COMPANY REGISTRATION NUMBER: N1616033
CHARITY REGISTRATION NUMBER: NIC100106
Inner City Buildings Preservation Trust
Company Limited by Guarantee
Financial Statements
31 March 2025

Inner City Buildings Preservation Trust
Company Llmlted by Guarant80
Financial Statemonts
Year 8nd8d 31 March 2025
Page
Trustees, annual report (incorporating the director's report)
Independent auditor's report to the members
Statement of financial activities (including income and
expenditure account)
12
Balance sheet
13
Notes to the financial statements
14
The followlng page8 do not form part of the financial Statements
Detailed statement of financial activities
22
Notes to the detailed statement of financial activities
23

Inner City Buildings Preservation Trust
Company Llmited by Guarantee
Trustees, Annual Report (Incorporating the Director'8 Report)
Year ended 31 March 2025
The trustees, who are also the directors for the purposes of company law, present their report and the
financial statements of the charity for the year ended 31 March 2025.
Rafer•nco and admlnlstratlvo detalls
Reg18tered charfty nam•
Inner City Buildings Preservation Trust
Charlty r•gl8tratlon number
NIC100106
Company r•glstratlon number N1616033
Prlnclpal offlce and reg18torod 31-33 Shipquay Street
offlc•
Derry
BT48 6DL
The tru8t•••
Mr Patrick Walsh
Mr William McBride
Mr John Meehan
Mr William Mclvor
{Resigned 5 September 20241
Company 88cr•tary
Helen Quigley
Audltor
Fergus McAteer & Co
Chartered accountants & statutory auditor
31133 Clarendon Street
Derry
BT48 7ER
Bank•r¥
AIB INI)
Meadowbank House
Strand Road
Oerry
8T48 7TN
Sollcltorn
Brendan Kearney & Co
Clarendon House
4 Clarendon Street
Derry
BT48 7EX

Inner City Buildings Preservation Trust
Company Llmlted by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (contlnu•dJ
Year ended 31 March 2025
Structureg governance and management
The Directors are pleased lo present their annual report together with the financial statements of the
Charity for the year ending 31 March 2025 which are also prepared to meet the requirements for
Directors, report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act INI) 2008, the Charities (Accounts and Reports)
Regulations (NII 2015, Companies Act 2006. the Memorandum and Articles of Association, and
Accounting and Reporting by Charities, Statement of Recommended Practise applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS102) (effective 1 January 2019.)
Diredors and trustees
The directors of the charitable company (the charity) are the trustees for the purpose of charity law. The
trustees during the year and at the 31 March 2025 were as follows.
William McBride (Resigned S September 2024)
William Mclvor
John Meehan
Patrick Walsh
Related Parties
Londonderry Inner City Trust is the sole member of Inner City Buildings Preservation Trust and is also
related party by virtue of the fact that some of its directors are also directors in Inner City Building8
Preservation Trust.
ObJ8ctlv•8 and actlvltle•
The company's objects as set out in the Articles of Association are..
1., To secure by such means as are available for thè pijblic benefit the preseNation, protection and
improvement of buildings, parts of buildings or structures of particular beauty, or of historic,
environmentsl, architectural or constructional merit or interest in the Inner City area of Derry City and to
stimulate and educate public interest therein.
2. To advance the education and vocational skills of the public in building preservation, restoration,
refurbishment, traditional and general construction and related afeas of work with the object of
enhancing their employment prospects.
3.. To promote such other exclusively charitable purposes in accordance with the 18w of charity in
Northem Ireland as may from time to time be determined.

