COMPANY REGISTRATION NUMBER: 01447612
CHARITY REGISTRATION NUMBER: 511387
Lancaster Training Services Limited
Company Limited by Guarantee
Financial Statements
31 July 2024
RIV
Chartered accountants & statutory auditor
Second Floor, Riverside Offices
26 St George's Quay
Lancaster
LA1 1RD

Lancaster Training Services Limited
Company Limited by Guarantee
Flnanclal Statements
Year ended 31 July 2024
Page
Trustees, annual report (incorporating the directols report)
Independent auditors report to the members
Statement of financial activities (including income and
expenditure account)
13
Slatement of financial position
14
Statement of cash flows
15
Notes to the financial statements
16
The following pages do not form part of the flnancial staiemenls
Detailed stalemenl of financial activities
28
Notes to the detailed statement ol financial activities
30

Lancaster Training Services Limited
Company Llmlted by Guarantee
Trustees. Annual Report (Incorporating the Director's Report)
Year ended 31 July 2024
The trustees, who are also the direclors for Ihe purposes of company law, present Iheir report and the
financial stalements of Ihe charity for the year ended 31 July 2024.

Lancaster Training Services Limited
Company Limiied by Guarantee
Truslees. Annual Report (Incorporating the Director's Report) (contInU￿)
Year ended 31 July 2024
Reference and administrative details
Reglstered charity name
Lancaster Training Services Limited
Charily regislration number
511387
Company registration number 01447612
Princlpal office and reglstered 5 Penrod Way
office
Heysham
Lancasler
LA3 2UZ
The tru$t¢g8
Mr R W Little
Mr G Sierpinski
The Company Secretary and Chief Execulive Officer is Mr M Horabin. to whorn day lo day management of
the charity is delegaled.
Executive committee
each member company is entitled to send a representative to the execulive
committee meetings. Such representatives are not trustees.
Kidds Transport Limited
J & M Collinson Limited
Darbyshire & Horabin Limiled {Irading as DCL Transport Lld)
Westmorland and Furness Council
Lancaster City Council
l Quinn (Haulage Contractors)
Carrs Billington Limited
R W Liltle Esq (chair}
S J Bargh Limited
Bibbys of Ingleton
G.Powell Esq
G.Sierpinski Esq (Vice Chairl
Auditor
Riverside Accounlancy Lancasler Limiled
Chartered accountants & slalulory auditor
Second Floor. Riverside Offices
26 St George's Quay
Lancaster
LA1 1RD
Bankers
Barclays Bank PLC
38 Market Street
Lancaster
Lancashire
LA1 1HR

Lancaster Training Services Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporatlng the Dlrector's Reporl) (contlnued)
Year ended 31 July 2024
Sollcitors
Oglethorpe, Sturton & Gillibrand
16 Caslle Park
Lancaster
LA1 1YG
Structure. governance and managom•nt
Goveming Document
Lancaster Training Services is a charitable company limited by guarantee and has no authorised or issued
share capital 12 members, as indicated in a list held at the registered olfice, agree lo contribute £200 each
to the assets of the charity in the evenl of a winding up. The Company is governed by ils Mernorandum
and Articles of Associalion dated 7 September 1979 as amended by a special resolution daled 13
November 1995. Management of the Charity's affairs is vested in ils executive committee.
Appointment of trustee5
The directors and truslees are subject lo re-appointment annually by the members in the Annual General
Me8ting.
Trustee induction and training
Trustees are given such advice and infomiation by the Chief Executive Officer as is necessary lo allow
them to carry out their function.
Organisation
The operation and administration of Ihe charity is controlled by Mr M Horabin, Iraining manager and
company secretary. Strategic issues and important business matters including setting the pay and
remuneration of the ¢haritWs key managemeni personnel rest wilh the directors and truslees. They are
able to use the advice of the executive committee. to which each of Ihe charity's members can send one
representative.
The Chair of executive meetings is the charitls chaimian. Mr R W Little.
During the year the charity employed ong training manaoer, elev8n driving instructors, Seven in-house
tutors and five administrative staff.

Lancaster Trainlng Services Limited
Company Llmlted by Guaranlee
Trustees, Annual Report (Incorporatlng the Dlrector's Report) (contlnued)
Year ended 31 July 2024
Risk management
The trustees have assessed the major risks to which the charity is exposed. in particular those related lo
Ihe operations and finances of Ihe charily, and are satisfied Ihal syslems are in place lo mitigate our
exposure lo Ihe major risks. The charitable company is striving lo build up its liquid assels in ils Current
location and believes that il is taking ihe necessary sleps to achieve Ihis end.
Public benefit
The chariiy offers training opportunities to employees of member companies and lo others without
reference to age, gender, race. or creed. The same criteria apply to trainees taken on under publicly
funded schemes.
The aim of the directors and Iruslees is lo provide ils facililies on a no profil no loss basis subj@ct to
maintaining a satisfactory ongoing cash flow position.
The directors and trustees believe that they have complied with the duty in Section 17 of the Charities Act
2011 to have due regard to the public benefit guidance published by the Charity Commission.
Oblectlves and actlvllles
The charity's principal object as set out in the Memorandum of Association is to provide training for
persons employed or inlending to be employed in Road Transport activitigs or such other persons
employed or intending to be employed in such other activities as may benefit from the training services
provided by the Company.
The principal activity of the charity during ihe year was Ihe conlinuing provision of transport related training
services lo ils members and other outside interests. The charity meets the standards required by the
Education & Skills Funding Agency l Ofsted, the govemment body responsible for maintaining the
standards of government funded training providers, thus Maintaining ils status as an approved Iraining
centre in North Lancashir8 and South Cumbria.
Policies adopted to further the objecls of the charily..
Maintaining slrong links with its member companies in order to continue the original principal activty.
Conlinuing to be the approved Iraining cenlre for Ihe Educalion & Skills Funding Agency. Achieving high
rates of qualification to secure a commensurate level of funding from the Education & Skills Funding
Agency. Raising ihe profile of the charity to outside businesses through the wide range of road transport
training services provided. Maintaining the standards required by the Education & Skills Funding Agency /
Ofsted. To maintain the standards required for 'lnvestors in People,. To maintain links with Nalional bodies
which support Ihe Charity in the pursuit of its objectives e.g. Th8 National Logistics Academy. The Road
Transport Association.

