GISTII IIEI D COMPANY NUMBEI R: 08295130 (E< IiglAiid Aii(I Wales) REI GISTfi RL4'D CHARITY NUMBfi,R: 1151222 Re ort of the TrL15tees and Alidited Financial Statements foi. Ilie Yeai. Ended 31 Marc)) 2025 for Lisieiix Trust Liinited Ciiio Professional Seivices Lid, Staliitory Aiidilois Ciiro House Greenbox Weslonliall Road Broinsgiovc Woi"ceslershii'e B60 4AL
LisieLlX Ti'usl Liiiiiled Contei)ts of the Fiiiancial Sialeinei)Is foi. Ilie Yeai- Ended 31 Mai'ch 2025 Page Report of the Trlislees Repoi1 of Ihc Independeiit Auditois 9 10 11 Stateinent of Fiiiaiicial Activities 12 Balance Sl)eel 13 Casli Flow Staleiiieiil 14 Notes to the Casl) Flow Slateii)ent 15 Notes to tlie Fii)aiicial SIRlemenls 16 10 25
Lisieiix Ti'iisl Liiiiite(I istci'ed iiumbei.: 0829.51 J JO oit of ilie Ti'iislees foi. Ilie Yeai. Ei)ded 31 MaiElI 2025 The Ii'lislees who al'e also dii'eclors of tlie cliai-ity foi. Ilie purposes of the Coimpaiiies Act 2006. 1)Irsenl theii. I'ei)oit with the fiii<11icial sl<ileiiieiil.s of the chai'ity foi" tlie ycai. ei)ded 31 Marcl) 2025. The ti'iislees liave adoijted tl)e piovisions of Accoiinling aiid Repoiliiig by Clic1rilies.' Sialeinent of Recoiiimeiided Pi'actiee ai)plicable lo chai'ilies pi'epai'iiig Ilieir ac¢ouiits ii) aLcoi'd¢incc willi Ilie F,inancial Rcpoi'liiis Standard ai)plicable iii the UIC aii(l Repiiblic of li-elaiid (FRS 102} (effective l Jai)Liai'y 2019). The aiiii of Lisieux Ti'usl (the Chai'ity} is to siippoi1 people with a leai'ning disability ai)d aulislic people. eiiipoweriiig tliem willi tlie coi)fidence lo clioose the lifc Iliey waiil lo live, and to mal<e it happei). Established iii 1984 Lisieiix Ti'LlSt iiow siipports 58 local people willi leai'ning disabilities aiid l<Utistic people, iii I'esideiilial cal'e l)OlllLS and it) SLlPPOI'led accomiiiodalion. All suppoi'l is pi'ovi(led it) pi-operlies based in Noiih Biii)iiiighaiii aci'oss the Ei'diiigloii 311d Siillon Coldfield airas. The valiies of Lisieiix Ti'usl are: We al'e WELCOMING.. We al'e welcoiiiing and appi'oacliable by iiatiire. OLII. cai'e, kiiidiiess aiid sense of fui) is I'adialed Iliioiighoiil oiii- oi'ganisalioi) aiid people. We cali be TRUSTED.. We ki)ow what Mie al'e doiiig. We liave been siipi)oitting people with leaiiiiiig disabilities aiid aiilisiii foi- ovei. 30 yeclls, dl)d tl)I'OLigl) releiitless coniiiiiliiient lo higli-quality cai'e, fainilies can triist lis lo look aftei. tl)eii' loved ones. We al'e all aboiil INSP1114TION'. Every day is beaiitifiil. We iiispire OLII. Iieople lo live theii- best lives, aiid every day wc al'e iiispii'ed by the people we siippoit. We al'e FUN.. fiii) 11¢1ppens naliii'ally becaiise Olir team Sove ai)d believe in iv5)al Iliey do. Oui. appi'oacli lo cal'e pi'oii)oles aiiibitioi) ai)d oppoitiiiiity, wliich Inakes eveiyoiic happy. We proinote CI401CE.. Wc believe oui. people sliould live life as they choose. full of Il)e things they love lo do. We are oil a jOLlI'ney togetliei., and we'i'e dedicated to suppoi'ling oiii. peoi)le lo Ihi'ive. Tlie Ti'uslee5, who at'e dii'cctoi's linder coinpany law, pi'eseiit Iheii. repoit will) the fiiiaiicial slalemenls of the coiiipany for the yexi. ended 31 March 2025. The Tiwstees liave adopted the i)IDvisioiis of Accounting aiid Repoiling by Cliai'ities.. Siateiiieiil of Recoillinended Pi'aclicc api)licable to chai'ities pi'epai'ing Ilieii. accoiiiils iii accoi'dance witl) Ilie Financial Repot1ing Slaiidai'd applicable in t5ie UIC and Repiiblic of Ii'eland (FRS 102) (effective l Jaiiuaiy 2019). OBJECTIVES AND ACTIVITllI S Aiins aiid objectives Tlie Cliarity's objccts, as staled i¥iihiii the Meiiioi?ndiim & Articles of As50cialion al'e to Irlieve the iieeds of people Ivith disabilities ii) paiticiilai., bLIt iiot excliisively, leai'iiii)gF disabilitie5 in Waiwicksliii'e, Soliliiill, Walsall, Slaffordsliii'e aiid Biniiiiigliani City, a.q the 'fi'uslees sliall (letei'iniiie. The Ini48ion of tl)e Cliarity is to siipport i)eople willi a leai'ning disability. aiitisin, oi. boili, and eimpowei. tlieni willi Ilie coiifidei)ce lo clioose Ilie life Iliey waiit to live, aiid Ial<e it liappen. Voliiilteeis Oihei. Ihdn tl)e Ii'iislees, tliei'e wei'e Iwo otliei. voliiiiteei. diii'iiig tl)e yeai.. Piiblic benefit The Ti'lislecs liave I'efei-l'ed to tl)e giiidance contained in Ilie Chai'ity Coinmissioii's general gliidance on Pliblic bei)efst wlici) I'eviewiiig Ilie Clicll'ity's aiiiis and objectives aiid iii plai)i)ii)L, fiitiii'c aclivilies. Iii i)ai'liculai', tl)e Ti'iislees considei. liow pl<ll)ned aclivitics ivill coiiti'ibiile to tl)e aiiiis (2nd objectives tliey have set. Ilage I
Lisieiix Ti'iist Liniiled islei'ed i)Liiiibei': 082951.30 Ile oil of Ilie Triislees roi- the Year Eiide(13 l Mairl) 2025 OBJEt CTIIIEI S AND ACTIVITIEI S Holy oiii- xctivities pi'oviile i)ublic beiiefit All of Ilie Cliai'ity's activities fociis iipoii tl)e pi'ovisioi) of siippoitt aiid a¢coiiiinodalioii foi. people witli disabililies aiid are 111)deilakc.n to fiii'iliei- Ilic oi'gaiiisalion's cliai'itable piii'poses foi- the i)IibliL bciiefil. Achievemeiit aiiJ Pei'foi'maiice ClIAI'itable nctivities Lisieiix Ti'LlSt pi'ovides 24-lioui' I'esidential accoiiimodalioi) aiid siipported livii)g piyjjects Iliat offer fiill tenancy I'iglils. Siippoi'l wiiliii) I'esideiitial aiid suppoited living accoinmodalioii is alway5 lailoi'ed lo each persoii based on wliat they tell Ilie Chai'ity about Ilieinselves and theii. wishes aiid iieeds. It I'L?iigcs fioin pioiiiolioii of daily liviiig skills, ii)depeiideiit Ii'avel, access lo woi'k, fijrihei. ediication, Irainiiig and leisiiit Mclivities. T]ie i-esidciilial seivices and the services piovided it) tlie siippoi'led living piDI)ei1ies al'e I'egistei'ed will) Ilie Care Quality Coiminissioii, eiiabliiig Lisieux Tnist to piovidc pei'soiial c.ai'e lo tl)e residents and leiiants should tliey i'equire it. At the yeai. end all Ti'iist Itgislei'ed Services wei'e jiidged as being'ovei'all good, by the i'egulalor. Fi'aiicis Hoiise was last visited by CQC iii Febi'iiary 2022. LisieLlX House was also visited by CQC 111 Febi'iiaiy 2022, tlie last visit foi. Suppoiled Liviiig was in Septembei. 2019. Vesey Road was visited iii JLlI)e 2025 Ejnd received a GOOD I'aling, a iiiajoi. inii)ioveinenl fi'oiii the inadeqiiate repoi'l il Iiad i¥lien we look on its iiiai)agement in 2022. All of tlie I'esid¢nlial and suppoited living seivices al'e audited oil a I'eg7iilai' basis by Lisieiix Triisl manageiiieiil k)iid pei'iodi¢1<lly by Bii'iiiiiiLJliaiii City Council anil CQC.. These aiidits ideiilify issiies to be resolved, areas of high pei'foi'inai)ce, and Ri'eas wlieiE cl)anges can be Inade lo eiihaiice the seivice offei'ed. Tlie aiidils play a critical role in tl)e culiiii'e of coi)tiniioLIS i1111)ioveiMent wliicli tl)e Ti-lislecs see as vital lo Il)e 01)goiiig sustaiiiability and success of tlie Cliarity. Lisieiix Trust coiitiiiues lo receive positive fcedbacli fi'oiii the i)eople it SLlPPOI'ls, Ilieii. fainily membeis aiid fi'iends, and exlcriial piofessioiials, iiicludiiig thi'oiiLFI) the C.liarity's aiiniii< I qiiality audit qiicstionnaii'e. Tlie Ti'uslees considei. that Iliis woiild not be the case wiihoiit the dedicalioii aiid coinimi1iiieiil of tl)e Chai'ity's cmployees Mnd volunteers. Lisieux Ti'ust believes iii valiiiiig ai)(I suppoitiiig eiiiployees 11iiougli I'egulai. foi'iiial and infoi'nidl reviews aiid Ihroiigl) a I'ai)ge of Ii'ainin&y ai)d deiielopiiieiit opporliinities. Robiist reci'uilineiit pi'ocesses ei)sure Iliat LisiciiA Ti'ust eiiiploys oiily Iliose people who cali dei)ioiisti'ale a eoiiiimiliiienl lo Ilie Charily's valiies. Ai Ilie yeai. ei)diiig Mai'ch 2025, Lisieiix Ti'iisl siipi)oi'led 29 adults in I'esideiilial sei'vices iii Boldinei'e 311d Sulloii Coldfield and 26 a(liilts iii suppoi'leil liviiig pi'ojects based acioss Noi'ilJ Bii'iniiigham. All of the people SLlPPOI'led aiE aLilislic oi. have cl leai'iiing disability. l)age 2
