|
Registered number: 01295328
Charity number: 273702
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
CONTENTS
|
|
|
Reference and Administrative Details of the Trust, its Directors and Advisers
|
|
|
|
|
Independent Examiner's Report
|
|
Consolidated Statement of Financial Activities
|
|
Consolidated Balance Sheet
|
|
|
|
|
Notes to the Financial Statements
|
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE TRUST, ITS DIRECTORS AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
|
|
|
|
|
Mr B F Gillery (resigned 14 August 2025)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mr J Long (appointed 11 November 2025, resigned 26 June 2026)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company registered number
|
|
Charity registered number
|
|
|
|
Becket's Chapel
2 Church Street
Wymondham
Norfolk
NR18 0PH
|
|
|
S A Potts (resigned 1 November 2025)
R E Constantine (appointed 3 September 2025)
|
|
|
MA Partners LLP
Chartered Accountants
7 The Close
Norwich
Norfolk
NR1 4DJ
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The Directors present their Annual Report together with the financial statements of the Group and the Trust for the year 1 April 2025 to 31 March 2026. The Annual Report serves the purposes of both a Trustees' Report and Directors' report under company law. The Directors confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Group and the Trust qualify as small under section 383 of the Companies Act 2006, the Group Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objects for which the Norfolk Historic Buildings Trust (Historic Norfolk) was established, as set out in the Memorandum of Association, are "to preserve for the benefit of the people of the County of Norfolk and of the nation at large, whatever of the historical, architectural or constructional heritage may exist in and around the County of Norfolk in the form of (a) buildings of particular beauty or historical, architectural or constructional interest; (b) ancient monuments; and (c) land of particular beauty or historical interest".
In setting objectives and planning for activities, the Directors have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
The main activity for achieving the above objectives is the purchase or lease of properties falling into the above definitions, which are often on the Buildings at Risk Register, and then arranging and funding their renovation to be followed by a subsequent sale. However, because of the nature of the property market and the number of important buildings which have limited or no resale value, a subsequent sale is not always possible and as a result the Trust has a number of buildings that it retains. Some of these are open to the public and, in some cases, they can be operated by an 'arms length company' or by sub-tenants.
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
Achievements and performance
a. Main achievements of the Trust and plans for the future
Since its formation in 1977, the Trust has completed over 20 schemes of restoration and taken on responsibility for the day-to-day care and management of several other historic buildings and structures. During 2025/2026 the majority of the Trust's attention and resources were focused on:
∙Carrying out maintenance and repairs at the Trust's properties as required.
∙The subsidiary trading company undertook to account for and report on the trading activities of Waxham Barn, Oulton Chapel and burial ground and activities at Becket’s Chapel in the year to March 2026. Historic Norfolk continues to be responsible for the maintenance of these properties.
∙We have listed building consent and planning permission for Phase 2 of the Becket’s Chapel project. This proposal includes a modern extension to the chapel housing a café and up-to-date facilities and storage. Green technologies will be used to power the whole building in line with the Net Zero principles being adopted. The minimum capital cost of this project is £1.3 million.
A continuing concern for Directors is to ensure that the Trust has sufficient reserves in place to: i) meet ongoing maintenance responsibilities and potential repair costs for its properties, especially those of little or no income-generating potential ii) provide limited funding for potential new projects, such as Becket’s Chapel. With this in mind, the Trust is now looking to actively fundraise for repair works, revenue funding to cover day to day overheads and considering ways of generating more income from its properties.
Becket’s Chapel
This formerly semi-redundant Grade I-listed and "At Risk" building is located in Wymondham town centre. The Trust acquired the chapel in September 2022 having secured in excess of £700,000 in grant funding for major repairs and an upgrade, as the first phase of the project. This work was completed in the summer of 2023 and the building has been removed from the Heritage at Risk Register. In April 2025 we were recipients of a Civic Trust conservation award, for the outstanding quality of the repair work.
During the year we completed the business case necessary to obtain funding for Phase 2 of the project. We applied to the National Lottery Heritage Fund (NLHF) for a major grant. Unfortunately, our application was unsuccessful, as NLHF now concentrates largely on historic buildings’ reuse, no longer supporting modern elements, even if they enable a more sustainable use to be developed.
