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2021-03-31-accounts

CHARITY REGISTRATION NUMBER: 1168707

The Henry Lonsdale Trust Financial Statements

31 March 2021

SAINT & CO

Chartered Accountants & statutory auditor Sterling House Wavell Drive, Rosehill Carlisle, Cumbria CA1 2SA

The Henry Lonsdale Trust

Financial Statements

Year ended 31 March 2021

Page
Trustees' annual report 1
Independent auditor's report to the members 14
Statement of financial activities 18
Statement of financial position 19
Statement of cash flows 20
Notes to the financial statements 21

The Henry Lonsdale Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

The Trustees present their report and the financial statements of the Henry Lonsdale Trust (Registered Number 1168707 (the “CIO”) for the year ended 31 March 2021

REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name The Henry Lonsdale Trust
Charity registration number 1168707
Principal office Rosehill Residential Home
Aglionby
Carlisle
CA4 8AA
The Trustees C Bowditch
J Riddle (Vice-Chairman)
J Mallinson (Chairman)

J Leith
J Bell
C Stothard
A McKerrell
Auditor Saint & Co
Chartered Accountants & Statutory Auditor
Sterling House
Wavell Drive, Rosehill
Carlisle, Cumbria
CA1 2SA
Bankers HSBC Plc
English Street
Carlisle
Cumbria
CA3 8JT
Solicitors Burnetts Solicitors
Victoria House
Wavell Drive
Rosehill
Carlisle
CA1 2ST

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The Henry Lonsdale Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

1.1 Trustees

The Trustees who served during the year, all of whom are volunteers, were as follows:

Mr J Mallinson (Chairman) Mrs J Riddle (Vice Chairman) Mr J Bell Mrs C Bowditch Ms J Leith Mrs A V McKerrell Mr C Stothard

1.2 The Governing Document and the Constitution of the CIO

The CIO is a charitable incorporated organisation and is governed by a constitution dated 10[th] August 2016. It was set up to take over from The Henry Lonsdale Charitable Trust (charity number 508840). The transfer of the assets from the predecessor charity to the CIO took place on 31[st] October 2018. The charitable purposes of the CIO are identical to those of the unincorporated charity. The Henry Lonsdale Charitable Trust was formally merged with the CIO on the 5 October 2020 and the predecessor Trust ceased to exist from that date.

The information in this Trustees’ Report relates to the period from 1 April 2020 to the 31 March 2021, the second full year of operation of the CIO.

1.3 Appointment of Trustees

There should be not less and not more than three appointed Trustees; and not less and not more than four Nominated Trustees. Cumbria County Council or any successor body which has responsibility for adult social care (“the appointing body”) is entitled to appoint four Nominated Trustees, each appointment being for a term of three years.

Apart from the first Charity Trustees, every appointed Trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the Charity Trustees. In selecting individuals for appointment as appointed Charity Trustees, the Charity Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

All newly appointed Trustees undertake induction and training as appropriate to their needs. This includes guided visits to the Homes operated by the CIO and to its administrative headquarters to view the properties, meet the residents and staff and become familiar with the aims of the CIO and its ethos. Additionally, new Trustees are provided with a copy of the most recent Annual Report of the CIO and are sent copies of its policies and procedures relating both to residents and staff. When a Trustee’s term of appointment expires, assuming he/she is willing to continue to act and remains eligible to do so, the Trustee is asked to confirm that there has been no change in his/her circumstances which would affect his/her ability to act as well as confirming that he/she is able to take up re-appointment from the relevant date.

A compliance file in respect of each Trustee is held at each Home. Enhanced Disclosure and Barring Service checks are obtained in respect of each Trustee.

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The Henry Lonsdale Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

1.4 Organisational and Decision-Making Structure

The CIO’s residential homes are each managed by a Registered Manager to whom operational decisions are devolved. Ultimate responsibility rests with the Trustees, who take all decisions, related to the policy and strategy of the CIO.

All matters requiring Trustee consideration and/or decision are brought to meetings of the Trustees. Trustees meet as and when required, but typically there is a quarterly meeting schedule.

1.5 Risk Management

The major risks to which the CIO is exposed, as identified by the Trustees, have been subjected to detailed consideration. Systems and procedures have been established to mitigate those risks.

OBJECTIVES AND ACTIVITIES

2.1 The Object of the CIO

The object of the CIO is the relief of needy elderly people in one or more of the following ways:

2.2 The Aims of the CIO

The principal aim of the CIO is to provide high quality, professional residential care at two Homes for elderly persons of limited means at Rosehill and Barn Close, Carlisle. When it became actively operational (on 31 October, 2018) the CIO became responsible for the ongoing management of the Homes and the Care Quality Commission (“CQC”) license transferred to the CIO.

Access to the CIO’s Homes is available to all elderly persons in respect of whom, following formal assessment, the CIO is satisfied that it can provide the appropriate level and type of care that the Home in question is registered to provide. Decisions as to admission to residence are made regardless of such matters such as personal background, faith or personal circumstances. Access to the facilities provided within the Homes is similarly ‘open to all’. Through those activities, the CIO seeks to care for such elderly persons and enhance the quality of the later stages of their lives. The care provided by the CIO is thus related to the particular needs of its beneficiaries and to the CIO’s aims.

