Landaid Charitable Trust Limited (Limited by Guarantee)

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

For the year ended 31 March 2009

Company number 02049 I35

Charity number 295157

Landaid Charitable Trust Limited (Limited by Guarantee) DIRECTORS AND OFFICERS

DIRECTORS AND TRUSTEES

Robin Broadhurst CBE Chair (from 12 May 2008) (appointed 12 May 2008) Neil Richmond Chair (until 12 May 2008) (resigned 21 July 2008) Sherin Aminossehe Roberl Bould Anthony Danaher (resigned 31 August 2008) Susan Freeman (resigned 30 September 2008) Michael Hussey Lynette Lackey (appointed 3 November 2008) Michael Madden (resigned 31 August 2008) Jeremy Newsum Steven Ossack Elana Overs (resigned 30 September 2008) Elizabeth Peace CBE Derek Penfold (resigned 31 August 2008) Michael Slade David Taylor

CHIEF EXECUTIVE AND SECRETARY

Jon Siddall

PRINCIPAL OFFICE & REGISTERED OFFICE

I Warwick Row London SW IE 5ER

WEBSITE www.landaid.org

AUDITOR

Baker Tilly UK Audit LLP lSi Floor 46 Clarendon Road Watford WD 17 I.JJ

PRINCIPAL BANKERS

Bank of Scotland PLC 14-16 Cockspur Street London SWIY 5BL

L10yds TSB PLC 98 Victoria Street London SWIE 5JL

COMPANY NUMBER

02049135

REGISTERED CHARITY NUMBER

295157

The charity is also known as LandAid.

Page I

Landaid Charitable Trust (Limited by Guarantee) TRUSTEES'REPORT

The trustees are pleased to present their report together with the audited financial statements of the charity for the year ended 3 I March 2009. The trustees are also directors under company law and this report represents the directors' annual report.

Principal Activity

The company is the principal charity of the property industry. LandAid raises funds within the industry through a combination ofdirect fundraising and charitable fundraising activities. The charity mainly supports projects aimed at providing facilities, training and education, and support to the homeless in the UK, with a particular emphasis on young people.

Objectives aDd Activities

The principal objective during the year was to further develop the charity's fundraising efforts through an active programme of direct fundraising and events and thereby increase LandAid's grant giving capability and the impact of its work in helping to build new lives and futures, especially for the young and homeless.

Achievements and Performance

Fundraising Four core fundraising events were organised raising well in excess of £150,000 which represented an increase of more than 50% on the previous year. In addition to the Party Near The Park, the Fun Run and the Summer Ball, LandAid also organised a successful concert in association with the Chartered Surveyors Livery Company, reflecting an active intention to develop closer relationships with other key organisations within the industry.

LandAid was once again the beneficiary of a number of important industry events reflecting the growing recognition of its charitable work in partnership with the propeliy sector. These included the Anglo Irish Bank Regatta, Cycle to Cannes, the Property Race Day, the Property Week Awards dinner, the Resi 08 conference, and for the first time the Rugby Legends Dinner. These collectively raised well over £100,000.

Welcome direct funding was also received notably from longstanding supporters Land Securities pic, Helical Bar pic, Grosvenor, and GVA Grimley.

Foundations for Life

As a result significant progress has been made under our flagship Foundations/or Life programme in support of Centrepoint, the leading youth homelessness charity. The first five centres have been established where the young homeless are now benefiting from the enhanced facilities, expert support, and training in general life skills they desperately need to help them turn round their lives. LandAid has so far invested nearly £ 1miJlion in this impOliant ground breaking initiative.

Small Grants Programme

Six homelessness projects have also been supported under the Small Grants programme reflecting LandAid's ongoing commitment to fund a range ofdeserving projects around the country. The successful projects are based in Manchester, Nottingham, Sheffield, Bath, Hampshire and London and included a grant of £8,000 towards the establishment of a major new Emmaus project in Winchester and a similar amount to St Mungo's towards the cost of equipping a new workshop to provide employment opportunities to homeless people in producing furniture and garden equipment.

