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2026-03-31-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 2026

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 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 18

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2026

The trustees present their annual report and financial statements for the year ended 31 March 2026.

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 Manager. The Trust relies heavily on income generated from room lettings in the premises. The MMI 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:

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026

Achievements and performance

The year ending 31 March 2026 has been one of both challenge and achievement for St Agnes Miners & Mechanics Institute. Like many community organisations, we have continued to face rising operating costs, particularly for energy and the maintenance of our historic building. These pressures have reinforced the importance of securing the MMI's long-term future while continuing to provide the services and activities that our community relies upon every day.

Despite these challenges, this has also been a year of progress. We have invested in maintaining our building, been active in planning significant improvements to accessibility and sustainability, secured vital grant funding, welcomed new trustees and volunteers, and strengthened our fundraising efforts. None of this would have been possible without the dedication of our staff, volunteers, trustees, funders, supporters and the wider St Agnes community.

The following highlights provide a snapshot of another busy and rewarding year at the MMI.

Highlights of the Year

April & May 2025

Essential damp-proofing work was completed in our beautiful Enys Room, which had become increasingly cold and damp for the many groups using it throughout the year. Thanks to generous grants from The Norman Family Trust, the Bernard Sunley Foundation and the St Agnes Local Improvements Committee, together with a contribution from the MMI's reserves, the room is now warm, dry and once again fully fit for purpose.

May 2025

We were delighted to secure funding from Cornwall Council's Community Capacity Fund to consult with our community and develop plans for the future of the MMI. Working alongside a local architect, design specialists and a steering group of 18 local people representing a wide range of ages and backgrounds, we created a vision for improving accessibility, sustainability and the flexibility of our spaces. These exciting plans will guide future improvements over the next five years, subject to funding.

We launched our first-ever full-day music festival 'Bal Fest' showcasing ten local artists across two MMI stages.

July 2025

The MMI hosted the village VE & VJ Day Celebration, with a full family-friendly day of activities. This was a village wide project and included exhibitions, speakers, dancing, a military vehicle display, and 100 cream teas for locals, donated by a local bakery.

August 2025

Improving the environmental sustainability of the building became a major priority. Work began on our solar panel project with ecological surveys of bats and birds, marking the first stage towards reducing our ever-increasing energy costs and protecting the future financial sustainability of the MMI.

We were delighted to welcome two new trustees, Sally Thomas and Claire John, who bring valuable experience in human resources, social care and business management.

September 2025

Our first ever Open Day proved to be one of the highlights of the year and a turning point in our fundraising efforts. More than 400 people visited throughout the day to celebrate everything the MMI offers our community, and their part in creating it.

Visitors enjoyed a fascinating talk on the history of the building by Roger Radcliffe, café refreshments, information displays, taster sessions, live music, workshops and a moving campaign video created by a trustee, highlighting the financial challenges facing the MMI and asking for community support.

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026

The response was overwhelming, with many local people signing up as monthly "Legends" supporters. The day demonstrated just how much the MMI means to our community, and was a heart-warming reminder of the strength of local support.

Alongside this, we established a Fundraising Sub-Group which continues to meet weekly. We delivered fundraising leaflets throughout the parish and launched our Corporate Legend scheme, with several local businesses including Hanbury Financial Services, Pullen Davies Solicitors, Edhen Vets, Aspects Holidays and Revitalise Dental Centre becoming some of our first supporters.

October 2025

We were extremely grateful to receive a £15,000 grant from the Garfield Weston Foundation towards our running costs, our second award from this funder. Receiving continued support following the successful delivery and reporting of our previous grant is a welcome endorsement of their confidence in the MMI and the way in which we manage the funding entrusted to us. The grant provides much-needed support during an increasingly challenging financial period.

November 2025

Following the increase in the Real Living Wage, the Trustees took the important decision to continue paying all staff at or above this rate. During the same month we also launched the MMI 100 Club, an ambitious campaign encouraging 100 individuals, families or organisations to each contribute £1,000 towards building a more secure financial future for the charity. This is an ongoing project.

