REGISTERED CHARITY NUMBER: 1118962
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
FOR
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
J W Hinks LLP Chartered Accountants and Statutory Auditors 19 Highfield Road Edgbaston Birmingham B15 3BH
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
==> picture [292 x 125] intentionally omitted <==
----- Start of picture text -----
Page
Report of the Trustees 1 to 4
Report of the Independent Auditors 5 to 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 18
----- End of picture text -----
THE LOPPYLUGS AND BARBARA MORRISON
CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025
The trustees present their report with the financial statements of the charity for the year ended 30 April 2025. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and activities
The object of the Trust is to support such charitable objects, charitable purposes and charitable institutions in such a manner and in such shares and proportions as the Trustee shall from time to time at their discretion determine. This is usually by the giving of cash grants.
The Trustees have determined generally to follow the Morrison List both in particular and in spirit.
The Trust is simple in structure. It does not have any employees and does not undertake fund raising events. Dividend income is received from listed investments and this is used to fund grants to charitable institutions and historically the trustees tend to split the grants into two levels - upper and lower.
There is no other person other than existing Trustees with power to appoint Trustees. Any occasional recruitment of new Trustees is in the hands of the existing Trustees as is the method adopted for such recruitment.
Applications for assistance are received regularly and are reviewed at the Trustees’ meetings when decisions on grants are made.
Public benefit
The Trustees confirm that they have paid due to regard to the guidance given by The Charity Commission on public benefit. All the donations given are considered by the Trustees to be for public benefit, as the charitable organisations supported operate in a wide variety of fields, to the benefit of many communities. The names of the organisations supported in furtherance of the aims of the Charity are given on page 11 of these financial statements.
ACHIEVEMENT AND PERFORMANCE
During the period forty charities have received funds from the Trust; helping them achieve their charitable objectives, to the benefit of many. All beneficiaries were either specific charities mentioned in the Morrison List or were otherwise consistent with the indicators given in the Morrison List.
Grants of either £10,325 and £6,225 were given to charities, which have a broad range of purposes including helping the blind, providing hospice care, supporting the arts, helping the bereaved and caring for children, amongst others.
FINANCIAL REVIEW
Reserves policy
The Trust maintains its unrestricted reserves at a sufficient level for it to meet the management administration 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 1
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025
FINANCIAL REVIEW
The incoming resources for the period amounted to £296,185 (2024: £301,512) which was purely investment income. Total resources expended amounted to £320,106 (2024: £324,868) including £289,700 {2024: £300,025) grants made and £30,406 (2024: £24,843) governance costs.
The total net expenditure is £227,815 (2024: £413,050), which includes a loss on investments of £203,894 (2024) : £389,694) which gives total closing fund balances of £5,300,191 (2024: £5,528,006). This is split between unrestricted funds of £286,251 (2024: £310,172) and restricted funds of £5,013,940 (2024: £5,217,834).
The general policy is that the grants, together with governance costs will usually be expected to be less than the investment income over the period.
The charity holds shares in a portfolio of listed companies and Unit Trusts. The value of this portfolio of shares decreased during the year to £5,094.522 from £5,413,499; most of this 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
Governing document
The Loppylugs and Barbara Morrison Charitable Trust is an unincorporated Trust created by the Will dated 23 July 1986 ("the Will") of the late Barbara June Morrison who died on 27 December 2005. It is a Registered Charity Number 1118962.
The original Trustees were appointed by the Will of Mrs Morrison and by a First Codicil dated 28 April 1992 and a Second Codicil dated 25 May 1993. Subsequent appointments have been by Deed of Appointment by the existing Trustees. The minimum number ofTrustees is two and there is no upper limit.
Courses are made available to the Trustees when required for the purposes of induction or general training.
The Trustees plan in normal circumstances to have no more than two meetings per year. The strategy and activities of the Trust are implemented by correspondence and electric communications throughout the year.