Organisation

Important steps have been taken under the lead of new Chairman, Robin Broadhurst, to establish a more robust governance structure. The size of the Board ofTrustees was reduced and specific responsibilities were assigned to individual trustees within a new committee structure as follows: Rob Bould (Fundraising); Mike Slade (Events); Jeremy Newsum (Grants), Liz Peace (Communications & PR); Mike Hussey (Governance); and Lynette Lackey (Finance) who joined the Board during the year to provide additional professional expertise on finance matters.

Page 2

Landaid Charitable Trust (Limited by Guarantee) TRUSTEES' REPORT (continued)

Financial Review

Income for the year remained steady at £880,030 (2008 - £870, 069) including restricted income for 'Foundations/or Life' of£ 142,555. An increase in fundraising activities was offset by a somewhat reduced level of voluntary income and a significant fall in investment income. The latter rellected the major lowering of interest rates and a reduction in funds retained as grant commitments were realised.

Expenditure also remained broadly the same with an overall figure of£ I,046,976 (2008 - £/,/1/,/6/). The major commitment to grant funding was maintained with a further investment of nearly £400,000 to the 'Foundations/or Life' programme and nearly £40,000 under the Small Grants programme. The slight increase in management costs reflected the first full year in post of the chief executive.

The overall outcome showed a deficit, after charitable commitments, of£ 166,946 (2008 - deficit 0/£241,092) with a balance of general unrestricted reserves carried forward of £266,860.

Plans for Future Periods

Over the next year, LandAid's key priority will be to broaden and develop its strong existing supporter base and further strengthen its role as the principal charity of the property sector, and the industry'S awareness ofLandAid's work.

The specific focus will be to raise significant funds to be applied in support of charities and projects committed to helping to build new lives and futures, especially for the young and homeless. This will be achieved through direct fundraising, in particular through the scheduled 'Foundation Partner' initiative, and an enhanced programme of events, both those run by LandAid and those where LandAid is the nominated beneficiary. The particular goal is for LandAid to help more young people, support more dynamic charities and fund more deserving projects.

The charity will also seek to expand its involvement in promoting effective charitable giving within the sector, developing the use of the industry's resource and expertise for charitable purposes (for example through pro bono work and volunteering), and generally helping achieve best practice in corporate social responsibility.

Structure, Governance and Management

Governing Document

Landaid Charitable Trust Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 8 August 1986, as amended on 12 March 2007. It is also registered as a charity.

The objects of the Company are:

I) to relieve poverty and sickness anywhere in the world, in particular by responding to homelessness in the United Kingdom; and

2) to advance education in hunger and disaster-stricken countries throughout the world.

The trustees may admit individuals or organisations into membership but in practice this is restricted to trustees of the charity. There are currently 10 members (15 in 2008), each of whom agrees to contribute £ I in the event of the company being wound up.

Appointment of Trustees

When considering candidates for nomination, the Board ofTrustees has regard to the candidate's position within the property industry (from which the charity's support is drawn), their influence and willingness to solicit support for the charity, and their ability to participate fully in the charity's governance and activities.

Trustee 1nduction and Training

Trustees are advised of their obligations under charity and company law and receive a copy of the Memorandum and

Page 3

Landaid Charitable Trust (Limited by Guarantee) TRUSTEES' REPORT (continued)

Articles of Association as well as recent financial statements and board papers. They also receive details of the committee and sub-committee structure of the company, including decision-making powers, and are briefed on the CUlTent strategy of the charity and its plans for the future. Trustees are encouraged to undertake appropriate external training where this will facilitate their role.

Organisation

The Board of Trustees is responsible for setting the policy and direction of the charity. The Board ordinarily meets four times a year. There are six sub-committees covering Fundraising, Events, Grants, Communications & PR, Finance and Govemance which meet as necessary. A Chief Executive is appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority, within terms approved by the trustees, for operational matters including finance, employment and fundraising.

Related Parties

The charity has a wholly-owned subsidiary, Landaid Functions Limited which organises commercial fundraising events and transfers up to its full taxable profits to the charity.

