Company registration number.. 08293679 Chariiy registration number.. 1169071 Lincs Inspire Limited (A company limited by guarantee) Annual Report and Financial Statements for the Year End8d 31 March 2025
Lincs Inspire Llmlted Contents Reference and Administrative Details Trustees, Report 2to6 strategic Report 7t011 statement of Truslees, Responsibilities 12 Independent Auditors, Report 13to15 Consolidated Statement cf Financial Activities 16to17 Consolidated Balance Sheet 18 Balance Sheet 19 Consolidated Statement of Cash Flows 20 Notes to the Financial Statements 21to45
Llncs Inspire Llmlted Reference and Administrative Del'ails Chairman M Towle Trustees A Bird C Lumley l Keal l Reekie M Hodson Secretary R Marshall Senior Management I Leadership Team S Wells, CEO D Huddleston, Finance Director C Williams, General Manager R Topliss, Contracts and Performance Manager T Bratton, HR 3ncl Compliance Director Charity Registration Number 1189071 Company Reglstratlon Number 08293679 The charity is incorporated In England. Bradley Football Development Centre Bradley Road Grimsby North East Llncolnshire DN37 OAG Registered Office Auditor Forrester Boycl Robson Limited 26 South Saint Mary's Gate Grimsby North East Lincolnshire DN311LW Bankers Barclays Bank plc 1 Churchill Place London E14 SHP
Lincs Inspire Limited Trustees, Report The following Iruslees report covers Ihe financial year ending 31 March 2025 and is the 12th corrpany report following its commen¢8ment on 1 April 2013, The truslees are pleased to present their annual directors, report together with the consolidated financial statements of the chatity and its subsidiary for the year ending 31 MarGh 2025, which is also prepared to meet the r6quiremenls for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Chatities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stand8rd applicable in the UK arid Republic of Ireland IFRS 1021 {effective 1 January 20191. Lincs Inspire Limited is an independent, not for profil Company, set up lo deliver a range of community services including sport, leisure, and cuttural sewices, princip811y provided in and around Lincolnshir8, The following report concentrates on the financial year 2024-2025. The company was incorporated on 14 November 2012, commenced tdIng April 2013, and a¢hiev&d registration as a Gharity with the Charily Commission on 7 September 2Q16. Objectlves and actlvltles Purpose of the Charity Lin¢s Inspire is committed lo helping local people achieve their aspirations, stay active, slay well, and enjoy lrfe to the full. Our Alms & Objectives: Be Customer Focused in all we do- helping our community to be more active, heaFthy and resilient, Be Inspiring through creativity, lifelong learning, and cultural exploration. Be Better - more effective and agile, enabling us to put our resources where th&y achieve the best community impact. y Dellverlng innovative services and pi'oducts that increase partlClP8tion and respond lo customer need. By Developing our workforce to support the business, alongside growing talent and offering opportunity. y Measurlng anc] managing risk and resources, with good governance 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. and being environmentally responsible. P8ge 2
Lincs Inspire Limlted Trustees. Report What We Do Lincs Inspire delivers a wide range of seNi¢es. focusing on.. • Sports and adive leisure serwces for all ages and abililies, helping everyone to stay active and be healthy, Comrnercial aclivilies that help us lo cross-fund community facilities and activities tsrgeting improved health, mobilty, and overall wellness, Grant funded opportunities that enable us to make a difference within our ¢ommunitigS. Uplifting, inspiring and thought-provoking live entertainment, and cultural experiences, widening engagement and attracting new audiences. • FriendEy and accessible public library and archive services that support a love of literature and leaming, alongside a wide range of community services. Public ben8fit The trustees confirm that they have complied with the requirements of section 17 of the Charities Acl 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Fundraislng dlsclosuros The charity does not us8 any external fundraisers. All fundraising undertaken during the year was monitored by the Trustees. Structure} gov8rnance and management Nature of governlng document Lincs Inspire Limited is a registered Charity (Na.11 S9071) which was incorporated on 14 November 2012. It is a company limited by guarantee and is governed by its Memorandum and Articles of Association. Recruitment and appointment of trustees When r8cruiling new trustees, the company applies a process of application and inl8rview. Following which all appointments are subject to final proposal at th8 appropriate following board meeting, a vole is undertaken, and tlie appointment duly recorded. By virtue of its Articles of Association (ils governing document), all members of the charity are also trustees and directors. The board cf trustees meet whenever required but no less often that once per quarter to review the charity's performance, governance and lo support strategic planning for future developments and the sustainability of the charity. In addition, 8 sub-committee is also in place to consider specific areas of governance when required, this includes regular reviews of financial performance. At all board and sub-committee meetings declarations of interest are recorded where relevanl and in the eveiit of a conflict, the trustee would be required lo leave the meeting and take no part in any related decision-making process. The Articles of Association ref16Ct the use of virtLtal meeting platforms, enabling discussion and decision making to b8 flexible. The board however endeavours to meet in person with all board meetings during 2024125 conducted face to face for majority (quoralel attendance. however including occasional online attendance to accommodate trustee availabilily. Induction and training of trustees New trustees also undertake a process 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 seNic6s, fa¢ililies, and senior staff, Page 3
Lincs Inspire Limited Trustees, Report Organisational structure Day to day inanagement of Lincs Inspire Limifed is delegated to tlie Chief Executive- Ms S. Wells. Finance and governance is managed by th@ Finance Director, Mr D Huddleston. The HR and Compliance Director is Ms T Bratton. Company Secr6tsry continues to be Mr D. Marshall. External Auditor is Forrester Boyd. Banl(ing Servic,e$ are provided by Barclays Bank Plc. Governance Charlty trustees.. Trustee Name Office Ilf any) Dates acted if not for whole year Whol6 year Whole year Whole year Whole year Alan Leslie Bird Mark Hodson Irene Kea1 Charles Lumley Malcolm Reginald Towle Chair of Trustees from 17 July 2017 to present date Whole year lan Reekie Wliole year At the Charity's Annual Gen8r81 Meeting in September 2024, it was resolved that Mr Malcolm Towle was re-elected as Chair of the Board of Trustees until the 2025 AGM, Mr Towle's continued chaimianship of the charity and comrTlitmenl to the ongoing development of its s@rvic85 and those of Ihe company's subsidiary too is valued and apprecialed by fellow board memL)ers. Page 4
Lincs Inspire Lirrilted Trustees, Report Existing Governance: There are. no truste&s holding title lo property belonging to the charity. There are no funds Field as custodian trustees on behalf of others. All key Charity Commission guidance documents are formally reported lo the Gharity trustees who are also encouraged lo visit the Charity Commission website and to raise issues internally within the charity via the Chief Executive or via the Gompany Secretary. In relation to the Charity Commission's specific guidance on pulylic benefit, the trusleFJS understand the essential requirement that for a purpose to be charitable it must comply with the following two tests, namely.. (al it must be beneficial, and any detriment or harm that results from th8 purpose must not oulweigh the benefit I'the benefit aspect,),. and (b) it niugt benefit the public in general, or a SLilficient section of the public {'the public aspect'l. The trustees also recognise that a charitsble purpose may only benefit individuals or oth8r legal entities lo an extent that is no more than incidental to the furtherance Df the charitable purpose. The Charity Commission's guidance has been seen by all trustees. 'rhe trustees hav6 cre2t8d a struGture which separal&s all aclivities that romply with the above tests from those that do not, Those that do not, unless the incidental benefit exemption applie.s, are wholly r&s&ed to th6 trading subsidiary. The Charity al80 submitted its annual Confirmation Statements in November 2024, and thi8 was required to include a statement relating to People with Significant Control (Regulations 201e). The purpose of which is to list individuals with 'significanl control" over cornpani8s, including charitiès and limited liability partnerships, to increase the transparency of corporate structures and to identify those able to @xercise, or actually exercising, significant control. It was concluded that the PSC Register for Lincs Inspire COLild not identify any individual with significanl, control. In terms of Lincs Inspire Venues & Enterprises (subsidiary ¢ompany}, it was also confirmed that the entry for the PSC Register recorded the company knows, or lias reasonable cause to believe, that there. is no registrable person In relation to the company." Trading Subsidlary.. 2024125 was the eighth year of trading for Linc.s Inspire Venues & Enterprises Limited (LIVE), a not-for-profil private limited Gompany set up as o trading subsidiary, specifically to operate the Grimsby Audilorium and, possible other commercial ventures where trading is not ancillary to a core charitable activity. Lincs Inspire Venues & Enterprises Limited continues to operate through its own board of direclors, including representation from the main board of trusteets for Lincs Inspire Limitpd, and Iriee15 on a quarterly basis to review the sl'rategic operation of the coimpany and its ongoing support to th& charity. The board of directors walcomed Annabelle Alzalam to the board of LIVE at the December 2024 board meeting. Annabelle brings a weallh of local knowledge and expertise within thè areas of dance and stage crafl, especially working with young people. In addition. Mark Hodson, Charles Lumley and lan Reekie. directorsltrustees of Lincs Inspire Limited also joined the LIVE board of directors in September 2024. supporting I'he Gontinued close working across both organisations. Page 5
