Charity number: 509021
LINCOLNSHIRE CHURCHES TRUST
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

LINCOLNSHIRE CHURCHES TRUST
CONTENTS
Page
ReferenGe and Administrative Details of the Charity, its Trustees and Advisers
Trustees. Report
Independent Examiner's Report
ststement of Financial Activities
Balance Sheet
Notes to the Financial Statements
10-22

LINCOLNSHIRE CHURCHES TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
Baroness Jane Willoughby de Eresby D.L., President
Councillor Penny Milnes
Christopher Lowson (resigned 5 July 2024)
Graham Cook, B.A., B.Arch, Hon. Secretary
Mona Dickinson
Jeffrey Couzens
Henrietta Reeve. D.L.. Chairman
Linda Lord Bsc BFP FCA TEP. Treasurer
The Venerable Gavin Kirk
Alexander Mauqhan MA4T BFP ACA, Assistant Treasurer
John Steadman
Richard Bridgen
David Margarson (appointed 26 April 2024)
Charity registered
number
509021
Principal office
Tower House
Lucy Tower Street
LN1 1XW
Accountants
Streets LLP
Tower House
Lucy Tower Street
Lincoln
LN1 1XW
Bankers
Nalional Westminster Bank plc
225 High Street
Lincoln
LN2 1AZ
Bank of Scotland
Ground Floor East
New Uberior House
11 Earl Grey Street
Edinburgh
EH3 98N
Page 1

LINCOLNSHIRE CHURCHES TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the financial statements of the charity for the year from 1
January 2024 to 31 De￿mber 2024.
Objectives and activities
a. Policies and objectives
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating to public benefit. including the guidance 'Public benefit.. running a
charity IPB2)'.
Achievements and perfomiance
a. Main activities undertaken
In practice the Trustees limit the award of grants to subject of greatest need. In principle, assistance is given to
Christian churches generally of any denomination within the Anglican Diocese of Lincoln, being at least 100
years old, needing repairs aimed at excluding wind and weather, achieving safety and security.
Assistance is not given for CU￿ent requirements relating to ritual or heating or lighting, or for repairs to
gravestones.
Grants are only considered after funds become available. The Trust is a registered environmental body which
has in the past received funding from WREN.
During the year 8 grants amounting to £36.750 were approved (2023.. 12 grants totalling £21,950) and some
100 churches benefited directly from a share of funds raised by the annual Sponsored Cycle Ride organised
and financed by the Trust. to a total of £6.491 (2023= £7.864).
Grants were approved to the following institutions=
St Andrews - Little Steeping
St John the Baptist- Baston
St Andrew's - Immingham
St Margaret- Huttoft
St Peter ad Vincula - Threekingham
St Peter and Paul's- Gosberton
St Margaret of Antioch - Br8￿bOrough
St Stephens - Carlby
The Grants Committee has been working hard with churches across the county to develop their plans and
support applicants with the various funding processes. Whilst the number of new applicants has slightly
reduced. we have been able to more generously support those churches makir)g applications with higher grant
amounts. In particular the Trust is proud of the work carried out by our Grants Committee to support the
ommunity in Huttoft with a fvrther grant of £15,500 awarded to their project.
Fundraising events continued in the year, with a SUC￿SSfUl Summer Paty held at Grimsthorpe Castle in July
and an Aulumn Lecture and Lunch held in October. The annual Cycle Ride & Stride was held in September
2024 and continues to generate a healthy sum of funds for both the Lincolnshire Churches Trust and local
churches across the area - thank you to all who took part.
Work has also continued to improve ourwebsite to make it easier to advertise and tske bookings for fundraising
events. It also provides an opportunity to showcase more of the chariws collection of fabulous church photos.
A re-launch of the website is expected in 2025 after some delays to implementation.
Page 2

