Reglstered number: 00429169 Charity number: 521947 LINDUM SPORTS ASSOCIATION LIMITED UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 AE6RP95M 1410712025 COMPANIES HOUSE A08
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LINDUM SPORTS ASSOCIATION LIMITED CONTENTS Page Reference and admlnistrative details of the charity, Ils trustees and advisers Tru8tees' report Independent exarninerfs report 9-10 Statoment of flnanclal •ctivltles 11 Balance sheet 12-13 Notes to the finan¢ial slatemantg 14-25
LINDUM SPORTS ASSOCIATION LIMITED REFERENCE AND ADMINISTRATIVE OETAILS OF THE CHARITA8LE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Truslees R J Bamford E Wells-cole A J M Maltby J P Newlove A F Perrin B M Smiih D E Taylor T Eves J Marshall (appointed 17 April 2024) L M Stocks (appointed 10 July 2024. resigned 26 November 2024) Company reglstered number 00429169 Charity registered number 521947 Roglst¢r•d offlc• St Glles Avenue Lincoln Llncolnshire LN2 4PE Company #ecretary C P Hoskins Accountants Streets LLP Chartered Accountsnts Tower House Lucy Tower Street Lincoln Lincolnshire LN1 1XW Bankers National Weslminster 8ank PLC 225 High Street Lincoln LN2 1A2 Page I
LINDUM SPORTS ASSOCIATION LIMITED TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Directorsrrrustees present their annual report together with the financlal statements ol the charitable company Lindum Sports Association Limited for the penod 1 April 2024 to 31 March 2025. The Trustees confirm that the Annual Report and financial statements of the company comply wth the current ststutory requirements, the requirements of Ihe Gornpany's governing docurnent and the provisions of the Statement of Recommended Practice (SORP), applicable to charllies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 102). Since the Gharitable company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 15 not required. Obje¢llves and Activltl•8 . POLICIES AND OBJECTIVES In setting objectives and planning for activities. the Directors rustees have given due consideration lo general guidance published by the Charity Commission relating to public benefil. The principal object ol the Company is lo,. Provide or assist in providing facilities for the public benefit for recreation or other leisure time occupation in or in conn8Ction with the City of Lincoln and elsewhere within the County of Lincolnshire. The facilities are made available to all regardless of rank, gender, religlon or politlcs, Usually by means of membership of associated clubs. Subsidiary objectives include.. Ensure that the facilities provided are of the highest possible quality. Ensure that the facilities are kept upto date and in good order with a rolling programme for renewals. replacements, repair and maintenance and when appropriate the introduction of new facilities. Ensure thal the Company operates on a sound financial footing and that financial viabilitylsustainability is maintained. Ensure that the Company evolves to meet thè changing needs and aspirations of m8mbers and stakeholders. Ensure that risk where possible is eliminated and where it is not it is properly managed. Ensure that the Company is well led and is recognised as a leading provider in Lincoln and Lincolnshire. Ensure that the Company is managed properly and effeclively. Ensure efficient use of resources. Facilities include.. Outdoor - Hockey, Cricket and general outdoor sporting facilities. Indoor- Squash, Fitness Studio and social activits'es. Affiliated clubs are.. Lindum Cricket Club, Lindum Squash Club and Lindum Hockey Club. Page 2
LINDUM SPORTS ASSOCIATION LIMITED TRUSTEES. REPORT Icontinuedl FOR THE YEAR ENDED 31 MARCH 2025 The Lindum Squash Club operates as a division of the Lindum Sports Association. The Lindum Cricket Club and the Lindum Hockey Club both operate as stand alone clubs. Achievements and porfomian¢e a. KEY FINANCIAL PERFORMANCE INDICATORS The key financial perfomiance indlcator for the Directorsrrrus188s is generating sufficienl income to malntain its charitable aims and objectives. b. REVIEW OF ACTIVITIES The relationship wlth stakeholders is key lo the future of the Llndum Sports Assoclation. The Lindum Sports Association is keen lo develop and enhance those relationships. With that objects've in mind annual meetings are now held wlth Lin¢oln Minster School, Lindum Cricket Club an(1 Llndum Hockey Club. The Squash Club continues lo operate under the auspices of the Company and during the year under review has