REGISTERED CHAIUTY liUMBER: 1200321 REPORT OF TIIE TRUSTEES Ahl) UNAIJDITED FINANCIAL STATE.MENTS FOR TItE PERtOD 9 sEvfEMBER 2022 TO 29 FEBRUARY 2024 FOR THE DAVID LOCK HORSEPOOL FOIINDATIO.N Armstrongs Chartered Ac¢ounrants and Advisers 1 & 2.Mercia Vill2g¢ ronvood Close W¢stwx)od Businc5s Park Coventry West Midlands CV4 8HX
DAVID LOCK HORSEPOOL FOLThU)ATION corsTCTrUS OF'fHE FINA]YCIAL ST ATF.MF.NTS EPTE R 2022 Ta 29 FEBRIIARY 2024 FO Poge Repoil of ihe Trnste¢s Imdependent Ex#m5ner's Report ststernent of Financial Activities BAlgntt Sheet Not¢s to the Fin#D¢i¥l St4tem¢Dts Del*i]ed St•temeDt of FiDancial Actiwits
THE DAVID LOCK HORSEPOOL FOUNDATION. REPORT OF TIIE TRLSTEES FOR TIIE PERfoD 9 SEPTEMBER 2022 TO 29 FEBRUARY 2024 Th¢ tru5t¢es present their report with the financial statemenLS of the charity for The period 9 Septcmbcr 2022 to 29 February 2024. Ttje Irugite$ have adopted the provisions Df Accoutttin8 and Rtportiiig by C'.liariti¢s'. Statement of Reco)]ended Practice 2ppIAcable to charitics preparing their accounts in aGGordaA¢¢ Mryth the Fin&nciai ReportTDg Standard appli¢ablc in rh¢ UK and R¢publi¢ of Ireland (FRS I tt2) l¢ff¢¢tive l January 20191. OKJECTIVES AND ACTivfriES Oble¢¢tv¢s Dd aims Th¢ Lbwitgs objeLts are as follows.. To advance sueh charitable purposes {a¢cording to th¢ law of England and W#les} 8S th¢ tnteeS see fit fron) time i tim¢. The policies adopted in telation io ihe5e obje¢ts have not bccn changed during the y¢3r. Tlie trustecs hav2 paid due r¢gard io guidance i&$lled bythe Charity cffjEthlssiots in deciding activities th¢ Charity should undtnake. ACHIEVEMENT AND PERFORMANCE Cbarit¥ble activides The Charity curr¢ntly provides grants to organisations (es(ablished for exclusivtly charitable purposes) as the TrusteeB in their absolute discretion decidt within ihe obj¢cts of the Charity. The charity also provides services ro autisti youjjgsters and their fatnilie5 via our cotwllunÉty fam project. FllDdraising icttvities I'm pleased to pr¢scnt our 2t]tJtsai chairman's rewirt hi8hlightlll8 our aGliievements and plans. Our vision is io create a numirTrng rctrcat tor auhstic youngsters to connect animals and natsjrc in our lotral tam proje¢t. Guided by out s¢v¢n diversety experienced trh]Stees. the thr¢c executives and ¢hariry manager dTTV¢ the tann forw&rd to establish our plalmed service. With our fami m8nag¢r now illtroducitig animals our proj¢¢i hab Alourished with life and voIuni¢¢rs ar¢ soon to be recwited. Adept Care Ho]nes group is our prin¢ipal funder and Hdditional support ivill com¢ troin sponsorship5, dollail05. and s¢rvi¢¢ in¢om¢. W¢'ve invested a substatial sum to arquiTe and refurbish the farm with lurthcr signifi¢aut ouday plannd for infraStrUth developnwnt over thc next few years. Th¢ Inevitable challenges and delay5 We met with a positive approach by our team and our strong support n¢twork has kept US m(FVi]]g forward. I sincerety appreciate the hard work of oiir lea, donors, and advocate& It has beeJ an exLltillg start, and we look forward to opening the s¢rvi¢¢ later this year. FINANCIAL REVIEW Financial pvsition The trustees are aware of th¢ amount of ndS the Charity holds. Cash fid$ are invested a deposit aCcOt with the CAF bank. Thc Charity htld £90.202 on dwsit on 29di February. 