2023-04-30-accounts

Trustees’ Annual Report for the period

From 01. 05. 2022 Period start date To 30.04.2023. Period end date

Charity name:Forncett Industrial Steam Museum.

Charity registration number: 1179705

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	To advance the education of the public in all aspects of the development of Great Britain’s industrial heritage through the provision and maintenance and demonstration of its collections of steam powered engines from the beginning of the industrial revolution to the 21st century. The collections to be preserved for long term public benefit.

Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	The museum provides education for the public by providing the opportunity to examine the historical work of craftsmen and women who lived long ago and learn about their practices and skills. The museum is open to the public every Wednesday and Sunday throughout the year. Visitors are offered educational tours and entry is free. The museum takes part in the National Heritage Open Days coordinated by the National Trust and includes a free full Steam Operating day for the general public who may not be able to afford the normal entry charge for a Steam Day. We also offer a free steam day for our local primary school students and their teachers on a normal school week day. The museum is able to provide education, training and research opportunities to local schools, colleges, University of Third Age, clubs and societies and other national and international groups by appointment. We offer hands on training opportunities for apprentices working in the Heritage Engineering sector. The museum has a 20 seat video room used to enhance the visitors experience and tell the story of the creation and development of the museum since 19709 and other documentaries about the development of steam power during the 250 years of the Industrial Revolution and its impact on the climate crisis the world is now experiencing. The museum is able to reach out to a wider national and international audience through its website www.forncettsteammuseum.co.uk and through a dedicated to You Tube channel on the internet. https://www.youtube.com/channel/ UCyjs.Jglm2obMhnZAmQ9JLdw/ featured
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	In the exercise of its powers the trustees of the charity have paid due regards to the guidance issued by the Charity Commission on public benefit.

Additional information (optional)

You may choose to include further statements where relevant about:

SORP reference

N/A Para 1.38 Policy on grant making N/A Para 1.38 Policy on social investment including program related investment N/A Para 1.38 Contribution made by volunteers Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	The charity continued it work to achieve full Arts Council Accreditation with completion of all remaining outstanding policies and other outstanding work.We anticipate achieving Full Accreditation by October 2023. In spite of the delayed reopening after COVID and having to replace and rebuild the entire steam pipe system we were able to start rebuilding our regular educational steam activities for the public. We held a special Donors Steam Day on April 30th 2023, to thank all the people who had supported the trust in this unexpected challenge.

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements against Para 1.41 objectives set

	Performance of fundraising activities against objectives set Para 1.41 Investment performance against objectives Para 1.41 N/A Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	Total funds carried forward.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	To preserve or rehouse the more delicate artefacts should a failure in the sites buildings necessitate it.
Amount of reserves held	Para 1.22	£6000
Reasons for holding zero reserves	Para 1.22	N/A
Details of fund materially in deficit	Para 1.24	N/A
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	N/A

Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	Para 1.47	Admission charges for Steam Operating Days. Donations made by visitors on Free Static opening days. Specific fund raising appeals for special projects. Eg Pipe Line Appeal.
Investment policy and objectives including any social investment policy adopted	Para 1.46	N/A
A description of the principal risks facing the charity	Para 1.46	Recruiting volunteer staff. Ensuring a constant supply of wood fuel to run the steam boiler. Any unexpected regulations regarding burning of fuels to raise steam for educational purposes.
Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Charitable Incorporated Organisation. Foundation model.
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	CIO Foundation model whose only voting members are its Trustees.
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Interview and review of applicants CV. Appointment by existing Trustees.

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees	Para 1.51	New Trustees are briefed on the history of the charity and its objectives. They are made aware of their responsibilities and are provided with the Charity Commissioner’s guidance on the responsibilities of a trustee. They are given a comprehensive health and safety briefing. Trustees meet every three months to manage the charities affairs and minutes of the meetings are kept and signed following each trust board meeting. At present the day to day administration is undertaken by the Chairman of the Trustees until such time the trust can employ a general manager. Trustees continue to assess the major risks to which the charity is exposed and introduce systems and procedures to mitigate the risks identified.
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	N/A

Relationship with any related parties	Para 1.51	N/A
Other

Reference and Administrative details

Charity name	Forncett Industrial Steam Museum CIO.
Other name the charity uses	N/A
Registered charity number	1179705
Charity’s principal address	Low Road, Forncett St Mary, NORWICH. Norfolk. NR16 1JJ.