The charity has a close working relationship with the British Property Federation (BPF) within whose offices its own office is situated. The BPF provides office space and support services for a small management fee and promotes the work of LandAid. The Chief Executive of the BPF is a trustee of the charity.

Risk Management

The Board of Trustees has a risk management strategy which comprises:

• an annual review of the risks the charity may face; • the establishment of systems and procedures to mitigate such risks as are identified; and • the implementation of procedures designed to minimise any potential impact on the charity should such

risks materialise.

The trustees have identified no major risks at the present time.

Grant Making Policy

The current policy of the Board ofTrustees is to support charities that provide opportunities (particularly through the provision offacilities, training and support) to the less advantaged, especially the young and homeless, to help them transform their lives. Support is given to major projects, the first of which is the 'Foundations/or Life' initiative, and under the Small Grants programme.

Written appl ications lor grant support are screened by the LandAid office to ensure that they fall within the stated criteria and are then reviewed by the Grants Committee. Shortlisted charities may be contacted or visited to assess the merits of their application prior to recommendations being put forward to the Board of Trustees.

Organisations receiving grant support are required to report on the progress of the project(s) being funded and to provide evidence of the impact the grant has made. Charities may be visited to confirm the val idity of these reports.

Reserves Policy

The directors are committed to ensuring that the company has sufficient reserves available both for operations to continue during any period of reduced income and to provide the cashflow required to meet the costs of major fundraising events where outgoings may precede income.

The current policy of the Board of Trustees is to maintain free reserves (being general unrestricted reserves less tangible fixed assets) of at least £ 150,000 as a contingency to cover core operating costs in unexpected circumstances. The current practice is to designate reserves above this level equivalent to the grants programme.

Page 4

Landaid Charitable Trust (Limited by Guarantee) TRUSTEES' REPORT (continued)

Public Benefit

We have refelTed to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

The principal focus of our work is to support the disadvantaged in society, particularly the young and homeless. This commitment was met through our continued support of the Foundations for Life programme and through LandAid's Small Grants programme which this year supported projects from six charities involved in addressing homelessness in the UK.

Reference and Administrative Details

Reference and administrative details are given on page I.

Provision of information to the auditors

The directors in office at the date ofapproval of this report confirm, as far as they are aware, that there is no relevant audit information ofwhich the auditors are unaware. Each of the directors has confirmed that they have taken all the steps that they ought to have taken as directors in order to make themselves aware ofany relevant audit information and to establish that it has been communicated to the auditors.

Auditors

A resolution to reappoint Baker Tilly UK Audit LLP, Chartered Accountants, as auditors will be put to the annual general meeting.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Repol1ing by Charities (issued in March 2005).

M Approved by the Board on .. 1{ .........~.~ .....2009 and signed on its behalf by:

Director ~..,.Jl. ~ (

Page 5

INCOMING RESOURCES

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LANDAID CHARfTABLE TRUST LIMITED

We have audited the financial statements on pages 8 to 19.

This report is made solely to the charitable company's members, as a body, in accordance with section 235 of the Companies Act 1985. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor'S report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of trustees and auditors The responsibilities of the trustees (who are also the directors of Landaid Charitable Trust Limited for the purposes of company law) [or preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) are set out in the Statement of Trustees' Responsibilities.

Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland).

We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Companies Act 1985, and whether in our opinion the information given in the Trustees' Report is consistent with the financial statements.

We also report to you if, in our opinion, the charity has not kept proper accounting records, if we have not received allthe information and explanations we require for our audit, or if information specified by law regarding trustees' remuneration and transactions with the charity and other members of the group is not disclosed.

We read the Trustees' Report and consider the implications for our report if we become aware of any apparent misstatements within it.

Basis of audit opinion We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgments made by the trustees in the preparation of the financial statements, and of whether the accounting pol icies are appropriate to the group and charitable company's circumstances, consistently applied and adequately disclosed.

We planned and performed our audit so as to obtain all information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements.

