REGISTERED CHARifi NUMBER: 1118962 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 FOR THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST J W Hinks LLP Chartered Accountants and Statutory Auditors 19 Hlghfield Road Ed8baston Blrmingham B15 3BH
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST CONTENTS OF THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 Report of the Trustees Report of the Independent Audltors Ststement of Flnancl41 Artlvltle5 8alance Sheet Notes to the Flnanclal Statements 10 to 17 Detalled Statement of FlnancS4l Artlvltles 18
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024 The trustee5 present their report with the flnand?I ststement5 of the charlty for the year ended 30 April 2024. The trustees have adopted the prov15ions of Accountin8 and Reporting by Charitie5'. Statement of Recommended Practlce applicable to charitles preparin8 their accounts in accordance wlth the Financial Reporknng Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191- OBJECTIVES AND ACTIVITIES Objectlves and actlvltles The object of the Trust is to support such charltable objects, charitable purposes and charitsble in5titution5 in such manner and In such shares and proportions a5 the Trustee shall frorn tlme to time at their discretion detemilne. This Is Usually by the glving of cash grants. The Trustees have detemiined generally to follow the Morrison List both in particular and In splrlt. The Trust Is simple In strurture. It does not have any employees and does not undertake fund ralslng events. Dlvidend Income Is received from1Ssted investments and thls Ss used to fund grants to charltable instltutions and historically the trustees tend to 5pllt the 8rants Into two levels- upper and lower. There Is no other person other than exlsting Trustees with power to appolnt Trustees. Any occasional recruitment of new Trusteesls In the hand5 of the exlsting Trustees as is the method adopted for such recrultment. ApplScations for as515tance are recelved regularly and are revlewed at the Trustees, meetings when declsions on grants are rnade. Publlc benefit The Trustees confirm that they have paid due to regard to the guldance glven by The Charlty Commlssion on public benefit. All the donations given are considered by the Trustees to be for publlc beneflt, as the charitable or8ènlsatlons SUPPOrted operate in a wide variety of fields, to the benefit of many communStles. The names of the organisatlons 5UPPOrted In furtherance of the alms of the Charlty are given on page 12 of these flnancial ststements. ACHIEVEMENT AND PERFORMANCE Durln8 the period forty charities have received funds from the Tnjst,. helping them achieve thelr charitable obje¢tlves, to the beneflt of many. All beneficiarles were elther specific charltSe5 mentioned In the Morrison List or were otherwise consistent with the indicators glven in the Morrison List. Grants of either £10.325 and £6,225 were 8iven to charities, whlch have a broad ran8e of purpose5 Including helping the blind, provldlng hospice care. supportin8 the arts, helpin8 the bereaved and carlnB for chlldren, amongst others. Fll+lANCIAL REVIEW Reserves pollcy The Trust malntalns Its unre5trlcted reserve5 at a SLrfficient level for It to meet the mana8ement administratlon and support costs and for making of charitable grants. The Trustees will ensure that the level maintained is sufficient for the Trust's current needs and any funds not immediately required will then be invested in accordance with the Trustees, investment powers should a suitable opportunity occur. Page I
THE LOPPYLUGS AND BARBARA MORRISON CHARITABiE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024 FINANCIAL REVIEW The Incomlng resources for the period amounted to £301,51212023-. £303,646) which was purely investment income. Total resources expended amounted to £324,86812023.. £276,160) including £300,02512023.' E246,8001 grants made and £24,84312023: £29,360) governance costs. The total net expenditure 15 £413,05012023.. £794,1751, which include5 a 1055 on investments of £389,69412023: £821,661) which gives total closing fund balances of £5,528,00612023: £5,941,056). Thls is split beeen unrestricted funds of £310,17212023,' £333,528) and restricted funds of £5,217,83412023: £5,607,528). The general policy is that the grants, together with governance costs will usually be expected to be less than the investment income over the perlod. The charity holds shares In a portfolio of listed