Company number:
Chartty number:
3898128
1094155
LON'G SUTTON MARKET
HOUSE TRUST LIMITED
Fi.nancial Siaiements
ror the year ended
3 1st March 2022
Foresters Hall, High Street. Long Sutton. Spalding, Lincolnshire. PE12 9DB I T- 01406 366868

Long Sutton Market House Trust ￿rnited
Financial Statements for the year ended 31st March 2022
Contents
Page
Legal and Administrative Information
Report of the Directors (Trustees)
Independent Examiner's Report
Statement of Financial Activities
Ba13nce Sheet
Notes forming part of the Financial Statements
9-14

Long Sytton Market House Trust Limited
Financial Statemen-s for the year ended 31st March 2022
Legal and administrative information
Status
The organisation is a company limited by guarantee. i1corporated on 22nd December 1999. company number
3898128.
The organisation is also 3 charitable company. having gained its charitable status on Ilth October 2(M)2.
qegistered charity number 1094155.
The company was formed under a Memorandum of Association which established the objects and powers of
company and is governed by its Articles of Association. Under those Articles. the directors are elected on
the trust's council at the AGM. and one third of those who have been longest in office must retire bv
rotation each year.
Directors
The directors serving during the financial year and since the year end are as follows..
Mr DD Wilson
Urs D K Jenkinson
Mrs P Wells
Mr C Carter
Rev N A Hasnip
Mr A Kattner
Secretary
Ur C C Carter
Registered Office and operations address
The Market House, 9 Market Street, Long Sutton, Lincolnshire, PE12 9DD.
ts-￿ePendent Examiner
PA R Rose FFA, Mark Rose Accountancy. Foresters Hall. High Street, Long Sutton. Spalding, Lincolnshire, PE12
9DB
Bankers
Barclays Bank Plc. 10 H311 Place. Spalding. Lincolnshir PEII ISR.

Long Sutton Market House Trust Limited
Financial Statements for the year ended 31st March 2022
Report of the Dirertors (Trustees)
The directors Itrusteesl present their report together with the financial statements of the charitable company
ior the year ended 31st March 2022.
Legal and administrative information set out on page i forms part of this report. The financial statements
crmply with current statutory requirements, the Memorandum and Articles of Association and the Statement
Recommended Practice - Accounting and Reporting by Charities IFRS1021.
Objectives and activities of the charitable company
The original objects of the charitable company were as follows=_
4avinE acquired the historic Long Sutton Market House and Corn Exchange building. situated in Market Street
g Sutton, Lincolnshire, to redevelop it for the benefit of the local community, and thus to provide a focal
Ent for the town and surrounding area via a one stop service point for a range of community facilities and
ar¥)ealing to a number of new projects.
t￿ring 2009 an application was made to Companies House and the Charities Commission to amend the
oDjectives to more accurately reflect current activities and airyls. The new objectives are as follows'.-
To promote social cohesion in a rurally isolated and deprived area for the disadvantaged and socially excluded
ty the provision of a multi use centre - The Long Sutton Market House and Corn Exchange, situated in the
Uarket Street. Long Sutton, Lincolnshire.
The directors Itrusteesl are confident these revised objectives of the charity remain within the Charity
Commission's general guidance regarding Piiblic benefit.
Structurei governance and management
A council, which should consist of a minimum of 6 directors, administers the charitable company. Under the
provisions of the Mernorandum and Articles of Association the business of the charitable company shall be
managed by the directors Itrusteesl who may exercise all powers of the charitable company.
The directors Itrusteesl are sought from within the local community so that they can bring knowledge of the
area and the needs of the area to bear on their governance.
The day to day operation of the Market House is carried out by a team of volunteers under the control of the
administration secretary. However, all major decisions must be brought before the board for approval. The
financial recording of the charity's operations is done under an honorarium agreement.
The charity 15 also reliant upon the "Friends of the Market House" in order to organise fundraising activities
and coordinate the sale of merchandise.

Long Sutton Market House Trust Lsmited
Financial Statements for the year ended 31st March 2022.
Review of activities and future developments / Reserves polity
The Market House has been operational for sixteen years.
The main activity of the directors Itrusteesl continues to be ensuring that sufficient use is made of the facility,
by the local community, in order to finance its operating costs on an annual basis.
The Charity has had reduced income from Room Hire etc due to the Covid-19 Pandemic. However Grants have
been received, as stated, which have significantly improved the overall financial p051tion of the Charity.
Looking to the future of the Market House, the charitable company has several main objectives which the
directors Itrusteesl are trying to implement..
Try and secure the long term use of the largest room in the premise.
Whilst several good contacts have been made and the use of the Corn Exchange room is increasing
again this is on a more "adhoc" basis than previous.
To ensure the smooth day to day operation of the building and maintain it to a high standard of
repair for the tenants.
Going Concern
The financial statements have been prepared on a going concern basis. There has been significant change to
assist the Directors Eoing forward with the writing off of the LCC loan. Therefore the Directors are happy that
there are no going concern issues.

