THE LEYSDOWN CONSERVATION TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 DAVERT BANKS & COMPANY WOODLAND LODGE THE WOODLANDS ESHER SURREY Iff10 8DD
THE LEYSDOWN CONSERVATION TRUST CON ENT Page Legal and Administrative Information Report of the Trustees 213 Balance Sheet Statement of Financial Activities Investment Account 619 Investment Income 10113 Notes to the Financial Statements 14115 Report of the Independent Examiner 16
THE LEYSDOWN CONSERVATION TRUST LEGAL AND ADMINISTRATIVE INFORM TIO Constitution The Leysdown Conservation Trust is a Registered Charity governed by the Trust Deed dated 24 January 2005, Charity Number 1154281. Trustees The Trustees who served during the year were as follows.. A Harding Chairman Mrs D M Rawstron Dr M MacQuity Miss C Harding Mrs J Rainbow B Rainbow Independent Examiner R T Hecquet Davert Banks & Co Woodland Lodge The Woodlands Esher, Surrey KT10 8DD Bankers C Hoare & Co 37 Fleet street London EC4P 4DQ Solicitors Smyth Barkham LLP 1 Mitre Court Buildings Inner Temple London EC4Y 7BS
THE LEYSDOWN CONSERVATION TRUST REPORT OF THE TRUSTEES- 1 OR THE YEA ENDED 5 APRIL 2024 The Trustees are pleased to present their Report together with the Financial Statements of the Charity for the year ended 5 April 2024. Legal and Administrative information, set out on Page 1, forms part of this Report. The Financial Statements comply with current statutory requirements and the Statement of Recommended Practice - Accounting and Reporting by Charities. 1. Objectives and Activities The objects of the trust are the promotion and encouragement of the conservation, improvement and protection of the Countryside especially in Sussex, for the public benefit. 2. Achievements and Performance The Trustees own Leysdown Cottage, Butchersfield Lane, Hartfield, TN7 4LB and the surrounding land. In July 2016 they entered into a five year agreement with the Sussex Wildlife Trust (registered charity number 2070051 to fund the Vera Dalley Lederman Scholarship and Environmental Training Programme with a separate five year lease of Leysdown Cottage to provide accommodation for the trainees awarded the scholarships. Leysdown Cottage was refurbished to make it suitsble for use by the trainees and the Sussex Wildlife Trust appointed the first three trainees in July 2016. Any further projects were to be the subject of separate agreements. When the original agreement and lease expired in 2021, they renewed for a further years to July 2023. The arrangements have been renewed during the year with a ten year lease expiring 10 July 2033 (with a break date at five years) and concurrent funding agreement Eleven trainees have now completed the programme and all have obtsined employment in the conservation sector The Trustees are confident that the relationship with the Sussex Wildlife Trust fulfils the public benefit test. 3. Financial Review Dr V M Dalley Lederman, the Settlor of the Charity, died on the 21 July 2012 and under her Will bequeathed a legacy to the charitable trust of £500,000 together with the freehold propety and land, Leysdown Cottage, Hartfield, Sussex TN7 4LB. During the year ended 5 April 2016, the trustees received a further capital legacy of £1,000,000 and an income legacy of £20,947 from the Executors of Dr V M Dalley Lederman. During the year ended 5 April 2017, the trustees received a final capitsl legacy of £112,866 and an income legacy of £276 from the Executors of Dr V M Dalley Lederman. It is anticipated that the trust income will be taken in its entirety in the early years in the refurbishment of Leysdown Cottage and making the annual payment to support the Vera Dalley Lederman Scholarships and Environmentsl Training programme. In the event of a shortfall, the trustees have recourse to expendable reserves which at the 5 April 2024 amounted to £1,819,456 including investments.
