CHARITY REGISTRATION NUMBER: 1207903 LORDSHIP FOUNDATION Unaudited Financial Statements 28 February 2025 G A HARRIS & CO LIMITED Chartered accountants Brulimar House Jubilee Road Middleton Manchester England M24 2LX LORDSHIP FOUNDATION Financial Statements Year ended 28 February 2025 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements LORDSHIP FOUNDATION Trustees, Annual Report Year ended 28 February 2025 The trustees present their report and the unaudited financial statements ofthe charity for the year ended 28 February 2025. Reference and admlnlstratlve detalls Registered charity name LORDSHIP FOUNDATION Charlty reglstratlon number 1207903 Principal office 7 KINGSMERE PLACE LORDSHIP ROAD LONDON N16 5LN United Kingdom The trustees David Salzman Meir Kaufman Malvina Salzman Independent examiner Gary Harris Brulimar House JLJbilee Road Middleton Manchester England M24 2LX Structure. governance and management The charity is a public benefit entity and a registered charity in England and Wales. The charity is conslrtuted as a Charitable Incorporated Organisalion ICIOI. The address of the principal office is 7 Kingsmere Place, Lordship Road, London, N16 5LN, United Kingdom. The trustees are responsible for the overall governan￿, management and strategic direction of the charity and for ensuring that the charity operates in furtherance of ils charitable objectives. The charity's objects are to provide relief to those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage, including through the provision of grants to individuals, charities and organisations working lo prevent hardship and support those in need. The charity also aims lo advance education for the public benefit, including through scholarships, maintenance allowances, grants and support for educational facilities and projects. LORDSHIP FOUNDATION Trustees, Annual Report (contlnued) Year ended 28 February 2025 Objectives and activities The charity's objects are to provide relief to those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage, including through the provision of grants to individuals, charities and organisations working to prevent hardship and support those in need. The charity also aims to advance education for the public benefit, including by awarding scholarships, maintenance allowances and grants, and by assisting in the provision of educational facilities and projects at schools, colleges, universities and other educational establishments. During the period, the charity had not yet commenced operational activities and was awaiting the opening of ils bank account before beginning charitable operations. Accordingly, there was no material charitable expenditure or granl-making activity during the year. Achievgmgnts and performance The charity did not undertake any operational or charitable activities during the year as il was awaiting the opening of ils bank account prior lo commencing operations. Financial review During the year, the charity did not undertake any trading activities and is currently awaiting the opening of ils bank account before commencing operations. Accordingly. there has been no material financial activity during the period. The trustees remain confident that, once the bank account is in place, the charity will be well positioned lo pursue its charitable objectives of relieving those in need by reason of youth, age, ill-heallh. disability, financial hardship or other disadvantage. including through the provision of grants to individuals, charities and organisations, as well as advancing education through scholarships, maintenance allowances and support for educational facilities and projects. As the charity has not yet commenced aclivilies, it does not currently hold any reserves. The trustees intend to establish a fomial reserves policy once the charity begins re￿Iving income. The trustees, annual report was approved on 28 May 2026 and signed on behalf of the board of trustees by: David Sa&man Trustee LORDSHIP FOUNDATION Independent Examiner's Report to the Trustees of LORDSHIP FOUNDATION Year ended 28 February 2025 I report lo the trustees on my examination of the financial statements of LORDSHIP FOUNDATION I'the charily'l for the year ended 28 February 2025. Responslbllltles and basls 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'lhe Act'l. I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material mallers have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act., or the financial statements do not accord with those records,. or the financial statements do not comply with the applicable requirements concerning the fomi and content of accounts set out in the Charities IAccounls and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached. Gary Harris Independent Examiner Brulimar House Jubilee Road Middleton Manchester England M24 2LX 28 May 2026 LORDSHIP FOUNDATION Statement of Financial Activities Year ended 28 February 2025 2025 Total funds Note Total Income Total expendlture Net income Reconciliation of funds Total funds brought forward Total funds carried forward The notes on pages 6 to B forni part of these finaneial stat8merts. LORDSHIP FOUNDATION Statement of Financial Position 28 February 2025 2025 Note These financial statements were approved by the board of trustees and aulhorised for issue on 28 May 2026, and are signed on behalf of the board by.. p.-,J s.i. David Salzman Trustee The notes on pages 6 to B forni part of these finaneial stat8merts. LORDSHIP FOUNDATION Notes to the Financial Statements Year ended 28 February 2025 General information The charity is a public benefit entity and a registered charity in England and Wales. The charity is constituted as a Charitable Incorporated Organisation ICIOI. Statement of Compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Charities Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured al fair value through income or expenditure. The financial stslements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Staternent of financial activities Judgements and key sources of estimation unceriainty The preparation of the financial statements did not require the trustees to make any significant judgements, estimates or assumptions. Fund accountlng Unreslricled funds are available for use at the discretion of the Iruslees to further any of the charity's purposes. Designated funds are unreslricled funds eamiarked by the trustees for particular future project or commitment. Restricted funds are subjected lo restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes.. reslricled income funds or endowment funds. LORDSHIP FOUNDATION Notes to the Financial Statements (conllnued) Year ended 28 February 2025 Accounting policies (conllnuedj Incomlng resourees All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., il is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entillement to the gift, receipt is probable and its amount can be measured reli8bly. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably, in which case the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when reTrived if the value can be reliably measured. No amounts are Included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for il lo be spent on a particular purpose and returned if unspent, in which case il may be regarded as reslricled. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities lo which it relates.. expenditure on raising funds includes the costs of all fundraising aclivilies, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of its beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that aclivily. Shared costs are apportioned be￿een the activities they contribute lo on a reasonable, justifiable and consistent basis. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially rec￿nISed at the amount receivable or payable including any related transaction costs. LORDSHIP FOUNDATION Notes to the Financial Statements (conllnued) Year ended 28 February 2025 Accounting policies (conllnuedj Flnanclal Instruments (conllnued) Current assets and current liabilities are subsequently measured al the cash or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequendy measured al amortised cost. Where investments in shares are publicly traded or their fair value can olhetwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. other financial instruments, including derivatives, are initially recognised al fair value, unless payment for an asset is deferred beyond normal business terms or financed al a rale of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted al a market rate of Interest for a similar debt inslrumenl. Other financial instruments are subsequently measured al fair value, with any changes re¢ognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting dale. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Stsff costs The average head count of employees during the year was Nil. No employee received employee benefits of more than £60,000 during the year12024'. Nill. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.