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← World Monuments Fund Britain Limited

2025-06-30-accounts

Charity Number: 1126578

Company Registration Number: 06730565 (England and Wales)

WORLD MONUMENTS FUND BRITAIN LIMITED TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2025

WORLD MONUMENTS FUND BRITAIN LIMITED

COMPANY INFORMATION

Trustees Prof. Sir David Cannadine (from 13 November 2025) Ms Ann Chapman Daniel Mr Patrick Franco Mr James Goold Mrs Lorna Goodman Ms Hannah Kaye Mr William Loschert Mrs Monika McLennan (resigned 14 November 2024) Ms Martina Mondadori (from 20 March 2025) Ms Bénédicte de Montlaur (ex officio) Ms Anna van Praagh Mrs Jacqueline Ranawake Ms Hélène-Marie Shafran (Chair) Mr Julian Sharpe Mr William Sieghart (resigned 13 November 2025) Ms Sumayya Vally Ms Sonali Wijeyaratne

Executive Director and Company Secretary Mr Magnus von Wistinghausen

Company number 6730565
Charity number 1126578
Registered Office 70 CowcrossStreet
London
EC1M6EJ
Independent Auditors Saffery LLP
71Queen VictoriaStreet
London
EC4V 4BE
Bankers HSBC Bank Plc
333 Vauxhall Bridge Road
London
SW1V1EJ

WORLD MONUMENTS FUND BRITAIN LIMITED

CONTENTS

Page
Report of the Trustees 1
IndependentAuditors' Report 11
Statementof FinancialActivities 14
Balance Sheet 15
Cash FlowStatement 16
Notes to the FinancialStatements 18

WORLD MONUMENTS FUND BRITAIN LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

The Trustees (who are also the directors for the purposes of company law) present their report and the financial statements for the year ended 30 June 2025. The company information page forms part of this report. The report includes the directors’ report and has been prepared in accordance with the requirements of the charity’s Memorandum and Articles of Association and current statutory requirements including Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the United Kingdom and Republic of Ireland (FRS102).

Principal Activity

The defined purpose of The World Monuments Fund Britain Limited is to: “conserve and restore for the public benefit, and thereby to save for future generations, buildings of historical and architectural interest, educative value and artistic merit, wherever situated. It was also established to advance the education of the public by encouraging knowledge and understanding of buildings and monuments of historical or architectural interest, educative value or artistic merit.”

Legal and Administration Details

The official name of the Charity is World Monuments Fund Britain Limited. The Charity was incorporated on 22 October 2008, company registration number 6730565, and received its charitable registration on 5 November 2008, charity number 1126578. The principal office of the Charity is situated at 70 Cowcross Street, London EC1M 6EJ. The World Monuments Fund Britain Limited is a wholly-owned subsidiary of World Monuments Fund, New York.

Trustees

The Trustees who served throughout the period and at the date of this report are set out on the Company Information page, which forms part of this report.

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WORLD MONUMENTS FUND BRITAIN LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Structure, Governance and Management

In accordance with the Memorandum and Articles of Association, Trustees shall be appointed at a General Shareholders Meeting for a term of three years. Retiring Trustees may be re-appointed.

The Trustees meet three times a year to agree the broad strategy and areas of activity of the organisation. The day-to-day administration and project management is delegated to the Executive Director and staff.

The Trustees complete annually an audit of skills required by the Board to achieve the Charity’s purposes, identified gaps and actively sought to fill those considered the greatest priority. New Trustees are introduced through the contacts of existing Trustees or from other sources in the field of historical and architectural conservation. Experience and skills which are of value to the Charity, together with a keen interest in the aims of the Charity, are taken into account when inviting potential new Trustees for interview to join the Board. Upon joining the Board, new Trustees are invited to induction meetings by the Chair and Executive Director, as well as joining online induction meetings held annually by the CEO and President of World Monuments Fund for all new Trustees across the parent organisation. Training for Trustees is continued through regular meetings and discussions with Charity staff or individuals and organisations in the areas supported by the Charity.

The Board of Trustees met three times in the year.

The Board set up four subgroups to support WMFB in the delivery of its charitable purpose and strategic ambition, providing advice to the Board and officers. The four subgroups focus on WMFBs current priorities and are:

  1. Governance (including finance)

  2. Projects

  3. Development

  4. Communications and Public Events

A Trustee leads each subgroup, which meet three times a year, reporting back on progress at the following Board meeting. In October 2021, WMFB agreed a Global Operating Agreement with WMF in New York. This replaced the Principles of Cooperation, signed by WMFB in 2006. The Global Operating Agreement sets out the relationship with WMF in New York, giving clarity on issues such as project management, marketing, communication, fundraising and governance responsibilities, aligning with the needs of the Charity Commission.

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WORLD MONUMENTS FUND BRITAIN LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Risk Management

The Trustees have reviewed and assessed strategic, business and operational risks to which the charity is exposed and confirm they have established processes to enable regular reports to be produced to monitor risk levels and ensure that necessary steps can be taken to reduce these. The Executive Director provides an annual assessment summary of key risk areas, along with an update in his Board meeting commentary and report as required. Separate risk registers are prepared for specific projects as required to recognise, monitor and minimise the risk exposure of World Monuments Fund Britain. Key risks identified by the charity include particular vigilance around cyber security. These are being addressed by drawing on the systems and resources provided by the parent organisation World Monuments Fund, in line with their cyber security policies and practices as well as global insurance cover. General uncertainties due to the economic and geopolitical environment are addressed by maintaining healthy levels of unrestricted reserves allowing the charity to weather periods of disruption, and by keeping organisational overheads at a low level with no long-term contractual obligations.

