LINCOLN PELICAN TRUST LTD Company Number: 02518440 Charity Number: 703143 Financial Accounts for the year ended 31"March 2024 Saul Fairholm Limited Chartered Accountants 12 Tentercroft Street Lincoln LN5 7DB
LINCOLN PELICAN TRUST LTD Financial Ateounts for the ear ended 31" March 2024 CONTEIVTS Company Inforniation Report of the Trustees io. Accountants Report Statement of Financial Activities 12. Balance Sheet l 3-22. Notes to the Accounts 23-24. Detailed Income and Expenditure Account
LINCOLN PELICAIN TRUST LTD Financial Accounts for the ear ended 31" March 2024 COMPANY TN'FORMATION TRUSTEES: Mr Simon Jackson Mr David Georiye Beresford Mr Thomas Hel Hunter Mrs Elaine Gillian Hutton Miss Cati'iona Mary Ann Wheeler Mr Terence William Arthurs Mr Robert Castle Mr Neil James Everatt REGISTERED OFFICE: 2012? Ci"ofton Road Allenby tndustrial Estate Lincoln SOLICITORS: Cbaltcjtoiis Solicitors St Switliin's Court l Flavian Road Nettleham Road Lincoln ACCOUNTANTS: Saul Fairholm Lin]Éted Chai'tei"ed Accountants 12 TeLltercroft Sti-eet Lincoln BIINKERS: National Westsnin%ter BaLth plc Smith5 Bank Bi'aiich 225 1.ligh Street Lincoln COMPANY REGISTRATION NO: 02518440 CHARITY REGISTRATION NO: 703143
LINCOLN PELICAN TRUST LTD Re ort of the Trustees for tbe ear ended 31"March 2024 The Trustees, who arc also the Directors of Lincoln Pelican Trust Ltd foi" the puryoses of coinpany law, present their annual report for tlie year ended 31" March 2024. OBJECTIVES ANL'D ACTIVITIES Pelican Trust was establi.qhed in 1989 to piovide high quality training and work experience in a supportive envll'onment. The charity was established after the closure of a local mental health Iiospital whei'e they had a workshop for their day service users. We are bere pri"11Y for people who wish to work after a period of illness or for any other rea%on which has left them lacking in confidence. The Charitable Company's Coinpany Rcgistration number is 02518440, its Charity Registi'ation nuinber is 703143. The nature of work itself provides ipOrtant beiiefits to the individual regularity, StrUCt.c, self- esteem, social and personal contact, norn]ality, and social stalus - all of which are n]ajor factors. The Tiust aqsists individuals to l'each their potential, which may lead to open einployiiieiit or fuither qualifications. We give individuals tlie opportunity to plan future developinents helpino thejn to Lake greater control of their training and to take pride in their achievemellts. Pelican Trust is a collection of unique businesses on one site desioned to give people the opportunity to retrain in a supportive and caring environment. As a well-established facility the work programmes have been developed to be positive, pi-actical, and rewarding for the individual. Oui. site can accommodate up to 112 placements per week within the v"lOuS departments and is available as a combination of units and facilities. Atteiidance is flexible. froin less than half a day to 4 full days per week, as agreed with the iiidividual. We strive to be an effective and supi)oitive oi'ganization Providing meaningful work and ti'aining in a non-tlll-eatening eiivironnieiit for people with mental health issues, physical disabilities and leai-ning diffLculties and di.sabilities. Pelle] Trust eiiables individuals to progi'ess into work expei'ience, eLnployment, or fLU-ther training/education opportunities. What we ofFei': Conimercial Asiembly WaL'eliousing Joinery Printiiig & Print Fijiishillg Engi'dving Canteeii and Doinestic Soft skill / life courses Job Search
