Company registration number: 01492613 Charity registration number: 280628 **GREAT YARMOUTH PRESERVATION TRUST TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** Aston Shaw The Union Building 51-59 Rose Lane Norwich NR1 1BY ## **Great Yarmouth Preservation Trust Contents** ||**Page**| |---|---| |Trustees' Report|1—4| |Independent Examiner's Report|5| |Statement of Financial Activities (including Income and Expenditure Account)|6| |Comparative Statement of Financial Activities (including Income and Expenditure Account)|7| |Balance Sheet|8—9| |Statement of Cash Flows|10| |Notes to the Statement of Cash Flows|11| |Notes to the Financial Statements|12—20| |The following pages do not form part of the statutory accounts:|| |Detailed Statement of Financial Activities (including Income and Expenditure Account)|21—22| **Great Yarmouth Preservation Trust Company No. 01492613 Trustees' Report For The Year Ended 31 March 2025** The trustees present their report and the financial statements for the year ended 31 March 2025. ## **Objectives and Activities** ## **Aims and Objectives** The Trust's objects and principles are to preserve for the benefit of the inhabitants of Great Yarmouth, buildings of special beauty or of historic or architectural interest. To help achieve its stated aims and objectives the trust is continuing to build up its property portfolio to generate more revenue. Success is measured by the delivery of projects. Each project will have its own set of criteria, outputs and outcomes which are used to evaluate success. For example, number of buildings removed off the at risk register, square meter of building repaired or brought back into use, number of training hours delivered. ## **Public Benefit** The Trustees have taken due regard of the guidance published by the Charity Commission and they consider the charity provides a public benefit because without it the objectives would not be met. The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit. ## **Achievements and Performance** ## **Charitable Activities** Great Yarmouth Preservation Trust has continued to work towards building the charities resilience through securing financial stability. To this end 26 South Quay was sold to a third party with the funds used to strengthen reserves and support ongoing projects such as The Iron Duke, St Johns Church and 145 King Street. Officers and Trustees efforts have been concentrated on key projects which has seen the start on site of the repair and restoration of The Iron Duke which will transform this derelict building into a pub with food offer. The project is funded through a £2.4 million grant from the National Lottery Heritage Fund and £136,000 from Historic England. This large and complex project has taken considerable time and effort from those involved to take it to the final stages. The full restoration of St Johns Church which has progressed with a £495,000 grant from the Towns Deal Fund. The project will deliver the full repair of the former church for reuse as an arts centre. Iin addition the process of repair is being used as a vehicle to train young people in traditional building skills. Other projects carried out in this period include the repair and conservation of sections of Great Yarmouth’s medieval town wall. Further repair and temporary use of 145 King Street and a number of tadeonal skills training events and workshops. The final completion of the North West Tower took place and was opened as holiday accommodation. In summary the preservation trust has driven several projects forward and completed a number of others. It has reviewed and rationalised its property portfolio and set out a five year plan that will deliver organisational self sufficiency by 2029, reducing reliance on grant assistance in an increasingly challenging external funding landscape. ## **Financial Review** ## **Financial Position** As shown on page 6, the Trust generated a deficit for the year of £45,048. The Trust ended the year with bank balances of £90,740. ## **Reserves Policy** The restricted fund is used to maintain the company's properties and for major capital and renovation schemes. The unrestricted funds are needed to meet the working capital commitments of the charity. Further details are shown in note 19 of the financial statements. ## **Risk Management** The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and errors. Over the course of the period the Trustees have conducted a review of the major risks to which the charity is exposed and systems have been put in place to mitigate those risks. These are updated periodically to ensure they meet the needs of the charity. Page 1 **Great Yarmouth Preservation Trust Trustees' Report (continued) For The Year Ended 31 March 2025** ## **Structure, Governance and Management** ## **Governing Document** The organisation is a charitable company limited by guarantee, incorporated on 22nd April 1980 and registered as a charity on 17th July 1980. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. A special resolution was unanimously passed on 5 December 2022 to adopt new Articles of Association in substitution for, and to the entire exclusion of, the existing Memorandum and Articles of Association. ## **Trustee Selection Methods** The directors of the company are also charity trustees for the purpose of charity law. Under the requirements of the Memorandum and Articles of Association, directors are elected to serve for a period of three years after which they must be re-selected at the next Annual General Meeting. Following the unanimous passing of a special resolution on 5 December 2022, new Articles of Association were adopted such that directors no longer have to be re-selected at an Annual General Meeting after serving for three years. The Articles of Association specify that the Board of Directors shall comprise five directors representative of Great Yarmouth Borough Council and three directors representative of the Great Yarmouth Local History and Archaeological Society. In addition the directors shall appoint at least one representative from the community who has demonstrated interest in the historic built environment. The new Articles of Association, approved by a special resolution passed on 5 December 2022, now require that three directors will be representative of Great Yarmouth Borough Council, three from the Great Yarmouth Local History and Archaeological Society and three appointed by the directors having regard to their policies and procedures and also any guidance issued by the Charity Commission. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. ## **Induction and Training of Trustees** Any new trustees are offered a programme of induction and training. ## **Organisational Structure** The Trustees comprise nine members who are also the Directors of the Trust. Day to day responsibility for the administration of the Trust rests with Lyn Bales. Louise Averre provides book-keeping services. In addition, Darren Barker acted as Project Organiser for the Trust during the year before becoming Executive Manager. ## **Related Parties** None of our trustees receive remuneration or other benefit from their work with the charity. The charity's wholly-owned subsidiary, Norfolk Conservation Limited, was established to provide conservation to owners, businesses, local authorities and community groups. Norfolk Conservation Limited gift aids all of its profits to Great Yarmouth Preservation Trust to support the work of the Trust. ## **Reference and Administrative Details** ## **Trustees** Mrs E Dye Mrs M E Fairhead Mr A J Fakes Mr G E Freeman Mr P B Patterson Mrs A L Ruda (appointed 06/05/2025) Mrs A Sargsyan (appointed 06/05/2025) Mrs K Stenhouse Mr M Taylor Mr B J Williamson Dr P Davies Page 2 **Great Yarmouth Preservation Trust Trustees' Report (continued) For The Year Ended 31 March 2025** **Charity Number** 280628 **Company Number** 01492613 ## **Principal Address** Studio 3 133 King Street Great Yarmouth Norfolk NR30 2PQ ## **Independent Examiner** Lynn Mandari (ACCA) Aston Shaw The Union Building 51-59 Rose Lane Norwich NR1 1BY Page 3 **Great Yarmouth Preservation Trust Trustees' Report (continued) For The Year Ended 31 March 2025** ## **Small Company Rules** This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The trustees' report was approved by the board of trustees and signed on its behalf by: Mr B J Williamson Trustee > Date 11/26/2025 Page 4 Indepqndent Examln*s Report to the Tntstees of Gre* yarn￿￿th Preser¥at*>n Tntst For The Year Ended 31 14•rrh 2025 I report to rhe charity trustees on my examinath)n of the acrounts of Ihe Company for the year ended 31 Marth 2025. Responslbllltles and Basls of Report As the charity trustees of the Company land its directors for the purFQSts of c¢Jmpany lawlx you are responsible for the preparation of the accounts in ac£ordarKe the requ1￿Ments of Ihe COm￿nieS Act 2006 fthe 2006 Ace). Hiving sakn"sfied myself that the