Company registration number.. 05290948 Chatity registration nwnber: l J08242 Lucy Griffiths Foundation Ltd (A company limilcd by gua13llt¢e without share capital) Annual Report and Financial Statements for the Year End¢d 31 D¢wnber 2024
Luey Crlffitbs Foundation Ltd Contents Referenc£ ond Administrative Details Tnts. annual report (itncluding dir¢ctotrs' report) 2to3 IDdep¢nd¢nt ExamilleT'S Report 4t05 Statement of FiDallcial Activities Balan¢¢ She¢t 7t08 Notes to the Financial Statements 9t014
Lucy Griffith$ Foundation Ltd Reference and Administrative Details Dlr¢¢tor Mr MI Hughes Prlnefftpal Office Unil D2 Fenton Trade Park Fenpark Way Fenton Stoke-On-Trent ST4 2TE The charity is incoOrated in England & Wal¢s. 1108242 Chrity Registration Number Company Reg15trtlon Number 05290948 BoDk¢rs National Westminster Bank PIC 2 Crewe Road Alsager StokeAon-TTent ST7 2ER Page I
Lucy Griffltbs Foundation Ltd Trnstees, annual report (includfing directors, report) The member, a director for the putpose5 of ¢ompany law, presents th¢ annual report together with the fjnancial stat¢m¢nts alld auditors, report of the charitsble company for the yeaT ended 31 December 2024. Objectlvey and acthwitles Objeets dndAims The objects 8nd 8illLS of the charity is to provide social housing to the general public. Public bénefit Th¢ aiDJ of the clmtity is to PTovide socialhousing to the general public. The dir¢¢tor confirtn that they hav¢ comp]ied with th¢ T¢quirements of section 17 of the ChaTiti¢8 Act 2011 to have due regard to the public benefit gutdance published by the Charity Commission for England and Wales. Tru8tses offieers The lrnstees and OffiCS serving during the year attd sin¢e tbe year end were as follows: Dtrector.. Mr Mt Hughes Finan41 Instruments Objealves andpolicies The clwitys aGtiviti¢s expose it lo a number of financial risks including ¢dit risk cash flow ri8k and liquidity risk Th¢ use of fuwicial dcrivatives is governed by the charity's po]icies approved by the board of director, which provlde WTitten winciples on tbe of fJDan¢ial derivatives to m&nage these risks. The charity does not Use derivative fmancial instruments for speculative purposes. Credli riyk Th¢ charity'8 princApal fm&ttcial assets are battk balances and c8sb, trade and oth¢r Teceivabl¢& and inveslment propetties. The chity'S ¢dit risk is pimarily attributable to its propertiC5. The properties are revalu¢d annually using a thiTd party 30ur¢¢. The cbarity bos significant concentration of creditTisk Llquldlty rlsk In order to aintain liquidity to ensure that sufficient funds aTe available for ongoit)g operations and developwents, thc chilY Se8 a D)ixtyre of long-terni and short-term debt fiDallce. Furtber detsils r¢garding liquidity risk ¢aD be found in the Statement of 8ccounting polici¢s in the financial statements. Page 2
Lucy Griffiths Fowidation Ltd Trustees, annual report (ineluding direetors, report) Statement of dlre¢tor's re8ponslbllltles Rupowibiliies The director (who is tho the director of Lucy Griffiths Foundation Ltd for the purposes of ¢ompany law) is respon1¢ for prepIng the Tntee$, annvttl report (including directors, report) and the fill8ncial sttemetsts tn accordance wlth applicable law and Unit¢d Kingdom Accounting Standards (UDjted Kingdom Generally Accepted Ac¢ouoting Pra¢tice). including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ir¢land'. Company law I]reS the memb¢r to prepare fift¢141 statements for each fitsancial year. Under con)pany law the member mwt not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of thc Ch1tble company and of the incoming r¢sour¢es and application of resources, in¢luding its income alld expenditure, of the cbaritable ¢ompJoy for that pwiod. In pr¢p2riDg these financial statements, the Memb is r¢quir¢d to: s¢l¢ct suitabl¢ 4ccountin8 poli¢ies 2nd apply thern coDsist¢ntly observ¢ the methods and prAttciples in the Charities SORP. Dmke judgements and estimates