Charity registration number 1045650
THE LYONS CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
THE LYONS CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustee6 Mr Jonathan Gibbon Mr Gareth Raa<l Mr Robin Worby Mrs Sarah Eaves Charlty numbér 1045650 Prin¢lpal 1 st Ftoor Nicholas House River Front Enfield Middlesex ENI 3FG Independent examlnor Paul Phillips FCA Ch3s8 Green House 42 Chase Side Enfield Middlesex EN2 6NF Banker8 National Westminster Bank PIC Kingsland Br8nch 74 Kingsland High Street Londtsn E8 2QU Investrnent managers Investec Wealth & Investment 30 Gresham Street London EC2V 7QN
THE LYONS CHARITABLE TRUST CONTENTS Page Truslee8' report Independent exJmineV$ report Stalemenl of financial activi1188 Balan¢è sheet Notes tr> thè financAal slalgmenls 6-12
THE LYONS CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2023 The Tiuslees pre8enl Ihelr annual report and financlal slalements for thé yèar ended 5 Atxil 2023. The finandal statements have been prepared in accordancè with the accounting FK)liei8s set out in note 1 to ihe fin8n¢ial stat8ments and mplY with the Charity's Declaration of Trust, the Charities Act 2022 and'Accoynling and Reporting by Charities.. Slatement of RÉcommended Practice applicable to charili&$ Preparing their accounts in accoidanGe with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 102). las arnended for accounting periods comrllen¢ing from 1 January 20161 Ob5e¢tlv•$ and aetlvltles In planning our actiiqligs for the year, we kèpt in mind the Charily Comtllisslon's guidancé on public benefit. Thè objed of the Foundation is to make granls to organisalions focus&ng upon medical re5eaich, the homele8s and education. Thè Trustees have decided that Ihe most effective method of applying tre Foundation's resourc981s 10 make distributions lo known charitable organisalion8. The trustees have periodic discussions and meetings during which details 01 9rants awarded 8ré raviewed in addition to the processing of new applicalions for funding. Achievements and p¢rformance During the year Ihe Foundation ¢onf8rréd fourteen grants lolalllng £84,OCQ12022.. £83,OOQI. Flnanclal revEew The general policy of the Foundation is for Ihe capital fund lo be maintained al a lovel that will geneiata future ncome sulficienl to maintain a broadly conslanl levd of financial support lo its weferred beneftiarios. The unrèstricted funds as al 5 Apiil 2023 werè £2,243,003 (2022.. £2,482,248). The Trustees have assessed the major risks to which the Foundation is exposed, and ar¢ satisfied that sysl8ms are in place to milale exposufe to the major risks. structure, governanc• and management The Charity is govemed by a D8dar8tion of Tru8t dated 2 March 1995 and a Deed of Enlargement dalad 24 December 2018. The Trustees who ¥eNed during the ye8r and up to the date of signaluig of the financial statements were.. Mr Jonathan Gibbon Mr Gareth Rèad Mr Robin Worby Mrs Sarah Eoves
THE LYONS CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 The Trustees are responsible for preparing the Trustees, Report and the lin8ncial slalements in accordance with applicable law and United Kingdom Accounting Standards Iuniled Kingdom Generally Ac¢epled Accounting Practi¢el. The law applirablo lo ¢harilies in England and Wales requires the Trustee8 lo prepare financial slalemenls for each financial year which gN¢ a true and fair view of the slate of affairs of the Charily and of the incoming iesources and application of rèsourcès of the Charity for that year. In preparlng these financial stalemènts, the Trustees are required lo.. select Suitable accounting policies and then apply Ihèm eonsistenlly: - observe thè methods and principles in the Charities SORP., make judgements and estimates that are reasonable and PTudent', stRte whether applicab16 acwunling standards have b86n followed, suty'ect to any material departures dlsclosed and explained in the finanal stslements., and prepare thè finanual statements on the goinu concern basis unless11 is Ingppropriate lo pie8umè that the charlty 11 conlinue in operation. The Trustees are responsiblè for keeping sufficient accounting rècords thal disc108e with reasonable accuraty 8t any time the financial p05ilion Df the Charity and enable thèm to ensure that the financial statements comply with Ihe Charities Acl 2011, the Charity (Accounts and Reports) Regulalions 2008 and the provisions of the trust dped. They are also responsible for safèguarding the as8els of the Charity and hence for taking reasonable 81eps for Ihè wevention and delection of fraud and other irregularities. The Trustees, report was approved by the Board ofTrusteeg. Mr JoTr3lhan GIOn Trustee Dale..
