2023-10-31-accounts

REGISTERED COMPANY NUMBER: 07825870 (Engl•nd and Wale¥) REGISTERED CHARITY NUMBER: 1148237 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 FOR HISTORIC COVENTRY TRUST Daffem8 LLP Chartered Accwntants Statutory Auditor One E8strKJod Hary Weston Road, Binley Business Parf( Cov8nty CV3 2UB

HISTORIC COVEpifRY TRUST CONTENTS OF THE FINANCIAL STATEMEP for the year ended 31 October 2023 P•g• ChairnMn'$ Roport 1 to 2 Roport ofthg Tr￿ts 3 to 9 Roport of the Indopondont Audltorn 10 to 13 8tatoment of Flnanchl Actlvttl•s 14 8alJnce Sho•t 15 C••h Flow St•tom• 16 Not8• to tha Cash Flow Statom￿t 17 Nots8 to Iho Flnancl•l Statom•nt• 18 to 29

HISTORIC COVENTRY TRUST CHAIRMAN'S REI>ORT for the year end8d 31 October 2023 This has been an intense year of activity during whith the Twst has continued to red￿ fo¢us on delivery of restorattin projects and direct its attentKJn to the managenEnl of rts ¢unpleted prc4.ects to ensure the financial ¥u$tainabilty of organlsation. The highlight of the year was undoubtedly the completion of the Charterhouse project and the official openirYJ by our Prosidenls, the Lord Lieutenant and the Lord Mayor, on 30th March 2023. The saving of this excepts'onal building, founded by Richard 11 in 1385, was the core reason for the founding of the charity in 2011. Over 11 year later and al an overall cost in excess of £10m, the doors could finally be opened, and we were ready to welcome the public. The reslor81ion of Charterhou5e has not been easy and on behaff of the Trusle8s. I would like lo thank the many people that hav8 worked on the project and supported us throughout the years. In particular I would lika lo thank National Lottery Heritage Fund and Coventry Cty Cwn¢il foT their solid support throughout project but particularfy in response lo the challenges of the pandemic and constructiorb CO81 infialion. short￿ before the start of the year we welcomed our new Executive Director, Anne Cranston. Anne led a btg effort that involved all the staff lo prepare Charterhouse for opening. The TnJ5t had nèvèr Intended to run the Charterhouse diredly and looking back now ff wa¥ a challenging task for a learn with little experience of setting up a new visitor attraction. 11 was ￿h¢eVed $ucce¥sfv1ty, btrt il 8180 diverted staff from other prioriUe3 lar the six months before and after opening. Whilst the primary fr￿u8 during the year was on setting up and opèrating our completed buildings. we did 8180 deliver the fabric resloralion of important buildings with Support from Historic Eng18nd and Architectural Heritage Fund. Grade 2. Listed Vvhrtefnars Gale, was built in the late 13008 as the gate lo Covenlry's Carmelite Monastery. Thi8 much-loved buikling was for many years the city's Toy Museum and bizarrely made the national pies8 in 2014 when Someone noticed rts ￿n￿nnY r¢$emblance lo comedian Alan Carr. The other buikJing was the Nonconfomiist Chapel in London Rd Cemetery which is also Grade 2. Li31ed and was designed by Joseph Paxton. This neoclassical chapel is a major feature of the Grade 1 Listed cemetery, which is one of the lop five in the country. The Trust already owns the Anglican Chapel which f( operalos as a c¢)mmunty venue for hire. We al80 run an activity and volunteering programrne in the cemetery supported by the Herrtage Fund. The in4eplh ￿Search of our volunteers into the lives of those buried in the cemetery has uncovered fascinating and forgotten 5torie8 of the past. The restoration ol both buildings was limited lo the external envelop8 only, wlh further funding required for the Trust lo bring these buildlngs back into U8e. The buildings remain in the ownership of Coventry Cty Council but are intended lo be transfetyed to the Trust once funding for 5usl8inable reuse Is yecured. Just after the year end, we also started work on the 8ecorKi phase of the Loop Line wotsJl8nd cycling ar walking path fundeil by Sevorn Trènt Communty Fund. Work completed in June 2024 on Ihls 300m 8ectlon. with the final phase now being worked up wrth the Council and our Herrtage Park partner, John Muir Trust. We were very pleased lo develop our partnership wrth John Muir Trust during the year and welcome the subslanlial expertise and resource that they bring lo our plans lo improving community acce8s lo this wildlrfe rich area. When c￿nPleted the full 1km L¢)Dp Line will eonnect the Heritage Park wi(h the surrounding communrties and Provide aleisure ￿￿0dlaThd walk forvisitor3 to Chart8thouse. 0￿ratIOnal Chall6ng68 In the latter part ol Ihg year and in the Gubsequenl months, the Trust has taken action lo stem operating e and boost revenue to achieve financial sustainability. The combinalKJn of extemal factor8, such as the pandemic, Ma1￿ conslrudion cost inflation and the rise in utility costs have made this a challenging lime for all organisations. In this diff￿ult clirnate and resuking from the Con￿ntration of project delivery for Cty of Gullure 2021. the Trust has in effect been starting up new business on muKiple siles over a short period of li￿￿. Yel meanwhile the generous grant $4JPPOrt that we had ¥￿e1Ved as a Start-up Heritage Deveknpment Trust for wre central staff has expired. At c*Jr tsvo major public bulldings, Drapers. Hall and Charterhouse. the operating Gosts wwe higher than expected éue to inflation, and particularty Ihe increase in energy costs. Effective business planning and management ot expenditure ha5 been incwdibly difficult due to overbilling on new accounts by the utilty companies and the almost impossible exercise of raty'onalising their accounts and securing credtts back foT overpayments. Meanwhile inccme from hires and paying visitors ha$ l)een kmer than budgeted refiecting the drfficutties in the leisure sector. P4e1

HISTORIC COVENTRY TRUST CHAIRMAN'S REPORT for the year ended 31 October 2023 At Drapers, Hall. since ¢ompbtion of the restorati￿ works, we have been operating the building ours*s as muKi-purpos8 venue, alongsido Coventry Music Semce Ipart of the Councill as our eore occupvér. The lease to CMS is inclusive of the building's running costs and utilities. with this indusive rent not covering the costs. Meanwhile their use from Monday to Wednesday has severely hampered corporate btsokings on these key workdays. Agreement ha9 been reached for the lease to be lemiinaled in Juty 2024, which will stem the losses. Thls allows 8 relaunch later in 2024 with a new external specidist venue management partner with the expertise to grow the business over a longer lem. Al Charter￿￿$e, as Is Common many herit&ae attracticffls we dosed the building for the winter in November 2023 and scalèd back on staffing to cut costs. Meanwhile we have been continuing conversattons with major national heritage partners lo tske on the operation of the building, reverting lo our onginal plan. The Trust believes that the draw of a national organisation will bring in sufficient visrtors to make the Charterhouse site sustainable. Discussions aftef the year end seem likety lo reach a positive conclusion in the Autumn cl 2024. In the interim the reduced team have concentrated on volunteering and events, with redwd op8ning at weekend5 since Easter 2024. There has been a positive change loo in the management of the visrtof accommodation at Swanswell Gate and 34 Priory Row. During the year we agreed an early lemiination of the operating 8greemenl with our foThner partner that was prcxlucing Ios8e8 r8lher Ih8n net revenue to the Trust. In March 2023 we entered into new agwmenl with fixed ren181 payments that ncw produce a signrficant net Tevenue to the Trust. The hifing of these attractive properties for visf(or short stays is doing well and adds considerabty lo the cty'$ visitor offer. Simi18rly on Dr￿ar5, 88r, the forner man8gernenl agreeffEnt with the Iralning restaurant, whKh was not generating any revenue, was leminaled just after the year end. This prominent unil w88 immedialety relet lo The Yard, th8 city's premier LGBTQ+ venue 0￿rator, on a fixed rental arrangement and again is addlng styJnificantly to the cashfflow. We are pleased that this resour¢g for the communty can now successfvlty continue after demolition of their previous premise8 lorthe Cty Centre South d¢v6lopmenl. The core revenue generating properties at the Burges and Hales Street continue to perform well, reflecting the $ignifitsnl improvement to the area following the f￿ade improvements undertaken by the Trust as part of the High Street Hgrilag8 Action Zone programme which completed in 2022. Rental income has increased through active management and wherè possible lease6 are being restructured lo include service charge prowsions, ensuring funding for futur8 m81nten8nce. The final elomenl of thè Burps HSHAZ programm, fvnded by Historic EnglarKI, involves the d&culverting of the River Shert>oume in Palmer Lane lo create a new public square. Th8 plans to improve one of tho cty'8 old¢sl str¢èts has been a community aim for over 30 years. This forgotten backland are8 was a focu8 for anti.socLal behaviour and will be Iransfonned as a new public space where people for the first lime can connect wrth th8 city's river. The Trust has plans lo capitalise on this inveslrnent wrth the creation of ngw café units when funding has bagn secured. The £2.4m public realm works are being undertaken by the Council In partnership with the Trust. Thé project had been signfficanlly delayed. but l am pleased lo report that the rks aro now well underway with completion in the latter months of 2024. Tre operation of our completed project8 Is key lo the Trusfs long-lerm suslalnabilty, with the need to g8nerale gnough revenue to cover both overhead costs and also lo build up re5erve8 for future buihging maintenance. The Trust als0 aims to gwe our buildings a real purpose for the community, to engog8 people th their heritage and lo add lo the city's efforts lo ￿)0$1 the visitor Konomy. The target has a￿ayS been lo achieve a balance betsyeen financial sustsinabilty and community purpose. wtth 80me buiKlings working financially harder than others. During the year the Trust has faced financial challenge5 t￿ operating ils completed buildings. We have reacted swrftly lo C￿ costs and have reduced our core staffing with the work being undertaken by the volunteer trustees. Wrth this lower o)sl basg and with the substsnlial pr¢yJress made in re5truciuring the management of the individual bLJildings during the year and after the year etNJ, l am pleased lo say that the Trust is well on the road lo long temi sustainability. lan Harrabin MBE MRICS Chairnwn Page 2

