CHARrrY REGISTrATION NUMBER: 11)43f•67 Lowestoft Charity Board Unaudited flnancial statements 6 Aprll 2024
Lowestoft Charfty Board Flnanclal statements Year ended S Aprll 2024 P•g• Trustees, aMu81 report In*en(lent examinerfs f•POrt to th8 tNslee$ Slalemenl of fThn¢ial a¢dvilig$ Balance sheet Nottt to the finawal stslem•nls
Lowestoft Charity Board Trust•es' annual roport Year endéd 5 Aprfl 2024 Th? trustees prpsert thok reFK¥t WKI th• fjnwKial slatements of the tharny for ended 5 Aprfl 2024. Th• financlal slalenwnts ha been Frf•par•d in xctydarte wth Ihe 8ccounliig pc4iciw Set (Art in notes to th¥ aGci>unts c1jmFty the dwiitys g•)wnlrvJ dOwMl. the ChaTili8s Ad 2011 AUrfing and Rapoiting by Charllles: Ststemw4 of R•commendod Pradice 4pplkablo to thaiiliès preparing Iheir ac¢ows kn aaojrdance with th• FlnanGlal Rewtiry StarJgrd appkatle fft the UK aThJ R¢pulAl¢ of Ireland pubfished kn Oclobor 2019. R•gl8tsrnd ¢hTIty D•m• won9 nam• chlty v•glstr•llon Nmber 11M35FI 148 LoThj Rowl North Ptlnclyl offl Suff NR32 1IF The Intee6 8eMd the athè dale of 8Fyroval w¢rg as folkr. Mrs J co$. CtroF4ali4 G P 8thy. {R19ned 11Jl)5r202¥ 8 P Shaw. Ex P KnWI. Ncfflinativa (Raed 1ZWR023) trs M Ecd•s. Co. OFtsti¥e Iss R Paler%. (Reslgn•J 1(%Y)112024) ktrs C Leech. F4)Nlnatlv• E Yourynan. NrAnh)all% (Resigned 12h)712tr231 rm.Nthn P Pay. (Appoknted 1310712023) * A P&wce. NOMI¥8 {ApPcl•d 12107r2023) Rev S Stokes- Ex Olfico M NomWle IAFpoinled 1310024> $ kl Wart•rkn- Nomin*e (Appoinlgd 1310312024)
Lowestoft Charity Board Trustees, annual reportfrmthw Y•ar endod 5 Aprll 2024 Ckrf( 18 Church Pthwb eat Ymo Ch•rJty Nmb•t Chwch •nd Esl•l• Chty. 1(M3557 Li>weston Churth I1 Tty•m R•1 ln Need Chkn. 1015039 Loèsloft Chwth and Foundatk>n. 310400 In•nd•nt •x•n Love1 Bl&k• LLP Ch•rter•d Bank8ld• 3110 P•4¢hM Way Broa¢hnd 8u$kn•M Pwl( NR7 OL8 8•n*•rn 61 London Ro•d Nrrflh Lfmestoft Suffolk NR32 ILT 8to¢kbfok•rn B•T•ll & Cook•
Lowestoft Charity Board Trustett. annual r•port(cwthM Yoar ended 5 Apr512024 Obl•¢Yv•# and 4clM ot ptrsons under the age of 25. wiew lo maxlmlslTh3 the beneft Ilw ran lo cAher& Purpos•# •nd (r Charfws pwpos•s #re to bertr0 Promoting educatth of per$ under the age 4if25. •MI 3> Relleving ngfjd. hwdsNp and treSS. arml 4) Suppoiting fmncAty the of St MaryaTets Clwrth. Ltrwestoft Enlurfng owwork d•Nwrn aurahr Ihe outcomes of our work in the prevvJu5 12 nKnts. The re¥ looks at the S•$5 of each key athAy and the beneffl$ they have brw lo t)59 of Peo arn sd up lo help. The reW also help8 us ensur8 our aims. object$ and a¢ti¥kties renwined fo¢ed on ow staled purp$. We havg reteffed to the 9thdar Cained In the chY Cc¥Ymskn'$ 9ewal gudance publi¢ benfrt ¥then revleww our airn and otry'ectlbw and kn lutwe In wtiudar, th• truslees considèr how pl8nnèd 11 The CIKKch ld T4yTr Estalg and thi11er5 a portlolio of change In¥eslm8nts and a nwnbw of kwestmwl propubes wlh • %iew to prothcAng an anft 8wpIu8 lor dimslon w8uant to th• Trusl Deed of 14 March 1985. Thg L(yweJtoft Chwth )d Ton FJaIl0Th adminlsler5 InstmentS and pays gr•ts lo stste 6cfvJols tn the Lotoft wea 41so FrfOtThXes the educalvj) of L$t0ft residèrts aged der 25. Liy*$loft Indvhluals and wilh the obi8cl cl r¢knirwJ nèed. hardsh ty th$lr8S$.