A Register of Interests is maintained based on declarations from Trustees and senior staff in order to identify potential conflicts of interest.

Policy, Aims and Objectives

The aim of the Charity is to preserve buildings and monuments of architectural and historical interest and to encourage knowledge and understanding of these buildings.

The projects supported throughout the period were selected based on the above criteria. As in the past, all future projects will be approved by the Board of Trustees. Funding is obtained through specific fund-raising activities and grants.

Staff

During the year, the activities of the Charity are managed by an Executive Director, a Director of Projects, Projects Manager, a Development Manager and with support from an Administration and Support Officer, a freelance accountant and occasional graduate interns and volunteers. Pay and remuneration of key personnel is set by the Governance and Finance Sub-committee, with reference to not-for-profit sector benchmarks.

Graduates and interns are offered the opportunity to develop their specialist skills and education through individual projects which are relevant to their expertise and the aims of the Charity.

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WORLD MONUMENTS FUND BRITAIN LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Review of Activities

Projects: UK

Assembly Rooms, Belfast

Since the 2025 Watch selection of the Assembly Rooms Belfast, WMF in Britain has returned to Northern Ireland to support a community advocacy campaign, led by The Assembly Rooms Alliance, to return the building to social and cultural life of the city. WMF engaged key stakeholders, including Belfast City Council, at a dedicated event in Belfast, and raised awareness through press coverage in The Times, BBC Northern Ireland and other news outlets. This amplification of the campaign contributed to Belfast City Council’s purchase of the building, bringing it into public ownership after many decades in private hands and the closure of this significant building at the centre of historic Belfast for more than 10 years.

Coventry Cathedral

This legacy project focuses on conserving Coventry Cathedral’s significant 15[th] -century stained glass collection by assessing current storage conditions and developing recommendations for its longterm conservation and interpretation.

St. George's Bloomsbury, London

The project, which builds on the restoration works completed in 2008, will install of two new gates at the main entrance, designed to improve access, discourage anti-social behaviour, and restore visual harmony to Hawksmoor's principal facade.

Moseley Road Baths, Birmingham

During 2024/25 WMF Britain remained an active coalition partner in the “Diving In” project to restore and repurpose the Edwardian Moseley Road Baths in Birmingham. Following the insolvency of the previous contractor, a new delivery partner, Galliford Try, was appointed and progressed preconstruction works and steel repairs ahead of the main contract start later in 2025. Revised designs for both phases were completed, identifying savings to manage inflationary pressures and a significant funding gap. WMF Britain also supported new fundraising bids, including to Salix, the Libraries Improvement Fund and the Architectural Heritage Fund, and funded a community mural commission on the site hoarding. Through professional visits and knowledge-sharing with other historic pools and heritage partners, WMF Britain helped maintain national visibility and momentum as the project moved toward the next NLHF funding stage.

Palm House, RBG Kew

This WMF Signature project received initial seed funding from WMF Britain, along with a substantial funding commitment towards the implementation of the Palm House conservation project. Following the appointment of a design team led by Hugh Broughton and Martin Ashley Architects, the temporary greenhouses for propagation and decanting have now been constructed. A series of tests have been conducted to identify suitable materials and best approaches for the restoration of

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WORLD MONUMENTS FUND BRITAIN LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

the wrought iron structure of the Palm House and Water Lily House. After conducting an international mapping exercise to identify major historic glasshouses, WMF established a working group in collaboration with RBG Kew architects, conservation specialists, and horticultural staff to share expertise from leading European and international glasshouses. The group’s engagement with institutions such as Berlin Botanic Garden, Palace and Gardens of Schönbrunn, Jardin des Plantes, and the Royal Botanic Garden Edinburgh informed ongoing material testing and energy efficiency strategies for the Great Palm House renovation. These exchanges have, amongst other, prompted testing of a new glass type and consideration of temperature reductions to improve energy performance, while broadening insights into conservation and sustainability practices. Plans are now underway to broaden the group to include smaller glasshouses to enhance opportunities for sharing and increase impact, leading towards a joint symposium in autumn 2026 on conservation, decarbonisation and interpretation. The project received a major boost in Summer 2025 through a £5 million grant from the Julia Rausing Trust.

Strata Florida, Ceredigion

WMF Britain continued its partnership with the Strata Florida Trust to develop the Y Stablau project, converting the listed 19[th] -century farm stables into a centre for heritage craft skills training. Detailed designs were completed by DB3 Architects and planning and listed building consent secured from Ceredigion County Council. A full cost review was commissioned and a new delivery model agreed, with WMF managing the works directly to maximise training opportunities. Fundraising passed the £1 million mark, including confirmed support from the Foyle Foundation, Swire Charitable Trust, private donations and the Wilson Match Fund, with further bids submitted to a number of trusts and foundations. Productive partnerships were established with the University of Wales Trinity Saint David and Coleg Ceredigion, with course pilots and staff training days held in preparation for student participation from 2025. The project now moves toward delivery on site, combining building conservation with hands-on craft training to address skills needs across Wales.

