Charity registration number 1199991 (England and Wales)
LAVY CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
LAVY CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Professor CB Lavy Dr V Lavy Dr G Briggs Charity number 1199991 Principal address 6 Brindley Close Oxford OX2 6XN Independent examiner J P van der Merwe ACA Foot Davson Ltd Lonsdale Gate, Lonsdale Gardens Tunbridge Wells Kent TN1 1NU
LAVY CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Statement of Trustees' responsibilities | 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 14 |
LAVY CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025
The trustees present their annual report and financial statements for the year ended 5 April 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's deed, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
The objects of the Charity are to make grants: (a) To advance the Christian faith for the benefit of the public by supporting Christian ministry anywhere in the world.
(b) To relieve sickness and preserve health for the benefit of the public anywhere in the world by supporting medical and surgical treatment and training.
(c) To relieve poverty and financial hardship for the benefit of the public anywhere in the world by supporting the provision of education, training, healthcare projects and all the necessary support designed to enable individuals to generate a sustainable income and be self-sufficient
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
The Trust’s income this year came from personal donations and also from Just Giving as several kind individuals organised sponsored events.
The Trust continues to support the following UK registered charities whose activities are in line with the Trusts Objects:
St Andrews Church Oxford Christian Medical Fellowship International Christian Medical and Dental Association Christians in Sport Care for the Family Ameca - a charity supporting training of medical students in Malawi Global Clubfoot Initiative Innovista - a Christian charity working in Eastern Europe
Grants to non registered charitable causes:
The Trust purchased a house in 2023 that will be used to house up to 6 volunteer workers for St Andrew’s Church Oxford. There has been inevitable delay in getting local council permission to extend the house to accommodate up to 6. A local architect and engineer were commissioned and we are happy to announce that the Council has agreed to the renovations. The building will start in June 2025 and finish by October 2025 so that the Church volunteers for the academic year 25/26 can start.
A total of £1,000 support to a nurse training in Malawi was given through a trusted colleague Mr Agar who travels regularly to Malawi and who is able to transfer the funds directly to the nurses’ training college.
During 2024/5 while the house was not yet ready the Trust rented a flat in Oxford to house Church volunteers. There was a spare room in the flat and a university student kindly took it to help cover our costs.
Financial review
Unrestricted funds showed a deficit for the year of £731 (2024: surplus of £391,151).
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
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LAVY CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
Structure, governance and management
The charity was registered with the Charity Commission on 2 August 2022 (charity number 1199991). The deed was amended on 5 August 2022.
The trustees who served during the year and up to the date of signature of the financial statements were:
Professor CB Lavy Dr V Lavy Dr G Briggs
New candidates for the Board are proposed by existing trustees. Candidates receive written advice on the roles and responsibilities of trustees and are invited to attend a Board meeting. Thereafter the Chair of the Board and the candidate exchange views and if appropriate the incoming trustee is proposed, selected and elected at the next Board meeting.
None of the trustees have any beneficial interest in the trust.
The Board of trustees is the final decision-making body.
The Trustees' report was approved by the Board of Trustees.
.............................. Professor CB Lavy Trustee
12.1.2026 Date: .............................................
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LAVY CHARITABLE TRUST
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 5 APRIL 2025
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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LAVY CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LAVY CHARITABLE TRUST
I report to the trustees on my examination of the financial statements of Lavy Charitable Trust (the charity) for the year ended 5 April 2025.
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.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011. 2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
J P van der Merwe ACA
For and on behalf of Foot Davson Ltd Lonsdale Gate, Lonsdale Gardens Tunbridge Wells Kent TN1 1NU
Dated: .........................
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LAVY CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income and endowments from: | |||
| Donations and legacies | 3 | 46,147 | 204,265 |
| Investments | 4 | 1,083 | 8,674 |
| Other income | 5 | 18,779 | 233,580 |
| Total income | 66,009 | 446,519 | |
| Expenditure on: | |||
| Raising funds | 6 | 216 | 216 |
| Charitable activities | 7 | 66,524 | 55,152 |
| Total expenditure | 66,740 | 55,368 | |
| Net income/(expenditure) and movement in funds | (731) | 391,151 | |
| Reconciliation of funds: | |||
| Fund balances at 6 April 2024 | 501,906 | 110,755 | |
| Fund balances at 5 April 2025 | 501,175 | 501,906 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 14 form part of these financial statements.
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LAVY CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2025
| Notes Fixed assets Tangible assets 12 Current assets Investments 13 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities The funds of the charity Unrestricted funds |
2025 £ 32,773 1,596 34,369 (29,925) |
£ 496,731 4,444 501,175 501,175 501,175 |
2024 £ 36,748 2,954 39,702 (29,925) |
£ 492,129 9,777 |
|---|---|---|---|---|
| 501,906 | ||||
| 501,906 | ||||
| 501,906 |
The notes on pages 7 to 14 form part of these financial statements.
The financial statements were approved by the trustees on .........................
