REGISTERED CHARITY NUMBER.. 1119799 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2024 FOR THE JOHN LAMBERT CHARITIES- SHEPSHED
THEJOHN LAMBERT CHARITIES- SHEPSHED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2024 Page Report of the Trustees Independent Examiner's Report Statement of Flnancial Attivltles Statement of Financial Posltion Note5 to the Flnancial Statements 6 to 13
THE JOHN LAMBERT CHARITIES- SHEPSHED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities prepèring their accounts in accordance with the Flnancial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (effective I january 20191. OBJECTIVES AND AcfiviTIES Objertlves and alms The charity has the obligation to manage the scheduled properties and investments applying surplus income after Maintenan and management and provision for extraordinary repairs in the ration of.. al 1/3 for relief of those in need either generally or persons resident in the Ancient Parish of Shepshed who are in conditions of need, hardship or distress by making grants of moneyi or providing or paying for items, services or facilities, calculated to feduce the need, hardship or distress of such persons, subject to certain restrictions. bl 213 Education Foundation-. in promoting the education, including social and physical training, of persons resident in the area of the Anciont Parish of Shepshed who have not attained the age of 25 years and who are in need of financial assistance. The Trijstees employ the professional 5ervicÈs of a property letting agent and manager to collett rents, manage and maintain the property in a manner to optimise the return from the property investment. Grants are made after suitable enquiry by the Trustees to recipients under the terms of the object5 noted. Public benefit The trustee5 have paid due regard to guidance i55ued by the Charity Commission in deciding what activities the charity should undertake for the public benefit. ACHIEVEMENT AND PERFORMANCE The charity has distributed 2112023= 221 grants in the year, totalling £7,90012023.- £7,750). 1812023: 191 of these Erarits totalling £6,40012023.. £6,650) were distributed to individuals and 312023.. 31 of these grants totalling £1,50012023- £1,100) were distributed to institutions. These are analy5ed in the appendix to the accounts. FINANCIAL REVIEW Reserves policy The Trustee5 have determined to hold sufficient sums in reserve to enable them to meet, as far a5 possible, ¥Jnexpected major repairs to the propertie5. It is resolved by the trustees that cash reserves of £25,000 are set aside for thi5 purpose. At the end of the year the charity held reserves of £1.192,608 12023 £1,201,907) including cash reseNes of £128,322 12023: £141,3571 which is considered by the trustee5 to be sufficient ft)r the charity to carry out r(s objectives. STRUCTURE, GOVERNANCE AND MANAGEMENT The scheme document was sealed dated 28th February 1972 registerlng Charities. 11 John Lambert lexclusive of the Lambert Educational Foundation). No. 233664 21 The Lambert Educational Foundation. No. 528002. Both of the above were cancelled on the Register of Charities in lune 2007 with the John LAmbert Charitles, Shepshed No. 1119799 entered on the Central Register of Charities with effect from 22 lune 2007. REFERENCE AND ADMINISTRATIVE DETAIL5 Registered Charity number 1119799 Princlpal addre55 8 Smithyway Shepshed Loughborough Leicestershire LE12 9TQ Page I
THE JOHN LAMBERT CHARITIES- SHEPSHED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees MrA C Roberts Mrs B Ainsworth Mr E WAtkin MrMFox Mr B Grigg Mrs CHallam Mrs P Ollver Mrs T Whittington Mr G S Freckelton Mrj W Wortley (resigned 19.9.241 The body ol Trustees shall consist when complete of twelve competent persons residing in or near the area of the Ancient Parish of Shepshed. Trustees 3re appointed for a term of five years by the eK15ting Trustees. There shall be an Annual General Meeting and at least two ordinary meetings in each year. All known related party information Is disclosed in note 14 of the accounts, The trustees have assessed the major risks to which the charity 15 exposed, and are satisfied that Systems are in place to mitigate exposure to the major risks. Independent Examiner Niall Kingsley FCA Duncan & Toplis Limited 3 Princes Court Royal Way Loughborough Leicestershire LEII 5XR Clerk to the Trustees Mrsj Monk Propetty management agents Freckeltons Limlted l Leicester Road Loughborough Leics LEII IAE Disclosure of infomation to the Independent examiner Each of the trustee5 has confirmed that there is no information of which they are aware which is relevant to the independent examination, but of which the independent e*aminer is unaware. They have further