Company Registratlon Number: 5556536
Charity No: 1113010
MORECAMBE Wll¥TER GARDENS
PRESERVATION TRUST LIMITED
(cor￿[PANy LLMITED BY GUARANTEE)
CONSOLLDATED FINANCIAL STATEMENTS
FOR THE TrTAR ENDED 30 MARCH 2025
*AEIIOHZD•
2311212025
COMPANIES HOUSE
#150
John Potter & Harrison
Chartered AccouDlaDts and Slatutory Audilor
1121114 Whitegate Drive
Blaekpool
Lancydsbire
FY3 9XH

MORECAMBE wINfER GARDENS PRESERVATION TRUST LIMITED
(CON(PANY LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS
YEAR ENDED 30 MARCH 2025
CONTENTS
Page
Memb¢r8 of Ihe Board and ProfessloDal Adviser8
Tru8teeJ' Annual Report
IDdependent Auditor's Report to the Member¥
10-13
Statement of FiDaDeiYdl Aetivities (In¢orporgting the
ID¢ome and Exp¢Ddlture A¢¢ount)
14
Consolldated Balance Sheet
15
Balance Sheet
16
Statement ofcAab Flow$
17
Notes to tbe Financial Statements
I￿30

MORECAMBE ￿TER GARDENS PRESERVATION TRUST LIMfrED
(CONIPANY LtTrttTED BY GUARANTEE)
MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS
Regislered cbarity Dame:
Morecambe Winter Gardens Preservation Trust Limited
Charity ttumber:
1113010
Company registration number: 5556536
Registered oifiee:
209 Marine Road West
Morecambe
Lancashir¢
LA4 4BU
Trustees:
Professor V Toulmin
Mr Paul And¢rton
Mr Richard Ryan
Mr Steve Matthews
Mr M D O'Neil
Mr C. S Oktem (resigned 8.9.25)
Mr M J Bateson
Mr M Ellis
Mrs L Quinn (appointed 14.10.25)
Auditor:
John Potter & Haffison
Chartered Accountants and Statutory Auditor
1121114 Whitegate Drive
Blackpool
Lancashire
FY3 9XH
Bankers:
Santand¢r
28 Penny Street
Lancaster
Lancashire
LAI IUA

MORECAMBE WINTER GARDENS PRESERVATION TRUST LIMITED
(COMPANY LIMrrED BY GUARANTEE)
TRUSTEES, ANNUAL REPORT
YEAR ENDED 30 MARCH 2025
The Trustees. who are also dirxtors for the purposes of company law, have pleasure in preseftting their report
and the financial statements of the charity for the year ended 31 March 2024.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and
Articles of Association, and Accounting and Reporting by Charities: Statement of R¢commend¢d Practirx
applicable to Charities preparing their accounts in accordanc¢ with th¢ Financial Reporting Standard applicable
in the UK and Republic of Ireland (FRS102) (effective l January 2019) referred to as the Charities SORP
(FRS102) (se¢ond edition - October 2019).
Reference aDd admini9trAtlve details
Reference and administrative details are shown in the schedule of members of the board and professional
advis¢rs on pag¢ l of the financial stat¢ments.
Directors and Trustees
The Trustexs who served the company during the period and subsequently were as follows:
Professor V Toulmin
Mr Paul Anderton
Mr Richard Ryan
Mr Steve Matthew$
Mr M. D. O'Neil
Mr C. S. Oktem (resigned 8.9.25)
Mr M J Bateson
Mr M Ellis
Mrs L Quinn (appointed 14.10.25)
Stru¢ture• goverDAn¢e and managemeDt:
Company oryaDi8ation
The company is a charitable company limited by guarantee and does not have a share capital. It was
incorporated on 7 September 2005 and registered &s a charity on 16 February 2006. The company was
established under a Memorandum of Association which established the objects and powers of the charitable
company and is governed under its Articles of Association.
Organisational structure
The board of trustees athninisters the charity. The trustees hold meetings once a month to discuss the op¢ration
with Professor Vanessa Toulmin appointed Chair for five years with an option for a further two if required.
Related PArties
More&wnbe Winter Gardens Limited was incorporated on 20 February 2013 as a trading company. The shar¢
capital of the company is owned entirely by Mor¢¢ambe Winter Gardens Preservalion Trust Limited.
Objeelives and aclivitieg for tbe public benefit
Th¢ main object of the Charity is the ownership. restoration and operation of Th¢ Morecambe Winter Gardens. a
Grade Il* Listed Building. Th¢ Winter Gardens operates as both a perfomianc¢ venue and also an historic
building and is open through private hir¢ OT weekends when it is operated by the volunteers as a caféthistoric
venue for tours and visitors for fundraising purposes through agreement with the Pres¢rvation Trust Limited.

MORECAMBE WINTER GARDENS PRESERVATION TRUST LIMITED
(CONIPANY Lll￿TED BY GUARANTEE)
TRUSTEES, ANNUAL REPORT
YEAR ENDED 30 MARCH 2025
{eontinued)
DevelopmeDls aDd acbievements.
From April 2024 onwards our deliverables were as follows
Complete the temis and conditions of the CDF3 ACE funding lo release both the initial revenue fvnding
to enable us to hire project staff which was achiev¢d in April 2024
Recruited project management team and main building architects to satisfy the criteria laid out in th¢
funding Conditions through an open tender process through Bloom. Butress Architects were appointed as
the Lead Contractors with Plac¢ Capital appoint¢d Project Managers and Appleyard and Tr¢w, Quantity
Surv¢yors.
The main parthership agffement was agreed with Lancaster and Morecambe College with the start of the
Young Cr¢ativ¢s proj¢ct in April 2024 to bring up to 75 work placements through partnerships across
Morecambe and Lancaster.
Completed the full planning application for RIBA 3 to Lancaster City Council in September 2024 and to
achieved a fully costed projext with th¢ majority of the funding in place for appointment of contractors
by March 2025
Completed the two-year UKSPF funding allocation with the installation of new sound and lighting
equipment in November 2024 and the procurement and installation of new windows and stage doors in
February 2025 to March 2025,
In June 2024, appointment of 4 new stsff relating to the revenue component of the CDF on a mixture of .8FTE
to .2 FTE for the followin8 posts. Volunteer Coordinator, Events Manag¢r, Project Assistant and also Marketing
Support. The Trnst also appointed through the government portal the requisite project team to oversee and
implement the capital Pro￿amme. Additional funding was also secured through UK Shared Prosperity Fund
through Lancaster City Council saw the appointment of a Young Creatives support officer at Lancaster and
Morecambe College .6 FTE to support the partnership with More¢ambe Winter Gardens on the Young Creatives
placements throughout the duration of the project. As the original CDF grant was due to start in September 2023
and the final agreements and release of funds started in March 24 the project posts were realigned for a two-y¢ar
contract commencing in June 2024 to be completed in June 2026. The UKSPF continued to run alon8side this
grant and was completed by March 2025 with an additional funding request for a one•year continuation of £67,000
submitted in January 2025.
On¢ of th¢ major achievements through the Revenue programme was in November 2024 when we did our first
full scale partnership with the Lan¢ashire Music Hub through Opera Magic from the London Festival Opera
Company. Over 2000 children from over 30 different schools across Lancashire came to two days of free shows
at the Theatre with an additional ticketed ¢vent on the Saturday op¢n to the public.

