TIIE STROUDWATEI R TF.XTILE TRUST FINANCIAL STATEMEIYTS FOR THE YEAR ENDED 31 MARCH 2024 RegisterL'd Conipan}' NiinibL'r: 03792787 RegistL'fLd Cliai'ity NunibL'I': 1078398 SHINER MITCHLLL TrISHER& CO. LIMITED Accountaiits and Ilegistered Auditors Siniil) Flouse Geoi'ge Sii'cLt Nailswoi'ili Stroiid, Glos GL6 OAG
THE STROUDWATER TEXTILE TRU,ST riNANCIAL STATEMENTS FOR TH YEAR ENDEI D 31 MARCH 2024 CONTENTS Report ot.the TrustLes Report ot the Independent Exaininer liicoine ciiid Expcndilui'e ALcouiit Sialenieiit of Fiiiaiicial Activities Balaiice Slicel Notes lo Ilie Fiiiaiicial Sialemeiils
T14E STROUDWATER TEXTILE TRUST I"RUSTEES' ANNUAL REPORI. CONTIIYUII D FOR THE YEAR ENDED 31 MARCII 2U24 Tlie TriistLcs i)rcsLiiI Ilieir aiiiiiial i-eporl witli Ilic accoiiiils of Ilie COillPlL ny foi- the year ciided 31 Mai'ch ?024. Iii Ilie opci-atioii ol. Ilie clii21-ily, Tiiislees Iiave coiisidci'cd tlic Cliai'ily Coiiiiiiissioii giiid<lllCC 01) piiblic beiiefil. REFEREP4CE AND ADMITrIISTIiATIVE INFORMATION The Coiiipciny, H,Iiose L"egisiei-ed o£fiLe Is at Upi)er Mill HoLise, Mill510d Liine, Clii4 Ifoi'd. Sii-oud. Glouceslershii-e, GL6 8rY, is liiiiited by ¥uaranlee and is registei'ed iii Englic lid aiid Walcs {Rebyislei'ed Nuiiiber.. 03792787). The Li%sels Iiiid resoLlI-ces of the Coiiipaiiy al-e used exLliisively iii Ilie perfoiniance and fiirtlierance of The Sii'oudwaler Textile T1%1 ("Ilie Cliarily"}. The Cliai'ity is coiill-olled by ils TrLisI Board. iiamely the tollowing pei'sons, who wei-e also the dii-eLlors in Lonlrol of the Coiiipi)ny dliriiig the ye?( I.: Mr T Fol'd Misj Ford Mr I D M Mackiiitosli Mi's A Tayloi. M% M Bartoii M5 H K Ivebb Ms E A B(?Idiviii M5 J M Haii-i50n PlaLe (Chair) [i'esigiied 8, OLlobei- 20231 li'esigiied 21, J¢liiiiary 2024] Tlic l)cilroi) ot. Ilie Cliarilv is Tlic Ri Hoii. Tlie Lord Jaiivi'iii GCB CNCVO QSO PC. Tlic ddy 10 dcly (idniiiiisli'alioii of Ilic Cli(irily was uiidei'takeii by Ms J HaiTiSQlI Place, who &l.s0 acts as coinpany scci'ciaiy. Tlie iiiaiii agents lui- Ilie Lhai-lty Ili'e.. Bdiikei's.. Lloyds TSB 12 Rowcroft Siroud, Glouceslershire, GL5 3BD CCLA COIF Chai'ilic% Dcposil Fund Solicitors.. WSP Solicitors 3-7 Rowcroft Slroud, Gloiiceslershire, GL5 3BJ Iiidepeiideiil ENamiiier-. Sliiiicr MiicI)ell Fisher & Co. Ltd Siiiitli HL)use, CJeorge Strcei Nailswoi'ili, Glouceslersliii-c, GL6 nAG STA TEMENT OF TRUSTEES, RESPONSTBTLTTIES Tlie TrLlStees al'e requii'ed to prepare fiiiaiic111 I sl<lleniciits for eacli finaiicial year Ilial give Il true aiid fair vieiiy of Ilie slate of aff1¢ irs of tlic Cliarity S ill tl)e eiid ofeic cli financial year aiid of the Iiet iiicoiiiing aiid outgoing resources of the Cliarity for tliat period. Tlie Truslcc£ confinii Ilial suilable accouiiliiig policies l)ave been used aiid appl led coiisi51eiiily ic lid rcic sonable aiid prudLiil judgTeiiieiils aiid Lstiinales liclve bLeii liiÉlde iii Ilie prepai'atioi) of Ilie tiiiaiicial stateiiieiits for tlie year elided 31 Mai-ch 2024. Tlic Trustces al%0 coiifii.ln Ilial applicable accountiiig slaiidai'dq liave beeii followed aiid Ilial the %taiemenls Iiave beeii prepared oil a goingy cuiicern basis. Tlie Trustees al-e respoiisiblc foi- keepiiib proper aecoiiiiliiig records wl)icli disclose will) reasonable accuracy ai aiiy lime tlie fin¢l1)Cl<l1 position of Ilic Charity and whicli eniible Iliem lo eiisiire Iliai Ihe finaneial siaieinenls coiiiply with Ilie Conipaiiies Act 2006. TIICY <ire iTrlso respoiisible for S<ifegiiardiiig Il)e assets of the Chclrity and heiice for tic king reÉ1sonable Steps for Ilic prcvciition cind d¢ieciioii or ri'<lLid and oilier irreglilili'ilies.
