istrict Fo visit.give.pro ANNUAL REPORT -2021 EL-C . ANNUAL. ## **OUR VISION AND MISSION** ## OUR VISION The Lake District will be an example of sustainable development in action. A place where its prosperous economy, world class visitor experiences and vibrant communities come together to sustain the spectacular landscape, its wildlife and cultural heritage. ## OUR MISSION Our mission is to enable everyone to care for, and be inspired by, the evolving masterpiece of the Lake District National Park. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 3 ## **GILL HOUSTON** ## CHAIR This fi nancial year both started and ended with covid prevention measures in place. This included England being locked down with citizens advised to ‘Stay Home’ or ‘Stay Local’. Consequently, visitors stayed away from Cumbria and the Lake District and businesses were closed which had an impact on the local economy and, as a result, an impact on LDF’s ability to raise funds; donations fell by nearly 19% this year. A huge thanks to all those individuals and businesses who were nonetheless able to support us this year. I am extremely proud of how our staff have adapted and made sacrifi ces during the last year. Consequently, LDF is ‘still in business’ due to cost cutting, new approaches to operations and thanks to the UK Government business support schemes. Indeed, despite the diffi culties our small staff team, working from home, were able to deliver some signifi cant projects allocating over £165k in grants to our benefi ciaries. LDF has provided grants to businesses and individuals through our Real Hedge Fund and supported organisations conserving red squirrels and fell paths. LDF was selected to deliver a grant scheme which is part of the Low Carbon Lake District project which will, over the next 2 years, provide £600,000 to businesses and community groups in the Lake District in support of projects that reduce carbon emissions. Our Trustees have been incredibly supportive throughout this year. Zoom has enabled us to expand our dedicated team with Trustees who do not live or work in Cumbria but who still have a strong connection to this beautiful but fragile environment. LDF has become a leaner organisation through necessity over the last year, but we can build on this through the coming year to eff ectively and effi ciently deliver our vision for the Lake District’s landscape, wildlife and cultural heritage. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 4 ## **SARAH SWINDLEY** ## CEO Every annual report this year will have a similar thread. Of loss and uncertainty, of fear and change. But also of resilience, of hope, of community and of courage. Alongside this is a renewed appreciation of nature, a slowing down and noticing, of coming together to value the small things that underpin our lives. Thanks are due to the staff and Trustees for their continued resilience and commitment to the work we do and the opportunities the Lake District Foundation has to inspire. Our small team has moved to a fully home-based way of working for the foreseeable future. Whilst this provides opportunities for fl exibility and innovation, like many we still value coming together to develop ideas and will continue to fi nd creative ways to do this. We have an exciting future ahead of us. We are awaiting the outcome of our signifi cant proposal to the National Lottery Heritage Fund which saw much of the year spent working with organisations within the Lake District National Park Partnership to explore how we fi nd the points of balance outlined in our vision. This work of coming together has already driven diff erent forms of collaboration and opportunity detailed below. We know that nature in our National Parks continues to be under extreme pressure, farming and land management face changes and challenges not seen in a generation, and much of our economy, particularly tourism and hospitality, face an uphill climb to recover from the pandemic. We are seeing the local impacts of our climate emergency and we know that this needs to be part of our focus in the future. Our communities within the National Park and the county of Cumbria have lost loved ones and livelihoods. Young people have lost opportunities, and many have left the county. Against this backdrop, the Lake District continues to be a place to inspire the nation. Our much-loved National Park will be a key part of our recovery and we will play our part in making this happen. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 5 YEAR AT A GLANCE INCOME U17, 921 EXPENDITURE £358,213 STAFF FULL TIME EQUIVALENT COLLABORATED ON six 42 FOUR MAX)R PART14ERSAIP PROJ FANTASTIC BUSINESSE FIX M FÉLLS. SA￿ (JMI FWJS. KEsW￿K TO TIII&KELD PATH RESTORATKIY CXIREST HEAD PATH KC£SS INTED UTILITIES ENVIK*4MENf •GEIKY TrE KSIEL)IBLE CH￿NG£STo0JR LAUNCH OF OUR REAL HEDGE FUND PROJECT WITH OVER £17.500 FILM ￿K>sT￿) BY CAJR AM8ASS4fK)R SEAN CONWAY ND CREATED AS PART OF (OUR FIRSTI.) DIGITAL FUNDPA19￿ FOR AX THE FELLS RAISED THROUGH ¢XIR CHRISTMAS CROWDFUNDER WITH THE BIG GIVE. OVER £120,000 RAISING NEARLY £IS0O LAKE tXSTRICT NAncfft4AL PARK **----- Start of picture text -----**
John Hodgson
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## **OUR IMPACT** The unique environment of the Lake District is a vital space for both nature and people. Inscribed as a UNESCO World Heritage Site in 2017 as a cultural landscape, it has experienced exponential growth to 19 million annual visitors. Yet our natural and cultural heritage continues to face extreme challenges, including loss of biodiversity, the impact of long-term climate change, economic pressures on the system of traditional farming practices, and the pressures, consequences, and inequity of tourism. These challenges have been highlighted by UNESCO and are reflected in the 2019 National Parks Landscape Review. The pandemic has caused significant and ongoing disruption across the sectors in which we operate, but recovery is expected over the medium term and - importantly - we have seen renewed interest and commitment in the value and role of this landscape and the natural world. Yet we know that the operating environment presents challenges for both charities and the public sector and our economy. Against this backdrop, we have three key areas of strategic focus which help to direct our organisational strategy and activities. **FUND; COLLABORATE; INSPIRE.** LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 7 ## **FUND:** Our Small Grants Fund is made possible thanks to donations from businesses in the tourism economy across the Lake District National Park and Cumbria, enabled through programmes of visitor giving. Local community groups can apply for grants of up to £2500 for creative and sustainable projects which support our aims of sustaining the spectacular landscape, wildlife and cultural heritage of the Lake District. This year, due to the pandemic we made the decision to pause our small grants programme and worked towards the launch of three community grant schemes in early April 2021. This included preparations to launch the Low Carbon Lake District grant scheme in April 2021, a project which will, over the next 2 years, provide grants totalling £600,000 to businesses and community groups in the Lake District and Cumbria to support initiatives which will reduce their operational carbon footprint and achieve carbon savings of 86 tonnes per year, as part of the Low Carbon Lake District initiative. The Low Carbon Lake District initiative is a comprehensive programme to help tackle climate change in the National Park, working in partnership with local businesses and communities to reduce greenhouse gases and prepare for the impacts of climate change. Led by the Lake District National Park Authority, other key partners include ourselves, the National Trust, South Lakeland District Council and Cumbria Tourism. Low Carbon Lake District is receiving funding from the England European Structural and Investment Funds Growth Programme 2014- 2020. The Ministry of Housing, Communities and Local Government and the Department for Work and Pensions (and in London the intermediate body Greater London Authority) are the Managing Authorities for European Regional Development Fund and European Social Fund funding through the Growth Programme, funds established by the European Union to help local areas stimulate their economic development. By investing in projects the funds will help to support innovation, businesses, skills and employment to improve local growth and create jobs. For more information visit: www.gov.uk/europeangrowth-funding The Northern Powerhouse is a key aspect of this Government’s approach to addressing the productivity gap in the North and ensuring a stronger, more sustainable economy for all parts of the UK. Alongside over €1.5 billion of European Regional Development Fund support for businesses and communities across the North, the government has awarded £3.4 billion in three rounds of Growth Deals across the Northern Powerhouse. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 8 ## **COLLABORATE:** **Over the last year LDF continued to work together with a wide range of partners, ensuring that we can deliver the most eff ective work and make a diff erence across the landscape of Cumbria and the National Park. Projects included:** ## **CLEANER LAKES** ## **KESWICK TO THREKELD RAILWAY TRAIL** This year saw the reopening of the muchloved Keswick to Threlkeld Railway trail. The trail, which suff ered extensive damage during storms in 2015, has now been fully reconnected and enhanced, and LDF were pleased to have led community fundraising activity for the trail – raising over £101,000 to support the restoration project. We launched our new educational campaign, Cleaner Lakes, which aims to remind visitors and residents of the importance of the precious natural resources that we have across the Lake District, and the practical action that we can all take to ensure our lakes and rivers stay clean and safe for everyone to enjoy. Through this campaign, we will also be working to raise funds for a future small grants scheme supporting projects which contribute to protecting and improving water quality across the Lake District. ## **REAL HEDGE FUND** Together with partners The Federation for Common Land, Ullswater Catchment Management Community Interest Company, The Food, Farming and Countryside Commission, Cumbria Rivers Trust and the Lake District National Park Authority. LDF launched the ‘Real Hedge Fund’ project. This new project aims to highlight the importance of hedgerows for our environment - and the cultural and natural heritage of the Lake District - and will work together with community partners to protect and restore up to 4,000 metres of native hedgerows across Cumbria. We were delighted to have raised over £17,600 to kick start the project through the Big Give Christmas Challenge. **----- Start of picture text -----**
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## **FIX THE FELLS** We continue to play a key role in this partnership project, working with the National Trust, Friends of the Lake District, Natural England and the Lake District National Park Authority to tackle the impact of footfall and weather on our fragile upland habitats. LDF contributes to the partnership work, leading on fundraising, and raising over £27,000 to support the project in 20/21. There remains an ongoing need for the work, which is supported by an amazing army of over 110 volunteers who work with the rangers to look after the fells. Volunteers completed drain clearance runs and work parties in 2020, with over 1700 volunteering days out on the fells over the course of the year. ## **SAVE OUR REDS** > Charles Thody Working with a network of micro volunteer led groups working independently across Cumbria to protect and conserve the native Red Squirrel population, we collaborated on the development of a small project to provide training, access shared resources (such as specialist skills and equipment) and develop campaigning and fundraising material. This resulted in the ongoing fundraising campaign, including support from Forest Holidays, raising more than £12,500 in 20/21. ## **ORREST HEAD** Work is now nearing completion on a project to improve access on this special route, which is an introduction to both hill walking and the Lakeland landscape. Creating improved access to the summit through creation of an alternative, easy-gradient path to the viewpoint. The route will now be suitable for people with pushchairs and rugged mobility scooters, enabling more people to be able to enjoy and appreciate the view from Orrest Head. LDF helped to raise nearly £6,000 towards the project. ## **INNOVATION IN GIVING** Building on the work of our Nesta funded project to explore the use of contactless giving, we tested the use of QR codes to support contactless donations in car parks and businesses. ## **LDNPA - LOOKING AFTER THE LAKE DISTRICT NATIONAL PARK** Working together with the National Park Authority we launched our sponsorship programme ‘Love the Lakes’ in 2019. The scheme has continued to