The Lord Mayor of Birmingham's Charity
Registered Charity Number 1036968
Report and Financial Statements For the Year Ended 31 March 2025
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The Lord Mayor of Birmingham's Charity
Report and Financial Statements
Year Ended 31 March 2025
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|Pages|
|Report|of the|Trustees|1-3|
|Independent|Examiner's|Report|to|the|Trustees|4|
|Statement|of Financial|Activities|and|Balance|Sheet|5|
|Notes|to the|Financial|Statements|6-8|
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The Lord Mayor of Birmingham's Charity
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Report of the Trustees for the Year Ended 31 March 2025
The Trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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).
Reference and administrative information
| Name ofcharity: | The Lord MayorofBirmingham's Charity | The Lord MayorofBirmingham's Charity | |
|---|---|---|---|
| Charity number: | 1036968 | ||
| Addressforcorrespondence /donations is: | SecretarytotheTrusteesof theLord Lord Mayor's Parlour |
LordMayorofBirmingham'sCharity | |
| Council House | |||
| Birmingham | |||
| Bi 1BB | |||
| Cheques should bemade payable to "Lord Mayorof | ofBirmingham's Charity’. | ||
| TheTrusteeswhoserved duringtheyearwere: | |||
| Exofficio Trustees: | The Lord MayorofBirmingham | Councillor | -Charman Lal&KennethWood |
| Deputy Lord MayorCouncillor -Maureen | Maureen Cornish& Charman Lal | ||
| Head ofthe Lord Mayor'soffice | -Anne Kennedy | ||
| Nominated byBirmingham CityCouncil: | CouncillorDiane Donaldson | ||
| Co-opted Trustees: | Stephen Goldstein -Chairman | ||
| Michaet Leddy | |||
| Councillor Jonathan Hunt | |||
| Christopher Loughran | |||
| Councillor Diane Donaldson | |||
| Anne Kennedy | |||
| Carmen Watson | |||
| CouncillorChaman Lal | |||
| DarshanVirdee (Appointed 3September2024) | |||
| Victoria Richards (Appointed 3September2024) |
2024) | ||
| KennethWood (Appointed 21 May2024) | |||
| Bank: | Barclays Bank Pic | ||
| 201 Stratford Road | |||
| Shirley | |||
| Solihull | |||
| WestMidlands | |||
| BS0 3AT | |||
| Independent Examiner: | JWHinks LLP | ||
| 19 Highfield Road | |||
| Edgbaston | |||
| Birmingham | |||
| B153BH |
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The Lord Mayor of Birmingham's Charity
Report of the Trustees for the Year Ended 31 March 2025
Structure, Governance and Management
Governing document
The Trust was established by deed on 11 April 1994 (supplemented by deed made 22 March 2021) and it is a registered charity, number 1036968.
Recruitment and appointment of trustees The Trustees who served during the year, and since the year end, are set out in the reference and administrative details on page one. The minimum number of Trustees is five and the maximum number is ten. The Trustees shall be:
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|a)|The|Lord|Mayor;|
|b)|The|Deputy Lord|Mayor;|
|¢)|One or more nominated Trustees|appointed|by the|Council;|and|
|d)|Two|or more|Co-opted Trustees|appointed|by a|resolution|of the Trustees.|
|Nominated and Co-opted Trustees|hold office for two years|but on|retirement are eligible|for reappointment.|
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|Trustees|Meetings|and|Training|
|Three Trustees|are necessary to form a quorum.|issues are decided by a simple|majority of|those present and|voting, provided|at least two|
|Trustees vote|in favour of the|resolution. The Trustees take such|action as they consider necessary fo keep themselves|informed|of changes|
|in|charity|law and|governance.|
|Objectives|and|Activities|
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|The objects of the Trust are|to advance any charitable purpose and|in|particular|to make contributions|of both|capital and|income|to the funds|of|
|any charitable body in furtherance|of|its work|in the|United|Kingdom|or to apply such|capital|and income|to any charitable|purpose as the Trustees|
|think|fit.|
|Public|Benefit|
|The Trustees have|referred|to the guidance contained|in the Charity Commission's|general|guidance on|public benefit when|reviewing|the aims|
|and|objectives|of|the charitable company and|in planning|any future|activities.|In|particular,|the Trustees have considered how planned|activities|
|will|contribute|to|the|aims|and|objectives|set.|
|Achievements|and|Performance|
