## BUSINESS ENTERPRISE HERITAGE TRUST **Minutes of a meeting held on Zoom on 11[th] November 2024** **Present:** Mark Casson (Chairman), Janet Casson (Treasurer), Brian Turner (Secretary), Andrew Godley, Catherine Casson, John Creedy, Lucy Newton, Simon Townley. - **1 Apologies** Peter Buckley - **2 Minutes of the meeting held on 17[th] November 2023** The minutes were agreed as a correct record. - **3 Matters arising not appearing on the Agenda** There were none. ## **4 Trustee members** The Chairman paid tribute to Eric Jones who died earlier this year and outlined his career both in this country and at Melbourne University in Australia. Eric’s death was a great loss to the Trust, which has received books from his estate. The expectation of the Charity Commission would be to replace Eric as a Trustee. Up to 9 Trustees are allowed and it was agreed to keep the vacancy open until such time as a suitable person who would be interested in joining came forward. - **5 Chairman’s report** The Chairman has produced a written report which is included as Appendix A. He commented on the receipt of a comprehensive collection of railway time-tables which are all now shelved at Wantage. Two more donations were expected from elsewhere. A visit has been hosted from an expert conservator who inspected old books and advised on repairs. He commented that we should keep our humidity control under review. Lucy Newton had a possible contact at Nationwide who might have books to donate. The Trust could take up to 450 which we would keep or sell on where appropriate. The number of volumes is to be checked. - **6 Treasurer’s Report** The accounts are reproduced as Appendix B together with a report submitted by the Treasurer. Our case with the Ombudsman is now closed as Santander has provided suitable and correct information. The Treasurer briefly explained the accounts and pointed out that during the year investments had been moved to higher rate accounts. The Trustees all agreed that the Chairman, Treasurer and Secretary should have power to authorise changes and renewals of accounts (proposed Janet Casson, seconded Andrew Godly). ## **7 Independent Examiner’s Report** The Examiner’s report is reproduced as Appendix C ## **8 Gift of Model Railway to the Trust** A model railway of significant size and value has been offered to the Trust by Peter Cotter who has recently moved to Woodcote. It will become the property of the Trust as a gift which has been accepted by the Secretary on behalf of the Trustees all of whom had been consulted. The railway will be accommodated in Unit 6 and the baseboards will be of modular construction for ease of movement. It will be of sufficient size and contain sufficient material to display various industrial scenes and sufficient rolling stock to display different time scales using steam, diesel and electric propulsion. Peter is in contact with railway clubs and this could bring in additional visitors to the Trust. All Trustees confirmed their agreement to accept the gift with grateful thanks. ## **9 Any other business** There was none. ## **10 Next Meeting** The Secretary will organise this for a date in October or November 2025. ## **APPENDIX A** Chairman’s report Business Enterprise Heritage Trust Chairman’s Report to the Trustees for the financial year 2023-2024 The Trustees record with deep regret the passing of our fellow trustee Professor Eric Jones, formerly of La Trobe University, Melbourne, Australia, who returned to this country c. 2004. It was his wish that the Trust had the pick of his remaining books, and this was kindly facilitated by his widow Sylvia. It was agreed that there was no urgent need to find a replacement trustee, and that the position should be kept under review. More generally, the Trust has continued to make good progress with the acquisition of books and the cataloguing of the existing collection. We have received a substantial collection of historical railway timetables, and the first instalment of a library of economic history books from a distinguished scholar. We are also negotiating the delivery of another private collection dealing with the history of economics as a discipline. The Trust has also received a valuable donation of historic model railway equipment, and it is planned to install this, in due course, with the advice of the donor, as an additional visitor attraction. The financial assets of the Trust continue to increase at a satisfactory rate as a result of additional