2025-07-31-accounts

COMPANY REGISTRATION NUMBER: 01447612 CHARITY REGISTRATION NUMBER: 511387

Lancaster Training Services Limited Company Limited by Guarantee Financial Statements

31 July 2025

RIVERSIDE ACCOUNTANCY LANCASTER LIMITED Chartered accountants & statutory auditor Suite 2, 2 Mannin Way Lancaster Business Park Caton Road Lancaster LA1 3SU

Lancaster Training Services Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 July 2025 eee eee

	Page
Trustees’ annual report (incorporating the director's report)	1
Independent auditor's report to the members	8
Statement of financial activities (including income and
expenditure account)	13
Statement of financial position	14
Statement of cash flows	15
Notes to the financial statements	16
The following pages do notform part of the financial statements
Detailedstatementoffinancialactivities	29

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Lancaster Training Services Limited

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report)

Year ended 31 July 2025

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 July 2025.

Reference and administrative detalis

Registered charity name Lancaster Training Services Limited Charity registration number = 511387 Company registration number 01447612 Principal office and registered 5 Penrod Way office Heysham Lancaster LA3 2UZ

The trustees

Mr R W Little Mr G Sierpinski

The Company Secretary and Chief Executive Officer is Mr M Horabin, to whom day to day management of the charity is delegated.

Executive committee - each member company is entitled to send a representative to the executive committee meetings. Such representatives are not trustees.

Kidds Transport Limited

J &WM Collinson Limited

Darbyshire & Horabin Limited (trading as DCL Transport Ltd) Westmorland and Furness Council

Lancaster City Council

| Quinn (Haulage Contractors) Carrs Billington Limited R W Little Esq (Chair) S J Bargh Limited Bibby's of Ingleton G.Powell Esq

G.Sierpinski Esq (Vice Chair)

1

Lancaster Training Services Limited

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (conmtinuea)

Year ended 31 July 2025

Year endedended 31 July 20252025	Year endedended 31 July 20252025
ug
Auditor	Riverside Accountancy Lancaster Limited
	Chartered accountants & statutory auditor
	Suite 2, 2 Mannin Way
	Lancaster Business Park
	Caton Road
	Lancaster
	LA1 3SU
Bankers	Barclays Bank PLC
	38 Market Street
	Lancaster
	Lancashire
	LA1 1HR
Solicitors	Oglethorpe, Sturton & Gillibrand
	16 Castle Park
	Lancaster
	LA11YG

LNTeee

2

Lancaster Training Services Limited

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continueg)

Year ended 31 July 2025

Structure, governance and management

Governing 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 office, agree to contribute £200 each to the assets of the charity in the event of a winding up. The company is governed by its Memorandum and Articles of Association dated 7 September 1979 as amended by a special resolution dated 13 November 1995. Management of the Charity's affairs is vested in its executive committee.

Appointment of trustees

The directors and trustees are subject to re-appointment annually by the members in the Annual General Meeting.

Trustee induction and training

Trustees are given such advice and information by the Chief Executive Officer as is necessary to allow them to carry out their function.

Organisation

The operation and administration of the charity is controlled by Mr M Horabin, training manager and company secretary. Strategic issues and important business matters including setting the pay and remuneration of the charity's key management personnel rest with the directors and trustees. They are able to use the advice of the executive committee, to which each of the charity's members can send one representative.

The chair of executive meetings is the charity's chairman, Mr R W Little.

During the year the charity employed one training manager, eleven driving instructors, seven in-house tutors and five administrative staff.

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 are in place to mitigate our exposure to the major risks. The charitable company is striving to build up its liquid assets in its current location and believes that it is taking the necessary steps to achieve this end.

Public benefit

The charity offers training opportunities to employees of member companies and to 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 trustees is to provide its facilities on a no profit no loss basis subject 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.

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Lancaster Training Services Limited

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continuea) Year ended 31 July 2025

Objectives and activities

The charity's principal object as set out in the Memorandum of Association is to provide training for persons employed or intending to be employed in Road Transport activities 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 the year was the continuing provision of transport related training services to its members and other outside interests. The charity meets the standards required by the Department for Education / Ofsted, the government body responsible for maintaining the standards of government funded training providers, thus maintaining its status as an approved training centre in North Lancashire and South Cumbria.

