**REGISTERED CHARITY NUMBER: 1025779**
## **REPORT OF THE TRUSTEES AND**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **FOR**
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
Berringers LLP Chartered Accountants and Statutory Auditors Lygon House 50 London Road Bromley Kent BR1 3RA
**LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2021**
|||**Page**||
|---|---|---|---|
|**Reference and administrative details**||1||
|**Report of the trustees**|2|to|5|
|**Report of the independent auditors**|6|to|8|
|**Statement of financial activities**||9||
|**Balance sheet**||10||
|**Notes to the financial statements**|11|to|17|
|**Detailed statement of financial activities**|18|to|19|
**LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
**REFERENCE AND ADMINISTRATIVE DETAILS for the year ended 31 March 2021**
|**TRUSTEES**|Father Steve Hall Ex-officio|
|---|---|
||Mr Roy Brown Co-opted|
||Mr Alan Till Nominated (Chair)|
||Mrs Gloria Phillips MBE Nominated (deceased 31.5.21)|
||Mrs Stella Jeffrey Nominated|
||Mrs Omega Jackson Co-opted|
||Ms Julia Pring Co-opted (Vice Chair) (resigned 1.10.21)|
||Mr Julian Watson Co-opted|
||Ms Jennifer Henry Ex-officio|
||Ms Joan Mackenzie Ex-officio|
|**PRINCIPAL ADDRESS**|Lloyd Court|
||Slagrove Place|
||London|
||SE13 7LP|
|**REGISTERED CHARITY**|1025779|
|**NUMBER**||
|**INDEPENDENT AUDITORS**|Berringers LLP|
||Chartered Accountants|
||and Statutory Auditors|
||Lygon House|
||50 London Road|
||Bromley|
||Kent|
||BR1 3RA|
|**CLERK**|Ms Joy Segan|
Page 1
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **REPORT OF THE TRUSTEES for the year ended 31 March 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. 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 object of the charity is the relief of need, hardship or distress of persons resident in the Ancient Parish of Lewisham by means of grants or provision of services. Since 1994 this has included the provision of an almshouse providing sheltered accommodation for the elderly as indicated above.
At each Board meeting the Trustees consider matters arising from the administration of the almshouse and the awarding of grants. It is the Trustees clear intention to maintain the property in first class condition and to provide a safe and attractive home for the elderly residents. To this end the Trustees regularly consider improvements that could be made to the almshouses and ensure that regular repair and maintenance is carried out as required.
During the year the Trustees held three general meetings, including an AGM. The Finance and General Purposes Committee met on four occasions.
## **Summary of activities undertaken for the public benefit in relation to these objectives**
The Trustees appoint residents for Lloyd Court. As a result of the pandemic and the lockdown from March 2020, all of the usual social activities were suspended to comply with the government social distancing rules. The charity took steps to ensure the safety of all residents by undertaking regular cleaning of communal areas.
Social events could not take place and residents were encouraged to comply with government guidelines. Family visits were curtailed as advised by the government. As a result the annual trustees visitations were cancelled but residents were offered the possibility of a phone call with a trustee should they wish.
During the course of the year sadly one resident passed away and a married couple jointly moved into a previously vacant flat.. The newly vacant flat will be decorated ready for the appointment of new residents.
The Trustees continued to carry out relevant refurbishments to each flat as they became vacant depending on the condition of the flat concerned. To bring the flats up to modern decoration standards, the charity will continue to implement a rolling programme agreed to upgrade the kitchens and bathrooms as each flat becomes vacant.
The Charity is also able to make small grants to persons in need living in the Ancient Parish of Lewisham. Following the agreement of the new financial approval limits (namely Finance and Administration Manager to £500, Chair's Emergency Action up to £3,000 and Finance and General Purposes Committee up to £5,000) grant requests are first considered at each Finance and General Purposes Committee meeting and advised for final approval at the following general meeting. During the year 2020/21 grants totalling £8,753 were awarded to and benefited a number of individuals and local groups. Also small Christmas gifts of £25 were awarded to 8 individuals recommended by local churches.
## Lee Charity of William Hatcliffe
The Trustees received a number of request for grants that were outside the ancient parish of Lewisham. A number were within the jurisdiction of Lee Charity of William Hatcliffe, who reviewed these and transferred monies to Lewisham Relief in Need to pay out the grants to a total of £16,846. These are not considered part of the charity's activity and are not included in the grants awarded by the trustees.
