THE CHARLES LANE TRUST REPORT AND ACCOUNTS YEAR ENDED31 DECEMBER 2022 Re9lStered Churtty No 216080 CONTENTS Page Legal and administrative information Report of the trustees Report of the Independent examTner Statement of financial activities Balance shèet 9- 14 Notes and accounting policies Charity Coimmission 13 NOV 2025 Received
THE CHARLES LANE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Churity reglstratlon.. 216080 Tru5tees.' Sheila Huckfield-Powell Dr Marcus Brain Councillor Roger Harmer Stephen Jackson Susan Jack50n Penelope Wagg Susan Weake ChaFr Registered office.. 101 Hazelwood Road, Acocks Green, Birmlngham, 827 7XW Independent Èxominer.. Malcolm Willcox, FCCA Chartered Certified Accountant Hagley House, 93 Hagley Road, Edgbaston, Birmingham, B16 8LA Bonkers.. HSBC Bank plc 22-24 Colmc>re Row, 8irrningham, B3 2QD Investmentmanuq¢r.' Brewin Dolphin Limited g Colmore Row, Birrnin8ham, B3 2BJ Monaqin9 qgent.. Carters, Chartered Surveyors 4 Albany Road, Harborne, Birmingham, B17 9JX
THE CHARLES LANE TRUST REPORTOF THETRUSTEES The trustees preserittheir report with the financial statement5 of the charity for the year ended 31 December 2022. The tru5tee5 have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financlal ReportinE Standard applicable in the UK and Republic of Ireland IFRS1021. Objertlves and artlvltles PrySe5 anduims The Charles Lane Trust is established to provide accommodation for elderly people residing in almshouses owned by the charity located in Fox Hollies Road, Acocks Green, Birmingham. After first defraying the management costs of the charrty, all of the charity's income is to be applied as follows: To maintain an extraordinary repair fund for the repair, Improvement or rebulldlng of the almshouses belonglng to the charlty. To applythe charitvs remaining income for the benefit of the almspeople of the charity or any of them in such manner as the trustees think fit from time to tlme. Ensuring our work delivers ouraims We review our aims, objectives and activities each year. This review looks at what we achieved and the outcome5 of our work in the previous 12 months. The review looks at the success of each key artivity and the benefits they have brought to those groups of people we are set up to help. The review also helps us to ensLtre that our aims, objectives and activities remain focused on Dur stated purpose. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our alms and objectives and in planning future activtties. In particular, the trustees conslder how planned attivities will tontribute to the aims and objectives they have set. Achievement and perfomiance Charitable ortivities During the year, the charitvs investments produced a satisfactory level of income enabling the charity to continue to meet its objectives and attivities. The trustees have also made regular visitsto the almshouse resiilents in a pastoral capacity and have received feedback on how to improve the service provided by the charity. Furthermore, the trustees of the charity have met on a regular basis throughout the year and have received and accepted reports from the clerk and from the warden.
