CmPANIEs HCKISE COPY Company Number: 0837970 Registered Charity number: 241258 Worcestershire Building Preservation Trust (Formerly The Worcestershire Buildin9 Preservation Trust) Report of the Trustees and Financial Statements Year ended 31 March 2025 Muras Baker Jones Limited Chartered Accountant5 Regent House Bath Avenue Wolverhampton West Midlands WVI 4EG 1111111111 •AEHM3XQL* 17112r2025 COMPANIES PIOUSE
Worcestershire Bulldln9 Preservation Tnlst (Formerly The Worcestershire Building Preservation Trust) Contents of the financial statements for the year ended 31 March 2025 Page Offficer5. professional advisers and administrative information Report of the Trustees Independent Auditors Report Statement of financial artivities io Statement of finanoal position statemenl of Cash flows 12 13 Notes to the financial statements 14
Worcestershlre Bulldlng Preservation Trust (Formerly The Worcestershire Buildin9 Preser¥atlon Tvust) Officersi professional advisers and administrative information Charity Registration number: 241258 Company Registration number: 0837970 Reglstered Offlce: WBPT 8 Pendeford Place Pendeford Business Park Wolverhampton WV9 5HD Trustees: H Andrews P Andrews N Hogben P Arnold Ms J Pilkington S Mason R Greenhill P Adams Ms S Whitehouse Ms K AndW A C Foster E G Barron N Crombie I Wilson R A Seller5 I D Tompkins L T Hobbs S E Reader F Keith-Lucas (resigned 21 May 2025) (resigned 21 May 2025) (resigned 21 May 2025) (resigned 7 November 2024) (resigned 21 May 2025) (resigned 21 May 2025) (resigned 21 May 2025) (resigned 21 May 2025) (resigned 7 November 2024) (resigned 21 May 2025) (resigned 21 May 2025) {resigned 21 May 2025) (resigned 21 May 2025> (resigned 21 May 2025} (resigned 21 May 2025) Independent Examiner Muras Baker Jones Limited Regent House Bath Avenue Wolverhampton W41 4EG
Worcestershire Build•ng Preseryatson Trust {Formerly The Wortestershlre Bulldlng Preservation Trust) REPORT OF THE TRUSTEES For the year ended 31st March 2025 srRucfuRE, GOVERNANCE AND MANAGEMENT The organisation is a company limited by guarantee and a registered charity. The company was established under a Memorandum of Association. which established the objerts and powers of the charitable company and 15 govemed under its Artides of Association. The company was ncorporated on 17th February 1965 as The County of Hereford and Worcester Building Preservation Trust and re-registered under the changed name The Worcestershire Building Preservation Trust on 17th March 1998. In the event of the company being wound up, members are required to contribute an amount not exceeding £1 (one pound). The Trust's name was once again changed in 2025, with the initial "The" being"dropped to simplify the name, whlch Is now Worcestershire Building Preservation Trust. The Trust wa5 reg15tered a5 a charity on 25th Marth 1965. The Trust is in the process of revising its Artides of Association in conjunction wtth establishing West Midlands Heritage Trust as a charitable incorporated organisation. This restructuring is anticlpated to complete by the start of the next Financial Year. Recruitment and appoirrtment of the Board of Trustees and inductlon and tralnlng The dirertors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Artides of Association, dirertors are elected to serve for a period of three years after which they may stand for re-election at the next Annual General Meeting. In the past trustee recruitment depended upon people being recommended to the Board and invited to join. The method of trustee recruitment was reviewed under the Resilience and Engagement project {see below) which commenced in February 2022. This instigated new approaches to advertising, recruitment and effective promotion of the Trust and successfully resulted in the recruitment of three new trustees this year to enhance the skills composition of Board membership. However, it is recognised that more work needs to be done on incwsing the diversity of Board membership. All 6oard members are larlY updated with infomiation pertinent to their role as directors and on matters relating to the operation of the charity. Thi5 includes an induction meeting for new Board members to familiarise them with the Trust's activitie5 and its legal 5tatU5. Risk Management The trustee Board has a duty to identify and review the major risks to which the charity Is exposed and ensure systems are in place to mitigate these risks. Established risk assessment and monitoring procedures have been reviewed and progres5 continues to be rnade on the development and ongoing update of risks. The trustees oversee the consideration of business and operational risks on a project-by-project basis with regular reports being produced to ensure that the necessary steps can be taken to mitigate and manage these risks.
