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Contents.
Chair's Report
Trustee5 in office 2022
The Solicitors, Charity Vision Mission Statement and Values
How we helped in 2021 in figures
Who we helped in 2021
in figures
Professional characteristics of those we helped
Tru5tees' Report..................................................
Statement of Trustees Responsibilities
Auditors Report to the Members............
Supporting The Solicitors, Charity
Statement of Financial Activities .
03
.05
.08
.22
.24
.29
31
Statement of Cash Flows.........................................
Balance 5heet.............................
Notes to the Account5 .
Who's who at The Solicitors, Charity................................................. 48
.33
.35
.37
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Trustees,
Report.
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|Income|2021|2020|
|---|---|---|
|Subscription s|55,425|153,558|
|and Donations|||
|Legacies|2,922|12,664|
|Residual Client Balances|912,122|610,965|
|Investment
Income|464,662|429,104|
|Other Income|27,500|36,500|
|Loan Repayments|188,484|272,494|
||1,651,115|1,515,285|
|(Loan Repayments
and Advances are|not included
in the|SOFA)|
|Expenditure|2021|2020|
|Grants and Welfare|1,679,132|1,875,336|
|Fundraising
8 Membership|205,536|222,738|
|Governance
Costs|30,401|38,431|
|Loan Advances||20,127|
||1,915,069|2,156,632|
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|||Investment
management
tender||
|---|---|---|---|
|||carried out in 2021||
|||IFAC meets quarterly to review financial||
|||position and monthly
management||
|Severe ongoing loss ofincome||accounts produced
Investment
managers
attend
IFAC||
|||twice a year||
|||Review ofapproach to reserves,||
|||funds and spending
rules under way||
|||Marketing
plan incorporates
RCB||
|||generation
as key target||
|||Policy and processes
in place reviewed||
|Data Protection and GDPR||by external
DPO||
|Compliance||Regular advice and guidance from|DPO|
|||Staff and trustee training
in Data||
|||Protection carried out regularly||
|||Audit ofall systems carried out in|2020|
|||by external cyber security specialists||
|||All recommendations
from audit||
|Software security||implemented
Regular guidance
updates from «yber||
|||security specialists followed up with||
|||ITservice providers||
|||Specific guidance
also proactively|sought|
|||Succession planning
informed
by skills||
|||audit for Board and sub-committees.||
||~|New trustees with specific expertise||
|Quality ofBoard decision making||recruited
in 2021
Committee
TaRs reviewed
in 2021||
|and effectiveness||Governance
Oversight||
|||Committee
established||
||~|Development
ofboard appraisal||
|||mechanisms
underway||
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Independent auditor's
report to the members
of the Solicitors, Benevolent
Association Limited.
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Supporting
The Solicitors, Charity
##
##
|ayments
of2250 and above
in 20
ollowing:|21 induded
|
|---|---|
|Finn &other solicitors'||
|organisations||
|Donations||
|City of London Solicitom'||
|Company|2,500|
|London Solicitors' Litigation||
|Association|1.000|
|Browne Jacobson LLP|750|
|Royds Wtthy
King Solicitors|500|
|Hegarly
Solicitors
Newland
Solicitors Ltd|460
425|
|Bond Pearce LLP Solicitors|390|
|Seymours
Solicitors
Gillhams
Solicitom
Tozers Solicitors
Cartmell
Shepherd
Solicitors
The Merriman
Partnership|350
300
275
250
250|
##
##
|Devon &Somerset|Law Society|1,750|
|---|---|---|
|Bournemouth
&District Law Society||1,000|
|Cornwall
Law Society||1,000|
|Halifax Incorporated|Law Society|1,000|
|Leicestershire
Law|Society|500|
|Cardiff District Law|Society|250|
|Notaries Society||250|
##
|Generous donations|were|also|received from:|
|---|---|---|---|
||||5|
|The Pritt Fund*|||16,000|
|HM Hubbard
Will Trust|||5,000|
|The Charles Russell|Speechlys|||
|Foundation|||5,000|
|Mills &Reeve Charitable||Trust|1,500|
Statement of
Financial Activities.
