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2022-12-31-accounts

Charity Registration No. 1091018

THE LEONARD CHAMBERLAIN TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Fawley Judge & Easton Chartered Certified Accountants 1 Parliament Street

Hull East Yorkshire HU1 2AS

THE LEONARD CHAMBERLAIN TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr M R Tracey
Mr B E Cundill
Mr J P Williams
Mrs J E Allen
Charity number 1091018
Principal address 8 College Street
Sutton
Hull
HU7 4UE
Auditor Fawley Judge & Easton
Chartered Certified Accountants
1 Parliament Street
Hull
East Yorkshire
HU1 2AS
Bankers Co-operative Bank
PO Box 250
Skelmersdale
WN8 6WT
Solicitors A M Jackson & Co
Marina Court
Castle Street
Hull
East Yorkshire
HU1 1TJ
Land Agent Leonards
512 Holderness Road
Hull
HU9 3DS

THE LEONARD CHAMBERLAIN TRUST

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent auditor's report 4 - 5
Statement of financial activities 6 - 7
Balance sheet 8
Notes to the financial statements 9 - 22

THE LEONARD CHAMBERLAIN TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees present their annual report and financial statements for the year ended 31 December 2022.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity commission scheme, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The charity's objects are:

  1. To provide housing accommodation for poor persons of good character resident in the area of benefit.

  2. To advance the Unitarian and Christian religions in such ways as the trustees think fit (including training of Ministers for the Unitarian and Free Christian Churches) but in particular to assist the Hull Unitarian Church and other non-conformist churches in the area of benefit.

  3. To promote the education of persons under 25 who are in need of financial assistance and are resident in the area of benefit.

  4. To relieve persons’ resident in the area of benefit who are in need, hardship or distress.

Achievements and performance

Financial review

At 1st January 2006 the Trustees reviewed the estimated useful lives of the housing properties and their estimated residual values. The Trustees are of the opinion that the housing properties’ residual value is not less than the current carrying amounts being the net book value at 31st December 2005.

It is the policy of the Trust to maintain unrestricted funds, which are the free reserves of the Trust at a level equivalent to at least 6 months’ expenditure. Other funds are utilised to provide for the major repair and replacement of housing stock, the cyclical repair of the housing stock and repairs and improvements to the farms held as investments.

After taking into account investment income, charitable donations and grants of £128,005 but excluding unrealised losses, the unrestricted and designated funds show a net surplus for the year of £31,291. During the period under review the net assets of the Charity have decreased by £178,211.

The state of the Trust’s affairs is satisfactory.

There are no restrictions on the Trust’s power to invest. The investment strategy is set by the Trustees and is reviewed annually. It takes account of the income requirements, the risk profile and the future replacement of housing stock.

Grants are paid to suitable applicants in accordance with the Trust Deed criteria at the Trustees discretion and dependent on the net income of the Trust.

Risk Management

The Trustees monitor on an on-going basis the major strategic, business and operational risks which the Trust faces.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for the Future

In 2022 it was agreed to fund Emmaus (Hull) to the tune of £100K over the next five years.

THE LEONARD CHAMBERLAIN TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management

The charity is a charitable trust founded by the Will of Leonard Chamberlain in 1716 and is currently constituted under a scheme dated 30th July 2001. Registered Charity number 1091018.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr M R Tracey

Mr B E Cundill Mr J P Williams Mrs J E Allen

The appointment and powers of the Trustees are governed by the Trust Deed.

The day to day operation of the charity is delegated to the secretary who will report to the Chairman weekly and the Trustees at least quarterly. Any major decisions are made by the Trustees and carried out by the Secretary.

The trustees' report was approved by the Board of Trustees.

Mr M R Tracey Trustee Dated: 26 July 2023

THE LEONARD CHAMBERLAIN TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2022

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 and 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 the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that 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.

