charteied Cerlified A(u)unlants
S*alulory Auditors
Eden House
Two Rivers Business P8rk
Iney
Oxfr>rdshire
OX28 4BL

RUSKIN MILL LAND TRUST
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Page
Reference and Administratlve D•t•51s
R•portofthè Truste
21011
Roport ofthe Independent Audltor¥
12to14
statemenl of Flnanclal Actlvitsès
15
Balan¢• Slfftt
16to 17
Ca$h Flow Statement
18
Not•s to thè Cagh Flow Ststement
19
Notos to the Flnancial Statoments
20to35

RUSKIN MILL LAND TRUST
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 AUGUST 2026
TRUSTEES
Ruskln Will Land Trust Limitgj
The directors of Ruskin Mll Land Trust Limited, the sole trustee of Ruskin Mill Land Trust arè=
Prof8ssor Alison M B Brown
Mr A C H Gordon OBE (resigned 31.08.25)
Mi Angus TaY￿r
Mr Robert Lloyd-Davies
Dr Stafan Gèidgr
Mr Mattias Emou5 lappoinled 1 SeplemL*r 2024)
Mr lan Clements {appointed 7 May 2025)
Ms Roos Naves (appointed 03.12.25)
COUNCIL OF MANAGENIENT
Mr A C H Gordon OBE (Trustse R8presentalivg) Oo yle 31.08.25)
Mi M S Mohamed Iqbal (Chief Financial Manager)
Mr C George (Trust Estates Manager)
Mrs A Whitbread {H8ad of Legal SeNces & Company Secretary)
FOUNDER
MrA C H Gordon OBE
PRINCIPAL AODRESS
Ruskin Mill
Old Bristot Road
Nailsworlh
Gloucesler8hire
GL6 OLA
REGISTERED CHARITY
NUMBER
1053705
AUDITORS
Bronsens
Chartered Certified Accountanls
Stat(rtory Auditors
Eden House
Two Riv818 Busine88 Pa
Iney
Oxfordshire
OX28 4BL
BANKERS
Lloyds TSB P
Tr￿d0S Bank NV
Deanery Road
Bristol
BS1 SAS
Slroud
Gloucestershire
GL5 3BD
SOLICITORS
Royds Wthy King
65 Carter Lane
London
EC4V 5HF
WSP Soticitors
3r1 Rowcroft
Stroud
Gloucestershire
GL5 3BJ
Page 1

RUSKIN ￿LL LAND TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2025
The directors ofthe trustee ￿rnpanY presentthe* report and ffinanLYal ststementsf(srthe yearended 31 August
2025, whlch havo been prepared in accurdance with statutory requirements, tho twst deed and the Slalemont
of Recommended Practice 'Attounling and Rawling by Charili8s'. Thè tharty infomation on page 1 of
these finanrAal statemants fom)8 part of this report.
Throughoul thls report, whertsverrnferen￿ 18 made lo the"charW'. this refaTS lo"Ruskin K4ill Trust".
OWECTlliES AND ACTIVITIES
Obje¢tive$
The char￿$ ob19ct￿. 88 8et oul in its Trust [￿ed arn..
To advance the education of young wple with leaming drftcuNiès 8nd l or behavioural problems
or special educational needs through training in the areas of th8 arts. crafts, 8gthLwlluial and
environmental scA8ncBs, with paitithjlar referen￿ being 9ivgn lo the and ins￿hts of
Rudotf Stain6r in these 8re8S.
bl
To promote research into th8 prartice and devèlopment of those argas of pducation provided that
all ￿SearCh findings wll bo wSd8ty dlssemMiat6d.
Public benefit
As a chartiable trust, the charity seeks lo bengffl the publk through its stated aims whkh are shown above.
Young People aged be￿etn 7- 25 years with sp8a81 needs are the primary benafiuarie$ 81 the five $perAalist
Ileges and four 5peck71i51 schools are operated from the charty's cora propertie8. L¢x*l communities
lo the tharity's site5 also b8nefit from 8(xe$8 lo ¢uAuTal cerths. farn)s and gaidens. Th2 princ7pal function of
Ihe chaTty is Ihe leasing of its proparty Portfolio {11 lo Ruskin Mill Tnjsl Limited to be used forthe charity's first
charitable objective and12> for residenttal purposes in supwrt of those educational pUrP￿e$. In furtherance
of these aims the Trustees have compligd wilh the duty in $.17 of the Charities Acl 2011 Ilhe Acr? to have
du8 regard lo the Charity Commission's published general and relevant subse¢tor guid8n¢e concerniThJ the
operation of the Public Benefjt requirement under the Act.
Strategic Aims
1. Tolgase the charfty's propaty estate for charitabl¥ use in a￿danc0 with its objactives. In fytherance of
this:_
a. To set quality 51andaTds for18SgaeS 8nd tenants to adhere to,, and
b. To fv￿lI all landlord responsibilthe8.
2. To monage Ihe charitys subsKIi8Ties effiThently and 8ff8CtN8ty.
3. To maint8in and develop thechanty's key buildSNJs andwider property portfolio in further?￿of Ihg chariV8
objectives.
4. To Snvesl further into the research 8nd development of the vision and academic method underpinning the
ch*ity.
5. To pursue improvBments of the Estate'5 environmental pgrfor[￿3nce through careful n)8nagemenl and
consideration of Industry guidance and inthatwes.
The charity 1$ attempting lo achieve and measure the slrategicaims in relatDn lo the Chaws property PDrtfolio
through a broad criteria.. improvod condition of the properties. reduced maintenance bathlog and WOTking whh
Ruskin Mill Trust on a longor tem rnaintenance plan. ènsure current leases arè in place, acqui$hion of
appropriate prop&rti8s to further the objectives of thg charlty and disposals where necessary to ensure best
use of charty funds, success in obtaining capital grants ID a881sI in the dèvelopm8nt of lh& t*ariVs key
buildings and appropriate investment into the reg8neMtion of land and buildings.
In respect of research, actiwtles 8tt0ss the organisation but most particutaty at The Field C8ntr8 dir8dy
supports the CharItab￿ objects oflhe charity. The rege8reh programme has grown considerably over thè yèar,
in temis of programmes on offer, the number of intem81 and exlemal candklates taking up Ihg increased
Opportun￿•S and the implernentation of moro strucaured feedback and 8￿dence galherfng proce&￿8.
continues to be developed with 1he ovor8118im of producing Ihe pract￿ informed research which underpins
the unique method of practical skiits teaching and learning taking pLq¢e within thè RUs￿n Mill Trust colloges.
Page 2

RUSKIN MILL LAND TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2025
OBJECTIVES AND AcnMTIES
Public b¥nafrt
Ensuring we m••t ouralm$
Th8 TnJsl88s revièw the aims. objectives and activities each year. We look al what we have achieved in ter￿
of the success of Èad) W activity and th8 b8nBfils w8 have brought to those groups we are set up to help.
This review a180 helps us lo ensuie ouraims. objBclives and a¢fivilies r¢mainfo¢ussed on ourslaled purposes.
We have ￿ferred lo the gu¢dance contained in the Charity Commissson's general guidance on public benefft
when remewing our aims and objeciives and in planning our futur6 activthes. In part￿lar the Trustees
consider how plamed a￿1VitieS will contribute lo the aims and objective5 we have set.
ACHIEVEMENTS AND PERFORMANCE
Developments, acth*Stles and achlevements for the year 202312024
Introductlon
The principal function of Ihe tharity is Ihe leasing of kts significant property portfolio to Ruskin Mill Trust Llmited
to be used for lil th8ri18ble edu¢8lion81 purposes by providing the phys￿1 cont8xi for thè charitys unique
8ducational melhod. "Practical Skills Therapeutic Education. {PSTEI- and {ii) COTrtinued supporl of the
r8sid8ntial provision offered bylhe colleges in supportof the education by the suppty and care ofthe properties
plus asslstance whh fLKther exiemal aCq￿S￿￿onS wherg n8Cgssary.
The chativs aesthetic. drawn from the arts and ctaft8 movement, its "genius loa" is Curated and developed
using appropriate insights from Johann Wolfgang von Goethe and the spiritual insighls of Rudolf Steinef in
human development. Biodynamic agriculiure forms the core contexl to enable outdoor learning and nutrition
to b8 de1[￿ere￿ for heaf(h and wellbeing. The arts and crafts movement inlluencethe re-imagining 011he Trusfs
industrial buildingsfor praciical skills Iherapeuli¢ u8fvork. This ha$ contributed lo hands-on tr8ining andwork
experience opportunities for students. such as wool produrkn.on in Glou¢eslershire, glasÉ m8￿￿￿et￿rIng In
Stourbridg8, j8w8118ry making in Bimiingham and mètal work in Sheffield. The often iconicand li51ed buiklings
also promde int&rèstforth8 local o)mmunities through H8rilag8 activitias and the ability to parbopate in swal
enterprise. In addilion to the provision of college sites, the chaiity piovides appiopriate sitesforsthools whore
a wid8 curriculum. both of an academic and practical rtalure. is made available lo the younger beneficiary of
the Ruskin Mill family.
The charity continued to support Ruskin Mill Tru81 Ihroughoulthe ytrar by ensuring Ihal tts properties ￿rna1ned
fftfor purpose. undertaknng maintenan¢% and repaiis as iequiied and through exploration of newan(l innovalNè
apttal pro1￿1$ to enhance the student expertence.
Ac
ui$ition$ and di$
Emerson College TNsl (ECT)
At 8 general meeting of the Emerson College Trust Association held in Octobei 2024. th8 membership voted
wTih an overwhelming majority lo joln the Ruskin MS11 Land Trust Group and this change t¢)ok effact Icom that
dat8 {10 Octob8r 2024). ECT joined Ihe Group intacl. bringing wilh il the freehold property tjn site the
landlord obligations and responsibilrties for all leasehold titles thereon. Significant invesltnenl has already
been madg. both financialty and in lems of resour¢ing. making improvements to Ihe on-site infraslruclure in
PUTsuance of the strategic plans for widening the aducal￿nal offering and stabl11￿n9 Emerson's fulure.
Addilionalty. RLFskin Mill Trust has Commen￿ its work on the part ofthe sile designated forthe development
ofthe new A$￿jown Garden S¢hool.
Helios Trust
Hellos Trust is a registered charity and owns the freehold of 17 Stoke Hill, Bristol Ifonnerty HelKJs M8di(Al
Centre}. It currently leases Ihe buikling to Calherine Grace Trust for use on the first floor as Grace Garden
Upper School sharing the ground floorwith Rowan Tree C8ntr8 for H8alth. Helios Trusl transferred ownersFwp
of its Company lo the Ruskin hrtlll Land Trust during the fin8nual year.
Th• Old School, Llannon R(Md, Pontyb•r•m. South Wales
Fom)8r Infant school silualed Sn the town of Pontybgrem. lo be converted irto residential accommodation for
students attending Coleg Ty'r Eithin, once the college is opwali¢)nal. Pur(th5e comple18(l in Novtrmber 2024.
Pag# 3

