**Registered number: 03333780 Charity numbers: 1061593 (England & Wales) & SC041945 (Scotland)**
# **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION**
## **(A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the charity, its Trustees and advisers**|1 - 2|
|**Trustees' report**|3 - 8|
|**Independent examiner's report**|9 - 10|
|**Statement of financial activities**|11|
|**Balance sheet**|12 - 13|
|**Notes to the financial statements**|14 - 27|
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|**Trustees**|Desmond Cairns|
|---|---|
||Serena Cardozo (appointed 3 September 2024)|
||David Chetwyn (resigned 30 April 2024)|
||Crispin Edwards (resigned 30 April 2024)|
||Joanna Evans|
||Anna Grant|
||Jillian Kerry|
||Sarah Khan (appointed 13 December 2023)|
||Lone Beatrix Le Vay|
||David McDonald|
||Kathryn Moore (appointed 30 April 2024)|
||Katie Parsons (appointed 30 April 2024)|
||Joanna Saady|
||Andrew Shepherd|
||Sheila Stones|
||Shantanu Subramaniam (appointed 13 December 2023)|
||Peter Wood (resigned 13 February 2024)|
|**Company registered**
**number**
03333780
**Charity registered**
**numbers**
1061593 (England & Wales) and SC041945 (Scotland)
**Registered office**
Jubilee House
High Street
Tisbury
Wiltshire
SP3 6HA
**Company secretary**
Lydia Porter
**Chief executive officer**
Sean O'Reilly||
Page 1
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024**
**Accountants** Larking Gowen LLP Chartered Accountants 1st Floor, Prospect House Rouen Road Norwich NR1 1RE **Bankers** Natwest Bank Plc 21 Gentleman's Walk Norwich NR2 1NA **Solicitors** Knights 1759 The Brampton Newcastle-under-Lyme Staffordshire ST5 0QW **President** Mike Brown
Page 2
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024**
The Trustees present their annual report together with the financial statements of the charity for the year 1 October 2023 to 30 September 2024.
## **Objectives and activities**
## **a. Policies and objectives**
The IHBC is a company and a charity registered in England and Wales and in Scotland, and is listed in Northern Ireland, and exists to promote, for the benefit of the public, the conservation of, and education and training in the conservation and preservation of buildings, structures, areas, gardens and landscapes which are of architectural or historical value. The IHBC’s key activities are:
- setting standards for conservation practice and improving education and training in conservation
- raising the profile of conservation and promoting its role in economic and social regeneration
- supporting excellence in all aspects of conservation, whether in the identification, analysis, repair and reuse of historic buildings or in new design in historic settings
- stimulating debate on how the role of conservation should develop
- organising training events and further developing the branch network to encourage the continued exchange of information between practitioners locally as well as nationally.
In setting 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 (PB2)'.
## **Achievements and performance**
## **a. Main achievements of the charity**
In the year to September 2024 the IHBC has continued its high level of activity, impact and influence across the wide range of interests that shape our built and historic environment, its care and its conservation. The impacts of the pandemic have continued to reduce, but have now been replaced by new concerns over the changed business environment and wider economic pressures and downturns including, not least, inflation. However the charity has moved forward successfully, taking advantage of the many lessons learned from the pandemic, including recognising new threats, but also continuing to look to the benefits of more nimble approaches to delivering our charitable objects.
As such we have been able to make substantial progress in adapting to the current environment, with strategic investment in key areas, notably training, application and accreditation support, as well as Branch and member services developments, as discussed below. At the same time we have successfully concluded both short-term priorities such as our 2024 Annual School in Reading – distinguished by the successful bedding in of lessons from previous Schools and culminating in Board support in September for our new business and management model for Schools, one better suited to offering accessible engagement and flexible learning.
At the same time we have been advancing more long-term corporate plan objectives, notably taking our next and positive steps in the exploration a petition to become a chartered professional body, spurred on by the overwhelming support for the initiative registered by members at our 2024 AGM.
