Charity number: 1126293
THE LAKE HOUSE CHARITABLE FOUNDATION
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
THE LAKE HOUSE CHARITABLE FOUNDATION
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 - 13 |
THE LAKE HOUSE CHARITABLE FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2025
Trustees
Mrs H C Perry, Chair Mr A Candlish, Trustee Mr T A Perry, Trustee Mr M Platt, Trustee Miss S Platt, Trustee
Charity registered number
1126293
Principal office
PO Box 651 Weybridge Surrey KT13 3EP
Independent examiner and accountants
Martin Bailey FCA Goodman Jones LLP Chartered Accountants 1st Floor Arthur Stanley House 40-50 Tottenham Street London W1T 4RN
Bankers
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Page 1
THE LAKE HOUSE CHARITABLE FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025
The Trustees present their annual report together with the financial statements of the Charity for the year 6 April 2024 to 5 April 2025.
Objectives and activities
a. Policies and objectives
The objects of the Charity are:
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i) The care and support of and the provision of financial support for:
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disabled and sick children and young people;
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children and young people suffering from emotional distress or from lack of stable family upbringing; and
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children and young people suffering from social or educational disadvantages.
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ii) The relief of poverty and care of the elderly and the provision of accommodation for the elderly.
iii) Such general charitable purposes as the Trustees determine.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting the grant making policy for the year).
b. Grant-making policies
The Trustees review each application on an individual basis. Assistance is tailored to the specific need of the beneficiary, provided the objects of the Charity are satisfied.
Achievements and performance
a. Review of activities
During the year, we distributed £21,699 (2024: £84,591) to 2 charitable organisations (2024: 11), continuing to support projects that we have assisted previously.
Financial review
a. Going concern
After making appropriate enquiries and assurances from the Settlor, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
Generally, it is the Trustees' policy to expend the Charity's income. However since the demand for assistance from the Charity occurs on a irregular basis, the fund balance flucates.
At the end of the financial year, the Charity held funds of £7,741 (2024: £4,120), all within free unrestricted funds. We believe that the Charity has sufficient assets to meet its obligations.
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THE LAKE HOUSE CHARITABLE FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
c. Material investments policy
The charitable settlement gives the Trustees wide powers to invest as they see fit. The Trustees maintain the policy to invest for the best return on the assets without unacceptable values of risk.
Structure, governance and management
a. Constitution
The principal object of the Charity is to make distributions mainly to small charities, who are of personal or local interest to the trustees. The Charity is governed by the charitable settlement made on 21 April 2008 by Mrs H C Perry.
b. Methods of appointment or election of Trustees
The number of trustees must not be less than three, nor more than seven. The settlor may nominate a new trustee during her lifetime. Subject to that, trustees are appointed by the resolution of the acting trustees.
c. Risk management
The major risks to which the Charity is exposed are considered and, where necessary, steps are taken to mitigate and minimise those risks.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Helen Puvy
Helen Perry Chair
Date: 13-02-26
Page 3
THE LAKE HOUSE CHARITABLE FOUNDATION
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2025
Independent Examiner's Report to the Trustees of The Lake House Charitable Foundation ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2025.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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.
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. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 16-02-26
Martin Bailey FCA
Goodman Jones LLP 1st Floor Arthur Stanley House 40-50 Tottenham Street London W1T 4RN
Page 4
THE LAKE HOUSE CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025
| Note Income from: Donations and legacies 4 Investments 5 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 29,125 31 29,156 25,535 25,535 3,621 4,120 3,621 7,741 |
Total funds 2025 £ 29,125 31 29,156 25,535 25,535 3,621 4,120 3,621 7,741 |
Total funds 2024 £ 59,518 40 59,558 89,032 89,032 (29,474) 33,594 (29,474) 4,120 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 7 to 13 form part of these financial statements.
Page 5
THE LAKE HOUSE CHARITABLE FOUNDATION
BALANCE SHEET AS AT 5 APRIL 2025
| 2025 | 2025 | 2024 | ||||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Current assets | ||||||
| Debtors | 11 | 5,825 | 12,045 | |||
| Cash at bank and in hand | 4,916 | 5,075 | ||||
| 10,741 | 17,120 | |||||
| Current liabilities | ||||||
| Creditors: amounts falling due within one | ||||||
| year | 12 | (3,000) | (13,000) | |||
| Net current assets | 7,741 | 4,120 | ||||
| Total net assets | 7,741 | 4,120 | ||||
| Charity funds | ||||||
| Restricted funds | - | - | ||||
| Unrestricted funds | 7,741 | 4,120 | ||||
| Total funds | 7,741 | 4,120 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ Helen Puvy Mrs H C Perry Chair
Date: 13-02-26
The notes on pages 7 to 13 form part of these financial statements.
Page 6
THE LAKE HOUSE CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
1. General information
The Lake House Charitable Foundation is a grant-making charity registered with the Charity Commission in England and Wales under charity number 1126293. The Chariy's objects are set oput in the Trustees' Report on page 2.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared in sterling and monetary amounts have been rounded to the nearest £.
