Charity Rogi8tration No. 237056
LIGHTBOWN COTTAGE HOME TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

LIGHTBOWN COThAGE HOME TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr P Jennings
Mr D J Marsden
MrT Watson
Mrs B Holden
Mr R Done
(Appointed 19 Octr)ber
20211
Charity number
237056
Princlpal addr68$
29 Sunnymere Driv8
Darwen
Lancashire
BB3 1RH
Accountants
Hindle Jepson & Jennings Ltd
10 Borough Road
Darwen
Lancashire
BB3 1PL
Bankers
National Weslminsler Bank plc
35 King William Street
Blackburn
Lancashire
BB17DJ

LIGHTBOWN COThAGE HOME TRUST
CONTENTS
Pago
Trustees, report
Accountants, reF<Jrt
Slat&ment of financial activitses
Balan￿ sheet
Notes to the financial statements
5-12

LIGHTBOWN COThAGE HOME TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees present their report and financial ststements for the year ended 31 December 2021.
The a￿Ount$ have been prepared in accordance with the accounting policies sel out in note I to the accounts
and comply with the Trust's goveming doeum8nt, the Charities Act 2011 and "Accounting and Reporting by
Charities.. Statement of Rets)mmended Piacti¢e applicable lo charities preparing their acLounts in ac(x)rdance
with the Financial Reporting Standard applieable in th8 UK and Republic of Ireland {FRS 102}" las amended
for accounting periods commencing from 1 January 20161
Objoctives and activities
The Trusvs objects are to provide cottage homes to aged persons of Darnven. The poliue5 adopted in
furtherance of these objects are to maintain the cottages and provide comfortable accommodation at
affordable price. There has been no change in these during the year.
The Trustees have paid due regard lo gutdance issued by the Charity Commission in deciding what activities
the Trust should undèrtake.
Achlevements and perfornian¢•
During the year the Trust provided 8 cottages whi¢h were fully maintained.
Financial review
The Trust has maintained ils level of income in the yoar.
11 is the poli￿ of the Trust that unresliicled funds which have not been designated for a specific use should be
maintained at a level equivalent to be￿gen three and six month's expenditure. The Trustees consider that
reserves at this level will ensur8 that, in the event of a signrficant drop in funding, they will be able lo continue
the Trusys current activities while consideralion is given to ways in which additional funds may be raised. This
level of reseNes has been maintsined throughout the year.
The Trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are
in place to mitigate exposure to the major risks.
structur•* governanco and management
The Trust was estsblished by a charitable INSI deed on 26th July 1915. from a bequest made by the late
Timothy Lightbown who died September 1910.
The Tfustees who served during the year and up to the date of sigftature of the financial statements were..
Mr G Holden
(Deceased 25 April 20211
Mr P Jennings
Mr D J Marsd8n
Mr T Walson
Mrs B Holden
Mr R Done
(Appointed 19 October 20211
Trustees shall be appointed to fill vacancies by the Twstees al a Special Meeting of their body lo be held after
a lapse of one calendar month from the ¢)C￿rrenCe of such vacancy by a resoluts'on lo be forthwilh nolffied by
them with all propgr information lo the Charity Commission.
None of The Truslees has any benef￿81 interest in the company.
The tru$lees' report was approved by Ihe Board of Truslees.
Trustee
Dated. aq:..l.:...?l .

