nuÈl%w*rtTrnllsxiMRef HK¥4.2WAr￿)￿ 14 OK>Tr3 1541.51 fAIT I￿¢ *0)0 112 P IM2 Canpany regstratsm nurnber.. 01*M4058 Chairfy reglstr*c¥) nunber. 509133 TYNE AND WEAR BUILDING PRESERVATION TRUST LIMITED (A canpany limited by w*)tee} Rep￿1 and FIn￿ClaI StateM￿ts the Year Ended 31 M￿h 2023 1111111 *ACIPHY35" 19112r2023 COMPANIES HOUSE #326 vrfuay6v*￿NQ TW*2￿￿ke1 HKS2-V4RG R35H 14 0*2W43 1&41'51 rf*i 0 Ir2 PY42 Tyne And Wear Building Preservation Trust Limited Contents Refe￿ce and A(knini5tralI￿ Detai15 1to2 Tnjstees. Rewt 3to8 Indep￿t AuditLvs' RepNt 91A>12 Statem¢nl of Finanaal 13 14 15 16 17to40 VvI￿als￿l￿[b Ttsn8OC￿)Rèf ￿?.?NAG￿95H 14 Dx Ztr13 1S4157 GMY Iufc •OID IQ P &42 Tyne And Wear Building Preservation Trust Limited Reference and Administrative Details Tn￿tee$ M Bozic IMBums R D Cl* Ire$wJned 25 January 2023) L adknd J M Dantels Irtsvjrnd 28 Alyil 2022) M D Firth (appoinled 25 January 2023) N A Hamza E L Mayes {aFvointed 25 January 2023) A D 1￿Ch￿l {appointed 25 JanL￿ry 2023) M Mwphy F A P Spaven {resyned 28 Porif 2022) K su￿am5 J Thcthpson {reswd 25 Janwy 2023) M R Tlv)mpx G UndeThtrrthl A M Watson K J Wilscffi (appointed 25 January 2023) A M Wyatt {awxxnted 25 J8Nay 2023) Secretary M Hulse Key Management Personnel Martin Fbjlse Kari VKkers incipal oifice Jom Marley Lodge Jom Marfey Centre Muscott Gr￿e New¢aslle Up1￿ Ts NE15 6 Regi$tered OffKe Buknan House Regent Centre NE3 3LS Company RegistRtion Number 01444058 Charity Registration Number 19133 Sollcitors: WeKJhtmar 1 Stj￿eSG* NeKa511e T)me NE14AD Trdrsgoth R¥1 FKS2QNRGIt15H 14 Dx 21123 1&4151 fwT iurc •OID Itt P4.42 Tyne And Wear Building Preservation Trust Limited Reference and Administrative Details Bankers plc Nesycasve UFth T)Y* NE3 1JZ Auditor T￿￿ arrtl We NE5 1N8 trXS2.2FffiG.R35H 14 1kn2￿ 1$11 51fWF1L￿c •0I01f3 P Y42 Tyne And Wear Building Preservation Trust Limited Trustees. Report The Trustees. are directrys for the purposes of COMp￿Y law, present ts annual repcrt logether vrilh the financial s&itements arKI auditr¥s' iepcrfl of the (*wilable cunpaiy fLY the year ended 31 March 2023. nKture. govemance and management Nature of governlng document The company is limiled by gu¥antee and rts g)verr4ng document is ils memcland￿l and Arlicles of Associalion. last amended on 301h January 2023. 51 ts incryrated n Erw and Wales- number 01444058 and is also a wistered ¢harty- number 509133. The mernbers of Ihe Counel hold no sh*es in the axnpary but each member ts a guarantor of the mpany lo an amotsnt not ex¢xeding £1 in the event ofthe o)mpany winding up. Recrultment and appolnthient of Trustees The goveming bcxty of the Tntst is a Cwnol rf ManageiMt whith meets ￿ a quarterty basls to decide overall financial and pdicy matters. Tr day to day iss￿$ are handled by the Twst Manager in oJnsuttab'on with the Chaimi￿. Chairman and Hon. Treasurer. Where more urgent matters require fijrther and ongoirvj attention. then the cou￿1 of Management appo1￿ a small workry gro ofthreo to fow rnembws V*lKTr t*e on board the matter * rewrt bal* their finilngs. New membw5 of the C The provision of housing for Ihose vhK> are vi eondrfions of need and the wnFfovement of Iw)using in the public sector or in charitatk ownersh¥> provided thal such power shall r•)1 extend to relieving any local authorities or othw bothes of a staluw duty to provth or imFrove housyv b} The maintenance. inprovemenl ￿ provision of ￿￿11¢ ameritses: c} Tr Creati￿ ol training arKI ernp￿ent oppc*iimibes ty the pro¥tsion of Mrykspa¢e. buildings andlor land for use faV￿￿the tem￿. 3} The promotion of the effectht use of resowces for ch¥1k￿e purposes by dHritsbte and non.chartkble Immlies for the benefft of the pu￿1¢ by tr* PTOViSiCffl of N*xkspac*. ￿lId1r￿ andlor land for use on faN)yJrable temis. v￿￿¥*￿3l￿*TIa￿5aL￿￿A&I RJSH 14 Ow ZQ23 Isliai 0￿r0￿[c+0) D 1ft P Tyne And Wear Building Preservation Trust Limited Trustees. Report Fundrnlslng dlsclosures The charity is required to reF#xI h(M rl deals wih fundra￿ from the wNic. The charity does not use profeSskY￿1 lundraiser ￿ L*mme￿la1 pathpator to rnise I￿￿5. monies raised direct frc*n tr public folk)ws all guh*ltr*es set by the Chaiity and UK law n every respe¢t We Publlc benefft The properties preserved by the trust with Ihe regime ol Tyne Wear are for the benefft of the wblic genefalty. These preswves properlies c￿tinue to FYoNide the Publ￿ Imth an insighl into the ¥)euftc historic, architectural or tow ¥rterests that c£Kdd otheTrvise be lost frryn the region. It ' for these ￿aSonS that the Intsiees cortsider prov•Je a publK benefiL Twstees cffifim that Ihey have ccrfnplied the requirements ot seCtM￿ 17 of the Charthes Act 2011 to have due regard to the public ber*fft gU1￿Ce p￿)r*hed by the Charity Ctynrnission for En￿￿d and Wale5. Risk Management The Council of M￿ageMent have assessed the Maic￿ risks to which Ihe ch¥ity is exF¢sed. in licular Ihose relating to tr* operations and rm￿$ of the charty. and are satisfied that systems are in place to miltgate the exFoswe to the mw risks. VvivalSgWIoYmn*•thi RBt TrNs241￿R3S￿ 14 ￿. Tr23 15.4157 eJATiufc •O)o Irèp 7A2 Tyne And Wear Building Preservation Trust Limited Trustees. Report hievem¢nts and pvforman¢¢ The year has seen cbser thing re￿IlorshIpS wilh Ne*￿asUe Cty Councl and G*She￿ Council vAth long tern) woiects being devekyd in parlnership wih these adjacent autlv)rities. It was a150 the final year of the heritage developm￿1 trust pathership a wowamrr* beiThJ promoled by the hitectur4 Hwi* Fund. In Sunderland the Levelling Up Funds were used to resth the str￿1 of 171 Hfrah St West and 1-2 Villiers StreeL TP4s wll support the re￿eratimpkled dwng the ￿al and has led to fyyo Ma1￿ projects beirwJ Mlenlrfied for fijlure This is the restoration of Keelmen's Hospilal and the coMm¢￿Ity developmerrt prc4ect at St Jom's Cemetery EIsv*id(. Further engagement was made with the authoiity lo suppcrft the devebpmenl of a Heritage Strategy far Ihe and also continue to act as the accoufttab￿ boo¥ for the Heritsge Ow Days programme. The Tntsys propety P￿lf01K+ is cnxial to the yratson cl Ihe crganisaiKm. The year saw a key tenant vacating Butress House. Brenkley. The Tnst have managed the process of securing a new long lem) tenant to repl&e the Import￿ reverwje stream. They have moved into the prwty and frtted il out for Iheir individual process aThJ rent payments will commence in the next finarKial year. FInal￿ in Gateshead. the local authcrfrty has fOrn￿d a Parthe￿h￿ with f¥VBPT and the Nalional T￿￿t to deliver a V￿￿le futtxe for Dunston Stailhs. Gateshead Rivwside Park St Marls Heiitage Centre. The woiect also seeks a ￿eater lir&kage alwo tr* green C￿lid¢￿ of the DerWerf￿yne Way maybe as far as Gibside. A geat deal of project de*lopment has been undertaken during the year and this has led to a successful bij to the Shared F¥writy Fund that begin in Apnl 2023. Rel FKSZ.2NF¢G.FI35H 14 154157 ¢*IT WTC+OID Ir2p Tyne And Wear Building