Lincs Inspire Llmited Trustees, Report Employment of disabled p6r50ns Linrs Inspire Limited and its trading subsidiary Lincs Inspire Venues & Enterprises Limited will employ disabled persons when Ihey appear to be sultable for a particular vacancy and every effort is made to ensure that they are given full and fair consideration when such vacancies arise. During employment Lincs Inspire Limited and its trading subsidiary Lincs Inspire Venues & Enterpri8es Limited seeks to work with employees, considering their personal circumstances to 6nsure appropriate training, development and advancement opportunities are available to enable them to reach their full potential. Employee Involvement Lincs Inspir8 Limited and rts trading subsicliary Lincs Inspire Venues & Enterprises Limited encourages the involvement of ils employees through regular management and team meetings, and the dissemination of information of particular concern to employees and for CeIVing th6ir views on important matter5 of policy. Disclosure of information to audltor Each truslee has taken st8PS that they ought to hav& taken as a trustee in order to make themselves aware of any relevant audit infomation and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they kriow of and of which they know the auditor is unaware. The annual report was approved by the trustees of the charity on 8 October 2025 and signed on ils behalf by.. M Towle Chairman Page 6
Lincs Inspire Limited Strateglc Report for the Year Ended 31 March 2025 Achievenients and performance We end 2024-25 with plenty of p08itive resu118, including our overall customer engagements increasing by over 58k to an amazing 1.318m. Of special note is our 6 year all time high attendance levels at the Auditorium and given the slow climb back from being the last industry seclor to réopen following the pandemic, this is a very pleasing resull. How@ver, there is no shortage of challenges going foward. We are very mindful of Ihe financial pressures households are under and the n$ed to offer great value for money. Our efforts musl be focused on the quality of seNice we provide, meeting customer demand and being the first choice in a competitive markelplai'e. This can only be achieved through slability of our workforce, efficient operalions, and a corltinued commitment to encourage and support our communities to bf) healthy and activo. 2024125 Performance Impact at a glance Leisure Centre participation increased by c70/o compared to the previous year, retaining a stable level of members and pay as you go customers. Most notable are8 of participant growth bein9 across our 85+ age range, which is great to see. Over 117k swim lessons were provided, which is 3.50/u ahead of the previous year. The ongoing training of new swim teachers conlinues to be a priority, to support our aspiration that every child in the borough sliould have access to lessons and water safety advice. Bradley Football Developnient Centre recordsd over 147k adult and junior engagements, Whist this is slightly down on th6 previous year, it 18 a strong parform8nce when considering the in¢re85ing local competition. Grimsby Auditorium delivered 162 performances with over 98k attendances, the highest attendaiice levels in six years, reflectwe of a very diverse programme of showslevents appealing to our local and catchment area audiences. Libraries continued to increase footfall and use of s&iv1¢68, wilh a 40/0 increase in visits aquating to over 173k books being issued and over 24k attendances at events and activities. Over 257k visits to the Whisby Natural World Centre throughout the year, which is a drop on the previous year. How&ver improvement works during Q4 did impact on visitor numbers, and going fotward tlie refreshed children's outdoor facilities will hopefully giv& a boost to the start of 2025126. In addilion, the venue hil an amazing NPS score of 100, d¢rronstrating a very high level of customer satisf8Ction. Performance hl9hllghts' Positive Activities - we start&d the ye8r with KGV AthletiG Stadium launching an Urban Art Wall and Skate Ramp - two new free to access services (supported by the PCC community fund). Both activities have been well received wilh skaters using the ramps every night since opening and the Art Walls are now well known for their dynamic eye-catching work by aspiring urban artists. Our Health Improvement Journey during 2024125 we have increased our Health Improvement te£m, with the h8lp of a National Lottery gr8nt. This has enabled us to recruit and train Fitness I nstructors who Ihemselves have lived experience of life changing health Conditions. In addition, we have developed a volunteering programme that will support adults thal live alone and need a little extra help to engage with our programmes, due to launch eady 2025126. In addition, this work will also support hospital discharge teams and enable vulnerablfA residents to continue their physical activity and recovery. Referrals by health professionals during 2024-25 continued with over 1,200 people benefiiing from the Active Forev&r referral programme available acro$8 all our leisure venues. Page 7
Lincs Insplre Llmited Strategic Report for the Year Ended 31 March 2025 Llbrarles & Publ1¢ Archives our Library Service continues lo extend its support for children with special educational needs, with sensory senJic&s and adapted activities for children with hearing and visual impairment being valued by both children and parents. Complemented by school holiday atstivitieg provided via the HAF grant funded programme that &nsures an enriched experi6nce with choices to match educational need. A highlight during Q3 was the success of an inspirational young volunteer, with leaming difficLJlties, who joins us each week from Linkag6 College. Alisha helped to create our sensory room at Cleethorpes Library, and was Noirinaled by us for the 'Oulstanding Volunteer, category within the national 'Seriously Social, awards. Alisha made il to the final three and attended a glitzy awards ceremony in Manchester. Fabulous achievement overcoming so many hurdles. Sports Development - has seen a 13.5% increase in engagement with schoolslschool children, through the 'Bikeabilily' programme supporting safe cy¢ling, and attendance at after school and school holiday activities. Most nolably school PE support has seen a significant uptake. Grlmsby Audltorium the venue has had a very positive year with increased performances and attendances made possible through a very diverse programme of activities, somelhing for the whole family. Including relaxed performances supporting a wide range of health conditions, an ever-popular pantomime with over 17k attendances and a continuing FL4F grant funded programme that enables children from low-income families to experience live theatre during school holidays. Whlsby Nalural World Centre - whilst patronage has dipped this year, there arg a number of factors impacting on this, including improvement works to the facilities and the continuing financial pressures felt by all. We are pleased to contlnue working with North Kesteven District Council, who are supportive of these challenges and working with us to make infrastructure chang88 that will support a more sustainable seNice. Going into 2025126 we 8re confident that refreshed children's outdoor facilities will be well supported. Marketing & Communications: Our marketing campaigns continue to utilise a wide range of platforms, including radio and TV advertising, alongside targeted social media channels. This ensures we reach a wide audience, h@Iping lo increase participation. Highlighting user experiences and customer goals and achievernents continues resultillg in positive feedback and on occasion interest by national media channels. During 2024125 8 number of n8tionaUindustry specrfic publicat'ions have highlighted our work and especially the achievements of our customers completing our health referral programmes. During 2024125 work has been undertaken to produce video guidgs to many of our facilities, demonstrating accessibility and hopefully giving confidence to those less confident. These are due to be launched early 20?.5128 and form part of our Active Forever Nation81 Lottery giant funded programme. stafflng: Employée numbers have remained relatively stable throughout the year at c. 460 l¢ombined full-time, part-time and casual staff) our FTE level is c. 180 staff. Certain areas of recruitment remain challenging due to skills shortages. However a proactive approach to building internal and external Irainirig opportunities is starting to produce posilive results. Our work experienc6 programme continues to grow, especially supporting young people with learning difficulties and across all our services. Development of oiir workforce continues lo be a key priority, and the ctiarity provides a wide range of opportunilies from traineelapprenliceships through to the attainment of nationally recognised qualificatioiis. Page 8
