# ## ## ## ||||Page| |---|---|---|---| |Trustees'
annual
report|||| |Independent
examiner's||report to the trustees|| |Statement offinancial|activities||| |Balance sheet|||| |Notes to the financial|statements||10| ## ## ## ## ## ## ## |Year ended 5April 2021|Year ended 5April 2021|Year ended 5April 2021|||||| |---|---|---|---|---|---|---|---| |Reference and administrative|||details||||| |Registered|charity|name|Lowestoft Charity Board||||| |Charity registration||number|1043557||||| |Principal office|||148London Road North||||| ||||Lowestoft||||| ||||Suffolk||||| ||||NR32 1HF||||| |The trustees|||||||| |The trustees|who served during||the year and at the date of approval||were as|follows:|| ||||Mr R Stebbings - Nominative||||| ||||(Chairman)||||| ||||Mrs J Collins - Co-optative|(Vice|||| ||||Chairman)||||| ||||Miss G P Buckley - Co-optative||||| ||||Mrs P Shaw - ExOfficio||||| ||||Mr P Knight - Nominative||||| ||||Mrs M Eccles - Co - optative||||| ||||Rev M Asquith - Ex Officio||||| ||||Mr A Sparkes - Ex Officio||||| ||||Mrs J Hardie - Nominative||||| ||||Mrs C Leech - Nominative||||| ||||Mrs G Battrick - Nominative||||| |Clerk|||Mr M Breeze||||| ||||Norton Peskett Solicitors||||| ||||18Church
Plain||||| ||||Great Yarmouth||||| ||||Norfolk||||| |Charity number|||Lowestoft Church and Town Estate Charity - 1043557||||| ||||Lowestoft Church and Town Relief In Need Charity - 1015039||||| ||||Lowestoft Church and Town Educational|||Foundation|-310460| |Independent|examiner||Paul Briddon BScFCA||||| ||||Lovewell Blake LLP||||| ||||Chartered
accountants||||| ||||Excelsior House||||| ||||9Quay View Business Park||||| ||||Barnards Way||||| ||||Lowestoft||||| ||||NR32 2HD||||| |Bankers|||Barclays Bank Pic||||| ||||61 London Road North||||| ||||Lowestoft||||| ||||Suffolk||||| ||||NR32 1LT||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||2021|2021|2020| |---|---|---|---|---|---|---|---| ||||||Unrestricted||| ||||||funds|Total funds|Total funds| |||||Note||R|| |Income and endowments|||||||| |Charitable
activities||||4|77,921|77,921|68,954| |Investment
income||||5|45,015|45,015|51,509| |Total income|||||122,936|122,936|120,463| |Expenditure|||||||| |Charitable
activities||||6|(92,090)|(92,090)|(98,976)| |Total expenditure|||||(92,090)|(92,090)|(98,976)| |Net income/(expenditure)||and net movements|in funds||||| |before gains and|losses on investments||||30,846|30,846|21,487| |Net gains/(losses)|on investments|||8|193,500|193,500|(149,875)| |Net income/(expenditure)||and net movement|in funds||224,346|224,346|(128,388)| |Reconciliation of|funds||||||| |Total funds brought|forward||||3,231,424|3,231,424|3,359,812| |Total funds carried forward|||||3,455,770|3,455,770|3,231,424| ## ## ## |Balance shee
5April 2021|t|||||||| |---|---|---|---|---|---|---|---|---| ||||||2021||2020|| |||||Note||||| |Fixed assets||||||||| |Tangible fixed assets||||11||1,499,946||1,499,946| |Investments||||12||1,369,109||1,150,943| |||||||2,869,055||2,650,889| |Current assets||||||||| |Debtors||||13|387,157||413,965|| |Cash at bank and|in|hand|||250,169||208,869|| ||||||637,326||622,834|| |Creditors: Amounts||falling due within||||||| |one year||||14|50,611||42,299|| |Net current assets||||||586,715||580,535| |Total assets less|current liabilities|||||3,455,770||3,231,424| |Net assets||||||3,455,770||3,231,424| |Funds ofthe charity||||||||| |Unrestricted
