REGISTERED CHARITY NUMBER: 121)2529 Wrighi Vigar Lithited Stsfvtory Audito Mortojt Hollse 12 App]etonQat¢ Newark NG24 IJY
THE LEA THERLAND FLYING TRAINING TRUST CONTFNTS F THE FIiYANCIAL STATEMENTS FOR THE PERIOD 2 CH2 TO 30 JUNE 20 Page Report of the Trnstee$ Report Df the Indetxndent Auditors Ststsrnent of FID8ncisl Actlvities Balanee Sheet Co$h Flow Statement 10 Tr4otes to the Cash Flow Statement Notes to the FinaDcial Ststements 12 to 15
The trustees ptryt their T¢rt with the fioall¢M ¥tat¢mettts of the charity for th¢ wicd 28 MCh 2023 to 30 June 2024. The tntyte&s have adoptrd th¢ provisions of A¢wwiting and Repoiting by fvities.. St8trment of R¢ethnrneDdcd Prartice applicabk to charities prepu1 their ID &c¢ordaDce wth the Financial Rwting Standard applicable in the UK and Repllblic of Irela] (FRS 1021 {¢ff¢d1 l Jmuary 2019). Th¢ finallcial statemerts have been in accordajw with the w>]icie8 %1 ijut in th¢ no¢¢s to the aceounts and cotnpty wiih tb¢ Charty's 8ov¢ming documonl th¢ Chariii¢s Act 2011 and Acrowittihg aDd RffpDrtitig by Chaxili¢s'. stsienKnt of Re¢iMnmeth Pra1 applible to thrities preparing their accounts in awoTdw with the Finmcial Reporting Standard applic4bl£ in the UK and Rwublic of Ireland published in O¢Lthr2019. OWEcfivES AND ACllVITILS Objfetives a)Ml aim Th¢ original object8 of the Charity were to fid tWittrainiDg foryoullg people UDd¢r 30 5Y8TS okl within the East MidiJttds to a of 15 I8 PErcandidAtr. Dlle to the rfflrow scy of the8¢ objects and limited (yportteS to provide fimdittB. the trug¢¢v5 to tht Commissitinths to widen the obi¢cts to the g¢ogrnphical ar¢a of England and Wales and itre the n]muM fyiti8 htyjrs to 30 per ¢andidate. Th¢ &tn¢nded obj#4 were apwoved on 6 Marth 225. The fvnding will be mad¢ by way ¢Jf a bu8y. sIEnIfint attlvllles The awaTding af burwies and tbe 8onwatM)ll of invesknent iorne wiu be the Charities TDain activity. No butsories thav¢ been awarded in this initiaiwiod. Public ben¢ftt The Tnwccs ar¢ aware that th¢y (any th¢ adivAlÈes forth¢ pubiie befit aDd that they Jnllyt pay due regard to th¢ guida tspublic bo)efit issued by th¢ Charity Commissirn. CrMlmakl The Chhrity ain to rnak¢ buTsarieg of between £50.OW and £75,IA)O per 8nnum to be made from inwne rated.Th0 chlty will WO with flyin8 clubs io adverlise the grnnt% availabk. applications in vniiiJ]g to the tr¢S will necessary. AtwlicatiorLq WIU considereJ bd OD the objects of the charity gndthe applicatts fiR1 po5ition&Th¢ tn¥tee8 will s a tth8¢t for grants arKi JThonitor the fimds available. drbin% The doe5 rtot tany fuDd rJisillgaCtiviue$ ACHIEVEMENf AND PERFOIIMANCE CrItb ae¢lvltl¢s This is the Initi ttportimg perfo& the a¢tIVit have be¢n focused on e4tsbltshin8 acwuntitig rrtordg, 0[1n& ittk accowitg w]d making InY¢51ments kngaber with planniug for th¢ estsb]ishment of JitQs with ttyiti8 thbs with a vi¢w to reivIng applicati1 for firtuts bursari. FuDdTi¥illg •ctfvltles The or¢no fi)ndraisiti8 Octivities 1TrYesent perfonD•nc¢ The trlls*es 8¢ek tD athe a of 4Y SY. whilst maitttairnng rapithl. The ioiti81 illvestrneut wag mad¢ on l F¢bn]ary 2024 and a re¢W on I l March 2025 gbowed a totsl net r¢turn of 6.5%. Page I
IIATHER
FLV
RE
ORT OF THE
R T
Bl
USTEES
28
2023 TO 30
F]f4ANCIAL REVIEIV
The net 18sets ofthe (Jwity are £1977.995 at tlLe period ¢n4 vkni¢hT¢]xents net ittC4)m¢ trot has TKcived cowiststig
rnainty of the initsal legacy setsillg Np the Charity.
