CHARITY REGISTRATION NUMBER: 1043557
Lowestoft Charity Board
Unaudited financial statements
5 April 2025

Lowestoft Charity Board
Financial statements
Year ended 5 April 2025
Page
Tru$lees' annual report
Independent examiner's report to the Iruslees
Slalemenl of financial activities
Balance sheet
Notes lo tha financial Stslements

Lowestoft Charity Board
Trustees, annual report
Year ended 5 April 2025
The trustees present their report and the unaudited financial slalements of the charity for the year ended
5 April 2025.
The financial statements have been prepared in accordance with the accounting policies sel out in notes lo
the accounts and ¢omply with the charity's goveming document. the Charities Act 2011 and Accounting and
Reporting by Charities. Ststement ol Recommended Practice applicable lo charities preparing their
accounts in accordance with the Financial Reportin9 Standard applicable in the UK and Republic ol Ireland
published in October 2019.
Referenco and admlnlstrative detai
RegSstered charlty name
Lowestoft Charity Board
Charlty reglstratlon number
1043557
Prlnclpal office
148 London Road North
Lowestoft
Suffolk
NR32 1HF
The trustees
The twstees who seNed during the year and at the dale of approval were as follows".
Mr R Stebbings - Nominative Ichairmanll Ex Officio (Resign
14105120251
Mrs J Collins - Co-optalive
Mr5 P Shaw- Ex Officio (Resigned 19103120251
Mrs M Eccles - Co- optative
Mrs C Leech - Nominative (Resigned 19103120251
Mr M Gall - NoThin81ive (Vice Chairman from 14105120251
Mrs A Battrick - Co-optslive
Mr P Page - Nominative
Mr A Pearce- Nominative
Mrs G Battrick - Nominative (Chairman from 14105120251
Rev S Stokes- Ex Officio Ivice Chairman from 14105120251
Mr M Howes- Nominative
Mrs M Warterton- Nominative
Mr D Sp311 Ex Officio (Appointed 14105120251
Mr R Linlon - Nominative (Appointed 14105120251
Mrs J Dyer- Nominative lappoinled 14 May 20251

Lowestoft Charity Board
Trustees, annual report (c¢7ntlnu8d)
Year ended 5 April 2025
Clerk
Mr M Breeze
Norton Peskett Solicitors
18 Church Plain
Gre81 Yamiouth
Norfolk
Charlty numbor
Lowe510ft Church and Town Eslale Charity- 1043557
Lowesloft Church and Town Relief In Need Charity- 1015039
Lowestoft Church and Town Educational Foundation - 310460
Independent examiner
Mark Proctor FCA DChA
Lovewell Blake LLP
Chartered accountants
Bankside 300
Peachman Way
Broadland Business Park
Norwich
NR7 OLB
Bankers
Barclays B8nk Pl
81 London Road North
Lowesloft
Suffolk
NR32 1LT
Stockbrokers
Barrett & Cooke
518 Opie Street
Notwich
Norfolk

Lowestoft Charity Board
Trustees, annual report (conllnu8d)
Year ended 5 April 2025
Objectives and activltles
Thè objectives of the Charity are to provide financial assistance lo those in need and lo promote education
of persons under the age of 25.
Detailed objectives are shown in the aims and strategies paragraphs mentioned later.
The Trustees meet every two months lo review the results and progress of the individual charities with a
view lo maximising the benefit they can provide to others.
Purposes and alms
Our Charity's purposes are to benefit the public by..
11 Providing financial assistance lo people in need, and
21 Promoting education of persons under the age of 25, and
31 Relieving need, hardship and distress, and
41 Supporting financially the work of Sl Margarets Church. Lowesloft
Ensuring our work delivers our aims
We review our aims, otijectyves and activities each ye8r. This review looks al what we have achieved and
the outcornes of our work in the previous 12 months. The review sooks at the success of each key activity
and the benefits they have brought lo those groups of people we are set up lo help. The review also helps
us ensure our aims, objectives and activities remained focused on our stated purposes. We have referred
lo the gLtidance contained in the Charity Commission's general guidance on public benefit when reviewing
our aim and objectives and in planning our future aclivilies. In p8rticular, the trustees consider how planned
activities will contribute to the aims and objects'ves they have set.
How our aclivities deliver publlc beneflt
Our main aelivilies and who we try lo help are described above.
Signiflcant actlvltlgs undertaken
The Charity continues lo maintain its propèrties lo a high Standard.
Aims and Strategl&s
11 The Lowesloft Church and Town E5tale Charity manages and adrninisters a portfolio of stock
exchange investments and a number of investment properties with a view lo producing an annual surplus
for division pursuant lo the Trust Deed of 14 March 1985.
21 The Lowestoft Church and Town Educational Foundation administers investments and pays grants lo
slate schools in the Lowesloft area and also promotes the education of Lowesloft residents aged under 25_
31 The Lowestoft Church and Town Relief in Need Charity administers investments and pay grant$ to
Lowesloft individuals and organisalions with the object of relieving need. hardship or distress.

