REGISTERED CCthIPANY NUMBER.. 01312292 {England and Wales) REGISTERED CHARITY NUMBER.. 273695 REPORT OFThE TRUSTEES PWD UNAUDITED FImAN¢ STATEMENTS FOR THE YEAR ENOED 31 MARCH 2025 FOR sPALFIELDs HISTOWC BUILOWGS TRi *AENU93QH" 2011¥2025 COMPANIES HOUSE
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SPITALFIELDS HISTORIC BUILDINGS TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S Ch8hlat4e cmpany Report Ollhe TN4ees 2to7 Rport of Ihg Indgrn¢8nt Exwminer Slatement rf Fin•nuol Acli%Yie5 Blar8 Sbeel 10 Statem8rt of Cash Fl Ncles to fv Fin*•l Ststwnenls 12to21
SPITALFIELDS HisfoRIC BLILDINGS TRUST CHARITABLE COMPANY INFORIIATION FOR THE YEAR ÉNDED 31 IAARCH 2025 18 Fdga¢e Streat London E1 6BX REGISTERED CHARITY NUIIBER 27369S COMPANY NUM8ER 013122¥2 IEThJlwd and Wa51 The directors ofthe Chari11e comparry {ldty1 its Iwusle•5ftyIww trfthary l•f. The tru8t808 and oifKr¥ ser¥ir¥J thm.ng the >wr. and tothe yearerJ 7*W• 85 1$.. RJ BU11 DG ACruKksharth Ekstoen AP Forshaw M Gledhill GCD Harrfs MLAJoTdan MT K¥nnedy BR Litlle TJM Lornas RNH Munday J M Niedson HC Palin RAJ PdL8rd R88yd jS1 S)24 Resy%d 2025 PATRONS DE 81ain EFHMcKay C R¢u9hkn ADMINISTrATORS MS Humphrey BANKERS Bardays Bank Hc 1 Churthiu Pla¢• Londc E14 SHP INDEPENDEPéT EXAIIINER Hannah Onnslon CIPFAACA UHY Ross Brooke ste I Windru5h Cwrt ngdoM Bosiness Pa AtxnyJ¢)n OX14 1SY
SPITALFIELDS BUIU>WIGS TRUST FOR THE YEAR EMDED 31 MAA¢•I 2025 The Trustees psent Iheir rw and Ihe unKlited Strtemenls for the year ended 31 M¥th 2025. Relerentè and athrfjnistrative infmii¢yi set out t) page 2 10Th$ part of lh6 reyt The financol stata))ent$ comply wth eurrent statultry reqthrements. Ihe memorandum of and th.des of assouab"L•) eA)d the Statement of Recommended Practicè- Aceounting and Rtpjiting by Charities ISORP 20191. Obj8eti¥•$ and adi¥ltbo8 Tru was incorpjrated for the purpose of we8ewving Ihe arthteclur31 heritage of Ihe area in Ihe London Borcugh of Tower Hamlels kTr%4n as Sytalfidds. or d5ewherè. ty acquiring and repaimg bJildings and helpirrfJ and enc¢yJraging Othe to do so. The objects of the Trus¢ are.. to weserve forihe beO11h6 peo[ L(Thj¢ ofTwer Harnlets ofthe nabon at iqrge, whatever of the Eng$h and Welsh listcita. alth1tectur and Constnjct¥)n heiitsge may exist in and aroun¢J the distn.cl of Spitalfie5 or dstwhefy in the fomi ol bjildings ol paiticuLar beauty or hL8torical. architectural w ConstrtrOnal interest. and to Pfunot8 the educatkin oflhe peOe ofthÈ London Bomugh ofTLwHamlet5 ol the nation ai krge ¢)ft themes relabng tg social cultural and architectural hisiory aTrJ to diver5ty. 1mrnlgt1cfi and ethnK and cultural identity. both his1or1 and wesent. inthdiry throu01 the opera11 rnaintenarKe of rnuseuffts and other educational institutions in and around Ihe disln'cl of Spilalfidds or elsevhre. The Truslees confiTh that ihey referred lo the cAtsn8d in Ih& Chwity general gLdanc8 on wblic benefrt rthfi•wr¥J th• ¢hantys and obithes and in ftrture a(Mti. Obl¢¢ll¥•s for th• y•af In 2024.25 ts Tnjsl's key obiecfves to." conb.nue lo expand VenUe generatioi al Dennk8 Sews H¢xtse, Ihe eff¢Y of its oper8lton. Complete ano sell the tso In CaerwenL Undertake assessments and repair5 to the knlyshcy's P¢e at Chamg and prepare a maslerF4an for the Site. Cornplete on the l•ase of 19 Prinulel Street and beg"n assessment aThJ plannin9 and openin9. Submit an awlication lor a Resilience Grant frrm the Nab"onal Hw)ts9e Lottery FunLI to support earfy stsges of 19 Princelet str•8t and ChariNJ goYwnce ènhartement. Continue acti¥ili8s in rnainlaining put4ic aWare5S ol tr13$ in nè•d of sdvaticffj in Ihe ligm of tho throat pos•d to the luture ofthe SPitas afea in gene, and Bwick Lane in parficular. Contynue lo adwsg on Ihe preservation and restoration ClwcvertS in dan&r of tAration or demolibon. ACh1e¥emeb and perfornMnc• nnls SevgTr' Hw$?118 Folgat• Str•el L¢>ndonl This fine 181h cenlury house was mished and opened by the late Denn Sevw5 and left to the TnBI in hi5 wll. In Ihis nanual year. under 8 neY apwnted Director. the fo¢w5 has been cffl.. improwng the efficiency of operalions and the staffing nM)del to lake into lo coe18b safety requirements,. and. gengraliry addiltonal inoxng through new initiatives and offets. fvnthisro acbth and expans ofthe m1Y5e and lne shop. These adNtbe$ have been su$11 and inc(h tAas up on the year, and new offers have been W11 received. redesigwd websit• h8s cOntrirted to thks by mthrKJ tthkngs erd to ueaw an cffjline dLmatlons page. C#•nvent Prnj•¢( Monmoulhshir• p8ir of houses at Carewènt- P4Tha Magna- TAwe cffjt•d aThl sold n this 1. Irrtarost kn th8 ttrJJ68s was high. and sympathetic buyers re ftyJnd 4. Thts comFknd thts latèst ofth8 Trust's proj•cts, rastoring baek into OccupaOn a derelict grade11 hStt at I cantre the village that had a INJikling at risk for many years. Archbishop'$ Po1•¢¢, Ch•ring. K•nt In the year. the project at Charing folkn4d fwr slrands.. Marketing". the &te was placd on the rnarket to find 8 syrroathetic purthaw. in pursuit ol the Trust's preferred objective forthe site- its restcrfabon as a $Wle ar entity. 