The CIO’s aims are, therefore, capable of being charitable in that they fall within the descriptions of purposes in the Charities Act 2006: relief of those in need by reason of age, ill health, disability, financial hardship or other disadvantage.

The Trustees have had regard to the Charity Commission’s guidance on public benefit and are satisfied that the principles of public benefit set out by the Charity Commission are met:

Principle 1: an identifiable benefit or benefits

The benefits are the provision of accommodation and care to elderly persons. The operation of a care home is a legitimate means of relieving the needs of the aged and/or infirm. Those benefits are related to the CIO’s aims in that they arise as a direct result of the CIO pursuing its charitable aims. The

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The Henry Lonsdale Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

care provided by the CIO is related to the particular needs of its beneficiaries and to the CIO’s aim and all beneficiaries are assessed for care need before entering one or other of the CIO’s two Homes.

There is no evidence of any (let alone significant) detrimental or harmful effects arising from the CIO carrying out its aims.

Principle 2: benefit must be to the public or a section of the public

The CIO’s primary beneficiaries are the residents in its Homes. They are “needy” and “elderly”. The beneficial class is, therefore, clearly appropriate to the charitable aims of the CIO as there is an obvious connection between the aim and the residents who are in need of care. There are currently 76 residential placements available across the two homes; 40 EMI beds at Rosehill and 36 physically frail at Barn Close. Anyone who, by reference to the registration requirements of the respective Homes, is eligible to become a resident will be considered for residence.

The CIO also provides support to beneficiaries who are not resident in the Homes by way of grant funding, to support the activities of Age UK Carlisle and Eden (see 2.6 below).

The opportunity to benefit is not unreasonably restricted. Indeed, the only restriction derives from the object of the CIO, which is directed at people who are “needy” and “elderly”.

Geographical restriction : There is no express geographical restriction in the stated objects of the CIO that is applied to the opportunity to benefit. In practice, for obvious reasons, most of the residents are people from Carlisle. The CIO does, however, accept into its Homes residents from elsewhere in the Country. This typically arises where members of the resident’s family are themselves resident in or around Carlisle.

Residents’ needs : As mentioned above, residents are only admitted to one or other of the two Homes following an assessment of their needs so as to ensure that the particular Home can provide adequate care. The need for care of each beneficiary is assessed at the time of admission. The CIO does not provide access to residence for those in need of full medical or nursing care as it is not registered to provide such care.

Charges : While the CIO does charge fees, seeking contributions to fees for residential care is expressly provided for in its founding charitable Scheme. For many years the CIO adopted, as the fee that it would seek from all residents, the fee set from time to time by Cumbria County Council as the fee that it, as Social Services Authority, paid to the CIO in respect of those residents who were funded by that Council.

In the year ending 2016, the Trustees decided with some reluctance and following consultations with residents and their families, that as a result of continuing and increasing financial pressures on the sector, the weekly fee charged to privately-funded residents would be increased by a supplement over the fee paid by the County Council in respect of Social Services funded residents.

The Trustees resolved at their meeting on the 5 February 2020 to increase the supplement top up fee payable by privately-funded residents to £100; the increased fee to be implemented as the respective Registered Managers saw fit.

Local authority funding can be available to meet the full fees of prospective residents who are unable to pay from their own resources. There are therefore opportunities for which those who are unable to afford the charges sought by the CIO can benefit from the CIO’s provision. As such, there is no restriction based on ability to pay.

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The Henry Lonsdale Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

Thus, taking into account what is reasonable and appropriate in the circumstances, the Trustees are satisfied that the CIO does provide sufficient opportunity to benefit in a material way for those who cannot afford the financial contributions that it seeks from its residents towards the provision of care and facilities as provided in its founding Charitable Scheme.

Taking together the above considerations, the Trustees are satisfied that the restrictions on people who have the opportunity to benefit are rational and justifiable and that the opportunity to benefit is not unreasonably restricted by geographical or other factors.

The CIO does not provide private benefits to people other than its beneficiaries.

2.3 The Objectives of the CIO

In setting the objectives for the CIO and planning its strategies and activities referred to in this Report, the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit.

The principal objectives of the CIO can be summarised as follows:

2.4 The Strategies of the CIO

The CIO’s strategies for achieving the above objectives during normal years include, for example, providing staff with such training as is necessary and appropriate both ‘in-house’ and through relevant external providers. The CIO’s policy aim is to try to exceed the requirement of the Care Standards Act 2000 and the expectations of the Care Quality Commission (“CQC”) by encouraging all care staff to achieve at least the Health Social Care Diploma Level 2. The CIO similarly aims to ensure that suitable training is provided for its administrative staff who are encouraged to pursue relevant courses of training. It is through a combination of the material environment and the training of staff that quality residential care is provided to the residents.

The Year in question commenced almost in tandem with the first COVID 19 lockdown and the operation of the Homes continues to be governed by the changing requirements of dealing with the virus. The primary goal was and remains the health and safety of the residents and staff which, for obvious reasons, has impacted on the hitherto normal training opportunities. The CIO will continue to aim to provide the best training that the situation and the environment permits. This includes the Trust appointing an in-house trainer on the 6 April 2021.

