Building a Better Future from Our Past Annual Report 2015–16 CONTENTS Annual Report 2015-16 Building a Better Future from Our Past

5 LATIMER STREET Romsey, Hampshire | England Romsey & District Buildings Preservation Trust | www.romseydistrictsociety.co.uk/building-preservation-trust The Architectural Heritage Fund Building a better future from our past | Annual Report 2015–16

Building a better future from our past Annual Report 2015–16 www.ahfund.org.uk CONTENTS Annual Report 2015-16 Building a better future from our past

Our ambition is to ensure as many people OVERVIEW ABOUT THE ARCHITECTURAL HERITAGE FUND as possible can enjoy the cultural, social 2 | About the AHF and economic benefits of a vibrant and 4 | Our impact well-managed architectural heritage. 8 | The year in numbers 10 | FROM THE CHAIRMAN 11 | CHIEF EXECUTIVE’S REPORT

SUMMARISED FINANCIAL STATEMENTS 67 | SUMMARISED STATEMENT OF FINANCIAL ACTIVITIES 68 | SUMMARISED BALANCE SHEET

Front cover: Clevedon Pier, Clevedon, North-West Somerset / Photography courtesy: © Craig Auckland – fotohaus

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OVERVIEW About the AHF

The AHF is a registered charity, founded in 1976 to promote the conservation and sustainable re-use of historic buildings for the benefit of communities across the UK, particularly in economically disadvantaged areas.

The Memorandum of Association defines Mission the AHF’s charitable objects as: To use our knowledge, experience and • to promote the permanent preservation resources to ensure as many people for the benefit of the public generally of as possible can enjoy the cultural, social buildings monuments or other edifices or and economic benefits of a vibrant and structures of whatsoever kind and whether well-managed architectural heritage. permanent or attaching to land or not and wheresoever in the United Kingdom situate Objectives of particular beauty or historical architectural Objective One: To support people, or constructional interest; communities and organisations to take ownership, repair and adapt historic buildings • to protect and conserve or promote the and places for new sustainable uses. protection and conservation of the character and heritage of the cities towns and Objective Two: To attract more investment villages in and around which such buildings for the conservation and sustainable re-use monuments or other edifices or structures of the UK’s architectural heritage. exist; Objective Three: To inspire the start-up • to advance public education of and interest and growth of new community enterprises in the history of the United Kingdom and that utilise historic buildings and places its people and thereby to promote public for public benefit. taste and education in and concerning the Objective Four: To demonstrate the value conservation of its creative heritage and of a well-managed historic environment by the encouragement of aesthetic standards championing and showcasing the impact attaching to its contemporary environment. of the projects we have supported.

We seek to achieve our objects primarily by Implementation of policy providing advice, information and financial Annual income is derived from interest on assistance in the form of early project grants, loans and bank deposits, Government grants competitive short-term loans and other for particular programmes, donations forms of investment, to projects that have the and legacies, and sundry other sources. potential to deliver substantial cultural, social This income is used to finance the AHF’s and economic benefits in places where they grant-making activities and to cover its are needed most. operating costs.

The AHF translates its charitable objects In most years, the primary cost of generating into a mission statement and strategic voluntary income is internal, involving objectives, as follows: negotiation with, and reporting to, the AHF’s three Governmental funders.

Clockwise from left: Knockando Woolmill, Moray / Photography © Colin McLean West Boathouse, Glasgow Green / Photography © Colin McLean Over 500 Pipe Factory (Phase 1), Glasgow / Photography © SIG OHA Hastings Pier, Sussex projects supported and/or Ashton Gate, Bristol / Photography © Nick Church funded by AHF during 2015/16

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OVERVIEW About the AHF

Public benefit The Trustees confirm that they have CLIENT OUTCOMES complied with the duty in Section 17 of the Based on a survey of AHF clients from the last 15 years. Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit. As a UK-wide charity enabling not-for-private-profit organisations to save and preserve the nation’s built heritage – with educational and capacity-building programmes as well as with financial support – the AHF’s public impact is significant both 89% locally and nationally. of AHF clients are more confident about 93% Our impact the future of their organisation as a result of AHF clients have an increased appreciation Since 1976 the AHF has awarded loans of AHF support of heritage as a result of their project with a total value of £124m to 900 projects across the UK and has made more than 1,200 individual early project grant offers totalling over £10m.

Since 2000 293 projects have been completed as a result 91% of an AHF investment of £3.7m of grants and of clients believe that AHF support has increased £46.5m of loans, levering in over £402.5m their credibility to other potential funders and from other sources, including £151m from 71% say that AHF support helped them secure the National Lottery and £171m from trusts, additional funding from other organisations foundations and commercial investment.

66% of AHF-supported projects have resulted in the 63% re-use of a historic building and seven out of ten of clients are confident they would AHF clients consider themselves more financially undertake a similar project in the future sustainable as a result of the AHF support

Since 1976 87% 2,000 the AHF has awarded loans of organisations have engaged with a at least 2,000 people have developed new skills in to 900 projects across the UK wider audience (different ages, backgrounds, 88% community engagement, as well as 1,000 people in cultures) than before as a result of their of clients have developed new formal or business planning, strategic development, financial AHF-supported project informal partnerships thanks to AHF support and project management and fundraising

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OVERVIEW About the AHF

COMMUNITY OUTCOMES Based on a survey of AHF clients from the last 15 years. 77% 19,000+ of survey respondents felt that that their local community members have been directly 500+ 7,000+ community is a better place to live/work involved in projects over the last year (either commercial businesses are being run from community events have as a result of the AHF-supported project coming to meetings or volunteering their time) buildings restored thanks to AHF support been held in the last year 350+ community services are being provided 12,000+ from buildings restored thanks to volunteering opportunities have been AHF support created with an average of 117 days each

11% 4,000+ of the not-for-profit community services being training opportunities have been created, provided from AHF-supported project buildings, of which over 1,000 were for young people only 11% have ‘competitors’ in the local area 261,000+ people have attended events held as a result of gva £106m 178,000+ 646,000+ an AHF-supported project, of which at least 20,000 AHF-supported projects have added at least people have visited an AHF-supported people have visited an AHF-supported are children or young people, and at least 9,000 £106m Gross Value Added to local businesses project in the last 12 months for project in the last 12 months for leisure are adults from disadvantaged groups during the building works phase sport purposes or recreation purposes 2,000+ 31,000+ FTE employment opportunities have been created have visited an AHF-supported project during project works, with an additional 1,000 FTE in the last 12 months for reasons of training opportunities ongoing once works are complete and education

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OVERVIEW The year in numbers

ADVICE GRANTS LOANS

97 £13,283,970 550 grant applications were received AHF managed capital funds for enquiries responded in 2015-16, requesting a total of lending in the UK comprising: to by the AHF, in 2015-16 just under £1m £1,670,009 64 grant offers were made, Unrestricted designated amounting to lending fund £375,033 S 270 were new clients E S £4,084,454 £210,200 was offered £11,613,961 Scotland S Endowment funding restricted by to projects in Scotland W UK source, which comprises: £155,433 was offered E to projects in England £6,400 was offered 421 W enquiries were about projects that to projects in Wales UK are seeking to repair and find new WIDE £3,000 was offered to uses for listed buildings NI NI projects in Northern Ireland £364,344 UK-wide E 23 152 grant offers were for buildings £6,718,163 enquiries were about historic buildings listed at the highest grades – England officially designated as ‘at risk’ Grade I and II* in England and 18 Wales; Category A in Scotland loan offers totalling just over: W £447,000 £3m Wales (£2m in new lending 35% 26 and £1m in extensions) of queries related to projects grant offers were for buildings involving a potential Asset Transfer on national ‘at risk’ registers

1/3 63% one third of all enquiries related of grantees (40 out of the 64) to projects involving community were organisations that had never businesses previously applied for AHF funding £435,000 total of community shares the AHF has purchased from five of its Borrowers

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FROM THE CHAIRMAN THE CHIEF EXECUTIVE’S REPORT

Liz Peace CBE Ian Morrison Chairman Chief Executive

It is a pleasure to introduce the AHF’s annual long-term finance to enterprises through My first year at the AHF has been both As we go into our 41st year, our motivation report for 2015-16, my first as Chairman. the purchase of community shares. These challenging and rewarding in equal measure. remains to ensure the benefits of our developments have been made possible by It has been an absolute pleasure to witness precious architectural heritage reach as many I was delighted and honoured to be asked the very generous donations received from the positive impact of the projects we people as possible. I am confident that we will to take over as Chairman of the AHF, an our Government funders, particularly from the support, transforming the quality of the built see further expansion and improvements organisation with which I was very familiar Department for Culture, Media and Sport, environment and providing hope, inspiration to our advice, grants and loan services over during my tenure as Chief Executive at the Historic England, Historic Environment and life-changing opportunities to people the years ahead. We will continue to target British Property Federation. I have always been Scotland and the Welsh Government. across the UK. Of course, credit for the our resources effectively, influence and work struck by the tremendous contribution the achievements of the projects listed in this in partnership with others, ensure we are AHF and its clients make to the conservation Much has been achieved over the last year report rests primarily with the community efficient in all that we do, and reach out to of this country’s valuable and irreplaceable and we have good reason to look ahead with organisations that deliver them and communities that need our help most and architectural heritage. I have seen first-hand renewed optimism. For this, the AHF owes particularly with the extraordinary individuals where the impact of our work will be most how communities across the UK can benefit a great debt to the its previous Chairman, who freely dedicate so much of their time strongly felt. from projects that repair and re-use historic Merlin Waterson, who stepped down in and energy to help others. Yet, the impact buildings that have become run-down and September 2015 after initiating many of the measurement work we have undertaken this Finally, and with great sadness, we recently neglected. Breathing new life into these structural changes the organisation required. “I have seen first-hand how year unequivocally demonstrates the AHF’s learned of the passing of Rosemary Watt, “We will continue to target our wonderful assets can help people feel more Merlin made a huge personal contribution to communities across the UK vital role with supporting these groups the AHF’s first administrator and a key driving resources effectively, influence positive about their place, encouraging them the AHF over his extraordinary 16-year tenure can benefit from projects and people along their journey, giving them force behind the expansion of the Building and work in partnership with to take inspiration from their past and as a Trustee, and he must take credit for many that repair and re-use historic the resources and confidence to realise Preservation Trust movement throughout others, ensure we are efficient gain more confidence about their future. of the achievements listed in this report. buildings that have become their goals. We could not do what we do the 1970s and 1980s. As a result of her in all that we do, and reach run-down and neglected. without our highly dedicated employees and selfless dedication, enthusiasm, knowledge out to communities that need Against a backdrop of unprecedented We have also said goodbye to Michael Hoare, Breathing new life into these contracted support officers or the incredible and personable approach, Rosemary directly our help most and where political, economic and social changes, Douglas Reid and Roy Dantzic, all of whom wonderful assets can help generosity of those who sponsor us. encouraged more and more people to set the impact of our work will the opportunities for communities to made a significant contribution to the AHF people feel more positive up trusts and take up the challenge of giving be most strongly felt” take responsibility and ownership of their as Trustees before retiring at the end of their about their place, encouraging Our effectiveness is increased where we work new life to much-loved historic buildings. Her local heritage assets continue to grow. respective terms on the Board. They will them to take inspiration from in partnership with others, and over the last contribution to the UK’s heritage was rightly The imaginative and creative re-use of be sorely missed. As Deputy Chairman, Roy their past and gain more year we have strengthened our relationships recognised with the award of an MBE in 1989. historic buildings has the potential to bring Dantzic also had a direct hand in the reform confidence about their future” with other key organisations, including Historic The AHF was very fortunate to enjoy her communities together by providing inspiring of the AHF and I am particularly grateful for Environment Scotland, Historic England, services for 15 years up to her retirement spaces that can be shared by everyone and his support during the first few months of the National Trust, Civic Voice, the Heritage in 1990. We send our sincere condolences from which new relationships can be forged my chairmanship. On a more positive note I Alliance, Power to Change, the new to Rosemary’s family and friends. and new enterprises can flourish. The need am delighted to welcome Roy Hodson to the Department for Communities in Northern for the AHF’s advice, grants and loans services Board. Roy brings considerable expertise to Ireland, Cadw and the Welsh Government, is greater now than at any time in our the AHF as a result of his 26 years as a partner and of course the Heritage Lottery Fund. We forty-year history. of PricewaterhouseCoopers (PwC), the largest are especially delighted to see the re-birth of professional services firm in the world. Roy the Building Preservation Trust movement in Over the last year we have implemented a has agreed to chair the AHF’s Audit & Risk the form of the Heritage Trust Network, a vital comprehensive reform programme, reducing Committee, a role he also performed for PwC. partner for the AHF and with whom we hope our costs and strengthening our governance, to collaborate closely in the future. We have to ensure the AHF is in the best possible also enjoyed working with CAN Invest on our shape to respond to the opportunities impact measurement framework, a tool that presented and the demands imposed by allows us to report on the difference we make an ever-changing external environment. and to guide the development of our services. We have expanded our front-line services by substantially increasing the amount of money we distribute in the form of grants and loans and by recruiting more support officers with the skills and experience that our clients need. We have also listened to the requirements of our borrowers and introduced an equity investment strategy, whereby we can provide

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TRUSTEES’ REPORT Achievements against our strategy Objective One To support people, communities and organisations to take ownership, repair and adapt historic buildings and places for new sustainable uses.

