Docusign Env8lope ID.. 74A32FFO-OOCA4C6F-9820-EAEA60203F38
Charity number: 1151686
THE LILLINGSTONE TRUST
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

Docusign Env8lope ID.. 74A32FFO-OOCA4C6F-9820-EAEA60203F38
THE LILLINGSTONE TRUST
CONTENTS
Page
Reference and administrative details of the Charity, its Trustees and advisers
Trustees. report
Independent examinerfs report
Statement of financial activities
Balance sheet
Notes to the financial statements
9-15

Docusign Env8lope ID.. 74A32FFO-OOCA4C6F-9820-EAEA60203F38
THE LILLINGSTONE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
John Lane, Chair
Julie Powell (resigned 4 November 20241
Katharine Lane
Claire Reindorp
Charity registered
number
1151686
Principal office
Langton House
Plumpton End
Paulerspury
Towcester
Northants
NN12 7NJ
Independent examiner
MHA
Chartered Accountants
910 The Crescent
Colchester Business Park
Colchester
Essex
C04 9YQ
Bankers
Lloyds Bank
21-23 Hill Street
London
W1J 5JE
Investment manager
Quilter Cheviot
Senator House
85 Queen Victoria Street
London
EC4V 4AB
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Docusign Env8lope ID.. 74A32FFO-OOCA4C6F-9820-EAEA60203F38
THE LILLINGSTONE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the financial statements of the Charity for the year from 1
January 2024 to 31 December 2024.
The financial statements have been prepared in accordance with the accounting poliGies set out in notes to the
accounts and comply with the Charity's goveming document. the Charities Act 2011 and Accounting and
Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland (FRS 1021.
Objectives and activities
a. Purpose and objectives
The objects and purpose of the Charity, as per its Twst Deed, are to:
1. Hold the capital and income of the Charity Upon Trust to apply the income, and all or such part or parts of the
capitsl, at such time or times and in such manner to, or for the benefit of, such exclusively charilable objects and
purposes in the UK that the Tnjstees may in their discretion think fit in the field of education.
2. Permit the Trustees, in their discretion, for the period of 21 years from 1st July 2012, instead of applying the
income of the Charity in any year. accumulate all or any part of such income by investing the same, and resulting
income, in any investments authorised by the Trust deed or by law, as an accrelion to and as part of the capital
of the Charity, without prejudice to their right to apply the whole or any part of such accumulated income in any
subsequent year as if the same were income of the Charity arising in the then current year.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating to public benefit. including the guidance 'Public benefit= running a
charity IPB21'.
b. Main activities undertaken to further the Charity's purposes for the public benefit
The current principal activity of the Charity is to provide scholarships and other support to encourage pupils from
lower income backgrounds who are deterred by financial constraints from exploiting their potential by continuing
into higher education and to promote the study and support of education in general.
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Docusign Env8lope ID.. 74A32FFO-OOCA4C6F-9820-EAEA60203F38
THE LILLINGSTONE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and perforniance
a. Main achievements of the Charity
Over the last year, the Trustees have continued to promote their Scholarship Scheme. The Scheme provides
scholarships for local pupils from lower income backgrounds wishing to study STEM subjects at university. The
scheme has been developed in conjunction with local schools and is now being offered at six suGh schools. The
scheme has twenty-five current scholars. The Trustees have offered eleven scholarships to students starting
university in Autumn 2025.
The Charity continues to support a Community Laboratory in a new Science Centre at a local school. As well as
providing facilities for the pupils at the school, use of the Community Laboratory is offered to the wider local
population, including primary school pupils, local youth organisations and local Scien￿ clubs. The Charity funds
the centre's outreach program costs, which include a program of monthly science lectures, a science fair for
local primary school pupils and the provision of Scien￿ resource packs lor primary schools.
The Charity has also funded the fitout of a Mind and Body Zone in a new Sports Centre at the same school and
funds the Sports Centre outreach program. which includes primary school sports teacher training and sports fairs
as well as sports Scien￿ lectures.