Lowestoft Charlty Board Trustee8' annual report (eonthii• Year ended S Aprll 2024 ObJ•¢llv8• and aetMtIM Ch•iW• a¢hl•v•m•nts In r•litlan alms lor publ1¢ h•n•fft 1) Th• Lowesloft Church and Town Esl•l• Chlty Is conb'nuln9 wlth Ils programm• of ImpTovkng Ils slock ol in1¢MInI proporfles. 2) The Loweoft Chw¢h 4nd Tiywn EdUtion FoundalEw con11nu to m•kè dducatlonal grrts 88¢691fy to hlgh•r edurallon 8ludenl•. 31 Tho Lthv•81oft Ind Town ReN In Ch•rity conllnuts lo pay grant• lo rell•¥• hord8hlp and 8lr¥•. Achl•v•m•nts and p•rfornMn¢• 11 Th• Lowefjlolt ChUh and Ttrwn E•lal• Chlrfty fec•ld kncomfr of £120,107 and Inr•d exp•ndllur• 01 £87,673 {kn¢dI th• £32.434 Sl 141•rgwefs PCC f••llocallon) durlng Ihe cwi• ol th• yèar. The fln•nclAI pollllon ol Ihe Ch•rlly al th• y••r •nd wis ulhfaclory. wlih th• •wp lor tho y••r belJv4 loct•d In accOrdAn wlih th• Tfull 8them•. 2) Thtr Lowe810ft Church and Edu¢pllon•l Fourydailon Mnllnu•¥ to m•k• •du1 gr•nls, 88pecl•lty to hlghor •duc&tlon 8lud•nls. In¢om• for the y••r an(In10d lo £6.960 And •xpendllLrre of £15,250. The Inv•8lm•nlB hald In •ccord#nu wllh th• Iru81 Kme {•xdudln9 118 $hare ol thè E8lal• Charlly Surplu¥} T r•valued durlng lh• ar r•Julllng In on unr••ll8ed gain 01 £18.373. Th• flnan¢l41 poslilon al Iho y•ar qnd wo8 8•118factory w6th th• balanc• of dlilrlbut4t4e fvnds bekng £173,315. 3) Th• Lowe•l)ft Chjfch and Town Rel1 In N••d Ch•rty ¢onlInu lo pay gran1$ lo rellm hardghlp Ind 81r•is. Inctsm• for th• yoar {¢x¢ludlng 118 share of the Esl•l• Chartty Surpluil wa8 £4.030 and exp•ndltur• amounl•d lo È2.155. Th• inv•slm•nl$ hold for qernrntlnq Incom• for di1tr61yJtion w•re rnvaluod al the year •nd r06ulllng In an unrgallsed o•ln 01 £2.353. Th finen¢lal p08115on at lh• year •nd wai 8all8lJclory wlth th• lInCO ol dIslrftsb1• funds b•lng £188,9S7. FIMn¢lal rwl•w Th• r•wlt• of tho Ch•rfty af• i•1 oul In d¢to11 on pap 7. R•••ryo8 PoN¢y The Eslale Ch•rity hold$ $uffict¢nl r•8w4e8 to g•ner8to incom• for Its Gharftabl• wrpo8e8. Th? flnancl•l pos61lon at th• y•ar end s•tlsf•ctory with th• balan ol dlilthitabl• ftmd8 b•lng £358,704. Tho Relèl kn Nead Ch•rlty The EdallOn8¢ FouAd•llon maFnt8ln suffid•nt fund$ lo pay anwal gran18. The Genernl Benefil fund is m•InIaln in accordaneé tho trusl dg•d and relatM sufficlenl fvndi to rneel Ihg co81 of any excepUon•l •xp•ndllure or Othe1 to dIstrul& Is the tw¥te•s s•• f Pl•n• lor fthw• p•rlod• To conllnu¢ lo malnlaln upgr•d• Sts $toGk ol Inveilm• Pmperfles.
