2021-12-31-accounts - The Clapham Relief Fund

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THE CLAPHAM RELIEF FUND Charity No. 1074562

TRUSTEES REPORT AND ACCOUNTS

FOR THE

YEAR TO 31ST DECEMBER 2021

THE CLAPHAM RELIEF FUND

INDEX TO ACCOUNTS SCHEDULES

YEAR TO 31ST DECEMBER 2021

2. Index

Trustees and Other Information
- 1. Trustees Report
Independent Examiner’s Report
Statement of Financial Activities
Balance Sheet
- 1. Notes to the Accounts

THE CLAPHAM RELIEF FUND

TRUSTEES AND OTHER INFORMATION (Forming part of the Trustees Report)

YEAR TO 31ST DECEMBER 2021

1. CHARITY NO. AND AREA OF BENEFIT

The charity no. is 1074562 and the area of benefit is based on the historic Parish of Holy Trinity and the area surrounding this boundary, so as to include complete Local Government wards.

2. TRUSTEES

The following served as trustees during the year and up to December 2021:

Meetings

Attended

Frank Brown	4
Diana Cornforth	3
Carole Glasson	4
Chris Newman (Treasurer)	3
Girda Niles	4
Jackie Parkin	3
Penny Rose-Casemore (New Trustee)	4
Endellion Sharpe (Resigned)	2
Claire Whittle (Chair)	4

3. CLERK TO THE TRUSTEES AND ADDRESS

Mrs. Shirley Cosgrave Registered Address Correspondence Address Holy Trinity Church P O Box 37978 North Side London SW4 8WX Clapham Common London SW4 0QZ

4. STOCKBROKERS

Mr Adam Spring 12 Moorgate London EC2R 6DA

5. BANK

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling. Kent ME19 4JQ

6. INDEPENDENT EXAMINER

Judith Brookfield Brookfield & Co 18 Concanon Road London, SW2 5TA

THE CLAPHAM RELIEF FUND

TRUSTEES REPORT - YEAR TO 31ST DECEMBER 2021

The Trustees are pleased to present their report and the financial statements of the fund for the year to 31st December 2021. Details of Trustees and other basic information are given on page 3.

Constitution

The charity is administered and managed subject to and in conformity with the provisions of Schemes of the Charity Commissioners dated 13th January 1997 and 11[th] August 2000, as amended.

Aims and Organisation

The aim of the organisation is to apply the income of the charity to relieving either generally or individually, people in need, hardship or distress resident in the Clapham area.

The Trustees normally meet four times during the year, to approve applications. In addition either our Chair or our Treasurer and one other trustee can approve urgent individual applications of up to £300 each between meetings. The work of receiving applications and paying the grants that are agreed upon is carried out by the Clerk to the committee, who is paid an honorarium.

Methods Used for Recruitment and Appointment of Trustees

As a geographically based charity, new Trustees are sought from those based in the local community, who have some involvement in community matters, or have a skill which is needed by the charity. New Trustees are required to complete the Charity Commission Declaration Form, which includes a statement that they have read the Charity Commission Booklet CC3 entitled “The Essential Trustee”.

CHAIR’S REPORT - YEAR TO 31[ST] DECEMBER 2021

Throughout 2021, Clapham Relief Fund continued to support those living in our area of benefit with financial grants; we received applications from both individuals and organisations within the Clapham area.

During 2021 our meetings returned to face to face and in person. We met four times throughout the year to discuss the applications, which we received, and to give out grants. In these meetings we also took the opportunity to hear from our Treasurer regarding the finances of Clapham Relief Fund. Our investments also continue to be regularly reviewed by the trustees and a representative from Cazenove visited us annually to discuss our portfolio. In addition to our investments with Cazenove we continue to hold investments with COIF Charities Investment Fund. We are grateful for the time Cazenove spends with us to ensure we have a good understanding of our investments and their handling of our investments.

Throughout the year we received a good number of applications from both individuals and from some organisations. In order for us to give financial support via a grant, all successful grants have to qualify through detailed criteria. If we were ever uncertain of the need or had questions then the application would be either rejected or the applicant would need to submit further information before a grant could be awarded. As a group of trustees we always ensure that the need is clearly demonstrated before a grant is given.

At the end of 2021 Endellion Sharp sadly decided to step down as a trustee. I would like to thank her sincerely for her valued contribution over the past years. The recruitment process for a new trustee will begin in 2022 with the aim to have a new trustee in position by the December meeting. Also during 2021 Carole Glasson decided to permanently step down as chair although happily to stay on as trustee. On behalf of all the trustees I would like to sincerely thank Carole for her time as Chair and thank her for everything she has done. However it is wonderful that Carole remains as a trustee as so the Fund will continue to benefit from her expertise and experience.

There are a number of thankyous I would like to make, firstly to sincerely thank Chris Newman for all the hard work he does throughout the year as our Treasurer and in his work in preparing these accounts. To our new accountant, Judith Brookfield, thank you for independently examining these accounts. We would like to welcome you to Clapham Relief Fund and we look forward to working with you over the coming years. Importantly, I would like to thank our clerk, Shirley Cosgrave. Shirley’s support, skill and experience are vital to the smooth running of the Fund and she is very much appreciated. Thank you. I would also like to thank Holy Trinity Church who kindly gives us the room that we meet in.