The Trust although technically created by the Will of the late Mrs Morrison was very much the joint creation of Mrs Morrison and her late husband, Mr Archibald John Morrison (otherwise known as "Loppylugs"). Mr and Mrs Morrison left behind them a signed document dated July 1986 (" the Morrison List") which although only advisory, gives a helpful indication of the charities to be benefited by the Trust.
The Charity's day to day operations are managed by The Wilkes Partnership Solicitors. The Wilkes Partnership are responsible for the day to day management of the charity under the direction of the board of Trustees.
Risk review
The Trustees have have considered the major risks to which the Trust is exposed and have reviewed those risks and established systems and procedures to manage those risks. The Trustees seek advice from the Trust's stockbrokers about investments and from the Trust accountants regarding other financial matters. The policy of the Trustees in respect of the Trust's investments is generally to seek and follow the advice given by the Trust's stockbrokers unless there are contra-indications. 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 2025
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1118962
Principal address
C/O The Wilkes Partnership 41 Church Street Birmingham B3 2RT
Trustees MrJ R Kay Mr AC Piddock Mr JJ Harrison
Auditors J W Hinks LLP Chartered Accountants and Statutory Auditors 19 Highfield Road Edgbaston Birmingham B15 3BH
Bankers Lloyds Bank Plc 36 - 38 New Street Birmingham B2 4LP
TRUSTEES’ RESPONSIBILITY STATEMENT
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
- 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 inappropriate 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 2025
TRUSTEES' RESPONSIBILITY STATEMENT - continued
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on LG; 4 December2F0, » VA20S: - and signed on its behalf by:
Trustee
Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
,
fe
Opinion
We have audited the financial statements of The Loppylugs and Barbara Morrison Charitable Trust (the 'charity') for the year ended 30 April 2025 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 has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.
-
In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 30 April 2025 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of lreland'; 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 Auditors' 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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, 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 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.
SS
Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
eee
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts 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 material respect with the financial statements; or
-
- sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees' Responsibilities Statement, the trustees are responsible for the preparation of the financial statements which 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 liquidate the charity or to cease operations, or have no realistic alternative but to do so.
eee
Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
SSet
Our responsibilities for the audit of the financial statements
We have been appointed as auditors 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 a Report of the Independent Auditors 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.
We identified areas of laws and regulations that could reasonably expected to have a material effect on the financial statements and discussed the policies and procedures regarding compliance.
Specific area's considered were as follows:
-
Enquiring with the trustees and others to gain an understanding of the operations, financial reporting and known fraud and error.
-
Evaluating and understanding the internal control system.
-
Performing analytical procedures as expected or unexpected variances in account balances or classes of transactions appear.
-
Testing documentation supporting account balances or classes of transactions.
-Confirming other accounts as appropriate.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.fre.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
$$
Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
in Hinks Ll?
