REGSsfERED COMPANY NUMBER: 03380637 (England and Wales REGISTERED CHARITY NUMBER: 1063124 REPORT OF THE TRUSTEES AND UNAUOITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 RCH 2024 FOR BIRMINGHAM CONSERVATION TRusr J W Hlnks LLP Chartered Accountants 19 Highfield Road Edgbaston Blrmingham West Midlands B153BH
BIRMINGHAM CONSERVATION TRusr CONTENT5 OF THE FINANCIAL STATEMEMrs FOR ThE YEAR ENDED 31 MARCH 2024 Page Report of theTrustees Independent Examlner's Report io Statement of Flnanclal Artfvltles li lan Sheet 12 to Notes to the Flnanclal Ststements 14 to 28 Detalled Statement of Flnanclal Artlvltles 29 to 30
BIRMINGHAM CONSERVATION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland {FRS 1021 {effective l January 20191. OBJEcfivES AND AcfiviTIES ObJectlve5 and alms Birmin8ham Cofiservation Trust's primary mission Is"returnin8 historlc bulldlngs to a place In people'5 lives." The charlty's main purposes consist of the followlng. To presetve for the citizens of Birmingham and in the County of the West Midlands and of the natlon at large, whatever the historical, architectural and constructlonal heritage may exlst in and around the City of Birmingham aforesaid in the form of building5 lincludin8 any building as defined in Section 336111 of the Town and County Planning Act 19901 of partlcular beauty or hlstorScal. architectural or constructional interest. To promote the education of the general public as regard5 the occupation and use of such bulldings throu8hout thelr hSstory. The Coffin Work5 Is run and owned by Birmingham Conservation Trust. The Coffin Works Museum is a 'Heritage at Risk, success story, preserving the unique contents of the former Newman Brothers, Coffin Fittings manufactory in Birmingham. It's Grade-Il* listed and Is the only surviving example of a purpose-built Victorian coffin furniture manufactory in the UK. The museum opened in 2014, has welcomed over 80,Crf)O visitors and won 14 518nificant awards. Thi5 includes The Queen's Award for Voluntary Service and most recently 'Small Visitor Attrattion of the Year, in the 2022 West Midlands Tourism Awards. The Coffin Works is a unique combination of museum, creative business tenants and events spaces which 15 a rare hybrid rnodel for independent museums. We do this through guided tours, 5elf-guided vlsits, bespoke events, creative business space5 and partnerlng wlth local artlsts, heritage organisation5 and local unlverslties to create a dlver5e cultural offerin8. What we do Our core misslon is to promote the enjoyment of Birmingham's, and the UK'5 cultural heritage through access to our building and its unique contents. We do thls through guided tours, self-guided vislts, bespoke events, partnerin8 With local artlst5, herltage organisation5 and local universities to create a diverse cultural offerin8. In 2016 the charity adopted a 10 year buslness Strate wlth the following three key goals. Lead the field as an architectural preservation trust. Increase our irnpact. Achieve financial sustainability. To achieve these goa15 the charity set the following six aim5. Aiml To contribute to and champion innovation and best practice in the field of architectural preseation in the UK. Aim2 To develop a strong and effective team to 8overn, manage and operate the charity. Page I
BIRMINGHAM CONSERVATION TRUST REPORT OF TrIE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 Alm3 To review operational effectiveness, implement the financial systems that give us the information we need when we need it and to have completed a performance cycle and review. Aim4 To implement an income generation strategy. Aim5 To make a difference to threatened heritage in the city. Aim6 To identify audiences and understand how best to engage wlth them. En r wo k deliver ur We continue to review our aims, objectives and activities each year, looklng at what we achleved and the outcomes of our work in the previous 12 months. We revSew the success of each key attivity and the beneflts they have brought to those 8roups of people we are set up to help. Thls helps us ensure that our aims, objectives and activities remained focused on our stated purposes. We are currently updating our business strate8Y to reflert the progress made since 2016 and the current aims of the Trust. We have referred to the guidance contalned in the Chartty Commission's general guldance on public beneflt when reviewing our aims and objectives and In plannin8 our future activitles. In partlcular, the trustees consider how planned activitles wlll contribute to the aims and oblectives they have set. The focus of our work The charity continues to operate as a bullding preservation trust. Slgnificant actlvltles Our main activities and who we try to help are described below, All of our charitable activities focus on our ability to be a catalyst and instigator for the conservation of at risk buildings in Birmingham, to preserve bulldings of historical and architectural interest for the citizens of Birmingham and the West Midlands and to educate the 8eneral public as re8ards the occupation and use of such buildings throughout thelr hlstory, The charity continues to operate as a building preservatlon trust and is a member of the followin8 groups. The Herita8e Trust Network (formerly known as the UK Assotiation of PreSeatIOn Trusts). The Heritage Alliance. Birmin8ham Heritage Forum. As owners and operators of an independent museum {Newman Brothers at the Coffin Works) the charity is an institutional member of the Association of Independent Museums {AIMI and the Museums Association. The Coffin Works Museum It is the Trust's mission to protect the heritage assets it is responsible for in this case, the Coffin Works Museum. It continues to do this successfully by employing a small. skilled team, led by our dedicated and highly respetted Museum Direttor, Sarah Haves, to care physically for the buildin& thereby making it safe and accessible for visitors. The Coffin Works, team ensures all building checks are in place and that Its Accredited collection is cared for in accordance with benchmark industry standard5. Page 2