grow over the last year, raising over £20,000 for the National Park through the sponsorship of items such as ranger, apprentices, gates and way markers, as well as donations made at Car Parks across the park and through visitors making online donations when booking activities. ## **INSPIRE:** ## NATIONAL LOTTERY HERITAGE FUND HERITAGE HORIZONS LDF are leading a partnership of organisations, including the 25 members of the Lake District National Park Partnership, with a vision to see systemic change in the management of the natural heritage of the Lake District National Park. In early 2020 we were delighted to be chosen as one of just twelve projects nationally to be placed in the running for National Lottery Heritage Horizon Awards and following a rigorous selection process were invited forward to compete for a share of £50m. If successful we will be working across several compelling themes, including the climate emergency, exploring how we recognise and protect our cultural and natural heritage, future proofing our farming and creating a ‘park for all’. Following extensive work throughout the year, we submitted our application for development funding in January 2021. We were notified in June 2021 that our Heritage Horizons proposal was unsuccessful. We are currently working with partners and funders to explore different avenues to bring this work to life ## EXPLORING THE IMPACT OF COVID After the easing of restrictions following the first lockdown, we ran a short survey to assess the impact of the pandemic and subsequent restrictions on people’s access to nature and natural spaces. This research – receiving nearly 230 responses - generated some useful insights which will help to inform our work and future activities. The research highlighted the benefits that can be gained from access to natural spaces, with 75% of people reporting improvements to their mental health, and 62% reporting improvements to their physical health. This year has also helped to inspire more people to want to get involved in caring for our natural world, with 35% of people planning to do more to help conserve the natural world. Other key themes emerging from this research included: Exploring how more people can benefit from natural assets such as the National Park Understanding how we can help people to behave responsibly and safely when visiting the park How best to balance tourism with the needs of the local environment and local residents. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 11 ## **OUR AMBASSADORS** We extend our thanks to our team of Ambassadors, who help to champion and support the work of the foundation in the local community and beyond: **----- Start of picture text -----**
SEAN CONWAY
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Sean Conway is an endurance adventurer, author, and motivational speaker, who became the first person to cycle, swim, and run the length of Great Britain, from Land’s End to John O’Groats. In 2016 he completed the world’s longest triathlon, a 4,200-mile journey around the coast of Britain. “I was born in Zimbabwe and grew up living in various National Parks as my father was a conservationist game ranger. I was surrounded by natural beauty every day and had elephants, giraffes, zebra and hippos in my back garden. My unique childhood has fueled my adventurous ambitions and the urge to raise awareness of the importance of looking after these beautiful places. I now live in the UK and proud to have called the Lake District my home. I’m thrilled to be an Ambassador for the Foundation and help protect and care for this National Park”. ADVENTURE AMBASSADOR **DR KATE RAWLES** ADVENTURE & ECOLOGY AMBASSADOR Kate is passionate about using adventurous journeys to raise awareness and inspire action on our major environmental challenges. She has recently returned from The Life Cycle: Colombia to Cape Horn by bamboo bike, exploring biodiversity loss. A former lecturer in environmental philosophy, Kate set up Outdoor Philosophy to explore big questions about human/ nature relations in nature rather than lecture theatres. “I’m an ambassador for the Lake District Foundation because I’m passionate about finding positive ways to tackle our multiple environmental challenges, while enhancing human quality of life. Much of my work is focused on the global – especially on biodiversity loss and climate change – and so it is brilliant to be part of an organisation that brings depth of understanding of the big picture, in order to work effectively at the local level. Since I am lucky enough to live in the Lake District, I want to do whatever I can to support the wildlife, ecosystems, landscapes and communities in this fabulous part of the world.” **----- Start of picture text -----**
LEE PATON
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Lee Paton is a bespoke couturier who has his own fashion house in London and is currently creating the first Couture fashion house in Cumbria. Lee is passionate about championing environmental sustainability in the fashion industry and through his new role as Ambassador at the Lake District Foundation. “The national park has been a place of creative motivation to historic artists of many forms and remains a region of immense inspiration through its remarkable beauty. The important work of the Lake District Foundation helps secure the future of a natural beauty that will continue to inspire generations for years to come and I am humbled to be able to play my part as a new addition to such a noble cause”. BUSINESS AMBASSADOR LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 12 ## **PARTNERS AND FUNDERS** With are grateful for the continued support of our funders and supporters over the last year, in particular: CORE FUNDERS THE FOLLOWING CHARITABLE TRUSTS AND FOUNDATIONS: Linley Shaw Charitable Foundation • Catherine Cookson Charitable Trust Patterson Charitable Trust • Robert Clutterbuck Charitable Trust • Alice Noakes Charitable Trust • Open • • Gate Charitable Trust The Tern Trust Hedge & Woodland Conservationists (HAWC) LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 13 ## **OUR TOP TWENTY FUNDRAISERS** We are grateful to the businesses who continued to fundraise for Lake District Foundation over the last year. OUR TOP TWENTY FUNDRAISERS IN THIS PERIOD INCLUDE: LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 14 ANNUAL ACCOUNTS YEAR ENDED 31 MARCH 2021 ## **CONTENTS** REFERENCE AND ADMINISTRATIVE DETAILS ............................. 