**Charity registration number 247300**
## **THE LANGDALE TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **THE LANGDALE TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** S Morris K Morris D Warrender L Warrender F Giles (Appointed 11 May 2022) C Giles (Appointed 11 May 2022) S Lee (Appointed 11 May 2022) **Charity number** 247300 **Independent examiner** Skye Business Support Ltd 111 New Union Street Coventry, CV1 2NT **Bankers** Lloyds Bank PLC 25 Gresham Street London
## **THE LANGDALE TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 10|
## **THE LANGDALE TRUST**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
The trustees present their annual report and financial statements for the year ended 31 December 2022.
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 [governing document], 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 objectives of the charity are;
- To be available to children with special education needs and their families; and
- To those affected by poverty or social and economic inequalities
- To make available 5.2 acres of land in Berkswell, Solihull for the purpose of 'retreat, respite and recuperation', thus improving mental wellbeing for all.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## **Financial review**
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The board of trustees have examined the major strategic, business and operational risks to which the charity is exposed, particularly related to the operations and finances of the trust, and are satisfied that systems are in place to mitigate its exposure to them.
## **Plans for future periods**
Given the current difficult financial conditions, the charity will focus on trying to maximise its income whilst ensuring that the assets of the charity are not put at significant risk. The Charity continues to remain committed to its objectives of supporting the local community.
## **Structure, governance and management**
The charity is a company limited by guarantee .... .
|The trustees who served during|the year and up to the date of signature of the financial statements were:|
|---|---|
|S Morris||
|K Morris||
|D Warrender||
|L Warrender||
|R Silver|(Resigned 30 November 2022)|
|F Giles|(Appointed 11 May 2022)|
|C Giles|(Appointed 11 May 2022)|
|S Lee|(Appointed 11 May 2022)|
Trustees are appointed and elected in accordance with the terms set out in the governing document.
- 1 -
## **THE LANGDALE TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
The charity is headed by its trustees who are ultimately responsible for day to day operations. Decisions made in formal trustee meetings are communicated to staff who perform direct and administrative roles, and overseen by the trustees.
The current members of the Board of Trustees are set out on the information page. All appointments were approved at the Charity's AGM and there were no other movements during the year.
New trustees may be co-opted by the existing trustees and undergo familiarisation training in the nature and objects of the charity and financial accounting matters.
The trustees' report was approved by the Board of Trustees.
.............................. .............................. D Warrender L Warrender **Trustee Trustee**
Date: .............................................
- 2 -
## **THE LANGDALE TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE LANGDALE TRUST**
I report to the trustees on my examination of the financial statements of The Langdale Trust (the charity) for the year ended 31 December 2022.
## **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 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts 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 financial statements to be reached.
**Skye Business Support Ltd 111 New Union Street Coventry CV1 2NT**
Dated: .........................
- 3 -
## **THE LANGDALE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income from:**
Donations and
legacies
**3**
41,441
-
**Expenditure on:**
Charitable activities
**4**
45,870
-
**Net (expenditure)/income**
**for the year/**
**Net movement in funds**
(4,429)
-
Fund balances at 1 January
2022
16,860
155,000
**Fund balances at 31**
**December 2022**
12,431
155,000|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
41,441
15,133
-
45,870
9,968
-
(4,429)
5,165
-
171,860
11,695
155,000
167,431
16,860
155,000|**Total**
**2021**
**£**
15,133|
|---|---|---|
|||9,968|
|||5,165
166,695|
|||171,860|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 4 -
## **THE LANGDALE TRUST**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2022**_
|**Notes**
**Fixed assets**
Tangible assets
**9**
**Current assets**
Cash at bank and in hand
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
Unrestricted funds|**2022**
**£**
12,431|**£**
155,000
12,431
167,431
155,000
12,431
167,431|**2021**
**£**
16,860|**£**
155,000
16,860|
|---|---|---|---|---|
|||||171,860|
|||||155,000
16,860|
|||||171,860|
The financial statements were approved by the Trustees on .........................
|..............................|..............................|
|---|---|
|D Warrender|L Warrender|
|**Trustee**|**Trustee**|
- 5 -
## **THE LANGDALE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **Charity information**
The Langdale Trust is a unincorporated charity.
## **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 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.
- 6 -
## **THE LANGDALE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **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 0%
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.
## _**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.
## _**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.
- 7 -
## **THE LANGDALE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.9 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **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 Voluntary Income**
||**Unrestricted **|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2022**|**2021**|
||**£**|**£**|
|Voluntary income|26,861|15,133|
|Grants|14,580|-|
||41,441|15,133|
## **4 Charitable activities**
|||**2022**|**2021**|
|---|---|---|---|
|||**£**|**£**|
|Share of support costs (see note|5)|45,870|9,968|
- 8 -
## **THE LANGDALE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **5 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Animal Feed
27,849
-
Repairs & Maintenance
3,400
-
Animal Services
3,442
-
Heat & Light
75
-
Insurance
391
-
Solar System
7,070
-
Events Expense &
Website
2,363
-
Professional Fees
1,280
-
45,870
-
Analysed between
Charitable activities
45,870
-|**2022**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
**£**
27,849
3,595
-
3,400
1,782
-
3,442
528
-
75
47
-
391
778
-
7,070
-
-
2,363
1,753
-
1,280
1,485
-
45,870
9,968
-
45,870
9,968
-|**2021**
**£**
3,595
1,782
528
47
778
-
1,753
1,485|
|---|---|---|
|||9,968|
|||9,968|
## **6 Trustees**
No trustees received any remuneration during the current or previous year.
## **7 Employees**
The average monthly number of employees during the year was:
||**2022**|**2021**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
No employees received remuneration in excess of £60,000.
There were no employees whose annual remuneration was more than £60,000.
## **8 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
- 9 -
## **THE LANGDALE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**9**
**Tangible fixed assets**
**Freehold land and**
**Cost**
At 1 January 2022
At 31 December 2022
**Carrying amount**
At 31 December 2022
At 31 December 2021
Freehold relates to 5.2 acres of land in Berkswell, Solihull.|**buildings**
**£**
155,000|
|---|---|
||155,000|
||155,000|
||155,000|
|||
## **10 Capital commitments**
There were no commitments outstanding at the year end.
## **11 Related party transactions**
There was no remuneration of key management personnel and there were no related party transactions in the year.
- 10 -