that are reasonable and prudenl. stat¢ wheth¢r applicable accounting standards, comprising FRS 102 have beea followed, subje¢t to any material departtwes disclosed and explained in th¢ fiDanoi81 sts¢em¢nts' and prepare the financial slatelnents on the going concem b18 uDl¢ss it is inoppropriale to presume tbat the cb4ritable compai)y will ¢ontitiue in bw1n¢. The member is respoDsible for k¢¢ping prop¢r accounting records that can dtsclose with r¢&8onabl¢ accuwy at atLy time the financial position of the charitable company and enabl¢ them to ensur¢ tbat tbe fanCIal ststemeDts conwly with th¢ Comparties Act 2006. He is al80 tPonSible for safeguarding the assets of the cbarlt&ble company and hence fortsking re3sonable steps for the prevention alld detection of fraud and other irregularities. The Jir¢¢tor is r¢sponsible for the and integtity of the corporate and fu11 inf0mtIOn in¢lud¢d on th¢ charAtable company's website. Legislation goveming the preparation and diss¢n]ination of fjnanci81 statements may differ frorn legtdatiort in other jurAsdiction6. Small ¢onJpaDles provtsloD $tatem¢nt This repott has been prepared in accordanc¢ with th¢ small conu)gnies rngitne under th¢ ConwaDies Act 2006. The annual reportwas apwoved by the tnistee of the charity oDZq and signed on its b¢balf by: Truste¢ Pa8¢ 3
Luey Griffiths Foundation Ltd Independent Examiner's Report to the trustee of Lucy Griffiths Foundation Ltd ('the Company,) I report to the cbarity director on my cxaminBtion of the ac¢oullts of the CompaDy for the year ended 31 Dember 2024. R¢spoDslblllde8 rdDd b*#ts of report A5 the ¢harAty'8 director of the Company (and a180 its directors for the puq)oses of compaay law) you are responsibl¢ for the pr¢paration of the accounls in a¢conJance with th¢ reqUireellts of th¢ Companies Act 2006 ('the 2006 Act.). My examiDotioD was carried out in accordance with the G¢n¢ral Direction$ given by tbe Charity Coramission. An examination includ¢s a review of the accounting records kept by tbe charity and a ¢otop&ison of the accouttts pr¢sellted with those records. It also iticludes consideration of any unusual items or disclosures in the accowits, and seeking explanations from the ITUStees concerning any sucb matters. The procedures undertaken do not provide all the evidenc¢ that would be r¢quir¢d in an audit and. ¢oosequendy no opioion is given as to wheth¢r th¢ a¢couDts pr&4¢nt 8 'lJuc aDd faie view and the report is limit to those matt¢TS set out iti the Statement below. Having satisfied myself that the accounts of the Company ar¢ Dot required to be 8udit¢d under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your cbarAty's accounts as Carried out uTrd¢r wtion 145 of the Chariti¢s Act 2011 ('the 2011 Act.). In caryyiJ)g out my examination I have followed the Directions given by the Cljarity Cotllmission under section 145(5)(b) of the 2011 Act. Page 4
Lucy Griffiths Foundation Ltd Independent Examlner's Report to the trustee of Lucy Griffiths Foundation Ltd ('the Company,) IndepelldeDt ex*min¢r s statement I have con)pl¢ted Y examination. I cortfimi that no matters bave come to my 4tt¢ntion in connection with the examination gvving me cause to believe: accounting records were not k¢p¢ in reSpt of Lucy Griffiths Foundation Ltd as required by se¢tion 386 of the 2006 Act. or 2. the arcounts do tsot accord with thos¢ records. or 3. the accounts do not comply with the aOu[Ltllng rquirements of section 396 of the 2006 Act other thall Joy r¢quirement that the accowits givc a 'true and fair view, which is not a matter consider¢d as part of all itidependent examination; or 4. the accounts have not been ppared in accordance with thc m¢tbods and principles of the Ststement of Recommended PracÉic¢ for accounting and reporting by charities [applicable to ¢barities preparing their accounts in accordance with the FAtiancAal Reportill8 StandArd app]i¢able AD the UK Republic of Irelaud (FRS 102)]. I have no concerns and b8v¢ Qome o¢ross no other matters in connection with the examination to which attention 8hould be drawn in this reportin order to enable a proper uoderstanding of th¢ arcounts to b¢ rwh¢d. Iddlllgton Chartered Certsfied ACcoUntts Alextrn thoup Litnited Page 5