THE LYONS CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LYONS CHARITABLE TRUST I report lo the Trustees on rny ex8mination of the financial statements of The Lyons Charitable Tiu$l {the Charilyl lorthe year ended 5 Apiil 2023. Responslbllltles and basis of report As the Trustees of Ihe Charity you are responsible for the preparation of the ffinancial sialernenls In accordan with the requirements of Ihe Ch8ritiesAcl 2011 Ilhe 2011 Acti. I report in respect of my examination of the Charity's financial slalemenl3 carried out under 8Èetion 145 of the 2011 Act, In carrying out my examination I have followed all the applicable Directions givèn by the Charity Commission under seclion 14515llbl of the 2011 Act. Independent examiner's ststemènt Your attention is drawn to the fact that the charity has prepared financial statements in accordan with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Slandaid applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Slalemènt of Recommended Praetiee issued on 1 April 2005 which is referred lo in the extant regulations bul h88 now been withdrawn. l understand that this has been done in order lor finanaal statements Its provide a true and fair view in 8cwrdaneè with Generally Accepted A¢counting Practice effectiv$ for reporting periods beginning on or after 1 January 2015. I hav6 completed my examination. l Confirm that no matters havè come to my allenlion in connection with Ihe sxaminalion giving me cause lo believe that in any material ie8p8cI'. accounting records wère not kept in resped tsf the Charity as required by sèetion 130 of the 2011 Act.. or the financial statements do not gcctsrd with those records., or the financial slalements do not comply with the applicable requirements wncerning the form and content ol accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which 18 not 8 matter considered as part of an independent examination. I have no ConM5 and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the financial slalements to be reached. Paul hillips FCA Indepèndent Examiner Brian Paul Limited Chase Green House 42 Chase Side Enfield Middlesex EN2 6NF Dated..
THE LYONS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2023 Unrg$trlcted Unr•8tr1¢ted fund8 funds 2023 2022 Notes Income from.. Investmenl income 52.138 S3,147 Ex enditure Raising funds 20.163 22.051 Charilablo activities 88,585 87,543 Totsl •xpèndlturg 108,748 109,594 Nel gain8llk)ssesl on investments {182,6351 143,533 Net movement In funds 1239.2451 87.086 Fund balances al 6 Aprll 2022 2.482.248 2,395,162 Fund balancgs #t 5 Aprll 2023 2,243.003 2.482.248 The stRtement of financial actwllies indudes All gains and losses rewgnised in Ihe year. All income and gxpendllufe derive trom cLx)1Snulng adivilies.
THE LYONS CHARITABLE TRUST BALANCE SHEET AS AT5APRIL 2023 2023 2022 Nots$ Fixed assgts InvestmltS 11 2,229,050 2.385,864 Current a8sets Cash 81 bank and in hand Cash with investment managers 17,007 7,224 28,168 78,914 24.231 107,082 Crodltors: amounts f4lllng due withln one year 12 110,2781 110.6981 Net currgnl ass¢15 13,953 96,384 Total as89ts lèss current Ilabllities 2,243.003 2,482,248 Incomo funds Unreslricled funds 2.243,003 2,482,248 2,243,003 2.482,248 The financi81 st8temenls were approved by thè Trustees on Jornathan Gibbon Trustee
THE LYONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Accountlng policies Charity Informatlon Th8 Lyons Charitable Trusl is an Ljnincorporaled charity whose piinclpal address is 1s1 Ftoor, Nicholas House, River Front. Enfield, Middlesex. EN13FG. 1.1 Accounting convenllon The financial ststÈments have been prepared in accordance with th& Charity's Dedaialion of Trust, the Charilies Act 2011 and "Accounting and Reporting by Chariliès.. Statement of Recommended Practleè applicable lo tharities preparing their accounts in COrdanc wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {as amended foy accounting peiiods commencing from 1 January 20161. The Charlty is a Public B&nefil Enlily as defined by FRS 102. The Charity has lak8n advantage of the provisions in the SORP for tharibes applying FRS 102 Lspdale Bulle¢in 1 not to prepare a Staternenl ol Cash Flow8. The financAal 81alements have d6parted Irorn the Charities (Accounts and Reportsl Regulations 2008 only lo Ihe exlent requirèd to provide a true and fair vi8w. This departure has involved following the Statement of Recomrnend8d Praclice for charities applying FRS 102 rather than the version of the Statement of RecomTllended Practice which is referred lo in the Regulalions bul which has &nce been withdrawn. The financial statements ai8 prepared in 81erling, which is tho fvnctional currew of the Ch3rty. Monetary amounts in these financial 81olements are rounded to the nearest £. The financial slalemènts have been prepared under thè hlslorlcal cost wnv8ntion, rnodified to includè fixed ssel inveslmenls al fair value. The principal accounting policies adoplad are set out below. 