2022-03-31-accounts - The Lapworth Charity

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TRUSTEES
Ex Officio		The Rector, Rev P Gerard
Appointed by Lapworth Parish Council		Mrs J Bragg Mrs S Hunt
		Mr I TKnowles
		Mrs V R Male - resigned 19.07.21
		Ms SJThompson
		Ms E M Beaver - appointed	10.01.22
Co-opted		Mr D H Bradnock - resigned	02.11.21
		Mr DJ Clarke
		Mr DJ Corney
		Mrs C Hill
		Mr R E Nicol (Chairman) Mr H0Roberts
		MrJR Waldron
		Mr C G Whereat - appointed	18.03.22
PRINCIPAL ADDRESS		The Braids
		Rising Lane
		Lapworth
		Solihull
		B94BJE
REGISTERED	CHARITY	210948
NUMBER
INDEPENDENT	EXAMINER	Prime
		Chartered Accountants
		Corner Oak
		1 Homer Road
		Solihull
		B913QG
BANKERS		Lloyds Banking Group
		Solihull
		West Midlands
		B913AN
INVESTMENT	MANAGERS	Smith &Williamson
		9Colmore Row
		Birmingham
		832BJ

							2022	2021
						The
						Lapwoith
				Unrestricted	Restricted	Educational	Total	Total
				funds	funds	Foundation	funds	funds
			Notes	5		F	6
INCOME AND
ENDOWMENTS FROM
Donations	and legacies			2,265			2,265	6,000
Charitable		activities
Almshouses		provision		46,436			46,436	42,559
Investment		income	2	74,712		2,406	77,118	74,161
Total				123,413		2,406	125,819	122,720
EXPENDITURE ON
Raising funds			4	24,270		627	24,897	37,821
Charitable		activities
Almshouses		provision		47,624			47,624	44,401
Assistance		to individuals		16,734			16,734	23.534
Assistance		to non-Scheme
institutions				2,995		6,000	8,995	9,646
Assistance		to Scheme
institutions				25,685			25,685	24,806
Total				117,308		6,627	123,935	140,208
Net gains on investments				661,628	25,421	4,723	691,772	560,814
NET INCOME				667,733	25,421	502	693,656	543,326
Transfers	between funds		18	(2,000)		2,000
Net movement in funds				665,733	25,421	2,502	693,656	543,326
RECONCILIATION OF
FUNDS
Total funds		brought
forward				4,753,119	231,128	106,022	5,090,269	4,546,943
TOTAL FUNDS CARRIED
FORWARD				5,418,852	256,549	108,524	5,783,925	5,090,269

					2022	2021
				The
				Lapworth
		Unrestricted	Restricted	Educational	Total	Total
		funds	funds	Foundation	funds	funds
	Notes	E	6	6	6	E
FIXEDASSETS
Tangible assets	13	1,350,484			1,350,484	1,140,847
Investments
Investments	14	2,117,484	256,549	104,510	2,478,543	2,309,605
Investment properly	15	1,870,885			1,870,885	1,545,069
		5,338,853	256,549	104,510	5,699,912	4,995,541
CURRENT ASSETS
Debtors	16	2,123		4,162	6,285	15,402
Cash at bank		92,028		1,852	93,880	91,767
		94,151		6,014	100,165	107,169
CREDITORS
Amounts falling due within
one year	17	(14,152)		(2,000)	(16,152)	(12,441)
NET CURRENT ASSETS		79,999		4,014	84,013	94,728
TOTAL ASSETS LESS
CURRENT LIABILITIES		5,418,852	256,549	108,524	5,783,925	5,090,269
NET ASSETS		5,418,852	256,549	108,524	5,783,925	5,090,269
FUNDS	18
Unrestricted funds					5,418,852	4,753,119
Restdicted funds					365,073	337,150
TOTAL FUNDS					5,783,925	5,090,269

INCOME FROM CHARIT	ABLE ACTIVIT	IES
			2022	2021
	Activity		6	6
Weekly maintenance
contributions for Pound
Close Almshouses	Almshouses	provision	46,436	42,559
RAISING FUNDS
Investment management	costs
			2022	2021
				F
Porffolio management			9,208	7,465
Repairs and maintenance			1,721	2,940
Managing agents fees			2,462	2,870
Insurance costs			1,171	1,069
Other direct costs			4,967	19,866
Supportcosts			5,368	3,611
			24,897	37,821

