**THE LACES ECOLOGICAL AND GENERAL TRUST** ## **(A CHARITABLE INCORPORATED ORGANISATION)** **FINANCIAL STATEMENTS** **YEAR ENDED 5 APRIL 2021** **Charitable incorporated Organisation Number: CE016609 Charity No. 1182173** ## **THE LACES ECOLOGICAL AND GENERAL TRUST** ## **FINANCIAL STATEMENTS** ## **YEAR ENDED 5 APRIL 2021** |**Contents**|**Page**| |---|---| |Reference and administrative details|2| |Trustees Annual Report|3-4| |Statement of Financial Activities|5| |Balance Sheet|6| |Notes to the Financial Statements|7-8| - 1 - **THE LACES ECOLOGICAL AND GENERAL TRUST** ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **YEAR ENDED 5 APRIL 2021** **Registered office** 1 The Sanctuary Westminster London SW1P 3JT **Charity registration number** 1182173 **Company registration number** CE016609 **Solicitors** Lee Bolton Monier-Williams 1 The Sanctuary Westminster London SW1P 3JT ## **THE TRUSTEES** The trustees who served the charity during the period were as follows: Mr Peter Frederick Barton Beesley Mr Howard John Dellar Mr Barry Martin Mackenzie - 2 - **THE LACES ECOLOGICAL AND GENERAL TRUST** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 5 APRIL 2021** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDING 5 APRIL 2021** The trustees are pleased to present their annual trustees’ report with the financial statements of the charity for the year ended 5 April 2021. The financial statements comply with the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). ## **OBJECTIVES AND ACTIVITIES** The objects of The Laces Ecological and General Trust are the advancement of education throughout the world and related projects. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## _Nature of the charity and its governing documents_ The Laces Ecological and General Trust is a registered Charitable Incorporated Organisation (CIO Number CE016609) (Charity Registration Number 1182173), registered on 21 February 2019. It is governed by a constitution which establishes the objects and powers of the charitable organisation. ## _Management and The Laces Ecological and General Trust_ The charity is managed by the charity’s trustees, all of whom serve on a voluntary basis. The trustees retire by rotation at each Annual General Meeting. The Trustees have had due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. The risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems have been established to mitigate those risks. ## **FINANCIAL REVIEW** Total income for the period was £1,014 (2020: £3,500) and total expenditure for the period was £1,704 (2020 £4,720). At the 5 April 2021, the results showed a total deficit carried forward of £1,910 (2020 £1,220). ## _Reserves policy_ The Laces Ecological and General Trust reserves policy is to retain a sufficient level of reserves to enable the charity to maintain its operating activities and continue providing its services taking account of potential risks and contingencies that may arise from time to time. The policy is reviewed annually by the trustees and reserves are reviewed regularly throughout the period. - 3 - ## **THE LACES ECOLOGICAL AND GENERAL TRUST** ## **TRUSTEES’ ANNUAL REPORT (continued)** ## **YEAR ENDED 5 APRIL 2021** ## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES** The Trustees are responsible for preparing the Trustee's Annual Report and the financial statements in accordance applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law 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, including the income and expenditure. of the charity for that period. In preparing these financial statements, the trustees are required to - Select suitable accounting policies and then apply them consistently. - Observe the methods and principles in the Charities SORP. - Make judgements and estimates that are reasonable and prudent - State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the CIO will continue in operation. 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.They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. **Registered Office** 1 The Sanctuary Westminster London SW1P 3JT Signed by order of the trustees Mr Howard John Dellar -4- ## **THE LACES ECOLOGICAL AND GENERAL TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **YEAR ENDED 5 APRIL 2021** |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**Funds**|**Funds**| ||**Notes**|**2021**|**2020**| |||**£**|**£**| |**INCOMING RESOURCES**|||| |**_Incoming resources from generated funds_**|4||| |Donations received||1,014|3,500| |||------------|-----------| |**TOTAL INCOMING RESOURCES**||1,014|3,500| |||**=======**|=======| |**RESOURCES EXPENDED**|||| |**_Cost of generating funds_**|||| |Grants made||-|-| |Administration expenses|5|(1,704)|(4,720)| |||------------|------------| |**TOTAL RESOURCES EXPENDED**||(1,704)|(4,720)| |||=======|=======| |**NET OUTGOING RESOURCES FOR THE PERIOD**||(690)|(1,220)| |Funds brought forward||(1,220)|-| |||-----------|-------------| |Total funds carried forward||(1,910)|(1,220)| |||=======|========| All the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The notes on pages 7 and 8 form part of the financial statements - 5 – ## **THE LACES ECOLOGICAL AND GENERAL TRUST** ## **BALANCE SHEET** ## **AS AT 5 APRIL 2021** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**Funds**|**Funds**| ||**2021**|**2020**| |||**£**| |**CURRENT ASSETS**||| |Cash at bank and in hand|10|-| ||-----------|---------| |**TOTAL CURRENT ASSETS**|10|-| |**CURRENT LIABILITIES**||| |Other creditors|-|(260)| |Accruals|(1,920)|(960)| ||------------|----------| |**TOTAL CURRENT LIABILITIES**|(1,920)|(1,220)| ||-------------|-----------| |**NET LIABILITIES**|(1,910)|(1,220)| ||========|=======| |**_Represented by:_**||| |**UNRESTRICTED FUNDS**|(1,910)|(1,220)| ||**========**|=======| The financial statements were approved by the trustees and are signed on their behalf by: Mr Howard John Dellar Trustee Charitable Incorporated Organisation Number: CE016609 Charity Number: 1182173 The notes on page 7 and 8 form part of the financial statements - 6 - **THE LACES ECOLOGICAL AND GENERAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 5 APRIL 2021** ## **1. General information** The trust is a Charitable Incorporated Organisation, registered in England and Wales. The address of the registered office is 1 The Sanctuary, Westminster, London SW1P 3JT. ## **2. Statement of compliance** These financial statements have been prepared in compliance with Section 1A of FRS 102. The Financial Reporting Standard applicable in the UK and the Republic of Ireland. ## **3. Accounting policies** ## **Basis of preparation** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Charities SORP FRS 102 and the Charities Act 2011. 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 or note. ## **Disclosure exemptions** The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. No cash flow statement has been presented for the company. ## **Judgements and key sources of estimation uncertainty** The preparation of the financial statements requires management so make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## **Charitable income** All charitable income is accounted for in the statement of financial activity when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. ## **Expenditure** All expenditure is accounted for on an accruals basis and allocated to the appropriate heading in the accounts. All VAT has been included as part of the cost to which it relates. ## **Trustees’ remuneration** Trustee’s remuneration during the period amounted to £nil. (2020: - £ nil) |||**2021**|**2020**| |---|---|---|---| |||**£**|**£**| |**4.**|**Charitable income**||| ||Donations received|1,014|3,500| |||---------|----------| |||1,014|3,500| |||======|======| -7- **THE LACES ECOLOGICAL AND GENERAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 5 APRIL 2021** |||**2021**|**2020**| |---|---|---|---| |||**£**|**£**| |**5.**|**Administration expenses**||| ||Accountancy|960|960| ||Legal and professional fees|744|3,760| |||----------|----------| |||1,704|4,720| |||======|======| ## **6. Trustees’ advances, credits, and guarantees** There were no transactions with Trustees in the period ended 5 April 2021 (2020: £nil). ## **7. Taxation** The charity is exempt from tax as all its income is charitable and is applied for charitable purposes. ## **8. Related party transactions** There were no related party transactions during the period ended 5 April 2021 (2020: £nil). - 8 -