NORWICH PRESERVATION TRUST
LIMITED BY GUARANTEE
REGISTERED NUMBER 869736
CHARITY NUMBER 258440
UNAUDITED ANNUAL REPORT
YEAR ENDED 31 MARCH 2024

NORWICH PRESERVATION TRUST
UMITED BY GUARANTEE
ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
CONTENTS:
Page
LEGAL AND ADMINISTRATIVE INFORMATION
TRUSTEES. REPORT
INOEPENDENT EXAMINERS REPORT
STATEMENT OF FINANCIAL ACTIVITIES
BALANCE SHEET
NOTES TO THE FINANCIAL STATEMENTS
9-19
SUPPLEMENTARY NOTES TO THE FINANCIAL STATEMENTS
21>22

NORWICH PRESERVATION TRUST
LIMITED BY GUARANTEE
LEGAL AND ADMINISTRATIVE INFORMATION
DIRECTORS. OFFICERSAND REGISTERED OFFICE
The governing body presents their report together with the financial statements for the year ended 31 March
2024.
The registered charity number is 258440
The company registration number 15 869736
CHAIRMAN
Mr S J Earl MBE
TRUSTEES
Mr S J Earl MBE
Councillor M K A Schmierer Ifrom 19 Sept 20231
MrRGRose
Councillor M L Fulton-mc Alister (from 19 Sept 20231
Councillor J E Lubbock
Mr J S Bremner (resigned 15 Sept 20231
Mrs J E King
Councillor G P Harris Iresigned 28 April 20231
MrRENQuinn
Councillor E G Jones Iresigned 15 Sept 20231
Councillor P R Prinsley (from 19 Sept 20231 (resigned 13 Aug 20241
SECRETARY & TREASURER
Mrs L C A Tarabay Bcom CPFA
REGISTERED OFFICE AND PRINCIPAL ADDRESS
63, Colegate
Norwich
Norfolk
NR33AS
SOLICITORS
Mills & Reeve LLP
I Stjames Court
Whitefriars
Norwich
NR3 IRU
BANKERS
The Co-operative Bank plc
69 London Street
Norwich
Norfolk
NR2 IHT
INDEPENDENTEXAMINER
Giles Kerkham FCA DChA
Larking Gowen LLP
I" Floor, Prospect House
Rouen Road
NO￿lCh
NRI IRE

NORWICH PRESERVATION TRUST
UMITED BY GUARANTEE
REPORT OF THE TRUSTEES
YEAR ENDED 31 MARCH 2024
The Trustees (who are also dirertors of the charity for the purposes of the Companies Act) present their anr¢ual
report together with the financial statements of Norwich Preservation Trust Limited Ithe Company) for the year
ended 31 March 2024. The Trustees confirm that the Annual Report and financial statements of the company
comply with the current statutory requirements, the requirements of the company's governing document and
the provisions of the Statement of Recommended Practice ISORPI, applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applic3ble in the UK and Republic of Ireland IFRS 1021.
Structure, Governance and Management
Governlnz Document
The Company is a charitable company limited by 8uarantee, incorporated on 25 January 1966 and registered as
a charity on 18 April 1969. The company was established under a Memorandum of Association defining the
objects and powers of the charitable company and is governed under its Articles of A550Clation. In the event of
the tompany being wound up members are required to contribute an amount not exceeding £10.00 Iten pounds).
Recruitment and Appointment ofthe Board
The directors of the company are also charity trustees for the purpose5 of charity law. Under the company's
Memorandum and Articles of Association there is a maximum number of eleven of whom four or such lesser
number as the Norwich City Council may prescribe are nominated by the NO￿lCh City Council and three are to
be nominated by the Norwich Society-
Under the requirements of the Memorandum and Articles the members of the Council of Mana8ement retire by
rotation with one-third of the members retiring each year and able to offer themselve5 for re-election at the
Annual General Meeting.
Appointments are made from nominees of the Norwich City Council and the Norwith Soclety. The company is
independent of the two nominating bodies and neither has direct control over the administration of the trust.
Trustee Induction and Training
Those trustees appointed are normally already experienced with the work of charities and in addition bring an
appropriate interest and skill to the Governing Body. The Memorandum and Articles of Association are made
available together with advice on the dual role of member and trustee.
The nature of the Company as a Building PreSe￿atIOn Trust and its operation as a rolling fund Trust is explained
together with a current report on projects in hand and planned with a financial summary and an outline of sources
of funding.
New trustees will be provided with the Charity Commission booklets CC3 and CC3a.