Inner City Buildings Preservation Trust
Company Llmited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) Icontlnued)
Year ended 31 March 2025
Achlevements and performance
The Trusys strategic approach is fundamentally about the identification, acquisition and restoration of
listedlhistoric buildings and increasing the level of skills awareness and education in the field of heritage.
Over the last year the Trust continued with its systematic programme of facilities management
investing in the maintenance of high standards within its historic and listed buildings. The Trusts
commitment in this area of its operations is vital in ensuring its assets not only remain in good structural
condition but also protect their capability to generate income for future activities.
By implementing this approach in a systematic way, the Trust can breathe new life into old buildings and
ensure that the restored assets positively contribute to the regeneration of the city of DerrylLondonderry
over short, medium and long-term timescales.
Furthermore, the restored buildings not only animate the urban landscape, but also generate income to
be used in further investment in capital projects and in skills and awareness programmes.
We believe that to effectively restore and utilize our listed built environment we need to be a patient
capital investor over the longer term. This approach in tum, enables the Trust to serve the widest public
benefit.
The remainder of the Trust's income, i.e. that element not re-invested to secure the immediate
advancement of its objectives, is retained to build up a sufficient capital reserve, The purpose of this
retention is to enable the Trust lo invest in future projects that require finances and patient restoration.
This is particularly important given that grant aid for such projects is becoming harder to secure, whilst
the inflationary cost pressures on these projects continue to rise.
Flnanclal revlew
The year to 31 st March 2025 saw the Trust report net income of £11,091 (2024.. net deficit of £1,417)
and an increase in nel assets to £1,462,003. The main source of income is rent from the refurbished
Northem Counties building, now operating independently as the Bishop's Gate Hotel. Net income from
rent for the year was £133,07412024'. £127,432), bringing the unrestricted reserves to £836,766.
The Trustees have set aside £310,000 12024: £310,000) from this sum to meet future major
maintenance works on its propety portfolio and a￿ satisfied that the remaining free reserves are mo
than adequate to sustain operations.
The balance of net assets of £625,238 {2024. £533,118) represents funds attached to the propety
assets of the Trust which are part-funded by grants and therefore have restrictions attached to them by
funders. Overall, the Trustees determine that the Trust has a solid financial foundation and continues in
good financial health.

Inner City Buildings Preservation Trust
Company Llmitad by Guarantee
Tru8t8es' Annual Report (Incorporating the Director's Report) (conunued)
Year endad 31 March 2025
Plan8 tor future perlods
In the corning year the Trust will continue to consolidate its financial position, improve the effectiveness
of our operations, and increase our presence in the city and the heritage sector.
Despite new pressures from inflationary increases. our audited accounts show a solid basis on which to
build for the future.
We will continue our balanced approach that ensures each year we contribute positively to each of our
stated charitable objectives. Consequently. looking forward to 2025 - 26 year the Trust {by our own
actions and in partnership wilh others) will'.-
Continue to asset manage and invest in the Trust's existing projecls to ensure thal Ihe quality of
the original restoration in maintained and that any additions are congruent with historic buildings
standards, thereby enhancing the streetscape, increasing footfall and utilizing our built heritage to boost
tourism and bring prosperity to the city.
Continue to increase awareness, insiil pride 8nd educate the public on the importance of heritage and
what can be achieved with thoughtful restoration.
Continue to implernent the outcomes of the 2018 Walled City Conference and ensure Iheir
incorporation into the city's Strategic Plan and where possible the Cty Deal helping move the proce88
of heritage restoration from the margins to the mainstream of regeneration.
Continue to advocate for best practice in urban regeneration through the local council. government,
the National Trust, Development Trust Nl, Locality and the Academy of Urbanism, We will also continue
to showcase our existing restoration projects on Heritage Open Days and similar public viewing as and
when these return.
Ensure that the Fashion & Textile Design Centre continues to deliver its programme$ of skills
development. including the revival of traditional textile based skills.
Ensure that the Trust contributes to the development of wider capital sources that will accelerate the
reimaging and restoratson of key listed assets within the city.

