REGISTERED COMPANY NUMBER: 03380637 IEn8land and Wales) REGISTEREO CHARITY NUMBER: 1063124 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR 8IRMINGHAM CONSERVATION TRUST J W Hlnks LLP chartered Accountants 19 Highfield Road Edgbaston Birmlngham West Midland5 B15 3BH
BIRMINGHAfvI CONSERVATION TRUST CONTE5 OF THE FIPIANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report ofthe Trustee5 Independ•rt Exirnln•rfs Report Statsment of Flnanelal AetlvStSes io Balan¢e Sheet 11 to 12 Notes to the Flnanclal Statem•nts 13 to 25
81RMINGHAM CONSERVATION TRUST (REGISTERED NUMBER: 03380637) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financlal statements of the tharity for the year ended 31 March 2025. The trustees have adopted the provlslons of Accountlng and Reporting by CharitSes.' Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 (effective l January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims Blrmingham ConseNation Trust's prlmary mlssion is "returning hlstorlc bulldlngs to a place In people's Ilves. The charity'5 maln purposes consist of the following. To preserve for the citizens of Birmingham and in the County of the West Mldlands and of the natlon at large, whatever the historlcal, architectural and constructlonal heritage May exist in and around the City of Birmin8ham aforesaid In the form of building5 lincluding any buildlng as deflned in Sectlon 336111 of the Town and County Plannlng Act 19901 of partlcular beauty or hlstorlcal. architertural or con5trurtional interest. To promote the educatlon of the general publlc as regards the o¢cupatlon and use of such buildings throughout their h15tory, The Coffin Works Is run and owned by Birmingham Con5ervatlon Trust. The Coffin Works Museum is a 'Heritage at Risk, success storyi preservlng the unlque contents of the foymer Newman Brothers, Coffln Fittings manufactory in Birmingham. It's Grade-11 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 80,000 visitor5 and won 14 signiflcant awards. Thls Include5 The Queen's Award for Voluntary Service and most recently'small Visitor Attrartlon of the Year, In the 2022 West Midlands Tourism Awards. The Coffln Works Is a unlque combination of museum. creatlve business tenants and events spaces whlch is a rare hybrid model for Independent museums. We do this through gulded tours, 5elf-8uided visits, bespoke events, creatlve bu51ness spaces and partnerlng with local artists, heritage organisations and local unlverslties to create a diverse cultural offering. What we do Our core m15slon 15 to promote the enjoyment of Blrmingham's, and the UK'S cultural herltage through access to our bulldlng and Its unlque contents. We do th[5 through guided tours, self-gulded vlslts, bespoke events, partnerlng with local artists, heritage organlsations and local unlversltles to create a diverse cultural offerlng. In 2016 the charlty adopted a 10 year buslness strategy wlth the followlng three key goals. Lead the fleld as an architectural preservatlon trust. Increase our impart. Achleve flnanclal sustalnabllity, To achieve these goals the charlty set the followlng slx alms. Alml To contrlbute to and champion Innovation and best practlce In the fleld of archltectural preseNatlon inthe UK. Airn2 To develop a strong and effective team to govern, manage and operate the charity. Aim3 To review operatlonal 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 cltv. Aim6 To identify audience5 and understand how best to engage with them. Page I
BIRMINGHAM CONSERVATION TRUST (REGISTERED NUMBER: 03380637) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Ensurin our work delivers our aims We continue to review our alms, objectives and activlties each year, looklng at what we achieved and the outcomes of our work In the previous 12 months. We revlew the success o* each key activity and the benefits they have brought to those groups of people we are set up to help. This helps us ensure that our alm5, objectives and activities reManed focused on our stated purposes. We are currently updating our business strategy to reflect the progress rnade since 2016 and the current aims of the Trust. We have referred to the guldance contained in the Charlty Commission's general guldance on public benefit when reviewing our aim5 and objertive5 and in plannlng our future actlvltie5. In partlcular, the trustees consider how planned actlvltles wlll contribute to the alms and objective5 they have set. The focu5 of our work The charity continues to operate a5 a buildlng preseNation trust. Significant actlvltles Our maln activitles and who we try to help are described below. All of our charitsble actlvitles focus on our abllity to be a catalyst and Instlgator for the conservation of at risk buildlngs In Birmingham, to preserve buildings of hlstorical and architectural interest for the citizens of Birmingham and the West Mldlands and to educate the generol publlc as regards the occupatlon and use of such buildlngs throughout their history. The charSty contlnues to operate as a building preseNatlon trust and Is a member of the followlng groups. The Herltage Trust Network (formerly known as the UK Assoclatlon of Preservation Tru5tsl. The Herltage Alllance. 8irrnln8ham Heritage Forum. As owner5 and operators of an Independent museum INewman Brothers at the Coffin Works) the charlty Is an Instltutional mernber of the Association of Independent Museum5 IAIMI and the Museums A550Clatlon. The Coffin Works Museum It is the Trust's mission to protect the heritage asset5 Itls responslble for In thls case, the Coffln Works Museum. It continues to do this successfully by employing a small, skilled team, led by our dedicated and highly respected Museum Olrector, Sarah Hayes, to care physically for the bullding, thereby maklng it safe and accesslble for vlsltors. The Coffin Work5, team ensure5 all bulldlng checks are in place and that Its Accredlted collection is cared for In accordance wlth benchmark industry standards. The award-winning Coffln Works turned 10 years old on 28th October. Having achleved so much In that tlme and bullt something speclal, includlng the wonderful team of volunteers, this was marked by launching our 'lO for IO, campalgn. To support thls longer-term reslllence of the organi50tlon, and wider sector skllls and career development, the Trust wa5 a grateful recipient of a student Opportunitie5 grant frorn Art Fund, whlch fully covered the salary for 2 full-tlme unlversity students to undertake Heritage Engagement Internships over the course of 2025. Young people are the fvture of heritage, so the alm was to deliver practical experlence to equip them with competltlve knowledge and skills for their CV in the key fundamentals of any herltage role. Meanwhlle, embracing their expert15e and creatlvlty to broaden the museum's audiences and leave a legacy of inclusive engagement. The Museum continues to play its role in supportlng the wider sector, including facllitatlng attendee vislts as part of Tourism Management Instltute Annual Convention, supported by West Midlands Growth Company. The West Midlands has reinvented itself from an industrial heartland to a leading business, cultural and major events destlnation that creates unforgettable experiences. Year after year, 8irmingham is voted the m05t popular events destination outside London and offers a winning combination of excellent infrastructure, seamles5 connectlvity and a growing range of world-class venue5. Recognislng its role as a key Independent tourism destination wlthin the ctsre of Birmlngham, the Coffin Works contlnues to work with partners and stakeholders to ¢hampion the role of heritage. Thls wlll continue, a5 following thi5 report perlod Birmingharn's global influence in jewellery making was recognlsed by being granted World Craft City Status. Following the hosting of representatlves at the Museum, World Craft5 Council President, Saad Al-Qaddumi, said the tltle celebrated the city's 'rich heritage, skilled artisans, cative designers, proud rnakers, and innovative contributlons to the jewellery industry. Page 2
