Registered number: 05743618
Charity number: 1113837
ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Armstrongwatson,
Accountants, Business & Financial Advisers

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
CONTENTS
Page
Reference and Administrative Detalls of the Company. its Trustees and Advlsers
Trustees. Report
Independent Examlner's Report
Statement of Flnancial Activitie8
Balance Sheet
10-11
Notes to the Flnancial Statements
12-26

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
Mr P Grove, Trustee
Mr S Hemm, Trustee
Mr R Johnson, Trustee
Mr D White, Trustee (resigned 21 March 2024)
Mr S J Round, Trustee
Mr l Macpherson (appointed 8 October 2024)
Company registered
number
05743618
Charlty registered
number
1113837
Registered office
Eskdale Mill
Boot
Holmrook
CA19 1TG
Accountants
Armstrong Watson LLP
Carlelon House
136 Gray Street
Workington
Cumbria
CA14 2LU
Page 1

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the financial statements of the Company for the year 1
January 2024 to 31 December 2024. The Annual Report serves the purposes of both a Trustees, report and a
directors, report under company law. The Trustees confirm that the Annual Report and financial statements of
Ihe charitable company comply with the currenl statutory requirements, the requirements of the charitable
company's governing document and the provisions of the Statement of Recommended Practice (SORP)
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland {FRS102) (effective 1 January 2019).
Since Ihe Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report
required of medium and large companies under the Companies Act 2006 (Stralegic Report and Directors,
Report) Regulations 2013 has been omitted.
Objectlves and actlvlties
a. Prlnclpal objectlves
The principal objects of Eskdale Mill & Heritage Trust {"the Trust") are the preservation and development, for Ihe
public benefit, of the 16th century Eskdale Water Corn Mill at Bool. The Mill being of historic 2nd archilectural
interest and to advance the education of the public in the history, heritage, geography and geology of Eskdale, so
as to increase the underslanding of the built and natural environment.
In accordance with section 17 (5) Charities Act 2011, in exercising their powers and duties, the trustees have
regard to the Charily Commission's guidance on the public benefit objective.
b. Operations
4790 visitors visited the Mill in 2024, only 760/0 of the budget target. Where possible the Mill opened for five days
per week, usually Sunday to Thursday. Traditionally Friday and Saturday are quieter days in Eskdale. In total,
the Mill was open for 158 days.
Admission prices were increased from £5 (£5.50 with GA donation) to £7 with the introduclion of an 'Annual
Pass, for all paying adults. Children, 16 years and under, were given free admission for the first time.
Reviews from the public continued to be exlremely positive with 117 reviews of Tripadvisor with a 4.5 15 rating
resulting in receipt of the 'Traveller's Choice Award,. More significant are the 180 reviews on Google still with a
4.815 rating. Google is now the "go to" review plafform with the Mill being the number 1 attraction in Bootl
Links have been established with Wilderness Travel who run tours around the Lake District for visitors from the
USA. We have become one of their destinations on a number of their itineraries.
During the year 11 core volunteers and local community groups have provided over 1591 volunteer hours in
support of the Mill.
The Trustees acknowledge the value of this hard work which is integral to the successful operation of the Mill.
The Mill could not have performed as well as it did without this volunteer input. The volunteers provided wide-
ranging support including gardeningllandscaping, building conservation work, practical mainlenance (indoors
and outdoors), management and maintenance of the hydro system, and of course. visitor support from the initial
welcome to running reception and by giving talks and demonstrations. The outstanding reviews received from
visitors are testament to the excellent service they delivered. As a thank-you and in acknowledgement of their
much-valued input, an enjoyable walk was organised in Eskdale to celebrate the culmination of the year finishing
with refreshments and the Millwrighting talk at the AGM.
National Mills Weekend in May always provides an opportunity to draw in extra interest at the mill. Family friendly
meadow activities provided help to survey and record plants and wildlife and the naturalisation of the meadow
Page 2

