THE DAVID & CHRzsfENE LLOYD-JONES FOUNDATXON
Registered Charity Number-. 1192499
TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR YEAR ENDED 5 APRIL 2024

The David & Chrlstine Lloyd-jones Foundation
Index to the Flnancial Ststements
Year Ended 5 April 2024
Page
Reference and Administrative Information
Trustees. Annual Report
io
Independent Examiners Statement
Statement of Financial Artivities
12
Balance Sheet
13-20 Notes to the Accounts

The David & Chrlstine Lloyd-jones Foundatlon
Page I
Reference and Admlnlstrative Information
Year Ended 5 April 2024
Governing Documents
The Foundation is governed by the CIO Foundatlon dated 24
November 2020.
The Foundation is registereo wlth the Charity Commission
under registered charity number 1192499.
Trustees
Nicholas Moxon (Chair of Trustees)
Christopher Douglas Lee
Emma Louise Griffin
Secretary to the Trustees Ms Kirsty McEwen
Solicltors
Higgs LLP
3 Waterfront Business Park
Brierley Hill
West Midlands
DY5 ILX
Independent examlner
laines Watts
Sterling House
97 Lichfield Street
Tamworth
B79 7QF
Investment man•gers
Rowan Dartington & Co Ltd
St )ames's Place House
Blythe Valley Park
Nelson House
Central Boulevard
Solihull
890 8AR
Bankers
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Mailing
Kent
ME19 4JQ
Flagstone
151 Floor
Clareville House
26-27 Oxendon Street
London
SWIY 4EL

The Davld & Christine Uoyd-jones Foundatlon
Page 2
Reference and Admlnlstratlve Information
Year Ended 5 April 2024
Project management consultants
Moryan Thomas Ltd
One Virtoria Square
Birmingham
BI IBD

The David & Chrlstlne Uoyd-jones Foundation
Pa9e 3
Trustees Annual Report
Year Ended 5 April 2024
The Trustees present their annual report and financial statements of the Foundation for the
year ended 5 April 2024. The financial statements have been prepared in accordance with
the accounting policies set out in the accounts and to comply with the Foundation's
Governing Document, the Charities Act 2011 and the Statement of Recommended Practice
applicable to the charities p￿parIng their accounts with the Financial Reporting Standard
applicable on l January 2019.
Structure. Governance and Management
The Foundation is a Charitable Incorporation Organisation ICIOI, registered with the
Charity Commission on 24 November 2020 under registe￿(￿ charity number 1192499. The
Foundation is constituted under a CIO Foundation dateo 24 November 2020 1"the
Governing Document~l. It Was set up to honour the memory of David and Christine
Lloyd-jones.
The Foundation does not artively fundralse and seeks to contlnue the charitable work
desired by the Settlor through the careful stewardship of its exlsting resources.
Trustees are appolnted for a term of Offi￿ for five years. with no maximum number of
terms of office. Trustees terms of office took effect from their current temi of offlce as
served at the date of CIO Foundation on 24 November 2020.
The Governln9 Document provldes for there to be a minimum of three Trustees and a
maximum of nlne Twstees.
The Trustees must hold four meetings each year. The quorum at any meetlng Is at least
one third of the total number of Trustees at the time. or two, whichever 15 the greater.
At the Trustees. meetings, the Trustees agree the broad strategy and areas of activbtles f or
the Foundation, including consideration of grant making, Investment, reserves and rlsk
management policies ano performance.
The day to day administration of grants and the processlng and handlln9 of appllcatlon5
prior to consideration by the Trustees Is delegated to Morgen Thomas Ltd, a fundraising
consultancy and proj.ert management specialist. Morgen Thomas Ltd will consider the
monitoring information conceming the perfomiance of grants to date and make
recommendations to the Trustees conceming the extension, cessation or suspension of
existing grant approvals.
The Trustees would take account of the recommendations of the ICSA best practice 9uide
'Recruitment, Appointment and Induction of Charity Trustees, should the need to recruit
new Trustees arise. The Trustees would look to recruit in light of an appropriate skills
udit of the current Board and taking into account the experience, expertise and diversity
of the current Board, as well as their knowledge of the Foundation's area of benefit and
beneficial class.

