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2025-04-30-accounts

SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO

Registered Charity No. 1178389

ANNUAL REPORT AND ACCOUNTS

For the year ended 30 April 2025

TRUSTEES’ REPORT

The Council present their annual report together with the financial accounts of the Society for the year ended 30 April 2025

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 J McQuaid J Brown J McNeil DG Cantrell S Myers JA Cooper RM Tiddy AW Dunlop MA Tylee CM Jones J Wright

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. We have successfully tried afternoon meetings and a second regular venue at Portland Works. The Society has also kept in touch with the membership and made sales of publications through the website and at

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SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO

TRUSTEES’ REPORT continued

events such as the Sheffield Heritage Fair. There were no new publications in the last year.

The number of members of the Society stands at 160 (2024; 159), the majority of whom have given an email to enable them to receive regular updates on the Society’s activities. The number of followers on Facebook has increased to over 800. Most new members join through the website.

As reported last year, Wortley Top Forge Cottage has been fully integrated into the Top Forge site and fully functioning 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 members of the Sheffield Historic Buildings Taskforce at the Bower Spring site. Historic England has provided funding for most of the costs and main contractors, Pinnacle Conservation Limited, have been retained. At the year end, scaffolding had been erected and the site was being prepared for work in May and June, A review of the scheduled area is also under way as part of the archaeology associated with the monument is currently not properly protected. An effort is also being made to obtain the small area of land within the curtilage of the site which still belongs to Sheffield City Council.

The Society was pleased to continue for a third 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.

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

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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 has been stable and it is hoped that the increase from 1[st] May 2025 will generate more funds. Charges for the hire of rooms for lectures and committee meetings are now a major drain on resources although we have not needed to pay any fees to speakers.

Overall there has been a substantial surplus, but this is largely attributable to restricted grant income for the Bower Spring project from the Sheffield Town Trust and Historic England. There was also an unrestricted legacy from the Estate of Ken Hawley, a long-standing member.

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 updated. The Bower Spring restoration project is a major commitment which is expected to be completed during the summer of 2025 and will be reported on at the AGM.

The Society will also continue to collaborate with other heritage organisations and work on publications.

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SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO

TRUSTEES’ REPORT continued

Archaeological investigations in the area which used to be the cottage garden of Wortley Top Forge Cottage remain a medium term objective, particularly to locate the foundations of the Andrews test rig. The Society is mindful that this is a Scheduled Ancient Monument and a proper plan must be agreed with Historic England before anything can proceed and funds sought.

On behalf of the Trustees,

A M J Ball President 9 June 2025

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Independent examiners report to the trustees of SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY for the year ended 30[th] April 2025

I report on the accounts and accompanying notes of the charity for the year ended 30 April 2025 which follow this report.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

Mr Heera Singh FMAAT Date: 10[th] June 2025 HSL Accountancy Solutions Ltd Enterprise House 61a Carr House Doncaster DN1 2BY

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SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO

STATEMENT OF FINANCIAL ACTIVITIES

for the Year ended 30 April 2025

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
£
18,576
-
-
18,576
-
1,000
1,000
17,576
3,620
21,196		 Unrestricted
£
2,933
217
284
3,434
6
1,223
1,229
2,205
198,260
200,465		 2025
2024
Total Funds
Total Funds
£
£
21,509
1,891
217
189
284
364
22,010
2,444
6
975
2,223
3,804
2,229
4,779
19,781
(2,335)
201,880
204,215
221,661
201,880

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SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO

BALANCE SHEET

At 30 April 2025
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
Creditors: amounts falling due after more than one year
Capital Loan
11
Total Net Assets
Accumulated Funds
Restricted
12
Unrestricted
general		 2025
£
259,331
500
18,377
23,877
7
301
43,062
-
(732)
(732)
(80,000)
221,661
21,196
200,465
221,661		 2024
£
259,331
500
18,093
6,741
-
311
25,645
-
(3,096)
(3,096)
(80,000)
201,880
3,620
198,260
201,880

The financial statements were approved by the Trustees on 9 June 2025 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 2025

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) Restricted funds

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

e) 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 2025

ACCOUNTING POLICIES (cont)

f) 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.

g) 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.

h) 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.

i) 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.

j) 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 2025

3 VOLUNTARY INCOME
Sheffield Town Trust Grant for Bower Spring project
Historic England
Grant for Bower Spring project
Restricted Total
Subscriptions and tax recovered
Legacy - Estate of Ken Hawley
General donations
Total unrestricted
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
Room hire
Insurance
Costs at Bower Spring
Restricted
Legal re property transfers
(note)
Support costs - see note 7
Governance costs
Miscellaneous		 2025
£
3,000
15,576
18,576
1,711
1,068
154
2,933
70
147
-
217
6
6
320
111
1,000
(12)
304
500
-
2,223		 2024
£
-
-
-
1,670
-
221
1,891
50
109
30
189
975
975
340
111
-
2,620
288
350
95
3,804

The property transfers were from the previous unincorporated Society to the CIO to simplify administration and comply with legal requirements.

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SOUTH YORKSHIRE INDUSTRIAL HISTORY SOCIETY CIO

NOTES TO THE FINANCIAL STATEMENTS

For the Year ended 30 April 2025

7. OTHER COSTS

Governance costs consist of room hire for the committee, examination 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

2025
£
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		 2024
£
100
6,500
2,730
250,000
1
259,331

The Society also has beneficial ownership of a number of other 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.

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 2025

For the Year ended 30 April 2025
12 RESTRICTED FUNDS
Bower Spring Furnace restoration:
Balance from previous project
Sheffield Town Trust
Historic England		 Balance at
01/05/2024
£
3,620
-
-		 Incoming
-
3,000
15,776
18,576		 Outgoing
£
(1,000)
-
-		 Balance at
30/04/2025
2,620
3,000
15,576
3,620 (1,000) 21,196

Incoming amounts are from Historic England £15,576 and Sheffield Town Trust £3,000.

13 ANALYSIS BETWEEN FUNDS

Fixed assets
Current assets
Current liabilities
Non current liability		 Unrestricted
259,331
21,866
(732)
(80,000)
200,465		 Restricted
Total
-
259,331
21,196
43,062
-
(732)
-
(80,000)
21,196
221,661

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