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Objectives and activities (contlnued)
following the Tentergarth development. Whitehaven Academy outdoor education groups continue to offer
practical help with a range of conservation tasks in the meadow each term.
Promotional and sales stalls were again taken at the Gosforth and Eskdale Shows, which generated a good
degree of interest.
The Lakeland 100 Fell Race once again used the Mill as a checkpoint In July and generated a welcome donation
to the Trust funds.
At the end of the year, Ihe Mill had 558 followers on Facebook. 721 on X and 153 on Instagram representing an
increase of roughly 20°/0 over 2023 figures.
c. Strategies for achieving objectives
The strategy for achieving the objectives was to maximise the number of visitors from the public. They would
learn about the hislory, heritage, and the built and natural environment during their visit to the mill facilitated by
informed guides and by following the award-winning interpretation displays in each of the rooms. The aim was to
cover the operating costs and produce income lo be set aside as a reserve. In addition to the admission income,
plans were made to increase the income through the shop and via gift aid.
The areas of expenditure were reviewed to see where savings may be possible.
d. Actlvltles undertaken to achleve objectives
In order to improve income from admissions a new pricing scheme was agreed. Admissions were increased to
£7 per adult {from £5 or £5.50 depending on whelher Gift Aid was given). The Trustees were concerned that the
continuing cost-of-living pressures may have a negative impact on visitor numbers, so il was decided to admit
children for free to encourage family visits. The Gift Aid arrangement was also altered to take advantage of the
option of giving 12 months free return for visitors. This simplified the cost structure as everyone would pay Ihe
same amount, and it was expected that it would encourage more visitors to Gift Aid their visit as there was no
extra cost involved. Membership fees were always a multiple of the admission fee, so they were increased pro
rala to the new admission cost. It was agreed that members should also be offered a 100/9 discount on shop
sales to compensate for all visitors being offered free return entry.
The marketing programme was enhanced to extend our reach to a wider demographic by engaging a social
media marketing company to regularly post content on the main platforms.. Facebook. X and Instagfam.
It was agreed that the shop should be reorganised in order to boost sales. The two large A frame interpretive
panels were dismantled and the panels hung on the walls. This provided a much better space to display a range
of shop ilems, such as Cumbrian stoneground flours, branded items and greeting cards. It was planned to
include refreshment sales in the shop, namely ice-cream and hot and cold drinks. Ice cream sales commenced
in July with other refreshments sales postponed until April 2025.
The operation of the shop was stream-lined by introduction of a point-of-sale till to allow sales to be recorded
quickly and speed up customer processing. The Customer Relationship Management software in the till would
provide a detailed analysis of sales. The recording of customer details for Gift Aid via the till meant the
elimination of the hand-written gift aid slips and the manual transfer of the information into a spreadsheet for
submission to HMRC. This meant that gift aid claims could be made. and monies received during Ihe year. Xero
financial management software was purchased so that the management accounts could be more easily
produced in a limely manner during the year. These ilems all added cost to the bank charges cost centre, so it
was important to mitigate these increases. This was planned by moving the Trust's bank account to the Coop
Bank (where there are no bank charges for charities) and by negotiating much better rates for bank card
Page 3

