SIR JOSEPH BANKS SOCIETY CIO
Charity no. 1198498
RECEIPTS & PAYMENTS
ACCOUNTS FOR THE PERIOD
1 APRIL 2025
TO
31 MARCH 2026
1
SIR JOSEPH BANKS SOCIETY CIO
RECEIPTS & PAYMENTS
ACCOUNTS FOR THE PERIOD
1 April 2025 – 31 March 2026
CONTENTS
| Charity Information | 4 |
|---|---|
| Trustees’ Report | 5 |
| Independent Examiner’s Report | 8 |
| Receipts & Payments Account | 9 |
| Statement of Assets & Liabilities | 10 |
| Notes to the Accounts | 11 |
3
SIR JOSEPH BANKS SOCIETY CIO
RECEIPTS & PAYMENTS
ACCOUNTS FOR THE PERIOD
1 April 2025 – 31 March 2026
Charity Number: 1198498 Principal Office: 11 Bridge Street Horncastle Lincolnshire LN9 5HZ Trustees: Paul Anthony Scott (Chairman) John Stuart Earl Crooks (Vice Chairman) Julian Edwin Charles Cousins David Alexander Douglas (Treasurer) George Davison Fussey (appointed 8/9/2025) Jacqueline Rayner Goodall Kenneth John Richard Jacob Andrew Sandbach (appointed 10/5/2025) Heather Slater Robert St Barbe Wayne Bankers: Lloyds Bank Victoria Branch PO Box 1000 BX1 1LT
4
SIR JOSEPH BANKS SOCIETY CIO
RECEIPTS & PAYMENTS
ACCOUNTS FOR THE PERIOD
1 April 2025 – 31 March 2026
Trustees Report:
The Sir Joseph Banks Society CIO (charity registered in England no. 1198498: “the Society”) was registered as a charity on 4 April 2022. These accounts cover the period 1 April 2025 – 31 March 2026.
Objects
The objects of the Society are the advancement of education for the public benefit in the life and works of Sir Joseph Banks of Revesby (1743-1820) in particular but not exclusively by providing a museum and in such other ways as the trustees see fit.
Activities
The principal activities of the Society are:
Provision and management of a museum Maintenance of the Tribute Garden at the Society’s headquarters Management of the collections Digitization of collection data and images Maintenance of a library and archives Lectures, talks and seminars The Love Lincs Plants Project Dissemination of public information Recruitment of non-voting members Publications, including a twice-yearly Magazine Fostering links with the Pacific region, particularly Vanuatu, New Zealand and Australia
The main activities undertaken are to further the Society's purposes for the public benefit, and the trustees have had due regard for the Charities Commission guidance on public benefit.
Achievements and Performance
The outstanding achievement of the reporting year was the acquisition of the building which houses the Society and its museum in Bridge Street, Horncastle. Details of the funding of the purchase are shown in Note 5 to the Accounts.
Collections
With a collection of approximately 50,000 objects, our small natural history museum offers a diverse range of collections, including botany, fossils, invertebrates, vertebrates, shells (molluscs), and a large art collection. The Society holds possibly the largest dedicated natural history collection in Lincolnshire.
5
Our collections and Tribute Garden are based on the work of Sir Joseph Banks, Bt, KB, DCL, PRS, FSA (1743-1820), one of the most famous people in Georgian England.
We continue to benefit from local naturalists donating their collections to us, and have been very fortunate to recently receive the Dr George Peterken Lincolnshire collection.
Our library continues to grow, having received a significant collection of books from a notable Joseph Banks scholar and author. We have also received books as part of bequests and gifts. We have a dedicated librarian, and we offer a book lending system to Society members.
Perhaps the most notable object to have been gifted during this year was a Letter from Joseph Banks describing the 1773 Polar expedition. This letter is of national importance and has been recently conserved by Reading University thanks to a generous grant from the National Manuscript Conservation Trust.
Museum development
For much of this year, we have been focused on purchasing the building within which we have been tenants for 20 years. This has now been successfully achieved with the support of our membership, our local district council, and the United Kingdom Shared Prosperity Fund. This achievement will provide much-needed security of tenure and will now allow us to apply for full museum accreditation from the Arts Council.
One notable highlight has been our success in being recognised as the judges’ choice of best museum in the Midlands Museum Award 2025 by Museum Development Midlands. This was awarded during an event at the Science Museum in Birmingham. The judges praised the museum’s bold approach to innovation and its commitment to engaging with visitors.
Our volunteer team has expanded rapidly during this year, and we now have dedicated teams working in our tribute garden, a new collection care team, and more front-ofhouse volunteers.
