**REGISTERED CHARITY NUMBER: 211702** ## **LAWRENCE CAMPE'S ALMSHOUSES TRUST** ## **REPORT OF THE TRUSTEES AND** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** **LAWRENCE CAMPE'S ALMSHOUSES TRUST** ## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 30 June 2021** ||**Page**| |---|---| |**Report of the Trustees**|1 to 2| |**Independent Examiner's Report**|3| |**Statement of Financial Activities**|4| |**Balance Sheet**|5| |**Notes to the Financial Statements**|6 to 12| |**Detailed Statement of Financial Activities**|13| **LAWRENCE CAMPE'S ALMSHOUSES TRUST** **REPORT OF THE TRUSTEES for the Year Ended 30 June 2021** The Trustees present their report with the financial statements of the Charity for the year ended 30 June 2021. ## **OBJECTIVES AND ACTIVITIES** ## **Properties** The charity is responsible for the administration and management of the land situated in Friern Barnet Lane, London, N20, together with the almshouses thereon which, at 30 June 2021, consisted of: Old Almshouses 7 apartments New Almshouses 4 one person flats 8 two person flats The market value of the land and old almshouses, for which no figure appears in the balance sheet, has been estimated by the Trustees at £630,000 at 30 June 1999. Both new and old properties are insured for £2,295,333. The almshouses are available to persons over the age of 50 who have a long standing connection with the area and a low level of capital. ## **FINANCIAL REVIEW Results** During the year the Charity made an overall surplus on housing activities of £18,935 (2020 - surplus £23,055) and a surplus on non-housing activities of £185 (2020 - £695). ## **Expenditure** During the year the Trustees continued to refurbish various units at a total cost of £2,000 (2020 - £2,000). The Trustees will continue with their policy of repairs and refurbishment of apartments and flats as required and as they become vacant, although the majority have been completed over the last few years. Funds will need to be rebuilt in the years ahead to provide future provisions for the Almshouses. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document and a deed of trust. ## **Recruitment and appointment of new trustees** New trustees are recruited and appointed by the existing trustees. The trust deed provides that the body of trustees when complete shall consist of 9 competent persons being 3 ex-officio trustees, 1 nominative trustee appointed for 4 years and 5 co-optative trustees each appointed for a term of 5 years after which they may put themselves forward for reappointment. ## **Salaries** No member of the Board of Trustees received any remuneration during the year. Page 1 ## **LAWRENCE CAMPE'S ALMSHOUSES TRUST** ## **REPORT OF THE TRUSTEES for the Year Ended 30 June 2021** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Related parties** No member of the Board of Trustees has any interest in any firm of contractors or consultants employed by the Charity. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **Covid-19** All the residents continue to access help in the usual way through Ferrier Tomlin and the Trustees when necessary. The residents are all currently doing well. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 211702 ## **Principal address** 231 Woodhouse Road London N12 9BD ## **Trustees** Ex-officio members: Vacant Co-optative members: Mr E S Pratt - Chairman Mrs S Hickman - Secretary Mrs T J Clemens - Treasurer Ms S Davies - Almoner Ms H Edwards - Church Warden's Representative Nominative member: Councillor R Cornelius ## **Independent Examiner** Pomroy Associates Ltd Chartered Accountants Weltech Centre Ridgeway Welwyn Garden City Hertfordshire AL7 2AA Approved by order of the board of trustees on 4 January 2022 and signed on its behalf by: Mr E S Pratt - Trustee Page 2 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LAWRENCE CAMPE'S ALMSHOUSES TRUST** ## **Independent examiner's report to the trustees of Lawrence Campe's Almshouses Trust** I report to the charity trustees on my examination of the accounts of Lawrence Campe's Almshouses Trust (the Trust) for the year ended 30 June 2021. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. C S Pomroy Pomroy Associates Ltd Chartered Accountants Weltech Centre Ridgeway Welwyn Garden City Hertfordshire AL7 2AA 9 January 29022 Page 3 ## **LAWRENCE CAMPE'S ALMSHOUSES TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 June 2021** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**7,300**
**Charitable activities**
Maintenance contributions