1.2 Go5ng conc¥m At the time of approving the fmancial slalemenls, the Tru88 have a reasonable expectation that the Charity ha8 adequate re80urces to continuo in operational existènce for the foreseèable future. Thus Ihe Tnjstees continue to adopt thè going concein basis of accounting in preparing (he financiBI statemonls. 1.3 Charltablè fuNIs Unrestricted fund8 Arè available for use at the discTelion of Ihe Trustees in furiherance of Ihell charitable objeclives unless the funds have beÈn desi9nated lor other purpose5. 1.4 Incom¥ Income is recognlsed when the Charity is legally entill8d lo it after any parformance conditions have been met. the amounts con be measured rèliably. and il is probable thal income will be received. Cash donations are réeognised on reIPt. Other donations are recognised once the Charity h88 been nolifisd of the donation, unless perf0rrnan conditions require deferral of the amount. Incomg lax recoverable in relation to donations received under Gift Aid or deeds ol covenanl is récognised al the lime of the donation. Legaaes a recognised on receipt or otherwise if thè Charity has been notified of an impèndlng distribution, the amount is known. and receipt is expected. If 8mount is rt known, Ihe legacy is Irealed as 8 conlingent as$&t.
THE LYONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED S APRIL 2023 A¢eountlng pollcigs Icontlnuedl All gains and losses are18kEn to the Slalement of Finanual Activitiès as they ari8e. Realised gains and losses on investments are calculated as thè difference beiween sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of tho financial year. UnaliSed gains and bsses are calculated as the differen between the fair value at the year end and Ihoir carrying value. Reali8ed and unrealised inveslmènl gains and los8es are combined in the Slalèment of Financial Adivili$s. l.S Expenditure ReSoUrS expended are indLJded in the Slatemenl of Finonaal Aclivilies on an aGcruals basis, indusive of any VAT whlch cannot bB iecovefed. They are recognised when Ihore is a legal or constructive obligation to pay for expenditure. Grants and d¢)nations p3y8ble are chaiged to the Slalement of Financial Activilies in the period in which they have been approved and mmrtted. Governance costs r¢presenl those co8ls associated Mth meeting the conslilulSonal and ylatutory r8qulrèments of the charity. 1.6 Fixed a$$èt Investments Fixed a58&t investments arè initially measured at transaction price excluding transaction costs, and are subsequ8nlly measured at fair value at each reportlng dale. Changas in fair value are recognised in net Incomellèxpenditurel for the year. Transaction costs are expensed 8s incurred. 1.7 Cash and cash equlvalenis Cash and cash equivalents include cash in hand, deposits held at call wilh banks, othèr short.term 11qd investments with original maluritias of three fflonlhs or $8, and bank overdrafts. Bank overdrafts arè shown within borrowing8 in ujrrent liabililies. 1.8 Flnanclal instruments The Charity has èlected to apply the provislons of Section 11 'Basic Financial InslrurnÈnts' and Sed40n 12 'Other Financial Instruments Issuès, of FRS 102 lo all ol 118 financial it75truments. Financial instruments ara recognised in the Charills balance sheet when the Charity becomes party to Iho conlractU81 provisions of the instrument, 8asic financl•lassets Basie financAal assets, which include debtors and cash and bank balances, are initially measurèd at transaction price including transaction costs are subsequently carried al amotlised cost using the èffective interest method unless the arrangernant constitutes a financing transaction, where the transaction is rnea$urèd at Ihe presonl value ol the future receipts diseounled al a market rale of interest. Finandal assets classilled as receivablÉ wthin one year are not amortised.
