2024-03-31-accounts

Trustees’ Annual Report for the period

From 01/04/2023 To 31/3/2024

Charity name: Cannon Mill Trust CIO

Charity registration number: 1192473

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The objects of the CIO, which are to be carried out in chesterfield and the surrounding area, are: 1) the conservation and protection of the physical and natural environment for the public benefit through the promotion of re-use and recycling and by advancing public education in matters relating to re- use and recycling. 2) to act as a resource for young people up to the age of 30 by providing advice and assistance and organising programmes of physical, educational and other activities as a means of: a. advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals; b. advancing education; c. relieving unemployment; d. providing recreational and leisure time activity in the interests of social welfare with a view to improving their conditions of life.

		3) to advance education for the public benefit by providing support and activities which develop an individual’s capabilities, competences, skills and understanding. In furtherance of these objects but not otherwise, the trustees shall have power: a. to establish or secure the establishment of premises and to maintain or manage or cooperate with any statutory authority in the maintenance and management of such premises. b. to do other such legal activities as the trustees deem fit from time to time and which are in alignment with this constitution.
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	Over the 2023-24 year, the Trustees
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The Trustees confirm that they have had regard to the guidance issued by the Charity Commission on public benefit , where applicable, when carrying out their activities during the reporting period.

Additional information (optional)

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SORP reference Cannon Mill Trust did not make any grants during the reporting period. Policy on grant making Para 1.38 Cannon Mill Trust did not have any social investment programs during the reporting period. Para 1.38 Policy on social investment including program related

investment Cannon Mill Trust had six volunteers during the reporting period. All six of these were members of the trustee Para 1.38 board. More volunteers will be recruited Contribution made by in later years. volunteers N/A 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	Cannon Mill Trust is committed to its mission to improve the lives, education and environment of local young people in North Derbyshire. However, the current year has been a challenging one. Following a serious flooding incident at our intended site in October 2023, we have assessed our options and are still committed to our plans for it (with some adaptations to ensure resilience). We have also collaborated with the freeholder to safeguard the building by adding a temporary roof covering, However, following a strategic review, the corporation who had committed to lease us the site for 30 years would now prefer us to purchase the freehold. They have offered a discounted price of £75,000 to take into account the collaborative work that we have done together to safeguard the site.

We thus prepared a grant funding application for the government's Community Ownership Fund, but sadly (after 9 months of delays), we recently discovered that we will not be able to submit this bid. Many other capital funders do not allow use of their grants for building purchase. We are engaging with the few funders that remain open to us, in order to raise the £75,000 we need to secure the building and thus be able to move our portable units on site to commence delivery of our services.

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N/A Para 1.41 Achievements against objectives set N/A Performance of fundraising activities against objectives set Para 1.41 N/A 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	The Trustees have reviewed the organisation’s financial position at the end of the reporting period.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The charity does not have a policy on holding reserves - this will be developed once the charity has secured a premises.
Amount of reserves held	Para 1.22	N/A
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

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The charity’s principal sources of funds (including any fundraising)	Para 1.47	Grant fundraising for safeguarding the Cannon Mill building - from Chesterfield General Charitable Trust.
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	Principal risk: failure to secure a premises Mitigation: During the reporting period the Trustees continued fundraising and negotiations with a building owner - with the intention of procuring the building previously identified.
Other		N/A

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Charity Commission’s Foundation CIO model constitution
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	Charitable Incorporated Organisation (CIO)
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	The organisation is currently a foundation CIO, with all formal members of the charity also acting as trustees. Hence there are no elections, but anyone can apply to join the board. Trustees may also co-opt people on to the board by asking them to apply. All applications will be assessed by the board & they may be accepted if it is considered conducive to the charitable objects & current strategy.