Page 2
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **REPORT OF THE TRUSTEES for the year ended 31 March 2021**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The Relief in Need Charity is responsible for a commercial property, 295/297 Lewisham High Street, which was originally bequeathed to the Vicar and churchwardens of St Mary the Virgin, Lewisham, under the will of Humphrey Streete in 1626. It passed to the Lewisham Parochial Charities late in the 19th century. At the beginning of the financial year, the charity's long term tenant Hire Service Shops requested a rent concession due to loss of business resulting from the pandemic. The charity granted a rent concession of four months and HSS finally gave a termination notice to the charity in October 2020. The property was vacated in January 2021. A new property agent Linays Commercial was appointed to market the shop on the ground floor with a view to securing a new tenant. Once the charity was able to inspect the property, the potential of refurbishing the upper floors for residential use became apparent. Trustees appointed a firm of architects, a3arc Ltd to work with the Finance & Administration Manager develop proposal drawings for three good size residential dwellings on the upper floors.
## **Investment performance**
It is the Trustees policy to maximise the total return on investments whilst holding them in suitable accounts and relating their purpose.
Unrealised gains of £68,284 (2020 losses £20,658) on investments in the year was considered by the trustees to be satisfactory.
## **FINANCIAL REVIEW**
## **Reserves policy**
The Trustees' Financial Policies and Procedures document includes the following statement relating to the reserves policy:-
"It is the Trustees' policy to provide reserves in accordance with guidance from the Almshouse Association. These currently include the building maintenance funds (see below) and free reserves (i.e. excluding monies tied up in fixed assets or endowment funds) sufficient to cover 6 months running costs. This would enable the Charities to continue to function should there be a sudden drop or loss of income.
Building Maintenance Funds - An extraordinary repair fund is to be maintained for infrequent or major repairs such as roof repairs or re-pointing and major long term improvements. A cyclical maintenance fund is also maintained to cover the cost of items such as internal and external redecorations. Annual contributions are to be made to these funds in accordance with guidelines issued by the Almshouse association."
The Charity's incoming resources for the year were £157,978 (2020 - £159,491). Expenditure directly related to the objects of the charity during the year was £99,187 (2020 - £110,744) and that related to administration and governance was £13,514 (2020 - £9,285). The majority of this relates to the operation of Lloyd Court. A total of £40,000 was transferred to designated funds in accordance with the Trustees' reserve policy in 2012/13. Unrealised gain on investments and an investment property amounted to £18,457 (2020 loss £2,241) on unrestricted funds and £49,827 (2020 loss £18,417) on endowment funds.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Charity is managed by the Board of Trustees as part of the Lewisham Parochial Charities. The original charities were formed some 200 years ago providing funds for education, health and poor relief services in the ancient parish of Lewisham.
On 11th October 1990 the Charity Commissioners approved a scheme (Ref 218,260 A/12) which grouped the 27 remaining charities into four new charities which are again confined to benefit people living in the ancient parish of Lewisham. The Lewisham Relief in Need Charity is one of these Charities.
The Charity Commissioners have approved an amendment to the scheme of 1990 to enable the Relief in Need Charity to build almshouses at Ladywell (known as Lloyd Court) (Ref 1,025,779 A/1 dated 2nd December 1994).
Page 3
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **REPORT OF THE TRUSTEES for the year ended 31 March 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of new trustees**
The Trustees number up to sixteen in total of whom three are ex-officio (the vicar and churchwardens of St Mary the Virgin, Lewisham), eight are nominated by the Council of the London Borough of Lewisham and five co-opted from persons who through residence, occupation, employment or otherwise have special knowledge of the area of benefit.
Currently, the London Borough of Lewisham have only nominated 3 out of their 8 allotted Trustees.
The Trustees receive no remuneration and, in the year under review, did not claim any expenses.
## **Organisational structure**
The day to day running of the almshouse is carried out by Finance and Administration Manager. The Clerk's office, serving both the Lewisham Parochial Charities and the Lewisham Almshouse Charities of William Hatcliffe and Abraham Colfe, is based in Lloyd Court. The Trustees pay a proportion of the Clerk's salary and contribute towards the costs of running the office.
The Lewisham Relief in Need charity pays a 65% proportion of the House Manager's salary due to her work at the Lloyd Court almshouse. The Lewisham Relief in Need charity also pays a proportion of the salaries of the part-time Premises Manager, Mr P Clark (this role also provides cover for the residents when the House Manager is absent). All staff report to the Finance and Administration Manager.
## **Reporting serious incidents**
The Trustees confirm that by signing below they have declared that there were no serious incidents or other matters relating to this charity over the financial year 2020/21 that should have been brought to the attention of the Charity Commission but that have not.
