Independent Examin¢rs Yeport to the tryste¢s thè ullaudlted finslltlal st#temehts of Ulvtrston Towtt IAnds for th* Ilttantill ye&r to 31st MArch 2025 I rEDnrt tn tht tniqte&£ nn my examinatinn nf the fin8ncial ststernents tsf IIlver%ton Town Lands (the Trust) for the financial year ellded 31st March 2025. Respoa5ibilitie5 and basis of report As the charity trust¢¢s of th¢ Trust you are re5ix>n5ible for the preparation of the finan¢lal statem¢nts in atcordancc with the l¢4¥iJ¥iJ￿Ijus of ili¢ c11￿J￿0 A¢t 2011 Idi¢ Act}. I report it2 r¢sp¢d of my ¢xamination of the Trust's fjnanckal statements eoTried out under seaion 145 of the 2011 Act and in carrying out my examit)ation I have followed all the applicable Directions givetl by the Charity Commission und¢r section 14515llb) of tlle A¢L I have cotnpleted tny Cxatnination. l confim) that Do material matters have come to my attentLOll in Conn￿10￿ with th¢ examination giving me cause to believe that in any mAierial r¢speci: tenunting records were not kept in respect of the Trnst &$ required by section 130 of th¢ A¢L or the financial statrm¢nts do not accord with those records.. or th¢ finan¢ia] statements do not comply with the applicable requi￿rne￿ts roncerning the form and content of fitwi¢ial statements s¢t out in the Charities (Accounts and Report51 Regulation5 2008 other than any T¢quir¢tn¢nt th&t the finAnCiai gtAtemtnig give a true 2nd fair view which is not 4 rnotter eoJJ#idered part of on itLdepende#i ¢xaMin￿10n. I have no concern5 and have come across no other matters in connectien with the examination to which att¢ittion should be drdwll in this respect in orderto report a proper undeT5tttMiing of th¢ finan¢io1 stat¢menis to be reached. J F Hornby. FCA Th¢ Institute of Chartered AccountaThts in England & Wales JFHomby&Co Chartered awount¥nts TtL¢ Tower Daliongate Business Centr¢ Daltongate Ulvers¢o Cutnbria LA12 7AJ Dateil: 13th Auellst 2025 ULVERSTON TOWN LANDS Annual Re ort for Year to 31st March 2025 Name Address and Constitutlon Ulverston Town Lands whose principal or registered address is that of their Secretary and Solicitors. Hartjackson and Sons, at 8-10 New Market Street, Ulverston, Cumbria LA12 7LW is a registered charity, number 215779 and constituted by a Charity Commission scheme dated and sealed by order of the Charlty Commissioners on the 20th day of August 1974 as amended by a further order by the Commissioners dated and sealed on the 28th day of August 1981 (the Charity Commission Scheme). The Charity Commission Scheme is administered by nine Trustees. Six of those Trustees (the Nominated Trustees) are appointed by the Ulverston Town Council. The Nominated Trustees may be, but do not have to be, members of Ulverston Town Councll. The remaining three Trustees (the Co-opted Trustees) are appointed by the Trustees themselves. The Trustees at 31st March 2025 were as follows:_ Trustees Nomlnated b Ulver5ton Town Council Mrs Janet Eileen Hancock of The Town House, 16 Queen Street, Ulverston, Cumbria, LA12 th 7AR (Appointed to 13 May 20271. Mrs Margaret Hornby of 26 Meeting House Lane. Ulverston, Cumbria, LA12 9ND. (Appolnted to 21st November 20271. Councillor Paul Graham Smith of 9 Union Lane, Ulverston, Cumbria, LA12 7BU. (Appointed to 3rd September 20281. Mrs Shirley-Anne Wilson of 7 Parkfield 5warthmoor Ulverston Cumbria LA12 OHW {Appointed to 3, September 20281 Mr Colln Plckthall of 25 Fountain Street, Ulverston, Cumbria, LA12 7EQ (appointed to 8 th September 20281 Councillor Thomas Denney Irving of 11 Garden Terrace Ulver5ton Cumbria LA12 7DA (appointed to 23rd May 20261 Co-o ed Trustees Mrs Jacqueline Hool of 4 Dorchester Crescent, Ulverston, Cumbria, LA12 9LP. (Appointed to 25 September 2029}. Mrs Doreen Mary Fell of Castle Hill Farm, Pennington. Near Ulverston, Cumbria, LA12 