Charlty re815tratlon number 1087755
Company reglstratlon number 04202906 (England and Wales)
PENDEEN COMMUNITY HERITAGE
ANNUAL REPORT AND UNAUDITED FINANCIAL sfATEMENT5
FOR THE YEAR ENDED 31 MARCH 2025

PENDEEN COMMUNITY HERITAGE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
MrKACBaker
Mr J S Swarbrooke
Mr N M Davies
Mr B Corn
Mr B D Oldcorn
Mrs C Tomlinson
Mr P M Warren
Mrj J Hardv
IAppointed 23 January 20251
(Appointed 19 October 2024)
(Appolnted 19 October 20241
Senlor rnana8ement
Mlke Slmpson
Mlne mana8er
Charlty number
1087755
Compary number
04202906
e8lstered offlce
Count House Office
Pendeen
Penzance
Cornwall
England
TR19 7EW
Independent examlner
TC Group
Vivian House
Newham Road
Truro
Cornwall
United Kingdom
TRI 2DP

PENDEEN COMMUNITY HERITAGE
CONTEPK5
Report of the Chair of the Board of Trustees
Trustees, report
3-15
Independent examiner's report
16
Statement of financial activities
17
Balance sheet
18-19
Statement of cash flows
20
Notes to the financial statements
21-35

PEIIDEEN COMMUNITY HERITAGE
REPORT OF THE CHAIR OF THE BOARD OF TRUSTEES
FOR THE YE4R ENDED 31 MARCH 2025
The year from April 2024 to March 2025 was a challenging year for Pendeen Community Heritage IPCHI and
Geevor. Like all vlsltor attractions we were affected by the substantial downturn in tourist numbers In Cornwall.
However. because of our marketin8 efforts we were able to weather the storm much better than many of our
competitors in a year which Saw a number of well-known local attractions close for good.
We have also had to èbsorb the rlslng cost of ener8y and the Increasln8 Cost of stte malntenance.
Due to its financial crisis Cornwall Council will no longer be paying an annual management fee to PCH to help us
manage and conserve the site which they own. This fee had been pakl every year since 2001 but we received the
last ever payment in January this year.
On a much happier note the year also saw sorne spectacular successes such as the staging of the excellent
'Stran8er Beasts, show on site which generoted 518nificant income for us. We also had our best ever year for
school groups and began to implement our plan to make Geevor a centre of excellence for the teachlng of science,
technology, engineering, and mathematics. This involved amongrt other things givin8 local young people to
chance to build an electric car at Geevor. And we launched a series of successful music events and a talks
programme on site.
We have also been fortunate to recruit excellent new members of the staff team as well as four dynamic new
Trustees who are already maklng a p051tive difference at Geevor. It is really important for the future of Geevor that
we have succession planning for the future so that as staff and Trustees retire there are others ready to tske their
place.
It was our first year of having a 99-year lease from Cornwall Councll which gives us much more autonomy and we
are already taking advantage of that newfound freedom tt) launch a number of income generating activtties.
The Board of trustees is looklng to the future and developing a lon8-term flnancial Strate￿ for Geevor to ensure
that that ourfinances ore suttainable for many years to come.
This Involves bulldln8 on the success of our summer 2025 event5 pro8ramme to make Geevor an all-yeaf-round
events venue for the benefit of the local ¢omrnunity as well a5 our visitors.
We are also looking to bring buildings which are currently unused or underused back Into productive and
profitable use as we have already done with the premises that are now occupied by Lands. End Cycle Hlre.
All of this is desi8ned to reduce our dependence on income from ticket sales 8iven the volatllhy of the tourlsm
market In Cornwall.

PENDEEN COMMUNITY HERITAGE
REPORT OF ThE CHAIR OF THE BOARD OF TRUSTEES (coNfiNUED)
FOR THE YEAR ENDED 31 MARCH 2025
This summer we introduced our new 'Friends of Geevor, scheme to generate income but more importantly to
engage visitors and locals more deeply with Geevor and PCH. PCH will ￿rna1n the charity that controls Geevor and
existing PCH member5 will also be automatically 'Frends of Geevor, but the 'Friends' will be the public face of PCH.
We were delighted to receive substantial fundlng through the government'5 Sh3Ted Prosperity Fund for major
improvements to the café and opening of the Mossel 'take away, facility. The work has increased the capacity of
the café and improved the customer experience throu8h the comfortable new furniture and the new table servlce
system.
Finally in terms of what we are doing we want to grow our tearn of volunteer5 50 that we can achieve more wlth
the same financial and staff resources. Geevor is a great place to be involved with and over the comin8 year we
will be advertising Opportunities for volunteers of all ages.
It ha5 been a dlfficult year but we have come through it in good shape and we are confident that Geevor has a
brlght future.
This is In no small part thanks to the hard work and dedication of our staff team and volunteers and, of course,
you as members of PCH and supporters ofGeevor.
John Swarbrooke
Chalr, Board of Trustees

PENDEEN COMMUNITY HERITAGE
TRUSTEE5' REPORT {INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their annual ￿port and financial statements for the year ended 31 March 2025.
The followin8 report illustrate5 our work over the past financial year and hi8hll8hts some of our key achievements.
The financial staternents have been prepared in accordance with the accountin8 policles set out in note I to the
flnancial statement5 and comply with the charity's governing document, the Companies Act 2006 and "Accountin8
and Reporting by Charitle5'. Statement of Recommended Prartice applicable to charities preparin8 their accounts
In accordan¢e with the Financial Reportln8 standard applicable In the UK and Republlc of Ireland IFRS 1021"
(effective l January 20191.
Oblertl¥es and attlvltles
The oblectfves of the charlty remain the sarne:
to manage preserve, protect and interpret the mining heritage of Geevor Mine and other mining site5 in
the Pendeen & St. Just area, for the benefrt of the people of Pendeen and St. Just and the public at large:
to educate the public about the hlstory of mining in Cornwall:
to advance education and trnining in ski115 relevènt to securing employment in industrial heritage
preservation and allied field5,'
to promote the beneftt of the people St. Just & Pendeen by ensuring that developments on the Geevor
slte take full account of local social welfare interest and are con515tent with the object of improving the
quality of life for local inhabitsnts
• to further any other charitable purpose for the benefit of those Ilvlng In the Pendeen & St. Just area
Strotegie5fvr achieving alm5 and obJertlve5
Operatlonal Targets
Operational financial and other targets are set annually by the Directors. A budget was prepared In March 2024 for
the April 2024-March 2025 financial year which had forecasted 39,910 vlsltors for the year. ProJerted turnover wa5
forecast at £642,051 ￿SUItIng in an operational deficit of approximately £52,¢X)O. reflecting the loss of £50,000 of
the management fee from Cornwall Council following the terms of the lon8-term contract.
Mlne Shop
The mine shop, opernted by our wholly owned subsidiary company. Geevor Trading Limlted. generated an
operational deficit of £600 in the last financial year, and accordingly no donation via gift aid has been made to
Pendeen Communlty Heritage thls year.
In additlon to the numbers of visitor5 to the museum, it Is estimated that at least an addttlonal 7.CKKI people per
annum visit the cafe and mine Shop, many of these beln8 people from wlthln the local area.
Public beneflt
The trustees have pald due regard to 8uidance issued by the Charlty Commission in decidin8 what activities the
charity should undertake.

