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2024-12-31-accounts

Company Registration No. 2523744 (England and Wales)

Lytham Town Trust Limited

Report and Accounts

For the Year Ended 31 December 2024

LYTHAM TOWN TRUST LIMITED

CONTENTS

YEAR ENDED 31 DECEMBER 2024

Page
Company information 1
Report of the trustees 2
Report of the independent examiner 6
Statement of financial activities 8
Balance sheet 9
Accounting policies 10
Notes to the accounts 13

LYTHAM TOWN TRUST LIMITED

COMPANY INFORMATION

Elected directors

D K Gill Chairman # S C Kitt Secretary # D F Clarke Deputy Chairman # Mrs A Evans # Dr A J P Gilchrist (resigned 30 October 2024) W R T Hale # R A C Smith # A M Wolfe # Nominated directors Mrs S M Cornah # Lytham St Annes Civic Society J D Hornyak Friends of Lytham Hall (resigned 26 September 2024) Mrs S Jones Friends of Lytham Hall (appointed 26 Sepetmber 2024) A Lavin BAE Systems (retired 17 April 2024) J R Thomas Fylde Council (retired 4 May 2023) S M Williams Lytham Heritage Group (resigned 15 January 2025) M Bell Lytham Heritage Group (appointed 8 April 2025) M Withers Fylde Council (appointed 17 July 2023) Honorary Life Vice-Presidents D B S Coupe Secretary S C Kitt Registered office Assembly Rooms Dicconson Terrace Lytham FY8 5JY Company number 2523744 Registered charity number 1000098 Independent Examiner PM+M Solutions for Business LLP New Century House Greenbank Technology Park Challenge Way Blackburn Lancashiire BB1 5QB

- Members of the executive committee

Page 1

LYTHAM TOWN TRUST LIMITED

(A Registered Charity and a Company Limited by Guarantee)

REPORT OF THE TRUSTEES

YEAR ENDED 31 DECEMBER 2024

The Trustees, who are also directors of the charity for the purposes of the Companies Act, present their report and the audited financial statements of the charity for the year ended 31 December 2024. The trustees have

The financial statements have been prepared in accordance with the accounting policies set out in the notes to 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 effective from January 2019.

Structure, governance and management

Governing document

The Trust is a company limited by guarantee and also a registered charity. The organisation was established under a Memorandum of Association on 19 July 1990 which established the objects and powers of the charitable company, and it is governed under its Articles of Association.

Appointment of trustees

The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association, the board of directors shall consist of:

Nominated members of:
 Number of nominees
Fylde Council 1
Lytham St Annes Civic Society 1
Lytham Heritage Group 1
BAE Systems 1
Friends of Lytham Hall 1

Co-opted members

Any said person having direct connections with the primary objects of the company co-opted by the Board at its discretion Elected members

Trustees induction and training

An induction programme is provided for all new trustees which includes information about finances and governance. All Trustees receive copies of the Charity Commission bulletins and other publications, where relevant.

Related parties

Any transaction entered into

Risk management

The trustees continually examine the major strategic business and operational risks which the charity faces and systems have been established to lessen these risks.

Page 2

LYTHAM TOWN TRUST LIMITED

(A Registered Charity and a Company Limited by Guarantee)

REPORT OF THE TRUSTEES (CONTINUED)

YEAR ENDED 31 DECEMBER 2024

Organisation

The business of the charity is managed by the Board which meets quarterly. Day to day operational matters are delegated to an Executive Committee comprising of at least six members of the Board. Other sub committees deal with property matters and the management of the Assembly Rooms and also report to the Board. An Executive Committee comprising of two members from Lytham Town Trust and two members from the Heritage Trust for the North West oversee the management of Lytham Hall.

Objectives

and architectural interest and to provide community centres and other amenities for the inhabitants of the community residing in Lytham.

Review of activities Achievements and performance

Activities

There have been no significant changes in the activities of the Trust in the year.

Financial review

The net surplus on incoming resources before revaluations and gains/losses on investments was £220,669 (2023: £62,192).

The directors have adopted a reserves policy whereby the unrestricted funds not set aside for or invested in tangible fixed assets, is between 12 and 24 months of the average resources expended over the previous three years, excluding exceptional items.

The reserves at 31 December 2024 calculated on this basis equate to 36 months (2023: 30 months).