7NX. (Appointed to 28th June 20271. Mr. Anthony Roy Bryson of 8 Back Lane, Ulver5ton, Cumbria, LA12 7EJ. (Appointed to 28th June 20271. Chairman Mr. A.R. Bryson was appointed and acted as Chairman ofthe Trust throughout the year. Secreta and Solicitors Messrs. Hart Jackson and Sons, Solicitors of 8-10 New Market Street, Ulverston, Cumbria, LA12 7LW, ITelephone No: 01229-5832911 acting through Mrs Naomi Marczak a Partner in the Firm, were the Trust's main agents and adviser5, acting as its Secretary, Clerk, Correspondent, Solicitors and Rent Collectors. Land A ent5 H&H Land and Estates, Land Agents of 36 Finkle Street, Kendal, Cumbria LA9 4AB (Telephone No- 01539-7213751 actingthrough Ms Rachel Bagshaw, M.R.l.C.S. FAAV, acted as Land Agents in respect of the Trust's various agricultural holdings. Inde endent Examlner Mr. J. F. Hornby, Chartered Accountant of J.F. Hornby & Co Chartered Accountants of Daltongate Business Centre, Ulverston, Cumbria is to provide an independent examiner's report on the Trustees, annual accounts and as required under the Charities Act 2011. Historical Ori ins The Trust has its origin in the Ulverston Enclosure Act of 1799 - an Act for dividing and enclosing the commons waste grounds and mosses within the Parish of Ulverston, and the subsequent Ulverston Comrnons Enclosure Award 1813, following which land in excess of 400 acres was vested in the Trustees on the basis that they would apply the income from the same towards the relief of the poor, firstly in lieu or alleviatlon of the poor rate and Secondly, if a surplus remained after dlsposing of the poor rate in lieu or alleviation of the constable rate. Little is known of the amount that went towards the alleviation of the poor rate, but from such flgures that are available it appears that during the period from 1870 to 1882 the contribution then made varied between £148. 19s. 6d. and £456. 7s. Id. The Trust was administered by Trustees until 1899 when it became the responsibility of the former Ulverston Urban District Council. Afterthe reorganisation of Local Government in 1974the Charity Commission Scheme was prepared and approved by the Charity Commission. General Pur oses The Trust is a grant giving charity. Under the Charity Commission Scheme the Trusts, ncome Is to be applied for charitable purposes within the area of the former urban district of Ulverston. The appropriate paragraph of the Charity Commlsslon Scheme reads as follows".- Subject to the payment of the expenses aforesald the Trustees shall apply the Income of the Charity in one or more of the following ways:_ The relief of aged impotent and poor Inhabitants of the area of the former Urban District Council of Ulverston Ithe inhabitants of the said area being hereinafter referred to as "the said inhabitants"),. The rellef of dlstress and sickness amongst the said inhabitants; The provision and support of facilities for recreation and other leisure time occupation with the object of improving the condÉtions of life of the said inhabitants in the interest of social welfare,. The provision and support of educational facilities for the said inhabitants; Any other charitable purpose for the benefit of the said inhabitants. The Charities Act 2006 expanded the list of general charitable purposes to include the following, but emphasised that it is a key requirement that there must also be public benefit. the prevention or relief of poverty; the advancement of education: the advancement of religion; the advancement of health or the saving of lives; the advancement of citi2enship or community development: the advancement of the arts, culture, herltage or science. the advancement of amateur sports; the advancement of human right5, conflict re501ution or reconciliation or the promotion of religious