Company registration number.. D8293679 Ch8rity registration number.. 1169071 Lincs Inspire Limited (A company limit8d by guarantee} Annual Report and Financial Statements for the Year Ended 31 March 2024 Lincs Inspire Limited Contents Reference and Administrative Dètails Trustees, Fleport 2toS Strategic Report 7t011 Statement of Truslees, R8sponsibilities 12 Indep.endent Audttors, Report 13to15 Consolidated Statement of Financial Activities 16to17 Consolidated Balance Sheet 18 Balance Sheet 19 Consolidated Statement of Cash Flows 20 Notes to the Financial Statements 21to45 Lincs Inspire Llmited Reference and Administrative Detalls Chalrman M Towle Trustees A Bird l Keal M Hodson C Luml8y l Reeki8 Secretary R Marshall Senior Management I Leadership Tearn S Wells, CEO D Huddleston, Finance Director C Williams, General Manager R Topliss, Contracts and Perfomance Manager T Bratton, Head of HR and Compliance Charlty Reglstration Number 1169071 Company Registration Numbar 08293879 The charity is incorporated in England. Bradley Football Development Centre Bradley Road Grimsby North East Lincolnshire DN37 OAG Registered Office Audltor Forrester Boyd 26 South Sl. Mary's Gate Grimsby North East Lincolnshire DN31 1LW Bankers Barclays Bank plc 1 ChurGhill Place London E14 5HP Page 1 Lincs Inspire Limited Trustees. Report The following trustees report Govers th& financial year ending 31 March 2024 and is the 1 Ith company report following its commencement on 1 April 2013. The trustees are pleased to present their annual directors, report together with the con501idated financial statements of the charity and ils subsidiary for the year ending 31 March 2024, which is also prepared to meet the requirements for a diredors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Cornpanles Act 2008, the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statem6nt of Recommended Practice applicable to charities pr8paring their accounts in accordance with the Financial Reporting Standard applicable in th6 U K and Republic of Ireland IFRS 1021 (effective 1 January 20191. Lincs Inspir8 Limited is an independent, not for profit company, set up lo deliver a range of community SeNi￿S including sport, leisure, and cultural services, prtncipally provided in and around Lincolnshire, The following report concentrates on the financial year 2023-2024. The Company was incorporated on 14 Nov6mber 2012 and achieved registration as a charity with the Charity Commission on 7 September 2018, Objectlves and actlvltles Purpose of the Charlty Lincs Inspire is committed to helping local people achieve their aspirations, stay activ8, slay well, and enjoy lrfe lo the full. Our Alms & Objectlves: Be Customèr Focused in all we do- helping our community to be more activ&, heakhy and resilienl. Be Insplrlng through oreativity, lifelong learning, and cultural exploration. Be Better - more effective and agi18, enabling us to put our resources where they achieve the best community impact. By Dellverlng innovative services and products that increas8 participation and respond to customer need. By Developing our workforce to support the business, alongsid8 growing talent and offering opportunity. By Measuring and rnanaging risk and re80urces, with good govemanc8 that supports resilience and sustainability What Matters to Us. Putting our customers first and making a social difference through increasing positive community engagement. Achieving direct well-being impacts for all our users. Working with local partners, providing employment and training opportunities, 8nd being environmentally responsible. What We Do Lincs Inspire delivers a wid8 range of services, focusing on: Sports and active leisure setvices for all ages and abilities, helping everyone to stay active and be healthy, Commercial activities that help us to cross-fund community facilities and activities targeting improved health, mobility, and overall wellness. Grant funded opportunities that enable us to make a drfference within our communities. Uplifting, insplring and thought-provoking live entertainment, and cultural experiences, widening engagement and attracting new audiences. Friendly and accessible public library and archive services that support a love of literature and learning, alongsid& a wide range of community services. Page 2 Llncs Inspire Limited Trustees, Report Public benefit Th& trLJsle6s confirm that th6y have complied with the requirements of section 17 of Ihe Charities Act 2011 to have due regard lo the public benefit guidance published by the Charity Commission for England and Wales. Fundraising disclosures The charity does not use any extemal fundraisers. All fundraising undertaken during the year wss monilored by the Trustees. Structure, governance and management Nature of governing document Lincs Inspire Limited is a r8gistered Charity INo.1169071) which was incorporated on 14 November 2012. It is a company limited by guarantee and 1$ governed by its Memorandum and Articles of Association. Recruitment and appointment of trustees When recruiting new trustees, the company applie5 a process of application and inteNiew. Following which all appointments are subject to final proposal at the appropriate following board meeting, a vote is undertaken, and the appointment duly recordad. By virtue of its Articles of Association (its governing documeènt), all members of the charity are also trustees and directors. Th8 board of truste&s meet whenever required but no less often that once per quarter to review the charily's performance, governance and to SUPPOrt Strategic planning for future developments and the sustainabill(y of the charity, In addition, a sub-committee is also in place to consider specific areas of governance when required, this includes regular revi8ws of financial performance. At all board and sub-committee meetings declarations of interest are recorded where relevant and in the event of a conflict, the trustee would b8 r&quired to leave the meeting and take no part in any relal8d decision-making proces5. Th8 Articles of Association reflect th6 use of virtual meeting p18tforms, enabling discussion and decision making to be flexible. The board however endeavours to meet in person with all board meetings during 2023124 conducted in person. Induction and training of trustees New trustees also undertake a prooess of induction including familiarisation with the charity's aims and objectives, overview of policies and procedures, understanding of roles and responsibilities and an introduction to key services, facilities, and senior staff. Organisational structure Day lo day management of Lincs Inspire Limited is delegated lo the Chief Executive- Ms S. Wells. Finance and govemance 18 managed by the Finance Director, Mr D Huddleston. Company Secretary continues to be Mr D. Marshall. External Auditor is Forrester Boyd. Banklng Services ar@ provided by Barclays Bank Plc. Pag& 3 Llncs Inspire Limited Trustees, Report Governance Charity trustees." Trustee Name Off Ice (If any} Dates acted If not for whole year Whole year Whole year Whole year Joined July 2023 Alan Leslie Bird Mark Hodson Irene Keal Chartes Lumlèy Malcolm Reginald Towle Chair of Trustees from 17 July 2017 to present date Whole year Amy Quickfall Resigned September 2023 lan Reeki8 Joined April 2Q24 The Board of Trustees were delighted to w8lcome Charles Lumley and lan Reekie to the Board in July 2023 and April 2024 respectively. Charles brings a broad range of skills to the charity, including expertise in the hospitality sector and within the fields of performance and risk management. lan brings a wealth of exp@ri@nce to the charity, ranging from his background in theatre and entertainment m8nag6m6nt, serving as a Director of Leisure for a neighbouring unitary authority, more recently holding a Non-Executive Directorshlp in the NHS and currently as the Lead Governor at a Foundation Trust, At the Charitls Annual General Meeting in September 2023, Mr Malcolm Towle was reélected as Chair of the Board of Trustees. Fellow board members thanked Malcolm for his continued chairmanship of the charily and commitment to the ongoing development of its services and thos6 of the company's subsidiary too. Page 4 Lincs Inspire Limlted Trustees, Report Exlsting Governance: There are no truste88 holding title to property belonging lo the charity, There are no funds held as custodian trustees on behalf of others. All key Charity Commission guidance documents are formally report8d to the charity trustees who are also encouraged to visit the Charity Commission website and to raise issues internally within the charily via the Chief Executive or via the Company Secretary. In relation to the Charity Commission's specrfic guidance on public benefrt, the trustees understand the essential requirement that for a purpose to be charitable it must comply with the following two tests, namely.. (a) it must be beneficial, and any detriment or harm that results from the purpose must not outweigh the benefit ('the benefit aspect,),. and (b) it must benefit the public in general, or a sufficient section of the public I'lhe public aspect,). The trustees also reccgnise that a charitable purpose may only benefit individuals or other legal entities to an exlenl thal is no more than incidental to the furtherance of the charitable purpose. The Charity Commission's guidance has been seen by all trustees. The trustees have created a Structure which separates all acttvities that comply with the above tests from those that do not. Those thal do not, unless the incidental benefit exemption applies, are wholly reserved lo the trading subsidiary. The Charily also submilted its annual Confirmation Statements in October and November 2023, and this was required to include a statement relating to People with Significant Control (Regulations 2016). The purpose of which 1$ to list individuals with 'significant control. over oompanies, including charities and limited liability partnerships, to increase the transparency of corporate structures and lo identify those able to exercise, or actually exercising, Significant control. It was concluded that the PSC Register for Lincs Inspire could not identify any individual with significant control. I n terms of Lincs Inspire Venues & Enterprises {subsidiary