The Lindsay-Fynn Trust Report of the Trustees for the Year Ended 31" December 2024 The Trustees present their Teport for the 2024 year. On 2, May 1966 Sir Basil Lindsay-FyDn 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 January 1977. On 12, August 1987 the Trustees of the Basil Lindsay-Fynn Charitable Trust re501ved 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 Truslees ate 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 Lind5ay-Fynn family for support. The majority of the charities SllPPOrted are active in the county of Devon, but otherwise it is not restricted to any geographic area or country. Among its recent supported charities aTe Exeter Cathedral, the Devon County AgricultUTal Association, the London Business School and the St Caiherine's Cultural Centre, Kinsale. Ireland. FINANCIAL REVIEW During 2024, income from donations re¢cived and charitable activities reduced to £1 1,000 (2023 £22,471). The donations totalling £1 1,000 were received in support of the Trust's donation to the London Business School to contTibute towards the award of the prize presented to the winner of the 'Clean Tech Challenge" sponsored by the London Business School. Likewise charitable donations decreased to £18.718. (2023 £27,710). However, investment income increased to £20,223 (2023 £7,337) due to the timing of the receipt of dividends. In generally buoyant stock markets, the investment assets increased in value by £82,550 to £869,834. Including the net movement in funds, the Trust retained a surplus in 2024 of £94,327 (2023 £55,117). At 31, December 2024, the fund balance of listed investments and cash amounted to £925,363. 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 charilable donations are entirely decided by the Tnjstees, one of them acling as professional investmenl 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 rinancial risk can be kept to an absolute minimum.
The Lindsay-Fynn Trust Accounts for the Year Ended 31 st December 2024 REGISTERED CHARITY NUMBER 272846 TRUSTEES AND PIUNCIPAL OFFICE N Lindsay-Fynn Esq P Lindsay-Fynn Esq M Lindsay-Fynn Miss S R Glover Esq Lee Ford Budleigh Salterton Devon CONTENTS Report of the Trustees ststement of Financial Activities Balance Sheet Notes to the Accounts Donations
The Lindsay-Fynn Trust Report of the Trustees for the Year Ended 31 st December 2024 The Trustees present their report for the 2024 year. On 2. 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 January 1977. On 12 August 1987 the Truslees 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 5UPPOrt the charities connected wilh or that have appealed to the Lindsay-Fynn family for support. The majority of the eharities supported are active in the county of Devon, but otherwise it is not restricted to any geographic ar¢a or country. Among its recent supported charities are Exeter Cathedral, the Devon County A8ricultUTal Association, the London Business School and the St Catherine's Cultural Centre, Kinsale, Ireland. FtNANCIAL REVIEW During 2024, income from donations received and charitable activities reduced to £1 1,000 (2023 £22,471). 'fhe donations totalling £1 1,000 were received in support of ihe 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 decreased io £18,718, (2023 £27,710). However, investment income increased to £20,223 (2023 £7,337) due to the timing of the receipt of dividends. In generally buoyant stock markets, the investment assels increased in value by £82,550 to £869,834. Including the net movement in fLd5, the Trust retained a surplus in 2024 of £94,327 (2023 £55,117). At 31, December 2024, the fiind balance of listed investments and cash amounted to £925,363. The Trust continues its ndraISing 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 reimbursernent of expenses to its Trustees. The selection and size of the charitable donations are entirely decided by the Trustee5, one of them acting a5 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 kepi to an absolute Tninimum.
The Lindsay-Fynn Trust Accounts for the Year Ended 31 st December 2024 STATEMENT OF FINANCIAL ACTIVITIES Dec-24 Dec-23 Note Incoming Resources Donations Investment Income Total Incoming Resources Rcsourees Expended Charitable Expenditure.. Charitable Donations Paid Fund Managers Fees 11,000 20,223 22.471 7,337 31.223 29,808 18,718 729 27.710 674 19,447 11,776 28,384 1,423 Net In¢oming/ (Outgoing) Resour¢e5 Other Recogniscd Gains and Lossc5 Realised profitlloss on sale of investements Unrealised losslprofit on investment assets Net Movement in Fund5 82,550 94.327 53,694 55,I17 Fund balances blfwd at 1st January 2024 £831,036 £775.919 £925,363 £831,036 All funds are unrestricted funds. The net incomingloutgoing resources and resulting net movement in funds arise from continuing operations. The Trust has no recognised gains or losses other than the net movemetAIs in lunds for the period ended 3 1st December 2024 The accompanying accounting policies and notes form an integral part of these accounts.
