Registered number: 03784507 Charrty number: 1111029 Combe Mill SoGi•ty UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Pr•pared By: Andrew A Adams and Co Ltd Chartered Certified Accountants Cherry House Pond Hill Stonésfield. Wllney Oxfordshlre OX29 8PZ *AEA2L8¢. 3010812025 COMPANIES HOUSE A07
Combe Mlll Society FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES P Hawlin - resigned 27 December 2024 A Simmons P Trowles C Stone- appointed 9 May 2024 M Gruber W Fosl&r- f•signed S September 2024 N Evans REGISTERED OFFICE 81enheim Palace Sawmills Long Hanborough Oxfordshir• OX29 8ET COMPANY NUM8ER 03784507 CHARITY NUMBER 1111029 ACCOUNTANTS Andrew A Adams and Co Ltd Chartered Certifièd Accounlants Cherry House Pond Hill Slonesfield. Witney Oxlord5hi OX29 8PZ page 1
Combe Mill Society ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 CONTENTS Page Report of the Trustees Independent Examiner's Stslernenl Statement of Financial Activities 10 Balance Sheet 11 Notes lo th• Aceounls 121015 Detailed Stalemenl of Flnan¢ial Activities page 2
Combe Mill Society Report of the Directors for the year ended'31st March 2025 4 Combe Mil I From: l Aprll 2024 to: 31 March 2025 Charity name: Combe Mill Society Charlty registration number: 1111029 Company number: 03784507 l. Objective5 and activities Purpose The charity's objects {'Objects'l are specifically restricted to the following l. to advance the education of the public by the operation of Combe Mill at Blenheim Palace Sawmill. Combe, Witney, OX29 8ET, demonstratin8, recording preserving, practising and disseminatlng the whole range of skills in the construction, maintenance, operation and associated activities of water and steam-powered mills. along wlth items directly associated wlth Combe Mill, the Blenheim Estate and Oxfordshire. 2. to research, establish, restore, maintain and equip Combe Mill to demonstrate, improve and teach the design, construction, operation and use of water. and steam-powered mills for the purpose of the education of the public, together with the dissemination of the results of any research conducted and to carry out works for the improvement, development and promotion of Combe Mill. Main artivitles The Society's main activities are those included in the Society's Objects quoted verbatim above. Directors, confirmation with respert to publlc beneflt The directors confirm that to the best of their belief and knowledge the decisions that they have taken are in accordance wlth the Commission's guidance on public benefit. The chairman of any meeting of the directors is responsible for advising the meeting, as and when necessary. as to the need to conform to the Commission's guidance. Additlonal information Combe Mill Society (The Society) does not make 8rants or social investments as part of its charitable objectives. The Society has a total membership of approximately 100: of which half are active and, in a normal year, contribute to the maintenance and operation of Combe Mill and demonstrate the working machinery and the supporting craft skills to the visiting public. In addition, whenever practicable, visitors are encouraged to try their hands at the various skills, For example.. 11 On Steaming Sundays, working in the forge under one to one supervision with an experienced blacksmith, they can make a poker. Pa8e 3
Combe Mill Society Report of the Directors for the year ended 31st March 2025 4 Combe Mill 21 For a more in depth experience a half days blacksmithing experience is available.. again working with an experienced blacksmith. 31 Alternatively, visitors can try their hand at woodturnin8 whenever there is a competent wood turner present. 41 The Society has a small mechanical workshop. This allows visitors to see how Victorian workshops operated. Prior to undertaking any of these activities, visitors are given a safety briefing that includes the special rlsks associated wlth workin8 With heritage machinery and tools. The above activities require visitors to come to the Mill. Some Members take the Mill to potential vi51tor5 by giving talks on the history of the Mill to other community groups. Similar talks are given at the Mill when visitors are present. 2. Achievements and performance We had slx vislts from Community Groups and 24 School/University Vislts. A number of talks were given to local clubs and donations received in return. Our major activity has been in the field of STEM la nationwide initiative to awaken interest in Science. Technology, Engineering and Mathematics). The Society's aim is to open the minds of the young and their parents and guardians. The Mill continues to develop as a recognised leisure destination for the local population which helps the Trustees to deliver the Society's charitable objectives and at the same time provides revenue to sustain our activities. Addltional information The Society planned and dellvered eight steaming events during which all machinery was in operatior). These events attracted 1255 visitors. It opened for viewin8 on Wednesdays between April and October when another 392 visitors could see volunteers at work and talk to them about their activities. 