company), il was also confirmed that the entry for the PSC Register recorded the company knows, or has reasonable cause lo believe, that there is no registrable person in relation to the company. Trading Subsidiary: 2023124 was the seventh year of trading for Lincs Inspire Venues & Enterprises Limited ILIVEI, a not-for-profit private limited company sel up as a trading subsidiary, specrfically to operate the Grtmsby Auditorium and, possible other commercial ventures where Irading is not ancillary to a core charitable activity. Lincs Inspire Venues & Enterprises Limited continues to operate through its own board of directors, includin9 representation from the main board of trustees for Lincs Inspire Limited, and meets on a quarterly basis to review the strategic operallon of the ¢ompany and its cngoing support to the charity. The board Of dir8Ctors sadly accepted the resignation of Jenny Follan, a long standing director of LIVE, who will be missed, Fellow directors thanked Jenny for her support and invaluable insights, as noted at the company's AGM in Sepl&mber 2023. All directors were also thanked for their continued support and commitment. Irene Keal, an exlsting Trustee of Lincs Inspire Limited, was appointed as a Director of Lincs Inspire Venues & Enterprises Limited al the AGM meeting of September 2023. Irene's business background and experience gained with the cultural sector will bring 8 welcome addition to the board. Page 5 Lincs Inspire Limited Trustees, Report Employment of disabl&d p8rsons Lincs Inspire Limited and ils Irading subsidiary Lincs Inspire Venues & Enterprises Limited will employ disabled persons when they appear to be suitable for a particular vacancy and every effort is made to ensure that they are given full and fair consideration when such vacancies arise. During 6mployment Lincs Inspire Limited and ils trading subsidiary Lincs Inspire Venues & Enterprises Limited seeks to work with employees, considering their personal ¢i￿uMstanceS lo ensure 8ppropriat8 training, development and advancement opportuniti8s are available lo enable them to reach their full potential. Employe8 involvement Lincs Inspire Limited and ils trading subsidiary Lincs Inspire Venues & Enterprises Limited encourages the involvemenl of ils employees through regular management and leam meetings, and the dissemination of infomation of particular concern to employees and for receiving their views on important matters of policy. Disclosure of information to auditor Each trust86 has laken steps that th8y ought lo have taken as a Irusl88 in ord8r to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of Ihat infomation. The trustees confimi that there is no relevant information that they know of and of which they know th@ auditor is unaware, Th8 8nMual report was approved by the trustees of the charity on 11 December 2024 and signed on its behalf by.. M Towle Chairman Pag8 6 Lincs Inspire Limited Strategic Report for the Year Ended 31 March 2024 Achievetnents and perfomiance 2D23124 has been a busy year with increased participation across the majority of s&rvice8 and venues, culminating in our total customerluser physical engagement increasing by over 125k compared to 2022123, and equating to over 1.25m engagements. This demonstrates the local reach our services have. It has also b8en a positive year for bolh regional and national recognition of our assisted exerclse programmes, specifically fDcussing on Stroke recovery and wider mental health benefits gained from physical exercise. One of the last business seclors to reopen following the Covid pandemic includecl theatres, and it has been good lo see Grimsby Auditorium having a positive year, with an increase in both shows end attendances compared lo 2022123. 2023124 Performance Impact at a glance Leisure Centre psrticipation 8chieved c 800/0 of its annual target which equ8ted to 73k more attendances and an increase in subscription members to just under 11 k by year end. Over 113k swim lessons were delivered, which is a strong performance, however below the we target s61, a shortage of swim teachers has aff@ct&d perfomiance. Our Active Forever and Active Seniors programmes continue to go from strength lo strength, benefiting from grant ￿ndIng provided to assist our most vulnerable residents. Bradley Football Development Centre welcomed over 155k of adult and junior participations. This equal&s to a 12 /0 increase and exceeds the targets set. Grimsby Auditorium delivered 157 performances with over 84k attendances, including a diverse proyramme of showslevents. Libraries hav8 also had a positive year, with an increase of 1 Ok visits, resultlng in over 15k more books being taken out. Over 285k visits lo the Whisby Natural World Centre throughoul the year, which is a very positive increase of c11 /0. Whilst CO￿orate events have been slow to return, the venue h8s seen an increase in social and ce16bratory events and hir8S. Performanc8 highlights: Vvellness Hub - this facility is located within the Grimsby Health & Wellbeing Centre and provides a range of specifically designed assisted ex8rcise equipment, enabling participation whatever the level of mobility, strength, or confidence. During 2023124 an independent study was undertaken of th8 social value generated by the Wellness Hub. This work was undertaken by 4Global in partnership with Max Associates and showcased a significant return on investment, in brief.. . A total of £187k of social value generated between April 2022 and March 2023 from 1,085 participants. Physical and mental health indicators contributed £99k of social value, 52.90/0 of the total. Per person the social value average was £172, placing our centre in the top 10010 when compared lo $￿tar wide benchmarks lon a scale of 1-1QO, our Social Value Index Score is 91). Referrals by health professionals during 2023-24 resulted in a year-&nd lotal of 1,548, nearly double the previous years, figures, Accessibility has been boosted by grant funded places supporting residents from low-income households. Page 7 Lincs Inspire Limited Strategic Report for the Year Ended 31 March 2024 Llbrarles & Public Archives Libraries performance throughout 2023124 has grown with visitor numbers increasing by over 9,7DO. In addition, attendance at events and weekly activities has also shown good improvement with over 18,5QlQ attendances, E-Library issues also continue to show a steady growth, although nearly 170,000 books were still physically borrowed which is a l 0 % increase since last year. Libraries have also extended accessibility to health and wellbeing seNices through the delivery of healthy weight management courses and a new NHS partnership which sees 'Talking Therapies, being available within Library facilities. The Public Archive s8rvlce continues lo be a valued service by residenls exploring local history resources. Bi-monthly exhibitions have been well received alongside a growing Facebook following, subjects have typically covered school life, historic health seNices and town centre retail changes. Sports Development - engagement with schools continues to deliver 'Bikeability' training, supporting safe cycling from an early age. Just over 3,000 participants have successfully passed levels 1 and 2 this y&ar. In addition school holiday activities remain very popular across a number of venues, including those places funded by grant funding to support children from low income households, and paid for place5 too. A combined attendance of over 5,700 is a good increase on the previous year. Grimsby Audltorlum the venue has had a positive year with increased performances and attendances. Continued very positive customer feedback shows that the venue attrads audiences from outsid& North East Lincolnshire as well as locally. Another very successful pantomirne run helped to end the year, alongside a variety of professional and community shows including dance, live bands, local amat8ur dramatics and school P6rformances too. Whisby Nalural World Centre Hospltality continues to be challenging, with ever increasing costs, however, overall visilcir patronage has grown and a steady return of social event hires has helped to increase performanc8. We are also very appreciative of the continued support we receive from North Kesteven District Council, enabling us to make changes to support a more sustainable service. Markeling & Communications. We have continued to strengthen our mark&ting campaigns across a wide range of platforms. including radio and TV advertising, 8nd using targeted social media channels. This has greatly assisted the promotion of our services helping lo increase particlpation. In addition, the production of case studies and customer testimonials have attracted media attention, enabling us to demonstrate to both the community and our partners the benefits of being physically and mentally active. Staffing: Employee numbers have remained relatively slabl& throughout the year at c, 500 (combined full, part-time and casual staffj. R6cruitment has however continued to be challenging and typical wrfchin our sectors of work. Engagement with the Institute of Swimming is helping to increase interest in training to become a swim teacher. Plus the recent introduction of an in-house training seNice for Fitness Instructors aims to provide similar support, alongside our well established in.house training service for Life-guards. Development of our workforce conlinues to be a key priority and the charity provides a wide range of opportunlties from sport and leisure apprenticeships through to attainment of nationally recognised qualifications. In addition, a range of vocational training and awareness raising opportuntties are provided both internally and externally SUPPDrting areas such as customer services, supervisory skills, and health condition awareness Page 8 Lincs Inspire Limited Strategic Report for the Year Ended 31 March 2024 A mandatory training programme also supports new recruits, alongside r8fresherlCPD training for existing staff, for example First Aid at Work, ISOH (managing health and safety), Manual Handling, Wot*ing al Heights etc. We also continue to support a number of work experience placements, including working with young people with di5abililies in partnership with health sector colleagues. The