## **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: