Charity registrdtion number.. 1155828 Mills Archive Trust •• THE MILLS ARCHIVE TRUST TRUSTEES, REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Holy Brook Associates Ltd D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page1of1
The Mills Archive Trust Contents Page Trustees. Report Independent Examiner's Report statement of Financial Activities Comparative Statement of Financial Artivities Statement of Financial Position Notes to the Financial Statements 10-14 D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page2of1
The Mills Archive Trust Trustees. Report For The Year Ended 31 March 2025 The trustees present their report and the financial statements for the year ended 31 March 2025. Objectives and Activities Aims and Objectives The Trustees present their annual report together with the financial statements of The Mills Archive Trust {the charity) for the year ended 31 March 2025. The Trustees confirm that the Annual Report and financial ststements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the statement of Recommended Practice ISORPI, applicable to charities preparing their acctsunts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effettive l January 2015). structure, Governance and Management The Mills Archive Trust is an educational charity registered with the Charity Commission for England and Wales. Registered as a Charitable Trust in April 2002 (registration no 1091534) the charity was incorporated as a Foundation Charitable Incorporated Organisation (registration no 11558281 in February 2014. The Charity is controlled by its constitution dated 18 February 2014 and the management of the Charity is the SpOnsIbl11 of the Trustees. who are elerted under the terms of that constitution. The Trustees confirm that in setting our objectives and planning our activities, they have given careful consideration to the Charity Commission's general guidance on public benefit. Our strategic plan for the period up to 2027 highlights three thematic priorities- l. The Contemporary Importance of Renewable Energy The threat of climate change mandates the move from the use of fossil-based hjels to generate electricity. The history of renewable energyi based on wind- or water-power, is one of our areas of expertise and offers many research and education opportunities. 2. The Preservation of Vanishing Skills Traditional wind- and water-mills over the last millennium have lled on the skills of millers and millwrights to operate, maintain, and repair them. In the last century many have disappeared and their Su1Val as heritage assets is dependent on an ever-decreasing group of craftsmen and women. There is an urgent need to record and make public the technical details of their crafts and the potential impact of the loss of this aspett of cultural heritage. 3. Feeding the World The history of milling has many stories of hope in a wodd where the number of people affetted by hunger globally rose to 828 million in 2021. We aim to address the UN concern that the world is moving in reverse, away from the goal of ending hunger, food insecurity and malnutrition by 2030. We plan for growth, building on our wealth of material on the uses of wind- and waterpower. With our infomiation services, research and education as key priorities, we aim to ensure sustainability. We need this to deliver our mission to protert, preserve and promote milling history for people to learn from and enjoy, and achieve our vision to work to create a world in which the role of milling and all its contributors - from ancient times and up to present day - are understood, valued and recognised as integral to people's histories and lives today. Following the successful renewal of our national accreditation as an archive in March 2023, we will continue to invest in information services as a base to estsblish ourselves as an educational charity with a wodd-class affjhive and a strong record of research and scholarship. We welcomed two new trustees to our goveming body during the year. both of whom strengthen our board in various ways. Amanda Knight joined us in November 2024 and Mike Cookson in February 2025. Amanda brings legal and eharity experience- Mike has a background in digitsl strategy and intemational marketing. Public Benefit The objects of the charity are.. To advance the education of the public in the subjert of mills and milling by establishing and preseNing and facilitating the public use of the archive to form, establish and support, and to aid in the formation, establishment and support of any other charities and voluntary bodies, established for, or advancing. charitable purposes, the same as. or similar to those of the charity, for the benefit of the public. We continue to be grateful to our volunteers who have helped us achieve so much this year. We acknowledge the continuing backing from our regular supporters and the contributions from a significant number of new donors providing further support for our appeals to cover core costs. ..CONTINUED Page I D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page3of1
