Charlty ieglstratlon number 1047350 (England and Wal•$) Company reglstratlon number 03032531 MIDSTREAM (WEST LANCS> LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 'AEHISLSP* 0911212025 COMPANIES HOUSE A07 #184 MIDSTREAM (WEST LANCS) LIMITED LEGALAND ADMINISTRATIVE INFORMATION Management Committee Robert A. Johnslone PeterA. Atherton Oeborah A. B. Morton (Appointed 3 December 2024) Secretary Mark G. Saxon Chailty number 1047350 Company number 03032531 Prlnclpal address 2 Penrose Place Pimtrx) Skelmer6dalg Lancashire WN8 9PR Rogl$torod offlc• 2 Penrose Place Plmbo Skelmersdale Lancashire 9PR Audltor JS. Audit Lifflrted James House Stone¢ro$s Business Park Yew Tree Way Warrington Cheshire WA3 3JD Bankers The c￿0pOratiVe Bank pl¢ PO8ox 101 18alloon Street Manchester M60 4EP MIDSTREAM (WEST LANCS) LIMITED CONTENTS Page Committee Members. report Statement of Committee Members. responsibilities Independent auditols report Statement of financial activltie8 Balance Jheet 10 Statement ol cash llows 11 Notes to the financial statements 12-21 MIDSTREAM (WEST LANCS) LIMITED COMMITTEE MEMBERS, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Management Committee present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordancè wlth thè accounting policies set out in the notes to the financial statements and comply with the charity's goveffling document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in a¢¢ordance with the Financial Reporting Standard applicaL4e in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019).. Since the charity qualifies as small under section 383 of the Companies Act 2006, the Company Strategic Report required of Medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objoctlves and actlvltl The charity review5 Its 8ims. obl•¢llve$ and activlties each year to help ensure It locuses on Ils Stated purposes. Thè INstees have referred lo the guidance contained in the Charity Commission's general guidance on publlc benefit when reviewing the charity's aims. objectives arsd in plannin9 rts future activities. The objects of the charity are to provide ernploymenl opportunities and to promote the advancement of education, in particular amongst young people and adults wth learning difficulties, physical disabilities and those Suffenng from the negative effects of long term unemployment. By Ihe provlslon of such training facilities the company will enable such persons to acquire and develop vocational 8ki118 which will enhance thelr employment prospect$. The impact of the Charity's work reaches beyond those we help directly and indudes improving the quality of lives by means of respite care, for families and carers. Our work also has a favoufable aeslhelic impact upon the natural environment as a result of our corporatelcommunity landscape gardeninglmainlenance activities and the growinglsupplylng ol plants for both relail and wholesale. The charity's policy is to consult and discuss with employees, through unions, staff countsls and at meetings, matters likely lo affect employees, interests. MIDSTREAM (WEST LANCS) LIMITED COMMITTEE MEMBERS. REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and performance This year has been the 30th year of operation, and has cemented the continuing need for the support seriices delivered al Midstream. Throughout the year. a continued offer of health & social care, vocational training, education and work activities appropriate to each service user's individual need and ability has been delivered. The charity has continued to progress service users towards achieving the Entry Level 'Certificate in Skills for rking Lrfe" awarded by City & Guilds, V￿th additional personal leaming goals planned & delivered to those service users wjth Education, Health & Care Plans IEHCP). The vo¢alional lèarning & assessment of thé qualification is particularly suited for people with additional needs such as learning difficulties, physical disability, sensory impaimient or Deurodiversily. Seryi¢e users are given the QPF)Ortunity to engage in real life working environments in a variety of occupational areas,. these indude.. Horticulture Landscape Gardening and Construction Environmental Conservatlon Retail Business Administration Crafts Catering Hospitality Halr & Beauty Child Care Work experience, gathering work-based evidence, ongoing assessment and portfolio building fomis the key outcomes lor the City & Guilds qualification. Participation in these activlties allows service user$ lo make Informed choices regarding vocational occupations and lo build the skills needed for a