LIGHTBOWN COThAGE HOME TRUST
CHARTERED CERTIFIEDACCOUNTANTS. REPORT TO THE TRUSTEES ON THE
PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
LIGHTBOWN COTTAGE HOME TRUST FOR THE YEAR ENDED 31 DECEMBER 2021
In order to assist you to fvlfil your duties under tha Charities Act 2011, we have prepared for your approval the
financial statements of Lightbown Coltage Home Trust for the year ended 31 0￿mber 2021, set out on pages
3 to 12 from the eharily's accounting records and from infomialion and explanations you have givgn us.
A5 a practssing member firm of the Ass¢xiation of Chartered Certified Accountants, we are Subject to ils ethical
and other professional requirements which are detsiled at https.'IlvMv.accagiobal.comlgblenlmemberlslandardsl
rules-and-stsndardslrulebook.hlml.
This report is made lo the tharity's Trustees, as a body, in accordance with the temis of our eng8Jement letter
dated 27 August 2019. Our work has been undertaken solety to prepare for your approval the financial
statements of Lighlbown Collage Home Trust and slalo those matters that we have agreed lo state lo th
charity's Trustèes, as a Ix)dy, in this report in accordance with the requirements of the Association of Chartered
Certified Accountants as detsiled al https.'IlvMw.accaglobal.comlconlentldamlACCA Globawfechnicallfacv
techn￿al-faCtsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume re$Fonsibility to
anyone other than Lightbown Cottage Home Trust and the charity's Trustees as a body, for our work or for this
report.
It is your duty to ensure that Lightbown Cottage Home Trust ha$ kept adequate accounting records and lo
prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial posibon and
surplus of Lighlbown Cottage Home Trust. You consider that Lightbown Cottage Home Trust is exempt from the
statutory audit requirement for the year. and is not required lo obtain an independent oxaminorfs report.
have not been instructed to carry out an audit or 8 review of the fin8ncial statements of Lighlbown Cottage
Home Trust For Ihis reason, we have not verified the accuracy or completeness of the accounting records or
information and explanations you have given to us and we do not, therefore, express any opinion on the
statutory financial statements.
Hindlg Jep80n & Jonnlngs Ltd
Chartered certifi￿ Accountants
10 Borough Road
Darwen
Lancashire
BB31PL

LIGHTBOWN COThAGE HOME TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
Unre8ti1Ct￿ Unrestricted
funds
funds
2021
2020
Other trading activities
Investments
Other income
18,952
6,298
200
18,548
7,652
Total incomo
25,448
26,200
Charitable activities
21,842
15.836
Net gainslllosses) on investments
10
17,997
113,392)
Not movem•nl in funds
21,603
13,028)
Fund balances at 1 January 2021
257.156
260,184
Fund balanc08 at 31 December 2021
278,759
257,156
The statsment of financial aclivitias indudes all gains and losses reccgnised in the year.
All income and expenditure derive from continuing activitw.

LIGHTBOWN COTTAGE HOME TRUST
BALANCE SHEET
ASAT31 DECEMBER 2021
2021
2020
Notès
Fixgd assets
Tangible assets
Investsnents
11
12
28,595
214,746
28,899
190,639
243.341
219.538
Currgnt a880ts
Debtors
Cash at bank and in hand
13
1,222
35,732
1,301
37.453
36,954
38,754
Croditors: amount8 falllng due wlthln
ono year
14
(1,5361
(1.1361
Net current assets
35,418
37,618
Total assets l•s* curront liabllltlos
278,759
257,156
Ineome funds
re
Designaled funds
General unreslricled funds
Revaluation reserve
15
62,435
139,281
77,043
63,546
134.564
59.046
278,759
257,156
278.759
257,156
The accounts were approved by the Trustees on ..
Trustee
Trustee

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accountlng pollcles
Charlty inforniation
Lightbown Cottage Home Trust 1$ a Trust whieh was established by a charitable deed on 26th July 1915.
The principal addresg Is 29 Sunnymerè Drive, Darwen, Lancashire, BB3 1 RH.
1.1 Accounting convention
The accounts have been prepared in accordance with the Trust's governing dceumenl. the Charities Act
2011 and "Accounting and Reporting by Charities: Slalement of Recommended Practice applic8ble to
ehariti&s preparing their accounts in accordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland IFRS 102}° las amended ft)r accounting periods commencing from 1 January
2016). The Trust 1$ a Public Benefit Entity as defined by FRS 102.
The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update
Bulletin 1 not to Pfepaie a Statement of Cash Flows.
The fi'nancial $Èalemenl8 are prepared in sterling, which is the functional currency of the Trust. Monetary
amounts in these financial statements are rounded to the nearest £.
The accounts have been p￿pared under the historical cost convention, modrfied to include the revaluation
of freehold properties and to include investment properties and certain finanaal instruments at fair value.
The principal accounting policies adopted are set out below.
1.2 Going concorn
At the lime of approving the financial slalements. the Trustee8 have a feasonable expectation that the
Trust has adequate resources to continue in opemlional existen￿ for the foreseeable future. Thus the
Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charltablo funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their ¢haritable
objectives.
Endowment frjnds are subject to sp8¢ific conditv)n$ by donors that the capital must be maintained by the
Twst
1A Incoming rosource8
Income is recognised when the Trust is legally entitled lo it after any performonce conditions have been
met, the amounts ean be measured raliably, and it is probable that inwme will be received.
Cash donations are recogni8ed on receipt. Other donations are recognised once the Trust has been
notrfied of the donation, unless performance conditions roquire deferial of th8 amount. Income lax
recoverable in relation lo donations received under Gift Aid or deeds of covenant is recogni58d at Ihe time
of the donation.
Legacies a￿ recognised on receipt or otherwise if the Trust has been notified of an impending distribution.
the 8mounl is known, and receipt is expected. If the amount is not known. Ihe legacy is treated a$ a
contingent assel.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts
receivable for goods and services provided in the normal course of business, net of discounts. VAT and
othor sales related taxes.

