Charity Number: 1080606 Company number: 03578992
## **Manchester Historic Buildings Trust**
**Trustees’ report and unaudited financial statements**
**For the year ended 31 October 2025**
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Manchester Historic Buildings Trust Reference and administration information
**Charity number**
1080606
**Company number** 03578992
**Registered office and operational address**
Elizabeth Gaskell’s House, 84 Plymouth Grove, Manchester M13 9LW
**Trustees**
Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:
Alexandra Walker
Dr Emma Jane Liggins (appointed 5 October 2025)
Rana Wulan Rofifah (appointed 28 November 2024)
Rose Palmer (appointed 28 November 2024)
Hannah Jane Riches
Shanna Liane McGoldrick Madeline Carnwath Liza Jane Leonard Katharine Rodwell Dr Diane Duffy
Jane Baxter Amy Boylan (resigned 5 May 2025) Lesley Burn (resigned 23 January 2025)
**Key management personnel**
Sally Jastrebski-Lloyd Museum Director
## **Bankers**
HSBC CAF Bank Co-operative Bank
## **Independent Examiner**
Patrick Morello ACA, Third Sector Accountancy Limited, Holyoake House, Hanover Street, Manchester M60 0AS.
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**Manchester Historic Buildings Trust Trustees report for the year ended 31 October 2025**
The trustees present their annual report together with the unaudited financial statements of the charity and for the year ended 31 October 2025 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The reference and administration details on page 1 form part of this report.
## **REPORTING FRAMEWORK**
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Articles, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019), referred to as the Charities SORP (FRS 102) (second edition – October 2019).
## **Group accounts**
Previously the charity prepared group accounts, consolidating the results of its subsidiary company The Gaskells’ House Trading Limited. As this is not required by law, the trustees have chosen not to prepare group accounts this year, in order to save unnecessary expense.
## **OBJECTIVES**
## **Charitable objects**
The objects of the Charity are:
To preserve for the benefit of the people Manchester and of the Nation, the historical, literary, architectural and constructional heritage associated with 84 Plymouth Grove, Manchester (‘The House’) the former home of William and Elizabeth Gaskell (including any structure or erection, and any part of the building as so defined) and to advance the education of the public in the said heritage and to undertake such other charitable activities as may benefit the people of or visitors to the said County of Greater Manchester.
To acquire, preserve, document, interpret and make accessible exhibits, objects and collections relating to the literary, social and historical impact and influence of Elizabeth Gaskell and her family and to the history of the House through provision of a museum service for the purpose of educating and informing the public.
## **Activities**
The Charity fulfils its objectives through the restoration of Elizabeth Gaskell House and its operation as a museum and visitor attraction.
Elizabeth Gaskell’s House is a restored Grade II* regency style historic House in Manchester, home to the Victorian author Elizabeth Gaskell and her family. It is important because of its association with the writer who lived here from 1850-65, and members of her family who continued to occupy it until 1913. Elizabeth Gaskell was one of the foremost 19th century writers whose work has a continuing appeal and is regularly performed on stage, screen and radio and published worldwide in numerous translations. Her husband William, Minister at Manchester’s Unitarian Cross Street Chapel, and their daughters were deeply involved in the cultural and educational life of the city, so the individual contributions which they each made are all reflected in the way the house is interpreted.
The core activities of the charity are:
- Protecting and promoting the unique literary and cultural heritage of the House and its visitors
- Playing a key role, as the only literary house, in Manchester’s UNESCO City of Literature partnership
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**Manchester Historic Buildings Trust Trustees report for the year ended 31 October 2025**
- Being a unique example of a Victorian middle-class house in Manchester
- Celebrating the life and literature of Elizabeth Gaskell and her relevance today
- Valuing and promoting the Gaskell family’s role in the history of Manchester and Ardwick.
- Supporting local groups, residents and schools to use and value the House and its heritage.
## **ACHIEVEMENTS**
In October 2024 we reached the 10-year anniversary of opening to the public following the restoration of the House to reflect how it would have been when the Gaskell family lived in it, and to present information about Elizabeth Gaskell and her work. Between October 2024 and October 2025, we marked the anniversary with special displays and activities.
During the year:
- We welcomed 5,471 visitors to the House overall, an increase of 9% compared with the previous year.