Lancaster Training Services Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporatlng Ihe Dlrector's Report) (conllnuod)
Year ended 31 July 2024
Achievements and performance
In the financial year Ihe charily had an excess of incoming resources over oulgoing resources of
£157,12012023 £90.702)all of which represents unrestricted funds.
The principal funding sources are training allowanGe5 received frorn Skills Funding Agency and invoiced
courses.
The bulk of the charity's assets consisl of tangible fixed assets, all dedicated to the running of the charity.
In consequence of the relocation following compulsory purchase of the company's prernises Ihe company
had to eslablish 115 business al its Heysham location. The trustees believe thal the company will generate
cash resources to allow the future developmenl of the charity's activities.
ReseNes Policy
The Irustees aim lo mainlain sufficienl reserves lo allow the Company to continue to provide ils training
seNices to ils members and to the community. Unrestricted rese￿eS at 31 July 2024 are comprised as
follows:
Fixed Asset Reserves
Free Fleserves
Total
£1,153,668
£982,100
£2,135,768
The trustees believe that free reseNes amounting to one half of annual running cosls woukl be appropriate
to this charity, the largel level being £700.000. Free reserves now salisfy that level and the trustees will be
looking for ways in which the charily's aclivilies can be developed commensurale with financial security.
Investment powers and policy
The Articles of Association permit the trustees to invest in Ihe name of the charity such part of the funds as
they see fit.
Pricing policy
Pricing policy is such as lo provide members with training facilities at as reasonable a cost as possible.
Indemnity insurance
Indemnity insurance in respect of the trustees has been provided within a professional indemnity policy.
The cost of this insurance amounted to £1.578 (2023: £1,265).

Lancaster Training Services Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Direclor's Report) (continued)
Year ended 31 July 2024
Financlal review
A sumrnary of the results is as follows:
2024
2023
Total incoming resources
1.461.120
1,383,951
Total resources expended
1,304.000
1,293,249
Nel incoming resources for the year
157,120
90.702
Plans for lulur¢ pèriods
-Increased take up of Driver Certrficate of Professional Compeience Courses
-Increase Apprentice numbers on motor vehicle maintenance programmes
-Expansion of comtnercial courses to include initial MOT tester training
-more driver licence acquisition with category 'B' car drivers via an automatic electric vehicle
Truslees, responslbllltles statemenl
The trustees, who are also directors for the purposes of company law, are responsible for preparing the
Iruslees, report and the financial slalements in accordance wilh applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charty trustees to prepare financial statements for each y8ar which give a true
and fair view ol the State of affairs of the charitable company and the incoming resources and application
of resourc8s, including the income and expenditure. for that period.
In preparing these financial slalemenls, Ihe trustees are required to:
select suitable accounting policies and then apply them consistenlly.
observe Ihe melhods and principles in the applicable Charilies SORP.
make judgments and accounting estimates that are reasonable and prudent..
prepare the financial slalemenls on the going concern basis unless il is inappropriate to presume that
the charity will continue in business.

Lancaster Tralning Services Limited
Company Llmited by Guarantee
Trustees, Annual Report (Incorporating the Dlrector's Report) (¢ontlnuad)
Year ended 31 July 2024
The trustees are responsible for keeping adequate accounling records that are sufficient to show and
explain the charity's transactions and disclose wilh reasonable accuracy at any time the financial position
of the charity and enable them to ensure that the financial slatements comply with the Companies Act
2006. They are also responsible lor safeguarding Ihe assets of the charity and hence for laking reasonable
sleps for the prevention and detection of fraud and olher irregularities.
Auditor
Each of the persons who is a trustee at the date of approval of this rep)rt confirms that:
so far as they are aware, there is no relevant audit infomiation ol which the charity'5 auditor is
unaware; and
they have taken all steps thal they ought to have laken as a trustee to mak8 themselves aware of any
relevant audit inforrnation and to eslablish that the charty's auditor is aware of that information.
Small company provlslons
This report has been prepared in accordancg With the provisions applicable to companies entitled to Ihe
small companies exernption.
The trustees. annual report was approved on 15 November 2024 and signed on behalf of Ihe board of
truslees by:
Mr R W Little
Trustee

