## **THE BINGHAM LIBRARY TRUST - ANNUAL REPORT 2024 25**
**Charity Name:** Bingham Library Trust Limited
**Charity Registration Number:** 1163250
**Company Number:** 09317378
**Registered Address:** Bingham House, 1 Dyer Street, Cirencester, GL7 2PP
**Our Mission**
We will re-imagine and sustain Daniel Bingham’s ‘access to all’ legacy in improving life and well-being; developing knowledge and advancing education through the arts, music, books, leisure and community activities. Enabled and facilitated through our property assets, in partnership with others, for and on behalf of Cirencester and the wider public.
## **Our Vision**
To create opportunities for improving the well-being of individuals who live in and around Cirencester and to re-imagine Daniel Bingham’s legacy for the benefit of future generations.
## **Our Values**
**Property Stewardship:** using the property endowed and managed by the Trust to enable the delivery of the vision and mission statement. **Partnership Focused:** to lead and collaborate with others. **Public Facing:** to create a sense of community and opportunity, through volunteering and access to learning, promoting reading and the arts, alongside proactively collecting and looking after local archives.
## **Our Trustees**
Shirley Alexander David Fowles Karen Fraser Andrew Lichnowski Joanna Noles Ellie Pridgeon (up to 2[nd] February 2025) Gary Selwyn
## **Aims and Activities:**
For the benefit of Cirencester, to advance public education & the arts/music. Also, to provide facilities for recreation or leisure, in the interests of social welfare, to improve life for people who live in or visit the area and/or people who have particular needs by reason of youth, age, infirmity, disability, poverty or social and economic circumstances.
The main activities of the Trust are outlined within this report.
## **Articles of Association:**
The company was incorporated on 18[th] November 2014; the Articles of Association being amended by Special Resolution on 23[rd] February 2015, removing the words ‘and culture’ from its charitable purposes.
The Trust’s filing history as a company limited by guarantee can be found via:
https://beta.companieshouse.gov.uk/company/09317378/filing-history
## **Public Benefit**
The Trust in publishing this annual report confirms, under the Charities Act 2011, that it has complied with, and had due regard for, the ‘public benefit requirement’. The beneficial aspects of what the charity does can be evidenced and benefits the wider public of Cirencester.
## **1. Introduction**
- 1.1 This is the ninth Annual Report of the Bingham Library Trust; following its first full year of operation in 2016-17.
- 1.2 We are the Daniel Bingham Foundation! This is the public facing name of the Trust which was first adopted in 2024 to recognise our historic benefactor at the forefront of all we do. Whilst we value our origins as a library, this is not a core part of what the Trust does in 2025 and has in the past caused confusion, with the public library run by the County Council, with whom we work closely with.
- 1.3 The work of the charity was previously overseen under the sole-trusteeship of Cirencester Town Council and subsequently new governance arrangements were established with a company limited by guarantee and a new Charity.
- 1.4 The management service arrangement with Cirencester Town Council was extended for a further four years in 2023; this is now overseen by a formal service level agreement.
- 1.5 A joint resolution was signed in 2017 between Cirencester Town Council, acting as sole Trustee of the Bingham Library and Art Gallery Foundation, Charity no. 311488, and the newly formed Bingham Library Trust Limited Charity no. 1163250, Company no. 09317378.
- 1.6 The signed resolution, which forms part of the public record, confirms the decisions made by the respective organisations noting that the day-to-day management and full responsibility for all property assets and permanent endowment, held in the freehold title of the Bingham Library and Art Gallery Foundation, has been transferred to the Bingham Library Trust Ltd. As of July 2023, these freehold titles are in the process of being transferred from the Foundation to the Trust.
- 1.7 Income derived from these properties is used for their upkeep and maintenance, with any net income being used for the benefit of the newly formed Trust’s charitable purposes.
- 1.8 All cash and investment holdings held in the name of the Bingham Library and Art Gallery Foundation or Cirencester Town Council, acting as sole trustee, were transferred to the newly formed charity and company limited by guarantee with effect from the 2016-17 financial year.
- 1.9 The Trust values the support and assistance received from Cirencester Town Council, the Corinium Museum and Gloucestershire Archives and in 2024-25 developed partnerships with New Brewery Arts, the Civic Society and the Arts Society Corinium.
- 1.10 The Trust is supported by Clerk, Assistant Clerk and Senior Projects Officer as well as a wide range of specialists commissioned on a consultancy/ad-hoc basis.