17 TRUSTEES’ REPORT ...........................................................................18 TRUSTEES’ RESPONSIBILITIES ....................................................... 22 INDEPENDENT EXAMINER’S REPORT .......................................... 24 STATEMENT OF FINANCIAL ACTIVITIES ..................................... 25 BALANCE SHEET .................................................................................26 NOTES TO THE FINANCIAL STATEMENTS ...................................27 LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 16 ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## CHARITY NAME Lake District Foundation ## REGISTERED OFFICE Lake District Foundation, Murley Moss Business Park, Oxenholme, Road, KENDAL LA9 7RL ## CHARITY REGISTRATION NUMBER 1174201 ## PRINCIPAL OFFICE ## ACCOUNTANT Dodd & Co Limited, FIFTEEN, Rosehill, Montgomery Way, Rosehill, Estate, CARLISLE CA1 2RW Lake District Foundation, Murley Moss Business Park, Oxenholme Road, KENDAL LA9 7RL ## **TRUSTEES** **GILL HOUSTON** **PETER HENSMAN** **MIKE INNERDALE** **ANDY AIREY** **KEITH ASHCROFT** **GILL HAIGH** **MATT HARNETT** **JOHNATHAN KAYE** Resigned 31[st] July 2020 **DR RICHARD LEAFE** **JO HAMER** Resigned 20[th] July 2020 **DR ELSPETH LEES** **GAYNOR MURPHY** **ALICE FORRESTER** Appointed 27 January 2021 LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 17 ## **TRUSTEES’ REPORT** ## YEAR ENDED 31 MARCH 2021 The Trustees are pleased to present their report and accounts for the year ended March 2021. The financial statements have been prepared in accordance with the accounting policies set out in the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities : Statement of Recommended Practice applicable in the UK and Republic of Ireland ## OUR CHARITABLE OBJECTS Our objects, as set out in our governing document are: To promote the conservation, protection and improvement of the physical and natural environment and cultural heritage of the Lake District by providing funding and support for conservation, environmental and cultural initiatives in the Lake District and Cumbria; and inspiring people to care for and contribute to the natural environment and cultural heritage of the Lake District and Cumbria. The Trustees confirm that they have referred to Charity Commission guidance with regards to public benefit when reviewing LDF’s aims and objectives and in planning future activities. ## OUR VISION, MISSION AND AIMS Our vision, mission and aims help ensure our work delivers our objects: ## **VISION** The Lake District will be an example of sustainable development in action. A place where its prosperous economy, world class visitor experiences and vibrant communities come together to sustain the spectacular landscape, its wildlife and cultural heritage. ## **MISSION** Our mission is to enable everyone to care for, and be inspired by, the evolving masterpiece of the Lake District National Park. ## **AIMS** - We will inspire businesses, visitors and others to develop and support projects and programmes of work across the Lake District that benefit place and people. - We will support the delivery of the shared aims of the Lake District National Park Partnership - We will encourage partners to work collaboratively to achieve shared goals and to ensure a coordinated approach to fundraising and income generation. - We will mobilise people and resources to enable transformative change across the Lake District by: - a. Enabling communities to take the lead - b. Learning and innovating LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 18 ## **TRUSTEES’ REPORT** ## YEAR ENDED 31 MARCH 2021 ## STRUCTURE, GOVERNANCE AND MANAGEMENT The Lake District Foundation is a Charitable Incorporated Organisation (CIO) and its governing document is its Constitution. The trustees of the organisation are the only members and are listed above. The board of trustees meet quarterly. To facilitate their responsibilities, a rolling agenda has been agreed that includes risk management, declarations of conflicts of interest and data protection/GDPR. A Finance sub-group of the Board of Trustees has been established to consider financial matters in more detail, making recommendations to the full board. The Chief Executive provides a quarterly report on activity to the trustees, in line with an agreed business and development plan. ## TRUSTEE RECRUITMENT, INDUCTION AND TRAINING Trustees are recruited by the Board in accordance with the skills requisite of the role. There is a minimum of 3 and a maximum of 15 trustees. The term of office of each trustee shall be no longer than 3 years. A trustee may be reappointed to the Board for three further terms of 3 years, after an interval of one year. An annual skills audit of trustees is undertaken. Nominations for new trustees are invited following this process to ensure a good mix of skills on the board. As part of the induction and training programme, new board members are required to: - Meet the description outlined in the role of trustees ## Register any conflicts of interest The trustees of the charity pay due regard to the public benefit requirements of the Charity Commission and consider that these are met. ## RISK MANAGEMENT The trustees and senior management team identify and agree the major risks facing the charity at the start of each financial year and which are logged on a risk register, alongside an assessment of likelihood and potential impact, and appropriate mitigating actions and procedures. This risk log is reviewed at each board meeting, and agreed actions recorded. In April 2020 we conducted a detailed review of our operational risks to assess the impact of the pandemic on our activities. The board is committed to a culture of continuous improvement in governance, with policy review as a rolling agenda item. ## REMUNERATION POLICY FOR KEY MANAGEMENT PERSONNEL The pay of the Chief Executive Officer is set by the Trustees and is reviewed on an annual basis. The pay scales for the charity are benchmarked against the NJC (National Joint Council) pay scales. In line with the Lake District Foundation values statement, the charity strives to be transparent, sustainable, collaborative and innovative in all activity. - Comply with the process for the election of directors and adhere to our Code of Conduct LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 19 ## **TRUSTEES’ REPORT** ## YEAR ENDED 31 MARCH 2021 ## FINANCIAL REVIEW In common with many organisations, the pandemic has had signifi cant impact on the charity, particularly in relation to its direct fundraising from businesses and corporate supporters. Many of our