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 sP￿ALFIELDs HISTOWC BUILOWGS TRi *AENU93QH" 2011¥2025 COMPANIES HOUSE #146 SPITALFIELDS HISTORIC BUILDINGS TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S Ch8hlat4e cmpany Report Ollhe TN4ees 2to7 R*port of Ihg Indgr*n¢8nt Exwminer Slatement rf Fin•nuol Acli%Yie5 Blar￿8 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 Wa*51 The directors ofthe Chari1￿1e comparry {l￿d￿ty1 its Iwusle•5ftyI￿ww trfthar*y l•f. The tru8t808 and oifK*r¥ ser¥ir¥J thm.ng the >wr. and tothe yearer*J 7*W• 85 ￿1￿￿$.. RJ BU￿11 DG ACruKksharth Ekstoen AP Forshaw M Gledhill GCD Harrfs MLAJoTdan MT K¥nnedy BR Litlle TJM Lornas RNH Munday J M Niedson HC Palin RAJ PdL8rd R88yd ￿￿jS1 S)24 Resy%d 2025 PATRONS DE 81ain EFHMcKay C R¢u9hkn ADMINISTrATORS MS Humphrey BANKERS Bardays Bank Hc 1 Churthiu Pla¢• Londc E14 SHP INDEPENDEPéT EXAIIINER Hannah Onnslon CIPFAACA UHY Ross Brooke s￿te I Windru5h Cwrt ￿￿ngdoM Bosiness Pa AtxnyJ¢)n OX14 1SY SPITALFIELDS BUIU>WIGS TRUST FOR THE YEAR EMDED 31 MAA¢•I 2025 The Trustees p￿sent Iheir rw and Ihe un*Klited Strtemenls for the year ended 31 M¥th 2025. Relerentè and athrfjnistrative infmii¢yi set out t*) page 2 10Th$ part of lh6 re￿yt 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 be￿O11h6 peo[* L(Thj¢￿ ofTwer Harnlets ofthe nabon at iqrge, whatever of the Eng￿$h and Welsh listcita. alth1tectur￿ and Constnjct¥)n￿ heiitsge may exist in and aroun¢J the distn.cl of Spitalfie*5 or dstwhefy in the fomi ol bjildings ol paiticuLar beauty or hL8torical. architectural w Constr￿trOnal interest. and to Pfunot8 the educatkin oflhe peO￿e ofthÈ London Bomugh ofTLwHamlet5 ol the nation ai krge ¢)ft themes relabng tg social cultural and architectural hisiory aTrJ to diver5ty. 1mrnlg￿t1cfi and ethnK and cultural identity. both his1or￿1 and wesent. inthdiry throu01 the opera11￿ rnaintenarKe of rnuseuffts and other educational institutions in and around Ihe disln'cl of Spilalfidds or elsevh￿re. The Truslees confiTh that ihey referred lo the cAtsn8d in Ih& Chwity general gL*danc8 on wblic benefrt rthfi•wr¥J th• ¢hantys and obithes and in ftrture a(*Mti￿. Obl¢¢ll¥•s for th• y•af In 2024.25 ts Tnjsl's key obiecfves to." conb.nue lo expand ￿VenUe generatioi al Dennk8 Sews H¢xtse, Ihe eff￿¢Y of its oper8lton. Complete ano sell the tso In CaerwenL Undertake assessments and repair5 to the knlyshcy's P*¢e at Chamg and prepare a maslerF4an for the Site. Cornplete on the l•ase of 19 Prinulel Street and beg"n assessment aThJ plannin9 and openin9. Submit an awlication lor a Resilience Grant frrm the Nab"onal Hw)ts9e Lottery FunLI to support earfy stsges of 19 Princelet str•8t and ChariNJ goYw￿nce ènhartement. Continue acti¥ili8s in rnainlaining put4ic aWare￿5S ol tr￿*￿1￿3$ in nè•d of sdvaticffj in Ihe ligm of tho throat pos•d to the luture ofthe SPita￿s afea in gene￿, and Bwick Lane in parficular. Contynue lo adwsg on Ihe preservation and restoration Clwcvert￿S in dan&*r of tA￿ration or demolibon. ACh1e¥emeb￿ and