Charity number: 1159007
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the charity, its trustees and advisers | 1 |
| Trustees' report | 2 - 8 |
| Independent examiner's report | 9 |
| Statement of financial activities | 10 |
| Income and expenditure account | 10 |
| Balance sheet | 11 |
| Statement of cash flows | 12 |
| Notes to the financial statements | 13 - 22 |
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2024
Trustees
Barbara Gillies Karen Wardle Anna Hindle (resigned ) Patricia Morey (resigned ) Andrew Robert Pratt MBE (appointed 20 June 2025) Richard Cupid (appointed 2 May 2025) Jeanette Smalley (appointed 31 March 2025)
Company registered number
0000000
Charity registered number
1159007
Registered office
Ashton Park, Preston, Lancashire, PR2 1HL
Accountants
CW Accountants Limited, Office 5, The Boulevard Centre, 45 Railway Road, Blackburn, Lancashire, BB1 1EZ
Bankers
The Co-Operative Bank PLC, PO Box 101, 1 Balloon Street, Manchester, M60 4EP
Page 1
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2024
The Trustees present their annual report together with the financial statements of the company for the 1 November 2023 to 31 October 2024. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
Objectives and Activities
a. POLICIES AND OBJECTIVES
Our objectives are;
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Improve and maintain for the benefit of the inhabitants of Preston (defined as the PR postcodes) and its visitors, the gardens, landscaped areas, open spaces, playing fields, playgrounds and recreational amenity spaces with the object of improving the conditions of life of the public by providing resources and support which are ancillary to those provided by the local authority.
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The advancement of education in the conservation, protection and improvement of such places with the object of improving the health and well-being, and developing the self-confidence, social skills, work skills and horticultural skills of the inhabitants of Preston (defined as the PR postcodes) and its visitors.
b. ACTIVITIES FOR ACHIEVING OBJECTIVES
Main Activities
Provide training/resources to help community groups to manage and maintain green spaces Provide a network of communication and support for community environmental groups, activities and people Promote an environment of skill sharing, volunteering and sharing of resources Encourage the formation of new community based groups Promote and publicise community environmental activities
c. MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT
Social and Therapeutic Horticulture
Delivered over 1,000 horticulture sessions with an average attendance of 14 people, resulting in over 21,000 volunteer hours.
Based on the Real Living Wage (£11.83/hour), the volunteer contribution is valued at approximately £248,430.
Community Events and Outreach
Hosted annual Spring Fair, attracting over 500 attendees each year. This Event showcased diverse performances including brass bands, Bollywood dancers, and featured local, ethical traders. National Garden Scheme Open Day, engaging an average of 45 attendees per event, connecting us to local gardening clubs and businesses. Attended major community events such as Preston Mela, Windrush 76, and various fetes and fairs, reaching approximately 1500 individuals Bulbs of hope project reached over 300 individuals Various public speaking events including representing the charity at national conferences.
Workshops and Training
Delivered 25 outreach workshops (e.g., Bulbs of Hope, Leave an Impression, Sowing Seeds for the Community)
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LETS GROW PRESTON
(A Charitable Incorporated Organisation)
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2024
in community centres across Preston, engaging around 1,000 individuals.
Ran over 30 training courses in horticulture and willow weaving, averaging 12 attendees per course. Participants valued each course at approximately £35.
Provided 60 hours of outreach activities across 8 schools, engaging 740 children. Facilitated 2 cookery courses for a total of 30 participants.
Regularly run a bereavement café, sewing club, and "chat and chippy" events, each engaging around 30 people monthly.
Volunteering and Employment
Maintain an active volunteer base of 60–80+ volunteers weekly across three sites (currently over 80, with further growth expected).
Over 300 individuals are registered on our volunteer database. 87% of beneficiaries and volunteers report improved mental health from participating in our activities. 6 individuals reported that our services directly prevented their death by suicide.
Supported the direct employment of 1 volunteer through progression from volunteering.
Food Distribution and Environmental Impact
Food Distribution and Environmental Impact Distributed 1412 kg of fruit and vegetables, valued at £7000 retail, providing approximately 17651 meals and saving 1.6 tonnes of carbon, according to the Sustain Harvestometer. Weekly van collections from Fareshare: over 150 food collections annually, supporting an estimated 300 families each week. Donated over 200 buckets of living vegetables to families and primary schools at engagement events. Provided over 30 donations of gardening equipment and plants (e.g., wheelbarrows, pots, seeds) to schools, community gardens, and local organisations. Repaired and redistributed over 20 recycled tools back into community gardens.
