Charity Registration No. 532259
Company Registration No. 01119455 (England and Wales)
THE NORTHERN MILL ENGINE SOCIETY LIMITED
TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE NORTHERN MILL ENGINE SOCIETY LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Chairman
Treasurer and Secretary
Membership Secretary
'Flywheel' Editor
Publicity Officer
N Carney
J Phillp
M Bray
Vacant
D Lewis
Elected Members of Council
G Drake, D Raffe, B Patel, A Ratcliffe
S Dimunates, M Bray, J Leifer
Secretary
J Phillp
Charity number
532259
Company number
01119455
Registered office
84 Walkin Road
Clayton-Le-Woods
Chorley
Lancs
PR6 7PX
Independent examiner
Chadwicks
Chartered Accounlants
Capital House
272 Manchester Road
Droylsden
Manchester
M43 6PW
Bankers
The Royal Bank of Scolland pl¢
Customer Setvice Centre
Drummond House
1 Redheughs Avenue
Edinburgh
EH12 9JN
Nalional Savings & Inveslmenls
Glasgow
G58 ISB
Nationwide Building Society
Kings Park Road
Moulton Park
Northampton
NN3 6NW

THE NORTHERN MILL ENGINE SOCIETY LIMITED
CONTENTS
Page
Trustees report
Independent examinels report
Statement of financial activities
Balance sheel
Statement of cash flows
Notes to the financial statements
8-12

THE NORTHERN MILL ENGINE SOCIETY LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DEGEMBER 2024
The trustees, who are also directors of the company present their report together with the unaudiled financial
statements of the charity for the year ended 31 December 2024.
The accounts have been prepared in accordance wilh the accounting policies set out in note 1 to the accounts
and comply with the Charily's Act 2011, the Companies Act 2006 and "Accounting and Reporting by Charities".
Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} {effeclive 1 January 20151"
Objectives and activities
The Qbject of the Charity is lo advance the education of Ihe public in the field of Industrial Archaeology.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
Charity should undertake.
The main activity has been the continued development and operation of the Society's museum - known as the
'Bollon Steam Museum. where work has continued on the restoration and display of the collection of stationary
steam engines that originally provided power to the mills of the North West textile industry. The museum has
received Accredited status with the Arts Council England which recognises that although there are no employees
and it is run entirely by volunteers, it is operated lo professional museum standards as regards collections
managemenl, visitors. services, procedures and ethics.
Public Benefit
The directors and trustees of The Northern Mill Engine Society Limited have considered the implications of the
Charities Act 2011 with regard to public benefit, and have paid due regard to the guidance on public benefit
issued by the Charity Commission when exercising any powers or dulles lo which the guidance would be
relevant.
They are satisfied that Ihe charitable company'5 activilies are in line with its charitable objects (above) and are
being delivered for the benefil of the general public.
Achievements and performance
During 2024 the society held 10 Steam days and a special steaming for private party during the year al the
museum. Approximately 1,400 visitors also attended on other days lo view the engines when some were
operated on electric drive. The society had to pay twice the 2021 rale for the gas supply ID fire the steam boiler
and almost 3 times the rate for electricity. In spite of this, the Truslees do not consider that these additional costs
will significantly affect the operalion of the museum.lt was not necessary to use any external grants or loans.
Interpretation of the collection is provided by photographic displays. museum guides, informalion panels and
verbally by museum volunteers. In addition, a programme of lectures lo external bodies on local industrial
archaeology subjects is undertaken and a website is maintained where pholographs and full technical details of
the entire engine collection are available, together with descriptive malerial lo set the engines in their historic
context.
Membership of the Society is open to anyone on payment of a modest subscriplion. A magazine - 'The Flywheel.
containing articles on sleam engineering and industrial hislory, is issued to members periodically.
Financial review
Reserves policy
The Council regularly reviews the amount of reserves held by the Society. The Society ha5 no secure regular
source of income, apart from membership subscriptions, which are insufficient lo cover operational costs. The
majority of income is from donations. which vary from year to year. In addition, as part of the future mLJseum
development plans, and to provide for one-off maintenance work. the Society will be expected to fund at least
part of the costs frorn ils own resources. The trustees consider it prudenl to hold reseNes lo cover a years
normal running costs of £25,000 together with a reserve to enable future development of its museum and the
Possible purchase of heritage assets as they may arise.
Results
The Society had a surplus of income over expenditure during Ihe year of £11,324 compared with a surplus of
£7,580 for the previous year (unrestricted transactions).