Inner City Buildings Preservation Trust"
Company Llmltad by Guarantse
Trustses, Annual Report (Incorporating the Director'8 Report) {contlnu•d)
Year ended 31 March 2025
Re8erv08 poIIcy
The directors review the reserves of the Trust on an annual basis This reserves review is carried out
annually by the directors prior to the Trust's Annual General Meeting, which takes place in September
each year.
The review encompasses the nature of the income and expenditure streams, the need to match variable
income with fixed commitments and the balance and nature of the reserves themselves. As part of this
review the directors also analyse the future mandatory capltal commitments placed on the Trust from
the maintenance and upkeep of the properties and assets und8r ils stewardship. and have separately
indented those materkql Commitments within the reserves held at the year end The Trust IS also
committed to certain capital proiecls and the associated impact on Ihe reseNes of the Trust are
incorporated into its annual reseNes review.
As at 31st March 2025 the directors have desvJnated £310,00013111 March 2024. £310,000) of the free
reserves lo meet future major maintenance and repair works on its propety portfolio, and intend to
gradually increase this in the coming years as and when free reserves allow.
The directors have forecast the level of free reserves (that is those fijnds not tied up in fixed assets, and
designated and restricted funds) that the charity will require to suslain its operations and meet its
financial obli9alions over future periods. They are satisfied that the reserves held are more than
adequate for these purposes and will continue to monitor and review the funds held to ensure that the
existing and future charitable activities of the organisation can be funded from its resources
Rl8k management
Risk management
The directors have examined the major strategic. bu8ine88 and operational risks which the charlty faces
and confirm that systems have been established to enable regular reports to be produced w that the
necessary steps can be taken to lessen these risks.
The Trust have implemented a Rlsk Regislar to facilitate the idenlificalion of key risks on a timely basi8.
Committees, where appropriate, have been established to cover all risk areas and these committees
report regularly to the Board of Diractors.

Inner City Buildings Preservation Trust
Company Llmlted by Guarante•
Trustees, Annual Report (Incorporating the Director's Report) (¢ontlnu•dJ
Year ended 31 March 2025
Tru8t•e•' re•pon81bllltle8 statoment
The trustees, who are also directors for the purposes of company law, are responsible for preparing the
trustees, report and the financial statements in accordance with applicable law and Uniied Kingdom
Accounting Standards {United Kingdom Generally Accepted Accounb'ng Practice).
Company law requires the charity trustees to prepare financial statements for each year which give
true and fair view of the state of affairs of the charitable company and the incoming resources and
application of resources. including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the applicable Charilies SORP.,
make judgments and accounting estimates that are reasonable and prudent.,
prepare the financial ststements on the going concarn basis unless it is inappropriate to presume
Ihat the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the charity's transactions and disclose with reasonable accuracy at any time the financial
position of the charity and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for taking reasonable steps for the prevention and detection of fraud and olher irregularities,
Each of the persons who is a trustee at lh& date of approval of this report confirms that.,
so far as they are aware, there is no relevant audit information of which the charity's auditor 18
unaware.. and
they have tsken all steps that they ought to have taken as a trustee to make themselves aware of
any relevant audit information and to establish that the charity's auditor is aware of that information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act
2006.
Small company provl8lon8
This report has been piepared In accordance wlth the provlslons applicable to companies entitled to the
small companies exemption.
The trustees, annual report was approved on 28 June 2025 and signed on behalfof the board oftruste88
by
Mr William Mclvor
Trustee /

Inner City Buildings Preservation Trust
Company Llmited by Guarantea
Independent Auditor's Report to the Members of Inner City Building8
Preservation Trust
Year ended 31 March 2025
Oplnlon
We have audited the financial statements of Inner City Buildings Preservation Trust (the 'charity'l for the
year ended 31 March 2025 which comprise the statement of financial activities (including income and
expenditure account), balance sheet and the related notes, including a summary of Significant
accounting policies. The financial reporting framework that has been applied in their preparation is
applicable law and Unrted Kingdom Accounting Standards, including FRS 102 The Financial Reponing
Standard applicable in th8 UK and Republic of Ireland (United Kingdom Generally Accepted Accounting
Practice).
In our opinion the flnancial statements..
give a true and fair view ofthe state of the charity's affairs as at 31 March 2025 and of its incoming
resources and applicatlon of resources, including Its income and expenditure, for the year then
énded.,
have bèen properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice.,
have been prepared in accordance with the requirements of the Comp8nies Act 2006.
Ba818 for oplnlon
We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs {UK}} and
applicable law. Our responsibilities under those standards are further described in the auditorfs
responsibilities for the audit of the financial stalements section of our report. We are independent of the
charity In accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion,
Conelu81on8 relatlng to golng concern
In auditing the financial statements, we have concluded that the trustees, use ofthe going concem basis
of accounts'ng in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to
continue as a going concern for a period of at least fvlelve months from when the financial statements
are authorised for issue.
Our responsibilities and the responsibilities of Ihe trustees with respect to going concern are described
in the relevant sections of this report