PENDEEN COMMUNITY HERITAGE
TRUSTEES. REPORT (INCLUDING DIREcfoR5' REPORTI (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Achlevements and perforniance
Slgnificant octwities and ochievements agalnst objettives
Mlne Managerfs Report- Mlke Slmpson
The 12 month perlod from April 2024 to March 2025 wa5 another challenging year, with 38,433 visltors enloyin8
the Geevor experience. a slight decrease of 2.7% compared with the previous year; visitor numbers for March
2025 were the lowert forthe month for manyyears.
Whlle Income was lower than anticipated, overall cost5 were well contalned in a difflcult economlc climate.
Vi51tor satisfaction remain5 high: In July we were informed that Geevor was awarded the coveted 'Travellers
Cholce, award by Trip Advisor, a reflection of our vlsitors, posltlve experiences at the mine during thelr tlme here.
We have received the highest accolade from the or8an15ation continually for many years.
In May 2024. our frlend. colleague and Pendeen Community Heritage co-founder and the first chair of trustees,
Bill Lakln, passed away. Over many years Bill worked tlrelessly for the benefft of Geevor. He was instrumental In
workin8 to obtaln the vital fvnds for the £3.8m Lottery-funded 2(10718 Geevor Project that helped save the slte
and enabled all subsequent development work to continue.
The year also saw a number of long-term staff retire. Shella Russell, a co-founder of PCH and the first Company
Secretary, and Kay Law, Company Secretary, both ￿tired from our accounts team. Former Geevor miners. Eddie
Strick and Mick McArdle. together wtth colleague Mark Edwards retired as mine guldes. We thank them all for
their VA)rk with the charity and wish them a long and happy retirement.
I thanks all of the Geevor staff and volunteers for their dedication and enthusiasm and for ensuring that all of our
vlsit0￿ were provlded with the excellent Geevor experience.
My thanks also go to Matt 8urford and Mar8aret Burford and their team at the Count House Cèfé. They have
developed a conslderable reputation for providlng excellence both for Geevor customers and locally-based
resldents. While the café may be franchlsed the café management and Geevor work as a team.
Museum and Operatlon$ Manager's Report- Jack Roberts
Shared Prosperlty Fund
At the beglnnin8 of the year we received the great new5 that our appllcatlon to the Shared Prosperlty Fund had
been successful for the project to rfrdevelop the Geevor cafe. Capltal works commenced wlth the renovatlon of
an old staff kitchen space in the Reception Count House building to create a new 'M055el' takeaway outlet. which
was opened in tlme for the school May half term. At the same time a shipping container. fitted out as a
preparatlon kttchen. was installed at the rear of the current cafe kttchen. These improvements have made a hu8e
dlfference a5 to how the cafe operates. wtth the option of dining and takeaway offers from separate locations.
The project was paused overthe busy summer months with capltal work5 re5umlng In December 2024 In the maln
cafe kitchen and dining space. We made the decision to close the cafe in the quietest month of January to allow
our contractors excluslve access to the building. Work was completed to a high standard and on time with the café
reopening In early February.
The refurbishment has receNed fantastic feedback from visitors. staff, and volunteer5. The Shared Prosperity Fund
has seen almost £3IXI,OQO worth of investment on the Geevor 51te and sets U5 up for a prosperous future. As part
of the fundlng arrangements we have agreed a new lease wlth the Count House Cafe whlch wlll see a slgnifKant
increase In our annual rental income.

PENDEEN COMMUNITY HERITAGE
TRU5TEE5' REPORT (INCWDING DIRECTORS, REPORn ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
l Mllllon Vlsltors
Wednesday Ortober 2nd 2024 was a momentous day for Geevor Tin Mine when Pendeen Communty Herftage
welcomed St Hllary School as the one millionth visitors since we opened a5 a museum and visitor attractlon In
1993. Thi5 is an incredible milestone for everyone that has been involved with Geevor, from the time of convertlng
the closed mlne Into a mining museum, to the multl-award winnlng vlsrtor experience that it is today.
Wlld Works: Stran8er Beasts
Followin8 initial discussions in April PCH a￿￿ed to host a series of open air theatre performances of '5tranger
Beasts, by the Wild Works production team to be staged around the Geevor site. Wild Works had a presence on
site for severnl months assembllng stages and rehearsin8. The show ran for 3 weeks in late September/earlv
October attracting over 30(MJ people to Geevor. It was an incredibly well-run production and a B￿at advertisement
of the Geevor slte.
Based on attendee feedback, 60% of those attendin8 had not VlSfted Geevor before. The production generated
over £ll,OL)J of additional income to PCH. Collaborating with Wlld Works was a B￿at experience which we would
be more than happyto do agaln.
Gl8s and events
During the year Geevor hosted a series of musical gigs in the café and h05ted a number of tslks which brought a
different audlence to the site.
Our annual ChrSstmas event attracted over 200 people, mostly local famllle5 and chlldren. and desplte losln8 one
of our two dates to poor weather, thls provlded a much needed income boost at a quiet time of year.
Geevof Shop
In December we saw the departure of shop manager Tom Barton. He had achieved a great deal as shop manager
over the last few years and, combined with hls excellent design work, he also contributed to the Geevor Site. I
have since taken on the running of the Shop focusing on building upon the great rdnge of stock Tom had collated.
Museums Accredltstlon
After being granted a year's provisional accreditation in 20241 resubmitted our application to the Arts Council in
January 2025 for full accredFtation. This ￿SUbMiSsion was focused mainly around the ownership of the collection
which had been hlghllghted as an Issue during the prevlous submisslon. After completing a slte Inventory and
submittin8 this to Cornwall Council we have signed a Collections Management Agreement and Plan which will
hopefully provide clarity for the Arts Council in the accreditation process.
Volunteers and Work Experlence
Our excellent 8roup of volunteers have continued to progress variou5 restoration projects on site. We thank Pete,
Steve. Jerry, Ash, Andy. John, Eric, Kevin, John. Jack, Josh, and Michael for their hard work and commltment. We
also extend our thank5 to Vaughan, Marcia and Collette for all of thelr work durlng the year.
Our archive volunteers have continued their great work on cataloguing the collection and helping us with plans to
rnodernise the archive. Their input in the accredltatlon process has been really useful. Thank you to Jean, Ann,
Jenny, Frank. Linda and Quentin.
We have contlnued to build upon on SEND Volunteering opportunltles wtth volunteers Josh, Jack. Eric, and
Michael all pro8resslng and contlnuln8 to work wlth u5. We have also developed rtrong connections With 'Learn 2
Cornwall, a local education organisatton that specialises in workin8 With youn8 people wtth a range of learning
disabilities. We have welcomed 4 separate work experience students to the site in this period.