Worcestershire Building Presetvatlon Trust (Formerly The Worcestershire Building Preservation Twst} REPORT OF THE TRUSTEES For the year ended 31st March 2025 Organisational Strurture The Worcestershire Building PSerVation Trust is managed by an independent Board of trustee directors, at present sixteen members, with a wide range of specialist and professional interests. Trustees meet six times per year. The Board establlshes formal sub committees, task and finish groups and projert speclflc steering groups to oversee particular function5 and plans induding management of specific building projects." On 215t May 2025. after the end of this financial year, the Trust, and its partner Trusts (West Midlands Historic Buildings Tnjst and Wolverhampton Heritage Trust) underwent a structural change which sulted in the resignation of a significant number of Trustees. The establishment of West Midlands Heritage Trust as an umbrella body is a means of removing many joint administrative attivities from each of the Trusts, leaving them to focus on building projerts artivities alone. As a result the number of Trustees in ead) of the "Project Trusts" has been reduced to just those whose who are directly involved in the Current buildings renovation projects in each Trust. All Trustees have become Trustees of West Midlands Heritage Trust. along with those in the other two Project Trusts, so there remains a consistent approach to the work of all three Trusts. This redistribution of Trustees accords with Charity Commission advice for a charitable incorporated organisation as now established as West Midlands Heritage Trust and our long estsblished Project Trusts. DTS Solutions Ltd provide Project Dirertor and advisory services to the Board of Trustees. The Trust has a pool of Projett Organisers on whom it can call for consultancy services when potential projects are identified. Frameworks for the services of Design Teams for projects are under development and a Legal Services framework has conduded this year in respect to govemance and projects work, In collaboration with West Midlands Historic Buildings Trust and Wolverhampton Heritage Trust grant aid is in place to support joint staff posts to assist with the identification and development of potential project buildings and to raise the profile of the organisation, induding enhanced community engagement and the administrative 5UPPOrt required to ensure effective day to day management. A further grant aid project has been agreed by Historic England to fully support a Head of Project through to 2027, with previous staff roles now funded dirert. The Re9iStered Office of the Trust is now located at the premises of TAG Accountants Group (fomerly Copia Wealth and Tax Ltd) Wolverharnpton, who also provide bookkeeping services to the Trust. OBJECTIVES AND ACTIVXTZES Objectives The objects of the Trust are to preserve for the benefit of the nation buildings of especial beauty or especial historlc or architectural interest. The Trust Is speclfically interested in buildings located within the County of Worce5ter5hire which are neglected. decaying or at risk of demolition. especially Whe efforts to secure a commercial solution have not been found. Whilst the emphasis is on statutorily listed building5 and heritage a55ets within designated conservation areas consideration will be given to all buildings of architectural or historical merit. The Trust also seeks to research and inform the community about the arthitertural heritage of the County.
