GREAT GRIMSBY ICE FAcfoRY TRusr Company Number: 07990488 Charlty Number: 1146988 GREAT GRIMSBY ICE FAcfoRY TRusr (A company Ilmlted by guarantee) FINANCIAL sfATEMENTS for the year ended 31 MARCH 2024 Phoenlx Accountsncy and Business Consultsncy Limited GREAT GRIMSBY ICE FAcfoRY TRUST Company Number: 07990488 Chan'ty Number: 1146988 Contents to the Financlal Statsments for the year ended 31 March 2024 Page Company Informatlon Independent Examlners Report DIrecto￿, Report Income and Expenditure Account 11 Statement of Financlal Activities 12 Balance Sheet 13 ststement of Cash Flows 15 Notes to the Flnancial Statements 16 GREAT GRIMSBY ICE FAcfoRY TRusr Company Number: 07990488 Charlty Number: 1146988 Company Informatlon for the year ended 31 March 2024 Dlrectors Graeme Basset Victoria Hartung Roy Horobln David Pitcher - Reslgned 2710812024 Susan Pltcher - Resigned 2710812024 Emllie Wales Jonathan Wilcox Secretary Graeme Bassett Registered Offlce Great Grimsby I￿ Factory Trust l Bargate Court Grlmsby North East Lincolnshire DN34 SAX Registered Company Number Registered Charlty Number Independent Examlner 07990488 1146988 Katie Sauvage FCCA Chartered Certlfled Accountsnt Phoenlx Accountsncy and Buslness Consultancyi Morley's Cottage Morley's Yard Walkergate Beverley East Yorkshire HU17 9BY Bankers HSBC Bank 55 Vlctoria Street Grimsby DN31 IUX GREAT GRIMSBY ICE FAcfoRY TRusr Company Number: 07990488 Charity Number: 1146988 Independent Examlney's Report to the Members of Great Grimsby Ice Factory Trust I IEport on the accounts of Great Grimsby Ice Factory Trust for the year ended 31 March 2024, which are set out on pages 10 to 25. Respectlve responslbllltles of trustees and examlner The twstees (who are also the dwectors of the company for the purposes of company law) are responslble for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under *ction IH of the Charitl&s Act 2011 (the Charltie5 Act) and that an Independent examinatlon is needed. It Is my resp￿sibIlity to: examine the accounts under section 145 of the Charftles Art, to follow the procedures laid down in the general Direct,ions given by the tharity Commlsocion (under Section 145(5)(b) of the Charities Act, and to state whether particular matters have come to my attentlon. Basis of llndependent examiner's report My examlnation was carried out In accordance with general Dlrections glven by the Charlty Commlsslon. An examlnation indudes a review of the accouiitlng records kept ty the charity and camparlson of. t,he ac.counts presented with those records, It also includes consideratlon of any unusual items or dlsclosures In the accounts, and seeklng explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the wrfidence that would be required in an audit, and consequently rK) opinion is glven a5 to whether the accounts present a 'true and fair, vlew and the report is limit& to those matters set out in the st,atement bplow. Independent Examiner's statement In connection with my examlnatlon, no matter has come tu my attention to indicate that; accountlng records have not been kept in accordance with sectlon 386 of the Companles Act 2006, the accounts do not accord with such records: where accounts are prepared on an accruals basis, whether they fail to comply with relevant accounting requirements under sectlon 396 of the Companies Act 2006, or are not consistent with the Charities SORP (FR5102) any matter whlch the examlner believes should be drawn to the attentjon of the reader to galn a proper understandlng of the accounts. Katie Sauvage FCCA Chartered C£rtifled Accountsnt, Phoenlx Accountancy arKI Buslness Consultancy Limited Morlevs Cottage, Morley's Yard, Walkergate, Beverleyi HU17 9BY dlGttÉ v Date: 201,,1203ty GREAT GRIMSBY ICE FAcfoRY TRusr Company Number: 07990488 Charlty Number: 1146988 Report of the Board of Trustees (incorporatlng the Directors, Report) for the year ended 31 March 2024 The Trustees present their report