# **SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
Registered Charity No. 1178389
## **ANNUAL REPORT AND ACCOUNTS**
**For the year ended 30 April 2023**
**TRUSTEES’ REPORT**
The Council present their annual report together with the financial accounts of the Society for the year ended 30 April 2023.
## **CONTACT ADDRESS**
75, Banner Cross Road, Sheffield, S11 9HQ.
## **STRUCTURE GOVERNANCE & MANAGEMENT**
The Society was registered as a Charitable Incorporated Organisation on 15 May 2018 and is governed by its constitution which vests control and responsibility in a Board of Trustees on behalf of the membership. On registration it took over the assets, liabilities and activities of an unincorporated charitable body of the same name.
## **Trustees**
AMJ Ball CM Jones (appointed 10/10/22) DA Bayliss (resigned 10/10/22) J McQuaid DG Cantrell J McNeil JA Cooper S Myers AW Dunlop RM Tiddy J B Harrison-Jennings (died 23/01/23) MA Tylee J Illingworth
The trustees regret to announce the death of Mr Harrison-Jennings.
## **OBJECTIVES AND ACTIVITIES**
The objectives are the education and instruction of the public by the furtherance of the study, investigation, description and preservation of the historical and archaeological evidence of the trades which have been carried on in South Yorkshire from the earliest times to the recent past.
The Society was able to return to a full programme of in-person lectures, mostly at Kelham Island Museum. The Society has also kept in touch with the membership and made sales of publications through the website. The number of Society members stands at 178 (144 of which can receive regular email updates) and the number of followers on Facebook has increased to over 730.
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## **SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **TRUSTEES’ REPORT continued**
During the year the Society was able to achieve a long-standing objective of acquiring Top Forge Cottage, formerly a residential property sitting within the curtilage of the Wortley Top Forge site. Part of the cottage originally formed part of the working ironworks and the Society was able to agree with South Yorkshire Trades Historical Trust Limited, as manager of the site, a strategy for reintegrating the cottage and its garden into the overall museum complex. At the year end, work was in progress to attend to the interior of the cottage, which does not come within the scope of the listing. The garden used to be the works yard and this was cleared of vegetation.
The purchase was made possible because of the goodwill of the owner and a very generous donation, augmented by a loan, from a member. Other members also made significant donations and the Society already held a large designated fund for the purpose.
Towards the end of the year, the Society began a collaboration with local members of the Society for the Protection of Ancient Buildings at the Bower Spring site. This project involves studying the site with a view to restoration work and an improvement of the recording and interpretation. A review of the scheduled area is also under way as part of the archaeology associated with the monument is currently not properly protected.
The Society was pleased to continue assisting with the South Yorkshire Local Heritage List. This is a project to identify and list heritage assets which currently do not have any national protection. Members of the Society sit on a committee to consider the merit of nominations.
A number of other outside research projects have contacted the Society and assistance has been provided with the knowledge and help of the membership. Work has continued on regular publications with the Suffolk Works book being printed and distributed. Monitoring of developments at its various sites and elsewhere in South Yorkshire continues through the Field Recording Group.
## **Assets**
In following its objectives, the Society has beneficial freehold ownership of the following historical heritage properties:
|Wortley Top Forge|Grade I listed and Scheduled Ancient Monument|
|---|---|
||(cottages are II)|
|Top Forge Cottage|Grade II listed (added in year)|
|Rockley Engine House|Scheduled Ancient Monument|
|Rockley Furnace|Scheduled Ancient Monument|
|Bower Spring Cementation|Furnace
Scheduled Ancient Monument|
|Hoylandswaine Nail Forge|Grade II listed|
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## **SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY**
## **TRUSTEES’ REPORT continued**
In addition the Society owns a collection of historic stationary steam engines and other machinery and artefacts mostly held at Wortley Top Forge.
The properties and machines are managed through a formal Memorandum of Understanding by South Yorkshire Trades Historical Trust Limited (a registered charity).
The trustees consider that the activities and achievements of the Society in the past year continue to meet the public benefit requirements of the Charities Act.