##
|||Unrestricted|Restricted|Endowment|Total Funds|Total Funds|
|---|---|---|---|---|---|---|
||Note|Funds|Funds|Funds|2021|2020|
|||||||E|
|INCOME|||||||
|Donations and Legacies||970469|27500||997,969|813,687|
|Investment
Income||464662|||464 662|429104|
|Total Income||1435131|27500||1
631|1242 791|
|EXPENDITURE|||||||
|Raising Funds|s|197,640||7,896|205,536|222,738|
|Charitable
Activitie|7|1682033|27500||709533|I913767|
|Total E
nditu||1879673|27500|7896|1915069|21365 5|
|NET EXPENDITURE|||||||
|before gains on investments||(444,452)||(7,896)|(452,438)|(893,714)|
|Net gains on Investments|12|1,891,012||603,718|2,494,730|10,441|
|NET MOVEMENT IN FUNDS||1,446,470||595,822|2,042,292|(883,273)|
|RECONCILIATION
OF FUNDS;|||||||
|F n
b
h Forward||18818971||6008074|24827|2 71 318|
|TOTAL FUNDS CARRIED FORWARD||20,265,441||6,603,896|26,869,337|24,827,045|
Statement of
Cash Flows.
|||||Total Funds|Total Funds|
|---|---|---|---|---|---|
||||Note|2021|2020|
|Net Cash (used in)/ provided
byoperating activities|||22|(842,600)|(784,930)|
|Coshfiows fmm investing|activities:|||||
|Interest and dividends|||5|464,662|429,104|
|Purchase ofinvestments|(excluding|cash equivalents)|12|(1,944,675)|(4,387,138)|
|Proceeds from sale ofinvestments|||12|18199242|4404 912|
|I' vi
used in investin
activities||||16719229|446878|
|Change
In cash and cash|equivalents|in the year||15,876,629|(338,052)|
|Cash and cash equivalents|brought forward|||1,493,493|1,831,545|
|Cash and cash equivalents|Carried forward||23|17,370,122|1,493,493|
Balance
Sheet.
##
||||||Unrestricted||Endowments||Taint Funds|Taint Funds|Total Funds|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||Note
Funds|||Funds|||2021|2020|
||||||E||f||||6|
|Tangible Fixed Assets||||11
179,841||||||279WS|190,980|
|Investments||||12|||5,670,304|||5,67LS304|29Jt30,141|
|Secured loans to benefida||ries|||S,928,526|||-||3,928~6|4,113,820|
||||||4,103,367||5,670,304|||9,778,671|23,7$4rgot|
|Oebtom||||ts|135,256|||||135,256|143,150|
|Cash and cash enuivalents|||||16,436,530||933,592|||17,370,122|tr493J(83|
||||||16,571,786||933,592|||17,505,378|1,636,64$|
|Creditors fsSing due||||||||||||
|within one year||||14|(405,104)|||||(405,104)|(533,863)|
|Net current assets|||||16,166,6S2||953,592|||17,M0,274|1,102,780|
|Total Assets less Current||||||||||||
|Uabgities|||||20,275,049||6,603,896||26/TS,945||24,837,721|
|Creditors falling due||||||||||||
|After mare than one year|||||(9,608)|||||(9,808)|(10,676)|
||||||20,265,441||6,603,895||26~,337||24,827p04S|
|Funds||||||||||||
|Unmstricted
Funds||||||||||||
|General Fund||||ts|7r436,736||||7~736||6,897,050|
|Residual
Client aalances||||||||||||
|Undesignated
Fund||||se|3,227,879||||3,227,873||3,227,879|
|Designated
Fund||||ts|9,600,826||||9,600,826||8,694,042|
|Endowmern
Funds||||ta|-||6,603,896||6,$8,896||Sft08,074|
|Total Funds|||||20,265,441||6,603,896||26~,3$7||2JS827r045|
|notes on poges|32 to 42form part|||ofthese
These|||accounts
on||pages 29 to 41||were oppro|
|unts.