Preservation Trust Limited Trustees. Report Financial review The rffianc1￿ f(Y the ￿ slw a £24,02812022: £16,581). The fixKls of the c*hvi* c£mpany amount to £2.322.825 as at 31st 2023 nthrfing restricted funds of £100.743. However as furlhL¥ described below. wwestriL#ed reseNes inchjde desI￿ated aMO￿ts totalling £2.202.104. The Tntst carries foThMd free reserves of £117.635. Pollcy on reserves nature of the i￿ome arrtl expendith stre¥ns. the need to match variable Ir￿ome and fixed The Councli of Management have identified that the wwestricted reseNes need to be desKJnated in respect of fuiure projects aKI against varicAts tYq)thties ￿ they have idenknfied the need to maintain these propert'e5 on basis. The balarK* of unre5tricied reseNes fonns the The Cound of Mawement c(W￿1n￿ to m*e Ihe fokn*iry de5iwati¢Th: . £30.000 in respect of [￿nsIon Stsiths ￿nual maIrten￿. . £6,0(Kl in respect of the orwJ(iw Mainten￿ of Wlwnf*kl C(*e 0¥w￿, C￿til* Botue Kikns the Whed$ at Blac*fell Hwse. . £809.104 in rnspeci ofthe Investrnents held at the ￿ end (atvaluaIiL￿). . £140,000 in respect ol tr* Old Wt. is now complete and tris represents net book value of ts f￿1 assef . £670,000 n ￿pect of Bultress House. vknith represeits tre net book vah*. . £2,000 in respect of Ihe 4Xher t￿rtage assets. vthich reweserts Ihe marf(et value at the ￿ar end. . £95,000 in respect of St Hlda's. which rewtserts the r*t book value. . £1(K),000 n respect of Hwjh Street Wts( reK*esents the prcwtys net book value. . £250.000 in respect of Ihe Catde Ma*eL wP#ch rqKesents tr* w¢pertls net book value. . £50,000 in respect of Bla￿ell Hader tr*xtse. . £50,000 in respect of ￿ xquisiliw fvrKI k) W•Yr potential Purd￿se5. un￿$trthd amounted to £2,222,082, and ta￿r￿j account d Ihe abtsve dwnaled unrestrided funds, vthich total £2.202.104 Ihe general uNestythd fund amcrtmts to £19.978. This amount less fixed assets of £2.343 ar#J adding back tong temi103ns ef £100.OLNJ equals £117.635 and represents the free reserves of Ihe charty. The Irustees i¥￿51dered il apF*opriate to tKJhl the equivalent of beh¥een six to ni￿ months unre5titted costs. vthich would equate to holding ￿efv￿en £100k- £200k in free reserves in a ￿)Ical >tar. The free reseNes are wilhin the targeted range set. The Trust has a loan attached to the investmwrt F￿1101￿ and Ihefef(¥e. slKK4d cashfiTh¥ require IL can (traw down cash Irom the Iiveslment p￿110 as wwed. vAlu41&4￿18 Tr*￿￿¢￿ Rel HKSZ.2flRG.R3&4 11 LK... Zots 154151 GMTIUTC•JlD 112 P Tyne And Wear Building Preservation Trust Limited Trustees. Report In ￿11 and May 2006 the Ilyee Leaselx4d PIq￿tieS and ts Bwl(*w$ and Structrxes in the Course of Preservatiw were reVak￿l by Storey SLTh *KI P*eTr, NvtK+ are regulated under RICS. m*ket value basis assumng ftll vacant possession. A furlher revaluaticffi was ￿Thied out in October 2012 by Lambert Smrth Hamptm). In Sep￿ber 2016 a valuation was perfonned by an extemal y￿Uer S)n St Hllda's Pit Head Shiebds. (ktober 2015 a valuaticn was carried CArt by Lambert Smith Hampkni. vtho are regulated under RICS. on Buttress House arKI Blackfell Haler HrAtse. In Odober 2016 a Val￿tIOn was tarried out by Lambert Smith HamptcKb. are r￿￿ated RICS. on Aldeman Fenwiek's H¢xtse, Bu¢tres$ H￿Se. 8lackfell Haulef Hwse and Old Low Light. Then dwing October 2022, Lambert Smilh Hampton. are regulated by RCIS. updatsd the ￿Uab"On for High Street West Sw)dertand, Old Low LKJhts. Buttess House. Black Hauler H(xBe, St H6da's Prt Head and 1 Calue Market based on an open market basis. During October 2023. L*nbert Smrth Hampion, W*￿ are regulated by RCIS. updated the valuation for 8trttress Hwse ffi an open martet ba5iS. The trustees that this most re¢ert represents the martet Ydlue of the Leasehold Prlnclpal fundlng sources The principal sources of funthng are grants ar￿ rental fKX)me. Key Management Personnel The board. give thetr tim¢ and no trustees received remunerakn n the year, have e<>nsidered the Key Management Perscfflnd IKMPI of the ¢harty, as noted n the Reference and Admintstration secti¢￿. Together the bo¥d. these KMP are charge of directing and controllirKJ. runrwryj aTKI operatirvj the adNrties of the charity m a day to day basis. The pay of the KMP is reviewed annuaty arKI ncreased in ￿￿rdaTrce with average earn1r￿. The trustees benchmath against pay levels of other charilies and similar ￿nIsati￿$ within the sector and Ihe regic￿. Pay levels are set usry Ihi8 vlfcffmation together wilh the budget and forecast informaticffi. ensuring that the Charity C￿ afford any PToposed in(feases. The toard then agree any uplrft to remunerati￿. Plans lor future Going coneem The charitys forecasts arKI PToiections the next months show that the charty should be able to conlThie in (Perat￿al existen￿ for that ￿riod. taking into accounl reasonable possible thanges in trading performance. The chanty has strorwJ We cash balan￿ and fixed assel investments and 15 Iwecasting for thi5 to wrtinue to be the case. The INstees have stress tested their forecasts, taking inlo acc¢unt vwious scenarv)s. aThl reM￿n Confident that ts uncertainties do l ¢ast Significant dL¥A>t on ts companys abilty lo ¢￿tiftUe as a sYArvJ concem. vIrt￿￿￿*￿i￿ 14 0*¥Tr23 15.41.57f4JT IUTC +OJ D l*? P I¢W2 Tyne And Wear Building Preservation Trust Limited Trustees. Report Statement of Trustees. Responsibilities The Trustees (who are also the directOTS of Tyne knj Wear B￿lding Preservation TnJst Limited foi the purposes of ￿rnPany lawl are resp0rrslb￿ for preparing the TnJstees' rewt and tr* financial statements in accordance the United Kingdom Accaunts'ng Standards {United lQngdom Generally Accepted ACC(￿n￿n9 Practice) and apFAteable and regulations. Comparry law requires the Trustees to wepare ffinanual statements for each financial year. Under company law the Trustees musl rn)l approve the ffftancsal StsI￿ents unless they are satisfied Ihat they give a true and fair view of the stste of affaits of the Charita￿e company and of its incoming resources and application of rE50urces. indudirg its income and ex￿￿[tUre. for that period. In preparing these financial statements. the Trustees are required to: seled sulta￿e accounting policies apply them corsi8tenty. . observe the meth￿$ arKI prirK¥>le5 in tre Chwibes SORP: makejudgements and est*rth that ae reas￿￿ble and slate ¥thelher applicable UK AccounliTrJ Standards have been foll*￿ved. subject to any material departures disclosed and explained in ts finanoal statements" and prepare the financial statements on the going concern basis unless it 15 ￿aPProPri* lo presume that the charitsble ccfflpany wll Lx)nlFnue in business. The Trustees are responsible for keepin9 adequate aceojnting retfKds that are sUff￿leftt to show and explain the charitable companls transactions and dtsclose reasonable accuracy at any time the ffinancial p0s￿on of the charitable company and enable them to ensure that the financial statements comply th