REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 December 2024 |
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 2024 |
for |
Lincoln Civic Trust Limited |
Lincoln Civic Trust Limited |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Statement of Financial Activities | 3 |
Balance Sheet | 4 | to | 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 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 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 Civic Trust has recovered well in 2024 with more activity now taking place. The meeting schedule has fully returned to the original timetable and the Planning Committee has resumed its regular meetings. Our Secretary resigned due to ill health in August and for financial reasons it is not our intention to fill the vacancy. The office therefore remains closed, and all enquiries are dealt with by telephone or e-mail. The volunteer team attend regularly to maintain security and to carry out basic office functions. We have continued to be part of the Sincil Bank Regeneration Project and are represented on HEAP (Historical Environmental Advisory Panel) and attend the meetings. |
At the Annual General Meeting, Mr Tony Maltby was re-elected as the Chairman and Tom Cave as the Vice Chairman. Chris Pickering agreed to continue as the Members and Social committee Chairman. |
ACHIEVEMENT AND PERFORMANCE |
Significant achievements |
The Civic Trust Planning Committee has remained active during the year and has returned to the regular meeting schedule The committee is asked by the City of Lincoln Council to act as a consultee to many of the planning application that are received and is then asked to comment on them by use of the Planning on-line portal. The number of applications during the year has returned to the levels experienced prior to the pandemic and hence the workload of the committee has increased. The applications continue to be a mix of commercial and residential but now a marked slowing of the applications for student accommodation. The committee is made up of six members of the Civic Trust. |
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 Civic Trust. The project to renovate the North Range of St Mary's Guildhall, the Heritage Action Zone, finished in March 2023 and the interest in the building has increased. The stonemasons Booths Stonemasons continued to rent the North range and we now have a Blacksmith business using the space which we consider fits the Civic Trust's objective. |
We believe that the reserves are such that the Civic Trust can continue to function but operating costs continue to grow and although we are making cost savings, the Civic Trust continues to draw from the reserves to subsidise the operating affairs. During the year we did engage the Blacksmith to produce some internal gates in order to remove the wooden and wire structure and increase security. These are now in place and look very good. |
We believe that the reserves are such that the Trust can continue to function but that the operating costs are eating into the reserves and at some stage a more serious decision as to the future must be taken. At the year end there was £43,187 (2023:£51,035) 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 2024 |
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 to 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 |
Bankers |
National Westminster Bank plc |
Smiths Bank Branch |
225 High Street |
Lincoln LN2 1AZ |
Approved by order of the board of trustees on |
Lincoln Civic Trust Limited |
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 |
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 | 51,035 |
Lincoln Civic Trust Limited (Registered number: 00527492) |
Balance Sheet |
31 December 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 7 |
Tangible assets | 8 |
CURRENT ASSETS |
Stocks | 9 |
Debtors | 10 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 51,035 |
TOTAL FUNDS | 51,035 |
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. |
Lincoln Civic Trust Limited (Registered number: 00527492) |
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 |
Lincoln Civic Trust Limited |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
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 exemption 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. |
Intangible assets |
Amortisation is provided over the estimated useful life of 4 years on a straight line basis. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - |
Computer equipment | - |
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 2024 |
3. | OTHER TRADING ACTIVITIES |
2024 | 2023 |
£ | £ |
Members' outings | 140 | (285 | ) |
Book sales | - | 114 |
Guildhall lettings | 4,435 | 6,029 |
4. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Deposit account interest |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
Computer software amortisation |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
No trustees received any remuneration in the current or prior year. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. |
7. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
Additions |
AMORTISATION |
Charge for year |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Lincoln Civic Trust Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
8. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
9. | STOCKS |
2024 | 2023 |
£ | £ |
Stock of books |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Prepayments and accrued income |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Accruals and deferred income |
12. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.24 | in funds | 31.12.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 51,035 | (7,848 | ) | 43,187 |
TOTAL FUNDS | (7,848 | ) | 43,187 |
Lincoln Civic Trust Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
12. | 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 | 6,066 | (13,914 | ) | (7,848 | ) |
TOTAL FUNDS | ( |
) | (7,848 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 54,384 | (3,349 | ) | 51,035 |
TOTAL FUNDS | 54,384 | (3,349 | ) | 51,035 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 7,400 | (10,749 | ) | (3,349 | ) |
TOTAL FUNDS | 7,400 | (10,749 | ) | (3,349 | ) |
13. | RELATED PARTY DISCLOSURES |
During the year, expenses amounting to £547 (2023: £744) were reimbursed to one of the trustees for expenses incurred personally on behalf of the charity. |