The Trustees fund The Lillingstone Trust STEM Scholarship in conjunction with Nottingham University. This
provides two bursaries of £6.000 each year to students at Nottingham University studwng STEM subjects.
The Charity has funded a three-year undergraduate Scholarship fund from 2024 to 2026 in conjunction with the
University of Buckingham. This provides six scholarships of £5,000 to local students studying Computing,
Medicine or Psychology. In addition. the Charity supports a hardship fund for such students studying at the
University.
Financial review
a. Golng concern
After making appropriate enquiries, the Tnjstees have a reasonable expectation Ihat the Charity has adequate
resources to continue in operational existence for the foreseeable future. This is discussed in more detail below.
For this reason, they continue to adopt the going concem basis in preparing the financial statements. Further
details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Charity is a grant making Charity and its income generating assets are held as investments and cash
deposits. The Trustees have secured an expendable endowment fund and apply the income derived to giving
grants to charitable bodies and individuals as part of the Charitys Scholarship Scheme.
At the year-end the Charity held £258.371 12023: £207,533) in endowment funds. The level of reseNes held at
the year*nd is sufficient to fund all the Chari￿s future grant commitments.
Under the Charity Commission guidan￿ the Charity holds no free unrestricted funds as all funds are held as
expendable endowment. The Trust Deed authorises the addition of further donations to the expendable
endowment, and entitles the Charity to utilise the expendable endowment for expenditure on charitable causes.
The Trustees Gonsider the level of expendable endowment funds held prior to making any grant commitments.
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Docusign Env8lope ID.. 74A32FFO-OOCA4C6F-9820-EAEA60203F38
THE LILLINGSTONE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
c. Material investments policy
Investment ob'ectives
The Trust wishes to hold ethical investments which can be readily converted to cash for grant purposes when
needed. The Trustees require a conservative investment strategy to be adopted.
Risk
The Trustees have a moderate attitude towards risk. The Trustees are able to tolerate some volatility of the
value of the investments. but wish to convert these to cash in the medium term as and when needed. The
Trustees are content with any asset dass as long as it does not cary unnecessary risk.
uidi
The Trust has sufficient cash reserves for its immediate scholarship and other grant commitments.
Mana
ement Re
ortin
and Monitorin
The Trust has appointed Quilter Cheviot Investment Management to manage the shares gifted to the
endowment fund on a discretionary basis in line with this policy. All Trustees are authorised signatories and any
2 are required to sign instructions to the investment manager. The Trustees are jointly responsible for reviewing
the investment portfolio on a quartedy basis until all shares are disposed of. The investment manager is
requested to produce a valuation report to the Trustees on a quarterly basis.
roval and Review
The Investment policy will be reviewed on an annual basis to ensure continuing appropriateness.
d. Review of financial activity
Total income for the year was £129.681 (2023: £69.516). All income is allocaled to the expendable endowment
fund. Total income from donations was £107,431 (2023.. £50,000) and total income from investments was
£7,726 {2023.' £7.016). In addition, the Trust received Gift Aid from H M Revenue & Customs of £14,52412023:
£12,500).
The Trustees resolved lo continue to apply the Chariws expendable endowment funds on charitable activities in
the year. Total expenditure for the year was £98,916 {2023'. £67,111). Of this £92,617 (2023- £59,603) was used
to provide charitable donations to organisations and individuals as part of the Scholarship Scheme. £1,901
(2023.. £1,581) was spent on Investment Management fees.
The investment portfolio was revalued to fair value at 31 December 2024 and the Trust recognised a gain on ils
investments of £20,073 (2023: £3,701). This revaluation has been allocated to the expendable endowment fund.
Net income for the year was £50.838 (2023: £6.106) and the Trust had total reseNes at 31 December 2024 of
£258,371 {2023: £207,533).