Inner City Buildings Preservation Trust
Company Limlted by Guarantea
Indepandent Auditor'8 Report to the Membern of Inner City Buildings
Preservation Trust (¢ontlnu•dJ
Year ended 31 March 2025
Other Infomiatlon
The other information comprises the information included in the annual report, other than the financial
statements and our auditor's report Ihereon The trustees are responsible for the other information. Our
opinion on the financial statements does not cover the other information and. except to the extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other infomiation
and. in doing so, consider whether the other information is materially inconsistent with the financial
statements or our knowledge obtained in the audit or ottterwise app8ars to be materially misstated. If
we identify such material inconsistencies or apparent material misstatements. we are required to
determine whether there is a material misstatement in the financial statements or a material
misstatement of the other information. If, based on the work we have performed, we conclude that there
s a materlal ml8Statement of thi8 Other Infonnatlon, we are requlred to report that fact.
We have nothing to report in this regard,
Oplnlon• on othor m•ttern pr••crlbod by th• Compinlm Act 2006
In our opinion, based on the work undertaken in the course of the audit.
the information given in the trustees, report for the financial year for which the financial statements
are prepared Is consistent with the financial statements., and
the trustee8' report h88 been prepared in accordance with applicable legal requirements.
Matt•rn on whlch we are roqulrnd to report by exceptlon
In the light ofthe knowledge and understanding of the charity and its environrnent obtained in the course
of the audlt. we have not identified material misstatements in the trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act
2006 requires us to report to you if. in our opinion..
adequate accountlng records have not been kept, or returns adequale for our audit have not been
received from branches not visited by us., or
Ihe financial statements are not in agreement with the accounting records and returns., or
certain disclosures of trustees, remuneration specified by law are not made., or
wa have not received all the Information and explanations we require for our audit., or
the trustees were not entitled to prepare the financial statements in accordance with the small
companies regime and take advantage of the small companies, exemptions in Preparing the
directors. report and from the requirement to prepare a strategic report.

Inner City Buildings Preservation Trust
Company Limited by Guarantee
Independent Auditor'8 Report to the Members of Inner City Buildings
Pr88ervatlon Trust (¢onllnu•d)
Year ended 31 March 2025
Re8pon81bllltle• of tru8tee8
As explained more fully in the truslees, responsibilities statement, the trustees (who are also the
directors forthe purposes ofcompany lawl are responsible for the preparation ofthe financial statements
and for being satisfied that they give a true and fair view, and for such internal control as the trustees
determine is necessary to enable the preparation of financial statements that are free from material
misstatemenl, whether due to fraud or error,
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to
continue as a going concern, disclosing, as applicable, matters related lo going concern and using the
going concern basis of accounting unless the trustees either intend to liquidat8 the charity or to cease
operations, or have no realistic alternative but to do so.
Audltor'• re•pon•lbllltle8 for the audll of tho flnanclal 8tatem•nt•
Our objèctives are lo obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and lo issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with ISAS IUK) will always detect a material misstatement when it exists.
Misstatements C8n arise from fraud or error and aro considered material if, Individually or In the
aggregate, they could reasonably be expected to influence the economic decision8 of users taken on
the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line wilh our responsibilities, outlined above, to detect material misstatements in respect
of irregularities, including fraud. The extent to which our procedures are capable of detecting
irregularitles, Including fraud is detailed below..
Identlfylng and a880881ng potentlal r18k8 r•lated to Irregularltle8
In identifylng and a55essing risks of material misstatement in respect of irregularities, including fraud
and non-complianc8 Wth laws and regulations we considered the folk)wing'.
the nature of the irKlustry and sector and control environment
the legal and regulatory framework applicable
the results of our enquiries of management and other key persons about their own identification and
assessment of the risks and irregularities
the Charity own policies and proceduros on compliance with laws and regulations including any
instances of non-compliance
Audlt response to rlsk Id8ntlfled
As a result of performing the above we identified 8nd performed the following procedures
enouiry of management, those charged with governance around actual and potential litigation and
claims.
enquiry of entity 8l#H in compllance function8 to idantify any instan¢?¥ of non-GornplianG? Wlth laws
and regulation8.
Reviewing financial statement dlsclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations.

