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← The Henry Lonsdale Trust

2025-03-31-accounts

Charity registration number 1168707 (England and Wales)

THE HENRY LONSDALE TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

THE HENRY LONSDALE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr J Mallinson
Ms J Leith
Mrs J Riddle (Vice Chair)
Mrs A McKerrell
Mrs A Glendinning
Mr G Mitchel
Miss J Whalen
Charity number 1168707
Principal address Rosehill Residential Home
Rosehill
Aglionby
Carlisle
Cumbria
CA4 8AA
Auditor Saint & Co.
Sterling House
Wavell Drive
Rosehill
Carlisle
CA1 2SA
Bankers HSBC Plc
English Street
Carlisle
Cumbria
CA3 8JX
Solicitors Bell Park Kerridge

THE HENRY LONSDALE TRUST

CONTENTS

Page
Trustees' report 1 - 11
Independent auditor's report 12 - 15
Statement of financial activities 16
Statement of financial position 17
Statement of cash flows 18
Notes to the financial statements 19 - 32

THE HENRY LONSDALE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The Trustees' Annual Report covers the activities of the CIO over the period of 12 months to the 31 March in each year marking the financial year end. The CIO has since 1991 operated two residential homes for the elderly; Rosehill and Barn Close. However, Barn Close was formally closed on 23 March 2022 and formally de-registered with effect from 24 March 2022. As from that date, the CIO has operated a single home for the elderly, Rosehill.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

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

The Aims of the CIO

The principal aim of the CIO has been to provide high quality, professional residential care at a Home for elderly persons of limited means at Rosehill, Carlisle. When it became actively operational (on 31 October, 2018) the CIO became responsible for the ongoing management of the Home and the Care Quality Commission ("CQC") license transferred to the CIO.

Access to the CIO's Home has been 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 Home 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 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 the CIO's Home.

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

THE HENRY LONSDALE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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

The CIO's primary beneficiaries are the residents in its Home. 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 is 40 residential placements available at Rosehill. Anyone who, by reference to the registration requirements of the respective Home, was eligible to become a resident will be considered for residence.

The CIO also provides support to beneficiaries who are not resident in the Home 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 Home 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 the Home 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 privatelyfunded 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 1 March 2022, that the supplement top up fee payable by privately funded residents would be £150 per week with effect from 1 April 2022.

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.

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.

THE HENRY LONSDALE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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:

Strategies for achieving aims and objectives

The Strategies of the CIO

The CIO's strategies for achieving the above objectives 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 normally 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.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

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 do aim to continue to enhance the service on an ongoing basis.

Grant making policy

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. This was renewed to the 30 June 2022, and has now been renewed again in similar terms to the 30 June 2025.

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.

THE HENRY LONSDALE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

Significant activities and achievements against objectives

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 Home by CQC, and from less formal ongoing liaison with the CQC. The Registered Manager has maintained good links with the CQC and Cumbria County Council (the Social Services Authority) and enjoyed positive feedback in the process.

The Trustees have a system of monthly rota visits to the Home resulting in each of the Trustees undertaking two visits to the Home during the year. This arrangement was restored during the year after it had been suspended during the previous years because of COVID 19. The Chair and Vice Chair of the Trustees remained in close contact with the Registered Manager 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 Home have been 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 Manager would 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.

Residential Care

(a) Central to the activities of the CIO was the wish to continue provision of a high quality Home for elderly people to the East (Rosehill) of Carlisle.

High quality care is of increasing importance given the increasing frailty of residents coming into residential care. This remains the standard aim for the provision of care at Rosehill going forward.

(b) The CIO continues to embrace the standards for care homes laid down by the Health and Social Care Acts 2008 and 2012 to the benefit of its residents, and complies with a standard contract with Cumbria County Council, which regulates residential care services provided by the CIO.

(c) The fabric of the Home is maintained in keeping with the high standards of care provided for the residents by the CIO and its employees. The Trustees keep this under regular review and approve funding for refurbishment of the Homes as and when a potential and/or actual need is identified.