2. Mast•rplannrng.' with suFs¥Jl from Plcdemy D•an Arthrte and IrvJham Pir*)oth Assooat85, w• hav• d•v•loped wrth planning slAk8hotder5 the oulline of a MaSteW forreskning Ihe site Sym1heticalty to use¥. in Ihe event that a single purchaw canTrot b8 Ind. 8am repair. with the supwt ofA wbstarfial fftt from Hi$ltyK Eand. a WDfessional lewn lea by Thorn Fwd & Partners uThJertc¢)k a thryough wrThnaticffl of thg great hall I latsr bam. developed o Costed 8thedu of
YrALFIELDS BUILDIIIGSTRUST FOR THE YEAR ENDED 31 IAARCH 2 repaits and oversaw initial repar aThJ sta"lL$alKjn w(xks. The are th¢ first wths of ryr lo the 5chedu18d fflonum8FIt in many decade5 aTrJ secure it forthe Immedle fulure. penoing cornplebon of acknwtses l 12 abovg. The works were recor(led by th8 Canterry Archaedogy TMSL adding kn understanth"¢YJ of site and stnjcture. 4. Local ctynmuThty enga9wnent 19 PrInC•t Str••t. London A house of 1716 wlh a synagogue added fivm 1870 Tthin I0r rear T¢$ and txjlt to the 98rden. In Ihis y8ar, the Trust coleted the proco55 of rep$990n and of the buildin9. ¥thith it acwired in 1980 and leased to another TN8t. Following this, a¢tivity in the year concentrated on inal in5pectitin wofessK)ns, exOring a VISI for the fvtUTe of Ihe bJdin9 and applying for Historic England grant èssk%tan¢e l¢ inrtial PaIrth81 will enknle ealy public actess pgndirwj full repair plecL Campalgnln4 •ngag•m•nt and other èdl4111es The Tnjst's major focus has been the firtu de¥eJOwnl of the Biick Lane arBa. Tlws folrrws th8 sprJ of City4ty office develowents •85fvArds from Bishopsgate. wl¥¢h is Changing Ihe phyg"c81 form of the area and woritisThJ conwnefaal retum on inv•stmtni ovtrthè needs ofthe ixal comnNJnity. The Tntsl is noi agwnsl dlopffl9nI per $9 but believas it should be r8fl8cI n88d5 of communty and th• ctAfacter olthe area. The TrusY$ involvement in ¢hg Save BriL Lano ¢ampaKJn cOnb"n thwughout the year indudiro a success1 exhibition staged at differenl localtcrs in East Landl. Thi5 lustratÈd in detsil h¢y4V the srte Uld be devekJp&Y to provide hou8ing. especially Social housing. TIYS 3Fvoath ntrw fom% part of the th)wing LBTH new LLXJ Flan. on which lh¢ Tw$t has consulied exiensi¥dy. The Supreme Court dKI not fiTrJ in the Trusfs favour in relatiC to the WoDd5e8r St d•velopnwrt- i¥Ji th• case was w•1 argued and lound espread supwrt amongst residents CnrnUnty ¢xganisaiiMs. The Trust CMUeS lo pro&ide advice lo 1 reslents olhefs rard to hisbyie bJildirwJ conservab"u) ar•a planniThJ issues. The Trust has regJnd com))entkng 1)n otWic8thons w¥1 bagLbn to deveknp doser interadh)n ith LBTH Cons•Nation department. We ccfitinue lo look at a wde range olother r¥oles. l>JratAce cort"nue6 lo be soughl by ¢)wnern $9gking viab18 firture forbuildings at iisk toih in East LoThJc•) and elsewttere. Rgs1ll Grant and go¥•rnanc• The Twst wa$ SussIU1 in applwng for a ResifiewKe Fund grant from the Nalionaf Lottery Heritsge Fund. Tffi"$ grant has Ihree purpos9$ Ihat con16 into Ihe financ1 sEar 2926". Governance review. ex1ema rewew of Ih• gov•man¢e of Ihe ¢1ority, and iry+lemertatiw of recommendalions for prwrwJ resdience and prordures. 19 Pn"ncelet StreeL inibl business mod¢l and repaiF5 to 8nat4e oarty opBning. 3. Al1$hop.$ Pala(. Charin9.' eoent ofc05ted rnastran and SUFPOrtto srte management. Flnanclal Revl•w The finAncial adi¥ities are set in the St8tw&rt of Finant?al ktmbes trwher %wth the relevant at£ompanying not•s. The nètd8crè85t in funds 01£391.96412024." in(Trase of£2S1.3541is deduded fromthe &xisting fvnd5 oft915.36312024: £664.0091. vknith re5ult#d in total fvnds tsf£523.399 {2024: £91S.8491 at 31 March 2025. The Trust fvnds ils activitses frryn Ihe sales of renoval8d awwj grnnts. together ¥Ath ¢ntrm fges to D8nniB Severs Hobjse and sales d bwks Wbd other mwdwdis¢. MartKOt vatuè ot land and building$ The TnBt consider5 that Ihe market valuè of its18nd 8nd t•Athngs exceeds thg vak. R•s•r¥es Pollcy It is the policy ofthe Tnt lo rnaintain unrlJed frèè funds at a èquates tr> at least months, Unre$tried oxpendibJr• lapwoximataly £50,000). whle *so pww"rfing gjffiient fvnds to C4Jmplete th(tse buflding and fUrbi$hrnenl projecls io which IhÈ TnJst i% ttffjmrtted. Ur¥estricted thjnds were maintsined at througlKJut the peri¢xl and at 30 Marth 2025 unrestrided fvnds wv¢ rnad¥ ofa ijesbgnatsd ld of £378,771 and gerwl r•s•Nes of £50,000.
