The Stroudwater Textile Trust
Registered Company 03792787
Registered Charity 1078398
Financial Statements for the Year Ended 31 March 2025
Registeied Office
Upper Mill House, Millswood Lane, Chalford, Stroud, Gloucestershire GL6 8FY

The Stroudwater Textile Trust
Financial Statements for the Year Ended 31 March 2025
Contents
Page
Reference and Administrative Details
Report of the Trustees
Report of the Independent Examiner
Income and Expenditure Account
Statement of Financial Activities
10
11
Balance Sheet
12-14
Notes to the Financial Statements

The Stroudwater Textile Trust
Financial Statements for the Year Ended 31 March 2025
Reference and Adminxstrative Details
Patron
The Rt Hon. The Lord Janvrin GCB GCVO QSO PC
The Trust is a registered charity (No. 1078398), and a company limited by guarantee (No.
03792787). The Trustees of the charity are the Dii'ectors of the company. The Trustees during
the year and up to the date of this report were as follows:
Mr T T Ford (Chair)
Mrs J F Ford
Mr I D M Mackintosh
Mrs A Taylor
Ms M Barton
Ms J M Harrison Place (Treasurer and Company Secretary)
Mr R E S Cotterill (appointed 24 July 2025)
The principal advisers to the charity are:
Bankers
Lloyds Bank, 12 Rowcroft, Stroud GL5 3BD
CCLA COIF Charities Deposit Fund
Solicitors
WSP Solicitors, 3-7 Rowcioft, Stroud GL5 3BJ
Independent Examiner
Michael Howell, 2 Malthouse Close, Broad Blunsdon SN26
7BG

The Stroudwater Textile Trust
Report of the Trustees for the Year Ended 31 March 2025
The Trustees are pleased to present their annual report together with the accounts for the
Trust for the year ended 31 March 2025.
Charitable Obj ects and Activities
The objects of the Trust are set out in its Articles of Association registered on 23 November
2018:
'For the public benefit to foster and promote study and research into the manufacturing and
production and use of textiles and of textile and associated machinery past and present among
the inhabitants of Great Britain and in particular among the residents of Stroud District and
the surrounding locality, in particular but not exclusively by providing facilities for the
education of the public.,
We pursue this mission by running two museums, Dunlcirk Mill Museum and Gigg Mill
Weaving Shed, and by organising visits to other mills, walks around our local industrial
heritage, fornial workshops and a variety of infornial events introducing the public to
Stroud's textile heritage, past and present. We also publish Warp & Weft, our annual
members, magazine, and books on the textiIe industry in the Stroud area. Our Gazette is an
email newsletter available to anyone with an interest in textiles, and we also have an
inforniative website.
Activities are planned around a core programme, but are also shaped by the availability of
volunteers and opportunities to collaborate with other organisations to extend our reach and
impact.
Activities during the year
We continued to open Gigg Mill Weaving Shed throughout the year and Dunkirk Mill
Museum between April and October. By kind perniission of the Morris family, we provided
tours of St Mary's Mill in Chalford for Mill Heritage Weekends and Heritage Open Days.
This year, members enjoyed two outings: to Kiddenninster Carpet Museum in August and to
Trowbridge Museum in March.
As well as members and the public, we welcomed school and other group visits, including
students from the Star College, and gave talks at several schools, clubs and societies.
During the autumn half-tern] break, we ran a Textile Skills Weekend for young people under
the professional guidance of tutors Katlllyn Clai'ke and Rachele Dickie, who helped the
participants design and make a gamient from scratch, with very pleasing results.
Sarah Campbell, a well-known and highly-regarded textile designer, ran a fabric-painting
workshop, and also gave a fascinating - and very popular- talk before our AGM.

