Company registrdtlon number: 2319737
Charity registration number: 800904
Somerset Building Preservation Trust
(A company Ilmited by guarantee)
Annual Report and Financial Statements
for the Year Ended 30 June 2024
WESTCOTTS
CHARTERED AC¢OIINTANTS
& BUSINESS ADVISERS

Somerset Building Praservation Trust
Contents
Reference and Administrative Details
Trustees, Report
2to4
Independent Examinerfs Report
ststement of Financial Activrties
Balance Sheet
7t08
Notes to the Financial Statements
9t017

Somerset Building Preservation Trust
Reference and Administrative Details
Chaimian
Mr P Stow
Trustees
Councillor M Lovell
Mrs A Manders
Mr A Duckworth
Mr N Jones
Mr P Stow
Mr R M Slokes
Mr D G H Gordon
Councillor A Grimes
Dr J Prideaux
Mr G Venn
Mr J Holyday
Mr P Richold
Counclllor T Kerfey
Mrs J Boyd-Brent
Secretary
Charlty Registration Number
800904
Company Reglstratlon Number 2319737
The chaiity is incorporated in England and Wales.
10 St Medard Road
Wedmore
Somerset
BS28 4AY
Registered Office
Independent Examiner
Westcotts
7 Castle Street
Bridgwater
Somerset
TA6 3DT
Page 1

Somerset Building Preservation Trust
Trustees. Report
The trustees. who are directors for the purposes of company law. present the annual report together
with the financial statements of the charitable company for the year ended 30 June 2024.
Objectives and activities
Objects and aims
The objects of the trust are the preseNation of buildings of archit8Ctural and historic intèrest in
Somerset that would othe￿ise be lost through dilapidation and neglect.
The trust has continued to deliver public benefit with its involvement in the 9 Fore Street, Chard
project.
Public benefit
The trustees confimi that they have complied with the requirements of section 17 of the Charities Act
2011 to have due regard to the public benefrt guidance published by the Charity Commisslon for
England and Wales.
Achievements and perfomian¢e
A review of the activities and achievements of the trust in the year is disclosed in the Chairman's
statement below.
Chainnan's Statement
The financial year commenced under the Chaimianship of Russell Lillford ( Co founder of the Trust in
1988) with Patrick Stow as nominated Vice Chairman. The Trust continued to be under the guidance
and expertise of the Company Secretary, Jane Boyd Brent. These first few weeks of the financial year
were difficult for all parties as by then Russell was in very poor health and subsequently passed away
in early August. His funeral was really very well attended and he was a true pillar of the Conservation
community, now very sadly missed.
The Trust's sole project, No 9 Fore Straet Chard at this time had entered a difficult stage of trying to
obtain grant aid to enable first ald repairs and gain an understanding of the buSlding whilst
simultan80usly compiling a Viability Appraisal prepared by Carrie Blogg totally funded by the
Architectural Heritage Fund with a deadline for submlssion being end February 2024.
Considerable amounts of voluntary work were provided by members of the Trust Board and the hjo
newest Truste8s Greg Venn and Paul Richold brought vital specialist expertise and knowledge of the
building to the fore for this report stage.
The Viability Report was effectively expanded by the introduction of Thread Architects to undertake a
building analysis which led into the applications for multiple Historic England High Street Heritage
Action Zone grant aid which initially required 300/0 match funding. In the event the Trust was able to
complete five significant small projects to better understand the building, provide building envelope
repairs to make it watertight coupled with Project Management fees nearly 811 of which became fully
funded. the total grants baing some £15k for the AHF Reports and £65k for the Building aspects and
£3k from Chard Town Council grant for the Business Valuation all which the Trust is immensely
grateful to have received. This work was all completed by March 2024 as required.
The outcome of the findings as above plus a number of well informed visitor inspections coupSed with
further discussions with Historic England through the year established the need to further explore a
possible partnership arrangement with the Landmark Trust in respect of use of the whole or part of the
building. This discussion continues but has had to be advanced by a further detailed study.
Page 2