## **2.**
## **Property Assets**
- 2.1 Day to day management of commercial premises comprising Bingham House, Dyer House and the Bingham Cottage is carried out by Cirencester Town Council on behalf of the Trust.
- 2.2 The Trust also leases land to Gloucestershire County Council in respect of the Cirencester Bingham Library and parking facilities to the Fleece Hotel; and has allotments, garages and two residential properties in Purley Road.
- 2.3 The principal income generated from these properties is used towards the upkeep and maintenance with any surplus being used and/or invested for the long-term benefit of the Trust.
- 2.4 Whilst current commercial tenancies remain viable and provide the Trust with a secure income stream, the Trust continues to remain mindful of risks which could affect this in the future.
- 2.5 The C-Hub, continues to be fully operational as a valued community resource, which is leased to the Town Council, along with the wider community use of Bingham House which includes research accommodation and collections storage, as well as being the home of an art gallery, the Local Information Centre, Town Council offices and Cirencester Band.
- 2.6 The primary function of the Gallery is to host the Trust’s summer exhibition which in 2024-25 was guest curated by Laurie Plant. The centre piece being Laurie’s contemporary interpretation of Cirencester, alongside examples of our collection, using various mediums of art, which depict a valuable social history of Cirencester’s history.
- 2.7 A review of how the space is used in the future was carried out by Trustees in 2023 and as part of the long-term strategic vision plans, alongside permanent exhibition space, pop up exhibitions and an area for guest artists will be created; as well as space for sculptures – as part of our outreach work with local primary schools and to raise awareness about the extensive use of plastic, children created art sculptures by recycling plastic material.
- 2.8 The Trust is also exploring ways in which it can promote and encourage members of the public to access the collection of art and photographs, including greater scope for innovation in the future.
## **3. Finance**
- 3.1 During 2024-25, the Trust regularly reviewed its finances and continues to recognise the challenge ahead in maintaining each of the properties it is responsible for and ensuring that they are fit for purpose.
- 3.2 Whilst continuing to adopt a policy of spreading its financial risk and growth across four primary investments, the Trust remains committed to reviewing its investment policy as part of a long-term strategic plan.
- 3.3 In seeking to extend its investment portfolio in the long term, the Trust is considering options including investment in an ethical fund which directly benefits any of its aims and objectives such as the arts, as well as considering a growth strategy and the outputs it wants to achieve through investment.
- 3.4 The value of investment funds held by the Trust, as of March 2025, was circa £449k compared to year end accounts in 2024 of £407k.
- 3.5 Cash at bank, in hand and in reserve at the year-end of March 2025 was circa £156k compared with £171k in March 2024.
- 3.6 During 2024-25, the Trust’s total expenditure was circa £226K; this was part met by income from investments and property of circa £182k. Expenditure exceeded income by circa £44k which was met from the general reserve. The estimated overspend and reliance on reserves was £36k at the beginning of the financial year. The main issues relating to excess expenditure were utility costs and ongoing maintenance works at Bingham House and Dyer House.
## **4. Strategic Framework**
- 4.1 The Trust has taken the lead in re-imagining Daniel Bingham’s legacy by creating opportunities for improving the well-being of individuals who live in and around Cirencester; through developing knowledge and advancing education through the arts, music, books, leisure and community activities. Enabled and facilitated for future generations through a strategic framework.
- 4.2 The Trustees prepared the framework considering the following:
- implications and impact of COVID;
- an asset portfolio review, including banking and investments;
- identifying new partners and opportunities for partnership working;
- reviewing future use of the gallery;
- reviewing the Friends of the Gallery and introducing a Trust Membership.
4.3 The framework sets out the Vision, Mission Statement and Values of the Trust, for the future, which will be delivered through five key themes:
- Governance and Management
- Purpose
- Property
- Partnership
- Public
- 4.4 Each theme is overseen by a dedicated Trustee, who fulfils the role of lead point of contact working closely with officers of the Trust and those of Cirencester Town Council through the service level agreement; the strategic framework outlining key objectives, strategies and measures.
- 4.5 The funding model outlined in the strategic overview shows a trajectory of increasing our investment holdings to derive an income to fund grants and bursaries which align with the vision and mission statement of the Trust, alongside building a capital fund to maintain and develop the Trust’s property portfolio, whilst maintaining a minimum general reserve.
- 4.6 The Trust monitors progress against its targets through an annual forward plan, as well as carrying out an annual governance and risk review.
