REGISTERED NUMBER.. 03509183 land and Wales REGISTERED CHARITY NUMBER.. 1068485 htt ://www.bel ernorthmill.or BELPER NORTH MILL TRUST Acom an limited b uarant¢¢ ort and Financial Statements for the Year Ended 31 DecembL'r 2025
BELPER NORTH MILL TRUST Limited b Guarantee Contents of the Financial Statements for the Year Ended 31 Decetnber 2025 Page Report of the Trustees i-io Report of the Independent Examiners Statement of Financial Activiti 12 Balance Sheet 13 Notes to the Financial Statements 14-18
BELPbR NORTH MILL TRUST Limitcd b Guarantcc ort of th¢"frustees for the Year End¢d 31 Deccmber 2025 The Trustccs are pleased to present thcir annual report together with thc financial statcmenls of the charity for the year cndiTJg 31 Deccmber 2025, which are also prepdred to mcct the r¢quirements for a Directors, report and accounts for Companies Act puryTroscs. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Trust's Mcmorandum and Articles of Asso¢iation, and Accounting and Reportin¥ by CharitLCS: Statement of Rccommended PraLtice applicablc to charitics preparing thcir dOuntS in accordance with the Financial Reporting Standard for Smaller Entities. Chairs Ke ort 'rhis is our third year of oprration aftcr the Llosure of the North Mill Museum and Visitor Centre. Through the hard work of thc Volunteers, supported by Trustees, and Victoria, our only ,and excellent, paid Tcam member, wc made tremcndous progrcss last year, growing and dcvcloping as an important providcr of Heritage based scrvi¢es, Tours. -falks, Walks. Community based events, Educational activities. are now our core business. They have proved to be popular and successful. With thc support of the Denvent Vallcy Mills World Heritagc Site 'feam, Belpcr-fown Council, Oui Belper Mills, Amber Vallcy Partnership and other partncrs. supportcrs and customers, wc hav¢ stabilis¢d and then Improv our position from the rcmarkable progrcss made last ycar. Some of our main achicvcmenls are scl out below.. l. Set out our Stratcgy and Action Plan tiointly prq)ared with 'fte¢S and Voluntcers) to delivcr our currcnt Services, and to achieve our long-terni aim lo have a new Heritage/Visitor Centre back in the Town is woikingi well. 2. Customer numbers up from 970 in 2023 to 1485 in 2024. {+53 /0) to over 2,000 (+ 40 % ) in 2025, that is #round double the numbci from thc first year after the Museum clos¢d. Well done to cveryonc. C5pecially the big boost from younLer customers thanks to th¢ work of thc Education Team. Exceeding our Action Plan-farLiet of + i 0%. A renwkable achievcmcnl. when you consider we had around 2,500 Museum visitors annually. 3. Accc55 to North Mill for one-off Events agrecd with the sitc managers FIREM. Enabling the display of the Bclpcr Lollection, notably the Arkwright Water Framc. at Cromtord Mills and divc5ting financial re5wnsibility for other itcms lo help contributc to our future financial viability. 5. Returned lo Belper thc machine that started it all for the Strutt's- Th¢ Framework Knitting Machine with Jcdcdiah Stnjtt's D¢iby Rib Attachment- Now OD display in Bclper Library. 6. Receivcd cxvellent support fmm our Partners and Fricndb at the World Heritage Site Tcam, Belper Town Council. and Atnbcr Valley Partncrship who ¢[bled us to put on 2 free Family Fun Ddys. 7. Supportcd B¢lper 250 prcparalions- Produued The Anniversary Calcndar b. Securcd a £1,500 FouJ)dation Dcrbyshire Grant to support the Evcnls Programme. 8. Supported thc JuininLY Up Hcrilage Projcct, Ihal will help all B¢lper's Hcrita¥c Groups to work together as effectivcly ab possiblc. 9. Vi6il Peak DistriLt and Derbyshire for Tcam of the Year Award Winners 2024125. Award madc March 2025. 10. Our successes have been acknowlcdgied in our Trip Advisor and G(J)gle customcr Reviews. Wc have reccived the Trip Advisor Tvr]lerS Choice Awaid 2023,2024,2025.
