REGISTERED NUMBER: 03509183 land and Wales REGISTERED CHARITY NUMBER: 1068485 htt ://www.bel ernortlllnill.or BELPER NORTH MILL TRUST limited b uardntee ort and Financial Statem¢nts for the Year Ended 31 December 2024
BELPER NORTH MILL TRUST Limited b Guarantee Coiitents of the fr inancial Statements t'or the Ye(Ir Ended 31 December 2024 Pabye Repoit of the Trustees 1-10 Report of the Indcpendent Examiners Statement of FinanciaI Aclivilies 12 Balance Sheet 13 Notcs to the Financidl Statements 14-18
BELPER NORTH MILL TRUS'r Limited b Guarantee rt uf the Trustees for the Year Ended 31 December 2024 -rhe "I rust¢es are pledsed to present their annual report together with the financial statements of the charity for the year ending 31 December 2024. which are also prepared to meet th¢ ru]reMentS for a Directors, i"cport aiid accounts tor Companies Act purposes. The tinaiicial stdteincnts comply with the Charities Act 2011, the Companies Act 2006, the 'frust's Mcinoranduin and ArtiLlcs of Association, and Accounling and ReportÉng by Charities: Statement of Recommended Practi¢¢ applicable to charilies preparing th¢ir accounts in accorddnce with the Financial Reporting Stdndard tor Smaller Entities. Chairs Re ort This is our second year of operation after the closurc of the North Mill Museum and Visitor Cenlre. Througli the hard work of the Volunteers. supported by'frustees, we got tvugh Ihe first yeiir. Despite several s¢tbiicks. in our second year, we have curne through, and grown and developed as an important provider ot. Heritage based serviLes, 'fours, "falks, W¢ilks', Community based events, Educational activities are now our cole busin¢ss. "fhey have proved to be popular and successt'ul. With the support of the Dei'went Valley Mills World Heritage Skte 'feam, Belper Town Council, Our Belper Mills and other paitners, supporters and custumcrs, w¢ have achieved a remai"kable amount Some of our main achievements are set out below: l. A llew Strategy alld Action Plan (J'ointly prepared with Trustees and Volunteers) to deliver our current scrvices. and to achieve our long-term aim to have a new Heritrdge Centre back in the Town. 2. Customer numbers up from 970 in 2023 to 1485+ est. (+53 % ) in 2024. WelL done everyone, especially the big boost from younger customers thanks to the WO of the Education Team. Achieving ourAction Pl¢in ot + IO% Target. 3. Reducing our Budget deficit prcdiction of minu5 £12k.to make a small sutplus that will further support our Charitabl¢ aims. 4. C105er ties with World Heritage site.feam - A WHS team member attends "frust M¢etings. 5. A¢cess to North Mill for one-off Events agreed with tEi¢ site managers F IREM. 6. A new in-house manaLFed Volunteer Co-ordillator post (pennanent from July 2024). 7. "fhe Arkwright Society Managtrement Agreement (sct up atter ihe Museuin closure) amicably made null and void, and new Co-operation Agr¢ement agreed to replace it. 8. 5 ncw Volunteers set on. Action Plan Target of 3 exceeded. 9. Risk Assessincnts completed for all serviccs. l O. Entertained our Ènends froin the Rhode Island HistoriLal Society. The fcedback from our guests was very positive tor us and the Town. I l. Enabliiig the display of the Bclper collection, notably th¢ Arkwright Water Frame, at Crumford Mills aiid divesting finanLiak responsibility for other items to help Lontiibutc to futurc financial viability. OUT successes have been acknowldgyed in our Trip Advisor and Google customci" Kwiews. We have received the 'frip Advisor Travellers Choice Award 2023 and 2024. Most importantly our Volunteers won the Gold Medal Award - Visit Peak District and Derbysbire for Team of the Year 2024125. Looking to the future Ive will- We will Colltinue to strive for the development of a Heritxge Centre in Belper as part of the redevelopment of the Belper Millsi Site. In the shorter term, we will -
l. Bring back to Belper Library, the 2 key items from the Belper Collection ('fhe Derby Rib Framework Knitting Machine and other Strult relaled items) -we dre ateful tor the support from Belp¢i' Town Council and Derbysl)ire County Council. 2. Further develop and expand our range of services to help attract people to the Town, and to recruit more Volunteers from as diverse back grounds as possible. 3. Produce a new 'Easy Read, Visitor 'Guidebook'. 4. Support the Joining Up Heritage Project. that will help all Belper's Heritage Groups to work together a5 effectively ds possible. Thanks to Derbyshire County Councillor John Nelson and Our Bclper Mills Chau" Roger Moores for their help with this. 5. Work with our publi¢ Healih Partners to promote Health and Heritage basd Projects in Belper. 