BIRMINGHAM CONSERVATION TRUST (REGISTERED NUMBER: 033806371 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Golden Lion Cannon Hlll Park The financial year saw a major step forward for the Trust in delivering on its function as an active Building Preservation Trust. stsff, notably the Museum & Trust Director, helped secure significant grant finance and managed the subsequent project delivering in scoping the viability of addressing a critical At Risk buildlng of the city. Key outcomes Included a tlear repair strategy to arrest further decline and an informed framework for engaging with potential hjnders and stskeholders. The study explored a range of potential end uses and assessed their tompatibility with the building's historic significance and constraints. As stated by the Museum and Tnjst Director- "We are thrilled to breathe new lifè into the Golden Lion. It's a rare and remarkable suNival of a timber-framed building In Blrmlngham, one that has stood the test of tlme and suThived beyond all odds. Now It Is our turn to help thls much-loved buildin& which is in desperate need of repair. In many ways It fee15 like the last chance for us to art before Its condition becomes beyond repalr. It Is a real honour for Birmlngham ConseNatlon Trust to take on the Golden Llon and we see thls as our next fla£shlp project." The Board antlclpates that the project will proceed, following the delivery of necessary capital repalrs, to further scoplng of vlability and options of use - bubldlng on the output5 Of the feasibility project. Positive relations continue with the owner, Birmingham Clty Councll, and the enthuslasm of the wider community of both park user5 and wider Clty residents, rnaintain the momentum to realise a sustainable restoratSon and re-use of the Grade 11 asset, derellct for decades. ACHIEVEMENT AND PERFORMANCE Charltable actlvltles Howo rac ivitles deliver ublic benefl In setting our objectives and plannlng our actlvlties the trustees hove glven careful conslderatlon to the Charlty Commi551on's general guidance on publlc beneflt, including the Euldance on public benefit and fee charging. All of our charltable activities focus on our ability to be a catalyst and Instl8ator for the conservatlon of at r15k bulldlngs In 8irmingham, to preseNe bulldlngs of hlstorical and architectural interest for the citlzens of Birrningham and the West Midlands and to educate the general public as regards the occupation and use of such bulldlngs throughout thelr hlstory. offin Works The staff team's contlnued hlgh performance was recognised through the latest Visitor Attraction Quallty Assurance Scheme IVAOASI assessment, wlth score Increasing to 89%. Slnce our flrst assessment in 2015, that's an increase for every assessment cycle. Obvious improvement areas are our café by expandlng the offer, whlch contlnue5 to drlve post-pandemic recovery. That commerclal performance of the Museum has contlnued wlth strong stablllty, whllst managlng challenglng national trends In visitor numbers to museums, supported by increased revenue vla dlversifled Income streams beyond ticket sales, Including the enhanted shop and food and beverage Icafél offer. Taklng Into account wlder grant flnance, Income Increased slgnSfScantly agalnst the previous financial year. Looking outward, and buSldlng on the success of the Arts Council England-funded Museum Estate and Development Fund IMENDI prole¢t, the Aston University Decarbonisation Net Zero Programme will carry out an on-slte energy asse55ment, whlch will provide the baseline data Set identifying energy use and provide recommendations and an action plan to improve the historic site's energy efflciency further In the future. This has been furthered 5UPPQrted by the Introdurtlon of a new envlronmental system for our collection, developed by slte tenant Mldport Scandinavla. Wlder engagement contlnues, lolning the Green Tourlsm and West Midlands Growth Company project offering tourism and hospitality businesses across the region an exclusive opportunity to achleve certlfication to improve sustainability and align with environmental best practice. The Golden Lion Birmingham Conservation Trust IBCTI wa5 approached by Birmingham Clty Council and Hlstorlc England in September 2023 to progress a prolect 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 conseThatlon architects, Ollver Archltecture, to lead on the feaslbillty study for the slte includlng the following. Providing a speclallst assessment of the bulldlng's conditlon, Outlining the extent and costs of paIr and upgrade works necessary to secure a future use. Page 3
BIRMINGHAM CONSERVATION TRUST {REGISTERED NUMBER: 03380637) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Identifying the urgent/essential repairs required to mitigate further short-term decline. Assisting in identlfying viable future uses and understanding the works and costs requlred. Historic England, the William A Cadbury Charitable Trust and the Architectural Heritage Fund have offered grant funding sufficient to deliver the feasibility study and a small programme of emergency repair works to ameliorate the immediate threats to the bullding's securlty and structural integrity. Delivery of the feasibility rtudy will culminate in identifylng three viable optlons for the future of the bullding with one preferred option taken forward to a grant funding stage. The piece of work is expected to be completed in January 2025. At this Stage, the Board of Trustees will consider the p05rtion of the Trust. taklng forward on the basis of adequate risk mitlgatlon, prudent financial consideration and capacity management. Founded in 1977, Birmingham Conservation Trust ha5 evolved and adapted to changing landscapes as part of the wider Buildlng Preservatlon Trust movement and continues to do so. Having established and sustained the Coffin Works site the staff and board position is now such that the relevant governance and commercial sklllsets wlll enable the Increased dellvery of regeneratlon projects once more. re. er ence of he 8ulldln Preservatlon Trust Whilst the Coffln Works contlnues to go from strength to Strength, testament to the tireless work of staff and volunteers. 