Lyonsdown Community Trust - Year to 5 April 2024
Trustees' Annual Report and Review of Financial Activities
Aims and Purposes
The primary object of the Lyonsdown Community Trust (referred to as “the Trust” in this report) is, for the public benefit, to advance the Christian faith in Lyonsdown, in the district of New Barnet, in the London Borough of Barnet, and surrounding districts: through the provision of affordable accommodation in a Christian community; through the holding of Bible study meetings and other open events; through the running of affordable holidays in a Christian environment; and through such other projects as the Trustees may from time to time think fit.
Objectives and Activities
The Trust was set up in November 2015 to formalise the charitable work that had been ongoing from the premises at 40/42 Station Road for several years. Its current strategy is fourfold:
1) providing affordable accommodation in a Christian community
A repairing lease on the premises at 40 Station Road was executed on 25[th] May 2016.
A second house at 41 Northumberland Road was bequeathed to the Trust on 11[th] February 2019.
We provide affordable rentable rooms within self-contained flats in two large houses which include some large common rooms. The residents include both Christian believers and newcomers. The strategy is based on John 13:35: “By this all people will know that you are my disciples, if you have love for one another.”
A total of 9 large rooms, 5 medium-sized and 7 small rooms are now available for anyone willing to live in a Christian community, but there is often a waiting list for new applicants.
2) running affordable holidays in a Christian environment
A very successful holiday for six in Scotland was held in September 2023, travelling by train to Edinburgh, Glasgow, Oban and Loch Lomond.
The Bible is taught each day on these holidays, which use self-catering accommodation.
3) arranging day trips and other open events
- The events this year have included two garden barbecues, featuring a Bible talk, and some Bank Holiday walks. Large gatherings were also held at Christmas and Chinese New Year.
4) holding Bible study meetings
- We run weekly Bible study meetings, at which the Bible, as the Word of God, is taught interactively. Newcomers are particularly welcome. Since lockdown, members have preferred to meet on line, using Zoom.
In planning the activities for the year, the Trustees have considered the Commission's guidance on public benefit and, in particular the specific guidance on charities for the advancement of religion.
Benefits following from the Aims
Communication of the Christian message is achieved not only by direct teaching and talks, but also by experiencing Christian love and fellowship through living together in a faith community.
In teaching and encouraging existing Christians, the community of believers is built up in maturity, sharing in each other’s joy and providing comfort and practical help to those in need.
In seeking new followers of Christ, the potential adherent is offered not only the future promise of eternal life, but also the more demonstrable benefit, both to the individual and to society, that comes from:
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having a clear purpose in life;
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freedom from guilt, through the forgiveness of sin;
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spiritual wisdom and strength to persevere in the face of suffering and persecution;
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the path to godliness and sanctification in the service of God and man.
Awareness and understanding of the Christian faith contributes:
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to the spiritual and moral education of all, through our provision of activities and teaching for all ages;
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• towards a better society by promoting social cohesion, through an inclusive environment that represents many local ethnic groupings.
The Trust’s activities are open to anyone (on a first come basis where numbers are limited) and are advertised by flyers and by word of mouth. Our followers come from many nationalities and ethnic groups and include single parent families.
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Lyonsdown Community Trust - Year to 5 April 2024
Detriment or Harm
The Scriptures are very clear about the harm that can come from false teaching, so we always ensure that all the teaching is clear and accurate and entirely based on the truth revealed in the Bible. As a further safeguard, we have given another established Christian charity, Lyonsdown Church Partnership, the right to nominate a trustee to our board.
Achievements and Performance
Voluntary income of £14,721 was received in the current year to 5 April 2024 (£6,615 in 2022/23) and the rent and activities generated £97,513 (£85,950 in 2022/23). Expenditure of £93,282 directly benefitted the charitable work (£77,389 in 2022/23), with no support costs (none in 2022/23).
A programme of building restoration has been partly completed, but is still ongoing. Nevertheless, the accommodation made a surplus of £4,281 (£8,811 in 2022/23).
Bible studies have been held every Friday evening throughout the period, with an average attendance of six to ten adults. This year we completed the book of Isaiah and started the Gospel of John. Recordings of the study are posted in Dropbox.
Financial Review and Financial Policies
Over the year there was a net operating surplus of £18,952 (£15,176 in 2022/23). There was also a gain in the value of the freehold house of £21,000 (loss of £18,000 in 2022/23).
Reserves Policy
“Reserves” describe that part of the funds that is freely available for general purposes at the discretion of the Trustees, but which is not yet spent, committed or designated, i.e. surplus liquid assets excluding endowments, restricted funds, designated funds and fixed assets held for the purposes of the Trust.
The Reserves Policy sets the level of financial reserves, in line with the guidance issued by the Charity Commission, in order to maximise the resources available for the work of the Trust.
The level at which these reserves is set should be adequate to cover the following elements:
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six months’ operating expenses of the Trust (say £45,000);
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any other contingencies or risks, assessed on the best evidence reasonably available, the likelihood of each of those needs arising, the possibility of support from elsewhere, and the potential consequences of the Trust not being able to meet those needs.
The maximum reserves figure for 2023/24, calculated on the basis of the above policy, is £45,000. There was actually £35,961 held in reserve on 5[th] April 2024 (£17,009 in reserve on 5[th] April 2023).
Investment Policy and Performance
It is the responsibility of the Trustees to review the performance of all investments from time to time. No investments are held at this present time.
The Trustees are also free to make loans as they see fit, but to take advice on the terms and rate of interest before doing so.
Grant-Making Policy
The Trustees have no current plans to make grants.
Fund-Raising
Fund-raising is not seen as necessary at present, as it is intended that the required resources will be provided by rental income.
Risk Assessment
It is the responsibility of the Trustees to identify, assess and mitigate any major risks to which it is exposed.
No major risks have been identified at the present time.
Plans for the Future
In 2024/25 we are planning to continue our normal activities, including day trips and self-catering holidays featuring Bible teaching.
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Lyonsdown Community Trust - Year to 5 April 2024
Structure, Governance and Management
Governing Documents
The Trust was formed by Deed of Trust executed on 1[st] November 2015.
It was registered by the Charity Commission as Charity Number 1165009 on 4[th] January 2016.
Board of Trustees
The Trustees for the whole of 2023/24 were Mr John Govey (chairman) and Prof Derek Spurgeon. Ms Silviya Kayryakova was appointed on 25[th] June 2023 to fill the vacancy of a third trustee. The Trustees meet at least twice a year, two Trustees forming a quorum. Alternatively, decisions may be taken by means of a resolution in writing, signed by all the Trustees.
The induction and training of new trustees is based on the comprehensive information available from the Charity Commission website.
Related Charities
Although the Lyonsdown Church Partnership (formerly the Friends of Holy Trinity Lyonsdown) has a right to appoint one Trustee to the Board, there is no majority of trustees in common and it is policy that all transactions between the two charities are on a commercial basis. It is therefore not considered that Lyonsdown Church Partnership is a ‘connected party’ to the Trust so as to require further disclosure.
Administrative Information
The Trust is based at 40d Station Road, New Barnet, Hertfordshire EN5 1QH.
A bank account in the name of Lyonsdown Community Trust is held with Barclays Bank PLC, Leicester LE87 2BB.