6. Support the Belper 250 celebrations for the 2026, 250, Anniversary of the wnstruction of the first Belper Mill. Thanks to All who have supported us and who we look forward to workillg with in the future. lan Hill Chair of Belper North Mill Trust. On behalf ot. all our Trustees alld Volunteers. Our ose activÉties & futurc liins rhe objects of the charity and ils principal activiti¢s continue to be: the conservation, maintenance and protection tor the public benefit of the hislorical, archttecturdl, archaeological and industrial heritage of the Derwent V¢iLley in Derbyshire and. to advance the education of the public into the industrial hcriLage of the Derw¢nt Valley, with particular relcrcnce to Belper North Mill. For 2025, the objects of the chariiy will b¢ delivered through: The delivery of guided tours of the Belp¢r Mills site (including the North Mill's unique basement) and the surrounding area. The"frusl signed a 10 year lease lor Arcliway House, which is within the Belper Mills LompRex, in November 2022. Working with the Arkwright Socieiy to ensure that the most important items from our previous museum collection continue to be on public display at Croinford Mills. Education offer will continue on an outreach basib, supplemented with ali on-site offer. A prograiTllne of guid¢d local heritage talks and wall(s is also scheduled. Public Benetit "rhe Trustees contimi that they have given careful consideration to the Charity Commission's g¢na?I guidance on public benefit. "rhe public benelils derived from the Trusl's <lCtivilies include: The promotion of public education into the industrial heritage of the Delwent Valley, with Pditicular refei.ence to B¢lper North MÉll through the provision of guided tours of the site tor the public, schools and other parties. Interprelation of key 1t¢n from our previous museum collection at the AA(wrights Soci¢ty base in Cronitord. The pruvision of organised talks and walks to siles ol related local historical interest. Li¢iisingy wilh the Nurth Mill ownfflE / agents on conservalion and mainteniinLe requirements for the Grade I listed North Mill building. MorL' details of the events aiid activities thai have delivered public benefit are described Én the sections b¢low.
Bel er Noith Mill: conservation and lannin 'rhe Loiidition of the North Mill. a Grade l Listed building and one of the tnost significant structures within the Derwent Valley Mills World H¢ritagFe Sit4 continues to be a ¢ause for concem as only miniinal maintenanLe is ¢<irried out by the owners. The general Londition of the building, in the 'frust's opiiiion, continues to detei'iorate and consequently the costs of bringing th¢ building biick into a good state of repair Lontinue to inLreasc. The North Mill, together with the footbridge and horseshoc weir are on Historic EnLFland's 'At Risk Register,. Thcrc lire also concans about the integrity of the Rock Weir. on the south sidc of the river bridge. Duringi the year the Trust kept a watching brief on an as yet incomplete Planning Application for the Belper Mills complex submitted to Ambei" Valley Borough Council in May 2018 by the North Mill's owner GHL Ili'opeity Management and Developinent Ltd through their agent Fl Real Estate Management Ltd. 'fhe Trust w¢ILomes proposals for the redcvelopmcnt and revitalisation of the site and, logether wÉth other heritage based organisations, is concerned to ensure that ihe opportunity presentcd by the re-development proposal is used to preserve and enhance the significance of the h¢ritage of the site and in particular of the North Mill. The 'frust is ready and keen to support stakeholders in findiiig a solutioii to the conservation and financi<illy viable, ad<lPtive re-use of the Noith Mill and the larger B¢lper Mills site. Sti'ate ' L Plan The Strategic Plan for 2025 is mainly focused on: P<lltnering with stakeholders in 5ecurin¥ a use for the Bclper Mills 51te that faiilitates a sate and sustainable long t¢rn] future for the complex. Identifying, in Lollaboration with Ow World Hcritage Sitc panners, a viable long tenn heritage b¢is¢d visitor otTer for the Belper Mills site. Pending a long term soRution to the Belper Mills complex, deliver a heritage themed guidcd tour based trom the Belper Mills site. In paitnership with the Arkwrights Society, ensurc that the most importanl items from the previous Inuseuin collection continue to be oil public dAsplay at Crornfoi'd Mill5. Ensuring L<ipacity aiid relevant skills amongst I'rustces, Volunteers and staff. Collections Manil emcnt 'rhrough liaison with the collection owners and the Arkwri¥hts Society, during 2024 we have jointly ensured tliat the key items trom the Lollection remain on public display. Loan agreenient have PdSSed to the Arkwright S()ciety and we WO togethci. on thell intery)retation at th¢ Cromford Mills site. There reniains d few items where we are looking to set up public display option within Belper during 2025. Sclected ileins froin the colle¢tions have been showcascd on the Strulls Nvrth Mill website with the projcLt 'Oui' Favourile Things, fedturing some favourite objects chosen by oui" volunteei"s. Additionally, we have a 3D interaLtive tour of the form¢r museum and bas¢ment on our websile.
