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2022-12-31-accounts

UNITED CHARITIES OF ST LEONARD SHOREDITCH

REGISTERED CHARITY NO: 213357

TRUSTEES’ REPORT AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

UNITED CHARITIES OF ST LEONARD SHOREDITCH

INDEX
Page
Legal and Administrative Details 1
Trustees' Report 2 - 5
Independent Examiners’ Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 - 17

Page 1

UNITED CHARITIES OF ST LEONARD SHOREDITCH

LEGAL AND ADMINISTRATIVE DETAILS

United Charities of St. Leonard, Shoreditch is a registered charity, administered and managed by a body of trustees.

REGISTRATION NUMBER:

213357

THE TRUSTEES ARE:

Steve Smeeth (Chairperson) Maggie Gallon (Vice Chairperson) Janet Marsh (Treasurer) Les Harrison Peter Sanders

CLERK TO THE TRUSTEES AND BUSINESS MANAGER:

Lorraine Groom

PRINCIPAL OFFICE:

3a Lloyd Thomas Court Truro Road London N22 8EN

PROFESSIONAL ADVISORS:

Independent Examiner

Bankers

Greg Stevenson Knox Cropper LLP Chartered Accountants 65 Leadenhall Street London EC3A 2AD CAF Bank Limited Kings Hill West Malling Kent ME19 4TA

Investment Managers Waverton Investment Management Ltd 21 St James’s Square London SW1Y 4HB

Page 2

UNITED CHARITIES OF ST LEONARD SHOREDITCH

TRUSTEES' REPORT

The Trustees present their annual report and financial statements of the charity for the year ended 31st December 2022. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 January 2019.

STRUCTURE, GOVERNANCE AND MANAGEMENT

• Organisational Structure

The Board of Trustees meet to determine strategy and policy, and is serviced by the Clerk to the Charity. The Clerk to the Charity oversees the day to day operations at the Almshouses. The Trustees also confirm that they have had regard for the Charity Commission guidance in respect of public benefit when reviewing the Charity’s aims and objectives and planning future activities.

• Risk

The Trustees have identified the risks to which the charity might be exposed. The main risks to which the Charity is subject are:

These are reviewed annually and systems established to minimise risks.

OBJECTIVE AND ACTIVITIES

The charity continued as its main object to provide housing for people of limited means who are able to lead independent lives, in some cases with help from local medical and social services. The charity also aims to support the parish of St. Leonard, Shoreditch in the help which it gives to rough sleepers and to make grants to primary schools in Shoreditch.

Page 3

UNITED CHARITIES OF ST LEONARD SHOREDITCH

TRUSTEES' REPORT

OBJECTIVE AND ACTIVITIES (Continued)

The Charity provides public benefit by providing accommodation to those who are unable to afford commercial rents. The almshouse continues to carry out repairs when they are required. By being in close contact with these individuals the charity can ensure their health and wellbeing is protected.

The Trustees have complied with the duty in s.2 of the Charities Act 2011 in having due regard to public benefit guidance published by the Charity Commission.

These were to maintain warm, comfortable and safe homes for the residents and to commence a programme of major works to restore the two listed properties.

ACHIEVEMENT AND PERFORMANCE

The Almshouses each year undertake to upgrade the flats to ensure compliance with the Decent Homes Standards. In the current year reactive maintenance has continued to keep the Almshouses in good condition, and considerable additional window replacement work was undertaken.

FINANCIAL REVIEW

The Trustees budget to set aside reserves according to The Almshouse Association’s recommendations and also to build up Designated Reserves for future major modernisation projects. The Designated Reserves are held in certain investments and the CAF Gold account, and there is currently no plan to increase the investment portfolio due to the major works programme on the United Charities of St Leonard Shoreditch’s listed properties. On completion of which the aim will be to rebuild the reserves.

The Charity maintains two designated reserves – The Extraordinary Repairs Fund and Cyclical Maintenance and Repairs Fund, and transfers are reviewed annually in accordance with guidance from the Almshouse Association.