Opinion In our opinion

the tinancial statements give a true and fair view, in accordance with United Kingdom Generally Accepted Accounting Practice, of the state of affairs of the charitable company and group as at 3 I March 2009 and of the group's incoming resources and application of resources, including its income and expenditure, for the year then ended; the financial statements have been properly prepared in accordance with the Companies Act 1985; and the information given in the Trustees' Report is consistent with the financial statements.

CI'~\A~ cA-.. -, Bt-.K1::R TILLY UK AUDIT LLP ,"-"'S:J '-L-(Registered Auditor Chartered Accountants 1st Floor, 46 Clarendon Road Watford Herts WDl7 111

......~ ' 'R;) 2009

Page 7

2008

Landaid Charitable Trust Limited (Limited by Guarantee) GROUP BALANCE SHEET as at 3 I March 2009

Noles 2009 £ £

FIXED ASSETS

Tangible fixed assets 11 1,423 3,099

CURRENT ASSETS Debtors 12 169,765 304,839 Cash at bank and in hand 573,467 983,900

-

743,232 1,288,739 CURRENT LIABILITIES Creditors: amounts falling due within one year 13 (475,983 ) (856,220)

NET CURRENT ASSETS 267,249 432,519 -

TOTAL ASSETS LESS CURRENT LIABILITIES 268,672 435,618

RESTRICTED FUNDS 15 64,689

DESIGNATED FUNDS 16 1,812 123,617

GENERAL UNRESTRICTED FUNDS 266,860 247,312

TOTAL FUNDS 17 268,672 435,618

The accounts are prepared in accordance with the special provisions of part VII ofthe Companies Act 1985 relating

to small entities. (1.- ~_

Approved and authorised for issue by the Board of Directors on ., H r.. ~ 2009 and signed on its behalf by:

- Director

Page 9

--

--

Landaid Charitable Trust Limited (Limited by Guarantee) COMPANY BALANCE SHEET as at 31 March 2009

Notes 2009 2008 £ £

FIXED ASSETS Investmenls 10 2 2 Tangible fixed assets IJ 1,423 3,099

-

1,425 3,101

CURRENT ASSETS

Debtors 12 168,391 168,999 Cash at bank and in hand 460,224 677,971

628,615 846,970 CURRENT LIABILITIES Creditors: amounts falling due within one year 13 (361,368) (414,453)

NET CURRENT ASSETS 267,247 432,5 J 7

TOTAL ASSETS LESS CURRENT LIABILITIES 268,672 4]5,618

RESTRICTED FUNDS 15 64,689

DESIGNATED FUNDS 16 1,812 123,617

GENERAL UNRESTRICTED FUNDS 266,860 247,312

TOTAL FUNDS 17 268,672 435,618

The accounts are prepared in accordance with the special provisions ofpart VII of the Companies Act 1985 relating to small entities.

Approved and authorised for issue by the Board of Directors on l. \ !~ 2009 and signed on its behalf by:

- Director UU-a'--(

Page /0

Landaid Charitable Trust Limited (Limited by Guarantee) ACCOUNTING POLICIES For the year ended 31 March 2009

BASIS OF ACCOUNTING

The financial statements have been prepared under the historical cost convention and in accordance with the Companies Acts 1985 to 2006 and the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2005) issued in March 2005 and United Kingdom Generally Accepted Accounting Practice.

These financial statements consolidate the results of the charity and its wholly owned subsidiary Landaid Functions Limited on a line by line basis. A separate detailed SOFA is not presented for the charity itself following the exemptions afforded by paragraph 397 of SORP 2005.

INCOMING RESOURCES

Voluntary income including donations, gifts and legacies and grants that provide core funding or are of general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when:

• The donor specifies a time condition such that the grant or donation must only be expensed in future accounting periods; or

• The donor has imposed conditions which must be met before the charity has unconditional entitlement.

Income from commercial trading activities is recognised as earned (as the related goods and services are provided).

Income relating to events is recognised once the event has taken place.

Investment income is recognised on an accruals basis.

RESOURCES EXPENDED

Expenditure is recognised when a liability is incurred inclusive of VAT which cannot be recovered. Contractual arrangements are recognised as goods and services are supplied. Other grant payments are recognised when a constructive obligation arises. Expenditure is only deferred when an obligation for payment occurs in advance ofthe event to which it relates.

