REGISTERED COMPANY NUMBER: 01555021 (England and Wales) REGISTERED CHARITY NUMBER: 511418 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 FOR LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED (A COMPANY LIMITED BY GUAK4NTEE) DeMer & Sharpe Chartered Certified Ac¢ountants The Old Vicarage Church Close Boslon Lincolnshire PE216NA *ADEPE7VA' 2811012024 COMPANIES HOUSE A08 '#287
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Page Report of the Truste¢$ Independent Examiner'$ Report Statement of Flnanclal Activitles Balanee Sheel 6 to 7 Notes to the Finaneial Sta¢ement$ 8 to 16
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024 The trustees who are also directors of the charity for the PUryKJses of the Companies Act 2006, present their report with the finan¢ial statements of the charity for the year ended 31 Jonuary 2024. The tnJs¢ees have adopied ihe provisions of Accounting and Reporting by Charilies.. Stsiemeni of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective l January 2019). OBJEcfivES AND ACTtVlTIES Objective5 and aims The Association'$ objects and principal aclivities are to cre interest and raise fvnds to maintain, preserve, restore and display the Lancaster Bomber 'City of Lincoln, and any other aeroplanes and objects of historical interest associated with the Lanc&ster or the Royal Air Force for the benefit of the public and as a memorial io Bomber Command personnel during the 1939 - 1945 War. A fiind is being generated in anticipalion of any siluation if the Lancaster ce&8es to fly, so thai appropriate action can be taken as necessary following a decision by the relevant Govemment departments. wholly owned non-chari18ble subsidiary trading company L.L.A. (Sales) Ltd WLS fO¢d on 24th May 1995 and sells items relevant lo the objects of the Association. The Council of Management remain volunleers and the value of their work is Considerable and imssIble to quantify financially. Public benefit In setting objeciives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefiL in¢ludin8 the guidance 'Publi¢ Benefit: running a charity (PB2)'. ACHIEVEMENT AND PERFORMANCE The bi-annual journal could not meet produclion d¢adlines and an ¢rn¢rgency edition was issued in December. It is generally appreciated by members and a wonderful tribute lo those who s¢ed. The Sales company has continued io provide items of iechnical and hislorical interest at events and by post through Ihc associaliort web5it¢. iogelher with trade sales. The donation being made to Lincolnshire's Lancaster Association this year was £NIL due to insulficient profits (2023 - £NtL) FINANCIAL REVIEW Fin#n¢ial po$ltion This year subscriplions have decreas¢d by just und¢r £20,000. SUbriptiOns fees are mAnaged by Connor Harper. No annu41 draw took place. During the year there were donations to BBMF of £12,497 {2023 - £3.077). Reserves have de¢r¢ased by £96,313 (2023 £2.905). £54,743 of this reduction is due to Ihc Heritage Assets being sold to ihe Newark air museum where they were housed. Investment income increased to £12,153 (2023 - £2,624). The cornpany receiv¢d royalties amounting to £1 1,034 (2023 - £18,415) relating to its inveslmeni in Ihe'Lancasterf Film. Reserves policy An objective of the Association's to accumulate as large a fund As possible while meeting the overheads, the preservation of it's property and aircraft. the produclion of the journal and the making of donations to BBMF as required. The Council of Management are confident that a significant fall in income, which it considers lo be unlikely, will not prevent the Association meeting its costs and commitments. While unrestricted funds not invested in fixed assets are over £600,000. the Council consider that lh¢ nature of the Association and continuous financial monitorin8 will ensure that the need to deplete reserves will not arise. Page I
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024 STRucfuRE, GOVERNANCE AND MANACEMENT Governing document The Associaiion is a company limited by guarantee governed by ivs Memorandum and Articles of Association daied 6th April 1981. Due to the level of income of the Association an Independent Examination is perfornied. It is a registered charity with the Charity Commission. There are ¢urrenily approximately 5,000 active members each of whom agree lo contribute an amount not exc¢eding £1 in the event of the Association being wound up. Recruitment Ind APPOilltment of the Council of Manlgemenl The directors of the company are Also ihe charity trusices for ihe purposes of charity 18w and under the Association's Articles are known as members of the Council of Management. Under ihe arti¢lcs one ihird of the Council mernb¢rs retire by rotation at each Annual General Meeting. The Council may appoint any member of the Association as a member of the Council if ihey are considered io be suiiabl¢ with a proven interest. This person has lo be rc-elecied at the ncxt AGM. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01555021 (England and Wales) Regi$tered Charity number 511418 Registered office Unit 4 Wavell Drive Lincoln Lincolnshire LN3 4PL Trustees JSBall TJ Allett M Brunion Chairperson (resigned 24.5.2024) C Harpcr (resigned 24.5.2024) R P Chapman (appoinied l.12.2023) R Evans (appointed l.12.2023) Independent Examlner Dex¢¢r & Sharpe Chartered Certified A¢countant$ The Old Vicardge chUh Close Boston Lin¢olnshire PE216NA TRUSTEES, RESPONSIBILITY STATEMENT The trustees (who are also the directors of Lincolnshire's Lancaster Association Limiled for the purposes of Company law) are responsible for preparing ihe Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom A¢¢ountin8 Standards (United Kingdom Generally A¢cepted Accounting Practice). Page 2
