**REGISTERED CHARITY NUMBER: 1117054** 

**REPORT OF THE TRUSTEES AND AUDITED GROUP CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR LOWTHER GARDENS LYTHAM** 

Rushtons Chartered Accountants Avroe House Avroe Crescent Blackpool Business Park Blackpool Lancashire FY4 2DP 



## **LOWTHER GARDENS LYTHAM** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** 

||Page|
|---|---|
|Legal and Administrative Details|1|
|Report of the Trustees|2|
|Independent Auditors’ Report|7|
|Consolidated Statement of Financial Activities|11|
|Consolidated Balance Sheet|12|
|Charity Balance Sheet|13|
|Consolidated Cash Flow Statement|14|
|Notes to the Financial Statements|15|
|Detailed Statement of Financial Activities|28|





## **LOWTHER GARDENS LYTHAM** 

## **LEGAL AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2024** 

## **REGISTERED CHARITY NAME** 

Lowther Gardens Lytham 

## **CHARITY NUMBER** 

## **PRINCIPAL OFFICE** 

1117054…………………………... Lowther Gardens Lowther Terrace Lytham St Annes FY8 5QQ ……………………........ 

## **TRUSTEES** 

T A Mallabone ……. S M Wood … D F Rowe W A Swift…….….. L Fenton……. M Fenton Fylde Borough Council 

## **AUDITORS** 

Rushtons…….. Chartered Accountants Avroe House Avroe Crescent ……………........ Blackpool Business Park Blackpool FY4 2DP………………………….. 

Page 1 



## **LOWTHER GARDENS LYTHAM** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

The Trustees present their report with the financial statements of the charity for the year ended 31 March 2024, which include the subsidiary company Lowther Gardens (Lytham) Management Limited. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

The relevant powers granted to the Charity by the Constitution to achieve its aims are: 

- power to lease part of the pavilion for purposes ancillary to the enjoyment of the gardens. 

- power to charge such reasonable sums as the Trustees shall determine for use of the pavilion and for car parking. 

- power to make rules and regulations consistent with this scheme for the management of the charity. 

The aims and objectives of the charity are set out in the governance document are as follows: 

The objective of the charity is to promote, for the benefit of the inhabitants of Lytham, the surrounding area, and visitors to the area, the provision of facilities for recreation or other leisure time occupations. These facilities are for individuals who need them by reason of their youth, age, infirmities or disablement, financial hardship, or social and economic circumstances. They are also provided for the public at large in the interests of social welfare, with the aim of improving the conditions of life of the said inhabitants. 

The Aims of the Charity are set out in the Artistic Policy and include the following: 

- To provide a first rate Arts and Education facilities for Community and professional use in the area. 

- To quality assure, measuring customer satisfaction throughout the programme evaluating quality, creativity and missed opportunity. 

- To work in partnership with arts organisations, local educational establishments, community and support organisations and agencies. 

- To support artists with their professional development. 

- To support the amateur Arts community with skills development and professional mentoring. 

- To reach all sectors of the community. 

- To develop the parks as an arts space. 

- To encourage greater footfall and use of the park and its facilities through the use of Arts provision. 

- For the park and the Pavilion to become part of a joint vision in the provision of arts. 

Page 2 



## **LOWTHER GARDENS LYTHAM** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Results** 

This is the 12th year since the Trust separated from Fylde Borough Council as an independent organisation. Fylde Borough Council maintain a single seat on the Trust and the rest of the Trustees are appointed independently coming from the Arts Industry, Charity and Business backgrounds. The Trust (Lowther Gardens, Lytham) have continued to operate a Service Level Agreement with Fylde Borough Council where they receive some funding towards community involvement and provision of the arts and leisure space within the Fylde Borough.  Despite trading conditions in the arts and leisure sector remaining difficult nationally, I am pleased to report that the Trust operates a strong fiscal position whilst continuing to raise the funds to deliver the adjoining new performance and education centre. 

In addition to the performance space, we have developed our offering of arts and culture workshops for adults and children across the age ranges.  A particular success has been the sessions for children who are 'Home Educated.'  Additionally, with the financial support from the local authorities HAF fund we have developed our offering of holiday activities for children. 

We have continued to expand our theatre offering, operating 7 days a week, welcoming high profile artists many of which bring sell out shows attracting not only local audiences but also from across the region and beyond, significantly enriching the local economy.  Our pantomime had the best year on record when our turnover went from £163,000 in 2022 to £188,744 in 2023.  Local community groups and amateur theatre societies and our cinema offering remain at the heart of what we seek to achieve. 

Our outdoor events in Lowther's beautiful park continue to be successful for old and young alike. The Padel Tennis facility has gone from strength to strength and our annual Food and Drink, Ice Cream festivals and Pumpkins in the Park bring in thousands of visitors.  In 2023 we established 'The Tent' facility, a large marquee which was used by many community groups, ranging from dementia, LGBTQ and rock choirs, radio plays, yoga, knit and natter and themed food evenings including one run by our local Ukrainian community. 

During the course of the year, the focus for the trustees and staff supported by our volunteers has been on fund raising for the new performance and education centre.  As we progress with that journey, we thank all of those that have supported us thus far and continue to do so into the future. 

