**REGISTERED CHARITY NUMBER: 1186995** **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** **FOR** ## **THE LYTHAM INSTITUTE** Rushtons Chartered Accountants Shorrock House 1 Faraday Court Fulwood Preston Lancashire PR2 9NB **THE LYTHAM INSTITUTE** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ||**Page**| |---|---| |**Report of the Trustees**|1 to 2| |**Independent Examiner's Report**|3| |**Statement of Financial Activities**|4| |**Balance Sheet**|5| |**Notes to the Financial Statements**|6 to 9| |**Detailed Statement of Financial Activities**|10| ## **THE LYTHAM INSTITUTE** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** To maintain Lytham Institute for public use under the provisions of the Public Libraries Acts 1892 - 1901 and the Museum and Gymnasiums Act 1891 or any Acts re-enacting or amending the said Acts or any of them. The objects remain under review by the Charity Commission following consultation in the spring of 2022. The Charity has maintained and managed the Lytham Institute building and has ongoing arrangements with several community groups. Lytham Heritage Group and the Civic Society occupy rented space on the first floor of the premises. The trustee has had regard to Charity Commission guidance on public benefit. Several community groups, including the Heritage Group and the Civic Society, have an involvement in the use of the building historically. The use is based on a paid for hire service, any income is not donations. The Charity has invited the Charity Commission to make a scheme to amend its charitable objects. Following the making of a scheme, the Charity will review its administrative arrangements to allow (inter alia) for the appointment of further trustees. ## **ACHIEVEMENT AND PERFORMANCE Charitable activities** Use of the building has been limited to the following community activities until the objects can be finalised through the Charity Commission: - yoga - slimming club - music society / judo - dog agility classes - Lytham Heritage Group storage - Lytham Civic Society office Feedback from all users has been positive with the Charity providing a service valuable to their service delivery. ## **FINANCIAL REVIEW** ## **Financial position** Fylde Borough Council is the sole funder of the Charity, excluding any income from hire of rooms. Page 1 ## **THE LYTHAM INSTITUTE** ## **REPORT OF THE TRUSTEES** **FOR THE YEAR ENDED 31 MARCH 2023** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, Indenture dated 29 September 1917 and constitutes an unincorporated charity. No trustees have been appointed since 1917. The sole trustee will review its trusts to (inter alia) enable it to appoint additional trustees when the objects are finalised. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1186995 **Principal address** Fylde Council Town Hall Lytham St Annes Lancashire FY8 1LW ## **Trustees** Fylde Borough Council ## **Independent Examiner** Rushtons Chartered Accountants Shorrock House 1 Faraday Court Fulwood Preston Lancashire PR2 9NB Approved by order of the board of trustees on ............................................. and signed on its behalf by: .......................................................... Head of Governance Page 2 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LYTHAM INSTITUTE** ## **Independent examiner's report to the trustees of The Lytham Institute** I report to the charity trustees on my examination of the accounts of The Lytham Institute (the Trust) for the year ended 31 March 2023. ## **Responsibilities and basis of report** As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the charity’s accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Adam Calvert ACA Rushtons Chartered Accountants Shorrock House 1 Faraday Court Fulwood Preston Lancashire PR2 9NB Date: ............................................. Page 3 ## **THE LYTHAM INSTITUTE** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** |2023
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
-
Other trading activities
2
48,829
**Total**
48,829
**EXPENDITURE ON**
Raising funds
Governance costs
3
41,998
6,831
Total Resources expended
48,829
**RECONCILIATION OF FUNDS**
Total funds brought forward
-
**TOTAL FUNDS CARRIED FORWARD**
-|2022
Total
funds
£
12,000
29,027
41,027
36,614
4,413
41,027
-
-| |---|---| The notes form part of these financial statements Page 4 ## **THE LYTHAM INSTITUTE** ## **BALANCE SHEET 31 MARCH 2023** |2023
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
6
1,000
**CREDITORS**
Amounts falling due within one year
7
(1,000)
