**REGISTERED COMPANY NUMBER: 01555021 (England and Wales) REGISTERED CHARITY NUMBER: 511418**
## **REPORT OF THE TRUSTEES AND**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 JANUARY 2025**
## **FOR**
## **LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED (A COMPANY LIMITED BY GUARANTEE)**
Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA
**LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**|5|to|6|
|**Notes to the Financial Statements**|7|to|14|
|**Detailed Statement of Financial Activities**|15|to|16|
**LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2025**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Association's objects and principal activities are to create interest and raise funds to maintain, preserve, restore and display the Lancaster Bomber 'City of Lincoln' and any other aeroplanes and objects of historical interest associated with the Lancaster or the Royal Air Force for the benefit of the public and as a memorial to Bomber Command personnel during the 1939 - 1945 War. A fund is being generated in anticipation of any situation if the Lancaster ceases to fly, so that appropriate action can be taken as necessary following a decision by the relevant Government departments. A wholly owned non-charitable subsidiary trading company L.L.A. (Sales) Ltd was formed on 24th May 1995 and sells items relevant to the objects of the Association. The Council of Management remain volunteers and the value of their work is considerable and impossible to quantify financially.
## **Public benefit**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public Benefit: running a charity (PB2)'.
## **ACHIEVEMENTS AND PERFORMANCE**
A new membership database and website has been introduced.
The Sales company has continued to provide items of technical and historical interest at events and by post through the association website, together with trade sales. The donation being made to Lincolnshire's Lancaster Association this year was £NIL due to insufficient profits (2024 - £NIL).
## **FINANCIAL REVIEW**
## **Financial position**
This year subscriptions have increased by just over £5,000. Subscriptions fees were managed by Connor Harper to April 2024 and transferred to the new membership system membermojo.
During the year there were donations to BBMF of £15,022 (2024 - £12,497). Reserves have increased by £9,883 (2024 - reduced by £96,313).
Investment income increased to £18,113 (2024 - £12,153).
The company received no royalties this year (2024 - £11,034) this income relates to its investment in the 'Lancaster' Film.
## **Reserves policy**
The objective of the Association is to accumulate as large a fund as possible while meeting the overheads, the preservation of its property, the production of the journal and the making of donations as required. The Council of Management are confident that a significant fall in income, which it considers to 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 the nature of the Association and continuous financial monitoring will ensure that the need to deplete reserves will not arise.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Association is a company limited by guarantee governed by its Memorandum and Articles of Association dated 6th April 1981. Due to the level of income of the Association an Independent Examination is performed. It is a registered charity with the Charity Commission. There are currently approximately 2,000 active members each of whom agree to contribute an amount not exceeding £1 in the event of the Association being wound up.
Page 1
**LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of the Council of Management**
The directors of the company are also the charity trustees for the purposes of charity law and under the Association's Articles are known as members of the Council of Management. Under the articles one third of the Council members retire by rotation at each Annual General Meeting. The Council may appoint any member of the Association as a member of the Council if they are considered to be suitable with a proven interest. This person has to be re-elected at the next AGM.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
01555021 (England and Wales)
## **Registered Charity number**
511418
## **Registered office**
Unit 4 Wavell Drive Lincoln Lincolnshire LN3 4PL
## **Trustees**
J S Ball T J Allett M Brunton Chairperson (resigned 24.5.2024) C Harper (resigned 24.5.2024) R P Chapman R Evans Ms J Owen (appointed 23.11.2024)
## **Independent Examiner**
Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA
Approved by order of the board of trustees on 21 October 2025 and signed on its behalf by:
J S Ball - Trustee
Page 2
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **Independent examiner's report to the trustees of Lincolnshire's Lancaster Association Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2025.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
MRS NICOLA MICHELLE LENTON FCCA
Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA
21 October 2025
Page 3
## **LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2025**
**----- Start of picture text -----**
2025 2024
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 6,787 7,135
Other trading activities 3 34,353 46,781
Investment income 4 18,113 12,153
Other income 4,640 -
Total 63,893 66,069
EXPENDITURE ON
Raising funds 3,985 18,701
Charitable activities
Donations and promotion 19,022 32,497
Governance costs 31,003 111,184
Total 54,010 162,382
NET INCOME/(EXPENDITURE) 9,883 (96,313)
RECONCILIATION OF FUNDS
Total funds brought forward 880,741 977,054
TOTAL FUNDS CARRIED FORWARD 890,624 880,741
**----- End of picture text -----**
The notes form part of these financial statements
Page 4
## **LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **BALANCE SHEET 31 JANUARY 2025**
**----- Start of picture text -----**
2025 2024
Unrestricted Total
fund funds
Notes £ £
FIXED ASSETS
Intangible assets 8 720 4,000
Tangible assets 9 212,637 234,218
Investments 10 2 2
213,359 238,220
CURRENT ASSETS
Debtors 11 55,418 60,017
Cash at bank 624,511 602,976
679,929 662,993
CREDITORS
Amounts falling due within one year 12 (2,664) (20,472)
NET CURRENT ASSETS 677,265 642,521
TOTAL ASSETS LESS CURRENT
LIABILITIES 890,624 880,741
NET ASSETS 890,624 880,741
FUNDS 13
Unrestricted funds 890,624 880,741
TOTAL FUNDS 890,624 880,741
**----- End of picture text -----**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 5
## **LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **BALANCE SHEET - continued 31 JANUARY 2025**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 21 October 2025 and were signed on its behalf by:
J S Ball - Trustee
R P Chapman - Trustee
The notes form part of these financial statements
Page 6
**LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **1. CONSOLIDATION**
The charity is not required to prepare consolidated accounts in accordance with the Charities Act 2011, and has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the charity and its subsidiary undertakings comprise a small group.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 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 statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 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 it's 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.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a 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 amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.