BIRMINGHAM CONSERVATION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMAN Charitsble artivitles ur activi Ilver lic benefi In setting our objectives and planning our attivities the trustees have given careful consideration to the Charity Commission's general guidance on public benefit, including the guidance on public benefit and fee charging. All of our charitable attivitles focus on our abillty to be a catalyst and instigator for the conservatlon of at risk buildings in Birmingham, to preserve buildings of historical and architectural interest for the citizens of Birmin8ham and the West Midlands and to educate the 8eneral publlc as re8ards the occupation and use of such buildlngs throu8hout their history. Coffin Works 10th Birth Celebrations The year ended 31 March 2024 marked a decade of the Coffln Works Museum and we hosted a birthday party to celebrate those 10 years and to thank all of the people who have played their part In makin8 It a success since 2014. This birthday mafked a key milestone for the museum on account of Its challenges over the last decade, but the fact that it is stronger and more ambStiOU5 than ever is something that should be highllghted and Is testament to the resilience that has been built up over those 10 years. Birmingham Conservation Trust IBCT) was approached by Birmingham City Council and Historic England in September 2023 to progress a project to conserve and bring back into use the Grade-11 listed Golden Lion Inn in Cannon Hill Park. In May 2024 we appointed as lead consultant and conseNation architects, Oliver Architecture, to lead on the feasibility study for the 51te including the following. Providing a specialist assessment of the building'5 condition, Outlinlng the extent and costs of repair and upgrade works necessary to secure a future use. Identifying the urgentlessential repairs requlred to mitigate further short-term decllne. Assisting In Identifying viable future uses and understanding the works and costs required. Historic England, the William A Cadbury Charitable Trust and the Architectural Heritage Fund have offered grant funding sufficient to dellver the feasibility study and a small programme of emergency repair works to ameliorate the Immediate threat5 to the building's security and structural integrity. Oelivery of the feasibility study will culminate in Identifying three vlable options for the future of the bulldlng with one preferred option taken forward to a grant funding sta8e. The piece of work is expected to be completed in January 2025. At this Stage, the Board of Trustees will consider the position of the Trust, taking forward on the ba515 of adequate risk mitigation, prudent financial consideration and capacity management. Founded in 1977, Birrningham Conservation Trust has evolved and adapted to changing landscapes as part of the wider Building Preservation Trust movement and continue5 to do so. Having established and 5UStained the Coffin Works site the staff and board position is now such that the relevant governance and commercial skillsets will enable the increased delivery of regeneration projects once more. Page 3
BIRMINGHAM CONSERVATION TRUST REPORT OF THE TRUSTEE5 FOR THEYEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Charitable artlvltles Celebratin Coffin orks, Success The Coffin Works continues to go from strength to strength with growing admissions income and visitor fi8ures now exceeding pre-pandemic figures. Based on the significant challenges faced by the sector during this perlod, the tireless work of stsff and volunteers, alongside support from the wider community, cannot be underplayed in recognising this sustainabilitv. The growin8 Coffin Works, team and their efforts is at the heart of this success cannot be taken for granted. As well as pushing foard. they have also honed the day-to-day running of the museum and made a concerted effort to grow meetSn8 ri)om bookin8s, hospitality revenue and expand on group visits. The Museum is now open on Wednesdays which means that it is back to pre-pandemic openin8 times. Thls has been a 8reat driver of the museum's recovery. In 2023 we a150 launched a new Coffin Works, website, which has improved the visitor journey and allowed us to make bookin85 and plannln8 vlslts Much easier. Equally, our tenanted spaces are full and rental income is at Its hlghest. In July 2024 we said goodbye to our longest standin8 tenant, Levells, but we welcomed new tenants, Midport Scandinavia, a technical software company who are work(n8 c105ely with us to use their expertise in improving our environmental monitoring for the museum. The museum is led by a pa551onate Museum Director and three Volunteer & Operatlons Co-ordinators. They are 5UPPOrted by a dedicated team of 80 volunteers consisting of students, graduates, retSree5, unemployed and those in part and full-time employment. We pride ourselves on creating volunteering pathways for all and, in particular, our partnerships with Schools and universities means that we have a young and diverse group of volunteers. In fact, our programme has been recogni5ed nationally for both its diversity and retention. In return we are able to deliver one of the best visitor experiences in the West Midlands. The Lonely Planet agrees, having recently named us 'Best Unusual Museum, in the UK. er The recovery and return of international visits a playing a crucial role in our growth which is why the Coffin Work5, involvement in the West Midlands V151tor Pass, spearheaded by West Midlands Growth company, is vital to the recovering economy of the region. The year 2023 saw heritage-related international tourisrn Spending reach its highest level nationally as reported by Historic England in 'The Contribution of the Herltage sector to the visitor economy, published and updated on 11 November 2024. The Coffin Works is at the helm of promoting and championing Birmingham's herlta8e, as an attraction that has consistently remained In the 'Top S Thin8S to do in Birmingham, for the last 10 years. The Museum is also Ideallv sltuated near the heart of Blrmingham city centre and has a key opportunity to capitalise on the footfall from the Paradise redevelopment and adjacent developments, on the doorstep of the Museum. Grant Fundin and Im En mental Condi Key funder5 and grant givers in the sector recogni5e the Museum's importance a5 the Coflin Works wa5 just one of 26 museums nationwide to receive a Museum Estate and Development Fund IMENDI grant from Arts Council England. The success rate wa5 le55 than 10%. The purpose of the MEND Fund Is to enable museums across the country to deliver a better experience for visitors and staff, make acce55 and environmental improvements, unlock income-generating opportunities and continue to protect treasured building5 and collections for future generations. A5 a re5uIt, we have been able to install secondary glazing on the front of the building from the Museum shop up to the top floor. to increase the energy efpiciency and comfort of volunteers, visitors and our accredited collection. In addttion the grant will fund Uv-filtering film on the north range of the building to improve conditions for tenants in the warmer months of the year as well as a wireless environmental monitoring system. Page 4
