# Lands End Peninsula CLT Limited A Company Registered in England and Wales No: 7129906 **Financial Statements and Trustees’ Report Period 1[st] April 2022 to 31[st] March 2023** 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: None 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 2023** ## **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 Penwith Community Area Partnership Parishes, as defined by Cornwall Council] 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 three projects: towards establishing a Community Cemetery in Pendeen; providing a Skate Park in St Just and working towards improving the wider St Just Recreation Ground; providing sustainable homes for local people. The Land Transfer in Pendeen, for the community cemetery is now complete. The Skate Park opened on 10 July 2022. Progress is being made with Agile Properties, Cornwall Council’s Affordable Housing Team and LiveWest to enable surveys to be undertaken for a future planning application to be submitted. We have continued to work with Croft Mear residents to maintain the shared open spaces and a resident taking over the day to day maintenance tasks has been helpful and much appreciated. ## **Financial Review** Croft Mear. We continue to own and manage the open space around the Croft Mear properties where the owners (including Cornwall Council) pay us to manage the area. We are also working towards a £10,000 contingency fund for when the access road and parking area may need attention. Pendeen Community Cemetery sub group. Now the Land with Planning Consent for a community Cemetery is in our ownership, grant applications can be made to secure the necessary funds to open the cemetery and meet Pre-Planning Conditions. St Just Skate and Recreation Park sub group. National Lottery and Sport England grants, along with local donations, have been used to complete the building of the Skate Park in St Just. Some funds have enabled on-going coaching sessions. Local Housing. The Town Council grant obtained in the previous financial year enabled us to commission work by Agile Properties that has established the feasibility of providing 3 modular homes on a Cornwall Council plot in Lafrowda Close, St Just. Further grants are pending towards surveys necessary to progress towards submitting a planning application. 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 £5,000 of unrestricted funds, as a reserve, primarily for any works necessary to maintain the access road and parking area 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 manage the skate park facility and apply for grants to improve the wider facilities. - Work with Agile Properties, Cornwall Council, LiveWest and local people to submit a planning application for 3 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:** 12[th] September 2023 **…………………………..** 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 31st MARCH 2023** |**Restricted**
**Unrestricted**
**Funds**
**Funds**
**_Notes_**
**£**
**£**

**INCOMING RESOURCES**
**Incoming Resources from generated funds**
Voluntary Income
6
Property Income
1255
Pendeen Cemetery
1217
St Just Recreation Ground Skate Park
172191
**Total Incoming Resources**
**1261**
**173408**
**RESOURCES EXPENDED**
**Charitable Activities**
Affordable Housing
4065
0
Pendeen Cemetery
2272
St Just Recreation Ground Skate Park
153087
**4065**
**155359**
**NET INCOMING/(OUTGOING)**
**RESOURCES BEFORE TRANSFERS**
**-2804**
**18049**
**Gross Transfers between Funds**
0
0
**Net Incoming/(Outgoing) Resources**
-2804
18049
**TOTAL FUNDS CARRIED FORWARD**
5387
33404
**_The notes form part of these financial statements_**|**Total**
**Funds**
**£**
6
1255
1217
172191
**174669**
4065
2272
153087
**159424**|**Total**
**Funds**
**£**
6
1255
1217
172191
**174669**
4065
2272
153087
**159424**| |---|---|---| |||**15245**
0
