REGISTERED NUMBER: 07520640 (England and Wales)

LOWTHER GARDENS (LYTHAM) MANAGEMENT

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R T Withers

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

FIXED ASSETS

Tangible assets

4

257,680

287,258

CURRENT ASSETS

Stocks

14,901

13,824

Debtors

5

131,777

53,682

Cash at bank

823,172

560,740

969,850

628,246

CREDITORS

Amounts falling due within one year

6

851,550

800,154

NET CURRENT ASSETS/(LIABILITIES)

118,300

(171,908

)

TOTAL ASSETS LESS CURRENT LIABILITIES

375,980

115,350

CREDITORS

Amounts falling due after more than one year

7

(300,417

)

(10,220

)

PROVISIONS FOR LIABILITIES

(16,953

)

(21,077

)

NET ASSETS

58,610

84,053

RESERVES

Income and expenditure account

58,610

84,053

58,610

84,053

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2025 and were signed on its behalf by:

D F Rowe - Director

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

Fixtures and fittings

-

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.

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 25 (2024 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

200,849

243,104

2,000

13,367

459,320

Additions

-

-

-

1,583

1,583

At 31 March 2025

200,849

243,104

2,000

14,950

460,903

DEPRECIATION

At 1 April 2024

26,780

134,758

17

10,507

172,062

Charge for year

6,695

22,072

200

2,194

31,161

At 31 March 2025

33,475

156,830

217

12,701

203,223

NET BOOK VALUE

At 31 March 2025

167,374

86,274

1,783

2,249

257,680

At 31 March 2024

174,069

108,346

1,983

2,860

287,258

Included within Plant and Machinery are assets held under hire purchase agreements with a Net Book Value of £22,748 (2024: £27,748). Depreciation of £4,500 (2024: £4,500) was charged on these assets during the year.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

39,012

33,093

Other debtors

84,189

-

Tax

-

211

Prepayments

8,576

20,378

131,777

53,682

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Loan

35,000

5,000

Trade creditors

31,295

25,824

Social security and other taxes

5,305

4,909

VAT

56,479

37,637

Other creditors

14,243

260,681

Accruals and deferred income

709,228

466,103

851,550

800,154

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Loan

300,417

10,220

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

6,861

1,893

Between one and five years

20,535

2,997

27,396

4,890

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

335,417

-

FBC Loan

-

15,520

335,417

15,520

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 is due £84,189 from Lowther Gardens Lytham Trust (2024: owed to Trust £245,203) arising from transfers between the two entities. During the year, purchases from Lowther Gardens Lytham Trust totalled £24,000 (2024: £24,000) for rental charges.

Timothy Lince is the current CEO of Lowther Gardens Lytham Trust and is a former trustee, he also trades under the name of Pendle Productions. During the year end purchases from Pendle Productions totalled £58,516 (2024: £54,237).

Fylde Borough Council is a trustee of Lowther Gardens Lytham Trust. During the year end purchases from Fylde Borough Council totalled £52,429 (2024: £43,747) and sales to Fylde Borough Council totalled £89,298 (2024: £7,547)

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.