REGISTERED CHARITY NUMBER: 306216
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5 April 2022
for
The Lush Trust
The Lush Trust
Contents of the Financial Statements for the Year Ended 5 April 2022
| 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 Lush Trust
Report of the Trustees for the Year Ended 5 April 2022
The trustees present their report with the financial statements of the charity for the year ended 5 April 2022. 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
Trustees
H Parfitt T Hall T Page
Approved by order of the board of trustees on 21 February 2023 and signed on its behalf by:
H Parfitt - Trustee
Page 1
Independent Examiner's Report to the Trustees of The Lush Trust
Independent examiner's report to the trustees of The Lush Trust
I report to the charity trustees on my examination of the accounts of The Lush Trust (the Trust) for the year ended 5 April 2022.
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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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
21 February 2023
Page 2
The Lush Trust
Statement of Financial Activities for the Year Ended 5 April 2022
| 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 on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
5.4.22 Unrestricted fund £ 61 70,093 70,154 32,733 4,029 1,260 38,022 4,492 36,624 3,325,749 3,362,373 |
5.4.21 Total funds £ 5 73,449 73,454 85,897 4,029 1,369 91,295 689,557 671,716 2,654,033 3,325,749 |
|---|---|---|
The notes form part of these financial statements
Page 3
The Lush Trust
Balance Sheet
5 April 2022
| 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 |
5.4.22 Unrestricted fund £ 88,872 3,114,074 3,202,946 161,837 (2,410) 159,427 3,362,373 3,362,373 3,362,373 3,362,373 |
5.4.21 Total funds £ 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 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 21 February 2023 and were signed on its behalf by:
H Parfitt - Trustee
The notes form part of these financial statements
Page 4
The Lush Trust
Notes to the Financial Statements
for the Year Ended 5 April 2022
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 |
5.4.22 £ 18 70,075 70,093 |
5.4.21 £ 44 73,405 73,449 |
|---|---|---|
continued...
Page 5
The Lush Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2022
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2022 nor for the year ended 5 April 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2022 nor for the year ended 5 April 2021.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Charitable activities To school and pupils Depreciation of tangible fixed assets General administration expenses Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 5 73,449 73,454 85,897 4,029 1,369 91,295 689,557 671,716 2,654,033 3,325,749 |
|---|---|
continued...
Page 6
The Lush Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2022
5. TANGIBLE FIXED ASSETS
| COST At 6 April 2021 and 5 April 2022 DEPRECIATION At 6 April 2021 Charge for year At 5 April 2022 NET BOOK VALUE At 5 April 2022 At 5 April 2021 6. FIXED ASSET INVESTMENTS MARKET VALUE At 6 April 2021 Revaluations At 5 April 2022 NET BOOK VALUE At 5 April 2022 At 5 April 2021 There were no investment assets outside the UK. Cost or valuation at 5 April 2022 is represented by: Valuation in 2021 Valuation in 2020 Valuation in 2022 |
Freehold property £ 201,410 108,509 4,029 112,538 88,872 92,901 Listed investments £ 3,148,656 (34,582) 3,114,074 3,114,074 3,148,656 Listed investments £ 689,954 2,458,702 (34,582) 3,114,074 |
|---|---|
continued...
Page 7
The Lush Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2022
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 70,154 TOTAL FUNDS 70,154 Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as Incoming resources £ Unrestricted funds General fund 73,454 TOTAL FUNDS 73,454 |
At 6.4.21 £ 3,325,749 3,325,749 Resources expended £ (38,022) (38,022) At 6.4.20 £ 2,654,033 2,654,033 follows: Resources expended £ (91,295) (91,295) |
5.4.22 £ 2,410 Net movement in funds £ 36,624 36,624 Gains and losses £ 4,492 4,492 Net movement in funds £ 671,716 671,716 Gains and losses £ 689,557 689,557 |
5.4.21 £ 2,411 At 5.4.22 £ 3,362,373 3,362,373 Movement in funds £ 36,624 36,624 At 5.4.21 £ 3,325,749 3,325,749 Movement in funds £ 671,716 671,716 |
|
|---|---|---|---|---|
continued...
Page 8
The Lush Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2022
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 6.4.20 £ 2,654,033 2,654,033 |
Net movement in funds £ 708,340 708,340 |
At 5.4.22 £ 3,362,373 3,362,373 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources Gains and resources expended losses £ £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 143,608 (129,317) 694,049 |
708,340 |
| TOTAL FUNDS | 143,608 (129,317) 694,049 |
708,340 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2022.
Page 9
The Lush Trust
Detailed Statement of Financial Activities for the Year Ended 5 April 2022
| Detailed Statement of Financial Activities for the Year Ended 5 April 2022 |
||
|---|---|---|
| 5.4.22 | 5.4.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | (1) | - |
| Donations | 62 | 5 |
| Investment income | 61 | 5 |
| Deposit account interest | 18 | 44 |
| Investment income | 70,075 | 73,405 |
| 70,093 | 73,449 | |
| Total incoming resources | 70,154 | 73,454 |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants to school and pupils | 32,733 | 85,897 |
| Support costs | ||
| Finance | ||
| IT expenses | 136 | 100 |
| Bank charges | 104 | 69 |
| Other 3 | 240 | 169 |
| Depreciation of tangible fixed assets | 4,029 | 4,029 |
| Governance costs | ||
| Accountancy and legal fees | 1,020 | 1,200 |
| Total resources expended | 38,022 | 91,295 |
| Net income/(expenditure) before gains and | ||
| losses | 32,132 | (17,841) |
| Realised recognised gains and losses | ||
| Unrealised (losses)/ gains on the investments | 4,492 | 689,557 |
| Net income | 36,624 | 671,716 |
This page does not form part of the statutory financial statements
Page 10