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (if any)
	Dr Rowan Nigel Francis	Chairman	Whole year
	Daniel Anthony Marshall-Bull	Treasurer	Whole year
	Miranda Ellis	Trustee	Whole year
	Neal Davies	Trustee	Whole year
	Will Herschel- Shorland	Trustee	Whole year
	Tom Forster	Trustee	From 29 11 2022

Corporate trustees – names of the directors at the date the report was approved

Director name N/A

Name of trustees holding title to property belonging to the charity

Dates acted if not for whole year

Trustee name

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity	N/A
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects	N/A
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets	Special written agreements for the few items on loan for exhibition purposes.

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of	Name	Address
adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

N/A

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees Signature(s) Rowan Francis D M-Bull Full name(s) Dr. Rowan Francis Dan Marshall-Bull Position (eg Secretary, Chair, etc) Chairman Treasurer Date22 February 2024	Signed on behalf of the charity’s trustees Signature(s) Rowan Francis D M-Bull Full name(s) Dr. Rowan Francis Dan Marshall-Bull Position (eg Secretary, Chair, etc) Chairman Treasurer Date22 February 2024	Signed on behalf of the charity’s trustees Signature(s) Rowan Francis D M-Bull Full name(s) Dr. Rowan Francis Dan Marshall-Bull Position (eg Secretary, Chair, etc) Chairman Treasurer Date22 February 2024	Signed on behalf of the charity’s trustees Signature(s) Rowan Francis D M-Bull Full name(s) Dr. Rowan Francis Dan Marshall-Bull Position (eg Secretary, Chair, etc) Chairman Treasurer Date22 February 2024	Signed on behalf of the charity’s trustees Signature(s) Rowan Francis D M-Bull Full name(s) Dr. Rowan Francis Dan Marshall-Bull Position (eg Secretary, Chair, etc) Chairman Treasurer Date22 February 2024
		Rowan Francis		D M-Bull
		Dr. Rowan Francis		Dan Marshall-Bull
		Chairman Treasurer 22 February 2024
		Chairman	Treasurer
		22 February 2024

	Forncett Industrial Steam Museum	Forncett Industrial Steam Museum	Forncett Industrial Steam Museum	Forncett Industrial Steam Museum	1179705		CC17a
	Annual accounts for the period
			5/1/2022	To	4/30/2023
Section A	Statement of financial activities
Incoming resources (No Recommended categories by activity	Note te 3) Details of own analysis		£ £ £ £ £ Unrestricted funds Restricted income funds Endowment funds Total this year Total last year F01 F02 F03 F04 F05
Incoming resources from generated funds Incoming resources from charitable activities Other incoming resources Voluntary income Activities for generating funds Investment income		S01 S02 S03 S04 S05	-	-	-	-	-
	Donations		8,497	-	-	8,497	22,236
	Steam Days		5,789	-	-	5,789	-
	None		-	-	-	-	-
	Scrappage		-	-	-	-	1,814
	None		-	-	-	-	-
Resources expended (N Gross transfers between Other recognised gains/ Total funds brought forw Costs of Generating Funds Charitable activities Governance costs Other resources expended Costs of generating voluntary income Fundraising trading costs Investment management costs Total Total r Net Total fu Gains and losses on revalua the charity’s own use Gains and losses on investm Net incoming/(outgo Net incoming/(outgoing) r reco	otes 4-8) funds (losses) ard None S06 S07 S08 S09 S10 S11 S12 S13 S14 S15 S16 S17 S18 S19 S20 S21 None Maint. Etc incoming resources esources expended movement in funds nds carried forward Steam Days + Vehicle tion of fixed assets for ent assets ing) resources before transfers esources before other gnised gains/(losses)		14,286	-	-	14,286	24,050
			-	-	-	-	-
			155		-	155	-
			3,865	-	-	3,865	1,635
			-	-	-	-	-
			10,101		-	10,101	41,323
			-		-	-	-
			-	-	-	-	-
			14,121	-	-	14,121	42,958
			166	-	-	166	- 18,908
			-	-	-	-	-
			166	-	-	166	- 18,908
			-	-	-	-	-
			-	-	-	-	-
			166	-	-	166	- 18,908
			1,666	4,793	-	6,459	25,367
			1,832	4,793	-	6,625	6,459