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024 TRUSTEES, RESPO]YSIBILITV STATEMENT- tontlnued Company law requires the trustees to prepare financial statements for each financial year which. give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resou¢$. including Ihe income and expenditure, of the charitable company for Ihai period. In preparing those financial staiernents, the trustees are required to select suilable accounting policies and ihen apply ihem consistently; observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudenr; pPare the financial sthtemenis on the going concem basis unless it is inappropriate to presume ihai the charitable company will ¢onlinu¢ in business. The trustees are responsible for keeping proper acwunting re¢ords which disclose with reasonable accurdcy at any time the financial position of ihe charitable comparty and io enable them 10 ensure that the finan¢ial staiemenls Comply with the Companies Act 2006. They are also resw)nsible for safeguarding Ihe assets of the chorit•ble company and hence for king reasonable 5p$ for the prevention and detection of fraud and oiher irre8ularilies. Approved by order of the ix)ard of truslce5 on 19 Ociobcr 2024 and signed on its behalf by.. J S Ball - Trustcc Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF LIIYCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED Indep¢ndent examiner's report to the trustees of Lincolnshire's Lancaster Association Limited ('¢he Company,) I report to the charity trustees on my examination of the accounts of the Company for ihe year endcd 31 January 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also ils directors for the purpJ5es of Company law) you are responsible for the preparation of the accounts in accordancc with the requirements of the Companies Act 2006 ('the 2006 ACV). Having satisfied myself that the a¢wunts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independenl examination, I report in respecl of my examination of your charity's a¢¢ounts as carried out under Section 145 of the Charities Act 2011 ('the 201 l ACV). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Indepertdent examiner's ststement I have completed my examination. I confimi thai no matters have corne to my attention in connection with th¢ examination giving me cause to believe: a¢couriting records were not kept in respect of ihe Company as required by Section 386 of the 2006 AQL or the Accounts do nol accord with those records. or the accounts do not Comply with Ihc acwunting requirements of Section 396 of the 2006 Act oiher thhn any requiremeni that the accounts give a true and fair view which is not a matter considered as part of an independenl examination. or lh¢ accounts have not been prepared in accordance wilh the methods and principles of ihe Statement of Recommended Practice for accounting and reporting by charities (applicable to Charities preparing their accounts in accoTdance with the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102)). I have no ¢oncems and have come I¢sS no other matters in connection with ihe examination 10 which attenlion should be drnwn in this report in order to enable a proper understanding of the accounts to be reached. MRS NICOLA MICHELLE LENTON FCCA Dexter & Sharpe Chartered Certified Aceounthnts The Old Vicarage Church Close Bo$ton Lincolnshire PE216NA 19 October 2024 Page 4
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2024 2024 Unrestricted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 7,135 5.685 Olher trading activiti¢s Investmenl income 46.781 12,153 66,877 2,624 Totsl 66,069 75,186 EXPENDITURE ON Raising funds 18,701 6,250 Ch4rl¢able 4¢tivities Donations and promotion Governance costs 32,497 111.184 18,646 53,195 TotAI 162J82 78.091 NET INCOMEI(EXPENDITURE) (96J13) (2,905) RECONCILIATION OF FUNDS Total funds brought foNard 977,054 979.959 TOTAL FUNDS CARRIED FORWARD 880,741 977.054 The notes fom) part of these financial statements Page 5
