2023-01-31-accounts

Trustees’ Annual Report for the period

From 1 February 2022 To 31 January 2023

Charity name: Bancroft Mill Engine Museum

Charity registration number: 1181038

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document (amended 13 January 2023)	Para 1.17	1. To establish and maintain a museum to promote an interest in Bancroft Mill and its engines. 2) To advance the education of the public in the history of cotton weaving and other related subjects of engineering, industrial or archaeological interest in or around the town of Barnoldswick
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 has appointed a further Trustee who has brought valuable experience and knowledge to the board. Pendle Borough Council nominated a Trustee and the term of office of Trustee nominated by Barnoldswick Town Council was renewed for a further term. The closure of a local engineering firm led to the Museum being offered an important and significant exhibit with valuable local connections and history. With help from various sources we have taken possession of this item and are installing it at the Mill. We hope to be able to allow public access to it during the next year (2023)
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The attention of the Trustees has been drawn to this Guidance and they have had full regard to it.

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38	The Charity does not intend to make grants.
Policy on social investment including program related investment	Para 1.38
Contribution made by volunteers	Para 1.38	The volunteers between them spend at least 6000 hours per year on-site. A similar number of hours are spent on administrative and other tasks off-site.

SORP reference The original constitution was written five years ago. In the light of our experiences since then, we have taken the opportunity to Other review the constitution and to make a number of amendments which clarify the administration processes of the Museum. Achievements and Performance SORP reference Whilst we await the result of relevant grant applications and for more suitable weather conditions, the work intended to take place Summary of the main on the chimney is not yet begun. A unique achievements of the charity, clock of significant local interest has been identifying the difference the donated to the Mill. We have made charity’s work has made to Para 1.20 significant progress towards installation and the circumstances of its putting it into running order beneficiaries and any wider We continue to offer a programme of school benefits to society as a visits and public lectures. Additionally, next whole. year we hope to be heavily involved in an Arts and Crafts Festival which is to be organised by the Local Authority.

Financial Review

Financial Review
	SORP reference
Review of the charity’s financial position at the end of the period	Para 1.21	The period under review is the first when the Museum has been able to return to normal operation for a full twelve months post pandemic. It is pleasing to see that visitor numbers on our Steaming Days have almost returned to the previous level, and the numbers signing up for Associate Membership have not fallen. Donations have increased as have sales in the Gift Shop and Café. During this period the Charity received a final capital Transfer of £1924 on the winding up of Bancroft Mill Engine Trust (517795) and a COVID grant from Central Government of £2667.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	Significant reserves are held in order that essential maintenance of the infrastructure, particularly the chimney, can be carried out. This is a vital part of our estate: without the chimney we cannot run the boiler and without that we cannot run the engines, so preserving the chimney keeps the Museum alive as well as preserving an architecturally significant heritage item which is a local landmark and now one of only a tiny number of chimneys still existing. We are also building up reserves with a view to redeveloping the frontage of the Bradley Engine House. This is a long- term project which will upon completion see a greatly increased amount of space which we can devote to the public, be it for exhibition space or for some other use.
Amount of reserves held	Para 1.22	£80,000
Reasons for holding zero reserves	Para 1.22
Details of fund materially in deficit	Para 1.24
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23

Additional information (optional) You may choose to include further statements where relevant about:	Additional information (optional) You may choose to include further statements where relevant about:	Additional information (optional) You may choose to include further statements where relevant about:
	SORP reference
The charity’s principal sources of funds (including any fundraising)	Para 1.47	The principal sources of funding are grants and public contributions by way of donations, gift shop purchases, admission charges and Associate Membership fees.
Investment policy and objectives including any social investment policy adopted	Para 1.46

A description of the principal Para 1.46 risks facing the charity Other

Structure, Governance and Management

	SORP reference
Description of charity’s trusts:
Type of governing document (trust deed,royal charter)	Para 1.25	CIO Constitution based on Charity Commission Foundation model
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	CIO established on 6 December 2018 and amended on 13 December 2022, with amendments to Objectives receiving formal approval on 12 January 2023 and then adopted.
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	Prospective trustees are selected on the basis of their perceived or known skill set. The existing Trustees are required to vote for the election of a prospective new Trustee. Additionally, one Trustee may be nominated by the local Town Council and another by the local Borough Council.