RUSKIN MILL LAND TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2025
ehi•vemeTrts An
¢tivitie8- Coll
e & School I
Bri8toll
rnG• Gardèn
17 Stok• Hlll
Replacetnent of heating system.
Thè Rowan Tr9• Cerrtre for Heolth (l(Iwer ground floor of 17 Stoke Hill)., works were undertaken to allow the
Cèntreto befomially opened on 09 November 2024, offering hol1st1ctherap￿$ffiea￿hCaretO the general publ￿.
Lower School
WLvks allowing for previousty unused r00Th￿ to be brought into use.
arlin
nlCl8rvaux Ga
CleThaux Gard8n School
Refvrbishmenl ol kitchen and food s8Ning area al sclbjol.
Inslallalion of enlarggd dr8inwJe knodlgestsr system.
38 Conl$cllffe Road {Bkshops House).
Work5 to shoplr8fomi ¥￿$$ for School uselfft-oul attlc 8pace
Replac8m8nt of boSltTS.
uss•xIEmorson
The project to devolop Ashdown Garden School is ￿derwaY wrfh th8 school expe&*d lo open in Juty 2026.
Genèral WQTks are underway lo refurbish and improve Ihe Ruskln Building, and other buildings on site.
Nalls
Ruskin Mill Coll•
Stiuctural repairs Lmdertaken al Gabks famihous•.
COmplet￿n of th8 valley hNticuttural Shed, and 8dditi¢nal tOl￿t f8cilrties al HoT81ey Mill.
Brantw dGardenSch I
Tlntagel House
Roads and pathways withSn the slle have beèn re-surf8ced.
Brnntwood GaYd•n School
Re-roofing works have been compktgd.
Gr£an spaces And garden areas have been creai8d followlng conversion works to the concrete and tarmac
aw$.
tourbrfd
Vale Hg•d Falm
InslallatK)n of fire alarms lo reside¢7tial propérties.
Colle
Gla8•hou$e Collego
Upgrading to LED I￿hting a¢xos$ the Slte (phase 2 development).
urbrld
Sunfield Lower School
The new schoolwas fonnany opened on 16 May2Q5. New 8thJol bams also ¢>)mrAelod and in u5e- sgparate
fft-oul contract Is proceeding to cornplete B d888fLX)m and slora within the18rger of thè barns.
Work commonced in June 2025 for the Georye Adams Research Centre and Café.
Updallng outdated overhead servtc98 intra8lructure and general improvements works to rpsidenlial prop8rb88
Dernolllon 8ThJ p￿paration of sile k*r new entrance to ￿ UppÈr S¢knl.
Page 4

RUSKIN MILL LAND TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2025
R￿kin Mill Centre for Pra¢tlce IRMCPI
RMCP was successlulty re￿818re￿ 88 a ch81ity WIM the Charity Commission.
Envlronmental Report
The ¢harty recognises that good 8nvironment81 m8nag8m8nt mltst b8 an int8gral and fund8m8nt81 part of its
Group strategy and MS1(￿. Working in conjunction wilh Ruskin Mill Trust. the charity aims to Continuously
improve its enwronmenlal performance through careful fflanagewnenl of the Eslale and all its operations.
Respectfor the environment is inherent in the charity's ViSiDn and is made wnarbife5t through its method (PSTEI
and specffically through the adoption of biodynamic land pradi¢es. The chwity will work dosety with Ruskln
Mill Trus1 in its develtipmenl of a 10 Year Environmgnlal Plan.
Ruskin Mill Trust appointed an Energy and Environmental Manager in Juty 2025 who will work alongside and
cooperate with the chariivs Estate Manager lo ensure overal improvernents to the charitys sites.
Str6amlin¥d En•ryy & Carbon Reportlng ISECRI
The charity has worked alongside Ruskin Mill Trust in the prepara1ion of its Second SECR forthe whole Ruskin
Mill Group. This wtll ency)urage the implementstion of energy efficienl measures and the adoption of low or
2ero carbon pr8CticÈs. The Group has committèd to year-on-ya8r improv8m8nts in its operational energy
eflklency. Som8 of those measures have Included..
Implernenting a Heal Decart>onisation Plan foi all sites that curtently use f05siI fuel consuming boilers, wtth
Ihe aim lo phase out all usage of fossil fuels for heattng
Completion of an energy audit ol the Sunffield sile and implemenlalKJn of a scheme to replace histori¢ oil-
ffired bDilefs
Repaiiing the bi￿na88 boiler and feed system 81 the Tiigonos sile and replacing all outdatsd LPG backw)
boilers
- Reptacemenl of the histor￿ wind turbine at Gables Fami
Insl811ino ASHP technokjgy within the Wod Barn sile
- Conduciing reviews of EPCS across the entire propety ￿rtfoliO
Further measures will be prKJrilised 2025- 2027..
- C¢)ntinu8d contribution tOWaTds the 10 Year Envlronmonlal Plgn
- Development of long-letm strategy for replacing fossil fijel boilers and conlinued Irnprove￿￿nts in insulation
and healing systems
- UrKl8rtake a review of Energy Perfom)an¢e Certificates (EPC'S) across the whole propety portfolio
- Conlinuy)g to raise awareness among all staff and students so the s¢ale of Ihe operation Can be understood.
Conlinuing to look for improvements in both the tnsuLgtion fabric 8nd healsng systems of all buildings,
rep]aciNJ old style slLKage heaters
An amount of work has been undertaken wilh Ruskin Mill Trust's energy purchaser to tske adv8ntag8 of
re¢Yuced energy ￿$ts over the summer lo negoliale any rènew818 duè in the next six months. 8nd to ty to
align contract end dates. allowng for discounts on great butk purchasès in the fthure.
R•s￿l¢h
Ruskin Mill Trust's educalfonal melhod of PTacllcal Skllls Therapeutlc E(lucallon, developed over 30 years. Is
appliedthFough Seven Fields ofPractice. Thecharity supports the continued development of the method which
1$ subject to ongoing research of three different kinds.. pracliboners. action research and reflective practice"
formal Maslerfs and PhD ￿search on spe¢ific dimensions ol PSTE,. and Goethean scien￿ research on the
undetpinning8 of the praGltce.
The charity now supports docloral candidates through the Field Centre. Eath candidate continues to enhance
the Group's thmugh their research of tha key aspects of thè method. The eurienl spread of.th8m8S IS
Fields 1,2.3.6 & 7.
The charity celebrated ts first compleled sponsored doctoral degree wilh Dr Constantin Court submitting
suceessfijlty defènding his EdD Thèsis at lh8 Universty of Sh8ffi8ld in JU￿ 2025. in Fk?Id 4 - Therapeutic
Education.
Page 5

RUSKIN MILL LAND TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2025
Di&sefflinalion of r8s8arch occurs through research jgumols. kgy publication8 produced by the charity, reguL8r
seminars exhibitSons and eonferen¢es. This researd) cyde. wlh it8 research objacts sourcèd in enhancing
practice, serves tt) devElop staff practice for the benefit of student progress*Jn.
The Fiekl Centre Joumal of Resgarch and Practice, along wilh the hollsllc 8¢iènce joumal In DiaFogue,
both distributed widely within the Trust a5 well as available fr88 online, in line with OUT chorrtablg objects In
re￿lIOn lo the dissemination of research.
Ruskln Mill C•ntr• fr•r Re$egr¢h IRhlCRI
RMCR wnlinued its research effort acxoss four established and develoyng cent￿6 based on STtès owned by
the tharity, using Goethean enquiry and 8plrltual scientific research to underpin Ruskln Mill Trust'g method of
Practral Skills The￿p9th￿ Educ8lKJn.
Al the Margaret Colquhoun Research Centre (Fairhill, Scotland), Dr Renalus DeTbidge has moved on with the
research position besng taken up by Sofio Rasmussen, manager of the overall Falrhill Rise promsion. Sofie
has recentty eompleted the MA in PSTE arKI has also studi8d 8t the Nature Instthte in the US.
The Field Centr8's Dr Judyth S8$soon has completed a y$ai 85 Ruskin Mill Res•arther in Residence at the
Etches ColleCt￿n Museum of Jur88sSc MaTine ￿fe in Doisel. Along wli h 8cientifjc research on the 'DavKI
Attenborough pliosauff. she has workad on a po￿￿$1 series with the museum and is worklng wNh Ruskin Min
Trust sd)ool teachers on how the study of bones and anatomy can benefft our pupil5.
Constm¢tion of the George Adam5 Research Centr8 {Cl8nt, Stourbridgel at Sunfield is underway. Goelhean
research at Emerson Colkgo will be cownbined with work *1he George Adarns CenbE, in Ilne with the long-
standing historical links of the tsvo locations.
Ruskin Mill Centre for Practlce IRMCP)
Maste¥ of Arts in Practical Sknlls Therapeutic EduCat￿n
Cohort 1 submitted their final dissPrtaI￿ns in May 2025 with all sludenls passing. and a slgnlflcanl number
achieving a Merit or Dislinclion. Their graduation look plae* in Juty 2025 * the UnNeTsity of Huddersfiold.
- Cohort 2 completed their ffirsl yearwtth a Iwo-week delivery of Modukg 3 (Blo￿nam￿ Ecdogyl in April 2025
and an assignment submitted In June. Their Se￿nd yoar began mNY-August 2025 wth the dellvery of Module
4. Investigating thè Wder Conlernporary Context of PSTE.
Ma8tsr of Art8 In Tran5forn)atlve Le8mlng
Continued devebpment of new MA coursè, with Arts Universty Bournemouth IAUB) as the validating parther.
Course prospectu$, and validaliDn documentation have been 8lgned off by AUB. Student appllcaUons to open
L*er this calendar year, for first whort cours& start date in October 2026.
OIS AppIl￿tIOn
Tho Ofs brought their self-imposed pause on all registrations and applicat￿)nS for admlttartce as a higher
eduLXtion establishment and deg￿e awarding powers lo an end in AL(gust 2025. RMCP revised SP8CTfiB
documents to rasubmit at this point to refiect thelr progre55 over the paus8 year, 8.g. uwlate of financial
documents and policy slalements duo tothe now ￿)llabo￿tIOn with AUB, lo gnsure there are no ￿rther delays
when Ofs process the application.
Trnlnlng
The HEaRT team continued their excdlent work in organislng, offering and delivering both internal PSTE
courses and mand810ry training for all Ruskin Mill piDw5ions. The compliance training consists of 12 topi
nead8d for regukgtory compliance.. Safeguarding.. Prevenl,- Health and Safety,. Equ8ltty, Diversty and In¢Jusion-
Safety Intetvenlion Ipreviousty MAPAI,. Medlcation,. Infection Control., Ment81 Capadty and DOLS.. Data
protection and GDPR.. Safer Racruitmenl; First Aid., Food Hygiene.
Page6