Policies adopted to further the objects of the charity:

Maintaining strong links with its member companies in order to continue the original principal activity. Continuing to be the approved training centre for the Department for Education. Achieving high rates of qualification to secure a commensurate level of funding from the Department for Education. Raising the profile of the charity to outside businesses through the wide range of road transport training services provided. Maintaining the standards required by the Department for Education/Ofsted. To maintain the standards required for ‘Investors in People’. To maintain links with National bodies which support the charity in the pursuit of its objectives e.g. The National Logistics Academy, The Road Transport Association.

4

Lancaster Training Services Limited

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continueg)

Year ended 31 July 2025

Achievements and performance

In the financial year the charity had an excess of incoming resources over outgoing resources of £173,801(2024 £166,040)all of which represents unrestricted funds.

The principal funding sources are training allowances received from Skills Funding Agency and invoiced courses.

The bulk of the charity’s assets consist of tangible fixed assets, all dedicated to the running of the charity. In consequence of the relocation following compulsory purchase of the company’s premises the company had to establish its business at its Heysham location. The trustees believe that the company will generate cash resources to allow the future development of the charity's activities.

Reserves Policy

The trustees aim to maintain sufficient reserves to allow the company to continue to provide its training services to its members and to the community. Unrestricted reserves at 31 July 2025 are comprised as follows:

Fixed Asset Reserves £1,167,063 Free Reserves £1,109,007 Total £2,276,070

The trustees believe that free reserves amounting to one half of annual running costs would be appropriate to this charity, the target level being £700,000. Free reserves now satisfy that level and the trustees will be looking for ways in which the charity's activities can be developed commensurate with financial security,

There is an endowment fund of £42,419 which represents the assets of Lancaster and District Road Haulage Group Training Association at the date at which Lancaster Training Services Limited was formed.

Investment powers and policy

The Articles of Association permit the trustees to invest in the name of the charity such part of the funds as they see fit.

Pricing policy

Pricing policy is such as to 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 £2,272 (2024: £1,578).

5

Lancaster Training Services Limited

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continues)

Year ended 31 July 2025

Financial review

A summary of the results is as follows:

summary of thethe results is as follows:
	2025	2024
	£	£
Total incoming resources	1,481,034	1,461,120
Total resources expended	1,307,233	1,295,080
Netincomingresourcesfortheyear	173,801	166,040

Plans for future periods

-Increased take up of Driver Certificate of Professional Competence Courses

-Increase Apprentice numbers on motor vehicle maintenance programmes

-Expansion of commercial courses to include initial MOT tester training

-Expansion of commercial courses to include Electric Vehicle safety training

Trustees’ responsibilities statement

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.

In preparing these financial statements, the trustees are required to:

• ° select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the applicable Charities SORP;

• make judgments and accounting estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

6

Lancaster Training Services Limited

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 July 2025

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enabfe them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safequarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

• ¢ so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and

• e they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information,

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees’ annual report was approved on 14 November 2025 and signed on behalf of the board of trustees by:

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Mr R W Little Trustee

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Lancaster Training Services Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Lancaster Training Services Limited

Year ended 31 July 2025

Opinion

We have audited the financial statements of Lancaster Training Services Limited (the ‘charity’) for the year ended 31 July 2025 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United 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 true and fair view of the state of the charity's affairs as at 31 July 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve 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 the relevant sections of this report.

8

Lancaster Training Services Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of Lancaster Training Services Limited (continued)

Year ended 31 July 2025

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge cbtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• e the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• e the trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report fo you if, in our opinion:

• « adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• e« certain disclosures of trustees' remuneration specified by law are not made; or

• « — we have not received all the information and explanations we require for our audit; or

• « the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

9

Lancaster Training Services Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of Lancaster Training Services Limited (continued)

Year ended 31 July 2025

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors 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, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements 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 that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement 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 to influence the 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 responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Review of trustees minutes and review of nominal postings for legal and professional fees ensured we identified any regulatory compliance issues and laws that charity must follow in the year and to the date of signing the financial statements

Enquiry of management and those charged with governance around actual, suspected and alleged fraud

During the audit we speak to trustees, test the systems and speak to various members of the finance function to understand the entity its processes and the nature of trade to assist in determining if the financial statements are true and fair.

Challenging assumptions made by management in making their significant accounting estimates.