or racial harmony or equality and diversity,. the advancement of environmental protection or improvement; the relief of those in need, by reason of youth, age, ill health, disability, financial hardship or other disadvantage: the advancement of animal welfare; the promotion of the efficiency of the armed forces of the Crown, or the efficiency of the police, fire and rescue services or ambulance services,. other purposes currently recognised as charitable and any new charitable purposes which are similar to another charitable purpose" Ibl Icl Idl lel Igl Ihl ui Ik} Im) Although the Trustees have got a wide discretion. it is important to stress that the purposes for which 8rants can be made must be charitable, and must be for the benefit of the inhabitants of Ulverston. Such grants must not be used directly in the relief of rates, taxes or other public funds but the Trustees may apply Income In supplementing relief or assistance provided out of public funds. Aims Or anlsation Pr ress and Achievements The Trustees, whilst not limiting thelr general powers under the Charity Commission Scheme have over a number of years generally favoured making grants to groups or institutions for capital items which will be available for use by more than one person rather than grants towards a group's running costs or to individuals. Exceptions to this working rule of thumb have and will no doubt continue to be made in case5 of special need and at the Trustees discretion. Grants are generally made in response to direct applications but the wide background and experience of the Trustees means that they from time to time identify and endeavour to meet need without prior application. It has also been recognised that over time those Institutions which have been in receipt of grants for regular or annual events would come to rely on such funding when planning future events. It has been decided that the secretary can, in appropriate circumstances, relate to the recipients of such grants that the Trustees, 8eneral policy, without being able to be committed to future grants In advance of an application, would be against withdrawing support that had regularly been given without a suitable amount of notice. The Trustees have felt that the existence of the Trust is generally well known within the area of benefit. The Trustees have not over a number of years experienced any great difriculty in applying the Trust's annual net income towards deserving grant applicants. The Trustees held various meetings throughout the year at which they discussed all the grant applicatlons received and the management and administration of the various trust assets. Messrs. H&H Land and Estates made the usual annual inspection of the Trust's various agricultural holdings Ireports to follow). The trustees have an ongoing programme of repairs planned for Burnside Cottage. The largest individual grants made by the Trustees during the year were for.'_ £3000.00 to Ulverston International Music Festival £2500.00 to Ulverston Cricket Club £2500.00 to South Cumbria Musical Festival The grants made and agreed to be paid by the Trustees during the year are listed below.. Grantee Charit Amount Ulverston Flower Club Ulverston Print Fest UVHS Hardship Scheme Croftlands Infants Hardship Scheme Croftlands Juniors Hardship Scheme St Marfs School Hardship Scheme Church Walk Hardship Scheme SJB Hardship Scheme Sand5ide Lodge School Hardship Scheme Ulverston Rangers Ulverston International Muslc Festival Ulverston Amateur Operatic Societv Friends of Artspace Ulverston Lantern Festival Ford Park Ulverston Pantomime society Emfnanuel Christian Centre (Christmas) Barrow Food Bank WRVS (Christmas) Age Concern Ichristmasl Abbeyfield (Christmas) Vision Support Elmhur5t (Christmasl Swarthdale Ichristmasl Ulver5ton Day