- expenditure on raising funds included the costs of all fundraising activities, events, non-charitable 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.
- 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.
continued...
Page 7
**LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2025**
## **2. ACCOUNTING POLICIES - continued**
## **Intangible assets**
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
## **Amortisation**
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of the asset as follows:
Website - 20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect 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.
Fixtures and fittings - 25% on cost and 20% on reducing balance Motor vehicles - 25% on reducing balance Computer equipment - 25% on reducing balance
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are unrestricted funds earmarked by the trustees for particular future projects or commitments.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements 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 those 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 recignised in the financial statements.
Accounting estimates and assumption are made concerning the future and, by their nature, will rarely equal the related actual outcome. No key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.
continued...
Page 8
## **LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2025**
## **3. OTHER TRADING ACTIVITIES**
|Subscriptions
Royalties received
Member's day
Other income
**4.**
**INVESTMENT INCOME**
Deposit account interest
**5.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Surplus/(deficit) on disposal of fixed assets
Website amortisation
Independent Examiner's fee|**2025**
**£**
**34,251**
**-**
**-**
**102**
**34,353**
**2025**
**£**
**18,113**
**2025**
**£**
**1,221**
**(4,640)**
**180**
**2,640**|2024
£
28,845
11,034
6,602
300
46,781
2024
£
12,153
2024
£
8,347
54,743
232
2,400|
|---|---|---|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 January 2025 nor for the year ended 31 January 2024.
## **Trustees' expenses**
During the year travel expenses were reimbursed to the trustees amounting to £258 (2024 - £592).
In addition C Harper was paid £3,600 (2024 - £10,080) and J Owen reclaimed out of pocket expenses of £7,165 (2024 - NIL) in respect of membership cards expenses.
continued...
Page 9
**LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2025**
## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other trading activities
Investment income||Unrestricted
fund
£
7,135
46,781
12,153|
|---|---|---|
|**Total**||66,069|
|**EXPENDITURE ON**
Raising funds
**Charitable activities**
Donations and promotion
Governance costs||18,701
32,497
111,184|
|**Total**||162,382|
|**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward||(96,313)
977,054|
|**TOTAL FUNDS CARRIED FORWARD**||880,741|
|**8.**
**INTANGIBLE FIXED ASSETS**
Bookazine
£
**COST**
At 1 February 2024
**4,000**
Additions
**-**
Disposals
**(4,000)**|Website
£
**4,358**
**900**
**-**|Totals
£
**8,358**
**900**
**(4,000)**|
|At 31 January 2025
**-**|**5,258**|**5,258**|
|**AMORTISATION**
At 1 February 2024
**-**
Charge for year
**-**|**4,358**
**180**|**4,358**
**180**|
|At 31 January 2025
**-**|**4,538**|**4,538**|
|**NET BOOK VALUE**
At 31 January 2025
**-**|**720**|**720**|
|At 31 January 2024
4,000|-|4,000|
continued...
Page 10
**LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2025**
## **9. TANGIBLE FIXED ASSETS**
|**COST**
At 1 February 2024
Disposals
At 31 January 2025
**DEPRECIATION**
At 1 February 2024
Charge for year
Eliminated on disposal
At 31 January 2025
**NET BOOK VALUE**
At 31 January 2025
At 31 January 2024|Freehold
property
£
**208,198**
**-**
**208,198**
**-**
**-**
**-**
**-**
**208,198**
208,198|Fixtures
and
fittings
£
**61,899**
**-**
**61,899**
**58,866**
**606**
**-**
**59,472**
**2,427**
3,033|Motor
vehicles
£
**109,083**
**(85,800)**
**23,283**
**86,973**
**439**
**(65,440)**
**21,972**
**1,311**
22,110|Computer
equipment
£
**1,096**
**-**
**1,096**
**219**
**176**
**-**
**395**
**701**
877|Totals
£
**380,276**
**(85,800)**
**294,476**
**146,058**
**1,221**
**(65,440)**
**81,839**
**212,637**
234,218|
|---|---|---|---|---|---|
## **10. FIXED ASSET INVESTMENTS**
|**At Cost**|**2025**|2024|
|---|---|---|
||**£**|£|
|L.L.A. (Sales) Ltd|||
|2 Ordinary Shares at £1 each|**2**|2|
||||
The Charity owns the whole of the issued share capital of L.L.A. (Sales) Ltd, being 2 ordinary shares of £1 each issued at par.
