REGISTERED COMPANY NUMBER: 022698941EngIand and Walos) REGISTERED CHARITY NUMBER: 800297 REPORT OF THE TRUSTEES AND UNAUDrrED FINANCIAL STATEMEpirs FOR THE PERIOD I FEBRUARY 2020 TO 31 PAARCH 2021 FOR BATH INDUSTRIAL HERrrAGE TRUST upArrED &412NE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1 FEBRu￿y 2020 TO JI MARCH 2021 Report of the Trustees 1 to 4 Ind¢p•ndent Examlnfjrfs Report Statemant of Flnanclal Activitles Balance Sheet 7 to 8 Notss to the Flnanclal Ststements 9 10 14 Detallod Statsm•nt of Finanehl Aetl¥lll•* 15 to 16 BATH INDUSTRIAL HERITAGE TRUST uAvfED IREGISTERED NUMBER. 02269W) REPORT OF THE TRUSTEES FOR THE PERIOD 1 FEBRUARY 2020 TO 31 IAARCH 2021 The INStees vtho are atso dirKtU8 ofthe tharty futhe puryxw cl the Comparwes Act 20C6. wosent th￿1 report with Ihe financial statements of the charty for the pertoj 1 F¢bnJary 2W20 to 31 March 2021. The trust￿ have adopted the pro￿1$10￿$ of Aeeounling snd Rel￿n9 by C￿tIes. Staterngnt of Recommendgd Pr8ctice appli￿ble to eharities preparing their accnunts in accordanc• wkth tre Financial Rgporting Standard appltibl& in the UK end Republi¢ of Ireland IFRS 1021 (effective 1 January 2019). 08JECTIVES AND ACTMTIES ObJectlv8$ and alms The objectives of the company are to ad￿nts the edueatiu) of the p(d>lic ￿ Bath'$ indt¢strial ￿Titage through the maintenance of The Museum of Bath at Work: and to extstxl, enha￿8. c￿￿er￿0. Ma￿thA and sloro the colle¢tions of the Museum. Flnanclal revl•w During th8 peri1￿ under r￿￿￿, the ccffipany ehanged th6 Aecounb'ng Ref8r•nee Dale lo 31 M¥Tch,. the ¢hang? was approved by th& Board on 21 May 2021. These knnl$ and the Trustees Report Iherefue cover Ihe 14 month period 1 February 2020 to 31 ma￿ 2021 Total incoming re8￿j1Ces for pemd in(xva5&1 frcffl £59.520 {12 m(xths) to £110,460 114 morrthsl. This included donations over the 14 months of £28,167 (£21,￿1 - 12 months 20191201. Re50urrM expended have increased from £68,042 10 £86.299. d(te to more expeTraiture on m•ntenance of tho Museum and the ¢xtra 2 month wriod. Overdu the funds ofth8 iwoased from £49,X2 to £73,453. Pag8 1 BATH INDUSTRJAL HER￿AGE TRUST LpiftED IREGISTERED NUMBEK" 02269894) REPORT OF THÉ TRUSTEES FOR THE PERIOD I FEBRUARY 2020 TO 31 PAARCH 2021 OBJECTIVES AND ACTivmES Public bengfit The company contlnued to provide for pubk bor*fft uThJer ts charitsb￿ c*iects. In preparing this reF*Jt Ihe Trustees have wnpli>J with therdutyto ward to the Charlty C￿mISS￿,8 pU￿e b*n8fft ￿ldanc8. For almost the whole p8rfod ¢¢fiSKlered in thi8 roport. thè ¢¢Knpany vms aff&X¢d by the series of natlonal la¢kdowns dlw lo the CoM&19 Parth￿. In a r￿mi81 year the MY￿Um be open $￿en days a wegk trom 1 Apnl to 31 O¢tob6r, weekend8 On￿ in January-IAarch and Nov&xber. and closed in D￿eMber. In 2020r21. the business Continu￿ adrninistratpm opera￿￿ wats to ts pubk a¥ folhyhTr" 1 February- 22 Ma￿h 2020 Open as nomHI 1*wk•￿ds onty) 23 March - 3 July Cbsed by ILcthd(xrb 11 4-31Juty Closed to lrtsuff￿￿nI number of volunlegrn 1 August-4 November Open WA of nomial he4Jr¥ due to insuffKient nwnb•r of Nrgluntee (daty, aftemcons ontyl Ckjsed by Law ILct (* allent1￿ on 8ofA•I rr&i& Financkdly th8 busing8$ ha8 been severety Knpacted by tho of chjsure we re¢eNed Th) incom• at an. We acknovAgJge here the support of the UK Gowmmanl has provhjed grants to supwt dose(I busine88es. Grants receNed by the company duthg the uthr rovvw￿ro. April 2020 Retsil Leisure