MORECAMBE WINTER GARDENS PRESERVATION TRUST LIMITED
(COMPANY LIMITED BY GUARANTEE)
TRUSTEES, ANNUAL REPORT
YEAR ENDED 30 MARCH 2025
(continued)
Developments and acbievements (contlDued)
FiDAneial
The Winter Gardens continued to operate and demonstrate profit which is then put back into our funding strategy
for ext¢rnal grants. The Limited Company incrwed its r¢v¢nu¢ in the last financial with mor¢ r¢du¢ed events in
the main building due to ongoing building work and condition reports required. Volunteer income programme -
the main revenue return for the Winter Gardens is achieved through r¢ntal income with new tenants in the shops
Eden Morecambe and Lizzie Collins MP, the heritage tours, th¢ weekend trade through the café, merchandise and
tombo1￿ the operational activities of the theatre and the fundrnising instigate through the Board of Trustees and
the volunteers. The venue fully reopened for the 2024 S￿￿On in Easter with a continuation of our weekend
opening hours of Saturday and Sunday to incre&se revenue due to previous opening restrictions. Our largest non-
funded capital expenditure Continues to be the cost of insurance and the now annual cost of the ceiling review
undertaken by Hayles and Howe. The volunteers remain an important operational functional function with café
income and donations alongside venue hir¢ and grant revenue enabled the operational activities maintained. The
financial targets for th¢ revenu¢ continued to increase in line with our projectsd match funding required for the
CDF and UKSPF funding arrangements.
Stak¢bolder EngagemeDt CDF and ItKSPF
W¢ continue to hold re8ular quarterly updates through reports and funder meetings with both our mp4in funders,
Arts Council England and Lancaster City Council through the Shared Prosperity Fund. Both funders are
supporting a mixture of Capital and r¢venue which make up the £3.2M grant which was secured in 2023 and was
then instigated and delivered throughout 2024 to March 2025. Major achievements in this period included the
procurement and installation of a new sound and lighting system for the stage in November 2024 which will
enable booking of more live music and the installation of new doors and windows to the back of the building and
fly tower
Our partnernhip with Lancaster and Morecambe College (LMC) started in April 2024 including a four hour session
with 121 students ranging from media studies, visual arts and design. engineering and hairdressing and the Young
Cr¢atives curated a week in Novemb¢r through our partnership with London Opera Company - LMC appointed
the Young Creative post through the UKSPF funding and through out parthership with Lancaster and Morecambe
College we did a number of events including 27 students from the Art and Media and Design course. For our
parth¢rship with the Association of British Theatre Technicians (ABBD we did n additional ten students from the
wider MoTecambe ecolo8y and venues to undergo the Bronze level training to Upskill the freelance technical
th¢atre and industy staff in the region.
Audieuce Engagenient and Development
As part of our ongoing business model and within the ternis and conditions of the CDF grant it was important to
develop our audience engagement both to understand our base lin¢ audience the areas of growth and development
required and to understand the Current visitor ewlogy. Funding from the Theatres Trust Resilient Theatre Grant
enabled ihe appointment of the Visitor Business in December 2023 and important work for the following season
which was ¢ontinu¢d from April 2024. This woA£ was completed in May 2024 and resulted in a clear fundraising
strategy for future enga8ement with Heritage Lottery Fundin8, created the template for an audience development
strategy and a SWOT analysis of future areas of priorities aligned to th¢ funding that would be requir¢d for a full
audience engagement strategy. We continued to develop our audience engagement strategy with specifi¢
reference to using the revenue funding within the CDF to programme a wide range of music and genres to
understand gaps in our audience policie5.

MORECAMBE WINTER GARDENS PRESERVATION TRUST LIMITED
(COMPANY Lll￿TED BY GUARAIYTEE)
TRUSTEES, ANNUAL REPORT
YEAR ENDED 30 MARCH 2025
{conlinued)
Developments and achievements (continued)
Community and Public Engydgement
As part of our continued engagement we received funding for a series of podcasts scripted and put together by th¢
volunteers with support from th¢ University of Sheifi¢ld and local podcasters. These covered the history of the
building and will be published later in 2025. The Trust continues to engage with the local creative ecology and
cuIwr&l groups via Lancashire Arts Partnership and continues to be active member of the BID. Our partners for
the CDF included partnerships and events with Northern Silents. Morecambe Bay Poetry Festival, Deco Publiqu¢
through Vintage by the Sea. We also started a number of new community arrangements and opend the theatre
to local community and charity wups and worked with organisations such as the Scouts, Morecamb¢ Art Fayre
Morecambe Heritage Centr¢ and of Course Lancaster and Morecambe College.. The Trust oontinu¢$ to hav¢ activ¢
and positive support from Lancaster City Council and Tom Brown in particular and the UKSPF team have been
essential in helping us reach the match funding targets required for the project. Th¢ Trust continu¢s to hav¢ activ¢
and positive dialogue with Eden Morecambe project team met with local Community artists, local h¢ritag¢
groups in Morecambe and Lancaster and further afield.
Social Media Engagement
With the appointment of a freelanc¢ social media coordinator th¢ Winter Gardens has embarked on a strategy of
social media engagement. This is a threefold p)licy to.. communicate our funding work on b¢half of our funders;
to continue our audience development and engagement by inforniin8 the public of our ongoing restoration work;
to increase and maximise our event activity to bring in further r¢venu¢ and increase audience dev¢lopm¢nL Our
major forn) of engagement continues to be the Facebook pages which receive monthly views, comments, feedback
in the tens of thousands monthly. Currently by the end of March 2025, on Facebook Instagram and all social
media platfornis we had over I Millton views on all our platfornis with Facebook being the largest and most
prolific of our engagement. At the start of April 2024 to promote the start of the season w¢ published a wide
range of posts, ree15 and other promotlonal works which attracted over 124.000 views and this continued
throughout the year culminating in our highest engagement figures in October 2024 of over 175,000 views. This
translated into over 2300 visitors to our website5 or google engagement an increase of over 10,000, an increase in
Facebook followers of nearly l 000 to just over 7000 from 6,122rollowers since the same period last year. This
urrent track record, alongside the feedback from users, partners and audiences, has infonned ihe next stag¢s of
the development and will continue to be the bench mark for engagement, audience development both in house, in
person and online as w¢ progress to the major capital investment and build stsge development in 2025. We have
also started to instl8ate paid advertisin8 linked to events and boosting posts to widen our audience beyond our
followers and this is proving a successful strategy of engagement. Figures do show that the majority of our
viewers are visiting the online posts for heritage related inforniation and as such we are instigating a newsletter
and email subsciiption list for event posting to incrcase ticket engagem¢nt. This has prov¢n very successful for
the weekend tours in particular with bookings through Ticket Source.
Fundraising
Our fund-raising strategy covers two aspects, the ongoing revenue costs of the building and prioritising larger
capital grants to achieve the necessary grants to instigate major restoration and regeneration of the theatre. Our
largest grant being delivered is th¢ CDF grant of which we are at the start of year 2 of the delivery. Further funding
initiatives range from smaller grnnts for specific restoration of decorative features, grants to develop our futur¢
capital works and ongoing costs of raising additional costs due to the increases of capital works. The following
grants have been highlighted as they fall within this financial period but the delivery of much of the activities will
fall into the next financial reports.