External Fundin During the year, with plans and efforts focused ensuring the new offer of guided Wdlks around the Belp¢r Mill sitc, exteiiial Funding grants were not sort for projects. Concentrntion Was prioritised on those "antS which w¢re not project based, including: £500 - Belper'fown Council - grant lowards promotional Losts. The Slrutt's North Mill Community Lottery. organised by the'frust, operates on a 50 150 split betwecn prizes and funds f'or th¢ 'fNst, geiierated £688 for thy Trnst in 2024. 'rh¢ poliLy for the next few years is for extamal funding to be linked to actÉons aiising trom the Strategic Plan. The Derwcnt Valle Mills World H¢rita e Site The Trust gratefully acknowledges the Lontinuing hclp and support of Derbyshir¢ County Council's Derwent Valley Mills World Heritage Site Partnership team lo th¢ work of the TTUSt in both thekr professional Lapacities and, on many OCLasioiis. as volunteers. The Trust is also grateful to our partllers at The Arkwright Society, its st¢iff and volunteers, for their support in th¢ developmeiit of a Partnerships Agreement and Collections Agreement durinLF 2024. Individu<il Irusteeb and volunteers serve on the Derwent Valley Mills World Heritage Site Conservation and Planning l)¢inel. Learning lind Research Panel. Development Panel" the Collections Group and the Ilescarch Sub-group. Admission Numbers In 2024, the seLond year of the"StNtI around the MAlls" tour of thc B¢lper Mklls site, a tot<il of 452 (2023',447) visitors Lame on the tour. Additionally we host¢d 302 (2023.-245) people at a range of herilagc based lalks. Oui" Sunday heritage walks attraLted 35 l (2023.187) customets. Plus wc had 85 (2023.91) childi.en attend our hdlf term heritage themed children's activities. Volunteers The 'fi'ust's ability to operale on a daily basis with minimal tinancial resourLes continues to be heavily dependent on its volunteers and trustces who undertake a diverse range of roles. This include% guided tours or the Belper Mills site, IoLdl heritage related walks and talks, an events programme. an ¢du¢alion offer and a research element ¢ilso. -fhere is also the back offkce roles required in ihe administration of a clritY and CURnpany all don¢ on a voluntary basis. Foi" 2024, it is estimated that 3,319 volunleer hou and 1,030 'fTUStee hourb by approXintelY 40 volunteers ¢ind trustees. FinanLially this can be notionally Vdlued at around £94,000 using ihe slandard Ndttonal Lollery Heritage b.und volunteer value basis.
Volunteel cont During 2024, the Volunteers delivered a number of ¢lCtivities including: 'rhe core offer of the "Strutt Around the Mills" tour - guiding visitors through Belper's industri<il T¢volulion <lS they walk around the sile. Visitors have come Irom as far as Canada, USA, Geiinany, th¢ Netherlands and Australia. We particularly w¢lcomcd the visii from the Rliod¢ Island HistoiiLak SoLiety in November 2024. 'fher¢ were two tours a week from East¢r to October. A heritage walk progran)me most weckends between May and September develop¢d and led by volunteer guides with support from volunteer back llrkers. The most popular of the walks during 2024 were the pub walks and ghost wall(s. both of which were oftcred on 3 occasions and were fully booked. One of our volunleepth and our Volunteer Co-ordinaloi have worked tirelessly to inarkct the walks on social medi¢l. Our Facebook followers has inLirdsed by over IOO/o to moir than 3,500 followeTS, Our online newsldtcr is sent to over 700 email subscrib¢rs. Eventng herita¥e talks to local groups including the Wl and U3A, as w¢EI as specKdl interest gyiYJups, The North Mill Education team of volunteers were very proactive and busy in 2024. They delivered heritage ¢ducation to a nutnber of local primary & secondary schools. Some of this cducation¢il offer was made at various sites on and off th¢ Belper Mills coniplex plus on an outreaLh basis. In total 275 children have received the offer. School holiday heritage related aetiviti&s for children have delivered seasonal craft sessions foi children and families in thc Ioclil community and from further afield. Thesc were very well attended and uften fully booked. It was pleasing to note how inany repeat bookings we had foi. different activity sessions. In line with our vision of being inclusive and building community engagyemcnt, free chÉldrcn's activilies were delivfflrd fortnightly in the River Gardens during the summer holidays. "fhese oftered us an excellent opportunity to engage with a diverse range of the public and hear their stories of Belper Id share with them what the trust and volunte¢rs werc doing. Collaboration with colledgues from the Arkwright Society in organising and supporting Hi¥hlighting Heritage falks as a joint ¢Dterprisc between our 2 organisations. Support to the Arkwright Socieiy Education Team from our volunleers tu enablc them to deliver school visits ai Cioinford Mills. Joint working with the Derwent Valley Mills World HerÉlag¢ Site Co-ordination Team, Our Belpci" Mills ¢ind Belper Historical Society. Monthly Volunte¢r Association meetings which are dynamic, participatory and creativ¢. Along with regular volunteer coffee morningi tdlks havc been instigated and well dttended. We also mdnned stalls at the Spring and Autumn Belper Farn]ers Market, a joint stall at B¢lper Goes Green, ¢ind an exhibitÉon stand at the Our Bclper Mills L'hristmds event. Our suLLcsscs have b¢en acknowledged in our Trip Advisor and Google custonier reviews. We have i"eceived the 'frip Advisor Travellers ChoÉcc Award 2023 and 2024. We are delighted to have been awarded the Gold Award in ihe Visit Peak DAStrict and Derbysliire, East Midlands - Voluntcer" ream of the year" award 2024125.