accounts of the Cornpany are not reqUI￿d to be audited under Part 16 of the 2(M)6 Act and are eliglble for independent examlnation, I rewrt in respect of my examination of your d)ariV5 Kcounts as carried out under section 145 of the Charities Act 2011 fthe 2011 ALf). fn czrryiThJ out rny examFnath)n I have follobved the Dlrethons glven by the Charity Commlsslon under stttton 14515) (bl of the 2011 Att. Independent Examiner's Statement Since the Company's gross income exceeded É250.000 your examiner must be a member of a body listed in secbon 145 of the 2011 Act. I confim that I am qualiffed to undertake the exarnination because l am a member of The A5￿00tion of Chartered Certifieij Accountants, which is one of the listed bodies. I have completed my exam¢nation. E confimi that mattets have come to my attention In conne(tion with the exarnination gfvlng me cause to believe: accounting recor￿5 were not kept In respect of the Company as wuired by section 386 of the 2￿6 Act: or 2. the accounts do not accorrt wth those records,. or the accounts do not cornpty with the accounting requirements of section 396 of the 2006 Art other thon any requirernent that the accounts glve a 'true and fair view, which iq not a matter considered a$ part of an independent exarnination: or the accounts have not been p￿pared in accordan￿ with the methods and prin(Iple5 of the Ststernent of Recommended Practice for atcounting and reporting by charities appllcabte to charlti¢s preparing their accounts in accordance with the Financial Reporting StaThJard applicable in the UK and Re￿blIC of Ireland {FRS 102). I have no concerns and have come across rm) other matters in connection with the exominabon to which attention should be drawn In this report in order to erdble a proper understsndin9 of the attounts to be wthed. Lynn Manda Date Q?/iil ACCA) The Union Building 51-59 Rose Lane Norwich NRI 18Y ## **Great Yarmouth Preservation Trust Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025** |**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**3**
Other trading activities
**4**
Investments
**5**
Other
**6**
**EXPENDITURE ON:**
Charitable activities
**8**
Other
NET (EXPENDITURE)/INCOME
NET MOVEMENT IN FUNDS
**RECONCILIATION OF FUNDS:**
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
**17**|**Unrestricted**
**funds**
**Restricted**
**funds**
**2025**
**2024**
**Total funds**
**Total funds**
**£**
**£**
**£**
**£**
55,300
297,533
352,833
371,416
547
-
547
2,246
58,475
37,538
96,013
69,990
36,211
-
36,211
95,813| |---|---| ||150,533
335,071
485,604
539,465| ||(175,360)
(327,825)
(503,185)
(494,100)
(4,500)
(22,967)
(27,467)
(23,999)| ||(179,860)
(350,792)
(530,652)
(518,099)| ||(29,327)
(15,721)
(45,048)
21,366| ||(29,327)
(15,721)
(45,048)
21,366
807,079
337,580
1,144,659
1,123,293| ||777,752
321,859
1,099,611
1,144,659| The notes on pages 11 to 20 form part of these financial statements. Page 6 ## **Great Yarmouth Preservation Trust Comparative Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025** |**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**3**
Other trading activities
**4**
Investments
**5**
Other
**6**
**EXPENDITURE ON:**
Charitable activities
**8**
Other
NET INCOME
NET MOVEMENT IN FUNDS
**RECONCILIATION OF FUNDS:**
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
**17**|**Unrestricted**
**funds**
**Restricted**
**funds**
**2024**
**Total funds**
**£**
**£**
**£**
62,801
308,615
371,416
2,246
-
2,246
46,461
23,529
69,990
88,780
7,033
95,813| |---|---| ||200,288
339,177
539,465| ||(159,691)
(334,409)
(494,100)
-
(23,999)
(23,999)| ||(159,691)
(358,408)
(518,099)| ||40,597
(19,231)
21,366| ||40,597
(19,231)
21,366
766,482
356,811
1,123,293| ||807,079
337,580
1,144,659| The notes on pages 11 to 20 form part of these financial statements. Page 7 **Great Yarmouth Preservation Trust Balance Sheet As At 31 March 2025** |**Notes**
**FIXED ASSETS**
Tangible Assets
**11**
Heritage Assets
**12**
Investments
**13**
**CURRENT ASSETS**
Debtors
**14**
Cash at bank and in hand
**Creditors: Amounts Falling Due Within One Year**
**15**
**NET CURRENT ASSETS (LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**Creditors: Amounts Falling Due After More Than**
**One Year**
**16**
**NET ASSETS**
**FUNDS OF THE CHARITY**
Restricted Funds
Unrestricted Funds
TOTAL FUNDS
**17**|**Unrestricted**
**funds**
**Restricted**
**funds**
**£**
**£**
2,436
165,741
808,000
900,601
1
-|**2025**
**2024**
**Total funds**
**Total funds**
**£**
**£**