RUSKIN MILL LAND TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2025
The HEaRT leam dglivered 15 intemal courses during the 24-25 aca(lemk year.. Growlng Land GrowlrvJ
People. Pedagoyic Potw)tial of Craft, 7 Fidds of Pradicg, Goelhean Science four-fokl, Polarilies, Tgaching in
Specialist Sleiner Gaw(len Schools, Steiner Educational Insights, Holistic Practices in Nutrilion, Hotnewnaking.
student Study Facilitation. MasleTS in PSTE. Therapeutic Music. Slep-by-slep Gardening. Woodland and Fish
famiing. The internal courses offered and delivetsd by Ihe HEaRT team for the 25-2fj a¢ademi¢ year a
outlined in the new 202&26 Ru$kin Mill Courses Brothure, which was Ur￿lated to st8ff 8s a physic81
pubk'cation.
In September 2024, the leam delivered Training week al all Ruskin Mill TTUSt pro￿lS1On$. This cornpromis8d of
five working days oftraining. Thè c8ntral th8m8 was Fietd 6. Holistie medi￿n￿. with focus on the sttjdènt study.
Events
Events at Ruskln Mlll
The year ended as it began in the gaThery with the exhibition gf student work. whith represents and celebrates
every student who has attended Ruskin Mill Co1￿9$ the previous acadeNwG year. Their studentjoumey is
reffiected in the vibtanl displays of craft. and culture- and a￿ayS makes a deep impressron on the staff.
students. their families and the public.
There were fv40 noteworthy exhibitions ov8rth8 y8ar. bolh retrosp8CtiV8s. and both artists very d88rto Ruskin
Mill TrusL The first Was Amthony Hodgè Skètchb¢ok Days, a Selling exhibii*)n ol dr8wings which w8$ a huge
su(xess, in teTrnS of visilors and Sales. The second was Kay Wedgbury whose work still hangs in Ruskin Mill
around the bLbilding and whose trees in soft oil paslels are iconic.
An enchant￿9 local(ish) folk duo slartgd off the year., Filkins, Drrft had made the llews for walknng the CDast of
WaJ8s for a tour of small venues. Dan Whitehouse gave us his Night of Glass. song6 that were bown of his
collaboralion with the GlasshoLFse and the history of Ihe Work1¢￿￿. Tho Brothers Gillespie brought in a full
house. and an audience that responded deeply to their energy and aura. Emma an(J Ellika. tradilional Swedrsh
fiddle players We￿ unsurpassable, and we finlshed the year with the hugety popular Martin Simpson. an
incomparable guitarist. for the Richard Valentine Memorial Concert. one ol Ihe mainstays of the annual
N8ilsworth FeslNal that Ruskin Flill Trust has Sponsored sin¢e its in¢8pt*Jn in 19805.
FINAMCIAL REVIEW
The rèsutts for th8 yÈ8r rÈprÈsent the (mgolng actlvNy of leasing and renting the ¢harity'$ assets in pursuli of
its tharitable objects in the ways outlined above. For the year ended 31 AuglJst 2025 the group r8cord8d a
surplus of £1.570,601 (2024- £2.022.681).
FurNls of acquiipd entrlie5 added £2,519,479 to the total funds which Blood al £22,718,851 on 31
August 202512024.. £18.628,5711.
Cap*al expenditure for the year lotslled £748,998.
Page 7

RUSKIN MILL LAND TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2025
RISKS AND UNCERTAINTIES
The directors 8sse89 the major risks to which the charty is exposed on an on90ing basis and formalty wrthin
Its Risk Ragistèr avery six month8. The directors identffied thefollowing as the prfnclpal risks an¢J uncertaintVa8
fa￿r￿j the tharity. Also sel out ar8 th8 control pr(Kedurgs in place lo mTtigate against those risks.
Posslblo rlsk
Depen(*ncy on one primary incoffle
source land lack of ¢ontr(Al
Control Proc•dure
The charity has s81 up various m8th8nisms lo monitor the
financial interconnector il has with Ruskin Mill Twst ￿Mited
{Ihrough bt b¢ing Ihg ¢haiiVs primary lenanl}. Work 18
ongoing lo identty ways to exploit and dN8rsfy incomè
sources. The directors have also revwed the chartty's
reseNes policy (see further beiowl.
Cash flLW sen8itMtws
The directors ensur8 that the ch8rity's Finance Manager
identifiès all m8jor sensitivlfjes, partI￿lartY around the
tharitys capital programmes. The Finance Manager provkles
detailed cash Ilow proi8ctsons {wllh prudent assumptionsl to
the dirprtOTS at Ihelr rogular toard Mee￿n96.
Pvbllc liabilTty issues arising from
inadequate management of th& charitls
esiate, induding bad(log of
maintenance
The charity conllnuos to vffjrk vrith Ruskin Mill Trust Limited to
improve the procass for ensuring all the Tenanls takg
responsibility for maintenance of the prOp￿tIes.
.Failure to maintain and protect the
ph￿ical assets of tenant provision
Maintenan¢9 strucluips have been rewewed ae¥oss the Group
with schedules prepared in each area and increased budg8t
¢xpacity agreed with tenant. The goal remains to fully 8mb8d
>year maintenance plans.
Rlsks assoclated wrth sped17c
properties= canal banks, roads, landslip
Wher8 risks are on leased landlproperty, the charity iemews
and monitors the tenant's risk-rnanagement polry lo ensure
Ihal rt complies with all Televant operational poI￿leS Ire how lo
keep students, staff and the public safe).
Borr¢ywlng
The di￿￿9r$ require that the chaTrtI8 Fln8nce Manager
ninuously appraises future income streams lo serwce the
ebt. The Finance Manager also undertakes periodic d8tailed
reV￿w9 of the terms of all borrowing (rates available fixed,
Capped, variable etol and re-stru￿Vres debt if appropwiate
and approved by th8 direciors. The tharity makes use of
approprkqte professional advke.
Faillre io comply with employment law
C￿r directives and support frorn HR.
Failure lo comply wilh health and safety Rk8k assessments aro in place, H & S training for staff, audits,
leglslatlcm resuhs in petsonal injury
updated pol￿e8 and monitoring.
Unsafisfactory fundraising I shortfalls
The Charity has a good rècord of fundraising to meet shortPdll$
for its projects. The fundraising team has remained staNe
and works aonsist8lltly with the project development learns to
ensure strwg cimnmunulion of lundraising targets.
Page 8

RUSKIN MILL LAND TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2025
Reser￿$ pollcy
It is th8 policy of th8 Trustee to US8 surplus8s generated by the activities of the charity lo both tepay loans
secured 8gain$l its land and buildings. and lo invest in their impTovemenl. The Trustee undertakes an annual
review of the current and anlicipaled income and expgnditufe l$velswilhthe purpose of ensuring that adequate
liquid assets exist to meet al the liabilities of the charity as they fall due. In Ihe event that IiouKI assets were
found to be inadequate. it is the tDJslee policy to dispose of such assets a5 may be required. either by oulriyht
sal? or sale and leaseback. to increase liquid assets lo a level at whtch the charity is abte to meet all its
liabili1188 as they fall (lue. Reserves 8131 August 2025 stand al £19.835.101.
FUTURE PLANS
Trustees have resolved to und6rtak8 a process of incorporation of the Ruskin Mill LaTrJ Tru51. Wgtk is already
undemay with art #im to complete the projoct by the ènd of August 2026.
The following plans are being pro9res6ed in fvrtheiance ofthe Charity's obitrds:
Nallsworlhl Ru5kln Mlll Collpgv
To undertake WOTks to slabilise the property known 8$ 2 Millbollom.
Su8sexlEmerson
To complete the conversKJnldevelopment of education buildings for Ashdown Garden Schod, wlih the aim for
the school lo be operntion81 by Summer 2026.
To undertak8 condition surv8y of Em8rson Collège Tiust leasehold properties.
StourbAdyelGlatsshous• Colleg•
To complete the metal colour light glass casting farAIity.
To comm¢nco malor repairs lo Ihe rAno1 bank and moorirwJ.
To underlake the reroofing of the 8dminislration blfKk.
Stourbrfdgolsunfield School
To complete building th8 Georg8 Adams R?￿reh C8nlre and Café by Summer 2026. to use Ihe building a5
space for the MA in Transfom¥live Le8ining frjr the 26r27 academic year.
Darlingtonlclgrvaux Gard•n School
To undertake and complete conslruotion of new forge and anlmal barn.
Waloslcoleg Plas Dwbl
To explore the restoration of Ma￿S Hal wilhin the current building curt11a￿. anLI explore the incluslon of 8
reseath annex lo house Ih¢ research of Laura Walwrk IRMCR researcher).
To complete tho purchase of the propeity known 8$ Brywr8u (St Cle8rs. C8rn18rth8n. SA33 4AH), for use
as residential accomrnodation for college sludents.
TflaleslC¢log Tyr Eithln
DeregIstrat￿ft ofthe silè as a resldenlk91 care home reylstratlon as a college. vhth assocwtod and required
works and d8V81opment of site.
BrlstollGra¢e GaTden School
To undertake works to impiove Iraffic11Dw from 253 Canford Lane down to the Sthol.
Ccimplete desvJn and submil pjanning apph'calion forkn drop off area.
HlgheT Education
The tharity will support RMCP on the development of Iheir Higher Education offenng with the wnning of the
new Masters course. MA in Transforma*ve Leaming, and intention to achieve registration with the offi￿ for
students fof slaliis 8$ a higher edu¢ation 8stsbli$hment This will b8 folbjwed by an appI￿￿￿)n to achieve
laugm degree awarding p¢ywèrs.
Page 9