## 4.6.1 Governance and Management
**Key Objectives:** to broaden the knowledge and skills base of the Trust and increase the number of Trustees and introduce an investment strategy linked to the medium-term financial planning of the Trust
**Strategies:** identify knowledge and skills needed by the Trust to deliver the vision, to carry out a Trustee knowledge and skills audit and identify gaps and training needs, to provide training and development and advertise Trustee vacancies to provide broader knowledge and skills required by the Trust, to prepare an investment strategy linked to the medium-term financial planning of the Trust
**Update:** we have raised awareness about Trustee opportunities, through our regular newsletter, social media and at public events hosted at Bingham House.
## 4.6.2 Purpose
**Key Objectives:** to communicate what the Trust does clearly and widely, increase access to the Trust’s collection and promote awareness of public art
**Strategies:** to re-brand and develop website and social media presence, including consideration on name and logo, creating a succinct strapline to promote the Trust, to increase the digitisation of the Trust’s collection and promote awareness of public art
**Update:** we have successfully re-branded and created a new name and logo, creating a succinct strapline to promote more clearly what we do, ‘where Cirencester’s people, history and art come together’; we are also actively exploring options for digitising the collection and making available on a more regular basis access to our photograph collection.
## 4.6.3 Property
**Key Objectives:** to create a permanent exhibition space at Bingham House and establish options for long term future use and purpose of all property assets
**Strategies:** establish a meeting space in the C-Hub for previous users of the Gallery, explore private sector funding of art loans and exhibition sponsorship, create a permanent exhibition programme for 2024 at the Gallery and conduct an options appraisal for the long-term future use and purpose of all property assets
**Update:** the C-Hub is now leased to the Town Council (CTC) and includes meeting space which subject to availability and kind permission of CTC, could be used by the community, a permanent exhibition space showcasing examples from the Trust’s collection along with information boards which provide an overview of Daniel Bingham’s life and legacy.
## 4.6.4 Partnership
**Key Objectives:** to work collaboratively with core partners
**Strategies:** to identify partnership working opportunities and explore what the Trust can offer, to host tours of Bingham House and hold workshop sessions to explore opportunities with potential and existing partners
**Update:** new partnership collaborations are being explored with the Civic Society and the Arts Society Corinium, as well as re-connecting with New Brewery Arts and Bingham Hall.
## 4.6.4 Public
**Key Objectives:** to create a volunteering and free to access friends of the Bingham Library Trust membership
**Strategies:** to identify volunteering tasks and hold taster days for volunteers and members, to create a membership pack and promote through social media feeds opportunities
**Update:** work is in progress to create a membership offer that can be promoted alongside building on our volunteer offer and opportunities
4.7 Due to a range of resource issues and other priorities, progress continues to be limited; the Trust is committed to accelerating progress in 2025-26 and the Town Council is supporting this with dedicated resources.
## **5. In Summary**
The Trust’s re-branding to the public facing name of Daniel Bingham Foundation, has set the tone of voice and become the window through which the public and our partners gain access to his legacy. This forms an important part of the strategic framework which maps the vision for more effective and inclusive communication and engagement with the community, ensuring that Daniel Bingham’s legacy lives on for generations beyond our lifetime, remaining relevant and fulfilling its charitable objectives in all that it does.
**Andrew Tubb Advisor to the Bingham Library Trust**
## **Bingham Library Trust**
## **Registered Charity Number 1163250**
**Report to The Trustees**
**Year Ended March 31st 2025**
1
## **Bingham Library Trust Report of the Trustees**
## **Year Ended March 31st 2025**
## **Principal Activities**
The charitable purposes of the charity are, for the benefit of Cirencester and the surrounding areas to:
1. Advance public education by supporting library facilitaties and by promoting the appreciation of Arts, including Music, and
2 Provide facilities for recreation or leisure time occupation, in the interests of social welfare, with the object of improving the conditions of life particularly for people who live in or visit the area and/or people who have particular needs by reason of their youth, age, infirmity or disability or poverty of social and economic circumstances
The Trust operates its financial activities through a Company Limited by Guarantee. Bingham Library Trust Limited, company number 09317378. The Trustees also serve as Directors of the Limited Company.
## **Trustees during the Year**
Gary Selwyn (Chair) Shirley Alexander John Fowles Karen Fraser (resigned 25 July 2024) Andrew Lichnowski Joanna Noles Dr Ellie Pridgeon (resigned 4 February 2025)
Approved by .................................................................................... on behalf of all the trustees
Date ............................................