Annual Report approved by the Trustees and signed on their behalf by:
John Govey (chairman)
Date: 28[th] December 2024
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Lyonsdown Community Trust - Year to 5 April 2024
Statement of Financial Activities
| tatement of Financial Activities | ||||
|---|---|---|---|---|
| Total Funds | Total Funds | |||
| 2023/24 | 2022/23 | |||
| Unrestricted | Unrestricted | |||
| Income | ||||
| Donations and legacies | Notes | £ | £ | |
| Gift aided donations | 10,070 | 5,292 | ||
| Gift Aid tax recovered | 2,517 | 1,323 | ||
| Other donations | 2,134 | 0 | ||
| Total donations and legacies | 14,721 | 6,615 | ||
| Income from charitable activities | ||||
| 1) Rental income | 2 | 94,720 | 85,950 | |
| 2) Holiday income | 3 | 2,793 | 0 | |
| Total income from charitable activities | 97,513 | 85,950 | ||
| Total Income | 112,234 | 92,565 | ||
| Expenditure | ||||
| Expenditure on charitable activities | ||||
| 1) Residential property | 2 | 90,439 | 77,139 | |
| 2) Holidays – cottage rental and transport | 3 | 2,507 | 0 | |
| 3) Bible study evenings | 336 | 144 | ||
| 4) Christmas event | 0 | 106 | ||
| Total Expenditure | 93,282 | 77,389 | ||
| Gains (losses) on revaluation of fixed assets | ||||
| Unrealised- Freehold building |
21,000 | (18,000) | ||
| Net Income | 39,952 | (2,824) | ||
| Net Movement in Funds | 39,952 | (2,824) | ||
| Total funds brought forward Total funds carried forward |
1,364,009 1,403,961 |
1,366,834 1,364,009 |
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Lyonsdown Community Trust - Year to 5 April 2024
| Balance Sheet at 5 April Fixed Assets Freehold building: 41 Northumberland Road 5 Current Assets Debtors: refund due for repair work not done 1a Cash at bank: current account Total Current Assets Liabilities – Amounts falling due within one year Creditors: trustee expenses Total Net Current Assets Total Net Assets Funds 6 Unrestricted Restricted income funds Total Charity Funds |
2023/24 £ 1,368,000 20,000 15,961 35,961 0 35,961 1,403,961 1,403,961 0 1,403,961 |
2022/23 £ 1,347,000 20,000 1,398 21,398 (4,389) 17,009 1,364,009 1,364,009 0 1,364,009 |
|---|---|---|
Accounts approved by the Trustees and signed on their behalf by:
John Govey (chairman)
Date: 28[th] December 2024
The notes on pages 6 to 8 form part of these accounts.
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Lyonsdown Community Trust - Year to 5 April 2024
Notes to the Financial Statements
Note 1 Accounting Policies
1a Basis of preparation
These financial statements have been prepared for the year to 5 April 2024.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.
The financial statements have been prepared in accordance with 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 United Kingdom and Republic of Ireland (Charities SORP FRS 102, second edition, October 2019); the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) amended to January 2022; and the Charities Act 2011.
The Trust constitutes a public benefit entity as defined by FRS 102.
The trustees are pleased to report that the programme of building restoration is progressing and is being funded by increased rents. The Trust remains in a satisfactory state of solvency. The repair work that was not carried out relates to a new roof that the builder was unable to complete for personal reasons. He has subsequently agreed to make the refund. The work was finally completed in December 2024 by a different builder.
1b Funds
General funds represent the funds of the Trust that are not subject to any restrictions regarding their use and are available for application on the general purposes of the Trust. Funds designated for a particular purpose by the Trustees are also unrestricted.
The financial statements include all transactions, assets and liabilities for which the Trustees are responsible in law.
1c Income
Donations and legacies
Donations are recognised when received by or on behalf of the Trust. Income tax recoverable on Gift Aid donations is recognised when the income Is recognised. Grants and legacies to the Trust are accounted for as soon as the Trustees are notified of its entitlement, that receipt is probable and the amount due can be measured reliably.
As it is impractical for the contribution of volunteers to be measured reliably for accounting purposes, their voluntary work is not credited in the financial statements.
Income from charitable activities
All income from charitable activities is accounted for gross.
Investment income
Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year.
1d Expenditure
Grants
Grants and donations are recorded when paid, or when awarded if that award creates a constructive obligation on the Trustees.
Support costs
Support costs represent expenditure that does not directly relate to a specific activity. All support costs have been allocated to charitable activities because any allocation between the specific activities would be immaterial.