BIRMINGHAM CONSERVATION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The transfomiative impart of this grant for the museum cannot be underestimated. Secondary glazing will be a game changer for us with multiple benefits for visitors, volunteers and our collection. With rising energy prices we have had to regulate energy but installlng secondary glazing will allow us to control costs and environmental conditions, saving up to 35% on energy bills and establishing further best practice in the sector. We are extremely grateful to DCMS, Historic England and the Arts Council for making this possible as, without this fund, the environmental improvements we want to make would be cost prohibitive. rowin The volunteer team now numbers 80 people wlth that team contributing an equivalent resource of three full-tlme members of staff. As part of a growing team we recognise the importance of keepin8 everyone healthy which Is why the staff team are now all trained as 'Mentsl Aid First Aiders,. ThSs training was thanks to the grant fundlng of our wellbein8 project funded by Midland5 Museum Development and has allowed for a programme of activitles focusslng on improvlng and managing mental health. Thi5 has now paved the way for prioritisin8 ongoing activities all year round as part of our workplace culture. As an or8ani5ation that relies on volunteers to open its door, we understand that they are the Ilfeblood of our museum. This 15 why we pride ourselves on the level of support, care and mentoring we provide. We believe that a happy and healthy environment breeds passion and goodwill and the latter 15 the bedrock of our organisation. In recognition of the importance of volunteers to the running of our Museum we are Increasin8 our organisational resilience through hosting three Volunteer Recruitment Days annually. The majority of our volunteer5 'find us, which is a fortunate position to be in and our online social media presence cannot be underestimated in promoting that, but now we are actively recruitin8 volunteers through 'call outs.. taff Team The Birmingham ConseNation Trust team has excelled in their duties over the course of the period wSth staff members taking on professional development and applying new skills across a broad range of funded and core programmes. The Coffln Works achieved 'Highly Commended, In the category of 'Team of the Yearf at the Museum + Heritage Awards. This award recognised the work that goes on behind the scenes, specifically celebrating team5 that aren't front facin8. The Coffln Works, staff team are exactly that= they are not the face of our museum, but they are it5 backbone. Followlng a VlsitEn8land Vlsitor Attraction Quallty Scheme assessment, we are pleased to share the exciting news that The Coffin Works has been awarded a VisitEngland Hidden Gem Accolade. This accolade Is testament to the hlgh standards achieved whSch the assessors felt were truly deseNing of recognition. In particular, notlng the decade of servlce, the Board applauds the ongoin8 commltment and impact of Sarah Hayes who has adopted an enhanced role as Trust and Museum Dlrertor, marking both her commitment to the organi5ation and the significant development of skillset over that ten-year period. Reaching this critical milestone as an organisation, openin8 and operating the Coffin Works, Sarah ha5 remained constant as the leader across the strategic and day-to4ay management of the organi5ation, catalysin8 the re-animation of the slte and growin8 her role and responsibilities in tandem. Whilst the Museum is held in such high regard due to its focus on people, across colleagues and visitors. this culture is spearheaded by the Director. The Board f Trustee5 The Board would like to state its thanks to board member5 who stepped down over the course of the year Including Robert Hayes, Gurminder Kenth, Seb Lovell-Huckle, Christine Cushin8 and Richard Garside who provided critical stewardship to the Trust, managing challengin8 Covid-19 Pandemic impacts and establishing the foundation upon which the new Board is able to progress future ambitions. Page 5
BIRMINGHAM CONSERVATION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Subsequently, the transition in membership of the Board, with a range of new tru5tee5 joining the Trust, is providing for the broad range of experience and skillsets necessary for prudent management and ongoing 5UStainability. Barcla Debankin On l November 2023, Barclays Bank, who we had held accounts with for nine years, closed our three bank account5 in error and as such we were caught up in the natlonal debanking scandal. They eventually admitted fault and stated in official correspondence that they had let Us down on multiple levels. We Subsequently received £500 in compensation for 'stre55 and inconvenience,. We were able to avoid significant disruptlon to our activitles on account of the quick actions of our Museum Director starting the process of opening a new account with The Co-operative Bank in December 2023. Nevertheles5, this still took a month. The resilience of the charity was underpinned by the museum having multiple ways of taking admissions incorne and a PayPal account whSch proved vital in the inteNening month without a main bank account. The Board would like to express special thanks to former Chair, Christine Cushing, for providSng a bridging loan to pay staff wages and to Jack Han50n who covered one month's insurance