Registered number: 03176516
Charity number: 1054232
EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
CONTENTS
Page
Reference and Administrative Details of the Charlty, its Trustees and Advisers
Trustees, Report
Independent Examlner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
10-25

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
Ms L Arrell
Mr R P Chant
Dr J Clark
Mrs S A Ellison
Mr R J Parker
Ms J Sinclair
Mr N Scott
Dr C Maudling
Mr G Roberts {appointed 20 January 2025, resigned 2 May 2025)
Company registered
number
03176516
Charity reglstered
number
1054232
Reglstered offlce
21 The Mint
Exeler
Devon
EX4 3BL
Company secretary
Dr Clare Maudling
Accountants
Streets Bush Limited
2 Barnfield Crescent
Exeter
EX1 1QT
Bankers
Bank of Scotland
33 Old Broad Street
London
BX21LB
Page 1

EXETER HISTORIC BUILDINGS TRUST
{A Company Limited by Guarantee)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report together with the financial statements of the Charity for the 1 April
2024 to 31 March 2025. The Annual Report serves the purposes of both a Trustees, report and a directors,
report under company law. The Trustees confirm that the Annual Report and financial statements of the
charitable company comply with the current stalutory requirements, the requirements of the charitable
company's governing document and the provisions of the Statement of Recommended Practice (SORPI
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland {FRS1021 (effective 1 January 20191.
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required
of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report)
Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectlves
The object for which the Trust is established is to preseNe for the benefit of the people of Exeter and of the
nation at large whatever of the English historical architectural and constructional heritage may exist in and
around Exeter in the form of buildings {which expression shall for these purposes include any building as
defined by section 336{11 of the Town and Country Planning Act, 1990 and also any garden or plant or
machinery irrespective of whether it is assocaited with a building} of beauty or historical architectural or
constructional interest or ancient monuments.
The trustees have noted the Charity Commission guidance on public benefit. The ongoing maintenance work
completed on 21 The Mint continues to provide benefit to the public through the preservation and restoration of
these buildings and stimulating historical and architectural interest. Th8 regular heritage opening days continue
to educate the public in the local history of the area.
The trustees have paid due regard to guidance issued by the Charily Commission in deciding what activities the
charity should undertake.
In selting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a
charity IPB2}'.
Page 2

EXETER HISTORIC BUILDINGS TRUST
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance
a. Main achlevements of the Charity
The major events of the year 202412025 were..
The National Heritage Loltery Fund 3-year grant expired in June 2024 supporting events and engagements with
the local communities of Exeter. The Trustees believe that the targets and outcomes envisaged with this grant
have been achieved and thank the Fund for their support over the period. The Trusts activilies have since been
run on a volunteer only basis.
The Charity entered into a new grant agreement with Exeter City Council for a period of 3 years commencing 1
July 2024 to enable it to move towards a sustainable basis of funding. The grant will be used lo improve
revenue generating activities, for example making improvements to the properties to allow for increased rents to
normal market levels.
The Charity successfully refurbished unit 21A and let the propety at full market rate.
A small grant was received from Devon County Council to support an educationavarchaeological festival.
Donations continue to play a small but significant part of Ihe Trust's income while sales from the limited stock of
memorabilia continue lo grow.
Wandering Tiger had its, by now, customary Christmas run providing a healthy contribution to the Trust's
income. As trustees and volunteers became more used to running events in the West wing, so the number and
diversity of events grew, thus contributing to the sustainability of trust finances.
The Trust continues its preservation and repair work of the St Nicholas Priory with a grant receipt from Historic
England to support a major application for roof repairs over the coming years.
Financial review
. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue lo adopt
the going concern basis in preparing the financial slatements. Further details regarding the adoption of the
going concern basis can be found in the accounting policies.
b. Reserves pollcy
Total funds at the year-end amounted to £195,375 12024.. £189,016). This consisted of restricted funds of
£31,612 (2024. £7,328) and unrestricted funds of £163,763 {2024'. £181,688}.
The Trust seeks to maintain sufficient reserves to cover unexpected property maintenance expenditure along
with reseNes to cover losses which may arise due to rental void periods. The Trustees have determined that a
reserve of £21,000 15 appropriate plus approximately 6 months renlal income of £9,000, so the target reserve is
£30,000.
The Trust is in the process of reviewing its income generation activities to allow it to put appropriate measures
in place to meel its reserves policy in the coming year.
Page 3