Page 3 



## **LOWTHER GARDENS LYTHAM** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

## **FINANCIAL REVIEW** 

The charity continues to hold a strong financial position despite the substantial development work undertaken during the financial year.  Trustees receive financial reports at each meeting and are satisfied that there is good financial governance. 

## **Policy for holding reserves** 

We strive to hold cash reserves to cover 3 month’s running costs. The level of cash reserves required will be reviewed annually. The amount of cash reserves held at the 31 March 2024 was £84,054 to work towards the target level of reserves as per our reserves policy. 

## **Principle funding sources for the charity this year** 

Over the past 12 months there has been a concerted effort to raise funds to enable the trust to complete the building project for the new Performance and Education Centre. In addition to individual donations and fund raising events, donations have been granted from Fylde Borough Council, Lancashire County Council Spacehive, Friends of Lowther Pavilion. The Windmill Benevolent Fund and the Back Stage Trust. The Trust has also received lease payments from Lowther Café, Lowther Management Company and Padel Project UK. 

## **Details of Principal Risks** 

The Principal Risks and mitigations are set out in the Trust’s Risk Register, they are as follows: 

- Reputational Risk 

- Decrease in Ticket Sales 

- Technical Failures During Performances 

- Health and Safety Risks 

- Staffing Shortages 

- Disruptions Due to External Factors 

- Financial Risks 

- Reputational Damage 

- Security Threats 

- Operational Challenges during Construction of new building 

- IT Risks 

- Alcohol Licensing Compliance 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. 

## **Constitution** 

The Trust and its predecessors have operated the Gardens since 1905, when the land was donated to the Lytham Urban District Council by John Talbot Clifton, a local landowner. The principal object of Lowther Gardens Lytham is to promote for the benefit of the inhabitants of Lytham and the public at large recreational and other leisure time activities. 

Page 4 



## **LOWTHER GARDENS LYTHAM** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

## **Governance and Internal Control** 

The body responsible for the management of the Charity is the Trustees. 

## **Appointment of Trustees** 

- The Trust may appoint trustees to a maximum number of 12. 

- Apart from Fylde Borough Council, every trustee must be appointed by a resolution of the trustees passed at a special meeting. Potential Trustees are interviewed by at least 2 trustees 

- In selecting individuals for appointment as trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 

1117054 

**Principal address** Lowther Gardens Lowther Terrace Lytham St Annes FY8 5QQ 

## **Trustees** 

T A Mallabone S M Wood D F Rowe W A Swift L Fenton Fylde Borough Council 

R T Withers - resigned 29 August 2023 M Fenton - appointed 17 November 2023 D J Chambers - appointed 15 March 2024 and resigned 21June 2024 L J Govan - appointed 23 April 2024 R Matthews - appointed 8 May 2024 R G Fielden - appointed 17 May 2024 

The trustees delegate the day to day management to the Chief Executive Officer / Artistic Director who has direct oversight of the Heads of Department.  The CEO reports at a minimum monthly to the trustees in respect of all financial decisions which are beyond his delegated powers.  In addition, The Chair of the Trust meets /speaks with him on an almost daily basis. 

Page 5 



## **LOWTHER GARDENS LYTHAM** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

## **Auditors** 

Rushtons Chartered Accountants Statutory Auditors Avroe House Avroe Crescent Blackpool Business Park Blackpool Lancashire FY4 2DP 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The Trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and regulations and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the group and of the incoming resources and application of resources of the group for that period. In preparing these financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and accounting 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; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group will continue in operation. 

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## **STATEMENT OF DISCLOSURE OF INFORMATION TO AUDITORS** 

The Trustees who held office at the date of approval of this Trustees Report confirm that, so far as they are each aware, there is no relevant audit information of which the charitable group's auditors are unaware; and each Trustee has taken all the steps that they ought to have taken as a Trustee to make themselves aware of any relevant audit information and to establish that the group's auditors are aware of that information. 

30/11/2024 

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 

.......................................................... T A Mallabone - Trustee 

Page 6 



## **LOWTHER GARDENS LYTHAM** 

## **INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF LOWTHER GARDENS LYTHAM FOR THE YEAR ENDED 31 MARCH 2024** 

## **Opinion** 

We have audited the financial statements of Lowther Gardens Lytham (the ‘parent charity’) and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Charity Balance Sheet, Consolidated Cash Flow Statement and Notes to the Financial Statements, including significant accounting policies.  The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). 

- In our opinion the financial statements: 

- give a true and fair view of the state of the group's and parent charity’s affairs as at 

   - 31 March 2024, and of the group's incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s and parent charity’s ability to continue as a going 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 respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report,  we do not express any form of assurance conclusion thereon. 

Page 7 



## **LOWTHER GARDENS LYTHAM** 

## **INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF LOWTHER GARDENS LYTHAM FOR THE YEAR ENDED 31 MARCH 2024** 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: 

- the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or 

- sufficient accounting records have not been kept; or 

- the parent charity’s financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees** 

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so. 

