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← Lake District Foundation

2025-03-31-accounts

Lake District Foundation r4 lakedistri¢tfoundation.org f @ lakedistrictfoundation X lakesfoundation R•9￿1+1ed with lakedistrictfoundation.org FUNDRAISING REGULATOR WORLD HERITAGE SITE

A year of action for the Lake District

This year, we’ve stayed focused on our mission: to support a Lake District that is thriving – for nature, for people and for the future. Every project we fund is guided by a simple principle: this is a world-class landscape that deserves world-class care. That means respecting its natural beauty, valuing its cultural heritage and supporting the people who live, work and visit here.

2024/25 has brought major progress. The challenges facing the Lake District are urgent - climate change, biodiversity loss and the growing pressures of high visitor numbers. We’ve channelled funding into projects that address these issues head-on. Whether it’s improving water quality in Windermere, restoring woodland habitats or helping communities adapt to a changing climate, our focus has been on impact that lasts.

We know we can’t do this alone. The scale of the task demands collaboration. Our success this year has been built on partnerships – with businesses, farmers, landowners, volunteers, scientists and local communities. Together, we’ve delivered work that balances the needs of people and nature and makes a real difference on the ground.

This report shares what your support has made possible. From tree planting to supporting businesses cut carbon, the outcomes are visible and measurable. Every donation, every conversation, every action is helping shape a more resilient future for the Lake District. Thank you for being part of this journey. Let’s keep going.

Lak Dis Founda The charity for th

Chair’s report

As the charity for the Lake District, we are proud to lead work that supports and strengthens this unique and globally recognised place. The Lake District Foundation exists to drive positive change across the National Park and wider World Heritage Site - ensuring it remains a place where nature, heritage and communities continue to flourish.

This year we have delivered a diverse and ambitious portfolio of projects. From tackling climate impacts and improving water quality to promoting low-carbon visitor experiences and supporting nature recovery, we have remained focused on delivering long-term benefit for the landscape and those who depend on it.

In challenging economic conditions, the team has been agile, strategic and forwardthinking. We have built purposeful partnerships, expanded our reach and secured funding for work that brings real environmental, social and economic value to the Lake District.

Our latest independent examination, confirms strong financial governance and provides assurance that the Foundation continues to manage resources responsibly and transparently.

Our strength lies in collaboration - with communities, businesses, landowners and decisionmakers all playing a role. I would like to thank my fellow trustees and the Foundation team for their professionalism, energy and commitment over the past year.

Looking ahead, we will continue to connect people and investment to the Lake District’s future-supporting thriving places, resilient landscapes and a shared sense of responsibility for this extraordinary place.

Keith Ashcroft Chair of the Board of Trustees Lake District Foundation

Water Climate Inclusion Heritage Nature

At a glance

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27 Bespoke
Invest Lake
Nutrient
District launched
Management
£38,360 raised for Plans
new bridges and
@
signs
£121,014 raised
for Fix the Fells
35 farmers
S supported to carry a)
out on-farm soil
£61,906 raised for
testing
new reedbeds
around Windermere
Forest Festival
delivered
£5,120 paid out
in grants for
500k+ people
reached digitally hedgerow Collaboration
creation
with 17
underrepresent
ed groups
1538 donations
714 hectares covered in
received from
Windermere Farming
individuals
projects
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Inclusion

A Lake District for everyone. Promoting diversity, inclusion and accessibility

Everyone should have the opportunity to experience the beauty of the Lake District and Cumbria.

To ensure equity, diversity and inclusion are at the heart of our work, we launched our Lake District for Everyone project. We partnered with 17 groups to understand the barriers people face in accessing the National Park.

We are committed to supporting underrepresented communities – including minority ethnic groups, people with disabilities, LGBTQIA+ people, and those experiencing economic disadvantage. We know this list is not exhaustive, and we are always open to working with and learning from anyone, regardless of background or identity.

This was the start of something. I would love to do it more!

This has been a very humancentred, compassionate, and accessible process. Thank you!

Inclusion-Listening, learning and leading

This year, we piloted a bold, community-led approach to understand what visiting the Lake District means for a diverse range of people. We broke away from standard written applications, designing a more accessible process that provided £2,000 grants to groups. This enabled them to visit the National Park and share their experiences in whatever way suited them best.

The next stage of this project is to gather feedback from another 8 groups, and then to analyse the feedback and create a plan of action for the Lake District Foundation and our partners. Initial feedback suggested that volunteering opportunities need to be available at weekends and evenings in order to attract a range of people, and we have already made changes to our grant making and project plans to reflect this.