The Mills Archive Trust Trustees. Report (continued) For The Year Ended 31 March 2025 Public Benefit - continued In the financial year 2024-5, the Archive accessioned 104 new boxes of material and 3.86 GB of digital files. Significant accessions included the archives of mill researchers Michael Yates (mills in the UK), Chris Gibbings (mills across Europe) and Geoffrey Starmer (Northamptonshirel, as well as the photographs and technical drawings of architect John Reynolds. This year we have completed the catsloguing of the Millers, Mutual Association, whose collection preserves the history of the UK flour milling industry over the course of the 20th century, from the efforts made to rationalise the industry and prevent over-competition in the 19205, through the story of mills during the Blitz, to more recent decades. A set of very large minute books in the Millers. Mutual collection are a gold mine of research material on the consolidation of the milling industry after the First World War. Having carefully conserved them we are now investing in digitising content. We continue to expand our renewable energy holdings. A new initiative for us this year has been a collaboration with the local Community Beneffit Society Reading Hydro, who operate a water turbine scheme on the River Thames. We are working with them to collect and archive the records of their work. We have also carried out cataloguing work and accessioned additional records from the collertion of Peter Musgrove CBE. a significant figure in the development of wind turbines. Last year, our focus was on developing a range of educational resources for teenagers. Building on that foundation, we have expanded our work by creating artwork with primary school children and launching a new digital exhibition on the history of renewable energy, designed by our project intern. Polly Bodgener. Children took part in a series of creative workshops led by projert-artist>in-residence- Matt Hulse, lacky Oliver, and lelly's Kate Powell and Emma Bradbury. Matt Hulse guided children in making mixeij-media wall hangings themed around wind, water, and electric power and created a short film of their work. Jacky Oliver helped children craft windmills and wind turbines from recycled materials, showing the evolution of energy technology. The Jelly artists led a textile workshop exploring the historical role of textile mills. Each session included a short introdurtion by the Trust on the history and modern relevance of wind and waterpower. linking it to renewable energy and clirnate change. As well as deepening its partnership with Reading Hydro, the Trust launched the 'Reading's Milling Heritage" walk, tracing historic milling sites across the town, supported by a printed leaflet and a complementary exhibition showcasing related artefacts and stories. The Trust's commitment to neWable elertricity generation has fostered key partnerships with organisations such as the University of Reading, Ecotricity (via the Green Park Wind Turbine), the National Archives, and European heritage bodies. We aim to become a certified "Carbon Literate" organisation. with stsff and volunteers working towards individual certification. We demonstrated our dedication to renewable energy heritage at the September Archives and Records Association conference in Birrningham. presenting our work at local, national, and international levels. Feeding the World is one of our key strategic themes covering various elements of our work. The story of the Millers, Mutual Association and UK Flour Millers is a key element, along with the history and contemporary contribution made by modem industry. Durlng the summer we hosted four interns from the Universlty of Reading. each addresslng the global problem of food supply and how the history of milling offers messages of hope. Typical is a leaflet, outlining developments in feeding the world over the last eight decades created by Katie Dawson and Poppy Duff. Intern Sofia Pantsjoha defined and visualised an overarching message for the Trust's three educational themes -From History to Hope-. Both projects will become building blocks for updating our website. Sofia's internship was extended to test interest in and estsblish a Youth Sustainability Panel, open to 18-35 year olds, to ensure that the voice of a new generation is heard and ensure our messages and media are chosen to engage young people with an interest in climate change or world hunger. Our first online "Caring for your Collertion" webinar was so well-received we ran a second one in November 2024. Presented by members of staff, volunteers and trustees Amanda Knight and Mildred Cookson, it attracted a wide audience and has encournged us to make this a regular part of our educational work. Another Research Publication published this year. raised the total to 21. The