SPITALFIELDS 8UILDINGS TRiIST FOR YE ENDED 31 MlCH 2025 R•slri¢t•d R•s•m$ Restrided fLtnds tomwse grts lor speofK No restncled balances have been received or utilised on PTojects during the p8riLJ. De51gnatsd Fund$ A designated fiJnd,the proF4 rnnovaticnreseNe. has estailished bythe Trusl. t¥th repTe5enis unrèstricted funds earmarft8d for speofic fijture renovation prts. kn amwnl of £gJO.OC#) wa5 uiginalty d85igna18d for this purwse and th8 balance at 31 March 2025 was £262,47712024= £484.4281. A further dg8ignat8d fvrKI 19 Princolgt Slre¢t has a of £116294 at 31 March 2025 {2024: £169.450) Prln¢lpal Rlsks •nd Un¢•rtaln¢l•s The Trvst is rxJnduc•ng a re¥ivw of ts rnaior str8tegi¢. wonal and Iw3wie88 risks tQTthi¢h ts rhrity is gXFwed and sys¢erns a being eslablisheil to Th¢nage IIKse ks. Fundralskn9 The ¢harity does not activelyseek dtyiatior& from the 9eneral pu¢. but Occasi 11 re¢eive ynexFected lunds in the fomi ol legaues. At Dennis Severs House. ldIals1n9 is undert&en forspe¢ neets. events and exhi"boT. Obj•¢tiw•s tor 2025.26 O•nnls S•v•rs Hous0118 Folgat• Str•8( London) In 25126, Ihe objediyfr 1$ to build the progress and frnd¥110ns of the last years. under the new Otrector. eontinue to grow rtveThJe thrnjgh evckn"ThJ Fwogrnmme of offws. elwts exh"tAttyis, rthi relaH producis and fundraising 8Ui¥e$. FollowNJ lh• F[ of repair and tt•)$8Thicffj th1ertak•n in tho last fow years, no majLV works to the building ore ann8d lh8 nextffinanaal yw. Ar¢hblsh•p's Pala¢• at ChaAng. K•nt In 25126, th• TNst intends to advance the FXDiect to restsJe this m•di¥a palati conww whrch is one of HistNic England's highest prionty at risk srtes. The Tnjst 11 fdlow an agreed tsw"n trac strate9y'. Continue to rnathet the site in orderto fnd a 5ympathelic parlner or pur¢ha$er to restor• th• $it• as $iNJl• home and outbuildings. 2. D8V81op 8 maslean IoTthe conseNalion arKI restoraihjn of th• 5iiè in lh• absèncè trfè&ngbfubJre ther1 restorer. This strand be supputed by the ResilN8nce Fund granl and %bill b•n&frt fr¢m ext•n$iv• PT¢)ftssional assistance frn arthitecls, enginoers, bLMiness planners and c05t con5uhants. These activities be Overs by a ne ynted woied rn•3er. She also man898 sile and Ils0 th8 I1 ¢omrnunity. 19 Prfn¢del Str•rt LMd•)n The Trusl has five obJ'e¢bve$ for year. n pUUl1 of ts wm ol openir4 this Tnable lId lo the publi¢ and fvlf Iling Ihe longtheltl intents.on th81 rt Shwld serve Ihe ¢rnTrnIty and tdl Ihe la of rnigraticfi and culture in Spitaifields durin9 last 350 years.. Develop a bv"ness plan for ts futurn vrilh th• swwl of ReglierKe FuThl asslslance. Undertake slnjctural aTh1 ar¢hrtedurnl surveys lo un¢Jersland the cldIti"0n of the bulding in detail. 3. Cary oul 1181 repair wths. d¢ctii¢J ffispediS and fire safety assess to gnablg safe public a¢w. 4. Begin the pr$$ of )nser¥ aNI 109 tre coledws aThJ (Xtents of the buildings. with the supwt of ¢Jonations and grants 5. Continue furyjraising and wt&. The Trust's tentson is that thes8 aclvths t•AI 8nablg put1 arxss. linitsd fonn, from 2028. Camp•igninq. 8n9ag8m•rt #nd otheracti¥ili8s The Trust *ill coniMu8 its involvement the Save Brk Lane campaign working d05ely with 0lh8r 0ryan¢58tic, conservalion grpS aThJ hJc81 people. It is antripated that thts may rrmjve to a Put4ic Inquiry h81d by the Planning ICtorate. The Tnjst wll conb.nue to Prow advKe to Icul re>d&)ts ollws ward to hisloric txthlong cfyiseryation and planning issues.
SHTALFieLDS BUILDINGSTRUST FOR THE YEAR EIIOED 31 MARCH 2025 The Trusl will conb.nue to comment on local planning aFWiCab.ffj and seekcloser inleraction vAth LBTH Con$erva¢ion, as caty pem)its. under th• aegk% ofthè caff0a1 Commthe. Governan¢e and $tr•tegy During 25126 the Trusl intends lo (t¥npl a govemanL re¥7 exlemal profesonal supwt. I8 by th ReIlence Fund gran{ 8nd implement any menda110rts in orderto impwng reglienr and procedures. Thi# proctsa 11 irt¢ludè a of the ot4e¢bves of Ihp. Trust aThJ Ihe pU1¢ation of a rewsed thsion &)d str•te9y forlhe futur8 direclion and operalion ol the charity. StN¢tur•. GOrnIn¢• & Manage•nent The organisab.on Is a charitab16 company h"mile¢J byguarantee. incwatwj J May 1977 and wistered o¥ a ¢hwity on 3 May 1977. The company was eslaÈ4ished a rnemoraThJrn of a5soualion %wch e$lal$hed th• ei)je¢ts and powers of th• tharitable comp3ny and is govemed uw¥Jer ts aitide5 of association. These aleS of associatN)n were last updated in Jan(tary 2022. Ther• is no MmuM numw of rn¢rnbers ol the Tryst Any propjsol for rnemb8rshp must be proF4Jsed by w 8xisting Tnjslee and lnatn$ must be in writing unless after Ihe regnation there would b8 les5 Ihan fiv8 members r8mainin9. Each member recwves an equal wjte. 1th the chaian hIng Ihe (sting vot¢. The mernbers may appint any member crflhe Tnjst as a Trustee. tiect to the bein9 a rninynum anLI a maximum if 15 Twuste85. Th8 TnJ5te8s may at any trn? appJ¥ an tsJ b• a Trustm. Sle to th• maximurn perniitted as above. The Twst has a very small slaff. Thtre is one port.time partime manager frKCharry. Denr#s $er8 OU¥9 Ys run by a Diredo awwj managerTih addibanal SVPWLfrt4n zerchremFIOyees and 8 number of (#tractOrs. The affair5 01 the Tnk8l are managed by the Tr1885 make stral8gic and oroanisation81 dtcisions at Ihr meètings %thi¢h are held al monthly iniervls thrWoLtt the year. A number of I(Kd 5ub-cDrnmittee5 m88t rTwJre ro9ularfy and have limiled delegated aukn.ty to act be rtwetin9s ofthe fum of TnK8. These arrangements antl those tlewbed are sutr4.ect to reMv and txJtenti81 revision 2025r26. as part oflhé ongoing govemance that Is bo"ThJ undertaken ¥ith extem* wofesgcrfwl asg$1m. Key management personnel The key rnanagement persOnr1 of Ihe tharita• comw ar• TnJsle•s. Tnjslees gNe Ihdr freety and no TNstee reeelved remJnerai¥)n rifi9 the yw.
