REGISTERED COMPANY NUMBER: (K)593444 (Ertgland and Wales) REGISTERED CHARITY NUMBER: 203774 Unaudlted Hnancial Stat•m• ForThe Yw End8d 31 DeG8mb8r 2024 TheP Devonshwe Vdla 52 Stuart Road PL34EE cOnt￿ts oftha Fmaneial Stat•ments Year Endad 31 D•c•mber Page Report ofth8Trust••s 1 to 3 Ind¢pond¢nl Exarninerfs ReP￿t ststement of Flnanclal Activiligs Notes to the Financial Stat•m•nts 7 to 13 D•talhd Statwnont of Flnancial Activitiès 14 outh Barblcan TTU5t Llmttpd of the Trustee5 orThe Year Ended 31 December2024 The trustees who are also dwectors ol charity f(x the puwpws of the C mantain, pr8$8￿. improva. manage aThJ devekjp such 8ss*s'. Th• txrectors have relerred to guKlanrx contained in Ihe Charity cL¥llm1￿cTh general guOance ￿ public b8neffiL Publlc ben8fft Plyrnouth Barbican Trust Limited acquires prwti8s of hi8loTiC nalure wthin the city of Plym￿. This includes 80me bNenty prop6rb8s in historic 8ath"¢an aw of p￿K)uth. and dwit8 ￿Uired ref￿bIShMent of buildings this is always with ttte preserwation oflhe ly5t￿r aw In mind. South West Imag9 Bank ISWIBI was set up in 2007. lo ￿ate a lully a¢￿￿tle otFsite and on4n8 gallèry. shop and search suite. This has been d8sgn8d to aeeornTTN)date ￿ aud￿c*S from sthool groups, famikne5, t(wrists, local htstory sooeties and other students. SVWB ￿s0 588ks to inttract with the general pub￿¢ aThJ has devebped a series of items to complement the photograph￿ rec¢xds entrusted to Ihe ar(*bNe. In &Jdilx)n to SWIB'S ongcxng pre$8rvation and access work, th8 arch￿¢ has also coorrjinated a series of prr4ects tD fvrth8r corTylement the ber*fits to le2rning which lies at the core of all their outreach objecbve* SWI8 has aL80 devebted a INing archNe bo¥Jy of WOTk de51gned to eno)ur8go peop18 to deposit the￿0￿1 ￿￿p0[a[Y wnages Ixn be preseNed as archN85 for the ILrture. In 2017, The eoard made the de(asion to 108n the SWIB colleikn ¥) its entirety to Ptyrnouth Cty Coun(xl 85 part of Th8 Box project for an In￿al pericxy of bwenty fve year5. Th8f8 have beèn no Changes to these arrangements Ihis year. plym￿ Cty CtyJnul The Box has sha￿d obiecknves f(K the IX)lecJ)￿ being fr88ty available for wewing to the general publi The Box p￿￿d6 perknjic feedback aThJ utMJates to The Pthnl th8 ¢X)I￿vJn. The Twstees have had regard to Chwity Co¥nmi5sion guttsnco c4) b￿efit ACHIEVEMENT AND PERFORMANCE ChaTltable acliwti¢s The charity currènuy holds p￿pertieS of historK inieresl wkuth it r8Trts to comrnercial and private Ind￿%￿a￿s. financial slatements foT 2024 incl￿￿ ongcwig roubne n￿1n￿anCe. [w￿lOn and management of such prtsporU8s. The day to day management of the Properties is carried (yjt by Stsattffi Commewl. They cary out an annual asS*xs￿￿nts on behdf of the charity of the wcMk8 reql￿r￿j to rnantain all kYopeTb"es. hawig due ￿ns￿leration tha needs of the tonar)ts and p￿￿a￿"on of their trustorical imp￿arKe. Property reports aro presented to Ihe Board at Board meetings for consideration. w¢￿ Ihis year incknkle maint8narth works at the ElYzabeO)an Gardens. The Board ass95s each w(¥ect with a need to baarttthe ￿ul￿n￿l 0[￿ts wth [￿e9￿tiOn oftt* hithrfc area. The Property Con￿ltte￿ ca)nknue lo