Docusign Envelope ID: 6896664D-16AC-4232-ADA7-B1B3EE99274B
Charity registration number 1183130
THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
Docusign Envelope ID: 6896664D-16AC-4232-ADA7-B1B3EE99274B
THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Daniel Ross Peter Land Robert Meadmore Luke Rittner KBE, CBE Secretary Karen Diprose Charity number 1183130 Registered office Fifth Floor Clareville House 26-27 Oxendon Street St James's London SW1Y 4EL Independent examiner Goodman Jones LLP 1st Floor, Arthur Stanley House 40-50 Tottenham Street London W1T 4RN
Docusign Envelope ID: 6896664D-16AC-4232-ADA7-B1B3EE99274B
THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Statement of trustees' responsibilities | 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 11 |
Docusign Envelope ID: 6896664D-16AC-4232-ADA7-B1B3EE99274B
THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2024
The trustees present their annual report and financial statements for the year ended 31 May 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's trust deed dated 13 December 2018, 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 (FRS 102)" (effective 1 January 2019).
Objectives and activities
The charity's objects are to provide scholarships and grants for talented young students of the choreographic arts, drama and musical theatre to selected schools and organisations for the performing arts.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
In planning the activities for the year, the trustees ensured that the guidance as issued by the Charity Commission was adhered to. The charity received donations for a project to support young artists by providing an artists rehearsal and pre-performance room named 'The Dame Gillian Lynne Artists Room', as well as scholarship awards.
Financial review
The charity received donations from donors amounting to unrestricted funds of £75,000 (2023: £19,070), and restricted funds for The Wren Project of £100,000 (2023: £Nil). The total donations received during the year was £175,000 (2023: £19,070).
The Charity made a donation in support of The Wren Project of £100,000 to create The Dame Gillian Lynne Artists' Room as part of the Wren building.
The Charity also provided funding to registered charities such as The Royal Central School of Speech & Drama and ArtsEd amounting to £10,000 (£5,000 each), which was from unrestricted funding.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use, and reserves, should be maintained at a level equivalent to between three and six months' expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
At 31 May 2024, there is a balance of £69,043 (2023: £6,963) of unrestricted funds and £Nil of restricted funds held by the charity to enable the trustees to assess the merits of a variety of worthy causes to be selected for consideration. There were no deficit funds on the balance sheet at 31 May 2024.
Risks
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to any major risks. As a small charity, they do not consider that the charity is exposed to any significant risks.
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THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024
Structure, governance and management
The charity is a charitable trust created by the trust deed.
The trustees who served during the year and up to the date of signature of the financial statements were: Daniel Ross
Peter Land Robert Meadmore Luke Rittner KBE, CBE
Apart from the first charity trustees, every appointed trustee is appointed by a resolution passed at a trustees' meeting.
In selecting individuals for appointment as trustees, the trustees consider the skills, knowledge and experience needed for the effective administration of the charity.
In the preparation of the year-end financial statements, the trustees have considered whether the charity is a going concern for the foreseeable future and, hence, whether it is appropriate to prepare the financial statements on a going concern basis. The period they have considered is at least twelve months from the date of approval of the financial statements. On the basis of their review, the trustees consider the charity a going concern.
The trustees are the only key management personnel, none of whom receive remuneration for services provided.
As a charity, The Dame Gillian Lynne and Peter Land Foundation must be able to demonstrate that its objects and activities are for the public benefit as required by the Charities Act 2011. The trustees have all reviewed the guidance issued by the Charity Commission on public benefit and have ensured that the charity's objects and activities comply with this statutory requirement. The trustees confirm they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity.
The trustees' report was approved by the Board of Trustees.
.............................. Peter Land Trustee 12 March 2025 Dated: .........................
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THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 MAY 2024
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Under that law the trustees must not approve the financial statements unless they are satisfied that they 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 operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
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THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION
I report to the trustees on my examination of the financial statements of The Dame Gillian Lynne and Peter Land Foundation (the charity) for the year ended 31 May 2024.
Responsibilities and basis of report
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 and that an independent examination is needed.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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 financial statements to be reached.
Julian Flitter Goodman Jones LLP 1st Floor, Arthur Stanley House
13 March 2025
Dated: .........................
40-50 Tottenham Street London W1T 4RN
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THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MAY 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and legacies 3 75,000 100,000 Charitable activities 4 - - Total income 75,000 100,000 Expenditure on: Raising funds 5 - - Charitable activities 6 12,920 100,000 Total expenditure 12,920 100,000 Net income and movement in funds 62,080 - Reconciliation of funds: Fund balances at 1 June 2023 6,963 - Fund balances at 31 May 2024 69,043 - |
Total Unrestricted funds 2024 2023 £ £ 175,000 18,442 - 628 175,000 19,070 - 3,377 112,920 10,000 112,920 13,377 62,080 5,693 6,963 1,270 69,043 6,963 |
Total Unrestricted funds 2024 2023 £ £ 175,000 18,442 - 628 175,000 19,070 - 3,377 112,920 10,000 112,920 13,377 62,080 5,693 6,963 1,270 69,043 6,963 |
|---|---|---|
| 19,070 | ||
| 3,377 10,000 |
||
| 13,377 | ||
| 5,693 1,270 |
||
| 6,963 |
All income and expenditure derives from continuing activities.