successful worklng life. A clear progression roule lo higher level NVQ vocational training is available at Midstream in hair & beauty, business administration and caring for children, The organisation has also maintained "Inveslors In People. status and 'Quality Guild. approval thi$ year. Midstream has made further progress in securing a position of financial slrength to ensure delivery of Midstream's serrfices into the foreseeable future by in¢￿ased se￿iCe users attending. A new refectory building has been completed which has secured the continuation of Midstream's seNlce provision for the long term. Its completion has released additional ¢apacty for service user attendance & will aid in Ihe further development of the service provision within 'Pathways lo Adulthood. increasing attendance by 1 OOA. As we look to the future, the essential outcome for the continued sustainability of the organisalion is not lo be complacent. Tackling a major challenge such as social exclusion demands concerted efforts, Public, private. community and voluntary sector organisations all have a part to play in improving the quality of life of people most disadvantaged in the wortd of work through learning disabilrties and other additional needs. Midstream believes that the more we can work cohesively, the more we will achieve in the future and the more likely il is that barriers to accessing employment 'opportunitles will be broken down for the SO¢iOveconomic good of the client group Midstream Continues lo seNe. MIDSTREAM (WEST LANCS) LIMITED COMMITTEE MEMBERS, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Flnanclal review The net incoming resources for the year amounted to £314,715 and reserves now stand at £5.283.962. The charity has established a good feputation over the years with social workers, carers, teachers, careers officers, etc. Partnerships working vlth public, private and voluntary sector organisalions are es$enlial to delivering a $8Diice vthich meets the complex needs of our ¢lienl group. Combining training with employment with the provision of day care has generated significant income from referring organisalions such as Social Services, privately run residential care homes and special schools. Midstream has benefited from income in respect of contracts secured with referring organisations totalling £2,650.384 (2024.. £2,259,704) included within incoming resources from charitable acts'vilie$. Wth growing emphasis on dire¢t payments, Midstream attracts Servic￿ users from a wlder geographical area including Greater Manchester to the East, Merseyside lo the West and Cheshire to tha South. All are within easy daily travel distance of Midstream. Midstream's trading activities during the year have generated income from sales of goods and sep4ices to the public lotalling £133.094 {2024'. £110.305). included within activities for generating funds. This source of Income conlribules towards Ir8ining m8terlal costs and promotional c05ts that the charity has incurred throughout the financial year. The charity's overall expenditure has increased to £2,500,202 compared lo £2,156,994, reflects'ng the increased charitable acknvity in the year. This year Midstream has invested £902,66012024.' £666.6571 in buildings, plant and equipment and office equipment. In furtherance of the chaflly's alms and objectives the Trustees took a decision in 2021 to construct a new detached bullding for staff and cllent dinlng facilities and additional staff parking. Thls year £773.092 was further inve8t8d for the Construction and Completion of the new building. With contracts secured for the majority of Midstream's activitses into the forthcoming year and beyond, financially the outlook for Ihe luture is satisfadory. 11 is the policy of the charlty that unrestricted lunds whlch have not been designated for a specific use should be maintained at a level equlvalent to a minimum of at least three months expenditure. The Management Committee considers that reseNes al this level wll ensure that, in the evenl of a signifi¢anl drop in funding, they will be able to conlinue the charity's current activities ￿lIe consideration is given to ways in whith addits'onal funds may be raised. This level of reseples has been exceeded throughout the year. The trustees have assessed the major nsks to which the charity 1$ exposed and are satlsfied thal $y$tems are in plaGe lo mitigate exposure to suth risks. Structurn, govomance and management The charity Is a company limlled by guarantee whlch was Incorporated on 13 March 1995 and réglslered as a charity on 20 June 1995. The company is govemed by the Memorandum and Articles of Association vthich establish the objects and powers of the charity. The Management Committee, who are also Irustees and the directors for the purpose of company law, who served during the year were.. Robert A. Johnstone Peter A. Atherton Deborah A. B. Morton (Appolnted 3 December 2024) MIDSTREAM (WEST LANCS) LIMITED COMMITTEE MEMBERS. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 None of the Management Committee has any beneficial interest in the company. All of the Management Committee are members of the company and guarantee to contribute £1 in the event of a winding up. Under th8 Artlcles, the membefs of the Management Committee are elected at the Annual General Meeting lo serve a perlod ol three years. subject to ratification at each Annual General Meeting. The Management Committee meets regularly throughout the year to review the strategy, operations and perfomiance of the Charity. The Management Committee is fvlly responsible for ihe decision making process operated by lh• Chartty. The day to day responsibility of managing the Charity rests wlth the Chief Executive Mark G. Saxon vtho is responsible for ensuring the Charity delivers the services specified and that key perfomance indicators are met. The trustees are famlll8r wllh the pra¢ti¢al work of the charlty and thelr r88ponsibllitle8 and upd81e tralnlng Is provided when considered necessary. Additionally, new trustees wlll bè provided appropriate Iralnlng and induction. D18abl•d ￿￿on5 Applications for employment by dlsabled per80n$ are always fully Considered, bearing In mlnd the apiitud88 of the applicant concemed. In the event of members of staff becoming disabled. every effort is made lo ensure that their employment within the charity continues and that the appropriate training is arranged. 11 is the policy of the charity Ihal the training, career development and promolion of disabled persons should, as far as possible, l)e Identical to that of olher employees. Ernploy•• Involv•m•nt The charity's policy is lo Consult and discuss vAth employees, through unlons, staff eounclls and at meetings. matters likely to affect employees, interests. Inlormatlon on matters of concern lo employees is given through information bulletins and reports whlch seek to achieve a common awareness on thè part of all employees of the financlal and economlc factors affecting the 9roup's performance. Dlsclosure of Inlomiatlon to audltor Each membei ol the Management CommSttee ha5 conflmied that there is no Inlom)ation of which they are aware whi¢h is relevant to the audit, bul of whlch the audltor Is unaware. They have further confirmed that they have taken appropriate steps to identify such relevanl infomation and to establlsh that the audltor 1$ aware of su¢h infomiation. The Committee Members, T•port was approved by the Board of Management Committo•. Robert A. Johnstone Difeclor Dated.. 25 November 2025 MIDSTREAM (WEST LANCS) LIMITED STATEMENT OF COMMITTEE MEMBERS. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Management Committee is responsible for preparing the accounts in a¢¢ordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requlfes the Management Committee to prepare accounts for each financlal year which give a true and fair view of the state of affairs of the charity and of its Incoming resource$ and application of resources. including its net income and expenditure for the year. In Preparing these accounts, the Management Committee is required to: Select sullable accountlng policles and then apply them eonslstently; - make judgements and estsmates that are reasonable and prudent; state ￿ether applicable accountlng standards have been follow8d. subject io any malerlal departure$ disclosed and 8xplaln•d In the aGrounts: and - prepare the xcounts on the going concem basis unle55 it is inappropriate lo presume that the charily will continue in operation. The Manag8menl Committee Is responsible lor ke8pSng proper a¢¢ounting records that disclose with reasonable accuracy at any lime the finanri81 position of the charity and which enable il to ensure that the accounts comply with the Companies Act 2006. It is also responsible for safeguarding the as$els of the charity and hence for taking reasonable steps for the prevention and delection of fraud and other irregularities. MIDSTREAM (WEST LANCS) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MIDSTREAM (WEST LANCS) LIMITED Oplnlon We have audited the financial statements of Midstream (West Lancs) Limited (the 'charity') for Ihe year ended 31 March 2025 vthich comprise the statement of financial actNilies, the balance sheet, the statement of cash flows and the notes lo the financial statements, including a summary of significant acwunting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. includin9 Financial Reporting Standard 102 The Financial Reporting Slandard applKable in the UK and Republic ol lrnland (United Kingdom Generally ArKepted AccouDbng Practice), In our opinion, the financial statements.. give a true and fair view of the state ol the ¢haritabl• company's affairs as at 31 Marth 2025 and of its incoming resources and appliGation of fex)urce5, induding Ils income and expendlture, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practs'ce.. and have been Prepared in accordance wtth the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing {UKI {ISAs {UKI) and applicable law. Our responsibilities under those standards are further described in the Audilorfs rnsponsibililies for th8 audit of the fin8nGial statements section of our report. We are independent of the charity in a¢¢ordance with the ethical requirements that are relevant lo our audit ol the financial staternents In the UK, induding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities In accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriale to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have Concluded that th• Committee Members, use of the going ¢oncem basis of accounkn'ng In the weparallon of Ihe financlal statements is approprfale. Based on the work we have performed, we have nol identified any material uncertainties relating to event$ or conditions Ihat, individually or collectively, may cast significant doubt on the charity's ability to Continue as a going concem for a penod of atloast ￿e1ve months from when the finanGial stalaments are authorised for issue. Our responsibil'ties 8nd the responsibilities ol the Management Commlttee ￿th respect lo going concern are described in the relevant seciions of this report. Othor Informatlon The other infomation comprises the information included in the annual report other than the financial statements and our auditorfs report Ihereon. The Management Commiltee are responsible for the other infomiation contained within the annual report. Our opinion on the financial statements does not cover the other information and, except lo the extent otherwise explicitly Staled in OUT report, we do not express any form of assurance conclusion Ihereon. Our responsibility 15 to read the other information and. in doin9 so, consider whether the other information is materially inconsistent with ihe financial statements or our kn¢)wledge obtained in the ¢ourse of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemine whelh&r this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed. we condude that Ihere is a material rnisststement of this other infornation, we are required lo report that fact. We have nothing to report in this regard. Oplnlons on other matters pros¢rlbed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of our audit.. the information given in the Committee Members, report for the financial year for which the financial statements are prepared, which indudes the directors, Teport prepared for the purposes of company law. is consistent with the financial statements.. and Ihe directors, report included wthin the Committee Members, report has been prepared in accordance viilh applicable legal requirements. MIDSTREAM (WEST LANCS) LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF MIDSTREAM (WEST LANCS) LIMITED Matters on whlch ￿ are roqulred to report by ox¢eptlon In the lighl of the knowledge and understanding of the charity and Its environment obtained In the course of the audit. we have not idenlified material misstatements in Ihe direGlors' report induded within the Committee Members, report. Vle have nothing to report in respect of the following matters in relation to *fiich the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or retum8 adequate lor our audit have not been received from bran¢hes not visited by us,. or the financial statement5 are not in agreement with the accounting records and retums- or certain disclosures of trustees. remuneration specified by law are not made., or we have not received all the infonnation and explanations we require for our audit., or the Management Committee wer8 not entitled to prepare the financial statements in accordancé with the small companies regime and lake advantage of the small companies, exempllons In preparing the Committee Membor$' report and Irom the requirement to prepare a strategic report. Re$pon$lbllltles of Management Commltto• As explained more fully in the statement of Committee Members, responsibilits'es, the Management Committee, who are also the directors of th8 chanty for the purpose of company law, are responsible for the preparation of the financial slatèmenls and for being satisfièd that they give a true and fair view. and lor such inlemal control as the Management Committee determine is necessary to enable the preparation of financial statements Ihat are free from material misslalement. whether due to Iraud or error. In preparlng the finoncial statements, the Management Committee are responsible for assessing the charity's ability lo continue as a going ¢on¢em, disclosing, as appli¢able, matters related to going concern and using the going concem basis of accounting unless the Management Committee either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but lo do so. Audltorfs r•sponslbllltle$ lor Ihe audft of the Ilnanclal statgmonts Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to Iraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will a￿ayS deteGt a material misstatement when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to infiuence the economic decisions of users taken on Ihe basis of these financial stalemenl8, Irregularrties, including fraud, are instances of nonwcompliance wrth laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect material misstatements in respect of irregularities, including fraud. The extent to whi¢h our procedures are Capable of detecting irregularities, induding fraud. is detailed below. Based on our understanding of the ch8ritable company and sector, we identified Ihal the principal risks of non- compliance ￿th laws and regulations related to. but were not limited lo, the Companles Act 2006, the Charities Act 2011, employment. pension and health and safety le9islation and we considered the extent to bvhich non- ompliance might have a malerial effect on the financial statements. We also considered those laws and regulalions that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunrties for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the prinapal risks were related to management bias in accounting estimates and judgements and the risk of fraud in revenue recognition. MIDSTREAM (WEST LANCS) LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF MIDSTREAM (WEST LANCS) LIMITED Our procedurn8 to resporKI to risks identified included the followin9: reviewing the finanaal statement disclosures and tests'ng to supporting documentats'on to assess compliance ryth provlslons of relevant laws and regulations desoibed as having a direct effect on the financial statements: enquirin9 of management about adual and potentlal litigation and clalm$. their pdicies and proGedures to prevent and detect fraud as w911 as whether they have knowledge of any actual, suspected or alleged fraud,. performing analhical procedure$ to idents'fy any unusual or unexpected relationships that rnay indicate risks of mater181 mlsstatement due to fraud., • readlng mlnutes of meetlngs of those charged wlth governance., obt￿.nin9 an understanding of provisions and holding discussions managem•nt to understsnd the ba$1$ of recognition or noNecognition of provisions., and in addressing Ihe risk of fraud through management override of controls.. testing the appropriateness of journal entfles,. assessing vthether Ihe accounting estimates. judgements and decisions made by management are Indicative of a potential bias,. and evaluatlng the business rationale of any signiflcant transactions that are unusual or outslde the norrnal cour88 ol bU￿ne$s. We also communicated relevant identr'lled laws and regulallon8 and potentlal fraud risks to all engagement team members and remalned alert to any indicatians of fraud or nonwcornpliance *ith laws and regulats'on8 through¢yut the audiL There afe Inherent limitation8 In ow audit proceduw do8cribed abov•. Tha more removed that laws and regulatsons are from financi81 transactions, the le85 likely It ig that we would become avtare of nOn-com￿lenCe. Auditing stsndards also limlt the audit procedures raquifed to Identsfy nonThcompllance wlth laws and regulaUon¥ to enquiry of the directors and other mana9ement and Ihe Inspection ol regulatory and legal correspondence, if any. Material misstatements that wise due to fraud can be harder to detect than those that arise from ern>r as they may involve deliberate concealment or collusion. A further d•8crlption ol our re8pongibiliti88 18 availabl• on tho Financial Roporting Council'• website at: http8.'11 w*w.frc.org.ukJauditorsrwon3lbilitie8. This de8crlptson forrns part of our auditorfs report. Use of our report Thls re￿ is made solely to the charitable company'$ members, as a body. in accordance With Chapter 3 of Part 16 of the Cornpanles Act 2006. Our audit work has been undertaken 80 that we might state to the charitable cornpany's members those matters we ar• requlred to state to them In an auditor's report and for no other purpo88. To th• fulle8t extent pemltted by law, we do not accept or assume respongibility to anjono other than tho tharitable company and the Charitable company's member8 as a body. for our audit work, for this report. or for the opinion8 we have fomied. J f. A L(*i&E P•l•r Alkln8on F.C.A. (S•nlor Statutory Audltor) For and on behalf of JS. Audit Limited, StatutoryAudltor Chartered Accountants James House StoneGross Business Park Yew Trae Way rrin9ton Cheshire WA3 3JD Date.. O4￿eC.202S.. MIDSTREAM (WEST LANCS) LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestri¢led lunds 2025 Unrestrlcted funds 2024 Notes In¢ome and endowments from: Donations and legacies Charitable activities Other trading activities Inveslfflents Other income 1,182 2,650,384 133.094 27,370 2,887 1,119 2,259,704 110.305 39,236 8,182 Total Income 2,814.917 2,418.S46 Expendlture on: Raising funds Charitable activitj'es 103,752 2,396.450 99.862 2,057,132 Total expondltur• 2,500,202 2,156,994 N•1 Incomo and movom•nt In fund• 314.715 261,552 Re¢oncillatlon of funds: Fund balances at l April 2024 4,969,247 4,707.695 Fund balances at 31 March 2025 5,283,962 4.969.247 The statement of financial activities indude$ all galns and losses recognised in the year. All income and expenditure derive from continuing activities. MIDSTREAM (WEST LANCS) LIMITED BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notès Flxed assets Tangible assets 14 3,231.311 2,446.338 Current assets Stocks Debtors Cash at bank and in hand 1S 18 16,384 236,881 1,904,130 15.720 283,252 2,295,819 2.157,395 2,594,791 Credltors: amounts falllng du? wlthln one year 17 (104,744> (71,8821 Net current assets 2,052.651 2.522,909 Total a8o•ts lo•$ currenl Ilabllltles 5,283,962 4,969.247 Income funds nr General unrestricted funds Revaluatlon reserve 19 4,783,963 499,999 4,489,248 499,999 5,283,962 4,969,247 5,283,962 4,969.247 The notes on pages 12 10 21 form part of these financial statements. These financial statements have been prepared In accordance wlth the provlslons applicable to companles subject to the small companies re9ime. The financial statements were approved by the Management Committee on 25 November 2025 Robert A. Johnstone Trustee Company reglstiatlon number 03032531 10- MIDSTREAM (WEST LANCS) LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2026 2024 Notss Cash flows from operatlng activities Cash generated from operations 21 483.601 248,034 Investing a¢tivitie$ Purchase of tangible fixed assets Interest received (902,660) 27,370 (666,657) 39.236 Net cash used In Investlng •ctlvltl•s 1875.290) {627,421) Net cash us•d In financlng actlvltles Net d•creas• in ¢a$h and cash equSval•nts (391,6891 (379,387) Cash and cash equivalents at beginning of year 2,295,819 2,675,208 Cash and ¢ash oqulvalents at end ol y•ar 1,904,130 2,295,819 11 MIDSTREAM (WEST LANCS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Ac¢ountlng pollcl•s Charlty Inlormallon Midstream (West Lancs) Limited is a pnvale company limited by guarantee incorporated in England and Wales. The registered office is 2 Penrose Place, Pimbo, Skelmersdale, LanGa$hire, V4N8 9PR. 1.1 Ac¢ounting conventlon The accounts have been prepared in accordance wth the charrty's Memorandum and Artides of Association, the Companies Act 2006 and 'Accounlin9 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 IFRS 102}" effective 1 January 2019. The charity is a Publlc Benefit Ents'ty as defined by FRS 102. The financlal statements are prepared In sterling. which Is the functlonal currency ol Ihe charty. Monetary amounts in these financial stalemenls ar¢ rounded to the neare81 £. The accounts have been prepared under the historical cost convention, modified to include freehold land & buildings at revalued amounts. 1.2 Golng concern At the lime of approving the financial slalements, the Management Committee have a reasonable expeclatson that the charity has adequate resources to continue in operational existence for the foreseeable fijture. Thus the Management Committee continue to adopt the going concem basls of accounting in preparing the financial statements. 1.3 Charltable fund• Unrestrlcted lunds are avallable for uso at the discretion of the Management Committee in furtherance of Ihelr charitable objectives. Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without fijrther specified purpose and are available as general lunds. 1.4 In¢omlng r•8ourc•s Income is recognised when the charity is legally entitled lo il after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be Teekived. Cash donations are recognlsed on receipt. Other donations are recognised once the charity has been notified of the donation. unle$5 performance Conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant Is recognised at the time of the donation. Incoming resources from commercial activities including th8 supply of plants. garden furnitur8, fencing, gardening seNices and from Ihe tea shop are included when re¢eivable, n8t of VAT. Turnover is measured at the fair value of the considerats'on received or ￿ceivable and represents amounts receivable for goods and seNices provided in the nomial course of business, net of discounls, VAT and other sales related taxes. 1.5 Resources expended Expenditure is recognised once the￿ is a legal or constructive obligation to transfer economi¢ benefit to a third paty. it is probable Ihat a transfer of economic benefits will be required in settlement. and the amount of the obligation Gan be Measured reliably. 12- MIDSTREAM (WEST LANCS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcies (Contlnued) Expendrture is classified by activity. The ¢osls of 8a¢h activity are made up of the total of direct costs and shared wsls, including support costs involved in undertaking each aclivity. Dired costs attributable to a single activity are allocated directly lo that activity. Shared costs which contribute to more than one activity and support costs which are not attnbulable to a single activity are apPO￿oned belween those activities on a basis consistent wrth the use of resources. Central slaff costs are allo¢at8d on the basis of time spenl. and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assats Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuth'on, net of depreciation and any impairment losses. Depreciation 1$ recognised so as lo write off the cost or valuation of assets18SS their residual values over Ihelr useful lives on the following bases.. Freehold land and buildings Plant and rnachinery Computers and office equipment Motor vehicles 2 . 12.5•A per annum on a straight line ba$1$ 150h per annum on a reducing balance basis 330/0 per annum on a reducing balance basis 25Qh per annum on a reducing balance basis The 9ain or loss arising on the disposal of an asset is determined as the difference be￿een the sale proceeds and the carrying value of the asset, and 18 recognised in the statement of financial activities. 1.7 Impalrnient of flxed assets At each reportin9 end date, the chairty reviews the carrying amounts of its tangible assets lo determin whether there is any indication that those assets have suffered an impairment loss. 11 any such Indicallon exists, the recoverable amount of the asset is estimated in order to determine the extent ol the impairn)ent loss (if any). 1.8 Stocks Stocks are staled at the lower of cost and estimated sellin9 price less costs to complete and sell. Nel realisable value is the esllmated Selling price less all estimated costs of completion and cosls to bo incuffed in marketing, selling arKI distribution. 1.9 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held at call with banks. other short-tefm liquid investments with original rnaturities of three months or less, and bank overdrafts. Bank overdrafts are shown wilhin borrowings in Current liabilities. 1.10 Flnanclal Instruments The charity has elècted to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 'Other Financial Instruments lssue$' of FRS 102 to all of Its finanu81 instruments. Financial instruments are recognised in the charity's balanc8 sheet when the charity becomes paty to the rtractual provisions of the instrument. Financial assets and liabilits'es are offset, the net amounls presented in the financial Statements, when Ihere is a legally enforceable righl to set off the reGognised amounts and there 1$ an intention to settle on a net basis or to realise the asset and settte the liability simuttaneously. 13- MIDSTREAM (WEST LANCS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcl•8 (Contlnued) Baslc flnanclal assets 8asic financial assels. which indude debtors and cash and bank balances. are initially measured at transaction price including transacts'on Costs and are subsequentty carried al amortised cost using the effects've interest method unless the arrangement constitutes a financing transaction, ￿￿ere the transadion is measured al the pres8nt value of the ftjlure receipts discounted al a market rate of interest. Finanaal asset8 dassified as receivable wlthln one year are not amortised. Derecognldon ol Ilnanclal assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the chanty transfers the finanual asset and substantially all the risks and rewards of ownership lo another entity, or if some significant risks and rewards of ownership are retained but control of ' the asset has transferred to another party that is able to sell the asset in Its entlrety lo an unfelaled third party. 8aslc Ilnancial liabllltles Basic financial liabilities are initialty recognised at transaGtion price unless the aThangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities dassified as payable within one year are not amortised. Debt in8lruments are subsequently carrled at amorts'sed c081, usin9 the effectlve interesl rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as Current liabilities if payment is due within one year or less. If not, they are presented as non At 31 March 2025 4,052,950 297,882 162,552 272,901 4,786,265 Depreclallon and Impalmient At 1 April 2024 Depreciation tharged In the year Eliminated in respect of disposals 963,129 60,559 196,662 15.792 (4,390} 127,270 11,759 154,595 1,441.656 29,577 117,687 14,390> At 31 March 2025 1,023,688 208.065 139,029 184,172 1,554,954 Carrylng •mount Al 31 March 2025 3,029,262 89,797 23,523 88,729 3,231,311 Al 31 March 2024 2,316,729 54,242 19,342 56.025 2,446,338 The freehold land was revalued in the amount of £500.000 by a fimi of independent Chartered Surveyors. Parkinson Commercial Propety Consullanls, on 12 January 1996 on the basls of an open market valuation for existing use. The valuallon has not been updated and the trusteeg have adopted the transitional rules of FRS102 and treated thls as the deemed cost of the land. The fréehold land valued at £500,000 is not depreciated. Al 31 March 2025, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impaimient losses, their canying amount would have been approximately £2,529,262 (2024 £1.816,7291. 16 Stocks 2026 2024 Finished goods and goods for resale 16.384 15,720 19- MIDSTREAM (WEST LANCS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 16 Debtors 2026 2024 Amounts falllng due wlthln on• y•ar: Trade debtors Other debtors Prepayments and accrued in¢ome 194,265 185,606 57.577 40,069 42,616 236,881 283,252 17 Credltors: amounts falllng du• wSthln one year 2026 2024 Other taxallon and social $8curlty Tradè creditors Accruals and deferred income 31,385 52,617 20,742 27,750 38,475 5,657 104,744 71,882 18 R•tlr•m•nt b•n¢flt 8ch•m•• 2025 2024 Defined Contrlbutlon schem•8 Charge to profit or loss in respect of defined contribution 8¢hemes 100,813 103,793 The charlty operates a deflned contrfbutlon pension scheme for 811 quallfylng employees. The assets of the scheme are held separately from those ol the charity in an independently administered fund. 19 Unrestrlcted lunds The unrestricted funds of the charity Comprlse the unexpended balance$ of donalions and grgnls which are not $ubj8et to specific Conditions by donors and grantors as to how they may be used. These include designated funds which have b8an set aside out of unrestricted funds by the trustees for specific purposes. At 1 Aprll 2024 Incomlng Resources At 31 March resources expended 2026 G8n8ral funds Revaluats'on resep 4,469.248 499,999 2.814.917 (2.500,202) 4.783.963 499,999 Previous year: At 1 April 2023 Incoffling resources Resour¢es At 31 March expended 2024 General funds Revaluation reserve 4,207,696 499,999 2,418,546 {2,156,994} 4,469.248 499,999 -20- MIDSTREAM (WEST LANCS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Relatsd party transactlon• Remuneration of key managoment parsonnel The remuneration of key management personnel was as follows.. 2026 2024 Aggregate Compensation 113.249 103,671 21 Cash generated from operallons 2025 2024 Surplus for the year 314,715 261,552 AdJu$th)gnts for: Investment income recognised in statement of financial activities Depreciation and impairrnent of tangible fixed assets (27,370) 117,687 (39,236) 96,177 Mov•m•nts In worklng capltal: (lncrea￿)Idecr8aS8 in stocks Oecreas•l(increas8) In debtors Incfease in creditors . (664) 46,371 32,862 11.556 (91,816) 9,801 Cash generat•d from op¢ration8 483,601 248,034 22 Analys18 of Changeg In not d•bt The Charity had no debt during the year. 21