The Lindsay-Fynn Trust Accounts for the Year Ended 31 st December 2024 BALANCE SHEET AS AT 3 1st December 2024 Dec-24 Dec-23 Note Fixed A55et5 Investments at Market Value 869,834 787.284 Current Asset$ Debtors Cash at Bank 55.529 55.529 43.752 43.752 Current Liabilitics amounts falling due within one year N¢¢ Current Asscts 55.S29 43.752 Net Assets £925,363 £831.036 Funds Unresiricted general funds £925.36] £831.036 £925.363 £831.036 Signed on be f the Trustee's on the by Nigel Lindsay-Fynn
The Lindsay-Fynn Trust Accounts for the Year Ended 3 1st December 2024 NOTES TO THE ACCOUNTS I PRINCIPLE ACCOUNTING POLICIES Accounting Convention These Accounts l)ave b¢en prepared under the historical cost Convention as modified by Ihc inclusion of investments at market value. In preparing the A¢counts the Charity follows best practise as laid down in the Statemeiit of Rccommcnded Practice "Accounting and Reporting by Charities" (SORP 2005) issued in March 2005. Investment Income Investment Incoine is accounted for in the period in which the Charity is entitled to its receipt. Resources Expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo that category. All charitable donations are approved by the Trustees in the year in which tl)ey are accounted for and do not form part of a grant. Funds Capital Fund5 represent funds settled or transferred to the trust as atnended by realised and unrealised gains and losses. Income Fund5 represent tlic balanc¢ of undistrubuted income fro prior and eurrent years. However. in accordance with tlie Trust Deed, knth Capital and Income Funds are available for distribution. STAFF INFORMATION The Charity had no cmployees during the year. The Trustees received no remuneration nor reimbursement of expenses during the year. tNDEMNITY ISURANCE The Charity does not hold indetnnity insurance for its Trustees.
The Lindsay-Fynn Trust Accounts for the Year Ended 31 st December 2024 NOTES TO THE ACCOUNTS Contd INVESTMENT fNCOME Dec-24 Dec-23 Dividend Receipts Interest on cash deposits 19,984 239 £20.223 7,260 77 £7,337 INVESTMENTS Dec-24 Dec-23 Market value at I st January 2024 Decrease/lncrease in investment values Disposal Purchased 787,284 82,550 733,590 53,694 Market value at 3 1st Decernber 2024 £869.834 £787.284 Investments at market valu¢ comprised.. UK unit trusts UK equities Fixed Interest 755.359 672,694 114,475 114.590 £869,834 £787,284 Historical cost as at 3 Ist December 20221202 £73 I,480 £731,480
The Lindsay-Fynn Trust Accounts for the Year Ended 3 1st December 2024 NOTES TO THE ACCOUNTS Contd 6 CAPITAL FUNDS Balance Movernents Balance at 111124 durin ear at 31112124 Settled Funds per Deed of Settlement 4th January 1977 loo loo Trust Fund transferred from the Lindsay-Fynn Charitable Trust 73,595 73.595 Profit/Loss on sale of investmen 85,892 85,892 Excess of Market Value over costs of Investments 55,804 £215.391 82.550 £82,550 138,354 £297,941 INCOME BALANCES Dec-24 Dec-23 Undistributed Income at 1st January 2024 Net Surplus for the year 626,831 11.776 625,408 1,423 Undistributed Income at 31 st December 2024 £638.608 £626,831
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts . Section A .. Independent Examlner's Report Report to the trustgesl members of The Lindsay-Fynn Trust On accounts for the year ended 31" December 2024 Charity no Ilf any) 272846 Set out on pages One io Seven I report lo the trustees on my examination of the accounls of the above Charity l.the Trust.) for the year ended 3111212024. Responsibillties and As the charity trustees of the Trust. you are responsible for the preparation basis of report of tha accounts" in accordance with the requirements of the Charities Act 2011 ("Ihe Act.). I report in respect of my examlnatlon of the Trusl's accounts carried out under section 145 of the 2011 Act and in Carrying out my examination, I have followed the applicable Dlrectlons given by the Charity Commlsslon under sectlon 145(5)(b} of the Act. I have completed my examination. I confirm that no material matters have come lo my attention {olher than that disclosed below ') in connection with th8 examlnatlon which gives me cause lo believe that in. any material respect.. "accountlng records were not kept in accordance wlth section 130 of the Act or the accounts do not accord with Ihe accountlng records Independent examiner's statement I have no ¢oncems and have come across no other matters in connection with the examination lo which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Pleas8 delele the words in th8 brackets If they do not apply. Signed: Date: Name: l¥ts Relevant professlonal qualificatlon(sl or body {if any): Address: C*-.-L (Joa LL IER October 2018