2023-12-31-accounts

THE CLAPHAM RELIEF FUND

Charity No. 1074562

TRUSTEES REPORT AND ACCOUNTS

FOR THE

YEAR TO 31ST DECEMBER 2023

1

THE CLAPHAM RELIEF FUND

INDEX TO ACCOUNTS SCHEDULES

YEAR TO 31ST DECEMBER 2023

2. Index

1. Trustees and Other Information

2. • 1. Trustees Report

3. Independent Examiner’s Report

4. Statement of Financial Activities

10. Balance Sheet

1. • 1. Notes to the Accounts

2

THE CLAPHAM RELIEF FUND

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

YEAR TO 31ST DECEMBER 2023

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 2023:

Meetings

Attended

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

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THE CLAPHAM RELIEF FUND

TRUSTEES REPORT - YEAR TO 31ST DECEMBER 2023

The Trustees are pleased to present their report and the financial statements of the fund for the year to 31st December 2023. 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”.

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CHAIR’S REPORT - YEAR TO 31[ST] DECEMBER 2023

In 2023 Clapham Relief Fund continued to support those in need living within the Clapham area. We gave financial grants to both individuals and organisations, with both groups needing to submit application requests in order to qualify. All requests clearly stated the case for support as well as details of the items needed. For individual applications they had to be supported by a sponsor, who would also facilitate the purchase and for organisations they had to show that a number of individuals from the area would benefit. Any grant would only be awarded if the applicant demonstrated the need and fitted within our tight criteria. If more information or clarification was needed this would be asked for before any decision was made.

Over the year the trustees met every quarter to discuss the applications, award the financial grants as well as ensuring that the Fund was running as efficiently and effectively as possible. Every quarter the Treasurer would report back on the financial health of the fund, including how much was available to be gifted to the applications under discussion. In addition, discussions and agreement would also be made regarding investment of any excess funds. To support this our account manager from Cazenove would be invited annually to the meeting to come and discuss our portfolio. This was an opportunity for the trustees to ask questions and ensure that we all had a good understanding of our investments and trends within the financial markets. In addition, Cazenove is also 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 a good understanding of the markets so we feel confident in our decisions involving our investments.

As always, there are a number of sincere thanks I would like to give. Firstly, I would like to thank our Treasurer, Chris Newman for all the hard work he does throughout the year and in his work to preparing 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 applications ensures that we make thoughtful decisions that are responsible to both the fund and the applicants that we support.

Thank you to all who contributed to Clapham Relief Fund this year. We all look forward to the Fund continuing to provide help and support in the coming year.

cA Uhitte Claire Whittle Chair

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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 2023. 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.

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THE CLAPHAM RELIEF FUND

TRUSTEES REPORT - YEAR TO 31ST DECEMBER 2023

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 30th October 2023 and signed on their behalf.

Claire Whittle Chair

7

Independent Examiners’ Report

Report of the Independent Examiner to the Directors of THE CLAPHAM RELIEF FUND For the year ended 31 December 2023

We report on the financial statements for the year ended 31 December 2023 disclosing a surplus of £34,769, which have been prepared on the basis of the accounting policies in note 1.

Respective responsibilities of the Board of Trustees and Independent Examiner

The Board of Trustees is responsible for the preparation of the financial statements. It is our responsibility to form an independent opinion, based on our work, on those statements and to report our opinion to you.

Basis of Independent Examiner's Report

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, seeking explanations from the Board of Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently we do not express an audit opinion on the view given by these accounts.

Independent Examiners Statement

In connection with our examination, no matter has come to our attention which gives us a reasonable cause to believe that in any material aspects the requirements to keep the accounting records in accordance with the Charities Act and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met or to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

30th October 2024

Signed by J A Brookfield, as senior statutory auditor on behalf of

Brookfield & Co Chartered Accountants Registered auditors

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THE CLAPHAM RELIEF FUND STATEMENT OF FINANCIAL ACTIVITIES YEAR TO 31ST DECEMBER 2023

