Leeds Bulldlng Society Charitable Foundatlon IA eompany Ilmlted by guarantee) Trustses, Annual Report and Flnancial Statemènts Year ended 31 December 2021 Registered Charity Numb8r. 1074429 Registered Company Number.. 03724612 Leeds Bulldlng Soclety Charitable Foundation Trustoès, Annual Report and Flnan¢lal Statements 31 December 2021 Referencè and admlnlstiatlve Informatlon Registered Company Nurnber." 03724612 R￿IStered Charity Number.. 1074429 Truste85 Gary Helherington Carla Maishall David Marsh1185igned 6 Janu8ry 20221 Deborah Walker Iresigned 30 June 20211 Timothy Slee Gary Brook Iresigned 10 March 20211 Harry Carr18ppointed 8 S8p18rnber 2021 and resigned 21 July 20221 Nigel Turner lappointed 8 September 2021 and resigned 29 June 20221 Susan Moreland lappoinled 29 March 20221 Ernm£ Woods-Bolger (appointed 29 March 20221 All Trustees are Dir￿tOrS of the Charitable Foundation. Secmtary lrnogen Graham lappoinled 23 Nov6mb8r 20211 Rachel Cooke Ir851gned 2 Septemb81 20211 Bankgrs Leeds Building so￿ety 26 Sovereign Str881 Lee(Is LS1 48J Auditor Deloitte LLP statutory Auditor 1 City Square Leeds LSI 2AL ReyS$terèd office 26 Sover8ign Street Leed5 LS14BJ Letrds Bulldlng So¢lg¢y Charltablo Foundotlon Tru8teos' Annual Rèport and Flnan¢lal Statements 31 December 2021 Trustees, Annual Report and Dlre¢tors' Report The Trustees, who ar8 also th8 Directors ol the Charitable Foundation for the purpose of company law, pres8nt their Annual Report together with the Audi18d Finaneial Statements for the y8ar ended 31 De￿mber 2021. The Finanual Statements cornply with the Charities Act 2011, the Companies Act 2006 and Statement ol Recommended Practice Aceounts"ng and Reporting by Chaiilies ISORP 2019 applicable to charities preparing th81r accounts in a¢¢ordance with th8 Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Foundation qualifies as a sma11 company in accordance with $382131 of the Companies Act 20[￿ 8nd this report has been prepared in accordance with the provisions app11cable to companies entiued to the small companles. exemption, whleh includes an exemption from preparing a Strategic R8POrt. Structure, Governance and Management Gov&rning Document Leeds Building Souety Charitsble Foundats"on I'the Foundation") is a company limited by guarantee, incorporated on 26 February 1999. The Foundation was establish8d under a Memorandum and Articles of Association which established the objeds and powers ol the Foundation. It was established, pursuant to a Framework Agreernent belwe8n the Foundation and Leeds Building Society I'the Soc4ety"l. The Society is considered to be the Charitable Foundation's only related paty as il is Gotnplementary to and supportive ol the Charitable Foundation's objectives. Appointment of Trusle8S The Articles ol Association provid8 that th& number ol Trusteas shall be not more than 8ighL and no more than thr88 may be Dir8Ctors, officers or employees of the Society. Any such 8ppoinlment is made by notice in wiitlng signed on behalf ol the Soci8ly and takes effect wh8n th8 notits is lodged at the office ol the Foundation or produced at any meeting ol the Board ol Trustees. Each of the remaining Trustees, who must not be connected to the Sociely, may b8 propo88d by the other Trustees and appointed by ￿$01￿110Th passed al a meeting ol the Board subject to approval by the Society. Th8 Trustee5 are the Directors of th8 Charltable Foundation. There is no formal Trustee training programme in place." however. all of the Trustee5 have experien￿ of working with or within charitable organisatlOll5. One or MO￿ of the Trust88s and Secrelary att8nd th8 rneetings ol the Yorkshir8 Grant Mak8rs' Forum and feedback any current matters to the other Tru5tee5 wa the Trustee rn88tings. The Trustees dhy not re(*lve any remuneration or any other benefits IrcTh the Foundation during Ihe current or prior year. Org8nffS8tion81 Sfruoture The Board of Tiustee5 administers the Foundation. To facilitate effective operations the Trust888 have delegaied authorty. within terms ol d818gation approved by th8 Trustees, for operational matt8rs to the Company Secretary. Risk Management The Tru$t888 havè examined the