MORECAKBE WINTER GARDENS PRESERVATION TRUST LI￿￿tTED
(coTrtPANY LtfvirrED BY GUARAIYTEE)
TRUSTEES, ANNUAL REPORT
YEAR ENDED 30 MARCH 2025
(contlnued)
Developments and aehievements (eontinued)
UKSPF. In Febnwy 2024 an Expression of Interest and Business Case for continued project delivery for the UK
Shared Prosperity Fund (UKSPF) was submitted to Lancaster City Council with a successful confirn]ation of
award re￿ived on 6 March 2025 for £67,500. The grant rJ)mmences on the 4 April 2025 and is split into £43,000
revenue (towards event costs, the continuation of the Young Creatives with LMC, the continuation of ABB T
training initiatives of which part of this is matched to the CDF award and £17,500 capital for new initiatives. The
capital costs will contribute towards the restoration of the 5tained-glass windows in the th¢atre and essential work
to the fly tower with all work starttng from April 2025 and being completed by March 2026.
Morecambe TOWD CouDciI. In January 2025 an application to Morecamb¢ Town Council Community Fund was
submitted for funding towards the restoration of the stained-glass within ihe Winter Gardens. A fully costed report
was submitted by Pendl¢ Glass with an award of £7405 being successfully awarded at the end of March 2025 for
work to be undertak¢n from April 2025.
Tbealres Trust. Award of £8760 to Morecambe Winter Gardens Preservation Trust Ltd for work to support
accessibility development at Morecambe Winter Gardens was confirnied in March 2025. The grant award is to
fund the work to create an a¢c¢ssibility development strategy for Morecambe Winter Gardens including a fwst
safety plan and tratning for staff, volunteers and trustees. This funding will be committed and delivered in the
following financial period.
Building Management
The major part of the building matntenance in 2024 was the range of surveys required for the fvll building
regulations, Gontinuation of the weekly maintenance through the maintenance volunteers and to continue our
statutory reports r¢ the pl￿ter, f￿¢ regulations and ¢¢rtification. Hayles and Howe continued their annual
maintenance insP￿tion of the ceiling and plaster work and reported no furth¢r ingress currently, the LODA testing
certification was also undertaken and ¢l¢ared with additional testing and replacement of some of the lighting bars
on the CA￿1¢ and Upper Ixvels. Full r¢ports were und¢rtaken through the CDF grants and iThclud¢ structural
surveys, geological investigations for the new building and further investigations on the issues facing the Void.
Inforniation re￿ived during the full fwe report on the building initiat¢d further investigation within the Void with
th¢ additional structural work r¢sulting in a further £750,000 of additional wsts on th¢ project to incorporate this
into ihe full scherne. This become the main priority and necessitated a full risk analysis of the CDF project to
enable us to Continue thé ongoing project but with a risk register that incorporated these issues and the areas of
the building which would not be part of the new enhanced capacity. Herilage at Risk Historic England new fund
was announced in March 2025 with a submission for Eol in April 2025. The Preservation Trust will be submitting
a bid to this fund in order to achieve the necessary funding gaps and additional costs found through structural
issues in the Void as reported earlier. This very competitive fvnd has a turnaround of six weeks from Eol to full
submission and if successful we will be infornied in July 2025.

MORECAMBE WINTER GARDENS PRESERVATION TRUST LIMITED
(COMPANY LIMITED BY GUARANTEE)
TRUSTEES? ANNUAL REPORT
YEAR ENDED 30 MARCH 2025
(continued)
Developments and achievements (continued)
Event Management
The Winter Gardens opened again in Easter 2024 with new op¢ning hours of 12pm to 4pm and additional hours
relating to specific events. The tours retnained at twice daily per weekend with additional tour guides trained up
to take the increased demand. As part of our UKSPF and CDF funding we put together a community-based
arrangement with local organisations able to make us¢ of th¢ building during our weekly opening hours in the
main season including Morecambe Bay Art Fair in the first weekend in July (1&2) which saw over 40 local and
r¢gional artists s¢lling their artwork over the weekend period. Mor¢camb¢ Winter Gardens events in 2024. key
happenings included th¢ "SileDts by tbe Sea" festival An June and the 20 November both featuring classic silent
films with live music, hosted with Northern Silents with the November shows including Laurel and Hardy, and
Battleship Pokemkin. W¢ also Continud our bi-monthly organ perfonnance by our resident volunteer Mr Peter
Jetson whose Sunday afternoon eoncerts increased visitors and enabled a free perfom)ance for tourists and
residents alike. Our free largest events in this p¢riod in t¢rn]s of income, visitor numbers or profile included the
Continued partn¢rship with Vintage by the Sea {31St August to 1$1 S¢pt¢mb¢r) with enhanc¢d programming
enabling a wide range of content curated by Deco Publiqu¢ over the weekend which attracted over 7000 visitors.
September ¢ontinued to be our busiest month with over 14.000 visitors recorded including the third Morecambe
Po¢ty Festival held from 19th to the 22nd September which included poets such as Pam Ayres, Lemm Sissay,
Henry Nonnal, Mike Harding, Donna Ashworth, Robin Ince and many more. Radio 4 also broadcast two shows
from the Poety Festival with Key Radio 41BBC ConDe¢tions:
08e Ends Re¢ording: The festival opened with a special recording of BBC Radio 4's Loose Ends at
the Winter Gardens, featuring host Nihal Arthanayake and perforniers Henry Nonnal, Donna Ashworth,
Mike Harding, and The Lovely E88s.
The Verb Recordlng: Henry Nornial also recorded a set for anoth¢r BBC Radio 4 show, The Verb,
during the festival.
Festival Coverage: Local radio ststions lik¢ B¢yond Radio highlighted the BBC'S SI￿1r1¢ant presence
and coverage of the event.
Continuing our successful tour and afternoon tea offer from 2023 for specific special interest groups saw the visits
of the Blackpool Civic Trust, the Lancaster Civic Trust but bookings had been reduced in anticipation of the
building work being started. Due to the delays in the building contracts the venue then reopened briefly in
February 2024 for the third annual Baylight Festival which attracted just under 4000 visitors. The Winter Gardens
was th¢ main festival venue with large installations on both th¢ ¢xt¢rior and in th¢ interior OV¢T the shorter 2-day
period. Total visitor numb¢r from April 2024 to March 2025 was 51,125 with the split between free enty, tours
and live ticketed events as follows - Theatre Tours (340), Young Creatives {27) Events (35,281) and weekend
visitors non spexial events (15,477), a major increase on the previous year.
GoverDance
Reserves poliey• risk management and going con¢erD
The Trust currently employs three staff through external funding criteria so the present need for reserves is
minimal and building focused. These areas will be examined wh¢n funding streams from th¢ CDF3 relating to
revenue and staffing ar¢ finished in June 2026. The main object of the charity is the ownership and upkeep of the
Morecambe Winter Gardens. As the building has been empty for some time the interior, prior to the ownership of
the Trus¢ had fallen into a state of disr¢pair. As outlined our main goals were to increase revenue, enable greater
ons¢rvation and maintenance through Want funding