Lisicuk Ti'u81 Liiiiiled Jislei'e(I iiiii))bci': 08295130 oit of Ilie Ti'iislees foi. Ilie Yeai. Elided 31 Mai'LI) 2025 ACIIIEIVEIIqLNTS AND RFORMANCL Sti'Ategie plAii aiid pi-ogi'ess li) Mai'cli 202), the boai'd set a iiew sli'alegy foi. Ilie pei'iod 2023-2028 witl) tl)e sli'alcgic goals liste(I below. Tliese wei'e reviewed by the Boai'd diii'iiig 202415 aiid I'einaii) Vi£ li(1. l. We will be a inoi'e diveise organisatioi). 2. We will grow, recogiiisii)g that without LJIDWII) Iliei'e is an inheitnt i'isk lo oiii. finaiicial and 01)ei'atioiial viability- 3. We will coiiliiiiioiisly iiiiprove tlie way we work, fociisiiig on sustainability and iiiiiovatioi). Substantial piogress lias beeii i))ade agaiiisl all tlii'ee gFoals'. l. Divcisity.. Work on this pi'ojecl, coinineiiced, as planiied, iii 2025-2026 and 51aited willi a tl)oioiigh review of the diversity wiihiii oui. existing resideiits, tenants aiid staff. We al'e now fociising 01) ensiii'ing that oiii. key policies and piDcediii'es al'e iiiclLisive and actively siippoi"I lis 10 ii)ake eveiyone feel welcoiiie. 2. Growth Diiriiig 202415 we worked oli acqLllI'lI)&i aiid opeiiing lip Il)I'ee Iiew SLlPPOlted living i)iopei'lies ai)d we iiioved oiit of aiiothei. in pi'epai'ation foi. i'efiii'bisliineiil. Tliis will ci'eale 13 ad(litional places and takes us fiiiilici. towards oiii. sli'alegic goal lo glow by 25 % by Il)e eiid of 202617. Woi'k coiiliniied oil the pi'oje¢t to eiisuiE Ilie I'esideiits iii the cal'e liome5 have access foi. niore acce5siblc accoininod(Itioii. Diii'iiig tl)e yeai- endiiig 2024, Ilie boai'(l of ti'iistees agi'eed to i'eilevelop a suppoirted livingTr sile ii)lo a Inoi'c ac¢essible cal'e lioime. Tliis new sile will IEplacc one of Ilie exisliiig cal'e hoiiies wl)icli pi'ovides liiiiiled accessibility. Work 011 this piojecl coiitii)Iicd Il)I'OLigh 2024125. As oui. services gl'ow, so will oiir woi'kfoi'ce, i-isii)g to 130 people witliii) our teain in the yeai. lo 31 Mai'ch ?026. 3. ImpiDveinent A pi'operty coi)SLiliai)t was eiigaged to coiidiict a review of Ilie pi'opeity poitfolio. Tl)iq I'evi¢i¥ identified Ilie ciii'i'ciil coi)(lilion of the piDperlies aiid any fiitui'e I'isks aiid opi)ortiiiiities foi. eacl) one. Tliis SUPPOrts Ilie deliveiy of plaiiiied pi'evelitalive iiiaiiileiiai)ce aiJd provides oplioiis foi. iiiaxiiiiisiiig Il)e use of ciiri'ent piopei'lies. Tlie board woi'ked with exlei'iial $1)eciali.st siii)i)oiI to Liiideitake a tIioiDiigh I'evieiv of oiir govei'iiaiice aiid leadei'ship ai'i'aiigeineiits; a pioject wl)icli I'esulted ii) ali agreed BoAI'(l Developineiit plaii. A ti-iislee-lcd i¥oi'king LFI'OilP was i)Iil iii place to iiiipleimeiit tlie recoii)Iiiendalions. Oiir pei'iyaiiei)t CEO wei)t oli Iiialei'iiily leave iii Janliaiy 2025, I'eplaced by an Inlei'ini CEO ivho's Itmil iiicliides siippoiliiig this and othei. ai'eas of iliiPlDveii)enl. PaL?e 3
Lisieiix Ti'u.41 Liiiiile(I isILI-e(I iiiiiiibei.: 08295130 Ile 011 of Ilie"fi'Lislees foi. the Yeai. Ei)de(131 Mai'cl) 2025 Ris1< I'eview Thc Ti-Iistee5 liave assessed the Inajoi. I'isks to wliich Ilie C.liai'ily is exi)osed ai)(1113ve systeins iii placc to Inaiiage Il)ose I'isks. Tlie Cliai'ity's I'isk I'egislei. is i'eviewcd quartei'ly, aiid key I'isl(s aiid iiiiliglllions discussed by Il)e I"I"ustees via the Fiiiaiice aiid Risk siib-con)niitlee. T]ie Cliarity contiiiues lo aiiiiually review aiid eiihai)ce its systeiiis of ii)lei-nal contiol, ii)cliidiiig I'eviewing key policies ai)d pio¢ediiiES, sei'vice aiiilit pioces5es and I'eportiiig foi'nials, liealth aiid safety PIDcediii'es aiid alidits and pi'opeily iiianagement PlDcesses. The most sigiiificaiil risks being ii)anaged diiriiig the yeai. eiidiiig Mai'cli 2025 wei'e.. l. Tlie owneis of two of out. I'esideiitial home propei'lies undeitook a ynajoi. review of Ilieir pi'opeity portfolio wl)ich coiild have i)laced tliein both al risk. The Boai'd of Lisieiix TrLisI al'e satisfied tl)at adeqiiale Ineasiii'e5 1)ave been lakeii to ensui'e we can coiitiiiiie to piovide I'esideiilial liomes foi- tl)ose wlio woiild have been affected. 2. 111 2023, Ive took 01) the 11)aiiageineii1 of a specialist I'esideiitial hoine that liad beeii assessed as Jnadeqiiate by Ilie CQC. Oui- oil)ei- lioines al'e iated as 'GOOD" and iiiitil I'easse.qsed, Iliis was a polei)lially SiLJiiificanl I'isk to oiii. pi'ofessioiial replltalion. T])e Registered Maiiagei. and entii'e teaiii have woi'ked liai'd even siiice to dciiioiisliably iniprove the quality 5taiidRI'ds and I'esidents, expei'iei)ces. Tliis lioni¢ Nvas I'evisited by Ilie C.QC iii Jiine 2025 aiid i'aled GOOD. 3. Tl)e fiiiai)cial eiiviroiimenls foi. both chai'ilies aiid cai'c pi'oviders I'Linaiiis challeiiging. T]ie Lisieiix TrLisI has cominitted to giowtli aiid impiovemeilt Iliroiigh its Strategic Plaii 2023-2028, placing L1ddilional pi'essure on existing i-esoiii'ces aiid incoiiie genei.alioii potential. Oui. existiiig seivices conliiiiie to opei'ate on a full cost recoveiy basis aiid oui. iiicoine genei'alioii ai)d cost iiiaiiageinenl activities I'etLlI'iied a balanced yeai- eiid posilioii. Piojects wiil)iii our giowlh pla115 are tested iiidividlially and in against Iheii- iinpxcl on tlie cl)hi'ily as a whole to ensiii'e ve I'emaii) financially siislaiiiable dLlI'ing and beyoiid the growth pei'iod. These I'isks are assessed and Inanaged b)1 the Fiiiance and Risk Slib-coiniiiittee via the risk I'egisler wliicli is updated on a qLiarlei'ly basis. FINANCIAL REIIIEW Fiiiancial positioii Tlie Charity ¢oi)tiiiues lo 01)erate oil a .quslainable fii)aii¢ial b1( SIS, ¢ible lo geiiei'ale siifficieiit incoine lo offset operating costs aiiil siipport Ilie Inaii)leiiaiice of Il)e declai'ed I'eseivcs policy, eveii dui'ii)g a i)ei-iod of planned gi'owtli ai)d iiiveslment. PI-iiicii)I I fiiiidiiig sources 80% of the Cliai-ity's fiii)dii)g 15 obiaiiied Iliiougli setvices piovided lo local auihoi'ilies ai)d the NHS. iii pai1iciilar Ihi'oiigli adiilt social cal'e fuiidiiig. Tlie Chai'ity lias coi)tiiiued lo I'eceive aiiiiual iiici'eases on tl)e SLlPPOIt packages pi'ovide(l ivhicli l)ave I'esiilied iii ai) iinpioveinei)l in the Charity's ovei'all incoine positioii. During Ilie yeai. ei)diiig Mai'cli 2024, Bii'niii)gJliam Cily Coiii)cil br(iuglit dii'ecl payiiieiils iii line willi tlieii. otlier fuiidiiig sti-e<11ns. Tliis iiiellns Il)l( I dii'ccl payii)eiil holdeis I'cceive ali aniiiial Liplift iii Ilicir fiindiiig. Page 4
Li5ieiix Ti'LlSt Liiiiiled istci'ed Iiiiimbei.: 082951.30 a)ort of tl)e Ti'iislees foi. the Yeai. Ei)ded 31 Mai-cli 2025 FINANCIAL REVIEtlV Resei'ves i)olicy Tlie Ti'uslees I'eviewed the Resei'vcs Policy iii 2023 aiid ainei)(led botli Il)e i)ieiliod of calculating fl'ee i-eseives ai)d Ilie level of fl'ee IEsei'ves reqiiii'ed, Ihis is dlie to ihe Cliai'ity piircliaqiiig a pi'opei'ly by taking oli a secured loai). The Chai'ity now aiiiis to i))aintaiii Lllll-esli'i¢ted fliiids, wl)ich al'e the free I'eseiveg of the C.hai'ity, al a level tliht eqiiales lo Iliree lo six moiiilis of the iiext year's foi'eck)sled iii)re5h'icled exi)enditiii'e. (2024- 3.65 moiiilis). The Trlislees confident tlial Iliis level of I'esei'ves al'e siifficieiit lo covei. aiiy iiiiforeseeii decline or delay ii) fiinding, oi. othei. unexpected cii'cun)staiice ai)d Ilial Ilie iiiii)leineiilalion of 2023-2028 stralegy will iinpiDve the level of reseives ii) Ilie InediLlllI lemi. Tlie I'esei'ves levels al'e cai'efiilly n)onitoi'ed thi'oiigliout tlie year. The free I'eseives are now calculated Lising lolal fixed assets less any seciiied loaii. Iii the yeai. ei)ding 2025. Ilie fire i'eseives lielil wei'e eqiiivalent to 3.111)01)Ilis of expeiiditLlIt. Tlie budgeted levcl of free reserves foi. the yeai. endiiig 2026 is 1.8 Inoiitl)s of expeiiditure. De5ignate(I funds Ti'iislees I'eview Ilie designated fiillds of Ilie Charily on ali aiinual basis- coiisidei'ing new developmeiit oppot1iinities and i-isk managemeiit plaiis foi. the oi'gaiiisalion that have ariseii (liii'ing tlic yeai.. Lisieux Ti'u5t has no designated fiiiids fts al 31 Mai'cli 2025. STRucfuRE, GOVEI RNANCE AND MANAGEMf< NT Govei'iiing document l.isieiix Ti'iisl Liinited is a coinpai)y liiniled by giiaraiitee (Irgsislei'ed iiumbei. 08295130) wliich was iiieoryoi'ated oil 15 Noveinbei. 