book. on the windmills of Bristol and Gloucestershire, marks the seventh detailed windmill gazetteer we have released, the other covering Berkshire and Oxfordshire, Buckinghamshire, Hampshire, Huntingdonshire, Nottingharnshire and "The Mills of the Isles" Each provides a well-referenced history of each mill, illustrated where possible with images from our collertions. We are grateful for the second instslment of a 2_year grant from the Garfield Weston Foundation, supporting the continuing development of our digital presence. Similarly we a indebted to the Swire Charitable Trust for a 2-year grant to establish our Caring for an Icon initiative aimed at preserving the vanishing skills of traditional millwrights. We were the only UK winner of a Europe wide competition financed by the Council of Europe and the European Commission. This will enable us to begin to map the history across Europe of the growth of wind energy to generate electricity. Our website traffic continues to increase. Virtual visltors during the year increased by IOWO to 138,000. Page 2 D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page4of1
The Mills Archive Trust Trustees. Report (continued) For The Year Ended 31 March 2025 The trustees confirm that they have complied with the reqLjIments of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's guidance on public benefit. statement on Risk Management The Trustees have examined the major strategic, business. and operational risks which the charity faces and conffirm that systems have been established to mitigate these risks Financial Review Financial Position Total income was boosted Substantially over last year by grants to support our CO costs resulting in a small surplus. Our unrestricted reserve (cash plus Gift Aid due) at year end of £68,780 was up 15% on the previous year providing cover for 5 months of unrestricted costs, slightly below our target of 6 months. Reserves Policv It is the policy of the charity to aim for an unrestricted reserve of six months of unrestricted expenditu. Reference and Administrative Details Trustees Ms Mildred Cookson Mr Charles Pinchbeck Ms Amanda Knight LLB (appointed 0511112024) Mr Martin Savage Mr Michael Cookson (appointed 1110212025) Mr Michael Evans BA Mr Graham Hackney Dr Margaret Simons Dr Ronald Cookson MBE MA PhD - Chair Dr Ashok Vaidya other Personnel Ms E Bartram - Director Charity Number 1155828 Principal Address Watlington House 44 Watlington Street Reading RGI 4RJ Independent Examiner Rachel Eden FCMA Holy Brook Associates Ltd Curious Lounge Reading Berkshire RGIINH Bankers Charities Aid Foundation 25 Kings Avenue Page 3 D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R PageSof1
The Mills Archive Trust Trustees. Report (continued) For The Year Ended 31 March 2025 Kings Hill West Malling Solicitors Blandy and Blandy LLP One Friar Street Reading Additional Bankers Santander Bridle Road Bootle L30 4UE Page 4 D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page6of1
The Mills Archive Trust Trustees. Report (continued) For The Year Ended 31 March 2025 Statement of Trustees. Responsibilities The trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Pratticel- The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements the trustees are required to.. select suitable accounting policies and then apply them consistently: observe the methods and principles in the Charity SORP: make judgments and accounting estimates that are reasonable and prudent. and prepare the financial staternents on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial posltion of the charity and to enable them to ensure that the accounts cornply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corpordte and financial information included on the charity's website. Legislation in the United Kingdotn governing the preparation and dissemination of financial ststetnents may differ from legislation in other jurisdictions. The trustees. was approved by the board of trustees and signed on Its behalf by: Dr Ronald Cookson MBE MA PhD Trustee 1111112025 Page 5 D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page7of1
The Mills Archive Trust Independent Examiner's Report to the Trustees of The Mills Archive Trust For The Year Ended 31 March 2025 I report to the trustees on my examination of the accounts of The Mills Archive Trust (the Trust) for the year ended 31 March 2025. Responsibilities and Basis of Report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 l-the Act-). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carying out my examination, I have followed the applicable Dirertions given by the Charity Commission under section 14515)(b) of the Act. Independent Examiner's Statement Since the Trust's gross incorne exceeded £250,000 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 Chartered Institute of Management Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connertion with the examination giving me cause to believe that in any material respect- l. accounting records were not kept in respect of the Trust as required by section 130 of the Act- or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the applicable requirements concerning the form and contents of accounts set out in the Charitie5 (Accounts and Reports) Regulations 2008 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. I have no concerns and have come across no other matters in connection with the examination to which attention should be rawn in this report in order to enable a proper understanding of the accounts to be reached. Rachel Eden FCMA 2511112025 Curious Lounge Reading Berkshire RGIINH Page 6 D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page8of1
