Charlty ¥g918tratlon n￿rn￿r 237066
LIGHTBOWN corrAGE HOME TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

LIGHTBOWN corrAGE HOME TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr P Jennings
Mr D J Matsden {vice char)
Mr T Watson
Mrs B Holden {chair
Charlty numb•r
237056
Prln¢ipal addre8B
29 Sunnymere Drive
Darwen
Lancashire
B831RH
Accountsnts
Hindle Jepson & Jenning$ Ltd
10 Borough Road
Darwen
Lancashire
BB3 1PL
Bankers
Natlonal Westminster Bank plc
35 King Wlliam Street
Blackburn
Lanca5hire
B817DJ

LIGHTBOWN corrAGE HOME TRUST
CONTENTS
Page
Truslee$' report
Acowntanls, report
Statement of financial activities
8aiance sheet
Note5 to the financial stslements
5-12

LIGHTBOWN corrAGE HOME TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual repc*l and financial stslemenls for the year ended 31 December 2024.
The accounts h8ve been prepared in accord8[￿ With the ac¢ounling policies sel out in note 1 to t￿ acCo￿lS
and CoM￿Y wlth th& Tnjsfs governing documerrt, the Chartties Act 2011 and 'Accounting and Rewting by
Charities.. Statement of Recommended Practic8 applicable to charities preparing their accounts in accordance
with the Financial Reports'ng Stsndard appllcable in the UK and Rewblic of Ireland IFRS 1021" las aTh*nded for
accounfing periods commenang fr¢yn 1 January 2016)
Objectives and actlvhles
The Trust's objects are lo provide self-sufficienl, low cost communrty housing ¢ottagg homes to aged persons of
Darwen. The poliaes adopted in furtherance of these objects are lo maintain the cottages and pmvide
comfortable accommodation for local people at an affordable price. There has been no change in those durin9
the yaar.
The Trustees have paid due regard lo guidance i38ued by the Charty Commission. Charitsbfe aclivrties are set
by the Trust deed.
Achlevements and p•rfom)ance
During the year the Trust provided 8 cotta9e5 for independent Ilving whlch were fvlty maintained and ￿¢upied.
with no empty properties. no vacancies, and no loss of income in the year.
Fln•nclal revlew
The Trust has maintained ils level of u)come in the year.
It is the pdicy of the Trust that Unr￿tricted fuThJ$ vthith have ￿1 b￿} designated for a spedfic u8e $hould be
maintained at a level equivalent to lkneen three and six month's expenditure. The Trustees consider that
reserve5 * this level wll ensure that. in the event of a significant drop in fijnding. they ￿11 be able to continue the
Trust's curranl octivibes while consideration is given lo ways in which additional funds may be raBed. This ￿Ve1
of res8rv&s has been mainlained and exceeded throughout the year.
The Trustèes have as88S88d the major risks lo which the Trust Is exposèd, and are satisfjed that systems are in
place lo miligale exposure lo the major risk$.
Structur•. govèrnance and management
The Trust was established by a charitable trust deed on 26th Juiy 1915, fr(xn a bequest made by the late Timothy
Lightbown dled September 1910.
The Trustees setved durtng the year and up to the date of signalure of the financ￿1 statements were..
Mr P Jennings
r D J Marsden (vic8 chairl
Mr T Watson
Mrs B Holden (chalr}
Mr R Done
IRe51gned 28 February 2025)
Twstses shall be app)inted to fill vacanae8 by the Trustees at a Special Meetsng of Iheir booy lo be held after a
lapse of one calendar month from the occurren¢e of such vacancy by a resolulion lo be forthwiih notifiod by them
wilh all propoT irrformation to the Charrty comm￿S1on.
None of The Tnjstees has any beneficial interest in the company.
The Iruslees. report was approved by the Board of Trustees.
Twstee
Dated..

LIGHTBOWN CO￿AGE HOME TRUST
CHARTERED CERTIFIED ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE
PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
LIGHTBOWN corrAGE HOME TRUST FOR THE YEAR ENDED 31 DECEMBER 2024
In order to assist you lo fulfil your duties under the Cl)arEIEs Act 2011, we have prepared for your approval 11
financial statemants of Lightbown Cottage Home Trust for Ihe year ended 31 December 2024, set ryjt on pages 3 10
12 from the charity's accounting records and ftom information and explanalk*ns you have given us.
As 8 praclising mern￿r firm of the Assoctation of Chartered Cgrtrfied Accountant$, we are subject lo its ethical and
other professional requirements ￿lch are detailed at https.'Ilwvhv.accaglobal.eomlgbl8nlmemberlstandardslrule8-
and-stsndardslrulebcok.html.
This reptsrt 1$ made lo the charty's TTUStees, as a body, In accordance with the terms of our enwement J8ttgr
dated 27 August 2019. Our work has been undertaken solely lo prepare for your approval the )Inanci81 ststemenls
of Lightbom Cottage Home Trust and state those mattets that we have agreed lo state to the charilyb Trustees, as
a body. Sn this report in accordance with the requirements of the Association of Chartered CertifiedAccountanls as
detailetj at https.'Ilw￿.acc99Io￿aI.c0mlr0nlentIdamIACCA_GIobal￿eChnlcavfa(￿￿eChnlca1-IaC1sheeI-163.pdf. To
th& lullest extent permitted by law, we do not accept or assume responsibility lo any¢)ne other than Lightbown
Cottage Home Trust and th& charity's Trusle8s as a body, for Quf work or for this report.
11 is your dLrty to ensu￿ that Lighlt¥)wn Cottagè Home Trust has kept adequate accounting records and to prepaie
stslutory financi81 statsments that give a true and fair view of the assets, liabilitie5, financial position and surplus of
Lightbown Collage Home Trust You considei that Lighlbown Cottage Home Trust is exempl from thè statutory audit
fequirement for tha year, and Is not required lo obtain an indgp8ndenl examine¢s report.
We have not been Instructed lo cary out an audit or a re¥￿W of the (Inarrial statemonts of Llghtbown Cott8ge
Home Trust. For this reason. we have not verrfied the accuracy or compielenes5 of the accLiunling re￿rdS or
Infomation and explanations you have given to us and we do ngl, therefore, express any opinion on the stalLrtory
financk418ts1ements.
Hlndle Jepson & J8nnlng8 Ltd
Is)ZCi ZS
Chartered Certifigd Accountsnts
10 Borough Ro&J
Darwen
Lanca5hFre
BB3 1PL

LIGHTBOWN COTTAGE HOME TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOMEAND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrgstrlcted Unrpstrlthd
funds
fun(J8
2024
2023
Income from:
Donations and legaaes
Charrtable *￿￿tIeS
Investments
6,000
22.443
9,388
11,900
21,832
8,736
Total Incomè
37,831
42,268
Expendlturg on:
Charitable 8Ctivities
35,709
23,OC
Total eX￿ndI￿re
35,709
23,006
Net 9ainslllo$sesl on investments
10
8.629
4,622
Net Income and movgment In funds
10.751
23.884
Reconclllatlon of funds:
Fund balances at 1 January 2024
300,501
276,617
Fund balances at 31 December 2024
311,252
300.501
The stslement of financial activ￿e5 includ9$ all gains and losses recognised in the year. All income and expenditure
derive fTom ￿ntinUing acts'wlies.

LIGHTBOWN COThAGE HOME TRUST
BALANCE SHEEr
ASAT 31 DECEMBER 2024
2024
2023
Notes
Flxed assets
TangikJe assets
Investments
12
13
27,682
246,505
27,987
228,642
274.187
256.629
Current assets
Debtors
Cash at bank and in hand
14
1,272
36.943
1.232
43.872
38,215
45.104
Credltors: amounts falllng due within
one year
15
11.150)
(1.232)
Net current asse18
37,065
43,872
Totsl assets less current Ilabllltles
311,252
300,501
Income funds
nr
Designated funds
General unrestricted fvnds
16
58,948
252.3C6
66.730
233,771
311.252
300,501
311,252
300,501
The accounts were approved by thè Truslees on .....
Trustee
Tru
ee

LIGHTBOWN COTTAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting polici88
Charlty Informatlon
Lightbown Cottage Home Trust is a Trust thich was estsblished by a charitable deed on 261h July 1915. The
prinopal addi&ss is 29 Sunnymere Drive. DaN￿n, Lancashire, BB3 1RH.
1.1 Accounting convgntlon
The accounts have been prepared in accordanee wlh the Trust's goveming document, the Charities A¢1 2011
and 'Ac(x)unling and Reporting by Charitiès.. Statement of Recommended practic￿ applicable to Charities
preparing Ihelr aecourrts in accordan￿ ￿th the Financial Repot*"ng Standard applicable in the UK and
Rep￿blIC of Ireland IFRS 102). las amended for accounb'ng periods comm8ncing from 1 January 20161. The
Trust is a Public Benefit Enty as define(f by FRS 102.
The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin
1 not to prepare 8 Ststemenl of Cash Flow5.
The finanaal 5talements are prepared In sterling. which is the funth'onal curreno of the Trust. Monetary
amounts in these financial slalements are rounded to the nearest £.
The aee£Junts have been prepared under the hist￿lca1 cost convention, modffied lo Indude the revduthon of
freehold properties and to include Investment prO￿rtieS and certain financial instruments at fair value. The
prinapal accounting policies adopted are set out below.
1.2 Going conc•rn
Al the lirne ol approving th8 financial stslements. the Trustees have a reasonable eypectation that the Trt￿l
has adequate resources lo continue in operational e￿Stence for the foreseeable future. Thus the Trustees
continue to adopt th8 going concem basis of accounting in PTeparing the financial statements.
1.3 Charttable funds
Unrestricted funds are available for use al the diSCret￿n of the Trustees In furtheran￿ of Ihair charits￿e
obieclives.
Endowment funds are subject lo speufi¢ eondition5 by donm th81 the capital musl be maintained by the
Trust
1.4 Incomlng resouicos
Income is recognised when the Tnjst is legally enlilled lo it after any perfomiance conditions have been rnet,
the amounts can be measured reliaLly. and it is probable that income wll be received.
Cash donations are reccgnised on receipt. Other donation$ are recognis8d once the Trust has been rLitlfied
of the donation, unless performance condttions require defgrral of the amount. Income tax iecoveiable in
relation to donations received under Gift Aid or deed$ of covenant is recognised at the bme of the donats'on.
Legacie5 are recognised on re￿ipt or otherwise rf the Trust has been notified of an impending distribLrtion, the
amount Is known, ￿lpt is expected. If the amount is not krwn, the legacy is treated as a contingent
asset. There are no legacies received ty the Trust.
Interest on investrnenl fvnds held on depos￿ Is I￿ude￿ when receivable and the amount be measured
reliably, this is normalty UFon notffication of th8 interest paid or payable by the fun¢Y management company
andlor the bank.
Turnover is measured al the fair value ol the considerathm r8ceN8d gr rgceivable and repiesenls amounts
recelv8ble for goods and services prOV￿ed in the nornial course of charitsble ath"vty, excluding any discoun15
or rebates.

LIGHTBOWN corrAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng poli¢ios
(Contlnued)
1.5 Resources expendod
All expenditure is accounted for on an accruals basls and applied under the appropriate heading. Liabilities
are recognised as resources expanded as soon as the obligation and commitment by the Chèrity to the
expenditure arises.
1.6 Tanglble fixed a¥¥ets
Tangible fixed assets are inilialty stated at ¢ost and subsgqugnlly staled al cost or valuation. net of
depreciatlon and any impairment losses.
Depreclatlon Is rewrwsed so as lo write off the eost or valuation of assets less their residual values over their
useful Ilves on the follov*irrfJ bases..
Land and buildings
1 % stralght line
The gain or loss arising on the disposal of an asset is determined a5 the difference between the sale
proceeds and the carying value of thè asset, and 1$ recognised in the slalement ot financial activities.
1.7 Flxed assot Inveslments
Fixed asset investments are initslly reccgnised at transaction yico axduding transaction costs, and are
sUbseqUen￿Y measured at fair value al each reporting date. Changès in fair value are recognis8d in not
jncornellexpendilure} for the year. Transaction c08t8 are recorded as incurred.
1.8 Impairmont of fixed as$ets
Al each reporting end dalo, the Tiust revlews the carying amounts of its tangible assets lo detemiine whelher
there is any indication that those assets have suffered an impairment loss. 11 any such indication exists. the
recoverable amount of the ass81 is estimat￿ in order to determine the extent of the impairment bss lif any).
1.9 Cash and cash equlvalents
Cash and cash equivalents include cash in hand. deposhs held at call wlh banks, other short-tenn liquid
investments with original maturrties of three months or less, and bank overdrafts. Bank overdrafts are shown
wilhin borrowng5 in currenl Ilabilities.
1.10 Flnanclal Instruments
The Trust has elected lo ap￿Y the prowsions of Section 11 '8asic Financial Instruments. and Section 12
'Olher Financial Instrurnents Issues, of FRS 102 to all of ils financial instruments.
Financial InstnJmènls are wognised in the Trust's balance shgel when the Trust becomes paty lo the
contractual provisions of the instrument.
Financial assets and liats'lilies are off3et, wlh the net amounts presented In the financial slatements, when
there is a legally enforcèable right lo set off the recognised amounts and there is an intention lo settle on a
net basis Of to reali58 the asset aTrJ setue the liability simultaneously.
Basic flnanelal assèts
Basic financial asset5, which I￿Ude deblofs and cash and bank balances. are Initially measured at
transadton price including transaction costs and are subsequently carried al amortised cost usiThJ the
effective interest method unless the arrangemenl constitutes a financing transaction, where the transaction is
measured al the P￿sent value of the lulure r￿1p1S discounted al a market rale ol interest. Finanryal assets
dassified as reGewable within one year are not amortised.

LIGHTBOWN COTTAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
Accounllng poll¢les
(Continuod
Basic ffn8n¢iJlliobllitles
Bagie finaneial liabilities, 1ndL￿Ing creditors and bank loans are initially recognised at transaction prlce unless
the arrangement constitutes * financing transaction, Whe￿ the debt instrument is measured at the present
value of the fthure payments discounted at a market rate of interest. Flnaneial Ilabilitiès cl8$$ffjed as payable
withln ¢)ne year are not amortised.
Debt instruments are sub8equentty caThi8d at amortisod cost, using the effective interest rate method.
Trade creditor8 are obligatk)ng to pay for gcod$ or 6ervices Ihat have teen acquired in the or(Ilnary course of
OP8ralions trom suppllers. Amunls payable are classified as current liabilities rf payment is due within one
year or less. If not, they are presented as non-currenl liatxlilies. Trade creditors are rewgnised initially al
transaction price 8nd subsequenty measur8d at aM0￿'S￿d cost using the effective interest metlKKI.
Derecognition of finan¢lo1 Ilabllltles
Financial liabilities are derecogni$ed vknen Ihe Tnjst's contractual obligations expire or are discharged or
ncelled.
Crltlcal accountlng estimatès and Judgements
In the application of the Trust's accounting policies. the TnJ8tees 8re requjred lo make judgements. estimates
and assumptions about the carrying amount of assets 8nd liabilities that are not readily apparent from other
sources. The estimate5 and asS￿l0t¢d assumw'ons are based on historical experiencR and olhgr factors that
are o)nsidered to be relevant. Actual results may dffter frc4n these estimates.
The esllmales and undertyiny assumptions are reviewed ￿ an ongoing ba818. Revi8ion8 10 accounting
estimates are recognised in the period in whith the ostimale is rewsed where the rewsioft affects (nly that
period, or in the period of the revÈsion and futur8 periods where the revision affects both current and fvlure
periods.
Donailons and1ogaGF95
Unrestrictsd Unrgstrlcted
funds
fvnds
2024
2023
Donali¢J)s and gifts
6,DOO
11,900
Income from Gharitablfj activitie8
Unrestsl¢ted Unrestrlcted
funds
fund$
2024
2023
Maintenance Contributsons
22,443
21.632