donations. Interest rates have been relatively high (in real terms) over the past year and this has also benefitted our finances. The Trust invited a well-known firm of bookbinders to inspect some of the older books in our collection (c.1800 – c.1900). Their opinions were considered and the Trustees authorised the chair to proceed with repairs to various volumes as he thinks fit in the light of the quotes obtained. ## **APPENDIX B** Accounts for 2023-2024 Treasurer’s Report for the BEHT accounts 2023-2024 shown on the Charity Commission form CC16a (below) The following points elucidate the figures reported in the attached accounts ## A1 The income overall is higher than in 2022-23 because: book sales were higher tax rebate was higher because the previous year’s donation was £30K interest rates on the Lloyds FTD were very much better overall and the interest on the Santander Bonds came into the main Lloyds accounts because the Bonds were closed. (Previously the capital and interest on those bonds had been invested back into new Santander bonds and had never passed through the Lloyds accounts) the gift aided donation was less than in 2022-23 because the amount donated depends partly on the amount claimed as expenses for the purchase of books, travel, and computing. A2 Assets and investments are higher than previous year because both Santander bonds were sold, and the monies went through the Lloyds accounts. ## A3 Payments Recurrent payments have increased very slightly due to general increases plus the replacement of an emergency light fitting, a faulty smoke detector and several battery packs Travel less as no long-distance book collections Book purchases down (see Chair’s report) Library purchases increased slightly because more book labels were required ## B3 Investment Assets A new Lloyds Fixed Term Deposit was purchased in September 2023 for £114030 at 3.05% using the monies from the closed Santander bonds. In November, when an existing LFTD was due for renewal, Lloyds were offering 5.08% if money was invested for 15 months so the money was invested for 15 months. A new investment of £60,000 (from the Lloyds savings account) was made later that month also at the 5.08% rate. In March ’24, when the next FTD was due for renewal, the rate in the 15-month investment was 4.36% but still much better than for 12 months so that money was invested for 15 months as well. John Davies our independent examiner has examined the accounts and their accompanying paperwork and has approved them. I am happy to answer questions or points of further clarification. As Treasurer I proposed that the Trustees accepted the accounts and asked for a seconder to my proposal and a vote. Brian Turner seconded the proposal, and all the trustee accepted the accounts. ! CHARITY COMMISSION FOR EIIGLAWO AND WILES Bu5ine5s Entefprie5e ￿¢￿11?4e-.IU5l Receipts and payments accounts CC16a For the period trom Section A Receipts and payments Uni&sEftciÈd funds I01￿ne è51r.-leG fvnds Total lunds Last funds ta thÈ r￿TESt 1olhè near•st£ Al Receipls 17 8BQ 17,800 30.000 BDOK Saks RebHie 6.632 s., ILFTD RefL-.o gu:, 5.05D SOS0 426 Sub toiallGro&8 IncoffE IOT AR,, 57. 5*436 57.562 A2 Asset and investment Sa￿￿. {5ee table). 321.102 713.365 Sub io¢al )￿.102 JZT.ID2 Toial receipts 268.801 A3 PayTnpr 11.365 496 T?.'el 8xk LIDW¥ 8 Cwlry 590 8.D74 2.441 727 17fj5 Sub toial 15.J53 19.3 1.£40 ,A4 Asset and IDvestment purchases. table) 3915f 392.$82 21&5DI Sub lotal 392.5B2 213,501 Total paymenls 411.935 411.959 235.041 Net of recetpts/(poyments} A5 Transters between fvnds A6 Cash funds lasi ￿3T end Cash this year end 27251 27.251 33.760 74 888 74,888 47.637 47,t37 74,$88 CCXX Rl acrounts ISSI 17m712024 Section B SLitement of assets and liabilities at the end of the period rJi&SU4￿[ed lunds Mar•st£ R¢5.riLtsL' fufids tund$ B1 Cash fund5 3.000 LJ0￿1 Bd" k5.'è-.. 44.637 Total c•sh funds 47,63-, Unrestncted funds to r*4rdst Re5tTitt8d funds nÈarÈ&lÉ Endowment fvTrd8 TaA Réb*thi Gi* Furtd to which assètbÈlofi Cury•nt v¥1 ¢¢¥St IOPhon*l B3 Investment a55ets 341.944 150.638 Fund1owhrt 35SÈt bElon CuF*Ènl trèlv• ¢051 IDpDf*uII B4 Assets retained for the Charity's own usè Lhl S sw.1S*4 4. F￿Tr￿ Ip wh1￿h lJDouDI d 85 Liabilitiès Signed by ¢re or VUSte￿ Dn behalf of thptru51eeS Dale ol roval Sw)naiure Piinl Name 4i CCXX R2 èCCtrJfts ISSI 17107Q024 ## **APPENDIX C** ## Independent Examiner’s Report 2023-2024 Glve here brief details of none any items that the examiner wishes lo disclose. IER October 201B