**NET CURRENT ASSETS**
(1,000)
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
-
**NET ASSETS**
-
**FUNDS**
8
**TOTAL FUNDS**
-|2022
Total
funds
£
1,000
(1,000)
(1,000)
-
-
-| |---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. Chief Financial Officer The notes form part of these financial statements Page 5 **THE LYTHAM INSTITUTE** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold Property - straight line basis over a 50 year useful life as estimated by the valuer. Further details relating to depreciation of the Institute building are contained in note 6 below. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 6 continued... ## **THE LYTHAM INSTITUTE** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** ## **2. OTHER TRADING ACTIVITIES** |Room rental
Funded by Fylde Council|2023
£
7,890
40,939
48,829|2022
£
4,556
24,471
29,027| |---|---|---| ## **3. RAISING FUNDS** ## **Raising donations and legacies** |Staff costs
Rates and water
Insurance
Light and heat
Repairs and maintenance
Support costs|2023
£
3,210
6,165
1,944
5,157
10,639
14,883
41,998|2022
£
2,096
8,264
1,744
3,259
5,444
15,807
36,614| |---|---|---| ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. ## **5. STAFF COSTS** 2023 2022 £ £ Wages and salaries 24,009 21,466 No employees received emoluments in excess of £60,000. The Charity itself does not directly employ financial, legal, property services or management staff to carry out its activities. In lieu of that, those duties have fallen on the staff employed by Fylde Council as sole Trustee who carry those duties in good faith in the interests of the Trust. The figure of £24,009 comprises the total allocation of staff costs to the Trust including direct agency staff, overtime, and Fylde Council employees who have carried out duties attributable to the Trust in support of its operations. Page 7 continued... ## **THE LYTHAM INSTITUTE** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** ## **6. TANGIBLE FIXED ASSETS** |**TANGIBLE FIXED ASSETS**|| |---|---| ||Freehold| ||property| ||£| |**COST**|| |At 1 April 2022 and 31 March 2023|1,000| |**NET BOOK VALUE**|| |At 31 March 2023|1,000| |At 31 March 2022|1,000| In December 2019 a comprehensive Building and Asset Survey was carried out on the Lytham Institute by a specialist firm of Chartered Surveyors, Jacobs. The survey included two cost exercises, both of which exclude inflation and professional fees: - a high-level benchmarking exercise with data taken from BCIS for buildings in similar use within the Fylde/Lancashire area. This identified a mean rehabilitation / conversion of public community centre and LA rooms index of £1,773m2 which when applied to the Gross Internal Floor Area of the building of 953m2 gave a benchmark cost estimate of £1.690m; and - a cost estimate build-up of the defects identified in the building survey in the value of £1.157m Subsequently in January 2020 Jacobs carried out a separate asset valuation which, in light of the Building and Asset Survey referred to above, valued the institute building at a nominal value of £1,000. Given that the asset is held at this nominal de-minimis level, it is the intention not to apply an annual depreciation charge. Page 8 continued... ## **THE LYTHAM INSTITUTE** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** |**7.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |---|---|---|---|---|---| |||||2023|2022| |||||£|£| ||Other creditors|||1,000|1,000| |**8.**|**MOVEMENT IN FUNDS**||||| |||||Net|| |||||movement|At| |||At 1.4.22||in funds|31.3.23| |||£||£|£| ||**TOTAL FUNDS**||-|-|-| ||Net movement in funds, included in the above are as follows:||||| |||Incoming||Resources|Movement| |||resources||expended|in funds| |||£||£|£| ||**Unrestricted funds**||||| ||General fund|48,829||(48,829)|-| ||**TOTAL FUNDS**|48,829||(48,829)|-| Page 9 ## **THE LYTHAM INSTITUTE** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Grants
**Other trading activities**
Room rental
Funded by Fylde Council
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Agency staff
Rates and water
Insurance
Light and heat
Repairs and maintenance
**Governance costs**
Wages
Accountancy
**Support costs**
**Management**
Wages
**Finance**
Wages
Total resources expended
**Net income**|2023
£
-
7,890
40,939
48,829
48,829
3,210
6,165
1,944
5,157
10,639
27,115
5,916
915
6,831
12,879
2,004
48,829
-|2022
£
12,000
4,556
24,471
29,027
41,027
2,096
8,264
1,744
3,259
5,444
20,807
3,563
850
4,413
13,921
1,886
41,027
-| |---|---|---| This page does not form part of the statutory financial statements Page 10