2024-03-31-accounts - Leo Lion Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

LEO LION FOUNDATION

REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Charity registration number: 1122148

LEO LION FOUNDATION

Annual Report and Financial Statements

Year Ended 31 March 2024

Contents
	Page
Charity Reference and Administrative Details	3
Report of the Trustees	4
Independent Auditor’s Report	17
Consolidated Statement of Financial Activities	20
Consolidated Balance Sheet	21
Charity Balance Sheet	22
Group Statement of Cash Flows	23
Notes to the Financial Statements	24

LEO LION FOUNDATION

Annual Report and Financial Statements

Year Ended 31 March 2024

Charity registration number

Charity registration number 1122148 Trustees Lawrence J Sullivan Joanne Pickford Robert Brown Jake Hatt Claire Cookson (appointed 27 July 2024)

Senior management team

Joanne Pickford – CEO Ken Goulding – Treasurer Erin Orford - Marketing

Principal and registered office

1A Royal Parade Tilford Road Hindhead GU26 6TD

Auditor

Bankers

Azets Audit Services Gladstone House 77-79 High Street Egham Surrey TW20 9HY Barclays Bank UK PLC PO Box 299 Birmingham B1 3PF

LEO LION FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Trustees of the charity

The trustees who have served during the year and since the year end were as follows:

L J Sullivan J Pickford R Brown J Hatt

On 27[th] July 2024 Claire Cookson was appointed to join the board of Trustees. Claire is the CEO of special needs education specialist Pathways Education Limited. Claire is an experienced senior leader with an extensive background in education leadership, innovation and governance. She brings a strong understanding of collaborating with businesses, educators, and Local and national government to develop both high-quality education and employability outcomes for learners with special educational needs and disabilities.

Spearheading the development and growth of a multi-site trust of special schools and an innovative EdTech platform, Claire’s work currently focuses on supporting SEND learners and those at risk of becoming NEET (Not in Education, Employment, or Training) to access high quality, personalised learning opportunities.

On 23rd July 2023 a special resolution was passed to change the name of the charity from the COINS Foundation to Leo Lion Foundation. This change was effected due to the sale of COINS to Access UK Limited in November 2022 whereby the links to the Foundation fell away.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the Charity are, for the public benefit,

The prevention or relief of poverty or financial hardship anywhere in the world by providing or assisting in the provision of housing, education, training, healthcare projects, items services or facilities, and all the necessary support designed to enable individuals to generate a sustainable income and be self-sufficient.
The relief of financial need and suffering among victims of natural or other kinds of disaster in the form of grants of money for persons, bodies and organisations.
The advancement of education by providing and assisting in the provision of facilities, equipment and other items and services connected with the provision of education.
To promote community participation in healthy recreation by providing or assisting in the provision of facilities and other items or services for healthy recreation.
To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society.

For the purpose of the above, 'socially excluded' means being excluded from society, or parts of society, as a result of one or more of the following factors: unemployment; financial hardship; youth or old age; ill health (physical or mental); discrimination on the grounds of sex, race, disability, ethnic origin, religion, belief, poor educational or skills attainment; relationship and family breakdown; poor housing (that is housing that does not meet basic habitable standards); crime (either as a victim of crime or as an offender rehabilitating into society).

The Leo Lion Foundation is working towards an inclusive global society in which everyone enjoys the benefits of a decent place to live; enough to eat; employment and prosperity; freedom under just government and the rule of law.

LEO LION FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

We aim to achieve this by building towards communities where no member is excluded or disenfranchised by virtue of their health, impairment, education or poverty; communities which recognise the right of all their members to equity of opportunity; where those with strength support the weaker to be strong; where the wealthy support the poorer to prosper, where the wise support the uneducated to learn.

In setting the Foundation’s objectives, the trustees confirm that they have had regard to the Charity Commission’s guidance on public benefit.

Significant activities

During the year to 31 March 2024, Leo Lion Foundation continued our growing commitment to supporting social enterprises, charities and businesses with a social mission. We supported a range of organisations with grants totalling £873,316 - compared with £980,529 in the previous year.

Leo Lion Foundation Social Enterprises

i. Cookie Bar (partner)

The Cookie Bar operations comprise the Hindhead café and newly attached bike workshop. The Cookie Bar provides an environment for SEN and NEET students to experience aspects of running a business and start their journeys to become social, economic and creative contributors. This experience forms part of their school curriculum but also offers opportunities for employment for older children, as initial steps into the world of work. The Cookie Bar is applying to become an Alternate Provision with Surrey and Hampshire Local Authorities, so that the offer can be extended and new revenue streams generated.

ii. Free Bird Films

The Foundation has a 46.2% [49.1%] share in a film production company, Free Bird Film Limited. Free Bird Film is a social enterprise - it runs an annual diversity-focused film festival and invests profits into the event and generous cash prizes to support up and coming and talented filmmakers, enabling them to tell important stories that otherwise wouldn’t be told. We are enthusiastic about the prospects for Free Bird. Klatch Studios, the studio facility branch of the business, now operates four studios and a kit hire enterprise, and is exploring further avenues for growth. For the year ended 31st March 2024, Free Bird Film reported a loss after taxation of £76,534.

iii. Pathways Education (associate company)

Pathways Education is a start-up educational establishment that supports young people and their families with Special Educational Needs and Disabilities who have been out of education for an extended period of time. The mission of the school is to reconnect these young students who have disengaged or disappeared from the educational systems. We hope to drive social change to ensure that the young people are given an educational health care plan regardless of circumstances and ensure that they are not forgotten or left behind. An application was submitted to the Department of Education to increase the published admission number from 10 to 14 and increase the age range from 14 to 16 years, which has been approved by OFSTED. Pathways also successfully applied to become an examination centre.

The expansion of the school is planned through the use of the Quarry Farm site – see below. In the years ahead, Pathways Education will be looking for further opportunities to extend its special needs education by adding new schools.

Undershaw Education (partner)

In June 2020 the Leo Lion Foundation completed the sale of the Hindhead school building to the school at its purchased cost of £600,000. The transaction is financed by a secured loan to the school for the same amount. The loan is interest free, and the repayments continue to be made by the school on a straight-line basis over the six-year term of the loan.

The Foundation continues to support Undershaw Education by funding specific progressive projects.

LEO LION FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Donation of Properties in Hindhead

The Hindhead properties that were donated by CSB Holdings Limited to Leo Lion Foundation are leased to Inclusive Enterprises Limited and Leo Lion Limited.

The properties comprise a ground floor shop and a flat above. The shop is used for The Cookie Bar – a trading operation owned by Inclusive Enterprises Limited. The flat is leased to Leo Lion Limited, and rental income of £13,800 was received in the year to 31st March 2024. The rent for Leo Lion Limited commenced on 1st April 2023 and the rent from Inclusive Enterprises Limited commenced on 1st April 2024. The Foundation continues to maintain these leased properties under its leasehold obligations.

Sale of Construction Industry Solutions Limited [COINS]

Since the inception of the COINS Foundation, COINS has been a major sponsor and supporter of the charity. In November 2022 the sale of COINS was completed. The purchaser was Access Limited. The principal shareholder of COINS up to November 2022 continues to support the Foundation with significant funding. In addition, Access has committed to provide funding of £2,000,000 for the next four years which is recognised as income in these financial statements in accordance with the applicable accounting standards for charities. As a post balance sheet event – the November 2024 instalment of £500,000 has been received - which leaves a total of £500,000 outstanding.