companies and Unlt Trusts. The value of thls portfolio of shares decreased during the year to £5,413,499 from £5,826,069,. most of thls being due to general reduction in the market value of listed shares seen during the period. FUTURE PLANS There are no plans for changes in the general activities of the Trust at present. The level of future donations to be made will be determined by the level of funds available. STRUCTURE, GOVERNANCE AND MANAGEMENT Invprt71nw rlnr¢irnent The Loppylugs 3nd Barbara Morrison Charitable Trust is an unincorporated Trust created by the Will dated 23 lulv 19861"Ihe Will l ol the bale Barbara lune Morrison who died 011 2 ? De£eiiiber 20UJ. 11 Is a Re8islered Charily Number 1118962. The orSgSn31 Trustees were appointed by the Will of Mrs Morri50n and by a First Codicil dated 28 April 1992 and second Codicil dated 25 May 1993. Subsequent appointments have been by Deed of Appointment by the existing Trustees. The minimum number of Trustees is two and there is no upper Ilmlt, Courses are made available to the Trustees when requlred for the purposes of Induction or general tralning. The Trustees plan In normal circumstances to have no more than two meetin8s per year. The strategy ond activltles of the Trust are Implemented by correspondence and electric communicatlons throughout the year. The Trust although technically created by the Will of the late Mrs Morri50n was very much the joint creation of Mrs Morrison and her late husband, Mr Archibald John Morrison (otherwise known as "Loppylugs'l. Mr and Mr5 Morrison left behind them a signed document dated July 19861" the Morrison List") which although only advisory, gives a helpful Indication of the charfties to be benefited by the Trust. The Charity's day to day operations are managed by The Wllkes Partnership Solicltors. The Wilkes Partnership are responsible for the day to day management of the charity under the direction of the board of Trustee5. R15k revlew The Trustees have have considered the major risks to which the Trust is exposed and have reviewed those ri5k5 and establlshed systems and procedures to manage those risks. The Trustee5 seek advice from the Trust's stockbrokers about investments and from the Trust accountants regarding other financial matters. The policy of the Tru5tee5 in respect of the Trust's Investment5 is generally to seek and follow the advice given by the Trust's Stockbrokers unless there are contra-indication5. The Trust's stockbrokers are under instruction to manage the investments conservatively. Page 2
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024 REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charity number 1118962 PTlnclpal address CIO The Wilke5 Partnershlp 41 Church Street Birmingham B3 2RT Trustees Mrj RKay Mr A C Plddock Mr J J Harrison Audltofs J W Hinks LLP Chartered Accountants and Statutory Audltors 19 Hi8hfield Road Edgba5ton Blrmingham B15 3BH Bankers Lloyds Bank PIC 36- 38 New Street Blrmingham B2 4LP TRUSTEES, RESPONSIBILifY STATEMENT The trustees are re5ponslble for preparing the Report of the Trustees and the flnancial statements In accordance with appllcable law and Unlted Klngdom Accounting Standard5 Iunited Kin8dom Generally Accepted Accountlng Practice) Including Financial Reporting Standard 102 "The Financial Reportln8 Standard applicable In the UK and Republic of Ireland. The law appllcable to charltles in En8land arbd Wales, the Charltie5 Act 2011, Charity (Accounts and Reports) Regulatlons 21x18 and the provi51ons of the trust deed requires the tnjstees to prepare financSal statements for each financial year whlch give a true and fair vlew of the state of affairs of the charity and of the incoming resources and applitation of resources, ineludln8 the income and expenditure, of the charity for that perlod. In preparln8 those financial statements, the tnjstees a required to select suitable accounting F)olicies and then apply them cons15tently,' observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent prepare the financial statements on the going concern basis unless It Is inapproprlate to presume that the charity will continue in business. Page 3