'ri.Ii STROUDWATER TEXTII.E TIIUSI" TIIUSTII E< S'ANNUAL REPORT CONTINULD FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, COVERNANCE AND IWIANAGEME¢ NT Goi'L'rning Docunient Tlie Charity, whicli is a i'egi51ered Lliarily (Registered Nuinbei.: 1078398), Ivas iiicoiyoraled on 21 June 1999 and regi.4lered as a uliai'ily 01] 30 Noveinber 1999. TIIL Lolllpally ivas eslablislied under a Meiiioric nduiii of AssoLiiilion, vIIiLh esl<qbli.shed the objects aiid powei's ot. the LhLiri1ic ble Loillpcqlly. It is goveiiied uiider Aiticles of AssoLialioii IvliiLlI Ivei-e 2( pproved by SpeLial Resolutioii iii Noveinber 2018. lil the eveiit ot Ilie Lonipany beiiig wouiid up Ineinbei-s al'e i-equii-ed to Lonli'ibule ali ainouiit iiot exceediiig £ l. At 31 Mllrvli 2024 Ihei-e wei-e 174 (2023.. 153) Meiiibers. Recriiitnient Appointment of Trustees Tlie direcloi's of Ilic coiiii)any al'e Jlso cliai-ity liu%lees for the puiyoses of charity law. Uiider tlie I'equireineiit5 of tlie Articles ofA550ciatioii, oiie third of the Iruslecs 'e subjccl lo retireiiieiil by rotatioii each year at the Annual Genei'ul Meeliiig. Mr5 J F Foi"d 111id Mi"s A Tayloi. relii-e by I'olatioii and al'e williiig lo be re-elected. Trustees Indiiclion and Training All exislii)g triisiees are faiiiiliar willi Ilic M'iii'k i)f tlie Ili15t and tlie rcqiiii-eiiieiils of Ilie Charilics Act. Aiiy iiew Iruslees will bc iiiviled 10 ti sliorl Ii-aiiiiiig sessioii will) oiie or Inore exisliiig Ii'iistee5 to faiiiilicl1.ise Ilieniselves willi Ilie charity aiid tlie coiitcxt Kviiliin iv11icli li oi)ei-ale.8 aiid 111] covei" The obligalioiis ot'trustees The Inain doLuinenl.s whiLlI sel oiit Ilie oper¢ilioii¢il li'aiDework for the Lharity IllLludiiig the Meinoraiiduiii aiid AItlLILs ResouFLiiig aiid the current tina51cial positiuii as %et out iii tIiL latest published aLLounts --Lilui-e plaiis 1( lid objeLIIvLs "Iliey will be pi'ovidcd ivitli a copy of Ilie Cliarily Coinniissioii publication "The Esseiitial Tiuslee" Risk M<?llAgement Tlie Trustees Iillve condiicled a review of niajor risks lo wliicli tl)e cliarity is exposed. A I'isk register has been establislied aiid is updated periodically. Wliere appropriate, systeins oi. procedurcs liavc been cstdblislied 10 Initigdle Ilie risks tlie cliarity faces. Tnteriial coiitrol risks are niiiiiimised by Ilie implemenllc lioii of procedures for auihorisaiion of all Iraiisaclioiis aiid projects. Procedures arL iii place to eiisure eoinpliaiice Mtjih he<ilih aiid safely of volunieers aiid visitors to tlie trust's pi'emises. Orgxnisi< lion491 Structiire Tlic I'rustces iiieel iio less Iliaii four linies a year lo discuss slralcgic dii'cclion aiid policy of Ilic cliarily. Cui'reiitly, tlie Mdiiaoenieiil Coiiiiiiillee and the Events Siib-coniniillee oversee the detailed deliveiy of ongoing activities and special cvciits, i-especlively. CHARITABLE OBJEC'I"IVES AND ACTIVITIEI S FOR TEIE PUBLIC BENEFIT Tlic objecls of Ilie Trust are sel oiil iii its Articles of ASSOCiiltioii registcrcd on 23 Novciiibcr 2018-. Foi. Ilie public beiiefit lo f05tCl- Iiiid proinote study and researcli into Ilie maiiutacturing aiid produclioii and use of textiles Éiiid of ILxlile ai)d associated Inacliiiiery past Ic lid preseiit amoiiu Ilie iiiliabilants of Great Britaiii aiid iii particular ainoiiiJ the I"esideiiis of Sii-oiid Disiricl ai)d tlie sui'rouiidiiig locality, ii) particular bul not exclusively by providiiig racililies for tlic educatioii of Ilie piiblic. We pursue Iliis iiii$81011 by ruiiiiiiig two Inuseums, Duiikirk M ill Museum aiid Gibg Mill Weaviii&y Slied, and by orbiai)isiiig? visits to oilici- Ini115, walks arouiid our local indiistrial lierilauye. form<il worksliops aiid a variety of iiifornial events inlroducii)gi Ilie public lo Siroiid's lexlile lierilage, past and pi'eseiil. We also i)ubli511 Warp & Ivefi, our aniiual iiieinbers. ii)ilgYlI 7jiic. aiid books on Ilie textile iiidLlStiy in Ilie Stroiid (irea. Oiii. Gazclle is an einail newsleller available lo anyoiie ii'illi Jii iiiterest iii textiles, and wc Iilso IikivL li iiiloriiialivc wcbsilc.