major strategic business and operational risks which the Foundation fa￿ and confirm that processe5 have been established to enab￿ the necessary steps to be taken to reduce th8 Impact ol th88è risks. The key risks ar8 th8 financial risk of misappioprialion ol fund$. th8 operational risk ol inappropriate donatlOn5 being made and the reputational risk ol donabons being made to a charily that does not meet the ¢rit8ria. The Trustees monitor these risks closely 8nd consider the controls in place to mitigate the risks to be appropriate. Following detailed due diligenee pr0￿dUreS, the Tiuslees ￿vieW all applications and confirm that they are compliant with the Charitable Foundation's criteria. The Trustees th8n approve the payment of chaiit8ble donations depgnding on the slr8ngth of the application and how c105eSy it aligns to the Foundation's purwse.. to support those who a disadvantaged or in vulnerable urcumslances. G￿ng Goncem The activities of the Charitable Foundation are dependent upon th8 future level ol funding 18C8ived. The Charitable Foundation will r8CeiV8 an I￿¢￿aSe in funding frotn 2022 onwards. Leed5 Building So¢iety has cixnrnitted to an annual donation of £300,000 frotn 2023. This donation has been pro-rated foi 2022 to £186,868. Despi18 the economi¢ uncertainty r8sults.ng from the COVID-19 pa￿demiC. the Charitabl& Foundatlon has maintain8d a consistent level of income when compared to the previous two financial years. AGM funding 1£3,0001 and Annual Leeds Building Soci&ly donation 1£90,0001 were both ￿￿1Ved by the Foundation during May and June 2022 re5pe¢tively. The Foundation Is due lo rec81V8 a further donation of £￿,868 froffl the Society in September 2022, reflecting the increased donation amount prts-rated in 2022. Furthermo￿. income from the 'Your Interest in Th811S' memb81 schetne of £40,000 was also r8ceived during February 2022. The Charitable Foundation doe5 not have any overhead costs and 85 at the date ol signing there were no future commitm8nts w51h regards lo donabon8. During the 2022 Iinanoial ye81 the Chaiilable Foundation has tnade £61,000 ofdonatK)ns. The Trustees have a reasonable expectation that the Foundation has adequate rgSOUIC85 to continue in operational existenc8 foi the 12 months from th8 date ol signing the financial statements. Thus Ihgy have adopted the going con￿rn basis of accounting in p￿parIng the TIu5tees' Report and Financi81 Stalemenls. Leeds BulldlTrg Soclely Charltable Foundatton Trustetr$' Annual Roport and Flnanclal Statements 31 Docombèr 2021 Oblectlves and actlvltles The Foundation's income 15 ulilised for the purposes of achleving the objects foi which the Foundation was established as set out in the Foundation's Mernorandum ol Association. to promote purposes being exclusively ¢harilable according to the law ol England and Wales as the Directors I'Truste&s'l of the Foundation sh811 from time lo time dètèttninè and therefore the obj8¢1s meet public benefil requirements.. The Trustees have agreed that they will conS￿8r applications and grant donatlons lo UK registered charities which re improving the Iiv8s ol people who are disadvantaged or in vulnerable circurn5tsnces. It mainty supports charities to purchase equipment or materials which directly support their benefiuaries. In accordan￿ with the g8neral duty of Trustee to pio18cI Foundation's funds. the Tiuslees of the Foundatlon have agreed tts place funds not needed lor immediate expenditur& within an appropri8le inveslment and cheque acwunt with a compgtilive rate of Intere51 The Trustees meet four times a year to COnSKler requests ft)r funding. The donations granted normally range be￿een £250 and £1,OC(). The Tru51ee5 ¢onfirm that they have referred to the guidan￿ contained in the Charity Commission's general guidance on public banefit when rewewng the Foundation's airns and obje¢tNes and future 8Ctivilies. Aehievement and perfomance Foi th8 year under review grants totalling £151,153 12020.. £148,207) have been mad8 to registered chaiiti88. Charities which have benefited include those working in the following areas.. 