PriRdp81 f•ndlDg r<
Th¢ prillcipal fimdfrJ8 wur¢e i inveslmenl iticiyne.
tnvestwent polity •*d obJeetiv¢&
The financial objeetive3 of th¢ rlhgriry is to 81 l¢ty Maint the red value of a&S whi18t 8¢DErJtittg 4 St•ble and sustainable
return to fund grant makin& The Trust¢rf seek to achieve a Fdum of 4Y4P 5% wht16t mailltainmg capitsl. At att aggregat¢
level the overall trfolio risk 8knuld be Cautious. rnvirnttmaKal and eth ¢on5iderdti5 are Dcrt tak¢M irrto
Reservej pol
The trustees haye resolv¢d to the l¢v¢l of resthvu at th¢ vAlue of th¢ ID1tl legao of £1,952,510 8llowln8 for
fluctitIOS in th¢ inY¢sts)Jellt mark¢t.Thc r¢sme8 ar¢ wJre8trKted fnnds.The Th$erV pDitiveste4 aryl readily avaÉlable lo
cover andnllmi costs ar¢ £204,335.
The fjnancftal ObjeiVeS of trK cbhrity 15 lo at least maintaiD the real value of assets whilst gen¢Talins astabk and su5tsinable
raum th fund grant The Charty aims to )llake bursaTi¢$ of betweeu £50,0(X) a1 £75,(KKI w attt)wn to be JDad¢
from generated. The Charity is planning fir th¢ est8b]is])murt of lith with fying ¢luiM wlth o vi
LEA RTO OR THE STEES AR Principal #ddr¢J• 29 Arborellmn Stre NortinghamsbiT¢ NGI 4JA Tryste A R 118ttsy Chartered Certifjd AC<oUntt (OPFN)inttsl 28.3.23) Mrs H E M¢¢millan Accwntsllt{aWiinted 283.11) Wright Vigar Limited sthtutory AuditLY Morton Hou8e 12 Appleton Gat¢ Newark NG24 IJY Solicitors Ashton BoDd Gtgg 13 Ca$d¢bridge Offi Village KlleY DrAv¢ Nottingham NG7 IUT Imvg51ith¢nt Advl%n MFL4 Wea]th Lock8at¢s House Rwhmills Bedford Road Northampton NN4 7YB B*nkeFs HSBC 85 LEwisharn Higb Street LO]On SE13 6BB Ac¢ountants 29 Arl1 Street NottinaM NGI 4JA REPORTIiYG PERIOD The period ¢overed by the financial staternents is mor¢ thon 12 MO a8 this 1$ the fJTsi p101 the legal athrity io challge the acfA)unting period is included ID tho Charities Act 2011. Pa8e 3
LEATHERLAND FLYING TRAINING TRU REPO F THE ThUSTEES FOR THE PEXIOD 2 MARCH 2023 TO 30 JUNE TRUSTEES, RLSPONSIBJLITY STATEMENr The b7tstees re5]]LS1b1e for prepa the Rq)ort of thè TvJste¢s and the 6Daocial #atunents in 8¢¢oFdan¢e Mith app]icabl¢ law and Unitrd KinÉdom AOuntr8 Stand#ftts (United Kingdom GenerlY Accomed Accowin8 PrKlice) in¢luding Flnaftci Rep(ting StaTK]aTd 102 'The F2twici R¢porting Stsndard aFpl]bI¢ the UK Republi¢ of The law 8ppIic8b]e to thIll¢S in England and Walc5. the Charities Ad 201 E, CbpTiry (Accounts a1 Reports) Regulations 2(rt18 attd the provisions of the tntst deed requires the Mte¢S to prepare fironciai statalletts fty each fuwKio1 ye4r which give a tru¢ and fair VI of th¢ st of a)Yairs of the ch&rity aNI of the iA¢oming r¢souKes and application of resowr¢5, including thr and eXPditi< of the cIlty fpr that perio& Jn pnparing tlw fina11 5tatenK)ts. the tTree5 are Tequir&l 3¢1¢¢t $uitsble accwnting polici¢s th¢D apply them consis1. obs¢rye the methods and