meet 8fKI rewiew ￿ pO￿L4e acquutscffis Ihat fit in the remil of Dur portfolio and aims. The Plyrnouth Ba￿l¢an Trust ￿MIted retains ¢Jvner51TiP of the SWIB ￿lleCtion but has loaned Ihe collection in endrety to Plymouth City Council for an twm Df five yeaT8. Plymouth City Counul took over iho right to conserve, rn8nag& and use SWIB col(ecbon aTrJ the ¢cAlecth)n fc* the Sa￿ chariLab￿ alms as us throughoui d)e ban period lo continue to act as a bisual meryw of the community. accessible by the general p￿)riC. FINANCIAL REVEW Inve$tment policy and ob￿ctIVeS An investment review was u7ied Lxrt by the Board during year. The ManageM￿t wnmittee has rA)nsider8d the most appropriate policy for investing funds. and has found Ihat spre&liTrJ fijnds across relatr.vety liquid or short notice a¢counts, toggther wth bank current accounts meets thew reqU1￿Ments. FurKJs have be8n invèsted in new accounts with a to achiÈviThJ a financial r81urn throw inte￿$t. A certain amount of fvrKJing needs to be available on a dali y basi5 arKI the dirECtors consider the retum thal they r8C8iW8 ¢)n thw 1nvestrn￿ts to be sabsfadory and low risk as r8quired. These a￿ reflected as cash at bank in the fina￿A￿ statern8nts. Page 1 The *)4th 8arblcan Trust Llmlled R ort of the Tn￿tee$ Dece FINANCIAL REVIEW Resorve5 polky It Is the policy of company to try and mant*n a18V8101 fr88 reserves. that are 1kn8 unrestricted ffijnds which ara not invesled in fixed assets, designated fcK a specffic purpose or otrerv4ise rxxnmitted whith rr￿t the ¢xJ5t of th8 Trust'5 governance and Ihe levd of its preSeNatiC￿ ￿lIcY wthin its availab￿ tthgol. The Trustees Opini￿ that thi8 level of r￿erVeS woutd be adequate to maintsin uninterrvpted wvices in tho wil ofa rnai￿ b)ss in funding. There are no reserve fijnds whith are ol a designated nabjre. At 31 Decembw 2024 the levd of resetves totsl £3.156.881 of £28￿.{￿ rerKesents the ranwng value of properttes. £461,881 12023.. £449,456) free reseNes I￿￿efOre rewes&ts funds to o)ver Maint￿nce and pres8rvats.on Costs of SLKh buildinsts h8&J. The Board also have a k>￿er terrn otiecbve 1D aquire ad(fftK)nal prwbes S￿¥j￿1 suit8t￿e ones I￿orne available which fit current airns. In order to do it ￿11 ba r￿Ssary to and hdd free rese￿8* FUTURE PLANS The charity aims to ¢C￿lnue b) preswe ifs exisb.ng of propth& The Board is ahvays revwng potential fc new propwty acquisiti￿$. STRUCTURE. GQVERNANGE AND MANAGEMENT Governing docum•nt The Plymouth Barbican Tntst Linyied 15 a d￿rity rgjistwed vrilh the Charrty Commission in England and Wales No 203TT4. Fomiety known as The P￿Utt) Ba¢b￿an AssOciali￿ ￿MIted. the cx)rnpany thanged its name kn The ply￿Uth 8arbican Trust Limtte(l ￿ 13 Aw"12011. The ¢c*n￿nY is Iwr¥tèd by guarantee, has no share Capital and its r8gistered nutnber is 00593444. In ￿ event of the corTyany l￿n9 wound up. the of eath member is limited lo £1. Th8 COTTbpany was incorporated on 11 Novernber 1957 and is ti is governed by its Articles of Asswation of thi date. NowArtic￿$ of Assoek4tion wtrè Èpprovèd by thè Board on 20 ju￿ 2019. Roerultment and aprrt•lntsnent of r*w trustees The directors sh811 e2rry out the