## **Trustees’ Annual Report for the period** ## **From 1[st] June 2021 Period start date To 31[st] May 2022 Period end date** **Charity name: Museum of Power ‘MoP’** ## **Charity registration number: 1087459** ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The advancement of education by
acquiring, housing and exhibiting,
conserving, restoring and repairing objects
and collections of an educational nature
and by establishing, acquiring, managing
and maintaining museums, galleries,
libraries and other places where such
purposes may be achieved and where
education and educational research and
enquiry and the exchange and
dissemination of relevant views and
information may happen.| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|The MoP aims to conserve heritage
artefacts (especially engineering related) to
help educate visitors (especially young
people) about science, technology,
engineering and mathematics (STEM) and
broaden this to include arts (STEAM) and
to serve our local community. This is
achieved through three main channels,
firstly conservation of the Langford steam
pumping station and the power related
museum based there: secondly through
educational and promotional events, visits
and presentations: thirdly involvement with
the community providing a social venue
and services to the local community.| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|The Trustees confirm they comply with the
requirements of the Charities Act and its
own Governance document. In setting their
objectives and planning their activities the
Trustees have given careful consideration
to the Charity Commission’s guidance on
public benefit.| ## **Additional information (optional)** You may choose to include further statements where relevant about: SORP reference The Museum does not make grants Para 1.38 Policy on grant making |||| |---|---|---| |Policy on social investment
including program related
investment|Para 1.38|The Museum does not undertake social
investment| |Contribution made by
volunteers|Para 1.38|We acknowledge the contribution made by
our volunteers without whom the Museum
would not continue to exist. Many hours
were put in during the year with overall
membership numbers remaining static,
however it is recognised that improvements
to induction, management and support are
required, and practices and procedures are
under review. Volunteer management and
recruitment support has been received
through AIM / SHARE with a limited hours
consultancy support| |Other||| ## **Achievements and Performance** ||SORP reference|| |---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|The Museum has successfully recovered
from the previous year’s restrictions due to
the pandemic and with the support of
various organisations has achieved a
surplus income. This has primarily been
due to a higher level of attendance at fund
raising events. The number of visitors to
the museum outside of these evens has
not returned to pre-pandemic levels.
The education delivery for school students
has been severely restricted with many
unable to attend due to COVID restrictions
and high cost of transport to the museum.
The social engagement through the
volunteer network has continued when
possible and has successfully managed to
reengage with the majority of the
volunteers upon reopening.
Collaboration continued with the Local
Council and other independent museum in
pooling assets and assisting in reopening
and providing new exhibitions are being
used at multiple sites across Essex.| ## **Additional information (optional)** You may choose to include further statements where relevant about: |Achievements against
objectives set|Para 1.41|A bid was submitted to the National Lottery
Heritage Fund for improvements to the
facilities and to create an improved
educational platform supported by strong
income generation activities. The Museum
was successful in its application and was
awarded the fund in March. However, the
museum has been unable to accept the
fund to date due two outstanding issues
and these are still to be resolved. These
are the legal issues regarding the lease
between the Landlord and the Lottery and
the increased costs due to inflationary
pressures on building materials and labour.
The Trustee due diligence review in
ongoing and ensuring that the viability of
the museum is not compromised in the
acceptance of grant. Work continues with
the NLHF to reduce the risks and find a
financial baseline that we can proceed
from.| |---|---|---| |Performance of fundraising
activities against objectives
set|Para 1.41|Fund raising activities have been
successful and has enabled us to achieve a
23% increase over the budget. This has
been due to the major fund-raising events
being well attended by the public after the
pandemic restrictions.| |Investment performance
against objectives|Para 1.41|Funds not immediately required for
operations are held in an interest-bearing
account. A periodic review of alternative
accounts to determine if a better return can
be obtained is undertaken.| |Other||| |**Financial Review**||| |Review of the charity’s
financial position at the end
of the period|Para 1.21|The financial position at year end shows an
excess of income over expenditure.