RUSKIN MILL LAND TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Th• charity is govemed by its Tr￿t Deed dated 27 FebrLWry 19￿. a8 amermled by Supplamentsl Deeds tlated
18 October 1996, 28 March 2CKJ3, 17 August 2007 8NJ 24 May 2010.
Govoming body
The ch8rty is a trust whose sok trustee Is Ruskin Mill Land Trust Limited. The directors of thé trustee
ompany, whose names are lisle(l above, are responsible lor und8rtaking the duties of the Trusloe.
Recruitsnentand training of Trustee Company DlreGtors
The charity's pr8¢ti¢% regarding recruitment 18 for the mernbers of the board to make recommendations for
suilabty skilled and exp8rientxd people who are then appraise(I by the board. New b98rd members recewe
an induction pad(. Ongoing training is carhed tsut during the meoting cycle and indudes pa￿r and in-person
briefings orl legal and othgr update5.
Group $tructur• and felatlonships
Th8 chartty has two non-charitable subsidiary cornpani8s. Ruskin Glas8 Centre Llmh8d d88ls wfth the
commercial Jetting of units comprising part of Ihe GL3sshous8 College $r(e in Stourbn"dge. The Arademy of
Makers L(mited dea15 With th8 commerckgl letting ofunits al the Butcher Works site cornprisin9 part of Fieeman
CLllege in sheff￿ld. Any proffts made by Ihese subsidiarie5 are covenanted to Ihe charity.
The has ffive subsidiary charitable Companiès. Ruskin Mill Cgnlre for Practice whith is rssponslble for
the provlsion of the leaching of Iha MastÈrs Degrees as well as staff training, Ruskin Mill Contro for Reseai
whith undertakes research rnlo Ruskin Mill's method of PSTE, Erner￿n College Tru* which is responsibfe
for the provision of holistic educatiDn and care rL)urs8s in EASt Su$8ex, TIT Ceridwgn in Wale5 which acts as
the Gioup Welsh Land Trust and ￿fe Scienco Trust in Scouand which is due to b8 wound up.
Oryanisatlonal mpnagernent
The Tluslee and its dir8Ctors are legally responsib￿ for the overall govemancè and control of the trust and
meet at least four limes a ygar. ThÈ Trustee has established a Coun(al of Managemènt. to which day to day
control and managemgnl uf the charity 15 delegated. The Council of Managemant is comwsed of one director
of the Trustee and a number of SOn￿r officers of tht tharity.
Séttlng pay and remunorntlon of key manag•mont pgrsonnel
The pay of key rnanagemenl personnel is sel onc8 th8 role has been defined and an evaluation of the role has
been undertaken through the d)arity's job evaluotion scheme. Their specffic pay within Ihwr grade is Ihon
defined in line with tt)e d)arty's pay and gradiny policy.
Rolat•d Parties and Partn•rshlps
The tharity leases most of its proFety Fortfo￿o to Ruskin Mill Twsl Limited and leas8s sites to its Iwo
subsidiary companies. FOT full details of r8lat8d parbes and their relationshlp tr> the charity, please refer to
note 21 to the f￿ana81 slaternenls.
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The Iruslees aTe responsible for preparing the Report of the Tnjstees and the finand81 statements in
a¢xx)rdance with 8pplicable 18w and United Kingdom Accounting Standards (United Kingdorn Generally
Accepted AC￿unlIn9 Practice) induding Finandal Reporting Standard 102 The Financial Reporting Standard
applicable in the UK and Republlc of IT8land'.
Page 10

RUSKIN MILL LAND TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2025
STATEMENT OF TRUSTEES. RESPONSIBILITIES- ¢tsntinued
Charity law requires the tfuslees to prepare financial ststements for eacjj ffinancial year. Und8r that law. the
twslees have elected to prepare the financAal statements in accordancè with Unit8d lQngd¢)m Ggneralty
Accepted Accovntlng Prn¢lic8 IUnit8d Kingilom Acexjunling Standards arKt applicable law).
Under charity law the Irustees must r￿t approve the financrdl stslemenl$ unless they are satiSf￿d Ihal they
give a tru8 and fair view of the slate of affairs of the (*atity and of the incoming ￿sOUrceS and application of
resourc8s. including the income and expendilure, of Ihe charity for that poriod. In prepa¥ing those financi81
slatements, the trustees ale required to
sele¢t suitable accounting policies and then apply them con6i8tenUy;
observe the mothods and prinaples in the Charilies SORP..
make judgerntrnts and eslimales Ihal are ￿?sOnable and prudent.,
state whether ¥pplicable accounting Standards h8ve bean lollow8d. subject lo any materral departures
disck)sed and explained in Ihe financial statèments,.
prepare the finanual statements on th8 going conc*m basis unles5 it is inappruprtale to PFesurne Ihal th&
chaiiiy will continue in btJsin8ss.
The Iruslees are iesponsit4e fot keeping pi(Jper accounbng records whith disclose with reasonable accuracy
at 8ny tim& th8 financAal posibon of the charity and to enable them lo ensure th81 the financial statements
comply with the Charifies Ad 2011 and The Charity lAC￿unts and Reports) Regulations 2LK)8. They are also
responsible foi s8leguaiding the assets of the Charity and hence fortaknng reasonable sièps forthe preVen￿n
and detectKJn of fraud and other irregU￿rities.
Approved by ￿der of the board oftwstees on 29 April 2026 an¢J sffjned on Ms behaw by:
Ruskin Mill Land Trust Lifflile(i- Tiustee
Page11

REpoKf OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
RUSKIN MILL LAND TRUST
Opinlon
We have audited the fin8naal statemants of Ruskin Mill Land TTu61 (the 'parent charit￿) and ts subsidiariès
Ilhe 'group'l for the year ended 31 August 2025 which comprise Ihg Group Statement of FinancAal Actrviti8S
(Net Irteomé and Expenditure Accounti, the Group Ba18nce Sheet, the Charty Ba￿n￿ Shoel, the GTOUP Cash
Flow Ststwrnerrt and notes to the financial statamènls, induding a summary of ￿gnff￿n1 accounting polioes.
The ffin8nual reporting fraM￿Ork that has beon applied in 1heir preparation Is apPI￿able igw and Unlle
TrQngdom Accounting Stsndards (United Kingdom G8ner811y Attepted Accuunting Practice), including
Finan￿al Reporting Standard 102 The Financial Reporting Stsndard appll(able in tha UK and Republic of
Irelan(r.
In our opinion the financ4al statemertts..
glve a true and fair Mew of the state of the charity's affairs as at 31 August 2025 and of its incoming
re8OUT￿S and appllcation ol resources, for the year then ended,.
have beon property prepared In accOrtlan￿ Unite(l King(lom Generally Accépted Accounttng Practi￿.
including Finanaal R8POrtirg Standard 102 'The FinancAal Reporting Standard applicable in the UK and
Republi¢ of Ireland and
hav8 been prepared in accordancè with the requirement$ of Ihe Charfti8s Act 2011.
BaBIs lor oplnlon
We conducted our audit in accordance with Intsmalional Standards on Aui*ting (UK) 11&48 (UK)) and
applicabl818w. Ourresponslbllitie8 under thos8 st8ndard5 are furthgr described in the Aud[to￿, responsibilities
forthe audtt of Ihe finanaal ststements sec*ion of our report. We a￿ independent of thè charity in accordance
with the ethical requir8mÈnts that are relevant to our audit of the financial slatsrnents in the UK. including the
FRC'$ Ethi￿1 Standard, and we have fuhllled our other ethical responsibilities in accordance with these
requirements. We believe that the 8udil evKlen¢e we have obtained is guffiaent and appropriate to prowde a
basi5 for our opinion.
Conclusltsns relating to going concom
In auditing the finanual statements, we have concluded that the trus188s' use of the going concern basis of
8c(yJunling in the p￿paratIon gf the financial Statem￿1$ appropriate.
Based on the work we have perfomed, we have not identffied any material Ur￿rtaIntles relaiing to events or
condrfions that, indmdualty or ctslle¢tively, may cast significant doubt on the chartty's ability lo continue as &
going concern for a period of al 18ast ￿e1ve months from when the finanual stalernenls ar8 aLthorised for
5ssue.
Our responsibilrtias and the rosponsibilities of the trustees wrfh ro$￿cl to going cOr￿M describ8d in t
relevant 8ections of this report.
Other Infomiatlon
The Injstees aro responsible for the othèr infornati￿. The other information comprÈs85 the Information
Induded in the Annual Report, otherthan the financial 51atem8nts and our Report of Ihfr INJependènt Audllors
thereon.
Our oplnion on the ffinancial statements does not covw the oth8r inf0rn181ion and, exGopI to the extent
oth9￿lse eXpli￿lIY Stsled in our report. we do not express 8ny form of assurAnee condusion ther80n.
In ￿nn￿b0￿ wf(h our audtt of the finandal s18tements. our responsibility 18 to raad the other information and,
in doSng 80. consid8r whether the other inforrnalion is Material￿ inconsistent with the finaneral slalemenls or
our knowledge obtsine(I In the audit or otherwise app8ars lo bè materialty tni55tated. If w8 identify such
material inconsislgncies or apparent mateiial misstatements, we are requlre(I lo deterniine whether this gives
se to a material mi8Statement in the financial staternents th8mselves. If. based on thtr work we have
performed, we con¢ludo that there is a matertal misslatem8nt of thls other infomialion, we ar8 requi￿ to
report th81 facL We have nothing lo r8POrt in this regard.
atters on which we •r6 requlred to report by exceptlon
We have nothing lo report in respect of the folk)wing matters wherp Ihe Chaiilies IAccounts and Reports}
RegulalKJn$ 2008 requir85 us lo report to you W, in our Opin￿n..
the information gwn in the Report oflhe Trustees is ineonsistenl in any material ￿pect with the finanual
slalemenls.. or
$uffirAent a¢￿￿nI1￿g recor(fs have not been kept.. or
the financAal stslements are not in 8greemènt with the arZoun￿n9 r8cord$ 8nd returns,. or
we havvj not rw%ived all the infomiation and explanations we requlre for our audit
Page 12