Solicitors|Benevolent||Assoc/orion||Limited
the|Boord of Trustees||||ond authorised for issu||
|istered
componlr|number: 6601907||||15June 2022 and|||signed on its ocher
by:||||
|stered
charity number:||1124512||||||||||
||||||Vi|i|oSetter||r|||
||||||irs||Mc wen,||nor|y(FT
surer||
||||||||(|||||
Notes to
the Accounts,
##
|||||||Unrestricted|Restricted|Endowment|Total Funds|
|---|---|---|---|---|---|---|---|---|---|
||||||Notes|Funds|Funds|Funds|2020|
|||||||f|f|f|f|
|2.|Previous Year Statement ofFinancial||||Activities Analysis|||||
||INCOME|||||||||
||Donations
and Legacies|||||777,187|36,500||813,687|
||Investment
Income|||||429,104|||429,104|
||Total Income|||||1,206,291|36,500||1,242,791|
||EXPENDITURE|||||||||
||Raising Funds|||||218,786||3,952|222,738|
||Charitable
Actiwities|||||1,877,267|36,500||1,913,767|
||Total Expenditure|||||2,096,053|36,500|3,952|2,136,505|
||NET INCOME/(EXPENDITURE)|||||||||
||before other recognised gains||and|losses||(889,762)||(3,952)|(893,714)|
||Other recognised gains and|losses||||||||
||Realised loss on investment|assets||||(450,4SO)||(137,416)|(587,896)|
||Unrealised
gains on investment||assets|||458,480||139,857|598,337|
||NET MOVEMENT
IN FUNDS|||||(881,762)||(1,511)|(883,273)|
||Funds brought forward|||||19,700,733||6,009,585|25,710,318|
||TOTAL FUNDS CARRIED FORWARD|||||18,818,971||6,008,074|24,827,045|
|||||Unrestricted||Restricted|Endowment|Total Funds|Total Funds|
||||||Fullds|Funds|Funds|2021|2020|
||||||f|f|f|f|f|
||3.
Donations and Legacies|||||||||
||Annual
subscriptions
and Donations||||54,357|||54,357|152,372|
||Life subscription
s(see note 15)||||1,068|||1,068|1,186|
||Legacies||||2,922|||2,922|12,664|
||Other charities
(see note 20)|||||27,500||27,500|36,500|
||Residual client balance|||||||||
||donations
(see note 19)||||912,122|||912s122|610,965|
||||||970,469|27,500||997,969|813,687|
|Notes tothe Accounts|Notes tothe Accounts|||||||||
|---|---|---|---|---|---|---|---|---|---|
|fortheyear
ended||||||||||
|31December 2021||||||||||
|Continued||||||||||
||||||Unrestriicted|Total|Funds||Total Funds|
||||||Funds||2021||2020|
|4.|Fundraising
Activities|||||||||
||Events|||||||||
|5.|Investment
Income|||||||||
||income from listed investments||||464,365|464,365|||427,388|
||Interest on cash deposits||||297||297||1,726|
||||||464,662||||429,104|
|||||UnrestriiCted
Restricted||Endowment|Total Funds||Total Funds|
||||||Funds
Funds|Funds||2021|2020|
||||||f
E|E||f|f|
|6.|Raising Funds|||||||||
||Costs ofraioging voluntary|Income||||||||
||Business development
and|advertising|||66,510|||66,510|167|
||Repayments of residual client balance||||5,338|7,896||13,234|6,007|
||donations
(see notes 18and 19)|||||||||
||Investment
portfolio management||fees||88,822|||88,822|77,797|
||Salary costs||||11,829|||11,829|38,909|
||Support costs
(see note|10)|||25,141|||25,141|99,858|
||||||197,640|7,896||205,536|222,738|
||||||Unrestricted|Restricted|Total|Funds|Total Funds|
||||||Fundsf|Funds
6||2021
f|2020
f|
|7.|Charitable
Activities|||||||||
||Grants to beneficiaries|||||||||
||Cost of living allowances||||538,538|27,500|566,038||902,256|