Since NLHF turned down our application, South Norfolk Council have awarded us a £250,000 grant towards the project. We have applied to the Architectural Heritage Fund for a further capital grant and will make an application for a Biffa Partnership Grant during the summer of 2026. These grants are highly competitive, but if we are successful, we will be able to start work on the project in early 2027.
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
Achievements and performance (continued)
Waxham Great Barn
Waxham Great Barn continued to operate as a successful wedding and events venue as well as hosting a vibrant café, both activities being subcontracted to third parties. During the year under review, 24 weddings took place, generating £50,013 for the group.
During the year under review, the Trust completed the long-planned work to replace the ridge of the thatched roof and, shortly after the balance sheet date, the work to renovate the floor was completed. Both projects were made possible by the generous support of The Pilgrim Trust, The Headley Trust, Paul Basham Charitable Trust and The Geoffrey Watling Charity, alongside a contribution from the reserves of the Trust. The two projects will help preserve the Barn for the benefit of current and future generations.
Oulton Chapel and Burial Ground
The burial ground, in conjunction with the chapel, is generating a growing income as the burial ground becomes better established. During the year we received just over £8,000 in burial-related income. We are looking to expand the uses of the chapel for smaller wedding ceremonies and other similar events to increase the income and to endeavour to make the site economically self-sustaining. We are also conscious of the need to carry out repairs and upgrade works to the associated Manse, which is a tenanted property. The government’s more demanding energy performance requirements from 2030 will require a considerable investment in additional insulation and secondary glazing.
Personnel
During the year we said farewell to Stephanie Potts, our secretary for the past several years. We are delighted to welcome Rachael Constantine as our new secretary. Rachael has a strong media, communications and admin background and will bring different skills to support our work.
The Trust continues to seek new directors with the relevant knowledge and experience to help broaden the skill set on the board and enable it to expand its influence and involvement in its work across the county.
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
Financial review
a. Going concern
After making appropriate enquiries, the Directors have a reasonable expectation that the Trust and Group has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
b. Reserves policy
The Trust's reserves comprise Restricted reserves (representing funds received for a specified purpose) and Unrestricted reserves (comprising funds designated for specific purposes at the discretion of the Directors and General Funds).
The Directors review the Trust's Unrestricted reserves on a regular basis and, prior to the commencement of any major scheme, they ensure that, wherever possible, the projected costs will be covered by grants and other donations or the resale value of the completed scheme. Where this requires a contribution from the Trust, they ensure that any such costs to be borne by the Trust are capable of being covered by available Unrestricted reserves.
Unrestricted reserves held for the future maintenance of the Trust's freehold and leasehold properties are reviewed on a regular basis and condition reports are commissioned where appropriate to inform the levels of reserves held. In addition, a Heritage Assets reserve (matching the carrying value of the Trust's Heritage assets) is maintained, reflecting the fact that there is no current intention to dispose of any of the Trust's Heritage assets. Of the remaining reserves, an Operational reserve was established to reflect a minimum of 6 months' gross operational outgoings.
Further details are provided in Note 17 to the Financial Statements.
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
Structure, governance and management
a. Constitution
Norfolk Historic Buildings Trust is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 24 January 1977. The Memorandum and Articles of Association were replaced at the 2014 AGM and amended by a special resolution at the 2023 AGM.
b. Methods of appointment or election of Directors
The management of the Group and the Trust is the responsibility of the Directors who are elected and co-opted under the terms of the Memorandum of Association.
c. Organisational structure and decision-making policies
The Directors of the Trust form its management committee and meet between four and six times per year to consider policy issues or the acquisition and restoration of properties. They also make decisions regarding expenditure on all matters except those of a routine administrative nature, or those schemes previously approved.
d. Policies adopted for the induction and training of Directors
It is a requirement of the Articles of Association that the Directors must be members, and they are therefore already fully aware of the aims and objectives of the Trust and the way in which it operates. All Directors are experienced in their respective fields of expertise, and in the requirements and responsibilities of acting as a Director / Trustee.
e. Financial risk management
The Directors have assessed the major risks to which the Group and the Trust are exposed, in particular those related to the operations and finances of the Group and the Trust, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
f. Members' liability
The Members, who are also the Directors, of the Trust guarantee to contribute an amount not exceeding £1 to the assets of the Trust in the event of winding up.