## **Auditor responsibilities for the audit of the financial statements** 

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, 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 guarantee that an audit conducted in accordance 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Page 8 



## **LOWTHER GARDENS LYTHAM** 

## **INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF LOWTHER GARDENS LYTHAM FOR THE YEAR ENDED 31 MARCH 2024** 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

## **Identifying and assessing potential risks related to irregularities** 

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: 

- The nature of the industry and sector, control environment and business performance; 

- Enquiring of trustees, including obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to: 

   - Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; 

   - Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; 

   - The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. 

- Discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud, and; 

- Obtaining an understanding of the legal and regulatory frameworks that the charity operates in, focusing on those laws and regulations that had a direct effect on the financial statements, such as provisions of the Charities Act, pensions legislation and tax legislation or that had a fundamental effect on the operations of the company, including the General Data Protection requirements, Anti-bribery and corruption policies. 

## **Audit response to risks identified** 

As a result of performing the above procedures, we did not identify any key audit matters. 

In addition to the above, our procedures to respond to risks identified included the following: 

- Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; 

- Enquiring of trustees, in-house legal counsel concerning actual and potential litigation and claims; 

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and 

- Reading minutes of meetings of those charged with governance. 

In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. 

We also communicated relevant identified laws and regulations and potential fraud risks to all of the engagement team, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. 

Page 9 



## **LOWTHER GARDENS LYTHAM** 

## **INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF LOWTHER GARDENS LYTHAM FOR THE YEAR ENDED 31 MARCH 2024** 

A further description of our responsibilities is available on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. 

## **Use of our report** 

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

## Rushtons 

Rushtons (Statutory Auditor) Chartered Accountants Avroe House Avroe Crescent Blackpool Business Park Blackpool Lancashire FY4 2DP 02/12/2024 

Date: ............................................. 

Page 10 



## **LOWTHER GARDENS LYTHAM** 

## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** 

|Notes<br>**INCOME AND ENDOWMENTS**<br>**Charitable activities**<br>Donations and other income<br>3<br>Investment income<br>Trading activity<br>**EXPENDITURE**<br>Trading activity<br>Raising funds<br>4<br>Charitable activity                                    4<br>**Total**<br>**NET INCOME**<br>**Transfers between funds**<br>**Tax on activities**<br>**NET MOVEMENT IN FUNDS**<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>**TOTAL FUNDS CARRIED FORWARD**|Notes<br>**INCOME AND ENDOWMENTS**<br>**Charitable activities**<br>Donations and other income<br>3<br>Investment income<br>Trading activity<br>**EXPENDITURE**<br>Trading activity<br>Raising funds<br>4<br>Charitable activity                                    4<br>**Total**<br>**NET INCOME**<br>**Transfers between funds**<br>**Tax on activities**<br>**NET MOVEMENT IN FUNDS**<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>**TOTAL FUNDS CARRIED FORWARD**|Unrestricted<br>fund<br>£<br>209,632<br>7,680<br>1,386,371<br>1,603,683<br>(756,315)<br>(83,114)<br>(685,604)<br>(1,525,033)<br>78,650<br>201,326<br>2,245|Unrestricted<br>fund<br>£<br>209,632<br>7,680<br>1,386,371<br>1,603,683<br>(756,315)<br>(83,114)<br>(685,604)<br>(1,525,033)<br>78,650<br>201,326<br>2,245||Restricted<br>fund<br>£<br>142,023<br>-<br>-|Year Ended<br>31.03.24<br>Total funds<br>£<br>351,655<br>7,680<br>1,386,371|Year Ended<br>31.03.24<br>Total funds<br>£<br>351,655<br>7,680<br>1,386,371|Year Ended<br>31.03.23<br>Total funds<br>£<br>525,774<br>2,217<br>1,131,386|Year Ended<br>31.03.23<br>Total funds<br>£<br>525,774<br>2,217<br>1,131,386|
|---|---|---|---|---|---|---|---|---|---|
||||||142,023<br>-<br>(21,273)<br>-<br>(21,273)<br>120,750<br>(201,326)<br>-||1,745,706<br>(756,315)<br>(104,387)<br>(685,604)<br>(1,546,306)<br>199,400<br>-<br>2,245||1,659,377<br>(621,375)<br>(72,401)<br>(555,116)<br>(1,248,892)<br>410,485<br>-<br>(6,344)|
||||282,221||(80,576)||201,645||404,141<br>2,401,312<br>2,805,453|
||||2,593,324<br>2,875,545<br>||212,129<br>131,553||2,805,453<br>3,007,098<br>|||



## **CONTINUING OPERATIONS** 

All income and expenditure has arisen from continuing activities. 

The notes form part of these financial statements Page 11 



## **LOWTHER GARDENS LYTHAM** 

## **CONSOLIDATED BALANCE SHEET AT 31 MARCH 2024** 

|||||2024|2023|
|---|---|---|---|---|---|
|||Unrestricted Restricted|Unrestricted Restricted|Unrestricted Restricted<br>Total|Total|
|||funds|funds|funds|funds|
|Notes||£|£|£|£|
|**FIXED ASSETS**||||||
|Tangible assets|9|2,640,835|-|2,640,835|2,248,162|
|Investment property|10|145,000|-|145,000|145,000|
|||2,785,835|-|2,785,835|2,393,162|
|**CURRENT ASSETS**||||||
|Stock||13,824|-|13,824|11,281|
|Debtors|12|107,886|-|107,886|53,627|
|Cash at bank||604,010|119,554|723,564|859,582|
|||725,720|119,554|845,274|924,490|
|**CREDITORS**||||||
|Amounts falling due within one year|13|(575,346)|-|(575,346)|(446,240)|
|**NET CURRENT ASSETS/(LIABILITIES)**||150,374|119,554|269,928|478,250|
|**TOTAL ASSETS LESS CURRENT**||2,936,209|119,554|3,055,763|2,871,412|
|**LIBAILITIES**||||||
|**CREDITORS**||||||
|Amounts falling due after more than one|14|(27,588)|-|(27,588)|(42,637)|
|year||||||
|**PROVISIONS**||(21,077)|-|(21,077)|(23,322)|
|**NET ASSETS**||2,887,544|119,554|3,007,098|2,805,453|
|**FUNDS**|19|||||
|Unrestricted funds||||2,875,553|2,593,324|
|Restricted funds||||131,544|212,129|
|**TOTAL FUNDS**||||3,007,098|2,805,453|



30/11/2024 

The financial statements were approved by the Board of Trustees on …………………. and were signed on its behalf by: Teresa Mallabone 

............................................. 

T A Mallabone - Trustee 

The notes form part of these financial statements Page 12 



## **LOWTHER GARDENS LYTHAM** 

## **CHARITY BALANCE SHEET AT 31 MARCH 2024** 

||||||2024|2023|
|---|---|---|---|---|---|---|
|||Unrestricted Restricted|Unrestricted Restricted||Unrestricted Restricted<br>Total|Total|
|||funds|funds||funds|funds|
|Notes||£|£||£|£|
|**FIXED ASSETS**|||||||
|Tangible assets|9|2,353,577||-|2,353,577|1,941,170|
|Investment property|10|145,000||-|145,000|145,000|
|||2,498,577||-|2,498,577|2,086,170|
|**CURRENT ASSETS**|||||||
|Debtors|12|291,407|12,000||303,407|307,404|
|Cash at bank||43,270|119,554||162,824|373,205|
|||334,677|131,554||466,231|680,609|
|**CREDITORS**|||||||
|Amounts falling due within one year|13|(24,395)||-|(24,395)|(36,583)|
|**NET CURRENT ASSETS**||310,282|131,554||441,836|644,026|
|**TOTAL ASSETS LESS CURRENT**|||||||
|**LIABILITIES**||2,808,859|131,554||2,940,413|2,730,196|
|**CREDITORS**|||||||
|Amounts falling due after more than one|14        (17,369)|14        (17,369)||-|(17,369)|(27,417)|
|year|||||||
|**NET ASSETS**||2,791,490|131,554||2,923,044|2,702,779|
|**FUNDS**|19||||||
|Unrestricted funds|||||2,791,490|2,490,649|
|Restricted funds|||||131,554|212,130|
|**TOTAL FUNDS**|||||2,923,044|2,702,779|



30/11/2024 

The financial statements were approved by the Board of Trustees on ……………….. and were signed on its behalf by: 

Teresa Mallabone 

............................................. 

T A Mallabone - Trustee 

The notes form part of these financial statements Page 13 



## **LOWTHER GARDENS LYTHAM** 

## **CONSOLIDATED CASH FLOW STATEMENT YEAR ENDED 31 MARCH 2024** 

|Notes<br>**Net cash inflow from operating activities**<br>20<br>**Investing activities**<br>Purchase of fixed assets<br>Net cash used in investing activities<br>**Financing activities**<br>Repayment of borrowings<br>**Net increase/(decrease) in cash and cash**<br>**equivalents**<br>**Cash and cash equivalents at beginning of year**<br>**Cash and cash equivalents at end of year**<br>**Relating to:**<br>**Cash at bank and in hand**|Year Ended<br>31.3.24<br>£<br>335,007<br>(452,622)<br>(117,616)<br>(18,402)<br>(136,018)<br>859,582<br>723,564<br>723,564|Year Ended<br>31.3.23<br>£<br>532,940<br>(136,716)|
|---|---|---|
|||396,224<br>(24,938)|
|||371,286<br>488,296|
|||859,582|
|||859,582|



The notes form part of these financial statements Page 14 



## **LOWTHER GARDENS LYTHAM** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

The financial statements contain information about Lowther Gardens Lytham as an individual charity and the consolidated financial information as the parent of the group. The group consists of Lowther Gardens Lytham, the parent charity, and its wholly owned subsidiary Lowther Gardens (Lytham) Management Limited. 

## **Reduced disclosure exemption** 

In accordance with FRS 102, the charity has taken advantage of the exemptions from the following disclosure requirements in respect of its individual financial statements. These disclosures are given on a consolidated basis: 

- Section 7 ‘Statement of Cash Flows’ – presentation of a statement of cash flow and related notes and disclosures. 

