## **Waltham St Lawrence Charities** **Foot, Knight and Newbery Relief in Need Charity Wandesford and How Educational Charity Beale and Braybrooke Relief in Sickness Charity** **Registered Charity No. 204983** **ANNUAL REPORT AND ACCOUNTS** **FOR THE YEAR ENDED DECEMBER 31st 2021** **Index Pages Trustees’ Report 2-3 Independent Examiner’s Report 4-5 Accounts 6-9** **WALTHAM ST LAWRENCE CHARITIES** 1 ## **Foot, Knight and Newbery Relief in Need Charity Wandesford and How Educational Charity Beale and Braybrooke Relief in Sickness Charity** Registered Charity No. 204983 ## **Trustees’ Report for the year ended December 31st 2021** The Charities are governed by Schemes of the Charity Commission dated 18 March 2009 and 12 April 2011. The correspondence address is c/o Coltmans, The Street, Waltham St Lawrence, Berkshire RG10 0JJ. The Trustees during the year were: - c Mr Richard Sykes Chairman - c Mrs Cynthia Philp (to 6.12.21) Vice Chairman - n Mr Nicholas Kohl Honorary Treasurer - The Revd Charles Mason Ex officio - n Mrs Prudence Williams - c Mrs Polly Pollecutt - n Mr Jeremy McEvett - c Dr Robert Lynam (from 6.12.21) c = Co-opted Trustee, n = Nominated Trustee The Charities are administered for the benefit of those resident in the Parish of Waltham St Lawrence, with the following objectives: - to relieve those in need - to relieve those who are sick - to promote education and training - to promote any charitable purpose in the Parish 2021 began with another period of Covid lockdown under which Government restrictions required The Bell to be closed completely except for takeaways of food and soft drinks. This lasted till mid-April when outdoor service was permitted, and then a month later indoor service was also permitted at The Bell, but subject still to the restrictions of table service only, track & trace, social distancing and groups limited to six persons or two households. Though these restrictions were lifted in mid-July public confidence as to the safety of going out was slow to return and then was further dented when the Omicron variant of the virus emerged in the Autumn. All this was highly relevant to the Charities as they derive most of their income from The Bell. The adverse impact of Covid on The Bell’s trade meant in effect a significant reduction in the Charities’ income for a second year running and therefore in their ability to make grants to others. 2 In recent years there have been the two main groups of beneficiaries: those more senior in years who receive an annual payment in January, and those at the younger end of the spectrum who receive grants to help with the mounting costs of further education. The trustees took the view, as they did in 2020, that priority should be given to the former group. The annual distribution to qualifying residents made in January 2021 amounted to £18,550, with 50 recipients. In relation to grants for further education the trustees again took the same view as they had taken in the previous year when Covid led to a reduction in the Charities’ income. They did not wish to discourage applicants with a particularly strong need and, rather than suspend the scheme completely, they required all applicants to provide with their application a justification as to why they should receive a grant from the limited income available. Grants made during the year for education amounted to £1,095. This included a grant to the village school for the library and for the annual Newbery Reading prize. The People to Places bus service for qualifying residents was able to operate again from the end of lockdown, with a total of 161 people trips. LifeLine personal alarms were made available through the Charities to a total of 17 individuals. The total given away in grants and services provided by the Charities in 2021 was £23,505 (£24,092 in 2020). Unlike in the previous year, little needed to be spent during 2021 on the maintenance of The Bell, and an income surplus of £7,586 was achieved, compared with an income deficit in the preceding year of £18,879. Thanks to an increase of £46,993 during 2021 in the value of our COIF investments, total assets at 31 December 2021 were £646,510. I would like to thank all the trustees for their contributions to the running of the Charities during the year and in particular Nick Kohl for acting as Treasurer in addition to his other involvements with the Charities, and Polly Pollecutt for organising the People to Places bus service, but on this occasion I would like to pay a special tribute to Cynthia Philp, the longest serving of the trustees who for more than 25 years has benefited our meetings with her wisdom and deep knowledge of the village, not to mention her unfailing good humour, and who has now retired as a trustee. In her place we welcome Dr Rob Lyman. For the Trustees ## _R Sykes_ Richard Sykes Chairman 18 February 2022 3 ## **Independent Examiner's Report** ## **To The Trustees of Waltham St Lawrence Charities (No. 204983)** I report on the accounts of the Waltham St Lawrence Charities for the year ended December 31st 2021, which are set out on pages 6 to 9. ## **Respective responsibilities of trustees and examiner** The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the Charities Act, - to follow the procedures laid down in the general Directions given by the - Charity Commission under section 145(5)(b) of the Charities Act, and - [to state whether particular matters have come to my attention. ] ## **Basis of independent examiner's report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below. 4 ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 130 of the Charities Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## _Roger Sparrow_ Dr Roger Sparrow Meirion House Innings Lane White Waltham SL6 3RU March 2022 ## **Waltham St Lawrence Charities (Reg Charity No. 204983) Income & Expenditure** 5 ## **January through December 2021** |||| |---|---|---| ||D