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
c. Review of the year
It was a challenging year for the Trust as our income levels did not achieve our internal largets. however the
Charitable Company made a surplus in the year of £6,359 {2024.. £26,563 deficit).
Total income fell by 60/012024.. 130/0) compared to the previous year.
Total expenditure decreased by 25 % 12024.. 15 % I compared to the previous year.
Structure, governance and management
Constltutlon
Exeter Historic Buildings Trust is a charitable company limited by guarantee incorporated on 22 March 1996 and
a registered charity governed by its Memorandum and Articles ofAssocialion.
b. Methods of appointment or electlon of Trustees
The directors of the charitable company are its trustees for the purpose of charity law and throughout this report
are collectively referred to as the trustees. Under the Articles of Assocition at the Annual General Meeting one
third of the trustees shall retire from office and be eligible for re*lection. Trustees are appointed by the Board of
Trustees which number between 5 and 10 members.
c. Flnancial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the
operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate
exposure to the major risks. An assessmenl of fire risks has been made and a written statement prepared and
issues lo trustees and Open Day Stewards.
Page 4

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
TRUSTEES, REPORT {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 202S
Statement of Trustees, responsibilities
The Trustees (who are also the directors of the Charity for the purposes 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).
Company law requires the Trustees lo prepare financial statemenls for each financial . Under company law, the
Trustees must not approve the financial statements unless Ihey are satisfied that they give a true and fair view
of the state of affairs of the Charity and of ils incoming resources and application of resources, including its
income and expenditure, for that period. In preparing these financial statements, the Trustees are required lo.
select suitable accounling policies and then apply them consistently,
obseNe the methods and principles of the Charities SORP IFRS 1021.,
make judgments and accounting estimates that are reasonable and prudenl.,
state whether applicable UK Accounting Standards (FRS 1021 have been followed, subject to any
material departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficienl to show and explain
the Charity's transactions and disclose with reasonable accuracy at any lime the financial position of the Charity
and enable them to 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.
Approved
by
order
the
members
of
the
board
of
and signed on their behalf by..
Trustees
on
Dr J Clark
Trustee
Page 5

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Independent Examiner's Report to the Trustees of Exeter Historic Buildings Trust ('th8 Charlty,)
I report to the charity Trustees on my examination af the accounts of the Charity for the year ended 31 March
2025.
Responsibilltles and Basis of Report
As the Truslees of the Charity land its directors for the purposes of company law) you are responsible for the
preparation of Ihe accounts in accordance with the requirements of the Companies Act 2006 ('Ihe 2006 Act,).
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006
Act and are eligible for independenl examination, I report in respect of my examination of the Charity's accounts
carried out under section 145 of the Charities Acl 2011 I'the 2011 Act,). In carrying out my examination I have
followed the Directions given by the Charily Commission under section 145(51(bl 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 nol kept in respect of the Charity as required by section 386 of Ihe 2006 Act., or
the accounts do not accord with those records., or
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 lapplicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 10211.
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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Rèports} Regulations 2008. My work has been undertaken so that I might state lo the Charity's
Trustees those matters l am required to state lo them in an Independent Examiner's Report and for no other
purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed..
Dated. q I
S Truran
FCCA FCA
Streels Bush Limited
2 Barnfield Crescent
Exeter
EX1 1QT
Page 6

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2025
Restricted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Note
Income from:
Donalions and legacies
Charitable activities
72,862
23,593
34,386
96,455
34,386
98, 543
41,217
Total income
72,862
57,979
130,841
139. 760
Expendlture on:
Charitable activities
SO,007
74,475
124,482
166,323
Total expenditure
50,007
74,475
124,482
166, 323
Net incomel{expenditure)
Transfers between funds
22,855
1,429
(16,496)
{1,429)
6,359
(26,563)
16
Net movement in funds
24,284
(17,925)
6,359
(26,563)
Reconciliation of funds:
Total funds brought fO￿ard
Net movement in funds
7,328
24,284
181,688
{17,925)
189,016
6,359
215,579
(26,563)
Total funds carried forward
31,612
163,763
195,375
189.016
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 25 form part of these financial statements.
Page 7

