Lake ict dation
02 Lake District Foundation Annual Report 2023/24
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Chair’s report
It is with a huge sense of pride that I present this year’s Annual Report.
The Lake District is an iconic place loved around the globe and across generations. From artists to explorers, paddleboarders to fell runners, Wordsworth to Taylor Swift, the Lake District inspires and delights. It is, therefore, both a great responsibility and a real pleasure to be the Chair of a charity dedicated to ensuring the sustainable future of this part of the world.
Throughout the year, our dedicated team of Trustees puts their trust in the skills, passion and vision of our fantastic staff team. I am proud of what they have delivered.
This year followed a successful audit which showed that we have strong financial governance, together with the solid foundations required for a
growing, thriving charity. With a forward-looking plan, a refreshed brand and strong leadership, the Foundation goes from strength to strength.
Our work brings together regional and national partners, community groups and non-profit organisations all of whom are working hard on the ground every day to make a difference to the Lake District. Additionally, it’s the support of everyone involved, from individual donors to local businesses, who have helped us to achieve the successes detailed in this annual report.
Many thanks to all of you for another great year.
Keith Ashcroft
Chair of the Board of Trustees Lake District Foundation
“…we have strong financial governance, together with the solid foundations required for a growing, thriving charity”
03 Lake District Foundation Annual Report 2023/24
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The year at a glance
35
local businesses were supported to lower their carbon emissions
145
community members responded to our National Trails survey
294 items of outdoor kit were saved from landfill
176 294 people benefitted items of outdoor kit from personalised were saved from landfill advice on woodland management £67k 12 raised for Fix the Fells new bridges sponsored in the Lake District National Park
04 Lake District Foundation Annual Report 2023/24
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Lake District for everyone
Everyone should be able to enjoy being outdoors in the Lake District and other National Parks. Yet the environmental and conservation sector is amongst the least diverse and accessible of all UK workplaces.
In 2023/2024 we signed up to the RACE Report, which focus on charities and funders working on environmental and conservation issues, highlighting the need for greater representation in sustainability and climate action.
We have a long way to go as an organisation and as a sector, but we are committed to change and this is just the start for us.
05 Lake District Foundation Annual Report 2023/24
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Cleaner Lakes
Windermere has made headlines for the wrong reasons this year. We continue to take a positive, proactive approach, always seeking new ways to improve in water quality and biodiversity in Windermere and all bodies of water across Cumbria.
The Love Windermere partnership brings together key stakeholders who care for the lake. The Lake District Foundation aims to create and support a sustainable economic model for the partnership that drives investment into Windermere and its catchment, supporting the delivery of the longterm management plan for the lake. We support the partnership’s aims by working on sustainable finance and non-mains drainage workstreams.
Officer role. This role is to develop a good understanding of how the Love Windermere Partnership can support farmers and help to reduce nutrient input into Windermere.
Our septic tank pilot grant scheme raised awareness amongst residents who have non-mains drainage, especially in the Skelwith Bridge area.
We have supported Love Windermere communications and brand building activities, including the Love Windermere podcast, available to listen via all major platforms.
With support from the Natural Environment Investment Readiness Fund, we are working to become investment ready as a charity. This has led to the development of an investment portal called Invest Lake District, with projects directly linked to improving water quality for Windermere. Invest Lake District goes live in summer 23/24 and we will report on its impact in the next annual report.
We also secured funding from Westmorland and Furness Council to support a Farmer Liaison
06 Lake District Foundation Annual Report 2023/24
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National Trails
Natural England commissioned some research testing community and business attitudes to the Coast to Coast Path and King Charles III (KCIII) England Coast Path.
The Coast to Coast Path National Trail showcases 197 miles of English countryside, including the Lake District. The KCIII England Coast Path comprises 2700 miles of England’s coastline, with this research focused on a long-established section in the North East.
We collated surveys from 145 community members, 63 businesses and 34 land managers. 94% of community members and 73% of business owners felt the trail would have a positive impact on local business community. However, only 30% of land managers perceived the trail as having a positive impact on farmers and land managers. Read the report here.
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Perceived the trail as having a positive impact…
94% 73% 30% community business land members owners managers
07 Lake District Foundation Annual Report 2023/24
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Since 2021
1,000+ metres of hedgrows planted and maintained
The Real Hedge Fund
Every year in the UK 6,000 miles of hedges are completely uprooted, with less than 1,200 miles re-planted.
Hedges provide habitats for dormice, barn owls, bats and many species of birds, whilst reducing the impact of drought and flooding, and stopping fertiliser, pesticides sediment from reaching rivers and lakes.
We launched the Real Hedge Fund in 2021 and since then the project has helped to plant and maintain over 1,000 metres of hedgerows across Cumbria. In 23/24 we launched a Christmas fundraising drive. Thanks to the generosity of our individual supporters, we
raised £2500 which added to the £3529 fund. The fund reopened for applications on 5th June 2024 with a pot of £5,000 available. £2500
We’ll report on how the fund was put to good use in next year’s annual report.
raised for the fund
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08 Lake District Foundation Annual Report 2023/24
Low Carbon Lake District
In June the incredibly successful Low Carbon Lake District Grant Scheme, as part of The European Regional Development Fund, came to an end.