Charity submitted ils annual Gsnder Pay Gap report on lime, highlighting a balanced workforce where pay is based on the role and its requirements, with all job descriptions evaluated and aligned to an appropriate pay grade. Risk Management Health and Safety: The charity continues to actively promote good health and safety practice. This includes investment in staff Ir8ining, both formal accredited training (such as IOSH Managing Saf&ly training) through to general he8llh and safety awareness raising, Health and safety audits have continued throughout 2023124 with a continued focus on ensuring our facilities remain safe and accessible for staff and customers. Board meetings include a standing agenda item, providing a summary of quarterly health and safely perfomance. In addition, nominated health and safety representatives from each service area meet regularly. Within our h&alth and safety remit we also encompass safeguarding, whereby the company Health and Safety Officer is also the designated Safeguarding Officer, supporting proactive awareness rai8ing across all venues and continued ¢ompliance with safeguarding policies and procedures. Strategic Risk= The charity's senior management team meets monthly. This provide5 8 forum in which strategic and operational risks may be raised for discussion and or escalation, All senior managers have responsibility for raising risk related concerns either immediately with the chief executive or as part of the monthly cycle of senior management team meetings. The board of trustees continues to review th8 company's Stralsgic Risk Register on a regular basis. In addition, an Assurance Map is produced and signed off by the board. Managing risk is an ongoing process, and is the responsibility of all staff, volunteers, and trustees. The overall risk appetite that the board of trustees consider appropriate in relation to business decisions continues to be an 'Open' appetite. This means that th@ board is prepared to consider all delivery options and will select those with the highest probability of productiv8 outcomes. However, an exception to this would arise where an activity has health and safety or safeguarding risks, whereby the appetite would reduce lo'Averse', Flnanclal Revlew 2023124 Review.. Our main sources of income., leisure memberships and theatre ticket sale5 ended the year broadly in lin8 Wlth budgel and target setting, demonstrating a stable year. Carefully managed investment in new equipment supported an improved customer exp6rience and helps lo aid future retention. The charity 18 progressing well, and successfully securing a number of grant funds that help enhance customer services. However we remain mindful of ongoing financial pressures arising from a continued increase in cost of supply and the cost-of-living, which impacts both our staff and our customers. Pricing Policy.. Annual price increases are applied, as 8greed by th6 Board of Truslees, and laking into consideration current inflationary rates, Cost of supply and competitor analysis. In certain circumstances in-y8ar increases have been necessary, especially in relation to increasing costs associated with food and beverage sales. Principal Funding Sources.. The principal funding sources during 2Q23124 for the Charty are from admission and usage income, supported by contract income from North East Lincolnshire Council and North Kesteven District Council. In addition, several restricted funds arise from grants that have been s8cured to support specific objectives. Page 9 Lincs Inspire Limited Strategic Report for the Year Ended 31 March 2024 Approach to Investmenl.. The board of trustees review all keylstrategic investment proposal8, considering overall cost against lifetime benefit. Investment in equipment and operating systems Is considered through the development of business cases and presentation of options. Procurement is in 8ccordance with the charity's procurement procedures and a commitment lo achieve best value. The charity continues to benefit from the use of procurement frameworks and where practical collaborative purchasing, for exarnple, working in partnership with olher regional library services for the coll8¢tiv8 purchasing of library books. The charity does not hold any external investments or plan to undertake any investments outsid8 the cora deliv&ry of it5 seNice5. Included within our environmental commitments is an aim, where possible, lo utilise local suppliers, to re-use and recycle, and to carefully manage energy use, Flnanclal Reserves The board of truste6s have consider&d their approach to holding res8rves and to date the level c8sh within the organisation has not been sufficient to enable the creation of any long-term reserves. However, as a charity short to medium term reserves are in place, some of which are linked to restricted funds 8nd compliance with grant funding conditions. Unrestricted funds are also held to support known future investment requirements, for example the replacement of vehicles or gym equipment. Where practical to do so, the charity does have the option to hold funds within accounts attracting higher interest rates, based on a given notice to withdraw period. The charity also holds bondlguarantor arrangements provided by North East Lincolnshire Council in support of a public sector pensions risk arising because of transferred seNices. A reserves policy is in place and reviewed from time to time to ensure effectivenes5. The charitable group's year started with unrestricted funds of £1,962,307 surplus (2023= £2,232,022 deficit). Unrestricted incoming resources were £9,391,711 (2023., £9,642,604}, UnrestriGled resources expended amounted to £8,907,946 {2023'. £9,529,693), Actuarial re-measuremenl loss on th8 defined benefit scheme was a deficit of £134,000 (2023= £4,082,000 surplus) a transfer to restricted funds of £nil 12023.. £582) lefl a surplus of £2,312,072 {2023.. £1,962,307). This includes a pension asset of £nil. IM the instance of the pension being in a liability PDSltion, this is guaranteed by North East Lincolnshire Council. Restricted reserves stand al £352,688 (£2023, £468,464) of which £106,22712023: £111,525) relates to amounts already expended on fixed assets. Total reserves stsnd at £2,684,760. Free reserves, whiGh excludes the pension su￿lUs, restricted funds and amounts which can only be realised by disposing of fixed assets sland at £1,829,451 surplus. The trading subsidiary, Lincs Inspire Venue and Enterprises Limited, had net fL5nds at the year end of £108,050, made up of restricled funds of £269,722 surplus and unrestricted funds of £377,772 deficit. This is after incurring an in year profit before tax of £54.963. The charity itself had a net position of £2,556,710 made up of r@stricted f unds of £82,966 and unr&stricted funds of £2,473,744. This is after incurring an in y6ar surplus of £180.057. Page 10 Lincs Inspire Limited Strategic Report for the Year Ended 31 March 2024 Plans for future pgriods To ensure our continued business viability we aim to increase participation, introduce new Se￿iceS th21 support our aims, and to rationalise those services that no longer meet the needs of the business cr are no longer affordable. Most importantly, we will continue to develop our workforce lo meet these demanLIs. Summary of current development activity.. .Increasing secondary spend - through addilional hospitalty provision within Grimsby Auditorium. .Aclive Forever programme- with external funding support, ext6nd this programme into all l&isur6 c&ntres and grow transitional pathways for participants completing the referral programme. .Health partner engagement - increase the number of community health services delivered within sport, leisure, and library s&ttings. .Increased community sportlexercise - introducing newlrevised sessions, to support venue suslainabilily and day lim& use (BFDC). .Ext8ndad schoDI sports offer- providing wider more holistic packages incorporating wellbeing and learning, .Introduction of low-cost adult sensory facilities expanding the current Ghildren's provision within Cleethorpes Library. .R&view of current IT training provision - subj8Ct to upgraded technology supported by NELC (within Libraries). .Delivery against our Digital Roadmap supporting greater efficiencies and improved customer experiences through better use of technology. We also continue lo work with our partners to explore investment and modernisation opporlunities and where relevant, work together to progress external funding applications to aid capital investment. Going foNard there is also a commitment to work logether to unlock opportunities for greater energy efficiency and reduced carbon footprints, aspecially within those services thal consume high energy levels, such as swimming pools. Summary 2023124 has been a busy year with increased participation across the majority of services and venues. 