## **FINANCIAL REVIEW**
The Society normally derives its funds from membership fees, sales of publications and donations, and seeks grants or similar funding for the maintenance of its properties. Income from subscriptions is declining due to the majority of members now paying at the reduced rate of £8. However, the small number of new members do tend to pay at the ordinary rate of £12. There is also an increasing trend for speakers to request speaker fees or donations and we now have to pay £50 for the hire of our lecture room for each of our Sheffield talks. However, trustee meetings are now held during the day at Kelham Island Museum free of charge.
Overall there has been a small surplus on operating in the current period. The trustees are still considering whether it is time to propose an increase in subscriptions. Currently there are around 20 members with payments overdue.
As mentioned above, the acquisition of Top Forge Cottage has been a key activity faced by the Society both financially and practically.
## **Investment & reserves policy**
The trustees invest the funds of the Society so as to generate short term income for the use of the Society. All funds are placed with registered deposit takers. Reserves are maintained to ensure that the Society may meet running costs and publication obligations for the next year.
## **PLANS FOR FUTURE PERIODS**
The lecture programme is planned to continue with in-person meetings at Kelham Island Industrial Museum and elsewhere. The trustees will continue to use the website, Facebook and other electronic means to keep the membership informed of activity and developments. They have also been collaborating with other heritage organisations and continuing to work on publications. One publication is nearing completion at the year end.
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## **SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY**
## **TRUSTEES’ REPORT continued**
The major project of reintegrating Top Forge Cottage into the Wortley Top Forge industrial complex will continue for some time. Ideas for the cottage include facilities for meetings, a “mess room” for volunteers, storage of archives and displays such as pictures and documents for visitors. The preliminary removal of vegetation in the garden has revealed a number of historical features which will require further investigation. The Society is mindful that this is a Scheduled Ancient Monument and Historic England must be consulted before anything other than superficial works can be considered. There is a proposal to involve professional archaeologists in a full study involving targeted excavation.
On behalf of the Trustees,
A M J Ball President 18 September 2023
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Independent examiners report to the trustees of
soirrH YORKSHIRE INDUSTRIAL HISTORY %)CIErY
for the year ènded 30 April 2023
I report on the accounts of the thaiity for the year anded 30 April 2023 whith are set out on pages6 to l?.
Respeclive responsibilities of trustees and examiner
The charity's trustees are SK)nSj1e for the preparation of the acJ)Junts. Tr tharivs trustees consKler
that an audr( is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and
thal an independent examination is need.
It is my responsibilty to:
examine the acUnts under section 145 of the 2011 Act:
follow the prOdureS laid (Jown in the general Directions given by the Charity Commissron under
section 145(5)(b) of the 2011 Ad; arKI
slate whether particjjlar matters have come to my attenlx)n.
Basls of independent examinerfs report
examination was carried out in accordance with the general Direct¥Jns given by the Charity
Commission. An examination indudes a revEw of Ihe acwunting rec))rds kept by the charity arKI a
comparison of the actounts presented with those rers. tt also indudes wnsideration of any unusual
items or disdosures in the accounts, and seektng explanations from you as tNstees conceming any suth
matters. The procedures undertaken do not provhde all the evtdeno that would be required in an audit and
onsequently no opinDn is given as to vthether the accounts Plwt a Iwe and fair Vie and the report is
limited to those matters set out in the ststement below.
Independent examinerfs slatement
In connection with my examination. no matter has rne to my attention:
vthich gNes me reasonable cause to believe tw n any mateiial resFtcL the requirements..
to keep acnting reconjs in acran wilh section 130 of the 2011 Act. arKI
to prepare am)unts lch accord wtth the accountirYJ recor(Is and MPty with the accounting
requirerrEnts of the 2011 Act have not nL. or
to which. in my opinion. attention sh)ukJ be drawn in order to enable a proper understandlng of the
accounts to be reached.