MORECAMBE WINfER GARDENS PRESERVATION TRUST LITrtrrED
(COMPANY LIMITED BY GUARANTEE)
TRUSTEES, ANNUAL REPORT
AR ENDED 30 IVIARCH 2025
(contiDued)
Governance (eontinued)
Reserves pollry) rlsk mADagement and gofing eoncern (conllnued)
The risks identified in the operational model we inherited have now been reviewed and fire assessments, health
and safety documents and event policies have been implemented successfully resulting in increas¢ revenue,
greater public trust and funding awards. All have continued to b¢ updated in lin¢ with ¢urr¢nt legislations and
incorporated into any future activities planned for the building. The volunteers and all Trustees involved in the
building operate under the Code of Conduct, and all inductions necessary for working with ihe Charity. All
individuals who did not or will not comply will no longer be a5so¢iated with the Charity and w¢ have now
implemented the following procedures and safeguards.
Trustee meetings to consider and revi¢w the risks the charity may face.
Written Systems and procedures to mitigate those risks identified.
The implementation of procedures designed to minimise any potential impact on the charity should any
of those risks materialise.
Purpose of the ebarity's funds
The charity operates two types of funds:.
The Unrestricted Fund is u￿d for operating the Charity.
Some of the unrestricted fund can be allocated by the trustees for specifie purposes. The trustees
have set up a d¢signat¢d fixed asset fund to match th¢ book value of f￿¢d assets l¢ss loans secured
on them.
Restricted Funds are s¢t up for specific purposes and moni¢s received may only b¢ used for that
purpose. Funds may typically be generated from sponsorships, donations and lottery grants.
PIAns for future perfods
Complete tender and appoint a construction company for the large capital build
Finalise all planning conditions required in the final planning and submission of RJBA 6
Develop a strategy for any funding deficits especially in light of delays with the project
• Develop event strategy alongside a strong community offer and continue to programme a mixture of
ommunity and ¢omm¢r¢ial cvents
Be an active part of larger festivals within th¢ town including Morecamb¢ Music F¢stival
Continue to operate and deliver the revenue programme and Young Cr¢atives as part of the UKSPF and
CDF with Lancast¢r and Morecambe College
the process of EOI for Heritag¢ Lottery bas￿ on the successful work done by lh¢ Visitor Busin¢ss
Encr¢as¢ r¢v¢nu¢ to ensure our matching fund targets for the CDF of £50.000 is within target.
RespoDsibilitieg of the tnistees
The truste¢s (who ar¢ also th¢ directors of Mor¢camb¢ Winter Gardens Preservation Trust Limited for the
purposes of company law) ar¢ r¢sponsible for preparing the Trustees Annual Report and the financial statem¢nts
in accordancx with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Aecept¢d Accounting Practice).

MORECAMBE WINTER GARDENS PRESERVATION TRUST LIlkUTED
(COMPANY L￿zTED BY GUAII4NTEE)
TRUSTEESP ANNUAL REPORT
YEAR ENDED 30 MARCH 2025
(continued)
Responsibilltieg of the trustees (continued)
Company law and law applicable to ¢harities in England and Wales requires the trustees to prepar¢ financial
statements for each financial year which give a true and fair view of the stat¢ of affairs of the charitable company
and of the incoming r¢sour¢es and application of resources, including the income and expenditure, of the
haritable company for that period. In preparing these financial statements, the trustees are required to'_
Select suitable ￿cOUntIng policies and then apply them consistently.
observe the methods and principles in th¢ Charities SORP;
make judgements and estimates that are reasonable and prudent.
state whether applicabl¢ UK Accounting Standards have been followed, subject to any material deparfures
disclosed and explain¢d in the financial statements;
prepare the financial ststem¢nts on the going concern basi$ unless it is inappropriate to presume that th¢
charitable company will continue in operation.
The trustees are responsibl¢ for keeping proper accounting record5 that disclose with reasonable accuracy at any
time the financial position of th¢ charitable company and enable them to ensure that the financtal statements
comply with the Compani¢s Act 2006 and the Charities Act 2011. The trustees are also responsible for
safeguarding the ass¢ts of the Charitable company and hence for taking reasonable steps for the prevention and
detextion of fraud and other irregularities. The Trust is currently recruiting two &dditional Trustee5 and will be
working with Voluntary Acton Lancaster on reviewing and recruitment of these posts subject to volunteer
expansion. In $0 far as the t￿slee8 are aware at the time of approving our trustees, annual report:
there is no rcl¢vant audit inforniation of which th¢ charitable company's auditor is unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant
audit information and to estsblish that the auditor is aware of that infonnation..
Audilors
A resolution to re-appoint John Potter & Harrison as auditors for the ensuing year will be proposed at the annual
genernl meeting in accordance with Section 487(2) of the Companies Act 2006.
Small Company Prnvisions and Approval
This Report has been prepared in accordance with the provisions applicable to companies entitled to the small
compani¢s exemption.
Approved by the Board
nistees and signed on its behalf by:
Trustee
Date:
Registsred Office:
209 Marine Road West
Morecambe
Laneashire
LA4 4BU
Company registration number: 5556536

MORECAMBE wIwfER GARDEIYS PRESERVATION TRUST LIMITED
(coTrtPANY LIMITED BY GUARANTEE)
ll¥DEPENDE￿ AUDITOR'S REPORT
TO THE MEMBERS OF
MORECAMBE wINfER GARDENS PRESERVATION TRUST Lll￿lTED
Oplnlon
We have audited the ftnancial stst¢ments of Morecambe Winter Gardens Preservation Trust for the year ended 30
March 2025 which comprise the gTOUP Statement of financial activities, the group and parent company statement
of financial position and the notes to the ffftancial statements. including a summary of significant ￿oUnting
policies. The financial reporting framework that h&8 been applied in their preparation is applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally
Accepted Accountin8 practi￿).
In our opinion, subject to the matters reported on by exception b¢low, the fmancial statements:
give a tru¢ and fair view of th¢ stat¢ of th¢ group's and of the Charitable company's affairs as at 30 March
2025 and of its incomin8 resources and application of resources for the period then ended;
have been properly prepared in a¢cordanL* with United Kin8dom Generally Accepted A¢countin8 Practice;
and
have b¢en prepared in ￿cOrdance with the r¢quir¢ments of the Companies Act 2006.
Basly for oplnlon
We conducted our audit in a¢cordanc¢ with applicable law and International Standards on Auditing (UK) (ISAS
(UK)). Our responsibilities under those standards are further describ¢d in the Auditor's responsibilities for the
audit of the financial statements section of our report. We are independent of the group and Charitable company
in accordance with the ethical requirements that are relevant to our audit of the financtal statements in the UK.
includin8 the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with
these requir¢ments. We believ¢ that the audit ¢vid¢nce we have obtained is sufficient and appropriate to provide
a basis for our opinion.
Conelusions relatiDg to golng ¢oncern
In auditing the financial statements. we have Concluded that the trustees, use of the going concern basis of
a￿oUntIng in the preparntion of th¢ financial slatements is appropriate.
Based on the work we have perfornied, we have not identified any material uncRrtainties relating to events or
conditions thaL individually or coll¢¢tiv¢ly* may cast signifx¢ant doubt on the charitable company's ability to
continue as a 80in8 concern for a period of at least twelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the trustees with resp￿1 to going concern are described in th¢
relevant sections of this report
Other iDformatlOD
The other inforniation comprises the infonnation included in the annual report, other than the fmancial statements
and our auditor's report thereon. The tTUStees are responsible for the other inforniation. Our opinion on the
financial statements does not cover the other inforniation and, except to the extent otherwise explicitly stated in.
our repor( w¢ do not ¢xpr¢ss any forni of assurance conclusion thereon.
10