Page 4

UNITED CHARITIES OF ST LEONARD SHOREDITCH

TRUSTEES' REPORT

FINANCIAL REVIEW (Continued)

• Results For The Year

The charity’s income, including that from investments, decreased slightly from £157,982 in 2021 to £154,860 in the current year. Income from the housing properties amounted to £125,798 compared to £122,040 in the preceding year. Expenditure increased from £82,699 to £91,180, with some additional legal costs and bad debts being written off.

The value of the charity’s investments decreased during the year from £1,034,015 to £924,924. In the year charity capitalised enhancements of £108,042 to the housing properties being the window replacements and the commencement of the roofing project, and these are depreciated over 30 and 50 years respectively. The total balance of these enhancements at 31st December amounted to £252,633.

Total funds decreased from £1,642,088 to £1,596,677 during the year whilst although the charity’s income exceeded its expenditure the result was offset by losses on investments, with fund balances decreasing by £45,411.

PLANS FOR THE FUTURE

The Trustees intend to continue the repairs and maintenance programme including major works to the fabric (roof, timber replacement and brickwork repairs) of the listed buildings and modernise further flats in 2024. This will involve further significant major works.

The Trustees intend to review the Constitution including Trustee involvement.

The Trustees have considered the likely future impact of the Charity’s income and expenditure, and consider there to be no going concern issues. The Charity’s investment portfolio which is held for the long term objectives of the Charity, has seen falls in the year under review.

Page 5

UNITED CHARITIES OF ST LEONARD SHOREDITCH

TRUSTEES' REPORT

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

Charity law requires Trustees to prepare financial statements for each financial year which give a fair view of the state of affairs of The United Charities of St. Leonard Shoreditch and of the surplus or deficit of the Charity for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for maintaining an adequate system of internal control and keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the United Charities of St. Leonard Shoreditch and to enable them to ensure that the financial statements comply with The Charities Act 2011. 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.

BY ORDER OF THE BOARD Janet Marsh (Treasurer)

2023

Page 6

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

UNITED CHARITIES OF ST LEONARD SHOREDITCH

I report to the trustees on my examination of the accounts of the United Charities of St Leonard Shoreditch (the Charity) for the year ended 31st December 2022, which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made to the Trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken so that I might carry out an Independent Examination of the financial statements in accordance with the General Directions given by the Charity Commissioners. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body for my work or for this report.

Responsibilities and basis of report

As the charity trustees of the Charity 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 Charity’s accounts carried out under section 145 of the 2011 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 Charity 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.

65 Leadenhall Street London EC3A 2AD

Greg Stevenson FCA Knox Cropper LLP Chartered Accountants

2023

UNITED CHARITIES OF ST LEONARD SHOREDITCH

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2022


Notes
INCOME FROM
Donations, Legacies and Collections
Investments
Charitable Activities
2
TOTAL INCOME
EXPENDITURE ON
Charitable Activities
3
TOTAL EXPENDITURE
Net (Losses)/Gains on Investment Assets
7
NET INCOME/(EXPENDITURE)
Transfer between funds
NET MOVEMENT IN FUNDS
TOTAL FUNDS BROUGHT
FORWARD AT 1ST JANUARY 2022
TOTAL FUNDS CARRIED
FORWARD AT 31ST DECEMBER 2022
10
 Unrestricted Funds

2022
General
£
Designated
£
Total
£
-
29,062
125,798
_
-
-
-
_
-
29,062
125,798
_
154,860
_
-
_
154,860
_
91,180
_
-
_
91,180
_
91,180
_
-
_
91,180
_
(95,013)
_
(14,078)
_
(109,091)
_
(31,333)
(14,078)
(45,411)
(47,680)
_
47,680
_
-
_
(79,013)
33,602
(45,411)
1,344,713
_
297,375
_
1,642,088
_
£1,265,700
_
£330,977
_
£1,596,677
_
 Unrestricted Funds
2021
General
£
Designated
£
Total
£
-
35,942
122,040
_
-
-
-
_
-
35,942
122,040
_
157,982
_
-
_
157,982
_
82,699
_
-
_
82,699
_
82,699
_
-
_
82,699
_
62,877
_
9,316
_
72,193
_
138,160
9,316
147,476
(37,240)
_
37,240
_
-
_
100,920
46,556
147,476
1,243,793
_
250,819
_
1,494,612
_
£1,344,713
_
£297,375
_
£1,642,088
_

All the activities reported above represent continuing operations.