principles in th¢ Charity SOBP. make Judgts and estimaw ihat ore re&wnabl¢ andPnth. slat¢ wb¢dw spp]ie&ble ac4ouD&ing st&ard& bave been follow¢iL subi¢¢t to aDy mattrial departures di70$¢d and ¢xpiain¢d Ati the fitwKial atement4 prepare the fina[ *¥I)ents on th# 80ing wicern lJasi$ uftl¢s& it is inaFympriote to presume that th¢ ¢hBrity wlll The trwtces are r115]ble f kwing Proper ¢0]ng rccord% wbich disclose with T¢4sonable acwacy at any tim¢ the ry]athGial position of Lhe charity and to enabk to ctssure the fmaneit] stat¢nxnts r(xnply with the ChaTitt¥s A¢t 2011, the Ch¥Aty (AcwuDts and R$) RcsulatiOn£ 2008 the IvISiOns of the ¢nt decd. They are aiso resp)nsible for safewding the asws of th¢ tharity andh¢e ftytsknng r¢&qOjIe step5 for ryevcntion And detethiott of frsmd and ottw inrglllarities. Approv¢d by otd¢rof the ith OftritecS on 10 April 2025 and signed on Sty behBlfty. A R Ilarby. The¢
ENT ERL Opnlo W¢ have avdited the fwoncial statemeTts of Th¢ latherland Flying Training Trust {the 'rTrJarityJ for the peTiod thjed 30 June 2024 which comprise the Stst¢rnrnt of Fitmnciai A1ville5. the Balance Sheel th¢ Cash Flow Statement alld to the fiijatietsl statents, iDolnding a 3lUTJntary of 5i8hAficmt acCOtIng policies. The fiJwL¢ial Teporting fratD¢WOtt that b&$ ix¢n applied in their pr¢paration is appli¢8ble law and United Kingdom A¢¢ounliDg StaJdard8 (United KiDsdom Genmlly Aeceptrd AccwitiDg Pra¢ti¢¢). irtcludins Financial ReportiJ8 StsadaTd 102'Tr fii]wicial Retill8 Siat]dard app]i¢ablc ' the UK end Republie ofIrelaTKI'. In our (wiDioD th6 finan¢ial stÉtem¢nts: give a trne and fair view of the stste of the chwity8 Affai as at 30 JuDe 2024 and of its 1MnI resOWW 8nd applicatio of resources, forthe pttiod thcn ende4. have been pmwly PTepDred in accord8llc¢ with United KiD8dorn Genernlty Acwted A¢wvnlin8 Pr11¢¢, inch¥Jing Financial Reportin8 Stattthrd 102 The Fitwicial Reportiog StaDdaTd applicable in the UK ad Rrpublic of Ireland: aJJd have Len pr¢FMred in ac&ordan¢¢with the requirements ofthe ChaTities Art 2011. Basis for OPiDitin We conducted ow a71¢ in 0rdt with Intfrm¥tiDoal Stsndar(L8 on Auditing (UK) aSA5 (UK)) ond applicable14w. Our res[sIbIlitieS under tbos¢ $tand&ftls ¢ fvrther descri ID the A51t(S. respoJJsk•iliti¢s for the 411t of the fitwKi statemcnts se¢tion of rqjort. We are ind¢pa)dent of tk charity accordan with the ethical requirents that ar¢ Tel¢vant to audit of the fit]anwl $thtlents in the UK in¢luding the FRCS Ethic StandaTI and w¢ have fjjlfiued our other ¢thical trponsIbIlities in accordance with these TequiTements. We believe that the audi¢ evithll¢¢ we have obt&ind . $uifiritht AppfopTiate to provide a basil for our opinion. CottelLtslDns rtlatiRg lo golng Eo#eern In the 5tawn¢nts. we have con¢luded that tbe tsiwes, use of th¢ goitig ¢0sJc¢m basig of a¢countiDg i