eleclion of the al the Annual General Meetng. Norninatrons shan b8 mad8 in itll)g. Each nomin8bon must ￿ prO￿d and serx)nded by a (firector of the company arKI acxornpanied by the written cOnS￿t of tho ncAninee. New direct(￿$ ￿ irKJucted ￿t0 the w￿￿ng$ of the tharity during meetings held. Directors are rewited to rAovide the specific sknlL8 and eyperen(e re¢wired to govem the TrusL They are prO￿ded wth regular intemal and extemal tr)formatson rolèvant to the Tnjsfs goVUna￿. induding to the Tru$Vs properties as n8cessary. Organi5ati¢)nal struGturp Overall rosponsibility for the ma￿￿￿Trt of Ihg Cunpary is vestad in Ihe dir9*￿. The CorTyany hL4ds at ￿ast three c(nmittee r￿tir@S during the year. These meetiry$ are (KpThsed by the directors to continu8 With the worf necessary to maintain the obj8¢ts of the charity. The direrjors of the (x)mpany. who are the charity trustees, form the Ptymouth Bathcan Trusts Couwl of Managern￿L They are requir￿1 to refy￿ every years and may offer th•mSe￿e$ for re•appointm& On 8 day to day basi5 the charity ks manajed by the company seixEtary James Groves. REFERENCE AND ADMINISTRATfrfE DETAILS Regl$tered Company number 00593444 (England and Walesl Rtglst•r•d Charlty n￿rn￿r 203774 Reglstered office Harscombe House 1 Darklake View E8tOV8r Plymc Devon PL6 7TL P8gg 2 Barbican Trust Limited rtofthe Truste85 FIX The Year Enthd 31 ecembar2024 Trustses A P Golding RDEay D E Buthngham P R ButTOW5 M J Coles (resigned 12.9.24} E C Kéast C Robinson chai￿r$on W Scutt KCHood C H Theyer R J Atkins Company Secretary J A Groves Indèyndènt Examlner Guy Northcott FCA NorthcottTNmfietd C*artered Acwjntsnts Devonshire Willa 52 Stuart Road Plymouth Dev￿7 PL3 4EE 50licltors Wolferstans Deprf￿d Chambws 60164 North H￿1 Pjyrnou PL4 8EP Prop•rty Consultants Stratton Creb8r Comm8roal Farrer Court 75 North Hill Plyrllouth PL4 8HB This rerxxt has prepar9d in arQJrdan￿ with Ihe sptcial of Part 15 of the c(mpan￿ Act 2￿J6 relating to small cotrpanies. Approved by ordwof 11].?./ br rd oftrntst￿S on ..... . . . and its b8haK by." C RObIns￿- Trusteo Page 3 nd•nt Examin•rfs R rtto thts Trustees of Th8P mouth BarbKan Trust Limited Indapendent exzmlnerfs report to the tntsteo5 ofThe Plymouth Bthkan Trust Llmited nhe Compan￿) I report to the charity ￿$te8$ on my 9￿InatiC￿ of th8 accAxJnts of th8 Cornpany for the year ended 31 December 2024. Rèsponslbllldes and basls of report As the charity'5 trustees of the Cortyany land aL%o ts for tt)e wrtws ol company law} you are rèspcmsitrA8 f preparation of the accounts in acconlance with the ￿Uirements of ￿ Compantes Acl 21)06 Ilhe 2006 A¢t'l. Hamng satisfied rnysdf tl*t the accolmts of thè c￿￿Y a￿ nol wuired to be ￿rted urthr Part 16 of the 2006 Act and are eligible for independent exarninatson, I rEP(Kt in tesped of tny examination of your chariW$ accounts as c2rried out under Section 145 of Charitie5 Act 2011 2011 Acn. In Carryi￿ oui my exatninats"C￿ I have foltowed the Direct￿n5 giv8n by the Charity Commission undw ￿lL¥) 14951 Ibl of Ihe 2011 ACL Indgpgnd•rtt •xamln*s stat•m•nt I havè COM￿￿ted my èxamination. I cA)nfimi that no matters have (xyne to my attentron in