# Lands End Peninsula CLT Limited A Company Registered in England and Wales No: 7129906 **Financial Statements and Trustees’ Report Period 1[st] April 2021 to 31[st] March 2022** 2 ## **Legal and Administrative lnformation** **Name:** Lands End Peninsula CLT Limited **Reg'd Company:** 7129906 **Structure:** Charitable company limited by guarantee, not having any share capital **Trustees:** Chair Sue James Others Sharon Brolly Norman Emberson Delia Webb Catherine Goodman Tim Wotton Trustees are elected by the membership at each Annual General Meeting Trustee Declarations of lnterest: Sue (full name Suzanne) James was an elected member of Cornwall Council for St Just-inPenwith until May 2021, so during the period covered by this report. Secretary: Catherine Goodman Professional Advice: Director, Cornwall Community Land Trust Address: c/o St Just Town Council & Library Market Street St Just Cornwall TR19 7HX Bankers: The Cooperative Bank PO Box 250 Skelmersdale WN8 6WT lndependent Examiner: Alan Shepherd Lands End Peninsula CLT Limited - Company Registered in England & Wales No:7129906 3 ## **LANDS END PENINSULA CLT LIMITED REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2022** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing Document** Lands End Peninsula CLT Limited is a company limited by guarantee, incorporated on 19th January 2010. The company was established under a Memorandum of Association which established the objects and powers of the company and is governed under its Articles of Association. In the event of the company being wound up, the members are required to contribute an amount not exceeding £1. ## **Recruitment and Appointment of Trustees** The Directors of the Charitable Company are the Trustees of the organisation. Under the requirements of the Memorandum and Articles of Association, one-third of the Trustees who are subject to rotation, retire at the Annual General Meeting and retiring Trustees who are eligible may declare their intention to stand for re-election. ## **Risk Management** The trustees have a duty to identify and review the risks to which the charitable company is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **Organisational Structure** The Board of Trustees meet to make all decisions. No staff are employed. There are two sub-committees that are working on specific projects, Chaired by Trustees. ## **Objectives and activities** The aims of the charitable company are: - The provision of houses or hostels and any associated amenities for persons in necessitous circumstances upon terms appropriate to their means; - The provision for the aged, disabled, handicapped (whether mentally or physically) or chronically sick persons in need thereof, of houses or hostels and any associated amenities specially designed or adapted to meet the disabilities and requirements of such persons; - The provision of services, advice or assistance upon terms appropriate to their means to aged, disabled, handicapped (whether mentally or physically) or chronically sick persons in need thereof; - The provision of facilities for recreation or other leisure time occupation in the interest of social welfare with the object of improving the conditions of life for the residents of the area of benefit: - The relief of poverty in such ways as may be thought fit amongst the residents of the area of benefit; - The advancement of education and vocational training amongst the residents of the area of benefit and the creation of training and employment opportunities by the provision of workspaces, buildings and/or land for use on favourable terms; Lands End Peninsula CLT Limited - Company Registered in England & Wales No:7129906 4 - The protection or conservation of the environment including the conservation, restoration and re-establishment of trees in particular broad-leafed trees plants and all forms of wildlife and thereby to secure the enjoyment by the residents of the area of benefit of the natural environment; - The provision of public health facilities. [The ‘area of benefit’ means the Cornwall Council Community Network Areas of West Penwith and Hayle & St Ives] Lands End Peninsula CLT Limited - Company Registered in England & Wales No:7129906 5 ## **ACHIEVEMENT AND PERFORMANCE** ## **Highlights of the year include:** We have continued to support two projects; one working to establish a Community Cemetery in Pendeen, the other providing the St Just Skate and improving the St Just Recreation Ground. The completion and official opening of the Skate Park is in sight, although delayed by the Pandemic and weather. Legal complications over the Land Transfer halted progress with the Community Cemetery, in terms of it starting and fund raising; Land Transfer is a pre-requisite to most large grant applications, which will be needed. We have also continued to work with Croft Mear residents to maintain the open shared spaces, with a resident taking over the day to day maintenance tasks. We are again looking towards providing housing to local people and early feasibility work is ongoing with Agile Properties for Modular, off site built sustainable homes, as a small pilot project in St Just. To succeed, this pilot will require Cornwall Council to transfer land to us at social rather than market value and for LiveWest to cooperate with us