Charity Registration No. 1044514 Company Registration No. 03020005 (England and Wales) COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Secretary Charity number Company number Registered office Independent examiner Bankers MrS A Hall Mr A G Marsden Mr CJ Betts Mr RA Crayston Mr P Bowman Mr WE Hayton Mr SM East Ms LAD Kleineidam Mr G Armstrong Mr D Balcombe Mr NS Charrington Ms I M Day Mr S A Hall 1044514 03020005 Walcotts Hall Coggeshall Road Great Tey Colchester Essex CO6 1AH Vincent Mellett FCCA Granite Morgan Smith Limited 122 Feering Hill Feering Colchester Essex CO5 9PY HSBC 26 High Street Colchester Essex CO1 1DG Retired 18/09/2024 Appointed 20/12/2024 Appointed 31/01/2025
Company Registration No. 03020005 (England and Wales) COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST CONTENTS Trustees report Page 1-4 Independent examiner's report 5 Statement of financial activities 6 Balance sheet 7 Notes to the financial statements 8-12
Company Registration No. 03020005 (England and Wales) COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their report and financial statements for the year ended 31 March 2025. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with 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 Standards applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing 1 January 2016). Objectives and Governance The Trust's objective is to preserve the historical, architectural and constructional heritage that may exist in Colchester and North East Essex, for the benefit of its local and wider community. The Trust is a Company limited by guarantee and a registered charity, governed by its memorandum and articles of association. The Trust has appointed two new Trustees whose specific experience in public relations and hospitality have been added to the skillset of the Board. One trustee retired after several years of helpful input and service. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.
Company Registration No. 03020005 (England and Wales) COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and Performance Jumbo Our objective has been and remains the restoration and adaptation of the Grade Il* Listed Balkerne Water Tower, colloquially known as "Jumbo", situated at the highest point in the city centre of Colchester. The Jumbo Project has been the main focus of the Trust's activities during this period Following on from our agreement to a 150-year lease with the tower's owner, The Jumbo Project will see the building become a financially viable attraction that embeds community and social impact. Significantly, in January 2025 the Trust received planning and listed building consent to undertake its long held ambition to conserve this iconic building and make it accessible to the public in an exciting and innovative way. This was achieved following solid support provided by the National Lottery Heritage Fund within our Part 1 Application, Historic England and an allocation of monies from the UK Government's Towns Deal Fund. These funds enabled the Trust to appoint and closely work with suitable consultants across a wide range of specialist skills to develop the plans for the future of Jumbo. The National Lottery Heritage Fund Part 2 application was agreed in January 2025. Via its National Lottery Memorial Fund they confirmed funding of E8m and Historic England confirmed funding of £0.550m. This security of funding, along with the Towns Deal and other foundations and private donations, has meant that the Trust is now able to start the delivery of the project. Contracts will be signed by early summer 2025 and the building project is expected to take 15-18 months to complete, followed by a fitting out period. The target opening date of Jumbo to the local and wider community is 2027. Interactions To prompt awareness of, and donations to, The Jumbo Project, the Trustees and helpful volunteers have been active in escorting small tour groups up the tower to see the magnificent architecture and construction skills of our Victorian forbears. These usually paid-for tours give an opportunity also to take in the uniquely elevated panoramic views of the City of Colchester and its rural surroundings. Our engagement programme has included school and college visits, and consultation events at no cost. The tours have proved very popular with a waiting list of individuals, companies and organisations. In feedback, 100% of tour visitors rated their experience as very good. The tours were suspended following the arrival of peregrine falcons in February, although the pair eventually chose a different nesting location. Several Residents' Panel meetings were convened by Colchester City Council specifically to seek input into shaping the final proposed scheme for Jumbo. The ideas offered up by local people have been invaluable in trying to gauge demand for future usage, combining the need for commercial viability, alongside the heritage preservation, interpretation and historical educational information. -2-