SPITALFIELDS BiIILDINGSTRiIST REPL OF TrETRUSTEES rrust••s' r•sponsibiliti•s in r•lation to th•fin•nd•l $tat•m•n¢s The trustt•s arè also directors of Tho SFitalfields Histtrfic Buidings Trust Limitèd th& wwposes tsf eamparty lawl are responsit)l• for prepariNJ the Tru$teeS Reptsl and the finantial statements in accordanc• apFlicabl• baw United bQwwJdorn Accounting Standards {United Wrn Generalty Accepted Acoyjnting pra8). Company18w requirè5 the TNsteei 10 ipartni siai•ments foT eaeh finanekql Yr. whith giv• a true •nd fairwiew of the state of affairs of t thtle company and of Ihe incorniTrJ resources and appl01 of r¢$our¢¢$. indyding the incune and expenditwe. of the charitat48 ccfflp8ny trthe year. In prepaiing Ihese financial staternents. the trustees are required to- se11 suitable ctyJhting pditses and then appty th consista)ty. cseNè the methods and wint1•$ in thè Charilies SORP., makelL9ments antl esbmales Ihat a reasonable and wytlenL stste ether aWitatAe UK Plcwiting SIrjards have been folh)ed. suty'ect to any material departures disdosed and explaineil in the fan04 stalements." arKJ epare Ihe account5 on the grd concem ba unle55 it i8 inaFvoW• lo that Ih? charita8 eompany will cont1 in opèratic. Thè Trust8•5 are re5pJnsitAtfor keeping ad8quate 0tirj records that disd05e wilh reasonabl? Bcturw at any bme the financaal posibon of Ihe charilat4e coyrpany WKI en8 Ihem to ensurg that thg finaVal $tat¢menls ¢0mY wilh Ihe Companies Act 20C6. They are also responsble for safeguarding the assets of the ch8nt8ble cornp8ny aThJ hence for tsking rèagone steF6 for wevèntion and detecbDn offr other irregularibg5. Members ol ts dvrity guarantee to contritrArtg an arnount not gxceeding £1 to Ihe assets of Ihe tharity in Ihe evenl of windin9 up. The total number ol such gvarantors at 31 2025 3 12024 - 3). Ea¢h rrember of the council of mana9ement i¥ a mernber of the tharity bul this entilles ordy to volin9 rwJh¢B. No rnember of the coun(al of rnanagement ha$ any tseneal InreSt in th¢ tsn"ty. This report has bew) wepared ID acccdan ilh the Stalement of Recomrrended Praclce. kcountlng and Repcrfting by Chantr"e$' and in accorfarKe lh the spe¢*1 prowsior6 ofPart 15 ofthe Companiesfv£t 2006 relab"n9 to smallerents"tie$. roved by the Trttstees cffj 17th Decwnber2025 on their behdf by. Ri¢haTd Pdlard
sprrALFtELDS HISTOIUC BUIDIIGS TRUST INDEPENDENT EXAMINERS REPORT TOTHE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 I rep tothechawiiy IrusteeJ on rhy •xThntion the1GC0wtsafthctyPWty Iwthe yew 31 March 2025 whKh ar8 881 tyjt on p8ge8 9 10 21. As the charfty true8s of Ihv 18nd $0 its thrnthL¥S lor the wrposes ra cihmpany L•wl ytyj are r8sponsible for the yepwation d the bccount5 in accordanco with the rewrement5 lll the Cnpan AGt 20C6 Ilhe 2006 Acl'l. HBTrillg Satisfied mysdf that the a¢LY4JNS pf It wmpany Brt not raoLtdtobb 8udhe4 under Part 16of the 2006 Aet and 8re digible for independerrt examin8tiM. I rewt n respecl c4 my euminafyon olyow cornpanys accounts as carried out undv seclion 14Softhe chantsALI 2011 fthe 2011 Artl. In rArtrny•xamvwkn I h•vefolloI the DirELon given bythe Charity Comrnission under secliw 14S(SMb) rl thE 2011 Act. Sirtts Ihe Company gm88 8xc•edtd £250.0110 rn1be 8 of a b)dy Ilsted m Sect 145 the 2011 ALI. I confimi thai I ou81ffitd to rerta th& •x8ftnal•JTh l am a m8mb8r ol Th8 ItaU10 of Chjrterel Acwuntarts Eand artd Weles. ufvkng mo ¢•LW to bdi•ve Ihat in any Materi roSPg¢t'. accourrting reccfd5 Were kept respect alth2 Gcrfnpany Bs rnound ty 5ecty 386L the 2006 Act.. thp 0rrtS dD not rtrfnY with r•quirern•nts ol soction 396 of the 2C AL oth&r Ihan Y rBqLirmort Ij th• 8cctyJrt8 gv¥e N Irue ond la ¥iV Is mattT ¢SIdred 88 pwl of 8n Indep9nd vamination., ( Recornnn¢Jed Prncbce accounn9 al rpryting by charitse5 aprAir4L49 to yepwing their accounts in 8¢Cty8rKe vith the Rep(ffb"ng StsThYw¢ opF4irAble in the UK 8nd Repuuic of IreLqntJ IFRS 104 I hav? no ¢oncern8 and h8¥e xTts8s no (thtr mailers in ne¢ln wilh the examhwtiw to allentioTh ¥hould be drawn In th58 r8wrt kn 0rf8T lo enat4e a wop8r und?J1j dthe a¢¢wnts to be reached. Iits Hamah orn10n CIPFAACA UHY Ros$ Brooke Suite I wdSh Ctsjrt Ablngdon 8u8th8ss Park Ad0Th OX14 1SY Date: 1911212025