Accredited Learning
Over 90 individuals have gained accredited horticultural qualifications through courses delivered onsite by Lancashire Adult Learning and Myerscough College.
Sustainability Achievements
Donations of plant pots and materials from local florists and suppliers diverted approximately 3 tonnes of waste from landfill annually, saving us about £800 per year.
General public donations of materials saved us a further £600 annually in purchasing costs.
Education and Schools Engagement
Hosted over 50 visits from primary schools, secondary schools, and colleges, including students with special educational needs and disabilities (SEND).
Environmental Clean-up
Organised 12 litter picking events, averaging 15 participants per event.
d. VOLUNTEERS
Our volunteers are a mixture from all walks of life including;
Students from various primary, high schools and colleges including SEND groups Youth Offenders Team providing significant activities for young people
Referrals from various NHS sectors who trust us to improve their clients’ physical, mental and social well-
being.
Groups who have left mental health hospitals and are living in the community with support from NHS Self referrals from people who want to improve their physical, mental or social well-being Volunteers who wish to be busy and to give back to the community Prince’s Trust attendees Corporate days
Other voluntary and community organisations
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LETS GROW PRESTON
(A Charitable Incorporated Organisation)
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2024
Schooled at home
Individuals with special care needs who come with the carers Individuals referred by local job centre to get them into regular volunteering Work experience young people as individuals and groups Scouts, Guides and Trefoil groups Local gardening groups and clubs
We continue to work with young people under 18, accompanied by a responsible adult.
We work with young people over 17 on their own, provided we have a positive and communicative relationship with their parent or carer and that we trust that the parent or carer will be contactable if required.
Safeguarding underwrites our ethos for nurturing and working with our volunteers, our staff and the entire community.
What Karen Livesey, CEO of No Whispers child sexual exploitation training says about our volunteer handbookKaren Livesey Tue 7 Jan, 13:03
I was working on your Volunteer policy on Sunday and reading it gave me a warm almost “ready brek feeling” as I could see reflections of past training from No Whispers CIC as shown through the language, ethos and strong safeguarding messages throughout your Volunteer Handbook. It's clear and detailed and focused on empowering people within a safe culture and with a safeguarding priority. Great stuff. :-)
The fact is that we are happy to share our policies with any organisation who needs them.
Our volunteer database has increased by 200% for the second year running to over 300 volunteers.
Our volunteers are crucial to the continuation of Let’s Grow Preston. We are extremely grateful to our volunteers for their consistent efforts and enthusiasm.
We value our volunteers enormously; we are guided and inspired by their input.
We have created a volunteer handbook which we believe expresses our investment in the volunteers and will be creating a further handbook and development strategy for Volunteer Leaders who will take on more responsibility, enabling longer and more opening times, more opportunities for LGP to take part in activities which is currently difficulty to achieve with only our small team of employed staff.
Our volunteers typically report that they feel better, and better about themselves after a volunteering session with Let’s Grow Preston.
If you wish to join our team of volunteers, we would be delighted for you to do so, please contact annie@letsgrowpreston.org
Achievements and performance
a. REVIEW OF ACTIVITIES
How, What and When have we achieved these
We support a network of community gardens and gardeners across the PR postcodes and have assisted in improving or creating gardens and green spaces by providing advice, tools, volunteers and plants. Following the principles of Social Therapy in Horticulture, we work with volunteers to improve their physical, mental and social well-being. With the increase in cost of living impacting on fuel poverty and food poverty, the
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LETS GROW PRESTON
(A Charitable Incorporated Organisation)
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2024
detrimental effect on mental health, the demand for our services continues to increase.
Our volunteers have the experience of growing significant quantities of food at both the LGP sites and have continued to collect surplus harvest from the 600 allotmenteers of Preston.
Grange community Gardens has benefited from funding which has enabled us to create a propagation room, shaded polytunnel and improved herbaceous boarders, as well as renewing the timber in the raised beds. This means that we have significantly increased the methods of horticulture and facilities for delivering horticultural activities at Grange Community Gardens and hence provided our volunteers with experience of conducting horticultural work and activities. We have continued to grow as much food as possible on site and collecting surplus harvest from the 600 allotmenteers of Preston.
As a Charitable Incorporated Organisation, the Charity Commission provides direction on how we can generate a surplus and is particularly clear on trading and how and when we are able to trade and raise surplus for our charity.