NORWICH PRESERVATION TRUST
LIMITED BY GUARANTEE
REPORT OF THE TRUSTEES Icontinuedl
YEAR ENDED 31 MARCH 2024
Risk Management
The records of the Company are held at the Companvs Registered office and at the home address of the Company
Secretary. The majority are held on computer. and these are continually backed up to a Cloud storage system to
minimise the risk of data loss.
Financial payments are predominantly made by internet banking, with cheques now only rarely used, there are
no cash payments. Payments are only made after authorisation by two of the Trusys authorised signatories.
Risk in undertaking projects is managed in the careful selection of professional teams experienced in historic
building conservation with the client interest being ￿presented by an experienced project organlser.
A comprehensive risk management assessment is regularly reviewed by the Trustees.
Objertives and Activilies
The company's primary object is to preserve forthe benefit of the Cityof Norwich and of the Nation. the historical,
architectural and constructional heritage that mayexist in and around the City of Nonvich (including any structure
or erection, and any part of a building as so defined) of particular beauty or historical. architectural or
constructional interest.
The company achieves its objects by working with the local authorities, statutory bodies, grant and loan giving
agencies to take on, restore. repair and refurbish buildings at risk to bring them back into beneficial use. In this
the Trustees give due regard to the Charity Commissioners guidance on securing public benefit.
On completion of the project the restored buildings are either sold on or let with sale receipts or loans secured
by rental intome forming the revolving fund by which the company maintains its facility to continue its work.
Achievements and Performance
The Trust has undertaken and completed some ljventy restoration projects. the projects have all been buildings
at risk and have involved partnerships with other interests including the Norwich City Council and tommertial
organisations. The projects have returned formerly derelict buildings into residential and commercial use.
60 residential flats and houses have been preserved, including five let on long lease to a social housing landlord.
16 business premises have been preserved as shops and offices and include Edmund Wood House let to the
Ar>ter05 Art5 Centre. Five of the business premises ère retained by the Trust to provide a core rental income to
support the day to day wnning costs of the Trust.
During 2023124 the ground floor commercial unit at 23125 St Augustine's Street was re-let following major
refurbishment as a commercial art gallery. All properties are now in occupation thereby increasirig the rental
income available to support the work of the Trust.
A viability study has been completed with the assistance of grant funding from the Architectural Heritage Fund
on the works needed to bring 6-9 Ninham's Court back into use. The Trust is also in discussion with the Norwich
City Council on possible co-operation on further properties currently in the stewardship of the Council.
Going Concern
The Trustees have reviewed forecasts of income and expenditure for the years following the date of this
report. All commercial rental properties are leased to tenants at market rents. Rental income is sufficient to meet
operating expenses. The Trustees therefore consider it appropriate to prepare the financial statements on the
going concern basis.

NORWICH PRESERVATION TRusr
UMITED BY GUARANTEE
REPORT OF THE TRUSTEES Icontinuedl
YEAR ENDED 31 MARCH 2024
Flnandal Revlew
With the pressure being exerted on Historlc England. The National Lottery Heritage Fund and local authority
resources it has become increasingly difficult to source funding for historic bLtildings other than those classified
as being of exceptional quality. There is some relief in that the Architertural Heritage Fund is offering grants and
short-term loans.
Following the C-19 pandemic, four commercial tenants ended their leases, and this level of empty properties has
impacted on the Trust's reserves with net income from the tenanted properties being insufficient to meet day-
to-day operating expenses. However, this was a short-terrn impact. the Trust has used accumulated cash reserves
to update and renovate the properties. From May 2023 all the Trusvs commercial properties are leased on terms
that reflect current market rents which is significantly higher than previously achieved.
Principal Funding Sources
To date these have included grants from Norwich City Council. Historic England, the Architectural Heritage Fund,
proceeds of sales, loans secured on property and an annual rental income in the order of £91.000.
In 2017 the TrL*St took out a ten-year loan of £150,Crf)O at 4% from the Norwich City Council secured by a floating
charge over the following propertie5:
63 Colegate, Norwich
23-25 5t Augustine's Street, Norwich
2-4 St Andrew's Hill, Norwich
The Briton's Arms, Elm Hill. Norwich
Augustine Steward House, 14. Tombland. Norwich
In October 2020 the Tnjst took out a six-year Government supported Bounce Back Loan from the Co-operative
Bank of £16,175. The loan is interest free for the first 12 months and then at 2.5%.
Investment Polioi
The company can invest moneys not immediately required for its immediate purposes in or upon suth
investment5, securities or property as may be thought fit subject to conditions or consents as may for the time
being be imposed or required by law. The order of moneys held in an interest earning bank deposit account is
currerbtly £78,169.
Reserves Pollcy
The company has reviewed its past requirements and based on that review has adopted a policy to aim to hold
in the order of one quarterfs operating costs, currently around £11.700. as a reSe￿e to cover those periods when
there are no active projects providing income over and above its rental income. Current unrestricted funds are
£885,297 of which £52,817 is regarded as free reseryes after allowing for funds tied up in investment properties.
Free reserves are committed to maintaining the investment properties and towards future property restoration
projects. Restricted funds amount to £7.426.