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED BALANCE SHEET 31 JANUARY 2024 2024 UDrtstriet¢d fund 2023 Toial funds Notes FIXED ASSETS Intangible assets Tangible assets Heritage assets Investments 4,000 234318 4,232 241,469 54,743 10 238220 300,446 CURRENT ASSETS Debiors Cash at bank 12 60.017 602,976 49,492 632.950 662,993 682.442 CREDITORS Amounts falling due within one year 13 (20,472) (5.834) NET CURRENT ASSETS 642J21 676.608 TOTAL ASSETS LESS CURRENT LIABILITIES 880,741 977.054 NET ASSETS 880,741 977,054 FUNDS Unrestricted funds 14 880,741 977,054 TOTAL FUNDS 880,741 977,054 The charitable company is entitled to exemption fTom audit under Section 477 of the Companies Act 2006 for the year ¢nd¢d 31 January 2024. The Members have not required the company to obtain an audit of its financial stalement5 for the year ended 31 January 2024 in accordance wilh Section 476 of lh¢ Companies Act 2006. The tntstees a¢knowled8¢ their responsibilities for (8) ensurin8 thai the charitable company keeps accounting records that comply with Seciions 386 and 387 of ihe Companies Ath 2006 and preparing financial statements which give a true and fair view of the State of affairs of the charitable cornpany as at the end of each financial year and of its surplus or deficit for each financial year in accordan¢e with the requirements of Sections 394 and 395 and which otherwisc comply with the requirements of the Companies Act 2006 fflaiing to financial statements. so far as applicable to the charitabl¢ company. (b) The notes fom part of these financial statements Page 6 coniinued...
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED BALANCE SHEET- continued 31 JANUARY 2024 These financial statements have been prepared in a¢cordan¢e with the provisions applicable to charitable companies subje¢t io the small Companies re8ime. The financial siatements were approved by ihe Board of Trustees and authorised for issue on 19 October 2024 and were signed on its behalf by= J S Ball - Trnstee R P Chopman - Trusiee The notes form part of these financial staiernents Page 7
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 CONSOLIDATION The charity is nol required to prepa consolidat¢d accounts in a¢¢ordance with the Charities Act 2011. and has taken advantsge of the oplion not to prepare consolidated financial stalements contained in Section 398 of the Companies Act 2006 on the basis that the charity and its subsidiary undertakings comprise a small group. ACCOUNTING POLICIES Bisis of preparing the financial statements The financial statemenis of the charitable cornpany. which is a public benefit entity under FRS 102, have been prepared in a¢¢ordance wilh the Charities SORP (FRS 102) 'Accounting and Reporting by Charili¢s'. Sialemenl of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Stsnd8rd applicable in the UK and Republi¢ of Ireland (FRS 102) (effective l January 2019),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statemenis have been prepared under the historical cost conveniion, with the exception of investments which are included at morkel value. Income All income is re¢o8nised in the Siaiement of Financial Activities once the charity has entitlement to the funds, it is probable that Ihe income will be rcceived and the amoun1 Can be measured reliably. Th¢ following specific policies are applied to particular categories of income: income from donalions OT grants is recognised when ihere is ¢vidence of entitlement to the gift, receipt is probable and il's amount can be measured reliably. legacy income is Tecognised when receipt is probable and enlitlement is established. income from donated goods is measured ai the fair value of ihe goods unles5 ihis is impraclical to measure reliably, in which case the value is derived from the cost to the donor or ihc estimated resale value. Donalcd facilities and services are recngnised in the accounis when received if the value Can be reliably measured. No amounts are included for ihe contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracied service. This is cl&ssified as unrestricted funds unless the is a contractual requirement for it to be spent on a particular pury)ose and rerned if unspenL in which $¢ it may be regarded as restricted. Expendilure Liabilities are recognised as expenditure as soon as there is & legal or constructive obligation committing the charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the arnount of the obligation can be melsured reliably. Expendilure is accounted for on an accrnals basis and has bccn ¢lassified under headings that aggregate all cost related to the category. expenditure on rnising funds included the costs of all fundraising activities, events. non-charitsble trading activities, and the sale of doned goods. expenditure on chRrilable tivItieS includes all cosis incurred by a charity in undertaking activilies ihai further its charitable aims for ihe benefit of its beneficiaries. including those support cosis and costs relaiing to the governan¢e of the charity apportioned to charitable activities. other expenditure includcs all expenditure that is neither related to raising funds for ihe 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 single activity are allocated directly to that activity. Shared costs are apportioned between th¢ aclivities they Contribute lo on a Teasonable, justifiable and consistent basis. Page 8 continued...