PENDEEN COMMUNITY HERITAGE
TRUSTEES, REPORT {INauDING DIRECTORS. REPORT) (CONTINUEOI
FOR THE YEAR ENDED 31 MARCH 2025
Retlrlnz Forn)er Mlners
This period also marked the retirement of two of our Geevor guide5 and former miners Mick McArdle and Eddle
Strick. Both Mick and Eddie have led the way in keeping Geevor's history alive and sharing thelr memorles of their
time underground at Geevor with our visitors. They have been exemplary advocates of all that we have achieved
at Geevor since it reopened as a museum. Their humour and camaraderie on a daily basis will be 8reatly missedl
Thank you Mick and Eddiel
l also thank Mark Edwards for his time working as a guide and for a long and healthy retirement.
Communlty Outreath and Networkln8
I have continued to ensure that Geevor plays a leading role in our industry and communlty- I have continued as the
chair of the Tin Coast Partnership working to expand the partnership's work within the community. This has been
enhanced by workin8 With St Just Town Council and the Town Vitality Fund project. I have a150 continued my role
as Vice Chair of the St Just Miner5 Chapel charity which shares many joint aims with Geevor. My role 35 a director
of CATA (Cornwall A550clation of Tourist Attrartlonsl ensures that Geevor has a stron8 voice in our Industry and
helps shape declslons made.
I have also attended severnl meetings of the Far West Busine55 Network, a local business network, aimin8 to help
small and large businesses collaborate effectively.
Finally. I have been working wtth the Lafrowda Club wlth a particular focus on their plans for an archive space in St
Just, and how we might collaborate with them.
Learnlng Team Mana8er's Report- Cllnt Hosklng
Irrtroductlon
Geevor's Learning and Outreach Program has continued to expand and diversify Its activities, reaching new
audiences and strengthenin8 partnerships with edutational institutions, herltsge or8anisatlons, and Industry
sponsors. Thls report outlines recent development5 and successes across outreach, school engagement. and
community involvement. with particular highli8hts from the New Outreach Program and collaborative efforts with
key stakeholders.
STEM Engagement at Geevor
Careers Falr5
Durin8 2025, Geevor particlpated in severdl careers fairs, including two signlficant event5 In February. The first was
the Cornwall Mining and Geo-Resources Alliance ICMGAI Futures Day held at Cornwall Colle8e. St Austell Campus.
The second was the Hayle Futures Day at Hayle Rugby Club. where Geevor represented the mining industry. The
Hayle event was attended by more than 500 students.
At both events, Geevor delivered interactive stalls featuring STEM activitie5 based on geology and engineerin
designed to highlight potential career pathways within the mining sector.
Collaboratlon wlth Greenpower Educatlon Trust (Gm
Geevor continued its collaboration wrth the Greenpower Education Trust throughout the year. The Learnlng Team
supported Pendeen School's after-school STEM Car Build Club and subsequently participated In the race day event
at Predannack Alrfleld. Thls event broughi tO8ether 5choo15 from across Cornwall. provldlng students with hands-
on emperience In engineerln8 and teamwork.

PENDEEN COMMUNITY HERITAGE
TRU5TEE5' REPORT (INCLUDING DIREcfoRS' REPORn ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
Mlnerals Matter Partnershlp
On the recommendation of STEM Learnin& Geevor has initiated a partnership wlth Minerals Matter, the
educational arm of the mining industry. Minerals Matter works to promote and encourage career5 in mining and
quarrying amon8 youn8 people.
Discussions are also underway with STEM Learning re8arding the appointment of Geevor staff members as STEM
Ambassadors, which will further strengthen our OUt￿a¢h and engagement with students across the region.
New Outreach *08ram
A new outreach Initiative combinlng music and mining stories has been successfully launched, targetin8 adult
audience5. This program has resonated particularly well with:
Holiday parks
The Women's Institute
Care homes
The inttiative celebrates Cornwall's industrial herttage through engaging, accessible storytelling and has proven
effective in connecting with non-school audiences in a meaningful and enjoyable way.
Industry Partnershlps and Spon50rshlp
Geevor's Learning Program continues to benefit from stron8 partnership5 With industry 5UPPOrter5. In partlcular..
Cornwall Herita8e Trust and Cornish Meta15 have jolntly sponsored transport for several 5choo15, removlng
access barriers.
Cornish Metals has also funded admisslon and outreach sessions. allowing a Breater number of students
to benefit from Geevor's educational resources.
Aspert Holidays has supported outreach efforts by promoting programs to vlsltlng groups.
These collabordtlons enable enhanced educatlonal opportunltles both onslte and In community settln8S.
Carnyorth Outdoor Leamlng Centre Collaboratlon
With the Aspire Academic Trust now operating the nearby Camyorth Outdoor Learnlng Centre, near￿ all visiting
schools now incorporate Geevor into their itinerary. These extended stays alk)w for.,
Deeper engagement through longer slte visit5.
Joint programming Wlth Levant Mine, where Geevor s Learnln8 Team collaborates wlth Levant staff to
deliver complementary workshop5.
This dual-slte approach enriches student understanding of:
Historical mlnin8 period5
Technolo8icèI development
The comparative learnln8 approach Is especially effertive in delivering core currlculum content in a dynamlc and
immersive setting.

PENDEEN COMMUNITY HERITAGE
TRUSTEES, REPORT IINCWDING DIREcfoR5' REPORn ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
Further and Hl8her Educatlon Engagement
Geevor has strengthened links with p05t-16 education providers:
Cornwall College hosted their Senior Staff Development Day at Geevor.
This led to an invltation to participate In a Careers Falr at the St Au5tell Campus, wlth plan5 to attend
Similar events in the future.
These connections are vital for promotin8 heritage careers and educational pathways ￿lated to history, tourism.
8eolo8y, and the environment.
Key Stage Three Engagement
While en8a8ing Key Stage 3 students remalns a challenge due to schedullng constraints, Geevor has bulh regular
relatlonshlps with:
Richard Lander School
Camborne Science and International Academy
Their photography students benefit from the stte's visual richness and hlstorical significance. Geevor provides
interpretation to ensure that the educatlonal value of thelr images is fully understood, offerlng a rare opportunitv
to link art with social and industrial hlstory.
Work Experlence and Incluslve Learnlni
Geevor's Work Experience Program remain5 a valuable offering for local secondary school students. In additlon,
collaboration with Ductu. an or8anisation supporting disadvantaged and disabled students, has expanded the
inclusivsty of the pro8ram.
Students gain hands-on experience In areas such as:
Education delivery
Retail and customer service
Front-of-house operations
Curatorial and heritage work
These placements a￿ tailored to individual needs and abilitie5, ensuring positive outcomes for all participants.
Con¢luslon
Geevor'5 Learnin8 and Outreach work contlnues to evolve, underpinned by strong partnerships, Innovative
programming, and a commitment to incluslvlty. The combination of curriculum-linked content. adult-ft)cused
outreach, and meaningful industry support ensures that Geevor remains a leading educational resource In
Cornwall.

PENDEEN COMMUNITY HERITAGE
TRU5TEES' REpoirr IINCWDING DIRECTOR5. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Significontfartors
School Vlslt Statlstl
We are dellghted to report that thos reporting year was our most successful to date.
Workin8 With Carnyorth and the Aspire Academy Trust, our summer term was a particularly busy perlod with more
than a quarter of our school 8roiips v151tin8 during this perlod. Many of these schools are regular vlsltors, one for
twenty years.
The development of good partnershlps with teacher5 and academlc trusts has proved to be an essential part of
our contlnuin8 succes5.
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Outreach S¢sslons
Outreach sessions have once agaln been a standout success this year, driven by the expansion of our programme
and the Incluslon of music sessions and talks for lifelong learners. These workshops not only broaden our
engagement with the community but also present a previously untapped source of income for the site.
lun.12
Jul.11
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PENDEEN COMMUNITY HERITAGE
TRUSTEE5' REPORT {INCLUDING DIRECTORS, REPORTI (CONTINUEDI
FOR ThIE YEAR ENDED 31 MARCH 2025
Flnanclal revlew
The charity generated a surplus of £95.318 for the year which comprised of a unrestrirted deficit of £100,958 and
a restrlrted Surplus of £196.276. The restricted surplus arose primar1￿ as a result of the Shared Prosperity Fund
grant which funded a capital project, the costs of which are inltlally shown In the charlty's balance sheet and will
result in depreciation charges Within expenditu￿ in future period5.
At the end of the year. the charÉty carries forward unrestricted funds of £204,460. whlch Includes free funds of
£117,454 and an amount of £87,(￿ which has been desi8nated for specific purposes. Restricted funds amount to
£287,079 at the year end.
A further de5criptlon of the nature and PUfP05e of the funds is 8iven in the notes to the accounts.
The financial deficits recorded dijring the year under ￿VIeW require explanation. This is the first full year of PCH
operating under the terms of the new lease from Cornwall Councll.
The 1055 of £100,958 includes a one-off expenditure of £51,000 of unreclaimable VAT inCUr￿d from the Shared
Prosperity funding of the café refurbishment. However, following completion of the works and the hi8hly
successful operatlon of the café and takeaway outlet during the year we will be able to report Si8nificant increased
revenue from the café in next year's financial accounts.
The maintenance 8rant from Comwall Councll was reduced by £50.CIXJ accordlng to the terms of the lon8-term
lease a8￿ernent.
The small deficit recorded by Geevor Tradlng lrnlne shopl wa5 primarily the result of a large stock order that wa5
placed in December 2024 for the following season. The benefrts of the sales of this stock will be ￿flected in the
current financial year.
Trustees and management have been proactive in addressing the deficlt Incurred by the charlty. Flve members of
staff who retired or ￿SIgned in the last year have not been replaced. wrth workin8 practices altered to
accommodate the reduction in stsfflng numbers.
Staffing hours during the winter months of 202516 will be ￿dUCed with attention to planned works.
There has been strong focus on reducin8 costs in other areas of our operatlons and these savlngs are alreadv
being reco8nised.
Following the departure of the shop manager in December 2024 due to relocation, trustees and management
determlned that the position would not be fllled, with the operation of the shop being carrled out by PCH rtaff
and the charity charging staff time to the Company towards the costs of its operation.
Trustees and mana8ement are artively exploring new revenue streams that are not solely dependent on people
visiting the mine.
Reserves policy
It is the policy of the charity that unrestricted funds whlch have not been de5i8nated for a specific use should be
malntalned at a level sufficlent to ensure that. in the event of a slgnificant drop in fundin8, they will be able to
continue the chariV5 current activities while consideration is given to ways in which additional funds rnay be
raised.
10-