The funds held at the end of the year were:

Unrestricted Fund
General
Unrestricted Fund
Designated
Restricted Fund
Endowment Fund
Restricted Fund
Lytham Hall
Total Funds at 31 December		 2024
£
1,232,147
535,000
865,300
950,598
3,583,045		 2023
£
1,072,060
395,000
805,952
955,113
3,228,125

Objectives and activities

The Trust owns Lytham Hall which is managed by The Heritage Trust for the North West under a 99 year lease.

The Assembly Rooms are let to the Trust by Fylde Borough Council under a 125 year lease at a nominal rent which runs from 1991. Part of the building is let on commercial tenancies and the remainder houses a public library and a community centre.

Page 3

LYTHAM TOWN TRUST LIMITED

(A Registered Charity and a Company Limited by Guarantee)

REPORT OF THE TRUSTEES (CONTINUED)

YEAR ENDED 31 DECEMBER 2024

Objectives and activities (continued)

In shaping the Trust's objectives for the year and planning our activities, the directors have considered the Charity Commission's guidance on public benefit, including the guidance on fee charging. The Trust relies on room hire and rental income to cover its operating costs. In setting the level of hire charges, the directors have sought to ensure that the Assembly Rooms are accessible to charitable and community organisations by charging fees that are below commercial rates.

Assembly Rooms

The Assembly Rooms continue to be a well-used and loved community asset embracing high quality tenants such as the Lytham Library Service along with many community organisations using the Ribble Room for daily use.

Repair work to the flat roof and re-rendering the wall in the car park has been completed in the year.

The Trust is proud of its work here, in offering community-based activities and services allowing it to clearly achieve one of its core charitable objectives.

Lytham Hall

The Lytham Hall Executive Committee, the membership and scope of which is set out in the lease of Lytham Hall, now meets twice a year.

The Trustees have agreed a protocol for the granting of land

these are required under the terms of the lease. During the year consents have been granted for:

into self-catering accommodation.

Lytham Institute

Following publication of the Cy Pres Scheme by the Charity Commission Fylde Council has appointed an independent board of trustees and commissioned a report by Capita to:

Page 4

LYTHAM TOWN TRUST LIMITED

(A Registered Charity and a Company Limited by Guarantee)

REPORT OF THE TRUSTEES (CONTINUED)

YEAR ENDED 31 DECEMBER 2024

Future developments

Assembly Rooms the refurbishment work will continue with the re-rendering of the rear wall of the building, resurfacing and marking out of the car park, installation of lighting and remediation of the steelwork in the basement.

Lytham Hall The trustees of the Lytham Hall Endowment Fund have committed accumulated income of £41,058

Lytham Institute Lytham Town Trust will continue to work with the Lytham St Annes Civic Society, Lytham Heritage Group, Lytham Voice and the Friends of the Lytham Institute to ensure that the Lytham Institute has a sustainable future as a community asset.

Directors' responsibilities for the accounts

The trustees (who are also directors of Lytham Town Trust Limited for the purposes of company law) are responsible Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 5

LYTHAM TOWN TRUST LIMITED

(A Registered Charity and a Company Limited by Guarantee)

REPORT OF THE TRUSTEES (CONTINUED)

YEAR ENDED 31 DECEMBER 2024

Auditors

As reported last year, Ashworth Treasure indicated that they did not wish to be reappointed because of their lack of charity expertise. the trustees decided that it would be more cost effective to have an Independent Examination instead and the Memorandum and Articles of Association were amended accordingly.

Following a competitive selection process

S C Kitt

Secretary 16 July 2025

Page 6

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE LYTHAM TOWN TRUST LIMITED

YEAR ENDED 31 DECEMBER 2024

I report to the trustees on my examination of the financial statements of Lytham Town Trust Limited (the charity) for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Whilst the charity has breached the charity audit threshold in the year we have confirmed that the charity has been granted a dispensation under regulation 34(3)(b) of the Charities (Accounts and Reports) Regulations 2008. This dispensation was granted on 6 November 2025. Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Association of Chartered Certified Accountants, which is one of the listed bodies. An independent examination has taken place instead of an audit (Regulation 31(f)) in accordance with a dispensation granted by the Charity Commission on 6 November 2025.

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 that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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 financial statements 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 financial statements to be reached.

