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 2025
THE NORTHERN MILL ENGINE SOCIETY LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Chairman
N Carney
Treasurer and Secretary
J Phillp
Membership Secretary
M Bray
'Flywheel' Editor
Vacant
Publicity Officer
Vacant
Elected Members of Council
D Raffe, A Ratcliffe
S Dimunates, J Leifer
Secretary
J Phillp
Charity number
532259
Company number
01119455
Registered office
84 Watkin Road
Clayton-Le-Woods
Chorley
Lancs
PR6 7PX
Independent examiner
Chadwicks
Chartered Accountants
Capital House
272 Manchester Road
Droylsden
Manchester
M43 6PW
Bankers
The Royal Bank of Scotland plc
Customer Service Centre
Drummond House
1 Redheughs Avenue
Edinburgh
EH12 9JN
National Savings & Investments
Glasgow
G58 1SB
Nationwide Building Society
Kings Park Road
Moulton Park
Northampton
NN3 6NW
THE NORTHERN MILL ENGINE SOCIETY LIMITED
CONTENTS
Page
Trustees report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Statement of cash flows
6
Notes to the financial statements
7 - 12
THE NORTHERN MILL ENGINE SOCIETY LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The trustees, who are also directors of the company present their report together with the unaudited financial statements of the charity for the year ended 31 December 2025.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's Act 2011, the Companies Act 2006 and “Accounting 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 102) (effective 1 January 2015)”

Objectives and activities

The Object of the Charity is to advance the education of the 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 'Bolton 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 to professional museum standards as regards collections management, 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 duties to which the guidance would be relevant.

They are satisfied that the charitable company's activities are in line with its charitable objects (above) and are being delivered for the benefit of the general public.

Achievements and performance

During 2025 the society held 10 steam days during the year at the museum. Approximately 1,400 visitors also attended on other days to view the engines when some were operated on electric drive. The society had to pay twice the 2021 rate for the gas supply to fire the steam boiler and almost 3 times the rate for electricity. In spite of this, the Trustees do not consider that these additional costs will significantly affect the operation of the museum.I t was not necessary to use any external grants or loans.

Interpretation of the collection is provided by photographic displays, museum guides, information panels and verbally by museum volunteers. In addition, a programme of lectures to external bodies on local industrial archaeology subjects is undertaken and a website is maintained where photographs and full technical details of the entire engine collection are available, together with descriptive material to set the engines in their historic context.

Membership of the Society is open to anyone on payment of a modest subscription. A magazine - 'The Flywheel' containing articles on steam engineering and industrial history, is issued to members periodically.

Financial review

Reserves policy

The Council regularly reviews the amount of reserves held by the Society. The Society has no secure regular source of income, apart from membership subscriptions, which are insufficient to cover operational costs. The majority of income is from donations, which vary from year to year. In addition, as part of the future museum development plans, and to provide for one-off maintenance work, the Society will be expected to fund at least part of the costs from its own resources. The trustees consider it prudent to hold reserves to 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 the year of £18,374 compared with a surplus of £11,324 for the previous year (unrestricted transactions).

THE NORTHERN MILL ENGINE SOCIETY LIMITED
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

Risk management

The major risks to which the Society is exposed, as identified by the Council, have been reviewed and a system has been established to mitigate 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 (registered in England, number 01119455). The Northern Mill Engine Society Limited 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
(Resigned 17 November 2025)
D Lewis
(Resigned 17 November 2025)
G Drake
(Resigned 17 November 2025)
D Raffe
B Patel
(Resigned 17 November 2025)
A Ratcliffe
S Dimuantes
M Bray
J Leifer

Management of The Northern Mill Engine Society Limited is vested in a Council of Management, who are also the directors and trustees of the Charity. All trustees give their time voluntarily and receive no remuneration or other benefits.

The company was incorporated on 22 June 1973, and is governed by its 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 the Office Bearers and one-third of the elected members of the Council of Management retire from office at the Annual General Meeting and are eligible for re-election.