Lowestoft Charity Board Trustees, annual report (conllnuedl Year ended S April 2024 Structure, governancè and management Governing document The Charity is regislered with the Charity Commission and was created by scheme sealed on 24 April 1970. 11 incorporates Ih charities ol Lowestoll Church and Town Eslale Charity, Lowestoft ChuTch and Town Relief in Need Charity and Lowesloll Church and Town Educational Foundation. Trustee appointment and organisational structsre Trustees are eilher nominaled by Lowesioft Town Council. Oulton BToad Parish Council or Si Margaret's Parochial Church Council. co-opled by existing Iruslees or are ex-ollicio. The Lowestoft Charity Board incorporates various registered charities las detailed on page 11. These charities share common Trustees and ale operated as one adminislralive unil. The Loweslolt Ghurch and Town Altnshouse Charity produces sepaiale financial statements allhough il is operated from the same administrative unit. The day lo day adminislralion of the Board's actimlies is undertaken by the Clerk under the supervision of the Truslees who meet bi-monthly and review all the expendilure. The trustees rneet on a bi-tnonlhly basis lo monitor the resulis and progress ol Ihe Board with a view to maximising the delivery ol its charitable objectives. Rlsk Management The truslee5 have a55essed the major risks lo which Ihe charity is exposed and are 5ali5fied that there are systems in place to mitigate those Tisk5. Related Parties The charity is connecled with The Lowesloft Church and Town Almshouse Charity. The two charilies have common trustees and are administered commonly at the Same registered office. The onSy Ifansaclion bèlween the charities is the payment ol an inlercompany loan balance held wilh The Lowe510ft Church and Town Almshouse Charity. The Iruslees do not consider il appropriate io consolidate the results a5 Ihe chaTilies have different obie¢tives. True and Fair overrlde The accounts (financial slalemenlsl have been prepared lo give a true and fair" view and have departed from the Charilies IAccoun15 and Reports) Regulalions 2008 only lo the exlenl required lo provide a Irue and fair wew" This deparlure has involved following Accouriling and Reporling by Gharilies by Charities preparing their accounts in accordance with the Financial Reportiag Siandard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019 ialhei than Accounting and Repotling by Charilie5'. Slalemenl of Recomrnended Practice elleclive from 1 April 2005 which has since been withdrawn. The Iruslees'-annual report was approved on Iru51ees by. //Jiké Z4 nd signed on behalf of Ihe board ol Mr R Slebbings- Nominative Ichairmanll Ex Officio Tnjslee
