Charlty R•glstrallon No. 1066891
Company Registration No. 03462477 (England and Wales)
LORICA TRUST LIMITED
ILIMITED BY GUARANTEE)
TRUSTEES. REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
*AD1811R4*
1811212024
COMPANIES HOUSE
A13
#197

LORICA TRUST LIMITED
(LIMITED BY GUARANTEE
LEGAL AND ADMINISTRATIVE INFORMATION
Trnstses
R Hobson {Chainnanl
N Oungay
C Haywood
S Litt18iohns {appointed 15102124)
H Sayers
A Sharpe
Company S•¢ro1•ry
N Dungay
Charlty numbor
1066891
Company number
03462477
Reglstered office and prlnclpal address
East Clayton Fam, Storrington Road, Washington,
Pulborough, West Sussex, RH20 4AG
Independ•nt Ex4mlner•
TC Group, The Courtyard, Shoreharri Road,
Upper Beeding, Sleyning, West Sussex. BN44 3TN
Bankorn Iprlmary
CAF Bank. 25 Kings Hlll Avenue, Klngs Hill. Wesl Malling,
Kent, MW19 4TA
Barclays Bank plc, 13￿141 North Street, Brlghton. East
Sussex, BN1 1SF
Flagstone, 111 Floor, Clareville House, 26-27 Oxendon
Street, London, SW1Y 4EL
Sollcltors
Ipmn Mitchell. Thomas Eggar House, Friary Lane,
Chichester, West Sussex, P019 1UF
H3 Solictlors, 102k Place, Rosier Business Park
Coneyhursl Road, 8illingshurst, West Sussex. RH14 9DE

LORICA TRUST LIMITED
{LIMITED BY GUARANTEE
CONTENTS
Page
Trustees. report
Independent examiners, report
Statement of financial ath'vities
Balance sheet
Cashflow statement
Notes to the accounts
10-17

LORICA TRUST LIMITED
(LIMITED BY GUAIIANTEEI
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees (who a￿ also directors of the Charity for the purposes of the Companies Act) a￿ pleased to present
their annual trustees, report together with the financial slalements of the charity lor tho year lo 31 Mar¢h 2024 which
a￿ also prepared to meet the requlremenls for a dire¢tOfS' ￿Port and accounts for Companies Act PU￿05eS.
The financial stslemenls comply wrth the Charities Acl 2011. the Companies Act 2006, tho Memorandum and
Article5 of A580cialion. and Accounting and Reporting by Charities., Slalemgnl of Recommended Praclice
applicable to charities p￿paring their accounts in accordance with the Financial Reportin9 Slandafd applicable in
the UK and Republic of Ifeland IFRS 1021 (effeclive 1 January 20191.
Gov•ming Documont
Lorica Trust Limited is a Company Limited by Guarantee govemed by its Memorandum and Arttcles ofAsso¢ialion
dated 7 Novembe¥ 1997 and arnended lo allow for current governance arrangements by speaal resolution on 7
Novombor 1997. 27 Jun• 2003 and 26 Sepl•mber 2003. 11 1$ regi¥lered as o ¢harity with the Charity Commi88ion.
Anyone over the age 0118 can beGome a member of the Company, each of whom ogree lo contribute £10 in the
evenl of the charlty wlnding up.
Appolntm•nt of Tru8tse8
Trustees are recruited to fLtlfil identsfied slral•gic needs In th• organlsation 8nd the profile ol the or9ani$alion'
areas of interest and operation are refflected in the core competencies of individuals representad on the Board ol
Trustees. Trustees are nominated by Ihe members and appointed by the Iruslees.
At the Annual General Meeting one-third of the trustees are subject lo retirement by rotslion or, if Ih•ir numbar is
not three or 8 multiple of three, the number nearest lo one third shall rebffj from office.
Membership of the Board of Trustees is reviewed as part of the cyclical ¥tralegl¢ planning pro¢esJ.
Tru8t•e Inductlon and Tralnlng
New Iruslees undergo an orienlalion proc£ss lo brief them on Iheir legal obligations under charity and company
law. the conlenl of the Memoiandum and Article of Association. the committee and deosion-making process, th•
busin8s5 plan and recent finanGial performance of tho charity. During the induction process they meet key
employees and other Iwslees. Tfuslees are encouraged to attend exlemal Iralning events where these wbll focililate
the undertakin9 01 Iheir role.
Org•nl8•tlon
The Board of Trustees. the numbef of which shall be not less than three but shall not be subject lo any maximum,
administers the charity. The Board meel on average five time5 a yeai.
Dir•¢lors, Tru$ts•$, S•nior Offi¢•rs
The di￿¢101$ of the ¢harilable company Ilhe chanty) are its Iruslees for the Pu￿oSe of charity law and throughout
this report are collectively referred to as the Iruslees.
The Iruslees serving during the year and since the year 8nd ware as follows..
Elected Tru5198s
Mr Robin Q G Hobson-chaimia
Mr Nicholas A Dungay
Mr Charles Haywood
Mrs Juliet J Hindson {r8signed 1510112024)
Mrs Sophie E Litvejohns (appointed 1510212024)
Mr Howard L Sayers
MrAnd￿W W Sharpe

