2023-12-31-accounts

Charity Registration No. 1091018

THE LEONARD CHAMBERLAIN TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

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 J P Williams Mrs J E Allen Mr D Lancaster (Appointed 15 April 2024) Mr I Williams (Appointed 15 April 2024) Mr B Cundill (Resigned 15 March 2024) 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 Cambridge & Counties Bank Charnwood Court 5B New Walk Leicester LE1 6TE Solicitors A M Jackson & Co Marina Court Castle Street Hull East Yorkshire HU1 1TJ Land Agent Cundalls 15 Market Place Malton North Yorkshire YO17 7LP

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 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

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 £131,536 but excluding unrealised losses, the unrestricted and designated funds show a net deficit for the year of £11,073. During the period under review the net assets of the Charity have increased by £207,264.

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.

• 1 -

THE LEONARD CHAMBERLAIN TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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 (Resigned 15 March 2024) Mr J P Williams Mrs J E Allen Mr D Lancaster (Appointed 15 April 2024) Mr I Williams (Appointed 15 April 2024)

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: .........................

• 2 -

THE LEONARD CHAMBERLAIN TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

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:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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.

• 3 -

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 2023 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:

• give a true and fair view of the state of the charity’s affairs as at 31 December 2023 and of its incoming resources and application of resources, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

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 information given in the financial statements is inconsistent in any material respect with the trustees' report; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records; or

• we have not received all the information and explanations we require for our audit.

• 4 -

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 ......................... 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.

• 5 -

THE LEONARD CHAMBERLAIN TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Unrestricted Restricted funds funds funds general designated 2023 2023 2023 Notes £ £ £ Income and endowments from: Weekly maintenance contributions 3 141,130 - - Charity Investment Income 4 115,271 16,265 - Other income 5 4,000 - - Total income 260,401 16,265 - Expenditure on: Charity investment expenditure 6 32,519 - - Charitable activities 7 251,220 - - Other 12 4,000 - - Total expenditure 287,739 - - Net gains/(losses) on investments 13 23,573 155,444 39,320 Net movement in funds (3,765) 171,709 39,320

Total Unrestricted Unrestricted Restricted Total funds funds funds general designated 2023 2022 2022 2022 2022 £ £ £ £ £ 141,130 137,793 - - 137,793 131,536 128,005 - - 128,005 4,000 4,000 - - 4,000 276,666 269,798 - - 269,798 32,519 14,228 - - 14,228 251,220 220,279 - - 220,279 4,000 4,000 - - 4,000 287,739 238,507 - - 238,507 218,337 (90,623) (58,205) (9,233) (158,061) 207,264 (59,332) (58,205) (9,233) (126,770)

• 6 -

THE LEONARD CHAMBERLAIN TRUST

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

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Unrestricted Restricted funds funds funds general designated 2023 2023 2023 Notes £ £ £ Net movement in funds (3,765) 171,709 39,320 Fund balances at 1 January 2023 1,203,392 738,588 7,045,430 Fund balances at 31 December 2023 1,199,627 910,297 7,084,750	Total Unrestricted Unrestricted Restricted funds funds funds general designated 2023 2022 2022 2022 £ £ £ £ 207,264 (59,332) (58,205) (9,233) 8,987,410 1,262,724 796,793 7,054,663 9,194,674 1,203,392 738,588 7,045,430	Total 2022 £ (126,770) 9,114,180 8,987,410

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

All income and expenditure derive from continuing activities.

• 7 -

THE LEONARD CHAMBERLAIN TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2023

2023 Notes £ £ Fixed assets Tangible assets 15 6,800,033 Investments 16 2,472,766 9,272,799 Current assets Cash at bank and in hand 44,653 Creditors: amounts falling due within one year 17 (6,421) Net current assets 38,232 Total assets less current liabilities 9,311,031 Creditors: amounts falling due after more than one year 18 (116,357) Net assets 9,194,674 Income funds Restricted funds 7,084,750 Unrestricted funds - designated 910,297 Unrestricted funds - general 1,199,627 9,194,674 The accounts were approved by the Trustees on ......................... .............................. .............................. Mr M R Tracey Mr J P Williams Trustee Trustee .............................. .............................. Mrs J E Allen Mr I Williams Trustee Trustee

2022 £ £ 6,733,255 2,320,629 9,053,884 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 ..................... Mr D Lancaster Trustee

• 8 -

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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.

