**REGISTERED COMPANY NUMBER: CEO22564 (England and Wales) REGISTERED CHARITY NUMBER: 1190447**
## **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 FOR LOWESTOFT LIONS CLUB (CIO)**
Juler Tooke Lothing House Quay View Business Park Barnards Way Lowestoft Suffolk NR32 2HD
**LOWESTOFT LIONS CLUB (CIO)**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
||Page|
|---|---|
|Report of the Trustees|1 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 9|
|Detailed Statement of Financial Activities|10|
**LOWESTOFT LIONS CLUB (CIO)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
**REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** CEO22564 (England and Wales)
**Registered Charity number** 1190447
## **Registered office**
13 Beachman's Court Wilson Road Lowestoft Suffolk NR33 0HZ
## **Trustees**
J K Swatton - resigned 18.7.23 R B Smith T H Waters - resigned 18.7.23 E K Moore - appointed 18.7.23 M L Cook - appointed 1.7.23 D L J Ward D K Fisk T Haworth - appointed 1.11.22
## **Independent examiner**
Juler Tooke Lothing House Quay View Business Park Barnards Way Lowestoft Suffolk NR32 2HD
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Recruitment and appointment of new trustees**
Trustees are nominated by the membership and elected by vote at the Annual General Meeting unless a sudden vacancy needs to be filled in which case an Extraordinary General Meeting would be called. There is a minimum requirement of three trustees. A trustee may remain in office until they either leave the Club or resign the trusteeship.
The board of Directors is made up of the six specific directors and the immediate past three presidents.
Office Holders are elected annually but directors normally serve a two year term in office.
The trustees and directors are elected based on their knowledge of the charity and their ability to perform the role. They also receive appropriate ongoing training.
Page 1
**LOWESTOFT LIONS CLUB (CIO)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Organisational structure**
Matters for the attention of the charity are channelled from the membership up to the Board and Trustees. Decisions om any such matters arising will then be passed down for vote if required.
The board meet as outlined above to discuss the strategic planning and operational needs of the charity. Decisions are taken by recourse to majority vote. All matters of a significant financial nature are then placed before the membership for approval by vote.
Whilst the club is run under a board of directors, all major decisions and financial expenditure are democratically voted upon by all Members at full Club Meetings. Club Meetings continue to be held on the 1st and 3rd Tuesday of each month.
## **Risk management**
The trustees have an implicit duty to safeguard the Charity against perceived risks to its ability to continue and how it should conduct itself when dealing with the public. No formal risk policy is deemed appropriate but each proposed event is insured against anticipated risks of litigation. The ability to continue as a going concern is translated into a consideration of the levels of reserves maintained. A watchful eye is kept by the trustees on funds flow and the success of each fundraising event is carefully reviewed to ensure lessons are learned and steps taken to reduce the risks of any poor outcomes. Sadly no protection can be bought or insured against weather which plays a major part in the success of the larger events such as the annual Gala.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and activities**
The objectives of the charity are the continued assistance of those members of the community, whether individuals or groups, who are considered to be in need or socially deprived.
The trustees, officers and directors have taken due regard to the guidance published by the charities Commission on public benefit. It is considered that a public benefit is provided by providing relief of poverty in the local area, national and overseas aid towards famine relief to children, the elderly and individuals with disabilities. By the way of grants to help them better their lives and also to provide human resources assistance.
## **ACHIEVEMENT AND PERFORMANCE**
## **Achievements and performance**
The bulk of the money raised goes back into the community through local organisations and requests from individuals covering all ages. As usual those with various disabilities have received particular attention. Our member's, all of whom are volunteers and supported by wives, put in many hours of unpaid work to enable the aims of Lions to continue to be met.