2012 aiid acl)ieved chai'ilable status 011 13 Jaiiiiaiy 2013 (registei'ed niiinbei- 1151222). The Trust was established uiidei. a Meiiioraiidliin of Association wliicl) establislied Ilie objects aiid poweis of ilie Ti'ust ai)d is govci'ned iiiidei. ils Articles of Associalioii. Iii the eveiit of tlie Tiiist beiiig woiiiid lip nieinbei's al'e i'equii'ed lo coi)ti'ibLile an anioLint not excee(ling £1. ReLt'iiitmeiit an(1 ai)poiEitment of iieiv ti'iistees Tlie Dii'e¢toi's of the coinpai)y are also tlie Cl)ai'ity Triistees foi. Ihe i)urpose of Cl)ai'ity law. The Chai'ity is adinii)islei'ed by Ihe Trustees, wlio Ineet quailei'ly as a boai'd lo provide ovei'siglit aiid I'eview of the opei'alioii of thc c.harity. Tliese Ineeliiigs al'e recoi'ded. All Ii'iistee appointineiils al'e made will) diie I'egFai'd to tlie i-ai)ge of slcills I'eqiiii'ed by tl)e Boai'd ai)Il the I'elevaiit expeiieiice aiid kiiowledge offei'ed by the poteiilial ti'iislee. In 2024-25 one iiew Ii'uslee was appointed Mr Gai'eih Cl)andlei'. Op'gAiiisatioiial sti'uetui'e 'ri)e day-to-duy biisiiiess opei'atioii of Lisieuk Trust Liiiiited is delegated by the Boai'd Liiider I'atified job desci'iptions, lo tlic followii)g pei'soiii)el: Cliief Execiitive siippoi1ed by the sei)ioi' Ini< l)ageiiienl lei£ 111, eonii)I'ised of Ilie Head of Operations, Ilie 14ead of Fiiiaiice, Head of Eqtates aiid Ilie Head of Hiiinaii Resoiirces aiid A(Iiiiiniqli'ation Tlie. Aea(l of Fiiiaiice is respoi)sible to Cl)ief ExecLltive. Mai)ageiiieiit accoiii)Is aiid all aspects of fiiiaiicial govei'iiance ait I'eviewcd 01) a quai'lei'ly ba.qis, both by tlie Fiiiance aiid Risk Sub-coinmillee of tlie Board aiid by Ilie Board itself in Ininliled iiieeliiigs Daily 01)ei?lioi)al fiinctioii is overseei) by (lie l-leail of Oi)ei'ali0115. Tliei'e air a teain of Ilegislei'ed MaiiagetE eacli of wl)oiii dii'ebily iiiaiiages a leaii) of ciiii)loyees. Tliei-e is (i Qiiality aiid Coiiipliai)ce Cooi'dinalor ivl)o I'epoi'ls (lii'ectl), lo Ilie Helld of Operations. Tlie Head of Hiiinaii Resoiiires aiid Admiiiisti'alioi) ovcrsees I'eci'iiitillent, einployee I'elalioiis activity, aiid Tl)e l.lead of Eslales lead5 all pioi)ei'ty-i-claled iiiattei's incliidiiig deliveiy of tli¢ pi'opei'ty 511'ategy, I'epairs aiid Inaiiilenancc, Inaiiageii)eiil of leases, acquiqitioiis ai)d (Iispos£lls. 'fhis I'ole lias beeii inlioduced iii Noveiiibei. 2024. PagTe 5
Lisieux Ti'ii%t Lii)i iled islei'ed i)Lll)Ibei': 08295130 )oit of Ilie Ti'LisIccs foi. Il)e Yeai. Endecl 31 Mai'ch 2025 STIIUCTURE, GOVEI RNANcf. AND MANAGIMCI NT Iii(luetioii Aiid ti'Aiiiiiig of iieiv ti'iistees Aiiy i)ew iiidividiial ii)tei-eslcd iii becoi)iiiig ali active dii'eclorl ti'iislee is giveii Ihc latest i)iiblicalioii of Ilie Cliai-ity Comiiiissioii booklet "fi-lislee Respoiisibililies" 1< nd ai) ii)foi'iiiatioii i)ack iYg<irdiiig the woi'k of Ilie Ti'(1g1. Tlie Cliief Execiilive ii)vites caiididales to view Ilie 01)ei'alioiial activities of the TrLlSt fi'oin Head Office Ciiiiclioii IIiioLigh lo the siipport delivei'ed at the propeilies. Tlie iiitei'esled paity is iiiteiwiewed by ali iiitei'view paiiel of exisliiig TrLlStees. Followiiig a siiccessfiil interview, tlie pai'ty is iiitiodiiced lo all Boai-d iiieinbeis, aiid ¢1 Vote is taken at the Boai'd wl)eiliei' lo Ri)poinl. Ti'aiiiiiig is availLible Iliioiighoiil the yeai- on any relevaiil C.liai'ilable aiid opei'ftlioiial iiiattei's supijoited by discussion witliin Boai'd Ineeliiigs. Iii i'espoi1se lo oiii. Govei'i)aiice Rcview we have iiilroduced iiew Ii'ainiiig oppoitunilies foi. Iruslee5 aiid iii 2025 al'e I'eci'iiiliiig iiew illeiiibeis to join Ilie Boai'd. Iviclei. iiehvoi'k A Idlge pci'centage of tl)e C11c11-ity opei'ationnl iiicoine is depeiideiil oli coi)Ii'acls with local aiiihoi'ilies. As a resiilt, close Ivoi'kiiig IEl<ilioi)sliips al'c forged iwiil) visiliiig pi'ofessioiials SLicli as Ioctil aiiilioi'ity So¢i31 Woi'kei-s, as well as Ilie f2( mily meinbei-s and fi'ienils of Irsideiils aiid lei)anls. Allied lo tliis, iiiiicli of Ilie Chai'ity activity is LJovei'iied by legislation and slaiidards sel by a vai'iety of local govei'niiieiit depai'tiiicnts. The Cliai'ity's woi'li is I'egiilai'ly ii)si)ectcd by exlei'i)al ageii¢ies. Coi)siiltanls woi'liiiig iii specialised ai'eas oiitside of Ilie Cliai'ily's activity are engaged as and ii,lien iiecessaiy. Iii Ihe year endiiig Mai-¢h 2025, coiisiillaiits ivei'e iitilised to 8ui)port Ilie oigaiiisalioi) iii areas sucli iL s fil'e safety, walei. safety, l)ealtli and safety, eiiiployiiiei)t law, i)laiiiiiiig, legal advice aiid building desigii. The Cliarity has I'egFiilai' contact ivitli oilici. national aiid local oi'ganisalioiis where there is a shared affii)ity for provi(ling Iiigli quality siipport foi- pcople willi disabilities. Imi)act We offei. accoiiiiiioilcltloll dl)d dii'ecl siii)poi'l Iliioiigli a closely pei'soiialised iiiodel of cai'e aiid siippoit that is higlily tailoi'cd lo Imeel eacl) pei'soiis specific iieeds ai)d pi-cfei'ei)ces. We woik willi i)eoi)le lo biiil(l a cal'e plaii Il)al helps them a¢hieve tlicii- go?¢ Is, I'egularly I'evicwii)g Iliis iviil) Ilieiii, Ilieii. faiiiilies, pi'ofessioiials and oil)ei' suppoi'l. TS)is helps lis lo I'ecognise aiid celebi'ale iiidividuals, giowii)g coiifideiice aiid skills. Oui- valiics aiid PLlI'pose al'e ceiili'ed aiound iii(lividLialised cal'e ai)d siipi)oi'l so eveiyoiie wlio lives willi us has a diffei'ent expei'ieiice All(l il is difficiili lo collate a data set tliat demonsli'atcs Il)e cliai'ity's ove1?11 iimpact. WL use foriJ)cil and infori)ial feedback Inechai)isins lo I'egiilai'ly check that peoplc feel tlial they al-e well supporte(l Liiid I'eceive good caie. We publisli, ii) fiill, the I'esiilis of OLII. aniiual siirvey I'esponses fiDm Ilie i)eople wlio live witli LIS aiid Ilicii. fainilies and oiii- st<iff. Tlie 2024 rei)oit is available liei'e: l)ttps'.l/lisieii¥ti'iisl.01-g.ukli¥p-conteiiiliii)102c cls1202411115ltisfaclion-5urvey-2024.pdf aiid also iiicliide5 infoi'i))atioi) aboLIt ai'eas we al'e iiiipioving as a I'esult of Iliis feedback. 111 2024's siirvey.. 100 /0 of oiii. rcsideiils and leiiai)Is said Ilial tlie}I like tlieir staff teaiii 100 % of faiiiilics aiid fi'ieiids said tlial Iliey wei'e Iiappy oi. vcry liai)py ivitl) Il)e Siippoi'l Ilieii- loved 01)e i-eceived. 100 % of faiiiilies an(1 fi'ieiids said tl)at Iliey would recoinineiid the Lisieiix I'rLisI lo oil)ei' people lookiiig foi. a Specialist caie aiid SLIPPOI-I i)iovidei'. 92 % of 0111- Staff Iliat Iliey woiild I'ecoi)iineiid the Lisieiix Triisl as ali einployei.. REI Fri RENCE AND ADMINISI'RATIVE DEI TAILS Registei'e(I Coiiip¥llly Iiuiiibei. 08295130 (F.Iiglaiid ai)d Ivales) Pagc 6
Lisieux Ti'iist Limited Re iislei'e(I i)1111)bei': 0829.%130 oit ofthe Ti'lislces foi. tl)e Ycai. Ende(131 Mai'cli 2025 Registei-ecl Chai'ily niimbei. 1151222 Ilegis(ere(l office 79 M£21'slI Laiie Biriniiigl)ani West Midlaiids B23 6HY I"i'ustees 11 R Nagle P M Liicas E A Fi'uei. G Hai'i-i5 S A Mooi'e A Nafees N H Dowiis G Cliaiidlei. {appoiiiled 9.12.24) AuditOl-5 Ciii'o Piofessional Seivices Ltd, Sialliloi'y Aiidiloi Cui'o Hoiise Gi'eeiibox Weslonhall Road Bioiiisgi-ove Woirestershii'e B60 4AL Baiiliei's Tl)e Co-opei'ative Bank PIC Bii'iy)iiighani Biisiness Cei)ti-e POBox82 118-120 Colinoi'e Row B3 3BA Cliief Ei xecutive orricei. Jessica Alsop-Gi'eeiiaci'e Siisan Hoaili was appointed as intei'iin CEO ii) Jai)iiaiy 2025 foi- 12 Inonilis lo Jaiiliary 2026 whilst Jessica was on Inatcriiity leave. TRUSTEI E4 S, 11[4 SPONSIBILITY STATEI ME< NT The tl'lislees (who al'e also Il)e dii'e¢loi's of Lisieux Ti'iisl Liiiiiled foi. tlie piiri)0ses of compaiiy law) al'e I'esi)oiisible foi. Iii'epariiiL, the Repoit of Ilie Ti'iislces and tl)e fiiiaii¢i1< l .qlateinciils in accoi'dance willi applicable laiv ai)d Uiiiled Kiiigdoi)I Accoiinling Slaiidai'ds (lJiiited lciiigdoiii Genei-ally Accepted Accoiinlii)g Pi'aclice). Coinpaiiy law I'eqiiii'es the Ii'uslees lo pi'epai'e fiiiancial slaleimeiils foi- excli fii)aiicial yeai. wliicli give a liiie and fail. view of the slate of Élffdll's of Il)e chai'ilable coimpaiiy ai)d of Ilie iiicoiniiig I'e8oui'ces and ai)i)licalion of I'esoiii'ces, iiicliidiiig Il)e iiicoiiie aiid expendiliiiE, of the cliai'ilable coiiipaiiy foi- Ilial pei'iod. Iii prcpariiig 11i0se fiiiancial slatei)iei)Is, Ilie tl'lislees al'e I'equired to selcLI siiilable accoiii)liiig i)olicies lid Iheii apply Iliciii coiisisteiiily. obseive the Iiieilio(Is ai)d pi'inciples it) Ilie Cliai'ity SORP. make jiidgFeiiieiit8 aiid esliiiiates Il)al are I'easonable 2¢ iiil pi'iideiil; pi'ei)ai'e Ilie fiiiai)¢ial statenients 011 tl)e &ioiiig coi)cei'i) sis uiiless It is iiiappi-OPl'i<ile to i)I'esiime Iliat the cliai'ilable coiiii)aiiy will coiiliniie iii biisines5. Page 7