ESKDALE MILL AND HERITAGE TRUST
{A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Objectives and actlvltles (contlnued)
transactions and card reader rental by moving to a new provider.
The website was refreshed to make it more easily accessible and coherent, following advice provided through
Cumbria CVS.
One of the drivers for the increase in admission fee was Ihe availability of the reclaimed Tentergarth area for
people to visit. The project was compleled for Ilie slarl of the visitor season wlth the installation of pathways, the
wildlife pond, heritage fruit tree planting and interprelation boards to extend the education of the public.
The funding for the Tentergarth Project was coming to an end in March so it was recognised that further funding
would be required during the year lo Continue to provide travel expenses for volunteers working at the mill. In
addition, other funding was sought to help cover ongoing costs.
The income from the Feed-in-Tariff from hydro electricity generation was maximised through a continuing
preventative maintenance programme and also by reacting to and resolving developing problems.
Work to preserve the fabric of the building was planned as it was note(f thal the main support beam in the
bakehouse was rotten at each end and needed replacement.
The 5-yearly statutory inspection of the electrical installation and any remedial repairs was required during the
year.
Approaches were made to other local businesses to explore how we may be able to work together for our
common benefit in attracting more visitors to our sites.
Achievements and performance
a. Main achievements of the Company
The number of visitors was well below the target (only 76 % ). The shortfall was constant throughout the year. As
a result, this meant that other expenditure had to be limited. There was no money to set aside as a reserve.
The changes lo the admission costs, the Gift Aid arrangement and the shop improvements were successful in
that they resulled in the following increases in income per person compared to 2023 of 190/0, 310/0 and 70 % for
admission. Gift Aid and shop sales respectively.
Ice-cream sales were successfully introduced during the year (contributing £358 to shop profit). The freezer was
provided by the supplier who also restocked when required.
The provision of hot and cold drinks and snacks was deferred until the following year as overall income was
below plan and expenditure was needed to purchase the equipment.
The introduclion of the point-of-sale till and SOf￿are transformed the reception and shop operations and
provided easy analysis of performance throughout the year. It was particularly important as the Gift Aid recording
management functionality allowed the gift aid to be collected during Ihe same calendar year, something that has
not previously been possible. In total almost £4700 was received during the year.
The extra payments for the till and software and the management accounts software were offset by the
elimination of charges for the bank account and by negotiation of favourable term for the card reader and
transactions.
The Tentergarth Project was completed on time and budget, and all the monies were released by the funders on
receipt of our reports. This area has provided a valuable extension to the visitor experience in terms of learning,
Page 4

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and performance (continued)
enjoyment and value for money. The pond is particularly impressive, and the habitat will continue to develop and
attract even more wildlife. It is planned that the area will be used to host music and other performance events in
the future.
Part of the funding for the Tentergarth had provided travel expenses for volunteers coming to the mill. The
funding ended at the end of March and as il had not been possible to obtain replacement funding the decision
was taken to reduce the mileage rate paid to volunteers to one third of the previous amount.
Eventually, from 1 st May, £4000 funding, spread over 2 years, was secured for volunleer expenses (but not
travel). During the year the funding received was £4000, over years, for volunteers (from South Copeland
GDF Community Partnership), £500 from Lake District Eslates for machinery repair and a bequest of £1500
from Joy Hutchins for the restoralion of the bakehouse. In addition, we will be able to benefit from mill repair
work carried out through the Millwright Apprenticeship Scheme being run through Heron Mill and funded by the
National Heritage Lottery Fund.
Dialogue continued with the Ravenglass and Eskdale Railway about joint working on events. but nothing came to
fruition. The Trust also began exploring partnership opportunities with the Beacon Museum in Whitehaven and
Florence Mine. These discussions are continuing.
We also made an approach to the National Trust to explore whether they may be able to help safeguard the
future of the mill in view of the limited resources available to the Trust. The local Estate Manager had left so any
discussions were deferred until 2024, after the appointment of a new Manager.
Hydro electricity generation was at a record level for the year at 8700kWh which in turn produced a record
income for the Feed-in-Tariff of almost £6800. There was preventative maintenance carried out to replace the
deterioraling flexible coupling and reactive maintenance to identify and then correct a fault causing intermittent
tripping of the control system. Other repairs that were required were unjamming the control sluice, stopping the
launder catching the wheel and getting a fractured chain link repaired. Unfortunately, there was a complete chain
failure in November, causing a loss of 2 months generalion. The cause of the repeated chain failures is the
main priority for resolution and the chain has been sent lo Ihe supplier for analysis. Huge thanks are again due to
Andy Feaver, our consultant engineer who travelled to the mill to carry out the flexible coupling change and has
worked tirelessly with Renold (the chain supplier) to push for analysis of the chain failures and search for a
solution.
The main periods of lost generation were 2 weeks due to the tripping fault, a month for the fractured chain link
and two months for the broken chain.
There has been another complaint from a neighbour about noise from the hydrowheel. The Council
Environmental Health Officer has commissioned a noise survey to be carried out once the wheel becomes
operational again.
b. Plans for the futur•
It's clear that at current levels the 'trading' income of the Charity (admissions and shop sales) is not enough to
cover expenses. The Trust will continue to drive down costs by scrutinising expenditure and cutting out any
unnecessary expenditure.
The Trust will also continue to build relationships and closer cooperation with local businesses such as the
Ravenglass & Eskdale Railway, the Beacon, Florence Mine and Muncaster Castle for mutual benefit and to
encourage an increased footfall to all the organisations. Marketing reach will be extended to attract more visitors
to the mill e.g. using social media.
The items for sale in the shop will be extended to include more items produced by local artists and drinks and
Page 5

