**Charity number: 1079480**
## **THE HENRY LUMLEY CHARITABLE TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2020**
## **THE HENRY LUMLEY CHARITABLE TRUST**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 5|
|**Independent examiner's report**|6 - 7|
|**Statement of financial activities**|8|
|**Balance sheet**|9|
|**Notes to the financial statements**|10 - 18|
**THE HENRY LUMLEY CHARITABLE TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Trustees**|Henry Lumley, Settler and Founder (deceased 6 May 2020)|
|---|---|
||Peter Lumley|
||Robert Lumley|
||James MacNish Porter|
||Julia McKay (appointed 8 July 2021)|
||Edwina Foster (appointed 8 July 2021)|
|**Charity registered**
**number**
1079480
**Principal office**
Grove End
Bagshot
Surrey
GU19 5HY
**Accountants**
Wise & Co
Chartered Accountants
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT
**Bankers**
Coutts & Co
440 Strand
London
WC2R 0QS
**Solicitors**
DAC Beachcroft LLP
100 Fetter Lane
London
EC4A 1BN
**Investment Manager**
Close Brothers Asset Management
10 Exchange Square
Primrose Street
London
EC2A 2BY
**Independent Examiner**
S D Knee Chartered Accountants
10 Bath Road
Swindon
SN1 4BA||
Page 1
## **THE HENRY LUMLEY CHARITABLE TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
The Trustees present their annual report together with the financial statements of Charity for the year 1 January 2020 to 31 December 2020.
## **Structure, Governance and Management**
The Charity was established by a Trust Deed dated 18 March 1997. The Settlor is the Founder of the Charity and he can appoint his successor, failing which the body of Trustees becomes the Founder. Trustees can be appointed by the Founder.
There were no changes in Trustees during the financial year. Julia McKay and Edwina Foster were appointed as Trustees on 8 July 2021.
Any new Trustees are made aware of their duties and responsibilities at the time of their appointment.
The Charity is a grant making charity and the Trustees meet twice a year to review investment performance, to determine which charities to support from a list provided by the Founder, and to discuss financial and all other matters arising.
The Trustees have assessed the major strategic, business and operational risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The Trustees will continue to keep under review the adequacy of the systems in place.
## **Objectives and Activities**
The policies adopted to further the specific charitable objects are to pursue the principal objectives of the trust, namely the furtherance of such charitable purposes in any part of the World, as put forward by the Founder, which the Trustees think fit.
The Trustees aim to achieve a balanced return from income and capital appreciation. It is anticipated that the income yield from the investment portfolio will be broadly in line with that provided by the FTSE All Share Index and that the income stream will maintain its value in real terms.
The Charity is only involved in grant making.
## **Achievements and Performance**
## _Grants_
Grants totalling £71,000 (2019: £98,500) were made by the Trustees during the year and these are detailed in the notes to these accounts.
## _Review of the Activities of the Charity_
Total incoming resources were £51,954 (2019: £77,190), other recognised gains totalled £91,898 (2019: £371,881) with £16,852 (2019: £12,752) being used to generate such funds, and £4,260 (2019: £6,132) being paid in respect of governance costs. The resulting net increase in the Charity's funds is £51,740 (2019: £331,687).
## _Investment Performance_
The Trustee's capital is invested via a mixture of cash and stock exchange investments. The value of the Trust's investment portfolio as at 31 December 2020 totalled £2,935,199 (2019: £2,791,452). The Trustees have reviewed the portfolio regularly and are satisfied with its performance.
Page 2
**THE HENRY LUMLEY CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## _Public Benefit_
The Trustees are satisfied that the objects and activities of the Charity follow the public benefit guidance as set out by the Charity Commission.
## **Financial Review**
The Charitable Trust's overall fund balances total £2,993,503 as at 31 December 2020 (2019: £2,941,763). It is noted that insufficient income was received during the year to fund all of its current financial commitments, following a large sale of investments in a prior year to fund a one off donation to the Royal College of Surgeons. Going forward, the Trustees do not plan to reduce the donations so they are in line with the income generated, instead they will utilise their power to make donations from Capital. There has been a heavier weighting of investments in the USA due to their markets outperforming other world markets. The USA works differently to the UK whereby it is not common to pay dividends but to rather improve the capital gain. Therefore, the Trustees feel that it is correct to utilise some of these gains to pay donations rather than prejudice the level of donations. The Trustees have delegated the operation of the investment portfolio to the investment managers who are responsible for meeting the Charity's investment objectives and who are measured against their benchmark.
## **Reserves**
The Trustees consider their investments as expendable endowments, providing a relatively secure and predictable stream of income from which to make grants. The Trustees normally aim to distribute a large percentage of income, net of expenses, in each financial year and therefore do not maintain income reserves as such. It is noted that the donations made during the year exceeded the income received for the year. Going forward, the Trustees do not plan to reduce the donations so they are in line with the income generated, instead they will utilise their power to make donations from Capital. However, income levels are continually reviewed by the Trustees at the twice-annual meetings to ensure that they have sufficient funds to meet with their objectives.
## **Impact of Covid-19**
The Trustees have, in consultation with Close Brother Asset Management at their meetings, considered the impact of Covid-19 on the performance and objectives of the Trust both in 2021 and in the years ahead. There is no doubt that the impact will be felt in the Trust's portfolio income returns as dividend yields and interest rates reduce. The effect on determining the level of grant funding will, therefore, be negatively impacted in 2021 and the Trustees have agreed to reduce the level of grants made available accordingly.
Consideration is being given to various strategic options to raise further charitable funds. The costs of running the Trust are in line with the Trustees expectations and given there are no employees of the Trust, the risks of a reduction in portfolio yields are reduced.
## **Investment Policy & Management**
This policy statement has been prepared by the Trustees to provide agreed investment policy to the investment manager when exercising the asset management functions that have been delegated to them by the Trustees. The operation of the investment portfolio has been delegated to Close Brothers with whom there is a discretionary agreement.
## **Investments**
## _Objectives_
To achieve a balanced return from income and capital appreciation. It is anticipated that the income yield from the investment portfolio will be broadly in line with that provided by the weighted benchmark detailed below and that the income stream will maintain its value in real terms.
Page 3
**THE HENRY LUMLEY CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## _Risk profile_
The Trustees recognise the risk associated with investment in mainstream financial markets and accept this risk in return for the prospect of additional returns over longer periods of time. As such, they wish to remain largely invested at all times, subject to cash reserves being held as part of the investment management process and to cover existing and forecast liabilities. They wish to moderate the risk of deviation of returns relative to the chosen benchmark.
## _Restrictions_
The investment manager is required to avoid purchasing investments which are deemed to be unsuitable in the context of the Trustees' objectives, when considering the portfolio as a whole and should seek to avoid investments that are not readily realisable. As there are no specific restrictions of investment powers under the governing deed, the Trustees have full discretion over the investments. The Trustees have, however, agreed not to invest in Hedge Funds or other similar products. The Trustees have delegated full responsibility to Close Brothers to have full discretionary day to day control of the investments. In accordance with the Trustee Act 2000, as this duty has been delegated, the Trustees have this Policy Statement in place. Also, in accordance with the Trustee Act 2000, the Trustees continue to regularly review the policies.
## _Benchmark_
The weighted benchmark for types of investments is as follows:
||Portfolio weighting (%)|
|---|---|
|Fixed Interest|32.50|
|Equities|62.50|
|Commodities|2.50|
|Cash|2.50|
## _Communication and Review_
The investment manager will provide half yearly reports which will include a statement confirming adherence to this policy statement or providing details of exceptions together with explanations. The report will also include a comparison of the portfolio return in relation to the benchmark as well as a comparison against the original capital investment. Major deviations will be examined and explained.
## **Plans for the Future**
The Trustees continue to consider written applications for funding from individuals and other charitable organisations. They hold unrestricted funds and so all funds are available to meet the Charity's objectives and are satisfied that the Charity's assets are available and adequate to fulfil its current objectives which continue for the foreseeable future.
Page 4
## **THE HENRY LUMLEY CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
## **Peter Lumley**
Date: 27 October 2021
Page 5
## **THE HENRY LUMLEY CHARITABLE TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Independent examiner's report to the Trustees of The Henry Lumley Charitable Trust ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2020.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Page 6
## **THE HENRY LUMLEY CHARITABLE TRUST**
**INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: SD Knee
Dated: 27 October 2021 Chartered Accountant
10 Bath Road, Swindon, SN1 4BA
Page 7
## **THE HENRY LUMLEY CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Note**
**Income from:**
Investments
3
**Total income**
**Expenditure on:**
Raising funds
4
Charitable activities
5
**Total expenditure**
**Net expenditure before net gains on investments**
Net gains on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2020**
**£**
**51,954**
**51,954**
**16,852**
**75,260**
**92,112**
**(40,158)**
**91,898**
**51,740**
**2,941,763**
**51,740**
**2,993,503**|**Total**
**funds**
**2020**
**£**
**51,954**
**51,954**
**16,852**
**75,260**
**92,112**
**(40,158)**
**91,898**
**51,740**
**2,941,763**
**51,740**
**2,993,503**|_Total_
_funds_
**2019**
_£_
_77,190_
_77,190_
_12,752_
_104,632_
_117,384_
_(40,194)_
_371,881_
_331,687_
_2,610,076_
_331,687_
_2,941,763_|
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 18 form part of these financial statements.