Projects: International

Benghazi, Libya

Funded through the British Council’s Cultural Protection Fund, the project has entered its second phase following the successful completion of its initial training programme with the Historic City Authority and Barah Arts Center. A new £60,000 extension, running to January 2026, was secured to deepen training in structural engineering solutions for historic buildings and to complete the restoration of a historic green space in the city. An April 2025 visit to Benghazi concluded Phase 1, assessed outcomes, and identified future case studies including the Barah Arts Building and Qashla Barracks. A short film presented by Dan Snow, documenting the project, is in production. Phase 2 will focus on practical applications and a new community-led landscape scheme in Alscabli Square, supporting local capacity to conserve Benghazi’s historic core alongside redevelopment.

Coastal Connections

Supported by the Mellon Endowment for British Architecture in partnership with English Heritage, the Coastal Connections program has developed a global network of over 60 sites to address the conservation of coastal heritage and the impacts of climate change. Between January 2024 and

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WORLD MONUMENTS FUND BRITAIN LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

January 2025, ten online workshops were delivered featuring over 50 experts and engaging more than 700 participants from 81 countries. Recordings and accompanying case studies and resources are now freely available online. Public engagement of the program included a successful Watch Day at Hurst Castle in September 2024 (which drew over 550 attendees and included talks, family activities, and historical demonstrations) and participation at the London Design Biennale 2025, when some 10,000 visitors engaged with the Coastal Connections Pavilion. Curated by Vanessa Norwood, it featured seven sites from the Coastal Connections network highlighted on a world floor map (using a modified Spilhaus ocean-centric projection) and incorporated an interactive screen with video interviews from the seven sites. Funding for the next phase of Coastal Connections has been secured through a successful bid to the Lloyds Register Foundation. This will involve establishing six regional hubs across the Global South to run workshops and build regional networks. For this, WMF will work in collaboration with other partners and seek to leverage further funding to establish other regional hubs – while continuing a partnership with English Heritage to develop the role of Hurst Castle as a site for education on addressing challenges of conserving coastal heritage.

Minnette De Silva, Sri Lanka

The project promoting and safeguarding the legacy of Sri Lanka’s pioneering modernist architect Minnette De Silva continued in partnership with the Museum of Modern & Contemporary Art Sri Lanka. Over the year, WMF Britain co-hosted further paper conservation workshops led by City & Guilds Art School, advanced work on a digital archive of De Silva’s 90 buildings, and in June 2025 secured $68,000 from UCLA’s Modern Endangered Archives Programme for digitisation. The film 88 Acres was screened internationally, including at the Venice Biennale and at the V&A in London. It also won the 2025 Society of Architectural Historians award for Best Film and Video. An advisory panel has now been established, and a visit to Sri Lanka for the project’s Supporter Circle is planned for late 2025 to explore De Silva’s wider influence on modernism in South Asia.

Membership

On 30 June 2025, WMF Britain’s membership comprised the following: International Council – 30 (2024:24) Patron – 7 (2024: 6) Friend – 9 (2024: 7) Capital – 5 (2024: 9) Keystone – 15 (2024: 22) Foundation – 30 (2024: 24)

Advocacy and Public Events

Anniversary Year Events

2025 marked WMF’s 60[th] anniversary, and WMF Britain’s 30[th] anniversary. Events and celebrations have been taking place throughout year and across the world. In the UK, WMF Britain

commemorated 20 years of work at Stowe House with a special visit and plaque unveiling, followed by a private dinner at Hartwell House, providing a moment to recognise the contribution of our most generous donors. Further celebratory events lined up for 2025 included dinner at Windsor Castle on

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

15 July in the presence of WMFB’s Royal Patron HRH The Duke of Gloucester, and an evening at the Tower of London on 9 September, co-hosted with WMF Britain’s anniversary sponsor Giorgio Armani. These events offered the opportunity to thank our longstanding supporters, as well as introduce potential new supporters to WMF’s work globally and build the growing WMF movement to “Safeguard the Irreplaceable.”

Escapades

The Escapades programme has continued to grow with trips to Arles, Paris, Maastricht, Milan and Granada during the FY24/25. These specially curated short excursions to cultural sites and cities, with an initial focus on Europe, are designed to provide the opportunity to engage International Council and Patron members with WMF’s work. Trips have averaged c. 25 travellers, made up of existing members and newly recruited members/prospects. They have provided a great membership recruitment tool and offer a more accessible way to travel with WMF and grow our European community. The Escapade model has now been adopted globally with trips being organised in Asia and the Americas too.

Project Funding

This financial year saw an increase in funding received from trusts and foundations. Following a successful application for a top-up grant of £25,000 for Strata Florida, the Foyle Foundation have given a total of £100,000 towards this project. A successful application to the Swire Charitable Trust secured a further £75,000 for Strata Florida. WMFB also successfully secured $68,000 from the UCLA Modern Endangered Archives Programme for the Minette De Silva project in Sri Lanka. Other Trust & Foundation contributions include £10,000 from the Al Tajir Trust in support of WMFB’s Syrian stonemason Eshraq Al Alabrash’s further studies at London’s City & Guilds Art School.

2025 Watch Programming

The 2025 World Monuments Watch was announced globally on 16 January, with various launch events taking place across WMF’s global offices. WMF Britain partnered with the V&A’s Culture in Crisis programme to bring this year’s list to a UK audience, exploring the impact of Watch lists old and new and the wider theme of risks to heritage. A UK site-focused event also took place in Northern Ireland in partnership with the nominator, the Assembly Rooms Alliance. The event, which took place at Belfast’s Clifton House, was attended by local heritage professionals as well as Belfast city councillors.