Somerset Building Preservation Trust
Trustees. Report
The Architectural Heritage Fund selected No g Fore Street as a suitable project, nationally, to offer the
possibility of providing a Project Development Grant to tske a selected option to preliminary design
stage RIBA 2. The deadline for this project submission is March 2025. The need to get competitive
quotes for an Architect led team of consultants to meet this brief within a total ring fenced budget of
£82.5k plus VAT proved to awaken considerable national interest. In early Spring 2024 the Trust
appointed Trevor Humphreys as an independent Project Manager to oversee the contract
administration for this important phase of funded work, with our Secretary Jane being placed in the
position of Project Co-ordinator. Qver 55 expressions of interest where received for the Tender
Documents resulting in ten submitted bids all of high quality each firm having visited site first with
individual guided tours required. The short list of three candidates were subject to interview by a panel
of five people from the client side and we were treated to impressive performances. The finally
selected firm Thread Architects has now commenced work and visits with the various sub consultant
are being planned.
ConGurrently 2023 formed a year for the William Stansell Historic Building Award scheme which
required site visits of some 14 entrants. 450 miles covered in three days followed by the Judges
assessment and a final Awards Ceremony at the Somerset Rural Life Museum for the invited guests
in September 2023. This highly prestigious scheme is sponsored entirely by the family trust in
connection with Stansells of Taunton and this is a very significant contribution from Tauntfield Ltd
which is much appreciated. A special occasional category of award was created in honour of the late
chaimian being The Russell Lillford Award for Outstanding Historical Research which was award to
the Tonedale, Wellington Project Team.
The AGM in October 2023 held in the Guildhall In Chard was well attended and at that meeting
Patrick Stow was elected as Chalrman of the Trust.
The increase in workload for our Secretary who also has the task of running actlvities for the
subscribing members arranged a tour of Weycroft Hall, Near Axmlnster in hlay 2024 which was very
well attended and enjoyed by some 40 people. Other activities have included guided visits around 9
Fore Street to other professionals and conseNation experts including SPAB and SAHNS.
The additional aspect of the No 9 Project Co-ordinator role showed how stretched the day a week
Secretary role had become and in parallel to all the above discussions and applications were made to
Historic England for a Building Capacity Grant which eventually culminated in a grant of £25k for the
year ending March 2025. A substantial amount of this grant will actually be swallowed up in the match
funding required to service the AHF Project Development Grant. Also Taunffield Ltd fallow year grant
of £3k
The family of the late RLJssell Lillford have been most supportive of the Trust and after probate was
granted the Trust reGeived a legacy payment of £10k for ￿lch the Trust is immensely grateful.
In addition to all the activities listed above, the Trust has been contacted on numerous occasions for
advice and guidance to other similar bodies extending to an invitation to partake in another interesting
but difficult project. Currently the SBPT is in discussion with Somerset Council in this respect and it is
likely that other building prajects will surface for our attention.
The changes and expansion of workload has not only created additional dernands on staff and
volunteers but also highlighted the need to review our adviser base and in this respect wa have
changed fimi of Accountants to Westcotts now as the previous fimi Chalmbers HB had wished to
wilhdraw due to retirerrent. Furthermore, there is now a need to investigate the Gurrent model of the
Trust and establish how best a refocussed approach to property conservation and possible ownership
issue might be run on a rnor8 commercial basis. This exploration is ongoing.
Page 3

