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REGISTERED COMPANY NUMBER: 03686322 (England and Wales)
REGISTERED CHARITY NUMBER: 1074784














Croston Old School

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 December 2024

Croston Old School






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Reference and Administrative Details 1

Report of the Trustees 2 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6 to 7

Notes to the Financial Statements 8 to 13

Croston Old School

Reference and Administrative Details
for the year ended 31 December 2024



TRUSTEES Mrs K Almond
Mrs DJ Marston (resigned 26/6/2024)
SM Parkinson
MD Greenhalgh (resigned 23/7/2024)
MT Peet
MJ Driver
Mrs PA Peet
Mrs JFE Fenemore (appointed 16/4/2024)
Mrs JL Carter (appointed 23/7/2024)
Mrs RJ Barnes (appointed 23/7/2024)


COMPANY SECRETARY Mrs K Almond


REGISTERED OFFICE The Old School
Church Street
Croston
Leyland
Lancashire
PR26 9HA


REGISTERED COMPANY
NUMBER
03686322 (England and Wales)


REGISTERED CHARITY NUMBER 1074784


INDEPENDENT EXAMINER McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Croston Old School (Registered number: 03686322)

Report of the Trustees
for the year ended 31 December 2024


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 2024. 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 are to support and develop community provision in the villages of Croston, Bretherton and Ulnes Walton and establish a Community Resource Centre in Croston, Lancashire.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives.

Volunteers
The support of the many volunteers, who assist in a number of fund raising events, is much appreciated by the trustees.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
Income
2024 saw a deterioration in income from grant funding and bar and refreshment sales with Pop up Café and Organised Event activity diminishing.

Two grants were received from Lancashire County Council and Chorley Borough Council. The grants of £400 and £250 were used to provide IT equipment and the replacement of lighting with more energy efficient units.

All areas of the Old School remain popular with the local community for both community activities and family functions with Trustees striving to further advertise the facilities across a broader catchment area.


Expenditure
Although similar to running costs incurred in 2023, expenditure costs once again benefitted from the fixing of utility and communications costs on longer term contracts. These contracts will be renegotiated as they expire, but remain at the mercy of global events and risks within the domestic economy.

Whilst event activity was behind that of previous years, labour costs have risen in line with statutory minimum wage requirements. Several new staff have been engaged on zero hours contracts.

A part time manager and a cleaner have formal employment arrangements regularly reviewed by the trustees.
Work to generate further bookings and to secure grants for building improvements and enhanced service provision remains the priority of Trustees.

FINANCIAL REVIEW
Principal funding sources
The principal contribution came from the Community Fund (National Lottery Charities Board), without whom the project would not have been possible.

Reserves policy
The reserves policy is to accumulate funds so as to have as many years running costs as possible in reserve to cover cyclical maintenance, which will provide long term security to the users of the Community Resource Centre. The amount invested in tangible fixed assets is not available to be used for revenue expenditure.


Croston Old School (Registered number: 03686322)

Report of the Trustees
for the year ended 31 December 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a charitable company limited by guarantee and not having a share capital and, in accordance with Section 30(2) of the Companies Act 1985, is exempt from the requirement to use the word 'limited' as part of its name. It is governed by a Memorandum and Articles of Association.

The charity was entered in the Central Register of Charities with effect from 22 March 1999 and accepted by the Inland Revenue as a Charity for tax purposes.

Recruitment and appointment of new trustees
The trustees meet bi-monthly and applications for trustees are periodically sought by advertisement. They are selected based on the candidates' personal skills, knowledge of the local area and the needs of the Community.

Approved by order of the board of trustees on 8 April 2025 and signed on its behalf by:





Mrs PA Peet - Trustee

Independent Examiner's Report to the Trustees of
Croston Old School

Independent examiner's report to the trustees of Croston Old School ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.

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.








JFD McMillan FCA

McMillan & Co LLP
Chartered Accountants

8 April 2025

Croston Old School

Statement of Financial Activities
for the year ended 31 December 2024

2024 2023
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 3,343 - 3,343 17,499

Charitable activities
Community Resource Centre 32,289 - 32,289 15,676
Croston in Bloom - 864 864 1,196

Other trading activities 3 16,061 - 16,061 27,397
Total 51,693 864 52,557 61,768

EXPENDITURE ON
Raising funds 4 8,191 - 8,191 9,347

Charitable activities
Community Resource Centre 47,524 10,194 57,718 59,233
Croston in Bloom - 317 317 1,180

Other 1,621 - 1,621 1,612
Total 57,336 10,511 67,847 71,372

NET INCOME/(EXPENDITURE) (5,643 ) (9,647 ) (15,290 ) (9,604 )


RECONCILIATION OF FUNDS
Total funds brought forward 12,354 272,668 285,022 294,626

TOTAL FUNDS CARRIED FORWARD 6,711 263,021 269,732 285,022

Croston Old School (Registered number: 03686322)

Balance Sheet
31 December 2024

2024 2023
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 9 1,290 261,723 263,013 272,529

CURRENT ASSETS
Stocks 10 928 - 928 1,216
Debtors 11 - - - 1,164
Cash at bank 8,942 1,298 10,240 13,154
9,870 1,298 11,168 15,534

CREDITORS
Amounts falling due within one year 12 (4,449 ) - (4,449 ) (3,041 )

NET CURRENT ASSETS 5,421 1,298 6,719 12,493

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,711

263,021

269,732

285,022

NET ASSETS 6,711 263,021 269,732 285,022
FUNDS 13
Unrestricted funds 6,711 12,354
Restricted funds 263,021 272,668
TOTAL FUNDS 269,732 285,022

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


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.