MORECAMBE WINTER GARDENS PRESERVATION TRUST LIMITED
(COMPANY LIMrrED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF
MORECAMBE WINTER GARDENS PRESERVATION TRUST LtMrrED
(continued)
Otber information (continued)
In connection with our audit of the financial statements. our responsibility is to read the other inforniation and. in
doing so, consider whether the other inforniation is materially ineonsistent with the financial statements or our
knowledge obtained in th¢ audit or otherwise appears to b¢ materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a rnaterial misststement of the other inforniation. If, based on the work
we have perfornied. we conclude that there is a material misstatement of this other inforniation, we are required
to report that fact.
We have nothing to report in this regard.
Opinions OD Other matters prescribed by tbe Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
th¢ inforniation given in the trustees, report (incoTporatAng the dir¢¢tors' report) for th¢ fJnan¢ial period for
which the financial statements are prepar¢d is Consistent wilh th¢ fjnancial statements. and
the truste¢s' report has been prepared in accordance with applicable legal requirements.
Matters on which we Are required to report by exceptlon
In the light of our knowledge and understanding of the group charitable company and its environment obtained
in the course of the audit. we have not identifi¢d misstatements in the trustees, report.
We hav¢ nothing to report in respect of the following matters in r¢lation to which th¢ Companies Act 2006 requires
us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received
from branches not visited by us, or
the group financial statements are not in awment with the accounting r¢cords and returns; or
certain disclosures of trustees, remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit" or
th¢ trustees were not entitled to prepare the financial stat¢ments in accordance with the small compani¢s'
regime and take advantag¢ of the small companies ex¢mptions in preparing the trustees, report and from the
r¢quirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement (set out on pages 7-8). the tnistees (who are
also the directors of the charitable company for th¢ purposes of company law) are responsible for the preparation
of the financial statements and for being satisfied that they give a tru¢ and fair view. and for such internal control
as the trustees deterniine is necessary to ¢nabl¢ th¢ preparation of group financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statsments, the trustees ar¢ responsible for assessing the group charitable company's
ability to aintinue as a going, concern, disclosing. as applicable, matters related to going conc¢rn and using the
going concern basis of accounting unless the trustees either intend to liquidate the group charitable company or
to cease op¢rations, or hav¢ no realistic alternatiiie but to do so.
11

MORECAMBE WINTER GARDENS PRESERVATION TRUST LIMITED
(COMPANY LI￿llTED BY GUARAiYfEE)
INDEPENDENT AUDITOR'S REPORT
TO THE 1￿mBERs OF
MORECAMBE wIwfER GARDENS PRESERVATION TRUST LIMITED
(Continued)
Auditor's respon8ibilities for the audll of the financi418latements
Our obj¢¢tiv¢s are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatemen( whether due to fraud or error. and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarant¢e that an audit ￿ndUCted in a¢cordanc¢
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in th¢ aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these financial statements.
Irregularities. including fraud, are instances of non-compliance with law$ and regulations. We design procedures
in line with our responsibilities, outlined above, to detect matertal misstatements in respect of irregularities,
including fraud. Th¢ specific procedures for this engagement and the extent to which these are capable of
detecting irregularities. including fraud is detailed below. Our approach to identtfying and &ssessing the risks in
respect of irregularities and non-compliance with laws and regulations, was as follows..
th¢ senior statutory auditor ensured that the engagement team colle¢tively had the appropriate
competenc¢, Capabilities and skills to identify or recognise non-compliance with applicable laws and
regulations;
we identifted the laws and regulations applicable to the company through discussion$ with the trustexs
and other management;
w¢ focus¢d on specific laws and regulations which we considered may have a direct mat¢rial eff¢¢t on
the f￿ancial stst¢ments or the operations of the company, including the Companies Act 2006, th¢
Charities Act 201 I, taxation legislation and data protection, anti-brib¢ry, ¢mploym¢nL environmental aftd
health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management and inspecting correspondence. and
identified laws and regulations were communicated within the audit t¢am r¢gularly and th¢ team remained
alert to Instan￿ of non-compliance throughout the audit.
We assessed the Susceptibility of the charity's f￿ancial statement to material misstatemenL including obtaining
an understanding of how fraud might occur, by:
making enquires of trustees as to where they considered there was susceptibility to fraud. their knowl¢d8e
of actual and alleged fraud. and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.
To address the risk of fraud through trustee bias and override of ￿ntrolS, we".
perfornied analytical procedur¢s to identify any unusual or unexpected relationships; and
investigated the rationale behind significant or unusual transactions.
12

MORECAMBE wIKfER GARDENS PRESERVATION TRUST LIMLTED
(COMPANY LtMITED BY GUARANTEE)
YDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF
MORECAMBE wIwfER GARDENS PRESERVATION TRUST LIMITED
(continued)
Auditor's regponsibilities for the audit of tbe financial statements (continued)
In r¢spons¢ to the risk of irregularities and non-compliance with laws and regulations, w¢ d¢signed procedures
which included, but were not limited to:
agr¢¢ing the financial statement disclosures to underlying supporting documentation;
reading the minutes of meetings of those charged with governance;
enquiring of trustees as to the actual and potenti81 litigation claims; and
r¢vi¢wing correspond¢nc¢ with relevant regulators.
No instances of material non-complianc¢ wer¢ identified.
Because of the inherent limitations of an audit, there is a tisk that we will iiut detect all irrogularities, includin8
those leading to a material misstatement in th¢ financial stst¢m¢nts or non-compliance wtth regulation. This risk
increases the more that compliance with a law or regulation is r¢mov¢d from the events and tranS￿tionS reflected
in the fmancial statements, as we will be less likely to becom¢ aware of instances of non-¢ompliance. The risk is
also greater regarding irregularities occurring due to fraud rather than ¢rror, a5 fraud involv¢s int¢ntional
coneealmen¢ forgery. collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial stat¢m¢nts is located on th¢ Financial
Report Council's website at.. www
.uk/au
it
This description forn)s part of our auditor's
report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable
company's members thos¢ matters w¢ ar¢ required to state to them in an auditor's report and for no other purpose.
To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone other than the
charitable company and the charitable company's members as a body, for our audit work, for this report. or for
theo
nio
we have fo
Ifdn Riding F.C
A. (Se
For and on behalf of
John Potter & Harrison
Chartered Accountants & Statutory Auditor
1121114 Whitegate Drive
Blackpool
LaDcashire
FY3 9XH
or Statutory Auditor)
Date:
13

MORECAMBE w￿ER GARDENS PRESERVATION TRUST LITrtITED
(COMPANY LINIITED BY GuAR￿EE)
CONSOLIDATED STATEMENT OF FllYANCIAL ACTIVITIES
(INCORPORATtNG THE INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 30 MARCH 2025
Totsl
Funds
2025
Total
Funds
2024
Unrestri¢ted Re8tri¢ted
fund
fund
Note
Income:
Donations and legacies
Income from charitable activities:
Operation of a theatre
Income from other trading activities:
Commercial trading operation
40,566
40,566
36,678
30.955
538,698
569,653
76.708
55,389
55,389
52,134
Totsl Incomlng resources
126.910
538,698
665,608
165,520
Expenditure:
Costs of raising funds:
Commercial trading operation
Expenditure on charitable activities:
Operation of a theatre
(11,016)
(11,016)
(6,917)
(56,911) (95,618) (152,529) (108,856)
Totsl reJoureeJ expended
(67,927) (95,618) (163,545) (115,773)
Net IDgoiDyI(outgoing) resources before transfers
58,983
443,080
502,063
49,747
Transfer between funds
Net incomel(expended) re80urce8 for the perlod
58,983
443,080
502,063
49,747
Total funds brought forw
457, 126
777,615 1,234,741 1,184,994
Totsl funds carried forwanl
516,109 1,220,695 1,736,804 1,234,741
The stat¢m¢nt of Financial Activities includes all gains and loss￿ in the period and therefore a statement of total
recognised gains and losses has not been prepared.
All the above amounts relate to ￿ntinUIng activities.
The nol&¥ on pages 18 to 30 fonn part of tbtse fiDJn¢ial statements
14

