The Linden Charitable Trust Financial Statements for the year ended 5th April 2025 Charity Number: 326788
The Linden Charitable Trust
| Contents | Page |
|---|---|
| 3 | |
| Trustees and Advisors | |
| Trustees’ Report | 4-6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Affairs | 8 |
| Balance Sheet | 9 |
| NotestotheFinancialStatements | 10-17 |
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The Linden Charitable Trust Trustees & Advisors For the year ended 5th April 2025
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Charity Number: 326788
Trustees JF H Swales
K A Swales M G Swales R W H Swales
Principal Office P O Box 826 Harrogate HG1 9XO
Investment Bankers Redmayne Bentley LLP 9 Bond Court Leeds LS1 2J5Z
Independent Examiners Lithgow Perkins LLP Crown Chambers Princes Street Harrogate HG1 1NJ
Solicitors Addleshaw Goddard Sovereign House Sovereign Street Leeds LS1 1HQ
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The Linden Charitable Trust Trustees Report For the year ended 5th April 2025
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The Trustees present their annual report and financial statements for the charity for the year ended 5th April 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of treland (FRS102) (January 2022).
Objectives and Activities
The objectives of the Charity are defined widely in the governing documents to include any charitable activity. The Trustees have considered the Charity Commission's guidance on public benefit and currently the trustees’ policy is to benefit charities specialising in cancer relief and research, those particularly involved with hospices, those involved in arts, charities supporting children, loneliness and combatting general disease as well as a wider range of charities based in and around North and West Yorkshire.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aim and objectives and in planning future activities and setting the grant making policy for the year.
Requests from larger charities and for larger one off amounts are also considered if they are particularly pertinent to the Charity's objectives and benefit the North and West Yorkshire region. This geographical restriction is deemed reasonable by the Trustees.
Grant Making Policy
The Charity has established its grant making policy to benefit charities in line with its charitable objects and purposes in the United Kingdom as the trustees see fit.
Financial Review
The Charity is reliant on income from its investment portfolio. At 5th April 2025, the market value of the portfolio was £3,296,143 (2024 £3,308,773) and during the year the Charity received £92,021 (2024 £80,957) of dividends and interest. Total expenditure in the year was £101,446 (2024 £114,775). This amount includes £78,000 (2024 £94,300) of grants paid during the year.
Investment Policy, Performance and Achievements
The Trust's investments managers have been instructed by the Trustees to maximise the total return on the Charity's funds within the constraints of a medium to low risk portfolio. During the year, there were additions of £1,200,903 (2024 £963,489) to the portfolio and sales of £1,182,220 (2024 £877,428). There was a revaluation loss during the year of £23,348 (2024 gain £282,725) leaving the market value at 5th April 2025 (excluding cash) at £3,288,292 (2024 £3,291,952).
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The Linden Charitable Trust Trustees & Advisors For the year ended 5th April 2025
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During the year, the Charity made grants totalling £78,000 (2024 £94,300) to a number of different recipients. The full list of the grants paid during the year can be found in note 5 to these financial statements.
Risk Management
The principal risk faced by the Charity lies in the performance of investments. The Trustees consider variability of investment returns to constitute the charity's major financial risk. This mitigated by retaining expert investment managers and havinga diversified investment portfolio.
Reserves Policy
The Trustees have power to establish funds for particular purposes or to maintain reserves. The Trustees intention is to hold the investment portfolio at a consistent level (subject to market fluctuations) and expend any income received in the year on charitable purposes. The balance held as unrestricted funds at 5th April 2025 was £3,394,734, the majority of which is represented by the investment portfolio. The Trustees have reviewed the level of available reserves and are satisfied that there are sufficient for meeting necessary costs over the next year.
Achievements of the Charity
The achievement of the Charity throughout the year was donating to various charities. The grants were used by the various charities for a multitude of purposes dependent on the nature of the specific charity, all of which will benefit the public in the North and West Yorkshire area.
The grants made in the year amounting to £78,000 (2024 £94,300) have continued to fulfil the Charity's objectives. In additional to continuing to support smaller charities, the Charity also aims to make some larger one off grants in the future in line with their objectives.
Fundraising Activities
The Charity does not seek to fundraise externally and does not run any external fundraising campaigns or publicity.
Plans for the Future
The Trustees plan as far as is possible that sufficient income is available to be able to continue to make donations at similar levels as at present to potential beneficiaries who may be eligible.
Structure, Governance & Management
The Trust is a registered charity, number 326788, and is constituted under a trust deed dated 31st January 1985.
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The Linden Charitable Trust Trustees & Advisors For the year ended Sth April 2025
aThe trustees have administered the Charity during the year, as far as practicable, in accordance with the terms and objects of the Charity as laid down in the original deed.
The power of recruiting and appointing new and additional trustees is set out in clause 12 of the Trust Deed and vests with the trustees.