5UPPOrt for the homeless., centres offering facilities foi the lo¢al Community with emphasis on the young and eldeily," skills training loi young people with Spe￿81 needs.. prowsion of transport for the phy8iC211y disabled," piactical equipment for the temiinally 111," and recr8ational and educational opportunities for childrgn and young people from disadvantaged backgrounds. Flnanclal revlew There was total income of £152,09812020.. £149,379) and total expenditure of £151,15312020.' £148,207) resulting In n8t surplus for the fin8nts81 year of £94512020.. £1.1721. R8S8rves PolKy It is the policy of th8 Foundation to maintain unrestricted funds. which are the tr88 reseNes of Ihtr Foundation at a level which provid&s sufficient funds to respond lo emerg8ncy applications for grants which arise frotn lime to time along with cover for manag8menl, administration or support Costs should they not be funded by Leed5 Building Society. There is no further policy with regaids to reserves. At 31 Dec8mber 2021 the unr8slricled funds wer8 £3,227 12020. £2,282). Plans for future perlod8 The Ttustees are tak4.ng 8 new strategic approach to the Foundation. ¢hanging the purpose 'to support people in need ol a safe and sècu18 home,. The Found8lion Continues to piowde UK registered charitigs with grant5 to support this new purpose and have deaded to fund prqects that fit within the following criteria themes.. sustainability. health. financial stre55. 8cc8ssibility, eduealion and adNice, and security and refuge. Du& to the in¢￿25ed donation from the So￿etY, the Foundation has de¢ided to lift the funding limit on grants and launch two different grant schetnes The stnall grant schemè will continue to support UK registered charitES with a turnover ol less than £1 million with grants of betrween £250 to £1,000. The large grant s¢heme will support UK registered charitps with multl-y88r grants ol be￿en £25,000 to £100,000. Thi5 will bg ￿unchIng frotn S8Ptember 2022. Dlsclosure of Infomiation to audltor The Trustees who h81d office at the dat8 of th8 approval ol thi8 Trustees. Report confimis that. so far as they are aware, there is no re￿vant audit infotmalion ol which the Foundation's auditor i8 uTrawa￿. and 8ach Trustee has taken all the steps that they ought to have taken as a Tiustee in order to make themselves aware ol any relevant audit information and to establish that the Foundation's auditor 15 awar8 of that infoitnation. Deloitte LLP have indic8ted their wllingness to be reappointed foi another term and 8ppiopriale arrangernents are being made foi them lo be deemed reappointed as auditor in the absen￿ ol an Annual General Meeting. Signed on behalf of tho Trusteos Imogen Graham Secretary 7 September 2022 Lèèds Bulldlng Soclgty Charltablè Foundatlon Trustees, Annual Report and FSnanclal StatemBnts 31 Docomber 2021 Tru5t88s' Responslbllltles Statement The Trustee5 (who are also Directors of Leeds Buildlng Society Charitablg Foundation for the purposes of eompany lawl are responsible for prepariw the Trustees. Annual Report and the Finanual Statements in accordance with applicable law and Uni18d ￿.￿gdO[n Accounting Standards (United Kingdom Generally A￿8Pted Accounting Practice) induding FRS 102°The Financial Reporting Standaid applicable in the UK and Republio of Ireland.. Company law require5 the Trustees to prepare financial statements for ea¢h financlal yèar which give a true and fair Vi8w of the state ol affairs of th8 Foundation and ol the incoming resou￿$ and appli¢alion of resources. including the income ard expenditure, ol the Foundation for that perilxl. In pr8paiing these Finanrial Stat8rn8nts, tha Trustees are required lo.. select appropriate accoun￿rn9 pollcies and then apply thèm eonsistent5y,' observe the meth(￿$ and princip￿& in the Charities Staternent of R8commended Practi￿ I'SORP'I,. make judgm8nt5 and estimates that are reasonable and prudent., in respect of the Financial Statements, stats whelh8r applicable UK Accounting Standards have been followed, subject to any material d8Partures disdosed and explained in the Financial Slalements., and prepare the Financial Stalemenls on the going concem basis unless il ￿ inappropriate to presume that thè Foundation will continu8 in