2023-06-30-accounts

THE BRADFORD TEXTILE SOCIETY TRUST (Established 14 September 1959)

Registered Charity Number 529101

UNAUDITED FINANCIAL STATEMENTS

For the year ended

30 June 2023

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 2023.

Principal Address

First Floor 1 Edmund Street Bradford West Yorkshire BD5 0BH

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 and the publishing of the Society's activities on the internet. The Design Competition continues to attract increasing interest from students and designers throughout the United Kingdom and this year's competition showed a significant increase in entries.

Sponsorship and support for the Competition and the Society has been received from the following:

British Wool Glencroft Limited J H Clissold & Sons Ltd John Smedley Limited LAPA Charitable Trust Luxury Fabrics Limited Prestigious Textiles Limited The Alternative Flooring Company The Association of Fashion and Textiles Courses The Campaign for Wool The Clothworkers Company The Company of Merchants of the Staple of England The Cotton Industry War Memorial Trust The Draper's Charitable Fund 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 view of the continuing difficult economic climate and the aftermath of 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 2023 amounted £30,180 (2022: £19,065). 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 Ceri Lewis Barry Smith Tamar Stewart Billy Temperton Skidmore BA (Hons), PGCE, MCSD, ACFI, FRSA, CText ATI

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.

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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 Accountancy Limited as independent examiner of the Trust will be put to the Annual General Meeting.

Professor Parikshit Goswami President

11 September 2023

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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 2023 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

1. to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Adam & Co Accountancy Limited 1 Edmund Street Bradford West Yorkshire BD5 0BH

11 September 2023

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THE BRADFORD TEXTILE SOCIETY TRUST

Income and expenditure account for the year ended 30 June 2023

INCOME Subscriptions Investment income Design competition Grant for ongoing development - Drapers Charitable Fund Grant for video equipment and lectures - CIWMT Grant for Society development - The Dyers Company Claim for damaged furniture boards TOTAL INCOME EXPENDITURE Events Design competition Secretarial fees relating to design competition Sponsored talk costs Total event expenses Administrative expenses Independent examiner's fees Filing fee - Annual Confirmation Statement General secretarial fees Internet and website Computer and sundry expenses Floral tribute Total administrative expenses TOTAL EXPENDITURE Excess of income over expenditure	2023 £ 2,210 254 29,285 3,000 3,500 1,500 350 40,099 19,214 7,500 26,714 - - 26,714 500 13 1,293 346 118 - 2,270 28,984 11,115	2022 £ 2,235 39 28,320 - - - - 30,594 18,796 7,500 26,296 64 64 26,360 500 13 1,996 718 350 33 3,610 29,970 624

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THE BRADFORD TEXTILE SOCIETY TRUST Statement of Assets and Liabilities as at 30 June 2023

Notes 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	2,080 21,958 18,565 7,147 49,750 19,570	2023 £ 30,180 30,180 30,180 30,180	6,965 18,258 12,235 7,076 44,534 25,469	2022 £ 19,065 19,065 19,065 19,065

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.

Professor Parikshit Goswami President David W Gallimore Chairman

11 September 2023

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THE BRADFORD TEXTILE SOCIETY TRUST Notes to the Accounts for the year ended 30 June 2023

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 2022 At 30 June 2023 Depreciation At 1 July 2022 At 30 June 2023 Net book value At 30 June 2023	Office equipment £ 2,443 2,443 2,443 2,443 -

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 for Video equipment and lectures - 2022/2023 Design competition costs 5 Reserves Reserves as at 1 July 2022 Excess of income over expenditure Reserves as at 30 June 2023 Design competition sponsorship 2022/2023 Design competition	2023 £ 2,080 2023 £ - 750 - - 18,820 19,570 2023 £ 19,065 11,115 30,180	2022 £ 6,965 2022 £ 365 792 1,500 3,500 19,312 25,469 2022 £ 18,441 624 19,065

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.

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THE BRADFORD TEXTILE SOCIETY TRUST

Notes to the Accounts for the year ended 30 June 2023

The Executive Council consider it unlikely that the debt of £6,407 will be repaid prior to 30 June 2024.

The Bradford Textile Society Limited (Limited by Guarantee) Balance sheet as at 30 June 2023 Current liabilities Amounts due to The Bradford Textile Society Trust Represented by: Income and expenditure account Balance	2023 £ (6,407) (6,407)	2022 £ (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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