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Accountlng policies
(Contlnuedl
1.5 Resou￿9$ expondad
All expenditure is aecounted for on an aLxruals basis and applied under the appropriate heading. Liabilities
are recognised as resources expended as soon ag the obligation and commitment by the Charity to the
expenditure arises.
1.6 Tangiblg Ilxod a888ts
Tangible fixed assets are inrtially measured at cost and subsequently measured at ¢0St or valuation, net of
depreciation and any impairment losses.
Dgpreciation is recognised so as to write off the cost or valuation of assels less their residual values over
theif useful lives on the following bases..
Land and buifdings
1% 5traighl line
The gain or loss arising on the disposal of an asset is dgtermined as Ihe difference befvleen the sale
proceeds and the carrying value of the asset, and is recognised in net incomellexpendilurel for the year.
1.7 Flx¢d asset Inv08tments
Fixed asset investsrenls are initially measured al ttansaclion prtce oxcluding 1ransacb.on costs, and are
subsequently measured al tsir value al each reporting dale. Changes in fair value are lgcognised in
incomel{expenditurel for the year. Transaetion costs are expensed as incurred.
1.8 Impairni•nt of fixod assets
At each reporting end date. the Trust reviews the carrying amounts of ils tangible assets to determina
whether there is any indication that those assets have suffered an impairment loss. If any such indication
e￿$ts, the recoverable amount of the asset is eslimaled in order to determine the extent of the imFRirmenl
ss {rf any).
1.9 Cash and eash equivalonts
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-terni liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are
shown within borrowings in ¢urcont liabilities.
1.10 Flnanclal instruments
The Trust has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are rgcognised in the Trusf5 balance sheet when the Trust becomes paty to the
¢ontractU81 provisions of the instrument.
Financial a58ets and liabilities are offset. with the net amounts presented in the finaneial statements, when
there 15 a legally enforceable right to set off the recognised amounts and there is an intenb'on to settle on
net basis or to realise the gs$et and settle the liability simultaneously.
8￿1¢ financial assets
Basic financial assets, which in¢lude debtors and cash and bank balances, are init￿lty measured at
transaction price including transaclK)n costs and are subsequently caNied al amortised cost using Ihe
effective interest method unless th8 arrangement conslilules a financing transaction, where the transaction
is measured at the present value of the future receipts discounted at 8 market rate of inte￿8t. Financial
assets dassffied as ieceivable within one year are not amortisgd.

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Aocountlng pollcl•8
(Contlnued)
Basic financlal Ilabilities
Basic financial liabilities, including creditors and bank loans are ini11811y recognised al transaction price
unloss Ihe arrangement eonstilutes a financing transaction, where the debt instrument is measured at the
present value of the future payments discounted at a market rate of Inte￿$L Financial liabilities classffied
as payable within one year are not amortised.
Debt instruments are subsequently carried at amortiS￿ co$L using the effective inlergsl rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary Cl￿r8e
of operations from suppliers. Amounts payable are classif*d as current liabilities rf payment is due within
one year or les8. If not. they are presented as non-current liabilities. Trade creditors are recognised ini(ially
at Iransaction price and subsequently measured at amortised cost using the effectr.ve interest method.
Dere¢ognition of flnancial liabilitles
Financial liabilitses are derecogni8ed when the Tru8f8 contractual obligations expire or are discharged or
cancelled.
Critical accounting estlmate8 and judgem•nt8
In the applscation of the Trusys accounting policies. the Trustses are required to make judgements.
estimales and assumptions about the carrying amount of assels and liabilities that are not readily apparent
from other sources The estimates and associated assumptions are based on historical experience and
other factors Ihat are considered to be relevant. Actual results may drffer from these estimates.
The estimates and underlying assumptions are r8viewed on an ongoing basis. Revisions to accounting
estimates are recognised in the pgriod in which the eslimalg is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Other trading activlt1•8
Unrestrictad Unrestricted
funds
funds
2021
2020
Maintenance Contributions
18,952
18.548