Hospitality grart Covi>19 23 March- 31 Juty 2020 L0¢81 Re5trict¥)ns SupF*Jt Grant C￿#￿19 5 Nov- 2 Dec 2020 LRSG ICknBerfl Add￿d￿ 6 tAwks CrfvKts19 5Jan-15Feb2021 clos￿ Bu$5n8ss Lock￿ Pasfjnent Cotrid-19 5Jan-15 Feb2￿21 LRSG AtlderKILm 6 t**ek5 gTrnt Covid-19 16 Feb- 31 March 2021 November 2¢r20 Febnjary 2￿1 February 2021 March 2021 £3.143 Pop2 BATH INDUSTRIAL HERrrAGE TRUST LIMrrED IREGISTERED NUMBER" 022898941 REPQRT OF THE TRUSTEES FOR THE PERIOD 1 FEBRUARY 2020 TO 31 MARCH 2021 OBJECTIVES AND ACTIVITIES We also successfully apF4ied for an Emeryrn Grant from kn COU￿11 Engiand 1£28.000). Thkl contributed £10,000 lo operating costs and £18.0¢￿ lo 8 consultant Caroline TaOor As￿lat@S, lo assist swth fundr8isinq. During tho See0r￿ hall of 2020 and the months of 2021. we conc8ntr8ted &ffort into vKibns funding applications to granl-giving trusts and foundations. This is a very comwrtive erwironment and the expertise of Caroline Taylof AsS￿lateS vras iWdlu8ble," tttey a150 provid&1 Irainng lo thé BD2rd in fundraising techniques, and a dIagn￿lS of buslnes8e8 strength8. risks cwortunitEs. INe hope that some of the appliGalion5 6ubmitted in 2020rd1 wdl provt s￿(¢55[￿ ¥12021r21 Thg Board rrwntaTh a Risk RegLster which is rewewed al every Board mtiettng. It vras with iegrel that we heard in May 2020 Tho Stq)hen Clarf( Char￿th Setllern8nt 1965 vrds unable lo continue ftjnding the Musèum. Thi¥ marks the end of an wnportant and value(I partnership that startod in 1978 when the MLtseum was founded, arKt later in 2029 came thg news that C4Je of the three founders of the Msjseum, Dr Marianna Clark. had p￿d 98. Comb¥ied wlh the loss of income due to the Co¥i>19 pandemt. of the Clart Trust tunding {prwou8 £10.000 per annum) adds slgnfv8nt Pre￿Ure to the business. We arè dètermined to genefat• increased income from all sour¢¢$, including.. increa$wJ Msilor numbern, W￿reased shop sal&8, onfine tslk¥. indwidual giviThJ, arid gr8ntg. We need lo achieve at least £30,000 from m￿￿'ple source$. in addition to regular eamgd income. lo cov operalirwJ Costs. However, rt is realigb"¢ to note that all small ll￿eptht museum8 are experiencing ident￿1 pressures to thosè that we face. al￿ the of domand for grants from Arts Council Eryjland and National Loltsry Heritage Fund 15 unprec?Jen￿. We a￿ gratefvl to Bath & N¢)rth East Somerset c￿n¢T5 Herwe SgrvKes f￿ their ongoing support subsidising SOQA of our renL We have also benefrted frryn business aolfjce support from Cool Venture8 (Bath-based business support and training) and Re4uihJing Herrtage InatiorAI inrtJatNg 10 8UFg0rt the hèritagè and museums sedorl. Consultants in the fiekls of Ofgani5al•Jnd develcwenL busÈness plannNIg and HR have contrbuled tsme lo us. fre8 of ¢harge, thanks lothèse pUbl￿wUnded schanes. Achievem8nts and pofft*mi*nc• Visitor numbers were very dur¥w the 14 morth urbjer re4fje4Y, the total ￿liOr numbws wpre ]888 than 40% of the Previous yearfs total: 2020r21 2.C69 158 253 2019rdo 4.501 352 389 439 517 400 443 7.041 Adurt full-price tick•t Concession I￿ket Famity ticket Bath and North East Somerset Discovery Card Events attendance, including film screenings School chddran and young pa other a¢tivitie5 attendance To181 2.736 The Fr¢onds of Museum of 88th at Work Cont1n￿ to cnxiat in fvndraisiny and volutttooring, together wrth numerous other volunteers ￿ Nn the front desk, assist wfth maintenancè of machinery and other exhibts, and