11 has also been a positive year for both regional and national r6cognition of our 8SSlSted @xercise programm8s, specifically focussing on our work wlth Stroke recovery and wider mental health benefits gained from physical exercise. We have also been successf ul with grant funding applications throughout the year, including Libraries funding to support schools, engagement {LibrariesOn}, a further National Lottery grant to continue our 'Active Foreverf programme and f inally the Police Crime Comrrissioner's funding to assist with positive activities for young people at KGV Stadium. All of which support our business development plans and overall charitable aims. Against a conlinuing backdrop of financial pressures experienced by our communities, staff, and the organisalion, we will continue to ensure our seNices are deliv&red as effectively and efficiontly as possible, providing great value for money, Our business planning looks to Ihe future and new development opportunities, at the same time protecting the core business to ensure we continue lo be able to deltver seNices that have a positive community impact. We remain committed to supporting health and wellbeing and encouraging our community to stay active and enjoy life. We are also proud of our wot*force and will continue to invest in their training and development, alongside creating opportunities for career progression. We want both our staff and customers to have the best possible experience when they engage with Lincs Inspire. Th& strategic report was approved by th6 trust&es of the charity on 11 December 2024 and signed on its beh8lf by.. M Towle Chairman Page11 Lincs Inspire Limited statement of Trustees, Responsibilitles The trustees (who are also the directors of Lincs I nspire Limited for the purposes of company law) are responsibl& for preparing the trust8es' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Slandard applicable in the UK and Republic of Ireland" The report and accounts have been prepared in aocordance with the provisions in the Companies Act 2006 relating tc small companies. Company law r&quires the trustees lo 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 parent charitable company and the group and of the incoming resources and application of resources, including ils income and expenditure, of the charitable group for thal period, In preparing these financial staternents, the Irustees are required lo.. select suitable accounting policies and apply them consistently., observe the methods and principles in the Charilies SORP., make judgements and eslimates that are reasonable and prudent., state whether applicable accounting standards, comprising FRS 102 have been followed, subject lo any material departures disclosed and explained in th8 financial 8tatemenls' and prepare the financial statements on the going concern basis unless it is inappropriate to presume that th8 parent charitable company will continue in business. The trustees are responsible for k6eping proper accounting records that can disclose wilh reasonable accuracy at any time the financial position of the parent charitable company and the group and enable them to ensure that the rinancial statements comply with the Companies Act 2008. They are also responsible for safeguarding the assets of the parent charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities, The trustees are responsible for the Maintenan￿ and integrity of the corporate and financial information included on the charitable company's w8bsite. Legislation goveming the preparation and dissemination of financial statem&nts may differ from legislation in other jurisdictions. Approved by the trustees of the charity on 11 December 2024 and signed on ils behalf by M Towle Chairman Page 12 Lincs Inspire Limited Independent Auditor's Report to the Members of Lincs Inspire Limited Opinion We have audited the financial stalements of Lincs Inspire Limited (the '¢haritable parent company.) and its subsidiaries (the 'group') for Ihe year ended 31 March 2024, which comprise the Consolidated Slatemenl of Financi81 Aclivilies, Consolidated Bal8nce Sheet, Balance Sheet, Consolidated Stalement of Cash Flows and Noles to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (Uniled Kingdom Generally Accepted Accounting Praclice). I n our opinion the financial stalements.. give a true and fair view of the slate of the group's and parent charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its Income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2008. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS IUKI) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements seGlion of our report. We are independent of the group in accordance with the ethical requiremènls that are relevant lo our audit of the financial statéments in the UK, including the FRC'S Ethical Standard, 2nd we have fulfilled our other ethical iesponsibilrties in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions r8lating to going concgm In auditing Ihe financial stalernent8, we have concluded that th8 trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least Iwelve months from when Ihe original financial stalements wer8 authorised for issue. Our responsibililies and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Othor information The trustees are responsible for the other informalion. The other informalion comprises the infomialion included in the annual report, other than the financial statements and our audttorfs report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, W8 do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing $0, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otheNise appears lo be materially misstated. If we identify such material inconsisten¢i&s or apparenl material misstatements, we are required to determin& whether there is a material mlsstatement in the financial statements or a material misslatemenl of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required lo report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the cours@ of the audit. the information given in the Stralegic Report and Trustees, Report for the financial year for which the financial stalemenls are prepared is consistent with the financial statements., and Page 13 Lincs Inspire Limited Independent Audltor's Report to the Members of Lincs Inspire Llmlted the Strategic Report and Trustees, Report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strateglc Report and the Trustees. Report. We hav8 nothing to report in respect of the following matters where the Companies Act 2006 requires us lo report to you if, in our opinion.. adequate accounting records have not been kept by the parent charitable Company, or returns adequate for cur audit have not been received from branches not visited by us., or the parent charitable company financial slatements are not in agreement with the accounting records and returns., or certain disclosures of trustees remuner2tion specified by law are not made., or we hav6 not received all the information and explanations we require for our audit. Responslbllltles of trustees As explained more fully in the Statement of Trustees, Responsibilities (s8t out on page 121, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enabl8 tha preparation of financial slatements that are free from material misstatement, wheth6r du8 to fraud or 8rror. In preparing the financial statements. the trustees ar@ responsible for assessing the charity's ability to conlinue as a going concern, disc105ing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to C6as8 operations, or have no realistic alt8rnatlV8 but to do so. Audltor responslbllities for the audit of the flnanclal statements Our objedives are to obtain reasonable assurance about whether the financial statements as a whole are free from materiel misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level Of assurance, but is not a guarante6 that an audit conducted in accordance with ISAS (UK) will ahmays detect a material misstatement when it exist¥. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregat&, they could reasonably be expected to influence the economic decisions of users laken on th& basis of these financial statements. The extent ID which our procedures are capable of d$tecting irregularities, including fraud is detailed below.. Discussions with management, including consideration of known or suspected instances of non-compliance held. Challenging assumptions and judgements made wilhin significant acwunting estimates and judgements such as depreciation, Identification of key laws and regulations central to the charities operations and review of compliance with such laws including a review of Charities Commission website. Testing cf journal entries and potential override of systems. Because of the inherent limitations of an audit, there is a risk that we will not delecl all irregularities, including those leadlng to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely lo become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery collusion, omission or misrepresentation. Page 14 Lincs Inspire Limited Independent Auditor's Report to the Members of Lincs Inspire Limited Use of our report This report is made solely to the charitable parent company's Iruslees, as a body, in accordanc8 with Chapter 3 of Part 16 of the Companies Act 2D06. Our audit work has been undertaken so that we might sta19 to the group's trustees those matters we are required to state to them in an auditorf5 report and for no other purpose, To the fullest extent pemitted by law, we do not accept or assume responsibility to anyone other than the charitable parent company and its trustees as a body, for our audil work, for this report, or for thè opinions we have formed. Carrie Anne Jensen ACA {Senior Statutory Auditor) For and on behalf of Forrester Boyd, Statutory Auditor 26 South St. Mary's Gale Grimsby North East Lincolnshire DN31 1LW 11 December 2024 Pag6 15 Llncs Inspire Limited Consolidated Statement of Financial Activities for the Year Ended 31 March 2024 (Including Consolidated Income and Expenditure Account and Statement of Total Recognlsed Gains and Losses) Unrestrlcted funds Restricted funds Total 2024 Total 2023 Note Incomè and Endowments from: Donations and legacies Charitable activities other trading activities Investment income Other income 2,369,645 4,198,104 2,377,446 91,898 354,618 218,412 6,984 3,071,961 4.026,898 2,358,657 45,360 402,090 4,205,088 2,377,446 91,898 417,210 62,592 Total income 9,391,711 287,988 9,679,699 9,904,96S Expenditure on. Raising funds Charitable activitie8 (1,970,794) {6,937,152} {79,9271 (323,837 (2,050,721 } (1 ,953,692} 7,260,989 7,881,345} Total expenditure Net incomel(expenditure) Other recognised gains and losses Actuarfal gainsl {losses} on defined benefit pension schemes Net movement in funds {8,907,946} (403,7641 (9,311,710) 9,835,038 483,765 (115,7761 367,989 89,928 25 134,OOD) 134,000 4,082,000 349,765 {115,7761 233,g89 4,151,928 Reconciliation of funds Total funds brought forward 1,962,307 488.464 2,430,771 1,721,157 2,430,771 Total funds carried forward 27 2,312,072 352,688 2,664,760 Comparative figures can be seen on the following page. The notes on pages 21 to 45 form an integral part of these financial statements. Page 16 Lincs Inspire Limited Consolidated Statement of Financial Actlvltles for the Year Ended 31 March 2024 (Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2023 Note Income and Endowments from: Donations and legacies Charitable activities other trading activities Investment income Other income 2,870,126 4,024,125 2,358,657 45,360 344,336 201,835 2,773 3,071,961 4,026,898 2,358,657 