REGISTERED CHARITY NUMBER: 306216
Report of the Trustees and Unaudited Financial Statements for the Year Ended 5 April 2021
for The Lushtrust
Adrian Thompson & Co 18-20 High Street Shaftesbury Dorset SP7 8JG
The Lushtrust
Contents of the Financial Statements for the Year Ended 5 April 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
The Lushtrust
Report of the Trustees
for the Year Ended 5 April 2021
The trustees present their report with the financial statements of the charity for the year ended 5 April 2021. The trustees have adopted the provisions of 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
306216
Principal address
Amberley Christys Lane Shaftesbury Dorset SP7 8NQ
Trustees
H J Parfitt T A Hall T A C Page
Independent Examiner
Adrian Thompson & Co 18-20 High Street Shaftesbury Dorset SP7 8JG
Approved by order of the board of trustees on 4 February 2022 and signed on its behalf by:
H J Parfitt - Trustee
Page 1
Independent Examiner's Report to the Trustees of The Lushtrust
Independent examiner's report to the trustees of The Lushtrust
I report to the charity trustees on my examination of the accounts of The Lushtrust (the Trust) for the year ended 5 April 2021.
Responsibilities and basis of report
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 Act and in carrying out my examination I have followed all 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 in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts 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 accounts to be reached.
A D N Thompson Adrian Thompson & Co 18-20 High Street Shaftesbury Dorset SP7 8JG
4 February 2022
Page 2
The Lushtrust
Statement of Financial Activities for the Year Ended 5 April 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Charitable activities To school and pupils Depreciation of tangible fixed assets General administration expenses Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
5.4.21 Unrestricted fund £ 5 73,449 73,454 90,095 - 1,200 91,295 689,557 671,716 2,654,033 3,325,749 |
5.4.20 Total funds £ - 62,402 62,402 71,300 4,030 1,760 77,090 (168,982) (183,670) 2,837,703 2,654,033 |
|---|---|---|
The notes form part of these financial statements
Page 3
The Lushtrust
Balance Sheet
| 5 April 2021 Notes FIXED ASSETS Tangible assets 5 Investments 6 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds TOTAL FUNDS |
5.4.21 Unrestricted fund £ 92,901 3,148,656 3,241,557 86,603 (2,411) 84,192 3,325,749 3,325,749 3,325,749 3,325,749 |
5.4.20 Total funds £ 96,930 2,458,702 2,555,632 99,612 (1,211) 98,401 2,654,033 2,654,033 2,654,033 2,654,033 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 4 February 2022 and were signed on its behalf by:
H J Parfitt - Trustee
The notes form part of these financial statements
Page 4
The Lushtrust
Notes to the Financial Statements for the Year Ended 5 April 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| Deposit account interest Investment income |
5.4.21 £ 44 73,405 73,449 |
5.4.20 £ 139 62,263 |
|---|---|---|
| 62,402 |
Page 5
continued...
The Lushtrust
Notes to the Financial Statements - continued for the Year Ended 5 April 2021
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2021 nor for the year ended 5 April 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2021 nor for the year ended 5 April 2020.
4.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Charitable activities To school and pupils Depreciation of tangible fixed assets General administration expenses Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 5. TANGIBLE FIXED ASSETS COST At 6 April 2020 and 5 April 2021 DEPRECIATION At 6 April 2020 Charge for year At 5 April 2021 NET BOOK VALUE At 5 April 2021 At 5 April 2020 |
Unrestricted fund £ 62,402 71,300 4,030 1,760 77,090 (168,982) (183,670) 2,837,703 2,654,033 Freehold property £ 201,410 104,480 4,029 108,509 92,901 96,930 |
|
|---|---|---|
Page 6
continued...
The Lushtrust
Notes to the Financial Statements - continued for the Year Ended 5 April 2021
6. FIXED ASSET INVESTMENTS
| MARKET VALUE At 6 April 2020 Revaluations At 5 April 2021 NET BOOK VALUE At 5 April 2021 At 5 April 2020 There were no investment assets outside the UK. |
Listed investments £ 2,458,702 689,954 3,148,656 3,148,656 2,458,702 |
|---|---|
| 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 8. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 73,454 TOTAL FUNDS 73,454 |
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 8. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 73,454 TOTAL FUNDS 73,454 |
At 6.4.20 £ 2,654,033 2,654,033 Resources expended £ (91,295) (91,295) |
5.4.21 £ 2,411 Net movement in funds £ 671,716 671,716 Gains and losses £ 689,557 689,557 |
5.4.20 £ 1,211 At 5.4.21 £ 3,325,749 3,325,749 Movement in funds £ 671,716 671,716 |
||
|---|---|---|---|---|---|---|
continued...
Page 7
The Lushtrust
Notes to the Financial Statements - continued for the Year Ended 5 April 2021
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are Incoming resources £ Unrestricted funds General fund 62,402 TOTAL FUNDS 62,402 |
At 6.4.19 £ 2,837,703 2,837,703 as follows: Resources expended £ (77,090) (77,090) |
Net movement in funds £ (183,670) (183,670) Gains and losses £ (168,982) (168,982) |
At 5.4.20 £ 2,654,033 2,654,033 |
||
|---|---|---|---|---|---|
| Movement in funds £ (183,670) (183,670) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 6.4.19 £ 2,837,703 2,837,703 |
Net movement in funds £ 488,046 488,046 |
At 5.4.21 £ 3,325,749 3,325,749 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 135,856 135,856 |
Resources expended £ (168,385) (168,385) |
Gains and losses £ 520,575 520,575 |
Movement in funds £ 488,046 488,046 |
|---|---|---|---|---|
continued...
Page 8
The Lushtrust
Notes to the Financial Statements - continued for the Year Ended 5 April 2021
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2021.
Page 9
The Lushtrust
Detailed Statement of Financial Activities for the Year Ended 5 April 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Deposit account interest Investment income Total incoming resources EXPENDITURE Charitable activities Grants to school and pupils Support costs Finance Repairs IT expenses Bank charges Other 3 Depreciation of tangible fixed assets Governance costs Accountancy and legal fees Total resources expended Net expenditure before gains and losses Realised recognised gains and losses Unrealised (losses)/ gains on the investments Net income/(expenditure) |
5.4.21 £ 5 44 73,405 73,449 73,454 85,897 - 100 69 169 4,029 1,200 91,295 (17,841) 689,557 671,716 |
5.4.20 £ - 139 62,263 62,402 62,402 71,300 480 260 60 800 4,030 960 77,090 (14,688) (168,982) (183,670) |
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This page does not form part of the statutory financial statements
Page 10