HISTORIC COVENTRY TRUST (REGISTERED NUMBER: 07825870) REPORT OF THE TRUSTEES for the year endgd 31 October 2023 The trustees who ate also directors of the charity for the purposes of the Companie5 Act 20C6, present their report with the financial statements of the charity for Ihe year ended 31 October 2023. The Iruslee5 have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Pract applicable to charth'gs preparing their accounts in accordance with the Financ￿1 Reporting Standard applicabl8 in the UK and R8public of Ireland IFRS 1021 (effective 1 January 20191. The principal objective of the Twsl t8 Io preserve for the benefit of the peopL2 of Coventry and of the Nation, the historical, 8rchileetural and conslwctional heritage that may exist in and around Coventry in buildings and other public amenities (including any structure or erection and any part of a building as so defined) of parts'cular beauty or hislortcal, architectural or constructional interest and any works of art or other f(ems of historic value wth Ih08e bu￿dir￿￿9 or public amenities.. OBJECTIVES AND ACTIVITIES Oblectlvgs and alms Historic Coventry Trust is an enlr8preneurial heriiage devolowienl Iw8t, wh￿h aim$ lo bnn9 new lrfe lo the city's herrtage, finding innovative ways to sustain histor￿ places and to inspire, involve connect people wkh the cty's history. The ground-breaking Framework Agreement befvleen the Trust and Coventry City Council remains the loundalion of our work to unleash the potenlk91 of these und¢rusJ historic places to grow ciwc pride, gen8rat¢ jobs. stimulate thè economy and provide communty bgnefil. Signed in April 2019, the Agreement sets out the transfer of 22 historic Properties lo the Trust once d8tailed plans for repair and reuse are in place. The Agreement expired in Dat￿ber 2022. bul there 18 a 2 year extenskJn in placa to Decembgr 2024. We have a deep and genuine partnershlp whh Coventy Cty Council and we ore indebted lo Membgrs and Officers for their unslinling support. or the 22 prqjerties on the Framework, all bLrt three have now been transferred lo tho Trust. Two of the remaining three ILondon Road Cemetery's Nonconfomiist Chapel and Whbtefriars. Galel havo b¢en the subject of major fabric works this year, thanks to generous grant8 from Hi5toriG England and the Architectur81 Heritage Fund alongside funding from the Council. The heritage devglcpm•nl tN$l ¢oncept Is one th81 continues 10 9ath8r momentum r￿tional￿. Herflag8 develciment trusts share a unfying commitment lo the reimaging, repair, and reu8e of historic buiklings of value to their ccfflmunty, They are. Mutti-building developers.. acquiring and man8ging a portfolio of heritage 8888ts, lo create an econom￿allY sustainable m<xlel through their revenue-raising potential., - Communty-based partnerships.. arising ftom the need8 of their communty. and wothing in cbse partnership with local pecple, loc81 government and kxal business., and Entrepreneurial & Not for Proff(.' reinvesting their surpluses in devel¢¥rnenl, and Cfeatiry add￿1￿81 economic.social, environmèntal and euftural value for their communities. Following this them& of innovation, the Historic Coventry Trust team has been privileged lo continue sharing our work. experience and lessons learned with ministers, govemrnent agencies, local authorities and third sethr organl58ti￿5 overlhe year. Pa3e 3

HISTORIC COVENTRY TRUST (REGISTERED NUMBER: 078258701 REPORT OF THE TRUSTEES for the year andgd 31 October 2023 OWECTIVES AND ACTIVITIES Events and actlvltles Charterhouse The opening of Charterhouse with 'Charterhou8e unlocked, from 1 April 2023 was the highlight of the calendar year and the f¢xus of much of the team's efforts. The opening wa$ ￿￿rked with a VIP launch event. catered by the team from Pumell's, in advance of the opening of Purnell's Bistro. Charteihouse opened four day8 a week until winter closing on 5 Novernb8r 2023. In &Jdition to the daity vi8it8 there were special events.. land art sculptufe with James Brunt, craft days. lai Chi, guided tours and Heritag8 o￿n Days in September. The programme continued with popular wreath rnaking sessions and festive loufs in December. Wrth 8 reduced team of Iwo staff from March 2024. Charterhouse has been opening on average one weekend a month wrth a pop-up café prowded by Triumph Brewhouse as well as for private group v15118 and educth'on vi5rts. The ￿t1Vty progT8mme ha8 continued with 'Calm like a Monk. yoga, swelling, crafts and live music. Our Heritage O￿n Days events in September 2023, gave visitors another chance lo see the ¢omplgted ¥Asrtor acwmmodalion in Priory Row and the City Gat¢$, as well as tours of Drapers, Hall and of Lond Road Cemetery. Al Charterhouse, Cov's Big Bike Ride, organised in partnership wrth the Council. brought festwal atTr￿Sphere and over 10frJ visitors to the hcxjse, garden and parkland. The autumn 'have a go, crealTve PTogramme in 2022 continued Into December 2022 ￿￿th wreath maklng sessions, festive yoga and a Chri8tmassy Heritage Day. Dead Good Death Café, where people come loggther lo talk about death, continu85 lo be populor and the Dead Gcod Death Fair in May brought crowds to the cemglery for tours, tslks and stalls. Tho programmg of tours has developed into new themes including Symbolism, Women of Ihg C8mgtory and Armist￿8, 115ing storie8 of reshl8nts ut)earthed by ¢)ur resoarch voluntser team. P8rformances at Drapers, Hall Continu￿ to •nl8rtain audie￿5 wlth shN8 Including Kansa5 Smitys opening anniversary show in November., Orchestra of the Swan., Mostly Piano lunehlime Series,. concerts for In(lependenl Venue Week in Janu8ry 2023,. The la81 prc4rarnmed concert on in July 8aw a p8U8e In scheduling wh￿h will be picked up by a new operator of Ihe venue from August 2024. Publlc b9nefit The Trustees havg complied with their duty under the Chariliè8 Act 20118nd have paid due regard lo publi¢ benofit when preparing this report. The benefft provpJ¢d lo the public 18 consistent witti the chantable alms of Historic Coventry Trust ond is in due regard lo the Chanty Commission guidelin85. PwJe 4