The Stroudwater Textile Trust
Report of the Trustees for the Year Ended 31 March 2025 (continued)
Our Winter Woolday sessions gave people a chance to learn practical skills or just knit and
sew in company. Other workshops covered spinning with alpaca wool (including meeting the
alpacas), and plant dyes, with the Nelson Trust and the Trefoil Guild. The latter was part of a
South West Museums funded project to restore an early nineteenth century hunting coat,
owned by the Portman family and made from Stroud Scarlet. Both the Stroud cloth and the
intricate workmanship in the coat are an embodiment of textile heritage past and present, and
we hope it will prove a great talking point when we are able to display it at our events.
An important part of our work is informal outreach. This enables us to recruit new members
and volunteers, and also to draw attention to Stroud's textile heritage. Volunteers mounted
stalls at the Stroud Farniers, Market, Nailsworth Town Meeting, the Stroud Show, the SVTEC
Steam Extravaganza and the Cotswold Canals Connected Volunteer Fayre. Stroud Brewery
very kindly hosted 'In a Spin,, a popular opportunity for people to watch all kinds of textile
activities and also have a go themselves. A particular highlight was Vyshyvanka Day, a
joyous celebration of Ukraine's traditional brightly embroidered shirts, in collaboration with
Cotswold Canals Connected and Stroud Stands With Ukraine. The parade was complemented
by open workshops and an exhibition, and since the year end we have mounted a Vyshyvanka
exhibition in collaboration with the Gloucestershire Heritage Hub. We are enomiously
grate￿1 to all our hosts and partners for helping us to take textile heritage directly to the
public, rather than expecting them to come to us.
We have continued to improve the visitor experience at our own museums. At Gigg Mill
Weaving Shed, we have installed a mirror to give people a better view of the Dobcross power
loom at work, and upgraded the electrics so that we can now show a video of the loom. We
are very grateful to Daniel Harris of The London Cloth Company for his continuing support
and guidance. At Dunkirk Mill, we have restored the clocking-in mechanism, a popular
feature with children. We are developing our volunteer training - co-ordinated by Myn
Cotterill - to enlarge the pool of volunteers who are confident demonstrating our textile
machines. We have also been workiiig with Nailsworth Town Council to improve signage and
to integrate our mills into the town's heritage offering. Apart from our own museums and
events, we very much appreciate opportunities to promote textile heritage past and present via
other organisations, even if our principal contribution is limited to publicity in the Gazette.
Last but not least, we celebrated the Trust's twenty-fEfth birthday with a garden paty for our
members and friends on the site of the fonner mill pond at Upper Mill House. Food, fizz and
congenial company were enjoyed by all.
Future Plans
As well as a full programme of events, workshops and mill openings, we have since the year
end completed the redevelopment of our website, and are starting work on a long tern]
photography project documenting all the local mills, initially building on the collection of
photographs kindly donated by the late Alan Postlethwaite.

The Stroudwater Textile Trust
Report of the Trustees for the Year Ended 31 March 2025 (coiitinued)
We are also experimenting with ways to offer a more social experience to our volunteers,
recognising that this is often an important way to attract people into volunteering.
We will continue to seek suitable arrangements for the various artefacts we are currently
unable to display. The Trustees are grateful to Ann Blacklock for providing them with a home
in the meantime. We also remain alert for a possible pemianent home for our archives, but
will exercise caution and due diligence before committing the Trust and its funds to a
building and the associated costs.
Our activities depend substsntially on our volunteers organising and delivering them. The
Trustees are deeply grateful to all our volunteers. If any Member would like to help the Trust
by becoming a volunteer, they can contact our Chair, Trevor Ford, whose email address is
chair@stroudtextiletrust.org.uk, to discuss their interests and the opportunities available.
Structure, Governance and Management
Governing Document
The Trust was incorporated on 21 June 1999, and registered as a charity on 30 November that
year. As a charitable company, its objects, powers and rules of governance are set out in its
Articles of Association, updated by Special Resolution in November 2018. In the event of the
company being wound up, its members would be required to contribute no more than £1.
At 31 March 2025, there were 187 Members, up from 174 at 31 March 2024.
Recruitment and Appointment of Trustees
The Directors of the Company are also the Trustees of the Charity. As required by the Articles
of Associatioffj one third of the Directors retire by rotation at the Annual General Meeting.
Ms J M Hallison Place and Mr I D M Mackintosh retire by rotation and are willing to be re-
elected.
Trustee Induction and Training
Trustees are asked to confimi their eligibility to serve, and are provided with a link to the
Charity CommissRon's page for new Trustees, The Essential Trustee, and to Charity
Commission guidance as an ongoing resource. They will also meet with other Trustees to be
briefed on their responsibilities as Trustees, the governing document, the Trust's activities
resources, and its fijture plans.
Organisational Structure
The Trustees meet at least four times a year to set the strategic direction and policy of the
charity and to deal with operational matters as required, Currently, the Management
Con]mittee and the Events Sub-committee oversee the detailed delivery of ongoing activities
and special events, respectively.