THE LYONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Accounting pollcles Icontlnuedl Baslc financlal Ilabilltles Basi¢ finanoal liabilitie5, induding creditors and bank loans are Initially recognised al Ifansaction PfiC8 unless thè arrangement COn81itutes a firnan¢ing transaction, whère the debt in5lrumenl is mèasured al the present Valu? of the future payments discounted at a market rate of intere81. Financial liabilities classified 8s payable within one year aré not amortised. Debt inslrumenls are subsequently Carried al amort18ed cost, using th¢ effective intèrèst rate meth(xl. Trade crèditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operalions from suppliers. Amounts payable are classified 89 eurrent liabililies il paymènt is due within one year or less. If not, IhÈy are psented as non-currenl liabilities. Trade credilors are recognised initially al transticlion price arKI Subseq11Y mèasured at amorti8ed cost using thé effective interest method. D8r8cognltlon of financlal liabilld•s Finan¢i81 liabilities are dere¢ognised whèn the Charity's contractual obligalivn¥ expire or are dischargod cancelled. Investhiènt Income Unrestricted Unrestrietsd funds fund$ 2023 2022 Income from lisled inveslments Interest re1VbI& 52,099 39 53.146 62.136 53.147
THE LYONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 5 APRIL 2023 Ralsing funds Unrgstricted Unrestricted funds funds 2023 2022 Inve81mènt managemtsnl 20,163 22,051 2D,163 22.051 Charltable actlvlties Charitable Charltable aetlvStle8 actlvitles 2023 2022 Grant funding of activllies (see note S) Governan¢& ¢osts (see nolo n 64,000 4.585 83,000 4,543 88.585 87,S43 Grants payablè Charktable Ch8rltable actlvitie¥ activities 2023 2022 Granls lo Inslllulions.. MIND Foodcyde Truss811 Trust Alzheimerfs Research Shelter The Refugee Counal Versus Arthritls Sameyou Healthcarè Workers Curwen Prinl SILJdy Centre Biili5h Red Cross UNICEF strèètsmart Macmillan Canw Support 5.000 5,000 5,000 10,000 5,000 5.000 10.000 3,000 3,000 3.000 7,SOD 7,500 5,000 10,000 5,QOO 5.000 5.000 10,000 5,000 5,000 10,000 5,000 3,0(X) 7.500 7,500 5,(K)O 10,LX)O 84,000 83,(Y)O
THE LYONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 5 APRIL 2023 Trustees None of th¢ Trustees lor any persons connecled wllh them) received any remuneration or benefits fwm Ihe Charity during the year èxcept as disclosed in nole 14. Support and govemanco Costs Support Govèrnance Costs CO8ts 2023Support costs Governance costs 2022 Adrnlnistratic fees Accountancy and Independent Examlnerfs fees Bank charges Profil on foreign exchangè 3,300 3,300 3.353 3,353 1,314 1,314 1,260 1,260 1311 1311 1741 1741 4.585 4,585 4,543 4,543 An8lys8d beiween CharilablÈ activities 4,585 4,585 4,543 4,543 Nét galnslllo8se¥l on Investmènts Unrèstrlcted Unre8trlcted funds funds 2023 2022 Revaluation of invtrslmants 1182,635 143,533 Employee There w¢re no employéès duiing the year. 10 Taxatlon The charity ig exempt fiorn lax on income and gains falling within section 505 of the Taxes Acl 1988 or section 252 of the Tax8tion of Chargeable Gains Act 1992 to the extent that these applied lo ils charitable objects. 10-
THE LYONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 11 Flxed asset Investm¢rtts Listed Investments Cost or valuatlon Al 6 April 2022 Additions Valuation dianges Disposals 2,385.864 237.787 1182,6351 (211,9661 At 5 April 2023 2,229.05Ql Carrying amount At 05April 2023 2,229.050 At 0SApril 2022 2,385.884 The histortc cost of the inveslmenl8 al SApril 2023 was £1,958,02012022'. £1,939,249). 12 Creditor8- amounlg falllng due wllhin onè yèar 2023 2022 Ac¢ruals and deferred income 10,278 10,698 13 Analy¥i¥ of nat ass•ts beiween fund Unrastrlcted Unrestri¢tsd funds funds 2023 2022 Fund balaneÈs at 5April 2023 are repre89nted by.. Investments Cuirent assetsloiabililtesl 2,229.050 2.385,864 13,953 96.384 2.243.003 2,462,248
THE LYONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 14 Relat•d paty tran8actions Mr R E Worby, a Trustee. is also 8 director of MO0 Northem Home Countie8 Limited. DuTlng Ihe year Ihè Charity became liable to pay sums to Moore Northem Home Counties Limited relating lo accountsncy servKes of £3,300 (2022.. £3,353). 12-
Charlty regi¥tratlon numbèr 10d5650 THE LYONS CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