The project began in January 2021 with the aim of supporting businesses and groups in the region to improve energy efficiency, reduce carbon emissions, and increase the amount of renewable energy being created in the Lake District.
In 23/24 we made grants to 32 local businesses, totalling £542,242.
During the 30-months of delivery, a total of 80 projects were completed, across 70 organisations. Over £953,000 was awarded and an estimated 544.3 metric tons of CO2 will be saved each year because of these projects.
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Grants to 32 businesses, totalling £542,242 £953k in 2023/24 in total
Estimated 544.3 metric tons of CO2 saved each year
09 Lake District Foundation Annual Report 2023/24
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Sustainable Grant Fund
Our friends in the hospitality industry often tell us that they’re keen to implement greener practices but their businesses are struggling to invest in climate-friendly upgrades. That’s why in 23/24 we partnered with Booking.com to introduce the Sustainable Grant Fund.
Grants of up to £2,000 are available to support small accommodation providers in the Lake District to implement more sustainable business projects and practices. These might include energy efficiency upgrades, water conservation measures or sustainable building renovations.
The grant-recipients and carbon savings achieved will be reported in next year’s annual report.
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10 Lake District Foundation Annual Report 2023/24
Woodland Futures
Woodland creation and management is crucial for tackling biodiversity loss and capturing carbon in the Lake District and elsewhere.
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In March 2022, we joined forces with Cumbria Woodlands to deliver the three year project Woodland Futures, funded by the Trees Call to Action Fund from the National Lottery Heritage Fund.
One of the project’s major aims is education as Woodland management and creation is seen as complicated, time consuming and costly by many landowners.
350+
people took part in field training and visits
At the halfway point (18 months into the project) we have already attended 52 agricultural shows, marts and meetings and connected with nearly 800 people.
Over 350 people took part in field training and visits, 4,866 people have viewed our online training videos, and we have delivered specific one to one advice to 176 people.
4,800+
people have viewed our online training videos
176
people have received specific one to one advice
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11 Lake District Foundation Annual Report 2023/24
Carbon Awareness Campaign
Every year, there are around 60 deaths from accidental carbon monoxide (CO) poisoning in England and Wales.
Since 2021 we have partnered with Northern Gas Network fund to raise awareness of CO amongst first time campers and boaters visiting the Lake District.
In September we visited 5 campsites in the wider Keswick area, distributing leaflets and speaking to campers. In March, we designed and ran a major social media campaign timed to coincide with the Easter holidays and the start of the camping season. We worked with a graphic designer to create an Instagram reel that quickly but effectively communicated the key CO awareness messages. We used advertisement on the posts, targeting a NW-based outdoors loving demographic and it reached nearly 5,000 accounts.
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12 Lake District Foundation Annual Report 2023/24
Fix the Fells
Maintaining the National Park’s 344 upland paths covering 410 miles (661 km), costs £500,000 a year, and there’s no statutory funding to support this. We’re proud to have raised £67,000 to Fix the Fells in 23/24.
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£67k given in 2023/24
As a small, agile, local and trusted charity, we have been able to continue to secure funds for Fix the Fells year on year, without donor fatigue. As well as visitor-giving and direct fundraising appeals this year we secured a major partnership with outdoors clothing brand Montane. Customers shopping with the Montane website are able to donate to Fix the Fells as they check-out. In 2023/24, this partnership raised £3,584.
Fix the Fells is a partnership project with National Trust, Lake District National Park Authority, Natural England, The Lake District Foundation and Friends of the Lake District.
13 Lake District Foundation Annual Report 2023/24
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National Park Sponsorship
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For so many people the Lake District holds unforgettable memories. Working in partnership with the Lake District National Park Authority, we’ve been able to offer the public and businesses a chance to mark their memories while helping to maintain trails.
Our National Park sponsorship scheme sees supporters matched with wellworn bridges, fingerposts and gates that need to be replaced. In return for their donation a small plaque is placed on the new furniture, often used to mark a significant event or the passing of a loved one.
In 23/24 donations were made for 12 fingerposts and 12 bridges, raising £29,500.
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12 12 £29.5k fingerposts bridges raised
“We started sponsoring through the Lake District Foundation a few years back. We started as a family ticking off the Wainwrights and start this year with 80 left to climb. As a family, we decided that we needed to give something back to the Lakes for all the enjoyment we have had from exploring its beautiful regions. Hopefully our contributions will help others to be able to enjoy the Lakes for years to come.”
~ National Park Sponsor
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14 Lake District Foundation Annual Report 2023/24
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raised
£750+
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Outdoors Kit Recycling
Every year 350,000 tonnes of wearable clothing goes to landfill in the UK.
In the summer of 2023, we started a pilot project to see whether we could reduce the amount of performance clothing sent to landfill and generate income for the charity.
We hosted stalls at the Great North Swim and the 13 Valleys Ultra, inviting participants and spectators to donate pre-loved outdoor gear. During the events we asked for donations of £5 -15 for each piece of kit. We raised over £750, with 294 items saved from landfill.