MORECAMBE WllYTER GARDENS PRESERVATION TRUST LIMITED
{coiItPANY LllVIITED BY GUARANTEE)
CONSOLIDATED BALANCE SHEET
AS AT 30 TrL4RCH 2025
2025
2024
Note
Fixed assets
Heritage asset
Tangible assets
10
1,692,926 1,217,121
8.611
4,477
J,701,537 1,221,598
Current assets
Debtors
Cash at bank
13
53,739
183,562
12,000
242,884
237,301
(l14,965)
254,884
(146,835)
, Creditor8: Amounts falling due within one year 14
Net current asgets
122,336
108,049
Tolal assets less current liabilities
Creditors: Amounts falling due after one year
1,823,873 1,329,647
(87,069) (94,906)
15
Net a&gets
1,736,804 1,234,741
Fundj
Morecambe Winter Gardens Limited
Restricted income funds
Unrestricted income fi￿d$
16
17
1.220.695
516.108
777,615
457,125
Tolal funds
18
1.736,804 1,234,741
The lJustees have prepared group accounts in accordance with Section 398 of th¢ Companies Act 2006 and Section
l38 of the Chariti¢s Act 201 l. These aLYounts are ptEpared in accordanrx with the special provision5 of part 15 of
the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act
2006 and ar¢ for Circulation to members of the L￿Mpany.
The fmancial statements were approv
b¢half by:
the members of the commitr on
Truslee:
V 49￿L
Company Registration Number: 5556536
The notes on pages 18 to 30 forni part of these financial statements
15

MORECAMBE WINTER GARDENS PRESERVATJON TRUST LIMITED
(COMPANY LIMITED BY GUARAIYTEE)
CHARITY BALANCE SHEET
AS AT 30 fvI4RCH 2025
2025
2024
Note
Fixed assets
Heritage asset
Tangibl¢ assets
tnvestm¢nts
10
1,692.926 1,217,121
8,611
4,477
100
100
12
1,701,637 1,221,698
CurreDt wets
Debtors
Cash at bank
59,717
177,483
57,116
197,667
237,200
(114,965)
254,783
(146.835)
Credltors: Amounts falling due within one year
Net current asgets
122,235
107,948
Total &9gets less current liabilities
1,823,872 1,329,646
Credllon: Amounts fallin8 dug after one year
(87,069) (94,906)
Net &8gets
1,736,803 1,234,740
Funds
Restricted income funds
Unrestricted income funds
I,220.695
516,108
777,615
457,125
Total fuDds
1,736,803 1,234,740
Thes¢ fmancial ststements hav¢ been prepared in ￿ordanCe with the provisions applicable to companies subject to
the small company regirn¢ and in accordance with FRS102 "The Financial Reporting Stsrtdard applicable in the UK
and R¢publi¢ of Ir¢land"
The financial statem
their behalf by:
were approved by th¢ members of th¢ Committee on ..............
..and are signed on
Company Registration Numb¢r: 5556536
The notes on pages 18 10 30 forni part of tbese financial slatements
16

MORECAMBE WINTER GARDENS PRESERVATION TRUST LIMrrED
(COMPANY LllllTfED BY GUARANfEE)
STATEMENT OF CASH FLOWS
YEAR ENDED 30 MARCH 2025
2025
2024
Casb lknvs from operating activitie8
Net income
502.063
49,747
Adjustments for:
Depreciation of tangible fixed assets
Other interest receivable and similar income
2,871
1,492
Changes in:
Trade and other debtors
Trade and other creditors
(41,739)
(31,963)
46,669
124,685
Cash generated from operations
431,232
222,593
Interest received
Net cash from operating activities
431,232
222,593
Casb tIow8 from investlDg
Capital exp¢nditure
(482,810) {44,248)
Cash flows from finan¢iDg
Loan payments
(7,744)
(7,164)
Net (de¢re&geyincrease in c&sb ADd equivalents
Cash and cash equivalents at beginning of year
(59,322)
242,884
71,703
Cash and Cash equlvaleDts at end of year .
l83,562
242,884
The notes on pages 18 to 30 forni part of tbese financial statements
17

MORECAMBE WINTER GARDENS PRESERVATION TRUST LIM]TED
(COMPANY LIhifrED BY GUARANfEE)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 MARCH 2025
General information
The charity is a public benefit entity and a privat¢ company limited by guarantee, registered in England and
Wales and a registered charity in England and Wales. The address of the registered office is 209 Marine
Road West, mO￿aMbe, LA4 4BU.
Statement of complianee
These f￿ancIal ststements have been prepar¢d in Compliance with FRS 102, 'The Financial Reporting
Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial R¢porting Standard
applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies
Act 2006.
Aeeountlng pollcies
Bul$ of preparatlOD
The financial ststements have been prepared on the historical cost basis, as modified by the revaluation of
certain fmancial assets and liabilities and investment properties measured at fair value through in¢om¢ or
expenditure.
The financial statements are prepared in stsrlin& which is ih¢ functional currency of th¢ entity.
Group financial stAtements
The financial statements consolidate the results of the Charity and its wholly owned subsidiary Morexambe
Winter Gardens Limitsd on a line by line basis. A separate stat¢ment of financial activities and income and
expenditure account for the Charity h&s not been presented because the Charity has taken advantage of the
exemption afforded by Section 408 of th¢ Companies Act 2006.
Golng eoncern
There are no material un¢¢rtatnti¢s about th¢ charity's ability to ¢ontinu¢.
Judgements and key sources of estirnation un¢ertaiDty
The preparation of the financial statem¢nts requires management to make judgements, estimates and
assumptions that affect the amounts reported. Th¢s¢ estimates and judgements ar¢ continually reviewed and
are based on experience and other factors, including ex￿¢tationS of futur¢ events that are believed to be
reasonable under th¢ Circumstances.
18

MORECAMBE wnyTER GARDENS PRESERVATION TRUST LIMITED
(COMPANY LINllTED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (¢oDtinued)
YEAR EIYDED 30 MARCH 2025
Aec.ovnting policie$ (continued)
Income tax
The company ts considered to pass the tests set out in Sch. 6. para. l of the Finance Act 201 O and therefore
it meets the definition of a charitable company for UK corporation tax purposes. Aecordingly, the company
is potentially exempt from taxation in respect of in¢om¢ or capital gains received within categories covered
by Pt. I I, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to
the extent that such income or gains are applied exclusively to charitable purposes.
DoDatlons and graDts
Income from donations and grants, including capital grants, is inelud¥d iii incornin8 resources whp.n thes¢
ar¢ receivable.
Fund a¢eouDtiDg
Funds held by the charity ar¢ eith¢r:
Unrestricted Funds - these are funds which can be used in accordance with the charitable objects at the
discretion of the dtr¢ctorsltruste¢s.
Restricted Funds - these are funds that can only be used for particular restricted purpose5 within the objects
of the charity. Restrictions arise wh¢n specifi¢d by the donor or when funds are raised for specific restricted
purposes.
Further explanation of the nature and purpose of each funds is included in the notes to the Accounts.
Resources expended
Costa of generating fimds
Costs of generating funds includes all ¢xp¢nditure directly related to the incoming resources from activities
for generating funds together with those costs associated with supporting these activities, including staff
costs.
Charitable activities expenditure
Charitable activities expenditure includ¢s all expenditure directly related to the provision of advisory services
under the objects of the charity together with those costs associated with supporting these activities. including
staff, ¢stablishm¢nt and other overhead cost. Thes¢ support costs are shown s¢parat¢ly within the notes to
those accounts.
Governance costs
These are the costs associated with ihe governance arrangem¢nts of th¢ Charity which relate to the general
running of the charity as opposed to those costs associated with fundraising or charitsble activity. Th¢s¢
costs will norn)ally include audi( legal advice for trustees and costs associated with constitutional and
statutory requirements.
19