business. The Trustees are responsible for keeping adequate accounting recoids that disclose with reasonable accuiacy the financial position of th8 Foundation and enab18 them to ensure that the Finanual state￿nts comply with th8 Companies A¢t 2(K)6. Th8y are 81s0 responsible lor saf8guardlng the assets of th8 Foundation and henr£ for taking reasonable Steps for the prevenbon and deieclion ol fraud and other iiiegularilies. Loods Bulldlng Socloty Charftabl& Foundatlon Trustegs, Annual Reportand Flnanclal Stalement¥ 31 Decemb01 2021 Independont Auditor's Report to the members and Trustees of Leeds Buildlng Society Charltable Foundatlon Oplnlon In our opinion the financial statements of Leeds Building Society Charit8bla Foundath)n Ithe'eharltab￿ company'l.. give a true arvj 18irwiew of the slate of the charitab16 company's affairs as 8131 De￿mber 2021 8nd its incoming resou￿$ aThJ appllealion ol resources. induding its incorne and expenditure, forthe year then ènded,. have b88n properly prepared in accordance with United Kingdom Generally A¢￿pted Accounting Practic8, including Financial Reporiing Standard 102 The Financial Reporting Standard applicable in th& UK and Republic of Ir812nd° and have been prepar8d in a￿ordaTh￿ with the requiremen& ofthe Companies Act 20(￿. We hav8 8udit8d the financial Ststements whid) comprise.. the statem6nt of financial adN4tie8 linclu¢Jing income and expenditure accounll., the balance sheet., and the related notes 1 to 5 The financial reporting framework that ha$ been applied in their preparation is applicable law and Unlted Klngdom Accounting St8ndards, including Financial Reporting Standard 102 "Th8 Financial Reporting Standard applicable in the UK and Republic of IrelarKS (United Kirtyorn Generally Acc£pt8d Accountr'ng Practic81. Ba81s for oplnlon We conducted our audit in accordance with Intemational Standards on Auditing IUKI IISAS IUKI} and applicable law. Our re5ponsibililies under those standards ar6 further described in the auditorfs ￿SponSIbl11118s forth8 audit olthe nan￿81 statements section ol our report. We are IndepeThYent of tt)e ch8ritable company in accordance with th8 ethical requirèments that are relevant to our audit of the financial statem8nts in the UK Induding the Finana81 Rewrting Council's (the 'FRC's'l Ethic81 Standard. and we have fulfilled our Othereth￿al responsibilities in accordan￿ with thes8 r8quiremenls. We believe that thè a￿lt eVKIen￿ we have obtained is 5uffici8nt and appropiiat8 to prowde a basis for our opinion. Gonclusions relatlng to going concern In auditing the financial stalemenls, we hav8 concluded that the Trustees, use of the going eonc&rn basis of accounting in the preparation ol the finan(ial statements is appropriate. Based on the wort( we have performed. we hav8 not idenlif(ed any rnat8rial uncertainties relating to evénts or conditions that, individually or collectivèly, rnay cast significant doubl on the charitable company's &bility to continu8 as a going contsm for a period of at least twelve month5 from when the financial statements ale authorised for i58U8. Our r8sponsibilities and th8 iesponsibilities of th& Trustees with r8spe¢l to goiw concern are described in the relevant sections of this report. other information The other inlonnation comprises the infomation included in the annual report other than the financial statements and our audilorfs report thereon. The Trustees are ￿SponSible for the other infoimalion contained within the annual report. Our opinion on thè financi81 statements do85 not cover the other information and. ex¢ept tts the extent olhetWi58 explicitly staled in our report, we do not express any form of assurance conclusion the￿0Th. Our responslbllity 15 to read the othei information and. in doing so. con5id8r whether the tsth8r infonnation materially inconsislenl with the financial statements or our knowledge obtain8d in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a ma18rial misstatem8nt in the finaDcial statements theMse￿e$. 