Registered Charity No. 1178774
THE LUGDEN HILL TRUST
ANNUAL REPORT, FINANCIAL STATEMENTS AND INDEPENDENT EXAMINER’S REPORT
FOR THE YEAR ENDED 30 JUNE 2024
INFORMATION
| Charity number: | 1178774 |
|---|---|
| Trustees: | J H Royall |
| J G Robinson | |
| P J Oakes | |
| T A Matkin | |
| M I Robinson | |
| A J Jarvis | |
| Independent Examiner: | Larking Gowen LLP |
| 1 Floor Prospect House | |
| Rouen Road | |
| Norwich | |
| NR1 1RE |
THE LUGDEN HILL TRUST
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
| Contents | Page |
|---|---|
| Trustees’ Annual Report | 3 - 4 |
| Independent Examiner’s Report | 5 |
| Receipts & Payments Account | 6 |
| Statement of Assets and Liabilities | 7 |
| Notes to the Accounts | 8 |
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THE LUGDEN HILL TRUST
TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2024
The Trustees present their annual report together with the financial statements of the charity for the year to 30 June 2024.
Objectives and activities
a. Policies and objectives
The objects of the CIO are specifically restricted to the promotion of such charitable purposes for the public benefit as the trustees shall think fit, including, but not limited to:
-
(a) The advancement of science and research in the field of agriculture and horticulture.
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(b) The advancement of education and training with particular reference to agriculture and horticulture for those born in or living in Norfolk.
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(c) The advancement of citizenship and community development in Norfolk.
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(d) The advancement of environmental protection or improvement in Norfolk.
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(e) Any such other purposes recognised from time to time by law as charitable.
No part of the assets of the charity shall be used for the advancement of religion or political purpose or any related object.
The trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission in determining activities undertaken.
Achievements and performance
a. Review of activities
The charity is becoming better known so is attracting more relevant requests for support. The charity is a member of AFCP and is developing links for research projects to be supported by multiple AFCP members in future. The trustees have considered requests for support and been in liaison with other charities, universities and colleges.
The income for the year is £101,141, (2023: £Nil). Expenditure to support the charitable objectives during the year was £48,199 (2023: £52,755). Grants were made to institutions in the year amounting to £44,650 with a further loan paid of £7,500 which is repayable to the charity over 10 years (2023: Grants £51,500). The charity is also committed to future grants totalling £18,750. Additionally, a loan of £7,500 was made to Ripper Hall and was repaid during the year.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.
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THE LUGDEN HILL TRUST
TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2024
b. Reserves policy
At the year end the charity had unrestricted funds carried forward of £180,218 (2023: £127,276).
The Lugden Hill Charity does not seek income from fundraising, and has low overheads, so does not need a high level of reserve funds to cover a lack of regular income or expenditure. It does however, need to keep reserve funds sufficient to cover pledged donations and grants, and also to cover any unexpected opportunities. The level of reserves will be considered before pledging future donations and grants
Structure, governance and management
a. Constitution
The Lugden Hill Charity was established as a foundation model Charitable Incorporated Organisation (CIO). It was incorporated and registered with the Charity Commission on the 13th June 2018 (as amended 23 June 2020) and the registered charity number is 1178774.
b. Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected under the terms of the
Constitution.
The Trustees may appoint any eligible individual as a Trustee, either to fill a vacancy or as an additional Trustee. The charity Trustees will make available to each new charity trustee, on or before appointment, a copy of the constitution and any amendments made to it and a copy of the latest Trustees' Annual Report and financial statements for the CIO.
Members and trustees
J H Royall J G Robinson P J Oakes T A Matkin M I Robinson A J Jarvis
c. Organisational structure and decision making
The trustees attend regular trustees’ meetings to administer the affairs of the charity.
Plans for future periods
The charity is hoping to attract applications for funding for research projects in agriculture (via the AFCP), and will consider any applications within our objectives.
This report was approved by the Trustees and signed on their behalf by:
………………………………. J G Robinson Trustee Date 17/12/2024
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THE LUGDEN HILL TRUST
INDEPENDENT EXAMINER’S REPORT TO THE BOARD OF TRUSTEES ON THE UNAUDITED ACCOUNTS OF THE LUGDEN HILL CHARITY
I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2024.
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. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Giles Kerkham FCA DChA
Larking Gowen LLP
Chartered Accountants Norwich
Date: 20/12/2024
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THE LUGDEN HILL TRUST
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| £ | £ | £ | £ | |
| RECEIPTS | ||||
| 100,000 | - | 100,000 | - | |
| Donations | ||||
| Gift Aid | - | - | - | - |
| Bank interest | 1,141 | - | 1,141 | - |
| Loan repaid | 7,500 | - | 7,500 | - |
| ______ | ______ | ______ | ______ | |
| TOTAL RECEIPTS | ||||
| 108,641 | - | 108,641 | - | |
| ______ | ______ | ______ | ______ | |
| PAYMENTS | ||||
| Grants (note 3) | 44,650 | - |
44,650 | 51,500 |
| Bank charges | 19 | - | 19 | 15 |
| Subscriptions | 400 | - |
400 | 600 |
| Professional fees | 3,130 | - | 3,130 | 540 |
| HMRC penalty | - | - | - | 100 |
| Loan issued | 7,500 | - | 7,500 | - |
| ______ | ______ | ______ | ______ | |
| TOTAL PAYMENTS | 55,699 | - | 55,699 | 52,755 |
| ______ | ______ | ______ | ______ | |
| Net receipts/(payments) |
52,942 | - | 52,942 | (52,755) |
| Cash funds at 30 June 2023 | 127,276 | - |
127,276 | 180,031 |
| ______ | _ | ______ | ______ | |
| Cash funds at 30 June 2024 | 180,218 ______ |
- _ |
180,218 ______ |
127,276 ______ |
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THE LUGDEN HILL TRUST
STATEMENT OF ASSETS AND LIABILITIES AS AT 30 JUNE 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| £ | £ | £ | £ | |
| CASH FUNDS | ||||
| Bank account | 180,218 | - | 180,218 | 127,276 |
| ______ | ______ | ______ | ______ | |
| TOTAL CASH FUNDS | 180,218 | - | 180,218 | 127,276 |
| ______ | ______ | ______ | ______ |
In addition to the payments made during the year, the charity is committed to future grant payments totalling £18,750.
The financial statements were approved by the Trustees and signed on their behalf, by:
………………………………. J G Robinson Trustee Date 17/12/2024
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THE LUGDEN HILL TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024
1 General Notes
Basis of accounting:
The accounts have been prepared on a receipts and payments basis. Accordingly, no account is taken of amounts payable or receivable at the period end.
2 Transactions with Trustees
The Charity does not have any employees.
No remuneration, expenses or other benefits were paid to the Trustees or people connected with them, by the charity.
3 Grants paid
The following grants were paid during the year:
| AICC – travel costs Brancaster School British Beet Research Organisation (BBRO) - PhD project Burnham Market School Dersingham School Docking School Docking Playing Field Easton College Food & Farming Discovery Trust Ingleborough Care Farm Norfolk & Suffolk Careers Festival Ripper Hall RNAA Smithdon High School UEA Student Sponsorships Watlington School Total |
2024 - 500 - - 1,000 500 5,000 10,000 7,500 - - 17,500 1,000 750 - 900 44,650 |
2023 2,000 500 7,500 500 - - 500 - 15,000 5,000 3,000 - - - 17,500 - 51,500 |
|---|---|---|
Additionally, a loan of £7,500 was made to Ripper Hall and was repaid during the year.
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