THE NEW MECHANICS LIMITED
(A COMPANY LIMITED BY GUARANTEE)
(THE NOThINGHAM MECHANICS)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
COMPANY REGISTERED NUMBER
00929885
Registered in England
CHARITY REGISTERED NUMBER
522274

THE NEW MECHANICS LIMITED
(THE NO￿INGHAm MECHANICS- founded 1837)
(Limited by Guarantee - Registsred in England No. 00929885)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
CONTENTS
PAGE
The Council and Administration
Report of the Chairman
213
Directors, Report
418
Independent Examinerfs Report
Statement of Financial Actibllties
10
Balance Sheet
11
Accounting Policies and Notes
12122

THE NEW MECHANICS LIMITED
(THE NorriNGHAM MECHANICS- founded 1837)
{Limited by Guarantee- Registered in England No. 00929885)
THE COUNCIL ADMINISTRATION
STATUS
The New Mechanics Limited is a charitable cornpany limited by guarantee and has no share capital.
It was incorporated on 1 st April 1968 and is a registered charity (No. 522274}.
PRESIDENT
Mrs J Morris
VICE PRESIDENT
Vacant
COUNCIL MEMBERS
(BOARD of DIRECTORS)
Mrs C A Alton
Mrs V Apple
Ms KJ Price
Mr G R Freeman
Mrs J Morris
MrsllHart
Mr R W Smith
Mrs P Tilley
Mrs H Hundley
Mrs J Bird
HONORARY SECRETARY
Mrs V Apple
HONORARY TREASURER
Vacant
MANAGER
Mr A Carlton
REPORTING ACCOUNTANTS
MrA R R Price FCA
Pells
Chartered Accountants
17 Newstead Grove
NOTTINGHAM NG14GZ
BANKERS
Virgin Money
11 Srnithy Row
NOTTINGHAM
NG13EJ
SOLICITORS
Geldards LLP
The Aic
Enterprise Way
NOTTINGHAM NG2 1EN
REGISTERED OFFICE
3 North Sherwood Street
NOTTINGHAM NG14EZ

THE NEW MECHANICS LIMITED
(THE NorriNGHAM MECHANICS- founded 1837)
(Limited by Guarantee - Registered in England No. 00929885)
REPORT OF THE CHAIRMAN
FOR THE YEAR ENDED 31ST DECEMBER 2023
Good morning, if you have any comments regarding my report or other matters, could you
keep them and address them at the "Any Other Business" later on,
Another year gone by from our last Annual General fvleeting. Firstly, I would On￿ again
thank the Council Members for attending our meetings, whereby we discuss in detail the
running of the Institute and ideas in its management. The majority of the time taken up with
the financial aspects of the Instttute. The accounts will show you that we are continuing to be
running at a loss situation and a finite solution to the problem is still to be found.
As I said last year we intended to have another Open Forum, but until we had a concrete
solution to our deficits there would have been little to tell you. Therefore, this didn't take
pla￿.
In round numbers we are currently running at a loss of £7,881 a month or £1,818 per week.
The money we re￿iVed from the sale of Phoenix Park OffI￿S was a life saver in so much
that we could pay off some of our debts. have a small amount left in the bank to help with the
day to day running costs and put money into an investment fund, but we still owe the
Govemment for part of the bridging loan that helped us through Covid. This borrowing had to
be done, otherwise we wouldn't be here now. It was through my predecessor Geoff Green
with Rob Smith and Adam Carlton to try to identify and rectify the daunting task of sorting out
the financial mess previous Councils through possibly "burying their heads int the sand" the
old school thinking we've had money in the past, one day it will come good again. It hasn't.
Sue Brag played her part when the Treasurer left. Tryirjg over a long period, doing a good
job which was not beneficial to her health.
Around this time Geoff Green and Rob Smith were lucky to find our new manager 'Adam'
who is doing a splendid job in running the Institute on a day-to4ay basis. My thanks to Rob,
Adam and his team for all they do. Also not forgetting Geoff Green who was a big part of the
trio. We are still operating withoLrt a Treasurer so Rob, Adam and myself are sharing the
role.
Some of you may think that by paying your membership, paying to come to the Friday talks,
buying food and drinks in the restaurant that these will pay the way. Don't get me wrong,
they do put money into the coffers, but not enough to run the place. Income from letting the
rooms is a must, but the present bookings are not enough
Adam and Wes are spending a considerable time and effort in organising day trips and
setting up the Leisure Learning program which is re￿Iving a good response. Classes which
are prepaid will cornmen￿ in September. followed up hopefully more subjects of interest to
fill yet more teaching space
You probably think as I would 'He's on about money again" but the serious side is that we
need to keep drawing down on what's left of the investment money to survive, and the money
will not last long. We are looking at various options regarding the only asset we have which
is this building. Money has to come from somewhere for the long-tenn survival of our
Institute. We being one of the onty two left in the country. The other one also running at a
loss.

