IRIS Accounts Production v25.4.0.155 Other Company accounts True false Pounds 1.4.24 31.3.25 31.3.25 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 07751944 2024-03-31 07751944 2025-03-31 07751944 2024-04-01 2025-03-31 07751944 2023-03-31 07751944 2023-04-01 2024-03-31 07751944 2024-03-31 07751944 ns0:CharitableCompanyLimitedByGuarantee 2024-04-01 2025-03-31 07751944 ns15:PoundSterling 2024-04-01 2025-03-31 07751944 ns11:FRS102 2024-04-01 2025-03-31 07751944 ns0:IndependentExaminationCharity 2024-04-01 2025-03-31 07751944 ns11:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 07751944 ns11:FullAccounts 2024-04-01 2025-03-31 07751944 ns0:CharitiesSORP 2024-04-01 2025-03-31 07751944 ns16:EnglandWales 2024-04-01 2025-03-31 07751944 ns11:RegisteredOffice 2024-04-01 2025-03-31 07751944 ns0:Trustee2 2024-04-01 2025-03-31 07751944 ns0:Trustee3 2024-04-01 2025-03-31 07751944 ns0:Trustee4 2024-04-01 2025-03-31 07751944 ns0:Trustee1 2024-04-01 2025-03-31 07751944 ns0:Trustee5 2024-04-01 2025-03-31 07751944 ns0:Trustee6 2024-04-01 2025-03-31 07751944 ns0:Trustee7 2024-04-01 2025-03-31 07751944 ns0:Trustee8 2024-04-01 2025-03-31 07751944 ns0:Trustee9 2024-04-01 2025-03-31 07751944 ns0:Trustee10 2024-04-01 2025-03-31 07751944 ns0:Trustee11 2024-04-01 2025-03-31 07751944 ns0:Trustee12 2024-04-01 2025-03-31 07751944 ns0:Trustee13 2024-04-01 2025-03-31 07751944 ns0:Trustee14 2024-04-01 2025-03-31 07751944 ns0:Trustee15 2024-04-01 2025-03-31 07751944 ns0:Trustee16 2024-04-01 2025-03-31 07751944 ns0:Trustee17 2024-04-01 2025-03-31 07751944 ns0:TotalUnrestrictedFunds 2024-04-01 2025-03-31 07751944 ns0:TotalRestrictedIncomeFunds 2024-04-01 2025-03-31 07751944 ns0:Activity10 2024-04-01 2025-03-31 07751944 ns0:Activity10 ns0:TotalUnrestrictedFunds 2024-04-01 2025-03-31 07751944 ns0:Activity10 ns0:TotalRestrictedIncomeFunds 2024-04-01 2025-03-31 07751944 ns0:Activity10 2023-04-01 2024-03-31 07751944 ns0:TotalUnrestrictedFunds 2024-03-31 07751944 ns0:TotalRestrictedIncomeFunds 2024-03-31 07751944 ns0:TotalUnrestrictedFunds 2025-03-31 07751944 ns0:TotalRestrictedIncomeFunds 2025-03-31 07751944 ns0:TotalUnrestrictedFunds ns10:WithinOneYear 2025-03-31 07751944 ns0:TotalRestrictedIncomeFunds ns10:WithinOneYear 2025-03-31 07751944 ns10:WithinOneYear 2025-03-31 07751944 ns10:WithinOneYear 2024-03-31 07751944 2 2024-04-01 2025-03-31 07751944 3 2024-04-01 2025-03-31 07751944 1 2024-04-01 2025-03-31 07751944 1 2023-04-01 2024-03-31

REGISTERED COMPANY NUMBER: 07751944 (England and Wales)

REGISTERED CHARITY NUMBER: 1147823

| Report of the Trustees and |

| Unaudited Financial Statements |

| for the Year Ended 31 March 2025 |

| for |

| Historic Lincoln Trust Limited |

| Historic Lincoln Trust Limited |

Contents of the Financial Statements

for the Year Ended 31 March 2025

| Page |

| Report of the Trustees | 1 |  | to |  | 2

| Independent Examiner's Report | 3 |

| Statement of Financial Activities | 4 |

| Balance Sheet | 5 |

| Notes to the Financial Statements | 6 |  | to |  | 9

| Historic Lincoln Trust Limited (Registered number: 07751944) |

Report of the Trustees

for the Year Ended 31 March 2025

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 March 2025. 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 charitable company are:

- |  | to promote for the benefit of the public, the conservation, protection and improvement of the physical and historic environment of Historic Lincoln |

- |  | to advance the education of the public in the physical environment and artefacts of Historic Lincoln |

Public benefit

In considering the activities of the charity, the trustees have had due regard to the Charity Commission guidance on public benefit.

