Char5ty number., 1193157 LORDS GROUP FOUNDATION UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
LORDS GROUP FOUNDATION ' CONTENTS Page Refèrence and admlnlstratlve details of the Foundatlon. Its Trustees and advl$er$ Trustees. report Statemènt of flnancl81 actlvllles Balance sheet Notes to the flnan¢lal statements 8-14
LORDS GROUP FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE FOUNDATION, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees S B Patel, Chsli C M Day Iresigned 17 May 20241 R Dewan J K Harris Iresigned 12 July 20241 A Prince lappoinled 10 April 20241 A Lowndes (appointed 2 January 20251 Charity reglstered number 1193157 Prln¢lpal office 12-15 Hanger Green London W5 3EL Accountants Adler Shlne LLP Chartered Accounlanls Aston Hous8 Cornwall 8venue London N3 ILF Page 1
LORDS GROUP FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The irustees Present their annual report together with the financial slalemtrnls of th8 Lords Gioup Foundation Ilhe CIO) ftsr lh& financial year 1 January 2C124 10 31 December 2024. Oblactives and acllvltles a. Pollclès and oblectlves The objects ol Ihe CIO are lo furlher 5u¢h purposes which may be charitable OCCOfding lo Ihe law ol England and Wales as Ihe Iruslees see fil. The CIO'S slated aims are lo build 51ionger communities wilhin Ihg UK by supporting projects and assisting in the provision ol lacililies. including community cenlres, in the Interest of Social welfare of community groups who have need of such facilities by reason ol their youth, age, infirmity OT disabilily, financial hardship, or social circumstances wllh the objèct of improving Iheir quality ol life. The Iruslees will consider applicalions from organisalions and charlties which are local lo business siles. In selling object4v8s and planning lor aclivili8s, the Iruslees have given due considerallon lo gentrral guidance PLJblished by the Charity Commission relating lo public benefit, including the guidance 'Public benefil.. running a charity IP821'. b. Strategies for achlevlng oblectivps The CIO was established on 19 January 2021 with wide objects enabling grants lo be made lor a range of charilable purpc>s85. Grants can be made for many different purposes. The Ifuslees wlll nsider applications Irom organisalions and other charllies including applicallons made by individuals ori behslf of organisalions and other ¢hafilles. They will consider applications for support towards capital projÉcts, other projects Dr core costs. However, th8 purpose musl have a diiecl chafilable benelil. The Iruslees will also consider supporling the lundraislng efforts of a charity by providing matched funding lor ¢olleagues of Lords Group Trading Plc. c. Actlvllles undèrtakèn to achleve obltrctlves During ihe period the CIO made £69.6 12023 £122,823) in grants lo charitable organisalions which Ihe Iruslees believe lo advance tho ¢haiily's objectives. Page 2
LORDS GROUP FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Oblectives and aclivllles Icontlnuedl d. Grant-maklng pollcl8s The Iruslee5 have a loimal granl-making tx)licy used lo determine whether the CIO will fund submilled projects. Slandard terms and conditions aTe applied.. Grants from the CIO are feslricled lunds unless otheIse spedlied. They may only h& ustrd towards the project oulllned In Ihv application submilled or subsequently agreed in writing. An organisalion or eharity will acknowledge in writing usi[ ils headed paper r8celpl ol the gfanl and conlSrm that the grant will be usgd lor Ihe approved purpose. Any surplus funds nol required lor the approved purpose are lo be refunded lo the CIO unless othe15& agreed by the trustees, The trustees may impose condlllons upon making Ihe giant in respecl of monitoring and reporting. If the granl is payable in inslalmenls, then paymènt of subsaquent grant inslalmenls will be dependenl on $alisf8¢1ory progress having been demonslialed and the Irusle¢s reserve lh& right lo withdraw the grant on recFlpl of unsalisfaclory Progress Teports. Fallure lo submil retK>rls wllhln the lime specified by Ihè Irustees may also jeopardise the conlintjalion of the 5LlPPOrt. In addilFon lo reports delailing progress, grant reriplenls m8y be required lo provide a slalemenl and final report demonslraling how the grant has been spent, providing detai15 (where appropriatel of arby other funds applied lo the same project 8nd showlng how the giant has been appliecl towards the furtherance of Ihe organisalion's chafilable purposes. Main activlties und&rtaken to further the Foundatlon's purposes for thfr publlc beneflt The charity has made donations lolalling £69,96612023 - £122,823110 22 12023 . 