Lancaster Training Services Limited
Company Limiied by Guarantee
Independent Audiior's Report to the Members of Lancaster Tralnlng Servlces
Limlted
Year ended 31 July 2024
Opinlon
We have audited Ihe financial slatements of Lancasler Training Services Limiled (the 'charilY) for the year
ended 31 July 2024 which comprise the statement of financial aclivities (including income and expendilure
accounl), slatement of financial position, statement of cash flows and the related notes, including a
sumtnary of significant accounting policies. The financial reporling framework Ihal has been applied in
their preparalion is applicable law and Uniled Kingdom Accounting Standards. including FRS 102 The
Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
In our opinion the financial statements:
give a twe and lair view of the state of the charty's affairs as at 31 July 2024 and of its incoming
resources and application of resources. including its income and expenditure, for Ihe year Ihen
have been properly prepared in ac￿rdanCe with Unrted Kingdom Generally Accepted Accounting
Practice.
have been prepared in accordance with the requirements of the Companies Act 21)06.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UKI) and
applicable law. Our rgsponsibilities under those standards are further described in the auditor's
responsibilities for the audit of the linan¢ial slatemenls section of our report. We are independent of the
charity in accordance with the ethical requiremenis ihal are relevant to our audit of the financial slalemenls
in the UK, including the FRC'S Elhical Slandard, and we have fullilled our olher ethical responsibililies in
accordance wilh these requirements. We believe Ihal Ihe audit evidence we have obtained is sufficient and
appropriate lo provide a basis for our opinion.
Conclusions relatlng to going concern
In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of
accounting in Ihe preparation ol the financial statements is appropriate.
Based on the worf( we have performed, we have nol idenlrfied any malerial uncertainties relating to evenls
or conditions that. individually or collectively. may cast significant doubt on the charity's ability to continue
as a going conGem lor a period of at least Iwelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in
Ihe relevant sections of this report.

Lancaster Trainlng Services Llmited
Company Limited by Guarantee
Independent Auditor's Report 10 the Members of Lancaster Training Services
Limited (contlnuod)
Year ended 31 July 2024
Other Informatlon
The other information comprises the information included in the annual report, other than the financial
statemenls and our auditor's report thereon. The trustees are responsible for the other informalion. Our
opinion on the financial stalemenls does nol cover the other information and, except lo the extent
othe￿iSe explicitly stated in our report, we do not express any form of assurance Gonclusion Ihereon.
In Gonnection with our audit of the financial statements, our responsibilily is lo read the other infomiation
and. in doing so, consider whether the other information is materially inconsistent with Ihe financial
slalements or our knowledge obtained in the audil or olherwise appears lo be materially misstated. 11 we
idenlify such material inconsistencies or apparenl material misstatements, we are required to delermine
whether there is a material misstatement in the financial statements or a material misstatement of the
other informalion. If. based on the work we have performed. we conclude Ihat Ihere is a material
misslatement of this olher inlormalion, we are required to report that fact.
We have nothing to report in this regard.
Oplnlons on other matters prescrlbed by the Companles A¢1 2006
In our opinion, based on the work undertaken in the course of the audit:
the inlormation given in the trustees. report for the financial year for which the financial statements
are prepared is consistent with the f inancial slatements. and
the trustees, report has been prepared in accordance with applicable legal requirements.
Malters on which we are r8quired to report by exc•plion
In the light of the knowledge and understanding of the charity and ils environment obtained in Ihe course of
the audil. we have not identified material misstatemenls in Ihe Iruslees, report.
We have nothing to report in respect ol the following matters in relation lo which the Companies Act 2006
requires us lo report Io YOLJ if, in our opinion..
adequate accounting records have not been kept. or relums adequate for our audit have not been
received from branches nol visited by us. or
the linancial statements are not in agreement with the accounting records and relurns. or
certain disclosures of trustees, remuneration specified by law are not made.. or
we have nol received all Ihe informalion and explanations we require for our audil. or
the trustees were not enlilled to prepare Ihe financial statements in accordance with the small
companies regime and lake advantage of the small companies, exempiions in preparing the
directors, report and from the requirement to prepare a strategic report.

Lancaster Training Services Limited
Company Llmlted by Guarantee
Independent Audltor's Report to the Members of Lancaster Training Services
Limited (contlnued)
Year ended 31 July 2024
Responsibilities of trustees
As explained more fully in the Iruslees, responsibilsties statement, the trustees Iwho are also the direclors
for the purposes of company law} are responsible for the preparation of the financial statements and for
being satisfied that they give a true and fair view, ancl for such internal control as the trustees determine is
necèssary to enable the pr8paration of financial statements that are free from material misstalement,
whether due to fraud or error.
In preparing Ihe financial slaternents. the trustees are responsible for asse55ing the charity's abilty lo
Conlinue as a going concern, disclosing, as applicable, matters related lo going concern and using the
going con￿rn basis of accounting unless the trustees either intend to liquidate the charity or to cease
operations, or have no realistic alt8rnaliv8 but to do so.
Audllorfs responsibilitles for the audlt ol the flnan¢lal statements
Our objeclives are to oblain reasonable assurance aboul whether the financial stalements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee thal an
audit conducted in accordance with ISAS (UK) will always detect a material m isslatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected lo influence Ihe economic decisions of users taken on the basis of
these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibililies, outlined above. to delect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable ol detecting irregularities,
including fraud is detailed below..
Fleview of trustees minutes and review of nominal poslings for leoal and professional fees ensured we
idenlified any regulatory compliance issues and laws that charity musl follow in Ihe year and to the date of
signing the financial statements
Enquiry of managernent and those charged with governance around actual, suspected and alleged fraud
DLfring the audit we speak to trustees, test the systems and speak to various rn8mbers of the finance
function to understand the entity its processes and the nature of trade to a5SlSt in determining if Ihe
financial statements are true and fair.
Challenging assumpiions made by management in making their significant accounting estimates.
Reviewing financial statement disclosure and testing io supportino documenlalion lo assess compliance
wilh applicable laws and regulalions
10