Worcestershire Building Preser¥atlon Trnst (Formerly The Wor¢estershire Building Preservation Trust) REPORT OF THE TRUSTEES For the year ended 31st March 2025 Publlc benefit In setting the Twst's objectives, the Trustees have given careful consideration to the Charity Commission general guidance on public benefit. All projects seek to engage with local communities and seek solution5 for reuse of buildings at risk that will be of public benefit. Actlvltles In accordance with the powers, we have, in promoting the objects: Maintained contact with local authority conservation officers, Historic England and other relevant organi5ations to promote our objects and seek data on heritage at risk across our area of interest. Responded to requests for assistance on buildin9s at risk and investigated the viability of potential candidates for projects brought to our attention. Sought to safeguard the long-temi viability of the organisation by working dosely with other building preservation trusts including West MlandS Historic Buildings Trust and The City of Wolverhampton Regenerating Buildings Preservation Trust with whom work on a joint Business Plan has made significant progress this year Continued development of our website and social media profile to keep our communities infomied of Trust activities, projects and other subjects of interest ACHIEVEMENTS AND PERFORMANCE Willow Court (formerly Boycott) Farmhouse, Droitwich This grade Il listed building originated in the 16th century with a surviving timber framed element to the rear Subsequently extended with a larger brick StrUrtU in the 18th century. The building has been vacant for 20 years resulting in it becoming at seriou5 risk and 15 located in an area of significant local deprlvation. The project aims to prcsvide a secure future for the building by converting it tp 6 residential apartments. along with activitie5 to involve a wide range of people in heritage with benefits for the local community and local economy. Heads of Terms have been agreed with Platform Housing Group to lease the apartments as affordable housing. The building remains in the ownership of Wychavon District Council until prartical completion of the delivery stage which commenced in April 2024. The Delivery Stage of the project effectively commented In February 2024 with the SUMption of Project Steering Group meetings to distuss matters required to achieve 'Pemiission to Start, from The National Lottery Heritage Fund, fine tuning of design details, increased social media communications and some preliminary works on slte including rep1arnent of protective sheeting to the scaffold. A Heritage Engagement Co-ordinator has been engaged to provide 5eryices for Willow Court Farmhouse and the St Michael's pla project being developed by the West Midlands Historic Buildings Trust. This post will significantly enhance the Trusts. capacity for community outreach work. The total budget for delivery has been reCallated at £4,225,421 with funding secured from The National Lottery Heritage Fund. Wychavon Di5tritt Counol, Platform Housing Group lease purchase, various smaller grants and non-cash contributions induding volunteer time. Construttion works on site commence in April 2024 and will continue through into 2026 under a Building Contract with Messenger BCR.
Worcestershire Build•ng Preservation Trust (Formerly The Worcestershlre Bulldln9 PreseThatlon Trust) REPORT OF THE TRUSTEES For the year ended 31st March 2025 Buildings at R•sk The Trust has continued in its efforts to identlfy conservationlregeneration projects within Worcestershire. Discussions with property owners, council officers and other partner organi5ations have taken place and the Trust continue5 to maintain a watching brief on opportunities for Trust involvement in buildings at risk in Worcester city and beyond. Via the jointly produced 8uilding5 at Risk App (see below) the Trust is continuing to recnjit volunteers to assist with the identification of buildings at risk within the County. Working Wlth Partner Trusts The collaboration with Wolverhampton Heritage Trust and West Midlands Historic Buildings Trust (together the Three Trusts} to mutually support common activities has continued to work well during the past year. Sharing staff and other resources with neighbouring Trusts will secure a transformative change in coming years supported by the adoption of a joint Business Plan nearing completion. In'the 2024125 financial year the collaboration mentioned above has continued and whilst various initiatlves are currently of neSSIty operated via the West Midlands Historic Buildings Trust, they are contributed to financially and provide benefits to all three Trusts. ACHIEVEMENTS AND PERFORMANCE Ca aci Buildin Staff Recruitment - Joint Pro In late 2020 a grant was awarded by Historic England enabling the 3 trusts to move towards employing two members of staff: a Heritage Development Officer (HDO} and a part time Heritage Development Support Officer (HDSO), and to establish a shared office (currently based in Worcester one day per week) with employees also working from home unts"l a permanent office can be established. Following a ompetitive recruitment process two staff started in post on 1st May 2021 with contracts ending mid- 2024. The existing staff have been retained from the end of this funding by contributions from project developer return. Historit England a now fully supporting a Head of Projects member of staff through a new grant aid agreement through to mid-2027. A Project steering Group meets regularly to oversee delivery of the Historic England funded projert with delegated authority to make decisions within the project scope and budget. A Human Resources sub-committee of trustees has also been established to oversee matters relating to Staff employment with the support of a human resources consultant. A key outcome for the Capacity Building Project is the establishment of a Buildings at Risk Reglster for the area covered by the three trusts and that this Should allow for public engagement with the process. Progres5 on the 'Buildings at Risk. App (launched in 2022) has been consolidated during the year including securing additional funding towards the costs of developing a business plan for the BaR App to enable sharing of the platform with other Building Preservation Trusts. The BaR App is currently being used under licence by a County Historic Building Trust with interest being expressed by at least 2 other Local Authorities to licence the BaR App. Re ce&E ement Joint Pro ect The Strategic Wan 2021-2025, adopted by Trustees induded a resolution to pursue further funding application5 to progress work on business planning and audience development. A successful application to The National Lottery Heritage Fund awarded grant aid up to £82.542 with approval to start in late January 2022. The Projett Steering Group meeting on a monthly basis appointed Bearwood Associates Ltd, following a competitive tendering proce55. to manage the Resilience & Engagement Project.