THE LYONS CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustee8 Mr Jonathan Gibbon Mr G3relh Read Mr Robin Worby MTS Sarah Eaves Charlty number 1045650 Princlpal Addr65S 1 st Floor Nicholas Housè RivFr Front Enfield Middlesex EN13FG Independent examin*r Paul Phillips FCA Chase Green House 42 Gha5e SSda Enlidd Middlesex EN2 6NF Banker8 Nali<)nal Westminster Bank PIC Kingsland Bfanch 74 KM)gsland High Stre81 London E8 2QU Investment man•gws Investec INeallh & Investment 30 GrÉsham Streel London EC2V 7QN
THE LYONS CHARITABLE TRUST CONTENTS Page Trus1è8s' report Independènt èxaminerfs report Stslem¥nt of financAal activities Balance she8t Note5 to the financial 8talemenls 6-12
THE LYONS CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5APRIL 2023 The Tru¥l¢es present their anrtU81 report and financial statements for the year er&d 5 April 2023. The financial statements have been prepared in accordance with the accountlng policies $ot out in note 1 to ihe financial statements and cgmply with the Charity's Declaration of Trust, the Chaiilies Act 2022 and "Accounting and Reporting by Charities.. Slalément of Recotpmended Practicè applicable lo tharities prèparin9 their awounls in awordance with the Fin8ncia1 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1(Y21' {a8 amended for accountinu porlods comrnencing from 1 January 20161 Objectives and activitles In planning our activities for the year, we kept in mind the Charity Commission's guidancè on public benefit. The objEd of the Foundation 18 to make oranls to organisations foojssing upon medical resfyarch, the homeless and education. The Truste6s have decided that the most eflective method of apYing the Foundation's resources is to make distributions lo known charitable organisations. The trustees have periodic discussions and meetings dIng which detsSls of grants awarded are raviewed in oddltion to the pr(Kesging of new applicallons for fundiny. Achievements and performance During the year the Foundation conferre(I fout1een grants lolalling £84.000 (2022.. £83.01. Flnanclal revlÈw Tho general policy of the Foundation is for the capital fund lo be maintaird at a leve5 that will generate future income sufficient to maintain a broadly constant level of financial support to its preferred benefickgries. The unrèstricted funds as at 5April 2023 were £2,243,3{2022.. £2,482,248). The Trustees havè assessed the major risks to whlch tho Foundation is èxposed, and aro sallsfied Ihal systems are in place lo mi119ate exposure lo thè major risk8. strueturei goveman¢e and management The Charity is govèrned by a Declaration of TrLEs1 dated 2 March 1995 and a Deed of Enlargement dated 24 December 2018. The Trustee5 who served during Ihe year and up ID the date of signalurg of the finanaal statements weTe-. Mi Jonath8n Gibbon Mr Gareth Read Mr Robin INorby Mr$ Sarah Eaves
THE LYONS CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 The Trustees are r&sponsible for preparing the Tru51Bes' Report and Ihe finanrAal slaternenls in accordance wlth applicable law and United Kingdom Accounting Stsndards IUnild Kingdom Gènerally Accgpled Accounting Practi1. The law applicable to charities in England and Walos requires Ihe Trustees to prepare financial staternenls for each financial yoar whlch give a true and fair view of the state of affair8 of the Charity and of the incoming resourcés and application of resources of the Charity tor that year. In preparing Ihesg financsal statements, the Trustees are rèquired to.. selecl suitable 8ccounling policies and then apply them ¢onsislently', observe Ihe mplhods and principlès in Charilios SORP.. - make judgèments and e81imales that are reasonabte aThJ prudent., slate whether applicable accounting standards have been followed, subjed lo any mal&iial Ilepartures disclosed and explained in the fin8naal slalemenls., Ènd preparo the finanual statements on the going concèrn basis unless11 is inappropriate to presume thal the charity will continue in operation. The Tiustees are responsiblè for keeping sufficient accounting récords that dis¢lose with reasonable accuracy at any lime the financial pt>sition of the Charbty And enaNe them lo ensure that the financial slalemenls comply wlh Ihe Charities Act 2011, the Charity (Accounts and Reportsl Regulations 2008 and the provisions of the trust deed. They are also responsible lor safeguarding the assets of the Charily and htrnce for laking rèasonable steps for the prevention and detection of fraud arid other irregularilièg. The Trustee5' repNt was approved by thè Board ol Trustees. Mr Jonathan Gibbon Trusleg Dale..