- We delivered 43 online talks, workshops, discussions, book groups and tours, with 2,166 participants over the year.
- We gave 33 private tours to groups and secondary schools.
- We welcomed 13 primary school sessions, including 4 sessions from primary schools in the M13 postcode area.
- We hosted 19 weddings
- We continued our 10-year anniversary celebrations for 2024/25 to October 2025.
Satisfied visitors and the quality of the visitor offer are vital to the ongoing success of the House. We are committed to maintaining a high level of customer care and providing ongoing training opportunities for all staff and volunteers and making physical improvements in terms of access and interpretation. We regularly ask our visitors and online audiences what we can do better and strive to make these changes where we can. Our TripAdvisor score is 4.7 out of 5, and our score on Google Business is 4.7 out of 5, with visitors remarking on both the quality of the House as a museum and the warm welcome from our knowledgeable volunteers. Our own research shows 80% of visitors rate their experience as excellent and 90% rate the welcome from volunteers and staff as excellent.
We scored 88% in our 2025 Visitor Attractions Quality Assurance Scheme (VAQAS) inspection from Visit England. This inspection scheme looks at everything from pre-visit information online to the cleanliness of the toilets, as well as general customer service. All the areas were scored very good or excellent. This led us to receive a Hidden Gem award from Visit England.
The number of visitors coming to the House as part of a private tour increased significantly this year and now makes up 13% of our visitors.
Our on-line programme, launched during the pandemic, continues to be popular with talks attracting participants from all over the UK and from Europe and North America. Recordings of the talks are available to buy from our website.
The Tea Room development group which consists of staff and volunteers, continues to explore ways to increase spend whilst maintaining high standards of hygiene and food safety. We trial new shop stock including jewellery, prints and new book editions. The monthly second-hand book sales continue to do well. The average secondary spend across all visitors rose to £6.67 with the average transaction being £9.92.
Our 10-year anniversary exhibition, _From Dereliction to Delight,_ which opened in October 2024 told the story of how the House, as one of Manchester’s most important historic cultural venues, was saved. The
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## **Manchester Historic Buildings Trust Trustees report for the year ended 31 October 2025**
exhibition explored the building’s restoration and launch as a cultural attraction and continued to late 2025.
During 2025 we partnered with City of Literature to deliver our inaugural Young Writers’ residencies. Three young writers worked to create original poems and stories inspired by the experience of visiting the House and learning about Elizabeths Gaskell’s life and work. This resulted in an exhibition which featured in the Manchester Central Library in June before being installed in the House. During 2026 the exhibition will tour libraries throughout Greater Manchester and Cheshire. We published a book of the work produced by the writers.
Friends of Elizabeth Gaskell’s House were invited to sponsor books with an individual donation to cover the cost of much needed repairs. The repaired books are on display with bookplates in the Study for all visitors to access.
A quinquennial review of the building, carried out in 2024, gave us an indication of works likely to be needed to be carried out in the next few years. We successfully applied for a grant from the Pilgrim Trust which will enable repairs to gutters and stair carpets to be carried out at the start of 2026.
In 2025 we carried out an Organisation Health Check with Museums Development North and worked with an external consultant to look at how we can improve the financial sustainability of the museum. This led to the preparation of an Interim Forward Plan for the next 18 months and an application to the National Lottery Heritage Fund for a sustainability programme including a 5-year business plan and fundraising strategy for which we are currently awaiting a response.
## **Partnerships**
Manchester was designated a City of Literature by UNESCO in 2017. During 2025, we partnered with Manchester City of Literature to deliver our inaugural writers’ residency. We are part of the Literary Houses Association and in 2025 we hosted their annual conference which looked at the experiences and expectations of Gen Z visitors to museums. We are a partner in the Oxford Road Corridor network and participated in the Oxford Road Cultural Welcome week in October 2025 including a Women of Oxford Road walking tour. In partnership with Kids in Museums and Walker Books, we created a Hidden Wonders Hunt and crafts activities for kids during October half term. We continue to support the Trailblazing Women of Greater Manchester working group with access to meeting spaces and displays in the House. We work with University of Manchester and Manchester Metropolitan University as contributors to our events programme and loans of exhibition material.