271 charitable organisalions which Ihe Iruslees believe lo advance Ihe charl1$ c>bjeclives. Giants have been made lo18rger organis21ions such as Macmillan Cancer Suppotl, Stroke Association and UK Sepsis Trust during the period. The charity has also made grants to cornrnunily organisalions such 2s Treetops H05pi¢e Tiusl, Graenwich and Bexley CDtnmunily Hospire, The Matthew Hackney Foun(Jalion, and CISCA House ICanvey151and Senior Citizens Associalionl. Achl8v8ments and perfDrniance Maln achlevom•nts of the Foundation In the current period donations of £3,20312023 - £6,539) were received from supporters of the charity. The Iruslees have then identified and disbursed £69,96612023 - £122,823) ol Ihe charily's lun(Ss in 9ranls in order lo advance the CIO'S chariiable objecls. Flnanclal revlew a. Golng concgrn After making appiopriale enquiries, the Iruslees have a reasonable expèctatK)n that tho Foundation has adequale resources lo continue in operational existence for the foies8eable fulure. For this reason, they continue lo adopl the going con¢em basis in preparing the financial slalemenls. Further detalls regarding the adoplion of Ihts golng concern basis can be found in lh8 accounling policles. Page 3
LORDS GROUP FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 b. Resfjrves pollcy The Charlly Commission defines reserves as 'incorn8 which beromes available lo the charity and is lo be expended al the Iruslees, discretion in furtherance ol the charitys objects, bul is r1 yèl spènt. commilled or designaled.. Al the balance shetsl dale. Ihe CIO'S resetves have been partly uli118ed by provtding granls ancs support aclivilies of the CIO. Due lo the liming of the initial funding and the assessment of funding applications by the Iru8lee5 the majoiity of thi5 has been retained with the inténl¢on of making lurther grants in lulure peiiods. Structur•, governance And management a. Constltutlon Lords Group Foundation Is a registered charity, number 1193157, 8nd is conslilul8d under a CIO Conslilution. b. Mothod8 of appoinlmenl or electlon of trustees The management ol the Foundation is th& responsibility of th8 trustees who are elected and co-Dpled under the terms ol the CIO Conslilulion. Apart from the firsl charity IrusleÈs, every Iruslee musl be appolnled foi a term ol three years by a resolution passed al a properly convened meeting of the chaTily Iruslees. In selecting individuals for appointment as charity Iruslees, the charlly Iruslees musl have regard lo the skills, knowledge and experience needed for the efftsclivo admlnislralion ol the CIO. c. Organlsatlonal structure and dec151on-maklng pollcles The mgmbers of (he CIO shall be Ils Charity Iruslees lor the lime being. The only persons ellglble lo be members ol Ihe CIO are ils charity trustees. Membership of the CIO cannot be transferred lo anyone else. Any member and charity Iruslee who ce8ses lo be a charity Iruslee automatically ceases lo be a member ol the CIO. The charlly Iruslees shall manage Ihe affalrs ol the CIO and may lor that purpose exercise all Ihe powers ol Ihe CIO. 1115 the duly ol each charity Iiuslee lo extrrcise his or her powèrs and lo parform his or her functions in his or her capacity as a trustee OF the CIO in Ihe way he or she decides in good lailh would be Tnosl likely lo lurthol the purposes of the CIO- and lo exercise, in the performance of those ILtrnclions, such care and skill as is reasonable in Ihe clrcumstances. d. Poll¢les adopted for thè Inductbon and trainlng of trustee5 The charily Iruslees will make av8llable to each new charity Iruslee, on or before his OT her lirsl appoinlmenl a copy ol the current version of Ihls conslilution., and a copy ol the CIO'S lalesl Trustees, Annual Report and slalemenl ol accounts. Related party relatlon$hlps A charily Irusltre musl declare the nature and exlenl of any inleresl, direGI or indirect, which he or she has ir) a proposed transaction or arrangement with the CIO or in any l¥an$8clion or 8rrangem8nl enlèied into by the CIO whlch has not previously been declared,. and absent himself or herself from any discussion5 01 the charity Iruslees In which il is possible (hal a ¢onfli¢l of inleresl will arise between his or her duty lo act solely in the inleresls of the CIO and any peisonal interest lincluding but nol limil8d to any financial int8rasll. Page 4
