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REGISTERED COMPANY NUMBER: 07637298 (England and Wales} REGISTERED CHARITY NUMBER: 1146871
Report of the Trustees and Unaudited Financlal Statements for the Year Ended 31st May 2025 for LiftonCommunityCentre Limited
ATC Advisors Chartered Accountants Unit 2 Dunheved Court Pennygillam Way LAUNCESTON Comwall PL15 7ED
Lifton Community Centre Limited
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Contents of the Financial Statements for the Year Ended 31st May 2025
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Page
Report of the Trustees 1 to 3
Independent Examiner’s Report 4
Statement of Financiat Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 13
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Lifton Community
Centre Limited (Registered number: 07637299
Report of the Trustees for the Year Ended 31st May 2025
:
The Trustees present their annual report and financial statements for the year ended 31 May 2025.
OBJECTIVES AND ACTIVITIES
Objectives and aims
To further or benefit the residents of Lifton and the neighbourhood, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interest of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for residents. In the furtherance of these objects but not otherwise, the Trustees shall have power:
To establish or secure the establishment of a Community Centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a centre for activities promoted by the Charity in the furtherance of the above objects.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Significant activities
This year was the seventh full year that the Community Centre has been open for public use.
CCTV has been installed covering both entrances and the back of the buitding.
A solar PV system with battery storage has also been installed.
Public benefit
The Charity was formed to establish or secure the establishment of a Community Centre and to maintain or manage this facility for the benefit of the whole of the local community in Lifton and the surrounding area.
The Trustees confirm they have referred to the Charity Commission's guidance on the Public Benefit when reviewing the aims and objectives of the Charity.
ACHIEVEMENTS AND PERFORMANCE The Trustees consider that the performance and achievements made during the year meet the objectives and expectations set by the Trustees at the start of the year.
FINANCIAL REVIEW
Financlat review
At the year end the Charity had the following on the balance sheet:
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Tangible fixed assets of £922,312
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Current assets of £32,176
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Current liabilities of £2,255
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Net assets of £952,233, of which £78,311 were unrestricted funds and £873,922 were in the form of restricted funds.
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Free reserves of £18,030 (2024 - £20,691)
The Trustees have considered the various risks the Charity might be exposed to and the Trustees consider that the reserve policy adopted is suitable to meet the objectives and aims of the Charity to provide a balance between its objectives and aims, including:
- The maintenance and management of the facility now that it is complete; - The Charity's ability to continue to meet its other aims, objectives and obligations, including its long term financial stability.
The Trustees of the Charity conduct monthly meetings where they review and record the actual level of reserves held in the bank. During these meetings the Trustees discuss targets previously set and take action as they see fit to reach the Charity's aims and objectives.
General operating reserves are set at a minimum of £10,000 and considerations are taken for specific project or legal and compliance reserves.
The Board of Trustees have reviewed ali the major risks to which the charity is exposed and collectively they are satisfied that the current policies and procedures are sufficient to mitigate the Charity's exposure to risk. The Board meet regularly to review and monitor the Charity’s exposure to risk.
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Lifton Community Centre Limited (Registered number: 07637299)
:
Report of the Trustees for the Year Ended 31st May 2025
FUTURE PLANS
The Trustees will continue to manage the Community Centre which is providing facilities for use by those in Lifton and the surrounding area. There are a number of potential projects that are being reviewed including electric charging points, an outdoor seating area and the addition of an additional meeting room.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Charity is a company limited by guarantee, as defined by the Companies Act 2006 and is controlled by its goveming documents, a deed of trust.
Charity constitution
The Lifton Community Centre was incorporated as a charitable company on the 17th May 2011.
The Charity is managed according to its Articles of Association.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
JN Dyke
RB Cheves
P F Cleary M Grenney Professor C T Lewis L G Marshall W8 Glen Mrs L M Alexander
Trustees are recruited and appointed as governed by the Charity’s Articles of Association.
None of the Trustees has any beneficial interest in the Company. All of the Trustees are members of the Company and guarantee to contribute £1 in the event of a winding up.
Lifton Community Centre Limited is controlled and managed by its Trustees whose powers are restricted by the Charity’s Articles of Association.
As the Charity has no employees, all decisions are made during regular meetings held by the Trustees.
