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2022-03-31-accounts

REGISTERED CHARITY NUMBER: 1025779

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

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 2022

Page
Reference and administrative details 1
Report of the trustees 2 to 4
Report of the independent auditors 5 to 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 to 16
Detailed statement of financial activities 17 to 18

LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED

REFERENCE AND ADMINISTRATIVE DETAILS for the year ended 31 March 2022

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 (Vice chair from 26.10.21)
Mrs Omega Jackson Co-opted (deceased 12.2.22)
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 2022

The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. 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 the pandemic lockdown continues to be eased, there has been a gradual return to community engagements between residents although care is still being taken to ensure each other's safety. A cautious approach is being taken towards any big social gathering, and residents have expressed the wish to be able to gather for an event hopefully in the summer of 2022.

The annual trustees' visitations were cancelled but residents were offered the possibility of a phone call with a trustee should they wish.

During the year sadly two residents passed away. The newly vacant flats 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 2021/22 grants totalling £10,273 were awarded to and benefited a number of individuals and local groups. Also, small Christmas gifts of £25 were awarded to nine individuals recommended by local churches.

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. The property had a tenant who vacated the premises 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. During the year planning applications were submitted to Lewisham Council to provide three two-bedroom flats on the upper floors and a commercial premises on the ground floor. Planning consent was granted in June 2022 for the conversion. Planning permission for the shop front was granted in September 2022.

Page 2

LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED

REPORT OF THE TRUSTEES for the year ended 31 March 2022

ACHIEVEMENT AND PERFORMANCE

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 £33,981 (2021 gains £68,284) 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 £141,672 (2021 - £157,978). Expenditure directly related to the objects of the charity during the year was £150,502 (2021 - £99,187) and that related to administration and governance was £11,730 (2021 - £13,514). 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 £10,274 (2021 £18,457) on unrestricted funds and £23,707 gain (2021 £49,827) 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).

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.

Page 3

LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED

REPORT OF THE TRUSTEES for the year ended 31 March 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

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 2021/22 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

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.

Approved by order of the board of trustees on 25 October 2022 and signed on its behalf by:

Mr Alan Till - Trustee

Page 4

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 2022 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:

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:

Page 5

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.

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:

Our procedures to respond to risk include the following:

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 6

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

25 October 2022

Page 7

LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022

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 on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
-
131,336
10,336
141,672
140,229
10,273
11,730
162,232
10,274
(10,286)
1,361,146
1,350,860		 Endowment
fund
£
-
-
-
-
-
-
-
-
23,707
23,707
280,858
304,565		 2022
Total
funds
£
-
131,336
10,336
141,672
140,229
10,273
11,730
162,232
33,981
13,421
1,642,004
1,655,425		 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

The notes form part of these financial statements

Page 8

LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED

BALANCE SHEET 31 March 2022

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
£
257,381
115,754
740,420
1,113,555
13,258
268,583
281,841
(44,536)
237,305
1,350,860
1,350,860		 Endowment
fund
£
-
304,565
-
304,565
-
-
-
-
-
304,565
304,565		 2022
Total
funds
£
257,381
420,319
740,420
1,418,120
13,258
268,583
281,841
(44,536)
237,305
1,655,425
1,655,425
1,350,860
304,565
1,655,425		 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

The financial statements were approved by the Board of Trustees and authorised for issue on 25 October 2022 and were signed on its behalf by:

Mr Alan Till - Trustee

The notes form part of these financial statements

Page 9

LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022

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 10

LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022

2. OTHER TRADING ACTIVITIES

Almshouse maintenance contributions
Washing machines income
3.
INVESTMENT INCOME
Rents received
Investment income
Deposit account interest		 2022
£
130,057
1,279
131,336
2022
£
-
10,262
74
10,336		 2021
£
126,916
1,034		 2021
£
126,916
1,034
127,950
2021
£
14,799
10,073
156
25,028

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

5. STAFF COSTS

The average monthly number of employees during the year was as follows:

Warden & House Manager
Premises manager
Cleaning
Finance & administration manager		 2022
1
1
1
1
4		 2021
1
1
1
1
4

No employees received emoluments in excess of £60,000.

continued...

Page 11

LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022

6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL
INCOME AND ENDOWMENTS FROM
Charitable activities
Almshouse maintenance
Other trading activities
Investment income
Total
EXPENDITURE ON
Charitable activities
Almshouse maintenance
Grants & gifts made
Other
Total
Net gains on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 ACTIVITIES
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		 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

continued...