2.5 Significant Activities

The nature of the CIO is not such that it undertakes, in particular years, specific programmes or projects to achieve its objects and further its aims. Rather, the role and activities of the CIO are more ongoing in nature, reflecting the respective needs of the elderly persons for whom it provides care. The significance of the activities of the CIO, therefore, is that it continues to provide high quality care rather than that it undertakes any ‘one- off’ programmes or projects of particular importance during any particular year.

The Trustees aim to continue to enhance the service on an ongoing basis. During the Year in question the ability to do so was affected by the COVID 19 virus, and the significant pressures on the care sector have continued into the current year.

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The Henry Lonsdale Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

2.6 Grant-making Policy

The original object of the CIO was directed at the provision of a residential care home. That object was amended in 1992 to include the relief of needy elderly people by the provision of financial assistance.

In accordance with this amendment the Trustees agreed, in 2016 , to make a grant to Age UK Carlisle and Eden to fund a Carlisle-based Information and Advice Officer, employed by that Charity, for a period of three years expiring on the 30 June 2019.

The Trustees then agreed to make a further grant to Age UK Carlisle and Eden in the order of £86,740 to continue the service for a further period of three years commencing on the 1 July 2019.

As that is the only grant made by the CIO, it does not have a formal grant-making policy. Instead, the Trustees maintain close scrutiny of the service provided by receiving regular reports of its activities.

ACHIEVEMENTS AND PERFORMANCE

3.1 Charitable Activities: Performance against Objectives

(i) Formal assessment

As mentioned above, the key objective of the CIO is to provide high quality, professional residential care. The best measure of whether the performance of the CIO achieved that objective can be drawn from the reports of formal inspections undertaken from time to time at the Homes by CQC, and from less formal ongoing liaison with the CQC. The Registered Managers maintain good links with the CQC enjoying positive feedback in the process.

The Trustees normally have a system of monthly rota visits to the Homes resulting in each of the Trustees undertaking two visits at each of the Homes during the year. This arrangement had, for obvious reasons, to be suspended during the Year in question because of COVID 19. The Chair and Vice Chair of the Trustees remained in close contact with the Registered Managers during the Year offering their close support.

(ii) Informal assessment

Less formal measures of the extent to which the CIO’s performance achieves its objectives can be drawn, first, from the fact that places within the Homes are much sought after either by potential residents themselves or their families and professional carers and, secondly, from the many letters of appreciation that are received.

Slightly more formally, the Managers from time-to-time issue Quality Assurance Questionnaires to residents, relatives, visitors and representatives of relevant professional agencies. A good return of the questionnaires is normally achieved with the vast majority of responses being very positive and complimentary. Negative comments have rarely been made but any that are received are swiftly looked into and resolved.

During the Year in question, visiting had to take second place to the need to prioritise the health and safety of residents with the result that the opportunity for visitor feed-back was significantly limited. Nevertheless, the efforts of all staff in very difficult circumstances were very much appreciated by residents and their families alike, as well as by the Trustees.

(iii) Other achievements

Additionally, the Trustees consider that the following achievements are worthy of particular mention.

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The Henry Lonsdale Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

These apply in normal years and were followed during the Year in question only in as much as the COVID 19 situation allowed. In some cases, because of the need to protect the well- being of residents and staff, the opportunities during the Year in question were very limited.

Residential Care

Staffing

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The Henry Lonsdale Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

The position during the Year in question has meant that working conditions for staff have been extremely challenging and difficult, with examples being having to wear uncomfortable PPE to having to work within a constrained and isolated environment. Overall, staff responded magnificently but the situation only exacerbated the problems of recruitment and retention which are serious.

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The Henry Lonsdale Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

also for longer term continuity planning.

Finance and Administration

Property & Premises

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The Henry Lonsdale Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

2021 saw a change in market conditions which allowed the developer to proceed with its plans and seek to agree a purchase of the land. The Trustees took professional advice for the purpose of the negotiations and at a specially convened meeting of the Trustees on 20 April 2021, the Trustees approved the terms for the sale of the land to the developer. The current target, subject to planning permissions etc, is to complete the sale by the end of the first quarter of 2022.

3.2 Investments: Performance against Objectives by the Trustees

(i) Objectives

The Trustees long standing objective for its investments has been to try to protect the value of the Trust’s capital whilst aiming for some capital growth and a competitive income. The Trust had previously invested principally in two funds: CCLA and Premier Asset Management. The investments were largely a mix of different asset classes including shares which, understandably, resulted in occasional volatility from time to time. The need for astute financial management has become even more acute, firstly, because of the recent history of low interest rates, and secondly (and more up to date), because of the likely impact of COVID 19 and the impact on investments.

Trustees have taken regular guidance from their investment adviser as and when cash is needed and/or when investments reach their maturity date. In 2018/2019, the advisor advised a change in the investment portfolio. He recommended investments in three funds, a Defensive Income Securities Fund, a Social Freehold Fund and a Commercial Freehold Fund, and the Trustees considered and accepted his advice in that respect.

In the course of 2019/2020, the adviser invested the funds with Time Investments in accordance with his recommendations and the Trustees approval. He provides regular reports on their performance to the Trustees at their quarterly meetings for their consideration and review.