11, basecl on the work we have performed, we conclude that there 15 a material misstatement ol this othei inlomiation, we are required to report that lacl. Wg have nothing to report in this regard. Responslbllities of Trustees As explained more fully in the Trustees. responsibilitlès Statement, the Trustees Iwho are mlso the Directors of the chaiitable company for th8 purpose of company 18wI are responsible for the preparation of the financial slalements and for being satisfied that they give a true and fair vi8w, and for such internal control as IheTruslees d8termine is L8eds Bulldlng Soclety Charltable Foundatlorb Trustees, Annual Report and Flnanelal Statements al December 2021 Independent Audltor's Report to the member8 and Trustees of L8ed5 Building Soclety Charltable Foundatlon l¢ontlnuedl necessary to enable the preparation of financial 8tatetnen15 that ale flee Irotn material mi55taternent. whether due to fraud or error. In preparing the financial stat8menls. th8 Trust885 ar8 18sponsibl& foi ass8s5ing the eh81iiabl8 company's ability to continue as a going concern. disclosing, as applicable. ma118rs related to going concein and U￿ng the going COn￿M basis ol accounting unless the Trustees either intend to liquidate the Charitable company or to ￿8$e op8ratlOns, or have no iealislic alternatwe but to do 80. Audltor's responslbllltles for the audlt of the flnanclal statements Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free from rnat8ri81 misst8t8ment, wh8th8r du8 to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level ol assuran￿ bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will alway5 det￿t a material misstatement when It exists. Misstatements can arise from fraud or error and are considered material if. indivKlu8lly or in the aggregate, they could reasonabty be expected to influence the economic decisions ol users taken on the basis olthese financial 8tatem8nts. A further description of our responsibilities for the audit of the financi81 slatemtrnts Is located on the FRC'S website at.. www.frc.o -ukl8udito i8s. This de5ciiplion forms part of our auditoi's report. Extent to which the audit was conslderèd capable of detecllng Irregularltles, Includlng fraud Irregularilies, including fraud. 8re instances of non-cornpliance with laws and iegulation5. We design piocedure5 in line with our responsibilities, outlined above, to detect mat81ial missts18m8nts in respect of irr8gulaiilies. including fraud. The extent to wh￿h our procedures are capable ol detecting irregularities, including fraud is detailed below We considered the nalure ol the charitable cornpanls industry and its control 8nvironmenL 8nd r8vi&wed the charitable companys documentation ol their policies and proc8dures relating to fr8ud and carnplianc8 Wlth 18ws and regulations. We a150 enquired of management about their own identification and assessment ol the risks of irregularitses. We obtairEd an understanding of the legal and regulatory framework that the ¢harilable cornpany orerales in, and identified th8 key law5 8tKI regulatK)ns that.. had a diFect effect on the detemiination ol material amounts and disclosures in the financial statements. The89 included UK Charities Act and UK Companies Act. do not have a direcl effect on the financial statements bul compliance with which may b8 fundarn8ntal to th8 charitable company's ability to operate or to avoid a material penalty. This in¢lud&S the Charity Commi8sion for England and Wales Ichaiily Comrnission} regulations. W8 discussed among the audit engagement team regarding the opportunities and in￿ntiveS that may exist within the organisation for fraud and how and where fraud rnight occur in the finanual Statements. As a result of performing the above, we identified the greatest potential for fraud or non-compliance with1aws and regulations in the followitvJ area. and our specific procedures performed to add￿$$ it are described bdow.. we presume a risk of material misstatement du8 to fraud in revenue recognition which is related to th8 cornpleteness of donation Sncome. To address this risk, we reviewed the Trustees, Meeting minutes, bank stai8m8nls and post year 8nd r8cord5 UP to the date ol this iepDrt to test whether income had been appropriately included in the financial statements. In comrnon with all audlts urKSer ISAS