## **Public benefit**
The Trustees take into consideration the Charity Commission guidance on public benefit, especially in relation to setting entrance fees and making the services that we offer more accessible. In addition, the Trustees are committed to delivering a range of education and outreach activities. We aim to work towards broadening the audience base and generating additional income which will contribute to long term sustainability. A sustainable operation will ensure that the public benefits which the project has generated will continue in future years. The programme of paid-for on-line talks are expected to remain popular. We have taken a business case decision to stop hosting weddings from 2026.
## **Contribution of volunteers**
The house continues to depend upon its loyal team of approximately 40-50 volunteers who give up their time to be room guides, staff the tearoom, garden, take part in conservation activities, support school groups, deliver online talks, carry out maintenance of the building and more. After receiving a Gold Britain in Bloom award in the Small Visitor Attraction category in 2024, we look forward to participating in the National Gardens Open to the Public scheme in 2026 thanks to our volunteer gardeners.
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## **Manchester Historic Buildings Trust Trustees report for the year ended 31 October 2025**
Our volunteer manager continues to improve recruitment, induction processes and volunteer development opportunities to ensure volunteers have a fulfilling experience and provide an effective service. Many volunteers have worked in the House for years but we also provide micro-volunteering opportunities as a way to make our volunteering more accessible and to help us fill gaps in specific roles. These are especially popular for younger volunteers. We provide several employer-supported volunteering (ESV) places and host a student placement with Manchester College, as part of their internship programme supporting young people with learning disabilities. We also welcomed volunteers from University of Manchester and Manchester Metropolitan University both on structured placements and as standard volunteers.
Our annual volunteer survey reports very positively on the overall volunteer experience and in February we held a special 10-year anniversary thank you celebration for volunteers.
## **FINANCIAL REVIEW**
## **Overview**
The group had a surplus on unrestricted general funds, before transfers, for the year of £ 7,538.
The subsidiary has continued to operate Gaskell House and has borne an appropriate share of the costs.
## **Risk management**
The Trustees regularly review and asses the risks faced by the charity and a risk register is maintained to plan for the management of those risks.
## **Reserves**
The Trustees regularly re-assess the need for reserves, considering the current risk factors and the latest guidance.
The charity deems it is necessary to hold back some funds as reserves in order to cover unforeseen emergencies or other unexpected needs for funds, unforeseen day-to-day operational costs, to give time to take action if income levels fall below expectations, to cover any planned commitments that cannot be met by future income alone, to cover the need to fund short-term deficits in the cash budget and also to maintain a building maintenance fund.
Given the scale of the charity's operation and the risks that it faces, the Trustees consider that the required level of free reserves, that is unrestricted funds not invested in fixed assets or otherwise designated, (also referred to as general fund within financial statements) should be a minimum of £70,000.
At 31 October 2025, free reserves (general fund) are £ 90,484 and total designated funds are £2,688,454. The designated funds include the carrying value of the fixed assets, as described in note 17.
## **Going concern**
The Trustees consider that the Charity will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved, supported by detailed cash flow forecasts for the coming year.
The Trustees recognise that additional income sources must be developed to ensure the museum can continue to operate beyond this period and work is being undertaken to achieve this.
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**Manchester Historic Buildings Trust Trustees report for the year ended 31 October 2025**
## **FUTURE PLANS**
We are awaiting the outcome of an application to National Lottery Heritage Fund for sustainability funding including funding for business planning, a fundraising strategy and activities and a lighting arts installation to mark the 10-year anniversary of the UNESCO City of Literature in 2027. We also intend to build on the successful writers’ residency with further creative opportunities.
In the meantime, we are working to our interim forward plan with the following objectives -
1. To grow our income and ensure efficient running costs to secure our financial sustainability
2. To grow and diversify our audiences that connect with the works of Elizabeth Gaskell and her place in Manchester’s literary and social history
3. To maintain and develop our organisational standards.
## **STRUCTURE GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated June 10 1998, as amended by special resolution dated September 19 2020. It is registered as a charity with the Charity Commission.
## **Members of the company**
Those eligible for membership of the company are the original subscribers to the Articles and “such other persons or corporations as may desire to be admitted to membership and who are elected by the Governing Body”. There are currently 130 members of the company, none of which are corporations, each of whom agrees to contribute a sum not exceeding £1 in the event of the charity being wound up.