J W Hinks LLP Chartered Accountants and Statutory Auditors
19 Highfield Road Edgbaston Birmingham B15 3BH
Date: J. Deceeber 2025
Page 8
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025
————8cess !2:.£.00 _c
==> picture [460 x 331] intentionally omitted <==
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Endowment|Total|Total|
|fund|Funds|funds|funds|
|Notes|£|£|£|£|
|INCOME AND|ENDOWMENTS|FROM|
|Investment|income|2|296,185|-|296,185|301,512|
|EXPENDITURE|ON|
|Charitable|activities|
|Grants|payable|289,700|-|289,700|300,025|
|Governance|Costs|30,406|-|30,406|24,843|
|Total|320,106|-|320,106|324,868|
|Net|(losses)|on|investments|-|(203,894)|(203,894)|(389,694)|
|NET (EXPENDITURE)|(23,921)|(203,894)|(227,815)|(413,050)|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|310,172|5,217,834|5,528,006|5,941,056|
|TOTAL FUNDS|CARRIED|FORWARD|286,251|5,013,940|5,300,191|5,528,006|
----- End of picture text -----
The notes form part of these financial statements
eeeee
Page 9
THE LOPPYLUGS AND BARBARA MORRISON
CHARITABLE TRUST
BALANCE SHEET
30 APRIL 2025
==> picture [458 x 319] intentionally omitted <==
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Endowment|Total|Total|
|fund|Funds|funds|funds|
|Notes|£|£|£|£|
|FIXED|ASSETS|
|Investments|6|80,582|5,013,940|5,094,522|5,413,499|
|CURRENT|ASSETS|
|Cash|at|bank|210,429|-|210,429|132,416|
|CREDITORS|
|Amounts|falling due|within|one year|7|(4,760)|-|(4,760)|(17,909)|
|NET CURRENT ASSETS|205,669|-|205,669|114,507|
|TOTAL ASSETS|LESS CURRENT|LIABILITIES|286,251|5,013,940|5,300,191|5,528,006|
|NET ASSETS|286,251|5,013,940|5,300,191|5,528,006|
|FUNDS|8|
|Unrestricted|funds|286,251|310,172|
|Endowment funds|5,013,940|5,217,834|
|TOTAL FUNDS|5,300,191|5,528,006|
----- End of picture text -----
The financial statements were approved by the Board of Trustees and authorised for issue on AGH PECMDPCE 2025... and were signed on its behalf by:
Trustee
The notes form part of these financial statements
Page 10
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
we
- 1, ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’:
- the requirements of Section 7 Statement of Cash Flows.
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets and disclosures of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.
However, given the circumstances of the charity, the Trustees do not believe that there are any estimates that are significant to the financial statements other than those discussed in the accounting policies.
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 liability is incurred and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
The charity is not registered for VAT purposes, the expenditure being shown inclusive of any VAT.
Expenditure on charitable activities comprises those costs incurred by the charity in delivery of its activities for the beneficiaries, which are primarily the costs of the grants.
Governance cost include those costs associated with 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 eventualities, the balance of income received should be fully expanded in the grants to be made. Unless otherwise specified, grants are invariably issued for the general purposes of the receiving charity 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 expenditure.
NTEeeee
Page 11
continued...
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 APRIL 2025
1. ACCOUNTING POLICIES - continued
TAXATION
The charity is exempt from tax on its charitable activities.
FUND ACCOUNTING
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 designated for other purposes.
Endowment funds represent expendable funds that carry no restrictions as regards maintaining the initial capital but which the trustees have chosen to invest in order to provide 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 gains or losses arising on the investments form part of the fund.
Investment income and gains are allocated to the appropriate fund.
GOING CONCERN
The financial statements have been prepared on a going concern basis. The trust is considered to have sufficient resources to continue in operation for the forseeable future. There are no material uncertainties surrounding the entity's ability to continue as a going concern.
The charity has significant investments, few fixed expenses and is able to set the value of the grants it gives to be in-line with its income. Consequently, the likelihood of the charity encountering financial difficulties is considered to be extremely low. There are no intentions for the charity to be wound up.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Dividends receivable from equity shares | 296,165 | 301,319 |
| Bank interest | 20 | 193 |
| 296,185 | 301,512 |
| 3. | GRANTS PAYABLE | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Grantspayable | 289,700 | 300,025 |
Page 12
continued...