partner organisations work within the hospitality industry, which has been closed for much of this year. A revised budget was created at the beginning of the pandemic to limit the expected impact and explore where overhead expenditure could be reduced in year, in part achieved by a shift to home working thus removing the need of offi ce space and the costs associated with this. This model will be retained in the future as it has been shown to be eff ective for our organisation. Restricted Funds have reduced by £94,984. (2020 £112,221; 2021 £17,237) Grants to benefi ciaries are made from these funds. This shows that despite the pandemic the charity has continued to deliver the projects it had committed to. Grants were made and paid out in the year to 15 diff erent projects, totalling £165,321. The impact of lockdown has resulted in a total reduction of Donation & Grant income in by nearly 19% from the previous year (2020 £393,953; 2021 £319,834). The restricted fund income has shown the largest portion of the reduction of -£106,212. This decrease will be a direct result of the pandemic and government lockdowns drastically restricting visitor numbers in the Lake District. While unrestricted funds show an increase compared to the previous year, this has been mainly achieved by receiving the UK Government Grants totalling £51,534. Without this vital support, the unrestricted funds would have also been showing a large reduction in the fi gures compared to pre pandemic years. With the lifting of restrictions on travel and the return of visitors to the Lake District, we hope to see a return to the pre-pandemic levels of visitor giving. ## RESERVES POLICY The Board has decided to increase the level of reserves held from three to six months of monthly operating costs. With the increased level of uncertainty due to the pandemic, it is important for LDF to be fi nancially prudent at a time when so much uncertainty continues to exist, particularly in the Lake District which is heavily reliant on the visitor and tourism economy. This also supports our cash fl ow position as we are moving to delivery of a large grants programme that is paid in arrears. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 20 **TRUSTEES’ REPORT** YEAR ENDED 31 MARCH 2021 ## **APPROVED BY THE TRUSTEES AND SIGNED ON THEIR BEHALF BY:** G M Houston Trustee ## **DATE:** Tuesday 21[st] September 2021 LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 21 **----- Start of picture text -----**
Andrew Locking
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## **TRUSTEES’ RESPONSIBILITIES** ## IN RELATION TO THE FINANCIAL STATEMENTS The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. 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 period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper 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 and the provisions of the trust deed. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 22 ## **INDEPENDENT EXAMINER’S REPORT** ## TO THE TRUSTEES OF THE LAKE DISTRICT FOUNDATION I report on the accounts of the charity for the year ended 31 March 2021, which are set out on pages 5 to 19. Your attention is to drawn to the fact that the Charity has prepared the financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn. We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019. ## state whether particular matters have come to my attention. **BASIS OF INDEPENDENT EXAMINER'S REPORT** My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below. ## **INDEPENDENT EXAMINER'S STATEMENT** ## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER** The Charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. ## It is my responsibility to: - examine the accounts under section 145 of the 2011 Act; - follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and In connection with my examination, no matter has come to my attention: - which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 130 of the Charities Act 2011; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 2011 Act have not been met; or - to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 23 ## **INDEPENDENT EXAMINER’S REPORT** TO THE TRUSTEES OF THE LAKE DISTRICT FOUNDATION ## Joanne Thomlinson FCA Dodd & Co Limited Chartered Accountants FIFTEEN, Rosehill, Montgomery Way, Rosehill Estate, CARLISLE CA1 2RW ## **DATE:** Tuesday 21[st] September 2021 LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 24 ## **STATEMENT OF FINANCIAL ACTIVITIES** ## FOR THE YEAR ENDED 31 MARCH 2021 **----- Start of picture text -----**
£319,834
DONATIONS AND LEGACIES
£5,423
TOTAL INCOME 2021
CHARITABLE ACTIVITIES
£474
£317,921
INVESTMENT INCOME
£(7,810)
OTHER INCOME
£393,953
DONATIONS AND LEGACIES
£636 TOTAL INCOME 2020
CHARITABLE ACTIVITIES £402,831
£432
INVESTMENT INCOME
£7,810
OTHER INCOME
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Unrestricted Restricted Total Funds Total Funds
Note
Funds Funds 2021 2020
Income and endowments from:
Donations and legacies 2 £231,992 £87,842 £319,834 £393,953
Charitable activities 3 £5,423 £5,423 £636
Investment income 4 £474 £474 £432
Other income 5 £(7,810) £(7,810) £7,810
Total income £230,079 £87,842 £317,921 £402,831
Expenditure on:
Raising funds £40,696 £17,415 £58,111 £41,097
Charitable activities £134,781 £165,321 £300,102 £375,516
Total expenditure £175,477 £182,736 £358,213 £416,613
Net movements in funds £54,602 £(94,894) £(40,292) £(13,782)
Reconciliation of funds
Total funds brought forward £49,105 £112,221 £161,326 £175,108
Total funds carried forward £103,707 £17,327 £121,034 £161,326
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LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 25 ## **BALANCE SHEET** ## AS AT 31 MARCH 2021 **----- Start of picture text -----**
Note 2021 2020
Fixed assets
Investments 12 1 1
Current assets
Debtors 14 £11,553 £18,835
Cash at bank and in hand £133,933 £201,005
£145,486 £219,840
Creditors: Amounts falling due within one year 15 £(24,453) £(58,515)
Net current assets £121,033 £161,325
Net assets £121,034 £161,326
The funds of the charity:
Restricted funds £17,327 £112,221
Unrestricted funds
£103,707 £49,105
Unrestricted income funds
Total charity funds £121,034 £161,326