HISTORIC COVENTRY TRUST (REGISTERED NUM8ER: 07825870) REPORT OF THE TRUSTEES for the year ertdtd 31 October 2023 OWECTIVES AND ACTIVITIES Volunteers The volunteer t8am continues to grow (wtth around 130 regular volunteers and nTh)re register&Jl and supports the Trust across all ils a¢tiviiie$. A major recruitment drNe in January 2023 resumed in around 80 new voluntfjers joining th8 tgam and training to be guides in Charterhouse. Their passion, wealth of kntrwledge and enthusiasm nover cease to impress visitors. The Charterhouse garden team and kitchen garden team keep the garden safe and IKly for visrtors and supplied the cafe kilcheri with produce. A particular strength 15 the willingness of volunteers lo move xross different roles, increasing the sense of teamwork, conlinuty and flexibility acro88 the volunteer cohort. We are pleased lo see growing div•tsty across the voluntser team in lemis of ethnicity, 4e and mental heath. We set UP 8 new'Tuesd8y group, in January 2023 to work C￿ tasks in Lond¢n Road Cemètery, clearing holly and ivy, litter p￿ing and other maintenance tasks. Th18 helps lo keep the CerrEtery tidy and supports the woth of the Council'3 Bereavement Serviees at the srte. The research team has worked hard on the stones of peopl8 bur￿ in the cemetery and the material has bd to new tour conlenl and a new series of publlc latt¢s, Tomb TaL9s' in the Anglican Chapel. Events and activits'es Volunteers support events including concerts al Drapers, Hall. e￿nts in London Road Cemekny and * the Cty Gales and Heritage Open Day8. Th8 event team arg publK facing and play a maj'or roLg in giving a good impression of the Trust's public image and care for 115 buildings, Indiwdual and Corporate volunte8rs earry OLrt tasks in tha Hent&ae Park, through the Tuesday Group or with Warwick5hiie Wildlife Trust. Corporate volunteer te8ms have done tree planting, litter pi¢klng and path clearance work helpirvJ lo keep the Park eKce5sible and safe. Corpor81e volunteers have aL80 donated plants and tenches for Charterhouse g8rden. A particular highlight after the year end was the completion of the BIo88om Together project In p8rtnernhip with National Trust. Charterhouse was chosen a¥ one of the $ites fcf thi8 national programm8 and the cammunty planned gI￿le of bbssom trees was launched in April 2024. Volunteer re nilion and wellbei With the lrfling of COVKI reslnclions we were abk lo h08t a face lo fa¢0 volunteer celebration event in January 2023, a Bums Night - repealed in Jan 2024 due to popular dernand. We have also held summer $o¢ial evenings, the first with a quiz night and the second, held joinlty wrth Wawickshire Wldlif& Trust, entertained by the Charterhouse Singers- oui vdunlger Ch￿r. We reccpjnise that volunteers join us for a v8ri&ly of reasons - to gwe scmething back to the ¢unmunty, to 8UPWt hertsge and a180 to Pr(￿oIe their own wellbeing. In the words of one volunteer.. "One of the main reason8 1 signed up originally was lo make fn8nds, 981 oul the house and feel confident again, and with every email I get frfjn you I see that those aims are exact￿ vknat volunteering with the Trust xhioves.- We are delighted to see volunteers making friendships, improving their mental and phYs￿al heatth and gaining experience for other roles. The nevAy fomied Charterhouse Singeryts. entirely led and made up of volunteers has perfomed at volunteer and public events and 18 a sIrc￿@ example of Ihe sen88 of ccfflmunity, belonging and commitment amongst our volunteers. Wrth a wide range of possible volunteering roles, we continue to rttrult. Whether you are intewled in events, lour guiding, gardening. ecology, box office, wsitor wel¢wne or research, there are cpportunf(ies with Historlc Coventry Trust. Contact us at admin historic£ovent rusl.o .uk or 02475270337. PwJ8 5

HISTORIC COVENTRY TRUST (REGISTERED NUMBER: 07825870) REPORT OF THE TRUSTEES for tho year ended 31 Octobèr 2023 OBJECTIVES AND ACTIVITIES Give ba A Core part of supporting our work comes frrm our r¢gular and one-off donoT5. We are extremely grateful to everyone who has Supported us finanually with donats'ons large and sm811 over the last year. Please support us Loeal GNing al.. htt ACHIEVEMENT AND PERFORMANCE Fundraising actlvltlos The chartty does not carry out significant fundraising ￿tiVitIes. FINANCIAL REVIEW R•s•rrfg8 poIIcy At the year end th& Trust has unre511icte(I fund8 of £175,826 and restricted fund8 of £18,084.908. The trustees intend when the lime is rvJht to designate a Building ReseNe Fund lo ènsure that the PfOP8rtie$ in the Trusfs ownership are m8intsin8d in good order and that futur8 rèpair eosts are adequalgly resourc￿1. An annualised life-cycle ¢$limate will be develope(I for the estate and th8 annualised arfK)Unt will be ¥et aside each year frryn total rental income. To dale no amunt h8s been set assign for this fund. Thè aim 1$ lo hold reserves. that Is unfestricted fvnds that are not d8$lgnated, to cover net intOfe8t and nel overheads for a period of 6 months of operations Ic#)king folwards. At the year end free re$erve8 were £175.826. STrUCTURE. GOVERNANCE AND MANAGEMENT Govornlng document The tharity 1$ ¢onlrolled by r(s goveming d(xument, a deed of tru81, and can5titule5 8 limitad eompary, limited by guarantee, as defined by the Companies Ad 20C6. Recrultment and appolntm•nt of n•w trustseg New mèmbers of the Board ar8 Co-opted by e￿$tIng Trustee8 to maintain or augment the range of skills and 8xFerience approprLqle to the need8 and activrti•s of the Charity and 8ubsequ8ntty proposed for dectksn by Member6 at the AGM. Page 6

HISTORIC COVENTRY TRUST (REGISTERED NUMBER: 078258701 REPORT OF THE TRUSTEES for the year ended 31 October 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk managomont The Trustees have considered the major risks to which the Charity is exposed and have satisfied th￿fve$ that system8 and all)wances are in Pl￿ lo manage these (isk8. The fc41owing risk items have been idenlffied 8$ mat6fi81.. Operatlonal Costs The opening of any new venue is inherently high risk with the costs and income very drtricuf( to p￿diCt. It has bgctsmè clear that the TfU81 needs lo keep a tight rein on operating costs and work even harder on generats'ng income rfthe books are to balanee with¢JJl extemal subsio¥. Construcdon t36UOB The construction martel hag 8e8n unpTecedented cost In¢￿a8¢S and sUp￿Y issu85 thal have made ft very drficutt lo predid the finan¢ial ¢osl of ongoing prO1￿t8. This is exacerbated by the inherently long lead in of Ouf projects, whilst consent arKI funding are sought, and by the unknown nature ol historic buildirrfJ fabric Ssues, often arising part way through the conlra¢t. Thankfulty at the lim8 of wrib'ng thg ￿$trUction increases have eased making them easier lo predrt, bul thi5 Still means we can do work for the mney and il rem8ins a funding challenge. One way that the Trust is meeting this chalk8nge is to split projects into 8 fabric repair ph8se, when repair8 are done up lo the budggt available, and then a latef complation phase. The split 811ow8 the main risk items of fabric repair lo be dealt with upfront. follcthed ty a pause whilst funding 15 rai8ed for eompletKJn of the project based on firmer costs and programme. Energy Co•ts The increase in enorgy costs has drNen much of the cDnstruction material eosl increases blrt has al80 had direct impact on th8 operation of the Trust's buildings. ￿lIst upgrades lo the energy sfficiency of the buildin9S IS Part of Ihe restoration works, there is onty a limrted anTh)unt that we can do wilhoul affectlng th8 building's ch8racler 8nd hentage inlegrty. Staff ond recrulimgnt hsues The Board are also ￿nSCh)uS of potential staffing i$$ue$ as infl81ionary pressure8 had put pressure on salary 13. The Board o)n8ider8 risks relating lo recfuilment for new posts and replacement staff when current team members leave. REFERENCE AND ADMINISTRATIVE DETAILS R8glstgrnd Company nUm￿r 07825870 (England and Wales) Reglgtered Charfty numbeT 1148237 Reglstered offlc Drapers, Hall Bayley Lan8 Coventry Wesl Midlands CV1 5RN Paje 7