THE STROUDWA'I'ER TE.XI'ILE TRUST TRUSTEF.S' ANNUAL REPORT CON'fINUEI D FOR THE YEAR ENDED 31 MARCH 2024 ALlivilies are plaiiiied ai'ound a core prouyrainine, bul are also sliaped by Ilie availabslily of volunleei's and opportunities Io Lollaborale iviili oilier organisiilions lo extend our reacli and iillpacl. ACTIVITIES DUIUNG TIIE YEAR We LOI)IiiiiiLd lo opeii Gigg Mill Weaving Slied Ihi-ougyhoul 11)e year dnd Dunkirk Mill Museuiii beliveLn April and Octobei.. By kiiid pLnnission ot- Ihe Mottis tamily, we were able to open St Mary's Mill in Chalford for Mill Hei'it¢ige Weekeiids and Flei-ilAge Opeii Days. and ¥ve also provided toiirs ol. Ebley Mill as part of the Canal Spring Festival. In the SilllllllLr. a gi'oup of Ineiiibers enjoyed a fascinating visit to Coldharbour Mill in Devon. As ivell as meinbei-s and the public, we welLoined visits froin school and other groups, and we were particularly pleased 10 be able to arrange a visit tor a group of peoi)le willi iinpaired visioii. Ive also gave talks at several 5Lhools, cliibs and societies. A story-telliiiby shoiv for cl)ildren al Ilie Sii-oud aiid Sioiieliouse Goodwill Eveiiings, 'Tlie Red Bultoiis, was enjoyed by every011e pi'eseiil. Iii Auliiniii 2023, Ive I'an a Textile Skills Weekeiid for youiig people uii(ler the professional giiidai)ee of luloi-s Katliryii Clarke ai)d Liz Lippiatt. Iii collaboralioii willi oilier bodies, we participated iii the Field lo Fibre event. Ali iiiipoi'laiil parl ol. our woi'k is iiiforinal ouli'cach. Tliis enable5 US to recruit iiew Imeiiibers and voluiiteers, aiid also to draiv atleiilioii to Stroud's Icxlilc Iicritage. Sadly, Ilie Sii'oud Couiiliy Slioiv was called off due lo bad weailier, but ve liad stalls <71 Ilie Sii-OLid Faiincrs Mai'kel. Nailswoi'ili Toivii Mceliiib, Ci-afts Alivc, Ilie Viiilage aiid Couiiliry F.xti-ai'.Igaii/i, Cii-eiiLeslLI- Wool WLek. Il)e Colsivold Wool Weekeiid, Ilie Caiicql Spi-11lbV Fcslival aiid Ihc Voluiileer Fd)11-e: <111d cll'e bll'alelul lo tlie org7aiiisers lor Ilieii-.%upi)oi'l iii kiiid. Iii iiioi'e stnictLlI'cd oiilrL<iclI, we pi-ovided a display for t11e Miiseiiin ii) the Pai'k's Coroncqlioii Exliibilioii, aiid Iii October pill oil a Iwo-wcekeiid Aiitiimii Fiesta in and aroiiiid Siroiid willi Wic Iks ai)d talks, drop-in cralt sessions and roriii£il iiioi'ksliops. <iiid a childreii's qiiiz and poelry reading boili lield al the Mliseiini in Ilie Park. Many ol- Ihe events were free, and ive are veiy gi'alelul lo Siroiid Brewery for hosling 'In a Spin, a very popiilar opporlLinily for people lo IvalLli all Iciiids of textile aLtivilies aiid also have a go Ilieinselves. We have Iinproved the visitor experience al oiir oivn Inuseuins, particularly al Gigg Mill Weaving Shed. Mumford Mills, the oivners. iiivested iiioiiey in the buildingj, l( lid oiir volunteers invested time in improving its condition and ai)pe<1f<liiue. inLludiiig P<llllting tlie floor Stroud SLcll'letl We wei'e (llso (Ible to fraiiie and di%play a docuiiienl showing the pdy %cdle ill Winlel"boihiliil Mill iii ihe 1930s. We ellbY<i&ed Tlie Luiidoii C lotli Cuinpciny lu reslui'e the DL)bLfL)ss poivei. louiii and (o i11siall a .superLOP ivindei. and. witli the suppoi't uf SoLiilI West Miiseuins Development, we have iiiade d video of our volunieei-. Peter Frost deinoiislra(ingTr tlie looin and l<llkiii¥ dboul his careei. al Longford's Mill. Woi'k 1.8 in progyrcss on d iiianual foi. volunlcers: tlie tir.st drall was pi-oduccd iii Fcbruary aiid is beiiig worked IlirougJl] for revision in Ilie liglit of experience. Ai Duiikirk Mill Mu.