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Section B Balance sheet

Note Fixed assets	Note Fixed assets	Unrestricted funds £ F01	Restricted income funds Endowment funds £ £ F02 F03	Restricted income funds Endowment funds £ £ F02 F03	Total this year Total last year £ £ F04 F05	Total this year Total last year £ £ F04 F05
Tangible assets (Note 9) Investments (Note 10)	B01 B02 B03	150	512,212	-	512,362	512,362
		-	-	-	-	-
		-	-	-	-	-
Current assets Funds of the Charity Signed by one or two trustees on behalf of all the trustees Stock and work in progress Debtors (Note 11) (Short term) investments Cash at bank and in hand amounts falling due within one year (Note 12) amounts falling due after one year (Note 12) Provisions for liabilities and charges Unrestricted funds Restricted income funds Endowment funds Total fixed assets Total current assets Net current assets/(liabilities) Total assets less current liabilities Net assets Total funds Creditors: Creditors: (Note 13) (Note 13)	B04 B05 B06 B07 B08 B09 B10 B11 B12 B13 B14 B15 B16 B17 B18 B19 B20	150	512,212	-	512,362	512,362
		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
		901	5,868	-	6,769	7,697
		901	5,868	-	6,769	7,697
		-	-	-	-	-
		901	5,868	-	6,769	7,697
		1,051	518,080	-	519,131	520,059
		-	-	-	-	-
		-	-	-	-	-
		1,051	518,080	-	519,131	520,059
		1,051			1,051	1,968
		-			-	-
			518,080		518,080	518,090
				-	-	-
		1,051	518,080	-	519,131	520,058
		Signature		Print	Date of approval Name
	Dr R N Francis			Dr R N Francis		1/31/2024
	Mr D A Marshall-Bull			Mr D A Marshall-Bull		1/31/2024

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Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities

.

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

• Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);

• and with* ü Accounting Standards;

• Financial Reporting Standards for Smaller Enterprises (FRSSE);

• and with the Charities Act.

• [** except for the following].

Give details in this box if a different standard has been followed.

• -Tick as appropriate:

• if all relevant disclosures shown in the pack have been given then please tick “Accounting Standards”;

· if disclosures completed in these accounts have been restricted to those required by the FRSSE, then please tick “Financial Reporting Standards for Smaller Enterprises (FRSSE)”.

** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any changes in the boxes.

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year (§ except for the following).

Give details in this box of any material changes that have been made.

• § if no changes have been made to accounting policies then delete these words.

1.3 Changes to previous accounts

No changes have been made to accounts for previous years (§§ except for the following).

Give details in this box of any material changes that have been made.

• §§ if no changes have been made to accounts for previous periods then delete these words.

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Section C Notes to the accounts (cont)
Note 2 Accounting policies
This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or
additional policy has been adopted then this is detailed in the box below.
INCOMING RESOURCES
Recognition of incoming These are included in the Statement of Financial Activities (SoFA) when:
resources the charity becomes entitled to the resources; ·
the trustees are virtually certain they will receive the resources; and ·
the monetary value can be measured with sufficient reliability. ·
Incoming resources with Where incoming resources have related expenditure (as with fundraising or contract income) the
related expenditure incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations Grants and donations are only included in the SoFA when the charity has unconditional entitlement to
the resources.
Tax reclaims on donations and Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which
gifts they relate.
Contractual income and This is only included in the SoFA once the related goods or services have been delivered.
performance related grants
Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.
Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by
the charity.
Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.
Donated services and facilities These are only included in incoming resources (with an equivalent amount in resources expended)
where the benefit to the charity is reasonably quantifiable, measurable and material The value placed .
on these resources is the estimated value to the charity of the service or facility received.
Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Investment income This is included in the accounts when receivable.
Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing
investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to
pay out resources.
Governance costs Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings
and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance Where the charity gives a grant with conditions for its payment being a specific level of service or
conditions output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has
provided the specified service or output.
Grants payable without These are only recognised in the accounts when a commitment has been made and there are no
performance conditions conditions to be met relating to the grant which remain in the control of the charity.
Support Costs Support costs include central functions and have been allocated to activity cost categories on a basis
consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff
costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for use by These are capitalised if they can be used for more than one year, and cost at least £500. They are
charity valued at cost or a reasonable value on receipt.
Investments Investments quoted on a recognised stock exchange are valued at market value at the year end.
Other investment assets are included at trustees' best estimate of market value.
Stocks and work in progress These are valued at the lower of cost or market value.
POLICIES ADOPTED
ADDITIONAL TO OR
DIFFERENT FROM THOSE
ABOVE

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Section C Notes to the accounts (cont)

Note 3 Analysis of incoming resources

Incoming resources may be further analysed if this would help the reader of the accounts.