LORDS GROUP FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDEO 31 DECEMBER 2024 Unre5trlcted funds 2024 Total funds 2024 Tolal funds 2023 Note Income from: Donations and legacies 3,203 3.203 6,539 Total Income 3,203 3,203 6,539 Expèndlture on: Raising funds Chari18ble acllvllles 14 72,486 14 72,486 125,223 Total expendlture 72,500 72,500 125.223 Nèt movemènt in funds {69,2971 169,2971 (118,684) Reconclllatlon ot funds: Total fur]ds brought forward Ng1 movémènl in funds 401,437 169,2971 401,437 169,2971 520, 121 (118,684) Total funds carried forward 332,140 332.140 401,437 The Slalemenl ol financial activities includes all gains and losse5 recognised in the year. The noles on pages 8 10 14 forffl parl of those financial slaletnenls. Page 6
LORDS GROUP FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDEO 31 DECEMBER 2024 Structurei governance and management Icontlnued} f. Flnanclal rlsk managemènt The Iruslees have assessed the majoi risks lo which the Foundation is exposed. in particular those related ID the operations and finances ol Ihe Foundation, and are salisfied that systems and procedures are in place to miligale exposure lo the major risks. Members. liablllty 11 lh& CIO is wound up, th8 members ol Ihe CIO hav8 no liability lo conlrihule lo ils assets and no personal responsibility for sellling ils debts and Ilabllilie5. Statemant of trust88s' rèsponslblllties Th8 IrLfsl&es are responsible for prepaiing the IfUSte8s' report and the financial slalemenls in accordanca wilh applicable law and Unlled Klngdom Accounting Slandaid5 (United Klngdom Generally Accepted Accoun15ng Praclicel. The18w applicabl& lo charilles In England & Wales requires the Irusle&s lo prepare financial statements lor each rinancial period which give a true and fall view of the stale ol affairs ol the Foundallon and of ils incoming resources and application ol resources. including ils income and expendllijre, lor that perlod, In preparing these linanclal SlatBgl5, the Iruslees are required lo.. select suitable accounting policies Bnd then apply Ihem consislenlly,, observe th8 mèthods and principles ol Ihe ChBrities SORP IFRS 1021.. make judgfflenls and accounting eslimal&s that are feasonable and prudenl.. slate whether applicable UK A¢¢ounling Standards IFRS 1021 have been followed, subjecl lo any material departures disclosed and explained in the financial slalemenls., prepare the financial slalemgnls on the going concern basis unless il is inappropri810 lo piesume Ihal the Foundation will continue in business. The Iruslees are responsible for keeping 8dgquale accounting records that are sufficienl lo show and explain the Foundation's transactions and disclose with Teasonable accuracy al any time the financial poslllon of the Foundalion and enable Ihem lo ensure that Ihe financial slalemenls comply wllh the Charili*'. Acl 2011, the Charlly (Accounts and RBPOrtsl Regulations 2008 and the provisions of the CIO Constitution. They are also responsible for safeguarding the assets ol the Foundation and hence lor taking reasonable steps for th& prevention and detection of fraud and other irregularities. roved by order ol the members of the board of trustees And signed on their behalf by.. S B Patèl Trustee D81e'. Page 5
LORDS GROUP FOUNDATION . BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Currtsnt assets Cash al bank and in hand 334.660 403,837 Creditors.. amounts lalling dLte wilhin one year 12.5201 (2,400J Net current assets 332,140 401,437 Total net assets 332,140 4Ql,437 Charlty funds Unreslricled funds 10 332,140 401,437 Tolal funds 332,140 401,437 Thg lin8ncial statements weie approved and ¥ulhorised lor issue by the Iruslees and signed on their behalf by.. S B Patel Trustee D21e'. The noles on pages 8 10 14 form part of Ihese linancial slalemenls. Page 7