THE CHARLES LANE TRUST REPORT OF THE TRUSTEES - continued Finan¢lal review Investmentpolicy and objertive5 The charrty needs to produce the best financial return within an acceptable level of risk and any progromme related investments will be considered by the trustees separately rather than forming part of the investment portfolio. The charSWs need for income is, to some extent, dittated by the wlsh to help maintain the operations and objects of the charity and so the investment objective is to generate an income return of approximately 4% per annum over the long temi. In addition, the trustees are looking for long-terrn real returns such that any ineome increases at least in line with inflation along with the real value of the assets over the long term. The trustees understand that in orderto mitigate inflation risk this is likely to mean that investment will partly be in real assets, such a5 equities. and that in the short term capital value of investments will fluctuate. The trustees are able to tolerate volatility in the capital value of investments as long as the charity is able to meet its short term commitments through accumulated Income or liquid spendable capital a55ets. The charltvs assets can be invested widely and should be diversified by asset class, geographical spread, investment manager anil by sector and security. Asset classes that the trustees consider coulil be included within the portfolio are cash, Eilts, corporate bonds, equities, property, structured products. private equity, commodlties and any other asset that is deemed to be suitable for the charity- Access to these asset classes could be achieved directly or via collertive investment vehicles such a5 investment trusts. The trustees are charged with agreeing a surtable asset allocation strategy with a firm of independent Investment managers who have been delegated with the aim of achieving the charitvs overall investment objectives. Llquldlty requirements The charity tend5 to utilise income from weekly maintenance payment5 from the charitvs almshouse residents and income received from it5 investment portfolio. The trustees will retain the majority of any exce55 income to the extent it is not Invested as such to try and Smooth any poor years of investment return5. To allow for volatility in income levels produced by the tharity's investment portfolio, Ihe trustee5 wish to malntain a yearfs worth of expenditure in cash and investments. Tlme horlzon The charity is expected to eKi5t in perpetuity and investments should be managed to meet the investment objective. Ethical Considerotlons The charity's assets should be invested in line with its aims. The trustees do not wlsh to adopt an exclusionary polity, but individual investments may be excluded if perceived to conftict wlth the charity's purpose. Trustees also acknowledge that some companies operate In areas that negatively affect the enviroriment In various ways or in areas where human rights are not observed. However, in the majority of cases, the trustees acknowledge that most major listed companies will also have made p051tive contributions for community involvement and equal opportunities any may make positive contributions to the environment. These positive aspects help counteract any such negative effects.
THE CHARLES LANE TRUST REPORT OF THE TRUSTEES continued Flnan¢lal review - continued Reserves policy It is the policy of the trustees to maintain a level of reserves sufficient to ensure the continued operation of the charwtvs activities. In particular, the trustees have agreed that an amount 15 to be held in the charit5 extraordlnary repair fund at the end of each year in order to maintain the charity's almshouses and to meet any future unexpected repair costs. The balance carried forward at 31 December 2022 in the charlty's extraordinary repalr fund Is deemed to be suff5cient by the trustees. Flnanclal review The statement of financial activities for the year ended 31 December 2022 shows incoming resources of £51,82212021- £49,5751 and resources expended of £57,57412021- £59,2701- The charity's investments during the year ended 31 Deeember 2022 have generated realised and unrealised losse5 totalling £52,44512021 gains- £66.4071 which the charity'5 net funds decreased from £786,887 as at 31 December 2021 to £728.690 as at 31 December 2022. Structure, governance and management Governing document The charity is an unincorporated charity governed by a scheme of the Charity Commission dated 6 December 1979. Trustees The power to appoint new trustees Is set out In the charit¢s governing document. The Board of Trustees shall consist, when complete, of nine members- one ex-offlcio trustee, two nomlnative trustees and six co-optative trustees. The ex-officio trustee shall be the Vicar of the Ecclesiastical Parish of the Church of the Ascension, Hall Green, Birmingham. The nominative trustees shall be appolnted by Birmlngham City Council. The co-optative trustees shall be persons who through residence, occupation. employment or otherwlse have special knowledge of the area of the Ancient Parlsh of Yardley. All trustees give theirtime voluntarily and receive no benefit5 from the chaTlty. Any expenses reclaimed from the charity are set out in the notes to the financial statements.