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Inv8Stments
Unro$tri¢tod Unrestricted
funds
funds
2021
2020
Income from listed invegtments
Interest retsivable
6,264
32
7,619
33
6,296
7,652
Other incom•
Unrn8tricted
fuThd$
Total
2021
2020
Other income
200
6 Charltable activitles
Housing
provision
2021
Housing
provision
2020
Service costs
Day lo day maintenance
2,944
15,402
2,896
9.518
18,346
12.414
Share of govem8nce costs (see note 71
3.496
3.422
21,842
15.836

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Support costs
Support Gov•man
costs
¢08ts
2021
2020 Basis of allocation
Depreci*ion
304
304
304
Accountan
Clerks honorarium
Sundry
Management
888 Govemance
1,466 Governan
268 Govemanee
496 Governance
1.488
659
499
1,488
659
499
3.496
3,496
3.422
Analysed between
Charitable actNities
3,496
3,496
3,422
Governance ￿$ts includes paymonts to the accountants of £546 {202￿ £888}
for aecountsncy fees.
Trustee8
None of the Trustees lor any persons connected with them) received any remuneration durin9 the year.
Employees
The average monthly number of employees during the year wa$:
2021
Number
2020
Number
Total

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
10 Not galn81{1066e8) on invostsnents
2021
2020
Revaluation of inveslments
17,997
{13,3921
11 Tanglblo fixed a8Sfrt8
Land and bulldlnos
Cost
Ai 1 January 2021
30,420
Al 31 December 2021
30,420
Depreciation and Impairnlgnt
Al 1 January 2021
Dgprecialion charged in the year
1,521
304
At 31 Detsmber 2021
1,825
Carrylng amount
At 31 December 2021
28,595
At 31 December 2020
28,899
12 Flxed assot investments
Unlistod
inve#tm•nts
Cost or valuatlon
At 1 January 2021
Additions
ValuatM)n changes
190,639
6.110
17,997
At 31 DeCem￿r 2021
214.746
Carrying amount
At 31 Oecember 2021
214,746
At 31 t)eeember 2020
190,639
10-

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
13 Debtors
2021
2020
Amounts falllng due within one yoar:
Trade debtors
Prepayments and accrued income
176
271
1.030
1.222
1,301
14 Cr•dltorn: amounts falling due withln one year
2021
2020
A￿r￿al$ and deferred income
1,536
1,136
15 0g$ignatod fund$
The income fvnds of the charity includ¢ the following designated funds which have been sel aside out of
unrestricted funds by the trustees for specific purposes..
B#lanc• at
1 jan￿ary 2020
Re¥ourc88 Investrn•rts Balance at R•sources Inv8stsngnts Bala￿+¥¢
exp•nd8d yins11088881 J2nuary 2021
•xpondod galnBlloBMs 31 DKembor
2021
Major Repair
Rgserve
60,290
{4.200}
7,456
63.546
17,2211
6.110
62,435
60.290
14,2001
7,456
63,546
{7,2211
6,110
62,435
11

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
16 Value lor Mongy Mgtrfcs IVFMI: AS rnqulrod by the Regulalor of Soclal Hou8ing (June 2019)
M8asurgs of Economy. Efficioncy and Effèctrvènes8
2021
2019
Reinveslme*n* % -Amounls spent on new properties as
% of existing tangible fixed asset value
New Supply %-Number of new properties acquired a5 a
of existing properties owned
a. Social Housing Units
b. Non Social Housing Units
0%
Gearlng Whow much of assets is made up of dgbl. This
result may be negative where the Provider has no loan
agreements in place
-1.25%
-1.29%
EBITDA MRI Inlerest Cover %-level of eamings (before
tax, depreciation, amortisats'on, major repairs included)
compared to interest payable (financing Costs)
0%
Headline Social Housing Cost-lotal annual running costs
per Social Housing Unit owned
£2,692
£1,941
Opefaling Margin %-operating surplus as a % of total
income
a. Social Housing Letting
b. Overall
1.14%
1.14%
-0.16%
1.16%
Retum on Capital Employed Okn-operating surplu$ a$ a %
of net current assets employed
0.07%
-0.01%
17 Relatod party transaGtion8
There were no disdosable related paty transactions during the year12020 - none).
12-