Long Sutton Market House Trust Limited
Financial Statements for the year ended 31st March 2022.
Risk assessment
The trustees meet regularly to discuss the progress of the Market House and by continuing to lobby the Ioc31
council and relevant organi5ations, the directors Itrusteesl hope to ensure sufficient occupancy of the building
for the foreseeable future.
By continuing to plan the future operation of the site well in advance the directors Itrusteesl hope to mitigate
any potential risks of the project failing.
Management accounts are being prepared regularly for the directors Itrusteesl to review, and thus monitor that
suff icient income is being generated to match the building's running costs and the repayment of the loan from
Lincolnshire County Council. in respect of the capital cost of the project, and in doing so prevent any potential
deficit in reserves.
Dirertors. responsibilities in relation to the financial statements
The Directors are responsible for preparing the annual report and the financial statements in accordance with
applicable13w and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
Company law rèquires the directors to prepare financial statements for each financi31 year which give a true and
fair view of the state of affairs of the charitable company and of the incoming resources and application of
resources. including the income and expenditure of the charitable company for that period. In preparing these
financial statements, the directors are required to-
Select suitable accounting policies and then apply them consistently,.
Observe methods and principles in the Charities SORP;
Make judgements and estimates that are reasonable and prudent-
State whether applicable UK Accounting Standards have been followed. Subject to any material
departures disclosed and explained in the financial statements.
Prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charitable company will continue in operation.
The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financ131 position of the charitable comr.any and enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for Safeguarding the assets of the
charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities
Approved by the directors on
28th December 2022 and signed on their behalf bv:_
Mrs D K Jenkinson
Director
D D Wilson
Director

Long Sutton Market House Trust ￿rnited
Independent Examiner's Report
for the year ended 31st March 2022.
S report on the accounts for the year ended 31st March 2022 set out on pages 6 to IS.
Respective responsibilities of trustees and examiners
As the charity's trustees land also its dirertors for the purposes of company lawl you are responsible for the
preparation of the accounts in èccordance with the requirements of the Companies Act 20061'the 2006 Act'l,.
you consider that the audit requirement of Section 144121 of the Charities Act 2011 (the 2011 Act) does not
apply. It 15 my responsibility to examine the accounts (under Section 145 of the 2011 Act) and to state on the
basis of the Art, as amended, whether particular matters have come to my attention.
Basis of independent examiners, statement
My examination was carried out in accordance with the General Directions given by the Charity Commissioners.
An examination includes a review of the accounting records kept by the charity and a comparison of the
accounts presented with those records. It also includes consideration of any unusual items or disclosures in the
accounts. and seeking explanations from you as trustees concerning any such matters. The procedLJres
undertaken do not provide all the evidence that would be required in an audit. and consequently I do not
express an audit opinion on the view given by the accounts.
Independent examiners, statement
In connection with my examination. no matter has come to my attention:
i)
which gives me reasonable cause to believe that in any material respert the requirements-.
lal to keep accounting records in accordance with Section 130 of the 2011 Act and section 386 of
the 2006 Act,. and
Ibl to prepare accounts which accord with the accounting records and to comply with the
accounting requirements of the 2011 Act and section 386 of the 2(M)6 Act.. or
Icl to prepare the accounts in accordance with the method5 and principles of the Statement of
Recommended Practice for accounting and reporting by charities
have not been met,. or
21
to which, in my opinion. attention should be drawn in order to enable a proper understanding of the
accounts to be reached.
Mark Rose. FFA
Mark Rose Accountancy
Foresters Hall
High Street
Long Sutton
SpaldinE
Lincolnshire
Date:
28th December 2022
PE12 9DB

Long Sutton Market House Trust knmited
Statement of Financial Activities Ilncluding Income and Expenditure Account)
for the Year Ended 31 March 2022
General I
Designated
Funds
2022
Restricted
Funds
2022
Total
Funds
2022
Total
Funds
2021
Note
Income From
Grants and Donations
Charitable Activities..
Room hire
Fundraising events
Refreshments and merchandise sales
15,713
15.713
57,090
17,202
578
17.202
578
5,213
125
167
62,595
33.493
33,493
Investments
Total Incorne
33,493
33,493
62,595
Expenditure on:
Charitable activities
17,110
17,110
8,934
Total expenses
17.110
17,110
17,298
Net Incomellexpenditurel
16.383
16,383
53.661
Transfers between funds
Net movement In funds
16.383
16,383
53.661
Reconciliation of funds:
Total funds brought forward
45.497
4,019
49.516
14,1451
Total funds carried forward
61.880
4.019
65,899
49,516
There are no recognised gains and losses other than those passing through the Statement of Financial Activities.