## **EXPLORING A PETITION FOR CHARTER**
The question of seeking a Royal Charter through a Petition – from the processes it might entail to the prospective impacts on our members – has continued to occupy a small team of volunteers, senior staff and a consultant across much of the year. Following lessons from a wide-ranging survey in 2023, and ongoing and
Page 3
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **Achievements and performance (continued)**
far-reaching consultations, substantial positive interest was registered informally across the membership and our wider networks, alongside priority issues and questions that needed to be addressed.
The IHBC has been clear it would – and could – only petition for Chartered status if there was overwhelming support by members. A summary of the issues around submitting to the Privy Council Office a ‘Memorandum’ on the IHBC’s case for being chartered was presented for review both to the Board and to our advisory Council. This was received positively and finalised for review at our 2024 AGM. There members confirmed the requisite enthusiasm and support, agreeing overwhelmingly to the formal resolution in favour of developing and submitting that Memorandum.
## **ANNUAL SCHOOLS**
The Reading School in June looked at the critical issue of ‘Place & Building Care – Finance, policy & people in conservation practice’, with a welcome address by Gerard Lemos CMG CBE, Chair of the English Heritage Board of Trustees alongside a remarkable and successful line-up of expert speakers and authorities, both presenting and partnering in the programme, as well as helping on visits and tours. School learning arrangements continue to develop, while at Reading staff and consultants advanced the structurally ‘blended’ or ‘hybrid’ approach to learning adopted for Aberdeen in 2022. Reading School reinforced the potential of new formats and approaches to advance the IHBC’s charitable objectives, notably by offering wider options for participation and learning, while also remaining financially viable. Though the model still needs refinement, much is being consolidated around our June 2025 School in Shrewsbury, in line with the plans supported by the Board.
## **BRANCHES AND MEMBERS**
Locally-led Branch events play a critical role in supporting our charitable work. As ever IHBC’s Branch volunteers have continued to offer our distinctive style of locally accessible, cost-effective professional learning for members across much of the UK. However, like all volunteer networks today, capacity is the crux!
Since the pandemic we have been refining our arrangements and expanding capacity to support our Branch networks, capacity and services, including through developing arrangements for hybrid events to extend our reach, and across live, recorded, in-person and digital engagement processes.
Mindful of the volunteering legacy and our ongoing focus on supporting learning opportunities for members and networks, the IHBC has been working on new infrastructure for Branch capacity-building inspired by the benefits offered by an initial centralised service of a Branch Liaison and Support Officer, ably led by Jude Wheeler for much of the year. By the end of the financial year this was being recast to offer Branches their own part-time ‘Branch Consultants’ to help expand capacity and build better interfaces with the National Office and allied networks. We will report on progress there in our next Report.
Allied to that enhanced local infrastructure, we have been advancing the early pilot support for Branches to offer ‘hard-to-access’ learning for conservation professionals by offering the now-rebranded service of ‘CPD Branch Partnerships’, our increasingly successful programme of locally accessible, IHBC quality-assured CPDpriority training days delivered in partnership with the National IHBC by our Branches, with new programmes and enhanced funding to support their training services.
## **APPLICATIONS AND ACCREDITATION SUPPORT**
In the previous year we initiated a programme of assistance for our Supporter member category to gain initial IHBC recognition of competence, with a particular view to deepening Supporters’ engagement with the IHBC as Affiliate members. This has been successfully evolving, encouraging emerging conservation professionals to see the institute as the primary professional body for their future careers. As the year progressed, the lessons
Page 4
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **Achievements and performance (continued)**
on how to make application procedures more welcoming were refined, and also used to help an initial reshaping of our procedures for applications for accreditation. Following initial positive feedback there, we now look forward to rejuvenated MATE (Membership Accreditation Training Event) programme, offering an even more accessible foundation for IHBC accreditation.