(d) Improved and innovative activity programmes and measures to provide enjoyment and stimulation for residents and their carers at the Home have always received a high priority.

(e) The CIO has continued its policy (unlike many other residential care homes) of not charging residents for basic toiletries.

(f) Residents at the Home have continued to present as being increasingly frail thus needing extra support from staff. Unsurprisingly, this has led to an increased call on the time and expertise of staff to ensure that the requisite standards were maintained and this has been carefully and appropriately managed.

THE HENRY LONSDALE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Staffing

(a) The CIO has a Registered Manager for the Care Home who acted in relation to day-to-day management issues affecting the CIO as a whole. They were answerable in relation to the budgets for the Home and had power to spend up to £5,000 on a single item or a combination of related items; albeit with spending monitored by the Chair.

(b) The maintenance of an effective administration system falls within the remit of the Senior Administrator under the supervision of the sole Registered Manager.

(c) The CIO considers training of staff to be an important priority. The CIO has previously set a target that all care staff (as opposed to the 50% referred to in the National Minimum Care Standards) should be trained to the Health and Social Care Diploma Level 2 (which replaced NVQ Level 2 in January 2011).

(d) Additionally, one Domestic Assistant has achieved the Level 1 qualification, and all Care Officers have achieved at least the former NVQ Level 3 award. The Trust requires all night staff to have or working towards at least a level 2 qualification in Health and Social Care, and in contrast to previously, neither Deputy Manager currently holds an NVQ level 4 although one of the deputy Managers is currently working towards her level 5 Residential Managers Award. All employed staff who do not have an NVQ2/Diploma level 2 are required to undertake the Care certificate, and are given the opportunity to gain an NVQ/Diploma in Health and Social Care. A policy of continuous staff improvement remains a high priority.

(e) More generally, ongoing mandatory and other training has been provided to staff in respect of, for example, first-aid, fire prevention and fire warden, challenging behaviour, dementia awareness, bereavement awareness, a CHESS (Care Home Effective Support Service) education programme, control of infection, nutrition and malnutrition, safeguarding vulnerable adults, safe handling and administration of medication, food hygiene, handling and lifting, end of life care, palliative care and equality and diversity. Additionally, the few staff who do not hold Health and Social Care Diploma complete the Care Certificate qualification. All in all, there is no member of the CIO's staff who has not participated in some form of training during the year. The practice of 'Train the Trainer' (whereby key staff attend external training and then roll out or 'cascade' what they have learned to other staff) has been particularly beneficial in that when staff who have been trained then provide training to other staff, money that would have been spent on an external training provider is saved and, importantly, the training is better suited to the staff as it is focused upon their working environment.

(f) The CIO has traditionally been considered to be a good employer, and its wage and salary structure has normally found it operating at above average for the industry. The Trustees paid staff a Christmas Bonus.

(g) The CIO has participated in the Care Apprentice Scheme to the mutual benefit of the CIO and the individuals concerned.

(h) The CIO had been looking to expand its in-house maintenance provision, the Trustees will be undertaking a comprehensive review of needs going forward. This is ongoing.

THE HENRY LONSDALE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Finance and Administration

(a) The CIO's expenditure is carefully monitored during the year.

(b) Financial contributions from residents towards their care have been maintained in line with the policies of Cumbria County Council, although (as described above) the weekly supplement charged to privately-funded residents in excess of the amount paid by Cumbria County Council for Social Services residents was reviewed and further amended effective from 1 April 2022. In this regard, consideration is given at all times to the charitable status of the CIO and its objects.

(c) The Trust's Financial Statements have continued to be professionally audited with nothing untoward being noted in respect of either income or expenditure. The Trust realised a surplus of £57,959 for the year ending 31 March 2025.

(d) The Trustees have continued to attend to various matters pursuant to SORP 2019: for example, Risk Assessment, Investment Policy and Policy on Reserves.

(e) The Trustees continue to review the investment strategy with guidance and information from their Investment Adviser. (See further details below).