The financial results were as follows:
|Summary Profit and Loss Account:|||
|---|---|---|
|Turnover|**4,815**|14,317|
|Costs|**(8,955)**|(17,062)|
||||
||||
|Operating (loss) / Profit|**(4,940)**|(2,745)|
||||
|Profit / (Loss) absorbed|**(4,940)**|(2,745)|
||||
|The shareholders' funds at the end of the year were|**11,333**|16,273|
||||
continued...
Page 11
**LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2025**
## **11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Accruals and deferred income
**13.**
**MOVEMENT IN FUNDS**
At 1.2.24
£
**Unrestricted funds**
General fund
**880,741**
**TOTAL FUNDS**
**880,741**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
**63,893**
**TOTAL FUNDS**
**63,893**|**2025**
2024
**£**
£
**38,942**
35,841
**11,633**
18,648
**4,843**
5,528
**55,418**
60,017
**2025**
2024
**£**
£
**-**
16,633
**2,664**
3,839
**2,664**
20,472
Net
movement
At
in funds
31.1.25
£
£
**9,883**
**890,624**
**9,883**
**890,624**
Resources
Movement
expended
in funds
£
£
**(54,010)**
**9,883**
**(54,010)**
**9,883**|
|---|---|
continued...
Page 12
**LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2025**
## **13. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1.2.23
£
**Unrestricted funds**
General fund
977,054
**TOTAL FUNDS**
977,054
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
66,069
**TOTAL FUNDS**
66,069|Net
movement
At
in funds
31.1.24
£
£
(96,313)
880,741
(96,313)
880,741
Resources
Movement
expended
in funds
£
£
(162,382)
(96,313)
(162,382)
(96,313)|
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.2.23
£
977,054
977,054|Net
movement
in funds
£
(86,430)
(86,430)|At
31.1.25
£
890,624
890,624|
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund|Incoming
Resources
resources
expended
£
£
129,962
(216,392)|Movement
in funds
£
(86,430)|
|---|---|---|
|**TOTAL FUNDS**|129,962
(216,392)|(86,430)|
continued...
Page 13
**LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2025**
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 January 2025.
## **15. LIMITED BY GUARANTEE**
The association is a company limited by guarantee formed in 1981 and registered as a charity. The liability of each member is restricted to £1. The Association is exempt from Corporation Tax as long as its income is used for charitable purposes.
Page 14
## **LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2025**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Other trading activities**
Subscriptions
Royalties received
Member's day
Other income
**Investment income**
Deposit account interest
**Other income**
Gain on sale of tangible fixed assets
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Journal including distribution
Postage and distribution
Advertising and display
**Charitable activities**
Donations - Battle of Britain Memorial Flight
Other donations projects
**Support costs**
**Governance costs**
Rates and water
Insurance
Light and heat
Telephone
Accountancy fees
Legal fees
Carried forward|2025
£
**6,787**
**34,251**
**-**
**-**
**102**
**34,353**
**18,113**
**4,640**
**63,893**
**3,429**
**(65)**
**621**
**3,985**
**15,022**
**4,000**
**19,022**
**1,476**
**3,966**
**951**
**1,221**
**2,640**
**1,334**
**11,588**|2024
£
7,135
28,845
11,034
6,602
300
46,781
12,153
-
66,069
15,076
3,250
375
18,701
12,497
20,000
32,497
1,558
4,035
(813)
1,766
3,630
2,565
12,741|
|---|---|---|
This page does not form part of the statutory financial statements
Page 15
## **LINCOLNSHIRE'S LANCASTER ASSOCIATION LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2025**
**----- Start of picture text -----**
2025 2024
£ £
Governance costs
Brought forward 11,588 12,741
Repairs and maintenance 1,739 2,520
Computer overheads 1,571 1,886
Administration fees 11,951 13,842
Miscellaneous expenses 144 212
Other motor/travel costs 1,215 1,479
Service charge 563 407
Irrecoverable VAT - 13,485
Amortisation of intangible fixed assets 180 232
Depreciation of tangible fixed assets 1,221 8,347
-
Loss on sale of heritage asset 54,743
Bank charges and interest 831 1,290
31,003 111,184
Total resources expended 54,010 162,382
Net income/(expenditure) 9,883 (96,313)
**----- End of picture text -----**
This page does not form part of the statutory financial statements
Page 16