The AHF offers early project advice, grants and The majority of enquiries were related to Table 1 / About the Project investment to projects that have the potential early project development, where advice to deliver substantial cultural, social and was sought on governance, project viability Listed 421 economic benefits. We are frequently the and project planning, and fundraising. This

first point of contact for most community is as expected and reflects the AHF’s focus Conservation Area 183 groups who are seeking to rescue and on providing guidance early on and setting re-utilise a historic building which they our clients off down the right path, saving On At Risk Register 152 value. AHF support is often crucial in helping time and money. communities develop their initial ideas and make successful bids for project funding, However, we also received a significant Other type of At Risk 120 particularly from the Heritage Lottery Fund number of enquiries from organisations (HLF). Therefore, our seed grants lever that had already successfully delivered 0 25 50 75 100 125 150 175 200 225 250 275 300 325 350 375 400 425 in substantial additional investment. at least one project and were looking to move Table 2 / Type of Enquiry on to another. This is a very encouraging 300 We have continued to consolidate and grow development that suggests Building 250 our support for community-led schemes to Preservation Trusts in particular are

repair and re-use historic buildings at risk, responding to new opportunities created by 200 by providing more advice, grants and loans, the transfer of publicly-owned heritage assets and by disseminating information about our and by new sources of funding (such as the 150

work and that of our clients. Heritage Lottery Fund’s Heritage Enterprise 100 grant programme) and are becoming more Advice active after a relatively quiet period over 50

Over the last year we responded to more recent years. Approximately 35% of queries 0 than 550 enquiries from community related to projects involving a potential First contact with new client Existing client, new project Existing project, new client Follow up – dealt with client previously organisations seeking guidance on rescuing asset transfer. Table 3 / Theory of Change Project Journey

historic buildings that were important to 120 them. The vast majority of projects involved The distribution of enquiries from across the buildings that are either listed or in a UK illustrates the impact of the AHF’s Support 100

conservation area (or both), and 50% of these Officers, of which we currently have four 80 are either formally designated as ‘at risk’ or operating in England and one in Scotland. considered to be under immediate threat. 80% of enquiries were from England and 60 17% from Scotland, whereas only 3% were 40 Of the 550 enquiries responded to, 270 from Wales and Northern Ireland. (just under 50%) were from community 20 organisations which had not had any contact 0 Client adopts formal Develops / improves Secures funding to Project moves from Heritage building in Group begins Capital works with the AHF before. This is an encouraging legal structure project plan proceed to design viability to building socially productive use new projects sign and early vindication of our strategy to broaden our client base beyond the Table 4 / Region or Nation traditional Building Preservation Trust 1 19.5% / England / South West 11 12 (BPT) organisations and to reach out to new 10 2 17% / Scotland audiences, particularly from the community 9 1 3 13.5% / England / South East 8 development sector. 4 13% / England / North West

5 10% / England / East Midlands 7 6 6% / England / West Midlands

7 5.5% / England / East 6

8 5.5% / England / Yorkshire & Humber 2 9 4.5% / England / London 5 550 enquiries 10 3% / Wales were responded to by 11 2% / England / North East Clockwise from right: 12 0.5% / Northern Ireland 4 3 the AHF over the last year Lowther Castle, Cumbria Non-conformist Chapel, Sheffield General Cemetery / Photography © Matt Monfredi Kelvingrove Park Bandstand, Glasgow

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TRUSTEES’ REPORT Achievements against our strategy Objective One

Grant-making Project development grants Loans and other investment Summary of current loan book Last year we undertook a comprehensive The project development grant (PDG) is Early project grants Loans and other forms of investment (i.e. review of our grant programmes, application intended to assist applicants with the costs at-a-glance community share purchases) are available criteria and processes, seeking the views of developing and co-ordinating a building for the purposes of working capital and/or of our funders, our clients and the sector repair or conversion project after basic acquisition, and in some instances bridging to ensure we are offering the right form of viability has been established and up to 97 facilities and business development. The 35 loan facilities have been disbursed, either partially or in full financial support at the right time and in the the point the project goes on site. Grants grant applications were recipient should usually have, or acquire, right places. The review concluded that our may be applied for in stages according to received by the AHF in 2015/16, title to the project building. In most cases two grant programmes are still fit for purpose, the needs of the project as it progresses. requesting a total of £974,167 the AHF requires security for the loan, either but greater transparency was needed to in the form of a formal repayment guarantee demonstrate how we make decisions on The AHF received 97 grant applications 2/3 or a first charge over any property to which in 2015/16, requesting a total of £974,167. applications. As a result, we have produced of the applications submitted a free and marketable title can be offered. Demand continued to rise throughout the 51% 49% new guidance that clearly sets out how we were offered help, but only are due to be redeemed are due to be redeemed year, with the result that whilst we were able within 18 months between 18 months and assess applications and that explains the 40% of the funding requested The extent to which the AHF is able to to support two-thirds of the organisations 5 years outcomes we are seeking to achieve with our was provided implement its policies is determined by funding. We have placed greater emphasis from which applications were received, the level of demand for its services and by on community businesses and on social we could only provide 40% of the funding the size of its funds. The endowment fund, impact in addition to our continuing support requested. In many cases we offered less 64 a capital fund devoted to the provision of for heritage at risk. grant than was applied for, but in every grant offers were made in loans, is composed of Government grants case the applicant was able to make up the 2015/16 by the AHF, totalling and private sector donations made since 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100 The AHF offers two grant programmes, shortfall with funding from elsewhere. £375, 033 1976. The endowment fund cannot be which are financed by grant-aid from Historic The reason for the increase in demand is spent; however, it may incur capital losses unclear, although greater numbers of projects England, Historic Environment Scotland and £210,200 on loans or other investments. 71% 14% 11% 4% Cadw, and from interest income derived from involving community organisations taking over worth of grants offers were of facilities are secured by a guarantee are unsecured the remainder is secured AHF’s lending function and bank deposits: former publicly-owned buildings suggests that made to projects in Scotland 2015/16 was a year of transition for the by a legal charge by alternative means asset transfer is likely to be a significant factor. lending function of the AHF. Due to a general Project viability grants position of full commitment of our capital The project viability grant (PVG) scheme is 64 grant offers were made, amounting to £155,433 there was no requirement to promote to projects in England intended to provide an initial assessment £375,033. Of this total, £210,200 was offered proactively the loans programme, with latent of the viability of bringing an eligible to projects in Scotland, £155,433 to projects demand proving sufficient to replace those historic building back into sustainable use in England, £6,400 in Wales and £3,000 in £6,400 facilities repaid during the year. As we entered 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100 and the social and economic impact that Northern Ireland. Further details of these to projects in Wales 2016/17, owing to both the redemption of will be achieved as a result. In particular, grants are set out below. several large loans and the generosity of our the assessment will be required to explore funders, a significant amount of capital has 22% 37% 41% £3,000 of borrowers are making regular are making regular interest will make no scheduled payments the evidence of the need for, and the 23 grant offers were for buildings listed at the again been made available and the AHF is to projects in Northern Ireland interest and capital payments payments until the loan is redeemed sustainability of, the building’s suggested highest grades – Grade I & II* in England and expanding its programmes to reach a greater during the terms of the loan use, especially with a view to the likely Wales; Category A in Scotland. 26 grant offers number of social enterprises and community requirements of grant funders. Viability were for buildings on national ‘at risk’ registers: 63% businesses. The Investment Team, which Appraisals are essential for any community the Buildings at Risk Register for Scotland (18) of grantees were organisations administers the loan book and manages all enterprise start-up seeking to develop a and the Heritage at Risk Register maintained that had never previously applied lending-related activity, has recently doubled business plan and attract investment. by Historic England (8). for AHF funding in size and will be looking to launch new loan programmes in the year ahead. 40 out of the 64 grantees (63%) were organisations that had never previously 10 12 – 36 applied for AHF funding, demonstrating 10 further loan offers, as yet all have a term between that our policy to broaden our client base undisbursed, have been made 12 months and 36 months is working well. 2 grant programmes are offered by AHF, financed by grant-aid and interest income

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TRUSTEES’ REPORT Achievements against our strategy Objective One

In accordance with our policy of promoting Of the endowment funding of £11,613,961, Performance of loan book the sustainable conservation of historic £500,000 is held as property, £435,000 as During 2015 a Portfolio Management System buildings, the AHF is prepared to take community shares and £891,226 is set aside (PMS) was introduced to provide a more considered financial risks if the social impact for bad debt provision. structured monitoring process of the of a particular scheme is considered sufficient AHF’s existing loans. All borrowers are now to warrant this. We mitigate this risk by setting At the end of March 2016, the aggregated routinely contacted every quarter to provide aside a proportion of our funds as bad debt loan portfolio showed a drawn balance of performance data required under the provision (currently estimated as 4.2% of loan £6,532,155 across 36 unique borrowers, terms of the loan agreements. The PMS also disbursements, based on historical data). with a further £2,776,990 committed but includes a traffic light system to categorise not yet disbursed. Given our current lending loans by risk of default. The current status During 2015/16, 18 loan offers were made to commitments of £9,309,145, as of 1 April of the loan book is as shown below. organisations across the UK – to borrowers 2016 the AHF had £2,148,599 available for both new to the AHF, and existing – totalling lending to new projects. It is our intention to over £3m (£2m to new borrowers and £1m commit fully these funds during the course in extensions to existing borrowers). A short of the next 18 months as we introduce our programme of community share purchase, new loan programmes. which was completed just ahead of the end Current status of the loan book of the financial year, also saw the AHF take £435,000 of shares in five of our existing Category Description Risk of Percentage default of loan book clients. Undrawn Loans offered but not disbursed Low 27% The total amount of AHF managed capital funds for lending in the UK are £13,283,970 Green Loans disbursed Low 52% comprising: Payments made on schedule and • Unrestricted designated lending fund Balance sheet and cash flow of £1,670,009; and forecasts show no concern • Endowment funding restricted by source of £11,613,961 Amber Loans disbursed Medium 11% Payments deferred and/or Balance sheet and cash flow forecasts show signs of weakness

Red Loans disbursed High 2% Payments missed and Balance sheet and cash flow Anti-clockwise from above: forecasts show signs of weakness Citizens Theatre, Glasgow / Photography © Colin McLean Oldpark Carnegie Library, Belfast Cromford Mills, Derbyshire / Photography © Ashley Franklin Photography Non-performing Loans disbursed High 8% Rockfield Centre, Oban Loan unlikely to be repaid in full Bad debt provision made for a proportion of the outstanding loans

£13,283,970 total sum of AHF managed capital for lending in the UK

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TRUSTEES’ REPORT Achievements against our strategy Objective Two To attract more investment for the conservation and sustainable re-use of the UK’s architectural heritage.

The AHF’s approach to encouraging The core purpose of the AHF is to provide The additional £3m of Government funding Strathclyde Building Preservation communities develop new enterprises in acquisition and working capital loans for for the AHF is almost entirely for frontline Trust SBPT Legacy Fund historic buildings has evolved over the last historic building projects. It is our ambition to services, and as a result our annual grants Late in 2015 the Members of the Strathclyde 40 years. We know that the introduction grow significantly our loan book and increase budgets for the UK has increased by nearly Building Preservation Trust decided to close of our Support Officers and early project the size of our restricted lending resources 300% to £1,145,000 each year for the next after 30 years of operation and transfer its grants in addition to our loans have made over the coming years. three years. This investment will also allow us remaining funds of £69,000 to the AHF to a huge impact. Together they provide to respond to the growing demand for early form a ‘SBPT Legacy Fund’, with the explicit a highly effective and proven model of However, our advice and grant programmes project grants as communities take on the intention of supporting another charitable support. Demand for all of our services are equally important. During 2014 we ownership and management of heritage organisation to complete the restoration of – advice, grants and loans – has increased commissioned an evaluation of how our assets previously looked after by the state. Shawmuir Lodge in Pollok Park in Glasgow. consistently over the last few years, partly work is perceived by external stakeholders. Our research has shown that these grants will Should these funds not be spent for this as a result of an escalation in the transfer of The results unequivocally demonstrated help our clients undertake essential early purpose, they will be re-allocated to support heritage assets from government ownership the crucial role AHF early project grants and project development work. Nine out of 10 other deserving built heritage projects within and partly because of growing interest in Support Officers play in helping communities of the AHF’s clients credit our support with the former Strathclyde region. The AHF was historic buildings by community businesses. find sustainable (and often commercial) uses building their credibility with other funders pleased to assist SBPT in this way and to for locally valued buildings. On the back of and seven out of 10 have secured significant ensure all of the trust’s charitable funds are We have sought to keep pace with this our evaluation work, we were able to secure additional funds directly as a result of the invested in the conservation and sustainable demand by making the case for further a three-year funding agreement with Historic AHF’s help. re-use of the UK’s architectural heritage. No investment from our government sponsors, England to extend the contracts of the four fee is being charged for the administration and they have responded generously. During current Support Officers through to 2019. A survey of projects completed between 2000 of the SBPT Legacy Fund and the full £69,000 2015/16 we received significant contributions We have also received £3m new funding from and 2015 showed that AHF grants totalling will be invested. of £1,233,485 to our endowment funds the Department for Culture, Media and Sport, £3.7 million and loans worth £46.5 million for onward investment, comprising: announced in the Culture White Paper1, to helped finance the rescue of 293 historic We hope the SBPT Legacy Fund will set appoint an additional four Support Officers buildings at risk across the UK. These a useful precedent for other trusts and • £435,000 from the Department for for three years, bringing the total number completed projects levered in an impressive foundations that are no longer active and Culture, Media and Sport, to finance operating in England to eight. A similar funding £402 million in additional investment. who wish to find a more efficient mechanism a community share purchase scheme agreement is being sought with Historic Moreover, an analysis of a sample of projects for achieving their charitable objectives • £567,485 from Historic Environment Environment Scotland to extend our Support that benefitted from an early development that meets the requirements of the Charity Scotland, for lending to historic building Officer services in Scotland for another three grant indicated that they were far more likely Commission and Office of the Scottish Charity regeneration projects in Scotland years. Also, we are currently taking forward to achieve success with their grant application Regulator (OSCR). negotiations with government agencies, to the Heritage Lottery Fund than those that • £231,000 from the Welsh Government, trusts and foundations that are active within had not received AHF grants. also for lending to historic building Wales and Northern Ireland to see whether renovation projects in Wales we can extend our support officer network We estimate that up to £285m will be secured to cover the whole of the UK. for the conservation and sustainable re-use of the UK’s architectural heritage as a direct result of the increase in our grant-giving over the next three years.

8 AHF Support Officers now operating in England Left to right: through until at least 2019 Dunoon Burgh Hall, Argyll & Bute Ashton Gate, Bristol / Photography © Nick Church Ashton Gate, Bristol / Photography © Nick Church 1. https://www.gov.uk/government/publications/culture-white-paper Pipe Factory (Phase 1), Glasgow / Photography © SIG OHA

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TRUSTEES’ REPORT Achievements against our strategy Objective Three To inspire the start-up and growth of new community enterprises that utilise historic buildings and places for public benefit.

In 2015 we took the strategic decision to We expect this proportion to grow over the It is still early days but our client data indicates We will continue to work closely with our prioritise support for community businesses coming years, given that Heritage Enterprise that interest in heritage by community partners in the heritage sector and with based in locally valued historic buildings, is still a relatively new programme (launched enterprises is growing, partly as a response community business networks to develop as we believe such enterprises have greater in 2013) and there is a significant pipeline of to the AHF’s proactive approach to building creative new ways for using heritage for potential to deliver positive social and AHF-supported projects under development relationships. The majority of enquiries and social and economic good, and we will seek to economic impact. Our research has shown that are intending to apply to the grants applications received by the AHF continue identify and focus on places where the impact that AHF-supported projects over the last programme. to be from charitable companies limited by of our work will be greatest. A comparison of 15 years have contributed at least £106m guarantee but there has been a modest but our client data with statistics on the growth of GVA (Gross Value Added) to local businesses Our Support Officers are pivotal in building significant increase in interest from other new community enterprise2 suggests there is during the building works phase. We want enterprise in the heritage sector, often acting types of organisations, including Community good potential to develop new partnerships to extend this significant contribution to the as a bridge to bring together heritage groups Benefit Societies (ComBens), Community particularly in the West Midlands and local economy beyond the completion of with social enterprises; 88% of our clients Interest Companies (CICs) and Charitable Yorkshire and Humber regions, which have renovation work by encouraging our clients have developed new formal or informal Incorporated Organisations (CIOs). These a high density of new community business to establish trading businesses that will bring partnerships thanks to AHF support. Our early legal organisational forms are far more likely start-ups but where AHF activity is relatively sustained commercial activity to areas that project grants help community groups test to be operating principally as a commercial low compared to the rest of the UK. We want are often in greatest need of investment. out the viability of their project ideas, develop entity, deriving most of their income from to build on our past successes, which over credible plans, and build the skills they need trading activities. the last 15 years have seen more than 350 We have sought to meet this objective by to run commercial enterprises from their community services and 500 businesses encouraging greater participation from restored historic building; our grants have being established and run from buildings heritage groups with new voluntary sector helped over 1,000 individuals achieve new restored as a result of AHF support. These enterprise initiatives, such as HLF’s Heritage skills in business planning, finance and enterprises have created at least 1,000 new Enterprise grant programme, the Power to strategic development. We intend to build FTE jobs and 4,000 training opportunities. Change Trust’s Community Business Fund on this success by recruiting additional and the Big Lottery Fund’s Big Local scheme. Support Officers with specific skills in business planning, social investment, public relations

We have worked particularly closely with and marketing and community engagement. 2. http://bit.ly/2cq8o6g HLF to promote its Heritage Enterprise grant programme, establishing close links between our locally-based Support Officers and development staff in HLF’s regional offices and working together to produce a common template for project viability reports. As of 31 March 2016, nearly 40% of all projects that had achieved a Heritage Enterprise Clockwise from left: Dunoon Burgh Hall, Argyll & Bute grant (amounting to £35m in total grant Paul Floyd Glass Artist and Redhill School, Lye and Wollescote Cemetery Chapel, Dudley, West Midlands value) had benefitted from an AHF early Oldpark Carnegie Library, Belfast project grant or loan. Pipe Factory (Phase 1), Glasgow / Photography © SIG OHA

Table 5 / Client Type

300

250

200

150

Over 1,000 100

individuals have been helped by 50 our grants to achieve new skills 0 Company Limited Charity CIC CIO ComBen IPS Unconstituted Other by Guarantee

20 www.ahfund.org.uk www.ahfund.org.uk 21 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

TRUSTEES’ REPORT Achievements against our strategy Objective Four To demonstrate the value of a well-managed historic environment by championing and showcasing the impact of the projects we have supported.