(f) In October 2017, the Trustees undertook a financial review of Trust priorities as a result of the growing discrepancy between the real costs of providing residential care and the fees charged. This differential resulted from a number of external factors; not the least of which was the more restricted contributions which the local authority felt constrained to make in relation to its nominated residents. This resulted in policy changes to the fee structure and the payment of a supplement by private fee paying residents.

(g) The rate paid by local authorities for residents placed by them with third party residential care providers has become increasingly problematical, and increasingly divorced from the real cost of providing care.

(h) The CIO is a charity and is not required to make a profit. Its duty is to fulfil the aims of the Trust making decisions which are designed to best achieve the aims of the Trust and meet the needs of the beneficiaries. The provision of residential care for the elderly in need is only one of the permitted purposes under the Trust. Going forward, the Trustees will keep under close review the question of how best to achieve the aims of the Trust to the maximum the benefit to the beneficiaries.

(i) The Trustees keep under review the rates of pay payable to staff, and the terms and conditions employment, with the aim of being a good and fair employer within the sector.

Property & Premises

(a) The Trustees have continued their stewardship of the CIO's buildings and estate through an ongoing programme of refurbishment and building maintenance.

(b) The Trustees have continued to address a number of other property-related issues away from the main estate comprising, the Rosehill Home.

(c) The Trustees entered into an Option Agreement in 2015 with a local housing developer to sell part of the CIO's investment land and took advice from specialised Chartered Surveyors to ensure the Trust's interests were maximised. This progressed more slowly than expected with the planning process still incomplete by the expiry of that option, and the developer renewed the option.

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. The Trustees receive regular reports on progress and completion is now expected in the financial year 2024/2025.

Significant factors

THE HENRY LONSDALE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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.

The concern remains that as the aged population increases, and the likely number of those needing residential care in the future also significantly increases, the gap between what the County Council is willing and/or able to pay, and the actual cost of providing care is likely to grow wider. This will require the Trustees to keep under careful review whether maintaining a residential care home remains the best and/or most cost effective way of meeting the aims of the Trust.

Investment performance

Investments: Performance against Objectives by the Trustees

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. The need for good advice is even more acute given the forecast that recession is possible in 2025.

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.

Financial review

A detailed breakdown of the CIO's funds is contained in the Financial Statements with a narrative at notes 23-25.

Total funds of £4,633,290 were held at the year-end of which £1,271,621 can only be realised by disposing of tangible fixed assets. As Note 23 explains, within the unrestricted funds, the Trust had designated funds of £122,696 as at 31 March 2025. 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 £4,510,594.

Unallocated reserves are available for use by the CIO totalling £4,510,594.

THE HENRY LONSDALE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Reserves policy

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 £2,190,343 (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.

Principal funding sources

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.

Investment policy

Investment Powers

The Scheme authorises the Trustees to make and hold investments using the general funds of the CIO. At 31 March 2025, investments were held within 4 separate funds with 2 investment companies. Under the terms of the Statement of Recommended Practice, Accounting by Charities, the investments were revalued and as at 31 March 2025 stood at a total market value of £2,068,328. This comprised listed investments at nil and other investments at £2,068,328.

Major risks

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.

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.

THE HENRY LONSDALE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Plans for future periods

In looking to the future, it is necessary to put the future in the context of the recent past.

The history of the CIO shows that it acquired its second residential Care Home (Barn Close) in 1991 and that it increased the provision of residential care at its first Care Home (Rosehill). In the time that followed, the CIO continued a phase of consolidation and stability. Its fundamental aim was to pursue, on an ongoing basis, its principal activity of providing highquality residential care. In due course, the CIO added to its activities the making of a grant to Age UK Carlisle and Eden to provide a counselling and advice service to the elderly.

The CIO has reverted to operating a single residential care home, Rosehill. In addition to this activity, the CIO continues to fund the work of Age UK Carlisle and Eden with a commitment to making grants for a further three year period to 2025. At the time of this Report, the recent experience of the Rosehill home has been that recruitment and retention of staff has improved.