They also confirm that in line with the Vetting and Barring Scheme, launched in October 2009, all staff and Trustees are subject to DBS checks.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees are responsible for preparing the Report of the trustees 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 and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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.
Page 4
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **REPORT OF THE TRUSTEES for the year ended 31 March 2021**
Approved by order of the board of trustees on 26 October 2021 and signed on its behalf by:
Mr Alan Till - Trustee
Page 5
## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **Opinion**
We have audited the financial statements of Lewisham Parochial Charities Lewisham Relief In Need (the 'charity') for the year ended 31 March 2021 which comprise the Statement of financial activities, the Balance sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31 March 2021 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual report, other than the financial statements and our Report of the independent auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Report of the trustees is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
Page 6
## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **Responsibilities of trustees**
As explained more fully in the Statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the independent auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and error, we considered the following:
- the nature of the industry, control environment and business performance;
- results of our enquiries to management about their own assessment of the risks of fraud and error;
- the matters discussed among the audit engagement team regarding how and where fraud may occur in the financial statements and any potential indicators of fraud.
Our procedures to respond to risk include the following:
- reviewing the financial statement disclosures and testing to supporting documentation;
- performing analytical procedures to identify any unusual or unexpected areas that may indicate risks of material misstatement due to fraud or error;
- addressing the risk of fraud and error through management override of controls, testing the appropriateness of journals, assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 7
## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **Use of our report**
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. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Berringers LLP Chartered Accountants and Statutory Auditors Lygon House 50 London Road Bromley Kent BR1 3RA
26 October 2021
Page 8
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2021**
|Notes
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Almshouse maintenance
Other trading activities
2
Investment income
3
**Total**
**EXPENDITURE ON**
**Charitable activities**
Almshouse maintenance
Grants & gifts made
Other
**Total**
Net gains/(losses) on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
**5,000**
**127,950**
**25,028**
**157,978**
**90,434**
**8,753**
**13,514**
**112,701**
**18,457**
**63,734**
**1,297,412**
**1,361,146**|Endowment
fund
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**49,827**
**49,827**
**231,031**
**280,858**|**2021**
**Total**
**funds**
**£**
**5,000**
**127,950**
**25,028**
**157,978**
**90,434**
**8,753**
**13,514**
**112,701**
**68,284**
**113,561**
**1,528,443**
**1,642,004**|2020
Total
funds
£
-
126,614
32,877
159,491
102,706
8,038
9,285
120,029
(20,658)
18,804
1,509,639
1,528,443|
|---|---|---|---|---|
The notes form part of these financial statements
Page 9
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **BALANCE SHEET 31 March 2021**
|Notes
**FIXED ASSETS**
Tangible assets
7
**Investments**
Investments
8
Investment property
9
**CURRENT ASSETS**
Debtors
10
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
12
Unrestricted funds
Endowment funds
**TOTAL FUNDS**|Unrestricted
funds
£
**257,171**
**103,674**
**700,000**
**1,060,845**
**21,499**
**318,984**
**340,483**
**(40,182)**
**300,301**
**1,361,146**
**1,361,146**|Endowment
fund
£
**-**
**280,858**
**-**
**280,858**
**-**
**-**
**-**
**-**
**-**
**280,858**
**280,858**|**2021**
**Total**
**funds**
**£**
**257,171**
**384,532**
**700,000**
**1,341,703**
**21,499**
**318,984**
**340,483**
**(40,182)**
**300,301**
**1,642,004**
**1,642,004**
**1,361,146**
**280,858**
**1,642,004**|2020
Total
funds
£
257,375
314,384
700,000
1,271,759
11,365
281,500
292,865
(36,181)
256,684
1,528,443
1,528,443
1,297,412
231,031
1,528,443|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 26 October 2021 and were signed on its behalf by:
Mr Alan Till - Trustee
The notes form part of these financial statements
Page 10
**LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **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.
Freehold property - Straight line over 10 years Fixtures and fittings - 20% on cost
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of financial activities.
## **Taxation**
The charity is exempt from 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.
Endowment funds represents assets which must be held permanently by the charity by way of investments. Income arising on the endowment fun can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 11
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021**
## **2. OTHER TRADING ACTIVITIES**
|Almshouse maintenance contributions
Washing machines income
**3.**
**INVESTMENT INCOME**
Rents received
Investment income
Deposit account interest|**2021**
**£**
**126,916**
**1,034**
**127,950**
**2021**
**£**
**14,799**
**10,073**
**156**
**25,028**|2020
£
125,314
1,300|2020
£
125,314
1,300|
|---|---|---|---|
|||126,614||
||||2020
£
22,000
9,908
969|
||||32,877|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **5. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Warden & House Manager
Premises manager
Cleaning
Finance & administration manager|**2021**
**1**
**1**
**1**
**1**
**4**|2020
1
1
1
1|
|---|---|---|
|||4|
No employees received emoluments in excess of £60,000.
continued...