In addition to an operating reserve,
additional reserves are being held to
support the matched funding requirements
for the planned lottery grant. Due to the
good financial performance this year it has
been possible to meet the NLHF matched
funding amounts when considered with the
outstanding pledges which are to be
received when the museum accepts the
grant.| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|The Board has maintained a cash based
reserve to cover unseen eventualities and
meet future investment commitments.| |---|---|---| |Amount of reserves held|Para 1.22|£60,000| |Reasons for holding zero
reserves|Para 1.22|Not applicable| |Details of fund materially in
deficit|Para 1.24|Not applicable| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|The charity remains a going concern with
clear plans for the future. The risk
management process established ensures
that within the limits of the reserves and
budgetary processes the charity can
continue to operate.| **Additional information (optional)** You may choose to include further statements where relevant about: |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|Memberships & Donations (9%)
Visitor’s admissions (11%)
Events and venue hire (66%)
Catering franchise (4%)
Sponsorship - NWG (0%)
Grants (5%)
School / Group visits (5%)| |---|---|---| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|Plans for the future investment in site
facilities to improve the educational and
community engagement aspects dictate
that at present any surplus funds are held
on short term deposit.| |A description of the principal
risks facing the charity|Para 1.46|The key risk is the loss of valuable
expertise in an ageing volunteer workforce.
At Trustee level a review has identified the
appropriate skills required to take the
museum forward.
Financially the main risk remains the
dependence on large event incomes and
their impact from external effects such as
weather.| |Other||| ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|
Para 1.25|Memorandum and Articles of Association| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|Company limited by guarantee| |Trustee selection methods
including details of any
constitutional provisions e.g.|Para 1.25|Trustees are appointed by the members
after meeting selection criteria defined by| |election to post or name of
any person or body entitled
to appoint one or more
trustees||the board of trustees and proposed by the
board at the AGM.
The landlord of the museum site and
principal sponsor of the museum has the
right to nominate a representative and
exercised that right through an elected
Trustee. The potential conflict of loyalty
has been acknowledged and monitored by
the Board.| |---|---|---| ## **Additional information (optional)** You may choose to include further statements where relevant about: |Policies and procedures
adopted for the induction
and training of trustees|Para 1.51|A procedure is in place for the induction of
new Trustees and appropriate
documentation provided to them as well as
training. All new Trustees are required to
sign the Trustee Declaration Form and are
annually required to confirm they are not
automatically disqualified by events outside
the knowledge of the charity.| |---|---|---| |The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|The Board of Trustees has overall
responsibility for the direction and operation
of the charity; it has a management
committee to undertake all operational
responsibilities and has established a
funding committee to manage financial
viability going forward.| |Relationship with any
related parties|Para 1.51|Essex and Suffolk Water (part of the
Northumbrian Water Group) are the
landlords and principal sponsor of the
museum.| |Other||| ## **Reference and Administrative details** |Charity name|Museum of Power| |---|---| |Other name the charity uses|MoP| |Registered charity number|1087459| |Charity’s principal address|Hatfield Road, Langford, Maldon, Essex CM9 6QA| ||| **Names of the charity trustees who manage the charity** |1
2
3|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year **|**Name of person (or body) entitled**
**to appoint trustee (ifany)**| |---|---|---|---|---| ||Roger Griffin|Chairman||Members of the Charity| ||Richard Waylen|Finance Director||Ditto| ||Mark Weale|Safety& Income||Ditto| |4
5
6
7|John Lowe|HonoraryPresident||Ditto| |---|---|---|---|---| ||Graham Wood|Curator||Ditto| ||Mark Gallagher|Estates and
