LUTfERWORTH TOWN ESTATES
REPORT AND FINANCIAL sTATEME1￿s
FOR THE YEAR ENDED 31 JULY 2024
CHARITY NO: 217609
Cottons Specialist Servkes Limited
Chartered Accountants
21 High Strett
Lutterwort
l%icestershire
LE17 4AT

L[￿ERwORTH TOWN ESTATES
CONTENTS
Page
Trustees, Report
Independent Examinevs Report
Statement of Fin4n¢ial Activities
Balan¢e Sheet
Notes to the Financial Siatements
8-12

LirrrERWORTH TOWN ESTATES
TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2024
The Trn$tees present their annual report and finan¢ia] statements of the charity foT the year ended 31 July 2024. The
finaficial statements have been prepared in a¢¢oTdance with the accouniing policies set out in notr l io the accounts and
comply with the charit￿5 trust deed, the Chartiies AL# 2011 and th¢ Accouniitig alld Charities Statement of Recommended
Prnctice (second editi<)n) and Financial Reporting Standard FRSIO2.
TRUSTEES
Mr R W Coleman
Mrs C Ha￿IngtOn ITTeasurer)
Mrs G Robinson {ChairnJan)
Mr M Utting
Mrs M White
Mr M Pe]'ks (Resigned 30 Sepiember 20?3)
Mr W Zilberts
C Weston IResigned 24 October 2023)
Mrs J Ack¢rley (Appoin*d l December 2023)
Rev N Byard (AP￿inted l DecemEer 2023)
CHARITY ADDRESS
12 Market Street
Lutterworth
L¢icesteJshire
LE174EH
REGISTERED NUMBER
217609
STATUS AND ADMINISTRATION
In 1214 an annua] Market Charter w&% granted by King John. and Tn 1414 8 weekty Market Charter wa5 8ranted by Henry
the 5th. Both of these allowed the Street vending of horses, callle and irther goods. Alms House5 and House5 for Industy
helped the poor hili in th* 16th e•nt￿￿ iti th4 43rd y•Ar •f h•r r•1￿? Quo¢n Eltubrth modc u 3th1ts¢¢ fvr &liw"i(ablr
purwse& and the regul&ion of the administratiort of propemes. fi￿dS for charitsble purp)ses and maintenance of th¢
highway5. At this tim¢ the Town Fathers came into being. Lutterworth grew and the aciivilies of the Town Fathers 4r¢
well Tecorded in minule books, prortrty purchase& donations and tequests. Detyils are held in the reeord olTices.
With government ststutes tn the 19th century (1834 Poor Laws) Charity Cornmissioners Trxought in schemes e$tabli5hed by
law, and Lutterworth TowTr Estst&s Charity came into being il w0￿S iojay.
The present scheme was sealed tsn the 5th of September 1983, and regulated by a scheme of the Charity Conunissioners of
the 12th January 1972 and in the matter of the Chariti¢5 Act IW).
Page-2-