Reviewing financial statement disclosure and testing to supporting documentation to assess compliance with applicable laws and regulations

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Lancaster Training Services Limited

Company Limited by Guarantee

independent Auditor's Report to the Members of Lancaster Training Services Limited (continued)

Year ended 31 July 2025

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• e Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resutting from fraud is higher than for one resulting from error, as fraud may invelve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• ® Obtain an understanding of internal contro! relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

• e Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

• e Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern.

• ¢ Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

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Lancaster Training Services Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of Lancaster Training Services Limited (continuea)

Year ended 31 July 2025

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to 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 fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

AMC Ase

Lyndsay Nicholson FCA (Senior Statutory Auditor)

For and on behalf of Riverside Accountancy Lancaster Limited Chartered accountants & statutory auditor Suite 2, 2 Mannin Way Lancaster Business Park Caton Road Lancaster LA1 3SU

17 November 2025

12

Lancaster Training Services Limited

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 July 2025

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----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |Unrestricted|Endowment| |funds|funds|Totalfunds|Total|funds| |Note|£|£|£|£| |Income|and|endowments| |Charitable|activities|5|=|1,434,143|-|1,434,143|1,445,748| |Other|trading|activities|6|14,620|-|11,620|9,833| |Investment|income|7|35,271|-|35,271|5,539| |Total|income|1,481,034|-|1,481,034|1,461,120| |Expenditure| |Expenditure|on|charitable|activities|8,9|1,305,853|-|4,305,853|1,291,426| |Other|expenditure|1|953|-|953|-| |Taxation|12|427|_|427|3,654| |Total|expenditure|1,307,233|-|1,307,233|4,295,080| |Net income and|net movement in funds|173,801|=|173,801|166,040| |Reconciliation|of|funds| |Total|funds|brought|forward|2,102,269|42,419|2,144,688|1,978,648| |Total funds|carried forward|2,276,070|42,419|2,318,489|2,144,688|

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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Thea notes on pages 16 to 27 form part of these financial statements.

13

Lancaster Training Services Limited Company Limited by Guarantee

Statement of Financial Position

31 July 2025

Sr

		2025	2024
			(restated)
	Note	£	£
Fixed assets
Tangible fixed assets	16	1,167,063	1,152,588
Current assets
Stocks	17	7,014	6,100
Debtors Investments	18 19	181,998 521,000	170,026 435,000
Cash atbank and in hand		656,576	571,428
		1,366,588	1,182,554
Creditors: amounts falling duewithin one year	21	215,162	190,454
Net current assets		1,151,426	992,100
Total assets less current liabilities		2,318,489	2,144,688
Netassets		2,318,489	2,144,688
Funds ofthe charity
Endowmeni funds Unrestricted funds		42,419 2,276,070	42,419 2,102,269
Totalcharityfunds	23	-2,318,489	2,144,688

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 14 November 2025, and are signed on behalf of the board by:

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Mr R W Little Trustee

The notes on pages 16 to 27 form part of these financial statements.

a

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Lancaster Training Services Limited

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 July 2025

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |2025|2024| |(restated)| |Note|£|£| |Cash|flows from|operating|activities| |Net|income|173,801|166,040| |Adjustments|for:| |Depreciation|of|tangible|fixed|assets|46,716|47,183| |Other|interest|receivable|and|similar|income|(35,271)|(5,539)| |Loss|on|disposal|of tangible|fixed|assets|953|-| |Taxation|427|3,654| |Accrued|(income)/expenses|(13,800)|5,610| |Changes|in:| |Stocks|(914)|(1,500)| |Trade|and|other|debtors|20,601|(25,218)| |Trade|and|other|creditors|7,935|1,523| |Cash|generated|from|operations|200,448|191,753| |Interest|received|35,271|5,539| |Tax|paid|(2,427)|(3,654)| |Net cash|from|operating|activities|233,292|193,638| |Cash|flows from|investing|activities| |Purchase|of|tangible|assets|(62,144)|(5,798)| |Purchases|of|other|investments|(86,000)|(435,000)| |Net cash|used|in|investing|activities|(148,144)|(440,798)| |Net|Increase/(decrease)|in|cash|and|cash|equivalents|85,148|(247,160)| |Cash|and|cash|equivalents|at|beginning|of year|;|[571,428]|818,588| |Cash|and|cash|equivalents|at end|of year|20|656,576|571,428|

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The notes on pages 16 to 27 form part of these financial statements.