We believe this is the first time such a broad and inclusive consultation has taken place here, putting equity and lived experience at the heart of our work.

In Autumn 2024, nine groups took part, giving honest feedback and enriching us with their reflections and stories. The most common benefit was the inspirational ripple effect: supporting groups to visit not only created powerful shared experiences, but also encouraged many individuals to return independently and explore more of the Lake District for themselves.

Some young people have moved here recently for work and they wouldn't know how to get to the Lake District and need confidence to go, until this trip. It has influenced the parents and other families.

Many of our members reported a greater sense of belonging and connection to the outdoors and the funding will hopefully lead to sustainable impact as members become more motivated and inspired to get outdoors more and lead their own activities. a

Raising awareness of carbon monoxide in the outdoors

The Lake District Foundation is working with partners to raise awareness of carbon monoxide (CO) risks in outdoor settings, particularly among campers, caravanners, and motorhome users.

Through this project, we distributed essential safety information across campsites, visitor centres, and online platforms, helping people stay safe while enjoying the Lake District. With increased use of gas stoves, barbecues, and portable heaters, the risk of CO poisoning is real - especially in enclosed spaces like tents or vehicles.

By raising awareness and promoting safe practices, we’re helping to prevent accidents and ensure that everyone can enjoy the outdoors safely. Thank you to Northern Gas for funding this project.

15k+ people reached

We attended Solfest and provided 40 carbon monoxide alarms

Water

Restoring and maintaining cleaner lakes for all to enjoy

Water in the Lake District should be clean.

To protect this vital resource, we continue our work on improving water quality across the region.

Through initiatives such as ‘Love Windermere’, we collaborate with scientists, local communities and businesses to tackle pollution and safeguard our lakes, rivers and waterways.

We believe clean water benefits everyone. From swimmers and paddleboarders to wildlife and local communities, protecting our water means protecting the future of the Lake District.

£61k raised through the Big Give

to create new reedbeds

35 farmers provided with free soil testing and nutrient management plans will reduce runoff into the lake

15k reached with digitally with water quality advice

Call of Nature: Preventing pollution in our rivers and lakes

The Call of Nature is the campaign to prevent pollution in our rivers and watercourses, caused by poorly maintained offmains sewage systems.

It may not be glamorous, but if we don’t look after our septic tanks, cesspits and package sewage treatment plants, they’ll start to fail. This means they’ll start to smell, spread disease to humans and animals, pollute our local rivers and seas. And nobody wants that.

I just wanted to say a huge thank you to you for giving us the most inspiring presentation about looking after our water. It really made our Science Week and has inspired lots of little minds. The feedback from children and staff has been fantastic.

This year we have worked with communities, residents, visitors and business in the Windermere catchment to share practical and accessible information about how to manage our drainage systems, thanks to funding from the Environment Agency.

The campaign was so successful that it was replicated in the Eden catchment area thanks to funding from the Lake District National Park Authority.

Fix the Fells

The Lake District Foundation is a proud partner and fundraiser for Fix the Fells, a vital project caring for the upland paths of the Lake District. With millions visiting the fells each year, footpath erosion threatens fragile habitats and the beauty of this special landscape. Fix the Fells repairs and maintains over 400 miles of upland paths, protecting the delicate balance between access and conservation. The skilled repair and maintenance work reduces soil erosion and sediment run-off into watercourses, improving the water quality in our lakes and rivers. Through fundraising and partnership, we help ensure these paths remain sustainable for future generations of walkers, runners, and nature lovers.

Over £121,014 raised for Fix the Fells 24/25

The Big Give in December raised over £30,000 in 1 week

410 miles of upland footpath maintained every year

A heartfelt thank you to Montane for their generous support of Fix the Fells. Your donation helps care for the Lake District’s upland paths, protecting fragile landscapes and ensuring that everyone can continue to enjoy the fells for years to come.

Nature

Supporting rich biodiversity to create thriving ecosystems

We work to protect it because healthy landscapes support wildlife, absorb carbon and provide space for people to connect with the natural world.

Nature underpins everything we value in the Lake District-from clean air and water to the beauty that draws millions each year. Protecting nature is not just about conservation. It's about securing the future of the places we love. We welcome everyone who shares this belief.