Grantmaking

Any support given by the Historic Lincoln Trust will be for the projects and organisations which aligns with and meets the objects of the Trust. Grant making may be pro-active, by which the trustees identify projects or organisations the Trust wishes to support. Such offers shall be made as and when the trustees find suitable projects.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The activities of the Trust during the year 2024-2025 covered two areas.

The Churchill Exhibition, based on the extensive Bourn Collection, was proposed originally by Lord Cormack to coincide with the twin anniversaries of Churchill's birth in 1874 and his death in 1965. The Exhibition, staged at Harlaxton College, opened on 22 October with an Anniversary Dinner, attended by 120 people, with Nicholas Soames, Churchill's grandson, as the speaker. On the following day there was a well-attended Symposium on the Special Relationship, Past and Present. It was agreed to hold discussions with Harlaxton about the possibility of similar events in the future. In February 2025 the Churchill exhibition moved to Doddington, where it remained open until the end of March.

The Trust also continued to support and promote the conservation, enhancement and understanding of the historic environment in Lincoln and the surrounding area, co-operating with Lincolnshire County Council, the City of Lincoln Council, and other heritage organisations including Lincoln Cathedral, the International Bomber Command Centre, Doddington Hall and Heritage Lincolnshire.

FINANCIAL REVIEW

Financial position

The charity made a loss in the year of £1,291, compared to last year where a surplus of £6,320 was made.

The total expenditure on charitable activities was £9,666 (2024: £8,680) of which £2,110 (2024: £1,290) were direct charitable costs, £5,182 (2024: £5,266) were costs relating to the management of the charity and £2,374 (2024: £2,124) related to the governance of the charity.

The funds of the charity at the year end were £22,163 (2024: £23,454). All funds for the current year and prior period were unrestricted.

Reserves policy

At the year end the charity had unrestricted reserves of £22,163. The trustees have a policy of maintaining 12 months of expenditure in reserves which equates to £9,666.

Going concern

The trustees have considered the level of funds held and the expected level of income and expenditure for the twelve months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to continue as a going concern. An income stream has been established for the next three years.

FUTURE PLANS

The Trust continues to work with Lincolnshire County Council, the City of Lincoln Council and the Usher Gallery Trust in finding ways to safeguard the important collections in the Usher Gallery.

| Historic Lincoln Trust Limited (Registered number: 07751944) |

Report of the Trustees

for the Year Ended 31 March 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The charity appoints its trustees per its governing document, its Memorandum and Articles of Association.

Trustees are recruited based on the necessary skill sets they will bring to the board. Where there are gaps in skills, current trustees will approach suitable candidates or where a candidate comes to the trust, they will be assessed based on the skills and experience that they can bring to the charity.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07751944 (England and Wales)

Registered Charity number

1147823

Registered office

15 Newland

Lincoln

Lincolnshire

LN1 1XG

Trustees

AVM P A Robinson

S N Walters

G W Lockwood

D C Chambers

R M Battle

J J C Birch

R A Dale

R W Day

Baroness S E M Hogg

N P Juster

C H Kenyon

J R H Ruddock

E A Strange

L J Wilkinson

J M Worth (resigned 11.2.25)

Very Revd S M Jones (appointed 30.7.25)

P H M Dymoke (appointed 30.7.25)

Independent Examiner

Paul Colcomb FCCA

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

Approved by order of the board of trustees on 18 November 2025 and signed on its behalf by:

D C Chambers - Trustee

Independent Examiner's Report to the Trustees of

Historic Lincoln Trust Limited

Independent examiner's report to the trustees of Historic Lincoln Trust Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

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.

Paul Colcomb FCCA

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

18 November 2025

| Historic Lincoln Trust Limited |

Statement of Financial Activities

for the Year Ended 31 March 2025

| 2025 |  | 2024

| Unrestricted |  | Restricted |  | Total |  | Total

| fund |  | funds |  | funds |  | funds

| Notes | £ | £ | £ | £ |

INCOME AND ENDOWMENTS FROM

Donations and legacies | 2 | 8,375 |  | - |  | 8,375 |  | 15,000 |

EXPENDITURE ON

Charitable activities | 3

Conservation and Education | 9,666 |  | - |  | 9,666 |  | 8,680 |

NET INCOME/(EXPENDITURE) | (1,291 | ) | - |  | (1,291 | ) | 6,320 |

RECONCILIATION OF FUNDS

Total funds brought forward | 23,454 |  | - |  | 23,454 |  | 17,134 |

TOTAL FUNDS CARRIED FORWARD | 22,163 |  | - |  | 22,163 |  | 23,454 |

| Historic Lincoln Trust Limited (Registered number: 07751944) |

Balance Sheet

31 March 2025

| 2025 |  | 2024

| Unrestricted |  | Restricted |  | Total |  | Total

| fund |  | funds |  | funds |  | funds

| Notes | £ | £ | £ | £ |

CURRENT ASSETS |

Cash at bank | 23,957 |  | - |  | 23,957 |  | 25,158 |

CREDITORS |

Amounts falling due within one year | 7 | (1,794 | ) | - |  | (1,794 | ) | (1,704 | )