c05t due to cashflow issues on account of Barclays not releasing our Income until December 2023. In Memoriam We would like to honour the memory and legacy of one of the Coffln Works, longest-standin8 and most loyal volunteers, Vickie Jones, who died unexpectedly In November 2023. Vickie did everythlng possSble to help the CofFin Works succeed and quite simply the place isn't the same without her. We would also like to acknowledge the very generous donation of £5,000 from Vickie'5 husband, Keith Jones, which he made to the museum in her memory. As mark of respect, the Coffin Works, team nominated Vlckie posthumously for a 2024 Museum + Heritage Award in the category of 'Volunteer of the Year,. She was shortlisted and, although she didn't wln, she received a special acknowledgement from the judges. Another of our volunteers, Karen Cameron, passed away in March 2024 so we would also like to take thls opportunity to highlight her contribution to the rnuseum. She was one of our digital volunteers who had an actlve role in updating our website and will be sorely mlssed by all at the museum. FINANCIAL REVIEW Flnanclal posltlon The Statement of Financlal Activlties for the year ended 31 March 2024 shows incoming resources for the year totallin8 £184,36112023- £127,044) and resources expended totalling £193.78212023.' £157,421). Net outgoing resources for the year ended 31 March 2024 amounted to £9,421 12023.. net outgoing resources £30.3771. As a result, the charity'5 total funds have decreased from £1,534,992 35 at 31 March 2023 to £1.525,571 as at 31 March 2024 of whlch £66,29312023'. £87,266) was unrestricted. Restricted funds totalling £1,459,278 a5 at 31 March 202412023.. £1,447,726) continue5 to be comprised mainly of restrlcted flxed a55ets and heritage assets. Reserves pollcy It is the policy of the trustees to maintain a level of reserves sufficient to ensure the continued operation of the charity's artivities. Page 6
81RMINGHAM CONSERVATION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FUTURE PLAhlS With Birmingham Conservation Trust's pandemlc recovery and push to lead building preservation projects in the city once again, our aspirations for the future are clear to see. Emergence from the Covid-19 pandemic and its impact on the wider sector cannot be underestimate, and the efforts of all parties. including the supp)rt of external stskeholders, has enabled the necessary resilience to take Birmingham ConseNation Trust foNard. The Board also recognises the importance of enabling restructuring where needed to increase the capacity of the current staff team. Working with an external HR consultant who is reviewing strutturing and undertaking a benchmarking exercise means that we are prioritising staff growth and ensuring we have the ri8ht resource at the helm to push our organisation forwards whilst supportin8 the growth of staffs roles and responslbilities. The Trust, having cemented Sts sustainability operatlng the Coffin Works sSte. and wlth the recrultment of new Board members, is now placed to progress as a Building Preservation Trust. actively identifying and delivering projects a5 a strate8ic partner of choice for the wider public sector. Building new skillsets and experience within the current team, the Golden Lion project will provide the first test case and enable the Trust to diversify and expand it5 Portfolio of schemes to create an increa51n8ly resilient business model of multiple income streams. External investment Is a key driver of thi5 and we were recently awarded a student trainee5hlp grant of £9,200 by Art Fund to 5UPPOrt two new Heritage Engagement Interns between January 2025 and December 2025. This will support museum actlvities of 10 hours per week, split across two shifts between Wednesday to Sunday. We continue to revlew our aims, objective5 and activlties each year, looking at what we achieved and the outcomes of our work in the previous 12 months. For Trust development during the year ended 31 March 2025 we intend to implement the following. Continue to develop the Coffin Works site as it enters its second decade of operation. Build a full and proper understanding of the scope of the Golden Lion project and Identlfy the suitable solutions to take the scheme forward, pending evidenced viability. Establish a forward plan and associated business plan to capitalise upon the new momentum for the Trust In its role as an active Building Preservation Trust. STRucfuRE. GOVERNANCE AND MANAGEMENT Governln8 document Blrmingham Conservation Trust is a company Ilmlted by guarantee Ireglstered number 033806371 which was Incorporated on 29 May 1997 and achieved charitable status on 27 June 1997 Ire8lStered number 10631241. The charity was established under a Memorandum of AsKlatIOn which established the objects and powers of the charity and is governed under its Article5 of Association. In the event of the charity being wound up members are required to contribute an amount not exceeding £10. Recruitment and appointrnent of new trustees As set out in the charity's Articles of Association new trustees are appointed by the Board of Trustees after applying to the charity in the form required by the trustees and after being approved by the Board of Trustees. All trustees give their time voluntarily and receive no benefits from the charity- Any expenses reclaimed from the are charity set out in the notes to the financial statements. Page 7