NORWICH PRESERVATION TRUST
LIMITED BY GUARANTEE
REPORT OF THE TRUSTEES Icontinuedl
YEAR ENDED 31 MARCH 2024
Plans for Future Periods
The future of the Trust as a revolving fund building preseryation trust is always focused on finding funding and
properties in need of repair and refurbishment. Thi5 is expected to be more certain with the likelihood of a
positive outcome to the current discussions whereby the Trust would tske ownership of some Nofwich City
Council properties in need of repair and refurbishment.
Respon5ibillties of the Trustees
The Trustees Iwho are also dirertors of Norwich Preservation Trust Limited for the purposes of company lawl are
responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law
the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair
view of the state of affairs of the charitable company and of the incoming resources and application of resources,
including the income and expenditure, of the charitable company for that period. In preparing these financial
statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently-
obseNe the methods and principles in the Charitie5 SORP-
make judgments and accounting estimates that are reasonable and prudent,.
state whether applicable UK Accounting Stsndard5 have been followed, subject to any materlal
departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the
charitable company's transactions and disdose with reasonable accuracy at any time the financial position of the
charitsble company and enable them to ensure that the financial ststement5 comply with the Companie5 Act
2006. They are also responsible for safeguarding the assets of the tharitable company and hence for takinE
reasonable steps for the prevention and detection of fraud and other iNegularities.
In preparing this report, the Trustees have taken advantage of the small companies exemptions provided bv
Section 415A of the Companies Act 21X)6.
Approved by the trustees/directors on ..!9 2oi.%nd signed on their behalf by..
.ITrusteel

INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ÉNDED 31 MARCH 2024
Independent examinerf5 report to the Trustees of Norwlch Preservatlon Trust Llmlted Ithe'companrfl
I report to the charity trustees on my examination of the accounts of the company for the year ended 31
March 2024 which are set out on pages 7 to 19.
Resp0nslblll￿es and basls of report
As the charity trustees of the company land also its directors for the purposes of company lawl you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies Act
20061'the 2006 ACVI.
Having satisfied myself that the accounts of the company are not required to be avdited under Part 16 of the
2006 Act and are eligible for independent examillation. I report in respect of my examination of your
ompany's accounts as carried out under sertion 145 of the Charities Act 20111'the 2011 Act'l. In carrying
out my examination I have followed the Directions given by the Chafity Commission under section 14515llbl
of the 2011 Act.
Independent examinerf5 Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with
the examination giving me cause to believe:
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act,. or
2. the accounts do not accord with those records,. or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any
requirement that the accounts glve a 'true and fair view which is not a matter considered as part of an
independent examination,. or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice foi accounting and reporting by charities applicable to charities preparing their
account5 in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland
IFRS 1021.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
This report is made solely to the companvs Trustees, as a body, in accordance with Part 4 of the Charities
IAccount5 and Reportsl Regulations 2CKJ8. My work has been undertaken so that I might state to the
company's Trustees those matters l am required to state to them in an Independent examiner's report and
for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to
anyone other than the company and the companvs Trustees as a body, for my work or for this report.
Ic
Giles Kerkham FCA DChA
Larking Gowen LLP
I" Floor, Prospect House
Rouen Road
Norwich
NRI IRE

NORWICH PRESERVATION TRUST
LIMITED BY GUARANTEE
STATEMENT OF FINANCIALACTivmES
(INCLUDING INCOME ANO EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
Notes
Restrlcted Unrestricted
nds
funds
2024
Total
fvnds
2023
Total
funds
Income Irom:
Grants and donations
Investments
750
750
2,000
847
1.408
91,267
1,408
91,267
Rentals
54,997
Total income
750
92,675
93,425
57,844
Expenditure on:
Charitable activities
750
7233S
73.085
97,942
Total expenditure
750
72,335
73,085
97,942
Net incomlng resources before
transfers
20,340
20,340
140.0981
Transfers between funds
Net Incomlng resources before
other Teco8nised galns and losses
20,340
20,340
140,0981
Revaluation surplus on
investment propertv
io
2,800
10,559
Net movement In funds
23,140
23,140
129,5391
Reconciliation of funds
Total fund5 brought forward
Net movement in funds
7.426
861,947
23.140
869,373
23,140
898,912
129,5391
Total funds carried forward
14.15
7,426
885,087
892.513
869,373
The Statement of Financial Activities includes all gains and losses in the year. All incoming resources and
resources expended (lerive from continuing activities.