LufTERWORTH TOWN ESTATES
TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2024
ORGANISATIONAL sTRU￿uRE
Lutterworth Town Eslates Charity 15 athninisteyed by 9 TTUW these are ap￿int￿ as:
One Exwofficio Trnstee. The Rector of the E£clesia5ti¢a] Parish of St. Mary. Lutterworth.
Five C04)pt*ive TTUStees elected for a period of 5 year&
Three Trustees nominated by the Town Council for a wiod of 4 year
Within ihis there are 2 appointed Th￿teA Mrs Geraldine Robinwn &8 Chair and Mrs Carole HaTrington as Tr￿Urer.
The Trustees utili5¢ tht SeTvi¢e of • s¢lfaemployed bookkeew. The prop¢nies are managed by a professional managing
agent. Trusttts expenses aye very low and only involve refijnds of Tnonies spent on telephone calls made on behalf of the
Charity.
OBJECTS
Subje¢¢ to payment of nomial expense5 the Charity applies Is c105e as possible to one third of its unrestricted income to
Ihe Lutterworth Town Hall Charity.
The residue of the income from the letting Of pro￿lIeS in the town. may be giv¢n aceordin8 to need, foT any charitable
purpose, for the general Etnefit of the inhabitants of the town of Lutt¢rworth, for whieh provision is noi already made ()ut
of rate$, tax&s or other public funds.
Our Charity donations are made to the sicL elderly, infimi and disabled, we have Con￿ with the Citizens Advice Bureau,
Leicester Charity Link, and the local hospitsl and health centre. all of whom are aware of our commitment to 8SSiSt the
people of Lutterwonh who &re in need.
RISK ASSESSMENT
Any changes in l¢gislation regarding our propertiw advised to us by our Managing Agents. and a watching brief is k
on our buildings.
REPORT AND VALUATION
The proixrties are a mix of re5id¢nii41 and commercial woperti¢s wjd have been valued by the trustees &t market value
based on current prices for similar properties in the sam¢ location and condition. The ¢ommeTcial propety that Was being
constnjcied last year was compl¢teJJ d4]rin8 the year.
RESERVES
Unrestri¢ted fijnds can be wed in accordance with the clwttsble obJe¢tiv¢s at the discretion of the trustee5.
It has not been the policy of the Charity to accumulate significant w)￿StrIcted fund& as it is the aim of the Charity to
distribute & invest monies for the benefit of the inhabitants of the town who are in need. However, the Trustees are ver).
aware of the nttd to retain a certain amount of TTK>ney to meet the needs of urgent repairs to the properties and to maintain
a reserve for working ￿pItal requirnnents. All Surplus fvndg hkve, over the year& been reinvesied and will continue to be
50, when and if available. Theye are no designated funds.
The restricted fijnds will be used forthe purpose for which they were given.
Page-3-

LirrrERWORTH TOWN ESTATES
TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2024
INVESTMENT POLICY
Thc bustees policy is to maintain its prot￿leS to a high Stsndart ID ord¢r to provide an income for the ¢harity. Any
surplus is inVeS￿d in tnterest b¢artng bank making more incom¢ aydilable for C8Trying the obj¢¢ts of the
charity.
TRUSTEES AND OTHER RELATED PARTY TRANsA￿loNs
Reimbur5¢d expenses ￿ld to Mrs G RobirLKm for the year to 31 Juty 2024 were £1￿.
No remuneration w&8 paid to any tsvstee and ther¢ were no othtt ttl*ed party transactions.
TRUSTEES RESPONSIBILrriES
The charity trusiees are responsible for pwaring 8 trustee5' annual rew)rt and financial statem¢nts in accordance with
appli¢able law and United Kingdom Accounting Standards (United Kingdom Generally A¢¢epted Accounting Praeiice).
The law applicable to Charities in England and Wales requires the charity trustees to prepare financial statements for each
year whi¢h give a true and fair view of the stste of affair5 of the ¢harity and of the incoming resources and application of
resources, of the Charity for that ￿riod. In prepaTill8 the rtnan¢ia] statemenE the trustees are required to..
- select suitable accounting poli¢ie5 and then apply them eonsistently
observe the methods and principles In the applicable charitie5 SORP:
- m&k¢ judgements and estimates that are ￿&Sonable and prudeni
- state whether applicable a¢¢ounting sthmdards have been followetl subj¢¢t to any m•¢rial departures disc105ed and
explained in the fin8ncial stsiements..
- prepare the financial $taiements on the going concern basi5 unless it is lilappropri￿¢ io presume that the charity will
continue ID business
'rhe trustees are responsible for keeping KKoper accounting rec¢xds tha¢ disclose with reasonable accura¢y 41 any time the
rinancial position of ihe charity and to enable ihem to ensure that the financial sthtements comply with the Chprilies Act
2011. the 8ppli¢able Charities {Accounts and Reports) Regulations, and the provisions of th¢ Trust deed. Thq ar¢ a150
responsible for safeguardin8 the assets of the charity and tsking retsonable steps ￿ the prevenlion of fraud and other
Irrc54loritirJ.
The ￿$tee& are responsible for the Maintenance and integrity of the clwity and financial infomation included on the
charity's website Legislation in the United Kingdom 8ov¢rning the preparation and dissemination of the financi
statemenis. may differ from l¢gislation in otheT jurisdiciions.
royed
the tswtees on and signed on their behalf by:
Mrs G Robinwn
Chaimian
6May2025
Page-4-