5UPPOrt from the wider community cannot be underplayed in recoBnlslng thls resillence and sustalnabllity, This community support has been further evldence by en838ement wlth the Golden Lion feasibllity consultation and funding efforts. The charlty's staff team and their efforts 15 at the heart of this success cannot be taken for granted. A5 well as pushing forward, they have also honed the day-to-day runnlng of the museum and made a concerted effort to grow meeting room bookSn85, hospitalbty revenue and expand on group visits. The Board extent5 Its thank5 to the project team including Chris Rice and Irene de Boo, whose passion and commitment to thls project has pushed It forward. The bedrock of the Trust'5 performance, the Coffin Works contlnues to be led by a passionate Museum & Trust Dlrector and three Volunteer & Operations Co-ordinators. They are supported by a dedicated team of 80 volunteers consistlng of students, graduates, retlrees, unemployed and those In part and full-time employment. We pride ourselves on creating volunteerlng pathways for all and, in particular, our partnershlp5 wlth schools and unSversltles means that we have a young and diverse group of volunteers. In fact, our programme has been recoenised natlonally for both its diversity and retentlon. In return we deliver one of the best vlsitor experSences In the West Midlands. Equally, our tenanted spaces are full and rental income is at it5 highest. In July 2024 we said goodbye to our longest standing tenant, Levells, but we welcomed new tenants, Mldport Scandinavia, a technical software company who are working closely wlth us to use thelr expertlse In Improvlng our envlronmentsl monltorlng for the museum. Marketln and Ex osure The Coffin Works is at the helm of promotlng and championing Birmingham's heritsge, a5 an attractlon that has conslstently remained in the 'Top 5 Things to do In Blrmlngham, for the last 10 years. The Museum is also Ideally sltuated near the heart of Birmingham city centre and has a key opportunity to capltalise on the footfall from the Paradise redevelopment and adjacent development5, on the doorstep of the Museum. Featvres on televlslon have continued, including 8BC West Midlands coverage for Tourism Week, and a5 footage for BBC Masterchef. The Golden Lion has a150 achieved Significant TV, news and wider media coverage as a result of the ongoing project to rescue the slte and dellver a viable re-use. us Grant Fundin and Im roved Environmental Conditions As is consistently the case, the Trust has secured significant grant fundlng from external sources to improve both resilience and address going concerns. Notably, the securing of Garfield Weston Foundation multi-year grant fundlng for maintenance costs was successful. providing a greater degree of resllience to the ongolng repair needs in management of the Grade Il* asset. Growin Volunteer Team The volunteer team now numbers 80 people wlth that team contributing an equivalent resource of three full-time members of staff. As part of a growing team we recognise the importance of keeping everyone healthy which is why the staff team are now all trained as 'Mental Aid First Aiders,. This training was thanks to the grant funding of our wellbeing project funded by Midlands Museum Development and ha5 allowed for a programme of activities focussing on improving and managing mental health. Thi5 ha5 now paved the way for prloritlslng ongolng activities all year round as part of our workplace culture. Page 4
BIRMINGHAM CONSERVATION TRUST (REGISTERED NUMBER: 033806371 REPORT OF THE TPUSTEE5 FOR THE YEAR ENDED 31 MARCH 2025 As an organisation that relies on volunteers to open its door, we understand that they are the lifeblood of our museum. Thls is why we pride ourselves on the level of support, care and mentoring we provide. We believe that a happy and healthy environment breeds passlon and goodwlll and the latter Is the bedrock of our organi5ation. In recognition of the importance of volunteers to the running of our Mijseum we are increasing our organisatlonal resllience through hosting three Volunteer Recruitrnent Day5 annually. The majority of our volunteers 'find us, whichls a fortunate position to be in and our online soclal medla presence cannot be underestimated In promoting that, but now we are actively recruitlng volunteers through 'call outs,. staff Team The Birmingham ConseNatlon Trust team has excelled In thelr dutles over the course of the period wlth staff member5 taking on professional development and applying new skills across a broad range of funded and core prograrnmes. The staff team has continued to deliver the commercial and social outputs of the Trust wlth slgnlflcant success, with the team Increaslng Its skllls across areas includlng fundralslng and project dellvery. Delivering a broad range of events and communlty programming, the commercial tenant and h05Pltality operations of the Coffln Works slte, along51de the ongoing management and maintenance of the accredited museum and collections, has achieved a successful year both operatlonally and financiallv. In partlcular, the Board applauds the ongoing commitment and impact of Sarah Hayes who, havlng adopted the enhanced posltion as Trust and Museum Director durlng the previous financial year, who has driven the Trust forward In Its role as the clty's active Bullding PreseNation Trust. Establlshlng necessary succession planning as part of wlder buslness functions, the enhanced activlty of the Trust has balanced core operation and revenue needs of the prlmary Coffln Works slte alongslde Impact for heritage and communitles in the development of the Golden Lion project, The Board of Trustees The Board welcomed multSple new trustees wlthln the year, notably providing the skills and experience to 5UPPOrt Trust staff Sn the progress future ambitions, both for the Coffin Works, ongoing growth and the emerglng Golden Llon project. With experience now representatlve across publlc, prlvate and charltv sector organI5atlons, with a broader range of professlonal quallflcatlons and experlence, the Board Is confldent In Its role to steward the Charlty Into the future. Subsequently, the transition In membershlp of the Board, wlth a range of new trustees joining the Trust, is provldlng for the broad range of experience and skillsets necessary for prudent management and ongolng sustalnablllty. FINANCIAL REVIEW Financial positlon The Ststement of Flnanclal A¢tlvltles for the year ended 31 March 2025 shows Incoming resources for the year totalllng £336,906 12024.. £184,361) and resources expended totalllng £255,02512024: £193,782), Net incoming resour¢e5 for the year ended 31 March 2025 amounted to £81,88112024.' net outgolng ScUrceS £9,421). As a result, the charlty's total funds have increased from £1,525,571 as at 31 March 2024 to £1,607,452 a5 at 31 MaTch 2025 of which £94,75512024.' £66,293) was unrestrlcted. Restrlcted funds totalling £1,512,697 as at 31 March 202512024: £1.459,2781 continues to be compr15ed mainly of restricted fixed a55ets and heritage a55ets. ReseThes pollcy It Is the pollcy of the trustees to maintaln a level of reserves sufficlent to ensure the continued operation of the charlty's actlvitles. Page 5
BIRMINGHAM CONSERVATION TRUST (REGISTERED NUMBER: 033806371 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 FUTURE PLANS Wlth Birmingham ConseThation Trust's pandemlc recovery and push to lead building preservation projects in the city once agaln, our aspirations for the future are clear to see. Emergence from the Covid-19 pandemic and its impact on the wlder sector cannot be underestimate, and the efforts of all parties. including the support of external stakeholders, has enabled the necessary resilience to take Birmingham Conservation Trust foThvard. 