Somerset Building Preservation Trust
Trustees. Report
In summary the Trust is vibrant, progressive Ou￿ard looking and dynamic which has been reflected in
the astonishing amount of support received from exlemal sources and it is imperative that this
momentum be continued even in the face of adversty. financial hardships and challenges. The Trust
has proved with its impressive track record to date that these objectives can be met. it is just a
question of will and when.
Financial review
The results for the year and the charivs financial position at the end of the year are shown in the
attached financial statements.
Policy on reserves
The trustees seek to maintain reserves at a level that will enable the operational activities of the Trust
to continue for the foreseeable future.
Structure, governance and management
Nature of govemlng document
The organisation is a charitsble company limited by guarantee. incorporated on 21 November 1988.
The company is governed by the Memorandum and Articles of Association which established the
objects and powers of the charitable company. The trust is registered as a Charity with the Charity
Commission.
The trustees, who are elected under the temis of the Articles of Association. determine the gene￿1
policy of the Company and all major management matters.
Recrultment and appolntment of trustees
The Board of Trustees keeps the skill requirement for the Trustee Body under review 2nd the
induction process for any newly appointed trustee comprises an initial meeting with the Chair and
Board of Trustees.
New trustees are given the relevant documentation conceming the Trust to enable them to fulfil their
role as a trustee.
Small companies provision statement
This report has been prepared in aG¢Ordan￿ with the small companies regime under the Companies
Act 2006.
The annual report was approved by the trustees of the charity on 15 October 2024 and signed on its
behalf by..
Mrs J Boyd-Brent
Company secretary
Page 4

Somerset Buildlng Preservation Trust
Independent Examiner's Report to the trustees of Somerset Building
PrpsprvAtinn Trii.st ('the Company.)
I report to the charity trustees on my examination of the accounts of the Company for the year ended
30 June 2024.
Responslbilities and basls of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you
are responsible for the preparation of the accounts in accordance with the requirements of the
Companies AGt 2006 {'the 2006 Act,).
Having satisfied myself that the ac(x)unts of the Company are not required to be audited under Part
16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination
of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Aci.).
In carrying out my examination I have followed the Directions given by the Charity Commission under
section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection
with the examination giving me cause to believe:
1. accounting records were not kept in respect of Somerset Building Preservation Trust as required
by section 386 of the 2006 Act., or
2. the accounts do not accord with those records., or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act
other than any requirement that the accounts give a 'true and fair view which is not a matter
considered as part of an independent examination,. or
4. the accounts have not been prepared in accordance with the methods and principles of the
ststement of Recommended Practice for accounting and reporting by charities lapplicable to
charities preparing their accounts In accordance with the Financial Raportlng Stsndard
applicable in the UK and Republic of Ireland (FRS 102)].
I have no concems and have come across no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understanding of the
acGounts to be reached.
Tara Bell
CTA ATT (fellow)
7 Castle Street
Bridgwater
Somerset
TA6 3DT
15 October 2024
Page 5

Somerset Building Preservation Trust
Statement of Financial Activities for the Year Ended 30 June 2024
(Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestricted
funds
Restricted
funds
Total
2024
Total
2023
Note
Income and Endowments from:
Donations and grants
Investment income
Other inGome
19,025
1.871
2.486
79.296
98.321
1.871
2,486
800
2,480
2,060
Total income
23,382
79,296
102,678
5,340
Expenditure on:
Raising funds
Charitable activities
{23,238)
{10.240)
{23,238)
(77,836)
{17,972)
6,949)
(67.596)
Total expenditure
Gainsl{losses) on
investment assets
{33.478)
{67,596)
(101,074)
(24.921)
991
991
(1.728)
Net {expenditure)lincome
Net movement in funds
(9,105)
11,700
2,595
(21,309)
(9,105)
11,700
2,595
{21.309)
Reconciliation of funds
Totsl fvnds brought forward
84,683
3,075
67,758
89,067
Total funds carried fonNard 14
55,578
14,775
70,353
67,758
All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2023 is shown in note 14.
The notes on pages 9 to 17 fomi an integral part of these financial statements.
Page 6