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Policies and procedures adopted for the induction and training of trustees	Para 1.51	Three new trustees joined during the period. They received a copy of the constitution, various adopted policies and an update on the status of plans. They were also given access to all prior agreements & meeting minutes.
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	During the reporting period the charity comprised a Chair, a Treasurer and four further trustees, three of whom joined during the year.
Relationship with any related parties	Para 1.51	N/A
Other		N/A

Reference and Administrative details

Charity name	CANNON MILL TRUST CIO
Other name the charity uses	BED FACTORY CIO (Previous name)
Registered charity number	1192473
Charity’s principal address	C/O MONKEY PARK WORKS 128A CHESTER STREET CHESTERFIELD S40 1DN

Names of the charity trustees who manage the charity

1 2 3 4 5 6	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (if any)
	Simon Redding	Chairperson	-	-
	Emma Knight- Strong	Treasurer	-	-
	Jonathan Symons	Operations Lead Trustee	-	-
	Lucie Maycock		29/3/2023
	Richard Godley		08/06/2023
	Nathan Hamer		08/06/2023

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

Director name None

Name of trustees holding title to property belonging to the charity

Trustee name	Dates acted if not for whole year
N/A

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity	None
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	N/A

Additional information (optional)

Names and addresses of advisers (Optional information)

	Type of adviser Name Address	Type of adviser Name Address	Type of adviser Name Address
	VCS	Social Enterprise Exchange	The Workstation, Paternoster Row, Sheffield S1 2BX
	Name of chief executive or names of senior staff members (Optional information)
	N/A

Exemptions from disclosure

Reason for non-disclosure of key personnel details

N/A

Other optional information

N/A

Declarations

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

----- Start of picture text -----
Signed on behalf of the charity’s trustees
Signature(s)
Emma Knight-Strong
Full name(s) Simon Redding
Position (eg Chairperson Treasurer
Secretary, Chair, etc)
Date
31/1/2025
----- End of picture text -----

CHARITY COMMISSION FOR ENGLANO AND WALE5 Camon Mni T￿$1 CIO 1192473 Recei ments accounts CC16a For thtr pgriod from Aw-23 Mar-24 Section A Receipts and payments Unrestrlct•d lund8 Rotrlct•d lunds Endowmont furKI to1￿ n•w£ Totsi fund¥ t•th• n••r•st£ t• n•mi£ Al Rece Gibni Incomè zo,1 Sub total( mss Income ARJ 20.100 A2 Ass•t and Irwutm•nt 8al•¥, (Bee tablel. 20.000 20.100 A3PI •nts Cc0￿11 200 IOM57 57 Sub lotal i.sio 21.51 A4 A88•t and Inv••tm•nt purcha•e•. Isoe tsbl•l b lot¥1 TOtal￿y￿ 1.518 20.000 21.518 Ne( of rFGeIpt51(payffle￿tsj A5 Tran$tsrs ￿tW¢¢n fvnds A6 Cash funds last year end C•sh funds thls y••r•nd 1.41 2.158 3,398 1.980 CCXX R1 accoun151SS1 1112r2025

Section B Statement of assets and liabilities at the end of the period Unre$¢ricted funds lo nur•¥t£ Restricted lund6 Endowment lund6 Laiogori•• B1 Cash lunds 740 Tolal cash funds 740 1,240 Unr•strl¢l•d fvnd• to n••r••tt R••trl¢t•d fvnd• lo Tr••r••tt End•wm•nt fund• to n•4r••tt Detail• 82 Olh•r monotsry a•••¢• Fund ttshl¢h CtsrMrtV41u• loptk)n•ll Detai C￿• loptlohdl 83 Inv•stm•nt a•8•ts Fund towhlch Details Co•1 lopi10n￿l C￿rr4Dly41u• optbn•ll B4 A8get• retalned for t charlty's own us6 P¢￿￿ 10 lch M•¥1 ArTrount du• Whw du• Detai NIA BS Llablllths S￿ne4 by cfie ortro InJ8te8B thaifdal Ih8trust888 Dale of 0PPXOV81 &gfia￿ Prinl Nary mon edding ht-stron 12101125 Emma Kni 17101125 CCXX R2 accoun151SS1 1112r2025