REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 December 2021 |
for |
Lincoln Civic Trust Limited |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 December 2021 |
for |
Lincoln Civic Trust Limited |
Lincoln Civic Trust Limited |
Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 6 | to | 9 |
Lincoln Civic Trust Limited (Registered number: 00527492) |
Report of the Trustees |
for the Year Ended 31 December 2021 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The Objects of the Charity as stated in the Memorandum of Association are summarised as follows: |
- to increase and develop public amenities |
- to preserve buildings and monuments of historic or artistic value and places of natural beauty |
- to encourage and co-ordinate activities relating to architecture, music, drama and other arts |
- to co-operate for these purposes with local authorities and with bodies with similar aims, both local and national |
- to encourage the work of the City's artists and craftsmen |
- to encourage a sense of citizenship by stimulating interest in these matters |
Significant activities and public benefit |
In setting our objectives and planning our activities, our Trustees have given careful consideration to the Charity Commission's guidance on public benefit. |
The effects of the ongoing Covid-19 Pandemic have for another year curtailed the activities of the Trust. We had hoped to restart our programme in May but decided that as the virus was still prevalent, trying to maintain social distancing in the old buildings presented too many difficulties that it was advisable to postpone events until the end of the summer. However we were able in September to start our members meetings again but with the resurgence of the virus in late October we only completed two and were able to hold the delayed Annual General Meetings. |
We have continued to operate the office on a "hybrid" version with our secretary Cate working from home but visiting the office regularly. We have continued to be a part of the Sincil Bank Regeneration Project and attend meetings of HEAP virtually. |
At our delayed Annual General Meetings, our Chairman Alan Nugent retired from his post and in appreciation of his past service, was asked to become our President which he accepted and now replaces the rotational system we had in place previously. We wish him well and thank him for his time in office and for the years of service. |
Mr Tony Maltby was appointed to the position of Chairman as an interim appointment and Mr Tom Cave was appointed Vice Chairman. |
ACHIEVEMENT AND PERFORMANCE |
Significant achievements |
The Civic Trust Planning Committee has continued to operate throughout by the use of e-mail and have continued to comment on all of the planning applications where the City Of Lincoln Council request our opinion. The number of applications has for obvious reasons, not yet recovered to the pre-pandemic levels but as the lockdowns have been lifted small surges in applications have been experienced. The applications continue to be a mix of commercial and residential and a continued growth in the provision of student accommodation. |
FINANCIAL REVIEW |
Reserves policy |
The Council of Management monitors the Charity's reserves in relation to its current and planned activities. Part of the reserve is allocated to the increasing administration burden faced by the trust in performing its duties under the Objectives of the Trust. The project to bring the North Range of St Mary's Guildhall has moved forward and in early 2022 the work should be commencing. We have been assured that the work should not interfere with our operation but we have offered to assist where we can and look forward to seeing the work finished. We have been asked to be part of the Steering Committee which we have accepted. At the year end there was £61,471(2020:£63,765) of unrestricted reserves. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its Memorandum and Articles of Association, dated 31 December 1953. It is a company limited by guarantee as defined by the Companies Act 2006. The liability of each member in the event of winding up is limited to £1. |
Lincoln Civic Trust Limited (Registered number: 00527492) |
Report of the Trustees |
for the Year Ended 31 December 2021 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Recruitment and appointment of new trustees |
The Trust would be looking for a person who has a knowledge of Lincoln and an interest in its history and a desire to improve the environment of the City for future generations to enjoy. The Trust is not a Heritage organisation but one that has to have a vision of the future whilst protecting the past. This would therefore require a Trustee to be mindful of the need to encourage innovation but not at the expense of destroying all that is good in the City. |
A prospective Trustee would be interviewed by the Executive committee who would then propose a member to the Trust's Council of Management who would have the opportunity to interview the person if required before proposing the prospective Trustee the be elected at the Annual General Meeting |
Organisational structure |
The Articles of Association provide for the business of the Trust to be managed by a Council of Management. The Council may delegate any of its powers to committees consisting of Council Members. |
Related parties |
Council Members are "related" to the Trust. Lincoln Civic Trust is itself represented on the board of several other organisations and in this way is related to them. These relationships are described in detail in the Annual Report. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Wright Vigar Limited |
Chartered Accountants & Business Advisers |
15 Newland |
Lincoln |
Lincolnshire |
LN1 1XG |
Bankers |
National Westminster Bank plc |
Smiths Bank Branch |
225 High Street |
Lincoln LN2 1AZ |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Lincoln Civic Trust Limited |
Independent examiner's report to the trustees of Lincoln Civic Trust Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
J E O'Hern FCA |
Wright Vigar Limited |
Chartered Accountants & Business Advisers |
15 Newland |
Lincoln |
Lincolnshire |
LN1 1XG |
2 September 2022 |
Lincoln Civic Trust Limited |
Statement of Financial Activities |
for the Year Ended 31 December 2021 |
2021 | 2020 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 63,765 |
Lincoln Civic Trust Limited (Registered number: 00527492) |
Balance Sheet |
31 December 2021 |
2021 | 2020 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Stocks | 8 |
Debtors | 9 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 11 | ( |
) |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 63,765 |
TOTAL FUNDS | 63,765 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Lincoln Civic Trust Limited |
Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
1. | STATUTORY INFORMATION |
Lincoln Civic Trust Limited is a Charitable company, limited by guarantee, registered in England and Wales. The charitable company's registered number and registered office address can be found on the Report of the Trustees. |
The presentational currency of the charitable company is Sterling. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Financial reporting standard 102 - reduced disclosure exemptions |
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Lincoln Civic Trust Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
3. | OTHER TRADING ACTIVITIES |
2021 | 2020 |
£ | £ |
Members' outings | 60 | 186 |
Book sales | 123 | - |
Guildhall lettings | 687 | 158 |
4. | INVESTMENT INCOME |
2021 | 2020 |
£ | £ |
Deposit account interest |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2021 | 2020 |
£ | £ |
Independent examination | 936 | 828 |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020. |
7. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 January 2021 and 31 December 2021 |
DEPRECIATION |
At 1 January 2021 and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
8. | STOCKS |
The charitable company currently holds stock of books with a notional value of £13,128. However, as it has been held for several years and is very slow moving the net realisable value is significantly lower and this is what is shown on the balance sheet. |
Lincoln Civic Trust Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Prepayments and accrued income |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Other creditors |
12. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.21 | in funds | 31.12.21 |
£ | £ | £ |
Unrestricted funds |
General fund | 63,765 | (2,332 | ) | 61,433 |
TOTAL FUNDS | (2,332 | ) | 61,433 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2,030 | (4,362 | ) | (2,332 | ) |
TOTAL FUNDS | ( |
) | (2,332 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.20 | in funds | 31.12.20 |
£ | £ | £ |
Unrestricted funds |
General fund | 73,161 | (9,396 | ) | 63,765 |
TOTAL FUNDS | 73,161 | (9,396 | ) | 63,765 |
Lincoln Civic Trust Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
12. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1,793 | (11,189 | ) | (9,396 | ) |
TOTAL FUNDS | 1,793 | (11,189 | ) | (9,396 | ) |
13. | RELATED PARTY DISCLOSURES |