2025-06-30-accounts

Company registration number: 2319737 Charity registration number: 800904

Somerset Building Preservation Trust

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 30 June 2025

LA WESTCOTTS CHARTERED ACCOUNTANTS & BUSINESS ADVISERS

Somerset Building Preservation Trust

Contents

Reference and Administrative Details 1

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Trustees’|Report|2105| |Independent|Examiner's|Report|6| |Statement|of|Financial|Activities|7| |Balance|Sheet|8|to|9| |Notes|to|the|Financial|Statements|10|to|18|

----- End of picture text -----

Somerset Building Preservation Trust

Reference and Administrative Details

Chairman Mr P Stow Trustees Councillor M Lovell Mrs A Manders Mr A Duckworth Mr N Jones Mr P Stow Mr R M Stokes Mr D GH Gordon Councillor A Grimes Dr J Prideaux Mr G Venn Mr J Holyday Mr P Richold Councillor T Kerley Denny Piers Secretary Ms J St John Webster Charity Registration Number 800904 Company Registration Number 2319737

The charity is incorporated in England and Wales. Registered Office 10 St Medard Road Wedmore Somerset BS28 4AY Independent Examiner Westcotts 7 Castle Street Bridgwater Somerset TA6 3DD

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 and auditors’ report of the charitable company for the year ended 30 June 2025.

Chairman's statement

The annual statement is prepared and delivered by the Chairman of the Somerset Building Preservation Trust and records the principal events for the financial year under review which ended 30th June 2025 plus an indication of progress made subsequently with outline plans for the forthcoming year and beyond.

The year 2024/2025 commenced with myself, Patrick Stow, as Chairman and a Board of Trustees with Jane Boyd-Brent (now Jane St John Webster) as our part time employee acting as Company Secretary and Project Co-Ordinator.

The commencement of the new financial year, July 1st 2024 saw the start of a number of important visits by various disparate parties to No 9 Fore Street, Chard, the Trust's flagship project. We also welcomed a new person to our Board of Trustees, Namely Nigel Jones who brings a wealth of experience in connection with property acquisition and an extensive Estate Agent background. Strengthening the Board is a key element in a successful enterprise and we rely so heavily on members’ volunteer efforts within their speciality and when their time comes as inevitably it does in a building repair cycle project then such expertise is so very worthwhile and much appreciated, thank you.

Amongst the visitors to No 9 we welcomed previous occupants including one as a child from the 1950’s and her memories and other contributors have been captured as oral history snapshots, invaluable moments indeed. The amount of data and footage on our cloud based information system is growing significantly.

The story of this property as it builds becomes more exciting especially when a programme of physical opening up the fabric proceeded late in the year to reveal two previously undetected Ham stone fireplaces, a doorway with its door still present and some wall paintings of great interest. This last has prompted visits by key national specialists and they pointed to the need for further investigation and conservation work. We also commissioned and obtained a dendrochronology expert who sampled a number of timbers and pronounced a provisional felling date of exactly 1554 which is Henry VIII era and then just the start of Elizabeth 1’s reign. A building then clearly of note. Meanwhile and by the end of March 2025 our esteemed Architects THREAD of Wellington had completed their work funded by the AHF to provide a scheme to the end of RIBA Stage 2 which sets out the preferred option for the building layout which could then be submitted for further consideration in the Planning process. We have commenced a pre-App discussion with Historic England and we are very excited by this scheme layout which at long last offers a comprehensive and flexible initiative with real scope for success on many fronts.

Page 2

Somerset Building Preservation Trust

Trustees’ Report

Discussions with potential partners in a future scheme involving transfer of the building ownership are in progress and are expected to take a considerable time before any news is forthcoming, however we remain entirely positive and utterly determined that a successful outcome will emerge from the dust of ages.

Other notable visits to No 9 were that of the top tier management of the Landmark Trust whom we entertained with coffee and cake for their tour of the now somewhat disrupted No 9 with the floor boards up in places, patches of plaster removed and the discoveries we had made, plus the absolute mountain of electronic paperwork that we could provide to support the findings made and the schemes intended. We wait to see what transpires.

The Trust was fully committed to the intricacies of the grant seeking and completion of works by deadlines for No 9 and also taking every opportunity to engage with the public wherever possible through local events and the provision of lectures to interest groups.

Preliminary survey work completed in advance of examining a potential additional little project in Nynehead, Wellington had to be put on hold pending major funding decisions by other parties, but we remain hopeful that one day yet another valuable little building may be rescued from the trees that grow within it! Unfortunately we were unable to offer external visits by Members to historic places this financial year, a matter we seek to correct for the year to come. Financially the Trust is holding its own, just, through the shear diligence of our Secretary and some astute advice obtained via the THREAD Consultants to whom we convey our very grateful thanks indeed for their enthusiasm, encouragement and innovative thinking.