Lowestoft Charity Board Indepond•nt examlnerfs r•port to the trustees of Low•stoft Charlty Board Year endéd 5 Aprfl 2024 I report lo the th81y trlee5 on my al fwrwjal Statem of the ¢trlty year ended 5 2024 terMnt of i¥il. blknce sheet and thè noles. R••poitslblllll•s and bA•ls gf v•pNI As the Ch15 tntstws you resprms5ble Fyeparnthx of th• fina%ial In aOrth¢e wlth the requ¥8 ofthè ctrAr•s Act 2011 Cthe Arf). the Act and In C4frylng crt exanknakn I ha4 lolryéd aFpllcable Cection$ go by the tharfty Comml8sion w)der soclknn 145(5)(bl of Ihg Ac I have IxjmtA•led my exa. I tanfirm that Th) malerial miers ha come to my attentknn In comedon the gxanmmtw rne Cause lo t1 that ry) any nrial r•s 8ctthml•w rerxth wtto kw in respeia ofthe th#rity as raqwed by $e¢tlon 130 of th&Ad,' the ltr)aal do r1 cthwy t1 apabkn reqrMS o)ncemww fom and conlenl of acwJnts sèt out li th• Chitw GAC£ Reports} Regulalh)ns 2008 oth•r Ihan ary quIreMent that th& accwrts gr4 a and fgrf which b nol a mattor ¢on$klered as I havo no ¢oncerns haNp ojme ¥ross ither maders In comecilon th thè eXltIOn to tenlion slKuld be drawn tn rewt kn der to enaNe a wopor undwslaThry of the aeuunts lo Ix Yr attenlion is thawn lo the Ixl that Ihe Chgr h8$ wepar•d t fftsnrial slaiements) cord8nce 1h A¢¢thmting and R•portw)g by ch•S. Slaternent of Retsjrnmend Praciice ap¢•ble lo chaiilles preparlng their ac<oLm15 In a¢¢¢xdani¥ th• Fhndal Rep)rtirw Standard ¥pplit4blo In thè UK and Republic ol Irela {FRS 1W2) kn prthrK to the ACtling afMI Ropothg by Chartlles: Statemert of RecommeThJed Practice on 1 2005 wlwth ts fvferred ts in the extant regulatir but ha$ SI# l understand Ihal thh has been wdèr for the AK01$ kn k¥o¥idg a tsirth in xeord•nce uary2015. Mark Proctor FCA DC lThJep•Mlenl Exwef Lovowell Blakg LLP 8ankside 300 Peachman Way Broadland BUSI Pk NR7 OLB 2610912024
Low•stoft Charity Board Statement of flnanclal actlvlloes Year ended S AprH 2024 2024 2023 fund Totsl tsnd• Told fun In¢om• nd •ndty••mth Inveslm•nl Incom• In+nI incon 82.392 48,705 131.097 82,392 48.705 131.097 76.239 43,710 Totsl Incorn• 119,949 Exp•ndSfyr• 1105.0781 (105.078) (105,078) 1105.0781 (96.507) (96.507) Totsl •xp•ndlttw• 26.019 28.019 23.442 Not on 91.337 91,337 29.871 N•t Incom• •nd n•1 mobwn•nl In fun 117.356 117,356 53.313 R•Gon¢Nlllon of fvnd• Totsl furrfl• brought f¢Thd Totsl fund• TrI•d lomnl 3.848,963 3.846.9J3 3.793,850 3,964.319 3.846.963 3.964.319 Th• sl•l•m•nl offin•nd•l •c1w los•es rKogrl••d In th• >w. All Incom• and •xp•ndrtUf• fr)m cmlknulng •cll4itbM. Th• n•ts• on p•gM • to 11 lorni olth•ll• Iln•nGlal tht•m•nts.
Lowestoft Charity Board Balance sheet 5 April 2024 2024 2023 Not• Fixèd assets Investment property Investments 11 12 1,502.859 1.557.407 1.610.359 1,460,036 3.{0.266 3.070,395 Currènt assets Debtors Cash ai bank and in hand 13 328.796 617,169 403.248 411,099 945.965 814.347 cdItors.. Amounts falling due within one y•ar 14 141,9121 137,779) Net current assets 904.053 776.568 Total a$sets less ¢Lrrrent liabilities Net ass•t$ 3,964.319 3.846,963 3,846.963 3.964.319 Funds ofthe ¢harity Unreslricled funds". Revalual¢on reserve Other unreslricled income lunds Total unrestricted funds 1.511.167 2.453.152 1,511.167 2.335.796 3.964.319 3.846.963 Total charity funds 15 3..319 3,846.963 These Iinancial statements were appioved by the board of trustees and aulhorised lor issue on . and are3igned on behall ol the board by.. Mr R Slebbing5 - Nominative Truslee Chairma oirtuo The notes on pag•s 9 to 16 fonn part of thest financial statements.