2024. The Chariry took out a Legal Morigage with srj associtttd company, Lock Key Prop¢rli¢s, for a totsl of £1,200.000. Tbe ¢ntte5 ht a&%essed the major Tisks to wthich the is expose<L 8nd are satisfied that systems are in place to mitigak exTosure to the n)ajorrisks. STRUCTURE. GOVERNANCE AND NL4NAGEMENT Governing docutn¢nt The charity 15 controllcd by irs govtming doewnenl a deed Of tru5L and consututC5 an Luiincorporated charity. REFERENCE AND ADMINisrTlVE DETAIts R£¥'stertd Charity number 1200321 Pag¢ I
THE DAVID LOC.K HORSEPOOL FOUNDATION REPORT OF THE TRUSTEES FOR THE PERIOD 9 SEPTEMBER 2022 TO 29 FEBRUARY 21124 PTindp#l addre55 Ilomes tsuppDrt Centr¢ 1 l.utt¢nrth Road But6agc Hth¢kley t£ieesiershire LEIO ?DJ Trustee5 D N l.ock (appointed 9.9.2022} Z J R Lock {appointed 9.9.2022} P C Sav8ge (appointed 9.9.20221 C Lock {appoinl¢d 9.9.2022) C J White lappoint¢d 9.9.2022) D Smith (appoint¢d 9.9.2022) Indepdent KiarniDer Muhammed ghabbir FC.A, FC.C.A Arlltstrongs Chartered Accountants and Tax Adviserg 1 & 2 Mer¢ia Village TorwiK>d Close Weslwood Business Park C.oventy Wcst Midlartds CV4 8HX Approved by order ot rfie ttNstees on .... ............... . and sign¢d on its b¢half by.. DNLo¢k- Page 2
INDEPEfiDEf4T E_XAMINER'S REPORT TO THE TRUSTEES OF TllE DAVID LOCK IIORSEPOOL FOUNDATION IndepeTrdtDt exminer's report to the trastets of The Dawid Lfjck Horsepool Foundation I report 10 the charity trustees on my examination of the &ccounts of The David Lock Horsepool Foundation (the Trust) forthe p¢riod 9 S¢pmber 2022 to 29 FebNary 2024. Re8pon$lblllt5es ba$i8 of repori A5 the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the rcquireinents of the Charities Att 2011 ('the Act'l. I rcport in respc¢t of my ¢xamin*ion of the Trust's a¢¢ounts ¢arri¢d out under Se¢tion 145 of th¢ Aci and in carrying out JDY examination I h#v£ followcd all applicablc Directions givcn by thc Charity Commi&sion undcr Scction 145{5)Ib) of th¢ Act. Independent ¢y#m5ner's stRtement I have completed my exanination. I confm that tto material matters have come to my 2ttention in connection the ¢x3mitiaiio]L giving me cuust to believe that in ani terIal respect.. a¢cowiting r¢¢ords were noi kept in respect of the TnLqt required by S¢ctiort lio of ihe ACL or th¢ accoutLts do not accord with those records., or the a¢¢ounts do not ¢omply with th¢ applicable requirements cottc¢rning the fom ad content of accounts bet out in the Cliarilies (Accounts and R¢portsl Regulations 2008 other rhan any r¢quir¢m¢nt thar lh¢ ac¢ovnrs ¥iv¢ a tnit and fair view whi¢h is not a matter ¢onsid¢r¢d as part of an ind¢p¢ndeni examination. I have no cot)¢erns zt)d hov¢ Come a¢ross no other mattcr5 in rorLllCGtion with th< eXaInatioN to Yhich att¢thtion should be drawn in this report in order to cThablc a propcr understanding of thc accounts to bc rcaehcd. Shabbir FCA, FCCA A¥mstrongs Chartered Actoimtsnts and fax Advi$¢rs 1 & 2 Mercia Villa8¢ Tonvood Clos¢ Westwood Business Park Coventry W¢st Midlands CV4 ¥HX Date.. Pag¢ 3