In summary, a good financial year, with much progress on your behalf, a lot of which is not obvious even to the keen eye but nonetheless exists in terms of goodwill, energy, reputation and efficiency and | commend everyone’s efforts to that end and thank all participants on your behalf most sincerely.

Since then the story continues......

We have welcomed a further new member to our Board, Councillor Steve Ashton who has exhibited a keen interest in our activities and he brings very valuable historic building knowledge and practical experience to bear in our meetings and visits, so thank you.

We have had unexpected support from several external charities who might appear to be unrelated but the Carpenters’ Fellowship provided clues and contacts which have proved immensely worthwhile to the extent that this lead us to the Vernacular Architecture Group. The VAG has generously provided a grant to enable preliminary wall painting analysis and dendrochronology studies to be undertaken as pointers to further work required in the later stages of this fascinating project development.

Page 3

Somerset Building Preservation Trust

Trustees’ Report

To further the knowledge base and expand our Conservation horizons we are contemplating hosting a Conference for 2026 with the focus on the findings uncovered in No 9 encompassing a very wide variety of topics. Watch this space.

Finally the Members visit to Forde Abbey this summer, was much enjoyed by all, with additional material concerning the repairs schemes carried out demonstrated to the group that the Guides also were fascinated to learn about.

The SBPT has also organised and run the 2025 William Stansell Historic Building Awards Scheme culminating in the Awards ceremony at the Rural Life Museum in Glastonbury where the successful entrants out of 14 entries, were presented with their certificates. The preamble to the Awards was the need for four days in July of tours, some 500 miles, 14 buildings to visit, greet and meet the entrants and hear the back story of how their projects came to fruition. Some of these stories involve serious research over a period, one as long as fifty years before completion and the result, well....the Awards tell all (Look up the entry on the Trust Website).

Thank you all for your support financial, emotional, physical and mental. This whole enterprise is a joy, a worthwhile enterprise that | am sure you will agree deserves not only to succeed but thrive to the extent of engaging a much wider public for their enjoyment and satisfaction. A final thank you to all the Trust Board Members and the Chief Conductress Jane who hammers away at the keyboard relentlessly whilst providing key tour leader roles with great aplomb.

Objectives and activities

Objects and aims

The objects of the trust are the preservation of buildings of architectural and historic interest in Somerset that would otherwise 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 confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Financial review

Structure, governance and management

Nature of governing document

The organisation is a charitable 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 terms of the Articles of Association, determine the general policy of the company and all major management matters.

Page 4

Somerset Building Preservation Trust

Trustees’ Report

Recruitment and appointment of trustees

The Board of Trustees keeps the skill requirement for the Trustee Body under review and 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 concerning the Trust to enable them to fulfil their role as a trustee.

The annual report was approved by the trustees of the charity on ‘~7.J.....50...LE 2sand signed| on |its behalf by:

Company secretary

Page 5

Somerset Building Preservation Trust

Independent Examiner's Report to the trustees of Somerset Building Preservation Trust (‘the Company’)

| report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2025.

Responsibilities and basis 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 Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

| have completed my examination. | 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 Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

| have no concerns 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 accounts to be reached.

----- Start of picture text -----
1. Ben
----- End of picture text -----

CTA ATT (fellow)

7 Castle Street Bridgwater Somerset TA6 3DD

Date:..... 2S.\. 205°

Page 6

Somerset Building Preservation Trust

Statement of Financial Activities for the Year Ended 30 June 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

		Unrestricted	Restricted	Total	Total
		funds	funds	2025	2024
	Note	£	£	£	£
Income and Endowments	from:
Donations and grants	3	20,330	90,400	110,730	98,321
Investment income	4	1,193	-	1,193	1,871
Other income	5	2,666	-	2,666	2,486
Total income		24,189	90,400	114,589	102,678
Expenditure on:
Raising funds		(33,202)	-	(33,202)	(23,238)
Charitable activities	6	(4,327)	(80,908)	(85,235)	(77,836)
Total expenditure		(37,529)	(80,908)	(118,437)	(101,074)
Gains/(losses) on
investment assets		605	-	605	994
Net (expenditure)/income		(12,735)	9,492	(3,243)	2,595
Transfers between funds		(10,738)	10,738	-	-
Net movement in funds		(23,473)	20,230	(3,243)	2,595
Reconciliation offunds
Total funds brought forward		55,578	14,775	70,353	67,758
Totalfundscarriedforward	14	32,105	35,005	67,110	70,353

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2025 is shown in note 14.