BIRMINGHAM CONSERVATION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 sTrucruRE. GOVERNANCE AND MANAGEMENT Organisatlonal structure The management and control of Birmingham Conservatlon Trust Is vested in its governing body. a Board of Trustee Dlrertorsof up to 13 member5. The Board has formal sub-committees.. Cofpin Works Management, Planning and Development, Finance and Financial Stability and Health and Safety. Worklng group5 are formed as and when required to undertake specific tasks. BlrmlnEham Conservation Trust staff lor the year ended 31 Marth 2024 Coffin Works and Museum Director Sarah Hayes Volunteer and Operations Co-ordinator Claire McGibbon Volunteer and Operations Co-ordlnator - Emma Barran-scott Volunteer and Operations Co-ordinator - Megan Ward Volunteer and Operations Co-ordinator Clarissa Barclay Volunteers Volunteers form the backbone of the charity's visitor experience at the Coffin Works, chiefly providin8 valuable front-of-house services, tour guldln& room enablin& collections care and research. All new volunteers receive in person tralnin8 and an inductlon pack, Inductlon and tralnln8 of new trustees All new trustees receive an induttion pack containing a copy of the charlty's Memorandum and Articles of Association, draft busine55 plan, annual report and financial statements and supporting documentation from the APT Guidance Notes for building preservation trusts. Risk management The Trustees have a duty to identify and review the risks to whlch the charity is exposed and to ensure appropriate controls are In place to provlde reasonable assurance against fraud and error. The Trustee5 also examine the major strategic, busine55 and operational rlsks that are associated with undertaking each prolect. System5 are in place to enable regular reports to be produced so that the necessary 5tep5 can be taken to manage these risks. REFERENCE AND AOMINISTRATIVE DEfAILS Reglrtered Company number 03380637 IEn8land and Wale51 Re8lstered Charlty number 1063124 Registered offlce The Coffin Works 13- 15 Fleet Street Birmingham B3 IJP Page 8
BIRMINGHAM CONSERVATION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Trustees C Cushing A M French R H Garside J W Hanson T R Hasker-sarchet resigned l June 2023 appointed l June 2023 - resigned 18 December 2023 - resigned 14 August 2024 - resigned l February 2024 - appointed ljune 2023 and 30 August 2024 - appointed l June 2023 - appolnted l June 2023 RJ EHayes K Jarrett G Kenth S W Lovell-Huckle D K Matharu B J Parker Drj Mwall RA Wilson-styles - resigned 17 November 2023 - resigned l June 2023 - resigned 14 March 2024 - appointed 24 September 2024 - appolnted 14 August 2024 - appointed 14 August 2024 Independent Examlner J W Hinks LLP Chartered Accountants 19 Highfield Road Ed8baston Blrmingham West Midlands B15 3BH Bankers Co-oper*ive Bank l Balloon Street Manchester M604EP This report has been prepared In accordance wlth the speclal provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 16 December 2024 and 518ned on its behalf by.. B J Parker- Trustee Page 9
INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF BIRMINGHAM CONSERVATION TRUST Independent examlner's report to the tfustees of Blrmlngham Conservation Trust I'the Company,) I report to the charity trustees on my examination of the accounts ofthe Company forthe year ended 31 March 2024. Respon51bllltle5 and basls of report As the charity's trustees of the Company land also it5 direttors for the purpose5 of company lawl you are responsible for the preparatlon of the accounts in accordance with the requirements of the Companie5 Att 20061'the 2006 Act'}. Havln8 satisfied myself that the accounts of the Company are not required to be audlted under Part 16 of the 2006 Att and are eligible for independent examination, I report in respett of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 Ibl of the 2011 Act. Independent examiner's statement I have completed my examination. I conflrm that no matters have come to my attentlon In connection with the examination giving me cause to belleve: accounting record5 were not kept in respect of the Company as required by Section 386 of the 2006 Act; or the accounts do not accord with those records; or the accounts do not comply with the accounting requirement5 of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair vlew which is not a matter consldered as part of an independent examlnation,. or the accounts have not been prepared In actordance with the methods and principles of the Statement of Recommended Practice for accounting and reportin8 by chartties (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 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 account5 to be reached. Peter Smith ACA J W Hinks LLP Chartered Accountant5 19 Highfield Road Edgbaston Birmingham West Midlands B15 3BH 16 December 2024 Pa8e 10
BIRMINGHAM CONSERVATION TRUST STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2024 2024 Totsl fun¢ts 2023 Total funds Unre5trlcted fund Restricted funds Notes INCOME AND ENOOWMENTS FROM Donatlons and le8acie5 8,322 8.322 15,789 Charitsble actlvltle5 Charitable aCtiviteS 73036 31,304 105.140 52.315 Other trading activities Investment income 9,449 61,450 9,449 61,450 8,037 50,903 Totsl 153x157 31,304 184,361 127,044 EXPENDITURE ON Charltsble activltles Charltable activitles 174,030 19,752 193.782 157,421 NEf INCOMEI(EXPENDITUREI (20,9731 11.552 {9,421) 130,3771 RECONCIUATION OF FUNDS Total funds brought forward 87,266 IA47.726 1,534,992 1,565,369 TOTAL FUNDS CARRIED FORWARD 66293 1,459.278 1.525.571 1,534.992 The notes form part of these financial statements Page 11
BIRMINGHAM CONSERVATION TRusr 8AiANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Totsl funds Unrestricted fund Restricted funds Notes FIXED ASSErs Tangible a55et5 Heritage a55ets Investments Investments Investment property 14 15 18,163 682A20 750N54 700,583 750.454 714,123 750,454 16 17 15 15 18,178 1,432,875 IA51.053 1,464,593 CURRENT ASSErs Debtors Prepayments and accrued income Cash at bank 18 4,596 7,361 57.176 4,596 7,361 83.579 9,830 7,279 74,674 26,403 69,133 26,403 95,536 91,783 CREDITORS Amounts fallin8 due wlthln one year 19 121,018) 121,018) 121,384} NEf CURRENT ASSETS 48,1 26.403 74,518 70,399 TOTAL ASSETS LESS CURRENT LIABILITIES 66.293 1,459,278 1.525,571 1.534,992 NET ASSETS 66293 1,459.278 1,525,571 1,534,992 FUNDS Unrestricted funds Restricted fund5 21 66,293 1.459,278 87,266 1.447,726 TOTAL FUNDS 1,515,571 1,534,992 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Art 2006. The trustees acknowledge their responsibilities for la) ensuring that the charitable company keeps accounting records that comply with Sertions 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company s at the end of each financial year and of it5 Surplus or deficit for each financial year in accordance with the requirement5 of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Art 21M16 relating to financial statements, so far a5 applicable to the charitable companv. Ibl The notes form part of these financial Statements Page 12 continued...