MORECAMBE WINTER GARDENS PRESERVATION TRUST LIMITED
(COMPANY Lll￿lITED BY GUARANTEE)
NOTES TO THE FINANCL4L STATEMENTS (eontinued)
YEAR ENDED 30 MARCH 2025
Accounting policies (eontiDued)
Resourees eipeDded (continued)
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are
held separately from those of the charity. The annual contributions payable are charged to the Statement of
Financial Activiti¢s.
Heritage asaet
The Morecambe Winter Gardens is a grade 2* listed building record¢d at cost.
It is the policy of th¢ trust to improve and maintain this asset and accordingly in the opinion of the trust¢¢s
the life of this ass¢t is so lon8 and the residual value so high that its depreciation is not $i￿1f1cant.
Flxed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to WTite off th¢ cost of an asseL l¢ss its ¢stimated residual value, over the
useful economic life of that asset as follows..
Fixtures, fittings and equipment- 250/0 p.a. reducing balance
Impalnnent of r￿ed asgets
A review for indicators of impairn)ent is carried out at each reporting date, with the recoverable amount being
estimated where such indicators exist. Where the carying value exceeds the recoverable amoun( the asset
is impaired accordingly. Prior impairmtnts are also reviewed for possible reversal at each reporting date.
For the purposes of impairnient testing* when it is not possible to estimate th¢ rwoverable amount of an
individual asset, an estimate is made of the recoverable amount of the cash-gen¢rating unit to which th¢ asset
b¢longs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and
g¢n¢rates cash inflows that are largely independent of the cash inflows from oth¢r ass¢ts or group of assets.
20

MORECAMBE WINTER GARDEIYS PRESERVATION TRUST LllkllTED
(COMPANY Lll￿1[[ED BY GUARA￿rEE}
NOTES TO THE Fll¥ANCIAL STATEMENTS (continued)
YEAR EIYDED 30 MARCH 2025
Accounting policie8 (continued)
Flnancial iDslruments
A financial asset or a financial liability is reLognis¢d only when the charity b¢comes a paty to the
contractual provisions of the instrument.
Basic fmancial instruments are initially recognised at the amount receivable or payable including any
related transaction costs.
Current assets and current liabilities are subsequently measured at the Cash or other consideration expected
to be paid or received and not discounted.
D¢bt instrum¢nts are subsequently measured at amortis¢d costs.
Other financial instruments are initially recognised at fair value, unless payThent for an asset is deferred
beyond nornlal business ternis or financed at a rate of interest that is not a market rat¢, in which cas¢ the asset
is m¢asured at th¢ present value of the future payments discount¢d at a market rat¢ of interest for a similar
debt in5trum¢nt.
Financial ass¢ts thal are measured at cost or amortised cost are reviewed for objective evidence of impairment
at the end of each reporting date. If there is objectiv¢ evidence of impairnient, an impainnent loss is
recognised under the appropriate heading in th¢ statement of financial activities in which the initial gain w&8
recognised.
For all ¢quity instnlln¢nts regardless of significance, and other financial assets that are individually
significant, these are assessed individually for impairnient. Other f￿anCIal &8sets are either assess¢d
individually or grouped on the basis of similar credit risk charnct¢ristics.
Any reversals of impaiment are recognised immediately, to the extent that the reversal does not result in a
carrying amount of the financial asset that exceeds what the carrying amount would have been had the
impairn]¢nt not pr¢viously been recognised.
Defined CODlribution plan8
Contributions to defined contribution plans are recognised as an expense tn the period in which the related
services 15 provided. Prepaid contributions are recognised as an asset to the extent that the repayment will
lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date
in which th¢ employees r¢nd¢r th¢ fflated service, the liability is measured on a discounted present day value
basis. The unwinding of the discount is recognis¢d as an ¢xp¢nse in the period in which it arises.
21

MORECAMBE wINfER GARDENS PRESERVATION TRUST Lll￿lITED
(COMPANY LI￿lITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (eontinued)
YEAR ENDED 30 MARCH 2025
AceouDting policies (¢oDtinued)
Company limited by guarnntee
Morecambe Winter Gardens Preservation Trust Limited is a company limited by guarantee and accordingly
does not have a share capital. The T￿￿teeS (who are also directors) are named on page l. In the event of
the charity being wound up, the liability in respect of the guarante¢ is limited to £10 per member of the
charity.
Turnover
Turnover comprises the amounts receivable from donations, events, rents, theatre hir¢ and other fundraising
activities during th¢ period. aft¢r deduction of VAT wh¢r¢ applicable.
In the opinion of the trnstees, none of the turnover of the company is attributable to geographical markets
outside the UK.
Donations and legacie4
Total
Funds
2025
Total
Funds
2024
Unrestricted Reslrieted
FuDd$
Funds
Donations:
Crowd funding
Other donations
Legacy
8,311
18,367
i 0,000
11,066
29,500
11,066
29,500
40,566
40,566
36,678
22

MORECAMBE WINTER GARDENS PRESERVATIOIY TRUST LIMITED
(COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 MARCH 202S
S. Commercial trading operntions
The commercial trading company is Morecambe Winter Gardens Limited who operate the bar and catering
facilities within the theatre.
A summary of its trading results is shown below:_
2025
2024
Fund raising
Donation
53.439
1,950
51.734
400
5S,389
Cost of sal¢s
Barth charg¢$
Sundry
10,193
6.657
79
181
823
11,Ol6
6,917
44,373
44,373
45,217
45,217
Amount gifted to company
The ass¢ts and liabilities of the subsidiary company were:_
Current assets
Cr¢ditors: amounts falling due within one year
6,079
45,217
(5,978) (45,116)
101
Aggregate share capital and r¢s¢rves
23

MORECAMBE WThTER GARDENS PRESERVATION TRUST LIMITED
(COlklPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 MARCH 2025
6. Operallon ora theatre
Total
Funds
2025
Total
Funds
2024
UDreslrieted Restricted
Funds
Funds
Grants:
. Theatres Trust
Arts Council En8land
Lancaster City Council
University of Sheffield
Pilgritn Trust
Moreeambe BID
Rents re£%ivable
Hire of theatre
Ticket sales
4,836
348,578
180,819
2,465
4.836
348.578
180,819
2.465
6,157
33.732
4,786
12,000
2,000
2,(K)O
16,400
l3,066
I,489
16,400
13,066
1,489
13,533
6,500
30,955
538,698
569,653
76,708
7. Analysis of expenditure on ¢baritable activities
Total
Funds
2025
Total
Funds
2024
Unrestrieted Restricted
Funds
Fundj
Wages and salaries
Pension Lxists
Event costs
Repairs and maintenance
Premises costs
Office costs
Accountancy fees
Audit fees
Sundry expenses
Bank charges
Loon interest
Depreciation
Professional fees
47,509
648
8,116
2,000
47,509
648
8,116
10,643
35,589
10,280
2,200
1,000
1,794
29
2,929
2,871
28,921
8,643
35,589
3,484
2,200
1.000
1,794
29
2,929
I,243
10202
34,098
2,719
1,400
600
7,619
l7
3,625
1,492
47,084
6,796
l.628
28.921
56,911
95,618
152,529
108,856
24