## **Appointment of Directors and Trustees – The Governing Body**
The Directors, who are the Trustees, are collectively known as the Governing Body. They are appointed either by the Governing Body or by the members in general meeting.
One third of the Trustees retire by rotation each year, being the longest in office and are eligible for reelection. Only those retiring by rotation or those nominated by the Governing Body are eligible for election unless a member gives not less than fourteen and not more than sixty days written notice (delivered to the Company’s registered office) of their intention to stand or propose someone else for election (who has also confirmed in writing their willingness to be elected).
## **Trustee recruitment, induction and training**
Trustees are recruited for their individual skills, experience and expertise and usually have an interest in the Gaskells, either through Elizabeth’s writings or William’s religious and social work (in which he was supported by the rest of the family) and/or an interest in promoting the house as a community, arts and cultural venue.
Trustees are made aware of the resources available on the Charity Commission website.
## **Organisation**
The Governing Body, which must not be less than five members or more than fifteen, administers the Charity and meets as necessary, now bi-monthly. Responsibility for day-to-day management is delegated to the House Director.
## **Related parties**
Details of related party transactions are given in the notes to the financial statements.
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**Manchester Historic Buildings Trust Trustees report for the year ended 31 October 2025**
## **STATEMENT OF RESPONSIBILITIES OF TRUSTEES**
The trustees (who are also directors of Manchester Historic Buildings Trust for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.
29 / 05 / 2026 The trustees’ annual report has been approved by the trustees on _____________ and signed on their behalf by:
Alexandra Walker, Trustee
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**Independent Examiner’s report to the trustees of Manchester Historic Buildings Trust For the year ended 31 October 2025**
I report on the accounts of the charity for the year ended 31 October 2025 set out on pages 9 to 21.
## Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention.
## Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## Independent examiner's statement
In connection with my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Patrick Morrello ACA
Third Sector Accountancy Limited Holyoake House Hanover Street Manchester M60 0AS
## Date
29 / 05 / 2026
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## Manchester Historic Buildings Trust
Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 October 2025
|Note
Income from:
Donations, legacies and grants
3
4
Investments
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
8
Transfer between funds
Net movement in funds for the year
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Net income/(expenditure) for the year
Other trading activities|Unrestricted
funds
£
92,786
10,217
213
103,216
2,151
93,527
95,678
7,538
2,593,563
2,601,101
87,354
2,688,455|Restricted
funds
£
31,597
-
-
31,597
_-_
31,952
31,952
(355)
(2,593,563)
(2,593,918)
2,593,563
(355)|Total funds
2025
£
124,383
10,217
213
134,813
2,151
125,479
127,630
7,183
-
7,183
2,680,917
2,688,100|_Unrestricted_
_funds_
_£_
_13,744_
_6,000_
_290_
_20,034_
_3,159_
_111,641_
_114,800_
_(94,766)_
_-_
_(94,766)_
_182,120_
_87,354_|_Restricted_
_funds_
_£_
_1,045_
_-_
_-_
_1,045_
_-_
_13,832_
_13,832_
_(12,787)_
_-_
_(12,787)_
_2,606,350_
_2,593,563_|_Total funds_
_2024_
_£_
_14,789_
_6,000_
_290_
_21,079_
_3,159_
_125,473_
_128,632_
_(107,553)_
_-_
_(107,553)_
_2,788,470_
_2,680,917_|
|---|---|---|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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## Manchester Historic Buildings Trust Company number 03578992
## Balance sheet as at 31 October 2025
|Note
£
£
Fixed assets
Tangible assets
12
2,585,920
Investments
13
10
Total fixed assets
2,585,930
Current assets
Debtors
14
26,025
Cash at bank and in hand
85,012
Total current assets
111,037
Liabilities
Creditors: amounts falling
due in less than one year
15
(8,867)
Net current assets
102,170
Net assets
2,688,100
The funds of the charity:
Restricted income funds
16
(354)
Unrestricted income funds
17
2,688,454
Total charity funds
2,688,100
2025|_£_
_£_
_2,598,707_
_10_
_2,598,717_
_22,037_
_81,903_
_103,940_
_(21,740)_
_82,200_
_2,680,917_
_2,593,563_
_87,354_
_2,680,917_
_2024_|
|---|---|
For the year in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in
- accordance with section 476 of the Companies Act 2006,
- The directors acknowledge their responsibilities for complying with the requirements of the Act with
- respect to accounting records and the preparation of accounts.