Lowestoft Charity Board
Trustees, annual report (¢ontlnued?
Year ended 5 April 2025
Objectives and actlvltles (contsnu¢dJ
Charity's achievements In relatlon alms for public beneflt
11 The Lowestoft Church and Town Estsle Charity is continuing with its programme of improving ils stock
of investment properties.
21 The Lowestoft Church and Town Educational Foundation continues lo make educational grants
especially lo higher education students.
31 The Lowe8toft Church and Town Relief in Need Charity continues lo pay grants lo relieve hardship
and stress.
Achievements and perfomianc&
11 The Lowestoft Church and Town Estate Charity received income of £107.887 and incurred
expenditure of £85,015 lincluding the £22.873 St Margaret's PCC reallocalionl during the course of the
year. The inveslmellts and property held were revalued al the year end resulting in an unrealised loss of
£652. The financial position of the Charity at the year end was satisfactory. with the surplus for the year
being allocated in accordance with the Trust Scheme.
21 The Lowesloft Church and Town Educational Foundation continues lo make educational grants,
especially to higher education students. Income for the year amounted to £7,100 and expenditure of
£11,400. The investments held in accordance with the trust $¢heme lexduding ils share of the Estate
Charity Surplusl were revalued during the year resulting in an unrealised loss of £15,121. The financial
position al the year end was satisfactory with the balance of dislribulable funds being £178,164.
31 The Lowesloft Church and Town Relief in Ne&d Charity continues to pay grants to relieve hardship
and stress. Income for th8 ye8r (excluding ils share of the Estate Charity Surplus) was £4,202 and
expenditure amounted to £2,573. The investments held for generating income for distribution were revalued
at the year end re5ulling in an unrealised loss of £3,271. The financial position al the year end was
satisfactory with the balance of dislribulable fLtnds being £175,171.
Flnanclal revlew
The results of the Charity are set out in detail on page 7.
Reserves Policy
The Estate Charity holds sufficient reseNes lo generate income for its charitable purposes. The financial
position at the year enc* was satisfactory with the balance of dislribulable funds being £357,459.
The Relief in Need Charity and The Educational Foundation maintain sufficient funds lo pay annual grants.
The General Benefit fund is maintained in accordance with the trust deed and retains Sufficient funds lo
meet the ¢o$l of any exceptional expenditure or otheMise lo distribute as the Iruslees see fil.
Plans for future periods
To continue to maintain and upgrade ils stock of investment properties.