THE NEW MECHANICS LIMITED
(THE NOThINGHAM MECHANICS- founded 1837)
(Limited by Guarantee - Registered in England No. 00929885)
REPORT OF THE CHAIRMAN Continued
FOR THE YEAR ENDED 31ST DECEMBER 2023
There are no doors to knock on, no funding available anywhere that we presently know of.
We have to find money ourselves or our years of existen￿ will be over. I'm sorry my report
is gloomy but this is the reality of our situation
A thank you to all you Members, Council Management and Staff for the past years of
support. Let's hope a financial solution is forthcoming.
Please take on board what has been said today, we don't want to fail the establishment
which has been entrusted to us, as its longevity must continue
MR G R FREEMAN
CHAIRMAN

THE NEW MECHANICS LIMITED
(THE NorriNGHAM MECHANICS- founded 1837)
(Limited by Guarantee - Registered in England No. 00929885)
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2023
Re
ort of the Trustees for the Year Ended 31st December 2023
The Trustees are pleased to present their annual Directors, Report, together with the financial
statements of the Charity for the year ended 31st December 2023, which are also prepared to meet
the requirements for a Directors, Report and accounts for Companies Act purposes.
The financial statements have been prepared in accordan￿ with the accounting policies set out in
note 1 to the financial statements and comply with the charity's governing document, the
Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended
Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the United Kingdom and Republic of I￿land {FRS 102) (effective 1st January
2019)
Trustees of the Chari
The Directors of the charitable company are its Trustees for the purposes of charity law. The
Trustees who have serrfed during the year and since the year end were as follows:_
Mrs H Hundley
MrsllHart
Mrs P Tilley
Mrs J Bird
Mr GR Freeman
Mrs C Alton
Mrs V Apple
Ms KJ Price
Mrs CA Chapman (resigned 22nd June 2023)
Mr R W Smith
anisational Structure and Mana
ement
The New Mechanics Limited is a charitable company limited by guarantee and has no share capital.
It was incorporated on 1st April 1968 and is a registered charity (No. 522274). Its constitution is set
out in the Memorandum and Articles of Association.
The controlling body is the Council of Management (Board of Directors) of up to 20 members who
are the registered Directors. Meetings of the Board of Directors are normally held monthly. Directors
rnust have been rnembers of the Association for at least 12 months and are elected to seNe for
three years. all retiring Directors are eligible for re-election. The procedures for nomination and
election of Directors are set out in the Articles of Association.
The Honorary Secretary and the Honorary Treasurer are appointed by the Board of Directors for a
period of years and are eligible for reappointment, the Honorary Secretary and the Honorary
Treasurer are ex officio Directors. Directors are Trustees of the charity and use "The Good Trustee
Guide" published by NCVO Publications as their training manual.

THE NEW MECHANICS LIMITED
(THE NorriNGHAM MECHANICS- founded 1837)
(Limited by Guarantse - Registered in England No. 00929885)
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2023
Or
anisational Structure and Mana
ement (Continued)
The President and Vice Presidents are honorary positions, nominated by the Board of Directors and
appointed by the mernbership at the AGM for a period of three years, and are eligible for
reappointment.
The Board of Directors have delegated responsibilty for day to day operations to Mr A Carlton, the
Manager, including the provision of catering facilities. Catering is provided as a service to members
ancillary to other activities.
Risk Review
The Manager has carried out risk assessments for fire and health and safety requirements and
brokers a￿ employed to advise on Insuran￿ policies. Maintenance contracts with regular
inspections are used for boilers, plant and equipment including the passenger and goods lifts.
Ob"ectives and Activities
The Memorandurn of Association sets out in paragraph 3(b) the main objective".
"To promote the benefit of the inhabitants of the City of Nottingham and the neighbourhood thereof
by the advancement of education and the provision, in the interests of social welfare and with the
objects of improving the conditions of life, of facilities for recreation and other leisure time
occupations."
In addition paragraph 3{1) states "To.. Support... any charitable associations or institutions... in any
way connected with the purposes of the Association or calculated to further its objectives."
The Nottingham Mechanics owns and occupies premises in the ￿ntre of Nottingham and seeks to
meet these objectives in two ways, firstly to organise its own activities, and secondly to hire rooms at
favourable rates to organisations which have sirnilar aims.
It is a policy to keep the subscription as low as possible to enable those on low incomes to become
members. (Lower rates are maintained for those aged less than 18 years). This is considered an
important policy as most members are elderly and many are on low incomes.
Activities for our rnembers, the￿fOre. con￿ntrate on dancing, aerobics and other similar physical
activities to help members to keep fit, such as table tennis and cultural and mental pursuits such as
bridge, whist and chess wrth regular recorded opera and classical music sessions. Weekly
illustrated lectures throughout rnost of the year prove popular and are well attended, and are open to
non-members at a visitor fee of £2,00. The provision of computers for intemet access has proved
popular. We also arrange day trips and short breaks for our members to places of interest in the
UK.