BIRMINGHAM CONSERVATION TRUST BALANCE SHEET- continued 31 MARCH 2024 These financial statements have been prepared In accordance with the provision5 applicable to charitable companies subject to the small companies regime. The financial ststements were approved by the Board of Trustees and authorised ftjr issue on 16 December 2024 and were signed on its behalf by.. BJ Parker- Trustee The notes form part of these financial statements Page 13
BIRMINGHAM CONSERVATION TRUST NOTESTO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES GENERAL INFORMATION AND BASIS OF PREPARING THE FINANCIAL STATEMENTS General Information Birmingham Conservation Trust is a charity incorporated in England and Wales. The address of the charity's registered office is The Coffin Works, 13- 15 Fleet Street, Birmingham B3 IJP. Attounting conventlon The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 "Accounting and ReportSng by Charities.. Statement of Recommended Practice applicable to charities preparin8 their accounts In accordance with the Financial Reporting Standard appllcable in the United Kingdom and Republic of Ireland IFRS 1021 (effective l January 20191" Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" the Companies Act 2006 and the Charities Act 2011. The financial Statements have been prepared u5Ing the historlc tost convention and are presented in sterllng which is the functional currency of the Association, rounded to the nearest £1. The Significant accounting pollcles applied in the preparation of these financial statements are set out below. These pollcies have been consistently applied to all years presented unless otherwise stated. FINANCIAL REPORTING STANDARD 102- REDUCED DISCLOSURE EXEMPTIONS The charity has taken advantage of the following disclosure exemption in preparing these financial Statements as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" the requirement of Settion 7 Statement of Cash Flow5. COMPANY STATUS The charltv is a company limited by guarantee. In the event of the charity being wound up the liability in respect of the guarantee is limited to £10 per member of the charity. GOING CONCERN The financial statements have been prepared on a golng concern basis as the trustees belleve that no material uncertainties exlst. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The expected level of income and expenditure is sufficient with the level of reserves for the Associatlon to be able to continue as a goin8 concern. INCOME All income is recogni5ed in the Statement of Financial Activities once the charity has entitlement to the funds, it Is probable that the income will be received and the amount can be measured reliably. For donations to be recognised the charity will have been notified of the amounts and the settlement date. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those condition5 are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. The charity receives grants from other third parties in respect of its activities. Grants receivable from other third parties are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Page 14 continued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POUCIES- contlnued INCOME Investment income is earned through holding assets such as cash on deposit. It includes interest receivable. Interest income is recognised using the effective interest rate method and is recognised as the charity's right to receive payment is established. 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 cla5slfied by activity. The costs of each activlty are made up of the total of dlrert costs and shared costs including support costs involved in undertaking each attivity. Dirert costs attributable to a single attivity are allocated directly to that activity. Shared costs which contrlbute to more than one activlty and support costs which are not attributable to a single activity are apportioned between those artivitie5 on a basis consistent with the use of resources. Central staff cost5 are allocated on the basis of time spent and depreciation charges allocated on the portion of the asset's use. Support costs are those costs incurred directly in support of expenditure on the oblects of the charity and Include projett management. Governance costs are those costs incurred in meeting the compliance requirements in connertion with the operation of the charity as an entity. TANGIBLE FIXED ASSErs Tangible fixed assets are carried at cost, net of depreciation and any provislon for impairment. Depreclation 15 provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases. Freehold propertv Office equipment Computer equipment over 60 years. over 15 years. over 10 years. Freehold ro Freehold property held by the charity and not considered to be a heritage a55et is shown in the balance sheet at a depreciated replacement cost belng the current cost of replacin8 an asset with its modern equivalent asset le55 deductions for physical deterioration and relevant forms of obsolescence and optimisation. HERITAGE ASSETS The trustee5 consider both the museum element of the freehold bulldlngs at Newman Brothers Coffln Fitting Work5. and the collettions contained within. to be heritage assets. These heritage 355ets are held in support of the charity's objective of pre5ervin8 and enhancing Birmingham's threatened architettural heritage and promoting an enjoyment and understsnding of the city's historic buildings. The proportion of the charity's freehold building5 that comprise the Newman Brothers museum is recogni5ed at cost. The trustees deem this policy to be appropriate given the historic nature of the buildings and the nature of the charity's activities which ensures that the building5 are maintained in an excellent state of repair to be enjoyed by future generations. The relevant proportion of the freehold buildings has been determined with reference to the footprint. Page 15 continued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL sTATEMEs- contlnued FOR THE YEAR ENDED 31 MARCH 2024 AccouMnNG POUCIES- continued HERITAGE ASSETS It is the policy of the charity not to capitalise the heritage assets held in the collettions of the charity. These items were either found within the Newman Brothers Coffin Fittin8 Works after it was purchased or are small items that have been donated by former employees or associates of the previous occupant. Whilst the contents of the factory are a fundamental part of the heritage of the factory and represent a fascinating picture of life in a Wictorian factory in Birmin8ham, there is little or no commercial value to these items and they are mstly irreplaceable. As a result. the trustees believe that any financial based valuation would be misleading of the value and significance of the items and, furthermore, the cost of undertaking such a valuation is deemed to outweigh the benefit as the charity would not look to dispose of any items. No depreciation is charged on heritage assets as the a55ets afe deemed to have indeterminate lives. The trustees will consider at least annually whether there has been any impairment to the carrying value of anv capitallsed herita8e assets. INVESTMENTS Fixed asset investments are a form of financlal instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the headin8 "gainslllossesl on investments" in the Statement of Financial Activities. CASH AND CASH EQUIVALENTS Cash and cash equivalents include deposits held at call with banks and other third parties INVESTMENT PROPERTY Investment property relates to a parcel of land and is shown at a nominal value. TAXATION The charity is exempt from corporation tax on its charitable actlvlties. FUND ACCOUNTING General funds are unrestrlcted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charlty and which have not been designated for other purposes Designated funds comprise unrestrlcted funds that have been set aslde by the trustees for partlcular purposes. Restricted funds are funds which are to be used In accordance with speclflc restrictions imposed by donors or which have been raised by the charity for partlcular purposes. The costs of ralsing and adminlstering such funds are charged against the specific fund. Further explanation of the nature and purpose of each fund is inc5uded in the notes to the financial statements. FINANaAL INSTRUMENTS The charity only has financlal a55ets and financial liabilities of a kind that qualify as baslc financial instruments. Basic financial instruments are inltially recognised at transaction value and subsequently measured at amortised cost. Page 16 continued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL 5TATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- contlnued PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activlties in the period to which they relate. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF EsnMATION UNCERTAINTY In the application of the charlty's accountlng policies, the trustees are requlred to make judgements, estlmates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other other sources. The estimates and underlylng assumptSons are revlewed on an on80ing basis, Revisions to accounting estimates are recognised In the period in whlch the estimate is revlsed where the revision affects only that perlod or in the period of the revision and future periods where the revisSon affects both current and future perlods. Critical accountSng estimates are consldered to be the valuation of heritage a55ets and fixed asset Investments. DONATIONS AND LEGACIES 2024 2023 Donations Gift Aid Grants receivable 8.322 3,621 1,193 10,975 8,322 15,789 OTHER TRADING ACTIVITIE5 2024 2023 Income from trading 9,449 8,037 INVESTMENT INCOME 2024 2023 Rental income 61.450 50,903 Page 17 continued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE AcrivrriES 2024 2023 Artivity Charitable activities Charitable attivities Museum income Grants receivable 71A36 33J04 52,315 105.140 52,315 Grants received, included In the above, are as follows. Unrestrlrted nds Restrlcted funds 2024 2023 Historic England - Golden Lion Prolett fund 16,403 16,403 Ironbridge Gorge Museum- West Midlands Museum Development Ilronbrid8el fund 4,9)1 4,901 William A Cadbury Charitable Trust- General fund 2,OlXI William Acadbury Charitable Trust- Golden Lion Project fund 10,000 10.000 2,000 31.304 33,304 CHARITABLE AcfiviTIES COSTS Direct Costs (see note 81 Support costs (see note 91 Totals Charitable activities 107,615 86.167 193,782 Page 18 continued..