- Section 11 ‘Basic Financial Instruments’ & Section 12 ‘Other Financial Instruments Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instruments; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income. 

A summary of the principal accounting policies adopted (which have been applied consistently, except where noted), judgements and key sources of estimation uncertainty, is set out below. 

## **Fund accounting** 

There are certain funds which are retained in a general unrestricted fund which can be used in accordance with the charitable objectives at the discretion of the Trustees. There are also a number of restricted funds which must be used for specific purposes. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. 

Page 15 



## **LOWTHER GARDENS LYTHAM** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** 

## **1. ACCOUNTING POLICIES - CONTINUED** 

## **Going Concern** 

The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the group to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements. 

The entity has been previously impacted by the COVID-19 pandemic and the imposed closures, however in the current year more events have taken place which had led for the entity to make a healthy surplus in the current year of £201,645. 

The trustees have therefore continued to adopt the going concern basis of accounting in the preparation of these financial statements. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Tangible fixed assets** 

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Buildings - 2% on cost Improvements to property - Straight line over 30 years Plant and machinery - 10% on cost Computer equipment - Straight line over 3 years 

Land is not depreciated. 

## **Revaluation** 

Land and buildings are carried at current year value at fair value at the date of revaluation less any subsequent accumulated depreciation. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date. 

## **Stocks** 

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 

## **Hire purchase and leasing commitments** 

Rentals paid under operating leases are charged to surplus deficit on a straight line basis over the period of the lease. 

Page 16 



## **LOWTHER GARDENS LYTHAM** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024** 

## **2. JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY** 

In the application of the accounting policies, the Trustees are required to make judgement, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. 

## **3. DONATIONS AND OTHER INCOME** 

## **4.** 

|Fundraising activities, donations and gifts<br>Grants<br>Other incoming resources<br>**ANALYSIS OF EXPENDITURE OF CHARITABLE ACTIVITIES**<br>Notes<br>Fundraising expenses<br>Hire of plant and machinery<br>Wages<br>6<br>Cleaning, laundry and waste<br>Light, heat and water<br>Telephone, fax and internet<br>Postage and stationery<br>Advertising and marketing<br>Motor and travel<br>Repairs and renewals<br>Computer maintenance<br>Depreciation<br>5<br>Other costs<br>Insurance<br>Staff hire/training<br>Sundry<br>Finance charges<br>Bad debts<br>Accountancy<br>5<br>Legal and professional fees|Year Ended<br>31.3.24<br>£<br>253,385<br>-<br>98,270<br>351,655||Year Ended<br>31.3.23<br>£<br>399,244<br>-<br>126,530<br>525,774<br>Year Ended<br>31.3.23<br>£<br>42,635<br>12,912<br>185,787<br>19,047<br>22,759<br>2,127<br>5,641<br>47,403<br>697<br>33,752<br>37,345<br>60,094<br>-<br>10,933<br>55,996<br>8,620<br>22,679<br>(1,117)<br>11,231<br>48,976<br>627,517|
|---|---|---|---|
|||||
||Year Ended<br>31.3.24<br>£<br>64,869<br>13,547<br>257,996<br>22,136<br>39,227<br>1,859<br>6,150<br>62,218<br>626<br>38,616<br>49,605<br>59,950<br>108<br>17,314<br>56,295<br>4,728<br>27,229<br>125<br>14,246<br>53,147<br>789,991|||



Page 17 



## **LOWTHER GARDENS LYTHAM** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024** 

## **5. NET INCOME FOR THE YEAR INCLUDES:** 

|This is stated after charging:<br>Depreciation on owned assets<br>Bank loan interest<br>Auditors remuneration:<br>-<br>Audit of the financial statements<br>-<br>Other services<br>**STAFF COSTS**<br>Wages and social security<br>Other pension costs<br>**Particulars of employees:**<br>The average number of employees during the year was as<br>follows:|Year Ended<br>31.3.24<br>£<br>59,950<br>100<br>7,000<br>7,246<br>Year Ended<br>31.3.24<br>£<br>254,378<br>3,618<br>257,996<br>23|Year Ended<br>31.3.23<br>£<br>60,094<br>494<br>5,500<br>5,731|
|---|---|---|
|||Year Ended<br>31.3.23<br>£<br>183,201<br>2,586|
|||185,787|
|||13|



## **6. STAFF COSTS** 

No employee received remuneration of more than £60,000 during the year (2023 - £60,000). 

## **7. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2024. 

## **Trustees' expenses** 

There were no trustees' expenses for the year ended 31 March 2024. 

## **8. TAXATION** 

Lowther Gardens Lytham is a registered charity, is therefore exempt from tax on income, and gains to the extent that these are applied to its charitable objects. 

The trading subsidiary is subject to corporation tax and the charge in the year is shown in the detailed consolidated statement of financial activities. 