LORICA TRUST LIMITED
{UMITFD BY GUARANTEE)
TRUSTEES., REPORT
FOR THE YEAR ENDED 31 MARCH 2024
R•lated Portle•
None of our trustees receive remuneration.
Rl•k Management
Lorica works with a m'¢>Yel ol enterprise-wide rbsk management., all business activities incur risk and Lorica is no
different. Risk 1$ ￿ntral to the ¢onGgpI ol enterprise and thus all businesses have, lo a greater or le$$ef extent.
developed methods to anticipate and manage it. Lorica has on esiablished rlsk matrix. consolidating nsk reporting
with common definition and measur8$. thereby reducing the Chances of omissions, duplicabons and inappropriate
allocation ol scarce resourc4s.
This in tum has enabled the exocutNe and mana9em•nt lo focu$ on the most significant 168ues. Thi8 critic41
Inlormalion is. shared,throug.houl the organlsalion, r•ducing unw6lcom• surpiises and making business 8ucrAss
more likely, both oporalionally and strategically.
Backèround
The Lori¢a Trust was established wthen our Founder Father Alan Sharpe lèt ￿ people, homeless and hungry,
spend the nlghl in the church in the winter 011985, wllhin month8. Si Palrith's was provKling $hfrller for over 30
peoplo a nlghl.
Since ils foundation in 1985, the work of tho Trust has expanded lo support wder groups within the community
loueh6d by 80ci8l exclusion. The Trusl now focuses ils resources al E8sI Clayton Fami - this is a lam established
by the charity which provides accomm¢)datson for peopl• •nd lamlli•$ 8ffo¢ted by disabilities and homo18ssnoss as
well as land-base(I training opportunities.
As the work ofthe Trust expanded beyond tha work with the horneloss al St Palri¢k's Church in Hove, the Trusle•s
changed. the onginal name of the Sl Palrlck's Trust lo Loric8 Tru81 Limited - meaning 'broa$lplale'. This is a more
genoric name for the Trust. felle￿ing Ihe increased braadlh of our wort.
OurVl8lon
To inspire, restore, educate and refresh.
Mimion
To achitvo our charitable objecllves wllh creatlvlty and InnovatSon embracing sITong Chrlsban values.
Our Objects
To provide and promot• th• provision of ac¢ommod8lion. 8halt8f and housing.
To provKle any anullary fac41itie$; food. dothing. physical. mental. educational, and spiritual Ca￿ and
supporL
To provide for peopl8 who through ag•, physical or mental illness. youth, alcohol or drug addiction or
dependen¢y, andlor poverty are unable lo make adequate provision for Ihems8lv•s.
To Prov￿e and encourage the provision of facilities for medical ￿habilItation and treaiment. spiritual help,
guidance and education and training.
Publi¢ b•h•fit
In determining our objectives for the year and planning our activiti•5 the trustees have considered the Charity
Commission's guidance on public benefit, including the guidance 'public b8nefil-running a ¢harity {PB2}'.