Following the principles of Social Therapy in Horticulture, we work with volunteers to improve their physical, mental and social well-being. We recognise that the cost of living increased tremendously, including fuel poverty and food poverty, leading to the demand for our services to continuously increase.
We are open for volunteering sessions at least 50 weeks a year. There are regular tasks to be done each week and seasonal tasks such as pruning, harvesting and mulching. We value our volunteers and ensure that they have purposeful and productive activities to do every session.
The plants that we grow at our sites with volunteers and site users are used to:
a) Furnish our own sites, and pass on to be used by community gardens across the PR postcode, and by friends of open spaces and parks.
b) They are planted into buckets as growing vegetables which have been given to schools, libraries and members of the public at roadshows.
c) Plants and seedlings have been donated to the allotmenteers of Preston in exchange for their harvests.
d) The surplus plant stock is sold from our sites and at markets to raise funds for the organisation. This in itself also improves a volunteer’s or a site user’s sense of usefulness - which is incredibly important. e) Let’s Grow Preston receives donations of plants, bulbs and seeds which we grow to use or grow to sell to support our charitable activities.
f) We continue to develop and mutually benefit from relationships with local suppliers and nurseries such as Brighter Blooms, Newgate Nurseries, Holland House Farm, Bannister Hall Gardens and Peter H Smith.
In addition to above
We aim to have a new building erected to manage the increased demand upon our services with a community café which will generate a sustainable income to support the staff costs
We will develop more relationships with local businesses and high net worth supporters to generate more support in kind and more donations from business who take their corporate social responsibility towards the environment and peoples’ health seriously, as do we.
We will source funding to replace our raised beds and will source funding for an outdoor kitchen because we know that our volunteers and beneficiaries can grow food but they don’t necessarily know how to cook it, so we will collaborate with local organisations who teach food cookery to deliver workshops and opportunities to cook and eat together
Testimonials
Quote from Sarah Threlfall, Deputy Chief Executive of Preston City Council:2024 “LGP is amazing, it is changing lives in the city, they are creating huge opportunities for these neighbourhoods to thrive, for people to come out of their homes, to connect with nature and connect with other people within their
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LETS GROW PRESTON
(A Charitable Incorporated Organisation)
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2024
community. They are also supporting some really vulnerable individuals to become part of that wider network and to thrive themselves.
None of us can make the change we want to on our own.
The Preston model is really focused on anchor organisations and really critically anchor organisations like LGP and people like Annie who have got the vision and the energy to really drive change in their communities.”
Quote from Cllr Mathew Brown Leader of Preston City Council; 2024
“The fact that they’re doing stuff around sustainability is brilliant, but also to tackle unfairness in our communities which is quite embedded and has been for some time. Crucially, what they are doing for us is helping us tackle inequality, because a lot of the food that’s grown here is distributed through the community sector to make sure that people actually have access to affordable food. for us to build change, we have got to work with many community organisations like this I think it’s pretty brilliant what they are doing here.”
Quote from Taz Ali BEM, Preston Community Hub 2024
“Hussain, I think the relationship [that we have] with LGP is key to a lot of stakeholders, a lot of partners, we’re one of them.”
Bryan Jones, Dean of School – Health, Social Work and Sport, University of Central Lancashire 2024 “LGP is able to maintain and improve the mental health of their cohorts and that they provide a safe space.”
Giovanni Bonfiglio, Community Prevention Engagement Team, LSCFT (NHS Mental Health) 2024 Lancashire & South Cumbria NHS Foundation Trust –
“Just within 5 or ten minutes of being there, someone who is quite stressed and anxious, that has dissipated, and they feel relaxed.”
Financial review
a. GOING CONCERN
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
b. RESERVES POLICY
There is currently no reserves policy as such, however Let's Grow Preston are currently working on how this can be implemented in the coming months.
Structure, governance and management
a. CONSTITUTION
The company is registered as a charitable company limited by guarantee and was set up by a Trust deed on 24/10/2014 .
The company is constituted under a Trust deed dated 24/10/2014 and is a registered charity number 1159007.
b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
Page 6
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2024
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. A skills analysis is also considered for the election of trustees to ensure that the individual meets the CIO's needs. Re election is completed on a regular basis and recruitment is based on eliminated skills of the current board at the time.
c. ORGANISATIONAL STRUCTURE AND DECISION MAKING
There are currently four employees and one paid contractor of Let's Grow Preston CIO; A Project Development Manager, Communication and Logistics Officer, Horticultural Project Officer and a Volunteer Co-coordinator. The Chief Executive Officer has day to day management of the organisation and reports to the board on a regular basis. The trustees have quarterly meetings.
d. RISK MANAGEMENT
The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. Two of the major risks identified by the CIO are;
- Reputational Risk
As the organisation is in the community every day and uses volunteers, the organisation cannot control the threat or danger to the organisation name.