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 APRIL 2025
a
3. GRANTS PAYABLE - continued
| Grants paid to Institutions : | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Acorn's Childrens Hospice | 6,225 | 6,225 |
| Birmingham Boys’ and Girls' Union | 10,325 | 10,325 |
| Birmingham Children's Hospital | 10,325 | 10,325 |
| Birmingham Royal Ballet | 6,225 | 6,225 |
| Birmingham St Mary's Hospice | 6,225 | 6,225 |
| Caringfor Life | 6,225 | 6,225 |
| Demand | 6,225 | 6,225 |
| Disabled Sailor's Association | 6,225 | 6,225 |
| DEBRA | 6,225 | 6,225 |
| ESO (2006) Ltd (English SymphonyOrchestra) |
6,225 | 6,225 |
| Hunts Servants’ Fund | 10,325 | 10,325 |
| Royal Shakespeare Company | 10,325 | 10.325 |
| Smallwood Trust | 10,325 | 10,325 |
| Supportthrough Court | 6,225 | 6,225 |
| Nuneaton & North Warwickshire Riding forthe Disabled Association | 6,225 | 6,225 |
| The Artist’s General Benevolent Institution | 6,225 | 6,225 |
| The Birmingham Blue Coat School | 10,325 | 10,325 |
| The Birmingham Wirelessforthe Blind | 10,325 | 10,825 |
| The Bumblebee Conservation Trust | 6,225 | 6,225 |
| The Chartered Accountants' Benevolent Association | 10,325 | 10,325 |
| The Churches Conservation Trust | 10,325 | 10,325 |
| The Foundation for Conductive Education | 6,225 | 6,225 |
| The London Stained Glass Repository | 6,225 | 6,225 |
| The Lord Taverners | 10,325 | 10,325 |
| The National Benevolent Charity | 10,325 | 10,325 |
| The People's Dispensaryfor SickAnimals | 10,325 | 10,325 |
| The Royal Air Force Benevolent Fund | 10,325 | 10,325 |
| The Royal Birmingham Society ofArtists | 10,325 | 10,325 |
| The Royal National Instituteforthe Blind | 10,325 | 10,325 |
| The Salvation Army | 10,325 | 10.325 |
| The Stained Glass Museum | 6,225 | 6,225 |
| Revitalise Respite Holidays | - | 10,325 |
| Narthex Centre (Sparkhill) | 6,225 | 6,225 |
| The Emily Jordan Foundation | 6,225 | 6,225 |
| Chance to Shine | 6,225 | 6,225 |
| Birmingham Botanical Gardens | 6,225 | 6,225 |
| St Gabriel's Centre | 6,225 | 6,225 |
| 289,700 | 300,025 |
All grants made are for the stated general charitable objectives of the recipient charities. Where on any occasion the grant is for or towards a particular charitable project this is conveyed to the charity when the grant is made.
ee
Page 13
continued...
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 APRIL 2025
—————S
3. GRANTS PAYABLE - continued
No grants were made to individuals (2024 : none).
4, TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2025 nor for the year ended 30 April 2024.
TRUSTEES' EXPENSES
There were no trustees’ expenses paid for the year ended 30 April 2025 nor for the year ended 30 April 2024.
5.
==> picture [432 x 332] intentionally omitted <==
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|COMPARATIVES FOR|THE STATEMENT OF|FINANCIAL ACTIVITIES|
|Unrestricted|Endowment|Total|
|fund|Funds|funds|
|£|£|£|
|INCOME AND|ENDOWMENTS|FROM|
|Investment|income|301,512|-|301,512|
|EXPENDITURE|ON|
|Charitable|activities|
|Grants|payable|300,025|-|300,025|
|Governance|Costs|24,843|-|24,843|
|Total|324,868|-|324,868|
|Net|(losses)|on|investments|-|(389,694)|(389,694)|
|NET (EXPENDITURE)|(23,356)|(389,694)|(413,050)|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|333,528|5,607,528|5,941,056|
|TOTAL FUNDS CARRIED|FORWARD|310,172|5,217,834|5,528,006|
----- End of picture text -----
Sr
Page 14
continued...