Page 8

UNITED CHARITIES OF ST LEONARD SHOREDITCH

BALANCE SHEET

AS AT 31 DECEMBER 2022

Notes
FIXED ASSETS
Housing Properties
6
Investments
7
CURRENT ASSETS
Debtors
8
Cash at Bank and in Hand
CREDITORS: Amounts falling due
Within one year
9
NET CURRENT ASSETS
TOTAL NET ASSETS
FUNDS
Unrestricted
General
10
Designated
10		 2022
£
£
252,633
924,924
1,177,557
2,018
423,681
425,699
(6,579)
419,120
1,596,677
1,265,700
330,977
1,596,677		 2021
£
£
153,553
1,034,015
1,187,568
1,854
460,711
462,565
(8,045)
454,520
1,642,088
1,344,713
297,375
1,642,088		 2021
£
£
153,553
1,034,015
1,187,568
1,854
460,711
462,565
(8,045)
454,520
1,642,088
1,344,713
297,375
1,642,088
1,187,568
454,520
1,642,088
1,344,713
297,375
1,642,088

These financial statements were approved by the Board on 2023 and signed on its behalf by:

_______

Janet Marsh (Treasurer)

Registered Charity Number: 213357

Page 9

UNITED CHARITIES OF ST LEONARD SHOREDITCH

STATEMENT OF CASH FLOWS

AS AT 31 DECEMBER 2022

Notes
NET CASH GENERATED FROM OPERATING
ACTIVITIES
A
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of tangible fixed assets
Proceeds from the sale of investments
Additions of investments
Movement in Investment Managers Cash
Investment Income
TOTAL CASHFLOWS FROM INVESTING ACTIVITIES
NET CHANGE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING
OF THE YEAR
CASH AND CASH EQUIVALENTS AT END OF THE YEAR
A
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income/(Expenditure) for Year
Depreciation
Investment Income
(Increase)/Decrease in Debtors
Increase/(Decrease) in Creditors
(Gains)/Losses on Investments
B
ANALYSIS OF NET FUNDS
BALANCE
BROUGHT
FORWARD
£
Cash at Bank and in Hand
£460,711		 2022
£
41,950
(108,042)
-
-
-
29,062
(78,980)
(37,030)
460,711
£423,681
(45,411)
8,962
(29,062)
(164)
(1,466)
109,091
£41,950
MOVEMENT
£
£(37,030)		 2021
£
46,114
(10,440)
-
-
-
35,942
25,502
71,616
389,095
£460,711
147,476
5,366
(35,942)
770
637
(72,193)
£46,114
BALANCE
CARRIED
FORWARD
£
£423,681

Page 10

UNITED CHARITIES OF ST LEONARD SHOREDITCH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1. PRINCIPAL ACCOUNTING POLICIES

(a) Basis of Preparation and Assessment of going concern

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 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.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has been withdrawn.

The Trustees consider that there are no uncertainties about the Charity’s ability to continue as a going concern.

The Accounts combine the results and Lloyd Thomas Homes (Charity Registration Number 257468), the results of which are disclosed in their own accounts.

(b) Housing Properties and Depreciation

The land on which all the buildings stand, and the Almshouses were bequeathed to the charity in the 16th Century and the Trustees have no record as to the cost of building the Almshouses.

As the cost of the Almshouses is unknown no depreciation can be calculated on these properties.

The Charity has recently undertaken major project for the replacement of windows and doors and has commenced a programme on its listed properties and these works have been capitalised as Freehold Property Enhancements. The cost of these are depreciated over their estimated economic life and the depreciation rate applied is over 30 years and 50 years respectively.

(c) Fixed Asset Investments:

(d) Realised and Unrealised gains/(losses) on Investments

Realised and unrealised gains/(losses) on investments are reflected through the Statement of Financial Activities. Realised gains/(losses) on disposal of investments are calculated by reference to their market value in the previous year’s audited accounts or by reference to cost if acquired during the current year. Unrealised gains/(losses) are calculated by taking the difference between the market values at the balance sheet date and the previous year’s balance sheet date after having adjusted for any additions and any disposals during the year.

