Company No. 08562575 Charity No. 1156607 ST GORAN CLT LTD A COMPANY UMtTED BY GUARANTEE ANNUAL REPORT AND UNAUDITED FINAN TATEME￿s 30 JUNE 2025 CHARTERED AccOU￿A￿rS REGISTERED AUDITORS 9 TREGARNE TERRACE 3T AU3TELL Page I ST GORAN CLT LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 cowrENrs Trnstees and Advisers Trustees, Annual Report Independent Examinefs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7-11 Income and Expenditure Account - Unrestricted Funds 12 Page 2 ST GORAN CLT LTD TRUSTEES AND ADVISERS 30 JUNE 2025 PRINCIPAL AND REGISTERED OFFICE St Goran CLT Ltd Benhurden Farni Gorran ST AUSTELL Cornwall PL26 6LQ Registered Number: 1156607 Company Number: 08562575 USTEES Christopher Lobb (Chair) Geofftey Hayhurst Paul Grimmett (resigned 14/07/2024) Paut Grose Katy Ratry Thomas Wbite Amanda Walsh (appointed 27/07/2024) Lewis Foyle (appointed 07/08/2024) David Scott (appointed 19/06/2025) INDEPENDE1￿ EXA[￿NERs Phillips Frith LLP 9 Tregarne Terrace ST AUSTELL Cornwall PL25 4DD Page 3 ST GORAN CLT LTD TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025 The Trustees of St Goran CLT Ltd present their report for the year ended 30 June 2025. Registered address: Benhurden Farni St Austell PL26 6LQ Trustees (at the date of thls report): Christopher Lobb (Chair) Nigel Bamber (appointed 11/07/2025) Lewis Foyle (appointed 07/08/2024) Paul Grose Geoff Hayhurst Kate Ratty David Scott (appointed 19/06/2025) Amanda Walsh (appointed 27/07/2024) Tom White Retirements during the year: none. Appolntment of Trustees: Trustees are appointed as necessary from the communities of Gorran and surrounding areas. Activlties: The charity continue5 to operate as a Community Land Trust> providing affordable accommodation to people from the local area, as well as facilities for community activities and meetings. In the year ended 30 June 2025, the Trust was able to make a total of £28,000 in capital repayments to Triodos Bank ahead of schedule. At the year end the outsLanding loan was reduced below £170,000. Flnancial position and reserves: St Goran CLT Ltd is in a healthy finanaal position with adequate reserves. SIGNED ON BEHALF OF THE TRUSTEES Mr C Lobb Chairman 201 Mr G Hayhurst Page 4 ST GORAN CLT LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST GORAN CLT LTD I report to the trustees on my examination of the financial statements of St Goran CLT Ltd for the year ended 30 June 2025. Re8ponsibilAties and basis of report As the chari￿5 trustees of the Company (who are also the directors of the company 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 Acfy. Having satisfied myself that the accounts of St Goran CLT Ltd are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your clwitys accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Ace,). In carryin8 out my examination, I have followed the Directions given by the Charity Commission (under section 145 (5) (b) of the 2011 Act. As the Trustees of St Goran CLT Ltd you are responsible for the preparation of the financial statements in accordance with the requirements of the Ckwities Act 2011 (the 2011 Act). Independent examiner's statement I have completed my examination. I confllm that no material matters have come to my attention in connection with the examination which 8ives me cause to believe that; accoulktins records were not kept in accordance with section 386 of the Companies Act 2006; or the financial statements do not accord with such records. or the financial statements do not comply with the relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a true and fairf view which is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordan￿ with the Charities SOPP (FRS102) 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. Ian Chalmers FCA Independent Examiner For and on behalf of: PHILIIPS FRMI Ll CIWITERED ACCOUNTANTS 9 Tregarne T￿ace ST AUSTEIL PL25 4DD Date: Page 5 ST GORAN CLT LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUN FOR THE YEAR ENDED 30 JUNE 2025 Un- restrleted Restrlcted fund Total funds