with the financlal statements of the company for the year ended 31 March 2024. Irec st es: The directors of the charltsble company (the charity) are Its Trustees for the purpose as charty law throughout this report and collettively referred to as Trustees. The Trustees for the year are named on page 3. man Management of the bUsIn￿ during the year was undertaken by Vlctoda Hartung (Chair) and Graerne Bassett (Secretary) atting under delegated authorlty. ver vernl Great Grimsby Ice Factory Trust is a registered charty and a company Ilmited by guarantee governed by its Memordndum and Articles of A￿OCIatIon adopted on 14 March 2012 and amended by speclal resolution on 18 Aprll 2012. Every member of the Charity undertakes to contribute a maximum of £10 In the event of the charity winding up. itment nd a The Trustees are elected by the membership at the AGM. The Articles of Associatlon state that the number of trustees must not be less than three but not more than ten. ocum ent Tru is The board of trustees manages the Trust, and aims to conslder only strategic decisions at its meetings. Trustees are aware that any conflicts of interest are declared and mlnuted. The board of trustees meets not less than four times per year. Management of ongolng matters such as the Peterson's Project Is led by Victoria Hartungi wlth support from other board members as appropriate, according to their indlvidual sklll sets. GREAT GRIMSBY I￿ FAcfoRY TRusr Company Number: 07990488 Charity Number: 1146988 Report of the Board of Trustees (Incorporating the Directors, Report) for the year ended 31 March 2024 Risk Ma The board regularly revlews and manages the charivs speclfic slgnlflcant risks and the effect of these risks as part of the overall governan￿ program. vean ttiv es As set out In the Memorandum of Artlcles, the Trusvs objectives are: To preseNe for the benefit of the public, the historlcal, architectural and construttlonal herltage that may exist In and around Grimsby, Cleethorpes or North East Lincolnshlre of partlcular Beauty or historical, archltectural or construttional interest in particular the Grimsby I Factory and to advance educatlon of the publlc In the hlstory and heritage of the I Factory. Main o 'ves for h f Ilowln Continue with work on ￿￿.thekasbah.Co.Uk. Continue with plans for the delivery of the Peterson's project, bringlng back Into use a Ilsted smokehouse and one additional commerclal buildlng in the Kasbah-on- Grimsby Docks. chi en Perform eview ties 2024 The Great Grimsby Ice Factory Trust cornmunity board of trustees are satisfied, having reviewed the business, that in the past ￿e1ve month's perlod (April 2023 - March 2024): Our worf< has reflected our alms. Our resources are well managed. The public were satisfies with the service they received. In achl ve eTr uri th Su The following Is a summary of the main activities provided, enabled or supported by the Trustees having pald due regard to the gUIdan￿ on public benefit issued by the Charlty Commission. GREAT GRIMSBY ICE FAcfoRY TRusr Company Number: 07990488 Charity Number: 1146988 Report of the Board of Trustees (incorporating the Directors, Report) for the year ended 31 March 2024 ICE FAcfoRY Although we have no legal Interest in, or flnancial responslbility for the buildlng, we continue to report to trustees on the progress of the Grlmsby Ice Factoryi whlch was purchased freehold from Assoclated British Ports by Tom Shutes in 2021. Work has begun on the restoratlon of the Ice Factoryi beginning wlth the Garage or Boiler House as the most accessible part of the buildlng. Planning permi&qion has been granted for the buslness ￿ntre and hotel, and Mr. Shutes awaits a decision on hls application to build more office spa￿S around Number 2 Dock, whlch will be available for wild swimmlng. THE KASBAH The PSICA grant scheme, funded by NELC and Historic England has been a great success, and encouraged (admittedly somewhat Intrepid) individuals