||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|