New trustees undertake appropriate training and advice in relation to being a charity trustee.
Key Management Personnel Remuneration
The Trustees consider the board of trustees as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis.
All but one trustees give of their time freely. One of the trustees has received renumeration via a related party for the preparation of the accounts.
Trustees’ Responsibilities in relation to the Financial Statements
The charity trustees are responsible for preparing the trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales required the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and estimates that are responsible and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the trust deed. 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.
Approved by Trustees and signed on their behalf by:
K Swales
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Date: _ 30 January 2026 4
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Trustee
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The Linden Charitable Trust
Independent Examiner's Report to the Trustees of the Linden Charitable Trust For the year ended 5th April 2025
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| report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 5 April 2025.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
| report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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_ the accounts did 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.
| 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.
Michael Briggs FCA Lithgow Perkins LLP Crown Chambers Princes Street Harrogate HG1 1NJ
Date: 03 February 2026
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The Linden Charitable Trust Statement of Financial Activities For the year ended 5th April 2025
ST
| Total | unrestricted | Total | unrestricted | ||
|---|---|---|---|---|---|
| Notes | funds | YearEnded | funds | YearEnded | |
| 5th April2025 | 5thApril2024 | ||||
| Incomefrom: | |||||
| Investments | 2 | 92,021 | 80,957 | ||
| Total Income | 92,021 | 80,957 | |||
| Expenditure on: | |||||
| Charitable activities | 3 | 80,945 | 96,119 | ||
| Raising funds | 4 | 20,501 | 18,656 | ||
| Total Expenditure | 101,446 | 114,775 | |||
| Net(expenditure)before gains and losses on investments |
(9,425) | (33,818) | |||
| Net(loss)/gain on investments | 7 | (23,348) | 282,725 | ||
| NetMovement infunds | (32,773) | 248,907 | |||
| Reconciliation offunds | |||||
| Total funds boughtforward | 3,427,507 | 3,178,600 | |||
| Totalfundscarriedforward | 3,394,734 | 3,427,507 |
The notes on pages 10 to 17 form part of these financial statements.
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The Linden Charitable Trust
Balance Sheet
For the year ended 5th April 2025
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|---|---|---|---|---|---|---|---|
|a—————_—|
|Total|unrestricted|Total|unrestricted|
|Notes|funds|Year Ended|funds|Year Ended|
|5th April 2025|5th April 2024|
|Fixed Assets:|
|Investments|7|3,296,143|3,308,773|
|Tangible|fixed|assets|8|0|)|
|Total Fixed Assets|3,296,143|3,308,772|
|Current Assets:|
|Debtors|9|0|0|
|Prepayments|10|0|0|
|Cash|at|bank and|in|hand|102,184|121,256|
|Total Current Assets|102,184|121,256|
|Current|Liabilities:|
|Creditors|failing|due|within|one year|11|(3,593)|(2,521)|
|Net Current Assets|98,591|118,735|
|Net assets|3,394,734|3,427,507|
|The|funds|of the|charity:|
|Unrestricted|income|funds|12|3,394,734|3,427,507|
|Total Charity Funds|3,394,734|3,427,507|
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The financial statements on pages 8 to 17 were approved by the board to trustees and authorised for
issue on 30 January 2026 and are signed on its behalf by:
K Swales Trustee
The notes on pages 10 to 17 form part of these financial statements.
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The Linden Charitable Trust Notes to the Financial Statements For the year ended 5th April 2025
1. Accounting Policies
Basis of preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction valueless otherwise stated in the relevant notes to these financial statements. The financial statements have been prepared in accordance with the Statements of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (January 2022) and the Charities Act 2011.
The Charity constitutes a public benefit entity as defined by FRS 102.
The trustees have a reasonable expectation that the charity has adequate resources to continue in existence for the foreseeable future. They continue to believe they going concern basis of accounting is appropriate in preparing the financial statements.
Incoming Resources
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Any donations are recognised when the Charity has been notified in writing of both the amount and the settlement date.
Investment income from bank interest is bought into the account gross when receivable. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by the Charity's investment advisor of the dividend yield of the investment portfolio.
Resources Expended
All expenditure is accounted for on accruals basis. Governance costs include those incurred in the governance of the charity and its assets and primarily associated with constitutional and statutory requirements.
Grants payable are payments made to third parties in the furtherance of the charitable objects of the Charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to the grant is outside of the control of the Charity.
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The Linden Charitable Trust Notes to the Financial Statements For the year ended 5th April 2025 eeeee eee Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount of the grant payable.
Costs of Raising Funds
The costs of generating funds consist of investment management costs and certain legal fees.
Charitable Activities
The costs of charitable activates include grants made and governance costs.
Fixed Asset Investment
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.