PENDEEN COMMUNITY HERITAGE
TRU5TEES' REPORT (INCLUDING DIREcfoRS' REPORT) ICONnNuED)
FOR THE YEAR ENDED 31 MARCH 2025
Plans for future perlods
Future Devtlopments
Pendeen CommunSty Herltage contlnues to develop ideas for impri)ving Geevor Tln Mlne's economic sustalnablllty
and the need to address the site's being placed on Historic England's Herf(3ge at Risk Register in 2014. The 'Vision
Document. produced by PCH in 2019 is the framework for ensuring Geevor is financially sustainable and able to
play on important role in the economic development within West Cornwall.
Structiire. govemance and management
The charity is a charitable company, limited by guarantee, as defined by the Companie5 Art 2006. It is governed by
its memorandum and articles of a55OCiation.
The trustee5, who are a150 the dirertor5 for the purpose of company law. and who served durin8 the year and up
to the date of signature of the financial statements we￿.
MrKACBaker
Mr J S Swarbrooke
MrN M Davies
MrBCorn
MrB Doldcorn
Mrs C Tomlinson
Mr P M War￿n
Mrj J Hardv
Ms M E Soper
(Appolnted 23 January 2025)
(Appointed 19 October 20241
{Appointed 19 October 2024)
(Resigned 25 May 20251
Recruitment ond appointment of trustee5
New Directors are recruited by co.option and election at the subsequent AGM.
The Directors meet at two-rnonthly intervals. These meetlngs have taken place vlrtually on 'Zoom'. Full minutes
are taken and are on file in the Geevor office. All policy decisions continue to be made by the Dirertors. Any
financial transactions over El,000 In value require prior Dlrertor approval.
None of the trustees has any beneficial interest in the company. All of the trustees are member5 of the company
and guarantee to contribute £1 in the event of a winding up.
11

PENDEEN COMMUNITY HERITAGE
TRUSTEES, REPORT IINCLUOING DIREcfoRS' REPORT) (CONTINUED)
FOR THE YEAR EhlDED 31 MARCH 2025
Orgonlsationalstrurture
Day-to-day management Is delegated by the Trustees to:
Mlke Slmpson- Mine Manager
Slte 0￿erShIP
Geevor Tin Mine Is a key centre of the Cornwall and West Devon Mining Landscape World Heritage Site and
designated nationally and internationally important scheduled monument. It is the last example of a complete tin
mine with its associated surface buildings and machinery in Europe and stands as a reminder of Cornwall and
West Devon's stature as a major producer of tin, copper, and other metals over the centuries.
Cornwall Council owns the freehold of the site and acts as landlords with Pendeen Community Herttage as
tenants. In January 2024 Pendeen Community Heritage signed a long term 99-year lease with Cornwall Council to
continue the mana8ement of the site.
Under the terms of the Mining Regulations 2014 Pendeen Comrnunity Herttage Is considered a5 the site owner
and operator and, thus, 15 under the luri5diction of the Mlnes Inspectorate of the HSE.
The charity {Pendeen Community Heritage) operntes under a Memorandum and Article5 of AsSOCiatlon as
company 11m￿ed by 8uarantee and not having a share capital. The charty operates a wholly-owned subsidiary,
Geevor Tradln8 Limited, whlch carries Out non-charltsble tradln8 actlvltles, with all proflts 81ft-alded to the charlty.
12-

PENDEEN COMMUNITY HERITAGE
TRusfEES' REPORT IINCWDING DIREcfoRS' REPORn (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Other matters
Staffln8
There are 24 full time and part time permanent Staff currently employed at Geevor, a team that is highly skllled
and composed of utillty players able to operate across dlsclpllnes. Geevor Ss also extremely fortunate to have a
team of skilled and enthusiastic volunteers.
Rlsk management
The Directors have a duty to identify and ￿vIeW the risks to which the charty is exposed and to ensure that all
appropriate controls are in place to provide reasonable assurance against fraud and error. The Directors again
confirm that the major risks to which the charity 15 exposed, as identifled by the Directors in the Rlsk Register,
have been reviewed in the course of the year and that all possible risk management Systems are in place. The
Directors have kept all rlsks to which the charty is exposed under review since inception.
Management accounts are produced monthly and are closety examined by Directors at 2-monthfy meetlngs. The
revised system of reporting on the management accounts set up in 2tK)6 works well, with expenditure closely
identified against ￿viSed codes. A formal review of all risks is done annually ènd any new risks Identlfied are
reported on here.
The risk for the café has continued to be carried by Matt Burford and Margaret Burford who operate the business
as a franchise with the rent reviewed annually.
Operatlonal rfsk- Surfa￿ and underground vlslt$
Operational risks a￿ managed under stringent legislative requirements. Staff contlnue to carry out mlnor remedlal
work to buildings, equipment and the underground sectloft as Identlfled during routine inspectlons. Dally mlll and
Unde￿roUnd inspections by Geevor staff ensure the integrity of the buildings and underground visitor route.
There were no reportable accidents or incidents on site durin8 the perlod under revlew.
PCH has responsibility for on-site health and safety and to provide the wherewithal for any work deemed
necessary on safety grounds to buildings and strurtures.
Flnandal rlsk exposure
As with any business dependent on tourism, the main risks faced are financial. Over the twenty-four years that
PCH has operated, minimisation strate8ie5 have been developed. A twelve month budget Is set which is reviewed
at six monthly intervals, while the accounts are scrutinised at trustees. meetin8s. The management accounts are
mentioned separately. The charity contlnue5 to Investigate strategies to make best use of its cash reserves.
Dlrertor5 have determlned that sufflcient funds need to be held to enable projetts to further enhance the visltor
experience can be realised.
Pendeen Communlty Herltage continue5 to seek external fundlng for specific projects being developed on slte, In
particular projects which will contribute to revenue generatlon.
From January 2025 all revenue grants from Cornwall Councll, as agreed in the lease agreement, ceased.
13-