168,177
168,178

1,708,601
1,731,101

1
1| |---|---|---| ||810,437
1,066,342
66,640
-
4,207
86,533|
1,876,779
1,899,280

66,640
66,220

90,740
143,562| ||70,847
86,533
**(103,532)**
**(187,416)**|
157,380
209,782

**(290,948 )**
**(320,803 )**| ||**(32,685)**
**(100,883)**|
**(133,568 )**
**(111,021 )**| ||**777,752**
**965,459**|
**1,743,211**
**1,788,259**| ||**-**
**(643,600)**|
**(643,600 )**
**(643,600 )**| ||**777,752**
**321,859**|
**1,099,611**
**1,144,659**| |||321,859
337,580
777,752
807,079| |||1,099,611
1,144,659| Page 8 ## **Great Yarmouth Preservation Trust Balance Sheet (continued) As At 31 March 2025** For the year ending 31 March 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the charitable company to obtain an audit in accordance with section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. On behalf of the board Mr B J Williamson Trustee Date[11/26/2025 ] The notes on pages 11 to 20 form part of these financial statements. Page 9 ## **Great Yarmouth Preservation Trust Statement of Cash Flows For The Year Ended 31 March 2025** |**Notes**
**Cash flows from operating activities**
Net cash (used in)/generated from operations
**1**
Interest paid
Net cash (used in)/generated from operating activities
**Cash flows from investing activities**
Purchase of tangible assets
Proceeds from disposal of heritage assets
Interest received
Rents received from investment properties
Net cash generated from/(used in) investing activities
**Cash flows from financing activities**
Proceeds from new bank borrowings
Repayment of other loans
Net cash (used in)/generated from financing activities
Decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
**2**
Cash and cash equivalents at end of year
**2**|**2025**
**£**
(153,503 )
(263 )
(153,766 )
(769 )
22,500
1,398
94,615
117,744
-
(16,800)
(16,800 )
(52,822 )
143,562
90,740|**2024**
**£**
13,793
(195 )| |---|---|---| |||13,598| |||(165,741 )
-
643
69,347| |||(95,751 )| |||100,000
(33,600)| |||66,400| |||| |||(15,753 )
159,315| |||143,562| Page 10 **Great Yarmouth Preservation Trust Notes to the Statement of Cash Flows For The Year Ended 31 March 2025** ## **1. Reconciliation of (expenditure)/income to cash (used in)/generated from operations** |**. Reconciliation of (expenditure)/income to cash (used in)/generated from operations**||| |---|---|---| |Net (expenditure)/income
Adjustments for:
Interest expense
Interest income
Income from investments
Depreciation of tangible assets
Movements in working capital:
Increase in trade and other debtors
(Decrease)/increase in trade and other creditors
Net cash (used in)/generated from operations|**2025**
**£**
(45,048)
263
(1,398 )
(94,615)
770
(420 )
(13,055 )
(153,503 )|**2024**
**£**
21,366
195
(643 )
(69,347)
812
(10,277 )
71,687| |||13,793| ## **2. Cash and cash equivalents** Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet: |**. Cash and cash equivalents**
ash and cash equivalents, as stated in the Statement of Cash Flows, relates to the|following items in the Balance|Sheet:| |---|---|---| |Cash at bank and in hand
**. Analysis of changes in net debt**
Cash at bank and in hand
Debts falling due within one year
Debts falling due after more than one year|**2025**
**£**
90,740
**As at 1 April**
**2024**
**Cash flows**
**£**
**£**
143,562
(52,822)
(133,600 )
16,800
(643,600)
-|**2024**
**£**
143,562| |||**As at 31**
**March 2025**
**£**
90,740
(116,800 )