Structure, governance and management
a. Constitution
The Charity's constitution is its Trust Deed dated 1 July 2012. It became a registered charity on 18 April 2013.
There have been no changes in the objectives since the last annual report.
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Docusign Env8lope ID.. 74A32FFO-OOCA4C6F-9820-EAEA60203F38
THE LILLINGSTONE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management (continued)
b. Recruitment and appointment of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the
terms of the Trust deed, dated 1 July 2012. Trustees are reappointed every three years after retiring, in line with
the Trust deed. If a Trustee is unwilling or unable to stand for re-appointment other members of the Lane family
would be approached to stand as a Trustee.
Approved by order of the members of the board of Trustees and signed on their behalf by..
John Lane
Chair
Dale.. October 20, 2025
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Docusign Env8lope ID.. 74A32FFO-OOCA4C6F-9820-EAEA60203F38
THE LILLINGSTONE TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Independent examinevs report to the Trustees of The Lillingstone Trust ('the Charity.)
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31
December 2024.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 ('the 2011 Act.).
I report in respect of my examination of the Charivs accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 145{5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and
Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 102} in
preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April
2005 which is referred to in the extant regulations but has been withdrawn.
l understand that this has been done in order for the accounts to provide a tNe and fair view in accordance with
the Generally Accepted Accounting Practice effeGtive for reporting periods beginning on or afler 1 January 2015.
I have completed my examination. I confimi that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act" or
the accounts do not accord with those records" or
the accounts do not comply with the applicable requirements con￿mIng the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fair. view which is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the aGGounts to be reached.
Signed=
Date.. October 21. 2025
Cara Miller ACCA
MHA
910 The Crescent
Colchester, United Kingdom
MHA is the trading name of MHA Audit servI￿s LLP. a limited liability partnership in England and Wales
(registered number OC455542).
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Docusign Env8lope ID.. 74A32FFO-OOCA4C6F-9820-EAEA60203F38
THE LILLINGSTONE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Endowment
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations..
Charitable donations
107,431
14,524
107,431
14,524
50,000
12,500
Gift Aid receivable
Investments..
Dividends and Interest receivable
Bank interest receivable
6,918
808
6,918
808
6,603
413
Total income
129,681
129,681
69,516
Expenditure on:
Investment manager costs
Charitable activities..
Grant making
Independent Examiners. remuneration
Professional fees
1,901
1,901
1,581
92,617
3,720
260
92,617
3,720
260
59,603
3,540
7,954
343
Insurance
358
358
Bank charges
60
60
90
Total expenditure
98,916
98,916
67,771
Net gains on investments
20,073
20,073
3,701
Net movement in funds
50,838
50,838
6,106
Reconciliation of funds:
Total funds brought forward
Net movement in funds
207,533
50.838
207,533
50,838
201,427
6,706
Total funds carried fO￿ard
258,371
258,371
207,533
The Statement of financial activities includes all gains and losses recognised in the year. In the previous
accounting period all income and expenditure was tolfrom endowment funds. All income and expenditure derive
from continuing activities.
The notes on pages 9- 15 form part of these financial statements.
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Docusign Env8lope ID.. 74A32FFO-OOCA4C6F-9820-EAEA60203F38
THE LILLINGSTONE TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
Fixed assets
Investments
269,475
193,448
269,475
193,448
Current assets
Debtors
170
219
Investments
Cash at bank and in hand
5.102
10,347
6,488
11,254
15.619
17,961
Current liabilities
Creditors: amounts falling due within one
year
(26,723)
(3,876)
Net current liabilities l assets
(11,104)
14,085
Total net assets
258,371
207,533
Charity funds
Endowment funds
10
258,371
207,533
Total funds
258,371
207,533
The financial statements were approved and authorised for I￿Ue by the Trustees and signed on their behalf by..
John Lane
Chair
Date.. October 20, 2025
The notes on pages 9 to 15 form part of these financial statements.