CHARITAB	LE ACTIVITIES COSTS
			Grant
			funding of
		Direct	activities	Support
		Costs (see	(see note	costs (see
		note 6)	7)	note 8)	Totals
		F	F	6
Almshouses	provision	38,674		8,950	47,624
Assistance	to individuals		14,049	2,685	16,734
Assistance	to non-Scheme
institutions			6,310	2,685	8,995
Assistance	to Scheme institutions		23,000	2,685	25,685
		38,674	43,359	17,005	99,038

	DIRECT COSTS	O	F	CHAR	ITABLE	ACTIVITIES
							2022	2021
							6	6
	Utility costs						4,953	5,273
	Repairs and maintenance						27,871	26,375
	Insurance						2331	2,289
	NAA subscriptions						302	296
	Life line maintenance			and installation			247	234
	Estate agents fees						2,970	3,960
	Other direct costs							(48)
							38,674	38,379
	These costs relate		to	Pound	Close.
7.	GRANTS PAYABLE
							2022	2021
							6	F
	Assistance to individuals						14,049	21,728
	Assistance to non-Scheme				institutions		6,310	7,840
	Assistance to Scheme institutions						23,000	23,000
							43,359	52,568
	The total grants paid to institutions					during the year was as
	follows:
							2022	2021
							6	6
	Lapworth CofE Primary School						6,110	6,140
	Scheme payments		(see note below)				23,000	23,000
	Lapworth Surgery						200	1,700
							29,310	30,840
	Scheme payments		comprise:
							2022	2021
							6	6
	Church Wardens	of Nuthurst					3,000	3,000
	Church Wardens	of Lapworth					20,000	20,000
							23,000	23,000

The total g follows:	rants paid	to individua	ls duding the year was as
				2022	2021
				6	F
Covid-19 Hardship				100	5,855
Residents'	christmas	hampers		445	405
Charitable	assistance			450
Chiropody				852	718
Winter fuel	allowance			6,585	6,720
Educational	support			4,450	6,800
Contributions towards		childrens'	bus passes	1,167	1,230
				14,049	21,728

SUPPORT	COSTS
				Administration	Governance
				Costs	costs	Totals
				E		6
Investment	management	costs		4,418	950	5,368
Almshouses	provision			7,365	1,585	8,950
Assistance	to individuals			2,210	475	2,685
Assistance	to non-Scheme		institutions	2,210	475	2,685
Assistance	to Scheme	institutions		2,210	475	2,685
				18,413	3,960	22,373

			2022	2021
			6	6
Wages	and	salaries	11,640	11,324
			11,640	11,324

The average monthly numb	er of	empl	oyees	during the year was	as follows:
						2022	2021
Administration						1	1
No employees received emoluments			in excess of660,000.
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD					TO 31 MARCH 2021
						The
						Lapworth
						Educational	Total
						Foundation	funds
						6	6
INCOME AND ENDOWMENTS		FROM
Donations and legacies				6,000			6,000
Charitable activities
Almshouses provision				42,559			42,559
Investment income				71,894		2,267	74,161
Total				120,453		2,267	122,720
EXPENDITURE ON
Raising funds				36,836		985	37,821
Charitable activities
Almshouses provision				44,401			44,401
Assistance to individuals				23,534			23,534
Assistance to non-Scheme	institutions			4,648		4,998	9,646
Assistance to Scheme institutions				24,806			24,806
Total				134,225		5,983	140,208
Net gains on investments				487,914	51,062	21,838	560,814
NET INCOME				474,142	51,062	18,122	543,326
Transfers between funds				(515)		515
Net movement in funds				473,627	51,062	18,637	543,326
RECONCILIATION OF FUNDS
Total funds brought forward				4,279,492	180,066	87,385	4,546,943
TOTAL FUNDS CARRIED	FORWARD			4,753,119	231,128	106,022	5,090,269

NET GAINS I(L	NET GAINS I(L	OSSES)ON	INVESTM	ENTS
These comprise:
							2022	2021
							6	8
Unrealised	gain on freehold properties						210,000
Unrealised	gain on investment		properties				325,796	33,157
Unrealised	gain I	(loss) on fixed asset investment			portfolio		141,983	441,085
Realised gain on		fixed asset investment		porffolio			13,993	86,572
							691,772	560,814
TANGIBLE	FIXEDASSETS
						Freehold	Computer
						property	equipment	Totals
						8	8	8
COST OR VALUATION
At 1 April 2021						1,140,000	1,793	1,141,793
Revaluations						210,000		210,000
At 31 March	2022					1,350,000	1,793	1,351,793
DEPRECIATION
At 1 April 2021							946	946
Charge for year							363	363
At 31 March	2022						1,309	1,309
NET BOOK VALUE
At 31 March	2022					1,350,000	484	1,350,484
At 31 March	2021					1,140,000	847	1,140,847
Cost or valuation		at 31 March 2022 is represented			by:
						Freehold	Computer
						property 6	equipment 6	Totals f
Valuation in	2022					210,000		210,000
Cost						1,140,000	1,793	1,141,793
						1,350,000	1,793	1,351,793