Heritage Day 2025

WMF Britain participated in The Heritage Alliance’s annual “Heritage Day” at the Tower of London as an exhibitor – sharing information about the 2025 Watch and other projects work and fostering connections with heritage sector peers and policymakers.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Tour of Moseley Road Baths with SAVE Britain’s Heritage

In March, WMFB partnered with SAVE Britain’s Heritage in offering a special hard-hat tour of Moseley Road Baths – an opportunity to collaborate with a key partner in the sector and engage a new audience. SAVE curated a walking tour of the local area, with WMFB Projects Manager discussing the significance of the site and WMF’s input, alongside other coalition partners, to ensure the Baths remain open for the community to enjoy.

Coastal Connections @ London Design Biennale

The Coastal Connections program and global network of over 50 sites was the focus of WMF’s first presence at the 2025 edition of the London Design Biennale at Somerset House. WMF and English Heritage’s display was one of 30+ pavilions and alone saw an estimated 10,000 visitors during the event’s three-week run. In addition to early-morning views and a curator tour for members, WMF Britain hosted two public events, including a panel discussion, “A Celebration of Global Heritage by the Sea,” which explored issues facing network sites such as Port Lockroy, Antarctica, Hurst Castle, UK and Christiansborg Castle, Ghana, and “How the Oceans Shape Our Coastal Heritage” – a conversation between WMFB’s Director of Projects, John Darlington, and Helen Czerski, a physicist, author and oceanographer. WMF’s presence at the Biennale brought a new audience and opened the way for new partnerships.

Financial Review

Net outgoings for operating expenses in the year were somewhat higher than income, resulting in a net decrease in unrestricted funds of £14,369 (2024: increase of £146,847). Unrestricted income amounted to £459,945 (2024: £672,355), before transfers from restricted funds, reflecting rising membership and interest income. Outgoings stood at £560,814 (2024: £600,928).

A total of £2,568,990 (2024: £738,059) was received in restricted funds with £1,655,713 (2024: £484,741) transferred to projects in the year. Of these, £614,140 represent donations towards the organisation’s global endowment campaign, to benefit specifically the activities of WMF Britain. These funds will be held permanently within the investment portfolio of the parent company, with annual income allocations distributed to WMF Britain’s discretionary use.

Total reserves at 30 June 2025 were £2,436,769 (2024: £1,631,977). There has been a net increase of £819,161 (2024: £177,889) in restricted funds due to donations and grants received for projects such as Strata Florida and Kew in particular, a significant donation in support of a WMF project in India and donations towards the global endowment campaign.

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WORLD MONUMENTS FUND BRITAIN LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Reserves Policy

The charity carries out a variety of both short and long-term projects in the conservation of historic structures and sites, along with advocacy and work with local communities, promoting skills, access and understanding. The Trustees have examined the requirement of the free reserves, i.e. unrestricted funds, which, given the nature of the charity’s work, should equate to at least 3 months, and preferably 6 months’ unrestricted operating expenditure, covering adequate working capital for core costs, administration and support costs. Following this examination, the Trustees are satisfied that the requirement is met.

Free reserves at 30 June 2025 of £464,335 are sufficient to cover over 12 months of budgeted core operating costs. This allows the Trustees sufficient resources to engage in future planned project activity along with investments to ensure a long-term strategy for the organisation is pursued. In addition, £100,000 set aside by Trustees as designated funds are available to invest in strategic initiatives.

Restricted funds include three project funds that were in deficit at year end: Belfast Assembly Rooms (£5,346), Coastal Connections (£45,599) and Minette de Silva (£33,783). The negative balances will be covered by income pledged and grants confirmed in 2024/25 and received in the 2025/26 financial year.

Fundraising

The charity carries out fundraising in support of the objectives of the charity. These activities are targeted at a small membership and do not involve members of the general public. Donor cultivation and stewardship events include special access visits and tours, talks and receptions, with a focus on current work and priority sites. Fundraising is managed internally, without using professional fundraisers. The charity is registered with the Fundraising Regulator and is committed to follow the Code of Fundraising Practice and the Fundraising Promise. No complaints were received in respect of fundraising activity over the period covered by this report.

Investments

The charity has no investments. Liquid funds are placed in short-term deposits, paying regard to operational and project related liquidity needs.

Plans for Future Periods

The Trustees plan to continue supporting a wide range of projects in pursuit of the objects of the Charity.

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WORLD MONUMENTS FUND BRITAIN LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025

Statement of Trustees' Responsibilities

The Trustees (who are also directors of World Monuments Fund Britain Limited for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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.

In so far as the Trustees are aware:

This report has been prepared under the provisions applicable to small companies.

Approved by the Board of Trustees on 9 March 2026 and signed on their behalf by:

iy SD) .sdclen Hélène Marie Shafran, Chair March 2026

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WORLD MONUMENTS FUND BRITAIN LIMITED

INDEPENDENT AUDITORS’ REPORT TO THE SHAREHOLDER FOR THE YEAR ENDED 30 JUNE 2025

Opinion

We have audited the financial statements of World Monuments Fund Britain Limited for the year ended 30 June 2025 which comprise the statement of financial activities, the balance sheet, the cash flow statement and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other Information

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and,

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WORLD MONUMENTS FUND BRITAIN LIMITED

INDEPENDENT AUDITORS’ REPORT TO THE SHAREHOLDER FOR THE YEAR ENDED 30 JUNE 2025

except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibilities are to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material

misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

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WORLD MONUMENTS FUND BRITAIN LIMITED

INDEPENDENT AUDITORS’ REPORT TO THE SHAREHOLDER FOR THE YEAR ENDED 30 JUNE 2025

Responsibilities of Trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 9–10, the Trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative to do so.