to allow foot and construction access over their land and to facilitate increased parking. ## **Financial Review** Croft Mear. We continue to manage the open space around the Croft Mear properties where the owners pay us a maintenance and administration fee. This is also to provide a contingency fund for when the access road and parking area may need attention. Pendeen Community Cemetery sub group. Although the Pendeen Community Cemetery Project transferred to the local community centre (Centre of Pendeen) adjacent to the field for the cemetery in July 2020, a change in their committee led to the Group returning to us in October 2021, transferring £6623.57 into our Project Account. St Just Skate and Recreation Park sub group. National Lottery and Sport England grants have been secured and will be drawn down as the Trust is invoiced; the first invoice and draw down took place at the end of our financial year. Local Housing. A Town Council grant enabled us to commission work by Agile Properties to assess the feasibility of providing modular homes on a small Cornwall Council plot without vehicular access. Agile will also support our access to funding. This work is ongoing. Reserves Policy. Three years ago we set up a £1000 reserve fund with some of the proceeds from the fee we received when one of the Croft Mear homes was sold. We now have £4,500 of unrestricted funds, as a reserve, primarily in case of remedial works being necessary at Croft Mear. ## **Priorities for the coming year:** - Continue to work with Croft Mear residents to maintain open areas in-line with their wishes. - Support the St Just Skate and Recreation Park subgroup to deliver the skate park facility and then consider appropriate improvements to the wider facilities. - Work with Agile Properties and others to develop a plan for the delivery of modular homes for local people. - Listen and support other community led groups wanting to secure land or buildings for community benefit but only take on financially viable schemes. Lands End Peninsula CLT Limited - Company Registered in England & Wales No:7129906 6 ## **TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS** The trustees, directors of the Charitable Company, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the company for that period. ln preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; and - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **ON BEHALF OF THE BOARD:** **…………………………………………………………………………………….** ## **Sue James – Trustee** **Date:** 1[st] November 2022 **…………………………..** Lands End Peninsula CLT Limited - Company Registered in England & Wales No:7129906 7 ## **LANDS END PENINSULA CLT LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** _____________________________________________________________________________________________________________ |**Unrestricted**
**Restricted**
**Funds**
**Funds**


**_Notes_**
**£**
**£**

**INCOMING RESOURCES**
**Incoming Resources from generated funds**
Voluntary Income
2510
Property Income
770
Pendeen Cemetery
6624
St Just Recreation Ground Skate Park
104620
**Total Incoming Resources**
**3280**
**111244**
**RESOURCES EXPENDED**
**Charitable Activities**
Affordable Housing
**_5_**
737
0
Pendeen Cemetery
0
St Just Recreation Ground Skate Park
104048
**737**
**104048**
**NET INCOMING/(OUTGOING)**
**RESOURCES BEFORE TRANSFERS**
**2543**
**7196**
**Gross Transfers between Funds**
0
0
**Net Incoming/(Outgoing) Resources**
2543
7196
**TOTAL FUNDS CARRIED FORWARD**
8206
15355|**2022**
**_Total_**
**Funds**
**£**
2510
770
6624
104620
**114524**
737
0
104048
**104785**|**2022**
**_Total_**
**Funds**
**£**
2510
770
6624
104620
**114524**
737
0
104048
**104785**|**2022**
**_Total_**
**Funds**
**£**
2510
770
6624
104620
**114524**
737
0
104048
**104785**| |---|---|---|---| |||**9739**
0
**9739**
**23561**|**9739**
0
**9739**| 8 ## _**The notes form part of these financial statements**_ ## **LANDS END PENINSULA CLT LIMITED BALANCE SHEET** ## **AS AT 31 MARCH 2022** |**LANDS END PENINSULA CLT LIMITED**
**BALANCE SHEET**
**AS AT 31 MARCH 2022**|**LANDS END PENINSULA CLT LIMITED**
**BALANCE SHEET**
**AS AT 31 MARCH 2022**|**LANDS END PENINSULA CLT LIMITED**
**BALANCE SHEET**
**AS AT 31 MARCH 2022**|**LANDS END PENINSULA CLT LIMITED**
**BALANCE SHEET**
**AS AT 31 MARCH 2022**|**LANDS END PENINSULA CLT LIMITED**
**BALANCE SHEET**
**AS AT 31 MARCH 2022**| |---|---|---|---|---| |_______________________________________________________________________________________________________________________________________________________||||| |||**Restricted**|**Unrestricted**|**2022**| |||**Funds**|**Funds**|**Total**| |||||**Funds**| |**FIXED ASSETS**|**_Notes_**|**£**|**£**|**£**| |Tangible Assets||0|0|**0**| |**CURRENT ASSETS**||||| |Cash in||||| |Hand||0||0| |Cash at Bank||15355|8191|23546| |**DEBTORS**||0|15|15| |||15355|8206|**23561**| |**CREDITORS & ACCRUALS**||||| |Amounts falling due within one year||**_3_**
0|0|0| |**NET CURRENT (LIABILITIES)/ASSETS**||15355|8206|**23561**| |**TOTAL ASSETS LESS CURRENT LIABILITIES**||15355|8206|23561| |**CREDITORS**||||| |Amounts falling due after more than one year||**_4_**