THE NEW MECHANICS LIMITED
(THE NO￿INGHAm MECHANICS- founded 1837)
(Limited by Guarantee - Registered in England No. 00929885)
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2023
Ob'ectives and Activities
Continued
A very wide range of organisations with sirnilar objectives are encouraged to use our premises at
subsidised rates. Some of which have been associated with The Nottingham Mechanics for many
years, These organisations include, amongst others, The Dickens Fellowship, The National Trust,
The Nottingham Probus Club, The Nottingham Shakespeare Society, The Nottingham Writers, Club,
The Railway Correspondence and Travel Society, and The Thoroton Society. The Workers,
Educational Association use us for a wide range of courses from poetry to music and history. The
classes are advertised on the notice board downstairs.
Rooms are let at higher rates to commercial bodies for training purposes and meeting purposes.
These include Framework. Age UK and the NHS. We still have many activities on going and the
balan￿ between this and room lettings has helped by reducing the library and making the members
area larger. These all combining with our Members Subscriptions and the investment income
represent our major source of income this and the sale of Food and Beverage.
Achievements and Perfonnance
The results for the year (as detailed in the attached financial statements) were as follows:_
Incorning Resources
Outgoing Resources
127,398
243 120
Net Outgoing Resources for the Year
(115,722)
Net gainsl(losses) on investments
(2,489)
Balance brought forward
1,551,308
Total U nrestricted Funds as at 31 st December 2023
1,433,097
The above funds have been allocatsd as follows:_
ReSoUr￿S used for Net Acquisitions of Fixed Assets
Investment portfolio
Working Capital
Liabilities falling due after more than one year
1.224.504
232.278
(5,352)
18.333
Total Funds as at 31st December 2023
1.433,097

THE NEW MECHANICS LIMITED
{THE NorriNGHAM MECHANICS- founded 1837)
(Limlted by Guarantee - Reglstered in England No. 00929885)
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2023
Achievements and Performance
We continue to find ways to bring dO￿ffl our losses although our Gas and Electric has doubled, we
have kept the overheads under control, we have had a 110/0 rise in the Minimum Wage which applies
to most of the staff but even with this we have managed to keep the wage costs the same as last
year
We continue to use the investment money to keep going this will not last forever and we are about to
start our leisure learning programme which we hope will help us bridge the gap be￿een outgoings
and incomings, this has been well re￿iVed and we are hoping the increase in footfall will also
increase the bar takings.
We continue to look forward and we are planning to bring back MOE trips for 24125
Our membership for 2023 was 195 plus six honorary members. we have brought in a pro rata
We have a new project for 2024 we have called Leisure Learning which is a series of courses
ranging from Dickens Christmas Carol to Japanese Culture we are using a model that the Ipswich
Institute have been using for some time, we are initially opening it up to everyone then if this is
suc￿Ssful having two prices one for members and one for non-members the idea is to encourage
the course attendees to become members.
The number of members at 31 st December 2023 was 195 (2022.198)
Reserves Polic
The Board have considered that unrestricted funds not invested in fixed assets should be maintained
at a level of between three and six months of reSoUr￿S expended (currently equating to £68,000 and
£100.000) to enable the current activities of the charity to continue in the event of a significant drop in
funding.
Our unrestricted funds total £1,427.188 of which £1,224.504 is represented by the building £232,278
is set aside for the investment portfolio and designated funds of £5,909 leaving free funds in deficit
by £29.594 at the end of the year as detailed in note 15.
Investment Powers
Under its Memorandum of Association, the charity has the power to make any investment which the
board sees fit and conducive to it objectives. we chose Canaccord after going through a Pro￿S8 to
decide the best route to go down to achieve our charitable aims.
Future Plans
Our plan for the future is to revisit our charitable aim and construct our model moving forward to
facilitste this.
We are looking at different models and using other similar organisations test practices to help us
achieve mission, this will enable the Nottingharn Mechanics Institute to further our charitable aims.