Tribute Garden
The living plant collection continues to attract visitors to the centre. The garden contains plants specifically linked to Sir Joseph Banks and is unique to Lincolnshire. Work has begun on creating a display showing the names of all the plants in the garden and sourcing new plant labels.
Communications
The Society operates a website and is active on social media. It publishes two magazines per year, and also a monthly e-newsletter.
Membership
6
Volunteering
The Society and its museum are run entirely by a large contingent of volunteers, managed and supported by hands-on trustees. Our volunteers also work on our collections and receive specialist training as required.
Governance & Structure
The Society was registered as a Charitable Incorporated Organisation (CIO) on the 4[th] April 2022 and is governed by its constitution, which can be viewed on our website. Printed copies can also be supplied on request.
During the year, as a result of identifying skills gaps, we have recruited two new trustees . One has legal experience, which has been immediately put to the test, supporting the Society in purchasing the building. The second has considerable museum experience, having recently retired as a curator of a nationally accredited natural history museum.
We currently have no paid staO; the museum is run and managed entirely by volunteers.
Method to Recruit Trustees
Potential trustees have been approached, where it is believed they have the skills that can support the Society’s charitable objectives. Trustees are sought when it is necessary to fill any skills gaps.
The Trustee’s report was approved by the Trustees on 27 July 2026 and signed on their behalf by:
P A Scott Chairman 27 July 2026
7
SIR JOSEPH BANKS SOCIETY CIO
Charity no. 1198498
INDEPENDENT EXAMINER’S REPORT
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31st March 2026.
Respective responsibilities of trustees and examiner
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Emma Middleton
27[th] July 2026
8
C ¢0 - O fo U) t7J
P A Scott Chairman 27 July 2026
10
NOTES TO THE ACCOUNTS
1. Going Concern
The financial statements have been prepared on a going concern basis, as the trustees believe that the Society has sufficient reserves to continue its activities.
2. Financial Overview
The Society enjoyed an improved financial position in the reporting year, with ordinary (unrestricted) income and expenditure making a surplus of £6750, leaving total free reserves of £9760. Much of the Society’s work relies on restricted income (see below). The purchase of the building which houses the Society and its museum was completed in the year, adding substantially to restricted balances. The policy of the Trustees is to continue to prepare accounts on a receipts and payments basis.
3. Current assets: cash & cash equivalents
The Society has a Lloyds Bank Charity current account for everyday purposes, and a PayPal account which is used chiefly for the receipt of membership subscriptions and minor online expenses. A petty cash account is also operated for sundry expenses, donations and retail sales income.
As at 31 March 2026 the balances were:
| Lloyds Charity Account | £8973 |
|---|---|
| PayPal | £5 |
| Petty Cash | £533 |
4. Investments
The Society opened a Charities Deposit Fund (COIF) account managed by CCLA in August 2025 with an initial deposit of £20,000. In March 2026 £16000 was withdrawn to meet current cash requirements including the purchase of the Sir Joseph Banks Centre. The investment earned £439 interest during the financial year, which was reinvested, leaving a balance of £4439 at the year end. The Trustees intend to continue to use the COIF account to deposit funds not required for immediate use.
In March 2026 the Society purchased the freehold of the Sir Joseph Banks Centre at 11-17 Bridge Street, Horncastle LN9 5HZ. The purchase price and costs were covered by grants and donations which the Trustees gratefully acknowledge. An analysis of the sources of funding for the purchase is set out in the table below.
11
6. Accumulated Fund (unrestricted)
Ordinary (unrestricted) income and expenditure made a surplus of £6750. Together with £3009 brought forward from the 2024/25 accounts, the Society’s free reserves totalled £9759 at 31/3/26.
7. Restricted Funds
In the financial year 2024/25 the Society was awarded a Places of Science 2024 grant by the Royal Society. The subject of the project is the celebration of the life of the Horncastle based naturalist Richard Hill. Part of the grant of £3420 was spent in 2025/26.
The National Manuscript Conservation Trust awarded the Society a grant of £980 towards the cost of conserving an 18[th] C letter signed by Joseph Banks. This was completed in 2025/26 by conservator Yeaseul Jung.
Following the completion of the purchase of the Sir Joseph Banks Centre £210,000 (the purchase price) has been recorded in the accounts as a restricted fund item.
A grant of £3150 was received from East Lindsey District Council (via LCF) in two tranches to commission Irving Fitzpatrick Consulting to write an Audience Development Plan for the Sir Joseph Banks Centre. Museum Development Midlands also contributed £2000 for this purpose. The completed plan was delivered in November 2025.
12