2025-03-31-accounts - Lukes Lane Community Association

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LUKES LANE COMMUNITY ASSOCIATION

Charity No. 525115

Trustees' Report and Unaudited Accounts

31 March 2025

LUKES LANE COMMUNITY ASSOCIATION Contents

	Pages
Trustees' Annual Report	2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Statement of Cash flows	11
Notes to the Accounts	6 to 10
Detailed Statement of Financial Activities	12 to

Page 1

LUKES LANE COMMUNITY ASSOCIATION Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2025.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 525115

Trustees

The following trustees served during the year:

B. Berry
C. Coventry
T. Wilson

Accountants

Brewster & Co (NE) Ltd

5a Station Terrace

East Boldon

Tyne & Wear

NE36 0LJ

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

T. Wilson Trustee 11 July 2025

Page 2

LUKES LANE COMMUNITY ASSOCIATION Independent Examiners Report

Independent Examiner's Report to the trustees of LUKES LANE COMMUNITY ASSOCIATION

I report to the trustees on my examination of the financial statements of LUKES LANE COMMUNITY ASSOCIATION for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.

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 financial statements to be reached.

Charles Brewster ICAEW Brewster & Co (NE) Ltd 5a Station Terrace East Boldon Tyne & Wear

NE36 0LJ 11 July 2025

Page 3

LUKES LANE COMMUNITY ASSOCIATION Statement of Financial Activities

for the year ended 31 March 2025

Unrestricted funds	Restricted funds	Total funds	Total funds
2025	2025	2025	2024
£	£	£	£

12,516	20,000	32,516	17,408
12,516	20,000	32,516	17,408

21,848	20,000	41,848	22,732
21,848	20,000	41,848	22,732
-	-	-	-
(9,332)	-	(9,332)	(5,324)
-	-	-	-
(9,332)	-	(9,332)	(5,324)

(9,332)	-	(9,332)	(5,324)

39,061	-	39,061	44,385
29,729	-	29,729	39,061

Page 4

LUKES LANE COMMUNITY ASSOCIATION Balance Sheet

at 31 March 2025

Charity No. 525115 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 6 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 7 Unrestricted funds 7 General funds Reserves 7 Total funds Approved by the trustees on 11 July 2025 And signed on their behalf by:	2025 £ 30,089 30,089 (360) 29,729 29,729 29,729 29,729 29,729 29,729 29,729	2024 £ 39,421
		39,421 (360)
		39,061 39,061
		39,061
		39,061
		39,061
		39,061
		39,061

T. Wilson Trustee 11 July 2025

Page 5

LUKES LANE COMMUNITY ASSOCIATION Notes to the Accounts

for the year ended 31 March 2025

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 6

LUKES LANE COMMUNITY ASSOCIATION Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 7

LUKES LANE COMMUNITY ASSOCIATION Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 8

LUKES LANE COMMUNITY ASSOCIATION

Notes to the Accounts

2 Statement of Financial Activities - prior year

Unrestricted £ 12,516 12,516	Restricted £ 20,000 20,000	Unrestricted funds 2024 £ 17,408 17,408 22,732 22,732 (5,324) (5,324) (5,324) 44,385 39,061 Total 2025 £ 32,516 32,516	Total funds 2024 £ 17,408
			17,408 22,732
			22,732
			(5,324)
			(5,324)
			(5,324) 44,385
			39,061
			Total 2024 £ 17,408
			17,408

Unrestricted £ 21,848 21,848 of £60,000.	Restricted £ 20,000 20,000 2025 £	Total 2025 £ 41,848 41,848	Total 2024 £ 22,732
			22,732
			2024 £
	360		360
	360		360

Page 9

LUKES LANE COMMUNITY ASSOCIATION

Notes to the Accounts

7 Movement in funds

Incoming resources (including other gains/losses ) £ 20,000 20,000 12,516 32,516 At 1 April 2024 £	Resources expended £ (20,000) (20,000) (21,848) (41,848) Unrestricted funds £ 29,729 29,729 Cash flows £	At 31 March 2025 £ -
		-
		29,729
		29,729
		Total £ 29,729
		29,729
		At 31 March 2025 £
39,421	(9,332)	30,089
39,421 39,421	(9,332) (9,332)	30,089
		30,089

Page 10

LUKES LANE COMMUNITY ASSOCIATION Statement of Cash flows

for the year ended 31 March 2025

Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Net cash used in operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2025 £ (9,332) (32,516) (41,848) 32,516 32,516 - (9,332) 39,421 30,089	2024 £ (5,324) (17,408)
		(22,732) 17,408
		17,408

		-

		(5,324)
		44,745
		39,421

Components of cash and cash equivalents
Cash and bank balances	30,089	39,421

	30,089	39,421

Page 11

LUKES LANE COMMUNITY ASSOCIATION Detailed Statement of Financial Activities

for the year ended 31 March 2025

Income and endowments from: Other Total income and endowments Expenditure on: Other expenditure Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricte d funds 2025 £ 12,516 12,516 12,516 21,848 21,848 21,848 21,848 - (9,332) (9,332) - (9,332) 39,061 29,729	Restricted funds 2025 £ 20,000 20,000 20,000 20,000 20,000 20,000 20,000 - - - - - - -	Total funds 2025 £ 32,516 32,516 32,516 41,848 41,848 41,848 41,848 - (9,332) (9,332) - (9,332) 39,061 29,729	Total funds 2024 £ 17,408
				17,408
				17,408 22,732
				22,732
				22,732
				22,732 -
				(5,324)
				(5,324) -
				(5,324)
				44,385
				39,061

Page 12