REPORT OF THE INDEPENDENT AUD￿oRs TO THE TRUSTEES OF
RUSKIN MILL LAND TRUST
Respon$ibilitiè$ of truytsos
As explained more fulty in the Statement of Trustees, Responsibilities, the trustees a￿ responsible for the
preparalion of lh8 financial stat8menis which give a tru& arKJ fair vi8w. and for such intsrnal control as the
Irusl88s dèterminè is necessary to anab￿ Ihg preparation ol financial st*emgnts that are fre& from material
mksstslernent, whether ¢Jue lo fraud or ertor.
In preparing the financial Statements. the trustees are responsibk forassessing the Qharity's abilty lo ¢onliiuo
as a going concem. disdosin9, as applicable, matters related to going concem and using the going cOn￿M
bays of accounling unless the Iruste8S Oither intend lo IKiuidats Ihg ch8rity or to ¢e8s8 operat40ns, or have no
reall￿1¢ 8llernalive but to do $0.
Our r￿pOnSIbIlItI95 fortho audlt of thg flnanclal stal•mgnts
W8 hav8 be8n appointed as auditors under S8clion 144 of the Ch8rittes Act 2011 and report in 8ccordance
with the Act 8nd relevant regulations made Of having effect thereunder.
Our objectives are lo obtain reaSona￿e assurance aboLttwhetheT the financial statements as a whole are free
from material misslatemenl, whgther dLbe Ic* fraLtd or error. and lo issug a Roport of th9 Indgp$ndetrt Auditors
thal inclutjes our opiniDn. Reasonable assurance is a high level of assuran￿. bul is nut a guarantee that an
audit conducied in aCCord￿ce with ISAS (UK) will ahvays detect a malewial misstatsment when il extsts.
Misstalemenls can arise from fraud or error and are consklered material if. individually or in the aggreg019,
they could reasonabty be expecled to IrfflUen￿ th8 economic decisions of users taken on the basi8 of these
fin8nra81 slatem8n
We gained an understanding oflhe legal and regulatory framework appliCa￿et0 Ihe cL)rnpany and the industy
in which il operat8s. and consid8r8d the risk of acts by th8 company that wer8 contrary to applicable laws 8nd
rewlations, includin9 fraud. We desiqn8d audit proc8durès to r8spond to th8 risk. recognisin9 that thè risk ol
not det8¢ling a material misslalemenl due to fraud 15 highei than the risk of not delecling one resuhing from
error. as fraud may invofve deliberate concealmenl by. for example. forgery or intentional mi5representalions.
orthrough collusion.
Vve ￿Used on laws and regulations which coulLI give tise lo a Thalerial misstatement in the finanLaal
statements. in¢ludiny, bul not limited to, the Companies Act 2006 and UK tgx legislation. Our tests incjuded
agreeing the financ4al statemenl disclosures to underfying SL*pporiing documentation. enquiries with
management and enquiries of legal counsel. There are inherent limitations in the audr( pr¢)ctdures deS￿bed
abovè 8nd, the fLIrth￿ removed non-compliance with laws and regulations is from the events and Iransa¢tion$
refÈcted in the financial slalemenls, the less likely we would becorne aware of We did not identify any key
audrt matters relating lo irregularities. including fraud. As in all our audits. we also addr&ss8d lh8 risk of
management override of intemal conlrols, induding testhng journals and evaluating whother Ih8r8 was
gvidenre of bias by the directors that rewesented a risk of fflalerial misstalewnenl due to fraud.
A fvrther desoiplion of our responsibilrties for the audit of the financial slatements is located on the Financial
Re￿tIng Councifs websbte at www.frc.org.ukJauditorsresponsibililies. This des￿ipli0n fomis part of our
Rewjrt of the Independent Auditors.
Pa9¢ 13

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
RUSKIN MILL LAND TRUST
Use ol our rnport
Thi8 report is made SO￿lY lo the Charrty's trustees. as a body. In aCc0Tdan￿ with Part 4 of the Charilies
(Accounts and Reports) Regulations 2008. Our audit worf( has b￿n undertaken so that wa might statè to the
chariwstiuslees those matters we ar8 r8quired to slate tothem in an auditors. r¢portand fgrno olherpurpose.
To the fullest extent perrnitted by kw, we do not atx*pt or assumè rèsponsibilty to anyone other than the
charty and the charity's trustees as a body, for our audit work, lor this report, (K for thè opinions we have
fomied.
Browns A￿￿tants Limhed, Stsbjlory Auditor
Eden House
Two Rivers Business Park
Witney
Oxfordshlre
OX28 4BL
Date: 29 Aprfl 2026
Bron8en8 Accountsnts Limited is eligibl6 for apwnknenl as auditor of the charity by wrtLt& of its eligibility foT
appointment as auditor of a wmpany under section 1212 of the Comp8nEs Act 2006.
Page 14

RUSKIN MILL LAND TRUST
GROUP STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2025
31.8.25
Total
fvnds
31.8.24
Total
fund$
Unrestricted ReStr￿￿ed
fuThJs
funds
INCOME AND ENt)OWMENTS FROM
Donations and l¢ga¢ies
743.942
8.685
752.627
1.430,347
Charitsble 8¢tivitie$
Educational and ￿ntaI income
ch￿ta￿e activilies vrithin subsidiaiies
3,115,587
3.347.343
3,115.587
3.347.343
2.496,213
1,671,842
Other income
252.499
252.499
23.024
Totsl
7.459.371
8.885
7.468.056
5.621.426
EXPENDITURE ON
Raising funds
895.434
895.434
873.765
Charitable actlvllles
Chaiitable actwilies
Charitable actb￿ty wrfhin subsidiaries
1.114.￿9
2.215.798
1,114.069
2,253.347
876,525
1,554.857
37.549
Other
12
293.598
Total
38.255
5,897.455
3,598.745
NET INCOME
1,600.171
129.570)
1.570.601
2.022.681
RECONCILIATION OF FUNDS
Total fvnds brought fon¥ard
Brought forward lunds of acquir8d 8ntiti&s
18,828.571
2.383.811
18,628,571 16,605.890
2.519,479
135.668
TOTAL FUNDS CARRIED FORWARD
22.612.553
108.098 22.718,651 18.628.571
Page 15

RUSKIN MILL LAND TRUST
GROUP BALANCE SHEET
31 AUGUST 202S
31.8.25
Total
funds
31.8.24
Total
funds
Ufftstricted Restriclod
funds
funds
FIXED ASSETS
Intangib￿ assets
Tangible assets
Soc4al invèstments
Investments
12
739
13 30,786,108
14
1,347,127
15
739
30,786,108 27,217,927
1,347,127
1,459.505
12,2
32,146,240
32,146,240 28,677,432
CURRENT ASSETS
St¢)cks
Debtors
Ca8h al bank and in hand
41.947
16 2.838,307
1.276.126
41,947
2,838,307
1,382,224
1,414.945
1,531 016
106,098
4.156,380
106,098
4.262,478
2.945.961
CREDITORS
Amounts falling duè within one year
17 (2,245,787)
{2,245,787) 11,252,209}
NEf CURRENT ASSETS
1.910,593
1(%098
2016691
1.693,752
TOTAL ASSETS LESS CURRENT
UABILMES
34,056,833
106,098 34.162,931
30.371,184
CREDITORS
Amounts falling due after more than one year 18 {10,895,6181
{10.895,618) 111,742.613)
PENSIOM LIA81UTY
(548.6821
{548.662)
NET ASSETS
22 612553
106.098 22 718 651 16,628 571
FUNt>s
Unra$t￿ed funds
Rgstr5¢tgd funds
21
22,612,553 18,628.571
TOTAL FUNDS
22,718,651
18 628.571
Th8 fin8n¢i81 st8t8ments were approvgd by the Board of Trus￿ and aut￿riSed for is8ue on 29 A￿1 2D26
and were signed on its behalf by..
Ru$knn Mill Land Trust Limited- Tr￿lee
The notes form part ofthese financial statsments
Paoe 16

RUSKIN MILL LAND TRUST
CHARITY BALANCE SHEET
31 AUGUST 2025
31.8.25
Unreslrictpd
fund
31.8.24
Total
fund8
Notes
FIXED ASSETS
TarvJible 8ssets
Investments
13
14
25,871,￿ 28,155,176
25.871,558 26,155,178
CURRENT ASSErs
Debtors
C8sh at bank
16
2.446.637
1,267.353
791.944
4,832,412
3,713,U90
CREDITORS
Arnounts falling due wtthin one year
17
(1,245,562) 11,129.067)
NET CURRENT ASSETS
3.586.850
2.584.923
TOTAL ASSETS LESS CURRENT
LIABILITIES
29,456,408 28,740.101
CREDITORS
Amounts f811ing du8 after more than on8 yèar 18
(9.870.901) (10.621.734)
NET ASSETS
19 587,507 18 118 367
FUNDS
Unre8tri(*ed fvnd$
21
19 5875Q7
18.118.367
TOTAL FUNDS
19.587,507 18.118,367
The flnandal statem8nts were approved by the Board of Trustees and aUt￿ISed for Issue on 29 Aprll 2026
and weie signed on its beham by-.
Ruskn Mill Land Ttust Limiled- Trustee
The notes fomi p* ol Ihp59 finandal slalements
Page 17

RUSKIN MILL LAND TRUST
GROUP CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2025
31.8.25
31.8.24
les
C8¥h flows from 0￿ratin9 wctivrti
Cash yènèrated from operations
Interest paid
2,194.137
895.434
3,818,906
Net cash prowded by operating activilie5
1298 703
2945141
Cash flows from Investlng actlvltl
Purchase of tangibl8 frKed assets
Sale of tangitile r￿ed assets
1748,9981
{1,252,0891
Net cash used in investing 8ctivft￿s
1252 OB9
Cash flows from flnanGlrbg actiyitigs
New loan$ in year
Loan repayments in yeor
303,000
1.001,497
880.620
4.159050
Net cash (used inllprowded by financang actlvities
38 497
3.278.230
Chanyg In ¢o$h and ¢agh •qulvalents
In the reportlng peri¢d
Cash and cash gquival&nts at the
ginning of tho reporting perlod
(148.792)
11,585,178}
1,531.016
3.116 194
C•8h and ¢a$h èquivalents at the end
ofthe reporting period
1,382,224
1,531.016
Thè notes form part of these finan¢ial stslements
Page 18