made satisfactory progress. The Studio Room continues to be a valuable source of revenue. During the year under review the Affiliated Clubs organised on8 beer festival on Lindum Sports Association premises and of course the fireworks. The profit was shared between Lindum Sports Association and the Affiliated Clubs. The funds received were welcome and thanks go the Affiliated Club5. The economic sltuatlon (including increasing energy costs) continue to have both a direcl and Indlrect impact on the operation of the Lindum Sports Association. The Treasurer supported by the Finance Committee is alert to the importance of keeping costs under control and this aspect features front and cenlral in FinanGe Committee Meetings. ¢. INVESTMENT POLICY AND PERFORMANCE The stated aim of the Charitable Company is to invest any surplus income in the continued maintenance of and improvements lo ils property. Flnanclal revlew a. GOING CONCERN After making appropriate enquiries, the Directorsrrrustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The DirectOrsrUsteeS in reaching this conclusion have considered not only resources, but also profitability and cash flow. For this reason the Directors rustees continue to adopt the going concern basis in preparing the financial statements. Page 3
LINDUM SPORTS ASSOCIATION LIMITEO TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 b. RESERVES POLICY The Board is aware that the condition of the Clubhouse can only deteriorate over time. The Board has set aside a sinking fund for future development of the Clubhouse and other facilits'es. The Directorsrrrustees have an obligation to replace the Hockey AGP wh8n this is necessary and conlinue to set aside such funds as are necessary to achieve this aim. The further aim ol the Board is to build up a fund of £30,000 being about six months costs (les5 sinking funds and dedicaled lunds) as a reserve. At 31st March 2025 the Company had total funds of£945,730. c. PRINCIPAL FUNDING Income during the year was some £284,553 from bar and catering receipts. rental income, donations and other small items. Expenditure was £283,449 giving rise to a surplus of £1,104. Slructure• governance and management . CONSTITUTION The charitable company is registered as a mernbers limited liability company. The charitable company is Gonsliluted under a Memorandum of Associalion and is a registered company number 429169. The charity number is $21947. The charitable company was incorporated and commenced operalions on 6 February 1947. There have been no changes In the objectives since the last AGM. There are 32.651 Ordinary Shares in issue of which 329 shares are Treasury Shares. b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The Company is govemed and managed by a Board ol Trustees (Directors). elected andlor nominated andlor c(Fopted annually. The Articles of Association allows for 8 (eight) elected Directorsrrrustees to be appointed {elected) by shareholders al the Annual Meeting. The Company under its Articles is able to offer a Board position to the constttuent clubs to appoint a member of their committeelboard as a Nominee Directorrrrustee and this will be enshrined in their licenc"e to occupy. These Directorsrrrustees are appointed by the affiliated clubs on an annual basis in accordance with licences to occupy. The Board ha5 the power to cTropt a further 2 (two) Directorstrrustees. The key management personnel are the Directors rustees who are not remunerated. Page 4
LINDUM SPORTS ASSOCIATION LIMITED TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES New Directorsrrrustees are made aware of their responsibilities for the affairs of the charity. All DireCtorSrUsteeS are kept aware of the updates sent out by Ihe Charity Commission which is now made easier by the introduction of electronically transmitted information. The Directorsrrrustees place great emphasis on the Dir8ctOrs rustees fulfilling their duties. in particular: .the duty lo promote the success of Ihe Company. .the duty to exercise independent judgement. The importance ol inouclion for, training for and compliance by Directorsrrrustees is underpinned by a Code of Conduct for Directors which has been developed by the Governance Committee. All Directorsrrfustees are required lo slgn up to this Code of Conduct. Training needs are also identified through the annual skllls audlt. d. SUCCESSION Reference was made to the Charlty Governance Code In last year's TrusteelDirector Report. The Lindum Sports