REGISTERED COMPANY NUMBER: 00593444 (England and Wale81 REGISTERED CHARITY NUMBER: 203774 Re Trustaes and Unaudited Flnancial Statements Year End8d 31 December 2023 for The Pl mouth Barblcan Trust Llmited Northcott Trumfield Chartered Accountants Devonshiie Villa 52 Stuart Road Plymouth D8vDn PL3 4EE
Th• Pl mouth Barblcan Trust Llmlted Contents of the Flnanclal Statements For The Year Ended 31 December 2023 Page Report ofthe Trustee 1 10 3 Independent Examiner's Report statsment of Financlal Activitios Balance Sheet Notes to the FirAncial Statements 7 to 13 Dotalled Statement of Flnancial Aotivitiè8 14
The Pl mouth Barblcan Trust Umlted Re ort of the Trustees For The Year Ended 31 December 2023 The trustees who are also directors of the charity tor the purpose8 of the Companies Act 2008, present their report with the financial slatem8nt$ of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Repc)rting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordence wfch the Financial Reporting Staard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The Plymouth Barbican Trust Limited is required by charity and company law to act within the objectives of its Memrandum of Association. Its principal objects are'to acquire land and buildings of historic or architeGtural value and interest in the City of Plymouth and lo maintain. preserve, improve, manage and develop such assets,. The Directors have referred to the guidance contained in the Charity Commissions general guidance on public benefiL Public benefit The Plymouth Barbican Trust Limited acquires Properties of historic nature v41thin the aty of Plymouth. This includes some twenty properties in the historic Barbican area of Plymouth, and despite required refiJrbishment of buildings this is afvrfays with the preservation ol ihe hisloric area in mind. South West Image Bank {SWBI was set up in 2007, to create a fulw accessible on-site and on-line gallery, shop and search suile. This has been designed to accommodate all audiences from school groups, families, tourists, local history swieties and other students. SWIB also geeks lo interact with the general public and has doveloped a series of items to complement the photographic records entrusted to the archive. In addtbon lo SWB'S ongoing preservatton Bnd 8CC8ss work, lh8 archiv8 has also coordinated 8 séries of projecis to furthèr eomplemènt th8 bènefits to learning which li6s at the core of all their outreach objectives. SWIB has also deva10d a living arehivè body ol work designed lo enwurage people lo deposit their own ¢ontempoRry Images whl¢h ¢an be presenjed as archives for the fLrture. In 2017, The Board mad8 th8 decision lo loan th8 SWB wll8clion in its entirety lo Ptymouth City Council a8 Part of Th8 Box projéct for an initial pèriod of twénty fivè yeats. Thèré havè been no changes to these arrangements thi8 year. Plymouth City Council The Box has shaied objeclwes for the collection being freely available for viewing to the general public. The Box provKle periodic feedback and updates loTr The Board on the collection. The Trustees have had regard to Charity Commission guidance on public benefrt. ACHIEVEMENT AND PERFORMANCE Charltablè activltl&s The charity currently holds prop8rties of histori¢ interest which il r8nts to commercial ané private individuals. The financial statements for 2023 Include on90ing routlne malnlenan¢e, presenJaUon and management of such propertie$. The day to day management of the propert18s is carii8d out by Stratton Creber Commercial. They carry out an annual assesgménls on bèhalf of thÉ eharily of thè works rèquirèd to rnainlain all properbes, heving due consideration for the needs of thè lenan18 and preservation of their hisltsric81 import8n¢e. Propèrty reports are presented to the Board 8t Board meetings for consideratioTrn. Works this year include maintenance WOT*s al the Elizabethan Gardens. The Board assess each project with a need to balan the requirement of tenants with preservation of the historic area. The Property Committee continue to meet and review any possible property acquisitions that fit in the remit of our portfolio aims. The Ptymouth Barbican Trusl Limited retains ownership of the SWIB ¢ollection bul has loaned the collecbon in it's entirety to Plymouth City Council ftsr an initial term of twenty five years. Plytnouth City Council look over the right to conserve, manage