Inner City Buildings Preservation Trust
Company Llmltsd by Guarant80
Independent Audltor'8 Report to the Members of Inner City Buildings
Preservatlon Tru8t (etMtlnu•d)
Year ended 31 March 2025
Performing analyt￿al procedures to identify any unusual or unexpected relationships that may
indicate risks of material misstatement due to fraud.
Auditing the risk of management override of controls, including through testing Journal entfies and
other adjustments ft)r appropriateness, and evaluating the business rationale of significant
transactions outside the normal course of busine5S.
As part of an audit in accordance with ISAS IUKI. we exercise professional Judgment and maintaln
professional sceptscism throughout the audit. We also..
Identlfy and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion, The risk of not
detecting a material misstatement fasulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, rnisrepresentations. or the override
of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumslance8, but not for the purpose of expressing an opinion on the
effectiveness of the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
eslimales and relaied disclosures made by the trustees.
Conclude on the appropriateness of the trustees, use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubl on the charity's ability to continue as a going concern.
If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's
report to the related disclosures in the financial statements or. if such disclosures are inadequate,
lo modify our opinion. Our conclusions are based on the audit evidence obtained up lo the date of
our auditor's report. However, future events or conditions may cause the charity to cease to
continue as a golng concern.
Evaluate the overall pres8ntation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying irans8Ctions and events
In a manner that achieves fair presentation.
10

Inner City Buildings Preservation Trust
Company Limited by Guarantee
Independent Auditor's Report to the Membern of Inner City Buildlng8
Preservation Trust (contlnu•dJ
Year ended 31 March 2025
We communicate with those charged with governance regarding. among other matters, the planned
Scope and timing of the audit and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
Use of our report
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 18
of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity,
members those matters we are required to slate to them in an audilofs report and for no other purpose.
To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than
the charity and the charity's members as a body, for our audit work, for this report, or for th8 opinions
we have formed.
Conor McAteer (Se
or Statutory Auditor)
For and on behalf of
Fergus McAteer & Co
Chartered accountants & statutory auditor
31133 Clarendon Street
Derry
BT48 7ER
26 June 2025
2 6 JUN 3025
11

Inner City Buildings Preservation Trust
Company Llmlted by Guarantee
ststement of Flnancial Activities
(including income and expenditure account)
Yoar ended 31 March 2025
2025
Restricted
funds Total fund8 Total funds
2024
Unrestricted
funds
Not•
Income and endowm6nt8
Other trading activitie8
Investment income
139,950
12,901
139,950
12,901
149,600
16,653
Total Incom
152,851
152,851
166,253
Expendltur•
Expenditure on raising funds
Costs of other trading activities
Expenditure on charitable activities
Tot41 oxp•ndlture
3.372
16,405
42,983
48,355
16,405
63,103
18.702
19.777
42,983
62,760
81,805
Net108ses on investments
10
(79,000)
179,000)
185,8651
Net Incom•l(•xp•ndllur•)
133,074
1121,983)
11,091
(1,4171
Transfer8 be￿een funds
(214,104)
214.104
Net movement In fund8
181,030)
92,121
11,091
(1,417)
Reconclllallon of fund8
Totsi funds broughl forward
Total fund8 carrled forward
917,796
533,117
1,450,913
1,452.329
838.786
625,238
1.462,004
1,450.913
The statement of financial activities inclLsdes all gains and Ioss8s recognised in the year.
All income and expenditure derive from conlinuing activities
The note• on page• 14 to 20 forni part ol tho•• flnanclal 8tatsm•nt•.
12