THE NEW MECHANICS LIMITED
(THE NorriNGHAM MECHANICS- ftiunded 1837)
(Limited by Guarantee - Registered in England No. 00929885
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2023
Political Contributions
No donations for political purposes have been made.
ortFn
Accountants
Pells, Chartered Accountants, are reappointed as Reporting Accountants for the ensuing year.
Publlc Benefit Statement
The Board of Directors have cornplied with their duty to have due regard to the guidance on public
benefit, including the 'guidance public benefit: running a Charilty PB2' published by the Charity
Commission in exercising their powers or duties.
This report has been prepared in accordance with the Statement of Recomrnended Practice
Accounting and Reporting by Charities SORP 2019 FRS (102) and in accordance with the special
provisions for Srnall Cornpanies under part 15 of the Companies Act 2006.
BY ORDER OF THE COUNCIL
Mr G R Freeman
20th September 2024

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE NEW MECHANICS LIMITED
I report to the Charity Trustees on my examination of the accounts for the company for the year
ended 31st De￿rnber 2023, which comprise the statement of financial activities, statement of
financial position and the related notes set out on pages 12 to 22
Responsibilitles and Basis of Report
As the Charity's Trustees of the company (and also its Directors for the purpose of wmpany law) you
are responsible for the preparation of the accounts in accordance wtth the requirements of the
Companies Act 2006 ('the 2006 Act,).
Having satisfied myself that the accounts of the company are not required to be audited under Part
16 of the 2006 Act and are eligible for independent examination, I report in respect of my
examination of your Charity's accounts as carried out under Section 145 of the Charities Act 2011
('the 2011 Act,). In carrying out my exarnination I have followed the directions given by the Charity
Commission under Section 145{5) (b) of the 2011 Act.
Independent Examinerfs Statement
I have completed my examination. I confirm that no matters have come to my attention in connection
with the examination giving me cause to believe-
accounting records were not kept in respect of the company as required by Section 386 of the
2006 Act" or
the accounts do not accord with those records" or
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act
other than any requirement that the accounts give a Irue and fair viev/ which it nor a matter
considered as part of an independent examinatson-, or
the accounts have not been prepared in accordance with the methods and princtples of the
Statement of Recommended Practice for accounting and reporting by Charities applicable to
Charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102).
I have no concems and have come across no other matters in connection wth the examination to
which attention should be drawn in this report to enable a proper understarKling of the accounts to be
reached.
A R R PRICE FCA
Member of the Institute of Chartered Accountants in England and Wales
For and on behalf of Pells Chartered Accountants
17 Newstead Grove
NOThINGHAM
NG14GZ
20th September 2024

THE NEW MECHANICS LIMITED
(rHE NorriNGHAM MECHANICS- founded 1837)
(Limited by Guarantee - Reglstered in England No. 00929885)
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31ST DECEMBER 2023
Total
Funds
2023
Totsl
Funds
2022
Notes
UNRESTRICTED FUNDS
INCOME
Income and Endowments from:
Donations and grants
Charitable Activities
Other Trading Activities
Investment income
9,626
83,851
14,611
19,310
30,356
129,900
9,588
7,487
TOTAL INCOME
127,398
177,331
EXPENDITURE ON:
Raising Funds
Charitable Activities
2,882
240,238
31.943
257,502
TOTAL EXPENDITURE
243,120
289.445
Net OLrtgoing Resources for the Year
(115,722)
(112.114)
Net gainsl(losses) on investments
(2,489)
Loss on Revaluation of Investment Propety
NET MOVEMENT IN FUNDS
(118,211)
(112,114)
Total Funds at 1st January 2023
1.551,308
1,663.422
TOTAL FUNDS AT 31ST DECEMBER 2023
1.433,097
1,551,308
All the above results are derived from continuing activities.
10