Total fimds Endowment funds Not INCOME FROM: Donations, grants and legacÉes Charitable activities Investments 1,359 41.568 66 1,359 41,568 66 351,313 34,726 95 TOTAL INCOME 42,993 42,993 386,134 EXPENDITURE ON: Chariiable actiwties 20,222 23,011 TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) AND NET MOVEMENf IN FUNDS 22,771 22,771 363,123 RECONCILATION OF FUNDS: Total fL￿dS brought forward 561,130 561 130 198 007 TOTAL FUNDS CARRIED FORWARD 583 901 583 901 561130 The statement of financial activities includes all gains and losses reco￿lSed in the year. The notes on pages 7 - 11 forni part of these accounts. Page 6 ST GORAN CLT LTD BAL4NCE SHEET AS AT 30 JUNE 2025 2025 2024 Notes FIXED ASSETS Tangible fixed assets 745,226 745,380 CURRENT ASSETS Debtors Cash at bank and in hand 375 10,137 10,512 988 15,629 16,617 CURRE￿ LL4BILITES Creditors: amounts falling due within one year 2,427 NET CURRENT ASSETS 8,185 TOTAL ASSETS LESS CURRENT LIABIIITES 753,411 759,570 Creditors: amounts falling due after rnore than one year 10 (169,510) (198,440) NET ASSETS 583,901 561,130 Unrestticred funds 583,901 561 130 TOTAL FUNDS 583 901 561130 The company was entided to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2006. The directors acknowledge their responsibi]ities for COEnplying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies. regime and in accordance with FRS 102 SORP. Approved by the Trustees and authorised for i&sue on behalf by: 02- 10- 2025 and signed on their Mr C Lobb r G Hayhurst Company Registration Nllmber 08562575 The notes on pages 7 to I I forni part of these financial statements. Pase 7 ST GORAN CLT LTD NOTES TO THE FINANCIAL sTATEME￿s FOR THE YL4R ENDED 30 JUNE 2025 ACCOUNTING POLICIES Charity Information St Goran CLT Ltd is a private charitable company limited by guarantee and has no share capital, Inco￿)rated in England and Wales. The principal address is St Goran CLT Ltd, Benhurden Fann, Go￿. St Austell, Cornwall, PL26 6LQ a) Basls of preparation and compliance wlth statutory requirements These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with the statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Financial Reporring Standard applicable in the United Kingdom alld Republic of Ireland (FRS 102) and with the Charities Act 2011. The accounts are prepared in sterllng, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The Charity meets the defmition of a public benefit entlty under FRS 102. Assets and liabilities are inltially recognised at historical cost or transaction value. The principal accounting policies adopted are set out below. The financial statements have been prepared on the assumption that the Charfty is able to carry on as a going concern. The Trustees have no material uncertainties about the ChariWs ability to continue. b) Income Income is recogrjised when the Charity has entidement to the funds, any perforn￿nCe condldons attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. i) GRANTS AND DONATIONS Grants and donations are recognised when receivable. Grants and donations received for the general purposes of the Charity are included a5 unrestricted fLmds. ii) GRANTS AND GOVEIINMENT GRANTS Income frorn government and other grants, induding capital grants, is recognised when the Charity has entitlement to the funds. it is probable that the income will be received and the amollnt can be measured reliably, except as follows:_ When donors specify that grants given to the Charity must be used in future accounting years, the income is deferred until those years. When donors impose conditions which have to be fu]filled before the Ch￿lty becomes entitled to use such income, the income is deferred and not included in incoming resources until the pre-conditions for use have been met. A grant received before the recognition criteria are satisfied is recognised as a liability. Page 8 ST GORAN CLT LTD NOTES TO THE FINANCIAL STATEMENTS continued FOR THE YL4R EIWED 30 JUNE 2025 I ACCOUWTING POLICIES (continued) ill) CHARITABLE ACTtvrrIES Income