THE CHARLES tANE TRUST REPORT OF THE TRUSTEES continued Structurei governance and management continued Orgonis)tionol strurture The trustee5 are disclosed on page l under legal and administrative informatlon. All matters of policy. management and any other Items as clrcumstances required are dètermined by the trustees who meet several times a year. Indurtion and training oAnew trustees As part of their induction programme new trustees are made aware of their responsibilities as trustees of The Charle5 Lane Trust. This induction includes an introdurtion to the objectives, scope and policles of the charity and information on trustee responsibilities together with 2 copy of the charity's governing dotLtment. Rlsk monogement The trustee5 have a duty to identlfy and revlew the risks to which the charlty is exposed. Independent emamlners Malcolm H J Willcox FCCA, Chartered Certified Accountant, has expressed his willingness to continue In office as the independent examiner. On beha5f of the Board SHEILA HUCKFIELD-POWELL Chair 3 November 2025
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHARLES LANE TRUST I report on the financial statements of the charity forthe year ended 31 December 2022 whlch are set out on pages 7tol4. Respectlve responsibllltles o* trustees and examiner The charity's trustee5 are responsible for the preparation of the financlal statements. The charity's trustees consider that an audit is not requlred for thls year undei section 144 of the Charities Act 20111.the Charities ACVI and that an independent examination is needed. It Is my responsiblllty to.. examine the financial statements under section 145 of the Charities Art; to follow the procedures laid down In the general Directions given by the Charity Commission (under section 14515llbl of the Charities Act- and to state whether particular rnatters have come to my attention. Independent examlner's Statement I have completed my examination. I confirm that no material matter5 have come to rny attention which 8ive5 rne cause to believe that in, any material respect.. the atcounting records were not kept in accordance with section 130 of the Charities Att- or the financial statements did not accord with the accounting records,. OT the financial statements did not comply wlth the applicable requirements concerning the form and content of finaneièl statements set out in the Charities IAccounts and Reports) Regulations 2008 other than any requliement that the financTal statements give a 'true and fairf view which is not a matter considered as part tsf an independent eyamination. I have no Concerns and I have come across no other matters in connectlon with the examinatlon to whlch attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. MALCOLM H J WILLCOX FCCA Chartered CertifJedAccountJnt and 5totutoryAuditor Birmingham 3 November 2025
THE CHARLES LANE TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2022 Extraordinary Reserve Fund 2022 Tr&tsl 2021 Total Notes General Fund Restrltted Fund Incom• and endowments Charitable activities.. Residents, contributions 36,986 36,986 36.269 Investment income 14,836 14,836 13,306 51,822 51.822 49.575 Expendlture Investment mana8ement costs 5.001 5,001 4.968 Charitable 8ctlvities'. Direct cost5 Supportcosts 36,637 15,936 36,637 15,936 39,564 14,738 57,574 57,574 59,270 Net expenditure 1 5,7521 15,7521 19,6951 Reallsed 8alns/llossesl 1 1,8541 9,3501 111.2041 1,137 Unrealised gains/llossesl 1 6,6781 5,651 140.2141 141,2411 65,270 Net Ideficitllsurplus 114,2841 5,651 149,5641 158,1971 56,712 Transfer between funds 51,110 151,1101 Net movement in funds 36,826 5,651 1100,6741 158,1971 56,712 Total funds brought forward 119,053 121,886 545.948 786,887 730.175 Total funds carrSed forward 155,879 127,537 445,274 728,690 786,887