Voluntary income	Analysis This year Last year £ £ Misc Donations (Restricted) - 11,745 Misc Donations (Unrestricted) 8,497 10,491 Private Hire - - Council/ Gov Payments (Restricted) - - - -	Analysis This year Last year £ £ Misc Donations (Restricted) - 11,745 Misc Donations (Unrestricted) 8,497 10,491 Private Hire - - Council/ Gov Payments (Restricted) - - - -	Analysis This year Last year £ £ Misc Donations (Restricted) - 11,745 Misc Donations (Unrestricted) 8,497 10,491 Private Hire - - Council/ Gov Payments (Restricted) - - - -	Analysis This year Last year £ £ Misc Donations (Restricted) - 11,745 Misc Donations (Unrestricted) 8,497 10,491 Private Hire - - Council/ Gov Payments (Restricted) - - - -
	Misc Donations (Restricted)	-	11,745
	Misc Donations (Unrestricted)	8,497	10,491
	Private Hire	-	-
	Council/ Gov Payments (Restricted)	-	-
		-	-
Activities for generating funds Investment income Incoming resources from charitable activities	Total	8,497	22,236
	Steam Up Days (Total)	5,789	-
	Steam Up Admissions	-	-
	Steam Up Café	-	-
		-	-
		-	-
	Total	5,789	-
	Bank Interest 0%	-	-
		-	-
		-	-
		-	-
		-	-
	Total	-	-
	Sold Assets (Including Scrap)		1,814
		-	-
		-	-
		-	-
		-	-
	Total	-	1,814

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Section C Notes to the accounts (cont)

Note 4 Analysis of resources expended Resources expended may be further analysed if this would help the reader of the accounts. Analysis This year Last year £ £ Costs of generating voluntary income Donation Credit Card terminals 107 Other 48 - - - - - -	Note 4 Analysis of resources expended Resources expended may be further analysed if this would help the reader of the accounts. Analysis This year Last year £ £ Costs of generating voluntary income Donation Credit Card terminals 107 Other 48 - - - - - -	Note 4 Analysis of resources expended Resources expended may be further analysed if this would help the reader of the accounts. Analysis This year Last year £ £ Costs of generating voluntary income Donation Credit Card terminals 107 Other 48 - - - - - -	Note 4 Analysis of resources expended Resources expended may be further analysed if this would help the reader of the accounts. Analysis This year Last year £ £ Costs of generating voluntary income Donation Credit Card terminals 107 Other 48 - - - - - -
	Donation Credit Card terminals	107
	Other	48
		-	-
		-	-
		-	-
Fundraising trading costs Investment management costs Charitable activities Governance costs	Total	155	-
	Steam Up Days inc Café Stock	1,252	1,635
	Vehicle Costs	2,613	-
		-	-
		-	-
	Other Steam Up Costs	-	-
	Total	3,865	1,635
	None	-	-
		-	-
		-	-
	Total	-	-
	Maint. Buildings & Collection	5,356	36,433
	Website	1,023	280
	Vehicle	-	583
	Utilities	1,277	757
	Other	2,445	3,270
	Total	10,101	41,323
	Setup of Trust, Legal etc
		-	-
		-	-
	Total	-	-

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Section C Notes to the accounts (cont)

Note 5 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

		Fundraising activity	Charitable Activity	Governance Activity	Total Cost
	Support cost type	£	£	£	£
		-	-	-		-
		-	-	-		-
		-	-	-		-
		-	-	-		-
		-	-	-		-
		-	-	-		-
		-	-	-		-
	Total	-	-	-		-

Note 6 Details of certain items of expenditure

6.1 Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).

please enter ‘None’ in the appropriate box(es).
		This year			Last year
Number of trustees who were paid expenses		0			0
Nature of the expenses
Total amount paid	£		-	£		-

6.2 Fees for examination or audit of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).

	This year	Last year
	£	£
Independent examiner’s or auditors' fees for reporting on the
accounts	None	None
Other fees (for example: advice, consultancy, accountancy services)
paid to the independent examiner or auditor	None	None

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Section C Notes to the accounts (cont)

Note 7 Paid employees

Please complete this note if the charity has any employees.

