2023-03-31-accounts - The Lapworth Charity

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	Page
Reference and Administrative Details
Report ofthe Trustees	2 to	4
Independent Examiner's Report
Statement ofFinancial Activities
Balance Sheet
Notes to the Financial Statements	8 to	19
Detailed Statement of Financial Activities	20 to	21

TRUSTEES	TRUSTEES
Ex Officio			The Rector, Rev P Gerard
Appointed	by Lapworth	Parish Council	Mrs J Bragg
			Mr I T Knowles
			Ms SJ Thompson
			Ms E M Beaver
Co-opted			Mr DJ Clarke
			Mr DJ Corney
			Mrs C Hill
			Mrs S Hunt
			Mr R E Nicol (Chairman) Mr H0Roberts
			Mr J R Waldron
			Mr C G Whereat

PRINCIPAL ADDRESS	PRINCIPAL ADDRESS	The Braids
		Rising Lane
		Lapworth
		Solihull
		B94BJE
REGISTERED	CHARITY	210948
NUMBER
INDEPENDENT	EXAMINER	Prime
		Chartered	Accountants
		Corner Oak
		1 Homer Road
		Solihull
		891 3QG
BANKERS		Lloyds Banking Group
		Solihull
		West Midlands
		B913AN
INVESTMENT	MANAGERS	Evelyn
		9Colmore	Row
		Birmingham
		B32BJ

						2023	2022
					The
					Lapworth
			Unrestricted	Restncted	Educational	Total	Total
		Notes	funds f	funds f	Foundation F	funds f	funds f
INCOME AND
ENDOWMENTS FROM
Donations	and legacies		5,261			5,261	2,265
Charitable	activities	3
Almshouses	provision		51,621			51,621	46,436
Investment	income	2	97,797		2,820	100,617	77,118
Total			154,679		2,820	157,499	125,819
EXPENDITURE ON
Raising funds		4	24,906		468	25,374	24,897
Charitable	activities
Almshouses	provision		58,914			58,914	47,624
Assistance	to individuals		27,824			27,824	16,734
Assistance	to non-Scheme
institutions			9,553		6,000	15,553	8,995
Assistance	to Scheme
institutions			27,391			27,391	25,685
Total			148,588		6,468	155,056	123,935
Net gains/(losses) on
investments			(143,915)	2,690	(5,693)	(146,918)	691,772
NET
INCOME/(EXPENDITURE)			(137,824)	2,690	(9,341)	(144,475)	693,656
Transfers between funds		16	(4,000)		4,000
Net movement in funds			(141,824)	2,690	(5,341)	(144,475)	693,656
RECONCILIATION OF
FUNDS
Total funds	brought forward		5,418,852	256,549	108,524	5,783,925	5,090,269
TOTAL FUNDS CARRIED
FORWARD			5,277,028	259,239	103,183	5,639,450	5,783,925

					2023	2022
				The
				Lapworth
		Unrestricted	Restricted	Educational	Total	Total
	Notes	funds f	funds	Foundation E	funds 8	funds E
FIXEDASSETS
Tangible assets	13	1,350,121			1,350,121	1,350,484
Investments
Investments	14	1,968,700	259,239	98,269	2,326,208	2,478,543
Investment property	15	1,870,885			1,870,885	1,870,885
		5,189,706	259,239	98,269	5,547,214	5,699,912
CURRENT ASSETS
Debtors	16	13,179		4,162	17,341	6,285
Cash at bank		101,316		2,752	104,068	93,880
		114,495		6,914	121,409	100,165
CREDITORS
Amounts falling due within
one year	17	(27,173)		(2,000)	(29,173)	(15,152)
NET CURRENT ASSETS		87,322		4,914	92,236	84,013
TOTAL ASSETSLESS
CURRENT LIABILITIES		5,277,028	259,239	103,183	5,639,450	5,783,925
NET ASSETS		5,277,028	259,239	103,183	5,639,450	5,783,925
FUNDS	18
Unrestricted funds					5,277,028	5,418,852
Restricted funds					362,422	365,073
TOTAL FUNDS					5,639,450	5,783,925

INVESTME	NT INCOME
		2023 E	2022 f
Rents received		48,310	30,825
Wayleaves	and Canal Trust	223	225
Interest receivable		234
Dividends		51,850	46,068
		100,817	77,118

INCOME FROM CHARIT	ABLE ACTIVIT	IES
			2023	2022
	Activity		6
Weekly maintenance
contributions for Pound
Close Almshouses	Almshouses	provision	51,621	46,436

RAISING FUNDS Investment management costs
	2023 f	2022
Portfolio management	8,402	9,208
Repairs and maintenance	3,693	1,721
Managing agents fees	3232	2,462
Insurance costs	1,258	1,171
Other direct costs		4,967
Support costs	8,789	5,368
	25,374	24,897

			Grant
			funding of
		Direct	activities	Support
		Costs (see	(see note	costs (see
		note 6) f	7)	note 8) f	Totals E
Almshouses	provision	44,276		14,638	58,914
Assistance	to individuals		23,433	4,391	27,824
Assistance	to non-Scheme
institutions			11,162	4,391	15,553
Assistance	to Scheme institutions		23,000	4,391	27,391
		44,276	57,595	27,811	129,682