Expenditure is allocated and apportioned to the various categories of expenditure. Direct costs are allocated to each activity, as are costs that can be directly apportioned to each activity. Support costs are allocated on the basis of time spent on each activity.

Costs of generating funds are those costs incurred in attracting voluntary income and those incurred in fundraising activities.

Charitable activities include all expenditure related to the awarding of grants.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs.

TANGIBLE FIXED ASSETS

Indi vidual fixed assets, typically office furniture and IT equipment, are capital ised at cost, except that assets with an individual cost of less than £[,000 are expensed.

Tangible fixed assets are depreciated on a straight line basis at 25% per annum.

Page II

Landaid Charitable Trust Limited (Limited by Guarantee) ACCOUNTING POLICIES (continued) For the year ended 31 March 2009

FUNDS STRUCTURE

Restricted funds are separately recorded where a donor requires that a donation must be spent on a particular purpose or where funds have been raised for a specific purpose.

Designated funds represent monies set aside by the trustees out of unrestricted general funds for a specific purpose.

Unrestricted general funds may be used towards meeting the charitable objectives of the charity at the discretion of the trustees.

CASHFLOW STATEMENT

The entity has taken advantage of the exemption in Financial Reporting Standard' l' ofthe requirement to prepare a cash now statement on the grounds that it is a small company.

OPERATING LEASES

Rentals payable under operating leases are expensed on a straight line basis over the lease term.

TAXATION

The organisation is a registered charity and in consequence it is exempt from taxation on income arising from and expended on its charitable activities.

PENSIONS

Employees of the charity are entitled to join a defined contribution scheme. There were no outstanding contributions at the year end.

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Landaid Charitable Trust Limited (Limited by Guarantee) NOTES ON THE FINANCIAL STATEMENTS for the i:ear ended 31 March 2009

INCOME FROM SUBSIDIARY'S TRADING ACTIVITIES

The Charity owns the whole of the issued ordinary share capital of Landaid Functions Limited. The company is registered in England and covenants its taxable profits to the Charity by Gift Aid. The principal activity of the company is to organise charity fundraising events on behalfof its parent company.

A summary of Landaid Functions Limited's trading results are shown below:

Summary profit and loss accounts

2009 2008 £ £

Turnover 482,730 425,924 Cost of sales and administrative expenses (382,999) (353,937)

Net profit 99,731 71,987

Amount gifted to the Charity (99,731) (71,987)

Retained in subsidiary

2 VOLUNTARY INCOME Unrestricted Restricted funds funds 2009 2008

£ £ £ £ Donations 146,760 142,555 289,315 339,657

146,760 142,555 289,315 339,657

3 ACTIVITIES FOR GENERATING FUNDS Events - Landaid charity 93,848 93,848 69,953 Events - Landaid Functions 479,478 479,478 425,924

573,326 573,326 495,877

4 INVESTMENT INCOME 2009 2008 £ £

Bank interest 17,389 34,535

Page 13

Landaid Charitable Trust Limited (Limited by Guarantee) NOTES ON THE FINANCIAL STATEMENTS for the 2:::ear ended 3 I March 2009

5 COSTS OF GENERATING Unrestricted Restricted VOLUNTARY INCOME funds

£ funds

£ 2009

£ 2008

£ Direct jundraising costs Support costs 47,020

-- ­47,020 -- ­

41,374

47,020 -- ­ =

47,020 41.374

Fundraising events Direct costs - Landaid charity Direct costs - Landaid Functions SUPPOl1 costs

43,105 377,684 47.020 -- ­ -- ­

43,105 377,684

47,020

24,123 345,240

41,374

467,809 - 467,809 410,737 = = =

6 CHARITABLE ACTIVITIES Unrestricted Restricted funds funds 2009 2008

Grants Payable Grants

£ £ £ £

Centrepoint (Foundations for Life) Manali Project Booth Centre Canaan Trust Emmaus Hampshire Genesis Trust Haven House Project St Mungo's MaryJebone Project Focus

Support costs

183,256 5,008 5,124 8,200 8,000 5,000 5,500 8,000

(15,000) 47,021 -- ­

207,244

--- ­

390,500 5,008 5,124 8,200 8,000 5,000 5,500 8,000

-( 15,000) 47,021 -- ­

500,000 25,000

25,172

41,374

260,109 207,244 467,353 591,546 =

A repayment of £ 15,000 was received from Focus in respect of a project which did not proceed.