We are looking at ways to expand this project, including providing much-needed kit to disadvantaged groups, to increase access to the Lake District.
15 Lake District Foundation Annual Report 2023/24
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Partners and Funders
Business Supporters
We are grateful for the continued support of our funders, donors and supporters over the last year, including:
Love Windermere Partnership Lake District National Park Catherine Cookson Charitable Trust Alpkit Foundation Michael Marks Charitable Trust Grocers Hall Charitable Trust Robert Clutterbuck Charitable Trust National Trust (Northern) Swire Charitable Trust William Dean Educational Trust Langdale Natural England United Utilities Northern Gas National Lottery Heritage Fund European Regional Development Fund Westmorland and Furness Council
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16 Lake District Foundation Annual Report 2023/24
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A massive thank you to everyone who has raised funds or donated to our campaigns this year.
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Fundraisers
We were extremely lucky to work with a couple of high-profile fundraisers this year, gaining both vital funds and media attention for our work.
Summits Up for Tony
Heroic eight-year-old Tony, a double amputee, sumitted Orrest Head, in August 2023.
Tony suffered life-threatening injuries when he was just six weeks old, resulting in multiple fractures, dislocations and eventually leading to both Tony’s legs being amputated.
Hector’s World Record Swim
In September, Team GB Olympian Hector Pardoe became the fastest man to swim the length of Windermere.
As well as smashing world records, Hector raised over £900 on his fundraising page. Plus, a cheeky bet with his sponsor Aquasphere – who agreed £1 for every swimmer he passed during the event – led to a further donation of £493.
His incredible effort raised £49,000 and was shared between the Lake District Foundation and three other charities.
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17 Lake District Foundation Annual Report 2023/24
Lake District Foundation
Contents
Registration number: 1174201
Annual Report and Financial Statements
Year ended 31st March 2024
| Reference and Administrative Details Trustees Report Financial Summary Trustees Responsibilities Independent Auditors Report Statement of Financial Activities Balance Sheet Cash Flow Statement Notes to the Financial Statements |
Reference and Administrative Details Trustees Report Financial Summary Trustees Responsibilities Independent Auditors Report Statement of Financial Activities Balance Sheet Cash Flow Statement Notes to the Financial Statements |
Reference and Administrative Details Trustees Report Financial Summary Trustees Responsibilities Independent Auditors Report Statement of Financial Activities Balance Sheet Cash Flow Statement Notes to the Financial Statements |
Reference and Administrative Details Trustees Report Financial Summary Trustees Responsibilities Independent Auditors Report Statement of Financial Activities Balance Sheet Cash Flow Statement Notes to the Financial Statements |
Details | Details | Details | 19 20 22 24 25 28 29 29 30 |
|---|---|---|---|---|---|---|---|
| Statements |
18 Lake District Foundation Annual Report 2023/24
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Reference and Administrative Details
Charity name
Principal office
Trustees
Lake District Foundation
Charity registration number
1174201
Lake District Foundation Murley Moss Business Park Oxenholme Road Kendal LA9 7RL
Registered office
Lake District Foundation Murley Moss Business Park Oxenholme Road Kendal LA9 7RL
M Innerdale K Ashcroft, Chair Dr R N Leafe P Hensman A Airey G Haigh M Hartnett A E Forrester (Resigned 31 March 2024) D Visser D G Booth (Appointed 18 May 2023)
Auditor
Dodd & Co Audit Limited Fifteen Rosehill Montgomery Way Rosehill Estate Carlisle CA1 2RW
19 Lake District Foundation Annual Report 2023/24
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Trustees Report for the Year Ended 31 March 2024
The Trustees are pleased to present their report and accounts for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to 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 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland.
Our Charitable Objectives
Our objectives, 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
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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.
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We will support the delivery of the shared aims of the Lake District National Park Partnership
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We will encourage partners to work collaboratively to achieve shared goals and to ensure a coordinated approach to fundraising and income generation.
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We will mobilise people and resources to enable transformative change across the Lake District by:
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• Enabling communities to take the lead • Learning and innovating
20 Lake District Foundation Annual Report 2023/24
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Reserves Policy
Trustee Recruitment, Induction and Training
Risk Management
The Board has agreed to hold at least 6 months of operating costs in reserve. This target has now been met but we continue to ensure that we can meet our liabilities in the event of closure. The organisation and staff team have grown within this year and with that our reserves target has grown. We also retain funds to allocate to programmes of work and as match funding in line with achieving our charitable objects. Economic uncertainty continues to exist in the Lake District which is heavily reliant on the visitor and tourism economy. We also need strong reserves to finance large grant programmes for which we are recompensed in arrears.
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.
Trustees are recruited by the Board in accordance with the skills requisite of the role. There is a minimum of three and a maximum of 15 trustees. The term of office of each trustee shall be no longer than three years. A trustee may be appointed to the Board for two further terms of three years. 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:
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Meet the description outlined in the role of trustees
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Comply with the process for the election of directors and adhere to our Code of Conduct
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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.
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 it’s activities.