**45,004**
Investment income
2
**145**
**Total**
**52,449**
**EXPENDITURE ON**
Other operating costs
3
**31,369**
Net gains/(losses) on investments
**455**
**NET INCOME/(EXPENDITURE)**
**21,535**
**Transfers between funds**
**-**
**Net movement in funds**
**21,535**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**42,883**
**TOTAL FUNDS CARRIED FORWARD**
**64,418**|Restricted
fund
£
**-**
**-**
**40**
**40**
**2,000**
**3,805**
**1,845**
**-**
**1,845**
**123,677**
**125,522**|**2021**
**Total**
**funds**
**£**
**7,300**
**45,004**
**185**
**52,489**
**33,369**
**4,260**
**23,380**
**-**
**23,380**
**166,560**
**189,940**|2020
Total
funds
£
7,300
43,766
695
51,761
28,011
(1,870)
21,880
-
21,880
144,680
166,560| |---|---|---|---| The notes form part of these financial statements Page 4 ## **LAWRENCE CAMPE'S ALMSHOUSES TRUST** ## **BALANCE SHEET 30 June 2021** |Notes
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Debtors
9
Investments
10
Cash at bank
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**ACCRUALS AND DEFERRED INCOME** 12
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**2021**
**£**
**201,957**
**3,224**
**27,272**
**149,256**
**179,752**
**(7,418)**
**172,334**
**374,291**
**(184,351)**
**189,940**
**64,418**
**125,522**
**189,940**|2020
£
209,957
5,539
23,012
134,069
162,620
(14,366)
148,254
358,211
(191,651)
166,560
42,883
123,677
166,560| |---|---|---| The financial statements were approved by the Board of Trustees on 4 January 2022 and were signed on its behalf by: ## Mr E S Pratt - Trustee Mrs T J Clemens - Trustee The notes form part of these financial statements Page 5 **LAWRENCE CAMPE'S ALMSHOUSES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 30 June 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 2015)', 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. The trustees have considered the potential impact of Covid-19 on the financial statements and in their opinion the going concern basis remains appropriate. ## **Freehold land and buildings** The properties are held for the provision of social housing and are stated at cost less depreciation in accordance with the guidance given in the Housing SORP 2018: Statement of Recommended Practice for Registered Social Housing Providers. ## **Old Almshouses** No figure is included in the balance sheet in respect of the old Almshouses and land comprised in the deed of gift dated 17 March 1612. Reference should be made to the comment in the Trustees Report. ## **New Almshouses** The new Almshouses are shown at cost, less Housing Association Grant and depreciation, as shown in the notes to these financial statements. ## **Depreciation** Depreciation has been provided on the new Almshouses at a rate which will write off the cost over a period of 60 years. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Housing association grants** Housing Association Grants (HAG) have been made by the Department of the Environment and have been utilised to reduce the amount of the mortgage loan in respect of the approved scheme to the amount which it is estimated can be serviced by the net annual income of the scheme. The amount of HAG has been calculated on the qualifying costs of the scheme in accordance with instructions issued from time to time by the Department of the Environment. Grants have been accounted for using the accruals method as permitted by FRS102 and in accordance with the guidance in the Housing SORP 2018: Statement of Recommended Practice for Registered Social Housing Providers. Grants are recognised over the useful life of the housing property. Page 6 ## **LAWRENCE CAMPE'S ALMSHOUSES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2021** ## **2. INVESTMENT INCOME** |Bank interest
Investment income|**2021**
**£**
**40**
**145**
**185**|2020
£
550
145| |---|---|---| |||695| ## **3. OTHER OPERATING COSTS** |Direct maintenance costs
Other direct property costs
Administration costs|**2021**
**£**
**18,856**
**8,968**
**5,545**
**33,369**|2020
£
13,604
8,484
5,923| |---|---|---| |||28,011| ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020. ## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
7,300
**Charitable activities**
Maintenance contributions
43,766
Investment income
145
**Total**
51,211
**EXPENDITURE ON**
Other operating costs
26,011
Net gains/(losses) on investments
(389)|Restricted
