**THE BRADFORD TEXTILE SOCIETY TRUST** (Established 14 September 1959)
Registered Charity Number 529101
## **UNAUDITED FINANCIAL STATEMENTS**
For the year ended
30 June 2024
## **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 2024.
## **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 Bradford Textile Society Trust arranges a programme of speakers during the year, either for on line or in person presentation. The Society Dinner was once again held this year, with 80 members and guests attending. The Society's Annual Design Competition continues to attract a high level of interest from students and designers throughout the United Kingdom and we are grateful for the support that we receive 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.
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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 2024 amounted £35,966 (2023: £30,180). 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:
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
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 Accountancy Limited as independent examiner of the Trust will be put to the Annual General Meeting.
Malcolm Campbell President
07 September 2024
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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 2024 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 Accountancy Limited 7 September 2024 1 Edmund Street Bradford West Yorkshire BD5 0BH
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## **THE BRADFORD TEXTILE SOCIETY TRUST**
## **Income and expenditure account for the year ended 30 June 2024**
|**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
Annual Dinner surplus
Design competition - previous year's Travel award
**TOTAL INCOME**
**EXPENDITURE**
**Events**
Design competition
Qctober 2024 Awards presentation
Secretarial fees relating to design competition
**Total event expenses**
**Administrative expenses**
Independent examiner's fees
Filing fee - Annual Confirmation Statement
General secretarial fees
Internet and website
Computer and sundry expenses
New lap top
Information Confirmation subscription
**Total administrative expenses**
**TOTAL EXPENDITURE**
**Excess of income over expenditure**|**2024**
**£**
2,170
831
26,826
-
-
-
-
845
1,000
31,672
16,901
1,202
6,017
24,120
24,120
500
13
-
260
-
953
40
1,766
25,886
5,786|**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|
|---|---|---|
5
## **THE BRADFORD TEXTILE SOCIETY TRUST Statement of Assets and Liabilities as at 30 June 2024**
|**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**|415
28,914
19,435
7,415
56,179
20,213|**2024**
**£**
35,966
35,966
35,966
35,966|2,080
21,958
18,565
7,147
49,750
19,570|**2023**
**£**
30,180
30,180
30,180
30,180|
|---|---|---|---|---|
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.
Malcolm Campbell President
David W Gallimore Chairman
7 September 2024
6
**THE BRADFORD TEXTILE SOCIETY TRUST Notes to the Accounts for the year ended 30 June 2024**
## **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 2023
At 30 June 2024
**Depreciation**
At 1 July 2023
At 30 June 2024
**Net book value**
At 30 June 2024|**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
CIWMT City of Culture
Design competition costs
**5**
**Reserves**
Reserves as at 1 July 2023
Excess of income over expenditure
Reserves as at 30 June 2024
Design competition
Design competition 2025 Travel award|**2024**
**£**
415
**2024**
**£**
500
-
2,500
1,000
16,213
20,213
**2024**
**£**
30,180
5,786
35,966|**2023**
**£**
2,080
**2023**
**£**
-
750
-
-
18,820
19,570
**2023**
**£**
19,065
11,115
30,180|
|---|---|---|
## **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 2024**
The Executive Council consider it unlikely that the debt of £6,407 will be repaid prior to 30-Jun-25
|**The Bradford Textile Society Limited**
**(Limited by Guarantee)**
**Balance sheet as at 30 June 2024**
**Current liabilities**
Amounts due to The Bradford Textile Society Trust
Represented by:
**Income and expenditure account**
Balance|**2024**
**£**
(6,407)
(6,407)|**2023**
**£**
(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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