(643,600)| ||(633,638)
(36,022)|(669,660)| ## **3. Analysis of changes in net debt** Page 11 **Great Yarmouth Preservation Trust Notes to the Financial Statements For The Year Ended 31 March 2025** ## **1. General Information** Great Yarmouth Preservation Trust is a company limited by guarantee, incorporated in England & Wales, registered number 01492613 and registered charity number 280628. The registered office is . ## **2. Accounting Policies** ## **2.1. Basis of Preparation of Financial Statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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 Ireland (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The charitable company is a Public Benefit Entity as defined by FRS 102. ## **2.2. Going Concern Disclosure** The trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charitable company's ability to continue as a going concern. ## **2.3. Fund Accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose. Restricted funds are to be used for specific purposes as laid down by the donor. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2.4. Incoming Resources** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ## **2.5. Resources Expended** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **2.6. Tangible Fixed Assets and Depreciation** Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Heitage Assets Improvements Cost Computer Equipment 25% on reducing balance Page 12 **Great Yarmouth Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025** ## **2.7. Heritage Assets** Only properties used for rental purposes are capitalised as fixed assets. The rental income is used to repair and maintain the properties to meet the Trust's charitable objective. The cost of fixed assets is their purchase cost, any incidental costs of acquisition, costs of improvements and less any grants received. Any costs incurred in the directors' opinion that are not expected to generate revenue in the future are written off to the Statement of Financial Activities as incurred. The Charities SORP (FRS 102) 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 Ireland (FRS 102) (effective 1 January 2015) requires that heritage assets are depreciated over their useful economic life. This requirement is not complied with as the directors consider that the properties have indefinite lives and so systematic annual depreciation would be inappropriate. The properties are included on the Balance Sheet at open market value. ## **2.8. Investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. ## **2.9. Cash and Cash Equivalents** Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts. ## **3. Income from Donations and Legacies** |**. Income from Donations and Legacies**|||| |---|---|---|---| ||||**2025**| ||**Unrestricted**|**Restricted**|**Total**| ||**funds**|**funds**|**funds**| ||**£**|**£**|**£**| |Donations and gifts|300|
-|
300| |Grants|55,000|
297,533|
352,533| ||55,300|
297,533|
352,833| ||||**2024**| ||**Unrestricted**|
**Restricted**|**Total**| ||**funds**|**funds**|**funds**| ||**£**|**£**|**£**| |Donations and gifts|2,800|
-|
2,800| |Grants|60,001|
308,615|
368,616| ||62,801|
308,615|
371,416| |**. Income from Other Trading Activities**|||| ||**2025**|**2024**|| ||**Unrestricted funds Unrestricted funds**||| ||**£**||**£**| |GYPT Consultancy||547|2,246| ## **4. Income from Other Trading Activities** ## **5. Investment Income** Page 13 **Great Yarmouth Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025** |Bank interest receivable
Rental Income
Bank interest receivable
Rental Income
**. Other Income**
Tower Income
Gain on disposal of tangible fixed assets held for charity's own use
Management Fees
Skippings Gallery
Car Park Fees
Other income
Tower Income
Gain on disposal of tangible fixed assets held for charity's own use
Management Fees
Skippings Gallery
Car Park Fees
Other income|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**2025**
**Total**
**funds**
**£**
1,398
-
1,398
57,077
37,538
94,615
58,475
37,538
96,013
**2024**
**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**funds**
**£**
**£**
**£**
643
-
643
45,818
23,529
69,347
46,461
23,529
69,990
**2025**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total funds**
**£**
**£**
**£**
-
1,500
-
-
-
1,500
3,648
-
3,648
4,167
-
4,167
7,275
-
7,275
19,621
-
19,621
36,211
-
36,211
**Unrestricted**
**funds**
**Restricted**
**funds**
**2024**
**Total funds**
**£**
**£**
**£**
-
7,033
7,033
50,000
-
50,000
7,962
-
7,962
4,167
-
4,167
6,341
-
6,341
20,310
-
20,310
88,780
7,033
95,813|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**2025**
**Total**
**funds**
**£**
1,398
-
1,398
57,077
37,538
94,615| |---|---|---| |||58,475
37,538
96,013| |||**2024**
**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**funds**
**£**
**£**
**£**
643
-
643
45,818
23,529
69,347| |||46,461
23,529
69,990| ## **6. Other Income** Page 14 **Great Yarmouth Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025** ## **7. Net Income/(Expenditure)** The net (expenditure)/income is stated after charging/(crediting): |Depreciation of tangible fixed assets - owned
Gain/Loss on disposal of tangible fixed assets
**. Analysis of Expenditure**
Charitable activities
Charitable activities
**. Support Costs**
Employee costs
General administration
Interest payable
Governance costs
General administration
Interest payable
Governance costs|**Activities**
**undertaken**
**directly**
**£**
447,116|**Grant**
**funding of**
**activities**
**£**