and use SWIB colleclion and use the collection for the same charitable aims as us throughout the loan pèriod to Continuè to act as 8 visual mèmory of tha communty. Se$S1b1& by th8 gen8r81 publi FINANCIAL REVIEW Investmgnt policy and obig¢tivg An investment review was carried out by the Board during the year. The management committee has considered the most appropiiale policy for investing funds. and has found Ihet spreading funds across relalively liquid or shc)rt notice accounts. togelher with bank current accounts meets their requiremenls. Funds have been invested in new accounts with a view to achieving a financial retum through interest. A certain amount of fvnding needs to be available on a daily basis and the directors consider the return that they receive on their investments to be satisfactory and low risk as quired. These are rellecied as cash at bank in the financial statements. Page 1
ThePI mouth Barblcan Trust Llmltsd Re rt ol the Trustees For Tho Year Ended 31 December 2023 FINANCIAL REVIEW Reserves policy It is the policy of the cornpany to try and m8int8in a lévèl of frèè rèsèN8s. that are those unrestricted funds which are not invested in fixed assets, designated for a sp¢¢ifi¢ purpose or olheN4se commilt8d which meet the cost of the Trusys govemance and the level of its preservation policy within its available budgel. The Trustees opinion is that this lÈv81 of reserves would be adequate lo maintain unint6rrupted seeS in the event of a m8lor loss in funding. There aré no res&rve funds which ar8 of a designated nature. Al 31 December 2D23 the level of SeNe$ total £3,144.456 ol which £2,895,0 regents thé carryirrtJ value of properties. £449,456 (2022.. £377.4971 free reserves therefore reprèsents funds held to cover rna1ntenan a prèsèNation costs of such buildings held. The Board also have a longer tem objective to acquire additional prop8ttiès should suitabl8 onès become available which ffit the current aims. In order to do 50 It will be necessary to build and hold free reserves. FUTURE PLANS The charity aims to continue to preserve il's existing portfolio of properties. Th8 8oard IS 8hM8ys rÈvi&wing potential for new property acquisitions. STRUCTURE, GOVERNANCE AND MANAGEMENT Govèrnlng documont The Plymouth Barbican Trust Limited is a charily registered with Ihe Charity Commission in England and Wales No 203774. Formedy known as The Plymouth Barbican Assouation mIted, the wmpany changèd its n8m6 to The Plymouth Barbiean Trust Limited on 13 April 2011. The company is limited by guarantee, has no share capital and its registered number is 00593444. In the event of the company being wound up, the liability ol eath member 15 limrted to £1. The company was incorporated on 11 November 1957 and is It is govemed by ils Arbdes of Association of this date. Now Art*GI¢s ofAs5g¢ialion wore approved by the Board on 20 June 2019. Recruitment and appolntmont of new trustsas The directors shall carry out the election of the officers at the Annual Genernl Meeting. Nominations 8h811 be made in wrfting. Each nomination must be proposed and seconded by a director of th8 cofflpar)y and accompanied by the wiitlen consent of the nominee. New directors are inducied into the workings of IhÈ charity during m88tings held. Directors are recruited to provide the specific skills and experience required to govern the Trust. They are provided with regular internal and external information relevant to the Trusys governan, including visits to the TIu5t's properties as necessary. Organisatlonal structure Overall responsibility for the management of the Company is vesled in the diiectOTS. The Company holds al least three committee meetings during the year. These meetings we organised by the direGtors tr) continue with Ihe work necessary to maintain the objects of the tharily. The directors of the compa¥ry, who are th8 charity trusteès, fomi the Plymouth Barbican Trusvs Council of Management. They are required lo rètirè ÈvÈry thrèè years and may offer themselves for re-appointment. On a day to day basis the charity is mana9ed by the company secretary Jame8 GTOV88. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 00593444 (England and Wales) Rggistsrgd Charity numbor 203774 Règisterèd officè 75 North Hlll Plyrnoulh Devon PL4 8HB Page 2