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024 TRUSTEES. RESPONSIBILITY STATEMENT- contlnued The trustees are responsible for keepin8 proper accounting record5 which dlsclose with reasonable accuracy at any time the financial posltion of the charlty and to enable them to ensure that the financial ststements comply with the Charitles Act 2011, the Charity (Accounts and Reports) Re8ulatlon$ 2008 and the provlslons of the trust deed. They are also responsible for safeguardin8 the a55ets of the charity and hence for tskin8 reasonable steps for the prevention and (ieteeiion of fraud and other irregularitles. Approved by order of the board of trustees on ... . and Signed on its behalf by- Trustee Pa8e 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE LOPPYLUGS AND BARBARA MORRISON CHARITA8LE TRUST Oplnion We have audited the financial statements of The Loppylugs and Barbara Morrison Charitable Trust Ithe 'charity'l for the year ended 30 April 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a Summary of significant accounting policies. The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accountlng Practice), including Financial Reporting Standard 102 'The Finantlal Reporting Standard applicable in the UK and Republic of Ireland,. In our oplnlon the flnancial 5tatements'. give a true and fair view of the State of the tharlty's affalrs as at 30 April 2024 and of Its incomlng resources and appllcatlon of resource5, for the year then ended,. have been properly prepared in accordance wlth Unlted Kingdom Generally A¢pted Accountin8 Practice, includin8 Financlal Reportlng Standard 102 'The Flnancial Reportin8 Stsndard applicable In the UK and Republic ol Ireland,, and have been prepared in accordance with the requlrements of the Charltles A¢t 2011. Fasls for oplnlon We conducted our audit in accordance wlth Internatlonal Standards on Audltin8 IUKI IISAS IUKII and appllcable law. Our responsibilities under those standards are further described in the Auditors, responsibllities for the audit of the financial 5tatement5 section of our report. We are independent of the charity in accordance with the ethScal requirements that are relant to our audlt of the financlal statement5 In the UK, Includin8 the FRC'S Ethical Standard, and we have fulfilled our other ethlcal responsiblllties In accordance with these requirement5. We believe that the audSt evldence we have obtained is 5ufflcient and appropriate to provide a basis for our opinlon. Concluslons relatlng to golng concern In auditing the financial Statements, we have concluded that the trustees, use of the going concern ba515 of accountin8 Sn the preparatlon of the financlal Statements 55 appropriate. Based on the work we have performed, we have not identified any material uncertalnties relating to events or condltions that, individually or collectivelyi may cast significant doubt on the charity's abllity to continue as a going concern for a period of at least twelve months from when the financlal statement5 are authorised for issue. Our respon5ibilldes and the responsibilitie5 of the trustees wlth respect to golng concern are described In the relevant sections of thls report. other Informatlon The trustees are responsible for the other informatlon. The other information comprises the informatlon Included In the Annual Report, other than the finan¢lal statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other Informatlon and, except to the extent otherwise explicitly stated In our report, we do not express any form of assuran¢e conclusion thereon. In Connection with our audlt of the flnanclal statements, our responsibillty Is to read the other information and. In doing so, consider whether the other informatlon 15 materially incon515tent wlth the financlal statements or our knowledge obtained in the audit or otherwise appear5 to be materially misstated. If we identify such materlal incon5iStencies or apparent material mi55tatements, we are required to determine whether this gives rise to a material misstaternent In the financial 5t2tement5 themselves. If, based on the work we have performed, we conclude that there is a material misstatement of thls other information, we are required to report that fatt. We have nothing to report In this regard. P?8e 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST Matters on whlch we are requlrèd to report by exception We have nothing to report in respect of the following matters where the Charities IAttounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: the information given In the Report of the Trustees is inconsistent in any materiol respect wlth the financial statements,. or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accountlng records and returns; or we have not received all the information and explanations