The Stroudwater Textile Trust
Report of the Trustees for the Year Ended 31 March 2025 (continued)
Risk Management
The Trustees regularly review the major risks facing the Charity, and maintain a risk register.
Where possible, risk is mitigated by internal procedures to preserve the Trust's assets,
mission and reputation, and special attention is given to the health and safety of volunteers
and members of the public at our premises and activities.
Financial Review
Income from our norn￿1 charitable activities and fundraising was £14,284 (2024:14,940). We
also received £3,939 from Dame Margaret Weston's estate (2024: £47,063). Our income was
further supplemented by interest of £15,493 (2024: £14,112), received from placing the
bequest on tenn deposit. Interest rates are falling, but in 2024-25 this income supported the
redevelopment of our website (completed after the year end), increasing its heritage content
and making it easier to use, and continued improvements to our visitor offering at the Gigg
Mill Weaving Shed. It also enabled us to subsidise some of our educational activities.
We are particularly grateful to the Dyers Company Charity, South West Museums
Development and Keith Browne for their generous support during the year.
By convention, charities do not attempt to include a financial valuation of their volunteers in
their accounts - but to the Trnst, our volunteers are vital, and their value is incalculable. Once
again, the Trustees would like to record their gratitude for all their hard work.
Long-Tem Risks to the Charity and Future Planning
Even before the transfornrdtive effect of Dame Margaret's bequest, the financial risks to the
charity were relatively low. ovei time, we were generally able to cover routine activities with
routine income and obtain forward funding for special projects. However, we depend on
volunteers to deliver the greater part of our programme, and failure to recruit, train and retain
volunteers would be a significant threat to our mission. We are also conscious that, in the
long tern], our lack of suitable and affordable premises poses a risk that our archive and
collection may deteriorate, and makes it more difficult to share them for the public benefit,
while also iithibiting our ability to promote contemporary textiles. We are actively pursuing
opportunities to ad(tress this, but although the Weston bequest allows us to be ambitious and
flexible in our approach, the Trustees will be careful not to over-commit the Trust's resources
for the long tenn.
Our operational plans in the near terni are outlined on pages 3 and 4. In 2023-24, the T￿SteeS
began to consider the strategic questions facing our mission, activities, governance and
resources. We have now obtained funding from South West Museums Development for a
consultant to assist with building this work into a rolling business plan. We are particularly
keen to integiate our work into both our local and the wider textiles community.

The Stroudwater Textile Trust
Report of the Trustees for the Year Ended 31 March 2025 (continued)
Reserves
Policy
The Trust aims to raise sufficient charitable income to cover its routine activities over time.
In order to ensure that the museums and collection are maintained for the public benefit, it
aims to keep three years of routine expenditure in reserve for unexpected interruptions to
nornial operations, and for unexpected major repair and restoration costs.
The Trustees, intention is to use the capital of Dame Margaret's bequest for the development
of the Trust's work, the furtherance of its charitable objects, and the improvement of its
heritage offering, having in mind the long-terni need for suitable premises, the sustainability
of any major purchase or project, and the availability of other funding. The income from the
legacy will be reinvested whei'e possible, but shall be available for routine activities when
necessary.
Current Position
The Trust currently holds £445,302 in Unrestricted Funds (2024: £430,218). This obviously
covers three years, routine activities many times over. Although Dam¢ Margaret's estate
remains unresolved and likely to remain so for some time, our share of its foreseeable value
has now been received in full, and any future receipts WKII be considered in the light of the
Trust's circumstances at that time. Until now, the legacy has been held in cash deposits,
generating income but no capital growth, but the Trustees are now in a position to review the
reserves policy and develop an investment strategy for the long tenn.
Statement of Trustees, Responsibilities
The Trustees are required to prepare financial statements for each financial year that give a
true and fair view of the state of affairs of the Charity as at the end of each financial year and
of the net incoming and outgoing resources of the Charity for that period.
The Trustees confimi that suitable accounting policies have been applied consistently and
i'easonable and prudent judgemeiits and estiniates have been made in the preparation of the
financial statements for the year ended 31 March 2025. They also confirni that applicable
accounting standards have been followed and that the financial statements have been
prepared on a going concern basis.
The Trustees are responsible for keeping proper accounting records which disclose the
financial position of the Charity with reasonable accuracy at any time and which enable them
to ensure that the financial statenients comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the Charity and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularities.