%euiM. we <ll'e gi'aiofiil 10 Cliloe Eva115 wlio, as part of her Duke of Ediiibui'gli Award, volunteered lier liine persiiadiiig visitors to fill iii feedback toniis aiid collated Ilie results. Tliese will be Iielpful iii developing the visitor expei'ieiice Iliere. Ap£irl froiii oui. oivn Inuseuins aiid eveiils, Ive very n)Iicli appreciate opporlunilies lo proinofe textile Iieritage past aiid preseiit Vlcl Otliei. oi-gaiii.%alioii.%, cvcii if our priiicipal coiitribulioii is liiniled to publicity iii tlie Gazette. Some pai'tiiei-sliips liave bccii iiiciitioiicd above, aiid ive Iiave also worked closely as a pai'liiei. oi'gaiiisalioii of Cotswold Ci£ Iials Coniicctcd Iiiid Nviili Weveii in Siroud. ACTIVITIES PLANN'ED FOR THE FUTURE As ivcll as L1 fiill pi-ograiniiic of cvcii15, Ivc arc rcdcvcloping oiir webslte, iiicliidiiig a photography project dociiin¢iiliiig all Ilie local iiiills, iiiilially biiildiiig oli Ilie collection of pliolograplis kiiidly donalcd by Alan Posllcilii'aIle. Wc ivill bc ivorkiiigi K¥iih N<iilsivorili Toivi) Coiincil lo iiiii)rovc SigJllabTe lo Diiiikirk Mill c1nd Gig'gF Mill, aiid lo iipdale the IILrilage inforiiialioii boards aroiiiid ihe town. We Iilive laken oli anoilier Linil al Gig'gF Mill so Ilidl we Ldli display boine ol. Ihe AilifaLls we LUiTeiiily have in slor3g7e. Tlie Triistees dre bYI-aiefLII lo Ann Bldcklock loi providing Ihein ivith a home iii thL Ineantime.
TI4E STROUDWATER TEXTILE TRUST TRUSTEES, ANNUAL REPORT CONTINUED FOII THP; YEAR ENDED 31 MARC112024 We i'eillain dlei-l foi- a possible pennaneiil lioine lor our LolleLlion and (Irchives, bul will exercise rautioii and due diligence before Loilln]itting the Trust and its funds to a building and the associated costs. Our activities depend substantially on our volunteers orgaiii5ing aiid deliveringJ them. The Trustees are deeply grateful to all our volunteers. If any Meinber woiild like lo help the Ti'usl by becoiniiigT a voluiiteer, they cali LontaLI our Vulunleei Co-ordinator, Jason Parkei.. whose eniail address is voluiiteeriiig'13stroudtextiletrust.org.uk, lo diseuss their iiitei'ests aiid the oppoi-lunities a.a1]uble. FINATr4CIAI. REVIENV Iiicoiiie froim oui. cliaritable IiLlivilies was £14.940 for the vear {2023'. £13,418). lil addition, the Trust received L47,063 iii tlie 5ecoiid disti-ibLltioii fi.oin the estate of oui loiig-lei.iii Patron, Diliiie M<ll-garel Weston. Our inconie was fuitliei. supplcniL'iIILd by ii)lei'esl of £14,112 {2023'. £4161, received froiii pliqciiig Ilie bequest oli lerni deposit. Jiileresl rdtcs Lire likely lo fall over Ilie coniii)g years, bul iii the IneL21)liine, we liave been able lo iiivest over £ l 0,000 in sigiiificaiil iinproveiiieiils to our visitor offeriiig al Ilie Gigg Mill Weaving Slied. Although ihe Trustees expect furtlier iiicoii)e froiii Danie Margaret Westoii's bequest. the value of tlie reinainiiig assets iii the estate i.s too ui)cerlaiii at Illiq stage i() be qu211tificd wilh reasoiiable accui'aey. We <ire particularly -ateful to Ilie Dyers Coinpaiiy Cliai'ity, Soutli Wesl Museums Developmeiit aiid the Ursula Guiiiicry Trust for tlicii- generous siippoi'l diiriiig tlie year. By coi)veiitioii. cliarities do iiol atteiiipt to iiicliide a fiiiaiicial valiiatioii of Ilieir voliinteers iii tlieir £lccoiiiils - bul lo Ilie TrLisI. OLir voliiiileers c1re vilal, aiid their valiie 15 Liicalclilable. Once agaiii, the Truslees would like lo I'ecoi'd oiir 7f£ltiliide for all ilieir liÉll'd ivork. RESERVEI S Polici, The Trust aiiiis to i-di5e siiffiLieiil Lliai-itLiblL iIILoiiie to Lover its roiitine aLtivities over tiine. In order to en5ur¢ that the iiiiiseiiiiis ¢iiid LolleLtiOll l< re illiiintLiiiied toi. tlie piibliL beiietit, it 1¢ Illls to keep thi'ee ye<irs of I'outiiie expeiiditure iii reserve foi. uiiexpeLted iiitei'i'uptioiis to noriiial operations, aiid tor uiiexpected Inajor repair aiid restoration Losts. Tlie Ti'iistees, iiiteiitioil 15 to use the capital ot- the Daille Margaret Westoii beqiiest for the developmeiit of the Trust's vork. tlie furtliei-2£ nce of it5 cliaritciblc objects, and tlie iinprovemeiit of its Lissets. Iiaving iii miiid tlie loiig-tei'm need foi- SUItble preiiiiscs, Ilic siisl£lllliqbilily of any iiiajur purcliiise ur project, aiid Ilie avdil<ibility of otlici- fuiidiiig. Tlie iiicoiiie froiii tlie legacy ivill bc reiiiveslcd wliere possible, but shall be available for I'outiiie activities wlieii Iie¢essaiy. Current Position Tlie TrLI.%l cui"Iciiily Iiolds £430,218 ii) Uiii-eslricled Fuiids (2023.. £374,669). Tliis obviously covers thi'ee years, routiiie activities liicllly liines ovcr but, Iv11ile Ilie We5101i eslrile reinai115 uiii'e501ved aiid willi a p055ibiSity of a iiialerial iiici'ease iii Ilie lolal aiiiouiit receivable, il Ivoiild be uiiivise for Ilie Trustees to niake sigiiificaiil coinniilnieiils to preiiiises or, though less likely, to eiiiployed staff. Despite all tlie oilier uiicertaiiities to wliicli any orgaiiisalion is subject, Ilie Trustees ivil I be iii a iiiucli better posilioii lo iiiake decisioiis wlicii tlie distribution is complete. The developiiieiil of ali iiivesliiieiit policy will fonn pai-l of Ilie pi'ocess. LONG-TER1 RISKS TO THE CHAIIII'Y AND FUTURE PLANNING Eveii before tlic tl"illl.%Ioiiiiiilivc cffccl of Daiiic Murgaret's beqiie5t, tlie fiiiaiicial I'i.sk5 10 11)e cliai'ity were relatively low. over liiiie, wc ivci-c ¥ciicrally able lo covei. I"outiiic uctivitics witli I'outiiie incoiiie aiid obtaiii foiward fundiiig foi. special projects. 14oiiievei., we dcpciid oli voluiileei"s lo dclivei. Ilie greatcr Pl£ It of our progr¢ininie, aiid failure to reciuil, traiii aiid retaiii voliiiiteei's ivoiild be a %ignificaiit Ilireal lo oiii- Inissioii. We are a150 coiiscious that, iii the long teriii, our lack of suitable aiid affoi'dable preiiiises poses a I'isk tlial our ai'cliive aiid collection iiiay delcrioralc, aiid niakcs il niorc difficult lo sliarc Il)eiii for Ilie public beiiefil, wliile also iiiliibiliiig oui. ability lo promote coiilcnipoi-ary Icxiiles. Wl)cii oppornlllitie% ,ii'isc lo addi-ess Iliis, Ilie Wesloii bequest allows us lo be Inoi'e aiiibilioLlS aiid flcxible in oui- appi'oacli, bui Ilic TrLlStees will be cJrLful i)ol to over-coininil Ilie Ti'usl's resources for Ilie loiig tei'm. Oiir opcralioi)al plaiis in Ilie iiear lei'in are ouiliiied 01) page 3. The TruslcLS have also bcgu11 to consider Il)c strategic queslioii.s we Iiiust <iddrc%s iii 01-dLr lo dLvclop a rollii)g fivc-yLar pliili for tlie Tru%l'8 TillS.4ion, cliai-iliible aclivilies, ioveriiaiiLe, aiid i-esoiii"ces. We ivill also be locusing 011 iiilegi-aliii&7 ouI- work iiilD coiiimiiiiilies locally and the wider Icxlilcs coiiiiiiuiiily.