THE LEONARD CHAMBERLAIN TRUST

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE LEONARD CHAMBERLAIN TRUST

Opinion

We have audited the financial statements of The Leonard Chamberlain Trust (the ‘charity’) for the year ended 31 December 2022 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

THE LEONARD CHAMBERLAIN TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE LEONARD CHAMBERLAIN TRUST

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements 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)" (as amended) 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 now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Leathley (Senior Statutory Auditor) for and on behalf of Fawley Judge & Easton 26 July 2023 Chartered Certified Accountants Statutory Auditor 1 Parliament Street Hull East Yorkshire HU1 2AS

Fawley Judge & Easton is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

THE LEONARD CHAMBERLAIN TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted Endowment
Restricted
Total
Unrestricted Endowment
Restricted
funds
funds
funds
funds
funds
funds
designated
designated
2022
2022
2022
2022
2021
2021
2021
Notes
£
£
£
£
£
£
£
Income and endowments from:
Weekly maintenance contributions
3
137,793
-
-
137,793
138,251
-
-
Charity Investment Income
4
128,005
-
-
128,005
124,706
-
-
Other income
5
4,000
-
-
4,000
4,000
-
-
Total income
269,798
-
-
269,798
266,957
-
-
Expenditure on:
Charity investment expenditure
6
14,228
-
-
14,228
24,960
-
-
Charitable activities
7
220,279
-
-
220,279
182,833
-
-
Other
12
4,000
-
-
4,000
4,000
-
-
Total expenditure
238,507
-
-
238,507
211,793
-
-
Net gains/(losses) on investments
13
(90,623)
(58,205)
(9,233)
(158,061)
136,297
100,789
78,994
Net movement in funds
(59,332)
(58,205)
(9,233)
(126,770)
191,461
100,789
78,994		 Total
2021
£
138,251
124,706
4,000
266,957
24,960
182,833
4,000
211,793
316,080
371,244

THE LEONARD CHAMBERLAIN TRUST

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted Endowment
Restricted
funds
funds
funds
designated
2022
2022
2022
Notes
£
£
£
Net movement in funds
(59,332)
(58,205)
(9,233)
Fund balances at 1 January 2022
1,262,724
796,793
7,054,663
Fund balances at 31 December 2022
1,203,392
738,588
7,045,430		 Total
Unrestricted Endowment
Restricted
funds
funds
funds
designated
2022
2021
2021
2021
£
£
£
£
(126,770)
191,461
100,789
78,994
9,114,180
1,071,263
696,004
6,975,669
8,987,410
1,262,724
796,793
7,054,663		 Total
2021
£
371,244
8,742,936
9,114,180

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

THE LEONARD CHAMBERLAIN TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2022

Notes
Fixed assets
Tangible assets
15
Investments
16
Current assets
Debtors
17
Cash at bank and in hand
Creditors: amounts falling due within
one year
18
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
19
Net assets
Income funds
Restricted funds
Endowment funds - designated
Unrestricted funds		 2022
£
£
6,733,255
2,320,629
9,053,884
-
55,078
55,078
(5,195)
49,883
9,103,767
(116,357)
8,987,410
7,045,430
738,588
1,203,392
8,987,410		 2021
£
£
6,733,255
2,358,712
9,091,967
1,228
155,137
156,365
(17,795)
138,570
9,230,537
(116,357)
9,114,180
7,054,663
796,793
1,262,724
9,114,180

The accounts were approved by the Trustees on 26 July 2023

Mr M R Tracey Mr B E Cundill Trustee Trustee

Mrs J E Allen Mr J P Williams Trustee Trustee

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

Charity information

The Leonard Chamberlain Trust was founded by the Will of Leonard Chamberlain in 1716 and is currently constituted under a scheme dated 30th July 2001. Registered Charity number 1091018.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "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 charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees In accordance with the Trust Deed:

Extraordinary Repair Fund – to be used for the extra ordinary repair, improvement or rebuilding of the homes. Costs of extraordinary repair are written off in the year incurred and the Housing properties re-valued accordingly. A transfer of an amount which is to be determined on an annual basis is to be made to provide funds for the future refurbishment and enhancement of the Housing Properties.

Cyclical Maintenance Fund - All costs in respect of ordinary repair and cyclical maintenance are written off in the year incurred. However, a Cyclical Maintenance Fund is required by the governing instrument and is a reserve fund currently maintained at 14,836.61 COIF income shares. This is reviewed on a 5 yearly basis

Restricted funds represents the original assets settled on the Trustees and must be held permanently by the Trust. Any surplus or deficit on the capital value of these assets is allocated to the Permanent Endowment. Income arising can be used in accordance with the objects of the Trust and is unrestricted.