LINCOLN PELICAN TRUST LTD ort of the Trustees for the ear ended 31" March 2024 (Cont'd) Vision Providing opportunities, education, supported vocational training to encourage people to progress with improved confidence, motivation, and self-esteem. Aim l Mission Statement We strive to be an effective and supportive organisation providing ineatLingful work experience and ti-aining in a noii-threaiening enviroiiment for peoplc with mental bealth illness, physic21 disabilities and leaming difficulties. To enable individuals to progress into work experience, employment or furthei. training and education opportllnities. Objective5 To provide programmes of training and support to eiiable individuals to overcome personal baniei"s, we aim to support a minimum 50 individuals per aDnllm on site. To encourage people to enjoy lenIng and find it iewarding and fun as confinned thi'ough feedback fonns and reviews. To support individuals to in a pei'son-ceiitred approach to pi"ogress, develop, grow, and thLlVe. Offer realistic and pi'actical work experience, for all levels of ability, SUPPOrtcd by trained at]d qualified staff. To aqsist people to move into employmeiit, further ti'aining, or voluntary opportunities, targeting 250/0 per atu]um. Community learning and development courses are targeted to achieve 90./0 on retention, achieveinent, and completion. To develop and maintain partnerships across the County to achieve collective regional goals. PUBLIC BENEFIT Training, such a8 goft skill courses and job seeking skills al'e p-amoUnt to the objectives of the Tiust. The past year has scen us do a lot more face-to- face t17ining, getting out into ceiitres once again. Thi'ough funding and using some of our regerves wc Iiave inaiiitaiiied a higb level of delivery by purcliasing laptops which we have loaned out. We have delivered an inci'¢dible 650 em"olments with a retention and pass rate of 99.50/0
LINCOLN PELICAN TRUST I,TD ort of the Trustees for the ear ended 31" March 2024 (Cont'd) We have worked closely with partners to develop and expaud our training offerings, adaptiniF our courses for the needs of their learners. Joinery remains very popular, and with a large safe envirojmieiit we can havc 8 learners per day in the WOTkshop. Many skills are leaint here, especially around health and safety, teamwork, listening and following instrnctions. Meinorial benches, notice boards alld planters remain very popular and we coiitinue to ManUfact"e a lot of laboratory equipn]ent used across the world in colleges and ulliversities. As Trustees we want to ensure all leamers are listeried to and their ideas acted upon, that's why we have a User GTOUP. They ]neet niontlily, independently of the CEO or Trustees. They disciiss future developinents of the Trust and courses. help an'iinge coffee mornings or social events. A representative of this group will then attend the Trustce meetiiigs to shal-e their ideas.
LINCOLN PELIC TRUST LTD ort of the Trustees for the ear ended 31" March 2024 (Cont?d) Printing i"emains our busiest department and with th¢ fast tumover and ever-cliangillg jobs diere is always soillething new foi- the leai'net's. We have hundi-eds of customeL"s who i.eIn to us readily with their i-equireinentq, whcther they be a local parish councils, car dealeiships, City Council, hospitals, or private individuals. We kuow they return to us as they are not only receiving a good quality pi-oduct at a very reasonable pricc but also supporting the Trust in achieving its objectives. Comtnercial asseinbly is a large airy department which can accommodate 15-20 leamers per day gaining vai-led skills. We involve leai-ners in evely aspect, froin off loading custoinet's woi-k, stock control, production conti"ol, completing papeiwork and packing of components. We also train people to use heat sealers, skllink wrap machines. indu%trial staplei's, along with pallet trucks. Teamwork, participation, and health & safety are all skills people will learn in this department. Canteen services are now fully functional again. We offer sandwkches, fruit, snacks and hot and cold bevei'ages throughout the day. We also use this area to train under supervision food pi-epai'atioi) and safe food hygiene courses. Food Safety Our domestic work has continued, and the teacliin(r of deep cleaning and regular maintenance has been parainount this year.