The CIO is a charity and is not governed by the same profit motive. That having been said, the Charity has a constant duty to act in a way which best meets the needs of the Trust and its beneficiaries. The aim of the CIO is to continue to operate the Rosehill home as it has done since the inception of the Trust. The provision of residential care for the needy elderly is however only one of the permitted activities of the Trust. If the disconnect between local authority funding and the real cost of provision continues to grow, the CIO will need to review whether it's purpose can be better and more cost effectively be met through any of the other permitted activities.

Structure, governance and management

The Governing Document and the Constitution of the CIO

The CIO is a charitable incorporated organisation and is governed by a constitution dated 10th 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 31st 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 2024 to the 31 March 2025, the fifth full year of operation of the CIO.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr J Mallinson Ms J Leith Mrs J Riddle (Vice Chair) Mrs A McKerrell Mrs A Glendinning Mr G Mitchel Miss J Whalen

THE HENRY LONSDALE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Recruitment and appointment of trustees

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 Home 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 the Home. Enhanced Disclosure and Barring Service checks are obtained in respect of each Trustee.

On 9 March 2022, Cumbria County Council re-appointed the four existing Nominated Trustees for a further term of three years on expiry of their current terms in 2022. These appointments were confirmed by the Trustees of the CIO at their meeting on 7 June 2022. At the same meeting, the Trustees re-appointed two existing Appointed Trustees for further terms of three years on expiry of their current terms in 2022. The net effect is that the six re-appointed Trustees will hold office until dates in 2025. Under the current constitution of the CIO, this will be their final terms of office.

Following the change in the unitary authority from April 2023, Cumberland Council (successor to Cumbria County Council) replaced three of the four nominated trustees which had been formally appointed in the 7 June 2022 trustee meeting, ending their terms of office sooner than the planned term to 2025.

The Trustees of the CIO are actively considering succession planning to provide for a measured and planned transition to the Trustees who will follow.

Organisational structure

Organisational and Decision-Making Structure

The CIO's residential home was 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.

Other matters

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.

Statement of trustees' responsibilities

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 HENRY LONSDALE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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

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

The trustees are responsible for keeping sufficient accounting records that 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 Charity (Accounts and Reports) Regulations 2008 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' report was approved by the Board of Trustees.

Mr J Mallinson Trustee

Mrs J Riddle (Vice Chair) Trustee

15 January 2026

THE HENRY LONSDALE TRUST

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE HENRY LONSDALE TRUST

Opinion

We have audited the financial statements of The Henry Lonsdale Trust (the ‘charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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.

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 contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

THE HENRY LONSDALE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE HENRY LONSDALE TRUST

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, 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 cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

THE HENRY LONSDALE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE HENRY LONSDALE TRUST

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 charity'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:

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 is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

THE HENRY LONSDALE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE HENRY LONSDALE TRUST

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Saint & Co.

Chartered Accountants & Statutory Auditor Sterling House Wavell Drive Rosehill Carlisle CA1 2SA 21 January 2026

Saint & Co. is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

THE HENRY LONSDALE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Unrestricted
funds
funds
general
Designated
2025
2025
Notes
£
£
Income and endowments from:
Donations and legacies
3
-
-
Charitable activities
4
2,127,115
-
Investments
5
51,436
-
Other income
6
58,459
-
Total income
2,237,010
-
Expenditure on:
Charitable activities
7
2,274,413
-
Other expenditure
13
385
-
Total expenditure
2,274,798
-
Net gains/(losses) on
investments
14
98,234
(2,487)
Net income/(expenditure) and
movement in funds
60,446
(2,487)
Reconciliation of funds:
Fund balances at 1 April 2024
4,450,148
125,183
Fund balances at 31 March 2025
4,510,594
122,696		 Total
Unrestricted
Unrestricted
funds
funds
general
Designated
2025
2024
2024
£
£
£
-
8,230
-
2,127,115
1,967,465
-
51,436
36,783
-
58,459
55,267
-
2,237,010
2,067,745
-
2,274,413
2,125,136
-
385
2,855
-
2,274,798
2,127,991
-
95,747
1,683,252
13,584
57,959
1,623,006
13,584
4,575,331
2,827,142
111,599
4,633,290
4,450,148
125,183		 Total
2024
£
8,230
1,967,465
36,783
55,267
2,067,745
2,125,136
2,855
2,127,991
1,696,836
1,636,590
2,938,741
4,575,331

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 19 to 32 form part of these financial statements.