The Mills Archive Trust Statement of Financial Activities For The Year Ended 31 March 2025 2025 2024 Unrestricted Restricted funds funds Total funds Total funds Notes INCOME AND ENDOWMENTS FROM: Donations and legacies Charitable activities.. Charitable Activities 144,493 100,923 245,416 214,176 16,268 1.137 69 16,268 1,137 69 9,912 Investments other 1,242 161.967 100,923 262,890 225,330 EXPENDITURE ON: Raising funds Charitable activities.. (26.612) (1.749} {28,361) (26,677) Charitable Artivities (131,896) (99,0731 1230,969) (195,514) (158,508) (100,8221 1259,330) (222, 191) NET INCOME 3,459 ioi 3,560 3,139 NET MOVEMENT IN FUNDS 3,459 ioi 3,560 3,139 RECONCILIATION OF FUNDS: Total funds brought forward 60,945 16,144 77,089 73,949 TOTAL FUNDS CARRIED FORWARD 14 64,404 16,245 80,649 77,088 The notes on pages 10 to 14 form part of these financial statements. Page 7 D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page9of1
The Mills Archive Trust Comparative Statement of Financial Activities For The Year Ended 31 March 2025 2024 Unrestricted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM: Donations and legacies Charitable activities.. Charitable Activities 125,772 88,404 214,176 9,912 1,242 9,912 1,242 other 136,926 88,404 225,330 EXPENDITURE ON: Raising funds Charitable activities.. (30,741) 4,064 (26,677) Charitable Activities (115,685) {79,829) (195,514) (146,426) 175,765) (222, 191) NET INCOME (9,500) 12,639 3,139 NET MOVEMENT IN FUNDS (9,500) 12,639 3,139 RECONCILIATION OF FUNDS: Total funds brought forward 70,444 3,505 73,949 TOTAL FUNDS CARRIED FORWARD 14 60,944 16,144 77,088 The notes on pages 10 to 14 form part of these financial statements. Page 8 D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page10of16
The Mills Archive Trust Statement of Financial Position As At 31 March 2025 2025 2024 Unrestricted Restricted funds funds Total funds Total funds Notes FIXED ASSETS Tangible Assets li 15,501 15,501 19,376 15.501 15,501 19,376 CURRENT ASSETS Cash at bank and in hand 50,691 16,245 66,936 57,712 50.691 16,245 66,936 57,712 Creditors: Amounts Falling Due Within One Year 12 {1,788) (1,788) NET CURRENT ASSETS {UABILITIES) 48,903 16,245 65,148 57,712 TOTAL ASSETS LESS CURRENT LIABILrrIES 64,404 16,245 80,649 77,088 NET ASSETS 64,404 16,245 80,649 77,088 FUNDS OF THE CHAIUTY Restrirted FLJnds 16,245 64,404 16,144 60,944 Unrestricted Funds TOTAL FUNDS 14 80,649 77,088 Thefin statements were app by the board of trustees on I l November 2025 and were slgned on Its behalf by: Dr Ronald Cookson MBE MA PhD Trustee The notes on pages 10 to 14 form part of these financial statements. Page 9 D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page11 of 16
The Mills Archive Trust Notes to the Financial Statements For The Year Ended 31 March 2025 l. General Information The Mills Archive Trust is a Charitable Incorporated Organisation gIstered with the Charity Commi55ion, registered charity number 1155828. The principal address is Watlington House , 44 Watlington Street, Reading, RGI 4RJ. 2. Statement of Compliance The financial staternents 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 l January 2019)" Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011. 3. Accounting Policies 3.1. Basis of Preparation of Financial Statements The financial statements have been prepared under the historical cost convention. The charity is a Public Benefit Entity as defined by FRS 102. 3.2. Golng Concern Dlsclosure The trustees have not identified any material uncertsinties related to events or conditions that may cast significant doubt about the charity's ability to continue as a going COnrn. 3.3. Fund Accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose. Restricted funds are to be used for specific purposes as laid down by the donor. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 3.4. Tangible Fixed Assets and Depreciation Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated sIdUal value, over their expected useful lives on the following bases: Fixtures & Fittings 20% 3.5. Cash and Cash Equivalents Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than the months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts. 4. Income from Donations and Legacies 2025 Unrestricted Restricted Total funds funds funds Donations and gifts Member subscriptions and sponsorships Gift aid 77,252 2,710 16,930 47,601 77,252 2,710 16,930 148,524 Grants 100,923 144,493 100,923 245,416 Page 10 D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page12of16
The Mills Archive Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 2024 Unrestricted Restricted Total fund5 fund5 fund5 Donations and gifts Member subscriptions and sponsorships Gift aid 100,772 10,000 110,772 Grants 25,000 78,404 103,404 125,772 88,404 214,176 5. Investment Income 2025 2024 Unrestricted Unrestricted funds funds Bank interest receivable 1,137 6. Other Income 2025 2024 Unrestricted Unrestricted funds funds other income type A 69 1,242 7. Net Income/(Expenditure) The net income is stated after charging/lcrediting): 2025 2024 Depreciation of tangible fixed assets - owned 3,875 8. Independent Examiner's Remuneration 2025 2024 Independent examination of the financial statements other assurance services Tax advisory services other financial services 504 360 648 799 346 1,951 706 The Independent Examiner received remuneration of £504 including VAT for examination and £648 for review and preparation of the acounts. The Same firm received MuneratIon of £798.60 including VAT for other services relating to payroll and pensions administration during the year. Page 11 D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page13of16
The Mills Archive Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 9. Staff Costs staff costs We as follows.. 2025 2024 Wages and salaries Social security costs Other pension costs 93.314 13,799 4,128 86,884 10,994 3,182 111,241 101,060 No employees received employee benefits {excluding employer pension costs) for the reporting period of more than £60,000. 10. Average Number of Employees Average number of employees during the year was: 4 (2024: 4) 11. Tangible A55ets Fixtures & Fittings Cost As at l April 2024 19,376 As at 31 March 2025 19,376 Depreciation As at l April 2024 Provided during the period 3,875 As at 31 March 2025 3,875 Net Book Value As at 31 March 2025 15,501 As at l April 2024 19,376 12. Creditors: Amounts Falling Due Within One Year 2025 2024 Trade creditors Other creditors Accruals and deferred income (i) 745 1,044 1,788 13. Pension Commitments The charity operates a defined contribution pension scheme. The assets of the scheme a held separntely from those of the charity in an independently administered fund. During the year the charge to the statement of financial activities in respect of defined contribution schemes was £4,128 (2024.. £3,182). At the statement of financial position date contributions of £NIL were due to the fund and are included in creditors. Page 12 D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page14of16
The Mills Archive Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 14. Movement in Funds As at l April 2024 Asat31 Expenditure March 2025 Income Unrestricted funds General.. General unrestricted fund Designated.. Collections fund Education and outreach fund Research fund 46.596 161.967 (158,508) 50,055 5,181 2,480 6,688 5,181 2,480 6,688 14.349 14,349 Total unrestricted funds 60.945 161.967 (158,508) 64,404 Restricted funds Trustees for Reading EmPOWERed National Lottery Heritsge Fund Reading University Millers, Mutual Association European Council Heritage Open Days 6,000 2,800 (3,392) (81,536) (6,462) (7,345) (2,087) 2,608 9,088 156) (i) 4,606 87,824 6.406 7,344 6,693 Total restricted funds 16,144 100,923 (100,B22} 16,245 Total funds 77,089 262,890 (259,330) 80,649 As at l April 2023 Asat31 Expendlture March 2024 Income Unrestricted funds General- General unrestricted fund Designated.. Collections fund Education and outreach fund Research fund 56,095 136.926 (146,426) 46,595 5,181 2,480 6,688 5,181 2,480 6,688 14.349 14,349 Total unrestrlcted funds 70,444 136,926 (146,426) 60,944 Restricted funds Trustees for Reading EmPOWERed National Lottery Heritsge Fund 10,000 76,945 (4,000) (74,145) 6,000 2,800 ..CONTINUED Page 13 D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page15of16
The Mills Archive Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 Reading University Millers, Mutual Association 1.459 (1,459) 3,839 3.505 7,344 Total restricted funds 3,505 88,404 (75,765) 16, 144 Totsl funds 73,949 225,330 (222,191) 77,088 15. Transactions with Trustees None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year. No trustee expenses have been incurred. 16. Related Party Dlsclosures There have been no related party transartions in the reporting period that require disclosure. Page 14 D[ent Ref.. WBCQT-XSM47-XXKHP-KGH4R Page16of16
CERTIFICATE of SIGNATURE RFF.NUXlkF BCQT-XSM47-XXKHP-KGH4R OOCUMENi r.'o)Mlii FTF I) RY AI I PAR TIFS ON 05 DEC 2025 11-13-28 TTTC SIGNER TIMESTAMP SIGNATURE RACHEL EDEN SENT 05 DEC 2025 11:13:28 05 DEC 2025 11:13:28 82.12.207.190 IIEADING. iINITED KINGDOM igned with PandaDoc PAGEIOFI