GREAT GRIMSBY ICE FAGFORY TRusr Company Number., 07990488 Charity Nurnber: 1146988 GREAT GRIMSBY ICE FAcfoRY TRUST (A company limited by guarantee) FINANCIAL sfATEMENTS for the year ended 31 MARCH 2025 Phoenix Accountancy and Business Consultancy Limited GREAT GRIMSBY ICE FAcfoRY TRusr Company Number: 07990488 Charity Number: 1146988 Contents to the Financial Statements for the year ended 31 March 2025 Page Company Information Independent Examiners Report Directors, Report Income and Expenditure Account 10 Statement of Financial Activities 11 Balance Sheet 12 statement of Cash Flows 13 Notes to the Financial Statements 15 GREAT GRIMSBY ICE FAcfoRY TRUST Company Number: 07990488 Charity Number: 1146988 Company Information for the year ended 31 March 2025 Directo Graeme Bassett Victoria Hartung Roy Horobin Emllie Wales Jonathan Wilcox Secretary Graeme Bassett Registered Office Great Grimsby Ice Factory Trust l Bargate Court Grimsby North East Lincolnshire DN34 SAX Registered Company Number 07990488 Registered Charity Number 1146988 Independent Examiner Katie Sauvage FCCA Chartered Certified Accountant Phoenix Accountancy and Business Consultancy, 4-6 Roberts Street Scunthorpe North Lincolnshire DN15 6NG Bankers HSBC Bank 55 Vittoria Street Grimsby DN31 IUX GREAT GRIMSBY ICE FACFORY TRUST Company Number: 07990488 Charity Number.. 1146988 Independent Examiner's Report to the Members of Great Grimsby Ice Fartory Trust I report on the accounts of Great Grimsby Ice Factory Trust for the year ended 31 March 2025, which are set out on pages 10 to 25, Respective responsibilities of trustees and examiner The trustees (who are also the direttors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under settion 144 of the Charities Act 2011 (the Charities Att) and that an independent examination is needed. It is my responsibility to.. examine the accounts under settion 145 of the Charities Att, 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 report 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 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 to indicate that; accounting records have not been kept in accordance with section 386 of the Companies Att 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 settion 396 of the Companies Act 2006, or are not consistent with the Charities SORP (FR5102) any matter which the examiner believes should be drawn to the attention of the reader to gain a proper understanding of the accounts. Katie Sauvage FCCA Chartered Certified Accountant, Phoenix Accountancy and Business Consultancy Limited 4-6 Roberts Street, Scunthorpe North Lincolnshire, DN15 6NG Date; 1111212025 GREAT GRIMSBY ICE FAcfoRY TRUST Company Number: 07990488 Charity Number: 1146988 Report of the Board of Trustees (incorporating the Directors, Report) for the year ended 31 March 2025 The Trustees present their report with the financial statements of the company for the year ended 31 March 2025. Direct rs nd Trustees: The directors of the charitable company (the charity) are its Trustees for the purpose as charity law throughout this report and collectively referred to as Trustees. The Trustees for the year are named on page 3. Da toda mana ement of the chari Management of the business during the year was undertaken by Victoria Hartung (Chair) and Graeme Bassett (Secretary) acting under delegated authority. Structure G nc ement Governin document: Great Grimsby Ice Factory Trust is a registered charity and a company limited by guarantee governed by its Memorandum and Articles of Association adopted on 14 March 2012 and amended by special resolution on 18 April 2012. Every member of the Charity undertakes to contribute a maximum of £10 in the event of the charity winding up, Recruitment and a ointment Trustees The Trustees are elected by the membership at the AGM, The Articles of Association state that the number of trustees must not be less than three but not more than ten. Or anisational structure The board of trustees manages the Trust, and aims to consider only strategic decisions at its meetings. Trustees are aware that any conflicts of interest are declared and minuted. The board of trustees meets not less than four times per year. Management of ongoing matter5 such as the Peterson's Projett is led by Victoria Hartung, with support from other board members as appropriate, according to their individual skill sets. GREAT GRIMSBY ICE FAcfoRY TRUST Company Number: 07990488 Charity Number: 1146988 Report of the Board of Trustees (incorporating the Directors, Report) for the year ended 31 March 2025 Risk Mana ement: The board regularly reviews and manages the charity's specific significant risk5 and the effect of these risks as part of the overall governance program. 