The David & Christine Lloyd-jones Foundation
Page 4
Trustees Annual Report
Year Ended 5 April 2024
New Trustees may be sought by open advertisement or through a dialogue with major
grant recipients and local community groups resperting the ethos of the Foundation to
continue the charitable work intended by the Settlor, the Trustees actively seek those with
a knowledge of the local area when considering any prospective candidate. The ultimate
decision on selection is a matter for the Trustees.
On appointment new Trustees sign a Trustee Dedaration and Undertaking committing
them to the 9ivln9 of their time and expertise. It also confirms their ability to act in the
role of TrLJStees. The induction process has been changed to follow the ICSA good practice
guide with a formal induction programme for any newly appointed trustee being led by the
Secretary, to include Initial training in the grant making process, the duties and
responsibilities of the Trustees and the role of any sub committees. The welcome pack
includes. amongst other information and guidance, a brief history of the Trust, copy of
recent Trustee minutes, a copy of the last three years of annual reports and accounts, a
copy of the Govemin9 Document and a copy of the Charity Commission'5 guldance 'The
Essential Trustee.. What You Need to Know, and 'Charities and Public Benefit..
The Trustees intend In the upcoming year, with the sUPPOrt of the Secretaryi to continue
developing a code of conduct for Trnstee5 including formal statements of roles and
responsibilities and to undertake work on the Charity Govemance Code.
All Trustees give of their tlme freely and no Trustee remuneration was pald in the year.
Trustees are entitled to clalm reasonable out of pocket expenses and where they do those
are noted in the accounts.
Trustees are required to disclose annually (and a5 they ar15e) any potentlal Interests whlch
might conllict and re9lSter them vlith the Secretary and in accordance with the
Foundatlon's written Conflitts of Interest Policy.
Rlsk Mana9ement
The Trustees have considered the major risks to which the Foundation is exposed and have
revlewed those risks and establlshed systerns and procedures to manage those risks.
The major financial risk is the variability of investment returns on the portfolio and it5
impart on income levels and capital growth. The Trustees have artively sought to manage
this risk by appointing Rowan Oartington as Discretionary Manager of the investment
portfolio. Their role is to monitor the performance of the portfolio, to take appropriate
artion to mitigate any loss to the portfolio, and to ensure that the oblertives as detailed in
the Investment Policy Statement are following and reviewed annually.
The major operntional risk is the extent to which grants awarded to charitable or not for
profit organisations advances the objerts of the Foundation and demonstrate sufficient
public benefit. The Foundation has managed its risk by ￿taIning Trustees of sufficient
expertise and experience, and through the quality of the institutions and the people who
they support. In addition, the Trustees rely on the Secretary to undertake appropriate and
proportionate due diligence on applications and ensure all grant 9iving retains a focus on
the public benefit.