December 2025

We were delighted to receive a £20,000 grant from the National Lottery Awards for All programme, our second from this funder. We are extremely grateful for their support. The MMI continued to be a vibrant community hub throughout the year, hosting National Theatre Live screenings, Carn to Cove performances, Community Cinema, Power to the Meeple gaming events, games nights, pool competitions, Robbie Bunt's popular jam nights, Small Plates evenings, boogie-woogie piano performances, Mingle & Jingle celebrations, private parties and a very popular family-friendly New Year's Eve party with an amazing local live band, four different rooms full of children’s activities, and and at 9pm, a balloon drop & New Year’s Eve celebration.

We also introduced wedding and private party packages for the first time.

Our talented Arts groups once again produced beautiful Christmas card designs, raising valuable funds for the charity.

Ben Jackson organised a staff, café and Workspace darts tournament, bringing everyone together for a fun evening of friendly competition and team building.

We also met with Tim Bagshaw from Access 2 Finance to begin developing a three to five-year business strategy for the organisation.

January 2026

The MMI held its first Annual General Meeting, establishing what will become an important annual opportunity to review our progress and engage with members.

During the month, Storm Goretti caused damage to our roof and left the village without power for several days, creating additional challenges for the building and our operations.

February 2026

Our Manager, Rachel Budden, completed a comprehensive organisational Risk Register and, working alongside Sally Thomas, our Safeguarding lead, reviewed and updated key policies including Fire Safety, Safeguarding, First Aid and Health & Safety.

The MMI also welcomed BBC Radio Cornwall, who broadcast their Breakfast Show live from the building, helping to showcase our work to listeners across the county.

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026

We also thanked Ben Jackson for his outstanding service as Chair of Trustees and welcomed Hilary Owen into the role. We are delighted that Ben continues to serve as a trustee.

Our jazz programme restarted in conjunction with a local jazz musician, helping to curate regular events featuring local players alongside nationally recognised talent.

March 2026

We launched our Free Wills Service in partnership with Pullen Davies Solicitors. The scheme enables local people to make or update their wills free of charge, while offering the opportunity to leave a legacy gift to help secure the future of the MMI for generations to come.

Conclusion

As we look ahead, we remain committed to safeguarding this remarkable building and ensuring it continues to serve the people of St Agnes for now and for the future. While financial challenges remain significant, the support shown by our funders, volunteers, staff, trustees and community throughout this year has given us renewed confidence. Together, we are not only preserving an important piece of Cornwall's heritage, but also strengthening a thriving community hub that continues to change and improve lives every day, in line with our mission ‘to build, enhance and support lives and communities in St Agnes’.

Financial review

The attached financial statements show the current state of the finances. The surplus for the year is £18,489 (2025: £5,498 deficit). This is due to unrestricted grants not yet being fully spent totalling £22,090.

Unrestricted reserves show a surplus of £130,621 (2025: £111,937 surplus), with restricted funds showing a surplus of £331,483 (2025: £331,678 surplus). Free reserves total £115,332(2025: £93,950).

Reserves policy

The St Agnes Miners & Mechanics Institute (MMI) aims to maintain unrestricted reserves equivalent to three months of essential running costs, currently £37,500.

These reserves provide a financial safety net to protect the MMI if there is an unexpected reduction in income, an unforeseen major expense, or another significant issue that requires the organisation to reduce or cease its activities and close responsibly.

We have also designated £6,500 towards the replacement of our outdated fire doors, and £20,000 to support an application to the National Lottery Heritage Fund for essential renovation, accessibility and heritage protection work.

Financial Management

We review our financial position through our cashflow projection, which enables us to monitor budgeted income and expenditure against actual performance. The cashflow projection, together with a written financial report, is presented by the finance team to trustees and managers at a monthly meeting. This provides a clear picture of our financial position and enables appropriate discussion and action.

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.

Structure, governance and management

The charity is a Charitable Incorporated Organisation (CIO) (registered number: 1156072) and is controlled by its constitution dated 7 March 2014 (as amended 19 December 2024).

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026

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 (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 the year there were several changes to the Board, resulting in the charity having five trustees as at 31 March 2026. We extend our grateful thanks to those who have given their time and expertise to help the MMI reach where it is 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 the 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 1 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 Manager, who has the responsibility for the day-to-day operation and management of the premises. As at 31 March 2026, the MMI had eight employees and 11 volunteers (including trustees). All are part-time and from the local area.

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

Ms H Owen

Trustee

3 September 2026

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 2026.