The Pl mouth Barblcan Trust Limited Re ort of the Trustgos For The Year Ended 31 December 2023 Tru$tges A P Golding RDBay D E Buckinghsm P R Burrows M J Coles E C Keast C Robinson Chairp8rsoin W Scutt KCHood C H Theyer R J Atkinson l&ppoinled 11.12.231 Company S•crètsry J A Groves Independent Examiner Guy Northeott Northcott Trumfiold Chartered Accountants Devonshire Villa 52 Stuart Road Plymouth Dèvon PL3 4EE Sollcltor8 WolfeTslaTrs Deptlord Chambers 60164 North Hill Plymouth PL4 8EP Property Con¥ullants Stratton Crsbèr Commerc4al Farrér Court 75 North Hill Plymouth PL4 8HB This report has been prepared in accordance with the speryal provisions of Part 15 of the Companies Act 2006 relating to small cornpanies. Approved by order of th rd of Irust8&s on .... 1.2/91.1.4............ atKI signed on its behalf by.. C Robinson- Trustee Page 3
Inde endent Examinetrs Re ort to the Trusteeg of Thè Pl mouth Barblcan Trust Limited Indopendent exarnlne¢s pOrt to the trustees of The Plymouth Barblean Trust Limlted I'the Company'l I report toTr the chaTity tmstees on my examination of the accounts of the Company foi th8 yèar ended 31 Decemb8r 2023. ResponslbllltSes and basls of report As the Ghaiity's trustees of the Company {and also its dirèctors for the purposes of company lawl you are responsible for the preparation ofthe account5 in accordance with tho requlrements of the Companies Act 2006 Cthe 2Q06 Act'l. Having satisfied myself that the accounts of the Company are not required to be auditsd under Part 16 of the 2006 Act and are eligibl& for independent examin8tion, I rèport in respect of my examination of charity's accounts as carried out under Section 145 of thè Charities Act 2011 I'the 2011 Act'l. In carrying OLrt my examination I have followed the Directions given by the Charity Cotnmission under Section 145151 Ibl of thè 2011 Act. Independent examinerfg ststemant I have completéd my examination. I confim that no Matte have come lo my attention in connection with the exarninalion glvlng me cause tg believe.. accounting rerdS were not kept in respect ofthe Company as reqtjired by Sedlon 386 ofthe 2006 Ad,. trr the accounts do not accord with tIKse records,. or thé aceounts do not comply with the accounting requirement8 of Section 396 of the 2006 Act other than any requirgmenl thal the ?ounts give a true and fair viéw which is not a matter considered os part of an independent examination,. or the accounts have not bèan prepared in accordance with the methods and principl&s Df Ihe Slalemenl of Recornmendèd Practice for accounting and reporting by charities (applicable to charities preparing their 8¢¢ounts in accordance with tho Flnan¢lal Reporting Standard applicable in the UK arKI Républic of Ireland {FRS 102)). I have no concerns and have come acrts no other malters in connection with thè examina15on lo which attention should be drawn in this report in ord8r to Énable 8 proper understanding of the accounts lo be reached. Guy Northcott FCA Institute of Chartèred Accountants in England and Wales Northcolt Trumfield Ch8rtgTed A¢¢ounlanls Devonshire Villa 52 Stuart Road Plymouth Devon PL34EE Date.. 12 Pag04
The Pl mouth Barbican Trust Limlt•d statement of Flnanclal Actlvlties oratin an Income and Ex enditure Account For The Yoar Ended 31 D•c•mb•r 2023 Incor 31.12.23 Unrestrieted funds 31.12.22 Total funds Notes INCOME AND ENDOWMENTS FROM Investment income 198.445 206,758 EXPENDITURE ON Raising funds 39.723 54,048 Charltable actSVities Preservation of historic property 100,538 Total 126391 Nel gainsll1088es) on investments 951 15,885 NET INCOME 71,959 68,057 RECONCILIATION OF FUNDS Total fund8 brought forward 3,072.497 3,004,440 TOTAL FUNDS CARRIED FORWARD 56 3.072.497 CONTINUING OPERATIONS All income and expéndituré has 8risan from (x)ntinuing aclwilies. The $18lem&nl of fin8ndal activ11ies includes all gains 8nd losses recognised during the year. The noles lomi part of ihese fin2nci81 statèmants P5