THE HENRY LONSDALE TRUST

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
16
Investment property
17
Investments
18
Current assets
Debtors
19
Cash at bank and in hand
Creditors: amounts falling due within one year
20
Net current assets/(liabilities)
Total assets less current liabilities
Net assets excluding pension liability
The funds of the charity
Unrestricted funds - General
Unrestricted funds - Designated
23		 2025
£
74,041
369,780
443,821
(300,480)		 £
1,271,621
1,150,000
2,068,328
4,489,949
143,341
4,633,290
4,633,290
4,510,594
122,696
4,633,290		 2024
£
54,553
239,092
293,645
(422,166)		 £
1,344,288
2,950,000
409,564
4,703,852
(128,521)
4,575,331
4,575,331
4,450,148
125,183
4,575,331

The notes on pages 19 to 32 form part of these financial statements.

The financial statements were approved by the trustees on 15 January 2026

Mr J Mallinson Trustee

Mrs J Riddle (Vice Chair) Trustee

THE HENRY LONSDALE TRUST

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

2025
Notes
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
29
Investing activities
Purchase of tangible fixed assets
(12,354)
Proceeds from disposal of tangible fixed assets
565
Proceeds from disposal of investment property
1,973,939
Purchase of other investments
(2,000,000)
Proceeds from disposal of other investments
263,043
Investment income received
51,436
Net cash generated from investing activities
Net cash generated from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 £
(145,941)
276,629
-
130,688
239,092
369,780		 2024
£
(13,333)
-
-
-
25,000
36,783		 £
52,390
48,450
-
100,840
138,252
239,092

The notes on pages 19 to 32 form part of these financial statements.

FOR THE YEAR ENDED 31 MARCH 2025

THE HENRY LONSDALE TRUST

NOTES TO THE FINANCIAL STATEMENTS

1 Accounting policies

Charity 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.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

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.

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.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE HENRY LONSDALE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

The following specific policies are applied to particular categories of income:

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings Over 50 years Fixtures and fittings 15% reducing balance Equipment (Energy Generating) Over 20 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

THE HENRY LONSDALE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.9 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

THE HENRY LONSDALE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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:

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts - 8,230

In 2024, Donations and gifts related to fundraiser collection for purchase of a minibus.

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Charitable activities
Private paying residential income 817,256 877,600
Social Services residential income 1,309,859 1,089,865
2,127,115 1,967,465

THE HENRY LONSDALE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Rental income 18,754 19,129
Other income 32,682 17,654
51,436 36,783

6 Other income

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Energy Generation Income 58,459 55,267

THE HENRY LONSDALE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

7 Expenditure on charitable activities

Direct costs
Staff costs
Depreciation and impairment
Food & Medical supplies
Other employee benefits
Home running costs
Home maintenance costs
Registration Fees
Staff training
Grant funding of activities (see note 8)
Share of support and governance costs (see note 9)
Support
Governance
Analysis by fund
Unrestricted funds - general		 Total
2025
£
1,550,288
84,070
108,747
1,330
203,724
106,257
5,779
2,305
2,062,500
30,158
129,413
52,342
2,274,413
2,274,413		 Total
2024
£
1,453,186
85,414
96,507
1,200
197,674
70,359
5,779
5,730
1,915,849
30,158
147,402
31,727
2,125,136
2,125,136