NORWICH PRESERVATION TRusr
UMITED BY GUARANTEE
BALANCE SHEET AS AT 31 MARCH 2024
COMPANY REGISTRATION NUMBER-869736
2024
2023
Flxed assets
Investment Property
io
832,480
829,680
Current assets
Work in progress
Debtors
Cash at bank and in hand
li
12
63.619
2S,884
86.582
50,499
49,937
88,840
176,085
189.276
Credltors
Amounts falling due within one year
13
67,454
81,578
Net turrent assets I Iliabilitiesl
108,631
107,698
Total assets less Current liabilities
941,111
937,378
Creditors
Amounts falling due after one year
13
48,598
68,005
Net assets
892,513
869,373
Charlty Funds
Restricted fund
Unrestrirted Funds
14
14
7A26
885,087
7.426
861,947
Total funds
892.513
869,373
The company's fin3noal statements have been prepared in accordan￿ with the provisions applicable to companies
subject to the small companies. regime.
The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the
provisions of section 477 of the Companies Act 2(K161"the Art") and members have not required the company to
obtain an audit for the year in question in accordance with section 476 of the Act.
The Trustees acknowledge their responsibilitiesfor complyingwith the requirements of the CompaniesAct 2006 with
respett to accounting records and the p￿paratiOn of financial ststements.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
Stephen J
hn Earl MBE Trustee
Trustee
£.
The notes on page 9 to 19 form part of the financial statements..

NORWICH PRESERVATION Trusr
UMITED BY GUARANTEE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAIICH 2024
ACCOUNTING POLICIES
la)
Basls of accounting
The financial statements have been prepared in accordance wth Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Irelar)d IFRS 1021 (effective I
January 20191 Icharities SORP IFRS 10211, the Financial Reporting St3ndard applicable in the UK and
Republic of Ireland IFRS 1021 and the Companies Act 2C￿6.
Norwich Preservation Trust Limited meets the definition of a public benefit entity under FRS 102.
The financial statements are prepared on the going concem basis. Assets and liabilities are initially
recognised at historical cost or transaction value unless otherwise stated in the relevant accounting
policv.
The financial statements are presented in Sterlin& which is the functional currenry of the company, and
rounded to the nearest pound.
{bl
Going concern
Trustees have reviewed the Trusvs cashflow forecasts for the two years following the date of this report
and in their opinion, there are no uncertainties regarding the Trust's ability to continue as a going
concern. Accordingly. the financial statements have been prepared on a going concern basis.
Company status
The company is a company limited by guarantee. The members of the company are the Trijstees named
on page l. In the event of the company being wound up. the liability in respect of the guarantee is limited
to £10 per member of the company. The registered office is 63 Colegate. No￿lch, Norfolk. NR3 3AS.
Idl
Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the
general objectives of the charity. Unrestricted funds include a revaluation reserve representing
the restaternent of investment properties at market values.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or
through the terms of an appeal.
Investment income, gains and losses are allocated to the appropriate fund.