Luey Griffiths Foundation Ltd Staten)ent of FAnancial Activltfies for the Year Ended 31 December 2024 (Including Income And Expenditure Account and Statement of Total Recognlsed Gains and Losses) TotAI 2024 Unrestri¢t¢d Note tneome and EndowmeDt$ from.. IDVWtmeat incorn¢ 41,609 41,609 Total income 41,609 41,609 Expeudlture on. Raisitig fimds Other expenditure (15,927) 26,023 (15.927) 26,023 Totsl expenditure (41,950 {41,950 Net expendAture 341 341 Net movement in fullds (341) (341) Reconclllatlon of funds Totsl funds brought foThvdrd 485.115 485,115 Total fimds callied forward 14 484,774 484,774 Total 2023 UnrtstrE¢ted Nole Incorne ind Endowments from: Investm¢nt iDcome 40,279 40,279 Total income 40,279 40,279 Expendihtre on: Raisitig funds Other expenditur¢ {11,935} 29,373 (11,935) 29,373 Total expenditure 41,308 41,308 Net expenditure (1,029 1,029 Net movement in fimds (1,029) (1.029) Re¢onclllAdon of funds Totsl funds brought for¥ward Totsl fimds carried fonvard 486.144 486,144 14 485,115 485,115 The notes on pages 9 to 14 forni aD ititegral part of thes¢ fmauoia] stalem¢nts. Pag¢ 6
Luey Griffitbs Foundation Ltd (Registrydtion number: 05290948) (Charity number: 1108242) Balance Sheet as at 31 Deeember 2024 2024 2023 Nots Flxed ass•ts Tangillle assets Investments 70 1.195,500 I,J95570 4,924 1,167.500 1,172.424 io Current assets Debtors Cash at bank aDd io hand 4,293 I,938 1,178 3,116 7.665) 5,609 Credltors: Amounts falling due one year 12 (13.534) Net ¢urreDt Ii*bllllles (7.925) (4,549 Total qssets less ¢urrent MAbllltles 1,187.645 1.167,875 Credltors: Amounts f&lllng due after mtsre than olle year 13 1,663 1,185,982 4.459 Net assets 1,163,416 Funds of the chthty: Unrestrl¢trd itieome funds Unrestricted funds Other reseEVeS 479.681 706,301 485.115 678,301 Totsl unwtricted futtds 1,185,982 1,163,416 Total funds 14 l 185 982 1163.416 The notes on pages 9 to 14 forni an inteBral part of these finattcial Statements. Pag¢ 7
Lucy Grifflths Foundation Ltd (Registration number: OS290948) (Charity number: 1108242) Balance Sheet as at 31 December 2024 For the fmancial year ending 31 December 2024 the charity was entitled lo exemption from audit under section 477 of th¢ Companies Act 2006 relatin8 to small con)paDieS. Director's Tesponsibilities". The members hav¢ not Tequired the charity to obtsin an audit of its accounts for the year in question in accordonc¢ with section 476. and The director acknowledges his responsibilities for complyitig wiib the requiyements of the Act with respect to accounting recon]s and the preparation of accounts. The friancial statements on pag¢s 6 to 14 were approved by the , and authorised for issue on ... sigu¢d on his behalf by: Mr Mt Hugbes Tnjstee The notes on pages 9 to 14 forni an integrnl part of th¢s¢ fJnancia] statements. Pag¢ 8
Lucy Griffiths Foundation Ltd Notes to the Financial Statements for the Year EDded 31 Deeember 2024 I Charlty 8talu5 The ¢h#rity is limited by guarantee, incorporaled in England & Wales, and collsequently does not have share capitaI. of the diTt is liable to contiibuts all oinoiu)t not ¢x¢eeATtig £10 towards the assets of the Charity in the event of liquidation. The address of its registered office is.. Unit D2 Fenton Trade Park Fenpark Way Fenlon Stok¢4)tt-Trnit ST4 2TE 2 Ac¢ountillg pollci Summary of sigDifi¢Jnt 4eeountlllg pollcles and key a¢countin% estimates The principal oUntIng policies applied in the pr¢parntion of th¢se finatLcial 8tatemellts aTe set out below. These polioics have been coD8iStently Appli¢d to all th¢ years presentsd, unless oth¢rwi8e $t8t¢d. St*t¢m¢nt o(compllance The financial st4t¢ments have been prepared in accordance with