	Note	Un	–Restricted		Endowment	Total	Total
			Funds		Funds	2023	2022
	Distribut-		Retained	Total
		able
		£	£	£	£	£	£
INCOMING RESOURCES
Investment Income
Dividends		26,923		26,923	-	26,923	26,107
Interest - Fixed Interest Securities		-		-	-	-	-
Bank and deposit interest		71		71		71	30
Refunds		500		500		500	173
Grant from Henry Smith Charity		-		-	-	-	8,200
Donations		-		-	-	-	--
		27,494		27,494	-	27,494	34,510
RESOURCES EXPENDED
Charitable Activities -Grants	3	23,128		23,128	-	23,128	22,250
Governance Costs
Independent Examiner’s fees		710		710	-	710	673
Other Support Costs
Clerk’s Honorarium		-		-	-	-	985
Printing, stationery and postage		-		-	-	-	-
PO Box		378		378	-	378	360
Publications		12		12	-	12	-
Website maintenance		235		235	-	235	235
Bank Charges		60		60	-	60	81
		685		685	-	685	1,661
Total Resources Expended		24,523		24,523	-	24,523	24,584
Net Income/-Resources Expended		2,971		2,971	-	2,971	9,926
Other Recognised Surpluses
Investments:
Surplus/(deficit) on revaluation	2		4,323	4,323	19,473	23,796	(84,600)
Profit/-loss on disposals			8,002	8,002	-	8,002
Transfer between funds	1					-	-
Net Movement in Funds		2,971	12,325	15,296	19,473	34,769	(74,674)
Surplus 1stJanuary		25,968	491,878 517,846		194,998	712,844	787,518
Surplus 31stDecember		28,939	504,203 533,142		214,471	747,613	712,844

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THE CLAPHAM RELIEF FUND

BALANCE SHEET AS AT 31ST DECEMBER 2023

	Note		2023		2022
		£	£	£	£
Fixed Assets
Investments	2	732,379	732,379	732,379	700,580	700,580
Current Assets
Debtors and Prepayments		-		-
Cash on deposit - CAF Gold Acc		2,557		2,510
Cash at bank current accounts:
CAF Bank		14,087		10,454
		16,644		12,964
Current Liabilities
Accruals		1410		700
Net Current Assets			15,234	15,234	12,264	12,264
Net Assets			747,613	747,613	712,844	712,844
FUNDS
	Page
Endowed	9
		214,471	214,471	214,471	194,998	194,998
	Page
Unrestricted	9
Retained		504,203		491,878
Distributable		28,939		25,968
		533,142	533,142	533,142	517,846	517,846
			747,613	747,613	712,844	712,844

Approved by the Trustees on 30th October 2024 and signed on their behalf by:

C Whittle – Chair

Ze

C Newman – Treasurer

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THE CLAPHAM RELIEF FUND

NOTES TO THE ACCOUNTS FOR THE YEAR TO 31ST DECEMBER 2023

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.

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THE CLAPHAM RELIEF FUND

NOTES TO THE ACCOUNTS FOR THE YEAR TO 31ST DECEMBER 2023

2. Fixed Assets Investments

2. Fixed Assets Investments
At 1 January 2023 Addition/(Disposals) At 31st December 2023 Holding Cost Value Holding Cost Holding Cost Nos £ £ Nos £ Nos £ Schroder- Responsible Multi-Asset A Distribution 504,839 240,500 270,695 494,891 266,202 926,987 506,702 Schroder– Multi-Asset A Distribution 432096 258,200 234,888 -432096 (258,200) - - COIF Ethical Income Units 71252 57,756 194,997 71252 57,756 556,456 700,580 Surplus 8,002 564,458	Value £ 517,908 - 214,471 732,379
504,839 240,500 Schroder– Multi-Asset A Distribution 432096 258,200 COIF Ethical Income Units 71252 57,756 556,456
71252

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3. Grants – Unrestricted

3. Grants – Unrestricted
Institutions Maytree Nursery St Vincent De Paul Society Learning Unlimited Springfield Community Flat – Play schemes Royal Trinity Hospice Omnibus Routes Individuals Christmas Distribution – 0 (2022 – 2) Other grants – 51 (2022 – 52) Accrued/Prepaid	2023 2022 £ £ 2,000 - - 300 3,000 2,197 3,300 2,000 5,366 2,000 300 - 200 12,528 12,187 - - 23,128 22,250
		22,250

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 (2022 – Nil.)

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