7,500|**2025**
**£**
770
(1,500)|**2024**
**£**

812

(50,000)| |---|---|---|---|---| ||||**Support**
**costs**
(see note9)
**£**

48,569|**2025**
**Total**
**£**

503,185| ||**Activities**
**undertaken**
**directly**
**£**
429,836|**Grant**
**funding of**
**activities**
**£**

7,500|**Support**
**costs**
(see note9)
**£**

56,764|**2024**
**Total**
**£**

494,100| |||||**2025**
**Charitable**
**activities**
**£**
525
46,714
263
1,067| |||||48,569| |||||**2024**
**Charitable**
**activities**
**£**
55,553
195
1,016| |||||56,764| ## **8. Analysis of Expenditure** ## **9. Support Costs** ## **10. Average Number of Employees** Average number of employees during the year was: NIL (2024: NIL) Page 15 **Great Yarmouth Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025** ## **11. Tangible Assets** |**Cost**
As at 1 April 2024
Additions
As at 31 March 2025
**Depreciation**
As at 1 April 2024
Provided during the period
As at 31 March 2025
**Net Book Value**
As at 31 March 2025
As at 1 April 2024
**12. Heritage Assets**
**Cost**
As at 1 April 2024
Disposals
As at 31 March 2025
**Net Book Value**
As at 31 March 2025
As at 1 April 2024|**Land &**
**Property**
**Heitage**
**Assets**
**Improvements**
**Computer**
**Equipment**
**£**
**£**
165,741
9,134
-
769|**£**