7 GOVERNANCE COSTS Unrestricted Restricted funds funds 2009 2008

Audit - Landaid charity - Landaid Functions

Accountancy - Landaid charity - Landaid Functions

Legal/professional - Landaid charity - Landaid Functions

Support costs

£ 9,446 4,105 3,132 1,090

-47,021 -- ­

£ --

--- ­

£ 9,446 4,105 3.132 1,090

47,021 -- ­

£ 9,987 4,000 4,667 3,050

356 4,070

41,374

64,794 64,794 67,504

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Landaid Charitable Trust Limited (Limited by Guarantee) NOTES ON THE FINANCIAL STATEMENTS for the ~ear ended 31 March 2009

8 SUPPORT COSTS

Wages, salaries and fees Telephone and website Miscellaneous Office supplies Rent Insurance Bank charges Software expense Depreciation

Unrestricted funds

£ 168,3 J3

4,113 1,739 1,685 5.844

718 472

3,522 1,676

Restricted funds

£ -

-----

--­

2009 £

168,313 4,113 1,739 1,685 5,844

718 472

3,522 1,676

2008 £

148,543 1,903 3,546 3,386 1,939

548 449

3,158 2,024

Allocated, on the basis of estimated time spent, to: Direct fundraising Fundraising events Charitable activities Govemance costs

188,082 =

47,020 47,020 47,021 47,021

=

-

188,082 =

47,020 47,020 47,021 47,021 -­

165,496

41,374 41,374 41,374 41,374 -­

188,082 = =

- 188,082 165,496

9 EMPLOYEES

The average monthly number of persons (including directors) employed by the company during the year was:

Office and management

2009 No.

3

2008 No.

3

-­

Staff costs for above persons: Wages and salaries Social security costs Other pension costs

2009 £

144.900 16,457 6,956

--­168,313

2008 £

93,721 10,269 4,686

108,676

-­

One employee had emoluments in excess of £60,000

Employees with emoluments between: £60,000 and £70,000 £70,000 and £80,000

The trustees were not paid or reimbursed expenses during the year. No trustee received any emolument or payment for any professional or other services.

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Landaid Charitable Trust Limited (Limited by Guarantee) NOTES ON THE FINANCIAL STATEMENTS for the 2:ear ended 31 March 2009

10 FIXED ASSET INVESTMENTS £

AI I April 2008 and 31 March 2009 2

The wholly-owned subsidiary, Landaid Functions Limited, is incorporated in the United Kingdom. The charity owns the entire issued share capital of 2 ordinary shares of £1 each.

II TANGIBLE FIXED ASSETS - GROUP AND Office COMPANY equipment

£

Cost At 1 April 2008 6,708 Additions Disposals

At 31 March 2009 6,708

Accumulated depreciation At I April 2008 3,609 Disposals Charge for year 1,676

At 3 J March 2009 5,285

Net book value At 31 March 2009 1,423

At 31 March 2008 3,099

12 DEBTORS-GROUP

2009 2008 £ £

Trade debtors 63,825 145,289 Other debtors 62,784 107,000 Prepayments and accrued income 43,156 52,550

169,765 304,839

-

DEBTORS-COMPANY

2009 2008 £ £

Other debtors 62,784 107,000 Due from subsidiary company 99,731 61,999 Prepayments and accrued income 5,876

168,391 168,999

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Landaid Charitable Trust Limited (Limited by Guarantee) NOTES ON THE FINANC1AL STATEMENTS for the ~ear ended 3 I March 2009

13 CREDITORS: Amounts falling due within one year - GROUP 2009 2008

£ £ Trade creditors 15,352 4,162 Other creditors - Grants payable 314,824 390,172 Taxation and social security 19,695 62,252 Accruals and deferred income 126,112 399,634

