THE DAVID & CHRISTINE LLOYD-JONES FOUNDATION
(A CHARITABLE INCORPORATED ORGANISATION)
Registered Charlty Number.. 1192499
TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR YEAR ENDED 5 APRIL 2025

The David & Christlne Lloyd-jones Foundation
Index to the Flnancial Statements
Year Ended 5 April 2025
Page
Reference and Administrative Information
3-10 Trustees, Annual Report
li
Independent Examiners Statement
12
Statement of Financial Activitie5
13
Balance Sheet
14-19 Notes to the Accounts

The DavSd & Christine Lloyd-jones Foundation
Page I
Reference and Administrative Information
Year Ended 5 Aprll 2025
Governing Documents
The Foundatlon Is a Charltable Incorporated Organisation,
its goveming document being a Constitution (Foundation)
dated 24 November 2020.
The Foundation Is registered with the Charlty Commlsslon
under registered charity number 1192499.
Trustees
Nicholas Moxon (Chalr of Trustees)
Chrsstopher Douglas Lee
Emma Louise Grifffin
Secretary to the Trustees Ms Kirsty McEwen
Sollcltors
Hlggs LLP
3 Waterfront Business Park
Brierley Hill
West Midlands
DY5 ILX
Independent examlner
Haine5 Watts
sterllng House
97 Llchfield Street
Tamworth
B79 7QF
Investment managers
Mr Jon Lowe
st James, Place Wealth Management Limited
96A Worcester Road
Hagley
stourbrldge
West Midlands
DY9 ONJ
Bankers
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hlll
West Mailing
Kent
ME19 4JQ
Flagstone
1st Floor
Clarevllle House
26-27 Oxendon Street
London
SWIY 4EL

The David & Chri$tlne Lloyd-jones Foundation
Page 2
Reference and Admlnlstratlve Informatlon
Year Ended S Aprll 2025
Project management consultants
Ms J Cagney
Morgan Thomas Ltd
One Victorla Square
Blrmingham
BI IBD

The Davld & Christine Lloyd-jones Foundatlon
Page 3
Trustees Annual Report
Year Ended 5 Aprll 2025
The Trustees present their annual report and ffinancial statement5 of the Foundatlon for the
year ended 5 April 2025. The financial statements have been prepared in èccordance with
the accounting policies set out In the accounts and to comply with the Foundatlon's
Governing Document, the Charities Act 2011 and the Statement of Recommended Practice
applicable to the charities preparing their accounts with the Flnancial Reporting Standard
applicable on l January 2019.
strurture, Governance and Management
The FoLsndation is a Charitable Incorporation Organlsation {CIO), reglstered with the
Charity Commlssion on 24 November 2020 under registered charity number 1192499. The
Foundation is consts"tuted under a CIO Foundation dated 24 November 2020 ("the
Governlng tklcument"). It was set up to honour the memory of David and Christine
Lloyd-jones.
The Foundation does not actlvely fundraise and seeks to continue the charltable work
desired by the Settlor through the careful stewardship of its existing resources.
Trustees are appolnted for a term of office for five years. Wlth no maxlmurn number of
terms of offtice. Trustees, terms of office took effect from their cur￿rnt term of office as
served at the date of CIO Foundation on 24 November 2020.
The Governlng Document provlde5 for there to be a minimum of three Trustee5 and a
maximum of nine Trustees.
The quorum at any meeting of the Trustees 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 actlvlties for
the Foundation, includbng consideratlon of grant making, investment, reserves and rlsk
management policies and performance.
The day-to-day admlnlstration of grants and the processing and handllng of appllcatlons
prlor to consideration by the Trustees is delegated to Secretary with support from Morgen
Thomas Ltd. Morgen Thomas Ltd will consider the monitoring Information concerning the
performance of grants to date and make recommendations to the Trustees concerning the
extension, ce55ation or suspension of existing grant approvals.
The Trustees would take account of the recommendatlons of the ICSA best prartlce guide
'Recruitment, Appolntment and Induction of Charity Trustees, should the need to recrult
new Trustees arise. The Trustees would look to recruit in light of an approprlate skills
audit 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 beneflt and
beneficial c5asS.