undertakè ￿searCh and catak4JuirvJ. In May 2020. The Friends of Museum of Bath at Work IRegi51ered Charity 275358} Irartsferred its assets to Bath IThluSt￿ kkrilage Trust Ltd 8nd dosed the charity. Tho Fri8ndF of Museum of Bath at Work commtiea eontlliue to acti￿￿ wilh thg Board and it is hoped that li w￿1 become an offtlal 8UtKornmittaè of the Board in ts cclning sw. Board membern contribuie very $13nrfKant Ivne and eX[￿rt￿￿ 68pe• ￿ fur*j￿ry. In June 2020, one Trust9e￿ireCtOr reSIgr￿.. the￿ wtrn •pF￿￿OnI* The Board sincerely thanks the Museum Direclor. Stwt Bvrroughs, for his commilmgnt lo the Museum and ils collection. Part￿u￿rty throughtyth thi.s past drfr￿Ul1 year. BATH INDUSTRIAL HERITAGE TRUST UMrrED IREGISTERED NUMBEFL. 022698941 REPORT OF THE TRUSTEES FOR THE PERIOD 1 FEBRUARY 2020 TO 31 PIARCH 2021 STRUCTURE, GOVERNANCE AND MANAGEMENT Govtrrning document The charty 1$ Controlled by it8 govemin9 dwJmenL a deed of tW8L &￿tlUteS a linited ¢(*npany. limiteAJ by guarantge, 88 defined by the Companw Act 21x6. REFERENCE AND ADMINISTrATIVE DETAILS Reglstgrgd Company numbèr 022698Y4 IEn9land and Wths) Regl$ter•d Charlty number 800297 Rogi5tgred offico Museum of Bath 8t W¢xk Jvllan R08d Bath 8A12RH Trusteos E H Cross Dr S L Frears (resigned 28.6I0} JLHall P J Mgtcawe Dr T J Turpin G J O Wallis Professor A B Sumn E Lane Ms A Cullis Profes50r J B Hannam Company Secr•tsry Ms A Cullis Independent Examln•r Matt Small FCA Berkeley HA11 M8rshaTh Limtted 6 Chartrjtte Streel Bath BA12NE Approved by ofthe board oftrustee8 on ... DrTJTurpin-T PwJe 4 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BATH INDUSTRIAL HERITAGE TRUST UMrrED (REGISTERED NUM8EK. 02269894) Independgnt gxamlnotrs report to the trustees of Bath Indu¥trlal Heriiage frust Llmknd fthe Company'l I rekX)rt lo the charty trustses on my examinatp?n of the acGounts of the CcThpany for th8 peTrJd 1 FebnJ8ry 2020 to 31 March 2021. R￿pONsibl11t1$¥ and basis of leport As the charivs tNstees of the Comw Iwd 8kn 18 dyectm fDr the puryKsses of company are responsible for the preparat￿ of th¢ a¢Mnts in a¢GLyd￿ with ts requirements of the G¢xr¢panles Act 20G6 Ilhe 2Q(A Acr). Having salisfi9d M￿lf that the accounts of the Company are not wuired lo be audrted under P•1 16 of the 2006 Act and are elKjib￿ for indgpondw)t ox8min*on, I report in respect of my examination of your chariV8 account as ¢arried out under sect￿￿ 145 Gf the char￿e5 Act 2011 Phe 2011 Ad'l. In Carrying out my oxarnination I have followed the Directions gN8n by th• Chaiity COMM￿$10￿ urbdèr saction 14q5) (b) of th? 2011 A¢L Ind8pond8nt gxamln9rf$ slatement I have completed my examinatton. I c￿M mth¥ halp t>)me to my attenkn In Conn￿tIon with the •xamination giving me cau80 to accounting records were not kept in respect ofthe Company as roquw•d by sethon WJ of the 21x6 Act,. or the &counl8 do not accord wth tr￿e ret<>rds", or the accounts do not Comp￿ wrth the 8ccounkn.ng Wur￿ents of w*ion 396 of the 20(￿ Art other than any requir8menl th21 the a￿)Unts gPK a true aThJ f*r 15 rd a molter con8Klered as part of an independent ex8minalKJn: the accounts have nol been p￿pa￿ pi a¢ctAdwu ￿ryth the methcrfls and priwples ol thè Statement of Recomm¢nded Pra¢tu for x¢ounUng and rsportiThJ ty chari￿￿ lapplrAble lo charttiès praparing thoir accounts in *eordarKe ¥￿th th¢ Finan¢ial Repotting Standard wluble in the UK and Ropublie of Ir¢land IFRS 1021). I have no wncgms and rAne ￿0$5 no athsr mottws in connecfion V+ith the examsnatioft to which thnt¥)n should be drawn in thks report in order lo enab￿ a proper ￿￿le￿tanding of the accounts ¢0 be reathed. Matt Small FCA Bert(eley Hall Marshall LAn1￿j 6 Charfotte Street Bath BA12NE BATH INDUSTRIAL HERrrAGE TRUST UMrrED STATEMENT OF FINANCIAL ACTMllES FOR THE PERJOD 1 FEBRUARY 2020 TO 31 IAARCH 2021 Perlod 1.220 Year Ended 31.1.20 Totsl fvnd8 31.321 Tot•1 funds INCOME AND ENDOIVMENTS FROM Donation5 and legacies 28.168 21.