||Supplementary,
special and|||||||||
||miscellaneous
grants||||330,402||330,402||255,369|
||LawCare||||110,000||110,000||90,000|
||Citizens Advice Manchester||||7,920|||7,920|4,980|
||Renovo Fees||||9,858|||9,858|18,960|
||||||996,718|27,500|1,024,218||1,271,565|
||Welfare salaries, travel, admin and||legal|costs|257,497||257,497||212,609|
||Support costs
(see note 10)||||397,417||397,417||391,162|
||Governance costs
(see note 8)||||30,401||30,401||38,431|
||||||1,682,033|27,500|1r709,533||1,913,767|
##
|||||||||Vnrestricted|Vnrestricted|Vnrestricted|Vnrestricted||Restricted|Restricted|Total|Funds|Total Funds|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||Funds||||Funds||2021|2020|
|||||||||||||E||E|||E|
|8.|Governance
Costs|||||||||||||||||
||Auditors'
remuneration|||-|audit services|||||9,900||||||9,900|11,577|
||Consultancy
inc.Trustee recruitment|||||||||17,439||||||17,439|24,000|
||Cost ofTrustees'
meetings|||||and travel||||3,062||||||3.062|2,854|
|||||||||||30,401||||||30,401|38,431|
||Expenses reimbursed|to||3Trustees (2020:3)for travel amounted|||||to|61,121||(2020:6943). No other reimbursements
were made toTrustees.||||||
||Consultancy
incl. Trustee|||recruitment|||cost617,439(2020;E24,000)|||||||||||
|||||||||||Staff||||||Total||
|||||||||||Costs||||||2021||
||||||||||||E|||||6||
|9.|Total bxpenditure|||||||||||||||||
||Raising Funds|||(see note 6)||||||26,912||||178,624||205,536|222,738|
||Charitable
activities|||(seenote 7)|||||425,212|||||1,284,321||1,709,533|1,913,767|
||||||||||452,124|||||1,462,945||1,915,069|2,136,505|
||Staffcosts|||||||||||||||||
||Wages and salaries|||||||||||||||3S8,160|369,029|
||Socialsecurity costs|||||||||||||||42,603|32,249|
||Pension costs|||||||||||||||18,801|18,112|
||StaffTraining Costs|||||||||||||||2,560|4,188|
|||||||||||||||||452,124|423,578|
||Other costs|||||||||||||||||
||Grants to beneficiaries|||||||||||||||1,024,218|1,27L565|
||Premises, equipment||and||administrative|||||||||||169,158|245,194|
||Business development,|||advertising,|||legal,|audit and trustee|expenses|||||||256,335|190,161|
||Re a ments of residual|||client balances (see notes 18)||||||||||||13,234|6,007|
|||||||||||||||||1r462,945|1,712,927|
||Emp/oyees
who received||emolvmentsr|||||||||||2021||2020||
||Above E90,000|||||||||||||1||||
||E80,001toE90,000|||||||||||||||||
||E70,001toE80,000|||||||||||||||||
||E60,001toE70,000|||||||||||||||||
||The
average
monthly|||head||count|was|7.4 staff
(2020:||6.S),|and||the|average|rnontihly|number
of|employees|
||on a full time equivalent|||basis||was:||||||||2021||202(i||
||Beneficiary welfare||||||||||||||3.4|2.8||
||Fundraising,
membership,||||and publicity|||||||||0.2||1.0||
||Management
and administration||||||||||||||3.8|3.0||
|||||||||||||||7.4||||
##
##
##
|||2021|2020|
|---|---|---|---|
|14.|Eyeditors: amounts
falling due within one year|||
||Trade creditors and accruals|66,069|149,781|
||Unpaid beneficiary
awards|308,356|371,317|
||Other tax and soaal security|30,679|12,765|
|||405,104|533,863|
|||2021|2020|
|15.|Creditors: amounts