oJnn8ction f examinat#)n willg me ￿uSe to believe: aCC(4Jnts"ng rectrds wwe not kept in respectoflhe cC*m￿nY as wuired by Sed]C￿ 386 of the 2006 Art or the accounts do nat accord wtth Ihos¢ records". c the accounts do not comply wtth the accounts.ng reqU￿eTr￿tS of Section 396 of the Act otrer than any req￿r￿ment that th8 a￿oUnts gve a ¢rua 8fkl fair view is not a maiter consi￿red as part of an independent examinabon,. or the a¢counts have not been prepared li artsrd8r￿ v*ilh the methcAls and prirriples of Ihe Stat8m8ni of Recomn*nded PtactKe for a￿nting and by {athicknle to tharities preparing their accounts In aCwrdart￿ wth the Fina)cial Reporting Stsndafd aFylKatle ￿ the UK and Republic of Ireland IFRS 10211. I have no o)n¢ems and have corne acxoss no oth8r mattgrs n ccmnection with the examinah"¢)n to whKh attentiDn shou be drawn in this report in order to enatrA8 a proper urn*rstaThYing ofthe axcrtjnts to be reathed. Guy Nolhcx)tt FCA The Insliiute ol Charte￿d Accwntants kn armj Wales Northcott Trumfield Chartered ACc￿Jntants Devonshire Wa 52 Stuart Road Plymouth Devon PL34EE Dat•.. Page 4 th Barbican Tru51 LDDited Statement of Financial Act[¥it￿S oratin an In￿rne and Ex nditure Aeeou For The Year Ended 31 D8cemhor 2024 31.1224 Unrestrictsd funds 31.12.23 Total funds INCOPIE AND ENDOVIMENTS FROM Investmnt inc¢ffie 225.785 198,445 EXPENDITURE ON Raising lunds 39.320 3g.723 harltablo act1v1￿•S presalvati￿ of historic property 17S.989 86,66S Total 215.309 126,391 Net ga#isl(bssesl on investments 1,949 1951 INCOME 11425 71.959 RECONCILIATION OF FUNDS Totsj fund$ brought f￿ard 3.144,456 3,072,497 TOTAL FUNDS CARRIED FORWARD 3,156.881 3,144,456 CONTINUING OPERATIONS l incorn8 and expenditure has artsen Irc￿ C￿tir￿Ing aclmbes. The ststement Dffinancial athiDgs indudes 81 g8ins and k)sses reu)gnKsed during Ihe year. The t7otes lom) partol these ffinanoal statemenis Page 5 TheP mouth Barbican Trust Lirnitsd R ist8red number. 00593444 Balanc8 Sh88t 3108cembar2024 31.12.24 31.12.23 Total futKIs Unrestricted funds FIXED ASSETS Hèritage assets Invéstment propety 20.000 2,675.( 20.000 2,675,000 2.695.( 2,695,000 CURRENT ASSETS Dablors 1￿èstr￿e￿t Cash at bank and •i hand 10 11 91,035 4.553 397,132 171,823 2,605 304,877 492,720 479.305 CREDITORS Amounts Idling due wlhin one year 12 {30.8391 (29.8491 NET CURRENT ASSErs 461.881 449,456 TOTAL ASSETS LESS CURR￿ UABILMES 3,156,8B1 3.144.458 NET ASSETS 3.156,881 3.144,456 FUNDS Unrestricted funds 13 3,1S6,881 3,144.456 TOTAL FUNDS 3,156081 3,144.456 The tha[Itab￿ cornpany is entiued b) exempbw fw audit Sedmin 477 of Cth)pan￿S Act 201% for the year eryjed 31 December 2024. Th8 memb8rs havè not r•quir*J Ihe corrwiy to gn autht of its fjn&xial statements for the year ended 31 December 2024 in ac£ordancewith Se(*on 476 of the COmpan￿S Act 2L￿. The trustees a¢knO￿g8 Iheir lal ensuring that the tharilatAè company keeps acxthnl¥¥ recths that (xynpty v*1h SeciKJns 386 and 387 of Ihe Compan￿$ Act 2006 and prèparing finarKaal statements which a tn* and fw"r of O)e state of affairs of the charitable cc#npa)y as at the end of eath fina￿la1 year and of its suWu5 or defi￿t for 8￿h