8 Grants payable

2025 2024
£ £
Grants to institutions:
Age UK Carlisle and Eden 30,158 30,158

THE HENRY LONSDALE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

9 Support costs allocated to activities

Total
2025
£
Staff costs
110,345
Accountancy
8,150
Other office costs
4,476
Bank charges
1,057
Insurance
2,383
Sundry expenses
2,831
Travel expenses
170
Governance
52,343
181,755
2025
Governance costs comprise:
£
Staff costs
4,884
Audit fees
6,650
Accountancy
11,448
Legal and professional
29,361
52,343
10
Net movement in funds
2025
£
Net movement in funds is stated after charging/(crediting)
Fees payable to the charity's auditor for the audit of the charity's financial statements
6,650
Depreciation of owned tangible fixed assets
84,070
Loss on disposal of tangible fixed assets
385
Profit on disposal of investment property
(173,939)
Operating lease charges
24,904		 Total
2024
£
130,243
6,552
4,070
916
3,001
2,427
193
31,727
179,129
2024
£
5,224
6,300
6,913
13,290
31,727
2024
£
6,300
85,414
2,855
-
25,398

11 Trustees

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.

THE HENRY LONSDALE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

12 Employees

The average monthly number of employees during the year was:

Care, Domestic & Admin staff
Management Staff
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 2025
Number
78
1
79
2025
£
1,531,115
105,453
28,949
1,665,517
2025
£
65,828		 2024
Number
74
2
76
2024
£
1,459,390
100,383
28,880
1,588,653
2024
£
58,067

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity.

13 Other expenditure

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Net loss on disposal of tangible fixed assets 385 2,855

THE HENRY LONSDALE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

14 Gains and losses on investments

Unrestricted
Unrestricted
funds
funds
general
Designated
2025
2025
Gains/(losses) arising on:
£
£
Revaluation of investments
(54,366)
(2,487)
Sale of investments
(21,339)
-
Revaluation of investment
properties
-
-
Sale of investment
properties
173,939
-
98,234
(2,487)		 Total
Unrestricted
Unrestricted
funds
funds
general
Designated
2025
2024
2024
£
£
£
(56,853)
(16,622)
13,584
(21,339)
(126)
-
-
1,700,000
-
173,939
-
-
95,747
1,683,252
13,584		 Total
2024
£
(3,038)
(126)
1,700,000
-
1,696,836

15 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

16 Tangible fixed assets

Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 April 2024
885,766
211,225
Additions
-
12,354
Disposals
-
(1,660)
At 31 March 2025
885,766
221,919
Depreciation and impairment
At 1 April 2024
152,807
96,595
Depreciation charged in the year
28,210
17,994
Eliminated in respect of disposals
-
(710)
At 31 March 2025
181,017
113,879
Carrying amount
At 31 March 2025
704,749
108,040
At 31 March 2024
732,960
114,630		 Equipment
(Energy
Generating)
£
666,505
-
-
666,505
169,807
37,866
-
207,673
458,832
496,698		 Total
£
1,763,496
12,354
(1,660)
1,774,190
419,209
84,070
(710)
502,569
1,271,621
1,344,288

THE HENRY LONSDALE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

17 Investment property

£
Fair value
At 1 April 2024 2,950,000
Disposals (1,800,000)
At 31 March 2025 1,150,000

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 fair value of investment land and buildings at year end is estimated to be in the region of £1,150,000. This valuation is based on an estimated price per acre for Agricultural land and an expected yield basis for the rented property.

2025 2024
£ £
Freehold 1,150,000 2,950,000

18 Fixed asset investments

Listed
investments
£
Valuation
At 1 April 2024 409,564
Additions 2,000,000
Valuation changes (56,854)
Disposals (284,382)
At 31 March 2025 2,068,328
Carrying amount
At 31 March 2025 2,068,328
At 31 March 2024 409,564

All investments shown above are held at valuation.

Fixed asset investments revalued

All investments have been valued at fair value being their market value at the Balance Sheet date.