Lisieux'fi"usl Lii)iilcd )oit of tlie Truslecs foi- tl)e Ye. Ei)(led 3 l Mai'cli 202 TRUSTEI Ei S, REI SPONSIBILITY STATEI MENT- contiiiiied Tlic hustees al-e i'esi)0118ible foi. keepiiig piopei. (iecoiintiiig I'ecords wliieh disclose willi reasonable acciu'acy at any tiine the fiiiaiicial positioii of thc cliarilable company and to enable them to ensui'e 1111( t the fiiiaiicial staleLneiils COTMply ivith the Compaiiies Act 2006. They al'e also I'espoi)sible loi. safegiiai'din¥ Il)e assets of Ihe cliai'ilxble coinpaiiy and hei)ce foT lakinLy reasonable sieps foj. Ilie pi'eveIilion aiid detectioii of fraud and otliej. ii'i'egulai'ilies. Ill so far as Ilie tnjstees are awai'e: Ihei'e is i)0 relevanL ftudit inforniation of which the charitable company's auditors are Linaiiiai'e. and Ilie trustees have taken all steps that they ouglil lo liave laken to inake themselves aivai'e of any I'elevaiil aiidit infonn8tion and to Eslablish that the audiloi's are awai'e of Ihat infoiination. AUDITORS The audilors, Ciii'o Professional Sei'vice5 Lid. Slatutoiy Aiiditors, will be proposed for ie-appoinbnent ai the forthcoinii)g Aniiiial Geiiei'al Meeliiig. This IEport has been pi'epared in accordance with the speci811)iovisions of Pait l5 of the Compaiiie5 Act 2006 I'elaling to sniall companies. Approved by order of the board of trustecs oli 1191 and signed on its behalf by.. K R Nagl¢- Ti'uslee Page 8
Ile )oi'l of Il)e Iiide )eii(leiil Aiidiloi's lo tl)c Meinbeis of LisieLlX Ti-LisI Liiiiiled Oi)iiiioii Wc liave aiidiled tlie fii)aiicial slaleiiients of Lisieux Ti'iisl Liiiiiled (tlie '¢hai'ilable coini)any') foi. Ilie year eiide(I 31 Mai'cli 2025 wliicli coiiipi'ise tlie Statenieiit of Fiiiaiicial Aclivilies, Ilie Baltince Slieel, Ilie Cash Floiv StaleiJeiil aiid nolcs to Il)e fii)aiicial statemci)Is, inclii(ling a siiiiiinaiy of sigiiificaiit accouiiliiig policies. Tlie financial I'¥poi-liilg fi-Hi)iei¥oi'lc tliat l)as beei) ai)plied iii Ilieir pi'epai'alion is applicable law ai)d Uiiited Iciiigdom Accoiiiiliiig Slandar(Is (Uiiiled Kingdoiii Genei'ally Ac'cepted Accouiiling PractlLe). Jli OLII. opinioii tlie finaiicial slateiiieiits: give a tl'Lie and fail. vieiv of Ilie slate of Ilie ¢liai'itable COliiP1¢ 1)y's affairs as at 11 Mai'ch 2025 and of 115 iiicoiiiing I'esoiii ces ai)d applicatioii of I'esoiiires, iiicliidiiig ils incoiiie and expeiidiliii-e, foi. Ilie yeal. tlici) ei)ded; liave been i)iopci'ly pi'ei)ai'ed li) ac¢oi'dai)ce witl) United ICiiig(loin Geneially Accepted Accoiiiilii)g Practice. and liave beeii pi'epai'ed iii accoi'daiice willi tlie IEqUlI'emeiils of Ilie Coinpanies Act 2006. Basis for opiiiioii Wc coiidiicled our aiidit in xccordaiice with Intei'iiatioiial Staiidai'ds on Aiidiliiig (UIC) {ISA5 (UK)) and applicable law. Oiii. I'espoiisibilities 1siidei- Iliose slai)(lai'ds ai'c fiiitliei. desci'ibed ii) Ilie Aiiditoi3' I'esponsibilities for the audit of Ilie fiiiai)cial slateiiieiils section of oiii. I'epoitt. Ive al'e iii(lependeiit of Ilie cl)ai'ilable conipaiiy iii aLCOI'daiice with Ilie eiliical I'eqiiii-emcnts that al'e i'elevaiil to OLII. audit of the fii)aiicial slateineiits in Il)e UIC, iiicliidiiig tlie FRC'S Ethical Siaiidai-d, ai)d we liave flilfilled oui- othei. eiliical I'espoiisibilities iii accoi-daiice witli these I'eqiiii'eineiits. We believe Iliat the aiidit evidence we Iiave obtained is SLifficieiil and appioi)I'iate lo pi'ovide a basis for oiii. opiiiion. Coiicliisions I'elatiiig to goiiig concei'ii Iii aiiditing Il)e fiiiaiicial slateiiiei)ts, we have concluded tlihl Il)e ti'uslees, use of Ilie goii)g conceiy) basis of accountii)g in tl)e pi-eparalioi) of tlie fiiiaiicial slalemeiils is applpI.1&1e. Based oil the woi'k we have pei'foi'ined, we liave iiol identified any Inatei'ial iincei'laiiilies Itlaling to events oi. conditions Iliat, ii)dividiially oi. collectively, Imay Cdst sigiiificftiil doiibi on the chai'itable coiiipaily's l< bility to coi)tiiiiie as a going Coiicei'n foi. a pei-iod of al least twelve nioi)Ihs froin when the fiiiaiicial slaleinei)ts aiE aiiilioi-ised foi. i5siIe. OLII. respoiisibilities and tlie I'esponsibililies of tlie Ii'uslees willi I'espect lo going coiiceni al'e desci'ibed iii Ilie relevai)t seclioiis of tl)is I'ei)oil. Otliei. iiifoi'matioii Tl)e Ii'iistecs al'e I'espoi)sible foi. Ilie other iiifoi'inatioii. Tlie oil)ei' ii)foriiialion coiiipi'ises Ilie iiifoi-iiiilion incliided in Ilie Ai)nLial Repoit, oihei. Iliai) the financial slaleiiieilts ai)d our Report of Ilie Iiidepcndeiit Aiiditoi's thei'eon. 0111. Opillioli Oli tl)e financial slalemeiils does i)ot covei. Ilie oiliei- iiifoi'matioii aiid, except lo Il)e exteiit othei'wise explicitly .qlaled in 0151. IEPOIt, we do iiol eApi'es8 ai)y foi'm of as5ui•n¢e conc1115ioiI Iliei'eoii. Iii coiiiieclion iviili oiii- aii(lil of Ilie fiiiancial 51aleimeiils, oiii. I'espoiisibility is to irad Ilie oiliei- ii)foi'iiiatioi) and, in doing so, coiisidei. Ivlicihei- Ilie oilier infoi'inalioii is iiiatcrially iiicoiisisteiil willi Ilie fiiiancial slaleiiiei)ts or oui. kiiowledge obtained in the aiidil oi. otliei'wise appeal's lo be Iiiatci'ially Imisstaled. If we idciilify siich Inaterial iiicongisteiicies or dppai'enl iiialci'ial iiiisslateiiieiils, wc al'e reqiiii-cd to detei'ii)ii)e wlieiliei. Iliis gives I'ise to a matei'ial Inisslalemenl iii the fii)aiicial slaleiiieiils tlieniselves. If, based 011 Ilie work we have pei'foi'iiie(I, we coiicliide that tliei'e is a niatei'ial Iniq.qtateiiici)l of tliis oilier infoi'iiimlion, we ai'c reqiiiiEd lo I'epoi'l tlial fact. We liave iioil)ing to I'eporl in Iliis regail. Opiiiioiis 01) otliei. niAtters pi-esei'ibecl by tlie Coiiipanies Aet 2006 Iii oiii. 01)iiiioii, based 011 Ilie H'ork iiiidei1aken iii the couise of Il)c aiidil.. Il)e iiifoi'iiiic lioii givei) in Ilie Repoi'l of the Ti'Lislees foi. Ilie fiiiancial year foi- wliicli Il)e finaiicial slaleiiieiits are )I'ei)ai'ed is coiisistenl willi Ilic fii)ai)cial slalei)ients,' aiid Il)e Repoit of the Ti-lislees lias bceii pi'epai'ed ii) accoi'daiice willi (Ipplicxble legal reqiiireii)eiils. Page 9
Repoi'l of tlie Iiidc eiideiit Alidilois to (he Meiiibei's of Lisieiix Ti'iisl Liinitc(I Mgttei-s on ivliicli ive Al'e I'eqiiii'ed to i'epoi't b)1 excei)tioii li) Ilie lig,lil of Ilie kiiowledge aiid undei'stai)d1iiL of Ilie cliai'ilable coii)i)any aiid 115 ei)viionnient obiaiiied iii tl)e coiii'se of Ilie alidit, we l)ave Iiol ideiilified malcrial iiiisstalLineiils in tl)c Ilepoit of Ilie l i'ustees. We have noiliiiig to I'eport iii I'especl of the following iiiattei% wl)ei'e tlie Conipanies Act 2006 reqiiii'es us lo Irpoit lo yoii if, in oiir opiiiion.. adequate accounliiig I'ecolS liave iiot been kept oi. i-etiirns adequate foi- oiii- audit liave iiot beei) I'eceived fiDm b171)clies not visited by us. oi. Ilie fiiiancial slalemenls aiE iiol in agi'eeineiil willi the a¢coiii)ting I'ecoi'ds and IEtui'iis; or ceittain disclosuiES of Iriistees, I'einuiiei'alioii specified by law al-e iiol Inade; or we l)ave iiol Itceived all Ilie infoi'inalioi) and explaiialioi)s we reqiiire foi. oui. aiidit,. oi. Ilie h'ustees wci'e not entitled to lake advaiilage of tl)e sinall coinpanies exemi)tioi) froin Ilie reqllli'eineiit to prepai'e a Siialegic Report oi. iii pi'epai'ing the Repoi'l of the Ti'iislees. Responsibillties of trustees As cxplained iiioi'e fiilly iii tl)e Trustees, Respoiisibililies Statemeiil, the Ii'iistees {wl)o al-e also the dii'ectors of the cli<lritable coinpany foi. the pui'poses of coinpany law) al-e I'esponsible foi- tlie pi'epai'alion of the fii18iicial slalemeiils ai)(I foi. beiiig satisfied Ilial they give a ti'iie and fail. view, aiid foi. SEicli intei'nal coiitrol as Ilie ti'iistees