These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
The notes on pages 11 to 21 form part of these accounts.
29 / 05 / 2026 Approved by the trustees on ______________ and signed on their behalf by:
Alexandra Walker (Trustee)
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Manchester Historic Buildings Trust
Notes to the accounts for the year ended 31 October 2025
## 1 Accounting policies
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## a Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Manchester Historic Buildings Trust meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £ sterling.
## b Judgments and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## c Preparation of the accounts on a going concern basis
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
## d Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
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Manchester Historic Buildings Trust
## Notes to the accounts for the year ended 31 October 2025 (continued)
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset
Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
## e Donated services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## f Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## g Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
- h Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds comprise the costs of commercial trading including £26,367.
- Expenditure on charitable activities includes the costs of £102, 427 undertaken to further the purposes of the charity.
- Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
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Manchester Historic Buildings Trust
Notes to the accounts for the year ended 31 October 2025 (continued)
## i Operating leases
Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.
## j Tangible fixed assets
## Functional tangible fixed assets and depreciation
Individual functional fixed assets costing more than £1,000 are capitalised at cost and are depreciated, after taking account of residual values, over their estimated useful lives on a straight line basis as set out below.
Depreciation rates are as follows:
Display and interpretation over 15 years
## Heritage Assets
Assets held for their historical or artistic importance to advance preservation, conservation and public access to the nation’s culture and education are classified as heritage assets in the accounts. The Trust capitalises heritage properties at their purchase price plus any restoration costs to restore them to their former condition and bring them back into use. Any further preservation costs are charged to the statement of financial activities when carried out. The Trust owns the freehold property Gaskell House the former home of the Elizabeth and William Gaskell and their daughters and during the year commenced the final stage of the restoration through work on the Coach House.
Items acquired for exhibition are included at their purchase price or if donated at their estimated value on acquisition.
No depreciation is charged on heritage assets as the trustees believe that they have an indefinite life. The trustees consider annually whether any heritage assets have been impaired and adjust the carrying value accordingly. There have been no impairments to the assets.
- k Fixed asset investments
The charity has no investments other than its ownership of 100% of the share capital of its subsidiary company, The Gaskells' House Trading Limited. This investment is stated at cost since there is no way of measuring its fair value.
## l Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## m Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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Manchester Historic Buildings Trust
Notes to the accounts for the year ended 31 October 2025 (continued)
## n Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## o Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## p Pensions
Employees of the charity are entitled to join a defined contribution scheme. The charity’s contribution is restricted to the contributions disclosed in the notes. There were no outstanding contributions at the year end.
## 2 Legal status of the charity
The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.
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Manchester Historic Buildings Trust
## Notes to the accounts for the year ended 31 October 2025 (continued)
- 3 Income from donations, legacies and grants
|Unrestricted grants and donations
Restricted grants and donations
Legacies
Total
4
Income from other trading activities
Rental income
Other income
Admin charges
5
Investment income
Income from bank deposits
6
Cost of raising funds
Support costs|2025
£
45,493
31,597
47,293
124,383
2025
£
-
10,168
49
10,217
2025
£
213
213
2025
£
2,151
2,151|_2024_
_£_
_13,744_
_1,045_
_-_
_14,789_
_33,902_
_2024_
_£_
_6,000_
_-_
_-_
6,000
_2024_
_£_
_290_
290
_2024_
_£_
_3,159_
_3,159_|
|---|---|---|
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Manchester Historic Buildings Trust
## Notes to the accounts for the year ended 31 October 2025 (continued)
7 Analysis of expenditure on charitable activities
|Staff costs
Events other direct costs
Premises costs
Insurance
Repairs
Other office and admin expenses
Subscriptions
Accountancy fees
Professional fees
Depreciation
Bank charges
Consultancy
Publicity, marketing and promotion
Restricted expenditure
Unrestricted expenditure
8
Net income/(expenditure) for the year
This is stated after charging/(crediting):
Depreciation
Independent examiner's fee:
Accountancy fees
Independent examination
9
Staff costs
Staff costs during the year were as follows:
Wages and salaries
Employers National Insurance
Pension costs|2025
£
54,693
4,770
7,231
6,697
3,638
5,015
677
1,200
2,284
12,787
120
20,500
5,867
125,479
31,952
93,527
125,479
2025
£
12,787
800
200
2025
£
55,316
1,675
883
57,874|_2024_
_£_
_69,422_
_6,777_
_14,701_
_7,067_
_9,126_
_3,589_
_1,932_
_-_
_-_
_12,787_
_72_
125,473
_13,832_
_111,641_
_125,473_
_2024_
_£_
_12,787_
_-_
_-_
_2024_
_£_
_64,560_
_1,192_
_3,671_
_69,423_|
|---|---|---|
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Manchester Historic Buildings Trust
## Notes to the accounts for the year ended 31 October 2025 (continued)
No employee had employee benefits in excess of £60,000 (2024: Nil).