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Total incoming resources for the year were £86,278 (2024: £50,775) with outgoing resources totalling £48,737 (2024: £35,339), giving rise to a net surplus of £37,541 (2024: net surplus of £15,436) prior to investment gains and losses. Gains on investment assets totalled £2,555 for the year (2024: gain of £685) resulting in an overall net surplus of £40,096 (2024: net surplus of £16,121). Closing net assets of the charity stood at £198,706 (2024: £158,61 0} as at the year end with £158,979 (2024; £121,438) within unrestricted funds and £39,727 (2024: £37,172) within permanent funds. This year the charity has continued its support on making community focused donations and for the relief for people with disabilities and ill health. Support costs of £1,500 were incurred for the cost of finance and legal support from Birmingham City Council. This cost was provided to the charity by Birmingham City Council as a gift in kind (2024: £1,500 Gift in Kind). The trustees consider that they are responsible for the direction and day-to-day decision making of the charity and as such there are no paid members of key management personnel. ‘The remainder of the permanent fund continues to be invested in Schroder Charity Equity Fund Income Units. These investments increased in value by £2,555, from £23,498 to £26,053 as at 31 March 2025,
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The Lord Mayor of Birmingham's Charity Report of the Trustees for the Year Ended 34 March 2025
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Reserves and Grant Making Policy
The charity introduced a new theme whereby all grants would be made for the Health and Wellbeing of all residents of Birmingham. The trustees also call upon a small group of volunteers who support trustees, as they interrogate each application for grants, visiting organisations to see what an impact a small grant would make on that group, as we don't wish to pay employment costs.
Risk Management
The Trustees keep under review the major strategic and operational risks which the Charity faces and are satisfied that systems have been established in order to minimise the possible effects of such risks on the charity. ‘The principal risks faced by the charity lie in the performance of investments and the capacity of the charity to make effective onward grants and financial support. The charity invests in two types of investment - Chariguard UK Equity Fund income units and Schrdoer Charity Equity Fund income units. Both are specialist funds designed for the charity sector and the trustees mitigate their investment risk by utilising such funds. The charity introduced a new theme whereby all grants would be made for the Health and Wellbeing of all residents of Birmingham. The trustees also call upon a small group of volunteers who support trustees, as they interrogate each application for grants, visiting organisations to see what an impact a small grant would make on that group, as we don't wish to pay employment costs.
Trustees’ Responsibilities in Relation to the Financial Statements The Trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. (United Kingdom Generally Accepted Accounting Practice). Law applicable to charities in England and Wales 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 of the charity 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 in the Charities SORP;
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~ make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 that 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.
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(Approved \ ) on their behalf by:
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The Lord Mayor of Birmingham's Charity
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Independent Examiner's Report to the Trustees for the Year Ended 31 March 2025
Independent examiner's report to the trustees of The Lord Mayor of Birmingham's Charity | report to the charity trustees on my examination of the accounts of the The Lord Mayor of Birmingham's Charity for the year ended 31 March 2025 which are set out on pages 5 to 8.
Responsibilities and basis of report
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("The Act’).
| report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination | have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
independent examiner's statement
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
- 1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2 the accounts do not accord with those records; or
3 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
| have no concerns and have come across no other matters in connection with the examination to which attention shauld be drawn in this report in order to enable a proper understanding of the accounts to be reached.