Dean Rodgers ACA PM+M Solutions for Business LLP Chartered Accountants New Century House Greenbank Technology Park Challenge Way Blackburn Lancashire BB1 5QB 07/11/2025 Dated: .........................

Page 7

LYTHAM TOWN TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 DECEMBER 2024

Note
Incoming resources
Donations
3
Investments
4
Charitable activities
5
Total incoming
resources
Resources
expended
Raising funds
6
Charitable activities
7
Total resources
expended
Net incoming/(outgoing)
resources before
revaluations, investment
disposals and transfers
Realised gains/(losses)
Unrealised gains/(losses)
10b
Net
income/(expenditure)
Transfers between
funds
15
Net movement in
funds
Total funds brought
forward
Total funds carried
forward		 Unrestricted
Funds
General
Designated
£
£
-
-
268,787
-
39,691
-
308,478
-
8,404
-
96,188
-
104,592
-
203,886
-
-
98,000
-
-
301,886
-
(141,799)
140,000
160,087
140,000
1,072,060
395,000
1,232,147
535,000		 Restricted
Restricted
Fund
Endowment
Lytham
Fund
Hall
£
£
-
-
30,504
-
-
524
30,504
524
1,641
-
5766
6,838
7,407
6,838
23,097
(6,314)
4,374
31,877
-
-
59,348
(6,314)
-
1,799
59,348
(4,515)
805,952
955,113
865,300
950,598		 2024
£
-
299,291
40,215
339,506
10,045
108,792
118,837
220,669
4,374
129,877		 2023
£
-
138,821
108,348
247,169
17,207
167,770
184,977
62,192
744
35,567
98,503
-
354,920
-
354,920
3,228,125
3,583,045
98,503
3,129,622
3,228,125

All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above.

The notes on pages 13 to 20 form part of these accounts.

Page 8

LYTHAM TOWN TRUST LIMITED

BALANCE SHEET

YEAR ENDED 31 DECEMBER 2024

Note 2024 2023
£ £ £ £
Fixed assets
Tangible fixed assets 10a 1,841,101 1,739,898
Investments 10b 824,166 805,952
2,665,267 2,545,850
Current assets
Debtors and prepayments Debtors and prepayments 11 39,845 48,642
Cash at bank 916,241 650,181
956,086 698,643
Creditors Amounts falling due
within one year
Accruals and other creditors 12 38,308 16,368
38,308 16,368
Net current assets Net current assets 917,778 682,275
Total assets less liabilities 3,583,045 3,228,125
Funds
Unrestricted
General 618,761 556,674
Revaluation reserve Revaluation reserve 613,386 515,386
13 1,232,147 1,072,060
Designated reserves 13 535,000 395,000
1,767,147 1,467,060
Restricted
Endowment Fund Endowment Fund 14 865,300 805,952
Lytham Hall 14 950,598 955,113
3,583,045 3,228,125

The notes on pages 13 to 20 form part of these accounts.

These accounts were approved by the Directors on 16 July 2025 and signed on their behalf by

.................................................. D K Gill Chairman

Company Registration No. 2523744

Page 9

LYTHAM TOWN TRUST LIMITED

ACCOUNTING POLICIES

YEAR ENDED 31 DECEMBER 2024

Accounting policies

Basis of accounting

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) effective from January 2019, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The financial statements are prepared in sterling which is the functional currency of the charity.

Incoming resources

All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

For legacies, entitlement is taken as the earlier of the date on which either the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of legacies have been notified to the charity or the charity is aware of the granting of probate and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. The legacies are credited to the general fund unless the legator indicates a specific bequest.

Capital grants and donations are included in income in the period in which the expenditure they are intended to fund is incurred

Resources expended

Expenditure is recognised when a liability is incurred. Contractual arrangements are recognised as goods or services are supplied. Other payments are recognised when a constructive obligation arises that results in the payment being unavoidable.

Expenditure on raising funds comprises investment management costs. Charitable activities expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. Governance costs are those incurred in the operation of procedures and associated with the decisions making, performance and control of the organisation, with providing structures to give it overall direction to the organisation and to satisfy the expectations of accountability to those outside it. Also included are costs with meeting the constitutional and statutory requirements and inspection. Support costs are those costs which enable fund generating and charitable activities to be undertaken.