LINCOLN PELICLN TRUST LTD Re ort of the Trustees for the ear ended 31" March 2024 (Cont'd) Our euviromiiental and sustainability policy states we are cominitted to the prevention of pollution, the con8eivation of resoui'ces by reducino consumptioii and nioi'e i'esponsible use of raw aterials and i-esources. We have recelltly upgraded our plate rtkIng machine and gone coiiipletely cheii)ical free. All our inteinal lights are now LED saving power and consumption. We source recycled paper and wherever possible use wood and bleach free pi-odiicts. All our wa.stepaper and Cardboard is sent for Tecycling. The off cuts of wood are made into novelty items and sold at craft fairs whilst the shavings go to local stables for bedding. Lincolnshire Morrisons COUNTY COUNCIL FOUND TION Multiply SKILLS FOR LIFE FOUNDATION
LINCOLN PELIC TRUST LTD ort of the Trustees for the car ended 31" March 2024 (Cont'd) ACHEIVEMENTS AND PERFORIIILNCE We ai"e pleased to report that we have had another good year and the Trust has made a surplus of £5,575 this year despite difficult operating conditions. Trainiiig and education reinain paramount and tlie PersoLial Conununity Developnient Lcaniing funding via Lincoln%hll'e County Council has enabled the Trust to offer life skills this year such as food and nutrition, budgeting, fii'st aid, introduction to sign Ilguage and conmnunication ski118 couises to naLne a few. We will continue to manage our perfortnance and consider any risk factors in the future. FUTURE DEVELOPMENTS AND STRATEGY We will Colltinue to work very closely witb Lincolnqhire County Council and Lincolnshire Partnership Foundation NHS Trnst to eiisure we delivei. quality day services, tt'ainin(y and education to the people of Lincolnshire. FINANCIAL REVIEW At the year end the Charitable Coinpany held the following reserves: . 2024 2023 Restricted Funds Unrestricted Funds 131,518 306,868 135,094 297,717 438.386 432,81 I RESERVES POLICY The reserves need to be sufficient to provide funds should one of the funding streams cease. Given the curi'ent climate this has been assessed to be a miniinuin of twelve months total spend to providc time to I'edirect resoui-ces or in exti-eme cii-cuinstances to withdi.aw the services provided. The TrLiStee3 continiie to work hard to achieve this level. Our reserves have slightly incrcased, and we continue to maintain our targct of £400,000. This value has been calculated lo allow us twelve months for the closure of the Trust IE this were ever reqiiired, which would cover staff salaries and redundancy payments as well as disposal of assels. We have now put into place a maintenance and impi"ovements schedule for the upkeep of the building. INVESTMENT POLICY All investsnents undertakeii on behalf of the Ttust are withoiit risk aiid provide installt access, as nding is i'equired.
LINCOLIN PKLICAN TRUST LTD ort of the Trustees for the ear ended 31" March 2024 (Cont'd) STRUCTURE GOVERNANJ CE AND MANAGEMF.NT Decisions are made jointly by the Board of Trustees. Trustee meetings are held regularly. The day-to- day manaoeiiient has becn delegated to thc Chief Execulive Officcr, Mrs S Gillott under supervision from the Board. The CoLnpany is a registercd charity limited by guarantee with the liability of each of the current meD]bers being limited to £ l and is governed by its Articles attd MemorallduLn of Association. Trustees are recruited where they have a relevant training or healthcare background. Training is provided specific to each Trustee's needs. TRUSTEES RESPONSIBILITIES The trustees (who are also directors of Lincoln Pelican Trust Ltd for the pw'poses of company law) are responsible for preparing the Trustees. Report and the financial statements in accoi'daiice with applicable law and United Kingdom Accounting Standtll'ds (United Kingdom Generally Accepted Accountin(r Practice). 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 Coinpaiiy and of the incoming resourccs and application of E'esources, includino the income and expenditw-e, of the Charitablc Coiiipany for that period. In pi'eparing these financial stateLiieiits, the tTUStees ai"e required to.. select suitable accounting policies and then apply theni con8istently- observe the methods and principles in the Charities SORP. n]ake judgeinents and estllnates that "e reasonable and PLudent' state wh¢ther applicable UK Accounting Stalldards have beeii followed, subject to any Inatei-ial departures disclosed and explained in the financial staternents. aiid pi-ep'e the financial statements on the going coiicern basis unless it is inappropriate to pi'esume that the Chw'itable Company will eontinue in business. The trustees are responsible foi keeping adequate accounting records that disclose with reasonable accui'acy at any time the financial positkon of the Charitable Company and to enable them to ensure that the fwancial stateinents co]nply with the Coinpanies Act 2006. Tbey are also responsible for safeguardin(s the assets of the Charitable Conipany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
