Chanty number: 213851 LINCOLN MUNICIPAL RELIEF IN NEED CHARITY INDEPENDENTLY EXAMINED UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 MARCH 2022 hlNFFbN MUNICIPAL RELIEF IN NEED CHARITY CONTENTS Page Reference and Admini$trativ• Datai18 of the Charlty, Its Trustees and AdYlser8 Tru¥tses' R8POrt lrtd•pandont ExamineV8 R¢port ststement ot Financial Activiti•s Balancg Sheet Notes to the Financial Statem*nts 9-17 LINCOLN MUNICIPAL RELIEF IN NEED CHARITY REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 25 MARCH 2022 Trust•gs Councillor Brolhwell, Nominative Trustee Councillor Hewson, Nominative Trustee Councilloi Bushell, Nominativa Trustee J Hansard, Chair of Trustees Ico-operalivel J Handley. Co-OFtrative Trustee V Cohen, Co-operative Trustee P Vaughan, Co-operatwe Trustee J Kendall, Co-operative Tru$tee J E DiGkinson, Ctroperative TTUStee E Denby. Co4)pèratNe Trustee S Burke. Crtroper*ive Twstee (appointed S May 2021) Charlty rngi8tored number 213651 Prlncipal offico PO Box 1291 Lincoln LN5 SRA Ind•p•ndent Examlnef Linda LoTd Bsc FCA TEP Streets LLP Tower House Lucy T0￿r Street Lincoln LN1 1XW Bankers HSBC PLC Stonebow Branch 221 High Street LI[￿OIn LNI 1TS TSB 68nk 12 Bank Street Lincoln LN21DP Page I LINCOLN MUNICIPAL REUEF IN NEED CHARrrY TRUSTEES. REPORT FOR THE YEAR ENDED 25 MARCH 2022 The Trust￿ present their annual report together with the financial statements of the charity for the year 28 March 2021 to 25 March 2022. Oblectiv¢s and activiti . Poliei•s and objectlves To generate income from the assets of the Charity's funds and then apply that income principally lo relieve residents of th8 City of Lincoln who are in ￿ndItionS of need, hardship and di8tress. In setting objectives and planning for aclivitr'e5, the Trusiees have given due Gonsideration to 9en¢ral guidance published by the Charity Commission relating to public benefft, including the guidance 'PUbl￿ benefit". running a charity IPB21'. b. Maln actNltles undertakgn to further the charity's purpoB•8 for the public bon•fit The Trustees usè the seNices of the Stock Brokers Brewin Dolphin lo obtain the best return on the Investments for ¢apilal growth and income. They also use Jas. Martin and Co. Land Agents to ensure the best rental return on the farms. The Trustees ty to ensure that all possible income is dlstrlbuied by way of 9ranis to the public who a￿ in need. The Trusteès have regard lo the Charity CommissKJn's guldance on public trEnefil. stratgglc report Achigvements and perfonnan¢e a. Main achiavomonts of the charlty The Charty achieves ils only purpose, i.e. to distribute ineorne by way of grants to Ihe public who are in ne&Y. During the year ended 25 M8rch 2022, the charity awarded 122 grants12021- 110 grants). Financial ro¥1ow a. Golng concem After making appropriate enquirtes, the Trustee5 have a reasonab18 expect8tion that the charity has adequatè resources to continue in operational existen￿ for the foreseeable future. For this roason, they Continue to 8d¢)pt the going concern basis in preparlng th8 financial statements. Further details r898rding the adoption of the going con¢ern basis ean be found in thè accounting policies. b. Re¥$rrfes pollcy The levels of reseNes of the charity are maintsined and fluctuate accordlng to the market value of the investments. A substantial part of the income of the charity is Investment Income 2nd rentsl income which necessitatas such a high level of resgrve. The Trustees r￿eW the level of raserv85 held by thè chaTty at regular interv81s. Grants are made onty in accordance with avallable funds. The fixed running costs of the charity are extreme￿ low and as a rèsult the charity could funth.on wlth free reserves of just £5,000. Trustees ¢onslder the amount of reserves heid at the year end- lunreslricted funds amounting lo £2,465,512, of whkh £2,000,000 is held in investment property) lo m*t the Wuifemenls of the ¢harty. Page 2 UNCOLN MUNICIPAL REUEF IN NEED CHARITY TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 25 MARCH 2022 . Matsrial Invostments