3.3 External Factors

There are a number of factors outside the CIO’s control, which are relevant to the achievement of its objectives. These include relationships with employees, residents, their families, other carers and professionals, Cumbria County Council (as social services authority), social workers and other employees of that Council and the CIO’s position in the wider community. It is pleasing to note that the relationships with all these individuals and organisations are good.

The CIO maintains close contact with the Care Quality Commission (CQC) from whom it receives very good and positive feedback, and which is always available for advice and support.

As mentioned above, a particular influence of the County Council is that it fixes the fees that it will pay towards the care and accommodation provided by the CIO to residents supported by that Council. The CIO is not in a position to influence the level of fee that is set by the County Council. This fee also impacts upon the contribution that is sought from all other privately funded residents towards the costs of their residence as it provides the base level to which is added the supplement payable by privately funded residents. A uniform initial supplement of £70 per week was originally applied to all privately funded residents, and as reported above, provision was made in 2019/2020 to extend this to £100 per week.

FINANCIAL REVIEW

4.1 Reserves Policy

A detailed breakdown of the CIO’s funds is contained in the Financial Statements with a narrative at notes 24 and 25.

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The Henry Lonsdale Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

Total funds of £3,804,521 were held at the year-end of which £2,984,105 can only be realised by disposing of tangible fixed assets or investment property. As Note 24 explains, within the unrestricted funds, the Trust had designated funds of £100,675 as at 31 March 2021. This was to make provision for and enable any future unforeseen emergency repairs.

After accounting for the above, this leaves unallocated reserves which are available for use by the CIO totalling £719,741.

Unallocated reserves are available for use by the CIO totalling £719,741. The policy of the CIO is to attempt to maintain sufficient unallocated reserves representing approximately one year’s total operating costs (which this year amounted to £2,751,689 (excluding depreciation)) on the basis of the time that might be necessary to reconstruct the residential Homes following a major incident and the costs relating thereto, particularly in connection with the temporary accommodation of residents.

The level of reserves is monitored and reviewed by the Trustees as necessary and at least once each year.

4.2 Principal Funding Sources

The CIO’s principal source of funding was the contributions that were received from residents (or from local authorities on behalf of residents) towards the fees of providing them with accommodation and care. The whole of the CIO’s expenditure in the year has supported the objectives of the CIO principally the key objective of providing high quality residential care. The greater part of the expenditure is directly related to the provision of such care (primarily staff wages and salaries) with lesser amounts (such as in relation to staff training, maintenance of the fabric of the Homes and management and administration of the CIO) being indirectly related to that objective. As already described above the CIO does make a grant award to Age UK Carlisle and Eden to support for non-residential beneficiaries. During the current and prior year the CIO did not carry out any significant fundraising activities.

4.3 Investment Powers

The Scheme authorises the Trustees to make and hold investments using the general funds of the CIO. At 31 March 2021, investments of £5,153 at cost were held with COIF charities investment fund, and £500,000 in other investments (i.e. portfolio and long-term savings). Under the terms of the Statement of Recommended Practice, Accounting by Charities, the investments were revalued and as at 31 March 2021 stood at a total market value of £578,121. This comprised listed investments at nil and other investments at £578,121.

4.4 Indemnity Insurance

The CIO purchased trustee indemnity insurance as part of their main insurance policy, and therefore the trustees have been unable to determine the associated cost this year.

4.5 Policy Considerations

The Trustees are always mindful of their obligations as trustees to act in the best interests of the CIO and to meet the CIO’s objectives. Trustees have been very alert to the increasing financial pressures in the sector and have stressed the importance of careful scrutiny of expenditure. In July 2017, the Trustees reiterated those aims by formally adopting the principle of looking at best value from the Trust’s service providers, and that policy has continued to be implemented to date.

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The Henry Lonsdale Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

PLANS FOR FUTURE PERIODS

Since the CIO acquired and began to operate its second residential Care Home (Barn Close) and increased provision at its first Care Home (Rosehill) by some twenty-five percent it has continued a phase of consolidation and stability. As mentioned at paragraph 2.5 above its role is to pursue, on an ongoing basis, its principal activity of the provision of high-quality residential care. As such, the aims and key objectives of will continue forward into future years.

COVID 19 caught the tail end of the reporting year 2019/2020 such that its impact on that reporting year was negligible. That position changed during the Year in question. The two Homes were expertly managed by their managers and dedicated staff such that it was a long time into 2020 before the first cases of COVID 19 affected some of the staff. Isolated incidents notwithstanding, good and effective management of the two Homes against the virus has remained the order of the day.

Having said that, the confidence of the general public in the care home sector and its ability to protect against COVID 19, has undoubtedly been dented. Despite the good record of both Homes on the COVID19 front, the general public loss of confidence led to some decrease in enquiries and applications for physically frail places at the Barn Close home. This led to the need to make some redundancies at that Home. The position with regard to the Rosehill Home is that there has continued to be a full waiting list for EMI places at that Home.

The overall situation is improving particularly in the light of the successful vaccination programme first announced in November 2020, and the projected implementation of a booster jab in the latter part of 2021.