Raising the profile of the AHF and of our To complement this model, we have The results of our first impact measurement In summary, our impact measurement work clients is critical if we are both to capitalise developed an impact measurement survey are set out in the overview and has illuminated our ability to showcase the existing funding and to achieve greater framework that allows us to capture throughout this report. As well as shedding projects we have supported and report on investment in the future at a time of reduced and robustly measure the extent of the light on the direct positive outcomes achieved the positive difference they have made to public spending and increased competition outcomes achieved by our interventions. as a result of AHF support (benefits to the their communities. In addition, we now have for funding from grant-providers, institutional This in turn facilitates the production of an client) and the indirect outcomes (benefits to a baseline of data against which we can investors and private donors. To unlock this annual summary impact assessment that society), the survey also highlighted a number measure the progress of our interventions funding, we needed to improve the way we demonstrates the difference the AHF has of issues relating to the health of the heritage and from which we can learn and develop measure and report on the difference that achieved. We have produced online survey sector more generally and which might new policies and approaches. has been achieved with our support. The first forms that our clients are now asked to be of concern: e.g. less than a third of AHF stage of this process was the development of complete on a regular basis, from which clients have undertaken any evaluation of Towards the end of the year we also a Theory of Change3 model that identifies the the data provided allows us to track the their project; no organisation has more than introduced our new website, with case studies difference we want to achieve through our social and economic outcomes achieved 25% of its trustees from BAME backgrounds; that we hope will inspire other communities advice, grants and loans services. We worked by the supported projects over time. In order and 36% of AHF clients do not have sufficient to instigate projects to save and productively on this model with the help of CAN Invest, to establish a baseline of data we asked all reserves to cover more than one month’s use historic buildings that are at risk in their a social enterprise that specialises in social the organisations that had benefitted from worth of operational expenses (although local areas. The website is attracting over 500 impact and investment. The model clearly AHF financial support over the last 15 this is slightly better than the wider charitable unique visitors each month since its launch. sets out the social and economic outcomes years (540 clients) to complete a survey. sector where NCVO benchmark data suggests We will continue to add more case studies as we hope to achieve through the interventions To help encourage participation from longer- 42% of operating charities have no free our work develops over the coming years and we make. We group the outcomes into three established groups, we offered a prize: every reserves at all). The survey also found that as we come across examples of innovation, categories: outcomes for the organisation, charitable organisation that was still active of the projects that did not proceed, one creativity and/or best-practice. These will for individuals and society, and for the state. who completed a survey was entered into quarter said that the decision to stop was provide a body of evidence that we can use to a draw to win a one-off donation of £1,000 as a direct result of AHF-funded studies, champion the benefits of investing in heritage. towards their charitable objectives. The which had demonstrated the lack of viability winner, selected at random, was Gracehill on economic, market demand, sustainability Old School Trust in Northern Ireland. We or other grounds This can be seen as a received over 130 completed surveys, enough positive outcome as we estimate that at least to produce a statistically robust impact report, £51m (and possibly as much as £800m) has a full copy of which is available to download been saved that would otherwise have been from the AHF website4 (including details of spent on projects that were not viable. the methodology employed). As expected, the findings are testament both to the importance of AHF interventions early on in the development of projects and to the wide-ranging social and economic benefits of the projects themselves.

540 clients, over 15 years contacted to complete a survey to assess social and economic Left to right: Rockfield Centre, Oban outcomes of a project Lye and Wollescote Cemetery Chapel, Dudley, West Midlands Ashton Gate, Bristol / Photography © Nick Church 3. ahfund.org.uk/toc Lye and Wollescote Cemetery Chapel, Dudley, West Midlands 4. ahfund.org.uk/impact Knockando Woolmill, Moray / Photography © Colin McLean

22 www.ahfund.org.uk www.ahfund.org.uk 23 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

Status AHF Funding: Grade II* 2012-13: £2,386 Cold Spots Grant At Risk Register? 2014-15: £23,000 Challenge Fund Grant Yes: Historic England – Heritage at Risk Register

As with previous years, the projects that Argos Hill Windmill is one of only fifty surviving “AHF’s support and advice has been Professional team have been completed this year come from post mills in the UK. The earliest form of invaluable, and helped us to secure Chartered Building Surveyor E all over the UK and involve the rescue and windmill, it is designed so that the mill body other funding for the project.” (Project Manager): John Moat, Douglas Moat Practice revitalisation of a remarkable variety of can rotate around its central post to face Richard Howes, Trustee Structural Engineer: W historic buildings of different architectural 15 the wind. When it was built in around 1835, Argos Hill Windmill Trust James Tasker, Campbell Reith styles and periods. In their own way all of industrial activity was widespread in the Millwright: them have made a significant contribution countryside, in quarries, sawmills and forges. Jeremy Hole Engineering Ltd. S to the communities in which they sit. The mill processed the grain grown by its Highlights include the re-opening of Cleveland S neighbouring communities, with a bake house Other project funders £ and Hastings Piers, the completion of the nearby producing bread. Heritage Lottery Fund 100,000 NI first Heritage Enterprise project in Scotland Wealden District Council 88,000 After its closure, the windmill passed into local at Portsoy, the rescue of the Oldpark Carnegie 14 Trust’s own resources (incl. 46,211 Library in Belfast and the conversion of the 13 authority ownership. Added to the Heritage donations, local fundraising) Grade II Plas Kynaston into starter homes in at Risk Register after years of decline, in Andrew Lloyd Webber 23,000 Wrexham. The work of the Welsh Georgian 12 2008 it was proposed for dismantling. A local Foundation and Historic England (Challenge Fund) Trust at Plas Kynaston and the North East campaign led to the formation of the Argos Charles Hayward Foundation 3,000 Scotland Preservation Trust at Portsoy, Hill Windmill Trust, which took on a 99-year together with the achievements of Romsey NI lease of the mill in 2011 and has secured Rotherfield Trust 2,000 16 & District BPT, Heritage BPT, and West its restoration. Total 262,211 Midlands Historic Buildings Trust, clearly demonstrate the continuing vital role The interior, with all its machinery intact, of revolving fund trusts in the rescue of and mill body are fully restored and sweeps historic buildings for public benefit. The 4 reinstated. Newly built steps enable people to see inside, with a digital tour available in the need for these organisations, and the new 3 11 Heritage Trust Network that represents Roundhouse for those unable to make the them, is as great as it has ever been. 10 climb, together with interpretation to tell the 9 E story of the Mill. A programme of open days, 2015/16 Completed case studies W group visits and outreach to local schools will start in autumn 2016. England 5 1 | p25 | Argos Hill Windmill, Mayfield Whilst the major repairs were undertaken by 2 | p26 | Clevedon Pier, North-West Somerset 2 6 3 | p27 | Building 17, Cromford a millwright, significant sections of work have 4 | p28 | Dronfield Hall Barn, Dronfield 8 1 been undertaken by volunteers, contributing 5 | p30 | Bute Mills, Luton 7 their skills and gaining new ones. The whole 6 | p31 | Old Bluecoat School, Thatcham community has been involved, whether in 7 | p32 | Hastings Pier, Hastings 8 | p34 | 5 Latimer Street, Romsey supporting fundraising events or offering help, 9 | p35 | Lye & Wollescote Cemetery a testament to the importance they attach Chapel, Dudley to this local heritage landmark.

Wales 10 | p36 | Llanfyllin Workhouse History Centre, Powys 11 | p37 | Plas Kynaston, Wrexham

Scotland 12 | p38 | Belleisle Conservatory, Ayre 13 | p40 | 29 Braehead, Beith 14 | p41 | The Pipe Factory (Phase 1), Glasgow 15 | p43 | Sail Loft, Back Green, Portsoy

Northern Ireland 16 | p44 | Oldpark Carnegie Library, Belfast

24 www.ahfund.org.uk www.ahfund.org.uk 25 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

CLEVEDON PIER CROMFORD MILLS – BUILDING 17 Clevedon, North-West Somerset | England Cromford, Derbyshire | England Clevedon Pier and Heritage Trust | www.clevedonpier.co.uk Arkwright Society | cromfordmills.org.uk

Status AHF Funding: Status AHF Funding: Grade I 1990: Loan £110,000 Grade I: Derwent Valley Mills World Heritage Site 2008-10: £25,000 Project Development Grant At Risk Register? 2016: Loan £140,000 At Risk Register? 2013 / 2015: £510,000 Loan No 2016: Community Shares £80,000 No

Clevedon Pier is the only intact Grade I listed Recognising that the Pier’s appeal to visitors Professional team The mill complex at Cromford in Derbyshire The four upper floors have been converted Professional team E E Pier in the UK. It is located at the northern end and the local community needed to be Architect and Project Manager has been described as the most important into ‘Cromford Creative’ – managed Architect: of Clevedon seafront, overlooking the Bristol enhanced in order to sustain it in the long O’Leary Goss Architects preserved textile heritage site in the world. It is workspace units in an environment designed Purcell Miller Tritton Channel, and offers a glimpse of Victorian term, the Trust formulated a plan to generate Cost Consultant from these buildings that Sir Richard Arkwright to encourage creativity and innovation. Quantity Surveyor: W elegance. It is open 364 days of the year and further appropriate income-generating Trevor Humphreys Associates developed technology that gave rise to the The £6.8 million project is the first of four Rawlinson Associates W Structural Engineer Structural Engineer: is also the stopping-off point for up to 4,000 opportunities, and in 2012 approached industrial revolution by creating the modern Masterplan phases which will ultimately allow BDP Eastwood & Partners passengers annually from paddle steamer capital funders and the AHF for further Building Services Engineer factory system. It was inscribed as a UNESCO the site to generate the income it needs to Valuation Surveyor: S S and boat trips. It was built in 1869 using working-capital finance. The proposal was Houghton Greenlees & Associates World Heritage Site in 2001, along with other become self-sustaining. AHF grants at the Smithies discarded rails from Brunel’s broad-gauge to incorporate a new building hosting a range Contractor settlements making up the Derwent Valley development stage were critical to enabling Project Co-ordinator: South Wales Railway, and cost £10,000 to of visitor facilities in the Pier’s access ramp, Beard Mills, due to the unique survival of mills and major funding bids to be developed and David Trevis-Smith NI NI construct. The Pier has a chequered history requiring the removal of 800 tonnes of rock. early industrial communities along the river an AHF loan provided working capital for Other project funders £ Other project funders £ and was almost lost due to the spiralling costs It now offers wider accessibility to all, with Derwent. For much of the 20th century the project. of its upkeep and lack of maintenance that hands-on visitor exhibits on Clevedon and its Heritage Lottery Fund 720,000 the site was occupied by a colour works Heritage Lottery Fund 4,095,400 resulted in a partial collapse in October 1970 surroundings, a community archive with links Coastal Communities Fund 825,000 producing pigments for dyes and paints and The project itself directly created 6 new jobs ERDF 1,059,445 during a Local Authority biannual load test. to local schools, a restaurant and shop, a J Paul Getty Jnr 75,000 the resulting contamination has presented at the Arkwright Society as well as over 100 Monument Trust 250,000 Charitable Trust Following a Public Inquiry in 1980, during venue for parties, weddings, meetings and significant challenges. The Arkwright Society new opportunities for volunteers. AIM Biffa 112,500 Garfield Weston Foundation 50,000 which John Betjeman gave evidence, Clevedon events and, it claims, ‘the best fishing for miles is the AHF’s longest-established regular client Garfield Weston Foundation 100,000 Charles Hayward Foundation 15,000 Pier and Heritage Trust was formed to acquire around’. The community has supported the – an AHF loan enabled the Society to buy “The Arkwright Society JP Getty Charitable Trust 100,000 the pier on a long lease and take forward a venture strongly by contributing £250,000 North Somerset Council 50,000 Cromford Mills in 1979, over 200 years after (S106) funding is a completely different Headley Trust 60,000 major rebuilding and refurbishment scheme from around 1,100 investors toward the the first mill was constructed. In the decades Clevedon Town Council 35,000 organisation now to what Others 182,055 with the help of an AHF loan that secured its Community Share issue, and in March 2016, since, the Society has carried out an on-going The Hawthorns Retirement, 15,000 it was 6 years ago. The Volunteer time 823,300 immediate future. The Pier was reopened the AHF was also able to purchase a further Clevedon programme of repairs and conservation to Total 6,782,700 in 1989 with the final restoration of the Pier £80,000 worth of shares to further assist the Donations/ fundraising 30,110 rescue this important industrial site ‘at risk’. Building 17 project has Head being completed in 1998. project finances. The project was nominated Non-AHF community shares 250,000 been an integral part in for a Historic England ‘Angels’ award, and won Building 17, the largest Grade I listed building Total 2,200,000 that change and AHF have the prestigious People’s Vote in October 2016. on the site, now serves as a ‘Gateway’ to the World Heritage Site, with visitor facilities on played a major role in “Although appropriate professionals the ground floor including a 3-D interactive helping us make it happen.” model of the site and film introduction, Sarah McLeod, Chief Executive contributed throughout, the AHF the ‘Arkwright Experience’ virtual reality The Arkwright Society provided the forethought, energy and AV show, heritage interpretation, shop perseverance to deliver the scheme.” and information point signposting visitors to places of interest along the 15 mile length Historic England website Angels Award nomination of the World Heritage Site.

Images far left and top / Photography © Craig Auckland – fotohaus All photography courtesy: © Ashley Franklin Photography

26 www.ahfund.org.uk www.ahfund.org.uk 27 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

DRONFIELD HALL BARN Dronfield, Derbyshire | England Dronfield Heritage Trust | www.dronfieldhallbarn.org

Status AHF Funding: Grade II* 2008-09: £8,635 Options Appraisal Grant At Risk Register? 2012-13: £17,500 Project Development Grant Yes: Derbyshire County Council 2011-14: £9,535 Cold Spots Grant

Dronfield Hall Barn is built around the The Trust created a unique partnership Professional team E oak king post framework of an early 15th scheme for the principal heritage, natural Architects: century timber-framed manor house, the history and arts groups in the town. Their Mitchell Proctor oldest surviving domestic building in this members become members of the Trust, Quantity Surveyors: W Derbyshire town. It was converted to a their experienced volunteers develop and Patrick Meads and Associates Structural Engineers: barn in the 17th century by cladding in deliver activities and the Trust provides Project Design Associates sandstone and roofing in stone slate. The professional help with membership M & E Design Consultants: S building was gifted to Dronfield Heritage management, finance, event bookings and EP Consulting Trust, together with surrounding land, in publicity. This has provided a ready-made Main Contractors: June 2005, after having been unused for audience and total memberships now exceed Wm Birch and Sons Ltd NI over ten years. At this time it was in poor 1,000. Their subscriptions, publications Other project funders £ condition and rapidly deteriorating. and activity participation fees provide 50% of core income and room letting fees for Heritage Lottery Fund 1,269,400 AHF options appraisal and project catering, functions and meetings provide Local donations 188,979 development grants enabled the Trust to the remainder. Their members book space for Viridor Credits 149,000 consult extensively with the local community family parties and similar and provide the core Garfield Weston Foundation 40,000 and identify a viable use for the building. Over of the 120+ daily visitor count. Charles Hayward Foundation 2,500

3,000 townspeople voted for the building to Total 1,649,879 be a heritage, natural history and arts centre. A successful Heritage Lottery Fund bid in 2012 enabled this vision to be realised, with the building opening to the public in February 2016. The building was given a first floor with the Mediaeval timbered roof topping a high quality exhibitions gallery and functions space. The ground floor provides a heritage visitor centre and refreshment area. A modern extension accommodates a catering kitchen, visitor cloakrooms and an education/seminar facility.