THE LEYSDOWN CONSERVATION TRUST REPORT OF THE TRUSTEES- 2 FOR THE YEAR ENDED 5 APRIL 2024 4. Structure, Governance and Management This infomats'on is set out on page 1. New Charity trustees are appointed by a majority of the existing trustees. 5. Reference and Administr8tive Details This information is set out on page 1. The trustees usually meet at least once a year. A chairman is appointed by th6 trustees to manage the day-to-day operations of the charity and keep the other trustees fully informed. Leysdown Cottage and the surrounding Land owned by the trust is registered at the Land Registry in the names of Anthony Harding and Diana Rawstron on Trust for The Leysdown Conservats'on Trust. Approved by the Trustees and signed on their behalf by A Harding - Chaiman
THE LEYSDOWN CONSERVATION TRUST BALANCE SHEET AT 5 APRIL 2024 Note 2024 2023 Heri eAs et Freehold Property and Land: . Leysdown Cottage Hartfield, Sussex TN7 4LB 750,000.00 £ 750,000.00 Fixed A Investments - pages 619 1722 310.00 1635,104.00 2 472 310,00 2 385 104.00 Current A sets Cash at Bank.. Smyth Barkham LLP Client Account at C Hoare & Co Funds held by Quilter Cheviot 41,808.33 58 526.50 49,872.32 50 682.05 100,334.83 100,554.37 Liabilities.. Amounts falling due for payment within one year 3 189.00 3 962.40 Net Current Assets 97 145.83 96 591.97 Net Assets £ 2569455.83 £ 2481695.97 Unrestricted £ 2569455.83 £ 2481695.97 Approved by the Trustees on the 29 July 2024 and signed on their behalf. A Harding
THE LEYSDOWN CONSERVATION TRUST STATEMENT OF FINANCIAL ACTIVITIES R THE YEAR ENDED 5 APRIL 2024 Unrestricted Funds Total Year Ended 5 April 2024 Total Year Ended 5 April 2023 Income from.. Investments - pages 10113 Deposit Interest 46,666.03 £ 46,666.03 £ 2 022.93 2 022.93 43,848.07 743.62 Total 48688.96 £ 48688.96 £ 44 591.69 Expenditure on.. Raising Funds Sussex Wildlife Trust 5,332.48 32,500.00 5,332.48 32,500.00 5,548.08 30,000.00 Other Expenditure Property Expenses Independent Examiner's Fee Professional Charges 6,264.00 2,520.00 2,469.60 6,264,00 2,520.00 2 469.60 7,950.00 2,520.00 1772.40 Total Resources Expended 49 086.08 49 086.08 47 790.48 (Expenditure) I Income before Investments 397.12) { 397.12 ){ 3,198.79) Net (Losses)IGains on Investments pages 619 Realised Unrealised 2,399.99) ( 90 556.97 2,399.99 ) ( 99 556.97 { 8,687.83) 138 777.84) Income l (Outgoings) 87,759.86 87,759.86 { 150,664.46) Fund Balance brought forward 2 481,695.97 2 481695.97 2 632 360.43 Fund Balance carried forward £ 2569455.83 £ 2569455.83 £ 2481695.97
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THE LEYSDOWN CONSERVATION TRUST INVESTMENT INCOME- 1 FOR THE YEAR ENDED 5 APRIL 2024 Dividend Paid Divi end Astrazeneca PLC 125 Ordinary Shares Barclays PLC 3,250 Ordinary Shares BP PLC 1,450 1800 Ordinary Shares Compass Group PLC 300 Ordinary Shares Diageo PLC 275 Ordinary Shares Experian PLC 300 Ordinary Shares GSK PLC 320 Ordinary Shares Haleon PLC 400 Ordinary Shares Halma PLC 150 Ordinary Shares HSBC Holdings 1,750 Ordinary Shares Intermediate Capital Group PIC 585 Ordinary Shares Legal & General PLC 1,750 Ordinary Share8 Lloyds Banking Group PIC 10,000 Ordinary Shares London Stock Exchange PIC 45 Ordinary Shares M&GPIc 4,335 Ordinary Shares MeiGantlle Inv Trust PLC 3,600 Ordinary Shares National Grid PLC 500 Ordinary Shares Octopus Renewables Infra PLC 18,000 Ordinary Shares Prudential PLC 460 Ordinary Shares Reckitt Benckiser Group PLC 100 Ordinary Shares Relx PLC 275 Ordinary Shares 284.75 260.00 251.52 129.30 220.00 131.38 178.40 16.80 31.13 742.15 456.30 343.71 252.00 49.96 882.87 268.20 285.00 490.46 71.83 186.90 153.73 Car Forward 5,666.19 10-
THE LEYSDOWN CONSERVATION TRUST INVESTMENT INCOME- 2 R THE YEAR ENDED 5 APRIL 2024 Dividend Paid UK Divid ds Brou ht Forward 5,666.19 Rio Tinto PLC 250 Ordinary Shares Segro PLC 600 Ordinary Shares Shell PLC 760 1480 Ordinary Shares Smith (DS) PIC 1,145 Ordinary Shares Tesco PLC 1,263 Ordinary Shares 31 Group PLC 425 Ordinary Shares TR Propety Inv Trust PLC 5,200 Ordinary Shares Unilever PLC 115 Ordinary Shares United Utilities Group PLC 400 Ordinary Shares Vodafone PLC 2,300 Ordinary Shares 807.56 109.20 628.64 206.10 137.67 239.07 806.00 170.71 187.72 88.87 9 047.73 11