Charity Rogi8tration No. 237056
LIGHTBOWN COTTAGE HOME TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

LIGHTBOWN COThAGE HOME TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr P Jennings
Mr D J Marsden
MrT Watson
Mrs B Holden
Mr R Done
(Appointed 19 Octr)ber
20211
Charity number
237056
Princlpal addr68$
29 Sunnymere Driv8
Darwen
Lancashire
BB3 1RH
Accountants
Hindle Jepson & Jennings Ltd
10 Borough Road
Darwen
Lancashire
BB3 1PL
Bankers
National Weslminsler Bank plc
35 King William Street
Blackburn
Lancashire
BB17DJ

LIGHTBOWN COThAGE HOME TRUST
CONTENTS
Pago
Trustees, report
Accountants, reF<Jrt
Slat&ment of financial activitses
Balan￿ sheet
Notes to the financial statements
5-12

LIGHTBOWN COThAGE HOME TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees present their report and financial ststements for the year ended 31 December 2021.
The a￿Ount$ have been prepared in accordance with the accounting policies sel out in note I to the accounts
and comply with the Trust's goveming doeum8nt, the Charities Act 2011 and "Accounting and Reporting by
Charities.. Statement of Rets)mmended Piacti¢e applicable lo charities preparing their acLounts in ac(x)rdance
with the Financial Reporting Standard applieable in th8 UK and Republic of Ireland {FRS 102}" las amended
for accounting periods commencing from 1 January 20161
Objoctives and activities
The Trusvs objects are to provide cottage homes to aged persons of Darnven. The poliue5 adopted in
furtherance of these objects are to maintain the cottages and provide comfortable accommodation at
affordable price. There has been no change in these during the year.
The Trustees have paid due regard lo gutdance issued by the Charity Commission in deciding what activities
the Trust should undèrtake.
Achlevements and perfornian¢•
During the year the Trust provided 8 cottages whi¢h were fully maintained.
Financial review
The Trust has maintained ils level of income in the yoar.
11 is the poli￿ of the Trust that unresliicled funds which have not been designated for a specific use should be
maintained at a level equivalent to be￿gen three and six month's expenditure. The Trustees consider that
reserves at this level will ensur8 that, in the event of a signrficant drop in funding, they will be able lo continue
the Trusys current activities while consideralion is given to ways in which additional funds may be raised. This
level of reseNes has been maintsined throughout the year.
The Trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are
in place to mitigate exposure to the major risks.
structur•* governanco and management
The Trust was estsblished by a charitable INSI deed on 26th July 1915. from a bequest made by the late
Timothy Lightbown who died September 1910.
The Tfustees who served during the year and up to the date of sigftature of the financial statements were..
Mr G Holden
(Deceased 25 April 20211
Mr P Jennings
Mr D J Marsd8n
Mr T Walson
Mrs B Holden
Mr R Done
(Appointed 19 October 20211
Trustees shall be appointed to fill vacancies by the Twstees al a Special Meeting of their body lo be held after
a lapse of one calendar month from the ¢)C￿rrenCe of such vacancy by a resoluts'on lo be forthwilh nolffied by
them with all propgr information lo the Charity Commission.
None of The Truslees has any benef￿81 interest in the company.
The tru$lees' report was approved by Ihe Board of Truslees.
Trustee
Dated. aq:..l.:...?l .