Lowestoft Charlty Board Notos to th• flnanclal stat•ments Year ended S Aprll 2024 G•n•rnl Infam110 Th• ¢harfty18 r•glst•r•d ¢h•rlty in Eryland and and 1$ wlncoyl•d. Th• •d(IrM of thè pr4ndpAI Offi Is Nort P•skett sol1th1, 148 London Road North. Lowestoft. NR32 1HF. Thls chaty manag•$ a portfollo of re$ldonll81 properties and Inveslments wllh a vlfjw lo n•ting Income for dIsbliOn In prfrd&t•milned shaTes lo SL MargaT•l8 Low•stoft PCC, J r•li•f n••d chartty, an •duc•llon Ii)undalion and 8 reser4• lor g•n•r•l norrt chartty. 81at•m•nt 91 ¢gmpll•n¢• Th• ¢h•dly (•n8llluiei a publlc b•n•fft •n¥ty •• d•lkn•d ty FRS 102. Th• Ilnandal ltslomonts hav• b••n prepared In Jccordanc• wllh Accounllng and R•portlng by Cha11e9.. Stalemert of Recommend•d Pract1 appllc•bl• lo ¢h•rflles prèparlng Ih•lr accounts In wlth th• Flnandal R•portlng Standard app11¢9bl8 In the UK and Republlc of Ir•land l¥$u•d In O¢lobgf 2019. th• Flnonc4Jl Roportlng Sl•ndard •pplkqble In the Unll•d lQngdorn and R¢pubUc of Iroland (FRS 102), tho Chari¢l•i Acl 2011 And UK G•nor411y Accept•d Accounung PrA¢tIc•. Th• flnarKthI 8tal•m•nl• h•v• b••n pr•parnd lo glv• • Iru• Ind l•l¢ ¢W and ho d•p•rt•d from I Charfll•8 (Accounts and Reporti) Rogul81ion8 2008 ¢)nly lo Iho •x¢enl r•qulr•d lo ProdI 4 Iwe and l•lr v6th¢. Ths d•p4rtwe has In¥olved fouowkng th• AcA)unling and Reportlng by Ch•rill•$.' Slatèmenl ol Recomm•nded PrnGtlo •ppllcablè to charltl•8 pr•p•rfng Ihglr cOUn18 In e0rdanc• wlth tho FInar18• R•porfln9 Sl•ndard oppllc•bl• In th• LIK Ind R•publlc ol Ir•larKI l$su•d Sn October 2019 r•lh•r Ih•n lh• Accounllng and Reporllng by Ch•rilt•i'. sl8l•menl of Recommerd•d Pr•¢tlc• èfféct8 from 1 Aprll 21K)5 whlth In¢• b••n t6ththwm. A¢¢ountlng polkl•• (•) B•¥l• ol prnp•r•th>n Th• fln•nclAI sl•temenls ha bn pr•p•r•d Ihe hhlork•l coll b•$l•. •8 modwled by lh• rovaluallon ol certaln flnand¥l gs••l• And Il#blllll8s and Inv•8lm•nl propertitb moa8w¢d 01 fa valu• Ilwough Incomg or •xp•ndllurn. Tho fln1 st•lem•nt• •r• w•p•r•d In 8t•rflng, ttAch li lh• fwKtltsnal cuff•ncy of the entity, {b} Gpln9 ¢on¢•rn Tho I1n8ncl it&m6ntS have boen piepar•d on a golng conoom bo$ls, •# th• Tn1614e8 bell•ve that no malertal una•rtolnll•s •x15t. Tho Truste•$ haw consld•r•d th• lovèl ol funth h•ld •rKI lh• •xp8dad le1 of kncome and expendbiuré for 12 months from Julhorlslng Ihi8è flnanclal 8181om8nl8. Tho budgel•d Incomg and exp8ndltur•1s sthd•nl wlth th•1ovd of rn$•rv•• for th• ¢**rily to b• abl• to ¢ontlnuè ai a qolng conc•m. (GI Fund accolIng Urwestrlcled fund$ are avalab lor use al the dlsu•kn of lh• truitee8 to furth•r •ny ¢1 thè thaw8 Dèslgnaled lunds •r• unr•slri¢t•d funds •am)athed by Ihe Iw81•0$ lor portl¢ualr fulurn woJect or ¢mIlM0nl.