LORDS GROUP FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General informatlon The Lords Group Foundation is a charilable incorporated organisalion, incorporated In England & Wales. Th8 address of the regislered office Is 12-15 Hanger Green, London, W5 3EL. The m8mbers ol the CIO are the Iruslees. Thg financial slalemenls are presented in Sterling IGBPI rounded lo Ihe nearesl £1. Accounllng pollcifrs 2.1 Basls ol proparallon of flnancial statemen15 The financi81 slalÈmpnls have been propared In ac¢ordgnce with the Charities SORP IFRS 1021 Accounting and Reporting by Ch8filles.' Slalemenl of Recommended Practice applicable lo chaTilies preparing their accounts in accordance wilh the Financlal Reporting Sland8rd applicable in the UK and Republic ol Ireland IFRS 1021 leflective 1 January 20191, the Financial Reporting Standard applicable in Ihts UK and Republic ol Ireland IFRS 1021 and Ihg Chaiities Act 2011. The financial slalemenls have been prepared lo give a 'liue and fair, vlew and havè departed from the Charilles (Accounls and Reporlsl Rogulalions 2008 only lo IhB exlenl requiied lo provide a 'lrue and lair. view. Thls departure has involved following Ihe Charili¢s SORP IFRS 1021 published in O¢lob&r 2019 ralher Ihan the AOnting and Reporting by Charities.. S181omenl of Recommended Practice effeGlive Irom 1 April 2005 which has since been withdrawn. Lords Group Foundallon meets the definition of a public benefit &nlSly under FRS 102. Assets and liabllilles are initially recognisod al historical cos1 or IransaclÉon value unless otherwise staled in the relevant accounting policy. 2.2 Golng ¢oncern The Iruslees have a reasonable expectation that the CIO h8$ 8dèquate resources lo conlinue in operallonal existence moel ils liabilities as Ihey fall due for Ihe foieseBablo lulure. berng a pe¥iod ol al le8sI iwelve months flown the dale Ihese financial slalemenls were approved. Accofdingly, they continue lo adopt Ihe going concern basis in preparing tha lin8ncial slalements 2.3 Income All income is rècognised On the Foundation has enlillemenl to Ihe income. it is probable that the income will be received and Ihe amount DI income receivable can be measured rellably. 2.4 Expendlture Expenditure is recognls$d once there is a legal or conslrucliv8 obligalion to Iransler econt5mi¢ benefit lo a third p8riy, il is probable Ihal a Iransler of economic benefils will be required in sellltrmènl and the amount ol Ihe obligation c8n bé measurèd r8118bly. EKpancliture is classified by aclivily. The cosls ol each activity are made up of the lolal ol direct costs and shared cosls. in¢luding support costs Involved in undertaking ea¢h activity. Direct costs allribulable lo a single activity are allocated dlr¢clly lo Ihal aclivily. Shared costs which Gonlribule lo more than one activity and support costs which 8rÉ not altribulable lo a single activity are apportioned belween those activities Dn a basis consistent with the use ol resources. C8nlral slaff costs are allocated on the basis of Ilme spent, and depre¢ialion charges 8llocated on the portion of the asset's use. Page 8
LORDS GROUP FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2024 A¢countlng pollcles Icontinugdl 2.4 Expendlture Icontlnuedl Expenditure on charilablo aclivilies is incurred on directly undertaking the aclivilies which luriher the Foundation's objedives, as wèll as any associ818d supporl costs. Grants payable are charged in Ihe year when the offer is made except in those cases where the offer is conditional, such gran15 being recognised as expenditure when the condillons allaching ara fullilled, Gi8n15 offered stjbjecl lo condilions which havè not been mel al the year end are noted as a oommilmenl, bul not accrued as expenditure. All expendiluro is inclusive ol Irfecoverable VAT. 2.5 Cash at bank and In hand Cash al bank and in hand includes cash and 5horl-lerm highly liquld inveslmenls with a short malurily of three months or less from Ihe dale of acquisition or opening of the deposit or similar accounl. 