PENDEEN COMMUNITY HERITAGE
TRU5TEES' REPORT {INCLUDIIIG DIREcfoR5' REPORT) ICONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Vlsltor Proffle
The year under review was a successful one with 38,433 vlsitors welcomed to the mine, a decrease of 2.7%
increase from the prevlous year, lar8e￿ due to a quiet winter perlod.
The visltor profile was again Ilttle changed from the prevlous year. Of total tlckets sold 21.8% were adult, 12.6%
concession5, 6.6% individual childl students and 19.2% family groups,. the number of discounted tickets for all
ticket categories (available as discount vouchers in guide booklets) further fell to 13.3% (when historically they
We￿ +20%). School 8roups reached a ￿(ord level 110% of visitors). however. adult tour groups remaln
518niflcantly lower than prevpandernic levels12.3%1,' museum only tFcket sales were 2.2% ènd free entry (teachers,
under-4'5, ex-Geevor miners etcl were 12% of total visltors. It is very pleasing to report that vlsitors from
continental Europe continue to make a significant contrlbution to our overall number5.
The unique selllng polnt of the vlsit to Geevor remalns the underground t(wr wlth more 97.8% of tickets sold
including the underground experience.
Vlsltor feedback
Visitor 5atisfattion levels continue to be very hi8h. Such te5timonlals are provlded by word of mouth, visitor
Questionnai￿S. letters, emails. comments books and social media.
Geevor recelved the 2024 Travellers, Cholce Award from Trlp Adv150r for consistently hlgh customer revlews.
Trip Advlsor revlews for Geevor Tln Mlne contlnue to Impress wlth 95.6% of the ievlews recognlslng thelr
experlences a5 bein8 elther'very Good. or'Excellent'.
From comments books/ Trip Advisor..
A must to visit In Cornwall, Couple
Extraordinary experience, _ Family
'More to do than you thinW- Famlly
'The hl8hlight of my hollday. Solo
'Fanta5tic day out- Fami
14-

PENDEEN COMMUNITY HERITAGE
TRU5TEES' REPOIIT {INauDING OIRECTORS, REPORn (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Relotionship with widernetwork
Partnershlp workln8
We have again worked with a wide ranBe of partners. These include: the National Trust, the Sensory Trust, the
Centre of Pendeen. Pendeen Pilot Glg Club Istorage for a boatl, the St. Just Mines Research Group. the Trevithkk
Society, Isome of whose collection is stored on sitel, Penlee House Museum & Gallery, PK Porthcumo,
Vi5itCornwall, Cornwall Association of Tourist Attrartion5. The World Herita8e Site office. Lands End Cycle Hire and
Cornwall Herttage Trust who occupy two of our buildings.
Geevor is a major partner in the Tin Coast Partnersh5p, a Coastal Communities-hjnded project created to boost
5UStainable tourism in thls region of West Cornwall. This is a partnership of local businesses and or8anlsations In
the public. private and voluntary settors. who work in the interest of its long term sustainability, so that the Tln
Coast remain5 a great place to live. work, and visit.
PCH remalns a member of theAssoclation of Independent Museums IAIM} and ofthe Natlonal Associatlon of
Mining History Organisations.
Schoo15 and other educatSonal organisatlons wlth whom we have worked are Included in the report by the
Learning Team Manager.
Funders
Pendeen Communlty Heritage is grateful to funders who have supported us durln8 the year.
The Museums and Operations Mana8er's ￿port 8ives details on the cafe improvements that resulted from Sha￿d
Prosperty Fund award.
The trustees, report was approved by the Board of Trustees.
r J S Swarbrooke
Date=..
15-

PENDEEN COMMU141TY HERITAGE
INDEPENDENT EXAMINER'S REPORT
TO THE TRusfEES OF PENDEEN COMMUNITY HERITAGE
I report to the trustees on my examination of the financi31 statements of Pendeen Communlty Herlta8e (the
charity) for the year ended 31 March 2025.
Responslbllltles and basls of report
As the trustees of the charity land also Its dlrectors for the purposes of company lawl you are responsible for the
prepardtion of the financial ststements in accordance with the requirements of the Companies Act 20061the 2006
Act).
Having satisfied rnyself ihat the financial statements of the charity are not required to be audited under Part 16 of
the 21J]6 Act and are eligible for independent examinatlon. I report in respect of my examination of the charlty's
financlal statements carried out under section 145 of the Charities Act 2011 Ithe 2011 Artl. In carrying out my
examination I have followed all the applicable Directions given by the Charity Commission under section 14515llb)
ofthe 2011 Act.
Independent examlner's statemmt
Since the charity's gross income exceeded £250,Q)O your examiner must be a member of a body listed in section
145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the
Instltute of Chartered Accountants In England and Wales, which 15 one of the listed bodles.
I have completed my examinatlon. I confirm that no matters have come to my attertion in connectlon wlth the
examlnatlon 8iving me cause to belleve that in any materlal respect:
accounting records were not kept in respect of the charlty as required by Section 386 of the 2006 Act: or
the flnancial statements do not accord with those records,. or
the financlal statements do not comply wlth the accountlng requirements of sectlon 396 of the 2006 Act
other than any requlrement that the account5 gfve a true and fair vlew whlch is not a matter considered as
part of an independent examination,. or
the financial statements have not been prepared In accordance with the methods and prlnciples of the
Statement of Recommended Practice for accounting and reporting by charities applicable to charities
preparing their accounts In accordance with the Flnanclal Reportlng Standard appllcable in the UK and
Republic of Ireland IFRS 1021.
I have no concerns and have mme across no other matters in connection with the examination to vthich attentlon
should be drawn In this report in order to enable a proper understandin8 of the financial statement5 to be
reached.
TC Group
Vlvlan House
Newham Road
Truro
Cornwall
TRI 20P
United Kin8dom
16-

PENDEEN COMMUNITY HERITAGE
srATEMENT OF FINANCIAL ACTIVITIES
INCWDING INCOME AND EXPENDITURE AccouKr
FOR THE YEAR ENDED 31 MARCH 2025
Unrestrlcted Restrfcted
funds
funds
2025
2025
Totsl Unrestrlrted Restrfrted
nds
funds
2024
2024
Totsl
2025
2024
Notes
Income from:
Donations and legacies
Charitable attivities
Investments
64.782
584,316
3.893
198,449
263,231
584.316
3.893
51,965
559,741
2,451
85,616
137,581
559.741
2,451
Total Income
652.991
198,449
851,440
614,157
85,616
699,773
EXpendI￿re on:
Raislng fund5
Charitable activities
Other expenditu
5,000
665.648
1,086
s,￿0
666,223
1,086
748,949
2,173
751.122
575
13
Totsl expendltufe
753,949
2.173
756.122
671.734
575
672,309
Net Incomellexpendlturel
1100,958)
196.276
95,318
(57,577)
85,041
27,464
Transfer5 between
funds
15751
575
Net movement In
funds
io
1100,958)
196.276
95.318
158,152)
85.616
27,464
Recondllatlon (rf funds:
Fund balances at l Aprll 2024
305,418
90.803
396,221
363,570
5,187
368,757
Fund balan￿$ at 31 Marth
2025
204.460
287.079
491,539
305.418
90,803
396.221
The statement of flnanclal artivtties includes all gains and losses recognlsed In the year. All Income and
expenditu￿ derive from contlnulng activitles.
17-