That is not to underestimate the considerable strain and the difficult conditions under which all staff have had (and continue) to operate, and the consequent impact on recruitment and retention which is severe. The Trustees have recorded their thanks to all staff for their efforts. Nevertheless, the Trustees are acutely aware of the need to closely monitor that situation, including income and expenditure, and will take such decisions as are necessary to ensure that the requisite care standards are maintained.

The quality of the GP service allocated by the CCG to the Rosehill Home has been a source of concern for some time. The Home and the Trustees have been liaising with the Clinical Commissioning Group (CCG) in relation to this. The CCG put in hand measures to improve the performance of the relevant service and, initially, these led to certain improvements though there is concern that there have been signs of possible regression. The Home and the Trustees will continue to liaise with the CCG and take whatever steps are open to it to ensure that the best possible service is available to the Home.

CONCLUSION

2018/2019 saw the transfer of business from the unincorporated charity to the CIO.

In 2020/2021, and despite the extremely trying situation created by the pandemic, the CIO continued to achieve what the Trustees regard as its principal object i.e. the provision of Homes for elderly people, the quality of which and, most importantly, the quality of care within which, are both considered to be second to none. That remains the standard and goal of the CIO going forward.

Trustees' responsibilities statement

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources

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The Henry Lonsdale Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

and application of resources, of the charity for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' annual report was approved on 2[nd] November 2021 and signed on behalf of the board of trustees by:

J Riddle (Vice-Chairman) Trustee

J Mallinson (Chairman) Trustee

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The Henry Lonsdale Trust

Independent Auditor's Report to the Members of The Henry Lonsdale Trust

Year ended 31 March 2021

Opinion

We have audited the financial statements of The Henry Lonsdale Trust (the 'charity') for the year ended 31 March 2021 which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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The Henry Lonsdale Trust

Independent Auditor's Report to the Members of The Henry Lonsdale Trust (continued)

Year ended 31 March 2021

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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The Henry Lonsdale Trust

Independent Auditor's Report to the Members of The Henry Lonsdale Trust (continued)

Year ended 31 March 2021

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

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The Henry Lonsdale Trust

Independent Auditor's Report to the Members of The Henry Lonsdale Trust (continued)

Year ended 31 March 2021

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

Stuart Farrer (Senior Statutory Auditor)

For and on behalf of Saint & Co Chartered Accountants & statutory auditor Sterling House Wavell Drive, Rosehill Carlisle, Cumbria CA1 2SA

26 November 2021

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The Henry Lonsdale Trust

Statement of Financial Activities

Year ended 31 March 2021

2021 2021 2020
Unrestricted
funds Total funds Total funds
Note £ £ £
Income and endowments
Donations and legacies 4 202,109 202,109 1,198
Charitable activities 5 2,585,381 2,585,381 2,539,188
Investment income 6 103,868 103,868 90,026
-------------------------------------------- -------------------------------------------- --------------------------------------------
Total income 2,891,358 2,891,358 2,630,412
============================================ ============================================ ============================================
Expenditure
Expenditure on charitable activities 7,8 (2,837,354) (2,837,354) (2,685,673)
-------------------------------------------- -------------------------------------------- --------------------------------------------
Total expenditure (2,837,354) (2,837,354) (2,685,673)
============================================ ============================================ ============================================
Net gains/(losses) on investments 11 18,547 18,547 (21,405)
-------------------------------------------- -------------------------------------------- --------------------------------------------
Net income/(expenditure) and net movement in funds 72,551 72,551 (76,666)
============================================ ============================================ ============================================
Reconciliation of funds
Total funds brought forward 3,731,970 3,731,970 3,808,636
-------------------------------------------- -------------------------------------------- --------------------------------------------
Total funds carried forward 3,804,521 3,804,521 3,731,970
============================================ ============================================ ============================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 21 to 32 form part of these financial statements.

- 18 -

The Henry Lonsdale Trust

Statement of Financial Position

31 March 2021

2021 2020
Note £ £ £
Fixed assets
Tangible fixed assets 16 1,734,105 1,673,790
Investments 17 1,828,121 1,809,574
-------------------------------------------- --------------------------------------------
3,562,226 3,483,364
Current assets
Debtors 18 71,457 101,376
Cash at bank and in hand 565,129 520,724
---------------------------------- ----------------------------------
636,586 622,100
Creditors: amounts falling due within one year 19 394,291 371,589
---------------------------------- ----------------------------------
Net current assets 242,295 250,511
-------------------------------------------- --------------------------------------------
Total assets less current liabilities 3,804,521 3,733,875
Creditors: amounts falling due after more than one year 20 – 1,905
-------------------------------------------- --------------------------------------------
Net assets 3,804,521 3,731,970
============================================ ============================================
Funds of the charity
Unrestricted funds 3,804,521 3,731,970
-------------------------------------------- --------------------------------------------
Total charity funds 24 3,804,521 3,731,970
============================================ ============================================

These financial statements were approved by the board of trustees and authorised for issue on 2[nd] November 2021, and are signed on behalf of the board by:

J Riddle (Vice-Chairman) Trustee

J Mallinson (Chairman) Trustee

The notes on pages 21 to 32 form part of these financial statements.

