REGISTERED COMPANY NUMBER: 08334042 (England and Wales)

REGISTERED CHARITY NUMBER: 1153929

Trustees' Report and

Unaudited Financial Statements for the Year Ended 31 December 2025

for

The Marriott's Warehouse Trust

Page

Trustees' Report

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Statement of Financial Position

5

to

6

Statement of Cash Flows

7

Notes to the Statement of Cash Flows

8

Notes to the Financial Statements

9

to

14

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2025. The trustees have adopted the provisions of 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) (effective 1 January 2019).

Objectives and activities

Objectives and aims

The Trust is a registered charity whose principal object is to advance the education of the public by establishing an exhibition and interpretation centre, and to promote the Historic Landmarks of the town of King's Lynn to increase the Public's Knowledge and awareness of the town's history. The Trust also works to promote the town's Hanseatic connections, both historic and contemporary. The Trustees have complied with the requirements of section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission.

Achievements and performance

In 2025 the Trust continued its programme of lectures and events designed to engage the public in the town's history.

Further reorganisation and upgrading of the exhibition area housing Fred Hall's models of historic buildings was undertaken, enabling the Trust to continue to meet its educational objectives and to host additional meetings and events for a wider range of community groups.

Financial review

Financial position

The major programme of backlog maintenance work agreed with the Borough Council was completed in 2025 partially supported by a grant from the CIL fund. This was the sole reason for the deficit on the income and expenditure account. In these circumstances the Trustees are satisfied with the results for the year.

Investment policy and objectives

The Trustees Investment policy is to maximise returns on the cash balances held, having due regard to risk.

Reserves policy

The charity defines its reserves as the value of those assets over and above those which are required for it to meet its current commitments and planned expenditure. Trustees aim to have sufficient reserves to enable the charity to meet its financial objectives for one year.

Future plans

The Trustees intend to continue to develop their programme of lectures and events during 2026, to promote the use of the premises for community room hire and educational purposes, and to enhance the exhibition and interpretation space.

Formalisation of a new long-term lease on the premises with the Borough Council should be concluded during 2026. The Trust continues to encourage development of the restaurant operation by the licensee within the constraints of listed building status.

Structure, governance and management

The Marriott's Warehouse Trust, a company limited by guarantee, was incorporated on 17 December 2012.

The Trustees are recruited and appointed by pro-active invitation and relevant skills and experiences are reviewed at this time. Induction and training is given when required. All Trustees give their time voluntarily and received no benefits from the Trust.

Reference and administrative details

Registered Company number

08334042 (England and Wales)

Registered Charity number

1153929

Registered office

Marriott's Warehouse

The South Quay

King's Lynn

Norfolk

PE30 5DT

Trustees

Mr P C T Gidney

Mrs M E Taylor

Mr S P Mackee

Mr G J Walker

Ms K E Heathcote

Ms D Perriss (appointed 14.8.2025)

Ms M Coleman (appointed 14.8.2025)

Company Secretary

Independent Examiner

Claire Melton

Stephenson Smart (East Anglia) Limited

Chartered Accountants

22-26 King Street

King's Lynn

Norfolk

PE30 1HJ

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 21 September 2026 and signed on its behalf by:

Mr G J Walker - Trustee

Independent examiner's report to the trustees of The Marriott's Warehouse Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 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, 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 Act'). 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 the Company 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)).

I 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.

Claire Melton

Stephenson Smart (East Anglia) Limited

Chartered Accountants

22-26 King Street

King's Lynn

Norfolk

PE30 1HJ

21 September 2026

31.12.25

31.12.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

Income and endowments from

Donations and legacies

45,808

-

45,808

891

Other trading activities

2

3,471

-

3,471

2,927

Investment income

3

30,720

-

30,720

30,850

Total

79,999

-

79,999

34,668

Expenditure on

Raising funds

-

-

-

53

Charitable activities

General charity

103,049

53

103,102

41,001

Total

103,049

53

103,102

41,054

NET INCOME/(EXPENDITURE)

(23,050

)

(53

)

(23,103

)

(6,386

)

Reconciliation of funds

Total funds brought forward

32,635

406

33,041

39,427

Total funds carried forward

9,585

353

9,938

33,041

31.12.25

31.12.24

Notes

£

£

Fixed assets

Tangible assets

7

4,342

5,108

Current assets

Debtors

8

4,267

500

Cash at bank and in hand

22,206

42,551

26,473

43,051

Creditors

Amounts falling due within one year

9

(20,877

)

(15,118

)

Net current assets

5,596

27,933

Total assets less current liabilities

9,938

33,041

NET ASSETS

9,938

33,041

Funds

11

Unrestricted funds

9,585

32,635

Restricted funds

353

406

Total funds

9,938

33,041

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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