IUKI, we a￿ also required to Pgrform specific prowlures lo respond io the risk of management override. In addressing the risk ol fmud through manag8m8nl ov8rride of controls. we ass8SS8d the design and implementation of conti015 over the asse55ment and approval of grant applications., tested the appropiiatene5s of journal enliies and other adjustments,. assessed whether the judg&m8nts mad8 in making accounting estimates are indicative of 8 potential bias, and evaluated the buslness rationale ol any significant transactions that are unusual or outsid8 th8 normal course ol business. In addition to the above, our proCedU￿S to respond to the risks identified included the following.. reviewing financial statement disclosui88 by t8Stlll9 to 5UPPOrting documentation to assess Complian￿ with provisions ol relevant laws and regulations de￿ribed as having a direct effect on the financial statements", L8eds Bulldlng Socloty Charltable Foundatlon Trus￿$. Annual Report and Flnanclal Statements 31 Decembèr 2021 Independent Auditor's Report to the members and Trustees of Leeds Buildlng Soclety Charltable Foundatlon Icontinuodl performing analytical procedures to identify any unusua1 or unexpected relationshlps that may indicate risks of rnateiial misstatement due to fraud", erwuiring ol management concerning a￿Ual and potential litigation and clains, and instan￿$ of non-compliance with laws and regulation5,' and reading minutes ol meetings ol those charged wth governan Report on other18gal and regulatory requlremènts Opinions on other maltets prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the inforrnats'on given in the Truste8S' 18POrt. which includes Directors, report prepared for the purposes of company law for the financial year for which the financial statem8nt5 are prepared is consistentwith the financial statements., and Oireclors. report included ¥Mthin the Trustees. r8POrt have been prepared In aecordanc8 with applicable legal requirernenls. In th8 light of the kno¥￿edge and understanding of It￿ tharilable company and Its onvironrnent obtained in the course of th8 audrt. we have not identified any materi81 misststements in the Directors, report included within the Tiust88S' report. Matters on whlch we are requlrèd to r8POrt by exceptlon Under the Companies Act 2006 w8 are required to report in respect of t￿ following mallers if, in our opinion.. adequate aceounting iecords have not been kept, or return5 adequate for our audit have not been received from branch85 not visited by us., or the financial statements are not in agre8rnent with the accounting iecotds and retums., or the trustees were not entiued to lake advantage of the small compant8s' exemption in preparing the trustees. report and from the requirement to prepare a strategic report,. or C8rt8in disclosures of Trustees, remuneration 8P8cified by law a￿ not made,. or W8 have not re￿1Ve￿ all the inlotmation and explanats'ons we requirè for our audit. We have nothing to report in respecl of these matters. Use of our report This report is made solely to the charitable eompany's members, as a body, in accordanc8 Wth Chapter 3 01 Part 16 of *h8 Companies Act 20(b. Our audit work has b8en undertaken so that we might slate to the charitable company's members those matters we are required to stste to them in an auditorfs report and for no other purpose. To th8 full8St extent permitted by law, we du not aC￿pt or assume responsibility to anyone other than the eharitabl8 company and the ehaii18ble companys members as a body, for OUT audit work. for this report, 01 for the opinions we have formed. Sarah Ander50n FCCA (Senior 8tstutory audltorl Foi and on behalf of Deloille LLP Ststutory Auditor Leeds, United Kingdom 8 Septembei 2022 Leods Bullding Socl&ty Charltablo Foundatlon Trustees, Annual Report and Flnan¢lal Statements 31 Docember 2021 statement of Financial Activities Iln¢ludlng Income and Expondlturè A¢countl Notè 31 December 2021 31 De￿rnber 2020 Income from: Donations and legacies Investments 151.429 669 152,098 148,433 946 Total Income 149,379 Expendlture on: Charitable activities Total expendlture 1151,1531 1151.1531 1148,2071 1148,2071 Net