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and performance (continued)
snacks will be put on sale.
Specific events will be organised (musical and performance) to attract paying visitors to the site, making use of
the Tentergarth space.
There will be an ongoing requirement for repair and refurbishment of the buildings and machinery so external
ruiidirig will be sought to cover any large capltal costs. At present the bakehouse needs some work and within 2
years the lower wateNheel shaft will need replacing.
Financial revlew
a. Financlal revlew
The Trust continues to be a going concern, making a small loss of £465 in the year.
During the year the trust received total income of £56,942 {2023 £59,571) this was made up of Operating income
and non-operating income streams. Operating income streams.. Admission charges of £27,580 {2023 £24,286),
in addition, shop income was £6,309 {2023 £4,344) and donations and memberships totalled £1,156 (2023
£1,900). Sale of electricity generated by the hydro system created income of £6,779 (2023 £5,166). Gift aid
income was £5,013 (2023 £3,324).
Non-operating income was from the Tentergarth funding £3,210 (2023 £13,017).
It should be noted that Ihe Trust has significant reserves with a cash balance of £69,572 at the year end.
The Trust has done reasonably well to meet the day-to-day running costs of the Mill, whilst enhancing the
operation and despite the poor visitor numbers. but it has not yet been able to generate excess funds to put
aside for future capital costs and pay for employeeslcontractors to keep the Mill open an extra day or help in
other ways.
Structur•* governance and management
a. Governance and Management
The Trustees held seven management meetings to monitor and review the operation of the Trust and the Mill.
These meetings were held online to maximise attendance of Trustees and Advisors.
An Annual General Meeting was held on the 13th December 2024 at the King George IV Inn in Eskdale. This
meeting provided an opportunity for members to ask queslions of the Trustees and attendees were treated to
fascinating talk, by Stuart Hobbs from Heron Mill, about millwrighting.
There has been pressure on the organisation throughout the year as we have been operating with a limited
number of Trustees several of whom have changed throughout the year.
David White and Liz Bates both resigned as Trustees in March. Liz had only been appointed for a short time.
We welcomed Steven Round, firstly as an Advisor and then as a Trustee in May. Steven brought wide
knowledge and experience ranging from quanlity surveying, to insurance, to technical IT and videolaudio
systems. He also has a background in Safeguarding requirements. He has kindly taken on the role of Chair of
the Trust. lan MacPherson joined as a Trustee in October. lan brings with him a valuable experience of project
and operations management and leadership at a senior level in a large organisation.
In July we were very pleased to welcome Peter Frost-Pennington as a patron of the Trust.
Page 6