we require for our audit. Responslbllltles of trustees As explained more fully in the Trustees, Responsibilitles Statement, the trustees are responsible for the preparation of the financial ststements which give o true and faSr vlew, and for such internal ¢ontrol as the trustees determine Is necessary to enable the preparation of financSal statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessin8 the charity's ability to continue as a 80in8 concern, discloslng, as applicable, matters related to going concern and using the going concern basls of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Our re5pon5ibilities for the audlt of the flnancial statements We have been appointed as audltors under Section 144 of the Charities Act 2011 and report in occordance with the Act and relevant regulations made or having effect thereunder. Our objectlVPs are to obtain reasonable 355urance about whether the financial statements 35 a whole are free from material missratemenl, whetner due to fraud or error, ano ro issue a klepor t ol the Independent Auditors that iniludes our opinion. Reasonable assurance is a high level of assurance, but is not a 8uarantee that an audit conducted in accordance with ISAS IUKI will always detect a material mi55tatement when it exi515. Misstatements can arise from fraud or error and are considered material if, indivldually 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 detertin8 irregularitie5, including fraud is detailed below.. We identifled areas of laws and regulatlons that could reasonably expected to have a materlal effect on the flnancial statements and di5CU55ed the policies Ind procedures regarding compliance. Specific area's considered were as follow5.' EnquirSng wlth the trustees and others to galn an understsnding of the operatl¢n Itself includlng operatlons, financial reportin8 and known fraud and error. Evaluating and understanding the internal control System. Performing analytical proce(Sures as expected or unexpected variances in account balances or classes of transactions appear. -Testing documentation supporting account balance5 or classes of transactions. Confirming other accounts as appropriate. A further de5CriPtion of our responsibilitie5 for the audit of the financial statements is located on the Financial Reporting Council'5 website at www.frc.org.uklauditorsre5pon5ibilities. This description forms part of our Report of the Independent Auditors. Page 6
REPORTOF THE INDEPENDENT AUDITORS TOTHE TRUSTEES OF THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST Use of our report Thls report is made solely to the charity's trustees, as a body in accordance with Part 4 of the Charities IAccounts and Reportsl Regulatlons 2008. Our audit work has been undertaken so that we might state to the charity's tr.ustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest eytent permitted by law, we do not accept or assume responsibility to anyonè other than the charity and the charity's trustees a5 a body for our audlt work, for thls report, or for the opinions we have formed. k6 nks LLF J W Hlnks LLP Chartered Accountants and Statutory Auditors 19 Highfleld Road Edgbaston Blrmingham B15 38H Date., 19 MAd 25 Page 7
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 30 APRIL 2024 2024 Totsl fund5 2023 Total funds Unrestrlcted fund Endowment Funds Notes INCOME AND ENDOWMENTS FROM Investment Income 301512 301,512 303,646 EXPENDITURE ON Charitable actlvltie$ Grants payable Governance Costs 300,025 24 300,025 246,800 29,360 Total 324,868 324,868 276,160 Net Ilossesl on Investments 1389 6941 {389.6941 1821,6611 NET IEXPENDITUREI 123,3561 {389,6941 {413,0501 1794,1751 RECONCILIATION OF FUNDS Total funds brought forward 333,528 5,607,528 5.941,056 6.735.231 TOTAL FUNDS CARRIED FORWARD 310.172 5,217,834 5,528,006 5,941,056 The note5 form part of these flnancial statements Pa8e 8
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST BALANCE SHEET 30 APRIL 2024 2024 Total lunds 2023 Total funds Unrestricted fund Endowment Funds Notes FIXED ASSETS Investments 195,665 S,21734 5,413,499 5,825,069 CURRENT A55ETS Cash at bank 132,416 132,416 125,221 CREDITORS Amounts fallln8 due within one year {17,9091 117,9)9) 19,2341 NET CURRENT ASSErs 114,507 114.507 115,987 TOTAL ASsEfs LESS CURRENT LIABILITIES 310,172 5,217,834 s28,006 5,941,056 NET A55Ers 310,172 5,217,834 5,528,006 5,941,056 FUNDS Unrestrlcted fund5 Endowmentfunds 310,172 5,217,834 333,528 5,607,528 TOTAL FUNDS 5,528,006 5,941,056 The flnancial ststement5 were approved by the Board of Trustees and authorised for Issue on .,2G.t4 Rts.r.wty. LW.. and were signed on its behalf by: Trustee The note5 form part of these financial 5tatement5 Page 9