Purchase of Quarry Farm – Liss Hampshire

In January 2024 the Foundation completed the purchase of a 17 acre property called Quarry Farm. The total cost of the property was £2,637,781. The plan for the site is to develop it for educational purposes and to provide opportunities and respite as an activity centre for those who have been bypassed by mainstream education providers.

Influencing and Awareness - the Next Generation

The Foundation's Life-Time President continued a programme of speaking at business schools, to influence students and future business leaders to think about setting up social enterprise and embedding social values within business.

The latest initiative to transform the world through business is the Future of Capitalism Competition. The objective is to identify and invest in tech start-up companies that share the same ethos and which aims to reconnect company success with social progress. The competition will be held at the Shard in London February 2025.

Grant making arrangements

The Leo Lion Foundation provides grants to projects that assist the Leo Lion Foundation in achieving its charitable objects as set out in the trust deed. In order to ensure funds are managed and used effectively and to ensure that trustees remain responsible and accountable for the Foundation's actions, the following organisational arrangements and grant-making policies have been agreed. In this statement no distinction is made between the meaning of the words 'grant' and 'donation'.

Policy Statement

The policy statement refers to all grants and donations made by the Foundation. It covers cases where the initiative for providing a grant or donation comes as a result of a request from an outside applicant, cases where the foundation responds to public appeals for funding for specific projects, and cases where a COINS Foundation trustee takes the initiative to propose a grant or donation.

a) Unsolicited grant requests from outside applicants are not to be considered by the trustees. b) Solicited grant requests from outside applicants will be assessed by the CEO in terms of how well they meet the criteria of the charitable objects as set out in the trust deed along with current strategic objectives. Those meeting the criteria will be submitted to the Trustees at the Trustees Meeting for consideration, approval or rejection.

c) Trustees wishing to propose a grant will submit such a proposal for consideration by the other Trustees at the quarterly Trustees meeting

d) The Trustees have powers to approve grants or donations, decided by a majority vote, for any sum provided it does not exceed the available uncommitted funds.

LEO LION FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Volunteers

The trustees provide their services on a voluntary basis. Costs of organising challenge events are covered by the organising /sponsoring company who may involve voluntary resources from time to time, to support the organisation of events.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Over the financial year to 31 March 2024 Leo Lion Foundation has supported a select number of projects and charities in the UK and internationally. We have a commitment to support projects in all the countries in which we raise funds, but the majority of our current work is with a network of projects in Africa.

Fundraising activities

The Foundation does not actively fundraise from the public.

PEAS (Promoting Equality in African Schools)

Partner Total - £275,463

About: For millions of children across Africa, the end of primary school is the end of their education. Too few schools exist, and those that do, charge unaffordable fees. As a result, just 1 in 3 African children access secondary school. PEAS is focussed on providing quality and affordable secondary education, promoting the importance of keeping girls in education.

Projects and Funding:

Expansion of Town View High School - £163,463 – Set in the second poorest region in Uganda, Busoba, Town View was acquired in 2022 following widespread school closures due to Covid. The school struggled to thrive and was in urgent need of funding to facilitate its expansion. By improving the infrastructure at Town view, not only will they be able to accommodate a larger student population, but it will also elevate student comfort and safety as well as learning outcomes. The new infrastructure includes a ground floor of storied girls’ dormitory - allows them to offer additional boarding spaces and allows for further expansion. A new sanitary block will alleviate strain on existing facilities and allow girls to feel safe and comfortable, resulting in fewer dropout rates. Solar power installations will provide light in student’s accommodation, enhancing safety and allowing for more studying during early mornings and into the evening. A motorized borehole will add to the one water source they previously had, which led to long waiting times and missed classes. Following the funding, student numbers increased from 224 to 232, predicted to hit 300 in 2025 after completion. The new facilities also mean increased capacity for female boarding as well as improved safety and study conditions. This leads to higher school enrolment and retention rates, particularly for girls.

Moving into Ghana - £100,000 – Ghana is a country with huge disparity in education access between the most marginalised in rural communities and the wealthier in urban cities. The most effective way for PEAS to support the poorest communities is to support those already operating in Ghana, both government and other education providers. Building on their pilot programme they’ve been busy establishing themselves in Ghana. Three new staff members including a Programme Led, Support Programme Lead and Programme Officer. Their work includes building relationships and partnerships with Government, potential strategic partners and increasing Local Community Engagement. So far they have already seen an increase in the number of students reached, supporting 32 schools and 7,590 students, 50% of which are girls. An improvement in the quality of teaching and learning is also evident alongside improved leadership and safeguarding practices. Using low tech digital tool, Kobo they’re able to record school assessments, track PEAS and GES support and surveys for school leaders to assess their baseline each term.

LEO LION FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Habitat for Humanity

Partner Total - £100,000

This marked the final year of the Urban Slum Upgrade Project in Ethiopia. Limited access to decent housing, safe water, and inadequate sanitation and hygiene (WASH) services in Ethiopia is responsible for 60 to 80% of infectious diseases. Diarrhoea is the leading cause of under-five mortality, claiming the lives of over 70,000 children annually. Addis Ababa, with a population of about 5 million, accommodates one-third of the country's urban population, with around 60% residing in slum areas. The city faces a severe shortage of clean water, inadequate sanitation facilities, and environmental health issues due to poor maintenance and rapid population growth. The absence of a sewerage system contributes to non-point source pollution in streams. Insufficient municipal waste disposal and limited access to water exacerbate the challenges faced by urban slum residents. With a combination of houses constructed and public facilities, including toilet units, kitchen and sanitation management, this project has had a huge impact on the community.

350 meters of sewage line serving 259 families (1,295 individuals) and two communal toilet blocks were constructed which will benefit 8 families (40 individuals). 2 communal kitchens, equipped with energyefficient stoves, benefited 40 individuals by providing a safer, cleaner cooking environment. Hygiene training has been provided to 400 households, resulting in improved personal and environmental hygiene practices. Over the 3 years they constructed 18 new houses, 6 new communal kitchens, 1,000 metres of sewerage lines and 6 communal toilet blocks with the total beneficiaries of this project reaching 6,047 (4,856 direct and 1,191 indirect).

Gender inequality remains a significant structural issue in Ethiopia, negatively affecting the country’s socioeconomic and political development. Persistent stereotypes, social taboos and discriminatory laws continue to marginalise women. 23% of women in Addis Ababa are illiterate, 22% are only primary educated and only 4% reached University level. Habitat recognised the importance of empowering women, and provided financial literacy and entrepreneurship training, facilitating access to loans for unemployed women. Their activities included, providing training to individuals and /or groups of women, strengthening women’s skills and linking them with Microfinance Institutions (MFIs) and enabling access to loans for income-generating activities. 100 women were chosen and received business and financial literacy training. 98 women are actively running their businesses, while 2 had to drop out due to series illness and change in residential location.

Warwick Business School

Partner Total - £100,000

2023 Bursary – £50,000 – This grant was used to fund the WBS Foundation Year Bursaries and Progression Bursaries as well as activities to support and uplift Foundation year student experiences. The scholarship fund provides support to 4 promising students who face economic challenges in meeting the cost of higher education. Scholarships are awarded based on a combination of financial need and academic merit, allowing students from diverse backgrounds to access education without compromise. Each student receives £4,150 annually throughout their three years of education. By alleviating financial burdens, this scholarship enables students to focus on academics and fully engage in university life, including extracurricular activities, professional development, and personal growth. Warwick also prioritises groups with specific challenges, such as mature students, certain ethnic minorities, those with disabilities, and refugees, providing targeted support for admissions, retention, and progression to create equitable opportunities for all students.