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

3 September 2026

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 MARCH 2026

Unrestricted
Restricted
funds
funds
2026
2026
Notes
£
£
Income from:
Donations and legacies
2
61,006
19,573
Other trading activities
3
144,539
-
Investments
4
99
-
Total income
205,644
19,573
Expenditure on:
Raising funds
5
116,434
-
Charitable activities
6
70,526
19,768
Total expenditure
186,960
19,768
Net income/(expenditure) and
movement in funds
18,684
(195)
Reconciliation of funds:
Fund balances at 1 April 2025
111,937
331,678
Fund balances at 31 March
2026
130,621
331,483		 Total
Unrestricted
Restricted
funds
funds
2026
2025
2025
£
£
£
80,579
45,242
6,700
144,539
111,699
-
99
-
-
225,217
156,941
6,700
116,434
106,664
-
90,294
55,546
6,929
206,728
162,210
6,929
18,489
(5,269)
(229)
443,615
117,206
331,907
462,104
111,937
331,678		 Total
2025
£
51,942
111,699
-
163,641
106,664
62,475
169,139
(5,498)
449,113
443,615

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 2026

Notes
Fixed assets
Tangible assets
12
Current assets
Stocks
13
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
The funds of the CIO
Restricted income funds
17
Unrestricted funds
18		 2026
£
3,100
5,968
110,825
119,893
(4,180)		 £
346,391
115,713
462,104
331,483
130,621
462,104		 2025
£
2,920
8,991
85,847
97,758
(3,427)		 £
349,284
94,331
443,615
331,678
111,937
443,615

The financial statements were approved by the trustees on 3 September 2026

Ms H Owen Trustee

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

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, events 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 2026

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 2026

2 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2026
2026
£
£
Donations and gifts
26,006
-
Grants
35,000
19,573
61,006
19,573
Donations and gifts
Donations
8,886
-
Gift aid
5,239
-
Supporter Scheme
11,881
-
26,006
-
Grants
National Lottery
20,000
-
Garfield Weston
15,000
-
The Norman Family
-
-
St Agnes Local
Improvements
-
1,487
Cornwall Community
Capacity Fund
-
14,886
Bernard Sunley
Foundation
-
3,000
Cornwall Council
-
200
35,000
19,573		 Total
Unrestricted
Restricted
funds
funds
2026
2025
2025
£
£
£
26,006
8,932
-
54,573
36,310
6,700
80,579
45,242
6,700
8,886
5,767
-
5,239
3,165
-
11,881
-
-
26,006
8,932
-
20,000
15,540
4,200
15,000
20,000
-
-
-
2,500
1,487
770
-
14,886
-
-
3,000
-
-
200
-
-
54,573
36,310
6,700		 Total
2025
£
8,932
43,010
51,942
5,767
3,165
-
8,932
19,740
20,000
2,500
770
-
-
-
43,010

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026

2 Income from donations and legacies

(Continued)

Restricted grants

During the year £1,487 was received from St Agnes Local Improvements Committee to use towards dampproofing for the Enys room.

During the year, £14,886 was received from Cornwall Council Community Capacity Fund to use towards the planning and design fees associated with a project to improve the accessibility, space and environment of the MMI.

During the year £3,000 was received the Bernard Sunley Foundation to use towards damp-proofing for the Enys room.

During the year £200 was received from Cornwall Council to use towards the hosting of VE/VJ Day. All funds were utilised during the year.

Unestricted grants

During the year, £20,000 was received from the National Lottery to be used towards general running costs of the MMI.

During the year, £15,000 was received from the Garfield Weston Foundation to be used towards general running costs of the MMI.

3 Income from other trading activities

Unrestricted Unrestricted
funds funds
2026 2025
£ £
Bar income 60,152 36,100
Cafe income - 19,060
Fundraising events 19,016 7,838
Cafe rental 13,708 5,274
Room hire 51,663 43,127
Sundry income - 300
Other trading activities 144,539 111,699

4 Income from investments

Unrestricted Unrestricted
funds funds
2026 2025
£ £
Interest receivable 99 -

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026

5 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2026 2025
£ £
Fundraising and publicity
Advertising 615 1,044
Other fundraising costs 48,874 34,909
Staff costs 58,867 64,858
Support costs 8,078 5,853
116,434 106,664