TFIE STROUDWATER TEXTILE TRUST TRUSTEES, ANNUAL REPORT CONT1Tr4UED FOR THE YEAR ENDED 31 MARCH 2U24 RESPONSIBILITIES OF THE DIRECTORS Tli¢ Trustees. who are direLIoi's for the purpose of Loinpany law and trustees foi. Ilie i)UlP05e5 of Lliarily law, wlio served dui-ing the year <2nd up to the dale of this repon are se( oui on page l. Iii aLLordaiiLe ivith Loinpaiiy laiv, as the company's dii'eclors. we Lertify Iliat.. So far as ive dre dlvdl'e, tlie company is exeinpl froin audit,. Ilnd So far as we al'e aware, thri'e is no relevaiil infomialion of wliich the coinpany's independent exaiT]iners are un- aiv<lre; <ind As the dii-eLtoi's of the company we have taken all the steps that we ougyht to have taken in order to make ourselves divare of any i-elevant infornialion and lo establish that the charity's independent exaniiiiers are aware of tli?L t int-oriniL Iioii. Sigiigd on belial board Dale Cliair
INDLPENDF.NT EXAMINERS REPORT TO I"HE MEMBERS ON -I"III,- UNAUDII'II D FINANClIlL SI'AI"EMLTrITS or THE STROUDWATER TE.NTILTr. TRUST FOR THE YEAR ENDED 31 MARCH 2024 RL'si)L'LtIl'L' fLSI)oiisibilitiC5 of the tru5tLLS and Lxaniiiier Tl)L Lliai-ity's IrLislees (Ivlio Lire Ll150 tlie direLtoi's ot. Ilie Loillpdny for the purposes ot company law) are responsible for Ihe pi-epardlioii ol. Ilie ic Luounts. -rhe Lh¢irity tl'l15tees consider tlial <lll audit is not i-equirLd for Iliis year undei- seLIioii 144{?) of Ilie Cli¢irities Aut 2011 {tlie 201 I CIIiL rities Act). iiiid IliiL t 1£ 11 iiidcpe11deiil exainiiialioii is needed. l aiii qiliilitied to Linderldke Ilie eAÉiiiiiiialion by being a ciualilied iiieinber ot- tlie Ch1£ rtei-ed Association of Cei-lifsed ALLouiitdllts. H1¢ viiig satisfied Inyself Ili£lt Ilie Lli<ll'lty is Iiol SLibjecl to aLidil undei- Colllpcllly law, or otherwise, aiid is eligible for iiidepeiideiil e.X2L Illilliilioii, it is iny respoiisibility lo.. exdmiiie Il)e ¢lLLOUllts uiider section 145 Ol- Ilie 201 I Chai-ilies ALI. lo folloiv Ilie pi'ocedures laid down in the geiieral directi0115 given by the ChLirily Con1n)Ission undei. section 14i151{b) ol. IliL 201 I Cli1¢ l'ilies Act, aiid to slale whetlier parliculai. Inaltei's have coiiie to Iny attention. ilsls ol. indei)endent examiner's stqteineiit My eALl111illl£ tIOll IVil.% Liirried out in aLCOI'daiiLe with geiieral direLlioiis gii'eii by the Charity Coniiiiissioii. Ali iiidepeiideiit eiaiiiiiicilion iiiclLides a revieiv ot'tlie accoiiiitiiig recoi'ds kept by the Cliarity and a coiiiparison of tlie accoiiiit5 pi'eseiited iviih 1110se rccoi-ds. It also iiicludes coiisidei'alioii of any iiniisiial iteiiis oi. disclosiii'es in tl)e accoLiiIIs, IL lid sccking explanatioiis from the trlislees coiicerning aiiy siicli niatlers. 'riie i)i-ocedui'es iiiidci-l<lkLlI do nol provide £111 Ilie evideiice Ih&i1 ivould be reqiiii-ed in an aiidil, aiid consequeiiily no 01)iiiioii uivcii 10 ivlieiliei- (lie 11 ccoiiiils prese1)1 &1 '11-Lie and laii. view diid Ilie I'epoi'l is liiiiiled lo Iliose iiiallei-s sel out iii the iiexl slalenieiil. IndL'pendenl examinei s statement Iii Lniiiicolii)ii iiyiili 11151 e.Xcl1111111211011, iio iiiaiier lias coiiie lo niy alteiilion.. IvIIiLli gii.'es nie i'easonable LaLise to believe Ilial iii aiiy inalei-ial i'espect the requireiiieiils.. lo keep accou111iiiLy i'ecoi'ds li) accoi'dance willi section 386 of the Coinpanies Act 2006 and tu iji-epare accoiiiit% iviili accord iviili Ilie IlCCUlllltiiig i'ecoi-d5, coinply with the accouiiliiig requireinents of Section 396 of Ilie Coinpaiiies Act 2006 aiid with the nieihod5 aiid pi'iiiciples of Ilie Slateiiieiil of Recoiiiiiieiided Practice.. Accouiitiiig aiid Repoiting by Cliarities liave iiot beeii iiiel 01- lo ii,Iiicli, in iiiy opiniun, altciilioi) sliould be drawii iii ol-der to eiiable a proper under5t<11iding of the iICCOLlI)t5 to bc i"C<lLlicd. lJoQ tJS 11107 Izoz SHINEII MII'CJ-IELL FJSI.IER & C.0. LTD Iiidepeiideiit ExillllillCI- Dale Siniili House, Cjeoi'oe Sii-cct, Nailswortli, Glouceslci'bliirc, GL6 OAG