THE LYONS CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LYONS CHARITABLE TRUST I report lo the Trusleos on my oxaminalion of the financial statements of The Lyons Charitable Trust Ilhe Charilyl for the year ended 5 April 2023. Responsibllliles and basls of report As the Trustees of the Charity you ale responsible for the preparation of the financial $18lemenls in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of thè Charity's ffinancial statements Carried out under Séetion 145 of the 2011 Act. In carrying out my examination 1 have followed all the applicable Directions givén by the Charity Cornmission undor section 1451Sllb) ol the 2011 Aet. Indepèndent examIneS stst•ment Your atlenlion is drawn lo the fact that the charity has prepared financial staternenls in accordan with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Stalernènt of Reoommended Practi issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. understand that this has been done in order for financial slalements to provide a true and fair view in accordan with Generally Accepted Accounting Practice effectivè for reporting periods beginning on or after 1 January 2015. I have ¢ompleted my examination. I confimi that no matters have come lo my attention in connection wlth the examination giving me cause lo believe that in any material respect.. accounting records were not kèpt in respect of the Charity as r8quired by section 130 of the 2011 Act., or the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements Conrning the form and content of accounts set out in the Charities (Accounts and Report51 Regulations 2008 other than any requirement Ihat Ihe accounts give 8 true and fair view which is not a maller eonsidered as part of an independent èxamination. I have no concerns and have come across no other mallers in connection with the examinalion lo which attention should be drawn in this report in order to onable a proper understanding of the financial statements lo be reached. Paul Phillips FCA Independent Examiner Brian Paul Lirniled Chase Green Hous& 42 Chase Side Enfield Middlesex EN2 6NF Dated..
THE LYONS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2023 Unrestrl¢ted Unrastrlcted fund$ funds 2023 2022 Notes Ineome from: Investmanl incoffle 52,138 53,147 Ex iture o Raising funds 20,163 22,051 Charilabte activities 88.58S 87.543 Total 8xpendlture 108.748 109,594 Nel gainslllossèsl on inveslments 1182,635} 143.533 Net movomont in funds 1239,2451 87,(*6 Fund balances 816 April 2022 2.482,248 2,395,162 Fund balan¢o$ at S Aprll 2023 2.243,Of)3 2,482.248 The statement of finanual activities ¢ludeS all gains and losses iecognised in the year. All incorne and expendllure derive from ntInuing activilies.
THE LYONS CHARITABLE TRUST BALANCE SHEET ASAT 5APRIL 2023 2023 2022 Not•s Fixèd assets Investrnents 11 2,229,050 2,385,884 Current a88018 Cash at bank and in hand Cash with investment rnanwJer8 17.007 7.224 28,168 78,914 24,231 107,082 Creditors: amounts falllng due wbthin on¢ year 12 110,2781 110.6981 N&t current assets 13,953 96,384 Total assets I8 currènt Ilabilitl•s 2.243,003 2,482,248 Incomè funds Unrestriclod fur>ds 2,243,003 2,482.248 2,243,003 2.482.248 The financial stslements were approved by the Trustees on . r Jonathan Gibbon Trusteè
THE LYONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Accountlng policies Charlty infomiation The Lyons Charitable Trust is an unincoiporated chawily whose principal addiess is 1st Floor. Nicholas Hou8e, River Fr1. Enfield, Middl8sex. EN13FG. 1.1 Accountlng convention The financial slalements havg bgen prepared in accordanco wlth the Charily's Declaration ol Trust, the Charities Act 2011 and °Accounling and Reporting by Charilitts.. Stalemenl of Recommended Pradi applicable lo charities preparing their accoun15 in accordancè with the Finanaal Rèporting Siandard applicable in the UK and Republic of Ireland IFRS 1Q121° {as amended for accounting peiiods commÉncing from 1 J8nu8ry 20161. The Charity is a Publ B@nefil Entity as defined by FRS 102. Thè Charily has taken Advantage C¢f the provisions in the SORP for charitie8 applying FRS 102 Update Bulletln 1 not lo prepare a Stalemenl of Cash Flows. The financial slalements have dèparted Iroim the Charities (Aectsunts and Reports) Regulations 2008 only to the extent required to provide 8 true and fair vlew. This departu has involvèd following the Statemènt of Recommended Practice lor charities applylng FRS 102 rather than thè ve¥sion of the Staièmenl of Recommènded Practi¢x whith is relerre(I lo in the Regulations bul which has since beèn withdrawn. The financial slalements are prepared in sleding, which is the functional currency of the Charily. Monetary amounls in Ihese financial staternenls are rounded to the nearesl £. The financial slalements have been prepared under the historical cost convention, rnodified lo include fixed asset investments at fair value. The principal aeMunling policies adopted are Sel out below. 