709 hectares of new woodland expected to be created by 2030 thanks to Woodland Futures advice

Reedbed restoration underway across 600m2 along the shores of Lake Windermere

Over 1000m of hedgerow planted to date, providing a range of benefits from connected habitats to soil stability, improved water quality to supporting heritage skills

Reedbed Revival:

Partnerships working for

nature

Real Hedge Fund

The Real Hedge Fund continues to make a lasting impact across Cumbria, supporting farmers, landowners, and communities to restore and plant hedgerows - vital habitats for wildlife and natural corridors that weave through our landscapes.

By investing in hedgerows, we’re not just planting boundaries-we’re strengthening nature’s lifelines, supporting pollinators, birds, and mammals, and enriching the landscape for generations to come. Thanks to the generosity of donors and the dedication of local landowners, the Real Hedge Fund continues to grow, one hedge at a time.

Thank you to Bath House who raised £1,550 for the Real Hedge Fund

The Reedbed Revival project, delivered in partnership with South Cumbria Rivers Trust, is a shining example of how collaboration drives meaningful change for nature and for people. Together, we are restoring and protecting reedbeds - vital habitats that support a rich diversity of wildlife and play a key role in improving water quality across the region.

Reedbeds are natural filters, helping to trap sediments, absorb nutrients, and reduce pollution entering our lakes and rivers. They also provide essential breeding and feeding grounds for species such as bitterns, otters, and dragonflies.

Through this project, we have combined knowledge, skills, and resources to accelerate conservation efforts and deliver lasting benefits for the environment.

Partnerships like these are essential for tackling complex environmental challenges. We are proud to celebrate the progress made, thanks to the dedication of our partners, funders, and supporters.

Woodland Futures: Growing woodlands, growing knowledge

Delivered by Cumbria Woodlands, the Woodland Futures project has supported land managers across Cumbria to plant new woodlands and improve the management of existing ones-benefiting nature, communities, and the local economy.

Between 2022 and 2025, the project:

Provided advice on over 1,800 hectares for woodland creation and 3,600 hectares for woodland management

Helped land managers develop 110 financial plans and delivered 34 enterprise support sessions to grow woodland-based businesses

Delivered over 40 training courses and engaged nearly 7,800 people both online and in person, empowering landowners with practical skills and knowledge

Hosted two Forest Festivals, attracting over 4,500 visitors, connecting communities with woodland culture and conservation

Brought together public, private, and third-sector partners through the Cumbria Tree Action Plan Delivery Forum

This has been a very successful project, delivered to a high standard by professional, knowledgeable, and dedicated staff.

Thanks to the dedication of the Cumbria Woodlands team, and support from the National Lottery Heritage Fund, Woodland Futures has planted the seeds for lasting change

The advice I received opened up possibilities I hadn’t considered before. It gave me the confidence to take the next step.

Heritage

Recognising, celebrating, and supporting our cultural heritage

To care for this world-class cultural landscape, we continue our work to protect and celebrate the rich heritage of the Lake District.

Through projects like Woodland Futures, Reedbed Revival, and partnerships with local communities and experts, we help preserve historic landscapes, traditional skills, and cultural landmarks that define this special place.

We believe heritage is for everyone. From dry stone walls and hedgerows to ancient woodlands and working farms, safeguarding the Lake District’s heritage means securing its story for future generations.

Farming in Protected

Landscapes

Farming is integral to the cultural heritage of the Lake District, shaping both the landscape and the communities who call it home. But farming practices also directly impact the health of our lakes, rivers, meres, and tarns.

This year, we’ve strengthened our partnership with local farmers in the Windermere Catchment to promote sustainable practices that benefit both land and water. Thanks to funding from Westmorland and Furness Council and the Farming in Protected Landscapes Scheme, we delivered a free nutrient soil testing programme supporting farmers to understand their soil health, reduce nutrient runoff, and enhance water quality across the catchment.

We’re proud to share that 35 farmers and land managers - covering over 60% of the Windermere Catchment signed up for this initiative, taking important steps to protect water resources while continuing to nurture the land. Another unexpected impact of this project was increased wellbeing thanks to sociable events and networking opportunities. Listening to feedback from farmers, we were able to secure additional funding in order to deliver bespoke training events around finance for farmers.

I was able to access resources I didn't even know where available. Pip Simpson, Poole Bank Farm

Mark the Way

Through our partnership with the Lake District National Park Authority, we offer individuals and businesses the opportunity to sponsor signposts and bridges across the National Park.

These features are vital for helping visitors navigate the landscape safely and sustainably. Sponsorship helps fund the ongoing maintenance and repair of these important structures, ensuring they remain in place for generations to come.