perfornMnc• nnls SevgTr' Hw$?118 Folgat• Str•el L¢>ndonl This fine 181h cenlury house was ￿mished and opened by the late Denn￿ Sevw5 and left to the TnBI in hi5 wll. In Ihis nanual year. under 8 ne￿Y apwnted Director. the fo¢w5 has been cffl.. improwng the efficiency of operalions and the staffing nM)del to lake into lo co￿￿e18b￿ safety requirements,. and. gengraliry addiltonal inoxng through new initiatives and offets. fvnthisro acbth and expans￿ ofthe m1￿Y5e and ￿lne shop. These adNtbe$ have been su￿$￿11 and inc(*h* tAas up on the year, and new offers have been W￿11 received. redesigwd websit• h8s cOntri￿rted to thks by mthrKJ tthkngs ￿er￿d to ueaw an cffjline dLmatlons page. C#•nvent Prnj•¢( Monmoulhshir• p8ir of houses at Carewènt- P4Tha Magna- TAwe cffjt•d aThl sold n this ￿1. Irrtarost kn th8 ttrJJ68s was high. and sympathetic buyers ￿re ftyJnd 4￿￿￿. Thts comFknd thts latèst ofth8 Trust's proj•cts, rastoring baek into Occupa￿On a derelict grade11 h￿Stt at I￿ cantre ￿the village that had a INJikling at risk for many years. Archbishop'$ Po1•¢¢, Ch•ring. K•nt In the year. the project at Charing folkn4*d fwr slrands.. Marketing". the &te was plac*d on the rnarket to find 8 syrroathetic purthaw. in pursuit ol the Trust's preferred objective forthe site- its restcrfabon as a $W￿le ar￿ entity. 2. Mast•rplannrng.' with suFs¥Jl from Plcdemy D•an Arthrte￿ and IrvJham Pir*)oth Assooat85, w• hav• d•v•loped wrth planning slAk8hotder5 the oulline of a MaSteW￿ forreskning Ihe site Sym￿1heticalty to use¥. in Ihe event that a single purchaw canTrot b8 I￿nd. 8am repair. with the supwt ofA wbstarfial fftt from Hi$ltyK E￿and. 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$alKjn w(xks. The* are th¢ first wths of ryr lo the 5chedu18d fflonum8FIt in many decade5 aTrJ secure it forthe Immed￿le fulure. penoing cornplebon of acknwtses l 12 abovg. The works were recor(led by th8 Canter￿ry Archaedogy TMSL adding kn understanth"¢YJ of site and stnjcture. 4. Local ctynmuThty enga9wnent 19 PrInC￿•t Str••t. London A house of 1716 wlh a synagogue added fivm 1870 *Tthin I0￿r rear T¢￿$ and txjlt to the 98rden. In Ihis y8ar, the Trust co￿leted 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 in￿￿al in5pectitin wofessK)n*s, ex￿Oring a VISI￿ for the fvtUTe of Ihe bJdi*n9 and applying for Historic England grant èssk%tan¢e l¢* inrtial ￿PaIrth81 will enknle ealy public actess pgndirwj full repair pl￿ecL Campalgnln4 •ngag•m•nt and other èdl*4111es The Tnjst's major focus has been the firtu￿ de¥eJOwn￿l of the Biick Lane arBa. Tlws folrrws th8 spr*J 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 d￿lopffl9nI 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 success￿1 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 C￿nrnUnty ¢xganisaiiMs. The Trust C￿MUeS lo pro*&ide advice lo ￿1 res*lents ￿ olhefs r￿ard to hisbyie bJildirwJ conservab"u) ar•a planniThJ issues. The Trust has regJn*d 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¥o￿les. l>Jrat*Ace cort"nue6 lo be soughl by ¢)wnern $9gking viab18 firture forbuildings at iisk toih in East LoThJc•) and elsewttere. Rgs1ll￿￿ Grant and go¥•rnanc• The Twst wa$ Su￿ssIU1 in applwng for a ResifiewKe Fund grant from the Nalionaf Lottery Heritsge Fund. Tffi"$ grant has Ihree purpos9$ Ihat con1￿6 into Ihe financ￿1 sEar 2926". Governance review. ex1ema rewew of Ih• gov•man¢e of Ihe ¢1ority, and iry+lemertatiw of recommendalions for prwrwJ resdience and pror*dures. 