Company no. 06092664 Charity no. 1122590 Lincoln Area Regeneration Group Report and Unaudited Financial Statements 31 March 2025
Lincoln Area Regeneration Group Reference and administrative details For the ear ended 31 March 2025 Company number 06092664 Charity number 1122590 Registered office and operational address Poplar Union 2 Cotall Street London E14 6TL Trustees Trustees. who are also directors under company law, who served during the year and up to the date of this report were as follows.. Safia Jama Brian Searle Helal Ahmed Mohammed Alom David Black Asim lftikhar Caroline Millar Cheryl Ndione Christine Searle MBE Thomas Viegas Chair Vice-chair Treasurer Appointed 28 February 2025 Resigned 25 April 2025 Appointed 25 April 2025 Appointed 28 February 2025 Senior management team Momtaz Begum Company secretary Naseem Kadir Bankers HSBC Bank PLC 59- 61 The Mall Stratford London E15 1XF Independent examiners Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS14QD
Lincoln Area Regeneration Group Report of the trustees For the ear ended 31 March 2025 The trustees present their report along with the financial statements of the charity for the year ended 31 March 2025. Reference and administrative information set out on page 1 fomis part of this report. The financial statements comply with current statutory requirements. the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities {effective from January 2019). Ob'ectives and Activities Objects and values The main objectives of the charity continue to be the social, cultural. environmental and personal flourishing of the Bow, Poplar and Tower Hamlets communities, for the benefit of local people, particularly those living through urban regeneration. Having previously concentrated our efforts in the Bow and Poplar area of East London (our origins), we manage an arts and community centre, Poplar Union (the base for one of our satellite offis). continues to succeed in providing high quality cultural and community focused events in an area where historically there have been no local community provisions. We have expanded out work to include a brand-new street market running weekly to support local entrepreneurship. The Lincoln Area Regeneration Group's (LARG) charitable objectives are focussed on supporting local people to create opportunities and utilise these initiatives to build strong relationships and cohesive communities, using art as a tool to improve people's access to health and well-being provisions. LARG'S unique status as a resident formed and led charity means that the organisation has an intrinsic understanding of the needs of Tower Hamlets, residents. LARG is insightful and equipped in recognising and filling any gaps in the social, cultural. economic and environmental landscape of the borough. Issues such as poverty, isolation and exclusion. racial or religious tension, physical and mental ill-health, lack of soci(Feconomic opportunity and access to quality cultural provision all motivate the actions taken and partnerships formed by LARG. LARG are longstanding practitioners with over 15 years of Servi delivery within local communities and continue to grow and evolve to reflect the changes and needs of Tower Hamlets, residents. Principal activities The principal activities of the charity are-. Providing high quality arts and wellbeing activities that are financially. physically and intellectually accessible to all members of East London's diverse communities" Support local residents in gaining emploent, training or embark on educational andlor vocational activities, through our volunteering scheme- To be a champion in environmental and sustainable initiatives. supporting local recycling, greening and providing opportunities for local people to learn about and get involved with environmental projects within the borough- Animating and improving public spaces including, in the past year and ongoing, Bartlett Park and the Limehouse Cut making both spaces more desirable. safe and attractive spaS to local communities., General promotion of the local area and its residents as a desirable, friendly and inclusive area to live, work, socialise and play- and Management of the Cotall Street Market, a weekly arts and food market running throughout the year. Launched in May 2025.