LINCOLNSHIRE CHURCHES TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and perfomiance (continued)
The Steele Archive project, in partnership with Lincoln University, also progressed during the year under review
with support from Trustees. The project seeks to digitalise the records and photographs of Lincolnshire
Churches which are currently held in archives.
We are saddened at the passing of fomier Trustee and Treasurer. Mr Nevile Camamile. who died in April 2024.
Mr Camamile had been a life-long supporter of Lincolnshire Churches Trust and served as a Trustee for over 60
years until very recently. We are grateful for his support and the contribution he had made over many decades
to support the preseNation of our wonderful churches in Lincolnshire.
b. Principal funding
Income received by the trust is in principal from 4 main income streams. donations & subscriptions, GyGle ride &
stride. investment dividends and olher fundraising activities.
The annual Cycle Ride & Stride event was held with continued strong suppport, which raised a total of £17,726
(2023.. £18,761) in revenue for the Trust. Note 4 to these financial statements shows a breakdown of the
fundraising income.
The Trust continues to receive support from our donors and subscribers, with total donations income in the year
of £4.819 (2023= £12,090). Note 3 to these financial statements shows a breakdown of the donations and legacy
income.
Legacies were re￿iVed from the Estate of Mr R Sutton, a fomier subscriber and supporter of the Trust.
The Trust also receives investment income from the investments. with total income re￿iVed in Ihe year being
£13,325 (2023.. £13,960). Note 5 to these financial statements shows a breakdown of investment income.
. Fundraising activities
During the year fundraising efforts included a Summer Party held at Grimsthorpe Castle, and the Autumn
Lecture and Lunch.
We are grateful to all our donors. supporters and volunteers for their support throughout 2024.
Page 3

LINCOLNSHIRE CHURCHES TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Financial review
Going Goncern
After making appropriate enquiries. the Trustees have a reasonable expectation that the charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt
the going concem basis in preparing the financial statements. Further details regarding the adoption of the
going concern basis can be found in the accounting policies.
b. Reserves policy
The Trustees, intention is for the funds of the charity to be use on the preservation, repair, maintenance, upkeep
and reconstruction of Churches in Lincolnshire.
The total reserves of the charity at 31 December 2024 amounted to £553,584 (2023: £530,335). Of these
reserves £547,584 were unrestricted, with the remaining £6,000 reslricted balances held for specific purposes.
Much of the charity's unrestricted funds comprise investments and short temi bank deposits.
The Trustees have designated a management reserve of £493,582 (2023.. £468,165) which represents the
market value of the fixed asset investments, held for the purpose of generating income for the Trust.
The remaining general funds or free reserves of the Gharity were £54,002 (2023: £56,170) at 31 December
2024.
At the year end. the charity held £493.582 worth of investments managed by Brewin Dolphin (2023.. £468,165)
and a total cash balan￿ of £7,032 {2023.' £7,032) held with Bank of Scotland. These funds are available for
immediate withdrawal should the need arise.
The running costs of the charity are very low and are mostly attributable to expenses relating to fundraiser
events. so liquidity of reserves is not a problem. The charity holds enough reserves in liquid fom) to be able to
pay off any and all short temi debts whilst also continuing to provide grants for churches. The Trustees review
the reserves at regular intervals and consider that the current level held by the charity to be sufficient for its
continued operation.
c. Investments Policy
In accordance with the powers given in its goveming document the Trustees have invested in a balanced
portfolio of managed funds. The Trustees aim to maintain capital levels and produce sufficient income to
administer the Trust. The Trust is not immune to market conditions, but the Trustees believe that the investment
performance remains acceptable.
Page 4

LINCOLNSHIRE CHURCHES TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management
Constitution
The Trust was founded in 1952 to raise funds for the preservation, repair, maintenance, upkeep and
reconstruction of churches in the County of Lincolnshire and of monuments, fittings, fixtures, stained glass,
fvrniture, omament, bells and chattels in such churches and of the GhurGhyard belonging to any such GhurGhes.
The formal Declaration of the Trust was made on 12 September 1953.
revised Trust Scheme was issued by the Charity Commissioners on the 21 July 1998 with further
amendments issued on the 11 July 2008.
The Trust is a registered charity- Its registration date is the 24 August 1979 and irs registered charity number is
509021.
b. Methods of appointment or election of Trustees
Voluntary workers for the Trust are recruited by occasional advertisement for interested persons and by word of
mouth. and Trustees are mainly recruited from within those who have demonstrated their interest and particular
skills aiming to maintain a geographical spread within the operating area and as wide a base of appropriate
skills as possible.
The Trust is administered by a body not fewer than 9 and not more than 18 Trustees, each appointed for a
period of 6 years. The appointment of a Trustee must be made by the Trustees at a special meeting called
under clause 16 of the Trust's goveming document. dated 21 July 1998.
Organisational structure and decision4naking policies
The Trustees who served the charity during the period are listed on page 1 to these financial statements.
The Trustees serve on fundraising committees andlor on the grants committee. The grants Gommittee
exercises delegated power to authorise grants in accordan￿ with the objects of the Trust. Each committee
reports directly to the main Board of Trustees.
d. Risk Management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the
operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate
exposure to the major risks.
e. Trustee induction and training
Prospective Trustees are made familiar with the operating framework and methods of the Trust. and the specific
legal responsibilities are explained to any without previous experience as Charitable Trustees.
Page 5