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
In¢ome from Inve8tmenls
Unreslrlcted Unrestriet•d
nds
funds
2024
2023
Income from listed investments
9,388
8,736
6 Charitable activities
Houslng
provision
2024
Housing
provlslon
2023
SerV￿e costs
Day to day maintenance
3,493
27.607
3,272
15,642
31,100
18,914
Share of govemance cos15 {se8 noto 71
4,609
4,092
35.709
23.006
Support costs
Support Govamance
costs
2024
2123 8a51s of allocatlon
DePre￿ation
304
304
304
Accountancy
Clerks honorarium
Sundry
Management
852
1,704
852
1.704
845
762 Govemance
1,656 Govemance
828 Governan
542 Governance
904
4,S09
4.609
4,092
Analysed be￿n
Charilabte aeb"vrties
4.609
4,609
4,092
Govemance costs indL•Je$ payments lo the accountants of £852 (202> £762)
for accountancy fees.
Trustees
None of the Tfuslees lor any persons CDnn8ctod with them) received any remuneration during the year.

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Employee$
The av8Tage monlhty number of emkloyees during ts year was:
2024
Nurnbgr
2023
Number
Total
There were no •m￿oyees whose annud remuneration wa$ more than £60,000.

LIGHTBOWN CO￿AGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Plot galnslllos$esl on Investhionts
2024
2023
Revaluation of Investments
8,629
4.622
11 Taxallon
The charty is exempl from taxation on its activtties because all its ints)me is appl￿d for charitable purposes.
12 Tanglble flxed as$ots
Land and
buildin
Cost
Al 1 January 2024
30,420
At 31 December 2024
30.420
Deprgclatlon and Impalment
At 1 January 2024
Dppreciatson charged In the year
2,434
304
At 31 Decemter 2024
2.738
Carrylng amount
Al 31 Decembgr 2024
27.682
At 31 Decemter 2023
27.987
13 Flxed asset investments
Unllsted
Investments
Cost or valuatlon
At l January 2024
Additions
Valuation ch8ngey
228.642
9,234
8,629
At 31 December 2024
246.505
Cayrylng amount
At 31 Dec8rnbor 2024
246,505
At 31 DeCeM￿r 2023
228,642
10-

LIGHTBOWN CO￿AGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14 Debtorn
2024
2023
Amounts falllng due within one year:
Prepayments and a￿rUed incom&
1.272
1,232
15 Crnditors: amounts falllng due wEthln one year
2024
2023
Accruals and deferred income
1,150
1,232
16 Unrestrlctgd funds
The unreslricled funds of the tharity eomprise the unexpended balances of donations and grants ￿lch are
not subjact lo specific conditions by donors arKI grantors 8s lo how they may be used. These include
designatsd lunds whiL* have ts9￿ sel aside out of unrestricted lund8 by the trustees for speufie purposes.
At 1 January
2024
Incoming
rnsources
Resources
•xwnd•d
Galns and
losses
At31
December
2024
Major Repair Reserve
General funds
66.730
233,771
9,234
28,597
{17,0181
118,6911
8,629
252,3C6
300,501
37,831
(35,7091
8,829
311,252
Provlous year:
At 1 January
2023
Incomlng
regources
Resources
expended
Gains and
losses
At31
December
2023
Major Repair Reserve
General funds
65.345
211,272
8,582
33,686
17,197}
(15,8091
66,730
233.771
4,622
276.617
42,268
23,006
4,622
300,501
Included wlhln general funds is £83.17612023.. £74,547> in relation to the revalualion of investments which is
unrealised.

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
17 Value for Money Metrics IVFMI: As raquired by thg Regulator of Social Housing (June 20191 Measuyes
ol Economy. Efllclgncy and Effectlveness
2024
0%
2023
Reinvestment % -Amount$ spent on now propert￿$ as a
% of existing tsngible fixed asset value
New Supply %-Number of new acqulred as a %
of existing properties owned
Social Housing Units
b. Non Social Hou8ing Units
0%
Gearing %-how much of assets is made up of debt. This
result may be negative where the Provider trAs no k)an
agreements in place
-1.33%
-1.57%
EBITDA MRI Interest Cover %-level of eamings (before
tsx, depreciatlon, afflortisation, major repairs included}
compared to interest ptyable (financing costs)
Headline Social Housing Cost-lolal annual running costs
per Social Houslng Unk owned
£4,426
£2,838
Operating Margin %-OP9ratirvJ surplus as a % of total
income
a. Soaal Hou&'ng Lettiryd
b. Overall
0.46°
0.28%
1.10%
0.71&
Retum on Caplt81 Employed %-operating surplus as a %
of nel current assets employed
0.03%
0.08%
18 Related party transactions
There were Th) disdosable rdated party transactions during the year {2023- none).
12

Charlty ¥g918tratlon n￿rn￿r 237066
LIGHTBOWN corrAGE HOME TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

LIGHTBOWN corrAGE HOME TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr P Jennings
Mr D J Matsden {vice char)
Mr T Watson
Mrs B Holden {chair
Charlty numb•r
237056
Prln¢ipal addre8B
29 Sunnymere Drive
Darwen
Lancashire
B831RH
Accountsnts
Hindle Jepson & Jenning$ Ltd
10 Borough Road
Darwen
Lancashire
BB3 1PL
Bankers
Natlonal Westminster Bank plc
35 King Wlliam Street
Blackburn
Lanca5hire
B817DJ

