REGISTERED COMPANY NUMBER: 02551915 (England and Wales) REGISTERED CHARITY NUMBER: 1001987
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31st March 2025
for
BREAMORE ANCIENT BUILDINGS CONSERVATION TRUST
TC Group 3rd Floor, Suffolk House George Street Croydon CR0 0YN
BREAMORE ANCIENT BUILDINGS CONSERVATION TRUST
Contents of the Financial Statements for the year ended 31st March 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 to 6 |
| Notes to the Financial Statements | 7 to 12 |
| Detailed Statement of Financial Activities | 13 |
BREAMORE ANCIENT BUILDINGS CONSERVATION TRUST
Report of the Trustees for the year ended 31st March 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal objective of the Trust is to preserve and protect lands of ecological or other scientific importance and buildings of beauty or historic interest for the benefit of the public, and especially the inhabitants of the parish of Breamore.
We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work and helps us ensure our aims, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
Significant activities
The Council of Management continues to seek such projects as will continue to enhance and preserve the historic properties in the Breamore Parish.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
During this period, the trustees have continued with repair and maintenance work to Trust property. The investigation of planning and development opportunities has progressed further, with approval granted for the potential sale of assets to generate funds which will be vital to the Trust's continued pursuit of its objectives.
Investment income
Rents have been received on properties which will contribute towards funding of future projects.
FINANCIAL REVIEW
Financial position
Rental income showed a slight increase on the previous year. Repair expenditure is mainly made up of costs relating to works on Home Farm. As with the prior year, legal and planning costs have been recognised in the balance sheet.
Reserves policy
The Council of Management has a policy to ensure that sufficient funds are in hand to plan for future developments after considering likely grants and donations.
Going concern
The trustees are satisfied that, subject to the sale of property, sufficient income will continue to be generated to continue to meet its objectives and that the charity remains a going concern.
FUTURE PLANS
As noted in the prior year, several properties require imminent work, while there may be development opportunities available with others. The funds available remain insufficient to undertake the desired projects and so the Trustees will proceed with the sale of existing leases during the year to 31 March 2026.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Page 1
BREAMORE ANCIENT BUILDINGS CONSERVATION TRUST
Report of the Trustees for the year ended 31st March 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees
New trustees are recruited as considered necessary after consultation between the trustees.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
02551915 (England and Wales)
Registered Charity number
1001987
Registered office
Breamore House Fordingbridge Hampshire SP6 2DF
Trustees
Sir E M W Hulse Mr D R Busk Mr J Wingfield Mr W J Crockatt
Company Secretary
Sir E M W Hulse
Independent Examiner
Patrick duCasse TC Group 3rd Floor, Suffolk House George Street Croydon CR0 0YN
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 9th January 2026 and signed on its behalf by:
Sir E M W Hulse - Trustee
Page 2
Independent Examiner's Report to the Trustees of Breamore Ancient Buildings Conservation Trust
Independent examiner's report to the trustees of Breamore Ancient Buildings Conservation Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts 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 accounts 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 accounts to be reached.
Patrick duCasse
TC Group 3rd Floor, Suffolk House George Street Croydon CR0 0YN
9th January 2026
Page 3
BREAMORE ANCIENT BUILDINGS CONSERVATION TRUST
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31st March 2025
| 31.3.25 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Investment income 2 38,432 EXPENDITURE ON Charitable activities 3 Property costs 10,601 Other 4 2,224 Total 12,825 NET INCOME 25,607 RECONCILIATION OF FUNDS Total funds brought forward 109,986 TOTAL FUNDS CARRIED FORWARD 135,593 |
31.3.24 Total funds £ 31,745 |
|---|---|
| 13,903 3,523 |
|
| 17,426 | |
| 14,319 95,667 |
|
| 109,986 |
The notes form part of these financial statements
Page 4
BREAMORE ANCIENT BUILDINGS CONSERVATION TRUST
Statement of Financial Position 31st March 2025
| 31.3.25 Unrestricted fund Notes £ FIXED ASSETS Heritage assets 8 246,122 CURRENT ASSETS Debtors 9 850 Cash at bank 949 1,799 CREDITORS Amounts falling due within one year 10 (112,328) NET CURRENT ASSETS (110,529) TOTAL ASSETS LESS CURRENT LIABILITIES 135,593 NET ASSETS 135,593 FUNDS 11 Unrestricted funds 135,593 TOTAL FUNDS 135,593 |
31.3.24 Total funds £ 206,426 970 2,261 3,231 (99,671) (96,440) 109,986 109,986 109,986 109,986 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 5
BREAMORE ANCIENT BUILDINGS CONSERVATION TRUST
Statement of Financial Position - continued 31st March 2025
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 9th January 2026 and were signed on its behalf by:
Sir E M W Hulse - Trustee
The notes form part of these financial statements
Page 6
BREAMORE ANCIENT BUILDINGS CONSERVATION TRUST
Notes to the Financial Statements for the year ended 31st March 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Judgements made in applying the charity's accounting policies
The simple nature of the charity's affairs means that there are no significant judgements.