PENDEEN COMMUNITY HERITAGE
BAiANCE SHEEr
ASAT31 MARCH 2025
2025
2024
Note5
Flxed •ssets
Tanglble assets
Investments
15
16
327,439
io
11,222
io
327,449
11,232
Current a$5ets
Stocks
Oebtors
Cash at bank and in hand
17
18
901
130,658
56,489
1,292
181,446
233.979
188.048
416,717
CredltOTS: amounts fallln8 due wlthln one
vear
19
{23.9581
13L7281
Net current assets
164.090
384,989
Totsl assets less ￿TTent Ilabllltles
491,539
396,221
Net assets exdudlng penslon Ilablllty
491.539
396,221
The funds ol the tharlty
Restricted income funds
Unrestricted fund5
21
287.079
204,460
90,803
305,418
491,539
396.221
The company is entitled to the exemption from the audit requirement contained In sectlon 477 of the Companies
Act 2006. for the year ended 31 March 2025.
The dlrertor5 acknowledge thelr responslbllltles for complyin8 With the requirements of the Companles Act 2006
wlth respect to accountln8 record5 and the preparatlon of financlal statements.
The member5 have not requlred the company to obtsln an audit of Its financial statements for the year In que5tlon
in accordance with section 476.
These flnancial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies re8lme.
18-

PENDEEN COMMUNITY HERITAGE
LANCE SHEET (CONTINUED)
ASAf31 MARCH 2025
The financlal statements were approved bythe trustees on.........
S Swarbrooke
Trustee
Company registration number 04202906 (England and Wales)
19-

PENDEEN COMMUNrrY HERITAGE
srATEMEKf OF CASH FLOW5
R?R ThIE YEAR EPIDED 31 MARCH 2025
2025
2024
Notes
Cash flows from operntlng actlvkles
Cash generated fromllabsorbed by)
operations
26
136,877
1119,435}
Investlng artlvltl•s
Purchase of tan8ible flxed assets
Investment income received
1318.2601
3.893
14991
2,451
Net cash (used In)/generated from
Investln8 actlvltles
1314,3671
1,952
Net Cash used In flnan¢ln8 actlvltles
Net dttrease In cash ond fash equlvalents
(177,4901
1117,4831
Cash and cash equivalents at beginning of year
233.979
351.462
Cash and cash equlvalonts at end of year
56,489
233,979
-20-

PENDEEN COMMUNITY HERITAGE
NOTES TO THE FINANCIAL STATEMEt4T5
R?R THE YEAR ENDED 31 MARCH 2025
Accountlng polldes
Charlty Informatlon
Pendeen Communty Herlta8e Is a prlvate company Ilmlted by guarantee incorporated In England and Wale5.
The reglstered O￿tCe is Count House Office, Pendeen. Penzance. Cornwall, TR19 7EW, England.
1.1 Accountlng conventlon
The financlal statements have been prepared in accordance wtth the charity's Igoverning documentl, the
Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" I"FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities Preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021" leffective l January 20191. The
charity15 a Publlc Benefit Entity as defined by FRS 102,
The financial statement5 are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial Statements are rounded to the nearest £.
The financial statements have been p￿Pared under the historical cost convention. The prlncipal accounting
pollcies adopted are set out below.
1.2 Golng concern
At the time of approving the financial statement5, the trustees have a reasonable expectatlon that the
charlty has adequate resources to continue in operatlonal ex15tence for the foreseeable future. Thus the
trustees continue to adopt the 8oin8 concern basis of accounting in preparing the financial statements.
A detailed explanatlon on the going concern status of the charlty is given In the Flnanclal Review sectlon of
the Trustees, Report.
1.3 Charltable fvnds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
De518nated funds are unrestrlcted funds that the charrty's trustees have eamiarked for a specific purpose,
and they are accounted for within the un￿$trItted funds on the balance sheet.
Restricted funds are subject to spetific conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial statements.
IA Income
Income is reco8nised when the charity is legally entitled to it after any performance conditions have been
met, the amounts can be measured reliably. and it Is probable that income will be recelved.
Cash donations are reco8nised on ￿ceIpt. Other donation5 are recognised once the charity has been
notlfled of the donation, unless performance conditions requlre deferral of the amount. Income tsx
recoverable in relation to donations recelved under Gift Aid or deeds of covenant Is recognised at the time
of the donation.
21-

PENDEEN COMMUNITY HERITAGE
NOTE5 TO THE FINANaAL STATEMENT5 (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng polldes
{Contlnuedl
Grnnt Income is recognised when entitlement to the funds arises - inclyding meetlng any performance-
related obllgations, receipt of the funds is consldered to be probable and the amount can be rellably
measured.
1.5 Expendlture
Expenditure is reco8nised once there 15 a legal or constructive obligation to transfer economic benefft to a
third party. it is probable that a transfer of economic beneffts will be required in settlement, and the amount
of the obli8aiion can be measured reliably.
Expendlture is classlfted by actlvity. The costs of each actlvlty are made up of the total of direct costs and
shared costs, including 5UPPOrt costs involved in undertaking each activity. Direct costs attrlbutable to a
single activity are allocated dirertly to that activity. Shared costs which contribute to more than one artivity
and support costs which are not attrlbutable to a single activity are apportioned between those actlvities on
ba515 consistent with the use of resources. Central staff costs are allocated on the basi5 of time spent. and
depreclation charge5 are allocated on the portion of the asset's use.
1.6 Thn8lble flxed assets
Tangible fixed assets are Inltlally measured at cost and subsequently measured at cost or valuatlon. net of
depreciation and any Impairrnent losses.
Depreciation is recognised so as to wrlte off the cost or valuation of assets less thelr resldual values over
thelr useful Ilve5 on the following bases:
Leasehold improvements
Fixtures and fittin85
Computers
Motor vehicles
Over the lease term
20% on c05t
33% on cost
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale
proceeds and the carrying value of the asset. and 15 reco8nlsed In the stotement of financlal activitle5.
1.7 Hxed asset Investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are
subsequently measured at fair value at each reportlng date. Changes In falr value zre recognlsed In net
ncome/lexpenditurel for the year. Transaction costs are expensed as incurred.
A subsidiary Is an entlty controlled by the charity. Control Is the power to govern the financlal and operatln8
pollcles of the entity so a5 to obtsin benefrts frorn Its actlvitles.
1.8 Impalrment of fixed assets
At each reporting end date, the charlty reviews the carrying amounts of Its tsngible assets to determlne
whether there Is any indication that those assets have Suffered an impalrment loss. If any such Indicatlon
exists. the recoverable amount of the asset is estimated in order to determine the extent of the impalrment
loss {if any).
-22-

PENDEEN COMMUNtTY HERITAGE
NOTES TO THE FINANaAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng pollcles
(Contlnuedl
1.9 Stocks
Stocks are stated at the lower of cost and estlmated selling price le55 Costs to complete and sell. Cost
comprises direct materials and. wheie applicable. direct labour costs and those overheads that have been
incurred in bringing the stocks to their present location and condttion. Items held for distributlon at no or
nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be
Incurred In marketlng, 5elllng and distflbutlon.
1.10 Cash and cash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call wlth banks. other short-terni liquld
Invertments wlth original maturltles of three months or less, and bank overdrafts. Bank overdrdfts are
shown within borrowin85 in cUr￿nt liabilities.
1.11 Flnanclal Instruments
The charlty has elerted to apply the prov15ions of Sectlon 11 'Baslc Flnanci?I Instruments. and Sertlon 12
'Other Flnancial Instruments Issues. of FRS 102 to all of its flnancial instruments.
Financlal instruments are recognised In the charty's balance sheet when the charEty become5 party to the
contractual provislons of the Instrument.
Finantial assets and liabilities are offset, with the net amounts p￿sented in the financial statements, when
there is a legally enforceable right to set off the reco8ni5ed amounts and there Is an Intention to settle on
net basis or to ￿alIse the asset and settle the liability simuttaneously.
Boslcflnanclal assets
Basic financial assets. which include #tErm6. cash and bank balances and loans from the trading subsidiary,
are initially measured at transaction price includln8 transartion costs and a￿ subsequently carrted at
amortised cost usin8 the effective interest method unless the arrangement constitutes a financin8
transactlon, where the transaction is measured at the present value of the future receipts dtscounted at a
market rate of Interest. Financial a$5ets classlfled as receivable wtthln one year are not amortlsed.
Baslcflnandal Ilqbllltles
Basic ftnanclal Ilabi1Stles, Includlng creditor5 are Inltlally recogni5ed at transattion prlce unless the
arranBement constitutes a financlng transartion. where the debt instrument Is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilltles classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortlsed cost, uslng the effectlve interest rdte method.
Trade creditors are obli8atlons to pay for goods or servlces that have been acqulred in the ordlnary course of
operations from suppliers. Amounts payable are classlfied a5 current liabiltties if payment is due within one
year or less. If not. they a￿ presented as non-current Ilabl1￿les. Trade C￿dItOrs are reco8nised initially at
transaction price and subsequently measured at amortised cost Using the effective interest method.
-23-