2024 Bursary - £50,000.

Sunbeams

Partner Total - £75,000 Future commitment - £50,000 This year’s grant - £25,000

Sunbeams aims to relieve sickness and assist in the treatment of children and adults who are suffering physically, emotionally, psychologically, and mentally by the provision of free music therapy and to provide introductory music therapy training.

Music For Life & Music for Dignity Programmes - £25,000 – 8 specialist graduate musicians help 2,400+ disabled beneficiaries improve their quality of life, their emotional and mental health and self-esteem through

LEO LION FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

their programmes. Delivery is free of charge to groups of children with complex medical needs, adults with disabilities, and elderly people with advanced dementia. The grant enabled the delivery of these workshops by contributing to musician fees, travel expenses supervision and staff training as well as centre costs.

Design & Technology Association

Partner Total - £63,000 Future Commitment - £42,000 This year’s grant - £21,000

Design and technology are about providing opportunities for students to develop their capability, combining their designing, and making skills with knowledge and understanding in order to create quality products. £16,200 was used to support the Design & Technology Association ‘Inspired by Industry’ in 2023. This content has been produced with leading design and manufacturing companies to support all D&T teachers with a suite of free KS3 resources to use in the classroom. By working on real-life contexts and learning from industry experts, it allows teachers of D&T to potentially shift how they deliver elements of KS3 in a way that aligns with KS4 and beyond, replicating how organisations, design, prototype, and test. Total downloads reached 2,880 but once downloaded, these resources could have been allocated to further students within each school.

£4,800 Sponsorship of Awards - Each year, the Association holds an annual awards ceremony held at a showcase venue to celebrate all that is good in Design & Technology education. In 2024, these categories were: The Excellence Award for Outstanding Industry Engagement (Industry Partner), the Excellence Award for Outstanding Departmental Team, the Excellence Award for the Bernard Brown Outstanding Pupil: Age 5- 11.

Due to the fourth award not drawing sufficient nominations, the funds were added to donations from Atkins Réalis and Enginuity and redirected to fund a research study into the effectiveness of the ‘Inspired by Industry’ work in schools. This project will start in January 2025 and look at student engagement, progress, teacher perceptions and parental perceptions. With the number of contexts approaching twenty-five by early next year, the attention will turn from context creation to embedding the resource in existing schools and training teachers to deliver these resources more effectively.

Widad

Partner Total - £58,130

Located in Dubai, Widad Center in Dubai serves a community of students aged 4 to 18 with special educational needs. All our students have a diagnosis indicating cognitive special needs, along with only minor physical needs. Each student participates in an educational program and receives multiple therapy interventions tailored to their individual needs. Today they serve 55 students, their highest enrolment since establishing as a dedicated special education facility.

Widad used the grant to purchase: a truck for the centre, 4 digital whiteboards, a digital camera, sensory equipment, grass for their play area and audio and visual enhancements. Widad aims to improve its facilities, resources, educational infrastructure and resources, and general provision. The objective is to provide a better environment with more functional and improved facilities. A digital whiteboard is an essential educational tool and with the increasing availability of online content, it became apparent that the lack of whiteboards was limiting student’s access to valuable online opportunities. Given that all their students have specific diagnoses, and their teachers are becoming proficient in using technology to support specialized learning methodologies, the absence of digital whiteboards was creating a barrier and hindering students' learning journeys.

Widad has now equipped all classrooms to ensure equitable access to technology-based learning. Students’ daily learning experiences are now not only better equipped but also serve as a marketing tool when showcasing the school to prospective families. A well-equipped school is one of the most effective ways to attract new enrolments and that has been proven with the surge of inquiries and enrolments.

LEO LION FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Wynyard Sailability

Partner Total - £25,322

Sailability Tasmania is a voluntary non-profit organisation that aims to provide a safe and friendly environment where people of all abilities are accepted and encouraged to participate in the sport of sailing. We welcome people without regard to age, ability, gender or socio-economic status as sailors or volunteers. The grant was used to purchase RS Venture Connect boat to be used within their Sailability sessions.

Ripon Museum

Partner Total - £20,000

This grant contributed to Ripon Museum Trust’s Supported Volunteer Programme, which helps people facing barriers to volunteering in the heritage sector, including those with mental health issues, learning disabilities, autism, physical disabilities, low self-esteem, and rural isolation. The program currently supports 19 regular volunteers and several short-term placements each year. These volunteers contribute to all areas of the museum, as RMT is dedicated to making its organisation as accessible as possible.

The work of the Supported Volunteer Programme has provided numerous benefits for both the organization and the volunteers. It has helped staff gain confidence in working with diverse and complex audiences, and the skills and enthusiasm of supported volunteers have had a positive impact on the organization. The success of the program is evident in the growing number of Supported Volunteers, who are now involved across all departments at RMT. A recent staff survey showed increased confidence in working with supported volunteers and recognition of the value of a more diverse organization. RMT plans to continue promoting Supported Volunteering in the Heritage Sector by sharing best practices, including findings from a research project with the University of York on building successful Supported Volunteering programs.

SATRO

Partner Total - £20,000

Funding to support the SATRO construction Programme. A total of 4,332 hours of training were delivered this year across the region in Surrey, Hampshire and West London Boroughs in 38 educational settings from mainstream to alternative provision, special needs to pupil referral units. The teaching included the following qualifications: BTEC Award, BTEC Certificate and AQA Unit Awards. Each session is led by one of their full qualified tutors managing the specific requirements of each group of students. The AQA Unit Awards were introduced this year for their most complex SEN students which has been a huge achievement and, in some cases, has shown schools that there is an opportunity to succeed, with some now looking at the BTEC as an option. SATRO were pleased to celebrate 207 students gaining qualifications with a further 141 continuing into their second year. Notably their Level 1 results were above the national average despite having some young people who were able to find success for the first time.

SATRO CONSTRUCTIONfest is aimed at all first year students and offers; an opportunity to discover the next steps, hands-on activities and discussions with a range of construction companies and networking opportunities with industry professionals. This event attracted 15 schools with 145 students, with 79% of the students feeding bac that they met someone or took part in an activity that changed their attitude to careers in construction.

Challengers

Partner Total - £18,250

Inclusive playground grant - Findings from a report by disability equality charity Scope revealed that half of families with disabled children in the UK face accessibility challenges with their local playgrounds. Challengers’ own parent survey further highlighted this issue, with only 6% of Surrey families feeling that there was adequate access to safe and accessible play in Guildford. But with the opening of their new playground at their centre in Stoke Park, Challengers hoped to change this by opening their doors to the public for free ‘family fun’ events.

Challengers Play Schemes - For many families with disabled children, Challengers is a lifeline that they simply wouldn’t be able to cope without. Between April 2023 and March 2024, Challengers delivered 75,817 hours of play through their services, benefiting 752 children, young people, and their families. Across the year, their service staff organised 18,036 sessions and the funding has been instrumental in contributing to that.

LEO LION FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Marcos Alegria

Partner Total - £18,000

Creative Arts can play a big role in students’ learning experience, allowing them to express themselves in different ways and build confidence in public speaking and performing, developing new skills in the process. Students at Undershaw and Pathways Education have access to and utilise Sundial Recording Studio on a regular basis free of charge.