HISTORIC COVENTRY TRUST (REGISTERED NUMBER: 078258701 REPORT OF THE TRUSTEES forthe year ended 31 Octobar 2023 Trustees A R S Durham l D Harrabin J E G Magraw M P Ralcliffe J C Ruddick B S Sangha F J Sexton Iresyned 13.2.23) Mswebb A B ￿elan G I Willcocks C J Naole lapFK)inted 20.4.24} Company Sgcrotsry J C Ruddick Auditors Daffems LLP Chartered Accountants One Eathoc Hary Weston Ro&J, Binley Business Park Coventry CV3 2UB Statutory Audrtor BankerB Hand8l$bank Ground Floor Enterprise Centr8 Technolcgy Park ECG4 Puma Way Coventry GV12 Accountants LDP LuGkma 1110 Elliott Court Herald Avenue Coventry Buslness Park Coventry CV5 SUB STATEMENT OF TRUSTEES. RESPONSIBIUTIES The Iruslees Iwho are also the directors of Historic Coventry Trust for the purF¥)88s of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicabla I and Unrted Kingdom Accounting Standards Iuniled Kingdom Generalty AcGepled Accounting Practice). Company law requires the Iru51808 to prepare fin8nci81 statements for each financial year vthi¢h glve a true ant1 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 Ihg Gharitable cornpany for thal period. In preparing those financial slatemenls, the trustees are required to Select sultab￿ accounting polcies and then apply them consistontty., observe the methods and principles in th& Chartty SORP," makejudgenwnts and estimate5 that are reasonable and prudent.. prepare the financial $latemenls on the going concem basis unles8 f( is inappffjpriale lo présumo that the charitable company will continue in business. p￿e8

HISTOFUC COVENTRYTRUST (REGISTERED NUMBER: 07826870) REPORT OF THE TRUSTEES lortha y•ar ended 31 O¢tob•r 2023 STATEMENT OF TRUSTEES, RESPONS181LmES- contlnu Thè trJ8teeo ar8 respMsibl• for ke￿￿ng prop8r &xounting records wh￿h disdoso wrth reasonable a￿Ul0cY at any lime the financiel positi'on of the tharitable company and to enab￿ them to ensure th81 the finanaal statsments oJmpty wlh the Companies Aca 2006. They are also Te¥ponsible for 8afeguardlng the 88sets of the chantable ccynpany and hence for tth'ng reasona￿8 Stsps for the prevention and d8tectThi of ft8ud 8nd other irregularibes. STATEMENT AS TO DISCL08URE OF INFORMATION TO AUDITORS So far as tho thJ$lee8 ara aware, ther& is no relevant inforrnation 188 daffin￿ by Wion 418 of th Comp8nie$ Act 20061 ofwhich charitabk company's auditors ara Ltnware, and each tru$tse hgs tskon all th8 steps that they ought to have tsken as a Iru$tee in order lo make them aware of any audit infomab.on and to 6518bliJh that the charitabl8 cJ)mpany's auditor8 arn aware of that informats'on, AUDrroRS The 8udrtor8, Dthm6 LLP. wlll be wcp)68d for rwFwlntsn•nt at the fcrticomlng Annual G￿er81 Mats￿n9. Th15 r8P)rt hA8 bogn prwrod In acCo￿ance the ycial prmion8 c¢ Part 15 of the C￿lpIn1￿ kt 20C6 relating to trnall ctsnpanl•s. Approv•d by of tho board of trustees on 30 ju￿ 2024 and 8lgn8d on118 b•hallby. l D Harrabii- Tru•ts• Page 9

REPORT OF THE INDEPENOENT AUOITORS TO THE MEMBERS OF HISTORIC COVENTRY TRUST Oplnlon We have audited the financial stslemenls of Hi8toric Coventry Trust Ilhe "charitable compan¥'l for the year ended 31 October 2023 wh￿h comprise a st8lement of financial actNities, a balance sheet, a CaShfl￿ and notes to the finanaal statements, including 8 summary of significant aeeounting policies. The financia reporting franRwork that has been applied in their preparation is applicable law and United Kingdom Aetounling Standards, including Financial Reporting Standaid 102. The Financial Reporting Stsndard pIKable in the UK and Republic of Ifeland (Unrted Kingdom Generally AcGeplgJ Accounting Pra¢Aicel. In our opinion the financk?I statements.. o give a true and fair view of the state of the charitable company's affairs as at 31 Octobef 2023, and of it¥ incoming resources and application of resources. including ils income and exFenditure. for tho year then ended., o have been prcperty prepared in accordance wf(h United Kingdcxn Generally Accepted Accounting Pra¢tu.' and o have been prepared in &cordanc8 wth the requirements of the Compani&s Ad 20Ce and th& Ch8rilie8 Act 2011. Ba818 for oplnlon We Conduct￿ our 8udil in accordance wrth Intemational Standards on Audrting (UK) IISAS IUKII and appI￿able law. Our responsibilities under those standards are further described in the Auditors, resFX)nsibililieg for the audit of the financial Statements seclion of our report. We afe independent of the charrtabla company in a￿rdance with the elhi¢al requirements that are relevant to our audit of the financial 8tslemenls in th8 UK, including th8 FRC'S Elhi¢al Standard, and we have fulfilled our other ethical rtsponsibililies in accordance with Ihgse requirements. We believe that th$ audtt ￿[dence we have obtained 18 Suffic￿nI and appropriate lo provKle a basis for our opinion. Concluslons relatlng to golng concem In auditing the financi81 statements. we have concluded that the tru8te8s' use of the going concem basis of counting in the preparation of Ihe financial $talemonts18 appropriate. Based on the work we have parformed. we h8ve not identified any material uncertainlie3 relating lo events or condrtions that. individually or ¢olledively. may cast signhSc8nl doubt on the charrtable companls abllity to onlinue as a going concem for a period of at least ￿1ve months from when the financial sl8tgmenls are aulh¢ri$8d for issue. Our ￿p)nsibIl￿.e& and the resp0n8ibilti￿9 of the trustees with respect lo goiw concem are described In the relevant $8ction3 of this repo Other Inforniatlon The other infornkqlion comprises the infcymation included in tho trust$¢$ annual feport, other I￿n the financial slalements 8n(J our audilorf3 report Ihereon. The trusleey are responsible for the other infomiat)n contained wlhin the annual report. Our opinion on the financial slat¢menl$ does not cover the other information and, except lo the extent otherwise explicrtly stated in our report, we do not express any fom) of assurance cOr￿l￿s1On thereon. Our responsibility is to read the other information and, in doing so, consider whether the other infomalion 18 materialty inconsislenl with the financial slalement8 or our knowledge obtained in tha course of the audit or otherwse appears lo be materially misstated. If we identify such maten.al inconsis18nci8s or apparent material misslalements, we are required lo determine whether this gwes rise lo a material misstatement in the financial slalements themselves. If, baseij on the work we have performed, we conclude that there is a material mi8slmenl of this other infomi*ion, we are r￿U1r8d to report that fact. We have nothing to report in this regard. P￿e 10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HISTORIC COVENTRY TRUST Opinions on other matters presGribgd by the Companies Act 2006 In our opinion, based on the worto undertak8n in the course of the audrt.. o the infonnation given in the trustees. report (incoftorating the directors, rep¢NtI for the financial year for which the financial statements are prepared is consistent with the financial ststernents., and o the directo￿, report has been prepared in accordance with applicable l&3al requifemants. Matterj on whlch we are requlred to report by exception In the light of our knowledge and understanding of the eharilable company and 115 environment obtsin&J in the ourse ofthe audf(, we have not id¢nlrfi¢d matsri81 mi88tatements in the directors. report. We have nothing to report in respect of the following matters in relation to which tho C¢Jnpanle8 Acl 2Cth and th8 Charths Act 2011 requires us to report lo you if, In our o￿nv￿.. o adeq[￿e and proper accounting record5 have not been kept. or retums adoquate for our audit have not been recoNed frryn branches not visrted by us,. or o the financial statements are Trjt in 8gr8omenl wth the &eounllng records and relUrr￿., cf o cert￿n disclosures of directors, remuneration specTr￿d by law are not made,. or o we have not recewed all the inf0M￿li0n and explanatj'ons we requlr8 for our audit.., or o the trustees were nol entitled lo prepare the finanual s18tem8nts in accordance wth the small companies, regime and take advantsge of the small companies, exemptions in preparing the direcaor8' report arKI frc4n the requirement lo prepare a slralogic report. R•spon8lbllltle8 of tn•Jte88 As explained more fully in the INstees' re$pon$ibililies statement, set out on p4es 8KJht and nine, the trustees (who are also the dir￿lor8 of the charitable ¢ompany for the purposes ol company lawl are responsiblg for the preparation of the financial statements and for being satisfied that they give a true and fair view, and fof such inleinal control as the trvslees determine is necessary to enable the prnparallon of finanual statements that are free from material misstatement, whether due to fraud or erior. In preparing the financial statements, the trustees are responsibl$ for assessing the chariiabl8 ¢ompany'8 abilty lo eonlinua as a going concem, di8cb8ing, as applicable, matters related lo going concern and using the going concern ba8is of accounting unless the tru$teo$ githgr intend to liquidate the charrtabl• company or to cease operations, or have no realistic alternative bul lo do 30. P￿?11