Worcestershire Buildin9 PreseTha*ion Trust (Formerly The Worcestershlre Building Preservatlon Trust) REPORT OF THE TRUSTEES For the year ended 31st March 2025 Further consultancy posltions of business planner and evaluation consultants were procured. The project airns are to produce an Audience Development Plan: develop a Business Plan to identify new income streams and busine55 models: Strengthen Organisational Resilience by recruiting new trustee5 and volunteers and to understand the environmental impact of projerts and activities including how to achieve carbon net zero in the futu. This Resilience & Engagement project completed in this period, and it is antiopated that a further application will be made in the next financial year to support further strategic developments within the new structure indicated above. The Business Planning process commenced in summer 2022 has been an incremental process over the past three year5 as circumstances have been changing and access to grant aid to deliver aspiratlons has been uncertain. The proposed change5 in the business plan will be delivered through a long-term transition WhebY West Midlands Heritage Trust 15 established as a new Charitable Incorporated Organisation (CIO) which will effettively take on the role currently supported by the West Midlands Historic Buildings Trust. as lead Trust of the three partners. in terms of administrative support, employment of staff, general fund raising. publioty. marketing and branding including member supporter services. Legal advice on this way fonyard has progressed this year with a view to adopting the new 'umbrella' CIO as from 1st April 2025. The role of trustees is unlikely to change greatly until a more established senior staff team is in place and able to take the organisation forward with Strategic backing from the Councils of Management of the 3 partner Trusts. It is intended that all trustees will be invited Initially to sit on the board of the delivery organi5ation I CIO 'West Midlands Heritage. FINANCIAL REVIEW AND PLAfvIS FOR FITfuRE PERIODS The focus for the coming 12 months is to: Continue to develop a Buildings at Risk register for the County of Worcestershire working with partners in local authorities, Historic England. local communities and other relevant stakeholder5. Complete the joint Business Plan. including Fund Raising Strategy, develop a Marketing strategy and complete an Audience Development Plan. Follow up research with a view to identifying potential future projetts, make funding applications and securing working partnerships to seek solution5 for historic buildings'at risk. Build capacity to offer consultancy setvices to assist others struggling to save and conserve buildings al risk where 01ct trust intervention is not necessary. Continue to deliver the Willow Court Famihouse project in accordance with the requirements of The National Lottery Heritage Fund grant award including the delivery of community engagement opportunities. Contlnue working towards adoption of the Charity Governance Code. The financial position of the Trust is set out in detail in this Financial Statement. Reserves Pollcy It is the policy of the Board to maintain a level of reserrfes sufficient to ensure the continued operatlon of Trust activities.
