2025-03-31-accounts

Annual Report for the period from 1st April 2024 to 31[st ] March 2025

Charity Name: Markfield Beam Engine and Museum Charity Registration No: 290486

Charitable Incorporated Organisation address:

Markfield Beam Engine and Museum, Markfield Park, Markfield Road, South Tottenham, London N15 4RB

1. Objectives and Activities

• 1.1. Under its CIO constitution, "The object of the Trust is to advance the education of the public in science, engineering technology and engineering history, by the provision of a museum."

• The main activities in relation to this purpose are to:

• promote and preserve the Victorian Beam Engine & Museum on the site of the former Tottenham & Wood Green Sewage Works.

• acquire exhibits, carry out restoration and research for display and education, and carry out improvement and development of the Museum.

• provide educational and lecturing facilities and museum tours.

• 1.2. The Trust recognises its responsibilities under Charity Commission guidance to carry out its activities solely for public benefit.

• 1.3. Contribution made by volunteers:

The Museum is run primarily by Volunteers. All Trustees also operate as Volunteers (all-together 21). It is estimated that Volunteer time in managing, maintaining and operating the Beam Engine & Museum exceeds 2,000 hours/annum in a 'normal' year.

2. Achievements, Performance and Financial Review

The museum has performed within expectations and visitor numbers and donations remain similar to previous years. This report focuses specifically on the work carried out during this period to merge Markfield Beam Engine and Museum with the Walthamstow Pumphouse Museum. The merger is the most substantial restructure in the organisation’s history. After much discussion and with specialist legal advice, it was agreed that merging with the Walthamstow Pumphouse Museum would be the best way to secure a stronger and more sustainable future.

The two museums share a common outlook, similar aims, and comparable ways of working. They are also geographically close, both located within the Lee Valley area, and have long shared trustees and volunteers. Following extensive consultation between the two Boards, both sides agreed that a formal merger would allow the combined organisation to operate more efficiently and with greater resilience. Once the decision was made, work commenced on the legal and practical steps required to bring the two charities together. Legal advice was also sought to support the process and to ensure thorough due diligence as well as to help establish an effective new structure.

A new CIO constitution was approved by the members and the Walthamstow Pumphouse Museum became the sole member of Markfield Beam Engine and Museum with most trustees moving to the new board and three remaining in post. Following the merger, the Walthamstow Pumphouse Museum became the Heritage and Communities Trust (HCT).

The Museum’s financial position for the year 2024-25 is set out in the accompanying Annual Accounts Statement. The balance loss over the year is primarily attributable to the asset transfer gift to the newly merged organisation.

The Trust continues to operate a Community Current Account with Barclays Bank PLC and a savings account with the Monmouthshire Building Society.

Under Charity Commission Guidance CCI 5c, Charities with a gross income of over £25,000 but not exceeding £250,000 in the relevant financial year are required to have their accounts Independently Examined. This is not the case for the Trust for the 2024 - 25 financial year.

3. Governance

4.1 Having originally being established as a Charity and a Company Limited by Guarantee and not having a share capital in September 1984, the Trust transitioned to become a Charitable Incorporated Organisation (CIO) with the Charity Commission in April 2021. Following the merger, most of the trusts former operations having been taken on by the Heritage and Communities Trust (HCT). HCT is also the sole member with a board of Trustees of three members remaining. The trust follows the procedural stipulations set out in its adopted Charity Commission CIO Foundation Model constitution.

Administrative details

Trustees — names of the Trustees during the period covered by this report.

Trustee name
Mr Ian McLaughlin	Resigned 22 Jan 2025
Mr Abdullah Seba
Mr David Cracknell	Resigned 15 Dec 2024
Mr Alan Elliot	Resigned 25 Jan 2025
Mrs Barbara Blake
Mr Andrew Lewis	Resigned 27 Jan 2025
Ms Emma Stell

Sincere thanks to all Trustees and Volunteers who have given their time and talents so enthusiastically to support the work of the Museum.

The charity does not have any corporate trustees.

The Trustees acknowledge their responsibilities for complying with the requirements of the Charities Act 2011 with respect to accounting records and the preparation of accounts and reports.

Signed on behalf of the Charity's Trustees

Signature(s)

Name: Abdullah Seba Position: Trustee Date: 29/01/2026

Balance Sheet

Current Assets Cash & Bank Balances Current Liabilities Accruals Net Assets Charity's Reserves Unrestricted Funds	2025 £ 20,752 20,104 648 8,528 648	2024 £ 24,830 284
		24,546
		8,528
		24,546

Income & Expenditure

Incoming Resources Visitor Donations Other Donations Sales Location Hire Reset Grants (restricted) Reserve Account interest Total Incoming Resources Outgoing Resources Bank Fees Rates Electricity Fuel Oil Engineering Building Maintenance Cloud & Software Subscriptions General Supplies Insurance IT Supplies: POS and POD Marketing & Community Engagement Membership Subscriptions Card Transaction Fees (Retail) Shop Stock Transaction Fees (on income) Compliance & H&S Legal Expenses Website Telephone & Internet Gift Asset Transfer to Parent Charity Boiler Inspection & Insurance Total Outgoing Resources Net Surplus (Deficit) for the Year	2025 £ 2,036 324 859 200 499 420 4,338 19 75 1,353 1,547 202 0 170 1,226 629 0 0 71 20 0 1 40 720 158 653 20,603 1,033 28,521	2024 £ 2,381 951 696 50 369 414
		4,861 0 77 1,168 1,575 265 339 9 44 606 35 141 68 31 403 5 0 0 198 240 0 1,057
		6,261
	(24,182.23)	(1,400.48)