Walter Lyon Trust
Registration number: 509265
Annual Report and Financial Statements
5 April 2025
Walter Lyon Trust
Contents
| Reference and administrative information | 1 |
|---|---|
| Trustees’ report | 2-3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6-9 |
| Independentreview | 10 |
Walter Lyon Trust
Reference and Administrative Details
Charity name
Charity registration number
Walter Lyon Trust
509265
Principal office
Walter Lyon House Quernmore Road Lancaster LA1 3JT
Trustees
Bankers
AE Huntington H E Clay E Hunter A Simpson
CCLA 80 Cheapside London EC2V 6DZ
Page 1
Walter Lyon Trust
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Trustees’ Report for the Year Ended 5 April 2025
The trustees present their report on the financial statements of the Trust for the year ended 5 April 2025.
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 property now known as Walter Lyon House which, under the terms of a legacy, is regarded legally as a permanent 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 twice a year.
OBJECTIVES AND ACTIVITIES
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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 property to another charity which has compatible objectives.
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Walter Lyon Trust
Trustees’ Report for the Year Ended 5 April 2025
ACHIEVEMENTS AND PERFORMANCE
Walter Lyon House is leased to another charity, which continues the charitable work of the Trust. Rent has been paid by the charity to the Trust for use of the property. The trustees have had due regard to the Charity Commission's public benefit guidance.
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 2025.
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Reserves Policy
The Trust now has sufficient reserves to cover major repair and capital expenditure on the property and the trustees are considering modest increases in expenditure on charitable activities in future years.
Approved by the Trustees on 255 Torenmery Uband signed on their behalf by:
----- Start of picture text -----
eee ) Nera iso. ee ye ae ea ee
Trustee Trustee
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Page 3
Walter Lyon Trust
Statement of financial activities for the Year Ended 5 April 2025
| Unrestricted | Endowment | Total | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds 2025 | Funds 2024 | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | from | ||||
| Investments | 2 | 9965 | - | 9965 | 3067 |
| Charitable activities | 3 | 44046 | - | 44046 | 43732 |
| Total income and endowments | 54011 | - | 54011 | 46799 | |
| Expenditure Charitable activities |
4 | 67175 | 2378 | 69553 | 30574 |
| Total expenditure | 67175 | 2378 | 69553 | 30574 | |
| Net movement in funds | (13164) | (2378) | (15542) | 16225 | |
| Reconciliation of funds | |||||
| Total funds broughtforward Totalfundscarriedforward |
12 | 262975 249811 |
57092 54714 |
320067 304525 |
303842 320067 |
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The notes on pages6 to 9 form an integral part of these financial statements.
Page 4
Walter Lyon Trust
Balance Sheet as at 5 April 2025
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2024|2024|
|Note|LS|£|£|£|
|Fixed|assets|
|Tangible|Assets|7|54714|57092|
|Current|assets|
|Other|debtors|8|485|438|
|Cash|at|bank|and|in|hand|250400|263155|
|250885|263593|
|Creditors|9|
|Amounts|falling|due|within|one|year|1074|618|
|Net|current|assets|249811|262975|
|Net|assets|304525|320067|
|The|funds|of the|charity:|
|Endowment|funds|54714|57092|
|Unrestricted|funds|
|Unrestricted|income|funds|249811|262975|
|Total charity funds|12|304525|320067|
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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 1% Jann VeLtl and signed on its behalf by:
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H E Clay A Simpson
Trustee Trustee
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The notes on pages6 to 9 form an integral part of these financial statements.
Page 5
1
Walter Lyon Trust
Notes to the Financial Statements for the Year Ended 5 April 2025
Accounting policies
Basis of preparation
The financial statements of the Charity are prepared under the historical cost convention. They have been prepared in accordance with the Charities Act 2011, 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)). The Charity is a public benefit entity under FRS 102, its presentation currency is Sterling (rounded to the nearest £1). The Trustees believe the Society is a going-concern, and have prepared the financial statements on that basis.
Fund accounting policy
Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity.
The permanent endowment fund represents the carrying value of a property 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 disclosed in note 11.
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Incoming resources
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Investment income is recognised on a receivable basis.
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
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Resources expended
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to 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 those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
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Governance costs include costs of the preparation of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance 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.