Association is unusijal in that It is an Incorporated charity with shareholders.. Furthermore the charity does not have any employees at executive level and 8 number of Direclorsrrrustees fulfil roles which are effectively Executive Director roles. Against this background the Board does not consider that absolute limits on Ihe terms of office of shareholding Dir6cl0rsrUSleeS andlor Executive Direclorsrrrustees are appropriate. A fresh pollcy has been put together deallng wlth Directorrrruslee Successlon after carelul conslderation of the provisions of Ihe Charity Governance Code. The policy includes= An annual review of the Board and ils experience and expertise via an annual skills audit and one lo one meetings between the Chaimian and each Directorifrustee. A requirement that followng the annual review of the Board and its experience and expertise the Governance Committee put together a campaign to fill any gaps. The Board will endeavour lo ensure that there are always two Elected Directorsrrrustees who are rernoved from the day lo day and are therefore effectively Non Executive Directors-able to act as critical friends, ask th8 difficult questions and hold the Directorstrrustees to account. The Board will ensure that the recruitment process for recruitment of Elected Directorsrrruslees post the AGM 2025 is morg rigorous than in the p85t- Any candidate expressing an interest will be given an Information Pack containing a history of the Lindum Sports Association, a brief summary of its structure and operations and details of the duties and responsibilities of Directorsrrrustees Each candidate will be required to provide a CV. There V11 be an in depth interview. Two written references will be taken. The candidate will be required to provide proof of eligibility to work in the UK. Page 5
LINDUM SPORTS ASSOCIATION LIMITED TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 e. ORGANISATIONAL STRUCTURE AND DECISION MAKING The Company owns and maintains Property 8t St Giles Avenue, Lincoln LN2 4PE. It has no interest in any olher real estate. The Board is responsible for the day to day running of the Associations property, playing field and club house. Responsibilities for leadership and management are divided as follows.. Facilities. FinancelAudit. Governance. Facilltles: Responsibility for Facilities is deployed to one Directorrrrustee {Ihe Facilities Director.) The Facilities Director is responsible for all aspects of facilities including overall strategy and forward planning, development, adminislration of the Lindum Sports Club ensuring Ihal clubhouse. changing rooms. bar and meeting rooms are properly maintsined and where posslble improved and ensuring that the playing surfaces are fil for the sports played and other uses as required. The Facilities Director provides a written report to each Board Meeting lor the purpose of providing colleagues with accountability and assurance. FinancelAudit and Governance are led and managed by subcommittees each of which is chaired by an Elected Oirectorrrmstee. Finan¢elAudit: Made up from three elected Directors, Chairman, Vice Chaiman and Treasurer. The committee is responsible for ensuring that income and expenditure are maintained in sufficient balance to ensure the continued viability of the Association. Quarterly management accounts are produced at each board meeting and compared as variance5 from a full Income and Expenditure budget delemiined at the beginning of each year. Governance: This committee is made up solely of elected directors and chaired by the Company Secretary and is responsible for reviewing the overall governance of the company. ¢on51ilulional rn8tt8rs, compliance and creation and operation of the licences to occupy with the affiliated clubs. The Minutes of the FinancelAudit Subcommittee and the Governance Subcommittee are circulated to all DirectorsrUsteeS for the purpose ol providlng accountability and assurance. f. RISK MANAGEMENT All significant activitie5 undertaken are subject to a risk review by use of a management matrix (risk register) on an ongoing basis. Major risk5 are those which may have an effect on the operational perfomiance of staff and volunteers, and those affecting the members of the Associated Clubs. The major risks have been identified as.. .Economic uncertaintylfinanclal sustalnability. •The need for expenditure on the estate. •Loss of key people .Changing habits and aspirations of members and Stakeholders of atriliated clubs. .Decisions outside the control of the Company. The completion of the Licence lo Occupy wtth Lincoln Minster School substantially reduces the risks for Llndum Sports Association around ewnomic uncertaintylfinancial sustainability. Risk Management is all important and as stated the management matrix (risk register) is reviewed on an ongoing basis as a matter of routine at each Board Meeting. Page 6