Worcestershire Buildin9 Pres¢rvation Tnjst (Fornierly The worcesterIre Buildlng Preservation Trust) REPQRT OF THE TRUSTEES For the year ended 31st March 2025 Members of the Management Committee The members and dirertors who are also trustees for the purpose of d)arity law, and serrfed during the year, and up to the date of this report, are set out on page l. Responsib•l•tles of the Management Commlttee In relat•on to the flnanclal sLitements Company law requires the trustee5 to prepare Finanoal Statements for each financlal year which give true and fair view of the Charitable company as at the Balan Sheet date and of its income resources and application of resouros, induding income and expenditure for the finonoal year. In preparing those Financial Statements, the trustees should follow best prartice and: • select suitable Account policies and apply them consistently; make Judgements and estimates that are reasonable and prudent: and • prepare Finanaal Statements on the going concern basi5 unless It is inappropriate to assume that the company will continue on that basis. The trustees (who are also direttors of the charlty for the purposes of company law) are responsible for preparing the Trustees Report and the Finanoal Ststements in accordance with applicable law and UK Accounting Stsndards. The trusfees are responsible for maintainin9 proper accounting records which di5d05e with reasonable accuracy at any tsme the finandal position of the charitable company and to ensure that the Flnanclal Statements compty with the Compartries Art 2006. The trustees are a150 respoftsible for safeguarding the a55ets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In accordan with company law, as trustees. we certify that: so far as we are aware. there is no relevant audit information of whith the company's auditors are unaware; and as the trustees of the company we have taken all the steps that we ought to have taken in order to make ourselves awa of any relevant audit infonnation and to establish that the charity's audltors are aware of that information. Th14 report has been prepareL1 in accordan with the Statement of Reumnmended Practlce Accountlng Reporting by Charities (issued in 2015) ar in accordan with the pThisions appllcable to companies subjett to the small companies. regime. SIGNED ON BEHALF OF THE BOARD BY: Name: Edward Graham Barron Position: Trustee Date-
Independent Audltors Report to the Trustees of Worcestershlre Building Preservation Trust (Formerly The Worcestershire Building Preservation Trust) Oplnlon We have audited the finanoal statements of Worcestershire Building Preservation Trust (the 'charitable company.) for the year ended 31 March 2025 which comprise the Statement of Financial Artivities, the Statement of Financial Position and notes to the financial statements. including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable.law and United Kingdom Accounting Standards, including Financial Reporting Stsn(Jard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Prartice). In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2025, and of its incoming resource5 and application of resources, induding its income and expenditure, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prartice: and . have been prepared in accordance with the requirements of the Charities Art 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirnents that are relevant to our audit of the financial statements in the UK, induding the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these quIrernents. We believe that the audlt evldence we have obtained is suffiuent and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the twstees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any Material uncertainties relating to events or condition5 that, individually or collectively* may cast significant doubt on the charitable company's ability to continue a5 a going concem for a period of at least twelve months from when the financial statements are authorised for iue. Our responsibilities and the responsibilities of the trustees with respect to going concem a described in the relevant sections of thls report. Other Infoymatlon The other infomation comprises the information included in the trustees. annual report, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the finanoal statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other infonnation is materially inconsistent with the finanaal statements or our knowledge obtained in the course of the audit or otherwise appear5 to be materially misstated. If we identify such material inconsistencie5 or apparent material rnisstatements, we are required to determine whether this gjves rise to a material mi55tatement in the financial statement5 themselves. If, based on the work we have performed, we conclude that the is a material misstatement of this other information, we are required to report that fart. We have nothing to port in this regard.
Xndependent AudStors Report to the Trustees of Worcestershlre Bullding Preservation Trust (Formerly The Worcestershire Building Preservation Trust) (contlnued) Matters on whlch we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulation5 2008 require us to report to you if, in our opinion- • the infomiation given in the trustees. report is inconsistent in any material respett with the financial statements: or sufficient accounting records have not been kept; or • the financial statements are not in agreement with the accounting records,. or • we have not received all the inforniation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees. responsibilities statement on page 7, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for beTrng satisfied that they give a true and fair view, and for such internal control as the trustees detemine is necessary to enable the preparation of financial Statements that are free from material misstatement. whether Oue to fraud or error. In preparing the finanaal statements, the trustees are responsible for assessing the charitable company's abllity to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor responslbilltles for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Att 2011 and report in accordance with the Art and relevant latIOnS made or having effect thereunder. Our objertives are to obtain asonable assurance about whether the financial statements as a whole are free from material mi5Statement. whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance 15 a high level of assurance, but is not a guarantee that an audit condurted in accordance with ISAS (UK) will always detett a material misstatement when it exists. Misststements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financlal statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularitie5. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: In planning and designing our audit tests we identify and a55es5 the risks of material misstatement within the financial statements, vdhether due to fraud or error. Our assessment of these risks indudes consideration of the nature of the industry and sector, the control environment and the charity performance along with the results of our enquiries of management about their own identification and assessment of risks and irregularities. In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the charitable company operates in, focusing on provisions of those law5 and wulatiorbs that had a dirett effett on the determination of material amounts and disclosures in the financial statements. The key law5 and regulations we considered in this context included the UK Companies Art. Charities Art, UK tax legislation and other laws and regulations identified as risk areas identified from our discussions with managefflent. We communicated rdevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or non- compliance with laws and UlationS throughout the audit.
