THE LIZIANTHUS TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 CHARITY NO. 1125215 ALLEN, WEST, AND FOSTER CHARTERED ACCOUNTANTS
THE LIZIANTHUS TRUST TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 CONTENTS PAGE Truslees, Report Independènt Accountants Report Statement of Financial Activities Stalement of Financial Position Notes to the Financial Ststements 6-10
THE LIZIANTHUS TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5TH APRIL 2024 The Iruslees are pleased to pr8sent their annual trustees, report together with the financi31 stat8m8nls of Ihe charity for thg yaar ended 5th April 2024. The financial statements comply with the Charities Act 2011. thè Charity's Trust Deed and Aecounling and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffeclive 1 January 20151. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The organ15alion is a registered charity - originally registered on 28tn July 2008. The organisation has a Trust Deed which establish85 Ils objects and the powers of the charity. This was originally drawn up on 2ry1 July 2008. Recrultment and Appointment olmanagement Committee Jeni Vlne, Steve Wagslaff. Tim Hollins, an¢J Maureen Russell continued throughout the year as trustees. Trustees are appointed for their demonstrable commitment to supporting work lo relieve financial hardship and social andlor economic disadvantage and work tha: advances education in Latin America. They are also required lo have sufficlenl language skills lo comprehend projects written in Spanish. They are appoinl8d for an undefined amount of time. Trustees are appoinleij lo the roles ol Chair and Secretary al each AGM by trustee vole. Trusteo Inductlon and Tralnlng There were no new Iruslees appointed during the year. Rlsk Mjnagement The previously appointed inve91mènt managfjr continued lo manage the Trust funds and lo provide 8 ri$k profile. The Iruslees continued lo review investment reports and the risk profile. The Trust has continued lo provlde donallons lo charitabl8 causes. It has not sel up any other type ol proi&cl or direct activity. Organl$atlonal Stru¢turn The trustees Continued to manage the affairs ol the trust. considerlng the advlce of the investm8nl manager, financial advisor and prop8ty agent. The Trustees now engage a conlra¢tor lo administer the charity's Adminislrauon functions. There are no other paflies involved in the organisalion either paid or unpaid. OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT As defined in Ihe Trusi Deed the otsiects ar8. The rollef ol Ilnanclal hardship and social andlor enoMiC disadvantage for the beneflt of the public. 2. The advancemeni ol education of peopl8 of all ages. 3. The promollon of such other cMaTllable pufposès as trustees think flt. The activities in this year of op8ralion were to ensure that Tru$tee$ continued lo be aware of their responsibil¢t108, to manage the Irusl, to develop policies, to identify potential recipients of donations. and lo implement agreed donations. The trustees have had regard for the Charity Commlssion guidance on public benefit. Throughout the year, the Trust continued to apply its Area of Operations Policy {last amended al its AGM in October 2015. ACHIEVEMENTS AND PERFORMANCE During the year the Trust made sever81 disbursements lo charitable causes and made anS for further disbursements in future years. The Iruslees continued lo develop thèir undefstanding of governance and operation. The trustees considor that Ils system of management reporting is excellent for a charity ol this size and profile.
THE LIZIANTHUS TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5TH APRIL 2024- continued FINANCIAL REVIEW The investment manager reported that the return inveslmenls over the year had been comparable lo well-known benchmarks such as FTSE 100. The Trustees r8ceive detailed reports and retain confid8nce in Ihe investment manager's strategy. Investment Pollcy Th6 Trust has continued lo retain some reserves in cash form, sufficient to provide readily available funds for disbur5ernents. The remainder will continue lo be Invested for the longer term. using the same balanced risk portlolio. Regular Investment review meetings with our financial advisor continued. The financial advisor liaises with the investment manager on our behalf. R•serves Policy The Irusiees have considered the ¢harity's requirements for reserves in the light of the main risks lo the organizalion. Since there are no employees and no signilicanl regular oulgoings. il has been decKled that Iherg is no requirement to build up unrestricted reservés lo a specific amount since annual budgetéd expendilure lor the management ol the trust is low. This policy will be roviowed annually. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are required under the Charities Act 2011, to prepare flnancial slalements for each financial period, which give a true and fair view of the charity's financial activities during the period and of ils financial posilion al the end of the period. In preparing financial statements giving a true and fair view, the Iruslees should follow the best practice and.. {al Select sultable accounting policies and apply them consistently. {b} Make judgements and estimates Ihal are reasonable and prud6nl. Ic) Prepare the flnancl81 gtatemenls on the going concern basis unless it is inappropriale lo presume that the charity will continue in operation. The trustees are fe3ponslble for keeplng a¢¢ounting records which disclose with reasonable accuracy the financial position of Ihe charity, and which enable them to ensure that Ihe financial statements comply with applicable law and regulations. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevenllon and detection of fraud and other irregularities. This report has been prapar8d In accordance with the Statement of Recommended Pracuce <FRS1021.' Accountlng and Reporting by Charrties. APPROVAL Thls report was approved by the trustees on 15th Novembgr 2024 and $19nod on their behalf by Jeni Vine TnJste8 Registered ofFice'. Omega Court. 366-368 Cemetery Road, Sheffield, S11 8FT
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS OF THE LIZIANTHUS TRUST Wa report on the financial slalements of the Charity for the year ended 5th Aoril 2024 which ar8 sel out on pagas 4 10 10. Respectlvè responsibilities of trustees and examlnor The charity's Iruslees are responsible for the preparation of the financial slalements The charity's Iruslees consider that an au(Jil Is not required for this year under section 144121 of the Charities AGI 2011 Ilhe 2011 Actl. and Ihal an Independent examination is needed. It is our responsibility to.. examine the financial slalemenls under section 145 of the 2011 Act. lo follow the procedures laid down In the General Directions given by the Charily Commission (under section 145151{bl of the 201 l Acll, and lo stale whether matters have come lo our attention. 8a818 01 indèpendent examinerfs rèport Our examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting rècords kepl by the charity and a comparison of the financial statements presented with thos8 rocords. It also includes consideration of any unusual ilerns or disclosures in Ihe finaneial slatemenls and seeking explanations from the Iruslees Concerning any such mattets. The procedures undortak&n do not provide all the evidence that would be requir8d in an audit, and consequently no opinion Is given as to wh&lher the financial statements present a "true and fair vlew" and the report Is limited to those matters set out in th8 slaiement below. Independgnt examlnerfs statemént During our examination. no matter has como to our attention.. whi¢h give$ us reasonable cause lo believe that in, any malèrial re$Cl, the requirements: to keep accountlng records In accordance with section 130 of the 2011 Act.. and lo prepare financial statements which accord with the accounting records and Comply with the accounting requirements of the 2011 Act. have not been met.. or io whlch. In our opinlon. attention should be drawn in order lo enable a proper undetstandlng of the financial statements lo bè reached. Stephen D. Allan ACA, FCCA Allen. Wesi and Foster Limited Chartered Accounlanls Omega Court 364-366 Cemetery Road Sheffield S11 8FT Dsle-. 151n November 2024
THE LIZIANTHUS TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2024 UNRESTRICTED FUNOS RESTRICTED FUNDS TOTAL 2024 TOTAL 2023 Notes INCOMING RESOURCES Incoming resources from generated fund5 Donations and legacies Investment income Charitable activities 200.000 15.519 4,391 200,000 15,519 4,391 15,580 3,085 TOTAL INCOMING RESOURCES 219,910 219.910 18.665 RESOURCES EXPENDED Charltable actlvltlos 45,670 45,670 57,755 Governan¢e costs 14.368 14,368 15.504 TOTAL RESOURCES EXPENDED 60,038 60,038 73,259 NET IOUTGOINGIIINCOMING RESOURCES BEFORE OTHER RECOGNISED GAINS 159.872 IS9,872 (54,594) OTHER RECOGNISED GAINS AND LOSSES Gainlllossl realised on sale of investments Unrealised gainlllossl on investmen18 123,6661 12,8921 123.6661 (2,8921 5.665 193.9941 NET MOVEMENT IN FUNDS FOR THE YEAR 133.314 133,314 (142,923) TOTAL FUNDS BOUGHT FORWARD 618,999 618,999 761,922 TOTAL FUNDS CARRIED FORWARD 752,313 752,313 618,999 Thore were no recognised gains or losses for the above hvo financial periods other than those Included In the Sialement of Financial Activities and all the trust's activrties are continuing.