0|0|0| |**NET ASSETS / (LIABILITIES)**||**15355**|**8206**|**23561**| |**FUNDS**||**_6_**||| |Restricted Funds||15355||15355| |Unrestricted Funds|||8206|8206| |**TOTAL FUNDS**||**15355**|**8206**|**23561**| 9 ## **LANDS END PENINSULA CLT LIMITED BALANCE SHEET - CONTINUED AT 31 MARCH 2022 (…cont.)** The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022 The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006. The Trustees acknowledge their responsibility for (a) Ensuring that the charitable company keeps accounting records that comply with Sections 386 & 387 of the Companies Act 2006 and, (b) Preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of the Companies Act 2006, Sections 394 & 395 and which otherwise comply with the requirements of the Act relating to financial so far as sis applicable to the charitable company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008). ## **The financial statements were approved by the Board on 1[st] November 2022 and were signed on their behalf by:** **Mrs Sue James – Trustee** **The notes form part of these financial statements** 10 # **LANDS END PENINSULA CLT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED** ## **31st March 2022** __________________________________________________________________________________________________________________________________________________________ ## **1. ACCOUNTING POLICIES** ## **Accounting Convention** The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. ## **Incoming Resources** All Incoming Resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. ## **Resources Expended** Expenditure is accounted for an an accruals basis and has been classified under headings that aggregate all the 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** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant & Machinery etc. -25% on reducing balance ## **Taxation** The charity is exempt from corporation tax on its charitable activities ## **Fund Accounting** Unrestricted Funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restricted Funds can only be used for particular restricted purposes within the objects of the charity. Restriction arises when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 11 ## **LANDS END PENINSULA CLT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2022 (continued)** |**LANDS END PENINSULA CLT LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED**
**31st MARCH 2022**
**(continued)**|**LANDS END PENINSULA CLT LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED**
**31st MARCH 2022**
**(continued)**|**LANDS END PENINSULA CLT LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED**
**31st MARCH 2022**
**(continued)**|**LANDS END PENINSULA CLT LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED**
**31st MARCH 2022**
**(continued)**|**LANDS END PENINSULA CLT LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED**
**31st MARCH 2022**
**(continued)**| |---|---|---|---|---| |________________________________________________________________________________________________________________________________________________||||| ||||**2022**|**_2021_**| ||||**£**
|**_£_**| |**2 TRUSTEES' REMUNERATION AND BENEFITS**||||| |There were no Trustees' remuneration or||other benefits or expenses for the year ended 31st March 2021||| |3**CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR**|||0|_410_| |4**CREDITORS : AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**|||0|_0_| ||**At**|||| |5**MOVEMENT IN FUNDS**|**1/4/21**|**Net Funds**|**At 31/3/22**|| |||**Movement**||| |**Unrestricted Funds**|5663|
2543|8206|| |**Restricted**||||| |**Funds**|8159|
7196|15355|| |**TOTAL FUNDS**|**13822**|**9739**|**23561**|| 12 ## **LANDS END PENINSULA CLT LIMITED** ## **SUMMARY OF SUB GROUP ACTIVITIES FOR THE YEAR ENDED MARCH 31 2022** |**Pendeen Cemetery**
**Income**
Donations
Centre of Pendeen Transfer
**Expenditure**
Planning Application & Fees
Centre of Pendeen Transfers
Survey Fees
Groundwater Monitoring
**Surplus/ (Deficit)**
**St Just Recreation Ground Skate**
**Park**
**Income**
Donations
Funds Raised
Grant Sports England Fund
Grant Live West Homes
**Expenditure**
Sewer Survey
Legal Fees
Canvas Spaces
**Surplus/ (Deficit)**|0
6624
**6624**
0
0
0
0
**0**
**6624**
7719
901
95000
1000
**104620**
402
4067
99579
**104048**
**572**|**_2021_**
_289_
_0_
_289_
_296_
_2231_
_0_
_0_
_2527_| |---|---|---| |||_4097_| |||_5500_
_0_
_0_
_2000_| |||_7500_
_300_
_0_
_300_
_7200_| 13 ## **LANDS END PENINSULA CLT LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** |**INCOMING RESOURCES**
**Voluntary Income**
Membership Fees
Sale of Mower
Donation
Town Council Grant
**Investment Income**
Interest Receivable
**Property Income**
Ground Maintenance
Open Space Maintenance Charge
**Pendeen Cemetery**
**St Just Recreation Ground**
**Total Incoming Resources**
**RESOURCES EXPENDED**
**Charitable Activities**
Insurance & Subscriptions
**Legal, Professional & Property**
**Costs**
Lottery Licence
0
Fencing Repairs
0
Grass Cutting
600
Christmas Tree
Festival
25
Charity Annual
13|**_2021_**
**_£_**
5
_1_
0
_75_
5
_5_
2500
_0_
**2510**
_81_
**0**
_0_
360
_360_
410
_530_
**770**
_890_
**6624**
_289_
**104620**
_7500_
**114524**
_8760_
99
_99_
_20_
_150_
_480_
_0_
_13_| |---|---| 14 ## Return |Return||| |---|---|---| |**Pendeen Cemetery**
0
**St Just Recreation Ground**
104048
**Total Resources Expended**
**Net Surplus/(Expenditure)**|638
737
104048
**104785**
**9739**|_663_
_762_
_2527_
_300_
**_3589_**
**_5171_**| ||||