Inner City Buildings Preservation Trust
Company Llmlted by Guarantee
Balance Sheet
31 March 2025
2025
2024
Not•
Flxed a880t8
Tangible fixed assets
13 4,727,709
4,849,693
Current a•set•
Debtors
Cash al bank and in hand
14
6,101
256,008
16,653
700.464
262,109
717,117
Cr•dltor•: amounts falllng du• wlthln ono yoar
Net current Ilabllltl••
15 3,527,815
3,265,706
1.462,003
4,715,898
3,398.781
1,450,912
Total a••ot•1088 currant Ilabllltlg8
Net a•8ets
1,462.003
1,450,912
Fund8 01 th• charlty
Restrlcted funds
Unrestricted funds
625.238
836,765
533,118
917,795
Total charlty fund•
16
1,462,003
1,450,913
These financial statements have been prepared in a￿ordanCe with the provisions applicable to
companies subject to the small companies, regime,
ese financial statements were approved by the board of trustees and authorised for Issue on 26 Jun8
25, and are signed on behalf of the board by..
Mr William Mclvor
Trustee
The note8 on pages 14 to 20 form part of the•e flnanclal ststem•nts.
13

Inner City Buildings Preservation Trust
Company Limited by Guarantse
Notes to the Financial Ststsments
Year ended 31 March 2025
General Informatlon
The charity is a public benefit entity and a private company limited by guarantee. registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office
is 31-33 Shipquay Street, Derry, BT48 6DL.
Statement of compllanc•
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 1021 (Charities
SORP IFRS 10211 and the Companies Act 2006.
Aeeountlng pollcle•
Parent company
Inner City Buildings Preservation Trusl is a wholly owned Subsidiary of Londonderry Inner City
Trust which is a private charitable company limited by guaranlee, registered in Northem Ireland.
The address of the registered office is 31- 33 Shipquay Street. Derry, BT48 6DL.
Consolidated group financial statements have been prepared by the parent.
Ba818 of preparatlon
The financial statements have been prepared on the historical cost basis. as modified by the
revaluation of certain financial assets and liabilities and investrnent properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Golng concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use al the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor orthrough
the terms of an appeal, and fall into one Offr￿0 sub-classes.. restricted income funds or endowment
funds.
14

Inner City Buildings Preservation Trust
Company Llmited by Guarantee
Note8 to the Financial Ststements (wiflnu•d)
Year ended 31 March 2025
Accountlng pollcle8 (ContInu￿)
IncomSng r080urc•8
All income is InclL¢ded in the slatemenl of financial activities when entitlement has passed to the
charity, it is probable that the economic benefils associated with the transaction will flow to the
charity and the amount can be reliably measured. The following specific policies are applied to
particular categori8s of income.
income from granl8 is recognised when there is evidence of entitlement to the funds, any
performance conditions attached to the grants have been met, receipt is probable and its amount
can be measured reliably.
rental income Is recogni8ed when there is evidenc8 of entitleThnt
R•iource8 oxpendod
Expenditure is recognised on an accruals basis as a Ilability 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,
expendlture on raising funds includes the costs ol all fundraising activitie8, events and non-
charitable trading activities
expendilure on charitable activities include8 all costs incurred by a charity in undertaking activities
that further its charitable aims for the benefit of its beneficianes, including those support costs and
costs relating to Ihe 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 expendlture on charitable activities.
All costs are allocated to expenditure categories rellecting the use of the resource. Direct costs
attributable to a single aclivlty are allocated directly to that activlty. Shared costs are apportioned
between the activities they contribute to on a reasonable, justifiable and con8lStent basls
T•nglbl• a889ts
Tangible assets are initially recorded at cost, and subsequently staled at cost less any accumulated
depreciation and impairment losses. Any tangible assets carrieé at revalued amounts are recorded
at the fair value al the date of revaluation less any subsequent accumulated depreciation and
subsequent accumulated impairment losses,
An increase in the carrying amount of an asset as a result of a revaluation. is recognised in other
cognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation, Is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the loss is shown within
other recognised gains and losses on the ststement of financial activities.
15