The notes on pages 10 to 18 form an integral part of these financial statements. Page 7

Somerset Building Preservation Trust

(Registration number: 2319737) Balance Sheet as at 30 June 2025

		2025	2024
	Note	£	£
Fixed assets
Intangible assets	10	15,597	16,306
Investments	11	16,948	16,343
		32,545	32,649
Current assets
Debtors	12	271	222
Cash at bank and in hand		37,312	39,539
		37,583	39,761
Creditors: Amounts falling due within one year	13	(3,018)	(2,057)
Net current assets		34,565	37,704
Net assets		67,110	70,353
Funds ofthe charity:
Restricted income funds
Restricted funds		35,005	14,775
Unrestricted income funds
Unrestricted Funds		32,105	55,578
Totalfunds	14	67,110	70,353

For the financial year ending 30 June 2025 the 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 charity 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.

The notes on pages 10 to 18 form an integral part of these financial statements. Page 8

Somerset Building Preservation Trust

(Registration number: 2319737) Balance Sheet as at 30 June 2025

The financial statements on pages 7 to 18 were approved by the trustees, and authorised for issue on 9A\O\255.. and signed on their behalf by: Ge

Chairman and trustee

Trustee

The notes on pages 10 to 18 form an integral part of these financial statements. Page 9

Somerset Building Preservation Trust

Notes to the Financial Statements for the Year Ended 30 June 2025

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

2 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Somerset Building Preservation Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Page 10

Somerset Building Preservation Trust

Notes to the Financial Statements for the Year Ended 30 June 2025

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 flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• Income 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.

• Legacy 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 recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• Income 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 to be spent on a particular purpose and returned if 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 received 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 cosis 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 charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs relating to the governance of the charity apportioned to charitable activities.

• Other expenditure includes all expenditure that is neither related to raising funds for the charity 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

Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Page 11

Somerset Building Preservation Trust

Notes to the Financial Statements for the Year Ended 30 June 2025

Amortisation

Amoniisation 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 service 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 the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions 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 2025
	£	£	£
Donations and legacies;
Donations and grants	20,330	90,400	110,730
	20,330	90,400	110,730
	Unrestricted
	funds General	Restricted funds	Total 2024
	£	£	£
Donations and legacies;
Donations and grants	9,025	79,296	88,321
Legacies	10,000	-	10,000
	19,025	79,296	98,321

Page 12

Somerset Building Preservation Trust

Notes to the Financial Statements for the Year Ended 30 June 2025

4 Investment income

		Unrestricted
		funds	Total
		General	2025
		£	£
Interest receivable and similar income;
	Interest receivable on bank deposits	212	212
Other investment income		981	981
		1,193	1,193
		Unrestricted
		funds	Total
		General	2024
		£	£
Interest receivable and similar income;
	Interest receivable on bank deposits	414	414
Other investment income		1,457	1,457
		1,871	1,871
5	Other income
		Unrestricted
		funds	Total
		General	2025
		£	£
Members' fees		2,066	2,066
Rental income		600	600
		2,666	2,666
		Unrestricted
		funds	Total
		General	2024
		£	£
Members' fees		1,361	1,361
Rental income		1,125	1,125
		2,486	2,486

Page 13

Somerset Building Preservation Trust

Notes to the Financial Statements for the Year Ended 30 June 2025

6 Expenditure on charitable activities

	Unrestricted
	funds General	Restricted funds	Total 2025
	£	£	£
Fore Street expenditure and amortisation	709	80,908	81,617
Independent examination and payroll fees	1,938	z	1,938
Brunel Lodge	1,680	-	4,680
	4,327	80,908	85,235
	Unrestricted
	funds	Restricted	Total
	General	funds	2024
	£	£	£
Fore Street expenditure and amortisation	6,990	67,596	74,586
Independent examination and payroll fees	4,341	“	1,341
Promotional expenses	1,909	-	1,909
	10,240	67,596	77,836

Page 14

Somerset Building Preservation Trust

Notes to the Financial Statements for the Year Ended 30 June 2025

7 Trustees remuneration 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 benefits from the charity during the year.

8 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
	2025	2024
	£	£
Staff costs during the year were:
Wages and salaries	27,661	18,116
Pension costs	928	567
	28,589	18,683

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year was as follows:

Administrative staff

2025	2024
No	No
1	1

1 (2024 - 1) of the above employees participated in the Defined Contribution Pension Schemes.

9 Taxation

The charity is a registered charity and is therefore exempt from taxation.