THE NEW MECHANICS LIMITED
(THE NOThINGHAM MECHANICS - founded 1837)
(Limited by Guarantee - Regtstsred in England No. 00929885)
BALANCE SHEET AS AT 31ST DECEMBER 2023
2023
2022
Notes
FIXED ASSETS
Tangible Assets
Investments
10
11
1.224,504
232,278
1,245.649
1A56.782
1,245,649
CURRENT ASSETS
Stocks
Debtors
Cash funds held at Canaccord
Cash at Bank and in Hand
2,553
5,784
12
5.439
13.610
17,619
364,661
39,236
372,998
CREDITORS: amounts falling
due within one year
13
44,588
39,006
NET CURRENT (LIABILITIESYASSETS
15.352)
1,451,430
333,992
1,579,641
CREDITORS: amounts falling
due after more than one year
14
(18,333)
(28,333)
NET ASSETS
1,433,097
1,551,308
UNRESTRICTED FUNDS
Designated Funds
General Funds
15
15
5,g09
1427,188
5,909
1545 399
TOTAL CHARITY FUNDS
1.433,097
1,551.308
The DirectorE are satisfied that the cc4npany is enlilled to exemption frc4n audil under Section 477 of Ihe Companies Act 2D06 relating to
small companies.
The Directors, Résponsibiliti•s.'
The members have not required the company to obtsin an audit of ib acc>)unts for the yearended in accordan￿ wtth Section 476.
The Directors acknowledge their responsibilitles for complying with the requirement of the Act with res￿Ct lo accounting records and
preparation of accounts.
The financial statements have been prepared in accordance *ryth the provisK)ns apF4i1￿bIe to small companies. subject to the small
Companies wime and in acwrdance ￿th FRS (102) SORP.
Thès8 financial stalÈmènts warè approved by the Board on %Xh S8pbmb8r 2024 and signed on its bèhalf.
BY ORDER OF THE COUNCIL
Mr G R Freeman
Mrs C A Alton
The notes on pages 12-22 form part of these finanoal statements
11

THE NEW MECHANICS LIMITED
(THE NOThINGHAM MECHANICS - founded 1837)
(Limited by Guarantee - Registered in England No. 00929885)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POUCIES
(a) General Infomiation and Basis of Preparation
The New Mechanics Limited is a company limited by guarantee in the United Kingdom. In the
event of the Charity being wound up, the liabilrty in respect of the guarantee is limited to £1 per
member of the Charity. The address of the registered Offi￿ is give in the Chaiity information
on page 3 of these financial statements. The nature of the Charity's operations and principal
activities are:
To promote the benefrt of the inhabitants of City of Nottingham and the neighbourhood,
thereof by the advan￿rnent of education and the provision in the interests of social welfare with
the objects of improving the conditions of lrfe, of facilities for recreation and other leisure time
occupations. In addition to supporting charitable organisations or institution connected with the
purpose of the Association or calculated to further tts obiectives.
The financial statements have been prepared in accordance with the charity's governing
document, the Companies Act 2006 and °Accounting and Reporting by Charities.. Statement of
Recomrnended Practice applicable to Charities preparing their accounts in accordance wtth the
Financial Reporting Standard applicable in the United Kingdom and Republic of I￿land (FRS
102) (effective 1 st January 2019)
The financial statements are prepared on a going con￿rn basis under the historical cost
convention, modified to include ￿rtain items at fair value. The financial statements are
prepared in sterling which is the functional currency of the Charity.
The Charity constitutes a public benefit entity as defined by FRS 102.
The significant accounting policies applied in the preparation of these financial statements are
set out below. These policies have been consistently applied to all years presented unless
otherwise stated.
Funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the
general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for
particular purposes. The aim and use of each designated fund is set out in the Notes to the
Financial Statements.
12