“AHF recognised the feasibility of our plans and ambitions for Dronfield Hall Barn from the first year of the project. Their advice and early stage funding enabled us to complete all the work necessary to attract other funders including the Heritage Lottery Fund. It is true to say that without their consistent support over many years this project could not have been completed.” Mike Slinn, Chairman (retired) Dronfield Heritage Trust

Image left / Photography © Matt Monfredi

28 www.ahfund.org.uk www.ahfund.org.uk 29 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

BUTE MILLS OLD BLUECOAT SCHOOL Luton, Bedfordshire | England Thatcham, Berkshire | England Youthscape | www.youthscape.co.uk Thatcham (Old Bluecoat School) Charity | www.oldbluecoatschool.org.uk

Status AHF Funding: Status AHF Funding: Unlisted, in Conservation Area 2014: £5,880 Project Development Grant Grade I 2008: £4,185 Feasibility Study Grant At Risk Register? 2014-15: £8,000 Cold Spots Grant At Risk Register? No No

One of the most iconic buildings in Luton, “AHF’s early support of the project in Professional team Originally St Thomas’s Chapel, the Grade I The School’s rendered brick and flint walls Professional team E Bute Mills was built in 1910 as a steam flour December 2013 was key in helping us Architects: listed Old Bluecoat School, in its current form, were being badly damaged by salt spray Feasibility study: E mill. It is a rare survivor of the town’s built to undertake initial design work and HOK dates from the 15th century. Serving as from traffic on the A4 which runs next to the Andrew Townsend Architects, heritage following wholesale redevelopment to begin to turn our vision for Bute Structural Engineer: a charitable school from 1707 until 1914 building. The Charity secured the Council’s Prometheus Ltd, Marriotts Chartered W of the town centre in the 1960s. Refurbished Mills into reality. The building was in Simpson Associates and then ancillary accommodation for various agreement to widen the pavement to create Surveyors W Project Management: Repairs: as light industrial/office accommodation, it local schools, it was later leased to an antiques a buffer which alleviated the problem. With need of a total overhaul of the heating Tower 8 Andrew Townsend Architects, had stood empty for a number of years until and electrical systems, and we were Cost Consultant: business. Facing an uncertain future when the AHF’s support they undertook a feasibility Ellis and Co Contractors S S it was purchased on New Year’s Eve 2013 seeking to design a dynamic and Core Five this closed in 1998, following a community study into how the building could be used by Youthscape, an innovative and rapidly modern lighting scheme to bring the M&E Consultancy: campaign, West Berkshire Council agreed to benefit the community and generate Other project funders £ Troup Bywaters + Anders growing youth charity, following a successful building back to life. AHF caught our to transfer the building to the community. an income to meet its running costs. The Greenham Common Trust 60,000 NI Main Contractor: NI fundraising campaign. Thatcham Town Council took on the freehold study identified its potential as a music and vision and their support has helped Structure Tone Veolia Environmental Trust 40,000 us to create a design that is modern, and issued a 99-year lease to the newly community venue. A successful fundraising Wolfson Foundation 12,000 In spring 2016, following a transformative established charity in 2004. initiative enabled full repairs, including renewal energy efficient and preserves the Other project funders £ The Pilgrim Trust 12,000 £3.2 million project, it reopened as a UK of the clay tile roof. The Old Schoolhouse incredible architecture of Bute Mills.” Edith Winifred Hall 950,000 Foyle Foundation 5,000 centre of excellence to support the emotional Charitable Trust is now in use seven days a week, hosting a Fiona Green, Project Manager Sylvia Waddilove Foundation 5,000 and physical well-being of vulnerable young Youthscape Maurice & Hilda Laing Trust 350,000 thriving programme of concerts, musical and Community fundraising 26,000 people, incorporating the provision of The Amateurs Trust 300,000 community activities from parent and toddler Total 160,000 spaces for counselling and activities Bradbury Foundation 250,000 groups, Pilates and yoga, to a crafts group and for 11 to 19-year-olds, together with office The Steel Charitable Trust 145,840 Polish School. The Charity has successfully accommodation for the charity. Youthscape’s The Arthur Souster 130,000 enabled the building to renew its centuries-old vision is to develop ground-breaking work with Charitable Trust role as a centre for cultural life and learning in young people locally that can be shared with Garfield Weston Foundation 100,000 the community. others nationally. Bute Mills, with over 10,000 The Hadley Trust 100,000 square feet of space over five floors, gives The Connolly Foundation 50,000 the charity the capacity and facilities to make The Clothworkers Foundation 50,000 that possible, with space for therapeutic and The Beale Trust 37,800 informal work with young people, and room Margaret Giffen Trust 20,000 to train youth workers and professionals Heritage Lottery Fund 37,500 from across the UK. Since moving to its new Others 404,000 home Youthscape has been able to expand its drop-in work for young people from one night Total 2,925,140 per week to five nights per week, expanding its reach from 25-30 young people to 100-150 young people per month.

AHF grants contributed to the costs of a mechanical and electrical survey, followed by further work to develop electrical, heating and lighting schemes for the building. This included the development of the fire escape plan that was critical to the floor preliminary plan design.

30 www.ahfund.org.uk www.ahfund.org.uk 31 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

HASTINGS PIER “Thank goodness, then, for the AHF who East Sussex | England through their advice and investment gave Hastings Pier Charity | hastingspier.org.uk us the encouragement to develop our project and reopen this wonderful heritage attraction Status AHF Funding: for people to enjoy for years to come.” Grade II 2012-13: £13,367 Project Development Grant At Risk Register? 2013: £250,000 Loan Simon Opie, Chief Executive Hastings Pier Charity Yes: National Piers Society 2016: £100,000 Community Shares

In spring 2016 Hastings Pier reopened to the The boardwalk now provides a flexible Professional team E public for the first time in nearly a decade open space which has already been used Architects: following the completion of a £14 million for a range of events, such as open-air film de Rijke Marsh Morgan restoration project. The original pier was built screenings, music events and a circus. Structural & Services Engineers: W to the designs of Eugenius Birch (who also The redeveloped Pavilion includes a bar Ramboll UK Cost consultants: designed Eastbourne Pier and Brighton’s West and restaurant offering locally-sourced KMCS Pier) and inaugurated on 5th August 1872, the produce. The restored pier is expected S country’s first August bank holiday. The pier to play a major role in the regeneration Other project funders £ was declared unsafe and closed to the public of Hastings, attracting an additional Heritage Lottery Fund 11,400,000 in 2008 and a devastating fire in 2010 left 90% 300,000 annual visitors to the town. NI Coastal Communities Fund 750,000 of the superstructure in ruins and destroyed Hastings Borough Council 310,000 all but one building – the western pavilion East Sussex County Council 240,000 shelter building which was able to be saved. Social Investment Business 250,000 Its new owners, the Hastings Pier Charity, Community Ownership 500,000 & Management of Assets a newly-established Community Benefit Non-AHF Community Shares 590,000 Society, acquired the pier in August 2013 for £1 following compulsory purchase by Total 14,040,000 Hastings Borough Council. This was the outcome of a community campaign to save the pier led by the Hastings Pier and White Rock Trust which had been formed shortly after the pier was first closed. A development plan put forward to the Heritage Lottery Fund led to a successful bid for £11.4 million. As well as additional grant funding, significant investment was raised through the issue of Community Shares, with over 3,000 shareholders, many of them local people, investing close to £600,000 – one of the most successful share issues in the country. An AHF loan provided working capital for the restoration work.

Clockwise from above: Above / © James Robertshaw Main image / © James Robertshaw Right / © Ramboll: photographer Daniel Shearing

32 www.ahfund.org.uk www.ahfund.org.uk 33 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

5 LATIMER STREET LYE AND WOLLESCOTE CEMETERY CHAPEL Romsey, Hampshire | England Dudley, West Midlands | England Romsey & District Buildings Preservation Trust | www.romseydistrictsociety.co.uk/building-preservation-trust West Midlands Historic Buildings Trust | www.lyeandwollescote.info

Status AHF Funding: Status AHF Funding: Unlisted, in Conservation Area 2014: £7,000 Project Development Grant Grade II 2005-07: £5,725 Options Appraisal Grant 2007-09: £15,000 Project Organiser Grant At Risk Register? 2015: £325,000 Loan At Risk Register? 2008: £7,500 Capacity Building Grant 2015: £120,000 Loan No No 2008: £2,890 Project Administration Grant

Romsey & District Building Preservation Trust AHF grant funding enabled the Trust to Professional team The Lye and Wollescote Cemetery Chapel, Professional team “This project has been made possible E E is a revolving fund building preservation trust engage an architect to help develop a viable Quantity Surveyor: built in 1878, is a rare surviving example of a Architect: by fantastic community support and that has made a major contribution to the scheme and a loan helped to cash-flow the KSP Consultancy cemetery chapel designed to incorporate two Adrian Mathias, Brownhill Hayward Brown determination over a period of 13 conservation of the historic built environment building work. One of the project objectives at Architect: chapels within a single building. Though the Quantity Surveyor: years, now enabling people to visit W of the Hampshire town of Romsey. The AHF the outset was to re-use the accommodation Genesis Design associated cemetery continued in use, the Graham Hale & Co and appreciate the heritage of this W Structural Engineer: Structural Engineer: made its first loan to the Trust in 1984 and above the shop as an exemplar to other shop Nonconformist chapel was closed in the 1970s Ian Payne Steve Mason, Hancock Wheeldon & Ascough building and the cemetery for years this is the tenth project for which the AHF owners with empty or poorly-used space Valuation Surveyor: and the Anglican chapel closed following a fire Valuation Surveyor: to come. AHF support has been a S S has provided loan finance in the years since. over their own retail units. The building has Peter Cliffe-Roberts in 1993 which caused minor damage to the Lex Allan Commercial vital element at every stage of the 5 Latimer Street is part of a prominent block now been completely renovated, with a Project co-ordinator: interior. The West Midlands Historic Buildings Project co-ordinator: project, without which it could not of 18th century buildings in the Conservation refurbished ground floor shop and apartment Frank Akerman, Romsey & District BPT Trust played a key role in getting the building David Trevis-Smith have happened.” NI NI Area in the centre of town. A shop front was above, the latter now having its own entry. The listed in 2005 and then worked closely with the Other project funders £ Other project funders £ John Woodall, Trustee inserted in the 19th century, with the first Trust had been advised that the rear third local community and with Dudley Metropolitan (and Acting Chairman during the project delivery phase) floor used as residential accommodation of the original shop was, in commercial terms, Sale proceeds £435,000 Borough Council to complete an asset transfer Heritage Lottery Fund 1,025,000 West Midlands Historic Buildings Trust until the late 1990s. The Trust purchased of little value and this area was therefore Total £435,000 and sympathetic conversion to a sustainable Others 70,000 the building in 2014 for £160,000. By this converted to accommodate a single bedroom new use as a Registrar’s office and wedding Volunteer time 55,000 time, it had suffered serious structural apartment with its own courtyard and venue. The building has been renamed the Total 1,150,000 deterioration to the point of being separate pedestrian access. Thomas Robinson Building and was officially semi-derelict. opened in March 2016. The completed project has enhanced the street scene within the Conservation Area and The AHF was an important source of funds for helped create a great sense of place, which in the early stage development work, supporting turn increases footfall and boosts commercial the Trust to produce an options appraisal activity in Romsey’s historic town centre. report and engage with the local community to address their concerns. Continuing AHF support enabled the Trust to secure funding from Locality to use the project as a pilot scheme for developing a Community Asset Transfer strategy for the Borough. An AHF loan provided working capital during the repair and conversion work.

The project included an extensive community activity programme as well as the establishment of a new Friends of Lye and Wollescote Cemetery group which enables local residents to continue to contribute towards the care of the cemetery into the future.

34 www.ahfund.org.uk www.ahfund.org.uk 35 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

LLANFYLLIN WORKHOUSE PLAS KYNASTON History Centre, Powys | Wales Wrexham | Wales Llanfyllin Dolydd Building Preservation Trust | www.the-workhouse.org.uk Welsh Georgian Trust | www.welshgeorgiantrust.org.uk

Status AHF Funding: Status AHF Funding: Grade II 2004: £300,000 Loan 2004-07: £6,547 Project Organiser Grant Grade II 2012-13: £7,495 Options Appraisal Grant At Risk Register? 2005-06: £7,500 Feasibility Study Grant 2008-09: £15,000 Project Development Grant At Risk Register? 2015: £8,240 Cold Spots Grants No 2004-06: £3,000 Project Administration Grant Yes: Wrexham County Borough Council 2016: £222,667 Loan

The Llanfyllin Union Workhouse, in north Professional team Plas Kynaston is a Grade II listed house in the The Welsh Georgian Trust was established Professional team E E Powys near the Shropshire border, was Architect: Cefn Mawr Conservation Area, Wrexham. It as revolving fund building preservation Architect: built in 1837-39 during the first phase of Richard Payne, form7ARCHITECTURE was the home of the Kynaston family whose trust in 2011 and, with the help of an AHF Donald Insall Associates workhouse construction after the Poor Display Consultant and Trainer: industrial activities led to the development Trustee, identified Plas Kynaston as its first Quantity Surveyor: W Law Amendment Act of 1834. Designed by John Marjoram of the Plas Kynaston foundry which cast restoration project. By this time the building John Pidgeon Partnership W Director of Film: Structural Engineer: Thomas Penson, a prominent local architect, the ironwork for the famous Pontcysyllte had been empty for at least 15 years and Grace Goulding Engineering & More Ltd and solidly built of local stone and slate, it Scriptwriter and Director of Film: Aqueduct, designated a World Heritage Site was on the local buildings at risk register. Building contractor: S S is one of the last such buildings remaining John Hainsworth in 2009. The house passed into community The Trust approached Wrexham County Grosvenor Construction Ltd in Wales. It served as a workhouse for up Production of Film and technical support: ownership in 1938 and served as the local Borough Council to work together to secure Project co-ordinator: to 250 inmates until 1930, when it became Philip Lane, Beehouse Studio library until the 1970s. the future of the house and, with AHF funding, Andrew Beckett, Trust Chair NI Oral History Training: NI a local authority institution and later a care carried out an options appraisal. As a result, Dr Fiona Cosson Other project funders £ home, finally closing in 1983. It was in use it became clear that community use was as an outdoor pursuits centre for a few no longer viable, due to a surfeit of such Cefn Mawr Townscape 320,000 Other project funders £ Heritage years in the 1980s but then became vacant buildings locally, and a scheme to reuse the Heritage Lottery Fund 39,900 Sale proceeds 520,000 and fell into an increasingly derelict state. building could only be achieved if numerous Other grants and 1,955 Total 840,000 generated income existing covenants were removed. The Trust Llanfyllin Dolydd Building Preservation Trust Total 41,855 subsequently acquired the building for £1 and purchased the building in 2004 with the help converted it into six one-bedroom apartments of an AHF loan. In 2007 the Trust joined “The AHF have been instrumental for sale as starter homes, an option that was forces with the Workhouse Festival to create in making this project happen. They based on research into local housing needs. a community enterprise for arts, education, have supported us all the way from The project was made possible with environment and heritage. The Workhouse the initial idea, through the Options a £320,000 grant from the Cefn Mawr History Centre is the latest development Appraisal and Project Development Townscape Heritage scheme together with at the site to open to the public following grants, to the loan finance which an AHF loan for working capital, to be repaid a £39,900 grant from the Heritage Lottery has enabled us to realise our vision.” from the sale proceeds of the apartments.