Page 10

LYTHAM TOWN TRUST LIMITED

ACCOUNTING POLICIES (CONTINUED)

YEAR ENDED 31 DECEMBER 2024

Fixed assets

Tangible

The cost of fixed assets is depreciated on a straight line basis at the following rates:-

Freehold buildings ½% per annum Fixtures and equipment 10% per annum Improvements to long leasehold property 5% per annum

Lytham Hall is a Grade 1 listed building and is being maintained in a good state of repair. Clifton Portfolio controls several properties which are let and also maintained in a good state of repair. The directors consider the depreciation rate to be appropriate.

Investments

Investments are initially recognised at their transaction value and subsequently measured at their market value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Investment properties

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at Statement of Financial Activities. The directors are satisfied that the value of the properties is not materially different to the current open market value. Depreciation is not provided in respect of freehold investment properties.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Concessionary loans

Concessionary loans include those receivable and payable to third parties which are interest free or below market interest rates and are made to advance charitable purposes. All loans are repayable on demand within one year, the loan is measured at cost, less impairment. Where the loan is repayable more than one year, the loan is initially measured at fair value and subsequently measured at amortised cost using the effective interest rate method, less impairment.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Page 11

LYTHAM TOWN TRUST LIMITED

ACCOUNTING POLICIES (CONTINUED)

YEAR ENDED 31 DECEMBER 2024

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. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.

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 restricted purposes.

The cost of raising and administering such funds are charged against the specific fund.

Designated funds

Assembly Rooms Repairs

Amounts are appropriated from the Accumulated Fund at the discretion of the Board to meet the longer term maintenance of the Assembly Rooms. The annual transfer is made in accordance with the maintenance plan.

Heritage Property

This has been set aside to help preserve buildings of architectural and historical interest in Lytham.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Cash flow statement

The Company has not prepared a cash flow statement as part of the financial statements, having taken advantage of the exemptions from preparing such a statement on the grounds that it qualifies as a small company.

Significant estimates and judgements

, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The trustees do not believe that there are any estimates or assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

Page 12

LYTHAM TOWN TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

The financial statements have been prepared in accordance with the accounting policies set out on pages 12 to 14.

2 Taxation

The company is a registered charity and exempt from corporation tax.

3 Income from donations

Donations
Total for 2023		 Unrestricted
Fund
General
£
-
-		 Designated
Fund
£
-
-		 Restricted
Endowment
Fund
£
-
-		 Restricted
Funds
Lytham
Hall
£
-
-		 2024
2023
£
£
-
-
-

4 Income from investments

Rents received
Bank interest
Dividends
Survey fees
Surplus on
sale of land
Total for 2024
Total for 2023		 Unrestricted
Fund
General
£
94,922
32,933
-
1,225
139,707
268,787
114,102		 Designated
Fund
£
-
-
-
-
-
-		 Restricted
Endowment
Fund
£
-
6,976
23,528
-
30,504
24,719		 Restricted
Funds
Lytham
Hall
£
-
-
-
-
-
-		 2024
£
94,922
39,909
23,528
1,225
139,707
299,291		 2023
£
90,553
29,741
18,527
-
138,821
138,821

Page 13

LYTHAM TOWN TRUST LIMITED

NOTES TO THE ACCOUNTS (CONTINUED)

YEAR ENDED 31 DECEMBER 2024

5 Income from charitable activities

Room hire
Recharged
Insurance
Service charges
Car park fees
Grant written off
Donations
Rental income
Total for 2024
Total for 2023		 Unrestricted
Fund
General
£
15,761
2,409
14,157
7,364
-
-
-
39,691
33,347		 Designated
Fund
£
-
-
-
-
-
-
-
-
-		 Restricted
Endowment
Fund
£
-
-
-
-
-
-
-
-
-		 Restricted
Funds
Lytham
Hall
£
-
-
-
-
-
523
1
524
75,001		 2024
£
15,761
2,409
14,157
7,364
-
523
1
40,215		 2023
£
11,639
2,332
12,826
6,550
75,000
-
1
108,348
108,348

6 Expenditure on raising funds

Investment
management
costs
Total for 2024
Total for 2023		 Unrestricted
Fund
General
£
8,404
8,404
15,887		 Designated
Fund
£
-
-
-		 Restricted
Endowment
Fund
£
1,641
1,641
1,320		 Restricted
Funds
Lytham
Hall
£
-
-
-		 2024
£
10,045
10,045		 2023
£
17,207
17,207
17,207