19 Pn"ncelet StreeL inibl business mod¢l and repaiF5 to 8nat4e oarty opBning. 3. Al￿1$hop.$ Pala(*. Charin9.' ￿e￿o￿ent ofc05ted rnast*r￿an 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 Tn￿t lo rnaintain unr￿lJ￿￿ed frèè funds at a èquates tr> at least months, Unre$tri￿ed oxpendibJr• lapwoximataly £50,000). whle *so pww"rfing gjffiient fvnds to C4Jmplete th(tse buflding and ￿fUrbi$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 l￿d of £378,771 and gerwl r•s•Nes of £50,000. SPITALFIELDS 8UILDINGS TRiIST FOR YE￿ ENDED 31 M￿lCH 2025 R•slri¢t•d R•s•m$ Restrided fLtnds tomwse gr￿ts lor speofK No restncled balances have been received or utilised on PTojects during the p8riL*J. De51gnatsd Fund$ A designated fiJnd,the proF￿4 rnnovaticnreseNe. has estailished bythe Trusl. *t¥th repTe5enis unrèstricted funds earmarft8d for speofic fijture renovation pr￿￿ts. 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¢. w*onal and Iw3wie88 risks tQT**thi¢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. l￿dIals1n9 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 fr￿nd¥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•)$8Th*icffj th1ertak•n in tho last fow years, no majLV works to the building ore ann8d ￿ lh8 nextffinanaal yw. Ar¢hblsh•p's Pala¢• at ChaAng. K•nt In 25126, th• TNst intends to advance the FXDiect to restsJe this m•di*¥a palati* conww whrch is one of HistNic England's highest prionty at risk srtes. The Tnjst ￿11 fdlow an agreed tsw"n trac* strate9y'. Continue to rnathet the site in orderto fnd a 5ympathelic parlner or pur¢ha$er to restor• th• $it• as $iNJl• home and outbuildings. 2. D8V81op 8 masle￿an IoTthe conseNalion arKI restoraihjn of th• 5iiè in lh• absèncè trfè&ngb*fubJre ￿ther1 restorer. This strand be supputed by the ResilN8nce Fund granl and %bill b•n&frt fr¢m ext•n$iv• PT¢)ftssional assistance fr￿n arthitecls, enginoers, bLMiness planners and c05t con5uhants. These activities be Overs￿ by a ne￿ y￿nted woied rn￿•3er. She also man898 ￿ sile and I￿ls0 th8 I￿1 ¢omrnunity. 19 Prfn¢del Str•rt LMd•)n The Trusl has five obJ'e¢bve$ for ￿ year. n pU￿Ul1 of ts wm ol openir4 this T￿na￿ble ￿lId￿ lo the publi¢ and fvlf Iling Ihe longtheltl intents.on th81 rt Shwld serve Ihe ¢r*nTr￿nIty 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 cl￿dIti"0n of the bulding in detail. 3. Cary oul ￿11*81 repair wths. d¢ctii¢J ffispedi￿S and fire safety assess￿ to gnablg safe public a¢w. 4. Begin the pr￿$$ of ￿)nser¥￿￿ aNI ￿10￿9 tre coledws aThJ (X￿tents 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￿ arx*ss. linitsd fonn, from 2028. Camp•igninq. 