The Davld & Christlne Lloyd-jones Foundation
Page 4
Trustees Annual Report
Year Ended 5 Aprll 2025
New Trustees may be sought by open advertlsement or through a dialogue with major
grant reclpients and local community groups respecting the ethos of the Foundation to
continue the charltable work Intended by the Settlor, the Trustees artlvely seek those wlth
a knowledge of the local area when considering any prospectlve candidate. The ultimate
decision on selection is a matter for the Trustees.
On appointment new Trustees sign a Trustee Declaration and Urbdertaking commltting
them to the giving of thelr time and expertise. It also conflrms their ability to act in the
role of Trustees. The induttion process has been changed to follow the ICSA good practice
guide with a formal induction programme for any newly appointed trustee belng le(J by the
Secretary, to include Initial training in the grant making proce5S, the duties and
responsibilltles of the Trustees and the role of any SLJb committees. The welcome pack
includes, amongst other information and guidance, a brief hlstory of the Trust, copy of
recent Trustee minutes, a copy of the last three years of annual reports and accounts, a
copy of the Governing Document and a copy of the Charity Commission's guldance 'The
Essential Trustee.. What You Need to Know, and 'Charities and Public Benefit,.
The Trustees have reviewed during the year the Code of Conduct and Tenns of Reference
whlch formalise their roles and responsibilities.
The Trustees intend during Ihe next financlal year to consider with the support of the
Secretary the Charity Governance Code as part of reviewlng best practice in terms of their
governance arrangements.
All Trustees glve of thelr time freely and no Trustee remuneration wa5 paid In the year.
Trustees are entitled to clalm reasonable out of pocket expenses and where they do those
re noted In the account5.
Trustees are required to dlsclose annually (and as they arise) any potential Interests which
might conflitt and reglster them with the seC￿tary and in accordance with the
Foundation's written Conflicts of Interest Policy.
Risk Management
The Trustees have considered the major rlsks to which the Foundatlon Is exposed and have
reviewed those risks and established systems and procedures to manage those risks.
The major financial risk is the variability of investment retums on the portfolio and its
Impact on income levels and capital growth. The Trustees have actlvely sought to manage
this risk by appointing St James Place Wealth Management (Mr J Lohve) as Discretbonary
Manager of the Investment portfolio. The Trvstee5' role is to monitor the performance of
the portfollo, to take appropriate artlon to mitigate any 1055 to the portfolio, and to ensure
that the objectives as detalled in the Jnvestment Policy Statement are followed and
reviewed annually.
The major operational risk Ss the extent to whlch grants awarded to charitable or not for
profit organisatlons adVan￿S the objects of the Foundatlon and demonstrate sufficient
public beneflt. The Foundation has managed its risk by retaining Trustees of sufficient
expertise and experfence, and through the quality of the institutions and the people who
they support. In addition, the Trustees rely on the Secretary and Morgen Thomas Limited

The David & Christine Lloyd-jones Foundation
Page 5
Trustees Annual Report
Year Ended 5 April 2025
to undertake appropriate and proportlonate due diligence on appIl￿tIonS and ensure all
grant glving retalns a focus on the public beneflt.
The grant application process is revlewed annually and the grant application form
expanded to collect the necessary due dlligence Information that Is required in order to
establish tax residency status of all grant reciplents. This includes additlonal informatlon
Including tax resident jurlsdlctlon and entity status. The Trustees will keep thls under
review.
Objects and Actlvltles for the Public Benefit
The objects of the Foundation are "to advance such charitable purposes (according to the
law of England and Wales) as the trustees see fit fmm time to time.
The Trustees conflrm that they have referred to the guidance contained in the Charlty
Commission's general guidance on public benefit when reviewing the Foundatlon's objects
and purposes dnd in plannlng future activities and setting the grant making pollcy for the
year.
The Foundation carries out these objects by providing grants to charitable or not for proflt
organisation5 in line with its current grant making policy, ensuring the greatest impacts
can be achieved and the generosity and memory of David and Christine Lloyd-jones can be
honoured to the fullest.
The objects and activltles of the Foundation are largely determined by the provision of the
Governing Document, and frorn there the Trustees exercise a discretion in consldering how
best to meet the public benefit test and ensure that as many charitable ond not for profit
organisatlons with partlcular needs will galn Odvontage.
By focusing on these areas, the Foundation achieves its strategic priority of malntaining a
stable grant m8king programme.
Grant Maklng Pollcy
The Trustees have power to spend the income and capital in furtherance of the objects.
The Foundatlon has established its grant making policy to achieve its objects for the public
benefit, support charitable and not for profit organisatlons operating within England and
Wales, with a preference being glven to charitable or not for proflt organlsations operatir)g
in Worcestershire. The Trustees revlew the grant making policy annually to ensure It
reflects the Foundatlon's objects and thereby advances public beneffit.
The general policy of the Trustees is not to give retrospectlve grants and the Trustees wlll
only consider one applicatlon per year from any applicant.

