## The Lindsay-Fynn Trust
## Report of the Trustees for the Year Ended 31[st] December 2023
The Trustees present their report for the 2023 year. On 2[nd] May 1966 Sir Basil Lindsay-Fynn founded and endowed a Charitable Trust. This Trust was set up by an irrevocable Deed of Appointment by Nigel Lindsay-Fynn and others on 4[th] January 1977. On 12[th] August 1987 the Trustees of the Basil Lindsay-Fynn Charitable Trust resolved to transfer their remaining assets to this Trust and wind up. At the same time the Trust adopted its current name, the Lindsay-Fynn Trust.
The current Trustees are Nigel Lindsay-Fynn, Piers Lindsay-Fynn, Miranda Lindsay-Fynn and Stephen Glover.
The Trust was set up to support the charities connected with or that have appealed to the Lindsay-Fynn family for support. The majority of the charities supported are active in the county of Devon, but otherwise it is not restricted to any geographic area or country. Among its recent supported charities are Exeter Cathedral, the Devon County Agricultural Association, the London Business School and the St Catherine’s Cultural Centre, Kinsale, Ireland.
## FINANCIAL REVIEW
During 2023, income from donations received and charitable activities increased substantially to £22,471 (2022 £2,897). In particular donations of £11,000 were received in support of the Trust’s donation to the London Business School to contribute towards the award of the prize presented to the winner of the “Clean Tech Challenge” sponsored by the London Business School. Likewise charitable donations increased to £27,710 (2022 £9,993). However, investment income declined to £7,337 (2022 £19,005) due to the timing of the receipt of dividends.
In generally buoyant stock markets, the investment assets increased in value by £53,694 to £787,284. These markets had generally declined in 2022, leading to a reduction in the value of the investments by £174,231 in that year. Including the net movement in funds, the Trust retained a surplus in 2023 of £55,117 (2022 decline of £163,459). At 31[st] December 2023, the fund balance of listed investments and cash amounted to £831,036.
The Trust continues its fundraising activities, particularly from its opening to garden societies of the gardens at Lee Ford. The most significant donation during the year was to the London Business School of £12,500.
## GOVERNANCE AND RISKS
The Trust has no employees and pays no remuneration or reimbursement of expenses to its Trustees. The selection and size of the charitable donations are entirely decided by the Trustees, one of them acting as professional investment manager overseeing the investments held by the Trust. The principal source of income for the Trust remains donations from the Lindsay-Fynn family and their charitable activities, enabling the Trustees to feel confident of the future financial stability of the Trust. The active involvement of the Trustees ensures that any future financial risk can be kept to an absolute minimum.
## The Lindsay-Fynn Trust
Accounts for the Year Ended 31st December 2023
REGISTERED CHARITY NUMBER 272846
## TRUSTEES AND PRINCIPAL OFFICE
N Lindsay-Fynn Esq Lee Ford P Lindsay-Fynn Esq Budleigh Salterton S R Glover Esq Devon
## CONTENTS
Trustees Report
Statement of Financial Activities
Balance Sheet
Notes to the Accounts
Donations
## The Lindsay-Fynn Trust
Report and Accounts for the Year Ended 31st December 2023
## STATEMENT OF FINANCIAL ACTIVITIES
|||Dec-23||Dec-22||
|---|---|---|---|---|---|
|Note||£|£|£|£|
|**Incoming Resources**||||||
|Donations||22,471||2,897||
|Investment Income|4|7,337||19,005||
|**Total Incoming Resources**|||29,808||21,902|
|**Resources Expended**||||||
|Charitable Expenditure:||||||
|Charitable Donations Paid||27,710||9,993||
|Fund Managers Fees||674||1,137||
||||28,384||11,130|
|**Net Incoming/ (Outgoing) Resources**|||1,423||10,772|
|**Other Recognised Gains and Losses**||||||
|Realised profit/loss||||||
|on sale of investements|5||0||0|
|Unrealised loss/profit||||||
|on investment assets|5||53,694||-174,231|
|**Net Movement in Funds**|||55,117||-163,459|
|Fund balances b/fwd at 1st January 2023|||£775,919||£939,378|
||||£831,036||£775,919|
All funds are unrestricted funds.
The net incoming/outgoing resources and resulting net movement in funds arise from continuing operations.
The Trust has no recognised gains or losses other than the net movements in funds for the period ended 31st December 2023
The accompanying accounting policies and notes form an integral part of these accounts.