Somerset Building Preservation Trust
(Registration number: 2319737)
Balance Sheet as at 30 June 2024
2024
2023
Note
Fixed assets
Intangible assets
Investments
10
16.306
16,343
32,649
17,015
30.352
47.367
Current assets
Debtors
Cash at bank and in hand
12
222
39.539
322
23.557
39.761
23.879
Creditors: Amounts falling due within one year
Net current assets
13
(2.057)
(3.488)
37.704
20,391
Net assets
70.353
67,758
Funds of the charity:
Restricted income funds
Restrtcted funds
14.775
3,075
Unrestricted income funds
Unrestricted Funds
55.578
64,683
Total funds
14
70.353
67.758
For the financial year ending 30 June 2024 tha charity was entitled to exemption from audit under
section 477 of the Companies Act 2006 relating to small companies.
Directors, responsibilities:
The members have not required the Gharity to obtain an audit of its accounts for the year in
question in accordance with section 476; and
The directors acknowledge their responsibilities for complying with the requirements of the Act with
respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance vAth the special provisions relating to
companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The notes on pages 9 to 17 form an integral part of these financial statements.
Page 7

Somerset Building Preservation Trust
(Registration number: 2319737)
Balance Sheet as at 30 June 2024
The financial statements on pages 6 to 17 were approved by the trustees, and authorised for issue on
15 October 2024 and signed on their behalf by:
Mrs A Manders
Trustee
Mr P Slow
Chairman and trustee
The notes on pages 9 to 17 form an integral part of these financial ststements.
Page 8

Somerset Building Preservation Trust
Notes to the Financial Statements for the Year Ended 30 June 2024
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not
have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards
the assets of the charity in the event of liquidation.
The address of its registered office is:
10 St Medard Road
Wedmore
Somerset
BS28 4AY
These financial slatements were authorised for issue by the trustees on 15 October 2024.
2 Accounting policies
Statement ol compliance
The financial ststements have been prepared in accordance with Accounting and Reporting by
Charities: Ststement of Recommended Practice {applicable to charities preparing their accounts in
accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102)) (issued In October 2019) - (Charities SORP {FRS 102)), the Financial Reportlng Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparatlon
Somerset Building Preservation Trust meets the definttion of a public benefit entity under FRS 102.
Assets and liabilities are initially recconised at historical cost or transaction value unless othe￿iSe
stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the chaiivs ability to continue as
a going concem nor any signifiGant areas of uncertainty that affect the Garrying value of assets held by
the charity.
Page 9

Somerset Building Preservation Trust
Notes to the Financial Statements for the Year Ended 30 June 2024
Income and endowments
All income is recognised once the charity has entitlement to the income. it is probable that the income
will be received and the amount of the income receivable can be measured reliably. It is probable that
the economic benefits associated with the transaction will f]ow to the charity and the amount can be
reliably measured. The following specific policies are applied to particular categories of income:
InGome from donations or grants is recognised when there is evidence of entitlement to the gift.
receipt is probable and its amount can be measured reliably.
LegaGy income is recognised when receipt is probable and entitlement is established.
Income from donated goods is measured at the fair value of the goods unless this is impractical to
measure reliably. in which case the value is derived from the cost to the donor or the estimated resale
value. Donated facilities and services are reGognised in the accounts when received if the value can
be reliably measured. No amounts are included for the contribution of general volunteers.
Incorne from contracts for the supply of services is recognised with the delivery of the contracted
service. This is classified as unrestricted funds unless there is a contractual requirement for it lo be
spent on a particular purpose and returned rf unspent, in which case it may be regarded as restricted.
Investment income
Dividends are recognised once the dividend has been declared and notification has been recesved of
the dividend due.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of financial
activities to which it relates:
Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable
trading activities. and the sale of donated goods.
Expenditure on charitable activities includes all costs incurred by a chartty in undertaking activities
that further its charitable aims for the benefit of its beneficiaries, including those support costs relating
to the governance of the charty apporlioned to charitable activities.
Other expenditure includes all expenditure that is neither related to raising funds for the Gharity nor
part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
between the activities they contribute to on a reasonable, justifiable and consistent basis.
Intangible assets
Intsngible assets acquired as part of a business combination are only recognised separately from
goodwill when they arise from Gontractual or other legal rights, are separable, the expected future
economic benefits are probable and the cost or value can be measured reliably.
Page 10