Auditor’s Responsibilities for the Audit of the Financial Statements

We have been appointed as auditors under the Companies Act 2006 and report in accordance with that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud and error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description part of our auditor’s report.

Use of Our Report

This report is made solely to the charitable company’s members and the Trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members and Trustees as a body, for our audit work, for this report, or for the opinions we have formed. Velen Wolke

Helen Wilkie (Senior Statutory Auditor)

For and on behalf of Saffery LLP Statutory Auditors, 71 Queen Victoria Street, London, EC4V 4BE

13 March 2026

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

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WORLD MONUMENTS FUND BRITAIN LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025

Unrestricted Restricted 2024
Notes Funds Fund 2025 Total Total
£ £ £ £
Restated

Income from:
Donations 255,273 1,587,564 1,842,837 862,761
Income from fundraising events 46,416 - 46,416 181,830
Membership income 112,759 112,759 91,140
Investments 45,497 - 45,497 35,059
459,945 1,587,564 2,047,509 1,170,790
Charitable activities
Project grants and
contributions - 981,426 981,426 239,624
Total income 459,945 2,568,990 3,028,935 1,410,414
Expenditure on:
Raising funds 2 343,160 7,616 350,776 374,588
Charitable activities
Project expenditure 2 217,654 1,655,713 1,873,367 705,153
Education 2 - - - 5,937
Total expenditure 2 560,814 1,663,329 2,224,143 1,085,678
Net income (100,869) 905,661 804,792 324,736
Transfer between funds 86,500 (86,500) - -
Net movement in funds (14,369) 819,161 804,792 324,736
Balance brought forward 1 July 2024 -
restated 578,704 1,053,273 1,631,977 1,307,241
Balance carried forward 30 June 2025 564,335 1,872,434 2,436,769 1,631,977

All recognised gains and losses during the year are included in the Statement of Financial Activities. All the activities of the charity are classed as continuing.

The notes on pages 18 to 30 form part of these financial statements.

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WORLD MONUMENTS FUND BRITAIN LIMITED

BALANCE SHEET AT 30 JUNE 2025

2025 2024
Unrestricted Restricted
Notes Funds Fund Total Total
£ £ £ £
Restated
Fixed assets
Tangible Assets 6 3,714 - 3,714 845
Current assets
Debtors 7 204,824 93,668 298,492 173,334
Cash at bank 530,799 2,160,318 2,691,117 1,659,400
735,623 2,253,986 2,989,609 1,832,734
Current liabilities
Creditors: amounts
falling due within one
year: 8 (175,001) (381,552) (556,553) (201,601)
Net current assets 560,622 1,872,434 2,433,056 1,631,133
Net assets 564,336 1,872,434 2,436,770 1,631,978
Represented by:
Share Capital 9 1 - 1 1
Restricted Funds 11 - 1,872,434 1,872,434 1,053,273
Unrestricted
Funds 12 564,335 - 564,335 578,704
Total funds 564,336 1,872,434 2,436,770 2,436,770
1,631,978

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to companies.

These financial statements were approved by the Trustees on 9 March 2026 and are signed on their

behalf by:

jay SS stolen

……………………………………………………..

Hélène Marie Shafran, Chair

The notes on pages 18 to 30 form part of these financial statements.

Company Registration Number: 6730565 (England and Wales)

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WORLD MONUMENTS FUND BRITAIN LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2025

Notes
Cash flows from operating
activities:
Net cash provided by
operating activities
1
Cash flows from investing
activities:
Purchasing of tangible fixed
assets
Interest received
Net cash provided by
investing activities
Change in cash and cash
equivalents in the reporting
period
Cash and cash equivalents at
the beginning of the reporting
period
Cash and cash equivalents at
the end of the reporting
period
2		 2025
£
(3,479)
45,497		 2025
£
989,699


42,018
1,031,717
1,659,400
2,691,117		 2024
£
(966)
35,059		 2024
£
252,230
34,093
286,323
1,373,077
1,659,400

Page 16

WORLD MONUMENTS FUND BRITAIN LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2025

1) Reconciliation of net income to net cash flow from operating activities

1) Reconciliation of net income to net cash flow from operating activities
Net income for the reporting period (as
per the statement of financial activities)
Depreciation
Interest received
(Increase) in debtors
Increase in creditors
Net cash provided by operating activities		 2025
£
804,792
610
(45,497)
(125,158)
354,952
989,699		 2024
£
324,736
286
(35,059)
(71,467)
33,734
252,230

2) Cash and cash equivalents

Cash at bank and on instant access deposit
accounts
3) Analysis of changes in net funds
As at 1 July
2024
Cash and cash equivalents
Cash
1,659,400
Total
1,659,400		 Cash at bank and on instant access deposit
accounts
3) Analysis of changes in net funds
As at 1 July
2024
Cash and cash equivalents
Cash
1,659,400
Total
1,659,400		 2025
£
2,691,117
2,691,117
Cash flows
Other non-
cash
changes
1,031,717
-		 2024
£
1,659,400
1,659,400
As at 30
June 2025
2,691,117
1,659,400 1,031,717
-		 2,691,117

Page 17

WORLD MONUMENTS FUND BRITAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting Policies

The charity was formed as a company limited by share capital on 22 October 2008. The registered

office is 70 Cowcross Street London EC1M 6EJ.