LIINCOLIN PELICAN TRUS'f LTD ort of the Trustees for the ear ended 31" March 2024 (Cont'd) RISK REVIEW All risks and business decisTons al-e discussed and acted upon at the Board of Trustees bi-monthly meetiiigs, but additioiial meetings can and are called if required. Lincoln Pelican Trust Ltd lias Indemnity Insw'ance for the Charity and the Board of Trnstces. Health and Safety is taken very seriously within the Trnst and all staff and Tn]qtee's share this vision and bclief. Regular fire drills -e carried oiit as wcll as carrying out risk assessiiients in all areas. Each and every client atteiids a Health and Safety in the Woi-kplace cow'se as part of their induction which can be refreshed at any time. Every staff member has been on a First Aid course as well as Protecting Vulnerable Adults awarencss course. Name: Lincoln Pelican Tiust Limited Company Number: 02518440 Charity Number: 703143 Registered Office: 20122 Crofton Road, Alleiiby Industrial Estate Liiicoln LN3 4NL Trustees: The Trustees of the Charitable Company at the year end wer¢: _ Mr Simon Jackson Mr David George Beresford Mr Thoiiias Henry Hunter Mrs Elaine Gillian Hutton Miss Catriona Mary Ann Wheeler Mr TereLice William Arthurs Mr Robert Castle Mi. Neil James Everatt- appointed 23 July 2024 This report has been pi-epared in accordance with the special pi-ovisions of Pt 15 of the Companies Act 2006 relatino to small companies. ON BEILALF O TH BOARD Mr S Jackson Trus ee Authorised for i%sue on 23, Septeinber 2024 eresford - Trustee
io. LINCOLN PELICAN TRUST LTD Independent examiner's report to the trustees of Lincoln Pelican Trust Ltd ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31" March 2024. Responsibilities and basis of report As the cbarity's trustc¢s of the Company (and also its directors for the purposes of company law) you are responsible for the pi-eparation of the accounts in accordance with the requii'ements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myself that the accounts of the Company are not i'equii'ed to be aiidited 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 Caled out under section 145 of the Charities Act 2011 ('Ibe 201 l Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section l45(5) (b) of the 2011 Act. Independent examiner's statement Since the Company's gross incoine exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confii'm that I am qualified to undeitake the examination because I am a meinber of tbe ICAEW. which is one of the listed bodies. 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: l. accounting i-ecords were not kept in respect of the Company as required by section 386 of the 2006 2. the accounts do not accord with tbose records. or 3. the accounts do not coInply with the accounting i'equirements of section 396 of the 2006 Act other than any requirement that the accounts oive a 'true and fair, view which is not a niatter considered as part of an indepeiidellt examination. or 4. tbe accounts have not been prepared in accordance with the niethods and principles of the Statement of Recommended Practice for accounting and i"eporting by cliarities applicable to charities preparing their accounts in accoL'dance with the Financial Repoiting 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 i'eport in order to enable a proper understanding of the accounts to be l-eached. Signed.. R M Welsh (F.C.A.) Saul Faii'holm Liiiiited Chartered Accountants 12 Tentei'croft Strcet Lincoln LN5 7DB 23, September 2024
LIN'COLN PELICAN TRUST LTD Statement of Finallcial Aetivities for the ear ended 31" M2rch 2024 ncor oratin Summar Income and Ex enditure Account Total Funds 2024 Total Funds 2023 restricted Restricted Funds Funds Note INCOME: Donations and Legacies Income fi.om Other Trading Activities: Other Investment Inconie= Intei'cst Receivable Income from Cbai'itable Activities: Vocational Training Grants 4,857 4,857 8,539 2,124 2,124 1,040 4,637 4,637 918 136,328 46,805 136,328 234,940 140,578 197,391 188,135 TOTAL INCOME 194,751 188,135 382,886 348,466 EXPENL DITURE: Cost of Raising Funds Expenditure on Charitable Activtties 2,124 2,124 1,040 183,476 191.711 375,187 328,361 TOTAL EXPENDITURE 185,600 191,711 377,311 329,401 NET INCOMEI(EXPENDITURE) FOR THE YEAR 9,151 (3,576) 5,575 19,065 TRANSFERS BETWEEN FUNDS 14 NET MOVEMENT IN FUNDS 9,151 (3,576) 5,575 19.065 RECONCILIATIOI%' OF FUNDS Total Funds Bi'ought Foiwat'd 297,717 135,094 432,811 413,746 Toial Funds Carry FoThvard 306,868 131,518 438.386 432,811