3. Financial review General Over the year ending March 31st 2025 the Society had an excess of receipts over expenditure of £3,683 compared with an excess of £7,015 in 2024. The Society generates income from the sale of admission tickets, refreshments, activity experiences, retail and the hire of the riverside tea room. The balance in the Charity's bank current account at 315r March 2025 was £12,867. The reserves policy of the Trustees is to aim at a situation where the Society has reserves that will allow it to meet its core costs for one year. Page 4
Combe Mill Society Report of the Directors for the year ended 31st March 2025 4 Combe Mill The society's reserve fund will be required for future major machinery and building maintenance or replacement costs. It stood at £35,000.00 at the end of the year. It is the Trustees policy that on-going maintenance is met from current income. Expendlture Governance- Upkeep Charitable Activities 2024125 2023124 £9.655.05 £8.242.01 £9,509.96 £9,215.57 Source of funds: The costs of operating the Mill as an industrial museum in accordance with the Society's Article of Association is funded through admission charges and the sale of souvenirs and refreshments, together with the hire of the tea room for meetings and events. This season our income f rom charitable and f undraising activities was £36,757. We received no grants during this financial year, Generous donations from anonymous donors, Members and Friends of Combe Mill Society, amounting to £2,131 have been another source of funding. Gift Aid was recoverable on the majority of the funds received by donations. Investment Pollry: The Society'5 only investments consist of bank deposits and no special social, environmental or ethical consideration arise. Additlonal Information: Princlpal risks facing the charity: The Society's basic business model remains critically dependant on an adequate supply of suitably qualif led volunteers. Historically this need has been mainly supplied by retired person5 who have had the necessary technical trainin8 during their employment. The directors are aware that this is a diminishing resource due to the changing structure of industry. The Society now seek5 volunteers with appropriate basic skills and encourages them to become members. The Society provides them with the relevant specialised training. The directors are mindful of the need to ensure financial probity. The Society's Articles require that directors must prepare accounts for each financial year as required by the Companies Acts. The Directors keep accountlng records as required by the relevant Companies Act and believe that the accounts: Show a true and fair view. Page 5
Combe Mill Society Report of the Directors for the year ended 31st March 2025 4 Combe Mill Follow accounting standards issued or adopted by the Accounting Standards Board or its successors and Adhere to the recommendations of applicable Statements of Recommended Practice In order to meet these requirements, the directors prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of its incoming re50urce5 and application of resources of the company for that period. The directors are responsible for maintaining satlsfactory systems of internal control and keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the appropriate Companies Act and guidance issued by Companies House. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. So far as the directors are aware. there is no relevant information of which the accountants, who act as Independent Examiners. are unaware. The directors have taken all the steps that they ought to have taken in order to make themselves aware of any relevant audit Informatlon and to establlsh that the accountants are aware of that Information. 4. Strurture, governance and management Company status.. The Society is a charitable company limited by guarantee and its governing document takes the form of Articles of Association. Appolntment of dlrectors.. The Article5 of Association dated 30 July 20218overn the appointment of directors. No director is permitted to appoint an alternate director or anyone to act on his or her behalf at meetings of the directors. Co.operatlon wlth other ¢haritles'. A number of charities operate on land that Is adjacent to the Society's boundaries. It is the policy of the directors to co-operate with these charities insofar as the Society's Objects permit. 5. Reference and admlnlstratlve details Charity name Combe Mill Society Other name the charity uses none Registered charity number 1111029 Charity's principal address Combe Mill, 81enheim Palace Sawmill, Combe, Oxfordshire, OX29 8ET Pa8e 6