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HISTORIC COVENTRY TRUST Our responslbllltlos for the audlt of the financial statements We have been appointed auditor under the Companies Act 20C6 and ￿tkin 151 of the Charitiè$ A¢t 2011 and report in ￿e0rdance with th¢)se Acts. Our Obl￿t￿e$ are to obtsin reasonable assurance aboLrt whether the financHI statements as a whole are free from material mi5Statemenl, whether due lo fraud or error, and to issue an audilorfs report that includes our ¢¥inion. Reasonable assurance i8 a high level of assurance but is not a guarant* that an audit conducted in accordance wrth ISAS IUKI will a￿ayS dotecl a material misstatement when r( exists. Misslatemenls can arise from fraud or error and are considered matefial if, individually or in the aggTegale, they could reasonabty be expected to influence the econom￿ de¢ision$ of us¢rs taken on the basis of these financial stslements. Irregularities. including fraLKI. are instanees of non-eLsmplian¢8 with laws and fegulalions. We design procedure8 in line with our responsibilrties, outlined above, lo detect material misstslemenls in respect of Ifregularilieg. in¢luding fraud. The specific prccedures for this engagernenl and the exl8nt to which the88 are capable of deteding irregulanti8s. in¢lLKfing fraud is dgtailed bg1¢)w'. o Enquiry of m8n8gemenl, those charged with g¢)vemarKe around aetual and potentlal lilyaiK)n and claim.. o Enquiry of ontrty staff in compliance fvnCt￿nS to identify any instances of nonwcoryliarte with and regulalion8'. o Reviwng rnlnules of meeting¥ of those charged wlh govemance,. o Revie￿Ing financial ¥latoment di6closures arKI lestirvJ to 8UPFQrting d￿UMentatIon lo ass￿8 ¢omplian¢e wrth applicable laws and regulation8. o Perfoming audit work ovor tho risk of managem￿1 override of ¢onlrols, in¢luding te8ts'rrtJ of joum81 entr198 and other adjuslrnenls for appropriateness, evaluatlng the busines5 rat￿nale of 8ignff￿anI Iran8Xtion8 Isidè the nomal course of business and revigwng accounting estimates for bias. Because of the Inhe￿nI limitations of an audrt, there i¥ a risk that we will not detect all irregulaiityds, includirvJ Ik)se leading to a material misslalement in the financia5 51alements OT nonwcomplianc8 wlh regulalion. Thi8 fisk increase5 the more that compliance with a law or iegulalion is removed from the ev8nls and tran&xtions fefiedgd in the financial statements, as we will be loss likety lo beccine aware of inBlances of non-complkqnce, The risk is also greater regarding Irregular￿.e8 OCCUfring due lo fraud rather than error. as fraud invofves Intentional c¢Mce8lment. forgery, Cdlusic￿. omission or misrepresentation, A further description of our responsibilities is available on the Financial Reports'ng CounGil'$ websit8 at. httpS..IlvA￿v.Irc.0rg.Uk1OU¥-WorkJAud1vAud1I-8nd-asSur8nee1standardS-and-gUi￿anceAstan￿ards-and￿JUkdanC O-for-audrtorslAudrtors-responsibiif(ies-for-audrtlDescriplion-of-auditor8-re8ponsibilili￿-fOr-a[KlIl,aSpX. d8scriptv)n forms p8rt of our 8udf(orfs report. A furthef description of OUT responsibilities for the audit of the ffinancial statements is located on the Financkgl RePo￿.ng Council's websf(e at www,frc.org,ukJaudrtorsre8ponsibililies, This description forrns part of our Report of the Independent Audrtor8. P￿e 12

REPORT OF THE INDEPENDENT AUD￿ORs TO THE MEMBERS OF HISTORIC COVENTRY TRUST Use of our report This report ts made sc4ety to the cjwitable cc4npanVs members, as a W, in accrydanee with Chapter 3 of Part 16 of the Companies Act 2006 and to the ch8ritable company's Iruslees. as a bc*Jy, in accordance with Part 4 of the Charities IAccounts arKI Reports) Regulations 2(￿. Our audii work ha8 been undertaken 80 that we myht slate lo thè charitable c￿npanY'S membets and i(s trustees those matters we are required to state to tr￿rn In an audilorfs report and for no other purp059. To the fvllest extent pem)itted by law. we do not cepl OT assume responsibilty to anyone other than the charitable mmpany and the charitable cowpany's members as a body and the charrtable companls trustees as a borty, for our audf( work, for this re￿rt. or for th8 opinicfis we have formed. G R Cox 8A FCA {Senior Statutory AIKlitorl for and on behalf of Daffems LLP Chartered Accountants Statutory Auditor One EaS￿￿c￿l Harry Weston Road, Binley Bu81nes8 Pa Coventry CV3 2UB 30 July 2024 Page 13

HISTORIC COVENTRY TRUST STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING AN INCOME AND EXPENDITURE ACCOUNTI for thg y8ar ondod 31 Octobor 2023 2023 Total furKIs 2022 Total nds as rtslated Unresfficted Restricted lunds funds INCOME ANO ENDOWMENTS FROM Donations and kgaoes 15711 1,778,810 1.778,239 3,7H,082 Charltablo actlvltles Preservation of Historic BuibJirvJs 57,244 57,244 Other trading actiwlie8 Irwestmenl ir￿cffle 34,099 211,947 34,099 211,947 212,813 Total 302,719 1.778,810 2,081.529 3.9￿,895 EXPENDITURE ON Raising funds 110,187 110,187 115.902 CharStsbl• actlvltl Pres￿￿10n of Historic BuiKling8 488,027 849,731 1,337,758 681.749 Total 598,214 849,731 1,447.945 797,851 Net galns on investment8 1,OW.CK)O 1.Cl)O.000 NEf INCOMEIIEXPENDITUREI Tran8forn betwoen fund• 1295,4951 19,422 1,929.079 119,4211 1.633,584 3,159,244 21 Not movemont In funds 1276,073) 1,909,658 1,633,585 3,159,244 RECONCILIATION OF FUNDS Total fvnds brought forward 451,899 18,175,250 16,627,149 13,467,905 TOTAL FUNDS CARRIED FORWARD 175,826 18,084,908 18,260,734 16.627,149 The notes fom part ofthese finarrial statements Page 14