Page 11

UNITED CHARITIES OF ST LEONARD SHOREDITCH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1. PRINCIPAL ACCOUNTING POLICIES (Continued)

(e) Cyclical Repairs and Maintenance:

United Charities of St. Leonard Shoreditch has established a regular programme of cyclical repairs and maintenance. Costs are charged to the Statement of Financial Activities in the year in which they are incurred.

(f) Extraordinary Repairs:

The costs of extraordinary repairs, unless representing improvements to the properties, are charged to the Statement of Financial Activities in the year in which they are incurred.

(g) Cyclical Repairs and Maintenance Reserve:

This reserve represents amounts set aside for cyclical maintenance to meet costs in excess of budgeted expenditure for any year.

(h) Extraordinary Repairs Reserve:

This reserve represents amounts set aside to carry out major repairs on Housing Properties.

(i) Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Resident contributions and investment income are accounted for in the period in which the charity is entitled to receipt.

(j) Resources Expended:

Expenditure is included on an accruals basis.

Support Costs are allocated on the basis of their use with the aim of ensuring that those costs remaining within administration relate to the management of the charity’s assets, organisational administration and compliance with constitutional and statutory requirements.

(k) Value Added Tax:

(l) Significant Management Judgements and Estimation Uncertainties

The following are the critical judgements and key sources of estimation uncertainty that the Trustees have made in the process of applying the charity’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements:

Page 12

UNITED CHARITIES OF ST LEONARD SHOREDITCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1. PRINCIPAL ACCOUNTING POLICIES (Continued)

(l) Significant Management Judgements and Estimation Uncertainties (continued)

Impairment of Debtors

Debtors are recognised initially at the settlement amount due. In respect of accounts where there are indications that a debtor may be impaired or not collectible, a provision is recorded based on best estimates to reduce the receivable balance to the amount that is expected to be collected. Factors considered in making a provision include the historical payment and collection experience and debtors’ credit worthiness.

Housing Property Enhancements

Housing Property Depreciation is calculated on a component by component basis. The identification of such components is a matter of judgement and may have a material impact on the depreciation charge. The components selected are those which reflect how the major repairs to the property are managed.

2. INVESTMENTS

INVESTMENTS 2022 2021 Interest and Dividends £29,062 £35,942

3. EXPENDITURE ON CHARITABLE ACTIVITIES

2022
Almshouse Expenditure
Water Rates
Council Tax
Repairs and Maintenance
Light and Heat
Insurance
Wages and National Insurance
Pension
Professional Fees
Depreciation
Grants
Bad Debts
Support Costs
Trustees Expenses
Subscriptions
Telephone
Other Office Costs
Residents Welfare
Accountancy Fees
CHARITABLE EXPENDITURE		 General
Fund
£
6,922
188
26,986
592
3,868
23,288
1,347
12,956
8,962
(3,000)
2,072
84,181
407
606
475
302
709
4,500
6,999
£91,180		 Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
£-		 2022
Total
£
6,922
188
26,986
592
3,868
23,288
1,347
12,956
8,962
(3,000)
2,072
84,181
407
606
475
302
709
4,500
6,999
£91,180

Page 13

UNITED CHARITIES OF ST LEONARD SHOREDITCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