the Comp3nie5 Act 2006. They are also responsible for safeguarding the assets of the charitsble company and hence for tskirvJ reasonable steps for the prevention and deteC￿n of fraud and other wregularities. Disdoswe of information to auditor Each member has taken Steps that they ought to have taken as a member in order lo make themselves aware of any relevant audit information and lo establish thal Ihe ¢harty's auditor is aware of that infonnatr"on. The Trustees confimi Ihat there is no relevant infomiaticm that they know of and of they know the amlitor is unaware. Small ¢ompanies provision statement This report has been prepared in accordance wilh small compantes regime under the Companies Act 2006. The annual report w approved by Ihe Trustees of the charty on 1111212Q2A.... signed on ts behalf ty. S Aexander 2023 15.4157 GMT OITC +OJD 112P 111 Tyne And Wear Building Preservation Trust Limited Independent Auditor's Report to the Members of Tyne And Wear Building Preservation Trust Limited Opinion WÈ have audrled the ￿ancIal statements of Tyne ArKI Wear BUlk￿r￿j Pieservation Trust Limited (the 'chartVI IOT Ihe year efvjed 31 Mwch 2023, which com&￿e the Ststement of Fvian¢ial Bal￿ Sheel, Slalemeni of Cash Flows. and Notes lo Ihe Finan¢ial Statements, a summary of ￿gn￿Kant acwJntr& p)licies. Tr finarKral rewbry frarnework that has been applied in Iheir preparalion is United ￿ngdorn A￿￿Jntir￿j Standards. c(¥nwi5ing Charilies SORP _ FRS 102 The Financial R￿o￿Trg Standard applicat4e in Ihe UK and RepJblic of IrelarKI' •¥J applKable law Iunited Kiwjom Generdly Accepted Acwjntitvj Practice). In c4Jr ￿lIr￿C￿l the fin￿la1 statements: give a f&r view of the state rfthe th*th/$ affairs as at 31 Marth 2023 and of its knc(#ning PActice' and Basis foT opini¢ We conducted our autht in aca)rda￿e vAth Intemalioml Standards on IUKI IISAS IUKI) and applicable law. Our resPOn￿l￿11t1es under those stanflards a￿ furlher described in the auditor reS￿nSIbIli￿eS for the audit of the f￿￿Tr¢ial statements section of our reporL We are independent of the charity in accordance y￿th ts ethical requiranents that are relevant to our autht af the finaneFal ststements fb the UK. k)dth￿n9 the FRC'S Elh'eal Standard. and the w0visic￿ available tor small enbfies. in the cweumstanett set note to the finaneiat slatements. and we have futfilled our other ethical reSp￿sibIlit[e$ in with these requirements. We bel*ve that the evidence ￿ have oblained 15 sufftierrt and apwr4xiate to provide a basis Conclusions relating to going concern In sud￿"n9 the stat￿nents. we have c{￿Ch#)ed that Ihe Trustees use ofthe 9)ing ¢oncern basis of aecounting n the preparation of Ihe fvwncial statements is appropnale. Based on ts wo7* we have perfomed. we haN* not Mknlified any Material uncertainkn rdativj to events (ty condilions ir￿Vidu￿1Y or ¢￿t¢￿ety. may tast sunifwt dwbl on the charity's ability to Continue as a wng ¢oncem fix a p￿* of at kast t•Atlve fflwths Irom V**wi the financial ststements were authoftsed ferf issue. Our responsibilmes and tr￿ respDnsd)ililies of the TDJstees *ilh resped b going (xxKern we described in the rdevant seclions oftris rewL TrdnsAc*th RAI HKS2.2NRG.R3￿I 14 (1* 2WL3 15.4157 GMT ILFtC 4010 Irip 12&Q Tyne And Wear Building Preservation Trust Limited Independent Auditor's Report to the Members of Tyne And Wear Building Preservation Trust Limited Other infornmlio The Truslees are reswtsibfe for Ihe olhef irrf0m￿¢￿. The Olher infom7ation cx)mprises the infom)ath)n included in anrA￿ rewjrt other Ihan the finanaal statements and our au¢frtor'$ report theref￿. Our opinicfft on the f￿an¢￿1 statements doe5 rnt cover the other infomlatton and, except to the extent olheNse ewiotly slated in eur rep(rt ￿ (k> nol ewess any form of assurance ndusion therec*). In connecli)n ￿￿1h our a￿j11 of Ihe financAI statements. (￿r res￿$￿￿￿ is to read the ¢ther infomial¢on and. in doirKJ so. consider the other infomiation ts mateiialty inconsstent wilh the ffinanc01 statements or our kntr* obtained in the OT 1)theTh￿ appears to be matenal misstated. M identify material W￿1)ns￿lenC1￿ or apparent material ml5State￿nts, we are required to detemiine vthether there 15 a mat￿la1 misstatement in the financial statements OT a matwial misstslement ofthe other Yrforn￿tlOn. If. based on the have perfixmed, we c¢n¢l that there is a material MBStateM￿rt of IIMS otrEr inform*￿. we We reqwed to rep(x¢ that lact. We have nothing to rewl in this reg¥d. Opinion on other matters prescTibed by the Conyanies Acl %100 In our op￿￿n. based on the wKlertaken in the COUF5e of the a￿litr. the inforniation given in the Trustees. Rewt for the fr￿Cial for vthich the fffta)cial stalernents are prepared is ccnsistent vath ffin¥Kial ststemerts". and Matters on which we xe required to report by exception In Ihe of our kno%￿edge underslandiw of the chaiity and its envyonmenl obtained n tr course of the audil. we have rnlt iden11￿ material ff4Sslatem￿ts in the Twslees. Rwrt. We have nothirKJ to rewt li respect af the lolbwry mattws vhwe the C(xnparw Act 2006 requwes us lo report lo rf. in ujr tyinion.. adequate accountirvj reL¥xts have not been kw cf rethyrs adequ* for our authl have not been re￿Ived from bwches rwjt visiled by us: or the financial slatements *e fK>t n awent thÈ aee4xmting records and retwns: cr certain diKlosures of Tnjstees rem￿eratiOn Speci￿ by ltw *e not mode: or W2 have not receNed all the Informalic￿ and ewanaticrts we reqLKe our audit. Responsibilities of Trustees As explained more in the Slatement of Trustees. Respr*tsiblitses Iset page 8), the Trustees are respMsiUe for the weparaticm of Ihe fuwicial statements arKI for being satisfied that they give a true and far Mew. arKI for such rrtemal ¢￿trol as the Trustees detem)ine is necessary to enable the preparatin ol fmant￿l ststements that we free fr(xn mater41 misstatement. vthelher the to fr￿d or error. In preparing the fma)ckAI statements, the Trustees are responsble assessing the charty's th.1￿ to continue as a goiNJ concern. thsck)sir¥J, as applK*JJe, mattw5 related to gc4ng COn￿M and using the going ¢rmcem basbs of accounting ￿￿eSS ￿ Trustees intend to liqiidate Ihe charty LY to cease ¢)peration5, or have feali51ic altemative do so. 10 Ref HKS2-2NR&f¢J%i 14 OBr2023 1541 571WT IUTC •QJ D IQ P 1142 Tyne And Wear Building Preservation Trust Limited Independent Auditorfs Report to the Members of Tyne And Wear Building PreseNation Trust Limited Auditor's responsibilitie5 lor the autht of the financial statements Our objectives are to obtsin reascmable assurance abcxrt the financial sLitements as a Ythole are free frc4n material misststernenL to fraud or error. and tQ issue an audrtor'$ report that includes our ownion. Reasonabk asSUr￿ce is a l¥gh level of assuran￿, Lxrt is not a guarantee that an audit conducted in accordance wih ISAS {UK) ahvays detecl a material misststement when it exists. Misstalements arise friffl ff•Jd or