LINCOLNSHIRE CHURCHES TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Plans for future periods
Over the next year the Trust will continue with its usual programme of fundraising activities, including the annual
Cycle Ride & Stride event in September.
Grant making activities continue to be a priority of the Trust. with work Unde￿aY by our Grants Committee to
promote the funds being tnade available and support applicants with the process.
Our website improvements continue as we look to enhan￿ the dvJttal engagement with our supporters, and
streamline administration processes for subscriptions and dOnat￿)nS. This work continues in the 2025 year.
Statement of Trustees. responsibilities
The Trustees are responsible for preparing the Trustees, Report and Ihe financial statements in accordan
with applicable law and Unf(ed Kingdom A(xounting Standards (United Kingdom Generally AC￿pted
Accounting Practi￿).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for
each financial which give a true and fair view of the slate of affairs of the charity and of its incoming resources
and application of resources, including tts income and expenditure, for that peri(xl. In preparing these financial
statements, the Trustees are required to:
select suitable acrA)unting policies and then apply them consistently-
observe the methods and principles of the Charities SORP {FRS 102);
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any
material departures disdosed and explained in the financial statements-
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
charity will continue in business.
The Trustees are responsible for keeping adequate ac(x)unting records that are sufficient to show and explain
the charitys transactions and disclose with reasonable accuracy at any time the financial position of the charity
and enable them to ensure that the financial statements (x)mply wth the Charities Act 2011, the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Charity Commission Scheme. They are also
responsible for safeguarding the assets of the charity and hen￿ for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
Approved by order of the members of the board of Truslees on 25 April 2025 and signed on their behalf by:
Udlo LL AL L ￿,
Baroness Jane Willoughby de Eresby D.L.
(President)
Henrietta R￿L .
(Chairman)
Page 6

LINCOLNSHIRE CHURCHES TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Independent Examiner's Report to the Trustees of Lincolnshire Churches Trust (Ihe charity.)
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31
December 2024.
Responsibilities and Basis of Report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordan￿ with the
requirements of the Charities Act 2011 ('the 2011 Act')-
I report in respect of my examination of the chariws accounts carried out under section 145 of the 2011 Act and
in carrwng out my examination I have followed the applicable Directions given by the Charity Commission under
section 145(51(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and
Reporting by Charities.. Slatement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in
preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1
April 2005 which is referred to in the extant regulations but has been withdrawn.
l understand that this has been done in order for the accounts to provide a true and fair view in acGordanGe with
the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January
2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act-, or
the accounts do not accord with those records., or
the accounts do not comply with the applicable requirements conceming the form and content of
accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fairf view which is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Signed-
Dated.. 17 October 2025
Valerie Steward
Bsc FCA FCCA FRSA
Greenfield Fann, 23 West Street, Hibaldstow, North Lincolnshire, DN20 9NY
Page 7

LINCOLNSHIRE CHURCHES TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Other trading activities
Investments
18,387
20,089
13.325
18,387
20,089
13.325
15,090
22.075
13,960
Total income
51,801
51,801
51.125
Expenditure on:
Raising funds
Charitable activities
6,816
51,781
6,816
51,781
5, 660
39,338
Total expenditure
58.597
58.597
44,998
Net (expenditure)lincome before net
gains on investments
Net gains on investments
(6.796)
30,045
{6.796>
30,045
6, 127
10,457
Net movement in funds
23.249
23.249
16,584
Reconcilialion of funds:
Total funds brought forward
Net movement in funds
6,000
524,335
23,249
530,335
23,249
513, 751
16.584
Total funds carried forward
6,000
547,584
553,584
530,335
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 22 form part of these financial statements.
Page 8

LINCOLNSHIRE CHURCHES TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
Fixed assets
Investments
11
493.582
468,165
493.582
468, 165
Current assets
Stocks
Debtors
12
13
500
6.668
74.989
1,500
3.108
80,152
Cash at bank
82.157
84. 760
Creditors.. amounts falling due within one
year
14
(22.155)
(22,590)
Net current assets
60.002
62.170
Total assets less current liabilities
553,584
530,335
Net assets excluding pension asset
553.584
530.335
Total net assets
553.584
530,335
Charity funds
Restricted funds
Unrestricted funds
15
6.000
547,584
6,000
524.335
15
Total funds
553,584
530.335
The financial statements were approved and authorised for issue by the Trustees on 25 April 2025 and signed
on their behalf by..
Udlo LL AL L
Baroness Jane Willoughby de Eresby D.L.
(President)
(Chairman)
The notes on pages 10 to 22 fomi part of these financial statements.
Page 9

