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2021-04-05-accounts

Charity No. 1125024

Trustees’ Report & Annual Accounts

For the year ended 5 April 2022

The Lyndal Tree Foundation Contents

Contents

Page

Trustees’ Report for the Year Ending 5th April 2022 ...................................................... 1 Trustees’ Report for the Year Ending 5th April 2022 ...................................................... 1
Introduction & Executive Summary ............................................................................................. 1
a) Reference and Administrative Details of the Charity .......................................................... 2
b) Structure, Governance and Management ........................................................................... 3
c) Objectives & Activities ........................................................................................................ 4
d) Achievements & Performances .......................................................................................... 5
e) Financial Review ................................................................................................................ 8
f) Investment Policy & Review ............................................................................................... 8
g) Grantmaking Strategy ......................................................................................................... 9
h) Reserves Policy ................................................................................................................ 10
i) Plans for Future Periods ................................................................................................... 10
j) Trustee Remuneration ...................................................................................................... 11
k) Taxation ............................................................................................................................ 11
Statement of Trustees’ Responsibilities ....................................................................... 12
Independent Examiner’s Report .................................................................................... 13
Statement of Financial Activities................................................................................... 14
Balance Sheet ................................................................................................................. 15
Notes to the Financial Statements ................................................................................ 16
1 Accounting policies ........................................................................................................... 16
(a) Basis of preparation of financial statements and assessment of going concern ............... 16
(b) Incoming resources - charitable activities ......................................................................... 16
(c) Expenditure and Liabilities ................................................................................................ 16
(d) Investments ...................................................................................................................... 17
(e) Debtors ............................................................................................................................. 17
(f) Financial instruments ........................................................................................................ 17
(g) Fund accounting ............................................................................................................... 17
(h) Critical accounting polic`ies and key sources of estimate uncertainty .............................. 17
2 Investment income ........................................................................................................... 18
3 Investment management costs ......................................................................................... 18
4 Analysis of charitable expenditure .................................................................................... 18
5 Net income/(expenditure) for the year .............................................................................. 19
6 Investments ...................................................................................................................... 19
7 Debtors ............................................................................................................................. 19
8 Cash at bank and in hand ................................................................................................. 20
9 Current liabilities ............................................................................................................... 20
10 Analysis of funds .............................................................................................................. 20
11 Related party transactions ................................................................................................ 21
12 Financial instruments ........................................................................................................ 21
13 Comparative Statement of Financial Activities ................................................................. 22

The Lyndal Tree Foundation Trustees’ Report For the Year Ended 5 April 2022

Trustees’ Report for the Year Ending 5[th] April 2022

Introduction & Executive Summary

This year has been dominated by the Covid-19 pandemic which, at this stage last year, few of us were expecting to be as world changing as it has been, it has affected all corners of society with many charities facing particularly tough challenges.

Yet, the charities we encounter never fail to impress us with how they are able to care and support people who are often experiencing the most difficult of circumstances. This year their ability to support people has been tested to the limit with their physical ability to operate as usual, a greater demand for help, and a squeeze on finances. Yet the determination, commitment and resourcefulness they have is clear. Many have had to change their models of working and pioneered new ways of supporting people’s physical and mental well-being. For us, the pandemic has caused a heightened sense of care towards the charities we have supported long term.

We have increased our grant making to charities this year to £139,000.

As we enter a new year, there are signs of some normality returning, we hope in time to be able to re-establish face to face visits. In the meantime, we send our warm wishes to all the charities we support.

We also like to take this opportunity to extend our thanks and best wishes to Jonathan Wood, our accountant, John David and the team at Rathbone Greenbank, WYCAS for their work with the independent examination, and to the team at Adam & Company Bank.

The trustees present their report and the financial statements for the period ended 5 April 2022, which 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 (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)) and the Charities Act 2011.