NORWICH PRESERVATION TRusr
UMITED BY GUARANTEE
NOTES FORMING PART OF THE FINANCIALSTATEMENTS
YEAR ENDED 31 MARCH 2024
{el
Incomlng ￿$oUrceS
All incoming resources are included in the Statement of Financial Activities when the chaflty is entitled to
the income and it is probable that the income will be received and the amount of income receivable can
be measured reliably. The following specific policies are applied to particular cate8ories of income..
Donations are received by way of 8rants. donations and gifts and is included in full in the
Statement of Financial Activities when receivable. When donors specify that donations and
grants given to the charity must be used in future accounting periods, the income is deferred until
those periods.
when donors specify that donations and grants are for particular restricted purposes, which do
not amount to pre-conditions regarding entitlement, this income is included in incoming
resources of restricted funds when receivable.
grants received in respect of properties have been recognised as incoming resources in the
Statement of Financial Activities when the charity earns the right to consideration by its
performance.
investment income is included when receivable.
incoming resources including rental income from charitable artivities are accounted for when
earned.
annual rentals from operating leases are included in incoming resources over the lease terms.
For legacies, entitlement is taken as the earlier of the date on which either.. the Company is aware
that probate has been granted. the estate has been finalised and notification has been made by
the executorlsl to the Trust that a distribution will be made, or when a distribution is received
from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the
amount can be measured reliably and the comp3ny h3s been notified of the executorfs intention
to make a distribution. Where legacies have been notified to the company, or the company is
aware of the granting of probate, and the triteria for intome recognition have not been met, then
the legacy is treated as a contingent asset and disclosed if material.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT
which cannot be fully recovered, and is reported as part of the expenditure to which it relates..
costs of generating funds comprise the costs associated with attracting voluntary income.
charitable expenditvre comprisesthose costs incurred by the charity in the delivery of its activities
and services for its beneficiaries. It includes both costs that can be allocated directly to such
activities and those costs of an indirect nature necessary to SUPPOrt them;
governance costs include those costs associated with meeting the constitutional and statutory
requiremerbts of the charity and include the audit fees and costs linked to the strategic
management ofthe charity-
all costs are allocated between the expenditure categories of the Statement of Financial Activities
on a basis designed to reflert the use of the resource. Costs relating to a particular activity are
allocated directly. others are apportioned on an appropriate basis for instance by estimated usage
as set out in note 5.
10

NORWICH PRESERVATION TRUST
UMITED BY GUARANTEE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
(g)
Investment Property
Properties acquired or held for rental purposes are capitalised as investment properties. Investment
propertie5 are initially capitalised at their purchase cost, together with any incidental costs of acqui51tion.
They are then revalued with sufficient regularity to ensure the carrying amount does not differ m3terially
from that which would be determined usin8 fair walue at the balance sheet date. Properties acquired or
held for immediate resale are classified as work in progress.
Fair values are determined by a professional qualified su￿eYOr from market-based evidence.
The Companies Act requires that properties arè depreciated. This requirement is not complied with, as
the properties are held for investment purposes and the Trustees consider that systematic annual
depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the
accounts to give a true and fair view.
Work in progress
Exper)diture incurred on properties which the company does not intend to hold following completion of
preservation work. and expenditure on preseNation schemes in progress, is treated as a current asset
and classified as work in proEress.
Work in progress is stated at the lower of cost and net realisable value. Cost includes interest on funds
specifically taken out to finance preservation schemes. Where necessary, provision is made against any
anticipated future losses arising on the completion of preservation work in progress.
Grants recelved in respect of the properties within work in progress are recognised withln the Statement
of Financial Activities.
Where a lon8 lease on a property is granted to the charity. this is included within work in progress at the
estimated value of the lease.
Stock
Stock is stated at the lower of cost and net realisable value.
u)
Interest capitalised
Interest incurred on borrowings to finance specific project development is capitalised net of any tax relief.
Debtors
Trade ar)d other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at hand and in bank
Cash at bank and in hand includes cash and short temi highly liquid investments with a short maturity
of three months or less from the date of aequisition or opening of the deposit or similar account.

NORWICH PRESERVATION TRusr
UMITED BY GUARANTEE
NOTE5 FORMING PART OF THE FINANCIAL STATEMENTS Icontinuedl
YEAR ENDED 31 MARCH 2024
Uabllltles and provlslons
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a post event.
it is probable that a transfer of economic benefit will be required in settlement, and the amount of the
settlement can be estimated reliably. Liabilities are reto8nised at the amount the company anticipates it
will pay to settle the debt or the amount it has received as advance payment for the goods or service5 It
must provide.
Financial instruments
The compèny only has financial instwments and financial liabilities of a kind that qualify as b35ic financial
instruments. Basic financial instruments are initially recognised at transaction value and sub5equentlv
measured at their settlement value with the exception of bank loans which are subsequently measured
at amortised cost using the effectNe interest method.
{0}
Operatlng leases
Rental income and expenditure under operating leases are bought into the Statement of financial
activities incorporating income and expenditure account on a straight-line basis over the lease term.
Income from donations and legacles
Restricted
Funds
2024
Unrestricted
Funds
2024
Total
Funds
2024
Total
Funds
2023
Grants & donations
750
750
2,000
Total donations and legacies
750
750
2,000
Total 2023
Income from charitsble actfvltles
Restrlrted
Funds
2024
Unrestrirted
Funds
2024
Total
Funds
2024
Total
Funds
2023
Rentsl income
91,267
91.267
54,997
Total income from charitable activities
91.267
91,267
54,997
Total 2023
54.997
54,997
12-