8n9ag8m•rt #nd otheracti¥ili8s The Trust *ill coniMu8 its involvement ￿ the Save Br￿k Lane campaign working d05ely with 0lh8r 0ryan¢58tic￿, conservalion gr￿pS aThJ hJc81 people. It is antripated that thts may rrmjve to a Put4ic Inquiry h81d by the Planning I￿￿Ctorate. 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 ca￿ty pem)its. under th• aegk% ofthè caff0a1￿ Commthe. Governan¢e and $tr•tegy During 25126 the Trusl intends lo (t¥npl* a govemanL* re¥7￿ exlemal profes￿onal supwt. I￿￿8￿ by th Re￿Ilence Fund gran{ 8nd implement any ￿menda110rts in orderto impwng reglienr* and procedures. Thi# proctsa ￿11 irt¢ludè a of the ot4e¢bves of Ihp. Trust aThJ Ihe pU￿1¢ation of a rewsed thsion &)d str•te9y forlhe futur8 direclion and operalion ol the charity. StN¢tur•. GO￿rnIn¢• & Manage•nent The organisab.on Is a charitab16 company h"mile¢J byguarantee. incwatwj ￿ J May 1977 and wistered o¥ a ¢hwity on 3 May 1977. The company was eslaÈ4ished a rnemoraTh*Jrn of a5soualion %*wch e$la￿l$hed th• ei)je¢ts and powers of th• tharitable comp3ny and is govemed uw¥Jer ts aitide5 of association. These a￿leS of associatN)n were last updated in Jan(tary 2022. Ther• is no M￿muM numw of rn¢rnbers ol the Tryst Any propjsol for rnemb8rshp must be proF4Jsed by w 8xisting Tnjslee and ￿l￿nat￿n$ must be in writing unless after Ihe re￿gnation there would b8 les5 Ihan fiv8 members r8mainin9. Each member recwves an equal wjte. ￿1th the chai￿an h￿￿Ing 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. S￿le￿ 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 managerT*ih addibanal SVPWLfrt4n zerc*h￿remFIOyees and 8 number of (#￿tractOrs. The affair5 01 the Tnk8l are managed by the Tr￿1885 make stral8gic and oroanisation81 dtcisions at Ih*r meètings %thi¢h are held al monthly iniervls thrWoLtt the year. A number of I(K￿d 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 persOnr￿1 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 pra￿￿8). Company18w requirè5 the TNsteei 10 i￿part￿n**i￿ siai•ments foT eaeh finanekql Y￿r. whith giv• a true •nd fairwiew of the state of affairs of t￿ th￿tle company and of Ihe incorniTrJ resources and appl￿01￿ of r¢$our¢¢$. indyding the incune and expenditwe. of the charitat48 ccfflp8ny trthe year. In prepaiing Ihese financial staternents. the trustees are required to- se1￿1 suitable *ctyJhting pditses and then appty th￿ consista)ty. c*seNè the methods and wint1￿•$ in thè Charilies SORP., makelL￿9ments antl esbmales Ihat a￿ reasonable and wytlenL stste ￿ether aWitatAe UK Plcwiting SI￿rjards have been folh)*ed. suty'ect to any material departures disdosed and explaineil in the f￿an04 stalements." arKJ epare Ihe account5 on the g￿r￿d concem ba￿ unle55 it i8 inaFvoW• lo that Ih? charita￿8 eompany will cont1￿* in opèratic￿. Thè Trust8•5 are re5pJnsitAtfor keeping ad8quate ￿0￿￿tir￿j records that disd05e wilh reasonabl? Bcturw at any bme the financaal posibon of Ihe charilat4e coyrpany WKI en8￿￿ Ihem to