Lowestoft Charity Board
Trustees, annual report (contlnuedj
Year ended 5 April 2025
Structure, governance and managemant
Governing document
The Charity is registered wf(h the Charity Commission and was created by scheme sealed on 24 April 1970.
It incorporates the charities of Lowesloft Church and Town Estate Charity, Lowesloft Church and Town
Relief in Need Charity and Lowesloft Church and Town Educational Foundation.
Trustee appointment and oryanisatlonal Structure
Trustees are either nominated by Lowesloft Town Council, Oulton Broad Parish Council or St Margaret's
Parochial Church Council, co-opted by existing trustees or are ex-officio.
The Lowesloft Charity Board incorporates various registered charities las detailed on page 21. These
charities share common Trustees and are operated as one adminislralive unil. The Lowestoft Church and
Town Almshouse Charity produces separate fin8ncial slalemenls although il Is operated from the same
adminislralive unil.
The day lo day administration of the Board's activities is undertaken by the Clerk under the supervision of
the Trustees who meet bi-monthly and review all the expenditure.
The trustees meet on a bi-monthly b881S to monitor the results and progrèss of the Board with a view to
maximising the delivery of ils ch8ritsble objectives.
Risk Manag8m8nt
The trustees have assessed the major risks lo which the charity is exposed and are satisfied that there are
systems in pla¢e to mrtigale those risk5.
Related Parties
The charity is connected with The Lowestoft Church and Town Almshouse Charity. The two charities have
common trustees and are administered commonly al the same registered office. The only transaction
be￿een the charities 1$ the payment of an intercompany loan balance held with The Lowestoft Church and
Town Almshouse Charity. The trustees do not consider il appropriate lo consolidate the results as the
charities have different objective8,
True and Fair ovorrida
The accounts (financial slatemenlsl have b&en prepared lo give a ' true and fair" view and have departed
from the Charities (A￿ountS and Reports) R￿ulationS 2008 only to the extent required lo provide a true
and fair view.. This departure has involved following Accounting and Reporting by charities by Charities
preparing their accounts in accordance with the Fin8ncial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 issued in October 2019 rather than Accounting ancl Reporting by Charities..
Slalemenl of Recornmended Practi￿ effective from 1 April 2005 which has since been withdrawn.
The Iruslees, annual report was approved on
trustees by..
and signed on behalf of the board of
Mrs G Battrick- Nominative
Chair

Lowestoft Charity Board
Independent examiner's report to the trustees of Lowestoft Charity Board
Year ended 5 April 2025
I report to the charity trustees on my examination ol the financial slalements of the charity for the year
ended 5 April 2025 which comprise the statement of financial activities, balance Sheet and the related
notes.
Rèsponslblllties and basis of report
As the charity's Iruslees you are responsible for the preparation of the financial statements in accorclance
with the requirements of the Charities Act 2011 I'lhe Acl'l.
I report in respect of my examinats.on of the charity's financial slalements carried out under section 145 01
the Act and in carrying out my examination I have followed all the applicable Direetions given by the Charity
Commission under section 14515llbl of the Act.
Independent examlnerf$ Statement
I h8ve completed my examination. I confirm that no material matters have come lo my attention in
connection with the examinab.on giving me cause to believe that in any material respect.
accounting records were not kept in Tespecl of the charity as required by section 130 of the Act.,
or
the financial ststements do not accord wlh those recofds.. or
the financial statements do not comply with the applicable requirements concerning the form and
conlenl of accounts set out in the Charities IAccounts 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 lo which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Your attention is drawn to the fact that the Charity has prepared the accounts (financi81 ststementsl in
8ccordance wth Accounting and Reporting by Charities." Slalement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
8nd Republic ol Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities". Slalemenl of
Recommended Practice issued on 1 April 2005 which Is referred lo in the extant regulations bul has since
been withdrawn.
l understand that this has been done in order for the accounts lo provide a true and fair view in accordance
with the Generally Accepted Accounting Practice effectsve for reporting periods beginning on or after 1
January 2015.
Mark Proctor FCA DChA
Independent Examiner
Lovewell Blake LLP
Chartered accountants
Bankside 300
Peachman Way
Broadland Business Park
NorwiGh
NR7 OLB

Lowestoft Charity Board
Statement of financial activities
Year ended 5 April 2025
2025
Unreslricled
funds Total funds
2024
Tota5 funds
Not
Income and ondowmgnts
Rental income
Investment Income
70,714
48,475
70,714
48,475
82,392
48.705
Total Income
119.189
119.189
131.097
Exp&ndilur8
Charitable activities
1148,9881
1148,9881
{148,9881
{148,9881
1105,0781
1105,0781
Total &xpendlture
Net l¢xpenditurellincome and net movemènts in funds
bgforo galns and losses on Investments
129.7991
129,7991
26.019
Net (lossesllgains on investments
119,0441
119,0441
91,337
Net lexpendlturelllncomo and net movgment in funds
148,8431
148,8431
117,356
Reconclllatlon of funds
Total fLJnds brought forward
Total funds carried forward
3,964,319
3,915,476
3,964.319
3,915,476
3.846,963
3,964,319
The slalernent of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing aclivilies.
The notes on pages 9 to 16 form part of these flnanclal statements.