Page 14

LYTHAM TOWN TRUST LIMITED

NOTES TO THE ACCOUNTS (CONTINUED)

YEAR ENDED 31 DECEMBER 2024

7 Analysis of expenditure on charitable activities

Wages and National Insurance
Gardening
Cleaning
Repairs and renewals
Telephone
Heat, light and water
Insurance
Independent examination and audit fee
Accountancy
Professional fees
Loan written off
Contribution to drainage project
Sundries
Depreciation:
Buildings
Fixtures and fittings
Unrest-
ricted
Fund
Designated
General
Fund
£
£
Management of
Assembly
Rooms
94,064
-
Lytham Hall
-
-
Governance
costs (note 8)
2,124
-
Total for 2024
96,188
-
Total for 2023
46,721
-		 Assembly
Rooms
£
6,000
(3,500)
6,439
41,529
945
14,079
6,036
2,124
5,400
6,298
-
-
5,770
-
5,068
96,188
Restricted
Endowment
Fund
£
-
5,766
-
5,766
-		 Lytham
Hall
£
-
-
-
-
-
-
-
-
-
1,800
-
-
-
5,038
-
6,838
Restricted
Funds
Lytham
Hall
£
-
6,838
-
6,838
81,049		 2024
£
6,000
(3,500)
6,439
41,529
945
14,079
6,036
2,124
5,400
8,098
-
-
5,770
5,038
5,068
103,026
2024
£
94,064
12,604
2,124
108,792		 2023
£
5,400
1,709
5,694
4,112
937
13,227
5,638
2,500
4,800
1,794
75,000
40,000
276
5,038
1,645
167,770
2023
£
44,221
121,049
2,500
167,770
167,770

Page 15

LYTHAM TOWN TRUST LIMITED

NOTES TO THE ACCOUNTS (CONTINUED)

YEAR ENDED 31 DECEMBER 2024

8 Governance costs

Governance costs
2024 2023
£ £
Independent
Examination/Audit fee 2,500 2,500

9 Trustees remuneration

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023: £Nil) neither were they reimbursed expenses during the year (2023: £Nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £Nil).

10 (a) Tangible fixed assets

Cost or valuation
At 1 January 2024
Disposal
Revaluations
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Depreciation on disposals
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Freehold
Land and
buildings
£
1,007,660
-
-
11,360
1,019,020
120,912
-
5,038
125,950
893,070
886,748		 Investment
properties
£
842,000
-
98,000
-
940,000
-
-
-
-
940,000
842,000		 Fixtures and
Equipment
£
49,855
-
-
1,949
51,804
38,705
-
5,068
43,773
8,031
11,150		 Improvement
to property
£
-
22,291
-
-
-
22,291
22,291
-
-
22,291
-
-		 Total
£
1,921,806
-
98,000
13,309
2,033,115
181,908
-
10,106
192,014
1,841,101
1,739,898

No value has been attributed to the Trust's 125 year lease of the Assembly Rooms.

The investment properties were re-valued by R D Pinkus & Co, Chartered Surveyors, on 13 May 2025.

Page 16

LYTHAM TOWN TRUST LIMITED

NOTES TO THE ACCOUNTS (CONTINUED)

YEAR ENDED 31 DECEMBER 2024

10(b)
Investments
Market value at 1 January 2024
Additions to investments at cost
Disposals at carrying value
Net investment gains
Market value at 31 December 2024
£29,749 investments at cost were sold
during the year (2023: £29,749).
Investments comprise:
Unitised and common investment funds
Cash and cash equivalents		 2024
Market
value
£
664,984
159,182
824,166		 2024
Cost
£
598,674
159,182
757,856		 2024
£
629,876
48,825
(45,594)
31,877		 2023
£
473,958
151,420
(30,493)
34,991
664,984
2023
Market
value
£
629,876
176,076
805,952		 629,876
2023
Cost
£
595,411
176,076
771,487

11 Debtors and prepayments

Rent receivable
Prepayments
Other debtors		 2024
£
-
1,671
38,174
39,845		 2023
£
2,538
1,604
44,320
48,462