The Davld & Chrlstlne Lloyd-jones Foundatlon
Page 6
Trustees Annual Report
Year Ended S April 2025
Grant Maklng Procedure
Applications can only be consldered if they are on the Foundation's Standard application
form.
The applicatlon fomi must be completed and returned (together wlth a copy of any
supporting information ￿levant to the application) to Morgen Thoma5 Ltd at least four
week5 before the meeting at which the application Is to be consldered.
The Trustees meet at least two times a year to conslder appllcatior)s.
It Is the policy of the Trustees is to consider grants on an equal opportunitles basS5.
regardle55 of gender, religion and ethnic background.
Public Benefit
The Trustees confimi that they have referred to the infomiation contained in the Charfty
Cornmlssion's general guidance on public benefit when revlewi ng the Foundation's objects
and actlvltles, thelr grant making policy and plans for future period.
The objerts and activltles of the FoundatSon are largely determined by the pmvlslons of the
Governing Document, and from there the Trustees exercise a dlscretion in considering how
best to meet the publlc benefit test and ensure that as many individuals and tharitable and
not for profit organisations (for exclusively charitable purposes) benefit,
Monitoring and Achlevernent
The Trustees have continued 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-tem obj'ectives to meet income needs and grow the capital remaln
obtainable.
During the year the perfomiance of the prlnclpal investrner)t portfollo was managed by St
James Place Wealth Management Limlted and was considered satisfactory wlth all
benchmarks being largely achieved.
Grants awarded during the period are listed on page 16 in the accounts.

The Davld & Chrlstlne Lloyd-jones Foundation
Page 7
Trustees Annual Report
Year Ended 5 Aprll 2025
The decislon was taken by the Trustees to treat the Trust as expendable as to Income and
capital, with the vlew that the capital should be spent down over a period of a maximum of
five years, in 5UPPOrt of slgnlflcant capltal projerts, wlth maxlmum impact. The reasons for
this decision were as follows..
There belng no surviving relatives of Chrlstine Uoyd-jones who mlght want to be
involved in the Foundation, who might prefer to see her remembered over the
longer term.
Significant impart can be made by an eady allocation of the capltal to projerts that
fulfil the Settlors, wishes.
Investment returns are at historically low levels and annual admlnlstration, legal
and investment COSt5 which mlght erode the spending power and potential income
of the Trust over time.
The Trustees, focus is on supporting charitles and not for profit organisations for
excluslvely charitable purposes wlthin the area of benefit, with the following prioritles
belng key:
the advancement of educatlon;
the advancement of rellglon,.
the advancement of citizenshlp or communlty development;
causes whlch support military personnel and veterans. and
national causes where there Is specific ber)efit wlthln the 'area of benefit,.
The Trustees have determined the 'area of beneflt, to be the West Mldlands, wlth a
particular focus on charities and not for profit organlsatlons whose objects or charitable
activities or projects are focused in Worcestershire.
The Trustees are pleased to report that grant-maklng activlties durlng the year have
remained aligned with the Settlor's wlshes, concentrating on major projects that deliver
meaningful publlc benefit, especially in Worcestershire and Tenbury Wells. Notable
nltiatives supported by the Foundation include Smilestar, which works in partnership with
The Royal Marines Charity. This charity provides essential dental care to disadvantaged
communltles in Afrlca and Asia, with missions staffed by volunteers from dental practices
and supported by Royal Marine veterans. The involvement of veterans, many of whom are
Ilvlng wlth PTSD and other disabllitles, not only enhances the delivery of dental ServI￿S
but also offers these individuals valuable opportunities for personal growth and
rehabilitation.

