Charity number: 1016178
LIMOGES CHARITABLE TRUST
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
LIMOGES CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 19 |
| Appendix I - Grants payable | 19 - 22 |
LIMOGES CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2023
| Trustees | Judy Ann Dyke |
|---|---|
| Andrew Richard Milner | |
| Martin Hamilton Dyke | |
| Charity registered number 1016178 Principal office C/o Tyndallwoods Independent Examiners MHA Chartered Accountants & Statutory Auditors Rutland House 148 Edmund Street Birmingham B3 2FD Bankers TSB Bank Business Banking PO Box 1000 BX4 7SB Solicitors Tyndallwoods 29 Woodbourne Road Edgbaston Birmingham B17 8BY Investment Manager Quilter Cheviot Two Snowhill Birmingham B4 6GA |
Page 1
LIMOGES CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2023
The Trustees present their Annual Report together with the financial statements of the Charity for the year ended 5 April 2023.
Objectives and activities
Activities undertaken to achieve objectives
The principal activity of the Charity is to hold the Trust and the income therefrom on trust to pay or apply trust monies to or for such charitable objects in such manner and in such proportions as the Trustees shall from time to time determine.
In considering applications the Trustees are mindful of the guidance on Public Benefit published by the Charity Commission. The Trustees' intention in making any donation to an organisation is that the funds will be applied for the benefit of the public. There is no restriction on the applicants considered but there is a preference for institutions and charities operating locally.
Achievements and performance
Review of activities
During the year the Trustees agreed and granted 59 (2021: 60) donations totalling £91,231 (2021: £375,354). Details are given regarding grant payments made in note 6 to the financial statements.
The Trustees continue to grant new donations in line with the objects of the Charity. The ability of the Trust to make these donations is dependent on the performance of the investment portfolio which is kept under regular review.
Financial review
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Reserves policy
Unrestricted funds are needed:
-
a) to provide funds for donations and grants; and
-
b) to cover administration costs without which the Charity could not function.
The Trustees consider it prudent that unrestricted reserves should:
- a) include sufficient cash to cover donations, grants and support costs; and b) avoid the necessity of realising investments held for the Charity's use.
The level of reserves is monitored and reviewed by the Trustees on a regular basis. The unrestricted funds stand at £446,457 (2022: £606,495) including the investment portfolio. The Trustees consider this to be sufficient to meet the objectives above.
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LIMOGES CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
Material investments policy
The objectives are:-
a) to maintain adequate liquidity; and b) to maintain the security of any investments.
Risk management
The Trustees believe that the Charity is not exposed to significant external risk. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the Charity. These procedures are periodically reviewed to ensure that they still meet the needs of the Charity.
Performance
Investment income generated from the investment portfolio increased on the previous year from £41,308 to £66,865. The total income for the year was £67,365 compared to £44,308 in the previous year.
Total expenditure for the year, including the donations referred to above totalled £135,832 (2022: £421,437) resulting in a net deficit for the year, before gains/losses on the revaluation of investments, of £68,967 (2022: £377,129).
The funds at the year end, represented primarily by investments, stood at £1,837,078 (2022: £2,094,387) of which £1,390,621 (2022: £1,487,892) is restricted.
Structure, governance and management
Constitution
Limoges Charitable Trust is a charitable trust established on 5 August 1991 and registered as a charity on 11 January 1993.
The Charity was established under a Deed of Trust that established the objects and powers of the Trust.
Methods of appointment or election of Trustees
New Trustees are appointed in accordance with the Deed of Trust. The current Trustees are shown on page 1.
Organisational structure and decision-making policies
The Charity is an unincorporated body registered with the Charity Commission. Regular Trustee meetings review requests for grants and donations, decisions are made for expending trust monies and to review the Trust's investments and their performance.
Related party relationships
As detailed in note 15, all of the Trustees hold senior positions with advisors to the Charity as permitted by the constitution. Any benefit they derive from the Trust is purely incidental to their work.
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LIMOGES CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
Plans for future periods
The Trustees intend for future periods to continue the principal activity of the Charity namely to hold the trust and the income therefrom on trust to pay or apply trust monies to or such charitable objects in such manner and in such proportions as the Trustees shall from time to time determine.
Informed by past experience the Trustees might expect to receive additional capital amounts to be dealt with as above.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Independent Examiners
Following a rebranding exercise on 15 May 2023, the trading name of the Charitable Company’s independent examiners changed from MHA MacIntyre Hudson to MHA. A resolution to reappoint MHA as independent examiners will be proposed at the next Annual General Meeting.
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LIMOGES CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
Approved by order of the members of the Board of Trustees and signed on their behalf by:
................................................ Judy Ann Dyke Trustee
................................................ Andrew Richard Milner Trustee
................................................ Martin Hamilton Dyke Trustee
............................................... Martin Hamilton Dyke Trustee
Date: 8 January 2024
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LIMOGES CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2023
Independent Examiner's Report to the Trustees of Limoges Charitable Trust ('the Charity')
I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2023.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 2011 Act; or
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the accounts do not accord with those records; or
-
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.