MORECAMA BE WINTER GARDENS PRESERVATXON TRUST LIMrrED
(COMPANY L]MtTED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 MARCH 2025
Net incoming resources for the period
This is stated after Charging:
202S
2024
D¢preciation
Bank loan interest
Auditor&' remuneration:
- accountancy
- audit of the fffiancial statements
2,871
2,929
1,492
3,625
2,200
I,000
1.400
600
9. Staff costs
The total staff costs and ¢rnployee benefits for the reporting period are analysed as follows:
2025
2024
Wages and salaries
Social security Costs
Employ¢r contributions to p¢nsion plans
47,509
648
48,157
The average head count of employees during the year was 3 (2024: Nil).
10. Corporatlon tax
No provision for taxation is made in these accounts as the company, being a r¢8lSt¢red charity, is ¢x¢mpt
from UK corporation tax.
25

MORECAMBE WINTER GARDENS PRESERVATION TRUST LIMtTED
(COMPANY LIM￿ED BY GUARAiYfEE)
IYOTES TO THE FINANCIAL STATEMENTS {eoDlinued)
YEAR ENDED 30 MARCH 2025
I l. Heritage asset
Freehold A¢qui8ltlon
Property
Costs
Totsl
Cost
At 31 March 2024
Additions
Disposals
1.213.943
475,805
3,178 1,217,121
475,805
At 30 March 2025
1,689,748
3.178 1,692,926
DepreclatloD
At 31 March 2024
Charge for the period
At 30 March 2025
Net book valu¢
At 30 Mareb 2025
1,689,748
3,178 1,692,926
Iyet book value of restrieted wets
1,243,322
1,248,322
At 30 Marcb 2024
1,213,943
3,178 1,217,121
Summary Analyglg of Herllage asset trnnsactloo
2025
2024
2023
2022
2021
PUrch￿S
475,805
44,248
46,747
472,760
301,499
The Arts Council hav¢ agreed to grant capital funding secured by a fwst fixed legal charge over the
freehold interest in the property.
26

MORECAMBE WllYTER GARDENS PRESERVATION TRUST LIMITED
(COMPANY Lll￿ITED BY GUARANTEE)
NOTES TO THE FtNANCL4L STATEMENTS (contlDued)
YEAR ENDED 30 MARCH 2025
12. Tangible fixed assets
Fixtures
Fittings &
EquipmeDt
Total
Cost
At 31 March 2024
Additions
Disposals
20,876
7,005
20,876
7,005
At 30 Marcb 2025
27,881
27.881
Depreciation
At 31 March 2024
Char8e for the period
16,399
2,871
16,399
2,871
At 30 March 2025
19,270
19,270
Net book value
At 30 MArch 2025
8,611
8,611
Net book value of restrlcled assets
4,883
4,883
At 30 Mgrth 2024
4,477
4,477
13. Investments
2025
2024
Sha￿$ held in Morecambe Winter Gardens Limited
100
100
The charity holds 100 ordinary shares of £1 each in its wholly owned trading subsidiary company Morecambe
Winter Gardens Limited which w&$ incorporated in the United Kingdom on 20 February 2013. The principal
activity of Morecambe Winter Gardens Limited is th¢ provision of fund rdising facilities for Morecamb¢
Winter Gardens which is operated by Morecambe Winter Gardens Preservation TNst Limited.
14. Debtors
2025
21n4
Other debtors
53,739
12.000
53.739
12,000
27

MORECAMBE WINTER GARDENS PRESERVATION TRUST LIMtTED
(coTrtPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR EIWED 30 NIARCH 2025
15. Creditors: Amounts fallin% due withiD one yeAr
2025
2024
Loan: Lancaster City Council
Santander
Deferred income
Other taxation and social security
A¢cruals
3,143
4.600
68,594
1,937
36,691
3,050
4.600
82,597
2,713
53,875
114,965
146,835
The loan from Lancaster City Council is secured by a ￿0ndary f￿ed legal charge over the freehold interest in
the propety.
16. Credllors: Amounts falling due after one year
2025
2024
Unsecured bank loan (falling due in less tlwi 5 y¢ars)
S¢cur¢d bank loan (falling due in less than 5 years)
Secured bank loan (falling due aft¢r 5 years)
827
l2,572
73,670
5,427
12,200
77,279
87,069
94,906
17. Restricted iD¢ome funds
Balance at
31.03.24
Incomlllg
resources
Outgolng Balance At
expended 30.03.25
Theatres Trust
Historic England
Architsctural Heritage
Arts Council of England
Lancaster City Council
University of Sh¢ffi¢ld
Coastal Communities Fund
Pilgrim Trust
Crowd Funding and donations
Legacy
Morecambe BID
199
585,899
25,000
4.836
(4.836)
l99
585,899
25,000
287.288
155.792
348,578
180,819
2,465
(61,290)
(25.027)
(2,465)
96,220
12.000
53.297
5,000
96,220
12,000
53,297
5,000
2.000
(2,000)
777,615
538.698
(95.618) 1,220,695
28

, MORECAMBE w￿ER GARDENS PRESERVATION TRUST LI￿llTED
(COMPANY LIMrfED BY GUARAKfEE)
NOTES TO THE FINANCIAL STATEMEiYfs (continued)
YEAR ENDED 30 MARCH 2025
18. Unrestricted iDeome fuDd8
Balante at Incoming Outgoing
31.03.24 resources expended Transfers
Balance at
30.03.25
Fixed assets purchased from
general funds to date
General funds remaining
351,454
105,671
7,493
358,947
157,161
126,910 (75,420)
457,125
126,910
(75,420)
7,493
516,108
The r￿ed asset part of the fund reprexnts the net book value of tangible fixed assets not held in restricted funds
less any loans secured on the assets. Each year an amount is transfetTed to or from the fund to reflect the current
value of the tangibl¢ fixed assets not held in restricted funds at the year end, The amount r¢mainin8 in gen¢ral
funds represents the funds remaining available for future expenditure.
19. AnAtysis of net &&sets between funds
Net
Tanglble
Current
fixed asse￿1
asgets Oiabilitie8)
Total
Restricted income funds:
Theatres Trust
Historic England
Architectural HeriL9ge
Co&stal Communiti¢s fund
Pl1￿lM Trust
Crowd Funding
L¢gacy
Arts Council of England
Lancaster City Council
199
585.899
25,000
96.220
12,000
53.297
5,000
287,288
155,792
585.899
25,000
96.220
12.000
53,297
5,000
287.288
155,792
1,220.695
1,220,695
Unre41rlcled income funds:
Morecambe Wint¢r Gardens Limited
Desi￿ated funds
G¢n¢rnl funds
358,947
358.947
157,161
157,161
358.947
157,162
516.109
Total funds
1,579,642
157,162 1,736.804
29

MORECAMBE W￿R GARDENS PRESERVATION TRUST LI￿llTED
(COMPANY Lllkl￿ED BY GUARANTEE)
NOTES TO THE FINANCL4L STATEMENTS (continued)
YEAR ENDED 30 MARCH 2025
20. Capltal eommitmeDts
The Charity is committed to a capital project of enhancement to the theatre which is being funded by the Arts
Council of England and Lanc&8ter City Council.
21. Related party transactions
No tnistee nor any persons rA>nnect¢d with them have received any remuneration from the Charity. The charity
has not paid any ¢xp¢ns¢s Incurr￿ by th¢ trustees for services provided to th¢ ¢harity (2024: £NIL).
30