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23/24 22/23
Financial Summary
Income Review
Overview
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Donations Grants Other income Total income
and Legacies
£198,618
£137,135
£1,007,488 £914,294 £11,246 £2,378 £1,217,352 £1,053,807
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The charity has had a productive and eventful year. We have continued to provide support to many of our communities and businesses through visitor-giving and grant-funded projects. Our charitable goal is a thriving Lake District for everyone - protecting its natural beauty, rich heritage and vibrant communities. To achieve this, we must address critical issues such as biodiversity loss and climate change through sustainable actions. Along with funding vital projects, we collaborate with businesses, visitors, community groups and public bodies to inspire positive action across the region.
Grant-funding remains a large part of our charity’s focus as visitor giving continues to be a challenge in the current cost of living crisis. Through prudent investment in our staff team during the year, we have increased our capacity to work with a growing number of funders who are committed to delivering projects in line with our charitable objectives.
Financial summary
This financial year has shown our total income rise from £1,053,807 in 22/23 to £1,217,352 in 23/24. Donations, whilst remaining low compared to pre-Covid levels, has seen a valuable uplift from the receipt of gifts in wills and targeted campaign drives. It has been impressive that despite the challenges facing the charity sector, our income has continued to grow since the last financial year.
22 Lake District Foundation Annual Report 2023/24
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Expenditure has increased from £1,100,566 in 22/23 to £1,235,702 in 23/24. While support costs have increased slightly on the previous year, direct costs have risen accordingly with the increased grant income. Over half of our direct cost expenditure relates to grants given to communities and businesses in line with our charitable objectives.
The year ended with a surplus in unrestricted funds of £10,308 and a deficit in restricted funds of -£28,658, leaving an overall year end deficit of -£18,350.
The restricted fund deficit of -£28,658 is due to funds being paid out in 23/24 that included balances brought forward from 22/23. When added together, the actual figure for restricted funds to carry forward is a surplus of £24,606.
Restricted Fund Balances
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£53,264
£24,606
Income £1,059,872 Expenditure £1,088,530 Net Movement – £28,658 Funds brought forward Funds carried forward
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Unrestricted Fund Balances
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£157,480 £147,172 £10,308 £333,103 £343,410
Income Expenditure Net Movement Funds brought forward Funds carried forward
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Reserves
Unrestricted funds have increased by £10,308, leaving a free reserve balance of £343,410 to carry forward. The charity recognises the need to maintain a level of free reserves that meets at least 6 months of core operating costs - this has been achieved. We also strive to have an additional level of reserves to enable us to continue to grow our work and our team in line with our charitable objectives. This will help us to fund more programmes of work and to match funding projects that can help with our efforts to support the Lake District.
Approved by the Trustees on 15 October 2024 and signed on their behalf by:
K Ashcroft
Trustee
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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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 as amended by the Charities Act 2022, 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.
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24 Lake District Foundation Annual Report 2023/24
Independent Auditors’ Report
Opinion
We have audited the financial statements of Lake District Foundation for the year ended 31 March 2024, set out on pages 28 to 41 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accountign Standards, including Financial Reporting Standard 102 (FRS 102) The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity’s affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended;
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• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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• have been prepared in accordance with the requirements of the Charities Act 2011 as amended by the Charities Act 2022.
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 12 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. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there
is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Financial Statements is inconsistent in any material respect with the Trustees’ Report; or
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sufficient accounting records have not been kept; or
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the Financial Statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Trustees’ Responsibilities Statement set out on page 24, the trustees are responsible for the preparation of the Financial Statements which 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
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a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under the Charities Act 2011, s. 144 and report in accordance with regulations made under 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.
Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
-
the nature of the industry and sector, control environment and charity’s performance;
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results of our enquiries of management about their own identification and assessment of the risks of irregularities;
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any matters we identified having obtained and reviewed the charity’s documentation of their policies and procedures relating to:
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identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
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detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
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the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
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the matters discussed among the audit engagement team and involving relevant internal specialists, including pensions regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud to be in relation to revenue recognition and management override which, in common with all audits under ISAs (UK), we are required to perform specific procedures to respond to this risk.
We also obtained an understanding of the legal and regulatory framework that the charitable company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Charities Act, pensions legislation and tax legislation.
As a result of performing the above, in response to the risks identified, we did not identify any key audit matters related to the potential risk of fraud or non-compliance with laws and regulations.
In addition to the above, our procedures to respond to risks identified included the following:
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reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
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enquiring of management concerning actual and potential litigation and claims;
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performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
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reading minutes of meetings of those charged with governance, reviewing correspondence with HMRC; and
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• in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
26 Lake District Foundation Annual Report 2023/24
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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.