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 revlewlng structuring and undertaking a benchmarking exercise means that we are prlorltlslng staff growth and ensuring we have the right resource at the helm to push our organisation fon¥ards whilst supportlng the growth of staff s roles and responsibilities. The Trust, havlng cemented Its sustslnablllty operatlng the Coffln Works site. and with the recrultment of new Board members, Is now placed to progress as a Building Preservation Trust, actively identifylng and dellvering projects as a strateglc partner of cholce for the wider public sector. Bullding new skillsets and experience within the current team. the Golden Llon project will provide the flrst test case and enable the Trust to diversify and expand its portfolio of schemes to create an Increasingly reslllent business model of multlple income streams. External Investment is a key driver of this and we were re¢ently awarded a student tralneeshlp grant of £9,200 by Art Fund to support two new Heritage Engagement Interns between January 2025 and December 2025. Thls wlll support museum actlvltles of 10 hours per week, spllt across two shlfts between Wednesday to Sundav. Gold Lio The successful feasibility project formed the basis of the next phase of the project emergency repair5. Followlng a successful funding bid, wlth the Trust subsequently awarded £344,265 grant via the Historic England - Heritage at Risk Capltal Fund, in partnership with Birmingham City Councll. With fvndlng now In place, the focu5 wlll move from plannlng to delivery, and vital repalr work can now begin for the next financial year. The Golden Lion's condition and vulnerable setting present obvlous challenges, but also excitlng Potential about Its future. Thls next phase wlll focus on stabilising the structure, repairing historic fabrlc, and safeguarding the buildlng's future, with the ultimate goal of bringing the Golden Llon back Into meaningful publlc use. hail We continue to revlew our alms, objectives and activlties each year, looklng at what we achieved and the outcomes of our work In the previou5 12 months. For Trust development durlng the year ended 31 March 2026 we Intend to Implement the followlng. Q)ntinue to develop the Coffin Works site as it enters its second decade of operatlon. Bulld a full and proper understandlng of the scope of the Golden Llon prolect and identlfy the suitable solutions to take the scheme forward, pendlng evldenced viability. Establlsh a forward plan and assoclated buslness plan to capltallse upon the new momentum for the Trust in its role as an active Buildlng Preservation Trust. STRucfuRE, GOVERNANCE ANO MANAGEMENT Governlng document Birmingharn Conservatlon Trust Is a company limited by guarantee Ire8iStered number 033806371 whlch was incorporated on 29 May 1997 and achieved charltable status on 27 June 1997 (registered number 10631241. The charity wa5 established under a Memorandum of Association which established the objects and powers of the charity and Is governed under its Articles of A550ciation. In the event of the charity belnE wound up members are required to contribute an amount not exceedlng £10. Recruitment and appointment of new trustees As set out in the charity's Articles of Associatlon new trustees are appointed by the Board of Trustee5 after applying to the charity in the form required by the trustees and after being approved by the Board of Tru5tee5. All trustees glve their time voluntarlly and recelve no beneflts from the charity. Any expenses reclaimed frorn the are charlty set out in the notes to the financial statements. Page 6
BIRMINGHAM CONSERVATION TRUST (REGISTERED NUMBER: 03380637) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure The management and control of Birmingham ConseNation Trust Is vested In its governlng body, a Board of Trustee Directors of up to 13 members. The Board has formal sub-committees.. Coffln Works Management, Plannln8 and Development, Finance and Financial Stablllty and Health and Safety. Workin8 8roup5 are formed as and when required to undertake specific tasks. Birmlngham Conservatlon Trust staff lor the year ended 31 March 2025 Coffin Work5 and Museum Director - Sarah Hayes Volunteer and Operations Co-ordinator manoger Claire McGibbon Volunteer and Operatlons Co-ordlnator Emma Barran-scott Volunteer and Operations Co-ordinator Megan Ward Volunteers Volunteers form the backbone of the charity's visitor experlence at the Coffln Works, chiefly providing valuable front-of-house 5ervi¢es, tour guidin& room enablln& collections care and research. All new volunteers recelve in person tralnlng and an Inductlon pack. Inductlon and tralnlng of new tTUStees All new trustees recelve an inductlon pack contalnlng a copy of the charlty's Memorandum and Artl¢les of Assoclatlon, draft buslness plan, annual report and financlal statements and supportlng documentatlon from the APT Guldance Notes for bulldlng preseNation tnjsts. Rlsk mana8em¢nt The Trustees have a duty to identify and revlew the risks to which the charity is exposed and to ensu appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees also examine the major strateglc, busSness and operational risks that are assoclated with undertaking each project. Systems are in place to enable regular reports to be produced so that the necessary steps can be taken to manage these r15k5. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 03380637 (England and Wales) Re8lstered Ch•flty number 1063124 Reglstered offlce The Coffln Works 13 - 15 Fleet Street Blrmingham B3 IJP Trustee5 A M French J W Hanson T R Hasker-sarchet K Jarrett D K Matharu BJ Parker OrJMWall R A Wilson-styles - re51gned 14 Au8U5t 2024 appolnted 30 August 2024 - appoSnted 24 September 2024 appolnted 14 August 2024 - appointed 14 August 2024 Page 7
BIRMINGHAM CONSERVATION TRUST (REGISTERED NUMBER: 033806371 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 REFERENCE AND ADMINISTRATIVE DETAILS Independènt Examiner J W Hlnks LLP Chartered Accountants 19 Highfield Road Edgbaston Birmingham West Midlands BI538H Bankers Co-operative 8ank 18alloon Street Manchester M60 4EP Thls report has been prepared In accordance wlth the 5peclal provlslons of Part IS of the Companles Act 2006 relatlng to small companles. Approved by order of the board of trustees on 10 December 2025 and slgned on Its behalf by.. B J Parker- Trustee Page 8
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BIRMINGHAM CONSERVATION TRUST Independent examiner's report to the trustees of Blrmln8ham Conservation Trust I'the Company'l I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responslbllltle5 and ba51s (rf report As the charity's trustees of the Cornpany land also its dirertors for the purposes of company lawl you are re5ponslble for the preparation of the accounts in accordance wlth the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfled myself that the accoLrnts of the Company are not requlred to be audited under Part 16 of the 2006 Art and are eligible for independent examlnation, I report in respect of my e¥amination of your charity's accounts as carried out under Sectlon 145 of the Charltles Act 20111'the 2011 Act'l. In carrying out my examlnatlon I have followed the DSrectlons glven by the Charlty Commlssion under Sectlon 145151 Ibl of the 2011 Act. Independent examlner's statement Slnce your charity's gro55 income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am oualifled to undertake the examinatlon because l am a member of the Institute of Chartered Accountant5 In England and Wales, whlch is one of the Ilsted bodies. I have completed my examlnation. I conflrm that no matters have come to my attentlon In connection with the examlnatlon gfvlng me cause to believe.. accounting record5 were not kept in respect of the Company as required by Sectlon 386 of the 2006 Act,. or the accounts do not accord wlth those records. or the accounts do nor comply with the accountlng requlrements of Sectlon 396 of the 2006 Act other than any requSrement that the accounts glve a true and falr vlew which is not a matter consldered as part of an independent examlnatlon,. or the accounts have not been prepared In accor(lance wlth the methods and principles of the Statement of Recommended Practice for accountlng ond reporting by charities lappllcable to charitie5 preparlng thelr account5 In accordance with the Financial Reportlng Standard appllcable In the UK and Republlc of Ireland IFRS 10211. I have no concerns and have come across no other matters In connectlon with the exomlnatlon to which attention should be drawn in this report In order to enable a proper understandSng of the accounts to be reached. Peter Smith FCA J W Hlnks LLP Chartered Accountants 19 Highfleld Road Edgbasto Birmlngham West Midlands 815 3BH 10 December 2025 Page 9