12. LINCOLIN PELICAN TRUST I.I'D Balance Sheet as at 31" March 2024 Note 2024 2023 FIXF.D ASSETS Tangible Asscts 10 168,811 192,892 CURRENT ASSETS Stock Debtors Cash at Bank 2nd in Hand 8,546 37,329 243,280 15,274 45,530 195,364 12 289,155 256,168 CREDITORS: Amounts falling due within one year 13 (19,580) (16,249) NET CURRENT ASSETS 269,575 239,919 TOTAL NET ASSETS 438,386 432,811 THE FUNDS OF THE CHARITY Restl'LCted Funds Unrestricted Funds". Other Charitable Funds 14 131,518 135,094 14 306,868 297,717 TOTAL CHARITY FUNDS For the year ending 31" March 2024 the charitable company was entitled to exeinption from an audit under section 477 of the Coinpanies Act 2006 relating to sinall Companies. 438,386 432,811 The membeis have not required the charitable coinpany to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. Tbe Trustees acknowledge their respollsibilities for coinplying with the requireinents of the Coiiipanies Act 2006 with respect to accounting records and the prepdration of accounts. These accounts have been prepared in accoi"dance with the Provisions applicable to coinpanies subject to tlie small COiT)panies regime. al stateinents were approved by the Board of Trustees on 23rd Septembei" 2024 and were beb by.. The fll]aii signed on MrSJ kson - Trustee GBe esfoi'd- Tnistee Company ber.. 02518440
13. LINCOI.IN PELICAN, TRUST LTD Notes to the Financial Accounts for the ear ended 31" March 2024 ACCOUIITING POLICIES Basis of preparation 'rhe financial stateinents have been prepai'ed in accordance with Charities SORP (FRS102) - Second Edition October 2019 - Accounting and Reporting by Charities.. Statemeiit of Recoiiullended Practice applicable to cliarities preping their accounts in accordance with Financial Reporting Standard applicable in the UK (FRS102) (effective ISI January 2019) and the Coinpanies Act 2006. Lincoln Pelican Tnist Ltd tneets the definition of a public benefLt entity under FRS102. Assets and Liabilities are initially recognised at historical cost or transition valuc unless otherwise stated in the relevant accounting policy notes. Preparation of the aecounts on a going concern basis The accounts have been pi'epared on a Iroing conceim basis. The Trustees consider that there 'e no material uncertainties about Lincoln Pelican Trust Ltd.'s ability to continue as a going concei'n. Income recognition IncoLne is recognised when the Charity has eiititlem¢iit to the nds, any p¢ifoiThance conditions attached to the Income have been met, it is probable that the income will be received and the amount can be measured reliably. Inconie fiom charitable activities con.sists of beneficiary genei-ated sales whicli rcpresent tlie llet atiiount of invoices to customers less credit notbs for goods returned, excluding VAT and Grant Incoiiie receivable which is recognised in iiicome when it has entitlerllent to the funds and ally performance conditions attPAched have been met. Donations Dorialions and monies re¢eived from grants are included in the accounts of the year to which they rclate. Expenditure and any specific donations are both included in the same relevant year. Interest receivable Intei'est i'eceivable is accounted for as it accrues. Fund accounting Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. The Trust has discretion to use unrestricted funds for pi"ojects to meet the Charitable Coinpany's objectives. Opei'ating leases Operating lease rentals are charged to the Statement of Financial Activities on a payable basis. Tangible fixed assets The cost of Taiigible Fixed A.qsets are capitalised in the Balaiice Sheet. Depreciation is provided on tangible fixed assets in use at l'ates calculated to write off Lhe cost of each a,sset over its expected useful life as follows- Long Leasehold Pi'opeity Property Improveinents Unrestiictcd Plant and Machinery Restricted Plant and Macliineiy Sti'aight Line Metliod Straight Line Method Straight Line MeLhod Sti-aight Lille Metliod io/, 33/0
14. LINCOLN PELICAN TRUST LTD Notes to the Financial Accounts for the ear ended 31" March 2024 ACCOUNTING POLICIES (CONT'D) Stock Stock is valued at the lower of cost and net realisable value, after tnaking due allowance for obsolete and slow moving items. Debtors Ti'ade and othei. debtors are recognised at the settlement amount due after any trade digcount offered. Pi"epaymeiits are valued at the amount prepaid after taking account of any trade discounts due. Cash at bank and in hand Cash at bank and in hand includes cash and short temi investments with instant access. Creditors and provisions Creditors and piovisions are recognised where the charity bas a present obligation resulting from a past event that will PTobably result in the transfer of funds to a thii'd paty and tbe amount due to settle the obljoation can be measured or estiniated reliably. Creditors and provisions are nonnally r¢cognised at their settlement amount after allowing for any trade discounts due. Taxation The company is exenipt as it meets the definition of a charitable coinpany for UK Corpoi'ation tax purposes. MEMBERS GUAIL4NTEE The Company is a regi8tered charity limited by guai'antee with the liability of each of the current Meiiibers beino limited to £1.