Lancaster Training Services Limited
Company Limited by Guarantee
Independent Audltor's Report to the Members of Lancaster Tralnlng Servlees
Limiied (contlnued)
Year ended 31 July 2024
As parl of an audil in accordance wilh ISAS (UKI, we exercise professional judgment and rnainlain
professional scepticism Ihroughoul the audit. We also:
Identify and assess the risks of malerial rnisstatement of the financial statements, whelher due to
fraud or error, design and perform audit procedures responsive lo those risks. and oblain auclil
evidence Ihal is suff icienl and appropriate to provide a basis for our opinion. The risk of not detecting
a malerial misstalement resulling from fraud is higher than for one resulting from error. as Iraud may
involve collusion, forgery, intentional omissions, misrepresentalions, or Ihe override of internal
control.
Obtain an underslanding of internal control relevant lo Ihe audil in order to design audit procedures
that are appropriate in the circumslances, but nol for the purpose of expressing an opinion on the
effectiveness of the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accountino
eslimales and related disclosures made by the trustees.
Conclude on the appropriateness of the Irustees. use of the going concern basis ol accounting and.
based on Ihe audil evidence obtained. whether a material uncertainty exists related to events or
conditions that may cast significanl doubl on the charity's ability lo continue as a going concern. If we
conclude that a malerial uncertainly exists. we are required to draw allention in our auditor's report to
the relaled disclosures in the financial statements or, if such disclosures are inadequate, lo modify
our opinion. Our conclusions are based on the audit evidence oblaine(J up io Ihe dale of our auditorfs
report, However, future events or condilions may cause the charity to cease to conlinue as a going
concern.
Evaluate the overall presentalion. struclure and content of the financial statements. including the
disclosures, and whether the financial statements represent the underlying transactions and events in
a manner Ihat achieves fair presentalion.
11

Lancaster Training Services Limited
Company Limlled by Guarantee
Independent Audltor's Report to the Members of Lancaster Training Services
Llmited {¢ontlnued)
Year ended 31 July 2024
We communicate wilh those charged with governance regarding. among other matters, the planned scope
and liming of the audit and significant audit lindings, including any significant deficiencies in inlernal control
that we idenlify during our audil.
Uso of our report
This report is made solely lo th8 charity's members, as a body, in accordance with Chapier 3 of Part 16 of
Ihe Companie5 Acl 2006. Our audit work has been undertaken so that we might state lo the charity's
members those matters we are required to state to them in an auditor's report and for no other purpose.
To the fullesl extent permitted by law, we do not accept or assume responsibility to anyane other than the
charity and the charity's members as a body, for our audit work, lor this report, or for the opinions we have
lormed.
Lyndsay Nicholson ACA (Senior Stalulory Auditor)
For and on behalf of
Riverside Accountancy Lancaster Limited
Chartered accounlanls & stalulory auditor
Second Floor, Riverside Off ices
26 St George's Quay
Lancasler
LA1 1RD
18 November 2024
12

Lancaster Training Services Limited
Company Limited by Guarantee
Statement of Financial Activities
(including income and expendilure account)
Year ended 31 July 2024
2024
Unrestricled Endowment
funds
funds Total funds Total funds
2023
Note
Income and endowments
Charitable activities
Other Irading activilies
Investment income
1.445,748
9,833
5.539
1,445,748
9,833
5,539
1,365,403
16,599
1,949
Total income
1.461.120
1,461,120
1,383,951
Expendlture
Expendilure on charitabla activities
Taxation
8.9 1.291.428
11
3,654
1,295,080
1.291.426
3,654
1.295,080
1.293,249
Total •xpendllure
1.293.249
Net Income and net movement In funds
166,040
166,040
90,702
Reconciliatlon of funds
Total lunds brought forward
Tolal funds carrled forward
1,936,229
42,419
1,978.648
1,887.946
2,102.269
42,419
2,144.688
1.978.648
The slatement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from conlinuing activities.
The noles on pages 16 to 26 fonn part ol those flnanclal statements.
13

Lancaster Training Services Limited
Company Llmited by Guarantee
Statement of Flnanclal Posltlon
31 July 2024
2024
2023
Nole
Flxed assels
Tangible fixed assets
15
1.152.588
1.193.973
Current assels
Slocks
Debtors
Cash at bank and in hand
16
17
6,100
170,026
1,006.428
1.182.554
4,600
137,031
818,588
960,219
Credilors: amounts falling due within one year
Net current assets
18
190,454
992,100
175,544
784.675
Totsl assets less current Ilabllllles
2,144,688
1,978.648
Nel assels
2,144,688
1.978,648
Funds of the charity
Endowment lunds
Unreslricted funds
42,419
2,102,269
42,419
1 ,936,229
Tol81 charlty funds
20 2,144,688
1,978.648
These financial statements have been prepared in accordance wilh the provisions applicable to companies
subjecl to the small companies, regime.
These financial slalements were approved by the board of trustees and aulhorised for issue on 15
November 2024, and are signed on behalf of the board by=
o,I.J
Mr R W Little
Trustee
The notes on pages 16 to 26 form part of these financlal statements.
14