The Trustees consider the Board of Trustees the key management personnel of the Charity. All Trustees give their time up freely to assist with the day to day running of the Charity. None of the Trustees were remunerated nor did they receive any other benefits from the Charity for their work during the year.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 07637299 (England and Wales)
Registered Charity number 1146871
Registered office 10 Hornapark Close Lifton Devon
PL16 OBE
Trustees
Ms L M Alexander Retired (appointed 17.6.24) RB Cheves Solicitor
P F Cleary Retired JN Dyke Retired W B Glen Retired
Ms M Grenney Therapy Support Worker Prof C T Lewis Company Chairman Retired Surgeon Mrs L G Marshall Retired
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Lifton Community Centre Limited (Registered number: 07637299)
Report of the Trustees for the Year Ended 31st May 2025
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner ATC Advisors Chartered Accountants Unit 2 Dunheved Court Pennygillam Way LAUNCESTON Comwall PL15 7ED Approved by order of the board of trustees on 2. Decerbyer 2°28 and signed on its behalf by:
Mrs L G Marshall - Trustee
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Independent Examiner's Report to the Trustees of Lifton Community Centre Limited
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Independent examiner's report to the trustees of Lifton Community Centre Limited (‘the Company’) | report to the charity trustees on my examination of the accounts of the Company for the year ended 31st May 2025.
Responsibllities and basis of report As the charity's trustees of the 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 Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the 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
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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)).
{ 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.
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Vz
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Ben Wevill FCA
ATC Advisors Chartered Accountants Unit 2 Dunheved Court Pennygillam Way LAUNCESTON Comwall PL15 7ED Date: 2. Gecember I02T
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Lifton Community Centre Limited
Statement of Financlal Activities for the Year Ended 31st May 2025
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|||||||||
|---|---|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Restncted|Total|Total|
|fund|fund|funds|funds|
|Notes|£|£|£|£|
|INCOME AND|ENDOWMENTS|FROM|
|Donations and|legacies|2,679|10,001|12,680|4,344|
|Charitable|activities|
|Charitable|activities|26,313|-|26,313|21,642|
|Investment|income|3|52|-|§2|-|
|Total|29,044|10,001|39,045|25,986|
|EXPENDITURE ON|
|Raising funds|1,440|-|1,440|524|
|Charitable|activities|4|
|Charitable|activities|21,314|21,078|42,392|36,448|
|Total|22,754|21,078|43,832|36,972|
|NET INCOMEAEXPENDITURE)|6,290|(11,077)|(4,787)|(10,986)|
|Transfers|between|funds|13|(5,000)|5,000|-|-|
|Net movement in funds|1,290|(6,077)|(4,787)|(10,986)|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought forward|77,021|879,999|957,020|968,006|
|TOTAL FUNDS CARRIED|FORWARD|78,311|873,922|952,233|957,020|
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The notes form part of these financial statements
Page 5
Lifton Community Centre Limited (Registered number: 07637299)
,
‘
Balance Sheet
31st May 2025
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|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Restricted|Total|Total|
|£|£|£|£|
|Notes|fund|fund|funds|funds|
|FIXED|ASSETS|
|Tangible assets|10|60,281|862,031|922,312|922,456|
|CURRENT ASSETS|
|Debtors|11|238|-|238|151|
|Cash|at bank|20,047|11,891|31,938|40,317|
|20,285|11,894|32,176|40,468|
|CREDITORS|
|Amounts falling due within one year|12|(2,255)|-|(2,255)|(5,904)|
|NET CURRENT ASSETS|18,030|11,891|29,921|34,564|
|TOTAL ASSETS LESS CURRENT LIABILITIES|78,311|873,922|952,233|957,020|
|NET ASSETS|78,311|873,922|952,233|957,020|
|FUNDS|13|
|Unrestricted|funds|78,311|77,021|
|Restricted funds|873,922|879,999|
|TOTAL FUNDS|952,233|957,020|
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2025 in accordance with Section 476 of the Companies Act 2006.
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The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
Theeoudee,{4% 2A2S......statementsandwere were signedapproved on its b ehalfy the by: Board of Trustees and authorised for issue on
KG Mak
L G Marshall - Trustee
The notes form part of these financial statements
Page 6
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Lifton Community Centre Limited
:
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CHARITY INFORMATION
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ACCOUNTING POLICIES
Notes to the Financlal Statements for the Year Ended 31st May 2025
Lifton Community Centre Ltd is a private company limited by guarantee incorporated in England and Wales.
The registered office is 10 Hornapark Close, Lifton, Devon, PL16 OBE, United Kingdom,
Basls of preparing the financial statements
The financial statements of the charitable company, 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 lreland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Critical accounting judgements and key sources of estimation uncertainty (n the application of the charity's accounting policies, the trustees are required to make judgements, 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 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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.
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Freehold property - 2%oncost Plant and machinery - 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. Restrictions arse 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.
Golng concern
The financial statements are prepared on the going concern basis. The trustees have assessed the charity's ability to continue as a going concern and have conciuded that there are no material uncertainties.