LUTfERWORTH TOWN ESTATES
INDEPENDENT EXAMINERS, REPORT TO THE TRUSTEES OF
LU￿ERwoRTH TOWN ESTATES
I report to th¢ trustees on my examination of the #¢¢ounts of Lutterworth Town Estates for the year ended 31 July 2024.
RESPO]YSIBILITILS AND BASIS OF REPORT
As th¢ charÉWs trustees. you are responsible fly the prei)aration of the a¢Cout￿ in accordance with th¢ requirements of
the Charities Act 2011(￿le Act").
I report in resped of my examination of the TTUSI'$ accounts caTried out under section 145 of the 2011 Act and in
carying out my examination I hav¢ followed all the applicabk Directions given by the Charity Conunis$ion under
section 14515)(b) of the Act.
INDEPENDENT EXAMINER'S STATEMEI
I have CQTnpleted my examination. I confirni that no m￿erIal matters have come to my attention in
connection with the examination giving me cause io believe that in auy material res￿Ct.
l. a¢¢ounling r¢cords were not kept in res￿ of the Tru￿ as requir￿1 by section 130 of the Act. or
2. the a¢¢ounis do noi accord with thos¢ records. or
3. the accounts do not comply with the applicable requirM￿Trts concerning the fomi and content ol. aceounts set in
the Charities (Accounts and ReFthS) Regulation5 2008 other than any requirement the a￿o￿nis giv¢ a 'trne and fair
view which is not a matter ¢onsidered &$ part of an ID dependant examiD*ion.
I have no concerns and have come acrots no other matters in ¢(x)n¢ction with the examination to which attention should
be drawn in this report in order io enable a Fvoper und¢rstsndin8 of the a¢￿￿￿￿ to be Ttached.
W Smart
For and on behalf of
Cottons Specialist Services Limited
Chartered AccountanL
21 High Street
Lutt¢rworth
Leiceslershire
LE174AT
6 May 2025
Page-5-

LiITTERWORTH TOWN ESTATES
STATEMENT OF FINANCIAL A￿1VITIEs
FOR THE YEAR I AUGUST 2011 TO 31 JULY 2024
2024
R￿leted Unrestri¢ted
Note Fund
Fund
2023
Totsl
Total
INCOMING RESOURCES
Grants received
Property income
Market income
Investsnent income
High Point income
61168
2.605
2,610
21.016
62.168
2,605
2,610
21.016
55.103
2,715
793
9,072
Total In¢omlDg Resources
RESOURCES EXPENDED
88,399
88,399
67,683
Colt of gener8tSn8 funds
Property expenses
Market exp¢n5es
High Point expenses
54.435
1,274
12,930
54.435
1,274
12.930
44,174
1,673
12,080
68,639
68,639
57,927
Charlt*ble exptndlture
Costs of actlvilies in furtheran¢¢ of
Charilable objectives
Management and administration
1,794
17.866
1.794
17,866
1.849
17,875
19,660
19,660
19,724
Tot41 Resourees Expended
88299
88299
77,651
Net Incomlng Mourees for the y¢4r
(9,968)
Net gains on investmeni &8sets- realised
Net gains on investmcnt assets- unrealised
502
Net moveTnellt in fuods
(9,466)
Acoumulated Funds brought forward at l August 2023
325.0
1.947.744 2272.744 2282.210
Ac¢umulAted Fund carried fornard at 31 Jwty 2024 4
325.IKKI
1.947,844 2.272,844 1272,744
P4e-6-

LufrERWORTH TOWN ESTATES
BALANCE SHEET
AS AT 31 JULY 2024
2024
2023
Note
FIXED ASSETS
Investments
Tangible assets
2,065,000
19J70
2,065.000
19.618
2,084,370
2,084,618
CURRENT ASSETS
DebtOTS
Cash at bank and in hand
8.851
205.102
6,405
215,929
213.953
222,334
CURRENT LIABILrriES
Trade ¢reditors
Other creditors and provisions
3,305
30.703
25.479
(25.479)
134,208)
NET ASSETS
2272.844
2,272,744
ACCUMULATED FUNDS
Unrestricted funds
Fair value reserve
Reslri¢ted fiJDds
.708.627
239.217
325,OLKI
1,708.527
239.217
325,(M)O
?2T2.844
2272,744
The accounts were approv¢d by the Board of TnL%tees on and on its ixhalf by..
Mrs G Robinson
Chairman
6 May 2025
P￿e-7-

