Charity number: 244672
Leek Town Lands
Trustees’ report & financial statements
For the year ended 30 June 2025
LEEK TOWN LANDS
TRUSTEES REPORT FOR THE YEAR ENDED 30 JUNE 2025
The trustees present their report and the accounts for the year ended 30 June 2025.
Structure, governance and management
The charity is managed by the board of trustees in accordance with its governing document. The trustees are appointed and resign in accordance with the governing document.
The trustees consider risk management on an ongoing basis and systems are in place to identify and mitigate the major risks to which the charity may be exposed.
Objective and activities
The objective of the trust is to provide, by way of donations, funding for activities and events of local interest situated in and around Leek.
Achievements and performance
The charity’s incoming funds remained consistent with those of previous years.
During the year the charity continued to support clubs, events and places of interest in and around Leek with donations.
Financial review
The financial position is disclosed in the attached accounts which comply with the statutory requirements, the governing document, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) — (Charities SORP (FRS102)) and the Charities Act 2011.
As at 30% June 2025 the charity had reserves consisting of a Capital Fund of £757, an Income Fund of £64,172 and an Investment Reserve Fund of £82,774. The trustees will continue to support the local community in Leek, for which the reserves will be applied as needed.
Statement of trustees’ responsibilities
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the year end and of its incoming resources and resources expended during that year. In preparing those financial statements, the trustees are required to:
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e select suitable accounting policies and then apply them consistently; e make judgements and estimates that are reasonable and prudent; e state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
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e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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LEEK TOWN LANDS
TRUSTEES REPORT FOR THE YEAR ENDED 30 JUNE 2025 (CONTINUED)
Statement of trustees’ responsibilities (continued) The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Public benefit statement
The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the guidance on public benefit issued by the Charity Commission in exercising their powers and duties.
Principal address
Leek Town Lands Trustees, 57 Derby Street, Leek, Staffordshire, ST13 6HU.
Trustees The trustees who served during the year are as follows: Mrs A Dupreez (Chair) Mr P Marriott (Vice Chair) Mr R Watkins (Secretary) Mr JM Hilton Mr D Parry Mr S Wales Ms S Coleman Ms D Potts Mr D Swarbrook Mr P Allcock Mr D Hilyer
This report was approved by the trustees on J beeee Asay2S, and signed on its behalf by
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LEEK TOWN LANDS
CHARTERED ACCOUNTANTS’ REPORT TO THE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
In accordance with the engagement letter dated 18 August 2022, we have prepared for your approval the financial statements of Leek Town Lands which comprise the Statement of Financial Activities, the Balance Sheet and the related notes to the charity’s accounting records and information and explanations you have given us.
As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew. com/membershandbook.
This report is made solely to you, the charity’s Board of Trustees, as a body, in accordance with the terms of our engagement letter dated 18 August 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Leek Town Lands and state those matters that we have agreed to state to them in this report in accordance with the guidance of ICAEW as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its Board of Trustees as a body for our work or for this report.
You have approved the financial statements for the year and have acknowledged your responsibility for them, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for their compilation.
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 financial statements.
Bennett Brooks & Co Ltd Chartered Accountants Cherry Tree Court Cross Street Leek Staffordshire ST13 6BL
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LEEK TOWN LANDS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025
| Note | Unrestricted | Total | Total | |
|---|---|---|---|---|
| Funds | 2025 | 2024 | ||
| Incoming resources | £ | £ | £ | |
| Rentreceived Investmentincome Interestreceivable |
2 3 |
20,475 5,421 1,100 |
20,475 5,421 1,100 |
6,989 5,183 1,730 |
| Totalincomingresources | 26,996 | 26,996 | 13,902 | |
| Resources expended | ||||
| Charitable activities | 4 | 16,811 | 16,811 | 19,709 |
| Governance costs | 5 | 300 | 300 | 300 |
| Total resources expended | 17,111 | 17,111 | 20,109 | |
| Netincomings fortheyear | 9,885 | 9,885 | (6,107) | |
| Other recognized gains/(losses) | ||||
| Gain /(loss) onrevaluation ofinvestments | 7 | 3,088 | 3,088 | 6,489 |
| Net income | 12,973 | 12,973 | 382 | |
| Reconciliation offunds | ||||
| Total funds brought forward | ||||
| at 1 July2024 | 134,730 | 134,730 | 134,348 | |
| Total funds carried forward | ||||
| at30June2025 | 147,703 | 147,703 | 134,730 |
The notes on pages 6 to 8 form part of these accounts.