LIGHTBOWN corrAGE HOME TRUST
CONTENTS
Page
Truslee$' report
Acowntanls, report
Statement of financial activities
8aiance sheet
Note5 to the financial stslements
5-12

LIGHTBOWN corrAGE HOME TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual repc*l and financial stslemenls for the year ended 31 December 2024.
The accounts h8ve been prepared in accord8[￿ With the ac¢ounling policies sel out in note 1 to t￿ acCo￿lS
and CoM￿Y wlth th& Tnjsfs governing documerrt, the Chartties Act 2011 and 'Accounting and Rewting by
Charities.. Statement of Recommended Practic8 applicable to charities preparing their accounts in accordance
with the Financial Reports'ng Stsndard appllcable in the UK and Rewblic of Ireland IFRS 1021" las aTh*nded for
accounfing periods commenang fr¢yn 1 January 2016)
Objectives and actlvhles
The Trust's objects are lo provide self-sufficienl, low cost communrty housing ¢ottagg homes to aged persons of
Darwen. The poliaes adopted in furtherance of these objects are lo maintain the cottages and pmvide
comfortable accommodation for local people at an affordable price. There has been no change in those durin9
the yaar.
The Trustees have paid due regard lo guidance i38ued by the Charty Commission. Charitsbfe aclivrties are set
by the Trust deed.
Achlevements and p•rfom)ance
During the year the Trust provided 8 cotta9e5 for independent Ilving whlch were fvlty maintained and ￿¢upied.
with no empty properties. no vacancies, and no loss of income in the year.
Fln•nclal revlew
The Trust has maintained ils level of u)come in the year.
It is the pdicy of the Trust that Unr￿tricted fuThJ$ vthith have ￿1 b￿} designated for a spedfic u8e $hould be
maintained at a level equivalent to lkneen three and six month's expenditure. The Trustees consider that
reserve5 * this level wll ensure that. in the event of a significant drop in fijnding. they ￿11 be able to continue the
Trust's curranl octivibes while consideration is given lo ways in which additional funds may be raBed. This ￿Ve1
of res8rv&s has been mainlained and exceeded throughout the year.
The Trustèes have as88S88d the major risks lo which the Trust Is exposèd, and are satisfjed that systems are in
place lo miligale exposure lo the major risk$.
Structur•. govèrnance and management
The Trust was established by a charitable trust deed on 26th Juiy 1915, fr(xn a bequest made by the late Timothy
Lightbown dled September 1910.
The Trustees setved durtng the year and up to the date of signalure of the financ￿1 statements were..
Mr P Jennings
r D J Marsden (vic8 chairl
Mr T Watson
Mrs B Holden (chalr}
Mr R Done
IRe51gned 28 February 2025)
Twstses shall be app)inted to fill vacanae8 by the Trustees at a Special Meetsng of Iheir booy lo be held after a
lapse of one calendar month from the occurren¢e of such vacancy by a resolulion lo be forthwiih notifiod by them
wilh all propoT irrformation to the Charrty comm￿S1on.
None of The Tnjstees has any beneficial interest in the company.
The Iruslees. report was approved by the Board of Trustees.
Twstee
Dated..

LIGHTBOWN CO￿AGE HOME TRUST
CHARTERED CERTIFIED ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE
PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
LIGHTBOWN corrAGE HOME TRUST FOR THE YEAR ENDED 31 DECEMBER 2024
In order to assist you lo fulfil your duties under the Cl)arEIEs Act 2011, we have prepared for your approval 11
financial statemants of Lightbown Cottage Home Trust for Ihe year ended 31 December 2024, set ryjt on pages 3 10
12 from the charity's accounting records and ftom information and explanalk*ns you have given us.
As 8 praclising mern￿r firm of the Assoctation of Chartered Cgrtrfied Accountant$, we are subject lo its ethical and
other professional requirements ￿lch are detailed at https.'Ilwvhv.accaglobal.eomlgbl8nlmemberlstandardslrule8-
and-stsndardslrulebcok.html.
This reptsrt 1$ made lo the charty's TTUStees, as a body, In accordance with the terms of our enwement J8ttgr
dated 27 August 2019. Our work has been undertaken solely lo prepare for your approval the )Inanci81 ststemenls
of Lightbom Cottage Home Trust and state those mattets that we have agreed lo state to the charilyb Trustees, as
a body. Sn this report in accordance with the requirements of the Association of Chartered CertifiedAccountanls as
detailetj at https.'Ilw￿.acc99Io￿aI.c0mlr0nlentIdamIACCA_GIobal￿eChnlcavfa(￿￿eChnlca1-IaC1sheeI-163.pdf. To
th& lullest extent permitted by law, we do not accept or assume responsibility lo any¢)ne other than Lightbown
Cottage Home Trust and th& charity's Trusle8s as a body, for Quf work or for this report.
11 is your dLrty to ensu￿ that Lighlt¥)wn Cottagè Home Trust has kept adequate accounting records and to prepaie
stslutory financi81 statsments that give a true and fair view of the assets, liabilitie5, financial position and surplus of
Lightbown Collage Home Trust You considei that Lighlbown Cottage Home Trust is exempl from thè statutory audit
fequirement for tha year, and Is not required lo obtain an indgp8ndenl examine¢s report.
We have not been Instructed lo cary out an audit or a re¥￿W of the (Inarrial statemonts of Llghtbown Cott8ge
Home Trust. For this reason. we have not verrfied the accuracy or compielenes5 of the accLiunling re￿rdS or
Infomation and explanations you have given to us and we do ngl, therefore, express any opinion on the stalLrtory
financk418ts1ements.
Hlndle Jepson & J8nnlng8 Ltd
Is)ZCi ZS
Chartered Certifigd Accountsnts
10 Borough Ro&J
Darwen
Lanca5hFre
BB3 1PL