By sponsoring a signpost or bridge, supporters can celebrate their connection to the Lake District while directly contributing to the care of this iconic place.

38k+ raised for new signs and bridges

Climate

Leading climate action to protect the environment

The Lake District Foundation is committed to addressing the impacts of climate change on this unique landscape and its communities.

Through a range of projects, from woodland creation to promoting nature-friendly farming, we support efforts that capture carbon, build resilience, and help the Lake District adapt to a changing climate.

By working with local partners, land managers, and communities, we’re driving practical action on the ground-helping to safeguard the natural beauty, biodiversity, and cultural heritage of the Lake District for future generations.

Secured and distributed £25,000 from Booking.com to enable small local accommodation providers to reduce the environmental impact of their businesses

As chair and member of the Zero Carbon Cumbria Partnership we ensure opportunities are shared, and efforts are coordinated

In 2024-25, for the first time, we conducted a full audit of our organisational carbon footprint and immediately began work on reducing the impact of our events and purchasing

Accomodation providers go green

In 2024-2025 we launched a grant fund designed to support accommodation businesses in Cumbria to improve their environmental performance.

Thanks to funding from Booking.com, we were able to offer grants of 50% of project costs up to a maximum of £2,000 per project. So far we have supported 12 projects including installation of EV chargers for guest use, replacing inefficient gas ovens with electric ovens that can make use of solar power, improved insulation, and replacing a large tarmac driving with permeable surface that will reduces rain water runoff.

The changes made will reduce the running costs of business operations, reduce their carbon footprint and in many cases will improve the experiences of staff and guests. So far the project has unlocked a further £39,813 in private investment and has bolstered the local green economy.

The LDF acted as a trusted and efficient grant maker, able to understand the opportunities available and the practical challenges that businesses face.

This grants has enabled us to remove gas entirely from our business, a key goal in our net zero journey.

Zero Carbon Cumbria

Our CEO Sarah Swindley now chairs the strategic oversight board for Zero Carbon Cumbria, leading a partnership of anchor organisations to decarbonise, mobilise community groups and ensure that partners plans contain a clear commitment to net zero. This includes local authorities, health, education and business. This work will continue to be vital as we transition to a mayoral combined authority.

Our Carbon Journey

In 2024-2025 we conducted our first ever carbon audit of the Lake District Foundation’s core operations. We hope that following this process will identify our priorities for action, demonstrate our commitment to net zero by 2037, and give confidence and transparency to our donors, funders, grantees and partners.

We worked with a local organisation who supported us to accurately measure our carbon footprint and provided an online portal where we now manage all of our actions.

Our carbon footprint intensity was 19.3 tonnes CO2e / £m turnover and our priority areas for improvement were procurement, events and travel. We have now updated our procurement policy and practises to reflect our ambitions and we have organised several events that served no meat or dairy, and offered and incentivised sustainable transport options.

We look forward to re-calculating our footprint this year and going further with our actions. We also have ambitious plans to measure and evaluate the carbon footprint of the projects we fund too.

How we work:

Fund

Vision: A sustainable and thriving Lake District and Cumbria that is climate resilient, rich in biodiversity, home to vibrant communities, celebrates its culture and is welcoming to all.

Collaborate a XN Inspire

Mission: To fund, collaborate and inspire positive action to support nature, culture, heritage and people in the Lake District.

Business supporters

£88,777 raised

We extend our heartfelt thanks to the many businesses who support the Lake District Foundation. Your generosity, partnership, and commitment help fund vital projects that protect the landscapes, heritage, and communities of the Lake District and Cumbria. Whether through donations, fundraising initiatives, sponsorship, or collaboration, your support drives real impact-from restoring habitats and reducing carbon emissions to safeguarding cultural landmarks.

Community supporters

£152,301 raised

We are incredibly grateful to our ambassadors, trustees and community supporters who give their time, energy and expertise to the Lake District Foundation. Your passion and commitment drive our work forward-whether through championing our cause, guiding our strategy, or supporting projects on the ground. Thank you!

We are proud to shine a light on Thao, one of our dedicated Lake District Foundation Ambassadors. With a passion for the Lake District and a wealth of digital expertise, Thao supports the Foundation by helping to grow our digital presenceand marketing reach.

Hannah Towers, our Farm Liaison Officer, plays a vital role in supporting the Foundation’s community work with farmers. With her deep understanding of farming and rural life, Hannah helps build strong relationships, encouraging sustainable practices that benefit both the land and local communities.

