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REGISTERED NUMBER: 07520640 (England and Wales)












LOWTHER GARDENS (LYTHAM) MANAGEMENT
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






LOWTHER GARDENS (LYTHAM) MANAGEMENT
LIMITED (REGISTERED NUMBER: 07520640)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOWTHER GARDENS (LYTHAM) MANAGEMENT
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: T A Mallabone
S M Wood
D F Rowe
W A Swift
L Fenton
M W Fenton
R Matthews
R G Fielden
L J Govan





REGISTERED OFFICE: The Lowther Pavilion Theatre
West Beach
Lytham St. Annes
Lancashire
FY8 5QQ





REGISTERED NUMBER: 07520640 (England and Wales)





ACCOUNTANTS: Rushtons
Chartered Accountants
Avroe House
Avroe Crescent
Blackpool Business Park
Blackpool
Lancashire
FY4 2DP

LOWTHER GARDENS (LYTHAM) MANAGEMENT
LIMITED (REGISTERED NUMBER: 07520640)

BALANCE SHEET
31 MARCH 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 287,258 306,992

CURRENT ASSETS
Stocks 13,824 11,281
Debtors 5 53,682 41,504
Cash at bank 560,740 486,377
628,246 539,162
CREDITORS
Amounts falling due within one year 6 800,154 704,938
NET CURRENT LIABILITIES (171,908 ) (165,776 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

115,350

141,216

CREDITORS
Amounts falling due after more than
one year

7

(10,220

)

(15,220

)

PROVISIONS FOR LIABILITIES (21,077 ) (23,322 )
NET ASSETS 84,053 102,674

RESERVES
Income and expenditure account 84,053 102,674
84,053 102,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which 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 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 company.

LOWTHER GARDENS (LYTHAM) MANAGEMENT
LIMITED (REGISTERED NUMBER: 07520640)

BALANCE SHEET - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by:





T A Mallabone - Director


LOWTHER GARDENS (LYTHAM) MANAGEMENT
LIMITED (REGISTERED NUMBER: 07520640)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Lowther Gardens (Lytham) Management Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling (£) and are rounded to £1.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 30 years
Plant and machinery - 10% on cost
Computer equipment - Straight line over 3 years

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


LOWTHER GARDENS (LYTHAM) MANAGEMENT
LIMITED (REGISTERED NUMBER: 07520640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Limited by guarantee
The Company is limited by guarantee and therefore has no share capital. The members contribute to the funds of the Company by the payment of annual subscriptions and in the event of insolvency the members would be liable to pay £1 each.

Other operating income
Other operating income represents Council and other funding received during the period. Council funding is recognised in the income and expenditure account of the period in which monies are received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 13 ) .

LOWTHER GARDENS (LYTHAM) MANAGEMENT
LIMITED (REGISTERED NUMBER: 07520640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 200,849 236,209 - 11,736 448,794
Additions - 6,895 2,000 1,631 10,526
At 31 March 2024 200,849 243,104 2,000 13,367 459,320
DEPRECIATION
At 1 April 2023 20,085 112,978 - 8,739 141,802
Charge for year 6,695 21,780 17 1,768 30,260
At 31 March 2024 26,780 134,758 17 10,507 172,062
NET BOOK VALUE
At 31 March 2024 174,069 108,346 1,983 2,860 287,258
At 31 March 2023 180,764 123,231 - 2,997 306,992

Included within Plant and Machinery are assets held under hire purchase agreements with a Net Book Value of £27,248 (2023: £31,748). Depreciation of £4,500 (2022: £4,500) was charged on these assets during the year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 33,093 25,065
Tax 211 211
Prepayments 20,378 16,228
53,682 41,504

LOWTHER GARDENS (LYTHAM) MANAGEMENT
LIMITED (REGISTERED NUMBER: 07520640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
FBC Loan 5,000 5,000
Hire purchase contracts (see note 8)
-

3,575
Trade creditors 25,824 15,148
Social security and other taxes 4,909 2,193
VAT 37,637 8,861
Other creditors 260,681 307,451
Accruals and deferred income 466,103 362,710
800,154 704,938

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
as restated
£    £   
FBC Loan 10,220 15,220

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
as restated
£    £   
Net obligations repayable:
Within one year - 3,575

Non-cancellable operating leases
2024 2023
as restated
£    £   
Within one year 1,893 1,893
Between one and five years 2,997 4,890
4,890 6,783

LOWTHER GARDENS (LYTHAM) MANAGEMENT
LIMITED (REGISTERED NUMBER: 07520640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Hire purchase contracts - 3,575
FBC loan 15,520 20,220
15,520 23,795

The bank and FBC loans are secured on the fixed assets included in these accounts and those of Lowther Gardens Lytham Trust.

10. RELATED PARTY DISCLOSURES

The directors of Lowther Gardens (Lytham) Management Limited are also trustees of Lowther Gardens Lytham Trust, a charity which is considered to be a related entity.

At the year end, Lowther Gardens (Lytham) Management Limited owed £245,203 (2023: £295,281) to Lowther Gardens Lytham Trust arising from transfers between the two entities. During the year, purchases from Lowther Gardens Lytham Trust totalled £24,000 (2023: £12,000) for rental charges.

11. ULTIMATE CONTROLLING PARTY

Lowther Gardens Lytham Trust is regarded by the directors as being the company's ultimate parent undertaking.

The principal place of business for Lowther Gardens Lytham Trust is Lowther Pavilion, West Beach, Lytham St Annes, Lancashire, FY8 5QQ.