LORICA TRUST LIMITED
(LIMITED BY GUARANTEE)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Board has had regard to the Iwo key principles regarding public benefit in making declsions as lo the servitss
provNled as detailed in thi$ report. There has been a clearly idenlffiable benefit which is related to the charity's
oblects. and those hav• been bal•n¢4d a94in$l ony delriment or ham.
The beneficiaiies have been appropriate to the aims and the benefit has not been restricted by geographical,
cuniary reslriclions or poverty and any privat• benefits hove b?en incidental.
ents
nG8 20231
At East Clayton Farm our focus over the past yoar h8$ been to enhonce the rang8 of lami*ased opportunib'es we
could provide- thi5 has focussed on the need lo provKle Leaming and Development opportunities for both Trsidenls
and visiting groups.
Thare ar8 4 main areas in which we are Involved..
The biggest area of expansion continues to be with children al risk of exclusion from school and il is very
encouraging how the provision al the fam) has helped benefit this group. The numbers of children visitiNJ
th¢ farm has ¢onlinued lo increase over the year and we have expanded the range of adivilio$ with the
further development of the garden and other outdoor activits'es in alternative locations. To underpin our
provi5i0n, we are a registered Leaming and Development Centre with the Skills and Educabon Group
{SEGI, in order lo offer Entry Level, Level 1 and Lev¢1 2 land-based qualifKalions.' we arn also registered
with Wesl Sussex County Councll as providers of Alleinalive Provision.
We are keen lo exploro rural provision for those isolated within our Ioc81 cemmunity or living wilh dementia.
W8 contlnu8 lo partner with olher local & national charities lo consider social prescribing arKI olhar
allemalives lo assist with this growing area of need, We are h¢Jpeful that our Learning and Dgvelopmenl
C•nirt and its faGilits•¥ will holp anabl• this provision.
We are working with Tuming Tides {previou$ly Worthing Churches Homeless Project) to expand our work
with residents and non-residents recovenng from homelessness. The challenge of rural hcffiele$snesS 18
of particular concgrn. and we have been Involvèd in prov￿Ing resources lo assist in this area. The resKlenls
are an integral part of the fami, and they have become more involved over the year in every aspgct offam
Our work with disabled young adults has been ongoin9 visits from residents and non-residents lo
ulilise the facilities ol the lami.
Th• increas8d numkr of daily visits lo undertake fami activities has only been possible because of our Leamlng
and Devglopmenl Centre with ils washing and disabled ac¢e$$ toilet facililies for fami visitors.
We continue to ba very thankful and amazingly grateful for tho Support we had from many funders which allowed
us lo build our Learning and Development Cent￿. The fa¢ili*'e8 are being used daily and we remain excited about
the possibilities for enhancin9 our piovision lo the various groups who visit and live at the fam.
During the year we have been able lo undertake 8 wide range of outreach a¢livilies. Our donkeys have mado
appoarances al many diffe￿nt events. Christmas and Easter have been special occasions where Ih•y have been
able to enhan￿ many church worship Sery1￿s. Our sheep have also attended VaTi¢U$ agricultural shows. and we
are very happy lo report that our sludenl's input hos meant Ihal we hava won prizes in various competitions.
We have been able lo welcome an increasing number ol visitors lo walk donkeys al the fami and enjoy Inleractsng
with them and our very speaal landscape.
The year has again seen increased use of the lam lor so¢ial benelil,. our CEO has perfomied sterling work in
ensuring that this has been possible, and we have been very appreciative ol our staff and volunteer team who have
helped with the increased workload over this period.
Our volunteers are an essential part of the farn and are involved in all aspects of farm operation. assisting in estate
and livestock management as well as working with visiting groups.

LORICA TRUST LIMITED
(UMITED BY GUARANTEE)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
We are very gratefijl for the input made by many volunteers over the year and the number of people. and the scope
of their involvement continues lo develop and grow.
Flnan'c
The Trus¢s total income has increased from £641.035 in 2023 10 £856.601 in 2024 whi¢h reflects the increase in
school's provision following on Irom Iho completion of the Leoming and Development Cenlre. This increase in
inccme has be8n accompanied by 8 commensurate increase in expenditure from £590,482 in 2023 10 £758,398 In
2024. This increase in expenditure reflects further higher building maintenance cA)sts incuried and the additsonal
resources required for the increased provision for children al risk of exclusion from school.
The overall financial affect of the thangei mada In thè year 2023124 has be•n to r•cord a 8urplu$ of £98.203
compared with £50,553 in 2023.
Th8 Trust's tangible fixed 8838ts ha￿ increased from £1,946.533 in 2023 to £1,999,747 in 2024, whilst tho Tru8f$
nat assets have increased from £2,499,016 in 2023 10 £2.597,219 in 2024, Overall, il h43 been a vary •ncour89ing
year with our new resources being used lo very good effect in helping inuease the benefil lo those il is our privilege
lo welrA>me to the fami.
Tho Trust'¥ l•vel of rn$lrictod rn8orvei 18 £604,255 carried I0￿8rd into 2024125. Detalls ol theso funds are Bel out
In Note 14 of the accounts.
The financial consoiidalion mad8 in the year continues to help 8lTrnglhon the charity structure lo enable the
continuing provi8lon and devalopm8nl of ox18ting and new servlces to those il was Sel up to help.
Over the coming year the aim is lo continue lo use the facilitie$ al East Clayton Fami lo widen the number of people
who can benefit from the fam. The mission of Lorica has been lo achieve ils charitable objectives with creativity
and innovation embracing strong Chnstian values.. the changes made between 2023124 ¢onlinue Ihlsjoumey which
818rtoé In the winler 011985.
Finan
ial Policies
Investment Po￿￿ and Pollcy
Under the M6morandum and Articles of Associab'on, the Charity has the power to invesl in any way the Iruslees
dead•.
The tru51e8s, having regard lo th8 liquidity raquirernonts of operational octivities and to the reserve5 policy have
operated a policy of keeping funds in interest bearing deposit accounis and seek lo achieve a rale of dep051t which
matches or exceeds inllalion as measured by the retail price index. Due lo wider economi¢ ¢ir¢umslances deposit
ral85 have improved, although this was matched by an incfease in inflation, and so il was possible lo partially
ach￿ry￿ this aim in the year.
Re8erv•8 Policy
The trusteas have established the level of reseples Ithal is those funds that are Ireely available) that the charity
OU9hl lo have. Reserves a￿ needed to bridge the funding gaps bets¥een spending on production and events and
receiving resources through grants that provide funding. Reserves are also hehj lo cover possible emergency
repairs and other unexpected costs. The Iruslees have examined the Charity's requirements for reserves in the Iwht
of the main risks to the or9anisation. 11 has established a policy whereby the unrestricted funds not committed or
invested in tangible fixed assets held by the charity should be behveen three and six months of fvIU￿ expenditure.
Therefore. the Iruslees consider that the ideal level offre8 reserves should bé be￿een £150k and £200k and action
will ¢onlinue lo be taken lo improve reserves over the nexl year as the Charity continues lo increase ils aclivilies.
Free ￿seNeS stood al £547,123 al the 2024 balance sheet dale. which includes £370,000 Sel aside for 8radbury
Court costs (2023.. £482.134 which included £350.000 sel aside for Bradbury Court costs}.

