REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
The Lendrick Trust |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
The Lendrick Trust |
The Lendrick Trust |
Contents of the Financial Statements |
for the Year Ended 30 November 2023 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 | to | 11 |
The Lendrick Trust |
Reference and Administrative Details |
for the Year Ended 30 November 2023 |
TRUSTEES |
COMPANY SECRETARY | Mrs V Mulhearn |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Drummond Laurie CA |
Unit 5 Gateway Business Park |
Beancross Road |
Grangemouth |
Stirlingshire |
FK3 8WX |
The Lendrick Trust (Registered number: SC107364) |
Report of the Trustees |
for the Year Ended 30 November 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The principal charitable purposes of the Lendrick Trust are:- |
To support and improve the mental, physical and spiritual health of individuals through complementary and holistic approaches. Our aim is to support individuals who are restricted financially or in other ways.Individuals can approach the Trust to apply for support. We facilitate scholarships for a certain amount of people each year, the amount of people we assist determined by the amount of money raised each year. Our goal is of equal opportunities on the path of spiritual and personal growth. Scholarships can be used for courses, retreats, respite, counselling, seminars or teacher training. |
To advance public education in the practice and principles of Yoga, Acupuncture, Reiki, Meditation, relaxation techniques, cancer care, counselling and support and other holistic therapies. |
Significant activities |
Our goal is to raise public awareness of alternative methods and techniques that can support the health, well-being and happiness of people. We offer advice and information about complementary therapies to support the other choices available. |
At Lendrick Lodge we meet many people in need of support and love. The Lendrick Trust reaches many people who would otherwise be restricted from this path. As the saying goes, ‘Give a person a fish, and you feed them for a day; give them a fishing rod and you feed them for life’. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Our goal is to empower people so that they can heal, grow and stand on their own feet. The charity is a compass to guide people on their true path. |
FINANCIAL REVIEW |
Financial position |
The financial resources received by the Lendrick Trust in 2023 remain sufficient. This is detailed in the accounts provided. Financial surpluses are shown in all accounts. From these resources the charity funds all its work, staff and employment costs and principal charitable activities. |
Reserves policy |
The Reserves policy operates to ensure that the charity has means to cover operating costs. |
The Trustees make donations to other charities following budget planning, listed above. All the agreed financial commitments to other charities for the year were met. |
The full details of Lendrick Trust accounts and activities are provided in the accountant's inspection report attached. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Induction and training of new trustees |
The trustees review the make up of the board on a regular basis to ensure that there is a comprehensive representation of the knowledge and expertise the charity requires to carry out its charitable purpose and fulfil the governance requirements of the board. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
Approved by order of the board of trustees on |
The Lendrick Trust (Registered number: SC107364) |
Report of the Trustees |
for the Year Ended 30 November 2023 |
Independent Examiner's Report to the Trustees of |
The Lendrick Trust |
I report on the accounts for the year ended 30 November 2023 set out on pages five to eleven. |
Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
Independent examiner's statement |
In connection with my examination, no matter has come to my attention : |
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
- | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
have not been met; or |
(2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
Graeme Deans |
The Institute of Chartered Accountants of Scotland |
Drummond Laurie CA |
Unit 5 Gateway Business Park |
Beancross Road |
Grangemouth |
Stirlingshire |
FK3 8WX |
26 August 2024 |
The Lendrick Trust |
Statement of Financial Activities |
for the Year Ended 30 November 2023 |
30.11.23 | 30.11.22 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Total |
EXPENDITURE ON |
Raising funds | 3 |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 1,235 |
The Lendrick Trust (Registered number: SC107364) |
Balance Sheet |
30 November 2023 |
30.11.23 | 30.11.22 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
CURRENT ASSETS |
Stocks | 10 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) |
NET CURRENT ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 1,235 |
TOTAL FUNDS | 1,235 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
The Lendrick Trust |
Notes to the Financial Statements |
for the Year Ended 30 November 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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. |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition. |
The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price. |
Taxation |
The charity is exempt from corporation 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. |
Provisions |
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material. |
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. |
The Lendrick Trust |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
2. | OTHER TRADING ACTIVITIES |
30.11.23 | 30.11.22 |
£ | £ |
Sale of audio media and books | 16,178 | 16,929 |
Course fees | 4,516 | 3,898 |
3. | RAISING FUNDS |
Raising donations and legacies |
30.11.23 | 30.11.22 |
£ | £ |
Support costs |
4. | SUPPORT COSTS |
Governance |
Finance | costs | Totals |
£ | £ | £ |
Raising donations and legacies | 491 | - | 491 |
Bursaries | 1,147 | 660 | 1,807 |
1,638 | 660 | 2,298 |
Support costs, included in the above, are as follows: |
30.11.23 | 30.11.22 |
Raising |
donations |
and | Total | Total |
legacies | Bursaries | activities | activities |
£ | £ | £ | £ |
Sundries | 491 | 498 | 989 | 64 |
Bank charges | - | 649 | 649 | 627 |
Accountancy and legal fees | - | 660 | 660 | 630 |
491 | 1,807 | 2,298 | 1,321 |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
30.11.23 | 30.11.22 |
£ | £ |
Depreciation - owned assets |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 November 2023 nor for the year ended 30 November 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 November 2023 nor for the year ended 30 November 2022. |
The Lendrick Trust |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
7. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
30.11.23 | 30.11.22 |
Administrative |
8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 1,235 |
9. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 December 2022 and 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
The Lendrick Trust |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
10. | STOCKS |
30.11.23 | 30.11.22 |
£ | £ |
Stocks |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans and overdrafts (see note 12) |
Accrued expenses |
12. | LOANS |
An analysis of the maturity of loans is given below: |
30.11.23 | 30.11.22 |
£ | £ |
Amounts falling due within one year on demand: |
Bank overdrafts |
13. | MOVEMENT IN FUNDS |
Net |
At | movement | At |
1.12.22 | in funds | 30.11.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 1,235 | 169 | 1,404 |
TOTAL FUNDS | 169 | 1,404 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 23,070 | (22,901 | ) | 169 |
TOTAL FUNDS | ( |
) | 169 |
Comparatives for movement in funds |
Net |
At | movement | At |
1.12.21 | in funds | 30.11.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 2,403 | (1,168 | ) | 1,235 |
TOTAL FUNDS | 2,403 | (1,168 | ) | 1,235 |
The Lendrick Trust |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
13. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 23,335 | (24,503 | ) | (1,168 | ) |
TOTAL FUNDS | 23,335 | (24,503 | ) | (1,168 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
At | movement | At |
1.12.21 | in funds | 30.11.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 2,403 | (999 | ) | 1,404 |
TOTAL FUNDS | 2,403 | (999 | ) | 1,404 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 46,405 | (47,404 | ) | (999 | ) |
TOTAL FUNDS | 46,405 | (47,404 | ) | (999 | ) |
14. | RELATED PARTY DISCLOSURES |