WHALEY BRIDGE MECHANICS INSTITUTE Registered Charity No. 520533. Mechanics Institute, Market Street, Whaley Bridge, High Peak, SK23 7AA Secretary to Trustee: Mr A Fox Tel: 01663 733068 WEBSITE: v.Wha1eybridgetownC0UnCIl.gov.uk Annual Report for the year ended 31st March 2024 Whaley Bridge Town Council, as a corporate body, is the Trustee of the Mechanics Institution, which is a Charity registered in England No 520533 providing community facilities. The Secretary to the Trustee is Mr Andrew Fox. The Trustee met on 9th January 2025 to approve the Report and Accounts. The accounts have been audited and approved by Leathley & Co Accountants, independent accountants of Market Street, Whaley Bridge. The signed minutes of the Trustee meetings are kept in a separate file and are available for public inspection when requested, along with the annual report and accounts. The Mechanics Institute was built in 1876 for the benefit of the community and now provides a large hall, a meeting room and reading room which are available for hire at competitive rates. Income and Expenditure The total income for the year was £26,141, an increase of £312 on the previous year. We have managed to produce a very similar year to last with marginal increases in the revenue taken. We see another large increase in the amount of money raised from Coffee mornings with £734 compared to the £394 made last year. The regular bookings have seen a slight increase while the coffee morning bookings are still below where they could be. The rent for the Council's use of the building including the office is still a vital income for the charity. Local organisations use the facilities for Coffee mornings and other fund-raising events. The Darby and Joan Club, Horwich End Wl and Citizens Advice Bureau met throughout this year providing income under concessionary use. Derbyshire County Council pay rent for the basement together with an annual service charge to provide Library Services to the Town. This library charge and use of the building by the Town Council were again a very reliable source of income over the financial year. The total expenditure for the year was £44,841 an increase on the previous year mainly due to the new boiler installed at the Mechanics. This is a significant cost of £8,240 however, it is hoped that it will have a very positive effect on reducing the gas bills which are not helped by our very inefficient old boiler. The repairs and maintenance spend of £3,173 compared to last year's £2,358 is only a comparatively small increase. The spend in this financial year is very high due to the boiler and the increased salaries which is due to one of last year's salary payments being included in this year's receipts and payments account. The price of gas is still putting major financial pressure on the Charity. This year £9,711 was spent on gas and electric compared to £13,334 last year which is a good improvement and will improve again with the new boiler and a new cheaper gas rate. This has led to a deficit for the year of £18,700, which is an exceptional amount however, the investment should produce a profit over the next few financial years as the boiler makes us significant savings. This has been taken from the general reserves of the Charity, which do need replenishing. Secretary to the Trustee The secretary to the Trustee, Andrew Fox, is available on weekday mornings between 10.00am and 12.00pm to take bookings, answer queries and provide information. Chair of the Trustee Secretary to the Trustee
WHALEY BRIDGE MECHANICS INSTITUTION ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Leathley & Co Whaley Bridge Office l Market Street Whaley Bridge High Peak Derbyshire SK23 7AA
Whaley Bridge Mechanics Institution Contents Page Busine55 Details Accountant's Report Profit and Loss Account Balance Sheet
Whaley Bridge Mechanics Institution Business Details For The Year Ended 31 March 2024 Proprietor The Mechanics Institute Accountants Leathley & Co - Whaley Bridge Office AAT Member in Practice l Market Street Whaley Bridge High Peak Derbyshire SK23 7AA Page I
Whaley Bridge Mechanics Institution Accountant's Report For The Year Ended 31 March 2024 INDEPENDEN MINER'S REPO THE TRUSTEES OF WHALEY BR ECHANICS INSTITiITI FOR THE YEAR ENDED RC 2024 RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The charity's trustees are responsible for the preparation of the account5. The charity's trustees consider that an audit Is not required for this year under sectSon 144 of the Charities Act 20 11 (the Charities Act) and that an independent examination is needed. It is my responsibility to. (a}examine the accounts under section 145 of the Charities Act, (b)to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and (c)to state whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINER'S REPORT My examination was carried out in accordance with General Dlrections 9iven by the Charity Commlssion. An examination Sncludes a review of the accounting records kept by the Charlty and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeklng explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no oplnion is given as to whether the accounts present a 'true and fair, vlew and the report Is Ilmited to those matters set out In the statement below. INDEPENDENT EXAMINER'S STATEMENT In connection with my exarninatloTh, no matter has come to my attention: l)which gives me reasonable cause to believe that In, any material respect, the requlrements {a)to keep accounting records in accordance with Sectlon 130 of the Charities Act; {blto prepare accounts which accord with the accountlng records and comply with the accounting requirements of the Act have not been met; or 2)to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Leathley & Co - Whaley Brldge Offlce AAT Member in Practice l Market Street Whaley Bridge High Peak Derbyshire SK23 7AA Page 2
Whaley Bridge Mechanics Institution Profit and Loss Account For The Year Ended 31 March 2024 2024 2023 Turnover Clerks office Coffee mornings Conce55ionary use Councll meetlngs Library rent and service charges Regular bookings 4,333 734 2,076 941 6,072 11,374 5,265 394 1.916 1,074 5.926 10,962 25,530 25,537 Other Income Bank interest receivable 611 292 26,141 25,829 Expendlture General wages Rates Light and heat Water rates Cleaning Boiler replacement Computer software, consumables and malntenance Repalrs and renewals Advertising and marketing costs Professional fees Bank charges Sundry expenses Trade refuse 21,284 105 14,474 195 9,711 673 338 8,240 143 13,334 619 597 119 3,173 94 419 72 2,358 129 72 86 503 488 44,841 32,385 NET LOSS 118,7001 16,5561 Page 3
Whaley Bridge Mechanics Institution Balance Sheet As At 31 March 2024 2024 2023 Notes CURRENT ASSETS Cash at bank and in hand 19,160 37,860 NET CURRENT ASSETS 19,160 37,860 TOTAL ASSETS LESS CURRENT LIABILITIES 19,160 37,860 PROVISIONS FOR LIABILITIES 6,500 6,500 NET ASSETS 12,660 31,360 CAPITAL ACCOUNT Balance at l April 2023 ProfiVILoss) for the periodlyear 31,360 (18,7001 37,916 (6,556) Balance Carrled Fornard 12,660 31,360 Page 4
The above statement represents fairly the financial position of the authority as at 31,, March 2024 and reflects its Income and Expenditure during the year. Signed- Chairman .................................... Date: Signed.. Responsible Financial Officer Date: Is/i/zs