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The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The notes on pages 28 to 38 form an integral part of these financial statements. ## **APPROVED BY THE BOARD ON:** Tuesday 21[st] September 2021 and signed on its behalf by: **P Hensman** Trustee LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 26 ## **NOTES TO THE FINANCIAL STATEMENTS** ## FOR THE YEAR ENDED 31 MARCH 2021 ## 1. ACCOUNTING POLICIES ## **STATEMENT OF COMPLIANCE** The accounts (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 (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019. The accounts (financial statements) have been prepared to give a ‘true and fair’ view and 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 Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. ## **BASIS OF PREPARATION** The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. ## **GOING CONCERN** The charity has considered whether the use of the going concern basis of accounting is appropriate. To do this, they have considered whether there are any material uncertainties as to the charity’s ability to continue as a going concern. They have carried out this assessment for a period of at least one year from the date of approval of these accounts. Following the outbreak of the COVID-19 pandemic, the trustees have prepared detailed budgets to take into account the uncertainties surrounding the pandemic. As a result of this review, the trustees remain confident that there are financial resources available to see the charity through until normal operations resume and are satisfied that there are no material uncertainties about the charity’s ability to continue as a going concern. ## **FUND ACCOUNTING POLICY** Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Further details of each fund are disclosed in note 19. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 27 ## **NOTES TO THE FINANCIAL STATEMENTS** ## FOR THE YEAR ENDED 31 MARCH 2021 ## 1. ACCOUNTING POLICIES Continued... ## **INCOME AND ENDOWMENTS** Donations and legacies including donations and grants that provide core funding or are of a general nature are recognised where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. Deferred income consists of resources received by a charity that do not meet the criteria for recognition as income in the statement of financial activities (SoFA) because entitlement to the income does not exist at the balance sheet date. Deferred income is not recognised in the SoFA until the charity is entitled to the income. Instead, deferred income is disclosed as a liability in the balance sheet. Income from donated goods is measured at fair value of the goods unless this is impractical to measure reliably, in which case the value to the charity is recognised as income when the goods are sold. Incoming resources from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate. Shop income is recognised as earned (that is, as the related goods or services are provided). Investment income is recognised on a receivable basis. ## **EXPENDITURE** Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Grants payable are payments made to third parties in the furtherance of the charitable objectives. Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specific service or output. Grants payable without performance conditions are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 28 ## **NOTES TO THE FINANCIAL STATEMENTS** ## FOR THE YEAR ENDED 31 MARCH 2021 ## 1. ACCOUNTING POLICIES Continued... Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. ## **SUPPORT COSTS** Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. ## **CASH AND CASH EQUIVALENTS** Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the statement of the financial activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the statement of financial activities based on the market value at the year end. ## **OPERATING LEASES** Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis over the lease term. ## **PENSIONS** The charity operates a defined contribution pension scheme. Contributions are charged in the statement of financial activities as they become payable in accordance with the rules of the scheme. ## **INVESTMENTS** Fixed asset investments are included at market value at the balance sheet date. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 29 ## **NOTES TO THE FINANCIAL STATEMENTS** ## FOR THE YEAR ENDED 31 MARCH 2021 ## 2. DONATIONS AND LEGACIES **----- Start of picture text -----**
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2021 2020
Donations and legacies
Appeals and donations £21,100 £87,842 £108,942 £143,166
Gift Aid tax reclaimed £11,442 - £11,442 £8,572
£32,542 £87,842 £120,384 £151,738
Grants
UK Government grants £51,534 - £51,534 -
Grants - Other agencies under £5,000 - - - £26,571
BMC Mend our Mountains - - - £40,000
Environment Agency £29,575 - £29,575 £10,800
HF Holidays - - - £10,000
Hydro Flask Parks - - - £18,687
Lake District National Park Authority £20,000 - £20,000 £23,000
The National Trust £23,158 - £23,158 £23,158
Natural England - - - £19,999
NESTA £24,850 - £24,850 £50,000
United Utilities £20,000 - £20,000 £20,000
Love the Lakes £5,000 - £5,000 -
The Tern Trust £1,000 £2,500 £3,500 -
Garfield Weston £3,333 - £3,333 -
ESIF £9,000 - £9,000 -
John Spedan Lewis Foundation £12,000 - £12,000 -
£199,450 - £199,450 £ 42,215
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Unrestricted Restricted Total Funds Total Funds
Funds Funds 2021 2020
Grants (continued)
Linley Shaw Charitable Foundation - £2,000 £2,000 -
Alice Noakes Trust - £3,000 £3,000 -
Southall Charitable Trust - £3,000 £3,000 -
Swire Charitable Trust - £10,000 £10,000 -
Catherine Cookson Charitable Trust - £750 £750 -
Transpennine Express TPE - £5,000 £5,000 -
Forest Holiday - £9,413 £9,413 -
Hedge and Woodland - £1,000 £1,000 -
Conservationists (HAWC)
Restore our Planet - £450 £450 -
Reed Foundation - £2,500 £2,500 -
Alpkit Foundation - £500 £500 -
Robert Clutterbuck Charitable Trust - £1,000 £1,000 -
Open Gate Charitable Trust - £1,000 £1,000 -
Total Grants £199,450 £42,113 £241,563 £242,215
Total Donations and Legacies £231,992 £87,842 £319,834 £393,953
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Of the donations and legacies income in 2020 £199,899 related to unrestricted funds and £194,054 related to restricted funds. During the year the UK Government grants received of £51,534 were made up of £42,199 from the Coronavirus Job Retention Scheme and £9,335 from the South Lakeland District Council Coronavirus Discretionary Fund. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 30 ## **NOTES TO THE FINANCIAL STATEMENTS** ## FOR THE YEAR ENDED 31 MARCH 2021 ## 3. CHARITABLE ACTIVITIES **----- Start of picture text -----**
Unrestricted Funds Restricted Funds Total Funds 2021 Total Funds 2020
Charitable activities
Sales of donated goods £5,423 - £5,423 £636