HisfoRIC COVENTRYTRUST (REGISTERED NUhlBER: 07825870} BALANCE SHEEr 31 October 2023 2Lf23 Total fun 2022 Total fund8 aB r88tsted Unre81ricted Rasthcb lund5 funds FIXED ASSETS Tangible 888ets Hentage a888ts InvMtm•nts Invfstsngnts Invthnent proF 15 16 421,082 421,082 16,671.429 16,871,429 15,178,021 17 18 4,822 1,000.000 1,000,000 4,822 18,092.511 18.097.333 15,176,021 CURRENT A88ETS O•btors Ca8h at ba￿ and In h￿d 1C6,S84 123,3e1 231.948 188,863) 338.530 38,498 1,019,054 488,386 229,945 145,083 375,028 1,507,440 CREDITORS Amounts lallino du8 wthin one year 20 (58,941) 1152.8881 1211,627> (58,312) NET CURRENT ASSErs 171,004 17,603} 183,401 1,451,128 TOTAL ASSET8 LESS CURRENT LIABILrriE8 175,828 1&084,808 18.280,734 16,627,149 NET A88ET8 175.828 18,084.908 18,260.734 18,627,149 FUNDS Unrestrlcted fund8 Restrthd fiJnd8 21 175,828 451.899 18,1)84,908 16,175.250 TOTAL FUND8 18,260,734 18.627,149 The8e financial 81atemgnts havo be•n prnparfjd in accud&nc• Wbth th8 provblon6 appl￿*￿? to tharitsblo companTe8 svbiect to tho small comp￿18$ rèlllma. Th• fingnual 8tsternènts were appro￿ by tho Board of Tru8tee8 and aulh0ri8ed tr 158ue on 30 Juty 2024 8nd were 9￿Jn8d on lis t¢half by.. l D Harrabin-Tru6te8 The notes fcrfm part (Km089 ffflanctal Pag9 15

HISTORIC COVEKfRY TRUST CASH FLOW STATEMENT fortho year onded 31 OGtober 2023 2023 2022 restated C•8h fmm 0￿ratIng actlvltleg Cash generated from 0peTaI￿n$ Interest paid 1,464,638 {341 2.899.597 Net cash provided by cperaling actNii 1.464.602 2,899,597 C•sh flows from Investlng actlvltlej Costs of buildings under renovat￿￿ Purchase & renovation of hgrflage assets {421,082} 11,495,408) 12,969,304) Nel cash used in investing actiwti8s 11,916.490) 12,969.3041 Change In ¢aBh and cash gqulvalonts In tho reporting pèriod Cash and c•8h •qulvalont8 At tho beglnnlng of the reportlng p•dod 1451,8881 169,7071 488.386 558,093 Ca•h and ¢￿h equlv•lents at tho •nd ol the rèporting pèrlod 36,498 488.386 The notes fomi part of these financial statements Page 16

HISTORIC C0VEP￿Ry TRUST NOTES TO THE CASH FLOW STATEMENT for the year ended 31 Octobor 2023 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 re51ated Not income for the reporting p8rlod1•s pgr Iho Stat•ment of Financial Activitivs) Adjustments tor. Losses on investments Interest paid Donated assgts Decrea591lincreasel in dgbt Incroa8dldecreasel in cr&Jitors 1,633,584 3,159,244 {1.000,(￿> 14,8221 680,525 155,315 1225.5511 134,0%> N•t Gash wovldgd by opgr•dons 1,464,636 2,899,597 ANALYS18 OF CHANGES IN NET FUND8 At1.11.22 Cash At31.10.23 Not cash Cash at bar* and in h￿d 488,386 {451,888) 36,498 488,386 {451,888) 36,498 Total 488,386 1451,8881 36,498 The note5 form part of these financial statement$ P￿e 17

HISTORIC COVENTRY TRUST NOTES TO THE FINANCIAL STATEMENTS forthe year ended 31 October 2023 ACCOUNTING POUCIES Basls of preparing the financial ststements The financial statements of the charitable company, which is a public kneff( errtity under FRS 102, have been ptepared in ￿>rdanCe wlh the Charities SORP {FRS 1021 'Accounting and Reporting by Charrties.. Statement of Recommended Practice applicable to charilieg preparing their accounts in accordance wrth the Financial Reporting Stsndard applicable in the UK and Republie of Ireland IFRS 1￿2) leffective 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting Stsndard applieable in the UK and Republic of Ireland, and the Companies Ad 20C6. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included al market value, as modified by the revaluation ofcertain assets. Historic Coventy is a private charitable company, limited by guarantee, and registered in England and Wales. In the evont of the charity being wound up, the li8bilty in respect of tho guarantee is limited to £10 per member of the chanty. The address of the regislere(l office is given in the charity infcrfmation on page 6 of these financial statements. The nature of the charilws operations and prirscipal acaivities are detailed in the r8POrt of the Irusle8S. The financlal stalemerrts are presented in sterling %thich 18 the functional currency of Ihg charty and rouTrJed lo the nearest £. Crltlcal accountlng ludgements and koy wurcoj of estlmatlon uncortalnty Tho preparattr?n of the financial statements iequires man8gem8nl lo make judgements, estimates and assumpt￿n3 that affect the anK)unts reported. These 861imales and judgements are continual reviewad and are based C￿ experience and other factors. Including expectations of future events that are bellevad lo be reasonable under tho arcumst8nce8. Incomg All ineom8 18 recogni9￿ In the Statomenl of Financial A¢h'V￿¢S C￿¢8 tho ¢harty has entrtl8menl to the fund8. it 18 probable that the incon%? will be iecewed r￿d tho 8rThJunt can be measured reliably. Income I￿rn grants are reGongised when Ihg Charty ha¥ entitlen￿nI lo the fiJnd8, any p8rfom)ance ¢ondrtion$ attached to the grants have been met, il 18 PrOba￿e that the income will be I￿8￿¢d aTrJ tho ar￿Unt can bg mgasuled feliably and is r￿1 deferred. Exwndlture Liabilittes are recognised as expenditure as 800n as there is 8 legal or con8lrucaive cuigation commffting the charfty lo that expendtture. it is probable th81 a transfer of economic benefits will b9 required in Settlement and the affK*unl of the obligation can bè measured reliab￿. Expenditure 15 accounted for on an accruals basis and has been classified under headlngs that aggr9gole all cost related lo the category. whe￿ costs eannot be directly attributed to particular headings they havg been allocalad lo activiti'es on a besi8 consistent with the use of re80urces. Irr￿0Verabkn VAT ts charged as a cost against the activty for which the expendfture w88 in¢urrod. Gr8nt8 offered Subject lo conditi?n8 which have not been mgt at the year end dale are noted as a commilmenl but not 8ccrued as expenditure. Bulkllng8 under renovatlon Certain PTCFertie5 are not currently owned by the Tru51 or subject to 8 Long Lease, bLrt there is an expectatKJn that once renovth'on5 have been completed, then these assets will become owned by the Trust. As such. assets of Ihls type are caprtalised as Asse18 under RenoVal￿n untl tw have been fomally wuired by the Trust al which point they wlll be included as Heritag8 Assets. Heritage a5Sots Herrtage assets purthased are inrtialty accounted for at eost. No hentage assets have been revalued. Heritage assets are categorlsed Into either cyeratlonal herrtage asset8 Of non-operalional heritage assets. Page 18 conlinugd...