## The Lindsay-Fynn Trust
Report and Accounts for the Year Ended 31st December 2023
## BALANCE SHEET AS AT 31st December 2023
|||Dec-23||Dec-22||
|---|---|---|---|---|---|
|Note||£|£|£|£|
|**Fixed Assets**||||||
|Investments at Market Value|5||787,284||733,590|
|**Current Assets**||||||
|Debtors||||9,737||
|Cash at Bank||43,752||32,592||
|||43,752||42,329||
|**Current Liabilities**||||||
|amounts falling due within one year||0||0||
|**Net Current Assets**|||43,752||42,329|
|**Net Assets**|||£831,036||£775,919|
|**Funds**||||||
|Unrestricted general funds|||£831,036||£775,919|
||||£831,036||£775,919|
Signed on behalf of the Trustee's on the …………………………………………..
………………………………………………………….
by Nigel Lindsay-Fynn
## The Lindsay-Fynn Trust
Report and Accounts for the Year Ended 31st December 2023
## NOTES TO THE ACCOUNTS
1 PRINCIPLE ACCOUNTING POLICIES
- A Accounting Convention
- These Accounts have been prepared under the historical cost convention as modified by the inclusion of investments at market value. In preparing the Accounts the Charity follows best practise as laid down in the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2005 ) issued in March 2005.
- B Investment Income Investment Income is accounted for in the period in which the Charity is entitled to its receipt.
## C Resources Expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. All charitable donations are approved by the Trustees in the year in which they are accounted for and do not form part of a grant.
- D Funds
Capital Funds represent funds settled or transferred to the trust as amended by realised and unrealised gains and losses. Income Funds represent the balance of undistrubuted income from prior and current years. However, in accordance with the Trust Deed, both Capital and Income Funds are available for distribution.
## 2 STAFF INFORMATION
The Charity had no employees during the year.
The Trustees received no remuneration nor reimbursement of expenses during the year.
- 3 INDEMNITY ISURANCE
The Charity does not hold indemnity insurance for its Trustees.
## The Lindsay-Fynn Trust
Report and Accounts for the Year Ended 31st December 2023
## NOTES TO THE ACCOUNTS Contd
4 INVESTMENT INCOME
|||Dec-23|Dec-22|
|---|---|---|---|
|||£|£|
||Dividend Receipts|7,260|19,001|
||Interest on cash deposits|77|4|
|||7,337|19,005|
|5|INVESTMENTS|||
|||Dec-23|Dec-22|
|||£|£|
||Market value at 1st January 2023|733,590|907,821|
||Decrease/Increase in investment values|53,694|-174,231|
||Disposal|||
||Purchased|0|0|
||Market value at 31st December 2023|£787,284|£733,590|
||Investments at market value comprised:|||
||UK unit trusts|672,694|623,778|
||UK equities|0|0|
||Fixed Interest|114,590|109,812|
|||£787,284|£733,590|
||Historical cost as at 31st December 2022/2021|£731,480|£731,480|
## The Lindsay-Fynn Trust
Report and Accounts for the Year Ended 31st December 2023
## NOTES TO THE ACCOUNTS Contd
## 6 CAPITAL FUNDS
|Balance
at 1/1/23
£
Settled Funds per Deed of
Settlement 4th January 1977
100
Trust Fund transferred from the
Lindsay-Fynn Charitable Trust
73,595
Profit/Loss on sale of investmen
85,892
Excess of Market Value over costs
of Investments
2,110
£161,697|Balance
at 1/1/23
£
Settled Funds per Deed of
Settlement 4th January 1977
100
Trust Fund transferred from the
Lindsay-Fynn Charitable Trust
73,595
Profit/Loss on sale of investmen
85,892
Excess of Market Value over costs
of Investments
2,110
£161,697|Movements
during year
£
53,694|Balance
at 31/12/23
£
100
73,595
85,892
55,804|
|---|---|---|---|
||£161,697|£53,694|£215,391|
7 INCOME BALANCES
|Undistributed Income at 1st January 2023
Net Surplus for the year
Undistributed Income at 31st December 2023||Dec-23
£
625,408
1,423|Dec-22
£
614,636
10,772|
|---|---|---|---|
|||£626,831|£625,408|
For Trustees use only
## The Lindsay-Fynn Trust
Report and Accounts for the Year Ended 31st December 2023
## DONATIONS MADE
|Total
£
Devon High Sherriff Charity
Devon County Agricultural Association
National Gardens Scheme
British Red Cross London Fire Relief Fund
London Business School
Lions Club, Budleigh Salterton