Page 18 



## **LOWTHER GARDENS LYTHAM** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024** 

## **9. TANGIBLE FIXED - ASSETS – GROUP** 

|**COST OR VALUATION**<br>At 1 April 2023<br>Additions<br>At 31 March 2024<br>**DEPRECIATION**<br>At 1 April 2023<br>Charge for the year<br>At 31 March 2024<br>**NET BOOK VALUE**<br>At 31 March 2024<br>At 31 March 2023<br>**COST OR VALUATION**<br>At 1 April 2023<br>Additions<br>At 31 March 2024<br>**DEPRECIATION**<br>At 1 April 2023<br>Charge for the year<br>At 31 March 2024<br>**NET BOOK VALUE**<br>At 31 March 2024<br>At 31 March 2023|Plant &<br>Machinery<br>£<br>408,493<br>6,895<br>415,388<br>285,262<br>21,780<br>307,042<br>108,346<br>123,231|Land<br>£<br>257,000<br>-<br>257,000<br>-<br>-<br>-<br>257,000<br>257,000<br>Fixtures and<br>fittings<br>£<br>-<br>2,000<br>2,000<br>-<br>17<br>17<br>1,983<br>-|Buildings<br>£<br>1,741,746<br>442,096<br>2,183,842<br>57,576<br>29,689<br>87,265<br>2,096,577<br>1,684,170<br>Computer<br>Equipment<br>£<br>11,736<br>1,631<br>13,367<br>8,739<br>1,768<br>10,507<br>2,860<br>2,997|Improvements<br>to property<br>£<br>200,849<br>-|
|---|---|---|---|---|
|||||200,849|
|||||20,085<br>6,695|
|||||26,780|
|||||174,069|
|||||180,764|
|||||Totals<br>£<br>2,619,824<br>452,622|
|||||3,072,446|
|||||371,662<br>59,949|
|||||431,611|
|||||2,640,835|
|||||2,248,162|



Page 19 



## **LOWTHER GARDENS LYTHAM** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024** 

## **9. TANGIBLE FIXED - ASSETS – CHARITY** 

|**COST OR VALUATION**<br>At 1 April 2023<br>Additions<br>At 31 March 2024<br>**DEPRECIATION**<br>At 1 April 2023<br>Charge for the year<br>At 31 March 2024<br>**NET BOOK VALUE**<br>At 31 March 2024<br>At 31 March 2023|Land<br>£<br>257,000<br>-<br>257,000<br>-<br>-<br>-<br>257,000<br>257,000|Buildings<br>£<br>1,741,746<br>442,096<br>2,183,842<br>57,576<br>29,689<br>87,265<br>2,096,577<br>1,684,170|Plant and<br>Machinery<br>£<br>172,284<br>-<br>172,284<br>172,284<br>-<br>172,284<br>-<br>-|Totals<br>£<br>2,171,030<br>442,096|
|---|---|---|---|---|
|||||2,613,126|
|||||229,860<br>29,689|
|||||259,549|
|||||2,353,577|
|||||1,941,170|



If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows: 

|Cost<br>Accumulated depreciation<br>Carrying value|2024<br>£<br>2023<br>£<br>2,491,728<br>2,049,631<br>(479,485)<br>(449,948)<br>2,012,243<br>1,599,683|
|---|---|



Page 20 



## **LOWTHER GARDENS LYTHAM** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024** 

## **10. INVESTMENT PROPERTY** 

|**INVESTMENT PROPERTY**||
|---|---|
|**FAIR VALUE**<br>At 1 April 2023<br>At 31 March 2024<br>**NET BOOK VALUE**<br>At 31 March 2024<br>At 31 March 2023|£<br>145,000|
||145,000|
||145,000|
||145,000|



## **11. INVESTMENT IN SUBSIDARY COMPANIES** 

The charity has a subsidiary company, Lowther Gardens (Lytham) Management Limited. This is a private company limited by guarantee without share capital. By virtue of its effective management being closely integrated to the charity, in that the Directors are also Trustees of the charity, and that its trade is for the benefit of the charity it is therefore treated as wholly owned subsidiary. 

Details of the subsidiary company are disclosed below: 

|**Lowther Gardens (Lytham) Management Ltd**<br>**Company number: 07520640**<br>Assets<br>Liabilities<br>Capital & Reserves<br>Turnover<br>Other Income<br>Expenditure<br>Profit/(Loss)|2024<br>2023<br>£<br>£<br>915,504<br>846,154<br>(831,451)<br>(743,480)<br>84,053<br>102,674<br>1,386,370<br>1,498,634<br>79,770<br>109,530<br>(1,487,006)<br>(1,604,192)<br>(20,866)<br>3,972|
|---|---|



Page 21 



## **LOWTHER GARDENS LYTHAM** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024** 

## **12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|**GROUP**<br>Trade debtors<br>Prepayments and other debtors<br>**CHARITY**<br>Trade debtors<br>VAT<br>Prepayments and other debtors<br>Intercompany debtor<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>**GROUP**<br>Trade creditors<br>Taxation and social security<br>Other creditors<br>Accruals<br>Bank Loans<br>FBC Loan<br>Hire purchase<br>**CHARITY**<br>Bank Loans and overdrafts<br>Trade creditors<br>Taxation and social security<br>Other creditors|2024<br>£<br>41,890<br>65,996|2023<br>£<br>30,745<br>22,882|
|---|---|---|
||107,886|53,627|
||2024<br>£<br>8,797<br>41,442<br>3,965<br>249,203<br>303,407<br>2024<br>£<br>30,387<br>42,546<br>21,238<br>466,103<br>10,072<br>5,000<br>-|2023<br>£<br>5,680<br>-<br>6,443<br>295,281|
|||307,404|
|||2023<br>£<br>18,778<br>14,168<br>32,159<br>362,710<br>9,850<br>5,000<br>3,575|
||575,346|446,240|
||2024<br>£<br>10,072<br>4,563<br>-<br>9,760<br>24,395|2023<br>£<br>9,850<br>3,630<br>3,114<br>19,989|
|||36,583|