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As a dedicated supporter of the Foundation, Tom not only A ! 4 . raises awareness through his ‘ inspiring outdoor adventures 4 ‘ but also generates income for our work through his business 4 \ and website.

By sharing his love for the fells, footpaths and wild spaces of the Lake District.

£543,042 raised Trusts and Grant support

Trusts, Foundations and Grant makers give to the Lake District Foundation because they share our passion for the Lake District and Cumbria. Where our goals align we bring the grantmakers’ vision of a sustainable, equitable and greener future to life. Building a long term, multi-year funding relationship with our partners is the life blood of the Lakes. We cannot thank you enough.

Grants power real change-restoring habitats, protecting wildlife, and backing communities. They give us the confidence to plan big, act fast and deliver lasting impact for the Lake District and Cumbria.

“The Calisen Impact Charitable Trust provides financial support to initiatives that champion and deliver sustainable energy solutions and to foster inclusive, safe, and diverse educational and work environments. We aim to drive economic and social development tailored to the needs of the communities in which we work and live. So, you can imagine our delight when we saw the Lake District Foundation’s grant application for their project Fix the Fells – it aligns with our vision perfectly! The Calisen Impact Charitable Trust can clearly see the long-term benefits of this project, including improved biodiversity, reduced environmental degradation, and enhanced access for visitors.”

Chloe Fearn-Rice-Corporate Finance Associate

Lake District Foundation ue tas io io e Registration number: 1174201 ; as ) ayBindoom olE +wvay Annual Report and Financial SSge iefie) Statements : 42 yeeae |

Reference and Administrative Details Charlty name Lake District Foundation Trustees fvl Innerdale K Ashcroft, Chalr Charity registratlon number 1174201 Dr R N Leafe (Resigned 15 October 2024) Prlnclpal offlce Lake District Foundation Murlev Moss Business Parl Oxenholme Road KENDAL LA9 7RL P Hensman AAirey G Haigh M Hartnett (Resigned 15 October 2024) Reglstored offlce Lake District Foundation Murley Moss Business Parl Oxenholme Road KENDAL LA9 7RL D Vlsser DGBooth R A Bracewell (fv4)pointed 26 February 2025) (Appointed 26 February 2025) J A Mills S L Nicol (Appointed 26 February 2025) (Appointed 26 Febwary 2025) (Appointed 28 January 2025) Accountant Dodd & Co Audit Limited FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA12RW B M Patton K E Stark G A Capstid( (Appointed 1 August 2024) A N Brown

Our Charitable Objectives

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

At the Lake District Foundation, we believe in a Lake District for everyone, with thriving natural beauty, rich heritage and diverse communities.

AIMS

Reserves Policy

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 toconsider 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 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:

Meet the description outlined in the role of trustees, comply with the process for the election of directors and adhere to our Code of Conduct, and 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 Managment

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.

The board is committed to a culture of continuous improvement in governance, with policy review as a rolling agenda item.

Remuneration Policy for Key Mangement 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.

Financial Summary

Overview

The charity has had another impactful year delivering on our mission to protect and enhance the Lake District's environment, heritage and support of our local communities. Over the course of a year, we have delivered £543,042 in grant funded projects and commissioned work, focused on sustainable farming practices, trees and forest conservation, and the protection and care of our lakes and rivers.

Through fundraising appeals and visitor giving, we have raised an additional £241,078 in donations and legacies. These funds are being used to support vital conservation efforts across our fells, lakes and reedbeds.

Financial Summary

Financial position in 2024/25: Total income: £796,170 Total expenditure: £920,900 Deficit: -£124,730.

The deficit reflects a strategic decision by the Trustees to invest in growing and strengthening our team. In addition, £34k was allocated to establish a new Lake District for All small grant programme, supporting greater inclusion and accessibility in the Lake District.

As we enter the new financial year, we are focused on strengthening our funding base and delivering new projects that support a resilient, clean and inclusive Lake District.

Reserves

At the year end, the charity held free reserves of £231,256.

Approved by the Trustees on 3 September 2025 and signed on their behalf by:

Keith Ashcroft

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:

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.

Independent Examiner's Report to the Trustees of Lake District Foundation

I report on the accounts of the charity for the year ended 31 March 2025, which are set out on pages 7 to 21.. 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.