The Stroudwater Textile Trust
Report of the Trustees for the Year Ended 31 March 2025 (continued)
Responsibilities of the Directors
The Trustees are the Directors for the piiiyoses of company law and Trustees for the puryoses
of charity law. The Trustees who served during the year and up to the date of this report are
set out on page l.
In accordance with company law, as the company's Directors, we certify that:
l. So far as we are aware, the company is exempt from audiL
2. So far as we are aware, there is no relevant information of which the company's
independent examiner is unaware, and
3. We have taken all the steps that we ought to have taken in order to make ourselves
aware of any relevant infornrdtion and to establish that the charity's independent
examiner is aware of that inforn]ation.
Signed on behalf of the board
Trevor Ford
Date
Chair

INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS ON THE
UNAUDITED FINANCIAL STATEMENTS OF THE STROUDWATER TEXTILE TRUST
FOR THE YEAR ENDED 31 MARCH 2025
I report on the accounts of the charity for the year ended 31 March 2025 which are set out on
pages 9 to 14.
Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors of the company for the puryoses of company
law) are responsible for the preparation of the accounts. The charity's trustees consider that
under section 144 (2) of the Charities Act 2011 and Part 16 of the Companies Act 2006, the
audit requirement does not apply for this year, but an independent examination is required.
I report in respect of my examination of the Trust's accounts carried out under section 145 of
the Charities Act 2011 and in carrying out my examination, I have followed all the applicable
directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of independent examiner's statement
My examination is carried out in accordance with general directions given by the Charity
Commission. An examination includes a review of the accounting records kept by the charity
and a comparison of the accounts presented with those records. It also includes consideration
of any unusual items or disclosures in the accounts and seeks explanations from the trustees
concerning any such matters.
The procedures undertaken do not provide all the evidence that would be required in an audit,
and consequently I do not express all audit opinion on the view given by the accounts.
Independent examiner's statement
In the course of my examination, I confinn that no material matters have come to my attention
which give me reasonable cause to believe that in any material respect:
the accounting records were not kept in accordance with Section 3 86 of the Companies
Act 2006 and section 130 of the Charities Act 2011. or
the accounts did not accord with the accounting records. or
did not comply with the accounting requirements of section 396 of the Companies Act
2006 and the methods and principles of the Statement of Recommended Practice,
Accounting and Reporting by Charities.
I have no concerns and have come across no other matters in connection with the examination
to which attention should be drawn in this report in order to enable a proper understanding of
the accounts to be reached.
os
oq
20LS
Name: Michael Howell
Date:
2 Malthouse Close, Broad Blunsdon, SN26 7BG

The Stroudwater Textile Trust
Income and Expenditure Account for the Year Ended 31 March 2025
Note
2025
2024
INCOME
Income from Charitable Activities
Grants and Donations
10,064
4,220
8,316
6,624
14,284
14,940
Dame Margaret Weston Bequest
3,939
47,063
INCOME
18,223
62,003
EXPENDITURE
Direct Charitable Expenditure
Fundraising and Publicity
Management and Administration
15,467
2,068
1,047
17,649
1,974
943
18,582
20,566
Net Incoming Resourees
(359)
41,437
Interest Receivable
15,493
14,112
Surplus of Income over Expenditure
before Taxation
15,134
55,549
Retained Surplus after Taxation
15,134
55,549

The Stroudwater Textile Trust
Statement of Financial Activities for the Year Ended 31 March 2025
2025
Total
Funds
2024
Totsl
Funds
Unrestricted Restricted
Funds
Funds
INCOMING RESOURCES
Income from Charitable Activities
Dame Margaret Weston Bequest
Other Grants and Donations
Interest Receivable
10,064
3,939
3,226
15,493
10,064
3,939
4,220
15,493
8,316
47,063
6,624
14,112
994
Total Incoming R¢sour¢¢s
32,722
994
33,716
76,115
OUTGOING RESOURCES
Direct charitable expenditure
Fundraising and publicity
Management and administration
14,523
2,068
1,047
944
15,467
2,068
1,047
17,649
1,974
943
Total Outgoillg Resources
17,638
944
18,582
20,566
Net incoming r￿0￿ree$ before tyansfers
and revaluations
15,084
50
15,134
55,549
Transfers and Revaluations
Net Movemenl in Funds
15,084
so
15,134
55,549
Total Funds Brought Fo￿ard
430,218
430,218
374,669
Total Funds Carried Fonvard
445,302
50
445,352
430,218
io