Directors/Trustees are recruited from the body of general members of the Society and recommended for appointment by the Council. They are then elected at 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.

Statement of Trustees responsibilities

The Trustees, who are also the directors of The Northern Mill Engine Society Limited 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 (United Kingdom Generally Accepted Accounting Practice).

The Trustees r eport was approved by the Board of Trustees.

J Phillp
Trustee
Dated: 9 April 2026
THE NORTHERN MILL ENGINE SOCIETY LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE NORTHERN MILL ENGINE SOCIETY LIMITED
- 3 -

I report to the Trustees on my examination of the financial statements of The Northern Mill Engine Society Limited (the Charity) for the year ended 31 December 2025.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the Charity as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Claire L Taylor BA (Hons), FCCA
Chadwicks
Chartered Accountants
Capital House
272 Manchester Road
Droylsden
Manchester
M43 6PW
13 April 2026
THE NORTHERN MILL ENGINE SOCIETY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -
2025
2024
Notes
£
£
Income from:

Voluntary income

2
25,578
24,001

Charitable activities

3
9,451
9,512

Investmen t income

4
2,333
2,037
Total income
37,362
35,550
Expenditure on:

R aising funds

5
14,676
13,154
Charitable activities
6
4,312
11,072
Total resources expended
18,988
24,226
Net income for the year/
Net movement in funds
18,374
11,324
Fund balances at 1 January 2025
134,704
123,380
Fund balances at 31 December 2025
153,078
134,704
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
There are no restricted funds this year.
THE NORTHERN MILL ENGINE SOCIETY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 5 -
2025
2024
Notes
£
£
£
£
Current assets
Stocks
11
1,689
1,789
Debtors
12
3,959
4,750
Cash at bank and in hand
148,944
129,587
154,592
136,126
Creditors: amounts falling due within one year
13
(1,514)
(1,422)
Net current assets
153,078
134,704
The funds of the Charity
Unrestricted funds
14
153,078
134,704
153,078
134,704

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 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain 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 9 April 2026
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 2025
- 6 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
17
17,024
7,992
Investing activities
Interest received
2,333
2,037
Net cash generated from investing activities
2,333
2,037
Net cash used in financing activities
-
-
Net increase in cash and cash equivalents
19,357
10,029
Cash and cash equivalents at beginning of year
129,587
119,558
Cash and cash equivalents at end of year
148,944
129,587
THE NORTHERN MILL ENGINE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
1
Accounting policies
Company information

The Northern Mill Engine Society Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 84 Watkin Road, Clayton-Le-Woods, Chorley, Lancs, PR6 7PX.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006 and “Accounting 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 102)” (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity 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 acquisition and erection of exhibits and the proceeds from the 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 assets is reported in the SOFA in the year it is incurred.

1.2
Charitable funds

Unrestricted funds comprise those funds which the trustees are free to 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 interest, and is accounted for on a received basis.

1.4
Resources expended

Expenditure is recognised on an accruals 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 is relates.

Costs of generating funds comprise of the costs relating to activities where the primary aim is to raise funds.

Charitable activities comprise of those 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 associated with meeting the constitutional and statutory requirements of the charity and include the reporting accountants' fees and costs linked to the strategic management of the charity.

THE NORTHERN MILL ENGINE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 8 -

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly.

1.5
Stocks

Stocks are stated at the lower of cost and estimated 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, deposits held at 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.