Fund in 2015. As part of the 18-month project, Andrew Beckett, Chair local volunteers created displays, a film Welsh Georgian Trust and educational materials to tell the story of the men, women and children who lived at the Workhouse. The new visitor attraction occupies a newly-restored wing and reception area at the entrance to the building.

“The project could never have happened without the support of the AHF: besides the loan – now converted to a commercial mortgage with the Ecology Building Society – which enabled us to buy the building, the AHF made it possible for us to employ skilled professionals in the early stages of the project and supported us with ongoing advice and encouragement.”

John Hainsworth Llanfyllin Dolydd Building Preservation Trust

36 www.ahfund.org.uk www.ahfund.org.uk 37 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

BELLEISLE CONSERVATORY Ayr, South Ayrshire | Scotland Belleisle Conservatory | belleisleconservatory.com

Status AHF Funding: Category B 2012-13: £5,000 Options Appraisal Grant At Risk Register? No

Belleisle Conservatory was constructed in Local campaigners formed the charity Belleisle Professional team E 1879 by William Dickson, as part of a private Conservatory Limited in 2010 with the aim Architect: estate. This was sold to the Burgh of Ayr in of restoring the building and returning it to ARPL 1926, and the Conservatory has since been public use. By this time the Conservatory was Structural Engineer: W the centrepiece of what became known as in a state of serious disrepair, having suffered Grossart Associates Quantity Surveyor: Belleisle Park, the town’s main leisure park. from sustained vandalism. All surviving Brown & Wallace The park consists of formal gardens, play window panes had been removed and Main contractor: S areas, mature mixed woodland, an open wooden frames were in an advanced stage Richardson & Starling country estate and a golf course. The of decay. The charity worked in partnership Conservatory was substantially rebuilt in 1955 with South Ayrshire Council, supported by Other project funders £ NI and remained open until 2005 when it was the Friends of Belleisle and local community Heritage Lottery Fund 1,938,400 closed due to its poor structural condition. groups, to develop a bid to the Heritage (Parks for People grant) Lottery Fund’s Parks for People programme. Conservatory restoration 400,000 AHF funding towards an options appraisal for the Conservatory kick-started the process. The park project, including the restoration and re-use of the Conservatory as a display centre, was awarded a £1.9 million grant in 2014.

The Conservatory Project created three new full-time equivalent jobs, training opportunities for four people and has led to 20 new volunteering opportunities. An official opening event on 23 July 2016 attracted over “The immediate impact of 500 visitors. the building being reopened has been a huge testament to a well worthwhile project. We hope to see the ongoing benefit of this conservatory as a major attraction for many years.” Gordon Fisher, Technical Director Belleisle Conservatory Limited

All photgraphy courtesy: © Colin McLean

38 www.ahfund.org.uk www.ahfund.org.uk 39 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

29 BRAEHEAD THE PIPE FACTORY (PHASE 1) Beith, North Ayrshire | Scotland Glasgow | Scotland Heritage Building Preservation Trust The Pipe Factory | www.thepipefactory.co.uk

Status AHF Funding: Status AHF Funding: Category C 2014-15: £3,000 Project Viability Grant Category B 2015: £30,000 Loan At Risk Register? At Risk Register? 2016: £10,650 Project Development Grant Yes: Buildings at Risk Register for Scotland Yes: Buildings at Risk Register for Scotland

Heritage Building Preservation Trust is one of The Trust had been seeking to acquire no. 29 Professional team White’s pipe factory, next to the famous Prior to refurbishment The Pipe Factory had Professional team E E the few building preservation trusts in the UK Braehead for 18 years before it finally was Project Manager: Barras Market in Glasgow’s East End, was hosted a free temporary Art School and Quantity Surveyor: that continues to operate as a revolving fund, able to do so in 2014, for £17,000. An early Robert McCallum, Heritage BPT built in 1876-79, and by 1890 was producing numerous free art workshops delivered by Malcolm Carrick, Armour purchasing properties at low cost, renovating 19th century villa, Category C listed and within Chartered Building Surveyor: up to 14,000 clay tobacco pipes per day. studios, volunteers and committee members Construction Consultant W them to high conservation standards and the Conservation Area, the building occupies D M Hall White and other smaller manufacturers in the local area. From the outset it has been Architect:: W Main Contractor: Marc Kilkenny selling them on the open market, usually a prominent position overlooking the main in Glasgow supplied pipes to the world (and seen as an opportunity to engage people who Stewart Construction Structural Engineer:: for residential use. Since the early 2000s the street, the Auld Kirk (1593) and The Cross. they are still commonly excavated in North live in the area in the process of learning via Ian Douglas, Design ID S S Trust’s activities have been focussed on the Having been derelict since 2003 and adjacent Other project funders £ American pioneer settlements and can be artists’ activity. Project co-ordinator: small Ayrshire town of Beith, 20 miles south to other buildings previously restored by the used for dating them). The building comprises Alex Misick, The Pipe Factory Sale price 148,100 west of Glasgow. Beith had been known for Trust, it was considered a ‘missing tooth’ in an a complex sequence of three ornate red and NI Total project cost 154,000 NI the manufacture of high quality furniture, otherwise well-restored townscape. Following white brick buildings, which were originally “The AHF’s investment in The Pipe Other project funders £ latterly for ocean liners. Following the strip-out there was evidence that the building linked by an equally ornate two-storey building Factory came at the right time, Glasgow City Council (Barras 329,093 demise of that industry the majority of the was constructed on a much earlier steep filling the site between the three buildings helping us with the working capital Floorspace Grant Scheme) working population now commute to work gabled single storey building. (which was the main entrance and housed the we needed to carry out essential Glasgow City 30,000 Heritage Trust outside the town. kilns). The Italian renaissance-inspired design repairs. The refurbishment of this Total 359,093 The Trust’s work revitalising Beith’s built details are some of the most intricate and historic building is a crucial step environment over nearly two decades has ornate use of brick to be found within the city. in the project, providing us with made a major difference to the town, helping a wind and watertight space.” to halt the sense of decline and make it The Pipe Factory organisation was established Alex Misick a more attractive place for both residents in 2013 as a voluntary-led, not-for-profit, The Pipe Factory and visitors to enjoy. independent company dedicated to the production and dissemination of artistic work and ideas. It plans to convert the former “Like its neighbour, 25 Braehead, the Trust had been trying White’s pipe factory building into 32 managed to acquire this derelict property for many years as. As is workspaces for let to artists. Phase 1 of this normal in the restoration of historic buildings there were project involved £359,093 of works to replace numerous surprises, therefore sacrifices and compromises the roof and windows, which was supported had to be made. However with the AHF grant and their sage by an AHF working capital loan. advice the overspend was kept to a manageable amount.

This overspend was met from HBPT’s own reserves.” Main image below / Photography © Colin McLean

Robert McCallum Heritage Building Preservation Trust

40 www.ahfund.org.uk www.ahfund.org.uk 41 The Architectural Heritage Fund Building a better future from our past

SAIL LOFT, BACK GREEN Portsoy, Aberdeenshire | Scotland North East Scotland Preservation Trust | www.nespt.org

Status AHF Funding: Category B 2000-01: £5,280 Feasibility Study Grant 2015: £250,000 Loan At Risk Register? 2009-11: £2,220 Options Appraisal Grant Yes: Buildings at Risk Register for Scotland 2011-15: £20,000 Project Development Grant

North East Scotland Preservation Trust, The AHF’s involvement with the project goes Professional team E working in partnership with Portsoy back to 2000, when it first offered funding Architect: Community Enterprise, has transformed a towards a feasibilty study but this did not LDN Architects group of derelict cottages in Portsoy on the lead to a scheme being developed. Quantity Surveyor: Aberdeenshire coast into the Sail Loft, luxury Nevertheless, the Trust acquired the The Torrance Partnership W Structural Engineer: bunkhouse accommodation for 25 people freehold of the site for £1 in 2006 and, with AF Cruden Associates which will be operated as a community the help of further AHF support, was Valuation Surveyor: S business by the Scottish Traditional Boat eventually able to develop a viable proposal Graham & Sibbald Festival. This is one of the first completed which attracted nearly £2 million in grant Project co-ordinator: Heritage Enterprise projects in Scotland, funding. The Sail Loft has created new jobs, Paul Higson, North East Scotland Preservation Trust NI funded by Heritage Lottery Fund’s innovative supported local businesses and brought new programme. additional economic benefit to the area. Other project funders £

Heritage Lottery Fund 873,500 Portsoy harbour developed as a busy trading port in the 17th and early 18th centuries. The Coastal Communities Fund 601,148 site at Back Green was originally developed Historic Environment Scotland (Portsoy CARS) 360,200 to manufacture thread from flax. The area Portsoy Community 74,800 of ‘green’ was utilised for the bleaching of Enterprise flax, the reliable water supply from the burn North East Scotland PT 17,243 providing ideal conditions for bleaching. In Total 1,926,891 the early 19th century the site contained two groups of buildings – the one to the seaward side operated as a rope-making business while the manufacture of sails took place within the eastern range, adjacent to a row of cottages. The buildings were abandoned in the 1970s and have been on the Buildings at Risk Register for Scotland since 1997.

“This is the biggest and most challenging project undertaken by the NESPT in its 36-year history. Many problems have had to be solved over a 10-year period to get to successful completion and this would not have been achieved without the help and support of the AHF. For the NESPT the model of working in partnership with a Community Enterprise has been Photography © Colin McLean / Main, left and top right images fundamental to the success of the project and is something we intend to replicate at other sites in future.”

Paul Higson, Project Manager/Trust Administrator North East Scotland Preservation Trust 42 www.ahfund.org.uk www.ahfund.org.uk 43 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

OLDPARK CARNEGIE LIBRARY Belfast | Northern Ireland N. Ireland Foundation & Lower Oldpark Community Association | northernireland.foundation/projects/carnegieoldpark/

Status AHF Funding: Category B 2016: £3,000 Project Viability Grant At Risk Register? Yes: Ulster Architectural Heritage Society, in partnership with the Department for Communities

Oldpark Library was the first of three libraries The plan is to develop commercial revenue Other project funders £ E built by Belfast Corporation following streams via office rental upstairs, enabling Heritage Lottery Fund 9,200 ground floor rooms to be used by all a donation from Andrew Carnegie, the Private individual (acquisition) 90,000 Scottish-American steel magnate and communities for education and training, arts Total 99,200 W philanthropist who funded libraries, schools and cultural activities. By bringing the building and universities throughout the USA, UK, back into use to serve the local community Ireland and Europe. Built in 1906 to the as well as a venue for social enterprises, S designs of the local architectural practice Watt it is hoped that the project will make a real and Tulloch, it served as a library for over 100 contribution to the regeneration of north Belfast, in parallel with other developments NI years, finally closing in 2008. Today, only one of Belfast’s Carnegie libraries (on Falls Road) in the area, including the recently reopened remains in use as a library. A second, on Crumlin Road Gaol. Donegall Road, was restored in 1998 and is now let out to small businesses. The latter is The freehold of the library was acquired at the home to the Northern Ireland Foundation, auction in December 2015 by a private buyer which is working in partnership with the Lower who shares this vision. The Northern Ireland Oldpark Community Association to develop Foundation will take a long leasehold on a ‘third sector’ use for Oldpark Library. the building. An AHF Project Viability Grant, matched with a Start-up grant from the Heritage Lottery Fund, will enable the Foundation to test the viability of its proposals and complete a condition survey of the building.

“We were thrilled by AHF’s interest, advice, and grant – it gave us both confidence and encouragement to realise our vision with our communities.”

Allan Leonard, Managing Director Northern Ireland Foundation

44 www.ahfund.org.uk www.ahfund.org.uk 45 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

FINANCIAL REVIEW FINANCIAL REVIEW 2015/16 Overview 2015/16 Overview Cash flow Reserves policy Investment policy (financial)

Total incoming resources The AHF’s total funds The endowment fund Review of outstanding loans Cash flow Total incoming resources in the year ended Following a review of all outstanding loans There was a net inflow of cash of £2,571,783 31 March 2016 amounted to £2,136,909 at the end of 2013/14, the AHF’s Trustees (2015: outflow of £352,002) primarily due to (2015: £1,557,882). This comprised: approved the introduction in that year’s the repayment of long-standing loans during accounts of a general bad debt provision. the course of the year, contributions to the This was in recognition of the increasingly endowment fund, and to receipts of interest difficult lending environment in which the £14,022,970 £11,613,961 and rents from investments. Net outflows are Total funds at 31 March 2016 Increased endowment fund as at 31 March 2016 AHF operates and the consequent increase forecast for the next four years as we seek to (2015: £13,092,245) (31.03.2015: £10,609,801) in risk that funds may not be recoverable in increase our lending activity. full despite the AHF’s best efforts. The general bad debt provision amounts to 4.2% of Reserves policy the total loans outstanding which have The General Fund constitutes the free not been included in the specific provision. reserves of the charity from which running A full breakdown of the provision is shown costs and the payment of non-refundable in Note 6 of the Statement of Financial grants (core initiatives) have to be paid. £13,283,970 £1,004,160 Activities available to download from To meet these needs, the trustees aim to constituted the AHF’s lending resources The net increase on 2015 fund www.ahfund.org.uk/publications. hold reserves of not less than one year’s (2015: £12,472,245) (2015: £517,943) expenditure, based on the average annual This increase consisted of contributions from: £1,233,485 expenditure from unrestricted funds (2015: £691,969) in endowment contributions over the previous 3 years (£620,000). Compliance with the reserves policy was £478,935 met by a year-end transfer of £142,435 (2015: £381,018) in restricted income (2015: £254,539) from the designated £435,000 lending fund to the General Fund. £424,489 DCMS 4.2% (2015: £484,895) in unrestricted income £930,725 The general bad debt amount the AHF’s total funds increased by provision amounts to 4.2% (2015: £45,410), comprising: The total value of the Endowment Fund of the total loans outstanding which have not been included can be affected by the failure of some AHF Total resources expended in the specific provision borrowers to repay their loan in part or in Total resources expended during the year full. Bad debts are to be expected given the amounted to £1,206,184 (2015: 1,512,472). £231,000 Welsh Government high risk nature of the AHF’s loan investments, Of this expenditure, bad debt provision although the AHF seeks to minimise its adjustments and other loan-related activities, potential exposure to loan losses as far grants, programme support and the £1,004,160 as possible through its assessment and overheads attaching to these, and the net increase in the endowment fund (2015: £517,943) loan monitoring processes. Provision for bad AHF’s contribution to the Association of debt is made in the AHF’s forward financial Preservation Trusts, amounted to £1,170,979 £567,485 planning, and the value of the Endowment (2015: £1,454,291). The remaining expenditure Historic Environment Scotland Fund is maintained and increased through comprised £35,205 (2015: £58,181) for the fundraising. costs of generating funds. Investment policy (financial) £142,435 Money not on loan is kept on deposit, on the £1,170,979 unrestricted fund deficit best terms consistent with financial prudence (2015: £1,454,291) comprised bad debt provision (2015: £254,539) adjustments, other loan-related activities, grants, £156,347 and ready accessibility. This process is programme support, Association of Preservation loan losses offset managed internally. Net income from bank Trusts contribution (2015: £91,412) deposits for the year amounted to £13,312 (2015: £11,367) £35,205 (2015: £58,181) of remaining expenditure comprised the costs of generating funds £69,000 £72,978 increase of restricted fund and the increase in bad debt provisions (2015: deficit of £217,994) (2015: £82,614)

