Charity Commission 13 NOV 2025 Received THE CHARLES LANE TRUST REPORT AND ACCOUNTS YEAR ENDED 31 DECEM8ER 2023 Reg15tered Chorlty No 216080 CONTENTS Page Legal and administrative Information Report of the trustees Report of the independent examiner Statement of flnancial activities Balance sheet 9- 14 Notes and accounting policies
THE CHARLES LANE TRUST LEGAL AND ADMINISTRAnVE INFORMATION Chgrity reg15trgtlon.' 216080 Trustees.. Sheila 14uckfield-Powell Dr Marcus 8rain Councillor Roger Harmer Stephen Jackson Susan Jackson Penelope Wagg Susan Weake Chalr Re9iStered office.. 101 Haielwood Road, Acocks Green, Birmingham, B27 7XW Independent exomlner.. Malcolm Willcox. FCCA Chartered Certified Accountant Hagley House, 93 Hagley Road, Edgbaston, Birmingham. B16 8LA Bonkers.. HSBC Bank plc 22-24 Colmore Row, Bim)ingham, B3 2QD Investment munuger Brewin Dolphin Limited 9 Colmo¥e Row, Birrningham, 83 2BJ Monoging ogent.. Carters, Chartered Surveyors 4 Albany Road, Harborne, Birmingham, B17 9JX
THE CHARLES LANETRUST REPORTOFTHE TRUSTEES The trustees present their report with the financial statements of the charity forthe year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charitles preparing thelr account5 in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS1021. Objettives and actlvities Purposes and olms 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, Blrmingham. After first defraylng the management costs of the charity. all of the charlS income Is to be applled as follows.. To maintain an extraordinary repair fund for the repair, improvement or rebuilding of the almshouses belonging to the charity. To apply the charlty's remaining Income forthe benefit of the almspeople of the charity or any of them in such manner as the trustees think fit from time to time. Ensurlng our work delivers our aims We review our aims, objertives and attivities 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 activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us to ensure that our aims, objectives and a¢tivitie5 remain focused on our stated purpose. We have referred to the Euidance contained in the Charity Commission's general Euidance on public benefft when reviewing our aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objective5 they have set. Achievement and perfomiance Chorituble Grtivltles Durlng the year, the charitrfs investments produced a satisfactory level of income enabling the charity to continue to meet its objertives and activities. The trustees have also made regularvisits to the almshouse residents 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 REPORTOF THETRUSTEES continued Financial review Investmentpollcy andobjertives The charity needs to produce the best financi31 return WTthin an acceptable level of risk and any programme related investments will be considered by the trustees separately rather than forming part of the investTnent portFolio. The charity's need for income is, to some extent, dictated by the wish to help maintain the operations objects of the charity and so the investment objective is to generate an Income return of approximately 4% per annum over the long term. In addltion, the trustees are looking for long-term real returns such that any income increases at least in line wlth inflation along with the real value of the assets over the long term. The trustees understand that in order to mitigate inflation risk this is likelyto mean that investment will partly be in real assets, such as equities, and that in the short term capttal value of investments will fluctuate. The trustee5 are able to tolerate volatility in the capital value of investments as long a5 the charity is able to meet its short term commitTnents through accumulated income or liquid spendable capital assets. The charl$ assets can be invested widely and should be diversified by asset class, geographical spread, Investment manager and by sector and security. Asset classes that the trustee5 consider could be included within the portfolio are cash, gilts, corporate bonds, equities, property, strurtured produtts, private equity, commoditie5 and any other asset that is deemed to be sultable for the charity. Access to these asset classes could be achieved directly or via collective investment vehicles such as investment trusts. The trustees are charged with agreeing a suitable asset allocation strategy With a firm of independent investment manager5 who have been delegated with the alm of achieving the chariws overall investment oblectlves. Liquidityrequlrements The charity tends to utilise income from weekly maintenance payments from the ¢hariVs almshouse residents and income received from tts investment portfolio. The trustees will retain the majority of any excess income to the extent Tt 15 not invested as such to try and smooth any potsryears of investment returns. To allow for volatility in income levels produced by the charitvs investment portfolio, the trustees wlsh to maintain a year's worth of expenditure in cash and investments. Time horizon The charity is expected to exist in perpetuity and investments should be managed to meet the investment objective. Ethicol Conslderatlons The charity's assets should be invested in line with its aim5. The trustees do not wish to adopt an exclusionary policy, but individual investments may be excluded if perceived to conflict with the charity's purpose. Trustees also acknowledge that some companies operate in areas that negatively affect the environment 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 positive contributions for community involvement and equal opportunf(ies any may make positive contriljutions to the environment. These positive aspects help counterart any such negative effects.