THE CHARLES LANE TRUST BALANCE SHEET 31 DECEMBER 2022 2022 2021 Notes FIXED ASSETS Tangible assets Investments 28.138 653,494 28,138 715,169 io 681,632 743,307 CURRENT ASSETS Debtors Cash at bank li 23,620 30,769 19.745 35,208 54,389 54,953 CREDITORS-ft711ing due within one year 12 17.3311 111.3731 NETCURRENT ASSETS 47,058 43.580 728.690 786,887 ACCUMULATED FUNDS Unrestrlcted funds Restricted funds 14 14 283,416 445.274 240.939 545,948 728,690 786,887 Approved ttndsigned on behtilf of the Boord on 3 November2025 by SHEILA HUCKFIELD-POWELL Chair
THE CHARLES LANE TRUST NOTES AND ACCOUNMNG POLICIES YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POLICIE5 Basis of preparlngthe flrtanclal statements The charity consritutes a public beneffc entity as defined by FR5102. The flnancial statements have been prepared In 8ccordance with AccountlnE and Reporting by Chariries.. Statement of Recommended Prattice applicable to charifies preparing thelr accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019. the Financial Report%n8 Standard applic8b1e inthe United Kingdom and Republic of Ireland IFR51021. the(harleS Act 2011, aT UK Generally Accepted Accountlng Practice. The flnancial statements have been prepared under the hlstorlcal cost conventlon with the exception of investrnents which are Sncluded at market value. Ibl Income All Sncome is reCOgned In the Statement of Flnanclal Actlvlties once the charity has entttlement to the fund5, It is probable that the income will be reiVed, and the amountcan be measured reliably. E¥penditure Labilitie5 are reeognlsed as expendlture a5 500n as there is a legal or constructlve obllgatlon commlttlng the charity to that expenditure, it Is probable that a transfer of e¢on¢mic beneflts will be required in settlement and the amountof the obligation can be measured reliably. Expenditurè is accounted for on an accruals basis and has been cla55ified under headingsthat èggregate a11 cost relatedioihe category. Where costs cannot be di¥ectly attributed to particular headlngs they have been allocated to attivltles on a basls consistent wlth the use of resources. Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material Unrta]ntIeS exlst. Tar¥lblefixed a$SS Depieciation is provided at the following annual rates in order to write off each asset over Its estimated useful life. Freehold13nd and buildlngs Freehold 8round rents Freehold L3nd and buildings and freehold grovod rents have not been depreciated because the twstees believe the sId81 valtse of freehold land and buildlngs and freehold ground rents will be at least equal to costs. Taxatkjn The charity s exempt from tsK on it5charitable activtties. The charity is 81so not reElSte¥ed forvalue added tax IVATI and, Sn tse flnancial statements. where applkable, expendlture Is shown Incluswe ol VAT. Fund aruntIng Unrestricted fundscan be used inaccordancewiththe charitable oblecrives8tthedlscretion ofthetrustees. Restricted funds can only be used for partlcular restricted purposes within the objetts of the charlty. ReStrIconS arise when specified by the donor or when fund5 are raised for particu18r resrrSrted purposes. Further explanath)n of the llatU and purpose of each und is included in the notes ts the f]nanclal ststements.
THE CHARLES LANE TRUST NOTES AND ACCOUNTING POLICIES Continued YEAR ENDED 31 DECEMBER 2022 ACCOUNnNG POLICIES - Continued Investments Investments are stated at market value at the balance sheet date. The statement of fsnancl81 activSties includes the net gains and losses on revaluation5 and disposa15 thrtsughout the year. Routlne malntenance The charity has established a regular programme of cycllcal repairs and maintenance. Costs are charged to the statement of financial activitles in the year In whith they are inCurd. Unrestricted Funds Restrlcted Fund5 Total 2021 INVESTMENT INCOME Fixed asset investments 14.836 14,836 13.306 RAISING FUNDS Investment managernent Costs 5,001 5,001 4,968 Dlrect Costs Support Costs Total CHARITABLE ACTIVITIES COST5 Direct costs Support costs 36,637 36,637 15,936 15,936 36,637 15.936 52,573 2022 2021 DIREcf COSTS OF CHARITABLE ACTIVITIES Repairs. malntenance and gardening Refurbishment expenses G3s and electricity Water rates Warden's salary 13,135 11,986 15.203 6,392 1,303 4,680 16,410 2.772 4.320 36,637 39,564 io