BIRMINGHAM CONSERVATION TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted fund Restricted funds Notes INCOME AND ENDOWMENTS FROM Donation5 and legacies 10,113 2,106 12,219 8.322 Charitable actlvltles Charitsble actlvitles 68,212 173,126 141,338 105,140 Other tradlng actlvltles Investment income 17,227 66,122 17,227 66,122 9,449 61,450 Total 161,674 175,2a2 336,906 184,361 EXPENDITURE ON Charltsble artlvltl•$ Charitable activlties 196,342 58,683 255,025 193,782 NET INCOMEIIEXPENDITUREI Transfers between funds 134,6681 63,130 116,549 (63,1301 81,881 19.4211 21 Net movement In fund5 28A62 53,419 81,881 19,421) RECONCILIATION OF FUNDS Total funds brought forward 66,293 IN59,278 1,525.571 1.534,992 TOTAL FUN05 CARRIED FORWARD 94,755 1,512,697 1,607,452 1,525,571 The notes form part of these financial ststements Page 10
BIRMINGHAM CONSERVATION TRUST {REGisfERED NUMBER: 03380637} BALANCE SHEET 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestritted fund Restricted funds Notes FIXED ASSETS Tangible assets Heritage a55et5 Investrnents Investments Investment property 14 15 16,302 732,481 750,454 748,783 750N54 700,583 750,454 16 17 15 15 15 16,317 IA82,936 IA99,253 1,451,053 CURRENT ASSETS Debtors Prepayments and accrued Income Cash at bank 18 7,724 7,621 80,672 4,480 12,204 7,621 109,313 4,596 7,361 83.579 28,641 96,017 33,121 129,138 95,536 CREDITORS Amounts falling due wlthln one year 19 {17,5791 (3,3601 120.939) 121,0181 NET CURRENT ASSETS 78,438 29,761 108,199 74,518 TOTAL ASSEfs LESS CURRENT LIABILITIE5 94,755 1,512,697 1,607,452 1.525,571 NET ASSETS 94,755 1.512,697 1,607,452 1,525,571 FUNDS Unrestricted fund5 Restrlcted funds 21 94,755 1,512,697 66,293 1,459,278 TOTAL FUNDS 1,607.452 1,525,571 The charltable company Is entltled to exemption from audit under Section 477 of the Companie5 Act 2006 for the year ended 31 March 2025. The members have not requlred the company to obtaln an audit of Its flnancial statements for the year ended 31 March 2025 in accordance wlth Sectlon 476 of the Companles Act 2006. The trustees acknowledge thelr responslbllltles for lal ensuring that the charitable company keeps accountlng records that comply wlth Sectlons 386 and 387 of the Companles Act 2006 and preparing financlal statements which give a true and fair view of the state of affairs of the charitable company a5 at the end of each flnancial year and of Its surplus or deficit fof each Pinancial year In accordance with the requirements of Sections 394 and 395 and which otherwise comply wlth the requlrements of the Companies Act 2006 relatlng to flnanclal statements, so far as applicable to the charitable company. Ibl The notes form part of these flnanclal statements Page 11 contlnued...
BIRMINGHAM CONSERVATION TRUST (REGISTERED NUMBER: 03380637) BALANCE SHEET- continued 31 MARCH 2025 These financial ststements have been prepared in accordance with the provisions applicable to charitable companies 5ubjert to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for Issue on 10 December 2025 and were signed on its behalf bv: B J Parker- Trustee The notes form part of these financial Statements Page 12
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES GENERAL INFORMATION Blrmlngham Conservatlon 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. BASIS OF PREPARATION The financial statements of the charltyi which is a publit benefrt entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 "Accountlng and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financlal Reportlng Standard appllcable In the Unlted Kingdom and Republlc of Ireland IFRS 1021 leffective l January 20191" Financial Reporting Standard 102 "The Financlal Reporting Stsndard applicable in the UK and Republ1¢ of Ireland", the Companies Act 2CN)6 and the Charitie5 Att 2011, The financial statement5 have been prepared uslng the hlstorlc cost conventlon and are presented In sterllng whlch Is the functlonal currency of the Association, rounded to the nearest £1. The significant accounting policies applled in the preparatlon of these flnanclal ststements are set out below. These pollcles have been con515tently applbed to all years presented unless otherwlse stated. FINANCIAL REPORTING STANDARD 102- REDUCED DISCLOSURE EXEMPTIONS The charlty has taken advantage of the following dlsclosure exemptlon in preparing these flnanclal statements as permltted by FRS 102 'The Flnanclal Reportlng Standard applicable in the UK and Republlc of Ireland" the requlrement of Section 7 Statement of Cash Flows. COMPANY STATUS The charity is a company Ilmited by guarantee. In the event of the charity being wound up the liablllty In respect of the guarantee 15 Ilmlted to £10 per member of the charity. GOING CONCERN The flnanclal statement5 have been prepared on a golng concern basls as the trustees belleve that no materlal uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorislng these flnancial statements. The expected level of Income and expendlture Is 5ufflclent wlth the level of reserves for the Association to be able to continue as a going concern, INCOME All income is recognised In the Statement of Financial Activities once the charity has entitlement to the funds, it Is probable that the Income wlll be recelved and the amount can be measured rellably. For donations to be retognised the charity will have been notlfied of the amounts and the settlement date. If there are condltions attached to the donation and this requires a level of performance before entltlement can be obtained then income Is deferred untll those condltions are fully met or the fulfllrnent of those condStions Is within the control of the charity and it is probable that they wlll be fulfllled. Income from trading actlvltles Includes income earned to raise funds for the charity. Income is received in exchange for supplylng goods and services in order to raise fund5 and Is recogni5ed when entitlement ha5 occurred. The charlty receives grants frorn other third parties in respect of Its actlvitles. Grants receivable from other thlrd parties are recognlsed at fair value when the charity has entitlement after any performance condition5 have been met, it is probable that the income wlll be recelved and the amount can be measured reliably. If entitlernent Is not met then these amounts are deferred. Investment Income Is earned through holding a55ets such as cash on dep051t and from rental income. It include5 interest receivable. Interest income is recognised using the effettlve Snterest rate method and is recognlsed as the charlty's rlght to receive payment 15 e5tabli5hed. Rental incorne is recognised when entitlement has occurred. EXPENDITURE Expenditure 15 recogni5ed once there is a legal or constructlve obllgatlon to transfer economic beneflt 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 reliablv. Page 13 contlnued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES- continued EXPENDITURE Expenditure is classified by actlvlty. The costs of each attivity are made up of the totsl of direct cost5 and shared costs including 5UPPOrt costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated dlrectly to that actlvlty. Shared costs which contribute to more than one activity and support costs which are not attributable to a slngle actlvlty are apportloned between those activities on a basis consistent with the use of resources. Central staff cost5 are allocated on the basls of tlme spent and depreclatlon charges allocated on the portlon of the asset's use, Support costs afe those costs Incurred dlrectly In