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Lifton Community Centre Limited
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Notes to the Financial Statements - continued for the Year Ended 31st May 2025
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|---|---|---|---|---|---|
|3.|INVESTMENT INCOME|2025|2024|
|£|£|
|Bank|interest received|52|-|
|4.|CHARITABLE ACTIVITIES COSTS|Support|
|costs|(see|
|note|5)|
|£|
|Charitable|activities|42,392|
|5.|SUPPORT COSTS|Governance|
|Management|Finance|costs|Totals|
|£|£|£|£|
|Charitable|activities|39,625|110|2,657|42,392|
|Support costs,|included in the above, are as follows:|2025|2024|
|Charitable|Total|
|activities|activities|
|£|£|
|Rates and|water|598|693|
|Insurance|1,342|1,258|
|Light and|heat|5,269|6,167|
|Telephone|227|2904|
|Postage and stationery|118|188|
|Sundries|430|648|
|Repairs and|renewals|4,778|3,065|
|Cleaning|costs|3,392|2,990|
|Gardening|1,425|-|
|Depn of Freehold|Property|19,949|18,285|
|Depn of Plant and Machinery|2,097|550|
|Bank charges|110|-|
|Accountancy|1,800|2,310|
|Professional|Fees|857|-|
|42,392|36,448|
|6.|NET INCOME/(EXPENDITURE)|
|Net income/(expenditure)|is stated|after charging/(crediting):|
|2025|2024|
|£|£|
|Depreciation|- owned assets|22,046|18,833|
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Lifton Community Centre Limited
Notes to theFinancial Statements - continued for the Year Ended 31st May 2025
TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st May 2025 nor for the year ended 31st May 2024.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31st May 2025 nor for the year ended 31st May 2024.
| 8. | COMPARATIVES FORTHESTATEMENTOF FINANCIAL | ACTIVITIES | ||
|---|---|---|---|---|
| Unrestricted fund |
Restricted fund |
Total funds |
||
| £ | £ | £ | ||
| INCOMEAND ENDOWMENTS FROM | ||||
| Donationsand jegacies | 4,344 | - | 4,344 | |
| Charitable activities | ||||
| Charitable activities | 21,642 | - | 21,642 | |
| Total | 25,986 | - | 25,986 | |
| EXPENDITURE ON | ||||
| Raisingfunds | 444 | 80 | 524 | |
| Charitable activities | ||||
| Charitable activities | 18,637 | 17,811 | 36,448 | |
| Total | 19,081 | 17,891 | 36,972 | |
| NETINCOME/(EXPENDITURE) | 6,905 | (17,891) | (10,986) | |
| Transfers between funds | {21} | 21 | - | |
| Netmovement infunds | 6,884 | (17,870) | (10,986) | |
| RECONCILIATION OF FUNDS | ||||
| Total funds broughtforward | 70,137 | 897,869 | 968,006 | |
| TOTALFUNDS CARRIED FORWARD | 77,021 | 879,999 | 957,020 | |
| 9. | INDEPENDENT EXAMINERREMUNERATION | |||
| 2025 | ||||
| £ | ||||
| Accountancy | 900 | |||
| Independent Examination | 900 | |||
| 1,800 |
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Lifton Community Centre Limited
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- TANGIBLE FIXED ASSETS
Notes to the Financial Statements - continued for the Year Ended. May 2025
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|||||||||
|---|---|---|---|---|---|---|---|
|Freehold|Plant and|
|property|machinery|Totals|
|£|£|£|
|CcOosT|
|At|1st June 2024|1,024,952|5,267|1,030,219|
|Additions|-|21,902|21,902|
|At|31st May 2025|1,024,952|27,169|1,052,121|
|DEPRECIATION|
|At|1st June 2024|103,630|4,133|107,763|
|Charge for year|20,299|1,747|22,046|
|At 31st May 2025|123,929|5,880|129,809|
|NET BOOK VALUE|
|At 31st May 2025|901,023|21,289|922,312|
|At 31st May 2024|921,322|1,134|922,456|
|11.|DEBTORS:|AMOUNTS FALLING|DUE WITHIN|ONE YEAR|
|2025|2024|
|£|£|
|Prepayments and accrued income|238|151|
|12.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|2025|2024|
|£|£|
|Trade|creditors|455|2,154|
|Accrued expenses|1,800|3,750|
|2,255|5,904|
|13.|MOVEMENT IN FUNDS|Net|Transfers|
|movement|between|At|
|At 1.6.24|in funds|funds|31.5.25|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|77,021|6,290|{5,000)|78,311|
|Restricted|funds|
|Restricted|Fund|879,999|(11,077)|5,000|873,922|
|TOTAL FUNDS|957,020|(4,787)|-|952,233|
|Net movement|in funds,|included|in|the|above|are|as follows:|
|incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General fund|29,044|(22,754)|6,290|
|Restricted|funds|
|Restricted|Fund|10,001|(21,078)|(11,077)|
|TOTAL FUNDS|39,045|(43,832)|(4,787)|
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Lifton Community Centre Limited
:
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Notes to the Financial Statements - continued for the Year Ended 31st May 2025
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Net|Transfers|
|movement|between|At|
|At|1.6.23|in funds|funds|31.5.24|
|£|£|£|£|