Llncs Inspire Limited Strategic Report for the Year knded 31 March 2025 In addition, a range of vocalional training and awargn@ss raising oppartunit16s are provirled both internally and exlernally, supporting the needs of our different sectors. A mandalory training programm8 also supports new recruits, alongside ref'resherlCPD training for existing staff, for example Fir81 Aid at Work, ISOH {managing health and safety), Manual Handling, Working at Heights etc. A well established cornpanywid8 'Annual Performance & Development Review, programme takes place each year, supporting individual's personal development and exploring job performance. In addition we also carry out insight sutveys, providing further opportunity for stsff lo share feedbacklrai5e awareness, The Ghan'ty submitted its aiinual Gender Pay Gap report on I'iime, highlighting a balanced workforce where pay is based on Ilie role and its requirements, with all job descriptions evaluated 8nd aligned to an appropriate pay grade. Risk Management Heatth and Safety.. The charity continues to actively promote good health and safety practice. This includes investment in staff training, both formal accredited training (such as IOSH Managing Safely t'raining) through to general health and yafety awareness raising. Health and safety audvcs have continued throughout 2024125 with a continued focus on ensuririg our facilities remain safe and accessibl8 for slaff and customers. Board meetings include a standing agenda stein, providing a dashboard for health and safety performance. In addition, nominated health 8nd $8fety representatives from each service area meet regularly. Within our health and safety remit we also encompass s8fegu8rding, wvhereby the company Health and Safely Officer is also the designated Safeguarding Officèr, supporting proactive awareness rai8ing across all venues and conlinued compliance with safeguarding policies and procedures, strategi¢ Risk. The management of risk forms part of our daily operation8, including risk assessmenls and safe systems of work. Reviews are regularly undertaken and outcom&s rai8@d at bolh lanagement me&tings and board meetings where eppropriate. All managers have responsibility for raising n'sk related concerns eitlier immediatety with the chief exeLutive or as part of the monthly cycle of senior management team meetings. The board of trustees review the compan15 Strategic Risk Register on a regular basis. In addition, an AssuranL6 Map is produced and signed off by the board. Managing risk is an ongoing process, and is the responslbility of all staff, voluntee18, 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 Ihe board is prepared to consider all delivery options and will select thosè with the highesl probability of productive Dutcomes. However, an excoption to this would arise where an aclivily has health and safety or safeguarding risks, wher&by the appetite would reduce to 'Averse'. Flnanclal Revlew 2024125 Review: Our main Sources of Inc,ome,' leisure memberships ¢ind theatre ticket sales ended the year broadly in line with budget and target setting, despite the ongoing increase in the cost of goods and services. We continue to deliver against our grant funded projects and have a proactive approach to applying for suitable grant funding as it arises. Price increases have been unavoidable,, however, we do our best to ensure these are affordabl@ and remain competitive, Ideally seeking grant funding opportunities to support the delivery of subsidisedllow-cost actrvities that support our most vulnerakile residents. Pricing Policy.. Annual priGe reviews and any r8sulling increases are consider&d and aoreed by Ihe Soard of Truslee8, taking imto consideration Cufrenl inflationary rates, cost of supply and conipetitor analysis. In certain cirGum8tanGes in-year increases may be applled, especially in relation to increasing costs associated with food and beverage sales. Pag& g
Lincs Inspire Limited strategic Report for the Year Ended 31 March 2025 Principal Funding Sources.. As noted, the principal funding sources are from admission and usage income, supported by contract income from North East Lincolnshire Council and North Kesleven District Council. In addition, Several restricted funds arise from grants that have been secured to support specific objectives. Approa¢h lo Inveslment.. The board of trustees review keylstrategic investment proposals, 85 and when presented, considering overall cost against lifetime benefit and compatibility with our charilable purpose. Investment in equipment and operating systems is considared Ihrtsugh the development of business cases and presentation of options. Procurement is in accordance with the charity's procurement procedures and a commitment to achieve best value. The board of trustees approve an annual ¢apilal programme bssed planned expenditure. The charity continues to benefit from the use of procurement frameworks and where practical collaborative purchasing, for example, working in partnership with other regional library seNices for the collective purchasing of library books. The charity does not hold any external investments or plan to undertake any investmenls outside the core delivery of its services. Included wilhin our environmental commitments is an aim, where possible, to utilise local suppliers, to re-use and recycle, and to carefully mariage utility use. Financial Reserrfes Th6 board of trustees have considered their approach to holding reserves and to date the level cash wilhin the organisation has not been sufficient to enable the creation of any long-tenrj r&s&rve8. However, as a charity short to medium term reseNes are in place, some of whlch are linked to restricted funds and 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 lo 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 tr8nsferred s&rvices. A re¥erves policy is in place and reviewed from time to time to ensure effectiveness. Th6 charitable group's year started with unrestrided funds of £2,312,072 surplus. Unrestricted incoming resources were £10,235,108 (2D24.' £9,391,711). Unrestrictecl resources expended amounted to £9,770,333 {2024- £8,907,946), Actuarial r8-measurement loss on the defined benefit scheme was a deficit of £153,000 (2024. £134,000 deficill and a transfer to restricted funds of £6,641 (2024. £nill left a surplus of £2,617,206 (2024: £2,312,072}. This inclLides a pension asset of £nil. In the instance of the pensicin being in a liability position, this is guaranteed by North Easl Lincolnshire Council. Restricted reserves stand al £481,456 (2024: £352,688) of which £97,727 (2024.. £128,198) relates to amounts already expended on fix&d ass8ts. Total reseNes stand at £3,098,862. Free reserves, which excludes the pension surplus, reslricted funds and amounts which can only b8 r621ised by disposing of fixed assets stand at £2,147,940 surplus. The trading subsidiary, Lincs Inspire Venues & Enterprises Limited, had net funds al the year end of £187,628, made up of restricted funds of £322,870 surplus and unrestrictad funds of £135,042 deficit. This is after incurring an in year profit before tax of £113,541. The charity itself had a net position of £2,911,034 made up of restricted funds of £158,786 and unrestricted funds of £2,752,248. This is after incurring an in year surplus of £354,324. Page 10
Lincs Inspire Llmlted Sti'ategic Report for the Year Ended 31 March 2025 Plans for future perlods To ensure our continued business viability we aim to increase participation, introduce new services that support our aims, and to ralionalise those services that no longer meet the needs of the business or arÈ no longer affordable, Most importantly, we will continue to develop our workforce to In6et these demands. Summary of current development activity.. Health Improvement programme - continued developmer)t of our grant funded programn)es that aim to support transitional pathway5 from assisted exercise into more mainstream activities, In addition, new heatthy weight management piogrammes cumbining light exerc,ise and t8rgeling participants who are managing long-teriii health conditions where a healthy weight may be more challenging but clearly beneficial to overall health. Investment In gym equlpinent ~ Continued investment in our equipinent on a rolling replacement and upgrading basis, with our latest investment being directed towards resistancelstrength gym equipinent with a particular focus on accessible equipment to support all users, especially those with a disability or long-term health condition. Llbrarles transltlonal development - in response to the temporary loss of usage ot the central library building from the final wegk in March 2025, create opportunities for conlinued service delivery and customer engagement, trialling new more agile ways of working alongside supporting the local council with its review and future strategy for the servlce, Explorlng envlronmental and efflclency improvements working in partnership to unlock fundinglinvest ID save opportuni116s, alorig8id& a continuous review of operating systems, enabling savings and reducing carbon foolprinls. We will continue to develop the role of our site based environmental ambassadors, encouraging energy and operational efficiencies. Reviewing business systenvJ improve levels of automationlredLice manual intervention. alongsid& developing our customerfacing systems to streamline processès and payments. Innovatlve recrullmerit and training - exploring wider opportunities for in-house training services supporting tailoi-ed appr6nticeltraiiiee opportunities 8nd the launch of 'learn while you earn, programmes to address some of the most challenging areas of recruitment. Summary 2024-25 d6mc>nstrat8s plenty of positive r85ults, including our overall custonier 8ngagements increasing by over 58k to an aiiiazing 1.3t8m. Of special note is our 6 year all time high attendance levels at the Auditorium and giv&n the slow climb bac1< from being the last induslry sector to reopen following the pandemic, this is a very pleasing rasult. However, there is no shortage ol challenges going fonmard, We are very mindful of the financial pressures households are under and the need to offer great value for money. Our efforts must be focused on the quality of service we provide, meeting customer demand and being the first choice in a competitive marketplace. This can only be achieved through Stability of our workforce, efficlent operations, and a continued commitment to customer serviGe. Our business planning looks lo the future and new opportunities, at the same tiire protecllng the core business to ensure we continue to be able to deliver servires that have a positive communty impaGt. We remain committed to supportiiiq health and wellbeing and encouraging our community to slay active and enjoy lif@, We are also proud of our workforce and will continue to invest in their development, alongside embedding a cultLire of kiiidness and a working environment that supports openness and engagement. We want both our staff and customers to have the best possible experience when they engage with Lincs Inspire. The strategic report was approved by the tnjslees of the charity on 8 October 2025 and signed on ils behalf by. M I'owle Chairman Pag8 11