confirmed that they have tsken appropriate steps to Identify such relevant information and to establlsh thèt the independent examiner is aware of such information. Approved by order of the board of tru5tee5 on ............................................. and signed on its behalf by.. Mr G S Freckelton - Trustee Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE JOHN LAMBERT CHARITIES- SHEPSHED Independent examiner's report to the trustees of The John Lambert Charities- Shepshed I report to the charity trLtstees on my examination of the accounts of The John Lambert Charities Shepshed (the Trust) for the year ended 31 December 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsiljle for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l- I report in respect of my ex3mlnation of the Trust's accounts carried out under Section 145 of the Act and In carryin8 Out mv examination I have followed all applicable Directions given by the Charity Commission under Section 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to rny attention in connettion with the examination glving me caL(se to believe that in any material respect= accounting records were not kept in respect of the Trust as required by Section 130 of the Act,- or the accounts do not accord with those records- or the accounts do not comply with the applicable requirements concernlng the form and content of accounts Set out In the Charities (Accounts and Reportsl Regulation5 2008 other than any requirement that the accounts give a true and fair view which is not a matter consldered as part of an independent examination. I have no toncerns and have come across no other matters In connection with the examination to which attention should be drawn In this report in order to enable a proper understanding of the accounts to be reached. Niall Kingsley FQA Duncan & Toplis Limited 3 Pfinces Court Royal Way Loughborough LetSter$hire LEII 5XR Date: CJ s/o%./2(J< Page 3
THE JOHN LAMBERT CHARITIES- SHEPSHED STATEMENT OF FINANCIAL AcnviTIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Unrestricted funds 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and leEacies 35,000 Investments Other income 51,122 832 58,474 Total 86,954 58,474 EXPENDITURE ON Charitable artivities Property Expen5e5 Other Expen5e5 Grants paid 84,371 4,593 7.900 23,797 5,133 7,750 Total 96,864 36,680 Net gains on investments 611 138,608 NET INCOMEIIEXPENDITUREI 19,2991 160,402 RECONCILIATION OF FUNDS Total funds brought forward 1,201,907 1,041,505 TOTAL FUNDS CARRIED FORWARD 1,192.608 1,201,907 The notes form part of these financial statements Page 4
THEJOHN LAMBERTCHARITIES- SHEPSHED STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2024 2024 Unrestricted funds 2023 Total funds FIXED ASSETS Investments Investments Investment property Notes io li 19.763 1,042,750 18,498 1,042,750 1,062.513 1,061,248 CURRENT ASSETS Debtors Cash at bank 12 4.073 128,322 2.374 141,357 132,395 143,731 CREDITORS Amounts falling due within one year 13 12,3001 13,0721 NET CURRENT ASSETS 130,095 140,659 TOTAL ASSEfs LESS CURRENT LIABILtTIES 1,192,608 1,201,907 NET ASSETS 1,192.608 1,201,907 FUNDS Unrestricted funds.. Unrestritted- General fund Designated- Education Fund Designated-Necessitous Fund Fair Value reserve 14 914,646 9,664 7,548 260,750 925.145 9,464 6.548 260,750 1,192,608 1,201.907 TOTAL FUNDS 1,192,608 1.201,907 The financial statements were approved by the Board of Trustees and authorised for issue on were signed on Its behalf by-. and Mr G S FreCkeon - Trustee The notes form part of these financial statements Page S
THE JOHN LAM8ERTCHARITIES- SHEPSHED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 GENERAL INFORMATION The John Lambert Charitie5- Shepshed is an unincorporated charity in England. The charity'5 registered number is 1119799. The charity's principal place of business is 8 Smithy Way, Shep5hed, Leicestershlre, LE12 9QT. The charSty has use of an office at 6-8 Belton Street, Shepshed, Leicestershire, LE12 9AB. The financial ststements are presented in sterling which is the functional currency of the charity and are rounded to the neèrest £. The significant accounting pollcies applied in the preparation of these account5 are set out below. These policies have been conslStef)tly applied to all years presented unless otherwise stated. The financial ststements cover the individual entity. The entity constltutes a public beneflt entity as defined by FRS 102. There are no material tjncertainties relating to Going Concern ACCOUNTING POLICIES Basis of preparing the financial statements The financial ststements of the charity, which is a public benefit entity under FRS 102, have been ppared in accordance with the Charities