15. LINCOLN PELICAN TRUST LTD Notes to the Financial Accounts for the ear ended 31" March 2024 (Cont'd) DONATIONS NTD LEGACIES 2024 2023 Donations: John Daubei Trust Foundation Sundry Donations 4,000 4,539 4,857 4,857 8,539 The income fi'om donatioL)s was £4,857 (2023: £8,539) which is all unrestricted in both years. INCOME FROM CHARITABLE ACTIVITES 2024 2023 Incoming Resourccs from Social Enteryrises: . Personal Budget Income PCDL Project (Restricted) Lowei. Green Foundation (Restricted) Morrisons Foiindation (Restricted) Beard Sunley Foundation (Restricted) 46,805 94,016 10,000 8,285 4,000 7,500 64,334 46,040 94,211 10,000 B&Q Multiply Pi"ogramme (Restricted) Screwfix (Restricted) ESF - Flying High (Restricted) BNA (Restricted) 10,640 4,500 12,000 20,000 234.940 197,391 Vocational Training Beneficiary Geiierated Sales 136,328 140,578 371,268 337,969 INCOME EARNED FROM OTHER TRADING ACTIVITIES 2024 2023 Room Hire and catei.ing Open Day Pt'oceeds 1,040 1,084 1,040 2,124 1,040 All amounts relate to w]restricted funds.
16. LINCOLN PELICAN TRUST LTD Notes to the FRnancial Aecounts for the ear ended 31" March 2024 (Cont'd) INVESTMENT INCOME All of the charity's investment income of £4,637 (2023: £918) arises from money held in interest bearing deposit accouiits and are uN'estricted. ANALYSIS OF EXPENDITURE ON CHAIUTABLE ACTIVITIES Govern- ance Costs ort Training Services Social Enter 2024 Total 2023 Total rkses Staff Costs Depreciation & Asset Disposal Preinises Rcpairs and Maintenance DiTect Purchases Travel Advertising and Exhibitions Insui'ance Othei" 166,560 49,832 216,392 204,389 29,938 29,938 16,602 20,280 13,908 16,602 10.751 71,354 2,633 9,198 19,949 71,354 2,633 9.837 60,594 1,517 968 3,924 4,538 968 4,905 14,570 1,076 4,277 13,523 981 7,482 2,550 290,666 2,550 84,095 377,311 329,401 Allocation of Support Costs 2,124 81,971 (84,095) 2.124 372,637 2.550 377,311 329,401 Total expenditure was £377,311 (2023.. £329,401) of which £185,600 (2023: £174,474) was unrestrictcd and £191,711 {2023.. £154,927) was restiicted. The Fund Raising Ti'aining activities are perfoi-lned to generate additional income for the Charitable Company. These activities utilisc the existing resourccs and hence the income is used to absorb the ov¢rlicad costs of the Charitable Company. As such the &8sociated costs are allocated equal to the value of the inconie. Support costs are allocated above on the basis of resoui-C¢i Utilised.