EXETER HISTORIC BUILDINGS TRUST
IA Company Limited by Guarantee)
REGISTERED NUMBER: 03176516
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Note
Fixed assets
Tangible assets
Heritage assets
Investments
10
78.249
$46,041
92,058
564,242
12
624,291
656,301
Current ass8ts
Debtors
Cash at bank and in hand
13
30,788
44,463
20, 230
33, 029
75,251
53,259
Creditors.. amounls falling due within one
year
14
(22,7301
(22, 506)
Net current assets
52,521
30, 753
Total assets less current Ilabilities
676,812
687, 054
Creditors.. amounts falling due after more
than one year
15
1481,437)
(498, 038)
Total net assets
195,376
189,016
Charity funds
Restricted funds
Unrestricted funds
16
16
31,612
163,763
7,328
181,688
Total funds
195,375
189,016
Page 8

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
REGISTERED NUMBER: 03176516
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
The Charity was entitled to exemption from audit under section 477 ofthe Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements
were
approved and authorised for issue by the Trustees on
and signed on their behalf by.
DrJ Clark
Trustee
The notes on pages 10 to 25 form part of these financial statements.
Page 9

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
General information
Exeter Historic Buildings Trust {the charity} is a limited company by guarantee incorporated in England
and Wales and a registered charity. The charity's registered office is at 21 The Mint, Exeter, England,
EX4 3BL. The charity's principal activity is preservation of buildings of Historical & Architectural interest in
and around and for Ihe benefit of the City of Exeter.
Accounting policies
2.1 Basls of preparation of financial statements
The financial statements have been prepared in accordance with the Charitie5 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 1021 (effective 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Exeter Historic Buildings Trust meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cosl or transaction value unless otherwise stated in
the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement lo the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activilies on a receivable basis. The balance of
income received for specific purposes but not expended during the period is shown in the relevant
funds on the Balancè Sheet. Where income is received in advance of entitlement of receipt, its
recognition is deferred and included in creditors as deferred income. Where enlillemenl occurs
before income is received, the income is accrued.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic
benefit lo a third party, 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 classified by
activity. The costs of each activity are made up of the total of direct costs and shared costs,
including support costs involved in undertaking each activity. Direct costs attributable to a single
aclivily are allocated directly to thal activity. Shared costs which contribute to more than one activity
and support costs which are not attributable to a single activity are apportioned between those
activities on a basis consistent with the use of resources. Central staff Costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 10

EXETER HISTORIC BUILDINGS TRUST
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies (continued)
2.4 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to
the Statement of Financial Activities over the expected useful lives of the assets concerned. Other
grants are cr&dited to the Statement of Financial Aclivilies as the related expenditure is incurred.
2.5 Taxatlon
The Charily is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively to charitable purposes.
2.6 Tanglble flxed assets and depreclatlon
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model,
tangible fixed assets are measured at cost less accumulated depreciation and any accumulated
impairment losses. All costs incurred to bring a tangible fixed asset into its intended working
condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives.
Depreciation is provided on the following basis..
Plant and machinery
Fixtures and filtings
Computer equipment
150/0 reducing balance
150/0 reducing balance
250/0 Straight line
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount
and are recognised in the Statemenl of Financial Activities.
2.7 Heritage assets
Where heritage assets have been purchased, they are initially recognised at cost. After recognilion,
under the cost model, heritage assets are measured at cost less any accumulated depreciation and
any accumulated impaimient losses.
Depreciation is provided on th& following bases..
21 The Mint and St Nicholas,
Priory
2e/o Straight line
Page11