475,983 856,220

CREDITORS: Amounts falling due within one year - COMPANY 2009 2008

£ £ Trade creditors 15,352 126 Other creditors - Grants payable 314,824 390,172 Taxation and social security 5,580 4,071 Accruals and deferred income 25,612 20,084

361,368 414,453

14 CAPITAL AND RESERVES

The company is limited by guarantee and does not have share capital. Each member gives a guarantee to contribute a sum, not exceeding £ I, to the company should it be wound up. At 31 March 2009, there were 10 members (2008: 15).

No reconciliation of movements in shareholders' funds has been prepared as the company is limited by guarantee and therefore has no shareholders.

15 RESTRICTED FUNDS - GROUP AND COMPANY

The income funds of the charity include restricted funds comprising the following to be applied for specific purposes:

Movement in Funds At I April Incoming Expenditure Transfer At 31

2008 resources from general March unrestricted 2009

funds £ £ £ £ £

Foundations For Life 64,689 142,555 (207,244)

64,689 142,555 (207,244)

Foundations For Life is a fund in support ofa programme run by Centrepoint, which through the establ ishment of a number of Foundations For Life centres is providing facilities, training opportunities and expert support to young homeless people to help them transform their lives.

Page 17

Landaid Charitable Trust Limited (Limited by Guarantee) NOTES ON THE FINANCIAL STATEMENTS for the ~ear ended 31 March 2009

16 DESIGNATED FUNDS - GROUP AND COMPANY

The income funds of the charity include designated funds comprising the following to be applied for specif1c purposes:

Movement in Funds At I April Incoming Expenditure Transfer At 31

2008 resources from general March unrestricted 2009

funds £ £ £ £ £

Foundations For Life 119,470 (183,256) 65,598 1,812 Manali Fund 4,147 (5,008) 861 Small Grants Programme (39,824) 39,824

123,617 (228,088) 106,283 1,812

The current policy is to designate a proportion of unrestricted funds to the grants programme in support of Foundations For Life each year. A transfer of £65,598 was made in 2008-09.

The sum of up to £40,000 was similarly designated to the Small Grants Programme 2009 (comprising an amount of £25,000 from genera) funds and the repayment of £ 15,000 received from Focus which related to an earl ier project under the Small Grants Programme), with any unused balance to be returned to general funds. Grants totalling £39,824 were made during the year and the balance of £ 176 has been transferred back to unrestricted general funds.

Some further unrestricted donations were received with a request that consideration be given to providing support to the Manali project. The total of such funds received have been designated for this purpose and applied accordingly.

17 ANALYSIS OF NET ASSETS BETWEEN FUNDS - GROUP

Un restri cted Unrestricted General Designated Restricted

Funds Funds Funds Total £ £ £ £

Tangible fixed assets 1,423 1,423 Net current assets 265,437 1,812 267,249

Net assets at 3 I March 2009 266,860 1,812 268,672

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Landaid Charitable Trust Limited (Limited by Guarantee) NOTES ON THE FINANCIAL STATEMENTS for the xear ended 31 March 2009

18 ANALYSIS OF NET ASSETS BETWEEN FUNDS - COMPANY

Unrestricted Unrestricted General Designated Restricted

Funds Funds Funds Total £ £ £ £

Investments 2 2 Tangible fixed assets 1,423 1,423 Current assets 265,435 1,812 267,247

Net assets at 3 I March 2009 266,860 1,812 268,672

19 RELATED PARTIES

The charity has a wholly-owned subsidiary, Landaid Functions Limited, which was established to undertake commercial events. Landaid Functions Limited has the permission ofLandaid Charitable Trust Limited to operate in this way and will gift aid its profits to the charity. Landaid Functions Limited has net assets of £2.

The charity has a close working relationship with the British Property Federation (BPF) within whose offices its own office is situated. The BPF provides this office space and offers additional logistical and office services for a modest annual service charge of £5,000 and promotes the work of the charity. The Chief Executive of the BPF is a trustee of the charity.

Page 19