Lincoln Area Regeneration Group Report of the trustees For the ear ended 31 March 2025 Po lar Union Opened in January 2017. Poplar Union is one of LARG'S more recent community projects with aims to be the creative heart and soul of Poplar offering a plattorm to the local community to showcase hidden and untapped talents. Poplar Union is a multi-disciplinary, purpose-built community arts centre. They aim to nurture and develop creativity, offering local people a space to commune, create and socialise. Through their exciting and diverse arts programme. Poplar Union aims to raise the profile of Poplar and south-east Tower Hamlets as a vibrant and enticing cultural destination with events ranging from theatre, music, dance, health and wellbeing and interactive workshops lo larger scale festivals. Poplar Union continues to grow from strength to strength, with numbers of attendees increasing on a monthly basis and over 3000 members subscribing to their newsletter. Poplar Union's arts programme is relevant to and reflective of the diverse communities within Tower Hamlets, empowering local people through telling their stories, representing them on stage and promoting wodd music. Poplar Union also channels LARG'S objectives surrounding improving the wellbeing of local residents through a highly successful health programme including yoga for adults and children, Zumba and family karate classes. Poplar Union has also manifested LARG'S objectives and aims through close and valuable partnerships such as Poplar E5 Bakehouse (formedy e5 Roasthouse) who provide quality, nutritious and seasonal food on site. They also run schemes such as Just Bread in which refugees are given the training required to obtain employment within the hospitality industry- very much in line with LARG'S objectives regarding employment and training. Through partnership and the programming described above. Poplar Union's productivity continues to grow and has expanded LARG'S remit to engage with new communities migrating to the area ranging from migrant communities to those with more disposable income. Poplar Union has also provided new opportunities through hiring its studios. Not only has this appealed to local businesses and charities of varwng sizes, it also means the community has access to a beautiful and accessible Spa for celebratory events, parties and even weddings at flexible and competitive prices, providing another Sour of income for LARG. Moo Canoes Having entered into a service level agreement with M(x) Canoes in 2017, many joint ventures have been successfully delivered in the past year, including working with children and young people to introduce stand-up-paddle-boarding, kayaking. canoeing and canal clean-ups into the vocational and leisure curriculum of local schools. Free monthly canal clean-ups led by Moo further promotes LARG'S values of improvement to green spaces and the preservation of our community environment. In addition to this Moo have successfully provided corporate staff days to large, affluent corporations based in Canary Wharf and the surrounding areas. LARG are hopeful that this will continue to develop as we anticipate this being a very good Sour of income generation for both organisations. The event season is from April to late October. thus presenting many opportunities to grow the business in the winter months spurred on all the more by the newly regenerated Limehouse Cut.
Lincoln Area Regeneration Group Report of the trustees For the ear ended 31 March 2025 The Power to Chan Lincoln Area Regeneration Group in partnership with Poplar HARCA and 14 other organisations has adopted 3 miles of the Limehouse Cut. the oldest canal in London that runs alongside Poplar Union and Bartletl Park. LARG continues to develop this project and is now delivering a new pontoon on the Limehouse Cut, between the Limehouse Basin & Bow Creek in the heart of Poplar E14. Additionally, service arrangements have been agreed with the Canal & River Trust that are the water-based site landlord, and an agreement has been secured with a Housing Association in order to gain land-based access to the site. The project completed in December 2022 and has created betler access to the canal side for local residents and a new village green encompassing the community hub, the park and the canal. Power to Change awarded them a £240,391 grant so LARG can build a pontoon with ten moorings. The income generated from each mooring will help fund LARG'S activities. Canal tenants will also give in kind support to the local community and help improve the sometimes-unsafe towpath with their constant presence. With a safer, more acSsible canal. LARG will create a dynamic waterfront. delivering volunteering. water sport and educational activities. Events LARG continues to run a variety of activities focused on arts and culture, wellbeing. education and the environment. Black Histo and Culture We host an annual festival called BLX: Black legacy exchange to lebrate the rich diversity of our community of residents and artists. A month full of activities from film screenings to panel discussion, dance and music. Enjoyed by over 500 local people each year. Po lar Picnic Our annual community festival, bringing together all our partners to showcase 2 day full of fun and entertainment. This is also a chance to showcase all the talent within our partners and artists, from Sadler's Wells dance classes to spoken word poetry. We have a total of 2000 visitors at this year's event. Arts for Health We offer regular fitness and creative arts classes designed to support vulnerable members of our community. Delivered through a mix of self-referrals and referrals from healthcare practitioners. our year-round Arts for Health programme helps individuals living with mental or physical health challenges. We see approx. 3000 individuals over the year. The Flax Exchan Working with residents in Tower Hamlets. V run a project that was initially started by Craft Central. Together we ran a series of workshops exploring homegrown sustainable textile praCtiS, movement and sound. Poplar Union took over the project from Craft Central in February 2024. A tolal of 15 workshops were held, with a live music show and exhibition. Goes Green Our annual sustainability festival, held each January. is organised in collaboration with key partners, Sustainably Muslim and Sunny Jar. The event offers a variety of indoor and outdoor craft activities for families, encouraging the local community to explore ways to reuse. recycle, and repurpose everyday materials. It also revives traditional cultural techniques. such as Hapa Zome, a Japanese method for transferring the vibrant colours of leaves and flowers onto fabric or paper.