7.1 Staff Costs

Gross wages, salaries and benefits in kind Employer’s National Insurance costs Pension costs		This year £	Last year £
		-	-
		-	-
		-	-
Please complete if a defined contribution p 7.2 Average number of full-time equivalent The parts of the charity in which the employees work 7.3 Defined contribution pension scheme Brief details of the scheme The costs of the scheme to the charity for the y The amount of any contributions outstanding at The amount of any contributions prepaid at the	Total staff costs employees in the year	-	-
		This year Number	Last year Number
	Fundraising	-	-
	Charitable Activities	-	-
	Governance	-	-
	Other	-	-
	ension scheme is operated. Total	-	-
	None
	ear the year end year end
		This year £	Last year £
		0	0
		0	0
		0	0

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Section C Notes to the accounts (cont)

Note 8 Grantmaking

Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.

8.1 Total value of grants

			Grants to		Grants to
			institutions		individuals
	Purpose for which grants made		Total amount	£	Total amount	£
None				-		-
				-		-
				-		-
						-
				-
						-
				-
						-
				-
		Total		-		-

8.1 Grantmaking costs

If the charity’s accounts are prepared on the “activity basis” please give details of any support cost associated with grantmaking. Please enter “Nil” if the charity does not identify and/or allocate support costs.

Support costs of grantmaking

Nil

8.3 Grants made to institutions

If the charity has made grants to particular institutions that are material in the context of its grantmaking please give details of the institution supported, purpose of the grant and total paid to each institution listed. Sufficient information should be given to provide a reasonable understanding of the range of institutions supported.

	Names of institutions	Purpose		Total amount of grants paid £
None				-
				-
				-
				-
				-
				-
				-
				-
				-
				-
		Total	grants to institutions	-

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Section C Notes to the accounts (cont)

Note 9 Tangible fixed assets

Please complete this note if the charity has any tangible fixed assets

9.1 Cost or valuation

9.1 Cost or valuation
	£ Freehold land & buildings	£ Other land & buildings	£ Plant, machinery and motor vehicles	£ Fixtures, fittings and equipment	£ Payments on account and assets under construction	Total £
Balance brought forward Additions Revaluations Disposals Transfers *	476,212	-	150	36,000	-	512,362
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
9.2 Accumulated depreciation and impairment provisions *Basis* Rate 9.3 Net book value Balance carried forward 476,212 - 150 36,000 - 512,362 SL or RB SL or RB SL or RB SL or RB SL or RB Balance brought forward - - - - - - Depreciation charge for year - - - - - - Impairment provisions - - - - - - Revaluations - - - - - - Disposals - - - - - - Transfers* - - - - - - Balance carried forward - - - - - - Brought forward 476,212 - 150 36,000 - 512,362 Carried forward 476,212 - 150 36,000 - 512,362	476,212	-	150	36,000	-	512,362
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	476,212	-	150	36,000	-	512,362
	476,212	-	150	36,000	-	512,362
If any fixed assets have been revalued please give details of the valuer and method of valuation 9.4 Revaluation
Museum Collection valued as scrap (by mass) from www.lkm.org.uk on 18/02/2019. The Trustees have chosen not to revalue the collection this year.

9.4 Revaluation

If any fixed assets have been revalued please give details of the valuer and method of valuation

Museum Collection valued as scrap (by mass) from www.lkm.org.uk on 18/02/2019. The Trustees have chosen not to revalue the collection this year.

* The "transfers" row is for movements between fixed asset categories.

** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction.

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Section C Notes to the accounts		(cont)	(cont)
Note 10 Investment assets
Please complete this note if the charity has any investment assets.
10.1 Fixed assets investments
	£
Carrying (market) value at beginning of year		-
Add: additions to investments at cost		-
Less: disposals at carrying value		-
Add/(deduct): net gain/(loss) on revaluation		-
Carrying (market) value at end of year		-

Please provide below:

10.2 A breakdown of the market values of investments shown above agreeing with the balance sheet row B03.

10.3 A breakdown of the income from investments agreeing with SOFA row S03.

Analysis of investments	10.2	10.3
	Market value at	Income from
	year end	investments for
		the year
	£	£
Investment properties	-	-
Investments listed on a recognised stock exchange or held in common investment	-	-
funds, open ended investment companies, unit trusts or other collective investment
schemes
Investments in subsidiary or connected undertakings and companies	-	-
Securities not listed on a recognised Stock Exchange	-	-
Cash held as part of the investment portfolio	-	-
Other investments	-	-
Total	-	-

10.4 Material investment holdings

If any single investment is material in terms of its value (for example represents more than 5 per cent of the value of the charity’s total investments) please provide details.