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Dodd & Co Audit Limited
Chartered Accountants & Registered Auditors
15 October 2024
Fifteen Rosehill Montgomery Way Rosehill Estate Carlisle CA1 2RW
Dodd & Co Audit Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
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27 Lake District Foundation Annual Report 2023/24
Statement of Financial Activities for the Year Ended 31 March 2024
| Income and endowments from: Donations and legacies Charitable activities Investment income Other income |
Note Unrestricted funds(£) Restricted Funds(£) Total Funds 2024(£) Total Funds 2023(£) |
|---|---|
| 2 3 4 5 146,234 1,175 5,071 5,000 1,059,872 - - - 1,206,106 1,175 5,071 5,000 1,051,429 1,200 1,178 - |
|
| Total income | 157,480 1,059,872 1,217,352 1,053,807 |
| Expenditure on: Raising funds Charitable activities |
72,559 93,732 1,827 1,067,584 74,386 1,161,316 30,512 1,070,054 |
| Total expenditure | 166,291 1,069,411 1,235,702 1,100,566 |
| Net outgoing resources before transfers Transfers Gross transfers between funds |
(8,811) 19,119 (9,539) (19,119) (18,350) - (46,759) - |
| Net movements in funds Reconciliation of funds Total funds brought forward |
10,308 333,103 (28,658) 53,264 (18,350) 386,367 (46,759) 433,126 |
| Total funds carried forward | 343,411 24,606 368,017 386,367 |
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28 Lake District Foundation Annual Report 2023/24
Balance Sheet as at 31 March 2024
| Fixed assets Investments Current assets Debtors Cash at bank and in hand |
Note 2024 2024 2023 2023 |
|---|---|
| 12 13 66,597 464,218 1 99,553 333,970 1 |
|
| Creditors: Amounts fallingdue within oneyear |
14 530,815 (162,799) 433,523 (47,157) |
| Net current assets | 368,016 386,366 |
| Net assets | 368,017 386,367 |
| The funds of the charity: Restricted funds Unrestricted funds Unrestricted income funds |
24,606 343,411 53,264 333,103 |
| Total charityfunds | 368,017 386,367 |
The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Approved by the Board on 15 October 2024 and signed on its behalf by:
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P Hensman Trustee
Cash Flow Statement for the year ended 31 March 2024
| Cash Flow Stat | eme | ntfor | the ye |
|---|---|---|---|
| Note | 2024 | 2023 | |
| Net cash flow from operatingactivities | 16 | 130,248 | (58,202) |
| Increase/(decrease) in cash | 130,248 | (58,202) |
The notes on pages 30 to 41 form an integral part of these financial statements.
29 Lake District Foundation Annual Report 2023/24
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Notes to the Financial Statements for the Year Ended 31 March 2024
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
These financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast doubt on the ability of the Charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
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 18.
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.
Income from Government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
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.
Income from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate.
Online shop income is recognised as earned (that is, as the related goods or services are provided).
Investment income is recognised on a receivable basis.
30 Lake District Foundation Annual Report 2023/24
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Expenditure
Cash and Cash Equivalents
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.
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.
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.
Investments
Fixed asset investments are included at cost less impairment at the balance sheet date.
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.
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.
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.
31 Lake District Foundation Annual Report 2023/24
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2. Donations and Legacies
Of the donations and legacies income in 2023, £18,635 related to unrestricted funds and £118,500 related to restricted funds.
Of the grants received in 2023, £42,000 related to unrestricted funds and £872,294 related to restricted funds.
| Donations and legacies Legacies and bequests Appeals and donations Gift Aid tax reclaimed |
Unrestricted funds(£) Restricted Funds(£) Total Funds 2024(£) Total Funds 2023(£) |
|---|---|
| 77,501 26,070 2,663 - 86,019 6,365 77,501 112,089 9,028 - 130,893 6,242 |
|
| 106,234 92,384 198,618 137,135 |
|
| Grants UK Government grants Environment Agency Lake District National Park Authority The National Trust Natural England United Utilities European Regional Development Fund Swire Charitable Trust Catherine Cookson Charitable Trust Alpkit Foundation Robert Clutterbuck Charitable Trust Northern Gas Network Forest Futures Ernst Kleinwort D’Oyly Carte Charitable Trust Cumbria Community Fund National Lottery Heritage Fund Cumbria Woodlands Tokyo University DWF Foundation Westmorland & Furness Council Booking.com The William Dean Countryside & Educational Trust Michael Marks Charitable Trust Grocers’ Hall Charitable Trust National Farmers’ Union - - 10,000 10,000 - 20,000 - - - - - - - - - - - - - - - - - - - - - 54,941 3,500 15,958 49,999 10,500 575,501 10,000 985 500 1,000 19,060 - - - - 191,399 - 10,120 - 14,175 2,030 750 2,800 2,520 1,750 - 54,941 13,500 25,958 49,999 30,500 575,501 10,000 985 500 1,000 19,060 - - - - 191,399 - 10,120 - 14,175 2,030 750 2,800 2,520 1,750 25,843 43,680 12,000 23,158 - 20,000 462,722 10,000 - - - 19,060 124,749 4,728 4,000 9,781 135,023 3,000 15,300 1,250 - - - - - - |
|
| 40,000 967,488 1,007,488 914,294 |
|
| 146,234 1,059,872 1,206,106 1,051,429 |
32 Lake District Foundation Annual Report 2023/24
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3. Charitable Activities
| Unrestricted | Restricted | Total Funds | Total Funds | |
|---|---|---|---|---|
| funds(£) | Funds(£) | 2024(£) | 2023(£) | |
| Charitable activities | ||||
| Sales of donated goods | 1,175 | - | 1,175 | 1,200 |
All of the charitable activities income in 2023 related to unrestricted funds.