the prepMtl ofthe f]nancial 1$ apFopriate. Based on the wtbav¢ perfOrnd, we have identified atty uTrcertaitrties relating to events or conditions tboL iDdividually OT colkdivety, may e&8t sigllifjcant doubt on the LIlS ability to conti1 &8 a going Con ts 8 period of at least twelve TIwths frtsm when the fLnanrial strtemc1 are authorised for issL. Our r¢spMsthilities the Tesponsithliti¢$ of ihe truytees SpeCt to going concern are d¢scrthed IL th¢ rel¢vant srGtion5 of this report other Inforwiti¢bn The twsteex are respcfflsibl¢ fry tt¢ other inforniation. The othcr infOrn10D ¢ornpi5es the Jufmtion inch]ded ia the Annual Report, oth¢r than th¢ fiT)onci&l ststemputs and our Retx)rt of th¢ IndeIlentAUd1t0Th ther. Ow opiniuR f¢]1 stskjnonts do not cover th¢ other infonration arwj, ex¢eEM to thc extent othen¥ise ¢ylicAtly ID 4)urworL we do not express any forni of assur&nce concl1{ therwn. In cA)ntttl0 with (w audit of tl financial s#temLmts. our pOnsIbIlity is to re the otb¢r inforn]ation in doittE so, consider whgther th¢ other infmnaiion is materially incollsi51eJ]t with tlk financial statements or owkttowl¢dge obtsit)¢d im the audit or otherThv¢ app¢rs to be m8terialty mis5tsted. If we identify such terIal ittconsisteneies apparent m&tcial isstatements, w¢ ar¢ rr9uupd to detLXThille whether this gives rise to a material misstaternent in the fiDAncial statem themselves. If, ba%d on the wojt we FAV¢ p¢rfomiel we conclude that there is a M*Ial misthtenent of this L%b inforntitio we are wU}ra to repOrtth W W¢ h&ve llothll to Tewt in this T¢Wd. M#tteTS on whieh wt are requlr¢d to report by exeeptio We h2ve nothiog to report in le¢t of the following matters wb¢T¥ th• Charities {Ac¢ouDts Reports) ReguktiO 2008 requtres us to report to you if, fft ow oprlioti: the infornW&on in the Rwrt ofthe Trustees is inmistent ia anymateriAI reSpeCtth the finAwial stateiiJ¢nts; sufficient accounting re¢ord4 bavt JM)t been kepl OT ihe fmancial statrm¢L are not in agTe¢ll]¢FJt with the accounting reCoS and returns. I we have not receid all the iLforJnaiion aDd exptanatiojs we require forour adIt. Page J
RTOF THE LEA EPE EN RSTOTH ING R¥ponsibllltl¢s Df trustttg As ¢xpiaiThed more fulty in the TTUSttts' Re8ponsli )ilitit5 Statrmert tr tswteeg aff responsible for tb¢ pr¢pBf8tion of the fumckal sfAtements which $ive and fair view. and foT such illl¢mal ¢olltroI as th¢ truste¢s dtterM1 is neee&8ary to ¢rAbk the preparntioj) of fuw]lL statyn thÈt ar¢ fre¢ m8rial JnissiaiemeDt. wbAher thieto fra1 or ermr. In preparing tILe fwancial 5tstemcths, the ttIL8tee8 ar¢ TV5pDn#ible for asses#ing the chwiWs ab11Y io c(ttiDue a5 a 80ing COTWrn, disclosill& a& applicabk, matrs r¢l¢d to going c(mcern atMI using the going rc¢M b&8is of accountiD8 utsless the trustegg eithu intrnd to liquid&e the djarity orto ¢ease OPall0. orhave DO