Page 12
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021**
|**6.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL**
**INCOME AND ENDOWMENTS FROM**
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Almshouse maintenance
Grants & gifts made
Other
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**ACTIVITIES**
Unrestricted
funds
£
126,614
32,877
159,491
102,706
8,038
9,285
120,029
(2,241)
37,221
1,260,191
1,297,412|Endowment
fund
£
-
-
-
-
-
-
-
(18,417)
(18,417)
249,448
231,031|Total
funds
£
126,614
32,877
159,491
102,706
8,038
9,285
120,029
(20,658)
18,804
1,509,639
1,528,443|
|---|---|---|---|
continued...
Page 13
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021**
## **7. TANGIBLE FIXED ASSETS**
|**Fixtures &**|**Fixtures &**|**Fixtures &**||
|---|---|---|---|
|**Almshouse**
**Fittings**|||**Total**|
||**£**
**£**||**£**|
|**COST**||||
|At 1 April 2019 and 31 March 2020|1,146,855
20,686||1,167,541|
|||||
|**DEPRECIATION**||||
|At 1 April 2018|4,080
20,686||24,766|
|Charge for year|204|-|204|
|||||
|At 31 March 2020|4,284
20,686||4,5970|
|||||
|**NET BOOK VALUE**||||
|Before grant reduction|1,142,571|-|1,142,571|
|Less: Social Housing Grant|885,196|-|885,196|
|||||
|At 31 March 2020|257,375|-|57,5375|
|||||
|||||
|At 31 March 2019|257,579|-|257,375|
|||||
The Social Housing Grant was paid by the Housing Corporation to reduce the cost of development. The Housing Grant is repayable under certain circumstances, primarily following the sale of a property but will normally be restricted to net proceeds of sale.
## **8. FIXED ASSET INVESTMENTS**
|**FIXED ASSET INVESTMENTS**||
|---|---|
||Listed|
||investments|
||£|
|**MARKET VALUE**||
|At 1 April 2020|**314,384**|
|Additions|**1,864**|
|Revaluations|**68,284**|
|At 31 March 2021|**384,532**|
|**NET BOOK VALUE**||
|At 31 March 2021|**384,532**|
|At 31 March 2020|314,384|
There were no investment assets outside the UK.
continued...
Page 14
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021**
## **9. INVESTMENT PROPERTY**
## **£**
|**INVESTMENT PROPERTY**|**£**|
|---|---|
|**FAIR VALUE**
At 1 April 2020
and 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020|**700,000**|
||**700,000**|
||700,000|
The Commercial Property, in the opinion of the Trustees value is £700,000 at the end of the financial period.
## **10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Prepayments
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Lewisham General Trust
Lewisham Education Charity
Accrued expenses|**2021**
**£**
**21,499**
**2021**
**£**
**8,651**
**2,305**
**29,226**
**40,182**|2020
£
11,365|
|---|---|---|
|||2020
£
7,523
1,780
26,878|
|||36,181|
## **11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
## **12. MOVEMENT IN FUNDS**
|**MOVEMENT IN FUNDS**|||||
|---|---|---|---|---|
|**Unrestricted funds**
General fund
Routine maintenance
Cyclical maintenance
Extraordinary repairs
Charity fund property
Lift
Property fund
Depreciation fixtures & fittings
**Endowment funds**
Endowment fund
**TOTAL FUNDS**|At 1.4.20
£
**82,986**
**84,416**
**41,926**
**76,955**
**257,376**
**33,068**
**700,000**
**20,685**
**1,297,412**
**231,031**
**1,528,443**|Net
movement
in funds
£
**69,702**
**-**
**(4,813)**
**(1,155)**
**-**
**-**
**-**
**-**
**63,734**
**49,827**
**113,561**|Transfers
between
funds
£
**(39,796)**
**10,000**
**15,000**
**10,000**
**(204)**
**5,000**
**-**
**-**
**-**
**-**
**-**|At
31.3.21
£
**112,892**
**94,416**
**52,113**
**85,800**
**257,172**
**38,068**
**700,000**
**20,685**|
|||||**1,361,146**
**280,858**|
|||||**1,642,004**|
Page 15
continued...