RUSKIN MILL LAND TRUST
NOTES TO THE CASH FLOVI STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2025
RECONCILIATION OF NET INGOME TO NET CASH FLOW FROM OPERATING ACTivrriES
31.8.25
31.8.24
Net Income for the reporung perlod las perthe Statement of
Financlal Acljvitles)
Adlustmonts for:
Depreciation charges
Increase in slod(s
Ilncr8aselld8crease in d8btors
Intte8sÈ in credrtors
Nel effect of acquired enliiies
2,466,035
2.896,446
771.958
141.947)
{1.423.362}
1.393,742
72,289
709.722
197.435
35,303
Not ¢a$h provldod by op•rnllons
2,194137
3818906
ANALYSIS OF CHANGES IN NET DEBT
At 1.9.24
C8sh flow
Al 31.8.25
Net cash
Cash at bank
148,7V2
1.531.016 ￿ 1.382,224
1531.016 ￿ 1 382 224
Debt
Debts falling due within 1 yeai
Debts falling due after 1 year
{1.C4]3,500)
(10 841.734
(146,498) (1,151.998)
Total
110,114218
9,760,675
The notes fom part of these finand81 statements
Page 19

RUSKIN MILL LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
ACCOUNTING I>OLICIES
Basis of pr•parlng the financlal stat9monts
The finanGial statements of the charity, which is a Publ￿ benefft entty under FRS 102, have been
prepareil in accordance with the Charities SORP (FRS 1021 A¢¢ounling and Reporting by Chariti8s=
Statement of R0￿MMended Pracllce applicable lo Charitles praparing their a(xounts in a¢¢ordance
with the Financial Reporting Standard applicabla in the UK and Republic of Iroland {FRS 1021 {effectNe
1 January 2019)., Financ4al Reporting Standard 102 The FinancAal Reporting Slandaid applicab￿ in
Ihe UK and Republic of Ireland. and the Charities Act 2011. The finanaal statements have been
pr8paTed undei the historical cost convention. with the exception of investments which are included at
rnarket valu8.
The finandal stslements have teen ptep8red lo gNè a Irue and fairf vtéw and have departed from the
Charities (Accounts and Report5} R8gulations 2008 only lo the extent required to provide a Irue and
fair view. This departure has involvad following the A¢¢ounting and Reportiny by Charities.. Slalemant
of Recommended Pra¢th¢¢ applicable to charities preparing their 8¢counls in accordance wth the
Fin8nch21 Rep￿n9 standa￿ applicable in th8 UK and Republic of Ireland (FRS 102> issued on 16 July
2014 rather than the Accounting and Reporting by Charrtles.. Statement of Rectsmmended PractKe
eff8ctiv& from 1 April 2005 whith has since been withdrawn.
The financial 81alernent5 aT8 prepared on a going concem ba$is undeT the hislortcal cost convention,
rnodrfied to includg cert8in items at fair value. The finanual stslemenls are presentad in stsrfing which
is the fijnclional ¢urroncy of the char(ly and rounded to the nearest £.
Th8 significant afxourrting policEs appllgd In the p￿paratI)ll of these finawal stalernerbts are set out
b81ow. These p)liaes have been wis1$t￿tlY applied to all Ye￿ pr8sentsd unless otherwise stsled.
Funds
Unrestricted funds are 8vai18bl8 for use al the discrglon of the trustees in furtherance of the gèneral
oble¢tives of Ihe tharity and which have not been designated for othèr purposÈ$.
Restricted funds are knds whl¢h a￿ to be used in accordance wlh Spe￿riG restriCt￿)nS imposed by
onors or which have ￿en raised by th8 charity for particular purposes. The cost of rsising and
administèring such funds are charged againstth8 sp8oficfund. The aim and use of ¢a¢h restrided fund
is set out in the note8 to the ffnancial slatgments.
Income
All incorne is recognised in the Statèment of Financial ACt￿ltIeS once the charty has ent￿ement to the
funds. tt is probable that the income will be receNed and tho amount can be rneasur8d reliably.
Expend5tyr•
L18bil￿8$ are recognised as expendf(ure as soon as there is a legal or oJnslnJctiv8 oblig8tion
committing the charity to that pxpendf(ure. it is Probab￿ that a transfer of economic b&neffts wll be
iequiTed in 58tUement and the amourrt of the obli9atiDn can be mea$tsre(I reliabty. Exponditutè is
account8d for on an 8txwals basis and has bg$n classrfied under headings that aggregate all cost
ralatèd to the category. ￿ere costs ￿nn01 be directly attribut8d to particuLqr headings they have begn
allorated lo actlvhies on a basis consistent with the use of rgsources.
Giants offered subjeci to conditions which have not been met al the year end dat& are noted as 8
mmitment but not 3cThd as expenditure.
Page 20
Conllnu¢d.....

RUSKIN MILL LAND TRUST
NOTES TO ThE FINANCIAL STATEMENTS - contlnu
FOR THE YEAR ENDED 31 AUGUST 2025
ACCOUNTING POUCIES - Gontinued
Tangiblo fixed assets
Depfecialion is pro¥ided at the following annu81 r*$ in order lo write off each asset over ils eglimaled
useful lrfe.
Spe¢i8lised freehDld land and
bulldings
Non.specialt3ed fteehold land and
buildings
Short leasphokl propgwlios
FExtures a￿d fittings
Computer equipment
Str8b3M li￿ over 50 y8ars
Sfiaight line over 50 years
wrtto off over p¢riod oflgase
Straighl linB ovor 5 years
Sliaighl line over 5 years
Non-specialised freehojd land ar￿ buHdings are in￿ded at markel value. Al other assets are induded
at the original cost 8t d8te of acouisrtion.
Items costing les5 than are wrilten off as an expense as acquired.
The fixed assets hold by the SLtsldlary ￿￿panIeS are shown within the finandal slalemenl$ a$ sodal
iFNeslments at the￿ respective net LKJok value, as required by the SORP.
knpalrnivnt
Assets nol moasured al fair valu8 are rewewed for arry indicatton thal the asset may be impaired at
each balanco sheet date. If suth indication ex6sts. the recoverable amount of the 88sel. or the assefs
Sh generating unil. is estim8lèd and ctsMpa￿ to the ¢8frying amount_ there the carrying amount
exceeds its recoverable amount. an impairment loss is recognised in profil or Ios5 unless Ihe asset is
carii8d at a r8valu8d amountwh8r8 th8 impaimient10ss is a raVa￿allon d8cr&as8.
Taxation
As a registered charTty Ruskin Mill Land Trust is entitled lo taxation exemptions on all ils income and
gains as long as they are properfy applied for its chaiilable purpose.
Recogn5t(on of Itabllitte8
Liabilities are re￿gnised On￿ there is a legal or cons1rl￿1lve obligation Ihal comm&s the charity lo the
obligation.
Provision lor liabT1￿0y
A provision is re¢ognised when a prestnt obligation with a probable transfer of economic benefit can
ba reliabW 8stimat8d.
Hlre purchas9 and leaslng commltments
Rentals paid under operating leases are charged to the Statement of Financial Actw*ies on a straight
line basis over the period of the lease.
Penslon costs and other Post￿etIrement beneflts
The pension costs charged irb the finanaal statements represent conlnljutions payable to the
personal pension plans of certain employees during the year.
Inv•stments
Fixed asset investments hèld in subsidiaries. arè stated at Cost al the balance sheet date.
Page 21
Conb"nu8d.....

RUSKIN MILL LAMD TRUST
NOTES TO THE FINANCIAL STATEMENTS - continuod
FOR THE YEAR ENDED 31 AUGUST 2025
DONATIONS AND LEGACIES
31.8.25
31.8.24
Grants
1,430.347
Grants rècèiv￿, inctuded in the above, are as foll¢xY8'.
31.8.25
31.8.24
Heritage Lottery Fund
Ruskln Mlll Trust
Other donation8
IntÈmational Federal*Jn of Glass
113,103
6CQ,000
585,813
131431
420.000
2￿.2￿8
752.627
1.430.347
INCOME FROM CHAR￿ABLE ACTrvmES
31.8.25
31.8.24
A￿1Vity
Charitable Activtrs
Rental incorne
3115587
2.496 213
3.115 587
2.49S,213
RAISING FUNDS
Raisiny grants and flnan¢•
31.8.25
31.8.24
Inlwesl payable and similar charges
895.434
873 765
CHARfTABLE ACTMTIES COSTS
Grant
fundlng of
activities
{8ee notè
6}
Support
Costs (s88
note 7)
Direcl
Costs
Totsls
h•llablg Activities
3,213 288
153 707
421
3 367.416
GRApifs PAYABLE
31.6.25
31.8.24
Charitabl& Adwities
153707
Page 22
Conllnued.....

RUSKIN MILL LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 AUGUST 2025
SUPPORT COSTS
Coverrtanc
Other 3
Totals
Other resour&9s expended
Charit8ble Activittes
5,701
1,628.904
421
1.634,805
421
5,701
1.629,325
1.635.026
TRUSTEES. REMUNERATION AND BENEFITS
There were no Iru$lees' ￿m￿NeratIon or oth8r bonefits for lh8 year 8nded 31 August 2025 nor for the
year ended 31 August 2024.
Trusts•s' •xp•ns•s
Reimbursed experws of £5.701 {2024- £2,658) were paid to a trustee ol the ultimale parenl company
durlng the year.
STAFF COSTS
31.8.25
31.8.24
Wages and salari8S
&Kial Security costs
Other penslon (x)sts
1,900,462
160.598
51.334
1.184,094
118.070
25.133
2112394
1327 297
The average nM)nthty numbèr of 8mrAoy889 duiing th8 yeaT was 68 {2024: 381.
No employees recewed emcluments in excess Of£60.￿0.
10. PENSION COSTS
The char￿Y operates a defined conlribution pensK)n 8chewne in fft8p*ct of Ihe staff. The $¢heme and
its assets are held by independent fflanageis. The pension chaige iepres8nl8 contribultons due from
the thartty artd amounted to £51.334 {2024 - £25.133}. No liability was oulslanding at thé Balance
Sheet dale {2024- £niD.
Page 23
Continued....