NORWICH PRESERVATION TRUST
UMITED BY GUARANTEE
NOTES FORMING PART OF TrIE FINANCIAL STATEMENTS Icorttinuedl
YEAR ENDED 31 MARCH 2024
Investment Income
Restrlcted
Funds
2024
Unrestrlcted
Funds
2024
Total
Funds
2024
Total
Funds
2023
Interest on bank deposits
IA08
1,408
Total Investment Income
1,408
847
Tot312023
Analysis of expenditure
Basis of
Rentsl
Allocation Income Property
2024 Rental
Total income Property
Govern-
2023
Total
ance
nte
Costs directly allocated
to activities
Loan interest
Direct
1,194
1.194 1,886
1,886
Property malntenance
Management & letting
fees
Retainers & employee
costs
Preparation of accoijnts
& Independent
Examinerfs fees
Direct
12,220
12,220 28,681
28,681
Direct
13.906
13.906 24,091
24,091
Usage
22809
15,705 38,114 27,149
9,171 36,320
Direct
5,471 5,471
4,263 4,263
Support costs allocated
to activities
General office costs
Usage
2.180 2,180
2,701 2,701
Total resour￿$
expended
49,729
23.356 73,085 81,807
16,135 97,942
Unrestricted funds expended were £72,125 in 2024 and £95.942 in 2023.

NORWICH PRESERVATION TRusr
UMITED BY GUARANTEE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS Icontinuedl
YEAR ENDED 31 MARCH 2024
Analysis of expenditure on charitsble artI￿leS
Summary byfund type
Restrlcted Unrestrirted
Funds
Funds
2024
2024
Total
Funds
2024
Total
Funds
2023
Rental income
Governance
Propertv
750
48,979
23.356
49,729
23,356
81,807
16,135
Total expenditure on charitsble acli¥ities
750
72,335
73,085
97,942
Total 2023
95,942
97,942
Trustee remuneration
The trustees were not paid or reimbursed for expenses during the year.
During the year the company had 2 employees {2022: 11.
Staff Costs
Staff costs are as follows
2024
2023
Wages and salaries
Social security costs
Pension costs
24,686
27055
547
Total staff costs
25,233
28,501
No employee received remuneration greater than £60.tMX) in either year.
Independent Examinerfs remuTreration
The Independent Examinerfs remuneration amounts to £3,44112023- £2.4861.
Taxation
No provision is made for taxation as the company is a charity entitled to the various exemptions
afforded by the Corporation Tax Art 2010.
14-

NORWICH PRESERVATION TRUST
UMITED BY GUARANTEE
NOTES FORMING PART OF THE FINANCIAL5TATEMENTS Iconlinuedl
YEAR ENDED 31 MARCH 2024
io
Investment property
Long leasehold land
and bulldlngs
Freehold land
and buildings
Total
At valuation as at 31 March 2023
Correction to opening valuation
Additions in year
Revaluation
731,571
{83.071)
98,109
83.071
829,680
{1,2001
2,800
Total at 31 March 2024
652,500
179,980
832.480
The properties are all investment properties and are held for dirett tharitsble purposes.
The properties were independentfy rvlalued by an Arnolds K￿5 LLP as at 31 March 2024 based on
estimated open market values.
The valuation on 31 March 2023 was incorrectly reported and is correrted.
On the historical cost basis the investment properties would have been induded at a cost of £1,115,955
12022 £1,115,955).
li
Work In progress
2024
Work in progress l April 2023
50,499
Expenditure in year
26-30 Elm Hill projert
Ninham's Court projett
Wrighys Court project
1,159
9,447
2,514
Work in progress at 31 March 2024
63,619
12
Debtors
2024
2023
Trade debtors
Prepayments
Other debtors
6260
ICK)
19,524
2,570
2,981
44.386
49,937
15

NORWICH PRESERVATION TRusr
UMITED BY GUARANTEE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS Icontinwedl
YEAR ENDED 31 MARCH 2024
13
Credltors
2024
2023
lal amounts falling due within one year
Trade creditors
Short temi loans Inote 131bll
Accruals and deferred income
Value Added Tax
Other creditors
10.022
19.408
12.919
1,610
23A95
36.654
18,690
4,512
2.997
18,725
67,454
81,578
Ibl short term loans are made up as follows..
2% Bounce Back Loan (Co-operative Bank)
4% loan from Norwich City Council
3.267
16,141
3,186
15,504
19,408
18,690
Icl amounts falling due after mre than one year
2% Bounce Back Loan (Co-operative Bank)
4% loan from Norwich City CoLbncil
5.342
43,256
8,609
59,396
48,598
68,005
Included within credttor5 above are amounts repayable by
instalments falling due as follows,.
Between one and two years
Between two and five year5
After more than five years
20,145
28,453
19,407
45,598
48.598
68.(J)5
The Norwich City Council loans are secured with a chaTge over five properties. 63 Colegate, 23-25 St Augustine's
Street, 2-4 St Andrews Hill, The Briton's Arms. Elm Hill and ALtgustine Steward House. Tombland.
The Co-operative Bank Bounce Back Loan is unsecured.
16-