Kindest regards to you all,

Lynda Duttine Chair of the Lyndal Tree Foundation

Page 1

The Lyndal Tree Foundation Trustees’ Report For the Year Ended 5 April 2022

a) Reference and Administrative Details of the Charity

Name The Lyndal Tree Foundation Charity Number 1125024 Trustees Lynda Duttine (Chair) Sue Fidler Jennifer Brodie Steve Duttine Address PO Box 330 Ilkley LS29 1GD

Accountant Jonathan Wood Independent Examiner Simon Bostrom FCIE WYCAS West Yorkshire Community Accounting Service 34 Lupton St, Leeds LS10 2QW

Bankers Adam & Company 25 St Andrew Square Edinburgh EH2 1AF Investment Managers Rathbone Greenbank Investments 10 Queens Square Bristol BS1 4NT

Page 2

The Lyndal Tree Foundation Trustees’ Report (Continued) For the Year Ended 5 April 2022

b) Structure, Governance and Management

As of 5 April 2022, there have been no changes to the Foundation’s Structure, Governance and Management from that set up in year one apart from the change in investment managers which was concluded towards the end of the 2015-16 financial year, and the retirement of a Trustee, Antony Duttine.

Registration and Governing Document

The Lyndal Tree Foundation was established and registered with the Charities Commission in the summer of 2008 (13 May 2008 as amended 26 June 2008).

The Trust deed dated 13 May 2008, as amended 26 June 2008, stipulates the following:

“The trustees shall hold the capital and income of the trust fund upon trust to pay and apply the income, and all or such parts of the capital, at such times, in such manner and subject to such restrictions (if any) as the trustees think fit, for such charitable purposes for the benefit of the public as the trustees in their absolute discretion determine.”

Trustee Recruitment, Induction and Training

The Foundation is run by four trustees who undertake various roles in the organisation on a voluntary basis. There are no current plans to recruit any new trustees and there are no formal processes of induction of training of trustees at this time.

Lynda Duttine remains in the position of Chair of the Trustees, and has held this position since the launch of the Foundation. There are currently no plans to review this.

Steven Duttine continues to act as treasurer. He is the principal liaison for Adam & Co bank, Jonathan Wood, Rathbones, and the independent examiners.

The broad roles of the individual Trustees have remained largely unchanged; Lynda Duttine, Sue Fidler and Jennifer Brodie continue to deal mainly with the Foundation’s grant making and visits, whilst Steven Duttine works more with the Foundation’s financial organisation.

The Trustees take a particular interest in keeping in contact and visiting with charities (particularly those where the intention is to provide support more regularly than one-off grants). The visits are made at the discretion of the trustees and no expenses are sought from the Foundation.

Page 3

The Lyndal Tree Foundation Trustees’ Report (Continued) For the Year Ended 5 April 2022

Statement of Public Benefit

The Trustees of The Lyndal Tree Foundation confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Commission in exercising their powers or duties. The objectives and related activities set out in section (c) demonstrate this in more detail.

Organisational Relationships

The Lyndal Tree Foundation has engaged the organisations.

Risk Management

The Trustees currently consider the primary risk to the Foundation lies in its investment portfolio’s performance.

The Foundation’s capital has exposure to equity markets, both in the UK and overseas. Therefore, the portfolio manager’s performance alongside wider economic factors such as the performance of the markets’ and currency exchange rates, will impact the value of the Foundation’s investments. Since the capital’s growth and income is the primary source of the Foundation’s granting budget, these factors will have a bearing on the budget of the Foundation. This risk is present in both the short and long term.

To try and mitigate the risks raised by this, a number of steps have been taken:

• To reduce the short-term influence of the markets, the trustees hold a generous cash reserve, in order that grants intended for short term aren’t directly reliant on the current interest and capital growth produced.

• The trustees are also prepared for the Foundation’s capital to fluctuate. By separating the investment income from capital growth, the trustees have the option to continue making donations from income even if the Foundation makes a net loss.

c) Objectives & Activities

During the 2021-2022 reporting period, the objectives were:

Objective 1:

Retain capital surplus to one million pounds + CPI from founding date (2008)

Related Activities:

The Trustees have continued to increase the reserves level in line with inflation (CPI) this brings the reserve level to £1,423,956. At the close of this reporting period, the balance of the Foundation is £2,133,421 an increase of £43,424 from the balance brought forward.