funds:||||||||| |Revaluation|reserve||||1,511,167||1,352,239|| |Other unrestricted|||income funds||1,944,603||1,879,185|| |Total unrestricted|funds||||3,455,770||3,231,424|| |Total charity funds||||15||3,455,770||3,231,424| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Total|Funds|Unrestricted|Total|Funds| |---|---|---|---|---|---|---|---|---|---| |||||Funds||2021|Funds||2020| |||||||R|||| |General|and|ground|rent|80,049||80,049|68,954||68,954| |Rental|write|ons/(offs)||(2,128)||(2,128)|||| |||||77,921||77,921|68,954||68,954| ## ## ## ## ## |Investment|income||||| |---|---|---|---|---|---| |||Unrestricted|Total Funds|Unrestricted|Total Funds| |||Funds|2021|Funds|2020| |||||F|| |Bank interest||113|113|95|95| |Other loan|interest received|7,922|7,922|8,257|8,257| |Investment|income|36,980|36,980|43,157|43,157| |||45,015|45,015|51,509|51,509| |6.|Expenditure|on charitable|on charitable|on charitable|on charitable|activities by|fund|type|||| |---|---|---|---|---|---|---|---|---|---|---|---| ||||||||Unrestricted||Total Funds|Unrestricted|Total Funds| |||||||||Funds|2021|Funds|2020| |||||||||F|R|F|| ||Grants|||||||29,244|29,244|17,962|17,962| ||Transfer to|St|Margarets||PCC|||42,232|42,232|29,621|29,621| ||Insurance|||||||2,293|2,293|1,979|1,979| ||Light and heat|||||||145|145|163|163| ||Support costs|||||||18,176|18,176|49,251|49,251| |||||||||92,090|92,090|98,976|98,976| |7.|Analysis ofsupport|||costs|||||||| ||||||||||Unrestricted||| ||||||||||Funds|Total 2021|Total 2020| ||Premises||||||||7,574|7,574|32,722| ||General office||||||||1,718|1,718|1,972| ||Finance costs||||||||5,272|5,272|5,180| ||Management|fees|||||||3,612|3,612|9,377| ||||||||||18,176|18,176|49,251| |8.|Net gains/(losses)|||on investments|||||||| ||||||||Unrestricted||Total Funds|Unrestricted|Total Funds| |||||||||Funds|2021|Funds|2020| |||||||||F||E|F| ||Unrealised|(loss)/surplus|||on revaluation||||||| ||of investments,||held|for|charitable use|||193,500|193,500|(149,875)|(149,875)| |9.|Independent||examination|||fees|||||| |||||||||||2021|2020| ||||||||||||E| ||Fees payable||to the|independent
examiner for:|||||||| ||Independent|examination|||ofthe financial||statements|||5,322|5,120| ## ## ## ## ## ## ## |by the tru
Tangible|stees.
fixed assets|| |---|---|---| |||Land and| |||buildings| |||R| |Cost||| |At 6April|2020 and 5April 2021|1,499,946| |Depreciation||| |At 6April|2020 and 5April 2021|| |Carrying|amount|| |At 5April|2021|1,499,946| |At 5April|2020|1,499,946| ## ||||Other| |---|---|---|---| ||||investments| ||||R| |Cost or valuation|||| |At 6 April|2020||1,150,943| |Additions|||219,268| |Disposals|||(148,847)| |Net cash|movements||(26,657)| |Other movements|||174,402| |At 5April|2021||1,369,109| |Impairment|||| |At 6April|2020|and 5April 2021|| |Carrying|amount||| |At 5April|2021||1,369,109| |At 5 April|2020||1,150,943| |All investments||shown above are held at valuation.|| ## ## ## ## ## |Debtors|||| |---|---|---|---| |||2021|2020| |Prepayments|and accrued income|3,138|| |Other debtors||384,019|413,965| |||387,157|413,965| ## ||||2021|2020| |---|---|---|---|---| |||||F| |Trade creditors||||714| |Accruals and|deferred|income|7,012|11,964| |St Margarets|PCC||42,232|29,621| |Other creditors|||1,367|| ||||50,611|42,299| ## ## |Unrestricted|funds|||||| |---|---|---|---|---|---|---| ||||||Transfers/|| |||At 6 April|||Gains and|At 5April| |||2020|Income|Expenditure|losses|2021| ||||f.|F||| |General funds||1,728,002|122,936|(92,090)|17,679|1,776,527| |Reserve for|general|||||| |benefit||151,183|||16,893|168,076| |Revaluation|reserve|1,352,239|||158,928|1,511,167| |||3,231,424|122,936|(92,090)|193,500|3,455,770| |Unrestricted|funds|||||| ||||||Transfers/|| |||At 6 April|||Gains and|At 5April| |||2019
