2022-12-31-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 2022

THE CLAPHAM RELIEF FUND

INDEX TO ACCOUNTS SCHEDULES

YEAR TO 31ST DECEMBER 2022

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 2022

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 2022:

	Meetings
Attended
Frank Brown	3
Diana Cornforth	3
Carole Glasson	3
Chris Newman (Treasurer)	3
Girda Niles	2
Jackie Parkin	3
Penny Rose-Casemore	2
Claire Whittle (Chair)	4
Nick Harrison (New Trustee)	1
Alison Inglis-Jones (New Trustee)	1

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 2022

The Trustees are pleased to present their report and the financial statements of the fund for the year to 31st December 2022. 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 2022

During 2022 Clapham Relief Fund continued to work to support those living in our area of benefit with financial grants. We received application requests from both individuals and organisations within the Clapham area.

During the year we met every quarter and it was lovely to be completely back to meeting in person, face to face, to discuss the applications, award financial grants and drive the Fund forward.

We continued to receive a good number of applications from both individuals and from some organisations. Grants were only awarded if the applicant demonstrated their need and fitted our criteria. If more information was needed before a decision was made, our secretary would go back to the sponsor and applicant and ask for further information. As a group, all trustees take the responsibility of their position seriously and always ensure that the grants are only awarded if they are confident the criteria has been met.

In these quarterly meetings we heard from our Treasurer regarding the finances of the Fund to ensure that our investments were in good health. Annually, we also invite our account manager from Cazenove to come and discuss our portfolio. This is an opportunity for the trustees to ask questions and ensure that we all have a good understanding of these investments. Our manager at Cazenove is always available to answer questions and make additional investments on our behalf throughout the year. We are grateful for their expertise in overseeing our investments and taking the time to ensure we have an understanding of the markets.

During 2022 we embarked in a recruitment process for a new trustee, as there was a vacancy. We placed advertisements both locally and nationally for the position and we were delighted with the incredibly high quality of the applications that we received. As a result we interviewed all that applied and we decided to in fact appoint 2 new trustees. At the end of the year we welcomed Dr. Nick Harrison and Cllr. Alison Inglis-Jones to the board. I am delighted they have joined us and look forward to them adding to the Clapham Relief Fund.

As always, there are a number of sincere thanks I would like to give. Firstly, I would like to thank Chris Newman for all the hard work he does throughout the year as our Treasurer and in his work to prepare these accounts. To our accountant, Judith Brookfield, thank you for independently examining these accounts. 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 gift us the room that we meet in.

Finally and most importantly, I would sincerely thank my fellow trustees for their continued dedication and time, which they give to Clapham Relief Fund. Their skill, expertise and interpretation of the grants ensures we make thoughtful decisions that are responsible to both the fund and the applicants that we support.

Thank you all who contributed to the Clapham Relief Fund this year and have helped to ensure it continues to help those in need within our area of benefit. We look forward to the Fund 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 2022. 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 2022

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 31st October 2023 and signed on their behalf.

Claire Whittle Chair

Brookfield & Co For thpyw¢Thknl JI 2Q2 11 Co•tM••* A••d SW2 SfA •21ml 671• •2• 171117L7

THE CLAPHAM RELIEF FUND

STATEMENT OF FINANCIAL ACTIVITIES

YEAR TO 31ST DECEMBER 2022

	Note	Un –Restricted Funds	Un –Restricted Funds	Endowment Funds	Total 2022	Total 2021
		Distribut- able	Retained Total
		£	£ £	£	£	£
INCOMING RESOURCES
Investment Income
Dividends		26,107	26,107	-	26,107 25,545
Interest - Fixed Interest Securities		-	-	-	- -
Bank and deposit interest Refunds		30 173	30 173	-	30 173 - 519
Grant from HenrySmith Charity		8,200	8,200	-	8,200 0
Donations		0	0	-	0 0
		34,510	34,510	-	34,510 26,064
RESOURCES EXPENDED

Charitable Activities -Grants	3	22,250	22,250	-	22,250 22,486

Governance Costs
Independent Examiner’s fees		673	673	-	673 600

		673	673	-	673 600
Other Support Costs
Clerk’s Honorarium		985	985	-	985 985
Printing,stationeryandpostage		-	-	-	- 20
PO Box		360	360	-	360 353
Publications		10	10	-	10 -
Website maintenance		235	235	-	235 235

Bank Charges		81	81	-	81 115
		1,661	1,661	-	1,661 1,708

Total Resources Expended		24,584	24,584	-	24,584 24,794

Net Income/-Resources Expended		9,926	9,926	-	9,926 1,270

Other Recognised Surpluses
Investments:
Surplus/(deficit) on revaluation	2		(56,962) (56,962)	(27,638)	(84,600) 55,039
Profit/-loss on disposals
Transfer between funds	1	(11,200)	8,200 (3,000)	3,000	- -
Net Movement in Funds		(1,274)	(48,762) (50,036)	(24,638)	(74,674) 56,309
Surplus 1st January		27,242	540,640 567,882	219,636	787,518 731,209
Surplus 31st December		25,968	491,878 517,846	194,998	712,844 787,518

THE CLAPHAM RELIEF FUND

BALANCE SHEET AS AT 31ST DECEMBER 2022

Note £ Fixed Assets Investments 2 Current Assets Debtors and Prepayments - Cash on deposit - CAF Gold Acc 2,510 Cash at bank current accounts: CAF Bank 10,454 12,964 Current Liabilities Accruals 700 Net Current Assets Net Assets FUNDS Endowed Page 9 Unrestricted Page 9 Retained 491,878 Distributable 25,968	2022 £ £ 700,580 - 2,500 12,295 14,795 1,257 12,264 712,844 194,998 540,640 27,242 517,846 712,844	2021 £ 773,980 13,538
		787,518
		219,636 567,882
		787,518

Approved by the Trustees on 30 October 2023 and signed on their behalf by:

C Whittle – Chair

C Newman – Treasurer

THE CLAPHAM RELIEF FUND

NOTES TO THE ACCOUNTS FOR THE YEAR TO 31ST DECEMBER 2022

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 71,252.81 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 2022

2. Fixed Assets Investments

2. Fixed Assets Investments	2. Fixed Assets Investments	2. Fixed Assets Investments	2. Fixed Assets Investments	2. Fixed Assets Investments
At 1 January 2022					Addition/(Disposals)		At 31st December 2022
Holding	Cost		Value		Holding	Cost	Holding	Cost	Value
Nos	£		£		Nos	£	Nos	£	£

Schroder- Responsible Multi-Asset A Distribution
504,839	240,500			252,501			504,839	240,500	270,695
Schroder– Multi-Asset A Distribution
416,874		250000		301,843	15,222	8,200	432096	258,200	234,888
COIF Ethical Income Units
70180		54,756		219,636	1,072	3,000	712582	57,756	194,997

		545256		773,980		11,200		556,456	700,580

3. Grants – Unrestricted
	2022	2021
	£		£
Institutions
Better Start St Vincent De Paul Society	300		325 400
LearningUnlimited	2,197		-
Springfield Community Flat – Play schemes Royal Trinity Hospice	5,366 2,000		3,500 -
The Nehemiah Project			200

Individuals
Christmas Distribution – 2 (2021 – 2)	200		200
Other grants–52 (2021–61)	12,187		16,434
Accrued/Prepaid	-		1427
	22,250		22,486
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 (2021–Nil.)