Lincoln Area Regeneration Group Report of the trustees For the ear ended 31 March 2025 Stories We Tell.. Photo h Course Partnering with an incredible local photographer Pierre Bureau. we have been able to roll out various photography courses including an adult professional course. family and young people courses, men's only and women's only courses who came together to exhibit their work at Poplar Union. Through support from Arts Council England, we have been able to provide these courses to our local communities for free and have had such success that we have rolled out the programme across various seasons throughout the year. Poplar Union provides the exhibition space for each course to display their work publicly in our café which for many local participants is the first time Ihey have been able to see their work in a professional environment and has inspired careers and hobbies in the arts. Skills and mentorin In partnership with a new female-led enterprise, we have supported the local networking group Canary Wharf Female Entrepreneurs. with the goal of empowering as many women in business as possible to build confidence and strengthen their brands. Together, we organised a series of skills development and mentorship programs, covering topics such as public speaking, social media training, and coaching for female entrepreneurs. Pontoon & Moorin LARG has successfully implemented the plans to install a new pontoon on the Limehouse Cut which, when completed in December 2022 will accommodate up to 10 narrowboats to encourage community growth on the water. Residents will be encouraged to engage with LARG'S activities, volunteering to contribute to the social. cultural and environmental landscape of Poplar. Po hts Working to develop emerging artists, we have created a series of evening events to make access to music and entertainment free to residents. Supporting by well-known reputable musicians and event planners the programme offers a unique opportunity for cultural excellence in the community, supporting social cohesion and reducing anti-social behaviour. Partici ation in the Lincoln Estate Board and Local Area Partnershi Lincoln Area Regeneration Group was strongly represented in the Estate Board which enables the voices of our members to be heard and considered, however in recent years the way that governance issues are decided has changed somewhat and there is not such a strong emphasis on Estate board matters,. however we continue to support individual residents who wish to participate in local decision- making processes by encouraging them to attend meetings and consultations called by our landlord and express their opinions and ideas as to how we can work together to improve our estates and make them a better place to live. Lincoln Area Regeneration Group's chairperson still sits in the Local Area Partnership (LAP 61 steering committee. Poplar Union has also formed its own 'Resident Advisory Board, enabling a selection of local residents to feedback directly to LARG as to what they feel their communities need and would benefit from. This has proved useful in designing the programming and engagement activities. particularly at Poplar Union. Financial review The detailed results of the charity are shown in the Statement of Financial Activities on page 12 and its financial position at 31 March 2025 is shown in the Balance Sheet on page 13.
Lincoln Area Regeneration Group Report of the trustees For the ear ended 31 March 2025 Poplar HARCA has continued to be a major funder in 2024-25. They have also continued to provide premises and other facilities in kind including support to liaise with partner organisation and fundraising infomiation. LARG has explored new areas of activity in the year and managed to secure new funding in social prescribing and Mental Health programmes as well as Market development for new businesses in the local area. LARG has further investments and other trading income from Mooring Rentals, space hire, ticket sales for evenls, donations and fund raising. Risk assessment The Board continues to keep under review the major risks to which the charity may be exposed. Reserves policy and funds The Trustees believe it is wise to hold a balance in the General Reserve equivalent to 8 weeks of unrestricted annual expenditure, to meet unexpected costs or fluctuations in planned income. The balance in the General Reserve at the end of the year was £246.289 and designated funds £40,000. The trustees aim to increase the General Reserve equivalent to 3 months of unrestricted annual expenditure over the next 3 years. Plans for future periods The Charity plans to continue the activities outlined above in the forthcoming years subject to satisfactory funding arrangements. Efforts will be made to ensure Poplar Union continues to grow from strength to strength across its programme of events, partnerships, hire opportunities and community engagement. Looking ahead. major challenges (and opportunities) include the successful completion of the 10 residential moorings and the renovation of adopted section of the canal which