Fixed Assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. The charity's depreciation policy is set out below:
Computer equipment
5 years straight line
in the year of purchase, depreciation is calculated on a monthly basis.
Realised and Unrealised Gains and Losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase price if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between their fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
Unrestricted Funds
Unrestricted funds are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Taxation
As a registered charity, The Linden Charitable Trust is exempt from the payment of income and capital gains tax in respect of its charitable activities.
rr
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The Linden Charitable Trust Notes to the Financial Statements For the year ended 5th April 2025
| For the year ended 5th April 2025the year ended 5th April 2025year ended 5th April 2025ended 5th April 20255th April 2025April 20252025 | For the year ended 5th April 2025the year ended 5th April 2025year ended 5th April 2025ended 5th April 20255th April 2025April 20252025 | For the year ended 5th April 2025the year ended 5th April 2025year ended 5th April 2025ended 5th April 20255th April 2025April 20252025 | For the year ended 5th April 2025the year ended 5th April 2025year ended 5th April 2025ended 5th April 20255th April 2025April 20252025 |
|---|---|---|---|
| SS | |||
| 2. Incomefrom Investments | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Dividends received | 74,894 | 74,927 | |
| Interest received | 17,127 | 6,030 | |
| 92,021 | 80,957 | ||
| 3. Expenditure on CharitableActivities | |||
| Notes | 2025 | 2024 | |
| £ | £ | ||
| Grants paid to institutions | 5 | 78,000 | 94,300 |
| Support Costs | 6 | - | 7 |
| Governance Costs | 6 | 2,945 | 1,819 |
| 80,945 | 96,119 | ||
| 4. Expenditure on Raising Funds | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Investment management fees | 20,501 | 18,656 | |
| 20,501 | 18,656 |
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The Linden Charitable Trust Notes to the Financial Statements
For the year ended 5th April 2025
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5. Analysis of Grants paid to Institutions
| 5. Analysis of Grants paid toof Grants paid topaid toto Institutions | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| A Stroke of Luck | - | - |
| Candlelighters Trust | 2,000 | 1,000 |
| Carer's Resource | - | - |
| Caring for Life | 1,000 | - |
| Cheshire Disability | 1,000 | 1,000 |
| Children's Heart Surgery Fund | - | - |
| Children with Cancer | - | 1,000 |
| ClicSargent | . | 1,000 |
| Craven College | 2,000 | - |
| Dementia Forward | - | - |
| Disability Action | 1,000 | - |
| Emma Maltby Memorial Fund | 2,000 | 1,000 |
| Emmaus Leeds | . | 1,000 |
| Follifoot Park Disabled Riders Group | 1,000 | 1,000 |
| ForgetMe Not Children’s Hospice | 2,000 | 2,000 |
| Friends of Harrogate Hospital | - | - |
| Guide Dogs | - | 1,000 |
| Harrogate Round Table | 3,000 | - |
| Harrogate Theatre Hearing Dogs for DeafPeople |
- 1,000 |
1,000 1,000 |
| Henshaws Society forthe Blind | 1,000 | 1,000 |
| Herriot Hospice Homecare | 2,000 | 2,000 |
| Hope Pastures (The Phyllis Harvey Horse and Donkey Trt | - | 500 |
| Horticap Inn Churches, Bradford |
1,000 5,000 |
1,000 4,000 |
| Leeds Children's Charity | - | - |
| Leeds College ofMusic | 1,500 | 1,300 |
| Leeds Samaritans | . | 1,000 |
| Leeds Teaching Hospital | 10,000 | . |
| Leonard Cheshire Disability (Wharfedale House, Wetherb: | - | - |
| Lifeline Harrogate | - | 1,000 |
| Little Sisters ofthe Poor | - | 2,000 |
| Macmillan Cancer Support | 2,000 | 2,000 |
| Marie Curie | 2,000 | 2,000 |
| Martin House Hospice | 2,000 | 2,000 |
| MIND (Harrogate) National Children's DeafSociety |
- 4,000 |
1,000 1,000 |
| Northern Ballet | 1,000 | 1,000 |
| Opera North Foundation | 1,000 | 1,000 |
| Operation Smile PDSA (Head Office) |
1,000 - |
500 |
| RNLI Subtotalcarriedforward |
- 46,500 |
1,000 39,300 |
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The Linden Charitable Trust
Notes to the Financial Statements For the year ended 5th April 2025
ES
- Analysis of Grants paid to Institutions continued
| 5. Analysis of Grants paid toof Grants paid topaid toto Institutions continued | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Subtotal carried forward | 46,500 | 39,300 |