Mr Heera Singh FMAAT
HSLAccountancy Solutions Lid
Enterprise House
61a Carr H¢JJse
Doncaster
DN12BY
Date: 19° September 2023
## **SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES**
|**for the Year ended 30 April 2023**
**notes **
**Incoming resources**
Incoming resources from generated funds
Voluntary income
3
Activities for generating funds
4
Investment income
**Resources expended**
Costs of generating funds
Costs of generating voluntary income
5
Charitable activities
6
**Total resources expended**
**Net incoming resources**
**Transfer between funds**
**Net movement in funds**
Total funds brought forward
Total funds carried forward|**Restricted**
**£**
74,783
-
-
74,783
-
2,043
2,043
72,740
(75,470)
(2,730)
6,350
**3,620**|**Unrestricted**
**£**
2,748
149
304
3,201
415
1,362
1,777
1,424
75,470
76,894
123,701
**200,595**|**2023**
**2022**
**Total Funds**
**Total Funds**
**£**
**£**
77,531
4,835
149
145
304
39
77,984
5,019
415
-
3,405
1,474
3,820
1,474
74,164
3,545
-
-
74,164
3,545
130,051
126,506
**204,215**
**130,051**|
|---|---|---|---|
6
## **SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **BALANCE SHEET**
|**At 30 April 2023**
**note**
**Fixed Assets and Investments**
8
**Current Assets**
Stock of books
Cash at bank
Deposit account
Current account
Cash in hand
Prepayments and accrued income
**Liabilities**
Creditors: amounts falling due within one year
Short term financing loan
10
Outstanding expenses
Deferred income
Creditors: amounts falling due after more than one year
Capital Loan
11
**Total Net Assets**
**Accumulated Funds**
Restricted
12
Unrestricted
general
designated
13|**2023**
**£**
259,331
500
27,729
8,657
7
10,348
47,241
(21,707)
(650)
(0)
(22,357)
(80,000)
**204,215**
3,620
200,595
-
**204,215**|**2022**
**£**
9,331
500
117,425
4,882
-
235|
|---|---|---|
|||123,042|
|||-
(965)
(1,357)|
|||(2,322)|
|||-|
|||**130,051**|
|||6,350
33,701
90,000|
|||**130,051**|
The financial statements were approved by the Trustees on 18 September 2023 and are signed on their behalf by;
A M J Ball President
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**SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **For the year ended 30 April 2023**
## **1. ACCOUNTING POLICIES**
## **a) General information and basis of preparation**
South Yorkshire Industrial History Society is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission in England & Wales. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities is given in the Trustees’ Report.
The charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance with 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 (FRS102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice.
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS102 Section 1A.
The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **b) Grants and voluntary income**
All grants and voluntary income are accounted for in the year when they are received unless receipt has become certain at the balance sheet date.
## **c) Other income and expenditure**
Other income and expenditure is accounted for on the accruals basis.
## **d) Investments**
All investments stated as current, being monetary assets, are stated at cost.
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**SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **For the year ended 30 April 2023**
## **ACCOUNTING POLICIES (cont)**
## **e) Stocks**
Stock consist of unsold copies of Water Power on the Sheffield Rivers and other published books at an estimate of realisable future value. Journals and donated books are not considered to have a value unless sold.
## **f) Loose tools and equipment**
Loose tools and equipment owned by the Society for the purposes of maintaining and operating the properties and the machinery is not capitalised but is written off as expenditure when incurred.
## **g) Heritage Assets**
Heritage assets acquired prior to 2011 are not capitalised because the Trustees consider that it would be impractical to arrive at a value for assets which were acquired for a nominal fee or were donated, are mostly unique and for which there is no reliable replacement cost information.
Assets acquired since then, for which there is a reliable cost, are stated at cost. The trustees do not consider that the value has been impaired since acquisition.
## **h) Donations in kind**
Donations in kind which are intended for repairs or maintenance of sites or exhibits are accounted for using the trustees’ estimate of value. Donations which are intended as exhibits are included within the nominal £1 brought forward on the balance sheet.
No value is attributed to the activities of the trustees or voluntary helpers.