detei'mine is i)ecessaiy lo eiiable the pi'epai'alion of fiiiaiicial slaleineiils Ilial al'e fite fioni iiiatei'ial iiiisslateiiieiil. wheiliei. due lo fi'aud or eli1.. In pi'cpai'ii)g the finai)cial slateinei)ts, Ilie ti'iislees al'e I'esponsible foi. assessiiig Ilie chai'ila61e coiiipany's ability lo coiiliiiiie as a goiiig concei'n, disclosing, as api)licable, Iiiatteis I'elaled lo goii)g coi)cei'ii and iising tlie going coiicci'ii basis of accoiiiiting uiile5S the Iriistees eiihei. inleiid lo liquidate the cl)ai'ilable company oi. lo cease opei'ations, oi. have iio Iyhlislic altei'nalive biit to do so. Our i'espoiisÉbilities foi. the Hu(lit of the fInxi)eiAI statements Our objectives al'e lo obtain I'easoiiable assiii"an¢e abolit ivheil)ei' the finai)cial statetnents as a wliole are fiye fi-om nialei'ial Inisslateiiient, wliether diie to fi'aiid 01- ei'ror, and to issiie a Repoit of tl)e In(lepeiideiit Aiidilois tliat iiiclii(les oui- opinioii. Reasonable assiiiaiice is a Iiigli level of assiii?nee, bill is iiot a guaraiitee that ali audit coiiducled in accordaiice with ISAS {UIC) will always detect a matei'ial IiiisstaleFnei)t whei) it exi51s. Misstatenieiits cali ai'ise fioin fi'aud 01- eiTOI' aiid are considered 11)atei'ial if, iiidividiially oi. in the aggi'egalc, they coiild I'easoiiably be expected to infliieiice tlie ecoiioimic decisions of usei's takcn on Ilie basis of Iliese fii)aiicial slatemenls. Tlie exleiit to which oui. pioeediires are capable of delecliiig ii'reglilarilies, iiicludiiig fi'aud is detailed below.. Ii'i'egiilai'ilies iiicliide fi'aLid and oil)er inslai)ces of iion-con)i)liaiice will) laws aiid I'egiilalions. We design piocediires in liiie i¥itli oiii. I'esponsibililics, outlined above, lo dclect Inalei'ial ii)isstaleiiieiit5 11) I'espect of ii'i'egiilai'ities. The extent lo wliich 0112. piocediii'es are Capable of detecliiig iri'egulai'ilies is detailed below: IdeIitifying aiid I'esponiliiig to i'isl<s of niRtei'ial niisstAtemei)t due to fi'au(I The levcl of rislc aiid ability to dctecl ii'i'egiilai-ilies diie lo fi'aiid was coiisidered dui'iiig Ilie plaiiiiiiig stage of Ilie aiidit. A I'isk assessineiil was undei'lakeii, taking iiilo coiisiclei'atioii the Chai'ilable Coillpany's policies, pi'ocediiiES aiid eiioiiii'ies witli manageineiil. We comiiiiinicated ideiilified fraiid i-isks tlirouglioiit the aiidil teani and IEinained aleitt to aiiy iiidicatioiis of fiaiid tliiDiighoiil Ilie aiidit. As required by alidiling slaii(lai'ds aiid considei'ii)g oiii. ovei<ill knowledge of Ilie coiitiol ei)viroi)nienl, we peifoi'nied piocedLlI'es to addi'ess Ilie I'isk of niaiia(Yeiiieiit ovei'i'ide of ¢onliols aii(I Ilie I'isk of fi'aLiduleiil Ii'aiisaclioiis, iii pailiciilai. Ilie risk tliat Inaiiageiiieiil Imay be iii a i)osilion lo Iiiake inai)piDI)I'iale accoiiiitiiig enli'ies. We i)ei'fomied procediii'es includii)g'. Evaliialing the biisiiiess piii'pose of joiii'i)al eiitries aiid coiiipariiig tl)e ideiitified enti'ies to siippoiting docliineiilalioii. Evaliiatiiig Il)e buqiiiess piiipose of sigiiificaiil bank i)ayiiici)Is aiid I'eceiiils aiid coiiipariiig Iliese lo siipi)oi'liiig docLiiiicnlalioii. Wallciliroiigh and fiii'iliei. subslai)ljiye teslii)g 011 sales ai)d piirchases lo ideiltify weaknesse5 and ovei'i"ide of iiitei'nal coiilrols. Usiiigi aiialylical piocediii'es to i(leiilify ai)y iiniisual oi. 111)expected vai'iaiices. Page 10
oi'l of tl)e Iii(le eiideiit Aliditois to Ilie Meinbei's of Lisieiix Ti'usl Liiiiiled IdeiiÉifyiiig aiid R-espoiidiiig to l-i51is of matei'iRI misstatemeiit diie to i)on-coinpliai)ee ivitli IRivs and regiilatioiis Tlie level of risk aiid ability lo delecl ii-i'cgiilai'ities diie lo non-coinpliaiice willi laws ai)d I'egiilalions was considei'ed diirii)g the plaiii)ii)g stage of Ilie audit. A I'isk assessment was undei'lakei), taking into consideration tlie conipai)y's policics, procedui'es aiid coinpliaiice with laws aiid i'egulalions. Wc coimniuiiicated i(lentified laiv5 and I'egulations Ihi'oughoLIt OLII. team and Itmained alert to any indicatioiis of i)on-comi)liai)ce thioiiglioul the audit. The Chai'ilable Coinpai)y is siibject lo laws aiid I'egiilalioiis that directly affect Ilie fiiiaiicial stateincnls iiicliidiiig finaiicial I'epoilii)g aiid taxation legislalioii. We assessed the extent of conipliance with these laws and I'egulatioi)s as pait of our pi'ocedui'es 01) Il)e ielaled fiiiai)cial slatenieiit iteiiis. The Chai'ilable Compai)y is also subject to Inaiiy oilier laws aiid I'egulalions wliere Ilie conseqiiences of noii-compliance could liave a n)alei'11< l effect on amoiii)t5 or disclosiii'es in the finai)cial statements. Auditii)g staiidai'ds liinil Ilie I'equired audit proceduirs to identify noii-compliaiice with these laws and regulations to eiiqiiiiy of the dii'eclors and inspeclioi) of I'egiilatoiy aiid legal cori'espondence, if any. Thei'efore, if a breach of opei'ational I'egiilalions is iiol disclosed to us or evideiil froni I'elevant coi'respoiidence, an audit will not delect that bl'each. Coiitext of tlie Ability of the audit to (letect frau(l or bi'eaclie5 of laiv or i-egulation Owing to the inheiEnt liinitations of an audit, Ihere is an unavoidable I'isk tliat we infty not l)ave detected soine 11)atei'ial IlsstatementS in Ilie fiiiaiicial slalemeiits, even though we have piopei'ly plaiined and pei'foi'med oui. audit iii Mccoi'dai)ce willi aiidi1ing standards. For exainple, Iliere is 2c higliei. I'isk of 11011-delection of fi'aiid, as these Inay iiivolve collusion, foigery, inleiilioiial oiiiissions, iiiisi'epi'esenlations or Il)e overi'ide of iiiten)al contiols. Our audit procediii'es al'e desigi)ed lo delect Inatei'ial Inisstateiiient. We al'e iiot I'esponsible foi. preventitig non-coi))pliaiice oi. fiaud and caniiot be cxpected lo detect noii-con)pliai)ce wilh 811 laws and I'egiilalions. A fiirtlier description of oui. responsibilities foi. the audit of the financial slaleineiits is located 011 the Finaiicial Reporting Council's website al www.frc.org.Liklauditorsi'e5ponsibilities. This description foiyns pait of our Repoit of the Independent Auditors. Use of oui. repoit T]iis I'epoit is Inade solely to thc chai'itable company's Inembeis, as a body, in accoi'dance witl) Chai)tei' 3 of Part 16 of the Coinpanies Act 2006. oiii. aiidit woi'k has been iindeitakeii so that we IT]ight stale to tlie cliaritable conipaiiy's Inembei's those Iiiatteis we al'e I'equired to slate to tlietn in hn audilors, I'eport aiid foi. i)0 oilier pui'pose. To the fullest extent permitted by law, we do iiot accept oi. assume I'esponsibility to ai)yoi)e other thali the chai'itable company ai)d the cliaritable company's nieinbei's as a body, foi. our audit work, foi. this report, oi. for tl)e opiiiions we liave forined. Aiiiia Madden FCA (Senioi. Stattiloiy Auditor) foi- aiid 011 behalf of CUED Professioiial Sei'vices Ltd, Sialulory Aiidiloi's Cuio House Gireiibox Westonhall Road Bi'oi)Isgrove Woi'ce5tei'sliii'e B60 4AL Dale.. i/q12025 Pagell
Lisieiix Ti'iisl Liii)iled Staleiiieiil of fin<iiicial Activities foi. Ilie Yeai. Eiiclcd 31 Mai"cl) 2025 2025 Total fiiiids 2024 Total fiinds Unii"sli-icled fuiids Ilesli'icled fiii)ds Note5 INCOME4 AND EI NDOIViVAlI NTS fiROM Doiialioi)s and leL7acies 7,259 7,259 116,280 CIIAI'itable activities Sei'vice coiitiaLI iiicoine Oihci. cl)ai'ilable activities 3,757,074 28,477 3,757,074 28,477 3,250,466 12,911 Iiiveslniei)t incoine 41.101 41,101 44,729 TotAI 3,833,911 3,833,911 3,424,386 I XPEI NDITURE ON Cliai-it?É ble aetivities Wages, salai'ies, agei)cy fees and a550ciated c051s Propeity I'iini)ing costs Resideiils activities aiid allow1¢ lice5 Dei)I'ecialion at)(I disposal chai'ges PIDfessional fees Officc dili)iinisti'alioi) and i'uiii)ing costs 2,677,592 .574,764 55,121 2,677,592 574,764 55,121 81,353 132,648 341,566 2,325,119 461,309 46,820 44,069 65,603 29(),020 132,648 341,566 Total 3,863,044 3,863,044 3,238,940 Net gains on ii)vestiiicnls 35,044 35,044 2,895 Nfi.I' INCOME 5,911 5,911 188,-341 Rl<,CONCILIATION or riUNDS "rolal fiinds bioiigyhi foiivai'd 2,576,093 2,576,093 2,387,752 TOTAL f4 IINDS CARRIEI D FORWARD 2,582,004 2,582,004 2,576,093 -rhe notes foi'in i)ai1 of iliese fiiiaiJcial stcileineiits Page 12
