Trustees’ Annual Report for the period
From 1 February 2023 to 31 January 2024
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 |
Para 1.17 | 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 exhibit referred to in last year’s Report has been installed in the Museum. It is a unique and valuable turret clock with highly significant local significance. It has been restored to full working order and is an attraction which enhances the visitors’ experience of the Museum. Significant repair and renovation work has begun on the Mill chimney, partially funded by a significant grant from a third party. This chimney is a critical part of the museum infrastructure besides being a local landmark of distinction. |
| 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 many hundreds of hours per year on-site. A considerable number of hours are spent on administrative and other tasks off-site. |
|---|---|---|
| Other | The Constitution, which was reviewed and revised in the light of the experience gained since the CIO was formed, has been approved by the Charity commission and is now in place. |
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 | We continue to offer a programme of school visits and public lectures. We have been involved in an Arts and Crafts Festival which is to be organised by the Local Authority and we have raised the profile of the Museum in a number of similar areas. |
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | This was our first year since 2019-20 where we have not received any COVID related grant from central government. It was also the first year when there were no transfers of capital from the former charity BMET which has now been wound up. We held thirteen Steaming Days in the year as planned. Our financial surplus for the year excluding extraordinary expenditure on the chimney, which was budgeted for, was over £12000. |
| 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. We also maintain a reserve intended to fund boiler repairs which cannot easily be quantified in advance as they are dependent upon the results of the formal inspection of the boiler. We are still 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 | There is approximately £71,000 held in reserve, much of which is expected to be spent on essential chimney maintenance. |
| 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:
| 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 risks facing the charity |
Para 1.46 | |
| Other |
Structure, Governance and Management
| 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: |
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: |
|---|---|---|
| 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. The volunteers are encouraged to participate in the day-to-day running of the Museum in line with these policies. There is full and effective communication between the Trustees and the other volunteers. |
| Relationship with any related parties |
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 10 11 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (if any) |
|---|---|---|---|---|
| Timothy Herbert Maudsley |
Chairman | |||
| Anthony Kendrick Nixon |
Treasurer | |||
| Ian Peter McKay | Secretary | Relinquished trusteeship at end of Term of Office on 6 December 2023 |
||
| Andrew Michael Garford |
||||
| Anthony David Pilling |
||||
| Stephen Preston | ||||
| Thomas James InglebyWhipp |
Barnoldswick Town Council |
|||
| Myra Shan McKay | ||||
| Christopher John Church |
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
Funds held as custodian trustees on behalf of others
Description of the assets None held in this capacity Name and objects of the N/a charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/a safe custody and 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 | |
| 05 June 2024 | ||
| 05 June 2024 |
Bancroft Mill Engine Museum CIO
Accounts for the year 1st Feb 2023 - 31st Jan 2024
1st Feb 2022 - 31st Jan 2023 for comparison
| Income Membership Donations Entrance Fees Cafe Shop Grants Disposals Other Total Income Expenditure Roberts Maint Bradley Maint Building Maint Cafe Shop Other Postage Utilities Insurance Publicity Boiler Maintenance Total Expenditure Surplus(Deficit) on year |
£794 £9,224 £4,629 £1,677 £3,370 £559 £1 £2,188 See Note 1 £22,442 £134 £153 £22,314 £676 £1,304 £1,110 £76 £806 £734 £1,602 £1,114 £30,023 (£7,581) |
£1,236 £10,179 £3,276 £1,398 £2,900 £5,213 £321 £24,523 £217 £118 £4,251 £617 £1,076 £748 £70 £1,122 £759 £502 £1,272 £10,752 £13,771 |
|---|---|---|
| Bank & Cash Reconciliation | |||
|---|---|---|---|
| Closing | Balance | Difference | |
| 31-Jan-24 | 01-Feb-23 | ||
| Current Account | £9,706 | £7,653 | £2,053 |
| Savings Account | £70,806 | £80,296 | (£9,490) |
| Petty Cash | £328 | £522 | (£194) |
| Floats | £130 | £80 | £50 |
| Total Funds | £80,970 | £88,551 | (£7,581) |
The Other Income figure include £1261 of Bank Interest and an overpayment of £917 of Gift Aid from HMRC. This was notified to them on 4 Jan 2024 but as yet they have not advised how we should make the repayment.
Note 1: