Reglstered Number: 4314538
Charity Number:
1090558
LOOE DEVELOPMENT TRUST
TRUSTEES ANNUAL REPORT
AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST MARCH 2025
INDEX:
Pa
Contents:
Legal and Administrative Infomiation.
Company Advisors.
Governing Document and Objects.,
Report of the Trustees;
10
Report of the Treasurer
11
Independent Examiner's Report;
12-13
Statement of Financial Activities.,
14
Balance Sheet.
15-21
Notes to the Financial Statements.
Oakleys - Accountants
117 North Hill
Plymouth
PL4 8JY

00
RU
LEGAL AND ADMINISTrA
INFO
Charfty Name:
Looe D8velopmenl Trust
Company Numb•r:
4314538
Reglstered Charlty Numb•r
1090558
Flnanclal Perlod Beglnnlng:
1st Aprfl 2024
Flnancl•l Perfod Endlng:
3181 March 2025
Charlty's Reglstor•d Offlc•:
Mlllpool Cenlre
The Mlllpool
West Looe
Comwall
PL13 2AF
Tr￿￿0$ l Dlr•ctorn:
Mr. Malcolm Garrfngton
Appolnted 10th June 2006
Mr. Robert L￿8
Appolnted 18t Aprfl 2023
Mr. Mlch881 Macartney
Appolnted 17th Aprll 2014
Mr. Juslln Spreckley
Appolnted 18th Novembar 2003
Mr. Amiand Toms
Appolnted 5th May 2004
Mr. Colln Tregear
Appolnted 201h May 2009
Mrs. Klm Spencer
Appolnted 18th February 2020
Chalrnmn:
Mr. Ju8lln Spreckloy
Appolnted Chalmian 2nd February 2004
8•crotary:
Mr8. Elalno Wam8
Mr. Robert Lew18
Appolnted 1 Aprll 2023

LOOE DEVELOP
us
COMPA
VISORS
Bank•r8:
Bardays Bank PLC
Lloyds Bank PLC
8ollcltors:
Coodes
10 Wlndsor Place
Uskeard
Comwall
Surv•yorn:
TIM Deakln
5 Hannalore Lane
West Loo8
Comwall
PL132DT
In*urnn￿ Brok•r8:
Trelawngy Insurance Solullon8
Gables
Brenffields
Polperro
Comwall
PL13 2JJ
Accounlants:
Oakl8y8 Accountants
117 Norlh Hlll
Ptymoulh
PL4 8JY

LOOE DEV
OPMENT TRUST
GOVERNI
UMENTS AND OBJ
Govwnlng Document
Th8 LI￿¥ Dovelopment Trt￿t was In¢rypornt•d ty the Regbtrar ol Companlos lor England and Wales as a
Prlvate Umll•d Company on 31sl Ociob•r 2001. It Is a Company Llmll•d by Guafanlee and not having a
Shale Capllal. The C￿￿panY Is govomed by its Memorandwn and Arlicjes ol A8socbtlon, and these are
set out In accordance wdh the Companles 1985 and 1989. The M8morandum of Associaiion w8$
slgmd and sealed on 51h July 2001, and Ihe ArlKles ofAssodallon signed and sealed on 19th October
Ar•a of B•ngfit
Tho Chaflty * for the benefit of th0￿ Ilvlng and l or WOTklng In th• parish of Looe and ￿nIlguI)us P3Tlshos
(horelnafter called Ihe Area of B8n•fil")
ObJoGts of Iho Charfty
1 To advance educatlon and leamlng. Indudlng tralnlng In skllls rnlovanl lo securkng employmenl lo
relleve Ilnan¢lal need. hardshlp, dlstress and sld(ness among those Ilvlng wlthln th8 ￿ea of BenefiL
2 To pr88erve. protect and •nhon¢• In 8ny way for tho b8nefii of Ihe publ1& amenltlos In¢ludlng tho
bulldlngs or features of hlsloTlc, arch51•thral or n8iwal Internsl vAthln the Area of 8enefit.
3 To provkle faThlibes for wbllc recreallon or olher lelsure Ilme occupatlon In the Inlerests of sodal
welfare. wllh the objecl ol Improvlrw the condlllon8 of Ilfe for those fwln9 or %VTking in Ihe kna of
BgnofiL
4 To advanc• any othor ¢harftabl8 purpos8 or pwposes for Ihe benefit of Ih080 Imng or worklng In Ihe
Area of BenefiL
Stat•monl of Inienllon
The Chodty wlll ￿ nty￿a￿ In polS11¢5, non4ectsrlan In rellplon and wll not dlscrlmlnale on the grounds of
rnce. colour. natlonalSty, etlmlc or raclal orfgln. se& sexual orfentatlon. nmrital siaius. 898. rdi9iOD. poIIUcal
bellef. or other oplnlon.
Acllvltlos of th• Charfty
Tho Charfty m8y do anythlng lawlul tho1 may bts nKas$ary In ¢Mler lo promote Its Objects Includlng Ihe use
of the followlng po*w8:
Sublect to ary ¢I￿￿nI requlred by Iw•, lo ralso lunds and borrow monles. Invlte and rnc8fve
¢onirllxrtlons from anyon8 through donakns or sutscrfpllons, or the Nnnln9 of a lotlery or In any
olhor woy.
Subject lo complan¢o wllh any slalutory regulalbns, lo undertake tradlng athllles orty In so lar
as the actlvlll•s are exerclsed In the cours• of the aclual carrying oyl of a prlmary ob￿¢1 of Ihe
Charfty,
Sublect to any consents by law.
To purchase tske on lèase or In exchango or hlre orotlk9Th*1s• a¢qulre any land or propgty
of any sorL
To er•¢t construcl lay down enlawo alier malntsln Improve ¢hange and manago or
eontnbute lo or subsldlse the erectlon construcllon malnl•nance of any land PTopety
ways plant and machlnery.

Pa
LOOE DEVELOPME
T TRUST
GOVERNIN
UMENTS AND OB
ECTS
CONTINUED
To und6rtak• any dwrhable Iwst rx other charllable 8gency IwsIn￿, whlch may prrynoi• ary or
all of Ihe ObJecllv•s of Iho Charfty.
To esiabllsh. CO￿perate wllh 8uppwI, or Joln wlth other dwrfli•s. voluntary bodles and statulory
authoTIUe$ operatlng In furtherarKe of Iho Objects of slmllar charitable purposes and to exthanga
advlce and Infommllon wlth thwn.
To pwchas• or olhoThYlse acqulre any of tho property assets and Ilabllill•s of any of the charit￿$
VO￿nIary bodles or stalulory authorttles wNh whlth the Charlty Is aulhorfsed i0￿1n and perfom) any
ofthelr engagements.
To transfer any of th8 Charws propety. 8ssets. li8bllltles and eTvJagements to any of the chaWs
volunlary bodles or stalulory authorflles wllh whlch the Charfty Is 8ulhorfsed lo Join.
To eslabllsh. promole. and otherwls• a88151 any Ilmlted company or companlos for the puwe of
acqulrfng any prop8rty, or of furthorfn9 In any way the Owcls of th• Charfty through tradlng, and
lo eslabllsh Ihe same •llh8r as wholly owned subsldlarfesof the Charfty orjolntly wlth olher pernons,
companles and govemment departments or 10¢818uthorftles, and to finance the $8m8 If the
Tn￿lee& See fit by way of secured loan or Share $Ubs¢r1￿ on commerclal lern￿ provlded Ihat
the Chorlty shall prol•8slonal advke before finanrjng such companles.
To prov￿8 educatlornl tralnkng, advlsory c4yJnselllng. consuiiancy. admlnlstrauve. profosslonal and
technologlcal support S•Tvices in fvrtherance of the Objects of the Charfty.
10
To PTomole. erKour8ge or urKlertake re8eawch and dl¥8emln8le Iho result8 of 8uch.
11
To produce, prlnL pubwsh, suppty. Mll or deal In anyihlng In wrftton. oral ty vbu81 medl8.
12
To opon and operate bank accounts 8nd other banklng fa¢lltles and lo draw. make. 8ccepL
endorso, ntyotkie. dIs¢oW￿ and exe￿rte sv(wnlssory nole8. bllls of oxchango, ch8qu88 and othor
nogotlable In8lNments.
13
Subjecttothe wovlslons ofclauses 6 and 7 hereof. loemploy and pay employees, officern, swvants
and professlonal or other advw5, and to make all re&8onable and noc&8s8ry provi$lon for the
paymenl of penslons and supgrannuallon to or on behall of employ￿. offlceT3 and servants and
Itdr wlv88, husbands and other dep￿dants.
14
To pay ol Ihe fund8 of the Charfty, all tho expenses. costs and charges ol and inddenlal lo the
fmatlon and reglstratlon of tho Ch*.
U60 of Incom• and Pmp•rty
The Income of tho Charity Whences0￿r derlv8d. shall be applled solely Iow8rds the promokn of th•
Objects oftho Charlty and no part shal be Pa￿ ortransfeThed dlr•cty or Indlrectly tyway of dfvtdend. bonus
or olherwlse ty way of profit Io 8ny member of the Chwity. and Twstee appdnw to any Offi￿ of Ihe
Charfty shall bo p8ld by salary or fees, Of rKefve any remunernllon or other benefil In money (v mone￿$
worlh Irom the Charty, PROVIDED THAT nolNng In thls documenl shall prevenl rea80nable and proper
payments mado th good falth.

OOE DEVEL
REPO
TOFTHE
TRUST
EES
The Tr￿1888, who are 8180 dlrectord of the charfty for the purpose8 of Ihe Companle8 Acl, 8ubmFt thelr
annual rnport and th• flnandal 8lalemenls for Ihe year ￿ed on 3181 March 2025. The T￿￿1883 hov8
adopted th8 Pfovtslons of the Slalemenl of Racommended Pracuca SORP (FRS 102) (offectlv8 1 January
2022). "Aecounllng and Reportlrva by Charftles". in accorda￿ wlth thg Charilles Acl 2022 as amonded on
14 June 2023, In preparSng the annual report and finandal Statements of Ihe L*w￿y.
The charlty wa8 Incorwatod on 3181 Oclober 2001. and tho r618vw* meM(nn￿rn and ArOd88 of
As8oclfidon of tho i*wlty arn referred to on pops 310 4 01 th• rep
On 4th December 2024 M was resofved al tha TNsf8 AGM that the fflaxlmum number of Tr￿leaS allowed
under Arflcle 14.1 of the Trusf8 Artlcl88 be rai8od from 88ven (7) lo nlne (9). was a* by
Companles Hou88 on 19th 2024 and the Chaflty C4)mmls81on on 10th DoGomber 2024.
Approval from tho Charfty Commts8lon wa8 wht to 8llghty whjen thg ol ben6fi1 kn paragraph 3 01 th•
Tru8t'8 memorandum by amendlThJ tho wtyd "o7nttguou8" to "surroundlng.. Th1• was approved under
8198(2)(a) on 5th March 2025. It was accep￿1 by Cwanlej Hou88 on rJwé Aprll 2025, followlng tho
pa8slng of a rwc4utlon on 911 I>rf1.
R•vl•w of actfvlilm and futur• d•v•lgpm•nts
Th• Flnandal Stat6m•nts lor Iho year •Trd￿ 31sl March W25. ¢¢¥nprts• th• Slalement ol Flnanclal
A¢lfvitl￿, Balane• Shwl and related note8, aro 881 out on pages 11 to 21. A summary of the Ilnanclal
rn8u118 and tho work of tho chadty arn Sel oul b81(hY.
Tru•t publkatlms
(SLwpothg ObJe¢l 2 01 tho Tntyl as d•l•l•d above)
The Trust publbhe8 "Loo• Conununlty N•wJ." Thli onlin• wbllcatkn (pap8rfMs Slnce lh• COVID
pandamlc) covéra thè parfsh•s of Lo￿, Pdynl and Dulo• and atso contalng Loo8 T(r*n N6w8. The
Trust ￿eWed wholhor to resume prOnOng a hard Copyi bui declded that for a numb6r of reason8. Includlng
costs. dlstrlbullon and value money.11 w)uld remaln onllne only. Looo Ccrfnmunlty Ne￿ h d•81on•d
and prepared ty vdunlew8.
L008 Dov•lopment TN8t has undartak•n th• folTrMng prnJocl6 kn tho IMI y•¥ kn 8uppNi of Its obJ8th88
In faclitallon. lund holdlng and provtylm for.
Mllpool Centro
Enlewwlse Hous•
Moor to Sea ProJocL Indudlng Smugglws Way
We kn OfThls Place f88tival
Looe Deffl)rllator Appeal
The ￿e•l8d Swls Faclffity (Skaieboard Path) at Loo8 (Plamkng Plwe)
Tho L(X￿ Chtstrnas Ughts and Fe8Uvals
Fosllval of Words
May Fayrn

LOO
EVELOPMEKr
RT OF THE TRUS
CONTINUED
Mlllpool C•ntr•
(Supporflng ObJe¢ts 1 & 3 of Itk9 Trust as delallod above)
The Centre Is a quallty commwilty sp3ce lor 811 ag• groups 01 th8 Mmmunlty and ha8 be8n opon slnce 10
June 2013. The Centre undertook preservalk￿ and relurt)Ishmenl of the extenslve exlethy woodwork
dwln9 thg r•portlng perlod.
The dwllenge remalns to m8k• the Centre sell-SU$talnlng whllsl de15veTlng Its core benellts to tho
communlty. It conlhNMs Io 8eGwe a good range of l¢Jcal dubs and actMlle8. The Centre Is well known as
a venue lo hold locol even18; tt Is also by Col￿all Coundl and the local educatlon and health
aullwrftles. Th• C•ntr• achlM a sallsf8ctory Income. INA11 doos nol Cover Its ovetheads, whlch are
subsldlsed by Ihfr Trusl, from Enlerprtse How rental Income. whl¢h gfven Iho Increase In undorfylng
Infiatlon and costs slrKe 2021 Is no longer meellng Iho dellclL The1Sft Is rK￿ du* major refurblshmenl at
considerable cosL Casual space lor office use Is £13 per hour.
The IntrOdU￿1¢n of ovenlnp (post 6wn), daylbme and we8k•nd car parklng charges at tho htghesl band by
Comwall Coundl In May 2024. desp5ts Iho Tntsl and mosl locals. owdtons, ha8 adversety Impacted
Mlllpool Centre. Two groups had to dose.
EnteTrrlse House
(Supportlng Obloci 1 of tho Tr￿1 as dalalod above)
Entwprls• H￿86 Is (Avned by the Tntsl on a 99Wear lease arKI w88 lomi8ty wn 8$ the Looe Enlerprfse
Centre unlll May 2013. Slnc• Ihen, the propèrty has been lel on loases to a numberof local buthes888 and
Is used to genernte Income lo support tho Mlllpool Centr•. The tonants sln¢• July 2019 hav8 been a dog
gmomlng parlour.:
New local propety manageTS were appDlnled In 2024 by the freoholder. whlch has seen good
communlc8llM and clarNlcakn on all matlers. An appeal on tho Arcade's sharad Ilghtlng electricity blll has
boon mado by Ihem lo the ombudsnwn. slnce Loot Tthvn Coul￿3 tenants at No 2 Ignored all blls and
requests kn rnad Ihe non410ts1 rneter. for over 2 Ye￿5.
MoorTo Sga ProJo¢l
(SuppoTlkng Objects 2. 3 & 4 of Ihe Tntsl 88 datslod abov•)
Thls hethage project Ilnlshed C￿ 31 March 2024. Fmm h came the Smugglers Way ProJ•¢t
Thls was a spln off prw from the Moor lo Sea Projec( fundgd by the Good Growth Fund. Thè project
undortook feaslblllty woth and 81gnposlhw ol local trall8 and foolpats wllhln tho East Looe Valley, kn(Avn
as the 'Smugglorn W8y'. Tho projecl gamered good support from the parfshes and coundls con￿U0us to
the Looo V811oy ralway Ilne, wllh tho f0M￿tIon of a legacy body called Tr Looo Valey P8rlnernhlp'.
Additional fundlng made avallabh Irm the Good Growlh Fund In October, whlth enabled further
marking of the Smu99lerfs Way rout•. All outyuts arKI expendliurn were compl8led by th8 31 Oe¢ember
2024 d8adlln8.

LOOE DEVELOP
T OF THE TRUSTEES
co
W• Arn of Thls Plac•
(Supporflng ObJe¢l8 1 & 4 of the Trust a6 delalled abo￿)
Tha Looo Valley Parfn8rnhlp. declded kn181• 2tr24 to hold a month4ong celebTaiion of what's on In Ihe Looe
to L18keard area for Aprll 2025. Thls was funded by a granl from th? L006 Developmenl Tw8L Thh Ye8lfval'
was to be slmSlar lo the su¢￿$￿￿ AutUJMal 'Llskeard Unlocked, fostlv81. In this introductory year most
events, already ￿Ing Undertake￿ were promoled a¥ ￿11 as Ihe commlsslonlng of fve unSqu• events,
Includlng envlronmental film nlghts, Illers. bannerd and a web and actlve soclal medla page. Great 6UPPOrt
w38 glven by L18k8ard Town Counc51 and Vl611 Llskeard, wlthoui WI￿rn Ihe fe8kn1 cO￿d nol have gon
ahead. Inlual foedb8¢k haj boon po8ftlve.
D•fibrfllator•
{Supportlng Objects 1 & 2 01 the Trust 88 detalled above)
The TnMI •xnllnues 88 Ihg fund hold8r for the Looe Defibrfllalors fund. Th• fvfry•ar equlpmenl
replacement be due In &yearn.
Th• Wh••led 8port• F•¢lllty (Skatsboard hrk) al Loo• (Plannlng)
(Supporflng Objecl 3 01 the Tnrnl aB dolalled abov•)
It has long beon tho ambltlon of th• Tru811o wovld• a 8katopork In Looo for Ihe youth oflhe local area. The
prOv￿on of a skatepark wa8 SUPPOTled In th8 Looe Local Developmenl 8tralegy In 2022 and Is con8181ently
the number ono 88k from Looe'8 youth. The vI￿rkIng group con818ts of the Tru8( Loo8 T¢)wn Councll and
IM Boundl•88 Tru8L An arna In Iho Mlllpool car park was Identllbed and Looe T¢)wn Cwncll have negotlated
loase wllh Comwall Counc4 (who wlll as of 2024 onty18a8e to them). The lease condlllons for full rn
knstatoffl•ni afo onerou8. Th• do*n w88 ¢onwletod by contro¢tor Mavorl¢k and youth wllhln Looo. A
nolse survey was undertaken, nexl 8leps agreed. and an expgdlled pr+￿annIng applScatlon w88 8ubmittod
by the TN8( but Comwal co￿dI Plannlng mlssed all deadllne8 by &month8. causkng the thcl to be
delayed knlo the n*￿ fin•nd#l ￿•r1 As a prtorlty prolo¢1 for the knn. thè Trusi vAll contlnu? kn commlt
81gnlficant Ilm•, r•80uw and offort to brlng It to th• ¢on8trucUon pha80 beloro handSn9 OVW to p8rtner8 10
undertake Ihe managemenL
Th• Loo• Chrfslmas Llghts and Fost￿18
{SupporUng ObJo¢13 of th& Trust 88 dotsied abov•)
Tho Tnmt conthiued 88 lh8 fund holder for the Chrl8inM8 Ilghts and fe8tSvals. Th880 are held durfng th
December and January fe8tlve 8ea8on. The New Yearf8 Eve Ilrework8 dl8play and lh8 Festlve Ilghts are
now both undor now managemenL The ngms and 18811vals offer attractlon lo th• Town lor locals and
seasonal vlsltorn year on year. Feslfve Ilghls aro a well￿510b1￿8hed evenl supported by mary local
organlsaloons and adds to the amblance and enjoymenl of Looe by both I￿1¥ and vlsltors alSke.
There are In8uffldent fund8 to Ur￿erfakO the maknienance. weplacemenls. In8lallalkn and powwlng of tho
¢uffenl Ilphls. whlch Cannot meet leglslatlve ch8ng88. Volunlary SUPWI Injm Loo8 H8Tbour
Commtsslonera 81aff and u80 of thelr access platforni has bo•n wllhdrawn on advlce from Ihelr Ir￿rern.
However. funthng for the Ilghts for 2025 and omyards Is b8lng pen￿d by the Twst. along wllh an optlon lo
contractoul al a total cost of £34.000 for >years Illumlnatlons, exdudlnp tho Snslallalfon ofnewwlrlng strong
polnts and comp118nl electrlclty 8upplles. Th8 Trust has appro8th8d numeroug lundlng bodles IMA all wlll
not fund 'exlstlng acw. Th15 Is unfimd&d and cuffently unaffordablo unless ngw funder8, Includlnp
Comme￿131. can bo found. Allhough tho Twst Is1￿1th• Yund holdorf for Ihls acllvltyll wlll doubl1885 rKelve
a(fvers8 publlclty Bhould the I1￿1￿ng Mt happen.

LOOE DEVELOPMENT TRUST
Loo• Vall•y Cycl• Trnlls
{SupportlrvJ Objoct 1. 2. 3 & 4 01 tho TN81 as d•laled abov•)
The Trust Is leadlng the developmonl of locel cycle tralls, to Ilnk Intothe natlonal ngtWOTk, locrn8to economk
development and prosperlty. The C¢)mwall CNncl feaslblllty contractors have falled to achleve thg goa
for Ihe roule plannln9. Apart from the Snmmlorfs Way. wh*h Is related to thls project there has been no
other acovlty dwlng thls reportlThJ pethd.
F•8tlval of Word•
(supp￿ Objects 1 & 4 of tho TnMI as detallod above)
Th• Tn￿t provldod publk118blllty IMwanc•. banklng, guldarK• end grnnled nll cost UBe of Iho Mlllpool
Centre for INS now free lttefary festlval In Loog. held In the Au￿ffln, run by voluntoers. 11 w88 a greal
success con818Ung of*thsly8, a booklalr al￿ authorlalks and walks, vthlth •ngag•d raad•rn and wrlta
of all ages. backgrounds and levols of expwknnco In a broad rnnge of ￿h*ualIty actNitle8, •ncournging
partldpauon, Involvement and ￿reakn the 4x)mnwnty. ￿kfjng In partnershlp wlth local
communlty group8. not%￿rkS and venu￿.
May Fayv•
(Sypportlng ObJ•cl• 1 & 4 of tho Tnmt 88 d8tallod above)
The Trnst conlknued to provlde publk Ilabfflty Insuran￿ and guldance lo thls lon*8tandlng communfty event
In West Looe. A new gft)up of volunt6or8 wa8 lomi•d lor lh• 2025. Th• evonl w88 o great 8ucGeu.
G•n•rnl
Th Twst thmugh pgrllclpallon of hs TfUSte08 conthu081o be Involvod Ina vath ol actMtl81, propramme8
and fundlng stream8 to the benefft of the arna. Th•ao Inckthtr.
Loo• T•am- Wothkng on tho To*n'8 pro1￿8•d bu8ln•M M*•. W• arn th• only non•Loo• Tovm
Councll membor on th18 group. 86rau80 01 th• TNsf8 pafU¢lpokn •dthtknnal County fundln9 for the
dévelopment Wofk was Mcw•d.
Cwrnllon me•Ung8- The Tn*i eatabl1th￿ and malnlaln• ctroperauon meetlng8 wlth t￿ heads of
East Looe Town TNSI, We8t Looe T(Mn Tru81, Looe Hartxwr Comml881oner8 and Looe Town Cwncll.
Th88e 'lnfomMI' meellng8 enablo underntandlng aThl ccowrauon the Town, lumllln9 our
Owodkn ofwofklNd ￿ether.
Looe Communlty Players - Th Tnrt uslry tho Mlllpool Centro, 08318ts ond I￿k19 the funds for tho
aMu81 Loo6 pantomlme on a profit-8harlng bo816. Thls powlar event succeBsfulty Involve8 Iho uso of
many of th• danc• group8 tho1 th• C•ntr•.
In addltlon to IhM• •cbth th• TnMI has boen Involved over the Ihe T¢Y*n C￿n￿l and CorNall
CO￿¢11. Th? Tru8t (>)nllnued to Mek out fvrther opporknll*s to hKxease Incom• and expand whal we do
In the communlty. Tho Trusi hAs also provlded I￿1p arnl 48818tarK• lo rnwry loGg1 wllh help
In lkndlng fundlng lor young people and varfou8 projocts.

LOOE DEVELO
MENT
USTEES
RUST
CONTINUED
FimiRE DEVELOPMEKfs AND COMMrrAIEMTS
Other projects hava b•M consldered by Looo Devthpmenl Tntsl INS reportln9 perlod: some have
not galned supw¢ othern have been gfven asslstsnc• and for othgrn thelr feasSblllty was lo bè further
inve5tigaied. The Tn￿t's PTifKxpal monetsry concem is thal of the comrnerdal suslalnabllty development
of MHlpool Centre follwlng the unjuslified 6x Infiation Incre858 in parklng costs in the Mlllpool Car park.
and the longer tem) letung of Enlerprlse House to provlde Tnmt Incomo. Olhor Incom8 streams arn also
r¢OW requlred. The of Ihe Fostive Ughls Is offrenlty unaffordabh. wllhoul commerclal (sponSo￿h￿P)
funds.
Durfng the year the Mlllpool Manager h88 relalned volunleor slaff havo mada considarabla
efforts to make the Mlllpool Centre attracth lo users *lthln th¢ communlty. It18 to Ihe Managerfs and
volunteers. credlt thal Iho Centre contlrwes lo wovld6 supwt lo meoung th6 obloctfvos of the Trusl. The
Mlllpool Canlie 1$ an aC￿SIt￿@ and bespd(g d•8lgn located rnxt to th• t(r4m librnry and Town Coundl
officos. It offws great opportunlty lo engage and meet thg needs of the w￿r PDpulatlon.
The Tru818es arrfl Offlcef8 have revlewod tho Tnmt's Immodlale. n￿(kn} ond lontrtemi susl8ln&bS1ty arKI
comml¢m8nls. The TNSI Treasur•r has provldod sound fr•sh guldanc• lo lh• Trust durlro thSs rnportlrrfd
perlod: ho has also br￿ght usèlul cofflmwdal 8klls lo the TrusL
8TATEMENT OF BENEFIT
The TN8t ha8 contlnued to me8t118 commllm6nts for the COMM￿ has worked In collaboratlon wtth
other local organtsath)ns to addfe88 poverty In the en8ulng energy based economlc crlsls. exacerbaled by
the Contlnulng war kn Ukralno. Durlffd Ihe reportlng year the TN8t r6celv8d Income Irom central I local
govemmenl lo dellvw 8ervlce8. Mlnor local Town Coundl grAnt8 have been recelved foT proleGls kn th18
Ilnanclal year.
The Tnmt has a pollcy of not paylng Its volunleer staff, apart fram199ltlmate expenses when Incuryed. Tho
Tru81 has one emthee. the MIllp(￿l Centre Manager. The TfU8t ha8 an orvJolng revlew 01118 opornllng
procodum, buslnfj88 plan and financlal control8.
e Dwelopmant Tntyl conllnuad lo provlde benofiL In accordan￿ vAlh Its obJéclSvos, durfng th6 2024r25
reportin9 year. Tho Tfusiees. Its Officers. efflployees and voluntaeT3 hAve wovlded 8 subslanbal langible
Improvoment io the l¢)cal communlty of Looo and Its conUguou8 P8rl8heB. whh the provlslon ol conllnuiNJ
8ervlces to the wlder communlty through the Mlllpool Centro. However, tho trust h83 plan$ kn overcome
these challengas wllh v8rk)us optkn* b￿n9 explored and somo arn already In pl•ce.
Thls report was approved by t￿ Tru8t•u On 8 August 2025.
Juslin G Sweckley
(ChaThan of the TnMIg08)

e10
OE DEVELOPME
RT OFTHE TREASURER
Flnanclal revlew
Looe Devebpmenl Tntst generaled a dellcll In the year wlmarfly because of Increased Mlllpool Centre
malnlenance costs bul It remakns In a financlalty solld pDsStion wilh net assets of £69.163. Its prfnclpal
financlal challenge Is lo gerwate more nel Income so that over lime the Trust Is able lo n)aknlaln Ihls
valuablo assel for the benefit of the ¢ommunlty and ler￿W Its lease In th8 longer lem).
R•s•rv•s pollcy
The Trustee¥ consld8r thal the free reserves lo enable tho Trusl lo conllnue In operatlon comprlse the cash
held by the Trust exdudlng the reslrlcted and deslgnated Income funds of £66,169 plus Income generated
on Its renlal propety al Enlerprfse H￿$8.
The reseTves are ￿ld lo providè lor any operatlng dellclts al the Mlllpool Centro. lo meet malntenance c¥)sls
of th¢ Millpool C•ntro and in due cour88 to exlend the lease of the Mlllpool Centre. The Trustees rese
poIIGy Is an expense reserve of approxlmolely one yearfs kncome of £40.000 8nd a malntenance reserves I
18&8e renewal of £50.000 so ai presenl time the Irusl Is below Ils largeled level of reseNes of £90,000 and
vlll look lo bulw Its r•s•TV•S ov•1 Ilmo to r4uired level. The Trusl Investment polScy Is to hold surplus
reseTW In bank deposS1 a¢counts.
Golng Conc•m
Based on the level of cash and free re8eThe8 the Tru8tee8 conslder Ihat they have adequate re8our¢es lo
contlnue as a golng concern for al least the next 12 months of operallon.

LOOE DEVELOPME
TRUST
INDEPENDENT EXA
RT
We report on the accounts of Iha Charfly for the year ended 31st March 2025. which are set out
on pages 12 to 21.
Respectlve rnsponslbllltles of lrn$ttts and examln•r
The charlty's trustees are responslbl8 for the preparallon of the accounts. The charity's Irustees
conslder Ihat an audll Is not requlred for Ihls year (under secllon 43(2) of the Charflies Act 1993
(the 1993 Act)) and Ihat an Independent examlnatlon Is needed.
11 Is our responslblllty lo
examlne th6 accounts (under sectlon 43(3Ma) of the 1993 Acl),
to follow the procedures lald down in the General Directions given by the Charity
Commissioners (under seclion 43(7)(b) of the 1993 Act), and
to slale whether partlcular rnatt8rs have come to our attenllon.
Basls of Independent examlnerfs report
Our examlnatlon was carried out in accordance wlth General Dlrecllons given by the Charfty
Commission. An examination indude5 a revlew of Ihe a￿OUntIng records kept by charity and
a comparlson of the accounts presented wllh those records. It also Includes ￿nskleration of any
unusual sterns or dlsclosures in Ihe accounts, and seeking explanations from the trustees
concemlng any such matlers. The procedures undertaken do not provide all the evidence that
would be requlred In an aud51. and consequentty no oplnlon Is glven as to whether the accounts
present a 1rue and fairf vlew and tho report 55 limited lo Ihose matters set oul in the slaiement
below.
Independent examlnèrfs stat•ment
In connecllon wlth our ex8mlnatlon, no matter has come to our attentlon.
whlch gives us reasonabl8 cause to believe that in. any malerial respect, the
r8quir8ments
lo keep accounting records In accordance wlth sectlon 41 of Ihe 1993 Act. and
to prepare accounts whlch accord with the accounting records and comply with
Ihe accountlng requlrements of the 1993 Act have not been meL or
to whlch, In our oplnlon, attentlon should b8 dfi*Yn In order to enable a proper
und8rstandlng of the accounts lo be reached.
Date:
August 2025
Oakl8y8 Ac¢ountsnts

ooe Deve
STATEMENT OF FINANCIAL ACTIVITIES
THE YEAR EN
31
2024
Unrestri(led Restricted
Funds
Funds
Tolal
Total
otes
INCOMING RESOURCES
Mlllpool Centre
Ente￿n$8 House
LDT Events
LDT Donatlons recetved
LDT MembershSp fees
LDT Admlnlstrallon recelpts
Bank Interest recelved
25,991
9.￿7
120
355
16
300
1.043
25,991
9,067
120
27.017
8.213
1.796
16
3,006
1.295
16
1,043
36.892
36.892
41.343
Projeds
Moor to Sea
Defibrillato
Wheeled Sports FacMIty
Youth Aclfvltles
Looe Communlty Players
Looe Festlval of Words
Looe Business Forum
850
1,639
45,648
1.821
208
1,639
199
1.100
1.663
3,736
1,100
1,663
3,736
2.240
Festfvals Chrfstmas Ughts
FirewoTks
16.444
8295
16,444
8,295
2.631
2,508
35,826
35,826
$5,056
T¢)tal Ineomlng resourcos
36.892
35,826
72,718
96,399
Total resources expendod (next page) (45.600)
(19.204) (64,804) (124,226)
NEf MOVEMENT IN FUNDS
(8.708)
16.622
7,914 (27.827)
Funds balance brought foNard
152.871
49.547 202.418 230,245
Funds balance carrled forward
144.163
66,169 210,332 202,418

LO
T TRUST
STATEMENT OF FINANCIAL ACTivmES
CONTINUED
OR THE YEAR ENDED 31ST
2025
2024
Unrestrlcted Restrlcted
Funds
Funds
Total
Tolal
RESOURCES EXPENDED
Mlllpool Centre
Ente￿1•50 House
LDT Fund8 OonaUon8 mad8
42,533
1.488
334
42,533
1,488
35,039
1.792
Admlnlstratlve expenses
Professlonal fees
13
1,065
1.245
1,245
45,600
45,600
8,507
37,910
69,299
153
Projects Moor to Sea
Defibrfllalors
Whe6led Sports Faclllty
Looe Communlty Pl8yer8
Youlh Actlvllle8
Looe Communlty Meal8
Looe Festival of Words
Looe Business Forurn
8.507
1,020
1,842
548
1,020
1.842
548
1,900
601
3.194
1.891
3,194
1.891
Festlvals Chrfstrnas Ughts
FIreK1￿5
476
1.726
476
1,726
3.060
11.303
19.204
19,204
86.316
Total r•8ourc•s •xp•nded
45,600
19.204
64.804 124,226

Pa
e14
LOOE DEVELOPMENT
UST
CE SHEET AS AT 31ST MARC
BA
26
Notes
£ 2025
£ 2024
FIXED ASSETS:
Investment property
Tangible assets
10
11
75,000
450,558
75,000
463,295
CURRENT ASSETS:
Bar Stock
Debtors and accrued income
Cash at bank and in hand
12
2,828
130,681
18,002
122.173
134,349
140,963
CREDITORS:
Amounts falllng due within one year
13 (1.175)
(16,640)
NEf CURRENT ASSErs
133,174
124,323
NET ASSETS
658,732
662,618
RESERVES:
Reslricted income funds
Unrestricted incom8 funds
D8sl9naled fund
General fund
15
66,169
49,547
15 75,000
15 69.163
75,000
77.871
144,163
448,400
152,871
460,200
Deferred capttal grant
14
658,732
662,618
These accounts have been prepared In accordance wllh lh8 spedal provlsions relatlng to small
companies within Part 15 of the Companles Act 2006 and with the Financial Reportin9 Standard
for Smaller Enllties (effectlve 2015).
For the financlal year ended 31 st March 2025 the company was entitled to exemption from audlt
under 5ectlon 477 Companies Acl 2006; and no notice has been deposited under section 476.
The directors acknowledge thelr responslbllltles for ensuring that the company keeps accounting
records whlch comply wlth section 386 and for preparing accounts whlch gNe a true and fair view
of the state of affairs of the company as at the end of the financial year and of its profit or loss for
the finandal year in accordance with the requirements of sections 394 and 395 and which
othe￿iSe comply with the requirements of the Companles Acl 2006 relating to accounts, so far
as appllcable to the company.
Slgned on behalf of the Board of Trustees:
Date: 8 August 2025
Mr. R. Lewis, Trustee
Mr. J. Spreckley, Trustee

e15
LOOE DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
ACCOUNTING POLICIES
(a) Basls of Accountlng:
The accounts have been prepared under the historlcal cost convention as modified by the
revaluation of properties and In accordan￿ with the Statement of Recommended Practice,
Accounting and Reporting by Charities (FRS 102) effective 1st January 2019.
The company has avalled itself of Paragraph 3(3) of schedule 4 of the Companles Act and
adapted the Companies Act forniats to refiect the special nature of the company's
(b) Legal Status of the Company:
The Trust is a company limited by guarantee and has no share capital. The members of
the company pay an annual fee of £1. In the event of the company being wound up the
liabilty in ￿pect of the guarantee is limited to £1 per member.
(c) Fund accountlng:
General funds are unrestricted funds that have been set aside by the trustees in
fvrtherance of the general objectives of the charity. a￿1 which have not been designated
for other purposes.
Designated funds comprise unrestritsd funds that have been sel aslde by the trustees for
particular purposes. The aim and use of each designated fund Is set out in th8 notes to
the financial statements.
Restricted funds are fvnds whlch are to be used in accordance wilh specific restrictlons
Imposed by donors, or which have been raised by the charity for particular purposes. The
cost of raislng and administering such funds are charged against the Sp￿rri¢ fund. The
aim and use of each restricted fund is set out in the notes to the financial stslements.
Investment Income and gains are allocat￿ to the approwlate fund.
(d) Incomlng resources:
All Incomlng resources are induded in the SOFA when the ¢harlty1s legally entiued to the
income and the amount can be quantified with reasonable accuracy. For legacies.
entiuement is Ihe earfier of the charity being notifRd of an *npendlng distribution. or the
legacy being received.
Gifts in kind are accounted for at a reasonable ￿tIrnate of their value to th8 charity and
the amount actually realised.

Pa
e16
LOOE DEVELOPMENT TRUST
TO THE FINANCIAL STATEMEKrs
CONTIN
ED
(o) Resourcos oxpondod:
Expendltur8 Is reco9nlsed when a Ilablllty Is Incurred.
Expendlture has been classlfied under headlngs that aggrega18 all costs related to the
category. Where costs cannot be dlrectly attributed to particular headings they have been
allocated to actMll8s on a basls conslstent wllh Ihe use of the resources.
Dlrecl costs of generallng funds 8re those Incurred dlrectty In c8rrylng out th8 Income
generatlng actfvllles of thè charity. and do not Indude Ihe costs of dlssernlnating
Inf0M￿lI0n In support of th8 charftable adlvltles. Support C08ts are tha8e Incurred dlreclly
In support ol expendhure on the objecls of the charity. Managemenl and 8dmlnlstration
costs are Ihose Incurred In connectlon wllh admlnlstrallon of tho charlty and complSance
wllh conslltutlonal and stalulory requlrernenls.
(fj Taxallon:
Tho charftls actMll88 are exempt from Value Added Tax. Irrecoverable VAT Is not
separately analysed and Is charged agalnsl lh8 category of resources expended for whlch
11 was Incurred.
(g) Operallng l•a80S:
Tho charlty classlfies the lease of equlpmenl as operatlng leases, Illle lo the equlpment
remalns wllh Iho lessor 8nd leaslng costs are charged on a 8tr8lght41ne b8sls over the
lemi of th818ase.
(h) Tanglblè fix￿ a880ts:
Tanglble fixed 8888ts co8tlng more than £500 arn Ca￿10$ed and Included at C05L
Indudlng any Incldental expenses of acqulsltlon.
Depredatlon Is provlded at the followlng annual rates In order to vthle off each asset over
Its estimated useful lrfe.
Leasehold bulldlng
Flthre8, fittlngs and equlpmont
Over Ilfe of18a88
33.33% on Gost
O) Donat•d as8•ts:
Those 8re c8pll8llsed at reasonable value on receSpts and dapredaied over Iholr useful
economlc Ilves.

LOOE DeveLOPMeNT TRUST
E FINANCIAL STATEMENTS
OTE
CONTI
UED
U) Investment Propety.
Inveslment property is slated at Its esllmated market Va￿ at th8 balance sheel date.
SOFA indudes the n?1 galns and losses arising on re•valuations arKI dlsposals throughout
the year.
TRUSTEE'S EXPENSES:
Trustees recelved ￿ remuMrallon durlng the current (r year.
RELATED PARTY TRANSACTIONS:
Ther8 were no transactions undertaken by. or on beho11 of. Ihe charity in which a trustee.
officer or connected person had a materlal Interest.
MILLPOOL CEiifRE:
2025
Hire of hall wKome
Bar Sales
24,208
1,783
25,731
1.286
25.991
27,017
Expondlture:
Stsff costs & volunteer expenses
Depreciation
Deferred grant Income
Propety malntenance
Cost of bar sales
Utililies
Insurance
Cleanlng
Admlnlstratlve expenses
Subscriptions
Valuation fees
Llcenc8S
101h Annlversary Celebral
Publldty and meellngs
Ground rent
Photocopler
20.316
12,737
(11.800)
9,371
619
6,537
2.878
640
85
206
19,367
11,837
(11,800)
4,241
858
4,926
2,105
1,213
227
452
420
699
214
63
195
142.533)
(35.039)
116.542)
(8,022)
LDT ADMINISTRATIVE EXPENSES:
2025
other
13
13

Pa
OTES TO THE FINANCIAL STATEMENTS
CONTINUED
ENTERPRISE HOUSE:
2025
Renlal Income
Recharged managlng agency fees
8.000
1,067
8.213
Expèndlture:
Property malntenance & premlses costs 420
Managlng agency fees
1,067
Ground rent
(1,488)
{1)
7.579
8.212
DONATIONS MADE:
2024
Ba￿lCan Pre Sthool
Royal Britlsh Legion
Looe Boat Owners
RNLI
Poppy
Looe Llons
1,657
149
105
60
45
334
1.792
FESTIVALS:
025
2024
Chllsknas Ilgms:
Transfer from Looe Communlty FONM
Looe Town Council
West Looe Town Trust
Interest
10,278
5,500
500
166
1.000
131
16,444
2,631
Ughtlng equipment and Inslallallon
Cherry plcker
Admlnlstrallve expenses
Insurance
176
2,410
300
300
300
(476>
(3.060)
15.968
(429)

00
NUED
INDEPENDEKf EXAMINER'S REMUNERATION:
Th6 accountanl and Indep8ndenl exami￿￿5 remuneration was £850 (2024 £825).
10. INVESTMENT PROPERTY
Total
Valuatlon:
At 1st Aprfl 2024 and at 31d March 2025
75.000
The 1888ehold propety 8t Ent8rpr18e Hou88 was purchased In January 2002 and was
orfglnalty used to provlde computer trainlng for the Looe communlty. It Is rttorded al the
valuallon determlned In Ihe accounts for th8 year ended 31 March 2014. The temi of Ihe
18888 is 999 years from May 1999 and Is held on a on ground rent of £1 per annum and Is
currently sublet al £8,000 per annum lo provlde rental Income for the Trusl. The T￿￿e8$
conslder that the current valuatlon Is 8UPPOrted by the renlal Income generaled.
11. HXED ASSEfs: TANGIBLE ASSETS
Leasehold Flxturns. Ilttlngs
Prop•rty
& •qulpmonl
T¢)lal
COST:
At 181 Aprfl 2024
Addltlon6
593,132
59,866
652.998
At 318t Marth 2025
593.132
59,866
652,998
DEPRECIATION:
1st Aprll 2024
Depredatlon
129.837
12.737
59.866
189.703
12.737
At 31st March 2025
142.574
59.866
202,440
NEf BOOK VALUES:
At 1st Aprfl 2024
463.295
463.295
Al 31st March 2025
450,558
450,558
The Leasehold Propety Is The Mlllpool Centre wh5ch was compleled In 2013 and Is held
on a 50-year lease at £50 por annum from Looo T(y•m Councll.

MeKr TrUST
NOTES TO THE FINANCIAL STATE
ENT
UE
12. DEBTORS:
24
Deblors I pr8payrr￿ts
Moor To Sea I Smugglers Way debtors
Glft ald recelvable
1.973
1.135
16,552
315
2.828
18,002
In the comparative perbd. debtors Increased by due to tkn￿￿ of Easter ho15day In current
year and comprlse fmal 10% grant fr(xn Iwo funders and granl from 8noth8r fund for
Moor To Sea I Smugglers Way Proje￿8.
13. CREDrroRS:
Amounts falllng due wlthln one year
Trnde credllors
Moor To Sea I Smugglers Way ac(xuals
Olher ac(Yuals
2025
202
139
15,301
1,200
1,175
1.175
16,640
In the ¢(xnparalive perfod, accxuals Increased by dug to tlmlrvJ of Easter hollday In current
year and payment of Moor To Sea I Smugglers Way project costs incurnl before year
end after the year end.
14. DEFERRED CAPITAL GRAKr:
Tolal
At 1st Aprfl 2024
460.200
Release to inwne in year
(11.800)
At 31st March 2025
The deferred capital grant provld8d to construct the Mltlpool Centre Is belng amortlsed to
the Income stalement over the 50-y8ar lease period as Cornpanies Act does not pemill
the offset of capital granls agalnst Ihe cost of construction.

LOOE DEV
NTTRUS
STOTHE
CIAL STATEME
CONTINU
15. RECONCIUATION OF MOVEMENT IN FUNDS:
Openlng Incomlng Resources
Cl¢)sing
balance resources expended Transfers balance
Restrlcted Fund$
Moor to Sea
8,916
Defibrlllators
23,291
Wheeled Sports Fadllty 8.206
L008 Communlty Player8 2,452
Youth Events
1,318
Coastal Team
Tea Dance
Looe Bu8lnes8 Forum
Looo Fesllval of Words
850 (8,507)
1.639
1,259
24.930
7.385
2.273
1,870
11.020)
11,842)
(548)
(226)
312
312
1,900
3.736
11,891)
(3.194)
542
ChrEslmas Ughts
FtrBwork8
4,179
16,444
8.295
(476)
(1,726)
226
20.373
7.216
49,547
35.826 (19,204)
68.169
Doslgnatod Funds
Enterpr186 House
LDT General Fund
75.000
77,871
9.067 (1,488) (7.519)
27.825 {44.112)
7,579
75,000
69.163
152,871
36.892 (45,600)
144,163
R•8lrfct•d Funds
49.547
D•slgnal•d Fund• 152.871
35.826 (19.204)
36.892 (45,800)
66,169
144.163
202.418
72.718 (64.804)
210.332
In the currenl year thè Tnjst 8ceept6d cash balances prevlougly held by the Looe
Communlty Fowm for Festhials as the Looe ConNnuW Fonun activiues were merged
vthh those of the Looe Development Trust.
In the year the resklual balance on the Coastal Team fund whlth was the balance of a
grant less exp8ndlture lo help attraci tourfsts lo vlslt Looe was iedesi9naled to the Ughts
Fund whlch has effectlvety the same wrpose.
During the year the organosalion behlnd the Max Evans project detennll)ed thal the often-
delayed project could no longer proce8d because Max was now beyorKI age Ilmlts for the
events. A parual refund was recefved net of athnln15tratlve costs. After dlscusslDn wlth
donors. some were repald thelr donallon and others declded to let the Trust utllSs8 thelr
funds on other Youth related projects.