The Lake House Charitable Foundation meets the definition of a public benefit entity under FRS 102.
2.2 Fund accounting
General funds are unrestricted funds which 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.
2.3 Going concern
The Charity is reliant upon donation income from the settlor to fund its grant-making activities. Grants are only awarded to the extent that the Charity has received donations sufficient to fund the grants.
The Trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern and consequently believe that the financial statements are appropriately prepared on such a basis.
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THE LAKE HOUSE CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
2. Accounting policies (continued)
2.4 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Investment income is included in the accounts when receivable.
Donated services are recognised at the value of expenses of the Charity paid on its behalf by the Trustees.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity
Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include overall management of the Charity. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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THE LAKE HOUSE CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
2. Accounting policies (continued)
2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.10 Taxation status
The Charity is an exempt charity within the meaning of section 519 of the Income Tax Act 2007. Accordingly, it is potentially exempt from taxation in respect of income or capital gains received within categories covered by section 256 of the Taxation of Chargeable Gains Act 1962, to the exent that such income or gains are applied exclusively to charitable purposes.
3. Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The Trustees have not identified any estimates or assumptions that are considered to have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
4. Income from donations and legacies
| Donations Donations Gift Aid Subtotal Total donations and legacies |
Unrestricted funds 2025 £ 23,300 5,825 5,825 29,125 |
Total funds 2025 £ 23,300 5,825 5,825 29,125 |
Total funds 2024 £ 47,618 11,900 11,900 |
|---|---|---|---|
| 59,518 |
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THE LAKE HOUSE CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
5. Investment income
| Unrestricted funds 2025 £ Bank interest 31 31 |
Total funds 2025 £ 31 31 |
Total funds 2024 £ 40 40 |
|---|---|---|
6. Analysis of expenditure by activities
| Grant funding Total 2024 |
Grant funding of activities 2025 £ 21,699 84,951 |
Support costs 2025 £ 3,836 4,081 |
Total funds 2025 £ 25,535 89,032 |
Total funds 2024 £ 89,032 |
|---|---|---|---|---|
All expenditure relates to unrestricted funds in both the current and prior years.
Analysis of support costs
| Independent examination Administration expenses Subscriptions Bank charges Postage and packing Total 2025 Total 2024 |
Grant funding 2025 £ 2,952 - 145 60 679 3,836 4,081 |
Total funds 2025 £ 2,952 - 145 60 679 3,836 4,081 |
Total funds 2024 £ 3,186 650 185 60 - 4,081 |
|---|---|---|---|
Page 10
THE LAKE HOUSE CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
7. Analysis of grants
| Grant funding Total 2024 8. Analysis of grants paid Challengers Cherry Trees Epsom College Development Fund Ipswich Community Playbus Over The Wall Regenerate React The Sanderson Centre The Ellen MacArthur Foundation Theodora Children's Charity Young & Inspired Total |
Grants to Institutions 2025 £ 21,699 84,951 |
Total funds 2025 £ 21,699 84,951 2025 £ - - 18,199 - - - - 3,500 - - - 21,699 |
Total funds 2024 £ 84,951 |
|---|---|---|---|
| 2024 £ 10,000 3,000 47,451 3,000 2,000 1,500 2,000 3,500 10,000 1,500 1,000 84,951 |
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .
During the year ended 5 April 2025, no Trustee expenses have been incurred (2024 - £NIL) .
10. Staff costs
The Charity had no employees in either the current or prior years.
Page 11
THE LAKE HOUSE CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
11. Debtors
| Due within one year Other debtors - gift aid receivable Prepayments and accrued income |
2025 £ 5,825 - 5,825 |
2024 £ 11,900 145 |
|---|---|---|
| 12,045 |
12. Creditors: Amounts falling due within one year
| Other creditors - grants payable Accruals and deferred income |
2025 £ - 3,000 3,000 |
2024 £ 10,000 3,000 |
|---|---|---|
| 13,000 |
13. Summary of funds
Summary of funds - current year
| General funds Summary of funds - prior year General funds |
Balance at 6 April 2024 £ 4,120 Balance at 6 April 2023 £ 33,594 |
Income £ 29,156 Income £ 59,558 |
Expenditure £ (25,535) Expenditure £ (89,032) |
Balance at 5 April 2025 £ 7,741 |
|---|---|---|---|---|
| Balance at 5 April 2024 £ 4,120 |
Page 12
THE LAKE HOUSE CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
14. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2025 £ Current assets 10,741 Creditors due within one year (3,000) Total 7,741 |
Total funds 2025 £ 10,741 (3,000) 7,741 |
|---|---|
Analysis of net assets between funds - prior year
| Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 17,120 (13,000) 4,120 |
Total funds 2024 £ 17,120 (13,000) 4,120 |
|---|---|---|
15. Related party transactions
During the period, the Charity received donations from trustees totalling £23,300 (2024: £46,600). There were no restrictions attached to these donations.
Other than disclosed above and elsewhere in these financial statements, there were no related party transactions requiring disclosure for either the current or prior years.
Page 13