Charity registration number 1193673 THE LINDSEY FAMILY FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
THE LINDSEY FAMILY FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees G Jackson M Lindsey N Lindsey Charity number 1193673 Independent examiner Gravita 11 LLP 30 City Road London EC1Y2AB
THE LINDSEY FAMILY FOUNDATION CONTENTS Page Trustees. reFX)rt Independent examiner's report statement of financial activities Statement of financial position Notes to the financial statements
THE LINDSEY FAMILY FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The trustees present their report and financial ststemenls for the year ended 31 March 2022. The Iruslees have adopted the provisions of the Slalement of Recommended Practice ISORPI 'Accounling and Reporting by Charities" IFRS 1021 in preparing the annual report and financial slalemenls of the charity. Legal and adminislralive information sel out al the front of these financial statements form part of this report. The financial statements have been prepared in accordan with the accounting policies set out in note 1 to the rinancial statements and comply with the charity's governing document dated 21 February 2021, the Charities Act 2011 and 'Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. Objectives and activities The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The initial activity of the charty will be that of., Providing financial support lo people who have fallen on hard limes and need help. This is likely lo be cornbinalion of those who need financial help to meet their day-lo-day expenditu and others who may have rnedical andlor care home fees lor similar. In addition th& trustees wish lo support other charities. This is likely to be a combinab.on of gUlar support and ad ho¢ payments depènding on the cir¢umstances. Achievements and performance Financial review During the year, the charity made donations totalling £27,081 in line with its grant making a¢tivities. As at the period end, the charity had made a defi¢it of £28,081. Reserves policy It is th8 polioy of the charity that unrestricted funds which have not been designated for a spe¢ific use should be maintsin&d at a level equivalgnt lo b&tween three and six month's trxpenditurtr. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continu& the ¢harity's current a¢tivities while consideration is given to ways in which additional funds may be raised. This level of reservgs has been maintained throughout the year. Structure, governance and management The Charitable In¢orporated Organisation ICIOI was established by a governing document dated 21 February 2021 and registered with the Charity Commission under Charity number 1193673. The Iruslees who served during the year and up to the dale of signature of the financial slalemenls were.. G Jackson M Lindsey N Lindsey The existing trustees are responsible for appointing further trustees.
THE LINDSEY FAMILY FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The Irusteas, roport was approved by the Board of Trustees. M..L L,.J_ M Lindsey Trustee N Lindsey Trustee 28 Jan 2024 Date..
THE LINDSEY FAMILY FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LINDSEY FAMILY FOUNDATION I report lo the Iruslees on my examination of the financial slalements of The Lindsey Farnily Foundation (the charityl for the year ended 31 March 2023. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or the financial slalemenls do not a¢¢ord with those re¢ords', or the financial statements do not comply with Ihe applicable requirements conceming the form and content ol accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounls give a Irue and fair view which is nol a matter considered as part of an independent examination. I havg no concerns and havè Come across no other mattèrs in ¢onnè¢tion with thè examination to which attention should bè drawn in this report in ordèr to enablé a propèr Ljnderstanding of thé financial statèmènts to ba r8aeh8d. Sarah Wilson FCA Gravita 11 LLP 30 City Road London EC1Y 2AB Dated.. 291112024
THE LINDSEY FAMILY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted Unrestricted funds funds 2023 2022 Notes Donations and legacies Charitable activities 150,000 300 Total In¢ome 150,300 Ch8ritsble activities 28,081 119,893 Net {expenditure}lincome for the yearl Net movemenl in fund$ 128,0811 30,407 Fund balances al 1 April 2022 30,407 Fund balances at 31 March 2023 2,326 30,407 The statement of financial activities includes all gains and losses recognised in the year. l income and expenditure derive from ¢ontinuing a¢tivities.
THE LINDSEY FAMILY FOUNDATION STATEMENT OF FINANCIAL POSITION ASAT31 MARCH 2023 2023 2022 Notes Current assets Cash at bank and in hand 6,276 33,357 Creditors- amounts falling due within one year 13,9501 12,9501 Net current assets 2,326 30,407 Income funds Unreslricled funds 2,326 30,407 2,326 30,407 28 Jan 2024 The financi81 statements were approved by the Trustees on fyl..L L,.J_ J_l L,.J.. M Lindsey Trustee N Lindsey Trustee
THE LINDSEY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Charity information Lindsey Family Foundation is a Charitable Incorporated Organisalion, registered in England. The Charity Registration number is 1193673. 1.1 Reporting period In the previous period, the charity has changed ils financial year-end from 28 February lo 31 March. Therefore, the prior period financial slalements comprise of a 13 month period. 1.2 Accounting convention The financial statements have been prepared in accordance with the charity's Igoverning docurllentl, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic ol Ireland" l°FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Slalemenl ol Recommended Practice applicable lo charities preparing their accounts In accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The charity h8s taken 8dvantsge of the provisions in the SORP for Charities not to ppa a St81nent of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the exlenl required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Slalement of Recommended Practi which is referred lo in the Regulations bul which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical Cost convention. The principal accounting policies adopted are sel out below. 1.3 Going concem At the time of approving the financial statements, the trustees have a reasonable expectstion that the ¢harity has adequate resources to continue in operational existencè for the foreseeable futLJre. Thus the trLtsteas continue to adopt the going concern basis of accounting in preparing the financial statements. 1.4 Charitable funds Unrestricted funds are available for use al the discretion of the Iruslees in furtherance of their charitable objectives. 1.5 In¢ome Income is recognised when the charity is legally entitled to it after any perf0rrnan conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.
THE LINDSEY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 A¢¢ounting policies (Continued) 1.6 Expenditure Expenditurè is recognisèd onc8 thèrè is a lègal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic nefitS will b8 requirèd in sèttlemènt, and the amount of the obligation can bè maasured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lotal of dir costs and shared costs, induding support costs involved in undertaking each activity. Direct costs attributatAe to a single activity are allocated directly to thal activity. Shared costs which contribute to more than one activity and support costs which are nol attributable to a single activity are apportioned between Ihose activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand. 1.8 Financial instruments Basic financial assets Basic financial assets, which includè debtors and cash and bank balans, ar8 initially measured at transaction pri including transaction costs and are subsequently carried at arnortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 8asl¢ flnan¢lal Ilabllltles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless Ihe arrangement constilutes a financing transaction, where Ihe debt instrument is measured at the present value of the future payments discounted al a marf(et rate of interesl. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rale method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course ol operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction pri and subsequently rlleasured al amortised cost using the effective interest method. Derncognition of financial IITabilities Financial liabilities are derecognised when the charitys conlraclual obligations expire or are discharged or canlled. Donations and Iogacias Total Unrestri¢ted funds 2023 2022 Donations and grfts 150,000
THE LINDSEY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitable activities Other income 2022 Other income 300 Charltabl a¢tlvltl$ Donations made Support costs 2023 Total 2023 Donations made 2022 Support costs Total 2022 2023 2022 Donations made Accountancy 27,081 27,081 1,000 116,943 116,943 2,950 1,000 2,950 27,081 1,000 28,081 116,943 2,950 119,893 27,081 1,000 28,081 116,943 2,950 119,893 Trustees None of the trustees lor any persons connected with Iheml received any remuneration or benefits from the charity during the year. Employees The average monthly number of employees during the year was.. 2023 Number 2022 Number Total There were no employees whose annual remuneration was more than £60,000. CdItorS.. amounts falling due within one year 2023 2022 Accruals and deferred income 3,950 2,950 Related party transactlons There were no disclosable related party Ir8nsa¢lions during the year12022 - none).