Page 4

The Lyndal Tree Foundation Trustees’ Report (Continued) For the Year Ended 5 April 2022

----- Start of picture text -----
£2,500,000
£2,000,000
£1,500,000
£1,000,000
£500,000
£-
Grants Made Foundation’s Assets Reserve Policy (CPI Adjusted)
£375,600
£9,750 £23,600 £58,200 £70,674 £34,300 £76,029 £80,000 £193,311 £127,000 £163,927 £101,000 £121,617 £139,000
----- End of picture text -----

The Foundation’s assets sit at 49% above the reserve level, this compares to 60% last year. The Trustee’s note that provides a significant buffer, however, we are also aware global economies are all operating under unusual circumstances which may see further sharp downward volatility. It is also anticipated that grant making in the next year or two will be significantly above the organic level of income of the Foundation.

Objective 2:

Make grants amounting to >5% of the Foundation’s reserve level based on the 5[th] April 2021 figure, for grant making taking place between 5[th] April 2021 – 5[th] April 2022 this will be a figure surplus to £65,319.10

Related Activities:

The total gifted this year was £139,000, £78,608.90 over the 5% minimum threshold.

Objective 3:

Make grants to environmental charity/ies accounts of >20% (total amount granted rather than number of charities supported) for the reporting period.

Related Activities:

Grants totalling £28,000 were made to environmental organisations, this accounts to 20.14% of the amount granted.

d) Achievements & Performances

The activities prioritised for 2021/22 that have been achieved include:

Page 5

The Lyndal Tree Foundation Trustees’ Report (Continued) For the Year Ended 5 April 2022

Objectives relating to the next reporting year are discussed in ‘Plans for future periods’ under section (i).

Charitable Donations

The Foundation continues to support a wide range of organisations - eighteen received grants over the course of the year. The amount granted increased this year from £1121,617 to £139,000 – these grants take the total grants made to date to £1,574,008.

----- Start of picture text -----
£400,000
£350,000
£300,000
£250,000
£200,000
£150,000
£100,000
£50,000
£-
Grants Made
----- End of picture text -----

The organisations supported this year were all registered in the UK. The donations require, and received, the approval of three or more board members. Most of the organisations supported made written requests to the Foundation for consideration, others were approached by the Trustees and encouraged to submit a written request for consideration. In other cases, particularly with larger national charities, where good information is available on their structure and function, no written request has been sought.

Page 6

The Lyndal Tree Foundation Trustees’ Report (Continued) For the Year Ended 5 April 2022

The recipients of grants in 2021/22 reporting period were:

Action For Kids

Action For Kids is a national charity supporting disabled children, young people and their families.

Beacon

Beacon was set up to address the needs of the many asylum seekers in the Bradford District. The different projects offer practical support and strive to raise awareness of the issues surrounding asylum.

The Beamsley Project

Based in the Yorkshire Dales, the Beamsley Project provides specially designed holiday accommodation for people with disabilities and their carers.

Bradford Central Food Banks

Bradford Central Foodbank is a busy city centre Foodbank with local people serving the needs of the community. Bradford is ranked the 5th most income deprived local authority in England with 29% of children living below the poverty line.

Cancer Support Yorkshire

Cancer Support Yorkshire has centres in Bradford & Skipton and provides practical and emotional support to those affected by a cancer diagnosis

Candle Lighters

Candlelighters are providing support to families in Yorkshire affected by childhood cancer.

DEC Ukraine Appeal

DEC charities have been supporting some of the 13 million people displaced by the conflict, both inside Ukraine and in neighbouring countries.

Lullaby Trust

The Lullaby Trust is a British charitable organisation aiming to prevent unexpected deaths in infancy and promote infant health.

Lifelites

Lifelites provides specialist technology for children in children's hospices across the British Isles

Leuchie House

Located near Edinburgh, Scotland, Leuchie House is dedicated to providing caring respite breaks for people and their families living with long term conditions.

Martin House Hospice

Martin House Hospice provides family-led hospice care free of charge for children and young people with life-limiting illnesses.

Marine Conservation Society

The Marine Conservation Society is a UK based not-for-profit organization working with businesses, governments and communities to clean and protect oceans.

Page 7

The Lyndal Tree Foundation Trustees’ Report (Continued) For the Year Ended 5 April 2022

Motivation

Motivation is a global disability charity and social enterprise that provides wheelchairs and services to disabled people in developing countries.