## **Fundraising activities**
The accounts for the year ended 30th June 2022 show gross income of £50,520 from our various fund raising events. The Club have been able to continue with many activities which had been curtailed by the COVID pandemic and the Club now looks to restore funds to normal levels whilst still supporting beneficiaries in the normal ways. Costs relating to these funds and administering the charity amounted to £1,996 leaving a surplus of £48,524 before charitable distributions. During the year £38,196 was distributed to the various beneficiaries.
## **FINANCIAL REVIEW**
## **Reserves policy**
It is the trustees' policy to maintain adequate cash reserves to cover fundraising costs in the event of poor turnout and declining income thereby ensuring funds are available for welfare needs. Transfers between accounts are made as deemed necessary by the trustees and officers to maintain appropriate balances to undertake the work of the charity.
The trustees consider that the Club remains in a strong financial position with sufficient cash balances to enable work within the community to continue satisfactorily.
Page 2
**LOWESTOFT LIONS CLUB (CIO)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023**
## **FINANCIAL REVIEW Volunteers**
The trustees would like to express their gratitude to all members whose efforts in fundraising, administration and distribution enable the Charity to continue its good work. it would be difficult to continue at the current level of income without the assistance of this unpaid network of support.
Approved by order of the board of trustees on 15 August 2023 and signed on its behalf by:
D L J Ward - Trustee
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LOWESTOFT LIONS CLUB (CIO)**
I report on the accounts of the company for the year ended 30 June 2023, which are set out on pages five to nine.
## **Responsibilities and basis of report**
As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independant examination, I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
1. that accounting records were not kept as required by section 386 of the Companies Act 2006; or
2. that the accounts do not accord with those records; or
3. that the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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; or
4. that there is further information needed for a proper understanding of the accounts.
## **Independent examiner's statement**
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Peter Boardman MAAT Juler Tooke Lothing House Quay View Business Park Barnards Way Lowestoft Suffolk NR32 2HD
15 August 2023
Page 4
## **LOWESTOFT LIONS CLUB (CIO)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023**
|Unrestricted
Restricted
fund
fund
Notes
£
£
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Voluntary income
1,065
17,565
Activities for generating funds
2
-
31,860
Investment income
3
30
-
**Total incoming resources**
1,095
49,425
**RESOURCES EXPENDED**
**Costs of generating funds**
Fundraising trading: cost of goods sold and other
costs
1,636
-
**Charitable activities**
Distributed to Individuals
-
-
Distributed to Institutions
-
-
FUNDRAISING
-
38,196
**Governance costs**
360
-
**Total resources expended**
1,996
38,196
**NET INCOMING/(OUTGOING)**
**RESOURCES**
(901)
11,229
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
34,150
4,631
**TOTAL FUNDS CARRIED FORWARD**
33,249
15,860|30.6.23
Total
funds
£
18,630
31,860
30
50,520
1,636
-
-
38,196
360
40,192
10,328
38,781
49,109|30.6.22
Total
funds
£
7,353
12,093
-|
|---|---|---|
|||19,446
3,044
4,646
10,399
-
360|
|||18,449|
|||997
37,784|
|||38,781|
The notes form part of these financial statements
Page 5
## **LOWESTOFT LIONS CLUB (CIO)**
## **BALANCE SHEET AT 30 JUNE 2023**
|Unrestricted
Restricted
fund
fund
Notes
£
£
**CURRENT ASSETS**
Cash at bank
34,049
15,860
**CREDITORS**
Amounts falling due within one year
6
(800)
-
**NET CURRENT ASSETS**
33,249
15,860
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
33,249
15,860
**NET ASSETS**
33,249
15,860
**FUNDS**
7
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|30.6.23
Total
funds
£
49,909
(800)
49,109
49,109
49,109
33,249
15,860
49,109|30.6.22
Total
funds
£
39,141
(360)
38,781
38,781
38,781
34,150
4,631
38,781|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The financial statements were approved by the Board of Trustees on 15 August 2023 and were signed on its behalf by:
-Trustee
The notes form part of these financial statements
Page 6
**LOWESTOFT LIONS CLUB (CIO)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 30 JUNE 2023**
## **1. ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Taxation**
The charity is exempt from corporation 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.