174,875

769
**Total**| |---|---|---| ||165,741
9,903|
175,644| ||-
6,697
-
770|
6,697

770| ||-
7,467|
7,467| ||165,741
2,436|
168,177| ||165,741
2,437|
168,178| |||**Buildings**
**£**
1,731,101
(22,500)| |||1,708,601| |||1,708,601| |||1,731,101| The properties are freehold properties and are held for direct charitable purposes. Part of the freehold property 32/33 Baker Street is leased on a long-term lease to Orbit Housing Association. The company's properties were last independently revalued on 31 March 2015 at open market value. The historic cost is £413,027. ## **13. Investments** |**Cost or Valuation**
As at 1 April 2024
As at 31 March 2025
**Provision**
As at 1 April 2024
As at 31 March 2025|**Subsidiaries**
**£**
1
1
-
-
...CONTINUED| |---|---| Page 16 **Great Yarmouth Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025** ## **Net Book Value** |**shares held**
As at 31 March 2025
As at 1 April 2024
**Subsidiaries**
Details of the charitable company's subsidiaries as at 31 March 2025 are as follows:
**Name of undertaking**
**Registered Office**
**Class of**
**Direct**
**holding**
Norfolk Conservation Ltd 26 South Quay, Great Yarmouth, England, NR30 2RG
Ordinary
100.00%
The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:
**14. Debtors**
**2025**
**£**
**Due within one year**
Trade debtors
26,847
Amounts owed by group undertakings
1,153
Other debtors
38,640
66,640
**15. Creditors: Amounts Falling Due Within One Year**
**2025**
**£**
Trade creditors
103,350
Bank loans and overdrafts
100,000
GYBC Loan <1 year
16,800
Other creditors
182
Accruals and deferred income
70,616
290,948
**16. Creditors: Amounts Falling Due After More Than One Year**
**2025**
**£**
GYBC Loan >1 year
643,600
**17. Movement in Funds**|1| |---|---| ||1| ||**Indirect**
**holding**
-
**2024**
**£**
14,648
616
50,956| ||66,220| ||**2024**
**£**
143,140
100,000
33,600
531
43,532| ||320,803| ||**2024**
**£**
643,600| ||| |**7. Movement in Funds**|||||| |---|---|---|---|---|---| ||**As at 1**|**April**|||**As at 31**| ||**2024**||**Income**|**Expenditure**|**March 2025**| ||**£**||**£**|**£**|**£**| |**Unrestricted funds**|||||| |General:|||||| |General unrestricted fund|807,079||150,533|(179,860)|777,752| |**Restricted funds**|||||| |32/33 Baker Street, Gorleston||1,763|-|-|1,763| |Other properties|73,440||-|-|73,440| |Cemetry project, Great Yarmouth||(302)|-|-|(302)| |133 King Street, Great Yarmouth|45,979||1,380|(5,456)|41,903| ||||||...CONTINUED| Page 17 ## **Great Yarmouth Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025** |135 King Street, Great Yarmouth
Estonian Exchange
Hopton Project
Bulgarian Exchange
Town Wall, Great Yarmouth
South East Tower
St Johns
St Johns - Hassocks
Winter Gardens
Great Places/ Rows
33 King Street
Coastal Revival-Town Wall
Great Pleaces/Scores
King Street Development
Market Place
North West Tower
Pinnacle Tower
160 King Street
Hemsby Barn
Coastal Revival Fund Wellesley
Future High Street Visualisations
Heritage Action Zone
Heritage Impact Assessment
Seafront Master Plan
Waterways
Iron Duke
14 King Street
145 King Street
**Total restricted funds**
**Total funds**
**Unrestricted funds**
General:
General unrestricted fund
**Restricted funds**
32/33 Baker Street, Gorleston
Other properties
Cemetry project, Great Yarmouth
133 King Street, Great Yarmouth
135 King Street, Great Yarmouth
Estonian Exchange
Hopton Project
Bulgarian Exchange
Town Wall, Great Yarmouth|(22,242)
-
(3,334)
(25,576)
1,553
-
-
1,553
(32,372)
-
-
(32,372)
25,535
-
(2,190)
23,345
76,488
34,741
(42,950)
68,279
70,691
6,824
(13,008)
64,507
(34,266)
115,047
(115,530)
(34,749)
(168)
-
-
(168)
(70)
-
-
(70)
20,392
-
-
20,392
12,898
6,000
(3,261)
15,637
(73)
-
-
(73)
516
-
-
516
(3,085)
-
-
(3,085)
2,607
-
-
2,607
(91,105)
-
(3,324)
(94,429)
3,413
-
-
3,413
28,724
6,667
(627)
34,764
62,868
-
(35)
62,833
2,000
-
-
2,000
1,515
-
-
1,515
11,255
-
-
11,255
1,151
-
-
1,151
(5,482)
-
-
(5,482)
(1,375)
-
-
(1,375)
36,037
142,870
(152,505)
26,402
(28,532)
21,542
(7,516)
(14,506)
77,827
-
(1,056)
76,771
337,580
335,071
(350,792)
321,859
1,144,659
485,604
(530,652)
1,099,611
**As at 1 April**
**2023**
**Income**
**Expenditure**
**As at 31**
**March 2024**
**£**
**£**
**£**
**£**
766,482
200,288
(159,691)
807,079
1,763
-
-
1,763
69,440
4,000
-
73,440
(302)
-
-
(302)
52,320
800
(7,141)
45,979
(18,757)
-
(3,485)
(22,242)
1,553
-
-
1,553
(32,372)
-
-
(32,372)
28,303
-
(2,768)
25,535