## **ALL PARTY PARLIAMENTARY GROUP SECRETARIAT**
In previous years we have built on the outcomes of earlier work in developing the UK-wide and Westminsterbased All Party Parliamentary Group (APPG) on ‘Conservation, Places and People’, all centred on its first inquiry. However by the end of 2023 it had become increasingly clear that new regulations in Parliament on APPGs rendered our strategy there unfeasible. In response, the IHBC undertook informal consultations on options and alternatives. We are currently developing an alternative approach that builds on our parliamentary experience and networks won through the APPG initiative. This entails developing a regime for parliamentary engagement on heritage matters across all of the UK’s governments, including direct funding for partner-led initiatives as well through UK-wide advocacy events in Westminster. That programme will advance in 2025.
## **CELEBRATIONS AND AWARDS**
Our Charter endeavours have highlighted how the diverse range of our IHBC-led and linked awards represent an increasingly important thread in the strategic promotion of the IHBC’s unique brand of interdisciplinary conservation practice as practiced by our members as ‘Conservation Professionals’. In recent years this has been helped by the continuing integration of awards funding and cross-branding under our CREATIVE Conservation Fund. The IHBC’s longstanding signature award is the Annual Gus Astley Student Award, and for 2024 we were delighted to welcome our own John Fidler as our Guest Judge. Our suite of annual student awards and commendations etc. have in past years been supplemented by an invaluable partnership with the Marsh Trust, helping us celebrate retired members’ community contributions, as well as new learners in heritage-related skills. Since 2021 too, our partnership with the Society of Architectural Historians of Great Britain (SAHGB) has promoted quality research in conservation practice, with Matthew Saunders IHBC helping us promote our values across even wider networks and partnerships.
## **GOVERNANCE: BOARD AND COUNCIL**
Refining the infrastructure of our governance continues as one of the major ambitions across our corporate planning. Our proactive promotion of a 2023 Board statement on ‘Equity, Diversity and Inclusion’, helped us secure a more representative profile across our Board, reflecting better the high standards called for by regulators across the UK. At the same time our constitutional Council – which lies at the heart of how we will evolve – continues to lay foundations for it’s very special role in cultivating future trustees and volunteer leads.
## **SUMMARY AND THANKS**
Regular activities and member support are already well recorded and reported including through our IHBC NewsBlogs and web services; digital newsletters, our journal Context, and Yearbook, as well as our ‘Conservation Wiki’ service and, as ever, our online Events listing and supporting CPD Circular.
As a small charity the IHBC depends on the support, goodwill and dedication of its active volunteers, both in local Branches and across all our tiers of governance. Whether offered through our Branches, Working Groups, National Office or Committees, at the Board, Council or across networks, the added capacity offered by volunteers at all levels of engagement lets the IHBC continue as a cost effective voice for our charitable objects and professional standards, offering essential benefits to the sector while also remaining accessible and affordable to our most financially challenged members.
Page 5
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **Achievements and performance (continued)**
In light of all that, the IHBC’s board of trustees is delighted to offer its special and sincere gratitude to the many volunteers, supporters, consultants and staff who have all contributed to the vast work programme over the year.
## **Financial review**
## **a. Financial review**
Total income in the year was £447,433 (2023: £428,125). Overall, the charity's income exceeded its expenditure by £62,485 (2023: £53,153).
Total reserves at the year end were £461,854 (2023: £399,369) of which £4,237 were restricted (2023: £5,887) and £457,617 unrestricted (2023: £393,482).
At the period end the charity had free reserves of £424,870 (2023: £356,994). Free reserves constitute unrestricted funds not represented by fixed assets. The charity’s reserves are sufficient to maintain levels well within our reserves policy of six months of expenditure after taking into account subscriptions received in advance and funds held within the subsidiary.
