**THE BRADFORD TEXTILE SOCIETY TRUST** (Established 14 September 1959)
Registered Charity Number 529101
## **UNAUDITED FINANCIAL STATEMENTS**
For the year ended
30 June 2021
## **THE BRADFORD TEXTILE SOCIETY TRUST**
## **Financial statements Contents**
||**Page**|
|---|---|
|Council report to members|1-3|
|Independent examiner's report|4|
|Income and expenditure account|5|
|Statement of assets and liabilities|6|
|Notes to the accounts|7-8|
## **THE BRADFORD TEXTILE SOCIETY TRUST**
## **Registered charity number: 529101**
## **EXECUTIVE COUNCIL REPORT TO MEMBERS**
The Executive Council present their report and financial statements for the year ended 30 June 2021.
## **Principal Address**
12 The Drive West Lodge Burley-in-Wharfedale Leeds LS29 7AQ
## **Activities**
The Society is constituted as a Trust, the governing document is a Trust Deed completed on 14 September 1959.
The objects of the Society are the furtherance of the interests of the textile industry by the education of persons engaged or employed therein and the promotion of the discussion and consideration of all questions affecting the industry.
The principal activities of The Bradford Textile Society Trust are the Evening Lecture Meetings, the Annual Design Competition, the Annual Dinner and the publishing of the Society's activities on the internet. Whilst the Evening Lectures and the Design Competition continued in an on-line format, the Annual Dinner was postponed this year due to the Covid-19 restrictions. The Design Competition continues to attract increasing interest from students and designers throughout the United Kingdom and is sponsored by:
John Smedley Limited LAPA Charitable Trust Luxury Fabrics Limited Prestigious Textiles Limited Schofield Sweeney The Association of Fashion and Textiles Courses The British Textile Designers' Guild The Campaign for Wool The Clothworkers Company The Company of Merchants of the Staple of England The Cotton Industry War Memorial Trust The Retail and Textile Company The Textile Institute The Woolmark Company The Worshipful Company of Dyers
The Trustees have had regard to the guidance issued by the Charity Commission on public benefit when planning and undertaking the Society's work for the year.
## **State of Affairs**
The result for the year is considered to be satisfactory in the continuing difficult economic climate and . the restrictions imposed as a result of the Covid-19 pandemic.
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## **THE BRADFORD TEXTILE SOCIETY TRUST**
## **Registered charity number: 529101**
## **COUNCIL REPORT TO MEMBERS (continued)**
## **Reserves Policy**
Net assets at 30 June 2021 amounted £18,441 (2020: £18,115). The Trustees consider the level of reserves to be prudent having regard to the Trust's anticipated future requirements.
## **Trustee**
The Bradford Textile Society Limited.
## **The Executive Council**
General control and management of the Trust is vested in the Executive Council subject to the express provisions of the Trust Deed.
The following were members of the Executive Council during the year:
Vivienne Bradley BA (Hons) Pam Brook Malcolm Campbell Christopher Clapham Gillian Craven David W Gallimore Sir James F Hill Bt OBE DL Caroline Hodgson BSc (Hons), MA, CText ATI Malcolm D Jarvis Haldi Kranich-Wood Billy Temperton Skidmore BA (Hons), PGCE, MCSD, ACFI, FRSA, CText ATI P Barry F Whitaker OBE
Members of the Executive Council are elected by members of the Trust at the Annual General Meeting.
## **Statement of Trustees' responsibilities**
The purpose of this statement is to distinguish the Trustee's responsibilities for the accounts from those of the independent examiners as stated in their report.
The Charities Act 2011 requires the Trustee's to prepare accounts each financial year.
In preparing the accounts the Trustees should follow best practice and:
select suitable accounting policies and apply them consistently;
make judgements and estimates that are reasonable and prudent;
follow the recommendations of the Charity Commission and accounting profession with regard to form and content of the accounts, or to disclose and explain any departures therefrom; and
prepare the accounts on the going concern basis unless it is inappropriate to assume that the Charity will be able to continue to meet its objectives.
2
## **THE BRADFORD TEXTILE SOCIETY TRUST**
**Registered charity number: 529101**
## **COUNCIL REPORT TO MEMBERS (continued)**
## **Statement of Trustees' responsibilities (continued)**
The Trustees are responsible for keeping accounting records which are such as to disclose, with reasonable accuracy, the financial position of the Charity at any time, and to enable the trustees to ensure that the accounts comply with the disclosure regulations. They are also responsible for safeguarding the Charity's assets, and hence for taking reasonable steps for prevention and detection of error, fraud and other irregularities.
## **Independent examiner**
A resolution proposing the re-appointment of Adam & Co Financial Management LLP as independent examiner of the Trust will be put to the Annual General Meeting.
Caroline Hodgson Bsc (Hons), MA, CText ATI President
30 September 2021
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## **THE BRADFORD TEXTILE SOCIETY TRUST**
## **Registered charity number: 529101**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRADFORD TEXTILE SOCIETY TRUST**
We report on the accounts of the Trust for the year ended 30 June 2021 which are set out on pages 5 to 8.
## **Respective responsibilities of trustees and examiner**
The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is required.
It is our responsibility to:
1. examine the accounts under section 145 of the 2011 Act;
2. to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
3. to state whether particular matters have come to our attention.