Looking to the fulurc we will - Support our MP'S Partnership Group to work towards a start on works to improvc and repair thc North and East Mills and make provision for a new Heritagelvisilor Centre. 2. Further dcvelop and cxpand our rangc of servi¢¢5 to hclp attract people to the Town, and to recruit more Volunteers from as div¢rse back grounds as possible. 3. Offer a full range uf Heritage Walks, Talks, Tours of the North Mill site and evcnts for young people on site or al Schools and othcr venues. 4. Produce a new 'Easy Read, Visitor Guidebook for World Hcritage Day 18, April 2026. Written by our Voluntecrs. 5. Subrnitting additional Funding Bids to bupport our Evcnts Progrdmmc. 6. Support the Bclper 250 cclcbrations for thc 2026, 250, Anniversary of thc constru¢lioll of the first Bclpcr Mill. Including-fhc Walking Wcck. Talks, Annivcrsary Ales, with Crich Brewery, to name but a few."fhanks to Foundation Derbyshire tor th¢ir Grant to help with this. Thankb lo all who havc supported us and whu we look fonvard to workin¥ with in the fulurc. lan Hill Chair of Belpcr North Mill Trust. On bchalf of all of our Trustees and Volunteers. osc activitics & future lans The objccts of the charity and its principal activities continuc to be.. the conservation, mainlcnance and protection for the public benefit of the histori¢¢il. architectural, archacologTrical and indu6trial heritagc of the Denvcnt Vallcy in D¢rbyshir¢ and- to advance Ihc cducation of the public into the industrial herilagc of the D¢n¥cnt V<illcy, with particular rcference to Belpcr North Mill. For 2026, the objects of the charity will bc delivered through.. The delivcry of guided tours of thc Belper Mills sit¢ (including the North Mill's unique basrment) and thc surrounding arca. The Trust signcd a 10-ycar le&lS¢ for Ar¢hway Housc, which is witkn'n the Belpcr Mills complcx, in Novembcr 2022. Working with the Arkwright Society lo ensur¢ that thc most important items from our previous museum collection continue tu bc on public display at Cromford Mills. An cducation offer will continue on an outr¢ach basis. supplemcnted with an on-site offer. A progrdmme of guided local heritage talks and walks is also scheduled. Public Benefit The Trust¢¢s confirni that they have given careful considcration lo the Charity Cummission's gencral gyuidance on public b¢llefit. The public bencfits d¢rived from the Trust's activities includc.. 'rhc promotion of public edu¢ation into the industrial herita¥c of. thc Denv¢nt Vallcy, with particular r¢fcrence to Belpcr North Mill through the provision of guidcd tours of the silc for th¢ public, schools and other parties. Interprclation of key items from our previous museum collection at thc Arkwrights Society base in Cromford and at Belp¢r Library. The provision of organiscd talks and walks to Sltes of related local hi5torieal interest. Liuising with the North Mill owners / agents on Conservation and mainlcnancc rcquircments for th¢ Gradc I listcd North Mill building. More details of the ¢vents and avtivities that have delivcred public bcnefit arc described in the sections bclow.
Bcl cr North Mill: conservation and lannin Thc Londition of the North Mill, a Grade l Listed building and one of the most significant structur¢s within the Dcrwent Vallcy Mills World Heritage Sitc, continues to be a cause for concern as only minimal maint¢nance is carried out by thc owners. Thc ¥cneral condition of the building, in the Trust's opinion, continues to detcriorate and consequently the cost5 of bringing thc building back into a good statc of repair continue to increas¢. Thc North Mill, togcther with the footbridge and horseshoe weir arc on Historic England's 'At Risk Rcgister,. Thcrc are also conccms about thc int¢grity of thc RoLk Weir, on thc south side of thc river bridge. During thc year the Trust kept a watchin¥ brief on an as yet incomplelc Planning Application lor the Bclper Mills complex submittcd to Amber Valley Borough Council in May 2018 by the North Mill's owner GHL Property Managcment and Dcvelopmcnt Ltd through thcir agent Fl Real Estate Managemcnl Ltd. The Trust wclcomes proposalb for the rcdevelopmcnl and revilalisation of the sitc and. together with other heritage bascd organi5alions, is contierned to cnsure that thc opportunity prcsented by thc rc-dcvelopment proposal is used to prescrve and enhance the significance of'thc hcritage of the site and in particular of the North Mill. The Trust is ready and keen to support stakeholders in finding a solution to the conservation and f)nancially viable, adaptive re-us¢ of the North Mill and thc larger Belpcr Mills site. Strate c Plan "rhe Stratc¥iL Plan for 2026 is mainly focused on: Partnering with stakehold¢rs in sccuriDg a use for the Belper Mills site that facilitates a saf¢ and sustainable long-tenn futurc for the complex. Identifying, in collaboration with our World Hcrita¥e Site partncr5, a viable lon¥-temi heritagc-bas visitor ofier for the Belpcr Mills site. Pcnding a long-terni solution to thc Belper Mills complex, dclivttr a heritage themed guided tour - based from the Bclp¢r Mills sitc. In partnership with the Arkwrights Society, ensurc that the most important itcms from the previous muscum collection Lontinuc to be on public display at Cromford Mills. bnsuring capacity and rcl¢vant skills amongst Twstees, Volulltccrs and staff. Collcctions Mana cment Throu¥h liaison with the collcclion owncrs and the Arkwrights Socicly, during 2025 we have jointly ensured that thc kcy items from the collcclion remain on public display. Loan agrccment havc passcd lo the Arkwright Socicty and we work logethcr on their intewrctalion at thc Cromford Mills site. 'rhe Dcrby Rib knitting frame machine remains on loan to the Trust and is now on public dibplay at Belp¢r Library. Selected itcms from the collections have been showcased on the StNtts North Mill website with the projcct 'Oui bavouritc Things. featuring somc favourite obj¢cls chosen by our volunteer5. Additionally, wc have a 3D interactive tour of the formrr museun] and basemcnl on our wcbsite.
