REGISTERED CHARITY NUMBER: 205975
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
HENRY AND ELIZABETH LINEHAM FUND
HENRY AND ELIZABETH LINEHAM FUND
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Report of the Independent Auditors | 5 to 8 |
| Statement of Financial Activities | 9 |
| Statement of Financial Position | 10 |
| Notes to the Financial Statements | 11 to 16 |
| Detailed Statement of Financial Activities | 17 |
HENRY AND ELIZABETH LINEHAM FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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 aims
The object of the charity is the relief or prevention of poverty for the public benefit among women who are resident in Northampton from time to time, with preference to those who have lived in the area the longest by, in order of priority:
(a) granting pensions; or
(b) making grants of money.
Income: £50,000 to £60,000 per annum
Previously this charity had been reported as part of the Northampton Municipal General Charities. Following the winding up and transfer of the assets of some of the smaller charities at 31 December, 2003 there were three main Charities, of which this is one.
The Henry and Elizabeth Lineham Fund incorporated all the annuity giving charities and, following the Trustees' decision made at the Meeting on 18 September 2006, continues to pay half yearly grants to needy widows and spinsters.
At their meeting on 24 June 2013, the Trustees agreed to increase the gift made to recipients by £100. The annual grant would therefore amount to £512 (£256 to be paid in June and December).
Recipients of Grants
During the year, 7 of the beneficiaries died, 1 moved with no forward address and 1 asked to be removed.
16 new beneficiaries were added.
At 31st December 2021, there were 73 recipients.
Public benefit
The Trustees have had regard to the Charity Commission guidance on public benefit. As the charity's activity is to distribute grants to those in need, the Trustees believe the public benefit in the charity's activities is clear.
FINANCIAL REVIEW Financial position
At the year end unrestricted reserves totalled £1,600,891 (2020: £1,488,055).
Reserves policy
The Trustees aim to maintain reserves in real terms in order to generate income to pay the beneficiaries. This year the grant payments amounted to £37,876, so the reserves are sufficient and meet the policy in place.
Going concern
Although some Covid-19 restrictions were still in place as at 31st December 2021, the Trustees' portfolio has recovered after the losses suffered in 2020.
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HENRY AND ELIZABETH LINEHAM FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Registered Charity Number - 205975
Governing Instrument - Will proved at Exeter 15 February, 1933
Scheme of the Supreme Court (Chancery Division) made 21 June, 1962, and Charity Commission Scheme of 22 December 2010.
Beneficial area - Northampton (as delineated on a map previously adopted by the Trustees).
Legal and Administrative Details
The charity's financial statements comprise the accounts of all charities as listed.
Investments
The Trustees rely on their financial consultants, MHA Caves Wealth, for advice in relation to the selection of investments. The underlying policy is to aim to achieve capital growth to maintain the value in real terms while generating sufficient income to pay the annuitants.
At the meeting of the Trustees held on 16 June 2008 it was agreed that MHA Caves Wealth should be given discretion to manage the Trustees' portfolio.
Investment policy
The investment policy was reviewed in 2019. It was agreed that the Trustees would seek to achieve capital and income growth with an emphasis on an overall rate of return. This was achieved by a quarterly review of the portfolio by the financial advisers and the adoption of a low to medium risk investment policy. The financial advisors also attend one meeting a year to review the annual progress of the Charity's investments.
Administration of the Charity
The day to day administration of the charity has been delegated to HCR Hewitsons LLP.
All financial decisions are agreed by the Trustees at their meetings, and cheques are signed by two Trustees.
Trustees
At the meeting of the Trustees held on 15th March 2021 , Mr T J Hadland was appointed Chairman and Mr U Gravesande was appointed Deputy Chairman for the ensuing year. This was in accordance with the 1915 Scheme of the Northampton Municipal General Charities which had stated that the appointment of the Chairman and Deputy should take place at the first meeting of the year.