r¢ali#i¢ alternative bthto do I. Our T¢wn$lbllltltt for the #udlt of the flDa•¢lil t¢¢ts W¢ hav¢ b¢tn appointed ab auditors under Sectioft 144 of tb¢ ritieS Act 2011 and repwt iJ] Occordat with the kn and l¢YaAt regulatio]k8 Jnad¢ orhaviDg¢ffed thereullder. Ow obje(lives are to obtain reasonable assur about the financial ytatements a8 a whol¢ ore free nthtsri mi>atem¢nL whetber du¢ to fraud or error, to issue a Rw?rt of the tndqtht Audiknrs that inchth5 our opinion. R¢8s0nable aSSUTance 15 a bigh level of assuranc¢ bllt is not a tha¢ an audit ¢01eted in rd¢t with ISAS (UK) will alwa detect a tithtrrl mi53tat¢n)ent whell it ¢Xists. Misstatpn¢nts cath ar from ftaud or effor and are con6id¢Ted material if, individua]Iy OT in the a88re8at4 thry could r¢4$onty be expe¢d to Itth[ the economic d¢cisions ofu8et8 tsken on th¢ b85is of thwe fjtsancial statrmejts. The extent to whidl our are c¥4>able of detecting i¢8]aTIC'1 including fraud is detailed below: Ow WQTk is wfornwd to incJud¢ att ass1 of the susceptibllity of thè entitys fman¢iaJ st8t¢ttteffLts to mat¢rial misstam¢rdL ildU the iisk of fraud. Owing to th¢ 1]thetIlmithtlonS of an audiL there 18 an aVoIdablp risk th&¢ at¢ri81 mis$tat¢llKllts in the finallcial stattmeTrts may ntxbe d¢t¢rte<L even tbougb the aimiit 1$ prowty planned and forTncd in accordallce tb tlL¢ ISAS OJK). In identifyllig and assessingris of rntteTial misstlltemellt ID Tebwt of iff¢8ularities. includ1 •ndn0n-COD]1WllCt with18W5 and re8ulatiOD5, ow pyocedures include4t the followAn8'. - We plan ¢)ur work to gain an UnderdIg of the sigEJific8ni Jaws 8Dd reiatiOnS that are of $i1r1 to th¢ tmiry and the se¢tor in which they o•. W¢ rf0m] our workio ensure tbatthe enttiy 19 cthDpIyiL8 with its legal and regu]w frafflework. - We obtsined an underst#nding of ljow the ¢ompany is complying with thLKse le8al oDd Teglllat£ry frWnewO by makin8 inqviTiCS to the mAnJgerne and pe4)ple ¢haTged with governaNre. We assessed the su8¢eptibilRty of th¢ Conlpany's fy)allci ststeTheThtS to miSateaL including how fraud migbt o¢cur. Audit wocedures perforn by the engagem¢nl team in¢lud8d.. - Substantive prrtedure$[0nlled ID a¢Id81C with the ISAS (UK). . Challenging assuwions ad judgments made by nkw¢m¢nt itt its siguifirwrt accounting ¢stiD]al. . Identifying and t¢stin8 journal entries, ID particular rnat#ial jthunal eDtrie$ llnd an a85¢5Sth of year end jOWDals. . A3srssiD¥ the ektetht of comp]ICe with the relevant lawd regulations A furtber description of T¢sponbilitieS for the audi¢ of the financial statements is l(KJt£d on the Finartti Reporting C4)uncil's w¢b5it¢ at Nw.fr¢.ory.uklaitorSr¢sWllBlbIiit1e5. This de8criptiOll fom]s of Report of the ]nd¢Fdtt Auditors. Page 6