finanual year in accordanca wtth thè requirements of Se¢tions 394 and 395 and whK*J otheN4ise with th8 requirem8nts of the Compani8s Act 2006 relating to financ4al statements, so lar as aprIKat￿e to the charitsble o)nwany. Ibl These finan￿al statetnents Iwve Lwrb in accO[d￿ wth provisron5 app1Kz￿e to c*aiitable companies suk4.gct to the small companies regime. The financi I ststem were apprDved by Ihe ￿rd of Truste8s a￿1 8Uthorisod ts issuè .. and We￿ sign8d ￿ its behalfby.. C Rd)inson- The notes form part ofthese finanoal statwnts No to the FinancÉal Ststements For ￿ Year Ended 31 December 2024 A¢¢OUNnNG POLICIES a515 of p￿paring the financlal statements Th8 financial stat8￿nts of the charitab18 ￿MpanY, k% a ber*fft entty ￿der FRS 102, have been pr8p8r8d in accordanc8 WTth th8 Chawiti&s SORP IFRS 102} Aceounbng atNI RaKy)rting by Challties.. Statement of Recornmended Practice applicAble lo Char￿e5 pr8paruu their accounts in atyJ)rdanc* tho Finanaal Reporting Slandard arrf)licAtA8 in the UK and of IT￿￿¥j IFRS 1021 ISecotMI edi￿n-O¢t0ber 20191 (effective 1 January 20191.. Finarrial Slandwd 102 Tr Financial RepJrts"ng standaT￿ appI[ca￿e in thg UK and R￿11¢ ol IrelaNI' and Iho compan￿ A£t 2cM￿ and UK Generdty Accepted Accounting Practi￿. Th8 ffnanoal ststerrents have been wepored under Ihe lithrical cost COnV8ntin. as modffjed by the revaluation of r£rt8in assets. The charity is limited by guaranke, i￿orp(Ya1￿1 li Eryiand in th8 UK Th8 r8gStered office 18 Hars(xJr(ts House. 1 Da￿ake View. Est0v￿, Plymulh. Devon. PL6 These financial statements for Ihe year-ended 31 Dec£rtknr 2024 wlh FRS 102 The FinanrAs1 ReportW19 Standar(l applicable in the UK and RépublK Df IrdaThl. The has taken advantsge of the disdosur8 exempion tts section 7 a￿j does ts)t ndude a cash lkni stsiemiL The financial statmnts wop¥ed in $￿ing whth ¢s the rajrrency of the ¢harity and rrjundgd to the nearest £1. The trustees tr)n&der Ihere arè no mknia atK¥Jl fhe a￿￿ty to a)nthJe as a golng concsm. Th8sa financial statements ar8 prep¥￿1 on a￿An￿ rorKsm basis. Thg signfficant accounting pcAici&s in the preparati(xJ of Ihese finan(xal statements are s81 out bdow. These pol￿e8 have been cortststenty applied to am years presented otherwis8 Stat8d. Criti¢al a¢¢¢￿ting 88timates and judg*ngnts Key estimatè is can)ing value revalualw of Investh￿nt propeites which are heky at market value. The trustees remew the market value in Ihe finanoal statewnellts annu*, obt&n perf(xffic assessment of mart)st fvJur95 ind(*ling r8V8fsKKE are £422.054. 10. DEBTC)RS: AMOUNTS FALLING DUE WtrHIN ONE YEAR 31.12.24 31.12.23 Trade debtors (Xher debtor5 Pr8PayWn8nts and accTU8d irKt¥llè 37.467 50.917 2,6$1 42,614 126,878 2,331 91.035 171,823 11. CURRENT ASSEf INVESTMENTS 31.12.24 31.12.23 8ted investments 4,5S3 2,EOS 12. CREDITORS: AAIOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 VAT 8,882 18.507 7,639 18,675 3,535 Attntals and defwred f￿A)rr Accnjed ewernses 30,839 29.849 Defetted income rdales kn renlal re(wnised over thÈ ￿ntr￿t penod. Deferred incornè reetsrtu￿tion.. 31.1124 31.12.23 Balance brought forward Amount released to sta18rnent offfiancial