Services (Christmas) Ulverston Cricket Club South Cumbria Music Festival 400.00 300.00 1500.00 iooo.00 1000.00 iooo.00 iooo.00 iooo.oo iooo.00 iooo.00 3000.00 500.00 1500.00 iooo.00 1620.00 1088106 iooo.00 1052196 1152753 iooo.00 iooo.00 800.00 500.00 250.00 1015988 515821 200719 1051674 250.00 250.00 250.00 250.00 2500.00 2500.00 511814 Ulverston Print Fest Stealing Thunder St Mar¢s School Hardship Scheme UVHS Hardship Scheme Sandside Lodge School Hardship Scheme Croftlands Infants Hardship Fund Croftlands Juniors Hardship Fund Sir John Barrow School Hardship Fund Churchwalk School Hardship Fund TOTAL 300.00 iooo.00 iooo.00 1500.00 iooo.00 iooo.00 iooo.00 iooo.¢x) 1000.00 £36,170.00 The Trustees also have the following continuing commitments.. Further Education Bursary Scheme at Ulverston Victoria High School- up to £1,800.00 per annum 1,800.00 Townland Trust Prize for Citizenship towards the cost of 4 trophies given to one student from each of Years 7-10 at UVHS 80.00 Total 1880.00 Taking into accountthe continuing commitments ofthe Trustees, unspent income reserves at the Bank at 31st March 2025 were equivalent to the anticipated income receipts for approximately 25 months, which the Trustees considerto be sound. The Trustees, present policy on the level of reserves required to effectively meet the needs designated by the Charlty's trusts. is that unspent income reserves should not fall below l yearfs gross income. TheTrusteeswere pleased bythe number1361 and diversity of the grants made throughout the year. The Charitvs Bankers are HSBC Bank Plc. of Duke Street, Barrow in Furne55 and all the accounts held with the Bank apart from the Current (Community) account are interest bearing. A. R. Bryson Chairma for and on behalf of the Trustees ULVERSTON TOWN LANDS Recel ts and Pa ments Account Year to 31st March 2025 Recel Income Recei From Assets:_ Rent cheques not cleared before 31.3.24 0.00 Rents and acknowledgements (after deductlon of SLDC'5 expenses relating to the Gill car parkl 45,999.51 Business Money Manager Account 1,144.21 Money Market Account 167.54 Charibond interest- M & G 1092.44 Blackrock Interest- BLK Charities UK Equity Fund 2395.21 TOTAL RECEIPTS 50,798.91 Pa ments Direct Charitable Ex endlture Current grant cheques not cleared before 31.3.25 0.00 202412025 Grants las per the list in the annual report) Total 36,170.00 36,170.00 Other Ex endlture Uncleared expenses payment not cleared before 31.3.25 0.00 Rent collection, correspondence and secretary's annual fees (for l.10.24- 30.9.251 9,414.22 H & H fees- rent review negotiations, inspection and reports 3,360.00 JH Hornby Audit Fee 480.00 Insurances IPublic Liabilityl 0.00 Bank Charges Total 71.20 13.325.42 TOTAL PAYMENTS 49.495.42 Bank balances at 31st March 2024: _ Community Account Business Money Manager Account Money Market Account 24,941.49 10,830.02 69,887.82 105.659.33 Plu5 balance of receipts Over payments for the year 50,798.91 149,495.421 TOTAL: 106.962.82 Bank balances at 31st March 2025 Community Account Busines5 Money Manager Account Money Market Account 24,933.23 82,029.59 0.00 106,962.82 io ULVERSTON TOWN LANDS STATEMENTS OF ASSETS AND LIABILITIES AT 31ST MARCH 2025 The Trust does not have any restricted purpose funds. Moneta Assets not formln art of the ermanent endowment HSBC Bank PLC Community Account Business Money Manager Account Money Market Account 24,933.23 82,029.59 0.00 106,962.82 Debtors:. H.F. Morphet l.D. Rawlinson D.W. Lockhart J.W Woods 1,852.50 1,525.00 200.00 2,700.00 6.277.50 Other Total Moneta Cash Assets not formln art of the ermanent endowment 1731 Share5 in Charibond IM&GI 1109.133 Shares in BLK Charltles UK Equlty Fund A Inc (Black Rockl 1.865.15 8,413.61 10,278.76 Both of the above funds are common investment funds exclusively available