Somerset Building Preservation Trust
Notes to the Financial Statements for the Year Ended 30 June 2024
Amortlsation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful life of that asset as follows..
Asset class
Leases
Amortisation method and rate
amortised over the length of the lease
Pensions and other post retirement obligations
Contributions to defined contribution plans are recognised as an expense in the period in which the
related serviGe is provided. Prepaid contributions are recognised as an asset to the extent that the
prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting
date in which the employees render Ihe related servi￿, the liability is measured on a dI￿OUnted
present value basis. The unwinding of the discount is recognised as an expense in the period in which
it arises.
Flnancial instruments
Classification
Financial assets and financial liabilitles are recognlsed when the charity becomes a paty to the
contractual provislons of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the charity after deducting all of its liabilities.
3 Income from donations and legacies
Unrestricted
funds
General
Restricted
funds
Total
2024
Donations and legacies.
Donations and grants
Legacies
9,025
10,000
79.296
88.321
10.000
19,025
79,296
98,321
Unrestricted
funds
General
Total
2023
Donations and legacies,.
Donations and grants
800
800
800
Page 11

Somerset Building Preservation Trust
Notes to the Financial Statements for the Year Ended 30 June 2024
4 Investment Income
Unrestrlcted
funds
General
Total
2024
Interest receivable and similar income"
Interest reGeivable on bank deposits
Other investment income
414
1,457
1.871
414
1.457
1.871
Unrestricted
funds
General
Total
2023
Interest receivable and similar income:
Interest receivable on bank deposits
Other Investment income
666
1,814
2,480
666
1,814
2,480
5 Other income
Unrestricted
funds
General
Total
2024
Members, fees
Rental income
1,361
1.125
1,361
1,125
2,486
2,486
Unrestricted
funds
General
Total
2023
Members. fees
Rental income
1.485
575
1.485
575
2.060
2.060
Page 12

Somerset Building Preservation Trust
Notes to the Financial Statements for the Year Ended 30 June 2024
6 Expendlture on charitable actlvitles
Unrestricted
funds
General
Restricted
funds
Total
2024
Fore Street expenditure and amortisation
Independent examination and pa￿011 f￿S
Promotional expenses
6.990
1.341
1.909
67.596
74,586
1,341
1,909
10,240
67,596
77.836
Unrestricted
funds
General
Total
2023
Fore Street expenditure and amortisation
Indep8ndent examination and pa￿011 fees
5.466
1.483
1,483
6,949
6,949
7 Trustees remuneratlon and expenses
No trustees. nor any persons connected with them, have received any remuneration from the charity
during the year.
No trustees have received any other benefrts from the charity during the year.
8 Staff costs
The aggregate payroll costs were as follows:
2024
2023
Staff costs during the year were:
Wages and salaries
Pension costs
18.116
567
12,626
1,130
18,683
13,756
The monthly average number of persons (including senior management I leadership team) employed
by the charity during the year was as follows:
2024
No
2023
No
Administrative staff
1 (2023 - 1) of the above employees participated in the Defined Contribution Pension Schemes.
Page 13

Somerset Building Preservation Trust
Notes to the Financial Statements for the Year Ended 30 June 2024
9 Taxatlon
The charity is a registered charity and is therefore exempt from tsxation.
10 Intangible fixed assets
9 Fore Street
lease
Total
Cost
At 1 July 2023
17.724
17.724
At 30 June 2024
17,724
17.724
Amortisation
At 1 July 2023
Charge for the yaar
At 30 June 2024
709
709
709
709
1,418
1,418
Net book value
At 30 June 2024
16,306
16,306
At 30 June 2023
17,015
17.015
11 Fixed asset Investments
2024
2023
Other investments
16,343
30,352
Page 14