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
Statement of Directors' responsibilities
The Directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Directors to prepare financial statements for each financial year. Under company law, the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Trust and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies and then apply them consistently;
∙observe the methods and principles of the Charities SORP (FRS 102);
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Trust's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Trust 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 Group and the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Directors and signed on their behalf by:
................................................
Mrs J M Harwood
(Chair of Trustees)
|
|
|
|
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2026
Independent Examiner's Report to the Directors of Norfolk Historic Buildings Trust ('the Group')
|
I report to the charity Directors on my examination of the consolidated accounts of the Group comprising the Norfolk Historic Buildings Trust ('the parent Trust') and its subsidiary undertakings for the year ended 31 March 2026.
Responsibilities and Basis of Report
|
As the Directors of the parent Trust (and its directors for the purposes of company law) you are responsible for the preparation of the consolidated accounts of the Group in accordance with the requirements of the Companies Act 2006 ('the 2006 Act') and you have chosen to prepare consolidated accounts for the Group. You are satisfied that the accounts of both parent Trust and the Group are not required by either company or charity law to be audited and have chosen instead to have an independent examination.
Having satisfied myself that the consolidated accounts 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 the Group's accounts carried out under section 152 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 152(5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no option as to whether the consolidated accounts present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement.
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:
|
|
accounting records were not kept in respect of the parent Trust and its subsidiaries as required by section 386 of the 2006 Act; or
|
|
|
the accounts do not accord with those records; or
|
|
|
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
|
|
|
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.
|
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.
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
This report is made solely to the Trust's Directors, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Trust's Directors those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the parent Trust and the Trust's Directors as a body, for my work or for this report.
Signed: Dated: 2 November 2026
Mr F M E Shippam BSc FCA DChA
MA Partners LLP
Chartered Accountants
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
|
|
|
|
Total funds brought forward
|
|
|
|
|
|
|
|
|
|
|
|
|
Total funds carried forward
|
|
|
|
|
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
REGISTERED NUMBER: 01295328
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
The Trust was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
REGISTERED NUMBER: 01295328
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2026
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Directors and signed on their behalf by:
................................................
Mrs J M Harwood
(Chair of Trustees)
|
|
|
|
|
The notes on pages 15 to 33 form part of these financial statements.
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
REGISTERED NUMBER: 01295328
TRUST BALANCE SHEET
AS AT 31 MARCH 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
The Trust's net movement in funds for the year was £(23,750) (2025 - £(14,774)).
The Trust was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
REGISTERED NUMBER: 01295328
TRUST BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2026
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Directors and signed on their behalf by:
Mrs J M Harwood
(Chair of Trustees)
|
|
|
|
|
The notes on pages 15 to 33 form part of these financial statements.
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Norfolk Historic Buildings Trust is registered as a charitable company limited by guarantee incorporated in England and Wales.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Norfolk Historic Buildings 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.
The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Trust and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The Trust has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.
All income is recognised once the Group has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Revenue from venue hire and event services is recognised when the wedding or event takes place, at which point the performance obligations are considered to have been fulfilled.
Deposits and advance payments received from customers are initially recognised as deferred income within creditors and are released to revenue in the period when the related event occurs.
Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
|
|
|
Tangible fixed assets and depreciation
|
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Where heritage assets have been purchased, they are initially recognised at cost. After recognition, under the cost model, heritage assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.
Where heritage assets have been donated, they are initially recognised at a nominal value of £100 each, which reflects a variety of attached long term encumbrances. Heritage assets will be revalued where a professional valuation indicates a value significantly in excess of the nominal amount. The excess of the revalued amount over the nominal amount is transferred to a revaluation reserve.
All maintenance expenditure incurred and revenue received in respect of these properties is recognised in the income and expenditure account as incurred on an accruals basis.
Heritage assets are not depreciated. An impairment review of property valuations is conducted on an annual basis.
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated Statement of Financial Activities.