Lincs Inspire Limlted Statement of Trustees, Responsibilities The trustees {who are also the directors of Lincs Inspire Limited 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), including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland Company law requires the Iruslees to prepare financial statements for each financial ye8r. Under company law the trustees musl not approve the financial statements unless they are satisfied that they give a Irue 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 its income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and apply them conslstently., observe the methods and principles in the Charities SORP., makejudgements and estimates that are reasonable and prudent., slate whether 8pplicable accounting standards, comprising FRS 102 have been followed, subject to any malerial departures disclo¥ed and explained in Ihe financial slatements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the parent charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose wlch reasonable accuracy at any time the financial position of the parent chafltable company and the group and enable them to ensure that the financial statements comply with the Companies AGt 2Q06. They are also responsible for safeguarding the assets of th& 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 malntenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in olher junsdictions. Approved by the trustees of the charity on 8 October 2025 and signed on its behalf by.. M Towle Chairman Page 12
Lincs Inspire Llmlted Independent Auditor's Report to the Members of Lincs Inspire Limited Opinion We hav8 audited the financial stalements of Lincs Inspire Limited (the 'char5table parent company'l and its subsidiaries (the 'group') for the year ended 31 March 2025, which comprise the Consolidated Stalemenl ol Financial Activities, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparstion is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applioablo in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Acoounting PraGtic8}. In our opinion the financial statements.. give a true and fair view of the state of the group's and parent charity's affairs as at 31 March 2025 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 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS IUK)} and applicable law. Our responsibilities under those standards are further described in the auditor respoiisibilities for the audit of the financial statements seclion of our report. We are independenl of the group in accordance with th6 ethical requirements that are relevant to our audit of the financial statements In the UK, including the FRC'S Ethical standard, and we have fulfilled our olher elhical responsibilities in accordaiice with these requirements. We believe that the audit evidentte we have obtained is sufficient and appropriale to pravide a basis for our apinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements 15 appropriate. Based on the work we have performed, we have not identified any material untsrtainties relating to events or conditions that, individually or colle¢tively, may cast significant doubt on the yroup's ability to continije as a going concern for a p8riod of at l&ast twelve months from when the original financial stalements were authorised for issue. Our responsibilities and the responsibililies of the trustees wth respect to going concern are described in the relevant sections of this report. Othor information The trustees are responsible for the other infomialion. The other infomiation comprises the information included in th8 annual report, olher than the financial statements and our auditorfs report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent othetwise explicitly stated in our report, we do not express any form of assurance conclusion tliereon, In connection with our audit of the financial statemenls, OLir responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or Othe1$e appears to be materially misslated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statem&nts or a material misslatement of the other information. If, based on the work we have performed, we conclude that there is a materi81 misstatement of this other inforrmation, we are required to report Ihat fact. We have nothing to report in this regard. Opinion on other matters prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audil.. the infomialion given in the Strategic Report and Trustpes, Report for the financial year for which thè financial statemenls are prepared is consistent with the financial statefflents, aiid Page 13
Lincs Inspire Limited Independent Auditor's Report to the Members of Lincs Inspire Limited the Strategic Report and Truslees, Report have been prepared in accordance with applicable legal requiremenls, 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 Ihe course of the sudit, we have not identified material misstatements in the Strategic Report and the Trustees, Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you rf, in our opinion.. adequate accounting records have nol been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us., or the parent charitable company financial statements are not in agreement with the accounting records and retums; or certain disclosures of trustees remuneration specified by law are not Made- or we have not received all the information and explanations we require for our audtt. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities (sel out on page 12), the trustees are responsible for the pr¶tion of the financial stslements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misststement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going conc8rn basis of accounting unlsss th6 truste8s eith6r inlend lo IiqLtidate the charity or to cease operations, or have no realistic allemative but to do so. Auditor r8sponsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, wh8th&r due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is 8 high level of assurance, but Is not a guarantee that an audit conducted in accordance with ISAS {UK) will always deteGt a material misslatemenl when it exists. Misslatements can arise from fraud or error and are considered material if, individually or in the 8ggregate, th&y could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements, The extent to which our procedures are capable of detecting irregularities, iiicluding fraud is detailed below: Discussions with management, including consideration of known or suspected instances of non-compliance held. Challenging assumptions and judgements made within significant accounting estimates and judgements such as depreciation. Identification of key laws and regulations central to the charities operations and review of compliance wilh suc.h laws including a review of Charities Commission website. Testing of journal entries and potential override of systems. Because of the inherent limitations of an audit, there is a risk that we will nDt detect all irregularities, including those leading to a malerial miSStatem8nl in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law Dr regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely lo become aware of instarices of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment, forgery collusion, omission or misrepresentation. Page 14
Lincs Inspire Llmlted Independent Auditor's Report to thp Members of Lincs Inspire Limited Use of our report This report is made so181y lo the charitable parent company's trustees, as a body, in accordance with Cliapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the gi-oup'$ trustees those matters we are required to State lo them in an auditor's report and for no other purpose, To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable parent company and it8 trustees gs a body, for our audit work, for this report, or for the opinions we have formed. Carrie Anne Jensen ACA (Senior Statutory Auditor) For and on behalf of Forrester Boyd Fiobson Limited, Statutory Auditor 26 South Saint Mary's Gate Grimsby North East Lincolnshir& DN31 1LW 8 October 2D25 Pagfa 15
Llncs Insplre Llmited Consolidated Staternent of Financial Activities for the Year Ended 31 March 2025 (Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and L05ses) Unrestricted funds Restricted funds Total 2025 Total 2024 Note Income and Endowments from: Donations and legacies Charitable activities other trading activities Inveslment income other income 2,236,228 4,746,205 2,758,551 125,813 368,311 289,957 4,769 2,526,185 4,750,974 2,758,551 125,813 435,644 2,588,057 4,205,088 2,377,446 91,898 417,210 67,333 Total incom8 10,235,108 362,059 10,597,187 9,679,699 Expendlture on: Raising funds Charitable activities 12,306,457) 7,463,876 (85,0811 154,8511 12,391,538) 7,618,727 {2,050,721) {7,260,989 Total @xpendilur6 9,770,333) (239,9321 (10,010,285) (9,311,710 Net income Transfers between funds 464,775 {6,641) 122,127 6,641 586,902 367,989 Other recognised gains and losses Actuarial gainsl (loss@s) on defined benefit pension schemes 25 {153,0001 {153,000} (134,0001 Net movement ill funds 305,134 128,768 433,902 233,989 Reconciliation of funds Total funds brought forward Total funds carried fopNard 2,312,072 352,688 2.664,760 2,430,771 26 2,617,206 481,456 3,D98,662 2,664,760 Comparativ& figures can be seen on the following page. The notes on pag&s 21 to 45 form an integral p8rt of these finan¢ial st8tements. Page 16
