# **SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
Registered Charity No. 1178389
## **ANNUAL REPORT AND ACCOUNTS**
**For the year ended 30 April 2024**
**TRUSTEES’ REPORT**
The Council present their annual report together with the financial accounts of the Society for the year ended 30 April 2024.
## **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 – chair CM Jones J Brown – appointed 16/10/23 J McQuaid DG Cantrell J McNeil JA Cooper S Myers AW Dunlop RM Tiddy J Illingworth – resigned 16/10/23 MA Tylee
## **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.
On its own or in collaboration with others such as the Newcomen Society and the Institute of Mechanical Engineers, the Society had a full programme of lectures, mostly at Kelham Island Museum. The Society has also kept in touch with the membership and made sales of publications through the website. It has finally been possible to publish another Journal (No.5) in a series which had been dormant for some years.
After an extensive chasing of non payments, the number of Society members now stands at 159, 34 of whom have not shared an email to enable them to receive
1
## **SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **TRUSTEES’ REPORT continued**
regular updates on the Society’s activities. The number of followers on Facebook has increased to almost 800. Most new members join through the website.
Members of the Society have also been able to visit excavations taking place at the Walk Mill site on the Don and Sheffield Castle which has industrial levels above the medieval remains.
The Society is pleased to report that Wortley Top Forge Cottage is now fully integrated into the Top Forge site and can now function as a library and archive space as well as providing proper meeting and rest rooms for the trustees and volunteers.
The Society has continued in collaboration with local members of the Society for the Protection of Ancient Buildings, now renamed Sheffield Buildings Preservation Trust, 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. Plans have been submitted to Historic England, funding is being obtained and suitable professional contractors approached. 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 for a second year 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. Monitoring of developments at its various sites and elsewhere in South Yorkshire continues through the Field Recording Group. A particular project involves the derelict and damaged Butterthwaite Weir on the Blackburn Brook where the internal structure has been revealed.
## **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|
|Rockley Engine House|Scheduled Ancient Monument|
|Rockley Furnace|Scheduled Ancient Monument|
|Bower Spring Cementation|Furnace
Scheduled Ancient Monument|
|Hoylandswaine Nail Forge|Grade II listed|
2
## **SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **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 have had to pay £50 for the hire of our lecture room for each of our Sheffield talks. Trustee meetings held during the day at Kelham Island Museum were free of charge.
In future the charges at Kelham Island Museum are to increase substantially as noted in more detail under Plans for Future Periods.
Overall there has been a deficit on operating in the current period. This is explained by the payment of legal costs arising from the transfer of properties which were held in trust for the unincorporated Society, into the direct ownership of the CIO. This was a long and complex process which is now complete. The trustees have considered that it is time to propose an increase in subscriptions. A proposal will be put to the next AGM.
## **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 the usual series of 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
3
SOUTH YORKSHIRE tNDUSTRIAL IUSTORY SOCIETY CIO
TRUSTEES, REPORT eontiDued
intornied of activity and developments. They have also been llabOratIng with other heritage
organisations and continuing to work on publications.
In future we will have to pay £50 pl8 out of bouts statrmg costs of £40 for leCtr¢S which are
held tn the evenings in Sheffield. Trust meetings which are held during the afternoon at
Kelham Island Museun] are charged £50. Initial iuvestigations indicate that increases of this
nature for room hire ar¢ not uncoD]mon. The trustees are rcviewing whether other locations
with lower costs would be suitable and available.
With Top Forge Cottage now fully integrated with the main Forge buildings and displays, and
the area of the works yard now clear of obstruction& plan8 have been drawn up for a scheme
of archaeological reseaTch infornied by old pictures, documentary evidence alld revealed
features. Thc Society is mindful that this is a Scheduled Ancient Monument and a proper plan
must be agreed WAth Historic England must be consult¢d before anytbing can proceed and funds
so
Work will continue at Bower Spring with a viewto cleaTing vegetation during the summer and
giving a¢¢ess to specialist contwtors hopefully by the aulumL Raising fidS is in progre&s
with various amounts committe
On behalf of the Tr[ets,
A M J Ball President
12 July 2024
## **SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES**
|**for the Year ended 30 April 2024**
**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 (expenditure) / income**
Total funds brought forward
Total funds carried forward|**Restricted**
**£**
-
-
-
-
-
-
3,620
**3,620**|**Unrestricted**
**£**
1,891
189
364
2,444
975
3,804
4,779
(2,335)
200,595
**198,260**|**2024**
**2023**
**Total Funds**
**Total Funds**
**£**
**£**
1,891
77,531
189
149
364
304
2,444
77,984
975
415
3,804
3,405
4,779
3,820
(2,335)
74,164
204,215
130,051
**201,880**
**204,215**|
|---|---|---|---|
6
sourH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO
BALANCE SHEET
At 311 April 2024
2024
2023
ote
Fixed Assets and Investments
259331
259,331
Current Assets
Stock of books
Cash at bank
Deposit account
Cutrent account
C8sh in hand
Prepayments and ac¢nl income
500
500
18.093
6,741
27.729
8,567
311
25.645
10,348
47,151
Liabilities
Creditors: amounts falling due within one year
Short terni fiDancing loan
Outstanding expenses
io
(21,707)
(650)
(22,357)
(3,096)
{3.096)
Creditors: amounts falling due after more than one year
Capital Loan
(80,000)
(80,000)
Total Net Assets
201180
204215
Aceumulated Funds
Restricted
UnrestTiCted
12
3.620
198,260
201,880
3,620
200,595
204215
general
The fmancial statements were approved by th¢ Trustees on 12 July 2024
al are signed on their behalf by.
A. M. J. Ball
President
**SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **For the year ended 30 April 2024**
## **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.
8
**SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **For the year ended 30 April 2024**
## **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.
9
## **SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **For the Year ended 30 April 2024**
|**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
Donated books and publications
**5. COST OF GENERATING VOLUNTARY INCOME**
Costs of published books (inc distribution)
**6. CHARITABLE ACTIVITIES**
Lecture costs
Insurance
Legal re purchase of cottage
**Restricted**
Legal re property transfers
**(note)**
Support costs - see note 7
Governance costs
Miscellaneous|**2024**
**£**
-
-
-
1,670
221
1,891
50
109
30
189
975
975
340
111
-
2,620
288
350
95
3,804|**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|
The property transfers were from the previous unincorporated Society to the CIO to simplify administration and comply with legal requirements.
10
**SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **For the Year ended 30 April 2024**
## **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**
|**2024**
**£**
**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|**2023**
**£**
100
6,500
2,730
250,000
1|
|---|---|
||259,331|
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, a short term loan given by the Trust to the Society to assist with cash flow, was repaid in full
The Trust waived an amount of £103 due regarding rates. This was treated as a donation.
## **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.
11
## **SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **For the Year ended 30 April 2024**
|**For the Year ended 30 April 2024**|||||
|---|---|---|---|---|
|**12 RESTRICTED FUNDS**
Bower Spring Furnace conservation|**Balance at**
**01/05/2023**
**£**
3,620|**Incoming**
-
-|**Outgoing**
**£**
-|**Balance at**
**Transfer**
**30/04/2024**
-
3,620
-
3,620|
||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**
|Fixed assets
Current assets
Current liabilities
Non current liability|**Unrestricted**
259,331
22,025
(3,096)
(80,000)
198,260|**Restricted**
**Total**
-
259,331
3,620
25,645
-
(3,096)
-
(80,000)
3,620
201,880|
|---|---|---|
12