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management (continued)
The Trustees are, as ever, grateful to our hard-working volunteers for their contribution and dedication to the mill.
We would especially like to acknowledge the hard work and dedication of our Mill Manager, Kate Hughes, who is
central to the life and running of the Mill. As the public face of the mill, she plays a huge part in attracting our
visitors, liaising with our volunteers and trades people, undertaking essential maintenance, delivering projects,
managing funding applications and building a valuable neI￿Ork of relations with our local businesses and
attractions. Our Secretary and acting Treasurer, Steve Hemm is paramount in keeping the Mill and Trustees on
track and working towards our aims and missions. A mention is also due to our newest Trustee, lan MacPherson
who along with one of our Advisors, Molly Campion, is currently working on building and extending our
connections with other businesses and attractions in the wider area. We have already seen encouraging results
from their hard work, and we are very grateful for this. There are continuous challenges, in the tourism sector
within Cumbria and as a Trusl we constantly work to meet and adapt our methodology and models to embrace
these changes.
Stat•m•nt of Trustees, responslbllltles
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for
preparing the Trustees, Report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law,
the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair
view of the slate of affairs of the Company and of its incoming resources and application of resources, including
its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently-
observe the methods and principles of the Charities SORP (FRS 102).,
make judgments and accounting estimates thal are reasonable and prudent.,
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Company's transactions and disclose with reasonable accuracy at any time the financial position of the
Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They
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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Mr S Hemm
Date..
4£ log115
Page 7

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Independ8nt Examiner's Report to the Trustees of Eskdale Mlll and Heritage Trust {'the
Company.)
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31
December 2024.
Responsibillties and Basis of Report
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the
preparation of the accounls in accordance with the requirements of the Companies Act 2006 {'the 2006 Act,).
Having satisfied myself that the accounls of the Company are not required to be audited under Part 16 of the
2006 Act and are eligible for independent examination, I report in respect of my examination of the Companvs
accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination
I have followed the Directions given by the Charily Commission under section 145(51(b) of the 2011 Act.
Independent Examlner's Statement
I have completed rny examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause to believe..
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Acl,.
or
the accounts do not accord with those records., or
the accounts do not comply wilh the accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of
an independent examination., or
the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland {FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's
Trustees those matters l am required lo state to them in an Independent Examiner's Report and for no other
purpose. To the fullest extenl permitted by law, I do not accept or assume responsibility to anyone other than the
Company and the Companys Trustees as a body, for my work or for this report.
Signed..
Dated. 11.01.1
Steven Kirkbride FCA BFP ATT MA4T
Armstrong Watson LLP, Workington
Page 8

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Charitable activities
Investments
Other income
6,169
33,889
787
6,779
6,108
3,210
12,277
37,099
787
6,779
5,224
48,793
388
5.166
Total Income
47,624
9,318
56,942
59,571
Expenditure on:
Charltable activities
47,607
9,800
57,407
57,946
Total expendlture
47,607
9,800
57,407
57,946
Net Incomel(expenditur•)
Transfers be￿een funds
17
{482)
(176)
{465)
1,625
14
176
Net movement In funds
193
(658)
(465)
1,625
Reconcillatlon of funds:
Total funds brought forward
Net movement in funds
172,825
193
6.217
(658)
179,042
(465)
177,417
1,625
Total funds carried fO￿ard
173,018
5,559
178,577
179,042
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 12 to 26 form part of these financial statements.
Page 9

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
REGISTERED NUMBER: 05743618
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
Flxed assets
Heritage assets
108,153
108,153
108,153
108, 153
Current assets
Debtors
Cash at bank and in hand
12
2,940
69,572
10,213
63,111
72,512
73,324
Creditors.. amounts falling due within one
year
13
(2,088)
(2,435)
Net current assets
70,424
70,889
Total assets le8s current Ilablllti•s
178,577
179.042
Net assets excludlng pen8ion asset
178,577
179,042
Total net assets
178,577
179,042
Charity funds
Restricled funds
Unrestricted funds
14
5,559
173,018
6,217
172.825
14
Total funds
178,577
179,042
Page10

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
REGISTERED NUMBER: 05743618
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
Mr S Hemm
Date..
15loJJ25
The notes on pages 12 to 26 form part of these financial statements.
Page 11