SORP IFRS 1021 '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 IFRS 1021 leffertive l January 20191,, Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Char((ies Att 2011. The financial Statements have been prepared under the historical cost corivention, with the exception of investments which are Included at market value, as modifled by the revalLtation of certain assets. The accounts lfinancial statements) have been prepared to give a 'true and fair, view and have departed from the Charities IAccounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following the relevant version of the Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 rather than the Accounting and Reporting by Charities.. Statement of Recommended Prartice effertive from l April 2005 which has since been withdrawn. The ftnancial statements are prepared on a going concern basis under the historical cost convention. modified to include certain item5 at fair value. The charity has taken advantage of the following disclosure exemption in preparing these financlal 5tstements, as permitted by FRS 102'The Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirements of Sertion 7 Statement of Cash Flows. Incorne All income is recogni5ed in the Statement of Financial Artivities once the charlty ha5 entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expendtture Liabllitles are recognised as expenditure as soon as there is o legal or construrtive 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 heading5 that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activlties on a basis consistent wlth the use of resources. Grant5 offered subjert to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Page 6 continued...
THEJOHN LAMBERT CHARITIES- SHEPSHED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES- contlnued Investment property Investment property is shown at most recent vèluatlon. Any aggregate surplus or deficit arising from changes in fair value is recogni5ed in the Statement of Financial Activities. Taxation The charity is exèmpt from tax on its charitable artivities. Fund accounting Unrestricted fund5 can be used in accordance with the charitable objective5 at the discretion of the trustees. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Investments Investments were recognised initially at fair value. Subsequently they are recognised at fair value with changes recogni5ed in 'net gainslllo55e51 on investments" in the SOFA as the shares are publicly traded so their value can be measured lIablY. Debtors and creditors receivable I payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Critical accountingjudgements and estimation uncertalnty In the application of the charitable company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liahilities that are not readily appaient frorrt other sources. estimate5 and underlying assumption5 are based on historical experience and other fattors that are consided to be relevant. Artual results may differ from these estimates. The estimates and underlying assumption5 are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revlsion and fttture periods if the revision affects both current and futu periods. There are no critical accountlng judgements or estimation uncertainty that, ir5 the opinion of the trustees, will have a material effert on the financial statements. DONATIONS AND LEGACIES 2024 2023 Donations 35,000 The £35,000 donation received in the year 15 a one-off donation from The Vine House TrusL a charity with Similar objectives which closed in the year. INVESTMENTS 2024 2023 Rents received Deposit account interest Income from Listed investments 48,930 1,532 660 56.730 1,127 617 51,122 58,474 Page 7 continued...
THE JOHN LAMBERTCHARITIES- SHEPSHED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 GRANTS PAYABLE 2024 2023 Grants paid 7,900 7,750 The total grants paid to institutions during the year was as follow5.. 2024 2023 Necessitous Fund 1,500 1,100 The totsl grants paid to individuals during the year was as follow5.. 2024 2023 Education FL*nd Necessitous Fund 5,600 800 5,950 700 6,400 6,650 SUPPORT COSTS Governan Costs Management Finance Totals Property Expen5e5 Other Expenses 84,371 2,481 84,371 4,593 12 2,100 86,852 12 2,100 88,964 Support costs, included In the above, are as follows.- Management 2024 Total activities 2023 Total artivities Propertv Expenses Other Expenses R2te5 and water Insurallce Postsge and stationery Sundrie5 Agents costs Repairs and maintenance Clerks honorarium Office cleaning Legal & professional 4,346 2,388 4,346 2,388 268 163 10,281 67,356 1,500 550 2,344 166 268 163 10,281 67,356 7,036 13,575 1,400 520 1,060 1,500 550 84,371 2,481 86.852 26,950 Page 8 continued...