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:

follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and 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

In connection with my examination, no matter has come to my attention:

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Joanne Thomlinson FCA Dodd & Co Audit Limited Chartered Accountants

FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW 3 September 2025

Statement of Financial Activities for the Year Ended 31 March 2025

The following notes form an integral part of this financial statement ,

Il I Balance Sheet as at 31 March 2025 2025 2024 Note Flxed assets Investments 12 Currnnt assets Deblors Cash at bank and in hand 13, 80,962 339,565 420.527 66,597 464,218 530,815 Credltor4: Amounts falllng due wlthln one yoar 14 (177.241) {162,799) Not currnnt assets 243,286 368,016 Net assets 243,287 368,017 Tho funds of the charlty: Restrlcted funds 12,031 24,606 Unrestrlcted funds Unrestricted income funds 231,256 343,411 Total charlty funds The financial statements have been prepar&1 in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of I￿land {FRS 102). 243.287 368.017 Approved by the Board on 3 September 2025 and signed on its behalf by: P Hensman Trustee

Notes to the Financial Statements for the Year Ended 31 March 2025

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 statments.

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 17.

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.

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.

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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.

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 Investments.

I nvestments

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.

Unrestrlcted ￿StrICted Total Funds Total Funds Funds Funds 2025 2024 Donations and legacies 2 Donallons and legacles Legacies and bequests Appeals and donations GrftAid tsx redaimed 50.000 174,615 16,463 241,078 77.501 112.089 9.028 198.618 22,924 4.115 77,039 151.691 12.348 164.039 Grants Environment Agency Lake District National Park Authority The National Trust Natural England United Utilities European Regional Development Fund Swire Charitable Trust Catherine Cookson Chariiable Trust aiokit Foundation Robert Clutterbuck Charitable Trust Northem Gas Nebhrrk Emest K18inwort O'ovlv Carte Charitable Trust Cumbria Communty Fund Natsonal Lottery Heritage Fund Tokyo University Weslmorland & Fuff*ss Coun¢61 Booking.com The William Dean Countyside and Ethjcational Trust Michael Marks Charitable TnyJt Gro¢ers' Hall Charrtable Trust National Farmers, Union The Reed Foundation Linley Shaw Charitable Foundation Ramble Worldwide Outdwr Trust S M B Charitable Trust Clark Foundation Calisen Impact Charitable Trust European Outdo¢¥ ConservalK>n Asso¢iation 15,ty)0 94.582 25,000 15,000 104,582 35,000 54,941 13,500 25.958 49,999 30,500 575.501 10.000 10,000 10.IXIO 20.tloo 2.500 10.(KIO 10,000 500 1,000 19.060 19,060 4,000 4,000 1.015 173.378 19,060 4,000 4,000 1,015 173,378 191,399 10.120 14,17S 2.030 750 2,800 2.520 1.750 48.775 25.970 1.1)00 46,775 25,970 1,000 1,184 1,184 28,187 10,209 3,000 4,000 15,000 19,182 543,042 28,187 10.209 3.000 4,000 15.000 19,182 474,855 68,187 1.007.488 145.226 638,894 784,120 1.206,106 Of the donations and leoacies income in 2024, £106.234 related io unrestrict8d fijnds and £92,384 related to restricted funds. Of the grants r￿1Ved in 2024. £40,000 related to unrestricted funds and £967.488 related to restricted funds.

Charftable actlvltles Unrestricted Restricted Total Funds Total Funds Funds Funds 2025 2024 Charltable actlvitles Sales of donated goods Z158 2,158 1,175 All of the charitable activities income in 2024 related to unrestricted funds. Invostment Incom Unrestrlcted Rostrlcted Totsl Funds Total Funds Funds Funds 2025 2024 Interest on cash deposits 9,892 9,892 5,071 All of the investment income in 2024 related lo unrestricted funds. other Incom• Unrnstrlct•d Funds Restrlctod Funds Total Funds Total Funds 2025 2024 Other Income Consullancy income 5.000 All of the other income in 2024 related to unrestricted funds.

6 Expendfturn Fundralslng actlvltles Proloct Costs Totsl 2025 Total 2024 Dlrnct costs Grants payable Project expenditure Gateway fees and other fundraising costs Wages and salaries Staff NIC (Employers) Stsff pensions 257.217 186,873, 15,577 315.253 27,256 17,409 819.585 257.217 186,873 24,061 361.740 31,241 19.954 881,086 663,268 140,969 24,534 332,634 26,248 12,449 1,200,102 8,484 46.487 3,985 2.545 61.501 Support costs Staff training Wages and salaries Staff NIC (Employers) Staff pensions Rent and rates Insurance Telephone and fax Computer software and maintenance costs Printlng. postage and stats'onery Membership and subscriptions Accountancy fees Audit fees Independent examiners fee Bank charges 1,323 1,250 107 68 83 308 214 1,059 99 858 645 267 80 10 6,371 6.948 6,561 562 359 437 1.619 1,118 5,559 518 4,502 3.389 1,401 420 8,271 7,811 669 427 520 1,927 1,332 6.618 617 5,360 4.034 1,668 500 60 6,578 7,127 562 269 529 2,089 1,536 7,691 465 1,061 3,683 3,950 60 35,600 33,443 67,872 853,028 920,900 1,235,702 Of the expenditure in 2024, £74,386 related lo unrestricted funds and £1,161,316 related to restricted funds. The support costs are calculated as 8 16% split of total costs to Fundraising Activities.