LORICA TRUST LIMITED
IUMITED BY GUARANTEE)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Going Cancern
The trustees considered budgets, projections, cash flow 51aiemenls and balancé 8h••l at their meeting lo approve
the annual accounts and G¥Jn3ider Ihal the ¢ha(ity is able to continue as a going concern for a period of no less than
12 months from the date the ae£ounls are appfoved and that no Post Balance She61 Adjustments are required.
st•e
onslbllltlès In
latlon
th• financial 8tst•ments
The trustees, who are also the directors of Lori¢a Trust Limil•d for the purpo$e$ of company law. are respon8ible
lor preparing the TNslees' Report and the finanaal statements in accordance with applicable law and United
Klngdom Ar£ounting Standards (United Kingdom Generally Aec&pted AcL*unting Practice).
Company law requires the trustees lo prepare financial statements lor each financial year which give a true and
fair view of the slate of affairs of the charity and of the incoming resources and applicalion of ￿$0Y￿e8. induding
the income and expenditure, of the charitable company lor thal year.
In preparing these financial slalements, the trustees are required to..
Select suitable accounting pelicies and then apply them consislanlly.,
Observe the methods and principles in the Charites SORP.,
Make jud9ments and estsrnal•s that are reasonable and prudenl..
Slate whether applicable UK arxounling $landards have been lollowed. subject lo any material departures
¢Ji$dosed and explained in Ihe finanaal slalements,. and
Prepare the financial slalomenl$ on the going ¢onc*m basi$ unleu1118 Inappropriate to presume that th•
¢harity will ¢onts'nu8 in operation.
The trusl•es afe responsible for maintaining propar accountin9 rncords which disclose with feasonabl• ac¢ura¢y
al any lime the financi81 posibon of the charity and enable them lo ensLtre that the financlal slalements comply with
the Company Act 2W6, The Iruslees are also r•$ponsible for safeguarding the assets of the charity and hence for
taking fea$onabl6 stèps for thè pr8v•nllon and detection of lrnud and other irr•gulanli•s.
This report has been prepared in a¢¢ordance with the special provisions of Part 15 01 thè Companies Acl 2006
felallng lo small companies.
Approved by the board on..
Signed on behalf of the board
Robin Hobson- Chalrman

LORICA TRUST LIMITED
{LIMITED BY GUARANTEEI
INDEPENDENT EXAMINER'S REPORT
TQ THE TRUSTEES OF LORICA TRUST LIMITED
I report to the charity trustees on my examination of the accounts of the Charitable Company for the year anded
31 March 2024,.
Regponslbllltles and ba818 of rnport
As th¢ ¢harity.'s INsteo$ of Ihe Charitable Company {ond also ils directors for the purposes of ￿rnPany lawl you
a￿ responsible for the preparation of the acLounts in accordance with the requiiements of the Cornpanies AGI
20061'lhe 2006 ACVI.
Havin9 sab'sfted myseff that the accounts of the Charlt8bl• Compony are nol rnquired to be audited under Part
16 of the 2006 Act and are eligible for Independent examination, I report in re5PeCt ol my examination of your
charity's aeKounts as carried out under seclion 145 of the Charities Act 2011 ('the 2011 ACVI. In carrying out my
eX8minaknon I have followed the Directions given by the Charity Commission under secb'on 14515) Ibl ofthe 2011
Act.
Indep•nd¢nt'oxamln•r'• 8tatsm•nt
Since the charitable company's gross income exceeded £250.000 your examiner musl be a member of a body
listed in ￿ctIon 145 of the 2011 Act. I confim that l am qualified lo undertake the examination because l am
member of the Associallon of Chartored Cerb'fied A¢¢ountanl8, whlch is one of the listed bodies.
I have ¢(*npleted my examination. I confimi that no matter5 have come to my attention in connection wilh the
axaminalion givin9 me cause lo believe..
accounting records ￿re nol kept in respe¢l ol the Charltable Company as requlrfjd by s•ctlon 386 of
the 2006 Acl." or
2. the accounts do not accord with those records: or
3. the accounts do not comply with the a¢¢ounbng requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'lnJe and fair view which is not a matter ¢onsvJered 0$ part of
an independent examination., or
4. the accounts have not been prepared in ¥c¢ordancè with the method$ and principle5 of thè Slalement
of Re¢ommended Practic* lor accounting and reporting by charities.
I have no concerns and have come across no other matter5 in connection wilh the examination lo which attention
should be drawn in this report in order lo enabl¢ a proper under81anding of the accounts lo be reached.
Mr Mark Cummlns FCCA FCIE
for and on behalf ol
TC Group
The Coutyard
Shoreham Road
Upper Beeding
Sleyning
Wesl Sussex
BN44 3TN
Daled..