Lowestoft Charity Board
Balance sheet
5 April 2025
2025
2024
Note
Flxed assets
Investment propety
Investments
1,594.984
1,445,482
1,502,859
1,557,407
3,040,466
3.080,2e8
Current assets
Debtors
Cash al bank and in hand
13
290,626
620,184
328,796
617,169
910,810
945,965
Creditors.. Amounts falllng du& wlthln
one year
14
135,8001
141,9121
Net current assets
875,010
904,053
Total assets less current liabilities
3,915,476
3,915,47e
3.964,319
Net assets
3.964.319
Funds of the ¢harlty
Unrestricted funds..
Revaluation reserve
Other unrestricted income funds
1,458,565
2,456,911
3,915,476
1,511,167
2,453,152
Total unrestrlcted funds
3.964,319
Total charlty funds
15
3,915,476
3,964.319
The
16
e financial slalemenls were approved by the board of Iruslees and aulhorised for issue on
and are signed on behalf of Ihe board by..
Mrs G Battri¢k- Nominative
Chair
Thè notes on pages 9 to 16 fom part of these flnanclal $tst&mgnts.

Lowestoft Charity Board
Notes to the financial ststements
Yoar ended 5 Apri5 2025
General infomiation
The charity is registered charity in England and Wales and is unincorporated.
The address of the principal office is Norton Peskett Solicitors, 148 London Road North. Lowesloft,
NR32 1HF.
This chanty manages a ptsrtfolio of residential properties and investments with a view lo generating
income for distribution in Pre-determined shares lo Sl. Margarets Lowesloft PCC, a relief in need
charity, an education foundation and a reserve for general benefit charity.
Statement of compllance
The charity constitutes a public beneff( èntity as defined by FRS 102. The financial slalernents have
been prepared in accordance with Accounting and Repo*tng by Charities. Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the
Financial Reporting Standard applicable in the United Kingdom and Rèpublic of Ireland IFRS 1021,
the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial slalements have been prepared to give 8 'lrue and fair, view and have departed from the
Charities (Accounts and Reportsl Regulations 2008 only lo the extent required lo provide a 'lrue and
fair view.. This departure has involved following the Accounting and Reporting by Charities Slalemenl
of Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019
rather than the Accounting and Reporting by Charities.. Slalemenl of Recommended Practice effective
from 1 April 2005 which has since been withdrawn.
Accounting policies
lal Basls of prgparation
The financial Statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair value
through income or expenditure.
The financial slalemenls are prepared in sterling, which is the functional currency of the entity.
{bl Golng concern
The financial slalement$ have been prepared on a going concern basis, as the Trustees believe that
no material uncertainties exist. The Trustees have considered the level of funds held and the
expectetj level of income and expenditure for 12 months from authorising these financial statements.
The budgeted inwme and expenditure is sufficient with the level of r8serv8s for the charity to be able
lo continue as a going concern.
Icl Fund accountlng
Unreslricled funds are available for use al the discrelicn of the trustees lo further any of the charity's
purposes.
Oesignated funds ar& unrestricted funds earmarked by the Iruslees for particualr future project or
commitment.

Lowestoft Charity Board
Notes to the financial statements (continued)
Year ended 5 April 2025
Accounting policies (continu¢dl
Idl Income
All income is included in the statement of financi818Ctivities when entillemenl has passed to the
charity, il is probable that the economic benefits associatell with the transaction will flow lo the charity
and the amount can be reliably measured. The following specific policies are applied to particular
categories of income..
Rentsl income is included when rèceivable.
Investment income is included when receivable.
lel Expendlture
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the slalemenl of financial
activities to which il relates".
expenditure on charitable activities includes 811 costs incurred by a charity in undertaking activities
that furtheT Its charitable aims for the benefit of f£s beneficiaries. including those support costs and
costs relating lo the governance of the charity apportioned to charitable activities.
other expenditure includes 811 expenditure that is neither related lo raising funds for the charity nor
Part of ils expenditure on charitable aclivilies.
All eosls are allocated to expènditure categories reflecting the use of the resource. Direct ￿$1S
allribulable to a single a¢livity are allocated directly lo that activity. Shared costs are apprortioned
between the activities they contribute ta on a reasonable, justifiable and consistent basis.
lfj Investmgnt property
11 Land and buildings are revalued every three years and the aggregate surplus or deficit is
transferred lo the Statement of Financial Aclivilies. Tho amount by which the valuation of individual
properties Is less than their cost and considered to be permanent is charged to the Statement of
Financial Activities.
21 No depreciation or amortisalion is provided in respeel of buildings.
191 Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or
loss.
Ihl Flnanclal Instrum&nts
A financial asset or a financial liability is recognised only when the entity becomes a p8ty to the
conlraclual provisions of the instrument.
Basic financial instruments are initially recognised al the amount receivable or paable including any
related transaction costs, unless the arrangement constitutes a financing Iransaclion, where il is
re¢ognised al the present value of the future payments discounted al a market rate of interest for a
similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration
expected to be paid or received and not discounted.
10