Further to paragraph 6 of The Charity Commission Scheme date 22 October 2010, following completion of a Special Resolution by the Trustees of Sir Thomas White's Northampton Charity dated 20 July 2020, the Trustees can appoint new Trustees rather than the Northampton Borough Council.
Prior to their first meeting, Trustees are sent papers which include a history of the charity, copy Charity Scheme, accounts and various notes and copy forms that are used by the clerks. No formal training is given.
Risk management
The charity has investments that are considered medium to high risk even though they are quoted on the Stock Exchange and FTSE 1000. The main area of risk is that the income available will not be sufficient to cover the annuities. By keeping the numbers under constant review, no new annuitant will be appointed if the income is likely to be exceeded. There is also the option of reducing the annual gift if the income is not sufficient to cover the annuities.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
205975
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HENRY AND ELIZABETH LINEHAM FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
Principal address
c/o HCR Hewitsons Elgin House Billing Road Northampton NN1 5AU
Trustees
T J Hadland U Gravesande F H Wire W A Howes J Nightingale P L Ager J Bulteel J Conroy (resigned 11/10/21) A Simpson J March T Whenham M Wilkinson Cllr A King Cllr S Beardsworth Cllr D Stone Cllr J Lane D Kelk (resigned 11/10/21) A Perry
Auditors
DNG Dove Naish LLP, Statutory Auditor Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ
Advisers
Financial Consultants: MHA Caves Wealth Lockgates House Rushmills Bedford Road Northampton NN4 7YB
Bankers
National Westminster Bank Plc 41 The Drapery Northampton NN1 2EY
Clerks to the Trustees
HCR Hewitsons Solicitors Elgin House, Billing Road Northampton NN1 5AU
HM Revenue & Customs number: X8076
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HENRY AND ELIZABETH LINEHAM FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
STATEMENT OF TRUSTEES' RESPONSIBILITIES
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).
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
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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 10 October 2022 and signed on its behalf by:
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HENRY AND ELIZABETH LINEHAM FUND
Opinion
We have audited the financial statements of Henry and Elizabeth Lineham Fund (the 'charity') for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Statement of Financial Position 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).
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 December 2021 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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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.
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:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HENRY AND ELIZABETH LINEHAM FUND
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, 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.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HENRY AND ELIZABETH LINEHAM FUND
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 145 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
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we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the industry sector;
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions;
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assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and
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investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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reading the minutes of meetings of those charged with governance;
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agreeing financial statement disclosures to underlying supporting documentation;
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enquiring of management as to actual and potential litigation and claims; and
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reviewing correspondence with HMRC and other relevant parties.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
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.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HENRY AND ELIZABETH LINEHAM FUND
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.
DNG Dove Naish LLP, Statutory Auditor Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ
Date: 12 October 2022
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HENRY AND ELIZABETH LINEHAM FUND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Raising funds 3 Charitable activities 4 Making grants Making one off grants to institutions Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted fund £ 57,672 5,004 47,261 1,000 53,265 108,429 112,836 1,488,055 1,600,891 |
2020 Total funds £ 57,889 4,736 44,490 1,000 50,226 (64,957) (57,294) 1,545,349 1,488,055 |
|---|---|---|
The notes form part of these financial statements
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HENRY AND ELIZABETH LINEHAM FUND
STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2021
| Notes FIXED ASSETS Investments 10 CURRENT ASSETS Debtors 11 Cash at bank CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 13 Unrestricted funds TOTAL FUNDS |
2021 Unrestricted fund £ 1,527,119 494 76,807 77,301 (3,529) 73,772 1,600,891 1,600,891 1,600,891 1,600,891 |
2020 Total funds £ 1,423,352 444 67,194 67,638 (2,935) 64,703 1,488,055 1,488,055 1,488,055 1,488,055 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 10 October 2022 and were signed on its behalf by:
The notes form part of these financial statements
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HENRY AND ELIZABETH LINEHAM FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
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 financial statements have been prepared under the historical cost convention with the exception of the investments which are included which are included at market rate.
The presentation currency of the financial statements is in Pound Sterling (£).
