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REGISTERED COMPANY NUMBER: 00527492 (England and Wales)
REGISTERED CHARITY NUMBER: 249420






















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
00527492 (England and Wales)

Registered Charity number
249420

Registered office
St Mary's Guildhall
385 High Street
Lincoln
LN5 7SF

Trustees
A J M Maltby
T Cave
C J Pickering (appointed 15.5.24)

Company Secretary
T Cave

Bankers
National Westminster Bank plc
Smiths Bank Branch
225 High Street
Lincoln LN2 1AZ

Approved by order of the board of trustees on 23 April 2025 and signed on its behalf by:





A J M Maltby - Trustee

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 844 - 844 931

Other trading activities 3 4,575 - 4,575 5,858
Investment income 4 647 - 647 611
Total 6,066 - 6,066 7,400

EXPENDITURE ON
Charitable activities
Work of the Trust 13,914 - 13,914 10,749

NET INCOME/(EXPENDITURE) (7,848 ) - (7,848 ) (3,349 )


RECONCILIATION OF FUNDS
Total funds brought forward 51,035 - 51,035 54,384

TOTAL FUNDS CARRIED FORWARD 43,187 - 43,187 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 7 281 - 281 -
Tangible assets 8 546 - 546 634
827 - 827 634

CURRENT ASSETS
Stocks 9 284 - 284 284
Debtors 10 308 - 308 274
Cash at bank and in hand 42,793 - 42,793 50,803
43,385 - 43,385 51,361

CREDITORS
Amounts falling due within one year 11 (1,025 ) - (1,025 ) (960 )

NET CURRENT ASSETS 42,360 - 42,360 50,401

TOTAL ASSETS LESS CURRENT LIABILITIES 43,187 - 43,187 51,035

NET ASSETS 43,187 - 43,187 51,035
FUNDS 12
Unrestricted funds 43,187 51,035
TOTAL FUNDS 43,187 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 23 April 2025 and were signed on its behalf by:





A J M Maltby - Trustee

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 - Straight line over 4 years
Computer equipment - Straight line over 4 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.

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
4,575 5,858

4. INVESTMENT INCOME
2024 2023
£    £   
Deposit account interest 647 611

5. NET INCOME/(EXPENDITURE)

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

2024 2023
£    £   
Depreciation - owned assets 259 163
Computer software amortisation 94 -

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 375
AMORTISATION
Charge for year 94
NET BOOK VALUE
At 31 December 2024 281
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 330 2,172 2,502
Additions 171 - 171
At 31 December 2024 501 2,172 2,673
DEPRECIATION
At 1 January 2024 165 1,703 1,868
Charge for year 122 137 259
At 31 December 2024 287 1,840 2,127
NET BOOK VALUE
At 31 December 2024 214 332 546
At 31 December 2023 165 469 634

9. STOCKS
2024 2023
£    £   
Stock of books 284 284

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments and accrued income 307 275

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Accruals and deferred income 1,025 960

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 51,035 (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 6,066 (13,914 ) (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.