Lowestoft Charity Board
Notes to the financial statements Icontinued)
Year ended 5 April 2025
111 Grants payable
Grants payable are incl￿ded in full in the Slalemenl ol Financial Activities in the period in which
constructive obligation is established.
Rental income
Unrestricted Total Funds Unr&slricted Total Funds
Funds
2025
Funds
2024
General and ground rent
Rental write onslloffsl
78,073
15,3591
70,714
78,073
15,3591
70,714
82,392
82,392
82,392
82,392
Investment income
Unreslricled Totsl Funds Unreslricled Total Funds
Funds
2025
Funds
2024
Bank interest
Other loan interest received
Investment Income
2,567
5,378
40,530
2,567
5,378
40,530
2,082
7,528
39,095
2,082
7,528
39,095
48,475
48,475
48,705
48,705
Expendlture on charltsble actlvltles
Unrestricted Totsl Funds
Funds
2025
Unreslricled Total Funds
Funds
2024
Grants
Transfer to St Margarets PCC
Insurance
Light and heat
Council rates
Support costs
63.894
22.873
2.640
293
63.694
22,873
2.640
293
16,992
32,434
2.532
446
18
52,656
16,992
32.434
2,532
446
18
52,656
59,488
148,988
59,488
148,988
105,078
105,078
Grants paid are for the purpose of providing support to individuals and organisations as cÉetailed in the
Trustees. Report.
11

Lowestoft Charity Board
Notes to the financial statements (continued)
Year ended 5 April 2025
Analysi$ of support costs
Unrestricted
Funds
Totsl 2025
Total 2024
Premises
General office
Governance costs
Management lees
Professional fees
26.745
327
7,998
8,339
16,079
26,745
327
7,998
8.339
16,079
29,901
287
7,650
5,502
9,336
59,488
59.488
52,656
Net Ilossesllgalns on inv&stments
Unreslricled Total Furbds Unrestricted Totsl Funds
Funds
2025
Funds
2024
Gainslllossesl on investment property
Unre8lised Ilossllsurplus on revaluation
of Investments. held for charitable use
92,125
92,125
16,5001
16,5001
1111,1691
119,0441
1111,1691
{19,0441
S7,837
97.837
91,337
91.337
Independent examlnatlon fgos
2025
2024
Fees payable lo the independent examiner for..
Independent examination of the financial statements
7,998
7,650
10. Trustee remunÈratlon and gxpenses and key managemgnt
personnel
No remuneration Dr other benefits from employment with the charity or a related entity were received
by the trustees.
There are no employees and thus no key management personnel and no salaries or wages have been
paid, and no employees received remuneration of more than £60,000 during the year12024.' £Nill.
12-

Lowestoft Charity Board
Notes to the financial statements (continu8dJ
Year ended S April 2025
11. Investment property
Investment
Property
Cost
At 6 April 2024
Revaluations
1.502,859
92.125
At 5 April 2025
D&prociation
At 6 Aprll 2024 and S Aprll 2025
Carrying amount
At 5 April 2025
At 5 April 2024
1.594,984
1.594,984
1.502.859
The fixed assets slated above are used for direct charitable purposes only.
Land and buildings were revalued by the Iruslèes and by East Cornmercial Chartered Surveyors al
July 2025 on the basis of open market value. The historic cost of land and buildings is £586.245
12024.. £588.2451.
12. Investments
Other
investments
Cosl or valuation
Al 6 April 2024
Additions
Disposals
Net cash movernenls
Other movements
1,557,407
250,384
1241,1901
(7,4261
1113,6931
1.445.482
At 5 April 2025
Impairment
At 6 Aprll 2024 and S April 2025
Carrying amount
At 5 Aprll 2025
At 5 April 2024
1,445,482
1,557,407
All investments shown above are held al v81ualion.
The hislori¢ ¢051 of investments is £995,65612024. £974,908).
13. Debtors
2025
2024
Prepayments and a¢¢rued income
Other debtors
296
290,330
1,006
327,790
290,626
328.798
13-