THE STROUDWATER TEXTILE TRUST INCOME AND E,YPNDll1"UllIE ACCOUNT OR I"IIE YEAR ENDED 31 MARCII 2024 NutL' 21124 2U23 INCOiVIE 62,003 349.857 XPEN'DITURI Dii'eLt Charitable Ixpeiiditiire Fiiiidiaising aiid PLiblicity Mdnd&JeinLnl aiid Adiiiiiiisti'ation 17,649 1.974 943 8,223 804 807 NET INCOMILNG (OUTGOING) RESOURCES 41,437 340,023 Iileresl recei.ble 416 EXCESS IDIFICIT) OF INCOME OVER EXPLNDITURE BEFORE TA.XATION 55,549 340,439 IiEI'AINED SUIIPI.US (DEFICIT) FOR TIIE PERJOD AFTER TAXATION 340 439
THE STROUDWATEII TEXTII,E TRUST STATEMETriT OF FINANCIAL ticI'ivI"fiF.S FOR THE YEAR ENDF,D 31 MARCII 2024 2024 Desigiialed Restricted Uni'esli-icled Total Fiinds Fiinds Fiinds Funds 2023 Total Fiinds INCOME SiiLIsLI'iPtioiis Gr¢llltS (Ind Donati0115 Beqiiest Ii)terest Received 8,316 3,954 47,063 8,990 4,428 336,439 416 2,670 6,624 "I'otal Ineonie 350 273 EXPENDITURE Dii'L'Lt Lliariiable expeiidilui'e Flind raisiiig <iiid piibliLilv ManL1genienl ciiid c1diiiiiii511.¢ltiuii 2,C)70 14,979 1.974 943 17,649 1.974 943 8,223 804 807 Total cxpendiliire Nel incoming resoiii-ces bet.ore Ii-aiisters aiid i-evaliialions 55,549 55.549 340,439 'l-I'ciii%fci's betivceii fiiiids Ncl InOVLnicni iii fuiids 74,()64 55,549 340,439 Toial lunds brouglit lorKvai'd 355 554 374 C)69 Total funds C¢ll'ried loiivai"d 430 218 430 218 374 669
THF. S-I"ROUDWATER I'LI XTILE TRUST BALANCE.SHF,FT AS AT 31 MARCH 2024 Nole 2024 2023 FIXLD ASSbl'S -rangible assets CUIIRENT ASSETS Accnied liicoinc Cdsli at biiiik and in hand 3,15% 429 301 432,459 324 374 825 375,149 CREDITORS: Ainoiints fL111ing due vitIIiii OllL YL" 480 I 'ET CURRENT ASSETS 430218 374 669 TOTtlLASSETS LESS CURRENT LIABILITIES 430 218 374 669 RESERIIES DL'%igllcilL"d FLiiicIs Rcstl"iLtLd FL)Iid% Uiii-e%li-ILled Fuii(Is 19,115 4Ja 21R 355 554 GENEIL4L FUND 430 218 374 669 Tlie coinpany is entitled to exeiiiptioii fi-oiii audit uiider Seclioii 477 of the Conipaiiie5 Act 2006 for the year endiiig 31 Marcli 2024. Tlic iiienibcrs liavc iiol I'equii'ed tlie coiiipany lo obtclili an audit of it5 fiiiaiicial statenieiits for tlie year elided 31 Mai'cli 2023 iii aceorddiice with scclioii 476 of Ihc Coiiipaiiics Act 2006. Tlic directors ackiioMilcdgc theii. i-espoiisibilities for.. (1£ } eiisuriiig? Ilial Ihc COliiP<llly kecps accoiiiitiiig records which coniply with Scclioi) 38() aiid 387 of Ilie Coinpaiiies Act 2006 and (al i?rci)arin&y fiiiclllLial slalcmci)ls wl)icli g?ivc a IINC aiid fair vicw of Ilic sltilc of affairs of Ilic cniiipaiiy aq al Ihc ciid of eaLli fiiiaiicial ycai- aiid of ilq pi'ofil aiid losq for eacl) fii)<iiiLial year in accordaiicc ivitli Ilie rLqiiircinciil.s of seLlioii .)94 aiid i95 of Ilic CL)Ilil)aiiics ALI 2nnc) rclaliil&T 10 fii)anLial slalciiiciits, so fai. as applicablc lo Ilie COIIIP1r ny. The fiiiaiieial sliileiiieiils li&qve beeii prepareLI iii accoi'Llaiicc M'illi Ilie provisioiis applicable to companies subject to the Siii<ill CoiiipLi iiies reiiiine. -lie tlll£lllQLa-Tr ¥t-ateiiieiiffg o a&JLs 7 10 9 werc appi.oved by the board of dircclors aiid signed on its bchalf by-. revor fol'd. CliJir Dale