LurrERWORTH TOWN ESTATES
NOTES TO THE AccouNrs
FOR THE YEAR ENDED 31 JULY 2024
Aceoulltlng policles
1.1. B48is of preparation 2Dd Lsswmtnt ofEoIDg toucern
The accounts {financial Swements) have been prepared urtdeT the historical Cost convention with items
re¢ognised at cost or tran5actioM value unlcs$ otherwis¢ Stated in the relevant notels) to these accounts. The
rinanctal ststements have been p￿pared in accordance with the second edition of the Charities Ststeittent of
Recomrnended Practice issued in (kiober 2019, the Financial Reporting Standard appIl￿b]e in the United
Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The tn￿teeS ¢onsider th41 there are no
marerial uncertainties about the Tn]st's ability ts) ¢ontinue ￿ a going con¢ern.
1.2. 1￿comEn￿ resources
Bal￿ interest is included irt the SOPA on reeeiirt.
Property and markei income is recognised &s il falls du¢ to be rec¢ived by the ¢harity. however no a¢¢ount IS
iaken of amounts receivable bui n(K invoiced ￿ the year end.
Grants ore Tecognised when reRived by the charity.
Other income is included when received by the charity.
IJ. Re80ureeJ exptttded
All ¢xpendiiur¢ is accounted foT on On accruals basis. All expenditure which is direcily related to the provision
of advice services is included within charÈthble expenditure. (nher ¢osts have t*en shown os the cost of allocated
managemeni and administration.
1.4. Tangible flx¢d ￿ets gnd depretlatlon
Investment fixed assets are held ai current marke¢ valu< others are held at cost. Assets under constn[￿lljn are
held at the lower of CO￿ and matl(et value. Depr¢¢iation is provided at the following annual rntes in order to
allocate th¢ depreciable amouni of each asset over its es¢ima*d use￿[ life:
Equipment
15 Vty per annum of nei bc*)k value
Investm¢nts
Investment
properties
At l August 2023 and
at 31 July 2024
2,065,000
All invesllnent a55ets are held in the UnTted KingdonL
Page-8-

Lu￿ERWORTH TOWN EsfATES
NOTES TO THE ACCOUNTS
FOR TFtE YEAR ENDED 31 JULY 2024
2.1. Investment properties
EnclLKled within the above is inv¢stsnent prowtiu measured at valuation as follows..
At l Augusr 2023 and at 31 July 2024
1,755,0(M)
In respect of the investment piwies held at valuation. the aggr¢gAte cost and ¢omparable carying amount that
would have Te¢ognised if the irtv&8tsnent woperties b¢en carried under the histori¢al cost mod¢l are as
follow5.
2024
2023
Ag&r¢gote cost
1,515,783
,515,783
Tangibk flxed assets
Equlpmellt
Total
Ne¢ book vAlue
At l Augusi 2023
Additions
19.618
3,351
19,618
3.351
22,969
22,969
Depreelatlon
ChaTge for th¢ year
(3.599)
(3 599)
Net book VAlue
At 31 July 2024
19.370
19,370
P4e-9-

LUThERWORTH TOWN ESTATES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2024
Movemellt in fuods
At
llltoming Oulgoing Investment
l August Resources R&sources
G•iDs
2023
At
31 July
2024
Totsl Restrfrted Funds
325,OlJ)
325.000
Totsl Unr¢strlcted Funds
1.947.744
88J99
88299
1,947.844
TOTAL FUIYDS
2272,744
88J99
88299
2.272.844
Reslrleted Funds
High Point build costs
Heriiage Centre and Lutterworth Museum
fil-out
Continuing tkvelopment of the
Heritage Centre 8nd Lutt¢nv(*th Museum
250.(
250,000
30.(K)O
30,000
45,LXIO
45,000
325.¢)Cll
325,000
High Polnt bulld ¢0gts
These grdnts were received from Harborough District Council and GLP as conthTrutions lowArd$ the con.4tDJciion
of an improved and modern museum building in Lutterworth iown centrt.
Herltage Centr¢ and Lutterworth Museum Ilt-out
Thi5 grant was r¢¢eived from GLP to h¢lp fund the inwnal fit-fmjt and development of the H¢ritage Centre space
and Lutterworth M￿uM.
Continulll¥ Dev¢lopmeDt ofthe Her5t•g¢ C¢Trt￿ aDd Lutterworth Museum
This grdnt w&s received from GLP to fund the employment of professiona] resources or an individual. who will
help dcvelop. launch and establish a sw%t4inable OFera(in8 mixl¢l for both the H¢rilage Centr¢ and the
Luttenvorth Muscum.
Page-10-