**Jan -**
**ec 21**|D
**Jan -**
**ec 20**| ||**£**|**£**| |rd
r
**O**
**ina y Income/Expense**||| |**Income**||| |R
**Bell**
**ent**|.
31,958 33|.
13,208 35| |r
**COIF Inte est**|.
0 09|.
7 21| |d D
**Total Gifts an**
**onations Income**|.
1,322 90|.
8,667 36| |r
**G ants**|.
0 00|.
325 00| |dd
**Sue's Pi**
**le**|.
291 67|.
275 00| |**Total Income**|.
33,572 99|.
22,482 92| |**Expense**||| |d
r
**A minist ation**|.
49 20|.
98 60| |R
r
M
**Bell**
**epai s/**
**aintenance**||| |d
**Bay Win ow**|.
1,250 00|.
0 00| |**Chimney**|.
-425 00|.
0 00| |**Thatching**|.
0 00|.
14,081 00| |R
r
M
r
**Bell**
**epai s/**
**aintenance - Othe**|.
10 82|.
450 00| |R
r
M
**Total Bell**
**epai s/**
**aintenance**|.
835 82|.
14,531 00| |**Benevolence**||| |**Annual Payment**|.
18,550 00|.
18,355 00| |d
**E ucation**|.
1,095 50|.
2,300 00| |**Elizabeth Knight**|.
79 00|.
0 00| |r
**G ant**|.
450 00|.
1,000 00| |**LifeLine**|.
1,232 20|.
1,000 98| |r
**T avel-Taxi**|.
385 40|.
335 00| |r
**T avel P2P**|.
1,713 00|.
1,101 00| |**Total Benevolence**|.
23,505 10|.
24,091 98| |d D
**Gifts an**
**onations**|.
0 00|.
627 83| |r
**Insu ance**|.
0 00|.
0 00| |M
r
**aintenance Bell Gene al**|.
902 19|.
0 00| |r
**P ofessional Fees**||| |**Consulting**|.
0 00|.
432 50| |r
r
**P ofessional Fees - Othe**|.
695 00|.
0 00| |r
**Total P ofessional Fees**|.
695 00|.
432 50| |dd
M
**Sue's Pi**
**le**
**aintenance**|.
0 00|.
1,580 00| |**Total Expense**|.
25,987 31|.
41,361 91| |rd
r
**Net O**
**ina y Income**|.
7,585 68|.
-18,878 99| |**Net**
**Income**|.
**7,585 68**|.
**-18,878 99**| |6||| ## **Waltham St Lawrence Charities (Reg Charity No. 204983) Balance Sheet December 2021** ||D
**ec 31,**
**21**
**Notes**|D
**ec 31,**
**20**| |---|---|---| ||**£**|**£**| |**ASSETS**||| |d
**Fixe**
**Assets**||| |**Bell Inn**|.
260,000
00
**1**|.
260,000
00| |dd
**Sue's Pi**
**le**|.
30,000 0
0
**2**|.
30,000 0
0| |r
rd
**The Bell O cha**|.
15,000 0
0
**3**|.
15,000 0
0| |d
**Total Fixe**
**Assets**|.
305,000
00|.
305,000
00| |r
**Othe Assets**||| |**COIF Global Equity**|.
177,384
03
**4**|.
149,289
00| |d
**COIF Investment Fun**|.
127,199
10
**5**|.
108,301
00| |r
**Total Othe Assets**|.
304,583
13|.
257,590
00| |rr
**Cu ent Assets**||| |R
**Accounts**
**eceivable**||| |R
**Accounts**
**eceivable**|.
1,748 03|.
1,947 35| |R
**Total Accounts**
**eceivable**|.
1,748 03|.