The Davld & Christine Lloyd-jones Foundation
Page 8
Trustees Annual Report
Year Ended 5 Aprll 2025
Further grant support ha5 been directed to WOr￿Ster Snoezelen, a centre dedicated to
providing specialist artivitles and 5UPPOrt for indlvlduals of all ages with disablllties wlthln a
fifty-mlle radius. The Foundation's backing is facllltating a significant extension to the
centre, aimed at increasing its capaclty and improvlng its facillties to better serve the local
community.
The Trustees have a150 Supported the Severn Rivers Trust, an envlronmental charlty active
in the River Severn catchment area. The Foundation's contrlbutlon 15 enabllng three key
projects.. a river regtoratlon initiative along the RSver Teme to c￿ate new habitats and
mitigate flooding; a woodland planting scheme to further address floodlng and fgster
community engagement in creating green blue spaces; and the development of rain
gardens in three primary schools, complemented by an educational programme offering
children practical learning experiences outside the classroom.
The principal focus of the Trustees throughout the year has been the advancement of a
lelsure and community hub in Tenbury Wells. This project is designed to address the needs
of young people, promote 5POrting opportunities, and enhance community Inclusion.
Following a comprehensive feasibility study, the concept is being refined with the intention
of submitting a planning application in late 2025. As this constitutes a substantial
construction project, the Trustees anticipate it will requlre the majority of available
resources, and future grant-making wlll be reviewed once this flagship initiative has been
realised.
Financlal Revlew
The Foundatior)'s work Is entlrely rellant on income and returns from its capital. As at 5
April 2025, the value of the capital fund stood at £4,448,549 represented by the market
value of the Investment portfolio of £4,323,255, the value of investment land of £5,000
and net current assets of £120,294. Dur¢ng the year the investment Income of the
Foundation amounted to £71,997.
Investment Pollcy and Performance
The Investment powers of the Trustees are wide and allow the Trustees to invest funds In
any manner (after taking such advice as they consider necessary) and havlng regard to the
sultability of investments and need for diverslficatlon.
The principal investment holdings of the Foundation comprise funds and portfolios of
quoted securities. As at 5 Aprll 2025, the value represented IOOO/o of the Foundation's
investments. The management of the portfollo is undertaken on a dlscretionary
management basis by 5t James Place Wealth Management Limited and the written
investment policy Is reviewed on at least an annual basis by the Secretary in conjL*nction
with the investment managers and ultimately approved by the Trustees.
As at the year end the Trustee5 held cash on deposlt wlth Rowan Dartlngton of £18,828
and cash in the bank of £143,239 which is spllt between CAF Bank and Flagstone Gmup.

The Davld & Christine Lloyd-jones Foundatlon
Page 9
Trustees Annual Report
Year Ended 5 April 2025
Reserves Policy
The whole of the Foundation's capital Is expendable and this distinrtion between capltal and
income is not relevant. The Trustees appreciate that the general principles of charity law
require Trustees to sper)d their Income withln a reasonable period of receipt.
The Trustees have set and agreed a policy whlch broèdly Identifies the framework withln
which the Foundation will operate its reserves. The intentbon Is that the Foundation wlll
retain an approprlate and reasonable level of reserves whilst conojrrently ensuring that It
uses the income in a manner that is wlthln the objects at the best Interests of the
Foundation and its beneficiarles.
Slnce the Foundation receives all of its income from the investment portfolio, the Trustees
are mlndful that the source of Income can be volatile and subject to sudden changes In the
market. They are concerned that In any year there is a risk that they cannot meet their
ongoing administration and professional expense commitments as and when they arise,
due to any fluttuations In the market which may prevent or significantly reduce income.
The Trustees have therefore considered, In conjunction with the professional advisers, the
level of reserves to retaln from surplu5 unrestricted funds. They have decided to build up
pot of reserves equivalent to one yearf5 administrative and professional expenses but
excluding 9rant commitments. Thls will ensure that should there be any flurtuations in the
market which reduce the income available for distribution, the Foundation can use its
reserves to contlnue to meet its obligations and liablllties as and when they fall due.
Plan for Future Periods
The Trustees believe their grant5 have translated Into Significant publlc benefit. The
Foundation Is a lasting testimony to the generosity and charitable concerns of the Settlor.
In cemer)ting the arrangements already in place, and continuing wlth its current activities
as set out in this report, so that the many and varied charitable and not for profit
organisatbons may continue to beneflt in real terms from Its financial support, the
Foundation alms to provide a longer term commitment and thereby encourage and sUPPOrt
charitable and not for profit organlsations.
The intention Is to continue a programme of grant glving which wlll translate into significant
public benefit. The Trustees will focus on those organisatbons who would benefit in real
terms (impact) from its financial support, thus providing and ensurlng a longer-term
commitment to support.