• 9 -

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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).

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.

• 10 -

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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.

1.9 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.

• 11 -

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

• 3 Weekly maintenance contributions

	Sutton 1	Sutton 2	Sutton 3	Selby	Kingfisher	Total	Total
					Rise	2023	2022
	2023	2023	2023	2023	2023
	£	£	£	£	£	£	£
Weekly maintenance contribution	4032	26154	25415	58841	26688	141130	137793

• 12 -

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

4 Charity Investment Income

		Unrestricted	Unrestricted	Total	Total
		funds	funds	2023	2022
		**general **	designated
		£	£	£	£
	Rental income -
	Abbey Farm	33,825		33,825	30,650
	Decoy Farm	24,250		24,250	24,250
	Woodhouse cottage	7,336		7,336	10,219
	Kingfisher Rise
	- 1 tenanted flat	6,262		6,262	6,237
	Ground rent received	125	-	125	-
	Investment income fund	37,440	16,265	53,705	52,291
	Income from Solar Panels	6,033	-	6,033	4,358
		115,271	16,265	131,536	128,005
	For the year ended 31 December 2022	128,005	-		128,005
5	Other income
				Unrestricted	Unrestricted
				funds	funds
				general	general
				2023	2022
				£	£
	Kingfisher management charge			4,000	4,000
6	Charity investment expenditure
				2023	2022
				£	£
	Expenditure in respect of Investments
	Abbey Farm			18,306	4,483
	Decoy Farm			9,498	5,154
	Woodhouse Cottage			3,686	3,096
	Kingfisher Rise - 1 tenanted flat			1,029	1,495
	Expenditure in respect of Investments			32,519	14,228
				32,519	14,228
	For the year ended 31 December 2022
	Expenditure in respect of Investments				14,228

• 13 -

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

7 Charitable activities Number of Properties 1 Sutton 1 6 Sutton 2 7 Sutton 3 £ £ £ Staff costs 731 4,387 5,118 Electricity 273 - 338 Insurance 396 601 661 Council tax - - 110 Service charge - - - Repairs and maintenance 2,694 1,788 85,205 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) - - - 4,094 6,776 91,432 Share of support costs (see note 9) 294 1,763 2,057 Share of governance costs (see note 9) 275 1,648 1,923 4,663 10,187 95,412 Analysis by fund Unrestricted funds - general 4,663 10,187 95,412 4,663 10,187 95,412 For the year ended 31 December 2022 Unrestricted funds - general 1,922 13,417 42,278 1,922 13,417 42,278	12 Selby 8 Kingfisher Rise Charitable donations £ £ £ 8,774 5,849 - 625 193 - 1,227 - - 38 41 - - 7,147 - 25,752 5,837 - - - 8,820 - - 15,100 - - 52,865 36,416 19,067 76,785 3,526 - - 3,296 - 1,868 43,238 19,067 78,653 43,238 19,067 78,653 43,238 19,067 78,653 18,792 29,818 114,052 18,792 29,818 114,052	Total 2023 £ 24,859 1,429 2,885 189 7,147 121,276 8,820 15,100 52,865 234,570 7,640 9,010 251,220 251,220 251,220	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

• 14 -

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

8 Charitable activities breakdown

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

**Clause 1 - Provision of housing for poor persons of good **	character
	2023	2022
· Staff costs	24,859	18,829
· Electricityandgas	1,429	487
· Insurance	2,885	3,931
· Council tax	189	245
	29,362	23,492
Improvements and routine,cyclical andgeneral	121,276	65,351
Maintenance of housingaccommodation
	150,638	88,843