surplus forthe year 945 1,172 Reconciliation of funds.. Total funds brought forward at 1 January Net mov8mènt in funds for the year Total funds carried forward at 31 Oe¢ember 2,282 945 1,110 1,172 2,282 3.227 All income and expenditure derived from continuing operations of the Foundation. All ￿ndS are unr88tricted. The ch8rit8ble company has no oth8r 18cognised gains or losses oth8r than Ihose listed above and th& net defiut for the year. The accounting poliri93 arKI th)ies on pages 10 to 11 foim part ol t￿se Financial Statement5. Leeds Bulldlng Soclely Charllable Foundatlon Trust8os' Annual Rep¢rt and Finan¢lal Slatomanis 31 DB¢embpr 2021 Balance Sheet 31 December 2021 31 De￿rnber 2020 As at 31 December Current a$$ets Cash at bank and in hand Total ¢urrent assets 3,227 3.227 2.282 2,282 2,282 Not 88S8ts 3,227 Total unrestrict8d funds 3,227 2,282 These financial statements have bean pr8pared in accordance with the provisions applicable lo companies sut4.ed lo the small companies, regime, in 8ccordan￿ with the Companies Act 2006. The accounting policies and notes on page5 1010 11 form part of these Financlal Statements. Th8 Financial Statements ol Leeds Building Society Chaiitable Foundation were approved and authoris6d for issue by the Trustee5 on 7 September 2022 and We￿ signèd on their behalf by." Hetheringlon Trustee Timothy Stea[8 Truste8 R8gistered Charlty Number.. 1074429 Company Registered Number. 03724612 Leeds Bulldlng Society Charlt8bl8 F¢iundatlon Trustees, Annual Report and Flnanclal Statam8nts 31 DecembeT 2021 Notes to the Flnanclal Statemènts Accountlng policies The Foundation, a public benefit entity. is IncorpDrated in England and Wales as a company limited by guarantee not having a shar8 capital. At the end of the year there were six Trustees. three of whom are also employae5 of the Society. Each Trustee member has und8rtaken to contribute lo the assets in the event ol winding up a surn not ex￿ed1r¥j £1. The Foundation 15 a registered ¢harity. The registe￿5 office Is given on page1. The principal accounting policies are set out below. In the application of the Leeds Building Sodety Charitab18 Foundation accounting policies, the Trust8es a￿ ￿qUired io rnake judgetnenls. estimates and assumptions about the carrying amounts ol assets and liabilitie5 that are not readily apparent from other sources. The estimate3 and associated assufflptions are based on historical experience and other factors that a considered to b8 relevant. Aclual results may drfrer from these estim8t88. The estimates and und8rtying assumptions ar8 reviewed on an ongoing basis. Revisions lo accounting e51im8te5 ate recognised in th8 pefiod in which the esb'tnate is revised if the r8vision affects only that Period, or in the teriod of the tyvision and futur8 P8ri0d5 11 the revision affects both current and futur& periods. Th8 Trustees do not (x)nsider that there are any ciib.cal JUdg￿entS or 50urc6s ol estimation uncertainty requiring disclosure beyond the accounting policies listed below." Basls of accounting The financial statements are prepa￿￿ under the histori¢81 cost convention. in a￿Ordants wtth the Statement ol Re￿E￿Me[￿ed Pra¢li¢e Accounting and ReFM)rting by Charities ISORP 20191 applieable to ¢hariti8S preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic ol Irdand IFRS 1021 and the Companies Act 2006. The Foundation qualifies as a small cornpany in accordanc8 with s382131 ol the Companies Ad 2006 and th8 Financial Ststement5 have been prepared in accordance with the provisions applicab18 to companies enlit18d to th8 small Compan￿9, exemption, which includes an 8xemption Irorn preparing a Cash Flow Statement. The presentation and functional currency ol these financA81 statements is sterfing. Golng concgrn basls AS slated prevlously in the Trust68s' Annual Report and Directors, Report, th8 Trustees have a reasonable expectation that the Foundation ha5 adequate resource5 to continue in op8r8tional existsn¢e for th8 foreseeable future. Thu5 thèy have adopted th8 going con￿rn basis of accounting in preparing the annual Financial Statements. Income Income is recognised wh8n the Foundabon has entiilemenl to the