THE JOHN LAMBERT CHARITIES- SHEPSHED NOTE5 TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 SUPPORT COSTS- contlnued Finance 2024 Other Expenses 2023 Total activities Bank charges 12 GovemancÈ t05t5 2024 Other Expenses 2023 Total activities Independent examiner's iemuneration 2,100 1,980 INDEPENDENT EXAMINERS, REMUNERATION 2024 2023 Independent examination 2,100 1,980 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 r>or for the year ended 31 December 2023. Trustees, expenses The reimbursement of trustees, expenses was 35 follows- 2024 NLtmber 2023 Number 2024 2023 Reimbursement of charitable expendEture incLtrred 163 163 EMPLOYEES There were employees and therefore no payroll in operation during the year. Thère were 10 trustees12023.. 101 and the clerk to the trustees. io. FIXED ASSET INVESTMENTS Investments MARKET VALUE At ljanuary 2024 Additions Revaluations 18,498 654 611 At 31 December2024 19,763 NET BOOKVALUE At 31 December2024 19,763 At 31 December2023 18,498 There We no investment assets outslde the UK. Page g continued...
THE JOHN iAMBERTCHARITIES-SHEPSHED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 io. FIXED ASSET INVESTMENTS- continued Cost or valuation at 31 Oecember 2024 is represented by.. Investments Valuation In 2024 19,763 Although the fixed asset investments are included In the financial statements at market valuation, the original cost of the assets is unavailable as they were acquired before the involvement of any of the current Trustees. Therefo it is not possible to disclose the unrealised gaSns that are Included withlr> the above funds. INVESTMENT PROPERTY ii. FAIR VALUE At l January 2024 nd 31 December2024 1,042,750 NET BOOK VALUE At 31 December 2024 1,042,750 At 31 December2023 1,042,750 Investment Properties The properties listed below have been owned for many years by the charity. The most recent forrnal valuation, a5 at 31st December 2023, was carrled out by the Propety Management Agents at open market value. The charity has the use of an office within 6 & 8 8elton Street considered to be of immaterial value for accounts apportionment purposes. Opening Valuation Closing Valuation Properties at Shepshed, Leics 2 Belton Street 4 Belton Street 6 & 8 Belton Street 10 Belton Street 12 Belton Street 14 Belton Street 16 Belton Street 18 Belton Street 20 Belton Street 214 Britsnnia Street 97,500 97,500 102.500 101,500 103,750 107,500 97,500 97,500 97,500 140,000 97,500 97,500 102,500 101,5(K) 103,750 107,500 97,500 97,500 97.500 140,000 1,042,750 1,042,750 The Trustees have reviewed investment property values as at 31 December 2024 and are satlsfied that they have not changed materially. Fair value at 31 December 2024 is represented bv= Valuation in 2024 1,042,750 Page 10 continued...
THE JOHN LAMBERT CHARITIES- SHEPSHED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors Prepayments 3,874 199 2,178 196 4,073 2,374 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors Accrued expenses 1,060 2,012 2,300 2,300 3,072 MOVEMENTIN FUNDS Net Transfers between funds movement in funds At 31.12.24 At 1.1.24 Unrestricted funds Unrestricted- General fund Designated- Education Fund Designated-NecessitOU5 Fund Fair Value re5eThe 925,145 9,464 6,548 260,750 11.3991 15,6001 12,3001 19.1(X)I 5,800 3,300 914,646 9,664 7,548 260,750 1,201,907 19,2991 1,192,608 TOTAL FUNDS 1,201,907 19.2991 1,192,608 Net movement in funds. included in the above are as follows.. Incoming resource5 Resources expended Gain5 and losses Movement in funds Unre5tri(ted fund5 Unrestrirted- General fund Designated- Education Fund Designated-Necessitous Fund 86,954 188,9641 15,6001 12,3001 611 11,3991 15,6001 12,3001 86,954 196.8641 611 19,2991 TOTAL FUNDS 86.954 196,8641 611 19,2991 Page 11 continued...