THE LIZIANTHUS TRUST STATEMENT OF FINANCIAL POSITION AS AT 5TH APRIL 2023 2024 Noto$ 2023 FIXED ASSETS Tangible assets Investmen15 148,573 384,699 148,573 419.974 533,2T2 568,547 CURRENT ASSETS Debtors Cash al bank and in hand 5.000 215,181 51,538 220,181 51,538 CREDITORS.. amounts falling due within one year 10 11,1401 11,086) NET CURRENT ASSETS 219,041 50,452 TOTAL ASSETS LESS CURRENT LIA81LITIES 752,313 618,999 FUNDS Unr&strict&d funds Rgslricted funds 11 752.313 619,999 TOTAL CHARITY FUNDS 752,313 619,999 The trustees have prepared the ae¢ounts in accordance with section 138 of the Charities Act 2011 for circulation lo trustees vl Ilie Llidrily. Approved and authorised for issue by thè trustO88 on 15th Novembejr 2024 and slgned on iheir behalf. Jeni Vine Trustee Th& notes on pages 6 to 10 form part cf these financial slatemenls.
THE LIZIANTHUS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 ACCOUNTING POLICIES The principal accounting policies adopted. jLJdg8m8nts and key SOLtrces and estimation uncertainty in the preparation of the financial statement are as follows. a} Ba$18 of preparation of financial statements The linancial slalements have been prepared in accordance wiltt Accounting and Reporting by Charities.. Sialemenl of Recommended Practice applicable lo charilies preparing their accounts in accordance wilh the Financial Reporting Standard applicable in ttre UK and Republic of Ireland IFRS 102120191- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities AGI 2011. The trust meets the definition ol a public enlily under FRS 102. Assels and liabilities are Initially recognised al historical cost or Iran5aclion value unless otherwise ststed In the relevant accounting policy nolelsl. bl Reconclllatlon wlth prevlous Generally Accepted Accountlng Practlc• In preparing Ihe accounts, the Iruslees Consider that In applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 no reslalement of compafalive Items Is requir8d. Incomlng Re80urc•s AJI incoming resources are included in the slalement of financial activities when the chanty is entitled lo the Income and the amount can be quantified with reasonable accur8cy. The following specific policies are applied lo categories of income.. Voluntary incorrie is received by way of grants. donations and gifts and is included in full in the Slalemenl of Financial Aclivrties when ¢&IVable. Grants, where enlillemenl is not condillonal on the delivery of a specrfic perforniance by the charity. are reGognised when the charity b8comes uncondltlonally enlitled to the grant. Doi)ated services and facilities are included at the value to Ihfj charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts. Investment income is Included when receivable. Incoming resources from grants, where related to performance and specific doliverables, are accounted for as the charity eams the right lo consideration by its performance. dl Resourc•8 Exp•nd•d Resources expended are included in the Statement of Financial Acllvitles on an accruals basis and aré recognised when there 15 a legal or constructive obligation to pay for expenditure. Expenditure Is shown Inclusive of any VAT, which cannot be recovered. Grants payabl&s are charged in the year when the offer is conveyed lo the ocipient exGepl in Ihose cases where Ihe offer Is condilional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been mel al the year end are noted as a comrnilment. bul noi accrued as expendilure. Certain expenditure is direcuy attributable to specific 8clivities and has been included in those co$1 categories. Certain other costs. which are attributable to more than one activity. a apportioned across cost categories based on an eslimale of the proporb'on of time spent by staff on those activiUes. Governance costs are those incurred in connection with management of the Gharity's assets, organisalional administration. and compliance wlth constitutional and statutory requirements. Costs of generating funds includes all amounts incurred In raising income, namely a proportion of the consultancy fees for the appeal Cordinator.
THE LIZIANTHUS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 continued ACCOUNTING POLICIES . continued Flxed a35ets All fixed ass&ls are initially recorded at cost. Investment prop8rtigs Investment properties are shown al their open market value The surplus or deficit arising from the annual revaluation Is transferred lo Ihe investment revaluation reserve unless a deficit. or Ils reversal. on an individual investment property is expected lo be permantsnl, in which case il is recggniyod in the Stslemenl of Financial AGlivilies lor the year. The Charities Act 2011 does not require depreciation of investrnenl properties. Investment properties are held for their investment potential and not lor use by the charity and so their current value is of prime importance. The departure from the provisions ol the Act Is required in order lo give a Irue and fair view. Inv•stm•nt$ Investments are Included al market value at the balance sheet dale. Gains or losses arising on movements In market value are taken to the SOFA. gl Fund Accountlng Funds held by the charity are either.. Unreslricted general funds. These are funds which can be used in aGcordance with the charitable objects al the discretion of the Iruslees. Raslricled funds. These are funds that can only be us8d lor reslricled purposes within Ihe objecls of the charity. Restrlcllons arise wh8n specrfied by the donor or when fvnds are raised for restricted purposes. DONATIONS AND LEGACIES Unrestrlcted Funds Rostrlcled Funds Total 2024 Total 2023 Donations received 200,000 200,000 INVESTMENT INCOME Unreslrlctod Funds Restrlcted Funds Total 2024 Tol81 2023 UK Deposit interest Investment income from listed investments 490 15.029 490 15,029 203 15.377 15.519 15,519 15.580 rhe investment income above is derived from the Quoted Investments sel out In note 9.