Facilities||Ditto| ||Stephen Capper|Governance||Ditto| – Corporate trustees names of the directors at the date the report was approved **Director name** Name of trustees holding title to property belonging to the charity **Trustee name Dates acted if not for whole year** ## **Funds held as custodian trustees on behalf of others** Description of the assets None held in this capacity Name and objects of the NA charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for NA safe custody and segregation of such assets from the charity’s own assets ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** |**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**| |---|---|---| |**Type of**
**adviser**
**Name**
**Address**||| |**Accountant**|P.F.Michael LLP|69-71 East Street, Tollesbury, Maldon, Essex CM9 8QE| |**Solicitors**|Birketts LLP|Brierly Place, New London Road, Chelmsford CM2 0AP| |||| |||| **Name of chief executive or names of senior staff members (Optional information)** Patricia Breeze (Treasurer to the Charity) – Volunteer Terence Soame (Secretary to the Board) – Volunteer Debbie Thomas (Museum Manager) – Paid Staff ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details **NA** ## **Other optional information** ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** |**Signature(s)**
**Full name(s)**
**Position (eg Secretary,**
**Chair, etc)**
**Date**||| |---|---|---| ||Roger Griffin|| ||

Chairman|| ||7thFebruary 2023|| ||7thFebruary 2023|| ## ## ||Page|| |---|---|---| |Gompanylnformation||1| |Directorc Report||2| |Accountants Report||3| |Profit and LossAccount||4| |Balance Sheet||5| |Notesto theFinancia!Statements||6| |Trading and Profit and LossAccount||11| ## ## ## ## ## ## ## ||2022|2021| |---|---|---| ||E|E| |Turnover|159,558|90,875| |Cost of Sales|33,689|10,637| |GrossProfit|125,869|80,239| |Administrative expenses|86,063|75,217| |Otherlncome||| |OperatingProfit|39,806|5,021| |lnterest receivable|119|220| |Profit on Ordinaryactivitiesbeforetaxation|39,925|5,241| |Profit for the financialyear aftertaxation|39,925|5,241| |Extraordinary items after taxation||| |ProfiU(Loss)forthefinancial year|39,925|5,241| ## ## |BALANCESHEET
As at3lMay 2022||||| |---|---|---|---|---| |||2022||2021| |Notes||L||E| |FIXEDASSETS||||| |TangibleAssets||52,929||56,078| |CURRENTASSETS||||| |Stocks|944||395|| |Debtors|3,752||5,490|| |Cash at bank and in hand|260,000||253,924|| ||264,756||259,809|| |CREDITORS||||| |Amountsfallingduewithinone|6,929||36,029|| |year||||| |NET CURRENTASSETS||257,827||223,780| |TOTAL ASSETS LESSCURRENT||310,756||279,858| |LIABILITIES||||| |ACCRUALS ANDDEFERRED||102,051||111,079| |INCOME||||| |NETASSETS||208,705||169,790| |CAPITAL ANDRESERVES||||| |Profit and loss account||208,705||168,780| |||208,705||168,780| ## ## ## ## ## ## ## ## ## ## ## |3|TANGIBLEFIXED ASSETS||||| |---|---|---|---|---|---| |||lmprovements|Plant&|Fixtures&|| |||to||Fi t|Totals
E| ||COST:||||| ||At1June2021|51,59547,1_29||2,315|101,039| ||Additions||||| ||Disposals||||| ||At3lMay2022|51,595 47,1292,315|||101,039| ||DEPRECIATION:||||| ||At1June2021|38,533|5,525|903|44,961| ||Charge for the year|1,391|1,594|174|3,149| ||Disposals||||| |||39,914|7,119|1,077|48,110| ||NETBOOK VALUE||||| ||AtSlMay2022|11,681|40.010|1,238|52,929| ||Al31May 2021|13,062|41,604|1,412|56,078| ## |2022|2021,| |---|---| |e|E| |3,752
3,752|
5,490

5,490| |2022|2021| |6,929|36,029| ## ## |ACCRUALSANDDEFERRED INCOME||| |---|---|---| ||2022|2021| ||t2|| |Heritage Engineering Network|1,608|1,477| |Resilience/LivingWellFund|2,475|2,475| |ACEFund|-|18,395| |Education Fund|3,5:71|4,380| |Heritage LotteryFund|59,931|38,134| |Michael Clark Fund (restricted)|50,000|50,000| ||117,585|114,861| ## ## ||e| |---|---| |LIVINGWELLFUND|| |Opening balance|2475| |lncome|0| |Expenditure|0| |Balance at yearend.|2475| ## ## ## |LOTTERYFUND|| |---|---| |Lottery Fundopeningbalance|| |Lottery fund grant received|10,224| |Museum transfertoLottery|19,360| |Lottery Expenditure|20,328| |GrantClosingBalance|9,256| |MatchedFunding Openingbalance
Matched Fundinglncome
Matched FundingExpenditure -
MatchedFundlng GloslgBalance|38,134
13,812
1,272
50,675| ## |lncome|18,395| |---|---| |Expenditure|(18,3e5)| |ClosingBalance|| ## |Additionally themuseum has a board app
of 860,000.|roved policyofretai| |---|---| ||E| |Michael Glark Fund|50,000| |Heritage Lottery Fund|59,931| |Education Fund|3,571| |ACEFund|| |LivingWellFund|2,475| |Heritage Engineering Network|1,608| ||'117,595| ## ## ## ##