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LEEK TOWN LANDS
BALANCE SHEET AS AT 30 JUNE 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Investments: at marketvalue | value | 7 | |||
| 7,205.78 income shares in Charinco (CommonInvestmentFund for Charities) |
10,376 | 10,376 | |||
| 5,493 units in Charifund (EquityInvestmentFundforCharities) |
86,404 | 83,316 | |||
| 96,780 | 93,692 | ||||
| Current assets | |||||
| Cash atBuilding Society : LeekUnited : LeekUnitedBond |
20,048 23,075 |
19,508 22,481 |
|||
| Cash atBank | : Current account | 12,361 | 13,124 | ||
| : Reserve account | 57 | 57 | |||
| Debtors and accrued income | 711 | 1,839 | |||
| Prepayments | 190 | 228 | |||
| 56,442 | 57,237 | ||||
| Current liabilities | |||||
| Creditors Deferredincome |
400 5,119 |
11,080 5,119 |
|||
| 5,519 | 16,199 | ||||
| 50,923 | 41,038 | ||||
| 147,703 | 134,730 | ||||
| Represented by:- | |||||
| Funds | |||||
| Unrestricted funds: | |||||
| Capital fund | 757 | TS) | |||
| Income fund | 64,172 | 54,287 | |||
| Investment reserve fund | 82,774 | 79,686 | |||
| 147,703 | 134,730 | ||||
| ApprovedbytheBoardofTrusteeson //2 AyostJ2¥ andsignedon itsbehalfby Chair Secretary |
Aten aid f).-—<— |
The notes on pages 6 to 8 form part of these accounts
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LEEK TOWN LANDS NOTES TO THE ACCOUNTS
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Accounting policies
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1.1 Basis ofpreparation ofaccounts The financial statements are prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) — (Charities SORP (FRS102)) and the Charities Act 2011.
Leek Town Lands meets the definition of public benefit entity under FRS102.
The financial statements are prepared in sterling, which is the functional currency of the charity.
1.2 Incoming resources
- Incoming resources becoming available to the charity during the year are recognised in the Statement of Financial Activities.
Rent from properties is included in the SOFA net of letting agent’s commission.
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1.3. Resources expended and cost allocation Expenditure is recognised in the Statement of Financial Activities in the period that the liability arises. Costs are allocated directly to the fund to which they relate.
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1.4 Unrestrictedfunds are incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
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1.5 Investments are stated in the balance sheet at fair value. Unrealised gains or losses on investments are transferred to an Investment reserve fund.
| 1.5 | Investments are stated in the balance sheetin the balance sheetthe balance sheetbalance sheetsheet are transferred to an Investment reserve |
stated in the balance sheetin the balance sheetthe balance sheetbalance sheetsheet at fair value.value. Unrealised gains fund. |
gains or losseslosses | on investmentsinvestments |
|---|---|---|---|---|
| 2025 | 2024 | |||
| Unrestricted | ||||
| Ze | Investment income | Funds | Total | Total |
| Charifund Charinco |
£ 4,998 423 |
2 4,998 423 |
£ 4,751 432 |
|
| 5,421 | 5,421 | 5,183 | ||
| 3. | Interest receivable | |||
| £ | £ | £ | ||
| Buildingsocietyinterest | 1,100 | 1,100 | 1,730 |
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LEEK TOWN LANDS NOTES TO THE ACCOUNTS CONTINUED
| 2025 | 2024 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| Funds | Total | Total | ||
| 4. | Charitable activities | |||
| £ | £ | £ | ||
| Donations (see note 6) Postage, stationery& advertising Letting fees Repairs&renewals Reduction inGeneralprovision |
11,510 65 - 3,220 - |
11,510 65 - 3,220 - |
8,139 50 6,572 13,215 (10,585) |
|
| Insurance | 1,916 | 1,916 | 2,218 | |
| Secretary’s expenses | 100 | 100 | 100 | |
| 16,811 | 16,811 | 19,709 | ||
| 5. | Governance costs | |||
| £ | £ | £ | ||
| Accountancy fees | 300 | 300 | 300 | |
| 300 | 300 | 300 |
6. Donations
Donations made in the year ended 30 June 2025 are as follows:
| 2025 | |
|---|---|
| £ | |
| Foxlowe Arts Centre | 500 |
| LeekBlues& Americana Festival | 500 |
| LeekMusical Theatre Co | 1,200 |
| Christmas GiftAppeal | 500 |
| Leek YouthProject | 650 |
| Totally LocallyLeek | 360 |
| LeekMorris | 300 |
| Homestart | 1,000 |
| The Beatrice Charity | 2,000 |
| LeekLoves Books | 1,000 |
| LeekAir Cadets | 2,000 |
| LeekFoodbank | 1,500 |
| 11,510 |
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LEEK TOWN LANDS NOTES TO THE ACCOUNTS CONTINUED
7. Investments
All investments are held in the UK and have been included in the balance sheet at 30 June 2025 at fair value at that date in accordance with the Charities SORP (FRS102). Unrealised gains and losses on revaluation are transferred to or from an investment reserve fund.
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|---|---|---|---|---|---|---|
|Charinco|Charifund|Total|
|£|£|£|
|Fair value|at beginning|of|year|10,376|83,316|93,692|
|Gain|/|(loss)|on revaluation|-|3,088|3,088|
|Fair value|at end of|year|10,376|86,404|96,780|
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8. Freehold property
The assets which are not incorporated in the balance sheet comprise Dee Bank Farm, Leek and land at The Mount, Leek.
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