Irrecoverable VAT
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
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Lyonsdown Community Trust - Year to 5 April 2024
Notes to the Financial Statements (continued)
1e Fixed Assets
Vehicles, Fixtures, Fittings and Office Equipment
Equipment is depreciated on a straight-line basis over three years. Individual items with a purchase price of £1,000 or less are written off on acquisition.
1f Current Assets
Cash at bank and in hand
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.
Stock and Work in Progress
This is not shown on the Balance Sheet, as no significant stock is held.
1g Creditors and provisions
Creditors and provisions 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. Creditors and provisions are recognised at the amount the trustees anticipate it will pay to settle the debt.
Income and expenditure relating to an event in a future period is shown as prepayments.
1h Statement of cash flows
The financial statements do not include a statement of cash flows as the Trust constitutes a small charity under the SORP as amended by Update Bulletin 1.
Note 2 Community Accommodation
| 2023/24 Income Rents £ |
2023/24 Income Rents £ |
Lease £ Expenditure Maintenance £ Services £ Adviser £ Surplus (deficit) £ |
Lease £ Expenditure Maintenance £ Services £ Adviser £ Surplus (deficit) £ |
Lease £ Expenditure Maintenance £ Services £ Adviser £ Surplus (deficit) £ |
Lease £ Expenditure Maintenance £ Services £ Adviser £ Surplus (deficit) £ |
Lease £ Expenditure Maintenance £ Services £ Adviser £ Surplus (deficit) £ |
Lease £ Expenditure Maintenance £ Services £ Adviser £ Surplus (deficit) £ |
|---|---|---|---|---|---|---|---|
| 40 Station Road | 66,170 | (24,000) | (22,415) | (18,671) | (281) | 803 | |
| 41 Northumberland Road | 28,550 | 0 |
(14,350) |
(10,442) |
(280) |
3,478 | |
| Total | 94,720 | (24,000) | (36,765) |
(29.113) |
(561) |
4,281 | |
| 2022/23 40 Station Road 41 Northumberland Road Total |
59,050 26,900 85,950 |
(24,000) 0 (24,000) |
(13,785) (6,409) (20,194) |
(15,477) (10,310) (25,786) |
(3,579) (3,579) (7,158) |
2,209 6,602 8,811 |
Note 3 Holidays
| 2023/24 Income Charges £ Lettings £ Expenditure Transport £ Outings £ Surplus (deficit) £ |
2023/24 Income Charges £ Lettings £ Expenditure Transport £ Outings £ Surplus (deficit) £ |
2023/24 Income Charges £ Lettings £ Expenditure Transport £ Outings £ Surplus (deficit) £ |
2023/24 Income Charges £ Lettings £ Expenditure Transport £ Outings £ Surplus (deficit) £ |
2023/24 Income Charges £ Lettings £ Expenditure Transport £ Outings £ Surplus (deficit) £ |
|---|---|---|---|---|
| Scotland, by train | 2,793 | (1,593) | (764) | (150) 286 |
Total |
2,793 | (1,593) |
(764) |
(150) 286 |
| 2022/23 |
none
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Lyonsdown Community Trust - Year to 5 April 2024
Notes to the Financial Statements (continued)
Note 4 Related Party Transactions and Staff Employment
4a Trustee Remuneration
The key management personnel of the Trust constitute the Trustees.
No remuneration or expenses were paid to Trustees or other related parties in 2023/24, other than out-of-pocket expenses (and none in 2022/23).
No Trustees were paid in their role as a trustee in 2023/24 (and none in 2022/23).
4b Other Related Party Transactions
There were no other related party transactions in 2023/24 (and none in 2022/23), apart from unconditional donations to Lyonsdown from Trustees, totalling £10,000 (£5,242 in 2022/23) and services provided on a voluntary basis.
4c Staff Costs and Emoluments
No staff were employed in 2023/24 (and none in 2022/23).
A charity adviser was personally employed by the chairman; not by the Trust.