The Davld & Christine Lloyd-Jone$ Foundation
Pa9e 5
Trustees Annual Report
Year Ended 5 April 2024
The major regulatory impatt of the Common Reporting Standard I'the CRS.), on the
operation of the Foundation. CRS is being an international tax transparency regime aimed
at preventing tax evasion. CRS came into force from l January 2016 and the Fount1ation
is now ￿qUired to provide information about their beneficiaries, tax residency status to
HMRC, who will then share thi5 information with the appropriate tax authority in other
jurisdictions.
The Foundation is subject to this reglme because it relies on investments for more than
50Wo of its income and those investments are professionally managed by a financial
institution under discretiollary mandate. This means the Trustees are required to carry out
due diligence to establish a tax residency status of all beneficiaries, keep records of efforts
to comply with the regime, register with HMRC as a financial institution I"Financlal
Institution") Sf they have reporting requirements and report to HMRC if required.
The grant application process is reviewed annually and the grant applicatlon form
expanded to collect the necessary due diligence infomation that is requlred in order to
establish tax residency status of all grant recipients. This includes additional information
including tax resident Jurisdittion and entity status. The Trustees will keep thi5 under
review.
Objects Jnd Actlvltles for the Publlc Benefft
The objects of the Foundation are Yo advance suth charitable purpose5 (according to the
law of England and Wales) as the trustees see fit from time to time.
The Trustees confirm that they have referred to the guidance contained in the Charlty
Commission's general guidance on public benefit when ￿VIewIng the Foundation'5 objects
and purposes and planning future activities and setting the grant making policy for the
year.
The Foundation carries out these objects by providing grants to charitable or not for profit
organisations in Ilne with its current grant making policy, ensuring the greatest impacts
can be achieved and the generoslty and memory of David and Christine Lloyd-jones can be
honoured to the fullest.
The objects and activities of the Foundation are laryely detemiined by the provlsion of the
Goveming Document, and from there the Trustees exercise a discretion in considering how
best to meet the public benefit test and ensure that as many charitable and not for profit
organisation5 Wlth partlcular needs will gain advantage.
By focusing on these areas, the Foundation achieves its strategic priority of maintaining a
stable grnnt making programme.

The Davld & Christine Lloyd-jones Foundation
Page 6
Trustees Annual Report
Year Ended 5 April 2024
Grant Making Pollcv
The Trustees have power to spend the intome and capital in furtherance of the objects.
The Foundation has established its grant making policy to achieve its objerts for the publlc
benefit, support charitable and not for profit oryanisations operating within England and
Wales, with a p￿ference being given to charitable or not for profit organisations operating
in Worcestershire. The Trustees review the grant making policy annually to ensure it
reflertS the Foundation's objects and thereby advan￿5 PLbblic benefit.
The general policy of the Trustees is not to give ￿trOspective grants and the Trustees will
only consider one appllcation per year from any applicant.
Gr•nt M•klng Prncedure
Applications can only be consldered if they are on the Foundation'5 Standard applicatlon
form.
The application form must be completed and ￿turned (together with a copy of any
supporting bnformation relevant to the application) to Morgen Thomas Ltd at least four
week5 before the meeting at which the application is to be considered.
The Trustees meet at least two times a year to conslder applications.
It is the policy of the Trustees is to consider grants on an equal opportunitles ba515,
regardless of gender, religlon and ethnic background.
Publlc Ben•flt
The Trustees confirni that they have refer￿￿ to the infomiation contained in the Charity
Commission's general guidance on public benefit when reviewing the Foundation's objects
and activities, their grant making policy and plans for future period.
The objects and artivitie5 Qf the Foundation a￿ laryely determined by the provisions of the
Governing Document. and from there the Trustees eyerclse a discretion in considering how
best to meet the public benefit test and ensure thèt as many individua15 and charitable and
not for profit organisations (for exclusively charitable purposes) benefit.
Monltorlng and Achlevement
The Trustees have contlnued wlth an aspiration to seek a reasonable return over the long
term. In recent years the portfolio has shown a welcomed recovery and it is considered
that the long-term objectives to meet income needs and grow the tapital rernain
obtainable.
Durin9 the year the performance of the princlpal Investment portfolio was managed by
Rowan Dartington and was considered satisfactory with all benchmarks being largely
achieved.
Grants awarded during the periryl are listed on page 16 in the accounts.