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 ACCOUNTING POUCIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charity, whlth is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities-. Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charlties Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are Induded at market value, as modified by the revaluation of certain assets. The charity has tsken advantage of the followlng dlsclosure exemption In preparlng these flnanclal statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirement5 Of Section 7 Statement of Cash Flows. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY In preparing the financial statemerits, management is required to make estimates and 355umptions which ffect reported Income, expenses, assets and dlsclosures of contingent assets and Ilabllities. Use of available Information and application of judgement are inherent in the formation of estimates, tO8ether with expectations of luture events that are believed to be reasonable under the ¢ircumst3nce5. Actual results in the ri 11 Ir• rni 11d Aiffpr f.nm qi Irh ptimitps However, given the Lircumstaiices ol the charity, Ihe Trustee5 do not believe chdL there any eSiimaies thai are 518nlficanl lo the financial statements other than those discussed in the accountin8 policles. INCOMING RESOURCES All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. RESOURCES EXPENDED All expenditure is accounted for on an accruals basis as a Ilability is incurred and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to partitular headings they have been allocated to activitSes on a ba515 conslstent wlth use of the resources. The charity is not registered for VAT purposes, the expenditure belng shown inclusive of any VAT. Expenditure on charitable activities comprises those costs incurred by the charity in delivery of its activitie5 for the beneflclarSes, which are primarily the costs of the grants. Governance cost include those costs a550ciated wlth meeting the constitutional and statutory requirements of the charity and include the audit fee and costs linked to the strategic management of the charity. Governance costs are included within expenditure on charitable activities. The general policy for grants is that after allowing for governance costs and a reasonable "cushion" for unforeseen eventualltles, the balance of income received should be fully expanded in the grants to be made. Unless Otherwise specified, grants are invariably issued tor the general purposes of the receiving charlty rather than for specific projects. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenélture. Page 10 continued...
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued FOR THE YEAR ENDED 30 APRIL 2024 ACCOUNTING POLICIE5 - continued TAXATION The charitV15 exempt from tax on it5 charitable artivltles. FUNDACCOUNTING Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have been de5i8nated for other purposes. Endowment fund5 represent expendable funds that carry no restrictions as regards maSntslnlng the Inltlal capital but which the trustees have chosen to invest in order to provlde the charity with future income. Income arising on the endowment funds can be used In accordance with the objects of the charity and Is Included as unrestricted income. Any capital 8ain5 or losses arising on the investments form part of the fund. Investment In¢ome and gains are allocated to the appropriate fund, GOING CONCERN The financial statements have been prepared on a going concern bas15. The trust Is considered to have sufficient re50urces to continue in operation for the forseeable future. There are no materlal uncertalntles surrounding the entity'5 abillty to contlnue as a going concern. The charity has 51gnificant investments, few fixed expenses andls able to set the value of the grants it glves to be in-line with Its income. Consequently, the 1Skelihood of the charity encounterin8 financlal dlfficultles is considered to be extremely low. There are no intentions for the charity to be wound up. INVESTMENT INCOME 2024 2023 Dlvldends recelvable from equlty shares Bank Interest 301,319 193 303,564 82 301,512 303,646 GRANTS PAYABLE 2024 2023 Grants payable 300,025 246,800 Page 11 continued.