4. Investment Income
| 4. Investment Income | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |
| funds(£) | Funds(£) | 2024(£) | 2023(£) | |
| Investment income | ||||
| Interest on cash deposits | 5,071 | - | 5,071 | 1,178 |
All of the investment income in 2023 related to unrestricted funds.
5. Other Income
| . | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |
| funds(£) | Funds(£) | 2024(£) | 2023(£) | |
| Other income | ||||
| Consultancy income | 5,000 | - | 5,000 | - |
All of the investment income in 2023 related to unrestricted funds.
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33 Lake District Foundation Annual Report 2023/24
6. Expenditure
| Direct costs Grants payable Project expenditure Gateway fees and other fundraising costs Wages and salaries Staff NIC (Employers) Staffpensions |
Fundraising activites(£) Project Costs (£) Total 2024 (£) Total 2023 (£) |
|---|---|
| - - 21,959 42,426 3,348 1,588 663,268 140,969 2,575 290,208 22,900 10,861 663,268 140,969 24,534 332,634 26,248 12,449 493,049 295,210 17,063 237,665 17,987 7,218 |
|
| 69,321 1,130,781 1,200,102 1,068,192 |
|
| Support costs Staff training Wages and salaries Staff NIC (Employers) Staff pensions Rent and rates Insurance Telephone and fax Computer software and maintenance costs Printing, postage and stationery Membership and subscriptions Accountancy fees Audit fees Bank charges 1,053 1,140 90 43 85 334 246 1,231 74 170 589 - 10 5,525 5,987 472 226 444 1,755 1,290 6,460 391 891 3,094 3,950 50 6,578 7,127 562 269 529 2,089 1,536 7,691 465 1,061 3,683 3,950 60 4,480 7,753 587 236 260 1,645 704 7,285 145 911 4,346 3,950 72 |
|
| 5,065 30,535 35,600 32,374 |
|
| 74,386 1,161,316 1,235,702 1,100,566 |
Of the expenditure in 2023, £30,512 related to unrestricted funds and £1,070,054 related to restricted funds
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34 Lake District Foundation Annual Report 2023/24
7. Grants made
9. Trustees’ remuneration and expenses
| 7. Grants made | ||
|---|---|---|
| 2024 | 2023 | |
| (£) | (£) | |
| Institutions | ||
| Lake District National Park Authority | 103,606 | 70,176 |
| Spring to Sea | - | 4,750 |
| Cumbria Rivers | - | 5,000 |
| Cumbria Woodlands | 2,375 | 5,000 |
| SENS | - | 3,250 |
| Ulverston Ford Park Community Group | - | 2,500 |
| Greystone Land Hedge | - | 2,500 |
| Mire Head View | - | 2,097 |
| Northumberland Wildlife Red Squirrels | 45 | - |
| European Regional Development Fund (ERDF) grants paid | 542,242 | 392,190 |
| Freshwater Biological Society | 15,000 | - |
| Other Grants < £2,000 | - | 5,586 |
| 663,268 | 493,049 |
During the year 1 trustee was reimbursed a total of £88 for travel expenses incurred. (2023: £147)
10. Employees’ remuneration
The monthly average number of persons (including senior management) employed by the charity during the year was as follows:
| Charitable activities | 2024 (No.) 2023 (No.) |
|---|---|
| 11 10 |
The aggregate payroll costs of these persons were as follows:
Of the £103,606 granted to the Lake District National Park Authority in the year, £67,184 relates to the Fix the Fells project, and £36,422 relates to Sponsor the Lake District Fund.
8. Governance costs
| Accountancy fees Audit fees |
2024 (£) 2023 (£) |
|---|---|
| 3,683 3,950 4,346 3,950 |
|
| 7,633 8,296 |
| Wages and salaries Social security Other pension costs |
2024 (£) 2023 (£) |
|---|---|
| 339,761 26,810 12,718 245,418 18,574 7,454 |
|
| 379,289 271,446 |
No employee received emoluments of more than £60,000 during the year. Total employee benefits paid to key management personnel of the charity were £92,809 (2023 - £90,741).
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35 Lake District Foundation Annual Report 2023/24
11. Taxation
The registered charity is exempt from taxation on income and gains.
12. Investments held as fixed assets
13. Debtors
| 13. Debtors | |
|---|---|
| Trade debtors Prepayments and accrued income |
2024 (£) 2023 (£) |
| 5,000 61,597 - 99,553 |
|
| 66,597 99,553 |
Investments in group and associated undertakings
| Investments in group and associated undertakings |
|
|---|---|
| Market value | |
| As at 1 April 2023 and 31 March 2024 | 1 |
| Net book value | |
| As at 31 March 2024 | 1 |
| As at 31 March 2023 | 1 |
All investment assets were held in the UK.