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THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION
BALANCE SHEET
AS AT 31 MAY 2024
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Income funds Unrestricted funds 12 |
2024 £ 70,363 (1,320) |
£ 69,043 69,043 69,043 |
2023 £ 6,963 - |
£ 6,963 |
|---|---|---|---|---|
| 6,963 | ||||
| 6,963 |
The trustees have not required the charity to obtain an audit of its financial statements for the year in question in accordance with the Charity Commission for England and Wales and Charities Act 2011.
Trustees' responsibilities:
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The trustees have not required the charity to obtain an audit of its financial statements for the period in question in accordance with section 144 of the Charities Act 2011
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The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
12 March 2025
The financial statements were approved by the Trustees on .........................
..............................
Peter Land
Trustee
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THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
1 Accounting policies
Charity information
The Dame Gillian Lynne and Peter Land Foundation is an Unincorporated Charity registered in the United Kingdom. The registered office is Fifth Floor, Clareville House, 26-27 Oxendon Street, St. James's, London, SW1Y 4EL.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's Charity's Trust deed, 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 (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements 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 the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
In the preparation of the year-end financial statements, the trustees have considered whether the charity is a going concern for the foreseeable future and, hence, whether it is appropriate to prepare the financial statements on a going concern basis. The period they have considered is at least twelve months from the date of approval of the financial statements. On the basis of their review, the trustees consider the charity a going concern.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024
1 Accounting policies
(Continued)
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is recognised when payable and comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
The charity's main resources expended relate to donations to other charities as decided upon by the trustees and are recognised when payable.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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Docusign Envelope ID: 6896664D-16AC-4232-ADA7-B1B3EE99274B
THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2024 | 2024 | 2024 | 2023 | 2023 | 2023 | |
| £ | £ | £ | £ | £ | £ | |
| Donations and gifts | 75,000 | 100,000 | 175,000 | 18,442 | - | 18,442 |
The restricted funds of £100,000 was funding for The Wren project, to create 'The Dame Gillian Lynne Artists' Room as part of the Wren building.
4 Income from charitable activities
| Theatre | Theatre | |
|---|---|---|
| production | production | |
| 2024 | 2023 | |
| £ | £ | |
| Event - An Evening With Peter Land… or 'How to Construct the Perfect | ||
| Negroni.' | - | 628 |
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Docusign Envelope ID: 6896664D-16AC-4232-ADA7-B1B3EE99274B
THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024
5 Raising funds
| Fundraising and publicity Event hosting costs - An Evening With Peter Land… or 'How to Construct the Perfect Negroni.' |
Total Unrestricted funds 2024 2023 £ £ - 3,377 - 3,377 |
Total Unrestricted funds 2024 2023 £ £ - 3,377 - 3,377 |
|---|---|---|
| 3,377 |
6 Charitable activities
| Donations to other charities and charitable expenditure Support costs (examiner's fee £1,320) Analysis by fund Unrestricted funds Restricted funds |
2024 £ 110,000 2,920 112,920 12,920 100,000 112,920 |
2023 £ 10,000 - |
|---|---|---|
| 10,000 | ||
| 10,000 - |
||
| 10,000 |
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2023: £Nil).
8 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
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THE DAME GILLIAN LYNNE AND PETER LAND FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024
9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
10 Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 1,320 | - |
11 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At | 1 | June | Incoming | Resources | At | 31 May | |
|---|---|---|---|---|---|---|---|
| 2023 | resources | expended | 2024 | ||||
| £ | £ | £ | £ | ||||
| The Wren Project | - | 100,000 | (100,000) | - |
Funds for The Wren project was for the sole use to create 'The Dame Gillian Lynne Artists' Room as part of the Wren building. The funds were all donated to The Wren project during the year. No restricted funds are carried forward.
12 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 June | Incoming | Resources | At 31 May | |
|---|---|---|---|---|
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| General funds | 6,963 | 75,000 | (12,920) | 69,043 |
| Previous year: | At 1 June | Incoming | Resources | At 31 May |
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| General funds | 1,270 | 19,070 | (13,377) | 6,963 |
13 Related party transactions
During the year an amount of £75,000 (2023: £15,000) was donated to the charity by Lean Two Productions Limited, a company with a common trustee and director. Dame Gillian Lynne Will Trust donated an amount of £100,000 (2023: £Nil) to the charity. Dame Gillian Lynne Will Trust is a trust with common trustees and an amount of £Nil (2023: £3,377) was donated by a trustee of the charity.
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