46 www.ahfund.org.uk www.ahfund.org.uk 47 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

FINANCIAL REVIEW FINANCIAL REVIEW Staff renumeration Grants awarded Going concern

Staff remuneration • Rewarding good performance: Whilst the AHF Grants awarded during 2015/16 Our approach to pay does not currently directly link pay progression Name of applicant | Project Country Grant type Sum offered The AHF believes in recruiting high-calibre to performance, the progress achieved by the people to represent its interests. We also organisation over the preceding year is still Bawdsey Radar Trust Ltd Friends of Anfield believe in rewarding staff fairly for the jobs a factor in determining pay. The Transmitter Block, Bawdsey Manor Estate, South Chapel, Anfield Cemetery, that they do and fostering a positive working Woodbridge, Suffolk 236 Priory Road, Liverpool Bearing these factors in mind, trustees environment, and we believe our salaries and awarded all staff a pay rise of 1.5% together E PDG £ 5,000 E PVG £ 3,000 our terms and conditions reflect this. People with a £500 non-consolidated bonus payment are employed at the AHF on the basis of the in recognition of the excellent performance specific skills that they bring to their particular Brighton Hippodrome CIC Fulham Palace Trust of staff during a difficult period of transition. role. For the AHF to run successfully, a large Brighton Hippodrome Theatre, West Wing Offices, Fulham Palace, The Chief Executive only took a 1% pay rise range of skills and disciplines and experience 52-58 Middle Street, Brighton, East Sussex Bishop’s Avenue, London to ensure the gap between senior executive are required. We need to pay appropriately and staff pay rates did not increase at a time to ensure that we can recruit people with E PVG £ 3,000 E PDG £ 5,000 of significant restructuring. the right skills. We also need to retain them in a competitive market where, not least as Bury St. Edmunds Art Gallery Trust Future Wolverton Ltd Severance payments a result of the financial nature of the AHF’s (Smiths Row) The Old School, Old Wolverton, role, their skills are readily transferable to The AHF’s restructuring programme, and the The Station Master’s House, Station Hill, Milton Keynes, Buckinghamshire other organisations, both in the voluntary decision to share finance and administrative Bury St Edmunds, Suffolk E PVG £ 3,000 sector and in other sectors. The AHF firmly functions with another organisation, regrettably believes in trying to retain staff for the long meant that two long-term members of AHF E PDG £ 4,233 term, developing them and benefiting from staff decided to accept early retirement Giroscope Limited their growing knowledge. This is in preference packages. These involved severance payments, Chadderton Together St Matthew’s Church, Boulevard, to the disruption and expense of recruitment, the amount awarded equating to no more Foxdenton Hall, Foxdenton Lane, Hull, Kingston upon Hull especially as many staff have detailed than the equivalent of one week’s salary Oldham, Greater Manchester E PVG £ 1,840 knowledge that is unique to them in the for each year of employment at the AHF. E PVG £ 3,000 organisation and could not be quickly Pensions replaced. The small number of salaried Heritage Trust of Lincolnshire staff means that any loss of experienced The Charity offers employees the opportunity Chance Glassworks Heritage Trust The Old King’s Head, King Street, staff members does have a significant impact to join its discretionary retirement savings Chance Glassworks, Palace Drive, Kirton, Lincolnshire on the organisation. Our staff pay scales are scheme, a Group Personal Pension Plan Smethwick, Sandwell E PDG £ 5,000 set with this in mind. provided and administered by The Prudential Assurance Company Ltd on behalf of the E PVG £ 3,000 Pay awards Architectural Heritage Fund. Contributions Lister Steps Creative Quarter Nottingham Limited West Derby Carnegie Library, Salaries, including pay awards, are set and made to the scheme in the year totalled The People’s Hall, 18 Heathcote Street, Green Lane, Liverpool reviewed annually by the AHF’s Board of £15,500. Nottingham Trustees. The review takes account of a Going concern E PDG £ 7,500 number of factors when determining the E PVG £ 3,000 recommended pay award for staff. These The Board has reviewed the Charity’s financial North East Theatre Trust Ltd. are as follows: position, taking account of the satisfactory levels of reserves and cash, amounts Derbyshire Historic Buildings Trust 63 Quayside, • CPI inflation forecasts:Current cost of receivable, principally from the AHF’s lending South Wingfield Station, Holm Lane, Newcastle upon Tyne living (CPI) forecasts for 2016 vary between function, the annual plan and the five-year Oakerthorpe, Alfreton, Derbyshire E PDG £ 6,500 1% (OBR) and 1.5% (IMF), rising to between financial forecasts, and its systems of financial E PVG £ 2,600 1.8% (OBR) and 2% (IMF) in 2017. and risk management. As a result of its review, North Meols Library Association • Comparative pay increases: The former the Board believes that the AHF is well placed Fort Bovisand Trust Bowls Pavilion, Botanic Gardens, Chancellor announced in his Summer 2015 to manage operational and financial risks Fort Bovisand, Plymouth, Devon Southport, Sefton Budget that public sector pay increases will successfully. Accordingly, the Board has a reasonable expectation that the AHF has be capped at 1% from 2015 until 2019. CIPD E PDG £ 5,000 E PVG £ 300 predicts pay increases of 2% for 2016. adequate resources to continue in operational existence for the foreseeable future.

48 www.ahfund.org.uk www.ahfund.org.uk 49 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

FINANCIAL REVIEW Grants awarded

Grants awarded during 2015/16 Grants awarded during 2015/16 Name of applicant | Project Country Grant type Sum offered Name of applicant | Project Country Grant type Sum offered

North of England Civic Trust Sudbury Gasworks Restoration Trust Trimley Station Community Trust Clydesdale Amateur Rowing Club Warwick Bridge Corn Mill, Warwick Bridge, The Old Gasworks, School Lane, Trimley Station, Station Road, West Boathouse, Glasgow Green, Glasgow Carlisle, Cumbria Sudbury, Derbyshire Trimley St Mary, Felixstowe, Suffolk SPVG £ 3,000 E PDG £ 2,250 E PDG £ 2,550 E PDG £ 1,500 Dumfries Historic Building Trust North of England Civic Trust The Cross Keys Community Society (Pub) Ltd. Tyne and Wear Building Preservation Trust Ltd Former George Street School of Art, Council Chambers, Main Street, The Cross Keys Inn, Kinnerley, St Hilda’s Colliery Head Stock, Dumfries, Dumfries & Galloway Frizington, Cumbria Oswestry, Shropshire South Shields, South Tyneside SPVG £ 1,500 E PDG £ 10,000 E PVG £ 2,000 E PDG £ 3,900 Dundee Museum of Transport Trust Providence Chapel Charlwood Trust The Gaia Trust Worcestershire BPT Maryfield Tram Depot, 25 Forfar Road, Providence Chapel, Chapel Road, Welcombe Barton and associated buildings, Weavers’ Cottages, 20, 21 & 22 Horsefair, Dundee Charlwood, Surrey Welcombe, Bideford, Devon Kidderminster, Worcestershire SPDG £ 22,750 E PDG £ 2,500 E PVG £ 3,000 E PDG £ 10,000 Edinburgh Fruitmarket Gallery Re:Source Blackburn The Heritage Trust Zoological Society of London 36/39 Market Street, Edinburgh Former Cotton Exchange / Apollo 5 Cinema, Bretby Art Pottery, Swadlincote Road, Snowdon Aviary, ZSL London Zoo, Blackburn, Lancashire Woodville, Swadlincote, Derbyshire Regents Park, London SPDG £ 6,500

E PVG £ 3,000 E PVG £ 2,100 E PDG £ 5,000 Edinburgh World Heritage Trust Tron Kirk, Edinburgh Real Ideas Organisation (RIO) CIC The Historical Diving Society Northern Ireland Foundation SPDG £ 10,000 Oddfellows Hall/ Ker Street Social Club, No. 2 Battery, Stokes Bay Road, Carnegie Library, 46 Oldpark Road, 120-122 Ker Street, Plymouth, Devon Gosport, Hampshire Belfast, Belfast City Ferryhill Railway Heritage Trust E PVG £ 2,730 E PVG £ 2,430 NI PVG £ 3,000 Former Engine Shed, Polmuir Avenue, Aberdeen, Aberdeenshire Royal Hippodrome Theatre CIC The National Trust Above Adventure Ltd Royal Hippodrome Theatre, 108-112 Stoke-sub-Hamdon Priory, North Street, Grange Church, Kilmarnock, SPDG £ 15,000 Seaside Road, Eastbourne, East Sussex Stoke-sub-Hamdon, Somerset South Ayrshire Clockwise from above: Glasgow Building Preservation Trust E PDG £ 5,000 E PVG £ 2,000 Bowls Pavilion, Botanic Gardens, Southport, Sefton SPVG £ 3,000 Glenbarr Abbey, Argyle and Bute Provan Hall, Auchinlea Road, Glasgow Bawdsey Radar Block, Suffolk Royal Hippodrome Eastbourne, Sussex SPDG £ 10,000 S1 Artspace The New Mechanics’ Institution The Markethall, Cardigan Citizens Theatre Duke Street Building, Park Hill, Preservation Trust Ltd Citizens Theatre, 119 Gorbals Street, Sheffield, South Yorkshire The New Mechanics’ Institution, Glasgow Govan Workspace Limited Railway Village, Swindon, Wiltshire Govan Old Parish Church, E PDG £ 25,000 SPDG £ 5,000 866/868 Govan Road, Glasgow E PVG £ 3,000 Saltdean Lido CIC Clan Mackenzie Charitable Trust SPDG £ 5,000 Saltdean Lido, Saltdean Park Road, The Wisbech Society & Preservation Trust Ltd Castle Leod, Strathpeffer, Highland Saltdean, East Sussex Cemetery Chapel, Wisbech General Govanhill Baths Community Trust Cemetery, Wisbech, Cambridgeshire SPDG £ 6,000 Govanhill Baths, 99 Calder Street, Glasgow E PDG £ 5,000 E PVG £ 1,500 SPDG £ 10,000

50 www.ahfund.org.uk www.ahfund.org.uk 51 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

FINANCIAL REVIEW FINANCIAL REVIEW Grants awarded New loans and extensions

Grants awarded during 2015/16 New loan offers and extensions during 2015/16 Name of applicant | Project Country Grant type Sum offered Name of applicant | Project Country Loan or Extension Sum offered

King’s Theatre Kirkcaldy Limited Strathnaver Museum Trust Bawdsey Radar Trust Edinburgh Printmakers Ltd Former King’s Theatre, 252-262 High Street, Strathnaver Museum, Clachan, Bawdsey Transmitter Block, Woodbridge Castlemills, Former North British Rubber Kirkcaldy, Fife, KY1 1LA Bettyhill, Highland Company building, Edinburgh LOAN E £ 100,000 SPVG £ 3,000 SPDG £ 7,000 SLOAN £ 400,000 Heritage Trust of Lincolnshire Lochgilphead Phoenix The National Trust for Scotland Former King’s Head Public House, Kirton Kirkmichael Trust Clock Lodge, Kilmory, Lochgilphead, Harlawhill House, Harlawhill, Kirkmichael, Dingwall Argyll and Bute Prestonpans, East Lothian E LOAN £ 100,000 SLOAN £ 70,000 SPDG £ 11,900 SPVG £ 3,000 Heritage of London Trust Operations Ltd St. George’s Royal Garrison Church, The Pipe Factory Oban Communities Trust The Pipe Factory Woolwich White’s Clay Pipe Factory I, Glasgow Former Rockfield School, Oban, White’s Clay Pipe Factory 1, Glasgow Argyll and Bute E LOAN £ 60,000 SLOAN £ 30,000 SPDG £ 10,650 SPDG £ 22,900 Romsey & District BPT Total offered £ 1,950,000 Urras Dualchas Shiaboist Former Latimer News, Romsey Perth & Kinross Heritage Trust Old Church Building, Shawbost, Stanley Mills (East Range), Stanley, Isle of Lewis, Western Isles E LOAN £ 300,000 + 25,000 Clophill Heritage Trust Perth & Kinross St. Mary’s Old Church, Clophill SPDG £ 15,000 Spitalfields HBT E EXT £ SPVG £ 3,000 The Archbishops Palace, Charing, Ashford 150,000 Willow Tea Rooms Trust Renfrew Development Trust Willow Tea Rooms, Glasgow E LOAN £ 425,000 Ivy House Community Pub Ltd Former Police Station, Renfrew, Renfrewshire The Ivy House Public House, Nunhead SPDG £ 10,000 Stratford HBT SPVG £ 5,000 The Old Toll House, Clopton Bridge, E EXT £ 507,000 Cardigan Building Preservation Trust Stratford-upon-Avon Scottish Centre for Personal Safety The Markethall, Cardigan, Ceredigion Portland Works Little Sheffield Ltd Barony St. John Church & Halls (Former), E LOAN £ 70,000 Portland Works, Sheffield Ardrossan, North Ayrshire WPDG £ 4,950 E EXT £ 200,000 The SAVE Trust SPVG £ 3,000 Welsh Historic Gardens Trust Castle House, Bridgwater Tywi Gateway, Outbuildings at County Clockwise from above: Castle Roy Trust Bawdsey Radar Block, Suffolk E LOAN £ 20,000 Castle Roy, Nethy Bridge, Highland Southside Housing Association Museum, Abergwili, Carmarthenshire Fulham Palace, London British Linen Bank Tenement, ZSL Zoological Society, London WPVG £ 1,450 Wisbech Cemetery Chapel, Cambridgeshire S EXT £ 60,000 162-170 Gorbals Street, Glasgow Stoke Sub Hamdon Priory, Somerset Turner’s House Trust Sandycombe Lodge, Twickenham SPDG £ 15,000 Total offered £ 375,0335 Fact Three E LOAN £ 150,000 Lansdowne Parish Church, Glasgow Stonehaven Town Partnership S EXT £ 150,000 Sherriff Court Building, Stonehaven, Artists Collective Gallery Aberdeenshire City Observatory, Edinburgh Total offered £ 1,067,000 SPVG £ 3,000 S LOAN £ 200,000

5. Including £26,300 offered and subsequently withdrawn

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FINANCIAL REVIEW Principal risks and uncertainties Risk profile