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Docusign Env8lope ID.. 74A32FFO-OOCA4C6F-9820-EAEA60203F38
THE LILLINGSTONE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
General information
The Lillingstone Trust is a charitable trust and is registered with the Charity Commission (Charity
Registered Number.. 1151686) in England & Wales.
The address of the registered office is given in the charity information on page 1 of these financial
statements.
The nature of the Charitys operations and principal activities are detailed in the Trustees. Report.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 1021
Accounting and Reporting by Charities: Statement of Recommended Practi￿ applicable to charities
preparing their acGounts in accordan￿ with the Financial Reporting Siandard applicable in the UK
and Republic of Ireland IFRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a Yrue and fairf view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true
and fairf view. This departure has involved following the Charities SORP (FRS 1021 published in
October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended
Practice effective from 1 April 2005 which has Sin￿ been withdrawn.
The Lillingslone Trust meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
relevant accounting policy.
The financial statements are presented in sterling which is the functional cU￿encY of the Charity and
are rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all years presented unless otherwise stated.
2.2 Going concern
The Trustees have assessed the use of going concem and have considered possible events or
conditions that might cast significant doubt on the ability of the Charity to continue as a going
concem. The Trustees have made this assessment for a period of at least one year from the date of
the approval of these Financial Statements. The Trustees have concluded that there is a reasonable
expectation that the Charity has adequate resources to continue in operational existence for Ihe
foreseeable future. The Charity therefore continues to adopt the going concem basis in preparing its
Financial Statements.
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Docusign Env8lope ID.. 74A32FFO-OOCA4C6F-9820-EAEA60203F38
THE LILLINGSTONE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation.
Interest on funds held on deposit is induded when receivable and the amount can be measured
reliably by the Charity, this is normally upon notification of the interest paid or payable by the Bank.
2.4 Expenditure
All expenditure is accounted for on an accruals basis. Expenditure is recognised once there is a legal
or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of
economic benefits will be required in settlement and the amount of the obligation can be measured
reliably.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitsble activities is incU￿ed on directly undertaking the activities which further the
Chariws objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional, such grants being recognised as expenditure when the conditions attaching are
fvlfilled. Grants offered subject to conditions which have nol been met at the year end are noted as a
commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the Charity is potentially exempl from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are
applied exclusively to charitable purposes.
2.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured al fair value at the Balance sheet date, unless the value
cannot be measured reliably in which case it is measured at cosl less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'Gainsl{Losses) on
investments. in the Statement of financial aclivities.
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
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THE LILLINGSTONE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or ServI￿S it must provide.
2.10 Financial instruments
The Charity only holds basic Financial Instruments. The financial assets and financial liabilities of the
Charity are as follows:
Debtors - trade and other debtors {iTrcluding accrued income) are basic financial instruments and are
debt instruments measured at amortised cost as detailed in Note 7. Prepayments are not financial
instruments.
Cash at bank - is classified as a basic financial instrument and is measured at face value.
Liabilities trade creditors, accruals and other credilors will be classified as financial inslrumenls, and
are measured at amortised cost as detailed in Note 9. Taxation and social security are not included in
the financial instruments disclosure. Deferred income is not deemed to be a financial liability, as in
the cash settlement has already taken place and there is simply an obligation to deliver charitable
services rather than cash or another financial instrument.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Expendable Endowment funds represent those assets which must be held pemianently by the
Charity but can be applied on charitable activities at the discretion of the Trustees. Income arising on
the endowment funds can be used in accordance with the objects of the Charity and is included in
endowment income in accordan￿ with the accumulation powers set out in the Trust Deed.
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THE LILLINGSTONE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Critical accounting estimates and areas of judgment
Estimates and judgments are continually evaluated and are based on historical experience and other
factors. including expectations of future events that are believed to be reasonable under the
circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions con￿MIng the future. The resulting accounting estimates
and assumptions will, by definition, seldom equal the related actual results. The estimates and
assumptions that have a significant risk of causing a material adjustment to the carrwng amounts of
assets and liabilities within the next financial year are discussed below.