The average number of staff employed during the period was 7 (2024: 7).
The average full time equivalent number of staff employed during the period was 4 (2024: 4).
The key management personnel of the charity comprise the trustees and the Museum Director. The total employee benefits of the key management personnel of the charity were £38,610.
- 10 Trustee remuneration and expenses, and related party transactions
Neither the management committee nor any persons connected with them received any remuneration or reimbursed expenses during the year (2024: Nil).
One member of the management committee received travel and subsistence expenses during the year £34 (2024: £nil).
Aggregate donations from related parties were £840.
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2024: nil).
- 11 Corporation tax
The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
## 12 Fixed assets
|Functional
Cost
Depreciation
Charge for the year
Net book value
At 1 November
At 31 October
At 31 October
_At 31 October_
At 31 October
At 1 November|Display &
Fixtures , Fittings
Interpretation
& equipment
£
£
191,811
21,446
191,811
21,446
109,758
21,446
12,787
-
122,545
21,446
69,266
-
_82,053_
_-_|£
213,257
213,257
131,204
12,787
143,991
69,266
_82,053_
Total|
|---|---|---|
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Manchester Historic Buildings Trust
## Notes to the accounts for the year ended 31 October 2025 (continued)
|12|Fixed assets (continued)|Freehold||
|---|---|---|---|
|||Property
Exhibits||
|||£
£|£|
||Heritage assets|||
||Cost and net book value, brought forward and|||
||carried forward|2,458,596
58,058|2,516,654|
|13|Investments|||
||The Gaskells' House Trading Ltd|2025
_2024_
£
_£_
10
_10_||
|||10
_10_||
||The charity is the sole member of The Gaskells'|House Trading Limited. The results of the||
||subsidiary company were as follows:|||
||Profit and loss account|2025
_2024_
£
_£_||
||Income|112,685
95,673||
||Expenditure|(107,849)
(95,673)||
|||4,836
_-_||
||Balance sheet|||
||Current assets|37,679
26,705||
||Current liabilities|(32,833)
(26,695)||
|||4,846
_10_||
|14|Debtors|||
||Trade debtors|2025
_2024_
£
_£_
756
_-_||
||Other debtors|3,635
_8,314_||
||The Gaskells' House Trading Ltd - subsidiary|21,634
_13,725_||
|||26,025
_22,039_||
|15|Creditors: amounts falling due within one year|||
||Trade creditors|2025
_2024_
£
_£_
1,496
_1,881_||
||Accruals and deferred income|2,000
_3,080_||
||Other creditors|-
_10,568_||
||VAT liability|3,267
_3,948_||
||Taxation and social security costs|2,103
_2,263_||
|||8,866
21,740||
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16 Analysis of movements in restricted funds
## Notes to the accounts for the year ended 31 October 2025 (continued)
|Balance at 1
November
2024
£
William's Study
168
-
-
2,593,395
Total
2,593,563
_Comparative period_
_Balance at 1_
_November_
_2023_
_£_
_HLF-CRF1_
_-_
_-_
_William's Study_
_168_
_2,606,182_
_Total_
_2,606,350_
_MCC_
_Trailblazers_
_Capital grants_
_reserve_
Capital grants
reserve
Museum
development
Lottery Heritage
Fund Writers|Income
£
-
5,197
26,400
-
31,597
_Income_
_£_
_545_
_500_
_-_
_-_
_1,045_|Expenditure
£
-
(5,197)
(26,755)
-
(31,952)
_Expenditure_
_£_
_(545)_
_(500)_
_-_
_(12,787)_
_(13,832)_|Transfers
£
(168)
-
(2,593,395)
(2,593,563)
_Transfers_
_£_
_-_
_-_
_-_
_-_
_-_|Balance at 31
October 2025
£
-
-
(355)
-
(355)
_Balance at_
_31 October_
_2024_
_£_
_-_
_-_
_168_
_2,593,395_
_2,593,563_|
|---|---|---|---|---|
Name of restricted fund Description, nature and purposes of the fund
Lottery Heritage Funds to run “10 Years of Elizabeth Gaskell’s House: Inaugural Writers Fund Writers Residency”, a writer-in residence programme run during 2025 Residency
Museum “Writing the Future: Summer at Elizabeth Gaskell’s House”, a series of artist and development writer-led workshops specifically aimed at local families in the hyperlocal area North during Summer 2025 Capital grant This grant represented capital grants received for the restoration of Gaskell reserve House. These funds are not regarded as restricted since the house is available to be used for the general charitable purposes of the charity, and the restricted fund has been released to unrestricted funds. However, the grants received do represent a contingent liability, since if the house were ever sold, they could become repayable. The contingent liability is described in note 19. In addition, the amount of funds tied up in the building and displays is treated as a designated fund (see note 17).