Lowestoft Charity Board
Notes to the financial ststements fconllnu6d)
Year ended 5 April 2025
13. Debtors (continued)
Other debtors include £274:298 12024.. £298,9201 due from the Lowestoft Church and Town
Almshouse Charity, a connected charity, repayable over 25 years. £20,000 is due in less than 1 year,
£254,298 is due in more than 1 year. The total balance includes Interest receivable of £5.37812024".
£7,528) at 20kn on the loan.
14. Credltors.. Amounts falling due within one year
2025
2024
Trade creditors
Accrua15 and deferred income
Sl Margarets PCC
1,926
11,001
22,873
9.478
32.434
35,800
41,912
2025
2024
Deferred ineome brought fotward
Released during the year
Deferred during the ye8r
1.828
(1.8281
3,003
2,302
12,3021
1,828
Deferred income carried fo￿ard
3,003
1,828
Deferred income comprise funds received in advance for ￿nt.
14-

Lowestoft Charity Board
Notes to the financial statements (contlnued)
Year ended S April 2025
15. Anatysis of charitable funds
Unrestricted funds
Transfersl
Gains and
osses
Al 6 April
2024
At S Aprll
2025
Income
Expenditure
General funds
Reserve for general
benefit
Revaluation reserve
2,248,085
119,189
198,9881
24,409
2,292,695
205,067
1,511,167
15Q,00a1
9,149
152,6021
164,218
1.458,565
3.964.319
119.189
1148,9881
119,0441
3,915,476
Unrèstrlcted funds
Transfersl
Gains and
losses
At 6 April
2023
At 5 Aprll
2024
Income Expenditure
General funds
Reserve for general
benefit
Revaluation ￿SerVe
2,143,703
131,097
1105,0781
78.363
2,248,085
192,093
1,511,167
12,974
205,067
1,511,167
3,846,963
131,097
1105,0781
91,337
3,964,319
16. Anaty$l$ of net assets bètwèen funds
As at 5 April 2025
Investment
Property Investments
Nel current Totsl Funds
assets
2025
Unrestricted Incom& Funds
Designated Funds
General Funds
Revaluation resetve
164,216
710,794
184,216
2,292.695
1.458,565
586,245
1,008,739
995,656
449,826
1,594,984
1,445.482
875,010
3,915,476
As al 5 April 2024
Investment
Propety Investments
Nel Current Total Funds
assets
2024
Unrestrlcted Incorne Funds
Designated Funds
General Funds
Revaluation reseNe
205,067
698,986
205.067
2.248.085
1,511.167
601,475
901,384
947,624
609,783
1,502,859
1,557,407
904.053
3,964,319
15

Lowestoft Charity Board
Notes to the financial statements (contlnuod)
Year ended 5 April 2025
17. Designated fund
Reserve for general benefit
2025
2024
Accumulated fund at being of period
Allocation of estate surplus
Nel income l expenditure lor the year
205,067
9,149
150,0001
164,216
192,093
12,974
205.067
18. Related parties
In 2Q13, the charity provided a108n of £315,000 to The Lowesloft Church and Town Estst8 Charity, a
charity which shares the same trustees as this charity, lo fund the acquisition of the Longs Dairy site.
An informal loan was also issued when Lowesloft Charity Board opened a new Separate bank
acccounl and left some of its funds in the charity's bank account. Al the balance sheet dale £274,298
12024. £298,920) was due to the Lowesloft Charity Board. The balance is secured by a legal charge
over some of of the charity's freehold property. The 8nlire amount is repayable by instalmenls over 25
years with interest currently a12¥o.
A grant of £50,000 was paid lo The Parochial Church Council of The Ecclesiastical Parish of St
Margaret Lowestoft in the period for urgent roof repairs, this is a charity which shares some of the
same Iruslees. An additional £22,873 was paid to the charity in relation lo the surplus from the Eslale.