External Fundin During the year, funding bids werc made lo dcliver specific projects. including- £500 - Belp¢r'fown Council - grant towards promotional costs. £846._ Belper-fown Council - grdnt towards Dcrby Rib machine relocation to Belper Library. £800 - Ambcr Valley Borough Council- grant towards fr¢c family fun day. Thc Trnsl has also sccured £1,500 from Foundation Derbyshire towards Bclpcr 250 Cclcbrations in 2026. Paymen15 for this project will Lommen¢c in 2026. The Trust has also secured a very gcnerous contribution of £5,000 from First Invcstments towards the production of a book being produced cclebrating the 250th anniversary of the first cotton mill opening in Bclper and 300 years since thc birth of Jcdidiah Strutt. The Strull'5 North Mill Community Lollcry. organised by the Trust, operdtcs on a 50150 split bclwcen prizes and funds for the Trust, gencrated £674 for Ihc-frust in 2025. The policy for thc next fcw years is for external funding to be linkcd to actiOT]s arising from the Strategic Plan. The Dcn¥enl Valle Mills World Herita c Site Th¢ Trust gratcfully acknowledgcs the cuntinuing hclp and support of D¢YShIrC County Council's Denvcnt Vall¢y Mills World Hrrilage Sitc Partnership team to the work of the Trust in both thcirprofessional capaLilics and, on many occasions, as voluntcers. Individual truste¢s and volunteers scrve on the Denv¥nt Valley Mills World Heritagc Site Conscrvation and Planning Panel,. Learning and Research Pancl,. Development Pancl- the Collcctions Group and thc Research Sub_group. Admission Numbers In 2025, the third year of the"Strutt around the Mills" tour of the Belpcr Mills sitc, a total of 472 (2024..452) Vi51tors camc on th¥ lour. Additionally, we hosted 509 (2024..302) peoplc at a range of heritage-bascd talks. Our Sunday hcritage walks attracted 371 (2024..351) customers. Plus, we had 138 (2024=85) Lhil(Iren altcnd our school holidays h¢ritage thcmed ¢hildren's activities. Volunteers The Trust's ability to operat¢ on a daily basis with minimdl fancial resourccs continucs to b¥ heavily dependent on ils volunteers dnd trust¢cs who undertake a divers¢ range of roles. Th]"s inLludes guidcd tourb of the B¢lper Mills site, local heritage related walks and talks, an cvents programm¢, an education offer and a resedrch elemcnt also. There are also the back-office roles required in the administration of a charity and con]pany all donc on a voluntdry basis. For 2025. it is eblimated that 4,092volunteer hours and 912 'frte¢ hours by approximately 40 vulunteerb and trustees. Financially this Lan be notionally valued at uround £107,000 using thc standard National Lottcry Hcritage Fund volunteer value basis.
Voluntccis cont. During 2025, the Voluntecrs delivered a number of activitics including.. Thc core offcr uf the "Strutt Around thc Mills" tour- guiding visitors around the Belpcr Mills site and into the North Mill basement to discover thc history of thc Strutt tamily and their rolc in the industrial rcvolulion. A ncw tour focusing on law and order in the mills was introduced ontse a month. There wcre four tours a week from March to October, plus extra privatc group bookings. A popular heritage walk progTrrammc between May and Dcccmber devcluped and led by voluntccr guides with support from voluntecr back markcrs. We havc varied the tim¥s and days io reach mure visitors tFu"s yrar, and many of the walks this year have been fully booked. 'fwo of our walks were part of the Autumn Footprints Festival. We havc also had private gyoup bookings for walkb. From the work of our social n]rdia volunteer and our Volunteer Support otyiccr our Facebook onlin¢ presence has grown by 150 net follc)wer8 this year to ovcr 3.700, and Instagram has grown by 100/0 lo over 1,300 since last y¢dr. Our online newslclt¢T has almost 740 email subscribers. Hcritage talk5 to local groups special interest groups have bccn very popular and havc resulted in follow up walk and tour bookings. 'rhe North Mill Education team of voluntccrs were very proactive and busy in 2025. They dclivered heritage cdulation to a number of local primary and secondary schooly, mostly through outrcach Scsbions although two schools did vibit the mill. 'fhey cunlinued building their relationbhip with the Royal School for thc Dcaf. The education team developed a new offcr for Scouts and Guides of Mystery at the Mill which has provcd vrry succcssful and popular. Dclivered two fully bookcd Family Pun Days and two sold out wreath making sessions. Collaboration with colleagucs from the Arkwright SoLiely or¥anising and supporting Highlighting HcritagFe Talks a5 a joint cnterprise bctwcen our two organisations. Support lo the Arkwright Society to get the machinery in placc with intewrctation. Organised the installation vf the Dcrby Rtb I,ramework Knilling Machinc and portrait with interpretation in Belpcr Library. Joint workingF Wlth the Denvcnl Vallcy Mills World Ileritagc Sitc Co-ordination Team, Our Belper Mills, Belper Histurical Socicty, Love Belper, Bclpcr Unitarians and other partncrs. Monthly Volunteer Association meetingys which are dynamiL, participatury and creative. Volunteer coffcc morning talks by volunteers and outsid¢ speakcrs throughout the closed period are popular and wcll attended. We also had stalls or a pr¢tsence at the Spring and Autumn Belper Fanncrs Market, Ovcr 50s Belpcr Fornm, Library Awarcncss Day for those with si¥hi impairn]cnt, Belper U3A, Local History Fair and VBIVJ Day celcbralions. Wrilt¢n a book c¢lebrating the Strutt Mills of Belpcr and Milford, to be publishcd in 2026 as part of thc Belper 250 Lclebrations. 'rhe submission ot'bids for grant funding- Foundation Derbyshire, Amber Valley Health Partnership and Derbyshire Makes History (DMII)- Went along to Visit Peak District and Dcrbybhire nctworking trips to IoLal attractions. Our SU¢Lesses hav¢ been acknowledgcd in our Trip Advisor, Beyonk and GgI¢ vustomer revicws. We have reccived the Trip Advisor-fravellers Choice Award 2023, 2024 and 2025. We arc dcligihted to have been awarded the Gold Award in the Visit Pcak District and Derbyshire, East Midland5. _ Voluntccr""feam of the year" acLepted at thc Leremony in ma. Our Pricin Polic Prices charged for the "Strutt around the Mills" tour was £7.50 for gcncral athnissions with aOMpanied children undcr 16 free. This is to bc maintaincd for 2026.