EXETER HISTORIC BUILDINGS TRUST
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies (continued)
2.8 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the
value cannot be measured reliably in which case il is measured at cost less impairment. Investment
gains and losses, whether realised or unrealised, are combined and presented as 'Gains/lLossesl
on investments, in the Statement of Financial Activities.
Investments in subsidiaries are valued at cost less provision for impairment.
2.9 Deferred grants
Grants relating to assets ar@ initially deferred, and subsquently recognised in income on a straight
line basis over the useful life of the asset to which it relates.
2.10 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.11 Cash at bank and In hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
2.12 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipate5 11 will pay to settle the debt or the
amount it has received as advanced payments for the goods or services il must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effecl of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.13 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised al transaction value and
subsequently measured at their settlement value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
2.14 Pensions
The Charity operates a def1ned contribution pension scheme and the pension charge represents the
amounts payable by the Charity to the fund in respect of the year.
Page 12

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 202S
Accounting policies (continued)
2.15 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have nat been designated for other
purposes.
Restricled funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Income from donations and legacies
Restrlcted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Tot81
fiinds
2024
Donations
Grants
Government grants
6,992
16,601
6,992
16,601
72,862
5, 838
16,601
76, 104
72,862
72,862
23,593
96,455
98,543
Total 2024
76, t04
22,439
98,543
Income from charitable actlvitles
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Rent receivable
Room hire l University hire
Property improvements recharged
Events and publications income
8.000
9.814
704
8,000
9,814
704
15,868
12,000
10,051
752
18,414
15,868
34,386
34,386
41.217
Page 13

EXETER HISTORIC BUILDINGS TRUST
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of expenditure on charitable activltles
Summary by fund type
Restrlcted Unrestrlcted
funds
funds
2025
2025
Total
2025
Total
2024
Preservation of historic buildings
50,007
74,475
124,482
166,323
Total 2024
86, 006
80,317
166,323
Analysis of expenditure by activities
Actlvlties
undertaken
dlrectly
2025
Total
funds
2025
Total
funds
2024
Preservation of historic buildings
124,482
124,482
766,323
Page 14

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of expenditure by activities (continued)
Analysis of direct costs
Charitable
Activities
2025
Total
funds
2025
Total
fiinds
2024
Staff costs
Cost of goods sold
Event costs
Insurance
Repairs and renewals
Garden maintenance
Heat and light
Water rates
Telephone and internel charges
Rateslcouncil tax
Professional fees
Publicity costs
Administrative costs
Subscriptions
Website expenditure
Architects and surveyors fees
Depreciation charges
Printing and stationery
Independent examination
3,995
272
3,995
272
4,428
3,576
40,480
753
8,439
795
15,627
1,063
5, 280
1,875
9,986
1,063
14,235
(706)
429
4,428
3,576
40,480
753
8,439
795
106
1,421
18.287
277
3,134
649
3,301
106
1,421
18,287
277
3,134
649
3,301
384
67,572
5, 068
1,913
978
3,037
1,917
34,944
290
1,380
32,011
38
32,011
38
2,520
2,520
124,482
124,482
166, 323
Independent examiner's remuneratlon
2025
2024
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts
2,520
1,380
Page 15

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Staff costs
2025
2024
Wages and salaries
Contribution to defined contribulion pension schemes
3,995
15,345
282
3,995
15,627
The average number of persons employed by the Charity during the year was as follows,.
2025
No.
2024
Administrative staff
No employee received remuneration amounling to more than £60,000 in either year.
Trustees. remuneration and expenses
During the year, no Trustees received any remuneralion or other benefits (2024 - £NIL).
During the year ended 31 March 2025, trustees made donations totalling £8012024.. £430) and expenses
tolalling £852 were reimbursed or paid directly to 3 Trustees (2024 - £32 to 7 Trusteej. These were
reimbursements for expenses paid on behalf of the charity.
Page 16

EXETER HISTORIC BUILDINGS TRUST
IA Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
10. Tanglble fixed assets
Plant and Fixtures and
machinery
fittings
Computer
equipment
Total
Cost or valuatlon
At 1 April 2024
25,515
157,973
3,968
187,458
At 31 March 2025
25,515
157,973
3,968
187,456
Depreciation
At 1 April 2024
Charge for the year
14,203
1,697
77,227
12,112
3,968
9S,398
13,809
At 31 March 2025
15,900
89,339
3,968
109,207
Net book value
At 31 March 2025
9,615
68,634
78,249
At 31 M8rch 2024
11,372
80, 746
92. 058
Page 17