eThcff and are (￿5￿JeTed material rf. individually or in the aggregate. they cwld reasonabty be eypethd to Irf￿enCe the economic decisiors of users t*en on the basis of these financial statements. Irregularilies. fr*KI, we vthces of IKX￿¢ThnpI1•nce reguktions. We design procedures ID line our resp(￿1b￿l￿es, ￿￿ll￿d above, to detect malwial misststements in respect of I￿egUlaTI11es, indudirvj fr•Jd. The extent lo our Pr￿ are capable of dekctir irreg￿alItIes, including traud is delaibed belw. regularilies. inctuding fra￿1 and Mnwr. 11 v*tu¥sb3nal￿ Ti4r&avkn Rel ￿Nsz￿RG￿3STrI 14 0•¢%)23 15.41..57 GIATIUTC •O}D 112 P Tyne And Wear Building Preservation Trust Limited Independent Auditorf5 Report to the Members of Tyne And Wear Building Preservation Trust Limited In reSFon5e lo Ihe risk of irreguL4ritie5 and noNxxnplFance with la￿ Tegulation$, * desvJned procedures vthich included. but were nol limrted to.. _ ' agreeing financial statttnent discknsures lo urK1w￿.ng si4)P(*t1￿ documentalion.. ' reading the minutes of meetings of those charged IMlh govemance.. • enquiring of management as to acluaF and potential Ithgall￿ a￿1 d￿m5., ' reque51ing r￿n.standard c1%resp￿IenCÈ with the Charity c h.mit the auth"t pr￿￿ureS required to idenbfy nOr￿COmpl￿nce wilh law5 and regUlaI￿n5 to eryuiry of the Iruslees and other management and the 5peclion of regulatory and legal corresp￿th1￿e. rf any. Material misstslements that arise due b fraud ￿ be harder k+ detect than that arise from error as they may involve deli*rate conce*menl ￿ collush)n. A furtlw des￿lp￿.0n of our respjnstiilth.es ts avaiLible on the Financial Re￿rtIng Council's website al: wvAy.frc.org.uklauditersresp￿sibdIkn'es. This descnpbon fornis part of auditor's report. Use of OUT report This report is rnade solety to the charitabk Trustees, as a body, wi acCOr￿ce Chapter 3 01 Part 16 of the Companies Act 2006. Our audrt has teen undertaken $0 thal we mw3ht stale to the charty's Trustees those matters we are required to state to them in an auditorfs report and for no other purFose. To the fullest extent permrtled by law, we do not accEpt or assume responsitNlty to anyone other than the charrtable company ts T￿￿e$ as a boty. for ¢)ur audit work. for this rep)rt, or for the opirmons we have formed. Detlev Anderson FCA jsenior Stalutory Athditor) For and on tehalf of Kinnair A$s￿aleS Limited Charte￿d Accountant and StstUt￿ Auditor Aston Hou5e.Redburn Rt)ad Tyne and Wear NE5 1NB 14 December 2023 12 Ir￿￿L$￿￿#￿Tf￿rsathlln Rof HK524NRG.R3>1 14 Dx1023 1$4lsT f4AT¢iife •OI 0 Ir2 P 1S42 Tyne And Wear Building Preservation Trust Limited statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2023 Total 2022 Lknrestricted Restricted Income and Endowments from: Donations and legacies Charitthe actsNrybes Investment income Other income 1.872 132,602 28.192 325 358.929 142,885 25.157 14,273 132,602 28.192 325 Total Income 162,991 769.623 541.244 Expenditure on: Charitsble activblies 169.417 675.173 844,5 555.578 Totsl EXper￿lti {169.417) (675.173) (844.59)) {555.5781 assets 71.005 52.885 Net (expen(Ilure}firKome Transfers betrrteen funds 177.431) {13.017) (68,541) 13.017 (145,972> 38,551 21 Other wecognised gains and losses Gainsjlosses on revaluati offfixed assets 14 170.tM)O 170,000 21.970 Net movement in funds 79.552 (55,524) 24,028 16,581 Reconciliation of funds Total fur#ds fop•ard 2.142.530 2,222.082 156.267 100,743 2.298.797 2.282,216 2.298.797 Total funds caThied foThwd 21 2.322.825 AJI oflhe thwity's actr411￿ dwive from contmirKJ during the t¥￿ periods. 13 VIrtL4*robxq R¢1 FYS2.2NAG435H 14 0* 15.4157 r￿T (UTC •O}D IQP IfA2 Tyne And Wear Bullding Preservation Trust Limited Comparative Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2022 In¢ibme aftd Endowffle￿ from: Donations and legacies Charitabte activilie5 Inveslmenl 1nLx￿e 5.261 142,885 25,157 14.273 358.929 142,885 25,157 14.273 Totsl wicome 187.576 353,668 541.244 Expenditure on: Charitable adivilies 197.911 357.867 555.578 Total expendilure Ga#isAosses on inveslment assets (197.911) 52,885 (357.667) (555,578} 52.88S Nel incL¥nellexpenditurel Transfers be￿een fixKIs 42.550 11.089) (3.999) 38.551 Other recognised gains and losses Gainsllosses on revalual•)n of ft¥ed assets 21.970 21.970 19.491 (2.910) 16.581 Reconciliation of funds Totsl brought foThMd 2.123.039 159.177 2,282.216 21 2,142,530 1%,267 2 298,797 14 vlnL41Wa￿ffj TMsathTrRd. IXS2-214RfyRJSH 14 0x2023 1541"S7 GMTiufc *0)0 IIiP 17MZ Tyne And Wear Building Preservation Trust Limited (Registration number: 01444058) Balance Sheet as at 31 March 2023 2023 2022 N¢)te Fixed assets Tarrfjible assets Heritage assets Inveslments 13 14 15 2,343 1,307,¢MJ 809,104 2.118.447 3.455 1.137,000 880,109 2.020.564 Current assets Debtor¥ Inveslments Cash at bank arKI in hand 16 17 194.262 120.0(KI 95.034 409,296 52.363 120,000 150.608 322,971 Credito￿. Amounts falling due within one year Nel current assets 18 104.9181 304.378 (44.738 278.233 Total assets less current liabilitie5 2.422.825 2.298.797 Creditors: Am(￿ntS lallin9 due after mote than one year 19 Net assets 100.IKMI 2.322.825 2298.797 Funds of the charity: Restricted income lunds Restricted general fund Unrestricted income funds Unrestricted 21 1(Kl.743 156.267 2222.082 2.322.825 2,142,530 2298.797 Total funds 21 The financial 51atements pages 13 k> 40 ¥we aFproved by the Trustees. and authorised for t5sue on 121.122023.... and on Iheir behaw by. S Alexander Twstee 15 vxlUalS#ft•l￿ Tfanx*thi Rfjf HKS2QNRG4135H 14 0gc2fo3 1541J7 ¢WflUTC +0) D ltr?P IW Tyne And Wear Building Preservation Trust Limited statement of Cash Flows for the Year Ended 31 March 2023 2023 2022 Cash flows from operating activil Nel income 24,028 16,581 Adjustments to cash flows from nonash items Deprttiati¢n Impairment of I￿rtage assets Investrnenl income Financial instrument net {gainsl k)sses tt¥cAffjh statement of financial ac11v￿e5 Revaluation of irNestrrtents 1,129 407.664 {28,192) {25.1571 (170,CW) 21.970 52.885 305.617 {38.362) W0￿1n9 capital adjustments lkn¢rea5e)Idecrease in debtors Increas&lldeueasel in c¥edit(Ys Net cash flows fmm operatiry acts¥itses Cash flows from investing activities Interest receivable and similar ir Pwchase of hwitage assets Net cash tlows from investiry actsvit Cash fFows fr¢ym finan¢ing activili New loans obtained in the year Net •Jecrease in cash and cash equiwdlents Cash and cash equivalents at 1 (141.899) 40,180 57.880 26.577 18 7.059 28.1¥2 407.664 25.157 186,970 14 1379.472> (161,813} 18 120.(KKI 155.574} 150.608 95,034 (168.8721 319.480 Cash and cash eqjivalents at 31 M¥th 150.608 JI of the cash flows are derived frc*x c*nliNiThJ thring the above perKMts. 