Recognising the increased reserves and the uncertainties in the wider economy, the trustees continue to direct reserves to aid investment in growth, services and member benefits, concentrating on consolidating recent initiatives, still with a view to underpinning and securing growth in the IHBC.
## **b. Principal risks and uncertainties**
The most recent strategic risk assessment was carried out towards the end of the pandemic, and did not identify any further material changes in the range of challenges faced by the charity.
Since then, and alongside ongoing monitoring, we have initiated plans for an holistic review of risk. This has started with an updated assessment of reserves and fund stewardship, now in place, to help maximise returns and minimise the impacts of inflation, all tied to the management and distribution of funds available following the pandemic. The next stages of the wider review await initial formal feedback on our explorations around chartering, which is expected in 2025.
Page 6
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **c. Plans for the future**
Plans for the IHBC to the end of the 2025 financial year are encapsulated in our Corporate Plan 2020-25, ‘CP25’, approved at the IHBC’s 2020 Annual General Meeting. For the year to come plans will focus on the next stages of its delivery.
Such plans include:
- Advancing the modernisation of our governance (including finalising Bylaws and the ongoing exploration of a petition for a charter);
- Extending member support, represented already by the work of our Training and Branch Officers Extending centrally-funded training programmes supporting Branches-led CPD while cultivating dedicated IHBC training programmes, including those linked to wider partnerships;
- Advocacy, notably the evolution of operations linked to our Parliamentary engagement across UK and devolved governments; and
- Activities to expand our services and member benefits, including developing the infrastructure and profile of our trade operations with IHBC Enterprises.
All these and more are encompassed in the commitments made in existing Trustees’ Reports and Corporate Plans, while also reflecting the current challenges in the wider business environment.
## **Structure, governance and management**
## **a. Constitution**
The Institute of Historic Building Conservation, first constituted under Articles of Association as a registered charity on 14 March 1997, adopted new Articles of Association at its AGM on 3 December 2020. These were updated at a General meeting on 26 March 2021.
## **b. Methods of appointment or election of Trustees**
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
## **c. Organisational structure and decision-making policies**
The IHBC is governed by an elected board of trustees and directors with up to 12 voting members consisting of up to four elected officers (chair, vice-chair, IHBC secretary and treasurer) and up to 8 trustees including 3 nominated by national branches: Northern Ireland, Scotland and Wales.
The board is advised by a constitutional Council, which comprises the IHBC’s broadest membership, and elects its own chair, the IHBC’s president. Council includes representation from across all Branches, the Board and the four national committees - Finance & Resources, Membership & Ethics, Education Training & Standards, Policy, and Communications & Outreach – as well as other advisory and constitutional Special Interest Groups operating variously as Working Groups, panels etc.
Council and committees are supported by a small national office executive team to manage operations, alongside other operational support.
Page 7
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **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 to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) 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 sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time 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.
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 statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
## **David McDonald**
(Chair of Trustees)
**Lone Beatrix Le Vay** (Vice Chair)
21 May 2025
Page 8
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **Independent examiner's report to the Trustees of The Institute of Historic Building Conservation ('the charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 30 September 2024.
## **Responsibilities and basis of report**
As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 ('the 2005 Act'), the Charities Accounts (Scotland) Regulations 2006 (as amended) ('the 2006 Accounts Regulations') and the Companies Act 2006 ('the 2006 Act'). You are satisfied that the accounts of the charity are not required by charity or company law to be audited and have chosen instead to have an independent examination.
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 independent examination, I report in respect of my examination of the charity's accounts carried out under section 44(1)(c) of the 2005 Act and section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the requirements of Regulation 11 of the 2006 Accounts Regulations and the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity is required by company law to prepare its accounts on an accruals basis and is registered as a charity in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the 2006 Accounts Regulations. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act and Regulation 4 of the 2006 Accounts Regulations; or
2. the accounts do not accord with those records and with the accounting requirements of Regulation 8 of the 2006 Accounts Regulations; or
3. 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
4. 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.