NORWICH PRESERVATION TRUST
UMITED BY GUARANTEE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS Icontloluedl
YEAR ENDED 31 MARCH 2024
14 Statement of funds- current year
Restrlcted funds
At l April
2023
Income
Expend- Transfers
iture between
funds
At31
Marth
2024
¥aluation
Donations
Grants
1750)
636
6,7
6.7
7,426
750
17501
7.426
Unrestricted fvnds
861,947
91675
(72.3351
885,087
Total funds
869,373
93.425
172335)
892.513
Statement of funds- prior year
Restricted funds
At l April
2022
Income
Expend. Transfers
Re-
Iture
between valuation
funds
At31
March
2023
Donations
Grants
636
{2.lJ)O}
636
6,790
7A26
12JMII
7,426
Unrestrlcted funds
891.486
55,844
{95￿2)
10,559
861,947
Total funds
898.912
57,844
(97.942}
10,559
869,373
Donation5
Donations were received from the Paul Bassham Trust in 2024 towards commissioning the historic
building report for 1-3 Wrighys Court. The Paul Bassham Trust contributed towards the cost of repairs
at 23125 St Augustine's Street in 2023. Past donations were received from Norwich Town Close Estate
Charity and the Paul Bassham Charitable Trust to cover the costs of publishing the Trusvs book"Giving
the Past a Future"
Grants
Grants were received in 2023 from the Architectural Heritage Fund for the project viability study
undertaken at 6-9 Ninham's Court.

NORWICH PRESERVATION TRUST
UMITED BY GUARANTEE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS Icontlnuedl
YEAR ENDED 31 MARCH 2024
15
Analysls of net assets between funds- current year
Unrestricted
Fund5
2024
Fund
2024
Total
2024
Fixed assets
Work in progress
Debtors
Cash at bank and in hand
Creditors
832.480
56,829
25.884
85.946
1116,052)
832,480
63.619
25.884
86,582
1116,0521
7.426
885,087
892,513
Analysis of net assets between funds- prior year
Unrestrlcted
Funds
2023
Fund
2023
Total
2023
Fixed assets
Work in progress
Debtors
Cash at bank and in hand
Creditors
829,680
43.709
49,937
88,204
{149.5831
829,680
50,499
49,937
88,840
1138,0931
7,426
861,947
869.373
16
Relatsd party transacilons
2024
2023
Notwlch Clty Coundl
Transactions during the year..
Loan principal repayments
Interest payable
Rents payable
15.504
2,773
14,906
3,371
5,450
Creditor balances at the year end:
Outstanding loans
Rents payable
59.396
5,478
74,900
2,874
Contracted payments under long term lease
arrangements:
528,846
527,524
The payments under the long term lease arrangernents are an estimate of future rents until 2044 Ifor
some propertiesl based on the current annual rent.
The Council is represented by Councillors as members of the Board of Trustees. Other transactions
related to business transactions that would nomially occur between a local authority and a business
entity.
18-

NORWICH PRESERVATION TRUST
LIMITED BY GUARANTEE
NOTfS FORMING PART QF THE FINANCIAL STATEMENTS Icontinuedl
YEAR ENDED 31 MARCH 2024
17
Contlngent Asset
Since the year end, the charity has received settlement from a former tenant for a property previously
vacated amounting to £20,c￿0. This is not intluded ion income for the year as it was still in negotiation
at the year end and therefore Un￿rtaIn.
Operatln8 lease Income mngements
The company earns rental income by leasing Its properties to tenants under non-cancell3ble operating
leases.
At 31 March 2024 the company had contracted with tenants to r￿1ve the future minimum lease
payments..
2024
2023
Within one year
74,616
74,301
Between one and five years
114.706
163,019
More than five years
462￿9
460,155
652211
697.475
19
Operatlng lease expendityre arrangements
At 31 March 2024 the company had contracted landlords to pay the fLSture minimum lease
payments:
2024
2023
Within one year
6,782
5,450
Between one and five years
29,843
27,341
More than five years
492.221
494,733
528,846
527.524
19