LORICA TRUST LIMITED
{UMITED BY GUARANTEEI
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrnstrlcted
funds
Do•lgnat•d R•8trict•d
fund8
funds
Totsl
2024
Total
2023
Notes
Incom• from:
Donatr'ons and legaaes
18.348
18,348
8.999
Ch8ri1oble actiwtigs
East Clayton Fami
Housing rental
755.949
2,400
20.000
49AOO
125.349
2,400
627.964
2,350
Invastment inc4)me- interest received
10,$04
10,$04
1,722
Total Income
787.201
20.000
49800
856,601
641.035
Exp•ndllur• on:
Charitable activilios
708.398
50,000
758,398
590,482
Total •xpondlturn
708,398
50,000
7S8,39J
590,482
Net Income
78.803
20,000
1600)
98,203
50,553
Transfers betrween funds
14
19.400
119,400)
N•t mov•m•nt In fund•
98,203
20,000
120,0001
98,203
SO,S53
RKon¢ilialion of fvnd•
Total fund$ brought forward
1,524,761
350,000
624,255 2,499,016 2,448,463
Tolal funds cairlfrd forward
16
1,622,964
370,000
604.2SS 2.597.219 2.499,018
Tho Slalemenl ol Financial Activities also ¢omplies with the requirements for an income and expenditure ac￿Unt
under the Companies Act 2006. All activities are classed as continuing.
The￿ ao no ￿Cognised gains or losses other than Ih¢yJe reported on the Statement of Financial Activities.

LORICA TRUST LIMITED
{UMITED BY GUARANTEE)
BALANCE SHEET
AS AT31 MARCH 2024
2024
2023
Not
Flxed ag$fyts
Tangible assets
11
1,999,747
1,946.533
Current a88•ts
D•blor$
Cash al bank and in hand
12
104,697
528.531
71,912
502,483
833,228
574.395
CredltOf8: amounts l•11Sng du•
wlthln ono y••r
13
135,756)
(21,912)
Not currfrnl ai8•ts
597N72
SS2,483
Total a88ets le•8 current1Sabilitie8
2,597,219
2,499,016
Net assets
2,597,219
2,499.016
Tho lund• of th• chirlty
Restricted lunds
Desi9nated lunds
un￿strICted funds
14
15
16
604.255
370.000
1,622,964
624,255
350,0
1,524,761
Tiotal fund•
2,597,219
2.499,016
For the financial year in question the company was entilled to exemption undèr sKtion 477 of the Companies
Acl 2006 relating lo small eomp8nle8.
No membets have requlr&d th6 company lo obtain an audit of its accounts for the year in question in a¢wrdance
with secbon 476 of the Companies Act 20C6.
The director8 ad(nowledge their responsibility lor complylng with the Act with resp8ct to accounting records and
lor the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the
Companies Act 2006 relating lo small wnpanie$ and constitute the annual financial stalements required by the
Compani9¥ Act 2006 and aT8 for circul8b.on to members of tha company.
Tho a¢¢ounts were approved by the Board on 11 A 17 IY
R Hobson - Trust•0 Ichalrfflanl
Company Registration No. 03462477
Charity R•gi$tr•ti¢n No. 1066891

LORICA TRUST LIMITED
(UMITED BY GUARANTEE)
CASHFLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Not•
Cash flow• from oporatlng actlvllle8
18
98.083
67,796
Cash Ilow• from Inv••ting actlvitl••
Payments lo acquire langible fixed assets
11
{82,5391
10,604
Inv&stm•nl In¢om•
1,722
Net cash In Invo8tlng ¥ctlvltl•s
(72,035)
1,722
In¢r•a80 in ¢a8h
26.048
69,518
C08h •nd ¢•$h •quival•nts •t 8tsrt of y•ar
502.483
432,965
Cash •nd ¢•sh •quivalonts •t •nd of y•ar
528,531
502,483
All cash is cash al bank and in hand.

