REGISTERED CHARITY NUMBER: 1026914
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
FOR
LUPTON TOWER TRUST
Mitchinsons Accountants 22 Market Place Kendal Cumbria LA9 4TN
LUPTON TOWER TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
LUPTON TOWER TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024
The trustees present their report with the financial statements of the charity for the year ended 31 July 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1026914
Principal address
Arnold Greenwood Solicitors 8-10 Highgate Kendal Cumbria LA9 4SX
Trustees
S Pooley Reverend R J Snow Father H F P Pollock Mrs S F O'Halloran
Independent Examiner
Mitchinsons Accountants 22 Market Place Kendal Cumbria LA9 4TN
Approved by order of the board of trustees on 14 May 2025 and signed on its behalf by:
S Pooley - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LUPTON TOWER TRUST
Independent examiner's report to the trustees of Lupton Tower Trust
I report to the charity trustees on my examination of the accounts of Lupton Tower Trust (the Trust) for the year ended 31 July 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Jennifer Marshall
Mitchinsons Accountants 22 Market Place Kendal Cumbria LA9 4TN
16 May 2025
Page 2
LUPTON TOWER TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Investment income 2 42,877 EXPENDITURE ON Raising funds 3 5,454 Charitable activities Grants 38,718 Support costs 4,320 Total 48,492 NET INCOME/(EXPENDITURE) (5,615) RECONCILIATION OF FUNDS Total funds brought forward 17,659 TOTAL FUNDS CARRIED FORWARD 12,044 |
Restricted fund £ - - - - - - 940,000 940,000 |
2024 Total funds £ 42,877 5,454 38,718 4,320 48,492 (5,615) 957,659 952,044 |
2023 Total funds £ 34,669 |
|---|---|---|---|
| 4,424 26,394 3,000 |
|||
| 33,818 | |||
| 851 956,808 |
|||
| 957,659 |
The notes form part of these financial statements
Page 3
LUPTON TOWER TRUST
BALANCE SHEET 31 JULY 2024
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Debtors 7 Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ - 11,626 1,138 12,764 (720) 12,044 12,044 12,044 |
Restricted fund £ 940,000 - - - - - 940,000 940,000 |
2024 Total funds £ 940,000 11,626 1,138 12,764 (720) 12,044 952,044 952,044 12,044 940,000 952,044 |
2023 Total funds £ 940,000 - 19,459 19,459 (1,800) 17,659 957,659 957,659 17,659 940,000 957,659 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 14 May 2025 and were signed on its behalf by:
S Pooley - Trustee
The notes form part of these financial statements
Page 4
LUPTON TOWER TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold Property is not depreciated as it is stated as current value.
Taxation
The charity is exempt from 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.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Rents received | 42,877 | 34,669 |
Page 5
continued...
LUPTON TOWER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
3. RAISING FUNDS
Investment management costs
| Investment management costs | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Support costs | 5,454 | 4,424 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Investment income 34,669 EXPENDITURE ON Raising funds 4,424 Charitable activities Grants 26,394 Support costs 3,000 Total 33,818 NET INCOME 851 RECONCILIATION OF FUNDS Total funds brought forward 16,808 TOTAL FUNDS CARRIED FORWARD 17,659 |
Restricted fund £ - - - - - - 940,000 940,000 |
Total funds £ 34,669 |
|---|---|---|
| 4,424 26,394 3,000 |
||
| 33,818 | ||
| 851 956,808 |
||
| 957,659 |
Page 6
continued...
LUPTON TOWER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
6. TANGIBLE FIXED ASSETS
| COST At 1 August 2023 and 31 July 2024 NET BOOK VALUE At 31 July 2024 At 31 July 2023 |
Freehold property £ 940,000 |
|---|---|
| 940,000 | |
| 940,000 |
The freehold property valuation in the accounts of £940,000 is the value of Lupton Tower as at 20 June 2018.
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 9. MOVEMENT IN FUNDS At 1.8.23 £ Unrestricted funds General fund 17,659 Restricted funds Property Fund 940,000 TOTAL FUNDS 957,659 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 42,877 TOTAL FUNDS 42,877 |
2024 2023 £ £ 6,476 - 5,150 - 11,626 - 2024 2023 £ £ 720 1,800 Net movement At in funds 31.7.24 £ £ (5,615) 12,044 - 940,000 (5,615) 952,044 Resources Movement expended in funds £ £ (48,492) (5,615) (48,492) (5,615) |
2023 £ - - - 2023 £ 1,800 At 31.7.24 £ 12,044 940,000 |
2023 £ - - |
|
|---|---|---|---|---|
| - | ||||
| 2023 £ 1,800 |
||||
| 952,044 | ||||
| (5,615) |
continued...
Page 7
LUPTON TOWER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.8.22 £ Unrestricted funds General fund 16,808 Restricted funds Property Fund 940,000 TOTAL FUNDS 956,808 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 34,669 TOTAL FUNDS 34,669 |
Net movement At in funds 31.7.23 £ £ 851 17,659 - 940,000 851 957,659 Resources Movement expended in funds £ £ (33,818) 851 (33,818) 851 |
At 31.7.23 £ 17,659 940,000 |
At 31.7.23 £ 17,659 940,000 |
|---|---|---|---|
| 957,659 | |||
| 851 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Property Fund TOTAL FUNDS |
At 1.8.22 £ 16,808 940,000 956,808 |
Net movement in funds £ (4,764) - (4,764) |
At 31.7.24 £ 12,044 940,000 |
|---|---|---|---|
| 952,044 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 77,546 | (82,310) | (4,764) |
| TOTAL FUNDS | 77,546 | (82,310) | (4,764) |
continued...
Page 8
LUPTON TOWER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2024.
Page 9
LUPTON TOWER TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Rents received | 42,877 | 34,669 |
| Total incoming resources | 42,877 | 34,669 |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants | 38,718 | 26,394 |
| Support costs | ||
| Management | ||
| Property management fees | 5,454 | 4,424 |
| Administration fees | 3,600 | 2,400 |
| 9,054 | 6,824 | |
| Governance costs | ||
| Accountancy and legal fees | 720 | 600 |
| Total resources expended | 48,492 | 33,818 |
| Net (expenditure)/income | (5,615) | 851 |
This page does not form part of the statutory financial statements
Page 10