THE LEYSDOWN CONSERVATION TRUST INVESTMENT INCOME - 3 R THE YEA ENDED 5 APRIL 2024 UK Units Trusts Dividend Paid IAccumulated Baillie Gifford Japanese Inc Growth 15,500 17,200 Ordinary Shares BlackRock Cont Euro Inc 11,600 Ordinary Shares C T Property Growth & Income Q 2,237.99 Shares FIL Asia Pacific Opportunities 9,400 Shares J P Morgan Emerging Markets 10,775 Shares Mayfair Property Inc Trust ft)r Charities 29,894.62 Shares Premier Milton European Opps 7,000 Acc Shares Thesis Climate Asset B Inc 481,121.63 Shares 436.80 865.55 739.83 187.88 163.78 1,418.17 73.50 25 968.54 29 854.05 In on Segro PIC 600 Shares 52.20 orel n Divi ds Gross Tax Received Allspring {LUX) World Wide Fund 1 g5 Shares B&M European Value Retail SA 1,250 Shares ridolily US Quallty InGoine 7,650 Shares Findlay Park 700 Shares International Public Partnership 13,000 Shares Roche Holdings AG 40 Shares 628.43 628.43 120.00 18.00 102.00 1,239.28 1,239.28 75.18 75.18 1,030.90 1,030.90 340.68 Veritas 119.23 221.45 12 Shares 42.67 42.67 3477.14 £ 137.23 3 339.91 12-
THE LEYSDOWN CONSERVATION TRUST INVESTMENT INCOME - 4 FOR THE YEAR ENDED 5 APRIL 2024 UK Interest Allianz UK Gilt Yield I Inc 14,500 Shares Octopus Renewables Infra PLC 18,000 Shares Royal London Sterling Credit 16,000 129,650 Shares 606.34 551.74 1335.78 2 493.86 n Interes Federated Hermes Unconstrained 15,565 Shares Pimco Global Inv Hgd Inc 1,585 Shares SSGA SPDR ETFS Europe Barclays US Treasury Bond 250 Shares Vanguard UK Inv Grade Bond 185 1285 Shares Reported Interest Wellington Global Cred 1,375 Shares 167.07 488.03 232.13 692.13 3.16 295.76 1878.28 I Inv stmen Incom 46 666.03 13-
THE LEYSDOWN CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- 1 FOR THE YEAR ENDED 5 APRIL 2024 Ac ntin Policies (a) Basis of Preparation The Financial Statements have been prepared in accordance with the Statement of Recommended Practice applicable to Charities in accordance with the Financial Reporting Standard in the UK and Republic of Ireland {FRS102) (b) Fund Accounting Unrestricted Funds 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. Incoming Resources (c) All Incoming Resources are included in the Statement of Financial Activities when the Charity is legally entitled. Resources Expended (d) All Expenditure is accounted for on an Accrual basis. The Trustees consider that Leysdown Cottage and the surrounding land is a Heritage asset. The propety and land has scientific and environmental qualities and is maintained by the trustees for its contribution to knowledge and culture. As ststed in the report of the trustees, the trustees have entered into an agreement with the Sussex Wildlife trust under which that trust is responsible for the management and Gonservoltlon of tne property ana lana. Access to the propety and land is through educational programmes organised by the Sussex Wildlife Trust. The propety and land is stated at the valuation when donated to the Charity. Fixed Asset Revaluations Investments are stated at Market Value on the 5 April 2024. 14-
THE LEYSDOWN CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS- 2 FOR THE EAR ENDED 5 APRIL 2024 4. Liabiliti 2024 2023 Liabilities.. Amounts falling due for Payment within one year Independent Examinerfs Fee 2,520.00 2,520.00 Professional Charges 669.00 1,442.40 3 189.00 £ 3 962.40 Tr em The Trustees neither received, nor waived any emoluments during the year, (2022123 £Nil) No Expenses were reimbursed to the Trustees during the year,12022123 £Nil) During the year, a charge of £2,469.60 was made by Smyth Barkham LLP for Administration Services, (2022123 £ 1,772.40) Mrs D M Rawstron, a Trustee of this Charity, is a Consultant at Smyth Barkham LLP -15-
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LEYSDOWN CONSERVATION TRUST I report on the accounts of the Charity for the year ended 5 April 2024, which are set out on pages 4 to 15. Raspective responsibilltlas of governors and examiner The charity's trustees consider that an audit is not required for this period (under secb'on 145(1) of the Charities Act 2011) (the Act), and that an independent examination is needed. It is my responsibility to Examine the accounts (under section 145 of the Act), To follow the procedures laid down in the General Directions given by the Charity Commission {under section 154 of the Act), and To state whether particular matters have come to my attention. Ba818 Ot Independent examIne$ statomont My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and comparison of the accounts presented with those records. It also includes consideration of any unusual Items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts. Independent 8xamlneYs statement In the course of my examination, no matter has come to my attention. which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that.. proper accounting records are kept in accordance with the Act. accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. R T Hecquet FCA Chartered Accountant Davert Banks & Co. Woodland Lodge The Woodlands Esher, Surrey KT10 8DD ust 2024 -16-