**REGISTERED CHARITY NUMBER: 1186995** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **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 2024** ||**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 2024** The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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 charity has maintained and managed the Lytham Institute building and has ongoing arrangements with several community groups and two tenants for use and / or occupation of the premises or part of. Activity has returned post pandemic with additional users sourced after a campaign to promote the community use element of the asset, The Hewitt Lecture Room. The two tenants occupying first floor space remain in situ on the same terms and conditions. The trustee has had regard to Charity Commission guidance on public benefit. Several community groups have an involvement in the use of the building historically although its future use is to be the subject of consultation based on the revised objects to be set by the Charity Commission, at the time of producing this statement the Charity Commission had not provided the final draft of the objects for the charity. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** Lancashire County Council formally surrendered their user rights to occupy part of Lytham Institute building on 30 July 2020. Following the library/registrar operator ceasing its activities from the building use has been limited to the following community activities: - yoga - slimming club - music society / judo - dog agility classes - tenants renting first floor space ## **FINANCIAL REVIEW** ## **Financial position** Fylde Borough Council is the sole funder of the Charity, excluding any income from hire of rooms. ## **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 has invited the Charity Commission to make a scheme to change its trusts to amend its charitable objects. Following the making of such a scheme, the trustee expects to make changes to its trusts to (inter alia) enable it to appoint additional or an alternative trustee. Page 1 ## **THE LYTHAM INSTITUTE** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** ## **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 .............................................28 January 2025 and signed on its behalf by: ..........................................................on behalf of Fylde Borough Council, Trustee 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 2024. ## **Responsibilities and basis of report** As the charity trustees of the Trust 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 Trust'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 Trust 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 Rushtons Chartered Accountants Shorrock House 1 Faraday Court Fulwood Preston Lancashire PR2 9NB Date: .............................................28 January 2025 Page 3 ## **THE LYTHAM INSTITUTE** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** |2024
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Other trading activities
2
63,401
**EXPENDITURE ON**
Raising funds
3
63,401
**NET INCOME**
-
**RECONCILIATION OF FUNDS**
Total funds brought forward
-
**TOTAL FUNDS CARRIED FORWARD**
-|2023
Total
funds
£
48,829| |---|---| ||48,829| ||-
-| ||-| The notes form part of these financial statements Page 4 ## **THE LYTHAM INSTITUTE** ## **BALANCE SHEET 31 MARCH 2024** |2024
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**
-|2023
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: 28 January 2025 .............................................on behalf of Fylde Borough Council, Trustee The notes form part of these financial statements Page 5 **THE LYTHAM INSTITUTE** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **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 2024** ## **2. OTHER TRADING ACTIVITIES** |Room rental
Funded by Fylde Council
**RAISING FUNDS**
**Raising donations and legacies**
Staff costs
Rates and water
Insurance
Light and heat
Repairs and maintenance
Support costs|2024
£
7,312
56,089
63,401
2024
£
4,183
6,700
2,917
10,821
21,736
17,044
63,401|2023
£
7,890
40,939| |---|---|---| |||48,829| |||2023
£
3,210
6,165
1,944
5,157
10,639
21,714| |||48,829| ## **3. RAISING FUNDS** ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. ## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||Unrestricted| |---|---| ||fund| ||£| |**INCOME AND ENDOWMENTS FROM**|| |Other trading activities|48,829| |**EXPENDITURE ON**|| |Raising funds|48,829| **NET INCOME** - Page 7 continued... ## **THE LYTHAM INSTITUTE** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** |**5.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**| |---|---|---| |||Unrestricted| |||fund| |||£| ||**TOTAL FUNDS CARRIED**|| ||**FORWARD**|-| |**6.**|**TANGIBLE FIXED ASSETS**|| |||Freehold| |||property| |||£| ||**COST**|| ||At 1 April 2023 and 31 March 2024|1,000| ||**NET BOOK VALUE**|| ||At 31 March 2024|1,000| ||At 31 March 2023|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 2024** |**7.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||| |---|---|---|---|---|---| |||||2024|2023| |||||£|£| ||Other creditors|||1,000|1,000| |**8.**|**MOVEMENT IN FUNDS**||||| |||||Net|| |||||movement|At| |||At 1.4.23||in funds|31.3.24| |||£||£|£| ||**TOTAL FUNDS**||-|-|-| ||Net movement in funds, included in the above are as follows:||||| |||Incoming||Resources|Movement| |||resources||expended|in funds| |||£||£|£| ||**Unrestricted funds**||||| ||General fund|63,401||(63,401)|-| ||**TOTAL FUNDS**|63,401||(63,401)|-| ## **9. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2024. Page 9 ## **THE LYTHAM INSTITUTE** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** |**INCOME AND ENDOWMENTS**
**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
**Support costs**
**Management**
Wages
**Finance**
Wages
**Governance costs**
Wages
Social security
Accountancy and legal fees
Total resources expended
**Net income**|2024
£
7,312
56,089
63,401
63,401
4,183
6,700
2,917
10,821
21,736
46,357
8,172
1,475
6,450
17
930
7,397
63,401
-|2023
£
7,890
40,939| |---|---|---| |||48,829| |||48,829
3,210
6,165
1,944
5,157
10,639| |||27,115
12,879
2,004
5,916
-
915| |||6,831| |||48,829| |||-| This page does not form part of the statutory financial statements Page 10