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

1.4 Income

Income is recognised when the charity is legally entitled to it and it is probable that income will be received.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have ben allocated to activities on a basis consistent with the use of resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings not depreciated Farms and Woodhouse Cottage not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

3 Weekly maintenance contributions

Weekly maintenance contribution

Sutton 1 Sutton 2 Sutton 3 Selby Kingfisher Total Total
Rise 2022 2021
2022 2022 2022 2022 2022
£ £ £ £ £ £ £
4376 24138 26368 59952 22959 137793 138251

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

4 Charity Investment Income

2022 2021
£ £
Rental income -
Abbey Farm 30,650 31,756
Decoy Farm 24,250 23,875
Woodhouse cottage 10,219 9,450
Kingfisher Rise
- 1 tenanted flat 6,237 8,494
Investment income fund 52,291 47,076
Income from Solar Panels 4,358 4,055
128,005 124,706
5 Other income
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Kingfisher management charge 4,000 4,000
6 Charity investment expenditure
2022 2021
£ £
Expenditure in respect of Investments
Abbey Farm 4,483 17,134
Decoy Farm 5,154 3,550
Woodhouse Cottage 3,096 1,207
Kingfisher Rise - 1 tenanted flat 1,495 3,069
Expenditure in respect of Investments 14,228 24,960
14,228 24,960
For the year ended 31 December 2021
Expenditure in respect of Investments 24,960

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

7
Charitable activities
Number of Properties
1
Sutton 1
6
Sutton 2
7
Sutton 3
£
£
£
Staff costs
571
3,423
3,994
Electricity
35
-
187
Insurance
501
750
939
Council tax
-
-
183
Service charge
-
-
-
Repairs and maintenance
397
6,734
34,048
Clause 2 - Advancement of Hull Unitarian Church, other
churches and promoting the Unitarian cause
-
-
-
Clause 3 - Promotion of education
-
-
-
Clause 4 - Relief of need (see note)
-
-
-
1,504
10,907
39,351
Share of support costs (see note 9)
181
1,088
1,269
Share of governance costs (see note 9)
237
1,422
1,658
1,922
13,417
42,278
Analysis by fund
Unrestricted funds
1,922
13,417
42,278
1,922
13,417
42,278
For the year ended 31 December 2021
Unrestricted funds
6,096
10,909
18,383
6,096
10,909
18,383		 12
Selby
7
Kingfisher
Rise
Charitable
donations
£
£
£
6,847
3,994
-
-
265
-
1,741
-
-
-
62
-
-
6,510
-
5,185
18,987
-
-
-
11,676
-
-
19,368
-
-
81,444
13,773
29,818
112,488
2,176
-
-
2,843
-
1,564
18,792
29,818
114,052
18,792
29,818
114,052
18,792
29,818
114,052
19,485
13,201
114,759
19,485
13,201
114,759		 Total
2022
£
18,829
487
3,931
245
6,510
65,351
11,676
19,368
81,444
207,841
4,714
7,724
220,279
220,279
220,279		 Total
2021
£
17,953
213
2,811
759
4,710
31,476
11,708
28,742
72,715
171,087
3,825
7,921
182,833
182,833
182,833

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

8 Charitable activities breakdown

Clause 1 - Provision of housing for poor persons of good character

lause 1 - Provision of housing for poor persons of good character
·
Staff costs
·
Electricity and gas
·
Insurance
·
Council tax
Improvements and routine, cyclical and general
Maintenance of housing accommodation		 2022
18,829
487
3931
245
23,492
65,351
88,843		 2021

17,953

213

2811

759

21,736

31,476

53,212

Clause 2 - To advance the Unitarian and Christian Religions in such a way as the trustees think fit.

e 3 - Promotion of education
e 4 - Relief of need
·
Emmaus
·
Almshouse residents - Window cleaning
·
Gardening
·
Astraline
·
Heating
·
Selby Food Bank
·
Citizens Advice Bureau North Yorkshire
·
Winner, The Preston Road Womens Centre
·
Hull Womens Aid
·
Barnado’s
·
Trussell Trust
·
Welcome House
·
Happy Days Childrens Charity
·
Selby College
·
The Newland Christian Trust		 2022
11,676
2022
29,368
2022
30,000
1,248
4,594
692
200
2,000
-
3,000
10,000
-
20,000
5,000
4,210
500
2,649
81,444		 2021
11,708
2021
28,742

2021

20,000

1,274

5,018

579

1,031

2,000

5,000

-

2,000

4,000

20,000

5,000

4,164

-

-

72,715

Clause 3 - Promotion of education

Clause 4 - Relief of need

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

9 Support costs

Support
costs
Governance
costs
£
£
Employment costs
-
3,977
Office expenses
5,985
1,197
Trustees Indemnity
Insurance
-
308
Audit fees
-
3,900
5,985
9,382
Analysed between
Charitable activities
4,715
7,723		 2022
£
3,977
7,182
308
3,900
15,367
12,438		 2021 Basis of allocation
£
3,846
5,825
308
4,500 Governance
14,479
11,745

Governance costs includes payments to the accountants of £3,900 (2021£4,500) for the Audit and Accountancy fees.