Lowestoft Charity Board Not•s to the financlal slatements (¢•Ai6¢ Year ended 5 Aprll 2024 l A¢ColIng pokl•# (¢ th¥rty. it 1$ probablt thal the bwfits associated wlth thè tr#Mathon win kni lo the ¢hadty and the amouN ¢an be r•liabty Thaswed. Th• lolowiTra spoclfic prs are appld lo particular {•} Exp•nth Exp•ndllure is rocyls•J on ac¢¥ ba6ls # • lat4tty Is Inc%Thd Expendllure hIleS 8ry VAT which nn01 b& fuly roco¥•red. Is cjassified Lu¥Jer headiThJ5 of Ihe $laternwl ol financial . expenrfjlure on Chaiitable rosls •)CUTred ty a charity In uThJertakln9 acti119$ thal lurthw its dwilable aNns for lh• b•n•fil of b8nefKits. Indudlng those swport cosls and - other expenthlufe 41 expond1 t11 Is nellmr rdated k) rakslrvd I¥1$ for th• dwrlty nor P8rt of Its expenthtw• on acll4rfie& Al costs we ated Its expejrtU[? catawkns use ot the resouru. Llrtti c0519 attrfbLrt8blg to a single aifocaled lo thal •thty. Shred ¢¥Jsl$ are 4>prortknÈd 1) iwJlk1ing5 we three years th• aggregth surplu$ or defjc4t Is transferred lo the &alwrnt ol Flwthl Athllles. The amount by wNch thè vthatlon of Indlifjdu41 propthos Is less than thek cthi and consid•i•d to bo pwman1 Is c4iarged to th8 Si8lwnent ol Finan¢W Adi%itss. LIB¢ inves1nrIS we rrwwed at f•tr ¥ak llh fak tse racogrd8•d in profft or loss. th) Fkn•n¢W IMtrum•nts A financial assel c¢ a thwKaal Is racoy4Md ¢)nty th8 enthy bgci¥n88 a pty lo th• related trans8dion Costs, ¢55 th& ement ¢Mslitute$ 8 IMs&t1, whore R Is recognlsed al Ihe presènl fulure ptyrrnnts (liscourthl ai a mat r of Intèrttsl for a simHar détrt In$lrLW Cuffent assets and wrent li$ subsewbty me*w•d al th• cash olhwr conslderallon -10-
Lowestoft Charfty Board Notss to the flnanclal statements Year ended 5 Aprfl 2024 {D Grnnl8 p•yab Grants payablo ore Included kn full In tho S¢•temènl of Flronci•l Adlvillès In th? porfod kn ¥Jhlch ia)nstNdi oblgallon 15 •slablshed. Inv•#tm•nt In¢om• Unrèsldcted Totsl Funds Unre$lrl¢t•d Total Fund8 Funds 2024 Fundg 21Y23 Genwal and ground rent Rental wrfte onloff$) 82.392 82.392 76.271 1321 76239 76,271 1321 78.239 82,392 82.392 Inv•th•nt In¢om• 1th[8stted Tolal Fund$ Unrnslrictèd Total Funds Funds 2024 Fundg 2023 8an Inl•rn81 Olher loan ullerest reCeId Inveslmenl Income 2,082 7,$28 39.095 48.705 2.082 7.528 39.095 448 7.380 .882 35,882 43,710 48.705 43.710 exp•ndknrn •)n ¢h•rltsbl• •¢llvltl•• urlCled Total Fund8 Unrestrlcled Total Funds Funds 2024 Funds 2023 16,992 32.434 2.S32 16.992 32.434 2.532 15,233 27,955 2.48S 572 2.830 47.432 15,233 27.955 2,485 572 2.830 47.432 Trnnsfer lo St MargaT8ts PCC Insuran¢8 ght and heat Coundl ral95 SuppNt cosls 18 52.656 105,078 18 10S.078 96.507 ,507 Grnfls pald we for Ihe purpose of proJlng suppryl lo individugls and ganIath?nS a5 dolal•d in the Twsle8s' Report. 11
Lowestoft Charity Board Not•s to the flnanclal staiements Year ended 6 Aprll 2024 Anaty•l8 of ¥upport ¢0 Funds Totsl 2024 Total 2023 Premisfjs Gernral offic• Govemance costs Managemnt fees Professional I3 29.901 267 7.650 475 8.oc6 6,947 47.432 M•1 on Inv•sth Llrn¢slrkt Total Fund• Unr•strl¢Xed Total FundB F)d8 2024 Funds Unre1$•d Oos$Vsufplus on rnvalu of Inveslments, held fty us• (6,5(I 104.231 104231 97.837 91,337 (74,360) 29.871 C14.360) 29.871 91.337 2023 Fees payable to ithpwthl gxamrm f(r. 7.650 p•rnonn by the tru$leo5. d, no en¥10 mnrat)n ol th•) £eo.OLYI du1W the year (2023.. £Nil). 12-