Perth & Kinross Association of Voluntary Services - PKAVS

PKAVS supports unpaid carers, people recovering from mental illness and minority communities, and works to strengthen the voluntary sector.

Yorkshire Air Ambulance

Yorkshire Air Ambulance is an independent Air Ambulance charity, providing a lifesaving rapid response emergency service to 5 million people across Yorkshire.

Yorkshire Dales Millenium Trust

The Yorkshire Dales Millenium Trust helps to look after some of the most spectacular and precious landscapes in England.

WheelPower

WheelPower provides opportunities for disabled people to get into sport and lead active lives.

World land trust

It raises money to buy and then protect environmentally-threatened land in Africa, Asia, and Central and South America.

e) Financial Review

The Lyndal Tree Foundation is a grant-making Foundation. These grants are primarily funded by interest produced from capital held. As of 5 April 2022, the Foundation’s assets total £2,133,421, increasing by £43,424 from 5 April 2021. Unrealised gains amounted to £87,406.

The Foundation’s capital has arisen through significant donations the Foundation received in its first years alongside Gift Aid, interest, investment growth and donations since. Combined, these have seen an increase in the Foundation’s funds from establishment.

The Trustees do not solicit donations but acknowledge the prospect of further contributions; the Foundation’s long term strategy continues to be one of selfsustenance. Further small to medium capital donations would be expected to result in an increase in grants in the short and medium term, whereas larger donations may cause a review of the base level of capital we hold.

f) Investment Policy & Review

The Investment Mandate given to Rathbones stipulates the following:

Mandate

Page 8

The Lyndal Tree Foundation Trustees’ Report (Continued) For the Year Ended 5 April 2022

A medium risk portfolio will aim over time to achieve returns above the rate of inflation and should reflect the majority of the fluctuation in value of major equity markets. A medium risk portfolio will differ from a lower risk portfolio by being less diversified by asset classes and /or having greater exposure to equities, which may include shares in smaller and medium-sized companies and/or emerging markets. A medium risk portfolio would be suitable for investors with a medium time horizon and capacity to accept a temporary or, rarely, permanent capital loss.

Holdings

Restrictions & Positive Screening

g) Grantmaking Strategy

The Foundation makes grants in two ways; providing one-off grants, and through regular support. If providing regular support, the Trustees will review the grant after an agreed period of time. The regular payments made so far have been agreed to be made on an annual or monthly basis and have generally committed to no longer than three years of funding before review.

Page 9

The Lyndal Tree Foundation Trustees’ Report (Continued) For the Year Ended 5 April 2022

h) Reserves Policy

It was initially the expectation of the Trustees that the capital of the Foundation should generally remain above £1,000,000. In recent years, significant contributions combined with good investment returns has seen the Foundation’s holdings increase to £2,133,420. There was no mandate in place for the Foundation to grow, but Trustees feel it appropriate to approximately factor in inflation (with data sourced on CPI from Office National Statistics UK[1] ). This has been applied to the initial £1,000,00 which means that figure in real terms is equivalent to £1,423,956.

Period (Apr-Apr) CPI (ONS) CPI Adjusted Reserve Level
£1,000,000
2008-2009 2.3% £1,023,000
2009-2010 3.7% £1,060,851
2010-2012 4.5% £1,108,589
2011-2012 3.0% £1,141,847
2012-2014 2.4% £1,169,251
2013-2014 1.8% £1,190,298
2014-2015 -0.1% £1,189,108
2015-2016 0.3% £1,192,675
2016-2017 2.7% £1,224,877
2017-2018 2.2% £1,251,824
2018-2019 2.0% £1,275,861
2019-2020 0.8% £1,287,075
2020-2021 1.5% £1,306,382
2021-2022 9.0% £1,423,956

i) Plans for Future Periods

For the upcoming reporting period April 2022 to March 2023, the Trustees of The Lyndal Tree Foundation see the following objectives as priorities:

1. Retain capital surplus to one million pounds + CPI from founding date.

2. Make grants amounting to >5% of the Foundation’s reserve level based on the 5[th] April 2022 figure, for grant making taking place between 5[th] April 2022 – 5[th] April 2023 this will be a figure surplus to £71,197.80

3. Make grants to environmental charity/ies accounts of >20% (total amount granted rather than number of charities supported) for the reporting period.