LIGHTBOWN COThAGE HOME TRUST
CHARTERED CERTIFIEDACCOUNTANTS. REPORT TO THE TRUSTEES ON THE
PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
LIGHTBOWN COTTAGE HOME TRUST FOR THE YEAR ENDED 31 DECEMBER 2021
In order to assist you to fvlfil your duties under tha Charities Act 2011, we have prepared for your approval the
financial statements of Lightbown Coltage Home Trust for the year ended 31 0￿mber 2021, set out on pages
3 to 12 from the eharily's accounting records and from infomialion and explanations you have givgn us.
A5 a practssing member firm of the Ass¢xiation of Chartered Certified Accountants, we are Subject to ils ethical
and other professional requirements which are detsiled at https.'IlvMv.accagiobal.comlgblenlmemberlslandardsl
rules-and-stsndardslrulebook.hlml.
This report is made lo the tharity's Trustees, as a body, in accordance with the temis of our eng8Jement letter
dated 27 August 2019. Our work has been undertaken solety to prepare for your approval the financial
statements of Lighlbown Collage Home Trust and slalo those matters that we have agreed lo state lo th
charity's Trustèes, as a Ix)dy, in this report in accordance with the requirements of the Association of Chartered
Certified Accountants as detsiled al https.'IlvMw.accaglobal.comlconlentldamlACCA Globawfechnicallfacv
techn￿al-faCtsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume re$Fonsibility to
anyone other than Lightbown Cottage Home Trust and the charity's Trustees as a body, for our work or for this
report.
It is your duty to ensure that Lightbown Cottage Home Trust ha$ kept adequate accounting records and lo
prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial posibon and
surplus of Lighlbown Cottage Home Trust. You consider that Lightbown Cottage Home Trust is exempt from the
statutory audit requirement for the year. and is not required lo obtain an independent oxaminorfs report.
have not been instructed to carry out an audit or 8 review of the fin8ncial statements of Lighlbown Cottage
Home Trust For Ihis reason, we have not verified the accuracy or completeness of the accounting records or
information and explanations you have given to us and we do not, therefore, express any opinion on the
statutory financial statements.
Hindlg Jep80n & Jonnlngs Ltd
Chartered certifi￿ Accountants
10 Borough Road
Darwen
Lancashire
BB31PL

LIGHTBOWN COThAGE HOME TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
Unre8ti1Ct￿ Unrestricted
funds
funds
2021
2020
Other trading activities
Investments
Other income
18,952
6,298
200
18,548
7,652
Total incomo
25,448
26,200
Charitable activities
21,842
15.836
Net gainslllosses) on investments
10
17,997
113,392)
Not movem•nl in funds
21,603
13,028)
Fund balances at 1 January 2021
257.156
260,184
Fund balanc08 at 31 December 2021
278,759
257,156
The statsment of financial aclivitias indudes all gains and losses reccgnised in the year.
All income and expenditure derive from continuing activitw.

LIGHTBOWN COTTAGE HOME TRUST
BALANCE SHEET
ASAT31 DECEMBER 2021
2021
2020
Notès
Fixgd assets
Tangible assets
Investsnents
11
12
28,595
214,746
28,899
190,639
243.341
219.538
Currgnt a880ts
Debtors
Cash at bank and in hand
13
1,222
35,732
1,301
37.453
36,954
38,754
Croditors: amount8 falllng due wlthln
ono year
14
(1,5361
(1.1361
Net current assets
35,418
37,618
Total assets l•s* curront liabllltlos
278,759
257,156
Ineome funds
re
Designaled funds
General unreslricled funds
Revaluation reserve
15
62,435
139,281
77,043
63,546
134.564
59.046
278,759
257,156
278.759
257,156
The accounts were approved by the Trustees on ..
Trustee
Trustee

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accountlng pollcles
Charlty inforniation
Lightbown Cottage Home Trust 1$ a Trust whieh was established by a charitable deed on 26th July 1915.
The principal addresg Is 29 Sunnymerè Drive, Darwen, Lancashire, BB3 1 RH.
1.1 Accounting convention
The accounts have been prepared in accordance with the Trust's governing dceumenl. the Charities Act
2011 and "Accounting and Reporting by Charities: Slalement of Recommended Practice applic8ble to
ehariti&s preparing their accounts in accordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland IFRS 102}° las amended ft)r accounting periods commencing from 1 January
2016). The Trust 1$ a Public Benefit Entity as defined by FRS 102.
The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update
Bulletin 1 not to Pfepaie a Statement of Cash Flows.
The fi'nancial $Èalemenl8 are prepared in sterling, which is the functional currency of the Trust. Monetary
amounts in these financial statements are rounded to the nearest £.
The accounts have been p￿pared under the historical cost convention, modrfied to include the revaluation
of freehold properties and to include investment properties and certain finanaal instruments at fair value.
The principal accounting policies adopted are set out below.
1.2 Going concorn
At the lime of approving the financial slalements. the Trustee8 have a feasonable expectation that the
Trust has adequate resources to continue in opemlional existen￿ for the foreseeable future. Thus the
Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charltablo funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their ¢haritable
objectives.
Endowment frjnds are subject to sp8¢ific conditv)n$ by donors that the capital must be maintained by the
Twst
1A Incoming rosource8
Income is recognised when the Trust is legally entitled lo it after any performonce conditions have been
met, the amounts ean be measured raliably, and it is probable that inwme will be received.
Cash donations are recogni8ed on receipt. Other donations are recognised once the Trust has been
notrfied of the donation, unless performance conditions roquire deferial of th8 amount. Income lax
recoverable in relation lo donations received under Gift Aid or deeds of covenant is recogni58d at Ihe time
of the donation.
Legacies a￿ recognised on receipt or otherwise if the Trust has been notified of an impending distribution.
the 8mounl is known, and receipt is expected. If the amount is not known. Ihe legacy is treated a$ a
contingent assel.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts
receivable for goods and services provided in the normal course of business, net of discounts. VAT and
othor sales related taxes.

