## **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)** You may choose to include further statements where relevant about: 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.** ## **Additional information (optional)** You may choose to include further statements where relevant about: **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**| ## **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|**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.**| ## **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|**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 -----**
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