Our Pricin F Polic Pi"ices charLTed for the "Strutt around the Mills" tour was £7.50 for general adinissions witli accompanied cliildi'eii under 16 fire. This is to be nIntained fior 2025. The L.har¥e is competilively priL'ed against similar local attractions and we believc our priciiig poliLy t]eLtS our sli'ategy ut enabling all within our con]munity. whateva- their means, to tdke part in our activities, to dttend a guided walk. W¢ will also host a number of fr¢e community events during thc year that bring new visitors to Ilie site. Fiiiaiicidl Rcview The underlying balance sheet position of the Trust remains slmng. This is due to the 2016 bequest from the Reverend Canon Raymond Ross uf £340,768. The trustees have indicated their prefer¢nce that the bequest be used towards Securing the long terni acLoii]modation need5 of the TnÈst, ideally at the Belper North Mill site. Consequently there is an eamiarked reserve speLifically for this purpose. The "long tenn awommodation" preference would be a financially viable quality heritage offer at th¢ Belpci Mills sile, integral with the overdll redevelopment. The recent D¢rbyshirc County CounLil report"Options for d Visitor Centre at Belper" idcntified various options tor how such a centre could operate. The -frust is in support of devcloptnent at the Belper Mills site as idcntificd in the report. AdditiOil&illy, th¢ current owneis in their opening pardgraph of their planning application for the Belper Mills site stated "First Investment Real Estate Management (' FIKLM.) has a vision to provide new homes, leisui"e and business uses to the Mills to complement th¥ North MÉll Museum <ind existing business to creat¢ a visitor d¢stinalion that celebrates the importance of Belper Mills <lS part of the Derwcnt Valley Mills World l.leritag¢ Sites" Wc share their vision of d Vlsltor destination worthy of representing the World Heritage Site. The Tyust would look to use the majority of its e<lrn]arked reserve as match funding towards ¢xtem¢il funding linked to crtIng a heritagre based visitor centre to inlerpret, devekop and prescive the heritage of the DVMWHS with a particular eniphasis on the Belpcr Mills site. Throughout periods impacted from COVID, the Trust access&l a number of Government COVID support r<ints and received Business Continuity insurance assistance. In total, £75,973 of COVID girants and £6,650 Business Interruplion insurance pay out was received. We were fortunate that these grants have lliorc than Lovered our losses during periods closed due to COVID-19. Consequently. our general rcsaves stand dt £397,777 split £340.768 for an AcLon]mudation Developinent ProLrdmme and the balanLc of £57,009 in GeiieL21 Ileserves which are aviiilable to invest in our 2025 offer and underwrile futur¢ shoit temi losses whiLh have been estimilted at up to £8,500 for the next 3 y¢ars. Jnvestment owers <ind olic Following notitiLation that tlie -frust was to receive the Ross bequest. the Trust adopted a new Investm¢nt Policy. This was to invest the bequest money in: A nuinber of d¢posit aLcounts, each to be covered by the binancial Servic¢s Conipensation Scheme (FSCS); SuLh accounts may include a mixture of tixed dewsit bonds and variable intereit deposit accounts. 'rii¢ lead trustees of tlie ETinance and Resources sub-committee will decide upon ¢ind administer tliese accounls P<lrt ot their subconm]ittee's work. An <iiinual update to the Board and proposals for th¢ following year's investinents wkll take place towards ihe end of each calendai year. Currently the bequest monies are held in a mixture of dq)osit aLcounls and bonds. This LFives the "frust some flexibility in accessing funds if a tunding opportunity arises, whilst gelting secure a]Ual returns in thc me(Intinie. Working capital fwids will continue to be held in the current account.