16 Vinuii&w•tutè R35H 14 Q•- 2023 1541 57(YAf IllTC +010 1p? P 11.42 Tyne And Wear Building Preservation Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2023 I Charity stalus The charity i% limbted by guarantee. Th¢rporaled in Eft￿and and Wales. and consequenly does not have share capital. Each of the Trustees is liable to contrbjte an amount not exceeding £1 toward5 tr* assets ofth¢ ctr•ity n th¢ event of liwid4lK)n. The address of ts regiskred office is: Bulman H(￿se. Regent Centre, Gosfcrti. Nth¥caslle upon Tyne. NE3 3LS The prinrypal place of iwviess is: Jthn Mar* Loyge. Jokn M*ley Centre. Grove. Newca511e Upon Tyne, NE15 fffr 2 Accounting policies Summary of significant accounting policies and key accounting estimales The princpal accO￿ting PDIKaes apPr￿d in Preparati￿ of tr*se financial slatemenls are set out belw. These pdictes have been co￿sten11Y aP[A￿ to all ￿arS presented, unkss othemse statement of compliance The ffinancial statements have been wepared fft accwda)ce %%ith ACCO￿lIng Reporbng by Charities.. Ststement of ReC￿nMerKIed Practice applicable to charilies weparing their accounts in accordance the Financk11 Re￿ir￿j St¥thrd a￿l¢ab]e in ￿ UK and RepublK crf IrelaThl IFRS 1021 (effective 1 January 2019> - Ichaiilies SORP IFRS 1021). the Fnanc4al Reporting Standard applicable in the UK and of keland (FRS 102}. also ccthply with the Companies Act Charities Act 2011. Basi$ of prepaTation Tyne And Wear Builthng Preservakn Trust Lynited meets trrt def#)ibon of a wblic benefft entty der FRS 102. Assets and lithlibes afe inilialty recognised at hi*irical cost or tranSaCtiC￿ value These fin•wi•l st*ments ¥e wepared in stwI¥￿ is the fiwKlional the entity. Going concern The charws forecasts and woieclions f￿ the next monlhs show that the charity should be able to ¢onlinue in wrati)nal e￿SIenCe for that wiod. lakw rrto account reason￿le possible changes in tradThJ perfom)ance. The charity has strory Fosthe cash balances and fixed asset inveslments and is forecasting for this to ¢£￿tinue lo be the case. The trustee5 have stress tested their forecasts. taking into account v*ious scenaiios. and rwnain Confxknt that the wKertainties do not cast significant on the crAnpan￿5 abihty to conlrK* as a wing wrvxm. 17 Vrtu•PS￿ndtsjre f14n5Bthun Rel HKS2-ZNRG RYSY 14 De￿2073 154151 t>AY (WC•Q)0 Ir4 P 2W2 Tyne And Wear Building Preservation Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2023 Estimation ￿certaInty and judgements The preparation of the financ4al slatemenls requires manwenl lo make judgements. estimates and assumptiMs that affect the amourts rep)rted. These esb'mates and judgements are continually iewed and are based on exwience and othtt faclors. exFecth'orffj of thxe events trbat e believed to be under Ihe L)r(￿m$tanCes. The key assumpti￿￿ concemiTrJ the future and ￿her key sources cl e$lwTrati￿ uncertainty at Ihe reporting dale that have a svjnrficant risk of causry a material a4uslment to Ihe Ca￿vIg amounts of assets and liabilities witrin the nexl ffftanCI￿ year irKILKIe: Heritage Asset valuatior￿. The assets valuatiors are c(msidered wywally in accordance V*ith the requirements under FRS102 and any change n Ihe Ydlue of the assets are refiected within the financial statements. kncome and endo￿nts All in￿)Me is rewrused orte tre charity has entitsement to the income. it Is wobable that tr* income will be received and the am￿nI ofthe inese costs wwred ty the charity in the delp￿ry of its adivfye5 and servi￿5 for its tenefKiaTies. It indudes both costs that can be ￿l￿ed drecty tr) such aL*vil￿5 Support costs Support costs have been alocated kn ac11￿ty ¢osl ￿tegirn m a basis t￿$￿$tent with the time spent by the employees on each aclivity and on those actswbes re¢￿sary to properly govem the thaiity. Govemance costs are also ￿uded V*iihin 5UPF￿rt o)sts and are those costs mcU￿ed in the govemance of Ihe charity and its assets awe primarty a$$￿ted with consts'lutK)nal and slatutory requiremerts. Fund structure Lknrestricted inccme funds are genera lunds Ihat are aYaaab￿ for use at tr* Truste￿ disc¥etion in fvrtherance of the objectives of the charity. Reslricted income fvnds *e Ihose donated fty use wi a p￿ti￿laT area (Y for P￿p￿, Ihe use of ￿l¢ti is restricted to trAt area or purpose. Tangible r￿ed assets The trustees do not have a set d&minimis below *thich expendibxe of a wital nalure are not Ca￿￿1￿ed. All such experK1it￿e ts review￿d and capilalised necessary. Deprecialion and amortisation Depreciali(m 1$ provided ￿ t*￿Ible ￿ed assets so as to irfl ts cost or valuali¢xK less any estimated residual Ydue, over their exFe¢led usefvl ec¢nomic live as fomws: Asset class Fumilure and Ewixnent Deprnciation meth¢MI and rnt¢ 15% straigm fine 19 virtU￿￿na￿￿e Trons&(thiRel HKS2.?NRG.R￿ 14 IkC￿23 1541 $7 ¢￿r iutC4010 112 P 2Y Tyne And Wear Building Preservation Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2023 Fixed Assets . PreseThation Schemes . Restricted Funds The Trust. a company linited by guarantee, hawThJ as its primary tharilable purpose the pre5erv**)n of IMstor¢cal buildiros (indLMlr¥J artefacls and land} I￿ld9 such asxts and i￿￿￿$ necessary Th• Tntstees ￿￿KIer thal the fokn*•vJ are wred to &itisfy their oblwiorts Company and ChanlatAe L&v. (il Expenditure incurred on westh*tion vh*te tr￿ Tntst has a kgal ntuest ￿elher leasehold or freehold, 15 CaF¥￿I$ed. (li) Grant and assistance le￿rIed spe**ty to Ihe expurflure is ¢xedited to a restricted lund. (iiil Properties, ￿ let, Mruld rn¥malty be consvjwed by ALxxxx*irvJ Standards as wwestment prowtes requiring annual revaluation or deprech*icffi. The C¢un￿l of Management reviews eath propety to ascertain if revalualion is afvwiate and r*cessary undertakes to as(wtain a Ma￿et value. Hewitage assets The charty holds h* assets. are tsrwJible r￿ed assets of historical. artislTrc. Sc1errf￿, teelw￿￿J1ra1, geoph￿1￿ en¥ir(Ymentsl imFxxtsnc* that are hekl to advance preservation and o)n5ervation objeclives of the t*arity. Newty pwchased heritage assets are caprtaltsed arKI included at eost lick￿n9 any incidental expensts of actyisitson. perlies purthased using grants receNed are shrywn as unrestricted assets and their NBV Where hefitage awts wuired til past act4￿Aling PttiCAls rK)t Captlaltsed. it can be drfficu or cosly to attn.bute a ra)st or vaL* to them. In s￿h cases. these assets are excltsJed from Ihe balance sheet rf reliable informati(m is not available and eonventsnal valuatr'on approaches lack sufficient reliabilty or wnificant costs are rNolv&J in Ihe reconslnKlion ￿ analy5B of past accounting records or in valualKn, which are onerous ecxnpared ￿￿th the additional benefft derived by users of the accounts fft a$S￿¥￿j Ihe Il￿tee$. stevrar￿lP ￿ the as%ts. The very long expected lives of Iwi* assets, due to their nalure, val[* and rted to te protected Impairment of fixed a$sets and herttage a$$ets A review for inditalors of impainient is carried at each rep￿ir￿j d*. wilh Ihe recoverable amourrt beiry e$lwnated where such I￿1¢#tO￿ exist. Where the canyrKJ value exceeds the recoverable arno￿1, the asset is impayed a¢(x)rth"ith. F¥ior vnp3im*nts are also reviewed for possible reversal at each date. W￿1&9￿￿￿￿￿Trafis•xth HKS2 Y4RG R3SM 14 Dr.