THE LOPPYLUGS AND BARBARA MORRISON ChARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR EIIDED 30 APRIL 2024 GRANTS PAYABLE- contlnued Grants paid to Instltutions 20Z4 2023 Acorn's Childrens Hospice Birmingham Boys, and Girls, Unlon Birmingham Children's Hospital BlrmSn8ham Royal Ballet Birmingharn St Mary's Hosplce Carlng for Llfe Demand Disabled Sailor's Association DÉBRA ESO120061 Ltd (English Symphony Orchestral Hunts Servants, Fund Royal Shakespeare Company Miss Smallwood's Society Support through Court 6,225 10?25 10325 6225 6225 6,225 6,225 6,225 6.225 6,225 10,325 10,325 10,325 6,225 5,300 8,800 8,800 5,3 5,3CK) 5,3(X) 5,3IXI 5,3C 5,3C(I 5,300 8,800 8,800 5,300 Ginn 5,300 8,800 8,800 5,300 8,800 8,800 5,300 5,3CK) 8,8C 8,800 8,8CQ 8,8C(J 8,8 8,8CN) 8.800 5,3CLI 8,8IK) 5,3C() 5,31X) 5,3 5,3 5.300 if)n The Artlst's General Benevolent Institution The Birmingham illue Coat School The Birmingham Wirele55 for the Blind The Bumblebee Consenjation Trust The Chartered Accountants, Benevolent Association The Churches Conservation Trust The Foundation lor Conductive Education The London Stained Glass Repository The Lord Taverners The National Benevolent Charity The People's Dlspensary for Sick Animals The Royal Air Force Benevolent Fund The Royal Blrmin8ham Society of Artists The Royal National Institute for the Blind The Salvation Armv The Stained Glass Museum Revitalise Respite Holidays Narthex Centre Isparkhilll The Emily jordan Foundation Chance to Shine Bimiingham Botanlcal Gardens St Gabriel's Centre 6.225 10,325 10,325 6,225 10,325 10,325 6,225 6.225 10.325 10,325 10,325 10,325 10,325 10,325 10,325 6,225 10,325 6,225 6,225 6,225 6,225 6,225 300.025 246,800 All grants made are for the stated general charitable objertlves of the recipient charfties. Where on any occasion the grant is for or towards a particular charitable project this 15 conveyed to the charity when the grant is made. Page 12 continued...
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED30APRIL2024 GRANT5 PAYABLE- ¢ontlnued No grants were made to Individua1512023 '. none)- TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneratlon or other benefits for the year ended 30 April 2024 nor for the year ended 30 April 2023. TRUSTEES. EXPENSES There were no trustees, expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrrtted Endowment fund Fund5 Total funds INCOME AND ENDOWMENTS FROM Investment income 303,646 303,646 EXPENDITURE ON Charftable actlvltles Grants payable Governance Costs 246,800 29,360 246,800 29,360 Total 276,160 276,160 Net galnslllossesl on Investments 1821,6611 1821,6611 NET INCOMEIIEXPENDITURE) 27,486 1821,6611 1794,1751 RECONCIUATION OF FUNDS Total funds brought forward 306,042 6,429,189 6,735,231 TOTAL FUNDS CARRIED FORWARD 333,528 5,607,528 5,941,056 Page 13 continued...
THE IOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 APRIL 2024 FIXED ASSET INVESTMENTS L15ted investment5 MARKET VALUE At l May 2023 Additions Disposals Revaluations 5.825,069 2.142,951 12,357,901} {196,620) At 30 April 2024 5,413,499 NET BOOKVALUE At 30 April 2024 5,413.499 At 30 April 2023 5,825.069 UK investments are represented by 2024 2023 rrfai Value Value Equitie5 Commercial Propertie5 5,029,677 4,901,631 815,822 511,868 4,663,964 1,255,317 4,913,2 19 911.850 Total 5,845,899 5.413,499 5,919,281 5,825,069 Investments in individual entitles held at 30 April 2024 which are over 5% of portfolio by value are Market Value 20Z4 Units In¥e5tment 500.000 390,1XJO 400,00 300,(KJO UKTrea5ury 3.5% 22110125 Taylor Maritime Investments Limited UK Treasury4.25% W S Ruffer Div Return FD I ACC 490,520 312,000 399,060 303,630 9.06 15.4 737 5.61 Page 14 continued...