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Lancaster Training Services Limited Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 July 2025 ageee see eed 1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 5 Penrod Way, Heysham, Lancaster, LA3 2UZ.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the Statement of Recommended Practice applicable ta charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

1. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The accounts show a surplus of £173,801 and there are no materia! uncertainties regarding going concern, There are also total reserves of over £2.3m. Therefore in the opinion of the trustees the financial statements should be prepared on a going concern basis.

Support costs

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attriouted to particular headings they have been allocated te cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Judgements and key sources of estimation uncertainty

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that 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 the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

16

Lancaster Training Services Limited

Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 31 July 2025

3. Accounting policies (continued)

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.

Current tax is recognised on taxable income or expenditure for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting cate.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Endowment fund is a permanent pool of money built from donations on commencement of the company, that was invested to generate income.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• °¢ income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• — income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts 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 unspent, in which case it may be regarded as restricted.

17

Lancaster Training Services Limited Company Limited by Guarantee Notes to the Financial Statements (continuea) Year ended 31 July 2025

3. Accounting policies (continued)

Resources expended

Expenditure is recognised on an accruals basis asa liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• e expenditure on raising funds includes the cosis of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• e — other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Operating leases

Lease payments are recognised as an expense over the lease term ona straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	1% straight line
Plant and machinery	-	25% straight line
Motorvehicles	-	25% straight line
Equipment	-	15%straightline

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Lancaster Training Services Limited

Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 31 July 2025

3. Accounting policies (continued)

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it 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 to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

19

Lancaster Training Services Limited

Company Limited by Guarantee

Notes to the Financial Statements (continue

Year ended 31 July 2025

3. Accounting policies (continued)

Financial instruments

A financial asset or a financial liability 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 arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

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 will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees 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.

1. Limited by guarantee

Lancaster Training Services Limited 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 Office agree to contribute £200 each to the assets of the charity in the event of a winding up.

20

Lancaster Training Services Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued) Year ended 31 July 2025

5. Charitable activities

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2025	Funds	2024
				(restated)
	£	£	£	£
Training allowances	639,861	639,861	567,229	567,229
Course fees	675,604	675,604	764,865	764,865
DGSA	26,699	26,699	25,201	25,201
In House Training	91,979	$1,979	88,453	88,453
	1,434,143	1,434,143	1,445,748	1,445,748

6. Other trading activities

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2025	Funds	2024
				(restated)
	£	£	£	£
Membership fees	229	229	250	250
Miscellaneous income	11,391	11,391	9,583	9,583
	11,620	11,620	9,833	9,833

7. Investment income

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2025	Funds	2024
				(restated)
	£	£	£	£
Bank interest receivable	35,271	35,271	5,539	5,539
Expenditure on charitable activities byfund type
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2025	Funds	2024
				(restated)
	£	£	£	£
Training costs	1,294,000	1,294,000	1,278,425	1,278,425
Supportcosts	11,853	11,853	13,001	13,001
	1,305,853	1+305,853	1,291,426	11291,426
Expenditure on charitable activities byactivitytype
	Activities
	undertaken		Totalfunds	Totalfund
	directly Support costs		2025	2024
	£	£	£	£

1. Expenditure on charitable activities by fund type

9. Expenditure on charitable activities by activity type

21

Training costs

1,294,000

11,853 1,305,853

1,291,426

21

Lancaster Training Services Limited

Company Limited by Guarantee Notes to the Financial Statements (continued

Year ended 31 July 2025

10.	Audit and accountancy
			Audit and
			accountancy	Total 2025	Total 2024
			£	£	£
	Finance costs		11,854	11,854	13,001
11.	Otherexpenditure
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2025	Funds	2024
					(restated)
		£	£	£	£
	Loss on disposal of tangible fixed
	assets held for charity's own use	953	953	-	-
12.	Taxation
	Majorcomponents oftaxexpense
				2025	2024
					(restated)
				£	£
	Current tax:
	UK current tax expense			-	3,654
	Adjustments in respect of prior periods			427	-
	Total current tax			427	3,654
	Taxation			427	3,654
	The charity's non primary income in 2024 exceeded the £80,000 threshold and therefore the excess
	became chargeable to corporation tax.	In 2025 the charity's non primary income did			not exceed this
	threshold.