1 Source: https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/october2022

Page 10

The Lyndal Tree Foundation Trustees’ Report (Continued) For the Year Ended 5 April 2022

j) Trustee Remuneration

No trustee has received any remuneration during this year. Trustee expenses also amounted to £nil.

No trustee had any personal interest in any contract or transaction entered into by the Foundation. The Trustees note that Lynda Duttine also sits as a trustee of The Beamsley Project, a charity supported by The Lyndal Tree Foundation. She receives no remuneration for this role at The Beamsley Project and has no commercial interest in the organisation. Lynda, nor the other Trustees of The Lyndal Tree, considers that there is any conflict of interest between these roles.

Charges for all financial institutions, including auditors and accountants, are paid for by the Foundation, as is the cost of the PO Box. Visits are made at the discretion of the Trustees and no expenses are sought from the Foundation. All other costs are personally covered by the Trustees.

k)

Taxation

As a charity, The Lyndal Tree Foundation is exempt from tax on income and gains falling with section 505 of the 1998 Taxes Act and Section 256 of the Taxation of Chargeable Gains Act of 1992.

Page 11

The Lyndal Tree Foundation Trustees’ Report (Continued) For the Year Ended 5 April 2022

Statement of Trustees’ Responsibilities

The Trustees are responsible for preparing the Trustees’ 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:

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 Charity (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 the Trustees and signed on its behalf:

STEVEN DUTTINE

Steven Duttine Trustee

Date: 5 February 2023

Page 12

The Lyndal Tree Foundation Independent Examiner’s Report For the Year Ended 5 April 2022

Independent Examiner’s Report

I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2022, which are set out on pages 14 to 22.

Responsibilities and basis of report

As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed: SIMON BOSTROM FCIE

Date: 3 February 2023

West Yorkshire Community Accounting Service Stringer House 34 Lupton Street Leeds LS10 2QW

Page 13

The Lyndal Tree Foundation Statement of Financial Activities For the Year Ended 5 April 2022

Statement of Financial Activities

Income and endowments
Note
Donations:
Gifts of expendable endowment
Investment income
2
Total Income
Expenditure
Cost of raising funds:
Investment management costs
3
Expenditure on charitable activities
4
Total expenditure
Gain/(Loss) on currency transactions
Net gains/(losses) on investments
6
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
10		 Unrestricted
Funds
Endowment
Funds
Total
Funds
Total
Funds
2022
£
2022
£
2022
£
2021
£
-
62,500
62,500
75,000
27,455
-
27,455
26,737
27,455
62,500
87,955
101,737
-
13,418
13,418
11,319
138,583
-
138,583
123,349
138,583
13,418
152,001
134,668
154
154
(2,881)
-
105,316
105,316
504,300
(111,128)
154,552
43,424
468,488
111,128
(111,128)
-
-
-
43,424
43,424
(163,852)
-
2,089,997
2,089,997
1,621,509
-
2,133,421
2,133,421
2,089,997

The Statement of Financial Activities includes all gains and losses recognised in the year. All amounts relate to continuing operations.

The notes on pages 16 to 22 form part of these accounts

Page 14

The Lyndal Tree Foundation Balance Sheet As At 5 April 2022

Balance Sheet

Note
Fixed assets
Investments
6
Total fixed assets
Current assets
Debtors
7
Cash at bank and in hand
8
Total current assets
Current liabilities
9
Net current assets
Net assets
Funds of the charity
Unrestricted general fund
10
Expendable endowment fund
10
Total charity funds		 2022
£
2021
£
2,028,648
2,021,664
2,028,648
2,021,664
12,500
0
93,743
71,943
106,243
71,943
(1,470)
(3,610)
104,773
68,332
2,133,421
2,089,997
-
-
2,133,421
2,089,997
2,133,421
2,089,997

The notes on pages 16 to 22 form part of these accounts.

The financial statements were approved and authorised by the Trustees on … 5 February 2023

Signed on behalf of the board of Trustees

STEVEN DUTTINE .