PENDEEN COMMUI4ITY HERJTAGE
NOTE5 TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng polldes
Icontlnued)
Derewnltlon ofllnandal Ilabllltles
Flnanclal Ilabllltles are dereco8nlsed when the charltrfs contractual obll8atlons explre or a￿ dlseharged or
cancelled.
1.12 Employee beneflts
The cosi of any unused holiday entitlement Is reco8ni5ed In the perlod in whlch the employee's serrflces a
recelved.
Tem)Ination beneffts are reco8nlsed Immedlately as an expense when the charity is demonstrabty
committed to terminate the employment of an employee or to provlde terminatlon benefrts.
1.13 Retlrement beneflts
Payments to deflned contrlbutlon retlrement benellt schemes are charged a5 an expense as they hll due.
Crftlcal •¢countlng estlmates and Judgements
In the appllcatlon of the charlty'5 accountln8 pollcies, the trustees are required to make Judgements,
estimates and assumptions about the carrying amount of assets and liabilities that a￿ not readi￿ apparent
from other sources. The estimates and associated assumptions a￿ based on historical experlence and other
factors that are considered to be relevart. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on80in8 basls. Revision5 to accountlng
estlmates are ￿Ognised in the period in which the estimate is ￿viSed where the revision affects On￿ that
perlod, or in the period of the revlsion and future periods where the revision affects both current and future
period5.
-24-

PENDEEN COMMUNITY HERITAGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH2025
Income from donatlons and legades
Unrostrlrted Restrlrted
funds
funds
2025
2025
Totsl Unrestrlrted Restrlrted
funds
lund5
2024
2024
Totsl
2025
2024
Donations and gifts
Grants
Membership fee5
62.846
62.846
198,449
1.936
47,325
3,035
1,605
47.325
88.651
1.605
198.449
85.616
1,936
64,782
198.449
263,231
51.965
85.616
137,581
Grants recelvable for core actlvltles
Cornwall Councll
Other
198,449
198,449
85,616
85,616
3,035
3,035
198,449
198.449
3,035
85.616
88,651
Income frnm charltable actlvltles
Unrestrlcted
funds
2025
Unrestrlcted
funds
2024
Slte herftage
Adm155ions
Miscellaneous income
Charitsble rental income
Site mana8ement fees
507.128
27.746
24.442
25,01
474,923
14.783
20,035
50,000
584,316
559,741
Income from Investments
Unrejtrkted Unrestrlrted
funds
funds
2025
2024
Interest receivable
3.893
2.451
-25-

PENDEEN COMMUNITY HERITAGE
NOTES TO THE FINANaAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Expendlture on ralsln8 fund5
Unrertrlrt•d Unrestrlcted
fvnds
fund5
2025
2024
FUndraI￿n8 and publlclty
Staff costs
5.000
S.CQO
Expendlture on chafltable actlvltle$
Slte herltage
2025
Educatlon
2025
Totsl Slte herltage Educatlon
2025
2024
2024
Total
2024
Dlrert costs
Staff costs
Services and utllities
cences and insurance
Project costs
Maintenance and
development
Other site costs
463.616
43,359
26,129
3.072
463,616
51.195
30.740
3.072
423.972
49.571
19,769
775
423,972
58.884
23,258
775
7.836
4.611
9.313
3.489
33,373
18,221
33.373
21.437
20,681
13,253
20.681
15.592
3,216
2,339
587,770
15,663
603.433
528,021
15,141
543,162
Share of support and governance costs (see nots 91
Support
142,835
Governance
4,854
142,835
4,854
119,093
3,968
119,093
3,968
735,459
15,663
751,122
651,082
15,141
666.223
Analysls by fund
Unrestrirted funds
RestrKted funds- general
733,286
2,173
15,663
748,949
2,173
650.507
575
15.141
665.648
575
735,459
15.663
751.122
651,082
15,141
666.223
Descrlptlon of charftable actlvltles
Site herita
Managing a heritage site and museum at Geevor Tin Mine. Pendeen in order to preserve the heritage of the
Site.
26-

PENDEEN COMMUNITY HERITAGE
NOTES TO THE FINANCIAL STATEMENT5 (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Descrlptlon of tharltable actlvltles
Icontlnuedl
Educati
Educating the publlc and advancing educatlon about the hlstory of the slte mlnln8 In Cornwall.
Support corts allocated to artlvltles
2025
2024
Staff costs
Depreciation
Services and utllltles
Irrecoverable VAT
Postage and statFonery
Advertising and marketing
Sundry expenses
Finance costs
Motor expenses
Governance costs
1,500
2,043
1,045
73,195
8,299
47,729
2,277
4,876
1,871
4,854
2,302
1,202
48.914
7,734
51,197
1.468
4,776
3,968
147.689
123,061
Analysed betwe•n:
Site heritage
147.689
123,061
10 Net movement In lunds
2025
2024
The net movement in fvnds is stated after charging/lcreditinEI:
Fees payable for the Independent examlnation of the charltv's financlal
statements
Depreciation of owned tangible fixed assets
4.780
2,043
3,915
2,302
11 Trustees
None of the trustees lor any persons connected with them) received any ￿M￿neratIOn or benefits from the
chority during the year.
-27-

PENDEEN COMMUNITY HERITAGE
NOTE5 TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
12 Employees
The avera8e monthty number of employees durlnB the year was:
2025
Number
2024
Number
Slte heritage
Education
21
22
Total
23
24
Employment costs
2025
2024
Wages and salarles
Social security costs
Other penslon c05tS
435,070
27,283
7,763
395.270
28.236
6,966
470,116
430,472
There We￿ no employees whose annual remuneration was more than £60,(X)O.
13 Other expendlture
Unrestrlrted Unrestrlcted
nds
funds
2025
2024
Bad debts
1,086
14 Tautlon
The charity is exempt from taxation on its activities because all Its income is applied for charitable purposes.
-28-

PENDEEN COMMU141TY HERITAGE
NOTES TO THE FIP4ANCIAL STATEMENTS ICONTINUEDJ
FOR fHE YEAR EAIDED 31 MARCH 2025
IS Tan￿ble flxed assets
iuwl#)Id Flxturw Comw•rs Moror¥ehkl•*
Cost
At l April 2024
Addltions
53.484
155.286
50,581
159.624
20.490
124,555
318,260
3.350
At 31 March 2025
208.770
210,205
20.490
3,350
442.815
Dopreclatlon and Impalmient
At l April 2024
Depreciation charged in the year
43,489
49,747
1.464
20,097
230
113,333
2,043
349
At 31 March 2025
43,489
51,211
20,327
349
115,376
Carrylng amount
At 31 March 2025
165.281
158,994
163
3,001
327.439
At 31 March 2024
9,995
834
393
11,222
16 Flxed asset Inv•stments
Other
Investments
Cost or valuatlon
At l April 2024 & 31 March 2025
io
Carrylns amount
At 31 March 2025
io
At 31 March 2024
io
2025
2024
Other Investments comprise:
Notes
Investment5 In subsldlarles
25
io
io
-29-