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11.
Heritage assets
Assets recognlsed at cost
Heritage
asset
2025
Total
2025
Carrying value at 1 April 2024
DepreciationlAmortisation
564,242
{18,2011
564,242
118,2011
546,041
546,041
The charity holds the following long leasehold interests.. 21 The Mint - 125 years from 1998 at a notional
rent,. St Nicholas, Priory - 99 years from 2018 at a notional rent.
As the buildings are historic assets, information relating to their original cost is not avalilable and it is very
dificult to put valuations on them. The original lease has Iherefore been excluded from the balance sheel.
21 The Mint was restored over a seven year period. Over this period, the costs of the restoration
amounted to £910,065 of which £830,058 has been paid for from grants. The costs have been capitalised
as an improvement to a heritage asset, and the improvements are being depreciated over a 50 year
period. The grants relating to this work were initially deferred and are being recognised over the same 50
year period.
12. Flxed asset investments
Investments
in
subsldiary
companies
Cost or valuation
At 1 April 2024
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
Page 18

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12. Fixed asset investments {continuedl
The Trust has beneficial ownership of Ihe ordinary share capital of EHBPT Enterprises Limited. The
ordinary share was purchased for £1.
Principal subsidiaries
The following was a subsidiary undertaking of the Charity-
Name
Company
number
Registered office or principal Principal activity
place of business
EHBPT Enterprises Limited
04453305
21 The Mint. Exeter, Devon, EX4 Other letting and
3BL
operating of own or
leased real estate
Class of Holding
shares
Included in
consolldatlon
Ordinary
The financial results of the subsidiary for the year were..
Name
Income
Expenditure
ProfiV{Loss}
I Surplusl
(Deficit) for
the year
EHBPT Enterprises Limited
14,900
14,779
121
13. Debtors
2025
2024
Due wlthin one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments
4,472
7,277
12,500
6,539
1,828
1,450
11,524
5, 428
30,788
20, 230
Page 19

EXETER HISTORIC BUILDINGS TRUST
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
14. CredltorJ: Amounts falling due within one year
2025
2024
Trade creditors
Other taxation and social security
Accruals and deferred income
2,914
880
502
19,816
21, 124
22,730
22, 506
2025
2024
Deferred income at 1 April 2024
Resources deferred during the year
Amounts released from previous periods
16,601
16,601
{16,601)
17,464
16,601
(17.464)
16,601
16,601
The balance relates to deferred grants totaS1ing £16,601. This relates to the grant income of £830,058 for
21 The Mint in which the release of the deferred income is in line with the UEL of the improvements,
which is 50 years.
15. Creditors: Amounts falllng due after more than one year
2025
2024
Deferred income
481,437
498, 038
The balance relates lo deferred grants lotalling £481,437. This relates lo the grant income of £830,058
for 21 The Mint in which the release of the deferred income is in line with the UEL of the improvements,
which is 50 years.
Page 20

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
16.
Statement of funds
Statement of funds - current year
Balance at
31 March
2025
Balance at 1
April 2024
Transfers
inlout
Income Expenditure
Unrestricted funds
General Funds
181,688
57,979
174,475)
11,429)
163,763
Restricted funds
Nicholas Priory
Physic Garden
NHLF
NHLF Exeter Partnership
ECC Grant
Devon CC Grant
HE Grant
3,727
738
3,727
738
41,534
142,963)
(1,0701
{6,5741
(4001
1,429
2,863
1,793
19,426
600
5,328
25,000
1,000
5,328
7,328
72,862
150,007)
1,429
31,612
Total of funds
189,016
130,841
1124,482)
195,375
Nicholas Priory - This fund is for updates lo the Priory and the balance mainly relates to CCTV
monitoring. We are in discussions wilh the Council to take this forward.
Physic Garden - Small grant for creating a meditation garden in the main garden to the rear of the Priory.
NHLF- Grants from National Heritage Lottery Fund for use to support the Priory.
NHLF Exeter Partnership This is joint funding from the council to use within and around the Exeter
Community.
ECC grant - Funding which is being used to 5UPPOrt the trust in becoming financially sustainable.
HE grant - Funding to cover the inititsl cost of the West Wing roof repairs alongside grant submission
paper funding to external consultant5.
Devon CC grant- Funding used to cover some of the summer events that were held by the Charity.
Page 21