Finally I would sincerely thank my fellow trustees for their continued dedication and time, which they give to Clapham Relief Fund, especially as I have moved up as Chair. Their support during this time, particularly during the pandemic, has been very much appreciated.

We look forward to the Trust continuing to provide help and support to the people of Clapham in the coming year.

Claire Whittle Chair

Review of Financial Activities and Affairs

Investments – As agreed by the trustees, the majority of the charity’s holdings have been split between the Schroders Charity Multi-Asset Fund and the Schroders Responsible Charity Multi-Asset Fund. 28% of the charity’s holdings are invested separately in the COIF Charities Ethical Investment Fund.

Statement of Financial Activities – There were no major changes to expenditure in 2021. Details of our grants are in Note 3 to these Accounts.

Reserves Policy

Our reserves policy is set out under Accounting Policies on page 11.

Risk Management

The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that our Risk Assessment policy is reviewed yearly to ensure that the necessary steps are in place to mitigate these risks.

Public Benefit

The Trustees have paid due regard to the guidance of the Charity Commission on “Public Benefit” in deciding upon what activities we should undertake.

Trustees’ Statement of Responsibilities in Relation to the Accounts

The law applicable to charities in England and Wales requires trustees to prepare Accounts for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year (unless the charity is entitled to prepare Accounts on the alternative receipts and payments basis). In preparing Accounts giving a true and fair view, the Trustees should follow best practice and:

Select suitable accounting policies and then apply them consistently,

Make judgements and estimates that are reasonable and prudent,

State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the accounts,

Prepare accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

THE CLAPHAM RELIEF FUND

TRUSTEES REPORT - YEAR TO 31ST DECEMBER 2021

The Trustees are responsible for keeping accounting records, which enable them to ascertain and disclose the financial position of the charity and to ensure that the Accounts comply with applicable law. 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.

The Trustees confirm that they have acted within their powers with respect to the administration of the investment portfolio and also confirm that the charity can meet all its financial obligations.

This report and the Accounts set out on pages 9 to 13 were approved by the trustees on 26[th] October 2022 and signed on their behalf.

Claire Whittle Chair

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THE CLAPHAM RELIEF FUND

STATEMENT OF FINANCIAL ACTIVITIES

YEAR TO 31ST DECEMBER 2021

Note Un –Restricted Funds Distribut- able Retained Total £ £ £ INCOMING RESOURCES Investment Income Dividends 25,545 25,545 Interest - Fixed Interest Securities - - Bank and deposit interest Refunds - 519 - 519 Grant from Henry Smith Charity 0 0 Donations 0 0 26,064 26,064 RESOURCES EXPENDED Charitable Activities -Grants 3 22,486 22,486 Governance Costs Independent Examiner’s fees 600 600 Rent of room for meetings - - 600 600 Other Support Costs Clerk’s Honorarium 985 985 Printing, stationery and postage 20 20 PO Box 353 353 Publications - - Website maintenance 235 235 Bank Charges 115 115 1,708 1,708 Total Resources Expended 24,794 24,794 Net Income/-Resources Expended 1,270 1,270 Other Recognised Surpluses Investments: Surplus/(deficit) on revaluation 2 32,520 32,520 Profit/-loss on disposals Transfer between funds 1 (7,500) (7,500) Net Movement in Funds (6,230) 32,520 32,520 Surplus 1stJanuary 33.472 508,120 541,592 Surplus 31stDecember 27,242 540,640 567,882	Note Un –Restricted Funds Distribut- able Retained Total £ £ £ INCOMING RESOURCES Investment Income Dividends 25,545 25,545 Interest - Fixed Interest Securities - - Bank and deposit interest Refunds - 519 - 519 Grant from Henry Smith Charity 0 0 Donations 0 0 26,064 26,064 RESOURCES EXPENDED Charitable Activities -Grants 3 22,486 22,486 Governance Costs Independent Examiner’s fees 600 600 Rent of room for meetings - - 600 600 Other Support Costs Clerk’s Honorarium 985 985 Printing, stationery and postage 20 20 PO Box 353 353 Publications - - Website maintenance 235 235 Bank Charges 115 115 1,708 1,708 Total Resources Expended 24,794 24,794 Net Income/-Resources Expended 1,270 1,270 Other Recognised Surpluses Investments: Surplus/(deficit) on revaluation 2 32,520 32,520 Profit/-loss on disposals Transfer between funds 1 (7,500) (7,500) Net Movement in Funds (6,230) 32,520 32,520 Surplus 1stJanuary 33.472 508,120 541,592 Surplus 31stDecember 27,242 540,640 567,882	Note Un –Restricted Funds Distribut- able Retained Total £ £ £ INCOMING RESOURCES Investment Income Dividends 25,545 25,545 Interest - Fixed Interest Securities - - Bank and deposit interest Refunds - 519 - 519 Grant from Henry Smith Charity 0 0 Donations 0 0 26,064 26,064 RESOURCES EXPENDED Charitable Activities -Grants 3 22,486 22,486 Governance Costs Independent Examiner’s fees 600 600 Rent of room for meetings - - 600 600 Other Support Costs Clerk’s Honorarium 985 985 Printing, stationery and postage 20 20 PO Box 353 353 Publications - - Website maintenance 235 235 Bank Charges 115 115 1,708 1,708 Total Resources Expended 24,794 24,794 Net Income/-Resources Expended 1,270 1,270 Other Recognised Surpluses Investments: Surplus/(deficit) on revaluation 2 32,520 32,520 Profit/-loss on disposals Transfer between funds 1 (7,500) (7,500) Net Movement in Funds (6,230) 32,520 32,520 Surplus 1stJanuary 33.472 508,120 541,592 Surplus 31stDecember 27,242 540,640 567,882	Endowment Funds Total 2021 £ £ 25,545 - - 519 0 0 26,064 22,486 600 - 600 985 20 353 - 235 115 1,708 24,794 1,270 22,51955,039 7,500 - 30,019 56,309 189,617 731,209 219,636 787,518	Total 2020 £ 25,160 - 3 300 4,000 0 29,463 16,211 600 - 600 985 66 342 - 229 60 1,682 18,493 10,970 29,057 - 40,027 691,182 731,209
	33.472	508,120 541,592
	27,242	540,640 567,882