The char¥c is compctitively priccd against similar local attractions, and we bclicve our pricing policy reflects our strategy of enabling all within our COTntnunity, whatever their mcans, lo lak¥ part in (iur activities, to ¢lttend a guided walk. We will also host a numbcr ot. free community events during thc ycar that brin¥ new Vibilors to the site. Financial Rcview The undcrlying balance shecl position of the Trust remains strong. This is due to the 2016 bequest from the Reverend Canon Raymond Ross of £340,768. 'fhc trustees havc Indited their pref¢rcnce that Ihc bcquest be used towards securing th¢ long-l¢m accommodation needs of the Trust, ideally at thc Belper North Mill silc. Cons¢quently, Ihcre is an m)ark¢d reserve spccifically for this puOSe. The "long temi accommodation" preferenL¢ would bc a financially viable quality heritage offer at the Bclper Millts site, integyal with Ihc overall rcdevelopmcnt. Th¢ rccent Derbyshire County Council rq)ort"Oplions for a Vi51tor Cenlrc at Belpcr" identified various options for how such a centrc could operate. The Trust is in support of development al the B¢lpcr Mills silc as id¢ntified in the report. Additionally, the Cuent owners in their opening paragraph of their planning appli¢ation for the Bclper Mills site slated "Firbt Inveslmcnt Real Estate Management ('FIREM'} has a vision to provide new homcs, leisurc and business uscs to th¢ Mills to complemcnt the North Mill Nluseum and existing business lo crcate a vi%itor destin4lion that cclebrates the importance of Belper Mills as part of the Dcrwent Vallcy Mills World Heritage Sites" Wc share thcir vision of a visitor d¢stination worthy of rq)resenling the World Heritd¥C Site and arc an active Contributor alongsidc a numbcr of other stakeholders in trying lo dcliver this aitn. The Tn1 would look to usc the majority of its eamiarked rcscrve as match funding towards external fundin¥ linked lo creating a heritage-bascd visitor cenlrc to inl¢Jpret. devclop and prcserve the heritdge of the DVMWHS with a particular emphasis on the Belper Mills 51te. Throug.hout periods impactcd from COVID, the "frust acccssed a number of Governmcnt COVID support grants and rcccived Busin¢ss Continuity insurance assistancc. In total, £75,973 of COVID grants and £6,650Busincss Interruption insuran¢c pay out was rev'cived. Wc were fortunate that these ¥rants h¢lVC more than covered our losscs during periods closed due to COVID-19. Consequcntly, our general reserves stand al £403,024 split £340,768 for an Accommodation Devclopm¢nt Programme and the bal<ince of £02,256 in Gencral Reserves - which arc available to invcst in uur 2026offcr and underwritc tulurc short Icrn] losses which have bccn estimated al up to £7.600 for the next 3 years. Investment wers and oli Following notification that thc Trust was to receive the Ross bequest,. the Trust adopted a new Inveslmcnt Policy. This was to invest Ihc bequest money in.. A numbcr of dq)osit account6, cach lo be covered by the Financial Services Compensalton Scheme {FSCS). Subh accounts may includc a mixture of fixed deposit bonds and variable interest dcposil accounts. -rhe ledd trustees ot. thc Financc and Rcsourees sub_committec will decide upon and administer these accounts as part of their subcommittee's work. An annual update to the Board and proposals for thc following year's invcstments will takc place towards the end of each calendar year. CUentlY Ihc bequcst mollies ar¢ held in a Mixture of dq)osit accounts and bonds. This gives the Trust somc flexibility in accessing funds if a fundin¥ opportunity ariscs, whilst getting securc annual returns in the meantime. Working capital funds will continue lo be held in the current account.