Page 9
**THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024**
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to 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:
Christopher Yeates FCA DChA
## **Larking Gowen LLP**
Chartered Accountants
Norwich
2 June 2025
Page 10
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
**Total income**
**Expenditure on:**
Raising funds
7
Charitable activities
8
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**-**
**357,834**
**4,613**
**84,566**
**447,013**
**438**
**382,440**
**382,878**
**64,135**
**393,482**
**64,135**
**457,617**|**Restricted**
**funds**
**2024**
**£**
**420**
**-**
**-**
**-**
**420**
**-**
**2,070**
**2,070**
**(1,650)**
**5,887**
**(1,650)**
**4,237**|**Total**
**funds**
**2024**
**£**
**420**
**357,834**
**4,613**
**84,566**
**447,433**
**438**
**384,510**
**384,948**
**62,485**
**399,369**
**62,485**
**461,854**|_Total_
_funds_
_2023_
_£_
_1,036_
_341,868_
_5,821_
_79,400_|
|---|---|---|---|---|
|||||_428,125_|
|||||_4,218_
_370,754_|
|||||_374,972_|
|||||_53,153_|
|||||_346,216_
_53,153_|
|||||_399,369_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 14 to 27 form part of these financial statements.
Page 11
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee) REGISTERED NUMBER: 03333780**
## **BALANCE SHEET AS AT 30 SEPTEMBER 2024**
|**Note**
**Fixed assets**
Tangible assets
12
Investments
13
**Current assets**
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
17
Unrestricted funds
17
**Total funds**|**24,166**
**633,098**
**657,264**
**(208,157)**|**2024**
**£**
**2,747**
**10,000**
**12,747**
**449,107**
**461,854**
**461,854**
**4,237**
**457,617**
**461,854**|_11,092_
_555,346_
_566,438_
_(181,510)_|_2023_
_£_
_4,441_
_10,000_|
|---|---|---|---|---|
|||||_14,441_
_384,928_|
|||||_399,369_|
||||||
|||||_399,369_|
|||||_5,887_
_393,482_|
||||||
|||||_399,369_|
Page 12
# **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION**
# **(A company limited by guarantee) REGISTERED NUMBER: 03333780**
# **BALANCE SHEET (CONTINUED) AS AT 30 SEPTEMBER 2024**
The charity was entitled to exemption from audit under section 477 of the 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 and signed on their behalf by:
**David McDonald Lone Beatrix Le Vay** (Chair of Trustees) (Vice Chair)
21 May 2025
The notes on pages 14 to 27 form part of these financial statements.
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## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **1. General information**
The company is a private company limited by guarantee and incorporated in England and Wales, registration number 03333780. The registered office is Jubilee House, High Street, Tisbury, Wiltshire SP3 6HA. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The Institute of Historic Building Conservation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
The trustees have considered the charity’s position at the time of signing the financial statement and financial forecasts.
Based on this, the trustees have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future, and at least twelve months from the date of signing these financial statements. They therefore continue to adopt the going concern basis of accounting in preparing these financial statements.
## **2.3 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income from subscriptions is recognised over the period to which it relates.
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**THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **2. Accounting policies (continued)**
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to 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 activity are allocated directly to that 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 raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
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.
## **2.5 Branch accounting**
All income, expenditure, assets and liabilities relating to branches are incorporated into these financial statements.
## **2.6 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.7 Tangible fixed assets and depreciation**
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, using the straight-line method.
Depreciation is provided on the following basis:
Office equipment - 25%
## **2.8 Investments**
Investments in subsidiaries are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at cost less impairment.
Page 15
**THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **2. Accounting policies (continued)**
## **2.9 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.
## **2.10 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.
## **2.11 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 anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect 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.
## **2.12 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 at 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.
## **2.13 Pensions**
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
Page 16
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **2. Accounting policies (continued)**
## **2.14 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 not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted 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.