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

Clause 3 - Promotion of education Clause 4 - Relief of need · Emmaus · Almshouse residents - Window cleaning · Gardening · Astraline · Heating · SelbyFood Bank · Send a Child to Hucklow · Winner,The Preston Road Womens Centre · Hull Womens Aid · Trussell Trust · Welcome House · HappyDays Childrens Charity · SelbyCollege	Clause 3 - Promotion of education Clause 4 - Relief of need · Emmaus · Almshouse residents - Window cleaning · Gardening · Astraline · Heating · SelbyFood Bank · Send a Child to Hucklow · Winner,The Preston Road Womens Centre · Hull Womens Aid · Trussell Trust · Welcome House · HappyDays Childrens Charity · SelbyCollege		2023 8,820 2023 15,100	2022 11,676 2022 19,368
		2023		2022
	· Emmaus	20,000		30,000
	· Almshouse residents - Window cleaning	1,302		1,248
	· Gardening	5,726		4,594
	· Astraline	1,077		692
	· Heating	-		200
	· SelbyFood Bank	2,000		2,000
	· Send a Child to Hucklow	16,000		-
	· Winner,The Preston Road Womens Centre	-		3,000
	· Hull Womens Aid	-		10,000
	· Trussell Trust	-		20,000
	· Welcome House	6,760		5,000
	· HappyDays Childrens Charity	-		4,210
	· SelbyCollege	-		500
		52,865		81,444

• 15 -

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

9 Support costs

Support costs Governance costs £ £ Employment costs - 4,862 Office expenses 9,989 1,998 Trustees Indemnity Insurance - 448 Audit fees - 3,900 9,989 11,208 Analysed between Charitable activities 7,641 9,009	2023 £ 4,862 11,987 448 3,900 21,197 16,650	2022 Basis of allocation £ 3,977 7,182 308 3,900 Governance 15,367 12,437

Governance costs includes payments to the accountants of £3,900 (2022£3,900) 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:

	2023	2022
	Number	Number
	3	3
Employment costs	2023	2022
	£	£
Wages and salaries	22,853	20,848

• 16 -

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

12 Other

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2023	2022
Kingfisher management expenses	4,000	4,000
	4,000	4,000

• 17 -

THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

13 Net gains/(losses) on investments

Unrestricted Unrestricted Restricted funds funds funds general designated 2023 2023 2023 £ £ £ Revaluation of investments 23,573 155,444 39,320 For the year ended 31 December 2022 (90,623) (58,205) (9,233)	Total 2023 £ 218,337	Total 2022 £ (158,061)
		(158,061)

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

Cost At 1 January 2023 Additions At 31 December 2023 Depreciation and impairment At 1 January 2023 At 31 December 2023 Carrying amount At 31 December 2023 At 31 December 2022	Land and buildings Farms and Woodhouse Cottage £ £ 2,043,827 4,800,000 66,778 - 2,110,605 4,800,000 110,572 - 110,572 - 2,000,033 4,800,000 1,933,255 4,800,000	Total £ 6,843,827 66,778
		6,910,605
		110,572
		110,572
		6,800,033
		6,733,255

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THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

16 Fixed asset investments

	Unlisted
	investments
	£
Cost or valuation
At 1 January 2023	2,320,629
Valuation changes	218,337
Disposals	(66,200)
At 31 December 2023	2,472,766
Carrying amount
At 31 December 2023	2,472,766
At 31 December 2022	2,320,629

17 Creditors: amounts falling due within one year

Kingfisher Service Accounts Reserve Fund Accruals and deferred income 18 Creditors: amounts falling due after more than one year Notes Deferred income 19 19 Deferred income Arising from Grants received	2023 £ 2,042 4,379 6,421 2023 £ 116,357 2023 £ 116,357	2022 £ 776 4,419
		5,195
		2022 £ 116,357
		2022 £ 116,357

Deferred income is included in the financial statements as follows:

Grants received -
Housing Corporation	1,029
Department of Environment	42,631
Right to Buy Grant	72,697
	116,357

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THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

19 Deferred income Deferred income is included within: Non-current liabilities There were no movements in the year.	(Continued) 2023 2022 £ £ 116,357 116,357	(Continued) 2023 2022 £ £ 116,357 116,357

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THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

20 Analysis of net assets between funds Unrestricted Designated Restricted 2023 2023 2023 £ £ £ Fund balances at 31 December 2023 are represented by: Tangible assets - - 6,800,033 Investments 1,294,017 894,032 284,717 Current assets/(liabilities) 38,232 - - Long term liabilities (116,357) - - 1,215,892 894,032 7,084,750	Total Unrestricted Designated Restricted 2023 2022 2022 2022 £ £ £ £ 6,800,033 6,733,255 - - 2,472,766 2,320,629 - - 38,232 49,883 - - (116,357) (116,357) - - 9,194,674 8,987,410 - -	Total 2022 £ 6,733,255 2,320,629 49,883 (116,357) 8,987,410

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THE LEONARD CHAMBERLAIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

21 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

22 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.

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