Key assumptions and other sources of estimation uncertainty
There are no matters to disclose.
Financial instruments
The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.
Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the charity would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The company is a registered charity and therefore is not liable for income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
continued...
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BREAMORE ANCIENT BUILDINGS CONSERVATION TRUST
Notes to the Financial Statements - continued
for the year ended 31st March 2025
1. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted fund
The unrestricted fund consists of those funds which the company may use in furtherance of its charitable objectives at the discretion of the Council of Management.
Heritage assets
Recognition and measurement
Heritage assets are accounted for at historic cost. However, to date the heritage assets held by the charity have all been received by way of donation and their unique nature means that it is not possible to obtain a reliable estimate of their fair value. Consequently, the assets are not recognised in the Statement of Financial Position.
Acquisition
The trustees would consider the acquisition of further assets whose preservation falls within the charity's objectives should they become available, subject to the availability of sufficient funds.
Management
The trustees regularly review the condition of the charity's portfolio of assets to assess what repairs and projects are necessary.
Preservation
Once projects have been identified and sufficient funds generated, works are undertaken as necessary. The costs of preservation are recognised in the financial statements as they are incurred.
Disposal
The trustees currently consider it unlikely that any of the heritage assets would be sold as this would not be in line with the charity's objectives.
Records maintained by the entity
The charity maintains the accounting records, a list of the heritage assets held and the title documents at its registered office.
Information on the extent to which access to the assets is permitted
There are public rights of way alongside a number of the assets and tours of the historic barns are available to the public throughout the year by appointment.
Information helpful in assessing the value
The unique nature of the assets held by the charity means that there is no open market and the trustees do not consider that it is practical to obtain a valuation.
continued...
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BREAMORE ANCIENT BUILDINGS CONSERVATION TRUST
Notes to the Financial Statements - continued for the year ended 31st March 2025
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.3.25 | 31.3.24 | |
| £ | £ | |
| Rents received | 38,432 | 31,745 |
3. CHARITABLE ACTIVITIES COSTS
| 3. | CHARITABLE ACTIVITIES COSTS | ||
|---|---|---|---|
| Direct | |||
| Costs | |||
| £ | |||
| Property costs | 10,601 | ||
| 4. | OTHER | ||
| 31.3.25 | 31.3.24 | ||
| £ | £ | ||
| Support costs | 2,224 | 3,523 | |
| 5. | INDEPENDENT EXAMINER'S REMUNERATION | ||
| 31.3.25 | 31.3.24 | ||
| £ | £ | ||
| Fees payable to the charity's auditors for other services: | |||
| Independent examination | 2,224 | 1,400 | |
| Other non-audit services | - | 2,123 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2025 nor for the year ended 31st March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2025 nor for the year ended 31st March 2024.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |
|---|---|
| Unrestricted | |
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Investment income | 31,745 |
| EXPENDITURE ON | |
| Charitable activities | |
| Property costs | 13,903 |
| Other | 3,523 |
| Total | 17,426 |
continued...