45,380 402,090 57,754 Totsl income g,642,604 2S2,362 9,904,966 Expenditure on: Raising funds Charitable activities (1,887,681 } 7,642,012 166,011) (1,953,692) 239,3341 7,881,346) Total expenditure Net incomel{expendilure} Transfers between funds (9,529,693} (305,3451 (9,835,038) 112,911 (582) 142,983) 582 69,928 Taxation other recognlsed galns and losses Actuarial gainsl Il¢sses) on defined benefit pension schemes 4,082 QOO 4,082,OQlU Net movement in funds 4,194,329 (42,4011 4,151.928 Reconclllatlon of funds Total funds brought forward (2,232,022) 510,865 (1,721,157) Total funds carried fonmard 27 1,962 307 488,464 2,430,771 The notes on pages 21 to 45 form an integral part Of these financial statements. Page 17 Lincs Inspire Limited (Registration number: 08293679) Consolidated Balance Sheet as at 31 March 2024 2024 2023 Note Flxed assets Intangible assets Tangible assets 16 17 1,944 472,289 588,848 588,848 474,233 Current assets Stocks Debtors Cash al bank and in h£nd 19 20 21 91,439 239,221 2,899,081 75,021 267,827 2,368,738 3,229,741 11,128,795) 2,711,586 Creditors: Amounts falling due within one year Nat current asseis 22 1821,045 2,100,946 1,890,541 Total assgts les5 current liabilities 2,689,794 2,364,774 {24,003) Provisions 24 (25,034) Net assets excluding pension liabilily Penslon scheme Ilablllty Net assets Includlng penslon Ilablllty 2,664,760 2,340,771 90,000 25 2,664,760 2,430,771 Funds of the group.. Restricted income funds Restricted funds 27 352,688 468,464 Unrestricted income funds Unr6Stricted funds 2,312,072 1,962,307 Total funds 27 2,664 760 2 430,771 The financial statements on pages 18 to 45 were approved by tho trustees, and authorised for issue on 11 December 2024 and signed on their behalf by.. M Towle Chairman The notes on pag6s 21 to 45 form an integral part of these financial statements. Page 18 Lincs Inspire Limited (R6gistratlon number: 08293679> Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets I ntangible assets Tangible asséts Investments le 17 18 1,944 323,412 438,601 438,802 325,357 Current assets Stocks Debtors Cash at bank and in hand 19 20 21 77,523 324,567 2,326,125 2,728,215 610,107 65,066 275,246 2,118,910 2,459,222 497,928 Credltors: Amounts falllng (Jue wlthln one year 22 Net current asset8 2,118,108 1,961,298 Net assets excludlng penslon Ilablllty Penslon scheme Ilablllty 2,556,710 2,286,853 25 90,000 Net assets Includlng penslon Ilablllty 2,556,710 2,376,653 Funds of the charlty: Restricted income funds Restricted funds 27 82,966 231,135 Unrestricted income funds Unrestricted funds 2,473,744 2,145,518 Total funds 27 2,556,710 2,376,653 No statement of financial activities is presented for the charity as permilled by section 408 of the Companies Act 2006. Th& charity madg a surplus after lax for the financial year of £180,057 (2023 £4,234,988 of which £4,082,000 relates to the decrease in pension scheme d&ficit}. These financial stalements have been prepared in accordance with the special provisions relating lo companies subject to the small oompanies regime within Part 15 of the Companies Act 2006. The financial statements on pages 16 to 45 were approved by the trustees, and authorised for issue on 11 December 2024 and signed on their behalf by.. M Towle Chairman The notes on pages 21 to 45 fomi an integral part of these financial statements. Page 19 Lincs Inspire Limited Consolidated Statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Note Cash flows from operating activities Net cash income 233,989 4,151,928 Adj ustments to cash flows from non-cash Items Depreciation Amortisalion Investment incom8 Loss on disposal of intangibl8 fixed assets Loss on disposal of tangible fixed assets FRS102 aotuarial liability adjustment 196,179 1,944 (91,898> 225,474 7,672 145,3801 1,250 24,778 3,752,000 850 90,000 431,064 613,742 Working capltal adjustments (Increas6)Idecrease in stocks Decreasellincrease) in debtors Increasel(decrease) in creditors Incr6as61(d6crease} in provisions Incr&as61ldecr8ase} in deferred income 19 20 22 24 (16,418> 28,606 64,559 1,031 243,191 3,536 112,255) 156,834) {1,653) 86,846 Net cash flows from operating activities Cash flows from investing activities Interest receivable and similar income Purchase of tangible flxed assets Nel cash flows from inv8Sting activilies Cash flows from financing activltles Repayment of loans and borrowings 752,033 480,090 91,888 1313,588} 45,380 {175,113 17 1221,6901 {129,753) 22 40,625) Net increase In cash and cash equivalents 530,343 309,712 2,059,026 2,368,738 Cash and cash equivalents al 1 April Cash and cash equivalents at 31 March 2,368,738 2,899,081 The notes on pages 2110 45 form an integral part of these financial slatemenls. Page 20 Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2024 1 Charlty ststus The charty is limited by guarant66, incorporated in England, and consequently does not have share capital. Each of the trustees is liabl8 lo conlribule an arnount not exceeding £1 D towards the assets of the ch8rity in the event of liquidation. The address of ils registered office is.. radley Football Development Centie Bradley Road Grimsby North East Lincolnshire DN37 OAG These financial statements were auth0ri5ed for issue by the trustees on 11 December 2024, 2 Accountlng pollcies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years pres&nled, unlèss othenNise slated. Statement of ¢ompllance The financial statements have been prepar6d in accordance with Accounting and Reporting by Charities= statement of Recornmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (published October 2019} (Charities SORP IFRS 102}), the Financial Reporting Standard applicable in th6 UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 200e and Charities Act 2011. Basis of preparation Lincs I nspire Limited meets the definition of a public benefit entty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaclion value unless Otherwise stated in the relevant accounting policy nolgs. The finanGi21 statements are presented in sterling and rounded lo th8 nearest pound. Basls of consolldatlon The consolidaled financial statements consolidate the financial statements of the charity and its subsidiary undertakings drawn up to 31 March 2024. A subsidiary is an entity Gontrolled by the charity. Control is achieved where the charity has the power to govern the financial and operating policies of an entity so as to obtain benefits from its a¢livities. Inter-company transactions, balances and unrealised gains on transactions bebNeen the charity and its subsidiaries, which are related parties, are eliminated in full. Intra-group losses are also eliminated but may indicate an impaimient that requires recognition in the consolidated financial statements. Accounting policies of subsidiaries have been changed where necessary to ensure consistency wlth the policies adopted by the group. Summary of dlsclosure exemptions The charity has taken advantage of FRS102 reduced framework and chosen not to disclose a parent cash flow stalement, Page 21 Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Going concern The trustees consider that there are no material uncertainties about the group's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the group. Judgaments The LGPS valuation returned an asset position in the current year. The actuary provided an asset ceiling paper which restricted the asset to £nil. The Trustees believe this is appropriate as the assel is not expected to be recovered, either tFirough payment or redu¢8d contributions. Income and endowments All income is recognised once the charity has entitlement to the income, It is probable that the income will be received and the amounl of Ihe income receivable can be measured reliably. Donations and legacies Donations are recognised when the charity has been notified in writing of both the amount and settlement date. I n the event that a donation is subject lo conditions thal require a level of p8rformanGe by the charity before the charity is 8ntit16d to th& funds, the income is deferred and not recognised until either those conditions are fully met, or the f ulfilmenl of those conditions is wholly within the control of the charity and il is probable that th&se conditions will be fulfilled in the reporting period. Grants receivable Grants are recognis6d when the group has an entitlement to the funds 8nd any conditions linked to the grants have been m&t. Wh&re p8rformance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balan¢e sheet as deferred income to be re16asod. Expenditure All expenditure is recognised once there is a legal or constructive obligation lo that exp6nditure, il is probable setllem8nl is requir&d and the amount can be measured reliably. All costs are allocated lo the applicabl& exp8nditure heading that aggregate similar costs lo that category. Where osts cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, With central staff costs allocated on the basis of time spent. Ralsing funds These are costs incurred in attracting volunlsry Income, the management of investments and those incurred in trading activities that raise funds. Charitable activities Charitable expenditure comprises thos8 costs incurred by the charity in the delivery of its activities and services for Èts beneficiaries. It includes both Costs that can be allocated directly to such activities and those costs af an indirect nature necessary to support them. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, staff numbers. Governance costs These include costs attributable lo the chaiitls compliance with constitutional and statutory requirements, including audit, s1rategic management and trustee's meetings and reimbursed expenses. Page 22 Lincs Inspire Limited Notes to the Financlal Statements for the Year Ended 31 March 2024 Irrecoverable VAT Irrecoverable VAT is charged against the category of resources expended for which it was incurred. Taxatlon The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 an therefore il rreets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeab16 Gains Act 1992, to the extenl that such income or gains are applied exclusively to charitable purposes, Intanglble assots Intangible assets are stated in Ihe Balance Sheet al cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives. Tanglble flxed assets Individual fixed kss8ts costing £1,000.00 or more are initially recorded al cost. Amortlsatlon Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows,. Asset class Website costs Amortisation method and rate 3 years straight line Depreclatlon and amortisation Depreciation is provided on tangible fixed assets 50 as to write off the cost or valualion, less any estimated residua1 value, over their expected useful economic life as follows: Asset class Gym equipment ICT Equipment Plant and equipment Local history reference books Hardback books Paperback books Children's books Recordings. radio and visual Depreciation method and rate 20% 20%- 33/0 Stock Stock is valued al the lower of cost and estimated selling price lass costs to complete and s811, after due regard fcr obsolete and slow moving stocks. Cost is delemined using the first-in, first-out IFIFOI method. Trade debtors Trade debtors are amounts due from customers for merchandise sold or service8 performed in the ordinary course of business. Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not b& able to collect all amounts due according to Ihe original terms of the receivables. Page 23 Lincs Inspire Limited Notes to the Financlal Statements for the Year Ended 31 March 2024 Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily Convertible to a known amount of cash end are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations lo pay for goods or services Ihat have been acquired in the ordinary course of business from suppliers and are recognised at Iransaction price. Provisions Provi5ion5 are recognised when the charity has an obligation at the reporting date as a result of a past event, it is probably that the charily will be required to settle that obligation and a reliable estimate can be made of the amount of the obligalion. Fund structure Unrestricted income funds are general f unds that are available for use at the truslees, discretion in furtherance of the objectives of the group. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. P6nsions and other post retlrement obllgatlons Retirement b&nefits to employees of the charitable company are provided by the East Riding Pension Fund (ERPF). This is a defined benefit scheme, The ERPF is a funded scheme and the assets are held s8parately from those of the charitabl8 company in separate trustee administered funds. Pension scheme assets are measured al fair value and liabilities are measLired on an actuartal basis using the projected unlt credit method and discounted at a rate equivalent lo the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at leasl trienn ially and are updated at each balance sheet date. The amounts charged lo the operating surplus are the current service costs and the ¢osts of scheme inlroductions, benefit changes, settlements and curtailments. They are included as part of staff costs incurred. Net interest on the n&t defined benefit liabilityl asset is also recognised in the Statem6nt of Financial Activitie5 and comprises the int&rest cost on Ihe defined benefit obligation and the interesl inccme on the scheme assets, olculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme ass6ls and the actual return on the scheme assets is recognised in other recognised gains and losses. Actuarial gains and losses are recognised immediately in other recognised gains and losses. With effect from 1 April 2015 the scheme was frozen and no longer available lo new employees. From 1 July 2015 employees were able to join the defined contribution scheme with the People's pension. Contributions are expensed as they become payable. Financlal instruments Classificatlon The charity only has financial assets and financial liabilities that qualify as basic financial instruments. Recognition and measurement Basic financial instruments are initially recognised at transaction value and subsequently measured at their fair value. Fixed asset investments are measured at fair value, with gains and losses being recognised in the Ststemenl af Financial Activities. Page 24 Lincs Inspire Limited Notes to the Financlal Statements for the Year Ended 31 March 2024 Investments Investments in 8ubsidiaries measured at cost less impairment. Crltlcal accountlng estimates and areas of judgement Estimal8s and judgements are continually evaluated and are based on historical experience and other factors, including expectations of luture events that are believed to be reasonable under the circumslances. The Charity makes estimates and assumptions concerning Ihe future. The resutting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a mat@rial adjustment lo the carrying amounts of assets and liabilities Wlthin the n8Xt financial year are discussed below. The present value of the Local Government Pension S¢heme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variely of assumptions. The assumptions used in determining the net cost (income) for pensions include Ihe discount rate. Any changes in thes8 assumptions, which are disclosed in note 25, will impact the carrying amount of the pension liability. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2022 has been used by the actuary in valuing the pensions liability at 31 March 2024. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability. 3 Income from donations and legacles Unrestricted funds General Restrictod funds Total 2024 Donations and16gaGies', Donations from companies, trusts and similar proceeds Grants, including capital granls., Government grants Grants from other sources Contract income 2,043 2,D43 212,332 6,080 212,332 6,080 2,367,602 2,588,057 2,387,602 2,369,645 218,412 Unrestrlcted fund5 General Restricted fiinds Total 2023 Donations and leg8cies; Donations from companies, trusts and similar proceeds Grants, including capital grants., Government grants Grants from other sources Contrsct income 2,018 2,018 139,260 62,575 139,260 122,575 2,808,108 3,071,961 60,000 2,808,108 2,870,128 201,835 Included wilhin government grants are amounts amounting lo £1 $8,352 (2023.. £129,260) relating to local authority grants for running school holiday activities, £43,980 {2023= £nil) relating to an Arts Council Grant, £nil (2023: £10,000} relating to local authority grants for Tier 2 weight management programme. Page 25 Lincs Inspire Limlted Notes to the Financial Statements for the Year Ended 31 March 2024 4 Income from charltable activltles Unrestrlcted funds General Restrlcted funds Total 2024 Sports, fitness and leisure Arts and attractions Libraries and archives 4,153,620 4,958 39,526 2,948 4,036 4,156,568 8,994 39,526 4,198,104 6,984 4,205,088 Unrestricted funds General Restricted funds Total 2023 Sports, fitness and leisure Arts and attractions Libraries and archives 3,898,865 89,632 35,628 392 2,381 3,899,257 92,013 35,628 4,026,898 4,024,125 2,773 5 Income from other trading activities Unrestricted funds General Total 2024 Trading income., Sales of goods and services Retail sales incom8 Ticket sales Food and beverage Commissions on sale of merchandise 5,825 79,739 1,230,695 1,008.978 52,409 2,377,446 5,625 79,739 1,23Q,895 1,008,978 52,409 2,377,446 Unrestricted funds General Total 2023 Events Income., other events income Retail sales income Ticket sales Food and beverage Commissions on sale of merchandise 519 118,202 1,127,154 1,014,103 98,879 519 118,202 1,127,154 1,014,103 98.679 2,358,657 2,358,657 Page 28 Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2024 8 Inv8stment income Unrestricted funds General Total 2024 Interest receivable and similar income- Interest rec&ivable on bank deposits 91,898 91,898 91,898 91,898 Unrestrlcted funds General Total 2023 Interesl receivable and similar income., Inter8sI r&ceivable on bank deposits 45,360 45,360 45,360 45,360 7 Other Income Unrestricted funds General Restrlcted funds Total 2024 Incom& from trading subsidiary Hire of facilities Sundry income 33,007 39,596 282, Ci15 82,592 95,599 39,596 282,015 354,618 62 592 417,210 Unrestricted funds General Restricted funds Total 2023 Income from trading subsidiary Hir6 of facilities Sundry income 48,168 32,537 2e3,631 344,336 57,754 105,922 32,537 263,631 402,090 57,754 Page 27 Lincs Inspire Limited Notes to the FinanGial Statements for the Year Ended 31 March 2024 8 Exponditure on raising funds a} Costs of trading activities Unrestrictad funds General Restricted funds Total 2024 Costs of goods sold other subsidiary costs Deprecialion, amortisation and other simiI2r costs Staff Costs 1,383,709 152,201 19,803 415,081 1,383,709 203,754 45,408 417,850 2,050,721 51,553 25,605 2,769 1,970,794 79,927 Unrestricted funds General Restrlctad funds Total 2023 Costs of goods sold Other subsidiary costs Depreciation, amortisation and other similar costs Staff Costs 1,343,151 117,968 32,688 393,874 1,343,151 148,313 84,215 398,013 30,345 31,527 4,139 1,887,681 66,011 1,953,692 9 Expendlture on charitable activities A¢tlvlly undertaken directly Granl funding of activily 2024 Sports, fitness and leisure Arts and attractions Llbr8ries and archives 4,222,495 705,068 1,396,272 6,323,835 Activity undertaken directly 686,366 65.997 184,791 937,154 Activity support costs 4,908,861 771,065 1,581,D63 7,260,989 2023 Sports, fitness and leisure Arts and attractions Libraries and archives 3,792,325 1,499,297 1,274,042 858,235 225,807 231,640 4,650,560 1,725,104 1,505,682 6,565,664 1,315,682 7,881,346 Page 28 Llncs Insplre Limited Notès to the Flnanclal Statements for the Year Ended 31 Mar¢h 2024 10 AnAtysl& of govornan¢• and Support 60StS Support CO8t$ kllo¢atod to ohorltoblo a¢tlvJtlo$ other 61IPPCrt costs Covernanco eosts Flnan¢e ¢06ts Informatl¢n toshnology st#ff Admlnlstratson Prom1$•8 osts LoÈts costs Total 2024 ¥$18 of allocatlon Sport$. filne5$ and le18ure Arts and attrgotions Llbrarf85 and arttblves 32.417 3.117 8,728 44,282 14,507 1,395 3,906 11,B33 1.138 3,186 16,157 491,208 47,232 132,248 7,290 701 1,963 7,206 693 121,903 11,722 32,821 686,364 65,998 184,792 19,808 670.688 9,954 9,839 166,446 other 9upport ¢OSt6 937,154 Ggv¢rnan¢o ¢o&ts Financo CC8ts Informatitrn technology tsff Admlnlstratlon Pr8mlBe8 ¢09ts ¢08ts Total 2023 Basits of o110¢a￿& Sports, fitness and leisure Arts and atlradions LibrBri8S Bnd arryhives 32,129 8,453 8,672 15,536 4,088 4,193 9,327 2,454 2,517 578,894 152,311 156,245 6.885 1,812 1,858 7,261 1.910 1.960 208,203 54,779 56,19s 858,235 225.807 231,64D 1 315882 49.254 23,817 14,298 887,450 319.177 Basls ot allotation Referonco moth￿ of allt)Gation Staff nurnbers Page 29 Lincs Inspire Limited Notes to the Financial Staternents for the Year Ended 31 March 2024 Governance costs Unrestrlcted funds General Total 2024 Audit fees Audit of the financial slatements Other fe&s paid to auditors Legal fees 28,159 2,355 13,748 28,159 2,355 13,748 44,262 44,262 Unrestricled funds General Total 2023 Audit f8es Audit of the financial statements other fees paid to auditors Legal fees 24,880 9,975 14,399 49,254 24,880 9,975 14,399 49,254 11 Net Incomingloutgoing resources Nel incoming resources for the year includ8'. 