**15245**| |||**38791**| |||| 8 ## **LANDS END PENINSULA CLT LIMITED BALANCE SHEET AS AT 31[ST] MARCH 2023** |||**Restricted**|**Unrestricted**|**2023**| |---|---|---|---|---| |||**Funds**|**Funds**|**Total**| |||||**Funds**| |**FIXED ASSETS**|**_Notes_**|**£**|**£**|**£**| |Tangible Assets||0|0|**0**| |**CURRENT ASSETS**||||| |Cash in Hand||0||0| |Cash at Bank||33404|5387|38791| |**DEBTORS**||0|0|0| |||33404|5387|**38791**| |**CREDITORS & ACCRUALS**||||| |Amounts falling due within one year|**_3_**|0|0|0| |**NET CURRENT (LIABILITIES)/ASSETS**||33404|5387|**38791**| |**TOTAL ASSETS LESS CURRENT LIABILITIES**||33404|5387|38791| |**CREDITORS**||||| |Amounts falling due after more than one||||| |year|**_4_**|0|0|0| |**NET ASSETS / (LIABILITIES)**||**33404**|**5387**|**38791**| |**FUNDS**|**_5_**|||| |Restricted Funds||33404||33404| |Unrestricted Funds|||5387|5387| |**TOTAL FUNDS**||**33404**|**5387**|**38791**| _**The notes form part of these financial statements**_ 9 ## **LANDS END PENINSULA CLT LIMITED** ## **BALANCE SHEET - CONTINUED AS AT 31st MARCH 2023 (Continued)** The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023 The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31st March 2023 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 12 September and were signed on their behalf by:** Mrs. S. 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 2023** __________________________________________________________________________________________________________________________________________________________ ## **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 2023 (continued)** |**LANDS END PENINSULA CLT LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED**
**31st MARCH 2023**
**(continued)**|**LANDS END PENINSULA CLT LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED**
**31st MARCH 2023**
**(continued)**| |---|---| |________________________________________________________________________________________________________________________________________________|| |**2023**|**_2022_**| |**£**|**_£_**| ## **2 TRUSTEES' REMUNERATION AND BENEFITS** There were no Trustees' remuneration or other benefits or expenses for the year ended 31st March 2023 |3**CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR**
4**CREDITORS : AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
5
**MOVEMENT IN**
**FUNDS**
**At 1/4/22**
**Net Funds**
**Movement**
**Unrestricted Funds**
8191
-2804
**Restricted Funds**
15355
18049
**TOTAL FUNDS**
**23546**
**15245**|0
_0_
0
_0_
**At 31/3/23**
5387
33404
**38791**| |---|---| 12 ## **LANDS END PENINSULA CLT LIMITED SUMMARY OF SUB GROUP ACTIVITIES FOR THE YEAR ENDED 31st MARCH 2023** |**Pendeen Cemetery**
**Income**
Donations
Centre of Pendeen Transfer
**Expenditure**
Legal Fees
Sail Banner
**Surplus/ (Deficit)**
**St Just Recreation Ground Skate Park**
**Income**
Donations
Co-op Local Community Fund
Grant Sports England Fund
Cornwall Council
St Just Town Council Grant
Grant Live West Homes
**Expenditure**
Sewer Survey
Architects Fees
Wall Repairs
Legal Fees
Canvas Spaces
**Surplus/ (Deficit)**|1217
0
**1217**
2154
118
**2272**
**-1055**
844
2214
121643
45940
1551
0
**172192**
0
723
1100
0
151265
**153088**
**19104**|1217
0
**1217**
2154
118
**2272**
**-1055**
844
2214
121643
45940
1551
0
**172192**
0
723
1100
0
151265
**153088**
**19104**|**_2022_**
_0_
_6624_
_6624_
_0_
_0_
_0_
_6624_
_7719_
_901_
_95000_
_0_
_0_
_1000_
_104620_
_402_
_0_
_0_
_4067_
_99579_
_104048_
_572_| |---|---|---|---| ||||| ||||| 13 ## **LANDS END PENINSULA CLT LIMITED** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] MARCH 2023** ## **2022** |**INCOMING RESOURCES**
**Voluntary Income**
Membership Fees
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**
Feasibilty Report
2400
Ground Maintenance
120
Christmas Tree Festival
0
Charity Annual
Return
13
**Pendeen Cemetery**
2272
**St Just Recreation Ground**
153088
**Total Resources Expended**|
1
5
0
**6**
**0**
330
940
**1276**
**1217**
**172192**
**174685**
1551
2533
4084
155360
**159444**|**_£_**
_5_
_5_
_2500_
_2510_
_0_
_360_
_410_
_770_
_6624_
_104620_
_114524_
_99_
_0_
_600_
_25_
_13_
_638_
_737_
_0_
_104048_
**_104785_**| |---|---|---| 14 Net Surplus/(Expenditure) 15241 9739