THE NEW MECHANICS LIMITED
{THE NOTTINGHAM MECHANICS- founded 1837)
{Limited by Guarantse - Registered in England No. 00929886)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
ACCOUNTING POLICIES (Continued)
Funds
Continued
Restricted funds are funds which are to be used in accordan￿ Nwth specific restrictions irnposed
by donors or which have been raised by the Charity for particular purposes. The cost of raising
and administering such funds are charged against the specific fund. The aim and use of each
restricted fund is set out in the Notes to the Financial Statements.
Income Reco
nition
All incoming resources are included in the Statement of Financial Activities (SOFA) when the
Charity is legally entitled to the income after any perforniance conditions have been met, the
amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised, the Charity will have been notified of the amounts and the
settlement date in writing. If there are conditions attached to the donation and this requires a
level of perforrnanGe before entitlement can be obtained then the income is deferred until those
conditions are fully met or the fulfilment of those conditions is within the control of the Charity
and it is probable that they will be fulfilled.
For legacies. entitlement is the earlier of the Charity being notified of an impending distribution
Income from trading activities includes income eamed from fundraising events and trading
activities to raise funds for the Charity. Income is received in exchange for supplying goods and
services in order to raise funds and is recognised when entitlement has occurred.
Investment income is eamed through holding assets for investment purposes. It includes
interest and rent. Interest income is recognised using the effective interest method and rent
income is recognised as the Charity's right to receive payment is established.
Revenue grants are recognised when the Charity has entttlement to the funds, any perfonnance
conditions attached have been met, it is probable that the income will be received and the
amount can be measured reliably.
enditure Reco
nition
All expenditure is accounted for on an accruals basis and has been classified under headings
that aggregate all costs related to the category. Expenditure is recognised where there is a
legal or constructive obligation to make payrnents to third parties, it is probable that the
settlement viill be required and the amount of the obligation can be measured reliably. It is
categorised under the following headings:
Costs of raising funds includes costs of managing the investment property and room hire.,
13

THE NEW MECHANICS LIMITED
(THE NOThINGHAM MECHANICS- founded 1837)
(Limited by Guarantee - Registsred in England No. 00929885)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
ACCOUNTING POLICIES (Continued)
enditure ReGo
nition
Continued
Members, subsGrtptions, cultural excursions, the restaurant and bar, and supporting
Charities and other Institutions connected with the purpose of the Charity through Setting of
rooms at a reduced rate;
Other expenditure represents those items not falling into the categories above.
ort Costs Allocation
Support costs are those that assist the work on the Charity but do not directly represent
charitable activities and include office costs. govemance costs, administralive payroll costs.
The are incurred directly in support of expenditure on the objects of the Charity. Where
support costs cannot be directly attributed to particular headings they have been allocated to
cost of raising funds and expenditure on charitable activities on a basis consistent with use of
resources.
Tan
ible Fixed Assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated
impaimient losses. Cost includes costs directly attributable to making the asset capable of
operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost,
less estimated residual value, of each asset on a systematic basis over its expected useful life
as follows:_
Freehold Land
Freehold Buildings
Equipment and Fixtures and Fittings
Furnishings
Computer Equipment
Not depreciated
2% straight line basis
6.60h straight line basis
5% straight line basis
200h straight line basis
Investsnents
Investments are stated at market value as advised by the fund rnanagers. Realised and
unrealised gains are recognised in 'net gainsl(losses) on investments, in the SOFA.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and
sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in
bringing stock to its present location and condition. Cost is calculated using the first-in, first-
out fomiula. Provision is made for damaged, obsolete and slow-moving stock where
appropriate.
14

THE NEW MECHANICS LIMITED
(THE NOTTINGHAM MECHANICS - founded 1837)
(Limited by Guarantee - Reglstered in England No. 00929885)
NOTES TO THE FINANCIAL sTATEME￿rs
FOR THE YEAR ENDED 31ST DECEMBER 2023
ACCOUNTING POLICIES (Continued)
Debtors and Credltors ReceAvablelPa
able Wlthln One Year
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impaimient are recognised in expenditure.
Im
airnient
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at
each Balance Sheet date. If such indication exists, the recoverable amount of the asset, or the
asset's cash generating unit, is estimated and compared to the carrying amount. When the carrying
amount exceeds its recoverable amount. and impainnent loss is recognised in profit or loss unless
the asset is Ca￿led at a revalued amount where the impainnent loss is a revaluation decrease.
Tax
The Charity is an exernpt Charity within the tneaning of Schedule 3 of the Charities Act 2011 and is
conSide￿d to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it
meets with the definition of a charitable company for UK corporation tax purposes.
Goin
Concern
The financial statements have b￿n prepared on a going con￿rn basis as the Trustees believe that
no material uncertainties exist. The Trustees have considered the level of funds held and the
expected level of income and expenditure for 12 months from authorising these financial
statements. The budgeted income and expenditure arKI the future sale of the investment property
will enable the Charity to continue as a going concem.
VOLUNTARY INCOME
2023
2022
Donations
Legacies
Govemment Grant Income
Nottingham City Council Covid 19 Support Grants
9,626
6,692
19.664
4,000
9,626
30,356
15