This funds Marcos (a musician) to work with the students 3 days a week, providing one to one instruction and support. The sessions can include coaching on musical instruments, vocal coaching, song writing, musical production and editing and learning to create their own songs into an album. The main objective is to enable the student to express themselves in an environment they feel confident in. Many students have difficulties communicating or are shy in doing so. Marcos supports the students in their own goals and many go on to perform on stage at our annual Sundial Festival in front of 1,000 guests.

SEDCU

Partner Total - £10,500

SEDCU stands for ‘Supporting the Education of Disadvantaged Children in Uganda’ and was founded in 2012. It is registered with the Charity Commission of England and Wales. Its mission is to broaden and strengthen support to seriously disadvantaged children in South West Uganda so that they can benefit from good quality education and realise their full potential.

At the outset, SEDCU focussed on two primary schools, one (MCJS) in a very rural setting near the border with Rwanda and DRC, and the other (KDS) a state school in a nearby town but with a disabled unit which receives minimal Government funding. As time has passed, the children have grown up, and a number have progressed to secondary and/or tertiary education. Over 40% of the sponsored children have disabilities, mostly either deaf, sight impaired or blind; others have been orphaned, abandoned, made homeless or are living in extreme poverty. Of the 34 children they sponsor, 56% are girls; ages range from 5 to 26 years.

As well as running the sponsorship scheme, SEDCU also funds projects to enhance school facilities, support teacher training and activities to broaden the children’s horizons. The selected projects were:

A one-week environmental study trip for pupils, mostly those with SEN aimed at giving participants a greater awareness of the geography, environment and wildlife of Uganda.
A second week study trip adapted to differences in their demographics.
Funding the Head Teacher to undertake a University degree course required to study during each school holiday. Government recently announced all headteachers must gain a degree but haven’t provided funding.
Sending a team of disabled pupils to participate in the National Junior Paralympic Games.

Frensham Sailability

Partner Total - £10,000

Frensham Pond Sailing Club offers both competitive and leisure sailing opportunities for all ages and is a perfect example of inclusivity. To illustrate this, running alongside their mainstream sessions, Sailability, offers people, who because of a long-term illness or disability, support to learn and enjoy sailing. There is a range of sailing available from therapeutic to competitive sailing all within a safe, caring, and social environment. Their supportive and experienced team creates the perfect combination of building confidence whilst challenging individuals to push themselves learning new skills and developing both inside and outside the boat.

Boat Maintenance & Entries - £5,000 - maintain their main fleet of 13 303 dinghies and to facilitate their entry into the National championship series which they’ve won for the last 5 years. Next season’s funding - £5,000

LEO LION FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

D Gerring

Partner Total - £10,000

Debbie Gerring was brought on as a consultant, working alongside the senior leadership team at Undershaw to move the school on its journey of improvement to Outstanding. The focus this year has been on embedding a new curriculum and improving the mental health and well-being provision for all members of the school community. Debbie worked directly with the Headteacher and Senior Leaders to re-shape the staff team to include a lead for pastoral care and introduce learning mentors. The impact of this has significantly reduced challenging behaviour incidents, leading to a calmer, more focused school. Exclusion figures are down and this in turn has led to students being able to seize learning opportunities provided by staff who can concentrate on removing barriers to learning for all. The attainment results at Undershaw for the Yr 11 and 12 leavers exceeded initial predictions and staff turnover was also reduced. Debbie has also undertaken CPD with senior staff to help them reflect and work together as a unit and has worked with Governors to reshape the Articles of Association to be fit for purpose in the light of recent change. This was an important piece of work to increase the independence and autonomy of the school.

Cotton Comfort

Partner Total - £10,000

The company provides clothing that is specially designed for children and adults who suffer with eczema. With this grant they connected with the Eczema Outreach Support charity, who rely solely on donations and grants. They have donated 1,000 of their specially designed t-shirt with mittens attached to the EOS charity so that they can include one in every welcome pack for each new member to receive. The focus is on supporting families who were struggling financially in helping to access their products.

Disability Initiative

Partner Total - £10,000

Disability Initiative is an established charity that specialises in the provision of disability services to adults with physical disabilities and /or acquired brain injury. Their mission is to offer opportunities and support to individuals to enable them to realise their potential and aspire to their chosen goals.

Operating in Surrey and Hampshire their programmes have been hugely beneficial to individuals with disabilities but during the process, they also identified an additional group who have a very important role but are often lacking support themselves. For those acting as informal carers (often friends, families or loved ones) the role of a carer can be difficult, often juggling work commitments whilst trying to do their best for those they care for.

Funding the Carers Programmes - The sessions run bi-monthly by Lucy and two other members of staff and are free to attend for any carer who doesn’t do it as their main profession. Calling on favours from contacts, including Bank Managers, Dieticians, Sculptors, Singing Coaches, and others, they managed to test and evaluate the benefits of the group with minimal costs. As the popularity and demand for the sessions have increased, small donations have come in enabling term to develop and to continue to fund the sessions.

Rosemary Foundation Hospice

Partner Total - £10,000

The Rosemary Foundation was founded in 1997 by a group of dedicated former staff members of the Bordean House palliative care unit, to provide a ‘Hospice at Home’ service for patients suffering from cancer and other life-limiting illnesses.

Patients who are end of life want to spend their remaining time surrounded by family at home and not go into hospital or a care home. The funds were used to fund the nurses in providing care for patients and families in their home environment.

LEO LION FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

FINANCIAL REVIEW

Financial position

The net income for the year was £2,109,471. (2023: net income - £1,703,241).

The mainstream donations were £2,881,747 (2023: £2,846,075) and expenditure totalled £1,169,780. (2023: £1,330,329). The components of expenditure were similar to the previous year.

Principal funding sources

The principal funding source for the year is Mr Larry Sullivan who contributed £2,306,000. The charity does not raise funds from the public.

Investment policy and objectives

The general investment policy is to make investments in social enterprise companies that will grow and provide future income to the charity.

Reserves policy

The group aims to maintain reserves at the level set last year, being approximately £1.3 million.

At 31 March 2024, the group had reserves of £5,202,962 (2023: £3,093,491), which were all held as unrestricted funds. Of these funds, £3,287,208 (2023: £784,758) comprises tangible fixed assets, investment property and other investments. The group’s free reserves at 31 March 2024 were therefore £1,915,754 (2023: £2,308,733), which comfortably exceeds the target level set.

FUTURE PLANS

Leo Lion Foundation's purpose is to be a force for good. We do this by engaging and influencing others to think differently about business and social justice, by encouraging social enterprise and by supporting sustainable international development programmes. The foundation is continuing to take further interest in supporting social enterprises, and inspiring and encouraging other businesses to do the same. Over the coming years we will continue to directly support and benefit from the Cookie Bar, Pathways Education and Free Bird Films. All of these businesses are social enterprises which are tithing shares to the Foundation and are committed to giving back a proportion of their profits back to the Foundation. In turn this will allow Leo Lion Foundation to continue to support projects in the UK and overseas.

At Leo Lion Foundation we are also developing a business strategy to secure shareholding in viable commercial businesses therefore ensuring its own sustainability. Today, this includes interests in Bluebird Care [S.H.& B. Limited] [ www.bluebirdcare.co.uk.] We plan that these will increase over time.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Recruitment and appointment of new trustees

In selecting individuals for appointment as trustees, the trustees have regard to the skills, knowledge and experience needed for the effective administration of the charity. The trustees keep a record of the name and address and dates of appointment, re-appointment and retirement of each trustee. There must be at least 3 trustees.