Page 8
## **THE HENRY LUMLEY CHARITABLE TRUST**
## **BALANCE SHEET AS AT 31 DECEMBER 2020**
|**Note**
**Fixed assets**
Investments
10
**Current assets**
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Unrestricted funds
14
**Total funds**|**8,348**
**104,948**
**113,296**
**(54,992)**|**2020**
**£**
**2,935,199**
**58,304**
**2,993,503**
**2,993,503**
**2,993,503**
**2,993,503**|_8,348_
_185,296_
_193,644_
_(43,333)_|**2019**
_£_
_2,791,452_
_150,311_|
|---|---|---|---|---|
|||||_2,941,763_|
||||||
|||||_2,941,763_|
|||||_2,941,763_|
||||||
|||||_2,941,763_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## **Peter Lumley**
Date: 27 October 2021
The notes on pages 10 to 18 form part of these financial statements.
Page 9
## **THE HENRY LUMLEY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. General information**
The Henry Lumley Charitable Trust, (charity number: 1079480), is an unincorporated Trust. It is governed by its Declaration of Trust dated 18 March 1997.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Henry Lumley Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
The trustees consider that there are no material uncertainties about the trust's ability to continue as a going concern. The trust has significant capital reserves and a diversified investment strategy to ensure a consistent income.
## **2.3 Income**
Investment income is included in the financial statements when receivable and includes any due for payment by the balance sheet date, whether or not received. Interest on bank and stockbroker deposits is included on the basis of the amounts actually received during the year.
## **2.4 Expenditure**
All expenditure is accounted for on an accruals basis and has been listed under headings that aggregate all the costs directly attributable to that activity. Where costs (including overheads) cannot be directly attributed they have been allocated to activities on a basis consistent with the use of resources and the time spent on those activities.
Direct costs of generating funds are those costs incurred in managing the investments to raise investment income.
Support costs are those which relate to the general running of the charity and are included within charitable activities.
Page 10
## **THE HENRY LUMLEY CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2. Accounting policies (continued)**
## **2.4 Expenditure (continued)**
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 Taxation**
The trust is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.
## **2.6 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date.
Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities. Realised gains and losses are calculated as the difference between sales proceeds and opening market values (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (purchase date if later).
## **2.7 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.8 Liabilities**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.9 Fund accounting**
General funds are unrestricted 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.
Investment income, gains and losses are allocated to the appropriate fund.
Page 11
## **THE HENRY LUMLEY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **3. Investment income**
|Income from listed investments
_Total 2019_|**Unrestricted**
**funds**
**2020**
**£**
51,954
_77,190_|**Total**
**funds**
**2020**
**£**
**51,954**
_77,190_|**Total**
**funds**
**2019**
_£_
_77,190_|
|---|---|---|---|
## **4. Expenditure on raising funds**
|Investment management fees
_Total 2019_|**Unrestricted**
**funds**
**2020**
**£**
16,852
_12,752_|**Total**
**funds**
**2020**
**£**
**16,852**
_12,752_|**Total**
**funds**
**2019**
_£_
_12,752_|
|---|---|---|---|
## **5. Expenditure on charitable activities**
## **Summary by fund type**
|Charitable grants
6
Governance costs
7
**Total 2020**
_Total 2019_|**Unrestricted**
**funds**
**2020**
**£**
71,000
4,260
75,260
_104,632_|**Total**
**funds**
**2020**
**£**
**71,000**
**4,260**
**75,260**
_104,632_|**Total**
**funds**
**2019**
_£_
_98,500_
_6,132_
_104,632_|
|---|---|---|---|
Page 12
## **THE HENRY LUMLEY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **6. Charitable grants**
|**Medical**
Alzheimer's Society
Arthritis UK
Asthma UK
Autistica
Bowel Disease Research Foundation
British Liver Trust
Cancer Research UK
Cure Parkinson's Trust
Dermatrust
Diabetes UK
Epilepsy Action
International Spinal Research Trust
Juvenile Diabetes Research Foundation (JDRF)