PENDEEN COMMUNITY HERITAGE
NOTES TO THE FINANaAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
17 Stocks
Z025
2024
Raw materlals and consumables
901
1,292
18 Debtors
2025
Z024
Amounts fallln8 due wlthln one year.
Trade debtors
Amounts owed by 5ub5idiary undertakin85
Other debtors
Prepayments and accrued income
6,384
9,926
3,639
110,709
6,078
7,719
3,907
163.742
130,658
181,446
19 Credltors: amounts fallln8 due wlthln one year
2025
2024
Other taxatlon and social securlty
Trade credltors
Other creditors
Accruals and deferred income
140
ii,iio
8.298
4,410
281
19,573
7,674
4,200
23.958
31,728
20 Retlrement beneflt schemes
2025
2024
Defined contrlbutlon schemes
Char8e to proflt or1055 In respert of defined contribution schemes
7,763
6,966
The charlty operates a defined contrlbutlon penslon scheme for all qualifying employee5. The assets of the
scheme are held separately from those of the charity in an independently administered fund.
30-

PENDEEN COMMUNITY HERITAGE
NOTE5 TO THE FINANCIAL STATEMEt4TS (CONTINUED)
FOR THE YEAR EAIDED 31 MARCH 2025
21 Restrfcted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specific conditions by donors as to how they may be used.
At l Aprll 2024
Incomln8
resources
Resources
expended
Transfers At 31 March
2025
Shared Prosperity Fund - Cafe
Mlner statue fund
Dance
Penwlth Landscape project
Outreach project
85,616
1,918
550
198,449
12.029}
282,036
1.918
550
1,838
737
1,819
900
19
11631
90.803
198.449
12.1731
287,079
Prevlous year:
At l Aprll 2023
Incomlng
resources
Resources
expended
Transfets At 31 Marth
2024
Shared Prosperlty Fund - Cafe
Miner statue fund
Dance
Penwith Landscape project
Outreach project
James Barber project
85,616
85,616
1,918
550
1,819
900
1.918
550
1,819
900
1575)
575
5,187
85.616
15751
57S
90,803
31

PENDEEN COMMUNITY HERITAGE
NOTE5 TO THE FINANaAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
21 Restrlrt•d funds
Icontlnuedl
Purposes of rnstrlcted fund$:
The Miner statue funds represent a grant towards the ongoing p￿servatIon and maintenance of the statue
at the entrance to the Geevor 51te.
The Tin Coast fund ￿p￿SentS funding received via the National Trust from the Coastal Communtties Fund
for various projects including the installatlon of frac11￿[e5 for a cycle hub centre and assoclated costs,
contributions towards signage and other works on site and other cultural projects.
The Shared Prosperlty Rural fund represents funding received to support a relmaginln8 and redevelopment
of Geevor Cafe. The cafe was not bultt to accommodate the much-increased nurnber of vi5ftors we currentlv
receive. We a￿ therefore finding innovative solutions to better accommodate increased visitor numbers and
have developed a solution.
Thls project focuses on 4 key objectlves:
Creation of a bespoke production kttchenltakeaway outlet and repurposln8 of old staff kltchen
Altering the existing cafe kFtchen and front of house footprint
Re-specification of existin8 kttchen equipment and toilet facilities
Installatlon of bespoke catering container
The other restrirted funds ￿present grants received for specific projerts for education, cultural and heritage
projerts.
22 Unresrrlcted funds
The unrestricted funds of the charlty comprise the unexpended balances of donatlons and grants which a
not subject to specific conditions by donors and grnntors a5 to how they may be used. These include
designated funds which have been set aslde out of Un￿$tri￿ed funds by the trustees for specFfic purposes.
At l Aprll 2024
Incomln8
resour¢•s
Resour¢e5
expended
Transfers At 31 Mar¢h
2025
Fixed asset reserve
Slte maintenance and
machlnery restoratlon
Engineerin8 restofdtion legacy
fund
General funds
11,232
13.939
25.171
172,357
46,201
1168,558)
50,000
11,902
109.927
1671
(753,8821
11,835
117,454
606.790
154,619
305,418
652,991
1753.9491
204,460
-32-

PENDEE14 COMMUNITY HERITAGE
NOTES TO ThE FINANCIAL STATEMEI4TS ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
22 Unrestrlrted fund$
Icontlnued)
Prevlous year:
At l Aprll 2023
Incomln£
resources
Resources
èxpended
Transfers At 31 March
2024
Fimed asset reserve
Site maintenance and
machlnery restoration
En8ineerin8 restoration legacy
fvnd
General fvnds
13.035
12.3031
500
11,232
129,654
42,703
172.357
17,002
203,879
15,1001
1664,3311
11,902
109,927
614.157
143,778)
363,570
614,157
1671,7341
{5751
305,418
The unrestrlcted fund. less fixed a55ets, represent the free funds of the charlty, whlch are not deslgnated for
particular purposes.
Purposes of des18nated funds:
Flxed asset reserve - has been set vp to assist in identtfyin8 those funds which are not free funds. It
represents the net book value of tangible ftxed a55et5.
stte maintenance and machinery restoration
has been created to set aslde fund5 earmarked for
improvements to the slte and for the restoration and preservation of histori￿1 mining machlnery.
A balance of £50.000 is carried forward on this fund at the end of the year.
23 Analy$ls of net assets between fvnds
Unrestrlrted
fund$
2025
Restrlcted
fund5
2025
Total
2025
At 31 March 2025:
Tangible assets
Investments
Current a$5ets/lliabilFties1
25,171
io
179,279
302,268
327,439
io
164.090
115.189}
204.460
287,079
491.539
33-

PENDEEN COMMUNITY MERITAGE
NOTE5 TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
23 Anal￿1$ of n•t assets betwe•n funds
Icontlnued)
Unrestrlcted
funds
2024
Restrlcted
funds
2024
Totsl
2024
At 31 Mar¢h 2024:
Tanglble assets
Investments
Current assetsllllabilltiesl
11,222
io
294.186
11,222
io
384,989
90,803
305.418
90,803
396,221
24 Related party trnnsartlon5
There were no d15closable related party transaction5 during the year12024- none). the charity having taken
the exemptlon from d15cIosin8 tran5aCtion5 Wtth wholty owned subsidiaries wtthln the 8fOUP.
25 Suwdlarles
These flnanclal statements a￿ separate charity financial statements for Pendeen Communty Herltage.
Consolidated account5 are not prepared as the charity's income does not exceed the threshold at which
consolidated accounts are required.
Detalls of the charity'5 subsldlarie5 at 31 March 2025 are as follows-
Name of undertaklng
Reglrtered
offlce
Naturn of buslness
Class ol
shares held
% Held
Dlrert Irmllrvrt
Geevor Tradin8 Limited
United Kingdom Operatlon of shop at Geevor Ordinary
Tln Mine
100.00

PENDEEN COMMUNITY HERITAGE
NOTES TO THE FINANaAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
26 Cash g•nernted from operatlon$
2025
2024
Surplus for the year
95,318
27,464
Adjustments for:
Investment income ￿¢0￿niSed in statement of financial activities
Depreciation and impairment of tan8ible fixed a55ets
(3.8931
2,043
12,4511
2,302
Movements in working capital=
Decrease in stocks
Decrease/lincrease} in debtors
(Decreaselllncrease in credltors
391
50,788
17,7701
1156,1161
8,618
Cash 8enerated froml(absorbed byl operdtlons
136,877
1119,435)
27 Analysls of change5 In net funds
The charity had no material debt during the year.
-35-