The Davld & ChrSstine Lloyd-jones Foundatlon
Page 10
Trustees Annual Report
Year Ended 5 Aprll 2025
Trustees. Responsibilities in Relation to the Financlal Statements
The Trustee5 are responsible for preparing the Trustees, Report and the financlal
Statements in accordance with applicable law and regulatlons and Unlted Kingdom
Accounting Standards. The law applicable to charitie5 in England and Wales requlred the
Trustees to give a true and fair view of the state of affair5 of the Foundation and of the
Incomlng resources and applicatlon of resources, includlng income and expendlture of the
Foundation for that period,
In preparing these flnanclal statements, the Trustees are required to-
select sultable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP,.
make judgements and estimates that are reasonable and prudent..
state whether applicable acwunting standards have been followed, subjert to any
material departures disclosed and explained in the financial statements; and
prepare the financlal statements on the golng concern basis unless It is
inappropriate to presume that the Foundation will contlnue in operation.
The Trustees are responslble for keeping adequate accounting records that are sufficient to
show and explain the Foundation's transactlons and disclose wlth reasonable accurary et
any time the financial position of the Foundatlon and enable them to ensure that the
financial statements comply with the Charlties Act 2011, the Charlty (Accounts and
Reports) Regulations 2008 and the Governing Document.
They are also responsible for safeguarding the assets of the Foundation and hence for
taking reasonable steps for the prevention and detectlon of fraud any other Irregularitles.
The Trustees are responsible for the maintenance and integrity of the Foundatlon and
financial information included on the Register of Charftles.
Approved by the Trustees and slgned on their behalf by:
Moxon
Chair

The Davld & Chrlstlne Uoyd-Jone5 Foundation
Independent Examlner's Report to the Trustees ol The Davld & Chrlstlne Lloyd-jones
Foundatlon
ForThe Year Ended 5 Aprll 2025
I report to Ihe trustees ￿ my examln•tlan ol the accawtj of The Oè¥fjd & Chd5tine Uoyd-jones Founoètlon Ithe Trust) for
the year ended 5 Aprll 2025.
A•gpon#lblMt1•5 and of R•port
As the charfty's trust￿ you ar¢ re$ponsI￿e for the prepaotlon ol lh* attounts in accordance wlth the reoulrerTrents of the
Charftles Art 2011 fthe Artl.
I reptsrt *1 respett LY my exafflnatlon of the ch•rfty'S a¢counts cathed out under sertityn 145 01 the and In cèrrylng my
examlnatlon I have followed all the apk4ltable Direttions glven by the Charity Commission Se￿On 14515llbl of the Act.
Znd•p¢nd*nt Ex•mlMr'* 3tat•m•At
I have comp*ted my examlnation. I conflrni that no motviol ffl3￿r$ have come to my ottentkm in ¢onntth•n y￿th thE
exarlnotlpn givin9 m¢ cbuseto bellevethat In ony motertal resp¢rt'.
l. accounting reryrds were not kept h rwct of rhe ThJsr a$ requlred by seth0Tr 130 of the Att; or
2. the aC¢Dunts do not wilh those re¢ords.' or
3. the accounts do not cornpty wlth the applltable requirements concernbng the forrn and contents of occounts ser out In
the Chatltles (Accounts and Reports) Regulations 2008 other than ony r¢4uiremertt that the accounts glve a Irue and
f•ir ￿tw. wNth Is not a rnatter ccffj¥dered as part of Sn in¢Jependent exornI￿￿On.
I have no con¢ems
drawn In th￿ re
have tome atross no other matter5 in connectoon with the examlnatlw to whith Jttwtion $￿vIll be
tp •nOb￿ a woper understandlng of the accounts to be rtaehed.
O•Tr
Bartow foi ènd M behafofTC frnp
0410212026
TC Group
Steding House
97 Uthfield StrEet
Tamworth
679 ?QF
P•9¢ 11

The Davld & Christine Lloyd-jones Foundation
statement of Flnanclal Actlvltles
For The Year Ended 5 April 2025
2025
2024
Unrestrlrtod Unrestrltted
funds
funds
Notes
INCOME AP40 ENDOWMENTS FROM:
Investments
71.997
121,164
EXPENDITURE ON:
Raising funds
Charitable artivities,.
Charitable activities
Govemance costs
{10,5371
18,3301
{628,4861
114,760}
ILO8.8361
110,4951
{653,7831
1127.6611
NET ExpeNDITURE BEFORE INVEsfMeNT LOSSES
Net gains on investments
1581,7861
72.610
16,4971
324,515
ExpeNDJTURE
1509,1761
318,018
NET MoveMENT IN FUNDS
RECONCILIATION OF FUf4DS'.
Total funds brought forward
1509.1761
318,018
4.957.725
4,639,707
TOTAL FUNDS CARIUED FORWARD
13
4.448.549
4,957,725
The notes on page5 10 to 14 fom part of these finantièl statements.
Page 12