The Stroudwater Textile Trust
Balance Sheet as at 31 March 2025
Note
2025
2024
FIXED ASSETS
Tangible Assets
CURRENT ASSETS
Debtors
Deferred ￿tallgible Asset
Current Asset Investments
Cash at Bank and in hand
16,058
10,000
386269
35,111
3,158
429,301
447,438
432,459
CREDITORS DUE WITHIN ONE YEAR
Accruals and Deferred Income
2,086
2,241
NET CUIiRENT ASSETS
445,352
430,218
TOTAL ASSETS LESS CURRENT LIABILITIES
445,352
430,218
RESERVES
Restricted Funds
Unrestricted Funds
50
445,302
430,218
TOTAL FUNDS
445,352
430,218
The Company is entitled to exemption from audit for the year ending 31 March 2025 under Section 477 of the
Companies Act 2006.
The menlbers have not required the Company to obtain an audit of its fmancial statements for the ended 31
March 2025 in accordance with Section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for:
a) ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006, and
b) preparing f￿anCial statements which give a true and fair view of the state of affairs of the company as at the
end of each flllancial year and of its profit and loss for each fmancial year in accordance with the Tequirements
of Sections 394 and 395of the Companies Act 2006 relating to fmancial stateinents, in so far as applicable to
the Company.
The fJnan¢ial statements have been prepared in accordance with the provisions applicable to companies subject
to the Small Companies regirne.
The Financial Statements on pages 9 to 14 were approved by the board of dll'ectors on 4 September 2025 and
signed on its bebalf by..
revor For
hair
Date

The Stroudwater Textile Trust
Notes to the Financial Statements for the Year Ended 31 March 2025
I) ACCOUNTING POLICIES
The principal accounting policies as summarised below have been applied consistently thToughout the year.
Basis off A¢eounting
The fmancial ststements have been prepared under the historical cost convention, and also in acordance with
Financial Reporting Standai-d 102, applicable to the UK and Republic of Ireland, including the provision of
Section IA, 'Small Entities,, the Companies Act 2006, and the Statement of Recommended Practice:
Accounting and Reportkng by Charities issued in January 2019.
The Company has taken advantage of Section 4, paragraph 3(3) of the Companie5 Act 2006 to Use its own
arrangement of headings and sub-headings due to the special nathre of its activities.
Fund Accounting
Restricted funds have been donated for a particular purpose specified by the donor.
Unrestricted funds may be used to further the objects of the Charity at the Trustees, discretion.
Incoming Resources
Membership subscriptions are recognised on receipt.
Other income is recognised in accordance with the accnlals principle, when the charity becomes entitled to it
and when the amount can be quantified with reasonable accurdcy.
Income is treated as unrestricted unless otherwise specified by the donor.
Outgoing Resources
Expendithre is recognised on the accruals principle when a liability is incurred.
Tangible and Intangible Fixed Assets
Items are capitalised when the cost is significant and the Trustees expect an asset to retain its usefulness to the
Charity for a reasonable period, over which it will be depreciated.
Heritage assets are not capitalised, as the cost of valuation would be incommensurate with the benefit to users
of the accounts and the Charity.
Taxation
As a charity, the Trust is not liable for income, Capital gains or Corporation taxes on its current activities.
2) INCOME
Income is received from membership subscriptions, other grants and donations, museum entrance fees, sales of
books and other resources, and fees for talks, workshops and other events.
3) TRUSTEE EXPENSES AND RELATED PARTY TRANSACTIONS
The Chairnian was reimbursed a total of £282 for a social event for Trustees and refreshments at meetings in
which he was representing the Trust. Donations from Trustees totalled £75.
The Trustees also benefited from Professional Indemnity and Trustee Liability Insurance, at a total cost of £63.
12

The Stroudwater Textile Trust
Notes to the Financial Statements for the Year Ended 31 March 2025 (Continued)
4) TANGIBLE FIXED ASSETS
At l April Addition5
2024
Disposals
Charge
for Year
At 31 March
2025
Cost
1,942
(1,942)
Depreciation
(1,942)
1,942
Net Book Value
5) DEBTORS
2025
2024
Accrued Income
Prepayments
14,910
1,148
3,158
Total Debtors
16,058
3,158
6) DEFERRED INTANGIBLE ASSET
Website development
10,000
7) CREDITORS
Amounts falling due within one year:
Accruals and deferred illeome
2,086
2,241
13

The Stroudwater Textile Trust
Notes to the Financial Statements for the Year Ended 31 March 2025 (Continued)
8} ANALYSIS OF FUNDS
2025
Total
Funds
2024
Total
Funds
Unrestricted Restricted
Funds
Funds
a) Movement of Funds
At l April 2024
430,218
430,218
374,669
Net Incoming Resources
15,084
50
15,134
55,549
Transfers
At 31 March 2025
445?02
50
445,352
430,218
b) Represented by
Cash at Bank and in hand
Other Current Assets
Current Liabilities
35,061
412,327
(2,086)
50
35,111
412,327
(2,086)
429,301
3,158
(2,241)
At 31 March 2025
445,302
50
445J52
430,218
14