Reserves Polic and Goin Concern General funds at the year-end al'e £397.777. An C<innarked reserve has been cr¢4lted with the Ross bequest of £340,768 and it is tlie Lurrent intention of the Trustees Ihat this origintil sum is not used to fund day to dlly Losts, but towards securing the Trust's future opertitions, desLribed as its 'Development Program,. "fhis is predomin<ileRy linked to seLUI"ing long tenn acLominodation tor the TrutTrt. "rhe b¢ilanLing uni'estricted general funds 01£57.009 does pmvide funding toward5 covering pliinned losses (of up to £8,500 a year) over the short tenn to ensure that th¢ offer as detailed in the Public Benefil section can b¢ delivered. It is planned that these UnstriCted general funds should not fall below £15.000. "fherefore, the "Devclopm¢nt Pr()gL'amme" reseive will be utilised as required to fund operating costs if the g¢n¢ral funds drop to £15,000. The "frustees take thc view that the Trust is a going concern. Referencc and administrativ¢ ddails Charity Number Company Number R¢gistercd OtfiLe 1068485 03509183 Archway House, North Mill. Bridgefool Belper, Derbyshire, DE56 1 YD Our advisors Independent Examiners Hunter Jones Alton, Chartered 36 BridbTe Street, Accountants Derbyshire DE56 IAX Belper, Bankers HSBC Bank plc Church Street, Derbyshire, DE5 3B Y Ripley, Directors and Trustees I'he dFI"eetors of the oharitable company (the charity) are its trustees for the purpose of charity law. The Tt'ustees and officers and ihobe serving during 2024 were as follows: Mr Ian Hill Mr Jon Hayes Mr Michael Kirk Ms iNanLy Lee Mr Phillip Doorbar Mr Peter Dunkerley Lady Lynn McLoughlin Cllr John Nelson nominated by Derbyshire County Council Mi David Wells nomindled by Belpei"'fowii Council Company Secrctary Treasurer miina ement eisonncl Volunteer Support Offic Ms Victoria Sheldon
Attendance at 'ftee Meetin Naine Number of meetings ¢ligible to attend iii 2024 Number of meetingvs attended in 2024 Mr l<in Hill Mr Jon Ha es Mr Michael Kirk Mr P¢ter Dunkerl¢ M¢Lou Ms NanL Lee Mi. Philli Doorbar Cllr John Nelson Mi David Wells hlin Six ordinai'y meetings of the Board and the Annual General M¢¢ting were held during 2024 and in addition pl<ll)niiig mcetings were held betwc¢n Board meetings. Structurc Governance and Mana Fcmenl Th¢ charity is inanaged by the BoaThl of Trustees. which can have up to 18 members. There are Lurrently 9 membeis. The day to day management is provided through our part time Volunleer Support officer along with "frustee support. Goveiiiin Do¢ument 'rh¢ organisation is a charitable company limited by gu<iranlee, incorporated on 12 February 1998 and registered as <1 chai.ity on 9 March 1998. The compliny was established under a Memorandum of Association that defined its objects and powers and is governed under its Article5 of Association. ointment of "frustees Under the temis of the Memorandum and Articles ol" Association the Board reL¢ives nomin<ltions for trustee membership fi.om Derbyshire C"ounty Council. Amber Valley Borough co]ckI. Belper Town CounLil. Belper HistOl"iCiil Society and the Belper North Mill Volunteers, Association. Membei's of staff of Amber Valley Borougyh Council and the Derwent Valley Mills World Heritagie Site, togetlier with a representative of the Dcrbyshire Historic Buildings 'frust may attend Trust meetings, ai the Boai"d's invitation, lo provide additional infom]ation <ind advi. onnal procedures for the appointment of truste¢s are used for appointments and all applicants. including tivstees s¢¢king re<ippointment and th05e noiiiinat¢d by org<iiiisations, completc the same procedures. A sele¢tiorL sub-Lomniittee ot the TNst reviews applic<ltions and makes it5 recommendatioJ]s to the full Board, which votes on all appointinents. "rrustee Indu¢tion and Trainin Tru5t¢e appliLanls are provided with backOUnd infomiation about the 'frust. its curreiit programs and priorities to inl.onn thcir applicatioi). This process has been extended bince 2018 to include iiiore extensive initial discussions to identify those areas in which w)t¢ntial tiustees C¢in contribute to the work dnd cUent skills needs of the 'frust.
Related arties and Lo-o eration with other o anisations None of the Tiustees receive r¢muneration or other benefit from their work with the Gharity. Any conncction between a trustec or staff member of the charity with a supplier to Ihe chai-ity Inust be disclosed to the full board of Trustees. Details of Trustees, ¢xpeiises and related party transactions e disclosed in Note 14 to Ihe tccounts. oli¢ for Tli¢ Pay of the employees is assessed annually on January ISI by the Operntionak Committee (ind the iecommended salary is submitted for the approval of Trustee5. Risk Mana ement 'rhe Trust tnaintains a continual overview of the polential risks thal could affect the charity in futur¢ Y¢. A Risk Register is considercd at each Board meeting. The trustees are satislied that sufficient provision is in place to mitigate these risks and that the reserv¢ funds are necessary and prudent in the circumstances.
Trustees. Res onsibilities in Relation to the Finaiicial Statemenls "rhe charity ti'ustees (who are also thc directors of Belper North DAill Trust for the purpos¢s of comp&iny law) are responsible for PTcparing a Truste¢s' annual rq)ort and financial statements in 4iLLordance with applicable law and United Kingdom Accounting Standards (United Kingdom Genei'dlly Accepted Accounting Practice). Coiiipany law requires the charity trustees to prepare financial statanents foi" each year which give a iru¢ and fair view 0£. the state ot" atta1 of the charitabl¢ company <ind the group and ot the incoming resouices arkd application of r¢sourc¢s, including th¢ income and expenditure, of the charitable group for that perfiod. In pi"epiiring the financial statcments, the trustees are r¢quircd to: sele¢t suitable aLcounting policies and then apply them consistently. observe the methods and principles. in the Charities SORP. make judgements and estiinates that <ire reasonable and prudent., state whether applicable UK accounting standai.ds have been followed, subject to any Inaterial departures disclosed 2nd explained in the financial statements. pi"epar¢ the tinancial statements on the going Lonccrn basis unless it is inappropriate to presume that ihe charity will continue in business. The trustees are responsible for keepinL propcr accounting records that disclose with ieasonable accur¢lCy at any tirne the financial position of the charity and lo enable them to ensure that the finanLial statements comply with the Companies Act 2006. They Lire also responsible for safeguarding the assets ol the charity and henLe tsking reasonable steps for the prevention and detection of fraud alld other irregularities. The ti"ustees are responsible for the mainten¢ince and integrity of the corporate and finiincial intorIiiatioii included on th¢ charitable company's website. LegislatRon in the United Kingdom governing the prq)aration and dissemination ot" financial statements may differ froni legislation in other juiisdiLtions. Statement as to disclosure to our Independcnt Examiner In so far as the "fTUStees are dware at the time of approving OUT Trustees. annual report: there is no relevant inforn]ation. being inforn]ation needed by the independcnl examineis in connection with prepaiing their report. of. which the chariLy'S independent exli1n¢rS are unaware, and the Trustees. having niade cnquiries of fellow directors and ihe charity's indq)endent examiners that they ought to havc individually taken, have each laken all steps that helshe is obliged to take as a dKrector in order to make themselves aware of any relevant audit knformatiuii and to establish th¢lt the indepeiident examiners are awarc of that intonnation. By order ot" the Board of Trustces lan Hill (Chair) Indc eiidcLlt Exdniiners A irsolution proposing Hunter Jones Alion be re-app)intcd ab independent exaniiners of the ch<lrity will be put to the M¢mbers at tlie Annual General Meeting. roval 'rhis L'eport has been approved by the Board of DirectoTh and Trustces and is signed on its bch¢ilf: Secretary Dated: £1 i'csl 110.1 io
BELPER NOKTH MILL TRUS"r
Limiicd b Guarant¢¢
le
ort of the Inde
endent Examiners to thc membe of Bel er North MIRI Trust
We report on the tinanciaR statcments for the year end 31 December 2024 on pages twelve to eighteen which
have been pi"cpared under th¢ histori1 cost convention and the aLcounting policies set out on pagie fourteen.
R&%p¢ctiv¢ responsibiliti of Lyustees and examiner
As d¢scribed on P¢iges one to ten the charity's trust¢¢s who are ¢ilso the directors of the Belper North Mill
"rrust for the purposes of. Lompany law. are responsiblc for the preparation of financial statements in
accordance with applicable law
BELPER NORTH MILL'fRUST Limkted b Guaranl¢e Statement of Financial Activili&s for the Year Ended 31 Deceinbcr 2024 Notes Unr¢stricted Restricted funds 2024 £ tunds 2024 £ All unreslrict reslricled and endowed fLtnds 2024 £ All unresliicted tricted ' nd endowed funds 2023 ILome Doiiati011s and legaLies 227 227 288 Inconle [roin Lh(Iril(Ible IILtivitie.s Op¢ration ot"tours, walks and talks 7,483 7,483 10,418 InccJi?ILI froni uih¥r ti'ciding uLl£iJilieJ Cominercial tiading opei-¢ltions 500 500 JncomLJfrcini jn)ieJlnieiil aLlivilie3 Deposit a¢count inlerest 16,869 16,869 14,479 Total irLLoming ro>ourc¢s Expenditure Cos13 (Jf rai.%ingfiinds.' Commercial traded operations 294 294 500 'penclilure ijn hui"iluble activilie3 Operation of tours, walks and t¢ilks 20,941 20,941 30,584 'rotal expenditure 084 Net income / (expenditurc} Movement in funds for the year {13.025} 16,869 3,844 (5,900) Net movemenl in funds Reconcilidtioii of funds Total Funds bi"oughi foiiv£ird Movein¢nt in fuiids 53.165 340.768 393,933 39C),833 3,844 3,844 (5,900) "I'otal funds carried forward 13 Tlie statemcnt of financial activities includes all gains and losses recognised in the year. All incomc ¢ind expenditure dcrive from continuin¥ aLtivitics. The noles on pages 14 to 18 fom] part of these finaiickal statements. 12-