LINCOLNSHIRE CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
General information
As set out in the Trustee's report, Lincolnshire Churches Trust is an unincorporated registered charity in
England & Wales. The principal office of the charity is Tower House. Lucy Tower Street, Lincoln, LN1
1XW.
The principal objective of the charity is to support the preseNation of Churches in Lincolnshire, by
awarding grants to Christian Churches of any denomination within the Anglican Diocese of LinGoIn.
These grants are awarded to Churches being at least 100 years old and in need of repairs.
Further details about the charitys main activities can be found in the Trustee's report.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 1021
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 (FRS 1021 (effective 1 January 2019}, the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fairf view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true
and fairf view. This departure has involved following the Charities SORP {FRS 102) published in
October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended
Practice effective from 1 April 2005 which has since been withdrawn.
Lincolnshire Churches Trust meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in
the relevant accounting policy.
2.2 Going concem
The Trustees do not believe that there are any material Un￿rtaIntieS about the charity's ability to
continue. The charity only commits to grants to the extent that funds are available.
Accordingly the financial statements have been prepared on a going concern basis.
2.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the
income will be received and the amount of income re￿1vable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement. the probability of
receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of
entitlement to a legacy exists when the charity has sufficient evidence that a gift has been left to
them (through knowledge of the existence of a valid will and the death of the benefactor} and the
executor is satisfied that the property in question will not be required to satisfy claims in the estate.
Re￿Ipt of a legacy must be recognised when it is probable that it will be re￿iVed and the fair value
of the amount re￿1Vable, which will generally be the expected cash amount to be distributed to the
charity. can be reliably measured.
Page 10

LINCOLNSHIRE CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
2.3 Income (continued)
Income tax recoverable in relation to donations re￿iVed under Gift Aid or deeds of covenant is
recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party. it is probable that a transfer of economic benefils will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is classified by
activity-
Expenditure on raising funds includes all expenditure incU￿ed by the charity to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
charity's objectives. as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Investments
Fixed asset investments are a fomi of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balan￿ Sheet date. unless the
value cannot be measured reliably in which case it is measured at cost less impairment. Investment
gains and losses. whether realised or unrealised, are combined and presented as 'GainsllLosses)
on investments, in the Statement of Financial Activities.
2.6 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of
fixed and variable overheads.
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-temi highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
Page11

LINCOLNSHIRE CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Gharity anticipates it will pay to settle the debt or the
amount it has received as adVan￿d payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.10 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the charity and which have not been designaled for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for
particular purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 12

LINCOLNSHIRE CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donations and legacies
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Donations
4.819
13.568
4,819
13.568
12.090
3,000
Legacies
Total 2024
18.387
18,387
15.090
Total 2023
tl,090
15,090
Income from other trading activities
Income from fundraising events
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Cycle ride
Garden openings
Summer party
Card and calendar sales
17.726
17,726
18.761
2,326
1,632
351
1,632
351
218
Autumn paty
380
380
770
Total 2024
20.089
20.089
22,075
Total 2023
22,075
22, 075
Page 13

LINCOLNSHIRE CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Investment income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
UK quoted investments
13.325
13,325
13,960
Total 2023
73,960
13,960
Expenditure on raising funds
Fundraising trading expenses
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Cycle ride administration
Summer party
Insurance of events
Christmas cards and calendars
775
262
775
456
262
619
1,624
68
619
1,624
68
619
248
Autumn party
69
Total 2024
3.348
3,348
1,392
Total 2023
1,392
1,392
Page 14

LINCOLNSHIRE CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Investment management costs
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Investment management fees
3.468
3,468
4,268
Total 2023
4.268
4, 268
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2024
Total
2024
Total
2023
Preservation of churches in Lincolnshire
51.781
51,781
39,338
Total 2023
39.338
39,338
Analysis of expenditure by activities
Activities
undertaken
directly
2024
Support
costs
2024
Total
funds
2024
Total
fvnds
2023
PreseNation of churches in Lincolnshire
43,241
8,540
51,781
39,338
Total 2023
29,814
9,524
39,338
Page 15

LINCOLNSHIRE CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of expenditure by activities (continued)
Analysis of direct costs
Church
preservatio
Total
funds
2024
Total
funds
2023
2024
Granls to churches
Cycle ride distribution to churches
36,750
6,491
36,750
6,491
21,950
7, 864
Total 2024
43,241
43.241
29,814
Total 2023
29,814
29,814
Analysis of support costs
Church
preservatio
Total
funds
2024
Total
funds
2023
2024
Accountancy fees - administration
Accountancy fees - accountancy
Printing, postage and stationery
Website costs
4,488
3,000
4,488
3,000
564
3,240
3, 600
1,206
1,478
488
Total 2024
8,540
8,540
9, 524
Tot812023
9.524
9,524
10.
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 December 2024. no Trustee expenses have been incurred (2023 - £NILJ.
Page 16