Rescrves Polic and Goin Concern Gcn¢ral tunds at the year-cnd are £403,024. An camiarked rcscrve has bcen created with thc Ross bequcst of£340,768 and it is thc vurrent intcntion of thc Trustccs ihat this urigiinal sum is not us¢d to fund day to day costs, but towards securing the Trust'6 future opcrations, described as its 'Developmenl Program,. This is predominalcly linked to securing long terni accommodatioll for the Trust. Thc balancing U¢StriCted general funds of £62,256 does provide funding towards covcring planned losses (of up to £8.500 a ycar) over thc shurt terni to cnsure that the o*ter as detailed in the Public Bcncfil section can be delivered. It is planned that these unr&8lricted gencral funds should not fall below £15,000. Therefore, the "Development Programme" rcserve will be utilised as required to fund opcrating costs if the general funds drop to £15,000. Thc Trustees take the vicw that thc'frust is a going ¢onccrn. Retcrcn¢e and administrative details Charity Nurnbcr Company Numbcr Registcrcd Oftice 1068485 03509183 Archway Housc. North Mill, Bridgetoot Belper, Dcrbyslll"rc, DE56 IYD Our advisors Independcnt Exarnincr5 Hunt¢r Jones Alton, Chartcrcd 36 Bridgye Strccl. Accountants Derbysknrc DE56 IAX Belpcr. Bankers HSBC Bank plc Church Street, Derbyshire, DE5 3BY Ripley, Dirc¢lors and -frustees The directors of the charitable company {thc charity) are ily trustees for the putyosc of ¥harity law. Thc 'frustees and officcrs and thosc serving during 2025 wcrc as follows.. Chair Company Sccrctary Trcasurer Mr lan Hill Mr Jon Haycs Mr Michacl Kirk Ms Nancy Lcc Mr Phillip Doorbar Mr Pcter Dur)kcrley Lady Lynn McLoughlin Mr John Nelson Cllr Emma Monkman nominatcd by Derbyshire County Council Mr David Wells nominat by Bclper Town Council mana cment ersollnel Volunteer Support 01ccr Ms Victoria Sheldon
Attendan¢¢ at Trustce Meetin Name Number of mectings eligiblc to atlcnd in 2025 Numb¢r of meetin¥s attended in 2025 Mr lan Hill Mr Jon Ha es Mr Michacl Kirk Mr Peter DuJthcrle McLou Ms Nanc Lee Mr Philli Doorbar Cllr John Nclson Mr David Wells Cllr Emma Monkmtin Six ordinary meetings of the Board and the Annual Gencral Meeting were held during 2025 and in addition plaTuJing mcctings were held betwccn Buard meetings. Structure Gov¢rnance and Mana emcnt Thc charity is managed by the Board of Trustees, which can have up to 18 membcrs. Thcre are centlY 10 members. The day-to-day management is provided through our part lime Volunteer Support Ol¢cr alon¥ with Trustee support. Gov¢rnin Docum¢nt Th¢ orLFanisation is a charitable company limited by guarantee, incorporated on 12 Fcbnjary 1998 and regi5tcred as a charity on 9 March 1998. The colnpany was establishcd und¢r a Mcmorandum of Assol'iation that defined its objccts and powers and is govemcd undcr its Articl of Association. ointment of Trustecs Und¢r the tcrnis of the Memorandum and Articles of Association the Buard reccives nomination5 for trustee membership from Derbyshire County Council,. Ambcr Vall¢y Borough Council. Belpcr Town Council., Bclper Historical Society and thc Belpcr North Mill Volunt¢crs' Association. Mcmbers of staff of Amber Valley Borough Council and the Denvent Valley Mills World Heritage Sitc, logeth¢r with a representative of thc Derbyshirc Historic Buildings Trust may attend Trust meetin¥s, at the Board's invitation. to providr additional inf()rmation and adviL¢. Fornial procedurcs for the appointment of trustees are used for appointmcnts and all applicants, including, trustecs seeking rcappointmcnt and those nominated by organisdlions, complcte the samc procedurcs. A bclection sub-committee of the Trust reviewb dpplications and makes its rccommcndalions lo the full Buard. wFLich votes on dll appointm¢nts. Trustec Induction and'frainin Trustec applicants are provided with background infonnation about thc Tru51, 115 currcnt programs and prioritics to inforni their application. This process has been cxtendcd since 201 s to include more extensive initial discussions to idcnlify thosc areas in which potential Irustec5 can contribute lo the work and current skills nfjcds of the -frust.
Kelatcd artics and co-o erdtion with othcr or anisalions Nonc of tTrLe Trustees rcLeive rcmuneration or othcr benefit from their work with the charity. Any connection betwcen a trustee or staff mcmbcr of the charity with a supplier to the charity must bc dis¢losed to the full board ofTrLlStees. Details of Tru5tees' cxpenses and relatcd party transactions ale discloscd in Notc 14 to thc accounts. olic for staff 'rhe pay of the cmploycc5 is asscssed annually on January I, by thc Operational Committee, and the recommendcd salary is submitted for the approval ot'Trustees. Risk Mana cment 'rhe Trust Maintains a Lontinual overvicw of thc potential risks that wuld affclt the charity in future years. A Ribk Rcgister is considcred at cach Board meding. Thc trustees are satisfied that sufficient provision is in plaLe to mitigatc these risks and thul the r¢serve funds arc necessary and prudcThl in thc Lircurnstances.