THE LIZIANTHUS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 contlnued CHARITABLE ACTIVITIES Unrestricted Funds Re5triGted Funds Total 2024 Tol81 2023 Rental income 4,391 4,391 3,085 TOTAL RESOURCES EXPENDED 8asis of Allocation Charitablè Projects Governance Total 2024 Total 2023 Costs directly allocated. to activitiès Grant5 made Inole 41 Investment managers fees Direct Direct 45,670 45,670 4,423 57,755 5,236 4,423 Support costs allocatod. to a¢tlvltl06 Bad debt 8ank charges Accountancy fees Exchange differences Repairs lo rental property Sundry expenses Direct Direct Direct Direct Direct Direct 256 1,146 110) 440 8,113 256 1,146 10) 440 8,113 334 1.086 13251 1.716 7.457 45.670 14,308 60,038 73,259 GRANTS PAYABLE During the year ended 5th April 2024. grants paid to organisalion5 were as follows.. 2024 2023 ACUDESBAL IEI Salvador) CESESMA (Nicaragual Chajra Runaj Ma818 IBnliviAI ?022 budop.t Chajra Runaj Masis (Bolivial 2023 budget Music for Hope IUKI Mlnd out of Music IUKI Funyasuka18olivial 2022 budget FunyasL•ka (Bolivial 2023 budget 9.830 12,288 4,147 20,480 12,800 5.120 8,000 4.000 5,000 2,560 45.670 57.755 NET MOVEMENT IN FUNDS FOR THE YEAR The net movement In funés for the year is ststed after charging.. - 2024 2023 Accountsnt's remuneration 1,146 1,086
THE LIZIANTHUS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 continued TANGIBLE FIXED ASSETS Fr¢ehold Investment Property Cost or Valuation 8ro(Jghl forward Additional renovation costs during year 148,573 On 5th April 2023 148.573 NET BOOK VALUE On 5th Aprll 2022 148,573 The freehold investment property was donated lo the charity during the year ended 51h April 2017 and valued by the trustees on 5th April 2017 at ils estimated markel rosale value. A new valuation will be carrled out In the year lo sm April 2025. FIXED ASSET INVESTMENTS 2024 2023 Intarnatlonal Quoted Investments Market value at start of perlod Investments made Disposal proceeds Nel realised investmenl Ilossesll gains Nel unrealised investment losses 417.974 149,246 1157.9631 {23,6661 (2.8921 568.098 117.303 1179.0981 5,665 (93,9941 Market value at end of period 382,699 417,974 Historical cost al end of period 456,395 503.889 The Invcstment portfolio consists of the following". Fixed Interest funds UK Equities and fvnds Overseas Equilies and funijs Olher Investments 81,754 294,519 6.426 141.653 264,742 11,579 382,699 417,974 Unquoted Investments held in charity. Fair Traders Coryoperalive 2.000 2,000 2,000 2.000 The investments arè held primanly lo provide an investment return for the charity.
THE LIZIANTHUS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED STH APRIL 2024 Gontinued 10. 10. CREDITORS., Amounts falling due within one-year 2024 2023 Accountancy accrual 1,140 1.086 11. ANALYSIS OF NET ASSETS BETWEEN THE FUNDS Unrestrlcted Funds Restricted Fund5 Total Funds 2024 Tangible fixed assets Investments Doblors Cash al bank and in hand Creditors 148.573 384,699 5.000 215,181 11,1401 148,573 384,699 5.000 215,181 11.140) 752.313 752,313 Unrestricted Funds Restricted Funds Total Funds 2023 Tangible fixèd assets Inv8slmenls Debtors Cash al bank and in nand CredSlors 148.573 419,974 148,573 419,974 51,538 11,0861 51,538 11,0861 618.999 618,999 12. TRUSTEES REMUNERATION AND EXPENSES During the year under review, the Iw3tees received a total of £Nil 12023 - £NIll in rgspoct of expenses reimbursed lo them. No trustee or any related party recelve¢J any remuneration. 13. TAXATION The charfly is exempt from lax on income and gains falling within section 505 of the Taxes Act 7 988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to ils charitable objecls.