ensurg that thg fina￿Val $tat¢menls ¢0m￿Y wilh Ihe Companies Act 20C6. They are also responsble for safeguarding the assets of the ch8nt8ble cornp8ny aThJ hence for tsking rèagon￿e steF6 for wevèntion and detecbDn offr*￿￿ ￿ other irregularibg5. Members ol ts dvrity guarantee to contritrArtg an arnount not gxceeding £1 to Ihe assets of Ihe tharity in Ihe evenl of windin9 up. The total number ol such gvarantors at 31 2025 3 12024 - 3). Ea¢h rrember of the council of mana9ement i¥ a mernber of the tharity bul this entilles ordy to volin9 rwJh¢B. No rnember of the coun(al of rnanagement ha$ any tsene￿al In￿reSt in th¢ tsn"ty. This report has bew) wepared ID accc*dan￿ *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 •x*Thn*tion ￿the1GC0wtsafth￿cty￿PWty Iwthe yew 31 March 2025 whKh ar8 881 tyjt on p8ge8 9 10 21. As the charfty tru*e8s of Ihv 18nd ￿$0 its thrnthL¥S lor the wrposes ra cihmpany L•wl ytyj are r8sponsible for the yepwation d the bccount5 in accordanco with the rewrement5 lll the C￿npan￿ AGt 20C6 Ilhe 2006 Acl'l. HBTr*illg Satisfied mysdf that the a¢LY4JNS pf It￿ wmpany Brt not raoL*tdtobb 8udhe4 under Part 16of the 2006 Aet and 8re digible for independerrt examin8tiM. I rewt n respecl c4 my euminafyon olyow cornpanys accounts as carried out undv seclion 14Softhe chant￿sALI 2011 fthe 2011 Artl. In rArtrny•xamvwkn I h•vefollo￿I the DirEL*on given bythe Charity Comrnission under secliw 14S(SMb) rl thE 2011 Act. Sirtts Ihe Company* gm88 8xc•edtd £250.0110 rn￿1be 8 of a b)dy Ilsted m Sect￿ 145 the 2011 ALI. I confimi thai I ￿ ou81ffitd to ￿r￿erta￿ th& •x8ft￿nal•JTh l am a m8mb8r ol Th8 I￿taU10 of Chjrterel Acwuntarts ￿ E￿and artd Weles. ufvkng mo ¢•LW to bdi•ve Ihat in any Materi￿ roSPg¢t'. accourrting reccfd5 Were kept ￿ respect alth2 Gcrfnpany Bs rnound ty 5ecty￿ 386L* the 2006 Act.. thp 0￿￿rrtS dD not rtrfn￿Y with r•quirern•nts ol soction 396 of the 2C￿ AL* oth&r Ihan ￿Y rBqLir*mort Ij￿ th• 8cctyJrt8 gv¥e N Irue ond la￿ ¥i*V Is matt*T ¢￿SId￿red 88 pwl of 8n Indep9nd￿ vamination., ( Recornn*n¢Jed Prncbce accoun￿n9 al￿ r*pryting by charitse5 aprAir4L49 to yepwing their accounts in 8¢Cty￿8rKe vith the Rep(ffb"ng StsThYw¢ opF4irAble in the UK 8nd Repuuic of IreLqntJ IFRS 104 I hav? no ¢oncern8 and h8¥e xTts8s no (thtr mailers in ￿￿ne¢l￿n wilh the examhwtiw to allentioTh ¥hould be drawn In th58 r8wrt kn 0rf8T lo enat4e a wop8r und?￿￿J1￿j dthe a¢¢wnts to be reached. Iits Hamah orn￿10n CIPFAACA UHY Ros$ Brooke Suite I w￿d￿Sh Ctsjrt Ablngdon 8u8th8ss Park A￿￿￿d0Th 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¢ili*lon 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 *rynw￿51￿1fig Th8 not# on p*J8s 12 10 21 ol those fmaK4818t*merts 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 TA*t•• 10 SPITALFIELDS HISTORIC BUILDINGS TRUST The notes th page$ 12to 21 form part ofthÈsÈ fiN￿tI#l siaieft*nts STATEMENT OF CASH FLOWS YEAR￿E031 MARCH 2025 2025 2024 Notes Cash flows from operating actiwties: Net cash prO￿ded 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 st￿k 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 I￿nd on the Genera IrrforM8i￿ P89 The presentation GwwryollhefiwKi•15t0t•merrt5 L%PwTrJ $1grkngl£lwPAchl￿ 4lwthefurthThlcLYrpr fort￿ charfty. 