Combe Mill Society Report of the Directors for the year ended 31st March 2025 4 Combe Mill Directors during period l Apfll 2024 and 31 March 2025 Dlre¢tor name Oftlce111 anvl N R Evan5 Director Dales elected rf not for whole year M Gruber Director P Hawtin Director Resigned 27 December 2024 A G Simmons Director W E Foster Director Resigned 5 September 2024 Appointed 9 May 2024 C R Stone Director & Treasurer P J Trowles Director & Charity Secretarv Name of directors holding title to property belonging to the charity None 6. Fund5 held a5 CU5todlan dlrectors on behalf of others None Exemptions from disclosure None 7. Declaratlons The company has taken advantage of the small companies, exemption in preparing the report above. The directors declare that they have approved the Directors, Report above and have authorised the chairman to sign it. Signed on behalf of the Socletys Dlrectors Chairman Dated .( oQ(Ig Page 7
Combe Mill Society INDEPENDENT EXAMINER'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COMBE MILL SOCIETr' I report on the accounts of Ihe company for the year ended 31 March 2025 . RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The Iruslees (who are also the direclois ol the company for the purposes of company lawl are responslble for the preparation of (he accounts. The trttslees consider ihal an audit is not required for this yeaf under section 144{21 of the Charilies Act 2011 (the 2011 Acl) and thal an independent examination is needed. Having sausfied myself that the charity Is nol subject to an audit under company law and is eligible for independent examination. it is my responsibility to.. examine the accounts under section 145 of the 2011 Act.. follow the procedures18id down in the general Directions given by Ihe Charity Commission under section 145{Sllbl of the 2011 Act, and slate whether particular matters have come lo my attention. BASIS OF INDEPENDENT EXAMINERS STATEMENT My examination was carried out in accordance with general Directions given by thè Charity Commisslon. An examination includes 8 review of the accounting reGords kept by the charity and a comparison of Ihe accounts presènted with Ihosg records. 1181s0 includes consideration of any unusual items or disclosures In the accounts, and seeking explanations from you as trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be r¢qulrgd In an audit. and ¢onsequenlly no oplnlon 18 given as lo wh¢thor Iho accounts prèsent 8 rue and fair vlew" and thè report is Ilmiled to those matters set out in the slalemenl below. INDEPENDENT EXAMINERS STATEMENT In connection with my examination, no matter has come lo my attention-. (I I which gives me reasonable Cause lo believe that in any material respect the requiiemenls.. lo keep accounllng records in accordance with section 386 of the Companies Act 2006., and lo prepa a¢¢ounl$ whioh a¢rAird wilh the a¢¢ounling records, Comply wllh the accounting requirements of section 396 of th8 Companies Act 2006 and with the methods and principles of the Slalement of Recommended Pracllce: Accounting and Reporting by Charities hav8 not been mel., or {21 lo which. in my oplnion, attention should be drawn In order lo enable a proper understanding of the accounts lo be reached Date.. Andrew A Adams and Co Lld Chartered Certffied Accountants page 8
Combe Mill Society INDEPENDENT EXAMINER'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 Chery House Pond Hill Slonesfield, Wilney Oxfordshire OX29 8PZ page 9
Combe Mill Society Statement of Flnanclal Actlvltles for the yoar •nded 31 March 2025 2025 2024 Unrestrlcted Restricted funds funds Total Total Incom• Income from generated funds Donations and legacies Income from Investments Income from charitable activities Total Incorno and endowmenls Expenses Cosls of generallng funds Expendiluie on Raised funds Expenditure on Charitable activities Totsl Expenses Net galns on Inv•$tm•nts Net In¢omo 1,031 682 39,215 40,928 1,031 834 682 366 39,215 41.966 40.928 43. 166 10,532 28.448 38.980 10,532 10,849 28.448 28,205 38.980 39,054 1.948 1.948 4,112 Galn¥llloss•8) on rovaluatlon of flxed aB8•6Is Net mov•rn•nt In fund8: Net income for the year Total lunds brought forward Net funds carried forward 1.948 54,765 56,713 1.948 4.112 54,765 50,653 56,713 54, 765 This sl8lern9nl of finanGial a¢livitie$ in¢lude$ all 9ain$ and losses recognised In th8 yéar. All incom& and èxpenditure derlve from continuing a¢livilio$ page 10