81RMINGHAM CONSERVATION TRUST NOTESTO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 DIRECT COSTS OF CHARITABLE AcrivrriES 2024 2023 Staff costs Exhibition costs Equipment and materials Web and graphic design Advertising Interest payable and simllar charges 83ATI 8,694 6.425 72,251 7,821 4,830 4,614 1,430 52 3fi77 lo715 90,998 SUPPORT COSTS Informatlon technolo Support costs Governance Costs Totals Charitable activities 73.223 86.167 Support costs, included In the above, are as follows; 2024 Charitable activltles 2023 Total actlvities Repairs and renewals Staff and volunteer training Insurance Utllities Office costs Sundry Professional fees Depreciation of tanglble flxed assets Examiner's fees lo44 5.755 7,160 26,076 8,861 167 6A46 11.744 8A26 6A22 5N18 16,539 7,217 4,216 16.891 86.167 66A23 io. NEf INCOMEI(EXPENDITUREI Net income/{expenditurel is stated after charging/{creditingl: 2024 2023 Depreciatlon - owned assets 16,891 16,539 Page 19 continued..-
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 ii. TRUSTEES, REMUNERAnoN AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. TRusfEES' EXPENSES There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. 12. STAFF COSTS 2024 2023 Wages and salaries Soclal security costs Other penslon costs 80.626 L3Z7 1,524 69,920 995 1,336 83N77 72,251 The average monthly number of employees during the year was as follows,, 2024 2023 Management and administratlon No employees recelved emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestricted fund Restrlcted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 14,813 976 15,789 Charltable actlvltles Charitable activities 52,315 52,315 Other tradlng actlvities Investment Income 8,037 50,903 8,037 50,903 Total 126,068 976 127,044 EXPENDITURE ON Charltable artlvitie5 Charitable activities 141,886 15.535 157,421 NEf INCOMV(EXPENDITURE) 115.8181 114,5591 130,377) Page 20 continued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENOED 31 MARCH 2024 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES- contlnued Unrestricted fund Restricted funds Total funds RECONCILIAnoN OF FUNDS Total funds brou8ht forward 103,084 1,462,285 1,565,369 TOTAL FUNDS CARRIED FORWARD 87,266 1,447,726 1,534,992 14. TANGIBLE FIXED ASSErs Freehold property Office equipment Computer equlpment Totals COST At l Aprll 2023 Additions 839.754 1.865 42,339 391 13,511 1,095 895,604 3,351 At 31 March 2024 841,619 42.730 14.606 898.955 DEPRECIATION At l April 2023 Charge for year 157.032 12.624 19.155 2,833 5,294 1,434 181,481 I691 At 31 March 2024 169,656 21.988 6.728 198?72 NEf BOOK VALUE At 31 March 2024 671.963 20.742 7.878 700,583 At 31 March 2023 682,722 23,184 ,217 714,123 Freehold property Freehold property consists of the Newman Brothers Coffin Fittings Works and 15 a 8,748 square foot Grade 11 listed former fattory sltuated in Fleet Street on the edge of the historic Jewellery Quarter of Birmlngham. The orlginal three storey premlse5 were built in 1894 and is a typical example of a late 19 century purpose built fattory. A two storey wlng was added in the 19605 to increase produrtlon capacity, The renovated bulldlng contains the Newman Brothers Museum which provldes visitors with an experience of Birmingham'5 industrial heritage, the offices of the Birmingham Conservation Trust and a number of modern workspaces which are rented out to local members of Bimiin8ham'5 creatlve community, The proportion of the freehold property that comprises the museum is recognised at cost and treated as a heritage asset with no depreciation being char8ed. The trustees deem this policy to be appropriate 8iven the historic nature of the property and the nature of the charity's attivitie5 which ensures that the property Is maintained in an excellent state of repair to be enjoyed by future generation5. Depreciation is charged on the proportlon of the freehold property occupied by the charity and its tenants. Page 21 continued...