Investment income, gains and losses are allocated to the appropriate fund.
## **3. Income from donations and legacies**
|Donations
_Total 2023_|**Restricted**
**funds**
**2024**
**£**
420
_1,036_|**Total**
**funds**
**2024**
**£**
**420**
_1,036_|_Total_
_funds_
_2023_
_£_
_1,036_|
|---|---|---|---|
|||||
Page 17
**(A company limited by guarantee)**
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **4. Income from charitable activities**
|**Unrestricted**
**funds**
**2024**
**£**
Training and educational activities
30,959
Newsletter and other publications
1,945
Research project management
9,584
Other income
50
Subscriptions
315,296
357,834
_Total 2023_
_341,868_|**Total**
**funds**
**2024**
**£**
**30,959**
**1,945**
**9,584**
**50**
**315,296**
**357,834**
_341,868_|_Total_
_funds_
_2023_
_£_
_26,330_
_1,890_
_9,234_
_575_
_303,839_|
|---|---|---|
|||_341,868_|
||||
## **5. Income from other trading activities**
|**Unrestricted**
**funds**
**2024**
**£**
Context advertising
4,613
_Total 2023_
_5,821_|**Total**
**funds**
**2024**
**£**
**4,613**
_5,821_|_Total_
_funds_
_2023_
_£_
_5,821_|
|---|---|---|
||||
Page 18
**(A company limited by guarantee)**
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **6. Investment income**
|**Unrestricted**
**funds**
**2024**
**£**
Payments under Gift Aid from subsidiary company
70,845
Bank interest
13,721
84,566
_Total 2023_
_79,400_|**Total**
**funds**
**2024**
**£**
**70,845**
**13,721**
**84,566**
_79,400_|_Total_
_funds_
_2023_
_£_
_75,339_
_4,061_|
|---|---|---|
|||_79,400_|
||||
## **7. Expenditure on raising funds**
## **Costs of raising voluntary income**
|**Unrestricted**
**funds**
**2024**
**£**
Publicity
438
_Total 2023_
_4,218_|**Total**
**funds**
**2024**
**£**
**438**
_4,218_|_Total_
_funds_
_2023_
_£_
_4,218_|
|---|---|---|
||||
Page 19
**(A company limited by guarantee)**
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **8. Analysis of expenditure by activities**
|Support costs
Newsletters and other publications
Research project management
Creative fund awards and prizes
Schools, conferences and events
Website costs
Subscriptions and professional bodies
_Total 2023_
**Analysis of support costs**|**Activities**
**undertaken**
**directly**
**2024**
**£**
-
57,273
11,394
2,070
47,873
26,252
2,294
147,156
_103,280_|**Support**
**costs**
**2024**
**£**
237,354
-
-
-
-
-
-
237,354
_267,474_|**Total**
**funds**
**2024**
**£**
**237,354**
**57,273**
**11,394**
**2,070**
**47,873**
**26,252**
**2,294**
**384,510**
_370,754_|_Total_
_funds_
_2023_
_£_
_267,474_
_41,383_
_10,205_
_3,908_
_21,637_
_24,687_
_1,460_|
|---|---|---|---|---|
|||||_370,754_|
||||||
|Staff costs
Depreciation
Subcontractors
Office expenses
Travel expenses
Committee expenses
Branch expenses and support
Fees for professional services
Accountancy
Other costs|**Total**
**funds**
**2024**
**£**
**123,272**
**1,694**
**47,197**
**18,182**
**1,812**
**8,929**
**8,676**
**4,440**
**4,980**
**18,172**
**237,354**|_Total_
_funds_
_2023_
_£_
_127,836_
_2,357_
_48,370_
_15,241_
_1,856_
_6,045_
_33,965_
_6,571_
_5,270_
_19,963_|
|---|---|---|
|||_267,474_|
Page 20
**THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **9. Independent examiner's remuneration**
The independent examiner's remuneration amounts to an independent examiner fee of £4,350 ( _2023_ - _£4,210_ ).
