OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← St Agnes Miners And Mechanics Institute (2013)

2025-03-31-accounts

Charity registration number 1156072 (England and Wales)

ST AGNES MINERS AND MECHANICS INSTITUTE (2013) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr B Jackson Ms H Owen Mr R Wilson Ms C John Ms S Thomas

(Appointed 1 August 2025) (Appointed 1 August 2025)

Charity number (England and Wales)

1156072

Principal address

18 Vicarage Road St Agnes United Kingdom TR5 0TL

Independent examiner

Thomas Tripp FCCA ACA bk plus Limited Lakeside Offices Coronation Park Helston TR13 0SR

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

CONTENTS

Page
Trustees' report 1 - 4
Statement of trustees' responsibilities 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 17

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the CIO's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

Objectives and activities

The object of the Charity is the provision of and maintenance of a village hall for the use of inhabitants of the Parish of St Agnes and the neighbourhood.

The Charity, a CIO, is responsible for the management and operation of a building gifted to the local community as a 'village hall' which is to be used for the benefit of all local residents. Trustees are appointed to the CIO in line with its constitution. The Trustees are responsible for ensuring that the MMI is used in the manner laid down in the original deeds by the benefactor John Passmore Edwards. Activities include the provision of the village hall for any charitable purpose and for the benefit of the inhabitants of St Agnes, Cornwall as the Trustees of the Charity see fit.

Public benefit

We have referred to the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular the Trustees consider how planning activities will contribute to those aims and objectives.

Activities

The Charity is a not for profit organisation set up to provide facilities and events that meet the needs of the local population and community. It continues to seek ways to develop the usage of the MMI facilities. The day-to-day management of the MMI is effectively managed by the MMI Operations Manager. The Trust relies heavily on income generated from room lettings in the premises. The MMI Operations Manager has established procedures that ensure the rooms are being used effectively and matched to the hirer’s needs. The success of this strategy over the past few years is seen in the large number of regular and repeat bookings, particularly with local groups and clubs. The use of the facilities by the public has included:

1) Community Energy Plus Drop In Sessions

8) Local art groups, writing groups and music groups regularly holding workshops

9) A monthly community market has been established to enable local home based people to display and sell their goods. This always occupies three spaces on each occasion it runs and is often over-subscribed by stall holders 10) A community Cafe providing a warm welcome and tasty fayre plus a venue for many within the parish as well as visitors to the Parish

11) A twice monthly ‘Memory Café’ for those affected by Dementia

12) Private events such as birthdays, anniversaries, retirement parties, wakes and wedding receptions

13) The monthly Community Cinemas, popular and successful events that support the upkeep of the building. These have proved to be a successful social venture

14) Local activity groups, e.g. Photography Club, Book Club and Art Club regularly use the rooms

15) The Trust continues to link up with Carn to Cove who provide small scale performance art in local communities and these events are always well attended with most being a sell out each time

16) The Trust has linked up with National Live Theatre bringing a broad range of plays to the local community which is popular with St Agnes residents

17) Other events e.g. live music, bingo and concerts

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

18) We have hosted one off pop up food events which are very popular in the community 19) We screened some of the Euros Football matches on our large screen which were also very popular 20) The local GP surgery is running twice weekly pain clinics for those with hip and knee issues

21) The now well established ‘Well-Being’ Studios continues to thrive, attracting a wide range of the population. We have two rooms that have been adapted to facilitate activities such as Yoga, Pilates, Tai Chi, Flamenco, Silver Swans ballet, adult dance classes, Chair Yoga for Seniors and children's dance classes. All the courses are well supported.

Achievements and performance

Our Bar and Events Manager took maternity leave from April until October 2024. We still ran a full programme of events with maternity cover until June 2024 and from June 2024 existing staff shared the workload in addition to their day to day roles. This programme included; community discussion groups, music gigs, screening the Euros Football, pop up micro craft brewery events, dance evenings to swing music and classical concerts along with private bookings for companies and individuals such as local group award evenings, wakes, wedding receptions and children's parties.