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All of the charitable activities income in 2020 related to unrestricted funds. ## 4. INVESTMENT INCOME **----- Start of picture text -----**
|||||| |---|---|---|---|---| |Unrestricted Funds|Restricted Funds|Total Funds 2021|Total Funds 2020| |Interest on cash deposits|£474|-|£474|£432| **----- End of picture text -----**
All of the investment income in 2020 related to unrestricted funds. ## 5. OTHER INCOME **----- Start of picture text -----**
|||||| |---|---|---|---|---| |Unrestricted Funds|Restricted Funds|Total Funds 2021|Total Funds 2020| |Other income -|£(7,810)|-|£(7,810)|£7,810| |consultancy| **----- End of picture text -----**
All of the other incoming resources in 2020 related to unrestricted funds. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 31 ## **NOTES TO THE FINANCIAL STATEMENTS** ## FOR THE YEAR ENDED 31 MARCH 2021 ## 6. TOTAL RESOURCES EXPENDED **----- Start of picture text -----**
Fundraising activities Project Costs Total 2021 Total 2020
Direct costs
Grants payable - £165,321 £165,321 £206,930
Project expenditure - £14,787 £14,787 £16,453
Marketing and PR Support £94 - £94 £12,866
Gateway fees and other fundraising costs £5,483 - £5,483 £8,244
Wages and salaries £37,862 £54,455 £92,317 £80,318
Staff NIC (Employers) £1,907 £2,742 £4,649 £4,504
Staff pensions £1,111 £1,599 £2,710 £2,975
Recruitment costs - - - £260
Total Direct Costs £46,457 £238,904 £285,361 £332,550
Support costs
Staff training £36 £187 £223 £631
Wages and salaries £8,802 £46,216 £55,018 £54,145
Staff NIC (Employers) £443 £2,328 £2,771 £4,344
Staff pensions £258 £1,357 £1,615 £2,190
Rent and rates £613 £3,220 £3,833 £5,167
Insurance £176 £924 £1,100 £726
Repairs and maintenance - - - £319
Telephone and fax £102 £539 £641 £969
Computer software and maintenance costs £827 £4,343 £5,170 £8,370
Printing, postage and stationery £25 £126 £151 £549
Membership and subscriptions £72 £381 £453 £2,214
Sundry expenses - - - £204
Travel and subsistence - - - £1,412
Accountancy fees £185 £973 £1,158 £2,113
Independent examiner’s fee £104 £546 £650 £650
Bank charges £11 £58 £69 £60
Total Support Costs £11,654 £61,198 £72,852 £84,063
Total Expenditure £58,111 £300,102 £358,213 £416,613
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Of the expenditure in 2020, £182,705 related to unrestricted funds and £233,908 related to restricted funds. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 32 ## **NOTES TO THE FINANCIAL STATEMENTS** ## FOR THE YEAR ENDED 31 MARCH 2021 ## 7. GRANTS MADE **----- Start of picture text -----**
2021 2020
Institutions
Lake District National Park Authority £155,565 £178,835
Coniston Parish - £1,465
RSPB - £439
Voluntary Action Cumbria - £2,250
Cumbria Outdoors - £522
West Cumbria Rivers Trust - £439
Cumbria Wildlife Trust - £2,250
Herdwick Sheep Breeders - £1,750
Ullswater Catchment - £2,500
Bee Team - £2,500
Staveley Woodland - £2,500
Calderbridge - £2,100
Growing Well - £2,500
Swift Community - £2,500
South Cumbria Rivers Trust - £2,500
Herdwick Marquee Crowdfunder - £1,800
Westmorland Red Squirrels £1,951 -
Grasmere Red Squirrels £1,115 -
Solway Red Squirrels £1,115 -
West Lakes Red Squirrels £1,115 -
Brampton District Red Squirrels £1,115 -
Penrith Red Squirrels £1,115 -
Copeland Red Squirrels £1,115 -
Northumberland Wildlife Red Squirrels £1,115 -
£165,321 £206,930
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OF THE £155,565 LAKE DISTRICT NATIONAL PARK AUTHORITY GRANTS MADE IN THE YEAR: - £101,487 relates to the Keswick to Threlkeld project - £26,263 relates to the Fix the Fells project - £5,750 relates to Orrest Head - £2,000 relates to the Red Squirrels project - £20,065 relates to the LDNPA - Looking after the Lake District campaign LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 33 ## **NOTES TO THE FINANCIAL STATEMENTS** ## FOR THE YEAR ENDED 31 MARCH 2021 ## 8. GOVERNANCE COSTS **----- Start of picture text -----**
2021 2020
Accountancy fees £1,158 £2,113
Independent examiner’s fee £650 £650
£1,808 £2,763
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## 11. TAXATION The registered charity is exempt from taxation on income and gains. ## 12. INVESTMENTS HELD AS FIXED ASSETS **Investments in group and associated undertakings** ## **Market value** ## 9. TRUSTEES’ REMUNERATION AND EXPENSES No expenses were paid to trustees in the year. (2020: £nil) ## 10. EMPLOYEES’ REMUNERATION **----- Start of picture text -----**
As at 1 April 2020 and 31 March 2021 £1
Net book value
As at 31 March 2021 £1
As at 31 March 2020 £1
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All investment assets were held in the UK The monthly average number of persons (including senior management) employed by the charity during the year was as follows: **----- Start of picture text -----**
2021 2020
Charitable activities 4 4
The aggregate payroll costs of these persons were as follows:
Wages and salaries £147,335 £134,463
Social security £7,420 £8,848
Other pension costs £4,325 £5,165
£159,080 £148,476
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No employee received emoluments of more than £60,000 during the year. Total employee benefits paid to key management personnel of the Charity were £87,092. ## 13. INVESTMENTS IN SUBSIDIARIES The charity holds more than 20% of the share capital of the following company: ||**Country of incorporation**|**Principal**|**activity**
**Class**|**%**| |---|---|---|---|---| |**Subsidiary undertakings**||||| |Nurture Tourism Limited|England and Wales|Dormant|Ordinary|100%| ||**Capital & reserves**||**Proft/(loss) for the period**|| |**Subsidiary undertakings**||||| |Nurture Tourism Limited|£1||-|| LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 34 ## **NOTES TO THE FINANCIAL STATEMENTS** ## FOR THE YEAR ENDED 31 MARCH 2021 ## 14. DEBTORS **----- Start of picture text -----**
2021 2020
Trade debtors - £18,609
Prepayments and accrued income £11,553 £226
£11,553 £18,835
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## 17. PENSION SCHEME ## **DEFINED CONTRIBUTION PENSION SCHEME** The charity operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the charity to the scheme and amounted to £4,325 (2020 - £5,165). Contributions totalling £48 (2020 - £49) were payable to the scheme at the end of the period and are included in creditors. ## 18. RELATED PARTIES ## **CONTROLLING ENTITY** ## 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR **----- Start of picture text -----**
2021 2020
Trade creditors £4,463 £2,501
Taxation and social security - £3,415