Lancaster Training Services Limited
Company Limlted by Guarantee
Statement of Cash Flows
Year ended 31 July 2024
2024
2023
Cash flows from operating acllvitles
Net income
166,040
90.702
Adjustments lor..
Depreciation of tangible fixed assets
Olher interest receivable and similar income
Interest payable and similar charges
Taxation
Accrued expenses
47.183
15,539)
47,501
(1.949)
{81
3,654
5,610
Changes in..
Stocks
Trade and other debtors
Trade and other creditors
11.500}
125,2181
1,523
900
(17.951)
22,743
Cash generated from operations
191,753
141,938
Interest paid
Inleresl re￿iVed
Tax paid
Net cash froffl operating activities
5,539
(3,6541
193,638
1.949
143,895
Cash Ilows from investing activities
Purchase of tangible assets
Net cash used in investing activities
15,798}
{5,7981
12.8081
{2.808)
Net increase In ca8h and cash equivalents
Cash and cash oqulvalents at beglnning of year
Cash and cash equivalents at end ol year
187,840
818,588
141.087
677.501
1,006,428
818,588
The notes on pag88 16 to 26 form part of these flnanclal stalements.
15

Lancaster Training Services Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 July 2024
General information
The charity is a public benefit entity and a private Company limiled by guarantee, registered in
England and Wales and a registered chariiy in England and Wales. The address ol the registered
office is 5 Penrod Way, Heysham, Lancaster, LA3 2UZ.
Stalemenl of compliance
These financial stalements have been prepared in compliance wilh FRS 102, 'The Financial
Reporting Slandard applicable in the UK and the Republic of Ireland.. the Slatemenl of
Recomrnended Practice applicable lo charilies preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charitie5
SORP IFRS 102)) and the Companies Acl 2006.
Accountlng policies
Basls of preparallon
The financial slalemenls have been prepared on the historical cost basis, as modified by the
revalualion of certain financial assels and liabililies and investmgnt propertias measured at fair value
through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the enlity.
Going Concern
The accounts show a surplus of £157,120 and Ihere are no material uncertainties regarding going
concern. There are also total reserves of over £2.1 m. Therefore in the opinion of the trustees the
financial statements should be prepar8d on a going cOn￿M basis.
Support costs
Support cosls are those Ihat assisl the work of the charity but do not directly represent charitable
activities and include office costs. governance cosls. adminislralive payroll costs. They are incurred
directly in support of expenditure on the objects of the charity- Where support cosls cannol be directly
attribuled lo particular headings they have been allocated to cost of raising funds and expenditure on
charitable activities on a basis consistenl with use of Ihe resources.
Judgements and key sources of eslimalion uncertainty
In the application of the charity's accounling policies, Ihe trustees are required to make judgements,
estimates and assumptions about the carrying amounl of assets and liabilities Ihal are not readily
apparent from other sources. The estimates and associated assumptions are based on historical
experience and other faclors Ihal are considered relevant. Actual results may differ from these
estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period which Ihe eslimale is ￿ViSed where Ihe revision
affecls only that period, or in the period of the revision and future periods where the revision affects
b)th current and future periods.
16

Lancaster Training Services Limited
Company Limited by Guarantee
Notes lo the Flnanclal siatemenls (conllnuod)
Year ended 31 July 2024
Aceountlng pollcles {conllnu8d)
Income lax
The taxation expense represenls Ihe aggregale amount of current and deferred tax recognised in the
reporting p8riod.
Current tax is recognised on taxable income or expenditure for the current and past periods. Current
tax is measured al the amounts of tax expected to pay or recover using the tax rates and laws that
have been enacled or substantively enacled at the reporting date.
Delerred tax is recognised in respect of all timing differences al the reporting dale. Unrelieved tax
losses and other deferred tax assets are rocognised to the extent Ihat it is probable that they will be
recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred lax is
measured using the tax rates and law￿ that have been enacled or substantively enacted by the
reporting date Ihat are expected to apply to the reversal of the timing difference.
Fund accounllng
Unrestricted funds are available for use al Ihe discretion of the Iruslees to further any of the charity's
purposes.
Designated lunds are unreslricled funds eamarked by the trustees for parlicular lulure projecl or
commitment.
Reslricled funds are subjected to restrictions on their expendilure declared by the donor or Ihrough
the terms of an appeal, and lall into one of two sub-classes: restricted income funds or endowment
funds.
Incomlng resources
All incoming resources are included in the slalemenl of financial activities when entitlement has
passed to the charity. it is probable thal the economic benefits associated with the Iransaclion will
flow to the charity and the amount can be reliably measured. The following specific policies are
applied to particular calegories ol income:
inwme Irom donations or grants is recognised when there is evidence of entillemenl to the gift.
receipt is probable and its amount can be measured reliably.
legacy income is re¢ognised when receipt is probable and enlitlemenl is established.
income from donated goods is measured al Ihe fair value of Ihe goods unless this is impractical
to measure reliably, in which case Ihe value is derived from Ihe cosl lo the donor or the
estimated resale value. Donated facilities and services are recognised in the accounts when
received if the valu8 can be reliably measured. No amounts are included for the contribution of
general volunleers.
income from contracls for the supply of services is recognised with the delivery of the contracted
service. This is classified as unrestricted funds unless there is a contractual requirement for it to
be spent on a particular purpose and returned if unspenl, in which case it may be regarded as
restiicted.
17