RUSKIN MILL LAND TRvsr
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 AUGUST 2025
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTNMES
Unr8slricted
ftmd
INCOME AND ENDOWMENTS FROM
DonalMJns and legac￿$
1,430,347
Charitabl• aellvllles
Educational and rental incnme
Charllable aCtI￿lieS ￿1￿ 3ubsldl8r￿S
2.496.213
1.871,842
Other incorne
Total
5 621426
EXPENDITURE ON
Raising fund$
873,765
Charltable activitb8S
Charitatrle A¢tiviiies
Charitable expenditure withhi subsidi8ries
876,525
1,554,857
Other
293,598
Total
3,598.745
NEf INCOME
2.022,681
RECONCILIATION OF FUNDS
Total fvnds brought forward
16,605.890
TOTAL FUNDS CARRIED FORWARD
18,628 571
12. INTANGIBLE FIXED ASSETS
Patents
and
lic8nc8S
COST
Acquired entity and 31 August 2025
AMORTISATION
Acquired entty
Charge for year
182
Al 31 August 2025
NET BOOK VALUE
At 31 August 2025
739
Acquired entity
921
Page 24
cOn￿nued.....

RUSKIN MILL LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS- contlnued
FOR THEYEAR ENDED31 AUGUST 2025
13. TANGIBLE FIXED ASSEfs - GROUP
Spe(#alised Non-$￿¢1811$$d
freehold
freehold
land and
land and
buildings
buldings
Short
leasehold
properties
COST
At 1 September 2024
Acquired entities
Additions
18,299,692 11,593,739
3.814.936
413367
875,376
At 31 August 2025
22 527 995 11893 739
875 376
DEPRECIATION
Al 1 Seplernbei 2024
A￿uired enlities
Ch8rge for year
2.622.915
487.582
798.186
140,387
219.407
16.945
At 31 August 2025
3,507,375
1017.573
157,332
NET BOOK VALUE
Al 31 August 21r25
19020620 10876 166
Al 31 Augusl 21)24
15 676 777 10,795 573
Plant
and
rnathinery
FEKtures
and
fftlings
ComputeT
8quiwnent
Totals
COST
At 1 Septernber 2024
Acquired entities
Addhlons
22.155
512.705
35.631
25.458 30.818,420
4.511.133
748.998
183.492
At 31 August 2025
183.492
570,491
25.458 36.078,551
DEPRECIATION
Al 1 Seplernber 2024
Acquired enilies
Charge for year
18,655
373.815
18.370
3,598,493
1,032.552
659 398
171.155
Al 31 August 2025
173.592
416.201
18.370
5,290.443
NET BOOKVALUE
AI 31 Au9USt 2025
9.900
154.290
7.088 30.786.108
At 31 August 2024
7 088 27217.927
Page 25
Continuad.....

RUSKIN MILL LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS- ¢ontinued
FOR THE YEAR ENDED 31 AUGVST 2025
13. TANGIBLE FIXED ASSETS- CHARITY
Speaalised Non-specialised
freehold
freehold
Land
L4nd and
bulldlngs
bulldlngs
Short
lÈasÉhold
propertle8
COST
At 1 September 2024
Additions
17,689.508 11.143.739
807,043
At 31 August 2025
17,689,508 11443 739
DEPRECIATION
At 1 Spptember 2024
Charg8 for year
2,550,061
798,1&3
219407
140.387
16.945
At 31 August 2025
2,897 329
1017,573
NET BOOK VALUE
Al 31 August 2025
14792179 10426 166
Al 31 August 2024
15 139 447 10.345 573
Fixturps
and
fittlngs
Cornputer
equipment
Tota15
At 1 September 2024
Addrbons
11.897
6,406 29,658,593
300,000
At 31 Augu8t 2025
11.897
6,406 29 958 593
DEPRECIATION
At 1 September 2024
Ch8rge for year
8.397
3,503,417
s83,￿20
At 31 August 2025
4.Q87,037
NET BOOKVALUE
At 31 Auwst 2025
3.500
25.871.556
At 31 Auwst 2024
26.155 176
Page 26
Continued.....

RUSKIN MILL LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS- ¢¢rtlinued
FOR THE YEAR ENDED 31 AUGUST 2025
14. FIXED ASSET INVESTMENTS- GROUP- SOCIAL INVESTMENTS
COST
At 1 September 2024 and 31 August 2025
2.991.878
DEPRECIATION
At 31 Augusl 2024
Chaige for tho year
1.532.373
112378
At 31 August 2025
NET BOOK VALUE
At 31 August 2025
1347 127
AI 31 August 2024
1459 505
There were no Inves1n￿nI a$gets outside the VK.
1S. FIXED ASSET INVESTh1ENTS - GROUP
Other
Invéstments
NET BOOK VALUE
At 31 August 2025- held in a￿ured pnlity
15. FIXED ASSET INVESTMENTS - CHARITY
Shar8S
group
undertaknngs
MARKET VALUE
At 1 September 2024 and
31 August 2025
NET BOOK VALUE
At 31 Augusl 2￿25
At 31 August 2024
There were no in￿stment assets outside the UK.
Pag8 27
Continued.....

RUSKIN MILL LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2025
16. DEBTORS-GROUP
31.8.25
31.8.24
Amounts falling due within one year..
Trade debtors
Other debtors
Prepayments
2,190.741
642.844
9e6,275
437.357
1414 945
16.
DEBTORS- CHARITY
31.8.25
31.8.24
Amounts falling du8 within on8 y8ar'.
Trade deblors
Other debtors
ATnDunts due frorn group enltties
Prepayments
1.677,939
46,681
1.800,873
749,128
172,438
231,880
3.364
3 528 451
1,156.810
Amounts falling due aftgr more than one year.
Academy of Makeis Ltd
Ruskin Gla88 Centre Ltd
768,851
512,017
Aggregatè amounts
4 040.468
2,446.637
Page 28
Continued.....

RUSKIN MILL LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2025
17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR- GROUP
31.8.25
31.8.24
Bank loans and overdraft8 (see note 17)
Trade ¢redilors
Soaal security and othertaxe8
VAT
Other crèditors
Accruals and d8ferred income
1.151.998
98,099
69,021
14,161
397.093
515,415
1.003.500
131.490
27,480
1,217
57,180
31.342
2,245,787
1.252.209
17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR- CHARITY
31.8.25
31.8.24
Bank loans and overdrafts {8ee note 17)
Trade creditors
Sml s8curity ￿ other t8xe8
VAT
Othei creditors
Amounts OW￿ lo woup enliiies
Ruskin Mill Trust
A￿ual5 deferred Income
1.091.998
21.771
3,053
14,620
2.094
1.4¥2
60.039
1.003,500
85,442
1869)
2.094
15.792
1,245.562
1 129 067
18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - GROUP
31.8.25
31.8.24
Bank loans (see note 1
Other loans (see nole 171
Dvfetred grarbl income
9.970.901 10.621,734
20.000
20.000
904,717
1100879
10 895.618 11.742,613
18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN OME YEAR . CTrIARITY
31.8.25
31.8.24
Bank loans {se8 nots 17)
9 870 901 10 621734
Page 29
Continued....

RUSKIN MILL LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 AUGUST 2025
19. LOANS
An anolysis ofthe rnaknrity of loans is gwen bebw..
31.8.25
31.8.24
Amounts falling due wthin ono year on demand:
Bank loans
1 151998
1,003 500
Arnounts falling between one and years..
Bank loans- 1-2 years
1.134,OD2
1167079
Ajnounts falling due between tsvo and five y8ars'.
Bank k)ans . 24 years
2 590,470
2 747 062
Amounts falling due in rnore than flve years..
Repayab￿ by in$lalments'.
Bank loans morè than 5 y88r8 by in8talmenls
Other loans MO￿ Ih8n 5 years by inslalmerrts
6,246.429
6,707,573
20.(100
6,727.573
8 727,573
20. SECURED DEBTS
The following secured debts are included withni credttors."
31.8.25
31.8.24
Bank lo￿5
11.122,899 11625,234
The aggregate amount of 8ecured liabdit18s in r8lation to Triodos Bank was £8,647,56112024
£9,418,289) which is secured by way of several 131 legal mortgages dated 6 November 2009, 15 March
2011, 26 November 2015. 9 November 2020 antj 25 Juty 2023 over the charty's fr88hold property. A
181 debenture dated 17 August 2012 comprising fixed and ffoating charg8 o￿T all 888els and
undertaknngs of Ruskin Mill Land Trust Umitèd both present and fukjre,. hgld in support of I
Company's unllmrted guarantee liability to the Charity. A 1st Iofe policy ctaled 31 May 21100 on th8 life of
A C H Gordon for the benefit of Rusknn Mill Further Education. The right of sel-off for any Ikqblllty ￿sts
agalnst any other accounts h81d with Triodos Bank by Ruskin Mill Land Trust.
The aggregate amount of socured liatmlilies in relation to Lloyds Bank plc was £2,160,339 {2024
£1,949,038) which was se¢ured by way of several 1st 18gal tharges over CDmmercial and ResKJential
Freehokl property dated 31 December 2012, 29 Septernber 2016, 29 May 2018, 19 S8ptember 2019,
18 November 2020, 15 Septemkr 2022 and 11 November 2022.
The aggregale amount of secxjred ￿8b￿l￿t9 in relation lo an interest onty mortgage regardlThJ 2A
Meadow Bank Road. Sheffield, which has been secured in favour ofTinlagel House (Sheffield) Limited,
was £155.LK)0 {2024. {£155,000). Th8 intar8St on this mortgage is to be repaid monthly by Ihg Charity.
Lwbilttiès Secured against properties represent 37% {2024- 39%) of th8 V￿u@ of freehold properties.
Page 20
Ctsntinued.....