from charitable activities comprises of rental income and room hire. These are accounted for in the year in which the service is provided. e) Donated goods and senrlces Donated fixed assets are induded in income at the estimated value of the gift to the charity when received, with the other enty being capitalised in fixed assets. In accordance with the Charities SORP (FRS 102), the general volunteer time provided to the Charity is not recognised. d) Expendlture Expenditure is recognised once there is a legal or constructed 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, Expenditure is accounted for on an aCcrU￿S basis and is dassified under the following activity headings: Expenditure on charitable activities includes the costs incurred by the Charity in meeting the charitable PULposes. Other expenditure represents those items not fallin8 into any other heading. e) Tangible fixed assets and depredatlon Tangible fixed assets are capitalised alld included at cost including any inadental expenses of acquisition if in line with the donor documentstion. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost over their expected economic lives as follows: Freehold property Fixtures, fittings and equipment - Not depreciated - 20 % per annum on the reducing balance method f) Flnancial instnmients The Charity only has financial assets and financial liabilities of a kind that qualify as basie fmancial instrLunents. Basic finanaal instruments are initially recognised at transattion value and subsequently measured at their settlement value. Page 9 ST GOIIAN CLT LTD NOTES TO THE FINANCIAL STATEMENrs continued FOR THE YL4R ENDED 30 JUNE 2025 2 INCOME FROM DONATIONS 2025 2024 Donations? grants and legacles Donations and gifts General gifts provided by the government Membership subscriptions and sponsorships 350,095 100 100 TOTAL 1,359 351,313 3 CHARITABII ACTivrriES 2025 202 Rental Income Old School Rooms room hire 34,718 28,395 41,568 34,726 4 INVESTMENT INCOME 2025 2024 Bank interest receivable 66 95 5 TOTAL RESOURCES EXPENDED Activities undertaken directl Support Governance costs costs 2025 otal 2024 Total Expenditure on tharltable actlvltles Building management costs Financing costs DeprecÉation Property repairs and maintenan Accountancy 4,387 12,094 154 2,687 900 4,387 12,094 154 2,687 900 4,455 14,472 192 3,412 480 Total resources expended 23,011 Page 10 ST GORAN CLT LTD NOTES TO THE FINANCIAL STATEMEwrs FOR THE YEAR ENDED 30 JUNE 2025 continued 6 TAXATION St Goran CLT Ltd is a registered charity and is thus exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or 5256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax ch￿geS have arisen in the Charity. There was no UK Corporation Tax payable by St Goran CLT Ltd in 2025 or 2024. 7 TANGIBLE FIXED ASSETS Freehold land and bulldlngs Equlpment Total Cost: At l July 2024 Additions At 30 June 2025 744,612 3,984 748,596 748 596 Depreclatlon: At l July 2024 Charge for the year At 30 June 2025 3,216 154 3,370 3,216 154 Net Book Value: 30 June 2025 744,612 614 745,226 30 June 2024 768 745,380 DEBTORS 2025 2024 Other debtors 375 988 Page 11 ST GORAN CLT LTD NOTES TO THE FINANCIAL STATEMENTS continued FOR THE YEAR ENDED 30 JUNE 2025 9 CREDITORS: AMOUNTS FAILING DUE 2025 2024 Trade creditors Accruals Bank loans and overdrafts 105 1,022 281 946 2,327 10 CREDITORS: AMOUNTS FALIING DUE AFTER MORE THAN ONE YL4R 2025 2024 Bank loans and overdrafts Other creditors 167,205 2.305 196,151 169,510 198,440 Page 12 ST GORAN CLT LTD INCOME AND EXPENDITURE ACCOUNT . UNRESTRICTED FOR THE YL4R ENDED 30 JUNE 2025 Year ended 30 Year ended 30 INCOME Donations and gifts General grants Membership subscriptions and sponsorships Rental incotne Old School Rooms room hire Interest received 350,095 100 1,118 28,395 6,331 95 386,134 100 1,259 34.718 6,850 66 42,993 EXPENDITURE Building management costs Financing costs Depreciation Property repairs and maintenance charges Accountancy 4,387 12,094 154 2,687 900 4,455 14,472 192 3,412 SURPLUS FOR YEAR 22,771 363,123