10 Intangible fixed assets

10 Intangible fixed assets
	9 Fore Street
	lease	Total
	£	£
Cost
At 1 July 2024	17,724	17,724
At30June2025	17,724	17,724

Page 15

Somerset Building Preservation Trust

Notes to the Financial Statements for the Year Ended 30 June 2025

	9 Fore Street
	lease	Total
	£	£
Amortisation
At 1 July 2024	1,418	1,418
Charge for the year	709	709
At 30 June 2025	2,127	2,127
Net book value
At 30 June 2025	15,597	15,597
At 30 June 2024	16,306	16,306
11 Fixed asset investments
	2025	2024
	£	£
Other investments	16,948	16,343
Other investments
	Listed
	investments	Total
	£	£
Cost or Valuation
At 1 July 2024	16,343	16,343
Revaluation	605	605
At 30 June 2025	16,948	16,948
Net book value
At 30 June 2025	16,948	16,948
At 30 June 2024	16,343	16,343
All investments shown above are held at valuation
12 Debtors
	2025	2024
	£	£
Prepayments	271	222
13 Creditors: amounts falling due within one year
	2025	2024
	£	£
Accruals	3,018	2,057

Page 16

Somerset Building Preservation Trust

Notes to the Financial Statements for the Year Ended 30 June 2025

14 Funds
	Balance at					Balance at
	1 July	Incoming		Resources		30 June
	2024	resources		expended	Transfers	2025
	£		£	£	£	£
Unrestricted funds
General
General Funds	55,578		22,509	(35,244)	(10,738)	32,105
Restricted funds
Bishop's Barn, Wells	3,075		-	-	-	3,075
9 Fore Street, Chard	11,700		90,400	(80,908)	10,738	31,930
	14,775		90,400	(80,908)	10,738	35,005
Total funds	70,353	112,909		(116,152)	-	67,110
	Balance at 1		Incoming		Resources	Balance at
	July 2023		resources		expended	30 June 2024
		£		£	£	£
Unrestricted funds
General
General Funds		64,683		23,382	(32,487)	55,578
Restricted funds
Bishop's Barn, Wells		3,075		-	-	3,075
9 Fore Street, Chard		-		79,296	(67,596)	11,700
		3,075		79,296	(67,596)	14,775
Totalfunds		67,758		102,678	(100,083)	70,353

The specific purposes for which the funds are to be applied are as follows:

The Bishop's Barn, Wells project has been completed leaving a balance in the restricted fund.

During the year a number of grants were received for the project at 9 Fore Street, Chard for works including asbestos removal, roof repairs and other works. This also included grants for viability 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 17

Somerset Building Preservation Trust

Notes to the Financial Statements for the Year Ended 30 June 2025

15 Analysis of net assets between funds

	Unrestricted		Total funds
	funds	Restricted	at 30 June
	General	funds	2025
	£	£	£
Intangible fixed assets	15,597	-	15,597
Fixed asset investments	16,948	-	16,948
Current assets	2,578	35,005	37,583
Current liabilities	(3,018)	-	(3,018)
Total net assets	32,105	35,005	67,110
	Unrestricted		Total funds
	funds	Restricted	at 30 June
	General	funds	2024
	£	£	£
Intangible fixed assets	16,306	-	16,306
Fixed asset investments	16,343	-	16,343
Current assets	24,986	14,775	39,761
Current liabilities	(2,057)	-	(2,057)
Totalnetassets	55,578	14,775	70,353

Page 18

Somerset Building Preservation Trust

Detailed Statement of Financial Activities for the Year Ended 30 June 2025

	Total	Total
	2025	2024
	£	£
Donations andgrants
Legacies and bequests	.	10,000
Grants	90,400	79,296
Grants	17,330	-
Donations	3,000	9,025
	110,730	98,321
Investment income
Interest on cash deposits	212	414
Income from other investments	981	1,457
	1,193	1,871
Otherincome
Rent	600	1,125
Other income	2,066	1,361
	2,666	2,486
Raising funds
Administrative staff salaries	(27,661)	(18,116)
Pension costs	(928)	(567)
Insurance	(744)	(871)
Printing, stationery and office costs	(2,208)	(2,513)
Subscriptions	(125)	(100)
Visits and AGM expenses	(1,536)	(1,071)
	(33,202)	(23,238)
Charitable activities
Governance costs- Independent Examination fees	(1,938)	(1,341)
9 Fore Street expenditure - restricted	(80,908)	(67,596)
9 Fore Street expenditure	-	(6,281)
Brunel lodge	(1,680)	°
Promotional expenses	-	(1,909)
Amortisation on 9 Fore Street lease	(709)	(709)
	(85,235)	(77,836)

This page does not form part of the statutory financial statements. Page 19