BIRMINGHAM CONSERVATION TRUST NOTESTO THE FINANaAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 HERITAGE ASSETS Total MARKET VALUE At l April 2023 and 31 March 2024 750,454 NEf BOOK VALUE At 31 March 2024 750A54 At 31 March 2023 750,454 Newman 8rothers Museum The collections maintained by the charity are not capitalised. When the charity acquired the Newman Brothers Coffin Fittlng Works all of the fartory's contents were left In situ. This included large quantities of stock (such as handles, screws, breast plates and shroud51, papenmork (such as sales ledger and catalogues), origlnal plant and machinery and a range of domestic and personal items. Whllst the contents of the factory are a fundamental part of the heritage of the factory and represent a fascinating pitture of life in a Victorian factory in Birmin8ham, there is little or no commercial value to these items and they are mostly irreplaceable. As a result, the trustees believe that any financial based valuation would be misleading to the value and signiflcance of the Items. Furthermore, the cost of completing such a valuation Is deemed by the trustees to outweigh the benefit as the charity would not look to dispose of any items. 16. FIXED ASSEf INVE5TMEMrs Shares in 8roup undertakln85 MARKET VALUE At l April 2023 and 31 March 2024 15 NEf BOOK VALUE At 31 March 2024 15 At 31 March 2023 15 There were no investment assets outside the UK. The company's investments at the balance sheet date in the share capital of companie5 include the following: Page 22 continued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANaAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 FIXED ASSEf INVESTMENTS. contlnued Blrmlngham ConseNatlon Trust (Trading) Llmlted Registered offlce: The Coffin Works. 13-15 Fleet Street. Birmingham, England, B3 IJP Natu of business: speciallzed construction activities Class of share: Ordinary £1 holding 100 2023 A88re8ate capltal and reserves 31 17. INVESTMENT PROPERTY FAIR VALUE At l April 2023 and 31 March 2024 NEf BOOK VALUE At 31 March 2024 At 31 March 2023 Investment propety includes a parcel of land. No valuation is available and therefore the land has been included at a nominal value of £1. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR Z024 2023 Trade debtors Amounts owed by group undertakin85 VAT I03 1.919 4,943 2,968 2.793 4.596 9,830 Page 23 continued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- conlinued FOR THE YEAR ENDED 31 MARCH 2024 19. CREDITORS: AMOUNTS FALLING DUE WIThIN ONE YEAR 2024 2023 Trade creditors Social security and other taxe5 Other creditors Accruals and deferred income I90 12,677 1.687 381 7m8 7,020 21.018 21,384 20. LEASING AGREEMENTS Mlnimum lease payments under non-cancellable operating leases fall due as follow5.. 2024 2023 Within one year Between one and five years 936 650 936 1,586 2,522 zi. MOVEMENT IN FUND5 Net movement in funds At 31.3.24 At 1.4.23 Unrestrlcted funds General fund 87.266 120,9731 66293 Restrlcted funds Coffin Work5 fund West Midlands Museum Development Ilronbridgel fund Golden Lion Project fund IA47203 {1415) IA32,388 523 (36) 26A03 26.403 IA47.726 11.552 L459,278 TOTAL FUNDS 1,534,992 (9,421) 1525.571 Page 24 continued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 21. fvI0VEmE IN FUNDS- continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement In funds Unrestrirted funds General fund 153.057 1174,030) 120373) Restrlcted funds Coffin Works fund West Midlands Museum Development Ilronbridgel fund Golden Lion Prolect fund (14A15) (14AIS1 4,901 26,403 14,937) (36) 16A03 31304 119,752) 11.552 TOTAL FUNDS 184,361 {193,7821 19,421) Comparallves for movement In funds Net movement in funds At 31.3.23 At 1.4.22 Unrestrlrted funds General fund 103,084 115,8181 87,266 Restrlrted funds Cofrin Works fund West Midlands Museum Development Ilronbridgel fund 1,462,285 115.0821 1,447,203 523 523 1,462,285 {14,5591 1,447,726 TOTAL FUNDS 1,565,369 130,3771 1,534,992 Page 25 continued...
81RMINGHAM CONSERVATION TRusr NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 21. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follow5: Incoming resources Resources expended Movement in funds Unrestrlrted funds General fund 126,068 1141,886} 115,8181 Restrfcted fvnds Coffin Works fund West Midlands Museum Development Ilronbridgel fund 115,0821 115,0821 976 14531 523 976 115.5351 {14,5591 TOTAL FUNDS 127,044 1157,4211 130,3771 A current year 12 months and prlor year 12 months comblned position is as follows: Net movement in funds At 31.3.24 At 1.4.22 Unrestrlrted funds General fund 103,084 136,7911 66,293 Restrlrted funds Coffin Worksfund West Midlands Museum Development Ilronbrid8el fund Golden Lion Project fund 1,462,285 129,8971 1,432,388 487 26,403 487 26,403 1,462.285 13,0071 1.459,278 TOTAL FUNDS 1,565,369 {39,7981 1,525,571 Page 26 continued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 21. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlcted fvnds General fund 279,125 1315,9161 136,7911 Restrlcted funds Coffin Work5 fund West Midlands Museum Development Ilronbridge) fund Golden Lion Projert fund {29.897) {29,897) 5,877 26,403 15,3901 26,403 32,280 135,2871 13.0071 TOTAL FUNDS 311,405 1351,2031 139,7981 Purpose of Unrestrlcted Funds This fund represents the free funds of the charity that are not designated for particular purposes. Purpose ot Restrkted Funds n Work This fund represents charity assets to be used for the contlnued operation of the charity's Newman Brothers Museum. Wes Mldla d Museum D lo nt Ironbrid fun This fund represents fundin8 from West Midlands Museum Development towards energy costs. en Lion Pro'ect f nd This fund represents fundlng recelved in order to enable the charlty to commisslon a lead consultant to Co-ordinate and deliver the Golden Lion feasibllity study as well as scope and cost a programme of emergency repalrs. Page 27 continued...
BIRMINGHAM CONSERVATION TRusr NOTES TO THE HNANCIAL STATEMEMfs- contlnued FOR THE YEAR ENDED 31 MARCII 2024 22. REiATED PARTY DISCIOSURES Blmilngham ((MeatIon Trust (Tradin8) Llmlted At 31 March 2024 Birmingham Conservation Trust was owed £nll 12023: £4,912) from its tradlng subsidlary. Blrniingham Conservation Trust (Trading) Limited. Jack Hanson During the year ended 31 March 2024 Jack Han50n, a trustee of Birmingham Conservatlon Trust until 14 Au8U5t 2024, provided a bridging loan to Birmingham Conservation Trust Thls amount was repaid in full to Jack Hanson by Birmingham Conservation Tnjst as at 31 March 2024. Page 28