SPITALFIELOS HISTORIC BUILDING5 TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOAIE AND EXPENDITURE ACCOUNT) FOR ThE YEAR ENDED 31 MARCH 2025 Unrtstrirted Restricted Funds Funds UnrÈstrltt¢d Resirlrted Funds Funds Total 2024 2025 Income from: Donations and legacies Charitable acti¥itie5 Investments her income 31,416 427.1 6.692 153.055 618.262 199,957 231,373 427.099 6.692 153.055 818,219 184,893 493.427 878 io 230,568 41S,461 493,427 878 io Total Income 199,9S7 679,208 230.568 909,776 Expendlture on: Charitable activities 893,369 893,369 316,814 316.814 1.210.183 1.210.183 639.339 639.339 ,083 19.083 6S8,422 658,422 Total expendilure Net incomèl- xptnditure Translers betvRen funds Nel movement in fvnds 1275.1071 1116.8571 1391.9641 39.869 211,485 251.354 1275.1071 1116,8571 1391.9641 39,869 211,485 251,354 Recon¢ililon ol funds: Total funds brought forwards T¢)tal lunds carr5Èd fonvard 703.878 211.485 915.363 664.O)9 428.771 94.628 523.399 703.878 211.485 915.363 CONTINUING OPEIiATIONS All inwrnB and exp¢n¢lure has wison rynw511fig Th8 not# on pJ8s 12 10 21 ol those fmaK4818tmerts
SPtfALFIELDS HISTORIC 8UILOINGS TRUST BALANCE SHEET AT31 IAARCH 2025 2024 FIXED ASSETS Tangible assets Intangible assets io io L013.483 5.701 1,019.184 1.031.657 8.SS2 1.040.209 CURRENT ASSETS Stod( Debtors Current a55et investments Cash at bank 33,1 40,573 35.025 473.836 582.501 14,682 16,658 1,114,152 393.178 1,538,670 li 12 CREDITORS: Amounts fallinq due wiihin oneyear 13 1316.6191 1891.0161 NET CURRE1 A55Ers 269,882 647,654 TOTAL ASSETS LESS CURRENT UABILMES 1289.066 1,687,863 CREDITORS: Amounts falling due after rnore than one year NET ASSETS 14 {761.6671 1772.51xII 15 523.399 915.363 FUNDS INCOME FUNDS Unrestricted Income funds Restrirted Funds 16 16 428,771 94.628 523.399 703.878 211.485 915.363 TOTAL INCOME FUNDS The charitable company is entitled to exemption from audit under Section 477 of the Companies Aci 2ClJ61or Ihe year ended 31 March 2025. The member5 have not required the charitable cofflpanyto ¢)btain an audtt of its financial statements fw the period ended 31 March 2025 In accordance with Section 476 of the Companies Act 21x16. TheTrustees aeknowledge their responsibilities fcr. ensurinethat the c¢)mpany keeps accounting re((d$ whith comply Sections 386 and 387 of the Companies Art 2006.. and .preparin8financial statements which 8i¥e a true and fairw1 of the stste of affairs of the company as at the end of each finzncizl year and of its profft or lossfw each finanoal year in accordance with the requirements of Sections 394 and 395 and 4thich otherwse tomplywtih the requirements of the Companies Aci 21)06 relatin8 to financial statements. 50far as applicable to the company. The financlal statements were approved by thÈ Board of Trustees on i December and were signed on its behalf TAt•• 10
SPITALFIELDS HISTORIC BUILDINGS TRUST The notes th page$ 12to 21 form part ofthÈsÈ fiNtI#l siaieft*nts STATEMENT OF CASH FLOWS YEARE031 MARCH 2025 2025 2024 Notes Cash flows from operating actiwties: Net cash prOded by operatin8 activities 11.156.032) 1,292.688 Cash flows from investing activities: Interest income 6.692 878 Proceeds from sale of fixed a$5ets 1.230.OLM) Purchase of fixed assets 1970,9821 Cash provided by (used inl investing activities 1.236,692 1970.1041 Increase Idecreasel in cash and cash equivalents in the year 80,660 322.584 Cash and cash equNalents at the be8innin8 of the year 393.178 70.594 Total cash and cash equNalents at the end of the year 473,838 393.178 A. Reconciliation of net movement in fund5 to net cash flow from operatin8 activities 2025 2024 Net movement in fLtnds Add back depreciation charge Deduct profit on disposal of fixed assets Deduct interest income shown in in¥esting actp4itie5 Oecrease lincreasel in stk Oecrea5e lincreasel in debtofs Increase Idecreasel in creditors Net cash provided by operating artivitie5 1391.9641 21.025 1150.8721 16.6921 {18,3851 123,9151 1585.2291 11,156.0321 251.354 26.039 18781 57.268 958,905 1.292,688