Inner City Buildings Preservation Trust
Company Llmited by Guarante8
Nots8 to the Financial Statements (contlnu•d)
Year ended 31 March 2025
Accountlng pollcl•8 (contlnu•d)
Deprnclatlon
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,
over the useful economic lile of that asset as follows..
Freehold propety
Fixtures and fittings
Nll depreciation
1 Ovo Straight line
Impalmient of flxed a••et•
A review lor indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount
of an individual asset, en estimate is made of the recoverable amount of the cash-generaling unit
to which th6 asset belongs. The cash-generaiing unit is the smallest identifiable group of assets
that includes the asset and generates cash inflows that largely independent of the cash inflows
from other assets or groups of assets.
Fln•nclal Instruments
A financial asset or a financial liability is recognised only when the entity becomes a paty to the
contractual provisions of the instrument.
88sic financial instruments are initially recognised al the amount feceivable or payable including
any related transaction costs, unless the arrangement constitutes a financing transaction, where it
is recognised at the present value of the future payments discounted at a market rate of interest
for a similar debt instrument.
Llmlt•d by guarant
Inner City 8uildings PreseNation Trust is a registered charity company limited by guarantee.
HMRC Charity Reference number.. N100014
Nl Charity Commission Reference number. NIC100108
Other tradlng actlvltle8
Unrestricted Totsl Fund8 Unrestricted Total Funds
Funds
2025
Funds
2024
Rent receivable
139,950
139,950
149.600
149,600
16

Inner City Buildings Preservation Trust
Company Llmlt8d by Guarantao
Notes to the Financial Ststements (contlnu•d)
Yaar ended 31 March 2025
Inva8tm6nt Income
Unrestricted Total Funds Unrestricted To*al Funds
Funds
2025
Funds
2024
Bank Interest
12.901
12,901
16,653
16,653
Cost8 ol othar trndlng actlvltle•
Unr8Strlct8d
Funds
Restricted Total Fund•
Funds
2025
Costs of other trading activities
3,372
42,983
46,355
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Costs of other trading activities
20,120
42,983
63,103
Expendltur• on ch•rltabl• a¢tlvltl•• by lund typo
Unrestricted Total Fund8 Unrestricted Total Funds
Funds
2025
Funds
2024
Events and advertising
Support cost8
3,000
15,701
3,000
15,702
16,405
18,405
16,405
16,405
18,701
18,702
Exp•ndltur• on charltabl• actlvltlM by actlvlty typo
Support Total funds
sts
2025
Total fund
2024
Events and advertising
Governance costs
3,000
15,702
16,405
16,405
16,405
18,405
18,702
10. N•t1088•8 on Investment8
Restricted Total Fund8
Funds
2026
Restricted Total Funds
Funds
2024
Gainslllosses) on investment propety
179,000)
(79,000)
185,865)
185,8651
17

Inner City Buildings Preservation Trust
Company Llmited by Guarantee
Nota8 to the Financial Statements (contlnu•d)
Year ended 31 March 2025
11. Net Incomg1{expendlturel
Net incomel(expenditure) is stated after chargingllcreditingl..
2025
2024
Depreciation of tangible fixed assets
Fees payab18 for the audit of the financial ststements
42,984
3,050
42,983
3,600
12. Trust•• romuneratlon and oxpen808
None of the trustees have been paid any remuneration or received any other payment from an
employment with the charity or a related charity. In the year four trustees were reimbursed
expenses for travelling totalling £200131 March 2024 - £200 for four trustees).
The key management personnel of the charity comprises the Trustees, the General Manager and
the Finance Manager of the parent company, Londonderry Inner City Trust. The total benefits of
the key mana9ernent personnel of the trust was £nil131 March 2024 - £nil).
13. Tanglble flxed a880ts
Freehold Fixtures and
propety
fittings
Total
Cost
Al 1 April 2024
Revaluations
4,749,045
179.0001
4,670,045
429,834
5,178,879
{79.000)
5,099,879
Al 31 March 2026
429,834
Doprèclatlon
At 1 April 2024
Charge for the year
At 31 March 2026
6,811
322.375
42,984
329,186
42,984
6,811
365.359
372,170
Carrylng amount
At 31 March 2025
4,663,234
64,47S
4,727,709
At 31 March 2024
4,742,234
107,459
4,849,693
14. D•btorn
2025
2024
Prepayments and accrued income
6,101
16.653
18