Principal risks and uncertainties • The maintenance of a risk register, Risk area Risk Description Risk Management which is reviewed quarterly by the senior The Board is responsible for ensuring External • The environment for investment in heritage • Monitoring of external environment, active that there are effective and adequate risk management team and twice a year environment becomes less favourable, thereby reducing engagement in dialogue with key funders and management and internal control systems by the Audit & Risk Committee. Risks the impact of the AHF’s work (e.g. due to building strong relationships and alliances with in place to manage the major risks to are considered in four key areas: external reduced funding by Government/investors funders and partner organisations. and/or reduced demand for the AHF’s services environment, talent, financial, infrastructure. • Seek regular feedback from clients on which the AHF is exposed. It discharges from its clients). this responsibility through its review of the All identified risks are assessed for both opportunities and requirements and adjusting • Greater scrutiny of charities and their policies and products accordingly. effectiveness of the AHF’s risk management likelihood of occurrence and potential governance presents an increase in potential financial and reputational impact, to give • Set of core values introduced against which framework. This framework is designed reputational risk. to support informed decision-making a gross risk. Mitigating controls are then service standards are bench-marked to maintain a good reputation at all times. regarding the risks that affect the AHF’s considered, giving a net remaining risk. performance and its ability to achieve its The risk-management strategy forms part of the planning process, against which the objectives. It also provides for a consistent Talent • Talented staff are not attracted, developed • Performance management and appraisal Board reviews progress formally every year. approach to identifying, assessing and and retained in an increasingly competitive processes carried out routinely. dealing with the risks facing the AHF so labour market. • Individual job and personal development plans Risk profile as to ensure that they do not exceed the • Staff do not possess the skills to perform created that link through to the AHF strategy level of risk the AHF is willing to assume. Recent developments in the charity sector as their duties. and operational plan. a whole have seen increased media, public • Salary and employee benefits benchmarked, and regulator interest in the operation of The AHF operates in a risk environment that reviewed and adjusted as necessary. is complex and which involves offering loan charities. The Board and executive remain • Training budget set at over £750 per employee finance to organisations that cannot raise focused on those risks which could adversely for 16/17. funds from elsewhere. Therefore, the affect the reputation of the AHF. We have framework is designed to manage, rather than defined a set of core values of the AHF that to eliminate, the risks to the AHF’s objectives we will adhere to at all times to ensure the • Loan Portfolio Performance Management Financial • Falling income as a result of one or more and to provide reasonable, but not absolute, reputation of the AHF is maintained. These System and overdue loans policy introduced. of the following: bad debts; reduced grant assurance against material misstatement or values are: income; low interest on bank deposits; reduced • Rigorous assessment process used for new loss. We aim to manage risk by anticipation loan applications. • Equality and diversity borrowing; fraud; financial mismanagement. and avoidance rather than by handling the • Customer focus • Impact of activities measured and reported. consequence after the risk has crystallised. • Excellence • Competitive interest rates maintained for lending. • Collaboration • Regular reviews of internal controls on financial It should be noted that processes in place • Integrity, respect and professionalism management and anti-fraud and money laundering regarding risk management and internal • Evidence-led decision-making procedures. control include the following: • Pioneering and risk-taking • Regular financial planning including income, • A comprehensive risk management • Maximising leverage reserves and cash flow projections and the framework which meets the Charity • Legacy budgeting and monitoring of actual expenditure. Commission’s requirements. This consists of five stages, from understanding the risk environment through risk identification, Infrastructure • IT/communications equipment is erratic, • Regular reviews of, and investment in, IT seriously disrupted or ceases to work altogether. infrastructure. analysis and evaluation to risk treatment. • Loss of data and files, including computer and • Well established back-up procedures in place paper records, photo library and report archive. with daily back-ups stored off-site.

• Temporary loss of office and/or equipment. • Digital copies taken of all business critical documents, including loan agreements, grant offers, client information, financial records etc.

• Disaster recovery plan with insurance provision for temporary office and equipment if required.

Clockwise from top: Govan Old Parish Church Glasgow / Photography © Colin McLean Riddel’s Warehouse, Belfast Pipe Factory (Phase 1), Glasgow / Photography © SIG OHA Citizens Theatre, Glasgow / Photography © Colin McLean

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STRUCTURE, GOVERNANCE AND MANAGEMENT Council of Management Committees

The Architectural Heritage Fund (AHF) is the charity. Individual trustees must have Committees gaps and to identify an appropriate strategy incorporated as a company limited by sufficient knowledge, both of trusteeship in There are currently four sub-committees, for addressing these shortages (having in guarantee (company number 1150304), general and of the charity’s activities, to enable the Finance & General Purposes Committee, mind the strategic objectives of the AHF). is registered as a charity in England and them to carry out their role and to represent the Audit & Risk Committee, the Grants Panel Wales (number 266780) and in Scotland the charity. Therefore, the AHF maintains a and the Nominations Committee. Further Grants Panel (number SC043840), and is governed by its Board skills register and seeks to recruit new sub-committees will be established during the Decisions on grant applications for amounts memorandum and articles of association trustees with the skills it needs to deliver its course of this year to deliver the draft strategic over £5,000 are taken by the Board. The (most recently updated 30 January 2013). objectives. Recruitment is undertaken through objectives for the organisation, including number of applications for decision has an open, advertised and competitive process, a Credit Panel and possibly a Fundraising risen significantly in recent times and is likely As of 13 July 2015, the AHF is regulated by the utilising existing recruitment platforms Committee. to increase further. This is reducing significantly Financial Conduct Authority and is recorded and relevant networks. Appointments the amount of time available at Board on the Financial Services Register (number can be made at any time, and the process Finance & General Purposes Committee meetings for matters of strategic direction. 707421). is managed by the Nominations Committee The Finance & General Purposes Committee Therefore, a panel was established in in accordance with Charity Commission comprises the Chairman or Deputy Chairman December 2015 to consider recommendations Registered office is 3 Spital Yard, Spital Square, guidance (CC30). Final decisions on and any two other members of the Board. from staff on grant requests over £5,000 on a London E1 6AQ. appointment rest with the Board, acting on Responsibility is delegated to this Committee quarterly basis, in order to present a schedule the advice of the Nominations Committee. to make some loan and grant offers, and of decisions to the Board for ratification. Council of Management to deal with other matters between Council The governing body of the AHF is the Council Before the official date of appointment, meetings, either by meeting or by post. The Grants Panel comprises four Trustees of Management (otherwise known as each new member is provided with a full representing England, Northern Ireland, ‘the Board’), whose members have legal information pack covering the work and All members of the Council of Management Scotland and Wales, and the Chief Executive. responsibility as directors of the AHF as governance of the AHF, is formally inducted are eligible as members of the Finance and The Operations Manager is its Secretary. a company and as trustees of the AHF as by the Chairman and the Chief Executive, General Purposes Committee. It meets quarterly on the same day, but a charity. The Board is responsible for every and where possible attends at least one preceding, the Board meeting. Terms of aspect of the AHF’s business and governance, Board meeting as an observer. Trustees are Audit & Risk Committee appointment are for three years but are with day to day management being delegated encouraged to visit current projects, and are Composed of up to four Board members, the synchronised with the serving terms of to the AHF’s executive. Board members kept informed of relevant changes to the law duty of the Audit & Risk Committee is to Trustee appointments. The Chairman revolves usually serve for renewable terms of three by means of Board papers. consider and report to the Board on matters between the four Trustees on an annual basis. years. Every member of the Board is also of financial control and performance, and The AHF maintains indemnity insurance for a member of the AHF as a company. The AHF to help Trustees and staff identify and assess Trustees serving during the year and since its Trustees and its officers against liability in has no other members. risks to the organisation. The Committee the year end were: respect of actions brought by third parties, has a particular duty of scrutinising the The Board comprises up to 12 appointed subject to the conditions set out in the Board Board Committees annual accounts in draft form, and it is also Trustees, including the Chairman, who Companies Act 2006. Trustees Year of Audit Fin. & Gen. Grants Nominations responsible for managing the relationship contribute diverse areas of heritage and appoint. & Risk Purposes Panel Committee with the Auditors. It also advises on how the business expertise and who represent the Some members of the Board are also Myra Barnes 2013   organisation should manage and monitor whole of the UK. The Board meets quarterly directors or trustees of, or consultants to, Roy Dantzic (retired 31/3/16) 2001   risk and on the completeness of the AHF’s throughout the year (with an additional organisations which apply for and receive risk register. The Audit & Risk Committee Elizabeth Davidson 2007    strategic planning meeting in February) financial assistance from the AHF, or with meets three times a year, in January, June Kate Dickson 2013   and provides strategic leadership to the which the AHF has an arm’s-length business and September. John Duggan 2010   organisation. Trustees also make decisions on relationship. In this event the member or Rita Harkin 2011   members are required to disclose the interest loans and on UK-wide targeted programmes Nominations Committee and initiatives. at the meeting at which the application is Roy Hodson (from 1/4/16) 2016   The Nominations Committee is responsible considered or the business is discussed, From top: Michael Hoare (until 31/3/16) 2008   Portland Works, Sheffield for establishing protocols for the appointment The AHF recognises that an effective board thereby taking no part in the Board’s decision Richard Keen 2014   Oldpark Carnegie Library, Belfast of Trustees and the Chairman, for organising of trustees is essential if the charity is to be (in accordance with the AHF’s Conflict Dene Banqueting Hall, Newcastle upon Tyne the selection criteria and running the Philip Kirby 2011   effective in achieving its objects. The Board of Interests Policy). A register of Trustees’ recruitment process and for making Elizabeth Peace (Chairman) 2014   must seek to represent the people with whom interests is maintained and updated regularly. recommendations for appointment to the Douglas Reid (retired 31/3/16) 2013  the charity works and must have available to it Board. The Committee meets when required. all of the knowledge and skills required to run Merlin Waterson 1999  The duties of the Committee also include a (retired 30/9/15) running audit of current Trustees to establish

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PLANS FOR THE FUTURE TRUSTEES, EXECUTIVE AND THE AHF TEAM Trustees

Plans for the future • Trustees approved a new Grants Policy Trustees Myra Barnes The AHF Board’s annual Policy and Strategy and draft guidance on grants, with more Liz Peace CBE Myra Barnes is a Chartered Town Planner meeting took place in February 2016. This emphasis placed on social impact in addition Chairman currently working as a Partner in a small town to our continuing support for heritage at risk was an opportunity for the charity’s Trustees During her time as Chief Executive at the planning consultancy. Additionally, Myra to discuss and agree strategic priorities for • Trustees approved a draft Fundraising British Property Federation, Liz managed to is an Independent Member of the Assets the next three-year period, 2016-19. The key Strategy for the organisation. change the Government’s perception of the Committee for Genesis Housing Association outcomes from the meeting were as follows: commercial property industry, to establish it and a Beanstalk Volunteer working with • A further priority for the AHF is to resolve as a key voice in policy debate, to dissuade the primary school children needing help with •Trustees approved the organisational the current imbalance between income Government from legislating on commercial progressing their reading. Myra previously Strategy for 2016-19, including the AHF’s and expenditure. This is being achieved by leases, to win innumerable changes to was Head of Planning for National Grid mission, objectives and values. This strategy reducing the AHF’s operating costs through planning and tax legislation and, working as Property where she worked on major reflects the AHF’s ambition of utilising the improved efficiencies, by securing new part of a pan-industry alliance, to persuade regeneration schemes and worked to UK’s rich architectural heritage as a vehicle investment and by increasing income from the Government to introduce real estate enhance the value of former gasworks sites for delivering beneficial social outcomes lending and bank deposits. investment trusts (REITs). Previously, Liz was a all over Britain seeking to bring them back and reducing inequality and poverty of civil servant in the MOD, eventually becoming into beneficial use. Prior to this Myra worked skills and ambition. It is supported by an a key player in the team that created as Development Manager for Olympia & York annual operational plan that is reviewed QinetiQ plc. Liz currently holds a range producing the masterplan, design guidelines and updated quarterly to ensure that of non-executive, advisory and charity roles, and planning for the development of Canary appropriate action is taken to achieve key including at Morgan Sindall plc, Redrow plc, Wharf, Heron Quays and Port East. She also priorities and that they remain effective in and the Churches Conservation Trust. She worked as Assistant to the Chief Executive fulfilling the charitable objects of the AHF. is the chairman of LandAid, the property at the London Docklands Development The priorities are: industry’s principal charity and is also chairing Corporation working on many of the key 1. Growing our loan book and attracting the shadow board for the Curzon Urban Docklands developments. Her earlier career more investment Regeneration Company in Birmingham. was as a planning officer at London Borough of Southwark and Surrey County Council. 2. Introducing new grant and loan Liz has also recently been appointed to programmes chair the embryonic organisation that is being Elizabeth Davidson OBE set up under the Government’s New Property 3. Strengthening the delivery of our Chair of Grants Committee Model initiative to asset-manage departmental community support services (Trustee for Scotland) property portfolios. 4. Measuring and reporting on the impact Liz Davidson is the Senior Project Manager of the projects we have supported Roy Hodson for the restoration of the Mackintosh Building 5. Strengthening our governance Chair of Audit & Risk Committee at Glasgow School of Art. Liz was previously 6. Working with key partners to build Roy Hodson joined the Board in April 2016. Director of the Merchant City Townscape the capacity of community heritage He brings considerable financial expertise Heritage Initiative. Prior to this, she was organisations to the Board having been a partner at PwC director of the Glasgow Building Preservation for 26 years, including serving clients in the Trust, developing projects such as the • Trustees endorsed proposals to develop From top: St. Andrews in the Square Centre for Ashton Gate, Bristol / Photography © Nick Church property, construction and financial services Traditional Music, the Tobacco Lairds House AHF as the main social investment Hastings Pier, Sussex sectors. Roy was a member of the Supervisory Castle Roy Trust, Nethy Bridge organisation in the heritage sector Board at PwC, chaired the Audit & Risk and St. Francis Centre in the city’s Gorbals. and a number of new initiatives were Committee and was a non-executive director Whilst working at the Scottish Civic Trust Liz agreed to achieve this. This included the on the UK Deals Executive. He is a Chartered also developed and launched the Doors Open AHF purchasing Community Shares where Accountant (ICAEW). Roy is also a mentor Day initiative to encourage free public access appropriate – e.g. debt for equity swaps on to social entrepreneurs involved in start-ups and understanding to the city’s best historic existing loans, converting grant offers into and scale-ups at The School for Social buildings and sites – an initiative that is now Community Shares and purchasing shares Entrepreneurs in London. flourishing across the UK. She is a serving instead of offering grants or loans. committee member of the HLF Panel for Scotland; a trustee of the Kilmahew St. Peter’s Trust, and an Honorary Fellow of the Royal Incorporation of Architects in Scotland.