LINDUM SPORTS ASSOCIATION LIMITED TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 g. CHARITY GOVERNANCE CODE Please see.. .charitygovernancecode.org Sound governance enables the Lindum Sports Association lo achieve its objectiV8s in a lawful and compliant manner. As one commentator said.. "With good governance there is an increased chance that you will be able to deliver what you say.. The Code is a tool for continuous improvement. The Governance Committe8 are working through the Code with a view to making recommendations to enable Lindum Sports Association lo further improve efficiency and effectiveness. The aim is lo integrate relevant recommendations into the management matrix to provide a robust management and risk regime for the future. Furth6rmor8 LSA has recelved advice that funderslgrant making bodles are moré and more looking al compliance with Ihe Charity Governance Code before making decisions on financial support. Current and future perlods a. CURRENT AND FUTURE DEVELOPMENTS Major CAPEX in the luture include: .Replacement of the AGP. .Access to studio room. .New toilets adjacent to the studio room. Further works on the roof of the Clubhouse. .ReplacemenUrenewal of the perimeter fence. The Direclorsrrruslees look to the future with cautious optimism and to reinforcing the hitherto mutually beneficial relationships with Lincoln Minster School, Lindum Cricket Club, Lincoln Hockey Club and colleagues within Lindum Squash Club. Shareholders are assured that TrusteeslDirectors will continue lo lead and manage the Company wlth all proper prudence and ensure that risks are identified and eliminaled if al all possible. If risks cannot be eliminated the Directorsrrrustees wll ensure that the risks are carefully managed. INFORMATION ON FUNDRAISING PRACTICES As stated in last yearfs report. the Board and in particular the Finance Cornmittee continue5 to look inlo revenue streams lo give the Company long term stability for capital lo be spent on keeping the infrastructure updated. This includes collaboration with the Affiliated Clubs on large events such as the beer festival and fireworks referred lo above and continuing the increase in the use of the Fitness Studio. Page 7
LINDUM SPORTS ASSOCIATION LIMITED TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 MEMBERSISHAREHOLDERS The Directors rustees are fully aware that operations would be impossible without the supportlsponsorship of the Memberslshareholders. All Directorstrrustees record appreciation for the help and support of Memberslshareholders. This report was approved by the Trustees, on 9 July 2025 and signed on their behalf by- E Wells<o Chalmian Page 8
LINDUM SPORTS ASSOCIATION LIMITED INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 . INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LINDUM SPORTS A550CIATION LIMITED (the 'charitable company.) I report lo the charity Trustees on my examination of the accounts of the charitable company for the year ended 31 March 2025. This report is made solèly to th8 charitablé companls Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charitable companls Trustees those matters l am required to state to them in an Independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charilable company and the charitsble companWs Trustees as a body, for my work or for Ihis report. RESPONSIBILITIES AND BASIS OF REPORT As lh6 Truslees of Ihe charitable company (and its director5 for the purposes of company lawl you are responsible lor the preparation of the accounts in accordance wth the requirements of the Companies Act 2006 Ilhe 2006 Act,). Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for Independent examination, I report in respèct of my examinalion of the charitable companvs accounts 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 seclion 14515)<bl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Since the charitable companys gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a mernber of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my exarnination. I can confirm that no matters have come to my attention in connection wilh the examinalion giving me cause lo believe.. accounting records were not kept in respect of the charitable company as required by section 386 of Ihe 2006 Act,. or the accounts do not accord with those records,. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Acl other than any requirement that the account5 give a 'true and fair, view whlch is not a matter considered as part of an independent examination., or the accounts have nol been prepared in accordance with the methods and principle5 of the Stalemenl of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 10211. I have no concerns and have come across no other matters in connection wth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounls to be reached. Page 9
LINDUM SPORTS ASSOCIATION LIMITED INDEPENDENT EXAMINER'S REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 Signed.. Dated.. 10 July 2025 ROBERT ANDERSON FCA STREETS LLP Tower House Lucy Tower Street Lincoln Lincolnshire LN1 1XW Page 10
LINDUM SPORTS ASSOCIATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Restricted Unrestricted funds funds 2025 2025 Total funds 2025 Total funds 2024 Note INCOME FROM: Voluntary income Charitable activities Investments 11,036 600 259,733 13,184 11.636 259,733 13.184 42.593 270.663 4.555 TOTAL INCOME 11,036 273.517 284,553 317.811 EXPENDITURE ON: Charitable activities 5.6.7 29,547 253,902 283,449 288,647 TOTAL EXPENDITURE 29,547 253,902 283.449 288.647 NET INCOME I {EXPENDITUREI BEFORE TRANSFERS Transfers belmeen Funds (18,511) (11,036) 19,615 11,036 1,104 29.164 18 NET INCOME I (EXPENDITURE) BEFORE OTHER RECOGNISED GAINS AND LOSSES (29,547 30,651 1,104 29.164 NET MOVEMENT IN FUNDS 129,547) 30,651 1,104 29.164 RECONCILIATION OF FUNDS: Total funds brought forward 324,484 620,142 944,626 915.462 294,937 650,793 945,730 944,626 TOTAL FUNDS CARRIED FORWARD The noles on pages 14 to 25 form part of these financial statements. Page11
LINOUM SPORTS ASSOCIATION LIMITED REGISTERED NUMBER: 00429169 BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note FIXED ASSETS Tangible assels CURRENT ASSETS Stocks Debtors Cash al bank and in hand 12 693,378 694,414 13 14 3,502 20,942 328,840 4, 084 12.947 316,041 353,284 333,072 CREDITORS: amounts falling due within one year 15 {80,932) (62, 860) NET CURRENT ASSETS 272,352 270,212 TOTAL ASSETS LESS CURRENT LIABILITIES 965,730 964,626 CREDITORS: amounts falling due after more than one year 16 (20,000) (20,OOOJ NET ASSETS 945,730 944, 626 CHARITY FUNDS Restricted funds 18 294,937 324,484 Unrestricted funds: Share capital Unrestricted funds 17 18 32,651 618,142 32,651 587,491 Total unrestricted funds 650,793 620, 142 SHAREHOLDERS. AND CHARITY'S FUNDS 94S,730 944,626 The charitable companvs flnancial statemenls have been prepar8d in accordance with the provisions applicable to companies subjecl lo the small companies regime. The Trustees consider that the charitable company is enlilled to exemption from the requirement to have an audit under the provisions of seclion 477 of the Companies Act 2006 ('Ihe Act") and members have not required the chantable company to obtain an audit for the year in question in accordance with section 476 of the Act. The Truslees acknowledge their responsibililies for complying with the requirements of th8 Companies Act 2006 with respect to accounting records and the preparation of financial 51alemenls. Page 12
LINDUM SPORTS ASSOCIATION LIMITED BALANCE SHEET {continued) AS AT 31 MARCH 2025 The financial statements Kpre approved and aulhorised for issue by the Trustees on 9 July 2025 and signed on th behalf, by= love Th notes on pages 14 to 25 form part of these flnanclal statements. Page 13
LINDUM SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES 1.1 Basls of preparatlon of financial Statements The financial statements have been prepared in accordance with A¢wunting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102). Charities SORP {FRS 1021 and the Companies Act 2006. Lindum Sports Association Lirniled meets the tjefinition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaclion value unless otherwise staled in the relevant accounting policy. 1.2 Company status The charitable company is limited by share capital. The charitable companvs functional and presentational currency is pounds sterling. 