Reconciliation of tax expense

The tax assessed on the income for the year is lower than (2024: lower than) the standard rate of corporation tax in the UK of 19% (2024: 19%).

	2025	2024
		(restated)
	£	£
Income before taxation	174,228	169,694
Income by rate of tax	33,203	29,853
Adjustment to tax charge in respect of prior periods	427	1,654
Effect of income exempt from tax	(33,203)	(27,853)
Taxonincome	427	3,654

22

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Lancaster Training Services Limited

Company Limited by Guarantee

Notes to the Financial Statements (continue)

Year ended 31 July 2025 a

13. Net income

Net income is stated after charging/(crediting):

Net incomeincome is stated after charging/(crediting):
	2025	2024
		(restated)
	£	£
Depreciation oftangible fixed assets	46,716	47,183
Lossondisposaloftangiblefixedassets	953	-

14. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2025	2024
		(restated)
	£	£
Wages and salaries	768,332	768,985
Social securitycosts Employer contributions to pension plans	78,630 52,687	58,668 50,259
	899,649	877,912

The average head count of employees during the year was 26 (2024: 26). The average number of full-time equivalent employees during the year is analysed as follows:

	2025	2024
	No.	No.
Management and administration	4	4
Operations staff	16	16
	20	20
The number ofemployees whose remuneration forthe year fell withinthe following bands, were:
	2025	2024
£70,000 to£79,999	No. 1	No. 1

15. Trustee remuneration and expenses

No trustee received any remuneration from the charity during either of the two financial years.

Travel expenses reimbursed to trustees amounted to £3,416 (2024 - £3,675).

During the year the charity paid £80,740 (2024 - £80,040) in remuneration to key management personnel.

eee

23

Lancaster Training Services Limited Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2025

16. Tangible fixed assets

	Freehold	Plant and	Motor
	property	machinery	vehicles	Equipment	Total
	£	£	£	£	£
Cost
At1August2024 (as restated) Additions Disposals	1,282,127 - -	317,517 2,296 (12,476)	327,917 42,895 -	67,413 16,953 (20,377)	1,994,974 62,144 (32,853)
At31 July2025	1,282,127	307,337	370,812	63,989	2,024,265
Depreciation
At 1 August 2024	172,988	301,821	308,355	59,222	842,386
Charge forthe year Disposals	10,220 -	12,427 (12,476)	20,753 -	3,316 (19,424)	46,716 (31,900)
At 31 July2025	183,208	301,772	329,108	43,114	857,202
Carrying amount
At 31 July2025	1,098,919	5,565	41,704	20,875	1,167,063
At31July2024	1,109,139	15,696	19,562	8,191	1,152,588

17. Stocks

		2025	2024
			{restated}
		£	£
	Raw materials and consumables	7,014	6,100
18.	Debtors
		2025	2024
			(restated)
		£	£
	Trade debtors	72,098	96,724
	Prepayments and accrued income	109,900	73,302
		181,998	170,026
19.	Investments
		2025	2024
			(restated)
		£	£
	Short-termdeposits	521,000	435,000

24

Lancaster Training Services Limited

Company Limited by Guarantee

Notes to the Financial Statements (continue)

Year ended 31 July 2025

Seee

1. Cash and cash equivalents

Cash and cash equivalents comprise the following:

	2025	2024
		(restated)
	£	£
Cash atbank and in hand Short-term deposits	656,576 521,000	571,428 435,000
	1,177,576	1,006,428

Cash and cash equivalents comprise cash at bank and in hand.

Deposits with original maturities dated greater than three months are classified as short-term investments.

The 2024 short term deposit comparatives have been reclassified from cash at bank to short term deposits.

21. Creditors: amounts falling due within one year

	2025	2024
		(restated)
	£	£
Trade creditors Accruals and deferred income Social securityand othertaxes	36,451 135,260 43,451	33,240 116,487 40,727
	215,162	190,454

22. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £52,687 (2024: £50,259).