Lancaster Training Services Limited
Company Llmited by Guarantee
Notes to the Flnanclal Statements (ContIn￿)
Year ended 31 July 2024
Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered. and is classified under headings of the statemenl of financial
activities to which il relates=
expendilure on raising funds includes the costs of all fundraising activities. events. non-
charitable trading activilies. and the sale of donated goods.
expendilure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of ils beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned lo charitable
activities.
other expenditure includes all expencliture that is neither related lo raising funds for the charity
nor part of ils expenditure on charilable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single aclivity are allocated directly to that activity. Shared costs are apportioned
between the activities they contribute to on a reasonable. justifiable and consistent basis.
Oporating leases
Lease payments are recagnised as an expense over the lease term on a straight-line basis. The
aggregale benefit of lease incentives is recognised as a reduction to expense over the lease term. on
a Slraight-line basis.
Tanglble assels
Tangible assets are initially recorded at cost, and subsequenlly slated al cost less any accumulated
depreciation and impairrnent losses. Any tangible assets carried at revalued arnounls are recorded at
the fair value at the dale ol revaluation less any subsequent accumulaled depreciation and
subsequent accumulated irnpairmenl losses.
An increase in the carrying amount of an asset as a result ol a revaluation, is recognised in other
recognised gain5 and losses, unless it reverses a charge for impairmenl thal has previously been
recognised as expenditure within the statement of financial activities. A decrease in Ihe carrying
amount of an asset as a result of revalualion. is recognised in other recognised gains and losses.
except to which il offsels any previous revaluation gain, in which case the loss is shown wilhin olher
recognised gains and losses on the statement of financial activities.
Deprecialion
Depreciation is calculated so as to write off the cost or valuation of an asset, less ils residual value,
over the useful economic lif8 of that asset as follows:
Freehold propety
Plant and machinery
1 •/• Straight line
25% straighl line
18

Motor vehicles
Equipment
25°/0 slraight line
15 /0 slraighl line
18

Lancaster Training Services Limited
Company Llmlled by Guarantee
Notes 10 the Financial Statements {¢ontlnu8d)
Year ended 31 July 2024
A¢counling policies (conHnued)
Impairment of flxed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being eslimated where such indicators exist. Where the carrying value exceeds Ihe
recoverable amount, the asset is impaired accordingly. Prior impaimienls are also reviewed for
possible reversal al each reporting date.
For the purposes of impairment testing, when il is not possible to estimate the recoverable amount of
an individual asset, an estimate is made of the recoverable amount of the cash-generating unit lo
which the asset belongs. The cash-generating unit is Ihe smallesl identifiable group of assets that
includes the asset and generales cash inflows that largety independent of the cash inflows from olher
assels or groups of assets.
For impairrnent testing of goodwill. the goodwill acquired in a business combination is. frotn the
acquisition date. allocated to each of Ihe cash-generating units that are expected to benefit from the
synergies of the combination. i￿eSpeCtive of whether other assels or liabilities of the charity are
assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less cosls lo complete and sell.
Cosl includes all costs of purchase, costs of conversion and other costs incurred in bringing ihe slock
to its present location and condilion.
19

Lancaster Training Services Limited
Company Limlted by Guarantee
Notes to Ihe Flnanclal siatements fwJtlnu8d)
Year ended 31 July 2024
Accountlng pollcle8 (contlnued)
Flnancial instruments
A financial asset or a financial liabilty is recognised only when the entity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any
related transaction costs. unless the arrangemenl ¢onslitules a financing transaction, where il is
recognised at the present value of Ihe future paymenls discounted at a market rate of interest for a
similar debt instrurnent.
Current assets and current liabililies are subsequently measured al the cash or other consideration
expected to be paid or received and not discounted.
Debl instruments are subsequently measured al amortised cosl.
Financial assets that are measured at cost or amortised cost are reviewed lor objective evidence ol
impairment al the end of each reporting date. If there is objective evidence of impairment, an
impaimient loss is rgcognised under the appropriate heading in the slatemenl of financial activtties in
which the initial gain was recognised.
For all equity inslrumenls regardless of significance. and other financial assels that are individually
significanl, these are assessed individually for impairment. Other financial assets are either assessed
individually or grouped an Ihe basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the exlenl that the reversal does not
result in a carrying amount of Ihe financial asset that exceeds what the carwng amounl would have
been had Ihe impairment noi previously been recognised.
Defined conlrlbullon plang
Contributions to defined contribution plans are recognised as an expense in the period in which the
related service is provided. Prepaid contributions are recognised as an asset to the extent that the
prepayment will18ad to a reduction in fulure payments or a cash refund.
When conlribulions are not expected to be settled wholly wilhin 12 months ol the end of the reporting
date in which the ernployees render the related service. the liability is measured on a discounted
present value basis. The unwinding of the discount is recognised as an expense in the period in
which it arises,
Llmlted by guarantee
Lancaster Training Services Limited is a charitable company limit8d by guarantee and has no
authorised or issued share capital. 12 members as indicated in a list held al the Registered Office
agree to contribule £200 each to the assets of the charity in the ev8nt ol a winding up.
20