17. LINCOLN PELICAN TRUST LTD Notes to the Financial Accounts for the ear ended 31" March 2024 (Cont'd) NET INCOMEI EXPENDITLTRE FOR THE YEAR 2024 2023 This is stated after charging.. Depieciation Staff Costs (Note 9) 29,684 216,392 20,154 204,389 ANALYSIS OF STAFF COSTS AND TRUSTEE REMUNERATION AND EXPENSES 2024 2023 Wages and Salaries Social Security Costs Pension Costs 202,314 10,971 3,107 191,844 9,567 2,978 216,392 204,389 No employees had employee benefits in excess of £60,000 (2023: £60,000). The Charity Trustees were not paid or received any other benefits froiii employLiient with the Trust in the year (2023.. £Nil) neither wei'e Lhey reimbui'sed expenses during the year (2023.. £Nil). No Charity Trustee received payment for professional or other services siipplied to tlie Charity (2023: £Nil). The total employment benefits of the key management pei'sonnel of the Charity were £78,606 (2023.. £75,114). Number Number The average weekly nuniber of employees during the year was as follows: Support Social Entelyrises 12
18. LINCOLN PELICAN TRUST LTD Notes to the Financial Accounts for the ear ended 31" March 2024 (Cont'd) io. TANGIBLE FIXED ASSETS Restricted restricted Long Property Leasehold Improve- Pro er ments Restricted restricted Plant and Plant and Machinerv Machine Total COST: At I, April 2023 Additions Disposals 178,901 33.797 5,288 77,086 264,724 569 {459) 554,508 5,857 (459) At 3181 March 2024 178,901 39,085 77,086 264,834 559,906 DEPRECIATION.. At i$t April 2023 Provisions for the Year On Disposals 26,944 1,433 77,086 213,779 24,675 {205) 361,616 29,684 (205) 3,576 At 31" March 2024 47,383 28,377 77,086 238,249 391,095 NET BOOK VALUE: At 31 Sl Mdrch 2024 131,518 10,708 26,585 168,811 At 31" March 2023 135,094 6,853 50,945 192,892 The net book value at 31. March 2024 represents fixed assets used for-. Restricted restricted Long Property Leasehold Improve- Pro er ments Restricted restricted Plant and Plant and Machiner Machine Total ch"Itable Activity Purposes 131,518 10,708 26,585 168,811
19. LINCOLN PELICAN TRUST LTD INotes to the Financial Accounts for the ear ended 31" Mareh 2024 (Cont'd) 11. STOCK 2024 2023 Stocks Work in ProiFress 6,19l 2,355 11,453 3,821 8,546 15,274 12. DEBTORS 2024 2023 Amounts recoverabIe within one year:. Trade Debtors Prepayniellts and Accrued Income Other Debtors 31,651 3,704 1,974 28,025 7.885 9,620 37,329 45,530 13. CREDITORS 2024 2023 Amounts falling due within one year: Trade Creditors AccNals and Other Creditors 13,8l5 5,765 11.170 5,079 19,580 16,249
20. LINCOLN PELICAN TRUST LTD Notes to the Financial Accounts for the vear ended 31, March 2024 (Cont'd) 14. ANALYSIS OF CHARITABLE FUNDS At Incoming 31.3.2023 Resources Outgoing Resources At 31.3.2024 At 31" March 2024 Transfers Restricted Funds Social Investment Business PCDL Grant Lower Gi"ecn Foundatioii Grant Multiply Progranune Morrisons Foundation Beinard Sunley Foundation B&Q Foundation 135,094 3,576 94,016 131,518 94,016 10,000 64,334 8,285 4,000 7,500 10,000 64,334 8,285 4,000 7,500 135,094 188,135 191,711 131,518 Unrestricted Funds 297,717 194,75 L 185,600 306.868 Total Funds 432,811 382,886 377,311 438,386 At Incoming Outgoing 31.3.2022 Resources Resourees At 31.3.2023 At 31" March 2023 Transfers Restricted Funds Social Investment Business PCDL Grarit Lower Green Foundation Gr¢t Multiply PTogran]nie ESF Grant- Fly High Screwfix BNA 138,670 3,576 94,211 135,094 94,211 10,000 10,640 12,000 4,500 20,000 10,000 10,640 l2,000 4,500 20,000 138,670 151,351 154,927 135,094 Unrestricted Funds 275,076 197,115 174,474 297,717 Total Funds 413,746 348,466 329,401 432,811