Of the £78,992 granted to the Lake District National Park Authority in the year, £39,689 relates to the Fix the Fells project, and £39,303 relates to Sponsor the Lake District Fund.

Governance costs 2025 2024 Accountancy fees Independent examination Audit fee5 2024 4,034 500 1,668 6,202 3,683 3.950 7,633 Trustees. remuneratlon and expenses During the year 1 trustee was reimbursed a total of £79 for expenses incurred (2024: L88). 10 Employees. remuneratlon The monthly average number of persons (induding senior management) employed by the tharity during the year was as follows: 2025 No. 2024 Charitable acliviti88 11 11 The aggregate payroll costs of these persons were as follows: 2025 2024 Wages and salari8S Social security other pension costs 369.551 31,910 20,381 421,842 339.761 26,810 12,718 379,289 One ernpioyee received errrf)IuTr*nts of than £60,000 during the year. Totsl employee benefits paid to key management personnel of the charity We￿ £96,344 (2024 - £92,809). During the period, the charity made redundancy payments which totallekl £1,269 (2024 - £nil). These cosls a￿ induded in the totsl wages and disclosed above. 11 Taxation The registered charity is exempt from taxation on income and gains.

12 Investments held as fixed assets Investments in group and associated undertaklngs Market value As at 1 April 2024 and 31 March 2025 Net book value As at 31 March 2025 As at 31 March 2024 All investment assets were held in the UK. The charlty holds more than 20% of the share capital of the following company. Country of Incorporatlon Prfnclpal actlvlty Class Subsldlary undertaklng8 Nurture Tourism Limited England and Wales Domiant Ordinary 100 Capltal & rnserves Profltl{loss) for the perlod Subs5dlary undertakings Nurture Tourism Limited 13 Debtors 2025 2024 Trade debtors Prepayments and accrued income 5.000 61,597 66.597 80,962 80.962

14 Creditor5: Amounts falling due within one year 2025 2024 Trade ueditors Accruals and deferred in(x)rne 13,485 163,756 177,241 10.210 152.589 162,799 15 Penslon schom• Deflnod contrlbutlon ponslon schemo The charity operates a defined contribullon pension scheme. The penslon cost charge for the period represents ntributions payable by the charity to the scheme and amounted to £20,381 (2024- £12,718). Tr￿8 ￿re no outslandlng or prepaid contributions at either the beginning or end of the financid year. 16 ￿latsd partl•s Controlllng •ntlty The charity is rA)ntrcAled by the trustees. R•latod party transactlons Total funding recelved from related partN88 durlng the year were as follows: Partner DIr•Ctor￿0CUtlve 2025 2024 National Tnjst Lake Dislricl National ParkAut￿rity Environment Age United Utilities M Innerdale G CapslKk A Brown K Slark 23,158 15,000 54,441 20,000 104,582 15,OLX) 22.5 Other businesses contribute money ￿lIe￿ad from visrtors and the fol[0￿￿￿ have senlor stsff who serve on the tx)ard of trustees: Partner DlrectorlExecutlve 2025 2024 Langdale Leisure Limited D Visser 12,000 Grants made: G Capstick rs the CEO of the Lake District National PaTk Authority (LDNPA). Lake Di5trtct Foundation engages in int fundraising activities *ith the Lake District National Park Authority %thich has resulted in £78,992 (2024: £103.626) being granted from the charity lo LDNPA during the year.