1.3 Golng conc•m The trustees assess whether the use of going concem is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of al least one year from the dale ol aulhorisatlon for issue of the financial statements. The Trustees. Report sets out the actions taken post year end in order to balance the charilYs finances and monitor Iheir financial posilion. The trustees have concluded that the charity has adequate resourc&s lo continue in operational existence for the forseeable future and there are no material uncertainties about the charitys ability lo continue as a going concern. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements. 1.4 Incom? All income is recognised once the charitsble company has enlillement lo the income. it is probable thal the income will be received and the amount of income receivable can be measured reliably. Other income is recognised In the period in which11 is receivable and to the extent the goods have been provided or on completion of the service. Page 14
LINDUM SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Icontinued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditur8 is classified by activity. The cosls ol each activity are made up of the total ol direct costs and shared costs, including support costs involved in undertaking each activity. DireGt costs attributable to a single activity are allocated direcdy to that actll*ity- Shared Costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent wilh the use of resources. Support costs are those costs incurred directly in support of expenditure on the objects of the charitable company. Goveman¢e costs are those incurred in connection with administration of the charitable company and compliance with constitutional and stalulory requirements Charitable activities 8nd Governance costs are costs incurred on the charltable companls operations, including support costs and Costs relating to the governance of the charitable company apportioned to charitable aclivits'es. 1.6 Tangibl• fix•d assets and depreclatSon All flxed assets are Inltlally recorded at cost. All asset5 costing more than £500 are capilalised. A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfa115 between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. lrnpairment losses are recognised in Ihe Statement of financial activities incorporating income and expenditure account. Tangible fixed assets are carried at cosl, net of depreciation and any provision for impairment. Depreciation is not charged on freehold land. Depreciation is provided at rate5 calculated to write off the cost of fixed a55els, le5S their eslimated residual value, over their expected useful lives on the following bases: Buildings Plant & machinery AGP and special projects 20fi straight line 25P/o Straight line straight line between 3 and 25 years 1.7 Int•r••t roc•ivabl• Interest on funds held on deposit is included when receivable and the amounl can be measured reliably by the charitable company; this is normally upon notification of the interest paid or payable by Ihe Bank. 1.8 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stoGks. Page15
LINDUM SPORTS ASSOCIATION LIMrfED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES (continued 1.9 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.10 Cash at Bank and In hand Cash at bank and in hand includes cash and short term highly liquid investments with a short matUTity of three months or less from the date of acqu1511ion or opening of the deposil or similar account. 1.11 Llabllltles and provlslons Liabilities are recognised when there is an obligation at the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefil wll be required in seltlement, and Ihe amount of the settlement can be estimated reliably. Liabilities are re¢ognised at the amount that the charitable company anticipate5 il will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. 1.12 Financlal Instruments The charitsble company only has financial assets and flnancial liabilities ol a kind that quallfy as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 1.13 Govamment grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply wllh the conditions attaching lo them and the grants will be received. 1.14 Fund accounting General funds are unrestricted funds which are available for use at the discrelion of the Trustees in furtherance of the general obieclives ol the charitable company and whi¢h have not been designated lor other purposes. Designated funds comprise unrestricted funds that have been set aside by the Truslees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restriction5 imposed by donors or which have been raised by the charitable company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Page 16