2. ACCOUNTING PWCIES 8a515 of prnparaoon The financial stalernents have bten pYtpaTÈd in at¢Lyd8￿ AtLtyJMing R8POrtin9 by Ch8rptie8". Stotefflent of Recommer*led Pr￿b(e BprthEatrAe to prepamg th2ir acC￿rA5 in ac£tr&an¢e the Fin8no81 Repotyng Stan¢J¥d apF4ifyqlYe In tho UK ond Reput4ic of Ireland IFAS 1021 lÈffectNè 1 Janu8ry 2015FIChantres SORP IFRS 10211. Ihe FinanciBI Reporbng StBndard appliG*ble in Ihe UK and Reput41¢ £ Ir￿an¢j IFAS 10218n¢J th8 Compw*s Acl M6. The finond81 ststements have been prepared Lmder the hisiorical ctst cLYN6ntion. b) Golng concem The frustees have prepared rev￿ed frfecasts and fe* lthe thènty arNI. taking imo 8¢ctyJnt the economic conthliolls and PDss*de chan9e5 ￿ trodiny perfumance. alDng5Trde thelacls noted above, thèy hove a r?8sM8ble expgctstion Ihat ¢he Charty ha$ ad¢qu•¢ resoLwce5 lo cL￿1￿￿e in operatvjnal existenc• for the foreseeatrAe future. The rkn•rty #￿rettye cA)r￿rd￿S to adopt the grAng £orwn bB5iS Itb preparing 118 fin8ndo1 ststernerts. Slgnificart judgqmpnts w8P8r8tion Strte￿nts reQ￿re3 10 make ￿￿en￿nts. e5timate5 gnd 055umplK)r ab￿1 Ihe carrying valuEs of a$stt5 and Ik8ts'1ibes that 8re not wadily 8pparent from other sOU￿es. The eslirnatqs ar¥J Lmderfy¥b9 assum￿•￿$ We based on hist￿ exwent* arNJ Lthr f*w¥8 thai are con8hl&rÉd to be reltrvani. Allu￿ drflerfrtrfn Ihtt8 esipmates. ere ￿09￿z8¢Y in period m **i¢h tl* e5tirnats is bf Ihe Blle¢ts that ptirwjd or in Ihè F4rfodrfthe rth$lL￿ and fLrfwe bf Ihe affod5 both wrrent and ILrtwe periods. Th8 Trnstees ¢￿¥Jder thol there awe no 9¥Jnrfwl ￿g￿erts w eslim•te¥ irb fv preyralivn rl th¥se s￿Me1￿. dl Publb¢ b•n•fit S￿l￿ffi￿d$ HISt￿¢ Builthng5 Tn*t meets the wtity Lmdqr FAS 1tr2. •) Lega ataius Th¢¢harity i$4 **crynp4ny fffnited by guaran￿0 and ha$ 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 trrtiU*mtrtt lo lh8 funds". any pwlcrfm8n¢e ¢(*NJibM8 have mel.. rt is wr*8blg Ihat Ihg irK(ffi• Mbill be receNed'. and thal tht arn￿r￿ can bt mèasfftd rdinbty. Dc￿*10￿￿ and ￿S￿leS WB rEcognized In th8 fin8rKial sMeff*nts when the Tnjst is C(￿¥•nGe¢j Ihat tl%Te is entl￿ement 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 Ir￿U￿e5 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- conl11K￿d expfrnditvre Is re￿gI*S¢￿ inthfy Slatemortof Fina￿14 ActMti0$(x￿ tsrfyi58 le9￿ co￿tr￿tIVe￿￿811on frt make a pèymenl to a third party. il 15 probawe that sdlernem *il be requYeLI 8nd the arnOL￿ ofthe oblig8t￿n can be rne8sur8d Yeliat4y. Exwthtwe i8 dassrf*d that aTrJreg8le 811 relètel to ac*g(ry. Where C¥￿¢1 ￿ dirÉtlty &tr*Arted 10 p￿1￿1¥ he8diTh> Ihey have been dknL*tedtD Xtivities on a ts￿& Expen4YibJre ch8ril8yg8di￿t￿ ¢mPri58s frf Ih)¥8 Msts tythe chanty in the de￿ary of ils ￿￿1￿e$ 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 thegGvemarr*althe 