2
## **Bingham Library Trust**
##
## **Year Ended March 31st 2025**
|**Bingham Library Trust**
**Statement of fnancial activities**
**Year Ended March 31st 2025**||||
|---|---|---|---|
|||**2025**|**2024**|
|||£|£|
|Rental and Services Income|1|171,631|174,602|
|Direct Expenditure||(111,703)|(116,237)|
|Gross Income / (Expenditure)||59,928|58,365|
|Interest and Investment Income|2|10,890|11,590|
|Administrative Expenses||(107,482)|(103,153)|
|Net Income / (Expenditure)||**(36,664)**|**(33,198)**|
3
## **Bingham Library Trust Balance Sheet**
## **Year Ended March 31st 2025**
|**Bingham Library Trust**
**Balance Sheet**
**Year Ended March 31st 2025**||||
|---|---|---|---|
|||**2025**|**2024**|
|||£|£|
|**Fixed Assets**||||
|Tangible Assets||16,573|9,498|
|Heritage Assets||206,335|206,335|
|**Investments**||||
|Investment Property|3|2,962,003|1,500,000|
|Investments|4|458,376|431,142|
|**Total Fixed Assets & Investments**||3,643,287|2,146,975|
|**Current Assets**||||
|Debtors||10,923|11,841|
|Cash at bank and on hand||146,384|171,566|
|**Total Current Assets**||157,307|183,407|
|**Current Liabilities**||||
|Amounts falling due within one year|5|(43,328)|(25,690)|
|**Total Current Liabilities**||(43,328)|(25,690)|
|**Net Current Assets**||113,979|157,717|
|**Total Assets**||**3,757,266**|**2,304,692**|
|**Represented by**||||
|Unrestricted funds||795,263|804,692|
|Endowment funds|3|2,962,003|1,500,000|
|Total Funds||**3,757,266**|**2,304,692**|
Signed by ..................................................................... on behalf of all the trustees
Date ............................................
4
## **Notes to the Financial Statements**
## **1 Rental and Services Income**
|**1 Rental and Services Income**||||
|---|---|---|---|
|Services Income
Community Hub
Hiring Income
Other Income
Total
**2 Interest and Investment Income**
Investment Income
Bank Interest
Total|**2025**
**£**
154,621
6,493
0
10,517
171,631
**2025**
**£**
10,853
37
10,890|**2024**
**£**
162,010
9,585
2,500
507
174,602||
||||**2024**
**£**
11,510
80
11,590|
## **3 Investment Property**
The Trust generates income from commercial premises comprising Bingham House, Dyer House and the Bingham Cottage. The Trust also leases land to Gloucestershire County Council in respect of the Cirencester Bingham Library and parking facilities to the Fleece Hotel; and has allotments, garages and two residential properties.
## **Notes to the Financial Statements (Continued)**
## **4 Investments**
The Trust has a policy of spreading its financial risk and optimising growth across four primary investments:
|**Investments held at Market**
**Value**
Blackrock
CCLA COIF
M & G Charifund
Barclays Wealth
Total
**Investments held at cost**
- Deposit fund
Total Value of Investments
**5 Amounts falling due within one year**
Creditors
Accruals and deferred income
Total|**Cost**
**£**
**Unrealised**
**(Loss) / Gain**
**£**
**2025**
**Valuation**
**£**
**2024**
**Valuation**
**£**
57,323
(15,282)
42,041
42,300
67,239
33,771
101,010
96,614
30,253
(175)
30,078
28,845
233,391
42,959
276,350
254,486
388,206
61,273
449,479
422,245
**2025**
**Additions /**
**(Disposals)**
**2024**
**£**
**£**
**£**
8,897
-
8,897
**458,376**
**431,142**
**2025**
**2024**
**£**
**£**
29,858
18,750
13,470
6,940
43,328
25,690|
|---|---|
The Trustees Bingham Library Trust Bingham House 1 Dyer Street Cirencester Gloucestershire GL7 2PP
22nd September 2025
## **Independent examiner’s report to the trustees of Bingham Library Trust (Registered Charity No.1163250 )**
I report to the trustees on my examination of the accounts of the Bingham Library Trust (the Trust) for the year ended 31st 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 (‘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 carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. 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 content of accounts set out in the Charities (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.
IAC Audit & Consultancy Ltd. Registered in England No 09753929 VAT Reg No 220 6715 38 23 Westbury Road , Yarnbrook, Wiltshire, BA14 6AG Email: admin@audit-iac.com Tel:01225 775511
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Kevin Rose ACMA
Date: 22nd September 2025