Lancaster Foundation

Objectives

The object of the charity is to financially support Christian based registered charities across the world.

Professional Advisers

Auditors Jones Harris
Legal Advisers Forbes & Partners

Trustees

Mr J E Lancaster, Mrs R Lancaster (Correspondent), Mr S J Lancaster, Mrs J R Broadhurst

Investment Policy

The charity generates income through its investments and in accordance with the trust deed, the trustees have the power to invest in such stocks, shares, investments and property m the UK as they see fit. The Trustees retain and take advice from an independent financial advisor. The policy is to adopt a low risk investment strategy based on maximising income within this strategy in order to cover annual expenditure and donations. Investment income has risen from 1,849,920 last year to 2,496,910. However there was a slight fall of 90,733 in the market value of investments compared to again last year of 129,124.

Grant Policy

Grants are awarded at the absolute discretion of the board of trustees. Although many applications are received, the administrative structure of the charity does not allow for the consideration of unsolicited requests for grant funding. Due to the nature of the projects that are awarded grants, the trustees endeavour to monitor their progress and become actively involved in them wherever this is practical.

Governance

The charity is controlled by its governing document, a deed of trust dated 2 July 1997 and constitutes a registered charity. Charity number 1066850. The trustees currently foresee no requirement to recruit/appoint new trustees. However, should the need arise, the trustees will seek advice from suitably qualified advisors to help establish the specific skills required and identify prospective candidates. Should new trustees be taken on, suitable induction procedures will be undertaken and relevant training provided where a need is identified. A board of tmstees of four members are involved day to day in the activities of the charity but they also meet more formally when significant decisions are taken such as the investment of funds. A Development Director has been appointed by the trustees to ensure that Tmst monies achieve maximum value for money wherever possible. Part of this role is encouraging beneficiaries of the Trust to co-operate with each other. Mr J E Lancaster, Mrs R Lancaster and Mr S J Lancaster are also tmstees of The Grand at Clitheroe, a charitable company limited by guarantee. The Lancaster Foundation is currently providing funding to the Grand to assist the development and day to day running costs of the Grand and also the Skate Park. Mr J E Lancaster is also a trustee of Open Arms International, a charitable company limited by guarantee. The Lancaster Foundation are currently providing funding to assist the Charity in furtherance of its vision.

Reserves

It is the policy of the charity to maintain sufficient free reserves at a level to generate income adequate to cover annual donations and management and administration costs. Unrestricted funds were maintained at this level throughout the year.

Future Commitments

The trustees are currently reviewing the Foundation's detailed strategic plan; whatever the outcome of this review the trustees remain committed to spreading the Christian message by supporting charities undertaking practical projects addressing poverty and social issues.

General Review

During the year the Foundation continued to support charities promoting a Christian ethos undertaking practical projects addressing poverty and social issues both in the UK and Africa. Details of grants made in the year can be seen in the financial statements.

Text House
152 Edisford Road
Clitheroe
BB7 2LA

Tel: 01200 444 404

CC number: 1066850

Performance Guide Rankings

investment assets 204 / 1000
investment income 141 / 995
return on investments 215 / 995
investment management costs - / 743
inv mgmt costs as % of inv assets - / 743

inv mgmt costs as % of inv income - / 743
investment property 189 / 361
income from investment property - / 325
inv property inc as % of investment property - / 225

income from listed investments - / 661
income from short-term investments 2 / 726
listed investment inc as % of inv income - / 661
short-term investment assets 20 / 988

legacy income - / 226
grants received - / 88
total voluntary income 591 / 628

grants made 137 / 668
charitable expenditure - / 638
charitable expenditure as % of total expenditure - / 335
support costs - / 230
management & administration fees 88 / 970
audit fee per £m of income 613 / 949

total incoming resources 479 / 1000
total resources expended 455 / 1000
total assets 303 / 1000
period ending 2010 2011
INCOMING RESOURCES £m £m
legacies - -
grants - -
non tax effective giving 0.00 0.00
total voluntary income 0.00 0.00
activities, furtherance of charities objects - -
activities for generating funds 0.04 0.04
trading subsidiaries - -
sales and fees from operating activities 0.04 0.04
investment property - -
dividends - -
total listed investments - -
income from subsidiaries - -
interest on cash & short term inv 1.58 2.22
total investment income 1.81 2.46
TOTAL INCOMING RESOURCES 1.85 2.50

RESOURCES EXPENDED £m £m
fundraising costs - -
investment management costs - -
cost of generating funds - -
grants paid 2.30 2.60
management and admin 0.09 0.30
total charitable expenditure 2.39 2.90
TOTAL RESOURCES EXPENDED 2.39 2.90

ASSETS £m £m
intangible assets - -
tangible fixed 2.29 1.85
investment property 1.90 5.06
equities - -
bonds - -
listed investments 4.03 4.42
investment assets 5.93 9.49
other fixed assets - -
total fixed assets 8.22 11.34
stock - -
debtors 0.42 0.71
cash 53.95 52.56
current assets 54.37 53.27
bank loans & overdrafts - -
trade & other creditors, accruals 0.04 0.04
creditors falling due within one year 0.04 0.04
net current assets 54.34 53.23
loans - -
future long-term grant commitments - -
trade creditors - -
subsidiary & associated undertakings - -
creditors falling due after one year 12.50 15.00
provisions for liabilities and charges - -
TOTAL ASSETS 50.06 49.57

ASSETS £m £m
income funds - -
endowment funds - -
restricted funds - -
TOTAL FUNDS 50.06 49.57