The Davld & Chrlstlne Lloyd-jones Foundatlon
Balance Sheet
As At 5 April 2025
2025
2024
Unrestrirted
funds
Total
funds
Not
FIXED ASSErs
Investmenl Propertles
Investments
5,000
5,000
4,323,255 4.784.877
io
4,328,255 4.789,877
CURReNT ASSErs
Debtors
Cash at bank and in hand
li
19,191
298,152
143,239
143,239
317,343
Credltors: Amounts F•lllng Due Wlthln One Year
12
122.945) 1149.495)
NET CURRENT ASSETS ILIA81LITIES)
120,294
167,848
TOTAL ASSETS LESS cuRRETr￿ LIABILTfIES
4,448,549 4.957,725
NET ASSETS
4,448,549 4,957.725
FUNDS OF THE CHARITY
Unre5tritteé Funds
4,448,549 4.957.725
TOTAL FUNDS
13
4.448,549 4.957.725
On behalf of the board
Nicholès Moxon
Trusree
0410212026
The notes on pages 14 to 19 ftsm part Cif these financial statements.
Page 13

The David & Christine Lloyd-jones Foundation
Notes to the Financial Statements
For The Year Ended 5 Aprll 2025
l. G¢ner•l Informatlon
The Davld PA Christine Lloyd-jones Foundatlon is a charitable incorporated organisation registered wlth the Charlty
CommSs5ion on 24November 2020, registered charity number 1192499. The principal address is 3 Waterfront 8usiness Park,
Brierly Hill. DY5 ILX.
2. At¢ountihy Pollcles
2.1. 8asls ol Preparation vf Flnandal Statements
The financial statetnEnts have been prepa￿￿ in accordance with the Chantles SORP (Ffis 1021 "Accountlng and
Reporting by Charities., Statement of Recommended Practlce applicable to charities prÈparlng their accounts In
accordance with the Financlal Reportin9 Standard applicable In the UK and Republlc Of T￿land IFRS 1021 leffettive I
January 20191. Financial Reportin9 Standard 102 'The Financial Reporting Standard applicable In the UK and Republic
of Ireland and the Charities Act 2011.
The charlty Is a Publlc Beneflt Entity as defined by FRS 102.
The foundatioTh has tsken advantage of the provisions in the SORP for tharities not to produce a Stotement of Cash
Flows.
The financial Statements are prepared in Sterllng, which is the functional currency of the foundatlon. Nonetary
amouTht5 in these finan¢lal statements are rounded to the nea￿t £.
The fiThancial statements have been p￿pa￿d under the h&torical c05t convention, modified to include the revaluation
of freehold land and certaln financial instrvments at falr value. The principal accounting pollcles adopted are set out
belosy.
2.2. Goln9 Concern DI￿10¥Ur*
The trustees have not identifled any materf41 uncertainties related to events or conditlons that may cast slgnlflcant
doubt about the charity's ablllty to continue as a going Con￿￿.
2.3. Fund Ar￿u￿tIng
Unrestricted funds are available for use at the discretion of the trustees In furtherance of their charitable objectives. At
the year end all of the fund5 of the foundation are unrestricted.
2.4. Incomlny Re￿ur
Income is recognised when the foundation 15 legally entitled to It after any performance conditions have been rnet, the
mounts can be measured reliablyi and it is probable that the income will be recelved.
Cash dtrnatlons are recognised on receipt. other donations are recwnised once the foundation has been notified of the
donation. unless performante condltlons require deferral of the amounr. Income tax recoverable in relètion to
donations recelved under Gift Aid or deeds of covenant is recognlsed èt the tlme of the donaknon.
2.5. Resourres Exp•nded
Expenditure is recognised once there 15 a lÈgal or constructive obligation to transfer economic bertfit to a third party,
it 15 piobable that a transfer of ecanomic benefits will be required in sett5ement, and the amount of the obligation can
be measured reliably.
Grants payable are payments made to charitable oryatbisations In furtherance of the charitable artivities of the Charity.
Single or multi-year grants are accounted for when either the reclpLent has a reasonable expectation that they will
recelve a grant and the Trustees have agreed to pay thÈ grant without condition.
2.6. Invoslmont Prop•rtles
Investment land, which 5s land held to earn rentals 8nd/or fDr cap¢tal appreciation, 15 Illlti8lly ￿COgniSed at Cost, whith
include5 the purchase cost and any directly attributèble expenditure. Subsequently it is measured at fair value at the
reporting end date. The surplus or deficit on rev8lu8tlon is recognised in profit or loss.
2.7. Inve$tm¢nts
Fixed asset investments are Inltially measured at transaction price excludlng transaction costs, 4nd are subsequently
measured at falr value at each reporting date. Change5 in fair value are recognised in net incomellexpenditurel for the
year. Transaction costs are expensed as Incurred.
Page 14