Lincs Inspire Limited Consolldated Statement of Financial Activities for th6 Year Ended 31 March 2025 (Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrlcted funds Restrlcted funds Total 2024 Not8 Income and Endowments from: Donations and legacies Chai'itable activities Other trading activiti8S Investment incom Other income 2,369,645 4,198,104 2,377,446 91,898 354,618 218,412 6,984 2,588,057 4.205,088 2,377,446 91,898 417,210 62,592 Total incorre 9,391,711 287,988 9,879,699 Expenditure on: Raising funds Charilable activities (1,970,794) (6,937,152) 8,907,946 (79,927) 323,837 (2,050,721) 7,26Q,989) Tolal expenditure Net incomellexpenditur8) Taxation 403,784 9,311,710) 483,765 (115,776) 361,989 Other recognised gains and losses Actuerial gainsl {losses) on defined ben&fit pension schemes 134,000 134,0OCI Net movement in funds 349,765 (115,7761 233,989 Reconclliatlon of funds Total funds brought forward Tot81 funds carried forward 1,962,307 468,464 2,430,771 26 2,312,072 352,688 2,8fv1,760 The notes on pages 21 to 45 form ai) inteqral part of tFieso financial staterrients. Page 17
Lincs Inspire Limited {Registration number: 08293679) Consolidated Balance Sheet as at 31 March 2025 2025 2024 Note Fixed assets Tangible assets Current assets Stocks Debtors Cash at bank and in hand 17 566,993 588,848 19 20 21 100,022 214,880 3,349,520 3,664,422 980,027 91,439 239,221 2,899,081 3,229,741 1,128,795 Credltors. Amounis falllng due within on8 year 22 Net current assets 2,684,395 2,100,946 Total assets less current liabilities 3,251,388 2,689,794 25,034 Provislons 24 1152,726} 3,D98,662 Net assets 2,684,76D Funds of the group: Restricted income funds Restricted funds 28 481,456 352,688 Unrestricted Income funds Unrestricted funds 2,817,208 3,098,6e2 2,312,072 2,664,760 Total funds 26 The financial stalements on pag6s 18 to 45 were approved by the trustees, and authorised for issue on 8 October 2025 and signed on their behalf by.. M Towle Chairman Th8 notes on pages 21 to 45 form an integral part of t,hese financial statement.s. Page 18
Lincs Inspire Limited (Registratlon number: 08293679) Balance Sheet as at 31 March 2025 2025 2024 Note Flxed assets Tangible assets Inve,stmenls 17 440,124 438,601 440,125 438,602 Current assets stocks Debtors Cash at bank and in hand 19 20 21 81,270 309,531 2,686,289 77,523 324,567 2,326,125 3,077,090 2,728,215 Credltors.. Amounts falllng due within one yèar Net current assets 22 481,382 {6'10,107 2,.fj95,708 2,118,108 Total assets less currant liabilitie5 3,035,833 <124,799) 2,911,034 2,558,710 Pi'ovisions 24 Net assets 2,556,'710 Funds of tho charlty: Rostricted income funds Restricted funds 28 158,788 82,966 Unrestrlcted inconie funds Unrestricted funds 2,752,248 2,473,744 Total funds 26 2,911,034 2,556,710 No sta18ment of financial aclivilies is presented for the charity as permitted by section 408 of the Companies Act 2006. The charity made a surplus after tax for the financial year of £354,324 (2024~ £180,057). Th8 financial statements on pages 16 to 45 were approved by the trijslees, and aulhorised for issue on 8 October 2025 and signed on their behatf by.. M Towle Chairmari The notes on pages 21 to 45 form on integral part of these financial statements, Pag6 19
Lincs Inspire Limited Consolidated Statement of Cash Flows for the Year Ended 31 March 2025 2025 2024 Note Cash flows from operatlng actlvities Net cash income 433,902 233,989 Adjustments to cash flows from non-cash items Depreciation Amortisation Investment income Loss on disposal of tangible fixed assets RS102 actuarial liability aLljustment 8, 17 200,628 196,179 1,944 191,8981 850 90,000 1125,813) 508,719 431,064 Working capital adjustments Increase iii stocks Decrease in debtors IDecrease}lin¢rease in creditors Increase in provisions IDecrease)lincr88se In deferred income Net cash flows from operating activit168 Cash flows from Investlng activities Interest receivable and similar income Purchase of tangible fixed assets Nel cash flows from investing activities 19 20 22 24 {8,5831 24,341 175,3701 127,692 73,398 (16,418) 28,606 64,559 1,Q31 243,191 503 401 752,Q33 125,813 178,775) 91,898 {313,588 17 52,962 221,690) Net increase in cash and c8sh equivalents Cash and cash equivalents at 1 April Cash and cash equivalents at 31 March 450,439 530,343 2,899,081 2,388,738 3,349,520 2,899,081 The notes on pages 21 to 45 form an integral part of these financial statements. Page 20
Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2025 1 Charity status The charity is limited by guarantee, incorpc)rated in England, and consequently does nol have share capital. Each of the trustee8 is liable to contribute an amount not exceeding £10 towards the ssset8 of the charity in the event of liquidation. Tho address of its registered Office is.. Bradley Football Development Centre Bradley Road Grimsby North East Lincolnshire DN37 OAG These financial statements were authorised for issue by the trustees on 8 October 2025. 2 Accounting policies Summary of signlflcant accounting policie5 and key accountlng estlmates The principal accounting policies appli8d in the preparation of these financial staternents are set out below. Thes6 policies have been consistently applied to all the years presented, unlgss otherwise stated. Statement of compllance The financial btatements have been prepared In a¢cordance with Accounting and Reporting by Charities.. stat8inent 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) (published October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republlc of Ireland {FRS 1021. They also Comply with the Companies Act 2006 and Charities Act 2011. Basls of preparation Linc,s Inspire Limited meets the definition of a public benefit entity under FRS 102. Assets 8nd liabilities are initially recognised at historical cost or transaction value unless otheiSe staled in the relevant accounting policy not8s. The financial statements are presented in sterling and rounded to the nearest pound. Basis of consolldatlon The consolidated financial statements consolidat8 the financial slatements of the charity and its subsidiary undertakings drawn up lo 31 March 2025. A subsidiary is an enlity controlled by the chaiTty. Coritrol 1$ achieved where the charity has the power to govem the financial and operating policies of an @nlity so as to obtain benefits fram its activities. Inter-company trsnsactions, balances and unrealised gains on transactions bebNeen Ihe charity and its 8Libsidiaries, which are related parties, are eliminated in full. IntrarOUp losse8 are also eliminated but may indicate an impairment that requires recognition in the consolidatecl financial statements. Accounting policies of subsidiaries have been changed Whe n8c8ssary to ensure consistency with the policies adopted by the group. Going concern The trustees consider that there are no material uncertainties about the group's abilily to conlinue as a going concern nor any significant areas of uncertainly that affect the carrying value of assets held by the group. Page 21
Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2025 Judgements The LGPS valuation returned an asset position in the current year. The actuary provided an asset ceiling paper which r@strict8d the asset lo £nil. The Trustee8 believe this is appropriate as the asset is not expected to b8 recovered, either through payment or reduced contributions, Income and endowments All income is recognised once the charity has entill&menl to the income, il Is probable that the income will be received and the amount of the income receivable can be measured reliably. Donations and legacies Donations are recognised wh&n the charity has been notified in writing of both the amount and settlement date. In the event that a donation is SLibject to Conditions that require a level of perfomiance by the charity before the charity is enlitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the cantrol of the charity and it is probable that these ¢onditions will be fulfilled in the reporting period. Grants receivable Gr8nt8 are recognised when the group has an entitlement to the funds and any conditions linked to the grants h8V8 been met Where performance conditions are attached to the grant and are y8t to be met, the Income is recognised as a liabilty and included on the balance sheet as deferred income to be released, Expanditure All expenditure is rscognised once there is a legal or constructive obligation to that exp&nditure, il is probable settlement is required and the amount can be measured reliably. All costs are 811ocated to the applicable expenditure heading that aggregate similar costs to that calegory. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central slaff costs allocated on tho basis of time spent. Ralslng funds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities Ihat raise funds. Charitable actlvities Lharitable expenditure comprises those costs incurred by the charity in the delivery of ils activities and services for its beneficiaries. It includes both Costs that can be allocated directly lo such activities and those cosls of an indirect nature necessary to support them. Support Costs Support costs include central fLinclions and hav& been allocated tc activty Cost categories on a basis consistenl with the use of resources, for example, staff numbers. Governance costs These include costs attributable lo the charitls compliance with Gonstitutional and statulory requirements, including audit, strategic management and trustee's meetings and reimbursed expenses. I'axation I'he charity is considered lo pass the tesls set out in Paragraph 1 Schedule S of the Finance Act 2010 and therefore it mests the definition cf a charitable conipany 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 Corporatic)n TaxAct 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent th81 such income or gains are applied exclusively to charitable purposes. Page 22