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
General Information
Eskdale Mill and Heritage Trust is a private company limited by guarentee incorporated in England and
Wales. The registered office is Eskdale Mill, Boot, Holmrook, Cumbria. CA19 1TG.
Accounting pollcles
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102)
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 102) (effective 1 January 2019), Ihe Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Eskdale Mill and Heritage Trust meets the definition of a public benefil entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in
the relevant accounting policy.
2.2 Going ¢oncern
At the time of approving the financial statements, the Trustees have a reasonable expectation that
the Trust has adequate resources to continue in operational existence for the foreseeable future.
Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial
statements.
2.3 Income
All income is recognised once the Company has entitlement to the income, It is probable that the
income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing enlitlemenl, the probability of
receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of
entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to
them (Ihrough knowledge of Ihe existence of a valid will and the death of the benefactor) and the
executor is satisfied that the property in question will not be required to satisfy claims in the estate.
Receipt of a legacy musl be recognised when it is probable that it will be received and the fair value
of the amounl receivable, which will generally be the expected cash amount to be distributed to the
Company, can be reliably measured.
Grants are included in the Stalement of Financial Activities on a receivable basis. The balance of
income received for specific purposes but not expended during the period is shown in the relevant
funds on the Balance Sheet. Whefe income is received in advance of entitlement of receipt, its
recognition is deferred and included in creditors as deferred income. Where entitlement occurs
before income is received. Ihe income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the service.
2.4 Expenditure
Page 12

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third party, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs atlributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned between those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Taxatlon
The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definition of a charilable company for UK corporation tax purposes.
Accordingly, the Company is potentially exempt from taxalion in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively to charitable purposes.
2.6 Herltage assets
Where heritage assets have been purchased, they are initially recognised at cost. After recognition,
under the cost model, heritage assets are measured at cost less any accumulated depreciation and
any accumulated impairment losses.
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any Irade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid inveslments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
Page13

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
2.9 Liabilities and provlslons
Liabilities are recognised when there is an obligation al the Balance Sheet dale as a result of a past
event, it is probable Ihat a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or
the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligalion. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.10 Financial Instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Company and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance with specific restriclions imposed by
donors or which have been raised by the Company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 14

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donations and legacies
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Donations and gifts
Legacies
Grants
Gift aid reclaimed
1,156
1,156
1,500
4,608
5,013
1,500
4,608
5,013
6,169
6,108
12,277
Unrestricted
funds
2023
Total
funds
2023
Donations and gifts
Gift aid reclaimed
1,900
3,324
1,900
3,324
5,224
5, 224
Income from charltable actlvlties
Unrestrlcted Restricted
funds
funds
2024
2024
Total
funds
2024
Admissions
Shop sales
Tentergarth income
Hydro-refurb income
SPAB Mill Repair Fund income
27,580
6,309
27,580
6,309
3,210
3,210
33,889
3,210
37,099
Page15

ESKDALE MILL AND HERITAGE TRUST
(A Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from charitable activities {contlnued)
Unrestricted
funds
2023
Restricted
funds
2023
Total
fvnds
2023
Admissions
Shop sales
Tentergarth income
Hydro-refurb income
SPA8 Mill Repair Fund income
24, 286
4,344
24,286
4.344
13,017
6, 624
522
13,017
6, 624
522
28, 630
20,163
48, 793
Invostmant Income
Unrestricted
funds
2024
Total
funds
2024
Interest receivable
787
787
Unrestricted
funds
2023
Tot81
funds
2023
Interesl receivable
388
388
Other incoming resources
Unrestricted
funds
2024
Total
funds
2024
Hydro-electricty income
6,779
6,779
Page 16