funds, any perfomiance conditims attached to the ilemlsl tsf income have been met, it is probab18 that the income will be r8C8ivad and the arnount can be measured r8liably. Inv8stment income r8pr8S8nts income re￿1vable fiorn Short term deposits. All donations and legacies a from Leeds Building Society rth8 societ￿,) and ils m8rnbers. Donations and 18gacies a￿ a¢count8d for as gross incorne on an accruals basis. Donated goods and 8ervlce$ Gifts in kind and donated services are included at the lower of their value to charity and their estimated market value. A corresponding arnount is then recognised in expenditure in the period ol re￿ipt. Expenditure charltable actlvit188 Expenditure is recognised once there is a18gal or conslruclive obligation to make a payment to a third party, it is probable that sett18ment wll be required and the amount ol the obligation can be measured reli8bly. GraThts payable represent donations lo registered charities approved by the Board of TIu5tees. Cash at bank and in hand Cash at bank and ¢ash in hand includes cash and short term highly liquid investments with a short rnaturity ol th￿e months or less from the dat8 of 8CqUlSlth)n or opening of the deposit or similar account. Finan¢lal instruments The Charity only has finanaal assets atvj financial liabiliti85 of a kind that qualify as basic financial instruments. Basi¢ financial instiutnenls are initially iecognised at tran58cts.on value and subs8quently measurgd at their sètuemenl valu8. 10 Leeds Bullding Socl8ty Charllabl& Foundation Trusle•s' Annual Report and Flnanclal Statements 31 Dgcombor 2021 Notes to the Financlal Statemgnts leontlnvedl Taxation The Foundation is a registered ch&iity and has no lisbility to corporation lax on ils charitable actiwtps under the Corporation Tax Act 2010 Ichaplers 2 and 3 of part ii, section 468 onwards) or Section 256 of the Taxation for Chargeable Gains Act 1992, to the extent surpluses are applied to ils charitable purtK)ses. Charltsble aetivitie8 During the y8ar the majority of donations were below £1,OCKJ12020.' £1.OCM) majorftyl. All grants were made to instilulions, not individuals. total of these grants was £142,153. with most grants being less than £1,000. and the highest grant being £1,980. All grants were approved and Pa￿ in the year, therefore consequently no brought fotward or carried forward creclitors exist. In the y8ar. a lotal of 158 grants were made12020.. 2091. These ￿re made up ol the categories 85 shown below. 2021 2020 Direct Costs e of actlvl Disadvanta 27,477 6,945 20.860 22.482 41,927 14.280 8,202 142 153 22,281 11,161 15,302 16,762 60.776 14,425 1.800 142 507 Pove Social inclusion Mental or h Homelessness Carin onsibilities Total direct Costs ort Costs Governance costs- audit fee donated seNices 9,000 Total costs 151 153 148 207 During the year, the support Costs included within the Charitable Activities, a donat8d fee of £9.000 of audit remuneration, pahj on the Foundation's b8h811 by Leeds Building Society. Management and admlnlstratlon of the Foundatron Administration servi￿$ are provided by L88ds Building SO¢￿tY f￿0 of charge and it i8 not pos5ib18 to deterffline a reliable value of these don8t8d service5. There were no employees of the Foundation during the year12020.' none) and no rec*arges have been made by the Society lor the servlce ol ils employees. Trustèès, e¥pen$e5 Ttstal Trustees, expenses reimburs￿1 or paid on thelr behalf during the financial year amounted to £nil12020'. None of the Trustees re￿iVed any remunerats.on in the current or prioryear. Related paity tran5actrons During the year. th8 Foundation r8C8wed donAtions of £90,000 12020.. £95.7001 from the Society. It 8lso rèc8ived £49,155 12020.. £49,416) from the Society's 'Your In18r8s1 in Theirs, scheme and AGM incentive scheme5 and survey donations of £3,18012020.. £3,317). As Stated in Note 2, £9.(K)O tsf audit remun8iation was p8kl on the Foundation's behalf by Leeds Bullying Society. Since all adminlslration seNits5 are provided by Leeds Building S￿iety, ther8 are no key management personnel beyond the TrUSt￿S and therefore no discbsurè of key management personnel remuneration i given.