1.2 Golng concem Al the Ilme of approving the financial slatsments. the Trustees have a rèasonable expectation that tho Charity has adequate resource5 to continue in operational eKislenc& lor the foreseeable future. Thus the Twstees continue to adopt the going concern b88is of accounting in preparing Ihe financial stal8monts. 1.3 Charitable fund8 Unféstrieted funds aro available for us& al the discretion of the Trustees in lurttterancè of their charitab objedives unless the funds have been designated lor other purp08e8. 1A Income Income is recogni98d when the Chority is legally antild to il after any performance conditions have been met, Ihe am()unts can be measured reliably, and il is probable that Income will be iecelved. Cash donations ar¢ recognised on receipt. Olhor donations are recognised once th8 Charity ha8 been notified of Ihe donation, unless performan conditions require deferr81 of the arnount. Income tax recoverable in relation lo don8tions reiVed under GiflAid or deeds of covenant is recognised al the lime of thè donation. Legacyes afe recognlsed on receipt or otherwise if IhB Charily has beeYE nobfied of an impending diglribution, thè amount is known. and receipt is expected. If the amount is not known, the legacy Is trealod as a ¢onlingent assel.
THE LYONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 A¢¢¢)untlng policles IContinu¢d) All gains and losses are taken to the sta1èmt of Finantyyal Activities as they arise, Rè81ised gain8 and bsses on invèstments are calculated As the difference beeen sales proceeds and their opening carrying value or their purchase value if 8couired subsequent to the first day of the financial year. Unreallsed gairts and losse are calculated as the differ$nce btheen th8 fair value al the year end and their caTrying value. Roalised alld unrealised inveslmenl gains and losses arè eombined in the Statement of Flnancial Activities. 1.$ Expendlture Rèsources expended are included in the Stalernenl of Financial Activities on an 8¢cruals basis, indusive of any VAT which cannot be recovered. They are re¢o9nised when thère is a legal or constructive obligation to pay lor exp8ndilure. Grants and donations payable arè charged to ihe Statement of Financlal Activities in Ihe period in which Ihey have been approved and comrnilled. Governance costs repiosent those costs associated with meebng Ihe constituilonal and statulory Tequiraments Df the charity. 1.6 Fixed a¥5et investments Fixed asset investments are inilially measUd at transaclion price exduding tran8aclion costs, and are sub8equenlly measured 31 fair value at trach reporting dalo. Changes in fair value are recognised In nel in¢omelleXpd1ture> for the year. Transaction costs are expensed as inGtJrred. 1.7 Cash and cash •qulvalents Cash and cash equivalents Include cash in hand, deposits hold at call with banks, olhgr short-term IlquSd investments with original rnalurities of thréè months or less, and bank overdraft5. Bank ovérdrafts are shown wilhtn borrowings in currenl Ilabililies. 1.8 Financlal Instrumonts Tho Qharity has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Se¢tk)n 12 'Olhèr Financial Instruments Issues, of FRS 10210 all of its financial in$trumenis. Financial instrument8 are recognised in the Charills balance sheet when Ihe Charfly becomes party to the contraclual provisions of the in81ium6nt. Basic financlal asséts Basie financial asse15, which include debtors and cash and bank bolanTrs, ale initially measured al transaction price iluding transaction costs ar)d arè subsequently carried at amorli8ed cost using the effective interest method unless the arrangement constilutes a financing transactiork, where the transaction i rneasurerl 81 the presenl valuè of the fulurfy reIp(S discountèd at a market rate ol interest. Financial asgets classrfied as receivable within one year 8te not amortlsed.