will drastically impact upon both the financial position and profile of LARG in the E14 area of East London. This last year has been a challenging year for all charities. though with the efforts of Poplar Union and the ongoing works of development projects such as the mooring scheme, we are entering the next financial year with renewed confidence in LARG'S ability to grow. develop and respond to the needs of Tower Hamlets residents in precarious social and political times. structure, governance and management Structure The Lincoln Area Regeneration Group is a charitable organisation controlled by a board of trustees. Governing Document - Memorandum and Articles of Association (for a charitable company) Constitutional ovemance Lincoln Area Regeneration Group are governed by a board ratified constitutional document stipulating parameters under which it operates,. these set of practices govern, influence and shape the direction in which Lincoln Area Regeneration Group as an organisation is steered. Governance indices include geographical location, (within Tower Hamlets), types of involvement, and areas of activities include green spaces preservation and other predetemined agreed agendas, for example young people's activities, event's management and so forth. For greater clarification please refer to Lincoln Area Regeneration Group constitutional documenL
Lincoln Area Regeneration Group Report of the trustees For the ear ended 31 March 2025 anisational structure The Trustees who are also directors are actively involved in overseeing Lincoln Area Regeneration Group s day to day operations as well as managing workloads delegated to a list of full-time staff, bank work and sessional summer workers. The trustees undertake meetings once per quarter, usually numbering four or five official gatherings per annum, there is scope to increase the frequency depending on the urgency of matters and funding applications. Additionally in compliance with govemment pension regulations Lincoln Area Regeneration Group has ensured that all its paid employees are now auto-enrolled in relation to the pension provisions. This means that upon signing a contract of employment each employee is automatically enrolled into Lincoln Area Regeneration Group's pension scheme and may opt out if required. Chari incor oration Our application for incorporation was approved in 2008. and LARG continues to operate under our charity number which is 1122590. De endent relationshi The Charity is based across sites. Lincoln Area Regeneration Group's head office at Poplar Union, 2 Cotall Street, E14 6TL. The site is owned by Poplar HARCA. a housing and regeneration community association which is a registered charity (No. 1064397). Poplar HARCA provides space at Poplar Union that Lincoln Area Regeneration Group trustees have signed a licence to occupy. Lincoln Area Regeneralion Group continues to benefit from subsidised Rent, IT Services, office costs and other related charitable services to Lincoln Area Regeneration Group. This is in recognition that this charitys work (Lincoln Area Regeneration Group) is in keeping with Poplar HARCA'S own charitable purposes and that Lincoln Area Regeneration Group still needs support in its continued stages of development and operations. however due to pressure on budgets and a greater emphasis on accountability there are increasing demands for Lincoln Area Regeneration Group to be self- sustaining and not be so reliant on Poplar HARCA resources. Lincoln Area Regeneration Group intends to make rental payments to Poplar HARCA as its Landlord in the financial year 2025126. Again this year Lincoln Area Regeneration Group continued to be dependent on support from Poplar HARCA, although there is increased pressure to be self-sustaining Iself-financing sooner rather than later. Despite this Lincoln Area Regeneration Group have still projected and propelled our business initiatives, have found it challenging to continue the journey to becoming self-sustaining, but we are moving forward and new developments detailed in this trustees report (notably the mooring scheme and remodelled agreement with Poplar Union's café provider, Poplar Bakehouse) will continue to ensure that we will eventually gain independence away from Poplar HARCA. The overall 3°/. reduction of rents payable by central government to Registered Social Landlords continues to hamper funding opportunity for Lincoln Area Regeneration Group, as the RSL'S, our customer base, abilities to commission additional community engagement works has greatly diminished. However other prospective avenues have been created with Lincoln Area Regeneration Group lendering for opportunities to support two community cafes. Volunteers Volunteers are the backbone of the chariWs operational network without whom the range and extent of activities undertaken would be greatiy diminished. We continue to embark on a social media campaigns and local marketing in the promotion of services, this has also enabled us to recruit a new compliment of staff, volunteers and intems to assisl our management of Poplar Union.