58 www.ahfund.org.uk www.ahfund.org.uk 59 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

TRUSTEES, EXECUTIVE AND THE AHF TEAM Trustees

Kate Dickson Rita Harkin Kate heads Creative Heritage Consultants (Trustee for Northern Ireland) Ltd, a multi-disciplinary practice that offers Rita Harkin is a built heritage consultant. a range of advisory services to those with From 2000 to 2013 Rita fronted the Ulster responsibilities for listed and historic buildings, Architectural Heritage Society, leading especially redundant structures and those it on high profile planning casework and ‘at risk’. She gained particular experience in campaigns, she also developed its education creative reuse as the Director of Heritage and traditional building skills programmes. Works BPT, a post she held for over ten Prior to that she was employed as Heritage years, during which time the Trust delivered Officer with Belfast City Council; a researcher a number of major regeneration projects, with Rachel Bevan Architects; and Northern including the nationally significant shell repair Ireland Development Officer for the Ecology of Murrays’ Mills in Ancoats, Manchester. She Building Society. Rita currently serves on the continues her activities in the heritage building board of Hearth Revolving Fund, Northern trust sector as Chair of the Heritage Trust Ireland’s first BPT, and the Irish Landmark Network in the Midlands and National Council Trust, which saves and restores historic member for the Association for Industrial buildings to provide holiday accommodation. Archeology. Kate is a registered architect and She has an MA in Town Planning from a membership assessor for the Institute of Edinburgh College of Art and a Royal Society Historic Building Conservation. She is a mentor, of Ulster Architects’ Diploma in Historic monitor and expert adviser to the Heritage Building Conservation. Rita was awarded Lottery Fund, and previously served on the a Winston Churchill Travelling Fellowship Heritage Lottery Fund NW regional committee. to study best practice in universal access to historic buildings in Scandinavia and the John Duggan DL United States. John Duggan is an experienced businessman with over 35 years in real estate and retail in Richard Keen the UK, the US, Asia and continental Europe. (Trustee for Wales) He is currently Chairman of Baytree Logistics Richard Keen is a consultant specialising in Properties, in partnership with AXA IM Real working with local communities in developing Assets and Chair of Milton Keynes heritage as an aid to economic and cultural Development Partnership. He was Chairman regeneration. He has over forty years’ and previously Chief Executive of Gazeley for experience working in Welsh heritage twenty years, a leading international developer including employment with the National of distribution space, a wholly owned Museum of Wales and the National Trust subsidiary of ASDA/Wal*Mart, and Property with direct responsibility for the care Director and member of the management and conservation of historic buildings and board of ASDA. Prior to joining Gazeley he was landscapes and the implementation and in the house-building sector with Barratts management of medium and large scale and Hunting Gate. He has held a number projects. He has served on the Ancient of other Non-Executive appointments on the Monuments Board for Wales, the Historic boards of AIM listed companies. His previous Buildings Advisory Council (Chairman from not for profit appointments include being May 2004 to July 2010), and Heritage Lottery Chair of Milton Keynes Parks Trust for twenty Fund Committee for Wales. He is currently the years, a board member of the China US Chair for Wales of the Heritage Trust Network Centre for sustainability, a member of (Association of Preservation Trusts); Trustee the Investment Committee of the Bridges of the Welsh Georgian Trust; Director of the Ventures Sustainability Fund and, until Commodum Trust; Trustee of the Land Phil recently an adviser to Actis (previously Global Trust and the Pembrey Mountain Trust. Left to right from front: the Commonwealth Development Fund) Elizabeth Davidson, Liz Peace, Roy Hodson, on logistics development in Africa. Kate Dickson, Rita Harkin, John Duggan Phillip Kirby, Richard Keen, Myra Barnes

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TRUSTEES, EXECUTIVE AND THE AHF TEAM TRUSTEES, EXECUTIVE AND THE AHF TEAM Trustees Executive Executive The AHF team

Phillip Kirby OBE Ian Morrison in 2001, starting in London before relocating Contracted Support Officers Chair of Nominations Committee Chief Executive to Yorkshire to join the new regional team. In 2012, the AHF launched a new initiative, Phillip Kirby brings with him years of Ian Morrison was appointed Chief Executive He went on to manage a Townscape Heritage part-funded by Historic England and Historic experience in project management, of the AHF in March 2015 and has sought to Initiative scheme in the North West Environment Scotland, to provide locally- construction, professional appointments expand the charity’s advice, grants and loan of England before joining the AHF. based support to community organisations and budgeting. Previously he was Managing services to help meet the growing demand of seeking to take on heritage buildings at risk, Director of National Grid Property specialising enterprising communities that wish to repair Andy Richardson engaging Support Officers on a contracted in the clean-up, regeneration and sale of, often and re-use historic buildings they value for Investment Manager basis across England and Scotland. contaminated, ex-gas and electrical industrial public benefit. Ian was previously the Head of Having joined the AHF in 2012, Andy was The Support Officers are: sites as well as the design and construction Historic Environment at the Heritage Lottery appointed Investment Manager in 2015 Josephine Brown of new build offices and fit outs for the group. and is responsible for the AHF’s loan facilities Fund (HLF), where he held the lead UK policy Support Officer (South West) He was involved with many industry bodies, role for the historic environment since 2008 and a community share portfolio. Having Tessa Hilder chairing two contaminated land research and designed and introduced HLF’s Heritage worked within the social investment sector Support Officer (East England and South East) groups, was a member of the Lord Rogers- Enterprise and Grants for Places of Worship for over five years, and with a further nine led Urban Task force and also chaired working grant programmes. Prior to joining HLF, years in retail, commercial and corporate Karen Houghton groups with the Government in the early Ian worked for Historic England for 15 years banking, Andy brings a wealth of appropriate Support Officer (Yorkshire and Humber) 1990s to help formulate the contaminated as a Team Leader and Inspector of Ancient experience to the AHF and its borrowers. Lucie Oakley land legislation that we have today. Prior to Monuments, specialising in the regeneration Further, he has been employed in a Support Officer (East Mids and East England) campaigning role for a major national charity National Grid and British Gas, he worked for of historic former industrial sites in the far Elizabeth Perkins Stanhope dealing with the development and South West. He is a serving member of the and as a Regional Grants Manager for a Support Officer (West Midlands) construction of large office developments Cathedrals Fabric Commission for England Non-Departmental Public Body, delivering and Harriet Roberts and business parks, leading design teams and Historic England’s Expert Advisory monitoring over £9m of funding to grass-roots Support Officer (North East) and developing sites such as Stockley Park, Group. Ian lectures widely on heritage-led charities in Yorkshire and the Humber. Chiswick and Broadgate. His early career was regeneration and is currently a visiting Daniel Rose in Civil Engineering on projects ranging from lecturer at the Paris-Sorbonne University. The AHF team Support Officer (London) roads and bridges to sea and river defences, AHF employees Jess Steele including the Thames Barrier. Gavin Richards Gordon Barr Support Officer (North West) Operations Manager Support Officer (Scotland) Executive Gavin was appointed AHF Operations appointed 1 April 2016 Professional Advisers: The executive comprises two teams: Manager in 2015, with additional responsibility Diane Kendal Solicitors: Operations and Investment. The AHF for projects in Yorkshire, the North East Personal Assistant and Office Manager Bates, Wells & Braithwaite Operations Team runs our advice service and of England, and Northern Ireland. Based retired on 31 October 2015 10 Queen Street Place, London EC4R 1BE grants programmes. The AHF Investment in Sheffield, Gavin joined the AHF in 2007, Ian Morrison Brechin Tindal Oatts Team manages our lending function, looks supporting building preservation trusts Chief Executive and Company Secretary 48 St Vincent Street, Glasgow G2 5HS after our cash investments and assists the and other voluntary sector groups to find DWF, Bridgewater Place, Chief Executive with attracting new funding. sustainable new uses for historic buildings Ian Rice Water Lane, Leeds LS11 5DY The Investment Team is based in our central at risk. Since 2012 he has managed the AHF’s Loans and Policy Officer London office, whereas Operations Team team of freelance Support Officers, and is also Gavin Richards Morton Fraser, Quartermile Two, members are dispersed across the English responsible for the AHF’s grants programmes. Operations Manager 2 Lister Square, Edinburgh EH3 9GL regions and in Scotland, where they are Andy Richardson Russell-Cooke Solicitors better placed to meet the needs of locally- Gavin has a long-standing interest in both Investment Manager 2 Putney Hill, London SW15 6AB based groups. the heritage and voluntary sector and is Paul Tozer (Finance Manager) Auditors: passionate about the contribution historic retired on 29 May 2015 Kingston Smith LLP, Devonshire House, The Senior Management Team comprises buildings can make to urban regeneration. 60 Goswell Road, London EC1M 7AD the Chief Executive, the Operations Manager After a period spent working abroad following From 1 November 2015 the AHF’s financial and and the Investment Manager. graduation, he worked at the Directory payroll services have been performed under Bankers: of Social Change, where he researched contract by Kingston Smith for a fixed fee. Barclays Bank plc, 167 High Street, and co-wrote the best-selling Guide to the Bromley BR1 1NL Major Trusts. His experience in the heritage sector began at the Heritage Lottery Fund Accounts are also held with National Westminster Bank plc.

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REPORT ON THE AHF’S FINANCIAL POSITION AUDITOR’S STATEMENT

The Statement of Financial Activities and Independent Auditor’s Statement Balance Sheet are not the full statutory to the Trustees and Members of accounts but provide a summary of the The Architectural Heritage Fund information which appears in the full We have examined the summarised financial accounts. The auditor has issued an statements of The Architectural Heritage Fund unqualified report on the full annual financial for the year ended 31 March 2016. statements and on the consistency of the Trustees’ annual report with those financial Respective Responsibilities of the trustees statements. Their report on the full annual and the auditor financial statements contained no statement The Trustees (who are also the directors under sections 498(2)(a), 498(2)(b) or 498(3) of The Architectural Heritage Fund for the of the Companies Act 2006. The full accounts purposes of company law) are responsible for were approved by the Trustees on 28 preparing the summarised financial statements September 2016 and copies have been in accordance with applicable United Kingdom submitted to the Charity Commission and law and the recommendations of the Charities Registrar of Companies. SORP. Our responsibility is to report to you our opinion on the consistency of the summary The summarised accounts may not contain financial statements with the full annual sufficient information to allow for a full financial statements. understanding of the financial affairs of the Company. Detailed information about the We also read the other information AHF’s income and expenditure in 2015/16 contained in the summarised annual and its overall financial position at the end report and consider the implications for our of the year can be found in the full statutory report if we become aware of any apparent Report and Financial Statements for the misstatements or material inconsistencies Year Ended 31 March 2016. Copies may with the summarised financial statements. be obtained from the AHF’s website (www.ahfund.org.uk/publications) or Basis of Opinion directly from the AHF. We have conducted our work in accordance with Practice Note 11 issued by the Auditing Practices Board. Our report on the charitable company’s full annual financial statements describes the basis of our opinion on those Liz Peace financial statements. Chairman 28 September 2016 Opinion For and on behalf of the AHF Clockwise from above: In our opinion the summarised financial Covesea Lighthouse, Moray / Photography © Colin McLean Council of Management Ashton Gate, Bristol / Photography © Nick Church statements are consistent with the full annual Oldpark Carnegie Library, Belfast financial statements of The Architectural Rockfield Centre, Oban Knockando Woolmill, Moray / Photography © Colin McLean Heritage Fund for the year ended 31 March Dunoon Burgh Hall Trust, Argyll 2016.

Nicholas Brooks (Senior Statutory Auditor) For and on behalf of Kingston Smith LLP, Statutory Auditor. Devonshire House, 60 Goswell Road, London EC1M 7AD

28 September 2016

64 www.ahfund.org.uk www.ahfund.org.uk 65 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

BENEFACTORS AND FRIENDS SUMMARISED FINANCIAL STATEMENTS In the year 1 April 2015 to 31 March 2016 Summarised statement of financial activities for the year ended 31 March 2016

Endowment Restricted Unrestricted 2016 2015 Fund £ Fund £ Fund £ Total £ Total £ Income and endowments from: Donations and legacies Donations and legacies from – – 890 890 1,101 Benefactors (£20,000 or more) Friends (£100 – £400) individuals and corporations Government D K Robinson Government grants 1,233,485 409,935 – 1,643,420 1,039,000 Other grants – 69,000 – 69,000 33,987 Cadw Welsh Historic Monuments Streonshalh Limited 1,233,485 478,935 890 1,713,310 1,074,088 P N Tomlinson

Nigel M Waring Charitable activities – – 18,760 18,760 7,511 – – 18,760 18,760 7,511

Investments Interest receivable – on bank deposits – – 13,312 13,312 11,367 Interest receivable – on loans disbursed – – 353,378 353,378 429,978 Department for Culture, Media and Sport Rent receivable – – 38,149 38,149 34,938 – – 404,839 404,839 476,283

Total income 1,233,485 478,935 424,489 2,136,909 1,557,882

Expenditure on: Raising funds Generating voluntary income – – 15,108 15,108 30,663 Historic England Investment management – financial – – 6,758 6,758 6,028 Investment management – property – – 13,339 13,339 21,490 – – 35,205 35,205 58,181

Charitable activities Loan and grant Losses on loans not previously 156,347 – – 156,347 91,412 provided for Historic Environment Scotland Increase / (decrease) in the loan 72,978 – 14,842 87,820 100,707 bad debt provision Other loan-related activities – – 155,367 155,367 188,465 Grantmaking – 366,437 98,544 464,981 758,963 229,325 366,437 268,753 864,515 1,139,548

Development and advocacy Capacity building – 43,498 200,930 244,428 242,520 Annual Report and other publications – – 57,036 57,036 67,223 Contribution to the UK Association – – 5,000 5,000 5,000 Charities of Preservation Trusts Strathclyde Building Preservation Trust – 43,498 262,966 306,464 314,743

Total expenditure on charitable 229,325 409,935 531,719 1,170,979 1,454,291 activities

Total expenditure 229,325 409,935 566,924 1,206,184 1,512,472

Net movement in funds: Net surplus/(deficit) for the year 1,004,160 69,000 (142,435) 930,725 45,410

Balances at 1 April 2015 10,609,801 50,000 2,432,444 13,092,245 13,046,835

Balances at 31 March 2016 11,613,961 119,000 2,290,009 14,022,970 13,092,245

66 www.ahfund.org.uk www.ahfund.org.uk 67 Annual Report 2015-16 The Architectural Heritage Fund Building a better future from our past

SUMMARISED FINANCIAL STATEMENTS Summarised balance sheet as at 31 March 2016

2016 2015 £ £ £ £ Fixed assets Investment property 500,000 500,000 Other tangible assets – 52,785 Programme related investments The UK’s leading heritage social investor Loans disbursed for preservation projects 6,532,155 8,299,240 and only specialist heritage lender. Providing Total fixed assets 7,032,155 8,852,025 advice, grants and loans to help communities Current assets regenerate the historic buildings they value. Debtors Loan interest receivable 414,264 765,475 Government grants receivable 128,038 334,263 Non-government grants receivable – 260,000 Loan redemption funds held by solicitor – 210,153 Endowment funding receivable 1,233,485 – Other accrued income and prepayments 1,968 34,088 1,777,755 1,603,979

Cash at bank and short-term deposits 7,905,896 5,334,113 9,683,651 6,938,092

Creditors: amounts falling due within one year (2,692,836) (2,697,872)

Net current assets 6,990,815 4,240,220

Net assets 14,022,970 13,092,245

Funds Endowment fund 11,613,961 10,609,801 Restricted fund 119,000 50,000 Unrestricted funds Designated lending fund 1,670,009 1,812,444 General fund 620,000 620,000

2,290,009 2,432,444

Total funds 14,022,970 13,092,245

Programme related investments include £6,027,193 in loans outstanding which are due for repayment after more than one year (2015: £5,378,725). Interest receivable on these loans amounted to £265,394 (2015: £287,789).

The financial statements were approved by the Members of the Board, and authorised for issue, on 28 September 2016 and signed on their behalf by:

Liz Peace Roy Hodson Chairman Chairman of the Audit & Risk Committee 28 September 2016 28 September 2016

68 www.ahfund.org.uk www.ahfund.org.uk 89 The Architectural Heritage Fund The Architectural Heritage Fund 3 Spital Yard, Spital Square London E1 6AQ t: 020 7925 0199 e: [email protected] www.ahfund.org.uk

Company no. 1150304 Charity no. 266780 Scottish Charity no. SC043840 Financial Services Register no. 707421 Building a better future from our past | Annual Report 2015–16 We are grateful for financial support from:

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