￿1 Charltable actlvltlos Charitable aclwity 7.598 7,598 26,177 Otherlrading athitse Investment incom8 other Income 769 145 44781 769 145 73,781 4,169 151 Totsl 81121 110,461 59,520 EXPENDITURE ON Raising funds 19,542 Gharknble actlvltios charitab￿ actNty 37,193 42.128 43,459 oth 3.041 T¢)tal 29.739 88.042 NET INCOMEIIEXPENDrruREI 11.399) 24.161 {6.5221 RECONCIUATION OF FUNDS Total funds brought fiwward 55.814 TOTAL FUNDS CARRIED FORWARD 19. 49.292 BATH INDUSTRIAL HERITAGE TRUST uMrrED IREGISTERED NUMBEIL 02269894) BALANCE SHEET 31 MARCH 2021 2021 Total funds 2020 fund furkls fvnds FIXED ASSETS Tangible assots ln 8A13 8.586 13,754 CURRENT ASSETS Stocks Cash at bank 1.604 34,814 11.186 11.186 88.634 38,418 CREIXTORS Amounts tallino due one 10 11.7fn 11.767) {8801 CURRENT ASSErs 53.681 11.186 64,867 35.538 TOTAL ASSETS LESS CURREI LIABIUTIES 19.599 73,4S3 49.292 NET ASSETS 19,599 73,453 49,292 FUNDS Unrestricted fund$ Restr￿ted fvnds 11 53.854 19.599 28.294 20.998 TOTAL FUNDS 73,453 49.292 Tho Charitablp wnpany is enlitled to exwnption frryn a¥Jit urthr Sth? 477 of th8 Cornpanle5 Act 20(￿ for the peric¥J ended 31 March 21T41. Tho msmbèrs have not requw•d thè eompany to obtain an audit ￿ its financial slatwnents the per￿d erKled 31 March 2021 in 3￿r￿nCe Section 476 of th¢ Cc¥npanwk¢ 2CK6. The trustees ad[n￿tedge their responsibltbes for {a) ensuring that the Ch#rirab￿ company kew a¢courtirwJ records that with S•dtrJ)$ 386 and 387 of thg Companies Act 20C6 and prèparing financk?I statements tpknKh 9nfv a arKI falr v** of the stats ol affai￿ rf the charitsble company as at the end of e￿h ffinanC￿ year and of it¥ 8urplus or der￿tt fof each financial year In &rcordance ￿th the requirements of Sth5 394 and 395 and whth otherwise compiy wrth the requirements of the Comp8nres Ad 21x6 rektirfj to ffinaftcd statements. 80 for as applicable to the ¢haritabl8 cc*np8ny. {b> BATH INDUSTRIAL HER￿AGE TRUST UMrrED (REGISTERED NUMBER: 02269894 BALANCE SHEET- ¢tirfiTru8d 31 MARCH 2021 Thes¢ r5nan￿al stslèments have been prepa￿￿ in a￿￿dar￿e with prOV￿￿Th to charltablè companies Subject to the small ¢ompantes regung. a￿la1 slaternents th*re •ppro¥*d by ts Bowd crf TrustK¥ and authorised for on .. and wère $YJn¢d ￿ its behaw by. T J Tyrpi The notes fom) part rf th88e finanrial $tatwnonts Page 8 BATH INDUSTRIAL HERITAGE TRUST UIIITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 FEBRUARY 2020 TO 31 MARCH 2021 ACCOUbnlNG POUCIES Basls of preparlng the financlal statwnonts The financial statements of the charltabk eompgrry. o Publ￿ ￿naffl ontsty undèr FRS 102. hav¢ been preparéd in accord8nee wth the Ch8ith8 SORP {FRS 102) 'Aceountin9 and Report￿9 by Char&ties'. statement of Recommended P(actice apptscth to charities preparing ￿COUnts in accordance Mlh the Financial ReF)Ortin9 Standard appl￿ble in the UK and RepublK of Ire]and (FRS 1021 (effective 1 January 2019)., Financial Report￿￿ Standar