3. EXPENDITURE ON CHARITABLE ACTIVITIES (continued)

2021
Almshouse Expenditure
Water Rates
Council Tax
Repairs and Maintenance
Major Repairs
Light and Heat
Insurance
Wages and National Insurance
Other Professional Fees
Depreciation
Bad Debts
Grants
Sundry
Support Costs
Trustees Expenses
Subscriptions
Telephone
Other Office Costs
Residents Welfare
Accountancy and Payroll Fees
CHARITABLE EXPENDITURE		 Unrestricted Funds
General
Fund
Designated
Funds
2021
Total
£
£
£
5,225
-
5,225
-
-
-
26,500
-
26,500
-
-
-
627
-
627
3,646
-
3,646
26,025
-
26,025
2,695
-
2,695
5,366
-
5,366
3,402
3,402
1,000
-
1,000
106
-
106
74,592
-
74,592
420
-
420
347
-
347
522
-
522
1,141
-
1,141
1,428
-
1,428
4,249
-
4,249
8,107
-
8,107
£82,699
£-
£82,699		 Unrestricted Funds
General
Fund
Designated
Funds
2021
Total
£
£
£
5,225
-
5,225
-
-
-
26,500
-
26,500
-
-
-
627
-
627
3,646
-
3,646
26,025
-
26,025
2,695
-
2,695
5,366
-
5,366
3,402
3,402
1,000
-
1,000
106
-
106
74,592
-
74,592
420
-
420
347
-
347
522
-
522
1,141
-
1,141
1,428
-
1,428
4,249
-
4,249
8,107
-
8,107
£82,699
£-
£82,699		 Unrestricted Funds
General
Fund
Designated
Funds
2021
Total
£
£
£
5,225
-
5,225
-
-
-
26,500
-
26,500
-
-
-
627
-
627
3,646
-
3,646
26,025
-
26,025
2,695
-
2,695
5,366
-
5,366
3,402
3,402
1,000
-
1,000
106
-
106
74,592
-
74,592
420
-
420
347
-
347
522
-
522
1,141
-
1,141
1,428
-
1,428
4,249
-
4,249
8,107
-
8,107
£82,699
£-
£82,699
General
Fund
£
5,225
-
26,500
-
627
3,646
26,025
2,695
5,366
3,402
1,000
106
74,592
420
347
522
1,141
1,428
4,249
8,107
£82,699		 Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
£-
74,592
420
347
522
1,141
1,428
4,249
8,107
£82,699

4. NET INCOMING RESOURCES

FOR THE YEAR IS STATED AFTER CHARGING :

Independent Examiner’s Fee
- Current Year		 2022
£
4,500
£4,500		 2021
£
4,249
£4,249

5. TAXATION

The United Charities of St. Leonard Shoreditch is a registered Charity and is, therefore, exempt from liability to taxation on non-trading income and capital gains providing these are applied to charitable purposes.

Page 14

UNITED CHARITIES OF ST LEONARD SHOREDITCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

6. FIXED ASSETS HOUSING PROPERTIES

The Almshouses were founded in the 16th Century, and have been constructed by Charity, since that date.

There are no records of the cost of the Almshouses, and these have never been valued. All costs relating to improvements have been written off over the years. In preceding four years the Charity undertook a major project for the replacement of windows and doors and these improvements have been capitalised as Freehold Property Enhancements and will be depreciated over 30 years. In addition works to the roof has started, which will be depreciated over 50 years.

FREEHOLD PROPERTY ENHANCEMENTS

FREEHOLD PROPERTY ENHANCEMENTS
Cost
Brought forward at 1/1/2022
Additions
Disposals
Carried forward at 31/12/2022
Depreciation
Brought forward at 1/1/2022
Charge for the year
Disposals
Carried forward at 31/12/2022
Net Book Value carried forward
Net Book Value brought forward		 Roofing
£
-
26,532
-
26,532
-
530
-
530
26,002
-		 Windows
and Doors
£
171,440
81,510
-
252,950
17,887
8,432
-
26,319
226,631
153,553		 Total
£
171,440
108,042
-
279,482
17,887
8,962
-
26,849
252,633
153,553

Page 15

UNITED CHARITIES OF ST LEONARD SHOREDITCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

7.
FIXED ASSETS
INVESTMENTS
General
Fund
£
Market value at 1st January 2022
886,557
Additions
-
Disposals
-
Realised gains/(losses)
-
Unrealised (losses)
(95,013)
Market value at 31st December 2022
£791,544
Cash at Brokers
Historical Cost of Investments
£798,561
8.
DEBTORS
Amounts falling due within one year:
Prepayments and Accrued Income
Residents Contributions in Arrears
9.
CREDITORS:Amounts falling due within one year
Residents contributions in advance
Other Creditors and Accruals
 Designated
Funds
£
131,359
-
-
-
(14,078)
£117,281
£115,935
2022
£
2,018
-
£2,018
£
2,079
4,500
£6,579		 Designated
Funds
£
131,359
-
-
-
(14,078)
£117,281
£115,935
2022
£
2,018
-
£2,018
£
2,079
4,500
£6,579		 2022
Total
2021
Total
£
£
1,017,916
945,723
-
-
-
-
-
-
(109,091)
72,193
908,825
1,017,916
16,099
16,099
£924,924
£1,034,015
£914,496
£914,496
2021
£
1,849
5
£1,854
£
795
7,250
£8,045		 2021
Total
£
945,723
-
-
-
72,193
1,017,916
16,099
£1,034,015
£914,496
£2,018
£
2,079
4,500
£6,579