RUSKIN MILL LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - contlnuod
FOR THE YEAR ENDED 31 AUGUST 2025
21. MOVEMENT IM FUNDS
Net
movement
in lunds
Al
31.8.25
At 1.9.24
Unrestrlctad funds
G8n8ral fijnd
18.628.571
3.983.982 22,612,553
Restrlcted funds
Restricted fvnds in a￿U1r¢d en
106.098
106.098
TOTAL FUNDS
18.628,571
4,090.080 22,718,970
Not mov8menl in funds. includ8d in th8 above ar8 as follows..
Inojrring
re5ciJrces
Resources
expended
Movement
in funds
UnYostrf¢tsd fvnd$
General knnd
UnreStr￿ted fvnds of acquired entities
7.459.371
2.383.811
15,859.200)
1.600.171
2,383,811
Restrlctsd funds
Restricted funds in ¥cqui￿d witity
144.353
138.255)
106.098
TOTAL FUNDS
5 897.455
9987.53S La 4090080
C¢xnparntivos for movèrnent in fvnds
movement
in funds
At
31.8.24
Al 1.9.23
Unrgstricted lunds
General fund
18.605.890
2.022.681 18.628.571
TOTAL FUNDS
16 605 890
2 022 681 18.628 571
Comp81atsve net movement in funds. iicluded in the above are 8$ foll￿..
In￿mIng
resources
R8sources
Èxpènded
Movem8nt
in funds
UnreBtrlcted funds
General fvnd
5,621.426 {3.598.7451 2.022.681
TOTAL FUNLK8
3.598.74
5,62f.426 ￿ 2.022.681
Page 31
Conlinued.....

RUSKIN fvMLL LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2025
CONTINGENT LIABILrnES
The ¢harlty acquired its Tintogel property in Sheffield from another charity, Tintagel ￿U$¢ ISh¢ffigid)
Limrted. In the e￿nt of the Tinlagel property and l or the ¢harity$ Sterfing Works property being
disposed of than a sum equivaléntto 20°k ofth¢ gros8 Sa￿ proc8eds bLrt not exc&8ding £770.￿0 shall
be payabk to TSntsgel House Isheffieldl Llmited.
23. RELATED PARTY DISCLOSURES
Underthe provision ofFinancial RepDrting Standard No. 102, related patytM$actiDns wtth othergroup
companies are &xempt from du%dosure as al of the conwanies are includg(I wthin these consolklated
financial stalemenls.
During IhF year, Mr A Gordon, B rlire¢tor of Ruskin Mill Land Trust Llmtted the corporBte 1wsle& of the
charity, was also a director of Ruskin Mill Trust artd tts subsidiaries Bran￿00￿ Spe(i81i$l Schi)ol,
Clervaux Trust Limf(ed, Transform Residential ￿Mited. Lantem Trading knmiled and Glasshouse
Trading Limited. These entities rent propety and purc*ase other services frorn the charity.
During th8 y88r grants re¢ewed. rental incowne and sales ofolhar 8eMce810 Ruskin Mill TTUStamounted
10 £2,623,571 12024 - £2,050.9021. Corresponding ￿gure8 for Bran￿oOd Speaalist School were
£332,440 12024 - £211,644), CleTvaLtx Trust Limited £131,728 12024 - £87.86n and Transform
Residential Limited £147.050 {2024 - £82,158). At 31 August 2025 8 total of £1,492,020 12024
£740.2761 was due from Ruskin Mdl Trust and its subsidiarie$.
Purchases in the year from Ruskln Mill Trust amunled to £nil {2024 - £niD. At 31 August 2025 8 total
of £1,552,059 {2024- £740.2761 was due to Rusknn Mill Trust. This indudgs iono-lerm loans.
Mr A Gordon is 8180 a Imstee of Seol Trust, a chanty registéred in DLrring the year sa￿S of
Senri￿S to Seol Trust amounied lo £40,768 PW24- £36,300). At 31 August 2025 £3,39912024- £nlll
was due from Seol Trust.
INCOAIE FROM SUBSIDIARIES. TRADING ACTivinES
The Ruskln Glass Centr• Limited
The charity owns the whole of the share capital of The Ruskin Gla8s Centre Limrted {r8gi%tered no..
040821191. which deals with the cornmercial letting of units comptfjsing part of the Gksshou5e College
site in Stourbridge. Its trading results for the year, as extracted from the financial statements. ar8
8Lwnrnarised below..
31.8.25
31.6.24
Turnover
Administrative expenses
115,782
107328
139,481
116,805
Retained profft
Sharehold8r8' funds
Transactions wth the paipnt undertaking, elimin8led on consolidation. includ? man8gemenl charges of
£10,80012024- £10.800} included in administrative expenses.
Page 32
Continued.....

RUSKIN MILL LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS- ¢ontinu0d
FOR THE YEAR ENDED 31 AUGUST 2025
24.
INCOME FROM SUBSIOIARIES. TRADING ACTIVJTIES - continued
Academy of Makers Llmlted
The charity owns the whole of the Share capital of Acatlemy of Makers Limited {regislered no..
06110134) whth de81s with th8 ¢ornmercAI letting of units and operated a cafe at the But¢her Works
site in Sheffiekl. Its trading resulis for the year as extracted from the auditgd fin8n(¥al statswnents are
summarised below:
31.8.25
31.8.24
Adfftinistralive expenses
Other operaling income
{237,221)
(94,67n
70.327
R8tain&d loss
28.058
Shareholders. funds
236.448
There were no transactions Mth th8 parent und8rtaking in the ye¥ P024- none).
Th• Lrf• 5cipnce Trust
The charity is the sole fflember of The Life Science Trvst Ir8gistsr8d no.. SC140925. chaiity numw.
SC020705)). a company limited by guarantee and registei8d in Scotland. Its resuks for the year. as
extracted from Ihe financigl statements, a￿ $ummari8ed bek)w'.
31.8.25
31.8.24
Charitablè income
Charitable expend51ure
(kne[rIan￿ costs
4,403
{23,668)
(255)
N8t expenditure
Fund8 ¢arr*d foThward
35.503
Dumg the year ￿derf 31 August 2023 the property assets and much ofthe onslte athiitlos of The LKe
Saence Truslweretransferred by means of a gifttr) Ruskin Mill C6ntrofot Re¥earch. a felk)wBubsidiary
{see below).
Page 33
Continued.....

RUSKIN MILL LAND TRUST
NOTE5 TO THE FINANCIAL STATEMENTS- ¢ontlnued
FOR THE YEAR ENDED 31 AUGUST 202
24.
INCOME FROM SUBSIDIARIES. TRADING ACTMTIES- continued
rir Cerfdwen
This company (registered no.. 12149016, eh8rity number.. 119227415hares trust88s in common wr
Ruskin Mill Land Trust. During Ihg yaar ended 31 August 2024, Ty'r Erthin Fam. a freehold property
in W8les, was transferred lo thi5 compary from Ruskin Mill Land Trust and rt started trading. Its resuhs
for Ihe year, as extracted from the finanaal slatements, arè $ummarised bekw..
31.8.25
31.8.24
Charitable income
Investmeftl income
Charitable expendrture
CovemBnce costs
450,¢)00
18.380
19.0001
18,931
(8,9731
Nel expendilure
Funds carried forward
454,744
Ru¥kln Mill Centre foT Practlee
This company (registered no.. 12660597, charty nUrn￿r= 12124801 started trading In thè year ended
31 Augus12023. taking oveT some o1th8 edi￿110n81 work fromth¢ patent charty. Itobtained charttable
status during the year ended 31 August 2025. Its results for the year, as extracted from the finana81
statements. ar8 summarised bekn¥'.
31.8.25
31.8.24
Tumover
Cost of sales
1,657.119
1271,276
1,457.631
Gross SUTpIus
Admini51ratiV6 8xpenses
385,843
365 843
531,945
531,945
Retained profftlllossl
Ros8rves
41,157
41,157
Ruskln Mlll Centr• lor Resear¢h
This company (registered no: OB871318, charity number.. 11837991 shares trusteos in common with
Ruskin Mill Land Trust and foTfnS part of tha group. During the year ended 31 August 2023, freehokj
property was transfarr8d to this company from The Life Science Trust, a f8llow subsidiary {$ee above).
The group's resgarch actfvities ￿ earrled on via this cornpany. 118 resuts for the year. as extracted
from the finanrAal statements. are summarised below..
31.8.25
31.8.24
Investrnent incomg
Charitable expèndlture
Govemance costs
40.787
140,004)
11 9151
36.3DO
{11,150)
Nel expenditure
Funds carried forwwd
Page 34
Continued.....

RUSKIN MILL LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - eontlnu•d
FOR THE YEAR ENDEO 31 AUGUST 2025
INCOME FROM SUBSIDIARIES. TRADING ACTIVITIES - ¢ontlnuod
Emerson College Trust LImIt￿l
As stated in the Report of thè Trustees, this company Iregislared ￿.. 00908985, charity numbar
3121011 joined Ihe Ruskin Mill Land Trust group on 10 October 2024. Its re8uK8 tor th8 y88r, 8$
extracted from th6 financial stat8monl8, are summarised bebw..
Period
11.10.24
Period
1.7.23
31.8.25
10.10.24
Income
Charitsble expendli ure
Govemanc4 costs
1,886,815
1.792.840
1827,922) 11.487.557)
883.￿6
Nel incomel(exp8Th1tture)
155.527
Funds carriBd foNRrd
2042917
1887.3
Em¢rnon Colleg• Enterprl$es Limlted
Thi8company Iregislgred no: 10534903) Is awhdty-ownad Ir8ding subsidiaryof Emerson Coll8yéTw$l
Limited and joined the gioup al thè same time as its parent compary. Its resulis fw the yew. as
extracted from th6 financial slatemènts, are summarised below..
Pertod
11.10.24
Pgrlod
1.7.23
to
10.10.24
31.8.25
Tumover
Cost of sales
1.865
Gross1053
Administrative axpenses
Olher operaling income
(6,5831
(19.7331
4,945
17.861)
Ret8Sned profiV(knssl
6.100
SharelK*lders' funds
27,470
Hellos Tru$t
As stated in thè Report ol the Twslees, this company Iregislered no.. 03270088. charity number..
10593021 joined the Ruskin Mill Land Trust woup on 29 August 2025. Al that date and at 31 August
2025, Ihe t¢)tsl lunds of Ihe comp8nywere £638.189. The nel assets of Helios Trust are induded in the
group acC￿nts for th8 yèar.
Page 35