Investments in subsidiaries are valued at cost less provision for impairment.
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
|
|
|
Liabilities and provisions
|
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.
General funds are unrestricted funds which are available for use at the discretion of the Directors in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Directors for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
|
|
|
Income from donations and legacies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
Income from other trading activities
|
|
|
|
Income from fundraising events
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from non charitable trading activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Events income - subsidiary
|
|
|
|
|
|
Events and rental income - charity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank interest receivable - charity
|
|
|
|
|
|
Other interest receivable - charity
|
|
|
|
|
|
Bank interest receivable - subsidiary
|
|
|
|
|
|
|
|
|
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
Analysis of expenditure on charitable activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Summary by expenditure type
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of expenditure by activities
|
|
|
|
|
|
|
|
|
|
|
|
|
Activities undertaken directly
2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
7.Analysis of expenditure by activities (continued)
|
|
|
|
|
|
|
Property maintenance and operational costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of support costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Office and administration
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
|
Independent examiner's remuneration
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fees payable to the Trust's independent examiner for the independent examination of the Trust's annual accounts
|
|
|
|
|
Fees payable to the Trust's independent examiner in respect of:
|
|
|
|
|
All other services not included above
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contribution to defined contribution pension schemes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The average number of persons employed by the Trust during the year was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
No employee received remuneration amounting to more than £60,000 in either year.
|
|
|
Directors' remuneration and expenses
|
|
|
During the year, no Directors received any remuneration or other benefits (2025 - £NIL).
|
|
|
During the year ended 31 March 2026, travel, subscription and annual party expenses totalling £434 were reimbursed to 3 Directors (2025 - £139 to 1 Director).
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
|
|
|
|
|
|
|
|
Assets recognised at cost
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term leasehold property
2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying value at 1 April 2025
|
|
|
|
|
|
|
|
|
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
12.Heritage assets (continued)
|
|
|
Analysis of heritage asset transactions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Heritage assets are included in the financial statements as follows:
The Oulton Manse, Chapel and Coach House have been included at a valuation of £350,200. This comprises a professional valuation of £290,000 in respect of the Manse, at open market value, carried out by E. Macdonald MRICS of NPS Property Consultants Limited, Norwich, Norfolk on 14 June 2002: and a Directors’ valuation of £60,200 for the Chapel and Coach House.
The freehold of Becket’s Chapel, purchased in 2022, has been included at a cost of £35,001.
The Directors have considered the valuation of the Oulton properties and Becket’s Chapel and believe that they might well be less than market value. However the Directors are reluctant to incur the cost of having professional valuations carried out.
The following properties are included at a nominal value of £100 each:
Freehold - Homersfield Bridge; Little Cressingham Windmill; Thurton Lodges.
Leasehold - Fakenham Gas Works; Waxham Barn.
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
Investments in subsidiary companies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following was a subsidiary undertaking of the Trust:
|
|
|
Registered office or principal place of business
|
|
|
NHBT Trading Company Limited
|
|
Becket's Chapel, 2 Church Street, Wymondham, Norfolk, NR18 0PH
|
Commercial activities of the Trust
|
|
|
|
Included in consolidation
|
|
|
|
|
The financial results of the subsidiary for the year were:
|
|
|
|
Profit/ (Loss)for the year
£
|
|
|
NHBT Trading Company Limited
|
|
|
|
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
Due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prepayments and accrued income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings
|
|
|
|
|
|
|
Other taxation and social security
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred income at 1 April 2025
|
|
|
|
|
|
|
Resources deferred during the year
|
|
|
|
|
|
|
Amounts released from previous periods
|
|
|
|
|
|
|
|
|
|
|
|
|
|
£2,717 (2025 - £10,855) of the deferred income above relates to weddings to be held after 31 March 2027 and is therefore disclosed in note 16 as due after more than one year.