Accowititig and Reporting by CharAties.' Ststem¢nt of RecotumeDded Prnctice (applicable to chltieS prepillg their cOunts in accordan¢¢ with the Finattcidl Reporting Standard applicable in the UK &rtd Republic of Ireland (FRS 102)) (issued in Octob¢r 2019) - (Charities SOIIP (FRS 102)), the Financial Reporting Stand&Td applicable in the UK alld Repllblic of Ireland (FRS 102) #ndih¢ Companies Act 2006. Basts of preparatlon Lucy Griffiths FouDdpAtion Ltd meets the definition of 8 public benefit entity undet FRS 102. Assets and liabilities are initially wognised at Iltstorical cost or transaction value unless otheThvAse stated in the relevunl ccounting policy not¢s. Incomt and endowmenls All income is Tecogniscd once th¢ charity h&8 ¢rttitlement to the income, it is probable that the income will be received and th¢ amount of the income receivable can be measured ieli8bly. Expenditure All expenditwe is recognised once th¢re 18 a legal or constructive obligatioo to that ¢xp¢nditure. tt is probable settlement is required and the amowit can be measured Teliably. All Costs are auocated to the applicable expenditure b¢ading tbat Oggregatc similar costs to that cat¢gory. Where Costs ¢allnot be directly attrAbul¢d to particular headings they hav¢ been allo¢at¢d on a b3S&S CODSiStertt witb the of re8our¢es, ¢¢ntsal staff oosts A]located on tbe bA8is of tim¢ spenL and depreciation charses allooatsd on the portlon of the asset's U8e. Other support costs are allocated based on the spread of stsff costs. TaDgible fixed ws$ets Expenditure is cJpitalised on fixed assets in accordan¢¢ with cwrent accounting principals. Page 9
Lucy Griffiths Foundation Ltd otes to the Financial Statements for the Year Ended 31 December 2024 Dèpreeiation aDd amortlsatfon Depreciation is providcd on tsngible fixed assets so as to write off thc cost or valuation, Ic5s any estimated Tesiilu81 value, over their expected weful cconomic lif¢ as follows.. Asset ¢lass Furniture and equipment Motor vehicles Depretiatlon method and rate 20b/• rethicing balance basis 250/0 reduciDE balance basis Inv¢stment propertles JJ)v¢stm¢nt property is carried at fair value. derived from the current market prices for compardble properti¢s. Changes in fair value are recogjiscd in oth¢r reserves and are not distsibutable. Fund structure Unre8tri¢ted incotne fi)nds are gener81 funds that 8r¢ avoilabl¢ for use at the directovs discretiott in fi]rtkneran¢e of the objectives of lh¢ charity. 3 Investment income UnrtStri¢ted fullds Genergl Total 2024 Total 2023 tncome from rents 41,609 41,609 40,279 Unrestrfteted ds General Total funds tocom¢ from r¢uts 41.609 41,609 Total for 2024 41,609 41.609 Totsi for 2023 40,279 P88e AQ
Lucy Crlffiths Foundation Ltd Notes to the FAnanci21 Statements for the Yep4r Ended 31 Deeember 2024 4 Expemdlture rafskng funds a) Investmejrt managemellt Costs Unrestrlcted Total 2024 Totol 2023 GeDeral Allocated SUPPDrl cos¢8 15,927 15,927 11,935 15,927 15,927 11,935 5 Expendlture on eh*ritable actlvitles Unrestrieted fuDds Genernl Total funds Note Governance costs 5.093 5.093 In addition to th¢ ¢xpenditttre allYsed above, there ar¢ also governance costs of £5,093 (2023 - £Nil) which relate dir¢¢iLy to charitable tiVitieS. See notc 7 for fijtther details. 6 Expenditure Unrestrlcted Fullds Total 2024 Total 2023 General Legal fees D¢prlatioll, nrtIsatiOn and other 8in)ilar costs Other resources expettded 4,732 4,054 17,237 4.732 4,054 17.237 6,076 1,635 21,662 29,373 26.023 26,023 Page 11
Lucy Griffiths Foundation Ltd Notes to the FiDancial Statements for the Year Ended 31 December 2024 Taiatloll The charity is a giStered charity and is therefore exempt from taxation. 7 Analysis olgovernftnte f4nd sUPPOrt ¢o¥ts GoveTnan¢e costs UnrtrIcted funds General Total funds Oth¢r gov¢rnall ¢0sts 5,093 5,093 Totsl for 2024 5,093 5,093 8 Staff costs The monthly averdge number of persons (includtng sellior nllageMent I leadership team) employed by the charity duriDg the y¢8r exprnssed as fijjl time equivalents was as follows". 2024 2023 Director Page 12