The mouth Barbiean Trust Llmlted Re Istored umb 0593444 Balance Sheet 31 Dècambèr 2023 31.12.23 Unrestrl¢tsd funds 31.12.22 Total funds Notes FIXED ASSETS Heritage assets Investment property 20.000 2,675,000 20,000 2,675,000 2.69S.000 2,895,000 CURRENT ASSETS Debtors Investments Cash at bank and in hand 10 171,823 2,605 142,694 2,700 265,968 479,305 411,362 CREDITORS Amounts falling due within one year 12 129,849) 133,865) NET CURRENT ASSETS 449,456 377 497 TOTAL ASSETS LESS CURRENT LIABILITIES 3.144,456 3,072,497 NET ASSETS 3 144 456 3.072 497 FUNDS Unrèslricted lunds 13 3 144456 3.072,497 TOTAL FUNDS 3 144 456 3.072,497 Th8 charitable company is enlilled to exemption frgm audit under Section 477 of the Companie8 Act 2tK6 for the year onded 31 December 2023. Th6 mèmbèrs have not rsouir8d th8 company to obtain an audit of its financial statements for tho year ended 31 December 2023 in accordance with Section 476 of the Companiès Act 20C6. The trustees ad(nowledgB Ih¢ir iosponsibililios for lal ensuring that the charitsble eompany keeps accounting records that CoMY with Sections 386 and 387 of the Compsniès Aet 2006 and preparing finan[ slÈlèments which givè a truè and f8ir view of the state of affairs of the charitable company as al the end of eath ffinancial year and of ils surplus or defiGil for oach financial year in accordance with thè requirernents of stions 394 and 395 and whiGh otherwise Gomply with the requirements of the Companies Act 2006 relating to ffnancial slalements, so far as appIlb]e Ic> the charitable company. Ib) These financial statements have been ppared in accordance with the prt)vSslons applicable to charitable companie8 subject to the small companies regime. The financial state ..1 L/.?/p.LJ.. were approved by the Board of Trustèès and authorised for issue on and were signed on its behalf by. C Robinson- Trustee The not¢s form part of thes¢ financial statements Page 6
The Pl mouth Barbican Trnst Limitad Notes to the Finaneial Statamants For The Year Ended 31 December 2023 ACCOUNTING POLICIES Basls of pr6parfng the financSal statements The financial statements of the charitable company, whiGh is a public LEnefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 11)21 Aecounting Ènd Reporting by Charities.. Statement of Recomm&nded Practice applicable to charities preparing th8ir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (Second edition-oclober 2019) (effedive l January 20191., Financial Reporting Standard 102 'The Financial Reporting Stsndard appllcable in the UK and Republic of Ireland, and the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements have bèen prepared under the historical eost Convention, as modifjed by th@ revaluation Df certain assets. The charity is limited by guarantee. incorporated in England in the UK. The regisIoTed office is 7S North Hill. Plymouth. PL4 8H8. These finanei81 statèments for the year-ended 31 Decembèr 2023 comply with FRS 102 Th& Financial Reporting Standard appliGable in the UK and Republic of Ireland. The th?ttty ha5 tskBn advanlage of the disclosure exemption to section 7 and does not include a cash low stslement. Thé financial st8tÈments arè prèp8red in sterling which is thè function81 currew of the eharity 8nd rounded to the nearest £1. The trustees considei there are no material Unrtainlig5 about the charity's ability lo continuè as B going concern. These financial slal8ments ale pr8paied on a going concem basis. Thè significant a¢¢ounting policiès applied in the preparation of these financial stslements afft sel out below. These policies have been consi51enlly applied to all yearB presented unless olhgTwise slated. Crltlcal accountlng esllmaies and judgements Key estimate is carrying value and revaluation of investment properties which are held at market value. The trustees review the market value in the financial statements annually, and obtain periodic assessrnent of market value from a firm of professional chartered surveyors to provide their view and estimate of the PTDperty valuations. The last professional valuatlon was carried otjl In 2022. Provisions for doubtFul debt are calculated and Included based upon by the property SU0MmIttee review of récovèrable debt. Estim8t8S 8r6 includéd b8sÈd on débts more than thrè8 months old. No general prcivisions are IndLKSéd. Income All income is recognised in the Statement of Financial Activi118s once the tharity has enbl]8m8nl lo the funds, it is probable that the income will be recewed and the amount can be measured reliably. Rental income is recognised over the term of the lease. Income received in Vance is deferred and recognised over the period it relates. Expenditure Liabilities are recognised as expendiiure as soon as fhère is a legal or constwctive obligatn committing the charity to that expenditur8, It is probable that a transfer of economic benefits will be required in settlement and