RFPORT OF THE INDEPENDENT AUDITORS TO THE TRUSIEES OF THE LEA THERLAND FLYING T rqiNG TRU Use Df our rep)rt This repjrt is made sokly to th ¢thorI$ trusie¢s, as a body. in accordance with Port 4 of the Chatiti¢s {A¢Munts and Rel$) RetiOnS 2008. Our audrt work has b¢¢n undettkn so that we migbt ¥t4t¢ to the clmritys trustees thos¢ JDatt¢rs we tre required to state them An wjitors, rwrt and fw no other pury05e. To ihe fvllest cent perolltted by law. w¢ do nert #ccept or assunL¢ responsibility to anyone ottw (baD the charity and the chwity'5 trLStees as a ivly, for our audil WOEK for this rep)It or frt the opinioLq w¢ ¥< fornKd Wri8bt VigaT Limit Morton Howe 12 Appleton Gat¢ NewgJ NG24 IJY ..14. 1(J*JQ5 Page 7
NI) FLYJThG TEMENT OFFINANCIAL AC1TTE E PERIOD 28 MARCH UTJrestri¢t¢d ll¥COME AND ENDOWMENTS VBOM J)OtiatE and lega¢les 1,960.766 30,134 Totil 1.990,9(K) Rtisin8 fiu)ds 30,232 Tol*l 38212 Net gaills on inves1xn¢nts 25.307 IYET INCOME 1,977995 TOTAL FUNDS CARWKD FORWARD 1.977,995 The n(rt¢s fom) pari of these finan¢AI $121¢meDts Page 8
RLAN NING UST 30 Notes 1.719.520 CURRENT ASSETS 62.120 204J35 Cash at baDk 266,455 CREDITORS Amounts fa511 de withiD one year 10 (7.980) NRT CURRENT ASSETS 258,475 TOTAL ASSE13 LESS CUA4RENT LIABILITIES 1.977,995 NET ASSETS 1,977,99J FUNDS UtK¢9tri¢ted funds 1,977.995 TOTAL FUM>S 1.977.995 The financial st&ements w¢r¢ aN0VedY tr¢ Botrd of Thisttt5 and apjthorised (or 10 Awil 2025 and vfft¢ $i8tsed on its lthalf by: A R Iforby. TnLth¢ H E Macthrlkn. TnJst¢e The Dotes fonn p•t ofthese 8tsternets Page 9
LEA D FLYIN R THE fxBIoD 28 MAR T030JU Not¢s Cash flow$ frnTr opertlng a¢¢Mtks Cash generated from operntions Financ¢ costs pald 1.868.464 (50) Nd eagb providedby till8 &L%iviti¢$ ,868,414 Cash frow inve411ng 4¢tlvltlo1 Pwchwe offiK¢4J &55et inve8tments Sale of fixed ass¢t investments JeSt re¢eived Di¥idtnds r¢ceiveA (1351.879) 057.666 2.505 27,629 Net (used iTJyprovided by finv¢stitig activities (1.664.079) Chonge l• o45h 4nd equlvl¢nts Sn the r¢portkni perlo Casb and ¢qufvo]entJ at the beWnDlng of ¢k¢ repDrtkn8 Pkl 2(H.335 ca nd Lyjh ¢qulvlellts at the end ofthe r¢portlJg per11 21M.335 Thenotrs forni pt of these fi#attcial state]]KJ Page 10
ES STA RECOI¥CILIATION OF NET INCOME TO NET CASH FIOW VROM OPERATING ACTIVITIES Net i10¢ for the roporth8 Friwl per the Stat¢m¢nt ofFlnn¢lal Aetivl¢iéi) Adjuslm•llts for: 1.977.995 {25,307) {2.505) 50 (27,629) (62,120) 7,9 tntsrestrettived Finance costs Dividends Tffcived ID d¢btors Net ¢ay& provldEd by OPt)n5 1.868A64 A14ALYSIS OF CHANGES Ir4 NET FUF4DS Ai 28.3.23 Cash flow At 30.624 Net ush Cagb atbank 204.335 204,335 204,335 204,335 Total 204.333 204.335 The no fomi part of the financi a¢rmmts Pagell