2
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Donations and gifts
22,578
24,001
Legacies
3,000
-
25,578
24,001
3

Charitable activities

Members subscriptions

Activities for generating funds

Total
2025
Total
2024
2025
2025
£
£
£
£

Activities for generating funds

1,668
6,283
7,951
8,232

Consultancy and museum hire

-
1,500
1,500
1,280
1,668
7,783
9,451
9,512
THE NORTHERN MILL ENGINE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
4
Income from investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Interest receivable
2,333
2,037
5

R aising funds

2025
2024
£
£

Costs of generating voluntary income

Rent

450
450

Other premises expenses

13,091
11,679

Other costs

1,135
1,025
14,676
13,154
6
Charitable activities
2025
2024
£
£

Materials and services purchased (Unrestricted funds)

2,356
8,786

Refreshments and others

818
1,243

Subscriptions

49
49
3,223
10,078
Share of governance costs (see note 7)
1,089
994
4,312
11,072
7
Support costs allocated to activities
2025
2024
£
£
Governance costs
1,089
994
Analysed between:
Charitable activities
1,089
994
THE NORTHERN MILL ENGINE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
7
Support costs allocated to activities
(Continued)
- 10 -
2025
2024
Governance costs comprise:
£
£
Accountancy
1,008
960
Company confirmation statement
34
34
Data protection fee
47
-
1,089
994
8
Employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
Total
0
0

No remuneration or expenses were paid to the trustees in either year.

There were no employees whose annual remuneration was more than £60,000.
9
Taxation

The charity is exempt from tax ation on its activities because all its income is applied for charitable purposes.

10
Heritage assets

The Charity maintains a collection of heritage assets in accordance with its published statement of purpose: "To collect and conserve examples of the stationary steam engine, particularly as used in the textile and engineering industries of the North and North-West 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 date from 1840 to 1960, and there is an associated collection of technical and archival material. The whole collection is documented and managed in accordance with 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 registered office.

Occasional acquisitions to the collection are made by purchase or donation. During the year ende d 3 1 December 2025, 5 items 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
2025
2024
£
£
Finished goods and goods for resale
1,689
1,789
THE NORTHERN MILL ENGINE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Gift aid recoverable
3,288
4,191
Prepayments and accrued income
671
559
3,959
4,750
13
Creditors: amounts falling due within one year
2025
2024
£
£
Accruals and deferred income
1,514
1,422
14
Unrestricted funds

The unrestricted funds of the charity compri se the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be use d. The se include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January 2025
Incoming resources
Resources expended
At 31 December 2025
£
£
£
£
General funds
134,704
37,362
(18,988)
153,078
Previous year:
At 1 January 2024
Incoming resources
Resources expended
At 31 December 2024
£
£
£
£
General funds
123,380
35,550
(24,226)
134,704
15
Commitments

The company is controlled by the members in accordance with the Memorandum and Articles of Association.

The liability of the members is limited to £1 each.

16
Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

THE NORTHERN MILL ENGINE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
17
Cash generated from operations
2025
2024
£
£
Surplus for the year
18,374
11,324
Adjustments for:
Investment income recognised in statement of financial activities
(2,333)
(2,037)
Movements in working capital:
Decrease in stocks
100
98
Decrease/(increase) in debtors
791
(362)
Increase/(decrease) in creditors
92
(1,031)
Cash generated from operations
17,024
7,992
2025-12-31 2025-01-01 false false false CCH Software iXBRL Review & Tag 2025.2 01119455 2025-01-01 2025-12-31 01119455 bus:CompanySecretary1 2025-01-01 2025-12-31 01119455 bus:Director1 2025-01-01 2025-12-31 01119455 bus:Director2 2025-01-01 2025-12-31 01119455 bus:Director3 2025-01-01 2025-12-31 01119455 bus:Director4 2025-01-01 2025-12-31 01119455 bus:Director5 2025-01-01 2025-12-31 01119455 bus:Director6 2025-01-01 2025-12-31 01119455 bus:Director7 2025-01-01 2025-12-31 01119455 bus:Director8 2025-01-01 2025-12-31 01119455 bus:Director9 2025-01-01 2025-12-31 01119455 bus:Director10 2025-01-01 2025-12-31 01119455 2025-12-31 01119455 2024-12-31 01119455 2024-01-01 2024-12-31 01119455 bus:FRS102 2025-01-01 2025-12-31 01119455 char:IndependentExaminationCharity 2025-01-01 2025-12-31 01119455 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP