Colnè Valley Museum Registered Charity Number 1179231 Tru5tees' Annual Report and Unaudlted Accounts for the peyiod ended 310ecember 2024 Colne Valley Museum Trustees, Annual Report and Unaudited Accounts for the perlod ended 31 De¢ember 2024 Contènts Trustees, Annual Report Ito4 Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Account5 8t014 Colne Valley Museum Trustees. Annual Report for the period ended 31 December 2024 Reference and administration details Charity name Colne Valley Museum Registered charity number 1179231 Charity's principal address 22-28 Cliffe Ash Golcar Huddersfield West Yorkshife HD7 4PY Names of the charity trustees who manage the Charity Trustee name MarkAger Janet Jobber Melanie Williams lane Bickerton Raymond Elli5 Jonathan Thornton E Roger Fielding Lee Whitworth steven Whitwam Thomas Johnson Office lif anvl Chair Secretary Deceased 1310312025 Resigned 15105/2025 Resigned 0510312025 Treasurer Appointed 1610412025 Appointed 1610412025 Appolnted 1610412025 strurturej governance and management Description of the charity's trusts= Type of governing document Association Iregistered 17 July 20181 How the charity is constituted Charitable Incorporated Organisaatlon Trustee selection methods Election by members at the Annual General Meetlng. Page I Objectives and artivltles summary of the objects of the charity set out in its governing document To advance education, in particular but not exclusively the education of children, in the history and way of life in the Colne Vallev (between 1800 and 19201,. to promote the arts,. and to conserve and preserve the items of historical mportance by the provision and maintenance of a mijseum for the benefit of the public. Summary of the main activities undertaken for the public benefit in relation to the objects The museum is open to the public on Satvrdav, Sunday and Bank Holiday afternoons throughovt the year and is open to individuals and groups by prior arrangement at other times. In addition to the permanent displays. a programme of temporary exhibitions takes place during the year on topics relevant to the work of the museum. Many of these are arranged by individuals ènd groups from the surrounding area. Demonstration5 of working skills connected with textiles, clog making and domestic tasks also take place. School visits, mainly Key Stèee l and 2 children, form a major part of our core work and continue to thrive with children spending their time with us living as Victorian children. The trustees have had due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties. Contribution made by volunteers The charity is entirely run and managed by unpaid volunteers, from trustees to fire-lighters and maintenance. The education programme with schools is also run by volunteers. Page 2 Achievement and performance Summary of the Main achievements of the charity during the year We are very pleased that 2024 has seen a continued strengthening of the museum's position following the return of norma5 operations in 2023. Our volunteers continued to give over and above in every way and the mvseum continues to be a vibrant space at weekends and Bank Alongside our regular openings and expert demonstrations on saturday and Sunday afternoons. we had a variety of external exhibitions from artists whose work added to our appreciation of the bullding. These exhibitions were alongside those from our own extraordinary collection. We will be having a combination of exhibitions from our own collections a5 well as inviting local artists and exhibitors to Use spaces around the museum in 2025. The tearoom gallery has been opened as an additional exhibition space allowing more artists to exhibit. Trustees continued to support the development of our social media offering, and work continues to toward5 completion of the digitisation of our collection. As an Accredited Museum, this 15 a vit31 resource to ensure we are accessible to anyone interested in researching our collection. Like very many other charities and community organisations, we are vulnerable to a Shortage of willing volunteers and we would be delighted to have new members of some of our key teams. Our demonstrators in the weaving, spinning and clogging rooms possess unique skills and would be delighted to pass their skills on to new volunteers. The Schoo15 Team and Tearoom rota would welcome some additional staff and are always enjoyable ways to get involved. Most of all, the Trustees would like to thank you, our members, for your continuing support as Colne Valley Museum would not be able to exist without you. In 2025, a commitment by each of you to encourage at least one new member to join would be a huge benefit. Page 3 Financial review Charity's policy on reserves It 15 the charity's policy to maintain a balance on Unrestricted Funds of £2D,DOO if possible, to cover the charity's anticipated future reqLJirements. The balance of the Unrestricted Fund at 31 December 2024 was £31,296 15 represented by net current assets of £31,296. The balance of £Nil in the General Restricted fund represents money from Arts & Heritage to be used in the tommissionE of artwork. As at 31 December 2024. the fund was represented by nel current assets of £Nil. The balance of £192,602 in the Building Development restricted fund represents accumulated grants and donations for the acquisition and long-term cyclical repairs and improvements of the charity's land and buildings. At 31 December 2024, the fund was represented by tangible fixed asset5 Wlth a net book value of £192.602 and net current assets of £nil. The balance of £440,996 in the Museum Development restrirted fund represents accurriulated grants and matched funding from the museum for the restoration and reconfiguration of the buildings and the extension of activities undertaken thus safeguarding the future of the museum. At 31 December 2024, the fund was represented by tangible fixed assets with a net book value of £439,433 and net current assets of £1,563. Preparation of the accounts The accounts have been prepared in accordance with the Statement of Recommended Practice-. Accounting and Reporting by Charities preparinÉ their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in IFRS 1021 and the Charities Act 2011 and UK Generally Accepted Practice as it applies from I January 2015. The trustees declare that they have approved the tru5tees' report above. Signed on behalf of the charity'5 trustees-. M Ager Date: Page 4 Colne Valley Museum Independent examiner's report to the trustees of Colne Valley Museum forihe pÈriod ended 31 December 2024 I report to the trusrees on my examination of the èc¢ounts of Colne Valley Mu5eurn for the period ended 310ecember 2024. which are set out on pages 6 to 14. Responslbilitits and basls of report As the charity trusteÈ5 you are respon5ihle for the preparation ol the acccunts in accordance with the requirements of the Charlties Act 1011 I the Att'l. I report in respect of rny examination of the accounts carried out under section 145 of the Art and in cèrrying out mv examination I h8vE followed all the èpplicable Directions g￿en bythe Charity Commission under section 145ISllbl of the Act. Independent examiner's statement I have completed rny ex3rnination. I confirrn that no material Matters have come to my attentlon Sn connection with the examinaiion giving rne cause to believe that in any material respect.. accounting records were not kept 3$ reqvirell by section 130 of the Act,. or the accounts do not accord with those records,. or the accounts do Trot comply with the applicable requirements concerning the form and content of the accounts set out in the Charitie5 (Accounts and Reportsl Re8ulations 2CYJ8 other than any requirement that the accounts give a true and fair view which is not a Matter considered as part of an independent emaminatlon. I hove no concerns ènd have come aeross no other matter5 in connection with the examination to which attention should be drawn In thi5 repDrt in order to 2nabl? a proper undeT5t3nding ol the account5 to be reached. Edward RusgÈ11 ACA CTA Simpson Wood limited Chartered Accountants Bank Chambers Market Street Huddersfield HDI 2EW Date.. Page S Colnevalley Museum ATrrbual Accounts Statement of FinaT￿[al ActI￿tIeS lorthe period ended 31 December Z024 Unrestricted Fun Restricted Fund5 Museum Development Developtnent Fund Fund General Fund General Fund 2024 2023 Note Incomp and endovjments from.. MeTnber5hip subscriptions MusEum Shop and coffee barsale5 Donation5 and le8aties Grants Bank interest Gift ald Total Income of the chailty 4,og6 IB,BB3 12,869 2.568 4.096 18,883 12,869 2,568 1,801 11,861 10,480 2.7 Jro 338 38,754 338 38,754 2(K) 27,092 Expenditure on= ShDp and coffee bar costs 5,610 18,481 5.610 18.481 14,743 4.432 19,078 14.318 Depreclètlon FIDance costs General expenses Totsl expendrture of the tharity 4,069 10,674 10,284 34,375 10.284 49,118 7.896 45,724 4.069 10,674 Net IncomÈllexpendlturel 4.379 14,0691 110,6741 110,3641 118,6321 Trnnslers between funds 14.0801 4,080 Totalfunds brought fDrward 30,997 192,591 451,670 675,258 693,890 Yotsl funds carrled forward 31,296 193.602 440,996 664,894 675.258 Page 6 Colne Valley Museum Annual Accounts Balance Sheet As at 31 December 2024 2024 2023 Note TanElble fixed assets- Her￿age as5et5 632,035 642,698 