SPITALFIELDS HLSTORIC BUILOINGS TRUST NOTESTO THE FINAP4CIAL STATEPAENTS FOR THE YEAR EP4DE0 31 MARCH 2025 1. STATUTORY INFORMATION SpWfi8ldB HIS¢ &Jild1r Twst is regislered In and Wales. The ¢h8nty re9is¢ergd numbgr regislwed off addre$5 be Ind on the Genera IrrforM8i P89 The presentation GwwryollhefiwKi•15t0t•merrt5 L%PwTrJ $1grkngl£lwPAchl 4lwthefurthThlcLYrpr fort charfty. 2. ACCOUNTING PWCIES 8a515 of prnparaoon The financial stalernents have bten pYtpaTÈd in at¢Lyd8 AtLtyJMing R8POrtin9 by Ch8rptie8". Stotefflent of Recommerled Prb(e BprthEatrAe to prepamg th2ir acCrA5 in ac£tr&an¢e the Fin8no81 Repotyng Stan¢J¥d apF4ifyqlYe In tho UK ond Reput4ic of Ireland IFAS 1021 lÈffectNè 1 Janu8ry 2015FIChantres SORP IFRS 10211. Ihe FinanciBI Reporbng StBndard appliGble in Ihe UK and Reput41¢ £ Iran¢j IFAS 10218n¢J th8 Compws Acl M6. The finond81 ststements have been prepared Lmder the hisiorical ctst cLYN6ntion. b) Golng concem The frustees have prepared reved frfecasts and fe lthe thènty arNI. taking imo 8¢ctyJnt the economic conthliolls and PDssde chan9e5 trodiny perfumance. alDng5Trde thelacls noted above, thèy hove a r?8sM8ble expgctstion Ihat ¢he Charty ha$ ad¢qu•¢ resoLwce5 lo cL1e in operatvjnal existenc• for the foreseeatrAe future. The rkn•rty #rettye cA)rrdS to adopt the grAng £orwn bB5iS Itb preparing 118 fin8ndo1 ststernerts. Slgnificart judgqmpnts w8P8r8tion Strtents reQre3 10 make ennts. e5timate5 gnd 055umplK)r ab1 Ihe carrying valuEs of a$stt5 and Ik8ts'1ibes that 8re not wadily 8pparent from other sOUes. The eslirnatqs ar¥J Lmderfy¥b9 assum•$ We based on hist exwent arNJ Lthr fw¥8 thai are con8hl&rÉd to be reltrvani. Allu drflerfrtrfn Ihtt8 esipmates. ere 09z8¢Y in period m i¢h tl e5tirnats is bf Ihe Blle¢ts that ptirwjd or in Ihè F4rfodrfthe rth$lL and fLrfwe bf Ihe affod5 both wrrent and ILrtwe periods. Th8 Trnstees ¢¥Jder thol there awe no 9¥Jnrfwl gerts w eslim•te¥ irb fv preyralivn rl th¥se sMe1. dl Publb¢ b•n•fit Slffid$ HISt¢ Builthng5 Tnt meets the wtity Lmdqr FAS 1tr2. •) Lega ataius Th¢¢harity i$4 crynp4ny fffnited by guaran0 and ha$ no share caw. of each member In the event of 18 limrted to t1. Incomlng rnsour¢•s Incom8 18reco9nYLed th8 Stslement of FinarKA Adi¥itwwhen Ch•r>tatye Company has trrtiUmtrtt lo lh8 funds". any pwlcrfm8n¢e ¢(NJibM8 have mel.. rt is wr8blg Ihat Ihg irK(ffi• Mbill be receNed'. and thal tht arnr can bt mèasfftd rdinbty. Dc10 and SleS WB rEcognized In th8 fin8rKial sMeff*nts when the Tnjst is C(¥•nGe¢j Ihat tl%Te is entlement to the Irwme. Ihere is certairty Ld and amount in question can relk9blyfflea5ur•d. Any wJwdni51ratw tse chvged ts rqccgnized a5 UnTE5bithd iTKom?", Grants rac•ved for sw¢ifi¢ wrposes we Irnated as restThcted thJThl5. Amwnts re¥trded tt) fvlure counting F4ri0¢5 are oefwred and recognizvd In those periDds', End In¢t from ¢harttat48 IrUe5 irKoffle ¢8rryiThJ rrtrt thg dwvityts tith41i&4 malnlyfreffl 811 safes from Denr¥s Se¥w5' Hou50. 12
SPITALAELDS HISTORIC BUILDINGS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 . 2. ACCOUNnNG POUCIES- conl11Kd expfrnditvre Is regIS¢ inthfy Slatemortof Fina14 ActMti0$(x tsrfyi58 le9 cotrtIVe811on frt make a pèymenl to a third party. il 15 probawe that sdlernem il be requYeLI 8nd the arnOL ofthe oblig8tn can be rne8sur8d Yeliat4y. Exwthtwe i8 dassrfd that aTrJreg8le 811 relètel to acg(ry. Where C¥¢1 dirÉtlty &trArted 10 p11¥ he8diTh> Ihey have been dknLtedtD Xtivities on a ts& Expen4YibJre ch8ril8yg8dit ¢mPri58s frf Ih)¥8 Msts tythe chanty in the deary of ils 1e$ seThiceJ. 11 indud8¥ propty whL is bew)y by th• Trust and expendttur¢ relatiThJ io Nnniny of Denn SEVW5' House: Goverrwnce costs incknje those iwurred in thegGvemarralthe chwityand are wmarly associaied cJ)nstIbJlion aTrJ requir$., INecovw8ble VAT 1$ chaTgtd as a Cost 8gawtst the acttvity fL¥ th• eApèn¢Yiture was inwrred., and Support govemBrKe h•ve been •lkMt¢4 Jryro3¢h¥rilBtrAe thi Expendilure 1$ 8llo¢ated betW4een the expenditLwe Mtegryiu noted abwe b•s de%gneO lo thect the Use of Ihe resource. Costs ielatiryJ to • wticular •oivity are allocal•¢ dir•cUy: are apportioned on an DepcIatIon is prowd8d at r¥tSC8lculat•d toil8 ofitheo)sts (rfeath asstrtovarlhp 09&181 us9fi live asfollows.. Frold larAI Fr¢ghda 19$ F¢$ ¥fid - not d6t¥et4aied 50 years M 8 8twht4ine basis 4 yews M o strwW4lne bass Intanglble fixed assets Inlan9ble fixed assets are reco9nised al ¢0st I 8nlate<l Wr1$8 and any aLxumulateil imprrrnt losses. Assels are ¢8prtaIis ¥the it is prob8t4e that IW gwrate fU1u ecoTrxnt or benefits lor the tharity and %there the cost