NET CURRENT ASSETS | 22,163 |  | - |  | 22,163 |  | 23,454 |

TOTAL ASSETS LESS CURRENT LIABILITIES | 22,163 |  | - |  | 22,163 |  | 23,454 |

NET ASSETS | 22,163 |  | - |  | 22,163 |  | 23,454 |

FUNDS | 8

Unrestricted funds | 22,163 |  | 23,454 |

TOTAL FUNDS | 22,163 |  | 23,454 |

The charitable 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 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.

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 18 November 2025 and were signed on its behalf by:

D C Chambers - Trustee

| Historic Lincoln Trust Limited |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | 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.

| The charity is a limited company, limited by guarantee and incorporated in England. The registered office is noted in the reference and administration section of the trustees report.

| 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.

| 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.

| Financial instruments

| The Charity only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Financial Activities.

| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Charity would receive for the asset if it were to be sold at the balance sheet date.

2. | DONATIONS AND LEGACIES

| 2025 |  | 2024

£ | £ |

| Donations | 375 |  | - |  |

| Grants | 8,000 |  | 15,000 |  |

8,375 |  | 15,000 |  |

| Historic Lincoln Trust Limited |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | DONATIONS AND LEGACIES - continued

| Grants received, included in the above, are as follows:

| 2025 |  | 2024

£ | £ |

| Lincolnshire County Council | 7,500 |  | 15,000 |  |

| Charities Aid Foundation American Doner Fund | 500 |  | - |  |

8,000 |  | 15,000 |  |

| Amounts received from government grants totalled £7,500 (2024: £15,000) in the period.

3. | CHARITABLE ACTIVITIES COSTS

| Support |

| Direct | costs (see |

| Costs | note 4) | Totals

£ | £ | £ |

| Conservation and Education | 2,110 |  | 7,556 |  | 9,666 |  |

4. | SUPPORT COSTS

| Governance |

| Management |  | costs |  | Totals

£ | £ | £ |

| Conservation and Education | 5,182 |  | 2,374 |  | 7,556 |  |

5. | TRUSTEES' REMUNERATION AND BENEFITS

| There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

| Trustees' expenses

| There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

6. | STAFF COSTS

| The average monthly number of employees during the year was as follows:

| 2025 |  | 2024

| Administrative | 1 |  | 1 |  |

| No employees received emoluments in excess of £60,000.

| Historic Lincoln Trust Limited |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025 | 2024 |

£ | £ |

| Accrued expenses | 1,794 |  | 1,704 |  |

8. | MOVEMENT IN FUNDS

| Net |  |

| movement |  | At |

| At 1.4.24 |  | in funds |  | 31.3.25 |

£ | £ | £ |

| Unrestricted funds

| General fund | 23,454 |  | (1,291 | ) | 22,163 |  |

| TOTAL FUNDS | 23,454 |  | (1,291 | ) | 22,163 |  |

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

| Incoming |  | Resources |  | Movement |

| resources |  | expended |  | in funds |

£ | £ | £ |

| Unrestricted funds

| General fund | 8,375 |  | (9,666 | ) | (1,291 | ) |

| TOTAL FUNDS | 8,375 |  | (9,666 | ) | (1,291 | ) |

| Comparatives for movement in funds

| Net |  |

| movement |  | At |

| At 1.4.23 |  | in funds |  | 31.3.24 |

£ | £ | £ |

| Unrestricted funds

| General fund | 17,134 |  | 6,320 |  | 23,454 |  |

| TOTAL FUNDS | 17,134 |  | 6,320 |  | 23,454 |  |

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

| Incoming |  | Resources |  | Movement |

| resources |  | expended |  | in funds |

£ | £ | £ |

| Unrestricted funds

| General fund | 15,000 |  | (8,680 | ) | 6,320 |  |

| TOTAL FUNDS | 15,000 |  | (8,680 | ) | 6,320 |  |

| Historic Lincoln Trust Limited |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

9. | RELATED PARTY DISCLOSURES

| During the year, the charitable company received donations of £100 (2024: £Nil) from a company in which a trustee is a director. The charitable company also received donations totalling £275 (2024: £Nil) from three trustees (2024: Nil).