1,947 35| |rr
**Cu ent/Savings**||| |r
rr
**Ba clays Cu ent**|.
35,708 3
2|.
22,767 1
9| |r
D
**Ba clays**
**eposit**|.
12,599 8
0|.
12,598 5
6| |D
**COIF**
**eposit**|.
296 40|.
296 31| |rr
**Total Cu ent/Savings**|.
48,604 5
2|.
35,662 0
6| |rr
**Total Cu ent Assets**|.
50,352 5
5|.
37,609 4
1| |rr
**Cu ent Liabilities**||| |**Accounts Payable**||| |**Accounts Payable**|.
-375 92|.
-2,582 36| |**Total Accounts Payable**|.
-375 92|.
-2,582 36| |r
rr
**Othe Cu ent Liabilities**||| |R
D
**ent**
**eposit**|.
12,599 8
0
**6**|.
12,598 5
6| |r
**VAT Cont ol**|.
1,201 84|.
76 25| |r
rr
**Total Othe Cu ent Liabilities**|.
13,801 6
4|.
12,674 8
1| |rr
**Total Cu ent Liabilities**|.
13,425 7
2|.
10,092 4
5| |RR
**NET CU**
**ENT ASSETS**|.
**36,926 8**
**3**|.
**27,516 9**
**6**| |RR
**TOTAL ASSETS LESS CU**
**ENT**
**LIABILITIES**|.
646,509
96|.
590,106
96| |**NET ASSETS**|.
646,509
96|.
590,106
96| ## **Waltham St Lawrence Charities Notes to Accounts Year Ended December 31[st] 2021** 1. Land with buildings known as THE BELL INN Estimated Market Value 1999. Current Insured Sum £2,277,966 2. Land containing 2.2 acres or thereabouts known as Sue’s Piddle Estimated Market Value 2005. 3. Land containing 1.3 acres or thereabouts known as The Bell Orchard Estimated Market Value 2005. The Trustees do not feel it appropriate to go to the expense of updating these valuations as they do not feel it would currently serve any useful purpose. All three of above are vested in THE OFFICIAL CUSTODIAN FOR CHARITIES 4. This is a holding of COIF Global Equity Fund at valuation 31/12/21 5. This is a holding of COIF Charities Investment Fund at valuation 31/12/21 6. This liability is covered by matching funds held on a separate deposit account **Accounting Basis** – The Accounts are dealt with on an accrual basis ## **Reserves** The Trustees feel that, if for any reason the Charities’ income temporarily dries up, it is only the Annual Benevolence, services (Lifeline, People to Places and taxis) and certain other grants to individuals that the Trustees would want to continue paying during the period without income. Also, the Charities’ insurance would provide up to 3 years’ rent should The Bell be destroyed or damaged to such an extent that the rent was not payable. The **Benevolence Reserve** is the total of the previous 2 years’ Annual Benevolence plus services and grants to individuals but excluding education grants. The **Bell General Reserve** was for some years considered sufficient and was only increased each year by whichever was greater of RPI or CPI. However the exterior works to The Bell in 2016 cost considerably more than the Trustees had expected, and they decided that with effect from 2017 they would increase the reserve by £5,000 each year in addition to the greater of RPI (2021: 6.3%) or CPI (4.8%) to cover anticipated increased costs of c.5-yearly maintenance. Following the new thatch during the year the **Bell Thatch Reserve** was re-set at £1500 for the remainder of 2020 and will be increased in subsequent years by £1500 plus whichever is the greater of RPI & CPI. 8 |Benevolence Reserve
Bell General Reserve (plus RPI = 6.3% & £5,000 p.a.)
Bell Thatch Reserve
**Total Specific Reserves**
|2021
2020

42,328
49,112
158,731
144,620
3,095
1,500
**£204,154**
**£195,232**| |---|---| ## **Actual Reserves at 31.12.21:** |
**COIF Global Equity Fund**
**COIF Charities Investment Fund**
**Total**|**177,384**
**127,199**
**£304,583**|**177,384**
**127,199**| |---|---|---| |**Additional Information**|||| |---|---|---|---| ||Individuals|Institutions|People| ||||Trips| |Annual Payment|50||| |Education|2||| |Elizabeth Knight Bequest|20||| |Grants|1|1|| |Lifeline|17||| |Travel – Taxi|4||19| |Travel – P2P|9||161| 9