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31 JANUARY 2024 ACCOUNTING POLICIES- tontinued Intsngible 4sstts Int7Angible assets are initially recorded at cost, are subscqucntly staled at ¢ost less any accumulated amortisation and impairment losses. Amortlsation Amortisaiion is calculated so as to wriie off the cost of an asset, less ils cslimated residual value. over the useful life of the &sset as follows.. Wcbsite 2/th straight line If there is an indication that there ha5 been a significant change in amortisation rate, useful life or residual value of an intangible asset, the arnortisation is rcvised prospectively to reflext the new estimates. Tangible fixed Assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixture5 and fittings Motor vehicles Computer equipment 25Yo on cost and 2/0 on reducing balakn¢e 250/0 on reducing balance 250/0 on reducing balance HeritaKe assets The Charity holds heritage assets. which are tsngible fixed assets of hisiorical, artistic or s¢ientTfic importsnce that are held lo advance preservation and conservation objectives of the chariry. Newly acquired heritage assels gifted to the charity are initially recognised at their market value and capilalised. Heritage &8sels are subsequenily recognised at cost. The very long expected lives of heritage assets, due to their naiure, value and need to be protected and preserrfed mean5 that depreciation is not material and is, therefore, not provided. T9Xatlon The charity is excmpi from corporation tax on its charitable activities. Fund aecounling Unrestricted fvnds can be used in accordance with Ihe charitsblc objeciives ai the discretion of Ihe trustees. Designated funds are unrestricied funds eannarked by the trustees for particular future project5 or commitments. ReStri¢d funds can only be used for pafficular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fvnds are raised for particular restricted purposes. Further explanation of the nature and purFKlSe of each fund is included in the noies to the financial statements. Judgement$ and k¢y sourtes of estimation uncertAinty The preparaiion of the financial staiements requires management to make judgements. estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There have been no judgements (apart from ihose involving estimations) that management has made in the process of applying the entity's accounting policies and that have a significant effect on the amounts reci1$¢d in the financial stotemcnts. Page 9 continued...
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JANUARY 2024 ACCOUIYTING POLICIES- eontinued JudgemeDts and key sources of est1rn4tion une¢rt4inty Accounting estimates and 18sumption are made concerning the fvture and, by their nature. will rarely equal the related actual oulwme, No key assumptions and other sources of estimation uncertainty ihat have a significant risk of causing a material adjustment lo ihe carrying amounts of assets and liabilitie5 Wlthin the next financial year have been made. OTHER TRADINC AcfiviTIES 2024 2023 Subscriptions Royalties received Member's day Other income 28045 11,034 6,602 300 48,462 18,415 46,781 66,877 INVESTMENT INCOME 2024 2023 Deposit account inierest 12,153 2,624 NET INCOMEI(EXPENDITURE) Nel incomel(expenditure) is stated after char8inW(crediting)- 2024 2023 Depreciation - owned assets Deficit on disposal of fixed assets Website amortisation Independent Examinees fee 8J47 54,743 232 2,400 16,404 805 872 2,135 TRUSTEES, REMUNERATION A]4D BENEFITS There were no tNstees' remunerdlion or other benefils for the year ended 31 January 2024 nor for the year ended 31 January 2023. Page 10 ontinued.-.
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JANUARY 2024 TRUSTEES, REMUNEIL4TION AND BENEFITS- contirtued Trnstees, expen During the year expenses were reimbursed to the trustees amounting to £592 (2023 - £4.364). In addition C Harper was paid £10.080 (2023 £6,480) in respect of membership and adminislTation services provided. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and Icgacic5 5,685 Other trading activilies Inveslment income 66,877 2,624 Totsl 75,186 EXPENDITURE ON Raising funds 6,250 Charltsble Aetlvitles Donations and promotion Governance costs 18,646 53,195 Totsl 78,091 NET INCOME/(EXPENDITURE) (2.905) RECONCILIATION OF FUNDS Total funds broughi forward 979,959 TOTAL FUNDS CARRIED FORWARD 977.054 Pagell continued...