Going Concern
The financial statements have been prepared as a going concern. The Trustees have taken into account a period of 12 months post the approval of the financial statements date and confirmed their assessment that the charity is a going concern.
Significant Judgements and Estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive 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 headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
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.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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HENRY AND ELIZABETH LINEHAM FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES - continued
Fund accounting
Investments
All investments are considered to be of a long term nature and are stated at market value. The unrealised gains are recognised in the Statement of Financial Activities.
Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.
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 the statement of financial activities.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the statement of financial activities. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
2. INVESTMENT INCOME
| 2021 £ Dividends & interest received 57,672 RAISING FUNDS Investment management costs 2021 £ Portfolio management 5,004 CHARITABLE ACTIVITIES COSTS Grant funding of activities Support (see note costs (see 5) note 6) £ £ Making grants 37,876 9,385 Making one off grants to institutions 1,000 - 38,876 9,385 |
2020 £ 57,889 2020 £ 4,736 Totals £ 47,261 1,000 48,261 |
|---|---|
3.
4. CHARITABLE ACTIVITIES COSTS
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HENRY AND ELIZABETH LINEHAM FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 5. GRANTS PAYABLE 2021 £ Making grants 37,876 Making one off grants to institutions 1,000 38,876 The total grants paid to institutions during the year was as follows: 2021 £ The Lord Mayors Fund for the Housebound 1,000 6. SUPPORT COSTS Governance Management costs £ £ Making grants 5,814 3,571 Support costs, included in the above, are as follows: 2021 Making grants £ Clerks charges 5,814 Auditors' remuneration 967 Auditors' remuneration for non audit work 1,578 Clerks charges 1,026 9,385 |
2020 £ 34,986 1,000 35,986 2020 £ 1,000 Totals £ 9,385 2020 Total activities £ 6,018 912 1,512 1,062 9,504 |
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7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
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HENRY AND ELIZABETH LINEHAM FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
8. STAFF COSTS
There were no employees for the year ended 31 December 2021 nor the year ended 31 December 2020.
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Raising funds Charitable activities Making grants Making one off grants to institutions Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 10. FIXED ASSET INVESTMENTS MARKET VALUE At 1 January 2021 Additions Disposals Revaluations At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 |
Unrestricted fund £ 57,889 4,736 44,490 1,000 50,226 (64,957) (57,294) 1,545,349 1,488,055 Listed investments £ 1,423,352 140,511 (145,173) 108,429 1,527,119 1,527,119 1,423,352 |
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|---|---|---|
There were no investment assets outside the UK.
The historical cost of the investments at the year end was £920,194 (2020: £976,846).
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HENRY AND ELIZABETH LINEHAM FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Prepayments and accrued income 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income 13. MOVEMENT IN FUNDS At 1/1/21 £ Unrestricted funds General fund 1,488,055 TOTAL FUNDS 1,488,055 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 57,672 (53,265) TOTAL FUNDS 57,672 (53,265) Comparatives for movement in funds At 1/1/20 £ Unrestricted funds General fund 1,545,349 TOTAL FUNDS 1,545,349 |
2021 £ 494 2021 £ 3,529 Net movement in funds £ 112,836 112,836 Gains and losses £ 108,429 108,429 Net movement in funds £ (57,294) (57,294) |
2020 £ 444 2020 £ 2,935 At 31/12/21 £ 1,600,891 1,600,891 Movement in funds £ 112,836 112,836 At 31/12/20 £ 1,488,055 1,488,055 |
|
|---|---|---|---|
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HENRY AND ELIZABETH LINEHAM FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
13. MOVEMENT IN FUNDS - continued
Comparative 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 | 57,889 | (50,226) | (64,957) | (57,294) |
| TOTAL FUNDS | 57,889 | (50,226) | (64,957) | (57,294) |
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021 (2020: £Nil).
15. ULTIMATE CONTROLLING PARTY
The charity is under the control of its trustees as listed within the Trustees Report.
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