Lisieux LL.irnited nist Baltce Slieet 3fMrch20 2025 Total fiiiid5 2024 Total futids Ui)restricte(I funds Restt'icted fuiids Notes rilXED ASSLTS Tai)gible assets Investtnents 2,370,879 844,619 2.370,879 844,619 2,279,498 814,384 12 J,215,498 3,215,498 3,093,882 CURRII NT ASSETS Debtors Cash dt bank and in hand 13 306,256 75,532 306,256 75,532 32J,681 143.488 381,788 381,788 467,169 CREDITORS Aiiiountq falling due within one year 14 (J29,513) (J29,513) (260,411) Tr4ET CUIiREI NT Ab8ETS 52,275 52,275 206,758 TOTAL A.SSETS LESS CURRII NT LIABJLITIES 3,267.773 3,267,773 3,300,640 CREDITORS noi?nts falling due aftei. more than one year 15 (685,769) (685,761)) (724,547) NET AssfiTS 2,582,004 2,582,004 2,576,093 riUNDS lJnresli-i¢ted fiinds 19 2,582,004 2,576.093 TOTAL r(UNDS 2,582,004 2,576,093 These financial slalemenls liave been pitpared in accoi'danee witli the piovisioiis appliLable lo charitable coiiipanies Subject lo ihc small coiiipanies I'etsiine. The ,lylig ateinen15 were approved by tlie Board of Trllslees and authoi'ised foi. issue aj) were sittned on ils behalf by.. on Ndgle- 1.rus 'I'he notes fomi pait of these fiiiancial slaleiiienls Page 13
Lisieii.x Ti'usl Liiiiiled Casli F.low £lalci)ieiit foi- Ilie Yeai. Eiidcd 31 Mairl) 2025 2025 2024 Notes C8s11 floivs fi'oni OllL'I'Xtii)g activities Cdsll geiieiate(I li'om 01)ei<ltioiis 125,461 (66,592) 140,025 {69,635) Nel cash i)IDvided by opei'aling activities 58,869 70,390 Casli floivs fi'om inve5Éing activities Piirchase of tangible fixed assets PiiiEI)asc of fixed asset iiiveslii)enls Sale of fixed asset iiivestiiiei)Is Iiiteresl I'eceived (172,735) (30,440) -35,249 41,101 (343,205 } {36,167) 20,637 44,729 Net cash iised in iiivestii)g activities {126,825) (314,006) Chiii)ge iii cAsli And casli equivaleiits ill Ilie i-epoi-fiiig i)ei'ioil CAsh ¥iIid eAslI eqiiivaleiits the begiiiiiiiig of Ille i-ei)oi'tiiig i)ei'ioil (67,956) (243,616) 143,488 387,104 Cash aii(I casl) equivaleiits At the eiid of tlie i-epoi'ting i)ei'io(I 75.532 143,488 'riie iioles foi'iii i)at1 of Ilie5e fii)ai)¢i¢21 slalcinciils Page 14
Lisiciix Ti'iisi Liiiiited Noles lo Ilie Casli Flow Stateineiit foi. tl)e Yeai. Ended 31 Mai'cl) 2025 IIEI CONCI LIA'I'ION ofi NEI I. IIICOME I'O Nff T CASii fiLOW fROM OPIRATING AcfiviTifi.S 2025 2024 Net iiicoine foi. tlie I'epoi'liiiE i)ei'ioil (as i)ei' the Stk)temeiif of fi iiiaiiciAI Aetivities) AdjusÉn)eiits foi.: Depi'ecialioii cliai'ges Gaiii on iiivestimeiils Inlei'esl i'eceived Ii)lere.ql paid DeciEasel(iiicrease) iii debiois Iii¢i'easel(deci'ease) in ci'editoi's 5,911 188,341 81,354 (35,044) (41,101) 66,592 17,425 30,324 44,069 (2,895) {44,729) 69,635 (55,891) (58,505) Net casli pi'ovide(I by opei'Ations 125,461 140,025 ANALYSIS ofi CHANGES IN NET DEBT Ai 1.4.24 Casl) flow Ai 31.3.25 Net cHsh Cast) at ban1< ai)d iii haiid 143,488 {67,956) 75,532 143,488 (67,956) 75,532 Debt Debis falling (liie witliii) l yeai. Debis fallii)g dLie after l yeai- (108,924) (724,547) 2,604 38,778 (106,320) (685,769) (833,471) 41,382 (792,089) I'otal (689,983) (26,574) {716,557) Tlie iiolcs foi-iii part of iliese finaiicic21 slaleinen15 PaLFe 15
Liqieux I"I'iisl Liimiled Notes to the Fiiiai)cial Stalciiieiils foi. Ilie Yeai. Eiidcd 31 Mai'cli 2025 ACCOUNTING POLICIEI S Basis of pi'epftl'iiig tlie fill17clAI stAteilleJits Tlie finaiicial sl¢ilemeiils of the cliai'ilable coiiipaiiy, wliich is a piiblic benefit eiility iiiidei. FRS 102, liave been pi'ei)ai'ed ii) 8ccoI'daiice witl) Il)e Cliai-ilics SORP (FRS 1021 'Accouiilii)g an(1 Repoi'lii)g by Cliai'ities.. Slatenieiit of Rewininei)de(I Pi'aclice applicable to chai'ities pi'cpai-iiig tlicir accoiiiils in aecoi'dai)ce willi the Fiiiai)Lial Repoitiiig Staiidai'd applicllble in the UK and Republic of Irelaiid (FRS 102) (effeclive l Jaiiiiai'y 2019),, Fiiiancial Repoiliiig Siandaiyl 102 'Tlie Fiiiancial Rei)oiliiig Staiidai'd applicable iii the UK ai)d Rei)iibli¢ of Ji'elaiid, and Ilic Coinpaiiies Ael 2006. Tlie financi<11 statemeiils liave beeii i)repared Liiidci. the liistoi-ical cost coi)veiilioi), M'iih tl)e cxcei)tioii of ii)veslinei)Is whicli al'e included al mai'ket valiie. Tl)e pi.ese111alioii ciii'i'ency of Ilie fiiiancial staleniei)ts is tl)e Pound Stei-liiig (£). Tlie fii)ftiicial statements al'e roiiiided to Ilie nearest £1. liicome All incoime is recogiiiscd in Ilie Siatemei)t of Financial Activities oiice Ihe chai.ity has ciiliileinent to the fiii)ds, il is piobable that Ilie iiicoiiie will be Itceived ai)d the ai))ouiil Can be Iiieasui'ed i'eliably. Alloextioii Aiicl ¥ll)l)01-tioiimeiit of costs Expeiidiliii'e is accoiinled foi. on an accrlials basis and 5ias been clas5ificd undei. lieadings Iliat aggregate all cost I'elaled to the category. Whei'e costs cai)nol be dii'ecily atti'ibiited lo i)ai'liciilar lieadiiigs they liavc been allocaled to acliiwities oli a basis COI)sisteiil witl) the iise of resoui'ces. Tangible fixed assets Depreciation is piovi(led al the following anniial i'ales in ordei. to wi-ite off each asset ovei. ils esliiiiated usefiil Fireliold land aiid biiildings Shoit leasel)olil piopei'ty impiDvements Fixliii'cs and fittii)gs Coiiiputei. eqiiipineiil not pi-ovided over pei'iod of lease 25010 01) cost 33 % 011 cost Iii the opiiiioii of Ilie Ti'iislees, Ilie niai'lcet value of tlie freehold laiid aiid biiildii)gs is iii excess of the iiel book valiie aiid Iliei'efoi'e il is iiot coi)sidei'ed ai)piopi'iate lo depi'eciale Iliose assets. TaxAtion Tlie Chai-ity lias ai)plied foi. exeiiiplion fii)m coi-poi'atioii lax on its chai-ilable aclivilie5. Fun(l accounliiig Uiiirsli'icted fiiiids Ccili be iised ii) accoi'daiice i¥ith the chai'ilable objectives xl tlie discretioii of tlie trlislees. Resti'icled fLinils can 01)ly be iised foi. pRI'liciilai' resli'icled piiiyoses wiiliii) tlie objccls of the chai'ity. Resti'iclions ai'ise when specified by Ilie doiior or wheii fiiiids al'e iaised foi. particiilai- resli'icled piiip05es. FLii11iei' explai)alioii of Ilie iialiii'e aiid piii'pose of each fuiid is ii)Lluded iii tlie notes lo Ilic financial slaleniei)ts. Pensioii costs aiid o(liei' i)05t-Tr'etii'eiiieiit beiiefits Tli¢ cliai'ilable coini)aiiy opei'ales a defiiied ¢oi)ti'ibiilioii peiisioi) sclieiiie. Coiili'ibiili0115 payable lo Ilie cliai'ilable coiiipaiiy's peiisioi) sclieiiic <ll'e cliai'g?ed lo ilic Sialeiiiei)t of Fi111< Iicial A¢livities iii Il)e i)ei'iod to ivliicl) Iliey I'el¢?le. iiiiaiieial Assets Basic fiiiai)¢ial assets, wliicli iiicliidc debtOl'5 and ¢asli aii(I b31ik balaiices, al'e iiiilially Ineasiii'ed al ti'Aiisa¢tion pi'ice inclii(liiig Ii'aiisa¢lioii cosls 1< lid <ire siibseqiici)Ily cai'i'ied at aiiioi-lised Lost LlSiI)g Ihe cffeclive ii)lei'esl 11)cil)oil iiiilcss Ilie ai'i'ai)geiiieiit Collstiliites a fiiiaiicing tl'lc iisaclioi), wl)ei'e the Ii'aiisaclion 15 iiieasiii-e(l at Il)e i)IEsenl Vclliie of tl)e fliliii-e I'eceii)Is discoiiiiled at a I1.](el I'ale of iiitei'csl. Fiiiaiicial assets classifie(l as I'cceivable witliiii oiie yeai. are not aimoitised. Pa&ie 16