LIGHTBOWN COTTAGE HOME TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOMEAND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrgstrlcted Unrpstrlthd
funds
fun(J8
2024
2023
Income from:
Donations and legaaes
Charrtable *￿￿tIeS
Investments
6,000
22.443
9,388
11,900
21,832
8,736
Total Incomè
37,831
42,268
Expendlturg on:
Charitable 8Ctivities
35,709
23,OC
Total eX￿ndI￿re
35,709
23,006
Net 9ainslllo$sesl on investments
10
8.629
4,622
Net Income and movgment In funds
10.751
23.884
Reconclllatlon of funds:
Fund balances at 1 January 2024
300,501
276,617
Fund balances at 31 December 2024
311,252
300.501
The stslement of financial activ￿e5 includ9$ all gains and losses recognised in the year. All income and expenditure
derive fTom ￿ntinUing acts'wlies.

LIGHTBOWN COThAGE HOME TRUST
BALANCE SHEEr
ASAT 31 DECEMBER 2024
2024
2023
Notes
Flxed assets
TangikJe assets
Investments
12
13
27,682
246,505
27,987
228,642
274.187
256.629
Current assets
Debtors
Cash at bank and in hand
14
1,272
36.943
1.232
43.872
38,215
45.104
Credltors: amounts falllng due within
one year
15
11.150)
(1.232)
Net current asse18
37,065
43,872
Totsl assets less current Ilabllltles
311,252
300,501
Income funds
nr
Designated funds
General unrestricted fvnds
16
58,948
252.3C6
66.730
233,771
311.252
300,501
311,252
300,501
The accounts were approved by thè Truslees on .....
Trustee
Tru
ee

LIGHTBOWN COTTAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting polici88
Charlty Informatlon
Lightbown Cottage Home Trust is a Trust thich was estsblished by a charitable deed on 261h July 1915. The
prinopal addi&ss is 29 Sunnymere Drive. DaN￿n, Lancashire, BB3 1RH.
1.1 Accounting convgntlon
The accounts have been prepared in accordanee wlh the Trust's goveming document, the Charities A¢1 2011
and 'Ac(x)unling and Reporting by Charitiès.. Statement of Recommended practic￿ applicable to Charities
preparing Ihelr aecourrts in accordan￿ ￿th the Financial Repot*"ng Standard applicable in the UK and
Rep￿blIC of Ireland IFRS 102). las amended for accounb'ng periods comm8ncing from 1 January 20161. The
Trust is a Public Benefit Enty as define(f by FRS 102.
The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin
1 not to prepare 8 Ststemenl of Cash Flow5.
The finanaal 5talements are prepared In sterling. which is the funth'onal curreno of the Trust. Monetary
amounts in these financial slalements are rounded to the nearest £.
The aee£Junts have been prepared under the hist￿lca1 cost convention, modffied lo Indude the revduthon of
freehold properties and to include Investment prO￿rtieS and certain financial instruments at fair value. The
prinapal accounting policies adopted are set out below.
1.2 Going conc•rn
Al the lirne ol approving th8 financial stslements. the Trustees have a reasonable eypectation that the Trt￿l
has adequate resources lo continue in operational e￿Stence for the foreseeable future. Thus the Trustees
continue to adopt th8 going concem basis of accounting in PTeparing the financial statements.
1.3 Charttable funds
Unrestricted funds are available for use al the diSCret￿n of the Trustees In furtheran￿ of Ihair charits￿e
obieclives.
Endowment funds are subject lo speufi¢ eondition5 by donm th81 the capital musl be maintained by the
Trust
1.4 Incomlng resouicos
Income is recognised when the Tnjst is legally enlilled lo it after any perfomiance conditions have been rnet,
the amounts can be measured reliaLly. and it is probable that income wll be received.
Cash donations are reccgnised on receipt. Other donation$ are recognis8d once the Trust has been rLitlfied
of the donation, unless performance condttions require defgrral of the amount. Income tax iecoveiable in
relation to donations received under Gift Aid or deed$ of covenant is recognised at the bme of the donats'on.
Legacie5 are recognised on re￿ipt or otherwise rf the Trust has been notified of an impending distribLrtion, the
amount Is known, ￿lpt is expected. If the amount is not krwn, the legacy is treated as a contingent
asset. There are no legacies received ty the Trust.
Interest on investrnenl fvnds held on depos￿ Is I￿ude￿ when receivable and the amount be measured
reliably, this is normalty UFon notffication of th8 interest paid or payable by the fun¢Y management company
andlor the bank.
Turnover is measured al the fair value ol the considerathm r8ceN8d gr rgceivable and repiesenls amounts
recelv8ble for goods and services prOV￿ed in the nornial course of charitsble ath"vty, excluding any discoun15
or rebates.