THE JOHN LAMBERT CHARITIES- SHEPSHED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 14. MOVEMENT IN FUNDS- contlnued Comparatives for movement in fvnds Net movement in funds Transfers between funds At 1.1.23 At 31.12.23 Unrestrlrted funds Unrestricted- General fund Designated- Education Fund Designated-Necessitous Ftjnd Fair Value reserve 903,743 9,414 5,348 123,000 30,402 15,9501 11,8001 137,750 19,000 6,000 3,000 925.145 9.464 6.548 260,750 1,041.505 160,402 1,201.907 TOTAL FUNOS 1,041,505 160,402 1,201,907 Comparative net movement in funds, included in the above are as follows: Incoming resource5 Resources expended Gains and 1055es Movement in fund5 Unrestrirted funds Unrestricted- General ft(nd Designated- Education Fund Designated-Necessitous Fund Fair Value reserve 58,474 128,9301 15,9501 11,8001 858 30.402 15,9501 11,8001 137,750 137,750 58,474 136,6801 138,608 160,402 TOTAL FUNDS 58,474 136,6801 138,608 160,402 The designated funds for Necessitous and Education Grants in accordance with the Trust document are derived from an 311ocation of surplus income after account has been made for general expenditure, management costs etc, of investment property and appropriate provision for repair and refurbishment of investment property. RELATED PARTY DISCLOSURES 15. There were no related party transactions for the year ended 31 December 2024 or the year ended 310ecember 2023. FINANCIAL INSTIIUMENTS 16. The carrying amount of the charity's financial instruments are as follows.. 2024 2023 Financial assets at fair value thn)ugh if7come and expenditure Listed investments 19,763 18,498 The incomes, expenses, net gains and net losses attributsble to the charity's financial Instruments are summarised as follows- 2024 2023 Net gains and1055es (including changes in fair value) Financial assets measured at fair value through net income/expenditure 611 858 Page 12 continued...
THE JOHN LAMBERT CHARITIES- SHEP5HED NOTES TO THE FINANCIAL STATEMENT5- continued FOR THE YEAR ENDED 31 DECEMBER 2024 16. FINANCIAL INSTRUMENTS- continued The total dividend income from financi31 assets that are measured at fair value through the income statement was £660 12023- £6171. Page 13
THE JOHN LAMBERT CHARITIES- SHEPSHED APPENDIX I-GRANTS PAID FOR THE YEAR ENDED 31 DECEMBER 2024 Education Fund Grants Individuals 30/0912024 Sophie Watson 3010912024 Ruby Rees 05/1112024 Winnie McKenna 0111012024 Liam Cunningham 3010912024 Scott Moss 01/10/2024 Freya Lakin 0211012024 Jon Luke Walker 25/0912024 Alice Phelp5 350 350 350 350 350 350 350 IE I 2211012024 Helena Mayfield 2211012024 Ella Monk 22/1012024 Nathan Tomlinson 1911212024 Millie Hewitt 1211112024 Amy Whitmore 14/1012024 Charlotte Jaques 08/1112024 Lydia Bird 20112/2024 Rhianne Lucavec 350 350 350 350 350 350 350 350 350 Necessitous Fund Grants Institutions 0211012024 Without Walls 1711212024 2, Shepshed Girls and Boys Brigade 1811212024 6" Shepshed Guides 500 500 500 Individuals 18/0712024 Hannah Bramley 1511012024 Katie Kerr-Preston 450 350