THE NORTHERN MILL ENGINE SOCIETY LIMITED
TRUSTEES REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Risk management
The major risks lo which Ihe Society is exposed. as identified by the Council, have been reviewed and a system
has been established to miligale those risks.
Structure* governance and management
The registered name of the charity is The Northern Mill Engine Society Limited.
The charity is also known as Bolton Steam Museum.
The Northern Mill Engine Society Limited is a company limited by guarantee and does not have any share capital
Iregislered in England, number 01119455). The Northern Mill Engine Society Limiled is also registered as a
charity, number 532259.
The Trustees. who are also the directors for the purpose of company law. and who served during the year and up
to the date of signature of the financial statements were=
J Phillp
N Carney
J Edwards
D Lewis
J Marsh
G Drake
M Pybus
D Raffe
B Shaw
B Patel
A Ralcliffe
S Dimuantes
M Bray
J Leifer
(Resigned 5 May 2024)
(Resigned 5 May 20241
(Resigned 5 May 2024)
(Appointed 5 May 2024)
Management ofThe Northem Mill Engine Society Limited is vested in a Council of Management, who are also
the directors and truslees of the Charity. All trustees give their lime voluntarily and receive no remuneration or
other benefits.
The company was incorporated on 22 June 1973, and is govemed by ils Memorandum and Articles of
Association as amended by special resolutions dated 27 February 1974, 17 December 1980 and 20 November
2007.
In accordance with the Articles of Association of the Company all Ihe Office Bearers and one-third of the elected
members of the Council of Managemenl retire from office al the Annual General Meeling and are eligible for re-
election.
Direclorsffruslees are recruited from the body of general members of the Society and recommended for
appointment by the Council. They are then elected al the Annual General Meeting. Induction and training is
undertaken by existing members of the Council, using both their experience and resources available from the
Charity Commission where necessary.

THE NORTHERN MILL ENGINE SOCIETY LIMITED
TRUSTEES REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Statement of Tntstees responsibilities
The Trustees, who are also the directors of The Northem Mill Engine Society Limiled for the purpose of company
law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable
law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practice).
Company Law requires the Trustees lo prepare financial statements for each financial year which give a true and
fair view of the stale of affairs of the Charity and of the incoming resources and applicalion of resources.
including the income and expenditure, of the charitable company for that year.
In preparing these financial stalemenls, the Trustees are required to-
select suitable accounting policies and then apply them consistently..
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent-,
stale whether applicable UK Accounting Standards have been followed. subject to any material departures
disclosed and explained in the financial slalements.. and
prepare the financial statements on the going concem basis unless it is inappropriate lo presume that the
Charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records thal disc105e with reasonable accuracy at
any time the financial position of the Charity and enable them lo ensure that the financial statements comply with
the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees report was approved by the Board of Truslees.
J Phillp
Trustee
Dated:

THE NORTHERN MILL ENGINE SOCIETY LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE NORTHERN MILL ENGINE SOCIETY LIMITED
I report on the accounts of the Charity for the year ended 31 December 2024. which are set out on pages 5 10 12.
This report is made solely lo the charity's tru51ees, as a body, in accordance with Section 145 of the Ch3rilies Act
2011. My work has been undertaken so that I might state to the charily's Iruslees those matters l am required to
slate to them in this independent accountanls, report and for no other purpose. To the fullest extent permilled by
law, I do not accept or assume responsibility to anyone other than the charity and the charity's Iruslees as a body,
for my reporiing ivork, for this report, or for the opinions I have formed.
Respective rosponsibillties of Trustees and examiner
The charity's Iruslees (who are also the directors of Ihe company for the purposes of company law) are
responsible for the preparation of financia5 slalemen15. The Iruslees consider that an audit is not required for this
year under Section 144(21 of the Charities Acl 2011 (the '2011 Acl'} and that an independenl exaTninalion is
needed.
Having satisfied myself that the charily is not subjecl to audit under company law and is eligible for independenl
examination, il is my responsibility to..
examine the financial statements under section 145 of the 2011 Act.
(ill lo follow the procedures laid down in the general Directions given by the Charily Commission under section
14515)(b) of the 2011 Act.. and
lili) lo slate whether particular matters have come to my attention.
Basis of independent examlner's report
My examination was carried out in accordance viiih the general Directions given by the Charity Commission. An
examination includes a review of the accob'nling records kept by the charity and a comparison of the financial
slalemenls presented with those records. It also includes consideration of any unusual items or disclosures in the
financial statements, 2nd seeking explanations from you as ITUStees concerning any such mallers. 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 financial 51atemen15 presenl a 'lrue and fair view. and the report is limited lo
those mallers sel oul in the next slalemenl.
Independent examinels ststement
In connection with my examination, no matter has come lo my allenlion..
lal which gives me reasonable cause lo believe Ihat in any material respect the requirements-.
lo keep accounting records in accordance with section 386 of the Companies Act 2006., and
lil) to prepare financial statements which accord wilh the accounting records. comply with the accounting
requirements of section 396 of the Companies Act 2006 and ivith the methods and principSes of the
Slalemenl of Recommended Practice-. Accounting and Reporting by Charities-,
have not been met.
Ibl No other matter has come lo my attention in connection with my examination to which, in my opinion,
allenlion should be drawn in order to enable a proper understanding of the financial slalemenls lo be
reach d.
Claire L Taylor BA {Honsl. FCCA
Chadwicks
Chartered Accountants
Capital House
272 Manchester Road
Droylsden
Manchester
M43 6PW
Dated..