NORWICH PRESERVATION TRUST
LIMITED 8Y GUARANTEE
SUPPiEMEPUARY NOTE TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
l. Income and Expendlture Account for the year ended 31 Mar¢h 2024
2024
2023
Rental Income
Rack rentals
Queen Anne Yard
23125 St Augustines Street
24 St Andrews Hill
Augustine Steward House
Briton's Arms
Ground Rentals
Lease Extensions
195
7,966
9.OtK)
14,601
22.5(M)
2,301
6,400
49.500
22,500
2.301
91267
54,997
Property Expendlture
Rents payable
Repairs and maintenance
Utility services
External management and legal fees
Property insurances
5,450
16,335
4.656
24,091
2.240
4,001
1.023
13,906
1.392
126,1261
152.7721
Net Rental Income
65.141
2,225
Grants & Donations
Interest recelvable
750
2,0(XJ
Total Income
67,299
5.072
Overhead expenditure
Office running costs
Ret3iners and employment costs
General expenses
Annual accounts preparation & examination
General loan interest
Other professional fees
1.852
38,114
328
3,441
1,194
2,030
36,320
643
2,464
1,886
2,213
Total overhead eKpenditure
146,9591
145,1701
20.340
140.0981
Unrealised profit on property revaluation
10.559
Proflt for the flnancial year
23.140
129,5391
This page is not subject to the Independent Examinerfs report
-20-

NORVIICH PRESERVATION TRUST LIMITED BY GUARANTEE
SUPPLEMENTARY NOTE TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
2 Analysls ol tanglble flxed assets and work In progre$5
Value at Addition5
l April
2023
ImpaSr- Dlsposals
ment
Revalu-
Value at
ation 31 March
2024
Flxed assets
Edmund Wood House
Muspole Street
Queen Anne Yard
57 St Augustines Street &
1-4 Stonemasons Court
23125 St Augustines Steet &
1-3 Barnes Yard
Dixon's Court
2-4 St Andrews Hill
31-37 Church Lane, Eaton
Augustlne Steward House
1371143 Magdalen Street
Briton's Arms
16 Elm Hill
Gybson's Conduit
3,900
7,650
27,000
7.900
{1,3501
27,0(M)
9.780
11,8801
120,000
9.650
129,650
{7501
4,250
loo,000
3,41)0
490,000
6.600
57,000
850
15,7201
loo,000
4,000
480,000
8.000
67.500
I,￿0
15.5(Kll
161)0)
10.000
11,4001
110,5001
11501
{2201
Total fixed assets
829,680
832,480
Work In progress
26-30 Elm Hill
9 Ninham's Court
1-3 Wright's Court
28.379
22,120
1.159
9,447
2,514
29,538
31,567
2,514
Total work In pYogTess
$0,499
13,120
63,619
Total assets
880,179
13.120
2.800
896,099
This page is not subject to the Independent Examlnerfs report
21

NORWICH PRESERVATION TRUST UMITED BY GUARANTEE
SUPPLEMENTARY NOTE TO THE FINANaAL STATEMENTS
YEAR ENDED 31 MARCH 2024
3 Analysls ot expendlture on 26-30 Elm Hill Prolect
Value at Movement
l Aprll
in year
2023
Value at
31 March
2024
Expendlture
Cost of building and building works
Professional fees and expenses
Other costs including planning and building regulation fees
NPT overheads and interest allocated
18,232
757
9.390
18,232
757
10,549
1.159
Total work In progress
28,379
1.159
29,538
4 Analysls of expenditure on &9 Ninham's Court Proiert
Value at Movement
l April
in year
2023
Value at
31 March
2024
Expenditure
Cost of building and building works
Professional fees and expenses
Other costs including planning and building regulation fees
NPT overheads and interest allocated
11330
566
10,224
12,976
611
17,980
45
7.756
Total work In progress
22,120
9,447
31.567
Hlstorlc building grants and donations
16,7901
{6.7901
5 Analysis of expendlture on 1-3 Wrlghvs Court Projert
Value at Movement
l Aprll
in ye?r
2023
Value at
31 March
2024
Expenditure
Cost of building and building works
Professional fees and expenses
Other costs including planning and building regulation fees
NPT overheads and interest allocated
750
15
1,749
750
15
1,749
Total work In progress
2,514
2,514
Historic building grants and donations
17501
{7501
This page Is not subject to the Independent Examinerfs report
-22-