'ective and Attivities As set out in the Memorandum of Articles, the Trust's objectives are: To preserve for the benefit of the public, the historical, architectural and constructional heritage that may exist in and around Grimsby, Cleethorpes or North East Lincolnshire of particular beauty or historical, architectural or construrtional interest in particular the Grimsby Ice Fattory and to advance education of the public in the history and heritage of the Ice Factory. Main ob'ertives for the followin ear: Secure sub-tenants for Peterson's Smokehouse and Building 89. Achievem nts Perf rm nce Review of attivities 2024 - 2025 The Great Grimsby Ice Factory Trust community board of trustees are satisffied, having reviewed the business, that in the past twelve month's period (April 2024 - March 2025); Our work has refletted our aims. Our resources are well managed, Summa of the main achievements f the Trust durin the ear: The following is a summary of the main attivitie5 provided, enabled or 5UPPOrted by the Trustees havlng paid due regard to the guidance on public benefit issued by the Charity Commission. ICE FACTORY All planning permissions are now In place for the Ice Factory, and Tom Shutes's current estimate is that construction will commence in May of this year. Mr. Shutes has rented a permanent site office space at Creative Start, for the use of his project management team. 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 2025 THE KASBAH Good news this year is that the PSICA grant scheme has been extended, which is encouraging people to take on more buildings, Also, ABP'S engineers have completed a survey of all unoccupied buildings, and steps are being taken to gradually make them safe. Gorton Street will be closed during construction on the Ice Factory, so access to the Kasbah will be directly via Fish Dock Road, avoiding the security gate. This is to be a permanent change to the trafffic pattern, and should be in place by May 2025. There was another successful Heritage Open Day in September 2024, organised by ABP and Stella Jackson of NELC, and our buildings had over 700 visitors. PETERSON'S PROJECT Practical Completion was at last achieved in September 2024, and the remaining details such as the Evaluation Report and final grant claims submitted by December, as agreed. Also in September we held a formal launch of the project, which was attended by a small but very distinguished group of fundersi partners and stakeholders. Emilie Wales gave the welcoming address. In June 2024 Building 89 hosted a fringe event as part of Grimsby's Festival of the Sea. Artist Annabel Mccourt had taken four of the original chimney cowls from Peterson's and used them to make an interactive art work. Combined with some large scale paintings the exhibition was titled"Up In Smoke" It looked amazing in the ground floor space. On the same day, Heritage Lincolnshire were stationed in Peterson's, continuing the Oral History piece of the Activities. In September 2024, as part of the Heritage Open Day, another exhibition was staged in the ground floor of Building 89, of works by artist Sarah Webb, On the same day, visitors could see the results of the Oral History project, displayed as interattive boards on the doors of the smokehouses in Peterson's. Since Completion, the buildings have been listed for rent with Clark Weightman. Unfortunately we had not, by the end of this year, managed to secure tenants, although there continues to be serious interest in Building 89. Opportunities to secure a tenant for the smokehouse were lost due to the delays in the projert (caused not just by issues with the buildings, and contrattors, delays, but also by the necessity of finding significantly more funding after Brexit and Covid), and given the current situation within the smoking industry, prospects don t look very good. A meanwhile use would help by keeping the building occupied, but a condition of the NLHF grant was that the building continue to be used as a smokehouse. Therefore any change of plan would have to be permitted by NLHF, and I don't think we are quite there yet. GREAT GRIMSBY ICE FACFORY TRUSF Company Number.. 