## **10. Staff costs**
A part time member of staff is provided by Cathedral Communications Ltd in conjunction with managing the publishing and distribution of the charity's regular publication "Context", together with the associated advertising revenue. The cost of provision of the member of staff was £28,458 for the year ended 30 September 2024 (2023: £28,458). This cost is included within the aggregate payroll costs below:
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2024**
**£**
**112,250**
**4,739**
**6,283**
**123,272**|_2023_
_£_
_115,199_
_6,781_
_5,856_|
|---|---|---|
||||
|||_127,836_|
The average number of persons employed by the charity during the year was as follows:
||**2024**|_2023_|
|---|---|---|
||**No.**|_No._|
|Employees|**2**|_2_|
No employee received remuneration amounting to more than £60,000 in either year.
Total employee benefits of key management personnel were £67,447 (2023: £67,888).
## **11. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ .
During the year ended 30 September 2024, expenses totalling _£_ 1,089 were reimbursed or paid directly to 3 Trustees _(2023 - £1,337 to 3 Trustees)_ . The expenses reimbursed or paid directly to Trustees were for travel costs.
Page 21
**THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|**12.**
**Tangible fixed assets**
**Cost or valuation**
At 1 October 2023
At 30 September 2024
**Depreciation**
At 1 October 2023
Charge for the year
At 30 September 2024
**Net book value**
At 30 September 2024
_At 30 September 2023_
**13.**
**Fixed asset investments**
**Cost or valuation**
At 1 October 2023
At 30 September 2024|**Office**
**equipment**
**£**
**10,532**|
|---|---|
||**10,532**|
||**6,091**
**1,694**|
||**7,785**|
||**2,747**|
||_4,441_|
||**Investments**
**in**
**subsidiary**
**companies**
**£**
**10,000**|
||**10,000**|
Page 22
**(A company limited by guarantee)**
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **13. Fixed asset investments (continued)**
## **Principal subsidiaries**
The following was a subsidiary undertaking of the charity:
|**Name**|**Company**|**Registered office or principal**|**Class of**|**Holding**|
|---|---|---|---|---|
||**number**|**place of business**|**shares**||
|IHBC Enterprises Limited|06473470|Jubilee House|Ordinary|100%|
|||High Street|||
|||Tisbury|||
|||Wiltshire|||
|||SP3 6HA|||
The financial results of the subsidiary for the year were:
|**Name**
**Income**
**£**
**Expenditure**
**£**
**Profit**
**for the year**
**£**
IHBC Enterprises Limited
**140,797**
**99,357**
**41,440**
**Debtors**
**2024**
**£**
**Due within one year**
Trade debtors
**3,715**
Amounts owed by group undertakings
**10,090**
Other debtors
**10,251**
Prepayments and accrued income
**110**
**24,166**|**Net assets**
**£**
**51,997**
_2023_
_£_
_10,473_
_506_
_-_
_113_|
|---|---|
|||
||_11,092_|
## **14. Debtors**
Page 23
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **15. Cash at bank**
|**Unrestricted**
**funds**
**2024**
**£**
Bank deposit accounts
562,518
Bank current account
9,542
Branch accounts
56,801
628,861
_Total 2023_
_549,572_|**Restricted**
**funds**
**2024**
**£**
-
4,237
-
4,237
_5,774_|**Total**
**funds**
**2024**
**£**
**562,518**
**13,779**
**56,801**
**633,098**
_555,346_|_Total_
_funds_
_2023_
_£_
_482,325_
_4,137_
_68,884_|
|---|---|---|---|
||||_555,346_|
|||||
## **16. Creditors: Amounts falling due within one year**
|Trade creditors
Accruals and deferred income|**2024**
**£**
**39,509**
**168,648**
**208,157**|_2023_
_£_
_23,764_
_157,746_|
|---|---|---|
||||
|||_181,510_|
Membership subscriptions totalling £164,297 are deferred to the following year in line with the membership period (2023: £153,395).