The financial statements were approved by the Board of Trustees and authorised for issue on 21 September 2026 and were signed on its behalf by:

Mr G J Walker - Trustee

Cash flows from operating activities

Cash generated from operations

1

(20,345

)

1,929

Net cash (used in)/provided by operating activities

(20,345

)

1,929

Change in cash and cash equivalents in the reporting period

(20,345

)

1,929

Cash and cash equivalents at the beginning of the reporting period

42,551

40,622

Cash and cash equivalents at the end of the reporting period

22,206

42,551

1.	Reconciliation of net expenditure to net cash flow from operating activities

31.12.25

31.12.24

£

£

Net expenditure for the reporting period (as per the Statement of Financial Activities)

(23,103

)

(6,386

)

Adjustments for:

Depreciation charges

766

8,734

(Increase)/decrease in debtors

(3,767

)

17,389

Increase/(decrease) in creditors

5,759

(17,808

)

Net cash (used in)/provided by operations

(20,345

)

1,929

2.	Analysis of changes in net funds

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

42,551

(20,345

)

22,206

42,551

(20,345

)

22,206

Total

42,551

(20,345

)

22,206

1.	Accounting policies

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Straight line over 3 years

Fixtures and fittings

-

15% p.a. reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

2.	Other trading activities

31.12.25

31.12.24

£

£

Fundraising events

1,045

689

Room hire

2,426

2,238

3,471

2,927

3.	Investment income

31.12.25

31.12.24

£

£

Rents received

30,720

30,850

4.	Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

31.12.25

31.12.24

£

£

Depreciation - owned assets

766

8,734

Other operating leases

9,180

9,213

5.	Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

6.	Comparatives for the statement of financial activities

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

Income and endowments from

Donations and legacies

891

-

891

Other trading activities

2,927

-

2,927

Investment income

30,850

-

30,850

Total

34,668

-

34,668

Expenditure on

Raising funds

53

-

53

Charitable activities

General charity

40,938

63

41,001

Total

40,991

63

41,054

NET INCOME/(EXPENDITURE)

(6,323

)

(63

)

(6,386

)

Reconciliation of funds

Total funds brought forward

38,958

469

39,427

Total funds carried forward

32,635

406

33,041

7.	Tangible fixed assets

Fixtures

Improvements

and

to property

fittings

Totals

£

£

£

Cost

At 1 January 2025 and 31 December 2025

23,500

16,485

39,985

Depreciation

At 1 January 2025

23,500

11,377

34,877

Charge for year

-

766

766

At 31 December 2025

23,500

12,143

35,643

Net book value

At 31 December 2025

-

4,342

4,342

At 31 December 2024

-

5,108

5,108

8.	Debtors: amounts falling due within one year

31.12.25

31.12.24

£

£

Trade debtors

3,072

-

Prepayments and accrued income

1,195

500

4,267

500

9.	Creditors: amounts falling due within one year

31.12.25

31.12.24

£

£

Trade creditors

124

-

VAT

1,039

-

Accrued expenses

19,714

15,118

20,877

15,118

10.	Analysis of net assets between funds

31.12.25

31.12.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

£

£

£

£

Fixed assets

4,038

304

4,342

5,108

Current assets

26,424

49

26,473

43,051

Current liabilities

(20,877

)

-

(20,877

)

(15,118

)

9,585

353

9,938

33,041

11.	Movement in funds

Net

movement

At

At 1.1.25

in funds

31.12.25

£

£

£

Unrestricted funds

General fund

32,635

(23,050

)

9,585

Restricted funds

Lighting

406

(53

)

353

TOTAL FUNDS

33,041

(23,103

)

9,938

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

79,999

(103,049

)

(23,050

)

Restricted funds

Lighting

-

(53

)

(53

)

TOTAL FUNDS

79,999

(103,102

)

(23,103

)

Comparatives for movement in funds

Net

movement

At

At 1.1.24

in funds

31.12.24

£

£

£

Unrestricted fund

38,958

(6,323

)

32,635

Restricted funds

Lighting

469

(63

)

406

TOTAL FUNDS

39,427

(6,386

)

33,041

Comparative net movement in funds included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted fund

34,668

(40,991

)

(6,323

)

Restricted funds

Lighting

-

(63

)

(63

)

TOTAL FUNDS

34,668

(41,054

)

(6,386

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.1.24

in funds

31.12.25

£

£

£

Unrestricted fund

38,958

(29,373

)

9,585

Restricted funds

Lighting

469

(116

)

353

TOTAL FUNDS

39,427

(29,489

)

9,938

Net movement in funds included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted fund

114,667

(144,040

)

(29,373

)

Restricted funds

Lighting

-

(116

)

(116

)

TOTAL FUNDS

114,667

(144,156

)

(29,489

)

12.	Related party disclosures

There were no related party transactions for the year ended 31 December 2025.