## **Basis of independent examiner's report**
Our examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In the course of our examination, no matter has come to our attention:
1. which gives us reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 130 of the 2011 Act: and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act, have not been met;
or
2. to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Adam & Co Financial Management LLP First Floor 1 Edmund Street Bradford BD5 0BH
30 September 2021
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## **THE BRADFORD TEXTILE SOCIETY TRUST**
**Income and expenditure account for the year ended 30 June 2021**
|**INCOME**
Subscriptions
Meeting sponsorship
Investment income
Design Competition
Annual dinner
Donation - The Woolmen's Company
Donations - to cover Rates liability
**TOTAL INCOME**
**EXPENDITURE**
**Events**
Design Competition
Secretarial fees relating to Design Competition
Annual dinner costs
Annual dinner - charitable donation
Bradford Club - meeting expenses
Sponsored talk costs
**Total event expenses**
**Administrative expenses**
Independent examiner's fees
Filing Confirmation Statement
General secretarial fees
Secretarial bonus 2018/2019
Rates on unit used for Design Competition
Depreciation of lap top and projector
Internet and website
Trophies and presentation plaque
Computer expenses, postage, stationery and printing
**Total administrative expenses**
**TOTAL EXPENDITURE**
**Excess of income over expenditure**
(2020 - excess of expenditure over income)|**2021**
**£**
2,210
-
55
28,028
-
150
-
30,443
19,121
7,500
26,621
-
-
-
-
213
213
26,834
500
13
2,004
-
-
226
240
-
300
3,283
30,117
326|**2020**
**£**
2,235
500
113
27,420
4,751
100
8,182|
|---|---|---|
|||43,301|
|||19,547
7,082|
|||26,629|
|||3,686
932|
|||4,618|
|||1,362
-|
|||1,362|
||||
|||32,609|
|||500
13
1,044
2,500
8,170
225
200
145
-|
|||12,797|
||||
|||45,406|
|||(2,105)|
||||
5
## **THE BRADFORD TEXTILE SOCIETY TRUST**
**Statement of Assets and Liabilities as at 30 June 2021**
|**Notes**
**Fixed assets**
Tangible assets
2
**Current assets**
Debtors
3
Cash at bank and in hand
Building Society savings account
Building Society bond
**Creditors: amounts falling due**
**within one year**
4
**Net current assets**
**Net assets**
**Reserves**
5
**Total reserves**|3,920
24,817
4,135
7,051|**2021**
**£**
-
18,441
18,441
18,441
18,441|500
10,747
4,135
6,999|**2020**
**£**
226
17,889|
|---|---|---|---|---|
||39,923
21,482||22,381
4,492||
||||||
|||||18,115|
|||||18,115|
|||||18,115|
The Charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 and that an independent examination is needed.
Caroline Hodgson Bsc(Hons) MA, CText ATI - President
Malcolm Jarvis - Chairman
Approved by the Executive Council on 30 September 2021
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**Notes to the Accounts for the year ended 30 June 2021**
## **THE BRADFORD TEXTILE SOCIETY TRUST**
## **1 Accounting policies**
## _**Basis of preparation**_
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
## **2 Tangible fixed assets**
|**Cost**
At 1 July 2020
Additions
At 30 June 2021
**Depreciation**
At 1 July 2020
Charge for the year
At 30 June 2021
**Net book value**
At 30 June 2021
At 30 June 2020|**Office**
**equipment**
**£**
2,443
-|
|---|---|
||2,443|
||2,217
226|
||2,443|
||-|
||226|
Fixed assets are depreciated on a straight line basis at 25% per annum.
|**3**
**Debtors**
**4**
**Creditors: amounts falling due within one year**
Sundry expenses
Secretarial fees - June
Donation to cover future rates liability
Design Competition costs
**5**
**Reserves**
Reserves as at 1 July 2020
Excess of income over expenditure
(2020 - excess of expenditure over income)
Reserves as at 30 June 2021
Design Competition
Rates payable|**2021**
**£**
3,920
3,920
**2021**
**£**
300
792
2,100
-
18,290
21,482
**2021**
**£**
18,115
326
18,441|**2020**
**£**
500|
|---|---|---|
|||500|
|||**2020**
**£**
-
792
-
1,200
2,500|
|||4,492|
|||**2020**
**£**
20,220
(2,105)|
|||18,115|
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**Notes to the Accounts for the year ended 30 June 2021**
## **THE BRADFORD TEXTILE SOCIETY TRUST**
## **6 The Bradford Textile Society Limited**
The Bradford Textile Society Limited, a company limited by guarantee, is the Trustee of the Trust. The Executive Council of the Trust has made a provision for doubtful debts of £6,407 in previous years.
The Executive Council consider it unlikely that the debt of £6,407 will be repaid prior to 30 June 2022.
|**The Bradford Textile Society Limited**
**(Limited by Guarantee)**
**Balance sheet as at 30 June 2021**
**Current liabilities**
Amounts due to The Bradford Textile Society Trust
Represented by:
**Income and expenditure account**
Balance|**2021**
**£**
(6,407)
(6,407)|**2020**
**£**
(6,407)|
|---|---|---|
|||(6,407)|
The guarantee provided by the members of the Trust, in accordance with the Articles of Association, is an amount as may be required not exceeding one year's ordinary membership subscription to the Trust.
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