- 19 -

The Henry Lonsdale Trust

Statement of Cash Flows

Year ended 31 March 2021

2021 2020
£ £
Cash flows from operating activities
Net income/(expenditure) 72,551 (76,666)
Adjustments for:
Depreciation of tangible fixed assets 85,665 81,127
Government grant income (186,429) –
Net (gains)/losses on investments (18,547) 21,405
Other interest receivable and similar income (103,868) (90,026)
Interest payable and similar charges 194 480
Accrued expenses 8,135 –
Changes in:
Trade and other debtors 29,919 (40,339)
Trade and other creditors 17,321 85,712
---------------------------------- -----------------------------
Cash generated from operations (95,059) (18,307)
Interest paid (194) (480)
Interest received, Rental income and Other property related income 103,868 90,026
---------------------------------- -----------------------------
Net cash from operating activities 8,615 71,239
================================== =============================
Cash flows from investing activities
Purchase of tangible assets (145,980) (72,928)
Purchases of other investments – (500,000)
---------------------------------- ----------------------------------
Net cash used in investing activities (145,980) (572,928)
================================== ==================================
Cash flows from financing activities
Government grant income 186,429 –
Movements in HP and finance lease liabilities (4,659) (4,374)
---------------------------------- ----------------------------------
Net cash from/(used in) financing activities 181,770 (4,374)
================================== ==================================
Net increase/(decrease) in cash and cash equivalents 44,405 (506,063)
Cash and cash equivalents at beginning of year 520,724 1,026,787
---------------------------------- --------------------------------------------
Cash and cash equivalents at end of year 565,129 520,724
================================== ============================================

The notes on pages 21 to 32 form part of these financial statements.

- 20 -

The Henry Lonsdale Trust

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Rosehill Residential Home, Aglionby, Carlisle, Cumbria, CA4 8AA.

2. Statement of compliance

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 April 2015.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The CIO meets the definition of a public benefit entity under FRS102.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements

The trustees believe there were no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have a significant effect on the amounts recognised in the financial statements.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year as follows:

- 21 -

The Henry Lonsdale Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Fund accounting

The charity's general, unrestricted funds are those available for general 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.

Restricted funds, of which there were none, are those resources where the income and related expenditure are not available for general use, but are to be used in accordance with the specific wishes of the donor or which have been raised by the charity for a particular purpose.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The trustees have discretion to allocate funds to particular resources as they so wish. The aim and use of each designated fund is set out in the notes to the financial statements.

Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

- 22 -

The Henry Lonsdale Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes irrecoverable VAT, and is classified under headings of the statement of financial activities to which it relates:

Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis as deemed by the trustees.

Value added tax

The charity is not registered for VAT, and Value Added Tax is not recoverable by the charity. As such, it is included in the relevant costs in the Statement of Financial Activities.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are shown as additions; with cost equal to the net book value recognised at the date of transfer to this CIO. Subsequently they will be stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset. The following depreciation rates for assets transferred to this CIO have been applied to the original cost of the assets rather than the transfer value.

Freehold property - Over 50 years
Leasehold property - Over the period of lease
Furniture and equipment - 15% reducing balance
Equipment (Energy generating) - Over 20 years

Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

- 23 -

The Henry Lonsdale Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.

Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

- 24 -

The Henry Lonsdale Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

Defined contribution plans

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered scheme. The contributions are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Donations
Miscellaneous donations 646 646 1,198 1,198
Donated PPE 15,034 15,034 – –
Grants
Government grant income 186,429 186,429 – –
---------------------------------- ---------------------------------- ------------------------ ------------------------
202,109 202,109 1,198 1,198
================================== ================================== ======================== ========================

Donated PPE relates to PPE provided at no charge from the local authority in repsonse to the Covid-19 pandemic.

Government grants consist of £14,747 received via the Coronavirus Job Retention Scheme and £171,682 in relation to Residential and Nursing payments.

- 25 -

The Henry Lonsdale Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

5. Charitable activities

Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Residential fees 1,763,650 1,763,650 1,770,977 1,770,977
Local Authority Contributions 821,731 821,731 768,211 768,211
-------------------------------------------- -------------------------------------------- -------------------------------------------- --------------------------------------------
2,585,381 2,585,381 2,539,188 2,539,188
============================================ ============================================ ============================================ ============================================
nvestment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Investment income 24,175 24,175 12,541 12,541
Rental income 25,922 25,922 23,415 23,415
Other property related income 53,771 53,771 54,070 54,070
---------------------------------- ---------------------------------- ----------------------------- -----------------------------
103,868 103,868 90,026 90,026
================================== ================================== ============================= =============================
xpenditure on charitable activities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Rosehill Residential Home 1,514,516 1,514,516 1,387,741 1,387,741
Barn Close Residential Home 1,138,714 1,138,714 1,100,520 1,100,520
Estates 33,690 33,690 36,326 36,326
Grants payable 28,840 28,840 28,712 28,712
Support costs 121,594 121,594 132,374 132,374
-------------------------------------------- -------------------------------------------- -------------------------------------------- --------------------------------------------
2,837,354 2,837,354 2,685,673 2,685,673
============================================ ============================================ ============================================ ============================================