policy Brewin Dolphln, stockbrokers provlde twlce-yearty valuauons of the charity's investments and adwse the Trustees at thesr meèting of any change in those investrnents which they think approprlale. The Trustees have opted to use Brewin Dolphin's Discretional Investment SeNices. Structur8. governance ond managgment a. Constiiutlon Lincoln Municipal Rellef in Need Charty 18 a regislered charty. number 213651, and is constrtuted under 8 Charity Commission Scheme. b. M•thods of appointment or el•¢tlon of Trustees The mana9ement of the charity Is the responwbility of the Trustees who are elected and eo-opted urKler the temis of the Charity CommissK)n Scheme. . Oryanlsatlonal 8tructurg and decl$ion4naking pollcles The r8gistefed offlce and names and a¢Jdress of Advisers are set out on the pre￿ou$ page during the year nder review, as are the trustees. The body of trustees con81sts when completè of tan persons being thr& nominative Iruslees and seven Cc operathje trustees. Nominatwe trustees are appointed by the council of the City of Lin¢oln for a term of four years. The person appointed may or may not be a member of the council. co-operats.ve trustees arè persons, who through residen￿ occupation or employment have special knowledga of the City of Lin¢oln. They are appointed by a resolution of the trustees passed at a special meellng of which not less than tr￿nty sevèn days nolits has been gwen. The tsrm of office of the co-operative trustees is at the discreb.on of the Councsl. The TTUStees during the year were Nomlnatbvg Trustèes Councillor Brothwell Council101 Hew50n Councillor Bushell plicalions are accepted in a design*ed forn by the Clerk who has authorty from the Tru$tees to maka grants of up to £300 in any case or up to £500 with the Chaimian's approval. Donations in excess of £500 are approved at a full Trustees, meeting PFior to being pald. Decisions are raIrf￿ at the next Quarterly meeting of the Trustees. The Trustees iely upon Iheif Stockbrokers for advice on Inveslment from whom they recewe f8gulaT reports.The Charity doss not ongage in fundraising. d. Pollcies adopted for thg inductlon and trnining of Trustegs The clerk sends to each new Trustee 8 copy of the accounts, the Charity Scheme, the rEw sheet and the application form foT grants. Those documents conlaln all the relevant information for the working of the Charty and the clerk will assist with any points whiGh nged clariflcation. The clerk updÉtes Trustees from time to lime on new lagislation and new pracb"ces. Page 3 LINCOLN MUNICIPAL RELIEF IN NEED CHARTTY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 25 MARCH 2022 Structur•, governance and mana9•ment Icontinu•dl g. Flnancial rfsk management The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and financgs of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Plan$ for futyre perfrting by Charrti¢s'. Statement of Recommended Practica issued on 1 April 2005 which is referred to in the extant regulations bul has been withdrawn. l understand that this has been done in order for the accounts to provide a true 8nd fair view in accordance wth the General￿ Accepted Accounts'ng Practice èffectiv8 for reporting periods beginnirsg on or after 1 January 2015. I have completed my examination. I confimi that no matters have come to my attention in Connection with the examination giving ffle cause to believe that in 8ny material respect.. counting records were not kept in res￿ of the challty as requirgd by section 130 of the 2011 ACL or the occounls do not accord with those reo)rds", or the accounts do not Comply with the applicable requirements eonceming the forni and ￿nIent of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and faif 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 8xaminatiorJ to which attention should be drawn in this report sn order to enable a proper undefstsnding of the accounts lo be reached. This rew)rt is made 8018ty to tho charitls Trustees, as a bo(ty, in #ceordance with Part 4 of the Charities (Accounts and Reports) F