I 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Elizabeth Newell BA (Hons) FCA
MHA
Chartered Accountants & Statutory Auditors Birmingham, United Kingdom
Date: 11 January 2024
MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313).
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LIMOGES CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Raising funds 5 Charitable activities 7 Total expenditure Net income/(expenditure) before net (losses)/gains on investments Net (losses)/gains on investments 9 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward 13 |
Restricted funds 2023 £ 500 48,987 49,487 509 9,000 9,509 39,978 (137,249) (97,271) 1,487,892 (97,271) 1,390,621 |
Unrestricted funds 2023 £ - 17,878 17,878 49 126,274 126,323 (108,445) (51,593) (160,038) 606,495 (160,038) 446,457 |
Total funds 2023 £ 500 66,865 67,365 558 135,274 135,832 (68,467) (188,842) (257,309) 2,094,387 (257,309) 1,837,078 |
Total funds 2022 £ 3,000 41,308 44,308 4,076 417,361 421,437 (377,129) 76,151 (300,978) 2,395,365 (300,978) 2,094,387 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 19 form part of these financial statements.
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LIMOGES CHARITABLE TRUST
BALANCE SHEET AS AT 5 APRIL 2023
| Note Fixed assets Investments 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current liabilities / assets Creditors: amounts falling due after more than one year 12 Total net assets Charity funds Restricted funds 13 Unrestricted funds 13 Total funds |
56,151 19,174 75,325 (106,470) |
2023 £ 1,956,557 1,956,557 (31,145) (88,334) 1,837,078 1,390,621 446,457 1,837,078 |
122,501 44,488 166,989 (127,301) |
2022 £ 2,228,866 2,228,866 39,688 (174,167) 2,094,387 1,487,892 606,495 2,094,387 |
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ Judy Ann Dyke Trustee
................................................ Andrew Richard Milner Trustee
................................................ Martin Hamilton Dyke Trustee
Date: 8 January 2024
The notes on pages 9 to 19 form part of these financial statements.
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LIMOGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
1. General information
Limoges Charitable Trust is an unincorporated Charity registered with the Charity Commission in England and Wales. The Charity's registered number is 1016178. Its principal address is Tyndallwoods, 29 Woodbourne Road, Edgbaston, Birmingham, B17 8BY.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Limoges Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in British Pound Sterling (£), which is the functional and presentational currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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LIMOGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
2. Accounting policies (continued)
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include governance costs and other costs incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.
Expenditure on raising funds are costs associated with the management of investments.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.
2.5 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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LIMOGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
2. Accounting policies (continued)
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation.
2.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
2.11 Critical accounting estimates and judgements
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities wihtin the next financial year are the valuation of investments.
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LIMOGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
3. Income from donations and legacies
| Donations Total 2022 |
Restricted funds 2023 Unrestricted funds 2023 £ £ 500 - - 3,000 |
Total funds 2023 £ 500 3,000 |
Total funds 2022 £ 3,000 |
|---|---|---|---|
4. Investment income
| Dividends - UK equities Dividends - foreign equities Bank interest Total 2022 |
Restricted funds 2023 Unrestricted funds 2023 £ £ 48,226 17,830 - - 761 48 48,987 17,878 25,373 15,935 |
Total funds 2023 £ 66,056 - 809 66,865 41,308 |
Total funds 2022 £ 38,725 2,583 - |
|---|---|---|---|
| 41,308 | |||
5. Investment management costs
| Investment management fees Total 2022 |
Restricted funds 2023 Unrestricted funds 2023 £ £ 509 49 1,587 2,489 |
Total funds 2023 £ 558 4,076 |
Total funds 2022 £ 4,076 |
|---|---|---|---|
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LIMOGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
6. Analysis of grants
| Grants Total 2022 |
Grants to Institutions 2023 £ 91,231 375,354 |
Total funds 2023 £ 91,231 375,354 |
Total funds 2022 £ 375,354 |
|---|---|---|---|
Details of the grants made can be found on the attached appendix.
7. Analysis of expenditure by activities
| Charitable activities Total 2022 |
Grant funding of activities 2023 £ 91,231 375,354 |
Support costs 2023 £ 44,043 42,007 |
Total funds 2023 £ 135,274 417,361 |
Total funds 2022 £ 417,361 |
|---|---|---|---|---|
Analysis of support costs
| Tyndallwoods fees Accountancy fees Audit fees Bank charges Independent examination fees |
Activities 2023 £ 31,922 4,878 - 43 7,200 44,043 |
Total funds 2023 £ 31,922 4,878 - 43 7,200 44,043 |
Total funds 2022 £ 28,565 7,442 6,000 - - |
|---|---|---|---|
| 42,007 |
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LIMOGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
8. Staff costs
The Charity has no employees.
No employee received remuneration amounting to more than £60,000 in either year.