TIIE DAVID LOCK HORSEPOOL FOLNDATION ATE.MLNT OF FTh ANCIAL ACTtVlTIES FOR THE PERIOD 9 SEvfE 2022 TO 29 FEB LARY 2024 Unrestrictc fijnd Notes LNCOME AND ENDOWMF,.YfS FROM Donattons and legacies 127.614 Investment incomc 27 Total 127,641 EXPLNDI'fuRb ON Raising fvnds 13,098 Cb*rit8ble %ctivilies Charitsble activities 4i255 Total 56,353 NPT INCOME 71.288 TOTAL FUh'DS CARRIED FORWARD 71,288 CONTINUING OPERATIONti All in¢oin¢ and expenditure has arisen from corrtinuiog a¢rvit1¢5. Th¢ nor¢s fom part ofthese fin4tt¢i81 statements P&g¢ 4
THE DAIqD LO HORSEPOOL FOLThIDATION BALANCE SHEET 29 FEBRU 024 Unresrri¢t¢ fund Notes FIXED A8SETS Tangibl6 assets 1,081.100 CURRENT A&SETS Cash at bank 90.202 CREDoRs Amowjts falling due within one year (240,014) Triwr CURREYT A&8ETS (149,812) TOTAL ASSETS LESS CURRETrT LIABILITIF,S 931288 CREDrroRS AmoLmts falling due after more than on¢ yeor 1860.000) NET ASSETS 71,288 FUYDS UDrestri¢led funds 71.288 TOTAL FUNDS 71,288 The financial stsi¢ments werc approved by ihe Board of Tnjsttts and authoris¢d for i5SUC . were Sid on its bebaif by.. on &wstee Th¢ notes fom part of th¢$¢ financial statements Page 5
THE DAVID LOCK IIORSEPOOL FOL74DATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERJOD 9 SEPTEMBER 21b22 TO 29 FKBRI.-ARY 2024 AccoirYtlNC POLICiES Bgsis of pr¢pariDg tkn¢ finaDcial statetllents The financial 5tatcments of the charity. which is a public benefit entity under FRS 102, have been prcpartd in ac¢ordan¢e with the Chariti¢s SORP {FRS 1021 'Accounling and Reporting by Charitics.. Stat¢mtM of RectsmmeTided Prncticc applitiablc to charitits preparing their accounts sn accordance with the Financial Reporting Stsndard applicable in the IJK and Republic of Ireland {FRS 102) (effecitve l Januory 2019),, FiMan¢ial Reporting Standard 102 The l-'inancial Reportifig StandaTd applicabl¢ in the UK and Republi¢ of Ireland, the Chariti¢$ Act 2011. The filloncial statements have been pJrpar¢d under ihe hISrICaL ¢ost ¢onvention_ Incomt All incom¢ is r¢¢ognised in the Stat¢meni of Financial A¢tivities on¢¢ the Charity has entitlemeni io th¢ fimds, it is probable th8t the income will bc received alld the amouDt can bc measured reliably. Expenditure Liabilities are r¢¢ognised as cxpcnditurc as soon a5 th¢rc is a Icgal or ¢onstru¢tivc obligatioll committing the ¢harity to that ¢xpenditurE, It IS PTobablt that a transfer of economic benefits W17 be required in Bettlenient and the amouni olthe oblig8Lioll ¢8n b¢ m¢asw¢d reliably. Exp¢nditur¢ is gccoun¢¢d for on an bpsis and has been ¢18ssifi<d under heading5 that awp¥aie all cost relatpd to the rategory. Where c05t5 callnot bE directly attributed to particular headings th¢y hav¢ be¢n alloeatrd to activities on a basi5 consistrnc with the ust of r¢sour¢es. Tanglble flxed assets Depreciation is provided at the following annual rates in order to write off each wset over Ats estimated use1 Fr¢ehold prop¢ny 2Yo on cost T4x4tbo Th¢ Gharity is excrnpt frorn tax on its charitable activtties. Fund accounting Umrstiicted funds can b¢ used in arGordanGe with th¢ chllritablE objcthives at the discr¢tioll of th¢ trnstrcs. Restricted fi]nd5 can onty be used for particular restricted purposes within the objecis of the charity. R¢stri¢iions ise when specified by the donor OT when funds are raised for particular restricted purpose5. Fther explan10 Of the rtature and purpose of each fund 1$ inGludcd itt the Trotes to the fjnaftcial statstnetts. INVESTMENf INCOME Deposit account interest 27 Page 6 ontinued...