RLA OTHE D28MA E 2(124 ACCOUNTING POLICIES B#sJo ofpreparlng the flTraAcll ststements The financiai staternents of the djarity. whi¢h is a public FxDefit cntity und¢T FRS 102, have beth) pwared in acconknce with the Ciwiti¢8 SORP {FRS 102) 'Ac¢ountiJ8 and R¢portlll8 by Chariti¢s.' Statetnent of ReComMffld Practicg applicable to ChItieS pr¢paTll their aca)UDts in WXordw with th¢ Fittancial REFQrtin Standyrd applicabl¢ in the UK 8ttd Republic of Jreland (FRS 102) (effKtive l Jatllmry 2019Y, FAllClaI Reporting Standard l(f2 The FitwKial ReFWting Sthlld appli¢abl¢ in the UK and Republic of Irelatkt aod the ChAfi¢ie5 Acl 2011. The r]nancia] stat¢ments havè bwi preptred under the historical cost C4)mtentioi with the exception of inve51rnents which are included atmarket vaIue, as adified by the revaluation of certain The staknts have been pwttred to 8ive a Irue #nd faiv view and have dErted frorn the Charitie5 (Aounts and Reports) Regulation8 2LM)8 only to the extent required to wovide a and fair vi¢W. Thi$ d¢paTttre has involyed ftillowing the AccouDtiDg and ReP)rti by Charities: Statement of Recom]nen&d Pradicv applithle ¢0 churiti¢5 PT¢parmg their aaLts in (Ordan¢t with the FiJ]4nciai R¢Wli Stalldord opp11b in the UK Republir of tknd igsued iD Cktober 2019 Tather than the ALcounttng ond Rewting by Ciwities.. Statement of RecoDthielld¢d Pwtite e1ve l AprAI 2005 which hLs sin¢¢ b¢eD Withdrawn. The fuclaI siat¢meDts have b¢tyJ preprnl on rl 80ing concern b13, In¢¢¢$ CLntsideT tlv¢ arE mal¢riJl rertainticS al tho Chiritys ability to &¥ a 8OiDg (ceL The financial emen1$ &e pr¢s¢nd in sterling W¢h 1$ the fun¢tiono1 cutrew of the ChKty find Towided to th¢ Th¢ SI1fi&4ttt wjullting pol1 applied in the prewa of th¢s¢ fitialle1 stItsn set ollt below. Atl income is recognised in the ststeml of Fillallcial ActiVili¢5 iynce the charity bas entiilrnt to the fjJDds. it is probabl¢ th8t the Anconlewill be JKeived and tbe allk)unt can be measur¢d reliabty. Expenditure Liabilities ar¢ re¢4)gDiJ¢d as expendituY¢ as soon as thet% is a legal or ¢onstiuctiv¢ obli10 comTnitting the ¢barity to that eXpdlure, it is probable that a transfer of ecLMM)mic benefits will be Nutred in Settlem}1 and the amownt oftbe obligotion can measured reliabty. Exp¢DditUTe is &¢OWited for on an a¢¢nlS basis I been cI45¥ifi¢d der h¢4din8s that 411 cog1 r¢lal¢d lo the Rtr8ory. Where costs be diyecuy athl)utrd to pwti¢uJar headings they have been allocated to activitK5 ona basis ([15t¢ with th¢ wc ors01Jrtt9. Taxalto The cbarity is exempt fro]ntax on charitsbk adivities. Fund tteollnting Unr¢strid¢d fiuth ¢an be used In accord with the ¢harhble obi¢¢tives at the d]Mti of th¢ trwterf. Rtgtriaed fjjllds catt ottly be for particulw rtricted purpos¢s within the (J¢ts of the chaTity. RestrictAOJJS Furtlw expl10 of tb¢ natrre and of ehch fimd i5 itichul¢d ijj th¢ Lotcs tothe fJJj¥Wi stthM. Debtors and Current LlbllllJe4 Debtot5 znd Crnlitors measfftd transaetion pri. sh ot Th¢ Chthy hobJ5 SLet futth in ord¢T to m¢¢t its short t¢Jm cash C4)rnNllt[ts as thry thll due. Pag¢ 12 eontinu¢d..