THE CHARLES LANE TRUST REPORTOF THETrUSTEES - continued Flnancial revlew contlnued Reserves policy It IS the policy of the trustees to malntain a level of reserves sufficient to ensure the continued operation of the charitVs activities. In particular, the trustees have agreed that an amount is to be held in the charity's extraordlnary repair fund at the end of each year in order to malntain the charitvs almshouses and to meet any future unexpetted repair c05t5. The balano carried forward at 31 December 2023 in the charitvs e)rtraordinary repair fund is deemed to be sufficient by the trustees. Flnonclol reviTew The statement of financial attlvities for the year ended 31 December 2023 shows incoming resourtes of £52.38512022- £51,822) and resources expended of £92.80912022- £57,574). The charity's investments during the year ended 31 December 2023 have generated realised and unreali5ed gains totalling £36,62312022 losses- £52,4451 which the charitVs net fL¢nds decreased from £728,690 as at 31 December 2022 to £724,889 a5 at 31 December 2023. Structure. 8overnance and management Governlng document The charity is èn unlncorporated charitygoverned by a scheme of the Charity Commission dated 6 December 1979. Trustees The power to appoint new trustees is Set out in the charity's governlng document. The Board of Trustees shall consist, when complete, of nine members.. one ex-officio trustee, two nomlnative trustees and sim co-optative trustees. The ex-officio trustee shall be the Vlcar of the Ecclesiastical Parish of the Church of the Aseen5ion, Hall Green, Birmingham. The nominative trustees shall be appointed by Birmingham City Council. The co-optativetrustees shall be persons whothrough residence, occupatron, employment or otheiSe have special knowledge of the area of the Ancient Parish of Yardley. All trustees give their time voluntarily and Yeceive no benefitsfrom the charity. Any expenses reclalmed from the chartty are set out in the note5 to the financial statements.
THE CHARLES LANETRUST REPORT OF THE TRUSTEES continued Strurturei governance and management ¢ontinued OrgGnisrrti¢)nalstrurture The trustees are disclosed on p3ge l under legal and administrative information. All matters of pollcy, management and any other items as circumstances required are determined by the trustees who meet several times a year. Induttion and tminlng of new trustees As part of their induttion programme new trustees are made aware of their responsibllities as trustees of Thè Charles Lane Trust. This indurtion includes an introduction to the objectives, scope and pollcles of the charity and Information on trustee responsibilities together with a copy of the charitfs governing document. Risk monogement The trustees have a duty to identify and revlew the risks to which the charity is exposed. Adequate insurance cover has been obtained by the charity in order to cover any potential losses. Independent examiners Malcolm H J Willcox FCCA, Chartered Certified Accountant, has expressed his willingness to contlnue in office as the independent examiner. On behalf 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 financlal statements of the charity for the year ended 31 December 2023 which are setout on pages 7tol3. Respertlve respoftslblllties of trustees and examlner The charity's trustees are responsible for the preparation of the financial statements. The charity's trustees onsider that an audit is not required for thi5 year under section 144 of the Charitie5 Act 20111.the Charities Act") and that an independent examinatlon is needed. It is my responsibility to.. examine the financial statements under Section 145 gf the Charities Act- to follow the procedures laSd down in the general Direction5 8iven by the Charity Commission (under *ctlon 14515llbl of the Charities Act. and to state whether particular matters have come to my attentlon. Independent examintrfs statement I have completed my examination. I confirm that no material matters have come to my attention whith gives me cause to belleve that in, any materièl respect: the accountin8 records were not kept In accordance wlth section 130 of the Charltles Att. or the financlal statements dSd not actord with the accountin8 records,. or the financi81 statements did not comply with the applicable requirements concerning the form ènd content of rinancial statements set out in the Charitie5 (Accounts and Reports) Regulations 2008 other than any requiTement that the financial statements give a 'true and fairf view which is not a Thatter considered as part of an independent examination. I have no concerns and I have come across no othermatters Sn connection with the examination to which attention should be drawn in thi5 report in order to enable a proper understanding of the financial st3tements to be reached. MALCOLM H J WILLCOX FCCA Ch(Jrtered CertifiedAccountant andSttstutoryAudAtor Birmingham 3 Novernber 2025