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 APRIL 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors 17,909 9,234 MOVEMENT IN FUNDS Net movement in funds At 30.4.24 At 1.5.23 Unrestrlcted funds General fund 333,528 {23.3561 310,172 endowment funds Endowment Funds S,607,528 {389,694} 5,217034 TOTAL FUNDS 5.941,056 1413,0501 5,528,006 Net movement in funds, included In the above are as follows: Incomln8 resources Resources expended Galn5 and losses Movement In funds Unrestricted fund5 General fund 301,51Z 1324,8681 123356) Endowment funds Endowment Funds 1389,6941 1389,694) TOTAL FUNDS 301,512 1324,8681 389,6941 413,050) Comparatlv•s for movement In tunds Net movement In funds At 30.4.23 At 1.5.22 Unre5trfrted fund5 General fund 306,042 27,486 333.528 Endowment funds Endowment Funds 6,429,189 1821,6611 5,607,528 TOTAL FUNDS 6,735,231 1794,1751 5,941,056 Page 15 contlnued...
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST NOTES TO THE FINANCIALSTATEMENTS- contlnued FOR THE YEAR ENDED 30 APRIL 2024 MOVEMENTIN FUNDS- contlnued Comparative net movement in funds, included in the ab¢)ve are as follows: Incomlng resources Resources expended Gains and losses Movement In funds Unrestrlcted funds General fund 303,646 1276,1601 27,486 Endowment funds Enéowment Funds 1821,6611 1821,6611 TOTAL FUNDS 303,646 1276,1601 1821.6611 794.1751 A current year 12 rnonth5 and prior year 12 months combined posltion is as follows.. Net movement At Unrestricted funds General fund 306,042 4,130 310. 172 Endowment funds Endowment Funds 6,429,189 11,211,355) 5,217,834 TOTAL FUNDS 6,735,231 11.207.2251 5,528,006 A current year 12 months and prior year 12 months combined net movement in funds, Included in the above are as Follows.. Incomin8 resources Resources expended Gains and losses Movement in funds Unrestrlcted funds General fund 605,158 1601.0281 4,130 Endowment funds Endowment Funds 11,211.3551 11.211,3551 TOTAL FUNDS 605,158 601,0281 11,211,3551 11,207,225) Page 16 continued...
THE LOPPYLLIGS AND BARBARA MORRISON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 30 APRIL 2024 RELATED PARTY DISCLOSURES Mr A C Plddo¢k is a consultant of The Wllke5 Partnershlp and15 a trustee of the charity. Costs totallin8 £4,283 12023 £7,942) In re5pert of management and adminlstratlon servlces provided by 501icltors. The Wllkes Partnership, were incurred durin8 the year. Included in credltors falling due wlthin one year is an accrual for £3,68512023 . £5.335) In respect to the aforementioned seNice5 that had yet to be Involced and settled. Page 17
THE LOPPYLUGS AND BARBARA MORRISON CHARITA8LE TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2024 2024 2023 INCOME AND ENI)OWMENTS Investment Income Dividends receivable from equity shares Bank Interest 301,319 193 303.564 82 301,512 303,646 Total In¢omln8 resour¢es 301,512 303,646 EXPENDITURE Charitable activlties Grants to institutlons 300,025 246,800 Support costs Govemance costs 1,920 84 1,920 20.919 2,040 88 2,040 25,192 Bank charges Accountancy and legal lees Management and administration 24,843 29,360 Total resource5 expended 324,868 276,160 Net lexpendlturelllncome before galns and losses 123,3561 27,486 Reallsed recognlsed galns and losses Realised Ilossesl on fixed asset investments {389.6941 1821,6611 Net expendlture 1413,0501 794,1751 Thls poge does not form part of the statutory financial statements Page 18