Cvrrent as$Ets Stotk Debtors Cash at b3nk and in hand Total current a55et5 2,798 200 33,117 36.115 2.742 2,050 34,390 39,182 ilabilities: Credltors.. amounts falling due wthin one year 3,256 6,622 Net current a55et5 32,859 32,560 Total 455et5 less current liabblltie5 664,894 675,258 The funds of the tharlty.. Vnrestrfcled fund5 General Fund Restrirted funds General restri¢tÈd fund uilding Development Fund Museum Deve5opment Fund io 31,296 30,997 io io io 192,602 440,996 192.591 451,670 Total charlty funds 664,894 675.258 Approved by the trustees on ènd slgned on thelr beha￿f by the following.. M Ager (Chairl J H Thornton IT￿aS￿rer) Page 7 tolne Valley Museum Annual Accounts Notes to the Annual Accounts for the year ended 310e¢ember 2024 Note I asi5 of preparation l.J Basis of accountin8 These account5 have been prepared on the ba515 of historical c051 in accordance with.. The Staternent of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland IFRS 1021 issued 16 July 2014 Ithe Charities SORP IFRS 10211,. the Financial Reporting Standard applicable in the United Kingdorn and the Republic of Ireland IFRS 1021.. and the Charities Act 2011. These accounts hav@ been prepared for the p@riod l January 2024 to 31 December 2024. Note 2 Accovntln8 policies Incoming resources Aeco8nStion of incomlnE resources These are Included in the Statement of Financlal AEtivitie5 ISOFAI when,. the charity becomes entitled to the resources.. it is probable that the resources will be recoived-, and - the rnoneiary value can be measured with Incomin6 resources with related expenditure Where incomin8 resources have related expenditure the incoming resources and related expenditure are reported gross in the SOFA. Grants, donations and legacies Grant5 and donations are only included in the SOFA when the charity has unconditional entiilement to the resources. Grants imposing performance-related conditions are recognised as Income only when the performance-related condition5 are Inet. Tax reclaims on donations and 8ift5 Incoming resources from tax reclaims are included in the SOFA at the time that the tax reclaims are received. Volunteer help The value of any voluntary help received is not included in the accounts but is described In the trustees, annua report. Page 8 Colne Valley Museum Annual Accounts Notes to the Annual Attounts for the year ended 31 December 2024 Note 2 Accountlng policies Icontinuedl Expenditure and liabilities Liability recognition and expenditure Li3bilitie5 are retognised as 500n as there is a legal or constructive obligation committing the charity to pay out resources. Expenditure includes VAT which cannot be recovered and is reported as part of the expenditure to which it relates. Financlal instruments Financial instruments are recognised in the balance sheet when the charity become5 party to the contractual provisions of an instrument. Basic financial a55et5 These, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are Subsequently carried at amortised cost using the effective interest method unles5 the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest. Financial asset5 classified as receivable within one year are not amortised. 8asic financial liabilities Financial liabilities are classified according to the Substance of the contractual 3rrangernet)ts entered into. These. including creditors and loans, are initially recogni5ed at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Page 9 Colne Valley Museum Annual Accounts Notes to the Annual Atcount5 for the year ended 31 December 2024 Note 2 AccDuntlng polldes Icontlnuedl Assets Tangible assers fDr use by £haritv Ilncluding Heritaoe Assets) These are capitalisÈd If they have ) useful life of more than one year. Tanglble fixed assets are initially measured at cost and subsequently measured at C05t net of depreciation and any impairment losses. Ta#Eible a55et5 for use by chaTity Ilncluding Heritage Assets) Icontinuedl Depreciation is reco8nised so as ro write off the cost of assÈts less their residual values over their useful lives on the following ba5es'. FrÈohold buildings Fixtures, fittin8s & equipment 2% straight line 25% straight line Freehold land is not depreciated. Stocks These are valued at the lower of cost or market value. Current a55et investments These comprise bank deposit accounts. Fund5 Unrestricted and restricted Unrestricted fund5 consist of the general fund. Restricted funds are funds Subject to specific re5triction5 ImP05ed by donors or by the purpose of an appeal. Tlie purpose and use of resrrltted funds is set out in the note5 to the annual account5. Going concern At the time of approving the financial