Trustces, Rcs onsibilities in Relation lo the Financial Statements The charity trustees (who are also the dircctors of Belpcr North Mill Trust for Ihc purposes of company law) are rcsponsible for preparing a-frustees, annual report and financial slatcments in acLordance with applicable law and United Kingdom Accounting Standards (United Ktngdom Gencrally Accepted Accountin¥ PractlLC). Company law requires thc charity tnjslccs to prepare financial statemcnts for cach year which give a true and fair view of the slate of affairs of th¢ charitable COTnpany and the ¥roup and of Ihc incoming resources and application of resources, including Ihc incorne and cxpenditure, of the Lharitable group for ihat pcriod. In prcparing the financial statemcnts, the trustces are required to.. select suitable accounting poliLics and then apply them consistently,. observe the mcthods and principles in the Charit1¢5 SORP. make judgemcnts and estimates that are rcasonable 2nd prudent. state whethcr applicabl¢ UK accounting standards have becn followed, subject to any material departures disclosed and explained in the financial statemcnts; preparc the financial statements on thc going conccrn basis unless it is inappropriat¢ lo presumc that the charity will continuc in business. The truste¢s are rcsponsible for kccping propcr accounting records that disc105C Wlth reasonable accuracy at any time th¢ financial position of the charity dnd to ¢nable them lo ensurc that thc financial statemcnts comply with the Companies Act 2006. Thcy arc also rcspon5ible for safeguarding th¢ assets of the charity and hcnce taking reas(Inable steps for the prevention and dcteclion of fraud and other irregularilics. The trustees are responsiblc for the maintenanc¢ and integrity of the corpordtc and financial infomiation included on thc charitablc company's website. LeLTrislation in the Unita Kingdom goveming the prcparation and dissemination of financial statements may diffcr from legislation in other jurisdictions. Statement as to disclosure to our Indcpendent Examiner In so far as the Trustecs arc aware at the time of approving our Trusl¢es' annual rq)ort'. thcre is no r¢levant information, being infonnalion n¢cded bythc independ¢nt examincrs in conncction with preparing thcir report, of which the charity's indq)endent cxaminers are unaware, and thc Trustees, having mad¢ enquiries of fcllow directors and the charity's indcpendcnt cxaminers that thcy ought lo havc individually taken, have each taken all steps that he/she is obligcd to take as a dir¢ctor in order lo make thcmsclves awarc of any rclevant audit infornTrlion and lo establish that the indq)endcnt examiners are aware of that inforntion. By order of the Board of Trustees lan Hill (Chair) Date '. Inde endent Examin¢rs A resolution pn)posing Hunt¢r Jones Alton be re-appointed as independent examiners of the charity will be pul to the Mcmbcrs at the Annual Gencral Meeting. roval This report has been approved by the Board of Directors and Trustces and is signcd on its behalf.. ccretary Dalcd.. zg /o?J.¥. . 10-
BELPER NORTH MILL TRUST Limited b Guarantee ort of the Ind Wtt report on the financial statcmcnts for the ycar ended 31 Deccmber2025on pages twelve to cighteen which have bccn prepared undcr the historical cost convention and thc accounting policies sct out on page fourteen. endent Examiners to the Mcrnbers of Bel er North Mill Trust Rcspective responsibilitics of trustees and examiners As describcd on pagcs one to ten thc Charity s trustcfb who are also the directors of thc Belpcr North Mill Trnsl for thc purposes of company law, are r¢sponsible for the preparation of financial statements IL] aLcordan¢e with applicable law and United Kingidom Accounting Standards. The charity's trustees conbider the company was ¢ntitlcd to cA¢mption from audit under section 477 of the Companics Act 2006 relating to small companics. -rhe m¥mbers have not required tTrLC company to obtain an audii of its accounts for thc year in question in accordance with scction 476. Our rcsponsibility is lo.. examinc the accounts (under se¢tion 43(3) (a} of thc 1993 Act)- tu follow the proiedurcs laid down in the General Directions given by thc Charity Commi5sioner5 (undcr scction 43(7)(b) of Ihe 1993 Act),. and to slate whether particular mattcrs havc come to our attention. Basis of indq)endcnt examiners, Teport Our examination was carried out in accordance with the General Directions giv¢n by the Charity Cominissioncrs. An cxarnination includcs a review of the accounting records kept by the charity and a comparison of thc accounts prescJ]ted with thos¢ records. It also includes consideration of any unusual items or disclosures in the accounts. #nd th¢ seeking of cxplanations from you as IrustC¢b conccming aDy such mattcrs. -rhe proccdures undertaken do not provide all the evidence that would be rcquired in an audit an(L cons¢quently, we do not cxpress an audit opinion on thc view given by the accounts. Indepcndent examincrs, stalcment In conncction with our cxamination, no maltcr has come to our attcntion.. which gives us rcasonable causc lo believe that, in any matcrial respcLt, the rcquiremcnts= lo kecp accounting rccords in a¢cordance with s41 of the 1993 Act. and to preparc aLcounts which accord with the accounting records and to comply with the accounting requirements of th¢ 1993 AGt havc not becn met; or to which, in our OPiDion, atlmtion should be drawn in order to cnable a proper understanding of thc accounts to bc r¢ached Hunter Joncs Alton Chart¢r¢d Accountants 36 Bridge Strcet klelpcr Derbyshir¢ DE56 IAX 11,,L_ l ali,, Datcd.. (J