Lancaster Training Services Limited
Company Limited by Guarantee
Notes to the Financlal Stalements (conti￿)
Year ended 31 July 2024
Charltabl• activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Training allowances
Course fees
655.682
790.066
655,682
790,066
417.041
948.362
417.041
948.362
1.445.748
1,445,748
1.365,403
1.365,403
Other Ir8dlng actlvltles
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Membership fees
Miscellaneous income
250
9.583
250
9.583
250
16,349
250
16.349
9.833
9,833
16,599
16.599
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Bank interesl receivable
5,539
5.539
1,949
1,949
Expenditure on charitable activilies by fund type
Unrestricted Totsl Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Training cosls
Support costs
1,278,425
13.001
1,278,425
13.001
1,285,034
8,215
1,285,034
8.215
1.291.426
1,291.426
1,293,249
1,293,249
Expgnditure on charitable activilies by activily type
Aclivities
undertaken
direclly Support cosls
Total funds
2024
Tolal fund
2023
Training costs
1,278,425
13,001
1,291,426
1,293,249
21

Lancaster Training Services Limlted
Company Limited by Guarantee
Notes lo the Financlal Statements (contlnued)
Year ended 31 July 2024
10. Analysis of support costs
Audit and
accountancy Total 2024
Total 2023
Finance costs
13,001
13,001
8,215
11. Taxation
Malor eomponents of tax expense
2024
2023
Current lax:
UK current tax expense
Taxation
3,654
3,654
The charity's non primary income has exceeded Ihe £80,000 Ihreshold and therefore the excess has
become chargeable to corporalion tax.
Reconciliation of lax expense
The lax assessed on the income for the year is lower than {2023'. lower than) the slandard rate of
corporalion tax in the UK of 191.12023: 199/).
2024
2023
Income before taxation
169,694
90.702
Income by rate of lax
Adjustment to tax charge in respect of prior periods
Effect of income exempi from lax
Tax on income
29,853
1,654
127,853)
3.654
17,233
(17,233)
12. Net income
Net income is stated alter ¢hargingl(creditingl-.
2024
2023
Depreciation of tangibl8 fixed assels
47,183
47,501
22

Lancaster Training Services Limited
Company Limited by Guarantee
Notes to Ihe Financial Statemenls (contlnu8d)
Year ended 31 July 2024
13. Stalf costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024
2023
Wages and salaries
Social security costs
Employer contributions to pension plans
752,339
66,905
58,668
748,941
63,502
55.427
877,912
867,870
The average head count of employees during the year was 26 (2023.. 261. The average number of
full-time equivalenl employees during the year is analysed as follows:
2024
No.
2023
Management and administration
Operations staff
16
16
20
20
The number of employees whose remuneration for the year fell within the following bands, were:
2024
2023
No.
£70.000 to £79,999
14. Trustee remuneration and expenses
No trustee received any ￿Muneration from the charity during either of Ihe Iwo financial years.
Travel expenses reimbursed to trustees amounted to £3.675 (2023 - £1.7881.
During the year the Charity paid £77.011 (2023 £60,956) in remuneralion lo key management
personnel.
23

Lancaster Training Services Limited
Company Limlted by Guarantee
Noies to the Financial Statements (contlnued)
Year ended 31 July 2024
15. Tangible fixed assets
Freehold Plant and
property machinery
Motor
vehicles Equipment
Totsl
Cost
At 1 August 2023
Additions
Disposals
At 31 July 2024
Dep￿CIatIOn
At 1 August 2023
Charge for Ihe year
Disposals
At 31 July 2024
Carrying amount
At 31 July 2024
At 31 July 2023
1,282,127
330,766
1,741
152,622)
279,885
327,917
115,978 2,056,788
4,057
5.798
{14.9901 167,612)
105,045 1,994,974
1,282,127
327.917
162.766
10,222
297.509
19,302
152.622)
264,189
294,268
14.087
108,272
3.572
114,9901
96.854
862.815
47.183
167,6121
842.386
172,988
308.355
1.109.139
15.696
19,562
8,191 1.152.588
7,706 1,193,973
1.119.361
33.257
33,649
16. Stocks
2024
2023
Raw rnalerials and consumable5
6,100
4,600
17. Deblors
2024
2023
Trade debtors
Prepaymenls and accrued income
96,724
73,302
72,250
64,781
170.026
137,031
18. Credltors: amounts falling du8 wlthln one year
2024
2023
Trade creditors
Accwals and deferred income
Social security and other taxes
33,240
116,487
40,727
19,049
103,100
53,395
190,454
175,544
24