The charity holds more than 20% of the share capital of the following company:
14. Creditors: Amounts falling due within one year
| Trade creditors Accruals and deferred income |
2024 (£) 2023 (£) |
|---|---|
| 10,210 152,589 4,098 43,059 |
|
| 162,799 47,157 |
| Subsidiary undertakings | Country of incorporation | Principal activity | Class | % |
|---|---|---|---|---|
| Nurture Tourism Limited | England and Wales | Dormant | Ordinary | 100 |
15. Pension scheme
| Subsidiary undertakings Nurture Tourism Limited |
Capital & reserves(£) Profit/loss for the period(£) |
|---|---|
| 1 - |
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 £12,718 (2023 - £7,454).
There were no outstanding or prepaid contributions at either the beginning or end of the financial year.
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36 Lake District Foundation Annual Report 2023/24
16. Reconciliation of net movements in funds to operating cash flows
| Net outgoing resources Decrease/(increase) in debtors Increase in creditors |
2024 (£) 2023 (£) |
|---|---|
| (18,115) 30,373 117,990 (46,759) (54,086) 42,643 |
|
| Net cash inflow/(outflow) from operatingactivities 130,248 (58,202) |
17. Related parties
Controlling entity
The charity is controlled by the trustees.
Related party transactions
Core partner funding received from related parties during the year were as follows:
| Partner | Director/Executive | 2024(£) | 2023(£) |
|---|---|---|---|
| National Trust | M Innerdale | 23,158 | 23,158 |
| Lake District National Park Authority | Dr R N Leafe | 15,000 | 12,000 |
| Environment Agency | J Ratcliffe | 54,441 | 42,391 |
| United Utilities | G Murphy | 20,000 | 20,000 |
Other businesses contribute money collected from visitors and the following have senior staff who serve on the board of trustees:
| Partner | Director/Executive | 2024(£) | 2023(£) |
|---|---|---|---|
| Lake District Estates Company Limited P Hensman | - | 1,460 | |
| Langdale Leisure Limited | D Visser | - | 11,937 |
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 £103,626 (2023: £65,176) being granted from the charity during the year.
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37 Lake District Foundation Annual Report 2023/24
| 18. Analysis of funds | |||||||
|---|---|---|---|---|---|---|---|
| At 1 April | Incoming | Resources | Transfers | At 31 March | |||
| 2023(£) | resources(£) | expended(£) | (£) | 2024(£) | |||
| General Funds | |||||||
| Unrestricted income fund | 333,103 | 157,480 | (166,291) | 19,119 | 343,411 | ||
| Restricted Funds | |||||||
| Lake District National Park Authority’s ‘’Sponsor the National Park’’ | 47 | 46,579 | (37,310) | (9,316) | - | ||
| Fix the Fells | 20,053 | 56,706 | (67,982) | (8,777) | - | ||
| Red Squirrels | - | 60 | (48) | (12) | - | ||
| The Real Hedge Fund | 3,429 | 2,570 | (55) | (514) | 5,430 | ||
| Lakes Distillery Fund | - | 482 | (52) | (96) | 334 | ||
| Environment Agency Fund | - | 15,000 | (15,000) | - | - | ||
| Environment Agency’s Natural Environment Investment Readiness | - | 39,441 | (39,441) | - | - | ||
| Fund (NEIRF) | |||||||
| European Regional Development Fund (ERDF) | - | 575,501 | (575,501) | - | - | ||
| Northern Gas Network Fund | - | 19,060 | (19,060) | - | - | ||
| Love Your lakes Fund | 29,735 | 29,542 | (40,031) | (404) | 18,842 | ||
| National Lottery Heritage - Trees Call for Action Fund (TCAF) | - | 191,399 | (191,399) | - | - | ||
| Tokyo University | - | 10,120 | (10,120) | - | - | ||
| The National Trust | - | 13,158 | (13,158) | - | - | ||
| Westmorland & Furness Council | - | 8,225 | (8,225) | - | - | ||
| Booking.com | - | 2,030 | (2,030) | - | - | ||
| Natural England | - | 49,999 | (49,999) | - | - | ||
| 53,264 | 1,059,872 | (1,069,411) | (19,119) | 24,606 | |||
| 386,367 | 1,217,352 | (1,235,702) | - | 368,017 | |||
| 38 Lake District Foundation Annual Report 2023/24 |
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Lake District National Park Authority’s “Sponsor the National Park”
This fund supports the LDNPA in caring for the National Park. Income is raised in partnership with the Authority and distributed biannually for maintenance and conservation activities. This fund also includes donations received to sponsor furniture like bridges and signage.
Northern Gas Network Fund
This fund raises awareness about the dangers of carbon monoxide (CO) poisoning and includes a social media campaign and survey collection.
Love Your Lake
Fix the Fells
This fund supports the Fix the Fells Partnership, dedicated to repairing upland footpaths in the Lake District. Donations and grants are used to maintain these vital walking routes.
Red Squirrels
This fund is for donations and grants dedicated to Red Squirrel conservation. The work is primarily carried out by partner organisations and community groups.
The Real Hedge Fund
This fund supports the Real Hedge Fund Project, which focuses on hedgerow conservation and restoration through donations and grants.
Communications & engagement role to support the Love Windermere Partnership which is involved a variety of funding sources: fundraising for cleanup campaigns on Lake Windermere and other lakes within the National Park. Contributions to this fund were; United Utilities, Environment Agency, Westmorland & Furness Council, The National Trust, National Farmers Union & Lake District National Park Authority.