## **2. ACTIVITIES FOR GENERATING FUNDS**
|Fundraising events
**3.**
**INVESTMENT INCOME**
Deposit account interest|30.6.23
£
31,860
30.6.23
£
30|30.6.22
£
12,093|
|---|---|---|
|||30.6.22
£
-|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022 .
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022 .
## **5. PRIOR YEAR ADJUSTMENT**
All entries in Prior Year Adjustments reflect the transfer of balances from the previous Charity's funds upon the change to a CIO.
Page 7
**LOWESTOFT LIONS CLUB (CIO)**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 JUNE 2023**
## **6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|||30.6.23|30.6.22|
|---|---|---|---|
|||£|£|
||Trade creditors|360|360|
||Other creditors|440|-|
|||800|360|
|**7.**|**MOVEMENT IN FUNDS**|||
|||Net movement||
|---|---|---|---|
||At 1.7.22|in funds|At 30.6.23|
||£|£|£|
|**Unrestricted funds**||||
|General fund|34,150|(901)|33,249|
|**Restricted funds**||||
|Restricted Fund 1|4,631|11,229|15,860|
|**TOTAL FUNDS**|38,781|10,328|49,109|
|Net movement in funds, included in the above are as follows:||||
||Incoming|Resources|Movement in|
||resources|expended|funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|1,095|(1,996)|(901)|
|**Restricted funds**||||
|Restricted Fund 1|49,425|(38,196)|11,229|
|**TOTAL FUNDS**|50,520|(40,192)|10,328|
|**Comparatives for movement in funds**||||
|||Net movement||
||At 1.7.21|in funds|At 30.6.22|
||£|£|£|
|**Unrestricted Funds**||||
|General fund|33,153|997|34,150|
|**Restricted Funds**||||
|Restricted Fund 1|4,631|-|4,631|
|**TOTAL FUNDS**|37,784|997|38,781|
Page 8
**LOWESTOFT LIONS CLUB (CIO)**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 JUNE 2023**
## **7. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement in|
|---|---|---|---|
||resources|expended|funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|19,446|(18,449)|997|
|**TOTAL FUNDS**|19,446|(18,449)|997|
|||||
A current year 12 months and prior year 12 months combined position is as follows:
|Net movement
At 1.7.21
in funds
At
£
£
**Unrestricted funds**
General fund
33,153
96
**Restricted funds**
Restricted Fund 1
4,631
11,229
**TOTAL FUNDS**
37,784
11,325|30.6.23
£
33,249
15,860|
|---|---|
||49,109|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement in|
|---|---|---|---|
||resources|expended|funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|20,541|(20,445)|96|
|**Restricted funds**||||
|Restricted Fund 1|49,425|(38,196)|11,229|
|**TOTAL FUNDS**|69,966|(58,641)|11,325|
Page 9
**LOWESTOFT LIONS CLUB (CIO)**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023**
|**INCOMING RESOURCES**
**Voluntary income**
Gifts
Donations
Subscriptions
**Activities for generating funds**
Fundraising events
**Investment income**
Deposit account interest
**Total incoming resources**
**RESOURCES EXPENDED**
**Fundraising trading: cost of goods sold and other costs**
Administration costs
Lion international fund
**Charitable activities**
Fundraising expenses
Distributed to Beneficiaries
**Governance costs**
Accountancy
**Total resources expended**
**Net income**|30.6.23
£
-
17,565
1,065
18,630
31,860
30
50,520
265
1,371
1,636
22,109
16,087
38,196
360
40,192
10,328|30.6.22
£
1
4,812
2,540|
|---|---|---|
|||7,353
12,093
-|
|||19,446
2,072
972|
|||3,044
2,299
12,746|
|||15,045
360|
|||18,449|
|||997|
This page does not form part of the statutory financial statements
Page 10