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025
en
6. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKETVALUE | |
| At 1 May 2024 | 5,413,499 |
| Additions Disposals Revaluations |
2,395,084 (2,439,174) (274,887) |
| At30 April 2025 | 5,094,522 |
| NET BOOK VALUE | |
| At 30 April 2025 | 5,094,522 |
| At30April2024 | 5,413,499 |
UK investments are represented by :
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Cost | Market | Cost | Market | ||
| Value | Value | ||||
| £ | £ | £ | £ | ||
| Equities Commercial |
Properties | 4,830,268 513,123 |
4,710,972 383,550 |
5,030,072 815,822 |
4,901,631 511,868 |
| Total | 5,343,391 | 5,094,522 | 5,845,894 | 5,413,499 |
Investments in individual entities held at 30 April 2025 which are over 5% of portfolio by value are :
| Market | |||
|---|---|---|---|
| Units | Investment | Value | % |
| 2025 | |||
| 400,000 | UKTreasury4.5% 07/12/2027 | 406,212 | 7.97 |
| 475,000 | Royal London Short Duration Credit Funds | 458,280 | 9.00 |
| 32,280 | J P Morgan Cleaverhouse Investment | 284,038 | 5.58 |
| 35,000 | TroyTrojan Income | 514,710 | 10.10 |
| 160,000 | DMSLatitudeGlobalFund | 282,720 | 5.55 |
eS
Page 15
continued...
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 APRIL 2025
SSee
==> picture [455 x 596] intentionally omitted <==
----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|7.|CREDITORS: AMOUNTS|FALLING|DUE WITHIN|ONE|YEAR|
|2025|2024|
|£|£|
|Other|creditors|4,760|17,909|
|8.|MOVEMENT|IN|FUNDS|
|Net|
|movement|At|
|At|1.5.24|in|funds|30.4.25|
|£|£|£|
|Unrestricted|funds|
|General|fund|310,172|(23,921)|286,251|
|Endowment|funds|
|Endowment|Funds|5,217,834|(203,894)|5,013,940|
|TOTAL FUNDS|5,528,006|(227,815)|5,300,191|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in|funds|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|296,185|(320,106)|-|(23,921)|
|Endowment|funds|
|Endowment|Funds|-|-|(203,894)|(203,894)|
|TOTAL FUNDS|296,185|(320,106)|(203,894)|(227,815)|
|Comparatives|for movement|in|funds|
|Net|
|movement|At|
|At|1.5.23|in|funds|30.4,.24|
|£|£|£|
|Unrestricted|funds|
|General fund|333,528|(23,356)|310,172|
|Endowment|funds|
|Endowment|Funds|5,607,528|(389,694)|5,217,834|
|TOTAL FUNDS|5,941,056|(413,050)|5,528,006|
----- End of picture text -----
LOO
Ss Eee
Page 16
continued...
, THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 APRIL 2025
es
8. MOVEMENT IN FUNDS- continued
Comparative net movement in funds, included in the above are as follows:
==> picture [426 x 129] intentionally omitted <==
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in|funds|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|301,512|(324,868)|-|(23,356)|
|Endowment|funds|
|Endowment|Funds|-|-|(389,694)|(389,694)|
|TOTAL FUNDS|301,512|(324,868)|(389,694)|(413,050)|
----- End of picture text -----
A current year 12 months and prior year 12 months combined position is as follows:
==> picture [423 x 143] intentionally omitted <==
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Net|
|movement|At|
|At|1.5.23|in|funds|30.4.25|
|£|£|£|
|Unrestricted|funds|
|General|fund|333,528|(47,277)|286,251|
|Endowment funds|
|Endowment|Funds|5,607,528|(593,588)|5,013,940|
|TOTAL FUNDS|5,941,056|(640,865)|5,300,191|
|——_——_—F|————|——————|
----- End of picture text -----
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
==> picture [427 x 129] intentionally omitted <==
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in|funds|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|597,697|(644,974)|-|(47,277)|
|Endowment funds|
|Endowment|Funds|-|.|(593,588)|(593,588)|
|TOTAL FUNDS|597,697|(644,974)|(593,588)|(640,865)|
----- End of picture text -----
eS
Page 17
continued...
THE LOPPYLUGS AND BARBARA MORRISON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025
eee
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2025.
Seeee ee
Page 18