thib& Amount deferred tn the year 18,675 18,675 18.507 18.543 18,543 18,875 Balance ozrrEd fO￿ard 18.507 18,675 Pw11 continu8d.. outh Barf)i¢an Trust Limlt Note5 to the FIna￿la1 Stat•m•nts- Gonlnued For The Yèar Endéd 31 Dec•mb•Y 2024 13. MOVEMENT IN FUhtDS [T¥￿e[nent in fvnds Al 31.12.24 At1.124 Unrestrfcted funds General fund Revaluation reseNe 871,510 2272.946 12A25 883,935 2,272,946 3.144456 11425 3,156,881 TOTAL FUNDS 3,144,456 12,425 3.156,B81 Net rnovement ￿ lunds. ￿(*j￿j in the above a￿ as fokn.. Ino)mirYJ Reswr eypended Gains and Movement in fvnds Unresthcted fvnds General fijnd 225.785 {215,309 12,425 TOTAL FUNDS 225.785 1215.309} 1P49 12.42S Comp¥atlv8s for movement in fvnds Net rnovement in fvnds At 31.12.23 At1.123 Unrostricted funds General Revaluati￿ ¥eserve 799.551 2,272,946 71.959 871,510 2,272,946 3.072.497 71,959 3,144.456 TOTAL FUNDS 3.072.497 71,959 3,144.456 ComparydtTh18 nel movement in funds. I￿￿led in lh8 aixjve 8re as fdbws". In¢>yniTrJ Fl8swrc85 Gains atwj jsses Movement In funds ur￿stricted lunds General fund 198.445 1126,391 } 195} 71.959 TOTAL FUNDS 198.445 1126,391) 1951 71,959 Genwa fvnds are hdd lo cover rrointeronrA and F￿8$￿￿1)0￿ costs ofthe historic builthngs it hold* Induded withln Unrest￿1& hJnds is Ihe revaluathjn reserve ofQ272.94612023.. £2,272.9461 Pwje 12 continued... ican Trnst Limited es to the Financial Statements-continved ForTh• Y•ar Ended 3 Decembpr 2024 14. RELATED PAFrrY TIiANSACTIONS J Grov05 secretary ol The F1yTrTrJuth Ba￿an Trust LiMi￿j has an w4uty int8r•5t in TC 8romhead Limited a company promdes seuetarial and accounting seTrice5. whKth was paKI £11,3(K)12023 £11,300>. The amount outstanding at 31 December 2024 £NA12023 £Nil}. C Robinson a director ￿ The Plymutti B*lxon Trust ￿rnit￿l, 188s85 34 New Str8et and Space B 4142 New Street. The ￿ntaL* dL* trirlh8 year wer8 £7.948 (2ff23.. £8,3￿)). The ar￿nt outstanthThg at 31 December 2024 was £1.850 {2023.. £1,WI. The Trust wrchas85 ind8mnty insvrance lo yotert it8eif and its thre¢th from ktsses from any wrongful ad of its directors and to indernnify agatiist their W liatslity arising from any daim against them. The ¢osE of thi% insuran(* £1.32612023: £1.1571 has been io wppK¥to)5ts. Pag813 Barbi¢an Trust Umlted alled Slatsment of Fknanclal Activtties For ear Ended 31 Dece 31.12.24 31.12.23 INCOME AND ENDOWMENTS Invtstm¢nt income Rents ￿Cer￿d Deposit account interest Dm1￿￿$ 206,304 19,342 139 192,440 5,874. 131 225.785 198,445 Tots] Incoming rosour¢ 225.785 198,445 EXPENDITURE Invostment managemgnt Costs prO￿ty Manag￿ent fees Claaning Rates and watBr L￿h1 & heat Legal and profassK)nal f*s Bad dtrbts 19,551 788 4.874 792 15.136 11.8211 17.640 1,475 5.746 10,982 3,193 39,320 39,723 Support cost5 Management Property repairs InsuraTh Sundries Bank ¢h8rggs 129.305 30,165 295 279 43,620 26,482 1,182 531 160,044 71,815 Governance costs Indgpendent examination costs se¢￿ta￿al Serv￿85 Trustee expens85 Trustee il￿VranC 1,500 11.300 1,819 1.326 11,3LM) 1.157 15.945 14.853 Ti)tsl resources eJpen¢Jed 215.309 126,391 Not Income 10A76 71054 This page ¢*)es not fonn part ofth8 StabJirKy ffinanL¥al statements Page 14