LINCOLNSHJRE'S LANCASTER ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31 JANUARY 2024 INTANCIBLE FIXED ASSETS Bookuine Website Tota15 COST At l Febrnary 2023 and 31 January 2024 4J58 8J58 AMORTISATION Ai l February 2023 Charge for year 4,126 232 4,126 232 At 31 January 2024 4J58 4J58 NET BOOK VALUE At 31 January 2024 4,01)0 4,000 At 31 January 2023 4,000 232 4,232 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Motor vehicles Computer equipment Toials cosr At l February 2023 Additions 208,198 61.899 109,083 379,180 1,096 1,096 At 31 January 2024 208,198 61,899 109,083 1,096 380276 DEPRECIATION At l February 2023 Charge for year 58,107 759 79,604 7J69 137,711 8J47 219 At 31 January 2024 58,866 86,973 219 146,058 NET BOOK VALUE At 31 January 2024 208,198 3,033 22,110 877 234318 At 31 January 2023 208,198 3.792 29,479 241,469 Page 12 continued...
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JAIYUARY 2024 io. HEIUTACE ASSETS Total MARKET VALUE At l February 2023 Disposals 54,743 {54,743) At 31 January 2024 NET BOOK VALUE At 31 January 2024 At 31 January 2023 54,743 The charity owned Shackleton and Vulcan aircraft which were considered to be Heritage assets. These have been sold lo the Newark air museum where they were located. FIXED ASSET INVESTMENTS At C05t 2024 2023 L.L.A. (Sales) Ltd 2 Ordinary Shares at £1 each The Charity owns the whole of the issued share ¢apitsl of L.L.A. (Sales) Ltd, being 2 ordinary shares of £ l each issued at par. The financial results were as follows.. Surnmary Profit and Loss Accounl.. Turnover Costs 14J17 (17,062) 9,926 (9,001) Operntin8 (loss) I Profit (2,745) 925 PtDfit l (Loss) absorbed (2,745) 925 The shareholdern, funds at the end of the year were 16273 19,018 Page 13 continued...
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JANUARY 2024 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Amounts owed by group undertakings Other debtors Prepayments and accrued income 35041 18,648 5,528 23,241 22.159 4,092 60,017 49,492 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Accruals and deferrcd income 16.632 3,840 2.984 2.850 20,472 5,834 14. MOVEMENT IN FUIYDS Net movement in funds At 31.1.24 At 1.2.23 Unregtricted fund$ General fvnd 977,054 (96J13) 880,741 TOTAL FUNDS 977,054 (96J13) 880.741 Net movement in funds, in¢luded in the abov¢ are as follows.. Incoming resour¢e$ Resources expended Movement in funds Unrestricted funds Gen¢ral fund 66,069 (162J82) (96J13) TOTAL FU]YDS 66.069 (162J82) (96J13) Comparatives for movement in funds Net movement in funds At 31.1.23 At 1.2.22 Unrestricted funds General fund 979,959 (2,905) 977.054 TOTAL FUNDS 979,959 (2,905) 977,054 Page 14 ntinued...
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JANUARY 2024 14. MOVEMENT IN FUNDS- tontinued Compardtive net movement in funds. included in the above are as follows.. Incoming resources Resources expended Movement in ndS Unrestrlcted funds General fund 75,186 (78.091) (2.905) TOTAL FUNDS 75,186 (78.091) (2,905) A current year 12 months and prior year 12 months ¢ombined p)sition is as follows: Net movemenl in funds At 31.1.24 At 1.2.22 Unrestrlcted fuDd$ Genernl fund 979,959 (99,218) 880,741 TOTAL FUNDS 979,959 (99,218) 880.741 A current year 12 months and prior year 12 months a)mbined nel movement in funds, included in the above are as follows: Incoming r¢sources Resources expended Movement in funds Unrestrleted fund$ Gener41 fund 141,255 (240.473) (99.218) TOTAL FUNDS 141,255 (240,473) {99,218) 15. RELATED PARTY DISCLOSURES There were no ff lated paity transactions for the year ended 31 January 2024. Page 15 continued...
LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- eontinyed FOR THE YEAR ENDED31 JANUARY 2024 16. LIMITED BY GUARAIYTEE The association is a company limited by guarantee fomied in 1981 and registered as a charity. The liability of each member is restriaed to £1. The Association is exempt from Cotyoration Tax as long as its income is used for charitable purposes. Page 16