THE NEW MECHANICS LIMITED
(THE NOThINGHAM MECHANICS- founded 1837)
(Limited by Guarantee - registered in England No. 00929885)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
INCOME FROM CHARITABLE ACTIVITIES
2023
2022
Members, Subscriptions
Members, Cultural Excursions
Restaurant and Bar
Lettings of Rooms
Visitor Tickets
Library and Sundry
8.727
2,733
49,442
22,497
98
354
10,254
42,037
46,106
30,928
401
174
83,851
129,900
OTHER TRADING ACTIVITIES
Room Hire
14,611
9,588
INVESTMENT INCOME
Investment Interest
Car Parking Charges
7,652
11,658
7,487
19,310
7,487
RAISING FUNDS
Investment Management Costs:
Indemnity fee
Legal Fees on sale
Agents commission on sale
Landlords Costs
Investment management fees
705
4,068
6.670
10,167
3,215
3,215
(333)
21.610
333
10,000
Provision for Doubtful Debts
Management of Lettings of Rooms
2.882
31,943
Investment Management Costs:
The above costs for 2022 of £31,943 are in respect of the Investment Property at Phoenix
Business Park, Cinderhill, Nottingham sold during 2022.
16

THE NEW MECHANICS LIMITED
(THE NOThINGHAM MECHANICS- founded 1837)
{Limited by Guarantee - Registered in England No. 00929885)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
2023
2022
Restaurant and Bar:
Purchases
Wages
Repairs
Equipment Hire
Rates & Water
Electricity and Gas
Cleaning( Incl wages) and Sundries
Depreciation
18,504
24,863
944
724
639
5,892
6,318
1,102
16,775
19,716
2,781
493
1,552
1,938
3,352
1,175
58,986
47.782
Members. Cultural Excursions
2.992
40,533
General:
Management and Office Salaries and Wages
Rates, Water, Electricity, Gas. Insurance and Telephone
Printing, Stationery and Postage
Sundry
Depreciation
Repairs and Maintenance
Bank Interest
Credit Card Charges
58,394
31,929
689
4,410
1.753
3,405
862
1,542
50,492
15,594
753
4,132
2,773
2,485
1,274
1,355
102,984
78.858
Buildings:
Wages Facilities
Repairs and Maintenance
Cleaning Wages
Cleaning and Sundries
Depreciation
33,712
4,214
10,490
3,090
18,290
46,352
7,030
10,795
2,541
18,290
69,796
85,008
Library and Sundry:
Books and Periodicals
Depreciation
102
102
17

THE NEW MECHANICS LIMITED
(THE NO￿INGHAm MECHANICS- founded 1837)
(Limltsd by Guarantee - registered in England No. 00929885)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
ANALYSIS OF EXPENDITURE ON CHARITABLE EVENTS (Continued)
2023
2022
Governance Costs:
Independent Examiners Fees
Other Accounting servI￿s
Bank Charges
Filing Fees
1.675
3,755
50
1,595
3,445
166
13
5,480
5,219
TOTAL FOR CHARITABLE ACTIVITIES
240.238
257,502
STAFF COSTS AND NUMBERS
staff Costs were as follows:
Salaries and Wages
Social Security Costs
Pension Costs - Deferred Contribution
124,699
3,265
1.385
134,751
3,796
1.508
129,349
140,055
No employee re￿1Ve￿ emoluments of more than £60,000.
The average numbers of and employees
during the year were..
No.
Employees:
Directors
Office and Administration
Facilty Staff
The President, Vice Presidents and Honorary Officers are appointed by the Council.
The TrUSt￿S neither received nor waived any remuneration during the year (2022: £Nil).
The Trustees did not have any expenses reimbursed during the year (2022 £Nil).
Total key management remuneration amounted to £ 31,721 (2022: £26.501).
18

THE NEW MECHANICS LIMITED
(THE NorriNGHAM MECHANICS- founded 1837)
(Llmited by Guarantee - registered in England No. 00929885)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
NET EXPENDITURE FOR THE YEAR
2023
2022
This is stated after charying.
Depreciation
Independent Examinerfs Fee
Other Accounting servI￿s
21.145
1,595
3,835
22,340
1,595
3,445
10
TANGIBLE FIXED ASSETS
EquipmenL
Fixtures
and
Frttin
Freehold
Land and
Buildin
Total
Tangible
Assets
Computer
ui
ment
Fumishin
COST
At 1.1.23
Additions
Disposals
1,567,336
281,421
70.366
26,074
1.945,197
At 31.12.23
1,567,336
281,421
70,366
26,074
1,945,197
DEPRECIATION
At1.1.23
Charge for the Year
On Disposals
338,344
17,576
273.281
904
62.485
2,390
25,438
275
699,548
21,145
At 31.12.23
355.920
274,185
64,875
25,713
720,693
NET BOOK VALUE
At 31.12.23
1,211,416
7.236
5,491
361
1,224,504
At 31.12.22
1,228,992
8.140
7.881
636
1,245,649
The net book values represent fixed assets used for direct charrtable purposes
19