|Unrestricted|funds|
|General fund|70,137|6,905|(21)|77,021|
|Restricted|funds|
|Restricted|Fund|897,869|(17,891)|21|879,999|
|TOTAL FUNDS|968,006|(10,986)|-|957,020|
|Comparative|net movement|in|funds,|included|in the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|25,986|(19,081|}|6,905|
|Restricted|funds|
|Restricted|Fund|-|(17,891)|(17,891)|
|TOTAL|FUNDS|25,986|(36,972)|(10,986)|
|Accurrent year|12|months and|prior year|12|months combined|position|is as|follows:|
|Net|Transfers|
|movement|between|At|
|At|1.6.23|in funds|funds|31.5.25|
|£|£|£|£|
|Unrestricted|funds|
|General fund|70,137|13,195|(5,021)|78,311|
|Restricted|funds|
|Restricted|Fund|897,869|(28,968)|5,021|873,922|
|TOTAL FUNDS|968,006|(15,773)|-|952,233|
|Acurrent|year|12|months|and|prior|year|12|months|combined|net|movement|in|funds,|included|in|the|above|are|
|as|follows:|
|incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|55.030|(41,835)|13,195|
|Restricted|funds|
|Restricted|Fund|10,001|(38,969)|(28,968)|
|TOTAL FUNDS|65,031|(80,804|)|(15,773)|
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Lifton Community Centre Limited
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Notes to the Financlal Statements - continued for the Year Ended 31st May 2025
13. MOVEMENT IN FUNDS- continued
| NetMovement in | |||
|---|---|---|---|
| Restrictedfunds | At01.06.24 | Funds | At31.05.25 |
| £ | £ | £ | |
| Big LotteryFund KitchenFund |
13,949 372 |
(1,672) {40) |
12,276 332 |
| TableandChairsFund | 635 | (459) | 176 |
| Badminton Grant | 609 | (9) | 601 |
| Parish Council Grant -WiFi | 41 | (10) | 31 |
| CapitalFunding -CommunityCentre WDBC Grant - Solar Panels& Batteries |
864,393 - |
(19,130) 14,055 |
845,263 14,055 |
| CCTV | - | 1,188 | 1,188 |
| Totals | 879,999 | (6,077) | 873,922 |
Restricted funds
Capital Funding - Community Centre The Capital funds represent the capital purchase of the land in 2012, construction and the subsequent refurbishment of the building and purchase of other capital assets since that date. The capital items are depreciated over their useful economic lives.
The funding was provided by Big Lottery Fund, The Heydown Trust, Devon County Council, Garfield Weston Foundation, Bernard Sunley Charitable Foundation, Launceston Rotary Club, West Devon, Groundwork UK and a number of private donors. The transfer of these originally separated funds to one consolidated fund is shown above.
The balance of the funds is being released from the restricted fund through depreciation.
Big Lottery Fund
The charity has received significant funds from Big Lottery Fund, of which all but £15,000 was for the building of the centre. The remaining funds carried forward relate to the 2018 Building Capabilities grant and cash balances are being spent as and when criteria is met. The balance of the funds is being released from the restricted fund through depreciation.
Kitchen Fund
Funds of £9,000 were received from Devon County Council specifically for the kitting out of the kitchen.
Table and Chairs Fund
Launceston Rotary Club donated £1,000 to invest in tables and chairs for the building. The balance of funds is being released from the restricted fund through depreciation.
Badminton Grant
Funds were received specifically for investment into the badminton club. The balance of funds is being released from the restricted fund through depreciation.
Parish Council Grant
The parish granted the centre monies in 2019 to be spent on WiFi for the building. The balance of funds is being teleased from the restricted fund through depreciation.
West Devon Borough Council Grant £10,000 was received from West Devon Borough Council in 2025 to help with the cost of installation of solar panels and batteries. The balance of funds is being released from the restricted fund through depreciation.
CCTV Fund
Funds were transferred out of the Big Lottery Fund in 2025 to purchase CCTV. The balance of funds is being released from the restricted fund through depreciation.
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Lifton Community Centre Limited
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Notes to the Financial Statements - continued for the Year Ended 31st May 2025
13. MOVEMENT IN FUNDS- continued
Transfers between funds
£5,000 has been transferred from the General Fund to the Restricted Fund which represents funds identified to be used towards the purchase of solar panels.
14, RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st May 2025.
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