Trees Call for Action Fund (TCAF) – National Lottery Heritage Fund
This fund supports England Trees Action Plan by protecting trees and woodlands, boosting forestry skills, creating partnerships and engaging communities with nature. The project, Woodland Futures, focuses on woodland creation and management across Cumbria.
Tokyo University
Lakes Distillery Fund
This fund is dedicated to projects that enhance and conserve water quality in the Lake District’s lakes and rivers.
This fund manages income and expenses for a course called “Sustainable Tourism in the Lake District,” run in partnership with Tracey Gannon of Hidden Lakeland.
The National Trust
Environment Agency Fund
This funding supports the delivery of promoting the maintenance of healthy water bodies and to promote actions like septic tank awareness and greener boating. It also includes funds for producing and distributing information packs to local residents about managing off-mains sewage systems.
Environment Agency’s
This grant supports LDF’s fundraising activities for the Fix the Fells project, helping to maintain and protect the Lake District’s footpaths.
Westmorland & Furness Council
Sustainable Farming Grant fund to employ a farm liaison officer to work directly with farmers in the Windermere catchment. To support local farmers to tackle climate change, support nature recovery and ensure a fair transition to a low carbon future for our communities.
Natural Environment Investment Readiness fund (NEIRF)
A fund to create a data dashboard for the Love Windermere Environmental Bond prospective & community septic tank emptying scheme.
Booking.com
The sustainable grant fund is designed to support small accommodation providers based in Cumbria to implement more sustainable business projects and practices.
European Regional Development Fund (ERDF)
As part of the Low Carbon Lake District programme, our grant scheme helped organisations reduce their carbon footprints through energy efficiency improvements or by creating renewable energy solutions.
Natural England
Commissioned to undertake a research report to explore community and business appetite to contribute to the Coast to Coast path and King Charles III England Coast Path National Trails.
39 Lake District Foundation Annual Report 2023/24
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Prior period
| General Funds Unrestricted income fund |
Incoming resources(£) At 1 April 2022(£) Resources expended(£) Transfers (£) At 31 March 2023(£) |
|---|---|
| 63,013 289,551 (39,015) 19,554 333,103 |
|
| Restricted Funds Lake District National Park Authority’s ‘’Sponsor the National Park’’ Fix the Fells Red Squirrels The Real Hedge Fund Lakes Distillery Fund Forest Futures - National Lottery Heritage Fund Green Recovery Challenge Environment Agency European Regional Development Fund (ERDF) Northern Gas Network Love Your Lake Fund Cumbria Community Foundation Trees Call for Action Fund Independent Enquiry Child Sexual Abuse Tokyo University The National Trust Cumbria Woodlands |
50,206 53,535 175 1,247 - 124,746 43,680 463,257 19,060 32,780 9,781 135,023 25,843 15,300 13,158 3,000 1,178 - - 12,636 25,000 100,261 4,500 - - - - - - - - - (34,588) (33,482) (139) (10,201) (25,000) (225,010) (48,180) (463,257) (19,060) (529) (9,781) (135,023) (25,843) (15,300) (13,158) (3,000) (16,749) - (36) (253) - - - - - (2,516) - - - - - - 47 20,053 - 3,429 - - - - - 29,735 - - - - - - |
| 990,794 143,575 (1,061,551) 19,554 53,264 |
|
| 1,053,807 433,126 1,100,566 - 386,367 |
40 Lake District Foundation Annual Report 2023/24
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19. Transfers
The following amounts have been transferred from restricted funds to the unrestricted fund representing a 20% contribution to running costs:
LDNPA: £9,316 Fix the Fells: £8,777 Red Squirrels: £12 Real Hedge Fund: £514 Love Your Lake: £404 Lakes Distillery: £96
20. Net assets by fund
| 20. Net assets by fund | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |
| funds(£) | Funds(£) | 2024(£) | 2023(£) | |
| Investments | 1 | - | 1 | 1 |
| Current assets | 506,209 | 24,606 | 530,815 | 433,523 |
| Creditors: Amounts fallingdue within oneyear | (162,799) | - | (162,799) | (47,157) |
| Net assets | 343,411 | 24,606 | 368,017 | 386,367 |
| Prior period | Unrestricted | Restricted | Total Funds | Total Funds |
|---|---|---|---|---|
| funds(£) | Funds(£) | 2023(£) | 2022(£) | |
| Investments | 1 | - | 1 | 1 |
| Current assets | 380,259 | 53,264 | 433,523 | 437,639 |
| Creditors: Amounts fallingdue within oneyear | (47,157) | - | (47,157) | (4,514) |
| Net assets | 333,103 | 53,264 | 386,367 | 433,126 |
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41 Lake District Foundation Annual Report 2023/24
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Contact us
Lake District Foundation, Unit 4, Wayfaring House, Murley Moss Business Park, Oxenholme Road, Kendal, Cumbria LA9 7RL
info@lakedistrictfoundation.org
The Lake District Foundation a charity registered in England and Wales ~~w~~ i ~~t~~ h the charity number 1174201, and is regis ~~te~~ red with the Fundraising Regulator.
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