Trustees, with the exception of the Life President, are elected to serve for a term of 3 years by a resolution of the trustees passed at a special meeting which may immediately precede or follow an ordinary meeting. Trustees, whose third anniversary is reached, shall retire from office at the Annual General Meeting. Those retiring trustees shall be eligible for re-election.

LEO LION FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Decision making process

Trustees meet on a quarterly basis to review:

Strategy and direction
Active grants and project progress
Supporting activities
Grant submissions

A full financial review of committed and forecasted funds is also undertaken.

Induction and training of new trustees

New Trustees are provided with the information that they need to carry out their role including:

i) A statement of the Leo Lion Foundations Vision and Mission

ii) The most recent annual report and accounts

iii) The current strategic and operational plans

iv) Memorandum and Articles of Association

v) Links to the Charity Commission booklets on 'The Essential Trustee: What you need to know' (CC3) and 'Hallmarks of an Effective Charity' (CC60);

vii) Links to Good Governance: A Code for the Voluntary and Community Sectors;

viii) Links to the Companies House booklet on 'Directors and Secretaries Guide'

ix) Job description for Trustees

x) Code of conduct for Trustees

xi) Copies of policies (Health and Safety, Equality and Diversity, Reserves, Expenses policy) xii) Organisational Structure xiii) List of trustees, patrons and staff roles and responsibilities and contact details xiv) Annual list of dates of board meetings, annual general meetings, away days

New Trustees spend time with the Life President, Chair and trustees to discuss their role and responsibilities. This gives an opportunity to answer any questions and clarify any of the written information supplied. New trustees will be offered the opportunity to link with a more experienced trustee for advice and support. Away Days provide an opportunity for extended discussion and learning. The programme for an Away Day is tailored to the requirements of Trustees and of the charity. Away days can involve senior staff or may be held exclusively for Trustees.

The Life President ensures that Trustees are kept up to date in developments in Charity through quarterly trustees’ meetings and other day to day updates.

Larry Sullivan - Trustee

Larry Sullivan founder is Life President of the Leo Lion Foundation. Larry leads the overall vision, strategy and direction of the Leo Lion Foundation, representing the charity at appropriate events. Other Charity Experience: Former Trustee CSB Self Help / Hemiplegia Organisation, Trustee Stepping Stones School and Board Member Habitat for Humanity UK.

Jo Pickford - Trustee

Jo Pickford provides executive direction and support to the Leo Lion Foundation social enterprises. Jo supports the decision making of the Foundation and ensuring it is well run and solvent. Other Charity Experience: Former Trustee CSB Self Help / Hemiplegia Organisation and Trustee/Co-Chair of Governors Stepping Stones School.

Robert Brown - Trustee

Robert Brown is CEO of Construction Industry Solutions Ltd (COINS) from which, the Leo Lion Foundation bore its former name. Robert is responsible for managing the connection between COINS commercial operations and the Leo Lion Foundation along with the branding and market positioning of the Leo Lion Foundation.

LEO LION FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Jake Hatt - Trustee

Jake is a dynamic, young entrepreneur who will contribute both millennial perspective and energy to the Leo Lion Foundation team. Jake is the CEO of Free Bird Film, a social enterprise video production company with a strong social agenda. Free Bird Film hold an annual film festival that celebrates and showcases diverse and under-represented filmmakers from around the world. Jake holds a first-class honours degree in English Literature from Oxford University.

Patrons

Professor Paul Collier CBE

Professor Collier is a Professor of Economics, Director for the Centre for the Study of African Economies at The University of Oxford and Fellow of St Antony's College. He has also been the director of the Development Research Group of the World Bank.

Professor Collier has published profound books including: The Bottom Billion, The Future of Capitalism and Greed is dead which have influenced our thinking.

Rt. Hon Jeremy Hunt MP

Jeremy Hunt is a Member of Parliament for South West Surrey since 2015. He served in cabinets from 2010 to date, most recently as Chancellor of the Exchequer from October 2022 – July 2024.

Remuneration arrangements for key management personnel

The trustees consider themselves to be the key management of the charity and group. None of the trustees receive remuneration from the group.

LEO LION FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

TRUSTEES’ RESPONSIBILITIES STATEMENT

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP 2019 (FRS 102);
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on ………………… and signed on its behalf by: ppryes by order of the board of trustees on wal | ifCS. and signed on its behalf by: ……………………………….. J Pickford – Trustee J Pickford — Trustee

LEO LION FOUNDATION

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF LEO LION FOUNDATION FOR THE YEAR ENDED 31 MARCH 2024

Opinion

We have audited the financial statements of Leo Lion Foundation (the ‘parent charity’) and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Group Statement of Cashflows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the groups and parent charity’s affairs as at 31 March 2024, and of the group's incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed; we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Report of the Trustees, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained 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 material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

the information given in the trustees' report is inconsistent in any material respect with the financial statements; or
sufficient accounting records have not been kept; or

LEO LION FOUNDATION

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF LEO LION FOUNDATION FOR THE YEAR ENDED 31 MARCH 2024

the financial statements are not in agreement with the accounting records; or
we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 13 the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charity or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

We have been appointed as auditor under section 1513 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
Reviewing minutes of meetings of those charged with governance
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias

LEO LION FOUNDATION

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF LEO LION FOUNDATION FOR THE YEAR ENDED 31 MARCH 2024

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Other matters

Without qualifying our opinion, we draw attention to the fact the comparative information included in the financial statements is unaudited.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, or this report, or for the opinions we have formed.

…………………………………………………………….

Azets Audit Services Statutory Auditor & Chartered Accountants Egham

Date:……………………………. 22 January 2025

LEO LION FOUNDATION

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Note Income and endowments from: Donations and legacies 2 Other trading activities 3 Gain on disposal of subsidiary Investments 4 Total income and endowments Expenditure on: Raising funds 5 Charitable activities 6 Other trading activities 10 Share of loss from associated undertakings Total expenditure Net income Reconciliation of funds: Total funds brought forward 21 Total funds carried forward 21	2024 Unrestricted funds Continuing Operations £ Discontinued Operations £ Total £ 2,881,747 - 2,881,747 - 110,045 110,045 - 219,394 219,394 68,065 - 68,065 2,949,812 329,439 3,279,251 - - - 904,744 - 904,744 - 219,924 219,924 45,112 - 45,112 949,856 219,924 1,169,780 1,999,956 109,515 2,109,471 3,203,006 (109,515) 3,093,491 5,202,962 - 5,202,962	2023 Unrestricted funds Continuing Operations £ Discontinued Operations £ Total £ 2,846,075 - 2,846,075 - 125,566 125,566 - - - 61,929 - 61,929
		2,908,004 125,566 3,033,570 35,723 - 35,723 1,076,121 - 1,076,121 - 218,485 218,485 - - -
		1,111,844 218,485 1,330,329
		1,796,160 (92,919) 1,703,241 1,406,846 (16,596) 1,390,250
		3,203,006 (109,515) 3,093,491

The statement of financial activities includes all gains and losses recognised during the year.