falling due after more than One year|||
||Life subscription
s - Balance at1January|10,676|11,862|
||Received during the year|||
|||10,676|11,862|
||Transferred to income|(1,068)|(1,186)|
||Balance at31December||10,676|
##
|2020 The End|owment
Fun|d comprises solely ofinvestments.|Agotherassets|were
Includ|edin
the 6enenrl Fund.||
|---|---|---|---|---|---|---|
|||||Permanent|Endowment||
||||Main||Residual Client|Total|
||||Fund||Balance Fund|Funds|
||||f||f|E|
|18 Endowment|Funds (Current Year)||||||
|At 1January|2021||2,058,507||3,949,567|6,008,074|
|Movements|- Residual|Client Balance Repayments|||(7,896)|P,896)|
|-Investment
Gains|||206,848||396,870|603,718|
|At 31December 2021|||2,265,355||4,338,541|6,603,896|
|Endowment
Funds (Prior||Year)|||||
|At 1January|2020||2,057,671||3,951,914|6,009,585|
|Movements|- Residual|I7lent Balance Repayments|||(3,952)|(3,952)|
|-Investment
Gains|||836||1,870|2,441|
|At 31December 2020|||2,058,507||3,949,567|6,008,074|
##
##
|20 Restricted Funds||(Current Year)||||||
|---|---|---|---|---|---|---|---|
|||At|1January|Incoming|Outgoing|Transfer/Gains|At31December|
||||2021|Resources|Resources|or Losses|2021|
||||f|f|f||f|
|The HM Hubbard|Will Trust|||5,000|(5,000)|||
|The City ofLondon||Solicitor's||6,500|(6,500)|||
|Company-Charitable||Fund||||||
|The Pritt||||~16000|~16000|||
|||||~27||||
|20Restricted Funds||(Prior Year)||||||
|||At 1January||Incoming|Outgoing|Transfer/Gains|At 31December|
||||2020
f|Resources
f|Resources|or Losses
f|2020
f|
|The HM Hubbard|Will Trust|||20,000|(20,000)|||
|The City ofLondon||Solkftor's|||(2,500)|||
|Company-Charitable
The Pritt||Fund||~14 000|~14,000|||
|||||3~6500|~36500|||
||||||Permanent|Endowment|||
|---|---|---|---|---|---|---|---|---|
||||||General|Main|Residual Client|Total|
||||||Fund|Fund|Balance Fund|Funds|
||||||f|f|E|f|
|21|Reconciliation ofMovements||in|Unrealised|||||
||Gains on Fixed Asset Investments||||||||
||Net unrealised|gains at 1January 2021|||3,751,418|428,546|633,917|4,813,881|
||Add attributable|to disposals|in the year||(2,492,771)|(284,764)|(421,230)|(3,198,765)|
||Add: net gains|on revaluations||inthe year|342,363|37,449|71,852|451,664|
||Net unrealised|gains at 31December 2021|||1,601,010|181,231|284,539|2,066,780|
|||||Total Funds|Total Funds|
|---|---|---|---|---|---|
|||||2021|2020|
|||||f|f|
|22.Reconciliation ofnet rnovernent||in|funds to net|||
|cash flow from operating
activities||||||
|Net movement
in funds||||2,042,292|(883,273)|
|Add back depreciation
charge||||13,248|9,267|
|Deduct income shown
in investing|||activities|(464,662)|(429,104)|
|Deduct gains on investments||||(2,494,730)|(10,441)|
|Purchase of Property
Plant &|Equipment|||(2,109)|(17,844)|
|Decrease in secured loans to|beneficiaries|||185,294|286,801|
|Decrease in debtors||||7,894|37,251|
|Increase/(Decrease)
in creditors||||(129,827)|222,413|
|Net cash flow from operating|activities|||(842,600)|(784,930)|
|||||Total Funds|Total Funds|
|||||2021|2020|
|23.Analysis ofCash and Cash Equivalents||||||
|Cash in hand||||17,370,122|1,493,493|
|Total Cash and Cash Equivalents||||17,370,122|1,493,493|
##