Page 12

LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022

7. TANGIBLE FIXED ASSETS

Fixtures & Fixtures & Fixtures &
Almshouse
Fittings		 Total
£ £ £
COST
At 1 April 2021 1,146,855 20,686 1,167,541
Additions - 517 517
Disposals - (1,151) (1,151)
At 31 March 2022 1,146,855 20,052 1,166,907
DEPRECIATION
At 1 April 2021 4,488 20,686 25,174
Charge for year 204 103 307
- (1,151) (1,151)
At 31 March 2022 4,692 19,638 24,330
NET BOOK VALUE
Before grant reduction 1,142,163 414 1,142,577
Less: Social Housing Grant 885,196 - 885,196
At 31 March 2022 256,967 414 257,381
At 31 March 2021 257,171 - 257,171

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 2021 384,532
Additions 1,806
Revaluations 33,981
At 31 March 2022 420,319
NET BOOK VALUE
At 31 March 2022 420,319
At 31 March 2021 384,532

There were no investment assets outside the UK.

continued...

Page 13

LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022

9. INVESTMENT PROPERTY

INVESTMENT PROPERTY
FAIR VALUE
At 1 April 2021
Additions
At 31 March 2022
NET BOOK VALUE
At 31 March 2022
At 31 March 2021		 £
700,000
40,420
740,420
740,420
700,000

The Commercial Property, in the opinion of the Trustees value is £740,420 at the end of the financial period.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Prepayments
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Lewisham General Trust
Lewisham Education Charity
John Thackeray
Accrued expenses		 2022
£
13,258
2022
£
11,116
2,215
1,073
30,132
44,536		 2021
£
21,499
2021
£
8,651
2,305
-
29,226
40,182

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 1.4.21
£
112,892
94,416
52,113
85,800
257,172
38,068
700,000
20,685
1,361,146
280,858
1,642,004		 Net
movement
in funds
£
29,948
-
(36,626)
(3,608)
-
-
-
-
(10,286)
23,707
13,421		 Transfers
between
funds
£
(80,851)
10,000
15,000
10,000
(204)
5,000
40,420
635
-
-
-		 At
31.3.22
£
61,989
104,416
30,487
92,192
256,968
43,068
740,420
21,320
1,350,860
304,565
1,655,425

continued...

Page 14

LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022

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 141,672 (121,998) 10,274 29,948
Cyclical maintenance - (36,626) - (36,626)
Extraordinary repairs - (3,608) - (3,608)
141,672 (162,232) 10,274 (10,286)
Endowment funds
Endowment fund - - 23,707 23,707
TOTAL FUNDS 141,672 (162,232) 33,981 13,421
Comparatives for movement in funds
Net Transfers
movement between At
At 1.4.20 in funds funds 31.3.21
£ £ £ £
Unrestricted funds
General fund 82,986 69,702 (39,796) 112,892
Routine maintenance 84,416 - 10,000 94,416
Cyclical maintenance 41,926 (4,813) 15,000 52,113
Extraordinary repairs 76,955 (1,155) 10,000 85,800
Charity fund property 257,376 - (204) 257,172
Lift 33,068 - 5,000 38,068
Property fund 700,000 - - 700,000
Depreciation fixtures & fittings 20,685 - - 20,685
1,297,412 63,734 - 1,361,146
Endowment funds
Endowment fund 231,031 49,827 - 280,858
TOTAL FUNDS 1,528,443 113,561 - 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 2022

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
£
157,978
-
-
157,978
-
157,978		 Resources
expended
£
(106,733)
(4,813)
(1,155)
(112,701)
-
(112,701)		 Gains and
Movement
losses
in funds
£
£
18,457
69,702
-
(4,813)
-
(1,155)
18,457
63,734
49,827
49,827
68,284
113,561

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 2022.

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LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022

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
Investment property repairs
Grants to individuals
Support costs
Other
Postage and stationery
Sundries
Subscriptions
Accountancy
Carried forward		 2022
£
130,057
1,279
131,336
-
10,262
74
10,336
-
141,672
43,053
9,547
4,881
13,447
1,009
1,045
2,634
10,727
36,676
6,441
5,002
3,608
660
7,495
146,225
1,999
1,406
565
4,560
8,530		 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
6,853

This page does not form part of the statutory financial statements

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LEWISHAM PAROCHIAL CHARITIES LEWISHAM RELIEF IN NEED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 March 2022
Other
Brought forward
Freehold property
Fixtures and fittings
Governance costs
Auditors' remuneration
Legal & professional fees
Finance & Administration Manager Salary
Total resources expended
Net (expenditure)/income		 2022
£
8,530
204
103
8,837
2,640
1,724
2,806
7,170
162,232
(20,560)		 2021
£
6,853
204
-
7,057
2,400
4,220
2,694
9,314
112,701
45,277

This page does not form part of the statutory financial statements

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