Se

25

Lancaster Training Services Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2025

23. Analysis of charitable funds

Unrestricted funds

	Unrestricted funds
		At
		1 August 202			At
		4	Income	Expenditure	31 July2025
		£	£	£	£
	General funds	2,102,269	1,481,034	(1,307,233)	2,276,070
		At
		1 August 202			At
		3	Income	Expenditure	31 July 2024
		£	£	£	£
	General funds	1,936,229	1,461,120	(1,295,080)	2,102,269
	Endowment funds
		At
		1 August 202			At
		4	Income	Expenditure	31 July2025
		£	£	£	£
	Endowmentfund	42,419	-	-	42,419
		At
		1 August 202			At
		3	Income	Expenditure	31 July2024
		£	£	g	£
	Endowment fund	42,419	-	-	42,419
24.	Analysis of net assets between funds
			Unrestricted	Endowment	Total Funds
			Funds	Funds	2025
			£	£	£
	Tangible fixed assets		1,124,644	42,419	1,167,063
	Current assets		1,366,588	-	1,366,588
	Creditors less than 1 year		(215,162)	-	(215,162)
	Net assets		2,276,070	42,419	2,318,489
			Unrestricted	Endowment	Total Funds
			Funds	Funds	2024
			£	£	£
	Tangible fixed assets		1,110,169	42,419	1,152,588
	Current assets		1,182,554	-	1,182,554
	Creditors lessthan 1 year		(190,454)	-	(i90,454)
	Netassets		2,102,269	42,419	2,144,688

26

Lancaster Training Services Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2025

a,

25, Analysis of changes in net debt

			At
	At 1 Aug 2024	Cash flows	31 Jul 2025
	£	£	£
Cash atbank and in hand	571,428	85,148	656,576
Current asset investments	435,000	86,000	521,000
	1,006,428	171,148	1,177,576

26. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
		(restated)
	£	£
Not laterthan 1 year	1,508	286
Later than 1 yearand not laterthan 5 years	3,799	_
Later than 5 years	174	-
	5,481	286

————eee

27

Lancaster Training Services Limited

Company Limited by Guarantee

Management Information

Year ended 31 July 2025

The following pages do not form part of the financial statements.

28

Lancaster Training Services Limited

Company Limited by Guarantee

Detailed Statement of Financial Activities

Year ended 31 July 2025

eee

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----- Start of picture text -----
|||||| |---|---|---|---|---| |2025|2024| |£|£| |Income|and|endowments| |Charitable|activities| |Training|allowances|639,861|567,229| |Course|fees|675,604|764,865| |DGSA|26,699|25,201| |In|House|Training|91,979|88,453| |1,434,143|1,445,748| |Other|trading|activities| |Membership|fees|229|250| |Miscellaneous|income|11,391|9,583| |11,620|9,833| |Investment|income| |Bank|interest|receivable|35,271|5,539| |Total income|1,481,034|1,461,120|

----- End of picture text -----

——$——

29

Lancaster Training Services Limited

Company Limited by Guarantee

Detailed Statement of Financial Activities (continueg)

Year ended 31 July 2025 a

==> picture [411 x 413] intentionally omitted <==

----- Start of picture text -----
|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |2025|2024| |Expenditure|£|£| |Expenditure|on|charitable|activities| |Wages|and|salaries|768,332|768,985| |Employer's|NIG|78,630|58,668| |Pension|costs|52,687|50,259| |Rates|and water|11,586|10,425| |Light and|heat|(582)|(3,135)| |Repairs|and|maintenance|23,601|13,273| |Insurance|16,328|15,839| |Motor vehicle expenses|83,044|88,872| |Legal and|professional|fees|15,026|17,327| |Telephone|4,835|4,177| |Other office|costs|16,157|26,093| |Depreciation|46,716|47,183| |Bad|debis|1,591|553| |Teaching|course|expenditure|130,403|125,146| |ADR|course|fees|6,850|10,110| |Sundry|25,156|35,283| |Cleaning|13,087|11,525| |Computer|costs|8,423|6,685| |Bank charges|3,983|4,158| |1,305,853|1,291,426| |Other expenditure| |Loss|on|disposal|of tangible|fixed|assets|held|for|charity's|own|use|953|-| |Taxation| |Current|taxation|charge/credit|-|3,654| |Over/under|provision|in|prior year|427|-| |427|3,654| |Total expenditure|1,307,233|1,295,080| |Net income|173,801|166,040|

----- End of picture text -----

———————ee

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