Charity registration number 1202072 THE LAMBERTH FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 NOVEMBER 2023 THE LAMBERTH FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trust•è$ Mr P Mustoe Mrs J Collins Mr R P J Lamberth Charity number 1202072 A¢¢ountsnt$ LB Group Advisory Limited Icolchesterl The Octagon Suite E2 2nd Floor Middleborough Col¢hesler Essex C01 1TG THE LAMBERTH FOUNDATION CONTENTS Page Trustees. report A¢¢ountsnts' report Stslemenl of financial a¢livilies Slalernenl of financial position Notes lo the financial slalemenls THE LAMBERTH FOUNDATION TRUSTEES. REPORT FOR THE PERIOD ENDED 30 NOVEMBER 2023 The Trustees present their annual report and financial statements for the period ended 30 November 2023. The financial slalemenls have been prepared in accordance with the accounting policies sel out in note 1 to the financial slalemenls and comply with the Charity's Igc)verning documenll, the Charities Act 2011 and "Ac¢ounling and Reporting by Charities". Slalemenl of Re¢ommended Practi￿ applicable lo charities preparing their a¢¢ounls in a¢¢ordance with the Financial Reporb'ng Standard appli¢able in the UK and Ropublic of Ireland IFRS 1021. (effective 1 January 20191. Objectives and activities The ¢harity's obje¢tives are the prevention of religf of poverty in the UK and Portugal by providing grant's, items and services to individuals in need andlor Charities, or other organisations working to prevent or relieve poverty. We stsrt with a simple question 'How ¢an we make a difference?1 We are rnaking a difference through direct educational sponsorship, school building projects-, provision of books and other school supplies,. instsllalion of play equiprnenl., payment of medical and health expenses, distribution of food and clothing and direct support for hornelessness. We achieve our objectives by working alongside individuals, communities and local organisalions to bring about long-terrn change and hope for a brighter future. We currently have three Iruslees. We adhere lo legal reslriclions on appointing Iruslees. No actual experience is required but we look for specific knowledge and past experience in the kind of work we do in the various regions and countries we work in. Trustees can hold office for five years after which they can and may not be reappointed. Throughout the period the trustees have paid due regard to the guidance issued by the Charity Commission on public benefit. The trustees have paid due regard lo guidance issued by the Charity Commission in deciding what adivib'es the Charity should undertake. The Trustees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the Charity should undertake. Achievements and performance We are a newly-eslablished, small, non-profit organisalion and aim to irnprove welfare of disadvantaged people. We have performed well in maintaining a year-round Soup Kitchen for those on low income and a resource room for abused young people. We have worked closely with other volunteers lo provide Seasonal toys for disadvantaged hildren and financially supported local community projects, We continue to work on the ground lo support homeless ptrople on the streets. Financial review To date all funding for the Charity has been provided by the Founder and th& Foundation has plans lo raise funds for spe¢ifi¢ projects in future years as and when the need aristrs. Structure, governance and management The Charity is a company limited by guarantee. The Trustees who served during the period and up lo the date of signature of the financial statements were= Mr P Musloe Mrs J Collins Mr R P J Lamberth THE LAMBERTH FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 30 NOVEMBER 2023 The Trustees, report was approved by the Board of Trustees. Mr P Mustoe Trustèe 27109/2024 Dale.. THE LAMBERTH FOUNDATION CHARTERED ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE LAMBERTH FOUNDATION FOR THE PERIOD ENDED 30 NOVEMBER 2023 These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the period ended 30 November 2023. This report is made to the charitls Trustees, as a body, in accordance with the terms of our engagement letter dated 7 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of The Lamberth Foundation and state those matters that we have agreed to state to the charills Trustees, as a body, in this report in accordance with ICAEW Technical Release 07116 AAF. To the fvllesl extent permitted by law, we do not accept or assume responsibility lo anyone other than The Lamberth Foundation and the charills Trustees as a body, for our work or for this report. It is your duty to ensure thal The Larnberth Foundation has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of The Lamberth Foundation. You consider that The Lamberth Foundation is exempt from the statutory audit requirement for the period, and is not required lo obtain an independent examiner's report.} We have not been instrLJ¢ted to carry out an audit or a review of the financial statements of The Lamberth Foundation. For this rèason, we have not verified the a¢curacy or Completeness of the accounting re¢ords or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. LB Group Advisory Limited Icolchesterl A¢¢ountsnt The Octagon Suite E2 2nd Floor Middleborough Colchester Essex C01 1TG THE LAMBERTH FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 30 NOVEMBER 2023 Unrostrictad funds 2023 Notès Income from: Donations and legacies 18,357 Ex enditure on: Charitable activities 16,708 Other 1,500 Total expenditure 18,208 Net in¢ome for the periodl Net movement In funds 149 Fund balances a124 February 2023 Fund balances at 30 November 2023 149 The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from ￿ntinUIng a¢tivities. THE LAMBERTH FOUNDATION STATEMENT OF FINANCIAL POSITION AS AT 30 NOVEMBER 2023 2023 Notes Current assets Debtors Cash at bank and in hand 6,000 250 6,250 16,1011 Credltors: amounts falllng due wlthln one year Nel current assets 149 Income funds Unreslricled funds 149 149 The trustees have not required the charity lo obtsin an audit of ils financial statements for the period in question in accordance with section 476. 