THE DAVID LOCK HORSEPOOL FOUliDATION NOTES TO THE FINANCIAL STATEMErfs- tontinued FO Invtstment management costs Propety rep87rs 13,098 TRIJSTEES, RKMIINERATtON AND BENEFrrs There were no ttustees, rcmuneration other benefits for the period ended 29 February 2024. Tru$tses' expenyts 'lTher¢ wer¢ no trusttes, eXn5 paid fortho pcriod cn 29 F¢bruary 2024. TANGIBLE FIXED Assyrs Freehold property COST Additions 1.100.000 DEPRECIATION arg¢ for year 18,900 ET BOOK VALUE At 29 Fcbruary 2024 1.081,100 CREDITORS.. AMOUWTS FAI,I,ING DUF. wrrHIN ONE YEAR Trade creditors (Jhcr creditors 14 240.oao 240,014 CREDITORS: AMOUNTS FALLING DLE ArrER MORE THAN ONE YEAR Other credi¢or5 860.000 LOANS attalysis of the maturity of loan5 i5 given below. Amounts falling due wihin one year ott demand.. Othtt loans 240.000 Amounts falling between one and two yeaTS-. Other loans- 1-2 ycars 240.1)00 AnUnts fallin8 due beThween nvo attd fiv¢ yegrs.. Other loalls- 2-5 ycg 620,000 Page 7 continued...
THE DAVID J.OCK IIORSEPOOL FOUNDATION NOTES TO THE FINANCIAL sfATEMENfs- continued PERIOD 9 SE FEB 202 MOVEMEF4T TTr' FIJYDS N¢t movemEht in funds At 29.2.24 Llnrejtricted funds GenetaL fwid 71,288 71,288 TOTAL FllINDS 71288 71,288 N¢t movement in nds. included in rh¢ abov¢ are as follow5.. Incorning resourees Resources expended ID filnds iintestricÉed funds General fund 127,641 (56,353) 71288 TOTAL FUNDS 127,641 (56,353) 71,288 RELATED PARIV T)ISC.I,OSURES £120,000 of donations wete pE¥)vided by Adept Core Homes Limited. an associated company Thith mllb]g1 controlling inr¢sts. Page 8
THE DAVID LOCK HORSEPOOL FOUNDATION DETLD STATEMEP4T OF FifiANCIAL ACTIVITIES FOR THE PERIOD 9 SEPTEMBER 2022 TO 29 FEBRUARY 2024 INCOME AND ENDOWMEvrs Don#tlons Iweles t)onaiions Livery fees Te¢¢ived 125.553 2,061 127,614 1Dv¢$tMtt Income Deposit interest 27 TTrtaI incoming resourees 127.641 EXPEIYDITURE Investment mA114g¢m¢nt e(*$ts Property repairs 13,098 Cbaritable ietivities lll5urance Light and Iieat Advertising 714 388 583 1,685 Swrt ¢ost$ FinaTJce Bank cliarg¢s Freehold prop 60 18,900 18,960 GovernAnte cost5 Other lesal and professional fees ?2.610 Total rfsL)urGe5 expended 56,353 income 71288 This page does not fom part of th¢ ststutory financial stat¢ments Page 9