| Royal Airforce Benevolent Fund Samaritans of Harrogate |
- 1,000 |
1,000 1,000 |
| SASH (Safe & Sound Homes) | - | - |
| School for Conduct | - | - |
| Sick Children Trust | - | - |
| StGemmas Hospice | 2,000 | 2,000 |
| St George’s Crypt St Johns Catholic School forthe Deaf |
2,000 1,000 |
2,000 1,000 |
| St Michael’s Hospice | 4,000 | 2,000 |
| Steve Rosser (Generators for Ukraine) Sue RyderCare -Wheatfields Hospice |
- 2,000 |
- 2,000 |
| Sunshine and Smiles - Leeds Down Syndrome Network | - | - |
| Supporting Older People ClO Sylvia Wright Trust The MaryWood Trust |
1,000 2,000 7,000 |
- 2,000 35,000 |
| Theodora Children | - | - |
| Ukraine Appeal Veterans Aid |
- - |
- 1,000 |
| Vision Support Harrogate District | 1,000 | - |
| Walk ThisWay | . | - |
| War memorial Trust | - | 500 |
| WestYorkshire Dog Rescue Yorkshire AirAmbulance |
1,000 2,000 |
1,000 2,000 |
| Yorkshire Cancer Research | 2,000 | 2,000 |
| Yorkshire Cat Rescue | 1,000 | 1,000 |
| Yorkshire Eye Research (Giving ofSight) Yorkshire Wildlife Trust |
- 500 |
1,000 500 |
| Zoe's Trust Place | 2,000 | - |
| TOTAL | 78,000 | 94,300 |
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The Linden Charitable Trust Notes to the Financial Statements
For the year ended Sth April 2025
| For the year ended Sth April 2025the year ended Sth April 2025year ended Sth April 2025ended Sth April 2025Sth April 2025April 20252025 | ||
|---|---|---|
| i | eee | |
| 6. Governance andSupport Costs | ||
| 2025 | 2024 | |
| £ | £ | |
| Governance Costs | ||
| Accountancy Fees | 1,450 | 1,450 |
| Independent examiner's fees | 1,071 | 1,071 |
| Administrative expenses | 424 | (702) |
| 2,945 | 1,819 | |
| Support Costs | ||
| Depreciation | 0 | 0 |
| 7. FixedAsset Investments | ||
| 2025 | 2024 | |
| £ | £ | |
| Movement in fixed assets listed investments | ||
| Marketvalue brought forward (excluding cash) | 3,291,952 | 2,923,166 |
| Additions to investments at cost | 1,200,903 | 963,489 |
| Disposals at carrying value | (1,182,220) | (877,428) |
| Equalisation | 1,005 | |
| Net (loss)/gain on revaluation | (23,348) | 282,725 |
| 3,288,292 | 3,291,952 | |
| Cash held within the portfolio | 7,851 | 16,820 |
| Market value carried forward | 3,296,143 | 3,308,773 |
| Investments at fair value | ||
| Comprised: | ||
| Equities | 1,698,371 | 2,255,107 |
| Fixed Interest securities | 934,764 | 375,230 |
| Funds | 655,157 | 661,615 |
| Cash held within the investment portfolio | 7,851 | 16,821 |
| 3,296,143 | 3,308,773 |
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The Linden Charitable Trust
Notes to the Financial Statements For the year ended 5th April 2025
Neeeeeen 8. Tangible Fixed Assets
| 8. Tangible Fixed AssetsAssets | |||||
|---|---|---|---|---|---|
| 2025 | 2024 | ||||
| £ | £ | ||||
| Cost | 2,040 | 2,040 | |||
| Additions | 0 | 0 | |||
| Closing Cost at 5 April | 2,040 | 2,040 | |||
| Depreciation | |||||
| Boughtforward | (2,040) | (2,040) | |||
| Charge | |||||
| Closing Costat5 April | (2,040) | (2,040) | |||
| Net BookValue at 5 April | 0 | 0 | |||
| 9. Debtors | |||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Debtors | 0 | ——— | |||
| 10. Prepayments | |||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Prepayments | 0 | - | |||
| 11. Creditors:Amountsfalling due within oneyear | |||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Accruals | 3,593 | 2,521 | |||
| 12. Movement in Funds | |||||
| Incoming | Resources | Gains and | |||
| At6th April 2024 | resources | expended | Losses | At 5th April 2025 | |
| Unrestricted Funds | |||||
| General Funds | 3,427,507 | 92,021 | (101,446) | (23,348) | 3,394,734 |
| a | |||||
| Total Charity Funds | 3,427,507 a he |
92,021 (101,446) anae en |
(23,348) | 3,394,734 | |
| SN | Page16of17 | Ss... |
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The Linden Charitable Trust Notes to the Financial Statements For the year ended 5th April 2025
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13. Related Party Transactions
One trustee is paid to provide professional accountancy services via a related party, details of the costs are captured in note 6 of the accounts £1,450 (2024 £1,450). All other trustees give their time and expertise freely.
SS
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