6 Expenditure on charitable activities

Provision of Provision of
village hall village hall
2026 2025
£ £
Direct costs
Depreciation and impairment 2,893 3,403
Rates and water 3,149 1,849
Insurance 4,104 5,503
Light and heat 22,014 16,602
Sundries 3,851 1,195
Repairs and renewals 17,177 12,696
Cleaning 13,560 13,865
Project expenses 14,877 -
81,625 55,113
Share of support and governance costs (see note 7)
Governance 8,669 7,362
90,294 62,475
Analysis by fund
Unrestricted funds 70,526 55,546
Restricted funds 19,768 6,929
90,294 62,475

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2026

7 Support costs allocated to activities

Telephone
Postage and stationery
Advertising
Bank charges
Governance costs
Analysed between:
Fundraising
Provision of village hall
Governance costs comprise:
Accountancy
8
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		 2026
£
1,182
192
4,580
2,124
8,669
16,747
8,078
8,669
16,747
2026
£
8,669
8,669
2026
£
2,640
2,893		 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

9 Trustees

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

10 Employees

The average monthly number of employees during the year was:

2026 2025
Number Number
Management and administration 3 3
Cafe and bar 3 4
Total 6 7

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026

10
Employees
Employment costs
Wages and salaries
Other pension costs
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:
Aggregate compensation		 (Continued)
2026
2025
£
£
57,944
63,881
923
977
58,867
64,858
2026
2025
£
£
24,000
22,280		 (Continued)
2026
2025
£
£
57,944
63,881
923
977
58,867
64,858
2026
2025
£
£
24,000
22,280
64,858
2025
£
22,280

11 Taxation

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

12 Tangible fixed assets

Freehold land
and buildings
Fixtures and
fittings
Computers
£
£
£
Cost
At 1 April 2025
330,000
91,309
272
At 31 March 2026
330,000
91,309
272
Depreciation and impairment
At 1 April 2025
-
72,167
130
Depreciation charged in the year
-
2,872
21
At 31 March 2026
-
75,039
151
Carrying amount
At 31 March 2026
330,000
16,270
121
At 31 March 2025
330,000
19,142
142		 Total
£
421,581
421,581
72,297
2,893
75,190
346,391
349,284

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.

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026

13
Stocks
Finished goods and goods for resale
14
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
15
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income
16
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2026
£
3,100
2026
£
729
5,239
5,968
2026
£
1,540
2,640
4,180
2026
£
923		 2025
£
2,920
2025
£
1,213
7,778
8,991
2025
£
1,267
2,160
3,427
2025
£
977

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 2026 (2025: £nil).

ST AGNES MINERS AND MECHANICS INSTITUTE (2013)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026

17 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
2025 resources expended 2026
£ £ £ £
Restricted fund 330,381 - - 330,381
St Agnes Parish Council 1,297 - (195) 1,102
Cornwall Community Capacity Fund - 14,886 (14,886) -
St Agnes Local Improvements Committee - 1,487 (1,487) -
Bernard Sunley Foundation - 3,000 (3,000) -
Cornwall Council - 200 (200) -
331,678 19,573 (19,768) 331,483
Previous year: 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

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.

£1,102 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 grilll. This does not reflect unspent monies but the assets held on the balance sheet less depreciation charged.

During the year, £14,886 was received from Cornwall Council Community Capacity Fund to use towards the planning and design fees associated with a project to improve the accessibility, space and environment of the MMI. This grant was fully utilised during the year.

During the year £1,487 was received from St Agnes Local Improvements Committee to use towards dampproofing for the Enys room. All funds were utilised during the year.

During the year £3,000 was received the Bernard Sunley Foundation to use towards damp-proofing for the Enys room. All funds were utilised during the year.

During the year £200 was received from Cornwall Council to use towards the hosting of VE/VJ Day. 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 2026

18 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
2025 resources expended 2026
£ £ £ £
General funds 111,937 205,644 (186,960) 130,621
Previous year: At 1 April Incoming Resources At 31 March
2024 resources expended 2025
£ £ £ £
General funds 117,206 156,941 (162,210) 111,937
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2026 2026 2026
£ £ £
At 31 March 2026:
Tangible assets 15,289 331,102 346,391
Current assets/(liabilities) 115,332 381 115,713
130,621 331,483 462,104
Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 31 March 2025:
Tangible assets 17,987 331,297 349,284
Current assets/(liabilities) 93,950 381 94,331
111,937 331,678 443,615

19 Analysis of net assets between funds

20 Related party transactions

There were no disclosable related party transactions during the year (2025 - none).