THE CHARLES LANE TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2023 Extraordinary Reserve Fund 2023 Total 2022 Total Notes General Fund Restricted Fund Incorne and endowments Charltable activitie5'. Residents, contributions 36.396 36,396 36,986 Investment incorne 15,989 15,989 14,836 52,385 52,385 51,822 Expendlture Investment rnanagement costs 4.670 4,670 5,001 Charitable activitSes: Direct costs Suppoit cost5 46,039 13,258 28,842 74,881 13,258 36,637 15,936 63,967 28,842 92.809 57,574 Net expenditure 111,5821 128,8421 140,4241 1 5,7821 Reali5ed 6ains/llossesl 13,213 2.2811 10,932 111,2041 Unrealised galnslllosse51 1 6,2421 11,915 20,018 25,691 141,2411 Nèt Ideficitllsurplus 1 4,6111 116,9271 17.737 1 3,8011 158,1971 Transfer betweèn funds 4.718 1 4,7181 Total fund5 brought forward 155,879 127,537 445,274 728,690 786,887 Total funds carrled forward 155,986 110.610 458,293 724,889 728,690
THE CHARLES L4NE TRUST BALANCE SHEET 31 DECEMBER 2023 2023 2022 Notes FIXED AETs Tangible assets Investments 28,138 668,729 28,138 653,494 io 696,867 681,632 CURRENT ASSETS Debtors Cash at bank li 21,530 13,866 23,620 30,769 35,396 54,389 CREDITORS-fulling due within one yeur 12 17,3741 17.3311 NET CURRENT ASSETS 28,022 47.058 724,889 728,690 ACCUMULATED FUNDS Uttrestricted funds Restrlcted funds 14 14 266,596 458,293 283,416 445,274 724,889 728.690 Approved ond signed on beholf of the Bourd on 3 November2025 by SHEILA HUCKFIELD-POWELL Chair
THE CHARLES LANE TRUST NOTES AND ACCOUNTING POIICIES YEAR ENDED 310ECEMBER 2023 ACCOUNTING POLICIES Bas15 01 preparlng the financial slalements The charity constitute5 a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance wtth Accounting and Reporting by Charltles= Ststement of Recornmended Practice applicable to charltles preparing their accoujts in accordance with the Fincl21 Reporting Standard appllcable ITr the UK and Republic of Ireland issued in October 2019, the Flnancial Reporting Standard appllcable inthe United Kingdorn and RepublK of Ireland IFRS1021. the Charities Act 2011, and UK Generally Accepted Accovnting Practice. The flnancial statements have been prered under the hlstorfcal cost conventlon with the excepflon of Investments which are included at market value. Income All incorne 15 recOgned in the Statemerrt of Flnanclal Activrties once the charity has entitlement to the funds, it Is probable that the irKoTne will be received, at)d the amount can be measured reliably. Expendlture Liabillties are recDgnlsed ès eKpendltLsre as soon 8S there 15 a legal or constructlve obllgatlon cornmltlln8 the charity to that expendlture. it is probable th3t a transfer ol e¢onomi£ benefits will be qUIred in Settlement and the amount of the obligation can be measured reliably. Expenditure 15 ac£ounted foron an accruals 54sand has been classified undèr hÈadingsthat aggregate311 c05t related to the category. Where costs cannot be directly attributed to particubr headlngs they have been all(xated to activities on a basi5 consistent with the use of resour&s. Goln8 concern The finaftcial statÈmÈnts have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. Tanglble Ilxed assets DepCIatIOn Is provided at the following annual rates in orde¥ to write off each a55et over tts estlmated useful life. Freehokj land and buildlngs Freehold ground nts Freehold land and buildings and freehold Eround nts have not been depreciated because the trustees belleve the resldual v31ue of freehold land and bullding5 and freehold ground rents will be at lea¢eoual to costs. Taxatlon The charity is exempt from tax on its charitable attivltles. The ch8rity Is also not reglstered for %lue added tsx IVATI and. In these flnanc131 statements, where appllcable, expenditure Is shown inclusive of VAT. Fund OCCOUb8 Unrestrictedfundscan be used in accordancewiththe charitable objectlvesatthediscretlon of thetrustees. Restricted fund5 cèn only be used for partlcular restrirted purpose5 Wlthin the objects of the charity- RestrictlQll5 arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each hjnd is included in the notes to the financial statements.