07990488 Charity Number: 1146988 Report of the Board of Trustees (incorporating the Directors. Report) for the year ended 31 March 2025 FINANCIAL REPORT On 31st Narch, 2025 our bank balance stood at £18,234.45, £15,816.30 of which is attributable to the Peterson's Project. The short to medium term financial situation for Peterson's looks like this: Flnal NLHF grant payment expetted £44,861.27 Sub-total £60,677.57 AHF final loan repayment £21,000.00 Retention Rudkins £28,685.30 Accountancy £1,500.00 Balance £9,492.27 Building insurances are paid up until December 2025, and our Public Liability Insurance until April 2026. We have, therefore, a little under £10,000 in hand to cover legal and estate agent fees for letting the buildings, ongoing utility bills, and any repairs and other expenses until we have established a regular income. Financial Review Reserves Polic In line with our policy, all reserves will be carried forward to sustain the Trust in future years and to allow expansion of the attivities which the Trust supports and cares for. Trustees are mindful that the building is dated and may require significant modification in the longer term. Reserves will need to be built up to cope with the major repairs and renewals and to pay staff wages during consequent periods of reduced income. GREAT GRIMSBY ICE FAcfoRY TRUST Company Number: 07990488 Charity Number,, 1146988 Report of the Board of Trustees (incorporating the Dirertors, Report) for the year ended 31 March 2025 Princi al F Sources Our principle funding sources for the year under review were as follows: National Lottery Heritage Fund £326,988 Architectural Heritage Fund £5,000 North East Lincolnshire Council £39,400 Plans for future eriods Secure sub-tenants and employ administrative help. Continue ta update and expand information on the kasbah website Continue to work in partnership with Associated British Ports, North East Lincolnshire Council and Historic England to promote the regeneration of the Kasbah Conservation Area. Statement of discl re of information to inde endent examiner We, the Directors of the Company who held office at the date of approval of these financial statements, confirm so far as we are aware, that: l. There is no relevant information of which the company's independent examiner 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 information expected of us and to establish that the company's independent examiner is aware of that information, Statement of irectors, res onsibilities The charity Trustees (who are also the direttors of Great Grimsby Ice Fattory Trust for the purposes of company law) are responsible for preparing a Trustees 'Annual Report and financial ststements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prartice). Company law requires the charity Trustees to prepare financial statements for each 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 the financial ststements, the Trustees are required to: select suitsble 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. GREAT GRIMSBY ICE FACTORY TRUST Company Number.. 07990488 Charty Number: 1146988 Report of the Board of Trustees (incorporating the Directors, Report) for the year ended 31 March 2025 St tement of tinu state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concem basis unless it is inappropriate to wesume, that the charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply wtth the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detettion of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information induded on the charitable compan,y's website. Legislation in the United Kingdom governing the preparation and di)semination of financial statements may differ from legislation in other jurisdictions. t Examiner Katie.Sauvage ￿cA, Phoenix Accountsncy and Business Consultancy Ltd has been appointed as independent examiner for the current year, Small com an rovision This report has been prepared 'in accordance with the special provisions of part 15 of the companles Act 2006 statement f Rec edP The accounts comply with the Charities SORP (FRS102) 'Accounting and reEY)rting by charities 2019. By order of the board chairman victoria Hartungi .. TruSt￿lDIreCtor Date; 11 20 LS io GREAT GRIMSBY ICE FAcfoRY TRUST Company Number: 07990488 Charity Number: 1146988 Income and Expenditure Account for the year ended 31 March 2025 Note 2025 2024 INCOME 3&4 371,888 (517,932) (146,044) 745,622 (738,605) 7,017 EXPENDITURE OPERATING (DEFICIT)/SURPLUS INVESTMENT INCOME (DEFICIT)/SURPLUS FOR THE YEAR RESERVES BROUGHT FORWARD (146,044) 7,017 10 146,576 532 139,559 146,576 RESERVES CARRIED FORWARD 10 Total income (including investment income) of £371,888 (2024: £745,622) comprises £500 (2024: £46) for unrestricted funds and £371,388 (2024: £745,576) for restricted funds. A detailed analysis of income by source is provided in the statement of financial activities. The deficit for the year of £146,044 (2024: surplus £7,017) comprises a surplus of £96 (2024: deficit £336) for unrestricted funds and a deficit of £146,140 (2024: surplus £7,353) for restritted funds as shown in the Statement of Financial Activities, There are no recognised gains and losses other than those passing through the income and expenditure accounts. The income and expenditure account has been prepared on the basis that all operations are continuing operations. 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