Independent Aud•tors Report to the TNstees of Worcestershire Building Preservation Trust (Formerly The Worcestershire Buildin9 Preservation Trust) (continued) After consideration of the above risks we then carried out audit procedures including the following.. performing analytical procedures to identify any unusual or unexperted relationships that may indicate risks of material misstatement due to fraud; reading minutes of trustees meetings; reviewing correspondence with H M Revenue & Customs; enquiring of management and reviewing any correspondence with legal advlsors concemlng actual antj potential litigation and daims- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulats.ons described as having a dI¢t effect on the financial statements,. in addressing the risk of fraud through management override of controls. testing the appropriateness of journal entries and other adjustments; assessin9 whether the judgements made in making accounting estimates are indicative of a potential bia5- and evaluating the business rationale of any significant trnnsactions that are unusual or outside the normal course of business. There are inherent limitstion5 in our audit procedures descrtbed above. The more removed that the laws and regulations are from finanoal tran5attions the less likely it is that we would be aware on non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with law5 and gUlationS to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arlse from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description for$ part of our auditorfs report. Use of our report This report is made solely to the charitable company's trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken 50 that we might state to the charitable company's trustees those matters we a requi to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body. for our audit work. for this report, or for the opinions we have formed. Oliver Ross Bsc (Hon5) FCA (Senior Statutory Auditor) For and on behalf of Muras Baker lones Limited Chartered Accountants. and Statutory Auditors Regent House Bath Avenue Wolverhampton WVI 4EG Date.. /1 knts-2ozf io
Worcestershire Buildin9 PreseThatlon Trust (Formerly The Worcestershire Building Preservation Trust) statement of flnan¢ial actlvities For the year ended 31 March 2025 2025 2025 Unrestricted Restricted funds ' Funds 2025 Total Funds 2024 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies other trading activitles Investment income 1,260.830 1,260,830 185,165 2,985 2,985 686 2,992 1,260,830 1,263,822 185,851 EXPENDrruRE ON Charitable activities 21,355 1,076.590 1,097.945 201,738 21,355 1,076,590 1.097.945 201,738 NET INCOME/EXPENDITURE (18,363) 184.240 165,877 (15,887) RECONCIUATJON OF FUNDS Total funds brought forward 20,957 2,719 23,676 39,563 Transfers between funds 14 184,240 (184.240) TOTAL FUNDS CARRIED FORWARD 13 186,834 2.719 189,553 23,676 The Statement of Financial Activities indudes all gains and 105ses in the year. All Income and expenditu has arisen from continuing activities. li
Worcestershire Building Preservation Trust (Fornierly The Worcestwshire Buihling Pres•vvat•OD 7nt) statement of finanaal posltlon A$ at 31 March 2025 2025 Totsl Funds 2024 Total Funds Notes CURRENT ASSErs Debtors Cash at bank li 156.016 205,063 8,182 23,690 361.079 31,872 CREDrroRS Amounts falling due withln one Year 13 (171.526) (8,196) NET CIIRRENT ASSErs 189,553 23,676 TOTAL ASSETS LESS CURRENT UABILrrIES 189.553 23.676 NET ASSETS 189,553 23,676 FUNDS Unrestricted funds Restricted 14 14 186,834 2,719 20,957 2,719 TOTAL FUNDS 189.553 23.676 These financial statements were approved by the Board of Trustees on were signed on its behalf by: la L5 and Name: Robin Alan Seuers Position: Trustee Company number: 0837970 12
Worcestershlre Bulldln9 Preservation Trust (Formerly The Worcestershire Building Pr•servatlon Trust) statement of Cash Flows For the year ended 31 Marth 2025 2025 2024 Note Cash flows from operatin9 activ•ties Surplus / (deficit) for the year 165.877 (15,887) Adjustment5 for." Other interest receivable and similar income Accrued (income)/expenses Changes in.. Trade and other debtors Trade and other creditors (2,985) (46.903) (686) loo (11,512) 73.911 183,729 (181,399) Cash generated from operations 178.388 (14.143) Interest recLryved 2,985 686 Net cash from operating activities 181,373 [13,457) Net increasel (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year 181,373 23,690 (13,457) 37.147 12 Cash and cash equivalents at the year end 12 205.063 23,690 13