.............................. Professor CB Lavy Trustee
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LAVY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
Charity information
Lavy Charitable Trust is a a charity registered with the Charities Commission on 2 August 2022 and the deed was amended on 5 August 2022. The charity constitutes a public benefit entity as defined by FRS 102.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
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. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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LAVY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
All expenditure is accounted for on an accruals basis.
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
Grants payable are payments to charities largely in the UK, but occasionally overseas, which are charged in the year the grant is awarded by the Trustees.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings not depreciated
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Current asset investments
Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of between three months and one year.
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LAVY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
(Continued)
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised 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.
Impairment of financial assets
Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.
If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired 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 non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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LAVY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Donations and gifts | 46,147 | 204,265 | |
| 4 | Income from investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Interest receivable | 1,083 | 8,674 | |
| 5 | Other income | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Transfer from Buckingham Trust | - | 233,580 | |
| Rental income | 18,779 | - | |
| 18,779 | 233,580 |
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LAVY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
6 Expenditure on raising funds
| Fundraising and publicity Seeking donations, grants and legacies Expenditure on charitable activities Grants Support & Governance 2025 2025 £ £ Grant funding of activities (see note 8) 36,790 - Property expenses - 5,523 Rent & expenses for volunteers - 20,562 Professional fees - 3,649 36,790 29,734 Analysis by fund Unrestricted funds 36,790 29,734 |
Total 2025 £ 36,790 5,523 20,562 3,649 66,524 66,524 |
Unrestricted Unrestricted funds funds 2025 2024 £ £ 216 216 Grants Governance Total 2024 2024 2024 £ £ £ 50,611 - 50,611 - 2,170 2,170 - - - 2,371 2,371 50,611 4,541 55,152 50,611 4,541 55,152 |
Unrestricted Unrestricted funds funds 2025 2024 £ £ 216 216 Grants Governance Total 2024 2024 2024 £ £ £ 50,611 - 50,611 - 2,170 2,170 - - - 2,371 2,371 50,611 4,541 55,152 50,611 4,541 55,152 |
|---|---|---|---|
| Total 2024 £ 50,611 2,170 2,371 |
|||
| 55,152 | |||
| 55,152 |
7 Expenditure on charitable activities
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LAVY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
8 Grants payable
| Grants to institutions: Care for the Family Christian Medical CNK Alliance ICMDA St Andrews The Ameca Tust Two Coats Trust CAF Global Clubfoot charity Cure International Innovista International Other Grants to individuals |
2025 £ 1,200 2,400 - 1,200 21,200 3,390 - 300 1,500 600 4,000 - 35,790 1,000 36,790 |
2024 £ 1,200 2,400 1,000 11,200 26,600 385 310 - - - - 3,242 |
|---|---|---|
| 46,337 4,274 |
||
| 50,611 |
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10 Employees
The average monthly number of employees during the year was:
| 2025 | 2024 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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LAVY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
12 Tangible fixed assets
| 12 Tangible fixed assets |
||
|---|---|---|
| Cost At 6 April 2024 Additions At 5 April 2025 Carrying amount At 5 April 2025 At 5 April 2024 The freehold property is valued at cost and is not depreciated. 13 Current asset investments Unlisted investments 14 Loans and overdrafts Loans from related parties Payable within one year 15 Creditors: amounts falling due within one year Borrowings Other creditors Accruals and deferred income |
Freehold land and buildings £ 492,129 4,602 496,731 496,731 492,129 2025 2024 £ £ 32,773 36,748 2025 2024 £ £ 22,500 22,500 22,500 22,500 2025 2024 £ £ 22,500 22,500 5,625 5,625 1,800 1,800 29,925 29,925 |
|
| 496,731 | ||
| 496,731 | ||
| 492,129 | ||
| 2024 £ 36,748 |
||
| 2024 £ 22,500 |
||
| 22,500 | ||
| 2024 £ 22,500 5,625 1,800 |
||
| 29,925 |
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LAVY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
16 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 6 April | Incoming | Resources | At 5 April | |
|---|---|---|---|---|
| 2024 | resources | expended | 2025 | |
| £ | £ | £ | £ | |
| General funds | 501,906 | 66,009 | (66,740) | 501,175 |
| Previous year: | At 6 April | Incoming | Resources | At 5 April |
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| General funds | 110,755 | 446,519 | (55,368) | 501,906 |
| Analysis of net assets between funds | ||||
| Unrestricted | ||||
| funds | ||||
| 2025 | ||||
| £ | ||||
| At 5 April 2025: | ||||
| Tangible assets | 496,731 | |||
| Current assets/(liabilities) | 4,444 | |||
| 501,175 | ||||
| Unrestricted | ||||
| funds | ||||
| 2024 | ||||
| £ | ||||
| At 5 April 2024: | ||||
| Tangible assets | 492,129 | |||
| Current assets/(liabilities) | 9,777 | |||
| 501,906 |
17 Analysis of net assets between funds
18 Related party transactions
A loan of £22,500 was made by CBD Lavy (Trustee) to the charity in the year ended 5 April 2024 and was outstanding at the year end. The loan was interest free and repayable on demand. It was repaid after the year end.
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