21. LINCOLN PELICAN TRUST LTD Notes to the Financial Accounts for the ear ended 31" March 2024 (Cont'd) 14. ANALYSIS OF CILARITABLE FUNDS (CONT'D) Social Investment Business Funding was received to purchase property, incumbent plant and undertake its Tefurbishment with the aim of expansion of services provided. The residual balance represents fixed assets to be depi'cciated in fut"¢ years. Lower Green Foundation Funding was received to pt cover the salaiy of one trakning officer in the year. Lineolnshire County Council Personal Community Development Learning (PCDL) Funding was received to provide a progranune of non-vocational personal and community development and first steps leaming. Education & Skiljs Funding - Fly High Funding was received to assist with the providing the necessary skills to get participants into employment. Multiply Programme Ceiitral govemmeiit funding was ieceived through Lincolnshire County Council to support delivery of courses with imbedded Maths. Screwfix Funding was received to contribute towards the redecoration works to the toilet facilities. BNA FuT)ding was rcceived to support the attendance of 5 learners who would otheiwise not be able to att¢lld due to personal financial circumsta]]ces. Morrisons Foundation Funding was received to contribute towards the refurbishmeiit of the sit¢. Bernard Sunley Foundation Funding was rcceived to contribute towards the refurbishment of the site. B&Q Foundation Funding was i'eceived to contribute towards the rcfurbisllment of the site.
22. LIYCOLN PELIC TRUST LTD Notes to tbe Financlal Accounts for the ear ended 31" Mareh 2024 (Cont'd) 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS restricl'ed Funds Restricted Funds As at 31" Mareh 2024 Non Curreiit Assets Curi'eiit Assets Cun'ent Liabilities 37,293 289,155 (19,580) 131,518 Total Net Assets 306,868 131,518 restricted Funds Restricted unds As at 31st March 2023 Non Current Assets Current Assets Current Liabilities 57,798 256,168 (16,249) 135,094 Total Net Assets 297,717 135.094
23. LINCOLN PELICAN I'RUST LTD Income and Ex enditure Account for the ear ended 31$t March 2024 2024 2023 VOLUNTARY INCOME Donations 4,857 8,539 ACTIVITIF.S FOR GENERATING FUNDS Miscellaneous Incotne 2,124 1,040 INVESTMENT INCOME Bank Interest (Gross) 4,637 918 INCOMING RESOURCES FROM CHARITABLE ACTIVII'IES Beneficiary Gcnerated Sales PCDL Grant Funding Lower Green Foundation Gi'ant Personal Budget Incoine Morrisons Foundation Bernard SunLey Foundation Multiply Protsramtlle B&Q Foundation ESF BNA Screrfix 136,328 94,016 10,000 46,805 8,285 4,000 64,334 7,500 140,578 94,211 10,000 46,040 10,640 12,000 20,000 4,500 371,268 337,969 382,886 348,466 DIRF.CT COSTS Purchases Wages - TechJ]ical Trainees and Helpers Wages - Administration and Welfare Social Security Costs Pension Contributions TELerap¢Litic Paynients 71,354 95,389 61,048 8,045 2,078 2,734 60,594 92,320 55,749 6,783 2,076 2,758 240,648 220,280 CARRIFD FORWARD 142,238 128,186
24. LINCOLN PELICAN TRUST LTD Income and Ex enditure Account for the ear ended 31" March 2024 (Cont'd) 2024 2023 BROUGHT FORWARJ) l42,238 128,186 OTHER COSTS Wages- Admillistration Social Security Costs Pension Coiitributions Training Costs Motor and Travel Expenses Trainee Tiavel Expenses Telephone Charges Rent and Rates Liglit and Heat Adveitising and Exhibitions Insurance Dcpreciation Loss on Asset Disposal Repairs and Renewals Stationery, Postage and Carriage Cleanina Costs External Accountancy and Audit Fees Incideiilals Baidc Charges IT Costs 45,877 2,926 1,029 43,775 2,784 902 915 1,409 108 3,184 695 10,029 1,076 4,277 20,154 126 9,837 514 599 3,577 35 704 4.421 1,988 645 3,008 580 13,233 968 4,905 29,684 254 19,949 1,946 703 3,757 275 716 4,220 136,663 109,121 SURPLUS FOR THE YEAR 5,575 19,065