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
16. Statement of funds Icontlnued)
Statement of funds - prior year
Balance al
31 March
2024
Balance at
7 April 2023
Transfers
in/oLIt
Income Expenditure
Unr8Stricted funds
General Funds
201,403
63, 656
(80,317)
(3,054)
181,688
Restricted funds
Nicholas Priory
Physic Garden
NHLF ERSX
NHLF
NHLF Exeter Partnership
3, 727
738
3,727
738
(114)
(79,044)
(6, 848)
114
2,940
76, t04
9,711
2, 863
14,176
76, 104
(86,006)
3,054
7,328
Total of funds
215,579
139, 760
(766,323)
189,016
17. Summary of funds
Summary of funds - current year
Balance at
31 March
2025
Balance at I
April 2024
Transfers
inlout
Income Expenditure
General funds
Restricted funds
181,688
7,328
57,979
72,862
{74,4751
{50,007>
{1,429
1,429
163,763
31,612
189,016
130,841
{124,482}
195.375
Page 22

EXETER HISTORIC BUILDINGS TRUST
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
17. Summary of funds (continued)
Summary of funds - prior year
Balance at
31 March
2024
Balance at
1 April 2023
Transfers
in/our
Income Expenditure
General funds
Restricted funds
201,403
14,176
63, 656
76, 104
(80,317)
(86,006)
(3, 054)
3,054
181,688
7, 328
215,579
139. 760
(166, 323)
189,016
18. Analysis of net assets between funds
Analysis of net assets between funds - current year
Restrlcted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Tangible fixed assets
Fixed asset investments
Herilage assets
Current assets
Creditors due within one year
Creditors due in more than one year
78,249
78,249
546,041
43,639
{22,730)
(481,437)
546,041
75,251
{22,730)
(481,437)
31,612
Total
31,612
163,763
195,375
Page 23

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
18. Analysls of net assets between funds (continued)
Analysis of net assets between funds - prior year
Restricted Unrestricted
fiinds
fiii?ds
2024
2024
Total
fiinds
2024
Tangible fixed assets
Fixed asset investments
Heritage assets
Current assets
Creditors due within one year
Creditors due in more than one year
92, 058
92,058
564. 242
45,931
(22, 506)
(498, 038)
564,242
53, 259
(22, 506)
{498,038)
7,328
Total
7, 328
181,688
189,016
19. Pen31on commltments
Exeter Historic Buildings Trust operates a defined benefit contribution scheme. The assets of the scheme
are held separately from those of the trust in an independently administered fund. The pension cost
charge represents contributions payable by the Charity to the fund and amounted to £Nil. (2024. £282}
Contributions totalling £Nil were payable to the fund at the balance sheet date.
20. Legal Charge
There is a legal charge of £67,572 held by Architectural Heritage Fund on 21 The Mint.
21. Members, liability
The charity is a company limited by guarantee and has no share capital. The liability of each member in
the event of winding up is limited to £5.
Page 24

EXETER HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
22.
Related party transactions
EHBPT Enterprises Limited was created as a subsidiary company to take a long lease on the 2 dwellings
created in 21 The Mint. This receives rent from a third party and it pays rent lo the Trust. During the year,
the Trust received rent of £8,000 (2024. £12,000) from the subsidiary company.
Any profits retained by EHBPT Enterprises Limited are paid to the Trust. £120 surplus was retained by
EHBPT. The trustees agreed that this will be kept by the company for future expenditure as reserves are
negative. £7,277 was owed to the company by the Trust al 31 March 202512024.. £1,450).
Sandra Ellison and both Paul and Katherine Chant served as directors of EHBPT Enlerprises Limited
during the year.
Page 25