to charities. Other Monetar Assets formin art of the ermanent endowment 19278.050 Shares in Charlbond IM & Gl {a narrow range investment under the Trustee Investment Act 19611 20,772.10 8339.409 Shares in BLK Charities UK Equity Fund A Inc IBlack Rockl la wider range investment uncler the Trustee Investment Act 19611 63,260.03 84,032.13 Non Monetar Assets all of which form art of the ermanent endowment Its land as referred to below:_ Approx area in Acres Descrlptlon Tenant Gross yearly Income The followlng land situate at Ulverston:_ Land numbered 5255, 4874, 3839, 3664, 3278, 2285. 1474, 2157 and 2735 on the Ordnance Survey Map {1967 Edition) known as Flan Hill Land numbered 6000, 4700, 8119, 7200 and 1839 on the said map and known as the Hoad and Outrake but not the building thereon known as Hoad Monument Land numbered 6918, 8100, 7007, 9100 and 7796 onthe said map and known as land at Townbank Allotment opposite 8 Chittery Lane Land numbered 8805 on the said map 0.41 Allotment at the top of Chittery Lane Land known as The Gill being part of the land grid reference 2850 and and 7853 on the said map Land known as Gillbanks grid reference 2824 and 7880 on the said map Burnside Cottage Gillbanks 55.99 Sweeting £5000.00 97.22 AR Edmondson £22CM).00 11.27 I Wilson £22CKJ.00 0.41 A Holme £10.00 P Lowe £50.00 The South Lakeland District Council Ulverston Town Council Mr DTate for Mrs Denyer Environment Agency 0.395 £2000.00 {minirnuml 5.22 £10.00 £2,100.00 Telemetry Kiosk at Gillbanks £143.20 12 Land at Little Hoad reference 9700 The following land situate at Oxenholme.. Land numbered 2533 on the said map. land numbered 1223 and part of 3011 on the said map and Land numbered 5500 on the said map Land numbered 0944 and 0033, 0054 and 8939 and Land numbered 0039 and 0044 on the said map Land numbered 8730 on the said map 1.22 Ulverston Town Council £io.c 18.00 J.A Crayston £1150.00 18.67 lan Rawlinson £1550.00 5.95 John W Woods £625.00 Land numbered 7525, 6700 and 6118 on the said map Land numbered 5430 on the said map Land numbered 5838 on the said map Allotment land opposite the Sea View Hotel at Sandside The following land situate at Rosside.. Land numbered 0006 on the said map Land numbered 8535 and 0005 on thesaid map Land numbered 8534, 9522. 0535 and 9555 on the said map The following land situate at Swarthmoor: Land numbered 5284, 4665, 5964 and 7662 on the said map Land numbered 0500, 0004, CQ58 and part of 0066 on the said map and Land being N05 7621, 7600, W23 9112, and 8600 on the said map Land being part of land numbered 0066 on the said map 25.28 lan Rawlinson £151X).00 3.46 4.13 John W Woods DW Lockhart Margaret Hornby £275.00 £400.00 £200.00 25.53 Richard Benson £2,100.00 27.37 lan Sweeting £2,800.00 40.57 Richard Benson £3,651.00 25.19 MichaelT Stable £1,900.00 38.99 H.F. Morphet £3705.00 United Utilities Electricity Sub- Station 0.02 £75.00 Land being the residue of the land numbered 0066 on the said map Land numbered 4900 on the said map 0.02 British Gas £25.00 Parish Council £60.00 Pennington Swarthmoor Football Club 3.40 £700.00 13 The freehold title to the land is vested in the Official Custodian for Charities under Clause 2 of the Charity Commission Scheme. The Trustees consider that the expense of formally valuing its various land holdings is not justified. The Trustees maintain public liability insurance as owners but not occupiers of the land. The land is considered to belong to the special range of investments permitted under the Trustee Investment Act 1961. Liabilities Hart Jackson rent collection correspondence and secretarial fees for 6 months from 1.10.2024 to 31.3.2025 5682.32 Land Registry Office copies 10.20 5692.52 A.R. Bryson (Chairman) 2025 for and on behalf of the Trustees REF: NM/UTL/Annual Report 2025 14