*23 15.41 STr￿+t(urC •OJD 112 P 2J42 Tyne And Wear Building Preservation Trust Limited Notes to the Financlal Statements for the Year Ended 31 March 2023 Fixed asset investments Fixed a55et inveslments. other than programme reLited inve$tmefts. are r￿uded al Ma￿et value at Ihe balance sheet date. Reali5ed gains and h)sses investments are calculated a5 the differerte btheen sales proceeds and ther m*ket value at the slart of the ￿ar, or their sth5equwrt cos( e Ch￿ed or credited to ts Statement of FuwKial ktivities n the perK>d of di5FWI. Unrealised gal￿ and losses represenl the movement in mthet Yak￿ durirvj the and are edited or ¢h¥ged to Ihe Siatement of Fina￿1￿ Activthes based on tt* market value at the ypar end. Current assel investments Current assel invesknents are induded at Ihe of aThl rlet realis*le Va￿ I market value. Trade debtors Trade other debtots are reeogrused at the sellleff*nt amcwffl after any trade dls(xiunt Cash and cash equivalents Cash and equivalents c4)mpri% cash Im h•Kt and call deposits, and ¢)ther sh¢)rt.teTm highly liquid ¥ivestrnents that are readity cry￿e￿"bIe to a krwy•m anwnt of ￿$h aTrJ are ￿￿leCt io an insignifi￿t ri￿ of¢hry n va￿. Trade credilo Creditors and provssions are recowised vfftere the charity has a present obligalv)n resulting from a past evenl that wll prowy resutt in the transfer of fvrx15 to a third wty and the amount due lo selve the obligalion can be measured ￿ estimated rdiat4y. c￿jitorS and pr￿￿1(Th aTe r¥)rmally recognised at their selllement amount aftw albwi47 f(Y ￿ trade th￿jnts ts. Borrowings Interest*earing I￿110￿$ are nibalty reccKded * far Va￿￿. nel of transacbon costs. Interest*earing torrowirys we subsequenty at amorbsed c¥)sl W*ith the drfference betr￿en the Pro￿d5. net of trar6xtion costs, and arkv)unt due on redemption being rewnised as a tharge to the Statement of Finanry* ActsvrW ovw the perth of the relevant borrowing. terest expense is recognised on the basis of1he effeclrrfe wrtwest method and 15 induded in interest payable aTrJ simlar c￿e$. BorrowiThJs are dassified as t>JrreN Imbdilies the has an to defer setllement clthe li*lty for at knt monts after Ihe re￿Iry date. Operating leases Oefin¢d ¢ontribution plans ContributtC*ts to defined contribuli¢m plarts are rec4wised as an expense In the #i vthi¢h the related service is provided. 21 Ti&nsa¢tvn ADf HKS2.2NRG.F13SH H Or. 1541.5T GIIT IUTC 4QID Ir2P2442 Tyne And Wear Building Preservation Trust Limited Note5 to the Financial Statements for the Year Ended 31 March 2023 Taxation The charity is ccfflsidered to pass the tests set CArt in Paragraph 1 Scwule 6 of tr￿ Finance Act 2010 and therefore it meets the deffift￿ of a dwilable ctmpa)y UK corporation tax purposes. AcMr(lingly. the charity is potentialty exanpt from taxatm in respect of inc#)me or eapital gains received within categories e4)vered by Chapter 3 Part 11 of the ¢￿alkin Tax Act 2010 or Se¢tson 256 of the Taxation of Chargeable Gains Ad 1992, to Ihe exknl that such irthme or gm are applied exdusNdy to ¢h•**le puryxjses. Financial instwments Financial assets and finarKta liabilities ¥e rec4)gnised the charty beccrfnes a paty to Ihe ¢x)ntra¢tual FWVISMS of the Instr￿ent. Basic financial irtstrwnents are inttially rec4)grised at the amount receivable or payable including any related trarsaclion costs. wless the arrangement constilules a financiThJ trartsaction. vthre il is recognised at the wesent value of Ihe lulure payments discounted at a market rate of interest for a similar debl inslnxnenL Cwrent assets and current liabililies we subsequenuy m&isured at the cash er other eonsideratsn expected to be paid or received and nol ￿se¢￿ted. Debt instruments are Subseq￿}￿ measured at amottsed ¢ost. 3 Income fr¢>m donations and legacies Totsl 2023 Total 2022 Gener4 Restricted Donatiorfs Grants 1.8n 1.872 606.632 4.281 606.632 1.872 606.632 Total for 2022 5261 353.668 358.929 VirtUO19gfthro Tr*S*￿TrA•f HKS2.2NlI￿ 14 Dee2W 1*41%7 IJIT(urc +0> LI 112 P2Y42 Tyne And Wear Building Preservation Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2023 4 Income from charitable activities Unrestricted funds General Total 2023 Miscellaneous Income Old Low L￿h1 Bultress House Contribution twdrds irtswance Okl Low Lwht 10,550 10,510 10,550 10,510 82.060 1.706 1.833 13,771 5.000 2,917 4.249 132.602 1.706 1.833 13,777 Blackldl Sl Hilda's High Streel West 2.917 4249 132,602 Unrestrlcted nds Tolal 2022 Miscelaneous IrKome Old Low Light Adernmn FenwK*'$ H(xBe 16.434 8.758 1.025 78.981 16,434 8,758 1.025 78.981 1.$09 2,242 4,475 5.CKIO 7.511 16,950 142,885 Contribution towards Insur￿ Old Low Light 2242 4.475 ContritrAitM towards Hith Street West Lwts Blackfell St HiEda's John MaW Centre 7511 142.885 5 Other income Unrestricled Total 2023 Totsl 2022 Buttress House Insur￿ ¢laTh Gains on sae dtaryible fixed assets 325 325 14.273 325 325 14.273 val&gnw*JittTws*iThi Ref HKS2.2P*&R35H 14 2023 1*41.51 Gwfiurc +010 1Q P 2 Tyne And Wear Building Preservation Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2023 6 EXpen￿rt￿ on ¢h•rilabl¢ aclivilies ivity undertaken supwl diredly 2023 2022 Aklennan FenwTc*'s l John Marfey Centre Runniry Costs Renlal properbes nnryr¥J costs HDT Base S¢heduled Mcmwnents St Hilda's Other Direcl Chwilaue Expendi￿re Feasibilty sludies High Street West High Street West. TyTe s￿ Catwe ma￿et Gateshead Riverside 20,659 7.354 49.596 43,973 27,918 53247 47,SlXI 17,943 19.540 53.247 47.SCO 17.943 19.540 78.937 78.937 65.361 33.525 361,316 129,989 221 37.011 100,460 45.157 213,100 65.361 33,525 361.316 129.989 221 18,279 37.011 115.948 29.082 555.578 728.642 Total 2022 2023 Ahjemwn Fenwi¢Y$ l Jd Marfey Centre Runniw Costs Rental W'es Rum¥vJ 20.659 53.247 53247 47.9)0 17.943 19.540 65.361 33.525 361.315 129.989 HDT Base Scheduled Monuments St Hilda's Feasiblty S￿dieS High Street West High Street West. Tyre SF Cattle Marf(et Gateshead Rivers*Je S4yJrt costs 47,500 17.943 19.540 65.361 33,525 361,315 129.989 49,596 43.973 27.918 45.157 206.300 18.279 115.948 115.948 129.542 169.417 675.173 548.TT8 TE￿2•￿￿￿•f HKS2QNRG4139114 O*>23 15AI.S1 Gllf ILrrc 401 D 112 P 21142 Tyne And Wear Building Preservation Trust Limited Note5 to the Financial Statements for the Year Ended 31 March 2023 7 Anatysi¥ ol govemance and support costs Raising funds eit￿re Total 2023 Total 2022 ¢o$ts 56,095 1.378 1.112 302 1.076 1.849 77.233 1,410 1.129 179 Communicalions and Depreciatson Finar*e ¢osts Lease of copier Insurance Rates & wattr Olher office costs Other motorltravel costs Repairs and maintenan¢e 1.240 1.OD1 272 138 111 185 627 9.457 1,321 7,499 17.833 3,930 4.954 10,303 4.210 11,447 4.210 1320 21.466 4.500 9.097 232 21,466 Audit fees Legal fees 9.097 78.937 37.011 115.948 129.542 its support functions. It then Klentifts those costs which relate to the govemance funclion. Having identified its governance (¥)sts, the remaining Supp￿ costs