Lowestoft Charfty Board Notes to tho flnanclal statemerts Year ended S Awll 2024 IntrnIn¢ Prop•rty C1 At 6 Ap 2023 •pou 1.810J59 {107.5001 1.502.859 6 Apth 2024 D•prn¢lallon At l Aprfl 2023 •Dd S AWN 2024 C•Thykng amount At S 2024 1.502,859 1,810,359 Al S Awll 2023 Th• fmd SI•d •b(w• w• umd lor dr•ct cw•N• th. Land and ww• ty lh• lJu•l#A •ThJ by Eatsl ConMnwd41 Chart•r•d Sur¥•yty• al JY 2023 on the b•th of opth mathl v4k. Tr I$1 of •nd Ixthirvji 11 £388.386 (2023.. £589,525). 11 kn¥•#lm•nts Oth•r lTrw•tm•nts Co•t or At O Aprll 2023 Addlliohi Dispos Net cosh mo¥•m•nts 1,480.038 187.761 1184,1651 18,84n 102.422 At 6 AP 2014 Impalrnwnt At 6 Aprll 2023 •nd 6 Aprt 2024 C•rrylng mount At $ Aprll 2024 At 5 2023 1.557.407 1.6S7.407 1.480,036 The hlslryk co of hY4e8tskn h £974.8 (2023: £916.0441. 1>. D•btorn 2024 2023 Prepaymenls w¥1 ocu1 Other debtor8 1,717 401.$31 403248 327.790 328.796 13-
Lowestoft Charity Board Notes to the financlal statem•nts (conthju Year ended 5 Aprll 2024 13. Debtorn (willTrwOJ iknr debtors Inthd8 £298,920 due from the L10ft Church Ttylm Almslb)use cha1y. conneLled ¢harity. vepayable over 25 yeafs. £20.000 Is in lèss than 1 year. £278.920 is due in more than 1 year. The total balae includes Miloresl rKelvabJe 01 £7.528 (2023.. £7.380) al 2% on loan. Th• told pr•paym•nl wlmth Is due less than 1 year18 £710, ryth £296 dufr kn m(Ye than 1 year. 1& Cr•dltovs: AM•ts foNthg dts• wlthln on• year 2024 2023 A¢cm•l$ and defeed IncA)me St Margarels PCC Oiher Credliors 9,478 32,434 27.955 1.102 37.779 41,912 2024 2023 Dèfgrrnd Incom brought fcn¥ard Released during the year Deférrod duriThJ Ihe yèar 2.302 (2.3021 1,828 1,690 (1,690) Defe¢d Income cathe(I foThvard 1.828 2.302 D•lerred kncomo comwigfj funds reeoived in 8dvance for r•nt.
Lowestoft Charity Board Notes to the financlal statsments (conllft Year ended 6 Aprll 2024 1& An•ly•l# of ¢h¥lt•bl• fund• Unrn8trl¢l•d fvnds Trgnsler•l Galns and lo•$•$ Al 6 Aprfl 2023 At 6 Aprfl 2024 Expendltw• Goneral ftmds Re8•rve for gM•r•l benelll R•voluthn ro¢•rv• 2.143.703 131,097 {105.078) (18.3631 2.248,086 192,093 1,511,187 3,848.963 12,974 205,C87 1.511.167 131.097 (105.078> 165.389) 3.964.319 Vnrt•lrf¢t•d fvnth Tf•n8f8rn1 G•lns Ind A16Ap 2022 Al J Aprfl 2023 InMm• Expendliur• General fun ResoN• lor g•n•rnl fil Rev8lu•Uon r•i•N• 2.101.5n 119,949 196.5071 18,889 2.143.703 180,911 1,511,167 3,793.850 11.182 192,093 1.511,167 3,846,963 119.949 (98,507) 29,871 11. An•ly•l• Of n•t ••••ts b•lw••n lund• at S AP 2024 In¥tlnI Property Inv•8tment• currnnl T¢tal Funds ai8è18 2024 UnM•trl¢t•d Ineom• Fun 019n01•d Fundj G•n•r81 Fund8 RevaluJtlon r•s•rvo 205.067 898.986 205,Oa7 2,248.085 1,511,167 601,475 901.384 947,624 609.783 1.002.859 1,557,407 904.053 3,984,319 A8 41 S Aprtl 2023 Investment Prop•ty InN*knèn18 Not ¢urr•nl Tot•1 Funds 2023 Unmlrfot•d Incom• Fund• 0•slgnal•d Fund3 Genernl Fund8 Rev•Ml10n rese 192.093 $84.475 192.093 2.143,703 1.511,167 708.975 901.384 850,253 809,783 1.610,359 1,460,036 776,568 3.846,983 16-