The David & Christine Lloyd-jones Foundation
Pa9e 7
Trustees Annual Report
Year Ended 5 April 2024
The decision was taken by the Trustees to treat the Trust as expendable as to income and
capital, with the view that the capital should be spent down over a period of a maximum of
five years, in support of significant capital projerts, with maximum impact. The reasons for
this decislon were as follows:
There being no surviving relatlves of Christlne Lloyd-jones who might want to be
involved in the Foundation, who might prefer to see her ￿rnembered over the
longer tem.
Significant impact can be made by an earfy allocatioll of the capital to projects that
fulfil the Settlors. wishes.
Investment ￿turnS are at historically low levels and annual administration, legal
nd investment costs which mlght erode the spending power and potential income
of the Trust over tSme.
The Trustees, focus Is on supporting charities and not for profit organ15ations for
exclusively charitable purposes within the area of benefit, with the followln9 prloritie5
being key..
the advancement of education;
the advancement of religion:
the advancement of citizenship or community development;
cause5 which support military personnel and veterans.. and
national causes where there is specific benefit within the 'area of benefit,.
The Trustees have determined the 'area of benefit, to be the West Midlands, wit
particular focus on charities and not for profit organisations whose objects or charitable
activities or projects are focused in Worcestershire.
Flnan¢lal Revlew
The Foundation's work Is entirely reliant on income and returns frorn its capltal. As at S
April 2024, the value of the capital fund sto¢)d at £4,957,725 ￿presented by the market
value of the investment portfolio of £4.784,877. the value of investment land of £5,000
and net current assets of £167,849. During the year the investment income of the
Foundation amounted to £121,164.
Investment Policy and Performance
The investment powers of the Tnjstees are wide and allow the Trustees to invest funds in
any manner (after taking such advice as they consider ne￿sary) and having regard to the
suitability of investments and need for diversification.

The David & Christine Lloyd-jones Foundatlon
Page 8
Trustees Annual Report
Year Ended 5 April 2024
The principal investment holdings of the Foundation comprise funds and portfolios of
quoted securities. As at 5 April 2024, the value represented IOOOIO of the Foundation's
investments.
The management of the portfolio is undertaken on a discretionary
mana9ement basis by Rowan Dartington and the written investment policy is reviewed on
at least an annual basis by the Secretary in conjunction with the investment managers and
ultimately approved by the Trustees.
As at the year end the Trustees held cash on deposit with Rowan Dartington of £36,434
and cash in the bank of £298,152 which is split between CAF Bank and Flagstone Group.
R•serv•s Pollcv
The whole of the Foundation's capital is expendable and this distlnction between capital and
income is not ￿leVant. The Trustees appreciate that the general printiples of charity law
require Trustees to spend their income within a reasonable period of receipt.
The Trustees have Set and agreed a policy whlch broadly Identifies the framework within
which the Foundation will operate its reserves. The intention is that the Foundation will
retain an appropriate and reèsonable level of reserves whilst concurrently ensuring that it
uses the incorne in a manner that is within the objerts at the best interests of the
Foundatlon and its beneficiaries.
Slnce the Foundation receives all of its income from the investment portfolio, the Trustees
are mindful that the source of income can be volatile and subject to sudden changes in the
market. They are concerned that in any Veèr the￿ is a rfsk that they cannot meet their
ongolng administration and professional expense commitments as and when they arise,
due to any flurtuations in the market which may prevent or significantly reduce income.
The Trustees have therefo￿ consldered, in conjunrtlon with the professlonal advisers, the
level of reserves to retain from surplus unrestricted funds. They have decided to build up a
pot of reserves equivalent to one year's admsnistrative and professional expenses but
excluding grant commitments. This will ensure that should there be any flurtuations in the
market which reduce the income available for distribution, the Foundation can use its
serves to continue to meet its obligations and liabilities a5 and when they fall due.
Plan lor Future Perlod•
The Trustees believe their grants have translated into significant public benefit. The
Foundation is a lasting testimony to the generosity and charitable concems of the Settlor.
In cementing the arrangements already in place. and continuing with its current artivities
as set out In this report, so that the many and variet1 charitable and not for profit
organisations may continue to benefit in real tems from its financial support, the
Foundation aims to provide a longer temi commitment and thereby encourage and support
charitable and not for profit organisation5.
The intention is to continue a programme of grant giving which will translate into
significant public benefit. The Trustees will focus on those organisations who would benefit
in real terms (impact) from its financial support, thus providing and ensuring a longer-terrn
commitment to support.