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Accountlng policies
(Contlnuedl
1.5 Resou￿9$ expondad
All expenditure is aecounted for on an aLxruals basis and applied under the appropriate heading. Liabilities
are recognised as resources expended as soon ag the obligation and commitment by the Charity to the
expenditure arises.
1.6 Tangiblg Ilxod a888ts
Tangible fixed assets are inrtially measured at cost and subsequently measured at ¢0St or valuation, net of
depreciation and any impairment losses.
Dgpreciation is recognised so as to write off the cost or valuation of assels less their residual values over
theif useful lives on the following bases..
Land and buifdings
1% 5traighl line
The gain or loss arising on the disposal of an asset is dgtermined as Ihe difference befvleen the sale
proceeds and the carrying value of the asset, and is recognised in net incomellexpendilurel for the year.
1.7 Flx¢d asset Inv08tments
Fixed asset investsrenls are initially measured al ttansaclion prtce oxcluding 1ransacb.on costs, and are
subsequently measured al tsir value al each reporting dale. Changes in fair value are lgcognised in
incomel{expenditurel for the year. Transaetion costs are expensed as incurred.
1.8 Impairni•nt of fixod assets
At each reporting end date. the Trust reviews the carrying amounts of ils tangible assets to determina
whether there is any indication that those assets have suffered an impairment loss. If any such indication
e￿$ts, the recoverable amount of the asset is eslimaled in order to determine the extent of the imFRirmenl
ss {rf any).
1.9 Cash and eash equivalonts
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-terni liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are
shown within borrowings in ¢urcont liabilities.
1.10 Flnanclal instruments
The Trust has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are rgcognised in the Trusf5 balance sheet when the Trust becomes paty to the
¢ontractU81 provisions of the instrument.
Financial a58ets and liabilities are offset. with the net amounts presented in the finaneial statements, when
there 15 a legally enforceable right to set off the recognised amounts and there is an intenb'on to settle on
net basis or to realise the gs$et and settle the liability simultaneously.
8￿1¢ financial assets
Basic financial assets, which in¢lude debtors and cash and bank balances, are init￿lty measured at
transaction price including transaclK)n costs and are subsequently caNied al amortised cost using Ihe
effective interest method unless th8 arrangement conslilules a financing transaction, where the transaction
is measured at the present value of the future receipts discounted at 8 market rate of inte￿8t. Financial
assets dassffied as ieceivable within one year are not amortisgd.

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Aocountlng pollcl•8
(Contlnued)
Basic financlal Ilabilities
Basic financial liabilities, including creditors and bank loans are ini11811y recognised al transaction price
unloss Ihe arrangement eonstilutes a financing transaction, where the debt instrument is measured at the
present value of the future payments discounted at a market rate of Inte￿$L Financial liabilities classffied
as payable within one year are not amortised.
Debt instruments are subsequently carried at amortiS￿ co$L using the effective inlergsl rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary Cl￿r8e
of operations from suppliers. Amounts payable are classif*d as current liabilities rf payment is due within
one year or les8. If not. they are presented as non-current liabilities. Trade creditors are recognised ini(ially
at Iransaction price and subsequently measured at amortised cost using the effectr.ve interest method.
Dere¢ognition of flnancial liabilitles
Financial liabilitses are derecogni8ed when the Tru8f8 contractual obligations expire or are discharged or
cancelled.
Critical accounting estlmate8 and judgem•nt8
In the applscation of the Trusys accounting policies. the Trustses are required to make judgements.
estimales and assumptions about the carrying amount of assels and liabilities that are not readily apparent
from other sources The estimates and associated assumptions are based on historical experience and
other factors Ihat are considered to be relevant. Actual results may drffer from these estimates.
The estimates and underlying assumptions are r8viewed on an ongoing basis. Revisions to accounting
estimates are recognised in the pgriod in which the eslimalg is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Other trading activlt1•8
Unrestrictad Unrestricted
funds
funds
2021
2020
Maintenance Contributions
18,952
18.548