DIRECT COSTS O	F	CHARITAB	LE	ACTIVITIES
					2023	2022
					6	6
Utility costs					2,317	4,953
Repairs and maintenance					28,570	27,871
Insurance					2,532	2,331
NAA subscriptions					313	302
Life line maintenance		and installation			208	247
Estate agents fees					7,244	2,970
Other direct costs					3,092
					44,276	36,674
These costs relate	to	Pound Close.
GRANTS PAYABLE
					2023 6	2022 f
Assistance to individuals					23,433	14,049
Assistance to non-Scheme institutions					11,162	6,310
Assistance to Scheme institutions					23,000	23,000
					57,595	43,359
The total grants paid		to institutions		during the year was as
follows;
					2023	2022
Lapworth CofE Primary School					8,582	6,110
Scheme payments	(see note below)				23,000	23,000
Charitable assistance					2,580
Lapworth Surgery						200
					34,162	29,310
Scheme payments	comprise:
					2023	2022
					6
The Churchwardens		ofStThomas'		Nuthurst	3,000	3,000
The Churchwardens		ofSt Mary's	Lapworth		20,000	20,000
					23,000	23,000

The total g	rants paid	to individua	ls during the year was as fol	lows:
				2023	2022
Covid-19 Hardship					100
Residents'	christmas	hampers		495	445
Charitable	assistance				450
Chiropody				670	852
Winter fuel	allowance			8,100	6,585
Educational	support			13,300	4,450
Contributions towards		childrens'	bus passes	868	1,167
				23,433	14,049

SUPPORT	COSTS
			Administration	Governance
			Costs	costs F	Totals f
Investment	management	costs	7,538	1,251	8,789
Almshouses	provision		12,552	2,086	14,638
Assistance	to individuals		3,765	626	4,391
Assistance	to non-Scheme	institutions	3,765	626	4,391
Assistance	to Scheme institutions		3,765	626	4,391
			31,385	5,215	36,600

STAFF	CO	STS
			2023	2022
			6	F
Wages	and	salaries	12,562	11,640
			12,562	11,640

	2023	2022
Administration	1	1

						The
						Lapworth
						Educational	Total
						Foundation	funds
						E	E
INCOME AND ENDOWMENTS			FROM
Donations	and legacies			2,265			2,265
Charitable	activities
Almshouses	provision			46,436			46,436
Investment	income			74,712		2,406	77,118
Total				123,413		2,406	125,819
EXPENDITURE ON
Raising funds				24,270		627	24,897
Charitable	activities
Almshouses	provision			47,624			47,624
Assistance	to individuals			16,734			16,734
Assistance	to non-Scheme	institutions		2,995		6,000	8,995
Assistance	to Scheme institutions			25,685			25,685
Total				117,308		6,627	123,935
Net gains on investments				661,628	25,421	4,723	691,772
NET INCOME				667,733	25,421	502	693,656
Transfers	between funds			(2,000)		2,000
Net movement in funds				665,733	25,421	2,502	693,656
RECONCILIATION OF FUNDS
Total funds	brought forward			4,753,119	231,128	106,022	5,090,269
TOTAL FUNDS CARRIED		FORWARD		5,418,852	256,549	108,524	5,783,925

NET GAINS I(L	OSSES)ON	INVESTME	NTS
These comprise:
						2023	2022
Unrealised gain on freehold properties							210,000
Unrealised gain on investment		properties					325,798
Unrealised gain /(loss) on fixed asset investment				porffolio		(238,089)	141,983
Realised gain on	fixed asset	investment	porffolio			91,171	13,993
						(146,918)	691,772
TANGIBLE FIXEDASSETS
					Freehold	Computer
					property	equipment F	Totals f
COST OR VALUATION
At 1 April 2022 and 31 March		2023			1,350,000	1,793	1,351,793
DEPRECIATION
At 1 April 2022						1,309	1,309
Charge for year						363	363
At 31 March 2023						1,672	1,672
NET BOOK VALUE
At 31 March 2023					1,350,000	121	1,350,121
At 31 March 2022					1,350,000	484	1,350,484
Cost or valuation	at 31 March	2023 is represented		by;
					Freehold	Computer
					property	equipment	Totals
					5	E	E
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
MARKET VALUE
At 1 April 2022	1,883,573	594,970	2,478,543
Additions	219,210		219,210
Disposals	(133,459)		(133,459)
Revaluations	(243,854)	5,768	(238,086)
At 31 March 2023	1,725,470	600,738	2,326,208
NET BOOK VALUE
At 31 March 2023	1,725,470	600,738	2,326,208
At 31 March 2022	1,883,573	594,970	2,478,543

			Listed	Unlisted
			investments	investments	Totals
			E	E	E
Valuation	in 2022		83,718	58,263	141,981
Valuation	in 2023		(243,854)	5,768	(238,086)
Cost			1,885,606	536,707	2,422,313
			1,725,470	600,738	2,326,208
INVESTMENT PROPERTY
FAIR VALUE
At 1 April	2022
and 31 March 2023					1,870,885
NET BOOK VALUE
At 31 March 2023					1,870,885
At 31 March 2022					1,870,885
Fair value	at 31 March 2023 is represented	by:
					6
Valuation	in 2022				325,796
Cost					1,545,089
					1,870,885

DEBTORS:	A	MO	U	NTS F	A	LLING DUE	WITHIN ONE Y	EAR
									2023	2022
									6	F
Trade debtors									4,450
Other debtors									4,700
Prepayments									8,191	5,285
									17,341	6,285
CREDITORS:		AMOUNTS			FALLING DUE WITHIN ONE			YEAR
									2023	2022
									E	F
Trade creditors									2,177	2,177
Taxation and	social			security					9	1
Other creditors									26,987	13,974
									29,173	16,152
MOVEMENT	IN FUNDS
								Net	Transfers
								movement	between	At
							At 1.4.22	in funds	funds	31.3.23
							E	F
Unrestricted	funds
General fund							4,718,852	(137,824)	(4,000)	4,577,028
Freehold property			revaluation			reserve	700,000			700,000
							5,418,852	(137,824)	(4,000)	5,277,028
Restricted funds
Almshouses	extraordinary				repair fund		247,566	2,767		250,333
Church extraordinary				repair		fund	8,983	(77)		8,906
The Lapworth		Educational			Foundation		108,524	(9,341)	4,000	103,183
							365,073	(6,651)	4,000	362,422
TOTAL FUNDS							5,783,925	(144,475)		5,639,450

Net movemen	t in fun	ds, in	c	lud	ed in the ab	ove are as follo	ws:
						Incoming	Resources	Gains and	Movement
						resources E	expended	losses f	in funds E
Unrestricted	funds
General fund						154,679	(148,588)	(143,915)	(137,824)
Restricted funds
Almshouses	extraordinary		repair fund					2,767	2,767
Church extraordinary		repair		fund				(77)	(77)
The Lapworth	Educational		Foundation			2,820	(6,468)	(5,693)	(9,341)
						2,820	(6,468)	(3,003)	(6,651)
TOTAL FUNDS						157,499	(155,056)	(146,918)	(144,475)
Comparatives for movement					in funds
							Net	Transfers
							movement	between	At
						At 1.4.21	in funds	funds	31.3.22
							E
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	693,655		5,783,925

Comparative	net	mo	vement		in funds, inclu	ded in the above	are as follows:
						Incoming	Resources	Gains and	Movement
						resources	expended	losses	in funds
						E	6	F	E
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 Lapworth	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

						2023	2022
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
				F		E	F
INCOME AND ENDOWMENTS
Donations and legacies
Donations				5,261		5,261	2,265
Investment income
Rents received				48,310		48,310	30,825
Wayleaves and Canal	Trust			223		223	225
Interest receivable				229	5	234
Dividends				49,035	2,815	51,850	46,068
				97,797	2,820	100,617	77,118
Charitable activities
Weekly maintenance	contributions		for Pound
Close Almshouses				51,621		51,621	46,436
Total incoming resources				154,679	2,820	157,499	125,819
EXPENDITURE
Investment management		costs
Portfolio management				7,934	468	8,402	9,206
Repairs and maintenance				3,693		3,693	1,721
Managing agents fees				3232		3.232	2,462
Insurance costs				1,258		1,258	1,171
Other direct costs							4,967
				16,117	468	16,585	19,529
Charitable activities
Utility costs				2,317		2,317	4,953
Repairs and maintenance				28,570		28,570	27,871
Insurance				2,532		2,532	2,331
NAA subscriptions				313		313	302
Life line maintenance	and installation			208		208	247
Estate agents fees				7,244		7,244	2,970
Other direct costs				3,092		3,092
Grants to institutions				28,162	6,000	34,162	29,310
Grants to individuals				23,433		23,433	14,049
				95,871	6,000	101,871	82,033

							2023	2022
					Unrestricted	Restricted	Total	Total
					funds	funds	funds	funds
					F	E	F	F
Supportcosts
Administration		Costs
Wages					12,562		12,562	11,640
Insurance					484		484	484
ITcosts					336		336	764
General admin.		costs			2,888		2,888	1,473
Professional	charges				14,317		14,317	3,344
Bank charges					86		86	87
Room hire					349		349	258
Depreciation	oftangible			fixed assets	363		363	363
					31,385		31,385	18,413
Governance	costs
Independent	examination				5,215		5,215	3,960
Total resources expended					148,588	6,468	155,056	123,935
Net income before gains				and losses	6,091	(3,648)	2,443	1,884
Realised recognised			gains and losses
Realised gains/losses			on	investments	90,116	1,055	91,171	13,993
Unrealised gains		(losses)		on investments	(234,031)	(4,058)	(238,089)	141,983
Net income					(137,824)	(6,651)	(144,475)	157,860