REGISTERED CHARITY NUMBER: 306216
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5 April 2023
for
The Lush Trust
The Lush Trust
Contents of the Financial Statements for the Year Ended 5 April 2023
| 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 2023
The trustees present their report with the financial statements of the charity for the year ended 5 April 2023. 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 5 February 2024 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 2023.
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
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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
- 5 February 2024
Page 2
The Lush Trust
Statement of Financial Activities for the Year Ended 5 April 2023
| 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 |
5.4.23 Unrestricted fund £ 46 97,452 97,498 39,251 4,029 1,542 44,822 (399,427) (346,751) 3,362,373 3,015,622 |
5.4.22 Total funds £ 61 70,093 70,154 32,733 4,029 1,260 38,022 4,492 36,624 3,325,749 3,362,373 |
|---|---|---|
The notes form part of these financial statements
Page 3
The Lush Trust
Balance Sheet
5 April 2023
| 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 |
5.4.23 Unrestricted fund £ 84,843 2,755,560 2,840,403 177,629 (2,410) 175,219 3,015,622 3,015,622 3,015,622 3,015,622 |
5.4.22 Total funds £ 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 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 5 February 2024 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 2023
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 |
5.4.23 £ 1,067 96,385 97,452 |
5.4.22 £ 18 70,075 70,093 |
|---|---|---|
continued...
Page 5
The Lush Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.
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 £ 61 70,093 70,154 32,733 4,029 1,260 38,022 4,492 36,624 3,325,749 3,362,373 |
|---|---|
continued...
Page 6
The Lush Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
5. TANGIBLE FIXED ASSETS
| COST At 6 April 2022 and 5 April 2023 DEPRECIATION At 6 April 2022 Charge for year At 5 April 2023 NET BOOK VALUE At 5 April 2023 At 5 April 2022 6. FIXED ASSET INVESTMENTS MARKET VALUE At 6 April 2022 Revaluations At 5 April 2023 NET BOOK VALUE At 5 April 2023 At 5 April 2022 There were no investment assets outside the UK. Cost or valuation at 5 April 2023 is represented by: Valuation in 2021 Valuation in 2020 Valuation in 2022 Valuation in 2023 |
Freehold property £ 201,410 112,538 4,029 116,567 84,843 88,872 Listed investments £ 3,114,074 (358,514) 2,755,560 2,755,560 3,114,074 Listed investments £ 689,954 2,458,702 (34,582) (358,514) 2,755,560 |
|---|---|
continued...
Page 7
The Lush Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
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 97,498 TOTAL FUNDS 97,498 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 70,154 TOTAL FUNDS 70,154 |
At 6.4.22 £ 3,362,373 3,362,373 Resources expended £ (44,822) (44,822) At 6.4.21 £ 3,325,749 3,325,749 follows: Resources expended £ (38,022) (38,022) |
5.4.23 £ 2,410 Net movement in funds £ (346,751) (346,751) Gains and losses £ (399,427) (399,427) Net movement in funds £ 36,624 36,624 Gains and losses £ 4,492 4,492 |
5.4.22 £ 2,410 At 5.4.23 £ 3,015,622 3,015,622 Movement in funds £ (346,751) (346,751) At 5.4.22 £ 3,362,373 3,362,373 Movement in funds £ 36,624 36,624 |
|
|---|---|---|---|---|
continued...
Page 8
The Lush Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
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 6.4.21 £ 3,325,749 3,325,749 |
Net movement in funds £ (310,127) (310,127) |
At 5.4.23 £ 3,015,622 3,015,622 |
|---|---|---|---|
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 £ 167,652 167,652 |
Resources expended £ (82,844) (82,844) |
Gains and Movemen losses in funds £ £ (394,935) (310,127) (394,935) (310,127) |
|---|---|---|---|
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2023.
Page 9
The Lush Trust
Detailed Statement of Financial Activities for the Year Ended 5 April 2023
| Detailed Statement of Financial Activities for the Year Ended 5 April 2023 |
||
|---|---|---|
| 5.4.23 | 5.4.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 1 | (1) |
| Donations | 45 | 62 |
| Investment income | 46 | 61 |
| Deposit account interest | 1,067 | 18 |
| Investment income | 96,385 | 70,075 |
| 97,452 | 70,093 | |
| Total incoming resources | 97,498 | 70,154 |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants to school and pupils | 39,251 | 32,733 |
| Support costs | ||
| Finance | ||
| Repairs | 220 | - |
| IT expenses | 58 | 136 |
| Bank charges | 64 | 104 |
| Other 3 | 342 | 240 |
| Depreciation of tangible fixed assets | 4,029 | 4,029 |
| Governance costs | ||
| Accountancy and legal fees | 1,200 | 1,020 |
| Total resources expended | 44,822 | 38,022 |
| Net income before gains and losses | 52,676 | 32,132 |
| Realised recognised gains and losses | ||
| Unrealised (losses)/ gains on the investments | (399,427) | 4,492 |
| Net (expenditure)/income | (346,751) | 36,624 |
This page does not form part of the statutory financial statements
Page 10