9. Fixed asset investments
| Cost or valuation At 6 April 2022 Additions Disposals Revaluations At 5 April 2023 |
Listed investments £ 2,228,866 20,772 (104,177) (188,904) |
|---|---|
| 1,956,557 |
10. Debtors
| Due within one year Amounts held by investment manager |
2023 £ 56,151 56,151 |
2022 £ 122,501 |
|---|---|---|
| 122,501 |
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LIMOGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
| 11. Creditors: Amounts falling due within one year Accruals and deferred income Grants accrued - institutional 12. Creditors: Amounts falling due after more than one year Accrued grants payable to institutions |
2023 £ 16,637 89,833 106,470 2023 £ 88,334 |
2022 £ 18,118 109,183 |
|---|---|---|
| 127,301 | ||
| 2022 £ 174,167 |
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LIMOGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
13. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Restricted funds CT Restricted Fund LPDK Restricted Fund SWG Restricted Fund EMI Restricted Fund Jane & Peter How Charitable Trust Total of funds |
Balance at 6 April 2022 £ 606,495 228,511 8,008 207,856 1,043,517 - 1,487,892 2,094,387 |
Income £ 17,878 6,656 - 5,801 36,530 500 49,487 67,365 |
Expenditure £ (126,323) (3,026) - (99) (6,384) - (9,509) (135,832) |
Gains/ (losses) £ (51,593) (18,806) - (15,885) (102,558) - (137,249) (188,842) |
Balance at 5 April 2023 £ 446,457 |
|---|---|---|---|---|---|
| 213,335 8,008 197,673 971,105 500 |
|||||
| 1,390,621 | |||||
| 1,837,078 |
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LIMOGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
13. Statement of funds (continued)
Restricted funds
Restricted funds are held by the Charity at the absolute discretion of the Trustees who are mindful however of any expressed wishes of the named donor thus the separation into named Restricted Funds as follows:
CT Restricted Fund
These funds have been left to enable the Charity to make grants towards the care or recovery of "persons suffering from various forms of irrational behaviour, treatment not only to address substance abuse and alcohol dependency, but also other psychological issues such as anxiety, post traumatic stress disorder, depression and eating disorders among others." It is also indicated that particular account should be given to any applications that relate to the use of sport for such purpose.
LPDK Restricted Fund
These funds have been left to the Charity to support the West Midlands Police Benevolent Fund in consultation with their Treasurer.
SWG Restricted Fund
These funds have been left to the Charity with the request that the Trustees bear in mind the wish that such funds be used to benefit Hollytrees Animal Rescue Trust, Cramar Cat Rescue and the Alzheimer's Society.
EMI Restricted Fund
Guidelines to the Trustees are that the fund be paid:
-
for the benefit of "the deaf" to explore the possibility of funding a post for an individual to maintain and supervise hearing aids for the elderley in residential or nursing homes;
-
to the Psychiatry Trust Camberwell;
-
to the Department of Psychiatry University of Birmingham; and
-
to Queens University of Belfast to support their work in relation to mental health.
Jane & Peter How Charitable Trust
These funds are to be used to make grants to companies, bodies or Trusts established for charitable purposes at the discretion of the Trustees based on the charities that Jane & Peter How supported during their lifetimes. These would include but are not limited to local charities benefitting would-be nurses and charities with emphasis on local communities, music, young people and the disadvantaged.
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LIMOGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
13. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General Funds Restricted funds CT Restricted Fund LPDK Restricted Fund SWG Restricted Fund EMI Restricted Fund Jane & Peter How Charitable Trust Total of funds |
Balance at 1 April 2021 £ 725,817 218,867 8,008 194,036 1,248,637 - 1,669,548 2,395,365 |
Income £ 18,935 4,173 - 4,516 16,684 - 25,373 44,308 |
Expenditure £ (171,850) (4,751) - (156) (244,680) - (249,587) (421,437) |
Gains/ (losses) £ 33,593 10,222 - 9,460 22,876 - 42,558 76,151 |
Balance at 5 April 2022 £ 606,495 |
|---|---|---|---|---|---|
| 228,511 8,008 207,856 1,043,517 - |
|||||
| 1,487,892 | |||||
| 2,094,387 |
14. Analysis of net assets between funds Analysis of net assets between funds - current year
| Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year Total 2023 |
Restricted funds 2023 Unrestricted funds 2023 £ £ 1,484,019 472,538 73,269 2,056 (83,333) (23,137) (83,334) (5,000) 1,390,621 446,457 |
Total funds 2023 £ 1,956,557 75,325 (106,470) (88,334) |
|---|---|---|
| 1,837,078 |
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LIMOGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
14. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year Total 2022 |
Restricted funds 2022 £ 1,600,559 131,540 (81,540) (162,667) 1,487,892 |
Unrestricted funds 2022 £ 628,307 35,449 (45,761) (11,500) 606,495 |
Total funds 2022 £ 2,228,866 166,989 (127,301) (174,167) 2,094,387 |
|---|---|---|---|
15. Related party transactions
During the year Tyndallwoods, a firm in which two of the Trustees are directors, received fees of £31,922 (2022: £28,565) for management of the Trust; and Quilter Cheviot, of which another Trustee is a director, received investment management fees of £558 (2022: £4,076). These payments are permitted by the Trust Deed.
Trustees do not receive expenses, remuneration or benefits in kind other than those listed above.
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