Inner City Buildings Preservation Trust
Company Llmlted by Guarantse
Note8 to the Financial Statements fconllnu•d)
Year ended 31 March 2025
15. Credltor8: amounts falllng due wlthln one year
2025
2024
Amounts owed to group undertakings
Accruals and deferred income
Social security and other taxes
3,519,283
3,763
4,769
4,101,047
9,214
5,637
3,527.815
4,115,898
16. Analy81• of charftable fund•
Unre•trlcted fund8
At
1 Apr 2024
Gains and
At
losses 31 Mar 25
Income Expendlture
Transfers
Unrestricted
general funds
Designated Fund
607,796
310,000
152.851
(19,7771 {214,1041
526,766
370,000
917,796
152,851
(19,7771 {214,1041
836,788
At
1 Apr 2023
Gains and
At
osses 31 Mar 24
Income Expenditure
Transfers
Unrestricted
general funds
Designated Fund
322,720
310,000
166.253
(38,8211
157,644
607,796
310,000
632,720
166,253
{38,8211
157,644
917,798
R•8trlct•d fund$
At
1 Apr 2024
Gains and
At
losses 31 Mar 25
Income Expenditure
Transfers
Property Fund
533,117
(42,983)
214,104
{79.000)
625,238
At
1 Apr 2023
Gains and
At
losses 31 Mar 24
Income Expenditure
Transfers
Property Fund
819.609
142,983) (157,844) (85,865)
533,117
19

Inner City Buildings Preservation Trust
Company Llmltsd by Guarantee
Notss to the Financial Statements {contlnu•d)
Year ended 31 March 2025
17. Analy•l8 of net a88ets between funds
Unrestricted
Funds
Restricted Total Fund8
Funds
2025
Tangible fixed assets
Current assets
Creditors less than 1 year
Not a88ets
594,832
4,727,709
262,109
282,109
120,1751 (3,507,639) {3,527,814)
836,766
625,238
1,462,004
4,132.877
Unfestr￿ted
Funds
Restricted Toial Funds
Funds
2024
TangSble fixed assets
Current assets
Creditors less than 1 year
Not a88ot•
594,832
4,849.693
717,117
717.117
(394,154) (3,721, 7441 (4,115.898}
917,795
533,117
1,450,912
4,254,861
20

Inner City Buildings Preservation Trust
Company Limlted by Guarante8
Management Information
Year ended 31 March 2025
Th• followlng pag•8 do not form part ol th• fln•ncl•l 8tat•m•nt8.
21

Inner City Buildings Preservation Trust
Company Llmited by Guarantee
Detsiled Statsment of Financial Actlvitle8
Year ended 31 March 2025
2025
2024
Income and endowments
Other tradlng actlvltl•8
Rent receivable
139,950
149,600
Inve8tmont Incom•
Bank interest
12,901
16,653
Totsl Income
152,851
166,253
Expendltur•
Costs of other tradlng actlvltlo•
Repairs and maintenance
Depreciation
3.372
42.983
20,120
42,983
46,355
63,103
Expondlture on charltablo actlvlt108
Rent
Insurance
Other motorltravel costs
Legal and professional fees
Other interest payable and slmilar charges
General expenses
Advertising
74
10,594
200
5,449
74
9,262
200
6,114
52
3,000
18,405
18,702
Total exp•ndlture
62,760
81,805
Net1088e8 on Inv•8tm•nts
Gainslllossesl on investment propety
(79,0001
(85,865}
Net Incomollexp•ndlture)
11,091
{1,4171
22

Inner City Buildings Preservation Trust
Company Llmited by Guarantee
Notes to the Detailed Ststement of Financial Activities
Year ended 31 March 2025
2025
2024
C08t8 of other tradlng actlvltle•
Repairs & maintenance
Depreciation
3,372
42,983
20 120
42,983
46,355
63,103
Costs of othèr tradlng actlvltle•
46,355
63,103
Exp•ndlture on charltable actlvltl
Actlvltl88 undertaken dlr•ctly
Advertising
Govornanca eo•t•
Rent
Insurance
Travelling and entertainment
Audit fees
Legal fees
Professional & consultancy fee8
Bank charges
General expenses
3,000
74
10,594
200
3,050
74
9,262
200
3,600
2,514
2,399
54
34
52
16,405
15,702
Expendlturo on charltable actlvltle•
18,405
18,702
23