LEO LION FOUNDATION (formerly COINS FOUNDATION)

CONSOLIDATED BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024

CONSOLIDATED BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024
		2024	2023
	Note	£	£
Fixed assets
Tangible assets	14	-	363,626
Investment property	15	3,154,609	243,421
Investments	16	132,599	177,711
		3,287,208	784,758
Current assets
Stocks	17	-	9,019
Debtors	18	1,238,333	1,956,070
Cash at bank and in hand		843,639	777,258
		2,081,972	2,742,347
Creditors: amounts falling due within one year	19	(120,218)	(343,347)
Net current assets		1,961,754	2,399,000
Total assets less current liabilities		5,248,962	3,183,758
Creditors: amounts falling due after more than one	20	(46,000)	(90,267)
year
Net assets		5,202,962	3,093,491
Charity Funds
Unrestricted funds	21	5,202,962	3,093,491
Total charity funds	21	5,202,962	3,093,491

The financial statements were approved and authorised for issue by the Board on ………………………. 2024. The financial statements were approved and authorised for issue by the Board on ed. \ wh. | .. 2024,

Signed on behalf of the board of trustees Signed ohbehalf of the board of trustees

……………………………………………………. J Pickford - Trustee J Pickfofd - Tréstee

The notes on pages 24.to 38 form part of these financial statements. The notes on pages 24.to 38 form part of these financial statements.

LEO LION FOUNDATION (formerly COINS FOUNDATION)

CHARITY BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024

CHARITY BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024
		2024	2023
	Note	£	£
Fixed assets
Tangible fixed assets	14	-	273,407
Investment property	15	3,154,609	243,421
Investments	16	21,433	21,443
		3,176,042	538,271
Current assets
Debtors	18	1,238,333	1,952,533
Cash at bank and in hand		843,639	774,469
		2,081,972	2,727,002
Creditors: amounts falling due within one year	19	(120,218)	(218,534)
Net current assets		1,961,754	2,508,468
Creditors: amounts falling due after more than one	20	(46,000)	-
year
Net assets		5,091,796	3,046,739
Charity Funds
Unrestricted funds	21	5,091,796	3,046,739
Total charity funds	21	5,091,796	3,046,739

The financial statements were approved and authorised for issue by the Board on ……………..……..2024. The financial statements were approved and authorised for issue by the Board on rAY a - wt. 2026

Signed on behalf of the board of trustees saneda behalf of the board of trustees:

……………………………………………………. J Pickford - Trustee J Picklo ~ Trustee

The notes on pages 24 to 38 form part of these financial statements. The notes on pages 24 to 38 form part of these financial statements.

LEO LION FOUNDATION (formerly COINS FOUNDATION)

GROUP STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2024

Note Cash flow from operating activities 22 Net cash flow from operating activities Cash flow from investing activities , Payments to acquire PPE Receipts on disposal of PPE Payments to acquire investment property Receipts from sale of shares in subsidiary Cash removed on disposal of subsidiary Investment income Dividends received Net cash flow from investing activities Cash flow from financing activities Interest paid Net cash flow from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at 1 April 2023 Cash and cash equivalents at 31 March 2024 Cash and cash equivalents consists of: Cash at bank and in hand Cash and cash equivalents at 31 March 2024 Analysis of net debt: 1 April Cash 2023 flows £ £ Cash at bank and in hand 777,258 75,645 Loans falling due within one year (6,500) - Loans falling due after more than one year (14,083) - 756,675 75,645	2024 £ 2,640,545 2,640,545 - 4,716 (2,637,781) 100 (9,264) 68,065 - (2,574,164) - - 66,381 777,258 843,639 843,639 843,639 Disposal of subsidiary £ (9,264) 6,500 14,083	2023 £ 461,627 461,627 (16,755) - 798 - 488 4,912 (10,557) (1,199) (1,199) 449,871 327,387 777,258 777,258 777,258 31 March 2024 £ 843,639 - -









756,675 75,645	11,319	843,639

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Summary of significant accounting policies

(a) General information and basis of preparation

Leo Lion Foundation is an unincorporated trust, registered in England and Wales. The address of the registered office is given in the charity information on page 3 of these financial statements. The nature of the charity’s operations and principal activities are given in the Trustees’ Report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably, and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees’ Annual Report.

Income from trading activities includes income earned through the charity’ subsidiary, Inclusive Enterprises Limited. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Costs of raising funds includes staff costs; and
Expenditure on charitable activities includes grants awarded and associated support costs.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

(e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings, they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

The analysis of these costs is included in note 8.

(h) Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery 25% reducing balance Fixtures and fittings 25% reducing balance Motor vehicles 10 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to profit or loss.

(j) Investment properties

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the Statement of Financial Activities.

(k) Investments

Investments held as fixed assets are measured at cost less impairment.

Investments in associates are recognised using the equity method. The investment is initially recognised at cost and subsequently adjusted through the Consolidated Statement of Financial Activities to reflect the Foundation’s share of the associate’s results.

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

(l) Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

(m) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(n) Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

(q) Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

(r) Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

(s) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(t) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves for the charity to be able to continue as a going concern. In addition, Leo Lion Foundation have disposed their loss making trading subsidiary, Inclusive Enterprises Limited.

(u) Judgements and key sources of estimation uncertainty

There are no material judgements made by trustees in the preparation of these financial statements.

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

(u) Judgements and key sources of estimation uncertainty (continued)

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:

The freehold property owned by the charity is a mixed use asset, which is carried at valuation in the financial statements. Further details are given in note 15.

2 Income from donations

2024 £ Donations 2,881,747 Donated services - 2,881,747 Donated services are salary costs incurred by Pathways Education Limited. 3 Income from other trading activities 2024 £ Cookie Bar revenues 91,049 Royalty income 18,996 110,045 4 Income from investments 2024 £ Share of profits from associate undertakings - Interest Received 54,265 Rental income 13,800 Dividends Received - 68,065 5 Expenditure on raising funds 2024 £ Staff costs -	2023 £ 2,788,009 58,066
	2,846,075
	2023 £ 91,550 34,016
	125,566
	2023 £ 56,529 488 - 4,912
	61,929
	2023 £ 35,723

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

6 Analysis of expenditure on charitable activities

Charitable activities 2024 Note Project Partners 7 Other Beneficiaries 7 Governance Costs Charitable activities 2023 Project Partners 7 Other Beneficiaries 7 Governance Costs	Grants awarded Support costs Total 2024 2024 2024 £ £ £ 433,593 5,687 439,280 439,723 - 439,723 - 25,742 25,742
	873,316 31,429 904,745
	Grants awarded Support costs Total 2023 2023 2023 £ £ £ 747,977 73,259 821,236 232,552 - 232,552 - 22,333 22,333
	980,529 95,592 1,076,121

7 Grants awarded

rants awarded
Peas Habitat for Humanity GB Warwick Business School Sunbeams Design and Technology Association Widad Wynyard Sailability Ripon Satro Disability Challengers Marcos Alegria SEDCU Frensham DGerring Cotton Comfort Disability Initiative Rosemary Foundation Suzie Songtime Harvey Monz Jim Barry VR Therapies Tessa Peirce HYF Joe Shaw Athena Coaching Carried forward	Project Partners Other Grants Total Total 2024 2024 2024 2023 £ £ £ £ 275,463 - 275,463 447,877 100,000 - 100,000 150,000 - 100,000 100,000 50,000 - 75,000 75,000 10,000 - 63,000 63,000 - 58,130 - 58,130 - - 25,322 25,322 - - 20,000 20,000 - - 20,000 20,000 10,000 - 18,250 18,250 21,410 - 18,000 18,000 - - 10,500 10,500 - - 10,000 10,000 - - 10,000 10,000 5,000 - 10,000 10,000 - - 10,000 10,000 - - 10,000 10,000 - - 6,615 6,615 6,948 - 6,000 6,000 - - 5,000 5,000 - - 4,978 4,978 10,000 - 4,350 4,350 - - 4,500 4,500 - - 2,808 2,808 - - 2,500 2,500 7,500
	433,593 436,823 870,416 718,735

rants awarded

Peas
Habitat for Humanity GB
Warwick Business School
Sunbeams
Design and Technology Association
Widad
Wynyard Sailability
Ripon
Satro
Disability Challengers
Marcos Alegria
SEDCU
Frensham
DGerring
Cotton Comfort
Disability Initiative
Rosemary Foundation
Suzie Songtime
Harvey Monz
Jim Barry
VR Therapies
Tessa Peirce
HYF
Joe Shaw
Athena Coaching
Carried forward