Lincs Inspire Llmlted Notes to the Financial Stateinents for the Year Ended 31 March 2026 Tanglbla flxed assets Individual fixed assets costing £1,000.00 or more are initially reLorded at cost. Amortisation 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 Amortlsation method and rate 3 years straight line Depreciation and amortisation Depre¢iation is provided on tangible flxed assets so as to write off the cost or valualion, less any estimated residual value, over their expected useful economic life as follows.. Asset class Gym equipmgnl ICT Equipment Plant and equlpmenl Local history reference books Hardback books Paperback books Children's books Recordings, radio and visual Depreciation method and rate 200/0 130 140 250 500 17Q/o Stock stock is v81ued at the lower of cost and estivnaled selling price less costs to complete and sell, afl&r due regard for obsolel& and slow moving stocks. Cost is determin8d using the first-in, first-oul (FIFO) melhod. Trade debtors Trade debtors are amounts due from customers for merch8ndise sold or services performed in the ordinary course of businfyss. Trade debtors are recognised al the transaction price, less provision for impaimient. A provision for the impairment of trade debtors Is established wh&n there is objective evidence that the charity will not be able ID collect all amounts due according to the original terms of the receivables. Cash and cash aquivalenis Cash and cash equivalents comprise cash on hand aiid call deposits, and other short-term highly liquid investments Ihat are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers and are recognised al transaction price. Provisions Provisions are recognised when the charity has an obligation al the reporting datp as a result of a past event, it is probably that Ihe charity will be required to settle that obligation and a reliabl& estimate cam be made of the amount of the obligation. Page 23
Lincs Inspire Limlted Notes to the Financial Statements for the Year Ended 31 March 2025 Fund stru¢tiire Unrestricted income funds are gen6ral funds that are available for use at the trustees, discretion in furtherance of the objgctives 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 lo that area or purpose. Penslons and othor post retlrement obligations Retirement benefits to employees of the charitable company are provided by the East Riding Pension Fund (ERPFI. This is a defined benefit scheme. The ERPF is a funded scheme and the assets are held separalely from those of the charitable company in separate Iruslee adminislered funds, Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rale equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency lo the liabilities. The actuarial valuations are obtained at leas1 Iriennially and are updat8d al eaGh balance sheet date. The amounts charged to the operating surplus are the current service costs and the casts of scheme inlroductians, benefit Ghanges, settlements 8nd curtailm8nts. They are included as part of staff costs incurred. Net interest on the n8t d&fined benefit liabililyl asset is also rewgnised in the Stalement of Financial Activities and comprises the interest cost on the defined benefil obligation and the interesl income on th@ scheme assels, calculated by multiplying the fair value of the scheme assèts at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognis&d gains and losses. Actuarial gains and losses are recognised immediately in other recognised gains and losses. Wtth effect from 1 April 2015 the scheme was frozen and no longer available to 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. Flnanclal Instruments Classlflcadon The charity only has financial assets and financial liabilities that qualify as basic financial instruments, Recognltlon and measurement Basic financial instruments are initially recognised at transaction value and subsequently measured at their fair value. Fixed asset investments are measured al fair value, with gains and losses being recognised in the Statement of Financial Aclivilies. Investments Investm8llts in sub8idiaries measured at cost18ss impairment, Page 24
Lincs Inspire Limited Notes to the Financlal Statements for tPie Year Ended 31 March 2025 CrltiGal accountlng estimates and areas of judgoment Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed lo be reasonable under the c.ircumstances. The Charity makes estimates and assumptions concerning the future. The resulting 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 material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below, The present value of the Loc81 Gov8rnment Pension Scheme defined benefit liabilty depends on a number of factors Ihat are determined on an actuarial basis using a variety of assumptions. The assumptions u8ed in determining the net cost (income) for pension8 include the discount rate. Any changes in these assumptions, which are disclosed in note 25, will impact the carrying amount of the pension liability. Furthermore a roll foDNard approach which proj8cts resLills 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 2025. Any diff8rences between the figures derived from the roll forward approach and a full actuarial valualion would impact on the carrying amount of the pension liability. 3 Income from donatlons and legacies Unrestricted funds General Restrlcted funds Total 2025 Donations and legacies., Donations from companies, trusts and similar proceeds Grants, including capital grants,. Govemment grants Grants from other sources Contract incoin& 4,256 4,256 150,693 135,008 15Q.693 135,008 2,236,228 2,236,228 2,236,228 289,957 2,526,185 Unrestrlcted funds Genoral Restrlcted funds Total 2024 Donations and legacies,. Donations from companies, trusts and similar proceeds Grants, including capital grants., Government grants Grants from other sources Contract income 2,043 2,043 212,332 6,080 212,332 6,080 2,387,602 2,367,602 2,369,645 218,412 2,588,057 Included within government grants are amounts amounting to £115,823 (2024.. £168,352) relating to local authority grants for running school holiday activlties, £NIL12024-. £43,980) relating to an Arts Council Grant, £20,820 relating to a skate park PCC and £14.250 relating to the Sport England's mDvem6nt fund. Pag8 25
Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2025 4 Income from charltable activltles Unrestrlcted funds General Restricted funds Total 2025 Sports, fitness and leisure Arts and attractions Libraries and archives 4,891,719 30,793 23,693 3,075 1,694 4,694,794 32,487 23,893 4,746,205 4,769 4,750,974 Unrestricted funds General Reslricted funds Total 2024 Sports, fitness and leisure Arts and attractions Libraries and archives 4,169,398 4,958 23,748 4,198,1D4 2,948 4,036 4,172,346 8,994 23,748 6,984 4,205.088 5 Income from other tradlng activlties Unrestricted funds General Total 2025 Trading income., Sales of goods and services Events income., Other events income Retail sales income Ticket sales Food and beverage Commissions on sale of merchandise 992 992 1,011 84,674 1,558,376 1,059,958 53,540 2,758,551 1,011 84,674 1,558,376 1,059,958 53,540 2,758,551 Unrestricted funds General Total 2024 Trading income., Sales of goods and seNices Retail sales income Ticket sales Food and beverage Commissions on sale of merchandise 5,625 79,739 1,230,695 1,008,978 52,409 5,625 79.739 1,230,695 1,008,978 52,409 2,377,446 2,377,446 Page 26
Lincs Inspire Llmited Notes to the Financial Statements for the Year Ended 31 March 2025 6 Investment income Unrestrlcted funds General Total 2025 I nlerest receivable and similar inLom8', Interest receivable on bank deposits 125,813 125,813 125,813 125,813 Unrestricted funds General Total 2024 Interest receivable and similar income., Interest receivable on bank deposits 91,898 91,898 91,898 91,898 7 Other income Unrestricted funds General Reslricted funds Total 2025 Income from trading subsidiary Hire of facilities Sundry income 44,336 43,704 280 271 67,333 111,669 43,7D4 280,271 358,311 67,333 435,644 Unrestrlcted funds General Restricted funds Total 2024 In¢om& from trading subsidiary Hire of facilities Sundry income 33,007 39,596 282,015 354,618 62,592 95,599 39,596 282,015 62,592 417,210 Page 27
Lincs Inspire Llmited Notes to the Financlal Ststements for the Year Ended 31 March 2025 8 Expendlture on raising funfls a) Costs of tradlng activltles Unrestricted funds General Restricted funds Total 2025 Costs of goods sold Other subsidiary costs Depreciation, amortisation and other similar costs Staff Costs 1,685,390 129,911 13,542 477,614 1,685,390 190,341 38,193 477,614 2,391,538 60,430 24,651 2,306,457 85,081 Uiirestricted funds General Restricted funds Total 2024 Cost5 of goods sold Other subsidiary costs Depreciation, amortisalion and other similar costs Staff Costs 1.383,709 152,201 19,8C)3 415,081 1,970,794 1.383,709 203,754 45,408 417,850 2,050,721 51,553 25,605 2,789 79,927 9 Exp6nditure on charltable actlvltles Activity undertaken directly Activity support costs 2025 Sports, filness and leisure Arts and altraclions Libraries and archives 4,685,457 702,605 1,399,640 6,787,702 Actlvity undertaken directly 608,637 52,671 169,717 5,294,094 755,276 1,569,357 7,618,727 831,025 Actlvlty support costs 2024 Sports, fitness and leisure Arts and attractions Libraries and archives 4,222,495 7C15,068 1,396,272 686,368 8Jf,997 184,791 937,154 4,908,861 771,Q65 1,581,063 6,323,835 7,260,989 Page 28
Lln¢s Insplre Limitgd Notes to the Flnan¢lal Statements tor the Yèar Endéd 3q March 2025 10 Analy6is of goveMan¢è And support ¢ts8ts Support costs 411oGated to charltabl¢ #ctlvWè$ Other tiipport costs Governanoe eosts Flnancè ¢0$ts InfDnnatlon technDIog¥ staff Aclinlnlstratlon PrÈmlse¥ ¢08ts ¢05ts CV6ts Ba¥ls ol Total 2025 Sports. fitness and I&iÈufÈ Arts and attiAr.Ilon5 Librari08 and archives 26,8e7 2,326 7,492 33,515 2,900 9,345 11,767 1,01 4@2,858 4D,038 129,010 3,585 S10 1,000 4.895 7,158 620 1,998 83.08¥ 5,460 17.S93 608,637 52,e71 180.117 36,684 45,760 16,066 631,704 9,774 86,142 other suppo1* ¢¢$t$ 834,025 Govornan¢• C05t$ FlnanGe cos1$ Informatlon t4chJiology Stsff Admlitl$tration Premises ¢ost6 C061fy Ba$is of Ilooatlon Total 2D24 Sports, fltne$$ Ind leltsuro Arts and attractions Llbraries anrJ archiv¢s 32,417 3,117 8.728 14,507 1,395 3.906 11.8)3 1,138 3,188 491,208 47.232 132.249 7,280 701 1.9e3 7.206 693 1.940 121,905 586,3e6 65,997 .184,791 937.154 32,820 44,262 19,8D8 670 688 9,954 ,B39 8a$i$ of alloeatlo R&feYènGQ Method of alloc8tlgn stav numbers Poye 29
Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2025 Governancg costs Unrestrlcted fund5 General Total 2025 Audit fees Audit of the finaricial statements Other fees paid to auditors Legal fees other governance costs 29,531 2,435 6,567 23,086 61,619 29,531 2,435 8,567 23,086 61,619 UnrtriCted funds General Total 2024 Audit fees Audit of the financial statements Other fees paid to auditors Legal fees 28,159 2,355 13,748 44,26?. ?.8,159 2,355 13,748 44,262 11 Net incomlngloutgoing resourc6S Nel incoming resources for the year includ6'. 2025 2024 Operating leases - other assets Audit fees Olher non-audit services Loss on disposal of tangible fixed assets Depreciation of fixed assets Amortisation of goodwill 7,768 29,531 2,435 10,510 28,159 2,355 850 196,17g 1,944 200,628 12 Slaff ¢osts The aggregate payroll costs were as follows.. 2025 2024 staff costs during the year were.. Wages and salaries Social security costs Pension costs 5,665,313 470,228 307,379 6,442,920 5,262,847 363,259 344,608 5,970,712 Page 30
