Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
Company registration number CE020862 (England and Wales)
Charity registration number 1188185 (England and Wales)
THE LYONS TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 AUGUST 2025
Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
THE LYONS TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr F J Lyons | |
|---|---|---|
| Mr D M O'Brien | ||
| Mr D Lyons | ||
| C Lyons | ||
| Country of incorporation | United Kingdom | CE020862 |
| (England and Wales) | ||
| Charity registration | England and Wales | 1188185 |
| Registered office | Yew Tree Farm | |
| Crouchley Lane | ||
| Lymm | ||
| Cheshire | ||
| England | ||
| WA13 0TH | ||
| Independent examiner | John B S Fairhurst BA (Hons) FCA | |
| Fairhurst Accountants Ltd | ||
| Douglas Bank House | ||
| Wigan Lane | ||
| Wigan | ||
| Lancashire | ||
| WN1 2TB |
Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
THE LYONS TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Statement of cash flows | 6 |
| Notes to the financial statements | 7 - 12 |
Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
THE LYONS TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
For The Year Ended 25 August 2025
The Trustees present their annual report and financial statements for the year ended 25 August 2025.
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 governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 Charity was constituted on 25 February 2020 as a charitable incorporated organisation (CIO).
The Charity's objectives are:
1) General charitable activities for public benefit as may from time to time be determined by the trustees.
2) The trustees must use the income and may also use the capital of the charity in promoting the objectives.
Priorities for support
The Charity aims to advance education, prevent and relieve poverty, especially those in need because of youth, age, ill health, disability, or financial hardship.
Public benefit
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Financial review
During the year the charity sold 40,000 of its shares in A J Bell plc generating proceeds of £175,200 which it has used to make various donations.
The Trustees and Directors report a net deficit of £140,364 (2024: £27,985) arising from gifted investments and the unrealised investment gains/(losses) in the year.
Net assets are, in the majority, the investment value portfolio of £260,000 (2024: £398,250) and property of £142,136 (2024: £142,136). The property has been leased for a period of ten years from April 2023 to a charity Cheshire Without Abuse. Rents due have been waived and treated as a donation in the year. Total net assets amounted to £508,789 (2024: £649,153).
Income
Total income was £17,673 (2024: £24,070) mainly representing dividends generated by the donated share investments.
Expenditure
Donations have been made to charities for £191,740 (2024: £253,807), see note 4 for details. There are some small costs for bank charges and accountancy.
Reserves policy
The charity has adequate reserves to draw down as the trustees see fit in terms of donations to be agreed and paid in the future. These funds remain uncommitted.
The charity only has a very minimal cost base to cover, so the net assets are deemed adequate to cover future costs.
Structure, governance and management
The charity is controlled by it's governing document, a deed of constitution, and constitutes a charitable incorporated organisation as defined by the Companies Act 2006.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr F J Lyons Mr D M O'Brien Mr D Lyons C Lyons
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Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
THE LYONS TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
For The Year Ended 25 August 2025
Recruitment and appointment of trustees
Apart from the first charity trustees, every trustee shall be appointed for a term of three years by a resolution passed in writing by the Family Member Trustees (acting unanimously). If there are no Family Member Trustees then the power to appoint vests in the charity trustees at a properly convened meeting of the charity trustees.
In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
Induction and training of trustees
The charity trustees will make available to each new charity trustee, on or before his or her first appointment:
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a copy of the current version of this constitution; and
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a copy of the CIO's latest Trustees' Annual Report and statement of accounts
Statement of Trustees' responsibilities
The Trustees, who are also the directors of The Lyons Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company 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 charitable company for that year.
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; 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 Companies Act 2006. 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.
The Trustees' report was approved by the Board of Trustees.
..............................
Mr F J Lyons
Trustee
15 May 2026 | 14:08 BST Date: .............................................
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Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
THE LYONS TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE LYONS TRUST
I report to the Trustees on my examination of the financial statements of The Lyons Trust (the Charity) for the year ended 25 August 2025.
Responsibilities and basis of report
As the Trustees of the Charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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 386 of the Companies Act 2006.
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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 accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
John B S Fairhurst BA (Hons) FCA Fairhurst Accountants Ltd
Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB Date: ............................20 May 2026 | 10:07 BST
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Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
THE LYONS TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
For The Year Ended 25 August 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Investments | 2 | 17,673 | 24,070 |
| Total income | 17,673 | 24,070 | |
| Expenditure on: | |||
| Charitable activities | 3 | 191,740 | 253,807 |
| Other expenditure | 7 | 3,351 | 3,591 |
| Total expenditure | 195,091 | 257,398 | |
| Net gains on investments | 8 | 37,054 | 205,343 |
| Net expenditure and movement in funds | (140,364) | (27,985) | |
| Reconciliation of funds: | |||
| Fund balances at 26 August 2024 | 649,153 | 677,138 | |
| Fund balances at 25 August 2025 | 508,789 | 649,153 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
THE LYONS TRUST
STATEMENT OF FINANCIAL POSITION
As At 25 August 2025
| Notes Fixed assets Tangible assets 10 Investments 11 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities The funds of the Charity Unrestricted funds 13 |
2025 £ 109,173 (2,520) |
£ 142,136 260,000 402,136 106,653 508,789 508,789 508,789 |
2024 £ 110,986 (2,219) |
£ 142,136 398,250 |
|---|---|---|---|---|
| 540,386 108,767 |
||||
| 649,153 | ||||
| 649,153 | ||||
| 649,153 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 25 August 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
15 May 2026 | 14:08 BST
The financial statements were approved by the Trustees on .........................
| .............................. | .............................. |
|---|---|
| Mr F J Lyons | C Lyons |
| Trustee | Trustee |
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Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
THE LYONS TRUST
STATEMENT OF CASH FLOWS
For The Year Ended 25 August 2025
| Notes Cash flows from operating activities Cash absorbed by operations 16 Investing activities Proceeds from disposal of investments Investment income received Net cash generated from investing activities Net cash generated from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2025 £ £ (194,790) 175,304 17,673 192,977 - (1,813) 110,986 109,173 |
2024 £ £ (257,399) 213,383 24,070 237,453 - (19,946) 130,932 110,986 |
|---|---|---|
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Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
THE LYONS TRUST NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 25 August 2025
1 Accounting policies
Charity information
The Lyons Trust is a private company limited by incorporated in England and Wales. The registered office is Yew Tree Farm, Crouchley Lane, Lymm, Cheshire, WA13 0TH, England.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
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.