The David & Christine Lloyd-jones Foundation
Page 9
Trustees Annual Report
Year Ended 5 Aprll 2024
Trustees. Responslblllties In Relatlon to the Flnanclal Statements
The Trustees are responsible for preparing the Trustees. Report and the financial
statements in accordance with applicable law and regulations and United Kingdom
Accounting Standards. The law applicable to charities in England and Wales requireé the
Trustees to give a true ènd fair view of the stète of affairs of the Foundation and of the
incorning resource5 and application of resources, including income and expenditure of the
Foundation for that period.
In prepartng these financial statements. the Trustees are ￿qUIred to:
Select suitable accounting policies and then apply them consistentlyi
observe the methods and principles of the Charities SORP,.
make judgements and estimates that a￿ reasonable and prudent..
state whether applicable accounting standards have been followed. subject to any
material departu￿5 disclosed and explalned In the financial statements; and
prepare the financial statements on the going concern basis unless It Is
inappropriate to presume that the Foundation will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to
show and explain the Foundation's transactions and disclose with reasonable accuracy at
ny time the financial position of the Foundation and enable them to ensure that the
financial statements comply with the Charities Att 2011. the Charity {Accounts and
Reports) Regulations 2008 and the Governing Document.
They are also responsible for safe9uardino the assets of the Foundation and hence for
taking reasonable steps for the prevention and detertion of fraud any other irregularlties.
The Trustees are responsible for the maintenance and integrity of the Foundation and
financial information include¢J on the Register of Chèrities.
Approved by the Tru5tee5 and slgned on their behalf by..
Nlcholas Moxon
Chalr

The David & Christine Lloyd-jones Foundation
Page 10
Independent Examiner's Strtement
Year Ended 5 April 2024
I report on the accounts of the Foundation for the year ended 5 April 2024 which are set
out on pages I I to 19.
Respectlve Responslbllltles of Trustees and Ex•mlner
As the Trustees you are responsible for the preparation of the accounts,. you consider that
an audit is not required for this year under section 122{2) of the Charities Act 2011 (the
2011 Act) and that an independent examination is needed. It is my responsibility to:
examine the accounts under section 145 of the 2011 Act,.
to follow the procedures laid down in the general Directions given by the Charity
Commission under settion 145151{bl of the 2011 Act; and
to state whether particular matter5 have come to my attention state.
Basls of Independent Examlner's report
My examlnation was carrled out in accordance with the General Directions glven by the
Charity Commission. An examination includes a ￿VIeW of the accountln9 records kept by
the Foundation and a comparison of the accoLJnts presented with those ￿cOrdS. 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
un¢Jertaken do not provide all the evidence that would be required in an audlt, and
consequently I do not express an audit oplnion on the view 9lven by the accounts.
Independent Examln•r's Stat¢ment
In connertion with my examlnation. no matter ha5 come to my attention..
(i)
which glves me reasonable cause to believe that in any material respect the
requirements
to keep accountlng records In accordance with Sertion 130 of the 2011 Act;
and
to prepare accounts which accord with the accounting records and to comply
with the accounting requirements of the 2011 Act
have not been met; or
12)
to which, In my opinion, attention should be drawn In order to enable a proper
understanding of the accounts to be ￿aChed.
Slgned:
Name.. B(rren Ba
Relevant professional qualification or body.. FCCA
Address.. Haines Watts, Steding House. 97 Lichfield St￿et, Tamworth, B79 7QF
Date: 3 February 2025

The David & Christine Lloyd-jones Foundation
statement of Financial Activities
Including Income & Expendlture Account
Page 11
Year Ended 5 April 2024
Unre5trlcted
fund$
2024
Unrestrlcted
funds
2023
Notes
Income from:
Investments
121,164
72,229
Total Income
121,164
72,229
Expendlture on:
Rasing funds
Charitable artivities
8,331
119,331
10,722
413,399
Total expenditure
127,662
424,121
Net galnslllossesl on Investments
324,515
1389,4821
Net Income/(expendlture) and movement In funds
318,017
(741,374)
Reconcilliation of funds
Fund balances at 6 April 2023
4.639.708
5,381,082
Fund balances at 5 April 2024
4.957,725
4,639,708
The statement of financlal actlvitles Include5 all gain5 and losses reco9nised in the year. All
incorne and expenditu￿ derive from continuing attivities.