2024 2023 Operating leases - other assets Audit fees other non-audit services Loss on disposal of intangible fixed assets Loss on disposal of tangible fix8d ass6ts Depreoiation of fixed assets AmortlS8tion of goodwill 10,510 28,159 2,355 11,471 24,880 9,975 1,250 24,778 225,474 7,672 850 196,179 1,944 12 Staff costs The aggregate payroll costs were as follows., 2024 2023 Staff costs during the year were: Wage5 and salaries Social security costs Pension Costs 5,262,847 363,259 344,606 5,97Q,712 5,274,820 419,229 527,765 6,221,814 Page 30 Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2024 The monthly average number of persons (including senior management team) employ8d by the group during the year expressed as a head count was as follows.. 2024 No 2023 No Sport, Fitness & Leisure Arts and Attractions Libraries Auditorium Central management, maintenance and marketing 315 31 47 62 30 312 72 45 74 27 485 530 Th8 numberof employees whosa emoluments fell within the following bands was.. 2024 No 2023 No £80,D01- £70,000 £80,OQ1- £90,000 £90,001 £100,000 The total employee benefits, contrect and service costs of the key manag6menl personnel of the group were £390,830 {2023 - £354,845). 13 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the group during the year. No trustees have received any reimbursed exp8nses or any other benefits from the Charity during the year. 14 Auditors, remuneration 2024 2023 Audit of the financial stetements 28,159 24,880 Other fees to auditors All other non-audit services 2.355 9,975 £5,000 (2022,, £4,84Q} of the above amounl was remuneration for the audit of the trading subsidiary 15 Taxatlon The parent company is a registered charity and its activities are exempt from taxation. The trading subsidiary is subject to tax, and corporation tax of £nil is p8yabl8 for the year ended 31 March 2024. Page 31 Lincs Inspire Llmited Notes to the Financial Statements for the Year Ended 31 March 2024 16 Intangible flxed assets Group Websile development Total Cost At 1 April 2023 At 31 March 2024 17,078 17,078 17,078 17,078 Amortisatlon At 1 April 2023 Charge for th6 year At 31 March 2024 15,124 1,944 15,134 1,944 17,078 17,078 Net book value Al 31 March 2024 Al 31 March 2023 Charfty Webslte development Total Cost At 1 April 2023 17,078 17,078 At 31 March 2024 17,078 Amortisation At 1 April 2023 Charge for the year At 31 March 2024 15,134 15,134 1,944 17,078 17,078 Net book value Al 31 March 2024 Al 31 March 2023 1,944 1,944 Page 32 Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2024 17 Tangible flxed assets Group Motor vehicles Plant and machinery Library books Total Cost At 1 April 2023 Additions Disposals 45,477 1,042,015 220,286 1,735,524 2,823,016 93,302 313,588 40,813 40,813) At 31 March 2024 45,477 1,282,301 1,788,013 3,095,791 Depreciation At 1 April 2023 Charge for the year Eliminated on disposals At 31 March 2024 23,643 5,898 788,528 92,232 1,558,556 2,350,727 98,251 196,179 39,963 39,963) 1,616,844 2,506,943 29,339 860,760 Net book value At 31 March 2024 16,138 401,541 171,169 588,848 At 31 March 2023 21,834 273,487 176,968 472,289 Charity Motor vehicles Plant and achinery Library books Total Cost At 1 April 2Q23 Additions Disposals 45,477 631,326 173,454 1,735,524 2,412,327 93,302 26S,756 40,813 (4D,813 1,788,013 2,638.270 Al 31 March 2024 45,477 8D4,780 Depreclation At 1 April 2023 Charge for the year Elirninated on disposals At 31 March 2Q24 23,643 5,696 506,716 46,770 1,558,556 2,088,915 98,251 150,717 39.963 39,963 29,339 553,486 1.616,844 2,199,669 Net book valu6 At 31 March 2024 16,138 251,294 171,169 438,601 At 31 March 2023 21,834 124,610 176,968 323,412 Page 33 Lincs Inspire Limited Notes to the Financlal Statements for the Year Ended 31 March 2024 18 Fixed asset Investments Group Details of undertakings Details of the investments in which the group holds 200/0 cr more of the nominal value of any class of share capital are as follows.. Proportlon of voting rlghts and shares held Country of incorporatlon Undertaklng Holding Principal actlvlty Subsidiary undertakings Lincs Inspire Venues & Enterprises (No. 104099471 Provision of venue hire and facilities for performing arts United Kingdom Ordinary 1 OOD/o Subsidiaries Th6 turnover of Lincs Inspire Venues & Enterprises Limited was £1 ,816,384 whilst expenditur6 tolalled £1,812,181. The profil of Lincs Inspire Venues & Enterprises Limfced was therefore £53,932 and the eggregate amount of capital and reserves at th6 end of the period was £108,051. Charlty 2024 2023 Shares in group undertakings and participating interests Shares In group undertakings and partlcipating interests Subsidiary undertaklngs Total Cost At 1 April 2023 At 31 March 2024 Net book value At 31 March 2024 At 31 March 2D23 Page 34 Llncs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2024 19 Stock Group Charity 2024 2023 2024 2023 stocks 91,439 75,021 77,523 65,086 20 Debtors Group Charlty 2024 2023 2024 2023 Trade debtors Du8 from group undertakings Prepayments Accrued income other d@btors 77,022 90,662 53,815 128,768 51,756 89,826 402 87,378 14,518 99,853 72,909 588 63,484 98,313 402 102,136 74,441 588 239,221 257,827 324,567 275,248 21 Cash and cash equlvalents Group Charlty 2024 2023 2024 2023 Cash at bank 2,899,081 2,368,738 2,326,125 2,118,910 22 Creditors: amounts falling due within one year Group Charity 2024 2023 2024 2023 Trade creditors Other taxation and social security Other credilors Pension SGheme creditor Accruals Deferred income 130,729 174,979 801 36,250 338,957 447,079 181,222 186,106 1,889 38,277 209,863 203,888 69,147 174,980 801 38,250 310,727 18,202 141,043 186,106 1,889 38,277 114,102 16,509 497,926 1,128,795 821,045 61D,107 Deferred income 2024 2023 Group Def8rred income at 1 April 2023 Resources deferred in the period Amounts released from previous periods Deferred incomé at year end 203,888 447,079 203,888 270,534 203,888 270,534) 447,079 203,888 Page 35 Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2024 2024 2023 Charity Deferred income al 1 April 2023 Fiesources deferred In the period Amounts released from previous periods Deferred income al year end 16,509 18,202 16,509} 17,500 16,509 17,500 18,202 16,509 Eieferred incom8 largely relates to ticket sales received in advance. 23 Obllgations und&r lease5 and hlra purchase contracts Operating lease commltments Total future minimum lease payments undar non-can¢ellabl6 op8raling lease5 are as follows: Group Charity 2024 2023 2024 2023 other Wlthin one year Between one and five years 8,664 11,933 10,510 2,73S 13,248 8,168 11,892 20,060 10,510 2,736 2D,597 13,246 24 Provisions Group Deferred tax rela185 to diff8rences between accumulaled depreciation and c2pital allowances. 25 Pension and other schemes Defined contribution penslon schemo The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge for the year represents contributions payable by the group lo the scheme and amounted to £196,849 (2023 - £194,862), Defined beneflt pension schemes This scheme is a defined benefit scheme that is administered locally by East Riding Pension Fund, with the assets held in separate trustee-administered funds. The Charitable company and its employees pay contributions into fund as noted below. The agreed Gontribulion rates for future years are 21.2D/o for employers and be￿een 5.5 % and 9.9010 for employees. Contributions are calculated at a level intended to balance the pension liabilities with investment assets. The last relevant review by the Fund's actuary was at 31 March 2022. The actuary projected the results forward from this valuation to 31 March 2024 using approximate methods, and allowing for changes in financial assumptions. Page 36 Lincs Inspire Limited Notes to the Financial Staternents for the Year Ended 31 March 2024 Reconcillation of scheme assets and liabilities to assets and liabilities recognlsed The amounts recognised in the statement of financial position are as follows.. 2024 2023 Fair value of scheme assets Present value of defined ben8fit obligation Defin8d benefit pension scheme surplus 9,653,OOQ 19,e53,000 9,590,000 9,50CI,000 90,OQQ Defined beneflt obllgation Changes in the defin&d b8nefit obligation are ss follows.. 2024 Present value at start cf y6ar Current service cost Past service cost Inter8st cost AGluarial gains and losses Employee contributions Benefits P8id Pr8S8nt valu8 at end of year 9,500,000 232,009 80,000 455,000 (446,000) 62,000 230,0001 9,653,000 Fair value of scheme assets Changes in the fair value Jf schem8 assets are as follows: 2024 Fair value at start of year Interest income Return on plan assets, excluding amounts included in interest incomel(exp8nse) Employer contributions Contributions by scheme participants Benefits paid Asset ceiling restriction Fair value at end of year 9,590,OOD 557,00 439,000 254,000 62,000 {230,0001 1,019,000) 9,653,000 Analysis of assets The major categories of scheme assets are as follows: 2024 2023 Cash and cash equivalents Equily instruments Corporate bonds Property 127,560 9,567,000 2,040,960 1,020,48Q 12,756,000 231,68D 8,340,480 1,969,280 1,042,560 11,584,ODO Page 37 Lincs Inspire Limlted Notes to the Financial Ststements for the Year Ended 31 March 2024 Return on scheme assets 2024 2023 Return on scheme assets 998,000 84,000 The pension scheme has not invest8d in any of th8 group's own financial instruments or in properties or other assets used by the group. Prlnelpal actuarial as5umptlons The principal actuarial assumptions al the statement of financial position date are as follows,. 