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 •o*ivity are allocal•¢ dir•cUy: are apportioned on an Dep￿cIatIon is prowd8d at r¥t*SC8lculat•d to*il8 ofitheo)sts (rfeath asstrtovarlhp ￿￿0￿9&1￿81￿￿ us9fi live asfollows.. Fr￿old larAI Fr¢ghda ￿￿￿1￿9$ 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￿ 8￿n￿lateJi 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 $34.085 124.337 658.422 7a. ANALYSIS OF SUPPORT COSTS T4￿1 Unr¢strlLied ReArkt Total Funds 2024 0ank£haryes Intvest Expense Telephonelinternet Printing, Postage and stationery Admini5trator5' 5alariÈs 154 10.995 4.763 4.698 10.995 2,703 333 4.763 4.698 1.576 54,180 333 3.570 li 3.581 1.576 38.389 27.029 2.851 18.175 L202 18.2CKI 38.389 54.180 Legal & Profe55K>nal Fee5 Amortisation 27.029 7.803 7.B03 18.236 Depr￿l*tIon Insuranre 18.175 1.202 18.236 Audit & ￿(o￿lanCY Fees Storage Independent Examination Fee Overheads ii,f 11.600 6.722 6.722 3.2DJ 3,2CKI 6.495 6.535 7.286 7.286 Total charitsble atti￿10e$ 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 emolun*nts .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 ern￿￿88 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 lincludir*J ernrloyw pènsion tostsl Lrf1htrd*rit￿0 ermpahy was in both t JrreTht an¢J PriLY year. None al Ihe tru51ee5 have been paid any WErriTrnI any olhErbeY*frt8 *MkYtym8nl wlhin the cha￿ty. No upw5Q5 We￿ paid lo Twste4s in oilhet Iho oJrtert (Y ￿ FXiLYy•ar. 10. TANGIBLE AND INTANGIBLE FIXED ASSErs Land and W*bsil* 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 INVESTMEP￿s 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 T*x*tion satial security Other£reditus 1.719 9.607 2.618 IS.250 Current portlon of 01￿n¢ebaC￿ ban Architertur41 Hwitaze I￿n 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 BOu￿ebaCk 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 c*rt in Charing. The amwnt is I￿84 datel and bears inleresi * 6.5% The remoirmng £11,667 12024.. £22,500) 15 4 COWO bwrKe-bad( Iw. In￿￿1Y in Ihe surn c4 £50.000. *thlch L8 repayab￿ in 60equal instalrnents slarhw l J￿2022. The p)rtw)np8yablewfithw) 12 montf* i* in￿de￿IN Crethlcrfs". Amounts lalling due within year. The *)an was frEe betWeenj￿ 2021 and 30J￿9 2022 and Ihgre8fter intErgst is oppli¢d 412.5% p4 15. ANALYSIS OF NET ASSETS BY FUND Tty1￿¢t￿d f*llnB due after more I habilitles Total unreSt￿tted 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 Roth5th￿d Eranr 25,535 94.61B 94.628 1.019.184 265.882 1?61.6671 523,399 PreVIous￿Or Tw¥fdefa*d Wet tiffrÈnt *SS*ts l*llM*iFue llknb11￿Ies 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 prI￿￿et Str¢ei 169.450 484.428 164.4601 IlQ294 262.477 Pw¢yrty Henov*ion Fund 1221.9511 703.878 618.262 1893.3691 428,771 Previous yeor Balanco ai I Awi120 Ihtome EXpend￿￿e T￿￿81erS 31 Marth 2024 General lunds 499.052 1628.6331 129.581 so.c￿0 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? pu￿oS& of thè Deswdnated Funds is re￿11￿. vrilh lunds be*)g used for specnlc renovation prc¥ect5 Balance JI Mar