tts3ether the governance costs are apportioned betrfftn the key charrtaL4e ¥ts"¥rttè$ ufKlertaken fft the par. The basis for apportionment and the ￿al>S19 of sipport and govemw*e e¢sts is set ciated wilh the frrfmer Brer&ley C¢lliery at Seaton N(Jrlh Tyneside. The fully The Old Low Lvjht 15 a Grade 11 IL8ted Buikfjng situated y￿11￿n the ChffLYifs Fort SCI￿d￿led Ancient Monument cn the NLYth Shiekls Fish Quay. The budd￿￿ was wvjinalty used to house a navigation Iwht in laler years Wds as a ths houses and then as a fish pr¢xessing plant. The propety is fulty let. V#i￿ls9na1We Tws•JN•Ro1 HKS2.214RftrR35H 14 ￿ >Y23 1541.5TGMTIUWC •OIO Ir2 P 31M2 Tyne And Wear Building Preservation Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2023 Dun$ton St•ths are a schethded An￿ent Monwnent Grade 11 I'skd bJldir&. They were &￿StruCted in late 191h Centwy and V+we used lo h)ad c*)al crti seagoing eolliets on the river Tyne at Dunston. Gateshead. Tl*y are induded in tr* financial Statem￿ at a nil val￿. as the onty current income is a nominal swn for the Dunstan Stailhs sthststion. Whinfield Coke thens al Gll. Gatesh￿ the Bolde Klns at Corbr*e are both S¢heduled Ancient M(muments. Bolh these prwbes are Incl￿ed al c*)st a valuation has not been attempted as svJnrfI￿t costs be iKurred in c**taining a Yalualh)n vh)ith W￿ld be considered to be onerous when cxYnpaTed to tr* addilb)nal benefft achteved. st Hilda's Pit Head is a Grade11 liskd t￿lIjir￿j n s(￿ Shields. Tr* restorati￿ of St Hlda's Pit H¢ad vrds furthd and undertaken *ilh the full urthrslanding that thère VAS a l¥ge &)nseNation defi¢ The property is tet. In October 2016 Lambert Smith Hamptsn, ￿0 are regulated by RICS. ¥al￿d Blackfell Hauler House. AJdem)an Fenwick's H¢xtse. Old Low BUltr￿ Hrwse based on an market basis. On 6th FebnJary 2018. the at 171>175 High Street Wes( swmle￿. V*ve transfeffed to the trust from Ttr￿ c￿￿11 of the Cty of SurK*rfand for the nominal amount of £1. 17(k175 Hbjh St West Sunderfand are a lefface of three trad￿￿￿1 houses that were converted the ground floor for commLYcial use SCA)n after they N*re Given the ec*)thtion of the propwlies on transler, the wo iniliality in¢uThed beirwJ expensed urrtl the Structu￿ was made stable. Subsequenly in the 2020121 year. works commenced vAlh the view of brirvjiry the woperties back into use. The restorati￿ of High Street West vr45 fvrKled •KI WKlert*en With the that there vras a large conservation defiert. A e0nserval1￿ deficit is a situa11c￿ applie$ to hBtoric bU￿ng$ where the cost of Ccrbverting them to a new use is greaiu than the value they woukl have on ccmpletion of the The )nservation deficit 15 the amcwnl Ihat is the drfference. 11 r*eds to be covered by some lorni of inje¢lion of fI￿￿ng in cwder for the develownenl to be viabk. All these Heritage Assets. with exception of Dunston Stailhs have been the subject of Preservation Schemes and are etther ger￿l￿g r￿trI income or recovery of costs. WhEre possible, a¢￿ to the ￿lId1Th￿s for the p￿11¢ is made awlable. In October 2022 Lambert Smith Hwnpton. ￿ are rewlated by RCIS. valwj High Streel West Sundertand, Old Low knghts, Buttess House arKI 1 Cattle Market based on an open mthet basi5. In October 2023 L￿bert Smith Hampkn. rwjated by RCIS. valued Bultress H¢)use based t)n an open market basts. vul￿$￿¥brI Trnr*¢rw Ref HK52Q￿RsR35N 14 ￿￿2) 15"41S7tWt iurc *Q)D 112 P Tyne And Wear Bulldlng Preservatlon Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2023 Summary ol tran&xtions 2023 2022 20X 2020 2019 Purthases and additions Buildings Revaluations 186.970 (31.970) 427.190 170.000 Charge l¢r impaimient BUl￿ng5 Disposals Buihthngs {10.iX#)) 465.847 427.190 969.5)7 1S Flxed xset Investments 2023 2022 other invesknents 809.104 880.109 Other investments Listed inveslmènts Total Cost or Valu*ion Al 1 loril 2022 Revaluali 880,109 71.005 880,109 71.005 At 31 March 2023 809.104 809,104 Net book value At 31 March 2023 809.104 809.104 At 31 March 2022 880.109 880.109 The listed inveslment p￿rf￿lti 15 tr￿Id 8￿y$ UK Pk and represents units held wihin the disuetionary inveslm¢nt ptytrdb) charity f￿￿. The inveslment b4an¢e incwes Ixth m(¥wes invested cash hehl wakiw to be iivested. VIrtu*￿n•￿1r&r￿5¥KffiRQf. FMS24NI4&FIJ5H 14 D•t 2023 1&41J7GIIT (UTC *OID 1QP3Y42 Tyne And Wear Building Preservation Trust Limited Notes to the Financial Statement5 for the Year Ended 31 March 2023 16 Debtors 2023 2022 Trade debtors prepa￿￿ents 13,9C6 11.9C6 146.333 21.927 187 11,450 1.357 Oiher debtors 187 194,262 52,363 Trade deblors indudes a wolision 01 £10.180 (2022: £10.1KI). 17 Cumt assel investments 2023 2022 Listed nvesknwnts 120.000 120.IXM) The Trustees hold £120.000 of Ihe fc4ed a55et investrnenl as a cwrent a55et on the basi5 that as projects are undertaken, th fundry received in alre￿. there may be occasion ￿ere Ihe working capital requires temporary swport ￿￿11 ts fvrKIwvJ 15 $￿SeWe￿Y recaNTd banked. 18 Creditor5: amounts falling within one 2023 2022 Bank loans Trade creditors ' Other taxati¢)n and soeial see4wity VAT repayable Other creditors 21.405 2.531 14.985 19.4ry) 41.582 104.918 25.204 44.738 2022 Herltage Lottery Loan 20.0 loan provided by the Heritage Lottw wo the year was to a totsl value of £120,000, at an itrest rate ol 0%. The I¢￿ perrKI is 5 )tars ￿ the fin￿ repa>Th￿ teing made ￿ 1 June 2027. 31 R41 trNs24N￿R35¥ 14 0￿20?3 15..415T Gmf (Lwfc •OID 112 P34M2 Tyne And Wear Building Preservation Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2023 2023 2022 . Oefeffed inrthie at 1 Ayil 2022 Resour￿$ deferred in Ihe periKI 19.(K13 1.808 19.003 Deferred inc 670.OOD zmo 9.104 100M fkn¢r In￿lments StrethWq* st Hilda's J.1C IOJWbJ (71.OJ5) 8.000 SOMOO 2202.104 Prrywty FL 2.0511C8 98.995 Tot41unmtrf¢tsd 2.141 .99$ 22Z2.082 St Hlda's IStrg• 21 St Hld¥'3 Pthead CBtitM¥kei 19 119.5101 {1299891 91J68 31071 T￿8 And Wur Building Prnservation Trust Llmited Notss lo the Flnanclal Statrments for the Year Ended 31 March 2023 Mcoy*••d at Ji Tr•ro1•rn ykn•l(**•••bl M•r£h 2023 2Q2 HDT BA9e 147XbJ I17￿) {19K61) 3SJ19 5.726 20.&8 9J33 27.309 17.M1 F¢a￿E￿Ity Stith¥ Stre•tW4*t Streetwest. Tyte S (335251 *lJ15 8.Z27 875.1n 13MIT 1W.743 2J22.825 Tyne And Wear Building Preservation Tntst Limited Notes to tho Financial Slatsm•nts for th• Year Endod 31 March 2023 {197J11} 5.9•1 89,421 k1￿1 H*J* H¢NWt 135.OYJ sD)o 140.0 3U,O 2%),0 {20.0￿> 1￿.970 Caid8 Markét 63MJO {1riJ.cwi c¥J 2.000 180.105 1Crf)MOO 95W) 6mO Mher Inve*fflents Str4étW•# Sl Hqda's 947x4 (120.m)I 52M5 10.(YXS 10.( 2.029224 30.915 2,053.1 Tai*l wwMtrlci•d 197911 30.915 2,142.530 StHklA'$ IsbJ• 21 19.510 19YO Caloe base (18279) I49￿} (43An) 751b)J 44.454 aSA19 Tyne And Wear Building Pveservation Trnst Limited Notes to th• Financial Statements for the Year Ended 31 Mavch X123 IW￿l•d •t31 Tr￿1￿ IlwEh 2022 F¢a**ilty Stts Slre4tW•st 14025 {45.157) 5.7Z6 20ffi28 357. 