and organlsatlons to tske on buildings or work on the ones theY￿e got. There have been 17 grant awards involving 24 buildings. WEI Heritsge has taken on between 9 and I I sites, Creative Stsrt is expandingi and there is currently another organisation In lease negotiations with ABP for some buildings on Flsh Dock Road. Another Heritage Open Day took place In September 2023, again well attended. Heritage Llncolnshlre had a marquee outside Building 89 and collected oral memories, some of which were very Interestingl PETERSON'S PROJECT sIn￿ the contractors started on slte last March there have b￿n a number of delays to the programme, due to discoveries such as asbestos, dry rot, damp .. also a main roof beam In Building 89 that had to be relnfortrd, and so on. These issues were not entlrely unexpetted given the age and condltlon of the buildings. A major delay was caused by the electriclans who were very slow to agree changes to their contra¢ and then took thelr time to stsrt on site. Prattlcal completion was due to have been in De￿rnber 2023, but has now been moved to June 2024. Completlon of the entlre project, including the Evaluatlon and other loose ends, has been agreed wlth NLHF for December 2024. FINANCIAL REPORT Costs contlnued to increase over this year, as more problems were discovered (see alx)ve). It was again looking likely that we would run out of cash but Historlc EnglandlNELC came up with £20,000 extra from PSICA and we successfully applled for £20,000 from the UKSPF via NELC from thelr 202312024 programme. In February of thls year we successfully applied for a further £37,400 from UKSPF 202412025 to flt out the Ground Floor of bulldlng 89, whlch had been omitted In an effort to cut costs, SO Vle are now In a positlon to complete both bulldings ready to sulFlet. GGIFf's bank balance stood at £203,257.48 as of 31, March 2024, whlch includes £1,304.28 in unrestrlcted funds, and £1,250 reserved for maintsining the Kasbah webslte. GREAT GRIMSBY ICE FAcfoRY TRUST Company Number: 07990488 Charity Number: 1146988 Report of the Board of Trustees (incorporating the Dlrectors. Report) for the year ended 31 March 2024 es rves Poll In line wlth our pollcy, all reserves wlll be carried forward to sustaln the Trust In future years and to allow expansion of the activities whlch the Trust supports and cares for. Trustees are mindful that the building Is dated and may require slgnificant modiflcation in the longer term. Reserves will need to be built up to cope with the major repairs and renewals and to pay staff wages durlng consequent periods of reduced income. ri rces Our princlple fundlng SoUr￿S for the year under review were as follows: Natlonal Lottery Heritsge Fund £435,567.00 Architettural Heritage Fund £257,009.00 North East Llncolnshire Council £53,000 pi Complete the Peterson's Project, secure sub-tenants, and employ adminlstratlve help. Continue to update and expand Informatlon on the kasbah website Continue to work In partnership wlth Associated British Ports, North East Llncolnshire Council and Historic England to promote the regeneratlon of the Kasbah Con*rvation Area. GREAT GRIMSBY I￿ FAGfoRY TRusr Company Number: 07990488 Charity Number: 1146988 Report of the Board of Trustees (Incorporating the Dlrectors, Report) for the year ended 31 March 2024 ure of sta ento tion ende min We, the Dlrectors of the thmpany who held office at the date of approval of these flnanclal statements, conflrm so far as we are aware, that: l. There is no relevant Information of which the company's independent examlner is unaware; and 2. We have tsken all the steps as required of us as directors in order to make ourselves aware of all relevant informatlon expected of us and to establish that the company's Independent examiner Is aware of that Infomation. f dlre onsl 'res The charlty Trustees (who are also the dlrectors of Great Grimsby Ice Factory Trust for the purposes of company law) are