6. Investment income

7. Expenditure on charitable activities by fund type

8. Expenditure on charitable activities by activity type

Activities
undertaken Grant funding Total funds Total fund
directly of activities Support costs 2021 2020
£ £ £ £ £
Rosehill Residential Home 1,514,516 – 36,914 1,551,430 1,419,275
Barn Close Residential
Home 1,138,714 – 33,620 1,172,334 1,130,545
Estates 33,690 – 3,883 37,573 40,786
Grants payable – 28,840 – 28,840 28,712
Governance costs – – 47,177 47,177 66,355
-------------------------------------------- ----------------------------- ---------------------------------- -------------------------------------------- --------------------------------------------
2,686,920 28,840 121,594 2,837,354 2,685,673
============================================ ============================= ================================== ============================================ ============================================

- 26 -

The Henry Lonsdale Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

9. Analysis of support costs

Rosehill Barn Close
Residential Residential
Home Home Estates Total 2021 Total 2020
£ £ £ £ £
Staff costs 25,167 25,167 – 50,334 44,512
General office 11,747 8,452 – 20,199 17,047
Governance costs 23,589 23,589 3,883 51,061 70,815
----------------------------- ----------------------------- ------------------------ ---------------------------------- ----------------------------------
60,503 57,208 3,883 121,594 132,374
============================= ============================= ======================== ================================== ==================================
Analysis of grants
2021 2020
£ £
Grants to institutions
Age UK Carlisle & Eden - Information and Advice Services 28,840 28,712
----------------------------- -----------------------------
Total grants 28,840 28,712
============================= =============================
Net gains/(losses) on investments
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Unrealised gains/(losses) on revaluation
of investments 18,547 18,547 (21,405) (21,405)
============================= ============================= ============================= =============================
Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
2021 2020
£ £
Depreciation of tangible fixed assets 85,665 81,127
Staff pension costs 37,877 30,653
Operating lease payments 24,375 24,058
============================= =============================

10. Analysis of grants

Grants to institutions

11. Net gains/(losses) on investments

12. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

13. Auditors remuneration

2021 2020
£ £
Fees payable to the charity's auditor and its associates for other services:
Audit-related assurance services 5,300 5,220
Payroll 8,447 7,434
Accountancy 8,295 7,873
----------------------------- -----------------------------
22,042 20,527
============================= =============================

- 27 -

The Henry Lonsdale Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

14. Staff costs

During the year £458 was paid as pay in lieu of notice to staff members who were made redundant, this has been included in wages and salaries.

The average head count of employees during the year was 125 (2020: 133). The average number of fulltime equivalent employees during the year is analysed as follows:

2021 2020
No. No.
Number of production staff 121 129
Number of management staff 4 4
--------------- ---------------
125 133
=============== ===============

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

15. Trustee remuneration and expenses

None of the trustees were entitled to or received any remuneration during the year. During the year, no trustees were reimbursed for travelling expenses. Trustees indemnity insurance was purchased by the Trust.

Key management personnel

The key management personnel of the charity comprise the two home managers. The total amount of employee benefits (including employer pension contributions) received by key management personnel for their services to the charity was £103,732 (2020: £96,632).

16. Tangible fixed assets

Long
Freehold leasehold Fixtures and Assets under
property property fittings Equipment construction Total
£ £ £ £ £ £
Cost
At 1 Apr 2020 885,766 277,751 206,552 417,356 – 1,787,425
Additions – – 26,396 – 119,584 145,980
---------------------------------- ---------------------------------- ---------------------------------- ---------------------------------- ---------------------------------- --------------------------------------------
At 31 Mar 2021 885,766 277,751 232,948 417,356 119,584 1,933,405
================================== ================================== ================================== ================================== ================================== ============================================
Depreciation
At 1 Apr 2020 39,965 5,772 31,904 35,994 – 113,635
Charge for the year 28,210 4,074 27,973 25,408 – 85,665
---------------------------------- ---------------------------------- ---------------------------------- ---------------------------------- ---------------------------------- --------------------------------------------
At 31 Mar 2021 68,175 9,846 59,877 61,402 – 199,300
================================== ================================== ================================== ================================== ================================== ============================================
Carrying amount
At 31 Mar 2021 817,591 267,905 173,071 355,954 119,584 1,734,105
================================== ================================== ================================== ================================== ================================== ============================================
At 31 Mar 2020 845,801 271,979 174,648 381,362 – 1,673,790
================================== ================================== ================================== ================================== ================================== ============================================

Included within the carrying value of fixtures and fittings are assets with a net book value of £10,533 (2020: £12,391) which are held under finance leases or hire purchase agreements.

There is a commitment in place to complete the installation of an LPG heating system, the remaining cost is £131,857.

- 28 -

The Henry Lonsdale Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

17. Investments

Investment Other
properties investments Total
£ £ £
Cost or valuation
At 1 April 2020 1,250,000 559,574 1,809,574
Additions – – –
Other movements – 18,547 18,547
-------------------------------------------- ---------------------------------- --------------------------------------------
At 31 March 2021 1,250,000 578,121 1,828,121
============================================ ================================== ============================================
Impairment
At 1 April 2020 and 31 March 2021 – –
================================== ============================================
Carrying amount
At 31 March 2021 1,250,000 578,121 1,828,121
============================================ ================================== ============================================
At 31 March 2020 1,250,000 559,574 1,809,574
============================================ ================================== ============================================

All investments shown above are held at valuation.