HISTORIC COVETr￿Ry TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued for the year ended 31 October 2023 ACCOUNTING POLICIES- contlnu8d Heritage assets Operational heritage assets are propety held in pur8uit of the charity'8 overall ctyectN8S bul aTe also used for revenue generation or other non-heritage purFoses. Mapr r8fvrbishments and renovatM)n VKJrks on operational heritage assets, including related professional fees, are capitalised and depreckqled over their uselul economic lrfe. It is deemed that the costs to date have an indefinite lrfe therefore no depreciation is prowded. Major fefurbishments and renoVal￿)n VKJrks on nonryopefaiional heritage assets are not capilalised but are treated as expenditure. Up lo the year end all herfbae 888ets are deemed to be operatsjnal. Invastsnont prowrty Investment property is shown al most recent valuation. Any a9gregale surpluB or deficrt arising from changes in fair value is rwnised in the Stalemenl of Financd Activities. Taxation The charity 18 exempl from corporalwjn tax on it8 ch8rit8bl8 ￿t￿ltieS. Fund aeeountlng Unrestricted funds can be used in ￿CordanCe with the charitabl8 objoctives at tho di$rxetion of the tru8tee8. Restricl8d funds can onty be used for particular restricted purp¢)sÈs within the eblects of the charity. Resldction$ ari80 when Specif￿ by the dOr￿r or when funds are r818od for particular reslncied PUVPO8ey. Further oxpl8nation of the nature and purpose of ea¢h lund is Ind[￿ed in the ncts8 to tho financial Ststa￿￿n1s. P•n81on cojts and other ￿t•￿tIrement b•neffts The Chairtab￿ company operates a defined contribution pension sch8m&. Contributions payable lo th8 harilable ccYnpany'8 pension scheme are charged to the Slatemenl of Flnanwl Activities In the per*)d lo vthith tW relate. Donatod e•r4Sc08 and facilitie8 Donated professional service8 and donated facilities have Mt been rec()anised as income in theso accounts. In ￿OrdanCe wrth the Ch8ritie5 SORP IFRS1021, general volunteer lime Ys not recognised and refer lo the Trustee8' annual report for more infomation about contribution from voluntoefs. DONATIONS AND LEGACIES 2023 2022 restated Donations Grants 23,686 1,754.553 178.001 3.566,081 1,778.239 3.744,082 Page 19 ontinued...

HISTORIC COVENTRY TRUST NOTES TO THE FINANCIAL STATEMEprfs - continu•d for the year ended 31 Octobgr 2023 DONATIONS AND LEGACIES - condnued Grants received, induded in above. ￿ a$ fol￿$. 2023 2022 re8taled Hi5toriG Englarbj I Coventry Cty Ccwncil PSICA Arehiiectural Heritage Fund Arts Council England Sevem Trent Communty Fund Nali¢)nal Lottery Hentage Fund Historic Hous8S Herrtage Lottery Fund ERDF Green National Trust Cty of CulluTe Coventry City Council Other Historfc Englarxf Other grants 116,000 29,782 43.293 39.692 224,100 30.000 1,453,487 15.800 18.000 19.500 1,334,990 241,438 1C(1,001 3,734 8CrfJ,779 472,239 37T,aoo {11 1.754,553 3,566,081 OTHER TRADING ACTIVITIES 2023 2022 a8 re51ated Fundraising 8vent8 Shcp income Hires Volunteering 730 22.244 6,625 34,099 INVESTMENT INCOME 2023 reslatsd Rents received Commi881)n8 204,618 7,329 212.813 211,947 212,813 P8ge 20 nlinued...

HISTORIC COVEKfRY TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued for tho year ended 31 Octob9r 2023 INCOME FROM CHARITABLE ACTIVITIES 2023 21Y22 88 Actmty Preservatv)n of Historic Buildirys Adm￿s1onS 57.244 RAISING FUNDS InvMtm•nt mamgement 2023 2022 r88tated PortfolKJ managoment Lggal f888 Propety repairs Mainten￿ce charg88 Rates and water Insurance Light and heat Telephe￿& Bank charges Rent Sundry Subscri￿Tr8 27.331 101,C65 34,088 2,845 15,304 2,985 14,220 11,427 858 2,597 382 11 10.353 1,264 375 110,187 115,902 CHARITABLE ACTIVITIES COSTS Grant funding of activllie8 Isee nots 8} Support Costs note 91 Total8 Preservalon of Hlotorfc 8uiklin98 372,608 534,000 431.150 1,337,758 GRANTS PAYA8LE 2023 2￿ re818 PreseNatson of Historic Building¥ 534,000 The Icrtal grants pavj lo InslitLrtlons durfng the y8arwa8 as follm.. 2023 2022 r6818ted Coventry City Council 534,tM)O Page21 continued...

HISTORIC COVEMTRY TRUST NOTES TO THE FINANCIAL STATEMENTS- c¢>nlinued for the year onded 31 OCto￿r 2023 GPAFThS PAYABLE - Gontlnu•d The payment to Coventry Cty c￿ncIl of £534,DOO was from grant ￿￿)nIeS received by the Trust from Histor￿ England under their HvJh Street HAZ progTarTwrÈ. This element of the HSFL42 grant was allrxaled lo works to the public realm lo open up th& river in Palmer Lane behind th8 Trusvs Burges properties. The Council are now undertaking these works at a eosl of £2.4m. The £534,C(N) Is a conlribub.on tcwards these costs from HbStoric England that has passed through the Tru8t'8 acC￿JnIS. SUPPORT COSTS Govemance costs Othei Totsl8 Pre￿atIOn of Historic Buildin98 399.668 31,482 431,150 10. NET INCOMEIIEXPENDITUREI Net incomel{expenditurel is stated 8fter ch8rgingllcrediting}.' 2023 2022 A8 resl8tod AudTtors fee Previou8 auditors fee 12,500 11. TRUSTEES. REMUNERATION AND BENEFITS There were no Iruslees, remunèration or other tenaffts for the year 8nd8d 31 October 2023 rKJr for th8 year ended 31 Oclcthr 2022. Truste￿. •xp8nso• 2023 21y22 Trustees, expenses 245 One trust¢e had expen888 relmburwl. 12. STAFF COSTS 2023 2022 re¥t&8d Wages and 5aL8ries Social seeurty costs Other pension c08ts 256,086 20.132 9,867 244.635 20,652 9,110 286,085 274,397 Pajg 22 continued...

HISTORIC COVENTRY TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued for the year ended 31 October 2023 12. STAFF COSTS- contlnued The average monthly numberof employees during the yearwas as fc41uw$.' 2023 2022 a$ re$tated Employees 11 No employees re￿Ned eryduments in excess of £60.000. 11 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslrictgd fvnd8 Roslrktsd fund8 Tot81 funds INCOME AND ENDOWMENTS FROM Donatk)ns and *aciès 330,269 3,413,813 3,744,082 Investmènt Incoma 212,813 212.813 Total 543,082 3,413.813 3,956,895 EXPENDITURE ON Raising funds 1107,6231 223,525 115,902 Charltablo actlvltles Preswvth'on of Hi$lorK 8uilding$ 404.546 277,203 681,749 Totsl 296,923 500,728 797,651 NET INCOME 246,159 2.913,085 3,159,244 RECONCILIATION OF FUNDS Total funds brought forward 205,740 13,262,165 13.467,905 TOTAL FUMDS CARRIED FORWARD 451,899 16,175,250 16,627,149 14 PRIOR YEAR ADJUSTMENT A 8erie8 of bank transaction5 on a spgcffic bank account h8d not been includpjj in the 2022 accounts. Tre 2022 accounts have been restated to rsfle¢t in th& income and expenditUTe a5SOCAated wrth these transactions. Page 23 continued...

HISTORIC COVENTRY TRUST NOTES TO THE FINANCIAL STATEMENTS . contlnugd for the year onded 31 October 2023 1& TANGIBLE FIXED ASSETS Buildings under renovation Additws 421,082 NET BOOK VALue At 31 O¢t¢l)er 2023 421.082 At 31 Octcl)er 2022 The buildings under renovation are London Road Cemelwy's Noncorrfonnlst Chapd and ￿￿?fria￿S Gala. 16. HERITAGE ASSErs Total MARKET VALUE Al 1 Novèmber 2022 AddilKJns 15,176.021 1,495.408 At 31 O¢tobof 2023 16,671.429 NET BOOK VALUE At 31 Octci)er 2023 16,871,429 At 31 Octcè8r 2022 15.176,021 PrO￿rtY The Charterhouse, London Road, Coventry Charterhouse Coach House and Land, Coventry Drapers. Hall, Bayley Lane, Coventry Former Rgilway loop Ling, Cov•nlry 3- 5 PrKJry Row. Coventy Swanswell Gate, Coventry Cwk Street Gate, Coventry Anglican Chapel. London Ro>g Cemetery, Coventry Acqulr March 2013 June 2020 November 2019 August 2018 August 2020 October 2020 October 2020 Tonurn Freehdd Freehold 250 year lease Freehold 250 year lease 250 yearlgase 250 yearlgase May 2021 250 year laase The Long Lea$ehd¢J intsrests are all C¢)v8ntry Cty Coun¢il Freeholds. There 8Te no unusual lea88 teffi￿, with th8 excepts'on of restrictions on use and aliena1￿ Imposed by grant condit*)ns. Several prcyertles have charges in pl&e to secure grant condith)n8. Page 24 continugd...

