Lindale Educational Foundation
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
30 September 2020
Charity Registration No. 282758
Lindale Educational Foundation
FINANCIAL STATEMENTS for the year ended 30 September 2020
| INDEX | ||
|---|---|---|
| Pages | ||
| Officers and Advisors | 1 | |
| Trustees’ Report | 2 | |
| Trustees’ Responsibilities | 4 | |
| Independent Examiner’s Report | 5 | |
| Statement of Financial Activities | 6 | |
| Balance Sheet | 7 | |
| Statement of Cash Flows | 8 | |
| Notes to the Financial Statements | 9 |
Lindale Educational Foundation
OFFICERS AND ADVISORS Page 1
ADDRESS: 1 Leopold Road London W5 3PB
TRUSTEES
Netherhall Educational Association Greygarth Association Dawliffe Hall Educational Foundation
INDEPENDENT EXAMINER Sheila Parry FCCA SPX Oxford Ltd 19 Paradise St Oxford OX1 1LD
BANKERS Natwest plc Kensington Royal Garden 55 Kensington High Street Kensington London W8 5EQ
TRUSTEES’ REPORT Page 2
Lindale Educational Foundation
The trustees submit their report and the financial statements of Lindale Educational Foundation for the year ended 30 September 2020.
THE CHARITY’S PRINCIPAL OBJECTS
The Charity’s principal objects are for the promotion of the Roman Catholic religion and the advancement of education, and in furtherance of the foregoing:
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1 To train priests.
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2 To assist in the establishment, extension, improvement and maintenance of churches and chapels oratories and other places of worship.
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3 To assist in the establishment, extension, improvement and maintenance of university halls or halls of residence for the reception of bona fide students of all nations.
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4 To arrange and conduct courses camps, study centres, meetings, conferences and seminars.
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5 To assist by the provision of grants, scholarships, loans or donations the pursuit of education or research by individuals or groups of students.
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6 To assist by the provision of grants, scholarships loans, or donations such persons or companies (whether or not in the UK) and in such cases as shall further the object of the Foundation.
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7 To assist in the establishment, extension, improvement and maintenance of any charitable centres for the time being of Netherhall Educational Association, Greygarth Association and Dawliffe Hall Educational Foundation Limited, notwithstanding that such companies may be the trustees of the Foundation.
ORGANISATION
The day to day organisation is looked after principally by one of the corporate trustees whose representatives monitor the running of the Charity in accordance with the agreed aims and need of any particular year. The annual accounts, reports and policy are agreed by the Trustees. The work is carried out entirely on a voluntary basis and no salaries are paid.
RESERVES POLICY
The Charity owns no property and its assets are only the bank balance, and it has no further reserves. It allocates the income received from donors to support different ventures in keeping with its principal objects, the amount depending on the level of donations obtained in any one year. Each year the income received is expended in furthering the Charity’s objectives and it has no further investments. It has no specific forward commitments or contractual requirements to fulfil financial obligations, and as such there are no risks involved. The Charity does not expend more than it has available, and thus does not go into deficit.
RISK MANAGEMENT
The trustees have examined the major strategic and operational risks which the Charity faces and confirm that systems are in place to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
CURRENT YEAR
Donations received during the year amounted to £58,200 compared with £50,744 in the previous year. Due to Covid-19 restrictions there were fewer opportunities to fund the activities which the Charity usually supports. Assistance was concentrated on grants totalling £28,496 for Thornycroft Hall, a centre for retreats and study activities run by the charitable Siddington Trust Limited; a small grant of £538 was also made to Hazelwood House, Dawliffe Hall Educational Foundation’s retreat and educational centre in Glasgow.
Lindale Educational Foundation
TRUSTEES’ REPORT Page 3
PUBLIC BENEFIT
The Trustees confirm that in accordance with section 4 of the Charities Act 2006 they have due regard to public benefit guidance published by the Charity Commission. They confirm that the activities of the Charity are for the benefit of the public in general. The level of donations in any one year dictates the possibilities for grant-aid.
GOING CONCERN
The trustees consider that there are no material uncertainties as to the Charity’s ability to continue as a going concern.
TRUSTEES’ RESPONSIBILTIES Page 4
Lindale Educational Foundation
The trustees acknowledge that it is their responsibility to prepare statements of account for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources for that period. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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Prepare the financial statements in accordance with the methods and principles set out in the Statement of Recommended Practice Accounting and Reporting by Charities and to state whether or not the accounts have been prepared in accordance with that statement and applicable accounting standards.
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Prepare financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation,
The Trustees are responsible for keeping proper accounting records which are sufficient to show and explain the charity’s transactions and to disclose with reasonable accuracy at any time the financial position of the Foundation, and to enable them to ensure that any statements of account comply with the requirements of the Charity Act 2011. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees believe the Financial Statements for the year ended 30 September 2020 have been prepared in accordance with the above responsibilities.
Signed on behalf of the Trustees:
X Bosch
26 June 2021
EXAMINER’S REPORT TO THE TRUSTEES Page 5
Lindale Educational Foundation
We report on the accounts of the Trust for the year ended 30 September 2020, which are set out on pages 5 to 9.