Company Registration No. 03020005 (England and Wales) COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Keeping the interested local community informed has been enhanced by a regularly emailed newsletter and our website (www.jumbo.org.uk) sharing learning and information on The Jumbo Project. The website also has online donation capability. The Trust has continued to work with partners including Colchester City Council, The Mercury Theatre, Colchester Arts, Firstsite, the National Trust, the Ipswich and Colchester Museum Service, as well as local communities and charities, some of which represent groups with limited exposure to heritage assets and education. We are very gratefu for their involvement. We also wish to thank National Lottery players in general and the "We are Colchester" Boars for their continued support. There remains the need for continued fundraising activity to complete the project to the point of opening in 2027. In this regard, we have developed an exciting activity plan which will continue to engage with the local and wider community. During 2025 we will, for the first time, be directly employing staff to work on the engagement plans alongside the Trustees. Our audio visual and interpretation package is a key part of the programmes we plan to offer. We are very grateful to the volunteers who have undertaken training and been enthusiastic guides participating in tours and sharing their knowledge with visitors. The National Trust has been a key supporter in this respect. Other Projects Involvement with other projects has been on an advisory basis only. The Trust continues to provide guidance to the Halstead 21st Century Group with their ambitions to conserve the group of 2nd World War air raid shelters in the heart of Halstead. A compromise has been reached with the owning developer of the land to build four houses while retaining all but four of the shelters, subject to planning approval. Enquiries have been received from other organisations interested in preserving local architecture, seeking advice and guidance based on the Trusts success milestones to date, and the design and funding experience of the Jumbo project. Such enquiries have included such diverse projects as Birch Church, the Earl's Colne Museum, and the Shire Hall in Chelmsford. Finance & Risks During the financial year we held limited reserves and are dependent on grant funding and general fundraising to enable our work to continue to progress. As described, we have received substantial grant funding towards The Jumbo Project enabling the commencement of its delivery. We expect to become fully operational and to generate income ourselves, to be utilised for the future management and maintenance of the water tower, ensuring its financial sustainability, and towards the promotion and facilitation of other local projects. We continue to monitor the building for any emergency works required. With roof and tank repairs undertaken in recent years the need for further emergency works has been minimised for the time being. However, the rate of deterioration is still concerning and can be volatile depending on the weather and temperature conditions. With the plans now developed and funded, all is set for us to move forward to progress the permanent restoration and conservation of this iconic water tower. The Trustees have assessed the major risks to which the Trust is exposed and are satisfied that systems are in place to mitigate exposure to those risks. The Trustees continue to build on the internal structures, skills and policies to support the needs of Jumbo's future activities and operation. -3-
Company Registration No. 03020005 (England and Wales) COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 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: Mr SAD Hall Mr A G Marsden (resigned 18'h September 2024) Mr Cl Betts MrRA Crayston Mr P Bowman Mr WE Hayton Mr SM East Ms L A D Kleineidam Mr G Armstrong Mr D Balcombe Mr NS Charrington Ms I M Day- nee Kettle (appointed 20th December 2024) (appointed 31st January 2025) The Trustees are selected for their mix of skills in conservation, charities, property, architecture, law, finance, local government and media. Their local knowledge and individual networks are also important considerations. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up. The Trustees report was approved by the Board of Trustees. A4 Mr S A Hall Chairman Dated: 282 Ochka 2025 - 4-
Company Registration No. 03020005 (England and Wales) COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST I report to the trustees on my examination of the financial statements of Colchester and North East Essex Building Preservation Trust (the Trust) for the year ended 31 March 2025 Responsibilities and basis of report is the trustees of the Trust (and also its directors for the purposes of company law) you are responsible for th reparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 200 Having satisfied myself that the financial statements of the Trust 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 the Trust's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect: accounting records were not kept in respect of the Trust as required by section 386 of the 2006 Act; or 2 3 the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act Oiner 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 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 charitie preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK anc 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. GMS Vincent Mellett FCCA Granite Morgan Smith Limited 122 Feering Hill Feering Colchester Essex COS 9PY xxxxxxxxxxx - 5-