- Operational Risk
Due to the primary income of the organisation being from one main source which includes partnership working, there is a risk that there may be a break down in communication or the funding coming to an end.
Plans for future periods
a. FUTURE DEVELOPMENTS
We will continue to
Provide support to community groups and individuals who wish to grow their own food in community gardens and at home
Improve physical mental and social wellbeing by delivering volunteering sessions and outreach work. Work with local council and authorities to help communities to enhance, maintain and develop green open spaces in PR postcodes
Support the network of community gardens and friends of open spaces
Support the local allotmenteers by providing bulk buying discounts and seedlings and collecting their surplus Maintain develop and enhance our own sites
Engage volunteers and introduce them to the network of community gardens and friends of open spaces Enable, empower and educate volunteers and communities to be able to improve the local environment
Strategic Planning
There are several significant projects we are looking at over the next 5 to 10 years.
LGP have established relationships with accredited horticultural training organisations, we will therefore continue to recruit candidates and reinforce the accredited training provided in the community, building resilience and confidence in individuals. Using our connections with local colleges and University of Central Lancashire, we will ensure that potential candidates are supported for higher education and further education with local trainers. Why is this important? Because many of our volunteers and service users come to us at their lowest ebb, they are frequently off work on a long-term basis, the headspace that our work provides, and the reflective listening we provide enables a human to rethink their life circumstances. We can identify education pathways and we can empower and enable volunteers to learn new skills and change their careers/vocations.
Page 7
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2024
Our work in environmental education including climate and sustainability, food distribution, food waste reduction, and community building uniquely positions us to collaborate effectively with Preston's anchor and community organisations to support these strategic goals. Through collaborative funding applications, we will deliver a programme of outreach work that connect culture to horticulture to the communities using methods and messages of stealth sustainability.
We have outgrown our building at Ashton Walled Garden and will work with Preston City Council, our stakeholders and potential funders to create a new building within the grounds of the walled garden that meet the needs of all of the groups that currently use the building and is future proof, providing amply facilities for a community café, where our volunteers and service users can learn how to prepare and cook the food that we grow, and providing a training room and facilities for community organisations to use, as well as adequate facilities for staff breaks and private consultations.
TRUSTEES' RESPONSIBILITIES STATEMENT
The Trustees (who are also directors of Lets Grow Preston 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 (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they 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 charitable company for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Trustees, on 28th August, 2025 and signed on their behalf by:
Trustee
Page 8
LETS GROW PRESTON (A Charitable Incorporated Organisation)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LETS GROW PRESTON (the 'company')
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 October 2024.
This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the company (and 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, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying 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
I have completed my examination. I can 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
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the accounts do not accord with those records; or
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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)].
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.
Signed: Courtney Wright BA FCCA
26th August 2025 Dated:
Office 5, The Boulevard Centre, 45 Railway Road, Blackburn, Lancashire, BB1 1EZ
Page 9
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2024
| Unrestricted funds Note 2024 £ INCOME FROM: Donations and legacies 2 52,527 Other trading activities 15,449 TOTAL INCOME 67,976 EXPENDITURE ON: Charitable activities 41,701 TOTAL EXPENDITURE 41,701 NET INCOME / (EXPENDITURE) BEFORE INVESTMENT LOSSES 26,275 Net losses on assets (1,207) NET INCOME / (EXPENDITURE) BEFORE OTHER RECOGNISED GAINS AND LOSSES 25,068 NET MOVEMENT IN FUNDS 25,068 RECONCILIATION OF FUNDS: Total funds brought forward 13,106 TOTAL FUNDS CARRIED FORWARD 38,174 |
Restricted funds 2024 £ 48,108 1,527 49,635 117,853 117,853 (68,218) - (68,218) (68,218) 94,132 25,914 |
Total funds 2024 £ 100,635 16,976 117,611 159,554 159,554 (41,943) (1,207) (43,150) (43,150) 107,238 64,088 |
Total funds 2023 £ 198,381 12,662 |
|---|---|---|---|
| 211,043 | |||
| 183,576 | |||
| 183,576 | |||
| 27,467 - |
|||
| 27,467 27,467 79,771 |
|||
| 107,238 |
The notes on pages 13 to 22 form part of these financial statements.
SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2024
| Note GROSS INCOME IN THE REPORTING PERIOD Less: Total expenditure NET INCOME FOR THE FINANCIAL YEAR 9 |
Total funds 2024 £ 116,404 159,554 (43,150) |
Total funds 2023 £ 211,043 - |
|---|---|---|
| 27,467 |
The notes on pages 13 to 22 form part of these financial statements.
Page 10
LETS GROW PRESTON
(A Charitable Incorporated Organisation) REGISTERED NUMBER: 0000000
BALANCE SHEET AS AT 31 OCTOBER 2024
| Note FIXED ASSETS Tangible assets 6 CURRENT ASSETS Debtors 7 Cash at bank and in hand CREDITORS:amounts falling due within one year 8 NET CURRENT ASSETS NET ASSETS CHARITY FUNDS Restricted funds 9 Unrestricted funds 9 TOTAL FUNDS |
£ 3,440 50,688 54,128 (2,482) |
2024 £ 12,442 51,646 64,088 25,914 38,174 64,088 |
£ 1,608 122,476 124,084 (33,356) |
2023 £ 16,510 90,728 |
|---|---|---|---|---|
| 107,238 | ||||
| 94,132 13,106 |
||||
| 107,238 |
The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees on signed on their behalf, by:
and
The notes on pages 13 to 22 form part of these financial statements.
Page 11
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2024
| Note Cash flows from operating activities Net cash used in operating activities 11 Cash flows from investing activities: Purchase of tangible fixed assets Net cash used in investing activities Change in cash and cash equivalents in the year Cash and cash equivalents brought forward Cash and cash equivalents carried forward 12 The notes on pages 13 to 22 form part of these financial statements. |
2024 £ (71,788) - - (71,788) 122,476 50,688 |
2023 £ (16,137) (17,880) (17,880) (34,017) 156,493 122,476 |
|---|---|---|
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LETS GROW PRESTON
(A Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
1. ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Lets Grow Preston 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.
1.2 Reconciliation with previous Generally Accepted Accounting Practice
In preparing these accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required.
No restatements were required.
1.3 Company status
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
Page 13
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
1. ACCOUNTING POLICIES (continued)
1.4 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
Page 14
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
1. ACCOUNTING POLICIES (continued)
1.6 Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
1.7 Tangible fixed assets and depreciation
All assets costing more than £1,000 are capitalised.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
- Plant and machinery 20% Reducing Balance Motor vehicles - 20% Reducing Balance
1.8 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
1.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.10 Cash at Bank and in hand
Cash at bank and 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.
1.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
Page 15
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
1. ACCOUNTING POLICIES (continued)
1.12 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
2. INCOME FROM DONATIONS AND LEGACIES
| Unrestricted funds 2024 £ Donations 7,909 Grants 44,618 Total donations and legacies 52,527 Total 2023 198,381 |
Restricted funds 2024 £ 150 47,958 48,108 - |
Total funds 2024 £ 8,059 92,576 100,635 198,381 |
Total funds 2023 £ 25,895 172,486 |
|---|---|---|---|
| 198,381 | |||
Page 16
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
3. ANALYSIS OF EXPENDITURE
| Staff wages Telephone/ broadband Advertising/ promotion Printing/ stationery Insurance Subscriptions Materials/ equipment Computer costs Motor costs Accountancy costs Depreciation Legal and professional Refreshments Office equipment/ costs Training costs Bank Charges Repairs/ maintenance 4. NET INCOME/(EXPENDITURE) This is stated after charging: Depreciation of tangible fixed assets: - owned by the charity |
2024 £ 120,661 3,692 361 218 5,197 2,167 13,931 614 2,857 150 2,861 531 201 2,309 311 7 3,486 - - - 159,554 2024 £ 2,861 |
2023 £ 142,121 3,467 938 1,523 3,611 1,097 15,259 508 2,848 450 4,127 149 171 1,175 1,623 8 4,501 - - - 183,576 |
|---|---|---|
| 2023 £ 4,127 |
During the year, no Trustees received any remuneration (2023 - £NIL). During the year, no Trustees received any benefits in kind (2023 - £NIL). During the year, no Trustees received any reimbursement of expenses (2023 - £NIL).
Page 17
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
5. STAFF COSTS
Staff costs were as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 120,661 | 142,121 |
The average number of persons employed by the company during the year was as follows:
| 2024 | 2023 |
|---|---|
| No. | No. |
| 4 | 6 |
No employee received remuneration amounting to more than £60,000 in either year.