Project Partners
Other Grants
Total
Total
2024
2024
2024
2023
£
£
£
£
275,463
-
275,463
447,877
100,000
-
100,000
150,000
-
100,000
100,000
50,000
-
75,000
75,000
10,000
-
63,000
63,000
-
58,130
-
58,130
-
-
25,322
25,322
-
-
20,000
20,000
-
-
20,000
20,000
10,000
-
18,250
18,250
21,410
-
18,000
18,000
-
-
10,500
10,500
-
-
10,000
10,000
-
-
10,000
10,000
5,000
-
10,000
10,000
-
-
10,000
10,000
-
-
10,000
10,000
-
-
6,615
6,615
6,948
-
6,000
6,000
-
-
5,000
5,000
-
-
4,978
4,978
10,000
-
4,350
4,350
-
-
4,500
4,500
-
-
2,808
2,808
-
-
2,500
2,500
7,500

433,593
436,823
870,416
718,735

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7 Grants awarded (continued)

Brought forward Miscellaneous support Undershaw Education Trust Royal Surrey Hospital DFN Project Search Texas University Himalayan Youth Foundation Green Skills Oxford Discovery College Mozambique Farm Equipment Ukraine Food Music Therapy Letras Mexico Filming Uganda Community Foundation Surrey Youth College Oxford Nyumbai	Project Partners Other Grants Total Total 2024 2024 2024 2023 £ £ £ £ 433,593 436,823 870,416 718,735 - 2,900 2,900 1,000 - - - 30,912 - - - 50,100 - - - 100,000 - - - 17,916 - - - 11,392 - - - 10,000 - - - - 10,000 8,275 - - - 5,200 4,500 - - - 4,167 - - - 3,132 - - - 2,500 - - - 1,500 - - - 1,200
	433,593 439,723 873,316 980,529

Further details of the projects funded are given in the trustees’ report.

8 Support costs

upport costs
Staff costs Property costs Investment impairment Governance costs Filming Marketing Miscellaneous Total	2024 2023 £ £ - 13,654 1,538 10,882 750 48,723 25,742 22,333 2,672 - 242 - 485 -
	31,429 95,592

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9 Governance costs

Staff costs Bank charges and interests Accountant fees Auditor’s remuneration: - Audit fees (current year) - Non-audit fees (current year) - Audit fees (prior year) - Non-audit fees (prior year) Insurance (Management Liability/Building)	2024 2023 £ £ - 8,689 189 111 338 (2,715) 13,900 2,030 2,470 2,322 14,000 - - - 4,493 2,248
	25,742 22,333

10 Analysis of expenditure on trading activities

Direct costs Staff costs Overheads Management Charges Bank Loan Interest	Total Total 2024 2023 £ £ 55,934 52,031 96,281 75,352 67,709 81,291 - 8,612 - 1,199
	219,924 218,485

11 Auditor’s remuneration

The auditor’s remuneration is analysed in note 9 above.

12 Trustees' and key management personnel remuneration and expenses

The trustees neither received nor waived any remuneration during the year (2023: £Nil)

The total amount of employee benefits received by key management personnel is £Nil (2023 - £Nil). The trustees considers themselves to be the key management personnel of the charity.

The trustees did not have any expenses reimbursed during the year (2023 - £Nil).

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

13 Staff costs and employee benefits

The group does not employ any staff and therefore no wages and salary costs were incurred directly by the group. The following costs are in respect of donated services.

2024 2023 £ £ 89,814 118,878 5,112 10,510 1,355 4,030 96,281 133,418 Land and Buildings Fixtures and fittings Motor vehicles Plant and machinery Total £ £ £ £ £ 273,407 9,167 152,922 51,310 486,806 - 1,790 - - 1,790 (273,407) - - - (273,407) - (10,957) (152,922) (51,310) (215,189)	2024 2023 £ £ 89,814 118,878 5,112 10,510 1,355 4,030 96,281 133,418 Land and Buildings Fixtures and fittings Motor vehicles Plant and machinery Total £ £ £ £ £ 273,407 9,167 152,922 51,310 486,806 - 1,790 - - 1,790 (273,407) - - - (273,407) - (10,957) (152,922) (51,310) (215,189)	2024 2023 £ £ 89,814 118,878 5,112 10,510 1,355 4,030 96,281 133,418 Land and Buildings Fixtures and fittings Motor vehicles Plant and machinery Total £ £ £ £ £ 273,407 9,167 152,922 51,310 486,806 - 1,790 - - 1,790 (273,407) - - - (273,407) - (10,957) (152,922) (51,310) (215,189)
- - -		- -
- 6,215 80,509 - 13,116 14,553 - (19,331) (95,062)		36,456 123,180 - 27,669 (36,456) (150,849)
- - -		- -
- - -		- -
273,407 2,952 72,413		14,854 363,626
	31 Land and buildings Total £ £ 273,407 273,407 (273,407) (273,407) 273,407 273,407 - - - - 273,407 273,407

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

14 Tangible fixed assets (continued)

The net book value of land and buildings comprised:

Group and charity	2024	2023
	£	£
Freehold buildings	-	273,407

The charity owns a property in Hindhead, Surrey. The ground floor of the property is a retail unit used by the subsidiary company, Inclusive Enterprises Limited (IEL), to house its Cookie Bar operations. The first floor is leased to a non-group company. As such, the trustees have historically allocated the valuation of the property between tangible fixed assets and investment properties.

On disposal of the shareholding in IEL on 24 March 2024, the nature of ground floor unit changed to that of an investment property. A transfer has been made to recognise this change.

The property in Hindhead, Surrey was valued in January 2022 by Vail Williams LLP, using the comparable method of valuation. The trustees have chosen to use the relative rental values of the two floors as a basis for allocating the property value.

15 Investment Property

Group and charity

Valuation At 1 April 2023 Additions in the year Transfer from tangible fixed assets (note 14) At 31 March 2024	£ 243,421 2,637,781 273,407
	3,154,609

The property in Hindhead, Surrey was valued in January 2022 by Vail Williams LLP, using the comparable method of valuation.

The charity acquired Quarry farm in Empshott, Hampshire in February 2024. The trustees consider the acquisition costs to be the fair value of the site at year end.