LINCOLNSHIRE CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11.
Fixed asset investments
Listed
investments
Cost or valuation
At 1 January 2024
Additions
468,165
52.000
(51,678)
25,095
Disposals
Revaluations
At 31 December 2024
493,582
Net book value
At 31 December 2024
493,582
At 31 December 2023
468, 165
12. Stocks
2024
2023
Finished goods and goods for resale
500
1,500
13.
Debtors
2024
2023
Due within one year
Cycle ride contributions outstanding
Income tax recoverable
80
208
4,940
80
2,900
Autumn Party
Legacy debtor
1,568
6,668
3,108
Page 17

LINCOLNSHIRE CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
14.
Creditors: Amounts falling due within one year
2024
2023
Grants awaiting call
Accruals
16.975
5,180
18.725
3,865
22.155
22,590
15. Statement of funds
Statement of funds - current year
Balance at
31
Gainsl December
{Losses)
2024
Balance at 1
January
2024
Transfers
inlout
Income Expenditure
Unrestricted
funds
Designated
funds
Management
Reserve
468,165
322
25,095
493,582
General funds
General Funds
56.170
51.801
(58.597)
(322)
4.950
54,002
Total
Unrestricted
funds
524,335
51,801
(58,597)
30.045
547,584
Restricted
funds
Fenton Church
Steele Archive
2,000
4,000
2,000
4,000
6,000
6,000
Total of funds
530.335
51,801
(58,597)
30,045
553,584
Page 18

LINCOLNSHIRE CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
15. Statement of funds {continued)
Designated funds:
The Management Reserve represents funds held which are invested for the purpose of generating
income for the Trust.
Restricted funds:
Fenton Church
A legacy of £2,000 was received in the year ended 31 December 2017 from the Estate of the Late Joyce
Wafford Deceased. This legacy is to be spent on the upkeep of Fenton Church, as far as possible. So
far no request has been forthcoming to expend these funds.
Steele Archive
A donation totalling £4,000 was received in the year ended 31 December 2023, given to the Trust to
cover expected future costs in connection with the Steele Archive project.
Page 19

LINCOLNSHIRE CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
15. Statement of funds {continued)
Statement of funds - prior year
Balance at
31
December
2023
Balance at
1 January
2023
Transfers
in/out
Gains/
(Losses)
Income Expenditure
Unrestricted
funds
Designated
funds
Management
Reserve
461,530
(3,465)
10, 100
468,165
General funds
General Funds
50.221
47. 125
(44.998)
3.465
357
56.170
Total
Unrestricted
funds
511.751
47. 125
(44.998)
10,457
524.335
Restricted
funds
Fenton Church
steele Archive
2,000
2,000
4,000
2,000
4,000
6,000
Total of funds
513,751
57,125
(44,998)
10,457
530,335
Page 20

LINCOLNSHIRE CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
16. Summary of funds
Summary of funds - current year
Balance at
31
December
2024
Balance at 1
January
2024
Transfers
inlout
Gainsl
{Losses)
Income Expenditure
Designated
funds
468,165
56,170
322
25,095
4,950
493,582
54,002
General funds
Restricted
funds
51,801
(58,597)
(322)
6,000
6,000
530,335
51,801
(58,597)
30,045
553,584
Summary of funds - prior year
Balance at
31
December
2023
Balance at
l January
2023
Transfers
in/out
Gains/
(Losses)
Income Expenditure
Designated
funds
461,530
50.221
(3,465)
3.465
10,100
357
468, 165
56.170
General funds
47. 125
(44.998)
Restricted
funds
2.000
6,000
513,751
51,125
(44,998)
10,457
530,335
Page 21

LINCOLNSHIRE CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
17.
Analysis of net assets between funds
Analysis of net assets between funds - current period
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Fixed asset investments
Current assets
493,582
76,157
(22.155)
493.582
82,157
(22,155>
6.000
Creditors due within one year
Total
6.000
547,584
553,584
Analysis of net assets between funds - prior period
Restricted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Fixed asset investments
Current assets
Creditors due within one year
468,765
78, 760
(22,590)
468,165
84, 760
(22.590)
6,000
Total
6,000
524,335
530,335
18.
Related party transactions
Mrs Linda Lord is a partner for Streets LLP and Alexander Maughan is a manager for Streets LLP which
acts as accountants to the Trust. The fees paid to the organisation are detailed within the accounts Note
Page 22