Long Sutton Market House Trust Limited
Balance Sheet as at 31st March 2022
Notes
2022
2021
Fixed assets
Tangible assets
io
5,690
4,550
Current assets
Investments
Stock
Debtor5
Cash at bank in hand
li
6,383
6,383
12
1,130
53.916
1,186
38,517
61,429
46,086
Creditors: amounts falltng due
within one year
Creditors and accruals
Other creditors
13
1.220
1.120
1.220
1.120
Net current assets
65.899
49,516
Creditors.. amounts falling due
in greater than one year
Other creditors
14
Net assets
65,899
49.516
Funds
General fund
Designated fund
Restricted fund
61.880
42,497
3.000
4,019
4,019
15
65,899
49,516
Total funds
65,899
49.516

Long Sutton Market House Trust Lirnited
Balance Sheet as at 31st March 2022 Icontd...)
For the year ending 31st March 2018 the company was entitled to exemption from audit under section 477 of
the Companies Act 2006 relating to small companies
Directors. responsibilities..
The members have not required the company to obtain an audit of its atcounts for the
year in question in accordance with section 476,.
The directors Itrusteesl acknowledge their responsibilities for complying with the
requirements of the Act with respect to accounting records and the preparation of
accounts
These financial statements have been prepared in accordance with the provisions applicable to companies
subject to the small companies. regime and in accordance with FRS 102 'The Financial Reporting Standards
applicable in the UK and the Republic of Ireland.
Approved by the board of directors Itrusteesl on
28th December 2022 and signed on its behalf by.."
Mrs D K Jenkinson
Director
D D Wilson
Director
Company Number:_ 3898128

Long Sutton Market House Trust Limited
Notes to the Financial Statements
lor the year ended 31st March 2022
l. Accounting policies
Basis of Preparation of Financial Statements
Long Sutton Market House Trust is a company limited by guarantee registered in England and Wales. In the event of
the charitable company being wound up, rhe liability in re5pert of the guarantee is limited to £1 per member of the
charity. The number of gvarantors at 31 March 2021 was 612020-61.
The address of the registered office of the charity is given in the charity information on page l of these financial
statements, The nature of the tharity's operations and principal artivities is to preserye the Long Sutton Market
House and Corn Exchan8e for the benefit of the public including its use as a Community Centre.
The charity constitutes a public benefit as defined by FRS 102. The financial statements have been prepared in
accordance with accounting and Reporting by Charities". Siatemenr of Recommended Practice 3pplic3ble to charities
preparing their ac£ount5 in accordance with the Financ¢al Reportin8 Standard applicable in the UK and Republic of
Ireland IFRS 1021, issued on 16 July 2017 las vpdated through Update Bulletin I published on 2 February 20161, the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. the Charities Act
2011, the Companies Act 2W6 and UK Generally Accepted Prattice as it applie5 from l January 2015.
The financial statements are prepared on a going concern basis under the historical t05t convention, modified to
include certain items at fair value. The financial statements are presented in Sterling which is the functional currencv
of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These
policies have been consistently applied to all years presented unless otherwise stated.
Incoming resources
Donations and gifts are included in the Statement of Financial Activitie5 when receivable.
Grants are recognised in full in the Statement of Financial Activities in the year they are recewable.
Resources expended
Resources expended are recognised in the period in which they are incurred. Resources expended include
attributable VAT which can not be recovered.
Any support Costs are allocated to a particular activity based on the percentage of time and Costs incurred by the
administration function on each attivfty.
Governance costs include the cost5 of governance arrangements which relate to the general running of the charitv
as opposed to its direct fund generating and charitèble activities_
Fund accountin
General funds represent resourtes for use in the general operation of the charity's day to day activities.
Designated funds represent resources for use within the general fund but which must be used for a specific PLJrpose
a5 Specified by the directors Itrustee51. However. any excess funds can by (Jtili5ed within the general running of the
charity.
Restriaed funds represent resource5 accumulated for a specific purpose and can not be utilised within the general
operation5 of the charTty.

