Walter Lyon Trust Registration number: 509265 Annual Report and Financial Statements 5 April 2024 ECLgJlVE - 19 DEC 2021 Walter Lyon Trust Contents Reference and administrative information Trustees, report Statement of financial activities Balance sheet Notes to the financial statements Independent review 10 Walter Lyon Trust Reference and Administrative Details Charity name Walter Lyon Trust Charity registration number 509265 Principal office Vvalter Lyon House Quernmore Road Lancaster LA13JT Trustees A E Huntington HEClay E Hunter S W Robinson (resigned 27 March 2024) A Simpson (appointed 4 December 2023) Bankers CCLA 80 Cheapside London EC2V 6DZ Page 1 Walter Lyon Trust Trustees, Report for the Year Ended 5 April 2024 The trustees present their report on the financial ststements of the Trust for the year ended 5 April 2024. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The trust was established by a Trust Deed dated 30 March 1979 and was registered with the Charity Commissioner on 23 October 1979. The trust's governing document was updated by way of a scheme approved by the Charity Commission and dated 10 August 1994 (with a further amendment by resolution dated 17 February 2010). On 6 April 1998 the assets and liabilities of the trust were transferred to a limited company, Inward House Projects Limited, with the exception of the propety now known as Walter Lyon House which, under the terms of a legacy, is regarded legally as a pemianent endowment of the trust. On 20 January 2017 the trust changed its name to Walter Lyon Trust in recognition of its founder Walter Lyon. Appointment of Trustees Trustees are appointed in line with the Scheme by the existing trustees. The number of trustees should not fall below three or be more than five_ The original Trust Deed expressed the wish {without imposing any legal obligation) that at least one trustee should be a medical practitioner. The trustees must hold meetings at least t￿l¢e a year. OBJECTIVES AND ACTIVITIES The objectives of the Trust are to help those in recovery from drug and alcohol addiction, primarily by the provision of accommodation and care on a short term basis. These objectives are currently met by renting the propety to another charity which has compatible objectives. Page 2 Walter Lyon Trust Trustees, Report for the Year Ended 5 April 2024 ACHIEVEMENTS AND PERFORMANCE Walter Lyon House is leased to another charity. which conts.nues the charitable work of the Trust. Rent has been paid by the charity to the Trust for use of the propety. The trustees have had due regard to the Charity Commission's public benefit guidan The principal source of funding during the year was rental income for use of Walter Lyon House Outgoing resources have been expended on property costs and charity management costs. FINANCIAL REVIEW On the basis of their review of the years, activities. the trustees are satisfied with the financial position at 5 April 2024. Reserves Policy The Trust now has sufficient reserves to cover major repair and capital expenditure on the propety and the trustees are considering modest increases in expenditure on charitable activities in future years. Approved by the Trustees on L I IT IzoLLt and signed on their behalf by.. HEClay Trustee A Simpson Trustee Page 3 Walter Lyon Trust Statement of financial activities for the Year Ended 5 April 2024 Unrestricted Endowment Funds Funds Total Funds 2024 Total Funds 2023 Note Income and endowments from Investments Charitable activities Total income and endowments 3067 43732 46799 3067 43732 46799 925 43001 43926 Expenditure Charitable activities Total expenditure 28196 28196 2378 2378 30574 30574 20633 20633 Net movement in funds 18603 (2378) 16225 23293 Reconciliation of funds Total funds brought forward Total funds carried forward 12 244372 59470 57092 303842 280549 The notes on pages 6 to 9 form an integral part of these financial statements. Page 4 Waltsr Lyon Trust Balance Sheet as at 5 April 2024 2024 2023 Note Fixed assets Tangible Assets 57092 59470 Current assets Other debtors Cash at bank and in hand 438 263155 263593 249426 249426 Creditors Amounts falling due within one year 618 5054 Net current assets 262975 244372 Net assets The funds of the charity: Endowment funds 57092 59470 Unrestricted funds Unrestricted income funds 262975 244372 Total Charity funds 12 These financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities (Charities SORP (FRS 102)}. Approved by the Board on z I I I l Lts and signed on its behalf by.. HEClay Trustee A Simpson Trustee The notes on pages 6 to 9 form an integral part of these financial statements. Page 5 Walter Lyon Trust Notes to the Financial Ststements for the Year Ended 5 April 2024 Accounting policies Basis of preparation The financial statements of the Charity are prepared under Ihe historical cost convention. They have been prepared in accordance with the Charilies Act 2011. the Financial Reporting Standard applicable in the UK {FRS 102), and Ihe Accounting and Reporting by Charities.. Siatement of Recommended Practice applicable to charities (Charities SORP (FRS 102)). The Charity is a public benefit entity under FRS 102. its presentalion currency is Sterting (rounded lo the nearest £1)- The Trustees believe Ihe Society is a going-concern, and have p￿pared the financial statements on that basis. Fund accounting policy Unrestricted income funds are general fvnds that are available for use at the trustees. discretion in furtheran￿ ol the objectives of the charity. The permanent endowment fijnd represents the carrying value of a propety known as Walter Lyon House which, under the terms of a legacy. is regarded legally as a permanent endowment of the trust. Further details of each fund are d6closed in note 11. Incoming resources Investment income is recognised on a re￿1vable basis. Income from charitable activities includes income ￿cogniSed as eamed (as the related goods or services are provided) under contract. Resources expended Liabililies are recognised as soon as there is a legal or constructive obligation committing the charity lo the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Charitable expenditure comprises Ihose costs incurred by the charity in the delivery of its activities and seNices for its beneficiaries. It indudes both costs that can be allocated directly lo such activities and those costs of an indirect nature necessary lo support them. Govemance costs Govemance costs include costs of the preparation of the statutory accounts. the costs of trustee meetings and the cost of any legal advi￿ to twstees on governan￿ or constitutional matters. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. Page 6 Walter Lyon Trust Notes to the Financial Statements for the Year Ended 5 April 2024 Depreciation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation. less any estimated residual value. over their expected useful economic life as follows-. Land and buildings 2 % straight line basis Investment income Unrestricted Endowment Funds Funds Total Funds 2024 Total Funds 2023 Interest on cash deposits Incoming resources from charitable activities Unrestricted Endowment Funds Funds Total Funds 2024 Total Funds 2023 Charitable activities Rental income Insurance recharge 39098 4634 43732 39098 4634 43732 38610 4391 4300 Total resources expended Charitable Activities Total 2024 Total 2023 Governance Direct costs Depreciation of freehold propety Accountancy Adverts Insurance Repairs and renewals Professional fees Travel expenses Sundry Charitable grant 2378 2378 618 651 5303 18900 2378 474 618 651 5303 18900 4898 11578 784 327 194 117 607 2000 117 607 2000 618 Trustees, remuneration and expenses No trustees received any remuneration or expenses during the year. Page 7 Walter Lyon Trust Notes to the Financial Statements for the Year Ended 5 April 2024 Net incoming resources Net incoming resources is stated after charging: 2024 2023 Depreciation of owned assets 237 Tangible fixed assets Land and Buildings Cost As at 6 April 2023 and 5 April 2024 118920 Depreciation As at 6 April 2023 Charge for the year As at 5 April 2024 59450 2378 61828 Net book value As at 5 April 2024 As at 5 April 2023 092 59470 The propety known as Walter Lyon House is considered by the trustees to have a market value of £340,000 as at 5 April 2024. This valuation has not been reflected in these financial statements. Debtors 2024 2023 Sundry debtors Creditors 2024 2023 Accruals Deferred Income 618 858 4196 Page 8 Walter Lyon Trust Notes to the Financial Ststements for the Year Ended 5 April 2024 10 Controlling entity The charity is controlled by the trustees. 11 Analysis of funds At 6 April 2023 Incoming resources Resources expended At 5 April 2024 General Funds Unrestricted income fund 244372 46799 {28196) 262975 Permanent Endowment Walter Lyon House 59470 57092 12 Net assets by fund Unrestricted Endowment Total Funds Funds Funds 2024 Total Funds 2023 Tangible assets Current assets Current liabilities Net assets 57092 57092 263593 618 59470 249426 5054 263593 618 262975 13 Related Party Transactions There were no transactions with related parties {2023.' none). Page 9 Independent Examinerfs Report to the Trustees of Walter Lyon Trust I report lo the charity tnjstees on my examination of the accounts of the charity for the year ended 5 April 2024 which are set out on page5 2 to 9. Responsibilities and basis of report As the charity's Iruslees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Acl')- report in respect of my examinalion of the chartty's accounts carried out under secb'on 145 of Ihe Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)Ib) of the Act. Independent examinerfs statement I have completed rny examination. I confirm that no malerial matters have come to my attention in connection with the examination giving me cause lo believe Ihat in any matetial respect- accounting records were not kept in respect of the charity 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 conceming the fonn and content of accounls sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lTue and fair view, which is not a matter considered as part of an independenl examination. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in or r to enable a proper understanding of the accounts to be reached. Christopher Gardner FCA- ICAEW The Old Court House Clark Street Morecambe Lancashire LA4 SHR Date l*- It- Page 10