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021**
## **12. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|**157,978**|**(106,733)**|**18,457**|**69,702**|
|Cyclical maintenance|**-**|**(4,813)**|**-**|**(4,813)**|
|Extraordinary repairs|**-**|**(1,155)**|**-**|**(1,155)**|
||**157,978**|**(112,701)**|**18,457**|**63,734**|
|**Endowment funds**|||||
|Endowment fund|**-**|**-**|**49,827**|**49,827**|
|**TOTAL FUNDS**|**157,978**|**(112,701)**|**68,284**|**113,561**|
|**Comparatives for movement in funds**|||||
|||Net|Transfers||
|||movement|between|At|
||At 1.4.19|in funds|funds|31.3.20|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|66,870|55,912|(39,796)|82,986|
|Routine maintenance|74,416|-|10,000|84,416|
|Cyclical maintenance|40,879|(13,953)|15,000|41,926|
|Extraordinary repairs|71,693|(4,738)|10,000|76,955|
|Charity fund property|257,580|-|(204)|257,376|
|Lift|28,068|-|5,000|33,068|
|Property fund|700,000|-|-|700,000|
|Depreciation fixtures & fittings|20,685|-|-|20,685|
||1,260,191|37,221|-|1,297,412|
|**Endowment funds**|||||
|Endowment fund|249,448|(18,417)|-|231,031|
|**TOTAL FUNDS**|1,509,639|18,804|-|1,528,443|
Page 16
continued...
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021**
## **12. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Cyclical maintenance
Extraordinary repairs
**Endowment funds**
Endowment fund
**TOTAL FUNDS**|Incoming
resources
£
159,491
-
-
159,491
-
159,491|Resources
expended
£
(101,338)
(13,953)
(4,738)
(120,029)
-
(120,029)|Gains and
Movement
losses
in funds
£
£
(2,241)
55,912
-
(13,953)
-
(4,738)
(2,241)
37,221
(18,417)
(18,417)
(20,658)
18,804|
|---|---|---|---|
The Trustees deem it prudent to designate funds.
## **Routine maintenance**
This fund is maintained to cover the routine maintenance of the almshouse during the year.
## **Cyclical maintenance**
The fund is retained by the trustees to meet maintenance costs arising at regular intervals, e.g. internal and external redecoration and the cost of professional fees in respect of quinquennial inspections.
## **Extraordinary repairs**
This fund is for future improvements and major works. Provision is made in accordance with the recommendations of the Almshouse Association and the fund may be drawn upon without prior consent of the Charity Commissioners.
## **Charity fund property reserve**
This represents that proportion of the cost of properties and improvements which were financed from the Charity's own resources.
## **Lift**
This fund is retained by the trustees to meet the maintenance and replacement of the lift.
## **Property fund**
This fund represents the value of the investment property.
## **Depreciation fund**
This fund is maintained to replace fixtures & fittings that have been depreciated.
## **13. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2021.
Page 17
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2021**
|**INCOME AND ENDOWMENTS**
**Other trading activities**
Almshouse maintenance contributions
Washing machines income
**Investment income**
Rents received
Investment income
Deposit account interest
**Charitable activities**
Grants
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Staff costs
Rates and water
Insurance
Light and heat
Telephone
Cleaning
Linkline alarm system
General repairs
Refurbishment
Lift
Garden
Extraordinary repairs
Grants to individuals
**Support costs**
**Other**
Postage and stationery
Sundries
Subscriptions
Accountancy
Freehold property|2021
£
**126,916**
**1,034**
**127,950**
**14,799**
**10,073**
**156**
**25,028**
**5,000**
**157,978**
**41,171**
**722**
**3,069**
**17,422**
**1,403**
**774**
**6,791**
**9,138**
**4,813**
**1,078**
**3,330**
**1,155**
**5,464**
**96,330**
**871**
**1,060**
**722**
**4,200**
**204**
**7,057**|2020
£
125,314
1,300|
|---|---|---|
|||126,614
22,000
9,908
969|
|||32,877
-|
|||159,491
41,395
1,047
2,559
12,266
1,174
935
4,191
11,630
13,953
1,338
4,650
4,738
8,038|
|||107,914
1,225
901
500
4,050
204|
|||6,880|
This page does not form part of the statutory financial statements
Page 18
## **LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2021**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**for the year ended 31 March 2021**|||
|---|---|---|
|**Other**
**Governance costs**
Auditors' remuneration
Legal & professional fees
Finance & Administration Manager Salary
Total resources expended
**Net income**|2021
£
**2,400**
**4,220**
**2,694**
**9,314**
**112,701**
**45,277**|2020
£
2,400
-
2,835|
|||5,235|
|||120,029|
|||39,462|
This page does not form part of the statutory financial statements
Page 19