THE NORTHERN MILL ENGINE SOCIETY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Income from:
Voluntary income
Charitable activities
Investment income
24,001
9,512
2,037
19,749
9,235
1,494
Total income
35,550
30,478
Ex
enditure on:
Raising funds
13,154
11,388
Charitable activities
11,072
11,510
Total resources expended
24.226
22,898
Net income for the yearl
Net movement in funds
11,324
7,580
Fund balances al 1 January 2024
123,380
115,800
Fund balances at 31 December 2024
134,704
123,380
The statement of financial activities also complies wilh the requirements for an income and expenditure account
under the Companies Act 2006.
There are no restllcted funds this year.

THE NORTHERN MILL ENGINE SOCIETY LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Current assets
Stocks
Debtors
Cash at bank and in hand
11
12
1,789
4.750
129,587
1,887
4,388
119,558
136,126
125,833
Creditors: amounts falling due within
one year
13
(1,422)
(2,453)
Net Current assets
134,704
123,380
Net assets excluding pension liability
134,704
123,380
The funds of the Charity
Unrestricted funds
134.704
123,380
134,704
123,380
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 December 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect lo accounting records and the preparation of financial statements.
The members have not required the company to oblain an audit of its financial statements for the year in question in
accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
The financial statements were approved by the Trustees on ...
J Phillp
Trustee
Company registration number 01119455 (England and Wales)

THE NORTHERN MILL ENGINE SOCIETY LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Cash flows from operating activities
Cash generated from operations
17
7.992
6.843
Investing activities
Interest received
2,037
1,494
Net cash generated from investing
activities
2,037
1,494
Net cash used in financing activities
Net increase in cash and cash equivalents
10,029
8,337
Cash and cash equivalents at beginning of year
119,558
111,221
Cash and cash equivalents at end of year
129,587
119,558

THE NORTHERN MILL ENGINE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Company infomiation
The Northern Mill Engine Society Limiled is a private company limited by guarantee incorporated in England
and Wales. The registered office is 84 Walkin Road. Clayton-Le-Woods, Chorley. Lancs, PR6 7PX.
1.1 Accounting convention
The financial statements have been prepared in accordance with Ihe Charity's governing document, the
Companies Act 2006 and "Accountir)g and Reporting by Charities". Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 1021" (as amended for accounting periods commencing
from 1 January 2016). The Charity is a Public Benefit Enlity as defined by FRS 102.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
Tangible fixed assets
The costs of acqLJiSition and erection of exhibits and the proceeds from Ihe sale of assets. have been written
off to the Statement of Financial activities.
Heritage assets
The charity owns and maintains various heritage assets, dating from the mid 1800's, as part of the museum.
In the opinion of the trustees, it is not appropriate to include these at either cost or valuation in the financial
statements as cost information is not readily available, valuations would be subjective and the benefits of
obtaining valuations for these items would not justify the cost.
Maintenance costs of the heritage asset5 is reported in the SOFA in the year it is incurred.
1.2 Charitable funds
Unreslricled funds comprise those funds which the trustees are free lo use in accordance with the charitable
objects.
1.3 Incoming resources
Voluntary income includes donations and legacies.
Income from activities for generating funds includes income from sale of goods and other sundry income.
Incoming resources from charitable expenditure comprises membership subscriptions and grants received.
Investment income comprises interesl, and is accounted for on a received basis.
1.4 Resources expended
Expenditure is recognised on an accrua15 basis as a liability is incurred. The charity is not registered for VAT,
and consequently all relevant expenditure includes VAT which cannot be recovered, and is reported as part of
the expenditure to which 15 relales.
Costs of generating funds comprise of the costs rèlating to activities where the primary aim is to raise funds.
Gharilable aclivilies comprise of Ihose costs incurred by the charity where the primary aim is the delivery of
activities and services within the objects of the charity. It includes both costs that can be allocated directly to
such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associaled with meeling the constitutional and slatutory requirements
of the charity and include the reporting accountants, fees and cos15 linked lo the strategic management of the
charity.