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Inv8Stments
Unro$tri¢tod Unrestricted
funds
funds
2021
2020
Income from listed invegtments
Interest retsivable
6,264
32
7,619
33
6,296
7,652
Other incom•
Unrn8tricted
fuThd$
Total
2021
2020
Other income
200
6 Charltable activitles
Housing
provision
2021
Housing
provision
2020
Service costs
Day lo day maintenance
2,944
15,402
2,896
9.518
18,346
12.414
Share of govem8nce costs (see note 71
3.496
3.422
21,842
15.836

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Support costs
Support Gov•man
costs
¢08ts
2021
2020 Basis of allocation
Depreci*ion
304
304
304
Accountan
Clerks honorarium
Sundry
Management
888 Govemance
1,466 Governan
268 Govemanee
496 Governance
1.488
659
499
1,488
659
499
3.496
3,496
3.422
Analysed between
Charitable actNities
3,496
3,496
3,422
Governance ￿$ts includes paymonts to the accountants of £546 {202￿ £888}
for aecountsncy fees.
Trustee8
None of the Trustees lor any persons connected with them) received any remuneration durin9 the year.
Employees
The average monthly number of employees during the year wa$:
2021
Number
2020
Number
Total

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
10 Not galn81{1066e8) on invostsnents
2021
2020
Revaluation of inveslments
17,997
{13,3921
11 Tanglblo fixed a8Sfrt8
Land and bulldlnos
Cost
Ai 1 January 2021
30,420
Al 31 December 2021
30,420
Depreciation and Impairnlgnt
Al 1 January 2021
Dgprecialion charged in the year
1,521
304
At 31 Detsmber 2021
1,825
Carrylng amount
At 31 December 2021
28,595
At 31 December 2020
28,899
12 Flxed assot investments
Unlistod
inve#tm•nts
Cost or valuatlon
At 1 January 2021
Additions
ValuatM)n changes
190,639
6.110
17,997
At 31 DeCem￿r 2021
214.746
Carrying amount
At 31 Oecember 2021
214,746
At 31 t)eeember 2020
190,639
10-

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
13 Debtors
2021
2020
Amounts falllng due within one yoar:
Trade debtors
Prepayments and accrued income
176
271
1.030
1.222
1,301
14 Cr•dltorn: amounts falling due withln one year
2021
2020
A￿r￿al$ and deferred income
1,536
1,136
15 0g$ignatod fund$
The income fvnds of the charity includ¢ the following designated funds which have been sel aside out of
unrestricted funds by the trustees for specific purposes..
B#lanc• at
1 jan￿ary 2020
Re¥ourc88 Investrn•rts Balance at R•sources Inv8stsngnts Bala￿+¥¢
exp•nd8d yins11088881 J2nuary 2021
•xpondod galnBlloBMs 31 DKembor
2021
Major Repair
Rgserve
60,290
{4.200}
7,456
63.546
17,2211
6.110
62,435
60.290
14,2001
7,456
63,546
{7,2211
6,110
62,435
11

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
16 Value lor Mongy Mgtrfcs IVFMI: AS rnqulrod by the Regulalor of Soclal Hou8ing (June 2019)
M8asurgs of Economy. Efficioncy and Effèctrvènes8
2021
2019
Reinveslme*n* % -Amounls spent on new properties as
% of existing tangible fixed asset value
New Supply %-Number of new properties acquired a5 a
of existing properties owned
a. Social Housing Units
b. Non Social Housing Units
0%
Gearlng Whow much of assets is made up of dgbl. This
result may be negative where the Provider has no loan
agreements in place
-1.25%
-1.29%
EBITDA MRI Inlerest Cover %-level of eamings (before
tax, depreciation, amortisats'on, major repairs included)
compared to interest payable (financing Costs)
0%
Headline Social Housing Cost-lotal annual running costs
per Social Housing Unit owned
£2,692
£1,941
Opefaling Margin %-operating surplus as a % of total
income
a. Social Housing Letting
b. Overall
1.14%
1.14%
-0.16%
1.16%
Retum on Capital Employed Okn-operating surplu$ a$ a %
of net current assets employed
0.07%
-0.01%
17 Relatod party transaGtion8
There were no disdosable related paty transactions during the year12020 - none).
12-

##