Kidney Research UK
Prostate Cancer UK
Stroke Association
University of Cambridge
**Educational**
Gordon Foundation
Outward Bound Trust
**Relief of Poverty and Hardship**
Gurkha Welfare Trust
Royal Star and Garter Home for Disabled Ex-Service Men and Women|**2020**
**£**
**5,000**
**-**
**5,000**
**-**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**-**
**-**
**-**
**5,000**
**5,000**
**5,000**
**60,000**
**-**
**2,500**
**2,500**
**2,500**
**-**
**2,500**|**2019**
_£_
_5,000_
_5,000_
_5,000_
_2,500_
_5,000_
_5,000_
_5,000_
_5,000_
_-_
_5,000_
_5,000_
_5,000_
_5,000_
_5,000_
_5,000_
_5,000_
_5,000_|
|---|---|---|
|||_77,500_
_2,500_
_2,500_|
|||_5,000_
_2,500_
_2,500_|
|||_5,000_|
Page 13
## **THE HENRY LUMLEY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Other**
|Army Benevolent Fund
Community Foundation for Surrey
Royal School of Needlework
Surrey Boys Club
**Total grants made in the year**|**-**
**5,000**
**1,000**
**-**
**6,000**
**71,000**|_2,500_
_5,000_
_1,000_
_2,500_|
|---|---|---|
|||_11,000_|
|||_98,500_|
## **7. Governance costs**
|Accountancy fees
Independent Examiner fees
Bank charges|**2020**
**£**
**2,460**
**900**
**900**
**4,260**|**2019**
_£_
_4,632_
_900_
_600_|
|---|---|---|
|||_6,132_|
## **8. Independent examiner's remuneration**
||**2020**|**2019**|
|---|---|---|
||**£**|_£_|
|Fees payable to the Charity's independent examiner for the independent|||
|examination of the Charity's annual accounts|**900**|_900_|
## **9. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2019 - £NIL)_ .
During the year ended 31 December 2020, no Trustee expenses have been incurred _(2019 - £NIL)_ .
Page 14
## **THE HENRY LUMLEY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **10. Fixed asset investments**
|Market value at 1 January 2020
Additions at cost
Disposals at carrying value
Net gain on revaluation
Market value at 31 December 2020|**Listed**
**investments**
**£**
**2,791,452**
**781,743**
**(802,776)**
**164,780**|
|---|---|
||**2,935,199**|
Investments held at 31 December 2020 and that are material, in that they represent more than 5% of the total market value of the Charity's holdings, are as follows:
|ASI Global Inflation-linked bond
ASI Investment Grade Corporate BD
J Henderson Strategic Bond
**Debtors**
**Due within one year**
HMRC - income tax recoverable|**Holding**
**£**
120,000
320,000
146,000
**2020**
**£**
**8,348**|**Market**
**value**
_£_
203,760
218,688
217,102
**2019**
_£_
_8,348_|
|---|---|---|
## **11. Debtors**
Page 15
## **THE HENRY LUMLEY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **12. Creditors: Amounts falling due within one year**
|Accruals
Grants payable
**Reconciliation of grants payable**
Commitments at 1 January
Grants made in the year
Grants paid during the year
**Commitments at 31 December**|**2020**
**£**
**12,492**
**42,500**
**54,992**
**2020**
**£**
**32,500**
**71,000**
**(61,000)**
**42,500**|**2019**
_£_
_10,833_
_32,500_
_43,333_
**2019**
_£_
_45,000_
_98,500_
_(111,000)_
_32,500_|
|---|---|---|
## **13. Reconciliation of grants payable**
Page 16
## **THE HENRY LUMLEY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **14. Statement of funds**
## **Statement of funds - current year**
|**Balance at 1**
**January**
**2020**
**£**
**Unrestricted funds**
Revenue fund
**(1,343,459)**
Capital fund
**4,285,222**
**2,941,763**
**Statement of funds - prior year**
_Balance at_
_1 January_
_2019_
_£_
**Unrestricted funds**
Revenue fund
_(1,320,391)_
Capital fund
_3,930,467_
_2,610,076_|**Income**
**£**
**51,954**
**-**
**51,954**
_Income_
_£_
_77,190_
_-_
_77,190_|**Expenditure**
**£**
**(72,065)**
**(20,047)**
**(92,112)**
_Expenditure_
_£_
_(100,258)_
_(17,126)_
_(117,384)_|**Gains/**
**(Losses)**
**£**
**-**
**91,898**
**91,898**
_Gains/_
_(Losses)_
_£_
_-_
_371,881_
_371,881_|**Balance at**
**31**
**December**
**2020**
**£**
**(1,363,570)**
**4,357,073**
**2,993,503**
_Balance at_
_31_
_December_
_2019_
_£_
_(1,343,459)_
_4,285,222_
_2,941,763_|
|---|---|---|---|---|
|**Unrestricted funds**
Revenue fund
Capital fund|||||
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## **THE HENRY LUMLEY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **15. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|Fixed asset investments
Current assets
Creditors due within one year
**Total**|**Unrestricted**
**funds**
**2020**
**£**
2,935,199
113,296
(54,992)
2,993,503|**Total**
**funds**
**2020**
**£**
**2,935,199**
**113,296**
**(54,992)**
**2,993,503**|
|---|---|---|
## **Analysis of net assets between funds - prior period**
|Fixed asset investments
Current assets
Creditors due within one year
**Total**|**Unrestricted**
**funds**
**2019**
_£_
_2,791,452_
_193,644_
_(43,333)_
_2,941,763_|**Total**
**funds**
**2019**
_£_
_2,791,452_
_193,644_
_(43,333)_
_2,941,763_|
|---|---|---|
## **16. Related party transactions**
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 December 2020.
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