Combe Mill So¢iety BALANCE SHEET AT 31 MARCH 202S 2025 2024 Notes FIXED ASSETS Tangible assets CURRENT ASSETS Stock Cash al bank and in hand 8,154 8,990 1,400 48.344 49.744 1,185 2.000 44.920 46.920 1, 745 CREDITORS: Amount$ falling due within one year NET CLIRRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 48.559 56.713 45, 775 54, 765 CAPITAL AND RESERVES Unrestrlcted funds General fund 56.713 56.713 54, 765 54, 765 For the year ending 31 March 2025 the company was enlilled lo exemption under section 477 of the Companies Act 2006 relating lo small companies. The members have not required the company to oblaln an audit in accordance with section 476 01 Ihe CompanSes AGt 2006. The directors acknowledge their responsibililies for complying Wlth the requirements of the Act with respect lo accounting rerdS and the preparation of a¢¢ounls. These accounts have been prepared in accordance with the provisions applicable lo companies subject to the small companies regime. Approved by th• board of trustees on ..... .. onth b hall by . and 81gn•d P Trowles Truslg9 page 11
Combe Mill Society NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 1. ACCOUNTING POLICIES la. 8asis Of Accounting The accounts have been prepared under the historical cost convention. The accounls have been prepaied in accordance with FRS102 . The Financial Reporting Standard applicable in the UK and Republic of Ire18nd and the Companles Acl 2006 and the requlremenls of the Slatem8nl of Recommend Pr8clice, Accounting and Reporting by Charilies. 1 b. In¢omlng Rosourc•s All incorning resources are included on the Slatement of Flnancial Activities when th8 charity is legally entiled to the Income and the amount can be quantSfied wilh reasonable accuracy. 1c. Resourcfjs Expended Expenditure is accounted for on an accruals basis and has been dassified under headings that aggregale all cost related lo the cat8gory. Where costs cannot be directly allributed to particular headings they have been allocated to activities on a basis consislenl with the use of resources. 1d. Allocatlon And Apportlonm•nt Of Costs All ¢osl$ relale lo the single aclivily of the charitable company and are recognised accoTding1y. le. Fund A¢counting Unrestricted funds can b? used in accordance with Ihe charllablè obieclivès al th& discrotion of the trustees. Re81rictèd lunds can only be used for partlcular restricted purposes within the oblecls of the char41y. Restrictions arlse wh8n specified by tha donor or when funds are r81s8d for partlcular reslrlcled purposes. Designated funds arg funds sel aside by the Iruslees out of unrestricted general funds for the specific future purposes or projects. 1f. Depreclatlon Depreci811on has been provided at th8 followlng rates in order lo wnle off the assets over their esllmated usolul Ilves. Plant and Machinery reducing balance 20% page 12
Cornbe Mill Society lg. Stocks Stocks are slated al the lower of cost and estimated selling pricè less costs lo complete and sell (net realisable value). Costs. which comprise direct production costs, are based on the method most appropriate lo the type of inventory class, but usually on a firsl-in-firsl-out basis. Overheads are charged to profil or loss as incurred. Net realisable value is b89ed on the estimated selling price less any estimated completion or selling costs. When stocks are sold. the carying amount of those stocks is re¢ognised as an expense in the period in which the related revenue is re¢ogni$ed. The amount of any wrlte-down ol stocks to nel realisable value and all losses of stocks are re¢ogni$ed ag an expense in the period in which the wrile-down or loss occurs. The amount ol any reversal of any write-down ol stocks is re¢ognised as a reduction in the amount of stocks recognised as an expense in the penod in which the reversal occurs. 2. EMPLOYEES 2025 No. 2024 No. Average number of employees 3. TANGIBLE FIXED ASSETS Plant and Machlnery Total Cost Al 1 April 2024 Addillons Al 31 March 2025 Depreclatlon At 1 April 2024 For the year Al 31 Mafch 2025 Not Book Amounls 36,181 1,196 37,377 38,181 1.196 37.377 27.191 2,032 29,223 27,191 2.032 29,223 Al 31 March 2025 8,154 8,154 8,990 At 31 March 2024 8,990 4. STOCK 2025 2024 Stock comprises.. Stock 1.400 1,400 2,000 2,000 page 13
Combe Mlll Soclety 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Olher Creditors 1.185 1.185 1. 145 1. 145 6. UMITED BY GUARANTEE The company is limited by guarantee and does not have a share capital. Each membef gives a guarantée lo contribute a Sum not exceeding £0. to the company should It b8 wound up. 7. UNRESTRICTED FUNDS Brought Incomlng Outgolng Transf•r8 Carrled forward resources rosources forward Gèneral fund 54,765 54,765 40,927 40,927 138,979 38,979 56.713 56.713 page 14
Combe Mlll So¢lety Expenses for the yoar ended 31 March 2025 2025 2024 Expenses Costs of generatln9 lunds Costs Of Generating Voluntary Ineom• Purchases Shop supplies 2,281 8.251 10,532 3,655 7, 194 10.849 10,532 10,849 Charltable Acllvltl•s Insurance Forge Heal. light and telephone Boiler running costs Mainl•nan¢e Accountancy fees, Administration Subscriptions Bank tharges Sundry expen$e$ Depreciats'on 1.524 1,359 6,061 1,788 5,631 1,185 7,357 576 888 47 2,032 28,448 2,151 1,603 6,638 1,978 5,432 1, 158 6,022 439. 590 2,250 28,205 38,980 39,054 page 15