Page 24
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **17. Statement of funds**
**Statement of funds - current year**
|**Balance at 1**
**October**
**2023**
**£**
**Unrestricted funds**
**Designated funds**
Creative Fund
**22,500**
**General funds**
General Funds
**370,982**
**Total Unrestricted funds**
**393,482**
**Restricted funds**
Creative Fund
**5,887**
**Total of funds**
**399,369**|**Income**
**£**
**Expenditure**
**£**
**-**
**-**
**447,013**
**(382,878)**
**447,013**
**(382,878)**
**420**
**(2,070)**
**447,433**
**(384,948)**|**Transfers**
**in/out**
**£**
**(2,500)**
**2,500**
**-**
**-**
**-**|**Balance at**
**30**
**September**
**2024**
**£**
**20,000**|
|---|---|---|---|
||||**437,617**|
||||**457,617**|
||||**4,237**|
||||**461,854**|
The Creative Fund was established to fund student work, research and award for excellence.
Page 25
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **17. Statement of funds (continued)**
## **Statement of funds - prior year**
|_Balance at_
_1 October_
_2022_
_£_
_Income_
_£_
**Unrestricted funds**
**Designated funds**
Creative Fund
_6,100_
_-_
**General funds**
General Funds
_331,357_
_427,089_
**Total Unrestricted funds**
_337,457_
_427,089_
**Restricted funds**
Creative Fund
_8,759_
_1,036_
**Total of funds**
_346,216_
_428,125_
**18.**
**Analysis of net assets between funds**
**Analysis of net assets between funds - current period**|_Expenditure_
_£_
_-_
_(371,064)_
_(371,064)_
_(3,908)_
_(374,972)_|_Transfers_
_in/out_
_£_
_16,400_
_(16,400)_
_-_
_-_
_-_|_Balance at_
_30_
_September_
_2023_
_£_
_22,500_|
|---|---|---|---|
||||_370,982_|
||||_393,482_|
||||_5,887_|
||||_399,369_|
|||||
|**Unrestricted**
**funds**
**2024**
**£**
Tangible fixed assets
2,747
Fixed asset investments
10,000
Current assets
653,027
Creditors due within one year
(208,157)
**Total**
457,617|**Restricted**
**funds**
**2024**
**£**
-
-
4,237
-
4,237|**Total**
**funds**
**2024**
**£**
**2,747**
**10,000**
**657,264**
**(208,157)**|
|---|---|---|
|||**461,854**|
Page 26
**(A company limited by guarantee)**
## **THE INSTITUTE OF HISTORIC BUILDING CONSERVATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **18. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior period**
|Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2023_
_£_
_4,441_
_10,000_
_560,551_
_(181,510)_
_393,482_|_Restricted_
_funds_
_2023_
_£_
_-_
_-_
_5,887_
_-_
_5,887_|_Total_
_funds_
_2023_
_£_
_4,441_
_10,000_
_566,438_
_(181,510)_
_399,369_|
|---|---|---|---|
## **19. Pension commitments**
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £6,283 (2023: £5,856). Contributions totalling £3,442 (2023: £403) were payable to the fund at the balance sheet date and are included in creditors.
## **20. Related party transactions**
In the year to 30 September 2024, sales of £9,584 (2023: £9,234) were made to IHBC Enterprises Limited, the charity's trading subsidiary. Purchases from IHBC Enterprises Limited in the year totalled £8,760 (2023: £6,659). The amount due from IHBC Enterprises Ltd at 30 September 2024 was £10,090 (2023: £506).
During the year, the subsidiary company made a payment under Gift Aid to the charity of £70,845 (2023: £75,339).
## **21. Controlling party**
The company is controlled by the Board Members who are listed on page 1.
Page 27