. The Charity continues to re￿1ve voluntary donations and hence remains a going concern.
Analysis of grants
Grants to
Grants to
Institutions Individuals
2024
2024
Total
funds
2024
Total
funds
2023
Charitable activities
33,617
59,000
92,617
59,603
Total 2023
30, 103
29,500
59,603
Grants to individuals in the current and prior year represent scholarships paid.
The Charity has made the following material grants to institutions during the year:
2024
2023
Name of institution
University of Nottingham
The Royal Latin School
University of Buckingham
12,000
21,617
12,000
23,603
(5,500)
33.617
30,703
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THE LILLINGSTONE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees. remuneration and expenses
The Charity has no employees and the Trustees are considered to be its Key Management Personnel.
During the year, no Trustees received remuneration or other benefits from an employment with the
Charity. Remuneration of £Nil (2023= £1.800) was paid to one now retired Trustee for administrative and
accounting services to the Charity- Further details have been provided in the related party transactions
note to the accounts.
During the year ended 31 De￿mber 2024, expenses totalling £259 (2023: £154) were reimbursed or
paid diredy to 1 now retired Trustee for mileage, postage and administrative costs.
Fixed asset investments
Llsted
investments
Cost or valuation
At 1 January 2024
Additions
193.448
111,601
{54,653)
20,073
{994)
Disposals
Revaluations
Amounts written off
At 31 De￿mber 2024
269.475
Net book value
At 31 December 2024
269,475
At 31 December 2023
193,448
Debtors
2024
2023
Due within one year
Accrued income (dividends receivable)
170
219
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THE LILLINGSTONE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Current asset investments
2024
2023
Cash held as part of investment portfolio
5,102
6,488
Creditors: Amounts falling due within one year
2024
2023
Accruals
4,223
22,500
3,876
Grant commitments
26,723
3,876
10. Statement of funds
Statement of funds - current year
Balance at
31
December
2024
Balance at 1
January
2024
Gainsl
(Losses)
Income Expenditure
Endowment funds
Endowment Funds - all funds
207.533
129.681
(98.916)
20,073
258,371
Statement of funds - prior year
Balance at
31
DeGember
2023
Balan￿ at
l January
2023
Gains/
(Losses)
Income Expenditure
Endowment funds
Expendable endowment
201.427
69,516
(67.111)
3,701
207,533
The Expendable Endowment fund must be held permanently by the Charity but Gan be applied on
charilable activities at the discretion of the Trustees. Income arising on Ihe endowment funds can be
used in accordance with the objects of the Charity and is included in endowment income in accordance
with the accumulation powers set out in the Trust Deed.
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THE LILLINGSTONE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11.
Analysis of net assets between funds
Analysis of net assets between funds - current period
Endowment
funds
2024
Total
funds
2024
Fixed asset investments
Current assets
Creditors due within one year
269,475
15,619
(26,7231
269,475
15,619
{26,723)
Total
258,371
258,371
Analysls of net assets between funds - prlor perlod
Endomnent
ftinds
2023
Total
funds
2023
Fixed asset investments
Current assets
Creditors due within one year
193,448
17.961
(3,876)
193,448
17,961
(3,876)
Total
207,533
207.533
12. Contingent liabilities
As at the year end date, the Charity has committed to pay scholarships totalling £78,750 over the next 2
years. Payment of these scholarships is dependent upon students obtaining a place on future years of the
intended course. meaning that these payments represent a possible but uncertain obligation for the
Charity.
If all scholarships were to be paid. this would be recognised as payments of £38,750 within 1 year, and
£40,000 in greater than 1 year but less than 5 years.
13. Related party transactions
During the year John Lane, a Trustee. made a charitable donation of £58,096 (2023.. £50.000) and a gift
of shares with the value £49,335 (2023= £Nill to fund the Trust's investment activity.
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