## **13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

Page 22 



## **LOWTHER GARDENS LYTHAM** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024** 

## **14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR** 

|**GROUP**<br>Bank Loans<br>FBC Loan<br>**CHARITY**<br>Bank Loans<br>**LEASING AGREEMENTS**<br>Minimum lease payments fall due as follows:<br>Non-cancellable operating leases<br>Within one year<br>Between one and five years|2024<br>2023<br>£<br>£<br>17,369<br>27,417<br>10,220<br>15,220<br>27,589<br>42,637<br>2024<br>2023<br>£<br>£<br>17,369<br>27,417<br>2024<br>2023<br>£<br>£<br>1,893<br>1,893<br>2,997<br>4,890<br>4,890<br>6,783|
|---|---|



## **15. LEASING AGREEMENTS** 

Page 23 



## **LOWTHER GARDENS LYTHAM** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024** 

## **16. CAPITAL COMMITMENTS** 

As of 31 March 2024, the total value of works contracted for but not yet provided for in these financial statements is £603,767. This relates to the construction work of the new Studio Theatre & Education Centre Shell. 

## **17. RELATED PARTY DISCLOSURES** 

Fylde Borough Council is a trustee of Lowther Gardens Lytham Trust. At the year end, the balance owed to Fylde Borough Council from Lowther Gardens Lytham Trust totalled £790 (2023: £790). During the year, purchases from Fylde Borough Council totalled £20 (2023: £678). 

During the year, sales to Fylde Borough Council from Lowther Gardens (Lytham) Management Limited totalled £7,547 (2023: £5,172) and purchases from Fylde Borough Council totalled £43,747 (2023: £36,023). 

## **18. PRIOR YEAR ADJUSTMENT** 

In the 2023 financial statements for Lowther Gardens (Lytham) Management Limited, a classification error was identified, showing the overstatement of both sales and purchases. The adjustments totalling £367,248 are listed as follows: 

- £347,527 was removed from sales and purchases for externally managed shows 

- £19,721 was removed from sales and purchase for PRS royalties 

The adjustments do not affect the overall net position of the company. 

Page 24 



## **LOWTHER GARDENS LYTHAM** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024** 

|**19. MOVEMENT IN FUNDS**<br>**GROUP**<br>**Unrestricted funds**<br>General fund<br>Fair value reserve<br>Property asset fund<br>**Restricted funds**<br>Tree Guardians Adopt a<br>Tree Scheme<br>Sudio Theatre and<br>Education Centre<br>User Group Grants<br>**TOTAL FUNDS**<br>**19. MOVEMENT IN FUNDS**<br>**GROUP**<br>**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Tree Guardians Adopt a<br>Tree Scheme<br>Sudio Theatre and<br>Education Centre<br>Pumpkins in the Park<br>User Group Grants<br>**TOTAL FUNDS**|At 1.4.23<br>£<br>507,153<br>93,811<br>1,992,359<br>2,593,323<br>10,141<br>191,274<br>10,715<br>212,130<br>2,805,453|Net movement<br>in funds<br>£<br>(130,186)<br>-<br>211,081<br>80,895<br>507<br>115,836<br>4,407<br>120,750<br>201,645<br>Incoming<br>resources<br>£<br>1,603,683<br>507<br>127,641<br>1,875<br>12,000<br>142,023<br>1,745,706|Transfers<br>between funds<br>£<br>-<br>(152)<br>201,478<br>201,326<br>-<br>(201,326)<br>-<br>(201,326)<br>-<br>Resources<br>expended<br>£<br>(1,522,788)<br>-<br>(11,805)<br>(1,875)<br>(7,593)<br>(21,273)<br>(1,544,061)|At 31.3.24<br>£<br>376,967<br>93,659<br>2,404,918|
|---|---|---|---|---|
|||||2,875,544<br>10,648<br>105,784<br>15,122|
|||||131,554<br>3,007,098|
|||||Movement in<br>Funds<br>£<br>80,895<br>507<br>115,836<br>-<br>4,407<br>120,750<br>201,645|