can be rreasured reltyy. knortisalKm is prow¢JwJ at rates cabJat0d kn tnle c4)st offOxe¢l assets. knss Iheir esb"matetJ $hI¢JaI value. ¢)ver Iho•NPed us•ful liv•s on th• bas•s.' W•b$it• 4 y•ws a Sbwght4in• ba515 Stodrs ore vaLued al the low8rof cwl and ri wh5•bbw ¥fiw mokirvd allw48 fwo0901810 gntl skmt moving rtoms. Th8 held by the Trust ¢s1$ (rf i18m hekl lor ffes In ihe htyJ8e shop, tthjether 1 SIkS of ¢sUM8t48 that wlt be in futwe experters. Shwt4emi thbtws arn mvaswed at tr8radion less arry ImwhYYrt ¢r•dttty interesl rnte meLhtyJ. Ta¥allon The Charithe ccfflpar4y is lo pasg Ihe tests 881 in P8rwaph 1 SthEdule 6 Act 2010 and Ihereltye il meets IhedofirAlM of a chMitat40 thpanY UK GTation tax purp05e&. Accxjrdingly. the charity Kthrtiarty8m[rftyntaxIQn in resFddirthme (rcaw g&ns recei¥edvthn c•towriescovered by Chapier 3 Part11 Crporthiw Tex Ac12010 orSts¢bon 256 d the TAln d Cherg88b Gall Act 1992. 10 the extentthal 5uth Incor c* ga$ Wied exdusivdy lo rlwl¥tAo pur$05. 13
SPITALFIELDS HISTORIC BUILDINGS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2. ACCOUPlllNG POLICIES- eorffhMd Fund a¢countsno Re5trfded fvnds. Ihese lunds Ihat be used IOT 5peafic rE5biciwJ Wr10$ wlthkn Ihe obs'8¢ts 01 the chwly. R8Stllclws arAe when ¥pe¢ffj by Ihe d(xv ry vAwi fvnds • forpartiU rasirfcted puwostrs. Unrestri(tsd general fun¢Js- Ihese we Can be used in wih thè Charit¥ objtrci$ ai thg diswliw of Ihe truste•5. DesIated fiJnds- Ih8s• are knds set as*le by the Injstees tyjt ofuntrIcted general fvnd$ lor sp¢afic lulLrt Fwrprffjes or wojects. p) T•nglbl• ¢urT•nt a$s•t Investrnents The cosl of acqulwl1c of Fryer¢K8$ and remVatiCr th8WBto we hdd in th• b818rte sheet as developvne ppe.S for renovalK)n and subsequent sale. Dnis Sever5 Hse •d the rl rEsw¥e5 thwed Ihe The g)vemmenl 14
SPITALFIELDS HISTORIC BUILDINGS TRUST NOTES TO THE FINANCIAL STATEPAENTS FOR THE YEAR ENDED 31 IAARCH 2025 3. DONATIONS AND LEGACIES Total Fur Trfal Funds Unrestylrted 1024 Dtrn¥tittfis•nd wfts Grants 31.416 31.416 199,957 184.893 184.893 199.957 230.568 230.568 31.416 199.957 231.373 184,893 230.568 415.461 4. INCOME FROM CHARITABLE ACTIVMES Unrestrided Tot•1 Funds 2014 2025 ennisSeveT5 Xou5e ¥It0 inrome Dennissevers House slK*p sales Oennis 5e¥ers House Sponsorship 356.211 356.211 360.001 360.(>Ji 88.426 88,426 45,OC 45,IXKI 427.099 427.099 493.427 493.427 5. INVESTMENT INCOME Total Funds 2025 2014 Bank Interest 692 6.692 878 878 6. OThER INCOME Trt•l Funds 2015 Profft on dlsposal ofassets Other Income I50 150.8n 2.183 153.055 2.183 io io 153.055 io io 1S
SPITALFIELDS HISTORIC BUILDINGS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2025 7. EXPENDITURE ON CHARITABLE ACTMTIES Dlvert Ta*1 Fu Support Total Funds 2024 Property expenditure OÈnnis Sevets, House eyndittire 687.891 394.468 770.129 8S.745 70.157 155.902 45.586 440.054 448.340 54.180 502,520 1.082.359 127.824 1.210.183 $34.085 124.337 658.422 7a. ANALYSIS OF SUPPORT COSTS T41 Unr¢strlLied ReArkt Total Funds 2024 0ank£haryes Intvest Expense Telephonelinternet Printing, Postage and stationery Admini5trator5' 5alariÈs 154 10.995 4.763 4.698 10.995 2,703 333 4.763 4.698 1.576 54,180 333 3.570 li 3.581 1.576 38.389 27.029 2.851 18.175 L202 18.2CKI 38.389 54.180 Legal & Profe55K>nal Fee5 Amortisation 27.029 7.803 7.B03 18.236 DeprltIon Insuranre 18.175 1.202 18.236 Audit & (olanCY Fees Storage Independent Examination Fee Overheads ii,f 11.600 6.722 6.722 3.2DJ 3,2CKI 6.495 6.535 7.286 7.286 Total charitsble atti10e$ 127.823 51 127.874 124.337 124.337 16
SPITALFIELDS HISTORIC BUILDINGS TRUST NOTES TO THE FINANCIAL ST"ATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 8. NET INCOME I (EXPENDITURE) 1024 Deprecwtion & Arnortisatiort Independent examiner's fee 11,025 26.039 3.2Q) g. STAFF COSTS 2024 staff costsand emolunnts .Wa8e5 Social security costs Pension contributw)ns 189. 179.622 11.236 1.692 1.970 198.716 192550 Average head count 16 16 No ern88 re¢eive¢J fjfflpwee benoffts PrOyer wn5ion ol thon £60.WO In ¢tther# turyent orth? prior yé¥. The key maTragemenl per5wnW Il gyv¢n Try51, Rwt Thg total bBneffts * the key rnanagement personnd lincludirJ ernrloyw pènsion tostsl Lrf1htrdrit0 ermpahy was in both t JrreTht an¢J PriLY year. None al Ihe tru51ee5 have been paid any WErriTrnI any olhErbeYfrt8 MkYtym8nl wlhin the chaty. No upw5Q5 We paid lo Twste4s in oilhet Iho oJrtert (Y FXiLYy•ar. 10. TANGIBLE AND INTANGIBLE FIXED ASSErs Land and Wbsil T*•1 COST At l April 2024 Addiiions 1.149.6q4 71.845 11,402 1.232R91 At 31 M•rth 2025 1.149.644 71.845 11,402 1.232,891 DEPREOAnON At IApril 2024 Charge lorthe year At 31 Marth 2025 128.359 7.802 61.473 10.3n 71.845 2.850 2.8SI 192.682 21,025 213.707 136.161 NET BOOK VALUE At 31 Marth 2025 1.013.483 5.701 1.019.184 At l Awil 2024 1.021.285 10.372 8.552 1.040.209 17