F|Income|Expenditure|lossesf|2020| |General funds||1,721,811|120,463|(98,976)|(15,296)|1,728,002| |Reserve for|general|||||| |benefit||139,335|||11,848|151,183| |Revaluation|reserve|1,498,666|||(146,427)|1,352,239| |||3,359,812|120,463|(98,978)|(149,875)|3,231,424| ## ## ## ## ## |16.|Analysis of|net assets between fund|s|||| |---|---|---|---|---|---|---| ||As at 5April|2021||||| ||||Tangible fixed||Net current|Total Funds| ||||assets|Investments|assets|2021| ||Unrestricted|Income Funds||||| ||Designated|Funds|||168,076|168,076| ||General Funds||598,562|759,326|418,639|1,776,527| ||Revaluation|reserve|901,384|609,783||1,511,167| ||||1,499,946|1,369,109|586,715|3,455,770| ||As at 5April|2020||||| ||||Tangible fixed||Net current|Total Funds| ||||assets|Investments|assets|2020| ||Unrestricted|Income Funds||||| ||Designated|Funds|||151,183|151,183| ||General
Funds||598,562|700,088|429,352|1,728,002| ||Revaluation|reserve|901,384|450,855||1,352,239| ||||1,499,946|1,150,943|580,535|3,231,424| |17.|Designated|fund||||| ||Reserve for|general
benefit||||| |||||2021||2020| |||||R||f| ||Accumulated|fund at being of period||151,183||139,335| ||Allocation ofestate surplus|||16,893||11,848| |||||168,076||151,183| ## ## |||||||m0I-|CI4|'I4'
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Z| |||LLI||||||||||||||||||| ||Z|||||||||||||||||||| ## ## ## |||2021|2020| |---|---|---|---| ||||R| |Surplus/(deficiency)|||| |Estate charity||84,464|59,241| |Relief in need charity||1,244|(428)| |Educational
foundation||12630|7705| |||73,078|51,108| |Less appropriations|||| |Payment to St Margarets|PCC|42 232|29621| |Surplus for the year|||| ## ## |||||||Relief||Educational|Educational| |---|---|---|---|---|---|---|---|---|---| ||||Estate|||In Need||Foundation|| ||||Charity|||Charity||Charity|| ||||2021|2020
F||2021|2020f|2021|2020| |Incoming resources|||||||||| |General and ground|rent||77,921|68,954|||||| |Investment
income|||31,546|32,721||2,064|2,891|3,370|7,545| |Loan interest receivable|||7,922|8,257|||||| |Bank interest|||113||95||||| |Total incoming|||||||||| |Resources|||||||||| |Resources expended:|||||||||| |Direct charitable
expenditure|||||||||| |Grants|||13000||800|244|1 912|16000|15250| |Property expenditure|||||||||| |Light and heat|||145||163||||| |Repairs to premises|||7,574|32,722|||||| |Insurance|||2293|1|979||||| ||||10012|34|864||||| |Governance costs|||||||||| |Audit and accountancy||fees|5,272|5,180|||||| |Management
fee|||3,036|7,970||576|1,407||| |General|||1 718|1|972||||| ||||10026|15|122|576|1 407||| |Total expenditure|||33038|50|786|820|3319|16000|15250| |Net surplus/(deficiency)|||||||||| |for the year|||||||||| |Allocation ofestate|charity surplus||||||||| |Distributable|||||||||| |Relief in Need Charity||||8,446||1/10|||| |Educational
Foundation||||16,893||1/5|||| |Reserve for general||benefit||16,893||1/5|||| |St. Margarets
