BRADFORD BUILDING PRESERVATION TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Company Registration No. 02928606 (England and Wales)
Charity Registration No. 1039954
BRADFORD BUILDING PRESERVATION TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Tony Emmott
John Steel
Peter Meredith
Kenneth Senior
Secretary
Andrew Robertson - unitl 10 June 2024
Justin Robinson - from 11 June 2024
Charity number
1039954
Company number
02928606
Principal address
Commerce Court
Challangeway
Bradford
BD4 8NW
Registered office
Commerce Court
Challenge Way
Bradford
West Yorkshire
BD4 8NW
Accountants
Azets
Carlton House
Grammar School Street
Bradford
BD1 4NS
Bankers
Natwest Bank Plc
West Yorkshire Financial Solutions Centre
Kingsgate House
Canal Road
Bradford
BD1 4SJ
Yorkshire Bank
7 Hustlergate
Bradford
BD1 1PP
Natwest
7 Hustlergate
Bradford
BD1 1PP
BRADFORD BUILDING PRESERVATION TRUST
CONTENTS
Page
Trustees' report
1 - 2
Accountants' report
3
Statement of financial activities
4
Balance sheet
5
Notes to the accounts
6 - 10
BRADFORD BUILDING PRESERVATION TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The Trustees present their annual report and financial statements for the year ended 31 March 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019)

Objectives and activities

The objective and principal activity of the charity is to preserve for the benefit of the townspeople of the Metropolitan District of Bradford and the nation at large, whatever of the historical, architectural and constructional heritage may exist in and around the District of Bradford in the form of buildings of particular beauty or historical, architectural or constructional interest. In furtherance of the objective the charity aims to buy, lease or otherwise acquire buildings or land or any estate of interest and to sell, let on lease or tenancy or dispose of buildings or land as is reasonably necessary to ensure the preservation of the buildings or land.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake for public benefit.

Achievements and performance

The Trust acquired the Charlestown Cemetery Chapel and undertook refurbishments of the shell of the building to prevent further deterioration.

 

Refurbishment works comprised a new roof installed to current building regulation standards, renewal of rainwater goods, replacement of all windows with shatterproof material.  A damp proof course was installed and affected plaster renewed.  Remedial works for extensive dry rot have been carried out to roof and floor timbers.  The interior of the chapel has recently been re-decorated.

 

The property was offered for sale  on the open market and sold subject to contract.  Following protracted negotiations with Bradford Metropolitan District Council’s Department of Asset Management with regard to conditions of occupancy a number of purchasers have withdrawn.

 

The property is again sold subject to contract.

 

Fundraising

Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. The legislation defines fundraising as ‘soliciting or otherwise procuring money or other property for charitable purposes’. The charity does not actively raise funds from the public either directly or via use of an agent, accordingly no such amounts are presented in the financial statements for the year under review. The charity has received no complaints in relation to fundraising activity for the year under review.

Given the nature of the funding of the charity the Trustees consider that it remains appropriate not to be voluntarily bound to be regulated by the Fundraising Regulator.

Financial review

The income for the year amounted to £377 (2023 £158) with expenditure amounting to £2,563 (2023 £2,978) resulting in a net deficit of £2,186 (2023 deficit £2,820). Total funds at 31 March 2024, which are unrestricted, were £62,927 (2023 £65,113).

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately six months' unrestricted expenditure, currently £2,000. This provides sufficient funds to cover management, administration and support costs.

The charity has the power to make any investments which the trustees see fit. Any resources not required immediately are invested in interest-bearing accounts.

BRADFORD BUILDING PRESERVATION TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

The Trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to those risks.

Structure, governance and management

The Trust is a private company limited by guarantee, number 02928606 and registered as a charity, number 1039954 and is governed by its memorandum and articles of association.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Derek O' Hearne
(Resigned 10 June 2024)
Tony Emmott
Edward Robinson
(Resigned 10 June 2024)
John Steel
Peter Meredith
Kenneth Senior

In accordance with the Trust's articles, each year one third of the Trustees should stand down or be eligible for re-election. Accordingly, all the trustees stepped down and were re-elected at the Annual General Meeting on 10 June 2023.