156267 TotslluThl 2281216 5S5.578 30.915 2298.797 nuafyonyiwé Tmn5adw Rql HKS2 2•4AG.R￿ I40￿ ￿ 1541 57tWT11)YC •OID I..? P Tyne And Wear Building Preservation Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2023 Revaluation ReseThE The amount ol uplift li ts Val￿ of Blackfell H&ler Howe k> Is net book value of £S0.IJ)O. Oid Low Light Devdcpment Fund The trustees have Fyovided a designation to ￿ the value of the Old Low Litht Property %*ich is subject lo a conlingent grant repajynent {as detailed in r#)te 251 ptt￿d to the year 2025. After this contingent pertod has elapsed the trustees rbtend to release the dwnaIX￿. eutlress HcAtse. F*gh Street West and St Hilda's Funds have been des•Jnaled in respect of the r*t bc*Jk value of the Herrtage Assets ba515 that these assets are not readity expendible and therefore are exduded Ir(¥n free reseryes. St Hilda's The tNstees ha￿ lo rdleL* ts Val￿ ￿ the St Hldas Pit Head is subject to a corrtrvjenl grant rePa￿ent pertod las detailed ￿ Note 251. After this c4)ntingent period has elapsed the Injstees ¥its￿l to release Ihe Scheduled Monwnents This fund ¢oncerns the Mainten￿ of c￿￿e Brth Kths. Whnfie*J Coke Overts and Blackfell Hauler House. Tr I￿￿ee$ ha￿ deswted £6.0(Kl to reffectthis designation. Feasib￿ty Studies These include opti¢￿ Appraisab and Prqect Development on bull dir￿ n which we do nol ha￿ a legal witerest. The Trust is researctriw Ihe capabilty of Ihese buldirvjs becomry a viable project. HKJh Street Wesl The trustees have prtr4pJed a designation to rellect the of 171%175 High St Wes( Sunderland %thi¢h is subject to a ¢onlingent granl repajmerrt period (as detaw in Note 25). After this Contingent period has elapsed the trustees irthid to reiease the desvJnatI￿. The Trust was n receipt of funth received Ma the Herilage L• to supwxt the projects through Ihe pandemic. HDT Base The Tntsl 1$ (Y￿ of seven pik)t hentage de¥ekynent Injsts in Eryland and is recepiww a grant. over a three year period, thr￿ the ￿Chitectural Hefrtage Fund to expand ils actpths arrfl become a more suslaN￿le wisatson. Prcyety Awisrfion FLfftd The tNstees had des¢gMl•J £50.LKKI in regards to potsntAI ac(vis￿ of nffiv by Ihe charity. T￿sathn R•f XK52QNR&R3&1 14 DeG1023 15.4157 GMT IVTC •OIO 112P4CW2 Tyne And Wear Building Preservation Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2023 22 Anatysis of net assets betrKen funds Totsl fvnds at 31 March 2023 Designated Re5tricled Tangible fixed assets Herrlage assets Fixed asset iwesknents Net ¢uThenl assetsllliabililies) Cfeditors over 15 Tot￿ nel assets 1343 2.343 1.307.(KIO 809,104 304.378 100.wo 2.322.825 1.307.OIXI 809.104 117.635 1LKI.000 19.978 IIXl.743 2201104 11J),743 Total funds at 31 March 2022 Tangible fixed assets Heritage assets Fixed asset fftveslmerts Net current assetsllli*libes) Total net assets 3.455 3.455 1.137.000 880.109 278.233 1298,797 1.137,000 880.109 156,267 156.267 89.421 2.053.109 23 Analysis ol n•1 funds At1Aw 2022 Financing cash flows At 31 March 2023 New loans Cash at bank and in h•KI Debt due Ithin one year Debt due aftw more Ihan ¢)ne year 125.451 {30,417) 95,034 {20.0001 {20,(￿) (100.000) (100.0001 120.000 95,034 120.tXM) Net debt 245.451 30.417 120.ODO At 1 Awil 2021 Financing cash flovts New loans At 31 Mar¢h 2022 Cash at bank in hand Cuffent asset inveslments 319,480 (191.029) 120,0(KI 74,029 125.451 120.000 Net debt 245,451 Vlrt¥alSlwt￿1èTms3elul Ref HKS2QWRG 44 ￿XI23 1541￿1 W ¢￿e •OIO IQ P41 Tyne And Wear Building Preservation Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2023 24 Financial instruments Categ0ri5ation of fmanci•l instrw 2023 2022 Financial assets mthiswed at f*r value 929.104 1,025,266 The financial assets measured at far Yalue rdaie to the in￿ents held Bard4s th* ar¢ hehl at fair value. 25 Contingencies from North Tyne5ide CowKil totalling £297.742. was spent as part of the refU￿1$hment on the Old Low knght propefty. Thi5 restricted inc4Jme wa5 gNen with a ts￿ve year ¢la%thk clause. The da%￿a¢# is subj.ect to a dause vthich is enacled rf the propety 15 disposed of at greater than the Conservation Deficit Scheme vath {detaed on the grant davn form) and would require repayment of Prowtion of £297.742. up to Ihe full amount deperthnt Upc￿ sale price at disposal. The lrnstees have ￿nSIdere{l this and vknilst Ihey do not intend to disptise of the prowty. once this tr￿1Ve year period has elapsed in 2025. the propety was dispwd at a ltswer value, the contingent liabilty w)uld cease. A grant was received frcm HIStu￿ Engl¥•J for at Ihe Bolue Kilr￿ in Ithich, as part of the conditions of the gran( the Tntst agreed b enter irto a 10 s￿r maintenance agreement. The maintenance works invdved n tr* agreern￿I are in vdth the charrlthe athrbes of the Trusl. However. should Ihe VK)ths not be comF4eted and rep￿tsd to trrt ￿t provider wthii the time s¢ales included wihin the agreemert then Ihe grant may be repayable to grant provtder. 01 the High Street West Reslrthd InC￿e reeab*d dwing ils rest¢xation$. an amount of £350,000 of the monies recewed is repayable thin three years cl the ffinal payTrent received (expected November 2021} shoukl Ihe property te d￿poSed. The davknack is subject to a dause thich ￿ on enacted rf the propety is disposed of at geater the c{￿SerVat￿ Defiut Scheme value Idelaiw the grant clavn fomil and w)ukl reqU￿e rePa￿￿ent ol a woytion Lrf £350,000, up to the full arn￿nI deFendenl twi at di¥osal. The lJuslee$ have ccnsidered this and whilst they dD not intend to dispose of tr* prcyety, cffice Il¥s Ihree peri¢xJ has elapsod in 2024. OT rf the operty was disposed al a lower vaue, Ihe ¢(thgenl liabty w)uhl cease. The St Hikla's reslrricted In0)Th￿ Vecei￿1 durwvj its restorations. created by reeelpt of fundftvj from The Heritage Lottery. vrds given wlth a ten yEar d￿k>ack agreed wthin the frJndiThJ agreement. The dathck is subject tt) a clause which is onty enaded rf the property is (ksFos&J of at greater than the ConseThation Oeficit Stheme value Idetsd. ed OD Ihe grant clayn fwml and would require repayTnenl of proportion of granl. up to the aMO￿t dependent uw)n sale at disposal. The trustees have considered this and %thiL%t ¢** nol rbtend to dwose of the property. once Ihis ten year period has elapsed in 2028. or rf the property was disposed at a lty¥er value. the contingent liabiltty would ￿4$¢. A ¢harye is hekl over the woperty by tr* Heri* Lottwy. Rel ￿24NR&R3&l 14 Oec202J 15."415?tWTILITC¥ty 0 1r2 P4V42 Tyne And Wear Building Preservation Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2023 26 Related party transactions Azets Simon Brovm. tr￿ HOr￿rary Treasurer of the Tntst is a pwtier vrith Azets (weviowly MHA Tait Walker). DuriNJ the Azets wovKled •KI •JM1nthtp￿ foT fees of £18.688 {2022- £15.346). At ts balance sheet d* the amrymt *Jth Azets was £NI (2022 . £NI). TNstees During the ￿ar the Trust paMI fu YKlemnty insuran¢e (m behawof the TnJs*es of ￿ am(NJ￿ of £922 (2022- £922). At the balaKe sheet date the •TKXrt l(th(xn T￿￿￿0$ £Nil (2022. £W).