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
Policies and procedures adopted for the induction and training of trustees	Para 1.51	Those new Trustees who may not be familiar with the site, its personnel or the details of its activities, will be given a comprehensive initial briefing. A new Trustee would not, for example, on safety grounds be allowed to undertake certain activities until the Museum was satisfied as to their competence to do so. A new Trustee selected with a skill set aimed at such areas as promotion and advertising would still receive the basic briefing. We accept people as Trustees who have the required skills or experience, regardless of disability, sexuality or colour and make adjustments as necessary to accommodate their specific needs.
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	We have a simple organisation in which, whilst there is a Chairman of the board of Trustees, all the Trustees share the responsibility for the management of the Museum and determine its policies. An Operating Committee of which approximately half are non-Trustee Volunteers, carries out the day-to-day running of the Museum in line with these policies. There is full and effective communication between the Trustees and this committee.
Relationship with any relatedparties	Para 1.51
Other

Reference and Administrative details

Charity name	Bancroft Mill Engine Museum
Other name the charity uses
Registered charity number	1181038
Charity’s principal address	Bancroft Mill Gillians Lane Barnoldswick Lancashire BB18 5QR

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9	Trustee name	Trustee name	Office (if any)	Office (if any)	Dates acted if not for whole **year **	Dates acted if not for whole **year **	Name of person (or body) entitled to appoint trustee (ifany)
	Timothy Herbert Maudsley		Chairman
	Anthony Kendrick Nixon		Treasurer
	Ian Peter McKay		Secretary
	Andrew Michael Garford
	Anthony David Pilling
	Stephen Preston
	Thomas James InglebyWhipp						Barnoldswick Town Council
	Myra Shan McKay
	Christopher John Church				Appointed 20 June 2022		Pendle Borough Council
		Corporate trustees–names of the directors at the date the report was approved Director name Name of trustees holding title to property belonging to the charity Trustee name Dates acted if not for whole year
		Director name
		Name of trustees holding title
		Trustee name		Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets None held in this capacity Name and objects of the charity on whose behalf the assets are held and how this N/A falls within the custodian charity’s objects Details of arrangements for safe custody and N/A segregation of such assets from the charity’s own assets

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

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) Full name(s) Position (eg Secretary, Chair, etc) Date
	Timothy Herbert Maudsley	Ian Peter McKay
	Chairman	Secretary
	3 October 2023
	3 October 2023

Bancroft Mill Engine Museum CIO Accounts for the year 1st Feb 2022 - 31st Jan 2023

1st Feb 2021 - 31st Jan 2022 for comparison

Income
Membership	£ 1,236	£ 1,075
Donations	£ 10,179	£ 6,259
Entrance Fees	£ 3,276	£ 1,878
Cafe	£ 1,398	£ 334
Shop	£ 2,900	£ 2,104
Private Hire	£ -	£ 120
Grants	£ 5,213.	£ 19,051
Disposals	£ -	£ 80
Other	£ 321.	£ 6
Total Income	£ 24,523	£ 30,907
Expenditure
Roberts Maint	£ 217	£ 35
Bradley Maint	£ 118	£ 9
Building Maint	£ 4,251	£ 9,309
Cafe	£ 617	£ 125
Shop	£ 1,076	£ 145
Other	£ 748	£ 455
Postage	£ 70	£ 53
Utilities	£ 1,122	£ 1,470
Insurance	£ 759	£ 687
Publicity	£ 502	£ 143
Boiler
Maintenance	£1,272	£7,437
Total
Expenditure	£ 10,752	£ 19,868
Surplus onyear	£ 13,771	£ 11,038
Bank & Cash Reconciliation
	Closing Balance	Opening Balance	Difference
	31-Jan-23	01-Feb-22
Current Account	£ 7,653	£ 8,327	£ (674)
Savings Account	£ 80,296	£ 64,127	£ 16,169
Petty Cash	£ 522	£ 347	£ 175
Floats	£ 80	£ 55	£ 25
Total Funds	£ 88,551	.£….72,856	£ 15,695
		Represented by:
		Surplus Generated over year	£ 13,771
		Final Capital Transfer from BMET	£ 1,924
			£ 15,695

F:\all BMEM files\charity commission\annual returns\2022-2023\Fin Summary to go to Trusees for comment.docx Printed: 28-Feb-23