## **The Labone Charitable Foundation** 

## **FINANCIAL STATEMENTS** 

For the year ended 

## **31[st] December 2021** 

Charity Commission Registration No: 1042836 



## **The Labone Charitable Foundation** 

## **OFFICERS AND PROFESSIONAL ADVISERS** 

|**Trustees**|Mr. A A Stiegler<br>Mrs A B Stiegler<br>Mr C J Young<br>Mrs M Cummins|
|---|---|
|**Principal Address**|17 Eskdale Drive<br>Aspley<br>Nottingham<br>NG8 5GZ|
|**Independent Examiner**|Allan A. Gascoigne<br>Chartered Accountant (retired)<br>125 Kimberly Road<br>Nuthall<br>Nottingham<br>NG16 1DD|



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## **The Labone Charitable Foundation** 

## **TRUSTEES ANNUAL REPORT** 

## **For the year  ended 31[st] December 2021** 

The Trustees present their report and the financial statements of the Trust for the year ended 31[st] December 2021. 

## **LEGAL STATUS** 

The Labone Charitable Trust is constituted by a Deed of Trust dated 3[rd] November 1994 and is a registered charity, No. 1042836. 

## **OBJECTIVES OF THE TRUST** 

The Trust was established to promote religion, relief of poverty and other objects agreed by the Trustees. 

The Trustees during the year were Mr A A Stiegler, Mrs A B Stiegler and Mr C J Young, who are also directors of R A Labone & Co. Ltd., and Mrs M Cummins. Mr A A Stiegler and Mr C J Young are also directors of Labone Holdings Ltd. There were no changes of Trustee during the year. 

## **REVIEW OF ACTIVITIES** 

As shown in the accounts the trustees endeavour to distribute all of the income of the Trust in the year it is received. As a result the only assets of the charity are the shareholding in Labone Holdings Ltd. and bank balances. The main benefactor of the Trust for the year  ended 31[st] December 2021 was Munyaradzi Bwanali to whom donations of £22,296 were made. 

## **INCOME** 

The income received during the year  under review amounted to £45,300 

## **RESULTS** 

The results for the year  and the Trust’s financial position at the end of the year are shown in the attached financial statements. 

## **INDEPENDENT EXAMINERS** 

A resolution to appoint Allan A Gascoigne as independent examiner for the ensuing year will be proposed at the next meeting of the Trustees. 

Approved by the Trustees on 

and signed on their behalf by: 

## **Trustee** 

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## **The Labone Charitable Foundation** 

## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES** 

## **For the year ended 31[st] December 2021** 

I report on the accounts of The Labone Charitable Trust for the year ended 31[st] December 2021, which are set out on pages 4 to 9. 

## **RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER** 

The charity’s trustees consider that an audit is not required for this year (under section 43 (2) of the Charities Act 1993 (the Act), as amended by s.28 of the Charities Act 2006) and that an independent examination is needed. 

It is my responsibility to: 

- Examine the accounts (under section 43 of the Act, as amended); 

- To follow the procedures laid down in the General directions given by the Charity Commission (under section 43(7)(b) of the Act, as amended); and 

- To state whether particular matters have come to my attention. 

## **BASIS OF INDEPENDENT EXAMINERS STATEMENT** 

My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity, and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts. 

## **INDEPENDENT EXAMINERS STATEMENT** 

In the course of my examination, no matter has come to my attention 

- (1) Which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that: 

   - Proper accounting records are kept (in accordance with section 40 of the Act); and 

   - • Accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or 

- (2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 

Allan A Gascoigne Chartered Accountant (retired) 

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## **The Labone Charitable Foundation** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## **For the nine months ended 31[st] December 2020** 

|||**Total Funds**|**Unrestricted**|
|---|---|---|---|
|||**Year to 31.12.2021**|**Income Funds**|
||||**9 months to**|
||||**31st December 2020**|
|||**£**|**£**|
||Note|||
|**INCOMING RESOURCES**|2|45,300|-|
|Dividends on Investments||-|-|
|Income Tax Refund||-|-|
|**TOTAL INCOMING RESOURCES**||**45,300**|**-**|
|**RESOURCES EXPENDED**||||
|Charitable Expenditure||||
|Donations|3|44,816|45,860|
|Bank Charges||-|-|
|Purchase of Shares||-|-|
|**TOTAL RESOURCES EXPENDED**||**44,816**|**45,860**|
|**NET (EXPENDITURE)/INCOME**||484|(45,860)|
|**FOR THE PERIOD**||||
|**OTHER RECOGNISED GAINS & LOSSES**||||
|Net (loss)/gain on investment|4|(2,466)|(99,561)|
|**Net movement in funds**||**(1,982)**|**(145,421)**|
|**Fund balances Brought Forward**||**3,861,328**|**4,006,749**|
|**Fund balances Carried Forward**||**3,859,346**|**3,861,328**|



The funds above represent the general funds of the trust and are not subject to any specific restrictions other that the general provisions laid down by the trust deed. 

The charity has no recognised gains or losses other than those stated above. 

All of the activities of the charity are classed as continuing. 