support of expenditure on the objects of the charity and Include proJe¢t management. Governance costs are those costs incurred in meetlng the compliance requirements In connectlon with the operation of the charlty as an entltv. TANG18LE FIXED A55ET5 Tanglble fixed assets are carrled at cost, net of depreciatlon and any provlslon for Impalrment. Depreclation Is provlded at rates calculated to write off the cost of flxed assets, less their estimated residual value, over their expected useful Ilve5 on the following base5. Freehold property Office equlpment Computer equipment over 60 years. over 15 years. over 10 years. Freehold ro ert Freehold property held by the charity and not consldered to be a heritage asset is shown in the balance sheet at a depreciated replacement cost being the current Cost of replacing an asset with its rnodern equivalent asset less deductions for physlcal deterioration and relevant forms of obsolescence and optlmisation. HERITAGE ASSETS The trustees conslder both the museum element of the freehold buildings at Newman Brother5 Coff in Fitting Works, and the collections contained wlthln, to be herltage assets. These heritage assets are held in support of the charlty's objective of preserving and enhanclng Blrmlngham's threatened archltectural heritage and promotlng an enjoyment and understandlng of the clty's historic building5. The proportlon of the charlty's freehold bulldlngs that comprlse the Newman Brothers museum Is recognlsed at ¢ost. The trustees deem this policy to be appropriate glven the historic nature of the buildings and the nature of the charity's actlvitles whlch ensures that the buildings are malntalned In an excellent state of repalr to be enloyed by future generations. The relevant proportlon of the freehold buildings has been determlned wlth reference to the footprlnt. It Is the policy of the charity not to capltallse the herltage assets held In the collectlons of the charlty. These Items were elther found within the Newman Brothers Coffin Fltting Works after It was purchased or ore small items that have been donated by formEr ernployees or associates of the previou5 occupant. Whilst the contents of the factory are a fvndamental part of the heritage of the factory and represent a fascinatlng picture of life In a Vlctorlan factory In Birmingham, there 15 little or no commercial value to these Items and they are mostly Irreplaceable. As a result, the trustees believe that any f inancial based valuation would be misleading of the value and significance of the items and, furthermore, the cost of undertaking Such a valuation 15 deemed to outweigh the benefit as the charity would not look to dispose of any Items. No depreciation 15 charged on heritage assets as the a55ets are deemed to have indeterminate Ilves. The trustees will consider at least annually whether there has been any impairment to the carrying value of any capitalised heritage assets. INVESTMENTS Fixed asset Investments are a form of firbancial 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 15 measured at Cost le55 impairment. Investment gains and losses, whether reallsed or unreallsed. are combined and shown in the heading galnslllossesl on investments" in the statement of Financial Activities. Page 14 continued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOLIt4TING POLICIES- contlnued HERITAGE ASSETS CASH AND CASH EQUIVALENT5 Cash and cash equivalents include depo51ts held at call wlth banks and other third partle5 INVESTMENT PROPERTY Investment property relate5 to a parcel of land and Is shown at a nomlnal value. TAXATION The charity is exempt from corporation tax on It5 choritoble activltle5. FUND ACCOUNTING General funds are unrestricted funds which are available for use at the dlscretlon of the tTUStees In furtherance of the general objectlves of the charity and whlch have not been designated for other purpose5 Deslgnated fund5 comprlse unrestricted funds that have been set a51de by the trustees for partlcular purposes. Restrlcted funds are funds whlch are to be usèd in accordance with specific restrictlons imposed by donors or whith have been raised by the charity for particular purposes. The costs of ralslng and admlnlsterlng such funds are ¢har8ed agalnst the 5peciflc fund. Further explanatlon of the nature and PLbrpose of each fund Is Included In the notes to the flnanclal statements. FINANCIAL INSTRUMENT5 The charity only ha5 flnanclal a55ets and flnanclal Ilabllltles of a kind that qualify as ba51c financlal instruments. Basic financial instruments are Inltlally recognlsed at transactlon value and subsequently measured at amortised cost. PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS The charltable company operates a deflned contrlbutlon penslon scheme. Contrlbutions payable to the charltable company'5 penslon scheme are charged to the Statement of Financial Activities In the period to whlch they relate. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY In the application of the charlty's accountlng pollcles, the trustees are requlred to make lud8ements, estlmates and assumptions about the carrying amount of a55et5 and liabillties that are not readlly apparent from other other sources. The estlmates and underlylng assumptions are reviewed on an ongoln8 basls. Revlsions to accountln8 esrlmates are recognised In the perlod In whlch the estlmate is revlsed where the revlsion affects only that period or in the period of the revision and future perlods where the revi51on affect5 both current and future periods, Critical accountlng estlmates are considered to be the valuation of heritage assets and fixed asset Inve5tmentS. DONATIONS AND LEGACIES 2025 2024 Donatlons GiftAid 7,701 4,518 8,322 12,219 8,322 Page 15 continued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOftTHE YEAR ENDED 31 MARCH 2025 OTHER TRADING ACTMTIES 2025 2024 Income from tradlng 17227 9A49 INVESTMENT INCOME 2025 2024 Rentsl Income 66,122 61,450 INCOME FROM CHARABLE ACTIVITIES 2025 2024 Activlty Charltable activities Charitable activltlÈs Museum income Grants rece6vable 68,212 173,126 71,836 33,304 241,338 105,140 Grants recelved, Included in the above, are Is follows. Unfesrted lunds Restrkted funds 2025 2024 Arts Council England- Museums and Estate Development fund 92,264 92,264 Archltectural Heritage Fund Golden Lion Project fund 8,500 8,500 Art Fund- Coffln Works fund 9,152 9,152 Blrmingham Municipal Charlty- Golden Llon Project fund io,cD] io,ofy) Department of Work & Penslons- Coffin Works fund 2,952 952 Garfield Weston Foundatlon - Coffln Works fund 25,OCQ 25.000 Historic England- Golden Llon Project fund 14,247 14,247 16,403 Ironbridge Gorge Museum- West Midlands Museum Coffin Works fund 5,151 s.lsi Ironbridge GorEe Museum- West Midlands Museum Development Ilronbrid8el fund 4,901 Balance carried fOard 167,626 167,626 21,304 Pa8e 16 continued...
81RMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2025 INCOME FROM CHARITABLE ACTIVITIES- continued Unrestricted funds Restrlcted funds 2025 2024 Balance brought forward 167.626 167,626 21.304 Rou8hley Tru5t- Golden Lion Project fund 3,000 3,000 The GrimmittTrust- Golden Ilon Projett fund 2.500 2,500 Wllllam A Cadbury Charltable Trust- General fund 2,000 Wllliam A Cadbury Charltable Trust- Golden Llon Project fund 10,0 173,126 173,126 33,304 CHARITABLE AcfiviTIES COST5 Dlrect Costs Iseo note 81 Support costs (see note 91 Totals Charltable actlvitles 160,489 94,536 255,025 DIRECT COSTS OF CHARITABiE ACTivrriES 2025 2024 Staff costs Exhibitlon costs Equipment and materials Web and graphlc design AdvertSsing 95,435 11,094 48,067 4.654 1,239 83,477 8,694 6,425 5,342 3,677 160,489 107,615 Page 17 continued...
IRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR TrIE YEAR ENDED 31 MARCH 202S SUPPORT COSTS Sundry support costs Maintenan Governance COSt5 expenses Totals Charitable activltSe5 15.978 W18 94536 Support costs. Included in the above, are a5 follt)W5= 2025 Charltable 2024 Total actlvltles Repairs and renewals Staff and volunteer training Insurance 15,978 125 9,070 27,480 8.150 9,514 10,544 5,755 7.160 26,076 Offlce costs Sundry Professlonal fee5 Oepreciation of tanglble fixed assets Examlner's fee5 7,217 4,216 16ml 17,175 2.040 94,536 86,167 io. NET INCOMEIIEXPENDITUREI Net income/lexpendlturel Is stated after char8inyJlcreditlngl: 2025 2024 Depreciatlon- owned assets 17,175 16,891 ii. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneratlon or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. TRUSTEES. EXPENSES There were no tru5tees' expenses pald for the year ended 31 March 2025 nor for the year ended 31 March 2024. Iz. STAFF COSTS 2025 2024 Wages and salarles Soclal seturlty costs Other penslon costs 91,364 2,131 80,626 1,327 1,524 95,435 83,477 The average monthly number of employees during the year wa5 as follows: 2025 2024 Management and administration No employees received emoluments in ex55 of £60,000. Page 18 continued...
BIRMINGHAM CONSERVATION TRUST NOTES TOThE FINANCIAL STATEMEKtS- continued FOR THE YEAR ENDED 31 MARCH 2025 13. COMPARAnVES FOR THE STATEMENT OF FINANCIALAcnviTIES Unrestricted Jnd Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and le83cle5 8.322 8,322 Charftabl• actlv5tSes Charitable activltSe5 73.836 31,304 105,140 other tradlng actlvitles Investment income 9,449 61,450 9,449 61,450 Totsl 153,057 31,304 184,361 EXPENDITURE ON Charltable actSvltles Charltable 3rtivltles 174,030 19,752 193,782 NET INCOMEIIEXPENDITUREI 120,9731 11.552 19,4211 RECONCILIATION OF FUNDS Total funds brought foNard 87,266 1,447,726 1,534,992 TOTAL FUNDS CARRIEO FORWARD 66,293 1,4.59,278 1,525,571 14. TANGIBLE FIXEO ASSETS Freehold propertv Office equipment Computer equlprnent TDta15 COST At l April 2024 Additions 841.619 63,130 42.730 14,606 245 898,955 65.375 At 31 March 2025 904,749 42,730 16.851 964330 DEPRECIATION At l Aprll 2024 Charge for year 169,656 .105 21,988 2.850 6.728 198372 17,175 At 31 March 2025 182.761 24.838 215y7 NET BOOK VALUE At 31 March 2025 721.988 17.892 8.903 748,783 At 31 March 2024 671,963 20.742 7,878 700.583 Freehold property Freehold property consists of the Newman Brothers Coffin Fittin Works and Ss a 8,748 square foot Grade Il. Ilsted former factory sltuated In Fleet Street on the edge of the historfc Jewellery Quarter of Birmingham. The original three 5t0 premises were built in 1894 and 15 a typical example of o late 19 rentury purpose built factory. A two storey wing was added in the 19605 to increase production capacity. Page 19 continued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- tontlnued FOR THE YEAR ENOED 31 MARCH 2025 TANGIBLE FIXED ASSEfs- continued The renovated building contains the Newrnan Brothers Museum which provldès visltors wlth an experlence BSmiinÉham's industrial heritaÈe. the otfices of the Birmingham ConseNation Trust and a number of modem workspaces which are rented outto local members of Blrmln8ham'5 creative community. The proportlon of the freehold property that comprises the rnuseum Is recognlsed at cost and treated as a her(tage asset wlth no depreciation belng charged. The trustee5 deem thls policy to be appropriate glven the hlstorlc natu of the propetty and the naturè of the charlty's activities whlch ensures that the property Is malntalned In an excellent state of repair to be enjoyed by future 8eneration5. Depreciatlon is char8ed on the proportion E)f the freehold property occupied by the charity and its tenants. 15. HERITAGE ASSErs Total MARKEf VALUE At l Aprll 2024 and 31 March 2025 7XIA54 NET BOOKVALUE At 31 March 2025 750.454 At 31 March 2024 750,454 Newman Brother5 Museum The collections maintained by the charity are not capitalised. When the charlty acqulred the Newman Brother5 Coffln Flttin8 Work5 all of the factory's contents were left in situ. Th15 included large quantlties of stock (such as handles, screws, breast plates and shroudsli paperwork (such as sales ledger and catalogue51, orlginal plant and machinery and a range of domestic and personal items. Whilst the contents of the factory are a fundamental part of the herlta8e of the factory and represent a fasclnating picture c*f Ilfe In a Vlctorlan factory in 8lrrningham, there Is Ilttle or no commerclal value to these Items and they are mostly Irreplaceable. As a suIt, the trustees belleve that any flnanclal based valuatlon would be misleadlng to the value and slgnM¢an¢e of the items. Furthermore, the cost of completing such a valuation is deemed by the trustees to outwei8h the beneflt as the charlty would not look to dlspose of any Items. 16. FIXED ASSET INVESTMENTS Shares in group undertaklng5 MARKEfvALUE At l April 2024 and 31 March 2025 15 NET BOOK VALUE At 31 March 2025 At 31 March 2024 15 There were no investment assets outslde the UK. The company's investments at the balance sheet date in the share capitsl of companies include the followln¥.' Page 20 contlnued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANaAL STATEMENTS- ¢ontlnuÈd FOR THEYEAR ENDED 31 MARCH 2025 16. FIXED Ass INVESTMENTS- continued Birmin8ham ConseThatlon Trust ITradin81 Limited Registered office: The Coffin Works, 13-15 Fleet Street, Birmingham, England, B3 IJP Nature of buslness.. Specia112ed construrtlon actNltles Class of share: Ordlnary £1 holding i(K) 17. INVESTMENT PROPERTY FAIR VALUE At l April 2024 and 31 March 2025 NET 800K VALUE At 31 March 2025 At 31 March 2024 Investment property includes a parcel of land. No valuation is available and therefore the land has been Included at a nomlnal value of £1. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors VAT 6,372 5,832 1,803 2,793 12,204 4,596 CREDtfoRS: Amoupifs FALLING DUE WITHIN ONE YEAR 2025 2024 Trade credllors Soclal stcurlty and other taxes Other creditors Accruals and deferred Income 11540 1.85S 11,590 381 7,038 7,042 20,939 21,018 20. LEASING AGREEMENTS Mlnimum lease payments under non-cancellable operating leases fall due as follows. 2025 2024 Wlthln one year Between one and five year5 650 936 650 650 1,586 Page 21 contlnued...