1.1 Basis of the Preparation of Accounts

The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to

charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

The Trustees confirm that the Charity is a public benefit entity as defined by FRS 102.

The accounts have been prepared in £ sterling and are rounded to the nearest pound.

The accounts have been prepared under the historical cost convention. The financial statements are prepared in pounds sterling, which is the functional currency of the charity.

At the time of approving the financial statements the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future, being a period of at least a year from the date the accounts are signed. This is based on budget and cashflow forecasts, underpinned by healthy levels of free reserves. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.2 Tangible Fixed Assets

Items are capitalised that cost over £100 and have an ongoing value in use to the charity. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost of each asset over its expected useful life as follows: computers, furniture and other equipment: 25% straight line.

Page 18

WORLD MONUMENTS FUND BRITAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1.3 Income

Donations, gifts, legacies and similar incoming resources are accounted for when receivable, which

is when the Charity becomes entitled to the resource. Deferred income represents accounts received for future periods and is released to incoming resources in the period for which it is received. Gift Aid reclaimable on donations to the Charity is included with the amounts received. Investment income, represented by bank interest is credited to the Statement of Financial Activities on a receivable basis.

Income from charitable activities relates to income received in respect of expenditure on specific projects.

On occasion, the charity receives generous support by the way of gifts in kind in respect of fundraising and other events. These are not reflected within the financial statements due to the fact that their value to the Charity cannot be estimated reliably.

1.4 Expenditure

All expenditure is included on an accruals basis and is recognised when there is a legal

or constructive obligation to pay for the expenditure. The direct costs have been

allocated as described below. The indirect costs have been allocated as described in note 2.

Page 19

WORLD MONUMENTS FUND BRITAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1.5 Foreign Currencies

Transactions in foreign currencies are recorded at the rate ruling at the date of the translation. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the Statement of Financial Activities.

1.6 Financial Instruments

The charity has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised initially in the accounts at transaction price, including any transaction costs. At the end of each accounting period, basic financial instruments are recognised at amortised cost. For debt instruments this is calculated using the effective interest rate method.

1.7 Critical Accounting Estimates and Areas of Judgement

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the amount of assets and liabilities that are not readily apparent from other sources.

The Trustees have made no significant estimates or judgements in preparing these accounts.

Page 20

WORLD MONUMENTS FUND BRITAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

2. Analysis of Expenditure

Direct Costs
Project Expenditure
Fundraising
Support Costs
Staff costs
Legal and professional fees
Travel and entertainment
Education
PR costs
Other office costs
Depreciation		 Raising funds
Project
expenditure
Education
Total 2025
Raising
funds
Project
expenditure
Education
Total 2024
£
£
£
£
£
£
£
£
-
1,462,778
-
1,462,778
-
403,335
-
403,335
87,194
-
-
87,194
175,197
-
-
175,197
153,225
239,535
-
392,760
140,663
202,072
-
342,735
-
46,237
-
46,237
-
39,060
-
39,060
3,377
85,935
-
89,312
15,347
36,816
-
52,163
-
-
-
-
-
-
5,937
5,937
70,579
-
-
70,579
20,408
-
-
20,408
36,401
38,272
-
74,673
22,973
23,584
-
46,557
-
610
-
610
-
286
-
286
350,776
1,873,367
-
2,224,143
374,588
705,153
5,937
1,085,678

Staff costs, legal and professional and PR have been allocated according to the time spent on each during the year. Governance costs total £17,400 (2024: £16,710). Travel and entertainment costs have been allocated based on the expenditure category to which each cost relates.

Depreciation and other office costs have been apportioned to on the basis of staff time in each area of work.

Project expenditure includes direct financial support of £614,406 paid to Royal Botanical Gardens Kew in support of the Kew Gardens Project, £107,944 paid in support the Minette de Silva project and £614,140 to WMF New York, the parent company, in respect of funds raised in Britain in support of WMF Britain, as part of a global Endowment campaign. These funds will be held permanently within the investment portfolio of the parent company, with annual income allocations distributed to WMF Britain’s discretionary use.

Page 21

WORLD MONUMENTS FUND BRITAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

3 Total expenditure 2025 2024
Total expenditure is shown after charging: £ £
Auditors’ remuneration 17,400 16,710
Depreciation 610 286
4 Staff costs 2025 2024
Average number of employees during the year 6 6
Employees earning between £90,000 and £100,000 1 1
Employees earning between £60,000 and £70,000 2 -
2025 2024
£ £
Staff costs:
Wages & Salaries 345,854 303,716
Social security costs 30,111 29,381
Pensions and other Staff Costs 16,795 9,638
392,760 342,735

Key management personnel received employee benefits of £99,900 (2024: £92,010). The remuneration of Key Management Personnel is reviewed annually by Trustees.

5 Related party transactions and Trustees remuneration

Trustees received no emoluments (2024: £nil) during the year, nor were any expenses reimbursed to them.

During the year, Trustees made donations of £611,087 to the charity (2024: £293,600) of which £5,000 was restricted for Minnette De Silva, £100,000 was restricted for Strata Florida and £100,000 was restricted for Kew and £326,787 for Endowment (2024: £2,500 for Minette De Silva and £250,000 for Kew). Trustees made payments of £2,600 for the Escapade events (2024: £32,340 for tickets and auction lots at the Palace of Palms, Venice Escapade and Global Retreat events). During the year, 9 Trustees (2024: 9) were International Council members. Income in respect of this totalled £40,350 (2024: £39,451). At 30 June 2025 £22,00 was owed to the charity.