## **The notes on pages 6 to 8 form part of these financial statements** 

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## **The Labone Charitable Foundation** 

## **BALANCE SHEET** 

## **As at 31[st] December 2021** 

|||**31.12.2021**<br>**£**|**31.12.2021**<br>**£**|**31.12.2021**<br>**£**|**31.12.2020**<br>**£**|**31.12.2020**<br>**£**|**31.12.2020**<br>**£**|
|---|---|---|---|---|---|---|---|
||**Note**|||||||
|FIXED ASSET INVESTMENTS<br>**CURRENT ASSETS**|4||**3,856,422**|||**3,858,888**||
|||||||||
|Debtors|5|||-|||-|
|Cash at bank and in hand||||**2,924**|||**2,440**|
|**CREDITORS: Amounts falling due**<br>**Within one year**||||-|||-|
|**NET CURRENT ASSETS**||||**2,924**|||**2,440**|
|**NET ASSETS**|||**3,859,346**|||**3,861,328**||
|Represented by:||||||||
|**UNRESTRICTED INCOME FUNDS**|8||**3,859,346**|||**3,861,328**||



The financial statements were approved by the Trustees on 

and were signed on their behalf by: 

.......................................... ............................................... **A A Stiegler C J Young Trustee Trustee** 

**The notes on pages 6 to 8 form part of these financial statements** 

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## **The Labone Charitable Foundation** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **For the year  ended 31[st] December 2021** 

## **1 ACCOUNTING POLICIES** 

These accounts have been prepared under the historic cost convention with the exception of fixed asset investments, which are included at current valuation. The accounts have been prepared in accordance with applicable accounting standards and the Statement of Recommended Practice: Accounting and Reporting by Charities. 

## **1.1 Investments** 

Fixed asset investments are included in the accounts at their market value as estimated by the trustees. 

## **1.2 Incoming Resources** 

Incoming resources are accounted for when receivable. 

## **1.3 Resources Expended** 

Resources expended are accounted for on an accruals basis. 

## **1.4 Fund Accounting** 

The unrestricted income funds are funds, which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. 

## **2 DONATIONS RECEIVED** 

||**Year to**|**9 months to**|
|---|---|---|
||**31.12.2021**|**31.12.2020**|
||**£**|**£**|
|**Donation**|||
|From R A Labone & Co. Ltd|30,000|-|
|From Labone Castleside Ltd.|15,000|-|
|Other|300|-|
||**45,300**|**-**|



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## **The Labone Charitable foundation** 

## **NOTES TO THE FINANCIAL STATEMENTS (Cont’d)** 

## **For the nine months ended 31[st] December 2020** 

## **3 DONATIONS PAYABLE** 

|Payable to institutions<br>Payable to individuals<br>The following donations in excess of £1,000 were made to: -<br>Munyaradzi Bwanali<br>Kukura Neshungu Institute<br>Nottingham Hospice<br>Thecle Gambe<br>Colombian Missionaries<br>Moldova Project<br>Zambian Mission Fund<br>Mayu Rural Development<br>Saint Patrick Missionary Society<br>Other||**2021**<br>5<br>2<br>22,296<br>2,983<br>2,000<br>2,164<br>2,000<br>4,873<br>2,000<br>2,000<br>2,500|
|---|---|---|
|||40,816<br>4000|
|||**44,816**|



## **4 INVESTMENTS** 

||**31.12.2021**|**31.12.2020**|
|---|---|---|
||**£**|**£**|
|545 Ordinary shares of £1 each|||
|in Labone Holdings Ltd. at 31stDecember 2021|||
|Valuation as at:|||
|1stJanuary  2021|3,858,888|3,958,449|
|1stJanuary 2021|||
|Net unrealised investment (loss) / gain|(2,466)|(99,561)|
|31stMarch 2020|**3,856,422**|**-**|
|31stDecember 2021||**3,858,888**|



The Valuation has been based on the net-book value of the company at the company  year end falling within the relevant account period of the charity. In the opinion of the trustees this reflects the best estimate available of the market value of shares . The nominal  value of the shares is £1 each. 

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## **The Labone Charitable Foundation** 

## **NOTES TO THE FINANCIAL STATEMENTS (Cont’d)** 

**For the year  ended 31[st] December 2021** 

## **5 DEBTORS** 

|**5**<br>**DEBTORS**|||
|---|---|---|
||**31.12.2020**<br>**£**|**31.12.2020**<br>**£**|
|Tax recoverable onGiftAid|-|-|



## **6 RELATED PARTY TRANSACTIONS** 

There were no related party transactions during the period. 

## **7 TRUSTEES REMUNERATION** 

During the year to 5[th] April 2022 the following Trustees of the charity were also directors of Labone Holdings Ltd and R A Labone & Co. Ltd. They received the following remuneration and benefits in their capacity as directors of those companies, such payments being in accordance with the trust deed of the charity. No Trustee received any remuneration or expenses directly from or in relation to the Labone Charitable Foundation. 

||**A A Stiegler**|**A A Stiegler**|**C J Young**|**C J Young**|**A**|**B Stiegler**|
|---|---|---|---|---|---|---|
|Remuneration||53,968||105,696||126,000|
|Benefits in kind||5,968||14,309||-|
|Pension Contributions||-||24,893||-|
|**Total**||**59,936**||**144,898**||**126,000**|



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## **The Labone Charitable Foundation** 

## **NOTES TO THE FINANCIAL STATEMENTS (Cont’d)** 

**For the year  ended 31[st] December 2021** 

## **8 SUMMARY OF NET ASSETS BY FUNDS** 

||**Unrestricted Funds**<br>**£**|**Unrestricted Funds**<br>**£**|
|---|---|---|
|Fixed Assets||3,856,422|
|Net Current Assets||2,924|
|**Net Assets**||**3,859,346**|



The unrestricted fund is the general income fund of the charity 

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