Ic THE STROUDWATER TE,x"fiLE I'IIUST NOTES TO THE FIP*'ANCIAL STATEMENTS roR THI YEAR ENDED 31 MARCFI 2024 11 ACCOUIYTING POLICIES The priiiLipÉil aLLounliiig poliLies are suillin£ifised beloiv. Tlie ¢lLcounling' poliLies have been applied Lonsislenily tlii'oubjliout tlic year. Bqsis of aCLQUIltiiig Tlie tiiiaiicial 5t<lteineiits have beeii prepai-ed iii acLorddllLe with FiiiaiiLial Repoitiiig Standard 102 "The Financial Repoi1ing StLiiidai-d applicable lo the UK aiid Rcpublie of irelaiid" incliidiiig tlie pi-ovisiuii of Seclioii l A "Sindll eiitilies the Conipaiiies Act 2006 aiid tlic StatLnieii1 of Recoiiiiiieii(led Pi'aclicc: ALci)Liiiling aiid Reporting by Chai-ities issued in JL2iiuary 2019. The fiiiancial slaleiiieiils liavc bccii preparcd under Il)L Iiisloi'ical cosl coiii.'eiilioii. The comi)aiiy has lakeii adi'aiilage ot- P1( l-<igi'apli 3(3} of seclioii 4 of Ilie Conipanie.4 Ael 2006 10 use 115 own ai'ric iige111eiil of lieadiiigs aiid sub-lieadiiig5 diie lo the special iiature of its activitie5. Fuiid Accouiiting Restricted luii(Js (ire 11105e for which the donor has specifically resti'icted the puiyoses foi. which Iliey can be Lised. Tlie <linouiits iii the luiids al the balaiiLe sheet date repi'eseiits tlie nioiiies Still LIViiilable for tuture expeiidiliii'e (Iii I11()5e Iiui-i)11ses. Di'5igii&iled fuiid5 liave beeii alloLaled lo speLific projects by the trustees or direLlors, often with the k110Ivle(Igye ot doiioi's, -riley iliLliide Graiits Ll<iiined gaiiisl agi-eed ileiiis of expeiiditui'e. Geiieral Iiiiid5 (li'e exi)eiidi1ble clt tlie disLI'elioii ut Ilie liiistees or direLlors iii Ilie furtheraiiLe of the objeLt% of Ilje Lliariiy. IIiLoniiiig resoiirLes Al l iiicoiiiiiig I'csources are iiicliided in Ilie 5tdtciiiciil of fiiiancial activitie5 ivlieii tlie cliai'ity is cntiilcd lo thc iiicoiiie aiiil Ilie aiiioiiiil cali be quaiilificd willi reasoiiable accui'acy. The follo1]11g specitic policies are applied to pai'liculai. categoi'ies of iiicoiiic. All iiicoine is alloLaled lo Ilie geiiei-al tuiid uiiless oilierwise resti-iLted by tlie donor or speLifically desi£naled by Ilie (lii'cclors. Legicicie%. duiialions 7¢ lid oiliei. voluiilary iiicoine are ci-ediled to iiicuiiie in accoi'daiice witli tlie accrudls coi)cepi. RL5oiifLes exp<?iided Expeiiditiii'e is i'ecogiiised 011 an accrual basis as a liabilily is incurred. Tangible fixed a55ets Depi'ecialioii 15 pi'ovided at 25'/o Strdighi liiie lo iiirite off each purchascd a.8%el over 11.4 C%tiniated uscfiil lifc. Fixed Assets <iddition.4 cali lllso result froin items of eqiiipnieiit uscd for fiiiidcd projccl.% wliicl) are rclaiiied afier Ilie clo4e of tl)osL pi"ojecis', rliese al'e iii)l added lo Ilie Balaiicc Sliccl. Heritage assets arc noi capitalised, as rhe cost of valualioii would bc iiicoiiiiiicnsui'ate willi Ilie bei)efil lo users of Ilie iccniiiits aiid the Cliai-il5'. Tlic tl'l15t is a I"egislei'ed cliai'ity and is not liablc foi. Miiy iiicoi)ie, capital LTLiins or corporation taxes on ils current activities. 21 INCOME Iiieoiiie is i-eceived froiii Inciiibcrsliip sub5CllI)tions, other gran1% ai)d donations, Inuseuni entraiice fees, sales of book aiid oihL'i" resources, tecs lor 1<11ks ivoi-ksliops aiid oilier events.
THE STROUDWAI"ER TEXTILE TRUST Tr40TES I'O TIIE I-.INANClIlL S'IATF.MF.NTS CON'IINUED FOR TFIE YEklR ENDED 31 MARCH 2024 31 TANGIBLE FED 2ISSETS COST At l Api'il 2023 Additioiis At 31 Mdl-Lh ?024 1,942 DEPRECIATION- At l April ?0?3 Cliargye loi. yeai. Ai 31 March 20?4 NET BOOK VALUE 41 CRF.DITORS 2024 2023 Aniouiits fallilig due iyitliin one yeiqr: AiLrucils (iiid delLri'ed inLoine 480 51 ANALYSIS OTr TrUNDS 2024 T(ptal Funds 2023 Tolal Fuiids Designiited Restricted Unrestricted Fuiids "uIid Funds P*loi'eniL'iit iii fiiiids At l Apiil 2023 Nel incoiiiiiigloutgoiiig i-esourLes 355,554 374,669 34.230 340 439 Ai 31 Mai-cli 2024 430 218 430 218 374 669 (b) Represent<i1ion of fund balalices Casli and b(1nk balances Ciirreiit asset. Cliri'eiil li(Ibililies 429.301 3,158 429,301 3.158 374,825 324 480 Ai 31 Mdi-cli 2024 430 218 430 218 374 669