Somerset Building Preservation Trust
Notes to the Financial Statements for the Year Ended 30 June 2024
Other investments
Listed
Investments
Total
Cost or Valuation
At 1 July 2023
Revaluation
Disposals
30,352
991
(15.000
16.343
30,352
991
(15.000)
At 30 June 2024
16.343
Net book value
At 30 June 2024
16.343
16,343
At 30 June 2023
30,352
30,352
All investments shown above are held at valuatlon
12 Debtors
2024
2023
Prepayments
222
322
13 Creditors: amounts falling due within one year
2024
2023
Other creditors
Accruals
1,150
2,338
2.057
2.057
3.488
Page 15

Somerset Building Preservation Trust
Notes to the Financial Statements for the Year Ended 30 June 2024
14 Funds
Balance at I
July 2023
Incoming
resources
Resources
Balance at
expended 30 June 2024
Unrestricted funds
General
General Funds
64.683
23,382
(32,487)
55.578
Restricted funds
Bishop's Barn. Wells
9 Fore Street, Chard
3,075
3.075
11.700
79,296
(67,596
(67.596)
3.075
79,296
14,775
Total funds
67.758
102.678
100,083
70,353
Balance at 1
July 2022
Incoming
resources
Resources
Balance at
expended 30 June 2023
Unrestrlcted funds
General
General Funds
85.992
5.340
(26,649)
64,683
Restricted funds
Bishop's Bam, Wells
3.075
3.075
Total funds
89,067
5,340
26,649
87,758
The specific purposes for which the funds are to be applied are as follows:
The Bishop's Bam. Wells project has been completed leaving a balance in the restricted fund.
During the year a number of grants were received for the projeGt al 9 Fore Street, Chard for works
including asbestos removal, roof repairs and other works. This also included grants for viabiltty
appraisals and project management. At the end of the year a grant was received for the staff costs of
running the 9 Fore Street project to be spent during the next financial year.
Page 16

Somerset Building Preservation Trust
Notes to the Financial Statements for the Year Ended 30 June 2024
15 Analysis of net assets between funds
Unrestricted
funds
General
Total funds
at 30 June
2024
Restricted
funds
Intangible fixed assets
Fixed asset investments
Current assets
Current liabilities
16,306
16,343
24.986
(2,057)
16,306
16.343
39,761
(2.057
14.775
Total net assets
55.578
14.775
70.353
Unrestricted
funds
General
Total funds
at 30 June
2023
Restricted
funds
Intangible fixed assets
Fixed asset investrnents
Current assets
Current liabilities
17,015
30,352
20.804
(3.488
64.683
17,015
30,352
23,879
{3,488)
67,758
3,075
Total net assets
3.075
Page 17

Somerset Buildlng Preservation Trust
Detsiled Statement of Financial Activities for the Year Ended 30 June 2024
Total
2024
Total
2023
Donatlons and grants
Legacies and bequests
Grants
Donations
10,000
79,296
9,025
98.321
800
Investment income
Interest on cash deposits
Income from other investments
414
1.457
1,871
666
1,814
2.480
other Income
Rent
other income
1,125
1 ,361
2,486
575
1.485
2,060
Ralsing funds
Administrative stsff salaries
Pension costs
Travelling expenses
Insurance
Printing, stationery and office costs
Subscriptions
Visits and AGM expenses
118,116)
(567)
(12,626)
{1,130)
(153)
(802)
(2,036)
(100)
1,125)
17.972)
{871)
(2,513)
(100)
11,071
{23,238
Charitable activities
Governance Costs- Independent Examination fees
9 Fore Street expenditure - restriGted
9 Fore Street expenditure
Promotional expenses
Amortisation on 9 Fore Street lease
(1,341)
{67,596)
(6,281)
{1,909)
709
(1,483)
(4.757)
709)
6,949
(77.836)
This paga does not form part of the statutory financial statements.
Page 18