THE NEW MECHANICS LIMITED
(THE NorriNGHAM MECHANICS- founded 1837)
(Limited by Guarantee - Registered in England No. 00929885)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
2023
2022
11 INVESTMENTS
Acquisitions at cost
Sale proceeds from disposals
Realised Gainl(loss) in the year
Unrealised Gainl(loss} in the year
Market value at 31 st December 2023
289,454
(54,687)
(5,144)
2,655
232,278
Investments at market value comprised:
Debt and fixed interest
Equities
79,894
152,384
232,278
Historical cost as at 31st December 2023
229,622
12 DEBTORS
2023
2022
Trade Debtors
Other Debtors
Prepayments and Accrued Income
2,654
3.361
2,423
5,439
5,784
13 CREDITORS: Amounts Falling Due Within One Year
Bank loan
Trade Creditors
Accruals and Deferred Incorne
Taxation and Social Security
other Creditors
10,000
3,458
18,994
8.572
3,564
10,000
4,295
14,416
6,763
3,532
44,588
39,006
Included in accruals and deferred incorne is deferred incorne relating to members, subscriptions
which are paid in advance. This amounts to £4,497 (2022.. £4,643).
20

THE NEW MECHANICS LIMITED
(THE No￿1NGHAm PIIECHANICS - founded 1837)
(Limited by Guardntee - Registered in England No. 00929885)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
14 CREDITORS.. Amounts Falling Due After More Than One Year
2023
2022
Bank loan
18.333
28,333
The bank loan is repayable by instalments within 5 years
15 MOVEMENT IN FUNDS
At
01.0123
Incoming
Resources
Outgoing
Resources
At
31.12.23
Transfer
Unrestricted Funds:
Designated Funds:
Special Funds Reserve
5,909
5,909
Unrestricted Funds .'
Fixed Assets
Investment Reserve
General Funds
1,245.649
300.000
50
1.545,399
(21,145)
1,224,504
232,278
29,594
1,427,188
(67,722)
67,722
127,398
127,398
224,464
245,609
TOTAL FUNDS
1,551.308
127.398
245,609)
1.433,097
Unrostricted Funds
Fixed Assots:
This represents the nel book value of fixed assets.
Investment Reserve:
This represents the balance of funds from the sale of the investrrte￿ property at Phoenix Pa￿, Nottingham invested
with Cana¢cord Genuty in ltsted UK securities
Special Funds Reserve:
This Fund includes-
Sir Albert Atkey and E A Harvey Bequests
The J N Derbyshire Foundation Fund
£682
£5.227
£5.909
The fvnds previously sho*r¢ under the heading of 'Special Funds, were released to the General Fund in 1966 on the
following conditsons:
that the identity of the funds be preserved and sho4vn in the finan¢ial statements:
that the funds would be reinstated from future income of the general fund after meets.ng running expenses and
allowing for depreciati￿..
that until reinststement Ihe Council will provide out of general funds for the ¢onlinuan¢e of the stated objectives of
the above named Funds.
21

THE NEW MECHANICS LIMITED
(THE NorriNGHAM MECHANICS - ftiunded 1837)
(Limited by Guarantee - Registered in England No. 00929885)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
16 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Funds
Designated
Funds
Total
Fund Balances as at 31st December 2023
are represented by:
Tangible Fixed Assets
Investrnents
Net Current Liabilities
Creditors amount falling due after rnore
than one year
1,224,504
232,278
(11,261)
1,224,504
232,278
(5,352)
5,909
18,333
1,427.188
18,333
1,433,097
5.909
Fund Balances as at 31st December 2022
are represented by:
Tangible Fixed Assets
Net Current Assets
Creditors amount falling due after more
than one year
1 ,245,649
328,083
1,245,649
(333, 992)
5,909
28.333
1,545,399
28,333
1,551,308
5,909
17 RELATED PARTIES
There are no related party transactions that require disclosure.
18 COMMITMENTS
As at 31 st Decernber 2023 the company had commitments under non-cancellable operating
leases"
2023
2022
Plant and machinery
Payable within one year
Payable from one to five years
723
723
22