Steven Duttine Trustee

Page 15

The Lyndal Tree Foundation Notes to the Accounts For the Year Ended 5 April 2022

Notes to the Financial Statements

1 Accounting policies

(a) Basis of preparation of financial statements and assessment of going concern

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the 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) – (Charities SORP (FRS 102)) and the Charities Act 2011.

The trust constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

(b) Incoming resources - charitable activities

Recognition of incoming resources

These are included in the Statement of Financial Activities (SOFA) when:

Tax reclaims on donations and gifts

Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.

Investment Income

This is included in the accounts when receivable and can be measured reliably.

Investment gains and losses

This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

(c) Expenditure and Liabilities

Liability recognition

Liabilities are recognised once there is a legal or constructive obligation committing the Charity to pay out resources, it is probably that settlement will be required and the amount of the obligation can be measured reliably.

Grants payable without performance conditions

These are recognised when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the Charity.

Page 16

The Lyndal Tree Foundation Notes to the Accounts For the Year Ended 5 April 2022

Irrecoverable VAT

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Costs of raising funds

The costs of generating funds consist of investment management costs and certain legal fees.

Charitable activities

Costs of charitable activities include grants made, governance costs and related support costs.

(d) Investments

Investments quoted on a recognised stock exchange are valued at mid-market value at the year end. Other investment assets are included as Trustees’ best estimate of market value. Unrealised and realised gains and losses are shown net in the statement of financial activities.

(e) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

(f) Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

(g) Fund accounting

The general fund comprises free reserves for use in the day to day operation of the Charity.

The expendable endowment fund has been invested to generate income which is spent for the purpose of the Charity as and when the Trustees see fit.

(h) Critical accounting policies and key sources of estimate uncertainty

In the application of the company’s accounting policies, the Trustees are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, on in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

Page 17

The Lyndal Tree Foundation Notes to the Accounts For the Year Ended 5 April 22

2
Investment income

Dividend income

Prior Year Dividend Adjustments

Bank interest


3
Investment management costs

Investment management fees		 2022
£
2021
£
25,455
26,737
-
-
25,455
26,737
2022
£
2021
£
13,418
11,319

4 Analysis of charitable expenditure

The charity undertakes its charitable activities through grant making and awarded grants to a number of institutions in furtherance of its charitable activities.

Funded from unrestricted funds:
Medical research
International (adults and Children)
Health and social welfare of adults
Health and social welfare of children
Health and social welfare of Adults and
children
Relief of Sickness and Injury
Environmental
Administrative
Governance costs – PY adjustment
Recipients of institutional grants
Beacon
Beamsley Project
Bradford Central Food Bank
Cancer Support Yorkshire
Candlelighters
Lifelites
Leuchie House
Lullaby Trust
Martin House Hospice
Marine Conservation
Motivation
My AFK
PKAVS
Save Bradford Foodbank
Wheelpower
Ukraine Appeal
World Land Trust
Yorkshire Dales Millennium Trust
Yorkshire Air Ambulance		 Grants to
institutions
£
Support
£
Total
2021
£
Total
2021
£
-
-
0
49,617
35,000
-
35,000
-
-
-
-
-
22,000
-
22,000
20,000
51,000
-
51,000
49,000
3,000
-
3,000
3,000
28,000
28,000
0
-
283
283
278
-
(700)
(700)
1,455
139,000
(417)
138,583
123,349
2022
£
8,000
10,000
2,000
8,000
3,000
8,000
4,000
3,000
3,000
12,000
15,000
5,000
13,000
3,000
3,000
20,000
12,000
4,000
3,000
139,000		 Grants to
institutions
£
Support
£
Total
2021
£
Total
2021
£
-
-
0
49,617
35,000
-
35,000
-
-
-
-
-
22,000
-
22,000
20,000
51,000
-
51,000
49,000
3,000
-
3,000
3,000
28,000
28,000
0
-
283
283
278
-
(700)
(700)
1,455
139,000
(417)
138,583
123,349
2022
£
8,000
10,000
2,000
8,000
3,000
8,000
4,000
3,000
3,000
12,000
15,000
5,000
13,000
3,000
3,000
20,000
12,000
4,000
3,000
139,000
139,000