The David & Christine Lloyd-Jone$ Foundatlon
Notes to the Financial Statements (continued)
For The Year Ended 5 April 2025
2.8. Cèsh and Cash Equl¥al¢nt$
Cash cash equSvalents are basic financial assets )nr5 include cash in hènd and dep051ts held at call with LJanks.
other 5hort-temi hlghly liquid investments that mature in no more than three rnonth5 from the date of acquisltion and
are readily convethble to a kTrown arllount of cash wlth Insignificant risk of change In value.
Bank averdrnfts are shown within borrowings in current liabilities.
2.9. Flnancial Instruments
The foundatlon ha5 elected to apply the provlslons of Sectlon Ll'B45ic Financial Instruments. and Section 12'0ther
Flnancial Instrurnents L55ues' of FRS 102 to 811 of Its flnanclal In5trument5.
Financial instruments are recognised in the foundatlon's balance sheet when the founclatlon becomes party to the
cthtrartual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there ￿ a
legally enfOr￿a￿e right to set off the recognised amounts and there 15 an intention to settle on a net basls or to
realise the asset and settle the Iidblllty slmultaneously.
slc Ilnancial 4Tssets
BasSc financial assets, which intlude debtors and cash and bank balances, are initially measured at transaction pri
Sncluding transaction cost5 and are subsequently carried at amortlsed cost using the effertive interest method unless
the arrangement ccn5titutES a financing transaction. where the transaction is measured at the present value of the
future receipts di4counted at a market rate of Interest. Financial a55et5 classified as recelvable within one year are not
amortised.
8aslc ffnaftdalllabHIUes
Basic financièl Iiabilltles, includlng creditors and bank loans are Initlally recognised at transaction prSce unless the
arrangement constitutes a financln9 transèrtion, where the debt Instrument Is rnea5ured at the preseTht value of the
future payments dI$￿￿nted at a market rate of Interest. Financlal Ilabilities classified as payable wlthin one year are
ot amort15ed.
Debt Instruments are subsequently carried at amtsrtlsed cost, using the effective interest ra* method.
Trade creditors are obligatlons to pay for goods or services that have been acquired In the ordlnary course of
operntions from Suppliers. Amounts payable are classified a5 current 11abllltles il payment is due within one year or
less. If not, they are presented 3$ non-current liabilities. Trade creditors are re¢ognlsed initially at transaction price
and subsequently rnea5ured at amortised cost using the effective Interest method.
Derecognition of rtnanclal Ilabllltles
Financial liabilities are derecognlsed wheTh the foundatiDn's contractual obligations expire or are discharged or
cancelled.
2.10. Taxatlon
The charity is exempt from tax as all its incorne is chartsble and applied for charitable purposes.
3. Investment Income
2025
2024
UTrrestrlrted Unrestrtcte
funds
funds
Dividends from investments
Other interest receiva￿9
60,674
11,323
50,555
70,609
71,997
L21,L64
Page 15

The David & Christine Lloyd-jones Foundation
Notes to the Financial Statements (continued)
For The Year Ended S Aprll 2025
4. Analysis of Expendltswe
2025
Gr•nt
fundlng of
actlvltl•s
(see note 51 (see note 6}
Actlvltles
undertaken
dlr*¢tly
Support
Total
R6i5ing funds
charitab￿ activfjtles
Governance costs
10,537
10,537
628.486
14,760
474.000
154,486
14,760
10,537
474,000
169,246
653,783
2024
Grant
fundlng of
Support
actlvltles
Costs
(see note 51 {see note 61
Activities
undertaken
directlv
Total
Raising funds
Charitsble activltles
GovemaThce costs
8.330
8,330
108.836
10.495
6,614
102.222
10,495
8.330
6,614
112,717
127.661
S. Gr4nts Payabl•
2025
2024
Grants to
Grants to
In$tltutlons Instltut14)ns
Charitable activlties
474,000
6.614
Grants paid to institutions, Included above, are as follows-.
2025
2024
Ea5tham Memorial Hall
St Michael and All Angels Church
Smilestar
SeverDRivers Trust
The UIy55es Trust
116,0001
41.386
{32,0001
(64,0001
IL60,(N)01
1250,0001
1474,(H)01
16.6141
Page 16