l.iqieiix Ti-iisl Liinited Note5 to Ilie Fiiiaiici81 £laleiiiei)ts - coi)tii)iied foi. Ilie Ye1( I. Iiicled 31 Mai'ch 2025 ACCOUNTIING POLICIES- contiiiueil Fi iiianeial liAbilities Basi¢ fiiiaiicial liabilities, iiicliidii)g ¢i'ediloi's al'e iiiilially recogiiised at ti7115aCtioii pi-ice Liiiless the ai'i?iigeiiienl coiislitiiles a fii)anciiig tiansaclioii, wliei'e (lie debt iiisli'iiiiieiil is iiieasui'ed al Ilie pi'eseiit value of the fiiliii'e payiiieiils discoiiiited al a Inai'ket l'ate of ii)lei'est. Finaiicial liabilities classified as payable wiihiii 01)e yeai. air iiot ainoitised. Goiiig concei'n Tlie financial 5tatei)iei)ts have been pi'epai'ed oli Ilie goiiig coiicerii basis on tl)e gi'oiinds tl)al the Iriislees believe Ilial tliei'e is siifficienl fiii)diiig iii place to siipi)oi'l Ilie cliai'ity foi. the iiext twelve Inoiiil)s fi'om the date of appi'oval of tlie finai)cial staleiiieiils. Iiive5tmeiits Ii)vesliiients al'e slated al Inai'kct valiie at the balRnce slieel date. Tlie Slaleiiient of Finai)cial Activities iiicludes the nel gaiiis and losses ai'isii)g on i-evaliialioi)s and disposals tlii'oiigliout tlie yeai.. ri jll<iiicial i115ti'umeiits The Coiiipaiiy oiily ente13 iiilo basic fiiiancial iiislriiiiieiils ti'aiisaclioiig IlitSt i-esult iii tlie I'ecognilion of fii)ftncial assets aiid liabilities like Ii'ade and oil)ei- dcbioi's aiid ci'eililois, loaiis fioiii bai)ks aiid otlici. Iliii'd pai'lies, loaiis to I'elaled i)aities and iiivestinents iii iioi)-piittable or(linaiy 51iai'es. Debi 1iislI'uments (oili¢i' Ilian tl)ose ivliolly repayable oi. I'eceivable i¥iihii1 oiie yeai.), iiicliiding loaiis aiid otl)er accoiinls I'eceivable aiid payable, are iiiilially measiiied al preseiit valuc of Ilie flittii'e cash floivs ai)d Slibsequenily at aiiioitised cost iisii)g the effective inleresl meiliod. Debt ii)sli'iiniei)ts tliat al'e i)ayable or Itceivable wiiliii) one yecgr, typiclc Ily Ii'ade dcbioi's and ci'editoi's, are iiieasiirecl, initially aiid siibsequeiitly, at tlie uiidiscoiinled anioiiiil of Ihc Lasli oi. otl)ei' considei'alioii expccted to be paid oi. I'eceived. Howevei., if tlic ai'i'aiigeiiienls of a sliort-tei'iii iiisti'iiiiicnt coiistitule a financing traiisaclioii, like Il)e i)ayiiieiil of a ti'ade debt defei'i'ed beyond noi'n)al biisiness tei'ins oi. fii)aiiced at a l'ate of iiilei'est Iliat is not a Inai'ket I'2( le oi. in case of ali oul-l'iglil slioit-tei-111 loaii i)ol al Inai'liet rate, tlie financial asset 01- liability is n)easiii'ed, iiiitially, at Ilie pi'eseiit valiie of the future cash flow discoiiiilcd al a iiiarkel l'ate of inlei'est foi- a siiiiilai- debt ii).qli'iiincnt aiid siibseqiieiiily al anioitised cost. Fiiiancial assets Il)at al'e 11)easiii'ed at cost aiid ainos1i£ed cost al-e assessed al the end of each repoiliiig pei'iod for objective evidence of ii))P<lil'l)ieiil. If objcclive evidence of iiiipairmei)t is foiiiid, ali impaii-iiiei)t loss is I'ecogFnised ii) tlie Slateiiient of Coiiipi-eheiisive Incoiiie. Foi. finaiicial assets Imeasiii'ed at aii)oitiged cost, Ilie inipairmci)t loss is 11)easiii'ed as the diffei'ei)ce betweei) an asset's caiiying ainouiil aiid the pi'eseiil valiie of eslablislied clS17 floivs discoiiiiled al the asset's oi'igiiial effective iiilei'est l'ate. If a finaiicial a.%sel has a vai-iable inlei'esl I'ale, Ilie diqcoiinl rate foi- iiieasiii'iiig ai)y inipaii'ment loss is Il)e CLlI'I'eiil effective inlei'est rate delei'mii)ed iindei. tlie conti'act. riiiaiicial assets anil lial)ililics aiE offset aiid Ilie iiel an)ounl I'epoiled iii tlie Balance Slieel wlieii there is ali eiifoi'ceable I'iglil lo sel off tl)e I'e¢ogiiised aiiioiiiils and tliei'e is ali iilteiition lo settle oli a net basis or to I'ealise the asset aiid semle Ilie liability SllllLiltan¢oiisly. Pi'ovisioiis & Coiitiiigeneies PIDVlSiOI)s at'e ii)Éiile wliei'e Ri) eveiit lias takei) place Iliat gJives tl)e Conii)aiiy a legal oi. coiisli'ii¢live obligalioii Ilial piobably IEqiiii'es settleiiiei)I by a traiisfei- of ecoiioiiiic bei)efil. aiid a reliable esliin1< te cai) be IT)ade of Il)e ai)ioiinl of the obligalioii. Piovisioiis al'e cliai'ged as ali exi)ense to the Staleiiiei)l of Coini)I'eheiisivc Iiicoiiie iii tl)e yeai- Ilial Ilie Coini)aiiy becoiiies awai'e of Ilie obligalioii, and al'e nieasiii'ed al Ilie best esliiiiale at Ilie Balai)ce Slieet date of the expeiidiliii'e I'eqiiii'ed lo settle Il)e obligalioii, lakiiig iiilo accoiiiit IElcvai)t I'isks aiid iincei'laiiilics. Wheii i)aynieiils at'e eveiilLially 11l1ide, they al'e cl)ai'Lied lo Ilie i)rovisioi) carried in Ilie Bi< laiice Sheet. Page 17
Notes lo Il)e Fiiiancial Siateineiils- contiiiiicd foi. Ilie Yeai. Eiiclcd_31 Mai'cl) 2025 ACCOUNI'INC POI,ICIES- co?Itiiiiie(I Coiitiiigeiit liabililies air I'ecogiiise(l as Ir piovisioiI wlieii the lilielihoo(l of ecoiioiiii¢ oiiiflow iq assessed as PIDbable. Coiiliiigeiit liabilities ai'ise as a I'esiili of i)8st events wlieii (i) il is not i)iobable Iliat tliei'e ivill be ali oiitflow of I'esoiii'ces oi. Il)at Ilic, ai))oiiiil c,ai)Iiol bc I'eli1cbl}w i))easuiEd til the I'ei)oiliiirF (late 01- (li) wlieii Ilie existeiice will be coiifii'med by Ilie oLcui'lEiice oi. iioii-occiii'i'ence of Liiicei'lain fiitiii'e cveiils iiot wliolly wiihiii ilie coinpany's coi)Iiol. Coiilingei)t liabilities are iiot I'ecogiiised as a pi-ovision bul are iiislead disclosed iii Ilie financi(21 slaleineiils i¥lieii Ilie likelilioo(l of econoiiiic settlemeiil is deeined possible aiid Iiol i)iobable. Conliiigei)t liabilities al'e not I'ecogi)ised a5 a disclosui-e wlieii the pi'obability of ali oiiiflow of i'esoui'ces is I'eimotc. DONATIONS AND LEGACIEIS 2025 2024 Doi)atioiis Gi"aiits 6,568 691 20,943 95,337 7,259 116,280 Gi'ants i-eccived, include(l in Ilie above, al'e as follows.. 2025 2024 Bii'illiiigliain Cily C.oiiiicil G17nl 691 95,337 INVESTME< NT INCOMI 2025 2024 Deposit a¢eoiiiil ii)teirsl Divideiids I'eceived 3,447 37,Ci54 1,912 42,817 41,101 44,729 INCOML fiROM CHARITABLE ACTlVI'rifi S 2025 2024 Activity Seiwice coiiti'acl iiicoine oil)ei' Lhai'ilable llclivilies Service coiili'acls Oihei. iiicoiiie 3,757,074 28,477 3,250,466 12,911 3,785,551 3,263,377 Page18
15ieiix Ti'LisI Limited Notes lo the Fii)aiicial Staleiiieiils- coiiliiiued foi. Ilie Yeai- Eiidecl 31 Mai'cii 2025 CIIARITABLE ACTlVI'fiEI S COSTS Suppoi'l costs (sce i)ote 6) Dii'ecl C051s Totals Wages, salai'ies, agyeiicy fees aiid associated costs Pi'opei-ly I'uiiiiiiig Cosls Re.qidenls acliiiilies aiid alloivaiices Depi'ecialioii and disposal cliai'ges Piofessioiial fees Ol¢e adi)iinisli'2t tioii and iiiniiing costs 2,200,676 508,169 55,121 476,916 66,595 2,677,592 574,764 55,121 81,353 37,618 197,084 95,030 144,482 132,648 341,566 3,003,478 859,5C)6 3,863,044 SUPPORT COSTS Govei'iiaiice costs Maiidgenient tecl)nology Oil)er Totals Wage5, salai'ies, ageiicy fees ai)d associated costs Piopcrty I'uiiiiing costs Dei)I'ecialioii aiid disi)osal cliarges Professioiial fees orrice adi))inisli'atioii aiid I'uniiiiig costs 469,565 66,595 7,351 476,916 66,595 81,353 81,353 37,618 24,731 12,887 68,012 66,592 62,480 197,084 628,903 66,592 151,184 12,887 859,566 NEIT INCOMEI l{Expfi,NDI'fuRE) Nel incoinel(expeiidiliii'e) is slated Mftei- cliLirgingllci'edilii)g}'. 2025 2024 Aiidiloi's, Itiniiiiei'i£ lioi) Aiidilois, I'eiiiiiiiei'alioii foi. lion aiidit woi-k Depreciation - owned a8se15 oiliei. opei'ating leases 6,700 6,187 81,354 211,784 6,350 4,948 44,068 128,407 TRUSTEEI S, REMUNERATION AND BEI NEI ri'TS Tliei'e werc iio Ii-u51ees' I'eiiiiii)ei'alioii oi. otlier beiiefils foi. Ilie yeai. ei)ded 31 Mai'ch 2025 1101. foi. Ilie yeai. elided 31 Mai'cli 2024. Ti'iistees, exi)eiises Thei'e weie no Ii'iislees, expenses i)aid foi- tlie yeai- eiided I l Mai'cli 2025 iioi. foi. Ilie yeai. ended 31 March 2024. Page 19
Lisieiix Ti-LlSt Lii)iiled NOILS lo the Fiiiaiicial Siateii)eiils - coiitii)ued_ foi. Ilic Year Elided 31 Marcli 2025 SI'AFI f4 C.OSI'S 2025 2024 Wages and salai'ies Social seciii'ily costs Peiision costs 2.322,141 192,144 63,207 2,028,36 164,255 57,379 2,577,492 2,249,670 The avei'age weekly niiinbei. of einployees diiring Ilie yeai- was 107 (2024.. 98). Iccy manageineiit peisoi)Iiel I'einuneralioii xinoiiiite(I 10 £85,418 (£72,350 in 2024). 10. COMPARATIII[I s fioR THE STATII MEI NT 01,, f4lNANCIAL ACTIVITllI S Uiii-eslricted flinds Resli'icted fiinds Total funds INCOMEI AND EI NDOMIMEI N'fs FROM Doiialions aiid legacics 116,280 116,280 ChA Tr'ilable Aelivities Sei'vice conti'acl incoine Other cl)ai'ilable activities 3,250,466 12,911 3,250,466 12,911 Iiivestnient iiicome 44,729 44,729 Total 3,424,386 3,424,386 I XPENDITURI ON ChAI'it&ble Activities Wages, salaries, ageiicy fees aiid associAled costs Pi-opeity runiiing costs Residci)ts activities aiid allowances Depi'ecialioi) aiid disi)osal chai'ges Pi'ofessioi)al fees Office adiniiiislralioii an(1 I'iiiiiiing cost5 2,325,119 461,309 46,820 44,069 6.5,603 296,020 2,325,119 461,-309 46,820 44,069 65,603 2()6,020 Total 3,238,940 3,238,940 Nel L7ains oil illvestineiils 2,895 2,895 NEI T INCOME 188,341 188,341 RECONCILIATION of4 fiUNDS Total fiiiids bi'oiigl)t foi'wai'd 2,387,752 2,387,752 TOI'AL fiUNDS CARRIEI D fiORWARD 2,576,09J 2,576,093 Pagjc 20 conliiiiied...