SPITALFIELDS HISTORIC BUILDINGS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. DEBTORS 2025 2024 VAT repayment from HMRC Prepayments 37.275 3.298 12,626 4.032 40.573 16.658 12. CURRENT ASSET INVESTMEPs Currtni asset COST At l April 2024 AdditK)ns L114.152 Disposals 11.079.1271 At 31 March 2025 35.02S The CaErwerrf wopwly wa$ sohj year The rnmwiThg £35.W14 12024: 05.0251 rdates to and ffttsbYJs Savaged an hlstLYk Ihataro res•. 13. CURRENT LIABILMES: AMOUNTS DUE YThIN ONE YEAR Trade crethtors Txtion satial security Other£reditus 1.719 9.607 2.618 IS.250 Current portlon of 01n¢ebaC ban Architertur41 Hwitaze In OthÈr loans io.( io.c 610.C I.C) 138.148 io.( 211585 1S.(KKI Accruals Defefred income 15,(YXI 316.619 891.016 18
SPITALFIELOS HISTORIC BUILDINGS TRUST NOTES TO THE FINANCIAL STATEMEIITS FOR THE VEAR ENDED 31 MARCH 2025 14. CREDITORS: AMOUNTS DUE AFTER MORE THAN ONE YEAR 2025 21J24 Architectural Hwitage loan BOuebaCk loan 750.(LYI 750.IKA) 11.667 22.sc 761.667 ?72¢)) this amount. £750.C4X$ 12024". £750.0001 rèpresents a due to the Archrtedural Herilaye Fynd to prwde orkin9 capital forthe wtyk being carried crt in Charing. The amwnt is I84 datel and bears inleresi * 6.5% The remoirmng £11,667 12024.. £22,500) 15 4 COWO bwrKe-bad( Iw. In1Y in Ihe surn c4 £50.000. thlch L8 repayab in 60equal instalrnents slarhw l J2022. The p)rtw)np8yablewfithw) 12 montf i indeIN Crethlcrfs". Amounts lalling due within year. The )an was frEe betWeenj 2021 and 30J9 2022 and Ihgre8fter intErgst is oppli¢d 412.5% p4 15. ANALYSIS OF NET ASSETS BY FUND Tty1¢td fllnB due after more I habilitles Total unreSttted intomefvnds L019.184 J71,254 1761,6671 428.711 Re5trirted incomefvnd5 Histori¢ Ewl•nd Resilienco fund 128.6621 97.755 1246621 97,755 25.535 Roth5thd Eranr 25,535 94.61B 94.628 1.019.184 265.882 1?61.6671 523,399 PreVIousOr Tw¥fdefad Wet tiffrÈnt SSts lllM*iFue llknb11Ies after than y•ar Totsl Unrestrirted incomelunds 1.040.209 426.169 (762.51XII 703,878 Restricted income lunds Histoiit Eth8land 2Jl.48S 211.485 211A85 211.485 1.040.2C8 637.654 1762,5LK)I 915.363 19
SPITALFIELDS HISTORIC BUILDINGS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE VEAR ENDED 31 MARCH 2025 16. MOVEMENT IN FUNDS Balartteai 31 Marth 20Z5 April 2024 General furbd5 606.958 1828.9091 221.951 Desi8nated funds: 19 prIet Str¢ei 169.450 484.428 164.4601 IlQ294 262.477 Pw¢yrty Henovion Fund 1221.9511 703.878 618.262 1893.3691 428,771 Previous yeor Balanco ai I Awi120 Ihtome EXpende T81erS 31 Marth 2024 General lunds 499.052 1628.6331 129.581 so.c0 Designated funds= 19 PrirKdet Stre 100.156 110.7061 169,450 4184.428 Property Renovation Fund 614.CrfJ9 1129,5811 679.2( 1639.339 703.878 Th? puoS& of thè Deswdnated Funds is re11. vrilh lunds be)g used for specnlc renovation prc¥ect5 Balance JI Mar<h 2025 Balance at I Aprbl 2024 Historic EnEland Resilience fund 211M5 47.114 112.043 1287.2611 115.0881 114,4651 128,6621 97.755 25,535 Bolh5child 8r•nt 211.485 199.957 1316,8141 94,628 HSstorf¢ En9land. grantfiy the pr bwn at Ihe kni51w¥ Pa. Cknir¥J Resilience fund. Natsonal Lctsy Htsge Fly rna• ataw"rpJ rdan aTrJ • W0$b3 19 Prinet s( g0Vem¢ and staff cns(s
SPITALFIELOS HISTORIC BUILDINGS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE VEAR ENDED 31 MARCH 20ZS •lantet I A4*iI 2023 balle at 31 Marth 2014 Prevws year Exptndilwe Tr•n51ers HistorK England 230.568 119.0831 119.0831 211,485 230.568 211,485 17 CAPITAL COMMITMENTS Th¢ r¢m#inin8 Historic En8land ldS are £ommitt¢d to b¢ spent on the r¢st¢Y•tion of Charinu durinB 2025-26. 18. ULTIMATE CONTROLLING PARTY The¢horitobIe¢omnY i$¢onsidered to h•¥eno lMte ¢omtrdliw rty. 19. RELATED PARTY TRANSACTIONS Ajte Forsh8W. a tIlK4teè. wa¥ paid £31XI fortolbn aThJ s8Nces. 21