Long Sutton Market House Trust Limrted
Notes to the Financial Statement5
for the year Ènded 31st March 2022
l. Accounting pol*¢ies Icont'd...I
Tangible fixed assets
Depreciation is calculated so as to write off rhe cost of an asset, less estimated residual value, over rhe useful
economic life of that asset as follows:.
Fixtures and fittings
20% Reducin8 balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date. with the recoverable amount bein8
estimated where such indicators exist_ Where the carrying value exceeds the recoverable amount. the asset is
impaired accordingly. Prior smpa¢rmenis are also reviewed for possible reversal at e3ch reporting date.
For the purposes of impairment testing. when it is not kw)ssible to estimate the recoverable amount of an individual
asset, an estimate is made of the rècoverable amount of the cash generating unit to which the asset belongs. The
cash generating unit is the smallest identifiable group of assets that includes the asset and generates the cash inflow
that are largely independent of the cash inflows from other assers or 8roups of assets.
Current asset investments
Current asset investments èTe stated at cost less provision for diminution in value.
Stock
Stock is vèlued at the lower of cost and nei real￿able value, after making allow3n£e for obsolete and slow
moving items.
Debtors and credltors rettivablelpayable within one year
Debrors and creditors with no stated interest rate and recewable or payable within one year are recorded at
transaction price. Any losse5 arising from impairment are recognised in expenditure.
Going Concern
The financial statements have been prepared on a going concern basis. There has been significant change to assist the
Directors going forward with the writing off of the LCC loan. Therefore the Directors are happy that there are nc> going
coflcern issues.
io

Long Sutton Market House Trust knmited
Notes to the Financial Statements
for the Year Ended 31 March 2022
IDeficitl/Surplus on operations
2022
2021
IDeficitllSurplus on operations is stated after charging=.
Depreciation on tangible assets owned
Accountants remuneration
1.422
900
1.138
900
3. Incoming resources
2022
2021
Unrestrirted
funds
Restricted
funds
Grants
MH Movie Fundings
Grange Wind Farm
Lincolnshire CC
Lincolnshire County Council
Iwagon Arch Door funding)
South Holland District Council
Covid Grants
Norfolk Community Foundation
Co-op community champion IDecoratingl
LCC Donation re Loan written off
2,000
70
15.143
25,000
29,177
Donations
Long Sutton Business and Resident
Community
81akemere Foundation
Macmillan Cancer Support
Balance on WaBon Arch Door
General
150
763
15,713
57,090

Long Sutton Market House Trust Limited
Notes to the Financial Statements
for the Year Ended 31 March 2022
4. Charitable activities
2022
Unrestricted Restricted
funds
funds
2021
Fundraising events expenses
Refreshments and merchandise
Wages
Advertising, stationery and postage
Rent and water rates
Light and heat
Insurance
352
257
272
118
4,982
428
134
35
1,370
399
F I I
Telephone
Repairs and maintenance
Cleaning
Computer costs
Sundry expenses
Governance costs
Depreciation
942
707
5,630
1,224
358
225
900
1,422
2,875
739
329
308
900
1,138
17.110
8,934
5. Governance costs
2022
Unrestrirted
funds
2021
Restrirted
funds
Wages
Professional fees
Accountancy fees
900
900
900
900
6. Employees
2022
2021
Total emoluments paid to employees:_
Wages and salaries
Social security costs
On average the charity employs no members of staff12020- 01

Long Sutton Market House Trust knmited
Notes to the Financial Statements
for the Year Ended 31 March 2022
7. Emolument5
No trustee Idirectorl received any remuneration for work undertaken on behalf of the comp3nv.
No trustee Idirectorl received payment for expense5 incurred in their duties.
Much of the work undertaken on behalf of the company is done by volunteers and 'Friends of the Market
House" group. A "cost" for such volunteer help has not been included in the accounts.
8. Taxation
The company is exempt from corporation tax on its charitable activities.
9. Legal status of the charitable tompany
The Trust is a company limited by guarantee and has no share capital. The liability of each member in the
event of winding up is limited to £1.
The company gained charitable status on Ilth October 2002.
The current trustees are the ultimate controlling party of the charity.
10, Fixed assets
Fixtures &
fittings
Total
Cost
8lfwd at 1st April 2021
Additions
Clfwd at 31st March 2022
39.645
2.562
42.207
39,645
39,64S
Accumulated depreciation
Blfwd at 1st April 2021
Charge for the year
C/fwd at 31st March 2022
35,095
1,422
36.517
33,957
1,137
35,095
Net book value
At 31st March 2022
At 31st March 2021
5.690
7,111
4,550
7,111
13

Long Sutton Market House Trust Limited
Notes to the Financial Statements
for the Year Ended 31 March 2022
11. Investments
£6,383 is invested in a separate Virgin Charity Deposit account .
12. Debtors
2022
2021
Trade Debtors
Provision for bad debts
Other taxes and social security costs
1,130
1.186
1,130
1,186
13. Creditors: amounts falling due
within one year
2022
2021
Trade creditors
Other taxes and social security costs
Accruals and deferred Fncome
1.220
1,120
1,220
1,120
14. Provisions
14. Creditors: amounts falling due
in greater than one year
2022
2021
Other creditors
14