2.6 Llabllltles and provlslons Liabilities are CogniSed whon there Is an obligation al the balance sheet ol8le a8 a result of a pasl event, il is probable that a transfer of 8conomi¢ benefit will be required in selllemenl. and the amounl of Ihe settlernenl can be estirnaled reliably. 2.7 Financlal Instruments The Foundalion On has financial assets and financial liabilities of a kind Ihal qualily as basic financial inslrumenls. Basi¢ lin8ncial inslrumènls are initially recognised al Iransaclion value and subsequently measured al Ihelr selllemenl value with the &xception ol bank loans which are subsequently measured 81 amortised cost using Ihe effective inleresl melhod. 2.8 Fund accounting Gen&ral funds are unreslriclod lunds whlch are èvallable for use al Ihe élscrelion ol the Iruslees in furtherance of tha general objecliv&s of the Foundation and which have not been deslgnaled for olher purposes. Income from donatlon$ and legacles Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Donations 3.203 3,203 6,539 Page 9
LORDS GROUP FOUNDATION. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Expènditurè on ra151ng fund5 Unrestrlcted funds 2024 Total funds 2024 Total unds 2023 Allocated centrally incurred fundraising and governance costs 14 14 Analysls of grants Grants to Instltutlons 2024 Total funds 2024 Education and development Prevention and relief DI poveriy Advancing heallh and saving ol lives 29.972 17.185 22,809 29,972 17,185 22,809 69,966 69,966 Grants lo Inslilulions 2023 Total funds 2023 GTanl$, Educalion and developrnenl Prevention and rèlief of poverty Advancing health and saving ol lives 54.225 11,241 57,357 54,225 11,241 5T,357 122,823 122,823 Page 10
LORDS GROUP FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expendlturo on char5table actlvltles Summary by fund type Unrtstrl¢l¥d fund5 2024 Total 2024 Total 2023 Education and development Prevenlion and reliel ol poveriy Advanclng he8llh and saving 01 lives Olher 29,972 17.185 22,809 2,520 29,972 17,185 22,809 2,520 54,225 11,241 57,357 2,400 72,486 72,486 125.223 Anolysls of expenditure by actlvltles Grant fundlng of acllvltles 2024 Support costs 2024 Total funds 2024 Edltrcalion and d8velopmenl Prevention and relief of poverty Advanclng heallh and saving of lives Other 29,972 17.185 22,809 29.972 17.165 22.809 2.520 2,520 69.966 2,520 72,486 Page 11
LORDS GROUP FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysi5 of expendllurè by actlvltles Icontinuedl Gr8nl funding ol aclftviliÈs Slipport cosls Total funds 2023 2023 2023 Education and development Prevention and relief of poverty Advancing health and saving of lives Other 54,225 11,241 57,357 54,225 11,247 57,357 2,400 2,400 122,823 2,400 125,223 Analysis of support Costs Total funds 2024 Tolal runds 2023 other 2024 Accountancy 2,520 2,520 2,400 Trustaes. remuneratlon and expenses During Ihtr year. no Iruslees received any remuneralion or other benefits (2023- £NIL}. During Ihe year ended 31 Decembèr 2024, no Iruslee eXnSeS have been incurrèd (2023- £NILI- Page 12
LORDS GROUP FOUNDATION .. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Creditors: Amounts falllng due wlthln one year 2024 2023 Accruals and dÈlerred income 2,520 2,400 10. Statement of funds Statement of funds - currenl year Balance al 31 December Balance at I January 2024 Income Expenditure 2024 Unrestricted funds G8neral Funds . all funds 401,437 3,203 172,5001 332,140 Statement of funds - prSor year Balance al 31 D8cembfyi 2023 IBnc6 Bl 7 January 2023 Income Expendilure Unrèstrlcted funds General Funds- all funds 520, 127 6.539 (125,223) 401.437 Pggtr 13
LORDS GROUP FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Analy$l$ of nel assets between funds Anolysls of net assets betwegn funds - curront perlod Unrestrlcted fLtnds 2024 Total funds 2024 Current assets Creditors due within one year 334,660 (2.5201 334.660 12,5201 Tota 332,140 332,140 12. Related party transactlons The Foundation has not entered into any relaled parly Iransa¢lion during the year, noi are there any oulslanding balances owing between related parties and the Foundalion al 31 Decembor 2024. P8g& 14