Croston Old School (Registered number: 03686322)

Balance Sheet - continued
31 December 2024

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 8 April 2025 and were signed on its behalf by:





PA Peet - Trustee

Croston Old School

Notes to the Financial Statements
for the year ended 31 December 2024

1. GENERAL INFORMATION

The charity is a registered charity in England and Wales and is unincorporated. The address of the principal office is The Old School, Church Street, Croston, Leyland, PR26 9HA.

There are no material uncertanties about the charity's ability to continue.

The presentational currency of the financial statements is the Pound Sterling (£).

The amounts in the financial statements have been rounded to the nearest £1.

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.

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.

Government grants
Small business local authority grants are accounted for under the accruals model. Where the grant is classed as revenue, it is recognised in income on a systematic basis over the periods in which the company recognises the related costs.

Tangible fixed assets
Tangible fixed assets costing more than £250 are capitalised and included at cost including any incidental expenses of acquisition.

Depreciation is provided, on all tangible fixed assets, at rates calculated to write off the cost, on a straight line basis, over their expected useful economic lives as follows:

Short leasehold improvements- over period of 50 year lease
Fixtures and fittings- over 5 or 10 years

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.


Croston Old School

Notes to the Financial Statements - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Fund accounting
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.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

3. OTHER TRADING ACTIVITIES
2024 2023
£ £
Bar sales 10,136 12,167
Other income 5,325 12,097
Fundraising events 600 3,133
16,061 27,397

4. RAISING FUNDS

Other trading activities

2024 2023
£ £
Purchases 6,589 7,588
Fundraising events 1,602 1,759
8,191 9,347

5. NET INCOME/(EXPENDITURE)

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

2024 2023
£ £
Independent examination 1,068 1,068
Payroll fees 553 544
Depreciation - owned assets 10,356 10,188


Croston Old School

Notes to the Financial Statements - continued
for the year ended 31 December 2024

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.


7. STAFF COSTS

2024 2023
£ £
Wages 19,627 15,491

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 17,499 - 17,499

Charitable activities
Community Resource Centre 15,676 - 15,676
Croston in Bloom - 1,196 1,196

Other trading activities 27,397 - 27,397
Total 60,572 1,196 61,768

EXPENDITURE ON
Raising funds 9,347 - 9,347

Charitable activities
Community Resource Centre 48,889 10,344 59,233
Croston in Bloom - 1,180 1,180

Other 1,612 - 1,612
Total 59,848 11,524 71,372

NET INCOME/(EXPENDITURE) 724 (10,328 ) (9,604 )


RECONCILIATION OF FUNDS
Total funds brought forward 11,630 282,996 294,626

TOTAL FUNDS CARRIED FORWARD 12,354 272,668 285,022

Croston Old School

Notes to the Financial Statements - continued
for the year ended 31 December 2024

9. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£ £ £
COST
At 1 January 2024 503,593 12,631 516,224
Additions - 840 840
At 31 December 2024 503,593 13,471 517,064
DEPRECIATION
At 1 January 2024 231,064 12,631 243,695
Charge for year 10,188 168 10,356
At 31 December 2024 241,252 12,799 254,051
NET BOOK VALUE
At 31 December 2024 262,341 672 263,013
At 31 December 2023 272,529 - 272,529

10. STOCKS
2024 2023
£ £
Stocks 928 1,216

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Room hire - 1,164

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Accruals and deferred income 4,449 3,041

13. MOVEMENT IN FUNDS
Net
movement At
At 1/1/24 in funds 31/12/24
£ £ £
Unrestricted funds
General fund 12,354 (5,643 ) 6,711

Restricted funds
Community Resource Centre 271,887 (10,164 ) 261,723
Carvers 371 (30 ) 341
Croston in Bloom 410 547 957
272,668 (9,647 ) 263,021
TOTAL FUNDS 285,022 (15,290 ) 269,732

Croston Old School

Notes to the Financial Statements - continued
for the year ended 31 December 2024

13. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 51,693 (57,336 ) (5,643 )

Restricted funds
Community Resource Centre - (10,164 ) (10,164 )
Carvers - (30 ) (30 )
Croston in Bloom 864 (317 ) 547
864 (10,511 ) (9,647 )
TOTAL FUNDS 52,557 (67,847 ) (15,290 )


Comparatives for movement in funds

Net
movement At
At 1/1/23 in funds 31/12/23
£ £ £
Unrestricted funds
General fund 11,630 724 12,354

Restricted funds
Community Resource Centre 282,051 (10,164 ) 271,887
Carvers 551 (180 ) 371
Croston in Bloom 394 16 410
282,996 (10,328 ) 272,668
TOTAL FUNDS 294,626 (9,604 ) 285,022

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

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 60,572 (59,848 ) 724

Restricted funds
Community Resource Centre - (10,164 ) (10,164 )
Carvers - (180 ) (180 )
Croston in Bloom 1,196 (1,180 ) 16
1,196 (11,524 ) (10,328 )
TOTAL FUNDS 61,768 (71,372 ) (9,604 )

The purpose of the restricted funds is as follows:

Croston Old School

Notes to the Financial Statements - continued
for the year ended 31 December 2024

13. MOVEMENT IN FUNDS - continued


Community Resource Centre - The fund is for the refurbishment of Croston Old School and largely relates to grants from the Community Fund (National Lottery Charities Board) towards the capital costs. The fund will be reduced by the related depreciation charge over the period of the 50 year lease.

Carvers - The fund is for the development of stone carving, including milestones and waymarkers.

Croston in Bloom - The purpose of the fund is to encourage and assist the people of Croston to increase their civic pride by working within the remit of the Royal Horticultural Society's Northwest in Bloom campaign.

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2024 or for the year ended 31 December 2023.