Financial reports
We think it's important to be accountable for every penny we receive, so you know that we're doing the best we can with the resources you have given to us. Our accounts are audited by a local firm, Higginson and Co, and published as soon as possible after the end of the financial year (which runs concurrently with the academic year from 1st September to 31st August). They are available for download from here or the Charity Commission website.
LCET is a registered charity number 1081754 and a registered company number 3939801.
Report for LCET Accounts to 31st August 2008
An great year of development with our income growing from the previous year. This was partly due to a capital grant from Investors in Communities to convert the basement of the building from a storage room into a useable space for youth work. We also benefited from substantial grants from three Trusts, including Children in Need. Some of these are in the second year of a three year grant, ending in 2009, so we are aware we will have to find alternative income sources. Local supporters and churches remain a crucial and significant part of our income.
Our chief area of expenditure remains, rightly, our staff at 68%. Building running costs are relatively small, aside from the one-off refurbishment of the cafe and the basement conversion.
We ended the year with a small surplus, though the Board of Trustees recognise that it is not enough given our need to reach a point where we have three months expenditure in hand at any one time.
Report for LCET Accounts to 31st August 2009
A challenging year financially, like a lot of charities, but an exciting one nevertheless. Our three year grant from Children in Need ended in April 2009 (though we're delighted to say it's now been followed by a second three year grant from 2010) as did another three year grant from the Henry Smith Trust (also now renewed). Although we started with very little in reserves, we were able to slightly increase this by the end of the year, so enabling us to get closer to the goal of having three months spending in hand.
Our special fundraising appeal to help cover the costs of summer camp remains incredibly important and enables us to take many young people away who otherwise would not be able to afford it. We are so grateful to those who helped this year, and to those who regularly give each month. Our income from local supporters and churches is crucial to our work.