Company Registration No. 03020005 (England and Wales) COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Income from: Donations and legacies Investments Ticket Sales Total income Expenditure on: Charitable activities Net gains/(losses) on investments Net movement in funds Fund balances at 1 April 2024 Fund balances at 31 March 2025 Notes 3 4 5 6 7 The statement of financial activities includes all gains and losses recognised in the year. 2025 € 71,609 761,502 264 5,628 839,003 510,504 137 328,362 58,138 386,500 2024 400 247,031 203 1200 1,033 248,667 321,143 108 (72,638) 130,506 58,138 All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. -6-
Company Registration No. 03020005 (England and Wales) COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST BALANCE SHEET AS AT 31 MARCH 2025 2025 Fixed assets Investments Land Current assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Income funds Unrestricted funds Notes 11 13 € 2024 5,467 119,181 5,604 109,297 14 77,243 297,829 375,072 (113,220) 44,406 61,709 106,116 (162,878) 261,852 386,500 (56,761) 58,138 386,500 386,500 58,138 58,138 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 March 2025. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements. The Trustees have responsibility for ensuring that the charity keeps accounting records which comply with section 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 in xxxxxxxx Mr S A Hall Trustee Company Registration No. 03020005 -7-
Company Registration No. 03020005 (England and Wales) COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1 Accounting policies Charity information olchester and North East Essex Building Preservation Trust is a private company limited by guarante noestered in Cland and Wales. The registered office is Walcotts Hall, Coggeshall Road, Great Tey 1.1 Accounting convention The financial statements have been prepared in accordance with the Trust's Memorandum and Articles of 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 Trust is a Public Benefit Entity as defined by FRS 102. The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest €. The accounts have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Incoming resources Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent - 8-
• Company Registration No. 03020005 (England and Wales) COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 1 Accounting policies 1.5 Resources expended Resources expended exclude attributable VAT, which can be recovered. 1.6 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. 1.7 Financial instruments Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost. Financial assets comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Investments are held at fair value at the balance sheet date, with gains and losses being recognised within income and expenditure. Financial liabilities held at amortised cost comprise all creditors. 2 Critical accounting estimates and judgements In the application of the Trust's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. Donations and legacies 2025 2024 Donations and gifts 71,609 400 - 9-
• Company Registration No. 03020005 (England and Wales) COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 4 Grants 5 Grants received Investments 6 Income from listed investments Ticket Sales 2025 € 761,502 2025 € 264 2025 € 5,628 2024 247,031 2024 E 203 2024 € 1,033 7 Ticket Sales Charitable activities Insurance Independent Examiners fee Legal & professional - other Director costs Jumbo Heritage Programme Rent Office expenses - other Maintenance & Repairs Subscriptions 2025 34,014 1,903 22,009 578 417,357 10,000 2,687 21,896 60 510,504 2024 32,301 2,424 100 9,828 251,605 10,000 14,885 321,143 8 9 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year. Employees There were no employees during the year. - 10-
Company Registration No. 03020005 (England and Wales) COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Net gains/(losses) on investments 2025 € 2024 Revaluation of investments Gain/(loss) on sale of investments 137 137 108 11 Fixed asset investments Cost or valuation At 31 March 2024 Valuation changes Disposals At 31 March 2025 Carrying amount At 31 March 2025 At 31 March 2024 Listed investments € 5,604 (137) 5,467 5,467 5,604 Fixed asset investments revalued Listed investments are included at the market value at the balance sheet date. 12 Financial instruments Carrying amount of financial assets Equity instruments measured at cost less impairment Carrying amount of financial liabilities Measured at amortised cost 2025 € 5,467 113,220 2024 € 5,604 162,878 - 11-
Company Registration No. 03020005 (England and Wales) COLCHESTER & NORTH EAST ESSEX BUILDING PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Debtors 2025 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 58,099 19,144 77,243 2024 (418) 44,824 44,406 14 15 16 Creditors: amounts falling due within one year Trade creditors Directors Loan Accruals and deferred income 2025 € 101,723 11,167 330 2024 € 142,548 20,000 330 Company limited by guarantee The charity is limited by guarantee. The members of the company are the trustees named on the list of members. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member. Related party transactions No guarantees have been given or received. - 12-