BELPER NOR'fH MILL TRUST Limited b Guarantee Balance Sheet as at 31 Dec¢mbcr 2024 Notes 2024 2023 Current Assets Debtors Stocks C¢ish at bank & Én hand io 457 4,208 264 389 996 394,468 397 860 398.317 Creditors . Amounts falling duc within one year Nei Cuffent Assets Ii 540 535 397 777 393 933 Net Assets Funds Unrestricted income fijnds - General Funds Restricted funds - Dcvelopment PIoLFram reserve 57,009 53,165 340 768 'rotal Rcserves For the year ending 31 December 2024 the company was entitled to exetnption from audit under section 477 of the Coinpdnies Act 2006 relating to small companies. The Membe have not required the company to obtain an audit of its accounts tor ihe yeai" in question in accordance with section 476 'rhe directors acknuwkedge their responsibilities lor complying wilh the requiretnents of the Act with r¢speLÉ to accounting records and the prepardtion of accounts "rhcse aLcoutJts have been prepared in aOrdanCe with the piovisions applicable to wmpanies subject to the small companies, regime 'rhe financial statements on pages l2 to 18 were approvcd by the Trnstecs on signed on its behalf by: 2025 and were Dire¢t()I D(it¢d: ,3 j -1. 2) 'rhe iiotes on pages 14 10 18 fonn Pilrt of these financial statements 13
BELPER NORTH MILL TRUS"r Limited b Gu¢irantee Nutes to the Financial Statements for the Year Ended 31 December 2024 ACCOUN1'1NG POLICIES The prinLipal accounling polici¢s adopted, judxenients and key sources of estimation uncertainty in the preparatlon of the financial statemeiils are as follows.. a) Basis of preparation Thc financial statements have been prepared on a going concern basis in accordaiice with Accounting, and Repurting by Charities.. Statement of Recommended Practice applicable to ¢harities preparing theii. accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Chdrilies SORP {FRS102)), and the Companies Act 2006 lind the Charities Act 2011. Belper Noith Mill Trust meeis the definition of a public benefit entity undcr FRS 102. Assets and liabilities are initially recognised at cost or tTansactioii value unless otherwise slated in th¢ relevant aLcountinL policy notes. b) Prq)ardtioii of th¢ accounts oil a goiiig coiic¢rn basis 'rhe Truslees have at ihe time of dpproving the financial statement5 d reasonable cxpeLtation that the charity has adequate resourLes to continue in operalioiial existence for the foreseeablc future. Thus they continue to adopt the going concern basis of accounting in pi'eparing the finanLi(Il statements. c) Income r¢co¥nition policies Items ot. inLomc are recognised and included in tlie accounts when all of the tollowing criteria are met; Thc charity has enlitlemenl to the funds. Any perfonnance Londitions attached to thc item(s) of incotne hdve been met or are fully within the control of the Lharity. 'rhere is sufticient certainty that receipt of the incoine is considered probable. lind the amount can be measured reliably. d) Iiiterest receivable Interest on funds held on deposit 15 inLluded when receivable and the arnount Lan be measured reliably by the Charity, this ib notmally upon iiotification ofinterest receivable pcr the bank / building society. e) F und acLounting Unrestricted funds are <ivailable to spend on ilctivities that further any of the puiposes of the charity. Restricted funds are unrestricted tunds of the charity which the Trustees have decided at theAr dislretion Lo set asid¢ to usc for a specific PUTPQSC. D Expenditure Exp¢nditure is recognised once there is a legal or constructive obligation lo make a payment to a third party. il is probablc that seltlement will be required and the ainount of the obligbation can be ineasured reliably. Exp¢nditure is cl<issified undcr the following activiiy he¢idingss'. Costs of raisingy funds comprise the costs of commerLial ti"ading. mainly any trading of goods via ArLhway House or at events. Expenditure oli charilable activities includes the costs of running Archway Housc dnd sta Costs. 14-
BELPER NORTH MILL TRUS'r Limited b Guarantee Notes to the Financial Statements for the Year bnded 31 Deceniber 2024 oJ)tinued "rangible Fixed Assets The Trust owns a number of display items and artefdLts. Itcms beRow a de-minimis level of £5,000 per itcm are not capitalksed. The Tnjst Lonsiders that there dre no (owned) display items and art¢facts valued above £5,000. Stocks Stocks are valued at the lower of cosl or net realisable valu¢ afte[ making due allow¢in¢es for obsolet¢ and slow mov&ng items. Debtors 'riade and oiher debtols are recognised at the settlement amount due after any trade discount offered. l)repayments are valued at the amount prepaid after t<iking account of any trade discounts due. Cash <lt bank ¢ind in hand Lash at bank and cash in hand includes cash. current account and dq)osit dccounts / fExed terni ¢iccounts with a maturity of twelv¢ months or less from the diile of opening. Creditors and provi510ns Cieditors and provisions are recoLNnised where the chariiy has a present Obligation resulting fn)m a past event that will probably resLLIt in tlie transfer of funds to a third party and the amount due lo settle the obligiltion can be invasured or estimated reliably. Ci"editors and proviskons are nOMllY recognised at iheir scttlement amount after allowing for any Irdde discounts duc. Taxdtion The company is exempt from corporation tax on its charitable activities Pensions The company has a detilld contribulion pension scheme available to stiiff. Contributions are charged to the Stateinent of Financial Aclivities as they fall due. LeLsal status of the Trust "Ihe 'frust is a company limiied by guarantee and has no sliare capital. In ihe event of the chllrity being wound up. the liability in pect of the guaranle¢ is limited to £1 per Memb¢r of the chdiily. Income from donations 2024 2023 Donations reLeÉvcd 227 288 227 288 Tlie Trust is grateful for ¢1 number of sniall donatio5 received thmubihout the y¢ar. The Trust benefits gi"eatly from the involvement and enthusiastic support of its many volunteers, d¢tdfils of which £ire gyiven in our annual report. In acLordanc¢ with accounting staiidards, the eLonomi Lontribution ot" general volunleers is not measured in the accounls. 15
BELPER NOR'fH MtLL'fRUST Limited b Guarantee Notcs to the Financial Statements for the Year Ended 31 December 2024 continued Income from charitable aclivities 2024 £ 2023 Grcinl.5 rec'eiijcible Bclper Town Council - Grant Founddlion D¢rbyshire - Archway House set up costs contribution 500 2,839 2,000 4.839 4,206 651 500 6,295 Visitur Fees Oth¢T Income Insurance Payment Other InLome- Net income from Trusls lottery COVID Bubiness Intcrruption 688 7.483 722 10,418 Income from other trdding activities 2024 2023 Shop saRes 500 Cost of raising funds 2024 2023 Cost of sales 294 500 Expenditure on Lhdritable aLtivities 2024 2023 General promotion Renl, seivice ch¢irges and buildings insurance SalarRes & penskons Operational services - Arkwright Society OperatlllgT insurances Accountancy Electrictty Cobts associated with museum Llosure, collections r¢loLation and Archway House set up Other administrative costs - offiLe rents, equipment, IT, events Losts, training, volunteer training etc. 934 3,580 6,779 91 3,434 12,206 2,747 5,109 405 947 3,827 475 651 918 2,590 3,777 3,055 20,941 30,584 16-
BELPER NORTH MILL TRUST Limited b Guarantee Notes to the Financial Statemenls for the Year Endcd 31 December 2024 continued INCOME 14OR"fHE YEAR The suiplus ot income over expendilur¢ is stated after charging: 2024 2023 ALcountancy fecs s"rAFF COSTS No rcmuneratÉon was paid to th¢ Trustees in the year. The statt"costs were: 2024 2023 Sal¢iiies & Pension contributions The averag¢ weekly number of staff cmploycd, calculated as kull time equivalcnts during the year were as follows: 2024 2023 0.40 0.28 Administration No employee received rcrnuneration of more than £50,000. 10 DEBTORS 2024 2023 P.paYmentS VAT Other Dcbtors 396 61 246 3.463 499 457 4,208 CREDITORS: AMOUN"rs FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals 540 535 540 5,35 17
BELPER NORTH MILL"fRUST Limited b Guarantee Notes to th¢ Finaiicial Statements for ihe Ye(Ir Ended 31 Deceiiiber 2024 continued 12 Stt}tncnt of tunds Atl January 2024 Income. Expenditure Mov¢m¢nt between funds A131 December 2024 Unrestiicted funds General FLLnds 53.165 25.079 -21,235 3,844 57,009 Eiim]aiked Funds Development ProLTf&im reserve 340.768 340,768 393,933 25,079 -21.235 3,844 397,777 13 Trustces, Remuneration and Expenses Remuneration - During the year no Trustees were either anployed or received any remuneration. Expenses - out of pocket expenses were reimbursed to two Ttuslees. £4 was paid to the Chair, lan Hill and £32 to l)cter Dunkerley. 14 CurporatÉon Tlixation "rhe Lhaiity is cx¢mpt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the'faxation of Chtirgelible Gains Act 1992 to the extent that thesc are applied to its charitable objecls. 15 Group undcrtakinLTS On 31 December 2019, Belper North Mill Trust became a 500/0 shared owner with The Arkwiight Society Ltd of Derwent Valley Tours Ltd (Lompany number 12381104). This joint veiitur4 pJ'¢doininalely fvnded froin DVMWHS Great Place Scheme ._ D3 Experiment Fund, is to assess the feasibility of a sustainable transport based heritage visitor "day trip" offer across the World Heritage Site. 'frading cotntnetkLed in 2021 but was limited by the COVID-19 pandemic. 'fhe pilot project concluded in 2022. During 2024, there were no transaLlions with th¢ company wliich is in tlie process of being wound up. 18