LirrTERWORTH TOWN ESTATES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2024
Town Hall Granl
2024
Town Hall Charity Grant
The nel U[￿trI¢l¢d Income this year is just £1￿ and and so no rwneni is due.
Cosl of 8*lltrallng fvnds
2024
2023
40.330
8,004
2,502
3,599
1,020
254
2.501
7,368
3,061
31,862
7,181
1.668
3.463
1.020
65i
4,209
5,008
2,863
Management charges
Properry insurance
Depreciation on equipment
Market wa8e5
Market tolls
High Point repatTS and miscellaneous expenges
High Point heat and light
Hsgh Point insurance
68,639
57,927
P4e-11-

L￿￿ERwORTH TOWN ESTATES
N(yfES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2024
Charilable exp¢Ddithre
2024
2023
Grants- indivithials
GrwJis- restricted
Town hall donations upcoming year
Bookke¢ping and adrninisiraiion
Office telephone and internet
Office 4dmini5tt71ion expenses
Sundry expenses
Offi¢¢ rates and water
O￿lCe insurance
OtTice h¢at and light
oiri¢e repairs
Professional fees
Accounian¢y
1,794
350
1,499
4272
691
1,989
4.059
553
1.562
21
297
198
744
4,668
3,000
2,773
257
1.448
4.877
3,041
19,660
19,724
Pag¢-12-

LurrERWORTH TOWN ESTATES
INCOME AND EXPENDrruRE AccouNr
FOR THE YEAR ENDED 31 JULY 2024
2024
2023
INCOME
Propety
Market
High Point
Bank int¢resl
62.168
2.605
21.016
2.610
55,103
2,715
9.072
793
88.399
67.683
EXPENDITURE
G¢rteral
Property
Market
High Poini
17.866
54.435
1274
12.930
17,875
44.174
1.673
12,080
(86,505)
(75,802)
1.894
8,119
GRANTS PAID
Individuals
Community projects
Restricted
350
1.499
(1,794)
11,849)
TOWN HALL GRANT
P¢r not¢ 5
NET GAINS ON INVESTMENT ASSETS
Re¥4li5ed
Ilnrealised
502
502
(1.794)
(1.347)
SURPLUS OF INCOME FOR THE YEAR
{9.466)
Pagt-13-

LU￿ERwoRTH TOWN FSTATES
OVERHEAD EXPENSES
FOR THE YEAR ENDED 31 JULY 2024
2024
2023
GENERAL EXPENSES
Bookkeeping and administration
Office telephone and internet
Office administration expenses
Sundry expenses
oirice Tates and water
Ofrice insurance
Office heat and light
Office repairs
Prof¢ssional feos
Accountancy
42T2
691
1.989
4.059
553
1,562
21
297
198
744
4.668
3.000
2,773
290
257
999
1,448
4.877
3.041
17.866
17,875
PROPERTY EXPENSES
Propety repairs
Management Charges
F*opety insurdnce
Depre¢i4ti0n on equipment
40,330
8,004
2.502
3,599
31.862
7,181
1.668
3.463
54,435
44,174
MARKET EXPENSES
Market wages
MaTket tolls
1.020
254
1,020
653
1274
1.673
HIGH POINT EXPENSES
High Point repairs and miscellaneous expenses
HÈ8h Point heat and light
High Point insurance
2.501
7J68
3.061
4,209
5,008
2,863
12.930
12.080
Page-14-