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.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Support costs are those functions that assist the work of the charity but do not directly relate to charitable activities. Support costs include office costs, finance and governance costs which support the charity activities.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
over the term of the lease of 10 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
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Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
THE LYONS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For The Year Ended 25 August 2025
1 Accounting policies
(Continued)
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.8 Impairment of fixed assets
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.9 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.
- 1.10 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.
1.11 Taxation
The charity is exempt from corporation tax on its charitable activities.
2 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Rental income | 4,500 | 4,500 |
| Income from listed investments | 9,675 | 13,800 |
| Interest receivable | 3,498 | 5,770 |
| 17,673 | 24,070 |
3 Expenditure on charitable activities
| Direct costs Grant funding of activities (see note 4) Analysis by fund Unrestricted funds |
2025 £ 191,740 191,740 |
2024 £ 253,807 |
|---|---|---|
| 253,807 |
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Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
THE LYONS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For The Year Ended 25 August 2025
4 Grants payable
| Grants to institutions: Cheshire Without Abuse The Bread and Butter Thing Childrens Adventure Farm The Parochial Church St Peters Warrington Youth Zone Cheshire Community Foundation Rubys Fund Manchester Carers Forum Liverpool South CAPD Farnworth Baptist Church |
2025 £ 4,500 62,500 500 10,850 25,000 33,390 50,000 5,000 - - 191,740 |
2024 £ 4,500 75,000 11,000 115,000 25,000 18,807 - - 2,500 2,000 |
|---|---|---|
| 253,807 |
5 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
There were no Trustee expenses paid during the year.
6 Employees
The average monthly number of employees during the year was:
| The average monthly number of employees during the year was: | ||
|---|---|---|
| 2025 | 2024 | |
| Number | Number | |
| Total | - | - |
| There were no employees whose annual remuneration was more than £60,000. |
7 Other expenditure
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Accountancy and tax | 3,282 | 3,540 |
| Bank charges | 69 | 51 |
| 3,351 | 3,591 |
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Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
THE LYONS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For The Year Ended 25 August 2025
8 Gains and losses on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| Gains/(losses) arising on: | £ | £ |
| Revaluation of investments | (33,450) | 136,060 |
| Sale of investments | 70,504 | 69,283 |
| 37,054 | 205,343 |
9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
10 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Freehold land | |
| and buildings | |
| £ | |
| Cost | |
| At 26 August 2024 | 142,136 |
| At 25 August 2025 | 142,136 |
| Carrying amount | |
| At 25 August 2025 | 142,136 |
| At 25 August 2024 | 142,136 |
The freehold property is held for charitable purposes.
11 Fixed asset investments
| Listed | |
|---|---|
| investments | |
| £ | |
| Cost or valuation | |
| At 26 August 2024 | 398,250 |
| Valuation changes | (33,450) |
| Disposals | (104,800) |
| At 25 August 2025 | 260,000 |
| Carrying amount | |
| At 25 August 2025 | 260,000 |
| At 25 August 2024 | 398,250 |
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Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
THE LYONS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For The Year Ended 25 August 2025
11 Fixed asset investments
(Continued)
The charity holds 50,000 Ordinary £0.0125 shares in A J Bell plc and as at 25 August 2025 the investment has been revalued at £5.20 per share giving a market value of £260,000.
The subsequent loss of £33,450 has been reflected in the Statement of Financial Activities as an unrealised loss.
12 Creditors: amounts falling due within one year
Accruals and deferred income
| 2025 | 2024 |
|---|---|
| £ | £ |
| 2,520 | 2,219 |
13 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.
| At 26 August | Incoming | Resources | Gains and | At 25 August | |
|---|---|---|---|---|---|
| 2024 | resources | expended | losses | 2025 | |
| £ | £ | £ | £ | £ | |
| General funds | 649,153 | 17,673 | (195,091) | 37,054 | 508,789 |
| Previous year: | At 26 August | Incoming | Resources | Gains and | At 25 August |
| 2023 | resources | expended | losses | 2024 | |
| £ | £ | £ | £ | £ | |
| General funds | 677,138 | 24,070 | (257,398) | 205,343 | 649,153 |
14 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
15 Ultimate controlling party
The charity is under the control of the trustees.
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Docusign Envelope ID: 96A42AB5-F676-825B-8220-63F4F12AFF47
THE LYONS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For The Year Ended 25 August 2025
| 16 | Cash absorbed by operations | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| Deficit for the year | (140,364) | (27,985) | |
| Adjustments for: | |||
| Investment income recognised in statement of financial activities | (17,673) | (24,070) | |
| Gain on disposal of investments | (70,504) | (69,283) | |
| Fair value gains and losses on investments | 33,450 | (136,060) | |
| Movements in working capital: | |||
| Increase/(decrease) in creditors | 301 | (1) | |
| Cash absorbed by operations | (194,790) | (257,399) | |
| 17 | Analysis of changes in net funds |
The Charity had no material debt during the year.
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