BIRMINGHAM CONSERVATION TRUST NOTESTO THE FINANCIAL STATEMEKfs- continued FOR THE YEAR ENDED 31 MARCH 2025 LEA51NG AGREEMENTS- contlnued Lessor At 31 March 2025 the charity had contracted wlth tenants for the following minimum lease payments. 2025 2024 Wlthln one year Between two and five year5 In more than five years 24,769 17,102 45,424 12,697 41.871 58,121 21. MOVEMENT IN FUNDS Net movement In funds Transfers between funds At 31.3.25 At 1.4.24 Unr•strlct•d fund$ General fund 66,293 134.6681 63,130 94755 Restrfcted funds Coffln Work5 fund West Mldlands Museum Development Ilronbrld8el fund Golden Llon Project fund Museums Estate and Development fund 1,432J88 20A82 1,452mO 71 3,372 92,614 26003 29,775 29,494 163,130) IA59378 116,549 163,130} 1,512,697 TOTAL FUNDS 1,525,571 81.881 1,607,452 Net movement In funds, Included In the above are as follows: Incomln8 resources Resources expended Movement In funds Unrestricted ftinds General fund 161,674 1196.3421 134,6681 Restrlrted fund5 Coffin Works fund West Mldlands Museum Development Ilronbridgel fund Golden Lion Prolect fund Museums Estate and Development fund 4Z,754 122,2721 20.48Z 107 39.747 92,624 1361 136,3751 71 3,372 92,624 175,232 158,6831 116,549 TOTAL FUNDS 336.906 1255,0251 81,881 Page 22 continued...
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIALSTATEMENTS- continued FOR ThE YEAR ENDED 31 MARCH 2025 21. MOVEMETr IN FUNDS- ConAUtd ComparatIv10r movement In fvn(ts Net movement in funds At 31.3.24 At 1.4.23 Unrestrlrted funds General fund 87,266 120,9731 66,293 Re5trlrted funds Coffin Works fund West Mldlands Museum Development Ilronbr(d8el fund Golden Lion Prolect fund 1,447,203 114,8151 1,432,388 523 1361 26,403 487 26,403 1,447,726 11.552 1,459.278 TOTAL FUNDS 1,534.992 19,4211 1.525,571 Comparative net movement In funds, Included In the above are as follows: Incomlng resources Resources expended Movement In funds Unrestrfcted funds General fund 153,057 1174,0301 120,9731 Restrlrted fund5 CoffSn Works fund West Mldlands Museum Development Ilronbridgel fund Golden Llon Prolert fvnd 114,8151 114,8151 4,901 26,403 14,9371 1361 26,403 31,304 119,7521 11,552 TOTAL FUNDS 184,361 1193,7821 19,4211 A current year 12 month5 and prlor year 12 months comblned positson Is as follows.. Net movement in funds Transfers between fund5 At 31.3.25 At 1.4.23 Unrestrlrted funds General fund 87,266 155,6411 63,130 94,755 Restrlrted funds Coffin Works fund West Midlands Museum Development Ilronbridgel fund Golden Lion Project fund Museum5 Estate and Development fund 1,447,203 5,667 1,4S2.870 523 35 29.775 92,624 558 29,775 29.494 163,1301 1,447,726 128,101 163.1301 1,512,697 TOTAL FUNDS 1.534,992 72,460 1,607,452 Page 23 continued.
BIRMINGHAM CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR ThE YEAR ENDED 31 MARCH 2025 21. MOVEMENf IN FUNDS. Contlnued A current year 12 months and prlor year 12 months combined net movement in funds, included in the above a as follows= Incoming resources Resources expended Movement in funds Unre5trfrted funds General fund 314.731 1370,3721 155,6411 Restrlrted funds Coffin Works fund West Mldlands Museum DevplopmÈnt Ilronbridgel fund Golden Lion Project fund Museums Estate and Developryent fund 42,754 137,0871 5,667 5,008 66,150 92,624 14,9731 136,3751 35 29,775 92,624 206.536 178,4351 128.101 TOTAL FUNDS 521.267 1448,8071 72,460 Purpose of Unrestrlcted Funds General ftind Thbs fund represents the free funds of the charlty that are not deslgnated for particular purposes. Pury)ose of Restrfcted Funds Coffin Work5 fund Thls fund represents charity assets to be used for the contlnued operation of the charity's Newman Brothers Museum. Thls fund represents fundlng from West Midland5 Museum Development towards ener8y costs. Pro GoldenLlouiecr fund Thls fund represents fundlng receSved In order to enable the ¢harSty to comm15slon a lead consultant to co.ordlnate and dellver the Golden Lion feaslblllty Study as well as scope and cost a programme of emergency repalrs. useums Estate an4D¢velopment fynd Thi5 fund represents funding received In order for the charlty to implement a number Df envlronmental measures at the chartty'5 Newman Brothers Museum such as the installation of secondary 8lazlng at the front of the mu5eurn buildin8 from the museum shop up to the top floor of the museum buSlding. Thls wlll increase energy effl¢lency and also the comfort of volunteers and visitor5 at the Newman Brother5 Museum. other envlronmental measures fo be funded via thbs fund Include the Installatlon of UV-filterln8 fllm on the north range of the Newman Brother5 Museum to Improve conditions for tenants durlng the warmer months of the year as well as the Installatlon of a wlrelèss envlronmental monitoring system. TRANSFERS BETWEEN FUNDS Transfers between funds as at 31 March 2025 represent movements between the charlty's General fund and certain Indlvldual restrirted funds. Page 24 contlnued.
IRMINGHAM CONSERVATION TRUST NOTESTO THE FINANCIAL STATEMENTS- cont5nued FOR THE YEAR ENDED 31 MARCH 2025 RELATED PARTY DISCLOSURES BlrrnlnKharn Con5ervatlon Trust trradlnKI Llmlted At 31 March 2025 Birmingham Conservatlon Trust wa5 owed £nll 12024: £nlll frDm its dormant 5ubsldlary, Blrmingham Conseryatlon Trust ITradln81 Llrnited. Jack Hanson Durlng the year ended 31 March 2024 Jack Hanson. a trustee of Blmilngham Conservation Trust untll 14 August 2024. provided a brldglng loan to Blrmingham Conservatlon Trust Thls amount wa5 repald In full to lack Hanson by Blrmln8ham Con5ervatlon Trust as at 31 March 2024. No related party transactlons occurred between Blmingham Consewdtlon Trust and Jack Hanson durlng the perfod l Aprll 2024to 14 August 2024. Page 25