Lincoln Area Regeneration Group Report of the trustees For the ear ended 31 March 2025 Recruitment and a ointment of trustees In accordance with the Constitution of the Charity. all of the Trustees, are required to retire at each Annual General Meeting (AGM) but if eligible may offer themselves for re*lection by the Members present at the AGM. Additionally, beeen one AGM and the next the trustees may appoint any further person who is willing and eligible to act as a trustee. 2023-2024 began a recruitment campaign to appoint new trustees to the organisation, and this will continue into 2025-26. statement of responsibilities of the trustees The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees. report and the financial statements in accordance with 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). Company law 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 charity and of the income and expenditure of the charity for that period. In preparing those 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 and statements of recommended practice 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 charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding Ihe assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable companYs website. Legislation in the United Kingdom governing the preparation and dissemination of financial ststements may differ from legislation in other jurisdictions. Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
Lincoln Area Regeneration Group Report of the trustees For the ear ended 31 March 2025 Independent examiners Godfrey Wilson Limited were re-appointed as independent examiners to the charitable company during the year and have expressed their willingness to continue in that capacity. Approved by the trustees on 20 November 2025 and signed on their behalf by SJ Safia Jama - Chair
Independent examinerfs report To the trustees of Lincoln Area Re eneration Group I report to the trustees on my examination of the accounts of Lincoln Area Regeneration Group (the charitable company) for the year ended 31 March 2025. which are set out on pages 12 to 27. Responsibilities and basis of report As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable companys accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. Independent examiner's statement Since the charitable company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales (ICAEW). which is one of the listed bodies. Godfrey Wilson Limited also provides payroll ServIS to the charitable company. I confirm that as a member of the ICAEW l am subject to the FRC'S Revised Ethical Standard 2016, which I have applied with respect to this engagement. I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- (1) accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act., or (2) the accounts do not accord with those records: or (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination" or (4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 10
Independent examinerfs report To the trustees of Lincoln Area Re eneration Group I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Date: 8 December 2025 Robert Wilson FCA Member of Ihe ICAEW For and on behalf of.. Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS14QD
Lincoln Area Regeneration Group Statement of financial activities (incorporating an income and expenditu account) For the ear ended 31 March 2025 2025 Total 2024 Total Restricted Unrestricted Note Income from: Donations Charitable activities Other trading activities Investment income other income 10,590 221,188 117.175 39.780 1,853 10,590 227,350 117,175 39,780 1,853 10.300 297,549 83,249 64,613 6.162 Total income 6,162 390.586 396,748 455,711 Expenditure on: Raising funds Charitable activities 79,761 431,051 79,761 446,874 34,198 434,079 15,823 Total expenditure 15,823 510,812 526,635 468,277 Net expenditure 9,661 (120,226) 129,887 12,566 Net movement in funds (9,661) (120,226) (129,887) (12,566) Reconciliation of funds: Total funds brought forward 12,805 406,515 419,320 431,886 Total funds carried forward 3,144 286,289 289,433 419,320 All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 18 to the accounts. 12
Lincoln Area Regeneration Group Balance sheet As at 31 March 2025 2025 2024 Note Fixed assets Tangible assets Investment property 13 14 1,223 240,149 599 240,149 241,372 240,748 Current assets Debtors Cash at bank and in hand 15 42,340 30.653 53,289 149,018 72,993 202,307 Liabilities Creditors= amounts falling due within 1 year 16 (24.932) (23,735) Net current assets 48,061 178,572 Net assets 17 289,433 419,320 Funds Restricted funds Unrestricted funds Designated funds General funds 18 3,144 12,805 40,000 246,289 100,000 306,515 Total charity funds 289,433 419,320 The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477. and that no member or members have requested an audit pursuant to section 476 of the Act. The directors acknowledge their responsibilities for= (i) ensuring that the company keeps proper accounting records which comply with section 386 of the Act; and (li) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393. and which otherwise comply with the requirements of the Act relating to financial statements. so far as applicable to the company. These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies. regime. Approved by the trustees on 20 November 2025 and signed on their behalf by Safia Jama - Chair 13