Llncs Inspire Limlted Notes to the Financial Statements for the Year Ended 31 March 2025 The monthly average number of persons (including senior management tpam} employed by th? group duririg the year expressed as 8 head count was as follows.. 202S 2024 No Sport, Fitness & Leisur8 Arts and Attractions Libraries Auditorium Central management, mainlenance and Inarketing 283 315 31 47 62 30 47 60 28 452 485 The number of employees whose emoluments fell within the following bands was.. 2025 2024 £60,001- £70,000 £70,001- £80,000 £100,001- £110,OQO The total employee benefils, contract and servic& costs of the key mÉinagem&nl personnel of t'he grnup were £413,32812024 - £390,830). 13 Trustees remuneration arid expens¢s No triistees, nor any persons connected with them, have receiiied any remuneration from the group during th& year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 14 Audltors, remuneratlon 2025 2024 Audit of th8 financial statements 29,531 28,159 Other fees to auditors All other non-audit services 2,435 2,355 £5,250 (2024.. £5,000) of the above amount was remun&ration for the audit of the trading subsidiary 15 Taxatlon The parent company is a registered charity and its adivities are exempt from taxation. The trading subsidiary is 6ubjecl to lax, and corporation tax of £nil is payable for the year ended 31 March 2025. Page 31
Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2025 16 Intangible fixed assets Group Website development Total Cost Al 1 April 2024 At 31 March 2025 17,078 17,Q78 17,078 17,078 Amortlsatlon At 1 April 2024 At 31 March 2025 17,078 17,078 17,078 Net book value At 31 March 2025 At 31 March 2024 Charity Website development Total Cost Al 1 April 2024 At 31 March 2025 17,Q78 17,078 17,078 17,078 Amortisation At 1 April 2024 17,078 17,078 At 31 March 2025 17,078 17,078 Net book value At 31 March 2025 At 31 March 2024 Page 32
Lincs Inspire Limited Notes to the Finaiicial Statements for tha Year Ended 31 March 2025 17 Tanglble fixed assets Group Motor vehlcles Planl and machinery Library books Total Cost At 1 April 2024 Additions Disposals At 31 March 2025 45,477 1,262,301 98,071 1,788,013 3,D95,791 80,704 178,775 (50,402 (50,402 45,477 1,360,372 1,818,315 3,224,164 Depreciation At 1 April 2D24 Charge for the year Eliminated on disposals At 31 March 2025 29,339 5,697 880,760 118,449 1,616,844 2,506,943 78,482 200,628 150,400) 50,400 1,644,926 2,657,171 35,036 977,209 Not book value Al 31 March 2025 10,441 383,163 173,389 566,993 Al 31 March 2024 16,138 4D1,541 171,169 588,848 Charity Motor vehlcles Plant and machinery Library books Total Cost At 1 April 2024 Additions Disposals Al 31 March 2D25 45,477 804,780 83,256 1,788,013 2,638,27D 80,704 163,960 50,402 {50,402 45,477 888,036 1,818 315 2,751,828 Dppreclation At 1 April 2024 Charge for the year Eliminated on disposals At 31 March 2025 29,339 5,697 553,486 18,256 1,616,844 2,199,669 78,482 162,435 50,400) 50,400 35,036 631,742 1,844,926 2,311,704 Net book value Al 31 Marcli 2025 10,441 256,294 173,389 440,124 At 31 March 2024 16,138 251,294 171,169 438,601 Pago 33
Lincs Inspire Limited Notes to the FinanGial Statements for the Year Ended 31 March 2025 18 Fixed asset Investments Group Details of undertaklngs Details of the investments in which the group holds 20 /0 or more of the nominal value ol any class Df share capital are as follows= Proportlon of voting rights and shares held Country of incorporation Undertaking Holding Princlpal activity Subsidiary undertakings Lincs Inspire Venues & Enlerprises (No. 10409947} Provision of veiiue hire and facilities for performing arts United Kingdom Ordinary loo/ Subsldlarles The turnove>r of Linr.s Inspire Venues & Enterprises Limit&d was £2,270,683 whilst expenditure totalled £2,160,035. The profit of Lin¢s Inspire Venues & Enterprises Limit6d was therelore £110,648 and the aggregate amount of apilal and reserves at the and of the period was £187,629. Charity 2025 2024 Shares in group undertakings and participating interests Shares In group undertakings and particlpating interests Subsidiary undertakings Total Cost At 1 April 2024 At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 Page 34
Lincs Inspire Limlted Notes to the Financial Statements for the Year Ended 31 March 2025 19 Stock Group 2025 Charity 2024 2025 2024 Slocks 100,Q22 91,439 81,270 77,523 20 Debtors Group Charlty 2025 2024 2025 2024 Trade debtors Due from group undertakings Prepayments Accrued incorne Other debtors 121,539 77,022 114,545 121,991 68,890 3,202 903 53,815 128,768 51,756 89.826 402 81,144 10,294 1,903 214,880 63,484 98,313 402 239,221 3Q9,531 324,567 21 Cash and cash equival8nts Group 2025 Charlty 2024 2025 2024 Cash at bank 3,349,520 2,899,081 2,686,289 2,326,125 22 Credltors: amounts falling due within one year Group 2025 Charity 2024 2025 2024 Trad6 creditors other taxation and social security Other creditors Pension scheme creditor Accruals Deferred income 278,810 157,418 800 130,729 174,979 801 36,250 338,957 447,079 217,059 157,418 800 69,147 174,980 801 36,250 310,727 18,2Q12 610,107 169,318 373,S81 980,027 90,189 15,916 481,382 1,128,795 Deferred Incorne 2025 2024 Group Deferred income at 1 April 2024 Resources deferred in the period Amounts released from previous periods D&ferred income at year end 447,079 373,881 447,D79) 373,681 203,888 447,079 {203,888 447,079 Page 35
Lincs Inspire Limited Notes to the Financial Statements for the Year Ended 31 March 2025 2025 2024 eharity Dgferred income at 1 April 2024 Resources deferred in the period Amounts released from previous periods Deferred income at year end 18,202 15,916 18,202 16,509 18,202 (16,509} 15,916 18,202 23 Obllgatlons under leases and hire purchase conlracis Operating lease commltments Total futlire minimum lease paymenls under non-cancellable operating leases are as follows.. Group Charlty 2025 2024 2025 2024 Other Within one year BeEell one and five years 8,664 4,165 12,829 8,664 11,933 20,597 8,188 4,165 8,168 11,892 20,060 12,333 24 Provisions Group D6ferred tax relates lo differences b8tW8en accumulat&d depreciation and capital allowances. A provision has been recognised In respect of the historic treatment of National Insurance deductions and payments, Charlty A provision has been rocognised in respect of the historic treatment cf National Insurance deductions and payments. 25 Pension and other schemes Defined contributlon pension scheme The charitable company operates a defined contribulion 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 to the scheme and amounted to £95,759 (2024 - £85,185). Page 36
Lincs Iiispire Limlted Notes to the Financial Statements for the Year Ended 31 March 2025 Defined beiiefit pension sohemes This scheme is a defined benefit scheme that IS ddministered locally by East Riding Pension Fund, with the ass8ts held in separat8 trustee-administered funds. The Charitable company and its employees pay contribulions into a fund as noted below. The agreed contributioii rates for future years are 21.201¢ for employers and beeen 5.50/0 and 9.90/0 for employees. Contributions are cslculated al a level intended to balance the pension liabilities with investment assets. The last relevant review by the Fund's actuary was al 31 March 2022. The actuary projected the resultb forward from this valuation to 31 March 2025 using approxiinate melhods, and allowing for changes in financial assumptions. Reconclliation ofscheme assets and liablllties to assets and Ilabllities recognised The amounts recognis8d in the statement ol financial position are as follows.. 2025 2024 Fair value Df scheme assets Present value of defined benefit obligation t)efined benefit Pension scheme surplusl{defic,it) 8,391,000 {8,391,0001 9,653,000 9,653,000) Deflned benefit obligation Changes in the defined benefit obligation are as follow¢4J. 2025 Present value at start of year Curr6nt service cost Interest cost Actuarial gains and losses Employee contributions Benefits paid Present value at end ofy8ar 9,853,000 212,000 469,QOD (1,777,000) 62,ODO {228,000 8,391,000 Falr value of scheme assets Changes in the fair value of scheme assets are as follows.. 2025 Fair value at start of year Interest income Return on plan assets, excluding amounts included IM interest incomellexpense) Employer ¢ontrSbutions Contributions by scheme participants B&nefils paid Asset ceiling restriction Fair value at end ofy&ar 9,653,000 615,000 30,000 219,000 62,000 1228,000) 1,960,000) 8,391,000 Page 3.1
Lincs Inspire Llmited Notes to the Financial Statements for the Year Ended 31 March 2025 Analysis of assets l-he major categories of scheme assets are as follows.. 2025 2024 Cash and cash equivalents Equity instruments Corporate bonds Property 267,140 10,284,890 1,889,980 934,990 127,5SO 9,567,000 2,040,960 1,020,480 12,756,000 13,357,000 Retum on scheme assets 2025 2024 Return on scherrie assets 115,000 118,OQO The pension schem& has not invested in any of the group's own financial instruments or in properties or other assets used by the group. Princjpal actuarfal assumpdons The principal actuarial assumptions 8t the ststement of financial position date are as follows.. 2025 2024 Discount rate Future salary in¢aseS Future pension increases Post retirement mortality assumptions 5.80 2.75 2.75 4.85 2.75 2.75 2025 Years 21.00 24.00 21.00 25.00 2024 Years 21,QO 24.00 21.00 25.00 Current UK pensioners at retiremenl age - male Current UK pensioners at retirement age - female Future UK pensioners at retirement age - male Future UK pensioners at retirement age - female Page 38