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

Number of employees

The average monthly number of employees during the year was:

2022 2021
Number Number
3 2
Employment costs 2022 2021
£ £
Wages and salaries 22,853 20,848

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

12 Other
Unrestricted Unrestricted
funds funds
2022 2021
Kingfisher management expenses 4,000 4,000
4,000 4,000

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

13 Net gains/(losses) on investments

Unrestricted Endowment Unrestricted Endowment Restricted Total Total Total
funds funds funds
designated
2022 2022 2022 2022 2021
£ £ £ £ £
Revaluation of investments (90,623) (58,205) (9,233) (158,061) 316,080
For the year ended 31
December 2021 136,297 100,789 78,994 316,080
Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Tangible fixed assets
Land and Farms and Total
buildings Woodhouse
Cottage
£ £ £
Cost
At 1 January 2022 2,043,827 4,800,000 6,843,827
At 31 December 2022 2,043,827 4,800,000 6,843,827
Depreciation and impairment
At 1 January 2022 110,572 - 110,572
At 31 December 2022 110,572 - 110,572
Carrying amount
At 31 December 2022 1,933,255 4,800,000 6,733,255
At 31 December 2021 1,933,255 4,800,000 6,733,255

14 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

15 Tangible fixed assets

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

16 Fixed asset investments

Cost or valuation
At 1 January 2022
Additions
Valuation changes
Disposals
At 31 December 2022
Carrying amount
At 31 December 2022
At 31 December 2021
17
Debtors
Amounts falling due within one year:
Other debtors
18
Creditors: amounts falling due within one year
Kingfisher Service Accounts Reserve Fund
Accruals and deferred income
19
Creditors: amounts falling due after more than one year
Notes
Deferred income
20
20
Deferred income
Arising from Grants received		 Unlisted
investments
£
2,358,712
495,100
(209,502)
(323,681)
2,320,629
2,320,629
2,358,712
2022
2021
£
£
-
1,228
2022
2021
£
£
776
13,522
4,419
4,273
5,195
17,795
2022
2021
£
£
116,357
116,357
2022
2021
£
£
116,357
116,357

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

20
Deferred income
Deferred income is included in the financial statements as follows:
Grants received -
Housing Corporation
1,029
Department of Environment
42,631
43,660
Deferred income is included within:
Non-current liabilities
There were no movements in the year.		 (Continued)
2022
2021
£
£
116,357
116,357		 (Continued)
2022
2021
£
£
116,357
116,357

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

21
Analysis of net assets between funds
Unrestricted
Designated
Restricted
2022
2022
2022
£
£
£
Fund balances at 31 December 2022 are
represented by:
Tangible assets
6,733,255
-
-
Investments
2,320,629
-
-
Current assets/(liabilities)
49,883
-
-
Long term liabilities
(116,357)
-
-
8,987,410
-
-		 Total Unrestricted
Designated
Restricted
2022
2021
2021
2021
£
£
£
£
6,733,255
6,733,255
-
-
2,320,629
2,358,712
-
-
49,883
138,570
-
-
(116,357)
(116,357)
-
-
8,987,410
9,114,180
-
-		 Total
2021
£
6,733,255
2,358,712
138,570
(116,357)
9,114,180

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

22 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

23 A Point of clarification

In 2018 the charity purchased eight flats within a block of 14. It thereby also acquired the freehold to the other six properties which were leasehold. Of the eight flats purchased five were vacant and were purchased to be used as almshouse properties. Three flats of the eight were tenanted and shown in the accounts as investment properties. As the tenanted flats become vacant they will be reassigned as almshouse properties.

In purchasing the eight flats and thereby also acquiring the freehold to the six leasehold flats the charity has the responsibility to manage the service charge account.

The service charge income and the service charge expenditure are disclosed through the service charge accounts. The unspent service charge income is held within other creditors which is verified to the balance within the service charge accounts.