Investment properties

The trustees have considered the valuation of the land and buildings surrounding, but not occupied by, the Rosehill Residential Home, with advice from their land agents. The trustees have estimated the value of investment land and buildings to be in the region of £1,250,000. This valuation is based on an estimated price per acres for the agricultural land and expected yield basis for the property.

Financial assets held at fair value

All investments have been valued at fair value, for the COIF funds this has been provided by the fund at the year end date.

18. Debtors

2021 2020
£ £
Trade debtors 34,507 33,307
Prepayments and accrued income 36,950 68,069
----------------------------- ----------------------------------
71,457 101,376
============================= ==================================
Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors 35,288 51,182
Accruals and deferred income 323,127 291,922
Social security and other taxes 23,968 18,719
Obligations under finance leases and hire purchase contracts 1,853 4,607
Pension creditor 7,907 3,011
Other creditors 2,148 2,148
---------------------------------- ----------------------------------
394,291 371,589
================================== ==================================

19. Creditors: amounts falling due within one year

- 29 -

The Henry Lonsdale Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

19. Creditors: amounts falling due within one year (continued)

Included in accruals and deferred income is deferred income of £170,467 (2020: £158,615) which relates to the following period.

20. Creditors: amounts falling due after more than one year

2021 2020
£ £
Obligations under finance leases and hire purchase contracts – 1,905
=============== ========================
Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
2021 2020
£ £
Not later than 1 year 1,853 4,607
Later than 1 year and not later than 5 years – 1,905
------------------------ ------------------------
1,853 6,512
======================== ========================

21. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

22. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £37,877 (2020: £30,653).

23. Government grants

The amounts recognised in the financial statements for government grants are as follows:

2021 2020
£ £
Recognised in income from donations and legacies:
Government grants income 186,429 –
================================== ===============

- 30 -

The Henry Lonsdale Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

24. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At Gains and At
1 Apr 2020 Income Expenditure Transfers losses 31 Mar 2021
£ £ £ £ £ £
General funds 3,651,015 2,891,358 (2,837,354) – (1,173)
3,703,846
Designated Funds 80,955 – – – 19,720 100,675
-------------------------------------------- -------------------------------------------- -------------------------------------------- --------------- ----------------------------- --------------------------------------------
3,731,970 2,891,358 (2,837,354) – 18,547 3,804,521
============================================ ============================================ ============================================ =============== ============================= ============================================
At Gains and At
1 Apr 2019 Income Expenditure Transfers losses 31 Mar 2020
£ £ £ £ £ £
General funds 3,727,657 2,630,412 (2,685,673) 24 (21,405)
3,651,015
Designated Funds 80,978 – – (23) – 80,955
-------------------------------------------- -------------------------------------------- -------------------------------------------- --------------- ----------------------------- --------------------------------------------
3,808,635 2,630,412 (2,685,673) 1 (21,405)
3,731,970
============================================ ============================================ ============================================ =============== ============================= ============================================

The trust has designated funds to enable future, unforeseen, emergency repairs. These funds have been invested with CCLA. These funds are unrestricted and amounted to £100,675 (2020: £80,955) at the balance sheet date.

25. Analysis of net assets between funds

Unrestricted Total Funds
Funds 2021
£ £
Tangible fixed assets 1,734,105 1,734,105
Investments 1,828,121 1,828,121
Current assets 636,586 636,586
Creditors less than 1 year (394,291) (394,291)
Creditors greater than 1 year – –
-------------------------------------------- --------------------------------------------
Net assets 3,804,521 3,804,521
============================================ ============================================
Unrestricted Total Funds
Funds 2020
£ £
Tangible fixed assets 1,673,790 1,673,790
Investments 1,809,574 1,809,574
Current assets 622,100 622,100
Creditors less than 1 year (371,589) (371,589)
Creditors greater than 1 year (1,905) (1,905)
-------------------------------------------- --------------------------------------------
Net assets 3,731,970 3,731,970
============================================ ============================================

- 31 -

The Henry Lonsdale Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

26. Financial instruments

The carrying amount for each category of financial instrument is as follows:

2021 2020 £ £ Financial assets measured at fair value through income and expenditure Investments (Other than Investment Property) 578,121 559,574 ================================== ==================================

27. Analysis of changes in net debt

At
At 1 Apr 2020 Cash flows 31 Mar 2021
£ £ £
Cash at bank and in hand 520,724 44,405 565,129
Debt due within one year (4,607) 2,754 (1,853)
Debt due after one year (1,905) 1,905 –
---------------------------------- ----------------------------- ----------------------------------
514,212 49,064 563,276
================================== ============================= ==================================

28. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

2021 2020
£ £
Not later than 1 year 24,887 24,379
Later than 1 year and not later than 5 years 99,547 121,874
Later than 5 years 2,205 2,149
---------------------------------- ----------------------------------
126,639 148,402
================================== ==================================

The leasehold property at Barn Close is held under a 99 year lease (expiring 2090). A peppercorn rental is payable per annum if demanded by the lessor.

29. Related parties

There have been no related party transactions during the year.

- 32 -