Respective responsibilities of trustees and examiner
As set out on page 3, as the charity’s trustees you are responsible for the preparation of the financial statements.
The charity’s trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.
It is our responsibility to
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures specified in the General Directions given by the Charity Commission under
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section 145(5)(b) of the 2011Act;
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and to state whether particular matters have come to our attention.
Basis of independent examiner’s report
Our examination was carried out in accordance with the General Direction given by the Charity Commissioners.
An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with these records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the next statement.
Independent examiner’s statement
In connection with our examination, no matter has come to our attention:
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(1) which gives us reasonable cause to believe that in any material respect the requirements,
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to keep accounting records in accordance with section 130 of the Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act.
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have not been met; or
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(2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Sheila Parry
Sheila Parry FCCA SPX Oxford Ltd 19 Paradise St Oxford OX1 1LD
DATE: 26 July 2021
Lindale Educational Foundation STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 30 September 2020 Page 6
| Note INCOME Donations 2 TOTAL INCOME EXPENDITURE 2 Charitable Other TOTAL EXPENDITURE 3 NET INCOME Fund balance brought forward at 1 September 2019 FUND BALANCE CARRIED FORWARD AT 30 September 2020 |
Unrestricted Fund £ Restricted Fund £ Total 2020 £ Total 2019 £ 58,200 - 58,200 50,744 - - - - |
|---|---|
| 58,200 - 58,200 50,744 |
|
| 29,374 - 29,374 46,085 - - - 1,220 |
|
| 29,374 - 29,374 47,285 |
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| 28,826 - 28,826 3,439 22,387 - 22,387 18,948 |
|
| 51,213 - 51,213 22,387 |
Lindale Educational Foundation BALANCE SHEET
for the year ended 30 September 2020 Page 7
| Notes CURRENT ASSETS Debtors 4 Cash at bank and in hand CURRENT LIABILITIES Other creditors 5 NET ASSETS ACCUMULATED FUND INCOME FUND Unrestricted funds |
2020 £ 10,815 41,238 52,053 (840) 51,213 51,213 51,213 |
2019 £ 9,549 13,338 22,887 (500) 22,387 22,387 22,387 |
|---|---|---|
Approved by the Trustees on 26 June 2021
X Bosch
____ Trustee
Lindale Educational Foundation STATEMENT OF CASH FLOW
for the year ended 30 September 2020 Page 8
| CASH FLOWS FROM OPERATING ACTIVITIES NET INCOME/(EXPENDITURE) Changes in Trade and other debtors Trade and other creditors Cash generated from operations Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of year Cash and cash equivalents at the end of year |
2020 £ 28,826 (1,266) 340 27,900 27,900 13,338 41,238 |
2019 £ 3,439 (119) 500 |
|---|---|---|
| 3,820 | ||
| 3,820 9,518 |
||
| 13,338 |
NOTES TO THE ACCOUNTS for the year ended 30 September 2020 Page 9
Lindale Educational Foundation
1 STATEMENT OF COMPLIANCE
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 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
2 ACCOUNTING POLICIES
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2015) and applicable accounting standards. The following accounting policies have been used consistently in dealing with items which are considered material in relation to the financial statements.
INCOME
General donations are brought into account when received and are grossed up to include the tax recoverable.
EXPENDITURE
Expenditure is classified under the principal categories of charitable and other expenditure rather than the type of expenses in order to produce more useful information to users of the Financial Statements.
UNRESTRICTED FUNDS
These funds are available for projects of the charity, to be spent at the discretion of the trustees
RESTRICTED FUNDS
Restricted funds are monies available for specific projects being carried out by the charity and are subject to specific conditions laid down by the donors as to how they may be used. Any shortfall in restricted funds will be met from the general fund.
3 EXPENDITURE
| Grants Independent Examiner’s fee Independent Examiner’s fee previous year Total 4 DEBTORS |
2020 £ 29,034 420 (80) 29,374 |
2019 £ 46,085 500 720 |
|---|---|---|
| 47,305 | ||
| HM Revenue and Customs | 2019 £ 10,815 10,815 |
2019 £ 9,530 |
|---|---|---|
| 9,530 |
Lindale Educational Foundation
NOTES TO THE ACCOUNTS (continued) for the year ended 30 September 2020 Page 10
5 LIABILITIES
| 5 LIABILITIES | ||
|---|---|---|
| Independent Examiner’s Fee Independent Examiner’s Fee (previous year) |
2020 £ 420 420 840 |
2019 £ 500 - |
| 500 |
6 PREVIOUS YEAR COMPARATIVE STATEMENT OF FINANCIAL POSITION
| Note INCOME Donations 2 TOTAL INCOME EXPENDITURE 2 Charitable Other TOTAL EXPENDITURE 3 NET INCOME Fund balance brought forward at 1 September 2018 FUND BALANCE CARRIED FORWARD AT 30 September 2019 |
Unrestricted Fund £ Restricted Fund £ Total 2019 £ 50,744 - 50,744 - - - |
|---|---|
| 50,744 - 50,744 |
|
| 46,085 - 46,085 - 1,220 - - 1,220 |
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| 47,305 - 47,305 |
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| 3,439 - 3,439 18,948 - 18,948 |
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| 22,387 - 22,387 |