THE NORTHERN MILL ENGINE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DEGEMBER 2024
A¢¢ounting policies
(Continued)
All costs are allocated be￿een the expenditure categories of the SOFA on a basis designed lo reflect the use
of the resource. Costs relating lo a particular aclivity are allocated directly.
1.5 Stocks
Stocks are slated al Ihe lower of cost and eslimated selling price less costs to complete and sell. Cost
comprises direct materials and, where applicable, direct labour costs and those overheads that have been
incurred in bringing the stocks to their present location and condition. Items held for distribution at no or
nominal consideration are measured the lower of replacement cost and cost.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, depostts held al call with banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
Income from donations and legacies
Unrestricted
funds
2024
Unrestricted
funds
2023
Donations and gifts
24,001
19,749
3 Charitable activities
Mambgrs Activities for
$ub$criptions
g&nerating
funds
Total
2024
Total
2023
2024
2024
Activities for generating funds
Consultancy and museum hire
1,829
6,403
1,280
8.232
1,280
6,845
2,390
1,829
7.683
9,512
9,235
Income from investments
Unrestricted Unrestricted
funds
funds
2024
2023
Interest receivable
2,037
1,494

THE NORTHERN MILL ENGINE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Raising funds
2024
2023
Costs of generaling voluntary income
Rent
Other premises expenses
Other costs
450
11,679
1,025
450
9.887
1,051
13,154
11,388
Charitable activities
2024
2023
Materials and services purchased (Unrestricted funds)
Refreshments and others
Subscriptions
8,786
1,243
49
9,399
1,021
117
10,078
10,537
Share of governance costs (see note 71
994
973
11,072
11,510
Support costs
Goveman¢e
costs
2024
2023
AcGountancy
Company confirmation
slatemenl
960
960
960
34
13
994
994
973
Analysed between
Charitable activities
994
994
973
Employees
The average monthly number of employees during the year was..
2024
Number
2023
Number
Total
10-

THE NORTHERN MILL ENGINE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Employees
(Continued)
No remuneration or expenses were paid to the trustees in either year.
There were no employees whose annual remuneration was more than £60,000.
Taxation
The charity is exempt from taxation on tts aclivilies because all its income is applied for charilable purposes.
10 Heritage assets
The Charity maintains a collection of heritage assets in accordance with its published slatement of purpose..
"To collect and consetve examples of the slalionary steam engine. particularly as used in the textile and
engineering Industries of the North and North-wesl England, and to interpret the history, technical
development and application of this important prime mover. To share collections and knowledge with visitors.
steam enthusiasts nationwide and with the local community."
30 restored engines are on display at the museum. ranging in dale from 1840 to 1960, and there is an
associated collection of technical and archival malerial. The whole collection is documented and managed in
accordance wilh Accredited Museum policies.
Acquisitions and disposals are made in accordance with a formal written policy - a copy of which is published
on the Society's website (www.nmes.org) or is available on request from the regislered office.
Occasional acquisitions to the collection are made by purchase or donation. During the year ended 31
December 2024. 20 iterns were formally added to the museum collection. These consisted of archive
photographs, books and engine name-plates. In the view of the trustees. the value of the items is not
material. There have been no purchases or disposals in the last 10 years.
11 Stocks
2024
2023
Finished goods and goods for resale
1,789
1,887
12 Debtors
2024
2023
Amounts falling due within one year:
Gift aid recoverable
Prepayments and accrued income
4,191
559
3,820
568
4,750
4,388
13 Creditors: amounts falling due within one year
2024
2023
Accruals and deferred income
1,422
2,453
11

THE NORTHERN MILL ENGINE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14 Unrestricted funds
The unrestricted funds ofthe charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as lo how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 1 January
2024
Incoming
resources
Resources
expended
At31
December
2024
General funds
123,380
35.550
(24,2261
134,704
Previous year:
At 1 January
2023
Incoming
resources
Resources
expended
At31
December
2023
General funds
115,800
30,478
122,898)
123.380
15 Commitments
The company is controlled by the members in accordance with the Memorandum and Articles ofAssocialion.
The liability of the members is limited lo £1 each.
16 Related party transactions
There were no disclosable related party transactions during the year {2023 - none).
17 Cash generated from operations
2024
2023
Surplus for the year
11,324
7,580
Adjuslmenls for..
Investment income recognised in statement of financial activities
{2,037)
11,4941
Movements in working capital..
Decrease in stocks
Ilncrease) in debtors
(Decreasellincrease in creditors
98
13621
(1,031)
287
14871
957
Cash generated from operations
7.992
6,843
12-