LLOYD EIST FOUNDATION
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Charity Number 1153977
LLOYD EIST FOUNDATION
UNAUDITED FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2024
| CONTENTS | PAGE |
|---|---|
| The report of the Trustees | 1 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 |
LLOYD EIST FOUNDATION
THE REPORT OF THE TRUSTEES
YEAR ENDED 31 AUGUST 2024
The Trustees submit their annual report and the financial statements for the year ended 31 August 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2019 in preparing the annual report and financial statements of the charity.
REFERENCE AND ADMINISTRATIVE INFORMATION
Charity Name Lloyd Eist Foundation Charity Number 1153977 Registered Office 146-154 Wells Way Camberwell London SE5 7SY The Trustees V J Eist K P Eist D Abbott V Eist P Williams P Fenner A M Wright Bankers Lloyds Bank 364-366 Lordship Lane East Dulwich London SE22 8NA
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LLOYD EIST FOUNDATION
THE REPORT OF THE TRUSTEES (continued)
YEAR ENDED 31 AUGUST 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a charitable incorporated organisation, and is therefore governed by a constitution. If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
Recruitment and appointment of the Trustees
Trustees are appointed to the Board for a period of three years after which they may offer themselves for reelection.
The Board look to recruit new members on an ongoing basis.
Trustees’ induction and training
There is no formal induction and training process. New Trustees are recommended to read the various Charity Commission publications directed to new trustees and to ask any questions that they might have regarding the operations of the charity, its funding and their responsibilities as charity trustees.
Organisation structure
The CIO is organised so that the Trustees meet regularly to manage its affairs. The day to day administration of the charity is carried out by the manager who is also a trustee.
The Trustees
The Trustees who served the charity during the year were as follows:
V J Eist K P Eist D Abbott D Robb V Eist P Williams P Fenner A M Wright
Risk management
The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to those risks.
OBJECTIVES AND ACTIVITIES
The objects of the Charity are to provide welfare and charitable services to young people, especially but not exclusively though leisure time activities, so as to develop their capabilities that they may grow to full maturity as individuals and members of society.
The Charity meets it’s charitable objectives by providing grants to cases which meet the objects of the charity. The Charity is principally funded by charitable donations. The Charity’s principal expenditure is on grants. The Charity had a deficit in the year of £1,232. The Trustees are considering new projects which will develop the Charity’s activities.
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LLOYD EIST FOUNDATION
THE REPORT OF THE TRUSTEES (continued)
YEAR ENDED 31 AUGUST 2024
FINANCIAL REVIEW
The statement of financial activities shows a net deficit for the year of £1,232 and reserves at 31 August 2024 of £42,606.
The present level of funding is adequate to support the continuation of the operation of the charity for the medium term and the Trustees consider the financial position of the company to be satisfactory.
Reserves policy
It is the policy of the charity to maintain unrestricted income funds at a level which provides sufficient funds to cover any unexpected reduction in income or additional, non-recurring expenditure. The Trustees currently consider that the necessary level of reserves equates to approximately twelve months recurring unrestricted expenditure.
Registered office: 146-154 Wells Way Camberwell London SE5 7SY
V J Eist
Approved by the Trustees on 8 May 2025
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LLOYD EIST FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 AUGUST 2024
| Notes INCOMING RESOURCES Incoming Resources from generated funds: Voluntary Income Grants & donations TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of generating funds Fundraising trading costs Direct charitable expenditure 3 Governance Costs 3 TOTAL RESOURCES EXPENDED -- NET MOVEMENT IN FUNDS FUND BALANCES BROUGHT FORWARD AT 31 AUGUST 2023 FUND BALANCES CARRIED FORWARD AT 31 AUGUST 2024 |
2023 2024 Unrestricted Restricted Total Total Funds Funds Funds Funds £ - £ - £ - £ - ------------ ------------ ------------ ------------ - - - - ======= ======= ======= ======= - - - - - - - - 1,050 - 1,050 1.500 182 - 182 182 ------------- ------------ ------------ ------------ 1,232 - 1,232 1,682 -------------- -------------- -------------- ------------ (1,232) - (1,232) (1,682) £ 43,838 £ - £ 43,838 £ 45,520 £ 42,606 £ - £ 42,606 £ 43,838 ======= ======= ======= ======= |
|---|---|
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LLOYD EIST FOUNDATION
BALANCE SHEET
31 AUGUST 2024
| Note CURRENT ASSETS Cash at bank NET CURRENT ASSETS NET ASSETS RESERVES Income and expenditure account 4. |
2024 £ 42,606 |
£ 42,606 42,606 42,606 42,606 |
2023 £ 43,838 43,838 43,838 43,838 43,838 |
|---|---|---|---|
These financial statements were approved by the Council of Management and authorised for issue on 8 May 2025 and are signed on their behalf by:
V J Eist
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LLOYD EIST FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2024
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with applicable accounting standards, and the Statement of Recommended Practice, “Accounting and Reporting by Charities” issued in March 2019 (SORP 2019).
Incoming resources
All income is accounted for on a cash basis, that is to say it is credited to income account only on receipt. Resources expended
Resources expended by the charity are accounted for on an accruals basis, including VAT where applicable Presentation of financial statements
The standard format for the accounts has been adapted to provide more appropriate information which complies with the Statement of Recommended Practice (SORP 2019) "Accounting by Charities". Deferred income
Incoming resources are deferred when the conditions on which they may be received are not yet satisfied.
2. TOTAL RESOURCES EXPENDED
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|---|---|---|---|---|
|Project|
|Costs|Governance|2024|2023|
|£|£|£|£|
|Costs directly|
|allocated to charitable activities|
|Grants|1,050|-|1,050|1,500|
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3. CHARITABLE STATUS
The company is a registered charity (No 1153977).
4. UNRESTRICTED FUNDS OF THE CHARITY
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|---|---|---|---|
|2024|2024|2024|2023|
|Unrestricted|Restricted|Total|Total|
|Funds|Funds|Funds|Funds|
|At 1 September 2023|43,838|- 43,838 45,520|
|Deficit for the financial year|(1,232)|- (1,232) (1,682)|
|Transfers between funds|-|-|-|
|------------|------------|------------ ----------|
|At 31 August 2024|£ 42,606|£ - £ 42,606 £43,838|
|======= ======= ======= =======|
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5. ANALYSIS OF NET ASSETS BETWEEN FUNDS
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|---|---|
|Net Current|
|Assets/|
|Liabilities|
|Unrestricted Funds|£ 42,606|
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