 

New trustees are selected by interview with a panel of trustees and are trained and mentored by more experienced trustees.

 

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Indemnity insurance has not been taken out during the year.

The trustees listed above form an Executive Committee which determines the general policy of the charity and controls its day to day activities.

This report has been prepared in accordance with the provisions applicable to companies entitied to the small companies exemption.

The Trustees' report was approved by the Board of Trustees.

Edward Robinson
Trustee
Dated: 22 July 2024
BRADFORD BUILDING PRESERVATION TRUST
ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BRADFORD BUILDING PRESERVATION TRUST FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

As described on the balance sheet you are responsible for the preparation of the accounts for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet and the related notes and you consider that the company is exempt from an audit. In accordance with your instructions, we have compiled these unaudited accounts in order to assist you to fulfil your statutory responsibilities from the accounting records and information and explanations supplied to us.

 

Azets
22 July 2024
Carlton House
Grammar School Street
Bradford
BD1 4NS
BRADFORD BUILDING PRESERVATION TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2024
2023
Notes
£
£
Income from:
Donations and legacies
3
35
35
Investments
4
342
123
Total income
377
158
Expenditure on:

Charitable activities

5
2,563
2,978
Net expenditure for the year/
Net movement in funds
(2,186)
(2,820)
Fund balances at 1 April 2023
65,113
67,933
Fund balances at 31 March 2024
62,927
65,113

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

All funds are unrestricted.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BRADFORD BUILDING PRESERVATION TRUST
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 5 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
11
28,634
28,634
Debtors
12
1,345
1,203
Cash at bank and in hand
34,005
36,176
63,984
66,013
Creditors: amounts falling due within one year
13
(1,057)
(900)
Net current assets
62,927
65,113
Income funds
Unrestricted funds
62,927
65,113
62,927
65,113

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 22 July 2024
Edward Robinson
Trustee
Company registration number 02928606
BRADFORD BUILDING PRESERVATION TRUST
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
1
Accounting policies
Charity information

Bradford Building Preservation Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Commerce Court, Challenge Way, Bradford, West Yorkshire, BD4 8NW.

1.1
Accounting convention

The accounts have been prepared in accordance with the Trust's memorandum and articles of association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019). The Trust is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the Charity's objectives unless the funds have been designated for other purposes.

1.4
Income
Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Income from charitable activities is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided.

BRADFORD BUILDING PRESERVATION TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 7 -
1.5
Expenditure

Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

 

1.6
Stocks

Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

BRADFORD BUILDING PRESERVATION TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 8 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.

2
Critical accounting estimates and judgements

In the application of the Trust’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Membership fees
35
35
4
Investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
342
123
5

Charitable activities

 

 

2024
2023
£
£
Share of support costs (see note 6)
1,506
2,078
Share of governance costs (see note 6)
1,057
900
2,563
2,978
BRADFORD BUILDING PRESERVATION TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
6
Support costs
Support costs
Governance costs
2024
Support costs
Governance costs
2023
£
£
£
£
£
£

Establishment costs

1,443
-
1,443
2,015
-
2,015

Sundry and other costs

61
-
61
61
-
61

Bank charges

2
-
2
2
-
2

Accountancy

-
1,057
1,057
-
900
900
1,506
1,057
2,563
2,078
900
2,978
Analysed between
Charitable activities
1,506
1,057
2,563
2,078
900
2,978

Support costs are allocated to the Trust's only charitable activity, being building refurbishment.

7
Trustees

None of the Trustees (or any persons connected with them) received any remuneration benefits or expenses from the Trust during the current or previous year.

8
Employees
There were no employees during the current or previous year.
9
Taxation

As a charity the company is exempt from tax on income falling within part II of the Corporation Tax Act 2010 and on gains falling within s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives. No tax charges have arisen in the charity.

10
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11
Stocks
2024
2023
£
£
Raw materials and consumables
9
9
Refurbishment to Charlestown Chapel
28,625
28,625
28,634
28,634
BRADFORD BUILDING PRESERVATION TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments
1,345
1,203
13
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals
1,057
900
14
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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