Following the resignation of the Café Manager the Board of Trustees took the decision to reach out to local Café businesses and ask them to tender to run their business within the MMI. After meeting with a few prospective businesses, a business was chosen whose values aligned with the MMI Charity and this has proved successful in increasing footfall to the MMI building and attracting a different demographic, alongside still serving our regular users covering all demographics.

We have continued to update our working groups, strategies and policies as an ongoing process of ‘good practice’ and we have met our target that all our staff are now on the Real Living Wage and we commit to maintaining this position.

Financial review

The attached financial statements show the current state of the finances. The deficit for the year is £5,498 (2024: £15,531 deficit).

Unrestricted reserves show a surplus of £111,937 (2024: £117,206 surplus), with restricted funds showing a surplus of £331,678 (2024: £332,907 surplus). Free reserves total £93,950 (2024: £96,045).

Reserves policy

We have continued to experience heavy demands on our finances, as a result of the cost of living crisis which has seen some of our bills quadruple over the last three years. Our reserves have this year and we are keenly aware of the need to generate more income. We continue to closely monitor our cash flow.

Financial Management

We review our financial position via our cashflow projection, a tool that enables us to monitor the expected (budget) against the actual which is presented by the finance team to all trustees and managers at a monthly meeting. This gives us a clear vision of where we are and provides discussion and action points going forward.

Risk management

The trustees have a risk management strategy which comprises of an annual review to discuss those risks identified and plan procedures to minimise any potential impact on the charity should those risks materialise.

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Plans for future periods

Capital Funding

The Trust is responsible for ensuring a very old building is fit for the purpose it is intended. This requires continual expenditure on maintaining the building and is an ongoing process. At the present time the building is able to meet the demands from the local population, but the Trust has identified areas that ideally require reparations to keep the building in good condition and well maintained. They have agreed that if any significant development is required this will only be undertaken if capital funding is available and where possible, the Fundraising Group will seek the opportunity to apply for external funding to match the Trust’s input or research grants that will fund in full. At this time, an application has been submitted to the Community Capacity Fund as part of the Shared Prosperity Fund for a grant to assist with drawing up plans and designs for improvements to the building and accessibility.

Fundraising

Having identified the need to increase our income, partly due to the cost of living crisis and partly because we are maintaining a ‘Victorian-era’ building, we have continued to prioritise our fundraising efforts this year. Our success with applications to Garfield Weston Foundation, National Lotteries A4A, St Agnes Local Improvements Committee and The Norman Family Trust, has enabled us undertake essential damp-proofing repairs and has significantly helped to pay our bills. We have restructured our local support project, creating our MMI 'Legend‘ scheme to encourage people to make regular donations to the MMI that can be supported through our Gift Aid scheme. We have set up a Fund-raising subgroup that meets weekly and have made significant progress with this activity.

Structure, governance and management

The charity is a CIO, controlled by its governing document, a deed of trust, and constitutes an incorporated charity.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr B Jackson

Ms H Owen Mr R Wilson Mr J D Cooper (Appointed 13 June 2024 and resigned 24 November 2025) Ms C John (Appointed 1 August 2025) Ms S Thomas (Appointed 1 August 2025) Ms S Quinn (Resigned 1 May 2025) Ms N King (Resigned 16 July 2025)

Recruitment and appointment of trustees

At its incorporation in 2014 the charity (CIO) had three trustees. During this year there were some changes of trustee appointments resulting in us having as of March 2025, six trustees. Our grateful thanks to those who have given us their time and expertise to help us move forward to where we are today.

As part of its constitution the Board of Trustees are charged, when considering the appointment of a Trustee, to consider persons with "skills, knowledge and experience needed for the effective administration of the CIO". A newly appointed Trustee engages in an induction programme that ensures a) they are aware of the aims and objectives of the Trust and b) are aware of their role and responsibilities as a Trustee governed by the Charity Commission. They are given a copy of Commission's Welcome Pack.

Organisational structure

In 2014, following approval from the Charity Commissioner to create a CIO to replace the existing Trust, St Agnes Miners & Mechanics Institute (2013), was incorporated and began the preparation for taking on the responsibilities and assets of the old Trust. From 1st April 2016, the new Trust assumed full responsibility for the operation and management of the assets of the old Trust, in particular the building known as the Miners & Mechanics Institute (MMI).