LIGHTBOWN corrAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng poli¢ios
(Contlnued)
1.5 Resources expendod
All expenditure is accounted for on an accruals basls and applied under the appropriate heading. Liabilities
are recognised as resources expanded as soon as the obligation and commitment by the Chèrity to the
expenditure arises.
1.6 Tanglble fixed a¥¥ets
Tangible fixed assets are inilialty stated at ¢ost and subsgqugnlly staled al cost or valuation. net of
depreciatlon and any impairment losses.
Depreclatlon Is rewrwsed so as lo write off the eost or valuation of assets less their residual values over their
useful Ilves on the follov*irrfJ bases..
Land and buildings
1 % stralght line
The gain or loss arising on the disposal of an asset is determined a5 the difference between the sale
proceeds and the carying value of thè asset, and 1$ recognised in the slalement ot financial activities.
1.7 Flxed assot Inveslments
Fixed asset investments are initslly reccgnised at transaction yico axduding transaction costs, and are
sUbseqUen￿Y measured at fair value al each reporting date. Changès in fair value are recognis8d in not
jncornellexpendilure} for the year. Transaction c08t8 are recorded as incurred.
1.8 Impairmont of fixed as$ets
Al each reporting end dalo, the Tiust revlews the carying amounts of its tangible assets lo detemiine whelher
there is any indication that those assets have suffered an impairment loss. 11 any such indication exists. the
recoverable amount of the ass81 is estimat￿ in order to determine the extent of the impairment bss lif any).
1.9 Cash and cash equlvalents
Cash and cash equivalents include cash in hand. deposhs held at call wlh banks, other short-tenn liquid
investments with original maturrties of three months or less, and bank overdrafts. Bank overdrafts are shown
wilhin borrowng5 in currenl Ilabilities.
1.10 Flnanclal Instruments
The Trust has elected lo ap￿Y the prowsions of Section 11 '8asic Financial Instruments. and Section 12
'Olher Financial Instrurnents Issues, of FRS 102 to all of ils financial instruments.
Financial InstnJmènls are wognised in the Trust's balance shgel when the Trust becomes paty lo the
contractual provisions of the instrument.
Financial assets and liats'lilies are off3et, wlh the net amounts presented In the financial slatements, when
there is a legally enforcèable right lo set off the recognised amounts and there is an intention lo settle on a
net basis Of to reali58 the asset aTrJ setue the liability simultaneously.
Basic flnanelal assèts
Basic financial asset5, which I￿Ude deblofs and cash and bank balances. are Initially measured at
transadton price including transaction costs and are subsequently carried al amortised cost usiThJ the
effective interest method unless the arrangemenl constitutes a financing transaction, where the transaction is
measured al the P￿sent value of the lulure r￿1p1S discounted al a market rale ol interest. Finanryal assets
dassified as reGewable within one year are not amortised.

LIGHTBOWN COTTAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
Accounllng poll¢les
(Continuod
Basic ffn8n¢iJlliobllitles
Bagie finaneial liabilities, 1ndL￿Ing creditors and bank loans are initially recognised at transaction prlce unless
the arrangement constitutes * financing transaction, Whe￿ the debt instrument is measured at the present
value of the fthure payments discounted at a market rate of interest. Flnaneial Ilabilitiès cl8$$ffjed as payable
withln ¢)ne year are not amortised.
Debt instruments are sub8equentty caThi8d at amortisod cost, using the effective interest rate method.
Trade creditor8 are obligatk)ng to pay for gcod$ or 6ervices Ihat have teen acquired in the or(Ilnary course of
OP8ralions trom suppllers. Amunls payable are classified as current liabilities rf payment is due within one
year or less. If not, they are presented as non-currenl liatxlilies. Trade creditors are rewgnised initially al
transaction price 8nd subsequenty measur8d at aM0￿'S￿d cost using the effective interest metlKKI.
Derecognition of finan¢lo1 Ilabllltles
Financial liabilities are derecogni$ed vknen Ihe Tnjst's contractual obligations expire or are discharged or
ncelled.
Crltlcal accountlng estimatès and Judgements
In the application of the Trust's accounting policies. the TnJ8tees 8re requjred lo make judgements. estimates
and assumptions about the carrying amount of assets 8nd liabilities that are not readily apparent from other
sources. The estimate5 and asS￿l0t¢d assumw'ons are based on historical experiencR and olhgr factors that
are o)nsidered to be relevant. Actual results may dffter frc4n these estimates.
The esllmales and undertyiny assumptions are reviewed ￿ an ongoing ba818. Revi8ion8 10 accounting
estimates are recognised in the period in whith the ostimale is rewsed where the rewsioft affects (nly that
period, or in the period of the revÈsion and futur8 periods where the revision affects both current and fvlure
periods.
Donailons and1ogaGF95
Unrestrictsd Unrgstrlcted
funds
fvnds
2024
2023
Donali¢J)s and gifts
6,DOO
11,900
Income from Gharitablfj activitie8
Unrestsl¢ted Unrestrlcted
funds
fund$
2024
2023
Maintenance Contributsons
22,443
21.632

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
In¢ome from Inve8tmenls
Unreslrlcted Unrestriet•d
nds
funds
2024
2023
Income from listed investments
9,388
8,736
6 Charitable activities
Houslng
provision
2024
Housing
provlslon
2023
SerV￿e costs
Day to day maintenance
3,493
27.607
3,272
15,642
31,100
18,914
Share of govemance cos15 {se8 noto 71
4,609
4,092
35.709
23.006
Support costs
Support Govamance
costs
2024
2123 8a51s of allocatlon
DePre￿ation
304
304
304
Accountancy
Clerks honorarium
Sundry
Management
852
1,704
852
1.704
845
762 Govemance
1,656 Govemance
828 Governan
542 Governance
904
4,S09
4.609
4,092
Analysed be￿n
Charilabte aeb"vrties
4.609
4,609
4,092
Govemance costs indL•Je$ payments lo the accountants of £852 (202> £762)
for accountancy fees.
Trustees
None of the Tfuslees lor any persons CDnn8ctod with them) received any remuneration during the year.