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16 Fixed asset investments

Group Cost or valuation At 1 April 2023 Share of loss from associated undertakings At 31 March 2024 Impairment At 1 April 2023 and 31 March 2024 Carrying amount: At 31 March 2024 At 31 March 2023 Charity Cost At 1 April 2023 Disposals Reclassification At 31 March 2024 Impairment At 1 April 2023 and 31 March 2024 Carrying amount: At 31 March 2024 At 31 March 2023	Share in group undertaking Investments in associates £ £ 100 156,333 - (45,112)		Unlisted investments Total £ £ 70,001 226,434 - (45,112) 70,001 181,322 48,723 48,723 21,278 132,599 21,278 177,711 Unlisted investments Total £ £ 70,056 70,166 - (55) (10) -
	100 111,221
	- -
	100 111,221
	100 156,333
	Shares in group undertaking Investments in associates £ £ 110 - (10) - - 55
	100 55		70,001 70,156
	- -		48,723 48,723
	100 55		21,278 21,433
	110 -		21,333 21,443

Charity

Charity
Subsidiary - Disposal of Inclusive Enterprises Limited (IEL)
On 25 March 2024, Leo Lion Foundation sold its entire shareholding in IEL, for consideration of £100.
Details of the net liabilities disposed of are below:
	Total
	£
Tangible fixed assets	57,833
Stock	9,161
Trade and other debtors	5,813
Cash at bank and in hand	9,264
Trade and other creditors	(301,465)
	(219,394)

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16 Fixed asset investments (continued)

Charity and Group

Subsidiary

£100 represents a 99% holding in a Ugandan business, COINS Inclusive Enterprises (Uganda) Limited, that aims to install a solar power system in a PEAS school in Uganda. This company is dormant.

Associates

£55 represents a 46.2% holding in Free Bird Film Limited, a UK based media production company. During the year to 31 March 2024, Free Bird Film Limited made a loss of £76,534 (2023: profit of £118,985). The aggregate of Free Bird Film Limited's capital and reserves at 31 March 2024 was £248,153 (2023: £321,443).

On 20 January 2023, the charity acquired a 40% holding in Pathways Education Limited, for £Nil consideration. Pathways Education Limited prepares financial statements to 31 August each year. The latest results of the company, to 31 August 2023, reported a loss of £338,740 (2022: loss of £351,253) and aggregate capital and reserves of £(795,284) (2022: £(456,544)).

Other investments

£70,000 represents a 18.5% holding in SH&B Limited, trading as Bluebird Care (Hambleton and Richmondshire), part of the Bluebird Care franchise that aims to bring quality care to vulnerable adults in their own home.

£1 (2023: £1) represents a 10% holding in a Spanish business, NanoFab, that manufactures solar power installations. This is consistent with the Foundation's goal to install a solar power system in a PEAS school in Uganda.

17 Stock Group

Café stock 18 Debtors Group Trade debtors Other debtors Accrued income Prepayments Charity Amounts owed by group undertakings Other debtors Accrued income Prepayments	2024 £ - 2024 £ - 233,333 1,000,000 5,000 1,238,333 2024 £ - 233,333 1,000,000 5,000 1,238,333	2023 £ 9,019
		2023 £ 207 451,783 1,500,000 4,080
		1,956,070
		2023 £ 750 451,783 1,500,000 -
		1,952,533

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18 Debtors (continued)

Other debtors includes £133,333 (2023 £233,333) falling due after one year. Accrued income includes £0.5 million (2023: £1 million) falling due after one year.

19 Creditors: amounts falling due within one year

Group Trade creditors Grant commitments payable Other tax and social security Loans and borrowings Accruals and deferred income Other creditors Charity Accruals for grants payable Other accruals and deferred income 20 Creditors: amounts falling due after more than one year Group Loans and borrowings Deferred income Grant commitments payable Charity Grant commitments payable	2024 £ - 100,500 - - 19,718 - 120,218 2024 £ 100,500 19,718 120,218 2024 £ - - 46,000 46,000 2024 £ 46,000 46,000	2023 £ 4,955 193,652 (10) 6,500 46,079 92,171
		343,347
		2023 £ 193,652 24,882
		218,534
		2023 £ 14,083 76,184 -
		90,267
		2023 £ -
		-

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

21 Funds

Unrestricted funds - group

		Balance at	Balance at			Balance at
		1	April	Income	Expenditure	31 March
			2023			2024
			£	£	£	£
	General funds	3,093,491		3,279,251	(1,169,780)	5,202,962
		Balance at				Balance at
		1	April	Income	Expenditure	31 March
			2022			2023
			£	£	£	£
	General funds	1,390,250		3,033,570	(1,330,329)	3,093,491
	Unrestricted funds - charity
		Balance at				Balance at
		1	April	Income	Expenditure	31 March
			2023			2024
			£	£	£	£
	General funds	3,046,739		2,949,812	(904,755)	5,091,796
		Balance at				Balance at
		1	April	Income	Expenditure	31 March
			2022			2023
			£	£	£	£
	General funds	1,307,108		2,851,475	(1,111,844)	3,046,739
22	Reconciliation of net income to net cash	flow from operating activities
					2024	2023
					£	£
	Net income for year				2,109,471	1,703,241
	Dividends received				-	(4,912)
	Profit on disposal of subsidiary				(219,494)	-
	Investment income				(68,065)	(488)
	Interest payable				-	1,199
	Depreciation and impairment of tangible fixed assets				27,669	30,647
	Impairment of unlisted investments				-	48,723
	Share of loss/(profit) from associate undertakings				45,112	(56,529)
	(Profit) / Losses on disposal of tangible fixed assets				-	7,069
	Increase in stock				(142)	(2,615)
	Decrease / (increase) in debtors				711,926	(1,452,688)
	Increase in creditors				34,068	187,980
	Net cash flow from operating activities				2,640,545	461,627

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

23 Related party transactions

Income transactions

During the year, trustees made unrestricted donations totalling £2,306,000 (2023: £374,106) to Leo Lion Foundation.

During the year, the group received donations totalling £nil (2023: £176,432) from Construction Industry Solutions, a company formerly controlled by L Sullivan.

As at 31 March 2024, Undershaw Education Trust owed Leo Lion Foundation £233,333 (2023: £333,333). J Pickford is a trustee of Undershaw Education Trust. This loan is interest free and the remaining balance is being repaid over 2.5 years.

Expenditure transactions

During the year, Leo Lion Foundation awarded the following grants to connected companies:

£nil (2023: £30,912) to Undershaw Education Trust. J Pickford is a trustee of Undershaw Education Trust.
£100,000 (2023: £150,000) to Habitat for Humanity Great Britain (HFHGB). R Brown is a trustee of HFHGB.
£18,250 (2023: 21,410) to Disability Challengers. J Hatt is a trustee of Disability Challengers.

No amounts were outstanding at 31 March 2024 (2023: none).

During the year, the group recognised a share of losses of £45,112 (2023: profit share of £56,529) from Freebird Film Limited. J Hatt, J Pickford and L Sullivan are directors of Freebird Film.

24 Rental income leases

The charity is due to receive the following future minimum lease receipts under non-cancellable rental leases for each of the following periods:

Within one year Between two and five years	2024 £ 21,667 18,000 39,667	2023 £ 21,667 39,267
		60,934

25 Financial instruments

The carrying amounts of the charity’s financial instruments measured at fair value through net income are as follows:

Financial assets Measured at fair value through net income: - Investment property (note 16)	2024 £ 2,881,202 2,881,202	2023 £ 243,421
		243,421

LEO LION FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

25 Financial instruments (continued)

The income, expenses, net gains and net losses attributable the charity’s financial instruments are summarised as follows:

	2024	2023
	£	£
Income and expense
Financial assets measured at amortised cost – investment income	68,065	61,929
Financial assets measured at amortised cost – impairment of fixed
asset investment	-	48,723