Note 5 Fixed Assets
| Tangible Fixed Assets: | Freehold Buildings at valuation | Freehold Buildings at valuation |
|---|---|---|
| 2023/24 | 2022/23 |
|
| £ | £ |
|
| At 6 April | 1,347,000 | 1,365,000 |
| Increase (decrease) in valuation | 21,000 | (18,000) |
| At 5 April | 1,368,000 | 1,347,000 |
The freehold property comprises a bequest of a residential detached house at 41 Northumberland Road, New Barnet, Hertfordshire EN5 1EB. The transfer was completed on 11th February 2019. It is revalued annually using the Nationwide Building Society house price index for Greater London and is used to carry out the Trust’s charitable purposes.
Reconciliation of Movements in Unrealised Gains and Losses on Fixed Assets
| Freehold Building £ Total £ Unrealised gains at 6 April 147,000 165,000 Gains (losses) made during the year 21,000 (18,000) Unrealised gains at 5 April 168,000 147,000 |
Freehold Building £ Total £ Unrealised gains at 6 April 147,000 165,000 Gains (losses) made during the year 21,000 (18,000) Unrealised gains at 5 April 168,000 147,000 |
Freehold Building £ Total £ Unrealised gains at 6 April 147,000 165,000 Gains (losses) made during the year 21,000 (18,000) Unrealised gains at 5 April 168,000 147,000 |
Freehold Building £ Total £ Unrealised gains at 6 April 147,000 165,000 Gains (losses) made during the year 21,000 (18,000) Unrealised gains at 5 April 168,000 147,000 |
|---|---|---|---|
| 147,000 | 165,000 | ||
| 21,000 | (18,000) | ||
| 168,000 | 147,000 |
Note 6 Fund Details
All charity funds are currently unrestricted. There were no restricted income or designated funds in 2023/24 (and none in 2022/23).
Summary of Fund Movements
| Balance £ 6 April Income £ Expenditure £ General funds 1,364,009 112,234 (93,282) Total 1,364,009 112,234 (93,282) alysis of Net Assets by Fund Unrestricted Funds £ Restricted Income Funds £ Fixed Assets 1,368,000 0 Current Assets 35,961 0 Liabilities 0 0 Fund Balance 1,403,961 0 |
Balance £ 6 April Income £ Expenditure £ General funds 1,364,009 112,234 (93,282) Total 1,364,009 112,234 (93,282) alysis of Net Assets by Fund Unrestricted Funds £ Restricted Income Funds £ Fixed Assets 1,368,000 0 Current Assets 35,961 0 Liabilities 0 0 Fund Balance 1,403,961 0 |
Income £ Expenditure £ |
Income £ Expenditure £ |
Income £ Expenditure £ |
Gains £ |
Funds £ 5 April |
|---|---|---|---|---|---|---|
| 1,364,009 | 112,234 | (93,282) | 21,000 | 1,403,961 | ||
| 1,364,009 | 112,234 | (93,282) |
21,000 | 1,403,961 | ||
Unrestricted Funds £ Restricted Income Funds £ 1,368,000 0 35,961 0 0 0 1,403,961 0 |
Total £ 1,368,000 35,961 0 1,403,961 |
|||||
| 1,368,000 0 |
||||||
| 35,961 0 |
||||||
| 0 0 |
||||||
| 1,403,961 0 |
Analysis of Net Assets by Fund
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Lyonsdown Community Trust - Year to 5 April 2024
Independent Examiner's Report to the Trustees of Lyonsdown Community Trust
I report on the financial statements of Lyonsdown Community Trust, for the year ended 5[th] April 2024, as set out on pages 4 to 8.
Respective Responsibilities of Trustees and Examiner
The charity's trustees are responsible for the preparation of the financial statements. The charity's trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the Act)) and that an independent examination is needed.
It is my responsibility to:
-
examine the financial statements (under section 145 of the Act);
-
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Act); and
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to state whether particular matters have come to my attention.
Basis of Independent Examiner's Report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, 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 no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent Examiner's Statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 130 of the Act; and
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to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act
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have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Signed:
Date: 28[th] January 2025
Annette Foster
47 York Road New Barnet Herts. EN5 1LN
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