thè amount of thè obligation can bè mèasur6d réliably. Expènditur6 is 8ccounl&d for on an 8ccru8ls basis and h88 bgen classified under hoadings that a99reg*e all Gosl related lo the cal¢g0ry. Wher¢ Gosls cannot be iredly allribuled 19 partiGular heading5 they have be¢n allocated to aclivrties otl a basis collsistent with the use of r8sDureés. Heritage atsset$ Heritage assets comprise solely of an Elizabethan Garden in the Barbican area of Plymouth which has be¢n h¢ld for more than five years. This is held at market value with no provision for depreciation as the valuation is reviewed with sufficient regularity. Free aCsS is provided to the general public all year round belween 0900 and 1700 hours. The charity also owns a collection of images which has been gifted to the charity but these are not included in the balance shèet as the cost of valuing the library of imag&s in various mediums and conditions is not deemed mm?nsurate with the benefit derived from the useis of the nancIal slat¢menls. Page 7 continued..
ThePI mouth Barbi¢an Trust Llmlted Notes to the Financial Statements - continu For The Year Ended 31 December 2023 ACCOUNTING POLICIES-continued Investment property Investment properties con51Sts of a collection of historie buildings dating from the Elizabethan period in the Barbican a¥Èa ol Plymouth and are let under commercial and private tenancy agreements. These aTe not available for public a$S internally and therefore the properties are classified under the SORP as investrnenl properti8s. The properties are held al market value. The Directors are of the opinion that the Trust's propejties aw kept In such a slate of repair that they consider that no provision for d8preciation need be made. Taxation The chartty is exempt from corporation tax On its charitable activities. Fund accounting Unr8slricted funds can b8 used in accordan with the charitabl8 obj8clive8 at the discretion of the trust88S. Restricted funds can only be used for particular re8tricted purposfjs within the objocts of th¢ charlty. Restrictions arisg when speci*ed by th8 donor or when funds are raised for partiwlar resltid¢d purposes. Financial instruments The trust only has ffnancial assels and financial liabilities of 8 kind that qualify as basrc financlal inslrum¥nls. Basic financial instruments are initially recognised al transaction value and subsequently tTEasured al thpir settlement value. Debtors Rent and other debtors are recognised al the settlement amount due after any discount offemd. Creditors and provisions Creditors are recognised where the charity has a present obligation resulting fiorn a past evènt that will probably resum in the transfer of funds to a third paty and the amount due to settle the oblig81ion can b¢ measurod or estimated reliably. Credilors are rec4Jgnised at their settlement amount. Deferred income is recognised in current liabilities to recognise r8nt income over the period it rèlates. Investments Investments are held in fisted UK holdings, and are held at their market value al each repwting dale. INVESTMENT INCOME 31.12.23 31.12.22 Rents receThied Deposit account interest Dividends 191440 5,874 131 206,264 388 106 198,445 2[,758 Page 8 contlnued...
The Pl rnouth Barbican Trust Limitsd Notès to the Financral Statements - continued For Thè Yèar Endèd 31 December 2023 RAISING FUNDS Investment management costs 31.12.23 31.1222 Propety management fees Cleaning Rates and water Light & heal Legal and professional fees Bad debts 17.640 1,475 5.746 687 10.982 3,193 18,836 1,032 3,131) 852 4.154 26.044 CHARITABLE ACTIVITIES COSTS 31.12.23 31.12.22 PrÈsèNstion of historical properties Building rnaintenancè Elizabeth Garden upkeep Insurance Govemance costs 38,809 4,811 26,482 16.567 58.065 6.270 21.058 15,147 86,669 100,538 NET INCOMEIIEXPENDITURE) Nel incomellexpenditure) is staled after chargingllcrediting).. 31.12.23 31.12.22 IndeFendent exarninotion costs 1,300 TRUSTEES. REMUNERATION AND BENEFITS There were no Iru8tees' remuneration or other benefits for the year endÈd 31 December 2023 nor for the year ended 31 Decetllber 2022. Trustèes. expenses D Buckingham and C Robinson were ieimbursed for expenses during the year as follows". 2023 2022 Travel Printing. postagè, stationery Meetings Telephone & IT Staff and volunteers entertainment and gifts 235 91 253 270 47 247 110 37 325 49 Total 896 768 P8g8 9 continued...