Other creditors £48 £49
Accruals and deferred income £19,942 £52,550
£24,453 £58,515
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## 16. OPERATING LEASE COMMITMENTS As at 31 March 2021 the charity had total future minimum lease payments under non-cancellable operating leases as follows: **----- Start of picture text -----**
2021 2020
Land and Buildings
Within one year - £7,167
Within two and five years - £11,333
- £18,500
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During the year the Lake District Foundation exited their lease for office space with the Lake District National Park Authority due to the coronavirus pandemic The charity is controlled by the trustees. ## **RELATED PARTY TRANSACTIONS** Core partner funding received from related parties during the year was as follows: **----- Start of picture text -----**
Partner Director/Executive 2021 2020
National Trust M Innerdale £23,158 £23,158
Lake District National Park Authority Dr R N Leafe £20,000 £23,000
Environment Agency K Ashcroft £29,575 £10,800
United Utilities G Murphy £20,000 £20,000
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Other businesses contribute money collected from visitors and the following have senior staff who serve on the board of trustees: **----- Start of picture text -----**
Partner Director/Executive 2021 2020
Cedar Manor Hotel J Kaye £876 £2,120
Ambleside Park A M Craig-Mair - £520
Lake District Estates Company Limited P Hensman £2,072 £1,305
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G Haigh is the Managing Director of Cumbria Tourism. During the year, the following payments were made to Cumbria Tourism in respect of: **----- Start of picture text -----**
Partner 2021 2020
Nesta Partnership Delivery £4,250 £8,500
Marketing Support - £1,250
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## **GRANTS MADE:** Dr R N Leafe is the CEO of the Lake District National Park Authority (LDNPA). Lake District Foundation engages in joint fundraising activities with the Lake District National Park Authority which has resulted in £155,565 (2020: £178,835) being granted during the year. In addition, the charity has paid rent of £3,833 (2020: £5,167) and IT support costs £671 (2020: £3,600) during the year to the LDNPA, who provided office space to the charity until October 2020. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 35 ## **NOTES TO THE FINANCIAL STATEMENTS** ## FOR THE YEAR ENDED 31 MARCH 2021 ## 19. ANALYSIS OF FUNDS **----- Start of picture text -----**
At 1 April 2020 Incoming resources Resources expended At 31 March 2021
General Funds
Unrestricted income fund £49,105 £230,079 £(175,477) £103,707
Restricted Funds
Keswick to Threlkeld £101,487 - £(101,487) -
LDNPA - Looking after the
£2,321 £30,356 £(31,541) £1,136
Lake District
Fix the Fells £5,152 £27,257 £(31,873) £536
Red Squirrels £1,716 £12,584 £(14,280) £20
Kendal Mountain Festival £1,545 - - £1,545
Real Hedge Fund - £17,645 £(3,555) £14,090
Total Restricted Funds £112,221 £87,842 £(182,736) £17,327
Total Funds £161,326 £317,921 £(358,213) £121,034
PRIOR PERIOD
At 1 April 2019 Incoming resources Resources expended At 31 March 2020
General Funds
Unrestricted income fund £23,033 £208,777 £(182,705) £49,105
Restricted Funds
Keswick to Threlkeld £93,042 £10,582 £(2,136) £101,488
Lake District Foundation Fund £24,730 - £(24,730) -
LDNPA - Looking after the
£(134) £32,088 £29,743 £2,211
Lake District
Fix the Fells £25,936 £136,958 £(157,742) £5,152
LDNPA Ullswater Way £8,501 £4,551 £(13,052) -
LDNPA Orrest Head - £3,505 £(3,396) £109
Red Squirrels - £2,464 £(748) £1,716
Kendal Mountain Festival - £1,936 £(391) £1,545
Herdwick Association - £1,970 £(1,970) -
Total Restricted Funds £152,075 £194,054 £(233,908) £112,221
Total Funds £175,108 £402,831 £(416,613) £161,326
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## **KESWICK TO THRELKELD** This fund was held for money raised from donations and grants for the reinstatement of the Keswick to Threlkeld Multi User Trail. This multi million pound project completed construction this year, with funding used for public realm/community improvements once the heavy engineering and capital works were completed. ## **LDNPA - LOOKING AFTER THE LAKE DISTRICT** This is held for income raised in partnership with the Lake District National Park Authority, distributed biannually for activity undertaken by the Authority related to caring for the fabric of the Lake District National Park and contributing to the maintenance of the rights of way network. ## **FIX THE FELLS** This fund is held for donations and grants received to support the work of the Fix the Fells Partnership, responsible for upland footpath repair. ## **RED SQUIRRELS** This is held for donations and grants received to support Red Squirrel Conservation. Work is generally delivered by partners and community groups. Image credit Charles Thody ## **KENDAL MOUNTAIN FESTIVAL** This fund is held for support work with young people inspiring others to enjoy the outdoor environment. ## **REAL HEDGE FUND** This fund is held for donations and grants received to support the work of the Real Hedge Fund Project, delivering hedgerow conservation and restoration activity. LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 36 ## **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 MARCH 2021 ## 20. NET ASSETS BY FUND ## **PRIOR PERIOD** **----- Start of picture text -----**
Unrestricted Funds Restricted Funds Total Funds 2021 Total Funds 2020
Investments £1 - £1 £1
Current assets £128,159 £17,327 £145,486 £219,840
Creditors: Amounts falling £(24,453) - £(24,453) £(58,515)
due within one year
Net assets £103,707 £17,327 £121,034 £161,326
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Unrestricted Funds Restricted Funds Total Funds 2020 Total Funds 2019
Investments £1 - £1 £1
Current assets £57,810 £162,021 £219,840 £227,030
Creditors: Amounts falling
£(8,715) £(49,800) £(58,515) £(51,923)
due within one year
Net assets £49,105 £112,221 £161,326 £175,108
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LAKE DISTRICT FOUNDATION ANNUAL REPORT 2020-2021 37 **CONTACT US** Murley Moss Business Park, Oxenholme Road, Kendal, Cumbria LA9 7RL **e** info@lakedistrictfoundation.org **FIND OUT MORE** www.lakedistrictfoundation.org @lakesfoundation Lake District Foundation Lake District Foundation The Lake District Foundation a charity registered in England and Wales with the charity number 1174201, and is registered with the Fundraising Regulator. This report has been printed on sustainably sourced paper.