James Cruse FCA, FCCA, BSe (Econ) Hons
JW Hinks LLP Chartered Accountants 19 Highfield Road Edgbaston Birmingham West Midlands B15 3BH
Date
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The Lord Mayor of Birmingham's Charity
Statement of Financial Activities for the Year Ended 31 March 2025
| Unrestricted Fund |
Permanent Fund |
Total 2025 |
Total 2024 |
|||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Income: | ||||||
| Donations Memberships Activitiesforgenerating funds Investmentincome Gifts in kind |
2 3 4 5 |
6,799 . 74,802 3,177 1,500 |
- . - - . |
6,799 - 74,802 3,177 1,500 |
28,847 0 18,093 2,335 1,500 |
|
| TotalIncome | 86,278 | - | 86,278 | 50,775 | ||
| Expenditure: | ||||||
| SupportCosts Costofgeneratingfunds Insurance Charitable expenditure |
5 6 7 |
1,500 586 674 36,768 |
- - - - |
1,500 586 674 36,768 |
1,500 1,406 657 23,000 |
|
| Governance Costs | 39,528 | - | 39,528 | 26,563 | ||
| independent Examination fee Consultancyfees |
1,600 7,609 |
- - |
1,600 7,603 |
1,476 7,300 |
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| 9,209 | - | 9,209 | 8,776 | |||
| Total Expenditure | 48,737 | - | 48,737 | 35,339 | ||
| Net(Outgoing) /Incoming Resources | 37,541 | - | 37,541 | 15,436 | ||
| Other Recognised | Gains and Losses | |||||
| Gains on investments | - | 2,555 | 2,555 | 685 | ||
| NetMovementFunds | 37,541 | 2,555 | 40,096 | 16,121 | ||
| Reconciliation ofMovement in Funds | ||||||
| Balance at 1 April2024 | 121,438 | 37,172 | 158,610 | 142,489 | ||
| Balanceat31 March2025 | 158,979 | 39,727 | 198,706 | 158,810 | ||
| Balance | Sheet at 31 March | 2025 | ||||
| Notes | Unrestricted Fund |
Permanent Fund |
Total 2025 |
Total 2024 |
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| Fixed Assets | £ | £ | £ | £ | ||
| Investments | 8 | - | 26,053 | 26,053 | 23,498 | |
| Current Assets | ||||||
| Debtors | 9 | 400 | - | 400 | - | |
| Balancesheld atbank | 170,828 | 13,674 | 184,502 | 138,592 | ||
| Creditors:amountsfailing | failingduewithin 1 year | 10 | 12,249 | - | 12,249 | 3,480 |
| NetCurrentAssets | 158,979 | 13,674 | 172,653 | 135,112 | ||
| Total NetAssets | 158,979 | 39,727 | 198,706 | 158,610 | ||
| Represented by: | ||||||
| Funds | 158,979 | 39,727 | 198,706 | 168,610 | ||
| \ a | ||||||
| Trustee | Date |
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The Lord Mayor of Birmingham's Charity
Notes to the Financial Statements for the Year Ended 31 March 2025
Note1
Principal Accounting Policies
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared 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) (effective January 2019) - (Charities SORP FRS 102).
The financial statements are prepared on a going concern basis under historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.
The charity adopted SORP (FRS 102) in the current year and there are no material implications or adjustments arising from the adoption if the new accounting framework.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The charity has taken advantage of the option provided in the Statement of Recommended Practice to use headings in the Statement of Financial Activity that are applicable to their specific activity
a) Accounting Convention
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The accounts are prepared on the historical cost basis of accounting modified to include listed investments at market value. Incoming
resources and the application of those resources have been accounted for on the accruals basis of accounting.
b) Income
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Items of income are recognised and included in the accounts when all of the following criteria are met: - the charity has entitlement to the funds; ~ any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity; - there is sufficient certainty that receipt of the income is considered probable; and - the amount can be measured reliably.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normatly upon notification of the interest paid or payable by the bank.
c) Resources Expended
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Expenditure on costs of raising funds comprise the costs of running fund raising events Expenditure on charitable activities includes the costs of grant making activities and support to other charities and organisations as decided by the trustees.
irrecoverable VAT is charged as a cost against the activity for which expenditure was incurred.
d) Fund Accounting
Details and the nature of each fund is set below: Unrestricted Funds comprise those funds which the Trustees are free to use in accordance with the charitable objects. Permanent Funds represents those assets which must be held permanently by the charity.
e) Investments
Investments are Inltially recognised at their transaction value and subsequently measured at their market value at the year end using the closing quoted market price. Any surplus or deficit on revaluation or sale being included in the Statement of Financial Activities.
f) Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
g) Tax
The charity meets the definition of charity within the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charity for UK corporation tax purposes.
h) Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months fram authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
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The Lord Mayor of Birmingham's Charity
Notes to the Financial Statements for the Year Ended 31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note2 | Donations | £ | £ |
| Donations received | 6,799 | 28,847 | |
| Incomefrom donations is recognised | attheearlier ofreceiptor notification thatfunds are held. | ||
| Forpractical reasons such income is reported net ofanyfundraising expenses incurred ata local level. | |||
| 2025 | 2024 | ||
| Note 3 | Activities forGenerating Funds | £ | £ |
| Awards Evening Ball |
57,030 10,432 |
- - |
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| Mega Quiz | 6,000 | 15,000 | |
| Quiz | 1,340 | 3,093 | |
| 74,802 | 18,093 | ||
| 2025 | 2024 | ||
| Note 4 | Bankand InvestmentIncome | £ | £ |
| Unitised funds | 1,092 | 4,054 | |
| Bank interest | 2,085 | 1,281 | |
| 3,177 | 2,335 | ||
| Note 5 | Gift in Kind/SupportCosts | ||
| Supportcosts of£1,500were incurred forthecostoffinanceand legalsupportfrom Birmingham CityCouncil. | |||
| This costwas providedtothecharitybyBirmingham CityCouncil as a gift in kind (2024: £1,500). | |||
| 2025 | 2024 | ||
| Note6 | Costs ofGenerating Funds | £ | £ |
| Big Quiz | 24 | 920 | |
| Advertising & Promotion | 80 | - | |
| Travel | 50 | - | |
| Bank Charges | 107 | 161 | |
| Admin Support | 32 | 26 | |
| ComputerCosts& Software | 20 | 82 | |
| Sundries | 274 | 217 | |
| 586 | 4,406 | ||
| TheTrusteesemployed nofundraisers oradmin support during theyear (2024: none). | |||
| 2025 | 2024 | ||
| Note7 | Charitable Expenditure | £ | £ |
| Donations | |||
| CommunityFocused Donations | 36,768 | 23,000 | |
| 36,768 | 23,000 |
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The Lord Mayor of Birmingham's Charity
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Notes to the Financial Statements for the Year Ended 31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note8 | Investments £ |
£ | |
| SchroderCharity EquityFund Income Units 26,053 |
23,498 | ||
| 26,053 | 23,498 | ||
| The remainderofthe Permanent Fund continues tobeinvested in SchroderCharity EquityFund Income Units. | |||
| These investments increased in value by£2,555, from £23,498to£26,053 as at31 March 2025. | |||
| The fairvalue oflisted investmentsisdetermined by reference tothequoted pricefor identicalassets inan active | |||
| market at the balance sheet date. | |||
| All investmentsarecarried attheirfairvalue, Investments in equitiesandfixed interestsecurities are all traded | in quoted | ||
| publicmarkets, primarilythe London Stock Exchange. Holdings incommon investmentfunds, unit trusts and | |||
| open-ended investmentcompanies areatthe bid price.The basis offairvalue forquoted investments isequivalent to | |||
| the marketvalue, using the bid price.Assetsales and purchases are recognised atthe dateoftrade atcost | |||
| (that is theirtransaction value), | |||
| The main riskto the Charityfrom financial instruments lies in the combination of uncertain investmentmarkets and | |||
| volatility in yield.The Charity isreliant on dividend yield tofinance itswork. Liquidity risk isanticipated tobe lowas | as all | ||
| assetsare traded.The Charity'sinvestmentsaremainlytraded in markets with good liquidityand hightrading | volumes. | volumes. | |
| TheCharity has no material investmentholdingsin markets subjecttoexchange controls ortrading restrictions. | |||
| 2025 | 2024 | ||
| Note9 | Debtors £ |
£ | |
| Trade debtors 406 |
- | ||
| 400 | - | ||
| 2025 | 2024 | ||
| Note 10 | Creditors £ |
£ | |
| Other creditors 9,545 |
1,975 | ||
| Trade creditors 4,104 |
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| IndependentExaminers Fee 4,600 |
1,500 | ||
| 12,249 | 3,480 |
All investments are carried at their fair value, Investments in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment funds, unit trusts and open-ended investment companies are at the bid price. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value),
The main risk to the Charity from financial instruments lies in the combination of uncertain investment markets and volatility in yield. The Charity is reliant on dividend yield to finance its work. Liquidity risk is anticipated to be low as all assets are traded. The Charity's investments are mainly traded in markets with good liquidity and high trading volumes. The Charity has no material investment holdings in markets subject to exchange controls or trading restrictions.
Note 11 Trustees' Remuneration
None of the trustees have received any remuneration or reimbursement of expenses from the trust (2024: £nil).
Note 12 Related Party Transactions
No related party transactions occurred during the year ended 31 March 2025 (2024: £nil).
Note 13 Post Balance Sheet Events
The financial statements have been prepared on a going concern basis.
At present time there are many unknown variables which makes forecasting the future results and impact on the charity very difficult.
The trustees recognise that the current situation is uncertain but they have considered the position of the charity both at present and for the future given the current information available.
The trustees have considered the various income streams of the charity, anticipated costs, future cash flows and the various options available to them.
Based on the above, the trustees believe that it remains appropriate for the financial statements to be prepared on a going concern basis.
The financial statements do not include any adjustments which would result from the basis of preparation being inappropriate.
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