The Pl mouth Barblcan Trust Llmlted Notes to the Financlal Statemènts - Continued For The Year Ended 31 D¢cember 2023 FINANCIAL INSTRUMENTS The carrying amounts of thè company's financial insltutnents are as follows: 2023 2022 Financial a$$ots Measured at fair value through net income l expenditure Current 88set listed investments Debt inslTuments measured at amortised (osl Trade debtors Prepaymènts Cash 81 bank 198,730 2,331 304.879 166,736 2.003 265,967 Financial liabilitlès Measured al amortised cost Trade creditors Accruals and deferr8d income Accrued expensÈs VAT 3,390 18,543 3,454 8.478 18,675 3,535 7.639 HERITAGE ASSETS Tf)tal MARKET VALUE At 1 January 2023 and 31 December 2023 20,0(] NET BOOK VALUE At 31 December 2023 At 31 December 2022 20,000 Heiitage as5els, compse sotety of an Elizabethan Gardan at 34 New Street, Th6 Barbican, Plytnoulh which dates to the 16th Century. Thè small walled garden contains low box hedges and flora of the Elizabethan period and has cobbled paths with old stone seats. The garden is maintained throughout the year. The Gardén was revalued by Slratton Creber Commer¢lal In 2022 to an unchangèd open market value of £20,000 sincè 2017. The charity owns, or looks after on l(>an, a collection of over 170 indwiduals collèctions induding dose 19 one million negatives dating back lo Ihè 1870's known collectivety as Soulh West Image Bank (SWIBI. The colleGtions were gtfted to the charity since 2007 and have no value in the balance sheet as the cost gf valuing the collection in various mediums and condition8 is nol deetned commensuraté with the benefit derived from the usérs of the financial statsments. Over the years the charity has undertaken to store the images digitally and keep the original mediums in good order. In 2017 the charity entered an agreemonl lo loan the SWIB collèction to PlymoLrth Museum GalleiiBs Archives lo managè, digit81ise and maintain ft>r public viewing as part of the Ptymoulh city Council The Box, project as referred to In the public benefit section of thè Trustees report on page l. Pag8 10 conllnued...
Thè Pl mouth Barbican Trust Llmlted Notes to the Financial Ststements . continued For The Year Ended 31 De¢ember 2023 INVESTMENT PROPERTY FAIR VALUE Al 1 January 2023 and 31 Dember 2023 2 675 000 NET BOOK VALUE Al 31 Dember 2023 2 675,000 Al 31 December 2022 2 675,000 Investment properties wnsist of a collection of historic buildings dating from thè EIiz8bethan period, not available for public access InterllY and thetefore the properties are classrfied under the SORP as irtvèslmenl propÈrtiÈ8. The TrusY8 freehold properties wèré rèvaluèd by Stratton Creber Commeraal, Chart¢r¢d Surv¢yors, al 31 October 2022. In their opinion, the open market value ofthe propertiès at that date w8s £2,675,WO_ The Directors ar& of the opinion that this value remains appropriate market value ol the buildings. The hislorfcor cost figures including reversions are £422.054. 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Trad¢ doblors Other debloTS Pr8paymenl8 and accrued income 42,614 126.878 2,331 58,834 83,857 2.003 171823 142,694 CURRENT ASSET INVESTMENTS 31.12.23 31.12.22 Listèd invèstments 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE Y&4R 31.12.23 31.12.22 Trade creditors VAT Accruals and deferred income Accrued expenses 3.390 8.478 18.543 7.639 18,675 3.535 29,849 33,865 Defèfféd income relates lo rental income recognised over the lease contract period. Deferred income reconciliation.. 31.12.23 31.12.22 Balance broUt forward Amount released lo statement of financi818ctivilie8 Amount deferred in thè year 18,543 18,543 18.675 17,716 17,716 18,543 Balance carried tOard 18.675 18,543 Page 11 continued..