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Walter Lyon Trust
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3
4
Notes to the Financial Statements for the Year Ended 5 April 2025
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 | Total | Total | |
| Funds | Funds | Funds | Funds | |
| 2025 | 2024 | |||
| £ | £: | £ | £ | |
| Interest on cash deposits | 9965 | - | 9965 | 3067 |
| Incoming resources from charitable activities | ||||
| Unrestricted | Endowment | Total | Total | |
| Funds | Funds | Funds | Funds | |
| 2025 | 2024 | |||
| £ | £ | £ | £ | |
| Charitable activities | ||||
| Rental income | 39000 | - | 39000 | 39098 |
| Insurance recharge | 5046 | - | 5046 | 4634 |
| 44046 | - | 44046 | 43732 | |
| Total resources expended | ||||
| Charitable | Total | Total | ||
| Activities | Governance | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Direct costs | ||||
| Depreciation offreehold property | 2378 | - | 2378 | 2378 |
| Accountancy | - | 1074 | 1074 | 618 |
| Adverts | - | - | - | 651 |
| Insurance | 5872 | - | 5872 | 5303 |
| Repairs and renewals | 44889 | - | 44889 | 18900 |
| Bank charges | 151 | - | 104 | - |
| Travel expenses | 237 | - | 237 | 117 |
| Sundry | 274 | - | 274 | 607 |
| Charitable grant | 14678 | - | 14678 | 2000 |
| 68479 | 1074 | 69553 | 30574 |
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No trustees received any remuneration or expenses during the year.
5 Trustees’ remuneration and expenses
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Walter Lyon Trust
7
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Notes to the Financial Statements for the Year Ended 5 April 2025
6 Net incoming resources
| Net incoming resources is stated after charging: | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Depreciation ofowned assets | 2378 | 2378 |
| Tangible fixed assets | ||
| Land and | ||
| Buildings | ||
| £ | ||
| Cost | ||
| As at 6 April 2024 and 5 April 2025 | 118920 | |
| Depreciation | ||
| As at 6 April 2024 | 61828 | |
| Charge for the year | 2378 | |
| As at 5 April 2025 | 64206 | |
| Net book value | ||
| As at 5 April 2025 | 54714 | |
| Asat5April2024 | 57092 |
The property known as Walter Lyon House is considered by the trustees to have a market value of £340,000 as at 5 April 2025. This valuation has not been reflected in these financial statements.
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| 8 | Debtors | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Sundry debtors | 485 | 438 | |
| 9 | Creditors | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Accruals | 1074 | 618 |
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Page 8
Walter Lyon Trust
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Notes to the Financial Statements for the Year Ended 5 April 2025
10 Controlling entity
The charity is controlled by the trustees.
| :
| 11 | Analysis offunds | ||||
|---|---|---|---|---|---|
| At 6 April | Incoming | Resources | At 5 April | ||
| 2024 | resources | expended | 2025 | ||
| £ | £ | £ | £ | ||
| General Funds | |||||
| Unrestricted income fund | 262975 | 54011 | (67175) | 250171 | |
| Permanent Endowment Walter Lyon House |
57092 320067 |
- 54014 |
(2378) (69553) |
54714 304885 |
12 Net assets by fund
| Net assets by fund | ||||
|---|---|---|---|---|
| Unrestricted | Endowment | Total | Total | |
| Funds | Funds | Funds | Funds | |
| 2025 | 2024 | |||
| £ | £ | £ | £ | |
| Tangible assets | - | 54714 | 54714 | 57092 |
| Current assets | 250885 | - | 250885 | 263593 |
| Current liabilities | (1074) | - | (1074) | (618) |
| Netassets | 249811 | 54714 | 304525 | 320067 |
13 Related Party Transactions
There were no transactions with related parties (2024: none).
Page 9
Independent Examiner's Report to the Trustees of Walter Lyon Trust
| report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2025 which are set out on pages 2 to 9.
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 charity’s accounts carried out under section 145 of the 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 giving me cause to believe that in any material respect:
:
- accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records or 3. 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.
| 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. Gas ee = oma Christopher Gardner SSS FCA - ICAEW
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The Old Court House
MorecambeClark Street Lancashire LA4 5HR Date t—- N= ta ee
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