The David & Christine Uoyd-jones Foundation
Balance Sheet
Page 12
As at 5 Aprll 2024
2024
2023
Notes
FIMgd assets
Investment lands
Investment
io
5,000
4,784,877
5,000
4,383,638
4,789,877
4,388,638
Current assets
Debtors
Cash at bank and In hand
12
19,191
298, 152
1,283
608,083
317.343
609,366
Cr•dltors: •mounts f•lllD9 due
wlthln one y•ar
13
(149,4941
1358,2961
Net current assets
167,848
251,070
Totsl •Mets l•u current liabilities
4,957.725
4,639,708
Income fundg
un￿StrICte¢ funds
4.957,725
4,639,708
4,957,725
4,639,708
The financial statements were approved by the Trustee5
Mr N Moxon
Trustee

The David & Christine Lloyd-Jone5 Foundation
Note5 to the Financial Statements
Page 13
Year Ended 5 Aprll 2024
l Accouniing poucles
Charlty Informatlon
The David & Chrlstine Lloyd-jones Foundation Is a Charitsble Incorporation
Organisation (CIO).
1.1 Reportlni perlod
The Foundation was registered with the Charity Commission on 24 November 2020.
These accounts are made up for the year ended 5 April 2024.
1.2 A¢couniing ¢onveniion
The financial statements have been prepared in accordance with the foundation'5
governing document, the Charities Act 2011. FRS 102 "The Financial Reporting
standard applicable in the UK and Republic of Ireland- (-FRS 102-1 and the Charities
SORP "Accounting and Reportin9 by Charitles.. 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 IFRS 102}" leffettive
l January 2019). The foundation is a Public Benefit Entity as defined by FRS 102.
The foundatlon has taken advantage of the provlslons In the SORP for chamtles not to
prepare a Statement of Cash Flows.
The financlal statements are prepared in sterling. which is the functlonal currency of
the foundation. Monetary amounts in these financial statements are rounded to the
nearest £.
The flnanclal statements have been prepared under the hlstorlcal cost conventlon,
Modified to include the revaluation of freehold land and certain financial instruments
at fair value. The principal accounting policies adopted are set out below.
1.3 Golni¢oncern
At the time of approving the financlal statements. the trustee5 have a reasonable
expectation that the foundation 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 p￿paring the financial statements.
1.4 Charltable funds
Unrestricted funds a￿ avarlèble for use at the dISc￿tion of the trustees in
furtherance of their charitable objectives. At the year end all of the funds of the
Foundation are unrestricted.

The David & Chrlstlne Lloyd-jones Foundation
Notes to the Financlal Statement {Contlnued)
Page 14
Year Ended 5 Aprll 2024
l Accountlng polldes
(Continued)
2 Xncome
Income is recognised when the fount1ation is legally entitled to it after any
performance conditions have been met, the amounts can be measured rellablyi and
It is probable that income will be received.
Cash donatlons are recognised on receipt. Other donation5 are recognised once the
fo*Jndation has been notified of the donation, unless performance conditions ￿qUIre
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.
2 Expendltur•
Expenditure is ￿COgnised once there is a legèl or constructive obligation to transfer
economic benefit to a third party, it is probable that a transfer of economic benefits
will be reqUI￿d in settlement. and the amount of the obllgation can be measured
reliablv.
Grants payable a￿ payments made to charitable organlsations in furtherance of the
charitable activities of the Charity. Single or multi-year grants are accounted for
when either the recipient has a reasonable expectation that they will receive a grant
and the Trustees have agreed to pèy the grant without condition.
2 Investment property
Investment land, which is land held to eam rentals andlor for capital appreciation, Is
Inltlally recognlsed at cost, whlch includes the purchase cost and any directly
attributable expenditure. Subsequently it is measured at fair value at the ￿PortIng
end date. The surplus or deficit on revaluation is recognised in profit or loss.
2 Flxed 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 incomellexpenditurel for the year.
Transartion costs a￿ expensed as inCur￿d.
Z Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks,
other short-tem liquid investments with origbnal maturities of three months or less.
and bank overdrafts. Bank overdrafts are shown within bO￿owingS in current