In the year, the charity recognised income of £783,583 receivable from World Monuments Fund New York, its parent charity. In the year £614,014 was paid into the World Monuments Fund New York’s Investment account for the Endowment Fund. At the year end the charity owed £250,000 to World Monuments Fund New York.

The Trustees are not aware of any other related party transactions during the year.

Page 22

WORLD MONUMENTS FUND BRITAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

6 Tangible Fixed Assets

Cost
Brought forward 1 July 2024
Additions
At 30 June 2025
Depreciation:
Brought forward 1 July 2024
Charge for the year
At 30 June 2025
Net book value
At 30 June 2025
At 30 June 2024		 Computer
Equipment
Furniture & Other
Equipment
Total
£
£
£
3,507
1,259
4,766
3,479
-
3,479
6,986
1,259
8,245
3,507
414
3,921
368
242
610
3,875
656
4,531
3,111
603
3,714
-
845
845

None of the above fixed assets are used for direct charitable purposes but all are used to support charitable activities.

7 Debtors

Other debtors
Prepayments & accrued income
Creditors: Amounts falling due within one year
Trade creditors
Tax and social security
Accruals
Other Creditors
Deferred Income		 2025
2024
£
£
49
29,024
298,443
144,310
298,492
173,334
2025
2024
£
£
Restated
83,198
25,385
11,588
10,985
408,131
157,188
749
4,028
52,887
4,015
556,553
201,601

8 Creditors: Amounts falling due within one year

Page 23

WORLD MONUMENTS FUND BRITAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

8 Creditors: Amounts falling due within one year

Creditors: Amounts falling due within one year
Deferred income
Brought Forwards
Received in the year:
Donations
Tickets for events held in 2025/26
Used in the year:
Projects
Deferred income carried forwards		 2025
2024
£
£
4,015
4,015
25,000
-
27,887
(4,015)
-
52,887
4,015

The deferred income relates to amounts received for an event to be held in July 2026 and a donation

specifically for the 2026 year. It is anticipated that this will be recognised during the 2026 financial year.

9 Share Capital

Share Capital
Authorised ordinary shares of £1
Allotted, called up and fully paid		 2025
2024
£
£
1
1
1
1

Page 24

WORLD MONUMENTS FUND BRITAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

11 Movements in restricted funds

Transfer
At 1 July Incoming Outgoing between At 30 June
2024 resources resources funds 2025
£ £ £ £
Restated
Algeria 20,872 - (20,872) - -
Amedi 7,248 - (275) - 6,973
Belfast Assembly Rooms - - (5,346) - (5,346)
Castle Howard 90,288 - 38 (2,500) 87,826
Coastal Connections 66,338 16,800 (128,737) - (45,599)
Coventry Cathedral 4,174 - (500) (3,674) -
Coventry Glass 50,151 - - (326) 49,825
CPF Evaluation 19,954 - (3,439) (16,515) -
CPF Lebanon 16,279 10,000 (25,690) 6,515 7,104
CPF Libya (500) 101,355 (68,980) (15,000) 16,875
CPF Stonemasonry 22,410 - (9,855) (2,500) 10,055
CPF Yemen 4,213 - (3,000) - 1,213
Development Events 7,490 - (7,490) - -
Endowment Campaign - 670,365 (614,140) - 56,225
Georgia 4,629 - - - 4,629
Kew 680,729 733,070 (650,798) (17,500) 745,501
Moseley Road Baths 1,834 - - - 1,834
Minnette De Silva (23,656) 115,824 (118,451) (7,500) (33,783)
St Georges Bloomsbury 46,510 - (363) (2,500) 43,647
Stowe - 3,015 (3,015) - -
Strata Florida 33,532 414,000 2,656 (25,000) 425,188
WMF India - 500,000 - - 500,000
Other Projects 778 4,561 (5,072) - 267
1,053,273 2,568,990 (1,663,329) (86,500) 1,872,434

Each restricted fund relates to a specific project. The 'Other Projects' category is an amalgamation of smaller accounts. Each restricted fund relates to a specific project. The 'Other Projects' category is an amalgamation of smaller accounts.

For the Belfast Assembly Rooms and Coastal Connections projects the negative balances will be covered by funding to be secured from income generated by the Mellon endowment for British Architecture held by WMF New York, the parent company. For the Minnette De Silva project the negative balance will be covered by a grant secured in June 2025.

Donations towards the organisation’s global endowment campaign were raised to benefit specifically the activities of WMF Britain. These funds will be held permanently within the investment portfolio of the parent company, with annual income allocations distributed to WMF Britain’s discretionary use.

Transfers between funds represent, on the whole, contributions from project funds towards in house staff costs and administrative overheads in accordance with cost allocations in project budgets, and project delivery schedules.