Page 25 



## **LOWTHER GARDENS LYTHAM** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024** 

|**20. MOVEMENT IN FUNDS**<br>**CHARITY**<br>**Unrestricted funds**<br>General fund<br>Fair value reserve<br>Property asset fund<br>**Restricted funds**<br>Tree Guardians Adopt a<br>Tree Scheme<br>Sudio Theatre and<br>Education Centre<br>User Group Grants<br>**TOTAL FUNDS**<br>**20. MOVEMENT IN FUNDS**<br>**CHARITY**<br>**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Tree Guardians Adopt a<br>Tree Scheme<br>Sudio Theatre and<br>Education Centre<br>Pumpkins in the Park<br>User Group Grants<br>**TOTAL FUNDS**|At 1.4.23<br>£<br>404,479<br>93,811<br>1,992,359<br>2,490,649<br>10,141<br>191,274<br>10,715<br>212,130<br>2,702,779|Net movement<br>in funds<br>£<br>(111,566)<br>-<br>211,081<br>99,515<br>507<br>115,836<br>4,407<br>120,750<br>220,265<br>Incoming<br>resources<br>£<br>183,542<br>507<br>127,641<br>1,875<br>12,000<br>142,023<br>325,565|Transfers<br>between funds<br>£<br>-<br>(152)<br>201,478<br>201,326<br>-<br>(201,326)<br>-<br>(201,326)<br>-<br>Resources<br>expended<br>£<br>(84,027)<br>-<br>(11,805)<br>(1,875)<br>(7,593)<br>(21,273)<br>(105,300)|At 31.3.24<br>£<br>292,913<br>93,659<br>2,404,918<br>2,791,490<br>10,648<br>(105,784)<br>15,122<br>131,554<br>2,923,044<br>Movement in<br>Funds<br>£<br>99,515<br>507<br>115,836<br>-<br>4,407<br>120,750<br>220,265|
|---|---|---|---|---|



Page 26 



## **LOWTHER GARDENS LYTHAM** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024** 

## **21. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

|Net income<br>Tax<br>Depreciation…..<br>Change in stock<br>Change in debtors<br>Change in creditors|2024<br>£<br>199,400<br>2,245<br>59,950<br>(2,543)<br>(54,259)<br>130,214<br>335,007|2023<br>£<br>404,141<br>6,344<br>60,094<br>1,142<br>(2,565)<br>63,784|
|---|---|---|
|||532,940|



Page 27 



## **LOWTHER GARDENS LYTHAM** 

## **DETAILED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** 

|**TURNOVER**<br>Cost of sales<br>**GROSS SURPLUS**<br>**Other Income**<br>Fundraising activities, donations and gifts<br>Grants<br>Other incoming resources<br>Investment income<br>**Expenditure**<br>Fundraising expenses<br>Hire of plant and machinery<br>Wages<br>Social security<br>Pension<br>Cleaning, laundry and waste<br>Light, heat and water<br>Telephone, fax and internet<br>Postage and stationery<br>Advertising and marketing<br>Motor and travel<br>Repairs and renewals<br>Computer maintenance<br>Depreciation<br>Other costs<br>Insurance<br>Staff hire/training<br>Sundry<br>Carried forward|Year Ended<br>31.3.24<br>£<br>£<br>1,386,371<br>(756,315)<br>630,056<br>253,385<br>-<br>98,270<br>7,680<br>359,335<br>989,391<br>64,869<br>13,547<br>244,012<br>10,366<br>3,618<br>22,136<br>39,227<br>1,859<br>6,150<br>62,218<br>626<br>38,616<br>49,605<br>59,950<br>108<br>17,314<br>56,295<br>4,728<br>(695,244)<br>294,147|Year Ended<br>31.3.23<br>£<br>£<br>1,131,386<br>(621,375)<br>510,011<br>399,244<br>-<br>126,530<br>2,217<br>527,991<br>1,038,002<br>42,635<br>12,912<br>185,787<br>-<br>-<br>19,047<br>22,759<br>2,127<br>5,641<br>47,403<br>697<br>33,752<br>37,345<br>60,094<br>-<br>10,933<br>55,996<br>8,620<br>(545,748)<br>492,254|
|---|---|---|
||||



Page 28 



## **LOWTHER GARDENS LYTHAM** 

## **DETAILED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** 

|Brought forward<br>Finance charges<br>Bad debts<br>Accountancy<br>Legal and professional fees<br>**SURPLUS BEFORE TAXATION**<br>Tax on surplus/(deficit)<br>**SURPLUS FOR THE FINANCIAL YEAR**<br>**OTHER COMPREHENSIVE INCOME**<br>**TOTAL COMPREHENSIVE INCOME FOR THE**<br>**YEAR**|Year Ended<br>31.3.24<br>£<br>£<br>294,147<br>34,229<br>125<br>7,246<br>53,147<br>(94,747)<br>199,400<br>(2,245)<br>201,645<br>-<br> <br>201,645|Year Ended<br>31.3.23<br>£<br>£<br>492,254<br>22,679<br>(1,117)<br>11,231<br>48,976<br>(81,769))<br>410,485<br>6,344<br>404,141<br>-<br>404,141|Year Ended<br>31.3.23<br>£<br>£<br>492,254<br>22,679<br>(1,117)<br>11,231<br>48,976<br>(81,769))<br>410,485<br>6,344<br>404,141<br>-<br>404,141|
|---|---|---|---|
|||||
||||410,485<br>6,344|
||||404,141<br>-|
||||404,141|



Page 29