The David & Chrlstlne Lloyd-jones Foundatlon
Notes to the Flnanclal Statements (continued)
For The Year Ended 5 April 2025
6, Support Costs
2025
Ch•rltable
•¢tlvltl¢s
Governance
Total
General administratlon
Governance costs
79
79
154,407
14,760
169,167
154,486
14,760
169,246
2024
Ch•rftabl•
rtivltl¢$
GO￿rnanCe
¢<*Sts
Generdl administratyon
GoverThance costs
71
71
112,646
L02,151
10,495
L02,222
10,495
112,717
7. Indep￿dent Examiner's Romuneratio
2025
2024
Independent examination of the financial 5taternents
3,300
3,300
8. Av•r•gè Number of Employees
Average number of empbyee5 during the year was.. NIL12024.' NIL)
9. In¥•stm•nt Property
2025
Fair Value
As at 6 Aprll 2024 and 5 Apnl 2025
5,000
The investment land bvas Part of the assets donated from Ihe estate of Mrs Christine Lloyd-lones and is included in the
accounts at probate value. The trustees are satsified that the market value of this land is not materially dlfferent to this value.
10. Invutments
Li¥ted
Unlisted
Totsi
Cost or Valuation
As at 6 April 2024
Disposals
Fair value adjustments
4.744.687
1497,0981
72,610
40,190
137.1341
4.784,877
1534.232)
72.610
As at 5 Aprll 2025
4.320.199
3,056
4,323.255
Provision
As at 6 April 2024
As at 5 April 2025
.CONT]NUED
Page 17

The Davld & Christine Lloyd-jones Foundation
Notes to the Financlal Statements (continued)
For The Year Ended 5 April 2025
Net 8ook Value
A5 at 5 April 2025
4,320,199
3,056
4,323,255
As at 6 April 2024
4.744,687
40,190
4,784,877
11. Debto
2025
2024
Due within tyne year
Trade debto
19.191
12. Creditors: Amounts FalSlng Due Within One Year
1015
2024
Trade creditors
Other ¢rediiors
Accwals
1.140
9,303
12.502
ii.ioi
126,014
12.380
22,945
149,495
13. Movement In Fund5
As •t 6 Aprll
2024
As #t 5 Aprll
2025
Income
£xp•ndltur•
Unr¢strlcted funds
General..
Generdl unrestrlcted fund
4,957,725
71,997
1581.173}
4,448.549
Total
4.957,725
71,997
IS81,173}
4.448,549
AS at 6 April
2023
As at 5 April
2024
Income
Expendlture
Unrestrfcted funds
General..
General unrestricted fund
4,639,707
121.164
196,854
4,957,725
Totsl funds
4,639,707
121.164
196.854
4,957,725
14. Tranaaclions Wlth Tru$tees
None of the trustees recelved any remuTheratioth or any other benefits from an employment with the charity or a related entity
during the Current or previous year.
No trustee expenses have beern Incurred.
15. Related Party Di$¢losures
One of the Trustees and the secretary to the Trustees are partners at Higgs LLP. During rhe perlod administration fee5 of
£13,140 12024 - £12,000) and legal fees of £62,728 12024- £30,871) were paid to Higgs LLP.
One of the TNstee5 is a director of Wychbury Lee. DurSng the ￿rIOd ac£ouThton¢y fees of £11,46012024 E7,0801 were
charged by Wychbury Lee. These fees vlere outstanding at the year end date.
Page 18

The David & Christine Lloyd-jones Foundation
Detailed Statement of Financial Actlvlties
For The Year Ended 5 April 2025
2025
2024
Total
funds
Total
funds
INCOME AND ENDOWMENTS FROM:
Investments
Dlvidends frotn other fixed asset Inve5tments- listed
Interest receivable
60.674
11,323
50.555
70.609
71.997
121,164
71,997
121.164
EXPEF4DITURE ON:
R•lsing funds
Investment management Costs
{10,5371
{8,3301
(10,5371
18,330)
Charltablq Artivitse$:
Ch•rlt4ble activities
Grants payable
Bank charges
Legal fee5
Consultancy fees
Administration fee5
1474,000}
179}
162.727)
<78,540)
113,140)
1628.486)
16,614)
1711
130.8711
159,2801
112,0001
1108,8361
Govemance costs
Independent examiner's fees
Accountsncy fee5
13,300)
{11.460)
13,3001
{7.195}
{14,760)
110,4951
1653,7831
{127,66L}
NEf EXPENDfTVRE BEFORE INVESTMENT LOSSES
{581,7861
(6.497}
Net galns on Inve5tm•nts
(Deficitllsurplus on disposal of Ilsted fixed asset investments
Surplus on revaluation of Investments
121.0511
93,661
3,074
321.441
72.6LO
324.515
NET (EXPENDITURE)/INCOME
1509.1761
318.018
Page 19