Page 17

LYTHAM TOWN TRUST LIMITED

NOTES TO THE ACCOUNTS (CONTINUED)

YEAR ENDED 31 DECEMBER 2024

12 Creditors: Due within less than one year

Rent receivable in advance
Accruals
13
Unrestricted funds
General unrestricted funds
Designated funds
Assembly Rooms
Heritage Property
Total designated funds
Total funds		 Brought
forward at
1 Jan
2024
£
1,072,060
20,000
375,000
395,000
1,467,060		 Income
£
308.478
-
-
-
308,478		 Expenditure
£
(104,592)
-
-
-
(104,592)		 2024
£
12,350
25,958
38,308
Gains and
Transfers
£
(43,799)
15,000
125,000
140,000
96,201		 2023
£
3,950
12,418
16,368
Carried
forward at
31 Dec
2024
£
1,232,147
35,000
500,000
535,000
1,767,147

The general fund represents the free funds of the trust which are not designated for a particular purpose.

2024
Total funds
£
Represented by:
Tangible fixed assets at cost less depreciation
334,645
Revaluation of tangible fixed assets
515,386
Net current assets less current liabilities
917,116
1,767,147		 2023
Total funds
£
337,764
515,386
613,910
1,467,060

Page 18

LYTHAM TOWN TRUST LIMITED

NOTES TO THE ACCOUNTS (CONTINUED)

YEAR ENDED 31 DECEMBER 2024

13 Unrestricted funds (continued)

Designated funds

Assembly Rooms repairs

Amounts are appropriated from the Accumulated Fund at the discretion of the Board to meet the longer term maintenance of the Assembly Rooms in accordance with the maintenance plan.

Heritage Property

This has been set aside from a property sale to provide funding to help preserve buildings of architectural and historical interest in Lytham.

1 January
31 December
Represented by
Cash deposits
Restricted funds
Endowment
Lytham Hall		 Brought
forward at
1 Jan
2024
£
805,952
955,113
1,761,065		 2024
2024
Assembly
Heritage
Rooms
Property
£
£
20,000
375,000
35,000
500,000
Income
Expenditure
£
£
30,504
(7,407)
524
(6,838)
31,028
(14,245)		 2023
Total
£
395,000
535,000
2024
£
535,000
535,000
Gains/
transfers
£
36,251
1,799
38,050		 2023
Total
£
390,000
395,000
Income
£
30,504
524
31,028		 2023
£
395,000
395,000
Carried
forward at
31 Dec
2024
£
865,300
950,598
1,815,898

14 Restricted funds

Endowment Fund

Represented by
Investments
Net current assets/(liabilities)
Cash deposits		 2024
£
664,984
-
200,316
865,300		 2023
£
629,876
-
176,076
805,952

Page 19

LYTHAM TOWN TRUST LIMITED

NOTES TO THE ACCOUNTS (CONTINUED)

YEAR ENDED 31 DECEMBER 2024

14 Restricted funds (continued)

Lytham Hall Fund

ytham Hall Fund
Represented by
Tangible fixed assets
Current assets less current liabilities		 2024
£
893,668
56,930
950,598		 2023
£
886,748
68,365
955.113

The Endowment Fund is a permanent endowment for the benefit of Lytham Hall the income from which is applied towards projects at Lytham Hall. Access to the capital becomes available in the event of the lease of Lytham Hall to Heritage Trust for the North West Ltd being terminated or after the expiry of eighty years from 1 January 2005.

The Lytham Hall fund represents the donations originally received to enable the purchase of Lytham Hall less depreciation charged since acquisition and includes an unspent legacy of £5,000 (2023: £5,000)

15 Capital commitments

The Company had no contracted capital commitments at 31 December 2024 (2023: None).

16 Directors and employees

2024
£
The Trust had 1 part time equivalent employee during the year (2023: 1 part time)
Salary
5,400
Social Security costs
600
6,000		 2023
£
5,400
600
6,000

There are no employees who received total employee benefits of more than £60,000 (2023: none).

17 Related party transactions

Rent of £1 is payable by The Heritage Trust for the North West for Lytham Hall and Lytham Town Trust made no donations to Heritage Trust for the North West in the year (2023: £40,000).

for website design and development.

18 Control relationships

The company is under the control of the directors.

Page 20