THE CHARLES LANE TRUST NOTES AND ACCOUNTING POLICIES Continued YEAR ENDED 31 DECEMBER 2022 2022 2021 SUPPORTCOSTS Telephone Insurancè Sundries and subscriptions Agent's commi5510n Clerk's hono¥arSum Independent examiners fees 968 3,153 482 4,200 5,333 1,8(x) 678 2,653 1,527 3,960 4,(KlO 1.920 15,936 14,738 Other Governance cost5 Total Support tosts, included In the above are as follows.. 8,803 7,133 15,936 TRu>fEEY REMUNERATION AND BENEFITS There were no trustee5' remuneration or other benefits for the year ended 310ecember 202212021- £Nill. TRUSTEES, EXPENSES There werè no trustees, expenses for the year ended 31 December 202212021- £Nill. STAFF COSTS No employees were paid over £60,000 during the year ended 31 Decernber 202212021- None). Freehold land Freehold and buildin85 ground rents Total TANGIBLE FIXED ASSETS Cost At l January 2022 28,038 loo 28,138 At 31 December 2022 28,038 Irx) 28.138 Net book value At 31 December 2022 28.038 28,138 At 31 December 2021 28,038 loo 28,138 li
THE CHARLES LANE TRUST NOTES AND ACCOUNTING POLICIES Continued YEAR ENDED 31 DECEMBER 2022 Extraordinary Repair Fund General Fund Trust Fund 2022 2021 io FIXED ASSET INVESTMENTS Market value as at 31 December 2021 Additions at ctsst Disposals proceeds Realised Bains/losses on revaluation Unrealised gaSnsllosses on revaluation 90,081 4.799 113,3631 160,667 464,421 37.643 138.3091 715.169 42,442 151,6721 650,741 15.000 116.9791 1 1,8541 1 9,3501 111.2041 1,137 1 6,6781 5,651 140,2141 141,2411 65,270 Market value as at 31 Detember 2022 72,985 166,318 414,191 653,494 715,169 Cost 411.818 406,899 Represented by LIK Equities UK Bonds Non-UK equitie5 & strurtured products COIF Charitie5 Investment Funds 114.236 27,536 329,684 182,038 139,555 22,156 376,709 176.749 653,494 715,169 Material Investments las a peicentage of totsl portfolio) COIF Charities Investment Funds 27.86% 24.71% 2022 2021 li DEBTORS- amountsfvlling due within one yeor Debtors 23,620 19,745 12 CREDITORS- ornountsfulllng due within one yeor Accrued expenses 7,331 11,373 7,331 11,373 12
THE CHARLES LANE TRUST NOTES AND ACCOUNTING POLICIES - Contlnued YEAR ENDED 31 DECEMBER 2022 Unrestricted Funds Restricted Fund 2022 Total 2021 Total 13 ANALYSIS OF NET ASSETS BETWEEN FUNDS Fixed as5et5 Inve5trnents Current 855ets Current liabilitlE5 28,138 414,191 2,945 28,138 653,494 54.389 1 7,3311 28,138 715.169 54.953 111,3731 239,303 51,444 1 7.3311 283,416 445,274 728,690 786.887 Net movement Transfers in funds between funds At 31.12.22 At 1.1.22 14 MOVEMENT IN FUNDS Unrestricted funds General fund Extraordinary repair fund 119,053 121,886 114.2841 5,561 51,110 155,879 127,537 240,939 1 8,6331 283,416 Restrlcted fund Trust fund 545,948 149.5641 151,1101 445,274 Total funds 786,887 158,1971 728,690 Net movement in funds, included in the abgve are as follows.. Incoming resources Resources expended Gains and losses Movement in funds 14 MOVEMENT IN FUNDS continued UnStrICted funds General fund Extraordinary repalr fund 51.822 157,5741 8.5321 5.651 114.2841 5,651 51,882 157.5741 1 2,8811 1 8,6331 Rèstrleted fund Trust fund 149,5641 149.5641 Total funds 51,822 157,5741 152,4451 158,1971 13
THE CHARLES LANE TRUST NOTES AND ACCOUNTING POLICIES - Continued YEAR ENDED 31 DECEMBER 2022 15 DESCRIPTION OF FUNDS Unrestrictèd- General fund The General fund represents the free funds of the charity that are not designated for particular purposes. Unrestrlrted- EraOrdInary Repalr fund The Extraordinary RepaiT fund Is a designated fund which allows the charity to malntain Its almshouses and to meet unexpected almshouse repair expenditure in the future. The balance held as at 31 December 2022 is deemed by the trustees to be sufficient. Restricted-Trust fund The Tfustfund is a restrlcted fund con515tin8 of freehold property and investments to generate additional funds for the charity to enable it to continue to pursue its objectives. 16 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2022. 17 ULTIMATE CONTROLLING PARTY The charity 15 controlled by the board of trustees. 14