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17 Analysis of movement in unrestricted funds
## Notes to the accounts for the year ended 31 October 2025 (continued)
|Balance at 1
November
2024
£
73,354
Building
-
14,000
87,354
_Comparative period_
_Balance at 1_
_November_
_2023_
_£_
_88,120_
_94,000_
_182,120_
General fund
_General fund_
Building
maintenance
_Building_
_maintenance_|Income
£
103,216
-
-
103,216
_Income_
_£_
_20,034_
_-_
_20,034_|Expenditure
£
(93,729)
-
(1,950)
(95,679)
_Expenditure_
_£_
_(114,800)_
_-_
_(114,800)_|Transfers
£
7,643
2,585,920
-
2,593,563
_Transfers_
_£_
_80,000_
_(80,000)_
_-_|As at 31
October 2025
£
90,484
2,585,920
12,050
2,688,454
_As at 31_
_October_
_2024_
_£_
_73,354_
_14,000_
_87,354_|
|---|---|---|---|---|
Name of
unrestricted Description, nature and purposes of the fund
General fund Building
The free reserves after allowing for all designated funds The net book value of the building; the funds invested in the building are not available to defray the operational expenses of the charity
Building maintenance Unrestricted funds set aside for building maintenance and repairs
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## Notes to the accounts for the year ended 31 October 2025 (continued)
18 Analysis of net assets between funds
|Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Total
Comparative period
Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Total|General
fund
£
2,585,920
10
(2,495,445)
90,485
General
fund
£
-
10
73,344
73,354|Designated
funds
£
-
-
2,597,970
2,597,970
Designated
funds
£
-
14,000
14,000|Restricted
funds
£
-
-
(355)
(355)
Restricted
funds
£
2,598,707
(5,144)
2,593,563|Total 2025
£
2,585,920
10
102,170
2,688,100
Total 2024
£
2,598,707
10
82,200
2,680,917|
|---|---|---|---|---|
19 Contingent liabilities
The charity has received grant support for the restoration of Gaskell House from a number of different funders, which have continuing restrictions over the disposal of the property.
Heritage Lottery Fund (HLF) - £190,935 (phase 1) and £1,430,877 (phase 2 – excluding revenue support)
The Charity cannot dispose of the property by sale or lease for a period of twenty five years from June 2012 without the written consent of HLF, and if let or sold at a full market rate HLF may require that a proportion of the net proceeds are paid to them in accordance with their standard grant conditions. The charity is also obliged to open the property to the public and to advertise the opening times.
## English Heritage - £297,911 (Phase 1) and £86,849 (Phase 2)
The Charity cannot dispose of the property by sale or lease for a period of ten years after the final payment of the grant (effectively from March 2013) without the written consent of English
Heritage, which consent will only be given after any grant already paid has been recovered in full. The charity is also obliged to open the property to the public and to advertise the opening times.
## Biffa - £50,000
If the charity disposes of the property, RSWT (the grantor) is entitled to some of the proceeds in proportion to their contribution, unless otherwise agreed.
There are no contingent liabilities attaching to the funding from other sources. None of the above contingent liabilities are expected to crystallise.
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