None Investment held 0 Market Value

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Section C Notes to the accounts (cont)

Note 11 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

Analysis of debtors		Amounts falling due within one year	Amounts falling due within one year	Amounts falling due after more than one year	Amounts falling due after more than one year
		This year	Last year	This year	Last year
		£	£	£	£
Trade debtors		-	-	-	-
Amounts due from subsidiary and associated
undertakings		-	-	-	-
Other debtors		-		-	-
Prepayments and accrued income		-	-	-	-
	Total	-	-	-	-

Note 12 Creditors and accruals

Please complete this note if the charity has any creditors or accruals. 12.1 Analysis of creditors

12.1 Analysis of creditors
	Amounts falling due within		Amounts falling due after
	one	year	more than one year
	This year	Last year	This year	Last year
	£	£	£	£
Loans and overdrafts	-	-	-	-
Trade creditors	-	-	-	-
Amounts due to subsidiary and associated undertakings	-	-	-	-
Other creditors	-	-	-	-
Accruals and deferred income	-	-	-	-
Total	-	-	-	-

12.2 Security over assets

If any loan, overdraft or other creditor holds a charge or other security over any assets of the charity please provide details.

None

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Section C Notes to the accounts (cont)

Note 13 Endowment and restricted income funds Please complete this section if the charity has any endowment or restricted income funds.

13.1 Funds held

Please give a brief description of any of the following type of funds held by the charity:

• permanent endowment funds (PE);

• expendable endowment funds (EE); and

• restricted income funds, including special trusts, of the charity (R).

	Fund	Name	Type PE, EE or R	Purpose and Restrictions
None

13.2 Movements of major funds

Please give details of the movements of the major funds summarised in the restricted and endowment columns of the Statement of Financial Activities.

		Fund					Fund
		balances					balances
		brought	Incoming	Outgoing		Gains and	carried
		forward	resources	resources	Transfers	losses	forward
Fund names		£	£	£	£	£	£
None		-	-	-	-	-	-
		-	-	-	-	-	-
		-	-	-	-	-	-
		-	-	-	-	-	-
		-	-	-	-	-	-
		-	-	-	-	-	-
	Total Funds	-	-	-	-	-	-

13.3 Transfers between funds

Please give details of any transfers between funds.

	From Fund (Name)	To Fund (Name)	Reason	Amount
None					0

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Section C Notes to the accounts (cont)

Note 14 Transactions with related parties

If the charity has any transactions with related parties (other than the trustee expenses explained in note 6) details of such transactions should be provided in this note. If there are no transactions to report, please enter “None” in the relevant boxes.

14.1 Remuneration and benefits

Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee or other related parties by the charity or any institution or company connected with it.

								Amounts paid or benefit value	Amounts paid or benefit value
	Name	of	trustee	or	connected	party	Legal authority (eg order, governing document)	This year	Last year
								£	£
None								0		0

14.2 Loans

Please give details of and amounts owing to or from the charity’s trustees or other related parties by the charity at the year end.

Name of trustee or connected party	Legal authority	Amount owing	Amount owing
		This year £	Last year £
None		0	0
None		0	0

14.3 Other transaction(s) with trustees or related parties

Please give details of any transaction undertaken by (or on behalf of) the charity in which a trustee or related party has a material interest.

has a material interest.
Name of the trustee or		Description of the	This year		Last year
related party	Relationship to charity	transaction(s)	£		£
None				0		0

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Section C Notes to the accounts (cont)

Note 15 Additional Disclosures

The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts. If there is insufficient room here, please add a separate sheet.

The Forncett Industrial Steam Museum was founded in 1970 by Dr Rowan Francis and this personal collection was opened to the public on a regular basis.

In 2016 he decided the best way to secure the future of this fine collection was to seek charitable status and gift the entire collection with all its buildings and land on which it stood to the new Charitable Incorporated Organisation. He started an appeal fund and raised £35 000 to pay for all the costs of legal work and infrastructure developments that were needed to complete the transfer.

The Museum was granted CIO status on 29th August 2018.

As a result of the unexpected Covid 19 Crisis Lock Down the trust had to close its doors to public visitors on Friday 20th March 2020, only reopening on 30th April 2022

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