The David & Christine Lloyd-jones Found•tlon
Notes to the F5nancl•l Statement (Contlnued)
Page 15
Year Ended S April 2024
l Accountlng polldes
{Contlnued)
l Flnanclal Instruments
The foundation has elected to apply the provisions of Section I I 'Basic Financial
Instruments. and Sertton 12 '0ther Financlal Instruments Issues. of FRS 102 to all
ol its financial instruments.
Financial instrurnents are recognised in the foundation's balance sheet when the
foundation becomes party to the contractual provisions of the instrument.
Financial asset5 and liabilitie5 are offset, with the net amounts presented in the
financial statements, when there is a legally enforceable right to set off the
recognlsed amounts and there is an intention to settle on a net basis or to reallse
the asset and settle the liability simultaneously.
84sk Iln•n¢lal•$sets
Basic financial a55ets, which include debtors and cash and bank balances, are
Initially measured at transaction price Including transaction costs and a
subsequently Ca￿led at amortised cost usin9 the effective interest method unless
the arrangement constitute5 a financing transaction, where the transaction is
measured at the present value of the futu￿ receipts discounted at a market rate of
Interest. Financial assets cla551fied a5 receivable within one year are not amortised.
Bask Ilnanclalllabllllles
Basic financial liabilities, including treditors and bank loans are initially recognised
at transaction price unless the arrangement constitutes a financing transaction.
Whe￿ the debt instrurnent is measured at the present value of the future payments
dlscounted at a market rate of inte￿$t. Flnancial liabllities classlfied as payable
within one year are not amortised.
Debt Instruments are subsequently carrled at amortised cost, using the effettlve
interest rate method.
Trade creditors are obligations to pay for goods or serv1￿5 that have been acqulred
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 n0n-Cur￿nt liabilities. Trade creditors are recognise(l initially at
transaction price and subsequently measured at amorti5ed cost using the effertive
interest method.

The Davld & Christine Lloyd-jones Foundation
Notes to the Financial Statement {Continued)
Page 16
Year Ended 5 April 2024
l Accounting policies
(Continued}
Derecognition of financial liabilities
Financial liabilities are derecognlsed when the foundation's contractual obllgatSons expire
or are dlscharged or cancelled.
2 Income from investments
Unrestricted
funds
2024
Unrestricted
funds
2023
Income from listed investments
Interset receivable
50,555
70,609
45,062
27,167
121,164
72,229
3 Expendlture on raising funds
Unrestricted
funds
2024
Unrestricted
funds
2023
Investment management
8,331
10,722
4 Expenditure on charltable activities
Grant maklng Grant making
2024
2023
Dlrect costs
Grant fundlng of activities (see note 5)
6,614
342,316
Share of support and governance costs (see note 6)
Governance
112,717
71,083
119,331
413,399
Analysis by fund
Unrestricted funds
119,331
413,399

The David & Christine Lloyd-jones Foundation
Notes to the Flnancial Statement (Continued)
Page 17
Year Ended 5 April 2024
5 Grants payable
Grant making
2024
Grant making
2023
Eastham Memorlal Hall
St Mlchael and All Angels Church
Smilestar
16,000
(41,386)
32,000
34,000
308,316
6,614
342,316
6 Support costs allocated to activitles
2024
2023
Governance costs
112,717
71,083
Analysed between:
Grant making
112,717
71,083
2024
2023
Governance costs comprise:
Audit / independent examlner fees
Accountancy
Legal fees
Adminlstration fees
Bank charges
Consultancy fees
3,300
7,195
30,871
12,000
71
59,280
3,300
7,930
12,780
11,000
73
36,000
112,717
71,083
The costs above are incluslve of VAT as the charity is not VAT registered.
7 Trustees
None of the trustees (or any persons connected with them) received any
remuneration or benefits from the foundation during the year.