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Employee$
The av8Tage monlhty number of emkloyees during ts year was:
2024
Nurnbgr
2023
Number
Total
There were no •m￿oyees whose annud remuneration wa$ more than £60,000.

LIGHTBOWN CO￿AGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Plot galnslllos$esl on Investhionts
2024
2023
Revaluation of Investments
8,629
4.622
11 Taxallon
The charty is exempl from taxation on its activtties because all its ints)me is appl￿d for charitable purposes.
12 Tanglble flxed as$ots
Land and
buildin
Cost
Al 1 January 2024
30,420
At 31 December 2024
30.420
Deprgclatlon and Impalment
At 1 January 2024
Dppreciatson charged In the year
2,434
304
At 31 Decemter 2024
2.738
Carrylng amount
Al 31 Decembgr 2024
27.682
At 31 Decemter 2023
27.987
13 Flxed asset investments
Unllsted
Investments
Cost or valuatlon
At l January 2024
Additions
Valuation ch8ngey
228.642
9,234
8,629
At 31 December 2024
246.505
Cayrylng amount
At 31 Dec8rnbor 2024
246,505
At 31 DeCeM￿r 2023
228,642
10-

LIGHTBOWN CO￿AGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14 Debtorn
2024
2023
Amounts falllng due within one year:
Prepayments and a￿rUed incom&
1.272
1,232
15 Crnditors: amounts falllng due wEthln one year
2024
2023
Accruals and deferred income
1,150
1,232
16 Unrestrlctgd funds
The unreslricled funds of the tharity eomprise the unexpended balances of donations and grants ￿lch are
not subjact lo specific conditions by donors arKI grantors 8s lo how they may be used. These include
designatsd lunds whiL* have ts9￿ sel aside out of unrestricted lund8 by the trustees for speufie purposes.
At 1 January
2024
Incoming
rnsources
Resources
•xwnd•d
Galns and
losses
At31
December
2024
Major Repair Reserve
General funds
66.730
233,771
9,234
28,597
{17,0181
118,6911
8,629
252,3C6
300,501
37,831
(35,7091
8,829
311,252
Provlous year:
At 1 January
2023
Incomlng
regources
Resources
expended
Gains and
losses
At31
December
2023
Major Repair Reserve
General funds
65.345
211,272
8,582
33,686
17,197}
(15,8091
66,730
233.771
4,622
276.617
42,268
23,006
4,622
300,501
Included wlhln general funds is £83.17612023.. £74,547> in relation to the revalualion of investments which is
unrealised.

LIGHTBOWN COThAGE HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
17 Value for Money Metrics IVFMI: As raquired by thg Regulator of Social Housing (June 20191 Measuyes
ol Economy. Efllclgncy and Effectlveness
2024
0%
2023
Reinvestment % -Amount$ spent on now propert￿$ as a
% of existing tsngible fixed asset value
New Supply %-Number of new acqulred as a %
of existing properties owned
Social Housing Units
b. Non Social Hou8ing Units
0%
Gearing %-how much of assets is made up of debt. This
result may be negative where the Provider trAs no k)an
agreements in place
-1.33%
-1.57%
EBITDA MRI Interest Cover %-level of eamings (before
tsx, depreciatlon, afflortisation, major repairs included}
compared to interest ptyable (financing costs)
Headline Social Housing Cost-lolal annual running costs
per Social Houslng Unk owned
£4,426
£2,838
Operating Margin %-OP9ratirvJ surplus as a % of total
income
a. Soaal Hou&'ng Lettiryd
b. Overall
0.46°
0.28%
1.10%
0.71&
Retum on Caplt81 Employed %-operating surplus as a %
of nel current assets employed
0.03%
0.08%
18 Related party transactions
There were Th) disdosable rdated party transactions during the year {2023- none).
12

Hindle
Jepson &
Jennings Ltd
Reyi5tered Office:
1D Borou9h Rd Da￿en
LaTrcashire 883 IPL
Tel.. 01254 702111
email= inlo@hiandj.co.uk
Chartered Cerlilied Accountants
Ploase ask for: Mr C Baknr
Our rnf: CCBIDHITrust24
Your ref:
22 May 2025
Mrs R J Walton
29 Sunnymere Drive
Darwen
Lancashire
BB3 1RH
Dear Ros
Lightbown Cottage Home Trust
Yoar Ended 31 December 2024
We arè required to supply a management letter to accompany the accounts and can confirni that
the books and records are well kept.
Th8 Trust continues to be well run and we are quite satisfied with the accounts.
Yours Since￿IY
For and on behalf of
Hindle Jepson & Jennings Ltd
r4¢t•r•..
Mr Dw￿LSON￿￿7￿F￿ Mrs CC UKER Ft
Mrs LA MCGRATH MrsKL DILLQWAYXA
ACCA
AccouiilaThts
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