2024 2023 Discount rate Future salary increases Future pension increases Post retirement mortallty assumptions 4.85 2.75 2.75 4,75 2,95 2,95 2024 Years 21.00 24.00 21.00 25.00 2023 Years 21,00 24.00 22.00 25.00 Current UK pensioners at retirement age - male Current UK pensioners at r8tirement age - female Future UK pensioners at retirement age - male Future UK pensioners al retirement age - female 26 Contingent Ilabllltles Group A review is ongoing in respect of the historic tr&atment Of National Insurance deductions and paymenls. The remedial work und&rtaken so far has established that a net liability will exist, though this cannot be reliably estimated at this stage. Charity A review is ongoing in resped of the historic treatment of National Insurance deductions and payments, The remedial work undertaken so far has established Ihal a net liability will exist, though this cannot be feliably 8Stimaled at Ihis stage. Page 38 Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2024 27 Funds Group Other r6cognlsed Balance at 31 gainsl{losses) March 2024 Balance at 1 April 2023 Incomlng resources Resources expended Unrestrlctad funds General General fund 1,962,307 9,391,711 (8,g07,9461 (134,OOD) 2,312,072 Restrlcted funds Digital Soci8ty Heritage Lottery Fund, On Our Street Projedlstreets & Their Stories Libraries Connected Lincs Inspire Wellness Hub Capital investment by Sporl England and NELC The National LotEery Community Grant-'Activ Forever, Project NELC - Holiday Adivity Fund NELC Tier 2 Weighl Management Prograrnme Clinically Extremely Vulnerable Arts Council England, The Albert room Active Humber- Functional Zone Arts Council England Libraryon Police and Crime Commissioner- Community Safely Restoration Levy Fund Theatres Trust- Theatre Reopening Fund Total restrlcted funds 880 880 (1,5321 2,132 3,580 {1,788) (1,137) 260 S95 38,242 111,656) 26,586 50,116 2,948 (48,886) 4,378 34,414 168,352 (174,714) 28,052 16,630 (16,6281 77,350 177,350) 7,623 24,D17 112,241) 19,399 10,000 10,000 24,000 {30,000) 18,000) 2,50Q 62,591 (741) (27,883) 1,759 265,438 230,730 1,879 940) 939 468,464 287,988 {403,7641 352,688 Total funds 2,430,771 9,311,710 134,000 2,664,760 Page 39 Lincs Inspire Limited Notes to the Financlal Statements for the Year Ended 31 March 2024 Balance at 1 April 2022 Other Balanc6 at recognlsed 31 March Transfers gainsl{losses} 2023 Incoming resources Resources expended Unreslrlcted funds General General fund (2,232,022) 9,642,604 (9.529,693) {582) 4,082,QOO 1,962,307 Restricted funds Digital Society Heritage Lottery Fund, On Our Street Projectlstreets & Their Stori88 Libraries Connected Lincs Inspire Wellness Hub Capital investment by Sport England and NELC Th& National Lottery Community Grant - 'Active Forever, Project NELC - Holiday Activity Fund NELC Tier 2 Weight Management Programme Clinically Extremely Vulnerab16 Arts Council England, Th8 Albert room Active Humber- Functional Zone Restoration Levy Fund Arts Council England, reading pictures, seeing Stories Theatres Trust - Theatre Reopening Fund NKDC Riverlight Festival Junction Arts - Our Place The Mighty Creatives Total restricted funds 880 880 10,793 2,643 (12,325> (1,511) 11,532) 2,132 1,000 49,898 111,6561 38,242 75,533 23,992 149,4091 50,118 19,164 129,260 (114,0101 34,414 12,630 10,000 (8,000) 2,000 16,830 111,250 (31,900) (2,0001 77,350 27,355 {19,732) 7,623 10,000 57,755 10,000 230,730 221,153 148,178} 2,300 (2,314) 14 2,819 1,802 (940} (1,2681 1,879 (534) (702> <3,400> 702 400 3,000 510,885 262,382 305,345 582 488,464 Total funds {1,721,157 9,904,96S 9,835,038 4,082,000 2,430,771 Page 40 Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Charity Other recognised Balance at 31 gainsl{los$esl March 2024 Balance at 1 April 2023 Incomlng re50ur¢es R6sources exp6nded Unrestricted funds General General fund 2,145,518 8,493,802 (8,031,576} {134,0001 2,473,744 Restricted funds Digital Society Heritage Lottery Fund streets and their stories fund Libraries Connected Lincs Inspire Welln6SS Hub Capital investment by Sport England and NELC The National Lottery Community Grant - 'Active Forever, Project NELC - Holiday Activity Fund NELC - Tier 2 Weight Management Programme Clinic8lly Extrem@ly Vulnerable Arts Council England, The Albert room Activ@ Hurnb8r- Functional Zone AC Libraryon PCC - Community Safety Total restrlcted funds 880 880 {1,532} 2,132 3,580 {1,788) (1,1371 260 995 38,242 111,656) 26,58 50,116 2,948 {48,S861 4,378 29,694 118,623 (123,8101 24,707 16,830 (16,628) 77,350 (77,350) 7,623 24,017 (12,241) 19,399 10,000 10,000 (6,000) 1,759 24,000 2,500 (30,000) <741) 231,135 175,668 323.837) 82,968 Total funds 2,376,653 8,669,470 (8,355,413 {134,000 2,556,710 Page 41 Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Balance at 1 April 2022 Olher Balance at recognis8d 31 March Transfers gainslllosses} 2023 Incoming Resources resource5 expended Unrestrlcted funds General General fund {2,145,228} 8,831,814 (8,622,486} (582) 4,082,000 2,145,518 Restrlctod funds Digital Sociely Heritage Lottery Fund streets and their stories fund Libraries Connected Lincs Inspire Wellness Hub Capital investment by Sport England and NELC The National Lottery Community Grant- 'Active Forever, Project NELC - Holiday Activity Fund NELC - Tier 2 Weight Management Programm8 Clinically Extremely Vuln8rable Arts Council England, The Albert room Active Humber- Functional Zone Arts Council England, reading pictures, seeing stories NKDC Riverlight Festival Junction Arts Our Place The Mighly Creatives Total restricled funds 880 880 10,793 2,643 (12,3251 (1,5111 11,532) 2,132 1,OQO 49,898 111,8561 38,242 75,533 23,992 149,4091 50,116 19,164 107,646 197,116) 29,694 12,630 10,000 (8,000) 2,000 16,630 111,250 (31,900) (2,0001 77,350 27,356 (19,733) 7,623 10,000 1Q,000 2,300 1,802 12,314} 11,268} 14 <534} {702) 13,40Q) {239,334} 702 400 3,000 286,893 182,994 582 231,135 Total funds 1,858,335 9,Q14,808 8,861,820) 4,082,000 2,376,653 Page 42 Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2024 The Specific purposes for which the funds ar8 to be applied ar8 as follows.. Resloration Levy funds arising from a £1 ticket charge applied al Grimsby Auditorium with funds reinvested lo improve customer comfort and enjoyment. Libraries Connected- programme of complimentary events In statutory libraries. Heritage Lottery Funding (On Our Street Projecuslreets & Their Stories) community based local hi5torylr6minisc&nce workshops and creative activities. National Lollery Community Fund - 'Active Forever, supported capital and revenue investment lo develop a Creative Hub to support community engagement post Covid 19. Lincs Inspire Wellness Hub includes capital grant funding contributions from Sport Eng18nd and North East Lincolnshire Council, enabling the development of a new assisted exercise facility. Theatres Trust- Theatre Reopening Fund - a contribution to automatic door entry at the Grimsby Auditorium. Tier 2 Weight Management Programm8- Public Health Funded prograrnmes through NELC to support staff training and r@source material, Clinically Extremely Vulnerable Fund lo support those with specific medical condition5 who would be particularly vulnerable if they contracted COVID-19. Arts Council (Albert Room) - Supporting people al all stages of their lives to develop and increas& th6ir participation in a range of cultural activities such as creative writing, drama, sewing, spoken word events etc. Active Humber {Funclional Zone) To support activily for those on low inGomes, with disabilily & long-lerrn health conditions. Digital Society Steering Group A fund to buy equipment to assist with the Library Digital Outreach project., improving ICT Skills within the local Community. Arts Council England, Libraryon Projecl to enable statutory duty public libraries to reach, connect with and help their audiences in new and bèller ways. Police and Crlme Commissioner, Community Safely Grant - Funding for KGV Skate park. Active Lincolnshire Wonder Walks - Funding to arrange & support 2 walks within our communily. Holiday Activity Fund - Funding for activities and meals during the school holidays for low income families within North East Lincolnshire. NEL Reshape Grant- Capital support from Gov&rnment fund administered by NELC to assist with business restarts following COVID lockdown periods. Page 43 Lincs Inspire Limited Notes to the Financlal Statements for the Year Ended 31 March 2024 28 Analysis of net assets b6tween funds Group Unrestrlcted funds General Total funds at 31 March 2024 Restricted funds Tangible fixed assets Curr&nt assets Current liabilities Provisions 482,621 2,983,280 (1,128,795) 25,034 106,227 246,461 588,848 3,229,741 {1,128,795) (25,034} Total net assets 2,312,072 352,688 2,664,760 Unrestricted funds General Total funds at 31 March 2023 Restrlcted funds Intangible f ixed ass8ts Tangible fixed assets Current assets Current liabiliti85 Provisions Pension scheme liability 1,944 360,764 2,354,647 {821,0451 124,0031 90,000 1,944 472,289 2,711,588 1821,045} {24,003) 90,000 111,525 356,939 Total nel assets 1,962,307 468,464 2,430,771 Charity Unrèstricted funds General Total funds at 31 March 2024 Restricted funds Tangibl& fixed assets Fixed asset investments Current assets Current liabilities 407,480 31,121 438,601 2,676,370 (610,107) 2,473,744 51,845 2,728,215 610,107 Total net assets 82,966 2,556,710 Unrestrlcted funds Total funds at 31 March 2023 Restrlcted funds General Intangible fixed assets Tangibl8 fixed assets Fixed assel investments Current 85sets Current liabilities Pension scheme liability Total net assets 1,944 278,425 1,944 323,412 44,987 2,273,074 (497, 928) 90.000 186,148 2,459,222 {497,9261 90,000 2.145,518 231,135 2,376,653 Pag& 44 Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2024 29 Related party transactions Group Charity During the year the charity made the following related party transactions.. Lincs Inspire Venues & Enterprlses Limited (1000/0 owned subsidiary of Lincs I nspire Limtied> Recharges made from the subsidiary lo Ihe parent totalled £643,204 (2023.. £4S3,465). Recharges made from the parent to the subsidiary totalled £207,517 (2023.. £125,500). At the balance sheet dat6 the amount due from Lincs Inspire Venues & Enterprises Limited was £128,768 {2023 - £63,945). Page 45