Lincs Insplre Limited Notes to the Financial Statempnts for the Year Ended 31 March 2025 26 Fund8 Gyoup Balance at 1 Aprll 2024 Other Balance at recognised 31 March Transfers gainsl(lossesl 2025 Incoming Resources resources expended Unrestrlcted funds General General fund 2,312,072 10,235,108 (9,770,333) 2,312,072 10,235,108 9,770,333 6,641 153,0001 2,617,206 Total unrestrlcted funds 6,641 153,ODO) 2,617,206 Restricted funds Restoration Levy Fund Heritage Lollery Fund, On Our Street Projecustreets & Their Stories Libraries Connected Digital Society NELC Tier 2 Weighl Management Programme Arts Council England - Libraryon Police and Crime Commissioner- Community Safety Active Humber- Functional Zone Lincs Inspire Wellne55 Hub Capital investment by Sport England and NELC Arts Council England, The Albert room NELC- Holiday Activity Fund The National Lottery Community Granl - 'Aclive Foreverf Project Theatres Trust- Theatre Reopening Fund TNL Active Forever P2 SE Movement fund Joyful access fund Total restricted funds 265,438 67,301 124,2281 308,511 260 995 880 260 727 880 1268} (6,0001 6,000 1,759 20,620 (4.471) (373) 17,535 10,000 {io,ooo) 26,586 (11,656) 14,930 19,399 ,694 111,1361 9,957 28,052 134,123 (135,749) 26,428 4,378 3,D75 (2,298) 5,155 939 (939) {39,187) 110,740 14,250 4,256 71,553 14,250 11,270 1,014 352,688 362,059 L239,932 6,641 481,456 Total funds 1152,000 3,098,662 Page 39
Lincs Inspire Limlted Notes to the Flnanclal Statements for the Year Ended 31 March 2025 Other re¢ognised Balance at 31 9ainsl{losses) March 2024 Balance at I April 2023 Incomiiig resources Resources expended Unrestrlcted lunds General General fund 1,962,307 9,391,7'11 18,907,94 134,QOO 2,312,072 Total unrestricted funds 1,962,307 9,391,711 8,907,946 134,000 2,312,072 Restricted funds Restoration Levy Fund Heritage Lottery Fund, On Our Street Projectistreets & Their Stori&s Libraries Connected Digital Society NELC Tier 2 Weight Management Programme Clinically Extren161y Vulnerable Arts Council England Libraryon Poli¢& and Crime Commissioner- Community Safety Active Humber- Fun¢tional Zone Lincs Inspire Wellness HLib Capital investment by Sport England and NELC Arts Council England, The Albert room NELC - Holiday Activity Fund The National Lottery Community Grant - 'Active Forever, Project Theatres Trust - Theatre Reopening Fund Total restricted funds 230,730 62,591 {27,883} 265,438 (1,532> 2,132 880 3,580 (1,788) (1,137> 260 995 880 16,630 (16,628) 77,350 177,3501 24,OOD (30,0001 (6,DQO) 2,500 {741} 1,759 1D,000 10.000 38,242 (11,6561 26,586 7,623 24,017 {12,241} 19,399 34,414 168,352 1174,714) 28,052 50,116 2,948 (48,686} 4,378 1,879 9401 939 468,464 287,988 {403,764 352,688 Total funds 2,430,771 9,679,699 9,311,710) {134,000 2,S64,760 Page 40
Lincs Inspire Limltod Notes to the Financial Statements for the Year Ended 31 March 2025 Charity 8alance at 1 Aprll 2024 Other Balance at recognfjsed 31 March Transf&rs gainsl{losses) 2025 Incoming resources Resoiirces expended Unrestrlcted funds General General fund 2,473,744 9,005,453 8,574,322 373 153,000 2,752,248 Total unrestricted funds 2,473,744 9,005,453 8,514,322 15300D 373 L, a 2,752,248 Restricted funds H8ritage Lottery Fund streets and their stories fund Libraries C'onnected Arts Council England, The Albert room Digital Society AC Libraryon PCC - Community Safety Lincs Inspire Wellness Hub Capital inv69tment by Sport England and NELC The National Lottery Community Grant- 'Adive Forevev Project NELC - Holiday Activity Fund NELC - Tier 2 Weight Management Pragramme Active Humber- Functional Zone 'rNL Active Forever P2 SE Movement fund 260 995 260 727 12681 19,399 880 {s,000) 1,694 {11,138) 9,957 880 6,000 20,620 (4,471) (373) 17.535 26,586 (11,656) 14,930 4,378 12,297) 5,156 24,707 115,823 (116,994) 23,536 10,000 (10,000) (39,187} 110,740 71,553 14,250 Total restrlcted funds 82,966 272,202 196,009 (373 158,786 Total funds 2,556,710 9,277,855 8,770,331) (153,000) 2,911,034 Page 41
Lincs Inspire Llmlted Notes to the Financlal Statements for the Year Ended 31 March 2025 Other recognised Balance at 31 gainslllosses) March 2024 Balanc8 at I April 2023 Incoming resources Resources expendod Unrestrlcted funds General General fund 2,145,518 8,493,802 (8,031,576 {8,031,576 134,000 2,473,744 Total unrestricted funds 2,145,518 8,493,802 134,OOQI 2,473,744 Restrictod funds Heritage Lottery Fund streets and their stories fund Libraries Connected Arts Council England, The Albert room Digital Society AC Libraryon PCC - Community Safety Lincs Inspire Wellness Hub Capital investment by Sport Englaiid and NELC The National Lottery Community Grant - 'Active Fove1 Project NELC - Holiday Activity Fund NELC - Tier 2 Weight Management Programme Clinically Extremely Vulnerable Active Humber- Functional Zone (1,532) 2,132 3.580 (1,7881 (1,137) 260 995 7,623 880 24,017 (12,2411 19,399 880 (6,000) 1,759 24,000 2,500 (30,000) {741) 38,242 {11,658} 28,58 5Q,116 2,948 (48,686) 4,378 29,S94 118,623 (123,8101 24,707 16,830 116,6281 77,350 177,3501 10,000 10,000 Total restricted funds 231,135 175,668 323,837 82,966 Total funds 2,376,653 8,669,470 8,355,413 134,0001 2,556,710 Page 42
Lincs Insplre Limited Notes to the Financial Statements for the Year Ended 31 March 2025 The specrfic purposes for which the funds are to be 8pplied are as follc)ws'. Restoration Levy - funds arising from 8 £1 ticket charge applied at Grimsby Auditorium with funds reinvested ID improve customer comfort and enjoyment. Libraries Connected- programme of complimentary events in statutory libraries. Heritage Lottery Funding {On Our Street Projecllslreets & Their Stories) community hased local historylremii)iscence workshops and creative activities. National Lottery Community Fund 'Active Forever, supported capital and revenue inveslmenl to develop a Creative Hub to support community engagement post Covid 19. Lincs Inspire Wellness Hub includes capital grant furiding Contributions frorri Sport England and North East Lincolnshire Council, enabling the development of a new assisted exercise facility. Theatres Trust- Theatre Reopening Fund - a contribution to automatic door er)try at the Grimsby Auclitorium. 'rier 2 Weight Management Programme- Public Health Funded programmes through NELC I'o support slaff training and resource material. Clinically Extremely Vulnerable Fund to support those with specific medical conditions whr) would be particularly vulnerable if. they coiitracled COVID-19. Arts Council (Albert Room) Supporting people dt all slaqes of their lives lo develop and increase their participation in a range of cultural activities such as creative writing, drama, sewing, spoken word events etc. Active Humber {Funclional Zone) To support aclivity for those on low incomes, with disability & long-term heatth 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, Librsryon Project to enable statutory duty public libraries to r88Gh. connect with and help Iheir audiences in new and belter ways. Police and Crime Commissioner, Community Safety Gr8nt- Funding for KGV Skate park. TNL Active Forever P2 - Fund was awarded to continue support the local Community and encourage participation in activity sessions. In addition includes outreach wprk with GP'slm8dical professionals, community organisatioiis and local residents to support referrals and recommendationts. SE Movement Und Sport England's Moveinent Fund to develop and pilot a hybrid version gf Active Foi'ever, which Combines healthy weight management with assisted exercise, SD targeling people with an underlying health conclition that is Impacting their ability to lose weight. Joyful Access Fund- To support schools and not-for-profit organisdtions lo attend events. Active Lincolnsliire Wonder Walks- Funding to arrange & support 2 walks within our commuriity. Holiday Activity Fund - Funding for activities and meals during the school holidays for low incDm@ families within North East Lincolnsh ire. NEL Reshape Grant - Capital support from Government fund adminislered by NFI.C to assisl with business restarts following COVID lockdown periods. Page 43
Lincs Inspire Limited Notes to the Financlal Statements for the Year Ended 31 March 2025 27 Aiialysls of net assets between funds GroLIP Unrestricted funds General Total funds at 31 March 2025 Restricted funds Tangible fixed ass6ts Current essets Current liabilities Provisions 469,26e 3,280,693 {980,027) 152,726} 97,727 383,729 566,993 3,664,422 (980,0271 152,7261 3,098,662 Total net assets 2,617,2Q6 481,456 Unrestricted funds General Total funds at 31 MarGh 2024 Restricted funds Tangible fixed assets Current assets Cuirenl liabilit198 Provisions 4S0,650 3,005,251 11,128,795) {25,0341 2,312,072 128,198 224,490 588,848 3,229,741 (1,128,795) 125,034 2,664,760 Total riet assets 352,688 Charity Unrestricted funds General Total fun(Is at 31 March 2025 Restricted funds Tangible fixed assets Fixed asset investments Current assets Current liabilities Provisions 403,399 36,725 440,124 2,955,029 (481,382) (124,799} 2,752,248 122,061 3,077,090 (481,382) (124,799 2,911,034 Total net assets 158,786 Unrestrlcted funds Total funds at 31 March 2024 Restrl¢ted funds General 'Tanglble fixed assats Fixed asset investments Current assets Current liabilities 385,499 53,102 438,601 2,698,351 610,107 29,884 2,728,215 610,107 Total net assets 2,473,744 82,966 2,556,710 Page 44
Lincs Inspire Limlted Notes to the Financial Statements for the Year Ended 31 March 2025 28 Related party transactions Group During the year the group made the following related party transactions,, Sylvester Keal Llmlted (l K8al is a trustee of Lincs Inspire Limited as well as a director of Sylvester Koal Limited) During the year there has been purchases made of £4,778.91 {2024'. £5,448.46) relating to hygiene products and commercial kitchen design equipment, installation and repaii's. Al the balance sheet d¢?te the amount due tolfrom to Sylvester Keal Limited was £Nil (2024 - £49). Charlty During the year the charity made the following re5ated party transactions.. Llncs Inspire Venues & Enterprises Limited (100 /0 owned subsidiary of Lincs Inspire Limited) Recharges made from the subsidiary to the parent totalled £3-15,210 (2024.. £466,471). Recharges made from the parent to the subsidiary totalled £810,518 {2024'. £873,509}. Al the balance sheet date thg amount due from Lin¢s Inspire Venues & Enterprises Limited was £121,991 {2024 - £128,768}. Page 45