ININ NOTES TO FORT IAL STATEME Tl) ACCOUNTING POLICILS. eonthiu¢d Inv¢styients ar¢ ifteluded at cost initially IvhÉch is $ubs¢qnthty revthed the muke¢ vwlue 8t the Ye end as d¢tern)ined by the tht'S iAvestmeth man4&ers MHA WEALTH and chang¢s are re<ogni8¢d in net gainsnos8es the Ststement of FI131 Activities. All irnv¢sknn¢nts held prinmily for an invewDtreturn. DONATIONS AND LEGACI 1,952,510 8256 Tox reclaimed 1,960,766 INVESTMENT INCOME 17,719 9,910 2,505 Ikposit 8CCamt int¢r4 30.134 RAISING FUNDS Rl¥lthg doM#tloDs aad lryacieg Stspyort 50 Inv¢s¢mellt mangem¢nt eosts Portfolio twagemeni IDveslmcLt adviee 7,6S4 22.528 30,182 30,232 P88e 13 ¢onlied...
LEATHERLAThD NOTES Tn THE FOR PEIU AN TE 2023 TO 30 SIJPPORT C0913 FiJwi¢e Totsis RaistJ)g donations aNJ Other resow¢u exnded 50 7.980 7.980 50 7.98 &030 AUDTfoRS' REMUNERATION F¢¢s paytbk k> the ¢harity's wditors fw the audil of the ¢harity5 financial statements 2,340 TRUSTEES, REMUNERATION AND BRNEFrrs The no tru#¢e8'ivIiiutieration or other inefits for th¢period emded 30 J¢ 2024. Trllgteu, expen There were no tnLSteos' ¢ATr¢nses paidfor the p¢riod endvj YJ Junt 21Y24. FIXED A&SET INVESTMENTS Listed itivestmeuts MARKET VALUE Additions Diswats 2.351.879 (653,651) 21292 At 30 June 20 1.719.520 NET BOOK VALUE At 30 ju 2024 ,719.520 TbeTe weTe inYestm¢nt Ivith a llwket valu¢ Qf £404.366 outsi& thE UK as at 30.062Q24. JDYe5trtnts Iweserting more than 5% of the tLrtal investments atthe year ettd are. VANGUARD INVS SRS VANGUARD US GOVT BOND IDX GBP £102.649. Pag¢ 14
STOTHEF PERIOD ATEME DEBTORS: AMOUNT3 FALLING DUE WITHtN OIYE YEAR Otkner debtors 62.120 CREDITORS: AMOUNTS FALLINC DUE WITHIN of4E YEAR Cxher ¢r¢dir(Ns 7,980 ii. MOVEMENT FUIYDS N¢t At 30.6.24 Uttreslrleted funds Genml finjd 1.977,W5 1377.995 TOTAL FUNDS 1.977.995 ,977.995 Netmovement in funds, ijjcluded the 8trK)Ye are ag follows: Incoming Mov¢m¢nt fillLd$ UArestrltted G¢neTal fLnd j.990.9c) {38,2J2) 25,307 1,977.995 TOTAL FUNDS 1.990.£Y)O (38212) 25,307 1.977,995 12. RELATED PARTY DISCIA)SURES InCld in accnmls is an amount du¢ lo l£m&ns Chartered Cenifioj Accountants for a¢¢ouW and ¢axatÈon services of £5.640. Th¢ TnJ$tees MrA R Harby and Mr5 H E Ma1]Iall ar¢ Parlner8 An thi5 funL Pag¢ 15