LORICA TRUST LIMITED
(UMITED BY GUARANTEEI.
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
L•gal Status of charltsble comp8Dy
Lorica Trust is a charitable company, limited by guarantee, registe￿d in England and Wales. The charitable
Company's registered number and registered office addres5 Can be found in Ihe Iruslee$' report.
In the event of the tharity being wound up, the liability in r¢sp¢cl of the guarantee is limited to £10 por
member of the charity.
Accounllng pollcl••
Ba$1• of prnparatlon
The ac£oLtnls havo boon pmpored in 8¢¢ord•nuJ with Axounling ond Reportlng by Charities.. Slalemonl of
Recommended Practice applicable to tharilies preparing their 8¢counts in a¢cordan¢e with the Financial
Reporting Standard applicable in the UK and Republic of I￿lartd IFRS 102) (effective 1 January 2019) -
(Charities SORP IFRS 1021). and thé Companies Act 2006
Lorica Trust meets the definition of a public benefit entSty under FRS 102. Assets and liabilbties are initially
recognised al historical c05t or transaction value unless otherwise slated in the relevant accounting policy
nolel¥l. There are no material Un￿rtaIntleS about Lor¢ca Trust's ability to continue as a 90ing concem.
The financlal statements are prepared in slèrfing, which is the lunclional currency of the charitable
company. Monetary amounts in these financial statements are rounded lo the nearest pound.
2.2 Incom•
t)onalions and other fomis of voluntary income are recognised as incoming resources when recAivable.
ex¢epl insofar as they are incapable of financial measurement.
Charitablo actlvilles- represent in¢om6 from rent and arè recognised when rac8ivabl•.
Investrnenl income is accounted for when receivable.
2.3 Ex￿ndItur•
Expenditure is accounted for on an accrnals basis with th& irrecovarable element of VAT induded with th6
item of oxp8n80 lo whl¢h il relates.
Charitable expenditure comprises those costs in¢urred by the tharity in the delNery of 11$ activlllos and
services for ils b8neficianes.
Govemance costs include those costs assoclaled with meeting the constslutional and statutory requ1￿MentS
of the tharity and include independent examination fees and costs linked lo the strategic management ol
the charity. These are induded as support costs.
All ￿$15 8r8 allocated belwe¢n expenditu￿ categories ol the SOFA on a basis designed lo reflect the use
of the ￿SOUrce. Costs ￿lating lo a particular activity are allocated direcvy. Othe￿ are apportioned based on
estimated usage as a proportion of directly attributable exp8ndilurg.
io

LORICA TRUST LIMITED
IUMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14 Tangible fixed assets and deprecSatlon
Tangible fixod assets are capitalised at cost and depreciated over their e$timaled useful e¢onomi¢life on
slrai9hl line basis as follows..
Motor vehi¢le$
Plant & Machlnery
Computer equipment
Leasehold improvements
25%
25%
33%
over the remainder of the lease
The Trustees have agroed that item8 costing £10.000 and above 8re considered for capilalrdalion.
2.5 Fund a¢¢ounting
Funds held by the chanty are either..
Unrestricted general fvnd8 - these are lunds which are available for use at tho discmlion of the tfuslo•$
In furtherance of the general obje¢tives ol tha charity and which have not been designated for other
purposes.
Designated funds- these are unrestricted funds set aside by InJstees for a specific purpose.
Ro81rlcted lund8 - these ar6 lunds which arn to be used In accordance with specific re8tsicb.ons imposed
by donors which have been raised by the charity lor particular purposes. The ¢osl of raising and
administering such funds are Charged against the spe¢ifi¢ fund. The aim and use of each restricted fund
18 8el out in Ihe notes lo the financial statements,
2.6 O•btor•
Trade and other debtors are recognised al the settlement amount due after 8ny trade discount offered.
Prgpayrnents are valued al the amount prepaid nel of any trade discounts due.
2.7 Cash at bank and in hand
Cash al bank and In hand includes cash and Short 18m highly liquid Invesbr8nt8. The trustee8 Seek to
use short temi deposits to maximise the retum on monies held al the bank and lo manage cash flow.
2.8 Crndltots and provlslons
Creditors and provisions are recognised where the charity h•s present oblig•lion resulting from 8 post
evenl that will probabty result in a transfer of funds lo a third party and the amount due lo selle the
obligation can be meaSU￿d or estimated reliably.
2.9 Estimatss and judgemonts
In the applicatson of th8 charity's accounting poliaes, the trustees are requirnd to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources, The estimates and associated ossumptior4s are based on historical experienco and
other factors that are considered lo be relevant. Actual results may differ from these estimates.
Tho o$limales and underfying •ssumpts'on$ ale revi8wed on an ongoing basis. Revisions lo accounllng
ests'males are re¢ognised in tho period in which the estimate is revlsed.
The truslees do not consider that there are any critical estimates or areas of judgement that need to bo
brought to the attention of the readers of the financial slatemenls.
li