Worcestershire Building Preservation Trust (Formerly The Worcestershire Building Preservatk•n Trust) Notes to the financlal statements For the year ended 31 March 2025 GENERAL XNFORMATJON The charity is a public benefit entity and a private company limited by guarantee. gistered in England and Wales and a registered tharity in England and Wales. The address of the registered office is WBPT, 8 Pendeford Place, Pendeford Bu5ine55 Park. Wolverhampton, WV9 5HD. STATEMENT OF COMPUANCE These financial statements have been prepared in compliance with FRS 102. The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {Charities SORP (FRS 102)) and the Companies Act 2006. ACCOUNTING POUCIES Basls of preparatlon The financial statements have been ppared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the funrtional currency of the entity. Going eoneern The accounts have been prepared on a going concern basis as there are no material uncertsintie5 about the tharity's ability to continue in operatlon existen for the foreseeable future. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements. estimates and assumptions that affert the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other fartors. including expertations of future events that are belleved to be reasonable under the Circurnstan. Fund accounting Unrestrirted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted fund5 earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure dedared by the donor or through the terrns of an appeal, and fall into one of two sub-dasses: $tritted income funds or endowment funds. Further explanation of the nature and purpose of each fund is induded in the notes to the financial statements. 14
Worcestershire Building Preservation Trust (Formerly The Worcestershire Bullding Preser¥ation Trnst) Notes to the flnancial statements For the year ended 31 March 2025 Incorne All incoming resources are included in the statement of financial artivities when entitlement has passed to the charity; it Is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from d¢)nations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Investment income is included when e1Vable. Exp¢nditur¢ Expenditure is recognised on an accruals basis as a liability 15 incurred. Expenditure include5 any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relate5: expenditure on charitsble ath"vities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable artivities. other expenditure indudes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitsble artivities. AII costs are allocated to expenditure categories reflerting the use of the resource. Direct costs attributable to a single activity are allocated dirertly to that activity. Shared costs are apportioned between the artivities they contribute to on a reasonable, justifiable and consistent basis. Taxation The charity being a registered charity is exempt from taxation in accordance with the provlsions of Income and Corporation Taxes Act 1988. 15
Worcestershire Buildlng Preservation Tn•st (Formerly The WorcestershSre Bulldlng PreseThatlon Trust) Note5 to the financial statements (Continued) For the year ended 31 March 2025 DONATIONS AND LEGACIES Unrestvlcted Restrlcted Funds Funds Total 2025 Total 2024 Grants received from.. National Lottery Heritage Fund Wychavon District Council 765.830 495,000 765,830 495.000 115,165 70,000 1,260,830 1,260,830 185,165 OTHER TRADING ACTivrrKES Unrestrirted Restrirted Funds Funds Total 2025 Total 2024 Ground rents INVESTMENT INCOME Unrestricted Funds Restricted Funds Total 2025 Total 2024 Interest Received 2,985 2.985 686 16