Lincoln Area Regeneration Group statement of cash flows For the ear ended 31 March 2025 2025 2024 Cash used in operating activities: Net movement in funds (129,887) (12,566) Adjustments for: Depreciation charges Dividends, interest and rents from investments Decrease in debtors Increase in creditors 475 (39,780) 10,949 1,197 (64.613) 9,598 623 Net cash used in operating activities 157,046 66.474 Cash flows from investing activities: Dividends, interest and rents from investments Purchase of tangible fixed assets Purchase of investments 39,780 (1,099) 64,613 (800) 9,618 Net cash provided by investing activities 38,681 54,195 Decrease in cash and cash equivalents in the year (118,365) (12,279) Cash and cash equivalents at the beginning of the year 149,018 161,297 Cash and cash equivalents at the end of the year 30,653 149,018 The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements. 14
Lincoln Area Regeneration Group Notes to the financial statements For the ear ended 31 March 2025 Accounting policies a) Basis of preparation and general inforniation Lincoln Area Regeneration Group is a charitable company limited by guarantee registered in England and Wales. The registered office address is Poplar Union, 2 Cotall Street, London, E14 6TL. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019) _ (Charities SORP (FRS 102}}, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Lincoln Area Regeneration Group meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. b) Going concern basis of accounting The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material UnrtaIntieS about the charitys ability to continue as a going concern. c) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from the govemment and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entlement to the funds, any performance conditions attached to the grants have been met. it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income from the community café, events, room rental and mooring rental are recognised when the related goods and services have been provided. d) Donated services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item. any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordan with the Charities SORP (FRS 102), general volunteer time is not recognised. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market., corresponding amount is then recognised in expenditure in the period of receipt. 15
Lincoln Area Regeneration Group Notes to the financial statements For the ear ended 31 March 2025 Accounting policies (continued) e) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity- this is nomially upon notification of the interest paid or payable by the bank. fj Funds accounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charitls work or for specific projects being undertaken by the charity. g) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. h) Grants payable Grants which have been authorised and paid are included as expenditure in the Statement of Financial Activities. Grants which have been authorised but not yet paid are accrued in the balance sheet and are included within creditors falling due within one year or after one year (as appropriate). i) Allocation of support and governance costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity. including the costs of complwng with constitutional and statutory requirements and any costs associated with the strategic management of the charity's activities. These costs have been allocated beeen cost of raising funds and expenditure on charitable activities based on the proportion of staff time occupied by each activity as follows.. 2025 2024 Raising funds Charitable activities 13.811/0 86.2 1. 93.80/0 j) Tangible fixed assets Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows= Equipment and furniture 3- 5 years, straight line basis Items of equipment are capitalised where the purchase price eXedS £500. 16
Lincoln Area Regeneration Group Notes to the financial statements For the ear ended 31 March 2025 Accounting policies (continued) k) Investment property Investment properties are boat moorings held by LARG to eam rental income. Investment property is initially measured at cost, including transaction costs. Investment property is subsequently measured at fair value at the reporting date. Gains or losses arising from changes in the fair value of investment property are included in net profit or loss on the face of the Statement of Financial Activities for the period in which they arise. l) Stock The charity does not contribute any value to the stock of food and ingredients held for its community café as the amounts are not considered material. m) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. n) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. o) Creditors Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are nomally recognised at their settlement amount after allowing for any trade discounts due. p) Financial instruments The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settiement value with the exception of bank loans which are subsequendy recognised at amortised cost using the effective interest method. q) Pension costs The charitable company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA. r) Operating leases Rentals paid under operating leases are charged to the statement of financial activities as they fall due. 17