statements, the trustees have a reasonable Èxp@ct3tion that rhe charity ha5 adequ8te re50urce5 to continue r)pprational existence for the foreseeable future. Thus thè trustees continue to adopt the going concern basis ol accounting in preparing the financial statements. Public benefil entity The charity is a public benefit entity. Page 10 Colne Valley Museum Annual Accounts Notes to the Annual Accounts for the year ended 31 December 2024 Note 3 Atsalysls of Incomlng resources Unrestrlcted Funds 2024 2023 Income General admissions Special event5 School parties & visits 7,834 11,049 4,669 5,291 1,901 18,883 11,861 Donations and le8acies 2,568 2,750 Restricted Funds- General Fund 2024 2023 Grants Museum Development Yorkshire Arts & Heritage Note 4 Analysis of resource5 expended Unrestricted Funds 2024 2023 Building running costs Water Elettricity Gas Coal Insurance Cleaning Repairs and maintenance 327 2.640 3.979 1,039 1,925 4,415 4,156 18,481 351 2,100 7.106 878 2.065 3.909 2,669 19,078 Pagè 11 Colne Valley Museum Annual Account5 Notes to the Annual Accounts fo¥ the year *nded 31 Decernbef 2024 Note 4 Analys15 of re50urce5 expended Icontinuedl Unrestrlcted Funds 2024 2023 General expense5 Administration Telecommunications Marketln8 7,245 1.766 1.273 10.284 6,438 1,458 7.896 ReSt￿rted Funds- General Fund 2024 2023 eneral expenses ArtlSts awards Restrirted Funds- Building Development Fund 2024 2023 Depreciation 4,069 3,644 Restrlcted Fuxds- Museum Development Fund 2024 2023 Depreciation 10.674 10.674 Note 5 Detall of tertaln Items of expendlture 5.1 Ernployee beneflts The trustees and key managernent personnel received no remuneration, benefits or expenses In the year. 5.2 Independent examiner's fees Fees of £90012023.. £9001 were paid to the Independent Examiner for the ex3mln3tion of the accounts. 5.3 Employees There were no employees during the year. Page 12 Colne Valley Museum Annual Accounts Notes to the Annual Accounts for thè year ended 31 Detember 2024 Note 6 Tanglble fl¥ed assets - Herftage Assets Freehold land & buildings Fixtures fittings & equipment Total Cost Balance brought forward Addition5 Balan￿ carried forward 770,870 215,027 4,080 219.107 985,897 4,080 989.977 770,870 Accumulated depreciation 8alance brought forward Charge for the period Balance carried forward Net book value Balance brought forward Carried forward 128,172 14,318 142,490 215,027 425 215,452 343.199 14,743 357,942 642,698 628,380 642,698 632,035 3,655 Contractual commitment5 at 310ecember 2024 for the acquisition of property, plant and equipment amounted to £nil. The rnu5eum's tangible fixed assets comprise Heritage Assets. These assets are open to the public during museum opening times. The musèum is accredited by the Arts Council accreditation scheme and has a collection development policy that meets the standard. There is also a conservation management plan for both the property and the collection. Certain property at Cliffe Ash was gifted to the museum in the 1970s. As a result. this property does not form part of the cost and depreciation summary provided above. It is not thought that the c05t of obtainin8 valuation is justified by the usefulness of the information to the LJSers of the accounts or to the charity for its own stewardship purposes. Note 7 Debtors 2024 2023 Other debtors 2¢]0 200 2,050 2,050 Page 13 Colne Valley Museum Annual Accounts Notes to the Annual Accounts for the year ended 31 Oecember Z024 Note Creditors: amounts falling due withln one year 2024 2023 Accruals 3,256 6,622 Note 9 Flhandal Instruments 2024 2023 Carrying amount of basic financial assets 33.317 36.440 Carrying amount of basic financial liabilities 3,256 6,622 Note 10 Analy$15 Ot assets betweety fvTrds Restricted income funds Building Museum Development Llevelopment FLtnd Fund Unrestricted Fund General Fund Total Fixed asset5 Net current assets Total net asset5 192,602 439,433 1,563 440,996 632,035 32.859 664,894 31,296 31,296 192,602 General Fund The purpose ol the fund depends on the donors restirctions imposed. Building Development Fund The purpose of the fund is the purchase and long-term cyclical repair and improvernent of the museum buildings. Museum Oevelopment Fund I'sustalnlng the Dream'l The ptsrpose of the fund was to enable the restoration and reconfiguration of the buildings, the extension of activities undertaken and thu5 safÈgu3rd the future of thp museum. The museum was awarded a grant of up to£683.100 by the Heritage Lottery Fund which covered 95% of the project cost. Note 11 Transactions wlth related partie5 There were no such transactions. Note 12 Post balance sheet events There were no Such events. Pase 14