Lancaster Training Services Limited
Company Limited by Guarantee
Notes lo the Flnanclal Statements (eonllnued)
Year ended 31 July 2024
19. Ponsions and other post retirement benefits
Deflned conlrlbutlon plans
The amount recognised in income or expenditure as an expense in relation to defined contribution
plans was £58,66812023.' £55,427).
20. Analysis of charltable funds
Unreslrlcled funds
Al
1 August 202
Al
Income Expenditure 31 July 2024
General funds
1,936,229
1,461,120 11,295,080) 2,102,269
At
1 Augusl 202
At
Income Expenditure 31 July 2023
General funds
1,845,527
1,383,951
11,293,249)
1.936,229
Endowment funds
At
1 August 202
Al
Income Expenditurg 31 July 2024
Endowment fund
42.419
42.419
At
1 Augusl 202
At
Income Expenditure 31 July 2023
Endowment lund
42,419
42,419
25

Lancaster Training Services Limited
Company Limlted by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2024
21. Analysls ol net assets between funds
Unrestricted Endowment Total Funds
Funds
Funds
2024
Tangible fixed assets
Currenl assets
Creditors less than 1 year
Net assels
1,110,169
1.182.554
{190.454)
2,102,269
42,419
1,152,588
1.182,554
{190.454)
2.144,688
42,419
Unrestricted Endowment Total Funds
Funds
Funds
2023
Tangible fixed assels
Current assels
Creditors less than 1 year
N81 assets
1,151,554
960,219
(175,5441
1.936,229
42,419
1.193.973
960,219
{175,5441
1,978.648
42,419
22. Analysls of changes in net debt
Al
At 1 Aug 2023 Cash flows 31 Jul 2024
Cash at bank and in hand
818,588
187,840
1,006,428
23. Operatlng lease commitments
The total future rninirnum lease payments under non-cancellable operaling leases are as lollows:
2024
2023
Not later than 1 year
286
286
26

Lancaster Training Services Limited
Company Limited by Guarantee
Management Information
Year ended 31 July 2024
The following pages do nol form part of tha financial stalemontg.

Lancaster Training Services Limited
Company Limited by Guarantee
Detailed Slatemeni of Financial Actlvltles
Year ended 31 July 2024
2024
2023
Income and endowments
Charllable activities
Training allowances
Course fees
655.682
790.066
417,041
948.362
1,445,748
1.365,403
Othèr tradlng activilies
Membership fees
Misc8llaneous income
250
9.583
250
16.349
9,833
16.599
Investment Income
Bank inleresl receivable
5,539
1,949
Total income
1,461,120
1,383,951
28

Lancaster Training Services Limited
Company Llmlted by Guaranlee
Detalled Statement of Financial Activitles (contlnued)
Year ended 31 July 2024
2024
2023
Expenditure
Expenditure on charitable activities
Wages and salaries
Employerfs NIC
Pension costs
Rates and water
Lighl and heal
Repairs and rnaintenance
Insuran
Other establishment
Motor vehicle expenses
Vehicle leasinglhire
Other motorltravel costs
Legal and professional fees
Telephone
Other office costs
Depreciation
Other interest payable and similar charges
Bad debts
Teaching course expenditure
ADR course fees
Sundry
752,339
66,905
58,668
10,425
(3,1351
13,273
15,839
11,525
88.872
4,158
6.685
17,327
4,177
26,093
47,183
748,941
63.502
55,427
9.404
(1521
13,639
15,198
9,350
123,639
4,078
5.382
8,796
3,235
21,313
47.501
{8)
76
125.192
11,029
27,707
553
125,146
10,110
35,283
1.291,426
1,293.249
Taxallon
Current laxation chargelcredil
3,654
Total expendllure
1.295.080
1,293,249
Nel income
166.040
90.702
29

Lancaster Training Servlces Limited
Company Limited by Guarantee
Notes lo the Detailed Statemeni of Financial Activities
Year ended 31 July 2024
2024
2023
Expenditure on charitable activitles
Tralning costs
Actlvitles undertaken direclly
Direct charitable activity 1 wageslsalaries
Direct charitable acliviiy 1 employerfs NIC
Dirgct charitable activity 1 pension cosls
Direct charitable activity 1 rales & water
Direct charitable activity 1- light & heal
Direct charitable activity 1 repairs & maintenance
Direct charitable aclivity 1 insurance
Direct charitable activity 1 cleaning
Direct charitable activity 1 motor vehicle expenses
Direcl charitable activity 1- bank charges
Direct charitable activity 1 - compuler costs
Direcl charitable activity 1- legal and professional fees
Direct charilable activity 1- telephone
Direct charilable aGtivty 1 other office costs
Direct charitable activlty 1 deprecialion
Direct charilable activily 1 other interest payable and similar charges
Direcl charitable activity 1 bad debts
Direcl charitable activity 1 - teaching course expenses
Direct charttable activity 1 - ADR course fees
DireGI Gharitable activity 1 - sundry
752.339
66,905
58.668
10,425
(3,1351
13,273
15,839
11,525
88,872
4,158
6,685
4.326
4.177
26,093
47,183
748.941
83,502
55,427
9,404
(1521
13,639
15.198
9,350
123.639
4,078
5,382
581
3,235
21,313
47,501
(81
76
125.192
11,029
27,707
553
125,146
10.110
35.283
1.278.425
1,285,034
Support costs
Support charitable activiiy 1 legal and professional fees
13,001
8,215
Exp•ndlture on charltable activities
1,291,426
1,293,249
30