FIXEDASSET INVESTMENTS
	Listed	Unlisted
	investments	investments	Totals
	E	E	F
MARKET VALUE
At 1 April 2021	1,772,898	536,707	2,309,605
Additions	113,192		113,192
Disposals	(86,235)		(86,235)
Revaluations	83,718	58,263	141,981
At 31 March 2022	1,883,573	594,970	2,478,543
NET BOOKVALUE
At 31 March 2022	1,883,573	594,970	2,478,543
At 31 March 2021	1,772,898	536,707	2,309,605

		Listed	Unlisted
		investments	investments	Totals
		6	6	E
Valuation in 2022		83,718	58,263	141,981
Cost		1,799,855	536,707	2,336,562
		1,883,573	594,970	2,478,543
INVESTMENT PROPERTY
FAIR VALUE
At 1 Apdl 2021				1,545,089
Revaluation				325,796
At 31 March 2022				1,870,885
NET BOOK VALUE
At 31 March 2022				1,870,885
At 31 March 2021				1,545,089
Fair value at 31 March 2022 is represented	by:
Valuation in 2022				325,796
Cost				1,545,089
				1,870,885

16.	DEBTORS:	A	MO	U	NTS F	A	LLING DUE	WITHIN ONE Y	EAR
										2022	2021
										6	6
	Trade debtors										9,032
	P repayments									6,285	6,370
										6,285	15,402
17.	CREDITORS:		AMOUNTS			FALLING DUE WITHIN ONE			YEAR
										2022	2021
										6
	Trade creditors									2,177	2,177
	Taxation and	social			security					1
	Other creditors									13,974	10,264
										16,152	12,441
18.	MOVEMENT	IN		FUNDS
									Net	Transfers
									movement	between	At
								At 1.4.21	in funds	funds	31.3.22
									E	E	6
	Unrestricted	funds
	General fund							4,263,119	457,733	(2,000)	4,718,852
	Freehold property			revaluation			reserve	490,000	210,000		700,000
								4,753,119	667,733	(2,000)	5,418,852
	Restricted funds
	Almshouses	extraordinary				repair fund		223,084	24,482		247,566
	Church extraordinary				repair		fund	8,044	939		8,983
	The Lapworth		Educational			Foundation		106,022	502	2,000	108,524
								337,150	25,923	2,000	365,073
	TOTAL FUNDS							5,090,269	693,656		5,783,925

Net movemen	t in f	un	ds, in	clud	ed in the ab	ove are as follow	s:
						Incoming	Resources	Gains and	Movement
						resources	expended	losses	in funds
						F	6	F	6
Unrestricted	funds
General fund						123,413	(117,308)	451,628	457,733
Freehold property		revaluation			reserve			210,000	210,000
						123,413	(117,308)	661,628	667,733
Restricted funds
Almshouses	extraordinary			repair fund				24,482	24,482
Church extraordinary			repair fund					939	939
The Lapworlh	Educational			Foundation		2,406	(6,627)	4,723	502
						2,406	(6,627)	30,144	25,923
TOTAL FUNDS						125,819	(123,935)	691,772	693,656
Comparatives for		movement			in funds
							Net	Transfers
							movement	between	At
						At 1.4.20	in funds	funds	31.3.21
						E	6	F	6
Unrestricted	funds
General fund						3,789,492	474,142	(515)	4,263,119
Freehold property		revaluation			reserve	490,000			490,000
						4,279,492	474,142	(515)	4,753,119
Restricted funds
Almshouses	extraordinary			repair fund		173,601	49,483		223,084
Church extraordinary			repair	fund		6,465	1,579		8,044
The Lapworth	Educational			Foundation		87,385	18,122	515	106,022
						267,451	69,184	515	337,150
TOTAL FUNDS						4,546,943	543,326		5,090,269

Comparative	net mo	vement	in funds, inclu	ded in the above	are as follows:
				Incoming	Resources	Gains and	Movement
				resources	expended	losses	in funds
				F		6
Unrestricted	funds
General fund				120,453	(134,225)	487,914	474,142
Restricted funds
Almshouses	extraordinary		repair fund			49,483	49,483
Church extraordinary		repair	fund			1,579	1,579
The Lapworth	Educational		Foundation	2,267	(5,983)	21,838	18,122
				2,267	(5,983)	72,900	69,184
TOTAL FUNDS				122,720	(140,208)	560,814	543,326