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 I￿al<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 appl￿pI.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'ecol￿S 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 eli￿1..
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
I￿lsstatementS 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
Balt￿ce 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 fill￿17clAI 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 I￿￿1.](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 c￿lS17 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
O￿l¢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: A￿louNTs 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