LINDUM SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 VOLUNTARY INCOME Restrlcled Unrèslrlcted funds funds 2025 2025 Total funds 2025 Tolal funds 2024 Donations 11,036 600 11,636 42,593 Total 2024 42, 593 42,593 INCOME FROM CHARITABLE ACTIVITIES Restricted Unrestricted funds funds 2025 2025 Total funds 2025 Tolal funds 2024 Sports facllllies and club house 259,733 259,733 270. 663 Total 2024 270,663 270,663 INVESTMENT INCOME Restricted Unrestrlcted funds funds 2025 2025 Total funds 2025 Total funds 2024 Bank Interest Receivable 13,184 13,184 4,555 13,184 13,184 4, 555 Tol812024 4,555 4.555 Page 17
LINDUM SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 DIRECT COSTS Sports Facilitle$ Club House Total 2025 Total 2024 Groundsman fees Repairs and Maintenance Turf, Grass Seed & Fertiliser Bar & Catering Purchases Insurances & Licences Bank Charges Squash Club Costs Wages and salaries Depreciation 10,333 7,145 738 10,333 7,145 738 44,066 10,368 2,135 17,673 46,364 62.692 9.000 9, 752 954 43.808 9,496 2,338 17,445 47,055 63,131 44,066 10,368 2.135 17,673 46,364 22,916 39,776 75,665 125,849 201,514 202,979 Total 2024 77. 109 125,870 202,979 SUPPORT COSTS Sports Facllitles Club House Total 2025 Total 2024 Repairs and Mainlenance Water rates Bookkeeping Subscriptions Sundry Expenses Stationery & Postage Telephone Cleaning Interest on loans Rates Light & heat Wages and salaries 12,025 12,025 2,582 874 3,443 1,452 1,012 797 6,473 600 636 30.877 16,008 12,814 2, 088 933 4,278 1, 704 761 754 5,812 600 653 37,073 14,602 2,582 262 3,443 1,452 612 1,012 797 6,473 600 636 30,877 16,008 7,739 69,040 76,779 82,072 Total 2024 8.350 73,722 82,072 Page 18
LINDUM SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 GOVERNANCE COSTS R•strlcted Unrestricted funds funds 2025 2025 Total funds 2025 Total funds 2024 Legal and professional fees Independent Examiners lees 3.406 1.750 3,406 1,750 1,896 1.700 5,156 5,156 3,596 ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE Staff cosls Depreclatlon Other costs 2025 2025 2025 Total 2025 Tot81 2024 Sports Facilities Club House 39,776 22,916 43,628 109,601 83,404 194,889 85,459 199,592 62,372 Charitable actlvltles 62,372 62,692 153,229 278,293 285,051 Expendilure on governance 5,156 5,156 3.596 62,372 62,692 158,385 283,449 288,647 Total 2024 61,657 63, 131 163.859 288,647 NET INCOMEI(EXPENDITURE This15 Stated after charging.. 2025 2024 Depreciation of tangible fixed assets.. - owned by the charitable company 62,692 63. 131 The Trustees have not received or obtained any remuneration or other financial benefits for the year directly or indirectly from the charitable Cofnpanls funds. 10. INDEPENDENT EXAMINERS. REMUNERATION The Independent Examiner's remuneration amounts to an Independent Examination fee of £1,75012024 - £1,700). Page 19
LINDUM SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. STAFF COSTS Staff costs were as follows: 2025 2024 Wages and salaries 62,372 61,657 The average number of persons employed by the charitable company durlng the year was as follows.. 2025 2024 Total employees No employee received remuneration amounting to more than £60,000 in either year. 12. TANGIBLE FIXED ASSETS AGP and special projects Freehold propèrty Plant & rnachlnery Total Cost Al 1 April 2024 Additions 295,708 249,944 21,401 881,316 40,255 1,426,968 61,656 At 31 MarGh 2025 295,708 271,345 921,571 1,488,624 Depreclation At 1 April 2024 Charge for the year 141,350 6,380 208,507 10,229 382.697 46,083 732.554 62,692 At 31 March 2025 147,730 218,736 428,780 795,246 Net book value At 31 March 2025 147,978 52,609 492,791 693.378 At 31 March 2024 154,358 41.437 498,679 694,414 Included in freehold property is land at C05t of £3.434 vthich is not depreciated. Charges exist against the property in relation lo the potential clawback of monies received from England Hockey and English Sports Council. Page 20
LINDUM SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. STOCKS 2025 2024 Goods for resale 3,502 4,084 14. DEBTORS 2025 2024 Trade debtors Prepayynenls and accrued income 10,754 10,188 3,453 9,494 20,942 12,947 15. CREDITORS: Amounts lalling due wlthln one year 2025 2024 Other loans Trade creditors Other taxation and social security Accruals and deferred income 50,000 17,657 3,830 9,445 50.000 5,208 567 7,085 80,932 62,860 Delerred income Deferred income al 1 April 2024 Resources d8feffed during th8 year Amounts released from previous years 5,280 5,606 {5.280) Deferd income al 31 fvlarch 2025 5,606 Deferred income represents invoices for the use of facilities raised in advance. 16. CREDITORS: Amounts falling due after more than one year 2025 2024 other loans 20,000 20,000 A Trustee made a loan to the charitable company of £30,000. During the previous years £10,000 was repaid leaving a balance of £20.000. The loan 15 unsecured and carries interest at 30/0 per annum which has been waived by the Trustee as a donation lo the charity. Page 21