Lowestoft Charity Board Notes to the financlal Slatements (conlthu¢rfl Year ended S Aprll 2024 17. D•¥lgnat•d fund Resem for general benofit 2024 2023 A¢¢urnulal¢d fund al beiftg of pead Alocallon of e$lale 192.093 12,974 205.067 180.911 11.182 192.093 18. R•l•tsd p•rtl•8 In 2013. the charfty provhjèd a loon of £315.0(KJ lo The Low8Stoft Church and Town Eslale Charlly. charity whlch Shares th• same tNslees as th18 rtharity. lo fund the •cqulsSUon of the LongB Dalry 8ile. An Infomwl loan was also Issuèd when Ltr*es10ft Charity BO8 openèd a new s•parate bank ac(uunl and left 8ome of its funds in the etharitys bank occouni. Al the balance 8heet date £299.266 12023.. £376,392) was du¢ lo the Loweslofi Chadty Board. The balanco Is se(xred by a legal char over some ol of the chariV$ freehold propety. The enltre amount 1$ rapayablo by Ins141m8nts 0¥rf 25 yoars wlh Inl8resl CuendY al 2%. 16-
Lowestoft Charlty Board Notes to the financlal slatements (egndnu•d) Year ended S Aprll 2024 19. A¢cuMlI•d fvnds- unrnstrl¢l•d fund8 G•n•rnl Bènefit Fund IO¢sIgrt•d Fund) Est*t• charlty In N••d Ch•rfty eknatlonal Foyndallon Total Acam)ulaled fvnd 016 Aprfl 2023 Not incomel{expendllurel for the ye¥ Ajlocalion of Eslale Charfty Suwus ReaNsed and unrealksed invesknent gakns 2.995.2S3 32.434 {32.434) 70.611 252.702 1,875 6,486 4t6.915 {8.290) 12.974 18.373 192.093 3.846.963 26.019 12.974 91.337 Tolal X¢UMal•d funds S Aprfl 2024 Swnmary ollund¥ Non41thbutabl• Funds: Investments al markel vthe Proporty inveslmenl Propaty rèvaluation 1,206.301 388.366 1.114.493 94.449 256.657 1.557,407 388.366 1.114.493 DlstrllMrt•bh Fundl: Ne¢ cuffenl ossots
Lowèstoft Charty Board Surnrnary of manag•ment Infomiatlon Year endod S Aprfl 2024 2Q24 2023 Swplithl(d•ficl•ntyi Eslate carfty $5.910 Rdl•f In n••d ch*y 1.876 Edl)n41 fryjndallon 58.453 61,397 Payment to Si m•19 PCC fw th• yr
Lowestoft Charlty Board Detalled summary of managomont 5nfomiatlon Year end 5 Aprll 2024 EdKatlon•l Foundatlon Charfty 2024 InN• Char Totsl 2023 2024 2024 2023 2023 2023 com• General gr¢wnd rent kweslmenl rKorn8 Loan interest receN4ble Ba¢ k&gr•¥t 82.392 76239 28,105 25.032 7.528 7.380 82.392 76.239 6360 6.909 39.095 35.882 7.528 7,380 4.030 3.941 T•)lal In¢offl• Exwndlturn DlreGt •xpenthrn Grants 15 Property •xyndWJv• Llghl and heal Repalrs lo pr•rnlx Council rate$ In¥wae 572 29.901 34.004 18 2.830 29.Sf11 34.1))4 2.830 Gov•rnan ¢ts Audit and accourtincy f••8 7.650 6.fy ProlessTon81 fees 9.336 Monagement fee 5.089 5.807 26 7.650 6,C#)8 9.336 5.502 413 1.140 6.947 413 Totsl •xp•nfv• 72 M•t Incom• I l•xp•n•Jthm) forth• y•r Alloc•llon of •lt• Dl$trilyJt>le R8k•f kn Need Ch#iity Educallonal FouTrJak R•s•M for genernl benell Sl. Margwets PCC 1110 12.974 12,974 115 19-
Lowestoft Charlty Board Sch•dule ol charftles Intsrests In Inv•stm•nts Year endod 5 Aprll 2024 la) Th• Low••toft CIMch and T1 E•tst• Ch•rfty MI•1 V•lu• locam• v•¢•lvbl• Co•t 1.173.214 889.091 28,105 Ib) Th• L•Th••toftClw and Town R•W In Il••d ChaY rk•t v•lu• Inco rK•fv•b Co•1 3.239.1 Incwn• M&G chart 2,281.43 Incom• Choths Oln¢thl In¥•strMnl Fun¢J 1,130 Tre•MKy 0.126% knl•x trthed il 47258 45.837 2,786 45.851 7.144 1,243 1¢) Th• Low•¥t4ft¢lwffh •nd Tv•m Ethullon•l Fo110M •rk•t Valu• Incom• rne•lvAbl• Co•t 12.773.08 Incom• Shw•8 Ch*lUg• Oflclal Investment Fu1 700 0.126% WvJ•x •to¢k 255,801 17,1)80 6.959