## **i) TAXATION**
As a registered charity, the Trust does not pay tax on its income.
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## **SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **For the Year ended 30 April 2023**
|**3 VOLUNTARY INCOME**
Donations for purchase of cottage
Gift aid on cottage donations
**Restricted total**
Subscriptions and tax recovered
General donations
**4 ACTIVITIES FOR GENERATING FUNDS**
Water Power on the Sheffield Rivers
Other published books
Royalties
Donated books and publications
**5. COST OF GENERATING VOLUNTARY INCOME**
Costs of published books
**6. CHARITABLE ACTIVITIES**
Lecture costs
Insurance
Legal re purchase of cottage
**Restricted**
Support costs - see note 7
Governance costs
Miscellaneous|**2023**
**£**
65,196
9,587
74,783
1,512
1,236
2,748
20
117
-
12
149
415
415
333
-
2,043
565
350
114
3,405|**2022**
**£**
-
-|
|---|---|---|
|||-
2,105
2,730|
|||4,835|
|||10
108
27
-|
|||145|
|||-|
|||-|
|||30
221
-
888
175
160|
|||1,474|
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**SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **For the Year ended 30 April 2023**
## **7. OTHER COSTS**
Governance costs consist of room hire for the committee, accountancy costs and public meetings.
Support costs consist of postage, stationery, subscriptions, website and miscellaneous costs and are allocated appropriate to the activities supported.
## **8. FIXED ASSETS AND INVESTMENTS**
|**2023**
**£**
**Investment**
£100 shares in Portland Works
100
**Heritage Assets**
Buxton & Thornley engine at cost
6,500
Beam engine "Elizabeth" at donated value
2,730
Top Forge Cottage at cost - freehold
250,000
Nominal value of other heritage assets
1
259,331|**2022**
**£**
100
6,500
2,730
-
1|
|---|---|
||9,331|
The Society has beneficial ownership of a number of historic properties, machines and other artefacts which are carried in the balance sheet at a nominal £1 because there is no reliable original cost or any meaningful current value.
Details of the properties are shown in the Trustees' Report.
## **9. TRUSTEES REMUNERATION**
Members of the Council received no direct remuneration or expenses other than a reimbursement of direct expenses incurred on behalf of the Society.
## **10. RELATED PARTY**
The trustees consider South Yorkshire Trades Historical Trust Limited to be a related party because a majority of the trustees act for both organisations and the Trust manages the assets on behalf of the Society. During the year the Trust gave the Society a short term loan, unsecured, of £25,000 to assist with cash flow during the acquisition of Top Forge Cottage. £3,293 was repaid before the year end and £10,000 has been repaid since.
## **11. CAPITAL LOAN**
The loan of £80,000 towards the purchase of Top Forge Cottage has been given by a member. It is secured but carries no interest and has no fixed repayment date.
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## **SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
|**For the Year ended 30 April 2023**||||||
|---|---|---|---|---|---|
||**Balance at**||||**Balance at**|
||**01/05/2022**|**Incoming**|**Outgoing**|**Transfer**|**30/04/2023**|
||**£**||**£**|||
|**12 RESTRICTED FUNDS**||||||
|Bower Spring Furnace conservation|3,620||||3,620|
|Donated value of beam engine Elizabeth|2,730|||(2,730)||
|Purchase of Top Forge Cottage||74,783|(2,043)|(72,740)||
||6,350|74,783|(2,043)|(75,470)|3,620|
|The transfers recognise that the funds have|been spent|on capital|assets and|thus their purpose||
|has been achieved.||||||
|**13 ANALYSIS BETWEEN FUNDS**||||||
|||**Unrestricted**|**Restricted**||**Total**|
|Fixed assets||259,331|-||259,331|
|Current assets||43,621|3,620||47,241|
|Current liabilities||(22,357)|||(22,357)|
|Non current liability||(80,000)|||(80,000)|
|||200,595|3,620||204,215|
The designated fund, which was set aside to be spent on acquiring Top Forge Cottage, has now been used for that purpose.
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