Page 25

WORLD MONUMENTS FUND BRITAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

11 Movements in restricted funds
Transfer
At 1 July Incoming Outgoing between At 30 June
Comparatives 2023 resources resources funds 2024
£ £ £ £
Restated Restated
Algeria 20,872 - - - 20,872
Amedi 8,760 - (1,512) - 7,248
Castle Howard 90,599 - (311) - 90,288
Coventry Cathedral 4,174 - - - 4,174
Coventry Glass 50,151 - - - 50,151
CPF Evaluation 37,200 27,410 (16,246) (6,000) 42,364
Development Events 7,490 - 7,490
Georgia 4,629 - 4,629
Coastal Connections/Hurst
Castle 156,061 - (64,723) (25,000) 66,338
India (7,184) 5,000 (4,146) 6,330 -
Kew 345,685 547,149 (194,355) (17,750) 680,729
CPF Lebanon 18,626 - (2,347) - 16,279
CPF Libya - 15,000 (13,000) (2,500) (500)
Moseley Road Baths 2,035 - (201) - 1,834
Minnette De Silva - 3,500 (19,656) (7,500) (23,656)
St Georges Bloomsbury 46,510 - - 46,510
Strata Florida 80,699 140,000 (167,167) (20,000) 33,532
CPF Yemen 7,213 - (3,000) 4,213
Other Projects 1,864 - (1,086) - 778
875,384 738,059 (484,750) (75,420) 1,053,273

Page 26

WORLD MONUMENTS FUND BRITAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

12 Unrestricted funds

General Fund
Designated Funds
Strategic initiatives
Comparatives
General Fund
Designated Funds
Strategic initiatives		 Balance 1 July
2024
Income
Expenditure
Transfer
Balance 30 June
2025
478,704
459,945
(560,814)
86,500
464,335
100,000
-
-
-
100,000
578,704
459,945
(560,814)
86,500
564,335
Balance 1 July
2023
Income
Expenditure
Transfer
Balance 30 June
2024
331,857
672,355
(600,928)
75,420
478,704
100,000
-
-
-
100,000
431,857
672,355
(600,928)
75,420
578,704

The Trustees choose to designate funds where they are to be used for a specific purpose, but where the expenditure has not been fully committed at the year-end. The Trustees are regularly considering options for strategic investment in activities and initiatives with the purpose of furthering the longerterm development of the charity.

13 Parent organisation

World Monuments Fund Britain UK is a wholly owned subsidiary of World Monuments Fund, an international organisation headquartered at 600 Fifth Avenue, New York, with worldwide network of affiliates. Affiliates are constituted under national law but refer to World Monuments Fund Board of Trustees in New York for consultation on policy decisions and advice on conservation programmes where necessary and are able to draw upon the expertise of their staff.

World Monuments Fund is a registered 501(c) (3) organisation (registered number is 13-2571900) with the mission to preserve historic landmarks and sites without regard to national boundaries. Consolidated Financial Statements can be accessed at https://www.wmf.org/finance .

Page 27

WORLD MONUMENTS FUND BRITAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

14
Statement of financial activities comparatives		 14
Statement of financial activities comparatives		 14
Statement of financial activities comparatives
Unrestricted Restricted
Notes Funds Fund 2024 Total
£ £ £
Restated Restated
Income from:
Donations 359,261 503,500 862,761
Income from fundraising events 181,830 - 181,830
Membership income 91,140 91,140
Investments 35,059 - 35,059
667,290 503,500 1,170,790
Charitable activities
Project grants and contributions 5,065 234,559 239,624
Total income 672,355 738,059 1,410,414
Expenditure on:
Raising funds 2 374,579 9 374,588
Charitable activities
Project expenditure 2 220,412 484,741 705,153
Education 2 5,937 - 5,937
Total expenditure 2 600,928 484,750 1,085,678
Net income 71,427 253,309 324,736
Transfer between funds 75,420 (75,420) -
Net movement in funds 146,847 177,889 324,736
Balance brought forward 1 July 2023 431,857 875,384 1,307,241
Balance carried forward 30 June 2024 578,704 1,053,273 1,631,977

Page 28

WORLD MONUMENTS FUND BRITAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

15
Balance sheet comparatives
2024
Notes Unrestricted Funds Restricted Fund Total
£ £ £
Restated Restated
Fixed assets
Tangible Assets 6 845 - 845
Current assets
Debtors 7 139,359 33,975 173,334
Cash at bank 508,793 1,150,607 1,659,400
648,152 1,184,582 1,832,734
Current liabilities
Creditors: amounts falling due within
one year: 8 (70,292) (131,309) (201,601)
Net current assets 577,860 1,053,273 1,631,133
Net assets 578,705 1,053,273 1,631,978
Represented by:
Share Capital 9 1 - 1
Restricted Funds 10 - 1,053,273 1,053,273
Unrestricted Funds 11 578,704 - 578,704
Total funds 578,705 1,053,273 1,631,978

Page 29

WORLD MONUMENTS FUND BRITAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

16 Prior period adjustment

Funds at 1 July 2023 as previously stated
Moseley Road Baths commitment
Funds at 1 July 2023 as restated
Funds at 30 June 2024 as previously stated
Moseley Road Baths commitment
Funds at 30 June 2024 as restated
Accruals at 30 June 2024 as previously stated
Moseley Road Baths commitment
Accruals at 30 June 2024 as restated		 Unrestricted Funds
Restricted Fund
Total
£
£
£
431,857
1,005,384
1,437,241
-
(130,000)
(130,000)
431,857
875,384
1,307,241
578,704
1,183,273
1,761,977
-
(130,000)
(130,000)
578,704
1,053,273
1,631,977
Creditors
£
27,188
130,000
157,188

During 2022, the charity committed £130,000 to Moseley Road Baths, this was not recognised as a liability at the time. The obligation existed during that period and the related works which the charity had pledged to fund has taken place. Following a review of historic commitments, the Trustees identified that this liability had been omitted from prior year’s financial statements. Accordingly, the comparative figures in these financial statements have been restated to reflect this obligation. The effect of this is that the opening restricted funds as at 1 July have been reduced by £130,000, and that the creditors have been increased by £130,000.

Page 30