PCC||||42|232|1/2|||| ## ## ## ||||||Gross| |---|---|---|---|---|---| ||||Market||Income| ||||Value|Cost|receivable| ||||R||| |19,7000.125%GILT 22/03/26|||26,335|24,985|28| |24,550Treasury 1%index linked stock 07/09/2017|||||| |19,0500.125%index linked GILT 22/03/24|||25,581|24,973|31| |142,250 Income Shares National
Association|||||| |ofAlmshouses
Common
Investment
fund|||122,235|42,405|9,743| |1,942.32 Units - Income Share Charities|||||| |Official Investment
Fund|||34,751|6,075|4,741| |22,500 Units in Charinco|||41,828|38,637|2,138| |8,000 units Blackrock Charities
UK Equity Fund||A Income|52,860|12,739|2,449| |610Rio Tinto Pic ordinary
10p (registered) shares|||33,428|8,436|1,813| |440 Reckitt Benckiser ordinary 1010/19p shares|||28,587|6,203|768| |1,250 BHP Billton. ordinary
US$0.50|||25,850|7,603|1,439| |2,549 National
Grid 204/473p shares|||22,011|12,110|| |585 Unilever
pic ordinary 3 1/9p shares|||23,529|10,931|867| |1,345 United
Utilities grp ord 5p shares|||12,487|7,958|576| |1,243 Royal Dutch Shell|||16,599|14,358|767| |15,800 National
Grid 1.25% RPI 06/10/21|||20,034|16,240|1,499| |2,950BPPic Ordinary $0.25shares|||8,549|13,385|592| |270Astrazeneca
Pic Ordinary $0.10shares|||19,364|13,282|559| |1,150Experian Pic Ordinary $0.10shares|||29,279|13,387|177| |880 Prudential
Pic ordinary
5p shares|||13,653|11,797|220| |372 Gold Bullion Ltd Sec Undated
Zero CPN|NTS||43,353|29,950|| |220 Novartis
AG CHF 0.50(REGP)|||13,707|11,952|331| |405 Intertek Group Ordinary
1p shares|||23,166|19,780|428| |23Amazon. corn Inc common stock|||53,355|29,837|| |234 Umicore SA Common Stock No Par Value|||9,243|9,962|35| |271 CHR Hansen
Holdings
A/S Common Stock||DKK10|17,835|19,979|| |410 Novo-Nordisk
AS DKK0.2 Series B|||20,118|19,785|306| |302 Schroders Pic Voting Shares E1 (disposed||of)|||239| |4,100 Domino's
Pizza Group Ordinary
25/48p shares|||14,268|12,648|228| |3,144 Rightmove
Pic Ordinary 0.1p shares|||18,726|19,998|| |17,225 JPMorgan
Global Emerging
Markets|Inc||24,976|22,324|172| |1,700 Relx PLC Ordinary
1451/116pshares|||31,195|8,267|777| |134Microsoft Corp'n US$0,0000625|||23,995|19,917|134| |5,750TR Property
I/T Ordinary
25p shares|||22,713|22,483|299| |200 Pepsico Inc Cap $0.01|||20,584|22,240|125| |135Ecolab Inc USD1|||21,244|21,515|39| |140Visa Inc Class A Common Stock USD$0.0001|||22,047|22,334|26| |250 Nike Inc Class "B"Common Stock NPV|||24,286|23,940|| |8,450 Spirent Communications
Ordy 3 1/3p shs|||20,145|22,524|| |885 Bunzl Pic Ordinary 32 1/7p shares|||20,886|21,992|| |19,736 Cordiant
Digital Infrastructure|||19,657|19,999|| |Cash held for investment|||27318|27318|| ## ## ## |The Lowestoft|Church a|nd Town|Relief In Need Chari|ty||| |---|---|---|---|---|---|---| |||||||Gross| |||||Market||income| |||||value|Cost|receivable| |||||R||| |3,239.1 Income securities||MBG charifund||47,679|45,837|1,166| |2,281.43 Income Shares||Charities|Official|||| |Investment|Fund|||40,818|7,144|898| |1,010Treasury|0.125%index linked stock|||1 356|1 372|| ## |The Lowestoft Churc|h and Town Educational
Foun|dation||| |---|---|---|---|---| |||||Gross| |||Market||income| |||Value|Cost|receivable| |||R||R| |12,773.68 Income Shares Charities||||| |Official Investment|Fund|228,540|17,080|3,370| |700Treasury 0.125%|index linked stock|940|963||