THE CHARLES iANE TRUST NOTES AND ACCOUNTING POLICIES Continued YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES - Continued Investments Investments are stated at market value at the balance sheet date. The statement of fiftant131 activities includes the net gains and losses on revaluatlons and disposals throughout the year. Routlne malntenan¢e The charlty has establlshed a regular PTogramme of ¢y¢lical repairs and maintenance. Costs are charged to the staternent of financial activities in the year in which they are Inturred. Unrestricted Funds Restrirted Funds Total 2022 INVESTMENT INCOME Fixed 35set investments 15,989 15,989 14,836 RAISING FUNDS Investment management costs 4,670 4,670 S,)1 Oirect Costs Support Costs Total CHARITABLE ACTIVITIES COSTS Direct costs Support costs 74,881 74,881 13,258 13,258 74,881 13,258 88,139 2023 2022 DIRECT COSTS OF CHARITABLE ACTIVITIES Repairs, maintenance and gardening Refurbishment expense5 Council tax Gas and electricity Water rates Warden'5 salary 21,766 28,842 1,154 14,723 2,636 5,760 13,135 16,410 2,772 4,320 74.881 36.637 io
THE CHARLE5 LANE TRUST NOTES AND ACCOUNTING POLICIES Continued YEAR ENDED 31 DECEMBER 2023 2023 2022 SUPPORTCOSTS Telephone Insurance Sundrles and subscriptions Agent's commission Clerk's honorailum Independent examlners fees 1,095 4,003 1,253 4,440 667 1,800 968 3,153 482 4,200 5,333 13,258 15,936 Other Governan£e costs Total Support C05t5, included in the above are as follow5: 10,791 2,467 13,258 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 202312022- TRUSTEES, EXPENSES There were no trustÈes' èxpenses for the year ended 31 December 202312022- £Nill. STAFF COSTS No employees were paid over £60,000 during the year ended 31 December 202312022- None). Freehold land Freehold and buildings ground rents Total TANGIBLE FIXED ASSETS Cost At l January 2023 28,038 loo 28,138 At 31 December 2023 28,038 100 28,138 Net book value At 31 December 2023 28,038 100 28,138 At 31 December 2022 28,038 IOD 28,138 li
THE CHARLES LANE TRUST NOTES AND ACCOUNTING POLICIES - Continued YEAR ENDED 31 DECEMBER 2023 Extraordinary Repair Fund General Fund Trust Fund 2023 2022 io FIXED ASSET INVESTMENTS Market value as at 31 December 2022 Additions at C05t Disposals proceeds Realised gainsllosses on revaluation Unreali5ed gainso55eS on revaluation 72,985 11.788 128,8001 166,318 414,191 55,730 160,1061 653,494 67.518 188,9061 715,169 42.442 151,6721 13,213 1 2,2811 10,932 111,2041 1 6,2421 11.915 20,018 25,691 141,2411 Market value as at 31 December 2023 62,944 178,233 427,552 668,729 653.494 Cost 402,210 411,818 Represented by UK Equities UK Bond5 Non-UK equities & structured products COIF Charities Investment Funds 83,831 55,885 334.173 194,840 114.236 27,536 329,684 182,038 668,729 653,494 Materlal Investments la5 a percentage of total porEfoliol COIF Charities Investment Funds Van8uard US Equity Fund 29.rA)% 6.20% 27.86% 2023 2022 li DEBTORS- tsmountsfvlling due within one year Debtors 21,530 23,620 12 CREDITORS- omotsntsfolllng due within one year Accrued expenses 7.374 7,331 12
THE CHARLES LANE TRUST NOTES AND ACCOUNTING POLICIES - Continued YEAR ENDED 31 DECEMBER 2023 Unrestricted Fund5 Restricted Fund 2023 Total 2022 Total 13 ANALYSIS OF NET ASSETS BETWEEN FUNDS Fixed a55ets Investments Current assets Current liabilities 28.138 427,552 2.603 28,138 668,729 35,396 1 7,3741 28,138 653,494 54,389 1 7,3311 241,177 32,793 7,3741 266.596 458,293 724,889 728,69 Net movement n funds Transfers between funds At 31.12.23 At 1.1.23 14 MOVEMENT IN FUNDS Unrestrlcted funds General fund Extraordinary repair fund 155,879 127,537 1 4,6111 116,9271 4,718 155,986 110.610 283,416 121,5381 4,718 266,596 Restrlcted fund Trust fund 445,274 17,737 1 4,7181 458,293 Total fvnds 728,690 1 3,8011 724,889 Net movement in funds. included in the above are as follows.. Incoming resources Resources expended Galns and Movement 105ses in funds 14 MOVÉMENT IN FUNDS continued Unrestrlcted fund5 General fund Extraordinary repair fund 52,385 163,9671 128,8421 6,971 11,915 4,6111 116,9271 52,385 192,8091 18,886 121,5381 Restricted fund Trust fund 17,737 17,737 Total funds 52,385 192,8091 36,623 1 3.801 13
THE CHARLES LANE TRUST NOTES AND ACCOUNTING POLICIES - Contlnued YEAR ENDED 31 DECEMBER 2023 15 DESCRIPTION OF FUNDS Unrestricted- General fund The General fund represents the free funds of the charity that are not designated for particular purposes. Unrestricted- Extraord5nary Repair fund The Extraordinary Repair fund Is a deslgnated fund which allows the charity to maintain its almshouses and to meet unexpected almshouse repair expenditure in the future. The balance held as at 31 December 2023 is deemed by the trustees to be sufficient. Restrlcted-Tru# fund The Trust fvnd is a restricted fund consisting of freehold property and Investments to generate additional fund5 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 2023. 17 ULTIMATE CONTROLLING PARTY The charity 15 controlled by the board of trustee5. 14