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
|
Creditors: Amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
Statement of funds - current year
|
|
|
|
|
Balance at 1 April 2025
£
|
|
|
|
Balance at 31 March 2026
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maintenance reserve - Oulton Chapel, Manse and Coach House
|
|
|
|
|
|
|
|
Maintenance reserve - Thurton Lodges
|
|
|
|
|
|
|
|
Maintenance reserve - Homersfield Bridge
|
|
|
|
|
|
|
|
Maintenance reserve - Waxham Great Barn
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beckett's Chapel - Phase II
|
|
|
|
|
|
|
|
Waxham Barn - roof and flooring renovation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
Statement of funds (continued)
|
|
|
|
|
Balance at 1 April 2025
£
|
|
|
|
Balance at 31 March 2026
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Waxham Barn - roof and flooring renovation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The designated maintenance reserve funds are based on projected future maintenance and restoration costs.
Funds have been designated to a Heritage assets reserve reflecting the fact that the Trust’s heritage assets, principally comprising the freehold interests at Oulton (Manse, Chapel and Coach House) which are included on the Trust’s balance sheet at £385,701, are permanent in nature and are unlikely to be realised on the medium to longer term.
The operational reserve has been established to support the Trust should income streams no longer be available and provide sufficient reserves to cover the gross cost base for a period of six months.
The Becket's Chapel restricted fund was established having secured grants for the phase 1 repair work to the chapel from Historic England, the Architectural Heritage Fund, Norwich Freemens Charity, The Pilgrim Trust, The Headley Trust and the Geoffrey Watling Charity. During the year ended 31 March 2025, the Charity incurred costs of £53,347 on a chandelier for the Chapel. As the restriction attached to the funds were met upon acquisition of the asset, a corresponding transfer has been made from restricted funds to general funds. The asset will be held as a fixed asset and depreciated over its useful life through general funds.
The Waxham Barn restricted fund was established having secured grants for work to replace the ridge of the thatched roof and, shortly after the balance sheet date, the work to renovate the floor was completed. Both projects were made possible by the generous support of The Pilgrim Trust, The Headley Trust, Paul Basham Charitable Trust and The Geoffrey Watling Charity, alongside a contribution from the reserves of the Trust. The two projects will help preserve the Barn for the benefit of current and future generations.
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
Statement of funds (continued)
|
|
|
|
Statement of funds - prior year
|
|
|
|
|
Balance at
1 April 2024
£
|
|
|
|
Balance at
31 March 2025
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maintenance reserve - Oulton Chapel, Manse and Coach House
|
|
|
|
|
|
|
|
Maintenance reserve - Thurton Lodges
|
|
|
|
|
|
|
|
Maintenance reserve - Homersfield Bridge
|
|
|
|
|
|
|
|
Maintenance reserve - Waxham Great Barn
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commitments to projects
Beckett's Chapel - Phase I
|
|
|
|
|
|
|
|
Beckett's Chapel - Phase II
|
|
|
|
|
|
|
|
Waxham Barn - roof and flooring renovation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
Statement of funds (continued)
|
|
|
|
|
Balance at
1 April 2024
£
|
|
|
|
Balance at
31 March 2025
£
|
|
|
|
|
|
|
|
|
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
Summary of funds - current year
|
|
|
|
|
Balance at 1 April 2025
£
|
|
|
|
Balance at 31 March 2026
£
|
|
|
|
Summary of funds - prior year
|
|
|
|
|
Balance at
1 April 2024
£
|
|
|
|
Balance at
31 March 2025
£
|
|
|
|
Analysis of net assets between funds
|
|
|
|
Analysis of net assets between funds - current year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors due within one year
|
|
|
|
|
|
Creditors due in more than one year
|
|
|
|
|
|
|
|
|
|
|
|
NORFOLK HISTORIC BUILDINGS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
19.Analysis of net assets between funds (continued)
|
|
|
Analysis of net assets between funds - prior year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
Creditors due within one year
|
|
|
|
|
|
Creditors due in more than one year
|
|
|
|
|
|
|
|
|
|
The Trust operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Trust in an independently administered fund. The pension cost charge represents contributions payable by the Trust to the fund and amounted to £79 (2025 - £168). No contributions were payable to the fund at the balance sheet date.
|
|
Related party transactions
|
|
|
Details of Directors' remuneration and expenses are given in note 10. There were no other related party transactions during the year and there were no balances owing between related parties and the Trust at 31 March 2026.
|
|