LINDUM SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. SHARE CAPITAL 2025 2024 Allolted, called up and fully pald 32,651 Ordinary Shares of £1 each 32,651 32.651 18. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR Balance at 31 March 2025 Balance at 1 April 2024 Transfers Inlout Income Exp•ndltur• Designated fund• AGP Fund General Sinking Fund Loan Repayment Fund General Reserve Fund 162,500 38,197 50,000 20,000 (19,480) 182,500 18,717 50,000 30,000 30,000 2SO,697 30,520 281,217 Ggn•ral funds General funds Share capital 336,794 32,651 273.517 (253,902) (19.484) 336,925 32,651 369,445 273,517 (253,902) (19,484) 369,576 Total Unreslrlcted fund$ 620,142 273,517 {253,902) 11,036 650,793 RestrlGted funds Restricted AGP fund R Dimbleby Legacy Three Lane Nets Fund 321,874 2,610 {29,547) 292,327 2,610 11,036 (11,036) 324,484 11,036 (29,547) (11,036) 294,937 Total of funds 944,626 284,553 (283,449) 945,730 Page 22
LINDUM SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF FUNDS (contlnued) STATEMENT OF FUNDS - PRIOR YEAR Balance al 31 March 2024 Balance al l April 2023 Transfers in/out InGome Expenditure De8lgnatod fund8 AGP Fund General Sinking Fund Loan Repayment Fund Cricket Club 180,000 33,447 50,000 700 (17,500) 4, 750 162,500 38,197 50,000 (700) 264,147 (13,450) 250,697 General funds General funds Share capital 266, 743 32,651 275,818 (259,100) 53,333 336, 794 32,651 Total Unreslricled funds 563,541 275.818 (259,100) 39,883 620, 142 Restrlcted funds Restricted AGP fund R Olmbleby Legacy Square Strips Fund Sight Screen Fund Three Lane Nets Fund 351,421 500 (29,547) 321,874 2,610 2,110 3.960 4,230 31.693 (3,960) (4,230) (31,693) 351,921 41,993 (29, 547) (39,883) 324,484 Total of funds 915,462 317,811 (288, 647) 944.626 Page 23
LINDUM SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 SUMMARY OF FUNDS- CURRENT YEAR Balanco at 31 March 2025 Balance at 1 Aprll 2024 Transfers Inlout Income Expendlture Designated funds General funds 250.697 369,445 30,520 119,484 281,217 369,576 273,517 (253,902) 620,142 324,484 273,517 11,036 (253,902) (29,547) 11.036 111.036) 650.793 294,937 Restricted funds 944,626 284,553 (283,449) 945.730 SUMMARY OF FUNDS - PRIOR YEAR 8al8nc8 at 31 March 2024 8alance at l Apnl 2023 Transfers in/out Income Expendilure Designated funds General funds 264, 147 299,394 (13,450) 53,333 250,697 369,445 275.818 (259, 100) 563,541 351.921 275,818 41,993 (259. 100) (29,547) 39, 883 (39.883) 620. 142 324.484 Restrlcted funds 9t5,462 317,811 {288,647) 944,626 The designated AGP fund represents money set aside for future refurbishment and repair work per the original agreement with Sport England and England Hockey. The designated general sinking fund represenls money set aside for the future development of the clubhouse and other facilities. The designated loan repayment fund represents money sel aside for future loan repaents. The designated general reserve fund represents money set aside to cover six rnonths costs as per the reserves policy. The restricted AGP fund represents fixed assets purchased by restricted grant funding. The other restricted funds represent money received or set aside for specific future improvements. Page 24
LINDUM SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS Restrlcted Unrestrlcted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 292,327 2,610 401,051 350,674 (80,932) {20,000) 693,378 353,284 180.932) (20,0001 294,937 650,793 945,730 ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR R8Stricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed a55ets Current assets Creditors due wthin one year Creditors due in more than one year 321,874 2,610 372,540 330,462 (62,860) (20.000) 694,414 333,072 (62,860) (20,000) 324,484 620, 142 944,626 20. RELATED PARTY TRANSACTIONS The charitable company is controlled by Its Trustees. There have been no transactions or balances that are required to be disclosed under FRS 102 other Ihan as disclosed in notes 9 and 16. Page 25