THE LYONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Aceountlng policle¥ IContlnLEedl Baslc financlal Ilablliti•$ Basic finanual liabilities, Including creditors and bank loans are initially recognised at transactlon pru unless Ihe arrangement constitutes a financing Iransaction, whe[8 the ¢Jebt instrumènt is rnea8ured al the present value of Ihe future payments discounted al a market rale of interest. Financial liabilities cl8$sified as p8yable wlthin one year are not amortised. Debt instruments are subsequently carriod al amotlised cost, using the effectivè interest rate me1hod. Trade creditors are obligalions lo pay for good8 OT 8etvices that have been acquired in the ordinary course of operations from suppliers, Amounts payable are classified as currenl liabilities if payment is due wtthin one y8ai or less. 11 not, they aro presented as non-current liabilities. Trade ¢reditor8 are recognised inilialty al transaction wice and subsequently mea8ur¢d al amortised co31 using the effective inleresl thOd. Dgr8cognltlon of finènelal Ilathllile3 Financial liabilities are derecognised when the Chority's contractual oblSgalions exiire or are discharged or cancelled. Investment Income Unre8trlctsd Unrestrict funds fund¥ 2023 2022 Income from lislod inveslmenls In18r8st receivable 52,t199 39 53,146 52,138 53,147
THE LYONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Ralsing furKI$ Unrestrlcted Unre$lri¢ted fund¥ funds 2023 2022 Inve$trn9nt managèment 20.163 22,051 20,163 22.051 charltsble activiliog Charitable Charitsbla actlvltles activltl•s 2023 2022 Grant fundlng of activities (see note 51 Governance costs (see nole 71 84,000 4,585 83,IK)O 4,543 88,585 87.543 Grants payable Charltable Charitable aetivitles activities 2023 2022 Grants to institutions- MIND Foodcycle Trussell Trust Alzheime$ Rese8r¢h Shelter The Refugee Coun(#l VersusArthrilis Sameyou Healthcare Workers Curwen Prinl Study Centre British Red Cr05S UNICEF SlreelSm8rt Macmillan Cancer Support 5,0(K) 5,000 5,000 10,000 5,000 5,000 10,000 3,000 3,000 3,000 7,500 7,500 5,000 10,QOD 5.000 5.000 5,000 10,000 5,000 5,000 10,000 s,000 3,000 7,500 7,500 5,000 10,000 84,000 83,000
THE LYONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Trust$ None of the Trustees lor any persons connected with Ihèml recewed any remuneration or benefils frLxn thè Charity during the year except as disclosed in note 14. Support and govgrnance costs Support Governancè costs ¢o$t$ 2023Support costs Governance costs 2022 Admini5tralion fees Accountancy and Independent ExaTninèrfs lees Bank Gharges Profil on foroign exchange 3,300 3,300 3,353 3,353 1,314 1,314 1,260 1,260 1311 1311 174) 1741 4,585 4,585 4,543 4,543 Analysed belween Charitable activities 4.585 4,585 4,543 4,543 Net 9aln$l{lossesl on Investmènts Unr¢$trl¢t¢d UnrestrÉetod lund$ fund8 2023 2022 Revaluation of invesiments (182,6351 143,533 Employee8 There ware employees during the yèar. 10 T•Kallon The charity is exempl from lax on income and g8ing falling within section 505 of the TaxesAct 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the exlenl Ihal Ihe8e are applied to 118 ¢h8ritable objects. 10-
THE LYONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 11 Fixed asBet invèstmènts Ll8t8d Investments Cost or valuatlon At 6April 2022 Addillons Valuation dng0S Disposals 2,385,864 237,787 1182,8351 1211,9661 At 5Ap¥il 2023 2.229,D50 Carrying amount Al 05 April 2023 2,229,(0 Al 05 April 2022 2.385,8e4 The historic cosl of the iNve81ments al 5 Aprll 2023 was £1,958,02012022.. £1,939.2491. 12 Cr4dltors: amounts falling due within one year 2023 2022 Accruals and deferred thKome 10,278 10,698 13 Analysls of net as$èts between funds Unrestil¢t*d Unrestri¢t•d funds funds 2023 2022 Fund balaneas at 5April 2023 are represented by.. Investmenis Currenl a5%1sllliabilitiesl 2,229.050 13.953 2,385,864 96,384 2.243,003 2.462.248
THE LYONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 14 Rglated party transactions Mr R E Wbrby, a Trustee, is also a directOT of Moore Northern Home Counlles Limited. Ouring the year the Charlly becamè liable lo pay sums to Moore Northern Home Counties Limited rèlating lo accountancy servKes of £3.300 {2022'. £3,353}. 12-