27/0912024 The financial statements were approved by the Trustees on . Mr P Mustoe Trustee THE LAMBERTH FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 NOVEMBER 2023 Accountlng pollcle$ Charity information The Lamberth Foundation is a charity registered with The Regulator for Charities in England and Wales. The principle place of bLJsiness is Art House, 2C Inner Park Road, Wimbledon, London, SW19 6DZ, UK. 1.1 Reporting period The financial statements have been prepared for an accounting period not equal to 12 months due to the current period being the first set of financial statements prepared by the company. 1.2 A¢¢ounting ¢¢nvention The financial statements have been prepared in accordance with the Charity's Igoverning documentl, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Siatement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffective 1 January 20191. 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 have departed from the Charities (Accounls and Reports) Regulations 2008 only to the extent 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 Statement of Recommended Practice which is referred to in the Regulats'ons but which has since been withdrawn. The financial statements are prepared in sterfing, whi¢h is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial slalerllenls have been prepared under the historical cost convention, Imodified lo include the revaluation of freehold properties and to include investment properties and certain financial instruments al fair valuel. The principal accounting policies adopted are set out below. 1.3 Going concern At the lime of approving the financial statements, the Trustees have a reasonable expectslion that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going Concem basis of a¢¢ounling in preparing the financial statements. 1.4 Charltsble funds Unrestricted funds are available for use at the discretion of the TrLJStees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as lo how they may be used. The purposes and uses of the reslricled funds are set out in the notes to the financial statements. Endowment funds are subject lo specific conditions by donors that the capitsl must be rnaintsined by the Charity. 1.5 Income Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amoLJnts can be measured reliably, and it is probable that income will be received. Income represents amounts re￿1vable from fundraising, grants and donations and other sundry items. THE LAMBERTH FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 30 NOVEMBER 2023 Accounting policies Icontinuedl 1.6 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in selllemenl, and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. 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 allribulable to a single activity are 8lloc8led diredly to that aclivily. Sh8red costs which contribute lo more than one activity and support Costs which are not attributsble lo a single activity are apportioned between those adivities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. 1.7 Cash and Cash oqulvalonts 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. 1.8 Flnanclal Instruments The Charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instrurnenls Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instruThenl. Financial assets and liabilities are offset, with the nel amounts presented in the financial slalerllenls, when there is a legally enforceable right lo sel off the recognised amounts and there is an Intention lo settle on a nel basis or lo reali5e the as5el and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement conslilules a financing Iransaclion, where the transaction is me8sured al the present value of the future receipts dis¢ounl&d at a market rale of interest. Financial asstrts classrfied as r&¢eiv8ble within one year are not 8mortised. Basic financial liabilities Basic financi81 liabilities. including ¢redilors and bank loans are initially rtrcognised al transaction price unless the arrangement conslitules 8 financing Iransa¢lion. wher& the debt instrument is measured at the prestrnl value of the future payments dis¢ounled at a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised ¢ost, using the effective interest rate method. Trade creditors are obligations to pay for goods or ServI￿S 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 finan¢ial liabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. THE LAMBERTH FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 30 NOVEMBER 2023 Accounting policies Icontinuedl 1.9 Employee benefits The cost of any unused holiday enlillement is recognised in the period in which the employee's services are received. Termination benefits are recognised irnmediately as an expense when the Charity is demonstrably committed to lerminale the ernployrnenl of an employee or lo provide lerminalion benefits. Critical accounting estimates and judgements In the application of the Charity's accounting policies, the Trustees are reqLJired to make judgements. estimates and assumptions aboLJt the carrying amount of assets and liabilities that are not readily apparent from other SoUr￿s. The eslimates and associated assumptions are based on hislorical experience and other faclors thal are considered to be relevant. Actual results may differ from Ihese estimates. The estimates and underfying 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. Donatlons and lega¢l8$ Unrestricted funds 2023 Donations and gtfts 18,357 Charitable activities Charitable Expenditure 2023 Charitable expenditure 16,708 Trustees None of the Trustees lor any persons connected with them) received any remuneration or benefits from the Charity during the period. THE LAMBERTH FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 30 NOVEMBER 2023 Employoes The average monthly number of employees during the period was- 2023 Number Total There were no employees whose annual remunerab'on was more than £60.000. Other Unrestricted funds 2023 Other expenditure 1,500 1,500 Debtors 2023 Amounts falllng due wlthln one year: Prepayments and accrued income 6,000 Creditors- amounts falling due within one year 2023 Other creditors Accruals and deferred income 4,601 1,500 6,101 10 Audit Requirement The trustees have confirmed that the charity is exempl from a full audit based on their size. 11 Related party transactions There were no dis¢losable related paty transactions during the period.