fund
£
-
-
550
550
2,000
(1,481)|Total
funds
£
7,300
43,766
695
51,761
28,011
(1,870)| |---|---|---| Page 7 ## **LAWRENCE CAMPE'S ALMSHOUSES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2021** |**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Total
fund
fund
funds
£
£
£
**NET INCOME/(EXPENDITURE)**
24,811
(2,931)
21,880
**Transfers between funds**
(2,000)
2,000
-
**Net movement in funds**
22,811
(931)
21,880
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
20,072
124,608
144,680
**TOTAL FUNDS CARRIED**
**FORWARD**
42,883
123,677
166,560
**6.**
**SPLIT OF NET INCOME**
**2021**
2020
**£**
£
Housing activities
**18,935**
23,055
Non-housing activities
**185**
695
Net gains/(losses) on investments
**4,260**
(1,870)
Net income/(expenditure) for the year
**23,380**
21,880|**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Total
fund
fund
funds
£
£
£
**NET INCOME/(EXPENDITURE)**
24,811
(2,931)
21,880
**Transfers between funds**
(2,000)
2,000
-
**Net movement in funds**
22,811
(931)
21,880
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
20,072
124,608
144,680
**TOTAL FUNDS CARRIED**
**FORWARD**
42,883
123,677
166,560
**6.**
**SPLIT OF NET INCOME**
**2021**
2020
**£**
£
Housing activities
**18,935**
23,055
Non-housing activities
**185**
695
Net gains/(losses) on investments
**4,260**
(1,870)
Net income/(expenditure) for the year
**23,380**
21,880|**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Total
fund
fund
funds
£
£
£
**NET INCOME/(EXPENDITURE)**
24,811
(2,931)
21,880
**Transfers between funds**
(2,000)
2,000
-
**Net movement in funds**
22,811
(931)
21,880
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
20,072
124,608
144,680
**TOTAL FUNDS CARRIED**
**FORWARD**
42,883
123,677
166,560
**6.**
**SPLIT OF NET INCOME**
**2021**
2020
**£**
£
Housing activities
**18,935**
23,055
Non-housing activities
**185**
695
Net gains/(losses) on investments
**4,260**
(1,870)
Net income/(expenditure) for the year
**23,380**
21,880|**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Total
fund
fund
funds
£
£
£
**NET INCOME/(EXPENDITURE)**
24,811
(2,931)
21,880
**Transfers between funds**
(2,000)
2,000
-
**Net movement in funds**
22,811
(931)
21,880
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
20,072
124,608
144,680
**TOTAL FUNDS CARRIED**
**FORWARD**
42,883
123,677
166,560
**6.**
**SPLIT OF NET INCOME**
**2021**
2020
**£**
£
Housing activities
**18,935**
23,055
Non-housing activities
**185**
695
Net gains/(losses) on investments
**4,260**
(1,870)
Net income/(expenditure) for the year
**23,380**
21,880|**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Total
fund
fund
funds
£
£
£
**NET INCOME/(EXPENDITURE)**
24,811
(2,931)
21,880
**Transfers between funds**
(2,000)
2,000
-
**Net movement in funds**
22,811
(931)
21,880
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
20,072
124,608
144,680
**TOTAL FUNDS CARRIED**
**FORWARD**
42,883
123,677
166,560
**6.**
**SPLIT OF NET INCOME**
**2021**
2020
**£**
£
Housing activities
**18,935**
23,055
Non-housing activities
**185**
695
Net gains/(losses) on investments
**4,260**
(1,870)
Net income/(expenditure) for the year
**23,380**
21,880|**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Total
fund
fund
funds
£
£
£
**NET INCOME/(EXPENDITURE)**
24,811
(2,931)
21,880
**Transfers between funds**
(2,000)
2,000
-
**Net movement in funds**
22,811
(931)
21,880
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
20,072
124,608
144,680
**TOTAL FUNDS CARRIED**
**FORWARD**
42,883
123,677
166,560
**6.**
**SPLIT OF NET INCOME**
**2021**
2020
**£**
£
Housing activities
**18,935**
23,055
Non-housing activities
**185**
695
Net gains/(losses) on investments
**4,260**
(1,870)
Net income/(expenditure) for the year
**23,380**
21,880| |---|---|---|---|---|---| ||||||21,880
144,680| ||||||166,560| ||||**2021**
**£**
**18,935**
**185**
**4,260**
**23,380**||2020
£
23,055
695
(1,870)
21,880| ||||||| Page 8 **LAWRENCE CAMPE'S ALMSHOUSES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2021** ## **7. ANALYSIS OF NET INCOME/(EXPENDITURE) FROM HOUSING ACTIVITIES** |**Year ended 30 June 2021**
Almshouses - 19 units
Services
Management
Property costs
Cyclical repairs and maintenance
Housing association grants
**Year ended 30 June 2020**
Almshouses - 19 units
Services
Management
Property costs
Cyclical repairs and maintenance
Housing association grants
**8.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 July 2020 and 30 June 2021
**DEPRECIATION**
At 1 July 2020