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Other Incoming resources (continued)
Unreslricted
funds
2023
Total
funds
2023
Hydro-electricity income
5,166
5,166
Analysis of expendlture by activitie8
Actlvltles
undertaken
directly
2024
Total
funds
2024
Unrestricted expenditure
Restricted expenditure
47.607
9,800
47,607
9,800
57,407
57,407
Activities
undertaken
directly
2023
Total
funds
2023
Unrestricted expenditure
Restricted expenditure
40,191
17,755
40,191
17,755
57,946
57,946
Page 17

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of expenditure by activities (continued)
Analysis of direct costs
Total
funds
2024
Unrestricted Restrlcted
2024
2024
Staff costs
Heat and light
Rates
Insurance
General expenses
Advertising
Repairs and maintenance
Waterwheel costs
Legal fees
Bank charges
Tenlergarth project expenditure
Stock
Telephone
AIM Grant Expenditure
South Copeland GDF Comm Expenditure
19,252
3,252
2,484
4,789
3,362
1,693
5,993
926
1,542
591
19,252
3,252
2,484
4,789
3,362
1,693
5,993
926
1,542
591
9,251
9.251
2,727
996
108
2,727
996
108
441
441
47,607
9,800
57,407
Page 18

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of expenditure by activities {continued)
Analysis of direct costs (continued)
Total
funds
2023
Unrestricted
2023
Restricted
2023
Staff costs
Heat and light
Rates
Insurance
General expenses
Advertising
Repairs and mainlenance
Waterwheel costs
Legal fees
Bank charges
SPAB Mill Repair Fund expenditure
Tentergarth project expenditure
Hydro refurb expenditure
Stock
Telephone
17,063
1,182
1,741
4.812
2,018
2,211
4,657
99
1, 752
1,124
17,063
1,182
q,741
4,812
2,018
2,211
4,657
99
1, 752
1,124
502
9,406
7,847
2,501
1,031
502
9,406
7,847
2,501
1,031
40,191
17,755
57,948
Staff costs
2024
2023
Wages and salaries
19,252
17,063
19,252
17,063
The average number of persons employed by the Company during the year was as follows..
2024
No.
2023
No.
Average number of employees
Page 19

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Staff costs (continued)
No employee received remuneration amounting to more than £60,000 in either year.
Trustees. remuneration and expensos
During the year, no Trustees received any remuneration or Other benefits (2023 - £NIL).
During the year ended 31 December 2024, no Trustee expenses have been incurred (2023- £NIL).
10. Tangible fixed assets
Offlce
equlpment
Cost or valuation
At 1 January 2024
703
Al 31 December 2024
703
Depreclatlon
At 1 January 2024
703
At 31 December 2024
703
Net book value
At 31 December 2024
At 31 December 2023
Page 20

ESKDALE MILL AND HERITAGE TRUST
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11.
Heritage assets
Assets recognised at cost
Heritage
asset
2024
Total
2024
Carrying value at 1 January 2024
108,153
108,153
108,153
108,153
12. Debtors
2024
2023
Du• wlthln one year
Trade debtors
Other debtors
Prepayments and accrued income
210
2,730
210
5, 726
4,277
2,940
10,213
13. Credltors: Amounts falling dua wlthln one year
2024
2023
Olher taxation and social security
Other creditors
Accruals and deferred income
540
510
173
7, 752
1.548
2,088
2,435
Page 21

ESKDALE MILL AND HERITAGE TRUST
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
14. Statement of funds
Statement of funds - current year
Balance at
31
December
2024
Balance at 1
January
2024
Transfers
inlout
Income Expenditure
Unrestrlcted funds
Deslgnated funds
Designated Funds - all funds
108,153
108,153
General funds
General Funds - all funds
64,672
47,624
(47,607)
176
64,865
Total Unr•stricted funds
172,825
47,624
(47,607)
176
173,018
Restrlcted fund8
Tentergarth project
SPAB Mill Repair Fund
AIM Grant
Bequest- J Hutchins
South Copeland GDF Comm
Lake District Estates
6,197
20
3,210
(9,251)
(156)
(20)
108
1,500
4,000
500
(108)
1,500
3,559
500
(441 >
6,217
9,318
(9,800)
(176)
5,559
Total of funds
179,042
56,942
(57,407)
178,577
Page 22