Worcestershire Bullding Preservation Trust {Formerly The Worcestershire Building Preservation Trust) Notes to the finan¢ial statements (Continued) For the year ended 31 March 2025 CHARITABLE AcfiviTIES Unrestricted Funds Restricted Fund$ 2025 2024 Building works Professional fees staff costs Accountancy fees Independent examiners fees Audit fees Bank charges Office costs Printing and advertising Insurance Sundry expen5e5 898,766 150,757 14,698 1,392 898,766 164,444 20,538 1.740 135,921 54,865 6,118 2,071 1,000 13,687 5,840 348 350 115 145 14 329 527 3,150 3,500 115 6,070 14 329 2,429 60 330 56 260 1,057 5.925 1.902 21,355 1,076,590 1,097,945 201,738 NET INCOME/(EXPENDrruRE) 2025 2024 Net income/(expenditure) is stated after charging: Accountsnt's fee5 for audit of the accounts Accountant's fees for independent examination of the accounts 3,500 1.000 9. STAFF COSTS The total staff costs and employee beneftts for the reporting period are analysed as follows.. 2025 2024 Wage5 and salarie5 Employer contributions to pension plans 20,102 436 5,940 178 20.538 6,118 The above staff costs include: a) Restricted costs which late to one staff member who is dedicated to the Willow Court Project, and b) Unrestrirted costs which relate to 6.67% of the costs of three staff rnembers who work on the Capacity Building Projert. which 15 a joint project with West Midlands Historic Building5 Trust and The Q"ty of Wolverhampton Regenerating Buildings Preservation Trust. The payroll is managed by West Midlands Historic Buildings Trust and invoiced as appropriate. 17
Worcestershire Bullding Preservation Trust (Formerly The Woreestershire Bullding Preservatlon Trust) Notes to the financial statements (Continued) For the year ended 31 March 2025 10. TRUSTEES. REMUNERATION AND EXPENSES There were no trustees. remuneration or other benefits for the year ended 31 March 2025. Trustees, expenses No trustee5' expense5 were paid during the year ending 31 March 2025 (2024 - £nil). 11. DEBTORS: AMOUNTS FALLING DUE WMIIN ONE YEAR 2025 2024 Prepayments and accrued income other debtors 136.413 19,603 55 8,127 156,016 8,182 Since April 2021. a total of £1.303.897 of fvnding has been received towards the delivery phase of the Willow Court project in Droits¥ich. There was however a further £172,037 to cover outstanding expenditu$ which had been claimed but vias not received until after the year end. By the eno of this financial year expenditure of £1.265.519 {including £184,240 developers retum to WBPT) had been incurred on delivery activities. As a result. net accrued income of £136,322 has been reserved at 31 March 2025. 12. CASH AND CASH EQUIVALENTS 2025 2024 Cash and cash equivalents comprise the following: Cash at bank and in hand 205,063 23,690 13. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2025 2024 Trade creditors Accrued expenses 81,107 90,419 7,196 1,000 171.S26 8,196 18
Worcestershire Buildong Preservatlon Trust (Formerly The Worcestershire Building Preservation Trnst) Notes to the financial statements (Contlnued) For tho year ended 31 March 2025 14. MOVEMENT IN FUNDS At 31.03.2024 Incomlng Resour¢ Outgolng Resources At 31.03.2025 Transfers Unrestricted funds General fund Restrirted fund$ 20,957 184,240 2.992 (21.355) 186,834 Willow Court Farmhouse project 2.719 (184.240) 1,260.830 (1,076.590) 2.719 TOTAL FUNDS 23.676 1,263.822 (1,097,945) 189,553 Wlllow Court Farmhouse Project Funding was obtained to progress the Willow Court project to the completion of a (ievelopment plan. Fund Transfers The transfer frorn restricted to unrestritted funds relates to Developer's Return approved as income to the Trust, as agreed with the major donors to the Willow Court project. It is based upon 150/0 of relevant expenditures in the Delivery Phase of the project. 15. ANALYSIS OF NET ASSEfs BETWEEN FUNDS Tangible Flxed Net current ' Assets/ (Liabilities) Total 2025 Total 2024 Unrestricted fund5 Restricted funds 186.834 2,719 186.834 2,719 29,957 2.719 TOTAL FUNDS 189,553 189,553 23,676 16. RELATED PARTY DISCLOSURES Professional fees indude £13.149 (2024 - £3,827) paid to IWSA Limited, a company In which a tnjstee, I Wilson, is a dittor. All transaction5 Wlth that company have been on an arms length basis.
Worcestershire Buildlng Preservation Tn (Fornierly The Worcestershire Bulldln9 Preservation Trust) ptes to the.financial statements (Continued) For the year ended 31 March 2025 17. LEGAL STATUS OF TRUST The Worcestershire Building Preservation Trust is a company limited by guarantee. In the event of winding up or dissolution of the company. members. liability under the Memorandum of Association is limited to £1 each. At 31 March 2025 there were 17 Members. 20