responslble for preparing a Trustees 'Annual Report and financial ststements In accordance with applicable law and United Klngdom Accountlng Standards (United Kingdom Generally Accepted Accounting pract1￿). Company law requires the charity Trustees to prepare flnancial statements ft)r each year whlch give a true and ftlr vlew of the state of affairs of the charitable company and of the incoming reSoUr￿S and application of resources, includlng the income and expenditure, of the charitsble company for that period. In preparing the financial ststements, the Trustees are required to: select sultable account1ng policies and then apply them consistently; observe the methods and principles in the Charlties SORP; make judgements and estimates that are reasonable and prudent; state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explalned in the financlal statements. prepare the flnanclal statements on the going concem basis unless it is Inappropriate to presume that the charity will contlnue In business. The Trustees are responslble for keeping proper accounting records that disclose wlth reasonable accuracy at any time the financial posltion of the charity and to enable them to ensure that the financial statements comply with the Companles Act 2006. They are also responsible for safeguardlng the assets of the charity and hentr taking reasonable steps for the preventlon and detettion of fraud and other irregularlties. The Trustees are responsible for the maintenance and integrity of the corporate and financlal information included on the charitable company's webslte. Legisladon in the United Klngdom goveming the preparation and dissemination of flnancial statements may dlffer from leglslation in other jurisdlctions. GREAT GRIMSBY ICE FAcfoRY TRusr Company Number: 07990488 Charity Number: 1146988 Report of the Board of Trustees (Incorporating the Directors, Report) for the year ended 31 March 2024 ent Iner nde Katie Sauvage FCCA, Phoenlx Accountancy and Business Consultancy Ltd has been appointed as Independent examiner for the current year. isio This report has b￿n prepared in accordance wlth the speclal provlsions of part 15 of the companles Act 2006 Rec ed Practl The accounts comply with the Charlties SORP (FRS102) 'Accounting and reporting by charlties 2019. men ij By order of the board Vlctoria Hartung, chaimian Trustee/Dlrector Date: 10 GREAT GRIMSBY ICE FAcfoRY TRusr Company Number: 07990488 Charity Number: 1146988 Income and Expenditure Account for the year ended 31 March 2024 Note 2024 2023 INCOME EXPENDrruRE OPERATING (DEFIcrr)ISURPLUS INVESTMENT INCOME (DEFIcrr)/SURPLUS FOR THE YEAR RESERVES BROUGFff FORWARD RESERVES CARRIED FORWARD Total income (including Investment Income) of £745,622 (2023: £196,634) comprises £46 (2023: £68) for unrestrltted funds and £745,576 (2023: £196,566) for restricted funds. A detailed analysis of Income by source is provlded in the ststement of financial attlvitie5. The surplus for the year of £7,017 (2023: deflcit £132,189) comprises a deficlt of £336 (2023: deficlt £1,305) for unrestrirted funds and a surplus of £7,353 (2023: surplus £134,188) for restricted funds as shown In the Statement of Financlal Attivities. There are no recognised galns and losses other than those passing through the Income and expendlture accounts. The Income and expenditure account has been prepared on the basls that all operatlons are contlnuing operatlons. The notes on pages 16 to 25 form part of these flnancial statements. 3&4 745,622 (738,605) 7,017 196,634 (63,751) 132,883 7,017 132,883 10 139,559 146 576 6,676 139 559 10 11 Ill- O a) i%1£ ka£ i Rii. 91,: 111. Ill- 11113 1111 1 2 1 86 ￿v Etgi50 ,J&ll 511 li ali J3155 a) VJ £ccc 8gss(g 11 15$ 11 1 IU (n fo CLaJQ è8 i* IEg OTJ a> °1¥ li }}1 (U QI O rs 1111 li ii, a) ca)c (u£ ffj E 88.:£ E8T5 .? Illl I, 11- 412- 1 ia-l! I 1115 1151111 QLn 12- Cn*(fJ Lnm LnLn r> LntrcThN I l COCOALn Y4fNThJ i ￿￿o￿T4 1 (V ID c c ILc£(gLn8'E