6. TANGIBLE FIXED ASSETS
| Cost At 1 November 2023 Disposals At 31 October 2024 Depreciation At 1 November 2023 Charge for the year On disposals At 31 October 2024 Net book value At 31 October 2024 At 31 October 2023 7. DEBTORS Prepayments and accrued income |
Plant and machinery £ 2,028 - 2,028 1,588 88 - 1,676 352 440 |
Motor vehicles £ 23,868 (5,988) 17,880 7,798 2,773 (4,781) 5,790 12,090 16,070 2024 £ 3,440 |
Total £ 25,896 (5,988) |
|---|---|---|---|
| 19,908 | |||
| 9,386 2,861 (4,781) |
|||
| 7,466 | |||
| 12,442 | |||
| 16,510 | |||
| 2023 £ 1,608 |
Page 18
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
8. CREDITORS: Amounts falling due within one year
| CREDITORS: Amounts falling due within one year | ||
|---|---|---|
| Other taxation and social security (see below) Other creditors Accruals and deferred income Other taxation and social security PAYE/NI control |
2024 £ 1,054 378 1,050 2,482 2024 £ 1,054 |
2023 £ 2,147 755 30,454 |
| 33,356 | ||
| 2023 £ 2,147 |
Page 19
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
9. STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
| Balance at 1 November 2023 £ Unrestricted funds Reserves 13,106 Restricted Funds 94,132 Total of funds 107,238 STATEMENT OF FUNDS - PRIOR YEAR General funds Reserves Restricted Funds |
Income Expenditure £ £ 67,976 (41,701) 49,635 (117,853) 117,611 (159,554) Balance at 1 November 2022 Income £ £ 9,840 22,577 69,931 188,466 |
Gains/ (Losses) £ (1,207) - (1,207) Expenditure £ (19,311) (164,265) |
Balance at 31 October 2024 £ 38,174 |
|---|---|---|---|
| 25,914 | |||
| 64,088 | |||
| Balance at 31 October 2023 £ 13,106 |
|||
| 94,132 |
SUMMARY OF FUNDS - CURRENT YEAR
| Balance at 1 November 2023 £ General funds 13,106 Restricted funds 94,132 107,238 |
Income Expenditure £ £ 67,976 (41,701) 49,635 (117,853) 117,611 (159,554) |
Gains/ (Losses) Balance at 31 October 2024 £ £ (1,207) 38,174 - 25,914 (1,207) 64,088 |
|---|---|---|
Page 20
(A Charitable Incorporated Organisation)
LETS GROW PRESTON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
9. STATEMENT OF FUNDS (continued) SUMMARY OF FUNDS - PRIOR YEAR
| Balance at 1 November 2022 £ General funds 9,840 Restricted funds 69,931 79,771 |
Income Expenditure £ £ 22,577 (19,311) 188,466 (164,265) 211,043 (183,576) |
Balance at 31 October 2023 £ 13,106 94,132 |
|---|---|---|
| 107,238 |
10. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR
| Unrestricted funds 2024 £ Tangible fixed assets 12,442 Current assets 28,214 Creditors due within one year (2,482) 38,174 ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Unrestricted funds 2023 £ Tangible fixed assets 2,206 Current assets 44,256 Creditors due within one year (33,356) 13,106 |
Restricted funds 2024 £ - 25,914 - 25,914 Restricted funds 2023 £ 14,304 79,828 - 94,132 |
Total funds 2024 £ 12,442 54,128 (2,482) 64,088 Total funds 2023 £ 16,510 124,084 (33,356) 107,238 |
|
|---|---|---|---|
Page 21
LETS GROW PRESTON
(A Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
11. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the year (as per Statement of Financial Activities) Adjustment for: Depreciation charges Loss on the sale of fixed assets Increase in debtors Decrease in creditors Net cash used in operating activities 12. ANALYSIS OF CASH AND CASH EQUIVALENTS Cash in hand Total |
2024 £ (43,150) 2,861 1,207 (1,832) (30,874) (71,788) 2024 £ 50,688 50,688 |
2023 £ 27,467 4,127 - (248) (47,483) (16,137) 2023 £ 122,476 122,476 |
|---|---|---|
13. RELATED PARTY TRANSACTIONS
There have been no related party transactions throughout the financial year.
14. POST BALANCE SHEET EVENTS
There have been no significant events affecting the company since the year-end.
15. CONTROLLING PARTY
Those trustees listed on page one of the accounts control the company.
Page 22