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
14. Statement of funds (continued)
Statement of funds - prior year
Balance al
31
DeGemb8r
2023
Balance al
1 January
2023
Transfers
in/oul
Income Expenditure
Unrestrlcted funds
Designatèd funds
Designated Funds - all funds
108,153
108.153
General funds
General Funds - all funds
59, 306
39,408
(40, 190)
6,148
64,672
Total Unrestrlcted funds
167,459
39,408
(40, 190)
6, 148
172,825
Restricted funds
National Lottery Heritage Fund
Tentergarth project
Hydro-refurb
SPAB Mill Repair Fund
7, 371
2, 586
(7,371)
13,017
6, 624
522
(9,406)
(7, 847)
(502)
6,197
1,223
20
9,957
20,163
(17,755)
(6, 148)
6.217
Total of funds
177,416
59,571
{57,945)
179, 042
Page 23

ESKDALE MILL AND HERITAGE TRUST
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
14. Statement of funds (continued)
The National Lottery Heritage Fund project is for the Trust to provide conservation and improved
presenlation of the mill buildings and machinery, and establishmenl of the mill's day to day management,
in order to attract more visilors and ensure its long-term substainability.
The Tentergarth project is the restoration of the historic meadow behind the miller's cottage. The
meadow was overgrown with thick brambles, these have now been mainly cleared to allow native flowers
and grasses lo grow. A path will allow vistors to tour the meadow.
The hydro refurbishment was a replacement of the chain and sprockets with higher specification
componenets which should give an extended life of 5 and 10 years respectively.
The SPAB fund was mainly used to repair the jog scry (a vibrating sleeve) which had broken.There were
some other minor repairs lo other equipment.
The AIM grant was for staff and volunteer training which actually took place at the end of 2023.
The bequest from Joy Hulchins was for anything relating to the preservation of the mill or the building or
with artefacls that help visitors understand its history.
The South Copeland GDF Community Partnership was for volunteer training and activities - welfare, ppe.
refreshments, tools, equipment, materials but not travel.
Lake District Estates was for milllhydro maintenance August 24 to July 25.
15. Summary of funds
Summary of funds - curront year
Balance at
31
December
2024
Balance at 1
January
2024
Transf•rs
inlout
Income Expenditure
Designated funds
General funds
Restricted funds
108,153
64,672
6,217
108,153
64,865
5,559
47,624
9,318
{47,607)
(9,800)
176
(176)
179,042
56,942
(57,407)
178,577
Page 24

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
15. Summary of funds (continued)
Summary of funds - prior year
Balance al
31
December
2023
Balance 81
1 January
2023
Transfers
in/oul
Income Expenditure
Designated funds
General funds
Restricted funds
108, 153
59, 306
9,957
108. 153
64,672
6,217
39,408
20,163
(40, 190)
(17.755)
6, 148
(6, 148)
177,416
59,571
(57.945)
179,042
16. Analysis of net assets between funds
Analysis of not assets between funds - current perlod
Unrestricted
funds
2024
R•stricted
funds
2024
Total
funds
2024
Herilage assets
Current assets
Creditors due within one year
108,153
66,953
(2,088)
108,153
72,512
(2,088)
5,559
Total
173,018
5,559
178,577
Analysis of net assets between funds - prior period
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Heritage assets
Current assets
Creditors due within one year
108, 153
67,107
(2,435)
108,153
73,324
(2,435)
6,217
Total
172,825
6,217
179, 042
Page 25

ESKDALE MILL AND HERITAGE TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
17. Related party transactions
The Company has not entered into any related party Iransaction during the year, nor are there any
outstanding balan￿S owing between related parties and the Company at 31 De￿rnber 2024.
Page 26