LORICA TRUST LIMITED
(LIMITEO 8Y GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Trusle• r•munoratlon
I Iruslees donate their lime spent runnlng th• charity on a voluntary basis and do not ro¢•lv• any
remuneration for their work.
T•x•tion
The charilabla company is registe￿ as a tharity and all of its income lalls wthin the exempJons under
Part 11 of the Corporation Tax A¢t 2010.
N•t In¢omelloxpondltur•) lor th• y•ar
This is staled after tharging..
2024
2023
Oepredation
Independenl Examination fees
29,325
2,520
30,148
2,250
Comparnllv• Fund•- Slat•m?nt ol Flnanclal ActSvltl•• for th• Y•ar EDd•d 31 M•r¢h 1023
Unrestricted Designated Reslricled
funds
funds
funds
Totsl
2023
In¢om¢ from:
Donations and legacies
8.999
8,999
Gharil8bl8 activities
East Clayton Farm
Housin9 rental
627,964
2.350
627,964
2.350
Investmnt incoma - Interest re¢eiv¢d
1.722
1.722
Total Incom•
641.035
641,035
Expendlture on:
Chantable aclivil¢es
552.482
38,000
590,482
Total 0x￿nd[turn
552.482
38,aoo
590,482
Net Income
88.553
138.0001
SO,S53
Transf•r• b•twoen funds
1100.0001
100.000
Not Move￿nt In fund8
111,447)
100,000
138.0001
50,553
R•conclllallon of fund8
Total funds brou9hl forward
1.536,208
250.000
662,255 2,448.463
Total funds carried forward
1,524,761
350,000
624,255
2,499,016
12

LORICA TRUST LIMITED
(LIMITED BY GVARANTEEI
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Incom• from donations
Unrostrictsd D•signated Re¥trlcfed
funds
funds
fund•
Total
2024
Total
2023
Don•tions and hgaci•s
OonatsL)nS
Grft aid
17.098
1,250
17.098
1,250
Totsl donaOon• and legacle•
18,348
18,341
Incom• from charllabl• actlvllt••
Unfe•trlctsd O••ign•t•d R•8trieted
fund8
lunds
fund8
Totsl
2024
Total
2023
Ch4ril•bl• •¢tivltl••
East clayton fam) income
Housing rental
Grant incom•
755,949
2.400
20.000
775,949
2.400
49,400
623,745
2,350
4,219
49.400
Tol•l ¢harltsbl• actl¥ltl8•
7S8.349
20.000
49.400
827,749
630,314
Exp•ndltur•
Staff OepreCIa￿OTr
co*t8
Other
Total
Total
coit8
2024
2023
CharStabl• actl¥ltl•8
Fami Project
Rural Apprenticeship
Support costs
344.757
25,575
3,750
349.902
31,894
2,520
720,234
35,644
2,520
550,462
37,770
2.250
Tot•1 •xp•ndltur•
344,767
29,326
384,316
758,398
590,482
Support co$16 compri80 independent examinern f¢•$ of £2.520 (2023.. £2.250}.
13

LORICA TRUST LIMITED
IUMITED BY GUARANTEEI
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10 Staff costs
The aggregate. payroll costs lor the year were as lollows..
2024
2023
Wages and salaries
Social security costs
Pension costs
322,654
16,977
5,126
251,141
13,375
3.629
344.757
268,145
No employee6 eamt in excess of £60,000 in the current or prior year.
None of the Trustees reCeI￿d any remuneration from the charity.
There wo• an aveiag8 of 24 èmployees in the year 19 31 March 2024 {2023: 18).
The key management personnel of the Charity comprised the Alternative Provision Management Team. The
total employee benelits of the key management personnel wera £93.68312023'. £90.240).
11 Tan9lbl• flx•d 48•0ts
Plani &
L•a8ehold
Equlpment Improvemgnts
Motor
vehicl••
Total
Cost
Al 1 April 2023
Addition
76,529
2.178,588
39,681
21.000
42,878
2,276,117
82,539
As at 31 March 2024
76,529
2.218,249
63,878
2,358,656
Dopreclatlon
Al 1 April 2023
Charge fof the year
75,221
654
237,113
23.513
17,250
5,158
329.584
29,326
At 31 March 2024
75,875
260,626
22,408
358,909
Net book valu•
At 31 Mar¢h 2024
654
1,957,623
41,470
1,999.747
At 31 March 2023
1,308
1.941,475
3.750
1,946,533
A charge dated 20 October 2010 bs held over the leasehold property by the Silver Lady Fund in relation lo
some funding rec4ived by the Gharity (see note 14).
14