Lincoln Area Regeneration Group Notes to the financial statements For the ear ended 31 March 2025 Accounting policies (continued) s) Accounting estimates and key judgements In the application of the chariws accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and undedying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period. or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are depreciation and the valuation of investment property as described in notes 11 and 1 k above. Prior period comparatives: statement of financial activities 2024 Total Restricted Unrestricted Income from: Donations Charitable activities Other trading activities Investment income 10,300 286,276 83,249 64,613 10,300 297,549 83,249 64,613 11,273 Total income 11,273 444,438 455,711 Expenditure on: Raising funds Charitable activities 34,198 432,111 34,198 434,079 1,968 Total expenditure 1.968 466,309 468,277 Net income l (expenditure) and net movement in funds 21,871 12,566 18
Lincoln Area Regeneration Group Notes to the financial statements For the ear ended 31 March 2025 Income from donations 2025 Totsl 2024 Total Donations Gifts in kind" 590 10,000 300 10.000 Total income from donations 10,590 10.300 "Gifts in kind relate to free use of the community ntre. All income from donations was unrestricted in the current and prior year. Income from charitable activities 2025 Total Restricted Unrestricted Grants Poplar HARCA Local authority grants Non-local authority grants 221,188 221,188 400 4,162 400 4,162 Contracts Black History Month events 1.600 1,600 Total income from charitable activities 6.162 221,188 227,350 Prior period comparative: 2024 Total Restricted Unrestricted Poplar HARCA Local authority grants Non-local authority grants 281,183 1,920 3,173 281,183 2,320 14,046 400 10,873 Total income from charitable activities 11,273 286,276 297,549 19
Lincoln Area Regeneration Group Notes to the financial statements For the ear ended 31 March 2025 Income from other trading activities 2025 Totsl 2024 Total Ticket, bar and box office income Poplar Union hall hire Income recharge 56.135 46,254 14,786 37,926 45,323 Total income from other trading activities 117,175 83,249 All income from other trading activities was unrestricted in the current and prior year. Income from investments 2025 Total 2024 Total Mooring renlal Interest received 39,776 64,613 39,780 64,613 All income from investments was unrestricted in the current and prior year. Government grants The charitable company receives government grants, defined as funding from London Borough of Tower Hamlets to fund charitable activities. The total value of such grants in the period ending 31 March 2025 was £2.000 (2024: £2.320). There are no unfulfilled conditions or contingencies attaching to these grants. 20
Lincoln Area Regeneration Group Notes to the financial statements For the ear ended 31 March 2025 8. Total expenditure Support and governance costs Raising funds Charitable activities 2025 Total Staff costs {note 11) Box office, spotlight, project consultsncy Moorings Accountancy OfFice costs Legal & professional fees Rental costs Telephone, internet. IT & website Publicity Insurance Staff training Depreciation Grants payable (note 10) 35,879 224.512 27,901 288,292 103.186 103,186 30,846 30,595 19,105 18,466 17,812 11,514 4,144 1.240 600 475 360 30,846 30,595 19.105 18,466 17,812 11.514 1.795 1.240 2,349 600 475 360 Sub-total 69,074 379,999 77,562 526,635 Allocation of support and governance costs 10,687 66,875 77,562 Total expenditure 79.761 446,874 526,635 Total governan costs were £3,600 (2024: £3.450). 21
Lincoln Area Regeneration Group Notes to the financial statements For the ear ended 31 March 2025 8. Total expenditure (continued) Prior period comparative Support and governance costs Raising funds Charitable activities 2024 Total Staff costs (note 11) Box office, spotlight, project consultsncy Legal & professional fees Accountancy Telephone, internet. IT & website Moorings Rental costs Office costs Publicity Insurance Staff training Grants payable (note 10) Depreciation 13,176 199.814 13,343 226,333 111.604 111,604 40,390 30,850 19,344 13,535 11,563 7,090 3,689 1,341 1,284 770 484 40,390 30,850 19.344 13,535 11,563 7.090 1.514 1.341 2,175 1,284 770 Sub-total 28,886 353,524 85,867 468,277 Allocation of support and governance costs 5,312 80.555 85,867 Total expenditure 34,198 434,079 468,277 22