1,226
81,480
(6,218)
76,488
...CONTINUED| |---|---| Page 18 ## **Great Yarmouth Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025** |South East Tower
St Johns
St Johns - Hassocks
Winter Gardens
Great Places/ Rows
33 King Street
Coastal Revival-Town Wall
Great Pleaces/Scores
King Street Development
Market Place
North West Tower
Pinnacle Tower
160 King Street
Hemsby Barn
Coastal Revival Fund Wellesley
Future High Street Visualisations
Heritage Action Zone
Heritage Impact Assessment
Seafront Master Plan
Waterways
Iron Duke
14 King Street
145 King Street
**Total restricted funds**
**Total funds**|69,599
7,033
(5,941)
70,691
(39,444)
5,463
(285)
(34,266)
(168)
-
-
(168)
(70)
-
-
(70)
20,392
-
-
20,392
11,216
8,000
(6,318)
12,898
(73)
-
-
(73)
516
-
-
516
(3,085)
-
-
(3,085)
2,607
-
-
2,607
(9,310)
109,280
(191,075)
(91,105)
3,413
-
-
3,413
46,506
2,396
(20,178)
28,724
62,954
-
(86)
62,868
2,000
-
-
2,000
1,515
-
-
1,515
11,255
-
-
11,255
1,151
-
-
1,151
(5,482)
-
-
(5,482)
(1,375)
-
-
(1,375)
(49,827)
113,917
(28,053)
36,037
(21,882)
3,458
(10,108)
(28,532)
151,229
3,350
(76,752)
77,827| |---|---| ||356,811
339,177
(358,408)
337,580| ||| ||1,123,293
539,465
(518,099)
1,144,659| ## **18. Transactions with Trustees** During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows: |**2025**|**2024**| |---|---| |**£**|**£**| ## **19. Related Party Disclosures** Great Yarmouth Borough Council is represented by councillors as members of the Board of Trustees. During the year interest was charged of £22,967 (2024: £23,999) on secured loans from Great Yarmouth Borough Council. There were outstanding loans at 31 March 2025 of £660,400 (2024: £677,200). Norfolk Conservation Limited, the charity's wholly-owned subsidiary, was established to provide conservation to owners, businesses, local authorities and community groups. Norfolk Conservation Limited gift aids all of its profits to Great Yarmouth Preservation Trust to support the work of the Trust. During the year, Norfolk Conservation Limited donated £17,184 (2024: £13,884) to Great Yarmouth Preservation Trust. Great Yarmouth Preservation Trust does sometimes incur minor expenditure on behalf of Norfolk Conservation Limited, which is subsequently reimbursed. At 31 March 2025 Norfolk Conservation Limited owed £1,153 (2024: £616). Page 19 **Great Yarmouth Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025** ## **20. Company limited by guarantee** The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1. Page 20 ## **Great Yarmouth Preservation Trust Detailed Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025** |**INCOME AND ENDOWMENTS FROM:**
**Donations and legacies**
Donations and gifts
Grants
**Other trading activities**
GYPT Consultancy
**Investments**
Rental income
Bank interest receivable
**Other**
Tower Income
Gain on disposal of tangible fixed assets
Management Fees
Skippings Gallery
Car Park Fees
Other income
**EXPENDITURE ON:**
**Charitable Activities:**
**Charitable activities**
Rates and Water
Light and Heat
Materials and labour
Travelling
Equipment
Professional fees
Repairs, renewals and maintenance
Insurance
Conservation costs
Sundries
Rental charges
Yare Gallery
Grants to institutions
Depreciation
Staff welfare
Printing, postage and stationery
Accountancy and VAT advice
Legal fees
Secretarial and administration|**2025**
**Total funds**
**£**
**2024**
**Total funds**
**£**
300
2,800
352,533
368,616| |---|---| ||352,833
371,416
547
2,246| ||547
2,246
94,615
69,347
1,398
643| ||96,013
69,990
-
7,033
1,500
50,000
3,648
7,962
4,167
4,167
7,275
6,341
19,621
20,310| ||36,211
95,813| ||485,604
539,465
(279)
(343)
(12,288)
(6,425)
(300)
(210)
(2,696)
(3,804)
(1,107)
(258)
(214,267)
(182,412)
(35,199)
(25,926)
(22,738)
(22,189)
(153,289)
(183,442)
(4,183)
(3,727)
-
(246)
-
(42)
(7,500)
(7,500)
(770)
(812)
(525)
-
(124)
(629)
(3,679)
(2,904)
(6,223)
(17,251)
(30,004)
(28,263)
...CONTINUED| Page 21 ## **Great Yarmouth Preservation Trust Detailed Statement of Financial Activities (including Income and Expenditure Account) (continued) For The Year Ended 31 March 2025** |Software Subscriptions
Bookkeeping fees
Cleaning costs
Bank charges
Audit fees
**Other**
Loan Interest
**NET (EXPENDITURE)/INCOME**|(705)
(542)
(4,661)
(4,782)
(1,318)
(1,182)
(263)
(195)
(1,067)
(1,016)| |---|---| ||(503,185)
(494,100)
(27,467)
(23,999)| ||(27,467)
(23,999)| ||(530,652)
(518,099)| ||**(45,048)**
**21,366**| Page 22