The historic cost of the investments is £2,005,153 (2024: £346,832)

THE HENRY LONSDALE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

19 Debtors

Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income		 2025
£
29,280
44,761
74,041		 2024
£
9,394
45,159
54,553

20 Creditors: amounts falling due within one year

Notes
Other taxation and social security
Deferred income
21
Trade creditors
Other creditors
Accruals		 2025
£
18,481
58,859
70,112
2,081
150,947
300,480		 2024
£
20,566
213,611
30,524
7,778
149,687
422,166

21 Deferred income

Deferred income
2025 2024
£ £
Other deferred income 58,859 213,611

Deferred income includes fee and rental income relating to the following year but received in advance (2024: Deferred income also included a land option fee for the sale of a parcel of land which completed in 2024/25).

2025
£
Deferred income is included within:
Current liabilities
58,859
Movements in the year:
Deferred income at 1 April 2024
213,611
Released from previous periods
(213,611)
Resources deferred in the year
58,859
Deferred income at 31 March 2025
58,859		 2024
£
213,611
189,366
(59,366
83,611
213,611

THE HENRY LONSDALE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

22 Retirement benefit schemes

Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 28,949 28,880

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

23 Unrestricted funds - Designated

These are unrestricted funds which are material to the charity's activities.

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 £122,696 (2024: £125,183) at the balance sheet date.

At 1
Previous year:
At 1
Designated Funds		 April 2024Gains
£
125,183
April 2023Gains
£
111,599		 and losses
At 31 March
2025
£
£
(2,487)
122,696
and losses
At 31 March
2024
£
£
13,584
125,183

24 Unrestricted funds - General

At 1
General funds
Previous year:
At 1
General funds		 April 2024
£
4,450,148
April 2023
£
2,827,142		 Incoming
resources
Resources
expended
Gains
£
£
2,237,010
(2,274,798)
Incoming
resources
Resources
expended
Gains
£
£
2,067,745
(2,127,991)		 and losses
At 31 March
2025
£
£
98,234
4,510,594
and losses
At 31 March
2024
£
£
1,683,252
4,450,148

THE HENRY LONSDALE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

25 Analysis of net assets between funds

Unrestricted
funds
Designated
funds
2025
2025
£
£
Fund balances at 31
March 2025 are
represented by:
Tangible assets
1,271,621
-
Investment properties
1,150,000
-
Investments
2,068,328
-
Current assets/(liabilities)
143,341
-
4,633,290
-		 Total
Unrestricted
funds
Designated
funds
2025
2024
2024
£
£
£
1,271,621
1,344,288
-
1,150,000
2,950,000
-
2,068,328
409,564
-
143,341
(128,521)
-
4,633,290
4,575,331
-		 Total
2024
£
1,344,288
2,950,000
409,564
(128,521)
4,575,331

26 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under noncancellable operating leases, which fall due as follows:

Within one year
Between two and five years
In over five years		 2025
£
25,559
93,522
1,735
120,816		 2024
£
24,776
92,214
22,531
139,521

27 Other financial committments

The trust has entered into a 3 year agreement with Age UK Carlisle and Eden for them to provide information and advice to residents in Carlisle. This runs until June 2028. Expected expenditure due within 1 year is £32,501, and due within 2-5 years is £79,354.

THE HENRY LONSDALE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

28 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

29 Cash (absorbed by)/generated from operations

Cash (absorbed by)/generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Loss on disposal of tangible fixed assets
Gain on disposal of investment property
Loss on disposal of investments
Fair value gains and losses on investment properties
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase) in debtors
Increase in creditors
(Decrease)/increase in deferred income
Cash (absorbed by)/generated from operations		 2025
2024
£
£
57,959
1,636,590
(51,436)
(36,783)
385
2,855
(173,939)
-
21,339
126
-
(1,700,000)
56,853
3,038
84,070
85,414
(19,488)
(11,187)
33,068
48,092
(154,752)
24,245
(145,941)
52,390

30 Analysis of changes in net funds

The charity had no material debt during the year.