HISTORIC COVENTRY TRUST NOTES TO THE RNANCIAL STATEMENTS - contlnued for the year ended 31 October 2023 16. HER￿AGE ASSETS- Contlnuod summary analysls of herltage asset transxtions 2023 2022 2021 2020 2019 Purchases and Renovations at Cost Donations 1,495,410 2,￿9,304 12,206,717 Total Addi(i)ns 1,495,410 2,969,304 12,2C6,717 Total charge for Impainnonl Total 0i8P08al8 Total Sales Pro¢80ds 17. FIXED ASSET INVESTMENT8 Listed Snveslments MARKET VALUE Addrtions 4,822 NET BOOK VALue Al 31 O¢tober 2023 4,822 Al 31 Octobof 2022 Thare wem invastmenl assets OLtside the UK. The Trust h88 8 wholty4Jwned domant Subsidiary, HCT Trading limited (company number,. 12305746), whlch has r8seNes ￿ £1. 18. INVESTMENT PROPER FAIR VALUE Revaluatb)n 1,C(Q,000 At 31 Octe&er 2023 1,CW.000 NET BOOK VALUE At 31 October 2023 1,(>JO,OC#) Al 31 Odobgr 2022 The Burges properties have been revalued by the Trustees at a falr value of £1,OCIJ.￿O as at 318t October 2023. The Burges properties are'.- Propaty 1- 9 Hales Streèt & 18- 20 The Burges, Coventry 21- 24 and 27 The Buigo5 Coventry AcquirgJ December 2021 July 2022 Tènure 250 year lease 250 year lease Page 25 continued...

HISTORIC COVENTRY TRUST IK>TES TO THE FINANCIAL STATEMEiifs- contlnuod for thg year gndod 31 October 2023 1& INVESTMENT PROPERTY- contlnued The Trust hc4ds Drapers, Bar as of a futu￿ re￿den￿ation plans that include the ad￿nIng site. It currently klt on a s￿rt term basys pending the r&development of the site being undertaken. Due to the ￿StriCtIonS in the transfer agreement for the propety, it is not po88ibl8 lo assess a fair valuo forth8 pfoFerty whth was uiginally gffted lo the Charity. The￿ 1$ a ground wl Payab￿ of£3,080 per annum on Or8Fers' Bar. Fairvalug at 31 October 2023 18 repre88nted by.. valUath￿ in 2023 1,000,￿0 19. DE8TORS: Apioupifs FALLING DUE WITHIN ONE YEAR 2023 2022 restated Tr•J8 debtors Other debtors Prepaynwts 41.675 243,590 53,265 1,117 1,017,937 338,530 1,019,054 20, CREDrroRS: AMOUNTS FALLING DUE WIThIN ONE YEAR 2023 2022 restated Trf•Je creditor8 Sw81 stturty ar￿ other taxe$ VAT Accru818 and deferred incc 19,629 5.686 248 186,064 49.928 6.384 211,827 56,312 e26 ontinued...

HISTORIC COVENTRY TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued for the year ended 31 October 2023 21. MOVEMENT IN FUNDS Transfers btheen ftjnds At 1.11.22 movement in funds At 31.10.23 Unr•stricted funds General fund 451,899 1295,495) 19.422 175.826 Re8trlcted fund8 General re8trict8d Ch8rterhou8e Coach House Venue Loop Line Anglican Chapel Priory Row Gales Drapers Hall Nc￿-cOnformI$I Chapel sl London Road Cemetery Non-conformi51 PrO1￿t lthilefriars Project Th• 8urgos & Hath Stre8t 2,035,557 7,082,919 997,021 308,330 199,142 901,293 646,915 4,004,073 1620,6381 (1.414,9191 673,483 {73.0941 462,083 791,719 {311) 1120,3071 18,960 {19,4271 89,838 701,279 7.683,308 2.250,823 187.712 218.102 881,866 726,474 4.705.352 110,2791 {1,8311 179,933 246,639 1,OC(),CpJO 19471 {2,7781 179,933 254,116 1,OCQ,C 7,477 16,175,250 1,929,079 119,4211 18,¢)84,S¥)8 TOTAL FUNDS 18,627,149 1,833,584 18,260,734 Net movement in fund8, included in the al￿8 ar8 as follm.. Incoming resource8 RosourwJ expended Gains and 1083es M¢)vement in funds Unrnstrlcted fund• General fund 302,719 1598,214} 1295,4951 R•8trlthd funds Genaral restricted Charterhouse Coach HoL￿e Venue Lwp Lin Gate8 Non-confomiisl Ch8pel at London Road Cemetery Non-confomii81 Projttt Whrtefriar8 Prciect The Burge8 & Hale8 Street 71,595 746,54S 470,221 1692,233) 173.062) 18,138 1310) 110,279) 1620.6381 673,483 462,083 13111 (10,2791 63,695 180,116 246,639 (65.5261 (1831 {1,8311 179,933 246,639 1,000,C 1,000,1 1,778,810 1849.7311 1.000,IXIO 1,929,079 TOTAL FUNDS 2,081,529 {1,447,9451 1.OW.OOD 1,633,584 Page 27 continued...

HISTORIC COVEpifRY TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued for the year ended 31 October 2023 21. MOVEMENT IN FUNDS- Gontinuod Comparatives for movement in funds At 1.11.21 movement in funds 31.10.22 Unrestiicted funds General fijnd 205,740 246.159 451,899 Ro8trkt8d funds General raslrthd Charterhouse Coxh House V￿ue L¢￿p Line AnglKan Chapel Priory Rchv Gales DraperyJ H811 1,841,080 5,115,434 997,021 249,726 164,502 873,968 343,396 3,677.038 194.477 1.*7,485 2,035,557 7,082,919 997,021 308,330 199,142 901,293 646,915 4,004,073 34.640 27,325 303,519 327,035 13.262,165 2,913,085 18,17S,250 TOTAL FUNDS 13.467,9J5 3,159,244 16.827.149 Comparative net rrKlv￿nen1 in furKI8, induded In the above are aB foll¢)w8.' IncomirrfJ Resour¢e$ Movement resource8 •xp•nd8d In fund8 Unrnstrlcted funds General fund 543,082 1296,923) 246.159 Re#trictèd funds General restricted ChartgrhouBe L¢x)p Ling Anglican Ch8pg1 Priory Rtr Gates Drwr8 Hall 567,197 2,081.475 36,692 15,800 29,782 355,832 327,035 1372,720 1113,9901 21,912 18,840 {2,4571 152,313) 194.477 1,967,485 58,604 34,640 27,325 303.519 327.035 3,413,813 15C4),728) 2,913,085 TOTAL FUNDS 3.956,895 1797,651) 3,159.244 Page 28 ccfitinued...

HISTORIC COVENTRY TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued forthe year ended 31 October 2023 RELATED PARTY DISCLOSURES There were no donations receiwa from companies controlled by TTUStee$12022.. £130,000). During the year. the Trust made payments to a charity controlled by onè of tho Twstees for the supply of materkgls lo the Trust for £319 (2022. £NILI A company controlled by a Trustee has pfovhled the Trust a loan f￿lIlty of £6C¥),000. No fvnds had been drawn against thls facility al the year end. After the year end. Assets of the Trust have been ¢hafg8d again8t the l)an facility which contain8 a nwve ptedge. OPERATING LEASES- LESSOR The Iijtsl future mlnimum lea¥e paymgnts rgcelvable under nonrycaneellable cyrating leases are.. Not18ter than one year Later than one year and I￿tISt￿l than five years Later thon fwe ye8rs £109.234 £275,952 £58,458 Page 29