THE CLAPHAM RELIEF FUND

BALANCE SHEET AS AT 31ST DECEMBER 2021

Note £ Fixed Assets Investments 2 773,980 Current Assets Debtors and Prepayments - Cash on deposit - CAF Gold Acc 2,500 Cash at bank current accounts: CAF Bank 12,295 14,795 Current Liabilities Accruals 1,257 Net Current Assets Net Assets FUNDS Endowed Page 9 Unrestricted Page 9 Retained 540,640 Distributable 27,242 Approved by the Trustees on 26 October 2022 and signed on their behalf by:	2021 £ £ - 3,450 16,975 20,425 657 13,538 786,518 219,636 513,120 33,472 567,882 786,518	2020 £ 711,441 22,568 731,209 189,617 546,492 731,209

C Whittle – Chair

C Newman – Treasurer

THE CLAPHAM RELIEF FUND

NOTES TO THE ACCOUNTS FOR THE YEAR TO 31ST DECEMBER 2021

1. Accounting Policies

General

These Accounts have been prepared under the historical cost convention (except for the valuation of investments) and in accordance with applicable accounting standards and the Charities SORP (FRS 102). The dividends added to accumulation investments (i.e. not paid into the Charity’s bank accounts) have been included as part of investment income in the Statement of Financial Activities.

Accruals

The Accounts have been prepared on an “accruals” basis.

Income Recognition

Investment Income is recognised when received.

Expenditure Recognition

Grants are recognised when the grants are approved.

Reserves

The trustees have adopted a policy of distributing the surplus of net income received since January 1997, the date of formation of this charity. In order to reflect this policy a distinction is made under Unrestricted Reserves between funds to be retained and funds to be distributed.

Investments Valuation

Investments are included at market value, based on the mid-market price.

Endowment (Permanent) and Unrestricted Funds

The Trustees are of the opinion that the 70,180.31 COIF Ethical Income Units are the only identifiable component of the Endowment Fund.

THE CLAPHAM RELIEF FUND

NOTES TO THE ACCOUNTS FOR THE YEAR TO 31ST DECEMBER 2021

2. Fixed Assets Investments

2. Fixed Assets Investments	2. Fixed Assets Investments	2. Fixed Assets Investments
At 1 January 2021 Addition/(Disposals) At 31st December 2021 Holding Cost Value Holding Cost Holding Cost Value Nos £ £ Nos £ Nos £ £ Schroder- Responsible Multi-Asset A Distribution 929,503.5 490,511 521,824 (424,665) (250,0000 504,839 240,500 252501.3 Schroder– Multi-Asset A Distribution 416,874.1 250,000 416,874.1 250,000 301,843.2 COIF Ethical Income Units 67,754.38 47,256 189,617 2,425.93 7,500 70,180.31 54,756 219,636 537,756 711,411 7,500 773,980
929,503.5 490,511 Schroder– Multi-Asset A Distribution COIF Ethical Income Units 67,754.38 47,256 537,756
67,754.38
	47,256 537,756	189,617 711,411

3. Grants - Unrestricted

Institutions Better Start St Vincent De Paul Society Food Banks Springfield Community Flat – Play schemes Royal Trinity Hospice The Nehemiah Project Notting Hill Genesis (Provided in 2019) Individuals Christmas Distribution – 2 (2020 – 2) Other grants – 61 (2020 – 54) Accrued/Prepaid	2021 2020 £ £ 325 400 - - 500 3,500 - 2,000 2,000 200 - 450 (2,468) 2,482 200 200 16,434 13,529 1427 (2,468) 22,486 16,211

Note: The description applies to the most recent year, where appropriate.

4. Trustees Expenses[ – No trustee received re-imbursement of ] individual expenses during the year (2020 – Nil.)