BELPER NORTH MILL'fRUST Limitcd b Guarantcc Statement of Financial Activitics for the Yr Ended 31 DcL¢mber 2025 Nolcs Unrestricted Restricted funds 2025 £ funds 2025 £ All unrestri¢lcd rcstrict¢d and endowed funds 2025£ All unrestricted restricted and cndowcd funds 2024£ Income Donations and legacies 413 413 227 IKc'omefrom chariluble aLlivitie.5 Opcration of tOUTS, walks and talks 10,460 10,460 7,483 Irtcomefrom other Commercial trading operation 500 Income from inveslm¥nt aclivitie Deposit account inl¢rest 16,330 16,330 16,869 Total incomin¥ resources 29 Expcndilure Coo'ts of raisEngfynd3.' Commercial traded opcrations 862 862 294 ExpeKdift4re on huritijble d¢livilies Op¢ratiOTL of tours, walks and talks 22,905 22,905 20,941 Total expenditure Net income / (expcndilure) Movcmenl in f(mds for the year (11,083) 16,330 5,247 3,844 Net mov¢ment in funds Reconciliation of funds Totdl Funds brought fonvdrd Mov¢ment in funds 57,009 340,768 397,777 393,933 5,247 5,247 3,844 Total fundb carried forwaTd 12 39llll Thc statcment of fLnancial activities includes all gains and losses rccognised in thc yeaT. All income and expenditure derive from continuing activities. Thc nolcs on pagcs 14 to 18 fonn part of thes¢ financial statements. 12-
BELPER NORTH MILL TRUST Limitcd b Guarantee Balancc Sheet as at 31 December 2025 Notes 2025 2024 Current Assets Dcbtors Cash at bank & in hand 10 441 41U 021 410,462 457 397 860 398,317 Crcdilors -. Amounts falling due within one y¢ar Net Current Assets li 540 403 024 397 777 Net Assets Funds Unrestricted incomc funds - Gcneral Funds Rcslrictcd funds- Development Program rescrve 62,256 57,009 340 768 340 768 Total Rrserves For the yclir endin¥ 31 Dccember 2025 the cumpany was entitled to cxemption from audit under section 477 of thc Companies Act 2006 rclating to small companies. 'Fhe members havc not required thc company to obtain an aLdit of ils accounts for the year in qUCs1ion in aucordanie with s¢Ction 476 Thc directors acknowlcdgie thcii respon5ibilitics for complying with the rcquiremcnts of the Act with r¢bpect to accountinL% rccords and the preparation of d¢counts These accounts havr been prepared in accordance with the provisions applicablc lo companies subject to th¢ small Lompanics, regime The financial statemcnls on pages 12 to 18 werc approvcd by thc Trustees on lol 2026 and were signed un its bchalf by.. Director Dated-. The notes on pages 14 to 18 fomi part of thesc financial statemcnts 13
BELPER NORTH MILL TRUST Limited b Guardnlcc Nolcs to thc Financial Stalcments for the Yrar Ended 31 DeLember 2025 ACCOUNTING POLICIES The principal accounting policies adopted, judgements and kcy sourccs of estimation uncertainly in the prcparation of thc fInancial stalcmenls are as follows.. a) Basis of preparation Thc financial stalcments have becn preparcd on a goingr concern basis in accordanc¢ with Accounting at)d Reporting by Charilics.. Sialcmenl of Reconunended PractlLC appliLable to charities preparing Ihcir accounts in accordance with the Financial Reporting Standdrd appliLable in thc UK and Republic of Ircland (Charilics SORP (FRS102)), and the Companics Act 2006 and Ihc Charitics Ael 2011. Bclper North Mill Trust meets the dcfinitton of a public bencfIt entity under FKS 102. Assets and liabilities arc initially recognised at cost or transaction value unless othenvisc stated in the rclevant accounting policy notes. b) PTq)aration of thc accounts on a going concern basis The 'frustees have al the timc of. approvingy the financial statcments a reasondblc exp¢clation that the charity has adequat¢ resourccs to continuc in operational cxistencc for the forcseeublc futurc. Thus they Lontinuc lo adopt the going concern basis of accounting in prq)aring the fjnancidl statemcnts. c) Incomc recognition policies Itcms of incom¢ are recognised included in the ac¢ounts when all of thc following criteria are mct-. The charity has cntitl¢mcnt tu the funds,. Any perfonnancc conditions attached lo the ilem(s) of income have becn met or are fully within th¢ control of th¢ charilyy o Therc is sufficicnt c¢rtainty that receipt of th¢ income is considered probable- and the amount can b¢ measurcd reliably. d) Inlcrest reccivabl¢ Inleicst on funds held on deposit is included when receivable and the dmount Lan be mcasured reliably by the Charity, this is nomially upon notification of interest receivable per th¢ bank / building society. e) Fund aLcounling Unrcstrict¢d tunds are available to spend on activities that further any of Ihc purposes of Ihc charity. Restricted funds arc utricted funds of the charity which th¢ Trllstccs hav¢ decided at their disLretion to set aside to usc for a specific purposc. fj Expenditure F.xpendilurc is rccognised once tliere ib a legal or constFUCtive obligation lo make a paymcnt to a third party, it is probable that scttlemcnt will be required and the amount of Ihc obligation can be measured rcliably. Expenditure is classificd undcr the following activity hcadings.. Costs of raising funds ¢ompris¢ the costs of commercial trading. mainly any trading of goods via Archway House or al cvenls. Expcnditurc on ¢haritabl¢ activities includes thc costs of running Archway Huuse and staff costs. 14