LORICA TRUST LIMITED
IUMITeD BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
12 D•btor8
2024
2023
Trade debtors
Other debtors and p(epayments
100,443
4,254
69,548
2,364
104.697
71,912
13 Cr•ditors: amounts falling du• within on• year
2024
2023
Trade credilord
Ac¢Nal$
Other crèditors
18,308
11.586
5.862
12,189
3.099
6.624
35.756
21,912
14 R•8trlct•d lund•
The income funds of the chanty indude restricted funds comprising the following unexpended balances of
donations and gronts held on trust for 8pecifi¢ pu￿09￿$..
Movement in funds
Balanco
Incomlng R•8ourc•8
Tran8ler8
at 1 Aprll v•oource8
expondfjd
betwegn
2023
funds
Balanc• al
31 Mar¢h
2024
Wesl Sussex County Council
Silver Lady Fund
East Clayton Farm Phase 2
The Improved Access Fund
Tudor Trust
Minibu5
160,000
393,906
50,349
20,000
160,000
393.906
50,349
(20.0001
{30.000}
30.￿0
19.400
{19.4001
624,255
49,400
(SO,0001 119,400)
604,25S
The transfer of funds above represents grant funds that were reslricled for usg lo assist in the purchase of
a now minibus. The new minibus was bought in the year and the fvnd5 Wgre transferred upon capitalisalion
of Ihe asset.
The West Sussex County Council IWSCC) fund represents costs spent on the sha￿d ownership housirKJ
al East Claylon Farm. If the fam is closed within the following 15 years, WSCC would expect a pro rata
relum on the £160.000 adjusted for inflation.
Silvtr Lady Fund rèpresents costs spent on the RAS accomm¢)dalion for the RAS proied al Eastclayton
Farm. The income is reslncled to the satisfactory completion ol the project and would potent￿allY need lo be
repaid if either the project did not go ahead or was slopped al any lime.
15

LORICA TRUST LIMITED
(LIMITED BY GUARANTEEI
NO.TES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1.4
Restrlrted lunds (contlnued)
The East aayton Fami Phase 2 fund relates to funds received toward various capitsl projects at E8St Clayton
Farm.
The Improved Access Fund relates to the cost of 8 v&hlclo to Iran8POrt donkeys supportlng vulnarabl8 young
people and exlemal Mmmunily events.
Tudor Trust relates to funds recewed lo contfibule l¢Mards the Costs of the salaries for the Aliemalive
Provislon Team,
Minibus relates lo fvnds received from Horsham District Council towards the cost ol # new mini bus to
transport young people (Allemalive Provision).
D•8lgn•t•d lundj
Mov•ment In fund•
8•l•n¢•
In¢omlng R080urce8
Transfor•
•t 1 Aprll re•oure•8
•xpend•d
b•tw•en
2023
lund•
Balan¢• at
31 March
2024
. Bradbury Court Costs
350.000
20,000
370,000
3SO,000
20,000
370,000
The IN$tee$ have designated funds towards future costs associalad with Bradbury Court. in line with their
serves policy.
16

LORICA TRUST LIMITED
IUMITED 8Y GUARANTEE
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16 Anal￿18 ol n•t a8Ut• b•tw••n lund•
D08ignatod
fund•
Unrnstricled
funds
R••tr•ct•d
funds
Total
Fund balances at 31 March 2024 ar8 represented by..
Tangible fixed assets
Current assets
Creditors,. amounts falling due
within one year
1,445,841
212,879
135.7561
553,906
50,349
1,999,747
633,228
135,7561
370.000
370,000
1,622,964
604,255
2,597,219
Do8Sgnat•d
fvnd8
Unro8tri¢l¢d
fund8
R•stri¢tsd
fvnd•
Totsl
Fund balancés at 31 March 2023 aro represented by..
Tangible lixed assets
Current assets
Creditor8', amounts falling du•
within one year
1,392,827
154.046
{21,912)
553,906
70.349
1,946,533
574,395
121,9121
350.000
350,000
1,524,761
624,255
2,499,018
17 Control
Tho charity18 under the control ol the Trujlees.
18 Ca•hllow from opefattng actlvftl
2024
2023
Surplus for the year
Inveslmenl income
D8precialion
Increase in deblors
Increasel{decrease) in creditors
98.203
110.504
29.325
132,785
13,844
50,553
11.7221
30,148
(1,7891
(9.3941
Nat cashflow from operating adivities
98,083
67,796
19 Relatsd party tran8actlon8
During the year trustees were reimbursed exp8nses for insurance and olh8r larm project costs
tolalling £4,59012023'. £nill.
17