Page 18

The Lyndal Tree Foundation Notes to the Accounts For the Year Ended 5 April 2022

5 Net income/(expenditure) for the year

Is stated after charging:

Independent examination fees - WYCAS
Accounts administration fees
6
Investments

Market value at 6 April 2021

Add: Additions to investments at cost
Less: disposals at carrying value
Realised gain/(loss)
Net gain/(loss) on revaluation
Market value at 5 April 2022

Investments at fair value comprised:

Equities
Fixed interest securities
Infrastructure funds
Property funds
Total
2022
2021
£
£
720
720
750
735
1,470
1,455
2022
£
2021
£
2,021,664
1,481,032
165,220
338,647
(263,553)
(302,315)
17,911
54,096
87,406
450,204
2,028,648
2,021,664
2022
£
2021
£
1,596,557
1,705,175
280,978
316,489
117,737
-
33,376
-
2,028,648
2,021,664

All investments are carried at their fair value and are listed on a recognised stock exchange or held in common investment funds, open ended investment companies, unit trusts or other collective investment schemes.

7 Debtors

Tax repayment due
-
Gift aid		 2022
£
2021
-
12,500
-
12,500-
-

Page 19

The Lyndal Tree Foundation Notes to the Accounts For the Year Ended 5 April 2022

8
Cash at bank and in hand

Adam & Co current account
Rathbones accounts		 2022
£
2021
£

30,877
46,745
62,866
25,198
93,743
71,943
Current liabilities


Accruals
 2022
£
2021
£
1,470
3,610

9 Current liabilities

10 Analysis of funds

Analysis of unrestricted funds
At 5 April 2021
Incoming resources
Outgoing resources
Other gains and losses
Fund transfers
At 5 April 2022		 General
fund
£
Expendable
endowment
fund
£
Total
Funds
2022
£

-
2,089,997
2,089,997
27,455
62,500
89,955
(138,583)
(13,418)
(152,001)
-
105,470
105,470
111,128
(111,128)
-
-
2,133,421
2,133,421

Analysis of unrestricted funds

The General fund comprises free reserves for use in the day to day operation of the Charity.

The expendable endowment fund has been invested to generate income which is spent for the purpose of the Charity as and when the Trustees see fit. During the year the trustees transferred £96,612 from the expendable endowment fund to the general fund (2020: £70,416 transferred from the expendable endowment fund to the general fund) in line with the reserves policy of the foundation.

Analysis of net assets between funds

Fixed assets
Current assets
Less current liabilities
Total		 General
fund
£
Expendable
endowment
fund
£
Total
funds
£
-
2,028,648
2,028,648
-
106,243
106,243
-
(1,470)
(1,470)
-
2,133,421
2,133,421

Page 20

The Lyndal Tree Foundation Notes to the Accounts For the Year Ended 5 April 2022

11 Related party transactions

Donations amounting to £50,000 were made in the year by Mrs L Duttine a trustee. (2021: £60,000).

None of the trustees have been paid any remuneration or received any other benefits from an employment with the charity or a related entity, nor have any trustees’ expenses been incurred.

12 Financial instruments

Financial assets at fair value
Total financial assets
Financial liabilities		 2022
£
2021
£
2,028,648
2,021,664
2,028,648
2,021,664
1,470
3,610

Page 21

The Lyndal Tree Foundation Notes to the Accounts For the Year Ended 5 April 2022

13 Comparative Statement of Financial Activities

Income and endowments
Donations:
Gifts of expendable endowment
Investment income
Total Income
Expenditure
Cost of raising funds:
Investment management costs
Expenditure on charitable activities
Total expenditure
Loss on currency transactions
Net Gain on investments
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Endowment
Funds
Total
Funds
2021
£
2021
£
2021
£
-
75,000
75,000
26,737
-
26,737
26,737
75,000
101,737
-
11,319
11,319
123,349
-
123,349
123,349
11,319
134,668
(2,881)
(2,881)
-
504,300
504,300)
(96,612)
565,100
468,488
96,612
(96,612)
-
-
468,488
468,488
-
1,621,509
1,621,509
-
2,089,997
2,089,997

Page 22