BELPER NORTH MLI.I. TRUST Limiied b Gudranlee Notes to the Financial Statements foT the Year Endcd 31 Decembcr 2025 continued Tangible Fixed Assets Thc-frust owns a number of display items and artefacts. Itcms below a de-minimis level of £5,000 per itcm are not capitalis¢d. The Trust considers that there are no (own) display items and art¢facts valued above £5,000. Stocks Stocks are valucd at the lowcr of cost or nct realisable value after making due allowancc& for obsoletc and slow moving it¢ms. Debtors Trade and oiher debtors are recogniscd at the 5Ctilcment amount due after any trade discount offered. Prepayments are valued at the amount prepaid aftcr taking account of any trade dL5counts due. Cash at bank and in hand Cash dl bank and Uash in hand includes Lasm current account and deposit accounts l fixed terni accounts with a maturity of twelve months or less from the date of opcning. Crcditors and provisions Crcditors and provisions are rccognised whcie the charity has a prcscnt obliLFation rcsulting from a past evcnl that will probably result in the trat]sfcr of funds to a third party and the amount due to settle the obligdtion can bc measured or ¢stimated reliably. Creditors and provisions are nOMllY re¢ogniscd dl their scttlcment amount after allowing for any trade discounts due. "raxation The company is cxempt frorn coworation tax on ils charitable a¢tivities. Pensions The company has a dcfined contribution pension scheme available to staff. Contributions arc charged to the Stalcment of Financial Activities as they fall due. Legal status of the Trust 'rhe'frust is a company limited by guarantee and has no share capital. In the event of the charity bcing wound up, thc liability in respect of thc guarantee is limited to £1 pcr Member of thc Charity. Income frorn donations 2025 2024 Donations rcceived 413 227 413 227 The Tntst is grdteful for a number of small donations received Ihtoughout the Yr. 'rhe Tnt benefits grcatly from thc involvement and enthusiastic support ol. its many voluntccrs. details of which are givcn in our annual report. In accordance with accounting standaids, the economic contribution of general vulunteers is not measured in the accounts. 15
BELPER NORTH MILL TRUST Limitcd b Guarantce Notes to Ihc Financial Statements for the Year Ended 31 Deccmber 2025 continu Income from charitablc activities 2025 £ 2024 Grant) receivable Belper-fown Council- Grant towards promotion costs Belp¢r Town Council Grant towards collection relocation to Belpcr Library Amber Valley Bvrough Council- family fun day Foundation Derbyshire- Belpcr 250 celcbralions 500 846 500 800 2,146 7,640 500 6,295 Visitor Fees Other Income- Net incomc from Trusts lottery 674 688 7,483 In¢ome from other trading activilics 2025 2024 Shop sales 1,811 500 Cost of raising funds 2025 2024 Cost of sales 862 294 Expenditure un charitable activities 2025 2024 Gencral pr()tnotion Rent, service charges and buildings insurance Sal&irics & prnsions Operating insurances Accountancy Electricity Costs associated with museum closure, collections relocation and Archway House set up Othcr administrative costs office rcnts, rquipmenl. IT, ev¢nts costs, trdining, volunteer training ¢tc. 1,022 3,580 10,040 952 521 552 934 3.580 6.779 3.827 475 651 2,645 918 3,593 3,777 22,905 20,941 16
BELPER NORTH MILL TRUST Limited b Gudrantec Notes to the Financial Statemcnts tor thc Year Ended 31 December 2025 continued INCOME FOR THE YEAR 'rhe sutylus of income over expenditure is staled aftcr charging.. 2025 2024 Accountancy fees 496 475 STAbF COSTS No rcmuneration was paid to the Trustces in the ycar. 'rhe staff costs werc: 2025 2024 Sdlaries& Pcnsion contributions The averagye wcckiy number of staff employcd, calculated as full time cquivalents during the year were as follows= 2025 2024 0.40 0.40 Adrninistration No employcc received remuneration of morc than £50,000. 10 DEBTORS 2025 2024 Prepayments VAT Trade Dcbtors 396 396 61 45 441 457 CIiEDITOKS: AMOUNTS FALLING DUE WITHIN ONb YEAR 2025 2024 ALcruals VAT Incomc in advancc uf spend First Investment donation towards Belper 250 cel¢bration5 in 2026. Grdnt Incomc in advance of spend - Foundation Derbyshirc grant towards Belper 574 364 5,000 540 1.500 7,438 540 17
BELPER NORTH MILL TRUST Limited b Guarante¢ Notes to the Financial Statemcnts for Ihc Year Ended 31 Dember 2025 continucd 12 Statement of funds Onl January 2025 Income Expcnditur¢ Movement between funds On31 Decembcr 2025 Unrcslricted funds General Funds 57,009 29,014 23,767 5,247 62,256 Earmarkcd Funds Developmcnt Program reserve 340,768 340,7611 397 777 29,014 23,767 403,024 13 Tru5tces' Rcmuneration and Exp¢nses Remuneration- During thc year no Trustces werc either cmploycd or received any remuncration. Expcnses - out of pocket cxpenscs of £120 were rcimburscd to Ihc Chair, lan Hill. 14 Cowordtiou Taxation Th¢ charity is excmpt from tax on inLome and gains falling within srction 505 of the Taxes Act 1988 or sel'lion 252 of the TaKation of Chargcable Gains ALI 1992 10 the extent that these are applicd to ils charitable objects. 15 Group und¢rtakings On 31 De¢¢mber 2019, Belper North Mill 'frust bccame a 50% shared owner with The Arkwright Society Ltd of Dcnvent Vallcy Tours Lid (company number 12381104). This joint vcnture, predominalcly funded from DVMWHS Grcat Placc Scheme- D3 Expcrimenl Fund, 15 to assess thc feasibility of a sustainable tr<insport based hcritaLTC visilor'day trip" offcr across the World Heritage Site. Trdding commenccd in 2021 but was limitcd by the COVED-19 pand¢mic. The pilot projcct concluded in 2022. During 2025, there werc no Iransaelions with the company which is in the process of being wound up.