Lincoln Area Regeneration Group Notes to the financial statements For the ear ended 31 March 2025 9. Net movement in funds This is stated after charging: 2025 2024 Depreciation Operating lease payments Trustees. remuneration Trustees, reimbursed expenses Independent examiner's remuneration (excluding VAT)- Independent examination Payroll services 475 7,812 484 1,563 3,600 900 3,450 957 10. Grants payable During the year, there were no new grants awarded to individuals. In the prior year, 1 grant was awarded to an individual for gardening work within Tower Hamlets. Total grants committed to during the year were as follows: 2025 2024 Grants payable to individuals 360 770 11. Staff costs and numbers Staff costs were as follows.. 2025 2024 Salaries and wages Social security costs Pension costs Freelancers 266,294 18,039 3,959 198,455 8,687 2,806 16,385 288,292 226,333 There are no redundancy payments induded in staff costs this year {2024: £5,738). No employee earned more than £60,000 during the year. The key management personnel of the charitable company comprise the Trustees and the Chief Executive Officer. The total employee benefits of the key management personnel were £53,264 (2024: £29,122). 23
Lincoln Area Regeneration Group Notes to the financial statements For the ear ended 31 March 2025 11. Staff costs and numbers (continued) 2025 2024 Average head count 12.50 11.00 12. Taxation The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 13. Tangible fixed assets Office equipment Cost At 1 April 2024 Additions Disposals 1,651 1,099 851 At 31 March 2025 1,899 Depreciation At 1 April 2024 Charge for the year On disposals 1,052 475 851 At 31 March 2025 676 Net book value At 31 March 2025 1,223 At 31 March 2024 599 14. Investment property The mooring on the north side of Limehouse Cut beeen Upper North Street and Watts Grove is an investment property as it is held to generate rental income. It is therefore carried at its fair value. In the year ended 31 March 2025 the fair value of the mooring is deemed to be its cost due to the proximity to the purchase date, and as such there has been no formal valuation in the current period. 2025 2024 Market value at 1 April 2024 Additions at cost 240,149 230,531 9,618 Investment property valuation at 31 March 2025 240,149 240,149 24
Lincoln Area Regeneration Group Notes to the financial statements For the ear ended 31 March 2025 15. Debtors 2025 2024 Trade debtors Prepayments Other debtors 35,601 1,739 5,000 28,531 3,321 21,437 42,340 53,289 16. Creditors: amounts due within 1 year 2025 2024 Trade creditors Accruals Other creditors 14,653 6,734 3,545 9,436 11,116 3,183 24,932 23,735 17. Analysis of net assets between funds Restricted funds Designated funds General funds Total funds Tangible fixed assets Investment properties Current assets Current liabilities 1,223 240.149 29,849 (24.932) 1,223 240,149 72,993 24,932 3.144 40.000 Net assets at 31 March 2025 3.144 40,000 246,289 289,433 Prior period comparative Restricted funds Designated funds General funds Total funds Tangible fixed assets Investment properties Current assets Current liabilities 599 240,149 89.502 (23,735) 599 240,149 202,307 (23,735} 12,805 100.000 Net assets at 31 March 2024 12,805 100,000 306,515 419,320 25
Lincoln Area Regeneration Group Notes to the financial statements For the ear ended 31 March 2025 18. Movements in funds Transfers beeen At 31 March funds 2025 At 1 April 2024 Income Expenditure Restricted funds East End community fund Queen Mary University of London 12,805 4,321 (13,982) 3,144 1,841 Total restricted funds 12,805 6,162 (15,823) 3,144 Unrestricted funds Designated funds.. Improvement fund 3 month reserve 30,000 70,000 (30,000) 30,000 40,000 Total designated funds 100,000 (60,000) 40,000 General funds 306,515 390,586 450,812 246,289 Total unrestricted funds 406,515 390,586 (510,812 286,289 Total funds 419,320 396,748 {526,635) 289,433 Purposes of restricted funds East End community fund Community programme for the local residents. Queen Mary University of London These funds are ring-fenced for charitable activities in relation to a specific project for internships. Purposes of designated funds Improvement fund Reserves for the future improvement of premises and IT equipment. 3 month reserve The expected future costs that would be required in the event of winding up the charity. 26
Lincoln Area Regeneration Group Notes to the financial statements For the ear ended 31 March 2025 18. Movements in funds (continued) Prior period comparative Transfers beeen At 31 March funds 2024 At 1 April 2023 Income Expenditure Restricted funds East End community fund 3,500 11,273 1,968 12,805 Total restricted funds 3,500 11,273 1,968 12,805 Unrestricted funds Designated funds.. Improvement fund 3 month reserve 30,000 70,000 30,000 70,000 Total designated funds 100,000 100,000 General funds 328,386 444,438 (466,309) 306,515 Total unrestricted funds 428,386 466,309 406,515 Total funds 431,886 455,711 468,277 419,320 19. Operating lease commitments The charity had operating leases at the year end with total future minimum lease payments as follows= 2025 2024 Amount falling due.. Within 1 year Within 1- 5 years Due in more than 5 years 14,062 95,313 343,750 7,812 84,375 368,750 453,125 460,937 20. Related party transactions There were no related party transactions in the current or prior period. 27