Painters Company Charity
Grand Masters Lodge No. 1 Relief Chest
St Catherines Cultural Centre Kinsale
Worshipful Company of Gardeners Charity
League of Friends of B. Salterton Hospital
St Peters PCC
Dean & Chpater Exeter Cathedral
RNLI
Paynter-Stainers Lodge Benelovent Fund
Friends of the Royal Academy
Budleigh Community Youth
David Nott Foundation
Royal Yatch Squadron IOW Foundation
St Peters School Association, Budleigh salterton
Dec Ukrainine Hum Appeal
The Benevolent Society of St Patrick
Freemasons Grand Charity
Budleigh Salterton Arts Centre Fairlynch Museum
Royal Marines Charity
Dani Loewenstein
BEAT
Cure Parkinsons Trust
Devon Young farmers
Exeter Leukaemia Trust
Royal Opera House
Hospiscare
Landworks
St Petrock's
Ocean Youth Trust
Friends of Exeter Cathedral
Devon Historic Churches Trust
Federation of British Artists
Addington Fund
Calvert Trust
Dame Hannah Rogers
Faceup Cymru
Grand Stewards Lodge
Royal Agricultural Benevolent Institution
Oriel College Boat Club
St Patricks Catherdral Dublin
Send a cow
Age Concern
Exeter Royal Academy for Deaf
Cornucopia Chapter Rose Croix No 777
BUDFAS
Chicks
Devon Community Foundation
Devon Royal British Legion
Island Trust
MacMillan Cancer Support
Red Squirrel South West Projects
The Stroke Association
Tower of London Club
Turning Point
British Red Cross London Fire Relief Fund
Mall Galleries
Childrens Hospice SW
High Sheriff of Gloucestershire Fund
Holy Cross Church
John Muir Trust
Lord Mayor's Charity Fund
Sussex Masonic Charities
Wiltshire Community Foundation
Friends of Exe
Roy Foster Cancer Research
Jeremiah's Journey
Wadsworth Pavilion
Budleigh Music Festival
Suth West Community Chaplaincy
Grand Master's Lodge No. 1
Benevolent Fund
Grand Master's Lodge No. 1
Masonic Charities Association|2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
£
£
£
£
£
£
£
£
£
11906
4229
7677
5600
500
500
500
500
500
1600
500
500
500
5050
500
250
500
800
1000
500
500
500
500
5000
5000
30000
25000
1000
1000
1000
1000
1000
4400
600
500
500
500
500
500
500
400
400
3600
800
400
400
400
400
300
300
300
300
2900
800
400
400
400
300
300
300
2588
2588
2300
500
250
250
250
250
200
200
200
200
2650
500
250
200
200
200
700
200
400
2000
2000
2000
1000
1000
1915
200
1465
250
1700
400
200
200
200
200
200
100
100
100
1166
135
135
131
131
128
125
97
97
97
90
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
900
200
100
100
100
100
100
100
100
800
400
400
750
250
500
700
500
150
50
619
619
500
500
500
250
250
500
500
500
500
500
500
475
200
125
50
100
472
250
222
450
250
200
400
100
50
50
50
50
50
50
385
385
325
25
75
125
25
25
25
25
300
200
100
290
50
42
42
42
38
38
38
250
250
250
250
250
250
250
250
250
250
250
250
200
200
200
200
200
200
150
50
100
150
50
100
120
20
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
50
50
100
100
100
100
100
100
100
50
50
150
50
50
50
100
100
50
50
50
50
50
50
50
50
50
50
50
50
75
25
25
25
25
25
20
20
10
10
400
400
500
500|
|---|---|
||£104,441
£27,710
£9,993
£4,525
£3,106
£6,145
£10,676
£21,313
£11,160
£5,560
£4,253|
## **Independent examiner's report on the accounts**
## **Section A Independent Examiner’s Report**
**Report to the trustees/ members of**
Charity Name The Lindsay-Fynn Trust
**On accounts for the year ended**
31[st] December 2023
**Charity no (if any)**
272846
## **Set out on pages**
One to Seven
(remember to include the page numbers of additional sheets)
## **Responsibilities and basis of report**
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/12/2023.
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect:
- accounting records were not kept in accordance with section 130 of the Act or
- the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. * _Please delete the words in the brackets if they do not apply._
**Signed:**
**Date: Name:**
**Relevant professional qualification(s) or body (if any):**
1
**October 2018**
**IER**
**Address:**
## **Section B Disclosure**
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
**Give here brief details of any items that the examiner wishes to disclose** .
2
**October 2018**
**IER**