Page 16

UNITED CHARITIES OF ST LEONARD SHOREDITCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

10. UNRESTRICTED FUNDS

Designated Funds

Balance Brought forward
1st January 2022		 Cyclical
Repairs &
Maintenance
Reserve
£
208,794		 Extraordinary
Repairs
Reserve
£
88,581		 Sub Total
£
297,375		 General
Fund
£
1,344,713		 Total
£
1,642,088
Net Income/Expenditure
Unrealised Gains on
Investments		 -
-		 -
(14,078)		 -
(14,078)		 63,680
(95,013)		 63,680
(109,091)
Transfers
Balance carried forward
31st December 2022		 -
30,144
£238,938		 (14,078)
17,536
£92,039		 (14,078)
47,680
£330,977		 (31,333)
(47,680)
£1,265,700		 (45,411)
-
£1,596,677
Balance Brought forward
1st January 2021		 Designated Funds
Cyclical
Repairs &
Maintenance
Reserve
Extraordinary
Repairs
Reserve
Sub Total
£
£
£
178,650
72,169
250,819		 Designated Funds
Cyclical
Repairs &
Maintenance
Reserve
Extraordinary
Repairs
Reserve
Sub Total
£
£
£
178,650
72,169
250,819		 Designated Funds
Cyclical
Repairs &
Maintenance
Reserve
Extraordinary
Repairs
Reserve
Sub Total
£
£
£
178,650
72,169
250,819		 Designated Funds
Cyclical
Repairs &
Maintenance
Reserve
Extraordinary
Repairs
Reserve
Sub Total
£
£
£
178,650
72,169
250,819		 General
Fund
£
1,243,793		 Total
£
1,494,612

Cyclical
Repairs &
Maintenance
Reserve
£
178,650
Extraordinary
Repairs
Reserve
£
72,169
Net Income/Expenditure
Unrealised Gains on
Investments		 -
-		 -
9,316		 -
9,316		 75,283
62,877		 75,283
72,193
-
Transfers
30,144
Balance carried forward
31st December 2021
£208,794
ANALYSIS OF NET ASSETS
BETWEEN FUNDS
31/12/2022
Fixed
Assets
£
Designated Fund
-
General Fund
252,633
Total Unrestricted Funds
£252,633
31/12/2021
Fixed
Assets
£
Designated Fund
-
General Fund
153,553
Total Unrestricted Funds
£153,553		 9,316
7,096
£88,581
Investments
£
117,280
807,644
£924,924
Investments
£
131,359
902,656
£1,034,015		 9,316
37,240
£297,375
Current
Assets
£
213,697
212,002
£425,699
Current
Assets
£
166,016
296,549
£462,565		 138,160
(37,240)
£1,344,713
Current
Liabilities
£
-
(6,579)
£(6,579)
Current
Liabilities
£
-
(8,045)
£(8,045)		 147,476
-
£1,642,088
Total
£
330,977
1,265,700
£1,596,677
Total
£
297,375
1,344,713
£1,642,088

11. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Page 17

UNITED CHARITIES OF ST LEONARD SHOREDITCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

12. CAPITAL COMMITMENTS

Capital Expenditure that had been contracted
for but not been provided for in the Financial
Statements at 31st December 2022		 2022
2021
£
£
£140,000
£-

13. CONTINGENT LIABILITIES

At 31st December 2022 there were no known contingent liabilities (2021: £Nil).

14. KEY MANAGEMENT PERSONNEL AND EMPLOYEES

The Key Management Personnel of the Charity consist of The Clerk and the Trustees. Their remuneration for the year amounted to £24,635 (2021: £26,025). No employees received employee benefits of more than £60,000. In both years the Charity had only one member of staff.

15. RELATED PARTY TRANSACTION

Lorraine Groom, Clerk to the Trustees and only staff member is the daughter of Janet Marsh who was a Trustee of the Charity in the year. The Charity paid £24,635 in respect of wages, national insurance and pension during the year (2021: £26,025).