Lisieiix Ti'iisl Liiniled Notes to the fiiiai)cial Si<qleii)ei!Is - contiiiiied foi. Il)e Yeic I. Lnded 31 Mai'cl) 2025 ii. TANGIBLE fiIXEI D ASSLITS ImpiDveiiiciils lo pi'oi)crty ixILlI'es aiid fillings Fi-eeliol(I pi'opeity Coini)iitei' eqiiii)Imeiit Totals COST At l Api'il 2024 Additions 2,090,497 39,610 250,176 146,050 121,534 23,653 11,591 2,510,37() 172,735 At 31 Mai'cli 2025 2,130,107 250,176 267,584 35,244 2,683,111 DEI PREI CIATION At l Api'il 2024 Cliarge foi. yeai. 135,280 9,789 81,085 60,649 14,513 10,916 230,878 81,354 At 31 Mai'cli 2025 145,069 141,734 25,429 312,232 NLI T BOOIC ITALUE At 31 Mat'ch 2025 2,110,107 105,107 125,850 9,815 2,370,879 At 31 Mai'clI 2024 2,090,497 114,896 64,965 9,140 2,279,498 12. IIXED ASSE<T INIIESTMfi NTS Listed jiiiweslmeiils MARICEI T VALIIE Al l Ai)I'il 2024 Additions Disposals Cliaiige in Inai-kel value 814,384 30,440 (35,249) 35,044 At 31 Mai-cl) 2025 844,619 NII T BOOK VALUE At 31 Mai'cli 2025 844,619 At 31 Maiili 2024 814,384 Tliei'e were iio investiiieiil assets outside the UK. 13. DEI BTORS: AlouNTs fiALLING DUF, WII'141N ONI YEAR 2025 2024 Ti'ade debioi's Pi'epayiiieiits Riid acciTr]cd incoiiie 254,436 51,820 295,035 28,646 306,256 323,681 Page21 conliiiiied.
l.isieiix 'fi'iis1 Liinited Notes to Ilic l-'ii)ai)cial Sialeniei)ts - coiiliniie(I foi. Ilie Ycai- Et)ded 31 Mai'cli 2025 14. CRII Dll"ORS: AMOUNTS IIALLING DUE WITIIIN ONI I'LI AR 2025 2024 Baiilc loaiis aiid ovei'di'afis (see nolc 16) I I'a(le ci-ediloi's Social se¢iii'itii aiid otl)ei' taxes Olhei. creditoi's 106,320 50,557 41,643 130,99J 108,924 17,413 38,674 95,400 329,513 260,411 15. CREI Dl'foRS: AMOUTr4TS f4ALLING DUE Afi fEI Il MORE TIIAN ONI YEI AR 2025 2024 Baiik loaiis (see iiote 16) 685,769 724,547 16. I,OANS Ali aiialysis of the niatui'ity of loaiis is given below: 2025 2024 Aiiioiii)Is falling diie witliin one yeai. 01) deiiianil.. Baiili loans 106,320 108,924 Ainouiils fallii)g between one and two years.. Baiik loans - 1-2 yeai's 106,320 108,924 Aimoiiilt.q falliiigF diie betweci) two and five yeaiB'. Baiik loaiis - 2-5 years 579,449 615,623 17. LEASING AGREI EiVAEt NTS Miiiimui)) lease payinenls uiidei- iioii-cai)cellable 01)ei'aliiig leases fall diie as follows.. 2025 2024 Wiiliiii one yeai. Beti¥een oiie ai)d five yeai Iii Inoi'e Ihaii five yeais 254,568 740,810 492,965 85,173 143 1)17 144,375 1,488,J43 373,465 Page 22
Li5ieux Ti'iist Liii)iled Notes to tl)e Finaiicial Siateinciits - coiiliiiiied foi" Ilie Yeai. Elldcd .1 l Maicl) 2025 18. sri CUIIEI D Dri Ii'rs Tlie followii)g seciiiEd debis ait iiicliided wiiliiii ci'edilois.. 2025 2024 Baiik loaiis 792,089 833,471 The bai)k loans are secllltd by fireliold land aiid pi'opeities held by the Ti'ust. The bank liold legal cliai'ges ovei. five i)I'opeilies owi)ed by Ilie Ti'ust wl)icli Al'e included iii note I l above. 19. MOVEI MEI NT IN FUNDS Net Inovei)ieiil At 31.3.25 At 1.4.24 UEii-estl-iLteil fuiiils Genei'al fund 2,576,093 5,911 2,582,004 TOTAL fiUNDS 2,576,093 5.911 2,582,004 Net iiioveineiit iii fiinds, iiicliided in the above al'e ¢iS folloivs.. Jncoiniiig I'esolirces Resoui'ces expeiided Gdll)s aiid osses Movei))enl iii fiinds Uiii'esti'icle(I fuiic15 CFeiieial fui)d 3,833,911 (3,863,044) 35,044 5,91 TOTAL FUNDS 3,833,911 {3,86.3,044) 35,044 5,911 Conipai'atives foi. rnoi'emeiit iii I'iiii(Is Nel Inoveiiieiil in fiiiids At 31.3.24 Al 1.4.23 Iliii'esti'iete(I fuiicls Geiieial fLlI)d 2,387,752 188,341 2,576,093 TO'fAL fiUNDS 2,387,752 188,341 2,576,093 Page 23
Lisieiix Ti'usl l.iiiiite(I Noles to Ilie E,"ii)ai)cial Stateii)eiits - coi)liiiiied foi. Ilie I'eai. fi)dcd 31 Mairh 2025 19. MOVEMLI Nl. IN fiUNDS- eoiitiiiued C.oiiipai'alive iiel Iiiovciiiciil iii fiiiids, iiicliidcd in the above al'e as follows.. Incoiniiig I'esoiii'ces Resoiiires expeii(led Gaii)s aiid losses Moveiiiei)I Ily)I'esti'icte(I fuiiils Genei'al fliiid 3,424,386 (3,2.38,940) 2,895 188,341 TOTAL FUNDS 3,424,386 (3,238,940) 2,895 188,3£11 A CLlI'I'eiit yeai. 12 Inoiiilis and pi'ioi. yeai- 12 Iiiontl)s coi)Ibineil Iiosilion is as follows: Net iiioveiiient iii fiinds Ai 31.3.25 At 1.4.23 Iliii'esti'ieted fuiids Gei)ei'c21 flind 2,387,752 194,252 2,582.004 'roTAL FUNDS 2,387,752 194,2.$2 2,582,004 A ciii'i'eiil yeai. 12 iiioiiihs aiid pi-ioi. yeai. 12 iiioiiths coinbined iiet Inoveii)eiil iii fuiids, iiicliided iii Ilic above al'e as follows: Iiicoming IESOIII'CCS Resoiiires expended Gaiiis and losses Movement in fiiiids Uiil'esti'ieleil fiiiicls Geiiei'al fiiiid 7,258,297 (7,101,984) 37,939 194.252 TOTAL IIUNDS 7,258,297 (7,101,984) 37,939 194,252 20. CONTINGENT ASSEI T- POST BALANCE SHE4 ET EI 17[4 NT At the i'epoiliiig date, tlie cliai'ity was awatE of M potential legacy donation fioin a deceased eglale. However, Ilie aiiioiiiit could iiol bc ii)easiii'ed I'eliably as al .31 Mai'cli 2025 aiid is tliei'efoi'c Ilisclosed 1< s a coiilingciit asset. 8iibseqLient lo the yeai'_eiid, fui'iliei. infoi'iiiftlioii coiifii'iiied tl)c vMILie of tlie leg2( cy lo be £224,765. Pagc 24
Lisiciix Ti'iist L,iinite Noles lo Ilie Fii)aiicial Staleimeiils- coiiliiiiicd foi. Il)e Yeai- F.nded .31 Mai'cl) 2025 21. REI I,ATCD PARTY DISCI.OSURLI S Thei'e wei'e iio I'elalcd Iiai'ty ti'aiisaclioi)s loi. tlie yLai' elided 31 Mai-cli 2025. P¢lg)e 25