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BREAMORE ANCIENT BUILDINGS CONSERVATION TRUST
Notes to the Financial Statements - continued for the year ended 31st March 2025
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - | continued |
|---|---|
| Unrestricted | |
| fund | |
| £ | |
| NET INCOME | 14,319 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 95,667 |
| TOTAL FUNDS CARRIED FORWARD | 109,986 |
8. HERITAGE ASSETS
The company acquired various freehold and leasehold properties situated in the parish of Breamore from Sir Edward Hulse, all at no consideration. The trustees consider that it is impossible to obtain a reliable estimate of the fair value of these unique heritage assets as there is no open market. Consequently no cost is ascribed to them in the Statement of Financial Position other than professional fees that have been incurred related to potential planning and development opportunities.
Those remaining properties comprise:-
LEASEHOLD PROPERTIES (99 year leases - commenced 24th June 1992)
South Charford Farm
Tithe Barn. Timber and tiled. Cart Shed and loft over. Timber and slate. Implement Sheds. Cart Sheds. Cob and thatch wall.
North Street Farm
Barn. Timber and tiled. Stable and loft over. Brick and tiled. Open bay Cartshed. Timber and tiled.
Home Farm
Tithe Barn. Timber and tiled. Cart Sheds. Timber and tiled. Stables. Timber and tiled. Staddle Barn. Timber and tiled.
Topps Farm
Cart Shed and loft over. Timber and slate. Cart Shed. Timber and tiled. Barns. Brick, timber and tiled. Staddle Barn. Timber and tiled.
Miscellaneous
Cart Shed and stables, Upper Street. Timber and tiled. Staddle Barn, Rockery Lane. Timber and tiled. Saw Bench Workshop.
continued...
Page 10
BREAMORE ANCIENT BUILDINGS CONSERVATION TRUST
Notes to the Financial Statements - continued for the year ended 31st March 2025
8. HERITAGE ASSETS - continued
Timber Store. Store, Timber yard. Brick and tiled. Stables, Cottage and Garage. Brick and tiled. Clock Tower. Factory.
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Amounts owed to related parties Accruals and deferred income 11. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.4.24 £ 109,986 109,986 Incoming resources £ 38,432 38,432 |
31.3.25 31.3.24 £ £ 850 970 31.3.25 31.3.24 £ £ 650 11,048 109,203 86,953 2,475 1,670 112,328 99,671 Net movement At in funds 31.3.25 £ £ 25,607 135,593 25,607 135,593 Resources Movement expended in funds £ £ (12,825) 25,607 (12,825) 25,607 |
|---|---|---|
continued...
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BREAMORE ANCIENT BUILDINGS CONSERVATION TRUST
Notes to the Financial Statements - continued for the year ended 31st March 2025
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.4.23 | in funds | 31.3.24 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 95,667 |
14,319 | 109,986 |
| TOTAL FUNDS 95,667 |
14,319 | 109,986 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 31,745 |
(17,426) | 14,319 |
| TOTAL FUNDS 31,745 |
(17,426) | 14,319 |
12. RELATED PARTY DISCLOSURES
The Estate of Sir Edward Hulse Bt.
The estate of former trustee the late Sir Edward Hulse Bt. had rented one of the refurbished properties at a commercial rate in the sum of £3,850 in the current and previous financial year.
This rent assists in the finance of future renovations.
During a prior period the charity was invoiced £3,879 for repairs to one of its assets which was paid by the late Sir Edward Hulse Bt. As at the date of the Statement of Financial Position, this amount was owed by the charity to his estate (2024 - £3,879). This amount is not secured and is repayable without interest.
Page 12
BREAMORE ANCIENT BUILDINGS CONSERVATION TRUST
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for the year ended 31st March 2025 | |||
| 31.3.25 | 31.3.24 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Investment income | |||
| Rents received | 38,432 | 31,745 | |
| Total incoming resources | 38,432 | 31,745 | |
| EXPENDITURE | |||
| Charitable activities | |||
| Repairs and renewals | 6,071 | 13,039 | |
| Property costs | 4,530 | 864 | |
| 10,601 | 13,903 | ||
| Support costs | |||
| Governance costs | |||
| Independent examiner's fees | 2,224 | 3,523 | |
| Total resources expended | 12,825 | 17,426 | |
| Net income | 25,607 | 14,319 |
This page does not form part of the statutory financial statements
Page 13