In February 2017, the Trust appointed a Community Development Manager, now called the Operations Manager, who has the responsibility for the day-to-day operation and management of the premises. The post is currently a part-time position.

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The trustees' report was approved by the Board of Trustees.

Mr B Jackson Trustee

12 January 2026

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The trustees 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).

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 CIO and of the incoming resources and application of resources of the CIO for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the CIO and enable them to ensure that the financial statements comply 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 CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

I report to the trustees on my examination of the financial statements of St Agnes Miners and Mechanics Institute (2013) (the CIO) for the year ended 31 March 2025.

Responsibilities and basis of report

As the trustees of the CIO you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the CIO’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

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 financial statements to be reached.

Thomas Tripp FCCA ACA

bk plus Limited Lakeside Offices Coronation Park Helston TR13 0SR

13 January 2026

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
2
45,242
6,700
Other trading activities
3
111,699
-
Total income
156,941
6,700
Expenditure on:
Raising funds
4
106,664
-
Charitable activities
5
55,546
6,929
Total expenditure
162,210
6,929
Net expenditure and
movement in funds
(5,269)
(229)
Reconciliation of funds:
Fund balances at 1 April 2024
117,206
331,907
Fund balances at 31 March
2025
111,937
331,678		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
51,942
10,925
-
111,699
149,661
-
163,641
160,586
-
106,664
132,776
-
62,475
43,072
269
169,139
175,848
269
(5,498)
(15,262)
(269)
449,113
132,468
332,176
443,615
117,206
331,907		 Total
2024
£
10,925
149,661
160,586
132,776
43,341
176,117
(15,531)
464,644
449,113

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

BALANCE SHEET

AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
11
Current assets
Stocks
12
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
The funds of the CIO
Restricted income funds
16
Unrestricted funds
17		 2025
£
2,920
8,991
85,847
97,758
(3,427)		 £
349,284
94,331
443,615
331,678
111,937
443,615		 2024
£
3,759
8,256
86,838
98,853
(2,427)		 £
352,687
96,426
449,113
331,907
117,206
449,113

The financial statements were approved by the trustees on 12 January 2026

Mr B Jackson Trustee

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

St Agnes Miners and Mechanics Institute (2013) is a Charitable Incorporated Organisation (CIO).

1.1 Accounting convention

The financial statements have been prepared in accordance with the CIO's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The CIO is a Public Benefit Entity as defined by FRS 102.

The CIO has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the CIO. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the CIO 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.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is derived mainly from 'Other trading activities' which consists of cafe income, bar income and room hire.

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Support costs have been allocated between governance costs, management costs and finance costs. Governance costs are those items of expenditure incurred in the course of the charity's statutory obligations and include the cost of independent examination and costs linked to the strategic management of the charity.

Supports costs are mainly allocated to 'Expenditure on raising funds'. The governance costs have wholly been allocated to 'Other resources expended' given they do not relate to the day-to-day activities of the charity.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings Not depreciated Fixtures and fittings 15% reducing balance Computers 15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The CIO only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.10 Employee benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

2 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
8,932
-
Grants
36,310
6,700
45,242
6,700
Donations and gifts
Donations
5,767
-
Gift aid
3,165
-
8,932
-
Grants
National Lottery
15,540
4,200
Garfield Weston
20,000
-
The Norman Family
-
2,500
St Agnes Local
Improvements
770
-
36,310
6,700		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
8,932
10,925
-
43,010
-
-
51,942
10,925
-
5,767
3,333
-
3,165
7,592
-
8,932
10,925
-
19,740
-
-
20,000
-
-
2,500
-
-
770
-
-
43,010
-
-		 Total
2024
£
10,925
-
10,925
3,333
7,592
10,925
-
-
-
-
-

3 Income from other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Bar income 36,100 49,692
Cafe income 24,334 48,569
Fundraising events 7,838 3,611
Room hire 43,127 47,789
Sundry income 300 -
Other trading activities 111,699 149,661

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

4 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Advertising 1,044 -
Other fundraising costs 34,909 46,312
Staff costs 64,858 83,397
Support costs 5,853 3,067
106,664 132,776

5 Expenditure on charitable activities

Provision of Provision of
village hall village hall
2025 2024
£ £
Direct costs
Depreciation and impairment 3,403 4,004
Rates and water 1,849 1,265
Insurance 5,503 3,572
Light and heat 16,602 9,942
Sundries 1,195 1,416
Repairs and renewals 12,696 4,946
Cleaning 13,865 12,377
55,113 37,522
Share of support and governance costs (see note 6)
Governance 7,362 5,819
62,475 43,341
Analysis by fund
Unrestricted funds 55,546 43,072
Restricted funds 6,929 269
62,475 43,341

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 Support costs allocated to activities

Telephone
Postage and stationery
Advertising
Travel
Bank charges
Governance costs
Analysed between:
Fundraising
Provision of village hall
Governance costs comprise:
Accountancy
7
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets		 2025
£
967
115
4,364
-
407
7,362
13,215
5,853
7,362
13,215
2025
£
7,362
7,362
2025
£
2,160
3,403		 2024
£
879
124
1,830
231
3
5,819
8,886
3,067
5,819
8,886
2024
£
5,819
5,819
2024
£
2,160
4,004

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the CIO during the year.

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

9 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
Management and administration 3 8
Cafe and bar 4 3
Total 7 11
Employment costs 2025 2024
£ £
Wages and salaries 63,881 82,715
Other pension costs 977 682
64,858 83,397

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2025 2024
£ £
Aggregate compensation 22,280 20,237

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

11 Tangible fixed assets

Freehold land
and buildings
Fixtures and
fittings
Computers
£
£
£
Cost
At 1 April 2024
330,000
91,309
272
At 31 March 2025
330,000
91,309
272
Depreciation and impairment
At 1 April 2024
-
68,789
105
Depreciation charged in the year
-
3,378
25
At 31 March 2025
-
72,167
130
Carrying amount
At 31 March 2025
330,000
19,142
142
At 31 March 2024
330,000
22,520
167		 Total
£
421,581
421,581
68,894
3,403
72,297
349,284
352,687

The property has been independently valued at £330,000 in 2014 by an independent valuer who holds recognised professional qualifications and has the relevant experience required. The trustees do not consider the current market value to be materially different.

12 Stocks

Finished goods and goods for resale
13
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
14
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 2025
£
2,920
2025
£
1,213
7,778
8,991
2025
£
1,267
2,160
3,427		 2024
£
3,759
2024
£
1,211
7,045
8,256
2024
£
267
2,160
2,427

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

15 Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 977 682

The CIO operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the CIO in an independently administered fund. There is no balance outstanding as at 31 March 2025 (2024: £nil).

16 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April Incoming Resources At 31 March
2024 resources expended 2025
£ £ £ £
Restricted fund 330,381 - - 330,381
St Agnes Parish Council 1,526 - (229) 1,297
National Lottery - 4,200 (4,200) -
The Norman Family Trust - 2,500 (2,500) -
331,907 6,700 (6,929) 331,678
Previous year: At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
Restricted fund 330,381 - - 330,381
St Agnes Parish Council 1,795 - (269) 1,526
332,176 - (269) 331,907

Restricted funds totalling £330,000 consist of the freehold property transferred to the CIO which is to be used in line with the charitable objectives.

£1,678 relates to specific grant funding provided in previous years by St Agnes Parish Council for the purchase of capital items such as the CCTV system and a cafe grill, less depreciation charged.

During the year £4,200 was received from the National Lottery to use towards damp-proofing. All funds were utilised during the year.

During the year £2,500 was received from The Norman Family Trust to use towards damp-proofing. All funds were utilised during the year.

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Resources At 31 March
2024 resources expended 2025
£ £ £ £
General funds 117,206 156,941 (162,210) 111,937
Previous year: At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
General funds 132,468 160,586 (175,848) 117,206

18 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 March 2025:
Tangible assets
17,987
331,297
Current assets/(liabilities)
93,950
381
111,937
331,678
Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 March 2024:
Tangible assets
21,161
331,526
Current assets/(liabilities)
96,045
381
117,206
331,907		 Total
2025
£
349,284
94,331
443,615
Total
2024
£
352,687
96,426
449,113

19 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).