Charge for year
At 30 June 2021
**NET BOOK VALUE**
At 30 June 2021
At 30 June 2020|Service
Income
£
45,004
-
-
-
7,300
52,304
Service
Income
£
43,766
-
-
-
7,300
51,066|Operating
Surplus/
Costs
(deficit)
£
£
(8,968)
36,036
(5,545)
(5,545)
(16,856)
(16,856)
(2,000)
(2,000)
-
7,300
(33,369)
18,935
Operating
Surplus/
Costs
(deficit)
£
£
(8,484)
35,282
(5,923)
(5,923)
(11,604)
(11,604)
(2,000)
(2,000)
-
7,300
(28,011)
23,055
New
Almshouses
£
**479,957**
**270,000**
**8,000**
**278,000**
**201,957**
209,957| |---|---|---| Page 9 ## **LAWRENCE CAMPE'S ALMSHOUSES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2021** |**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**10.**
**CURRENT ASSET INVESTMENTS**
Income shares
Accumulation shares|**2021**
**£**
**3,224**
**2021**
**£**
**3,683**
**23,589**
**27,272**|2020
£
5,539
2020
£
3,228
19,784|2020
£
5,539| |---|---|---|---| |||23,012|| Investments are held in The National Association of Almshouses Common Investment Fund and are valued at fair value. At 30 June 2021 the charity held 4,140 (2020 - 4,140) income shares at a value of 88.97p (2020 - 77.98p) per share and 235 (2020 - 235) accumulation shares at a value of 10,029.16p (2020 – 8,411.33p) per share. |**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**12.**
**ACCRUALS AND DEFERRED INCOME**
Deferred government grants
**13.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
Restricted
fund
fund
£
£
Fixed assets
**201,957**
**-**
Current assets
**54,230**
**125,522**
Current liabilities
**(7,418)**
**-**
Accruals and deferred income
**(184,351)**
**-**
**64,418**
**125,522**|**2021**
**£**
**7,418**
**2021**
**£**
**184,351**
**2021**
**Total**
**funds**
£
**201,957**
**179,752**
**(7,418)**
**(184,351)**
**189,940**|2020
£
14,366
2020
£
191,651|2020
£
14,366| |---|---|---|---| |||2020
Total
funds
£
209,957
162,620
(14,366)
(191,651)|| |||166,560|| Page 10 ## **LAWRENCE CAMPE'S ALMSHOUSES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2021** ## **14. MOVEMENT IN FUNDS** |Net
movement
At 1.7.20
in funds
£
£
**Unrestricted funds**
General fund
**42,883**
**21,535**
**Restricted funds**
Provision for cyclical repairs and
maintenance
**123,677**
**1,845**
**TOTAL FUNDS**
**166,560**
**23,380**
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
**52,449**
**(31,369)**
**Restricted funds**
Provision for cyclical repairs and
maintenance
**40**
**(2,000)**
**TOTAL FUNDS**
**52,489**
**(33,369)**
**Comparatives for movement in funds**
Net
movement
At 1.7.19
in funds
£
£
**Unrestricted funds**
General fund
20,072
24,811
**Restricted funds**
Provision for cyclical repairs and
maintenance
124,608
(2,931)
**TOTAL FUNDS**
144,680
21,880|Transfers
between
funds
£
**-**
**-**
**-**
Gains and
losses
£
**455**
**3,805**
**4,260**
Transfers
between
funds
£
(2,000)
2,000
-|At
30.6.21
£
**64,418**
**125,522**
**189,940**
Movement
in funds
£
**21,535**
**1,845**
**23,380**
At
30.6.20
£
42,883
123,677
166,560| |---|---|---| |||| Page 11 **LAWRENCE CAMPE'S ALMSHOUSES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2021** ## **14. 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|51,211|(26,011)|(389)|24,811| |**Restricted funds**||||| |Provision for cyclical repairs and||||| |maintenance|550|(2,000)|(1,481)|(2,931)| |**TOTAL FUNDS**|51,761|(28,011)|(1,870)|21,880| ## **15. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 30 June 2021. Page 12 ## **LAWRENCE CAMPE'S ALMSHOUSES TRUST** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 June 2021** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Housing association grants
**Investment income**
Bank interest
Investment income
**Charitable activities**
Gross maintenance contributions
**Total incoming resources**
**EXPENDITURE**
**Other operating costs**
Gardening
Utilities
General repairs
Rental of entry phone
Electricity
Sundry expenses
Insurance
Accountancy
Cleaning
Depreciation of tangible fixed assets
Cyclical repairs and maintenance
Total resources expended
**Net income/(expenditure)**|2021
£
**7,300**
**40**
**145**
**185**
**45,004**
**52,489**
**6,742**
**-**
**9,444**
**629**
**339**
**1,003**
**3,004**
**1,454**
**670**
**8,000**
**2,000**
**33,285**
**33,285**
**19,204**|2020
£
7,300
550
145
695
43,766
51,761
6,920
(795)
4,354
622
657
1,310
3,157
1,456
330
8,000
2,000
28,011
28,011
23,750| |---|---|---| This page does not form part of the statutory financial statements Page 13