Lucy Griffiths FouDdation Ltd Notes to the Financlal Statements for the Year Ended 31 Deeember 2024 9 Tanglble fix¢d assets Furnfitsre and equlpment Motor vehldes TotAI Cost At l January 2024 Disposals 1,055 7,200 8,255 7,200 At 31 Decemb¢r 2024 1,055 1,055 Depredallon At l Jaou8ry 2024 Charge for the year Elimina on disposals 968 17 2.363 3.331 17 (2,363 (1363) At 31 Decetnber 2024 985 985 Y4et b(k value At 31 Deceothr 2024 70 70 At 31 D¢cemb¢r 2023 87 4,837 4,924 lo Fhed asset investments 2024 2023 Jnve8tm¢nt properti¢5 1,195.500 1167.500 IDY¢$tment properties Investment properties Co8t or V110 At l January 2024 Revaluatioll 1,167,500 28.000 At 31 D¢oember 2024 1,195,500 Provlslon At 31 December 2024 Net book value At 31 December 2024 1,195 500 At 31 Decellther 2023 1 167 500 Pagc 13
Lucy Griffitbs Foundatlon Ltd Notes to the Finydncial Stydtements for the Year Ended 31 December 2024 IX Debtor8 2024 2023 Other debtor8 1,938 12 Credltor8: amoiiDts due iylthln one year 2024 2023 BaT& lo$ Trad¢ ¢r¢ditors Otbor edItOrS 2,795 1,295 2,727 4,938 7,665 13.534 2024 13 Credltors: amounts falling due thfler one yexr 2024 2023 Bak loatL 1.663 4.459 14 FTmd5 Bglanee at JI December 2024 Balance At I January 2024 Jn¢oming resourc Resources expended Unre8trlcted funds G¢neral 485,115 41,609 47.043 479,681 BYdl•nce a131 December Balanee at I Jlnuary 2023 InconllE resour¢es Resourees expended 2023 Unre$trfi¢ted fynds Genernl 486.144 40.279 41,308 485,115 Page 14
Luey Griifrtbs Foundation Ltd Statement of Financlal Activitles by fund for the Year Ended 31 Deeember 2024 Unrestrlcted Funds Total Tot41 Unr¢stricted Unrestricted Funds Funds 2024 2023 lllcome wnd Endowments from: Investment income 41,609 40,279 Totsl income 41.609 40,279 Exptndlture on: Raising funds Cbaritable act&viti¢s Other cxp¢nditure Totsl ¢xpenditttre Net expenditure Net movement in funds (15,927) (5,093> 26.023 (11,935) 29,373 47,043 41,308 5,434 1,029) (5,434) (1,029) Ree(fvnclllgtlon of funds Total fund8 brougbt forward Total fund8 carried forward 485,115 486.1 479.681 485.115 This page does not forni part of the stathtory fmancial statemeDts. P8ge 15
Lucy Crlffiths Foundatlon Ltd Detalled Statement of Fknaneial Aetivities for the Year Ended 31 December 2024 TotAI 2024 Tolal 2023 Income and Endowments from: Investm¢nt income {anaiysed below) Total incolne 41.609 40.279 41.609 40,279 Expenditure on: Raising funds (analysed below) Cbwitsble activitie8 (analysed below) Other expenditure (analysed below) (15.927) (5,093) (26,023) (11,935) (29,373) Total expenditure (47.043 41,308 Net expenditt¢ (5.434 1,029) Net movement in fund8 (5,434) (1,029) RLYonciIiy4tion of Thd$ Total funds brousbi foThard Total fund8 cwried forward 485.115 486,144 479.681 485,115 This pag¢ do¢s not fonn part of th¢ statutory finaDcial ststements. Pagc l6
Lucy Criffiths Foundatlon Ltd Detalled Statement of Financial Activities for the Year Ended 31 December 2024 Total 2024 Totsl 2023 Investmenl income Rentsl incom¢ 41,609 40,279 41.609 40.279 Raisingfvnds RepairJ and mainteDaDce (15,927 15.927 11,935 11,935 Charilable actlvltie Rates Ligb¢ heat andpower Computer software and maint¢nAnce (3,894) (960) (239 Other Commissions payable Rent (administration) Insurance T¢l¢phone and fax Motor expenses Vehi¢le hire Piinting, postage and Stationery A¢couDtancy fees Legal and profes8Aonal fe¢s Sunthy expenses Cleatiing Bank Charges Loss on sale of tattgibie fixed 8ss¢ts b¢ld for charity's OWD Use Depreciation of fixtur¢s aod fitttngs (owmed) Depreciation of motor vehicles (owned) Loan interest (3.599) (1,734) (2.846) (3.484) (1,500) (50) (6,377) (9,487) {51) (S.826) (250) (64) (95) (338) (3,515) (4,562) (221) (4,732) (75) (536) (4,037) (17) (22) (1,613) 216 149 26,023 (29 373) This page does noi forn) part of the stattjtory finall¢ial 5tatemeJTrts. Pag¢ 17