The Pl mouth Bart)Ican Tru3t Limited Notè$ to thè Flnanelal Statements - conlinued For The Year Ended 31 December 2023 13. MOVEMENT IN FUNtk8 Net movement in funds Al 31.12.23 At1.1.23 Unr•strlct•d funds General fund Revaluation Serve 799,551 2 272 946 71.959 871.510 2.272.946 3,072,497 3 144,456 TOTAL FUNDS 3 072,497 3.144.4S6 Nel movement In funds, Included in Ihe above are as follows. Incoming resources ResourTrs expended Gains and losses Movement In funds Unrgstrlctgd fund Gener81 lund 198,445 126.391} 1951 71,959 TOTAL FUNDS 198,445 126 391} 951 71,959 Comparatives for movement in funds Net movement In funds At 31.12.22 At1.1.22 Unrestricted funds General fund Revaluation r8serve 747,854 2,256,586 51,697 16.360 799,551 2 272 946 3,004,440 88,057 3,072,497 TOTAL FUNDS 3,004,440 68,057 3,072,497 Comparafjve nel movement in funds, included in th8 above are as follows.. Incoming resources ResOurS oxpended Gains and losses Movem8nt in funds Unrestrlctsd fiJnd$ General funtj R9valuatson résèrve 206,758 (154.5861 1475) 16,380 51,697 206,758 154 586) 68.057 TOTAL FUNDS 206 758 154.S861 15,885 68,057 General funds are held to cover maintenance and pr8s8rv8tion costs of the historic buildlngs It holds. Included within general funds is the revaluation rgSOtve of £2.272.946 (2022". £2.272.946}. Page12 continue(l...
The Pl mouth Barblcan Trust Llmlted Notes to the Flnaneial Statèmènt8- contrnuèd For Th• Yèar Endèd 31 Daeèmbèr 2023 14. RELATED PARTY TRANSACTIONS J Groves secratary of The Plymouth Bart)ican Trust Limited has an èquity intérèst in Bromhe8d Limit8d 8 company whiGh provide$ secretarial and accounting $oNi¢e$. which was paid £11.300 12022 £11,092). The amount outstanding al 31 Decetnber 2023 was £Nil12022 £3,390}. C Robinson a director of The Plymouth Barbican Trust Limitèd. leasès 34 Nèw Strèel and spacè B 41-42 New Street. The rentals due for the year wèrè £8,300 12022." £8,1501- Thè amount outstanding Èt 31 Dècèmber 2023 was £1.850 {2022.. £1,850) The Trust purchases indemnity insuraneè to protèct ttsèlf and its dirèctors from loss8s arising frotn any wrongful act of its dirèctors and to indemnify thèm against their légal liability ariging from any claim against thèm. Thè ¢ost ofthls insurance £1,15712022.' £9721 has been charged lo supptsrt costs. Page 13
ePI mouth Barblean Trust Llml Detailed Stalement of Financial Actyvltles For The Year Ended 31 December 2023 31.12.23 31.12.22 INCOME AND ENDOWMENTS Invgstsnont incorn8 Rents rÈcèwed Dèposit acwunl interest Dividends 192,440 5,874 131 206,264 388 106 198,445 206,758 Total incoming rèsoureèj 198.445 2Q6,758 EXPENDITURE Inveytmènt managèmènt ¢o$ts Property management fees Cleaning Rates and water Light & heat Legal and professional fees Bad debts 17,640 1,475 5,746 687 10.982 18,836 1.032 3,130 852 4,154 26,044 39,723 54,048 Support costs Management Property repairs Insuran Sundries Bank charges 43,620 26,482 1,182 531 64.335 21,056 974 41 71.815 86.408 Governance costs Independent examination costs Secretsrial services Trustee expenses Trustee insuran 1,500 11,300 896 ,157 1,300 11.092 768 972 14.132 Total resources expended 126.391 154,586 N•t In¢om¢ 72,054 52,172 This page does nol form part of the statutory financial statements Page 14