17 Anatysls of funds At 1 Aprll 2024 Incomlng resources Resources •xp6nd6d At 31 March 2025 Transfors General Funds Unrestricted income fund 343.411 157.276 P92,906) 23.475 231,256 Restrlcted Funds Lake District National Park Authority's "Sponsor the National Park" Fix the Fells Red squi￿1$ The Real Hedge Fund Lakes Distillery Fund Environment Agency Fund Northem Gas Network Fund Love Your lakes Fund National Lottery Heritage - Treas Call for Action Fund (TCAF) The National Trust Cumbria Woodlands Westmorland & Fumess Council Booking.com Nutrient Neutralty LDNPA Farning in Protected Landscapes Reedbed Revlval 61,291 121.014 40 1,900 10,000 15,000 19.060 978 (41,023) (121,014) (32) (5,120) {10,000) (15,000) {19.060) <19,423) (10.268) 10,000 {8) (380) (334) 5.430 334 1,830 18,842 (196) 201 173,378 25,000 2.000 38,775 25,970 (173,378) (25,000) (2.000) (38,775) (25,970) (5.944) 76,638 61.906 638.894 (76,638) (49,617) (627,994) (12.289) {23,475) 24,606 12,031 368,017 796,170 (920,900) 243,287

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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 andconservation activities. This fund also includes donations received to sponsor furniture like bridges and signage.

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.

Lakes Distillery Fund - This fund is dedicated to projects that enhance and conserve water quality in the Lake District’s lakes and rivers.

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.

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 – 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.

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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 withnature. The project, Woodland Futures, focuses on woodland creation and management across Cumbria.

The National Trust - This grant supports LDF's fundraising activities for the Fix the Fells project, helping to maintain and protect the Lake District’s footpaths.

Cumbria Woodlands - This funding supports Cumbria Woodlands with income generation assisting with fundraising targets, as well as embedding the work of Cumbria Woodlands in joint bids with the foundation.

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.

Booking.com - The sustainable grant fund is designed to support small accommodation providers based in Cumbria to implement more sustainable business projects and practices.

Nutrient Neutrality: Grants towards communication project to support development of nutrient neutrality across the county.

Farming in Protected Landscapes: Grant towards project working with farmers and land managers to support soil sampling and nature friendly farming in the Windermere catchment.

Reedbed Revival - This grant supports the Reedbed Revival Project, a conservation project focused on restoring and preserving reedbeds across the Lake District.

18 Transfers The following amounts have been transferred from restricted fvnds to the unrestri(thl fund representing a 20% contribution to runnirvJ costs: LDNPA: £10,268 Reedb&ds.' £12,289 Red Squirrels: £8 Real Hedge Fund.. £380 Love Your Lake: £196 Lakes Distillery.. £334 Prfor perlod At 1 Aprfl 2023 Incomlng resources Resourcès expended Transfern At 31 March 2024 Ggnernl Funds Unr8Stricted income fund 333,103 157,480 {166.291) 19,119 343,411 R•8trlcted Fund8 Lake District National Park Authority's 'Sponsor the National Park" Fix the Fells Red Squirrals Real Hedge Fund Lakes Distillery Environment Ag8ncy Fund Environment Agency's Nalural Environment Investrnent Readiness 47 46,579 (37,310) {9.316) 20,053 56,706 (67,982) (48) (55) (52) (15.IXIO) (8,777) (12) (514) {96) 3.429 2,570 482 15,C(Kl 5,430 334 39,441 (39,441) Fund {IgEJRO European Regional Development Fund {ERDF) Northem Gas Network Fund Love Your Lake Fund National Lottery H8rttage - Tre65 Call for Action Fund Tokyo Universty The National Trust Westmortand & Fumess Coundl Booking.com Natural England 575.501 19,C60 29.542 <575.501> (19,060) (40,031) (191.399) (10.120) (13.158) (8.225) (2,030) (49.999) 29.735 1404) 18,842 191,399 10.120 13.158 8,225 2,030 49,999 53.264 ￿,871 {1,069,411) 24.606 386.367 1.217,352 {1235.702) 368.017

19 Net assets by fund Unrestricted Funds Restricted Funds Total Funds 2025 Total Funds 2024 Investmants Current assets Creditors: Amounts falling due within one year Net assets 408,496 12,031 420,527 530,815 (177,241) 231,256 (177,241) 243,287 (162,799) 368,017 12,031 Prlor perlod Unrestrlctsd Funds Rostrlcted Funds Total Funds 2024 Total Funds 2023 Investments Current assets Creditors.. Amounts falling due withln one year Net assets 506,209 {162,799) 343,411 24.606 530,815 (162,799) 368.017 433,523 (47.157) 386.367 24,606

Find out more lakedistrictfoundation.org f O lakedistrictfoundation ,t X lakesfoundation 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 with the charity number 1174201. and is registered with the Fundraising Regulator. Lake District Foundation