The David & Christine Lloyd-jones Foundation
Notes to the Finan¢lal Statement (Continued)
Page 18
Year Ended S Aprll 2024
8 Galn5 and losses on Investments
Unrestrlcted
funds
2024
Unre$trlcted
funds
2023
Gains l (losses) arfslng on-
Revaluation of invesments
Sale of Investments
321,441
3.074
(337,711}
151,7711
324,515
1389,4821
9 Taxatlon
The charity is exempt from taxatlon on its actlvities because all its intome 15 applled for
charitable purposes.
10 Investment property
2024
F•lr vjlue
Ar 6 Aprll 2023 and 5 Aprtl 2024
5,000
The Investment land was part of the assets donated during the prevlous year from the
estate of Mrs Christlne Lloyd- Jones and is including in the atcounts at probate value. The
Trustees are satisfied that the market value of this land is not materially different to thi5
value.
11 Flxed asset Investments
Llsted
Investments
Unllsted
Investments
Totsl
Cost or valuatlon
At 6 April 2023
Addltions
Valuation changes
Income reinvested
Disposals
4,309,280
131,712
336,418
87,990
{120,713)
74,358
4,383,638
131,712
321,441
87,990
(139,9041
(14,9771
(19,191)
At 5 April 2024
4.744.687
40,190
4,784,877

The David & Christine Lloyd-jones Foundation
Notes to the Financial Statement (Continued)
Page 19
Year Ended S April 2024
I l Flxed asset Investments
Icontlnued)
Listed
Unllsted
Investments Investments
Total
Carrylng amount
At 5 April 2024
4,744,687
40.190
4,784,877
At S April 2023
4.309,280
74,358
4,383,638
12 Debtors
Amounts f•lllng due wlthln one year
2024
2023
Trade debtors
19,191
1,283
13 Credltorl: Jmounts falllng due wlthln one year
2024
2023
Other creditors
Accruals and deferred Income
126,014
23,480
342,316
15,980
149,494
358,296
14 Unrestrlcted funds
The unrestricted funds of tha charity compris• thè un8x￿r￿j￿d bal8nce5 01 (k)n8tlOnS and grants which are nol
subiecl to specific condrtions by donots and grantors as 10 how thèy may ba usèd. Thes8 IncIL￿e designated
lund3 which have been set aside (#Jt of un￿tn¢Ied funds by Ihe Iwslees for speofic purposes.
At 6 Aprill Incomln9
2023
Resource5
Resources
expended
Galn5 and
losses
At 5 Aprll
2024
General funds
4,639,708
121.164
1127.662)
324,515
4,957,725

The David & Christine Lloyd-jones Foundation
Notes to the Flnancial Statement (Continued)
Page 20
Year Ended 5 April 2024
14 Unrestrlcted funds
(Contlnued)
Prevlous perlod: At 6 Aprlll
2022
Incomlng
Resources
Resources
expended
Galns and
losses
At 5 Aprll
2023
General funds
5.381,082
72.229
1424,1211
(389,482)
4,639,708
15 Rel•ted p•rty tr•nuctlons
One of the Trustees and the secretary to the Trustees are partners in Hi99s LLP. During the
period administration and legal fees were paid to Hi9gs LLP amounting to £12,000 and
£30,871. At 5th April 2024
£1 I, 100 was owed to Higg5 LLP.
One of the Trustees Is dlrector of Wychbury Lee. During the period accountanty fees of
£7,080 were Charged by Wychbury Lee. These fees were outstandlng as at 5th AprS12024.